Universal Robots Reports Record Revenue Despite Global Uncertainty

Universal Robots, the Danish collaborative robot (cobot) company, has reported Q4 revenue of $85 million, bringing 2022 annual revenue to $326 million, up 5% on 2021. On a constant currency basis, growth over the year was 12%.

The company’s Chief Financial Officer, Kim Andreasen, said: “We are proud to have continued to grow our business despite facing a difficult macroeconomic environment in 2022. We focused on those things we are able to control, and we overcame supply chain challenges to report our highest annual revenue to date.”

The demand for automation in Europe slowed in 2022 following the start of the war in Ukraine. Universal Robots’ results have also been impacted by the change in exchange rates, which created an additional headwind to growth.

Poised to meet growing demand

Despite the change in global markets, overall demand for automation is predicted to continue to grow in 2023 and beyond, driven by growing labor shortages and changing workplace expectations.

Universal Robots has taken steps in 2022 to meet this growing demand. The company’s President, Kim Povlsen, said: “We invested last year in building world-class expertise in welding, palletizing and machine tending. We have also been working with our ecosystem partners to make automation easier for our customers than ever before. 2022 has been an important year for the company overall. We started construction on new headquarters, reached our 1000 employee milestone and launched a ground-breaking new cobot.”

Share on Socials!

Related Articles

Related Articles

2019 Food and Beverage Trends: Grocery Shoppers Expect More from Packaging

Study by EcoFocus Worldwide identifies four opportunities for brands to leverage packaging in their innovation process. MEMPHIS, TN | Evergreen Packaging released a white paper, "2019 ...
Read More

CSP Technologies, Inc. Introduces Material Science Lab in Newly Expanded Manufacturing Space

CSP Technologies, Inc. -a leader in designing and producing packaging solutions that ensure product protection, enhance brand recognition and improve consumer experiences – has completed a ...
Read More

The Case for Chain Drift Parallel Transfer: Including a Simplistic 2-to-1 Combiner

Multi-Conveyor recently built a set of sanitary food-grade conveyors that combine dual lanes of cup-size containers to feed an existing metal detector. The first conveyor section ...
Read More