Universal Robots reports strong record results for 2021
January 27, 2022 by Manufacturing AUTOMATION
Universal Robots, specializing in the production of collaborative robots, reported a record annual revenue of $311 million (USD). According to the company, this is 41 percent up on 2020 results and 23 percent up on the pre-pandemic results in 2019.
The company’s president, Kim Povslen, said, “Universal Robots has had a great year. In a company like ours, which manufactures sophisticated hardware to high-quality standards, this sort of growth requires tremendous commitment from all involved. Our production team in Denmark has broken internal records for the number of cobots built, producing 400 cobots in a single week in Q4. Our supply chain experts have worked hard to keep our business running smoothly despite global supply challenges.”
The fourth quarter results of the company also set new records, being 22 percent more than the same quarter of 2020 and 28 percent more than 2019.
Povlsen noted that the company’s growth is driven by several long-term trends, including workforce shortages and growing awareness of the contribution automation can make to productivity. The company, he said, has new reach, as well as repeat business from manufacturers extending their use of cobots after seeing the impact of the technology.
Universal Robots is expecting strong growth in 2022 as well. Povslen explained that the demand for collaborative robots is set to grow which will ensure the growth of the company’s ecosystem.