Despite a change in global markets which slowed automation demand in Europe following the start of the war in Ukraine and rising interest rates, Universal Robots believes that overall demand for automation will continue to grow in 2023 and beyond, driven by growing labor shortages and changing workplace expectations.
Universal Robots says it took steps in 2022 to meet this growing demand.
“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,” company president Kim Povlsen said.
The Danish collaborative robot (cobot) company reported Q4 revenue of USD 85 million, bringing 2022 annual revenue to USD 326 million, up 5% on 2021. On a constant currency basis, growth over the year was 12%.
“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,” said the company’s Chief Financial Officer, Kim Andreasen.