Universal Robots President: Q3 Results are a Strong Indication of Growth to Come

Rhea-AI Summary

Universal Robots has announced record Q3 2021 revenue of USD 78 million, representing a 46% increase year-over-year and a 31% increase compared to Q3 2019. The company attributes this growth to rising demand for collaborative automation in the manufacturing sector, driven by challenges such as workforce shortages and supply chain disruptions. With over 50,000 cobots sold since 2008, Universal Robots is expanding its distributor network and recruiting to meet ongoing demand, with over 70 open positions currently available.

Positive

• Record quarterly revenue of USD 78 million, up 46% year-over-year.
• 31% revenue increase from pre-pandemic levels in Q3 2019.
• Strong demand for collaborative robots in response to workforce shortages and supply chain issues.
• Expansion of distributor network and recruitment drive for over 70 positions.

Negative

• None.

ODENSE, Denmark--(BUSINESS WIRE)-- Universal Robots, which has just released its Q3 results for 2021, has reported record quarterly revenue of USD 78 million, up 46% on last year’s Q3 revenue and 31% up from its pre-pandemic Q3 revenue of 2019.

Universal Robots' President Kim Povlsen at the company's headquarters in Odense, Denmark. (Photo: Business Wire)

Since creating the world’s first commercially viable collaborative robot in 2008, the Danish company has gone on to sell over 50,000 of its ‘cobots’ for use across a range of industrial uses, primarily in the manufacturing sector. President Kim Povlsen, who has led the company since March, sees this quarter’s results as a strong indication of growth to come:

“We are seeing strong and growing demand for our robots as awareness of the technology spreads across industry. Almost everywhere we operate we see the manufacturing sector facing considerable challenges - such as workforce shortages and supply chain disruption - which can be tackled through the use of collaborative automation. Post-pandemic, we also see businesses more open to questioning the way they work, looking for opportunities to make their businesses more resilient and improve the working lives of staff.”

Universal Robots has developed a platform model for its technology, similar to that used by smart phone manufacturers. Working with around 300 independent companies, it has spurred the development of a huge range of components and applications for use across industry, including sectors previously unautomated by cobots like welding and sanding.

Confident of ongoing demand for its technology, Universal Robots is now on course for further growth. Kim Povlsen continued: “Despite the success we have already seen, the game-changing potential of collaborative automation means Universal Robots is on a trajectory of rapid growth. We are expanding our already large network of distributors and certified system integrators and recruiting more staff across 22 locations. We currently have over 70 open positions, so it is a really exciting time for the company.”

Press Kit with images: Here

About Universal Robots

Universal Robots aims to empower change in the way work is done using its leading-edge robotics platform. Since introducing the world’s first commercially viable collaborative robot (cobot) in 2008, UR has developed a product portfolio including the UR3e, UR5e, UR10e, and UR16e, reflecting a range of reaches and payloads. Each model is supported by a wide selection of end-effectors, software, accessories and application kits in the UR+ ecosystem. This allows the cobots to be used across a wide range of industries and means that they can be flexibly redeployed across diverse tasks. The company, which is part of Teradyne Inc., is headquartered in Odense, Denmark and has offices in the USA, Germany, France, Spain, Italy, the Czech Republic, Romania, Russia, Turkey, China, India, Japan, South Korea and Mexico. Universal Robots has installed over 50,000 cobots worldwide. For more information, please visit www.universal-robots.com or read our blog at blog.universal-robots.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028006056/en/

Company contact:

Fleur Nielsen, Public Relations Manager

flni@universal-robots.com

+45 89 93 89 89

Media contact:

Mette McCall, McCall Media

mette@mccallmedia.net

+1 251 278 9847

Source: Universal Robots