Strong end of 2023 and new heavy payload cobots for Universal Robots

Universal Robots, the Danish collaborative robots (cobots) company, has reported Q4 revenue of USD 103 million, up 21% on Q4 2022, representing the company’s largest revenue quarter to date. Overall 2023 annual revenue was USD 304 million, down 7% on 2022.

The company’s President, Kim Povlsen, said: “2023 was characterized by a difficult economic and business environment for many of our core customers with global industrial activity slowing in the first half of the year. Nevertheless, we saw growth in our focus accounts and key segments, including palletizing, and in our strategically important OEM channel. We ended the year strong and enter 2024 with a great foundation for further growth“.

Newest cobots will indeed help to drive growth in the coming year. In 2023 Universal Robots experienced strong demand for the first of its heavy payload cobots, the UR20, particularly for palletizing and welding applications. In November the company also launched the second model in the new series of cobots, the UR30, which will open new automation possibilities for its customers. Together the UR20 and UR30 represented 30% of Q4 revenue.

“We have increased momentum in the delivery of impactful innovation to the market – said Povlsen -. We are already shipping UR30s and have ramped up production in the fourth quarter to more than 1.200 units to meet sustained demand for the UR20. Ultimately though, our success depends on our strength as a platform. It will be our continued software excellence and ease of use, on top of our hardware innovation, that creates value for our partners and end customers”.

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