Home > Universal Robots announces 91 per cent revenue increase

Universal Robots announces 91 per cent revenue increase

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Denmark-based collaborative robot company Universal Robots has announced a 91 per cent increase in revenues for 2015 compared to the previous year.

The market leader in the "co-bot" category – loosely defined based on its robots’ safeness for operating alongside workers, ease of programming, and relatively low costs – reported revenues of 418 million DKK (about $85.4 million) for last year. Profit before tax was 65.4 million DKK (about $13.36 million), up 122 per cent.

Teradyne was acquired by US automation company Teradyne in May last year. It manufactures all its robots at its Odense headquarters and sells internationally through 200 distributors (three of these are in Australia). Universal sold its first robot in 2008.

"In the coming years, we expect the market for collaborative robots to grow by at least 50 per cent annually, not least due to the short payback period, often less than 12 months,” said Universal Robots' CEO, Enrico Krog Iversen, in a statement.

“Although I will be moving from CEO to a consultant capacity at Universal Robots later this year, I’m confident that Universal Robots will continue to thrive using our crystal clear strategy based on three key words: Focus, Simplicity and uncompromising Execution.”

The market for collaborative robots is predicted to be worth $US3 billion (according to Barclays) in 2020.

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