Increased demand for user-friendly collaborative robots usable without safety fences

Universal Robots achieved sales of $170 million, exceeding its 2017 sales target of 1 billion DDK (approximately 178.6 billion KRW or $160 million USD) set in 2013. It posted remarkable results of $54 million USD (approximately 58.2768 billion KRW) in the fourth quarter of 2017.

Earnings in the fourth quarter of 2017 increased by 61% compared to the same period of the previous year, marking the highest quarterly performance ever recorded by Universal Robots. Meanwhile, operating profit more than doubled from 9% in 2016 to 19% in 2017.

Jürgen von Hollen, CEO of Universal Robots, stated, “The achievement of an unprecedented 72% year-over-year revenue growth is due to the continued recognition of the economic benefits of Universal Robots as it is applied across various applications, as well as the unwavering commitment shown by all employees and partners to creating the best cobot technology.” He added, “The outstanding fourth-quarter and annual results were achieved through the true teamwork demonstrated by our UR community. The UR community operates around a shared goal of building the capabilities of employees, partners, and customers alike to achieve successful community growth together.”

“We expect at least 50% additional sales growth in 2018,” President Hollen added. “The cobot market is expected to drive major growth in the automation market over the next few years. Leveraging its market position as a leader in the cobot market, UR predicts that it will grow at or above the growth rate of the collaborative robot market in 2018. However, this result will only be achievable by focusing on goals such as staying technologically ahead, expanding the UR+ platform, and further globalizing its regional sales and service presence and scope,” the company explained.

As evidence of its expanded global investment, UR recently opened two service centers in the United States and China. This marks the first time centers have been opened outside of its headquarters in Denmark, bringing it closer to global users. “Customers cannot afford even the slightest loss of productivity. Therefore, they want to avoid downtime at any cost. Our goal is to ensure that UR cobots never remain idle while waiting for repairs or spare parts,” said President Hollen.

UR recently opened a new center in Boston, USA. This marks the first step in expanding its global operations beyond Denmark. “The new facility in Boston will help us utilize more resources and highly trained staff. In 2018, UR will focus on organizational expansion, particularly in R&D, sales, and service. Consequently, UR will grow faster through scale expansion and talent acquisition,” explained President Hollen. He added, “We will also open sales offices in Italy and Turkey, establish a branch in Mexico, and plan to open a third office in China.”