Universal Robots sees record revenues

Feb. 6, 2023
Ends 2022 with $326 million in revenue, despite demand drop that followed war in Ukraine.
Universal Robots Vector Logo

Universal Robots (UR), the Danish maker of collaborative robots, reported fourth-quarter revenue of $85 million, with total revenue of $326 million for 2022 — a 5 percent increase over 2021.

On a constant currency basis, growth over the year was 12 percent.  

Europe’s demand for automation slowed in 2022 once war started in Ukraine, and UR also saw its results affected by changing exchange rates.

Chief Financial Officer Kim Andreasen said, “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.”