Denmark's largest robot maker achieves 91% revenue growth in 2015

The recently released financial statements of Universal Robots certainly show the huge growth potential in the robotics industry. The company's revenue in 2015 reached DKK 118 million, an increase of 91% compared to 2014, and it also delivered an excellent report card: profit before tax was DKK 65.4 million. In the spring of 2015, Teradyne made a huge splash when it bought all shares of Universal Robots for $285 million. This price reflects expectations for tremendous growth in the robotics industry; especially for collaborative robots, an innovative new market and low-cost, easy-to-install, simple-to-design robots that work side-by-side with human workers to improve quality and increase productivity . The first collaborative robot was sold in December 2008, and by 2015 the market is expected to reach $100 million. Some analysts expect the collaborative robot market to exceed $3 billion in 2020. So Universal Robots, the frontrunner, assured its owner, Teradyne, a strong position in this high-growth robotics industry. UniversalRobots' 2015 revenue increased by 91% from 2014 to DKK 418 million, a 223% increase from 2013. Profit before tax amounted to DKK 6.54 million, an increase of 122% compared to 2014. That means the robot maker has both boosted revenue and lowered its cost per robot -- making 2015 more efficient as profit growth outpaced revenue growth. Since 2012, UniversalRobots' annual sales have grown an average of nearly 75%. All robotic arm production takes place in Odense, Denmark, and the robots are sold by 200 dealers. In 2015, the efficiency of the European region accounted for 45%, the Americas region accounted for 30%, and the Asia region accounted for 25%. Deep-pocketed Teradyne is also gearing up to start investing heavily to keep Universal Robots as the leader in collaborative robotics. In 2015, the company hired a large number of robot developers, causing Universal Robots to double the number of people in the development department in Odense. 'Because the payback period is very short, usually less than a year, we expect the cobot market to grow at least 50% annually over the next few years,' said Enrico KrogIversen, CEO of UniversalRobots. 'We are the market. , and we have significantly increased our investments in engineering, sales and customer support to further extend leadership. Although I will be stepping down as a consultant by the company's CEO later this year, I am confident that by using Based on its clear strategy of focus, simplicity and firm execution, UniversalRobots will thrive.'