KUKA Reports Record Sales in 2023, Foresees Challenges Amidst Economic Downturn

KUKA Reports Record Sales in 2023, Foresees Challenges Amidst Economic Downturn

(IN BRIEF) KUKA, a leader in automation and robotics, achieved record-breaking sales revenues exceeding €4 billion in 2023, alongside a substantial increase in EBIT. CEO Peter Mohnen highlighted the company’s resilience and growth amidst fierce market competition and expanding international presence, particularly in key markets like the USA and China. However, despite surpassing ambitious targets, KUKA anticipates challenges in 2024 due to a weak economy and declining demand, especially evident in a cautious first quarter marked by decreased incoming orders. Despite these challenges, KUKA remains cautiously optimistic, emphasizing the importance of agility and innovation to sustain competitiveness. Furthermore, KUKA is strategically expanding into autonomous mobile robotics to address market demands, aiming to be among the top manufacturers in this sector by 2027.

(PRESS RELEASE) AUGSBURG, 11-Apr-2024 — /EuropaWire/ — KUKA has met and even exceeded its ambitious targets for 2023. In addition to KUKA’s Group-wide order intake (€4.0 billion, 2022: €4.5 billion), sales reve-nues (€4.1 billion) also exceeded the four-billion-euro mark for the first time. EBIT also rose for the first time to € 158.2 million. At 0.99, the book-to-bill ratio was below the previous year’s figure. (2022: 1,14).

“Automation and robotics have developed from a megatrend to a cornerstone of industrial production, indispensable especially in high-wage countries. Accordingly, the automation market has become extremely competitive. KUKA is holding its own very well in this highly competitive environment and is growing internationally”., Peter Mohnen, CEO KUKA AG

Years of market knowledge, combined with innovative strength and a strong local presence in important markets such as North America and China, are convincing customers. The USA, for example, is KUKA’s largest single market with sales of almost one billion euros. In addition, KUKA’s expertise is helping more and more industries to remain competitive in the long term, especially in a challenging environment.

Cautious first quarter of 2024

Global uncertainties, a pessimistic mood and a weak economy are currently weighing on the economy, both in Germany and worldwide. This is also having an impact on KUKA and customer demand. KUKA has started 2024 with a decline in incoming orders. “Despite the slow start, we are cautiously optimistic about this year and expect slight growth. In the medium term, we want to grow comprehensively,” says Peter Mohnen.

Despite economic cycles, the automation industry is developing strongly – this is also confirmed by the International Federation of Robotics with the latest available surveys. According to this, the number of industrial robots in use worldwide reached a new record of 3.9 million in 2022.

“In this strong future market, it is crucial to be close to customers and markets,” says KUKA Group CEO Peter Mohnen. “Our top priority is to focus on constant change and agility instead of the status-quo. This is the only way we can remain competitive. As a global Group, we must support in shaping change and recognize trends early on. This ranges from AI-based robot programming to flexibly deployable robots that can grip unknown components better thanks to AI to mobile autonomous assistants.”

More mobile and flexible: trends in the automation market

Autonomous mobile robotics (AMR) is being driven by the shortage of skilled workers in logistics. Here, KUKA is strategically expanding its AMR portfolio, for example for the transportation of goods in production. “Customer interest is high. Our goal is to be one of the top 5 manufacturers of autonomous mobile robots by 2027,” says Reinhold Groß, CEO of KUKA Robotics.

The KUKA Annual Report 2023 with all figures can be downloaded here.

Financial Figures 2023 KUKA Group

Media Contact:

Teresa Fischer
Spokesperson Business
KUKA Aktiengesellschaft, Zugspitzstraße 140, 86165 Augsburg, Germany
+49 821 797-5276

SOURCE: KUKA AG