[Click e-Stock] "Robotis Enters Full-Fledged Growth Phase Driven by Humanoid Robot Boom"

On May 14, Hana Securities analyzed that Robotis has ample capacity to expand its business into humanoids, collaborative robots, and walking robots, based on its world-class actuator manufacturing capabilities.

According to market research firm Fortune Business Insights, the global humanoid robot market is expected to grow at an average annual rate of 45.5%, from approximately $3.28 billion in 2024 to about $66 billion in 2032.

Choi Jaeho, a researcher at Hana Securities, stated, "Robotis is expected to penetrate the rapidly growing Chinese humanoid robot market starting this year," and explained, "It has been identified that actuators from Robotis are being used in some of the joints of humanoid robots produced by Unitree, the largest humanoid robot company in China."

He added, "Unitree is planning to begin full-scale mass production this year, aiming to manufacture more than 1,000 humanoid robots annually," and said, "We anticipate related benefits as mass production gets underway."

Researcher Choi emphasized, "LG Electronics, the second-largest shareholder of Robotis, has started developing and commercializing humanoid robots," and noted, "Last month, Robotis launched its physical AI-based humanoid robot 'AI Walker' and made its first delivery to LG Electronics." He further analyzed, "Additionally, LG Electronics has begun developing a household humanoid robot, and it appears that they are utilizing actuators and manipulators from Robotis in its development."

In the first quarter of this year, Robotis recorded sales of 10.1 billion won and an operating profit of 800 million won. Compared to the same period last year, sales increased by 22.6%, and operating profit turned positive. Researcher Choi commented, "The company achieved profitability faster than expected," and added, "Actuator exports reached 9.5 billion won due to increased demand from overseas clients and the acquisition of new customers," expressing expectations that "Robotis will enter a full-fledged phase of profitability growth."

It is estimated that Robotis will achieve sales of 45.8 billion won and an operating profit of 4.5 billion won this year. Sales are expected to increase by 52.6% compared to last year, and operating profit is anticipated to turn positive.

Researcher Choi analyzed, "Performance will continue to follow a pattern of low in the first half and high in the second half, driven by the launch effect of the OpenManipulator-Y, which began initial shipments in May," and added, "This is a conservative estimate that does not include the performance of humanoid robots scheduled for full-scale mass production starting in July."