[Click eStock] Robotis 'Domestic Production of Gear Reducers'... Overseas Love Calls 'Growth'

[Asia Economy Reporter Lee Seon-ae] Hana Securities stated on the 1st that Robotis, which has succeeded in domestic production of reducers, is expected to see performance growth as it receives love calls from overseas companies. However, no investment opinion or target price was provided.

Founded in 1999, Robotis is a robot-specialized company that independently manufactures and produces parts necessary for robot production, such as reducers and controllers. It is also the first domestic company approved for the outdoor autonomous robot regulatory sandbox.

The main product is Dynamixel (actuator). Robotis modularizes products such as reducers, controllers, motors, drives, sensors, and network equipment. Currently, it has a portfolio of more than 100 products that can be utilized according to the size of the robot and the required precision.

Robotis's autonomous robot business is divided into indoor autonomous robots (Jipgaemi) and outdoor autonomous robots (Ilgaemi). Jipgaemi is a B2B service-providing robot offered to hotels and hospitals, while Ilgaemi is being researched and developed targeting the last-mile market. As of 2021, the sales ratio by business division is 86.1% for robot parts and 13.9% for autonomous robots, with overseas sales accounting for 72.4%.

Choi Jae-ho, a researcher at Hana Securities, said, "Robotis can produce reducers, which account for about 40% of the robot production cost, independently," and added, "Attention should be paid to the expansion of production capacity (CAPA) to respond to the increasing order volume and the high proportion of overseas sales."

He continued, "As a leading company in the explosively growing indoor autonomous robot market and last-mile market, high performance growth is expected," and explained, "Some of the public funds raised through the recent paid-in capital increase will be used to expand reducers and Dynamixel."

With the expansion of Robotis's order volume, additional expansions are expected to proceed until 2024. The expansion scale is expected to increase by about 200% compared to the current Dynamixel CAPA.

Robotis plans to sequentially increase the Dynamixel product portfolio not only for the small robot product group currently focused on but also for products that can be used in medium-sized robots.

Researcher Choi emphasized, "Currently, Robotis is seeing a significant increase in overseas Dynamixel sales as the utilization of robots increases," and added, "From 2023, sales of precision reducers will begin in earnest, and the monetization of indoor autonomous robots currently being supplied will start sequentially from 2023." He added, "All business divisions will record a full-fledged growth trajectory."

This content was produced with the assistance of AI translation services.