T-Robotics' Growth Gains Momentum with New Humanoid Business and Recognition of Ford Energy Battery Revenue

[Financial News] SK Securities said on the 23rd that T-Robotics is expected to post KRW 98.3 billion in revenue and KRW 7.1 billion in operating profit in 2027, driven by a recovery in vacuum robot shipments, a return to profitability supported by new energy storage system (ESS) revenue from customers including Ford Energy Battery, and the commercialization of industrial humanoids. The brokerage did not provide an investment opinion or target price.
Heo Seon-jae, an analyst at SK Securities, said, "T-Robotics struggled in the first quarter because of a gap in customer investment, but shipments to Chinese panel makers, including BOE, surged from the third quarter. As a result, annual vacuum robot revenue is expected to reach approximately KRW 42.4 billion this year." He added, "This represents a 25.8% increase from the previous year and is expected to significantly exceed the average revenue in the KRW 30 billion range recorded from 2023 to 2025."
He continued, "The company secured Ford Energy Battery as a customer this year and had accumulated KRW 18.6 billion in orders through September. Revenue from autonomous mobile robots (AMRs) rose 133.3% year on year to KRW 9.8 billion."
T-Robotics is an industrial robot manufacturer whose main products include vacuum robots for displays and semiconductors, as well as AMRs. Its major customers include U.S. Company A, Samsung Display, LG Display, BOE, and Ford Energy Battery.
The company is conducting field tests of its self-developed industrial humanoid, TR-WORKS, through KAIROS, a physical artificial intelligence (AI) dark-factory demonstration platform supported by the Ministry of Science and ICT. It is expected to begin supplying the humanoid next year. The robot combines an upper body based on vacuum robot technology with an AMR platform and is specialized in material transport and loading between processes.
Heo analyzed, "The KAIROS demonstration is expected to lead to expanded supply through the Jeonbuk AX project and the Saemangeum Physical AI Cluster. In particular, Hyundai Motor Group is pursuing the creation of an AI industry hub in Jeonbuk's Saemangeum area, including a robot manufacturing and parts cluster, laying the foundation for expanded supply over the medium to long term."
He further forecast, "T-Robotics' consolidated revenue this year is expected to reach KRW 62.1 billion, up 41.8% from the previous year, while operating profit is expected to reach KRW 1.7 billion in the third quarter, marking a return to profitability after six quarters. Driven by growth in scale from securing new ESS customers, beginning humanoid supplies, and the expansion of AI Robotics' customer base, revenue in 2027 is expected to rise 58.1% year on year to KRW 98.3 billion, while operating profit is projected to reach KRW 7.1 billion after the return to profitability."



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