COBOD, a 3D printing home building specialist based in Denmark, has released its 2022 annual report. Despite global economic fluctuations, the report shows good financial figures and the company’s strategic expansion.
Despite the global chaos caused by the outbreak of war in Ukraine and subsequent economic turmoil, COBOD reported robust growth of 40%, increasing revenue from €11 million to nearly €16 million.
COBOD underlined its robust and financially sound business model by being profitable for the fourth consecutive year, with profits of almost 1 million euros. The company continues to focus on the development and sale of 3D construction printers, leaving the execution of construction projects to its global network of customers, distributors and partners, a strategy that is clearly paying off.
In 2022, COBOD strengthened its alliances by inviting industry giants such as General Electric, Holcim and Cemex into its shareholder base. Joint ventures were also entered into with Egyptian construction giant Orascom and Indonesia’s Bakrie Group, reflecting COBOD’s commitment to a partnership model.
COBOD further expanded its global footprint by opening regional centers of excellence and offices in Miami, USA, and Kuala Lumpur, Malaysia, and extending its services to the Americas, Asia and Australia. Future plans include establishing a new regional hub in Dubai to serve the Middle East and Africa, while Europe will continue to be served from its base in Copenhagen.
Henrik Lund-Nielsen, founder and general manager of COBOD, shared, “In 2022, COBOD solidified its leadership position in sales of 3D construction printers, outperforming all other vendors, just as it did in previous years. Since the advent of 3D construction printers, COBOD has sold more printers than all other vendors combined!”
This market dominance is clearly reflected in the number of 3D printed buildings worldwide. COBOD’s 3D printers have been involved in the creation of 52 different buildings worldwide, accounting for approximately 40% of the 130 3D printed structures worldwide. This dominance was even more pronounced in 2022, when COBOD’s 3D printers contributed to the construction of 31 of the 55 new 3D printed buildings, nearly 60% of all new 3D printed buildings produced that year.