Wallbox (WBX) Q1 2025 Earnings Call May 07, 2025 12:00 PM ET Speaker0 everyone, and welcome to Wabox's First Quarter twenty twenty five Earnings Conference Call and Webcast. My name is Charlie, and I'll be your operator for today's call. At this time, all participants' lines have been placed in listen only mode to prevent any background noise. After the speakers' remarks, there will be a question and answer session. I'd now like to turn the call over to Michael Wilhelm from Woolbox to begin. Michael, please ...

2025 EARNINGS REPORT 2025 EARNINGS REPORT Enric Asunción Co-Founder & Chief Executive Officer Luis Boada Chief Financial Officer Michael Wilhelm Investor Relations Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13d OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SE ...

IRVINE, Calif., April 1, 2025 /PRNewswire/ -- Kia America delivered 78,540 total units in March, extending its record-breaking sales streak to six months and propelling the fast-growing brand to the best first quarter performance in company history. Retail transactions at Kia dealerships grew 25-percent year-over-year showing a continuous growth trend. KIA AMERICA ACHIEVES HIGHEST MARCH AND FIRST QUARTER SALES IN COMPANY HISTORY In Q1, Kia achieved total sales of 198,850 units, marking a 10.7-percent increa ...

Wallbox Announces Pre-Order Availability of Quasar 2 Bi-Directional Charger for Flagship SUVIRVINE, Calif., March 4, 2025 /PRNewswire/ -- Eligible Kia EV9 owners and lessees may soon enjoy Vehicle to Home (V2H)1 capabilities thanks to Wallbox (NYSE: WBX), an innovative provider of electric vehicle (EV) charging solutions. Wallbox has announced pre-order availability of the Quasar 2 (including the accompanying Power Recovery Unit), the first compatible bi-directional charger to work with the Kia EV9.2  Eligi ...

Financial Data and Key Metrics Changes - Full year revenue totaled €163.9 million, reflecting a 14% growth compared to last year, driven by the full year contribution of ABL and solid growth in North America, which was up more than 40% year-over-year [9][10] - Q4 revenue was €37.4 million, down 14% year-over-year but improved by 8% compared to the previous quarter, primarily due to slower DC fast charger sales, which were down 34% quarter-over-quarter [15][39] - Adjusted EBITDA improved by 21% year-over-year, from negative €74.2 million to negative €58.8 million, with Q4 adjusted EBITDA at negative €12.3 million, showing a 43% improvement compared to the previous quarter [10][20][43] Business Line Data and Key Metrics Changes - AC sales of €26.9 million represented approximately 72% of global consolidated revenue, with a 14% growth quarter-over-quarter, mainly due to momentum in North America and increased demand in Europe for the Pulsar Family [25][39] - DC sales were €2.9 million, representing 8% of sales in Q4, significantly lower than expected due to inventory build-up with CPO customers [28][39] - Software, services, and others contributed €7.7 million for Q4, representing 20% of total revenue and an 18% growth compared to the previous quarter [31] Market Data and Key Metrics Changes - Europe contributed €25.7 million of consolidated revenue, or 69% of total revenue, remaining the largest region despite a soft market [22] - North America contributed €10.5 million, or 28% of total revenue, representing a 64% year-over-year growth compared to Q4 2023, while the EV market in the region grew 12% [23] - APAC contributed €900,000 or 2%, and LATAM was approximately €400,000 or 1% [24] Company Strategy and Development Direction - The company is focused on right-sizing the organization and optimizing costs to achieve profitability, with a new business unit structure aimed at efficiently servicing target segments [10][12][38] - Wallbox aims to maintain its market share and capitalize on the anticipated growth in EV sales, with a belief that the transition to EVs is inevitable [13][34] - The company is actively working on gross margin expansion opportunities and has reduced headcount by 35% compared to the same period last year [42][45] Management's Comments on Operating Environment and Future Outlook - Management acknowledged 2024 as a challenging year for the EV market, with only 6% growth year-over-year in the main regions [8][32] - Despite the current volatility, management remains optimistic about long-term growth prospects, expecting high double-digit growth in the EV market for 2025 [34][37] - The company is focused on generating profitable growth and is getting closer to this objective, with guidance for Q1 2025 revenue in the €34 million to €37 million range and a negative adjusted EBITDA between €8 million and €11 million [53] Other Important Information - The company raised an additional $45 million from strategic investors in 2024, excluding a $10 million private placement announced in February 2025 [12] - The company ended the quarter with approximately €46 million in cash and cash equivalents, while loans and borrowings were approximately €198 million [44][45] - Inventory was reduced to €71.1 million, a 23% decrease compared to the same period last year, with expectations for continued optimization [48] Q&A Session Summary Question: How should the product mix evolve in the U.S. market given potential regulatory changes? - Management indicated that the mix should improve towards fast charging, with the launch of the Supernova UL and certifications expected to increase the addressable market for fast charging [57][59] Question: What is the path to becoming EBITDA positive in the next 12 to 18 months? - Management emphasized maintaining or increasing market share and highlighted that reaching revenues of around €40 million to €45 million should allow the company to break even [62][68] Question: What is the company's exposure to import tariffs and how is it managing this risk? - Management noted that a significant part of revenue comes from Europe, reducing exposure, and mentioned plans to localize more manufacturing in North America if necessary [73][75] Question: How does the recent €10 million capital raise impact funding runway and future capital needs? - Management expressed confidence in managing cash flow and minimizing the need for additional capital, focusing on inventory reduction and working capital optimization [81][84]

The electric vehicle charging industry stock has been trending lower on the back of macroeconomic challenges, cash burn, and slower than expected adoption of EVs. Intense competition is another factor that has negatively impacted sentiments.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving comp ...

Financial Data and Key Metrics Changes - Year-to-date revenue reached €126 million, reflecting a 26% growth compared to the same period last year [6] - Q3 revenue was €34.7 million, up 7% year-over-year, impacted by a one-off revenue charge of €1.6 million [14][30] - Gross margin for Q3 was 23%, heavily impacted by a one-off inventory provision, with an adjusted gross margin closer to historical results when excluding this impact [16][31] - Adjusted EBITDA loss for Q3 was €21.8 million, breaking the improvement trend seen in the previous quarter due to the inventory provision [18][32] - Cash and cash equivalents at the end of the quarter were approximately €71 million, with long-term debt around €84 million [33] Business Line Data and Key Metrics Changes - AC sales contributed €23.7 million, representing approximately 68% of total revenue, with strong performance in North America [21][22] - DC sales were €4.4 million, representing 13% of revenue, impacted by expected order delays due to excess inventories [23] - Software, services, and others contributed €6.6 million, representing 19% of total revenue, with Electromaps showing 55% quarter-over-quarter growth [25] Market Data and Key Metrics Changes - Europe contributed €22.9 million of consolidated revenue, growing modestly by 1% year-over-year, while the EV market in Europe declined by 13% [20] - North America showed strong progress with 45% year-over-year growth, contributing €9.7 million or 28% of total revenue [21] - APAC and LatAm contributed €1.2 million and approximately €800,000 respectively, indicating a diversified geographical footprint [21] Company Strategy and Development Direction - The company is adjusting its organizational structure to be business unit-driven, focusing on core business units such as common business and fast charging [9][10] - Plans to improve gross margins across all product groups through better procurement processes and strategic partnerships [11][12] - New products like Quasar 2 and Supernova 220 are expected to open new markets, particularly in Germany [13] Management's Comments on Operating Environment and Future Outlook - The current EV market is volatile, impacting performance, but the company remains optimistic about long-term growth potential [27][28] - Management expects revenue in Q4 to be in the €40 million to €45 million range, with a gross margin target of 38% to 40% [39] - The company aims for a profitable year in 2025, adapting its structure to current revenue levels while seeking to capture market share [41][42] Other Important Information - The resignation of Anders Petterson as Non-Executive Chairman and the appointment of Beatriz Gonzalez as his replacement were announced [36] Q&A Session All Questions and Answers Question: When does the company expect to achieve EBITDA flat to positive? - Management indicated that they expect to adapt the cost structure to current revenue levels within two to three quarters, aiming for profitability in 2025 [41][42] Question: Is there still inventory in the European AC market? - Management stated that there is no inventory issue in the AC segment in Europe, with strong performance across all countries and segments [44] Question: What are the expectations for EV sales across different regions next year? - Management expects growth in both North America and Europe, driven by new regulations and models, with a forecast of 10% to 15% growth for the EV market [49]

2024 EARNINGS REPORT wallbox i @@ . (B) 2024 EARNINGS REPORT Enric Asunción Co-Founder & Chief Executive Officer Luis Boada Chief Financial Officer Michael Wilhelm Investor Relations Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the ...

WALLBOX N.V. AND SUBSIDIARIES Interim Condensed Consolidated Financial Statements June 30, 2024 and 2023 __ Exhibit 99.2 WALLBOX N.V. Index to Interim Condensed Consolidated Financial Statements Interim Condensed Consolidated statements of financial position as of June 30, 2024 and December 31, 2023 2 Interim Condensed Consolidated statements of profit or loss and other comprehensive income for the six months ended June 30, 2024 and 2023 3 Interim Condensed Consolidated statements of changes in equity for t ...