Company Overview - Wallbox is a Barcelona-based EV charging provider involved in designing, producing, and distributing EV charging solutions across 117 countries, with a total addressable market (TAM) of $102 billion [2] - The company went public in October 2021 through a merger with Kensington Capital Acquisition Corp. II, initially trading at $8.60 and reaching an all-time high of $18.50, but has since dropped to $1.37, losing over 85% of its value [3][4] Financial Performance - In Q2, Wallbox generated €48.8 million in sales, a 48% year-over-year increase and a 13.2% sequential increase, with North American revenue growth exceeding 65% in AC and DC sales [10][11] - The company improved its gross margins to 39.1%, marking a 936 basis point increase from the previous year, and achieved its first month of positive adjusted EBITDA in June [11] - Despite these improvements, Wallbox reported a net loss of $123.7 million last year, an 84% increase from the previous year's loss of $67.2 million, and has a cash balance of $118 million against total debt of $271.9 million, indicating a cash runway of just 10.3 months [11][12] Market Dynamics - The global EV market saw a 35% increase in sales to 14.2 million units last year, but this growth was slower than the previous year's 55% surge, attributed to economic headwinds and subsidy cuts in Europe [8] - In the U.S., EV deliveries grew by 48% last year, supported by the Inflation Reduction Act, but the anticipated boost in adoption did not materialize as expected [8] - The first half of 2024 saw global EV sales reach 7 million units, a 20% year-over-year increase, with China leading sales at 4.1 million units [8] Future Outlook - Analysts predict a potential recovery for the EV market in 2025, driven by anticipated interest rate cuts and stricter regulations, which could stimulate demand for EVs [9] - Wallbox's fair value model suggests a substantial upside potential, with a base case indicating a 14% upside from current prices, while the bear case suggests a 37% downside [19] - The company is positioned to benefit from its innovative product portfolio, including bidirectional chargers, which could enhance its competitive edge in a rapidly evolving market [5][21]

Financial Data and Key Metrics Changes - In Q2 2024, the company reported revenue of EUR 48.8 million, representing a 48% year-over-year increase, driven by strong sales in North America, particularly in AC and DC segments [9][20] - Gross margins stood at 39.1%, showing a 936 basis points improvement compared to the same period last year, attributed to cost engineering and strategic sourcing efforts [11][21] - The adjusted EBITDA loss was EUR 11.2 million, a 47% year-over-year improvement, indicating progress towards profitability [12][22] Business Line Data and Key Metrics Changes - AC sales in North America grew significantly, contributing EUR 32.2 million, which is 66% of total revenue, and showed a 55% year-over-year improvement [14] - DC revenue increased by 64% year-over-year, contributing 22% of total revenue, driven by strong demand for the Supernova 180 and the introduction of the Supernova 220 [16][17] - The ABL segment continued to contribute positively, with notable installations such as 424 eM4 charging points in Germany [10] Market Data and Key Metrics Changes - In Q2 2024, North America experienced a 65% growth in revenue compared to the previous year, while Europe saw a 44% increase despite a softer market environment [13] - The overall EV market showed mixed growth, with a 19% increase in global EV sales, 11% in North America, and a 3% decrease in Europe year-over-year [19] Company Strategy and Development Direction - The company secured a $45 million strategic investment, primarily from Generac, to strengthen its balance sheet and support growth initiatives [5][24] - Wallbox is focusing on expanding its product portfolio and strategic partnerships, such as with Free2Move and Generac, to enhance market presence and sales [15][31] - The introduction of new products like the Supernova 220 aims to meet customer demands for higher power charging solutions [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth in the EV market, despite current market slowdowns, and emphasized the importance of strategic partnerships and product diversification [19][26] - The company remains committed to achieving positive adjusted EBITDA by the end of the year, despite challenges in the market [28][29] Other Important Information - The company ended the quarter with EUR 65.2 million in cash and equivalents, positioning it well for future growth and operational needs [24] - Inventory was reduced by 5% sequentially, indicating effective inventory management strategies [25] Q&A Session Summary Question: Will the company achieve positive EBITDA in Q4 2024? - Management confirmed that they are aiming for positive adjusted EBITDA by year-end, with June showing positive results [28] Question: What are the additional capital needs following the recent funding? - Management stated that the recent funding strengthens the balance sheet and does not anticipate additional funding until the company generates positive cash flow [29] Question: What are the drivers behind the strong AC unit sales despite market softness? - Management highlighted strategic agreements and product portfolio expansion as key drivers for AC sales growth in North America [30][31]

Financial Data and Key Metrics Changes - Q1 2024 revenue was €43.1 million, up 23% year-over-year, driven by EV market seasonality and impacted by softer AC sales in the US [7] - Gross margins were 39.6%, positively impacted by cost engineering, strategic sourcing, and lower transportation costs [8] - Adjusted EBITDA loss tightened to €13.5 million, representing a year-over-year improvement of 38% [9][33] - Consolidated cash, cash equivalents, and financial instruments were approximately €83 million at the end of March [36] Business Line Data and Key Metrics Changes - AC sales contributed €29.9 million, representing approximately 69% of global consolidated revenue, down 1 percentage point from last year [11] - DC revenue increased by more than 100% year-over-year, contributing 19% of total revenue, a 9 percentage point increase from the prior year [12] - ABL results were in line with expectations, with a focus on cross-selling opportunities [7][10] Market Data and Key Metrics Changes - Europe contributed €36.5 million of consolidated sales, or 85% of total revenue, growing by almost 30% year-over-year [10] - North America contributed €4.7 million, impacted by an inventory adjustment at a specific retailer [10] - APAC and LATAM contributed €1.3 million and approximately €600,000, respectively [10] Company Strategy and Development Direction - The company is focused on growing sales in key geographies, including North America, Germany, and Western Europe, and in attractive market verticals like commercial applications and public DC fast charging [46] - Plans to expand gross margins through cost engineering, quality improvements, and strategic sourcing [48] - Emphasis on aligning the cost base with market realities through thoughtful R&D spending and disciplined OpEx allocation [49] Management's Comments on Operating Environment and Future Outlook - Management believes the long-term potential of the EV industry remains solid despite current economic dynamics and market volatility [27] - The company aims to exit the current period in a strong competitive position, leveraging its diversified product portfolio [28] - Expectations for close to breakeven adjusted EBITDA in Q2 2024 due to new product introductions and strong traction in North America [9][32] Other Important Information - The company is integrating ABL and has launched the eM4 product across key markets in Europe [20] - A commercial agreement with Generac has been established, expected to provide significant long-term commercial opportunities [23][24] - Inventory levels have decreased by 5% from the previous quarter, with a goal to continue reducing total inventory by the end of the year [38][39] Q&A Session Summary Question: Does Tesla's charging news create opportunities for Wallbox in the U.S. or Europe? - Management sees positive implications for customers, as it allows for more installations and increased sales of chargers [54] Question: Have there been changes in U.S. utilities regarding bidirectional charging technology? - Initial programs are underway in California, with significant opportunities arising from partnerships with OEMs like Kia [58] Question: What drove the significant increase in average price per AC unit? - The increase is attributed to a shift towards commercial charging, which is generally more expensive, and a reduction in discounts [63][66] Question: What is the expected revenue contribution from ABL for the quarter? - ABL is expected to contribute between €50 million to €65 million for the year, despite a softer market in Europe [70] Question: How are DC sales expected to ramp up in 2024 and 2025? - DC sales are projected to grow between 80% to 120% year-over-year, driven by the rollout of Supernova in North America [71][73] Question: How are operations in Texas progressing and what is the margin profile for DC? - Operations in Arlington are efficient, with potential gross margins for DC products expected to exceed 40% [79]

3 4 ＥＡＲＮＩＮＧＳ ＲＥＰＯＲＴ 6 wallbox " 「 A Y N o N 4 9 ENRIC ASUNCIÓN Co-Founder & Chief Executive Officer Chief Financial Officer JORDI LAINZ Q 1 2 O 2 4 E A R N I N G S R E P O R T ` Chief Financial Officer Effective 15 May 2024 LUIS BOADA MICHAEL WILHELM Investor Relations 2 D I S C L A I M E R ` This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forwardlooking statements to be covered by the safe harbor provisions for ...

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 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Date of event requiring this shell company report: Commission file number 001-40865 Wallbox N.V. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Regist ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced the start of deliveries of Pulsar Pro North America in the United States. Pulsar Pro is the latest addition to Wallbox's award-winning Pulsar family of smart EV chargers, designed specifically for shared spaces like multi-unit residential and commercial properties. "Our Pulsar family was born from a need to make EV charging smarter, faster and better," said Enric As ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Wallbox (NYSE: WBX), a global leader in electric vehicle (EV) charging and energy management solutions, and COIL, a leading EV charging installation service and Wallbox subsidiary, announced today that, in conjunction with partners Clean and Prosperous Institute and Adopt a Charger, they have secured proposed awards of $25.6 million from the Washington Department of Commerce’s Electric Vehicle Charging Program. The awards, announced as part of the Department’s first r ...

Wallbox N.V. (NYSE:WBX) Q4 2023 Results Conference Call February 28, 2024 8:00 AM ET Company Participants Matt Tractenberg - VP of IR Enric Asuncion - CEO Jordi Lainz - CFO Conference Call Participants George Gianarikas - Canaccord Ben Khalo - Baird Operator Hello, everyone. And welcome to Wallbox's Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast. My name is Charlie, and I'll be the operator for today's call. At this time, all participants lines have been placed in listen only mode to ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Today Wallbox; (NYSE: WBX), a global leader in electric vehicle (EV) chargers, announced the start of production for its UL certified DC fast EV charger, Supernova 180. This marks the product's official launch onto the North American market. Supernova 180 is Wallbox’s third-generation DC fast EV charger designed exclusively for North America, following the successful rollout of Supernova 60 and Supernova 150 in Europe. Supernova 180 combines cutting-edge technology ...

COPENHAGEN, Denmark--(BUSINESS WIRE)--Aegir Insights, a leading provider of decision-making software, data, and intelligence for the offshore wind sector, has raised €8.5M in Series A funding, led by Seaya Andromeda with the participation of Climentum Capital. The company will use the funds to develop the next generation of its web platform, encompassing decision software, data, and intelligence products for the offshore wind industry. Offshore wind power is among the fastest growing segments within clea ...