Wallbox N.V.(US:WBX)2025-09-23 14:58Revenue and Sales Performance - Revenue for the six months ended June 30, 2025, was €75,931 thousand, a decrease of 17.4% compared to €91,893 thousand for the same period in 2024[5]. - Total sales for the six months ended June 30, 2025, amounted to €64,225 thousand, a decrease from €83,946 thousand in the same period of 2024, representing a decline of approximately 23.6%[46][48]. - Sales of goods amounted to €64,225 thousand, down from €83,946 thousand year-over-year, while sales of services increased to €11,706 thousand from €7,947 thousand[133]. - The Group's revenue from the United States increased to €18,899 thousand (25% of total revenue) in 2025, up from €13,399 thousand (15% of total revenue) in 2024, showing a growth of 41.5%[51]. Financial Losses and Improvements - Operating loss for the first half of 2025 was €38,405 thousand, improved from a loss of €49,049 thousand in the first half of 2024[5]. - Loss for the period was €34,476 thousand for the first half of 2025, compared to a loss of €58,235 thousand for the same period in 2024, indicating a 40.8% improvement[5]. - The total loss for the period ended June 30, 2025, was €34,476 thousand, a decrease from €58,235 thousand in the same period of 2024, resulting in a basic and diluted loss per share of €0.13 compared to €0.31 in 2024[169]. Assets and Liabilities - Total assets decreased to €316,488 thousand as of June 30, 2025, down from €353,066 thousand at the end of 2024, reflecting a reduction of 10.4%[4]. - Total liabilities decreased to €280,350 thousand as of June 30, 2025, from €331,710 thousand at the end of 2024, a reduction of approximately 15.5%[46][48]. - Non-current liabilities increased to €127,793 thousand as of June 30, 2025, from €114,737 thousand at the end of 2024, an increase of 11.4%[4]. - The Group's current assets were €136,007 thousand, while current liabilities were €152,557 thousand, resulting in a negative working capital of €16,550 thousand[197]. Cash Flow and Liquidity - Cash and cash equivalents increased to €27,304 thousand as of June 30, 2025, compared to €20,036 thousand at the end of 2024, representing a growth of 36.5%[4]. - The net cash used in operating activities was €12,119 thousand, compared to a cash outflow of €17,593 thousand in the prior year, indicating a positive cash flow trend[23]. - Wallbox held €32,382 thousand in cash, cash equivalents, and financial investments at the end of June 2025, providing a buffer for operational needs[23]. - The Group's cash and cash equivalents increased to €27,304 thousand as of June 30, 2025, up from €20,036 thousand at December 31, 2024, reflecting a growth of about 36.4%[108]. Equity and Share Capital - Total equity attributable to owners of the Company decreased to €35,271 thousand as of June 30, 2025, down from €64,800 thousand at the end of 2024, a decline of 45.6%[4]. - The consolidated accumulated deficit decreased to €63,770 thousand as of June 30, 2025, compared to €569,175 thousand as of December 31, 2024[116]. - The total share capital as of June 30, 2025, was €65,987 thousand, with a share premium of €3,825 thousand[114]. - The company executed several capital increases during the first half of 2025, primarily through private placements and stock option plans, resulting in a total of 350,169,438 shares outstanding[114]. Expenses and Cost Management - Total operating expenses decreased from €27,962 thousand in June 30, 2024 to €21,153 thousand in June 30, 2025, representing a reduction of approximately 24.5%[139]. - Employee benefits expenses decreased from €36,991 thousand in June 30, 2024 to €28,136 thousand in June 30, 2025, a decline of about 23.8%[140]. - Financial expenses decreased from €11,574 thousand in June 30, 2024 to €8,192 thousand in June 30, 2025, reflecting a reduction of approximately 29.5%[166]. - The Group's marketing expenses decreased from €2,715 thousand in June 30, 2024 to €1,400 thousand in June 30, 2025, a reduction of approximately 48.7%[139]. Inventory and Production - The company experienced a significant increase in inventories, with a change of €20,832 thousand compared to €5,667 thousand in the previous year, indicating potential growth in sales[23]. - The Group's total consumption of inventories and raw materials was €47,090 thousand in June 30, 2025, down from €55,749 thousand in June 30, 2024, a decrease of about 15.5%[138]. Financial Management and Debt - As of June 30, 2025, Wallbox had total borrowings of €181,545 thousand, down from €198,469 thousand as of December 31, 2024, reflecting a reduction in debt levels[24]. - The total amount of bank loans decreased from €194,472 thousand as of December 31, 2024, to €177,598 thousand as of June 30, 2025, a decline of approximately 8.6%[100]. - The Group's loans and borrowings increased to Euros 110,297 thousand as of June 30, 2025, from Euros 98,401 thousand at December 31, 2024[86]. - The Group's capital management aims to maximize shareholder value and may involve issuing new shares or adjusting debt instruments[200]. Tax and Regulatory Matters - The loss before tax for the period was €33,500 thousand, down from €59,501 thousand in the previous year, with a tax income of €8,375 thousand recognized at a 25% tax rate[173]. - As of June 30, 2025, the total tax receivables amounted to €9,302 thousand, a decrease from €11,913 thousand as of December 31, 2024[172]. - The unrecognized tax losses of Wallbox USA Inc. amounted to €56,539 thousand as of June 30, 2025, down from €69,228 thousand as of December 31, 2024[173].