Slide 1: Earnings Report
N O VE M B E R 9 , 2 0 2 3 Earnings Report
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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 o
Slide 3: What We'll Cover Today
EARNINGS REPORT What We’ll Cover Today Wallbox Highlights Q3 ABL Transaction Partnerships & Commercial Wins Financial Review Market Outlook Q&A 3
Slide 4: Q3 Highlights
Q3 HIGHLIGHTS SELL-THROUGH UNIT GROWTH OF 30 COST REDUCTIONS OF DC REVENUE GROWTH % €4.5M 35O REVENUE €32.5M EBITDA LOSS YOY % €16.6M YOY ANTICIPATED CONTINUED DESTOCKING EXPECT TO E X C E E D WITH LESS DC DEMAND €5OM GROSS MARGINS LESS 35% 53O AN IMPROVEMENT OF DRAMATIC €4.6M BASIS POINT IMPROVEMEN
Slide 5: Market Overview: EV Demand Macro Landscape
MARKET OVERVIEW EV Demand The energy transition from fossil fuels Macro Landscape to alternative sources will occur. Installs anticipated We continue to build the energy 9O% by 2O3O management system needed for this transition and its resonating with customers. of expected charge point Governments h
Slide 6: Q3 at a Glance: Revenue Breakout and DC Customer Examples
Q3 AT A GLANCE Geographic Mix – Portfolio This drastic mix shift is an exciting testament to the transformation we are going through, not Revenue 1 Breakout 1 only in product, but in software and services… €22.7M 59% 25% E UR O PE (7 0 % ) AC DC CHARGING CHARGING €1M DC Customer Examples L A T A M (
Slide 7: Cost Saving Initiatives
Q3 AT A GLANCE Cost Saving Initiatives SUBSTANTIAL COST REDUCTIONS ACHIEVED EMPLOYEE BENEFITS 44 50 Starting point costs reduction – highest point cash costs & OPEX OF €33.2M 40 40 AN IMPROVEMENT OF €4.5 M 38 33 33 Continued improvement expected to proceed FROM Q2 2023 // €16.8M LOWER THAN Q4 2022 Q
Slide 8: ABL Transaction: EV Charging Player in Europe
With this first pure- play consolidation; Wallbox becomes the EV CHARGING PLAYER IN EUROPE €6O-75M Expected 2024 sales contribution A rich customer base: 2.7M #1 ABL is the leading EV charging provider in Germany with 14% market share EV Fleet YTD - Germany is the largest EV market in Europe by size
Slide 9: Commercial Synergies
COMMERCIAL SYNERGIES Highly synergetic transaction completing the full suite product portfolio and accelerate our business plan RESIDENTIAL COMMERCIAL PUBLIC Pulsar UL Quasar 2 UL Orion UL Supernova 22kW Bi-directional MID Meter 180kW SUPPORTING SOFTWARE STACK & INSTALLATION SERVICES Pulsar Max 22kW
Slide 10: Operational Synergies
OPERATIONAL SYNERGIES ADDS FACILITIES IN Germany Fully automated With the Morocco Cost Optimized W I T H C A P A C I T I E S +injection molding transaction F O R : +socket manufacturing we have FURTHER secured Vertical Integration additional POTENTIAL SAVINGS OF MILLIONS operational capabilities IMP
Slide 11: Financial Synergies
FINANCIAL SYNERGIES Strong financial GROSS MARGINS synergies driving 4O% WITH substantial sales €150M T OPPORTUNITIES TO IMPROVE and accelerating FURTHER REVENUE IN 2O22 path to profitability POSITIVE ADJ T EBITDA IN 2O22 SIGNIFCANT THANKS TO A RECENTLY COSTS COMPLETED COST IMPROVEMENT T REDUCTION P
Slide 12: Partnerships & Commercial Wins
PARTNERSHIPS & COMMERCIAL WINS 12
Slide 13: Financial Review: Revenue, Gross Margin, Adjusted EBITDA
FINANCIAL REVIEW Q3 R E V E N U E 1 Q3 Gross Margins of 35% €32.5M Mix shifts from new products impact margins DC margins are now above 30% , up from 10% last year. S E LL - T H R OU GH 2 Cash Cost Reduction of €38.8M since Q4 2022 V OLU ME I N CR E A S E D Expect to exceed committed Most recent qua
Slide 14: Q3 Key Financial Metrics
FINANCIAL REVIEW Q3 Key Financial Metrics €81M €65M 1 1 Ending Cash & Equivalents Long-term Debt – End of Q3 – End of Q3 €4.2M €94M 2 CAPEX Inventory – Slightly down sequentially - In Q3 - End of Q3 1.Excluding Additional Financing Of € 35mn In October | 2. Excluding R&D Salary Activation 14
Slide 15: Q3 Loans & Repayment
FINANCIAL REVIEW Q3 Loans & Repayment €84M Total Loans €65M €19M Long-term – End of Q3 Short-term – End of Q3 MATURITY SCHEDULE Long-Term & Short-Term (M EUR)1 84 -19.3 -19.9 -17.0 -15.9 -6.3 -5.0 Debt Position 2024 2025 2026 2027 2028 2029+ 2023 Q3 Repayment Repayment Repayment Repayment Repayment
Slide 16: Market Outlook
We are: Listening to our customers MARKET OUTLOOK Investing in the future Staying the course The foundations have been set, and now we scale. In order to: Take market share Control costs Transition to profitability in 2024 16
Slide 17: Wallbox
wallbox # wallbox #- 7
Slide 18: Reconciliation
FI NANCI AL OVERVI EW Reconciliation1 YEAR 2023 YEAR 2022 Unaudited, in € 000’s Q3 Q2 Q3 Operating Loss (28,283) (31,001) (29,888) Change in fair value of derivative warrant liabilities 2,152 8,612 11,800 Foreign exchange gains/(losses) (1,787) 4 (7,903) Amortization and depreciation 7,430 5,981 4,0
Slide 19: Definitions and Disclosures
Definitions and Disclosures 1 “EBITDA” is defined as loss for the period before income tax credit, financial income, interest expenses, amortization and depreciation. DEFINITIONS 2 “Adjusted EBITDA” is defined as loss for the period before depreciation and amortization, income tax credits, and finan