2023-11-09 18:23:52
ACN Barcelona – Wallbox recorded losses of 28.28 million euros in the third quarter compared to 29.8 million in the same period last year, as reported by the company on Thursday. Thus, the company dedicated to the manufacture of chargers for electric vehicles has reduced the negative result by 5.3% annually. If compared with the previous quarter, between June and September the losses were 31 million euros. In terms of revenues, they stood at 32.5 million, in line with the previous two quarters, which were around 33 million but 26.3% lower than the same period in 2022. On the other hand, the company has highlighted that it has achieved a gross margin of 35%, 5.3% more than the previous quarter.
In a statement, the company also noted the 285% increase in the number of chargers sold in the public sector, while revenue increased by 350%, compared to the same period last year.
By geographic area, 70% of the revenue came from Europe (22.7 million), 3% from Latin America (1 million), 6% from the Asia Pacific area (2 million) and 21% a conglomerate of countries (6.7 million euros).
A few weeks ago, the company led by Enric Asunción announced the purchase of the German ABL for 15 million euros with the aim of boosting the group’s sales and accelerating its business plan in a key market in the sector automotive as is the German. According to the company, this operation must also allow it to “advance on its path to profitability”.
Asunción has celebrated that with this operation Wallbox becomes the sector leader at European level in the public cargo sector by volume and “brings many synergies” since the activity carried out by ABL is not carried out by the Catalan company and allows the entry into the German market.
In this sense, he expects ABL to contribute between 60 and 70 million euros in the company’s income, a positive Ebitda and two plants in Germany and Morocco. Regarding the number of workers, the German company will contribute 320 workers after it already faced adjustments in its workforce.
Previously, in a call with investors, the CEO of Wallbox, Enric Asunción, stressed that the company expects to break even in the first quarter of next year.
On the other hand, Wallbox has also signed a collaboration with Kia America to offer the Quasar 2 bi-directional charger together with the new EV9 electric SUV from 2024.
Looking to the future, the director of the Catalan multinational has ruled out more acquisitions this year, at least this year, and that in the short term he will focus on completing the integration of ABL. “I don’t think we need acquisitions of this type”, commented Asunción, who has not ruled out another operation for next year
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