# EDGAR Filing Document

**Accession Number:** 0001866501
**File Stem:** 0001193125-23-056572
**Filing Date:** 2023-3
**Character Count:** 41104
**Document Hash:** a27f6c327859206ab5693a482c4ee7d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-056572.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001193125-23-056572

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20230301

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wallbox N.V.
- **CENTRAL INDEX KEY:** 0001866501
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40865
- **FILM NUMBER:** 23695112

**BUSINESS ADDRESS:**
- **STREET 1:** CARRER DEL FOC, 68
- **CITY:** BARCELONA
- **STATE:** U3
- **ZIP:** 08038
- **BUSINESS PHONE:** 34 93.220.43.08

**MAIL ADDRESS:**
- **STREET 1:** CARRER DEL FOC, 68
- **CITY:** BARCELONA
- **STATE:** U3
- **ZIP:** 08038

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wallbox B.V.
- **DATE OF NAME CHANGE:** 20210609

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM 6-K** 

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**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO SECTION 13A-16 OR 15D-16** 

**UNDER THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of March 2023** 

**Commission File Number: 001-40865** 

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## Wallbox N.V.
**(Translation of registrant's name into English)** 

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**Carrer del Foc, 68** 

**Barcelona, Spain 08038** 

**Tel: +34 930 181 668** 

**(Address of principal executive office)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

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**EXPLANATORY NOTE** 

On March 1, 2023, Wallbox N.V. (the "Company") released information regarding its results of operations for the three months and year ended December 31, 2022. A copy of the Company's press release and presentation materials are furnished hereto as Exhibits 99.1 and 99.2, respectively.

**WALLBOX N.V. FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS** 

Full Year 2022 Highlights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For the year ended December 31, 2022, the Company had revenue of €147 million, gross margin of
40.5% and operating loss of €136.7 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wallbox opened two factories: one in Arlington, Texas and the other in Barcelona, Spain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company sold more than 230,000 chargers worldwide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wallbox completed the acquisitions of two companies: ARES Electronics Solutions, S.L. and Coil, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wallbox launched Supernova, its new public DC fast charger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company announced strategic partnerships with, among others, Nissan, Fisker, Uber, BestBuy, and Lyft to
provide chargers and installation services to their customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• As of December 31, 2022, the Company had cash and equivalents of €83.3 million and long-term debt
of €44.4 million.

Fourth Quarter 2022 Highlights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For the three months ended December 31, 2022, the Company had revenue of €37.3 million, gross
margin of 40.5% and operating loss of €43.3 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wallbox received non-binding letters of intent totaling approximately
$30 million in sales for Hypernova.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In November 2022, the Company raised aggregate gross proceeds of €43.5 million through a private
placement of its Class A ordinary shares to existing investors and strategic partners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• During the three months ended December 31, 2022, the following geographic regions represented, as a
percentage of total revenue for the period, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. – 25%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Europe – 66%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Asia Pacific – 6%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Latin America – 3%

---

| | | | |
|:---|:---|:---|:---|
| **Consolidated Statements of Profit or Loss Data** | | | |
| *(In thousand Euros)* |  |  |  |
|  | **Year Ended**<br>**December 31,** | **Year Ended**<br>**December 31,** | **Three Months<br>Ended**<br>**December 31,** |
|  | **2022** | **2021** | **2022** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue | 146971 | 71579 | 37305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in inventories and raw materials and consumables used | (87485) | (44253) | (24002) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits | (87590) | (29666) | (22472) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses | (91555) | (43405) | (26741) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization and depreciation | (18890) | (8483) | (6833) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net other income | 1844 | 656 | (606) |
|  **Operating Loss** | **(136705)** | **(53572)** | **(43349)** |

---

------

---

| | | |
|:---|:---|:---|
| **Cash and Cash Equivalents and Financial Investments** | | |
| *(In thousand Euros)* | **Year Ended<br>December 31,** | **Year Ended<br>December 31,** |
|  | **2022** | **2021** |
|  Cash and cash equivalents | 83308 | 113865 |
|  Financial investments<sup>(1)</sup> | 5158 | 56982 |
|  **Total cash, cash equivalents and financial investments** | **88466** | **170847** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup> Financial investments are included in Other current financial assets |  |  |

---

---

| | | |
|:---|:---|:---|
| **Investments in PP&E and Long-term Borrowings** | **Investments in PP&E and Long-term Borrowings** | **Investments in PP&E and Long-term Borrowings** |
| *(In thousand Euros)* | **Year Ended<br>December 31,** | **Year Ended<br>December 31,** |
|  | **2022** | **2021** |
|  **Investments in PP&E:** |  |  |
|  Investments in Property, plant and equipment and Intangible Assets | Investments in Property, plant and equipment and Intangible Assets | Investments in Property, plant and equipment and Intangible Assets |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property, plant and equipment | 36262 | 20945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets - excluding R&D (salaries capitalized) | 9431 | 7978 |
|  **Total Investments in Property, plant and equipment and Intangible Assets** | **45693** | **28923** |
|  **Long-term Borrowings:** |  |  |
|  **Total Loans and borrowings long term** | **44359** | **17577** |

---

**Definitions and Basis of Presentation** 

Gross Margin is defined as revenue less changes in inventory, raw materials and other consumables used.

Long-term debt includes assumed debt from recent acquisitions and other additional facilities.

Operating loss consists of the Company's revenue and other income less changes in inventories and raw materials and consumables used, employee benefits, other operating expenses and amortization and depreciation.

The information included this Report on Form 6-K under the heading "Wallbox N.V. Announces Fourth Quarter and Full Year 2022 Financial Results" is hereby incorporated by reference into the Company's Registration Statement on Form S-8 (File No. 333-263795), Registration Statement on Form F-3 (File No. 333-268347) and Registration Statement on Form F-3 (File No. 333-268792), except for Exhibit 99.1 and Exhibit 99.2 hereto, which shall not be deemed incorporated by reference into such registration statements.

**EXHIBIT INDEX** 

---

| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| 99.1 | [Wallbox N.V. Press Release, dated March 1, 2023](d441778dex991.htm) |
| 99.2 | [Wallbox N.V. Presentation, dated March 1, 2023](d441778dex992.htm) |

---

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Wallbox N.V.** | **Wallbox N.V.** |
| Date: March 1, 2023 | By: | /s/ Enric Asunción Escorsa |
|  |  | Enric Asunción Escorsa |
|  |  | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g441778g0301215358125.jpg)

**Wallbox Announces Fourth Quarter and Full Year 2022 Financial Results** 

**BARCELONA, SPAIN**—March 1, 2023—Wallbox N.V. (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its financial results for the fourth quarter and full year ended December 31, 2022 and provided a business update.

**Full Year 2022 Highlights:** 

• Opened two new state of the art factories, one in Arlington, Texas, the other in Barcelona, Spain

• Sold more than 230,000 chargers worldwide

• Acquired two attractive companies, ARES Electronics and Coil, Inc.

• Launched Supernova, a new public DC fast charger

• Generated record revenues of €147 million, an increase of more than 100% compared to 2022, and
achieved gross margins<sup>1</sup> of 40.5%

• Announced strategic partnerships with, among others, Nissan, Fisker, Uber, BestBuy, and Lyft to provide
chargers and installation services to their customers.

**Fourth Quarter 2022 Highlights:** 

• Secured letters of intent totaling nearly $30 million for Hypernova, the company's 400kW DC fast
charging station designed to satisfy current U.S. government subsidy requirements.

• Generated revenues of €37.3 million, an increase of 44% compared to the fourth quarter of 2021 and
again exceeding the global EV market growth

• Delivered exceptional revenue growth of 425% in North America

• Raised €43.5 million through the sale of common shares to private investors including company
management, board members, and strategic partners.

**Executive Commentary** 

Enric Asuncion, CEO of Wallbox, said, "2022 was an eventful year for us, doubling the size of our business, opening two new factories, completing several acquisitions, launching new products, and forging exciting new partnerships. However, EV deliveries in Europe were challenged by multiple factors, including disruptive economic and geopolitical events. And while our results came in slightly shy of the expected range, consistently growing our business in excess of the market is a testament to the strength of our portfolio and operations."

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<sup>1</sup> Gross margin is defined as revenue less changes in inventory, raw materials and other consumables used divided by revenues.

------

Mr. Asuncion continued, "Looking forward, the business environment in the near-term remains complex, and industry sources have once again revised European EV forecasts down for 2023, but we remain constructive on the underlying fundamentals of the market and our competitive position. To ensure we are best positioned for the massive wave of charging infrastructure needed in the future, we are focused on optimizing our business today, conserving cash, and achieving profitability so that we are able to offer customers best in class solutions, while creating value for shareholders."

**Financial Outlook** 

The following reflects the company's expectations for select key financial metrics for the first quarter and full year 2023.

**First Quarter 2023** 

• Expect first quarter 2023 revenue between €35 million and €40 million, representing an
approximate quarterly year-over-year growth rate between 25% and 45%

• Expect gross margin flat sequentially

**Full year 2023** 

• Expect full-year 2023 revenue between €240 million and €290 million, representing an
approximate annual year-over-year growth rate between 60% and 100%

• Expect gross margin of approximately 38%

**<u>Conference Call Information</u>**

Wallbox NV will host a conference call to discuss the results and provide a business update at 8:00 AM Eastern Time today, March 1, 2022. The live audio webcast and accompanying presentation, will be accessible on Wallbox's Investor Relations website at <u>https://investors.wallbox.com/overview/default.aspx</u>. A recording of the webcast will also be available following the conference call.

------

**Fourth Quarter 2022 Unaudited Financial Results** 

**Wallbox N.V.** 

**Abbreviated Income Statement – EUR** 

---

| | | | |
|:---|:---|:---|:---|
| **Consolidated Statements of Profit or Loss Data** | | | |
| *(In thousand Euros)* |  |  |  |
|  | **Year Ended**<br>**December 31** | **Year Ended**<br>**December 31** | **Quarter Ended**<br>**December 31** |
|  | **2022** | **2021** | **Q4 2022** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue | 146971 | 71579 | 37305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in inventories and raw materials and consumables used | (87485) | (44253) | (24002) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits | (87590) | (29666) | (22472) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses | (91555) | (43405) | (26741) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization and depreciation | (18890) | (8483) | (6833) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net other income | 1844 | 656 | (606) |
|  **Operating Loss** | **(136705)** | **(53572)** | **(43349)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; One off expenses |  | 8046 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee Stock Options Plan | 31401 | 2455 | 6826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization and depreciation | 18890 | 8483 | 6833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income | (1844) | (656) | 606 |
|  **Adjusted EBITDA** | **(88258)** | **(35245)** | **(29084)** |

---

Adjusted EBITDA is defined as loss for the year before depreciation and amortization, income tax credits, and financial income and interest expense further adjusted to take account of the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These non-cash and other items include, but not are limited to; change in fair value of convertible bonds and derivative warrants, share listing expenses, foreign exchange gains and losses, share based payments expense and other one-off expenses/income related to special operations.

------

**Wallbox N.V.** 

**Cash & Cash Equivalents – EUR** 

---

| | | |
|:---|:---|:---|
| **Cash and Cash Equivalents** | | |
| *(In thousand Euros)* |  |  |
|  | **Year Ended December 31** | **Year Ended December 31** |
|  | **2022** | **2021** |
|  Cash and cash equivalents | 83308 | 113865 |
|  Financial Investments (1) | 5158 | 56982 |
|  Cash, cash equivalents and Financial Investments at 31 December | 88466 | 170847 |

---

(1) Financial Investments are included in Other current financial assets

**Wallbox N.V.** 

**Investments in PP&E and Long-term Borrowings - EUR** 

---

| | | |
|:---|:---|:---|
| **Investments and Long-term Borrowings** | | |
| *(In thousand Euros)* | **Year Ended December 31** | **Year Ended December 31** |
|  | **2022** | **2021** |
|  Investments in Property, plant and equipment and Intangible Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property, plant and equipment | 36262 | 20945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets - excluding R&D (salaries capitalized) | 9431 | 7978 |
|  **Total Investments in Property, plant and equipment and Intangible Assets** | **45693** | **28923** |
|  Total Loans and borrowings long term | 44359 | 17577 |

---

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**Wallbox Forward Looking Statements** 

This press release 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") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox's future operating results and financial position, business strategy and plans, market growth and objectives for future operations. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," ""target," will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox's history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox's ability to successfully manage its growth; the accuracy of Wallbox's forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox's supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox's reliance on the third-parties outside of its control; risks related to Wallbox's technology, intellectual property and infrastructure; as well as the other important factors discussed under the caption "Risk Factors'' in Wallbox's Post-Effective Amendment No. 3 to Wallbox's Registration Statement on Form F-1 (File No. 333-260652) filed on September 28, 2022 and Wallbox's Registration Statement on Form F-3 (File No. 333-268792) filed on December 14, 2022, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investors Relations section of Wallbox's website at investors.wallbox.com. Any such forward-looking statements represent management's estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

**Non-IFRS Financial Measures** 

Wallbox reports its financial information required in accordance with IFRS. This release includes financial measures not based on IFRS, including Adjusted EBITDA (the "Non-IFRS Measures").

------

Wallbox defines Adjusted EBITDA as net income (loss) before depreciation and amortization, provision (benefit) for income taxes and interest expense adjusted to take account of the impact of certain non-cash and other items that we do not consider in our evaluation of our ongoing operating performance. These non-cash and other items include, but not are limited to: change in fair value of convertible bonds and derivative warrants, share listing expenses, foreign exchange gains/(losses), share based payment expenses, costs relating to the business combination, other items outside the scope of our ordinary activities and share of profit of equity-accounted investees. Management uses these Non-IFRS Measures as measurements of operating performance because they assist management in comparing the Company's operating performance on a consistent basis, as they remove the impact of items not directly resulting from the Company's core operations; for planning purposes, including the preparation of management's internal annual operating budget and financial projections; to evaluate the performance and effectiveness of our strategic initiatives; and to evaluate the Company's capacity to fund capital expenditures and expand its business.

The Non-IFRS Measures may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner. We present the Non-IFRS Measures because we consider them to be important supplemental measures of our performance, and we believe they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies. Management believes that investors' understanding of our performance is enhanced by including the Non-IFRS Measures as a reasonable basis for comparing our ongoing results of operations. By providing the Non-IFRS Measures, together with reconciliations to IFRS, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.

Items excluded from the Non-IFRS Measures are significant components in understanding and assessing financial performance. The Non-IFRS Measures have limitations as analytical tools and should not be considered in isolation, or as an alternative to, or a substitute for loss for the year, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. Some of the limitations are: such measures do not reflect revenue related to fulfillment, which is necessary to the operation of our business; such measures do not reflect our expenditures, or future requirements for capital expenditures or contractual commitments; such measures do not reflect changes in our working capital needs; such measures do not reflect our share based payments, income tax benefit/(expense) or the amounts necessary to pay our taxes; although depreciation and amortization are not included in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; and other companies may calculate such measures differently than we do, limiting their usefulness as comparative measures.

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Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to us to invest in the growth of our business and are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. In addition, the Non-IFRS Measures we use may differ from the non-IFRS financial measures used by other companies and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. Furthermore, not all companies or analysts may calculate similarly titled measures in the same manner. We compensate for these limitations by relying primarily on our IFRS results and using the Non-IFRS Measures only as supplemental measures.

A reconciliation of the Company's Adjusted EBITDA guidance to the most directly comparable IFRS financial measure cannot be provided without unreasonable efforts and is not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that are made for future changes in the fair value of cash-settled share-based payment liabilities; foreign exchange gains/(losses) and the other adjustments reflected in our reconciliation of historical non-IFRS financial measures, the amounts of which, could be material.

**About Wallbox** 

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 113 countries around the world. Founded in 2015 and headquartered in Barcelona, the company now employs more than 1,250 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.

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| | |
|:---|:---|
| <u>Wallbox Public Relations Contact:</u> | <u>Wallbox Investor Contact:</u> |
| Elyce Behrsin | Matt Tractenberg |
| Public Relations | VP, Investor Relations |
| <u>Press@wallbox.com</u> | Matt.Tractenberg@wallbox.com |
| +34 622 513 358 | +1 404-574-1504 |

---

Source: Wallbox NV

## Exhibit 99.2

![](g441778ex99_2p1g1.jpg)

M A R 2023 M A R 8 2 0 2 2 Exhibit 99.2 Earnings Report

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![](g441778ex99_2p2g1.jpg)

Enric Asunción Jordi Lainz Matt Tractenberg Co-Founder & Chief Chief Financial Officer VP, Investor Relations Executive Officer Q4 & FY 2O22 EARNINGS REPORT 2

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![](g441778ex99_2p3g1.jpg)

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 of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this presentation other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox's future operating results and financial position, business strategy and plans, market growth and objectives for future operations. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," ""target," will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox's history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox's ability to successfully manage its growth; the accuracy of Wallbox's forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox's supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox's reliance on the third-parties outside of its control; risks related to Wallbox's technology, intellectual property and infrastructure; as well as the other important factors discussed under the caption "Risk Factors" in Wallbox's Post- Effective Amendment No. 3 to Wallbox's Registration Statement on Form F-1 (File No. 333-260652) filed on September 28, 2022 and Wallbox's Registration Statement on Form F-3 (File No. 333-268792) filed on December 14, 2022, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investors Relations section of Wallbox's website at investors.wallbox.com. Any such forward-looking statements represent management's estimates as of the date of this presentation. Any forward-looking statement that Wallbox makes in this presentation speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. This presentation includes certain financial measures not presented in accordance with International Financial Reporting Standards ("IFRS"). These financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to financial measures reported under IFRS. Reconciliations of these historical non-IFRS measures to the most directly comparable IFRS measures are provided in the Appendix. A reconciliation of the Company's Adjusted EBITDA and [free cash flow] to the most directly comparable IFRS financial measure cannot be provided without unreasonable efforts and is not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that are made for future changes in the fair value of cash-settled share-based payment liabilities; foreign exchange gains/(losses) and the other adjustments reflected in our reconciliation of historical non-IFRS financial measures, the amounts of which, could be material. 3

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![](g441778ex99_2p4g1.jpg)

E A R N I N G S R E P O R T What We'll Cover Today 2022 Review Q4 Recap Cost Reduction Program Financial Review 2023 Market Outlook Q&A

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![](g441778ex99_2p5g1.jpg)

2O22 At a Glance New Barcelona 21 factory New Countries allowing us to ship our new DC public charger, Supernova Nissan Polaris Fisker Uber New United States Lyft factory to provide products for the North American market City Electric + Ramping Up Svea Solar & Ikea Napa Auto Supply. ARES Electronics Leading PCB supplier ENI, EDF, BeCharge, COIL Atlante, and Iberdrola North American installer As of 9/30/22 5 A C Q UI R E D

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F UL L Y E A R F I N A N C I A L H I G H L I G H TS 1 FULL YEAR REVENUE OF 2O22 GROSS MARGIN OF €147M 4O.5% DESPITE NEW PRODUCTS WITH DRASTICALLY DIFFERENT FINANCIAL 1OO% GROWTH PROFILES, CUSTOMERS, AND OVER 2O21 MARKET DRIVERS 1. Gross margin is defined as revenue less changes in inventory, raw materials and other consumables used, divided by revenue. 6

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Q 4 F I N A N C I A L H I G H L I G H TS Q4 REVENUE OF Q4 GROSS MARGIN OF €37.3M 35.7% GREW BY 44% ON A YOY BASIS SUPERNOVA EXPECTING COST ENGINEERING + + + CONTINUED SUPERNOVA PROGRAMS PROGRESS, TO RAMP UP GEN 2 IMPROVED CAN ALLOW FOR MARGIN PROFILE IMPROVED MARGINS 7 7

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Q 4 F I N A N C I A L H I G H L I G H TS 1 Revenue Growth + + + + + + 133% 425% 7OO% 185% 117% 76% FRANCE ITALY ISRAEL SPAIN BELGIUM N.A. +104% AsiaPac & 360% LATAM (both of which are early in EV transition) 1. Q4 '22 over Q4 '21 8

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Q 4 F I N A N C I A L H I G H L I G H TS 1 Geographic Mix – Revenue 66% EUROPE 25% 6% U.S. APAC 3% LATAM 1. As a percentage of total Q4 2022 Revenue 9

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Q 4 F I N A N C I A L H I G H L I G H TS 1 Portfolio Breakout 15% SOFTWARE & SERVICES 72% HOME CHARGING 13% FAST CHARGING 1. As a percentage of total Q4 2022 Revenue 10

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Q 4 H I G H L I G H TS Units Breakout 1 UNITS SOLD AC UNITS QUASAR DC UNITS IMPACTED BY EV DOUBLED ALMOST TRIPLED DELIVERY RATES 1. Q4 2022 11

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National Electric Vehicle Infrastructure Standards and Requirements Names Wallbox as one of the few who has made the necessary investments to help drive this initiative. More than 3OO units on order, potentially representing more than $3O million dollars. 12 12

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National Electric Vehicle Infrastructure Standards and Production Requirements Ramping Names Wallbox as one of Up the few who has made the Up to 2O,OOO necessary investments to units of both help drive this initiative. Supernova and More than 3OO units on Hypernova order, potentially combined. representing more than Pipeline currently $3O million dollars. exceeds several thousand units and continues to grow. 13

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National Douglas Electric Vehicle Alfaro as Infrastructure Chief Business Standards and Officer Production Requirements Ramping As General Manager of our North American Names Wallbox as one of Up business, grew NA to the few who has made the our largest geography. Up to 2O,OOO necessary investments to units of both help drive this initiative. Now directing Supernova and growth globally. More than 3OO units on Hypernova order, potentially combined. representing more than Pipeline currently $3O million dollars. exceeds several thousand units and continues to grow. 14

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National Douglas Commercial Electric Vehicle Alfaro as wins and Infrastructure Chief Business partnerships Standards and Officer Production Requirements BYD: arguably the world's Ramping As General Manager largest EV manufacturer of our North American Names Wallbox as one of Up business, grew NA to Sam's Club: will soon carry the few who has made the our largest geography. Up to 2O,OOO Pulsar Plus in 5O stores necessary investments to units of both across the US help drive this initiative. Now directing Supernova and growth globally. More than 3OO units on Hypernova order, potentially combined. representing more than Pipeline currently $3O million dollars. exceeds several thousand units and continues to grow. 15

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Bidirectional CCS charging requires acceptance and approval from the OEMs Acceptance by one often leads to others. Looking to build momentum. 16

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A large transportation + Bidirectional and logistics provider, CCS charging Chargers, SIRIUS, our commercial requires energy management application, acceptance and services in Europe. and approval from the OEMs A major OEM brand + Has selected Wallbox as their preferred provider of hardware as they expand their EV offerings. Acceptance by one often leads The conversations to others. we're having and Looking to build opportunities we've won momentum. give us confidence in our strategy 17

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F I N A N C I A L R E V I E W Cost Reduction Program Expect reduction of A focus on Areas impacted approximately €50 preservation of by cost reductions million in Opex and cash, profitability, predominantly have Employee Benefits and exceeding longer term horizons, market growth adjusted EBITDA % Intent to drive profitability through the business 1 margins mid-term 1O almost a year earlier than originally planned. We anticipate break-even adjusted EBITDA in adjusted EBITDA the fourth quarter of this year, and positive % 1 margins long-term 2O adjusted EBITDA on a full year basis in 2024. 1. Target margins 18

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F I N A N C I A L R E V I E W 1 Regional Mix Diversification 25% NA, 66% EMEA, Overview 6% APAC, 3% LATAM Gross Margins Resilient 2 in the face of continued component shortages 3 Q4 Adjusted EBITDA Loss of €29.1M Driven by lower revenue and gross margins, and higher headcount costs 4 Yearly Adjusted EBITDA Loss of €88.3M With a plan to reduce this by more than half in 2O23 Jordi Lainz Chief Financial Officer 19

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F I N A N C I A L R E V I E W 1 Cash $43M €16M €15M 2 sale of ordinary shares Loan proceeds working capital expansion ~ ~€9OM €9OM & €44M cash and equivalents available long-term debt 1. As of December 31 2022 \|2. Gross Proceeds 20

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F I N A N C I A L R E V I E W CapEx Q4 FULL YEAR 2022 2023 FORECAST €7M €36M €26M of PP&E. of PP&E. of PP&E. 21

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+ Customer preferences + More accessible public charging infrastructure + More affordable vehicles + Government subsidies + Sunsetting ICE vehicles + New EV capacity coming online. + Exciting partnerships + New product introductions + New customer verticals + New geographies + A focus on cash conservation and profitability 22

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S UM M A R Y & L O O K I N G F O R WA R D 2O23 Outlook Q1 F UL L Y R €35 to €24O to R E VE N UE R E VE N UE F O R E C A S T F O R E C A S T 4OM 29OM Y O Y F UL L Y R Q 1 Y O Y G R O WT H 1 G R O WT H 33% 1 8O% F O R E C A S T F UL L Y R G R O S S S E Q UE N T I A L Q 1 M A R G I N G R O S S M A R G I N Flat 38% F O R E C A S T 1 23 At midpoint of range

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M A R C H 2 O 2 3 Q4 & FY Earnings Report

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FINANCIAL OVERVIEW 1 Consolidated Statement of Profit or Loss – EUR Y E A R E N DED Q U A R T E R E N D E D Unaudited, in € 000's 3 1 D E C E M B E R 3 1 D E C E M B E R 2022 2021 Q4 2022 Revenue 71,579 146,971 37,305 Change in inventories and raw materials and (44,253) (87,485) (24,002) consumables used Employee benefits (29,666) (87,590) (22,472) Other operating expenses (91,555) (43,405) (26,741) Amortization and depreciation (18,890) (8,483) (6,833) Net other income 1,844 656 (606) Operating Loss (136,705) (53,572) (43,349) One off expenses - 8,046 - Employee Stock Option Plan 2,455 31,401 6,826 Amortization and depreciation 18,890 8,483 6,833 Other income & expense (656) (1,844) 606 Adjusted EBITDA (88,258) (35,245) (29,084) 1. See slide 29 for definitions

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FINANCIAL OVERVIEW Cash & Cash Equivalents Y E A R E N DED Unaudited, in € 000's 3 1 D E C E M B E R 2022 2021 83,308 113,865 Cash and cash equivalents Financial Investments (1) 5,158 56,982 Cash, cash equivalents and Financial Investments at 31 December 88,466 170,847 1. Financial Investments are included in Other Current Financial Assets

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FINANCIAL OVERVIEW Investments and Long-term Borrowings Y E A R E N DED Unaudited, in € 000's 3 1 D E C E M B E R 2022 2021 Investments in Property, plant and equipment and Intangible Assets 36,262 20,945 Property, plant and equipment Intangible assets - excluding R&D (salaries capitalized) 9,431 7,978 Total Investments in Property, plant and equipment and Intangible Assets 45,693 28,923 Total Loans and Long-term Borrowings 44,359 17,577

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Definitions and Disclosures 1 "Adjusted EBITDA" is defined as loss for the year before depreciation and amortization, income tax credits, and financial income and interest expense further adjusted to take account of the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These non-cash and other items include, but not are limited to; change in fair value of convertible bonds and derivative warrants, share listing expenses, foreign exchange gains and losses, share based payments expense and other one-off expenses/income related to special operations. Operating loss consists of Wallbox's revenue and other income less changes in inventories and raw materials and 2 consumables used, employee benefits, other operating expenses and amortization and depreciation. 3 Wallbox's revenue consists of retail sales of charging solutions for EVs, which includes electronic chargers and other services. 4 Gross Margin is defined as revenue less changes in inventory, raw materials and other consumables used. 5 Other operating expenses primarily consist of professional services, marketing expenses, external temporary workers expense, delivery expense, insurance premiums and other expenses, including leases of machinery with lease terms of 12 months or less and leases of office equipment with low value, including IT equipment. D E F I N I T I O N S