Software and Services Growth
Software, services, and others were the best performing business activities compared to the same period last year, growing 27% year-over-year, generating EUR 7.6 million or 20% of the total revenue.
Improved Operational Efficiency
Labor costs and operating expenses are down 3% compared to last quarter and declined 25% compared to the same period last year. Cash costs declined 35% year-over-year.
Partnership Expansion
Wallbox announced the expansion of its partnership with Ensol, extending into DC fast charging for the first time. It also launched virtual power plants in California and New York through a partnership with Leap.
European Market Recovery
The European EV market showed a 30% growth year-over-year for the second quarter, with improvements seen in certain countries, providing growth opportunities.
Inventory Reduction
Inventory landed at EUR 56.6 million, reflecting a 33% decrease year-over-year and an 11% reduction compared to last quarter.