Sunday, December 10

The Catalan unicorn of car chargers shoots up revenue by 263% but loses 47 million

Wallbox, the first Spanish technology company to be listed on the New York Stock Exchange, closed 2021 by shooting up its revenues to 86.5 million dollars (78.8 million euros), an increase of 263%, despite closing the year with losses operations of 57.2 million dollars (47.6 million euros), 421% more. The gross operating result (Ebitda) of the Spanish company was negative for an amount of 55 million dollars (50.2 million euros), compared to the 16.2 million dollars (14.85 million euros) negative of 2020.

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As reported by the company in a statement, last year it marketed up to 129,000 chargers in “close to 100 countries” and its workforce grew by 464 employees, reaching a total of almost 900 professionals. Most of them at its headquarters in Barcelona and in the factories it has in Catalonia. The company has announced that it will open a new factory in Texas (USA) that will join the activity in China through the state-owned company Honqi.

The CEO of the firm, Enric Asunción, has assured that 2021 “was a key year” in which the company has debuted on the stock market, has launched new products, has signed strategic commercial agreements and has accelerated its international expansion. Asunción founded the company together with her fellow UPC faculty member Eduard Castañeda in 2015 and has already achieved unicorn status, as companies with a valuation of more than 1,000 million euros are called.

The manager has indicated that the company’s results have exceeded expectations and has highlighted the increase in gross margin to 36.7%. In addition, he pointed out that the firm faces 2022 with a “strong competitive position” and that it will continue to open new markets and commercial channels. In this sense, for the first quarter of 2022 it plans to increase its income to between 26 and 28 million dollars (23.7 and 25.5 million euros). In the current year as a whole, it expects to reach between 175 and 205 million dollars (159.5 and 186.9 million euros) in turnover, which would represent an increase of between 145% and 190%.

By 2025, it expects to achieve sales of €1 billion and achieve positive cash and gross profit margins.