Wallbox NV (WBX) 2022 Q1 法說會逐字稿

Hello, everyone, and welcome to Wallbox's first-quarter 2022 earnings conference call and webcast. My name is Charlie and I'll be the operator for today's call. (Operator Instructions). I'd now like to turn the call over to Matt Tractenberg, Wallbox's Vice President of Investor Relations. Matt, please go ahead.

大家好，歡迎參加 Wallbox 2022 年第一季財報電話會議和網路廣播。我叫查理，我將擔任今天電話的接線生。 （操作員說明）。我現在想將電話轉給 Wallbox 投資者關係副總裁 Matt Tractenberg。馬特，請繼續。

Thank you, Charlie, and good morning and good afternoon to everyone listening in today. Thank you for joining us on today's conference call to discuss Wallbox's first-quarter 2022 results. This call is being broadcast over the web and can be accessed from the Investors section of our website at investors.wallbox.com.

謝謝你，查理，今天收聽的每個人早上好，下午好。感謝您參加今天的電話會議，討論 Wallbox 2022 年第一季的業績。本次電話會議正在透過網路進行廣播，您可以透過我們網站的投資者部分進行存取：investors.wallbox.com。

I'm joined today by Enric Asunción, Wallbox's CEO, and Jordi Lainz, our CFO. Earlier today we issued our press release announcing results from the first-quarter 2022 period ended March 31, 2022, which can also be found on our website.

今天，Wallbox 執行長 Enric Asunción 和我們的財務長 Jordi Lainz 也加入了我的行列。今天早些時候，我們發布了新聞稿，公佈了截至 2022 年 3 月 31 日的 2022 年第一季業績，您也可以在我們的網站上找到該業績。

Before we begin I would like to remind everyone that certain statements made on today's call are forward-looking, that may be subject to risks and uncertainties relating to future events and/or the future financial performance of the company. Actual results could differ materially from those anticipated.

在我們開始之前，我想提醒大家，今天的電話會議中所做的某些陳述是前瞻性的，可能會受到與未來事件和/或公司未來財務表現相關的風險和不確定性的影響。實際結果可能與預期有重大差異。

The risk factors that may affect results are detailed in the company's most recent public filings with the US Securities and Exchange Commission, including its annual report on Form 20-F for the year ended December 31, 2021, which can be found on our investors.wallbox.com and on the SEC website at www.SEC.gov. For a more detailed description of certain factors that could cause actual results to differ, please refer to that 20-F and our earnings release issued today.

可能影響業績的風險因素詳見該公司最近向美國證券交易委員會提交的公開文件，包括截至 2021 年 12 月 31 日的 20-F 表格年度報告，我們的投資者可以找到該報告。 SEC 網站www.SEC.gov。有關可能導致實際結果不同的某些因素的更詳細說明，請參閱 20-F 和我們今天發布的收益報告。

Please also note that we will be presenting unaudited financial statements in IFRS format that reflect management's best assessment of actual results. There is a reconciliation of adjusted to non-adjusted measures in the presentation as well. Also, a copy of these prepared remarks can be obtained from the Investor Relations website under the Quarterly Results section so you can more easily follow along with us today.

另請注意，我們將以 IFRS 格式提交未經審計的財務報表，反映管理層對實際結果的最佳評估。簡報中也對調整後的措施與未調整的措施進行了調節。此外，您還可以從投資者關係網站的季度業績部分獲取這些準備好的評論的副本，以便您今天可以更輕鬆地關注我們。

And finally, I want to point out that all results today are presented in euro. This includes both quarterly figures as well as guidance. So, with all that out of the way I'll turn it over to Enric.

最後，我想指出，今天的所有結果均以歐元顯示。這包括季度數據和指導。所以，既然這些事情都解決了，我就把它交給 Enric。

Thank you, Matt, and thanks, everyone, for joining us today. In addition to reviewing highlights from the first quarter of 2022, I will also share some updates on key strategic initiatives, provide you with a view of the market and offer some additional thoughts on Wallbox's key focus areas in 2022. I will then turn the call over to Jordi who will provide a more detailed review of our financial results before returning to communicate our guidance for the second quarter of 2022. We will end by taking questions from our covering research analysts.

謝謝你，馬特，也謝謝大家今天加入我們。除了回顧2022 年第一季的亮點之外，我還將分享一些關鍵策略舉措的最新動態，為您提供市場看法，並就Wallbox 2022 年的重點關注領域提供一些額外的想法。電話交給 Jordi，他將對我們的財務表現進行更詳細的審查，然後再回傳傳達我們對 2022 年第二季的指導。

Despite a complicated geopolitical backdrop and continued global supply chain disruptions, Wallbox continues to perform exceptionally well and exceeded expectations in the first quarter of 2022. I'm proud to share our record results which highlight our continued commitment to executing our business plan. I want to thank our team for their hard work in helping to deliver on our commitments to investors, partners and customers.

儘管地緣政治背景複雜且全球供應鏈持續中斷，Wallbox 的表現仍然異常出色，並在2022 年第一季度超出了預期。持續承諾。我要感謝我們的團隊為幫助履行我們對投資者、合作夥伴和客戶的承諾所做的辛勤工作。

We've been busy this year. At CES in January, we introduced Quasar 2, our newest bi-directional DC charger specifically intended for the US and European markets and compliant with CCS standards, and also expanded into Canada. We announced strategic partnerships in the US like Napa Auto Parts, City Electric, and Polaris and expanded existing partnerships with Uber in February and March. We celebrated the opening of our new Barcelona factory in April, and continue to make progress on the Arlington facility today.

這一年我們很忙。在 1 月的 CES 上，我們推出了 Quasar 2，這是我們最新的雙向直流充電器，專門針對美國和歐洲市場，符合 CCS 標準，並且還擴展到加拿大。我們在 2 月和 3 月宣布了在美國的 Napa Auto Parts、City Electric 和 Polaris 等戰略合作夥伴關係，並擴大了與 Uber 的現有合作夥伴關係。我們於四月慶祝了巴塞隆納新工廠的開業，今天阿靈頓工廠的建設繼續取得進展。

Just last week, we announced our commitment to achieve net zero emissions of greenhouse gases by 2030, and released our first sustainability report. We are fortunate to have sustainability embedded into the DNA of what we do, but it doesn't end there. We strive not only to be technology leaders, but also in creating best-in-class ESG practices. We are proud to have already measured our Scope I and Scope II carbon emissions as a new public company and are determined to leverage our global platform to make an international impact.

就在上週，我們宣布承諾在 2030 年實現溫室氣體淨零排放，並發布了第一份永續發展報告。我們很幸運能夠將永續發展融入我們所做工作的 DNA 中，但這並不止於此。我們不僅致力於成為技術領導者，而且致力於創造一流的 ESG 實踐。作為一家新上市公司，我們很自豪地測量了第一類和第二類碳排放量，並決心利用我們的全球平台產生國際影響。

Looking to the financial results, first-quarter revenue of EUR28.3 million was up 192% year-over-year. The outstanding performance was fueled by broad strength across much of Europe, with notable growth in the UK of approximately 200%, France of 280% and the Netherlands of more than 330%, all on a year-over-year basis.

從財務表現來看，第一季營收為 2,830 萬歐元，較去年同期成長 192%。歐洲大部分地區的廣泛實力推動了這一出色的業績，其中英國同比增長約 200%，法國增長 280%，荷蘭增長超過 330%。

North America continues to perform very well too, growing 10 times versus the prior year period, already representing approximately 9% of our global sales. In LATAM, Brazil is now driving solid results, generating more revenue in the first quarter of 2022, than all of 2021.

北美地區也持續表現出色，比去年同期成長了 10 倍，已占我們全球銷售額的約 9%。在拉丁美洲地區，巴西目前正在取得穩健的業績，2022 年第一季的營收超過 2021 年全年。

Consolidated gross margin in the quarter was 41.4%, driven by improved cost control on key components, even in the face of global shortages. Component costs today are difficult to forecast because prices and availability often vary month to month, but I'm very pleased with the current quarter's performance and believe it highlights our ability to navigate the uncertainty very well. Jordi will share more color in a few minutes on this subject.

即使在全球短缺的情況下，由於關鍵零件的成本控制得到改善，該季度的綜合毛利率為 41.4%。今天的組件成本很難預測，因為價格和可用性通常每月都有所不同，但我對當前季度的表現非常滿意，並相信它凸顯了我們很好地應對不確定性的能力。喬迪將在幾分鐘內就這個主題分享更多的色彩。

And finally, we sold more than 51,000 chargers in the quarter, with 84% in Europe, 10% in the U.S., 5% in APAC, and 1% in LATAM. Notable share gains continue to occur in Southern Europe, Sweden, and the U.S. with new markets like Australia, New Zealand and Lithuania ramping up nicely.

最後，我們在本季度售出了超過 51,000 個充電器，其中 84% 在歐洲，10% 在美國，5% 在亞太地區，1% 在拉丁美洲。南歐、瑞典和美國的份額持續顯著成長，澳洲、紐西蘭和立陶宛等新市場也出現了良好的成長。

EV demand is stronger than anyone imagined, and governmental support, technological advancements, and consumer preferences are all combining to drive unprecedented change in the automotive and energy management space. As you can see, the first quarter of 2022 showed no signs of slowing down, for either the EV market or for Wallbox.

電動車的需求比任何人想像的都要強勁，政府的支持、技術的進步和消費者的偏好共同推動了汽車和能源管理領域前所未有的變革。正如您所看到的，無論是電動車市場還是 Wallbox，2022 年第一季都沒有放緩的跡象。

In the first half of 2021, more than 1 million EVs were sold in Europe, making up 17% of all car sales on the continent, up from 11% in 2020 and 3.4% in 2019. According to Bloomberg New Energy Finance, more than 200 million EVs are expected to drive the European roads in 2040, consuming a combined 456 terawatt hours of energy.

2021 年上半年，歐洲銷售了超過 100 萬輛電動車，佔歐洲大陸汽車銷量的 17%，高於 2020 年的 11% 和 2019 年的 3.4%。歐洲道路上將有2 億輛電動車，總共消耗456 太瓦時的能源。

EV sales in Europe are expected to total more than 3 million in 2022, 33% higher than in 2021 and just under 1.4 million by the end of 2022 in the US, more than double the figure from 2021. This sea change of our industry occurs once in a generation, and it's incredibly exciting to not only see it happen, but be a driving force behind it.

預計 2022 年歐洲電動車銷量將超過 300 萬輛，比 2021 年增長 33%，到 2022 年底美國電動車銷量將接近 140 萬輛，是 2021 年數字的兩倍多。只有一次，不僅看到它的發生，而且成為背後的驅動力，真是令人難以置信的興奮。

While charging those vehicles is key today, energy management is equally core to our long-term strategy at Wallbox. Our goal is to be at the center of the most important architecture consumers will manage in the future. An EV, when paired with renewable energy sources, controlled by smart hardware and software, will be critical to ensure we are prepared for a future where energy is less available and more expensive.

雖然為這些車輛充電是當今的關鍵，但能源管理同樣是 Wallbox 長期策略的核心。我們的目標是成為消費者未來管理的最重要架構的中心。電動車與由智慧硬體和軟體控制的可再生能源相結合，對於確保我們為能源更少且更昂貴的未來做好準備至關重要。

Driving this vision is our belief that green energy is not being generated as quickly as is needed, and that energy from all sources will not meet the demand at peak load times. This presents some challenges to consumers, utilities, businesses and public services in the coming 10 to 20 years.

推動這個願景的動力是我們的信念：綠色能源的產生速度沒有達到所需的速度，所有來源的能源都無法滿足高峰負載時間的需求。這給未來 10 到 20 年的消費者、公用事業、企業和公共服務帶來了一些挑戰。

It will require that we, collectively, accelerate the adoption of alternative sources of energy, including solar and wind, and think more holistically about when and how that energy is stored and distributed. It will require that we use battery storage, leverage the batteries in our EVs to power our homes, and share excess power back to the grid rather than lose it altogether.

這需要我們共同加速採用太陽能和風能等替代能源，並更全面地思考何時以及如何儲存和分配能源。它將要求我們使用電池存儲，利用電動車中的電池為我們的家庭供電，並將多餘的電力分享回電網，而不是完全失去它。

The amount of energy storage capacity in the global electric vehicle fleet today is about 482 gigawatt hours or 13 times that of installed stationary battery storage, according to Bloomberg New Energy Finance. Grid operators are aggressively looking for ways to incentivize and shift charging to off-peak hours.

根據彭博新能源財經報道，目前全球電動車車隊的儲能容量約為 482 吉瓦時，是已安裝固定電池儲存容量的 13 倍。電網營運商正在積極尋找激勵措施並將充電轉移到非高峰時段的方法。

Tariffs applied to EV owners can drastically increase costs. However, effective use of energy management software can reduce expenses by analyzing the cost per kilowatt and grid loads, shifting to renewables, and even offering a revenue source as energy is sent back to the grid from home and fleet sources.

對電動車車主徵收關稅可能會大幅增加成本。然而，有效使用能源管理軟體可以透過分析每千瓦成本和電網負載、轉向再生能源，甚至在能源從家庭和車隊來源送回電網時提供收入來源來減少開支。

We are able to provide this solution today, and it is expected to become increasingly important to our strategy going forward. The complex issue is one that is not going to solve itself, but one that we've spent a great deal of time and resources on. You should expect us to talk more about this and what expanded role we intend on playing in this future I've described.

今天我們能夠提供這個解決方案，預計它對我們未來的策略將變得越來越重要。這個複雜的問題不會自行解決，但卻是我們花了大量時間和資源解決的問題。您應該期待我們更多地討論這個問題以及我們打算在我所描述的未來中扮演的角色。

To ensure we are prepared for that future, we need to build the team today, and that's exactly what we have been doing. Becoming a public company has enabled more than just the raising of capital. It has given us tools and visibility to attract world-class talent and accelerated global brand awareness, something that would have otherwise taken much longer to achieve.

為了確保我們為未來做好準備，我們今天需要建立團隊，而這正是我們一直在做的事情。成為上市公司不僅僅能夠籌集資金。它為我們提供了吸引世界一流人才的工具和知名度，並提高了全球品牌知名度，否則這些目標將需要更長的時間才能實現。

I'm very excited about the talented business leaders we're attracting, and I'm looking forward to the impact I know they will make. Any successful, growing business must invest and expand to ensure they are able to meet the future market demand.

我對我們吸引的才華橫溢的商業領袖感到非常興奮，我期待他們將產生的影響。任何成功、成長的企業都必須投資和擴張，以確保能夠滿足未來的市場需求。

The EV market is a prime example of a hyper growth market. The opportunities are numerous and our strategy is sound, but it must be driven by talented, experienced, and passionate people. At the end of the day, a company is only as good as its people, and Wallboxers are truly amazing.

電動車市場是高速成長市場的典型例子。機會很多，我們的策略也很合理，但它必須由有才華、經驗豐富且充滿熱情的人來推動。歸根結底，一家公司的好壞取決於它的員工，而 Wallboxers 確實令人驚嘆。

In the last two quarters, we've brought on a new CTO, a VP of People and Talent, and Matt to run IR. We've also recently selected a plant director for our Arlington facility, and brought on a new VP of Service and Aftersales. These additions come to us from leading companies like Tesla, Siemens, Autodesk, Schneider, and Cisco.

在過去的兩個季度中，我們任命了一位新的技術長、一位負責人力和人才的副總裁以及負責管理 IR 的 Matt。我們最近也為阿靈頓工廠選出了一位工廠總監，並任命了一位新的服務和售後副總裁。這些新增功能來自 Tesla、Siemens、Autodesk、Schneider 和 Cisco 等領先公司。

The business process and rigor we're deploying across the Company allows us to operate at a much higher level than many of our peers. You can see it in our results. They are driving key initiatives, and I'm excited for you to see what they can do here.

我們在整個公司部署的業務流程和嚴謹性使我們能夠以比許多同行更高的水平運作。您可以在我們的結果中看到它。他們正在推動關鍵舉措，我很高興您能看到他們在這裡能做些什麼。

Aftersales is a great example of a strategic function we are building a team around. The revenue opportunity and customer relationship does not end with the sale of a Wallbox charger. In fact, it's often the beginning. Additional hardware and accessories, services, and support often follows closely and transforms deals from one-off purchases into multi-year contracts with various upselling and cross-selling opportunities.

售後服務是我們正在圍繞其建立團隊的策略職能的一個很好的例子。收入機會和客戶關係並不會隨著 Wallbox 充電器的銷售而結束。事實上，這往往是一個開始。其他硬體和配件、服務和支援通常緊隨其後，並將交易從一次性購買轉變為具有各種追加銷售和交叉銷售機會的多年合約。

Ensuring that we have a strategy, team, and offering ready to provide it all is enormously important and one that will contribute materially to revenue in future periods. We've brought on a very talented business leader to lead the charge here, and I'm sure you will hear more about them on future calls.

確保我們有一個策略、團隊和產品準備好提供這一切是非常重要的，並且將為未來時期的收入做出重大貢獻。我們聘請了一位非常有才華的商業領袖來領導這裡，我相信您會在未來的電話中聽到更多關於他們的資訊。

The last topic I wanted to hit before Jordi takes over is that of our global footprint. Operating in more than 100 countries is challenging, especially as a young company growing at a fast pace. To enable this growth, the combination of engineering, operations, sales and marketing must work in sync. Once a product is certified for a market, we first launch through strategic partners who are on the ground reselling, installing or operating charging infrastructure.

在喬迪接任之前我想談的最後一個主題是我們的全球足跡。在 100 多個國家/地區開展業務充滿挑戰，尤其是作為一家快速發展的年輕公司。為了實現這一成長，工程、營運、銷售和行銷的結合必須同步進行。一旦產品獲得市場認證，我們首先透過策略夥伴推出產品，這些策略合作夥伴在當地轉售、安裝或營運充電基礎設施。

This is critical because they both understand specific local market dynamics and can rapidly scale distribution. We follow a market launch with investments to build brand awareness and accelerate sell-thru at the point of sale.

這一點至關重要，因為他們既了解特定的當地市場動態，又可以快速擴大分銷規模。我們在市場推出後進行投資，以建立品牌知名度並加速銷售點的銷售。

We understand that one of the biggest challenges facing the electrification movement is an educational challenge. If we can train our partners and provide them with the most attractive marketing materials, we convert them into local Wallbox champions for our brand and for our technologies. We have seen compelling results with partners with whom we apply this model, improving both conversion times from lead-to-customer, seen by faster growth than accounts lacking this co-marketing strategy.

我們知道，電氣化運動面臨的最大挑戰之一是教育挑戰。如果我們能夠培訓我們的合作夥伴並為他們提供最具吸引力的行銷資料，我們就能將他們轉變為我們品牌和技術的當地 Wallbox 冠軍。我們與應用此模型的合作夥伴取得了引人注目的成果，改善了從潛在客戶到客戶的轉換時間，與缺乏此聯合行銷策略的客戶相比，成長速度更快。

This global footprint is also enabled through new manufacturing facilities in Arlington and Barcelona. It's enabled by new distribution centers we have in Canada, the US, Sweden, and the UK. Our new centers in Toronto and North Carolina allow us to put inventory closer to the source of demand, which improves delivery times and reduces shipping costs. And it's enabled by an extensive global network of partners, installers, distributors, and OEMs.

這一全球足跡也是透過阿靈頓和巴塞隆納的新製造工廠實現的。它是透過我們在加拿大、美國、瑞典和英國設立的新配送中心實現的。我們在多倫多和北卡羅來納州的新中心使我們能夠將庫存放置在更靠近需求來源的地方，從而縮短交貨時間並降低運輸成本。它是由合作夥伴、安裝商、分銷商和 OEM 組成的廣泛的全球網絡所支持的。

But the global market is really just a collection of local relationships. The local needs, regulations, subsidy requirements, certifications, relationships, and business practices are often what keep local players local, confined to a home country. That will work for a period of time, but eventually, the customer, distributor, installer, or OEM will want to expand the relationship.

但全球市場其實只是本地關係的集合。當地的需求、法規、補貼要求、認證、關係和商業實踐往往是讓當地參與者留在本土、局限於本國的因素。這將在一段時間內發揮作用，但最終，客戶、分銷商、安裝商或 OEM 將希望擴大這種關係。

What then? Find a second vendor? A third? A 10th? The commercial benefit we offer to these customers and partners to expand with them, to localize product where we need to, while having global capabilities is enormously powerful. It's something that is not easily replicated.

然後怎樣呢？尋找第二個供應商？三分之一？第十個？我們為這些客戶和合作夥伴提供的商業利益是與他們一起擴展，在我們需要的地方本地化產品，同時擁有全球能力，這是非常強大的。這是不容易複製的事。

A great example is Uber, with whom we started a pilot project in California to support their ambitious plan to electrify their fleet. A key to working with Uber was not just providing the hardware, but having the capabilities to offer the entire solution -- the hardware, software, installation, financing, marketing, and exceptional customer support. We have since expanded the program through the entire US, selling and installing chargers for Uber drivers all over the country. The program is now expanded to cover Canada as well.

Uber 就是一個很好的例子，我們與他們一起在加州啟動了一個試點項目，以支持他們雄心勃勃的車隊電氣化計劃。與 Uber 合作的關鍵不僅是提供硬件，還有提供整個解決方案的能力——硬體、軟體、安裝、融資、行銷和卓越的客戶支援。此後，我們將該計劃擴展到整個美國，為全國各地的 Uber 司機銷售和安裝充電器。該計劃現已擴展到加拿大。

Iberdrola is another. With operations across Europe, our ability to offer them best-in-class DC fast charging solutions was a game changer. This is why they've recently increased their purchase commitment by 20% to 10,000 units, which will include Hypernova, our 350 kilowatt public charger that will be available next year.

伊莎貝拉是另一個。我們的業務遍及歐洲，為他們提供一流的直流快速充電解決方案的能力改變了遊戲規則。這就是為什麼他們最近將購買承諾增加了 20% 至 10,000 台，其中包括 Hypernova，我們將於明年推出的 350 千瓦公共充電器。

While the benefits of our diversified footprint to operations and partnerships are clear, the benefit to revenue from a global footprint may not be. Individual countries have unique market characteristics, often influenced by subsidies and the amount of EV deliveries. Sometimes, those subsidies begin and end sharply, which can drive variability in revenue country by country and quarter to quarter.

雖然我們多元化的足跡對營運和合作關係的好處是顯而易見的，但全球足跡對收入的好處可能並不明顯。各國都有獨特的市場特徵，通常受到補貼和電動車交付量的影響。有時，這些補貼的開始和結束都會急劇變化，這可能會導致不同國家、不同季度收入的變化。

The fact that we operate in more than 100 countries provides more revenue stability and consistency that would not otherwise occur with a concentrated footprint. Said differently, one country's performance in a period will not whipsaw our consolidated results. This lower volatility should provide comfort to investors seeking high growth with more predictability. Now, over to Jordi to comment on our financial details.

事實上，我們在 100 多個國家/地區開展業務，這提供了更高的收入穩定性和一致性，而這是集中足跡所無法實現的。換句話說，一個國家在一段時間內的表現不會影響我們的綜合績效。這種較低的波動性應該會給尋求高成長和更具可預測性的投資者帶來安慰。現在，請喬迪評論我們的財務細節。

Thank you, Enric. Good morning and good afternoon to everyone. I'd like to thank our analysts and investors for joining us today. Before I review the financials, I'd like to point out that as a foreign private issuer, we are required to produce a full set of audited financial results on an annual basis. These can be found in our recently filed 20-F. Therefore, our intention is to provide you with key unaudited financial and operational measures as we make our way through the year so you can remain informed of our progress.

謝謝你，安瑞克。大家早安，下午好。我要感謝我們的分析師和投資者今天加入我們。在審查財務數據之前，我想指出，作為一家外國私人發行人，我們需要每年提供一整套經審計的財務表現。這些可以在我們最近提交的 20-F 中找到。因此，我們的目的是在這一年中為您提供未經審計的關鍵財務和營運措施，以便您隨時了解我們的進展。

Like Enric, I'm very pleased with our record quarterly results. Our revenues, gross margins, number of units sold, geographic footprint and headcount highlight the scalability of the business model and the strength of the EV market.

和安瑞科一樣，我對我們創紀錄的季度業績感到非常滿意。我們的收入、毛利率、銷量、地理分佈和員工人數凸顯了業務模式的可擴展性和電動車市場的實力。

For the first quarter 2022, revenue was approximately EUR28.3 million, a 192% increase from the year-ago period, driven by strength across all regions and products. Let me share with you some key highlights that allowed us to perform so well in the quarter.

2022 年第一季度，在所有地區和產品實力的推動下，營收約為 2,830 萬歐元，較去年同期成長 192%。讓我與您分享一些使我們在本季度表現出色的關鍵亮點。

First, our regional mix, now with more than 100 countries, continues to improve upon the benefit of geographic diversification, while providing additional regional and global partnership opportunities that Enric listed earlier.

首先，我們的區域組合現在已涵蓋 100 多個國家，繼續改善地理多元化的優勢，同時提供安瑞科先前列出的其他區域和全球合作機會。

Second, new products and services like electromaps, continue to perform very well, growing revenue at more than 160% from the same period last year, and highlighting a clear path of increased recurring revenue.

其次，電子地圖等新產品和服務持續表現出色，營收年增超過160%，凸顯了經常性收入成長的明確路徑。

And as new vehicles come to market that can take full advantage of the unique benefits of our new DC solutions, we expect those products to contribute meaningfully. And finally, the investments in our partner ecosystem are beginning to show promising returns.

隨著能夠充分利用我們新 DC 解決方案獨特優勢的新車上市，我們期望這些產品能夠做出有意義的貢獻。最後，我們對合作夥伴生態系統的投資開始顯示出可觀的回報。

These relationships with installers, distributors, and retailers are key to our efforts of building a strong and profitable system of partners who will help amplify our expansion efforts and build the global Wallbox brand. These committed investments, which represent a fixed percentage of our revenue each period, are put back into the system to improve education and training of these installers, distributors, and retailers, to help them expand and grow their business, and offer marketing support and collateral.

這些與安裝商、經銷商和零售商的關係對於我們建立強大且獲利的合作夥伴體系至關重要，這些合作夥伴將有助於擴大我們的擴張力度並建立全球 Wallbox 品牌。這些承諾投資占我們每個時期收入的固定百分比，將重新投入到系統中，以改善這些安裝人員、分銷商和零售商的教育和培訓，幫助他們擴大和發展業務，並提供行銷支援和抵押品。

Gross margin was 41.4% for the first quarter, a strong performance given the inflation and supply chain issues we are all experiencing. The ability to quickly adapt to variability to component costs and select alternative sources, redesign product, or negotiate preferred vendor status has allowed us to effectively offset the impact of the inflationary environment we are all working through. I'd like to congratulate the manufacturing team on another amazing quarter.

第一季的毛利率為 41.4%，考慮到我們都在經歷的通貨膨脹和供應鏈問題，這一業績表現強勁。快速適應零件成本變化、選擇替代來源、重新設計產品或協商首選供應商地位的能力使我們能夠有效抵消我們正在經歷的通貨膨脹環境的影響。我要祝賀製造團隊又取得了令人驚嘆的季度業績。

Adjusted EBITDA loss for the quarter was EUR15.7 million, which includes the quarterly impact of items such as strategic marketing expenses discussed on our last call. Our balance sheet remains strong, with EUR157 million of cash and equivalents available which we believe is enough for us to execute our strategic plan.

本季調整後 EBITDA 損失為 1570 萬歐元，其中包括我們上次電話會議中討論的策略行銷費用等項目的季度影響。我們的資產負債表仍然強勁，擁有 1.57 億歐元的現金和等價物，我們相信這足以讓我們執行我們的戰略計劃。

We ended the quarter with EUR23.5 million of long-term debt. And during the first quarter, we hired an additional 104 employees, with a mix between all functions. As of March 31, there were almost 1,000 Wallbox employees around the world, almost double the number from one year ago. With that, I will now turn it back to Enric to provide you with some commentary around Q2 and the full year.

截至本季末，我們的長期債務為 2,350 萬歐元。第一季度，我們又聘用了 104 名員工，涵蓋所有職能部門。截至 3 月 31 日，Wallbox 在全球共有近 1,000 名員工，幾乎是一年前的兩倍。現在，我將把它轉回安瑞科，為您提供有關第二季度和全年的一些評論。

Thanks, Jordi. Before we provide some insight on the second quarter and full year 2022, I wanted to share some thoughts on the current state of the market, and what we see as both the risks and the opportunities. There is no doubt about the long-term opportunity of electrification and energy management. It's exceptional, and we're well-positioned.

謝謝，喬迪。在我們對 2022 年第二季和全年提供一些見解之前，我想分享一些關於市場現狀的想法，以及我們認為的風險和機會。毫無疑問，電氣化和能源管理的長期機會。這是非常出色的，而且我們處於有利位置。

In the shorter term, while there is always execution risk, that is not what keeps me up at night. What I am watching closely in the short term is the ability of auto manufacturers to keep pace with demand.

從短期來看，雖然總是存在執行風險，但這並不是讓我徹夜難眠的原因。短期內我密切關注的是汽車製造商跟上需求的能力。

Appetite for EVs is off the charts, fueled in part by high energy prices, consumer preferences, new technology that is accelerating price parity with ICE vehicles, government subsidies, CO2 emission taxes, and lastly, and perhaps most importantly, improving charging infrastructure. I do not believe these factors are going to diminish with time.

人們對電動車的興趣空前高漲，部分原因是高能源價格、消費者偏好、加速與內燃機汽車平價的新技術、政府補貼、二氧化碳排放稅，以及最後也許是最重要的充電基礎設施的改善。我不相信這些因素會隨著時間的流逝而消失。

This week, Volkswagen said that they are sold out of EVs for the rest of 2022, and this is not a function of component shortages. But I'm encouraged by their comments and other manufacturers, most of whom are now aggressively shifting investment and resources to prioritize EV production.

本週，大眾汽車表示，他們在 2022 年剩餘時間內的電動車已售罄，這並不是零件短缺的結果。但他們和其他製造商的評論令我感到鼓舞，其中大多數製造商現在正在積極轉移投資和資源，優先考慮電動車生產。

In the short term, this inserts some uncertainty into the mix, but over a longer period, it's clearly an opportunity. Capacity will catch up and that means that deliveries will occur, and that gives us confidence in our business plan.

從短期來看，這會帶來一些不確定性，但從長遠來看，這顯然是一個機會。產能將會趕上，這意味著交付將會發生，這讓我們對我們的業務計劃充滿信心。

The second market observation I want to share is the shift between the DC fast charging environment. 150 kilowatt chargers are available today, and Supernova is a compelling investment for customers given its reliability and price point. I expect it to perform well in many markets around the world, and I am encouraged by the significant backlog already in place.

我想分享的第二個市場觀察是直流快充環境之間的轉變。 150 千瓦充電器現已上市，鑑於其可靠性和價格點，Supernova 對於客戶而言是一項極具吸引力的投資。我預計它將在全球許多市場表現良好，並且已經有大量積壓訂單令我感到鼓舞。

In the US, many of the subsidies focus on specific technologies that enable much faster charging in public settings. Products like Hypernova, which will begin at 350 kilowatts of power and increase from there, will meet this demand head on. For this reason, you will see us shift North American manufacturing capacity to prioritize Hypernova, accelerating its time to market and capturing market share. I look forward to sharing more product details on customer wins as we make our way through the year.

在美國，許多補貼都集中在能夠在公共場所實現更快充電的特定技術。 Hypernova 等產品的起始功率為 350 千瓦，並在此基礎上不斷增加，將直接滿足此需求。出於這個原因，您將看到我們將北美的製造能力轉移到優先考慮 Hypernova，從而加快其上市時間並佔領市場份額。我期待著在這一年中分享更多有關客戶勝利的產品細節。

I offer you these gives and takes because it's important we share the context around how we arrive at our guidance. Our goal is to provide you with reasonable and achievable targets given the current landscape.

我向您提供這些給予和接受，因為我們分享如何得出指導的背景非常重要。我們的目標是在當前情況下為您提供合理且可實現的目標。

We know that it's important for investors to understand the quarterly pattern of revenue and expenses, so we wanted to provide a bit more detail. As you would expect at a fast growing company like Wallbox, revenue in the second half of the year is much higher than the first half, often more than double. In 2021, approximately 62% of our annual revenue occurred in the second half of the year, and we would expect the second half of 2022 to follow a similar pattern.

我們知道，投資者了解收入和支出的季度模式非常重要，因此我們想提供更多詳細資訊。正如您對 Wallbox 這樣快速發展的公司所期望的那樣，下半年的收入比上半年高得多，通常是兩倍以上。 2021 年，我們約 62% 的年收入發生在下半年，我們預計 2022 年下半年也將遵循類似的模式。

Additionally, we will closely watch how EV deliveries play out this year and if manufacturers can meet the strong demand we see in the market. We will share our thoughts on future calls with you. With that in mind, we expect consolidated revenues in the second quarter of between EUR35 million and EUR38 million or growth of approximately 100% to 115% year-over-year. For the first half of 2022, this results in a year-over-year growth rate between 132% and 143%.

此外，我們將密切關註今年電動車的交付情況，以及製造商是否能夠滿足我們在市場上看到的強勁需求。我們將與您分享我們對未來通話的想法。考慮到這一點，我們預計第二季的合併收入將在 3,500 萬歐元至 3,800 萬歐元之間，年增約 100% 至 115%。 2022 年上半年，年成長率介於 132% 至 143% 之間。

Given the items we've previously mentioned, including new product introductions and continued uncertainty within the supply chain, we expect gross margins of approximately 40% in the second quarter, in line with our full-year expectations.

考慮到我們之前提到的項目，包括新產品的推出和供應鏈內持續的不確定性，我們預計第二季的毛利率約為 40%，與我們的全年預期一致。

And we remain committed to the full-year 2022 target discussed last quarter of revenue between EUR175 million and EUR205 million, representing an annual growth rate of between 145% and 190%. That concludes our prepared remarks today. We will now take questions from our covering analysts.

我們仍致力於實現上季討論的 2022 年全年營收在 1.75 億歐元至 2.05 億歐元之間的目標，即年增長率在 145% 至 190% 之間。我們今天準備好的演講到此結束。我們現在將回答我們的分析師的問題。

Welcome back, everyone. (Operator Instructions) Charlie, I think you had some additional instructions for everyone today.

歡迎回來，大家。 （操作員說明）查理，我想您今天對每個人都有一些附加說明。

(Operator Instructions). Chris Snyder, UBS.

（操作員說明）。克里斯‧史奈德，瑞銀集團。

Thank you. Appreciate the question. I was just hoping for some additional color on the gross margin improvement. Q1 came in almost 500 basis points above Q4, obviously much stronger than we were modeling.

謝謝。感謝這個問題。我只是希望毛利率能有一些額外的改善。第一季比第四季高出近 500 個基點，顯然比我們建模的要強得多。

It sounds like from Jordi's commentary this is primarily driven by an improved cost structure. But can you just talk a bit more about some of the moving parts and what the team has done? And then also why the company's confident it can hold 40% gross margin in Q2 as the cost environment is still quite challenging?

從喬迪的評論來看，這主要是由成本結構改進所推動的。但您能多談談一些活動部分以及團隊所做的事情嗎？那麼，在成本環境仍然充滿挑戰的情況下，為什麼公司有信心在第二季維持40%的毛利率呢？

Thank you, Chris, and thanks for the question -- great question. Basically there are two main things. One is the product mix. When we forecasted Q1 gross margin we had a product mix that was focusing on lower gross margin products. We have been able to sell the most added value products and the smartest products like Commander 2 has increased in product mix and (inaudible) also has increased in the product mix. So, this is one driver.

謝謝你，克里斯，也謝謝你提出這個問題——很好的問題。基本上有兩個主要的事情。一是產品結構。當我們預測第一季毛利率時，我們的產品組合專注於毛利率較低的產品。我們已經能夠銷售最具附加價值的產品，最聰明的產品（例如 Commander 2）的產品組合也有所增加，（聽不清楚）產品組合也有所增加。所以，這是一名司機。

And the second is that our manufacturing team and operations team and purchasing team have been able to navigate very well these last months and last quarter with suppliers. We are more in the top of the allocation (inaudible) we call it. That's when a supplier is deciding who gets a specific electronic component. We are prioritized with them. The main reason why is because we have been able to show them that we are a huge growth vector for them. So, they see us as a huge opportunity.

其次，我們的製造團隊、營運團隊和採購團隊在過去幾個月和上個季度與供應商的合作非常順利。我們更處於我們稱之為分配的頂部（聽不清楚）。這時供應商決定誰要取得特定的電子元件。我們優先考慮他們。主要原因是因為我們已經能夠向他們展示我們是他們巨大的成長載體。因此，他們認為我們是一個巨大的機會。

So, big chip manufacturers are prioritizing us and we are able to go to get (inaudible). And maybe the last one is, as we discussed in the past, we are always planning and working on [achieve] and improve our cost for our products. We have cost-saving programs for all the products we have. We are achieving them at the time we expected, which was at the beginning of this year, just to make sure that gross margin for full 2022 would be around 40%.

因此，大型晶片製造商正在優先考慮我們，我們能夠去獲得（聽不清楚）。也許最後一個是，正如我們過去討論的那樣，我們一直在計劃和努力[實現]並提高我們產品的成本。我們為所有產品製定了成本節約計劃。我們在今年年初的預期時間裡實現了這些目標，只是為了確保 2022 年全年的毛利率在 40% 左右。

Chris the only other thing I would want to add is that, as you close the books there are always provisions and allocations that you go back and allocate to the months and the full quarter. And sometimes that changes the finished number, the final number. In this situation, in this case that was a positive change. And so, while we're happy to provide 41%-plus gross margins, sometimes those adjustments do bring up or sometimes bring the number down as we're sort of finishing the accounting, okay?

克里斯，我想補充的唯一一件事是，當您關閉帳簿時，總是會有一些規定和分配，您可以返回並分配給月份和整個季度。有時這會改變最終的數字。在這種情況下，在這種情況下，這是一個積極的變化。因此，雖然我們很高興提供 41% 以上的毛利率，但有時這些調整確實會提高或有時會降低這個數字，因為我們正在完成會計工作，好嗎？

Appreciate that. Thank you. And then I guess for my second question, when we look at the strong revenue ramp implied throughout the area, both into Q2 but then even more so into the back half. But can you talk about what that implies for the DC fast charging production. I'm assuming that is a tailwind to that inflection we're seeing in the back half.

感謝。謝謝。然後我想對於我的第二個問題，當我們看到整個地區隱含的強勁收入成長時，無論是在第二季度，還是在後半段，情況更是如此。但您能談談這對直流快速充電生產意味著什麼嗎？我認為這是我們在後半段看到的拐點的順風車。

Yes, exactly, you're totally right. So, we have geographical growth as we are seeing in the US. We are growing in the new markets where we are, we're growing our AC charging products. But definitely in the second half of the year and also in Q2, we expect fast charging to be an important part of our revenue and our growth. The really positive side of this is that it's not really dependent on car deliveries.

是的，完全正確，你完全正確。因此，正如我們在美國看到的那樣，我們有地域成長。我們正在新市場中不斷發展，我們正在發展我們的交流充電產品。但毫無疑問，在今年下半年和第二季度，我們預計快速充電將成為我們收入和成長的重要組成部分。真正積極的一面是它並不真正依賴汽車交付。

As I commented during the call, we are looking at car deliveries and we hope that car manufacturers can keep with the growing demand that we all expected. If that happens that will be already positive for the market. But DC charging doesn't depend on that. You install a charger in the street, no matter if there's one car more or 10 more. So, we see this as a more predictable revenue other than additional deliveries of cars that could impact. Originally we did our market, but we don't know in the next quarter what will happen.

正如我在電話會議中所評論的那樣，我們正在考慮汽車交付情況，我們希望汽車製造商能夠滿足我們所有人預期的不斷增長的需求。如果這種情況發生，那對市場來說已經是利好。但直流充電並不依賴於此。你在街上安裝一個充電器，無論多一輛車還是十多輛車。因此，我們認為這是比額外交付可能產生影響的汽車更可預測的收入。本來我們做了我們的市場，但我們不知道下個季度會發生什麼。

Chris, know that every week more and more of our Supernova comes off of the production line. And so, certainly it's a ramp and it's beginning to contribute materially as we make our way through the second half. So, there's some of that there. But as Enric mentioned in the call, the pattern, the revenue pattern as we make our way through the year, is very similar this year to last year. And we didn't have Supernova hitting the streets last year. So, the pattern is similar but certainly the magnitude is different.

克里斯，知道每週都有越來越多的超新星從生產線上下來。因此，這當然是一個斜坡，並且隨著我們進入下半年，它開始做出實質貢獻。所以，那裡有一些。但正如安瑞克在電話中提到的，今年的模式、收入模式與去年非常相似。去年我們並沒有讓 Supernova 出現在街頭。因此，模式是相似的，但幅度肯定是不同的。

I appreciate that. Thank you.

我很感激。謝謝。

Stephen Gengaro, Stifel.

史蒂芬·根加羅，斯蒂菲爾。

Thanks for taking the questions. So, two things for me. One, one of the things that jumped out at me in the quarter was the average price per unit. And I'm just trying to think about the change versus the fourth quarter, how much of that is mix versus if there's any FX in there. And then as we think about the rest of the year and the mix of evolving, what should that look like as 2022 progresses?

感謝您提出問題。所以，對我來說有兩件事。第一，本季讓我震驚的一件事是每單位的平均價格。我只是想考慮一下與第四季度相比的變化，其中有多少是混合因素，以及是否有外匯因素。然後，當我們思考今年剩餘時間以及不斷發展的組合時，隨著 2022 年的進展，情況會是什麼樣子？

Thank you, Stephen. Thank you for the call. So, as I said, the very positive is that the product really improves gross margin. However, as we have new customers or our oldest customers grow in terms of volume per account, that has an impact on the average discount we give to them. So, we are seeing that our customers are growing as the market grows.

謝謝你，史蒂芬。謝謝您的來電。所以，正如我所說，非常積極的是該產品確實提高了毛利率。然而，隨著我們的新客戶或老客戶的每個帳戶數量的增長，這會影響我們給予他們的平均折扣。因此，我們看到我們的客戶隨著市場的成長而成長。

Obviously we adapt, depending on the market, the discount we give to them, but this has a slight impact on price. But what we focus on especially is on making sure that the gross margin stays at the number we want and we have been able to give an increase on our forecast. I don't know that answers the question or --.

顯然，我們根據市場情況調整給予他們的折扣，但這對價格有輕微影響。但我們特別關注的是確保毛利率保持在我們想要的水平，並且我們能夠提高我們的預測。我不知道這能回答問題還是——。

I think so. Stephen, it's important to remember that the product mix within countries, especially as those countries are growing faster than the consolidated number, also play a role in price and mix. So, in some countries where we haven't launched DC fast charging solutions and they're only selling AC, as those countries grow faster it's going to have a downward pressure on price in the short term. But over the longer term the entire product portfolio should be sold on a global basis. So, that should come back into line.

我想是這樣。史蒂芬，重要的是要記住，國家內部的產品組合，特別是當這些國家的成長速度快於綜合數量時，也在價格和組合中發揮作用。因此，在一些我們尚未推出直流快速充電解決方案而只銷售交流電的國家，隨著這些國家的成長速度更快，短期內價格將面臨下行壓力。但從長遠來看，整個產品組合應該在全球範圍內銷售。所以，這應該會回到正軌。

Okay. But when you think -- so the progression there that's sort of baked into your guidance expectations is what?

好的。但是，當您思考時，您的指導預期中的進展是什麼？

I don't think we necessarily look at product mix on a geographic basis and the price per unit on a geographic basis. I think that we talked about global diversification and the broad footprint allows us to have a bit of a more smooth effect to it. But look, selling one Supernova or one Hypernova replaces a lot of Pulsar pluses or Pulsar MAX, our new product.

我認為我們不一定要根據地理區域來考慮產品組合，也不必根據地理區域來考慮單位價格。我認為我們談到了全球多元化，廣泛的足跡使我們能夠對其產生更平穩的影響。但你看，出售一台 Supernova 或一台 Hypernova 就可以取代很多 Pulsar plus 或 Pulsar MAX（我們的新產品）。

And so, as that ramps up you will definitely see a change in a per-unit price. I would say that the product mix is not yet material, but as we enter the end of the year it's probably going to become more and more noticeable.

因此，隨著價格的增加，您肯定會看到單位價格的變化。我想說的是，產品組合還不是實質的，但隨著我們進入年底，它可能會變得越來越引人注目。

Okay, great. Thank you. Then just -- the follow-up I wanted to ask is just a point of clarification and another question. The $157 million in cash, is that a dollar or a euro number? And just the timing on Arlington, is it on track for completion as well?

好的，太好了。謝謝。那麼我想問的後續問題只是一個澄清點和另一個問題。 1.57 億美元現金，是美元還是歐元？就阿靈頓的時間而言，它也有望完成嗎？

Let me -- just one comment. EUR157 million, not dollars, okay? And this is existing cash, existing cash and equivalent in the balance sheet of the company at March 31. In terms of Arlington (multiple speakers) factory, we are continuing with the work. We are paying -- certifications are done in our factory and we continue expecting to [elaborate] in the second half of this year.

讓我——僅發表一則評論。 1.57 億歐元，不是美元，好嗎？這是截至3月31日公司資產負債表中的現有現金、現有現金和等價物。我們正在付款中——認證是在我們的工廠完成的，我們繼續期望在今年下半年[詳細說明]。

Yes, exactly. And we are moving to ways even to accelerate the transition of some of the assembly lines in Arlington. We want to be more resilient in our operations given all the things we commented before. So, luckily we have two assembly lines in Barcelona for our UL product. What we are doing is pretty soon we are going to ship one of the assembly lines in Arlington, so we don't need to wait for the fully [automatized] assembly line that we already in the US produce to start producing in Arlington.

對，就是這樣。我們甚至正在採取措施加速阿靈頓一些裝配線的轉型。鑑於我們之前評論過的所有事情，我們希望在營運中更具彈性。因此，幸運的是，我們在巴塞隆納有兩條 UL 產品組裝線。我們正在做的事情是很快我們將在阿靈頓運送一條裝配線，因此我們不需要等待我們已經在美國生產的完全[自動化]裝配線在阿靈頓開始生產。

So, we are going to push, even accelerate more the assembly lines with all the (inaudible) we have in Barcelona while we wait for the new assembly line. And two, we are also accelerating the supply chain in [naphtha]. So, we have been meeting and are already certifying many suppliers in the US and Mexico.

因此，在等待新裝配線的同時，我們將利用巴塞隆納擁有的所有（聽不清楚）來推動甚至加速裝配線的建設。第二，我們還在加速[石腦油]的供應鏈。因此，我們一直在與美國和墨西哥的許多供應商會面並對其進行認證。

So, we are trying to view a fully resilient, very little dependent on Europe assembly line to [deal] with the growing demand in the US. And also we are already starting to look on Hypernova for the US in terms of manufacturing moving into next year.

因此，我們正在嘗試建立一條完全有彈性、很少依賴歐洲的裝配線來應對美國不斷增長的需求。而且我們已經開始在明年的製造業考慮 Hypernova 在美國的應用。

Ben Kallo, Baird.

本卡洛，貝爾德。

Just wanted to clarify, are you shifting production more towards Supernova in the US? And is it because of demand you see, is my first question?

只是想澄清一下，你們是否會將生產更多地轉向美國的 Supernova？我的第一個問題是因為你看到的需求嗎？

My second question is just on total visibility, just because you have such a strong second half. How do we think about your visibility here?

我的第二個問題是關於整體可見性，只是因為你們下半場表現如此強勁。我們如何看待您在這裡的知名度？

And then my third question -- sorry for that -- it sounds like you're doing more on energy services, or potentially. I don't know if that's true or you were just talking about your customers doing more energy services.

然後是我的第三個問題——對此感到抱歉——聽起來你們在能源服務方面或可能在能源服務方面做得更多。我不知道這是真的還是您只是在談論您的客戶提供更多能源服務。

So, first of all, we are -- what we're seeing today in the US is Pulsar Plus 100%. That's the product (inaudible) in the US. As we discussed in the past, we were planning to launch Supernova at the beginning of next year to start producing in our Arlington facility. What we see is that there's a lot of subsidies coming for higher power charging. Although we are already selling Supernova in Europe and we have (inaudible), we see average short-term advantage of launching Hypernova in the US.

所以，首先，我們今天在美國看到的是 Pulsar Plus 100%。這是美國的產品（聽不清楚）。正如我們過去討論的那樣，我們計劃在明年初推出 Supernova，並在我們的阿靈頓工廠開始生產。我們看到的是，對於更高的充電功率有許多補貼。儘管我們已經在歐洲銷售 Supernova（聽不清楚），但我們看到在美國推出 Hypernova 的平均短期優勢。

So, the good thing about Hypernova versus Supernova is that it's the same software, it's the same tower work. The only thing that changes is that it has more power modules and there's a separated power unit compared with -- there's a separated power unit in Hypernova and a dispenser, whereas Supernova everything is confined in a single charger.

因此，Hypernova 與 Supernova 的優點在於它們是相同的軟體，相同的塔式工作。唯一的變化是它有更多的電源模組，並且有一個獨立的電源單元，而 Hypernova 中有一個獨立的電源單元和一個分配器，而 Supernova 的所有東西都限制在一個充電器中。

But in terms of architected hardware/software, it is exactly the same and use the same protocol. So, it's very easy for us to launch a product. It's more an effort of operations, of industrialization and a little bit of certification, which we are not really worried about certification because, again, it is the same architect and hardware than Supernova.

但就硬體/軟體架構而言，它是完全相同的，並且使用相同的協定。所以，我們推出一個產品是很容易的。這更多的是營運、工業化和一點認證的努力，我們並不真正擔心認證，因為它與 Supernova 是相同的架構師和硬體。

So, what we're saying is that instead of only prioritizing Supernova for our Arlington facility, we are going to make these assembly lines looking also into Hypernova and even try to have Hypernova available for some US customers as soon as possible, because we see a potential upsell with all the high power and big corridors at Arlington. So, we see higher power charging as a good short-term opportunity for the US especially, and that's why in terms of operations we are going to accelerate Hypernova. Maybe the second question for you, Jordi.

因此，我們要說的是，我們的阿靈頓工廠不僅僅優先考慮 Supernova，我們還將讓這些裝配線考慮 Hypernova，甚至嘗試盡快為一些美國客戶提供 Hypernova，因為我們看到阿靈頓所有高功率和大走廊的潛在追加銷售。因此，我們認為更高的充電功率對美國來說是一個很好的短期機會，這就是為什麼在營運方面我們將加速 Hypernova。也許是你的第二個問題，喬迪。

Thank you for joining us today. Well, basically in terms of visibility for this second half of the year, basically, first of all, as Matt mentioned before, (inaudible) our historical pattern where (inaudible) 60%, 65% from our yearly sales (inaudible) in the second half of the year. And this is what we are forecasting.

感謝您今天加入我們。嗯，基本上就今年下半年的可見度而言，基本上，首先，正如馬特之前提到的，（聽不清楚）我們的歷史模式（聽不清楚）60%、65% 來自我們的年銷售額（聽不清楚）下半年。這就是我們的預測。

But also not only that, also we are looking at the industry forecasts. And what we are seeing is that also as Enric mentioned (inaudible) Volkswagen has sold out of their production for the year and seeing that if there are not significant deliveries in cars industry, we are looking at that in order to achieve our goal.

不僅如此，我們還在關注產業預測。我們所看到的是，正如安瑞克所提到的（聽不清楚），大眾汽車今年的產量已經售罄，如果汽車行業沒有大量交付，我們正在考慮這一點，以實現我們的目標。

Not all (inaudible) with customers and partners were we are seeing our forecast for second half. And lastly, also our backlog including Supernova deliveries for the second half. And then as a (inaudible) we are quite confident to achieve this guidance for the full year in terms of revenue.

並非所有（聽不清楚）客戶和合作夥伴都看到了我們對下半年的預測。最後，還有我們的積壓訂單，包括下半年的 Supernova 交付。然後，作為（聽不清楚）我們非常有信心在全年收入方面實現這一目標。

So, maybe to add to what Jordi says and reaffirm, basically we are following the same pattern as last year, but there's maybe an original thing, which is Supernova deliveries and Pulsar MAX, a new product also, that add to additional ramp-up of products and revenues in the second half of 2022.

因此，也許要補充Jordi 所說的內容並重申，基本上我們遵循與去年相同的模式，但可能有一個原創的東西，那就是Supernova 交付和Pulsar MAX（也是一個新產品），這增加了額外的成長2022年下半年的產品和收入。

And going to the third question, I will let you follow up (inaudible) question (inaudible) clarification. Our (inaudible) management, we see that the world is really changing in this regard. All the energy prices are going up especially in Europe but everywhere in the world.

關於第三個問題，我將讓您跟進（聽不清楚）問題（聽不清楚）澄清。我們（聽不清楚）的管理階層，我們看到世界在這方面確實正在改變。所有能源價格都在上漲，尤其是在歐洲，但在世界各地也是如此。

We see that people are starting to think more about not being as dependent on other energy sources and have solar panels at home, or even store their own energy. So, it's becoming more and more and more important -- provides more value to our energy management (inaudible) our chargers.

我們看到人們開始考慮更多不要依賴其他能源，在家中安裝太陽能板，甚至儲存自己的能量。因此，它變得越來越重要——為我們的能源管理（聽不清楚）和充電器提供更多價值。

In this direction Quasar 2 we believe is going to be a game changer because it basically converts a car into a battery and it's going to [take with] solar panels and basically makes you independent, energy speaking. So, what we've seen basically is an acceleration of the consumer preferences into energy management.

在這個方向上，我們相信 Quasar 2 將成為遊戲規則的改變者，因為它基本上將汽車轉變為電池，並將[採用]太陽能電池板，基本上使您在能源方面變得獨立。因此，我們基本上看到的是消費者對能源管理的偏好正在加速成長。

We are seeing also that almost every charger we sell activates some energy management feature. And we're also seeing that some countries like the UK are now passing regulations where they, by law, require energy management features activated in the Chargers by the fall.

我們還發現，我們銷售的幾乎每個充電器都啟動了一些能源管理功能。我們也看到，英國等一些國家現在正在通過法規，要求在秋季之前啟動充電器中的能源管理功能。

So, for example, in the UK starting June 30, it's mandatory -- or actually July 1, it's mandatory that all Chargers have preprogram scale to charge when energy is cheaper at night. And even having random timing of start to make sure the grid is not at a (inaudible) stress. So, people, energy costs and countries are -- governments are pushing for energy margin. So, we are going to focus more and more to add value to our products (inaudible) management.

例如，在英國，從 6 月 30 日開始，這是強制性的——或者實際上從 7 月 1 日起，所有充電器都必須有預編程規模，以便在夜間能源便宜時進行充電。甚至有隨機的啟動時間，以確保電網不會承受（聽不清楚）壓力。因此，人員、能源成本和國家政府都在努力提高能源邊際。因此，我們將越來越關注為我們的產品（聽不清楚）管理增加價值。

Brian Dobson, Chardan Capital Markets.

布萊恩·多布森，查丹資本市場。

Thanks very much for taking the question. So, just quickly about your charging management software solutions. I guess could you speak to the long-term opportunity there for asset light fees and how you ultimately envision that business evolving?

非常感謝您提出問題。那麼，快速了解您的充電管理軟體解決方案。我想您能否談談輕資產收費的長期機會以及您最終如何設想該業務的發展？

Thank you, Brian. I love that question actually. So, we all know that installing chargers in people's homes is a massive opportunity. And we are doing this and today 50,000 more users than last quarter have installed our chargers. And that makes us be the first contact they have with energy management.

謝謝你，布萊恩。我其實很喜歡這個問題。所以，我們都知道在人們家中安裝充電器是一個巨大的機會。我們正在這樣做，今天安裝我們充電器的用戶比上個季度多了 50,000 名。這使我們成為他們與能源管理的第一個接觸者。

A charger, it's perfectly positioned between the home and the car, which are the two main consumptions of energy that anybody has. Actually the car is 50% of the home consumption and the actual home is the other 50%.

作為充電器，它完美地位於家庭和汽車之間，這是任何人的兩種主要能源消耗。實際上汽車佔家庭消費的50%，實際家庭消費佔另外50%。

So, the charger is between these two walls, and we are the ones that can manage both walls. That's step one, making sure that these car chargers when energy is cheaper that adapts to the power [grid] installation or even chargers when energy is clean. And that's the product we are selling today. But because we are adding this value to customers, soon they think, wow, my energy bill or my energy consumption has doubled. I need to install solar panels at home.

因此，充電器位於這兩面牆之間，而我們是能夠管理兩面牆的人。這是第一步，確保這些汽車充電器在能源便宜時適應電力[電網]安裝，甚至在能源清潔時適應充電器。這就是我們今天銷售的產品。但因為我們正在為客戶增加這種價值，很快他們就會想，哇，我的能源帳單或我的能源消耗增加了一倍。我需要在家裡安裝太陽能電池板。

So, when that happens, they make sure they use our products and they can have an inverter that can work with our chargers, with our (inaudible) chargers. Also we make sure we connect with the inverter and we have solar energy and any excess is managed by our platform by Wallbox.

因此，當發生這種情況時，他們確保使用我們的產品，並且他們可以擁有可以與我們的充電器、我們的（聽不清楚）充電器配合使用的逆變器。此外，我們還確保與逆變器連接，並且擁有太陽能，任何多餘的能源都由我們的 Wallbox 平台進行管理。

But then comes the next opportunity, which is vehicle to home, thanks to Quasar and Quasar 2 you can use a single product, you can have bidirectional charging, which converts your car into a massive battery. And that means that you can power your home with your EV battery for up to four days. So, it's stored in a backup generator. You can use it to charge when energy is cheaper and [less] charge when energy is more expensive. And even you can use it as a solar investor.

但接下來的機會來了，那就是車輛到家，感謝 Quasar 和 Quasar 2，你可以使用單一產品，你可以進行雙向充電，將你的汽車變成一個巨大的電池。這意味著您可以使用電動車電池為您的房屋供電長達四天。因此，它儲存在備用發電機中。當能源更便宜時，您可以用它來充電；當能源更貴時，您可以用它來[更少]充電。甚至您也可以將其用作太陽能投資者。

So, that's a hardware play. But from today, every charger we sell is guarding data, it's providing these energy margin functionalities. And we can start offering small fees for activating these functionalities would allow customers to save money that create recurrent revenues for us. Or even we can create additional revenues with vehicle to (inaudible).

所以，這是一個硬體遊戲。但從今天開始，我們銷售的每個充電器都在保護數據，它提供這些能量裕度功能。我們可以開始為啟動這些功能提供小額費用，這將使客戶節省資金，從而為我們創造經常性收入。或者甚至我們可以透過車輛創造額外收入（聽不清楚）。

So, now selling energy of the car that has in the battery, selling it back to the grid. And we actually are doing all these things today. We are partnering with (inaudible) in the UK where we do vehicle to grid, or we do vehicle to home with many of our thousands of customers that use Quasar. And the hundreds of thousands of customers that have Pulsar also use energy management.

因此，現在出售汽車電池中的能量，將其賣回電網。我們今天實際上正在做所有這些事情。我們正在與英國（聽不清楚）合作，在那裡我們為使用 Quasar 的數千名客戶提供車輛到電網或車輛到家的服務。擁有 Pulsar 的數十萬客戶也使用能源管理。

So, it's not only converting all the hardware at the home to make it ready for energy transition, it's also all the software and all the current (inaudible) that will come from managing all this energy at the home.

因此，它不僅轉換家庭中的所有硬體以使其為能源轉換做好準備，而且還轉換所有軟體和所有來自管理家庭所有這些能源的電流（聽不清楚）。

Chris Snyder, UBS.

克里斯‧史奈德，瑞銀集團。

I just wanted to follow-up for clarification around the update the company provided on the DC fast charging purchase commitments and Iberdrola. So, I guess the question is -- is the 10,000 units the total number of units on order or only the orders from Iberdrola? And if so, can you provide any color on orders from non-Iberdrola customers?

我只是想跟進澄清該公司提供的關於直流快速充電購買承諾和 Iberdrola 的更新。所以，我想問題是——這 10,000 件是訂單總數還是僅來自 Iberdrola 的訂單？如果是這樣，您能否為非 Iberdrola 客戶的訂單提供任何顏色？

So, the 10,000 unit commitment has been given by the president of Iberdrola only for Iberdrola and this includes Supernova and Hypernova chargers. We keep having very strong backlog of a few thousand units, around 1,000 (inaudible) units additionally to be delivered pretty soon for companies like Copec in Chile, EGAT and Thailand or many CTOs that are placing initial orders to test our products.

因此，Iberdrola 總裁僅向 Iberdrola 承諾生產 10,000 台，其中包括 Supernova 和 Hypernova 充電器。我們一直積壓著數千台產品，很快還將向智利的 Copec、EGAT 和泰國等公司或許多正在下初始訂單來測試我們產品的 CTO 交付約 1,000 台（聽不清楚）。

And once they are happy, which we expect is going to happen pretty soon, we expect to increase their volume for their orders. But that amounts to 1,500 units more.

一旦他們感到高興（我們預計很快就會發生），我們預計會增加他們的訂單量。但這相當於多了 1,500 個單位。

At this time we currently have no further questions. I'll hand back over to Matt for any closing remarks.

目前我們沒有進一步的問題。我將把結束語交給馬特。

Great. Thank you, Charlie. So, thank you, everybody, for joining us today. We hope you found it a good use of your time today. Our next quarterly earnings call is going to be held in August so check back with us. Also please note that we have numerous investor events throughout May and June.

偉大的。謝謝你，查理。所以，謝謝大家今天加入我們。我們希望您覺得今天的時間已經充分利用了。我們的下一個季度收益電話會議將於 8 月舉行，因此請與我們聯絡。另請注意，我們在五月和六月期間舉辦了許多投資者活動。

So, if you'd like to spend some time with us, please check the calendar of upcoming events or conferences, which begin as early as tomorrow as a matter of fact. So, reach out to us at investors@Wallbox.com. Let us know if we can help you in any way. Have a great day, everyone.

因此，如果您想與我們共度時光，請查看即將舉行的活動或會議的日曆，事實上，這些活動或會議最早將於明天開始。因此，請透過 Investors@Wallbox.com 與我們聯繫。如果我們可以以任何方式幫助您，請告訴我們。祝大家有個美好的一天。

Ladies and gentlemen, this concludes today's call. You may now disconnect your lines.

女士們、先生們，今天的電話會議到此結束。現在您可以斷開線路。