the symbol of the Spanish electric car boom faces a difficult horizon

In its day, Wallbox was one of the great hopes for him electric car in Spain. A symbol with unicorn aspirations with Spanish capital, listed in New York and a simple initial purpose: to sell electric chargers. A purpose that gradually escalated to end up focusing on the comprehensive management of domestic energy.

The problem? Since last year the company has a value less than that of your debthas laid off a third of its staff and urgently needs a financial boost. One who doesn’t know where to find.

The situation. At the beginning of this month, Wallbox activated the pre-bankruptcy process. The company owes nearly 170 million euros to entities such as Banco Santander, BBVA, CaixaBank, or the Official Credit Institute.

The pre-bankruptcy status prevents creditors from executing their debts, so this shield is a small temporary ball to negotiate debt and reach agreements. Dates?

Evolution of the Wallbox share. Javier Lacort.

The hope. Wallbox closed the 2025 fiscal year with losses worth 103.19 million euros, 32% less than in 2024. The company reduced its labor and operating costs by 25%, managing to stop the debacle in its adjusted EBITDA.

What happened. In 2021, Wallbox was listed on the New York Stock Exchange with a valuation of more than 1 billion. Four years later, the company was worth 37 million.

• The company has been adding year-on-year losses that have plummeted its stock.
• It has reached a price below the dollar
• The situation led to massive layoffs and cost reduction plans

Since 2024, the company has focused the strategy on reduce operating losses and get creditors to sign a new financing plan. According to Wallbox, 85% of them support the plan but HSBC, one of the giants behind the financing, is reticent about the new roadmap.

Buying time. Wallbox is buying time with its pre-bankruptcy request, trying to refinance the 170 million debt. Although the situation is critical, all is not lost.

The company is managing to cut net losses and affirms that its strategy is aimed at “a more efficient, resilient and future-ready organization.” We have until summer to check it out.

Image | Wallbox

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