The Group’s business segment information included in this note is presented in accordance with the disclosure requirements set forth in IFRS 8. Segment reporting is a basic tool used for monitoring and managing the Group’s different activities. Segment reporting is prepared based on the lowest level units, which are then aggregated in line with the structure established by Group management to set up higher level units and, finally, the actual business segments.

The Group has consistently aligned the information from this item with the information used internally for top management reports (Group top management consists of all Chief Officers acting as decision makers). The Group’s operating segments reflect its organizational and management structures. Group management reviews the Group’s internal reports and uses these segments to assess performance and allocate resources.

The segments are differentiated by geographical areas from which revenue is or will be generated. The financial information for each segment is prepared by aggregating figures from the different geographical areas and business units existing in the Group. This information links both the accounting data from the units included in each segment and that provided by the management reporting systems. In all cases, the same general principles are applied as those used in the Group.

For management purposes, the Group is organized into business units based on geographical areas and therefore has three reportable business segments. The business segments are as follows:

Transfer prices between operating segments are on an arm’s-length basis in a manner similar to transactions with third parties.

Revenue from sales of goods reported in the EMEA segment also include sales from Wallbox Chargers, S.L. to Latin America region.

Information related to each reportable segment is set out below. Segment operating profit (loss) is used to measure performance, as management believes that this information is the most relevant when evaluating the results of the respective segments relative to other entities operating in the same industries.


	Year ended December 31, 2023
(In Thousand Euros)	EMEA			NORAM			APAC			Total segments			Consolidated adjustments and eliminations			Consolidated
Revenue from sales of goods		115,071			17,042			1,020			133,133			(3,717	)		129,416
Revenue from sales of services		6,787			8,728			693			16,208			(1,855	)		14,353
Changes in inventories and raw materials and consumables used		(81,453	)		(17,197	)		(615	)		(99,265	)		3,762			(95,503	)
Employee benefits		(61,103	)		(19,393	)		(740	)		(81,236	)		—			(81,236	)
Other operating expenses		(50,717	)		(10,318	)		(543	)		(61,578	)		1,790			(59,788	)
Amortization and depreciation		(25,478	)		(2,755	)		(210	)		(28,443	)		—			(28,443	)
Other income		14,176			119			(1	)		14,294			(34	)		14,260
Operating Loss		(82,717	)		(23,774	)		(396	)		(106,887	)		(54	)		(106,941	)
Total Assets		599,950			157,919			375			758,244			(274,703	)		483,541
Total Liabilities		301,341			38,024			183			339,548			(5,818	)		333,730


	Year ended December 31, 2022
(In Thousand Euros)	EMEA			NORAM			APAC			Total segments			Consolidated adjustments and eliminations			Consolidated
Revenue from sales of goods		134,156			19,936			17			154,109			(17,737	)		136,372
Revenue from sales of services		5,989			3,616			397			10,002			(2,189	)		7,813
Changes in inventories and raw materials and consumables used		(88,104	)		(15,787	)		(16	)		(103,907	)		18,302			(85,605	)
Employee benefits		(74,895	)		(13,533	)		(386	)		(88,814	)		—			(88,814	)
Other operating expenses		(72,844	)		(21,026	)		(113	)		(93,983	)		2,428			(91,555	)
Amortization and depreciation		(17,058	)		(1,830	)		(2	)		(18,890	)		—			(18,890	)
Other income		1,508			335			1			1,844			—			1,844
Operating Loss		(111,248	)		(28,289	)		(102	)		(139,639	)		804			(138,835	)
Total Assets		515,796			155,529			60			671,385			(249,401	)		421,984
Total Liabilities		336,356			32,001			47			368,404			(115,570	)		252,834


	Year ended December 31, 2021
(In thousand Euros)	EMEA			NORAM			APAC			Total segments			Consolidated adjustments and eliminations			Consolidated
Revenue from sales of goods		71,378			4,687			—			76,065			(6,960	)		69,105
Revenue from sales of services		2,902			—			298			3,200			(726	)		2,474
Changes in inventories and raw materials and consumables used		(47,056	)		(3,345	)		(19	)		(50,420	)		6,167			(44,253	)
Employee benefits		(27,130	)		(2,309	)		(227	)		(29,666	)		—			(29,666	)
Other operating expenses		(42,273	)		(1,778	)		(63	)		(44,114	)		709			(43,405	)
Amortization and depreciation		(8,214	)		(268	)		(1	)		(8,483	)		—			(8,483	)
Other income/(expense)		962			(306	)		—			656			—			656
Operating Loss		(49,431	)		(3,319	)		(12	)		(52,762	)		(810	)		(53,572	)
Total Assets		343,320			128,312			84			471,716			(129,103	)		342,613
Total Liabilities		210,418			15,622			16			226,056			(14,515	)		211,541

There have been no significant transactions between segments for the years ended December 31, 2023, 2022 and 2021, except for inter-segment revenues which are eliminated in the column ‘Consolidated adjustments and eliminations’. The elimination of revenue and changes in inventories and raw materials and consumables used mainly relates to eliminating the intercompany sales of EMEA to NORAM and APAC. The impact of this elimination on consolidated operating loss relates to the elimination of profit on stock of inventories held by the NORAM segment.

Certain financial assets and liabilities are not allocated to these segments, as they are managed on a Group basis. These are reflected in the ‘Consolidated adjustments and eliminations’ column. All finance income and expenses are considered to be part of the Corporate segment and hence not further allocated to the operating segments EMEA, NORAM and APAC.