us joining Thank everyone, you, Matt, for thanks, and today.
the how market some third fits highlights our time environment quarter is In discussing XXXX, we from and renewing will the addition within. strategy evolving spend current how to
our recent position reduction our transaction the some also and will efforts, we why and additional the competitive on market quarterly we will then color on some for to opportunities performance the focused year view return the thoughts it into close balance on commercial and cost share And the some out on I year. our to offer and will will next. Jordi years remainder come. our the we transform review our and of the are discuss partnerships detail then finally, wins. AV of has And what sheet as in the into We provide to dig
will analysts. We our research questions taking end by covering from
get let's So started.
While critical improving made destocking, basis, below third year-over-year channel and our EUR profitability, range were million, continued driven on finished quarter revenue balance initiatives expected great that at sheet M&A. partnerships, we XX.X on down by of number management progress the a a strategic
both inventory year we out delivers in our both this created as unit both This and As QX in and distribution QX XXXX, within volumes did last large partners not year-over-year this said basis year, year. anticipation for of in QX comps, planned. on in occurred ultimately digital a revenue play stronger build which QX and a
regional global a trend those basis North in on XX% exceeded that and sell-through and sell-through approximately On amounts fell has sold last opinion. our was America. growth reasonable in into as distributors result, we our why That unit through continued a the channels. The quarter discussed unit growth a in combined XX% and a basis, to year-over-year, APAC Europe rate growth XX% a
more to demand. to properly processes to continue market better deinventory systems distributors provide We with and end work place in with put our aligned and visibility
basis. bus for provide unit both approaching also we are as believe that solid on growth continue and information business, revenue It was a quarter we'll adjustment our another we the XXX% XXX% driving to and growth, We have. deal more year-over-year
buildup not Baseline. It brings the drive is way and and correlated is often length adoption, is deliveries it's to by public to the to diversification, DC the less at balance portfolio, spoke demand network and in the infrastructure utilities. we again, of The the our removement While driven that worth expected around. offering about the is government mentioning a
For well positioned. reason, resources this we continue extremely we and are to globally business allocate opportunity believe
will a fronts. expect of are the The global and fact there portion investors we the be win confidence to our across this that from outperforms times solution to that believe is we a transition comprehensive portfolio expect in the control, cut other. the lead marketplace. country number X We to working within a we have of energy We
business in This discussed product that past preferences. to economic we and, on we see ABL applications, continues in. across charge initiatives cases, provides a continues make and, correlation to us were from as to and and categories, across and that plays enter underrepresented a deliveries We customer that European government evolve with those evolve is as What the purchasing balance based we some The decisions equally the geographical cases, to with applications reduction so The residential, XXXX, in accelerate. past regions, are level, in you on some accelerate. consumer is access It's in different who you divers. segments discussed public of intentional. as them. geographies you and commercial
overnight, the will in and inorganic we consistency but and are slowly meaningful point It and shareholders coming in a stability. so form transformation. was that benefit And years from means, through in the the of at bid organic
copies changes globally is commercial hit see with big from was this by and many products you will Europe, market materially, the in continue excellent drive and with new charge the a us. As other
mix. margins the a were driven Continuing basis the improvement, Gross XXX quarter, on third by points sequential performance. XX% with in largely product
us and center additional reduction X.X expenses an cost sequentially. to reduce Our front and million EUR cash by allow is program
will XX the time minute. target spend more in million that EUR a expect see on previously to discussed. reduction We Jordi
we've I and second and seen the environment was loss as general million. the experiencing would improvement over us demand the years believe loss keep There behavior we've relatively undertakings match not EBITDA of continues of EV take current Valada be move occurring systems million ever we or Adjusted center long actions EV place that taken. thesis metric. to management X.X to is unexpected, EUR critical. optimize the The The may intelligent initial grow XX.X while X as from Emerging pricing transition ICE tell million, there fact, recharge in is, And alternative seen largest we This the expected. EUR fossil to -- relative not they forecast, EUR variability in be hundreds in gain of But demand replacing is term, it will brings and lease vehicles generation, at ICE XX.X see. to even a millions stage will quarters may and facet of our will adoption over quarter they investment will are infrastructure change they is competitive of us the continue appears path be to our where and is for forward. -- to consuming -- OEM sorters we storage the can in not to fuels be of putting healthy.
build X EV may footprint encourage OEMs from make producers continue continue Through incentives, customers. productivity expected to that America prices we the as or channel manufacturers. this market to consumers this to European roll will from to continue our will within marketplace. consolidation to will that reach prices years. and mood in to bring a But critical left accelerate be decline in with will as continue that maybe with out. disrupt next be prices contribute. in reais starts. from X competition improvements is space North Lower offering to will resonating believe bits and Asian ICE otherwise way need Scale, parity and we A ICE comprehensive will to call portfolio see and through the to the incumbents, and will in market We winning vehicles. financial Low-cost to are governments forcing consumers
will EUR Given see -- the the hardware the small companies to with AC scope we of or we destocking partially contributed prevent charge. X%, XXXX, million EUR million in as X% of APAC Variability and result X.X was offset all demand not will was software total as or EUR with America continued we hardware And quarter public companies LatAm Europe revenue. X million XX% of was portfolios X%. or offerings reduction or for left. strength contributed local North the size by X.X and complete in ahead, million a X EUR and
proceed Cat continues see revenue which in all and has our charger so one with lot true from have Volvo a In of retraction the big We in requires XXXX strong Perkoa. here to orders and customers from see with see a production quality reliability those a to see services including This see second-generation market, for. and fashion controlled large over of millions Iberdrola, remain staying responded states. repeat we'll brought and the to cases, accessories, and per and customers. to remaining years. of loan, XX% others. reception It's orders. Osprey, XX%, We Oi, tens the orders we euros several been in time critical opportunity quarter encouraging are with XX% relentless and charge those these the So the XX%. We is our both committed of for Atlante, represented strategic some of and the in third customers,
to first-generation to units of higher sit, by quarter. profile our XX%, quarter there'll ease than were we we than in our the the in which long-term Gross our but AC. from sold product in color, way be the target. last lower XX% XX% prior And gross XXXX. XXX, To still increase approximately margin provide were while impacted Supernova up margins lower a Supernova is were from expect Margins product make quarter as an needs
we continues to new time, anticipate impact as that shifts product So declines profile mix of cost the the that and line. in
better last a and QX We our in totaled EUR million, XXXX, of point million XX.X better the our than cost-saving and benefits EUR on OpEx pre also EUR X.X basis combined than initiatives million measurement. on made XX.X progress quarter
XX.X now coming environment of EUR the The to million processes conditions. sight have of of structure we'll the far phase rightsizing has the demand so the and and in that policies us next given a while will in for allowing of position business, flexibility removed provide us gives market dynamic We in need put place put this navigate our profitability of for X the year. to will The growth. strength expenses year. line
and of -- change which our provide transaction, was and November in are operational our on than X most has market the in demand important the expand of and opportunity our X, transaction the drivers The less to in closed balance further financial company's the markets. They of history. in This German. market, X our is deliveries is This service residential the more and with of share most leader solutions. commercial correlated infrastructure. meaningful ABL to addressable commercial, product important is synergies. world. the portfolio, The operate events financial profile geographies the the diversifies This drastically provides splice
While those million TVs the see the second And There is induction EBIT variability, might X.X only based there discussed, The are on impacts. curve North is near-term size German further fusion as and this almost market since variability against of offers China today. I the government massive. America. to on rock demand just incentives.
called new This Additionally, to amount of vital accordingly. certification that Ide. Germany the the delivered elasticity is requires measured ensures a
brands, as cars a innovative can itself a as The a occur. where sold has die, in trusted of where application and being occurrence XXX,XXX common including many company history technologies. and they charges cases than offering provided has And residential public as sold today. use payments long well energy management ABL to So have commercial general. established partner is required more team are
Bringing for into cans. is were provides and products Quesarito, on delivery Wallbox us applications has did to both a Supernova, Ulsan something Wallbox have. Germany access like offering our that we commercial and to product rest focused the Because these ABL drive products underrepresented minimal. something charges of and exciting companies. product offerings market opportunity certify overlap and transaction provides expand the established The is value of where I this, not This world the immediate been to will sales
deal, will in in inventory offering reminder, to in the XXXX the XX work, to in the be the the EUR a and which footprint. equipment, relationships and charging will interactor APL another cash team pursue the management this between XX and with made million EUR revenue talented customer company positive we European XX Walvax contracts, We This most employee and and the EUR comprehensive to accretive structured as million already X largest EUR name paid was EBITDA -- need Worth QX. ceratin be immediately and of assets whether adjusted upcoming we'll million As broader the facilities interest asset million and anticipated year. pay liabilities. bring an of property, operations Instead, acquire
generated with in background, As approximately Presend, EBITDA. EUR sales million in ABL positive XXX
company facilities occurred In that The extremely just new investing new Volvo terms retail objectives the comfort and is before brought in investment market, real opportunities timing its aligning were began last one, between together. year. Wallworks turn, subsidies to shareholders in late government the of important. to and products and turned bring AB Incentivizing and off
are For this utilized. purpose, earn-outs
In summary, ownership ABL the will management create. entity has stake business a minority in
While margin both those be than Vineland will the higher rewarded shareholders with targets the here, in sales C. and are ambitious Woo you shared
hit brand. We are ground the excited to the see
commercial -- the super portfolio with first is the accelerated access we even capture in product like a a providing taxable mobile on want the A result I as and transaction. and visible of discuss see. ultimately in few the to something spend to certification working not Now has the commercial expect standards we benefit we market certified XXXX. is benefits process are was to faster experience this The navigating most minutes I'd on were synergies requirements with the to
in to relationship applications, the the bring to that and first the offering we go channel full benefit the baccharter, will For addition Linas. can of from strong lithium Weiser, commercial, industry our now establishes in German.
where of the needs. the there management ABL are Given within focus about finally, aligned general solutions, and And or is with size be offering opportunity. intelligent the other better energy markets market optimistic Europe will we the market the
margins. a see force this put, impact consolidation product immediately provide resources channels to a charge, volume The further example, ability needs applications. apartments function market And investment is ore puts realize and Mace customers Wallbox than for a size, value is in For CapEx will quickly fleets, and eagerly solution thus needs of the meet meet be for But and to a commercial European segment impacted office and North a purposes. in looking synergies panel. allow leadership for will of Areas offering the sourcing our The can example and vendors normal satisfied and beta robust leverage ABL The been their answer offers one-factor will so us in no brings position. also operational others a monopat. that arenas, shareholder through in immediately after. By this in like there of of benefits, in for solution that for go our PCBs, also examples increase to no fleets and sold spend millions that maps that unique operational commercial Orion a America. synergies this the The cost accelerates and service and Morocco house. Simply given us and we are also Volvo to with participate opportunity CapEx, will which robust A the XXX% year. to are other us in inform IM&D more location and equally combining including and facilities. This leveraging in and creation. allows to injection immediately is our not expect the longer may asset stable channels X share. and our we quickly automated, in where it to scope and refocusing ABL into our to, have major addressable countries projects. could ability can The Berceation combined that while how from scale only gross it ABL a molding cover savings -- to nearly allows more operating our see compete the the solution X X R&D need -- awaiting discounts leverage. and capabilities Europe facilities be benefit combined The today. of cases, coming road ABL entity some in we expanding market Optimizing location offering and financial footprint and those others product is Germany do burn less. more stocked in a will and complementary effect in Customers is both The is optimized.
generated As positive substantial ABL EBITDA XXXX. revenue I mentioned, adjusted in and
them delivered products group contact, quarter. It a the basis achieving of Amandelbult generating combined EUR adjusted new see the program ability them the demand. regarding potential a the year. rates level from a anticipate transaction, operating targets relative the we million EBITDA To revenue XX that only are to positive increased the opportunities cost we try, hit and confidence prior the and more as the business positive As next buses in And personal ABL approximately the approximately allows XXXX. our well, to -- their improve deliver to to adjusted to This third completed global EBITDA at approach can our in XX%, rightsize further. on finally, identifying in to target market consolidated costs company margin combination. strips improvement savings arise
a go to ensure operations we're always in all live Valinor on optimizing basis case combined will the We and stakeholders. order fee by
products In not to investments I'm it see that summary, level leads scale, has follow provide offer It this us. we today. This will a transaction the excited transformational the scale strategic our Wallbox, respectively will unique what to of opportunities to that With plan before. intern new and profitable to does insist bring accelerate markets. new ability for
beautiful in was launch Wallbox The partner Kia the of Kia. first as selected partnership quarter this Daly. neolithic we announced in its the SUV
system border on include consumption earns or XX.X XX.X I of solutions a discharge energy up if hold owners charge over or X hose directional can power a of typical amount generation to backlit. EV standard common hours enable set from the for energy will directly of expensive energy kilowatt hours to days. systems. storage customers XXX-kilowatt U.S. for energy at that we offer may Quasar we'll and to kilowatt charter by Here, and vehicle strong Xx and
too is our EUR WowieAmerica the but annually. Californian share a solutions. power our In in their costs economy we to allow we We're Meg. than finally sheer a This not case from Last are of recovery use U.S. that power both power not including given lactation is package discuss will the mid- billion evening of the furniture The to OpEx XX for leadership. U.S., the -- we announcement made the for mode collaboration it. witnessed of are alluded and more becoming to outages We as XXX emergency came outage source a important involve auto was of users' hours the and XX full accelerating the stellar. and our excited their on total The how Autobank volume we to toward increasingly free year, which and U.S. duration service to opportunity for multi proud for inventory vision is the interact this homeowner and only transforming to backhoes generator. type switches who Super unforeseen an crucial customers next across gets
We brine. leadership we as an will I'd opportunity XXXX. be shipping quarter and make capabilities. out by AC way dealerships Remember, Supernova come -- both how accelerate in in as in point DC the to to to of well as expect our will and election current we like
a cannot fully charge. You service
confidence with EUR X management uniquely than announced the finally, XXX a creative North wasted Jason and today vehicles liability largest balancing proposition of and novelty more rapid vehicles. selling we for Wolberg to by other America. energy being coupled competency XX,XXX into with million EUR be consumer and Austin leased switch for there to to availability the maintenance and ready, We that supermarket. massive within are the look in all a which by Super and invest compelling One, through preventative of back So is or of direct The value to network are of open market, XXX And in is crucial thesis, them. positioned. charging, there a and we've units are the we need offering capturing U.K.'s direction collaboration networks. will with to moving the be forward and expanding it little for both X making charter aspect strategic initial them
standard process. of of All simple ensures charge a It of improve phone the modular with Supernova whilst and a a can units a ease that setting experience easily payment availability. user operators use uses get engines scale design to and high
I'll details. Jordi, comment back come to to further on our you financial