DEF: LiveWire Group Aims for Profitability and Growth in 2024, Announces Annual Meeting

LiveWire Group reports progress in electric motorcycle development and brand awareness in 2024, with a focus on profitability and growth, and announces its annual stockholder meeting.

Summary

• LiveWire Group made progress in 2024 towards its goal of pioneering the electrification of motorcycling.
• The company launched two new electric motorcycle models on its S2 platform, Mulholland and Alpinista, expanding its product offerings in North America and Europe.
• LiveWire plans to launch its first electric maxi-scooter to broaden its addressable market.
• The company increased its operations in Europe to include Spain and Italy, expanding its presence to seven countries.
• LiveWire is focused on simplifying operations and reducing EV motorcycle product costs, expecting to reduce cash burn by over 40% in 2025 compared to 2024.
• The Annual Meeting of Stockholders will be held on May 14, 2025, to elect directors and ratify the selection of KPMG LLP as the company's independent registered public accounting firm.
• The Board recommends voting for the election of all nine director nominees and for the ratification of KPMG as the company's auditor.

Sentiment

Score: 7

Explanation: The document expresses a positive outlook with new product launches and expansion plans, but acknowledges challenges in the market. The focus on cost reduction and profitability is a positive sign.

Positives

• LiveWire launched two new electric motorcycle models, Mulholland and Alpinista, on its S2 platform in 2024.
• The company plans to launch its first electric maxi-scooter to expand its market reach.
• LiveWire expanded its European operations to include Spain and Italy, now operating in seven countries.
• The company expects to reduce its cash burn by over 40% in 2025 compared to 2024 through cost management and product cost reductions.

Negatives

• The EV motorcycle market and powersports industry continue to face a challenging environment.

Risks

• The EV motorcycle market and powersports industry continue to face a challenging environment.
• The company's ability to achieve its expected reduction in cash burn is subject to various risks and uncertainties.

Future Outlook

LiveWire aims to continue building its leadership position in the electric motorcycle space by expanding brand awareness and delivering world-class products, with a focus on profitability and growth.

Management Comments

• Jochen Zeitz, Chairman of the Board: 'We are confident in the ability of the LiveWire team to adapt to the evolving environment and to lead in EV technology.'
• Karim Donnez, Chief Executive Officer: 'The team implemented a strategic plan to drive simplicity throughout the Company and heighten focus on profitability and growth, setting up the Company for long-term success.'

Industry Context

The document acknowledges the challenging environment in the EV motorcycle market and powersports industry, highlighting LiveWire's efforts to position itself for long-term success despite these challenges.

Management Changes

Stakeholder Impact

• Shareholders are invited to participate in the Annual Meeting and vote on key proposals.
• Employees are impacted by the company's strategic plan to drive simplicity and focus on profitability and growth.
• Customers benefit from the company's commitment to developing future technologies and investing in EV capabilities to elevate the motorcycling experience.

Next Steps

• Stockholders are encouraged to vote on the election of directors and the ratification of the selection of KPMG as the company's independent registered public accounting firm.
• The company will continue to focus on simplifying operations, reducing costs, and expanding its product offerings and market reach.

Key Dates

Keywords

LiveWire, electric motorcycles, annual meeting, KPMG, directors, S2 platform, Mulholland, Alpinista, maxi-scooter, Europe, cash burn, profitability, growth