June 23, 2024

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Harley-Davidson 2022 Investor Day Update: Hardwire Stage II


MILWAUKEE, Might 10, 2022 /PRNewswire/ — Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) will host its 2022 Investor Working day at the Harley-Davidson Museum in Milwaukee, WI nowadays.

“We have a obviously defined vision and method that we imagine will seize financially rewarding growth prospects. Despite the macro troubles, we are by now viewing the proof points of The Hardwire and, these days, we are getting it to the up coming degree,” stated Jochen Zeitz, Chairman, CEO and President, Harley-Davidson. “In motorcycling, when you want to get additional out of an engine, you improve it by adding a Phase II kit, that is what we are doing with our Hardwire method, tuning the motor of our business for improved acceleration and enhanced effectiveness.”

2022 Outlook – Reaffirmed

For the whole 12 months 2022, the Business reaffirms its first advice and carries on to anticipate:

  • HDMC earnings development of 5 to 10%
  • HDMC working revenue margin of 11 to 12%
  • HDFS operating cash flow to drop by 20 to 25%
  • Funds investments of $190 million to $220 million

The “Hardwire Stage II” monetary targets 2021-2025E include:

  • HDMC Income progress CAGR from 2021 to 2025E: +5% to +7%
  • HDMC Running Margin: 15% by 2025
  • HDFS Running Cash flow progress CAGR from 2021 to 2025E:  -3% to -5%
  • HDFS Working Income development CAGR from 2022E to 2025E:  +3% to +5%

HDMC Income 2021-2025E steering excludes LiveWire One particular branded bikes and incorporates High definition branded Bikes, Areas & Add-ons, Clothing & Licensing, and Ordeals.

In addition, the “Hardwire Phase II” involves consolidated fiscal targets at Harley-Davidson, Inc. (HDI) for 2021-2025E:

  • Profits CAGR for blended HDMC & LiveWire: +9% to +11%
  • Working Margin for mixed HDMC & LiveWire: 12% by 2025
  • Cash Expenses for HDMC & LiveWire:  $250$300 million for every 12 months
  • Concentrating on $400 million of price tag productivity for HDMC by 2025

Presentation Elements

Supplies shared at this function, along with a recording of the presentation webcast, can be found soon after the meeting on Harley-Davidson’s Investor site at https://investor.harley-davidson.com/information-and-occasions/occasions-and-shows.

Cautionary Be aware About Ahead-Looking Statements

This press release relates to the company’s strategic system, The Hardwire, which include Hardwire Stage II. The business intends that all statements in this press launch concerning the firm’s system, together with without limitation its programs, objectives and expectations, long term economic and other results it seeks to achieve, the new product introductions it contemplates, and its views of marketplace possibilities and advantages and other issues resulting from the firm’s approach in this press launch are “ahead-seeking statements” meant to qualify for the harmless harbor from liability proven by the Personal Securities Litigation Reform Act of 1995. With no limitation, the 2021-2025 monetary targets included in this press release are forward-seeking statements.  These ahead-looking statements are topic to specified pitfalls and uncertainties that are probable to bring about actual final results to vary materially, unfavorably or favorably, from people predicted as of the day of this press launch (May well 10, 2022). Selected of these kinds of hazards and uncertainties are described down below, and some others are listed in Merchandise 1A. Risk Factors, of the company’s Quarterly Report on Type 10-Q for the quarter finished March 27, 2022 as well as in Merchandise 1A. Danger Factors of the company’s Once-a-year Report on Sort 10-K for the calendar year finished December 31, 2021the company’s April 27, 2022 earnings press launch. Shareholders, probable buyers, and other viewers should really look at these things in analyzing, and not put undue reliance on, the forward-seeking statements. The ahead-seeking statements in this press release are built as of the date of this press launch, and the business disclaims any obligation to publicly update these kinds of ahead-hunting statements to replicate subsequent gatherings or conditions.

The company’s capability to meet up with the goals, milestones, outlooks, targets, and targets mentioned in this push launch depends on, amid other factors, the firm’s capacity to: (i) execute its organization strategies and methods, like The Hardwire and Hardwire Stage II, including each of the pillars of the system (ii) the evolution of LiveWire as a standalone manufacturer, such as the proposed separation of LiveWire into a separate company of the company by means of the combination of LiveWire and AEA-Bridges Effects Corp. (“ABIC”) and recognize the predicted business rewards from the blend of LiveWire with ABIC (the “Company Combination”), which may perhaps be impacted by, among the other matters: (1) the potential of LiveWire to: (a) execute its ideas to establish, generate, current market, and offer its electric powered motor vehicles (b) achieve profitability, which is dependent on the effective enhancement and professional introduction and acceptance of its electrical autos, and its services, which may possibly not arise (c) adequately control the expenditures of its functions as a new entrant into a new space (d) produce, retain, and bolster its brand name (e) execute its options to develop, make, sector, and sell its electric powered cars and (f) properly establish and manage cooperation from its retail companions, mainly drawn from the company’s standard motorbike seller network, to be equipped to effectively set up or maintain associations with clients for electric motor vehicles (2) opposition and (3) other challenges and uncertainties indicated from time to time in the last prospectus of ABIC, like all those underneath “Danger Elements” therein, and other documents submitted or to be filed with the SEC by the firm, LW EV Holdings, Inc. (HoldCo) or ABIC (iii) take care of supply chain and logistics troubles, together with high quality difficulties, availability of semiconductor chip elements and the potential to locate different resources of individuals parts in a well timed manner, unpredicted interruptions or value will increase prompted by supplier volatility, uncooked material shortages, war or other hostilities, such as the conflict in Ukraine, or pure disasters, and extended shipping and delivery periods and greater logistics fees, like by effectively utilizing pricing surcharges (iv) establish and introduce merchandise, providers and activities on a timely basis that the industry accepts, that permit the enterprise to create sought after product sales amounts and that offer the wanted fiscal returns, like properly utilizing and executing ideas to strengthen and improve its management place in Grand American Touring, large Cruiser and Trike, mature its complementary firms, which includes Parts & Accessories and Clothing & Licensing, and evolve as a global life-style model (v) control and predict the impact that new, reinstated or adjusted tariffs may possibly have on the company’s capability to market items internationally, and the cost of raw materials and components, which include the short term lifting of the Area 232 steel and aluminum tariffs and incremental tariffs on bikes imported into the EU from the U.S., in between U.S. and EU, which expires on December 31, 2023 (vi) successfully have out its worldwide production and assembly operations (vii) proceed to develop the abilities of its distributors and sellers, correctly implement alterations relating to its dealers and distribution methods and manage the dangers that its sellers could have issue getting capital and managing by way of transforming economic ailments and purchaser demand (viii) correctly analyze, forecast, and react to sector demand, modifying current market problems and attributes of the populace of motorcycle riders and (ix) execute in a fashion that allows the business to profit from marketplace options even though competing in opposition to current and new competition.

In unique:

  • The statements in this push launch relating to the firm’s strategic prepare, The Hardwire and Hardwire Phase II, specially the 2021-2025 financial targets and other potential results from the prepare, usually depict only the company’s targets, aims, and aims regarding the program and prospective results from the plan.
  • When numerous statements use language that could suggest a level of certainty about the probability that the corporation will achieve these targets, aims, and objectives, it is possible that the enterprise will not attain them in the timeframe observed or at all.
  • By their mother nature, the possibility and uncertainty involved with these plans, aims, and aims are greater than that related with near-phrase direction, and ought to not be construed as direction.

As a result, buyers need to construe these statements pertaining to The Hardwire and Hardwire Stage II only as aims, aims, and aims instead than claims of potential efficiency or complete statements.

### (HOG-F)

Harley-Davidson Motor Company (PRNewsfoto/Harley-Davidson, Inc.)

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