康宝莱 2024年度报告

To Our Shareholders, This year marks Herbalife’s 45thanniversary. As we continue our journey to becoming the world’s premierhealth and wellness company, community and platform, our impact on people’s lives has been truly incredible. Herbalife operates in 95 markets worldwide. We offer science-backed, high-quality nutrition and skin careproducts, and a business opportunity through Herbalife Independent Distributors that generated $5.0 billionin net sales and $634.8 million in adjusted EBITDA in 2024. Our scale and reach globally puts us in a unique position for the future. That future is to become one ofthe world’s most important health and wellness platforms, and I’m honored to say that effort will be led byStephan Gratziani, who will become the new CEO of Herbalife effective May 1, 2025. Since joining the company, Stephan has worked alongside our amazing team of distributor leaders andemployees to implement innovative initiatives designed to support distributors and drive sales. In this year oftransformation, we began by focusing on rebuilding and strengthening our distributor base. We’re seeing earlysigns of success and believe the growth trajectory will continue. These successes are primarily driven by the multiple initiatives we’ve put into place since the beginning of 2024under Stephan’s leadership, including expanding and elevating our distributor training and support throughprograms like the Herbalife Premier League, Diamond Development Mastermind, DMO masterclasses, andleadership training sessions with Eric Worre. Our 2024 Extravaganza training events continued to attract distributors from around the world. Overall eventattendance across the globe was greater in 2024 than in 2023, further reflecting the demand and value thesein-person events provide for development and networking. In 2025, we plan to host multi-city and multi-dayevents in select regions to accommodate the increased demand. This is why we continue to double-down on our people and our business model while other companies moveaway from multi-level marketing. We believe in our Herbalife global community, which is our strength andour differentiator. Product is another of our strengths and will continue to support the foundation of our business. In 2024, welaunched innovative products around the world we believe resonate with local markets and reflect consumertrends and preferences. We will also continue to develop more sustainable packaging through initiatives thatfocus on the health of our planet, including the transition of Herbalife24 Rebuild Strength packaging from aplastic canister to a pouch format for the EMEA Region. This change reduced the amount of plastic we use,increased efficiency due to lighter shipping weight, and reduced our overall carbon footprint. This is part ofour broader repackaging effort, which we will discuss more in 2025. Our products are what fuel our sponsored athletes, who continue to compete at the highest levels like theSummer Olympic and Paralympic Games, where we fueled 33 athletes and 7 teams this past summer. And,as the official jersey sponsor and nutrition partner of the Los Angeles Galaxy soccer team, we were proud tocelebrate alongside them as they earned their 6th MLS Cup Title. We’re also proud of our long-time commitment to female athletes and launched our Women In Sportscampaign globally in conjunction with International Women’s Day. The campaign is focused on inspiring andempowering the next generation of female athletes and health enthusiasts, celebrating and raising awarenessof women in sports and their need for custom nutrition. These athletes are important brand ambassadors and a testament to the advanced nutrition delivered by ourscience-backed products. From our global distributor community to our approximately 8,600 employees around the world, we all proudlyrepresent Herbalife. Our strong leadership team includes the appointment of Rob Levy to President, WorldwideMarkets. Throughout his 30-year Herbalife career, Rob has led each of our regions. He’s also played a key rolein the opening of more than 35 markets around the world and has been responsible for numerous corporatefunctions including our distributor-facing businesses, sales and marketing, and distributor operations. He’s theright leader at the right time for our markets around the world. 2024 was a transformative year. Our net sales have stabilized, margins have significantly improved, and we arereducing debt quarter by quarter which has positioned us to deliver long-term shareholder value. It’s a new chapter for Herbalife. Our incoming CEO, Stephan Gratziani has an exciting and unique visionfor our future. A vision that merges our strong distributor network with cutting-edge health and wellnesstechnology that will modernize our business and redefine direct selling. The opportunity it will provide forour distributors and customers is simply unprecedented. It’s a vision I believe in and am excited to be part of as Ex