Kenvue Inc 2024年度报告

To Our Shareholders, In 2024 – our first full year as an independent company – we made importantprogress to strengthen our foundation as a pure-play consumer health company,build on the long legacy of our brands, and significantly increase our impact withconsumers. Kenvue today is a more agile and efficient company, ready to reacheven more consumers worldwide with unbeatable efficacy and innovation as wefocus on accelerating profitable growth. Advancing Our Journey Thibaut MongonChief Executive Officer The brands in our portfolio enter consumers’ lives at some of their most vulnerablemoments – the first time you take a bath, the first time you have a fever, the firsttime you see signs of acne, or the first time you experience arthritis. At these delicatemoments, we are proud to provide science-backed, innovative products and solutionsthat millions of consumers have turned to over time to take control of their health. When we entered 2024, we knew we had to make significant changes to unleashthe full potential of our portfolio, and we outlined three strategic priorities to guideour progress. While we have more work to do in 2025, there were many positiveindicators that demonstrate the sustained efforts of Kenvuers around the worldto advance these priorities: Reach more consumers. By strengthening our presence and prominence in-store and online,launching impactful innovation, and expanding and deepening consumer andhealthcare professional engagement, we saw proof points across our threebusiness segments that our plans are starting to produce meaningful results.We delivered share gains across nearly 80% of the Self Care segment,mid-single-digit Organic sales1growth in Essential Health, and while we didnot meet our expectations in North America and Asia Pacific, Skin Health& Beauty in EMEA and Latin America saw both volume and value growth.We will build on this foundation to accelerate growth in 2025. Free up resources to invest in our brands. We tracked ahead of our plans on this priority, as we increased Adjustedgross profit margin1by 200 basis points year-over-year, driven by strongproductivity enhancements. We also successfully executed year one ofOur Vue Forward, our two-year initiative to deliver $350 million of annualizedsavings by 2026. The efficiencies we unlocked in 2024 enabled us tore-invest 20% more in our brands versus the prior year, namely increasingour advertising budget as we pivoted to social media influencer-ledcampaigns, ramping up healthcare professional engagement, and enhancingin-store prominence. Foster a new culture that rewards performance and impact. We have fundamentally shifted the way we work across Kenvue, includingintroducing a new performance and incentive model that ties to our companygoals. We also brought in a significant number of new Kenvuers worldwide toadd to our strong workforce and elevate our capabilities and expertise acrossthe business. Today we are working under a new, simpler, more effective, andmore efficient operating model with clearly defined roles and responsibilitiesfor our teams around the world. In tandem with advancing our strategic priorities, we significantly strengthened ourbusiness foundations. We have exited nearly all 2,000+ services in over 50countries under the Transition ServicesAgreement with Johnson & Johnson,without any disruptions to the business, and we took this opportunity to build fit-for-purpose, cost-effective systems and processes that are unique to our needs asa consumer health focused company. For the full year, we delivered year-over-year Organic sales1growth of 1.5%, belowour expectations, while we achieved 21.5% Adjusted operating income margin1and$1.14 Adjusted diluted earnings per share,1both within our guidance range for theyear. We are focused on taking the work we began in 2024 to the next level in 2025and beyond to achieve the results and profitable growth we know we are capableof delivering. Accelerating to Unlock Our Full Potential in 2025 Starting from this strengthened foundation, we are aggressively and methodicallydeploying what we call our ‘Extraordinary Powers’ across our portfolio in 2025.This formula has five elements that we expect to drive faster Organic sales1growth: ·Superior Science.Everything starts with science at Kenvue. The scienceunderscoring the efficacy of our products builds trust and drives loyalty with thepeople who use our products. Our science-backed portfolio differentiates us, andlooking ahead, we will be putting powerful science-backed claims front and centerfor consumers in 2025 in relevant, easy-to-understand ways. We will also leverageour science to further strengthen credibility, partnership, and recommendationswith expert healthcare professionals. ·Expert Recommendations.We already have #1 recommendations fromhealthcare professionals across many of our brands. In 2025, we will build onthose positions through stronger relationships with experts while amplifying thevisibility