Thibaut Mongon, Chief Executive Officer, commented,
“We delivered on our 2024 profit commitments despite headwinds that resulted in softer than expected sales growth and we enter 2025 as a more competitive company with stronger foundations. We remain focused on leveraging our increased brand investments to accelerate growth and deliver long-term value creation centered around profitable growth, durable cash flow generation, and disciplined capital allocation.”
Q4 Results
Net sales decreased by 0.1% to $3.7 billion, while Organic sales increased by 1.7%.
Growth in Skin Health, beauty, and Self Care was partially offset by a decline in Essential Health. In addition, the go-to-market disruption in Asia Pacific impacted the Company’s results, with an outsized impact on Essential Health.
Full Year 2024 Results
Full year 2024 Net sales increased by 0.1% to $15.5 billion, with Organic sales growth of 1.5% and a foreign currency headwind of 1.4%.
Value realization was favorable across each segment and was driven by a combination of carry-over pricing from 2023 and price actions taken in 2024. The volume decline was driven by Skin Health and Beauty and Self Care, which offset the slight volume growth in Essential Health.
Paul Ruh, Chief Financial Officer, said,
“As Kenvue enters our next chapter, we expect to accelerate performance throughout the year, while navigating the dynamic external environment contemplated within our outlook. We expect to drive further productivity and operational efficiency gains, which will fund our planned increase in brand investments, positioning us to grow adjusted operating margin for the year.”
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