Kimberly-Clark (KMB) 23rd annual dbAccess Global Consumer Conference summary

Business momentum and strategic vision

• Strong base business performance driven by the Powering Care strategy, resulting in consistent volume and share growth over nine quarters.

• Significant premiumization of product lines, with Huggies moving from 65% value tier to 80% premium in the U.S.

• Enhanced offerings for value consumers, especially in China and the U.S., leading to notable volume improvements.

• Focus on product superiority, innovation, and digital marketing to drive category growth and consumer engagement.

• Commitment to serving all consumer life stages through a comprehensive portfolio, especially with the Kenvue transaction.

Financial performance and productivity

• Sustained volume and mix-led growth in North America, with Q1 consumption up 3.7% and shipments up 1.4%.

• Expectation of shipment acceleration in the second half of the year, supported by a strong innovation pipeline.

• Tracking ahead on a $3 billion five-year productivity program, with 56% of the target already delivered.

• Major investments in network optimization and automation, with productivity gains expected to ramp up from 2027.

• Continued commitment to maintaining strong cash returns, dividend growth, and opportunistic share repurchases.

International growth and category development

• Double-digit growth in key emerging markets: Brazil, Indonesia (up 30%), Vietnam (up 40%), and Korea (diaper category up over 20%).

• Success attributed to product differentiation, digital marketing, and best-in-class data management.

• Focus on delivering best products at lowest cost, fueling a virtuous cycle of growth.

• Enhanced flexibility in manufacturing assets, enabling production of both value and premium tiers on the same lines.

• Strategic push to grow underdeveloped categories through targeted marketing and innovation.