CHD Business Model 2003 - 2005
Overall Objective – EPS Growth
EPS Growth Elements
Organic Sales Growth
Gross Margin 100 bp’s/year
Increased Marketing / R&D
SG&A (1% Below Sales Growth)
Acquisition
ARMKEL Buyout (Potential)
Operating Profit
Debt Reduction
Financial & Tax Planning
EPS Growth
12.5%-15.0%
3-4%
10%
(6-8%)
1%
3%
0-3%
11-13%
1%
1%
12.5% - 15%
Memo: Excludes potential F/X gain 1-2%/year
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