Knauss Good morning, everybody, and welcome to our new innovation center out here, and we really appreciate you folks making the effort to get out here.
I know a lot of you are, obviously, from the East Coast. And hopefully, some of you are going to get a chance to enjoy this great Bay Area weather over the weekend. But I think we got a very different and exciting day for you today, something that you don't typically see in one of these analyst presentations with all the capabilities you'll see later this afternoon.
But let me take you through what the agenda looks like for today. So from 9 to noon, and we've got a break in the middle of this, we'll go through the presentation. And then we'll have lunch outside here between the 2 buildings. We've got a little barbecue set up for you. I'll be serving, so please come to my station. We've got 6 different stations.
Four of them are U. One is a hospital room, which we'll then take you through what we're doing with Professional Products in the Healthcare area, and then one is Burt's Bees -- a Burt's Bees stop that shows you what we're doing internationally with Burt's Bees now that we're in over 40 countries with Burt's Bees. We'll go through that. We'll get you back to the hotel around 4: The buses will leave here 3: In your packets, there is a Wi-Fi connection.
This the whole campus is Wi-Fi enabled. So if you have any issues with that, just ask some of the folks in the back. There are also, as we go to lunch and after the interactive session, if you need a room for a few minutes, there are some meeting rooms we can put you in as well. So let me -- then, we got the dinner social tonight at the Aquarium. This is the morning agenda.
So I'll take you through a little bit of a history lesson on Centennial, just a few slides to update you. Now that we turned in May, obviously, Linda and I were talking about this earlier.
It was may of '07 when we were in New York and took you through the Centennial Strategy. Obviously, we've had updates along the way like May of last year, but this obviously, is the kickoff of the strategy. Those 3 enterprise choices you see listed up there, we're going to go through those in depth this morning and then show you how those cascade into our 3 businesses: Retail, PPD and then International.
And then as I said, we'll take you through the innovation at the end of this presentation. Wayne will set up what we're going to do for the afternoon. So with that, we also have 15 of our senior leaders, who are not representing. They're peppered out throughout the room here today. So basically, you've got the entire executive committee and the strategy group for the company here all day, and they'll be there this evening as well.
They've, of course, all been instructed heavily in Reg -- RFD, so -- but you've got a good chance to meet with the senior leadership of the company today.
Safe Harbor statement, I think I don't have to dwell on this. Obviously, we're going to show you a lot of historical facts, but we are obviously putting projections out.
And that was the F that just flew over. So let me -- before we show you a little bit of a video on Centennial, I thought given that we did conclude our first years in May, there are some interest things we dug out of the archive that I thought you'd be interested in.
So let's go ahead and roll that -- roll the video. Knauss rest of the presenters. Centennial, we thought was extremely successful. I'll show the report card we built for ourselves around Centennial. The strategy for , we think it keeps us with the ability to stay in the top third. If you look at the last 5 years, we were in the top third of our financial peer set, and I'll show you that data in a second. And we'll get, obviously, very heavily into these 3 enterprise choices that we're making.
And then innovation is going to be the key to this thing as we move forward, and that's why we wanted to lead this presentation into your ability to see the capabilities that have been built out here. So on the Centennial Strategy, the mission has not changed. Those 2 objectives around maximizing EP and then building big-share brands in mid-sized categories, no different there. The company stays on that mission and those objectives.
And those 4 strategies, we first showed you those in May of ' Now obviously, the strategic imperatives and the tactics around those strategies have evolved, but those 4 broad strokes, 4 broad choices remain in place.
If you think about the process we went through in Centennial, this is the same process we're using for These are the 4 questions we ask ourselves: Have the goals and aspirations changed? Are -- is the participation strategy changing in terms of where we play by category, by channel, by country? How do we win? What are the capabilities we're really focused on to enable us to win going forward? And then how do we configure the business in terms of the structure and processes we use?
So let me take you through a little bit of a report card on each of those coming out of Centennial. So the goal and aspiration there was to maximize economic profit across channels and countries and categories.
The recession, we were in the high singles but the recessionary periods, especially FY '09 and '10, obviously, slowed that down. But we've picked EP, and I think a lot of you, we've been through this why EP, we believe, is the best single metric or true north with the company. I think there's not another company -- there's not any company out there that can't recognize the fact that they've got a return above their cost of capital.
We think that's the most robust measure. And we think that's what really will continue to drive our decisions and choices as we move forward into If you look at where to play, we have reshaped the portfolio. Obviously, the acquisition of Burt's Bees in the fall of '07, that was 6 years ago. And we'll show you the progress we're making there. And I think that's one of the true growth engines of the company going forward, and we'll show you that.
If you think about how to win, it really is the 3D model and focusing innovation not just on new products and new packages, but on Desire, which is how you communicate with the consumer; Decide, how you interact with customers at retail, whether they're in a brick setting or on a click setting; and then of course, Delight, which was we really anchored ourselves in product superiority 6. And we'll show you an update on that. And of course, cost savings is a big component of what we do. We've averaged at about basis points a year over the last 7 or 8 years.
So how to win looks good. We continue that configuration today. So there's much more of a global look at the company today. That's gone extremely well, and that bodes well for our ability to grow margins in International given the insight that gives us around things like working capital, for example.
So if you look at the bottom line, if you will, all right, that's nice. What happened with results? If look at top line growth, this is the CAGR, about 2.
We've more than doubled the dividend in the last 6. So we obviously feel good about our ability to get real returns into our -- to our shareholders despite pretty tough economic times. So that's a bit of a report card. When you think about as we go forward into , we showed you this graphic in May of last year in New York that this is what we call our Rosetta Stone if you will.
And in terms of understanding this business, U. Professional Products is obviously a fast-growing adjacency. And then International, we still believe that we've got a strong International business in most of our countries. We obviously have challenges in Venezuela and Argentina. We're going to take you through what we're doing there.
We were down in Argentina, Peru and Colombia last week, and we'll give you a little bit more of a current report out on how it's going in those countries. While you can see with -- we expect to get 1.
Professional Products, this is an engine that's on fire. And of course, the EBIT margin improvement is what we're focused on as well, 25 to 50 bps year-after-year. When you look at the environment -- before I hand it off to Benno, start getting into the 3 enterprise choices that we've made, when you look at the environment we're operating in today versus where we were 6 years ago, obviously, we've got categories that are stable.
They're recovering slowly but certainly not on fire, fairly mature in this country, growing at 0. Technology, obviously, with folks with mobile devices now, a much more empowered consumer; and then the multi-cultural consumer base. So already, this country is really exploding that way, and that's a trend we are certainly focused on capitalizing on. If you think about the 4 consumer megatrends we talked to you in New York about 4 years ago, 3 of these 4 are the same words you saw 6.
Affordability, obviously, was critically important. Fragmentation is new language.