EXHIBIT 99.2
Excerpts from presentation materials to be delivered on November 6, 2001 at the
Goldman Sachs Global Capital Goods Conference by Marshall O. Larsen, President
and Chief Operating Officer of Goodrich Corporation's aerospace business.
Part of this presentation contains forward-looking statements that involve risks
and uncertainties, and actual results could differ materially from those
projected in the forward-looking statements. The risks and uncertainties are
detailed from time to time in reports filed with the Securities and Exchange
Commission, including but not limited to the last section of the Management's
Discussion and Analysis entitled "Forward-Looking Information is Subject to Risk
and Uncertainty" contained in the company's Annual Report on Form 10-K and in
other filings.
GOODRICH: TOP TIER AEROSPACE COMPANY
INDUSTRY CONSOLIDATOR: COMPLEMENTARY ACQUISITIONS
2001:
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- Hella Lighting
- Humphrey, Inc.
2000:
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- Raytheon Optical Systems
- Autoliv OEA Aerospace unit
- Corning OCA
- Engineered Products Co.
- Advanced Creations, Inc.
- IBP Aerospace
- Barnes Engineering
Sales:
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2000 $ 18 million
2001 est. $ 217 million
Excellent Track Record of Identification & Integration
GOODRICH - VALUE CREATION ROADMAP
[Presentation materials contains a slide showing the following information]
GOAL - 15% Annual EPS Growth. Factors:
- SALES GROWTH: 10 - 12% Annually. Factors:
- ORGANIC GROWTH: 6 - 7% Annually
- R&D: New products and sales growth: 4 - 5% of Sales
- COMPLEMENTARY ACQUISITIONS: 4 - 5% Annually
- SEGMENT OPERATING MARGINS: 15 - 16% of Sales. Factors:
- COMPLEMENTARY ACQUISITIONS: Synergies
- PRODUCTIVITY IMPROVEMENT: 3 - 4% Annually
- R&D INVESTMENT: New products and sales growth: 4 - 5% of Sales
- FREE CASH FLOW: Greater than 80% of Net Income.
- CAPITAL STRUCTURE ENHANCEMENTS: Debt/Equity Mix.
OBJECTIVE: SUSTAINABLE VALUE CREATION OVER THE LONG-TERM
EXPECTATIONS FOR GOODRICH 2002 SALES
YTD 3Q01
GOODRICH AVG. EXPECTED
MIX 2002 GROWTH
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Boeing & Airbus OE Production 31% (25%)
Regional, Business & GA OE 7% (0-10%)
Military Aircraft OE & Aftermarket 17% 15%
Space 2% 15%
Commercial A/C Aftermarket 32% (10-20%)
Heavy Airframe Maintenance 6% 5%
IGT & Other 5% 15%
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Expected Organic Growth (7-11%)
New Products/Completed Acquisitions 1-2%
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Goodrich Aerospace Total (5-10%)
2001 - 2002 OUTLOOK - EIP AS DISCONTINUED OPERATION
2000 to
2001 2002
Actual 2000 Outlook 2001 % Change Outlook
----------- ------------ -------- -------
SALES ($B) $3.7 Approx. $4.1 +10-12% Minus 5%
to 10%
SEGMENT OPERATING MARGINS 16.0% 15% - 15.5% 15 - 15.5%
OPERATING MARGINS 14.6% Around 14%
DILUTED E.P.S.
- Excl. special items, EIP & $2.41 $2.65 - 2.75 +10 to 14% Minus +/-10%
PM as discontinued
2002 OUTLOOK PROJECTS RESULTS WELL ABOVE FIRST CALL CONSENSUS AS OF 10/24/01