3M has reported fiscal-fourth-quarter sales of US$8.6 billion, up 0.3 per cent year-on-year.
Sales in the company’s health care division increased 0.7 per cent to $2.3 billion and its consumer division saw an 4.1 per cent bump in sales to $1.5 billion.
3M’s safety and industrial division reported sales of $3.1 billion, a dip of 2.2 per cent while sales in the company’s transportation and electronics division were down 1.5 per cent to $2.3 billion.
“3M delivered a solid fourth-quarter performance—with notable strength in December—as we maintained our relentless focus on serving customers in a challenging external environment,” said Mike Roman, 3M CEO.
“Our team effectively managed supply chain disruptions, made good progress on pricing actions, and controlled costs.”
On a geographic basis, total sales grew 2.1 per cent in the Americas, and decreased 0.2 per cent in Asia Pacific, and 4.5 per cent in EMEA (Europe, Middle East and Africa).
Organic local-currency sales grew 2.2 per cent in the Americas, 1.4 per cent in Asia Pacific, and decreased 1.9 per cent in EMEA.
“As we continue to actively manage our portfolio and improve our operations, we will prioritise investments in fast-growing end markets to drive long-term growth, as well as advance our commitment to sustainability,” said Roman.
As we enter 2022, I am confident we will continue to grow our business and find new ways to apply science to improve lives.”
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