Record profits for shareholders at 3 M
The 3M Group from St. Paul/ Minnesota attained a turnover of USD 7.7 bn (EUR 7.0 bn) in the 2nd quarter, 5.5% down on last year.
Unfortunately the exchange rate trends have been unfavourable for 3M and therefore sales have fallen by 7.3%. Earnings amounted to USD 1.8 bn (EUR 1.6 bn).
Inge G. Thulin, the president of 3M, was satisfied with the result, because organic growth had been made in all the geographical regions in which the group operates despite the sometimes adverse circumstances.
Overall USD 646 m (EUR 591 m) was paid out in dividends to shareholders and the group’s own shares to a value of USD 1.7 bn (EUR 1.6 bn) were bought back.
The individual divisions had the following turnover figures:
Industrial: USD 2.6 bn (EUR 2.4 bn)
Safety and graphics: USD 1.4 bn (EUR 1.3 bn)
Health Care: USD 1.4 bn (EUR 1.3 bn)
Electronics and Energy: USD 1.3 bn (EUR (1,2 Mrd. EUR)
Consumer: USD 1.0 bn (EUR 0.9 bn)