Record turnover for 3M
3M was able to raise its turnover by 2.0% in the 4th quarter in comparison with the prior year to USD 7.7 bn (EUR 6.9 bn). Earnings stood at USD 1.66 bn (EUR 1.45 bn) and net profits at USD 1.2 bn (EUR 1.1 bn).
This results in a record turnover amounting to USD 31.8 bn (EUR 28.3 bn) for the year as a whole, 3.1% more than the prior year.
Earnings rose by 7% to USD 6.67 bn (EUR 5.95 bn) and net profits by 6.4% to USD 4.96 bn (EUR 4.42 bn).
According to CEO Inge G. Thulin it was the strong fourth quarter which made the main contribution to the good annual result, with organic growth extending over all divisions and geographical regions. He says that the generated free cash flow will be invested and has also additionally profited 3M’s stockholders.