3M reports Q4 and full 2021 performances

3M headquarters (Photo credit: 3M)

3M has announced their performance for Q4 and the whole of 2021. In particular, the total sales for the healthcare segment, which includes oral health, grew by 0.7% to US$2.3 million in Q4 2021, and the segment’s organic local-currency sales grew by 1.6% in the same period. The segment’s operating income was $536 million, a decrease of 1.6% year-on-year, and operating margins were 23.6%.

On a geographic basis, total sales in Q4 2021 grew 2.1% in the Americas, and decreased 0.2% in Asia-Pacific, and 4.5% in Europe, Middle East and Africa (EMEA). Organic local-currency sales grew 2.2% in the Americas, 1.4% in Asia-Pacific, and decreased 1.9% in EMEA for the same period.

For the whole of 2021 results, 3M recorded a 9.9% increase year-on-year to $35.4bn. Organic local-currency sales increased 8.8% while acquisitions, net of divestitures, decreased sales by 0.5%. Foreign currency translation increased sales by 1.6% year-on-year.

“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 chairman and CEO. “Our team effectively managed supply chain disruptions, made good progress on pricing actions and controlled costs.”

He concluded: “Throughout 2021 we performed well, delivering full-year sales growth of 10%, robust cash flow and a strong increase in EPS. We also returned significant cash to shareholders, reduced debt and helped the world respond to COVID-19. 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. As we enter 2022, I am confident we will continue to grow our business and find new ways to apply science to improve lives.”