3M Sales Up 3.2% in 2013 - Modern Distribution Management

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3M Sales Up 3.2% in 2013

Industrial segment sales increased 5.8 percent in the fourth quarter, the highest-growth segment.

St. Paul, MN-based 3M (NYSE: MMM) reported sales for 2013 were $30.9 billion, an increase of 3.2 percent over the prior year. Organic local-currency sales grew 3.4 percent. Profit grew 4.8 percent to $4.7 billion.

For the fourth quarter, sales were $7.6 billion, an increase of 2.4 percent over the prior-year period. Organic local-currency sales grew 3.4 percent. Profit grew 11.3 percent to $1.1 billion.

Organic local-currency sales growth for the fourth quarter was 5.8 percent in industrial, 4.8 percent in safety and graphics, 3.6 percent in health care, 1.3 percent in consumer and 0.4 percent in electronics and energy.

On a geographic basis, organic local-currency sales grew 4.5 percent in the U.S., 3.4 percent in EMEA (Europe, Middle East and Africa), 3.3 percent in Asia Pacific and 2.2 percent in Latin America/Canada.

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