3M 2004 Annual Report Download - page 18

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16 innovate, grow, deliver
Every day, 3M people find ways to make
life better and easier for people around
the world. We serve customers through
seven business segments, which
increase speed and efficiency by sharing
technological, manufacturing, marketing
and other resources. Our businesses
produce innovative products, hold leading
global market positions and generate
solid returns on investment.
CONSUMER AND
OFFICE BUSINESS
Who we are Supplying an array of products that keep homes cleaner,
offices organized and buildings well-maintained, we’re home to
some of the world’s best-known brands, including Scotch®
, Post-it®
,
Scotch-Brite®and Scotchgard™
. We’ve created many product categories,
and we’re a leader in the markets we serve. Our recent product break-
throughs include Post-it®Super Sticky Notes in unique shapes and
colors – ideal for use on a broad range of non-paper surfaces; and a
new family of Scotch-Brite®cleaning products, which give consumers
the right scrubbing power for a host of cleaning jobs and have given
us entry into a large and growing market.
2004 Highlights
• Increased sales 9.7 percent to $2.9 billion.
• Increased operating income 17.9 percent and operating profit
margins to 18.9 percent.
• Posted double-digit sales growth in our construction and home
improvement markets, home care, office supplies, and stationery
products businesses.
• Received Supplier of the Year award from Wal-Mart, and special
recognition for superior performance from Sam’s Club and Staples, Inc.
• Used Six Sigma with customers globally to improve supply chain
efficiencies, customer service and growth.
(Millions) 2004 2003 % change
Net sales $2,861 $2,607 9.7%
Operating income $ 542 $ 460 17.9%
3M AT A
GLANCE