3M 2015 Annual Report Download - page 29
Download and view the complete annual report
Please find page 29 of the 2015 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.TableofContents
Year 2015 results:
HealthCaresalestotaled$5.4billion,adecreaseof2.7percentinU.S.dollars.Organiclocal-currencysalesincreased3.7percent,
acquisitionsadded0.8percent,andforeigncurrencytranslationreducedsalesby7.2percent.
Onanorganiclocal-currencysalesbasis:
·Salesgrowthwasbroad-basedacrossmuchoftheHealthCareportfolio,includingfoodsafety,healthinformation
systems,criticalandchroniccare,oralcaresolutions,andinfectionprevention.
·Salesdeclinedindrugdeliverysystems.
·Onageographicbasis,salesincreased8percentinAsiaPacific,6percentinLatinAmerica/Canada,4percentinthe
UnitedStates,and1percentinEMEA.
·Indevelopingmarkets,HealthCareorganiclocal-currencysalesgrew8percent.
Acquisitions:
·AcquisitionsalesgrowthrelatedtotheMarch2015purchaseofIveraMedicalCorp.Iveraisamanufacturerofhealth
careproductsthatdisinfectandprotectdevicesusedforaccessintoapatient’sbloodstream.Inaddition,TreoSolutions
LLC,acquiredinApril2014,providedayear-on-yearbenefit(discussedfurtherinYear2014resultsbelow).
Operatingincome:
·Operatingincomewasflatindollarsat$1.7billion.
·Operatingincomemarginswere31.8percentin2015,comparedto30.9percentin2014,helpedbyportfolio
managementactionsthatarecontributingtohigherproductivityandmargins.
·Acquisitionimpactsreducedoperatingincomemarginsby0.2percentagepoints.
InSeptember2015,3MannouncedthatitwouldexplorestrategicalternativesforitsHealthInformationSystemsDivision(HIS),
whichincludedspinning-off,selling,orretainingthebusiness.InFebruary2016,followinganin-depthexplorationofstrategic
alternatives,theCompanyannouncedthatitmadethedecisiontoretainandfurtherinvestinHIS.
Year 2014 results:
HealthCaresalestotaled$5.6billion,anincreaseof4.5percentinU.S.dollars.Organiclocal-currencysalesincreased5.8percent,
acquisitionsadded0.4percent,andforeigncurrencytranslationreducedsalesby1.7percent.
Onanorganiclocal-currencysalesbasis:
·Salesgrewinallbusinesses,withthestrongestgrowthinhealthinformationsystems,drugdeliverysystems,foodsafety,
criticalandchroniccare,andinfectionprevention.
·Onageographicbasis,organiclocal-currencysalesincreased9percentinLatinAmerica/Canada,8percentinAsiaPacific,
6percentintheUnitedStates,and3percentinEMEA.
·Indevelopingmarkets,HealthCareorganiclocal-currencysalesgrew12percent.
Acquisitions:
·AcquisitionsalesgrowthrelatedtotheApril2014purchaseofTreoSolutionsLLC.Treoisaproviderofdataanalyticsand
businessintelligencetohealthcarepayersandproviders.
Operatingincome:
·Operatingincomeincreased3.1percentto$1.7billion.
·Operatingincomemarginswere30.9percentin2014,comparedto31.3percentin2013,withacquisitionimpactsreducing
operatingincomemarginsby0.3percentagepoints.
·Thegainfromsaleofanon-strategicequitymethodinvestmentbenefitedtotalyear2013operatingincomemarginsby0.3
percentagepoints.
29