2019-3M-Annual-Report.Pdf
Annual Report 2019 Fellow shareholders, Everything 3M does is guided by our vision: 3M Technology Advancing Every Company 3M Products Enhancing Every Home 3M Innovation Improving Every Life This vision resonates deeply with our 96,000 employees around the world, and helps drive our purpose as an enterprise. Every day we use science to solve problems and improve lives, and we are committed to delivering value for all of the stakeholders who have placed their trust in us: our customers, shareholders, employees, communities and Mike Roman business partners. 3M Chairman of the Board and Chief Executive Officer 12 2019 Performance Transforming for the future Throughout 2019 3M faced declines in key end Beyond fi nancial results, I view 2019 as a fundamentally markets — specifi cally China, automotive and signifi cant year for 3M as we implemented major electronics — which represent approximately 30% change to position us for the future. of our total sales. In the face of these challenges, I am encouraged how our team stepped up our execution, In last year’s Annual Report, I wrote about the strength made improvements to our operations and drove and vitality of the 3M Value Model. Our company strong cash fl ow as we moved through the year. has deep competitive advantages that we leverage across our businesses — unique technology platforms, For the full year we posted organic growth of -1.5%, advanced manufacturing, leading brands, and global along with earnings of $7.81 per share, or $9.10 on an capabilities — all of which make 3M greater than the adjusted basis.
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