3M 2005 Annual Report Download - page 23

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(Millions) 2005 2004 % change
Net sales $2,292 $2,125 7.9%
Operating income $ 553 $ 491 12.6%
Who we are Helping to protect workers against
airborne contaminants. Making passports and
driver’s licenses more secure. Helping manufacturers
know when their products have been tampered
with. Keeping commercial establishments clean and
well-maintained. Making pedestrians more visible
to drivers at night. Keeping outdoor enthusiasts
comfortable in cold weather. Providing roofing
granules that make asphalt shingles durable and
algae-resistant. Making windows more efficient
and reducing the dangers of flying shards of
glass caused by storms, flying objects or bomb
blasts. Drawing on 3M’s technology platforms,
our businesses do all of this and more.
2005 Highlights
•Increased sales 7.9 percent, with solid growth in
our occupational health and environmental safety,
industrial mineral products, commercial care, and
building safety solutions businesses.
•Increased operating income 12.6 percent
and operating profit margins to 24.1 percent.
•Significantly expanded our presence in large and
growing markets, including double-digit growth in
the Asia Pacific area and Latin America.
•Through the tremendous commitment of our sales
organization, manufacturing facilities and channel
partners, responded quickly to the devastation
wrought by hurricanes, the tsunami and other
disasters. We supported cleanup, recovery and
rebuilding efforts with personal safety products,
window glazing protection and more.
(Millions) 2005 2004 % change
Net sales $1,772 $1,674 5.8%
Operating income $ 461 $ 426 8.1%
Who we are We help make autos, aircraft, boats
and other vehicles more durable, fuel-efficient and
less costly to manufacture. Our abrasives, adhesives,
tapes and fasteners help our customers produce
stronger, lighter body parts, and streamline main-
tenance and repair operations. Our connectors and
lighting panels contribute to improved electrical
systems; and our durable trim, graphics and films
beautify vehicles and help protect auto paint from
chipping. We’re a leader in the automotive
aftermarket, producing a wide range of quality
products for service and repair, and for great-
looking refinishing and detailing work.
2005 Highlights
•Continued to outpace the growth of our markets,
with solid sales gains in the automotive OEM, auto
body repair, marine and aerospace industries.
•Increased operating income 8.1 percent
and operating profit margins to 26.0 percent.
•Added value for our customers through a steady
stream of innovative new products, including
structural adhesive films for the aerospace industry,
lighting systems for precision paint matching by
auto body repair professionals, and improved paint
protection films.
•Entered into a joint venture with an Austrian-based
company through which 3M will market flat flexible
wiring systems for automotive interior applications –
a high-growth segment.
unique strengths
ingenious solutions 21
Transportation Business
Safety, Security and Protection Services Business