The main indicators of the first quarter.the
- Sales amounted to 8.2 billion dollars. USA, which is 2.6% less than in the second quarter of 2018. the
- Organic sales in local currency decreased by 0.9% compared with last year's results the
- Net profit made up 1.92 dollars. The United States, based on the action against 3.07 USD. USA in 2018. The index fell by 37.5% compared to the same period last year. the
- Adjusted earnings per share to 2.20 dollars. USA compared with 3,07 USD. USA in 2018. The index decreased by 28.3% compared to last year.
- Net profit for the second quarter of 2019 does not include the cost in non-monetary form in the amount of 0.28 USD. The United States, based on the action on deconsolidation of subsidiaries in Venezuela. the
- net profit for the second quarter of 2018 includes profit from the sale of assets in the amount of 0.48 USD. U.S. per share, excluding restructuring costs;>
- 3M confirmed its expectation for organic growth in 2019 and adjusted earnings forecast for the year.
Announced the acquisition of the company Acelity Inc. It is expected that the transaction will be closed вIV sq 2019 the
“I am encouraged by the progress and results of work of our company in the second quarter, — said Mike Roman, President and CEO of 3M. — We have made progress in the conditions of continuing slow growth in key markets. We effectively managed costs and increased free cash flow. Moving forward, we remain focused on improving operating activities, investments in the future and achieve results for our customers and shareholders”.
the results of the second quarter of 2019.
According to the results of the second quarter of 2019, the sales volume decreased by 2.6% to 8,2 billion. USA. Sales in local currency fell by 0.9%, while acquisitions, excluding asset sales, increased the final result by 0.1%. Fluctuations in currency exchange rates decreased total net sales by 1.8% compared with the second quarter of 2018.
sales of 3M's business groups:
Health care — an increase of 5.8%; Consumer goods — a decline of 0.5%; Transportation and electronics — a 2.9% decline; the Security and the industry — a decline of 9.0%. In local currencies the sales growth was registered in the groups Health (3.5%) and Consumer goods (0.9 per cent); the decline in the groups Transport and electronics (1.2%) and Safety and manufacturing (5.0 per cent).
In the second quarter of 2019, the net profit per share amounted to us $ 1,92. USA, a decrease of 37.5% compared to the same period last year. During the second quarter of 2019, the company has deconsolidate its Venezuelan subsidiary, which led to costs in non-monetary form in the amount of $ 162 million. USA or 0.28 dollars. The United States, based on the action. Excluding these charges, adjusted net income amounted to 2.20 dollars. U.S. per share, a 28.3% less compared to the second quarter of 2018, as indicated in part “Additional financial information unrelated to the measurement of net profit" (Supplemental Financial Information Non-GAAP Measures).
Adjusted earnings for the second quarter of 2019 includes expenses in the amount of 0.21 USD. U.S. per share from holding company restructuring and other actions and a tax credit in the amount of 0.07 USD. U.S. per share, which managed to get as a result of granting the status of “prepared to sell” the business of gas detection and flame less current expenses on the transaction. In the second quarter 2018 and the adjusted net profit amounted to 3,07 USD. U.S. per share, which included net profit in the amount of 0.48 USD. The US per share in connection with the sale of the assets on the communications market, excluding restructuring costs.
the company's Operating profit in the second quarter of 2019 amounted to $ 1.7 billion. USA, with an operating margin of 20.8%. Here also takes into account the restructuring costs and other expenses in the amount of 112 million dollars. The US, in percentage terms the impact on operating margin is 1.4%.
Operating cash flow of the company amounted to $ 1.7 billion. The US, aided by the translation of 110% of net income in free cash flow, as indicated in part “Additional financial information unrelated to the measurement of net profit" (Supplemental Financial Information Non-GAAP Measures).
For the quarter, 3M paid out to shareholders of 830 million dollars. USA as cash dividends and repurchased own shares in the amount of $ 400 million. USA.
the Updated forecast for the year 2019
the Company has updated the forecast for 2019 in terms "net profit" to reflect costs 3M in the amount of 0.28 USD. USA on deconsolidation of its Venezuelan subsidiaries in the second quarter of 2019. Thus, the company expects net profit will range between of 8.25 and $ 8.75 USA vs the previously expected 8,53-of 9.03 USD. The United States, based on the action at the end of 2019.
3M has kept its forecast for the indicator "adjusted earnings" in the range from 9.25 to 9.75 USD. USA per share. 3M also confirmed that sales growth in local currencies range from -1% to 2%, as predicted earlier. Preserved the forecast and return on investment, which will be from 20% to 22%, and the conversion of available funds in the range of 95-105%. Additional information is contained in part “Additional financial information unrelated to the measurement of net profit" (Supplemental Financial Information Non-GAAP Measures).