PPE and cleaning sales compensate for decline in office supplies.

 

The scale of response to the COVID-19 pandemic has been reflected in 3M’s second quarter results announcement with the company reporting “robust cash flow” despite “near-term challenges”.

 

3M’s global sales in the three months to the end of June fell by more than 13 per cent to US$7.2 billion, reflecting a varying level of demand for 3M’s diverse product range.

 

Total sales in the Asia-Pacific region declined by 8.5 per cent.

 

Categories such as personal safety, home improvement and general cleaning were strong while other end markets such as automotive and office supplies continued to experience declines.

 

Second quarter sales at the stationery and office division were down 25 per cent to US$263 million. 

 

Revenue at 3M’s personal safety unit was up by around 20% to US$1.1 billion.

 

The company said it plans to manufacture two billion respirator masks in 2020, three times more than it did in 2019.

 

The company also filed 18 lawsuits in relation to its respirators and secured removal of more than 7000 counterfeit websites and more than 10,000 false and deceptive social media posts.