3M UNITED KINGDOM PUBLIC LIMITED COMPANY
Company Information
- Company Number
- 01123045
- Registered Address
- 3m Centre, Cain Road, Bracknell, Berkshire, RG12 8HT
- Status
- Active
- Employee Count
- 1768.0
- Turnover
- 644627000.0
- EBITDA
- 41598000.0
Additional Details
- Website
- https://3m.com
- Company Type
- Public limited Company
- Incorporated On
- 17 July 1973
- Nature of Business
- 20301 - Manufacture of paints, varnishes and similar coatings, mastics and sealants$23910 - Production of abrasive products$32990 - Other manufacturing not elsewhere classified
- Industries
- Supply Chain,Manufacturing And Commerce Models
- Region
- South East
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 60 | 34% | 20% | 46% | 14% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 86 | 20% | 26% | 54% | 12% |
| 01 Jul 2022 - 31 Dec 2022 | 07 Feb 2023 | 77 | 17% | 33% | 49% | 15% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Sept 2022 | 80 | 24% | 39% | 37% | 26% |
| 01 Jul 2021 - 31 Dec 2021 | 24 Jan 2022 | 105 | 30% | 42% | 29% | 23% |
| 01 Jan 2021 - 30 Jun 2021 | 02 Aug 2021 | 98 | 28% | 50% | 22% | 19% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 98 | 28% | 50% | 22% | 19% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 75 | 27% | 54% | 19% | 19% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 63 | 28% | 54% | 18% | 23% |
| 01 Jan 2019 - 30 Jun 2019 | 12 Jul 2019 | 55 | 26% | 54% | 20% | 22% |
| 01 Jul 2018 - 31 Dec 2018 | 22 Jan 2019 | 53 | 30% | 54% | 16% | 21% |
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 46 | 33% | 54% | 12% | 24% |
Company Summary
3M United Kingdom Public Limited Company is a multinational conglomerate corporation that operates in various industries such as healthcare, industrial, consumer, and transportation markets
The company was founded in 1902 and is headquartered in Bracknell, Berkshire, United Kingdom
Sustainability is a key focus for 3M United Kingdom, with the company aiming to reduce its environmental impact and promote sustainable practices
This includes reducing energy consumption, waste, and water usage, as well as increasing the use of renewable energy sources
3M also supports various community and education initiatives to promote sustainability
Their wide range of products and services include innovative solutions for healthcare, such as medical tapes, wound care dressings, and infection prevention products
In the industrial sector, 3M offers products such as adhesives, abrasives, and electrical products
They also provide consumer products like office supplies, home improvement products, and personal care items
In the transportation market, the company offers solutions for automotive, aerospace, and marine industries
Some key people in 3M United Kingdom include the company's President and Managing Director, Paul Keel, who has been with 3M for over 30 years, and the company's Sustainability Director, Tim Fleming, who oversees the company's sustainability efforts
The company's website address is www.3m.co.uk, where customers can find more information about their products and services, as well as their sustainability initiatives
3M United Kingdom's registered office address is 3M Centre, Cain Road, Bracknell, Berkshire, RG12 8HT, United Kingdom
Company Review
Trend Analysis
The data shows a fluctuating trend in the time taken for 3M UNITED KINGDOM PUBLIC LIMITED COMPANY to pay invoices to suppliers. From 2018 to 2021, there was a consistent increase in the average time to pay, with a sharp increase in 2021. However, in 2022 and 2023, there was a decrease in the average time to pay, although it still remained higher than the initial period.
Volatility Analysis
The data also shows a high level of volatility in the percentage of invoices paid within 30 days. This percentage fluctuated between 26% and 34% throughout the analyzed period. Similarly, the percentage of invoices paid later than 60 days also had a high level of volatility, ranging from 12% to 54%. This indicates a lack of consistency in the payment process of 3M UNITED KINGDOM PUBLIC LIMITED COMPANY.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
3rd Party vendors - 60 days from date of invoice. Intercompany - EOM, 15 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
120
Dispute Resolution Process
We have a dedicated team that handles vendor queries - 3M UK AP Helpdesk. For any concerns raised by the vendors, the AP Helpdesk will work internally with the relevant teams to provide a solution, contact details Telephone: 01344 857377, email: 3mukaphelpdesk@mmm.com
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
✅
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
