In 2017, investments in property, plant and equipment and intangible assets amounted to CHF 159.0 million, CHF 19.9 million or 14.3% more than in the previous year. As a percentage of net sales, the investment ratio was 5.5% (previous year 5.0%). All larger investment projects were carried out as planned.
Expenditures for property, plant and equipment and intangible assets
(in CHF million)
|In % of net sales||4.9||5.0||5.7||5.0||5.5|
The bulk of investments went toward machinery, building conversions and new building projects, and the procurement of tools and moulds for new products. The biggest individual undertaking was the conversion and new-build project at the site in Langenfeld (DE), with the ground-breaking ceremony taking place in September 2017. Additionally, investments were made in important development projects, the expansion of production capacity, and the optimisation of production processes. Most of the investments in expanding the logistics centre in Pfullendorf (DE) – a facility that commenced operations in the first quarter of 2017 – already date back to previous years.
In 2017, 57% of total investments, or CHF 90.6 million, went towards expanding capacity, 25% or CHF 40.7 million was invested in the modernisation of property, plant and equipment, 9% or CHF 14.0 million was used for rationalisation measures relating to property, plant and equipment, while 9% or CHF 13.7 million was used to acquire tools and equipment for new product developments.