Investments

Lower investments

In 2022, investments in property, plant and equipment and intangible assets amounted to CHF 155 million – CHF 14 million or 8.4% less than in the previous year. As a percentage of net sales, the investment ratio was 4.6% (previous year 4.9%). 38% of the total investments went towards capacity expansion to cope with sales growth. 47% was invested in the modernisation of property, plant and equipment and, hence, in further enhancement in production efficiency. Furthermore, 6% was used for rationalisation measures relating to property, plant and equipment, while 9% was used to acquire tools and equipment for new product developments. All important, larger investment projects were carried out as planned.

The biggest undertakings in the reporting year were expansion and modernisation projects at the plants in Lichtenstein (DE) and Pfullendorf (DE) as well as at the ceramics plant in Ekenäs (FI). Additionally, significant investments were again made as part of the expansion in capacities for the new FlowFit piping system at the plant in Rapperswil-Jona (CH). The project for building a new information centre at the site in Pfullendorf was also started.