Investments

Investments remain at a high level

Investments in property, plant and equipment and intangible assets amounted to CHF 173 million in 2025, which is CHF 9 million or 4.9% less than in the previous year. As a percentage of net sales, the investment ratio was 5.5% (previous year 5.9%). The slightly lower investments were due to a planned reduction in the volume of strategic plant expansions compared to the previous year. All important, larger investment projects were carried out as planned.

29% of the total investments were made in capacity expansion. 42% was invested in the modernisation of property, plant and equipment and, hence, the further enhancement in production efficiency. In addition, 18% was used for rationalisation measures relating to property, plant and equipment, while 11% was used to acquire tools and equipment for new product developments.