Capital expenditures

In the year under review, capital expenditures on tangible and intangible assets — net of capitalized development costs — rose by €22 million to €74 million (prior year: €52 million). Consequently, the capital spending-to-sales ratio advanced to 3.4 per cent (prior year: 2.6 per cent). The lion’s share of capital expenditures was allocated to the construction of the factory in Landsberg near Halle (Saxony-Anhalt) and an even split between the expansion of the production sites in Norderstedt (Schleswig-Holstein) and Moosburg (Bavaria). In addition, Jungheinrich invested in the continued expansion of its sales companies — above all outside Germany.