Financial Position
Capital Expenditure
Capital expenditure by division
1
5
2
3
14.1 %
25.3 %
42.6 %
2.9 %
4 15.1 %
in € million 2015 2016 Δ %
1 BYK Additives & Instruments 43.2 52.0 21
2 ECKART Effect Pigments 19.3 17.2 - 11
3 ELANTAS Electrical Insulation 10.7 30.9 > 100
4 ACTEGA Coatings & Sealants 12.0 18.4 54
5 Holding 0.4 3.6 > 100
Total 85.6 122.1 43
In the 2016 fiscal year, ALTANA invested a total of € 122.1 mil-
lion, € 36.5 million or 43 % more than in the previous year
(€ 85.6 million). The investment ratio, or the ratio of invest-
ments to sales, was 5.9 % and thus at the upper end of the
target range of 5 % to 6 % we had forecast for 2016.
Of the total capital expenditure, € 106.4 million were
invested in property, plant and equipment (previous year:
€ 74.5 million) and € 15.7 million in intangible assets (pre-
vious year: € 11.0 million). The investments in intangible
assets resulted from the expansion of the ERP systems in the
BYK, ECKART, and ACTEGA divisions, as well as from the
capitalization of software licenses and intangible assets within
the framework of the acquisition of business activities.
In the last fiscal year, the regional distribution of investments
shifted toward Asia, and especially China. Asia’s
share of Group investments increased to 25 % (previous year:
6 %), primarily due to the acquisition of a manufacturing
site by the ELANTAS division. But as in the previous year, the
largest share continued to be invested in Group sites in
Europe (57 % compared to 67 % in 2015). The Americas
region accounted for 18 % of our worldwide investments
(previous year: 27 %).
In 2016, the BYK division invested a total of € 52.0 million
(previous year: € 43.2 million), mainly to expand pro-
duction and laboratory capacities as well as the ERP systems.
An important individual project encompassed the purchase
of a piece of property in Shanghai in order to bundle the re-
gion’s sales and research activities at one site in the future.
Capital expenditure ALTANA Group (in € million)
50 40
2012 90
2013 94
2014 90
2015 86
2016 122
Germany Abroad
36 58
32 58
44 42
51 71
58 Business Development