HUGO BOSS AG’s total capital expenditure was EUR 34 million
In the past fiscal year, the investment in property, plant and equipment and intangible assets totaled EUR 34 million and was thus 13% below the prior-year level (2013: EUR 39 million).
Intangible assets mainly comprise software. The addition of EUR 21 million (2013: EUR 13 million) was mainly attributable to investments in software and user rights in connection with the continuous enhancement of the ERP system, comprising the industry solution SAP AFS and SAP Retail for the Group’s own retail business.
The additions to property, plant and equipment of EUR 13 million (2013: EUR 26 million) partly related to additions of land and buildings in Metzingen. In addition, the opening of two new retail stores in Berlin and Dortmund, together with the takeover of a shop-in-shop in Münster that had previously been operated by wholesale partners in Germany, led to additional capital expenditure.
Existing obligations from investment projects that have commenced are reported in the annual financial statements of HUGO BOSS AG under “Other financial obligations” and as of December 31, 2014 amount to EUR 1 million (December 31, 2013: EUR 2 million).