Innovation and key investments

Several development projects continued in 2021. In the year under review, a total of CHF 6.6 million (prior year: CHF 6.5 million) was invested in the development or enhancement of new products or product platforms. These figures include capitalized research and development expenses, personnel expenses, material costs and other operating expenses, and represent 2.3% of net sales (prior year: 2.5% of net sales). This does not include daily innovation activities, which are triggered by customer projects and are required to develop new specific assembly or machining processes.