Chapters
Annual Report 2018

Capital expenditure

Capital expenditure not related to acquisitions increased by €13 million to €210 million (5.6% of revenue) in 2018, compared with €197 million (5.7% of revenue) in 2017. The majority of capital expenditure is dedicated to optimizing the store network.

The following table shows the capital expenditure not related to acquisitions.

Capital expenditure

in millions of EUR

2018

2017

Capital expenditure (not related to acquisitions)

210

197

Store capital expenditure

162

140

Non-store capital expenditure

48

57

Store capital expenditure increased from €140 million in 2017 to €162 million in 2018 and primarily reflects the improvement of existing stores through renovations, refurbishments and rebranding including the further implementation of our standardized store concept, as well a record number of new store openings. Non-store capital expenditure of €48 million in 2018 decreased compared to €57 million in 2017 due to a higher number of ERP system roll-outs in the previous year.