NEOPOST - 2018 Registration document
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Neopost group activity
Organizational structure
Investments
Excluding acquisitions, Neopost invested 87,9 million euros in 2018 compared with 98.8 million euros in 2017 and 82.2 million euros in 2016.
Details of investments are shown in the table below:
(In millions of euros)
31 January 2019
31 January 2018
31 January 2017
Acquisition of software
2.6
3.8
4.4
Capitalisation of development expenses
29.2
27.9
24.9
Acquisition of machinery and equipment
4.3
3.6
1.8
Rented equipment
37.0
52.4
33.4
IT implementation costs
0.0
1.4
5.2
Other investments
14.8
9.7
12.5
TOTAL
87.9
98.8
82.2
The breakdown of investments by geographical area is the following:
(In millions of euros)
31 January 2019
31 January 2018
31 January 2017
Europe
48.1
48.4
54.0
North America
26.5
23.6
24.7
Asia-Pacific & rest of the world
13.3
26.8
3.5
TOTAL
87.9
98.8
82.2
Regarding acquisitions, the Group invested, net of divestments, 26.3 million euros in 2018, mainly linked to the investment in Parcel Pending and the divestment of Satori Software compared with 23.4 million euros in 2017 and 24.0 million euros in 2016. These investments and acquisitions were financed either with Group cash or with existing credit lines.
Neopost is setting an envelope dedicated to bolt-on acquisitions amounting to 100 million euros, net of divestments, on average per year over the 2019-2022 period. In addition, Neopost aims at spending on average 100 million euros per year in capital expenditure which would be mostly allocated to Major Operations.
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REGISTRATION DOCUMENT 2018 / NEOPOST
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