Notes to the Financial Statements Hilti Corporation (6) Financial investments in CHF million Share- Loans to Other Total holdings Group financial companies investments Cost 2018 Opening balance at January 1, 2018 1,852.5 32.8 20.9 1,906.2 Currency translation adjustment – – – – Additions 59.7 – – 59.7 Disposals (0.1) (6.3) (2.3) (8.7) Closing balance at December 31, 2018 1,912.1 26.5 18.6 1,957.2 Accumulated valuation allowance 2018 Opening balance at January 1, 2018 (53.5) – – (53.5) Currency translation adjustment – – – – Additions – – – – Disposals 5.2 – – 5.2 Closing balance at December 31, 2018 (48.3) – – (48.3) Net book values at December 31, 2018 1,863.8 26.5 18.6 1,908.9 Net book values at December 31, 2017 1,799.0 32.8 20.9 1,852.7 A list of Group companies, directly or indirectly held by Hilti Corporation, is included in note (44) of this Financial Report. Pursuant to Article 1094 (3) of the PGR, some details relating to investments in Group companies have not been disclosed in this list. (7) Inventories in CHF million 2018 2017 Raw materials 20.4 19.1 Consumables 8.9 8.5 Production in progress 6.1 6.1 Finished products and goods held for resale 138.8 92.5 Total inventories 174.2 126.2 The increase in total inventories includes an increase in the provision for inventories of CHF 23.9 million (2017: CHF 6.8 million), which is optional under PGR and tax rules. The total amount for this provision amounts to CHF 86.2 million (2017: CHF 62.3 million). 2018 Financial Report | 86