Daimler Financial Services (FS) has seen an
increase in new business across Europe according to the company’s
latest results.
Daimler FS, the financing and leasing
businesses of German motor company Daimler which published its
second quarter results on Thursday 27 July 2011, saw contract
volume in Europe increase 2% from the end of 2010 to €29.6bn.
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Business increased particularly in Eastern
Europe with a 45% rise in Romania, and an increase of 14% and 12%
in Russia and Turkey respectively.
The contract volume for Mercedes-Benz Bank, a
Germany-based subsidiary, increased during the first half of the
year by 1% to €16.3bn.
Globally, Daimler FS saw a 99% year-on-year
increase in EBIT from €171m to €340m with a 7% increase in new
business although total contract volume was down 1% from the end of
2010 to €63.1bn.
Parent company Daimler reported a record
second quarter with EBIT of €2.58bn and net profit of €1.7bn.
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By GlobalDataDr. Dieter Zetsche, chairman of the board of
management of Daimler, said the company are on schedule to make
2011 one of their most successful years in their corporate history
and expect group EBIT to develop more positively in the second half
of than previously expected.
grant.collinson@vrlfinancialnews.com
