Daimler Financial Services posted a loss of €167 million in Q1
2009, and saw new business reduce by 12 percent in the same
period.
The Berlin-based company, which provides financing for Daimler
Group’s brands in over 40 countries, reported an EBIT loss of €167
million, compared to a profit of €168 million last year, primarily
due to charges resulting from increases in risk provisions.
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Daimler FS said it anticipates rising credit defaults and higher
refinancing expenses in full-year 2009.
The company saw new business decrease by 12 percent to
€5.86 billion from €6.65 billion in the same period last year.
The parent company posted a worse-than-expected net loss of €1.3
billion compared with a profit of €1.3 billion a year ago,
reflecting a decrease in sales of its Mercedes-Benz cars and vans
and its Daimler trucks.
