Daimler Financial Services posted second-quarter EBIT of €79
million, a 57 percent decrease compared to the second quarter of
The Berlin-headquartered company, which provides financing and
leasing solutions for the Daimler Group, said that the decline was
primarily due to higher expenses for credit risks as well as lower
New business volumes declined 16 percent to €6.5 billion, from
the €7.7 billion figure recorded in the second quarter of 2008.
Its contract volume amounted to €60.3 billion, close to the
level of a year earlier but 5 percent lower than at the end of
The company said it anticipates rising credit defaults and
continued high refinancing expenses in full-year 2009.
It expects full-year contract volumes be lower than in 2008.