Caterpillar Financial Services has reported global revenues of
$676 million (€451.8 million) for the third quarter of 2009, down
11 percent year-on-year.
Profits at Cat Financial stood at $76 million (€50.8 million),
some 36 percent lower than after the equivalent period in 2008.
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The decline was largely ascribed to a $77 million (€51.5
million) decrease in lease receivables from agreements on constant
interest rates, offset slightly by a positive impact of $20 million
(€13.4 million) from higher rates on newer contracts.
An impact of €15.4 million was also registered from
repossessions and returns of equipment.
New retail financing was recorded at $1.8 billion (€1.2
billion), down a significant $2.6 billion, or 59 percent, from the
third quarter of 2008.
Fred Crawley
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