• 3.5 keyvisual financial1

    Daimler Financial Services offers tailored financial services packages also for younger people.

Daimler Financial Services offers tailored financial services packages also for younger people.

Daimler Financial Services

Daimler Financial Services achieved further growth in new business and contract volume in 2012. We expanded our financial services portfolio particularly in Asia. By the end of 2012, our car2go mobility concept was being used by some 270,000 customers in 18 cities. Daimler Financial Services once again received awards in the areas of customer satisfaction, dealer satisfaction and employer attractiveness.

4.09

Daimler Financial Services
  2012 2011 12/11
Amounts in millions of euros     % change
       
EBIT 1,292 1,312 -2
Revenue 13,550 12,080 +12
New business 38,076 33,521 +14
Contract volume 79,986 71,730 +12
Investment in property, plant, and equipment 23 21 +10
Employees (December 31) 7,779 7,065 +10
 

Further growth in new business and contract volume. Business at Daimler Financial Services once again developed favorably in 2012. New business increased by 14% to the record figure of €38.1 billion. Contract volume, which expresses the value of all leasing and financing contracts managed by Daimler Financial Services, rose by 12% to €80.0 billion. Adjusted for exchange-rate effects, contract volume increased by 13%. EBIT of €1,292 million was at the same level as in the prior year (€1,312 million). (See table 4.09)

Daimler Financial Services

Positive business development in Europe. Daimler Financial Services concluded new financing and leasing contracts worth €18.2 billion in the Europe region in 2012. The development of new business was particularly dynamic in Russia (+127%), Turkey (+43%) and the United Kingdom (+39%). Contract volume in Europe totaled €34.5 billion at the end of the year under review, which is an increase of 11% compared to 2011. In Germany, the contract volume of Mercedes-Benz Bank increased by 4% to €17.8 billion.

In 2012, we successfully completed the realignment of Mercedes-Benz Bank and the transfer of Daimler Financial Services’ global headquarters from Berlin to Stuttgart. We expect the resulting efficiency gains to generate savings of more than €10 million each year. At €12.1 billion, Mercedes-Benz Bank’s deposit volume in the direct banking business was 10% higher than a year earlier.

Growth in the Americas region. New business in the Americas region increased compared with the prior year by 16% to €14.6 billion in 2012. Business developments were particularly positive in Canada (+27%), the United States (+22%) and Mexico (+19%). However, new business in Brazil declined due to the general economic development there. Contract volume in the Americas region increased by 11% to a total of €34.1 billion at the end of the year under review.

Dynamic growth in Asia. The Africa & Asia-Pacific region once again recorded the strongest growth in 2012. At €5.3 billion, new business was up by 17% from the prior year. In Japan, the volume of new leasing and financing contracts rose by 43% to €1.4 billion. Total contract volume in the Africa & Asia-Pacific region reached €11.3 billion, which is 14% higher than in 2011. In August 2012, Daimler Financial Services became the first automotive financial services provider in China’s premium segment to offer leasing contracts. Financing activities designed to support the Group’s new BharatBenz commercial vehicle brand in India were successfully launched last year. In Malaysia, the new Mercedes-Benz Services Malaysia subsidiary began operating in November.

Insurance business passes the one-million mark. In the insurance business, Daimler Financial Services brokered over one million policies for the first time in one year. The number of new insurance contracts signed increased by 13% to approximately 1,100,000. Policies brokered in China were up by 22% compared with 2011, while our Russian subsidiary recorded nearly twice as many policies as in the prior year. Our cooperation with major insurance partners makes it possible for Mercedes-Benz customers to obtain exclusive vehicle insurance conditions for the brand’s typical safety features. In the event that a vehicle of one of our customers is damaged, it will be repaired in authorized workshops by highly skilled mechanics using genuine Mercedes-Benz spare parts. This arrangement also supports the Group’s service centers and spare parts business.

Growth of business with fleet customers. Daimler Financial Services once again helped small and medium-sized commercial customers as well as major international companies in many countries to finance and manage their fleets of vehicles. We were able to grow in this sector as well, with new business increasing by 6% to 126,000 units. We managed a total of 328,000 vehicles for commercial customers by the end of 2012, representing an increase of 6% compared with a year earlier. With approximately 700 customers from all industries, the Daimler Financial Services subsidiary Daimler Fleet Management is one of the biggest providers of fleet management services in Germany.

Numerous awards for customer and dealer satisfaction. Daimler Financial Services was once again honored many times in 2012 for the outstanding quality of its services. For the fourth consecutive year, Germany’s “Autohaus” magazine named Mercedes-Benz Bank the best premium-segment provider of automotive financial services. Daimler Financial Services ranked first in several categories of the J.D. Power and Associates study of dealer satisfaction in the United States and Canada. The division’s Australian subsidiary finished first in a local dealer satisfaction study for the third time in succession.

A highly attractive employer. Daimler Financial Services is highly regarded as an employer. This fact was confirmed in 2012 by external institutes. For example, the highly respected Great Place to Work Institute reported that Daimler Financial Services’ US subsidiary is among the country’s 25 most attractive employers in its segment. Daimler Financial Services in China was also singled out for praise by the Great Place to Work Institute.

Further expansion of business with innovative mobility services. Daimler Financial Services is increasingly supplementing its automotive financial services operations with activities in the rapidly growing market for mobility services. The division’s innovative car2go car-sharing concept is now up and running in 18 cities in Europe and North America. As a result, the number of car2go locations more than doubled during the year under review. car2go was launched in Stuttgart at the end of November with a fleet of 300 fully electric vehicles. At the end of 2012, car2go had some 270,000 customers worldwide (2011: 60,000). Starting at the beginning of 2013, Daimler Financial Services also concentrated all activities related to innovative mobility services in the subsidiary Daimler Mobility Services GmbH and assumed responsibility for the “moovel” mobility platform, which enables customers to compare various mobility options on their smartphones.

car2go

Expansion of Toll Collect system. This system, which is used to collect truck tolls on German autobahns, continued to run smoothly and reliably during the year under review. On August 1, 2012, the system was extended to cover approximately 1,100 kilometers of four-lane non-autobahn highways in Germany. A total of 741,900 onboard systems for automatic toll collection were in use at the end of 2012. Tolls were collected for a total distance of 26.6 billion kilometers during the year under review. Daimler Financial Services holds a 45% equity interest in the Toll Collect consortium.