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Prime Mover Magazine

Record year for Daimler Financial Services

German original equipment manufacturer, Daimler, said that 2017 was the most successful financial year in the company’s history for the provider of financial and mobility services, Daimler Financial Services.

With reported worldwide growth of 14 per cent in new business volume compared to the previous year, the company was able to substantially better 2016 results. EBIT stood at €1.97 billion ($3 billion), corresponding to an increase in profit of around 13% compared to 2016.

"The very good results were driven by customised services and a premium portfolio, which were decisive in the most successful year in the history of Daimler Financial Services,” said Bodo Uebber, responsible for Finance & Controlling and Daimler Financial Services on the Board of Daimler.

“We are using furthermore our financial might to systematically drive forward the extension of our digital divisions for mobility and financial services,” he said.

In the European region, Daimler Financial Services concluded 968,000 new financing and leasing contracts to a value of €31 billion ($40.8 billion), an increase of 15 per cent. In the Africa & Asia-Pacific region (without China), new business once again increased considerably by 16 per cent compared to the previous year, amounting to €8.4 billion ($13.1 billion). China is posting by far the highest growth rate: in 2017, more than 300,000 new contracts with a value of €9.5 billion ($14.8 billion) were completed, an increase of 56 per cent. New business in North and South America was at the previous year's level.

Daimler, has also reported record unit sales and revenue for 2017.

(Image: Daimler Financial Services, Bodo Uebber.)

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