New business up by 14%
Contract volume reaches €84.3 billion
car2go black allows car-sharing with the Mercedes-Benz B-Class
EBIT of €397 million (Q1 2013: €314 million)
|Amounts in millions of euros||Q1 2014||Q1 2013||% change|
|Contract volume (March 31)||84,331||81,656||+3|
|Employees (March 31)||8,321||7,792||+7|
New business up by 14% compared with prior-year period
Daimler Financial Services concluded approximately 288,000 new leasing and financing contracts in the first quarter of this year (+14%), increasing its new business compared with the prior-year period by 14% to €9.8 billion. Contract volume of €84.3 billion at the end of the first quarter was slightly higher than at the end of 2013 (+1%). EBIT amounted to €397 million (Q1 2013: €314 million). The sale of a non-automotive asset in the United States had a positive impact on earnings of €45 million.
Europe: significant growth in new business
In the Europe region, new business increased by 14% to €4.5 billion. The volume of new contracts concluded in Russia nearly doubled, despite the increasingly challenging conditions (+79%). The new business of the German subsidiary Mercedes-Benz Bank AG increased by 19%; the deposit volume in the direct banking business amounted to €11.1 billion at the end of the first quarter (-11%). Daimler Financial Services’ contract volume in Europe of €37.4 billion was approximately at the level of year-end 2013. Daimler Fleet Management expanded its product offering in March with the addition of the Corporate Carsharing service component for fleet customers: This allows employees to conveniently reserve their company’s fleet vehicles online for business or private journeys. In this way, fleet costs can be further reduced while streamlining the related administrative processes.
Americas: strong gains in Brazil
In the Americas region, leasing and financing contracts were concluded in a total amount of €3.6 billion, representing growth of 6%. The business development was particularly positive in Brazil, where growth of 25% was achieved compared with the prior-year period. Contract volume in the Americas region of €34.8 billion at the end of March was slightly higher than at the end of 2013.
Africa & Asia-Pacific: triple-digit growth in China
In the Africa & Asia-Pacific region, the value of newly concluded leasing and financing contracts increased compared with the first quarter of last year by 39% to €1.7 billion. In China, triple-digit growth of 139% was achieved. Nearly all the countries in the region reported high double-digit increases. Contract volume in Africa & Asia-Pacific increased compared with year-end 2013 by 4% to €12.0 billion.
Further growth for insurance
In the insurance business, Daimler Financial Services brokered 15% more automotive-related policies than in the prior-year period. Worldwide, approximately 200,000 insurance contracts were concluded. Strong growth was achieved once again in China, where approximately 33,000 policies brokered represents an increase of 68%.
car2go black with Mercedes-Benz automobiles
The car2go car-sharing service expanded its customer base in the first three months of the year 2014 to a total of approximately 700,000 customers (+14%). In Berlin and Hamburg as of February, customers are able to spontaneously rent Mercedes-Benz B-Class cars for journeys within and between those two cities under the new brand of car2go black. And with moovel, we offer an intuitive smartphone app that allows customers to compare various transportation services according to various parameters, and thus to find the optimal way of getting from A to B. The app compares and combines services such as car2go, ride sharing, rental bicycles, taxis and public transportation.