Mercedes 2010 Annual Report Download - page 96

92
At the Mercedes-Benz Vans division, the focus of investment
was for the model upgrade of the Vito/Viano, the development of
new products, and our plants and sales organization. At Daimler
Buses, our main investment in 2010 was in new products and our
production plants.
Investment in property, plant and equipment
2010 2009 10/09
In millions of euros % change
Daimler Group 3,653 2,423 +51
Mercedes-Benz Cars 2,457 1,618 +52
Daimler Trucks 1,003 597 +68
Mercedes-Benz Vans 91 113 -19
Daimler Buses 95 78 +22
Daimler Financial Services 12 14 -14
In billions of euros
Capital expenditure
4
3
2
1
0
20072006 2008 20102009
Net debt at Group level, which primarily results from the refinancing
of the leasing and sales financing business, decreased
compared with December 31, 2009 by €0.3 billion.
Net debt of the Daimler Group
Dec. 31,
2010
Dec. 31,
2009 10/09
In millions of euros Change
Cash 10,903 9,800 1,103
Marketable securities
and term deposits
2,096
6,342 -4,246
Liquidity 12,999 16,142 -3,143
Financing liabilities -53,682 -58,294 4,612
Market valuation and currency
hedges for financing liabilities
-213
993 -1,206
Financing liabilities (nominal) -53,895 -57,301 3,406
Net debt -40,896 -41,159 263
Capital expenditure
Following significant reductions in the year 2009 as a result of
strict liquidity management, in line with the more favorable busi-
ness development, we increased our investment in property,
plant and equipment to €3.7 billion in 2010 (2009: €2.4 billion).
The focus was on investments in new vehicle models and new
drive systems. €2.1 billion of the total volume of capital expendi-
ture was in Germany.
At Mercedes-Benz Cars, investments in property, plant and equip-
ment increased by 52% to €2.5 billion in 2010. One focus was on
the expansion of production capacities for the successor to the
A/B-Class at the new plant in Kecskemét, Hungary, and at the
Rastatt plant in Germany. In addition, we invested in the ramp-up
of the new M-Class in Tuscaloosa, USA, and prepared for the start
of C-Class production there in 2014. The main investment at the
Bremen plant was for the new generation of the SLK roadster.
We also invested in engine projects such as the production
of the new V6 and V8 gasoline engines at the plant in Stuttgart-
Bad Cannstatt, as well as in expanding our car production capaci-
ties in the growth markets of China and India. Daimler Trucks
invested primarily in projects for the global harmonization and
standardization of engines and other main components and
to enable it to fulfill stricter emission regulations. We also invested
in the successor generations of existing truck models. Other
areas of investment were for additional production capacities for
the Actros heavy-duty truck, which has also been produced in
Aksaray, Turkey, since late 2010 and will be assembled in Juiz de
Fora, Brazil, as of 2012, and for the expansion of production
capacities at the plant in São Bernardo do Campo, Brazil. Total
investment in property, plant and equipment at Daimler Trucks
amounted to €1.0 billion (2009: €0.6 billion).