Mercedes 2012 Annual Report Download - page 74

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3 | Management Report | Business and General Conditions
Daimler Trucks’ area of responsibility also includes our investment
in Tognum, a globally leading supplier of complete systems
in the field of industrial engines. This company is controlled
by Engine Holding GmbH, in which Daimler and Rolls-Royce
Holdings plc each holds a 50% interest.
The product range of the Mercedes-Benz Vans division in the
segment of medium and heavy vans comprises the Sprinter,
Vito, Viano and Vario series. In 2012, we expanded our port-
folio with the addition of a city van, the Mercedes Benz Citan,
making us a full-range supplier in the vans business. The division
has production facilities at a total of seven locations: in Ger-
many, Spain, the United States, Argentina, China in the context
of the 50:50 joint venture Fujian Benz Automotive Co., Ltd, and
France in the context of the strategic alliance with Renault-Nissan.
Starting in the first half of 2013, the Mercedes-Benz Sprinter
will be produced under license also by our partner GAZ in Russia.
The most important markets for vans are in Europe, which
accounts for 75% of unit sales. As part of the “Vans goes global”
business strategy, we are also increasingly developing the
growth markets of South America and Asia as well as the Russian
van market through appropriate distribution and production
activities in those regions. We intend to continue our growth
also in the American van market, where the Sprinter is sold
not only as a Mercedes-Benz vehicle, but also under the Freight-
liner brand.
The Daimler Buses division with its brands Mercedes-Benz
and Setra continues to be the world’s leading manufacturer in
its core markets in the segment of buses above 8 tons. The
product range supplied by Daimler Buses comprises city and
intercity buses, coaches and bus chassis. The most important
of the 13 production sites are in Germany, France, Spain, Tur-
key, Argentina, Brazil and Mexico. In 2012, 45% of Daimler
Buses’ revenue was generated in Western Europe, 25% in
Latin America (excluding Mexico) and 11% in the NAFTA markets.
While we mainly sell complete buses in Europe, our business
in Latin America, Africa and Asia is focused on the production
and distribution of bus chassis. In view of continuously falling
demand for city buses in North America over recent years, we
have decided to cease production of Orion buses in the United
States and Canada. The US bus manufacturer Motor Coach
Industries International (MCI) was awarded the rights to exclusive
sales of Setra coaches in the United States during the year
under review; in return, we have acquired a 10% interest in MCI.
The Daimler Financial Services division supports the sales
of the Daimler Group’s automotive brands in 40 countries. Its
product portfolio primarily comprises tailored financing and
leasing packages for customers and dealers, but it also provides
services such as insurance, fleet management, investment
products and credit cards, as well as car sharing and other
mobility services. The main areas of the division’s activities are
in Western Europe and North America, and increasingly also
in Asia. In 2012, more than 40% of the vehicles sold by the Daimler
Group were financed or leased by Daimler Financial Services.
Its contract volume of €80 billion covers more than 2.8 million
vehicles. Daimler Financial Services also holds a 45% interest
in the Toll Collect consortium, which operates an electronic
road-charging system for trucks above 12 metric tons on high-
ways in Germany.
Through a subsidiary, Daimler held a 22.4% equity interest in
the European Aeronautic Defence and Space Company (EADS),
a leading company in the aerospace and defense industries,
until December 6, 2012. In economic terms, Daimler owned
a 14.9% stake in EADS, because until that date, a consortium
of national and international investors owned a one-third interest
in the subsidiary that holds the EADS shares. On December 6,
2012, Daimler AG reduced its shareholding in EADS to 7.5%, as
previously announced in November 2011. 61.1 million EADS
shares were sold through an accelerated book building process
to the KfW banking group, private investors in the consortium
and institutional investors.
Through a broad network of holdings, joint ventures and coop-
erations, Daimler is active in the global automotive industry
and related sectors. The statement of investments of Daimler
in accordance with Section 313 of the German Commercial
Code (HGB) can be found in the notes to the Consolidated
Statements. E see Note 39
Corporate governance statement
The corporate governance statement to be issued pursuant
to Section 289a of the German Commercial Code (HGB)
can be seen on the Internet at w daimler.com/corpgov/en.
Pursuant to Section 317 Subsection 2 Sentence 3 of the
HGB, the contents of the statement pursuant to Section 289a
of the HGB are not included in the audit carried out by the
external auditors.
Mercedes-Benz Cars 52%
Daimler Trucks 26%
Mercedes-Benz Vans 8%
Daimler Buses 3%
Daimler Financial Services 11%
Consolidated revenue by division
3.01