Mercedes 2012 Annual Report Download - page 86

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3 | Management Report | Business and General Conditions
The business of Daimler Financial Services continued to
develop positively in the year under review. New business and
contract volume both reached new record levels. Worldwide
contract volume increased by 12% to €80.0 billion. Adjusted
for exchange-rate effects, there was an increase of 13%. New
business increased compared with the prior year by 14% to
€38.1 billion. Nearly all regions contributed to this expansion,
with particularly high growth rates in Asia. Last August, we
became the first premium automaker to offer leasing products
in China. In India, we successfully started the financing business
for BharatBenz, Daimler’s new locally produced truck brand.
In November 2012, we launched vehicle financing also in Malay-
sia. In the insurance business, we brokered more policies in
2012 than ever before: The number of policies concluded
increased by 13% to approximately 1,100,000. In the area of
mobility services, our innovative car2go car-sharing concept is
meanwhile represented in 18 cities in Europe and North America;
last year, it more than quadrupled its customer base to
approximately 270,000 customers. E see pages 156 f
Order situation. The Mercedes-Benz Cars, Daimler Trucks,
Mercedes-Benz Vans and Daimler Buses divisions produce
vehicles predominantly to order in accordance with customers’
specifications. While doing so, we flexibly adjust the produc-
tion numbers to changing levels of demand. Mainly as a result
of strong demand in the United States and in various emerging
markets, the volume of orders received by Mercedes-Benz Cars
in 2012 exceeded the high prior-year level, despite the negative
impact of the European debt crisis. On the product side, this was
primarily due to the models of the new compact class and
the ongoing strong success of our SUVs. As a result of growing
demand, we increased our production volumes, but the order
backlog at the end of the year was still slightly higher than a year
earlier. Orders received by Daimler Trucks decreased in the
second half of the year due to the weakening of the world econ-
omy. The total number of orders received in 2012 was there-
fore lower than in the prior year, although we adjusted production
volumes to the reduced demand in the second half of the year.
Revenue. The Daimler Group increased its total revenue in the
year 2012 by 7% to €114.3 billion; adjusted for exchange-rate
effects, there was an increase of 4%. This means that the posi-
tive business development of 2011 continued, as we had
expected at the beginning of 2012, although growth impetus
became weaker towards the end of the year. Revenue grew by
7% to €61.7 billion at Mercedes-Benz Cars and by 9% to €31.4
billion at Daimler Trucks. Mercedes-Benz Vans’ revenue of
€9.1 billion was slightly lower than the prior-year level, while
Daimler Buses’ revenue decreased by 11% to €3.9 billion. At
the Daimler Financial Services division, revenue rose by 12% to
€13.6 billion.  3.10
In regional terms, Daimler achieved revenue growth in the NAFTA
region (+23% to 31.9 billion).  3.09 But we also increased
our revenue in Asia (+11% to €25.1 billion) and Eastern Europe
(+8% to €6.9 billion). The business volume of €39.4 billion in
Western Europe was at the prior-year level; this development
was reflected in both Germany and the other markets of West-
ern Europe in aggregate. In general, the regional distribution of
Daimler’s revenue has altered significantly in recent years in
favor of new markets. We now generate 36% of our business in
markets outside the United States, Western Europe and Japan.
That proportion was just 28% in 2008.
Consolidated revenue by region
In billions of euros
25
20
15
10
5
0
GermanyWestern Europe
(excl. Germany) Asia
NAFTA region
2008
2009
2010
2011
2012
30
35
Other markets
3.09
3.10
Revenue by division
2012 2011 12/11
In millions of euros % change
Daimler Group 114,297 106,540 +7
Mercedes-Benz Cars 61,660 57,410 +7
Daimler Trucks 31,389 28,751 +9
Mercedes-Benz Vans 9,070 9,179 -1
Daimler Buses 3,929 4,418 -11
Daimler Financial Services 13,550 12,080 +12