Daimler Truck Financial Services launches in Argentina, Belgium, Italy and the Netherlands

• It plans to expand its operations to Spain, Turkey and the UK this year and then to France and Germany.
• By the end of 2022, Daimler Truck Financial Services will be one of the largest financial service providers for commercial vehicles, with an expected contract volume of nearly 22 billion euros.
• Other markets, as well as new products in the realm of electrification or usage-based and flexible services (pay-as-you-drive), hold growth prospects for the future.

Daimler Truck Financial Services is expanding its international business by now launching in Argentina, Belgium, Italy and the Netherlands. Further expansion into Spain, Turkey and the UK is planned this year, and earlier, in December 2021, the financial services provider had already launched new business in seven countries. Contract volume is expected to reach nearly 22 billion euros by the end of 2022. The expansion of operations into Germany and France, planned for 2023, will contribute to further growth. Daimler Truck Financial Services will then be one of the largest financial service providers in the commercial vehicle market, with around 1,900 employees in 16 countries.

"We have built out Daimler Truck Financial Services in record time, completely in the spirit of a start-up," said Stephan Unger, member of Daimler Truck AG's Management Board for Financial Services, and CEO of Daimler Truck Financial Services. "With the launch of our operations in Argentina, Belgium, Italy and the Netherlands, we will boost sales of vehicles and service solutions for all of Daimler Truck's truck and bus brands."

In addition to expanding into new markets, Daimler Truck Financial Services also sees growth opportunities in new financing products and service solutions in addition to its existing financing, leasing and insurance business. That includes flexible and usage-based 'pay-as-you-drive' services, for example the dynamic leasing or dynamic insurance. The 'Dynamic Lease' product is already available in Japan and the U.S., while a first pilot phase for 'Dynamic Insurance' will start in the U.S. this year. The transition of the transportation sector to e-mobility offers additional growth opportunities with new solutions for charging, e-infrastructure or battery leasing. Other future business opportunities present themselves in the fleet management sector or stem from the integration of connectivity services, such as payment solutions.

Daimler Truck Financial Services is part of the Daimler Truck Group. In 2021, Daimler Truck Financial Services managed to increase the value of its new contracts to 5.8 billion euros on a limited basis. (2020: 5.7 billion euros). Contract volume increased by 6% to 16.9 billion euros (2020: 15.9 billion euros). Adjusted earnings before interest and taxes (EBIT) rose to 193 million euros (2020: 2 million euros). This was due in particular to the improvement in interest margins and significantly lower risk costs. The adjusted return on equity was 12.4% (2020: 0.1%).

The organization, product development and sales systems and procedures of Daimler Truck Financial Services focus exclusively on commercial vehicle users and are an integral part of the Daimler Truck Group. Daimler Truck Financial Services began operations in December 2021 in Australia, Brazil, Japan, Canada, Mexico, South Africa and the US.