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DAIMLER--Daimler Financial Services AG today becomes Daimler Mobility AG -- 24/07/2019.

* As of 24 July 2019, Daimler Financial Services is renamed Daimler Mobility AG.

* Financing, leasing, insurance and fleet management continue to be part of the core business of Daimler Mobility.

* New name underlines the strategic standard the business division has set for itself: to offer comprehensive flexible mobility solutions in the future.

Stuttgart (Germany)--Today Daimler Financial Services AG will begin operating under the name of Daimler Mobility AG and act as a provider of services in the field of financing, leasing, insurance and fleet management for the entire Daimler Group. Furthermore, the Daimler Mobility business division is a strategic investor in mobility services such as FREE NOW, SHARE NOW and Blacklane. Flexible service offerings like Mercedes-Benz Rent (car rental) and Mercedes me Flexperience (subscription solution) complete the mobility ecosystem. As part of the approved implementation of the Daimler Group's Project Future, Daimler Mobility AG is one of the three legally autonomous units under the umbrella of Daimler AG, alongside Mercedes-Benz AG and Daimler Truck AG.

Franz Reiner, Chairman of the Board of Management of Daimler Mobility AG: "We finance mobility. We insure mobility. We develop flexible solutions such as rental and subscription models. And we are an active shareholder in several innovative mobility services. The new name Daimler Mobility AG takes full account of this spectrum. We also offer our customers mobility solutions through joint ventures with partners such as the BMW Group and the Geely Group Company."

Since the start of the mobility joint ventures in February 2019, the companies established jointly by Daimler AG and the BMW Group have developed very positively. As of June 30, 2019, more than 75 million people had used the mobility services of the five joint ventures for ride hailing (FREE NOW), car sharing (SHARE NOW), on-demand mobility and multimodality (REACH NOW), parking (PARK NOW) and charging (CHARGE NOW). By the end of the second quarter, 269 million transactions had been concluded with the services of the YOUR NOW joint-venture companies.

Daimler Mobility: WE MOVE YOU

Companies affiliated with the Daimler Mobility business division, such as the foreign Mercedes-Benz Financial Services companies and Mercedes-Benz Bank AG, will continue to do business under their firms. With the nomination of Jorg Lamparter as Member of the Board of Management for Digital and Mobility Solutions, as of 1 June 2019 the company has upgraded these business activities accordingly. With the new corporate purpose WE MOVE YOU, Daimler Mobility is also underlining its commitment to offer customers a wide range of mobility solutions. The purpose is part of a Daimler-wide initiative to give an unmistakeable identity to the individual divisions of the Group.

Franz Reiner: "WE MOVE YOU! This is our answer when asked why we exist as Daimler Mobility. As a provider of flexible mobility solutions we are already in a position to offer a variety of solutions that meet many lifestyle needs, from traditional financing or leasing of passenger cars, vans and trucks, to offering flexible services such as car rental, driving services, or micro-mobility solutions like e-scooters within minutes."

Second Quarter Results

Daimler AG today reported second quarter 2019 results, which closed on June 30. At Daimler Financial Services, new business was almost flat at [euro]18.4 billion in the second quarter (Q2 2018: [euro]18.3 billion). Revenue was 9% higher at [euro]7.1 billion (Q2 2018: [euro]6.6 billion). The division's EBIT amounted to [euro]431 million (Q2 2018: [euro]66 million), an increase of 553% compared to the prior year. At 12.5%, return on equity was above the figure of 2.1% in the prior-year period. The division expects a return on equity of 17% to 19% in 2019.!&rs=7
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Title Annotation:Media Releases
Publication:German Automotive
Date:Jul 30, 2019
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