MAN Finance has reported a pre-tax loss of €7 million in the
first quarter of 2009, significantly down from the previous year’s
profit of €2 million.
According to the manufacturer’s quarterly report, its financial
services unit recorded a total operating loss of €6 million “as a
result of higher funding costs and risk provisions”.
Go deeper with GlobalData
The losses are despite total income from MAN’s financial
services unit rising from €37 million to €46 million in 2009. In
total, MAN Finance contributed €2 million to MAN Group’s operating
activity cash flow.
More analysis and comment on MAN Finance will appear in the
next issue of Leasing Life (June issue).
Jason T Hesse
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