Operating income in Scania Financial Services increased to a record SEK 1,016m (109m/£81.5m) in 2014.
A total of 35,097 trucks, buses and trailers were financed during the year, compared to 33,109 units in 2013. The company’s finance portfolio grew by 8% to SEK 55.6bn.
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According to the firm, lower bad debt expenses also contributed to improved earnings.
Bad debt expenses nearly halved in 2014 in relation to the year before, dropping from SEK 297m to SEK 167m. Scania Financial Services explained that risks were limited due to the diversified customer finance portfolio with regard to geography, industry and customer size.
Better margins were identified as another key contributor to the record earnings.
"More and more of our customers see the benefits in Scania´s overall solutions. We are a long-term partner that can support the customer regardless of the business climate. In addition to the growth of our finance portfolio, we see a significant increase in demand for insurance solutions," says Scania’s president and CEO Martin Lundstedt.
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