Report: Ferrari CEO once again rejects IPO speculation, says profit will jump in 2012

We’ve heard it many times before and today we’re hearing it again, Ferrari’s Chairman Luca di Montezemolo says that the company has no plans to file an IPO. However, the boss did say that the Italian supercar maker plans to increase profit this year.

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“We delivered 2011 net profit of more than 600 million euros ($752 million) and I assume that we will surpass this already excellent result this year,” Ferrari Chairman Luca di Montezemolo told Profil, an Austrian magazine.

The company’s profit jumped 17.2 percent to 42.1 million euros in the first-quarter of 2012. Montezemolo says that India and eastern Europe offer the created potential for growth for the brand.

– By: Omar Rana

Source: AutoNews


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