From Breakingviews - Maserati listing would need more engine power
to boost Maserati’s margins to 15% in the next 12 months. But given its frayed history, this would be too little and too soon to really whet investors’ appetite.
Grasso said the company will only consider a separation from Stellantis after hiking the margin to 20%, a goal it plans to achieve by 2029-2030, implying a listing is still years away. But assume Maserati were to treble sales to 75,000 units by 2025, a target the companyin 2020, taking revenue to perhaps 6.7 billion euros, and hit the 20% margin target in that year. It could then already fetch a whopping 15 billion euros if valued at an 11 times 2025 EBIT multiple, in line with Porsche.
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