Equity Analysis /
MexicoGrupo Aeroportuario Centro Norte: Flash: International traffic growth comes back
In July, total number of passengers rise 16.3%, slightly above our 14.0% estimate
International passengers surprised to the upside by a 7.5%y/y increase, while domestic advanced 17.5%y/y
Favorable dynamism supports the demand outlook for the year and the FV/EBITDAR at 10.5x confirms it in our top-picks
Jose Itzamna Espitia Hernandez
Senior Equity Research Analyst, Infrastructure, Materials and Transportation @ Banorte
Marissa Garza Ostos
Head of Equity Research @ Banorte
5 August 2022
Published byBanorte
