Earnings Report /
Mexico

GMexico Transportes: GMXT, Quarterly Report 2Q21: Growth returns with solid results

  • Remarkable progress in 2Q21, supported by an easy base, and lower expenses, which reflected a greater profitability

  • The report points to sustained growth ahead. We reiterate Gmxt as one of the most benefited in the recovery context

  • Including the results, FV/EBITDA multiple showed a significant reduction from 8.5x to 7.7x, an attractive valuation

Marissa Garza Ostos
Marissa Garza Ostos

Head of Equity Research

Eridani Ruibal Ortega
Eridani Ruibal Ortega

Jr Equity Research Analyst

Banorte
27 July 2021
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