Mexico

Promotora y Operadora de Infraestructura: PINFRA, Quarterly Report 2Q21: Surprising recovery and more than doubled EBITDA

  • 2Q21 figures showed relevant growths, better than expected, due to a very low base and a rebound of economic activity

  • Although traffic on highways continues to recover, EBITDA was record high. We reaffirm our Pinfra’s positive outlook

  • Including figures, the multiple lowered from 9.8x to 8.2x, which is attractive vs. 9.4x L2Y pre-pandemic average

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Jose Itzamna Espitia Hernandez @ Banorte
July 28th, 2021
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