Daily Brief Industrials: Grupo Aeroportuario del Pacifi, Driven Brands Holdings , Waaree Renewable Technologies and more

• During the last decades, the airport industry has proven to be resilient, having a traffic recovery from previous local or global crises such as September 11, in the EE.UU., SARS, and the financial crisis.
• The COVID-19 pandemic was not the exception, and now the traffic recovery is within its traffic recovery corridor worldwide, reaching the pre-pandemic levels.
• Although we expect 3Q24 quarterly results to be negatively impacted by total traffic contraction, overall total EBITDA will rise 15% YoY, mainly explained by a positive performance on VOLAR, ASUR, and GAP’s results.

• Tigus provides a clear view of industries and companies for research
• Kyle Mowry discusses Driven Brands as a complex but interesting investment
• Driven Brands offers a combination of private equity control and public market liquidity, leading to potential mispricing and alpha opportunity

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• Waaree Energies is looking to raise up to US$514m in its India IPO.
• Waaree Energies is a solar PV module manufacturer in India with an aggregate installed capacity of 12 GW, as of Jun 2024.
• We have looked at the company’s past performance in our earlier note. In this note, we talk about the RHP updates and valuations.