1、Industry Multiples in Latin America Q3 2022Second EditionTable of Contents2Page1.Foreword32.Summary53.Country Snapshot64.Industry MultiplesCommunication Services12Consumer DiscretionaryConsumer Durables and Apparel15Consumer Services18Retailing21Consumer StaplesFood and Staples Retailing24Food,Bever

2、age and Tobacco27Energy30Financials33Health Care36IndustrialsCapital Goods39Commercial and Professional Services42Transportation45Information TechnologySoftware and Services48Materials51Real Estate54UtilitiesElectric,Gas and Water Utilities575.Criteria606.Industry Definitions617.Contact65ForewordFor

3、ewordDear readers,We are pleased to launch the second edition of our Industry Multiples in Latin America(LATAM)quarterly report.This report provides valuable insights into trading multiples for various key industries in LATAM as of September 30,2022.Our analysis uses publicly traded companies in Lat

4、in American countries,distributed among several different industries and sectors,following the definitions by the Global Industry Classification Standard(GICS).According to the International Monetary Fund(IMF)in its World Economic Outlook report released in October 2022,real economic growth in LATAM

5、 and the Caribbean is forecast to moderate to 3.5%in 2022,declining from 6.9%in 2021.1Expected growth in 2022 is now 0.5 percentage points above the IMFs forecast in July,reflecting the activity observed in the first half of 2022,which was stronger than expected.Favorable commodity prices,still-favo

6、rable external financing conditions and the normalization of activities in certain industries were factors considered by the IMF when increasing its estimates for 2022.Moreover,S&P Global Ratings(S&P)also attributes robust domestic demand growth and their resiliency to external headwinds as major fa