Bulgarian Potentially Undervalued Companies

Deutsche Telekom

Market Cap: €147.2b

Provides integrated telecommunication services worldwide.

Alibaba Group Holding

Market Cap: €265.5b

Through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.

Warner Bros. Discovery

Market Cap: €36.8b

Operates as a media and entertainment company worldwide.

Fresenius Medical Care KGaA

Market Cap: €11.2b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Aroundtown

Market Cap: €3.3b

Operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.

Covestro

Market Cap: €11.4b

Supplies high-tech polymer materials and application solutions.

Devon Energy

Market Cap: €21.3b

An independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.

STMicroelectronics

Market Cap: €24.0b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

HelloFresh

Market Cap: €1.2b

Operates as meal kit provider for home industry.

Intel

Market Cap: €99.0b

Designs, develops, manufactures, markets, and sells computing and related products and services worldwide.

Sopharma AD

Market Cap: лв430.9m

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

Orange

Market Cap: €35.0b

Operates as a telecommunications operator in France and internationally.

HELLENiQ ENERGY Holdings

Market Cap: €2.3b

Operates in the energy sector in Greece, the Southeastern Europe, and the East Mediterranean.

Aurora Cannabis

Market Cap: €344.7m

Engages in the production, distribution, and sale of cannabis and cannabis-derivative products in Canada and internationally.

UniCredit

Market Cap: €89.3b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

Mercedes-Benz Group

Market Cap: €49.6b

Operates as an automotive company in Germany and internationally.

First Investment Bank AD

Market Cap: лв766.3m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Central Cooperative Bank AD

Market Cap: лв219.9m

A commercial bank, provides various financial products and services.

Stellantis

Market Cap: €23.0b

Engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide.

Medical Properties Trust

Market Cap: €2.5b

A self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities.

AXA

Market Cap: €87.3b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

DWS Group GmbH KGaA

Market Cap: €10.4b

Offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

SCOR

Market Cap: €4.9b

Provides life and non-life reinsurance products in Europe, the Middle East, Africa, the Americas, Latin America, and the Asia Pacific.

Crédit Agricole

Market Cap: €49.9b

Provides retail, corporate, insurance, and investment banking products and services in France and internationally.

GFT Technologies

Market Cap: €605.6m

Provides digital transformation services.

TUI

Market Cap: €3.7b

Provides tourism services worldwide.

AGRANA Beteiligungs-Aktiengesellschaft

Market Cap: €734.2m

Operates as an industrial processor of agricultural raw materials in Austria, European Union, rest of Europe, and internationally.

Telelink Business Services Group AD

Market Cap: лв111.9m

Designs and integrates IT infrastructure solutions for companies.

Bayer

Market Cap: €27.1b

Operates as a life science company worldwide.

Albena AD

Market Cap: лв109.5m

Operates resorts on the Bulgarian Black Sea coast.

Daimler Truck Holding

Market Cap: €30.8b

Manufactures and sells light, medium- and heavy-duty trucks and buses in Europe, North America, Asia, Latin America, and internationally.

Gradus AD

Market Cap: лв261.0m

Produces and sells poultry products in Bulgaria, Europe, and internationally.

Banco Santander

Market Cap: €106.7b

Provides various financial products and services to individuals, small and medium-sized enterprises, large corporations, and public entities worldwide.

BYD

Market Cap: €1.1t

Engages in automobiles and batteries business in the People’s Republic of China, Hong Kong, Macau, Taiwan, and internationally.

Altria Group

Market Cap: €99.1b

Through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

Kraft Heinz

Market Cap: €32.6b

Manufactures and markets food and beverage products in North America and internationally.