Bulgarian Potentially Undervalued Companies

Air Canada

Market Cap: €5.6b

Provides domestic, U.S. transborder, and international airline services.

Deutsche Post

Market Cap: €43.2b

Operates as a mail and logistics company in Germany, rest of Europe, the Americas, the Asia Pacific, the Middle East, and Africa.

Bulgarian Real Estate Fund REIT

Market Cap: лв178.4m

Focuses on the development, management, and leasing of properties that have potential for cash-flow growth and capital appreciation.

Vodafone Group

Market Cap: €20.3b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Zarneni Hrani Bulgaria AD

Market Cap: лв23.5m

Provides services to agricultural producers in Bulgaria.

Toplofikatsia-Ruse AD

Market Cap: лв221.1m

Produces and sells electricity and thermal energy in Bulgaria.

BP

Market Cap: €65.7b

An integrated energy company, provides carbon products and services.

Rio Tinto Group

Market Cap: €78.3b

Engages in exploring, mining, and processing mineral resources worldwide.

Engie

Market Cap: €43.3b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Air France-KLM

Market Cap: €2.2b

Provides passenger and cargo transportation services worldwide.

Airbus

Market Cap: €126.1b

Engages in the design, manufacture, and delivery of aeronautics and aerospace products, services, and solutions worldwide.

Marathon Digital Holdings

Market Cap: €5.2b

Operates as a digital asset technology company in the United States.

Boeing

Market Cap: €162.3b

Designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

China Construction Bank

Market Cap: €2.0t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

Veolia Environnement

Market Cap: €20.5b

Designs and provides water, waste, and energy management solutions.

Sopharma Trading AD

Market Cap: лв193.7m

Engages in the wholesale and retail trade of medicinal products for the pharmaceutical sector in Bulgaria and Serbia.

Ørsted

Market Cap: €44.1b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage and renewable hydrogen facilities, and bioenergy plants.

Novo Nordisk

Market Cap: €1.7t

Engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally.

Lomsko Pivo AD

Market Cap: лв491.1k

Manufactures and sells beer in Bulgaria and internationally.

Verizon Communications

Market Cap: €184.1b

Through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.

Match Group

Market Cap: €8.6b

Engages in the provision of digital technologies.

Merck KGaA

Market Cap: €48.4b

Operates as a science and technology company in Germany.

Block

Market Cap: €35.5b

Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally.

Geely Automobile Holdings

Market Cap: €147.4b

An investment holding company, operates as an automobile manufacturer primarily in the People’s Republic of China.

Agro Finance REIT

Market Cap: лв121.1m

Agro Finance REIT invests in real estate properties, primarily agricultural lands in Bulgaria.

MTU Aero Engines

Market Cap: €20.5b

Engages in the development, manufacture, marketing, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Delta Air Lines

Market Cap: €30.0b

Provides scheduled air transportation for passengers and cargo in the United States and internationally.

Valneva

Market Cap: €403.7m

A specialty vaccine company, develops, manufactures, and commercializes prophylactic vaccines for infectious diseases with unmet needs.

CureVac

Market Cap: €1.2b

A biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA).

Volkswagen

Market Cap: €50.0b

Manufactures and sells automobiles in Germany, other European countries, North America, South America, the Asia-Pacific, and internationally.

Carl Zeiss Meditec

Market Cap: €3.9b

Operates as a medical technology company in Germany, rest of Europe, North America, and Asia.

Herti AD

Market Cap: лв34.1m

Provides various packaging solutions.

Bulgarian Stock Exchange AD

Market Cap: лв125.3m

Operates as a stock exchange in Bulgaria.

Doverie United Holding AD

Market Cap: лв196.8m

Acquires, manages, assesses, and sells shares and shareholdings in Bulgarian and foreign companies.

Pfizer

Market Cap: €136.7b

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States and internationally.

Deutsche Lufthansa

Market Cap: €9.0b

Operates as an aviation company in Germany and internationally.