German Potentially Undervalued Companies

Stingray Group

Market Cap: €673.5m

Operates as a music, media, and technology company in Canada, the United States, and internationally.

DOF Group

Market Cap: €24.1b

Owns and operates a fleet of offshore and subsea vessels.

Casta Diva Group

Market Cap: €11.8m

Operates as a communication company in Italy and internationally.

Bidvest Group

Market Cap: €80.5b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Indofood Sukses Makmur

Market Cap: €65.4t

Operates as a food solutions company in Indonesia, the Middle East, Africa, rest of Asia, internationally.

Asahi Group Holdings

Market Cap: €2.8t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Huhtamäki Oyj

Market Cap: €3.2b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

McBride

Market Cap: €205.0m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, Asia-Pacific, and internationally.It operates through five segments: Liquids, Powders, Unit dosing, Aerosols, and Asia Pacific.

Wesdome Gold Mines

Market Cap: €2.7b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

Amneal Pharmaceuticals

Market Cap: €3.0b

A global biopharmaceutical company, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide.

Sanofi

Market Cap: €103.0b

A healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally.

Evonik Industries

Market Cap: €7.7b

Produces and sells specialty chemicals in the Asia-Pacific, Europe, the Middle East, Africa, Central and South America, and North America.

Renault

Market Cap: €9.1b

Engages in the design, manufacture, sale, repair, maintenance, and leasing of motor vehicles in Europe, Eurasia, Africa, the Middle East, the Asia Pacific, and the Americas.

Scorpio Tankers

Market Cap: €2.4b

Engages in the seaborne transportation of crude oil and refined petroleum products worldwide.

Angel Oak Mortgage REIT

Market Cap: €230.5m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Prosegur Cash

Market Cap: €1.0b

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

China Resources Land

Market Cap: €217.9b

An investment holding company, engages in the investment, development, management, and sale of properties in the People’s Republic of China.

Headwater Exploration

Market Cap: €1.6b

Engages in the exploration, development, and production of petroleum and natural gas resources in Canada.

Shougang Fushan Resources Group

Market Cap: €14.0b

An investment holding company, engages in the business of coking coal mining and production and sales of coking coal products in the People's Republic of China.

Inchcape

Market Cap: €2.5b

Operates as an automotive distributor and retailer.

Prudential

Market Cap: €25.3b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Century Casinos

Market Cap: €82.9m

Operates as a casino entertainment company in the United States, Canada, and Poland.

Schloss Wachenheim

Market Cap: €115.6m

Produces and distributes sparkling and semi-sparkling wine products in Europe and internationally.

Kforce

Market Cap: €574.8m

Provides professional staffing services and solutions in the United States.

Ashtead Technology Holdings

Market Cap: €298.7m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

Krones

Market Cap: €4.2b

Engages in the planning, development, and manufacture of machines and lines for the production, filling, and packaging technology for the food and beverage industry in Germany and internationally.

Cabka

Market Cap: €46.1m

Manufactures and sells pallets and large containers made from recycled plastic in Europe, North America, and internationally.

Universal Health Services

Market Cap: €11.5b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

XP

Market Cap: €9.8b

Provides financial products and services in Brazil.

Marex Group

Market Cap: €2.6b

A financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets in the United Kingdom, the United States, and internationally.

Summerset Group Holdings

Market Cap: €2.6b

Develops, owns, and operates integrated retirement villages in New Zealand and Australia.

Amdocs

Market Cap: €9.3b

Through its subsidiaries, provides software and services to communications, entertainment, and media service providers worldwide.

ARC Resources

Market Cap: €15.3b

Engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada.

lastminute.com

Market Cap: €167.9m

Operates in the online travel industry providing dynamic holiday packages in Italy, Spain, the United Kingdom, France, Germany, and internationally.

Nagarro

Market Cap: €664.7m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.

Zhihu

Market Cap: €407.5m

Operates an online content community in the People’s Republic of China.