Spanish Potentially Undervalued Companies

Global Dominion Access

Market Cap: €479.9m

Provides integral services for business process efficiency and sustainability worldwide.

Vidrala

Market Cap: €3.0b

Manufactures and sells glass containers for food and beverage products in the United Kingdom, Ireland, Italy, Iberian Peninsula, rest of Europe, and Brazil.

eDreams ODIGEO

Market Cap: €908.4m

Operates as an online travel company in France, Southern Europe, Northern Europe, and internationally.

Vocento

Market Cap: €75.2m

An independent communications company, develops content and services in Spain.

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.

Cirsa Enterprises

Market Cap: €2.6b

A gaming company, together with its subsidiaries, engages in the operation of slot machines, casinos, and gaming halls in Spain, Italy, Panama, Colombia, Mexico, Costa Rica, Morocco, Dominican Republic, and Peru.

Ebro Foods

Market Cap: €2.8b

Operates as a food company in Spain, rest of Europe, the United States, Canada, and internationally.

Mapfre

Market Cap: €11.6b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Telefónica

Market Cap: €25.5b

Provides telecommunications services in Europe and Latin America.

Aedas Homes

Market Cap: €907.3m

Engages in the development of residential properties in Spain.

CIE Automotive

Market Cap: €3.2b

Designs, manufactures, and sells automotive components and sub-assemblies.

Grupo Catalana Occidente

Market Cap: €5.8b

Provides insurance products and services in Spain, the European Union, and internationally.

Prosegur Compañía de Seguridad

Market Cap: €1.4b

Operates in the private security sector.

Neoenergia

Market Cap: €33.9b

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

Atresmedia Corporación de Medios de Comunicación

Market Cap: €1.2b

An audiovisual company, engages in the television, radio, digital and multimedia development, cinema, and events organization businesses in Spain and internationally.

International Consolidated Airlines Group

Market Cap: €18.0b

Engages in the provision of passenger and cargo transportation services in the North Atlantic, Latin America, the Caribbean, Europe, Africa, the Middle East, South Asia, the Asia Pacific, and internationally.

Gestamp Automoción

Market Cap: €1.9b

Designs, develops, and manufactures metal components for the automotive industry in Western Europe, Eastern Europe, Mercosur, North America, and Asia.

Soltec Power Holdings

Market Cap: €145.3m

Engages in the development of solutions for photovoltaic energy projects in Spain, Italy, Brazil, the United States, Mexico, Argentina, Chile, Colombia, Peru, Panama, Australia, China, India, Thailand, France, Denmark, Egypt, Israel, Portugal, the United Arab Emirates, Romania, and Kenya.

Tubacex

Market Cap: €463.6m

Engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally.

Grupo Financiero Banorte. de

Market Cap: €481.5b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Nicolás Correa

Market Cap: €133.7m

Engages in the design, manufacture, and sale of CNC milling machines in Spain and internationally.

Construcciones y Auxiliar de Ferrocarriles

Market Cap: €1.8b

Construcciones y Auxiliar de Ferrocarriles, S.A.

Petróleo Brasileiro - Petrobras

Market Cap: €418.5b

Explores, produces, and sells oil and gas in Brazil and internationally.

Banco Bilbao Vizcaya Argentaria

Market Cap: €91.0b

Provides retail banking, wholesale banking, and asset management services primarily in Spain, Mexico, Turkey, South America, rest of Europe, the United States, and Asia.

Aperam

Market Cap: €1.9b

Produces and sells stainless steel and alloy products worldwide.

Obrascón Huarte Lain

Market Cap: €537.8m

Engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally.

Trajano Iberia Socimi

Market Cap: €4.5m

A real estate investment trust.

Robot

Market Cap: €8.2m

A technology company, drafts, manufactures, sells, and installs appliances and electronic systems in Spain and internationally.

Prim

Market Cap: €208.4m

Provides health technology, mobility, and health care products in Spain.

MFE-Mediaforeurope

Market Cap: €2.3b

Operates in the television industry in Italy and Spain.

ArcelorMittal

Market Cap: €21.6b

Operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa.

Renta Corporación Real Estate

Market Cap: €24.8m

A real estate company, engages in the acquisition, rehabilitation, and sale of real estate properties in Barcelona and Madrid, Spain.

VBARE Iberian Properties SOCIMI

Market Cap: €26.0m

A multi-family residential REIT company.

Galil Capital RE Spain SOCIMI

Market Cap: €24.9m

Operates as a real estate investment company.

Inmocemento

Market Cap: €1.6b

Inmocemento S.A., through its subsidiaries, engages in the real estate and cement businesses.

Mistral Iberia Real Estate SOCIMI

Market Cap: €22.9m

A real estate investment company, invests in real estate and other assets.