Spanish Potentially Undervalued Companies

Prosegur Compañía de Seguridad

Market Cap: €1.4b

Operates in the private security sector.

Airbus

Market Cap: €138.1b

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

CIE Automotive

Market Cap: €3.3b

Manufactures and sells automotive parts and components in North America, Brazil, Asia, CIE Forging Europe, and rest of Europe.

Prosegur Cash

Market Cap: €903.9m

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.

Vocento

Market Cap: €84.3m

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

Promotora de Informaciones

Market Cap: €417.7m

Engages in the exploitation of media in Spain and internationally.

Talgo

Market Cap: €371.1m

Engages in design, manufacture, and maintenance of railway and auxiliary machinery for the maintenance of railway systems rolling stock worldwide.

ArcelorMittal

Market Cap: €35.0b

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

Global Dominion Access

Market Cap: €453.7m

Provides integral services for business process efficiency and sustainability worldwide.

Telefónica

Market Cap: €20.2b

Provides telecommunications services in Europe and Latin America.

Mapfre

Market Cap: €11.1b

Engages in insurance, reinsurance, and financial activities in Spain.

MERLIN Properties SOCIMI

Market Cap: €7.7b

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate and infrastructure company trading on the Spanish Stock Exchange.

Agile Content

Market Cap: €45.7m

Engages in the information technology (IT) consulting services in Spain and internationally.

Vidrala

Market Cap: €2.6b

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

Aedas Homes

Market Cap: €1.0b

Engages in the development of residential properties in Spain.

Deoleo

Market Cap: €109.0m

Engages in the production, transformation, and sale of vegetable oils, and other food and agricultural products in Spain, Italy, Northern Europe, Northern America, the Asia Pacific, the Middle East, Africa, and Latin America.

Gestamp Automoción

Market Cap: €1.7b

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

Neoenergia

Market Cap: €39.9b

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

International Consolidated Airlines Group

Market Cap: €16.3b

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.

Usinas Siderúrgicas de Minas Gerais

Market Cap: €8.0b

Operates in the steel industry and related activities in Brazil and internationally.

Inmobiliaria del Sur

Market Cap: €302.6m

Operates as a property development and management company in Spain.

Grupo Financiero Banorte. de

Market Cap: €527.6b

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

Plásticos Compuestos

Market Cap: €9.3m

Engages in the design, production, and marketing of mineral fillers, and color concentrates and additives for the plastics processing industry in Spain, Germany, France, and internationally.

Neinor Homes

Market Cap: €1.7b

Develops, promotes, rental, and manages real estate properties in Spain.

Petróleo Brasileiro - Petrobras

Market Cap: €570.1b

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

Enagás

Market Cap: €3.8b

Engages in the transmission, storage, and regasification of natural gas.

Aperam

Market Cap: €2.5b

Produces and sells stainless steel and alloy products worldwide.

Banco Bilbao Vizcaya Argentaria

Market Cap: €102.7b

Provides various financial services in Spain, Mexico, Turkey, South America, Europe, the United States, and Asia.

Faes Farma

Market Cap: €1.5b

Researches, develops, produces, and markets pharmaceutical products, healthcare products, and raw materials internationally.

Construcciones y Auxiliar de Ferrocarriles

Market Cap: €2.0b

Construcciones y Auxiliar de Ferrocarriles, S.A.

Obrascón Huarte Lain

Market Cap: €584.8m

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.

Galil Capital RE Spain SOCIMI

Market Cap: €24.9m

Operates as a real estate investment company.

Bankinter

Market Cap: €12.0b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Inmocemento

Market Cap: €1.8b

Through its subsidiaries, engages in the cement and real estate businesses in Spain and internationally.

MFE-Mediaforeurope

Market Cap: €2.2b

Operates in the television industry in Italy and Spain.

Robot

Market Cap: €10.7m

A technology company, designs, manufactures, installs, and maintains systems for the automation and control of technical installations of buildings and the savings in Spain and internationally.