Spanish Potentially Undervalued Companies

Global Dominion Access

Market Cap: €488.9m

Provides integral services for business process efficiency and sustainability worldwide.

CIE Automotive

Market Cap: €2.9b

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

Vocento

Market Cap: €74.7m

Operates as a multimedia communications company in Spain.

Laboratorios Farmaceuticos Rovi

Market Cap: €2.7b

Manufactures, sells, and markets pharmaceutical products in Spain, European Union, OECD countries, and internationally.

MFE-Mediaforeurope

Market Cap: €1.8b

Operates in the television industry in Italy and Spain.

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €88.6b

Through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil.

Minor Hotels Europe & Americas

Market Cap: €2.8b

Operates hotels in Spain, Italy, Southern Europe, the United States, Central Europe, Benelux, Latin America, and Central Services.

Mapfre

Market Cap: €10.6b

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

Ebro Foods

Market Cap: €2.7b

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

Telefónica

Market Cap: €25.4b

Provides telecommunications services in Europe and Latin America.

Grupo Catalana Occidente

Market Cap: €5.8b

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

Aedas Homes

Market Cap: €933.2m

Engages in the development of residential properties in Spain.

Neoenergia

Market Cap: €28.5b

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

Prosegur Cash

Market Cap: €1.3b

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.

Bradespar

Market Cap: €6.2b

Through its interest in VALE, operates as a mining company in the production of iron ore and pellets, and nickel in Brazil.

Atresmedia Corporación de Medios de Comunicación

Market Cap: €1.1b

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: €17.7b

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.

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.

Plásticos Compuestos

Market Cap: €12.0m

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.

Nicolás Correa

Market Cap: €130.1m

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

Grupo Financiero Banorte. de

Market Cap: €449.5b

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

Banco Bilbao Vizcaya Argentaria

Market Cap: €73.5b

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: €2.0b

Produces and sells stainless steel and alloy products worldwide.

Construcciones y Auxiliar de Ferrocarriles

Market Cap: €1.7b

Construcciones y Auxiliar de Ferrocarriles, S.A.

Petróleo Brasileiro - Petrobras

Market Cap: €419.1b

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

Obrascón Huarte Lain

Market Cap: €430.0m

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.

VBARE Iberian Properties SOCIMI

Market Cap: €26.0m

A multi-family residential REIT company.

Trajano Iberia Socimi

Market Cap: €4.4m

A real estate investment trust.

Inmocemento

Market Cap: €1.7b

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

Prim

Market Cap: €207.6m

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

Robot

Market Cap: €6.8m

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

Mistral Iberia Real Estate SOCIMI

Market Cap: €19.8m

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

Galil Capital RE Spain SOCIMI

Market Cap: €24.9m

Operates as a real estate investment company.

Ferrovial

Market Cap: €33.1b

Engages in the design, construction, financing, operation, and maintenance of transport infrastructure and urban services internationally.

Viscofan

Market Cap: €2.7b

Manufactures, produces, and distributes casings.

Banco de Sabadell

Market Cap: €15.3b

Provides banking products and services to personal, business, and private customers in Spain and internationally.