Spanish Potentially Undervalued Companies

Prosegur Compañía de Seguridad

Market Cap: €1.4b

Operates in the private security sector.

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.

Airbus

Market Cap: €138.1b

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

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.

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.

Promotora de Informaciones

Market Cap: €417.7m

Engages in the exploitation of media in Spain and internationally.

ArcelorMittal

Market Cap: €35.0b

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

Telefónica

Market Cap: €20.2b

Provides telecommunications services in Europe and Latin America.

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.

Global Dominion Access

Market Cap: €453.7m

Provides integral services for business process efficiency and sustainability worldwide.

Mapfre

Market Cap: €11.1b

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

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.

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.

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.

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.

Neinor Homes

Market Cap: €1.7b

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

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.

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.

Enagás

Market Cap: €3.8b

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

Petróleo Brasileiro - Petrobras

Market Cap: €570.1b

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

Aperam

Market Cap: €2.5b

Produces and sells stainless steel and alloy products worldwide.

Galil Capital RE Spain SOCIMI

Market Cap: €24.9m

Operates as a real estate investment company.

Trajano Iberia

Market Cap: €4.8m

A real estate investment trust.

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.