Croatian Potentially Undervalued Companies

KONCAR - Elektroindustrija d.d

Market Cap: €1.7b

Provides products, services, and solutions for power generation, power transmission and distribution, urban mobility and infrastructure, and digital solutions and platforms in Croatia.

Koncar - distributivni i specijalni transformatori d.d

Market Cap: €1.7b

Together with its subsidiary, engages in the design, production, sale, and servicing of distribution, special, and medium power transformers.

ING-GRAD d.d

Market Cap: €229.3m

Engages in construction business in Croatia.

Agram banka d.d

Market Cap: €72.5m

Provides various banking products and services in the Republic of Croatia.

ALPHA ADRIATIC d.d

Market Cap: €5.6m

Provides maritime transportation services in Croatia.

Slatinska Banka d.d

Market Cap: €14.2m

Provides banking products and services in Croatia.

Istarska kreditna banka Umag d.d

Market Cap: €69.6m

Provides various banking products and services to individuals, corporates, and small business customers in Croatia.

Ericsson Nikola Tesla d.d

Market Cap: €262.5m

Provides communication products, solutions, and software in the Republic of Croatia, Bosnia and Herzegovina, and Central and Eastern Europe.

AD Plastik d.d

Market Cap: €85.0m

Develops, produces, and sells interior and exterior automotive components in Slovenia, Romania, Russia, France, Hungary, Italy, the United Kingdom, Germany, Spain, Serbia, Czech Republic, Vietnam, Slovakia, Croatia, Poland, the United States, and internationally.

Institut IGH d.d

Market Cap: €19.3m

A consulting company, engages in the design and engineering activities in the civil engineering sector in Croatia and internationally.

CIAK Grupa d.d

Market Cap: €127.3m

CIAK Grupa d.d., together with its subsidiaries, wholesale and retail of automotive parts.

Atlantic Grupa d.d

Market Cap: €556.9m

Engages in the research, development, production, and distribution of fast moving consumer goods in Southeast Europe, the European markets, Russia, and the Commonwealth of Independent States.

GARDEN BREWERY d.d

Market Cap: €6.7m

Produces craft beer.

Cakovecki mlinovi d.d

Market Cap: €189.0m

Produces and trades food products in Croatia.

Span d.d

Market Cap: €130.2m

Provides information technology (IT) solutions to companies in Croatia, Slovenia, the United States, the United Kingdom, Ukraine, and internationally.

Auto Hrvatska d.d

Market Cap: €120.5m

Through its subsidiaries, engages in the sale of vehicles, spare parts, parts, tires, tools, and service equipment in Croatia, Slovenia, Bosnia, and Herzegovina and North Macedonia.