Italian Undervalued based on future growth

Iveco Group

Market Cap: €5.0b

Engages in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses and specialty vehicles, combustion engines, alternative propulsion systems, transmissions, axles, engines, alternative propulsion systems, construction equipment, marine, and power generation applications in Europe, South America, North America, and internationally.

Nexi

Market Cap: €3.9b

Provides electronic money and payment services to banks, small and medium-sized enterprises, large international corporations, institutions, and public administrations in Italy, Nordics and Baltics, Germany, Austria, Switzerland, Poland, Southeast Europe, and internationally.

MFE-Mediaforeurope

Market Cap: €2.3b

Operates in the television industry in Italy and Spain.

BFF Bank

Market Cap: €881.8m

Engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.

Zignago Vetro

Market Cap: €708.8m

Produces, markets, and sells hollow glass containers in Italy, rest of Europe, and internationally.

Next Geosolutions Europe

Market Cap: €636.0m

Provides marine geoscience and offshore construction support services in Europe, Asia, and North America.

Piaggio & C

Market Cap: €611.9m

Engages in development, manufacture, and distribution of two-wheeler and commercial motor vehicles.

CIR. - Compagnie Industriali Riunite

Market Cap: €608.2m

Through its subsidiaries, primarily operates in the automotive components and healthcare sectors in Italy, the rest of European countries, North America, South America, Asia, and internationally.

Immobiliare Grande Distribuzione SIIQ

Market Cap: €413.2m

Immobiliare Grande Distribuzione SIIQ S.p.A.

Sogefi

Market Cap: €370.4m

Designs, develops, and produces filtration systems, suspension components, air intake products, and engine cooling systems for the automotive industry in Europe, South America, North America, China, and internationally.

TXT e-solutions

Market Cap: €311.1m

Provides software and service solutions in Italy and internationally.

Esprinet

Market Cap: €309.0m

Engages in the wholesale distribution of information technology (IT) products and consumer electronics in Italy, Spain, Portugal, and rest of Europe.

Digital Value

Market Cap: €289.2m

Provides information and communication technology (ICT) solutions and services in Italy.

TREVI - Finanziaria Industriale

Market Cap: €223.0m

Operates in the soil engineering field.

Italian Sea Group

Market Cap: €220.7m

Operates in the yachting industry.

Emak

Market Cap: €151.6m

Manufactures and distributes machines, components, and accessories for gardening, agriculture, forestry, and industries worldwide.

Altea Green Power

Market Cap: €132.9m

Supplies and manages renewable energy plants in Italy and the United States.

Recupero Etico Sostenibile

Market Cap: €93.7m

Provides waste management services in Italy.

Edil San Felice

Market Cap: €88.0m

Engages in the civil and industrial construction business in Italy.

Dexelance

Market Cap: €83.0m

Develops and promotes a hub of Italian design furniture and lightings.

Star7

Market Cap: €77.4m

Provides engineering, product knowledge, global content, and printing services worldwide.

Centrale del Latte d'Italia

Market Cap: €72.8m

Engages in the production, treatment, processing, and sale of milk, dairy, and food products in Italy, Germany, and internationally.

Iniziative Bresciane

Market Cap: €65.8m

Engages in the design, construction, and management of medium and small-sized hydroelectric plants in Italy.

ILPRA

Market Cap: €64.4m

Engages in the design, production, and sale of packaging machines worldwide.

IRCE

Market Cap: €57.1m

Engages in manufacturing and selling of winding wires and electrical cables in Italy, rest of European Union, and internationally.

Cyberoo

Market Cap: €52.6m

Provides managed and cyber security services in Italy.

Svas Biosana

Market Cap: €46.3m

SVAS Biosana S.p.A. engages in the production and marketing of medical devices worldwide.

ErreDue

Market Cap: €45.9m

Provides on-site gas generation and purification products in Italy.

DBA Group

Market Cap: €42.8m

Provides consultancy, architecture, engineering, and project management services.

Promotica

Market Cap: €42.5m

Operates in the loyalty marketing sector in Italy.

Kruso Kapital

Market Cap: €42.1m

Operates as a bank that provides financing services.

Ecosuntek

Market Cap: €40.4m

Engages in the photovoltaic electricity generation activities in Italy and internationally.

Gabetti Property Solutions

Market Cap: €38.1m

Through its subsidiaries, provides real estate services in Italy and internationally.

Maps

Market Cap: €37.6m

A software solution provider, designs and develops technological solutions to support decision-making processes in public and private businesses and organizations.

DigiTouch

Market Cap: €26.8m

Provides digital marketing and digital transformation services in Italy.

Borgosesia

Market Cap: €26.7m

Primarily invests in non-performing and alternative assets.