The Best European Quality Compounders

Guys, you already know about my obsession with quality compounders. A couple of days ago, we had a great discussion about the best compounders, but we focused primarily on US stocks. Now, I want to bring the focus in EU: **what are, in your opinion, the absolute best European compounders?** I’m looking for companies that meet three strict criteria: 1. **High, consistent ROIC:** No capital-burners; I want machines that generate wealth efficiently. 2. **Exceptional Management:** Leaders who know how to allocate capital for the longterm . 3. **A Defensible Moat:** It doesn't have to be the "ASML level" of untouchability for everyone, but there must be a clear, tangible competitive advantage. **One ground rule:** I’m looking for companies with an impressive track record. Let’s skip stocks that have underperformed or barely managed a +100% gain over the last 20 years because that’s not what I’d call a "compounder." My portfolio is limited to about 20 positions, so my selection process is ruthless: before a stock even gets on my watchlist, it needs to truly stand out. To kick things off, here are the ones already on my watchlist:  ASML, Safran, , Hermès, LVMH, Ferrari (RACE), Lotus Bakeries, Games Workshop,Deutsche Börse, RELX, Wolters Kluwer, Investor AB, Novo Nordisk, Evolution AB, Lifco AB, Dino Polska, Assa Abloy, GTT i didnt put SAP in this list just because it’s up 400% since IPO 25 years ago so that’s not a compounder for me Now it’s your turn. Which other European gems deserve to be on this list? I’m really curious to see if you have any "pearls" I might have missed!