Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland | announces small pensions buy-out deal • Philips | reiterates FY26 outlook – order intake increases again more than 5% • Wolters Kluwer | strong start of 2026; reconfirms FY26 guidance • Bnode | 1Q26 adjusted EBIT ahead of consensus; FY26 expected at lower end of guidance range</li></ul>

In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland | announces small pensions buy-out deal • Philips | reiterates FY26 outlook – order intake increases again more than 5% • Wolters Kluwer | strong start of 2026; reconfirms FY26 guidance • Bnode | 1Q26 adjusted EBIT ahead of consensus; FY26 expected at lower end of guidance range

<ul><li>In this edition: • Adyen | strong net revenue growth and take rate, both ahead of expectations • ASM International | clearly better than expected 25Q3 results, however, order intake well below consensus • InPost | High Court to rule on legal ownership dispute regarding Yodel • Philips | received warning letter from FDA after inspection at three facilities • Corbion | solid 25Q3 results – reiterates FY25 outlook guidance • PostNL/DHL/InPost | reliability of parcel delivery in the Netherlands is deteriorating • Dutch banking sector | Argenta believed to be interested in buying NIBC • Dutch General Elections | polls are predicting a close finish</li></ul>

In this edition: • Adyen | strong net revenue growth and take rate, both ahead of expectations • ASM International | clearly better than expected 25Q3 results, however, order intake well below consensus • InPost | High Court to rule on legal ownership dispute regarding Yodel • Philips | received warning letter from FDA after inspection at three facilities • Corbion | solid 25Q3 results – reiterates FY25 outlook guidance • PostNL/DHL/InPost | reliability of parcel delivery in the Netherlands is deteriorating • Dutch banking sector | Argenta believed to be interested in buying NIBC • Dutch General Elections | polls are predicting a close finish

ASM International NV - What's New(s) in Amsterdam

<ul><li>In this edition: • Adyen | revises its FY25 outlook downward • Ahold Delhaize | Amazon launches free same-day grocery delivery for US Prime members</li></ul>

In this edition: • Adyen | revises its FY25 outlook downward • Ahold Delhaize | Amazon launches free same-day grocery delivery for US Prime members

What's News in Amsterdam - 14 August (Adyen | Ahold Delhaize)

<ul><li>In this edition: • Adyen | solid 1Q25 revenue development – reiterates financial objectives • ASM International | better than expected gross margin and cost control resulting in a strong beat in operational profitability • AkzoNobel | PPG beats expectations and reaffirms FY25 guidance • dsm-firmenich | 1Q25 falls slightly short of market expectations; FY25 guidance intact • DHL | 1Q25 shows clear beat of consensus; external environment remains uncertain</li></ul>

In this edition: • Adyen | solid 1Q25 revenue development – reiterates financial objectives • ASM International | better than expected gross margin and cost control resulting in a strong beat in operational profitability • AkzoNobel | PPG beats expectations and reaffirms FY25 guidance • dsm-firmenich | 1Q25 falls slightly short of market expectations; FY25 guidance intact • DHL | 1Q25 shows clear beat of consensus; external environment remains uncertain

What's New(s) in Amsterdam - 30 April (Adyen | AkzoNobel | ASM Int'l | dsm-firmenich | DHL)

US Tech Company Research, MT Capital

MT Capital

US Tech Company Research

I demystify the world's most interesting tech companies, providing in-depth, no-nonsense, un-biased analysis on the most interesting Tech Companies available for investment today. I am a Mechanical Engineer by education, Software Engineer by trade and a self-trained Financial Analyst.

<ul><li>When I think about the world of tech, there is no shortage of products, developments, or innovations that deserve attention.</li><li>Some pieces of technology, when broken down, are extraordinarily complex and exist out in the open.</li><li>Others hide in plain sight, functioning in the shadows, but are still responsible for certain components of indispensable processes that allow our world to operate as we know it today.</li></ul>

When I think about the world of tech, there is no shortage of products, developments, or innovations that deserve attention.Some pieces of technology, when broken down, are extraordinarily complex and exist out in the open.Others hide in plain sight, functioning in the shadows, but are still responsible for certain components of indispensable processes that allow our world to operate as we know it today.

Netherlands

Adyen N.V. provides payment solutions. The Company offers a platform that enable merchants and businesses to process payments online, mobile, and point-of-sale systems with payment methods including card schemes, mobile wallets, and other local methods. Adyen serves customers worldwide.

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Adyen BV (ADYEN NA)

Adyen NV - What's News in Amsterdam

In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland |...

The IDEA!

ASM International NV - What's New(s) in Amsterdam

In this edition: • Adyen | strong net revenue growth and take rate, both ahead of expectations • ASM International | clearly better than expected...

The IDEA!

What's News in Amsterdam - 14 August (Adyen | Ahold Delhaize)

In this edition: • Adyen | revises its FY25 outlook downward • Ahold Delhaize | Amazon launches free same-day grocery delivery for US Prime members

The IDEA!

What's New(s) in Amsterdam - 30 April (Adyen | AkzoNobel | ASM Int'l | dsm-firmenich | DHL)

In this edition: • Adyen | solid 1Q25 revenue development – reiterates financial objectives • ASM International | better than expected gross...

The IDEA!

Adyen ($ADYEY, $ADYYF, $ADYEN)

When I think about the world of tech, there is no shortage of products, developments, or innovations that deserve attention.

MT Capital

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