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 | responds to analyst report following sharp share price drop • Heineken | Artisan Partners and First Eagle Investments prefer outsider as new CEO • ING Group | pioneering AI in Dutch mortgage underwriting • ING Group | appoints Andrea Cesaroni as Chief Risk Officer • KPN | Revolut to enter the Dutch market as a MVNO • M&A regulation | Dutch government proposes to expand foreign investment screening regime</li></ul>

In this edition: • Adyen | responds to analyst report following sharp share price drop • Heineken | Artisan Partners and First Eagle Investments prefer outsider as new CEO • ING Group | pioneering AI in Dutch mortgage underwriting • ING Group | appoints Andrea Cesaroni as Chief Risk Officer • KPN | Revolut to enter the Dutch market as a MVNO • M&A regulation | Dutch government proposes to expand foreign investment screening regime

What's News in Amsterdam - 8 June (Adyen | Heineken | ING | KPN | M&A regulation)

<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

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul>
<li>Hillhouse has paused its significant $725 million acquisition attempt for IGIS amid market changes.</li>
<li>ESR and Mitsubishi are investing $80 million in Indonesia to improve logistics infrastructure projects.</li>
<li>Redevco has named Neil Slater as CEO after an extensive year-long search for the leadership position.</li>
</ul>


Hillhouse has paused its significant $725 million acquisition attempt for IGIS amid market changes.
ESR and Mitsubishi are investing $80 million in Indonesia to improve logistics infrastructure projects.
Redevco has named Neil Slater as CEO after an extensive year-long search for the leadership position.


Asia Real Estate Tracker (08-Jul-2026): Hillhouse halts $725M bid for Korea's IGIS.

<ul>
<li>ABN Amro | post earnings call comment In yesterday’s initial comment on the bank’s 4Q25 and FY25 results, we concluded that an investment in ABN Amro will require some patience.</li>
<li>A closer look at the results and the main takeaways from the earnings call have strengthened our confidence that the bank is taking the right steps in the implementation of its strategy.</li>
<li>Cost savings are well on track with 30% (or ~1,500) of the FTE reductions for 2028 had already been realized by YE25. More than one-third (580 FTE) of this was realized in 4Q25.</li>
</ul>


ABN Amro | post earnings call comment In yesterday’s initial comment on the bank’s 4Q25 and FY25 results, we concluded that an investment in ABN Amro will require some patience.
A closer look at the results and the main takeaways from the earnings call have strengthened our confidence that the bank is taking the right steps in the implementation of its strategy.
Cost savings are well on track with 30% (or ~1,500) of the FTE reductions for 2028 had already been realized by YE25. More than one-third (580 FTE) of this was realized in 4Q25.


<ul><li>In this edition: • Adyen | reiterates its FY26 as well as mid-term outlook on revenue and EBITDA-margin • Heineken | brewer Haacht’s turnaround takes hold • Basic-Fit | completes acquisition of wellyou • Triodos Bank | improvements in 1H26 reflect first steps in its transformation • Allegro | Allegro Packaging Standard: new seller badge and pack store rollout</li></ul>

In this edition: • Adyen | reiterates its FY26 as well as mid-term outlook on revenue and EBITDA-margin • Heineken | brewer Haacht’s turnaround takes hold • Basic-Fit | completes acquisition of wellyou • Triodos Bank | improvements in 1H26 reflect first steps in its transformation • Allegro | Allegro Packaging Standard: new seller badge and pack store rollout

What's News in Amsterdam - 13 August (Adyen | Heineken | Basic-Fit | Triodos Bank | Allegro)

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)

What's News in Amsterdam - 8 June (Adyen | Heineken | ING | KPN | M&A regulation)

In this edition: • Adyen | responds to analyst report following sharp share price drop • Heineken | Artisan Partners and First Eagle Investments...

The IDEA!

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!

Asia Real Estate Tracker (08-Jul-2026): Hillhouse halts $725M bid for Korea's IGIS.

Hillhouse has paused its significant $725 million acquisition attempt for IGIS amid market changes. ESR and Mitsubishi are investing $80 million...

Asia Real Estate Tracker

What's News in Amsterdam

ABN Amro | post earnings call comment In yesterday’s initial comment on the bank’s 4Q25 and FY25 results, we concluded that an investment in ABN...

The IDEA!

What's News in Amsterdam - 13 August (Adyen | Heineken | Basic-Fit | Triodos Bank | Allegro)

In this edition: • Adyen | reiterates its FY26 as well as mid-term outlook on revenue and EBITDA-margin • Heineken | brewer Haacht’s turnaround...

The IDEA!

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