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 | 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: • ABN Amro | Bloomberg cites rumours on potential interest from KBC • ASM International | provides new targets for 2030 but revises 2H25 guidance • Heineken | strengthening its position in Central America with FIFCO deal</li></ul>

In this edition: • ABN Amro | Bloomberg cites rumours on potential interest from KBC • ASM International | provides new targets for 2030 but revises 2H25 guidance • Heineken | strengthening its position in Central America with FIFCO deal

What's News in Amsterdam - 23 September 2025 (ABN Amro | ASM International | Heineken)

BE Semiconductor Industries NV / Equity Bottom-Up

<ul><li>In this edition: • ASM International – ASML Holding – BE Semiconductor Industries | WSTS revises its outlook for worldwide semiconductor market strongly upward • Magnum Ice Cream Company | more details on upcoming listing • PostNL / Ahold Delhaize | EUR 2 levy on non-EU parcels effective as of 1 January 2026</li></ul>

In this edition: • ASM International – ASML Holding – BE Semiconductor Industries | WSTS revises its outlook for worldwide semiconductor market strongly upward • Magnum Ice Cream Company | more details on upcoming listing • PostNL / Ahold Delhaize | EUR 2 levy on non-EU parcels effective as of 1 January 2026

What's New(s) in Amsterdam - 4 December (ASM Int'l | ASML | Besi | MICC | PostNL/Ahold Delhaize)

<ul><li>In this edition: • ASM International / ASML Holding / BE Semiconductor Industries | brightened outlook for semiconductor equipment sales • Black Friday/Sinterklaas update | fewer debit card payments during Sinterklaas week</li></ul>

In this edition: • ASM International / ASML Holding / BE Semiconductor Industries | brightened outlook for semiconductor equipment sales • Black Friday/Sinterklaas update | fewer debit card payments during Sinterklaas week

What's New(s) in Amsterdam - 9 December (ASM International | ASML Holding | BE Semiconductor Industries | Black Friday/Sinterklaas update)

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>August's WSTS semiconductor revenues registered a record high of more than $53 billion</li>
<li>Nobody seemed to notice, including the organization making the announcement</li>
<li>There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales</li>
</ul>


August's WSTS semiconductor revenues registered a record high of more than $53 billion
Nobody seemed to notice, including the organization making the announcement
There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales


Semis Just Broke a Record.  Why Did Nobody Notice?

Netherlands

ASM International N.V. develops, manufactures, markets, and services machines used to produce semiconductors.  The Company manufactures machines that process silicon wafers, and assemble and package semiconductors.  ASM operates in Europe, the United States, Japan, and elsewhere in Asia.

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Asm International Nv (ASM NA)

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 - 23 September 2025 (ABN Amro | ASM International | Heineken)

In this edition: • ABN Amro | Bloomberg cites rumours on potential interest from KBC • ASM International | provides new targets for 2030 but...

The IDEA!

What's New(s) in Amsterdam - 4 December (ASM Int'l | ASML | Besi | MICC | PostNL/Ahold Delhaize)

In this edition: • ASM International – ASML Holding – BE Semiconductor Industries | WSTS revises its outlook for worldwide semiconductor market...

The IDEA!

What's New(s) in Amsterdam - 9 December (ASM International | ASML Holding | BE Semiconductor Industries | Black Friday/Sinterklaas update)

In this edition: • ASM International / ASML Holding / BE Semiconductor Industries | brightened outlook for semiconductor equipment sales • Black...

The IDEA!

Semis Just Broke a Record. Why Did Nobody Notice?

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

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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 - 23 September 2025 (ABN Amro | ASM International | Heineken)

In this edition: • ABN Amro | Bloomberg cites rumours on potential interest from KBC • ASM International | provides new targets for 2030 but...

The IDEA!

What's New(s) in Amsterdam - 4 December (ASM Int'l | ASML | Besi | MICC | PostNL/Ahold Delhaize)

In this edition: • ASM International – ASML Holding – BE Semiconductor Industries | WSTS revises its outlook for worldwide semiconductor market...

The IDEA!

What's New(s) in Amsterdam - 9 December (ASM International | ASML Holding | BE Semiconductor Industries | Black Friday/Sinterklaas update)

In this edition: • ASM International / ASML Holding / BE Semiconductor Industries | brightened outlook for semiconductor equipment sales • Black...

The IDEA!

Semis Just Broke a Record. Why Did Nobody Notice?

​August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...