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: • Ahold Delhaize | Food manufacturers appeal to EC on alleged market power large retailers • KPN | CEO Ziggo Group expects broadband churn to end this year • SBM Offshore | partnership with Solstad Offshore for a new installation vessel • Arcadis | awarded EUR 90m design work for high-speed rail train depot in the UK • Bnode | distribution deal with Digi Belgium fits within the strategy for its branches • April retail sales | sharp drop in consumer confidence did not reflect in retail sales • Dutch CPI | up 3.5% YoY in May</li></ul>

In this edition: • Ahold Delhaize | Food manufacturers appeal to EC on alleged market power large retailers • KPN | CEO Ziggo Group expects broadband churn to end this year • SBM Offshore | partnership with Solstad Offshore for a new installation vessel • Arcadis | awarded EUR 90m design work for high-speed rail train depot in the UK • Bnode | distribution deal with Digi Belgium fits within the strategy for its branches • April retail sales | sharp drop in consumer confidence did not reflect in retail sales • Dutch CPI | up 3.5% YoY in May

<ul><li>In this edition: • BE Semiconductor Industries | order intake continues to develop strongly • Heineken | solid 1Q26, yet the macro environment increasingly challenging • RELX Group | good start of the year; reiterates FY26 guidance • Fugro | anticipates lower offshore wind activities • Vopak | solid 1Q26 shows resilient (yet not immune) business model • Triodos Bank | DNB removes the bank’s MREL requirements • Bnode | strike about to enter its fourth week</li></ul>

In this edition: • BE Semiconductor Industries | order intake continues to develop strongly • Heineken | solid 1Q26, yet the macro environment increasingly challenging • RELX Group | good start of the year; reiterates FY26 guidance • Fugro | anticipates lower offshore wind activities • Vopak | solid 1Q26 shows resilient (yet not immune) business model • Triodos Bank | DNB removes the bank’s MREL requirements • Bnode | strike about to enter its fourth week

<ul><li>In this edition: • Unilever | acquires Grüns; a strategic bolt-on in premium vitamins and minerals • AMG Critical Materials | raises EUR 110.5m selling 3.25m share in accelerated bookbuilding • Bnode | SFPIM endorses new strategic directions at Bnode and Proximus • E-commerce & Logistics | agentic shopping: the proof of the pudding in China?</li></ul>

In this edition: • Unilever | acquires Grüns; a strategic bolt-on in premium vitamins and minerals • AMG Critical Materials | raises EUR 110.5m selling 3.25m share in accelerated bookbuilding • Bnode | SFPIM endorses new strategic directions at Bnode and Proximus • E-commerce & Logistics | agentic shopping: the proof of the pudding in China?

Thematic (Sector/Industry)

<ul>
<li>In yesterday’s edition, we cited French customs data showing a 30-40% drop in small parcel volumes coming from China as a result of the abolition of the de minimis rule.</li>
<li>Dutch customs data for July and August show an even bigger drop in non-EU small parcel volumes of 46% versus the prior sixmonth average.</li>
<li>Dutch Customs reports that e-commerce platforms and sellers are increasingly consolidating shipments into containerised bulk imports, storing inventory within the EU, and then dispatching domestic or intra-EU parcels to end consumers. </li>
</ul>


In yesterday’s edition, we cited French customs data showing a 30-40% drop in small parcel volumes coming from China as a result of the abolition of the de minimis rule.
Dutch customs data for July and August show an even bigger drop in non-EU small parcel volumes of 46% versus the prior sixmonth average.
Dutch Customs reports that e-commerce platforms and sellers are increasingly consolidating shipments into containerised bulk imports, storing inventory within the EU, and then dispatching domestic or intra-EU parcels to end consumers. 


What's News in Amsterdam - 2 September (E-commerce & Logistics)

<ul><li>In this edition: • bnode | strong final quarter supports delivery on adj. EBIT guidance; Staci on track</li></ul>

In this edition: • bnode | strong final quarter supports delivery on adj. EBIT guidance; Staci on track

bpost SA - What's News in Amsterdam - 6 March (bnode)

Belgium

bpost SA provides postal delivery services. The Company delivers mail, packages, and parcels, as well as offers direct marketing, market surveys, business databases, and document services.

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bpost SA (BPOST BB)

bpost SA - What's News in Amsterdam

In this edition: • Ahold Delhaize | Food manufacturers appeal to EC on alleged market power large retailers • KPN | CEO Ziggo Group expects...

The IDEA!

bpost SA - What's News in Amsterdam

In this edition: • BE Semiconductor Industries | order intake continues to develop strongly • Heineken | solid 1Q26, yet the macro environment...

The IDEA!

bpost SA - What's New(s) in Amsterdam

In this edition: • Unilever | acquires Grüns; a strategic bolt-on in premium vitamins and minerals • AMG Critical Materials | raises EUR 110.5m...

The IDEA!

What's News in Amsterdam - 2 September (E-commerce & Logistics)

In yesterday’s edition, we cited French customs data showing a 30-40% drop in small parcel volumes coming from China as a result of the abolition...

The IDEA!

bpost SA - What's News in Amsterdam - 6 March (bnode)

In this edition: • bnode | strong final quarter supports delivery on adj. EBIT guidance; Staci on track

The IDEA!

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