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.

Thematic (Sector/Industry)

<ul>
<li>Ahold Delhaize’s results came in a bit better than expected, whereby especially the margin development in the US was the main (positive) surprise.</li>
<li>The margin in Europe was flat. Also impressive was the growth in online sales, both in Europe and the US.</li>
<li>The company reiterated its guidance for FY25 and announced a new EUR 1bn share buyback for 2026.</li>
</ul>


Ahold Delhaize’s results came in a bit better than expected, whereby especially the margin development in the US was the main (positive) surprise.
The margin in Europe was flat. Also impressive was the growth in online sales, both in Europe and the US.
The company reiterated its guidance for FY25 and announced a new EUR 1bn share buyback for 2026.


<ul>
<li>Ahold Delhaize | clear market leader in online in the Netherlands Yesterday, Twinkle – an online platform on e-commerce – published its annual list of the 10 largest online sellers in the Netherlands.</li>
<li>Like last year, Ahold Delhaize’s bol and Albert Heijn ranked #1 and #2 on this list and even managed to extend their lead over the companies occupying the next three ranks.</li>
<li>Most remarkable is the almost 17% drop in Amazon’s revenues. </li>
</ul>


Ahold Delhaize | clear market leader in online in the Netherlands Yesterday, Twinkle – an online platform on e-commerce – published its annual list of the 10 largest online sellers in the Netherlands.
Like last year, Ahold Delhaize’s bol and Albert Heijn ranked #1 and #2 on this list and even managed to extend their lead over the companies occupying the next three ranks.
Most remarkable is the almost 17% drop in Amazon’s revenues. 


Equity Bottom-Up

<ul><li>In this edition: • Arcadis | independence backed by employee shareholders amid WSP approaches • Allegro | direct presence in China to tighten seller control and capture tech edge • Dutch housing market | more price cuts signal normalization, not yet falling prices • Dutch wage inflation | FNV pushes for 5.5% plus EUR 80, raising upside risk to labour costs</li></ul>

In this edition: • Arcadis | independence backed by employee shareholders amid WSP approaches • Allegro | direct presence in China to tighten seller control and capture tech edge • Dutch housing market | more price cuts signal normalization, not yet falling prices • Dutch wage inflation | FNV pushes for 5.5% plus EUR 80, raising upside risk to labour costs

What's News in Amsterdam - 15 September (Arcadis | Allegro | Dutch housing market | Wage inflation)

<ul>
<li>In an interview with Reuters, ING’s CEO Steven van Rijswijk said his bank is exploring acquisitions in major European markets, including Germany, Italy, and Spain, to expand its presence.</li>
<li>"We would be looking firstly at businesses that offer certain products, operate predominantly in geographical markets where we are already active and have a strong digital footprint," the CEO told Reuters.</li>
<li>Van Rijswijk declined to name any potential targets.</li>
</ul>


In an interview with Reuters, ING’s CEO Steven van Rijswijk said his bank is exploring acquisitions in major European markets, including Germany, Italy, and Spain, to expand its presence.
"We would be looking firstly at businesses that offer certain products, operate predominantly in geographical markets where we are already active and have a strong digital footprint," the CEO told Reuters.
Van Rijswijk declined to name any potential targets.


What's New(S) In Amsterdam - 4 February 2025 (ING | Fagron | TomTom | Bpostgroup)

Oesterreichische Post Ag / Equity Bottom-Up

<ul><li>In this edition: • Ahold Delhaize | Amazon’s EU active reach softens slightly, albeit not in the Netherlands • PostNL | Křetínský’s total (direct and indirect) stake in PostNL has diluted to 29.64% • Bnode | PPP expands into parcel delivery • Austrian Post | settlement with Republic of Austria removes legacy uncertainty</li></ul>

In this edition: • Ahold Delhaize | Amazon’s EU active reach softens slightly, albeit not in the Netherlands • PostNL | Křetínský’s total (direct and indirect) stake in PostNL has diluted to 29.64% • Bnode | PPP expands into parcel delivery • Austrian Post | settlement with Republic of Austria removes legacy uncertainty

What's News in Amsterdam - 14 September (Ahold Delhaize | PostNL | Bnode | Austrian Post)

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)

What's New(s) in Amsterdam

Ahold Delhaize’s results came in a bit better than expected, whereby especially the margin development in the US was the main (positive) surprise.

The IDEA!

What's News in Amsterdam

Like last year, Ahold Delhaize’s bol and Albert Heijn ranked #1 and #2 on this list and even managed to extend their lead over the companies...

The IDEA!

What's News in Amsterdam - 15 September (Arcadis | Allegro | Dutch housing market | Wage inflation)

In this edition: • Arcadis | independence backed by employee shareholders amid WSP approaches • Allegro | direct presence in China to tighten...

The IDEA!

What's New(S) In Amsterdam - 4 February 2025 (ING | Fagron | TomTom | Bpostgroup)

In an interview with Reuters, ING’s CEO Steven van Rijswijk said his bank is exploring acquisitions in major European markets, including Germany,...

The IDEA!

What's News in Amsterdam - 14 September (Ahold Delhaize | PostNL | Bnode | Austrian Post)

In this edition: • Ahold Delhaize | Amazon’s EU active reach softens slightly, albeit not in the Netherlands • PostNL | Křetínský’s total (direct...

The IDEA!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)