Fundamental Analyses, Contrarian Cashflows

Contrarian Cashflows

Fundamental Analyses

The purpose of Contrarian Cashflows is to document my investment research and share it with everyone who is interested in value investing. My long term aspiration for Contrarian Cashflows is to become a platform for professional investors and serious amateurs where they can get inspiration and discuss investing-related topics.
I plan to publish one company deep dive per month that is guided by my investment approach. All information I use for my write-ups is publicly available and most of the time directly sourced from public filings issued by the respective companies. To guarantee maximum transparency, for every post I provide a list of all used sources in the resources section.
Contrarian Cashflows is built around the principles of respect, honesty, open-mindedness and a touch of humour. Please consider these principles in any engagement interaction with me, other readers and the content on this blog. Misbehaviour is not tolerated.
If you want to reach out to me directly, the best way is via LinkedIn, Twitter or email. You can find the details at my homepage contrariancashflows.com

Equity Bottom-Up

Bassett Furniture Inds / Equity Bottom-Up

<ul><li>Bassett Furniture Industries (NASDAQ: BSET) is a 123-year-old, Virginia-headquartered, vertically integrated designer, manufacturer and retailer of residential furniture</li><li>Organized into Wholesale (three US-owned plants supplying its own stores plus ~1,000 independent dealers) and Retail (57 company-owned of 86 total Bassett Home Furnishings stores).</li><li>In October 2022 a private-equity-backed buyer, CSC Generation, offered $21/share cash for the whole company</li></ul>

Bassett Furniture Industries (NASDAQ: BSET) is a 123-year-old, Virginia-headquartered, vertically integrated designer, manufacturer and retailer of residential furnitureOrganized into Wholesale (three US-owned plants supplying its own stores plus ~1,000 independent dealers) and Retail (57 company-owned of 86 total Bassett Home Furnishings stores).In October 2022 a private-equity-backed buyer, CSC Generation, offered $21/share cash for the whole company

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.

<ul><li>In this edition: • TKH Group | strong start of the year, contrary to its guidance • TKH Group | awarded 162km inter-array cable order from Vattenfall and CIP • Kendrion | continues its revenue momentum into 2026 – solid profitability improvement • Brunel International | sets updated medium-term targets at CMD • PostNL | EUR 7m fine for failing to meet minimum delivery quality in 2023 • Dutch business confidence | steepest drop since 2022</li></ul>

In this edition: • TKH Group | strong start of the year, contrary to its guidance • TKH Group | awarded 162km inter-array cable order from Vattenfall and CIP • Kendrion | continues its revenue momentum into 2026 – solid profitability improvement • Brunel International | sets updated medium-term targets at CMD • PostNL | EUR 7m fine for failing to meet minimum delivery quality in 2023 • Dutch business confidence | steepest drop since 2022

<ul><li>In this edition: • InPost | reputation making steady progress in the UK • Arcadis | disappointing 25Q4 performance; to implement restructuring measure and refocus its strategy • Brunel International | intends to propose a super dividend of EUR 0.29 per share, bringing total to EUR 0.35 per share • E-commerce & online banking | a lot of websites use fingerprinting without prior consent</li></ul>

In this edition: • InPost | reputation making steady progress in the UK • Arcadis | disappointing 25Q4 performance; to implement restructuring measure and refocus its strategy • Brunel International | intends to propose a super dividend of EUR 0.29 per share, bringing total to EUR 0.35 per share • E-commerce & online banking | a lot of websites use fingerprinting without prior consent

Hennes & Mauritz AB - What's News in Amsterdam

Brunel International Nv / Equity Bottom-Up

<ul><li>In this edition: • SBM Offshore | main takeaways earnings call • Brunel International | strong FY24 free cash flow – optimism for FY25 a bit tempered?</li><li>• PostNL | reiterates its urgent appeal for a financial contribution from the Dutch state</li></ul>

In this edition: • SBM Offshore | main takeaways earnings call • Brunel International | strong FY24 free cash flow – optimism for FY25 a bit tempered?• PostNL | reiterates its urgent appeal for a financial contribution from the Dutch state

What's New(s) in Amsterdam - 21 February (SBM Offshore | Brunel Int'l | PostNL)

Netherlands

Brunel International NV supplies temporary employees.  The Company offers recruitment, temporary employment, secondment, and contracting services.  Brunel also provides consultancy services for legal, management and financial positions.  The Company specializes in servicing the information technology, energy, engineering, and non-technical fields.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Brunel International Nv (BRNL NA)

Monday Delight: 05/10/2026

Bassett Furniture Industries (NASDAQ: BSET) is a 123-year-old, Virginia-headquartered, vertically integrated designer, manufacturer and retailer...

Contrarian Cashflows

PostNL NV - What's News in Amsterdam

In this edition: • TKH Group | strong start of the year, contrary to its guidance • TKH Group | awarded 162km inter-array cable order from...

The IDEA!

Hennes & Mauritz AB - What's News in Amsterdam

In this edition: • InPost | reputation making steady progress in the UK • Arcadis | disappointing 25Q4 performance; to implement restructuring...

The IDEA!

What's New(s) in Amsterdam - 21 February (SBM Offshore | Brunel Int'l | PostNL)

In this edition: • SBM Offshore | main takeaways earnings call • Brunel International | strong FY24 free cash flow – optimism for FY25 a bit...

The IDEA!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)