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: • Heineken | has its eyes on Brouwerij Haacht • TKH Group | Mr. Grandi to succeed Mr. van de Lof as CEO, who is becoming CEO of TKH Electrification</li></ul>

In this edition: • Heineken | has its eyes on Brouwerij Haacht • TKH Group | Mr. Grandi to succeed Mr. van de Lof as CEO, who is becoming CEO of TKH Electrification

What's News in Amsterdam - 16 July (Heineken | TKH Group)

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Multi Bintang Indonesia / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/multi-bintang-indonesia-pt" target="_blank" data-smartkarma-citation="entities:11651:1" rel="noopener">Multi Bintang Indonesia (MLBI IJ)</a> experienced a massive inflection in its revenue with 21.9%/35% revenue/net profit growth as we approach the Q4 high season. </li>
<li>Earlier, parent <a href="https://www.smartkarma.com/entities/heineken-nv" target="_blank" data-smartkarma-citation="entities:21117:1" rel="noopener">Heineken NV (HEIA NA)</a> <a href="https://www.smartkarma.com/entities/heineken-holding-nv" target="_blank" data-smartkarma-citation="entities:21118:1" rel="noopener"></a> had flagged in its H1 2024 report that Indonesia was experiencing double-digit growth following excise duties implemented in January 2024.</li>
<li>Trading at 11.5x FY24/net cash with &gt;8% dividend yield and historical ROCEs averaging over 80%, we see a turning point in the share price now. </li>
</ul>



Multi Bintang Indonesia (MLBI IJ) experienced a massive inflection in its revenue with 21.9%/35% revenue/net profit growth as we approach the Q4 high season. 
Earlier, parent Heineken NV (HEIA NA)  had flagged in its H1 2024 report that Indonesia was experiencing double-digit growth following excise duties implemented in January 2024.
Trading at 11.5x FY24/net cash with &gt;8% dividend yield and historical ROCEs averaging over 80%, we see a turning point in the share price now. 


Multi Bintang (MLBI IJ): Massive Inflection in Q3 FY24 with Double Digit Growth !!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>
<a href="https://smartkarma.com/entities/heineken-holding-nv">Heineken Holding NV</a> provides a unique investment structure into the world's second-largest brewer, offering exposure to a globally diversified portfolio of over 300 brands, led by the iconic Heineken® brand.</li>
  <li>The company's 'EverGreen' strategy is focused on driving superior, balanced growth through premiumization, digital transformation, and expansion in high-growth emerging markets, particularly in Africa and Asia.</li>
  <li>While facing headwinds from input cost volatility, intense competition, and shifting consumer preferences towards health and wellness, the company's strong brand equity, global scale, and commitment to the fast-growing non-alcoholic segment provide a solid foundation for long-term value creation.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Heineken Holding NV provides a unique investment structure into the world's second-largest brewer, offering exposure to a globally diversified portfolio of over 300 brands, led by the iconic Heineken® brand.
  The company's 'EverGreen' strategy is focused on driving superior, balanced growth through premiumization, digital transformation, and expansion in high-growth emerging markets, particularly in Africa and Asia.
  While facing headwinds from input cost volatility, intense competition, and shifting consumer preferences towards health and wellness, the company's strong brand equity, global scale, and commitment to the fast-growing non-alcoholic segment provide a solid foundation for long-term value creation.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Heineken Holding NV (HEIO NA) - May 2026

Thematic (Sector/Industry)

<ul>
<li>Ahold Delhaize | demonstrated its resilience in 2Q26</li>
<li>Heineken | 1H26 results in broadly in line with consensus; momentum improving</li>
<li>Wolters Kluwer | solid first half year; reiterates FY26 guidance. TKH Group | two inter-array cable orders pending after Vattenfall’s award wins</li>
</ul>


Ahold Delhaize | demonstrated its resilience in 2Q26
Heineken | 1H26 results in broadly in line with consensus; momentum improving
Wolters Kluwer | solid first half year; reiterates FY26 guidance. TKH Group | two inter-array cable orders pending after Vattenfall’s award wins


Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Heineken N.V.'s recent half-year earnings showcased a period of mixed performance, marked by both significant achievements and persistent challenges across its global operations.</li><li>The company reported solid profit growth, driven particularly by strong performances in its Africa, Middle East (AME), and Asia Pacific (APAC) regions, but continued to face difficulties in Europe and the Americas due to various macroeconomic factors and operational challenges.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Heineken N.V.'s recent half-year earnings showcased a period of mixed performance, marked by both significant achievements and persistent challenges across its global operations.The company reported solid profit growth, driven particularly by strong performances in its Africa, Middle East (AME), and Asia Pacific (APAC) regions, but continued to face difficulties in Europe and the Americas due to various macroeconomic factors and operational challenges.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Heineken Is Betting Big on Health Trends—What It Means for the Future of Beer!

Netherlands

Heineken Holding NV, through its subsidiary produces and distributes beverages internationally.  The Company produces beers, spirits, wines, and soft drinks under various brand names. Heineken operates through numerous subsidiaries and associated companies worldwide.

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Heineken Holding NV (HEIO NA)

What's News in Amsterdam - 16 July (Heineken | TKH Group)

In this edition: • Heineken | has its eyes on Brouwerij Haacht • TKH Group | Mr. Grandi to succeed Mr. van de Lof as CEO, who is becoming CEO of...

The IDEA!

Multi Bintang (MLBI IJ): Massive Inflection in Q3 FY24 with Double Digit Growth !!

We summarise the superb Multibintang (MLBI IJ) results—trading at 11.4x FY24 with a >8% dividend yield and a 10-year average ROCE>80%; this is a...

Sameer Taneja

Primer: Heineken Holding NV (HEIO NA) - May 2026

Heineken Holding NV provides a unique investment structure into the world's second-largest brewer, offering exposure to a globally diversified...

αSK Primers

What's News in Amsterdam

Ahold Delhaize | demonstrated its resilience in 2Q26 Heineken | 1H26 results in broadly in line with consensus; momentum improving Wolters Kluwer...

The IDEA!

Heineken Is Betting Big on Health Trends—What It Means for the Future of Beer!

Heineken N.V.'s recent half-year earnings showcased a period of mixed performance, marked by both significant achievements and persistent...

Baptista Research

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