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 | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in Zinnwald Lithium to 29.6% • PostNL | House committees to meet today on which topics to declare controversial • E-commerce / E-com logistics | online spending in the Netherlands up 4% YoY in 1Q25</li></ul>

In this edition: • Heineken | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in Zinnwald Lithium to 29.6% • PostNL | House committees to meet today on which topics to declare controversial • E-commerce / E-com logistics | online spending in the Netherlands up 4% YoY in 1Q25

What's New(s) in Amsterdam - 18 June (Heineken | AMG Critical Materials | PostNL | E-com/logistics)

BE Semiconductor Industries NV / Equity Bottom-Up

<ul><li>In today's edition: • ABN Amro | restructuring within Corporate Banking • BE Semiconductor Industries | increases long-term financial targets • Heineken | intends to invest USD 2.75bn in Mexico until 2028 • KPN | VodafoneZiggo secures access to part of Delta Fiber’s network • KPN | CEO denounces ‘populistic discussion’ on high broadband tariffs • InPost | court dismisses motion for injunction against Yodel • DHL | CMA to start DHL/EVRi merger inquiry</li></ul>

In today's edition: • ABN Amro | restructuring within Corporate Banking • BE Semiconductor Industries | increases long-term financial targets • Heineken | intends to invest USD 2.75bn in Mexico until 2028 • KPN | VodafoneZiggo secures access to part of Delta Fiber’s network • KPN | CEO denounces ‘populistic discussion’ on high broadband tariffs • InPost | court dismisses motion for injunction against Yodel • DHL | CMA to start DHL/EVRi merger inquiry

<ul><li>In this edition: • Heineken | Femsa exits Heineken after 15 years • InPost | High Court injunction: Yodel acquisition placed on pause • InPost/PostNL/DHL | 22% Dutch online shoppers abandon shopping carts due to delivery concerns • E-commerce/E-commerce logistics | EU to impose EUR 2 tax on low-cost items from China • Consumer confidence | stabilized at 19 months’ low in May</li></ul>

In this edition: • Heineken | Femsa exits Heineken after 15 years • InPost | High Court injunction: Yodel acquisition placed on pause • InPost/PostNL/DHL | 22% Dutch online shoppers abandon shopping carts due to delivery concerns • E-commerce/E-commerce logistics | EU to impose EUR 2 tax on low-cost items from China • Consumer confidence | stabilized at 19 months’ low in May

<ul><li>In this edition: • ABN Amro | strong finish of the year in income; costs inflated by incidentals • Ahold Delhaize | strong performance Europe, US disappoints; outlook no surprises • Heineken | clear beat of market expectations; EUR 1.5bn share buyback • Randstad | challenging trading conditions resulting in additional write-downs, impairments and integration costs – proposes its floor dividend • Shell | Milieudefensie turns to Dutch Supreme Court in climate case</li></ul>

In this edition: • ABN Amro | strong finish of the year in income; costs inflated by incidentals • Ahold Delhaize | strong performance Europe, US disappoints; outlook no surprises • Heineken | clear beat of market expectations; EUR 1.5bn share buyback • Randstad | challenging trading conditions resulting in additional write-downs, impairments and integration costs – proposes its floor dividend • Shell | Milieudefensie turns to Dutch Supreme Court in climate case

Randstad Holding NV - What's News in Amsterdam

<ul><li>In today's edition: • Heineken | stops selling beer in the Indian state of Telangana • NN Group | completes sale of its Turkish operations • Havas | ups FY24 guidance • bpostgroup | bpost offers packaging and label-free (L2L) shipping • Triodos Bank | offers a package of measures to its depository receipts (“DR”) holders • Dutch housing market | more homes sold in FY24; average transaction price up 11.5% YoY</li></ul>

In today's edition: • Heineken | stops selling beer in the Indian state of Telangana • NN Group | completes sale of its Turkish operations • Havas | ups FY24 guidance • bpostgroup | bpost offers packaging and label-free (L2L) shipping • Triodos Bank | offers a package of measures to its depository receipts (“DR”) holders • Dutch housing market | more homes sold in FY24; average transaction price up 11.5% YoY

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 New(s) in Amsterdam - 18 June (Heineken | AMG Critical Materials | PostNL | E-com/logistics)

In this edition: • Heineken | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in...

The IDEA!

What's News in Amsterdam - 12 June (ABN Amro | Besi | Heineken | KPN | InPost | DHL)

In today's edition: • ABN Amro | restructuring within Corporate Banking • BE Semiconductor Industries | increases long-term financial...

The IDEA!

Zalando SE - What's News in Amsterdam

In this edition: • Heineken | Femsa exits Heineken after 15 years • InPost | High Court injunction: Yodel acquisition placed on...

The IDEA!

Randstad Holding NV - What's News in Amsterdam

In this edition: • ABN Amro | strong finish of the year in income; costs inflated by incidentals • Ahold Delhaize | strong performance Europe, US...

The IDEA!

What's News in Amsterdam - 10 January (Heineken | NN Group | Havas | bpostgroup | Triodos Bank | Dutch housing market)

In today's edition: • Heineken | stops selling beer in the Indian state of Telangana • NN Group | completes sale of its Turkish operations • Havas...

The IDEA!

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