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: • BE Semiconductor Industries | expects order intake to increase significantly in 25Q3 • ING | Tanate Phutrakul to step down as CFO at 2026 AGM • KPN | post earnings call comment • RELX Group | another strong half year; solid outlook for 2H25 • Aalberts | lowers FY25 organic revenue growth and EBITA-margin outlook • e-Commerce and Logistics | pressure building on Chinese platforms selling unsafe goods • Consumer confidence | Dutch consumers less negative in July</li></ul>

In this edition: • BE Semiconductor Industries | expects order intake to increase significantly in 25Q3 • ING | Tanate Phutrakul to step down as CFO at 2026 AGM • KPN | post earnings call comment • RELX Group | another strong half year; solid outlook for 2H25 • Aalberts | lowers FY25 organic revenue growth and EBITA-margin outlook • e-Commerce and Logistics | pressure building on Chinese platforms selling unsafe goods • Consumer confidence | Dutch consumers less negative in July

Koninklijke KPN NV - What's New(s) in Amsterdam

<ul><li>In this edition: • ABN Amro / ING | EC is intensifying its crackdown on national interference in bank mergers • AkzoNobel | said to be the only strategic potential bidder for BASF’s coatings unit • Van Lanschot Kempen | acquires Wilton Family Office • PostNL | Mail division’s head: Dutch postal services could face the same fate as Denmark’s • Corporate calendar | week 30 - 35</li></ul>

In this edition: • ABN Amro / ING | EC is intensifying its crackdown on national interference in bank mergers • AkzoNobel | said to be the only strategic potential bidder for BASF’s coatings unit • Van Lanschot Kempen | acquires Wilton Family Office • PostNL | Mail division’s head: Dutch postal services could face the same fate as Denmark’s • Corporate calendar | week 30 - 35

<ul><li>In this edition: • ABN Amro | completes the acquisition of Hauck Aufhäuser Lampe • ING | cutting 230 senior roles globally within its Wholesale Banking • InPost | EVRi intends to deploy 10,000 APMs by 2030 • PostNL | proposed changes in postal legislation do not go down well at PostNL • Dutch retail sales | up 2.2% YoY in May; sales volume down 2.2% • Dutch inflation | continued to trend down in June</li></ul>

In this edition: • ABN Amro | completes the acquisition of Hauck Aufhäuser Lampe • ING | cutting 230 senior roles globally within its Wholesale Banking • InPost | EVRi intends to deploy 10,000 APMs by 2030 • PostNL | proposed changes in postal legislation do not go down well at PostNL • Dutch retail sales | up 2.2% YoY in May; sales volume down 2.2% • Dutch inflation | continued to trend down in June

<ul><li>In this edition: • Unilever | agrees to buy Dr. Squatch from Summit Partners</li></ul>

In this edition: • Unilever | agrees to buy Dr. Squatch from Summit Partners

What's News in Amsterdam - 24 June (Unilever)

<ul><li>In this edition: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD 3.5bn share buyback • Unilever | CEO pledges to accelerate the execution of the company’s strategy • Aalberts | tough start of the year – building shows first signs of recovery • Aalberts | completes acquisition of Paulo Products Company • March retail sales | +3.4% YoY in value and +1.0% YoY in volume terms • Dutch CPI | +4.1% in April • e-Commerce (logistics) sector | France considering imposing tax on small Chinese parcels</li></ul>

In this edition: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD 3.5bn share buyback • Unilever | CEO pledges to accelerate the execution of the company’s strategy • Aalberts | tough start of the year – building shows first signs of recovery • Aalberts | completes acquisition of Paulo Products Company • March retail sales | +3.4% YoY in value and +1.0% YoY in volume terms • Dutch CPI | +4.1% in April • e-Commerce (logistics) sector | France considering imposing tax on small Chinese parcels

Netherlands

ING Groep N.V. offers financial services to individuals, corporations, and other institutions.  The Company offers corporate, investment, and private banking services, asset and portfolio management, treasury services, and insurance.  ING Groep has offices throughout the world.

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ING Groep NV (INGA NA)

Koninklijke KPN NV - What's New(s) in Amsterdam

In this edition: • BE Semiconductor Industries | expects order intake to increase significantly in 25Q3 • ING | Tanate Phutrakul to step down as...

The IDEA!

PostNL NV - What's News in Amsterdam

In this edition: • ABN Amro / ING | EC is intensifying its crackdown on national interference in bank mergers • AkzoNobel | said to be the only...

The IDEA!

PostNL NV - What's News in Amsterdam

In this edition: • ABN Amro | completes the acquisition of Hauck Aufhäuser Lampe • ING | cutting 230 senior roles globally within its Wholesale...

The IDEA!

What's News in Amsterdam - 24 June (Unilever)

In this edition: • Unilever | agrees to buy Dr. Squatch from Summit Partners

The IDEA!

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

In this edition: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD...

The IDEA!

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