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>In yesterday’s initial comment, we already zoomed in on the bank’s 4Q24 and FY24 results. On an overall, basis, we were pleased with the results and with NII in particular.</li>
<li>We feel that the FY25 NII guidance has been adequately substantiated in the FY25 results presentation slides.</li>
<li>We were also pleased wit the development in costs on an underlying basis. We feel that management’s guidance of flattish costs (excl. one-offs) is based on a clear foundation. </li>
</ul>


In yesterday’s initial comment, we already zoomed in on the bank’s 4Q24 and FY24 results. On an overall, basis, we were pleased with the results and with NII in particular.
We feel that the FY25 NII guidance has been adequately substantiated in the FY25 results presentation slides.
We were also pleased wit the development in costs on an underlying basis. We feel that management’s guidance of flattish costs (excl. one-offs) is based on a clear foundation. 


Equity Bottom-Up

<ul>
<li>In this edition: • AkzoNobel | Axalta's strong set of 2Q26 results supportive for the proposed merger</li>
<li>AkzoNobel | Sherwin Williams raises FY26 guidance after better than expected 2Q26 </li>
<li>AkzoNobel | PPG’s 2Q26 looks solid, but demand outlook remains the focus </li>
</ul>


In this edition: • AkzoNobel | Axalta's strong set of 2Q26 results supportive for the proposed merger
AkzoNobel | Sherwin Williams raises FY26 guidance after better than expected 2Q26 
AkzoNobel | PPG’s 2Q26 looks solid, but demand outlook remains the focus 


<ul><li>In this edition: • ABN Amro | ICS outsourcing strategically positive; no near term effect on earnings • Dutch housing market | housing market shows signs of normalization</li></ul>

In this edition: • ABN Amro | ICS outsourcing strategically positive; no near term effect on earnings • Dutch housing market | housing market shows signs of normalization

What's News in Amsterdam - 10 July (ABN Amro | Dutch housing market)

Universal Music Group NV / Equity Bottom-Up

<ul><li>In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square plans to divest its stake • Unilever | Fernández robustly defends the deal with McCormick despite upheaval • Dutch housing market | ‘code yellow’ based on early signals TU’s housing market monitor • E-commerce & Logistics | DHL study shows rising share of OOH deliveries</li></ul>

In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square plans to divest its stake • Unilever | Fernández robustly defends the deal with McCormick despite upheaval • Dutch housing market | ‘code yellow’ based on early signals TU’s housing market monitor • E-commerce & Logistics | DHL study shows rising share of OOH deliveries

Universal Music Group NV - What's News in Amsterdam

Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The June 2026 index review results for the SE600 index were announced yesterday after market close.</li>
<li>There will be 12 ADD and 12 DELs for the benchmark index in June 2026.</li>
<li>The Inclusion/Exclusion events will take place at the close of trading on 19th June 2026.</li>
</ul>


The June 2026 index review results for the SE600 index were announced yesterday after market close.
There will be 12 ADD and 12 DELs for the benchmark index in June 2026.
The Inclusion/Exclusion events will take place at the close of trading on 19th June 2026.


Quiddity SE600 Jun26 Results: 91% Correctly Predicted; Few Surprises

Netherlands

Koninklijke BAM Groep N.V. offers residential and non-residential construction services.  The Company offers property development, civil construction, cable and pipe systems, road, and mechanical and electrical systems construction services.  BAM operates primarily in the Netherlands and Belgium.

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Koninklijke Bam Groep Nv (BAMNB NA)

What's New(s) in Amsterdam

In yesterday’s initial comment, we already zoomed in on the bank’s 4Q24 and FY24 results. On an overall, basis, we were pleased with the results...

The IDEA!

What's News in Amsterdam

In this edition: • AkzoNobel | Axalta's strong set of 2Q26 results supportive for the proposed merger AkzoNobel | Sherwin Williams raises FY26...

The IDEA!

What's News in Amsterdam - 10 July (ABN Amro | Dutch housing market)

In this edition: • ABN Amro | ICS outsourcing strategically positive; no near term effect on earnings • Dutch housing market | housing market...

The IDEA!

Universal Music Group NV - What's News in Amsterdam

In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square...

The IDEA!

Quiddity SE600 Jun26 Results: 91% Correctly Predicted; Few Surprises

We correctly predicted 22/24 SE600 changes and 8/9 EURO STX changes for June 2026, plus the no fast-entry for Nokia for the EURO STOXX 50 index.

Afridi Reyal

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