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: • Ahold Delhaize | Jumbo has found an interim CEO • KPN | Ziggo to increase the download speed for all broadband subscribers • Unilever | former owners believed to be interested in buying back Ben & Jerry’s • InPost / PostNL | Vinted Go to roll out APMs in the Netherlands and Belgium • Van Lanschot Kempen | some post-earnings call remarks • Kendrion | sets itself a challenging FY25 EBITDA-margin goal of at least 15%</li></ul>

In this edition: • Ahold Delhaize | Jumbo has found an interim CEO • KPN | Ziggo to increase the download speed for all broadband subscribers • Unilever | former owners believed to be interested in buying back Ben & Jerry’s • InPost / PostNL | Vinted Go to roll out APMs in the Netherlands and Belgium • Van Lanschot Kempen | some post-earnings call remarks • Kendrion | sets itself a challenging FY25 EBITDA-margin goal of at least 15%

BE Semiconductor Industries NV / Equity Bottom-Up

<ul><li>In this edition: • BE Semiconductor Industries | order intake remains soft, 1Q25 outlook below market expecttions • KPN | VodafoneZiggo continues to lose broadband clients in 4Q24 • NN Group | better-than-expected OCG thanks to non-life and Insurance Europe • Fagron | continues its track record of marked organic revenue growth and strong free cash flows • SBM Offshore | directional revenue and EBITDA in line; new buyback and upbeat guidance • Vopak | 2025 guidance disappoints; EUR 100m share buyback</li></ul>

In this edition: • BE Semiconductor Industries | order intake remains soft, 1Q25 outlook below market expecttions • KPN | VodafoneZiggo continues to lose broadband clients in 4Q24 • NN Group | better-than-expected OCG thanks to non-life and Insurance Europe • Fagron | continues its track record of marked organic revenue growth and strong free cash flows • SBM Offshore | directional revenue and EBITDA in line; new buyback and upbeat guidance • Vopak | 2025 guidance disappoints; EUR 100m share buyback

BE Semiconductor Industries NV - What's New(s) in Amsterdam

<ul><li>In this edition: • KPN | Tower Company joint venture with ABP will start its operations today • Unilever | Ice Cream unit to be listed in Amsterdam, London and New York • SBM Offshore | Guyana offshore oil projects recovering investments quickly • Odido | current shareholders are exploring options; IPO possibly in 1H24</li></ul>

In this edition: • KPN | Tower Company joint venture with ABP will start its operations today • Unilever | Ice Cream unit to be listed in Amsterdam, London and New York • SBM Offshore | Guyana offshore oil projects recovering investments quickly • Odido | current shareholders are exploring options; IPO possibly in 1H24

What's News in Amsterdam - 14 February 2025 (KPN | Unilever | SBM Offshore  | Odido)

<ul><li>In this edition: • Ahold Delhaize | Jumbo CEO Ton van Veen to step down • KPN | over-delivers on its FY24 guidance, yet remarkable slowdown in service revenue growth</li></ul>

In this edition: • Ahold Delhaize | Jumbo CEO Ton van Veen to step down • KPN | over-delivers on its FY24 guidance, yet remarkable slowdown in service revenue growth

What's News in Amsterdam - 30 January 2025 (Ahold Delhaize | KPN)

<ul><li>In this edition: • KPN | ACM: stricter supervision on information obligations for telecom companies • InPost | plans to invest GBP 600m in the UK between 2025 and 2029 • Ebusco | auctioning part of its inventory • PostNL | FY24 result falls short of guidance; mainly because of Mail</li></ul>

In this edition: • KPN | ACM: stricter supervision on information obligations for telecom companies • InPost | plans to invest GBP 600m in the UK between 2025 and 2029 • Ebusco | auctioning part of its inventory • PostNL | FY24 result falls short of guidance; mainly because of Mail

What's News in Amsterdam - 20 January (KPN | InPost | Ebusco | PostNL)

Netherlands

Koninklijke KPN NV provides telecommunications services throughout the Netherlands.  The Company provides local, long distance, international, and mobile telecommunications services, voice-mail, call forwarding, ISDN Internet lines, faxing, and communications services for businesses and individuals.  KPN offers mobile telecommunications through E-Plus in Germany and BASE in Belgium.

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Koninklijke KPN (KPN NA)

PostNL NV - What's News in Amsterdam

In this edition: • Ahold Delhaize | Jumbo has found an interim CEO • KPN | Ziggo to increase the download speed for all broadband...

The IDEA!

BE Semiconductor Industries NV - What's New(s) in Amsterdam

In this edition: • BE Semiconductor Industries | order intake remains soft, 1Q25 outlook below market expecttions • KPN | VodafoneZiggo continues...

The IDEA!

What's News in Amsterdam - 14 February 2025 (KPN | Unilever | SBM Offshore | Odido)

In this edition: • KPN | Tower Company joint venture with ABP will start its operations today • Unilever | Ice Cream unit to be listed in...

The IDEA!

What's News in Amsterdam - 30 January 2025 (Ahold Delhaize | KPN)

In this edition: • Ahold Delhaize | Jumbo CEO Ton van Veen to step down • KPN | over-delivers on its FY24 guidance, yet remarkable slowdown in...

The IDEA!

What's News in Amsterdam - 20 January (KPN | InPost | Ebusco | PostNL)

In this edition: • KPN | ACM: stricter supervision on information obligations for telecom companies • InPost | plans to invest GBP 600m in the UK...

The IDEA!

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