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

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 | 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)

<ul>
<li>Shell | 4Q24 trading update disappoints: In 4Q24, Shell posted 'significantly lower' results in its Integrated Gas, Chemical and Renewables divisions. This became clear on the back of the yesterday’s issued trading update.</li>
<li>Odido | IPO expected at some point in 1H25: According to Bloomberg, Apax Partners and Warburg Pincus have selected various banks for an intended IPO of Dutch telecom provider Odido at some point in 1H25.  </li>
</ul>


Shell | 4Q24 trading update disappoints: In 4Q24, Shell posted 'significantly lower' results in its Integrated Gas, Chemical and Renewables divisions. This became clear on the back of the yesterday’s issued trading update.
Odido | IPO expected at some point in 1H25: According to Bloomberg, Apax Partners and Warburg Pincus have selected various banks for an intended IPO of Dutch telecom provider Odido at some point in 1H25.  


What's New(s) in Amsterdam - 9 January 2025 (Shell | Odido)

<ul>
<li>Unilever | does not intend to sell its food division but streamline it instead</li>
<li>In an interview with Financial Times newspaper, Unilever’s CEO Mr Hein Schumacher said that he has no intentions to sell his company’s food division but instead streamline the portfolio, focusing on core brands.</li>
<li>He also said that Unilever will proceed with the IPO of its ice-cream unit, which includes brands like Ben &amp; Jerry’s, amidst a legal dispute with the brand.</li>
</ul>


Unilever | does not intend to sell its food division but streamline it instead
In an interview with Financial Times newspaper, Unilever’s CEO Mr Hein Schumacher said that he has no intentions to sell his company’s food division but instead streamline the portfolio, focusing on core brands.
He also said that Unilever will proceed with the IPO of its ice-cream unit, which includes brands like Ben &amp; Jerry’s, amidst a legal dispute with the brand.


Koninklijke KPN NV - What's News in Amsterdam - 25 November (Unilever | Odido)

<ul>
<li>In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet</li>
<li>KPN | Delta announced tariff increases as per 1 January 2025</li>
<li>Unilever | puts its efforts to sell its ice cream business to private equity on ice </li>
</ul>


In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet
KPN | Delta announced tariff increases as per 1 January 2025
Unilever | puts its efforts to sell its ice cream business to private equity on ice 


What's News in Amsterdam - 21 November (Dsm-Firmenich | KPN | Unilever | ForFarmers | 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)

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 - 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!

What's New(s) in Amsterdam - 9 January 2025 (Shell | Odido)

In this edition: Shell | 4Q24 trading update disappoints; Odido | IPO expected at some point in 1H25

The IDEA!

Koninklijke KPN NV - What's News in Amsterdam - 25 November (Unilever | Odido)

In this edition: • Unilever | does not intend to sell its food division but streamline it instead. In an interview with Financial Times newspaper

The IDEA!

What's News in Amsterdam - 21 November (Dsm-Firmenich | KPN | Unilever | ForFarmers | PostNL)

In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet • KPN | Delta announced tariff increases as per 1 January...

The IDEA!

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