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: • Vopak | results in line; announces long-term shareholder remuneration schedule • Wolters Kluwer | results in line, new EUR 500m buyback, but not enough to impress</li></ul>

In this edition: • Vopak | results in line; announces long-term shareholder remuneration schedule • Wolters Kluwer | results in line, new EUR 500m buyback, but not enough to impress

What's News in Amsterdam - 25 February (Vopak | Wolters Kluwer)

Thematic (Sector/Industry)

<ul>
<li>International, yet Poland disappoints InPost Group delivered a strong 4Q25 peak season and a record full-year performance, reinforcing its growth trajectory and operational scalability across Europe.</li>
<li>Total 4Q25 parcel volumes reached an all-time high of 417.6m, up 30% year-on-year, with the Group processing over 15 million parcels on its busiest single day.</li>
<li>Full-year volumes totaled 1.36bn parcels (consensus: 1.35bn), representing 25% annual growth, increasingly driven by international markets.</li>
</ul>


International, yet Poland disappoints InPost Group delivered a strong 4Q25 peak season and a record full-year performance, reinforcing its growth trajectory and operational scalability across Europe.
Total 4Q25 parcel volumes reached an all-time high of 417.6m, up 30% year-on-year, with the Group processing over 15 million parcels on its busiest single day.
Full-year volumes totaled 1.36bn parcels (consensus: 1.35bn), representing 25% annual growth, increasingly driven by international markets.


What's News in Amsterdam - 21 January (InPost | Vopak)

<ul><li>In this edition: • Shell | LNG Canada Phase 2 FID reinforces integrated gas growth strategy • Vopak | LNG Canada FID strengthens Canadian export infrastructure read-across • TomTom | expands collaboration with Microsoft • Bnode | Flemish press exit by YE27 will have limited P&L and restructuring impact • DHL | DHL eCommerce: Eastern Europe becomes M&A focus</li></ul>

In this edition: • Shell | LNG Canada Phase 2 FID reinforces integrated gas growth strategy • Vopak | LNG Canada FID strengthens Canadian export infrastructure read-across • TomTom | expands collaboration with Microsoft • Bnode | Flemish press exit by YE27 will have limited P&L and restructuring impact • DHL | DHL eCommerce: Eastern Europe becomes M&A focus

What's News in Amsterdam - 30 September (Shell | Vopak | TomTom | Bnode | DHL)

<ul>
<li>The Supervisory Board of a.s.r. intends to appoint Ingrid de Swart as CEO and Chair of the Executive Board, succeeding Jos Baeten, whose term ends at the AGM on 20 May 2026.</li>
<li>De Swart, currently COO/CTO and Executive Board member since 2019, has extensive experience in financial services and has led the integration of Aegon Nederland.</li>
<li>The Board highlights her strong leadership, strategic continuity, and focus on sustainable growth. </li>
</ul>


The Supervisory Board of a.s.r. intends to appoint Ingrid de Swart as CEO and Chair of the Executive Board, succeeding Jos Baeten, whose term ends at the AGM on 20 May 2026.
De Swart, currently COO/CTO and Executive Board member since 2019, has extensive experience in financial services and has led the integration of Aegon Nederland.
The Board highlights her strong leadership, strategic continuity, and focus on sustainable growth. 


<ul><li>In this edition: • ABN Amro | Dutch housing market shows further cooling amid persistent supply constraints • Adyen | closes Talon.One and Orb acquisitions • Ahold Delhaize | Kroger acquires Giant Eagle for USD 1.65bn • Vopak | completes acquisition majority stake in GES and makes FID on battery storage project • TomTom | to partner with Transit Technologies • Austrian Post | accelerates e-commerce logistics expansion through euShipments.com • Bnode | partnership with Verisure expands post office service strategy • Bnode | CMA CGM targets acquisition of FedEx Supply Chain activities • Dutch Inflation | falls below 3% in June</li></ul>

In this edition: • ABN Amro | Dutch housing market shows further cooling amid persistent supply constraints • Adyen | closes Talon.One and Orb acquisitions • Ahold Delhaize | Kroger acquires Giant Eagle for USD 1.65bn • Vopak | completes acquisition majority stake in GES and makes FID on battery storage project • TomTom | to partner with Transit Technologies • Austrian Post | accelerates e-commerce logistics expansion through euShipments.com • Bnode | partnership with Verisure expands post office service strategy • Bnode | CMA CGM targets acquisition of FedEx Supply Chain activities • Dutch Inflation | falls below 3% in June

Netherlands

Koninklijke Vopak NV is an independent tank terminal operator. The Company provides conditioned storage facilities for bulk liquids such as oil products, gaseous chemicals, petrochemicals, biofuels and vegetable oils.

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Koninklijke Vopak Nv (VPK NA)

What's News in Amsterdam - 25 February (Vopak | Wolters Kluwer)

In this edition: • Vopak | results in line; announces long-term shareholder remuneration schedule • Wolters Kluwer | results in line, new EUR 500m...

The IDEA!

What's News in Amsterdam - 21 January (InPost | Vopak)

International, yet Poland disappoints InPost Group delivered a strong 4Q25 peak season and a record full-year performance, reinforcing its growth...

The IDEA!

What's News in Amsterdam - 30 September (Shell | Vopak | TomTom | Bnode | DHL)

In this edition: • Shell | LNG Canada Phase 2 FID reinforces integrated gas growth strategy • Vopak | LNG Canada FID strengthens Canadian export...

The IDEA!

What's News in Amsterdam

The Supervisory Board of a.s.r. intends to appoint Ingrid de Swart as CEO and Chair of the Executive Board, succeeding Jos Baeten, whose term ends...

The IDEA!

FedEx Corp - What's News in Amsterdam

In this edition: • ABN Amro | Dutch housing market shows further cooling amid persistent supply constraints • Adyen | closes Talon.One and Orb...

The IDEA!

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