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 | rival Jumbo reports having made good progress in 1H25 • ASR Nederland | to become the sole shareholder of HumanTotalCare • BAM Group | HAL to acquire VolkerWessels’ operations in the Netherlands • PostNL | new parcels depot in Belgium • E-commerce/E-com Logistics | EUR 2/item handling fee on low value parcels is “a joke”</li></ul>

In this edition: • Ahold Delhaize | rival Jumbo reports having made good progress in 1H25 • ASR Nederland | to become the sole shareholder of HumanTotalCare • BAM Group | HAL to acquire VolkerWessels’ operations in the Netherlands • PostNL | new parcels depot in Belgium • E-commerce/E-com Logistics | EUR 2/item handling fee on low value parcels is “a joke”

ASR Nederland NV - What's News in Amsterdam

<ul>
<li>Heineken has lost operational control and withdrawn its staff from its facilities in eastern Democratic Republic of Congo (“DRC”) due to an escalating conflict.</li>
<li>The company had suspended operations in March in the cities of Goma, Bukavu, and Uvira after its breweries and depots were attacked during clashes between the army and M23 rebels.</li>
<li>As of June 12, 2025, armed groups have seized its sites in Goma and Bukavu, prompting a full withdrawal.</li>
</ul>


Heineken has lost operational control and withdrawn its staff from its facilities in eastern Democratic Republic of Congo (“DRC”) due to an escalating conflict.
The company had suspended operations in March in the cities of Goma, Bukavu, and Uvira after its breweries and depots were attacked during clashes between the army and M23 rebels.
As of June 12, 2025, armed groups have seized its sites in Goma and Bukavu, prompting a full withdrawal.


What's News in Amsterdam - 23 June (Heineken | Consumer Confidence)

<ul><li>In this edition: • Unilever | believed to be looking for a buyer for its Graze brand • SBM Offshore | signed an O&M contract for the FPSO GranMorgu • Van Lanschot Kempen | capital return of EIR 1.40 per share on 26 June • PostNL | Postal Act revision not controversial • Sif Holding | KCI the engineers awarded contract to design substructures • E-commerce & logistics | AliExpress risks hefty fine for selling non-compliant products</li></ul>

In this edition: • Unilever | believed to be looking for a buyer for its Graze brand • SBM Offshore | signed an O&M contract for the FPSO GranMorgu • Van Lanschot Kempen | capital return of EIR 1.40 per share on 26 June • PostNL | Postal Act revision not controversial • Sif Holding | KCI the engineers awarded contract to design substructures • E-commerce & logistics | AliExpress risks hefty fine for selling non-compliant products

SBM Offshore NV - What's New(s) in Amsterdam

<ul><li>In this edition: • Heineken | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in Zinnwald Lithium to 29.6% • PostNL | House committees to meet today on which topics to declare controversial • E-commerce / E-com logistics | online spending in the Netherlands up 4% YoY in 1Q25</li></ul>

In this edition: • Heineken | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in Zinnwald Lithium to 29.6% • PostNL | House committees to meet today on which topics to declare controversial • E-commerce / E-com logistics | online spending in the Netherlands up 4% YoY in 1Q25

What's New(s) in Amsterdam - 18 June (Heineken | AMG Critical Materials | PostNL | E-com/logistics)

BE Semiconductor Industries NV / Equity Bottom-Up

<ul><li>In this edition: • ASM International - ASML Holding – BE Semiconductor Industries | US wants further export restrictions of high-end semiconductor technology to China • PostNL | opens up its APM network for FedEx for drop-offs and returns</li></ul>

In this edition: • ASM International - ASML Holding – BE Semiconductor Industries | US wants further export restrictions of high-end semiconductor technology to China • PostNL | opens up its APM network for FedEx for drop-offs and returns

What's New(s) in Amsterdam - 17 June (ASM Int'l | ASML Holding | Besi I | PostNL)

Netherlands

PostNL NV collects, transports, stores, sorts, and distributes letters, printed matter, parcels, documents, and freight items.  The Company provides mail and logistics services domestically and internationally.

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PostNL NV (PNL NA)

ASR Nederland NV - What's News in Amsterdam

In this edition: • Ahold Delhaize | rival Jumbo reports having made good progress in 1H25 • ASR Nederland | to become the sole shareholder of...

The IDEA!

What's News in Amsterdam - 23 June (Heineken | Consumer Confidence)

Heineken has lost operational control and withdrawn its staff from its facilities in eastern Democratic Republic of Congo (“DRC”) due to an...

The IDEA!

SBM Offshore NV - What's New(s) in Amsterdam

In this edition: • Unilever | believed to be looking for a buyer for its Graze brand • SBM Offshore | signed an O&M contract for the FPSO...

The IDEA!

What's New(s) in Amsterdam - 18 June (Heineken | AMG Critical Materials | PostNL | E-com/logistics)

In this edition: • Heineken | Vietnam’s consumption tax increases: no near-term impact expected • AMG Critical Materials | increases interest in...

The IDEA!

What's New(s) in Amsterdam - 17 June (ASM Int'l | ASML Holding | Besi I | PostNL)

In this edition: • ASM International - ASML Holding – BE Semiconductor Industries | US wants further export restrictions of high-end semiconductor...

The IDEA!

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