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: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD 3.5bn share buyback • Unilever | CEO pledges to accelerate the execution of the company’s strategy • Aalberts | tough start of the year – building shows first signs of recovery • Aalberts | completes acquisition of Paulo Products Company • March retail sales | +3.4% YoY in value and +1.0% YoY in volume terms • Dutch CPI | +4.1% in April • e-Commerce (logistics) sector | France considering imposing tax on small Chinese parcels</li></ul>

In this edition: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD 3.5bn share buyback • Unilever | CEO pledges to accelerate the execution of the company’s strategy • Aalberts | tough start of the year – building shows first signs of recovery • Aalberts | completes acquisition of Paulo Products Company • March retail sales | +3.4% YoY in value and +1.0% YoY in volume terms • Dutch CPI | +4.1% in April • e-Commerce (logistics) sector | France considering imposing tax on small Chinese parcels

<ul><li>In today's edition: • Unilever | to sell The Vegetarian Butcher to Vivera • InPost/Allegro/DHL | DS Smith survey illustrates the importance of the last mile delivery • PostNL | Budbee plans to triple its APM footprint in the Netherlands • Dutch consumer confidence | dropped even further in March</li></ul>

In today's edition: • Unilever | to sell The Vegetarian Butcher to Vivera • InPost/Allegro/DHL | DS Smith survey illustrates the importance of the last mile delivery • PostNL | Budbee plans to triple its APM footprint in the Netherlands • Dutch consumer confidence | dropped even further in March

Deutsche Post AG - What's News in Amsterdam

<ul><li>In this edition: • KPN | has overtaken VodafoneZiggo as the largest consumer broadband provider • Unilever | ice cream division to be named The Magnum Ice Cream Company • Arcadis | acquires WSP Infrastructure Engineering – at current share price trading at highly attractive level</li></ul>

In this edition: • KPN | has overtaken VodafoneZiggo as the largest consumer broadband provider • Unilever | ice cream division to be named The Magnum Ice Cream Company • Arcadis | acquires WSP Infrastructure Engineering – at current share price trading at highly attractive level

What's New(s) in Amsterdam - 20 March (KPN | Unilever | Arcadis)

Thematic (Sector/Industry)

<ul>
<li>Ahold Delhaize / PostNL | bol sells Cycloon to owner of Intrapost Last Friday, Intrapost, Cycloon and Ahold Delahaize’s online platform bol announced that postal company Cycloon to will be bought by Den Hollander Holding B.V, a holding company with the same controlling shareholder as Intrapost: Mr. V.R. Den Hollander. bol and Cycloon are convinced that this is the best step for all parties with a view to the future.</li>
<li>Cycloon focuses on sorting and delivering letterbox mail.</li>
<li>The sales of these activities to Den Hollander Holding B.V, will bring Cycloon in a better position to benefit from the opportunities on the postal market and to continue to grow.</li>
</ul>


Ahold Delhaize / PostNL | bol sells Cycloon to owner of Intrapost Last Friday, Intrapost, Cycloon and Ahold Delahaize’s online platform bol announced that postal company Cycloon to will be bought by Den Hollander Holding B.V, a holding company with the same controlling shareholder as Intrapost: Mr. V.R. Den Hollander. bol and Cycloon are convinced that this is the best step for all parties with a view to the future.
Cycloon focuses on sorting and delivering letterbox mail.
The sales of these activities to Den Hollander Holding B.V, will bring Cycloon in a better position to benefit from the opportunities on the postal market and to continue to grow.


<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%

Nigeria

Unilever Nigeria Plc manufactures and markets consumer products primarily in the home, personal care and foods categories. The Company sells products such as Omo washing powder, Key soap, Royco bouillon, Lipton tea, Blue Band margarine, Pears baby care goods, Vaseline petroleum jelly, Lux soap, and Close Up toothpaste.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Unilever Nigeria (UNILEVER NL)

bpost SA - What's New(s) in Amsterdam

In this edition: • ING | no real surprises in 1Q25; new EUR 2.0bn share buyback • Shell | clear beat of consensus almost across the board; new USD...

The IDEA!

Deutsche Post AG - What's News in Amsterdam

In today's edition: • Unilever | to sell The Vegetarian Butcher to Vivera • InPost/Allegro/DHL | DS Smith survey illustrates the importance of the...

The IDEA!

What's New(s) in Amsterdam - 20 March (KPN | Unilever | Arcadis)

In this edition: • KPN | has overtaken VodafoneZiggo as the largest consumer broadband provider • Unilever | ice cream division to be named The...

The IDEA!

What's News in Amsterdam

The sales of these activities to Den Hollander Holding B.V, will bring Cycloon in a better position to benefit from the opportunities on the postal...

The IDEA!

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!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)