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.

Thematic (Sector/Industry)

<ul>
<li>ASM intends to declare a regular dividend of EUR 3.00 per share [FY23 EUR 2.75 per share].</li>
<li>Besides the company authorized a new repurchase program of up to EUR 150m within the 2025/26 timeframe.</li>
<li>ASM expects revenue in the range of EUR 810m to EUR 850m for 25Q1 [24Q1 EUR 639.0m], with a projected further increase in 25Q2 compared to 25Q1 [24Q2 EUR 706.1m]. </li>
</ul>


ASM intends to declare a regular dividend of EUR 3.00 per share [FY23 EUR 2.75 per share].
Besides the company authorized a new repurchase program of up to EUR 150m within the 2025/26 timeframe.
ASM expects revenue in the range of EUR 810m to EUR 850m for 25Q1 [24Q1 EUR 639.0m], with a projected further increase in 25Q2 compared to 25Q1 [24Q2 EUR 706.1m]. 


What's New(s) in Amsterdam - 26 February (ASM Int'l | Unilever | Wolters Kluwer | JDE Peet's)

<ul>
<li>Wolters Kluwer Financial &amp; Corporate Compliance (“FCC”) has signed an agreement to acquire Registered Agent Solutions, Inc. (“RASi”) for approximately USD 415m in cash.</li>
<li>The acquisition will expand the presence of FCC Legal Services (“CT Corporation”) with small businesses, middle-market companies and law firms in the U.S.</li>
<li>RASi serves thousands of customers across all 50 U.S. states and the District of Columbia. </li>
</ul>


Wolters Kluwer Financial &amp; Corporate Compliance (“FCC”) has signed an agreement to acquire Registered Agent Solutions, Inc. (“RASi”) for approximately USD 415m in cash.
The acquisition will expand the presence of FCC Legal Services (“CT Corporation”) with small businesses, middle-market companies and law firms in the U.S.
RASi serves thousands of customers across all 50 U.S. states and the District of Columbia. 


What's News in Amsterdam - 10 February 2025 (Wolters Kluwer | NX Filtration | Corporate agenda)

Equity Bottom-Up

<ul><li>In this edition: • ING | rumoured to the preparing offer on Spanish asset manager Singular Bank • KPN | wins EUR 74m cloud contract from the City of Amsterdam • RELX/Wolters Kluwer | Elsevier strengthens position in CDS with Wellsheet acquisition • Universal Music Group | repurchased 14.2m shares from Pershing Square Funds • SBM Offshore | intends to sell a 45% stake in the SPVs controlling FSO Chalchi</li></ul>

In this edition: • ING | rumoured to the preparing offer on Spanish asset manager Singular Bank • KPN | wins EUR 74m cloud contract from the City of Amsterdam • RELX/Wolters Kluwer | Elsevier strengthens position in CDS with Wellsheet acquisition • Universal Music Group | repurchased 14.2m shares from Pershing Square Funds • SBM Offshore | intends to sell a 45% stake in the SPVs controlling FSO Chalchi

What's New(s) in Amsterdam - 5 June (ING | KPN | RELX/Wolters Kluwer | UMG | SBMO)

<ul><li>In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland | announces small pensions buy-out deal • Philips | reiterates FY26 outlook – order intake increases again more than 5% • Wolters Kluwer | strong start of 2026; reconfirms FY26 guidance • Bnode | 1Q26 adjusted EBIT ahead of consensus; FY26 expected at lower end of guidance range</li></ul>

In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland | announces small pensions buy-out deal • Philips | reiterates FY26 outlook – order intake increases again more than 5% • Wolters Kluwer | strong start of 2026; reconfirms FY26 guidance • Bnode | 1Q26 adjusted EBIT ahead of consensus; FY26 expected at lower end of guidance range

<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)

Netherlands

Wolters Kluwer NV provides information services to professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance and healthcare. The Company provides its customers information-enabled tools and software solutions to manage their business efficiently. Wolters Kluwer operates in over 40 countries in Europe, North America, Asia Pacific and Latin America.

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Wolters Kluwer Nv (WKL NA)

What's New(s) in Amsterdam - 26 February (ASM Int'l | Unilever | Wolters Kluwer | JDE Peet's)

ASM expects revenue in the range of EUR 810m to EUR 850m for 25Q1 [24Q1 EUR 639.0m], with a projected further increase in 25Q2 compared to 25Q1...

The IDEA!

What's News in Amsterdam - 10 February 2025 (Wolters Kluwer | NX Filtration | Corporate agenda)

Wolters Kluwer Financial & Corporate Compliance (“FCC”) has signed an agreement to acquire Registered Agent Solutions, Inc. (“RASi”) for...

The IDEA!

What's New(s) in Amsterdam - 5 June (ING | KPN | RELX/Wolters Kluwer | UMG | SBMO)

In this edition: • ING | rumoured to the preparing offer on Spanish asset manager Singular Bank • KPN | wins EUR 74m cloud contract from the City...

The IDEA!

Adyen NV - What's News in Amsterdam

In this edition: • Adyen | solid 1Q26 revenue – reiterates FY26 outlook • Ahold Delhaize | solid 1Q26 performance; new CEO • a.s.r. Nederland |...

The IDEA!

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!

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