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: • Philips | increases FY26 adjusted EBITA and FCF outlook reflecting US tariff refund benefit • Basic-Fit | updates FY26 guidance for underlying EBITDA less rent • DHL | DHL eCommerce to strengthen position in the Baltics with Venipak acquisition • E-commerce & Logistics | Shein reports 1Q26 net loss of USD 99m</li></ul>

In this edition: • Philips | increases FY26 adjusted EBITA and FCF outlook reflecting US tariff refund benefit • Basic-Fit | updates FY26 guidance for underlying EBITDA less rent • DHL | DHL eCommerce to strengthen position in the Baltics with Venipak acquisition • E-commerce & Logistics | Shein reports 1Q26 net loss of USD 99m

What's News in Amsterdam - 28 July (Philips | Basic-Fit | DHL | E-com & Logistics)

<ul><li>In this edition: • Van Lanschot Kempen | Delen Private Bank expands in the Netherlands with 8th acquisition • Acomo | acquires Cublend in the Netherlands • CM.com | reiterates outlook of at least 30% increase in FY26 adjusted EBITDA • Allegro | strengthens logistics partnership with DHL eCommerce • E-commerce & Logistics | AliExpress fined EUR 550m for violating the DSA</li></ul>

In this edition: • Van Lanschot Kempen | Delen Private Bank expands in the Netherlands with 8th acquisition • Acomo | acquires Cublend in the Netherlands • CM.com | reiterates outlook of at least 30% increase in FY26 adjusted EBITDA • Allegro | strengthens logistics partnership with DHL eCommerce • E-commerce & Logistics | AliExpress fined EUR 550m for violating the DSA

Van Lanschot Kempen NV - What's News in Amsterdam

<ul><li>In this edition: • Ahold Delhaize | U.S. grocery demand weakens as volume declines outweigh inflation • E-commerce & Logistics | Chinese platforms facing increasing legal & regulatory risks • Corporate Agenda | week 30 - 33</li></ul>

In this edition: • Ahold Delhaize | U.S. grocery demand weakens as volume declines outweigh inflation • E-commerce & Logistics | Chinese platforms facing increasing legal & regulatory risks • Corporate Agenda | week 30 - 33

What's News in Amsterdam - 20 July (Ahold Delhaize | E-commerce & Logistics | Corporate agenda)

Amsterdam Commodities Nv / Equity Bottom-Up

<ul><li>In this edition: • Heineken | additional thoughts on a potential acquisition of Haacht • Acomo | closes the acquisition of Citromil in Spain • ForFarmers | temporarily adopting a neutral stance ahead of 1H26 results • Allegro | AI, deeper platform integration and partnerships core elements of its strategy</li></ul>

In this edition: • Heineken | additional thoughts on a potential acquisition of Haacht • Acomo | closes the acquisition of Citromil in Spain • ForFarmers | temporarily adopting a neutral stance ahead of 1H26 results • Allegro | AI, deeper platform integration and partnerships core elements of its strategy

What's News in Amsterdam - 17 July (Heineken | Acomo | ForFarmers | Allegro)

<ul><li>In this edition: • AkzoNobel | impairment on Russian assets looks inevitable • ASML Holding | strongly raises FY26 net sales and gross margin outlook • ASML Holding / ASM Int’l / Besi | SEMI strongly increases global semiconductor equipment sales forecast • TomTom | reiterates FY26 outlook as well as return to revenue growth from 2027 onwards • Bnode | political deadlock over proposed savings on management contract with bpost • Bnode | bpost launches personal locker rentals via its Bbox network • E-commerce and Logistics | MediaMarkt partners with Wolt for flash delivery in Germany</li></ul>

In this edition: • AkzoNobel | impairment on Russian assets looks inevitable • ASML Holding | strongly raises FY26 net sales and gross margin outlook • ASML Holding / ASM Int’l / Besi | SEMI strongly increases global semiconductor equipment sales forecast • TomTom | reiterates FY26 outlook as well as return to revenue growth from 2027 onwards • Bnode | political deadlock over proposed savings on management contract with bpost • Bnode | bpost launches personal locker rentals via its Bbox network • E-commerce and Logistics | MediaMarkt partners with Wolt for flash delivery in Germany

Germany

Zalando SE provides online sale of fashion accessories. The Company offers clothing, sports products, shoes, bags, and other accessories for men, women, and children. Zalando markets its products worldwide.

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Zalando (ZAL GR)

What's News in Amsterdam - 28 July (Philips | Basic-Fit | DHL | E-com & Logistics)

In this edition: • Philips | increases FY26 adjusted EBITA and FCF outlook reflecting US tariff refund benefit • Basic-Fit | updates FY26 guidance...

The IDEA!

Van Lanschot Kempen NV - What's News in Amsterdam

In this edition: • Van Lanschot Kempen | Delen Private Bank expands in the Netherlands with 8th acquisition • Acomo | acquires Cublend in the...

The IDEA!

What's News in Amsterdam - 20 July (Ahold Delhaize | E-commerce & Logistics | Corporate agenda)

In this edition: • Ahold Delhaize | U.S. grocery demand weakens as volume declines outweigh inflation • E-commerce & Logistics | Chinese...

The IDEA!

What's News in Amsterdam - 17 July (Heineken | Acomo | ForFarmers | Allegro)

In this edition: • Heineken | additional thoughts on a potential acquisition of Haacht • Acomo | closes the acquisition of Citromil in...

The IDEA!

bpost SA - What's News in Amsterdam

In this edition: • AkzoNobel | impairment on Russian assets looks inevitable • ASML Holding | strongly raises FY26 net sales and gross margin...

The IDEA!

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