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

Universal Music Group NV / Equity Bottom-Up

<ul><li>In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square plans to divest its stake • Unilever | Fernández robustly defends the deal with McCormick despite upheaval • Dutch housing market | ‘code yellow’ based on early signals TU’s housing market monitor • E-commerce & Logistics | DHL study shows rising share of OOH deliveries</li></ul>

In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square plans to divest its stake • Unilever | Fernández robustly defends the deal with McCormick despite upheaval • Dutch housing market | ‘code yellow’ based on early signals TU’s housing market monitor • E-commerce & Logistics | DHL study shows rising share of OOH deliveries

Universal Music Group NV - What's News in Amsterdam

Axalta Coating Systems / Equity Bottom-Up

<ul><li>In this edition: • AkzoNobel | new remuneration proposals provoke criticism; Axalta rejected offer too • PostNL | FY25 net loss on the USO at EUR 35m is higher than initially expected • PostNL | new tariffs for urgent (D+1) deliveries after migration to D+2 for USO mail • Bnode | agreement on new CLA for bpost • E-commerce & Logistics | EC imposes EUR 200m fine on Temu</li></ul>

In this edition: • AkzoNobel | new remuneration proposals provoke criticism; Axalta rejected offer too • PostNL | FY25 net loss on the USO at EUR 35m is higher than initially expected • PostNL | new tariffs for urgent (D+1) deliveries after migration to D+2 for USO mail • Bnode | agreement on new CLA for bpost • E-commerce & Logistics | EC imposes EUR 200m fine on Temu

AXTA US - What's News in Amsterdam - 29 May (AkzoNobel | PostNL | Bnode | E-commerce & Logistics)

<ul><li>In this edition: • KPN | Delta Fiber: solid growth in Wholesale in FY25; targets 1m clients by 2030 • Unilever | shareholders express discontent for having no say on the McCormick deal • E-commerce & Logistics | French unilateral tax on non-EU parcels not effective</li></ul>

In this edition: • KPN | Delta Fiber: solid growth in Wholesale in FY25; targets 1m clients by 2030 • Unilever | shareholders express discontent for having no say on the McCormick deal • E-commerce & Logistics | French unilateral tax on non-EU parcels not effective

What's News in Amsterdam - 15 May (KPN | Unilever | E-commerce & Logistics)

CHINA - Healthcare, Steel, Autos, Education, Research From Beijing

Scott Laprise/ 乐天虎

CHINA - Healthcare, Steel, Autos, Education

Thematic (Sector/Industry)

Local Weibo explodes on obscenities by a foreigner<ul><li>Senior manager believed to have yelled obscenities at a local Chinese.</li><li>The story became a top social media story with over 13 million views.</li><li>The company has said it has removed the employee from his position in China.</li><li>Mercedes Benz business continues to grow well in China on the back of strong car sales.</li><li>We expect little impact due to this incidence due to the swift measures by the company.</li></ul>

Local Weibo explodes on obscenities by a foreignerSenior manager believed to have yelled obscenities at a local Chinese.The story became a top social media story with over 13 million views.The company has said it has removed the employee from his position in China.Mercedes Benz business continues to grow well in China on the back of strong car sales.We expect little impact due to this incidence due to the swift measures by the company.

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Weakness in industrial production growth in May was seen across most major sectors and economies, which clearly shows that the Euro Zone industry is struggling to gain momentum which poses a risk to our GDP outlook of 1.3% for 2016 (lowered from 1.6% after the Brexit vote).Industrial Production (IPI) in the Eurozone slowed to 0.6% y-o-y in May 2016 after having recorded a growth of 2.1% y-o-y in April 2016 on a seasonally and working day adjusted (swda) basis. On a 3 month moving average (3mma)…

Weakness in industrial production growth in May was seen across most major sectors and economies, which clearly shows that the Euro Zone industry is struggling to gain momentum which poses a risk to our GDP outlook of 1.3% for 2016 (lowered from 1.6% after the Brexit vote).Industrial Production (IPI) in the Eurozone slowed to 0.6% y-o-y in May 2016 after having recorded a growth of 2.1% y-o-y in April 2016 on a seasonally and working day adjusted (swda) basis. On a 3 month moving average (3mma)…

EUROZONE: Industrial Production GROWTh Slows ACROSS SECTORS AND COUNTRIES

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.

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

Zalando (ZAL GR)

Universal Music Group NV - What's News in Amsterdam

In this edition: • AkzoNobel | Nippon Paint and Sherwin-Williams no longer pursue joint takeover plan • Universal Music Group | Pershing Square...

The IDEA!

AXTA US - What's News in Amsterdam - 29 May (AkzoNobel | PostNL | Bnode | E-commerce & Logistics)

In this edition: • AkzoNobel | new remuneration proposals provoke criticism; Axalta rejected offer too • PostNL | FY25 net loss on the USO at EUR...

The IDEA!

What's News in Amsterdam - 15 May (KPN | Unilever | E-commerce & Logistics)

In this edition: • KPN | Delta Fiber: solid growth in Wholesale in FY25; targets 1m clients by 2030 • Unilever | shareholders express discontent...

The IDEA!

Mercedes Benz Dodges a Bullet

Local Weibo explodes on obscenities by a foreigner Senior manager believed to have yelled obscenities at a local Chinese. The story became a top...

Scott Laprise/ 乐天虎

EUROZONE: Industrial Production GROWTh Slows ACROSS SECTORS AND COUNTRIES

Weakness in industrial production growth in May was seen across most major sectors and economies, which clearly shows that the Euro Zone industry...

Rajan Govil

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)