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Sep 13 2021, 08:05 IST/BST
Ratings and price correct at time of issue
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Davy hosted its 13th Annual Industrials Conference last week, featuring many of the key names in the European buildings materials sector. These included CRH, Holcim, Kingspan, HeidelbergCement, Saint-Gobain and Tyman. The key take-outs were: (1) demand trends remain strong with backlogs in good shape, although poor weather has been unhelpful in the US; (2) cost inflation and supply chain disruption remain a challenge, albeit manageable for the moment; (3) pricing remains robust, with second and third increases pushed through in many markets and companies laying the groundwork for further increases in 2022; (4) deal risk appetite is improving and with balance sheets in good order, companies plan to grow but not at any price; (5) sustainability remains key, with management keen to reinforce commitments to achieving ambitious carbon reduction targets.