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Jun 9 2026, 07:48 IST/BST
Building Materials
Growth still forecast for European construction in 2026 but at a slower pace
- Sectors : Building Materials
- Companies : Breedon Group | Forterra plc | Marshalls | Howden Joinery | Saint-Gobain Group | Ibstock plc | Grafton Group | Holcim | Genuit Group | Volution | Buzzi Spa | Heidelberg Materials | Stelrad Group plc | Kingspan Group | SigmaRoc plc | Travis Perkins plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Breedon Group | NEUTRAL | 05/06/25 | Outperform | 22/11/19 | 275p |
| Buzzi Spa | OUTPERFORM | 04/04/16 | Neutral | 05/08/15 | 4353c |
| Howden Joinery | OUTPERFORM | 31/03/22 | Neutral | 26/09/19 | 771p |
| Holcim | NEUTRAL | 14/01/22 | Outperform | 20/04/20 | 7262chf |
| Forterra plc | NEUTRAL | 19/08/16 | N/A | N/A | 136p |
| Genuit Group | NEUTRAL | 05/11/21 | N/A | N/A | 254p |
| Travis Perkins plc | NEUTRAL | 28/05/20 | Underperform | 01/07/16 | 537p |
| Grafton Group | OUTPERFORM | 07/10/20 | Neutral | 21/05/20 | 828p |
| Heidelberg Materials | UNDERPERFORM | 30/05/24 | Neutral | 04/02/20 | 17275c |
| SigmaRoc plc | OUTPERFORM | 18/09/24 | N/A | N/A | 115p |
| Ibstock plc | NEUTRAL | 30/06/25 | Outperform | 02/07/24 | 94.2p |
| Kingspan Group | OUTPERFORM | 12/05/11 | Neutral | 30/06/09 | 8125c |
| Marshalls | NEUTRAL | 10/11/21 | N/A | N/A | 130p |
| Saint-Gobain Group | OUTPERFORM | 29/01/21 | Neutral | 02/11/20 | 7440c |
| Stelrad Group plc | OUTPERFORM | 11/05/23 | N/A | N/A | 144p |
| Volution | OUTPERFORM | 08/04/26 | Neutral | 23/10/24 | 600p |
DAVY VIEW
Euroconstruct is now forecasting that construction volumes in its 19-country network will rise 2% this year, down from the 2.4% growth that had been anticipated. We believe the downward revision is unsurprising in the context of recent developments, namely war in the Middle East, the re-emergence of inflation risk and a change in interest rate expectations. Unfortunately, a lowering of expectations for European construction is not a new phenomenon and underlines how the trading environment for our coverage universe largely remains a struggle.
