Building Blocks for Performance

Research evidence excerpt

Building Blocks for Performance

EUROPE | Building, Construction &

Housebuilders EquityMayResearch14, 2026

After Glenveagh tomorrow, company updates continue next week with

Forterra on Tue, Ibstock on Thurs, and potentially Genuit on Friday. Industry

data points to watch include the UK house prices, CPI & PPI data, and

GfK consumer confidence; Germany build permits, construction orders, Ifo

business climate, and PPI; French business climate; US new resi sales, and .

NAHB housing market & cost of housing index. RATING UK HOUSEBUILDERS

Barratt Redrow Hold

Events: Infrastructure & Transport Summit, Home Of The Future - An Updated Vision, Bellway Buy• Berkeley Group Buy ARTBA Federal Infrastructure Funding & Market Outlook, German & Swiss Corporate Crest Nicholson Buy

Conference, Jefferies Global Industrials Conf NYC Persimmon Buy

Geberit: The Data Flow – What the Latest Data Tells Us Taylor Wimpey Buy•

US Construction Indicators Vistry Group Hold• PAN EURO BUILDING PRODUCTS

Vistry First View: Trading Update Amrize Hold•

Howden Joinery: Data Cabinet - What the Latest Data Tells Us CRH Buy•

Building & Construction: Charting the Way Forterra Buy• Geberit Buy

SIG: Model Update Post-1Q26• Genuit Buy

Chart of the Week: End not yet in sight for Travis Perkins' downgrade cycle Heidelberg Materials Buy•

Beats and Misses Through 1Q26 Holcim Hold• Ibstock Buy

Travis Perkins: Model Update – Another JEFe Cut Suggests Consensus Has Yet to Find• Kingspan Hold

a Floor Saint-Gobain Buy

Building Materials Model Updates: Returning To The Fore Sika Buy•

April Construction PMI: Sharp deterioration in activity and uptick in costs Volution Buy• PAN EURO DISTRIBUTORS

Infrastructure Blueprint Howden Joinery Hold•