Building & Construction: Monthly Weather Tracker

Research evidence excerpt

Building & Construction: Monthly Weather Tracker

EUROPE | Building, Construction &

Housebuilders EquityJulyResearch2, 2026

Building & Construction: Monthly Weather This monthly Weather Tracker monitors

severe weather events across 27 countries,Tracker and for the US at the state level. The

The less wet weather across the Northern Hemisphere in June has followed analysis considers the number of days

of geographically relevant severe weather

similar trends to what has been seen throughout Q2. No tracked country (precipitation, wind, cold, heat, hurricanes),

in Europe saw more severe rainy days than 10yr averages in Q2, while only relative to both the previous year and the

Poland, Sweden and Norway saw more severe rain YoY, while potential 10-year average, and accords a score to

disruption from Europe's heatwave remains to be seen. The US has seen each country (above 50 being positive, below

50 being negative). We then weight this forrainfall in-line with averages for Q2, however severe hail in May and June

each company by its exposure to provide a

has been notably lower. company score each month.

Holcim, Heidelberg, Kingspan, Sika and Saint-Gobain. With the less wet and hotter weather

continuing in June in Europe, Q2 comes in noticeably dryer than average. France, Germany,

Spain and Italy have all seen less extreme precipitation days YoY which should be a positive,

however some limited disruption may have been caused by the heatwaves (e.g. temporary

outdoor working bans in Italy). While Romania and Poland are still seeing less rain than

average, compared to last year the number of rainy days are more in-line. Latin America was

also less wet than average overall in Q2 (albeit with Mexico seeing a large increase in severe

rain vs last year).