Heidelberg Materials (HEI GY) CEO sees slightly better market for building materials in 2026 and sees growth in 2026 driven by infrastructure, defence spending, and subdued market for housing; comfortable with FY guidance for 2025 operating result

• Will consider acquisitions of all sizes and rules out deals of more than EUR 10bln.

Heidelberg Materials' CEO indicated a cautiously optimistic outlook for the building materials market in 2026, driven by infrastructure and defense spending, while acknowledging a weaker housing market. The firm’s comfort with FY 2025 guidance suggests stability in operations, but their focus on acquisitions under EUR 10 billion may restrict growth potential. This information signals a strategic approach to growth amidst a challenging market, which could influence investor sentiment towards the stock and the broader construction materials sector.