Saint-Gobain falls 5%, one of its competitors worries about the sharp deterioration of the economy in the last two months


The Irish Kingspan, specializing in insulation, notes a “significant” drop in orders.

Saint-Gobain falls 5%, one of its competitors worries about the sharp deterioration of the economy in the last two months

Saint-Gobain falls 5%, one of its competitors worries about the sharp deterioration in the economy over the past two months | Photo credits: Sipa

Saint-Gobain fell by 5% this Monday morning on the Cac 40, signing the largest drop in the Parisian star index, while, in the same building materials business, the Irish Kingspan, specialist in insulation, plunges more than 13% in Dublin. He just warned of a major deterioration in market conditions as the global economy falters in the face of soaring commodity prices.

Kingspan management explains in a press release that they have seen “The mood of most end markets has deteriorated over the past two months, with order volume down significantly from the May-June 2021 period, although up from the same period in 2019.” Its order book for insulating panels “is down 2% in volume at the end of May after being ahead 19% at the end of March. »


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