PARIS, March 20, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) today announced the release of its 2023 Sustainability Report. This report highlights Constellium's steadfast dedication to shaping a sustainable and circular future, showcasing the company's initiatives in various areas of sustainability. "Constellium has continued to make strides in its sustainability journey, despite a challenging environment and the continued impact of the energy crisis in Europe", said Jean-Marc Germain, CEO of Conste ...

PARIS, March 19, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) ("Constellium") has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The 2023 Form 20-F is available on Constellium's website at https://www.constellium.com/investors and on the website of the U.S. Securities and Exchange Commission at www.sec.gov. Hard copies of the audited financial statements included in the 2023 Form 20-F are available upon request to sha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________ FORM 20-F __________________________________________________________________________ ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR ...

Constellium (CSTM) closed the last trading session at $19.82, gaining 3.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $25 indicates a 26.1% upside potential.The mean estimate comprises five short-term price targets with a standard deviation of $1.22. While the lowest estimate of $24 indicates a 21.1% increase from the current price level, the most optimistic analyst expects th ...

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PARIS, March 12, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) today announced its move towards industrial testing of hydrogen utilization in its casthouses, marking a significant step in its commitment to decarbonizing its operations. Recycling and casting are the most energy intensive operations and represent close to 50% of Constellium's direct greenhouse gas (GHG) emissions. Building upon successful laboratory-scale trials conducted in 2022 by C-TEC, Constellium's main R&D center, the Company was ...

PARIS, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) today announced that it is leading a new R&D initiative called "Close the Loop" in partnership with an ecosystem of recycling companies in France, including INDRA (automotive recycling), GALLOO (metal recycling) and MTB RECYCLING (metal shredding & sorting). Funded in part by the French Environmental Agency ADEME under the France 2030 program, the Close the Loop project aims to develop technologies to dismantle, sort and remelt wrought alum ...

Financial Data and Key Metrics Changes - Shipments decreased by 9% to 336,000 tons in Q4 2023 compared to Q4 2022, with revenue of €1.6 billion down 13% year-over-year due to lower shipments and metal prices [13][14] - Value-added revenue was €681 million in Q4 2023, down 2% from the previous year, while net income fell to €11 million from €30 million [14][37] - Adjusted EBITDA increased by 15% to €171 million in Q4 2023, marking a record performance for the company [15][38] - For the full year 2023, adjusted EBITDA reached €713 million, up 6% from 2022, with free cash flow totaling €170 million [38][58] Business Line Data and Key Metrics Changes - In the P&ARP segment, adjusted EBITDA was €82 million, up 16% year-over-year, driven by improved contract pricing and a stronger mix [33][42] - The AS&I segment saw adjusted EBITDA decrease by 22% to €25 million, impacted by lower shipments in the industrial market [35][44] - The A&T segment reported adjusted EBITDA of €76 million, a 36% increase, with aerospace shipments up around 10% [43][34] Market Data and Key Metrics Changes - The European market is currently weaker, particularly affecting German OEMs, while North America shows stronger demand in automotive [23][68] - The packaging market is expected to grow low to mid-single digits in both North America and Europe, with canstock demand stabilizing [54][66] - The aerospace market remains strong, with major OEMs focused on increasing build rates for aircraft [76][65] Company Strategy and Development Direction - The company plans to return a significant portion of free cash flow towards share repurchases while maintaining financial flexibility for potential M&A opportunities [16][30] - Investments in recycling operations are prioritized to increase recycling content and capacity [24][60] - The company aims to achieve a record adjusted EBITDA of over €800 million by 2025, supported by the startup of the recycling center in Neuf-Brisach [71][82] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about 2024 despite uncertainties in the macroeconomic environment, targeting adjusted EBITDA between €740 million and €770 million [71][30] - The company is focused on cost control and pricing strategies to mitigate inflationary pressures, with expectations for moderated inflation in 2024 [47][36] - The automotive sector is expected to remain strong in North America, while Europe faces challenges [68][105] Other Important Information - The company has authorized a share repurchase program of up to $300 million, expected to begin in the first half of 2024 [30][60] - Net debt decreased to €1.7 billion, with leverage at a multiyear low of 2.3x, within the target range [49][61] - Changes to the presentation of non-GAAP financial measures will be implemented, particularly regarding the treatment of metal price lag [62][50] Q&A Session Summary Question: Timing of the general meeting - The general meeting is scheduled for early May [73] Question: Share buybacks and dilution offset - Management confirmed that share buybacks will initially offset dilution, with potential for more aggressive repurchases post-general meeting [74] Question: Margin expectations for A&T business - Management indicated that margins for the A&T business are expected to remain strong, with a recovery in TID contributing positively [87][88] Question: Impact of weather on Muscle Shoals operations - Management acknowledged that extreme weather impacted operations, leading to potential shipment losses in Q1 [104][105] Question: Supply of scrap in the market - Management expressed confidence in the availability of scrap to meet growing demand, emphasizing the importance of domestic recycling [98][116] Question: Future capacity and production timelines - Management noted that while there are shifts in production timelines, demand remains strong, and capacity expansion is being considered [134][136]