Forward-Looking Statements Second Quarter 2024 - Earnings Call - 2 This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Free Cash Flow and Net debt. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this information to also be useful for investors. Adjusted EBITDA measures are frequently used by securities analysts, investors and other interested parties in their ...

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estim ...

PARIS, July 23, 2024 (GLOBE NEWSWIRE) -- Constellium (NYSE:CSTM) announced today that its facility in Muscle Shoals, Alabama has been selected by the U.S. Department of Defense (DoD) for an investment of $23 million under Title III, Defense Production Act to rebuild its Direct Chill aluminium casting center. "This investment under the Defense Production Act will enable our industry to meet the rapidly increasing demand for the aluminium products needed not only for our national security, but also necessary ...

As a reminder of the press release issued on February 21, 2024 and following the SEC comment letter review process, Constellium will no longer report Value-Added Revenue (VAR), a Non-GAAP financial measure. In addition, the Company has revised its definition of consolidated Adjusted EBITDA, a Non-GAAP financial measure, to no longer exclude the non-cash impact of metal price lag from its consolidated Adjusted EBITDA. Constellium will continue to exclude the non-cash impact of metal price lag from its Segmen ...

Group 1 - Constellium has signed a long-term agreement with Lotte Infracell to supply foilstock for battery applications in Europe, emphasizing its commitment to the electric vehicle market [5][6][7] - The company plans to invest approximately €30 million in new finishing lines at its Singen facility, which will enhance production capacity and create around 20 new jobs [1][7] - Constellium generated €7.2 billion in revenue in 2023, indicating its strong market position and financial performance [6] Group 2 - Aluminium's properties, such as lighter weight and lower cost, make it advantageous for large-scale battery production for electric vehicles, aligning with Constellium's innovative product offerings [2] - The partnership with Lotte Infracell is expected to ensure a reliable supply of high-quality foilstock, supporting the rapid growth of the electric vehicle market in Europe [6][7]

Under this agreement, Constellium will supply high-quality foilstock from its Singen site in Germany. With Lotte Infracell's financial support, Constellium is planning to invest around €30 million in new finishing lines at its Singen facility to enhance production capacity, creating around 20 new jobs in the process. This strategic investment is expected to further cement Constellium Singen's position as a key player in the aluminium automotive specialties market. "We are excited to partner with Constellium ...

PARIS, July 15, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) announced today the successful completion of its first industrial-scale hydrogen casting at C-TEC, Constellium's primary R&D center. This casting was performed in a 12-ton furnace following strict internal procedures. Quality monitoring, including the use of Batscan™ technology, an inclusion detection tool for molten aluminium, was conducted and no quality impact from hydrogen combustion on the metal was observed. "We are thrilled to announ ...

"We are thrilled to announce the successful completion of our first industrial-scale hydrogen casting. This achievement marks a pivotal step in Constellium's journey towards decarbonizing our industrial activities. Utilizing hydrogen as a substitute for natural gas not only demonstrates our commitment to sustainability but also paves the way for future innovations in green technologies," said Ludovic Piquier, Senior VP, Manufacturing Excellence and Chief Technical Officer of Constellium. Constellium is acti ...

PARIS, May 15, 2024 (GLOBE NEWSWIRE) -- Constellium SE ("Constellium" or the "Company") announced today that the voting results for its Annual General Meeting of Shareholders held on May 2, 2024 (the "AGM") have been published on the Company's website (https://www.constellium.com/investors/shareholder-meetings). All the proposals were adopted at the AGM, including the re-appointment of Jean-Christophe Deslarzes, Isabelle Boccon-Gibod and Jean-Philippe Puig to the Company's Board of Directors for a period of ...

Financial Data and Key Metrics Changes - Revenue for the quarter was €1.7 billion, a decrease of 12% compared to the previous year, primarily due to lower metal prices and lower shipments [112] - Net income was €17 million, down from €22 million in the first quarter of last year [117] - Adjusted EBITDA was €137 million, which includes a negative noncash impact from metal price lag of €13 million; excluding this impact, adjusted EBITDA reflects €150 million compared to €166 million last year [117] - Free cash flow was negative €8 million for the quarter, but the company expects to generate positive free cash flow of over €130 million for the full year [118] Business Line Data and Key Metrics Changes - The P&ARP segment generated adjusted EBITDA of €43 million, down 21% compared to the first quarter last year, impacted by significant weather-related issues at the Muscle Shoals facility [132] - The A&T segment delivered record first-quarter adjusted EBITDA of €80 million, an increase of 10% compared to last year, with aerospace shipments up 6% [133] - Industry shipments were down 28% due to the sale of the German extrusion business, with price and mix headwinds of €10 million [120] Market Data and Key Metrics Changes - Aerospace demand continued to grow, although it remains below pre-COVID levels; major OEMs are focused on increasing build rates despite supply chain issues [16] - Automotive shipments increased by 1% in North America but faced softness in Europe, with expectations of continued weakness in European automotive markets [125] - Demand in industrial and specialty markets remained weak across both North America and Europe [8] Company Strategy and Development Direction - The company is focused on growing its value-added products, particularly in aerospace, with significant investments in new casthouses to increase capacity [18] - The long-term outlook for packaging markets is favorable, with expected growth in Canstock and low to mid-single-digit growth in both North America and Europe [15] - The company aims to enhance its recycling capabilities and reduce reliance on primary producers through strategic investments [107] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing operational challenges at the Muscle Shoals facility but expressed optimism about improved performance as the year progresses [40] - The company maintains its guidance for 2024, targeting adjusted EBITDA in the range of €740 million to €770 million and free cash flow exceeding €130 million [143] - Management highlighted strong demand in key markets, including aerospace and North American automotive, while remaining cautious about European market conditions [60] Other Important Information - The company launched a share repurchase program in March, repurchasing 330,000 shares for approximately $7 million [118] - Moody's upgraded the company's credit rating to BA3 with a stable outlook, reflecting progress in capital structure and financial flexibility [124] Q&A Session Summary Question: Impact of weather on Muscle Shoals performance - Management did not quantify the impact of the heavy snow but indicated that performance would have been better without the unusual weather event [68] Question: Expectations for P&ARP margins - Management expects improved performance at Muscle Shoals and more recycling benefits to help achieve over €300 per ton margins [174] Question: Changes in demand due to OEM production changes - Management stated that they have not seen any impact on demand for aerospace products despite changes in narrow-body production by an OEM [90] Question: Future of aluminum tariffs and their impact - Management expressed uncertainty about the impact of potential tariff increases but noted that anti-dumping tariffs could level the playing field [71][85] Question: Strategy for share repurchase and M&A opportunities - The company is committed to its share buyback program while remaining selective about potential M&A opportunities that meet internal return criteria [96]