INDEX References to "tons" throughout this quarterly report are to metric tons and to "kt" to thousands of metric tons. Amounts may not sum due to rounding. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis includes forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that could cause our actual results to dif er materially from those expressed or implied by our forwardlook ...

Financial Data and Key Metrics Changes - Shipments decreased by 5% year-over-year to 378,000 tons, primarily due to lower shipments in P&ARP and AS&I segments [11] - Revenue declined by 8% to €1.8 billion, attributed to lower shipments and unfavorable price and mix, partially offset by higher metal prices [11] - Net income increased to €71 million from €32 million in the same quarter last year [12] - Adjusted EBITDA was €214 million, including a positive non-cash impact from metal price lag of €42 million; excluding this impact, adjusted EBITDA was €172 million, down from €209 million last year [12] Business Line Data and Key Metrics Changes - **P&ARP Segment**: Adjusted EBITDA decreased by 19% to €64 million, with packaging shipments down 4% and automotive shipments down 3% [15][16] - **A&T Segment**: Adjusted EBITDA decreased by 14% to €83 million, with stable shipments; aerospace demand remained strong while TID showed weakness [17] - **AS&I Segment**: Adjusted EBITDA decreased by 19% to €32 million, with automotive shipments down 13% and industry shipments down 20% [18] Market Data and Key Metrics Changes - Aerospace demand remained strong, with robust commercial aircraft backlogs; however, automotive demand weakened in Europe while remaining stable in North America [13][31] - Packaging demand continued to improve, with expectations for growth in Canstock in 2024 [33] - Industrial and specialty markets remained weak, particularly in Europe, impacted by higher interest rates [36] Company Strategy and Development Direction - The company is focused on sustainability-driven markets, emphasizing aluminum's role as a lightweight and recyclable material [23] - Planned capital expenditures for 2024 are around €370 million, including investments in a recycling and casting center [25] - The company is committed to maintaining a leverage range of 1.5 to 2.5 times and has a strong liquidity position of €869 million [27] Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures have eased but labor and non-metal costs remain high; energy costs for 2024 are secured at more favorable levels [24] - The company expects to generate over €100 million in free cash flow for 2024, excluding the impact of flooding in Valais [21][50] - Management expressed confidence in achieving adjusted EBITDA of over €800 million in 2025, driven by operational improvements and new projects [56][92] Other Important Information - The company experienced significant flooding in Valais, Switzerland, leading to operational suspensions and an estimated gross damage of €135 million [42][46] - The company is working on mitigation plans and has received some governmental assistance; however, guidance for 2024 has been paused due to uncertainties [49] Q&A Session Summary Question: 2025 EBITDA outlook and growth drivers - Management expects a €90 million to €100 million increase to reach over €800 million in EBITDA, driven by operational normalization and new projects [56][92] Question: Flooding impact and production adjustments - Management confirmed that some production is being shifted to other facilities to meet customer needs while planning to restart operations in Valais [64][70] Question: Competition and tariffs - Management acknowledged new competition in the US market but expressed confidence in their ability to meet demand; the impact of potential tariffs remains uncertain [74][77] Question: Valais site contribution to EBITDA - Management indicated that the Valais site is not a significant contributor to overall earnings, and most of its impact will be restored by 2025 [85][86]

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 ...

Company Overview - Constellium is expected to report quarterly earnings of $2.12 per share, reflecting a year-over-year increase of +39.5% [3] - The company reported quarterly earnings of $0.52 per share, surpassing the Zacks Consensus Estimate of $0.43 per share, compared to earnings of $0.35 per share a year ago [9] - Constellium's revenues for the quarter ended June 2024 were $1.93 billion, which was 7.86% below the Zacks Consensus Estimate and down from $2.12 billion year-over-year [13] Earnings Performance - The recent quarterly report showed an earnings surprise of 20.93% [4] - Over the last four quarters, Constellium has exceeded consensus EPS estimates two times [7] - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $2.22 billion, and for the current fiscal year, it is $1.71 on revenues of $8.37 billion [6] Market Position and Outlook - Constellium shares have declined approximately 7.3% since the beginning of the year, while the S&P 500 has gained 16.7% [10] - The Zacks Industry Rank for Metal Products - Distribution, to which Constellium belongs, is in the top 14% of over 250 Zacks industries, indicating a favorable industry outlook [8] - The estimate revisions trend for Constellium is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [11]

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 ...