Amsterdam – July 27, 2017 – Constellium N.V. (NYSE and Euronext Paris: CSTM) today reported results for second quarter ended June 30, 2017.
Shipments of 383 thousand metric tons, down 1% compared to Q2 2016; Automotive shipments up 18% compared to Q2 2016
Revenue of €1.4 billion, up 12% compared to Q2 2016 on higher aluminium prices
Net income of €15 million compared to €9 million in Q2 2016
Adjusted EBITDA of €127 million, up 19% from Q2 2016; H1 2017 Adjusted EBITDA up 11% from H1 2016
Significant improvement in H1 2017 Cash Flows from Operations and Free Cash Flow compared to H1 2016
Completed a $300 million pan U.S. ABL and a new €100 million inventory based revolving credit facility
“Project 2019” initiatives underway and already showing benefits
Intend to move corporate domicile to France and delist from Euronext to simplify corporate structure and reduce costs
Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Constellium delivered record Adjusted EBITDA during the second quarter. I’m pleased to note that each of our business units were meaningful contributors to these results. Automotive Structures and Industry reported another record quarter as its strong momentum continues. As we expected, Aerospace and Transportation delivered significantly improved results. Packaging and Automotive Rolled Products overcame incremental cost from our automotive readiness program in the U.S. and delivered results comparable to last year.”
Mr. Germain continued, “The strong second quarter results leave us well positioned to deliver at the high end of our high single-digit Adjusted EBITDA growth target for 2017. We remain steadfastly focused on executing our strategy and increasing value for our shareholders.”
