Welcome to our dedicated page for Constellium SE news (Ticker: CSTM), a resource for investors and traders seeking the latest updates and insights on Constellium SE stock.
Constellium SE (Symbol: CSTM) is a global leader in the design and manufacture of high-quality rolled and extruded aluminum products. With over 10,000 employees, we leverage our expert teams, world-class R&D center, and outstanding facilities to serve a broad range of markets, including aerospace, automotive, and packaging. Our commitment to innovation and sustainability helps us create value-added and recyclable aluminum solutions that meet the evolving needs of our customers.
Our business is organized into three primary segments:
- Packaging and Automotive Rolled Products (P&ARP): This segment focuses on producing rolled aluminum products at our European and North American facilities, catering to the packaging and automotive markets.
- Aerospace and Transportation (A&T): We manufacture rolled aluminum products and a limited volume of extruded products for the aerospace and transportation sectors, utilizing our facilities in Europe and North America.
- Automotive Structures and Industry (AS&I): This segment is dedicated to the production of extruded aluminum products and aluminum structural components, primarily for the automotive and industrial markets.
In 2023, Constellium generated strong financial results with a record Adjusted EBITDA of €713 million and Free Cash Flow of €170 million, despite facing inflationary pressures and market headwinds. Our CEO, Jean-Marc Germain, acknowledged the dedication of our 12,000 employees and expressed confidence in our future prospects. We anticipate continued growth in our key markets, supported by a share repurchase program of up to $300 million and targeted Adjusted EBITDA of over €800 million by 2025.
Our latest news includes the announcement of a solid financial performance for the fourth quarter and full year ended December 31, 2023. We remain focused on executing our strategy, enhancing shareholder value, and navigating the challenges of inflationary pressures and market softness in certain segments.
For more detailed financial information and updates, please refer to our latest consolidated statements and non-GAAP measures.
Constellium (NYSE: CSTM), a key supplier for NASA's Space Launch System and Orion spacecraft, recently met with Members of Congress to advocate for suppliers nationwide. The company highlighted its role in supporting over 18,000 jobs across all 50 states in the Artemis program, aimed at returning humans to the Moon and venturing to Mars. Constellium manufactures innovative aluminum-lithium alloy solutions at its Ravenswood, West Virginia facility, contributing to the performance of essential space modules. In 2020, Constellium generated €4.9 billion in revenue.
Constellium SE (NYSE: CSTM) reported Q4 2020 shipments of 374K metric tons, a 2% increase year-over-year, with revenues of €1.2 billion, down 9%. Net income rose to €26 million, compared to €22 million in Q4 2019. For the full year, shipments fell 10% to 1.4 million metric tons, with revenues down 17% to €4.9 billion and a net loss of €17 million versus €64 million profit in 2019. Adjusted EBITDA declined both quarterly and annually. The company is optimistic for 2021, targeting over €100 million in Free Cash Flow despite ongoing macroeconomic uncertainty.
Constellium SE (NYSE: CSTM) has announced the successful settlement of its cash tender offer for all of its outstanding 6.625% Senior Notes due 2025, which closed on February 24, 2021. The tender offer, which expired on February 19, resulted in $165,681,000 of the Notes being validly tendered. The company will also redeem any remaining unpurchased Notes at a price of 101.656% plus accrued interest on March 11, 2021. This tender offer coincided with a $500 million offering of new 3.750% Sustainability-Linked Senior Notes due 2029.
Constellium (NYSE: CSTM) announced a cash tender offer to purchase all of its outstanding 6.625% Senior Notes due 2025, totaling $650 million. The offer expires on February 19, 2021, with a settlement date expected on February 24, 2021. The tender offer will require financing through an offering of unsecured notes. Holders of the notes can withdraw their tenders by the specified deadlines. The company also plans to redeem all outstanding notes at 101.656% of the principal amount on March 11, 2021, subject to certain conditions.
Constellium SE (NYSE: CSTM) announced preliminary fourth quarter 2020 results, indicating shipments of about 374 thousand tons, a 2% increase year-over-year. Revenue is projected between €1.24 billion and €1.25 billion, reflecting a 9% decline from Q4 2019. The income before tax is expected to range from €11 million to €29 million, while adjusted EBITDA is anticipated between €106 million and €116 million, representing a decrease of 4% to 12%. Net cash flow from operating activities is estimated at €327 million to €337 million for 2020, with free cash flow of €150 million to €160 million.
A conference call to discuss the results will take place on February 25, 2021.
Constellium (NYSE: CSTM) announced plans to enhance its recycling capacity in Europe, aiming to add at least 60 kt of annual capacity. This initiative supports its automotive and packaging sectors, reflecting its commitment to sustainability and ESG objectives. The project is expected to rely on recycled aluminium, which significantly reduces energy consumption and CO2 emissions. Finalization of the project scope is anticipated by the end of 2021, with production set to begin within two years post-construction. Constellium generated €5.9 billion in revenue in 2019.
Constellium and Novelis have launched Alumobility, a non-profit organization aimed at promoting the adoption of aluminum in automotive manufacturing. This global alliance focuses on developing practical solutions for lighter, safer, and more sustainable vehicles. Alumobility aims to drive technical innovations such as next-generation aluminum door designs and a competitive all-aluminum structural B-pillar. The initiative highlights aluminum's role in electric vehicles and emphasizes sustainability through recycling and reduced carbon emissions. An executive director will be appointed soon to lead this collaborative effort.
Constellium SE (NYSE: CSTM) announced the launch of Project ISA3, a €7 million R&D initiative in collaboration with Groupe Renault, ESI Group, and the University of Lorraine. This project aims to develop lightweight, recyclable aluminum solutions for the automotive sector to facilitate the transition from steel to aluminum. A key goal is to reduce the cost of aluminum parts, particularly doors, by half. Additionally, the project focuses on enhancing the recycling process to minimize environmental impact and is scheduled to run through 2023, partially funded by Bpifrance.
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