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 SE (NYSE: CSTM) has partnered with Renault Group to implement a closed-loop recycling system for the Megane E-TECH Electric. This innovative process will recycle aluminum manufacturing scrap back into production, minimizing CO2 emissions and maintaining material integrity. Constellium will provide high-quality aluminum sheets for both outer and inner panels of the vehicle. This partnership enhances both companies' sustainability efforts and contributes to the circular economy in the automotive sector. Additionally, Constellium is expanding its recycling capabilities with a €130 million investment in a new facility in Neuf-Brisach, expected to boost recycling capacity by approximately 130,000 tons by 2025.
Constellium SE (NYSE: CSTM) reported its Q1 2023 results, showing shipments of 389 thousand metric tons, a 3% decline from Q1 2022. Revenue fell 1% to €2.0 billion, while Value-Added Revenue (VAR) rose 16% to €754 million. Net income dropped significantly to €22 million from €179 million in the previous year. Adjusted EBITDA stood at €166 million, down 1%. Notably, cash from operations was €34 million, but free cash flow was negative at €(34) million. The company's net debt to LTM Adjusted EBITDA ratio was 2.8x. CEO Jean-Marc Germain expressed optimism despite ongoing economic uncertainties, raising the Adjusted EBITDA guidance for 2023 to between €650 million and €680 million.
Constellium SE (NYSE: CSTM) will conduct a conference call on April 26, 2023, at 10:00 AM ET to disclose its first quarter 2023 results. A press release will precede this event, ensuring investors have the latest information prior to market opening.
The call will be led by CEO Jean-Marc Germain and CFO Jack Guo. Interested parties can access the call via webcast on the Constellium Investor Relations page, and a recording will be available for three weeks following the event.
To join by phone, participants can dial various international numbers with the access code 442391. Constellium is recognized for its innovative aluminium products across multiple industries, reporting revenues of €8.1 billion in 2022.
Constellium SE (NYSE: CSTM) has submitted its annual report on Form 20-F for the fiscal year ending December 31, 2022, to the U.S. Securities and Exchange Commission. The report highlights that Constellium generated €8.1 billion in revenue during 2022, cementing its position as a leader in delivering innovative aluminum products across various markets, including aerospace and automotive. The full report is accessible on Constellium's website and the SEC's website. Shareholders can request hard copies of the audited financial statements free of charge.
On March 3, 2023, Constellium's CEO, Jean-Marc Germain, participated in a White House roundtable focused on industrial innovation and decarbonization, alongside U.S. officials and industry leaders. Germain emphasized the significance of public investments, such as those from the Inflation Reduction Act, to facilitate a transition to low-carbon operations while ensuring job protection and competitiveness. He underscored recycling's vital role in a sustainable economy and advocated for enhanced recycling initiatives. Constellium aims to reduce its greenhouse gas emissions intensity by 30% by 2030 compared to 2021 and to utilize at least 50% recycled input by the same year.
Constellium SE (NYSE: CSTM) reported its Q4 2022 results, showing a 5% decline in shipments to 368k metric tons, while revenue increased by 8% to €1.8 billion. Value-Added Revenue (VAR) rose 18% to €696 million. Net income jumped to €30 million from €7 million in Q4 2021. For the full year, revenue surged 32% to €8.1 billion, with net income at €308 million. The company anticipates continued strength in aerospace demand for 2023 and projects Adjusted EBITDA between €640 million and €670 million. Liquidity at year-end was €709 million, with net debt reduced to €1.891 billion.
Constellium SE (NYSE: CSTM) has announced the appointment of Jack Guo as Chief Financial Officer, effective April 1st, 2023, following the departure of Peter Matt. CEO Jean-Marc Germain expressed gratitude for Matt's contributions in transforming the company over six years, highlighting his role in improving operating results and strategic development. Guo, who joined Constellium in 2017 and has held various finance roles, is expected to drive financial performance and support the company's growth. Constellium reported €6.2 billion in revenue for 2021, positioning itself as a leader in innovative aluminium products.
Constellium (NYSE: CSTM) will host a conference call on February 22, 2023, at 10:00 AM EDT to announce its fourth quarter and full year 2022 results. The press release will be issued prior to market opening. CEO Jean-Marc Germain and CFO Peter Matt will lead the call.
Participants can join via telephone using access code 187102 by dialing USA: +1 646 664 1960 or other international numbers. A live webcast will be available on the Investor Relations page. An archived recording will be accessible for three weeks after.
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