Constellium Se - CSTM STOCK NEWS

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.

Constellium (NYSE: CSTM) has completed the divestment of its Ussel plant to Noe Industries. This facility employs 250 people and generated approximately €20 million in revenue in 2021, specializing in precision casting for the aerospace and defense sectors. The transaction follows the successful regulatory consultation process with employee representatives. Specific terms of the deal will remain confidential. This divestment aligns with Constellium's strategy to streamline operations and focus on core business areas. In 2021, Constellium reported total revenue of €6.2 billion.

Constellium (NYSE: CSTM) has signed a multi-year contract with Daher to provide a variety of flat-rolled aluminium products for the TBM and Kodiak aircraft. This agreement marks Constellium's expansion in the business and regional jets market, establishing it as Daher’s strategic aluminium supplier. The two companies will collaborate on supply chain initiatives and product development, particularly focusing on sustainability and lightweight solutions for increasing production rates. Constellium’s facility in Issoire, France, will handle the supply.

Constellium SE (NYSE: CSTM) leads the CirConAl project, a £10 million initiative supported by the UK's Advanced Propulsion Centre to develop low carbon, cost-effective aluminium extrusion alloys. The project aims to utilize post-consumer scrap to produce high-strength alloys with minimal CO₂ emissions. It focuses on enhancing scrap sorting technologies and meeting automotive OEM performance standards, promoting a circular economy. Constellium targets a 30% reduction in carbon emissions intensity by 2030 and aims for 50% of its aluminium to come from recycled sources.

Constellium (NYSE: CSTM) announced its role as the primary supplier of aluminium Auto Body Sheet for the all-new Maserati Grecale SUV. The company provides Surfalex® for the outer surfaces and its 5182 alloy for the inner structures, enhancing safety and efficiency due to aluminium's lightweight properties. This collaboration strengthens Constellium's position as a key player in the automotive sector, having supplied solutions for a significant number of vehicles in Europe and the U.S. in 2021, generating €6.2 billion in revenue.

Constellium (NYSE: CSTM) has joined the First Movers Coalition, a global initiative aimed at accelerating zero-carbon technologies. By 2030, Constellium pledges that 10% of its primary aluminium purchases will be near-zero emissions and at least 50% of its aluminium will come from recycled sources. The company's commitment aligns with its target of a 30% reduction in carbon emissions intensity by 2030. The initiative, led by the World Economic Forum, includes over 50 firms striving for climate goals in hard-to-abate sectors.

Constellium SE (CSTM) reported third quarter 2022 results with net income of €131 million, a 32% increase from €99 million in Q3 2021. Revenue reached €2 billion, up 27% year-over-year, driven by higher metal prices and improved pricing mix, despite a 2% decrease in shipments to 387 thousand metric tons. Adjusted EBITDA was €160 million, a 12% increase from Q3 2021. For the first nine months, revenue was €6.3 billion, a 41% increase compared to the same period last year. The company anticipates Adjusted EBITDA in 2022 between €670 million and €690 million amid ongoing inflationary pressures.