Constellium Reports 2020 Results
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Constellium Reports 2020 Results

Constellium SE has reported results for 2020. Constellium’s Chief Executive Officer Mr Jean-Marc Germain said “Constellium delivered resilient results in

Constellium SE has reported results for 2020. Constellium’s Chief Executive Officer Mr Jean-Marc Germain said “Constellium delivered resilient results in 2020 despite the significant challenges presented by the COVID-19 pandemic. We reacted quickly to the crisis, demonstrating strong cost control while retaining the ability to meet demand from recovering markets. Our Packaging & Rolled Products segment delivered record Adjusted EBITDA with strong operational performance at all plants. Automotive Structures & Industry turned the corner after the operational challenges of 2019 and is on track to return to historical profitability levels. While weaker aerospace demand challenged our Aerospace & Transportation business, the team delivered impressive cost reductions and remains ready for a potentially strong rebound after the current destocking period has run its course.”

Full year 2020 highlights:

Shipments of 1.4 million tonnes, down 10% compared to 2019

Revenue of EUR 4.9 billion, down 17% compared to 2019

Net loss of EUR 17 million compared to net income of EUR 64 million in 2019

Adjusted EBITDA of EUR 465 million, down 17% compared to 2019

Mr Germain concluded "I firmly believe that Constellium is a stronger company after the aggressive actions taken in response to the COVID-19 crisis. Looking forward to 2021, our top priority remains the health and safety of our employees. I am optimistic about Constellium's prospects in 2021 despite continued macroeconomic uncertainty. While this uncertainty leaves us unable to provide Adjusted EBITDA guidance beyond the first quarter, we remain firmly committed to consistent Free Cash Flow generation and expect it to be over €100 million in 2021.”

Constellium is a global leader in the development and manufacturing of high value-added aluminium products and solutions. We design and manufacture advanced alloys and engineered solutions for a range of applications, such as cars, beverage cans, airplanes and more.

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