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Constellium reported Q2 2016 results today and continued with its continuous strong performance partially offset by lower metal prices.  In comparison to the same period of 2015, below are the highlights for this quarter. 
• Total shipments of 387k metric tons

• Total revenue of €1.2 billion, down 10% caused by lower metal prices

• Net income of €9 million compared to a €47 million net loss YoY

• Adjusted EBITDA up 15% at €107 million

• Cash Flow of €182 million

• Strong Adjusted EBITDA in all segments

Keeping aside seasonal downsides, Constellium’s Q2 2016 results reflect strong performance in Automotive Structure & Industrial segment, which achieved record quarterly Adjusted EBITDA. The results also reflect improved performance in Aerospace &Transportation and Packaging & Automotive Rolled Products segments.

The total revenues for Q2 2016 were €1.2 billion, a drop of 10% from the Q2 2015 mainly due to lower metal prices. Revenue decreased by 3% for this quarter if external factors are excluded. Q2 net income was €9 million compared to a €47 million net loss in the Q2 2015. Adjusted EBITDA for Constellium reached a record €107 million, an increase of 15% from Q2 2015. As a result of stable demands for Constellium products, Q2 shipments were in-line with 2015 at 387k metric tons.  Adjusted EBITDA per metric ton was €275, which is a 15% increase from €241 during Q2 2015.

For H1 2016, Constellium reported Adjusted EBITDA of €199 million, which is up 6% YoY, reflecting record performance in Automotive Structure & Industrial segment and recovery in Aerospace &Transportation. This was partially offset by softer results in Packaging & Automotive Rolled Products. For H1 2016, net income was €1 million compared to a €78 million net loss in same period in 2015. Adjusted EBITDA was up 8% to €265 compared to €245 in H1 2015. Revenues for H1 were €2.4 billion which recorded a drop of 14% YoY, primarily due to lower metal prices. On a like-for-like basis, revenues decreased by 4% for the period.

Jean-Marc Germain, Constellium’s newly appointed Chief Executive Officer commented positively on the Q2 results: “I am honored to be part of Constellium and to lead the continuing development of our global automotive and aerospace platforms to the next level, while maintaining our focus on operational execution in our packaging business. Constellium’s second quarter results demonstrated continued strong performance in AS&I and improvement in both our A&T and P&ARP segments.”

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