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Constellium Reports Fourth Quarter and Full Year 2019 Results

Metal News - Published on Fri, 21 Feb 2020

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Constellium SE has reported results for the fourth quarter and full year ended December 31, 2019. Constellium’s Chief Executive Officer Mr Jean-Marc Germain said “Constellium delivered strong results in 2019. Our Adjusted EBITDA of EUR 562 million increased by 13%, driven by excellent performance from our Packaging and Automotive Rolled Products and Aerospace and Transportation segments. Notably, 2019 represented our third consecutive year of double digit Adjusted EBITDA growth. I am proud of Constellium's performance in 2019.”

Fourth quarter 2019 highlights:
Shipments of 368 thousand tonnes, comparable to Q4 2018
Revenue of EUR 1.4 billion, down 2% compared to Q4 2018
Net income of EUR 22 million increased compared to net loss of €57 million in Q4 2018
Adjusted EBITDA of EUR 121 million, up 15% compared to Q4 2018

Full year 2019 highlights:
Shipments of 1.6 million tonnes, up 4% compared to 2018
Revenue of EUR 5.9 billion, up 4% compared to 2018
Net income of EUR 64 million decreased compared to net income of €190 million in 2018
Adjusted EBITDA of EUR 562 million, up 13% compared to 2018

Mr. Germain added “I am optimistic about 2020. Based on our current outlook, we expect Adjusted EBITDA growth of 6% to 9% and Free Cash Flow generation of EUR 125 million to EUR 175 million in 2020. We remain on track to deliver on our long-term targets of Adjusted EBITDA over EUR 700 million and leverage of 2.5x in 2022. We are committed to shareholder value creation through the execution of our strategy.”

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Posted By : Rabi Wangkhem on Fri, 21 Feb 2020
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