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Constellium Reports Second Quarter 2020 Results

Metal News - Published on Fri, 31 Jul 2020

Image Source: Constellium Coronavirus COVID19
Constellium SE has reported results for the second quarter ended June 30, 2020. Constellium’s Chief Executive Officer Jean-Marc Germain said “The COVID-19 pandemic has challenged our employees and our business. Protecting the health and safety of our employees and their families remains our top priority. Despite difficult market conditions, our business delivered solid operating results in the quarter, particularly Muscle Shoals in meeting strong packaging demand. We generated Free Cash Flow of €54 million in the first half of 2020. We also strengthened our financial profile by increasing our liquidity to €949 million. I am very proud of the way our team responded swiftly to the crisis by reducing our costs and cash expenditures and demonstrated the flexibility and resilience of our business model.

For the second quarter of 2020:
Shipments of 310 thousand metric tons, down 25% compared to Q2 2019
Revenue of EUR 1.0 billion, down 33% compared to Q2 2019
Net loss of EUR 32 million compared to net income of EUR 17 million in Q2 2019
Adjusted EBITDA of EUR 81 million, down 51% compared to Q2 2019

For the first half of 2020:
Shipments of 703 thousand metric tons, down 15% compared to H1 2019
Revenue of EUR 2.5 billion, down 20% compared to H1 2019
Net loss of EUR 63 million compared to net income of EUR 41 million in H1 2019
Adjusted EBITDA of EUR 228 million, down 24% compared to H1 2019

Source :

Posted By : Yogender Pancholi on Fri, 31 Jul 2020
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