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Constellium Reports Strong 2013 Financial Results
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Director, External Communications

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Constellium Corporate Office

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40-44, rue Washington

75008 Paris

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+33 (0)1 73 01 46 00

Constellium Reports Strong 2013 Financial Results

20 March 2014

Amsterdam, March 20, 2014 – Constellium N.V. (NYSE and NYSE Euronext: CSTM) today reported results for the quarter and year ended December 31, 2013.

Highlights of results include:

  •  
         2013 Sales of €3.5 billion, up 4% on a like-for-like basis
  •  
         2013 Adjusted EBITDA of €280 million, up €57 million or 26% from 2012
  •  
         Q4 Adjusted EBITDA of €59 million, up €17 million or 40% from Q4 2012
  •  
         2013 Adjusted EBITDA per metric ton of €273, up €57 or 26% from 2012
  •  
         Financial results from all reporting segments ahead of prior year
  •  
         Year-end net debt of €132 million, reduced from Q3 net debt of €181 million

Constellium’s Adjusted EBITDA for 2013 was €280 million, which represented an increase of 26% from 2012 Adjusted EBITDA of €223 million. Fourth quarter 2013 Adjusted EBITDA was €59 million, which represented an increase of 40% from €42 million in Q4 2012. Our 2013 performance was supported by improved productivity and favorable demand for our products primarily in the automotive and aerospace sectors.

Adjusted EBITDA per metric ton for 2013 was €273, which represented an increase of €57 per metric ton, or 26% higher than the Adjusted EBITDA per metric ton of €216 in 2012. 

Total shipments in 2013 were 1,025k metric tons, approximately flat with 2012 shipments. Higher shipment volumes in aerospace and automotive were offset by lower volumes in soft alloys and packaging. On a like-for-like basis, adjusting for divestitures, total shipments represented an increase of 11k metric tons. Revenues for 2013 were €3,495 million, which represented a decrease of €115 million, or 3% from 2012 revenues of €3,610 million; however after adjusting for constant London Metal Exchange (or LME) prices, exchange rates and the divestiture of two soft alloy plants in France, revenues for 2013 calculated on a like-for-like basis were 4% ahead of 2012.

In Q4 2013, total shipments were 234k metric tons, approximately flat with Q4 2012 shipments.  Revenues for Q4 2013 were €806 million, which represented a decrease of €9 million from Q4 2012, however after adjusting for constant LME prices, exchange rates and the divestiture of two soft alloy plants in France, revenues for Q4 calculated on a like-for-like basis were 9% ahead of Q4 2012 and total shipments represented an increase of 5k metric tons. Adjusted EBITDA per ton increased 40% in Q4 2013 to €253 per metric ton compared with Q4 2012.

In 2013, we implemented a new contract with Airbus and we signed a new contract with Boeing. Our results were favorably impacted by the combined enhancement of our product mix, higher sales to the aerospace and automotive markets and the continued benefit from the cost and productivity improvements achieved, partially offset by the limited impact of work stoppages at two of our French plants.

Commenting on 2013, Pierre Vareille, Constellium’s Chief Executive Officer said: “2013 was a transformational year for Constellium. We posted strong year over year financial performance improvement across all reporting segments on the back of continued improvement in our operational performance and positive market conditions. Importantly we became a public company and recently increased our public float to more than 84% of shares outstanding. In automotive, accelerating trends in both Europe and in North America are fueling our expansion on both continents. Going forward, we believe the long term outlook for our targeted business segments remains favorable and we expect to continue in our drive to enhance shareholder value.”

Media contacts

Constellium 
Nicolas Brun
Phone: +33 (0)1 73 01 46 13
nicolas.brun@constellium.com

Richard Ham – Investor Relations Europe
Paul Blalock – Investor Relations North America
investor-relations@constellium.com

Media relations Constellium Corporate
Aina Ramboatiana
Phone: +33 (0)1 80 50 53 11
aina.ramboatiana@clai2.com

Hill+Knowlton Strategies (Media & Investors) 
Peter Poulos
Phone: +1 (212) 885 0588 
peter.poulos@hkstrategies.com

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Forward-looking statements

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may contain “forward-looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify certain forward-looking statements because they contain words such as, but not limited to, “believes,” “expects,” “may,” “should,” “approximately,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “likely,” “will,” “would,” “could” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our business and operations. These risks and uncertainties include, but are not limited to, those set forth under the heading “Risk Factors” in our most recent Form F-1 Registration Statement, and described from time to time in subsequent reports, filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.