Constellium Reports First Quarter 2023 Results


Constellium SE (NYSE: CSTM) today reported results for the first quarter ended March 31, 2023.

First quarter 2023 highlights:

  • Shipments of 389 thousand metric tons, down 3% compared to Q1 2022
  • Revenue of €2.0 billion, down 1% compared to Q1 2022
  • Value-Added Revenue (VAR) of €754 million, up 16% compared to Q1 2022 
  • Net income of €22 million compared to net income of €179 million in Q1 2022
  • Adjusted EBITDA of €166 million, down 1% compared to Q1 2022
  • Cash from Operations of €34 million and Free Cash Flow of €(34) million
  • Net debt / LTM Adjusted EBITDA of 2.8x at March 31, 2023


Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Our team delivered solid first quarter results on strong demand across several end markets and solid execution despite significant inflationary pressures. A&T delivered record quarterly Adjusted EBITDA, and AS&I delivered record first quarter Adjusted EBITDA. Looking across our end markets, the recovery in aerospace continued with shipments up over 50% compared to last year. Automotive demand also continued to improve with higher shipments in both rolled and extruded products. Packaging shipments were down in the quarter as demand softened, and we continued to experience weakness in certain industrial markets. Lastly, Free Cash Flow was in line with our expectations at negative €34 million and we maintained our leverage at 2.8x.”