Finance
Paris - Constellium SE (NYSE: CSTM) ("Constellium" or the "Company") today reported results for the second quarter and the first half ended June 30, 2025.
Second quarter 2025 highlights:
- Shipments of 384 thousand metric tons, up 2% compared to Q2 2024
- Revenue of $2.1 billion, up 9% compared to Q2 2024
- Net income of $36 million compared to net income of $77 million in Q2 2024
- Adjusted EBITDA of $146 million (> Includes negative non-cash metal price lag impact of $13 million)
- Segment Adjusted EBITDA of $78 million at A&T, $74 million at P&ARP, $18 million at AS&I, and $(12) million at H&C
- Cash from Operations of $114 million and Free Cash Flow of $41 million
- Repurchased 3.4 million shares of the Company stock for $35 million
First half 2025 highlights:
- Shipments of 756 thousand metric tons, stable compared to H1 2024
- Revenue of $4.1 billion, up 7% compared to H1 2024
- Net income of $74 million compared to net income of $99 million in H1 2024
- Adjusted EBITDA of $332 million (> Includes positive non-cash metal price lag impact of $33 million)
- Segment Adjusted EBITDA of $153 million at A&T, $135 million at P&ARP, $34 million at AS&I, and $(23) million at H&C
- Cash from Operations of $172 million and Free Cash Flow of $38 million
- Repurchased 4.8 million shares of the Company stock for $50 million
- Leverage of 3.6x at June 30, 2025
Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Constellium delivered solid results in the second quarter despite continued demand weakness across most of our end markets outside of packaging. As I said last quarter, I am proud of our team for their relentless focus on cost reduction efforts and commercial and capital discipline in this uncertain environment. Free Cash Flow was strong at $41 million in the quarter. We repurchased 3.4 million shares for $35 million during the quarter, and we ended the quarter with leverage at 3.6x. We expect this to be the peak for leverage and to trend down as we move through the rest of the year.”
Mr. Germain concluded, “While the tariff and international trade situation remains fluid, given our solid performance in the first half and based on our current outlook, we are raising our guidance for 2025 and now expect Adjusted EBITDA to be in the range of $620 million to $650 million, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of $120 million. Our guidance assumes that the overall macroeconomic and end market environment will remain relatively stable. We also remain confident in our ability to deliver on our long-term target of Adjusted EBITDA of $900 million, excluding the non-cash impact of metal price lag, and Free Cash Flow of $300 million, in 2028. We will continue to closely monitor the situation and update our guidance as necessary. Our focus remains on executing our strategy, driving operational performance, generating Free Cash Flow and increasing shareholder value.”