Constellium publishes Annual Report 2015: Focus remains on higher margins and technological excellence

Constellium N.V. announced yesterday the Annual Report 2015. The Group's financial highlights are as follows:

Total shipments in 2015 were 1,478k metric tons, a 39 per cent increase compared to 1,062k metric tons in 2014, driven mainly by the integration of Wise and reflecting good traction from automotive rolled products, automotive extruded products and aerospace rolled products.

Revenues for 2015 were €5,153 million, which represents an increase of 41 per cent, or €1,487 million, from 2014 resulting primarily from the integration of the Muscle Shoals facility.

Adjusted EBITDA for 2015 was €343 million, an increase of €68 million, or 25 per cent, from the 2014 Adjusted EBITDA, driven by the acquisition of Wise, record performance in the Automotive Structures and Industry (AS&I) segment, and recovery in the Aerospace and Transportation (A&T) segment.

Constellium’s results in Packaging and Automotive Rolled Products (P&ARP) were driven by the acquisition of Wise, which contributed €68 million in Adjusted EBITDA in 2015. Adjusted EBITDA in 2015 also includes a favourable year-over-year effect from metal premiums of €15 million and foreign exchange effect of €14 million when compared to 2014 and reflects higher costs in Holdings and Corporate as compared with 2014.

Adjusted EBITDA per metric ton for 2015 was €232, a decrease of 10 per cent or €27 per metric ton reflecting a higher proportion of packaging in the product mix as a result of the Wise acquisition.

The company’s net income in 2015 was a net loss of €552 million compared with net income of €54 million in 2014.

For the fiscal year ended December 31, 2015, the fully diluted earnings per share were a negative €5.27 versus a positive €0.48 per share for the same period in 2014.

"We expect continued growth in our aerospace and automotive markets. The packaging market is strong in Europe, but will remain flat to slightly lower than 2015 in North America. In 2016, we will also start ramping up significant new capacity in our BiW projects (Bowling Green, Kentucky and Neuf-Brisach, France), in our AS&I segment (Van Buren, Michigan, and Decin, Czech Republic) and in our facility in Ravenswood, West Virginia," said Constellium spokesperson.