12 MAY 2016Constellium Press Release
Constellium reports First Quarter 2016 financial results
Edited by : AL CIRCLE
2 min read
Constellium N.V. today reported results for the first quarter ended March 31, 2016. The company began 2016 with solid first quarter results. Revenues for the first quarter of 2016 were €1.2 billion, a decrease of 17 per cent from €1.4 billion in the first quarter 2015, primarily driven by lower metal prices and a 5 per cent decrease in volumes. On a like-for-like basis (excluding the impact of movements in London Metal Exchange prices, premiums and currency exchange rates), revenue was down 5 per cent from the prior year. Adjusted EBITDA was €92 million, which represented a decrease of 3 per cent from the first quarter 2015 Adjusted EBITDA of €95 million.
First quarter 2016 shipments were 362k metric tons, a decrease of 5 per cent from Q1 2015. Adjusted EBITDA per metric ton for the first quarter 2016 remained stable at €255 per ton for the group.
Commenting on the first quarter 2016 results Pierre Vareille, Constellium’s Chief Executive Officer said: “First quarter results were solid with record performance in AS&I, further recovery and improvement in A&T and within our expectations for P&ARP. Overall, Constellium has a clear strategy and the means to execute its growth initiatives. I remain very optimistic about the mid and long-term future of our company.”
Quarter Highlights and Recent Developments
In March 2016, Constellium announced that it had signed a multi-year contract with Airbus to support all of their leading aircraft programs. Under the new agreement, Constellium will continue to supply Airbus with a broad range of aluminium rolled products for airframes with a focus on higher value-add products.
In April 2016, Constellium announced the opening of the Constellium University Technology Center at Brunel University London, a dedicated center of excellence for the design, development and prototyping of aluminium alloys and automotive structural components.
Results by Segment
Packaging & Automotive Rolled Products
First quarter 2016 shipments were 362k metric tons, a decrease of 5 per cent from Q1 2015. Adjusted EBITDA per metric ton for the first quarter 2016 remained stable at €255 per ton for the group.
Commenting on the first quarter 2016 results Pierre Vareille, Constellium’s Chief Executive Officer said: “First quarter results were solid with record performance in AS&I, further recovery and improvement in A&T and within our expectations for P&ARP. Overall, Constellium has a clear strategy and the means to execute its growth initiatives. I remain very optimistic about the mid and long-term future of our company.”
Quarter Highlights and Recent Developments
In March 2016, Constellium announced that it had signed a multi-year contract with Airbus to support all of their leading aircraft programs. Under the new agreement, Constellium will continue to supply Airbus with a broad range of aluminium rolled products for airframes with a focus on higher value-add products.
In April 2016, Constellium announced the opening of the Constellium University Technology Center at Brunel University London, a dedicated center of excellence for the design, development and prototyping of aluminium alloys and automotive structural components.
Results by Segment
Packaging & Automotive Rolled Products
Aerospace & Transportation
Automotive Structures & Industry
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