Higher aluminium prices lift Constellium’s adjusted EBITDA 15% in Q3 2017

Constellium today reported results for third quarter ended September 30, 2017.The company generated revenue of €1.3 billion in Q3, up 7% compared to the third quarter of 2016 Q3 2016 due to higher aluminium prices.

Constellium reported net income of €21 million improved from €15 million in the third quarter of 2016. The company posted an adjusted EBITDA of €111 million for the third quarter of 2017, up 15% from Q3 2016.

The company posted total shipments of 374k metric tons, down 1% compared to the third quarter of 2016 on lower shipments of packaging and automotive rolled products.

Packaging & Automotive Rolled Products division achieved  adjusted EBITDA of €60 million for the third quarter of 2017.In Q3, shipments of 258k metric tons declined 3% from Q3 2016 due to lower Packaging rolled product shipments, partially offset by a 48% increase in Automotive rolled product shipments. Revenue of €705 million increased 8% from Q3 2016 2016 due to higher aluminium prices.

In the Aerospace & Transportation division, shipments of 58k metric tons were down slightly from Q3 2016 and revenue of €307 million fell by 2% from Q3 2016 on lower aerospace rolled product shipments partially offset by higher aluminium prices and higher Transportation, Industry and Other rolled product shipments.

The Automotive Structures & Industry segment achieved an adjusted EBITDA of €28million in Q3 2017. Shipments increased 10% to 58kt and revenue increased by 14% to €275million as a result of higher aluminium prices.

“Project 2019” is well underway with a wide range of cost reduction and cash flow improvement initiatives throughout the Company. The Company has achieved €15 million of run rate cost savings.