Constellium Se · NYSE:CSTM
Constellium — Q2 2025 Earnings Presentation
21 slides from Constellium's earnings presentation, Jul 29, 2025
Slide 1: Second Quarter 2025 Earnings Call
Second Quarter 2025 Earnings Call July 29, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain “forward-looking statements” with respect to our business, results of opera
Slide 3: Non-GAAP Measures
Non-GAAP Measures This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Free Cash Flow and Net debt. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this
Slide 4: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 5: Q2 2025 Highlights
Q2 2025 Highlights Adjusted EBITDA Bridge > Safety: Recordable case rate (RCR)(1) of 2.6 per million hours worked in $ millions in Q2 2025; YTD RCR of 1.8 per million hours worked > Shipments: 384 thousand tons (+2% YoY) > Revenue: $2.1 billion (+9% YoY) > Net income: $36 million > Adjusted EBITDA:
Slide 6: Current Assessment of Tariffs and Potential Impact on Constellium
Current Assessment of Tariffs and Potential Impact on Constellium Tariffs remain a very fluid situation; we are continually monitoring and assessing the potential impact of current and future trade policies; at this stage we believe it presents opportunities for Constellium, and comes with some cost
Slide 7: Jack Guo, Chief Financial Officer
Jack Guo Chief Financial Officer
Slide 8: Aerospace & Transportation
Aerospace & Transportation Q2 2025 Performance Q2 2025 Q2 2024 %△ Segment A djusted EBITDA of $78 million Shipments (kt) 53 60 (11)% > Lower aerospace and TID shipments Revenue ($m) 492 487 1% > Favorable price and mix > Lower operating costs Segment Adj. EBITDA ($m) 78 90 (13)% > Favorable foreign
Slide 9: Packaging & Automotive Rolled Products
Packaging & Automotive Rolled Products Q2 2025 Performance Q2 2025 Q2 2024 %△ Segment A djusted EBITDA of $74 million Shipments (kt) 276 262 5% > Higher packaging shipments and improved Muscle Shoals performance; lower automotive shipments Revenue ($m) 1,235 1,079 14 % > Unfavorable price and mix Se
Slide 10: Automotive Structures & Industry
Automotive Structures & Industry Q2 2025 Performance Q2 2025 Q2 2024 %△ Segment A djusted EBITDA of $18 million Shipments (kt) 55 56 (1)% > Lower automotive; higher industry shipments Revenue ($m) 421 384 10 % > Unfavorable price and mix > Lower operating costs; unfavorable net impact from tariffs S
Slide 11: Free Cash Flow
Free Cash Flow H1 2025 Free Cash Flow Highlights in $ millions H1 2025 H1 2024 > Free Cash Flow of $38 million; compared to H1 2024: Net cash flows from operating activities 172 175 – Favorable change in working capital Purchases of property, plant and – Lower capex equipment net of property, plant
Slide 12: Net Debt and Liquidity
Net Debt and Liquidity Net Debt and Leverage Debt / Liquidity Highlights in $ millions 1,895 > Leverage of 3.6x at quarter-end 1,826 1,745 1,776 1,670 > Target leverage range of 1.5x to 2.5x 3.3x 3.6x 2.7x 3.1x – Expect to be at or below 3.0x by the end of 2025 2.4x > No bond maturities until 2028 Q
Slide 13: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 14: End Market Outlook
End Market Outlook Aerospace Packaging Automotive Other Specialties 13% of LTM revenues 42% of LTM revenues 27% of LTM revenues 18% of LTM revenues Current Market Trends: Current Market Trends: Current Market Trends: Current Market Trends: > Demand has stabilized in > Demand remains healthy in > Dem
Slide 15: Key Messages and Guidance
Key Messages and Guidance Solid performance in Q2 2025 with improvement in H2 2025 Targets > Solid Q2 results despite continued demand weakness across most of our end markets outside of packaging > Remain focused on strong cost control, Free Cash Flow generation, and commercial and capital disciplin
Slide 16: Appendix
SN Appendix 5 Constellium
Slide 17: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three months ended June 30, Six months ended June 30, (in millions of U.S. dollar) 2025 2024 2025 2024 Net income 36 77 74 99 Income tax expense 20 27 44 35 Income before tax 56 104 118 134 Finance costs - net 29 25 56 52 Expenses on factoring arrangem
Slide 18: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Three months ended June 30, Six months ended June 30, (in millions of U.S. dollar) 2025 2024 2025 2024 Net cash flows from operating activities 114 138 172 175 Purchases of property, plant and equipment net of property, plant and equipment inflows (73) (84) (134) (151)
Slide 19: Net Debt Reconciliation
Net Debt Reconciliation (in millions of U.S. dollar) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Borrowings 2,026 1,943 1,918 1,914 1,898 Fair value of net debt derivatives, 2 1 (1) 1 — net of margin calls Cash and cash equivalents (133) (118) (141) (170) (228) Ne
Slide 20: Reconciliation of LTM Segment Adjusted EBITDA to Net Income
Reconciliation of LTM Segment Adjusted EBITDA to Net Income Twelve months ended (in millions of U.S. dollar) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 P&ARP 263 255 242 271 278 A&T 261 273 285 312 345 AS&I 46 57 74 93 110 H&C (43) (38) (33) (29) (32) Segment Adj
Slide 21: Debt Table
Debt Table At At June 30, December 31, 2025 2024 Nominal Debt Value in Nominal Effective issuance Accrued Carrying Carrying (in millions of U.S. dollar) Currency rate rate Face Value costs interest value value Secured Pan-U.S. ABL (due 2029) $ 70 Floating 5.74 % 70 — 1 71 56 Senior Unsecured Notes I