Slide 1: Third Quarter 2013 – Earnings Call
Third Quarter 2013 – Earnings Call November 14, 2013 Exhibit 99.2
Slide 2: Forward-looking statements
Forward-looking statements Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may contain “forward-looking statements” with respect to our business, results of ope
Slide 3: Non-GAAP measures
Non-GAAP measures This presentation includes information regarding certain non-GAAP financial measures, including Management Adjusted EBITDA, Adjusted EBITDA, Adjusted EBITDA per metric ton, Adjusted Free Cash Flow and Net Debt. These measures are presented because management uses this information t
Slide 4: Q3 2013 highlights: strong YoY performance in all business segments
Q3 2013 highlights: strong YoY performance in all business segments Adjusted EBITDA: €64m (+ 64% YoY), driven by new business in Aerospace and Automotive markets Cash flow from operating activities: €80m; Adjusted FCF positive of €41m Volume: stable at 257k metric tons; Revenues: €862m, up 6% on a c
Slide 5: Consistent strong performance since IPO
Adjusted EBITDA (€m) Adjusted EBITDA / Metric Ton (€ / t) 22% 4% 64% 22% 24% 4% 61% 23% Consistent strong performance since IPO Strong performance and consistent improvement in every quarter Q1 Q2 Q3 YTD Q3-2013 Q1 Q2 Q3 YTD Q3-2013
Slide 6: Q3 2013 Segment Performance
Adjusted EBITDA per metric ton Adjusted EBITDA (€m) 46% increase 23% increase 47% increase 47% increase Q3 2013 Segment Performance Volume (kt) Volume (kt) % % 7% increase 45% increase 9% increase 55% increase Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Q3 12 Q3 13 Volume (kt) 49 45
Slide 7: Market context: Aerospace market and recent developments
Market context Constellium recent develop- ments Increased YTD Aerospace volume reflects our market share gains Inventories are high downstream in the supply chain, impacting the spot prices in the aero and GE plates markets Only approximately 10% of our aerospace business is spot priced, hence we a
Slide 8: Market context: Automotive market and recent developments
Market context Constellium recent develop- ments Automotive Market: We continue to invest in a growing and profitable market Demand remains strong in Auto Body Sheet (+19% QoQ), as some large players show signs of under capacity Automotive Structures volume has increased (+17% QoQ), maintaining a ba
Slide 9: Singen Press supports Automotive growth
New Singen Press supports Automotive growth Best in class press, unique in Europe (€11m CAPEX) Provides high strength, low thickness and light profiles, ready to be assembled into Crash Management Systems (CMS) Highly productive and flexible line, 13kt/year capacity First products sold in May 2013,
Slide 10: Market context: Packaging market and recent developments
Market context Constellium Recent develop- ments Renewed multiyear contract with a major Foilstock customer at improved terms Packaging Market: European demand for Foilstock and Can Body Stock has improved vs. last year Can volumes are stable vs. last year In Europe, our Can Body Stock (CBS) volumes
Slide 11: Q3 2013 highlights: Adjusted EBITDA
Q3 2013 highlights Adjusted EBITDA (€ m) Adjusted EBITDA per metric ton ( € / t) Q3 2013 is 64% higher than Q3 last year Performance includes several unplanned outages mainly at Issoire (€4.5 m impact) Planned maintenance in Ravenswood in Q2 pushed volume into Q3 2013 On track for a solid YoY perfor
Slide 12: Q3 2013 performance by reporting segment
(€177 / t) (€193 / t) (€227 / t) (€352 / t) (€256 / t) (€316 / t) 46% increase 7% increase 45% increase Q3 2013 performance by reporting segment Segment Adjusted EBITDA € millions and € / metric ton Quarter summary Unplanned outages impacted Adj. EBITDA by €5m Some delayed volume from previous quart
Slide 13: Q3 2013 highlights: Free Cash Flow and Trade Working Capital
59 41 Q3 2013 highlights Adjusted Free Cash Flow (€ millions) Operating Trade Working Capital (€ millions) -143 Q3 2013 Q3 2012 Q3 2012 Q3 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Free Cash Flow and Trade Working Capital CAPEX Adjusted FCF Adjusted EBITDA Add-backs and non-cash items (Metal lag / pensions) Excepti
Slide 14: Long-term facilities, no short-term debt
Q3 2013 Long-term facilities, no short-term debt Strong balance sheet with no near term maturities € millions Net Debt Cash and Cash Equivalents Total Secured Debt Net Debt/ LTM Adjusted EBITDA 0.7x Liquidity (*) (*) Liquidity measured as the sum of Cash and Cash Equivalents and availability under l
Slide 15: Key Takeaways
Key Takeaways Strong Year Over Year performance across all reporting segments Significant opportunities in the Automotive market Successful secondary is expected to double our public float
Slide 16: IFRS Statements
IFRS Statements Third Quarter
Slide 17: IFRS – Balance Sheet
September 30, 2013 December 31, 2012 Third Quarter IFRS – Balance Sheet € millions Non-current assets Current assets 1 141 1 037 Assets held for sale Total Assets 1 819 1 631 Equity (6) (37) Non-current liabilities 1 009 Current liabilities Liabilities held for sale Total Liabilities 1 819 1 631
Slide 18: IFRS – Income Statement
Q3 2013 Q3 2012 Third Quarter IFRS – Income Statement € millions Revenues Income from operations Other expenses - (1) Finance costs – net (10) (12) Share of profit of joint-ventures Income before income taxes Income tax income (loss) (21) (18) Net Income from continuing operations Net Income (loss)
Slide 19: GAAP Measures Reconciliation
GAAP Measures Reconciliation
Slide 20: Net Debt
As Sept 30, 2013 As Dec 31,2012 Net Debt € millions Borrowings Fair value of cross interest swap Cash and cash equivalents (199) (142) Cash pledged for issuance of guarantees (9) (13) Net Debt
Slide 21: Adjusted Free Cash Flow
Q3 2013 Q3 2012 Adjusted Free Cash Flow € millions Cash flow from operating activities Margin calls included in cash flow from operating activities (2) (11) Cash flow from/(used in) operating activities excluding margin calls Capital expenditure (37) (23) Adjusted Free Cash Flow
Slide 22: Adjusted EBITDA
Q3 2013 Q3 2012 % Adjusted EBITDA € millions Shipments +0.4% Revenue -2.6% Net income from continuing operations -18.0% Income tax expense Income before income tax -8.8% Finance costs - net Share of profit of joint ventures/other expenses (3) Profit from operations -14.8% Ravenswood pension plan ame