Slide 1: Second Quarter 2015 Earnings Conference Call
Exhibit 99.2 Second 5, August Quarter 2015 2015 Earnings Conference Call
Slide 2: Forward-looking statements
Forward-looking Certain statements” contain “targets,” are synergies indebtedness the North subsequent predictable forward-looking Second inherent business, American statements words Quarter and likely,” or reports with inthe as the within such our 2015 amarket statement loss respect statements timi
Slide 3: Non-GAAP measures
Non-GAAP This presented securities reporting measures non-GAAP Second presentation Quarter their of analysts, because financial measures other results. 2015 includes companies. management investors measures –Adjusted Earnings information and These touses EBITDA, Call other thenon-GAAP this most 3int
Slide 4: Pierre Vareille, Chief Executive Officer
Pierre Executive Chief Vareille Officer
Slide 5: Q2 2015 Highlights
Q2 2015 Shipments Revenue Adjusted Record Muscle Automotive Strong Second Adjusted demand Adjusted Quarter Shoals Highlights of EBITDA of€1.375 rolled 386 operational across 2015 Free EBITDA thousand products of billion, –Cash €93 all Earnings targeted million, in integration up Flow metric shipment
Slide 6: Operational Update: Muscle Shoals and Cash Generation
Update Operational Generating Unprecedented Q2 Good Second Adjusted Shipments Revenue negative progress on Quarter Muscle cash integration impact of EBITDA of in decline €308 2015 ahead 111 addressing Shoals from million; kt; –of of in Earnings progressing 231 €19 lower plan, premiums metal kt €667
Slide 7: 2015 Outlook
Shipment Also Original First Inventory 2015 Muscle Secondhalf expect Adjusted half Quarter Shoals Cost 2015 volumes reduction of a Synergies less EBITDA 2015 Outlook expected at2015 $6 favorable on of volume million, –track 20% Earnings of to expected $25—$30 be for compared product slightly expect
Slide 8: Packaging & Automotive Rolled Products Segment
Packaging Segment Shipments Automotive Constellium Customer 100 Prospects Second kt BiW Quarter Outlook/Mix for demand and offinishing rolled Recent the 268 Automotive 2015 development kt in products Developments in BiW projects – Q2 Earnings drove 2015, Rolled shipments atofboth decision Call up Bi
Slide 9: Aerospace & Transportation Segment
Aerospace Segment Solid Stable Q2 Constellium Marked Recovery Slower Second 2015 demand transportation long-term half Quarter improvement shipments Outlook/Mix plan and of Recent in proceeding 2015 Transportation 2015 aerospace growth of Developments expected and –in 63 Earnings operational industry
Slide 10: Automotive Structures & Industry Segment
Segment Q2 Automotive Constellium Record One Plant Gottmadingen Second 2015 ofexpansions the segment Quarter shipments Mix/Outlook largest Structures extruded Recent (Germany) 2015 performance insuppliers Van of Developments –products 57 and market Earnings Buren, kt, and Industry ofupChangchun high
Slide 11: Didier Fontaine, Chief Financial Officer
DidierFinancial Chief Fontaine Officer
Slide 12: Q2 2015 Adjusted EBITDA
(1) €Q2millions 2015Quarter Adjusted 81 93 17 EBITDA (*) Second 2Adjusted (6)and Holdings 2014 P&ARP EBITDA EBITDA 2015 Corporate A&T vsH&C* Q2Call – Earnings AS&I 2015 2014Adjusted 12
Slide 13: Q2 2015 Segment Performance
Q2 2015 Segment AS&I Shipments: Second A&T Quarter Adjusted Segment 165kt 62kt 53kt P&ARP 2015 63kt 57kt 268kt Performance EBITDA –+7% +1% Earnings +62% (€m) vsCall Adjusted Q2132014EBITDA per ton (€)
Slide 14: Strong Free Cash Flow
(1) €Strong Margin Cash Capital Adjusted Three ended June 152 millions 151 (79) 72 50 30, flow months ended Adjusted expenditures calls -(37) Significant Second 13 2015 Free from Quarterincluded Three June Cash operating Free 30, Flow months improvement 2015 –Cash in2014 cash inactivities Flow Earni
Slide 15: Inventory Reduction Drives Greater Cash Generation
Fastdays 37 29 28 Strong Second Inventory reduction QuarterReduction 2015 in Days – Earnings of at Sales Muscle Call Outstanding Shoals 15 Drives of 9Greater days from Cash Q1Generation 2015
Slide 16: Strong Liquidity and Net Debt
€Strong Total Cash Liquidity Net (*) (**) Second millions Including Debt debt Liquidity and Debt Liquidity Quarter and 1,738 Cash (**) June (*)leverage fair 690 measured 2,107 Equivalents 30, 1,816 2015 Provides value 700 2015 2,168 –slightly Earnings ofas March Ample cross the 369improved sum 352 c
Slide 17: Key Takeaways
Key2015 Q2 Record Demand Muscle Expect Liquidity Second Takeaways—Constellium to P&ARP performance Quarter Shoals remains Shipments, remains overcome expected 2015 segment strong strong; headwinds in Revenue – AS&I, Earnings in to Adjusted robust all be targeted fully and better atworking Call Muscl
Slide 18: Q & A
Q & A Quarter 2015 – Earnings Call 18 Second
Slide 19: Appendix
Second Quarter 2015 – Earnings Call 19 Appendix
Slide 20: IFRS Income Statement - Three Months
IFRS €Three Revenue Finance (Loss) Income Net Second millions (loss) –months /Q2 Quarter tax income costs 1,375 /June 2015 income expense –ended 920 30, net 2015 from before Income 2015 (47) (36) (8) Three operations – income Earnings (15) 28 (27) Statement June months 30, taxes (3) Call 2014 ended
Slide 21: IFRS Income Statement - Six Months
IFRS €Six Revenue Other Finance Share (Loss) Income Net Second millions months (loss) –of expenses /First Quarter tax income costs loss 2,768 /June income benefit ended Half of – 1,803 30, — net 2015 joint-ventures from before 2015 Six (1) /2015 (78) (79) (expense) operations –months income Income E
Slide 22: IFRS Statement of Financial Position
€IFRS Assets Equity Non-current Current Liabilities Total Second millions Assets Equity –held (87) Statement Quarter assets liabilities At held (37) for 4,154 assets liabilities and June 1,833 sale for 2015 Liabilities 1,337 of 30, 3,012 sale 2,307 14 2,046 Financial –2015 2,890 14 14 Earnings 1,050
Slide 23: Net Debt Reconciliation
€ millions Borrowings Fair Cash Net Second Debt value and pledged Quarter Reconciliation 1,738 cash of June 2,178 cross for equivalents 30, 224 2015 issuance 1,252 currency 2015 – Earnings December of (369) interest guarantees (989) Call31, rate 232014 (12) swap(10) (59) (29)
Slide 24: Adjusted EBITDA Reconciliation
4Second Reconciliation €Three June Net Income Finance Other Share (Loss) Depreciation Unrealized millions (loss) 30, expenses of 5months monetary//on tax 2income costs—net Restructuring Start-up Losses Wise Effects Metal Unwinding Adjusted (2) 2015 2014 loss /disposal ended acquisition Midwest price
Slide 25: Adjusted EBITDA Reconciliation - Continuing Operations
Reconciliation Three €(IFRS) June Adjusted Metal Start-up Wise Unwinding Effects Restructuring Losses Unrealized assets —— Depreciation Other Finance Share (Loss) Income Net Second millions income loss 30, acquisition Mid-West (2) expenses of months price and /on of Quarter from tax income costs and
Slide 26: Liquidity Details
*Second €Liquidity Ravenswood Wise Factoring Revolving Other Cash Total millions ABL and 321 Liquidity 10Quarter leverage The iscash Details 182 Availability Credit 60 €145 ABL equivalents 690 higher Facility 2015million 69 – 4.5 than *Revolving 369 - Earnings Call Credit 26 Facility is undrawn but