Slide 1: Third Quarter 2014 Earnings Conference Call
Exhibit 99.2 Third Quarter Earnings November Constellium Conference 19, 2014 2014 Call
Slide 2: Forward-looking statements
Forward-looking Certain statements” contain the statements. believes business unplanned Wise other Exchange or update Constellium all negative Metals risk ofor statements words which are and revise factors Commission business These with appropriate of Third or operations. such are these the any resp
Slide 3: Non-GAAP measures
Non-GAAP This presented securities reporting measures non-GAAP Constellium presentation their of analysts, because financial measures other Third results. includes companies. management Quarter investors measures Adjusted information 2014 and These touses EBITDA, –other the Earnings non-GAAP this mo
Slide 4: Pierre Vareille, Chief Executive Officer
Pierre Executive Chief Constellium Vareille Officer
Slide 5: Q3 2014 Highlights
Q3 2014 Adjusted Shipments Revenues: A&T Automotive Body-in-White Continued *Excluding Constellium results Highlights EBITDA €927 strong improvement ofLME Structures Third below 266k expansion million, performance metal Quarter of metric expectations (% €72 exhibiting change price in upmillion, proj
Slide 6: Packaging & Automotive Rolled Products Segment
Packaging Segment Solid Excellent Continued Body-in-White Announced Impact Constellium shipments ofOutlook/Mix operational metal and strong solid Rexam Third Recent Automotive shipments projects premiums packaging ofgrowth Quarter 158 contract Developments performance kt ininin increased Singen, at
Slide 7: Aerospace & Transportation Segment
Aerospace Segment Solid Q3 Reported Capacity Hot Customer Renewed Metal Constellium Segment mill demand premiums outage Outlook/Mix constraints Q3 operational/supplier program and Third Recent shipments results inTransportation inaerospace unfavorable Ravenswood Quarter delays Developments similar a
Slide 8: Automotive Structures & Industry Segment
Segment Industry Total Automotive Capacity Impact Constellium shipments ofmarket Mix/Outlook expansions metal Structures Third Recent premiums of demand Quarter 50 Developments inktvolume and market Europe, in stable at 2014 Q3 Industry €3demand 2014 increased U.S. million – Earnings Segment up andr
Slide 9: Didier Fontaine, Chief Financial Officer
DidierFinancial Chief Constellium Fontaine Officer
Slide 10: Adjusted EBITDA by segment Q3 2014
AS&I 19 30 10% 16 12% Adjusted 316 (1)% 193 8% 352 (4)% Q3 Constellium 33 18 2014 2013 313 208 339 P&ARP Segment Q3 EBITDA Third 2014 A&T Performance Quarter (€m)ton 2014 – Earnings Call 10 per
Slide 11: Free Cash Flow
€Strong Nine Margin Cash Capital Adjusted Constellium millions months flow Cash expenditure calls Free from Third Flow included ended Cash operating From Quarter Sept (127) Flow in Operating cash 30, (16) (92) activities 2014 2014 flow (17) – Nine Earnings Activities from 122 months excluding 79 ope
Slide 12: Trade Working Capital and DSOs
Improving 33 401 DSOs Q4 Constellium days 2011 373 decreased 29 320 Q1Trade days Third 2012 €(22)M by Working Q2 Quarter 4285 days 2012 295 Capital 2014 Q3298 2012 – Despite Earnings Q4 2012 Higher Call Q1122013 LMEQ2and2013 Premiums Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014
Slide 13: Net Debt and Liquidity
€Strong Total Cash Net Liquidity (*) (**) Constellium millions Including Debt Liquidity and Debt Balance /208 Cash (**) September LTM (*) Third fair 746 measured 634 Equivalents Sheet Adjusted value Quarter 30, with ofas2014 EBITDA cross Enhanced 2014 the 426sum currency – Earnings 0.7x ofLiquidity
Slide 14: Wise Acquisition Update
Wise Significantly Globalizes Expected Acquisition Change HSR 2013 Asia Other North United France Germany (*) Total Constellium formerly /regulatory Pro Metals 2013 6% Europe America Pacific 12% Kingdom offorma return 22% control Constellium’s pro financing Third 14% Acquisition accelerates 3% 19% f
Slide 15: Key Takeaways
Key2014 Q3 A&T Continued Automotive Body-in-White Wise Constellium Takeaways acquisition results Shipments, strong improvement Structures Third below expansion received performance Quarter expectations Revenues exhibiting inregulatory projects 2014 net in trade and due –P&ARP robust Earnings progres
Slide 16: Q&A
Q&A Constellium Third Quarter 2014 – Earnings Call 16
Slide 17: IFRS Statements
IFRS Statements Constellium Third Quarter 2014 – Earnings Call 17
Slide 18: IFRS Income Statement
€IFRS Revenue Other Finance Share Income Net Constellium millions Income –of expenses Income from before tax costs profit 927 Three expense /from Third operations (loss) 862 –income of Statement -net months -discontinued joint-ventures Quarter (10) 12 (12) 45 taxes (10) 34 ended (21) 2014 6924operat
Slide 19: IFRS Statement of Financial Position
€IFRS Assets Equity Non-current Current Liabilities Total Constellium millions Assets Equity –held 43 Statement assets liabilities 36 September held for 2,285 Third assets liabilities and 1,425 sale for Liabilities 921 of Quarter 1,764 sale 846 14 1,069 Financial 30, 749 1,312 21 674 9 92014 2014 2,
Slide 20: Non-GAAP Measures Reconciliations
Non-GAAP Measures Constellium Third Quarter Reconciliations 2014 – Earnings Call 20
Slide 21: Net Debt Reconciliation
€ millions Borrowings Fair Cash Net Constellium Debt value and 208 pledged Reconciliation cash of September 663 Third cross 132 for equivalents 348 issuance Quarter currency 30, 2014 of (426) 2014 interest guarantees December –(233) Earnings rate (9) swap 31,Call (9)2013 (20) 2126
Slide 22: Adjusted Free Cash Flow Reconciliation, Three Months
€ millions Margin Cash Capital Adjusted Constellium flow expenditure calls Free Three from Third included Cash operating months Quarter (57) Flow in cash (37) ended Reconciliation 19 activities 2014 41 flow Sept – Earnings from 76 excluding 30,802014 operating Call Three margin 22activities months c
Slide 23: Adjusted Free Cash Flow Reconciliation, Nine Months
€ millions Margin Cash Capital Adjusted Constellium flow expenditure calls Free Nine from Third included Cash months operating Quarter (127) Flow inended cash Reconciliation (16) (92) activities 2014 flow September (17) – Earnings from 122 79 excluding operating 30,Call 2014 margin 23activities Nine
Slide 24: Adjusted EBITDA Reconciliation
€ millions Net Finance Share Income Depreciation Unrealized Restructuring Start-up Metal Other Adjusted Constellium income Income of 3 lag tax before from 3costs and results EBITDA (16) Q3 (gains) losses expense 12 from Third development and operations -costs 2014 9income 45 net ofimpairment discont