Slide 1: Third Quarter 2017 Earnings Call
Exhibit 99.2 Third Quarter 2017 Earnings Call October 26, 2017
Slide 2: Forward-looking statements
Forward-looking This conditions. “intends,” uncertainties. to, flexibility expected as depend presentation. Earnings described thepresentation ability ongrowth Call and “plans,” many You from We of Many 2opportunities; can Constellium events, in undertake statements may time “targets,” the identify
Slide 3: Non-GAAP measures
Non-GAAP Debt. Adjusted present made considered able predicted restructuring Earnings toin These provide an accordance Call EBITDA oradjusted an measures are charges, 3alternative anot reconciliation measures EBITDA-related in with or This are ourtaxes IFRS to presented control. presentation the are
Slide 4: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 5: Q3 2017 Highlights
Q3 2017 improved LTM Adjusted Highlights to 21EBITDA million Total from down Shipments 15tomillion 4.8xdown from in Q3 1% 5.4x 2016 compared at end Adjusted of to Q4Q3 EBITDA 2016 2016 Strong Automotive increased Q3 results; 15% shipments YoY Increasing toincreased 111guidance million 32%Each for Re
Slide 6: Q3 2017 Segment Highlights
Q3 2017 Continued agreements from 13% and Euronext Segment 7%, progress with respectively Paris Bombardier Highlights inis developing progressing Major and P&ARP capex Pilatus FT3 EndA&T ramp programs market Focused Adjusted up demand in(Astrex; on Neuf-Brisach Bowling EBITDA remained White, Green o
Slide 7: Peter Matt, Chief Financial Officer
Peter Matt Chief Financial Officer
Slide 8: Adjusted EBITDA Bridges
Adjusted 2016 P&ARP EBITDA A&TBridges AS&I H&C Q3 2017 YTDvs. 2017 Q3 Third 2016 +15% Quarter€ 2017 millions – Earnings 3 1 10 0Call 97 111 8 Q3 2016 P&ARP A&T AS&I H&C Q3 2017 YTD 2017 vs. YTD 2016 +12% € millions 6 11 0 18 331 296 YTD
Slide 9: Packaging and Automotive Rolled Products Performance
Packaging shipments the CallU.S. 9 Adj. Better andEBITDA Automotive price and (€ / t) mix; Rolled 234increased 226 Products 3% Adjusted Revenues Q3 2017EBITDA (€m) Performance 705Bridge 655 Highlights 8%€ in Automotive millions Q3 Q3 5 rolled (3) Adjusted (3)product 1 60EBITDA 60shipments Q3 2016 of
Slide 10: Aerospace and Transportation Performance
Aerospace largely performance Earningsoffset Call and Adj. decrease 10 Transportation EBITDA in Aerospace (€ /Q3 t) 512 2017 shipments 344 Performance 49% Revenues Adjusted Highlights EBITDA (€m) 307 Q3Bridge 313 Q3 Adjusted (2)% € inContinuing millions EBITDA 4 to (1) ofbenefit 9€30 (2) million 30
Slide 11: Automotive Structures and Industry Performance
Automotive Other Adjusted extruded EBITDA Structures products Bridge and on€Industry strong in millions market Q3 82017 (7) demand 2Performance 0 28Revenues 25 Q3 2016 Highlights (€m) Volume 275Q3 242 Price Q314% 2017 &Weaker Mix 2016 Costs price Var.FX Adjusted and / Premium mix EBITDA Adj./ EBITDA
Slide 12: Project 2019
Project 2019 Working Maintenance Further €15 spending working million of of €150-175 capital annualinitiatives run million rate cost Project underway savings 2019 Three achieved initiatives PillarsYTD underway Capital Wide Improvement range and showing of additional Onbenefits target cost for Third
Slide 13: Net Debt, Leverage and Liquidity
Net 4.x 5.x Leverage: 2016Debt Q15.5x 2017 and Net inLiquidity Debt Q2 Q1 2017 / LTM Net Q3 1,000 Adjusted 2017 Debt 2,035 ABL andEBITDA 2,077 Leverage (Drawn) 2,044 Liquidity Debt Secured 1,987 / Liquidity 3.x Maturity Notes ? NoUnsecured Highlights bond Profile maturities €Notes in € in millions m
Slide 14: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 15: End-market Updates
End-market OEM Transportation, conversions steel tobacklogs aluminium Updates expected remain Industry driving Automotive: tonear help and growth record Defense weakness Aerospace: in highs Europe Packaging: persists Demand Third North North Strong for Quarter America: luxury American industry 2017
Slide 16: Guidance and Outlook
Financial years, shareholder leading Guidance value to over Third and€500 Outlook Quarter million 2017 Increasing in 2020 – Earnings Targeting guidance Callfor positive 16 Adjusted FreeEBITDA Cash Flow growth in 2019 in 2017 Net Debt to around / Adjusted 13% EBITDA Continue target to expect range hi
Slide 17: Q&A
Q&A Third Quarter 2017 – Earnings Call 17
Slide 18: Appendix
Appendix Third Quarter 2017 – Earnings Call 18
Slide 19: Shipments by Product Line
Shipments 30, 80 Third 88 2016 Quarter Transportation, 30, by2017 Product 201730, – Earnings industry, 2016 Line (000’s Packaging and Callmetric other 19 rolled 34 tons) 32 products k102 metric 96 206 rolled tons226 Three products 622 months 658Automotive Automotive Three months extruded rolledNine
Slide 20: IFRS Income Statement
IFRS 2016 (8) (6)(unaudited) –(21) Income (8) Income Statement (unaudited) before € millions (unaudited) incomeThree tax (unaudited) 38months 33 105Three 79Revenue Income months 1,279 taxNine expense 1,199 months 3,989 (17)Nine (18) 3,582 months (56) Income (63) ended Net from ended Income operation
Slide 21: IFRS Statement of Financial Position
IFRS – Statement Current liabilities 1,121 of Financial 1,035 Non-current Position € millions liabilities At 3,048 September 3,322At Equity December (487)30, (570) 2017 Total 31,Equity 2016 (unaudited) and Liabilities Current 3,682assets 3,7871,392 Third1,410 Quarter Non-current 2017 – Earnings asse
Slide 22: Net Debt Reconciliation
Net Debt (38) EBITDA (77) swaps, 412 Reconciliation 398net 378of377 margin € millions Leverage callsSeptember Cash 4.8x and 5.1xcash 30, 5.5xJune equivalents 5.4x30, Third March (300) Quarter 31,(286) December 2017(309) – Earnings (347) 31, 2017 Cash Call 2017 pledged 22 2017for 2016 issuance Borrow
Slide 23: Adjusted EBITDA Reconciliation
Reconciliation September costs Unrealized pension transformation 2 — 12– net Other plan 34 September losses amendments 45 —of costs 127 2Net /— (gains) —130 Income — September —1164 2on 1Adjusted — 4derivatives to Share 2(20) Adjusted Wise 30,— of EBITDA 2017 integration (20) loss (22) EBITDA 30, of
Slide 24: Borrowings
Borrowings € Nominal Floating — Notes (Issued February Ofmillions — which —Constellium December —Nominal — 2017, current September — Table Senior — due 101 — 2014, Nominal N.V. Secured 2025) — 30, 107(Issued 46 due December Third $650 Muscle Effective Notes 2023) 6.63% May Quarter Constellium $400 S