Slide 1: Fourth Quarter and Full Year 2013 Earnings Call
Fourth Quarter and Full Year 2013 – Earnings Call March 20, 2014 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: 2013 highlights: strong performance in all business segments
2013 highlights: strong performance in all business segments 2013 was a transformational year for Constellium Adjusted EBITDA: €280m, up €57 million (+26% YoY), driven by new business in Aerospace and Automotive markets Adjusted EBITDA per metric ton: €273, up €57 (+26% YoY) reflecting a richer prod
Slide 5: Continuing our Evolution by Expanding Our Free Float
Shares of Constellium (in millions) Continuing our Evolution by Expanding Our Free Float Free float Rio Tinto Bpifrance Management KG Apollo Rio Tinto / Management Secondary Rio Tinto Secondary Apollo Secondary Apollo Secondary = 105.0 (1) (1) (1) (1) From time to time, including upon departure from
Slide 6: Segment Performance
Segment Performance Adjusted EBITDA (€m) Adjusted EBITDA per metric ton Volume (kt) Volume (kt) Volume (kt) 206 191
Slide 7: Aerospace Market: Strong Long Term Outlook
Aerospace Market: Strong Long Term Outlook Market context Implemented new 5 year contract with Airbus consolidating #1 global aerospace plate position Constellium is increasing market share High Inventory levels in the downstream supply chain However, 90% of our aerospace business under long term co
Slide 8: Automotive Rolled Market: investing in new BiW Capacity
Automotive Rolled Market: investing in new BiW Capacity in Europe and in the U.S. Market context European BiW demand increasing as aluminum goes into new models and more parts per vehicle US BiW demand a true “game changer”; production capacity below projected long term demand 2013 Auto Body Sheet v
Slide 9: Automotive Extrusions Market: leader in new Crash Management Systems
Fourth Quarter 2013 – Earnings Call Automotive Extrusions Market: Constellium is a leader in new Crash Management Systems (CMS) Automotive Structures volume has increased +17% Strong visibility into orders with over years of production at current rates Constellium recent developments In February 201
Slide 10: Packaging Market: Maintained good performance at slightly lower volumes
Fourth Quarter 2013 – Earnings Call Packaging Market: Maintained good performance at slightly lower volumes Can body stock; #1 in Europe Closure stock; #1 worldwide European market is 78% aluminum, compared with 100% in U.S. Lower growth in 2013 due to adverse weather Some customers adjusted product
Slide 11: Strong performance and consistent improvement in every quarter
Strong performance and consistent improvement in every quarter Adjusted EBITDA / Ton (€ / t) Consistent Year Over Year Improvement Q1 Q2 Q3 FY Q4 Q1 Q2 Q3 FY Q4 Adjusted EBITDA (€mm)
Slide 12: 2013 Segment Performance
Q4 2013 Segment Performance Adjusted EBITDA (€m) Adjusted EBITDA per metric ton Volume (kt) Volume (kt) Volume (kt) 46 45
Slide 13: Adjusted Free Cash Flow – Continuing Improvement in Trade Working Capital
December 31, 2013 December 31, 2012 Change Insight Operating Trade Working Capital (€ millions) Adjusted Free Cash Flow – Continuing Improvement in Trade Working Capital Fourth Quarter 2013 – Earnings Call € millions Cash flow from operating activities (62) IPO fees (27) Decrease in TWC Improvement
Slide 14: Strong balance sheet with no near term maturities
December 31, 2013 Strong balance sheet with no near term maturities € millions Total Debt (*) Cash and Cash Equivalents Net Debt Net Debt/ LTM Adjusted EBITDA 0.5x Liquidity (**) (*) Including fair value of cross currency interest swap and cash pledged for issuance of guarantees (**) Liquidity measu
Slide 15: Key Takeaways
Key Takeaways Strong Year Over Year performance across all reporting segments Strong cash flow from Packaging activities Solid performance in Aerospace and Automotive markets New investments in the European and U.S. BiW Public float now over 84%
Slide 16: @ constettium
@ constettium
Slide 17: IFRS Statements
IFRS Statements
Slide 18: IFRS – Balance Sheet
December 31, 2013 December 31, 2012 IFRS – Balance Sheet € millions Non-current assets Current assets 1 069 1 037 Assets held for sale Total Assets 1 764 1 631 Equity (37) Non-current liabilities Current liabilities Liabilities held for sale Total Liabilities 1 764 1 631
Slide 19: IFRS – Income Statement
Year ended December 31, 2013 Year ended December 31, 2012 IFRS – Income Statement € millions Revenue 3 495 3 610 Income from operations Other expenses (27) (3) Finance costs – net (50) (60) Share of profit (loss) of joint-ventures (5) Income before income taxes Income tax expense (39) (46) Net Incom
Slide 20: Non-GAAP Measures Reconciliations
Non-GAAP Measures Reconciliations
Slide 21: Net Debt
As Dec 31, 2013 As Dec 31, 2012 Net Debt € millions Borrowings Fair value of cross currency interest swap Cash and cash equivalents (233) (142) Cash pledged for issuance of guarantees (9) (13) Net Debt
Slide 22: Adjusted Free Cash Flow
Year ended December 31, 2013 Year ended December 31, 2012 Adjusted Free Cash Flow € millions Cash flow from operating activities Margin calls included in cash flow from operating activities (4) (7) Cash flow from operating activities excluding margin calls Capital expenditure (144) (126) Adjusted Fr
Slide 23: Adjusted EBITDA
Year ended December 31, 2013 Year ended December 31, 2012 Adjusted EBITDA € millions Shipments 1 025 Revenue 3 495 3 610 Net income from continuing operations Income tax expense Income before income tax Finance costs - net Other expenses/share of results of joint-ventures Income from operations Rave