Slide 1: Quarter 2016 Earnings Call
Quarter 2016 Earnings Call August 2, 2016 Exhibit 99.2
Slide 2: Forward-looking statements
Certain statements contained in this presentation 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 operations and financial condit
Slide 3: Non-GAAP measures
Non-GAAP measures This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA per metric ton, Adjusted Free Cash Flow and Net Debt. These measures are presented because management uses this information to monitor and evaluate finan
Slide 4: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 5: Initial Priorities
Initial Priorities Continue to improve our safety performance Sharpen our strategic and commercial focus Execute on our growth initiatives Deliver consistent and sustainable operational and financial performance Optimize return on capital investments
Slide 6: Didier Fontaine, Chief Financial Officer
Didier Fontaine Chief Financial Officer
Slide 7: Q2 2016 Highlights (Q2 2016 vs Q2 2015)
Record Adjusted EBITDA of €107 million, up 15%, driven by a strong record performance in the AS&I segment, improved results in both the A&T and P&ARP segments Shipments of 387k metric tons, in-line with last year Revenue of €1.2 billion, down 10%, mainly due to lower metal prices (on a like-for-like
Slide 8: Record Adjusted EBITDA driven by outstanding performance in AS&I
Record Adjusted EBITDA driven by outstanding performance in AS&I and improvement in A&T and P&ARP Adjusted EBITDA (Q2 2016 vs Q2 2015) € millions
Slide 9: Packaging and Automotive Rolled Products Segment
Packaging and Automotive Rolled Products Segment Update on Muscle Shoals • Improved financial performance • Shipments 110kt • Expanded Hitachi non-recourse factoring facility from $100 million to $250 million • Preparing for in-sourcing used beverage can (UBC) procurement 2016 BiW finishing lines on
Slide 10: Aerospace and Transportation Segment
Aerospace and Transportation Segment Segment shipments flat at 62 kt North American end demand stable, slight H1 softness in European orders; H2 outlook stable Continued operational improvements New contract with Airbus starting 2017– focused on higher value-add products (pre-machining) Pusher furna
Slide 11: Automotive Structures and Industry Segment
Shipments: 57kt 58kt +4% Automotive Structures and Industry Segment Segment shipments of 58 kt, up 4% Strong demand in automotive structures applications and increasing global market share Record quarterly performance in Adjusted EBITDA and Adjusted EBITDA per ton Good product mix and overall operat
Slide 12: Improved Adjusted Free Cash Flow
Three months ended June 30, 2016 Three months ended June 30, 2015 Improved Adjusted free cash flow reflecting higher cash flows from operating activities and continued high levels of capital expenditures as we invest in our growth projects Adjusted Free Cash Flow € millions Cash flows from operating
Slide 13: Ample liquidity to fund growth initiatives
Ample liquidity to fund growth initiatives June 30, 2016 December 31, 2015 Strong Liquidity € millions Total Debt (*) 2,450 2,175 Cash and Cash Equivalents Net Debt 1,828 1,703 Liquidity (**) (*) Including fair value of cross currency interest swap and cash pledged for issuance of guarantees (**) Li
Slide 14: Key Takeaways
Key Takeaways Record results and performance in AS&I Improved results in A&T and P&ARP segments, particularly in North American packaging Record Adjusted EBITDA of €107 million Cash Flows from Operating Activities of €182 million; Adjusted Free Cash Flow of €104 million Seasonally strong EBITDA per
Slide 15: Vision for Unlocking Shareholder Value
Vision for Unlocking Shareholder Value Continue to improve safety and operational performance in all segments Focus on product sales and profitability within each segment Maximize free cash flow De-risk our growth investments De-lever the balance sheet Focus on shareholder communication
Slide 16: @ constettium
@ constettium
Slide 17: @ constettium
@ constettium
Slide 18: Shipments by Product Line
Six months June 30, 2016 Six months June 30, 2015 Change Shipments by Product Line (000 ’ s metric tons) Packaging rolled products (5%) Automotive rolled products 30% Specialty and other thin-rolled products (36%) Aerospace rolled products 5% Transportation, industry and other rolled products 0% Aut
Slide 19: IFRS – Q2 2016 Income Statement
Three months ended June 30, 2016 Three months ended June 30, 2015 IFRS – Q2 2016 Income Statement € millions Revenue 1,233 1,375 Income / (loss) from operations (3) Finance costs net (44) (36) Share of loss of joint-ventures (1) Income / (loss) before income taxes (39) Income / (loss) before income
Slide 20: IFRS – First Half 2016 Income Statement
Six months ended June 30, 2016 Six months ended June 30, 2015 IFRS – First Half 2016 Income Statement € millions Revenue 2,383 2,768 Income / (loss) from operations (7) Finance costs net (85) (79) Share of loss of joint-ventures (2) (1) Income / (loss) before income taxes (87) Income tax (expense) /
Slide 21: IFRS – Statement of Financial Position
At June 30, 2016 At December 31, 2015 IFRS – Statement of Financial Position € millions Non-current assets 2,217 2,166 Current assets 1,666 1,449 Assets held for sale - Total Assets 3,883 3,628 Equity (609) (540) Non-current liabilities 3,408 2,962 Current liabilities 1,084 1,193 Liabilities held fo
Slide 22: Net Debt Reconciliation
June 30, 2016 December 31, 2015 Net Debt Reconciliation € millions Borrowings 2,498 2,233 Fair value of cross currency interest rate swap (39) (47) Cash and cash equivalents (622) (472) Cash pledged for issuance of guarantees (9) (11) Net Debt 1,828 1,703
Slide 23: Reconciliation of Net Income to Adjusted EBITDA
Three months ended June 30, 2016 Three months ended June 30, 2015 Six months ended June 30, 2016 Six months ended June 30, 2015 € millions Net income / (income) (47) (78) Income tax expense / (benefit) (9) Income / (loss) before income tax (39) (87) Finance costs - net Share of loss of joint-venture
Slide 24: Liquidity Details
Availability at June 30, 2016 Liquidity Details € millions Ravenswood ABL Wise ABL Factoring Other Total Cash and cash equivalents Total Liquidity
Slide 25: Borrowings Table
Borrowings Table At June 30, 2016 At December 31, 2015 (in millions of Euros) Amount Type of rate Nominal rate Effective rate Amount Type of rate Nominal rate Effective rate Senior Notes Constellium N.V. In U.S. Dollar (due 2024) Fixed 5.75% 6.26% Fixed 5.75% 6.26% In Euro (due 2021) Fixed 4.63% 5.1