Slide 1: First Quarter 2016 Earnings Call
First Quarter 2016 Earnings Call May 12, 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 presentation may contain “forward looking statements” with respect to our business, results of operations and financial conditi
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: Pierre Vareille, Chief Executive Officer
Pierre Vareille Chief Executive Officer
Slide 5: Q1 2016 Highlights
Adjusted EBITDA of €92 million, down 3%, driven by record performance in the AS&I segment, further recovery in the A&T segment and, as expected, lower performance in P&ARP Shipments of 362 metric tons, down 5% as Q1 2015 benefited from competitor’s mill outage in the U.S. Revenue of €1.2 billion, do
Slide 6: Packaging and Automotive Rolled Products Segment
Packaging and Automotive Rolled Products Segment Continued excellent operational performance at Neuf-Brisach First test coils produced ahead of schedule in new finishing lines at Bowling Green and Neuf-Brisach Previously disclosed customer contract renegotiation at Muscle Shoals resulted in a one-ti
Slide 7: Aerospace and Transportation Segment
Aerospace and Transportation Segment Shipments of 63 kt, up 5% Solid demand in aerospace market with majority of business under long-term contracts Continued recovery in aerospace Adjusted EBITDA and Adjusted EBITDA per ton Signed new contract with Airbus, effective Jan 2017, focusing on higher valu
Slide 8: Automotive Structures and Industry Segment
Segment Outlook/Mix Automotive Structures and Industry Segment Shipments of 57 kt, up 2% Strong demand in automotive structures applications and increasing global market share Record quarterly performance for Adjusted EBITDA and Adjusted EBITDA per ton Decin in Czech Republic on track to expand capa
Slide 9: Didier Fontaine, Chief Financial Officer
Didier Fontaine Chief Financial Officer
Slide 10: Q1 2016 Adjusted EBITDA vs Q1 2015
Q1 2016 Adjusted EBITDA vs Q1 2015 € millions Record results in AS&I and improvement in A&T offsetting expected lower performance in P&ARP, which benefited in Q1 2015 from a competitor’s mill outage
Slide 11: Q1 2016 Segment Performance vs Q1 2015
Shipments: 266kt 244kt (8)% Q1 2016 Segment Performance vs Q1 2015 11 Segment Adjusted EBITDA (€m) Adjusted EBITDA per ton (€) +53% AS&I Shipments: 56kt 57kt +2% +7% A&T Shipments: 59kt 63kt+5% +2% +51% P&ARP (20)% (14)%
Slide 12: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation € millions Three months ended March 31, 2016 Three months ended March 31, 2015 Cash flow from operating activities (59) 12 Capital expenditure (78) (84) Adjusted Free Cash Flow (137) (72) Lower cash flow from operating activities primarily reflecting significan
Slide 13: Improved liquidity
Improved liquidity Successful issuance of $425 million Senior Secured Notes and cancellation of pre-existing €145 million RCF € millions March 31, 2016 Total Debt (*) 2,478 Cash and Cash Equivalents 625 Net Debt 1,853 Liquidity (**) 773 (*) Including fair value of cross currency interest swap and ca
Slide 14: Key Takeaways
Key Takeaways Record results and performance in AS&I and continued recovery in A&T Lower Q1 2016 performance in P&ARP, as expected Q1 2016 Shipments and Revenues (on a like-for-like basis) down 5% and Adjusted EBITDA down 3% compared to Q1 2015 First test coils produced in new Body-in-White expansio
Slide 15: Q&A
Q&A ¢ Constellium First Quarter 2016 - Eamings Call 15
Slide 16: Appendix
Appendix ¢ Constellium First Quarter 2016 - Eamings Call 16
Slide 17: IFRS – Income Statement
IFRS – Income Statement € millions Three months ended March 31, 2016 Three months ended March 31, 2015 Revenue 1,150 1,393 Income / (loss) from operations 53 (4) Finance costs – net (41) (43) Share of loss of joint-ventures (1) (1) Income / (loss) before income taxes 11 (48) Income tax (expense) / b
Slide 18: IFRS – Statement of Financial Position
IFRS – Statement of Financial Position € millions March 31, 2016 December 31, 2015 Non-current assets 2,147 2,166 Current assets 1,728 1,449 Assets held for sale - 13 Total Assets 3,875 3,628 Equity (581) (540) Non-current liabilities 3,290 2,962 Current liabilities 1,166 1,193 Liabilities held for
Slide 19: Net Debt Reconciliation
Net Debt Reconciliation € millions March 31, 2016 December 31, 2015 Borrowings 2,501 2,233 Fair value of cross currency interest rate swap (13) (47) Cash and cash equivalents (625) (472) Cash pledged for issuance of guarantees (10) (11) Net Debt 1,853 1,703
Slide 20: Reconciliation net income
Reconciliation net income € millions Three months ended March 31, 2016 Three months ended March 31, 2015 Net loss (8) (31) Income tax expense / (benefit) 19 (17) Income / (loss) before income tax 11 (48) Finance costs - net 41 43 Share of loss / (profit) of joint-ventures 1 1 Income / (loss) from op