Slide 1: First Quarter 2025 Earnings Call
First Quarter 2025 Earnings Call April 30, 2025
Slide 2: Forward-Looking Statements
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 opera
Slide 3: Non-GAAP Measures
Non-GAAP Measures This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Free Cash Flow and Net debt. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this
Slide 4: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 5: Q1 2025 Highlights
Q1 2025 Highlights Safety: Recordable case rate(1) of 1.02 per million hours worked in Q1 2025 Shipments: 372 thousand tons (-2% YoY) Revenue: $2.0 billion (+5% YoY) Net income: $38 million Adjusted EBITDA: $186 million Includes positive non-cash metal price lag impact of $46 million Includes negati
Slide 6: Current Assessment of Tariffs and Potential Impact on Constellium
Current Assessment of Tariffs and Potential Impact on Constellium First Quarter 2025 - Earnings Call - 6 Tariffs remain a very fluid situation; we are continually monitoring and assessing the potential impact of current and future trade policies; at this stage we believe it presents opportunities fo
Slide 7: Jack Guo, Chief Financial Officer
Jack Guo Chief Financial Officer
Slide 8: Aerospace & Transportation Q1 2025 Performance
Q1 2025 Q1 2024 % △ Shipments (kt) 51 57 (11) % Revenue ($m) 468 479 (2) % Segment Adj. EBITDA ($m) 75 87 (14) % Segment Adj. EBITDA ($ / t) 1,469 1,513 (3) % Aerospace & Transportation Q1 2025 Segment Adjusted EBITDA Bridge Q1 2025 Performance First Quarter 2025 - Earnings Call - 8 Segment Adjusted
Slide 9: Packaging & Automotive Rolled Products Q1 2025 Performance
Q1 2025 Q1 2024 % △ Shipments (kt) 269 264 2 % Revenue ($m) 1,187 1,018 17 % Segment Adj. EBITDA ($m) 60 48 25 % Segment Adj. EBITDA ($ / t) 223 182 23 % Packaging & Automotive Rolled Products Q1 2025 Segment Adjusted EBITDA Bridge Q1 2025 Performance First Quarter 2025 - Earnings Call - 9 Segment A
Slide 10: Automotive Structures & Industry Q1 2025 Performance
Q1 2025 Q1 2024 % △ Shipments (kt) 52 59 (12) % Revenue ($m) 381 396 (4) % Segment Adj. EBITDA ($m) 16 32 (50) % Segment Adj. EBITDA ($ / t) 306 541 (43) % Automotive Structures & Industry Q1 2025 Segment Adjusted EBITDA Bridge Q1 2025 Performance First Quarter 2025 - Earnings Call - 10 Segment Adju
Slide 11: Q1 2025 Free Cash Flow Highlights
Free Cash Flow of $(3) million; compared to Q1 2024: Favorable change in working capital and lower capex Lower Segment Adjusted EBITDA Excludes $2 million of cash received for collection of deferred purchase price receivables; includes $27 million flood impact at Valais Including collection of defer
Slide 12: Debt / Liquidity Highlights
Leverage of 3.3x at quarter-end Target leverage range of 1.5x to 2.5x No bond maturities until 2028 Strong liquidity position Debt / Liquidity Highlights Net Debt and Liquidity Maturity Profile(1) in $ millions Liquidity in $ millions Net Debt and Leverage in $ millions Strong balance sheet and impr
Slide 13: Jean-Marc Germain, Chief Executive Officer
Jean-Marc Germain Chief Executive Officer
Slide 14: End Market Outlook
End Market Outlook First Quarter 2025- Earnings Call - 14 Sources: CRU International, Aluminum Rolled Products Market Outlook February 2025. Aerospace 14% of LTM revenues Packaging 41% of LTM revenues Automotive 28% of LTM revenues Other Specialties 17% of LTM revenues Current Market Trends: Demand
Slide 15: Solid performance in Q1 2025
Solid performance in Q1 2025 Solid Q1 results despite continued demand weakness across most of our end markets outside of packaging and the financial impact at Valais as the business continued to recover from the flood last year Remain focused on strong cost control, Free Cash Flow generation, and c
Slide 16: Appendix
a Appendix + Constellium
Slide 17: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA ≥130 Three months ended March 31, (in millions of U.S. dollar) 2025 2024 Net income 38 22 Income tax expense 24 8 Income before tax 62 30 Finance costs - net 27 27 Expenses on factoring arrangements 5 5 Depreciation and amortization 78 75 Impairment of
Slide 18: Free Cash Flow Reconciliation
Three months ended March 31, (in millions of U.S. dollar) 2025 2024 Net cash flows from operating activities 58 37 Purchases of property, plant and equipment net of property, plant and equipment inflows (61) (67) Free Cash Flow (3) (30) Collection of deferred purchase price receivables 2 17 Year end
Slide 19: Net Debt Reconciliation
Net Debt Reconciliation ≥130 (in millions of U.S. dollar) March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Borrowings 1,943 1,918 1,914 1,898 1,906 Fair value of net debt derivatives, net of margin calls 1 (1) 1 — 1 Cash and cash equivalents (118) (141) (170) (228) (1
Slide 20: Reconciliation of LTM Segment Adjusted EBITDA to Net Income
Reconciliation of LTM Segment Adjusted EBITDA to Net Income ≥130 Twelve months ended (in millions of U.S. dollar) March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 P&ARP 255 242 271 278 296 A&T 273 285 312 345 359 AS&I 57 74 93 110 119 H&C (38) (33) (29) (32) (33) Segm
Slide 21: Debt Table
Debt Table ≥130 First Quarter 2025 - Earnings Call - 21 At March 31, At December 31, 2025 2024 (in millions of U.S. dollar) Nominal Value in Currency Nominal rate Effective rate Face Value Debt issuance costs Accrued interest Carrying value Carrying value Secured Pan-U.S. ABL (due 2029) $ 60 Floatin