Constellium's Shipments Declined 2% in Q1 2021

SEATTLE (Scrap Monster): Paris-headquartered Constellium SE announced results for the first quarter of 2021, ended March 31.

The company’s revenue, at 1.3 million euros, was down by 7% from the prior year quarter. It reported net income for the quarter of 48 million euros, compared with net loss of 31 million euros in the comparable quarter in 2020. The adjusted EBITDA plunged by 18% year-on-year to 121 million euros. Meantime, the shipments recorded decline by 2% to 385,000 metric tons. The free cash flows totalled 46 million euros.

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The lower shipments in the Aerospace and Transportation segment were partially offset by higher shipments in the Automotive Structures and Industry segment. The Packaging and Automotive Rolled Products segment adjusted EBITDA increased 3% compared with Q1 2020. The adjusted EBITDA by the Aerospace and Transportation segment nosedived 62%, whereas that of Automotive Structures & Industry segment surged by 10% during Q1 2021.

Jean-Marc Germain, chief executive officer, Constellium said that the strong cost control measures and better-than-expected robust market demand helped the company to hit the top end of its adjusted EBITDA guidance range. The end markets, except aerospace, continue to remain strong. The company expects adjusted EBITDA of 510 million euros to 530 million euros and free cash flow in excess of 100 million euros in 2021, he added.