Constellium SE Posted 5% Decline in Shipments

SEATTLE (Scrap Monster): Paris-headquartered Constellium SE reported results for Q1 2020.

According to company news release, the shipments recorded decline by 5% to 393,000 metric tons, in comparison with the corresponding quarter in 2019. The company reported net loss of Euro 31 million in Q1 2020, as compared with net income of Euro 24 million in Q1 last year. The adjusted EBITDA for the quarter was Euro 147 million, whereas revenues registered significant decline by 6% to 1.4 billion euros.

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All the three operating segments- Packaging and Automotive Rolled Products (P&ARP), Aerospace and Transportation (A&T) and Automotive Structures and Industry (AS&I) reported strong performance. The adjusted EBITDA for P&ARP segment has increased by 12%. The Q1 2020 EBITDA for A&T was comparable to the prior year quarter. In AS&I segment, the first quarter EBITDA surged higher by 17%. All the three segments recorded lower shipments and revenues.

Jean-Marc Germain, Chief Executive Officer, Constellium noted that the company remained confident on its ability to navigate through the crisis. It will remain focussed on meeting the demand of its customers in critical industries. However, the company has decided to withdraw all financial guidance until marked improvement in market conditions, Germain added.