Constellium Se Stock Price, News & Analysis

Constellium SE (NYSE: CSTM) has achieved Aluminium Stewardship Initiative (ASI) Performance Standard Certification for all its operations worldwide and its Paris corporate office. This certification, based on ASI's latest Performance Standard Version 3.0, covers 11 principles addressing responsible production, sourcing, and stewardship in the aluminium value chain. European and North American operations are certified on all 11 principles, while Chinese operations are certified on the first four principles as material converters.

CEO Jean-Marc Germain emphasized that this achievement reflects Constellium's commitment to responsible business practices and sustainable aluminium solutions. The certification aligns with the company's recycling capacity and sustainability commitments, addressing customer and societal expectations. Constellium aims to reduce greenhouse gas emissions intensity by 30% by 2030 (vs. 2021) and increase recycled input to at least 50% by 2030.

Constellium (NYSE: CSTM) has announced the successful completion of its ALIVE project, focused on developing lightweight aluminium battery enclosures for electric vehicles. The £15m collaborative research project, led by Constellium's University Technology Center at Brunel University London, achieved weight savings of 12% to 35% compared to existing designs while meeting performance targets.

The project involved six industrial partners and two university technology partners, utilizing Constellium's high-strength alloys and various joining and forming technologies. Full-scale prototypes were built and tested, demonstrating superior performance in crash tests, vibration, and fire resistance. The team also developed cost models and conducted a life cycle assessment, validating the benefits of aluminium solutions over steel designs.

Constellium SE (NYSE: CSTM) has announced the appointment of Bradley L. Soultz as Special Advisor to the Board of Directors, effective September 2024. The Board plans to nominate Soultz as a Non-Executive Director at the 2025 Annual General Meeting. Soultz brings extensive leadership experience, currently serving as CEO of WillScot Mobile Mini (Nasdaq: WSC) since 2020. His background includes roles as President and CEO of WillScot and Williams Scotsman, as well as nine years at Novelis, where he was Chief Commercial and Strategy Officer. Soultz, a U.S. national with experience in both Europe and North America, holds a Bachelor of Science in Agricultural Engineering from Purdue University.

Constellium SE (NYSE: CSTM) has priced a private offering of €300 million euro-denominated and $350 million U.S. dollar-denominated senior unsecured notes due 2032. The Euro Notes will bear interest at 5.375% per annum, while the USD Notes will bear interest at 6.375% per annum. The Notes Offering is expected to close on August 8, 2024. Constellium plans to use the net proceeds, along with cash on hand, to redeem all outstanding 5.875% Senior Notes due 2026 and 4.250% Senior Notes due 2026. The redemption date is set for August 26, 2024, at 100.000% of the aggregate principal amount plus accrued interest.

Constellium SE (NYSE: CSTM) has announced a proposed private offering of approximately €300 million of euro denominated senior unsecured notes and $350 million of U.S. dollar denominated senior unsecured notes, both due 2032. The company plans to use the net proceeds, along with cash on hand, to redeem all of its outstanding 5.875% Senior Notes due 2026 and 4.250% Senior Notes due 2026. The new notes will be offered to qualified institutional buyers in the U.S. under Rule 144A and outside the U.S. under Regulation S. This offering is subject to market conditions and there is no guarantee of completion. The notes are not intended for retail investors in the EEA or UK.

Constellium's (NYSE: CSTM) Muscle Shoals facility in Alabama has been awarded a $23 million grant from the U.S. Department of Defense (DoD) to rebuild its Direct Chill aluminium casting center. The funding, provided under the Defense Production Act, will be used to install state-of-the-art casting equipment, potentially adding up to 300 million pounds of annual casting capacity.

This investment aims to increase recycled input, reduce primary metal use, and provide an additional domestic source of aluminium rolling ingot for the U.S. industrial base. The expansion is expected to help meet growing demand for flat rolled aluminium products across multiple industries, including defense, aerospace, automotive, and packaging.

Constellium SE (NYSE: CSTM) reported Q2 2024 results with shipments down 5% to 378k metric tons and revenue down 8% to €1.8 billion compared to Q2 2023. Net income increased to €71 million from €32 million in Q2 2023. Adjusted EBITDA rose to €214 million, including a €42 million non-cash metal price lag impact.

For H1 2024, shipments decreased 4% to 758k metric tons, revenue fell 10% to €3.5 billion, and net income increased to €88 million from €54 million in H1 2023. The company faced challenges including weaker market conditions and severe flooding in Switzerland, leading to a pause in 2024 guidance. Despite near-term challenges, Constellium remains confident in achieving its 2025 Adjusted EBITDA target of over €800 million, excluding metal price lag impact.

Constellium SE (NYSE: CSTM) has signed a long-term agreement with Lotte Infracell to supply foilstock for battery applications in Europe. This partnership underscores Constellium's commitment to the growing electric vehicle (EV) market. With Lotte Infracell's financial support, Constellium plans to invest €30 million in new finishing lines at its Singen facility in Germany, enhancing production capacity and creating 20 new jobs.

The investment aims to strengthen Constellium Singen's position in the aluminium automotive specialties market. Aluminium's properties, including lighter weight, conductivity, and chemical stability, make it advantageous for large-scale production of EV batteries. This collaboration ensures a reliable supply of high-quality foilstock for Lotte's battery applications, supporting the rapid growth of the EV market in Europe.

Constellium SE (NYSE: CSTM) has announced it will release its second quarter 2024 results on Tuesday, July 23, 2024. The company will host a conference call and webcast at 09:00 AM Eastern Time to discuss the results. The press release will be issued before the market opens.

The conference call will be led by Jean-Marc Germain, CEO, and Jack Guo, Senior VP and CFO. Investors can access the webcast live at a provided link, and dial-in numbers for various countries are available for those wishing to participate by telephone. An archived recording of the call will be accessible on the company's website for three weeks following the event.