Welcome to our dedicated page for Constellium Se news (Ticker: CSTM), a resource for investors and traders seeking the latest updates and insights on Constellium Se stock.
Constellium SE develops and manufactures value-added aluminum rolled and extruded products for aerospace, space, defense, packaging, automotive, commercial transportation and general industrial markets. The company converts aluminum into semi-fabricated and, in some applications, fully fabricated alloy products designed for stringent performance requirements.
Company updates commonly address segment results across Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry; shipment, revenue, Adjusted EBITDA, cash-flow and leverage trends; customer agreements for aluminum alloy extrusions and Airware® aluminum-lithium solutions; plant investments such as the Singen finishing lines for aluminum foilstock; and capital allocation actions including ordinary-share repurchases.
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.
Constellium SE (NYSE: CSTM) has successfully completed its first industrial-scale hydrogen casting at its primary R&D center, C-TEC. The casting was performed in a 12-ton furnace using strict internal procedures and quality monitoring, including Batscan™ technology. No quality impact from hydrogen combustion on the metal was observed.
The 12-ton aluminium slab produced will be processed at Constellium's Neuf-Brisach site in France for use in electric vehicles. This milestone is part of Constellium's efforts to decarbonize its industrial activities by exploring hydrogen as a substitute for natural gas. The company is also involved in various projects, including the EU-funded HyInHeat initiative, and is exploring alternative decarbonization technologies such as direct electrification solutions.
Constellium (NYSE: CSTM) announced that its facilities in Sierre and Chippis, Switzerland, have been affected by severe flooding from the Rhone River, leading to a complete suspension of operations. Fortunately, all employees are safe. Cleaning operations have commenced with local authority support, but the extent of the damage and the timeline for resuming production remain uncertain. Constellium is working with customers and suppliers to mitigate the impact and optimize capacity across its operations. The company will provide further updates as more details emerge.
Constellium SE announced the voting results from its Annual General Meeting (AGM) held on May 2, 2024.
All proposals were adopted, including the re-appointment of Jean-Christophe Deslarzes, Isabelle Boccon-Gibod, and Jean-Philippe Puig to the Board of Directors for another three years.
Additionally, Jean-Francois Verdier and Wiebke Weiler were re-appointed as employee directors for a three-year term, extending their service until the AGM in 2027.
The results have been published on the company's website.
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