Constellium reports a 31% hike in annual revenue despite sluggish shipments in CY2022, thanks to robust metal prices

On Wednesday, February 22, Constellium SE, a global leader in developing, manufacturing, and recycling aluminium products, announced the fourth quarter and full-year results ended December 31, 2022. The company reported its revenue grew by 8 per cent year-on-year to €1.8 billion in Q4 2022, bringing the revenue of the entire year to €8.1 billion versus €6.2 billion.

The revenue increased in CY2022 despite a stagnant volume of annual shipments at 1.6 million tonnes. Shipments in Q4 2022 contracted 4.42 per cent Y-o-Y from 385,000 tonnes to 368,000 tonnes. So, the revenue grew last year backed on the global aluminium price hike.

Constellium also revealed its net income amounted to €30 million in Q4 2022 compared to €7 million during the same period in 2021. The company’s net income in the entire year 2022 was recorded at €308 million, up by 17.56 per cent from €262 million in 2021.

Adjusted EBITDA of the company in the last quarter of the year was €148 million, up by 1 per cent from €147 million a year ago. For the full year, Constellium reported a 15.83 per cent hike in Adjusted EBITDA from €581 million to €673 million.

At the end of December 2022, the company had cash from operations of €451 million and Free Cash Flow of €182 million versus €357 million and €135 million, respectively.

Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Constellium delivered strong results in 2022, and I want to thank each of our 12,500 employees for their commitment and relentless focus on safety and serving our customers. 2022 was a year full of challenges including significant inflationary pressures and continuing supply chain disruptions. Despite these challenges, we achieved record Adjusted EBITDA of €673 million, including record results in both A&T and AS&I, generated record Free Cash Flow of €182 million and reduced our leverage to 2.8x.”

source https://www.alcircle.com/news/constellium-reports-a-31-hike-in-annual-revenue-despite-sluggish-shipments-in-cy2022-thanks-to-robust-metal-prices-91088