However, these non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures and may not be comparable to similarly titled measures of other companies. Cash flows from financing activities were €140 million for the first half of 2020 compared to cash flows from financing activities of €4 million in the same period of the prior year. About Our Data. In considering the financial performance of the business, management and our chief operational decision maker, as defined by IFRS, analyze the primary financial performance measure of Adjusted EBITDA in all of our business segments. Investor Relations. This press release may contain “forward-looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. Revenue of €250 million decreased 35% compared to the second quarter of 2019 on lower shipments and lower metal prices. Previous news Next news. Reconciliations to the most directly comparable IFRS financial measures are presented in the schedules to this press release. Constellium (NYSE) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. AMSTERDAM, The Netherlands, July 24, 2019 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) today reported results for the second quarter ended June 30, 2019. Constellium’s earnings materials for the second quarter ended June 30, 2020, are also available on the company’s website (www.constellium.com). Does Constellium SE's CEO Pay Compare Well With Peers? The change was primarily due to weaker Adjusted EBITDA and less of a benefit from trade working capital, partially offset by lower capital expenditures.
Consequently, actual results may differ materially from the forward-looking statements contained in this press release. Ryan Wentling – Investor Relations … The first half of 2019 included a €54 million lease redemption associated with the acquisition of Bowling Green. Ryan Wentling-- Director of Investor Relations . The company was founded on May 14, 2010 and is headquartered in Paris, France. We believe Adjusted EBITDA, as defined below, is useful to investors and is used by our management for measuring profitability because it excludes the impact of certain non-cash charges, such as depreciation, amortization, impairment and unrealized gains and losses on derivatives as well as items that do not impact the day-to-day operations and that management in many cases does not directly control or influence. Shipments of 490 thousand metric tons decreased 13% compared to the first half of 2019 due to lower shipments across automotive, packaging and specialty products. Voting results for Constellium SEs 2020 Annual General Meeting. Adjusted EBITDA of €81 million decreased 51% compared to the second quarter of 2019 due to weaker results in all three segments. These risks and uncertainties include, but are not limited to: market competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the global COVID-19 pandemic; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. Constellium (NYSE) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Revenue of €565 million decreased 31% compared to the second quarter of 2019, primarily due to lower shipments and lower metal prices. Corporate Communications U.S. +1 (443) 420 7860 . We believe these non-GAAP measures are important supplemental measures of our operating and financial performance. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Shipments of 44 thousand metric tons decreased 33% compared to the second quarter of 2019 on lower shipments of automotive and Industry products. Cash flows from operating activities were €152 million for the first half of 2020 compared to cash flows from operating activities of €260 million in the same period of the prior year. Delphine Dahan-Kocher. The fireside chat is scheduled to begin at approximately 10:15 a.m. (Eastern Daylight Time). Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Constellium (NYSE) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. The calculation of the Group metal price lag adjustment is based on an internal standardized methodology calculated at each of Constellium’s manufacturing sites and is primarily calculated as the average value of product recorded in inventory, which approximates the spot price in the market, less the average value transferred out of inventory, which is the weighted average of the metal element of cost of sales, based on the quantity sold in the period. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Constellium Reports Next Week: Wall Street Expects Earnings Growth. Free Cash Flow is defined as net cash flow from operating activities less capital expenditure, equity contributions and loans to joint ventures and other investing activities. For the second quarter of 2020, net loss of €32 million compared to a net income of €17 million in the second quarter of last year. In July 2020, Constellium entered into two additional credit facilities partially guaranteed by the German State with total availability of €50 million. Find out more about how we use your information in our Privacy Policy and Cookie Policy. PARIS, July 22, 2020 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) today reported results for the second quarter ended June 30, 2020. Free Cash Flow has certain inherent limitations, including the fact that it does not represent residual cash flows available for discretionary spending, notably because it does not reflect principal repayments required in connection with our debt or capital lease obligations. Free Cash Flow was €54 million for the first half of 2020 compared to €126 million in the same period of the prior year. Constellium decreased factored receivables by €73 million for the first half compared to an increase of €25 million in the same period of the prior year. Investor Relations +1 (443) 988 0600. investor-relations@constellium.com. The Aerospace & Transportation segment includes the production of rolled and extruded aluminum products for the aerospace market, as well as rolled products for transport and industry end-uses.
Adjusted EBITDA is defined as income / (loss) from continuing operations before income taxes, results from joint ventures, net finance costs, other expenses and depreciation and amortization as adjusted to exclude restructuring costs, impairment charges, unrealized gains or losses on derivatives and on foreign exchange differences on transactions which do not qualify for hedge accounting, metal price lag, share based compensation expense, effects of certain purchase accounting adjustments, start-up and development costs or acquisition, integration and separation costs, certain incremental costs and other exceptional, unusual or generally non-recurring items.
By providing these measures, together with the reconciliations, we believe we are enhancing investors’ understanding of our business, our results of operations and our financial position, as well as assisting investors in evaluating the extent to which we are executing our strategic initiatives. Constellium generated €5.9 billion of revenue in 2019. © 2020 GlobeNewswire, Inc. All Rights Reserved. Press Release issued by Constellium SE on April 29, 2020. For the first half of 2020, net loss of €63 million compared to a net income of €41 million in the first half of last year. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Net debt is not a presentation made in accordance with IFRS, and should not be considered as an alternative to borrowings determined in accordance with IFRS. Top of page. Pay is salary, bonuses, etc.
Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. Adjusted EBITDA is the measure of performance used by management in evaluating our operating performance, in preparing internal forecasts and budgets necessary for managing our business and, specifically in relation to the exclusion of the effect of favorable or unfavorable metal price lag, this measure allows management and the investor to assess operating results and trends without the impact of our accounting for inventories. Given the evolving nature of the COVID-19 pandemic, Constellium is unable to forecast with reasonable accuracy the implications of the crisis or the environment that will follow, including the level of demand across our end markets or the impact on our supply chains.
For the second quarter of 2020, Adjusted EBITDA decreased 27% compared to the second quarter of 2019 primarily due to lower shipments, partially offset by strong cost control. The Automotive Structures & Industry segment includes crash-management systems, body structures and side impact beams in Germany, North America and China. For the six months ended June 30, 2019, Bowling Green one-time costs related to the acquisition include the non-cash reversal of the inventory step-up. Revenue of €2.5 billion decreased 20% compared to the first half of 2019 primarily due to lower shipments and lower metal prices. Based on our current view of market conditions, we expect to generate positive Free Cash Flow in 2020.".
Press release issued by Constellium SE dated March 19, 2020. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. Sir, please go ahead. The company operates through the following segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry. Packaging and Automotive Rolled Products (P&ARP).
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