Constellium has reported a fourth-quarter net loss of EUR80m (US$98m) following a EUR20m negative figure for the same period last year.
Revenue however, rose 8% to EUR1.2bn, while shipments increased 2% to 350,000 metric tons. Automotive shipments were up 35%.
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Full-year 2017 net loss was EUR31m compared to EUR4m in 2016, while shipments rose 1% to 1.5m metric tons.
“Constellium delivered very strong results in 2017. Our A&T and AS&I business units reported record annual Adjusted EBITDA, while P&ARP was comparable to the prior year,” said Constellium CEO, Jean-Marc Germain.
“I am pleased with these results and the significant progress we have made in executing on our strategy. We reiterate our adjusted EBITDA guidance of high single digit growth annually through 2020, leading to over EUR500m in 2020.
“Our commitment to increasing financial flexibility and deleveraging is clear and evidenced by the successful refinancing in the fourth quarter and the binding agreement to sell the Sierre North Building Assets announced earlier this month. These actions position us well for the future.
“Our focus remains on delivering on our strategy and on increasing value for our shareholders.”
