The manufacturer of aluminum products Constellium saw its net profit fall by 88% in the first quarter, on a turnover in slight decline (-1%), mainly due to the surge in energy costs and the decline in oil prices. aluminum compared to early 2022, he announced on Wednesday.
Totaling 1.95 billion euros, turnover decreased “mainly due to lower metal prices offset by an improvement in prices and mix”, indicated in a press release Constellium.
Net profit plunged to 22 million euros from 179 million in the first quarter of last year. This fall is mainly due to “losses on the derivatives market and hedging positions on the market” of raw materials, explains the group.
In volume, shipments fell 6% to 259,000 tonnes.
Like turnover, operating profit (Ebitda) fell by 1%. That of the automotive packaging and roll products branch fell 33%, due to “the drop in shipments combined with an increase in operating costs due to inflation”, explains the group.
But in the aerospace branch, operating profit jumped 37% to 73 million euros, benefiting from the recovery of the sector. The turnover of this division increased by 17%, to 452 million euros.
In the automotive division (structures), operating profit also rose, climbing 17%, on sales up 5%, to 483 million euros.
For 2023, the group, listed in New York and Paris, forecasts an Ebitda “in a range of 650 to 680 million euros”.
Constellium makes barely 10% of its sales in France, but has major production sites there inherited from Pechiney, notably in Neuf-Brisach (Bas-Rhin) and Issoire (Puy-de-Dôme). The French public investment bank Bpifrance is present in the capital of the group.
Its other factories are located in Germany, Switzerland (formerly AluSuisse), Canada and the United States.
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2023-04-27 01:16:05
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