$CSTM

Constellium N.V.

CIK:0001563411|SEC Filings

CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 2,748	$ 2,103	$ 5,209	$ 4,082
Cost of sales (excluding depreciation and amortization)	(2,268)	(1,840)	(4,309)	(3,556)
Depreciation and amortization	(84)	(82)	(167)	(160)
Selling and administrative expenses	(101)	(88)	(198)	(166)
Research and development expenses	(14)	(12)	(27)	(25)
Other gains and losses – net	(39)	4	34	(1)
Finance costs – net	(28)	(29)	(56)	(56)
Income before tax	214	56	486	118
Income tax expense	(66)	(20)	(142)	(44)
Net income	148	36	344	74
Attributable to:
Equity holders of Constellium SE	146	36	345	73
Non-controlling interests	$ 2	$ 0	$ (1)	$ 1
Earnings per share attributable to the equity holders of Constellium SE (in U.S. dollars)
Basic earnings per share (in USD per share)	$ 1.07	$ 0.25	$ 2.54	$ 0.51
Diluted earnings per share (in USD per share)	$ 1.04	$ 0.25	$ 2.46	$ 0.51

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]
Net income	$ 148	$ 36	$ 344	$ 74
Adjustments
Depreciation and amortization	84	82	167	160
Impairment of assets	(1)	0	3	0
Pension and other long-term benefits	5	2	7	4
Finance costs - net	28	29	56	56
Income tax expense	66	20	142	44
Unrealized losses / (gains) on derivatives - net and from remeasurement of monetary assets and liabilities - net	102	(35)	59	(24)
Losses on disposal	1	1	1	1
Other - net	14	11	32	22
Changes in working capital
Inventories	(216)	4	(495)	(65)
Trade receivables	(169)	12	(418)	(261)
Trade payables	154	(38)	480	241
Other	12	23	(24)	5
Change in provisions	(15)	(1)	(13)	(2)
Pension and other long-term benefits paid	(11)	(12)	(25)	(25)
Interest paid	(21)	(24)	(50)	(53)
Income tax paid	(20)	4	(32)	(5)
Net cash flows from operating activities	161	114	234	172
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]
Purchases of property, plant and equipment	(77)	(77)	(149)	(146)
Property, plant and equipment inflows	6	4	10	12
Collection of deferred purchase price receivable	0	0	0	2
Proceeds from disposals, net of cash	2	0	2	0
Other investing activities	0	1	0	1
Net cash flows used in investing activities	(69)	(72)	(137)	(131)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]
Repurchase of ordinary shares	(20)	(35)	(48)	(50)
Repayments of long-term debt	(1)	(2)	(2)	(3)
Net change in revolving credit facilities and short-term debt	(46)	23	4	28
Finance lease repayments	(2)	(1)	(4)	(3)
Transactions with non-controlling interests	(2)	(2)	(6)	(4)
Other financing activities	0	(19)	5	(30)
Net cash flows used in financing activities	(71)	(36)	(51)	(62)
Net increase / (decrease) in cash and cash equivalents	21	6	46	(21)
Cash and cash equivalents - beginning of period	143	118	120	141
Net increase / (decrease) in cash and cash equivalents	21	6	46	(21)
Effect of exchange rate changes on cash and cash equivalents	(1)	9	(3)	13
Cash and cash equivalents - end of period	$ 163	$ 133	$ 163	$ 133

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 163	$ 120
Trade receivables and other, net	1,167	723
Inventories	1,877	1,407
Fair value of derivative instruments and other financial assets	66	72
Total current assets	3,273	2,322
Non-current assets
Property, plant and equipment, net	2,481	2,585
Goodwill	46	47
Intangible assets, net	82	88
Deferred tax assets	153	270
Trade receivables and other, net	33	31
Fair value of derivative instruments	2	11
Total non-current assets	2,797	3,032
Total assets	6,070	5,354
Current liabilities
Trade payables and other	2,104	1,674
Current portion of long-term debt	42	39
Fair value of derivative instruments	74	18
Income tax payable	24	18
Pension and other benefit obligations	23	24
Provisions	23	25
Total current liabilities	2,290	1,798
Non-current liabilities
Trade payables and other	162	163
Long-term debt	1,881	1,905
Fair value of derivative instruments	4	3
Pension and other benefit obligations	327	338
Provisions	92	106
Deferred tax liabilities	60	70
Total non-current liabilities	2,526	2,585
Total liabilities	4,816	4,383
Commitments and contingencies
Shareholders' equity
Ordinary shares, par value €0.02, 146,819,884 shares issued at June 30, 2026 and at December 31, 2025; 135,527,728 and 135,424,702 shares outstanding at June 30, 2026 and at December 31, 2025, respectively	4	4
Additional paid in capital	712	693
Accumulated other comprehensive income	34	54
Retained earnings	673	354
Treasury shares 11,292,156 at June 30, 2026 and 11,395,182 at December 31, 2025	(177)	(153)
Equity attributable to equity holders of Constellium SE	1,246	952
Non-controlling interests	8	19
Total equity	1,254	971
Total equity and liabilities	$ 6,070	$ 5,354