Constellium SE reported results for the fourth quarter and full year ended December 31, 2022.

Highlights in Q4 included aluminium shipments of 368 thousand metric tons, down 5% compared to the same period in 2021

Revenue was at €1.8 billion, up 8% compared to Q4 2021, while Value-Added Revenue (VAR) was at €696 million, up 18%.

Net income was €30 million compared to net income of €7 million, while adjusted EBITDA was €148 million, up 1%.

Cash from operations was €128 million and Free Cash Flow was €22 million.

For Constellium’s full year highlights, it included shipments of 1.6 million metric tons, up 1% compared to 2021.

Revenue was at €8.1 billion, up 32%, while VAR was €2.7 billion, up 21%. 

Net income reported was €308 million compared to net income of €262 million in 2021. Adjusted EBITDA was €673 million, up 16%, while Cash from Operations was at €451 million and Free Cash Flow was €182 million.    

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.”

Constellium is a global leader in the development and manufacturing of high value-added aluminium products and solutions, and in aluminium recycling.