Benzinga | Jul 22, 2020 06:05AM EDT

Constellium Q2 Sales 1B, Net Loss 32M

PARIS, July 22, 2020 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) today reported results for the second quarter ended June 30, 2020.

For the second quarter of 2020:

* Shipments of 310 thousand metric tons, down 25% compared to Q2 2019

* Revenue of (euro)1.0 billion, down 33% compared to Q2 2019

* Net loss of (euro)32 million compared to net income of (euro)17 million in Q2 2019

* Adjusted EBITDA of (euro)81 million, down 51% compared to Q2 2019

* Cash from Operations of (euro)8 million and Free Cash Flow of (euro)(33) million

For the first half of 2020:

* Shipments of 703 thousand metric tons, down 15% compared to H1 2019

* Revenue of (euro)2.5 billion, down 20% compared to H1 2019

* Net loss of (euro)63 million compared to net income of (euro)41 million in H1 2019

* Adjusted EBITDA of (euro)228 million, down 24% compared to H1 2019

* Cash from Operations of (euro)152 million and Free Cash Flow of (euro)54 million

* Net debt / LTM Adjusted EBITDA of 4.4x as of June 30, 2020