Constellium NVs financial results improved in its second
quarter as a public company, posting net income of 24
million ($31.8 million) for the three months ended June 30 vs.
a 19-million net loss in the same period last year.
916 million ($1.21 billion), down 6.1 percent from
976 million in the same comparison, as shipments slipped
0.9 percent to 274,000 tonnes from 277,000 tonnes.
But chief financial
officer Didier Fontaine cautioned against comparing
Constelliums second-quarter results with its performance
last year, when poor weather hurt auto sales and production
numbers were inflated ahead of a third-quarter strike at its
Ravenswood, W.Va., plant. The latest results also were impacted
by a planned maintenance shutdown at Ravenswood, Fontaine said
in a conference call Aug. 29.
The company saw solid
growth in its automotive and aerospace segments, while the
packaging segment remained solid despite softness in can stock
product, Constellium chief executive officer Pierre Vareille
said during the conference call. He said he feels confident
about continuing strong performances in each segment.
The company saw record
production in aerospace and double-digit growth in auto body
sheet and automotive structures, Vareille said, noting that the
companys automotive products and sales continue to be
boosted by rising demand for aluminum.
anticipates a typically weaker third quarter, Vareille said,
but expects the companys performance to be stronger than
in the third quarter of last year, which was adversely impacted
by the Ravenswood strike.
The company is ramping
up its expansion in the hot-rolled sheet market, although
Vareille said he could not go into detail about it other than
to say "so far so good." Constellium recently completed two
projects totaling 23 million ($30.5 million) at its
rolling and recycling complex in Neuf-Brisach, France (
amm.com, July 26).