Financials Constellium CINNOBER BOAT

Stocks

0QSG

NL0010489522

Aluminum

Delayed CINNOBER BOAT Other stock markets			5-day change	1st Jan Change
- ^EUR	-.--%		-.--%	-

07-08	UBS Adjusts Constellium Price Target to $35 From $38, Maintains Buy Rating	MT
06-29	Constellium Sells Stake In Chinese Automotive Joint Venture	MT

Projected Income Statement: Constellium

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	6,152	8,120	7,239	7,028	7,144	9,106	9,335	9,182
Change	-	31.99%	-10.85%	-2.91%	1.64%	27.47%	2.51%	-1.64%
EBITDA ¹	581	673	713	595.3	715.3	834.3	821.5	887.2
Change	-	15.83%	5.94%	-16.5%	20.15%	16.64%	-1.54%	8%
EBIT ¹	314	334	337	235.1	437.1	627.3	533.6	585.3
Change	-	6.37%	0.9%	-30.24%	85.95%	43.51%	-14.94%	9.69%
Interest Paid ¹	-167	-131	-141	-106.1	-92.25	-96.35	-88.93	-77.86
Earnings before Tax (EBT) ¹	317	203	196	129	345	565.9	443.2	500.9
Change	-	-35.96%	-3.45%	-34.18%	167.4%	64.05%	-21.68%	13.02%
Net income ¹	257	301	125	53.51	230.8	405.9	310.7	328.9
Change	-	17.12%	-58.47%	-57.19%	331.33%	75.87%	-23.45%	5.83%
Announcement Date	2/23/22 A	2/22/23 A	2/21/24 A	2/20/25 A	2/18/26 A	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	1,518	1,587	1,706	1,979	2,275	2,022	1,844	1,956	1,950	1,720	1,613	1,731	1,795	1,639	1,645	1,736	1,810	1,858	1,861	2,102	2,380	2,357	2,307	2,370	2,438	2,308	2,269	2,257
Change	-	4.55%	7.5%	16%	14.96%	-11.12%	-8.8%	6.07%	-0.31%	-11.79%	-6.22%	7.32%	3.7%	-8.69%	0.34%	5.56%	4.25%	2.64%	0.18%	12.94%	13.24%	-0.98%	-2.11%	2.74%	2.85%	-5.32%	-1.68%	-0.53%
EBITDA ¹	170	143	147	167	198	160	148	166	209	168	171	137	172	113	119.4	163.2	136.8	168.1	236.7	224	239.6	189.2	176	214.4	226.2	201.2	189.6	239
Change	-	-15.88%	2.8%	13.61%	18.56%	-19.19%	-7.5%	12.16%	25.9%	-19.62%	1.79%	-19.88%	25.55%	-34.3%	5.71%	36.59%	-16.13%	22.84%	40.84%	-5.38%	6.96%	-21.02%	-7.01%	21.84%	5.5%	-11.05%	-5.74%	26.01%
EBIT ¹	105	76	75	248	-4	30	60	62	79	118	78	58	127	44	9.556	78.07	73.15	131.2	160.6	256.2	168.1	120.3	106	143.5	158.1	135.6	121.6	164.6
Change	-	-27.62%	-1.32%	230.67%	-101.61%	850%	100%	3.33%	27.42%	49.37%	-33.9%	-25.64%	118.97%	-65.35%	-78.28%	716.98%	-6.3%	79.37%	22.43%	59.48%	-34.4%	-28.42%	-11.87%	35.36%	10.16%	-14.24%	-10.3%	35.35%
Charge d'intérêts ¹	-37	-34	-41	-30	-32	-36	-33	-35	-35	-36	-35	-33	-32	-36	-26.76	-23.8	-25.15	-23.16	-22	-23.94	-24.88	-22.46	-21.18	-22.74	-21.87	-21.87	-21.87	-
Earnings before Tax (EBT) ¹	130	119	9	218	-36	-6	27	27	44	82	43	25	95	8	-17.2	54.39	48.19	108.1	138.7	232.3	143.8	97.45	83.81	120.4	135.3	112.8	98.83	141.8
Change	-	-8.46%	-92.44%	2,322.22%	-116.51%	83.33%	550%	0%	62.96%	86.36%	-47.56%	-41.86%	280%	-91.58%	-315.01%	416.19%	-11.39%	124.22%	28.32%	67.52%	-38.08%	-32.26%	-13.99%	43.69%	12.35%	-16.63%	-12.38%	43.51%
Net income ¹	107	97	7	177	-34	130	28	20	31	64	10	16	71	2	-45.87	32.46	30.98	75.47	94.7	169.9	101.2	67.05	57.58	82.44	91.88	75.95	66.6	97.65
Change	-	-9.35%	-92.78%	2,428.57%	-119.21%	482.35%	-78.46%	-28.57%	55%	106.45%	-84.38%	60%	343.75%	-97.18%	-2,393.44%	170.76%	-4.54%	143.59%	25.48%	79.46%	-40.44%	-33.76%	-14.12%	43.16%	11.45%	-17.34%	-12.3%	46.61%
Announcement Date	7/28/21 A	10/27/21 A	2/23/22 A	4/27/22 A	7/27/22 A	10/26/22 A	2/22/23 A	4/26/23 A	7/26/23 A	10/25/23 A	2/21/24 A	4/24/24 A	7/23/24 A	10/23/24 A	2/20/25 A	4/30/25 A	7/29/25 A	10/29/25 A	2/18/26 A	4/29/26 A	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Constellium

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,982	1,891	1,664	1,697	1,544	1,373	1,086	453
Change	-	-4.59%	-12%	1.98%	-9.02%	-11.06%	-20.9%	-58.29%
Announcement Date	2/23/22 A	2/22/23 A	2/21/24 A	2/20/25 A	2/18/26 A	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Constellium

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	232	273	337	394.7	279.3	286.8	279.4	280
Change	-	17.67%	23.44%	17.11%	-29.24%	2.68%	-2.56%	0.22%
Free Cash Flow (FCF) ¹	125	182	170	-95.56	150.6	294	296.9	323.7
Change	-	45.6%	-6.59%	-156.21%	257.64%	95.15%	1.01%	9%
Announcement Date	2/23/22 A	2/22/23 A	2/21/24 A	2/20/25 A	2/18/26 A	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Constellium

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	9.44%	8.29%	9.85%	8.47%	10.01%	9.16%	8.8%	9.66%
EBIT Margin (%)	5.1%	4.11%	4.66%	3.34%	6.12%	6.89%	5.72%	6.38%
EBT Margin (%)	5.15%	2.5%	2.71%	1.84%	4.83%	6.21%	4.75%	5.46%
Net margin (%)	4.18%	3.71%	1.73%	0.76%	3.23%	4.46%	3.33%	3.58%
FCF margin (%)	2.03%	2.24%	2.35%	-1.36%	2.11%	3.23%	3.18%	3.53%
FCF / Net Income (%)	48.64%	60.47%	136%	-178.57%	65.26%	72.42%	95.56%	98.42%
Profitability
ROA	5.87%	6.29%	3.45%	1.16%	5.41%	8.01%	5.97%	-
ROE	329.51%	57.72%	21.07%	7.87%	32.93%	41.16%	25.69%	21.06%
Financial Health
Leverage (Debt/EBITDA)	3.41x	2.81x	2.33x	2.85x	2.16x	1.65x	1.32x	0.51x
Debt / Free cash flow	15.86x	10.39x	9.79x	-17.76x	10.25x	4.67x	3.66x	1.4x
Capital Intensity
CAPEX / Current Assets (%)	3.77%	3.36%	4.66%	5.62%	3.91%	3.15%	2.99%	3.05%
CAPEX / EBITDA (%)	39.93%	40.56%	47.27%	66.29%	39.04%	34.37%	34.01%	31.56%
CAPEX / FCF (%)	185.6%	150%	198.24%	-413%	185.39%	97.54%	94.09%	86.52%
Items per share
Cash flow per share ¹	2.426	3.076	3.391	1.943	2.916	4.304	4.55	-
Change	-	26.82%	10.22%	-42.68%	50.03%	47.6%	5.72%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	1.93	5.066	5.742	4.391	5.768	8.429	10.72	14.34
Change	-	162.48%	13.34%	-23.52%	31.36%	46.14%	27.12%	33.84%
EPS ¹	1.75	2.06	0.84	0.3631	1.623	2.886	2.218	2.484
Change	-	17.71%	-59.22%	-56.77%	347.05%	77.75%	-23.14%	12.01%
Nbr of stocks (in thousands)	141,677	144,302	146,820	146,266	137,802	136,150	136,150	136,150
Announcement Date	2/23/22 A	2/22/23 A	2/21/24 A	2/20/25 A	2/18/26 A	-	-	-