Revenue: As of FY2025, the actual value is USD 8.449 B.EPS: As of FY2025, the actual value is USD 1.92, beating the estimate of USD 1.5108.EBIT: As of FY2025, the actual value is USD 517 M.<h3>Consolidated Performance (Year Ended December 31, 2025 vs. 2024)</h3><h4>Operational Metrics</h4><ul><li>Shipment Volumes: Total sales volumes rose by 4% to 1,495 kt in 2025 from 1,438 kt in 2024. </li><li>Cost of Sales: Increased by 14% to $7,262 million in 2025 from $6,397 million in 2024. </li><li>Selling and Administrative Expenses: Increased by 6% to $332 million in 2025 from $313 million in 2024. </li><li>Research and Development Expenses: Increased by 4% to $51 million in 2025 from $49 million in 2024. </li><li>Other Gains and Losses - net: This category showed a gain of $43 million in 2025, compared to a loss of - $26 million in 2024. <ul><li>Realized gains on derivatives were $19 million in 2025, up from $12 million in 2024. </li><li>Unrealized gains on derivatives at fair value through profit and loss were $56 million in 2025, compared to a loss of - $1 million in 2024. </li></ul></li><li>Finance Costs - net: Decreased by 2% to - $109 million in 2025 from - $111 million in 2024. </li><li>Income Tax Expense: Increased to - $133 million in 2025 from - $75 million in 2024. </li><li>Net Income: Significantly increased to $275 million in 2025 from $60 million in 2024. </li><li>Adjusted EBITDA: Total Adjusted EBITDA was $846 million in 2025, up from $623 million in 2024. <ul><li>Metal price lag contributed $126 million to Adjusted EBITDA in 2025, compared to $48 million in 2024. </li></ul></li><li>Capital Expenditures: Total capital expenditures were - $311 million in 2025, down from - $401 million in 2024. </li><li>Depreciation, Amortization, and Impairment Expense: Total expense was - $351 million in 2025, compared to - $328 million in 2024. </li></ul><h3>Segmented Results (Year Ended December 31, 2025 vs. 2024)</h3><h4>Aerospace &amp; Transportation (A&amp;T)</h4><ul><li>Revenue: Increased by 8% to $1,968 million in 2025 from $1,816 million in 2024. </li><li>Shipment Volumes: Decreased by 1% (or 2 kt). </li><li>Segment Adjusted EBITDA: Increased by 16% to $339 million in 2025 from $292 million in 2024. <ul><li>Segment Adjusted EBITDA per ton increased by 17% to $1,634 in 2025 from $1,395 in 2024. </li></ul></li><li>Capital Expenditures: - $75 million in 2025 vs. - $99 million in 2024. </li><li>Depreciation, Amortization, and Impairment: - $70 million in 2025 vs. - $75 million in 2024. </li><li>Assets: $1,375 million in 2025 vs. $1,172 million in 2024. </li></ul><h4>Packaging &amp; Automotive Rolled Products (P&amp;ARP)</h4><ul><li>Revenue: Increased by 21% to $5,078 million in 2025 from $4,196 million in 2024. </li><li>Shipment Volumes: Increased by 6% (or 59 kt). </li><li>Segment Adjusted EBITDA: Increased by 46% to $353 million in 2025 from $242 million in 2024. <ul><li>Segment Adjusted EBITDA per ton increased by 38% to $325 in 2025 from $236 in 2024. </li></ul></li><li>Capital Expenditures: - $175 million in 2025 vs. - $221 million in 2024. </li><li>Depreciation, Amortization, and Impairment: - $186 million in 2025 vs. - $166 million in 2024. </li><li>Assets: $2,405 million in 2025 vs. $2,118 million in 2024. </li></ul><h4>Automotive Structures &amp; Industry (AS&amp;I)</h4><ul><li>Revenue: Increased by 10% to $1,579 million in 2025 from $1,432 million in 2024. </li><li>Shipment Volumes: Stable. </li><li>Segment Adjusted EBITDA: Decreased by 3% to $72 million in 2025 from $74 million in 2024. <ul><li>Segment Adjusted EBITDA per ton decreased by 3% to $357 in 2025 from $367 in 2024. </li></ul></li><li>Capital Expenditures: - $56 million in 2025 vs. - $74 million in 2024. </li><li>Depreciation, Amortization, and Impairment: - $88 million in 2025 vs. - $82 million in 2024. </li><li>Assets: $711 million in 2025 vs. $651 million in 2024. </li></ul><h3>Cash Flows (Year Ended December 31, 2025 vs. 2024)</h3><ul><li>Net Cash Flows from Operating Activities: Increased to $489 million in 2025 from $301 million in 2024. <ul><li>Working capital changes in 2025 included an increase in inventory of - $149 million, an increase in trade receivables of - $203 million, and an increase in trade payables of $168 million. </li></ul></li><li>Net Cash Flows used in Investing Activities: - $309 million in 2025 vs. - $313 million in 2024. </li><li>Net Cash Flows used in Financing Activities: - $215 million in 2025 vs. - $61 million in 2024. </li></ul><h3>Liquidity and Capital Resources (as of December 31, 2025)</h3><ul><li>Total Liquidity: $866 million, comprising $120 million in cash and cash equivalents, $541 million availability under the Pan-U.S. ABL facility, $118 million availability under the French Inventory Facility, and $87 million availability under factoring arrangements. </li><li>Factored Receivables: $430 million in 2025 vs. $376 million in 2024. </li><li>Share Repurchase Program: Constellium SE had approximately $106 million remaining under its share repurchase program, having repurchased approximately 13.5 million shares for approximately $194 million since inception. </li></ul><h3>Other Key Metrics</h3><ul><li>R&amp;D Investment: Constellium SE invested $51 million in R&amp;D in 2025, compared to $49 million in 2024 and $52 million in 2023. </li><li>Environmental Remediation Costs Provisions: The aggregate close down and environmental remediation costs provisions were $98 million at December 31, 2025. </li><li>Pension and Other Post-Employment Benefit Obligations: The net liability arising from defined benefit obligation was $362 million at December 31, 2025. <ul><li>Expected contributions to pension and OPEB plans for 2026 are $28 million and $15 million, respectively. </li></ul></li><li>Customer Concentration: The 10 largest customers represented approximately 56% of revenue for the year ended December 31, 2025, with sales to the two largest customers totaling $1,795 million. </li><li>Metal Supplier Concentration: The top 10 metal suppliers accounted for approximately 49% of total metal purchases (in terms of volumes) for the year ended December 31, 2025. </li><li>Contractual Commitments for PPE: Contractual commitments for the acquisition of Property, Plant and Equipment amounted to $142 million at December 31, 2025. </li></ul><h3>Outlook / Guidance</h3>Constellium SE anticipates stable macroeconomic conditions and continued demand trends in its end markets into early 2026. The company expects to benefit from market dynamics such as supply shortages for automotive rolled products and improved scrap spreads in North America. Constellium SE remains focused on executing its strategy, enhancing operational performance, controlling costs, generating Free Cash Flow, and increasing shareholder value.

Constellium SE | 10-K: FY2025 Revenue: USD 8.449 B