Constellium: record operating profit in Q3
(CercleFinance.com) - Constellium has reported record operating profit for Q3 on Wednesday, in particular driven by the strength of its aerospace activities.
The industrial group reported adjusted Ebitda of E168m for the period, up 5% y-o-y, despite sales down 15% to E1.7bn.
Net income came to E64m, compared with E131m in Q3 2022.
Constellium explains that demand remains solid in the aerospace sector, but is beginning to slow in the automotive sector, although it remains above last year's levels.
In the packaging sector, deliveries eased off in Q3, the company adds, although it points to signs of stabilization in the sector following destocking in recent quarters.
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The industrial group reported adjusted Ebitda of E168m for the period, up 5% y-o-y, despite sales down 15% to E1.7bn.
Net income came to E64m, compared with E131m in Q3 2022.
Constellium explains that demand remains solid in the aerospace sector, but is beginning to slow in the automotive sector, although it remains above last year's levels.
In the packaging sector, deliveries eased off in Q3, the company adds, although it points to signs of stabilization in the sector following destocking in recent quarters.
Copyright (c) 2023 CercleFinance.com. All rights reserved.