Constellium : 2020 should only be a pause on the road to growth
The improving trajectory of operating results and credit metrics from 2017 onwards under new management is expected to pause in 2020 because of the health crisis. The automotive, industrial and aerospace sectors, which are Constellium’s most cyclical end markets, will be severely affected. However, the group’s significant exposure to the packaging sector (more than half of volumes in 2019) should contain the erosion of financial results. Coupled with a tight rein on spending, Con...Constellium N.V. designs and manufactures a range of innovative specialty rolled and extruded aluminum products, serving primarily the aerospace, packaging and automotive end-markets. Co. has a strategic footprint of manufacturing facilities located in the United States, Europe and China. Co.'s product portfolio commands higher margins as compared to less differentiated, more commoditized fabricated aluminum products, such as common alloy coils, paintstock, foilstock and soft alloys for construction and distribution. Co. organizes its business around three operating segments: Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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