Constellium - Another strong quarter, FY17 guidance increased
Constellium, the French developer of value-added aluminium products, published again a strong quarter leading to an increase of its FY17 EBITDA growth guidance to +13% yoy from high single digit. As in 2Q17, shipment were slightly down by 1% yoy, revenue increased by 7% driven mainly by higher aluminium prices and EBITDA per metric ton jumped by 16% yoy. The latter was fuelled by the Aerospace & Transportation segment which has recovered well (+49% yoy) from last year weak profitability per ton in 3Q16. At the same time the two other segments progressed by 3% yoy on the back of higher value added products sold.
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