Constellium Posts Record $136M P&ARP EBITDA, Aerospace & Transportation Up 43%
Constellium’s P&ARP segment reported a record $136M EBITDA in Q4, up 143% YoY, on 15% higher packaging volumes and favorable scrap spreads. Aerospace & Transportation posted $83M EBITDA (+43% YoY) driven by a 41% rise in TID shipments, while 2025 free cash flow hit $178M.
1. P&ARP Segment Delivers Record EBITDA
Constellium’s Packaging & Automotive Rolled Products segment delivered a record $136 million adjusted EBITDA in Q4, a 143% increase year-over-year. The performance was driven by a $19 million volume gain from 15% higher packaging shipments, favorable metal costs and operational improvements at the Muscle Shoals facility.
2. Aerospace & Transportation Boosted by TID Demand
The Aerospace & Transportation segment generated $83 million adjusted EBITDA in Q4, up 43% year-over-year. Volume improvements, including a $31 million tailwind from a 41% surge in transportation, industry and defense shipments, were partially offset by a $28 million mix headwind and benefited from lower operating costs and a weaker dollar.
3. Full-Year Results and Free Cash Flow
For the full year 2025, P&ARP adjusted EBITDA reached $353 million (up 46%) and A&T EBITDA was $339 million (up 16%). Constellium produced $178 million of free cash flow, executed $115 million of share repurchases, and expects over $200 million of free cash flow in 2026 with approximately $115 million of capital expenditures.
4. Vision 2028 Operational Efficiency Program
The company unveiled Vision 2028, a group-wide efficiency initiative focusing on asset reliability, footprint optimization, throughput maximization and enhanced recycling. Management plans limited investment in debottlenecking and continued improvements in scrap usage to support cost reduction and profitability targets.