French aluminum diecaster Constellium reported lower revenues through the first nine months of this year than it did during the corresponding period in 2019, largely because sales tapered by 14pc.
The company shipped 1.05mn mt of rolled, extruded and structural aluminum products during January-September 2020, compared to 1.22m mt during the year prior. In Q3 2020, these deliveries amounted to 354,000mt, 11pc below the same quarter last year.
The decline in shipments was attributed to lower demand and cost cutting from the aerospace sector, which is still reeling from the impact of travel restrictions that stem from the COVID-19 pandemic. Sales to this industry in Q3 2020 totaled 36,000mt, representing a 37pc decline from Q3 2019. This shortfall was somewhat offset by a 7pc increase in the packaging and automotive rolled products division’s sales rising to 258,000mt in the quarter.
In the first nine months of the year, Constellium’s revenues declined by 20pc to €3.6bn ($4.2bn) from €4.5bn during the same period in 2019. However, the company’s net income rose to €20mn last quarter from €1mn in Q3 2019.
(€1 = $1.18)