 Exhibit 99.1
F O U R S E A S O N S H O T E L |
 Head of US Investor Relations
Paul BLALOCK
INTRODUCTION |
 Forward Looking Statements
3
This presentation contains “forward-looking statements” with respect to our
business, results of operations and financial condition, and our expectations or beliefs
concerning future events and conditions. You can identify certain forward-looking
statements because they contain words such as, but not limited to, “believes,”
“expects,” “may,” “should,” “approximately,”
“anticipates,” “estimates,” “intends,” “plans,” “targets,” “likely,” “will,” “would,” “could” and similar expressions (or the negative
of these terminologies or expressions). All forward-looking statements involve risks and
uncertainties. Many risks and uncertainties are inherent in our industry and markets.
Others are more specific to our business and operations. The occurrence of the events described and the achievement of the expected results depend on
many events, some or all of which are not predictable or within our control. Actual results
may differ materially from the forward-looking statements contained in this
presentation.
These forward-looking statements involve a number of risks and uncertainties that could
cause actual results to differ materially from those suggested by the forward-
looking statements. Moreover, we caution you not to place undue reliance on these
forward-looking statements, which speak only as of the date they were made. We do
not undertake any obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date of the offering
memorandum or to reflect the occurrence of unanticipated events.
This presentation contains the terms Adjusted EBITDA, Management Adjusted EBITDA, Adjusted
EBITDA per ton, EBITDAP, Free Cash Flow and Net Debt, which are supplemental measures
not required by, or presented in accordance with, accounting principals generally accepted under IFRS as issued by IASB (“GAAP”). Adjusted
EBITDA, Management Adjusted EBITDA, Adjusted EBITDA per ton, EBITDAP, Free Cash Flow and Net
Debt are not measurements of financial performance under GAAP and should not be
considered as an alternative to operating or net income determined in accordance with GAAP. These measures may not be comparable to
similarly titled measures of other companies. The presentation provides a reconciliation of
non-GAAP financial measures to the most directly comparable financial measure.
These non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures.
This presentation contains industry data that we have prepared primarily based on our
knowledge of the industry in which we operate. Statements as to our market position
relative to our competitors are based on volume (by tons) for the year ended December 31, 2013, and, unless otherwise noted, internal analysis and estimates
may not have been verified by independent sources. |
 MANAGEMENT PARTICIPANTS
4
Prior to joining Constellium,
served as Executive Vice
President, Chief Financial Officer
and Information Technology
Director at Plastic Omnium, a
worldwide leading auto parts
manufacturer listed on Euronext
Paris.
PIERRE
VAREILLE
Chief Executive Officer of
Constellium
Prior to joining Constellium in September
2013, Mr. Figueroa served as Vice
President of Vehicle Control Systems at
WABCO. Prior to that, he was Chief
Purchasing Officer of VALEO, a tier-one
automotive supplier.
Former Chairman and CEO of FCI
(global leading manufacturer of
connectors), former CEO of
Wagon, a UK company listed on
the LSE, former member of the
executive committee in charge of
the aluminum conversion sector at
Pechiney, former Chairman and
CEO of Rhenalu.
DIDIER
FONTAINE
Chief Financial Officer
of Constellium
JEAN-CHRISTOPHE
FIGUEROA
President, Aerospace
& Transportation |
 F
O U R S E A S O N S H O T E L |
 Chief Executive Officer
Pierre VAREILLE
6 |
 7
Shares Of Constellium (In Millions)
(1) From time to time, including upon departure from Constellium,
participants in Management KG may withdraw their shares from Management KG and hold them for their own account.
Free float
Rio Tinto
Bpifrance
Management KG
Apollo
Rio Tinto /
Management
Secondary
Rio Tinto
Secondary
(1)
Apollo
Secondary
Apollo
Secondary
(1)
(1)
= 105.0
= 105.0
= 105.0
= 105.0
= 105.0
CONTINUING OUR EVOLUTION BY EXPANDING OUR FREE FLOAT
39%
51%
10%
20.3
(19.3%)
28.9
(27.5%)
37.6
(35.8%)
12.8
(12.2%)
5.4 (5.2%)
19.3
0.8
9.6
(9.1%)
40.4
(38.5%)
37.6
(35.8%)
12.8
(12.2%)
4.6 (4.4%)
9.6
50.4
(48.0%)
37.6
(35.8%)
12.8
(12.2%)
12.8
(12.2%)
4.2 (4.0%)
25.0
12.6
(12.0%)
76.0
(72.4%)
3.6 (3.4%)
12.6
12.8
(12.2%)
88.6
(84.4%)
3.6 (3.4%) |
 OVERVIEW OF KEY ACHIEVEMENTS
8
DELIVERED STRONG FINANCIAL PERFORMANCE
Business positioned to generate strong cash flows with
low leverage
Executed on-going cost reduction initiatives
26% Adjusted EBITDA growth for the year ended
December 31, 2013, compared with the same period last
year
CONTINUED TO OPTIMIZE BUSINESS
Actively managed asset portfolio, divesting non-strategic
assets to focus on high margin products
Capitalized on positioning in automotive and aerospace
markets and favorable substitution trends across many of
our end markets, including packaging
Announced new multi-year contract with Boeing; began
operating under new contract with Airbus in January 2013
PURSUING GROWTH OPPORTUNITIES
Announced plans for a joint venture with UACJ to supply
aluminum auto body sheet to the North American
automotive industry
Announced plans to invest up to €200 million over the
next three years to further grow European auto body
sheet business
Investments could be financed with existing balance sheet
cash as well as cash flow from operations
Just
announced
AIRWARE
®
expansion |
 9
Global Aluminum
66 Mt
42 Mt
Can Body &
End Stock
Proprietary
Aerospace
alloys
Aero plates
& sheets
Auto Body Sheet &
Automotive Structures
Brazing sheet
Speciality Extrusions
Bright, closures,
other specialty
Constellium Active
Constellium Not Active
Focus
Product Segment
Focus
Focused on the high value-add products in our target markets
12.5 Mt
Global aluminum fabrication market by production technology and product
segment Rolled & Extruded
CONSTELLIUM’S PRODUCT
FOCUS
Commodity
70%
Specialty
30%
Other
13%
Castings &
Forgings
24%
Extruded
32%
Rolled
31%
Litho sheet
GE Plate & Shate
Our
Our |
 10
Aerospace
Market Growth Forecast: 8%
Automotive
Market Growth Forecast: 18%
Packaging
Market Growth Forecast: 3%
Aerospace Plates: #1 Worldwide
Crash Management Systems: #2 Worldwide
Major European Player in Auto Body Sheet
Can Body Stock: #1 Europe
Closures: #1 Worldwide
2013 Sales by Operating Segment
A specialty metal fabricator focused on global commercial trends
Total Sales 2013: €3.5 billion
Total Adjusted EBITDA 2013: €280 million
CONSTELLIUM AT A GLANCE
34%
24%
42%
Automotive
Structures & Industry
Packaging &
Automotive Rolled
Products
Aerospace &
Transportation |
 11
Our customers’
businesses are driven by attractive secular trends
Key driver: Substitution
driven by regulation
Global Vehicle Sales: 81 m units
18%
growth rate for aluminum
demand for automotive
LONG-STANDING
RELATIONSHIPS
WITH
A
GLOBAL,
BLUE-CHIP
CUSTOMER
BASE
Key driver: GDP Growth
& potential substitution effect
3%
growth rate in European
can stock consumption
Key driver:
Global demand
8%
growth rate
for aerospace
Market value $4.5 trillion
Europe
38%
22%
18%
22%
Asia
Pacific
Other
North
America
42%
22%
21%
15%
Asia
Pacific
Other
Europe
North
America |
 2. Increase
productivity, efficiency, and safety
Lean transformation for continuous improvement
Sustainability
is integrated into our practices and procedures
12
3. Operate
the business to increase FCF, Adjusted EBITDA and
Adjusted EBITDA per Ton
1. Focus
on high value add products, customers and markets
STRATEGIES AND PRIORITIES FOR OUR UNIQUE PORTFOLIO OF BUSINESSES
|
 13
SURFALEX
®
SECURALEX
®
STRONGALEX
®
FORMALEX
®
SURFACE
EXCELLENCE
HIGH FORMABILITY
CRASH
STRENGTH
BROAD RANGE OF AUTOMOTIVE PRODUCTS TO SERVE OUR CUSTOMERS IN BOTH
THE US AND EUROPE FOR EXTRUSIONS AND BiW |
 14
Europe (+13%)
US (+38%)
CAGR ’12-‘20
China (+39%)
315
930
1800
GLOBAL ALUMINIUM BiW MARKET FORECAST (Kt)
CONSTELLIUM WELL-POSITIONED TO CAPITALIZE
6x
WE ARE WELL-POSITIONED TO CAPTURE BiW GROWTH OPPORTUNITIES
70
500
1000
30
230
400
600
2012
2015
2020
Europe
US
China
We are joining forces with UACJ to supply auto
body sheet to the North American auto industry
with initial target capacity of 100k metric tons
supplied from both partner’s rolling mills
The US market for aluminum auto body sheet is
expected to grow to 1Mt+ by 2020
We are already a leading European player in
automotive rolled products such as auto body
sheet
We announced plans to invest up to €200 million
over the next three years to further grow our
European auto body sheet business
200 |
 15
Aluminum CMS market (M units)
Aluminum Body Structure market (k tons)
35% pa
Europe
NA
Source: Automotive Structures CMS Data base (2014)
Europe
North
America
China
11% pa
Automotive Structures designs, engineers
and manufactures a range of products
Key AS products in cars
Plants on 3 continents to capture global
growth: China, Europe and U.S.
GLOBAL LEADER IN AUTOMOTIVE STRUCTURES
0
50
100
150
200
250
300
2012
2015
2020
2025
14
29
42
32
72
45
115
125
0
5
10
15
20
25
30
2010
2015
2020
8
3
2
11
6
3.5
13,5
7.5
5 |
 16
We are a major
player in European
can body stock
Making us the
supplier of choice to
blue-chip customers
CAGR
2012-2017E
+4%
+2%
Closure stock: #1 Worldwide
Can body stock: #1 Europe
Strong relationships with leading
customers
% Breakdown of Cans Sold
The leader in the stable European Can Body Stock Market
Can Stock Consumption (kt)
Resulting In Increased Aluminum Can Stock Consumption
Increased Use Of Aluminum In Europe, And With Room To Go
LEADING
POSITION
IN
EUROPEAN
PACKAGING
–
OUR
“BEDROCK”
OF
CASH GENERATING SEGMENT |
 17
CANSTOCK STRATEGY TO MAINTAIN LEADERSHIP POSITION
PURSUE OPERATIONAL AND COMMERCIAL EXCELLENCE
Technology leader, quality focus, strong technical and commercial
support STABLE AND GROWING MARKET
European beverage market to expand from 78% aluminum to 85% in 2016
Work with can customers in conversion opportunities
Solid cash generation and good economic resiliency
|
 18
Attractive long term growth outlook
#1 Worldwide
in aerospace plates; one of two
suppliers with dual continent
footprint
Strong track record to meet complex
challenges, focus on highest value
add products
Leader in Aluminum Lithium
technology
through
AIRWARE
®
uniquely suited for higher volumes
through new casting capacity
90%
of
aerospace
business
under
long
term contracts
AEROSPACE –
CONSTELLIUM IS A CRITICAL SUPPLIER FOR
A COMPREHENSIVE RANGE OF ALUMINUM PRODUCTS |
 FOUR SEASONS HOTEL |
 Chief Financial Officer
Didier FONTAINE |
 21
%
Source: Company earnings reports
2012
2013
STRONG SEGMENT PERFORMANCE IMPROVEMENT
Adjusted EBITDA (€) per metric ton
Adjusted EBITDA (€m)*
2012
2013
2012
2013
2012
2013
2012
2013
2012
2013
105
120
46
59
92
105
469
491
223
311
152
176
*May not sum to consolidated figures due to corporate allocations
|
 22
Adjusted
EBITDA
58%
21%
32%
2018 Estimated
2013
2018 Estimated
2013
€
300+ for 2018 Estimated
15%
12%
2011
2011
AUTOMOTIVE AND AEROSPACE PRODUCT MIX
Volume
Group
Adjusted
EBITDA per
metric ton
€
145 for 2011
€
273 for 2013
42% |
 23
INVESTMENTS AND CAPITAL SPENDING ROADMAP
BiW
Europe
€200 million
2014 thru 2018
AIRWARE
Europe
€70 million
1
2014 thru 2018
BiW
US
$50-100m
2
2015 thru 2018
BiW
US JV
51% of $150
million
3
2014 thru 2018
Total Growth Projects
€380 million
2014 thru 2018
Existing Operations
€145 million annually
2013 thru 2015
Existing Operations
€120 million annually
2016 thru 2018
€750 million over the next
three years 2
Additional investment to be decided
3
Equity investment in Joint Venture
1
Phase II investment previously announced plus new Phase III Acceleration
|
 24
INVESTMENTS AND CAPITAL SPENDING PLAN (€m)
Existing Operations
Growth Projects
€
144
€
202
€
227
€
155
€
124
€
145
€
120
144
145
140
125
125
120
57
189
102
30
4
2013A
2014E
2015E
2016E
2017E
2018E
€
329 |
 25
STRONG BALANCE SHEET WITH NO NEAR TERM MATURITIES
(*)
Liquidity measured as the sum of Cash and Cash Equivalents and availability under
long-term facilities €
millions
2013
Total Debt
365
Cash and Cash Equivalents
233
Net Debt
132
Net Debt/
LTM Adjusted EBITDA
0.5x
Leverage on EBITDAP
1.5x
Liquidity
(*)
393
Average Debt Life -
5 Years
Our objective is to keep minimum
headroom between €250/300
million at any point in time.
Peak net leverage due to
seasonality projected to reach 1.4
in Q1 2016.
2014 and 2015 year-end net
leverage projected below 1. |
 26
OUR BUSINESS MODEL
PROFITABILITY
We are a value-added leader in converting
aluminum into highly profitable products
Focus on selected high-end products
and high-growth markets
Secure our business with long term
contracts
We seek to maximize adjusted EBITDA and
cash flow over the long run
A portion of our business (P&ARP) is highly
stable
PRODUCTIVITY
We implement productivity and cost
improvement measures to grow margins
We actively manage working capital to
maximize cash flow
RISK MANAGEMENT
We hedge to minimize the volatility of our
cash flow resulting from movements of
LME prices and foreign exchange rates
Our business model enables effective
hedging against LME through either back
to back or financial hedging
FINANCIAL PROFILE
Conservative balance sheet with limited net
debt
Strong liquidity of €393m at the end of 2013
Low leverage ratio of 0.5x (Net Debt / FY 2013
Adjusted EBITDA)
Targeting long-term net leverage of ~1.5x
Our business model
is
to
add value
by
converting
aluminum into
unique, highly
profitable products
sought after by
customers in
selected markets |
 FOUR SEASONS HOTEL
27 |
 FOCUS ON
AEROSPACE
Jean -
Christophe FIGUEROA
President, Aerospace & Transportation |
 29
CONTINUOUS GROWTH AHEAD
35,280
20,930 –
59%
14,350 –
41%
5,960
Source: TEAL Group, & Boeing
THE HIGHEST BACKLOGS IN HISTORY
343
334
Airbus
Boeing
Backlog values mid 2013
[2013 $bn]
SUSTAINED DEMAND ENSURED FOR AT LEAST TWO DECADES |
 30
Deliveries of Airware intensive planes pick up in 2014
1,403
1,317
2015
2014
20
2013
2012
+8%
2017
2016
AIRWARE
®
Intensive Planes*
Other
2012-2017 Jet Airplanes deliveries *
1700
1580
1403
1317
1940
1820
Demand is driven by:
Replacement of aging fleets
Increasing global passenger air traffic (particularly in
emerging markets)
Focus on “lightweighting”
of aircraft (increased use of
aluminium in a wide spectrum of aeronautical
applications to increase fuel efficiency)
The aerospace industry is expected to benefit from a record
8+ years of backlog from Airbus and Boeing
Adequate available financing for new planes
Growth Drivers
Sources: Company Information; and Boeing and Airbus publicly available information
; Airline Monitor Feb 2014 * Includes Boeing, Airbus & BRJ ** Includes A350 & C-Series
Airplane order backlog (thousands)
20
80
130
160
STRONG AEROSPACE GROWTH TRENDS
Source: Airbus and Boeing publicly available information
|
 PRODUCT STRATEGY AT AIRBUS AND BOEING LARGELY FAVORING
ALUMINUM SHARE OVER OTHER MATERIALS
31
THE DERIVATIVES STRATEGY
Major OEMs Airbus and Boeing have opted for
derivatives of their successful models to quickly provide
more efficient aircrafts to airlines
Looking
for
fast
and
low-risk
R&D,
this
choice
locks the
material technology (aluminum vs. composites)
while
leaving
room
for
added-value
aluminum
alloys
“SINGLE-AISLE”
IS
A
HIGHLY
ALUMINUM
INTENSIVE SEGMENT
Single-aisle
represent
a
large
share
of
the
total
aircraft
production
Considering their high aluminum content (current and
derivatives), this translates into high aluminum volumes for many
years |
 THE
ALUMINUM INDUSTRY IS WELL POSITIONED TO RESPOND TO THE AEROSPACE
INDUSTRY’S NEEDS AND CHALLENGES ENABLING HIGH AIRCRAFT PRODUCTION
RATE The aluminum supply chain is perfectly suited to meet the
industry’s forecasted ramp-up
GLOBAL AND RELIABLE SOURCING
Manufacturing plants are spread throughout the world and close to the main
aerospace OEMs, in Europe and North America
EFFICIENT AIRCRAFT
The aluminum technologies have tremendously evolved from the ones that were used
decades ago. New alloys drive significant weight savings on aircraft
RECYCLABILITY
Unlimited
recycling
of
aluminum
makes
it
both
an
environmentally
friendly
solution
and
a
clever
way
to
have
a
closed
loop
supply
chain
over
the
lifecycle
of
aircraft
COST EFFICIENT PRODUCTION
Aluminum designs are the most cost-effective and most proven technologies for
mass industrialisation
32 |
 CONSTELLIUM IS A LEADER IN FLAT ROLLED PRODUCTS FOR AEROSPACE
33
KEY
LEADERSHIP
POSITIONS
Plates
Sheets
Tubes
Profiles
Bars
Billets
A COMPLETE OFFER FOR AIRCRAFT MANUFACTURING
Capability for extra thick plates to cover all machined applications
Sheet shop that enables very thin fuselage skins
A large panel of extruded products
No.1 world-wide in
Aerospace plate
No.1 in Europe in
Aerospace sheets
Source: Constellium internal |
 OUR MANUFACTURING
NETWORK IS LOCATED WHERE OUR CLIENTS NEED US 34
Two main customers
CONSTELLIUM AEROSPACE
Located in both Europe and North America
Close to main customers’
supply chain networks
Unique knowledge in serving a complex network of customers/Tier-1s and Tier-2s,
Developed a strong sales network in Asia
Constellium’s main Aerospace plants
Constellium’s Asian sales network |
 STRATEGY TO INCREASE PROFITS BASED ON STRONG DIFFERENTIATION
35
ENABLE
INDUSTRIAL
RAMP-UP
Investing in
AIRWARE
®
expansion
GAIN EFFICIENCY
& IMPROVE
SERVICE
Delivery
OTIF
Strong
patent
portfolio
50
partner
labs
worldwide
Focus sales on
Speciality alloys
More profit
per Ton
Propose
added-
value to
OEMs
STRENGTHEN
PROPRIETARY
SOLUTIONS
PORTFOLIO
OPTIMIZE
PRODUCT
MIX |
 AIRWARE
®
, A GAME CHANGER FOR AEROSTRUCTURES AND OUR BUSINESS MODEL
36
A FLYING SUCCESS
STORY
Our AIRWARE
®
solutions have already been selected
and fly on the following programs:
Bombardier
CSeries:
1
st
flight
in
September
2013
Airbus
A350:
1
st
flight
in
June
2013
CREATING VALUE
With AIRWARE
®
expected to take a greater space
in our product mix in the upcoming years, we will
increasingly generate
more value, both for our
customers and Constellium
INDUSTRIAL SET-UP
Constellium has invested in
the
1
st
industrial
scale
aluminum-lithium casthouse
The
1
st
casthouse
is now operating since 2012.
Two more casthouses to be
launched in 2015
World First
EXPANDING CAPACITY
AIRWARE w/o redesign
AIRWARE w/ redesign
BENEFITS FOR AIRCRAFTS
AIRWARE
®
technology delivers
weight savings for
aircraft efficiency
and improved
corrosion resistance
-5%
-25%
Weight reduction that
may be achieved |
 OUR
BUSINESS MODEL IS BUILT ON LONG TERM CONTRACTS 37
2009
2014
2012
Multi-year contract with Boeing
$2bn contract with Airbus for all its programs
MAJOR CONTRACTS
AIRWARE
®
selected by Airbus for the A350 XWB
AIRWARE
®
selected by Bombardier for its new CSeries
BUSINESS
VISIBILITY
90% of Constellium’s
aerospace business
is under contract
2010
2020 |
 KEY
TAKE AWAYS 1.
Aerospace market will show sustainable
growth in the long run
2.
Aluminum is the predominant material for
airframes
3.
Constellium is an aerospace technology
leader with a set of proprietary
technologies and unique and global
manufacturing capabilities
4.
AIRWARE®, Constellium’s latest
technology is a game changer for our
customers and our business model
5.
Our business is 90% is under contract, with the top players of the industry
38 |
 Questions & Answers
|
 Conclusion |
 FOUR SEASONS HOTEL |
 IFRS Statements |
 43
IFRS—BALANCE SHEET
Fourth Quarter 2013—Earnings Call
€
millions
December 31, 2013
December 31, 2012
Non-current assets
674
594
Current assets
1069
1037
Assets held for sale
21
Total Assets
1764
1631
€
millions
December 31, 2013
December 31, 2012
Equity
36
(37)
Non-current assets
970
923
Current assets
749
745
Liabilities held for sale
9
Total Liabilities
1764
1631 |
 44
IFRS—INCOME STATEMENT
Fourth Quarter 2013—Earnings Call
€
millions
Year ended
December 31, 2013
Year ended
December 31, 2012
Revenue
3495
3610
Income from operations
209
263
Other expenses
(27)
(3)
Finance costs—net
(50)
(60)
Share of profit (loss) of joint-ventures
3
(5)
Income before taxes
135
195
Income tax expense
(39)
(46)
Net income from continuing operations
96
149
Net Income (loss) from discontinued operations
4
(8)
Net Income
100
141 |
 Non-GAAP Measures
Reconciliations |
 46
NET DEBT
Fourth Quarter 2013—Earnings Call
€
millions
As December 31,
2013
As December 31,
2012
Borrowings
348
158
Fair value of cross
currency interest
swap
26
14
Cash and cash
equivalents
(233)
(142)
Cash pledged for
issuance of
guarantees
(9)
(13)
Net Debt
132
17 |
 47
ADJUSTED FREE CASH FLOW
Fourth Quarter 2013—Earnings Call
€
millions
Year Ended
December 31, 2013
Year Ended
December 31, 2012
Cash flow from
operating activities
184
246
Margin calls included
in cash flow from
operating activities
(4)
(7)
Cash flow from
operating activities
excluding margin calls
180
239
Capital expenditure
(144)
(126)
Adjusted Free
Cash Flow
36
113 |
 48
ADJUSTED EBITDA
Fourth Quarter 2013—Earnings Call
€
millions
Year ended
December 31, 2013
Year ended
December 31, 2012
Shipments
1025
1033
Revenue
3495
3610
Net Income from continuing operations
96
149
Income tax expense
39
46
Income before income tax
135
195
Finance costs—net
50
60
Other expenses/share of results of joint-ventures
24
8
Income from operations
209
263
Ravenswood OPEB plans amendment
(11)
(58)
Swiss pension plan settlement
-
8
Ravenswood CBA renegotiation
-
7
Restructuring costs
8
25
Losses on disposals
5
-
Unrealized (gains) on derivatives
(12)
(61)
Unrealized (gains) loss from the re-measurement of monetary assets and
liabilities (2)
1
Depreciation and impairment
32
14
Management
Adjusted EBITDA
229
199
Metal lag
29
16
Other
22
8
Adjusted EBITDA
280
223 |
 FOUR SEASONS HOTEL |