Constellium said on Wednesday that it was optimistic about its outlook for fiscal 2024, despite continuing uncertainties on the macroeconomic and geopolitical fronts.

The aluminum specialist says it is aiming for adjusted operating profit (Ebitda) of 740 to 770 million euros this year, excluding the non-cash impact of metal price shifts.

By way of comparison, the group posted a 'record' adjusted Ebitda of 713 million euros in 2023, up 6%.

However, due to inflationary pressures and headwinds in several markets, full-year sales fell by 11% to 7.2 billion euros.

Net profit for the year came to 129 million euros, compared with a profit of 308 million euros in 2022.

The group, which forecasts free cash flow in excess of 130 million euros this year, says it remains confident in its ability to achieve adjusted Ebitda of over 800 million euros in 2025, excluding the non-cash impact of the metal price lag.

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