Aluminum processor Constellium said its third quarter earnings results increased 64 percent compared to last year due to higher shipments in aerospace and automotive products.
The Netherlands-based company reported earnings before interest, taxes, depreciation and amortization of 64 million euros, an increase of 25 million euros from the same quarter last year.
The company said the improved results were due to increased shipments compared to the third quarter of 2012, when production was limited during a nearly seven-week strike at the company's Ravenswood rolling mill.
The company said, before taxes and other items, it made 247 euros per metric ton produced during the quarter, up 94 euros, or 61 percent, from the per-ton earnings reported during the third quarter of 2012.
"As anticipated, we saw a much better performance in the reported quarter than we achieved in Q3 2012," Constellium CEO Pierre Vareille said. "And we believe the improved results across all our reporting segments demonstrate the strength of the company's business model and the progress that continues to be made in our cost and productivity initiatives.
"We remain confident based on our performance through Q3 2013 that we will deliver a strong year-over-year performance in 2013."For the nine months ended Sept.30, the company said its adjusted earnings were 221 million euros, up 22 percent or 40 million euros, from adjusted earnings during the first nine months of 2012.