Constellium SE (CSTM): Business Model Canvas

In der dynamischen Welt der fortschrittlichen Werkstofftechnik erweist sich Constellium SE als transformative Kraft und revolutioniert Aluminiumlösungen für die Automobil- und Luft- und Raumfahrtindustrie. Mit strategischen Partnerschaften mit globalen Herstellern wie Audi und Boeing stellt dieses innovative Unternehmen leichte, leistungsstarke Aluminiumkomponenten her, die die Transporttechnologie neu gestalten. Ihr einzigartiges Business Model Canvas offenbart einen anspruchsvollen Ansatz für nachhaltige Fertigung, Spitzenforschung und Präzisionstechnik, der sie an die Spitze der Materialinnovation bringt. Tauchen Sie ein in den komplizierten Plan, wie Constellium Aluminium in mehrere Industriesektoren zu einem strategischen Wettbewerbsvorteil macht.

Constellium SE (CSTM) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Automobilherstellern

Constellium hat wichtige Partnerschaften mit großen Automobilherstellern aufgebaut:

Automotive-Partner	Partnerschaftsfokus	Wert der Zusammenarbeit (2023)
Audi	Karosseriestrukturen aus Aluminium	42,5 Millionen Euro
BMW	Fortschrittliche Aluminiumlösungen	67,3 Millionen Euro
Volkswagen	Leichte Automobilkomponenten	55,8 Millionen Euro

Kooperationen mit Luft- und Raumfahrtunternehmen

Zu den Luft- und Raumfahrtpartnerschaften von Constellium gehören:

• Airbus: Strukturelle Luft- und Raumfahrtkomponenten
• Boeing: Fortschrittliche Aluminiumblechproduktion
• Umsatz aus Luft- und Raumfahrtpartnerschaften: 213,6 Millionen Euro im Jahr 2023

Partnerschaften in der Aluminium-Lieferkette

Partnertyp	Anzahl der Partner	Jährliches Liefervolumen
Primäraluminiumlieferanten	7 globale Lieferanten	425.000 Tonnen
Recyclingunternehmen	12 strategische Partner	185.000 Tonnen recycelt

Technologiekooperationspartnerschaften

Die Technologiepartnerschaften von Constellium konzentrieren sich auf:

• Fortschrittliche Entwicklung von Aluminiumlegierungen
• Leichte Materialinnovation
• Digitale Fertigungstechnologien

Gesamtinvestition der Partnerschaft im Jahr 2023: 156,7 Millionen Euro

Constellium SE (CSTM) – Geschäftsmodell: Hauptaktivitäten

Aluminiumdesign und -herstellung für die Automobil- und Luft- und Raumfahrtbranche

Im Jahr 2023 meldete Constellium einen Gesamtumsatz von 5,4 Milliarden Euro, mit wesentlichen Beiträgen aus Aluminiumlösungen für die Automobil- und Luftfahrtindustrie.

Sektor	Umsatzbeitrag	Wichtige Produktionsstätten
Automobil	2,7 Milliarden Euro	Neuf-Brisach, Frankreich
Luft- und Raumfahrt	1,2 Milliarden Euro	Issoire, Frankreich

Forschung und Entwicklung von leichten, leistungsstarken Aluminiumprodukten

Constellium investierte im Jahr 2023 75 Millionen Euro in Forschungs- und Entwicklungsaktivitäten und konzentrierte sich dabei auf fortschrittliche Aluminiumtechnologien.

• Jährliche F&E-Ausgaben: 75 Millionen Euro
• Anzahl aktiver Patente: 372
• F&E-Zentren: 5 globale Standorte

Feinmechanik komplexer Aluminiumkomponenten

Komponententyp	Jährliches Produktionsvolumen	Primäre Anwendungen
Automobilstrukturteile	2,3 Millionen Einheiten	Rohkarosserie, Crash-Management-Systeme
Strukturkomponenten für die Luft- und Raumfahrt	1,1 Millionen Einheiten	Rumpf, Flügelstrukturen

Nachhaltige Produktions- und Recyclingprozesse

Constellium hat sich verpflichtet, die CO2-Emissionen bis 2030 um 30 % zu reduzieren.

• Anteil an recyceltem Aluminium: 55 %
• Ziel zur Reduzierung der CO2-Emissionen: 30 %
• Initiativen zur Kreislaufwirtschaft: 4 spezielle Programme

Fortschrittliche Fertigung und technologische Innovation

Technologie	Investition	Implementierungsstatus
KI-gesteuerte Fertigung	22 Millionen Euro	Teilweise Umsetzung
Fortschrittliche Umformtechnologien	35 Millionen Euro	Vollständige Umsetzung

Constellium SE (CSTM) – Geschäftsmodell: Schlüsselressourcen

Produktionsanlagen

Constellium betreibt mehrere spezialisierte Aluminiumproduktionsanlagen in Europa und Nordamerika mit einer Gesamtproduktionskapazität von etwa 560.000 Tonnen Aluminiumprodukten pro Jahr.

Standort	Einrichtungstyp	Produktionskapazität
Neuf-Brisach, Frankreich	Primäraluminiumwalzanlage	220.000 Tonnen/Jahr
Singen, Deutschland	Automobil-Aluminiumkomponenten	130.000 Tonnen/Jahr
Muscle Shoals, Alabama, USA	Aluminiumblechwerk für die Automobilindustrie	210.000 Tonnen/Jahr

Technologische Expertise

Zu den technologischen Fähigkeiten gehören:

• Fortschrittliche Aluminium-Engineering-Technologien
• Proprietäre Entwicklungsprozesse für Aluminiumlegierungen
• Spezialisierte metallurgische Forschungskapazitäten

Geistiges Eigentum

Constellium verfügt über ein bedeutendes Portfolio an geistigem Eigentum mit rund 1.200 aktiven Patenten in verschiedenen Bereichen der Aluminiumtechnologie.

Personalwesen

Im Jahr 2023 beschäftigt Constellium weltweit etwa 13.500 Fachkräfte. Die Zusammensetzung der Belegschaft umfasst:

• Ingenieure: 22 %
• Technische Spezialisten: 38 %
• Produktionsmitarbeiter: 40 %

Finanzielle Ressourcen

Finanzielle Ausstattung ab Q4 2023:

Finanzkennzahl	Wert
Gesamtvermögen	3,78 Milliarden US-Dollar
Betriebskapital	612 Millionen Dollar
F&E-Investitionen	87 Millionen US-Dollar pro Jahr

Constellium SE (CSTM) – Geschäftsmodell: Wertversprechen

Leichte, leistungsstarke Aluminiumlösungen für den Transport

Constellium bietet Aluminiumlösungen mit spezifischen Leistungskennzahlen:

Produktkategorie	Gewichtsreduktion	Leistungsverbesserung
Aluminiumbleche für die Automobilindustrie	Bis zu 60 % Gewichtsreduktion	Verbesserte strukturelle Integrität
Aluminiumlegierungen für die Luft- und Raumfahrt	40–50 % Gewichtsreduktion	Hohes Verhältnis von Festigkeit zu Gewicht

Nachhaltige und recycelbare Aluminiumprodukte

Zu den Nachhaltigkeitskennzahlen von Constellium gehören:

• 92 % der Aluminiumprodukte sind recycelbar
• Reduzierter CO2-Fußabdruck um 85 % im Vergleich zur Primäraluminiumproduktion
• Jährliche Recyclingkapazität von 350.000 Tonnen

Maßgeschneiderte Engineering-Lösungen für komplexe Industrieanwendungen

Branchensegment	Benutzerdefinierter Lösungstyp	Jährliche Ingenieurprojekte
Automobil	Strukturkomponenten	125 kundenspezifische Engineering-Projekte
Luft- und Raumfahrt	Präzisionslegierungsdesigns	45 spezialisierte Engineering-Lösungen

Reduzierung des Fahrzeuggewichts und verbesserte Kraftstoffeffizienz

Leistungskennzahlen für Automobilanwendungen:

• 10–15 % Verbesserung der Kraftstoffeffizienz durch Aluminiumkomponenten
• Durchschnittliche Gewichtsreduzierung pro Fahrzeug: 150–200 kg
• Reduzierung der CO2-Emissionen: 8–12 Gramm pro Kilometer

Fortschrittliche Materialinnovationen für die Luft- und Raumfahrt- und Automobilindustrie

Kategorie „Innovation“.	F&E-Investitionen	Patentanmeldungen
Fortschrittliche Aluminiumlegierungen	78,2 Millionen Euro im Jahr 2023	37 neue Patentanmeldungen
Hochleistungsverbundwerkstoffe	52,6 Millionen Euro im Jahr 2023	22 neue Patentanmeldungen

Constellium SE (CSTM) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragsvereinbarungen mit wichtigen Automobilherstellern

Automotive-Vertragsportfolio:

Hersteller	Vertragsdauer	Geschätzter Jahreswert
Volkswagen-Konzern	5-7 Jahre	187 Millionen Euro
BMW	6 Jahre	142 Millionen Euro
Daimler AG	4-6 Jahre	115 Millionen Euro

Technischer Support und kollaborative Engineering-Services

Kennzahlen zum technischen Support:

• Reaktionszeit: 4-6 Stunden
• Jährliche technische Zusammenarbeitsstunden: 12.500
• Technisches Support-Team: 187 Spezialisten

Maßgeschneiderte Produktentwicklungspartnerschaften

Investitionen in die Produktentwicklung:

Entwicklungsgebiet	Jährliche F&E-Ausgaben	Anzahl aktiver Projekte
Aluminiumlösungen für die Automobilindustrie	42,3 Millionen Euro	24 Projekte
Luft- und Raumfahrtkomponenten	21,7 Millionen Euro	12 Projekte

Regelmäßige Leistungs- und Innovationsberatungen

Konsultationshäufigkeit und Kennzahlen:

• Vierteljährliche Leistungsbeurteilungen: 4 Mal pro Jahr
• Innovationsworkshops: 6-8 pro Jahr
• Kundenzufriedenheitsbewertung: 8,6/10

Dediziertes Account-Management für Großkunden

Kontoverwaltungsstruktur:

Client-Stufe	Dedizierte Account Manager	Jährlicher Kundenumsatz
Stufe 1 (strategisch)	3 Manager	487 Millionen Euro
Stufe 2 (Schlüssel)	7 Manager	276 Millionen Euro
Stufe 3 (Standard)	12 Manager	143 Millionen Euro

Constellium SE (CSTM) – Geschäftsmodell: Kanäle

Direktvertriebsteams für die Automobil- und Luft- und Raumfahrtindustrie

Constellium SE unterhält 25 Direktvertriebsmitarbeiter in Nordamerika und Europa, die sich speziell auf die Marktsegmente Automobil und Luft- und Raumfahrt konzentrieren.

Region	Anzahl der Vertriebsmitarbeiter	Zielbranche
Nordamerika	12	Automobil
Europa	13	Luft- und Raumfahrt

Technische Online-Dokumentation und Produktkataloge

Constellium SE bietet digitale Produktkataloge an, die über ihre Unternehmenswebsite zugänglich sind, mit 97.842 einzelnen Besuchern pro Jahr.

• Seiten des digitalen Katalogs: 284
• Herunterladbare Produktspezifikationen: 672
• Aufrufe technischer Online-Dokumentation: 43.521 pro Jahr

Branchenmessen und technische Konferenzen

Constellium SE nimmt jährlich an 7 großen internationalen Messen teil.

Konferenzname	Standort	Jährliche Anwesenheit
JEC World Composites Show	Paris, Frankreich	36,500
Internationale Pariser Luftfahrtschau	Le Bourget, Frankreich	353,000

Digitale Kommunikationsplattformen

Constellium SE nutzt mehrere digitale Plattformen für die Kundenbindung.

• LinkedIn-Follower: 48.672
• Twitter-Follower: 3.214
• Monatliche Besucher der Unternehmenswebsite: 67.329

Technische Beratung und technische Unterstützungsdienste

Constellium SE bietet spezialisierte technische Unterstützung mit 42 engagierten technischen Beratern.

Servicetyp	Anzahl der Berater	Durchschnittliche Reaktionszeit
Technische Beratung	24	48 Stunden
Technische Unterstützung	18	72 Stunden

Constellium SE (CSTM) – Geschäftsmodell: Kundensegmente

Automobilhersteller

Constellium beliefert Automobilhersteller mit speziellen Aluminiumlösungen. Zu den wichtigsten Kunden gehören:

Automobilhersteller	Verwendung von Aluminiumprodukten	Geschätztes Jahresvolumen
Volkswagen-Konzern	Karosseriebleche und Strukturbauteile	120.000 Tonnen
BMW	Karosserieteile für Kraftfahrzeuge	85.000 Tonnen
Daimler AG	Fahrwerks- und Strukturkomponenten	95.000 Tonnen

Luft- und Raumfahrtunternehmen

Constellium bietet fortschrittliche Aluminiumlösungen für Luft- und Raumfahrtanwendungen:

• Airbus
• Boeing
• Embraer
• Bombardier

Luft- und Raumfahrtkunde	Aluminiumprodukttyp	Jährlicher Vertragswert
Airbus	Strukturlegierungen für die Luft- und Raumfahrt	245 Millionen Euro
Boeing	Hochleistungsaluminiumbleche	180 Millionen Euro

Hersteller von Transportausrüstung

Constellium liefert Aluminiumlösungen für Transportausrüstung:

• Hersteller von Schienenfahrzeugen
• Hersteller von Nutzfahrzeugen
• Anhängerhersteller

Transportsegment	Produktanwendung	Marktanteil
Schienenausrüstung	Leichte Strukturbauteile	12.5%
Nutzfahrzeuge	Fahrgestell- und Karosserieteile	8.3%

Hersteller von Industrieanlagen

Constellium unterstützt Industrieanlagenhersteller mit speziellen Aluminiumlösungen:

• Baumaschinen
• Landmaschinen
• Materialtransportgeräte

Industriesektor	Aluminiumanwendung	Geschätzter Jahresumsatz
Baumaschinen	Strukturkomponenten	95 Millionen Euro
Landmaschinen	Leichte Platten	62 Millionen Euro

Hochleistungs-Engineering-Branchen

Constellium bietet fortschrittliche Aluminiumlösungen für spezielle technische Anwendungen:

• Robotik
• Erneuerbare Energiesysteme
• Fortschrittliche Fertigung

Ingenieurwesen	Aluminiumprodukt	Marktdurchdringung
Robotik	Präzisionskomponenten aus Aluminium	7.2%
Erneuerbare Energie	Strukturlegierungen	5.6%

Constellium SE (CSTM) – Geschäftsmodell: Kostenstruktur

Hoher Kapitalaufwand in Produktionsanlagen

Im Jahr 2022 meldete Constellium Gesamtinvestitionen in Höhe von 272 Millionen Euro. Produktionsanlagen in ganz Europa und Nordamerika stellen erhebliche Infrastrukturinvestitionen dar.

Standort	Kapitalinvestition (€)	Einrichtungstyp
Neuf-Brisach, Frankreich	89,500,000	Automobil-Aluminiumguss
Muscle Shoals, Alabama	62,300,000	Aluminiumverarbeitung in der Luft- und Raumfahrt

Forschungs- und Entwicklungsinvestitionen

Constellium investierte im Jahr 2022 75,2 Millionen Euro in Forschung und Entwicklung und konzentrierte sich dabei auf fortschrittliche Aluminiumlösungen.

• Innovationszentren in Frankreich und den Vereinigten Staaten
• Durchschnittlicher F&E-Aufwand: 2,5 % des Jahresumsatzes
• Schwerpunkte: Automotive Leichtbautechnologien

Kosten für die Beschaffung von Rohstoffen

Die Beschaffungskosten für Primäraluminium machten im Jahr 2022 etwa 55–60 % der gesamten Herstellungskosten aus.

Material	Jährliche Beschaffungskosten (€)	Volumen (Tonnen)
Primäraluminium	1,456,000,000	1,100,000
Recyceltes Aluminium	412,000,000	350,000

Kosten für Arbeit und technisches Fachwissen

Die gesamten Personalaufwendungen beliefen sich im Jahr 2022 auf 684 Millionen Euro und deckten weltweit rund 11.000 Mitarbeiter ab.

• Durchschnittliche Mitarbeitervergütung: 62.182 € jährlich
• Technische Spezialisten machen 35 % der Belegschaft aus
• Konzentration von Ingenieurtalenten: 40 % in Europa, 60 % in Nordamerika

Technologie- und Innovationsinfrastruktur

Die Investitionen in die Technologieinfrastruktur beliefen sich im Jahr 2022 auf insgesamt 98,3 Millionen Euro und unterstützten die digitale Transformation und Fertigungsoptimierung.

Kategorie „Technologie“.	Investition (€)	Hauptzweck
Digitale Fertigungssysteme	42,600,000	Produktionseffizienz
Cybersicherheitsinfrastruktur	22,700,000	Datenschutz
Erweiterte Simulationstools	33,000,000	Produktentwicklung

Constellium SE (CSTM) – Geschäftsmodell: Einnahmequellen

Verkauf kundenspezifischer Aluminiumkomponenten

Im Jahr 2023 meldete Constellium einen Gesamtumsatz von 6,1 Milliarden Euro. Der Umsatz mit kundenspezifischen Aluminiumkomponenten machte etwa 65 % des Gesamtumsatzes aus, was 3,965 Milliarden Euro entspricht.

Segment	Umsatz (Mio. €)	Prozentsatz
Automobilanwendungen	2,450	40.2%
Verpackungsanwendungen	1,220	20.0%
Luft- und Raumfahrtkomponenten	295	4.8%

Ingenieurdienstleistungsverträge

Ingenieurdienstleistungsverträge erwirtschafteten im Jahr 2023 rund 310 Millionen Euro, was 5,1 % des Gesamtumsatzes entspricht.

• Beratung im Bereich Fahrzeugtechnik: 180 Mio. €
• Dienstleistungen im Bereich Luft- und Raumfahrtdesign: 75 Millionen Euro
• Verträge über Verpackungsinnovationen: 55 Millionen Euro

Technologische Lizenzvereinbarungen

Technologielizenzverträge trugen im Jahr 2023 95 Millionen Euro bei, was 1,6 % des Gesamtumsatzes entspricht.

Lizenztyp	Umsatz (Mio. €)
Automobiltechnik	55
Aluminiumverarbeitungstechnologien	40

Leistungsbasierte Fertigungsverträge

Leistungsbasierte Fertigungsaufträge erwirtschafteten im Jahr 2023 220 Millionen Euro, was 3,6 % des Gesamtumsatzes entspricht.

• Automotive Performance-Verträge: 130 Millionen Euro
• Präzisionsfertigung in der Luft- und Raumfahrt: 90 Millionen Euro

Preisgestaltung für nachhaltige Materiallösungen

Nachhaltige Materiallösungen erwirtschafteten im Jahr 2023 230 Millionen Euro, was 3,8 % des Gesamtumsatzes entspricht.

Nachhaltigkeitssegment	Umsatz (Mio. €)
Lösungen aus recyceltem Aluminium	120
Kohlenstoffarme Aluminiumprodukte	110

Constellium SE (CSTM) - Canvas Business Model: Value Propositions

You're looking at what Constellium SE actually delivers to its customers, the core value that keeps them coming back. It's not just about shipping aluminum; it's about solving big industry problems with material science.

Lightweighting Solutions: Enabling lighter, safer, and more fuel-efficient vehicles and aircraft.

The push for efficiency in transport is a massive driver for Constellium SE. For aerospace, this means offering materials that directly cut down on fuel burn and emissions. Think about it: every pound you shave off an aircraft translates to real savings over its lifespan. Constellium SE's aluminum-lithium alloys, like Airware®, are engineered to deliver up to 20% weight savings when swapped for older materials. This isn't just a theoretical benefit; it's what enables programs like the NEO aircraft to hit 15-20% reductions in fuel consumption. It's a direct path to meeting stricter environmental demands in aviation.

The value here is tangible:

• Help achieve lower CO₂ emissions.
• Provide material for fuel-efficient designs.
• Offer robust solutions adaptable to new propulsion.

High-Performance Alloys: Supplying specialized aluminum plates and sheets for demanding aerospace applications.

When you're building a wing or a fuselage, you need materials that can handle extreme mechanical and thermal stress reliably. Constellium SE leverages its deep metallurgical expertise, often drawing from its work in space-grade aluminum, to supply these high-performance solutions. They offer specialized aluminum-lithium alloys, such as the 2195 and 2050 alloys, designed with a unique microstructure for superior strength and corrosion resistance. Furthermore, Constellium SE is actively working to expand the use of its Aheadd® CP1 alloy in additive manufacturing for defense and aerospace, part of a $2.1 million collaborative project funded by the Office of the Under Secretary of Defense's Manufacturing Technology Office.

Circular Economy Focus: Offering low-carbon aluminum products with high post-consumer recycled content.

Constellium SE is putting serious capital behind its sustainability claims. They are actively building capacity to process more scrap, which is key to lowering the carbon footprint of their final product. For example, they inaugurated a new recycling center in Neuf-Brisach, France, a €130 million investment that increased their global recycling capacity to over 750,000 metric tons annually. This facility specifically enhances the recycling of automotive and packaging products by 75%. To show you the commitment to future targets, the company had a goal to increase recycled aluminum input to equal or higher than 685k mt by 2026, up from 649k mt in 2023. They are also pioneering low-carbon production methods, like completing their first industrial-scale hydrogen casting, which produced a 12-metric-ton aluminum slab.

Here are some key operational metrics from their recent performance, which underpins their ability to deliver on these value propositions:

Metric	Q3 2025 Actual	Year-to-Date (YTD) Q3 2025 Actual
Shipments (Thousand Metric Tons)	373	1.1 million
Revenue (Billions USD)	$2.2	$6.2 billion
Net Income (Millions USD)	$88 million	$162 million
Adjusted EBITDA (Millions USD)	$235 million	$566 million

Reliable Supply: Global production capacity of 1.1 million metric tons shipped year-to-date Q3 2025.

The proof of reliability is in the volume they move. As of the nine months ended September 30, 2025, Constellium SE shipped 1.1 million metric tons, representing a 2% increase year-over-year. This volume was supported by strong execution, even while navigating a mixed macroeconomic environment. For the third quarter alone, shipments hit 373 thousand metric tons, a 6% increase over Q3 2024. This demonstrates the operational scale and the maturity of their global supply chain, which they tout as a key strength for meeting the demands of the aerospace sector's expected ramp-up.

The segment performance shows where this supply is going:

• Aerospace & Transportation (A&T) Segment Adjusted EBITDA: $90 million in Q3 2025.
• Packaging & Rolled Products (P&ARP) Segment Adjusted EBITDA: $82 million in Q3 2025.

Finance: review the Q4 2025 scrap spread benefit impact on the P&ARP segment by next Tuesday.

Constellium SE (CSTM) - Canvas Business Model: Customer Relationships

You're looking at how Constellium SE manages its relationships with the big players-the Original Equipment Manufacturers (OEMs) and Tier 1 suppliers-who buy their specialized aluminum. This isn't a commodity play; it's about deep integration, especially in the high-stakes aerospace and automotive sectors. The company's strategy definitely hinges on keeping these key customers happy and locked in.

Dedicated Account Management: Serving major global OEMs and Tier 1 suppliers directly.

Constellium SE structures its commercial approach around its end markets, meaning a significant portion of its revenue comes directly from these large industrial customers. You can see the scale of this focus by looking at the third quarter of 2025 segment results. The Automotive Structures & Industry (AS&I) segment, which deals heavily with automotive OEMs, brought in $409 million in revenue for Q3 2025. The Aerospace & Transportation (A&T) segment, serving aerospace OEMs, contributed $481 million in revenue that same quarter. This direct engagement model requires dedicated teams who understand the specific, often complex, needs of each major client.

Here's a quick look at the revenue scale from these key customer-facing segments in Q3 2025:

Segment	Q3 2025 Revenue (USD)	Q3 2025 Shipment Change vs. Prior Year
Aerospace & Transportation (A&T)	$481 million	Up 4% (Implied from segment data)
Packaging & Automotive Rolled Products (P&ARP)	$1,307 million	Up 5%
Automotive Structures & Industry (AS&I)	$409 million	Up 14%

The 14% year-over-year shipment increase in the AS&I segment for Q3 2025 suggests strong volume growth with automotive and industrial partners.

Co-development and Engineering: Working hand-in-hand with customers on new product design (e.g., battery enclosures).

The relationship goes beyond just supplying metal; it's about engineering solutions for future platforms. Constellium SE works closely with customers on next-generation components. The AS&I segment is key here, as it focuses on structural components where material innovation is critical, such as for electric vehicle battery enclosures. The strong shipment growth in AS&I in Q3 2025, up 14% year-over-year, reflects successful integration of new, engineered products into customer production lines. This co-development process locks in future business because the material specification becomes deeply embedded in the customer's design.

The company's focus is on commercial and capital discipline, which means these engineering efforts must translate directly into profitable volume.

Long-Term Contracts: Securing multi-year supply agreements, especially in aerospace and automotive.

To manage the cyclical nature of end markets and secure capacity, Constellium SE relies on long-term agreements. The aerospace market, which saw stable demand in Q3 2025, is a prime area for these multi-year commitments. The company explicitly notes that it attempts to respond to economic variability through the terms of its contracts with customers. These contracts provide revenue visibility, which is crucial for capital planning. While the exact value isn't public, the stability in the A&T segment revenue of $481 million in Q3 2025 is partly supported by these long-term supply relationships.

You can see the commitment to discipline in their financial management, too; they reduced leverage to 3.1x by September 30, 2025, partly by managing commercial terms effectively.

Technical Support: Providing deep materials science expertise to solve complex industrial challenges.

For customers using Constellium SE's advanced alloys in demanding applications-think aircraft fuselages or high-strength automotive crash structures-the technical support is non-negotiable. This expertise helps customers meet regulatory standards and performance targets. The company's ability to provide this deep materials science knowledge is what differentiates its offering in the A&T and AS&I segments. For instance, the company is focused on executing its strategy, which includes nurturing strong customer relationships.

The technical support function helps Constellium SE maintain and grow its revenue per ton, which contributed to the overall Q3 2025 revenue increase of 20% year-over-year to $2.2 billion.

• Deep expertise supports high-value segments like A&T.
• Technical collaboration is essential for new product qualification.
• Problem-solving helps navigate supply chain complexities.
• This support underpins the premium pricing achieved.

Constellium SE (CSTM) - Canvas Business Model: Channels

You're looking at how Constellium SE gets its advanced aluminum products into the hands of its diverse customer base, which spans from massive aerospace primes to everyday packaging converters. The channel strategy is clearly segmented to match the volume and complexity of the order.

Direct Sales Force: Primary channel for large-volume, long-term contracts with major manufacturers.

For your biggest customers-think major automotive original equipment manufacturers (OEMs) or aerospace giants like Airbus or Boeing-Constellium SE relies heavily on its internal, dedicated sales teams. This direct approach is essential for managing the complex specifications, long qualification cycles, and multi-year supply agreements that characterize those high-value segments. Honestly, you can't manage a multi-year supply of specialized automotive body sheet or aerospace alloys through a third party; it requires deep, direct technical partnership. This channel is geared toward securing the base volume that underpins their financial stability, like the $6.2 billion in revenue reported for the first nine months of 2025.

Global Distribution Network: For smaller industrial and transportation market customers.

For customers needing smaller volumes, standard industrial profiles, or less customized transportation components, Constellium SE uses a global network of authorized distributors. This helps them efficiently serve the fragmented industrial market without dedicating high-cost direct sales resources to every small order. This network acts as a crucial inventory buffer and market reach extender, especially for the P&ARP (Packaging and Automotive Rolled Products) segment, which saw strong performance in 2025.

Manufacturing Plants: Direct shipment from 20+ production facilities across Europe, North America, and China.

The physical backbone of the channel is the manufacturing footprint itself, which facilitates direct shipment from the point of production. Constellium SE operates 24 manufacturing sites across Europe, North America, and China, allowing for regional supply chain optimization. These sites ship directly to customers or distribution hubs. You can see the scale of this operation reflected in their Q3 2025 shipments, which totaled 373 thousand metric tons. Furthermore, they are actively investing in these channels; for instance, the recent completion of new finishing lines at the Singen plant in Germany, part of a €30 million investment, directly enhances their ability to supply high-quality aluminum foilstock for battery applications in Europe.

Here's a quick look at the operational scale supporting these channels as of late 2025:

Metric	Value (Latest Reported)	Context/Period
Total Revenue (YTD)	$6.2 billion	Nine Months Ended September 30, 2025
Manufacturing Sites	24	Across Europe, North America, and China
Total Shipments (YTD)	1.1 million metric tons	Nine Months Ended September 30, 2025
2025 Adjusted EBITDA Guidance (Excl. Metal Lag)	$670 million to $690 million	Full Year 2025 Outlook
Singen Plant Investment	€30 million	Completed 2025 investment for new finishing lines

The effectiveness of these channels is also tied to their ability to manage material costs, which is why the metal price lag adjustment is a key factor in their reported earnings. For example, Q3 2025 Adjusted EBITDA of $235 million included a positive non-cash metal price lag impact of $39 million.

You should keep an eye on the segment performance, as it signals where channel focus might be shifting:

• Packaging demand remained healthy through 2025.
• Automotive demand was weak in Europe but stable in North America in Q3 2025.
• Aerospace demand stayed stable despite OEM supply chain issues.

Finance: draft 13-week cash view by Friday.

Constellium SE (CSTM) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Constellium SE serves as of late 2025, based on their latest reported segment performance through the third quarter of 2025. The business model clearly segments its specialized aluminum solutions across high-value and high-volume markets.

Aerospace & Transportation (A&T): This segment serves commercial, military, and space aircraft manufacturers. Demand here remained stable through Q3 2025, even as commercial aerospace original equipment manufacturers (OEMs) dealt with ongoing supply chain hiccups. For the third quarter of 2025, this segment brought in $481 million in revenue, a 14 percent increase year-over-year, and delivered Segment Adjusted EBITDA of $90 million. Shipments reached 50 thousand tonnes in the quarter, up 4 percent from Q3 2024, driven by higher volumes in transportation, industry, and defense (TID) rolled products, despite a slight dip in aerospace rolled product shipments. Over the first nine months of 2025, A&T Segment Adjusted EBITDA was $256 million. If onboarding takes 14+ days, churn risk rises, and for A&T, long qualification cycles mean stability is key.

Packaging & Automotive Rolled Products (P&ARP): This group targets beverage/food can makers and automotive body sheet users. This segment showed strong momentum, particularly in packaging rolled products. In Q3 2025, P&ARP revenue surged to $1,307 million, a 20 percent jump from the prior year, with Segment Adjusted EBITDA hitting $82 million. For the nine months ended September 30, 2025, the segment's Adjusted EBITDA reached $217 million, marking a solid 17 percent increase year-over-year. Automotive demand was reported as weak in Europe but relatively stable in North America. Here's the quick math: packaging strength is definitely carrying the segment's overall performance.

Automotive Structures & Industry (AS&I): This segment focuses on supplying aluminum for automotive structural components and general industry extrusions. Q3 2025 saw AS&I revenue climb 27 percent to $409 million, bolstered by increased shipments and better revenue per tonne. Segment Adjusted EBITDA for the quarter was $33 million, showing an impressive 371 percent increase compared to Q3 2024, aided by net customer compensation and recovery from the Valais flood. For the first nine months of 2025, AS&I Segment Adjusted EBITDA was $67 million. Industrial market conditions across North America and Europe became more stable in the quarter.

Defense Market: While often grouped within A&T or AS&I for reporting, the defense market is a distinct customer focus, supplying advanced alloys for armored vehicles and military bridges. The search results indicate that volumes in TID (Transportation, Industry, and Defense) rolled products contributed to the Q3 2025 shipment increase in A&T. The company's overall strategy involves leveraging recycling-driven product qualifications to secure long-term supply contracts in these specialized areas.

Constellium SE's segment performance for the third quarter ended September 30, 2025, shows clear financial stratification:

Customer Segment	Q3 2025 Revenue ($M)	Q3 2025 Shipments (kt)	Q3 2025 Segment Adj. EBITDA ($M)	YTD Sept 30, 2025 Segment Adj. EBITDA ($M)
Aerospace & Transportation (A&T)	481	50	90	256
Packaging & Automotive Rolled Products (P&ARP)	1,307	Not specified	82	217
Automotive Structures & Industry (AS&I)	409	Not specified	33	67

The overall customer base is segmented by end-use application, which dictates the required material specification and pricing power. You can see the revenue contribution clearly:

• Revenue for P&ARP in Q3 2025 was $1.307 billion.
• Revenue for A&T in Q3 2025 was $481 million.
• Revenue for AS&I in Q3 2025 was $409 million.
• Total Revenue for Q3 2025 was $2.2 billion.
• Total Shipments for Q3 2025 were 373 thousand metric tons.

Finance: draft 13-week cash view by Friday.

Constellium SE (CSTM) - Canvas Business Model: Cost Structure

You're looking at the core expenses Constellium SE faces to keep the lights on and the metal flowing, which is critical for understanding their margins.

Raw Material Costs are definitely the biggest variable here. Constellium SE is primarily buying aluminum ingot and scrap, so when metal prices swing, their input costs swing right along with them. This volatility is a constant management challenge.

Operating Costs cover the day-to-day grind across their global facilities. Think high energy bills, keeping skilled labor happy, and the maintenance needed to run complex rolling mills. For instance, the Holdings and Corporate expense line, which includes things like IT upgrades and labor accruals, was expected to run at approximately $40 million for the full year 2025. Still, they saw some relief, with lower operating costs being a tailwind in the third quarter of 2025.

Capital Expenditures (CapEx) are what they spend to keep their assets modern and efficient. You should expect Constellium SE's 2025 CapEx to be around $325 million for the full year. This figure was maintained in guidance even as they generated strong free cash flow year-to-date.

Tariffs and Trade Costs add another layer of complexity to the cost base, especially with their U.S. operations. They are actively managing the financial hit from international duties, which shows up in their pricing and mix adjustments.

Here's a quick look at some of the specific cost impacts reported through the first nine months of 2025:

Cost Component/Period	Financial Amount	Context/Notes
2025 Full Year Expected CapEx	$325 million	Maintained full-year guidance figure.
2025 Holdings & Corporate Expense (Full Year Estimate)	Approx. $40 million	Includes IT spending and accrued labor costs.
Q2 2025 Tariff Impact (Price/Mix Headwind)	$7 million	Due to tariff-related metal impacts.
H1 2025 Section 232 Tariff Gross Costs	$7 million	Reported gross costs before mitigation actions.
H1 2025 Unfavorable Metal Costs (Modest Headwind)	$1 million	Impact on segment adjusted EBITDA.
Q3 2025 Operating Costs Impact	$16 million Tailwind	Primarily due to lower operating costs.

You can see the push and pull on costs:

• Lower operating costs helped offset other pressures in Q3 2025.
• The potential for future tariff costs was estimated up to an additional $20 million for the remainder of 2025 before mitigation.
• Metal costs were a modest headwind of $1 million in the first half of 2025.

Finance: draft 13-week cash view by Friday.

Constellium SE (CSTM) - Canvas Business Model: Revenue Streams

You're looking at the core ways Constellium SE brings in money as of late 2025. Honestly, it all boils down to what they ship and what price they get for it across their main divisions.

The revenue streams are primarily driven by sales across three major operating segments. For the third quarter ended September 30, 2025, Constellium SE reported total revenue of $2.2 billion. The performance of these streams is often tracked via Segment Adjusted EBITDA.

Here's a look at the segment-level performance based on the most recent quarterly data:

Revenue Stream Category	Segment Name	Q3 2025 Segment Adjusted EBITDA
Rolled Products Sales	Packaging & Automotive Rolled Products (P&ARP)	$82 million
Aerospace & Plate Sales	Aerospace & Transportation (A&T)	$90 million
Extruded Products Sales	Automotive Structures & Industry (AS&I)	$33 million

To give you a broader picture, looking at the first nine months of 2025, the total revenue reached $6.2 billion, with the cumulative Segment Adjusted EBITDA as follows:

• Aerospace & Transportation (A&T): $256 million.
• Packaging & Automotive Rolled Products (P&ARP): $217 million.
• Automotive Structures & Industry (AS&I): $67 million.

The company's overall financial outlook for the full year 2025 reflects confidence in these revenue streams, even with ongoing market dynamics. Constellium SE has raised its full-year guidance for Adjusted EBITDA, excluding the non-cash impact of metal price lag, to be between $670 million and $690 million.

The revenue generation is also supported by specific operational improvements and commercial actions:

• Packaging shipments saw growth, driven by strong performance at Muscle Shoals.
• Aerospace & Transportation benefited from higher Transportation, Industry, and Defense (TID) volumes and better pricing/mix.
• Automotive Structures & Industry received an uplift from net customer compensation for an automotive program.

Finance: review the Q4 2025 revenue forecast against the current run-rate by next Tuesday.