Form 6-K Constellium SE For: Feb 09

Notes to the Unaudited Interim Condensed Consolidated Financial Statements


Constellium is a global leader in the design and manufacture of a broad range of innovative specialty rolled and extruded aluminium products,
serving primarily the packaging, aerospace and automotive end-markets. The Group has a strategic footprint of manufacturing facilities located in North America, Europe and China and operates 28 production
facilities, 3 administrative centers and 3 R&D centers. The Group has approximately 12,000 employees.

Constellium SE, a French
Societas Europaea (SE), is the parent company of the Group. The business address (head office) of Constellium SE is Washington Plaza, 40-44 rue Washington, 75008 Paris, France.

Unless the context indicates otherwise, when we refer to “we”, “our”, “us”, “Constellium”, the
“Group” and the “Company” in this document, we are referring to Constellium SE and its subsidiaries.

NOTE 2 –

2.1 Statement of compliance

The Unaudited Interim Condensed Consolidated Financial Statements (the “Interim Financial Statements”) present the Unaudited Interim
Consolidated Income Statement, Statement of Comprehensive Income / (Loss) and Statement of Cash Flows for the nine months ended September 30, 2020 and 2019; and the Unaudited Interim Consolidated Statement of Financial Position and Changes in
Equity at September 30, 2020 and December 31, 2019. These financial statements have been prepared in accordance with IAS 34 – Interim Financial Reporting.

The Interim Financial Statements do not include all the information and disclosures required in the Consolidated Financial Statements and
should be read in conjunction with the Group’s Consolidated Financial Statements for the year ended December 31, 2019, which were authorized for issue by the Board of Directors on March 9, 2020.

These Interim Financial Statements were authorized for issue by management on October 26, 2020.

2.2 Basis of preparation

In accordance with IAS 1 – Presentation of Financial Statements, the Interim Financial Statements are prepared on the assumption that
Constellium is a going concern and will continue in operation for the foreseeable future.

The Group’s financial position, its cash
flows, liquidity position and borrowing facilities are described in the Unaudited Condensed Interim Consolidated Financial Statements in NOTE 10 – Cash and Cash Equivalent, NOTE 16 – Borrowings and NOTE 18 – Financial Risk Management.

The Group’s forecasts and projections, taking account of reasonably possible changes in trading performance, including an assessment of
the current macroeconomic environment, indicate that the Group should be able to operate within the level of its current facilities and related covenants. Management considers that this assumption is not invalidated by the Group’s negative
equity at September 30, 2020.

The accounting policies adopted in the preparation of the Interim Financial Statements are consistent
with those followed in the preparation of the Group’s Consolidated Financial Statements for the year ended December 31, 2019, except for the application of the effective tax rate in accordance with IAS 34 – Interim Financial

2.3 Application of new and revised IFRS

Several amendments and interpretations apply for the first time in 2020, but do not have any impact on the Interim Financial Statements of the
Group. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. The Group plans to adopt the new standards and interpretations on their required effective dates.



Source link

Add a Comment