Shares of Constellium NV (CSTM) surged 20.84% in pre-market trading on Thursday as the aluminum products manufacturer reported mixed fourth quarter and full year 2024 results but announced promising new long-term targets.

For Q4 2024, Constellium posted revenue of $1.72 billion, down 1% year-over-year, and a net loss of $47 million compared to a net income of $5 million in Q4 2023. However, the company's Adjusted EBITDA was $125 million, including a negative $15 million impact from severe flooding at its facilities in Switzerland's Valais region.

Despite the challenges faced in 2024, Constellium is optimistic about its future outlook. The company expects Adjusted EBITDA to be in the range of $600 million to $630 million and Free Cash Flow exceeding $120 million in 2025. Furthermore, Constellium has set new long-term targets for 2028, aiming for Adjusted EBITDA of $900 million and Free Cash Flow of $300 million.