CTT Systems operates in the aerospace industry and focuses on the development and manufacture of systems for humidity and temperature control in aircraft. The company's products are aimed at aircraft operators and manufacturers. The operations are international and target customers globally. CTT Systems was founded in 1991 and is headquartered in Nyköping.
* 2026 now also clouded by uncertainty * '26e-'27e EBIT down 12-4%; ~60% EBIT CAGR '25-'28e * 20-11x EBIT '26e-'27e, ~25-40% ROCE, net cash Better OEM activity, uncertain flight traffic 2026 started well for CTT, with 41% organic growth (ABGSCe +29%)...
* Return to high organic growth (+41% vs. ABG +29%) * Middle Eastern conflict behind more cautious FY'26 outlook * Share +5% into numbers, trades at 20-11x EBIT '26e-'27e (pre-Q1) Q1 details Note that our latest published estimates are from February,...
* 2026 recovery after two challenging years * '26e-'27e EBIT down 35-24%; ~60% EBIT CAGR '25-'28e * 18-10x EBIT '26e-'27e, ~30-40% ROCE, net cash OEMs and flight data both support a return to growth We believe that Q4'25 marked the end of a challenging...
* Lower earnings due to FX and inventory adjustments * Q4 deviation and FX to negatively impact ABGSCe FY'26 EBIT * Share -17% into numbers, trades at 16-11x EBIT '26e-'27e (pre-Q4) Q4 details Note that our latest published estimates are from October...
* External headwinds delay earnings recovery until 2026e* '25e-'27e EBIT down 27-3%; 18% EBIT CAGR '24-'27e* 19-13x EBIT '26e-'27e, ~40-50% ROCE, net cash2025 to be a challenging year...The fact that the aerospace industry is gradually getting its supply...
* Sales in-line with CTT's guidance, EBIT below ABGSCe* Removed Q4 guidance due to increased short-term uncertainty* Improving activity from 2026, but potentially slow Q4 as wellQ3 detailsSales were 5% below our expectations, while the SEK 74m was in...
