CTT Systems

* 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...

OEM challenges delay ramp-up, again CTT continues to suffer from supply chain challenges at its customers. Q2 sales were in the middle of CTT's guidance (SEK 80m vs. 75-85m, +2% vs. ABGSCe) and grew 7% organically. However, despite the positive trend...

Q2 details Sales were 2% above our expectations, with 7% organic sales growth (ABGSCe +4%), which in turn was driven by better than expected aftermarket sales (-14% y-o-y vs. ABG -19%), as system sales did not grow as much as we had expected (although...

Getting ready for the OEM ramp-up Aircraft production + penetration to drive >10% AM growth 27-13x EBIT '25e-'27e (22x L10Y), 30-50% ROCE, net cash Increased production + higher penetration Today, we hosted CTT's CEO Henrik Höjer at ABGSC's Investor ...

Sales trough reached, return to EBIT growth in Q3e '25e-'27e EBIT down 29-13% on FX and system sales 26-12x EBIT '25e-'27e, ~30-50% ROCE, net cash Aftermarket normalisation completed already in Q1 As expected, CTT's Q1 saw a steep organic decline (-33...

In-line Q1 sales, solid Q2 guidance, steeper EBIT decline in Q1 2025e EBIT: tailwinds from higher deliveries, headwinds from mix+FX Return to earnings growth likely to happen first in Q3 Q1 details Sales were in-line with our expectations, with a 33%...