Analyser av CTT Systems

CTT Systems: Delayed flight - ABG

- OEM and AM challenges to normalise in Q1'25e - '24e-'26e EBIT down 18-3%; 20% CAGR '23-'26e - 30-15x EBIT '24e-'26e, ~30-55% ROCE, net cas...

ABG Sundal Collier • 28 Oct 08:21

CTT Systems: 2025 outlook remains firm, but dependent on OEMs - ABG

- Q3 pre-announced, outlook encouraging but dependent on OEMs - Consensus could lower '24e-'25e EBIT by 10-15% - Share already reacted to pr...

ABG Sundal Collier • 25 Oct 12:00

CTT Systems: Profit warning due to lower AM sales in Q3 - ABG

Temporary inventory adjustments, unchanged Q4 guidance Q3 PW impacts FY'24 EBIT by 15%, risk remains into 2025 31x EBIT '24e (adjusting for ...

ABG Sundal Collier • 21 Oct 09:17

CTT Systems: Doing its best in a constrained market - ABG

- 3% organic growth to accelerate to 18-16% H2'24e - 22% adj.

ABG Sundal Collier • 22 Jul 08:27

CTT Systems: H2 guidance held back by OEMs' supply constraints - ABG

- Sales -4%, EBIT -1% vs. ABGSCe, 3% org. sales - H2'24 guidance soft due to supply constraints among OEMs - ABGSCe EBIT could come down 10-...

ABG Sundal Collier • 19 Jul 09:04

CTT Systems: Positive news from Aircraft Interior Show - ABG

4 airliners select humidifiers for biz class on A350/B777X We estimate at least ~70% penetration, 100m in acc.

ABG Sundal Collier • 10 Jun 08:22

CTT Systems: ABGSC Investor Days feedback - ABG

Penetration improves further, private jet deal possible in H2'24 OEM to drive ~20-30% EBIT growth in 2024e-2025e 29-19x EBIT '24e-'26e, 40% ...

ABG Sundal Collier • 24 May 07:33

CTT Systems: Strong profitability, OEM ramp-up awaits - ABG

- Slowdown in Q2 before acceleration occurs in H2'24 - 23% adj.

ABG Sundal Collier • 30 Apr 06:52

CTT Systems: 16% EBIT beat on slightly lower sales - ABG

Sales -5%, adj. EBIT +16% vs. ABGSCe, +5% org. sales Guides for Q2 sales growth of ~11%, could lift ets.

ABG Sundal Collier • 26 Apr 10:16

CTT Systems: Strong finish, slightly slower start to 2024 - ABG

21% org. growth, 52% EBIT growth, but stable sales into Q1 22% adj.

ABG Sundal Collier • 12 Feb 09:03

CTT Systems: Strong AM, flat Q1 guidance q-o-q, extra DPS - ABG

EBIT +5% vs. ABGSCe, 21% org. growth, 39% margins (ABGSCe 36%) Slightly slower ramp-up vs.

ABG Sundal Collier • 06 Feb 08:50

CTT Systems: Destocking complete, strong growth in Q4 - ABG

10% org. growth, 3% EBIT miss, good Q4 guidance 28% adj.

ABG Sundal Collier • 31 Oct 2023 07:05

CTT Systems: ~40% margins and good guidance - ABG

- 10% org. sales (ABGSCe 14%), 9% EBIT decline - Cons 2023e EBIT roughly unchanged (excl.

ABG Sundal Collier • 27 Oct 2023 09:41

CTT Systems: Near-term turbulence to subside in 2024 - ABG

• 27% org growth, 14% EBIT beat on strong AM sales • 26% adj.

ABG Sundal Collier • 24 Jul 2023 07:49

CTT Systems: Strong earnings, but lower in Q3 - ABG

• 27% org. sales (ABGSCe 27%), 44% EBIT growth • Cons 2023e EBIT could come down 5-7% (excl.

ABG Sundal Collier • 21 Jul 2023 09:05

CTT Systems: ABGSC's Investor Days feedback - ABG

Continued optimism on both near-term and long-term growth 27% adj.

ABG Sundal Collier • 24 May 2023 07:38

CTT Systems: Operational quality bodes well for 2023 - ABG

36% org growth, 21% adj. EBIT beat on strong AM sales 27% adj.

ABG Sundal Collier • 02 May 2023 09:00

CTT Systems: Strong performance, positive guidance - ABG

36% org. sales (ABGSCe 31%), 82% adj. EBIT growth Consensus 2023e EBIT could come up 5-10% Strong report and positive guidance, 20-12x EBIT ...

ABG Sundal Collier • 28 Apr 2023 10:12

CTT Systems: The runway is clear - ABG

33% org growth, but 27% EBIT miss due to OEM+VIP+FX 26% EBIT CAGR 2022-2025e on 30% margins 25-15x EBIT '23e-'25e, ~40-50% ROCE, net cash O...

ABG Sundal Collier • 08 Feb 2023 09:09

CTT Systems: 33% org growth, 4% sales miss vs. ABG - ABG

Sales -4%, EBIT -27% vs. ABGSCe, 33% org sales (ABG 49%) Q1 guidance of ~40% growth y-o-y, but negative mix effect 23-17x EV/EBIT '23e-'24e,...

ABG Sundal Collier • 07 Feb 2023 08:49

CTT Systems: Tailwinds continue, and not just from FX - ABG

12% EBIT beat, ~45% FX-adjusted EBIT margin ‘22e EBIT +5%, ‘23e-‘24e down 7-2% (FX +10%) 28-16x EBIT ‘22e-‘24e on 29% EBIT CAGR ‘22e-‘24e I...

ABG Sundal Collier • 31 Oct 2022 09:33

CTT Systems: 12% EBIT beat on strong aftermarket sales - ABG

Sales +5%, EBIT +12% vs. ABGSC, 34% organic sales Solid end to 2022, some cautious remarks on 2023 29-16x EBIT ‘22e-‘24e, has been strong in...

ABG Sundal Collier • 28 Oct 2022 10:30

CTT Systems: Up, up and away - ABG

Aftermarket drives organic recovery and 40% margins FX offsets slower organic ramp-up; EBIT up 2-0% 27-15x EBIT ‘22e-‘24e on 34% EBIT CAGR ‘...

ABG Sundal Collier • 25 Jul 2022 08:34

CTT Systems: Solid Q2, 36% org growth and 40% margins - ABG

EBIT SEK 24m vs. ABGSCe 15m, 40% margins FactSet 2022e EBIT to come up by 1-3%, excl.

ABG Sundal Collier • 22 Jul 2022 09:02

CTT Systems: Go West - ABG

Strong aftermarket recovery behind 40% org. growth Russian sales offset by stronger aftermarket; EBIT intact 14x 2024e EV/EBIT, 20% EBIT gro...

ABG Sundal Collier • 02 May 2022 07:46

CTT Systems: A very good start to the year - ABG

Sales above CTT guidance and ABGSCe (+13%) Q2 mid-point guidance also 4% above ABGSCe Strong report and good margins, positive reaction Q1 ...

ABG Sundal Collier • 29 Apr 2022 10:22

CTT Systems: >20% growth, >30% margins set to come back - ABG

Significant earnings growth also beyond the pandemic We believe that CTT is on track to recover from the impact of the pandemic and surpass ...

ABG/Introduce • 30 Jul 2021 08:43

CTT Systems: In-line sales but lowered OEM sales forecast - ABG

Q2 details Q1 seemingly marked the trough as CTT was able to deliver Q2 sales of SEK 38m (+1% vs.

ABG/Introduce • 23 Jul 2021 08:11

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