Slide 1: Earnings Call Q3 2025
HENRIK HÖJER MARKUS BERG CEO CFO EARNINGS CALL Q3 2025 Third Quarter 2025 2025-10-24
Slide 2: Highlights
Highlights 1. Strong momentum in system sales, up 80 % in 9M 2025 2. First retrofit-deliveries (in years) – Commencing deliveries to jet2.com - Mega-order to retrofit 146 A321s 3. At NBAA in October, Boeing Business Jets announced partnership to offer cabin humidification as baseline 4. OEM cooperat
Slide 3: Q3 2025 Financials in short
Q3 2025 Financials in short +29% ❑ Net sales increased 29% to MSEK 74 (57) – FX offset sales with MSEK -7 ❑ EBIT amounted to 19 (15) - FX offset EBIT with MSEK -5 ❑ EBIT margin 25% (26) ❑ EPS 1.15 SEK (0.98) ❑ Operating cash flow of 33 MSEK (8) +24% +18% 3
Slide 4: Q3 2025 Net Sales Bridge and Mix
Q3 2025 Net Sales Bridge and Mix The Net Sales increased 17 MSEK from 57 MSEK to MSEK 74: ❑ Revenue increased 12 MSEK in Private jet ❑ OEM build rate increased, adding 2 MSEK ❑ First Retrofit deliveries in years, adding 2 MSEK Net Sales Bridge (MSEK) Sales Mix, % 74 57 4
Slide 5: Q3 2025 Order Intake & Backlog
Q3 2025 Order Intake & Backlog ❑ Order intake: 48 MSEK vs 69 MSEK in Q3 2024 ❑ Order backlog at 129 MSEK (47) MSEK MSEK Q324 Q325 Order intake 69 48 Backlog 47 129 USD/SEK 10.09 9.42 5
Slide 6: Q3 2025 EBIT Bridge
Q3 2025 EBIT Bridge ❑ EBIT MSEK 19 (15) ❑ Positive sales volume increased EBIT with MSEK 15 ❑ Negative sales mix & price resulted in EBIT decrease of MSEK 5 ❑ FX offset 5 MSEK - Cost savings ongoing MSEK 15 -5 19 15 -5 -1 6
Slide 7: Q3 2025 Cash Flow
Q3 2025 Cash Flow ❑ Strong operating cash flow of MSEK 33 (8) > EBITDA MSEK 20 ❑ Working capital positive MSEK 16 ❑ 2H 2025: Strong operating cash flow >> EBITDA 35 2 7
Slide 8: Q3 2025 Net Debt & ROCE
Q3 2025 Net Debt & ROCE ❑ Net debt amounting to MSEK 2 compared -13 MSEK in Q3 last year ❑ Cash MSEK 35 and in addition available credit facilities amounting to MSEK 57 ❑ Equity ratio 73% (73%) and Net Debt / (R12 EBITDA) 0.0 (-0.1) MSEK 8
Slide 9: YTD 2025 Financials in short
YTD 2025 Financials in short ❑ Net Sales decreased 5% to 208 MSEK (218), currency adjusted +1% ❑ Less Aftermarket in sales mix 63% (79) ❑ EBIT decreased 49% to MSEK 41 (79) ❑ EBIT margin 20% (36) ❑ EPS decreased 46% to 2.63 SEK (4.89) ❑ Operating cashflow amounted to MSEK 41 (50) Net Sales Bridge (M
Slide 10: No guidance going forward for the next quarter
No guidance going forward for the next quarter Quarterly sales 110 100 CTT will not give any specific guidance for the 90 next upcoming quarter going forward. This is due to unusually large currency movements 80 (read: USD/SEK), shorter lead times from order 70 to delivery and changed buying behavio
Slide 11: Aftermarket outlook
Net Sales Aftermarket outlook 300 200 243 233 ❑ CTT’s aftermarket sales tough comparable numbers in 2023/204 187 ❑ CTT’s end-market currently growing at single-digit pace 100 147 124 98 99 ❑ Expect the installed base of humidifiers to grow by >20% per year; 0 72 when Airbus and Boeing reach producti
Slide 12: OEM outlook
OEM outlook 200 Net Sales 1. Up-tick in orders with deliveries from Q126 150 166 2. Addressable market growing – tracking aircraft build-rates 100 126 3. Shipset content on A350s increasing gradually end-2025/2026 104 83 50 35 40 Quarterly sales 0 25 20 50 175 2017 2018 2019 2020 2021 2022 2023 2024
Slide 13: Private jet Outlook
Net Sales Private jet Outlook 35 30 32 25 ❑ Private jet revenue in Q2 – Q3 approx. 10 MSEK/Q 20 21 ❑ Growth driven by higher penetration on narrowbody VIPs as 15 18 15 15 ❑ Airbus Corporate Jets (ACJ) front runs by promoting humidification for 10 14 14 5 10 ACJ320 Family, the ACJ TwoTwenty and the A
Slide 14: Opportunities: Private jet
Opportunities: Private jet 14
Slide 15: Cabin humidification baseline across all BBJs
Cabin humidification baseline across all BBJs Boeing Business Jets and CTT signed MoU at NBAA in Las Vegas Boeing Business Jets and CTT Systems to Further Cooperation on Enhancing Humidity Features on All Future Aircraft LAS VEGAS, Oct. 15, 2025 — Boeing [NYSE: BA] and CTT Systems, a specialist on h
Slide 16: Retrofit Anti-Condensation Outlook
Retrofit Anti-Condensation Outlook ❑ No OEM Availability – OEM is a requirement for scalable growth Net Sales ❑ Retrofit demand to drive OEM: 40 ❑ A320 operators to demand line-fit or post-delivery modification 30 – Focused efforts to win launch customers 35 30 20 ❑ Limited efforts to obtain STC for
Slide 17: Summary
Summary ↑ OEM momentum picks-up end-25 / beginning of 2026 – Strong outlook 2026/2027 ↑ Private jet establishing higher net sales base-line ↑ Aftermarket sales to recover in 2026 ↑ EBIT margin recovery in 2026 (at current FX) 17
Slide 18: ke action for our future
ke action for our future Take ¢ Take up the challen ~reduce every way YOU Now!
Slide 19: We make flying a little better
WE MAKE FLYING A LITTLE BETTER THRIVE WITH HUMIDITY AT HEALTHY LEVEL 19