Ctt Systems Ab · OMXSTO:CTT
Ctt Systems Ab — Shareholder Meeting (May 2025)
18 slides from Ctt Systems Ab's shareholder meeting presentation, May 2025
Slide 1: Annual General Meeting 2025 – CEO Presentation
ANNUAL GENERAL MEETING 2025 CEO PRESENTATION, HENRIK HÖJER
Slide 2: The Solution: Active moisture control
The Solution: Active moisture control Humidifiers De-Humidifiers 60+ ONLY A FEW REPEAT NB CUSTOMERS AIRLINE CUSTOMERS LARGE INSTALLED 787-BASE WITH 50+ AIRLINES ❑ Sole OEM supplier - Strong market ❑ Underlying trends supportive position ❑ No leverage without catalogue ❑ Diversified customer base sta
Slide 3: FY 2024 Financials in short
FY 2024 Financials in short ❑ Net Sales decreased 3% to 300 MSEK (309) ❑ Sales mix dominated by Aftermarket (78%) ❑ EBIT decreased 5% to MSEK 113 (118) ❑ EBIT margin 38% (38) ❑ EPS amounted to 6.82 SEK (7.62) ❑ Operating cashflow amounted to MSEK 66 (117) Sales Mix, % Net Sales Bridge (MSEK) 300 202
Slide 4: Flying start of 2025
Flying start of 2025 Orders 146 ZD systems for A321s ❑ Record high order intake ❑ CTT’s OEM deliveries jumped as Boeing resumed to take deliveries tracking 787 build-rate content ❑ Private Jet orders from Airbus Corporate Jets and negotiations with another two OEMs ongoing 4
Slide 5: Tariffs and currency headwind
Tariffs and currency headwind ❑ Fluid situation with tariffs and trade barriers $ ❑ Tariffs and deglobalization is not good for aviation ❑ Direct impact – Complex global supply chains - Exempted from tariffs since 1979 – Not the case as of now (general tariffs imposed in April) ❑ Indirect impact – A
Slide 6: Net sales by segment (300 MSEK)
Non-Core; 4% OEM; 13% Retrofit; 0% Private jet; 5 300 MSEK Aftermarket; 78% CTT:
Slide 7: Aftermarket outlook
Net Sales Aftermarket outlook 300 200 243 233 187 • CTT’s end-market currently at MSEK 50 – 60, growing 5 -10 % in 2025 100 124 147 98 99 • Long-term growing with the installed base 72 0 • Aftermarket revenues to rebound sharply in Q2 2017 2018 2019 2020 2021 2022 2023 2024 275 250 80 MSEK MSEK ROLL
Slide 8: Population
Population • >3000 humidifiers in-service on approx. 1500 widebodies • ~2500 de-humidifiers in-service on ~1300 aircraft Flight deck Crew rest Cabin 8
Slide 9: Growth
Growth 1. OEM – 40 MSEK 14 0 2. VIP / Private jet – 14 MSEK 40 3. Retrofit a) Anti-Condensation – 0 MSEK b) Cabin Humidification – 0 MSEK 4. Private jet - Large-cabin bizjets 5. OEM: a) Bundling / Basic b) New OEM program 233 c) Add product content on 787 Aftermarket OEM Private jet Retrofit d) Anti
Slide 10: CTT's OEM model
CTT’s OEM model • Sole supplier to Airbus and Boeing – Optional equipment Boeing 787 A350 Boeing 777X Humidifier 3 6 5 shipset max Competition No No No Average build 2 < x < 2.5 Gradual increase Too early content from <1 to >2 Anti- No Yes, optional and No Condensation basic in cabin humidification
Slide 11: OEM growth delayed 2024 – Strong start in 2025
OEM growth delayed 2024 50 Quarterly sales 40 – Strong start in 2025 30 OEM – Production ramp up delayed in 2024 20 ❑ Boeing failed to ramp up 787 production ❑ Back at 5 per month end of year 10 ❑ Stock level adjustments held back CTT 0 deliveries in Q3 and Q4 ❑ Airbus failed to ramp up A350 product
Slide 12: OEM Dynamics: Ramp-up but issues to solve
OEM Dynamics: Ramp-up but issues to solve Addressable market growing – 2x+777X ❑ Airbus A350 build-rate at 6 – targeting 12 in 2028 ❑ Boeing targets to increase build-rate to 7 from 5 in 2025 and elevate to 10 in 2026. ❑ Boeing 777-9 certification flight testing resumed in Q4 – EIS target in 2026 wi
Slide 13: Private jet business model
Private jet business model • VIP aircraft from Airbus and Boeing and large- cabin business jets • Historically VIP projects • Airbus Corporate Jets (ACJ) leads the way by promoting and selling the jointly developed kit- system • Targeting large-cabin business jet segment 13
Slide 14: Airbus Corporate Jets leads-the-way
Airbus Corporate Jets leads-the-way Successful promotion of humidification system as part of comfort climate – 100 % selection 14
Slide 15: ACJ330
ACJ330 ACJ contracts CTT to develop kit system for the ACJ330 including Window Defrosting 15
Slide 16: Private jet - OEM key to volumes
Private jet - OEM key to volumes 16
Slide 17: We make flying a little better
WE MAKE FLYING A LITTLE BETTER THRIVE WITH HUMIDITY AT HEALTHY LEVEL 17
Slide 18: Take action for our future
ke action for our future take action for our fu Take up the challen ~reduce every way YOU