Ctt Systems Ab · OMXSTO:CTT
Ctt Systems Ab — Q1 2019 Earnings Presentation
18 slides from Ctt Systems Ab's earnings presentation, Apr 30, 2019
Slide 1: Q1 2019 Earnings Conference Call
APRIL 30, 2019 EARNINGS CONFERENCE CALL Q1 2019 CTT SYSTEMS AB
Slide 2: Torbjörn Johansson, CEO and Daniel Ekstrand, CFO
TORBJÖRN JOHANSSON DANIEL EKSTRAND CEO CFO 2
Slide 3: Humidity Control in Aircraft
Humidity Control in Aircraft For a better climate – in the aircraft cabin and in the sky De-Humidifiers Humidifiers 3
Slide 4: A
Q1 2019 A 4
Slide 5: Q1 2019 Highlights
Q1 2019 Highlights Strong Net Sales growth – First 777X deliveries Net Sales of 85.6 MSEK slightly exceeded forecasted 80-85 MSEK 21 % currency adjusted Net Sales growth First humidifier deliveries for line fit on Boeing 777X 5
Slide 6: Q1 2019 Financials in short
Q1 2019 Financials in short 34 % Net Sales of 85.6 MSEK (63.8), up 34 % versus previous year Operating Profit (EBIT) of 23.2 MSEK (13.2), up 75 % YoY EBIT Margin 27 % (21) EPS 1.44 SEK (0.80), up 80 % Operational cash flow of 22.1 MSEK (5.4) 75 % 80 % 6
Slide 7: Net Sales Bridge, YoY
Q1 2019 Net Sales Bridge, YoY Organic growth 21 % FX Effect 13 % 34 % Net Sales growth 85.6 Higher OEM sales and growing aftermarket sales contributed equally to top-line growth VIP projects contributed with 6.9 MSEK Retrofit was slightly weaker 7
Slide 8: Sales Mix
Q1 2019 | Sales Mix Q1i9 Non-Core; 7% IP; 4% OEM; 44% Aftermarket; 30% VIP; 8% Retrofit; 7% Aftermarket; 26% Qiis Non-Core; 10% IP; 4% VIP; 0% Retrofit; 16% OEM; 44% SYSTE
Slide 9: EBIT Profit Bridge
Q1 2019 EBIT Profit Bridge Volume, price, Higher USD/SEK contributed with 8.3 MSEK of total 21.8 MSEK Net Sales gain MSEK Q118 mix and other Currency Q119 Change Net Sales 63.8 13.5 8.3 85.6 21.8 EBIT 13.2 3.0 6.9 23.2 9.9 EBIT MARGIN 21% 27% The EBIT improvement of 9.9 MSEK is explained by: Busin
Slide 10: Free Cash Flow
Q1 2019 Free Cash Flow Cash flow from operations now back to levels slightly below EBIT Normalized tax and large capex from development programs Financial Performance Change in Cash Q119 Q118 84.9 Earnings before tax reconsiled to cash 25.3 14.1 Paid tax -4.3 -1.1 Change in operating net assets
Slide 11: Order Intake & Backlog
Q1 2019 Order Intake & Backlog Q1 order intake of 57.9 MSEK (159.3) MSEK Q118 Q119 Backlog decreases to 173.3 MSEK (234.3), mainly due to declining Zonal Drying backlog to Boeing 787 & drop Order intake 159.3 57.9 in Retrofit orders Backlog 234.3 173.3 Good visibility in OEM with predictable d
Slide 12: Rolling 4Q Financials in short
Rolling 4Q Financials in short Net Sales of 337,1 MSEK (263,9), up 28 % versus previous Rolling 4Q 28 % Operating Profit (EBIT) of 100,2 MSEK (55,8), up 80 % EBIT Margin 30 % (21) EPS 6,20 SEK (3,63), up 71 % Operational cash flow of 77,9 MSEK (70,3) 71 % 80 % 12
Slide 13: Rolling 4Q Net Sales Bridge
Rolling 4Q Net Sales Bridge 28 % Net Sales growth Strong OEM sales Aftermarket sales increased Retrofit was slightly weaker 13
Slide 14: Outlook
OUTLOOK A 14
Slide 15: Q2 Forecast
Q2 Forecast Net Sales forecasted to be 90 - 95 MSEK (76.5), up 18 -24 % versus previous year 18 - 24 % 90 - 95 15
Slide 16: FY2019E Performance Outlook 2019
FY2019E Performance Outlook 2019 1H 2019 Net Sales: up 10 – 15 % (in USD) New guidance: 15-20% Higher OEM deliveries is expected to push Net Sales Humidifier airliner deliveries FY2019E, up 10 - 15 % De-Humidifier deliveries FY2019E, - 5 % - 5 % Record-high humidifier deliveries driven by Retrofit
Slide 17: Two A350 Airline Awards
TWO A350 AIRLINE AWARDS 17
Slide 18: 18
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