Ctt Systems Ab · OMXSTO:CTT
Ctt Systems Ab — Investor Presentation (March 2024)
24 slides from Ctt Systems Ab's investor presentation, March 2024
Slide 1: CTT Systems AB Introduction Q1 2024
INTRODUCTION CTT SYSTEMS AB Q1 2024
Slide 2: Facts about CTT
FACTS ABOUT CTT • Founded in 1991 • Based in Nyköping, Sweden • Listed: NASDAQ Stockholm, Mid Cap. Ticker: CTT, • Market Cap ~2,5 BSEK (May 2023) • Largest share holders - Tomas Torlöf - SEB Fonder - Rockwell, Collins Aerospace - Odin Fonder - Swedish National Pension fund AP3 - Nya Jarome Holding A
Slide 3: CTT Manufacturing and Assembly Locations
CTT MANUFACTURING AND ASSEMBLY LOCATIONS C TT Ny kö p in g , S w e d e n C TT- BRIBO Ny b ro , S w e d e n • Head Quarter, Management, R&D, HR, Quality, Sales & Marketing • Advanced sheet steel processing, mainly for CTT products • Product Assembly & Warehouse • Pad product Assembly, Quality & Wareh
Slide 4: Q4 2023 Financials in short
Q4 2023 Financials in short +20% q Net Sales of 81 MSEK (68) – increased 20% - currency adjusted 21% - in forecasted range MSEK 80 - 85 q EBIT 32 MSEK (21) - EBIT margin 39% (31) q Net Profit 27 MSEK (18) – Profit margin 43% (33) q EPS 2.19 SEK (1.42) q Operating cash flow of 30 MSEK (18) +52% +54%
Slide 5: Forecast Q4 2023
Forecast Q4 2023 100 80 MSEK 75 81 80 – 85 60 q Q1 2024 Net Sales Forecast: 80 - 85 MSEK (75) (Y-o-Y-increase of 7 % - 13 %) 40 q Quarter-to-quarter sales increase in OEM; offset by decrease in Aftermarket 20 0 Q123 Q423 Q124E 110 MSEK QUARTERLY NET SALES MSEK ROLLING 4Q 100 400 90 80 - 85 380 360 8
Slide 6: Aftermarket demand normalized
Net Sales Aftermarket demand normalized 300 250 243 200 Underlying aftermarket demand tracks changes in population size, driven by 150 187 § Growth from more systems in-service on Airbus and Boeing 100 147 124 § Repair growth driven by more systems out of warranty and ageing population 98 99 50 72 0
Slide 7: Shift in growth driver – Next phase
Shift in growth driver – Next phase Net Sales 400 350 MSEK 137 10 15 300 166 30 18 0 35 250 14 35 126 243 21 0 200 15 104 20 5 32 187 150 83 147 7 10 124 25 100 98 99 50 72 0 2017 2018 2019 2020 2021 2022 2023 Aftermarket OEM Private jet Retrofit 7
Slide 8: OEM – The growth engine (again)
OEM – The growth engine (again) Net Sales 180 160 166 140 120 126 100 q Boeing 787 build-rate currently at 5 per month - targeting 10 by 2025 / 2026 timeframe 80 104 q Airbus A350 build-rate at 6 - targeting 10 in 2026 60 83 q First 777X aircraft delivery to airline expected in end-2025 – CTT delive
Slide 9: CTT Product Families
CTT PRODUCT FAMILIES Humidifier Onboard Anti-Condensation
Slide 10: The Humidity Paradox
THE HUMIDITY PARADOX
Slide 11: CTT Legacy and Major Milestones
CTT LEGACY AND MAJOR MILESTONES Hu m id ifie rs De - Hu m id ifie rs 2020 2005 >3 0 0 0 De- Bo e in g 7 8 7 selects FD, FCR, Humidifiers v installed ACR Humidifiers, De- Humidifiers 2008 Air b u s 3 5 0 selects FD, FCR, ACR, Cabin Humidification, De- Humidifier 2017 Bo e in g 7 7 7 X selects FD, 202
Slide 12: In-Service: Humidifier Onboard Business Class
In-Service: Humidifier Onboard Plus: Humidifier Onboard A350 -1000 / Boeing 777X: 4 Airline Awards with EIS 2025 / 2026 Business class q Humidifier Onboard Business Class in 10 A350-900s q In-service since 2019 q Humidifier Onboard Business Class in 6 A350-900s q 4 already in-service 12
Slide 13: The cabin humidification retrofit opportunity
The cabin humidification retrofit opportunity q Growing airline interest in cabin air quality / humidity / wellness q Better market conditions q Many airlines are in the planning of next-gen business class; driven by competition and harmonize new aircraft interior q Retrofit opportunity: 1,000 Boein
Slide 14: Humidifier Onboard Why?
TRUE WELLBEING WITH HUMIDIFIER ONBOARD WHY?
Slide 15: How much does a human eat and drink per day?
THE AIR WE BREATHE How much does a Human eat and drink per day?
Slide 16: The Air We Breathe
THE AIR WE BREATHE Everyday a human person • eat ~1,5 kgs food (3,3 lb) • drink ~2 kgs fluid (4,4lb)
Slide 17: How much air does a human breathe per day?
THE AIR WE BREATHE Everyday a human person • eat ~1,5 kgs food (3,3 lb) • drink ~2 kgs fluid (4,4lb) How much Air do a Human Breathe per day?
Slide 18: 25kgs (55 lb) of air per day
THE AIR WE BREATHE Everyday a human person • eat ~1,5 kgs food (3,3 lb) • drink ~2 kgs fluid (4,4lb) We breathe 25kgs (55 lb) of Air per day! ….or 20 000 liters in 20 000 breathes per day
Slide 19: The Flying Mushroom
THE FLYING MUSHROOM
Slide 20: Mushroom - At take off Stockholm
MUSHROOM - AT TAKE OFF STOCKHOLM (ON THE WAY TO CHICAGO) • This is two fresh mushrooms flying Business Class • Picture taken just after take off on a flight between Stockholm and Chicago
Slide 21: Mushroom - After 3 hours flight
MUSHROOM - AFTER 3 HOURS FLIGHT • Humidity is dropping to around 6,7% (RH%), on a 100% full Cabin • Mushrooms start to de-hydrate and shrink
Slide 22: Mushroom – Arriving at Chicago O'Hare
MUSHROOM – ARRIVING AT CHICAGO O’HARE At arrival after 8 hrs the flying mushrooms • has deep wrinkles • shrunk in size • has a hard shell
Slide 23: Don't be a mushroom!
DON’T BE A MUSHROOM! BEFORE AFTER
Slide 24: Thanks!
THANKS!