Q2 2025 CTT Systems AB Earnings Call Transcript
Key Points
- CTT Systems AB (LTS:0GUO) experienced strong business momentum in the private jet sector, delivering multiple ACJ320 kit systems.
- The company received five new orders in Q2, including a significant wide-bodied VIP project for four BBJ 787s.
- Aftermarket sales rebounded to SEK57 million, recovering from a temporary dip in Q1.
- Order intake increased significantly to SEK89 million, driven by private jet and OEM orders.
- CTT Systems AB expects strong growth in OEM and private jet markets, with significant order flow from Airbus corporate jets.
- Reported sales decreased by 3% from SEK82 million to SEK80 million compared to the same quarter last year.
- Operating profit (EBIT) decreased by 18%, with the EBIT margin dropping from 38% to 23%.
- Earnings per share fell from SEK1.96 to SEK1.19, indicating a decline in profitability.
- The company faced a negative currency impact of SEK8 million on net sales due to a 10% USD/SEK movement.
- Net debt increased to SEK45 million, compared to a negative SEK5 million in Q2 of the previous year.
Thank you and good morning. Welcome to CTT's quarterly earnings call. We will present the Q2 financial result and outlook going forward. Starting with the quarterly business highlights, a strong business momentum continues in private jet. We delivered one complete ACJ320 kit and two ACJ320 kit systems, except for the Window Defrost kit that will be deliver in Q3.
In Q2, we received five new orders, one ACJ320 on top of the four received in Q1, and one wide-bodied VIP project for four BBJ 787s. OM order backlog increased with significant pickup in deliveries from Q1 '26. Aftermarket rebounded as predicted from a temporary dip in Q1 to SEK57 million.
Shifting to the financial performance in short, comparing the second quarter with the same quarter last year, reported sales decreased 3% from SEK82 million to SEK80 million. If adjusting for currency sales, increased 7% to SEK88 million. In the quarter, the minus 10% US dollar SEC movement had a negative impact of SEK8 million net sales.
Operating profit, EBIT decreased to 18%
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