CTT Systems
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CTT Systems (CTT) investor relations material

CTT Systems Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary6 Feb, 2026

Executive summary

  • Q4 2025 net sales declined 31% year-over-year to SEK 57 million, with EBIT margin dropping to 12% and significant FX and inventory effects impacting results.

  • Strategic agreement signed with Boeing Business Jets for BBJ737MAX cabin humidification, expanding OEM partnerships and future sales opportunities.

  • Installed base of humidifiers on A350s and Boeing 787s grew by 10% in 2025, supporting future aftermarket growth.

  • Aftermarket and Private Jet segments saw significant revenue declines due to distributor inventory reductions and project postponements, while OEM sales increased.

  • Cost savings initiatives and strategic agreements position the company for future growth.

Financial highlights

  • Q4 net sales down 31% year-over-year to SEK 57 million; FX-adjusted decrease was 18–22%.

  • EBIT fell to SEK 7 million from SEK 34 million; EBIT margin at 12% (14% FX-adjusted) vs. 41% prior year.

  • EPS for Q4 was SEK 0.45 (down from 1.93); full-year EPS was SEK 3.08 (down from 6.82).

  • Operating cash flow for Q4 was SEK -5 million, down from SEK 16 million; full-year operating cash flow was SEK 36 million, down from SEK 66 million.

  • Order intake SEK 65 million (vs. SEK 81 million); backlog SEK 131 million (vs. SEK 48 million).

Outlook and guidance

  • 2026 is expected to see higher OEM volumes and improved aftermarket sales as distributor inventories normalize and aircraft production ramps up.

  • Q1 2026 forecasted to have higher sales quarter-on-quarter in USD, driven by improved aftermarket demand and OEM deliveries, though private jet segment to start weak.

  • OEM growth rate set to accelerate in 2026/2027, with Boeing leading production ramp-up and higher shipset content on A350s.

  • Aftermarket sales in 2026 expected to exceed 2025 as inventory levels normalize.

  • EBIT margin targeted to gradually improve to 25% or above, supported by volume growth and cost control.

How will CTT mitigate 2026 FX headwinds
What is the 2026 aftermarket sales growth outlook?
Private Jet growth strategy beyond 2026
Path to 25%+ EBIT margin given FX volatility?
Aftermarket sales mirroring end market demand?
Progress on SEK 100M large cabin jet market?
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Frequently asked questions

CTT Systems AB designs, manufactures, and supplies humidity control products for aircraft worldwide. The product portfolio includes a range of de-humidification systems, air and ground based cabin air heaters, bleed air systems, air to air heat exchangers, and total oxygen systems. CTT also designs and builds fully automatic preventive maintenance and testing equipment for repair and maintenance stations. CTT is based in Norrköping, Sweden.

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