Systems for climate control in airplanes

CTT Systems

CTT Systems develops climate control products for aircraft, including dehumidification systems to prevent condensation and humidifiers for crew and passenger wellbeing. CTT’s products are offered on the Boeing 787 and 777X as well as the Airbus A380 and A350. The company holds a majority market share within both dehumidification and humidification products and is a tier-1 supplier to the Boeing 787 and 777X.

Financials

CTT SYSTEMS

SEKm 2018 2019 2020
Sales 318 340 342
Sales growth (%) 16,4 7 0,4
EBITDA 99 102 N/A
EBITDA margin (%) 24 31 29,9
EBIT adj 58 96 94
EBIT adj margin (%) 21,2 30 27,5
Pretax profit 92 92 100
EPS rep 5,73 5,75 6,21
EPS growth (%) 50,9 0,4 8
EPS adj 5,91 5,75 6,21
DPS 3,5 3,85 4,3
EV/EBITDA (x) 16,6 16 14,9
EV/EBIT adj (x) 17,1 17,4 16,1
P/E (x) 23,2 23,1 21,4
P/E adj (x) 22,5 23,1 21,4
EV/sales (x) 5,1 4,8 4,7
FCF yield (%) 1,6 3 3,5
Dividend yield (%) 2,6 2,9 3,2
Net IB debt/EBITDA -0,3 -0,3 -0,4

Main shareholders

CTT Systems

Main shareholders Share capital % Voting shares % Verified
Tomas Torlöf 13.0 % 13.0 % 31 Dec 2018
Rockwell Collins Inc 9.1 % 9.1 % 30 Sep 2018
Swedbank Robur Fonder 8.0 % 8.0 % 31 Dec 2018
Catron Design AB 4.3 % 4.3 % 31 Dec 2018
Jorame AB 4.3 % 4.3 % 31 Dec 2018
If Skadeförsäkring AB 4.1 % 4.1 % 31 Dec 2018
Allianz Global Investors 2.9 % 2.9 % 31 Oct 2018
AMF Försäkring & Fonder 2.5 % 2.5 % 31 Dec 2018
Bellevue Asset Management 2.2 % 2.2 % 31 Dec 2018
Christer Torlöf 2.1 % 2.1 % 31 Dec 2018
Source: Holdings by Modular Finance AB

Insider list

CTT Systems

Name
Tony Rosendal
Mats Lundin
Mats Lundin
Mats Lundin
Tony Rosendal
Tommy Ahlsved
Trulscom Förvaltning AB
Hans Torbjörn Erland Johansson
Peter Landquist
Torleif Nilsson
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