contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


ctt-systems-retrofit-and-vip-orders-improve-visibility-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

CTT Systems operates in the aerospace industry and focuses on the development and manufacture of systems for humidity and temperature control in aircraft. The company's products are aimed at aircraft operators and manufacturers. The operations are international and target customers globally. CTT Systems was founded in 1991 and is headquartered in Nyköping, Sweden.

CTT Systems

SEK 14m order secures our 2022e Retrofit forecastRecent VIP/private jet orders also bode well for the future13x EV/EBIT 2025e, >20% EBIT growth, >40% ROCEOrder from Pobeda highlights potential...

SEK 14m order secures our 2022e Retrofit forecastRecent VIP/private jet orders also bode well for the future13x EV/EBIT 2025e, &gt;20% EBIT growth, &gt;40% ROCE<br><br>Order from Pobeda highlights potential from retrofits…<br>We have seen three positive order announcements from CTT recently. First, CTT at our ABGSC Investor Days (8 December) highlighted the retrofit potential within dehumidifiers for the short-haul market, and the Russian market in particular (a USD 15-30m market). This potential has now become a reality, with a SEK 14m order from Russian low-cost carrier Pobeda Airlines. The order is for 20 Boeing 737-800NG aircraft (SEK 0.7m per unit), with deliveries during 2022. By comparison, we forecast Retrofit sales of SEK 12m in 2022 (4% of est. group sales). Thus, the Pobeda order fully covers our current estimate. Although retrofits will be a smaller part of CTT’s business, we believe this highlights the potential from future retrofits as more airlines understand the cost (and environmental) benefits of installing dehumidifiers.…and recent VIP orders cover ~34% of our 2022e VIP salesThe other two orders relate to CTT’s VIP/private jet systems for two Airbus corporate jets (ACJ319neo) and one Boeing aircraft (BBJMAX8), and we estimate that these together amount to SEK 12m. This in turn would cover ~34% of our SEK 35m VIP forecast for 2022e. In addition, we find it positive that CTT continues to secure orders from Airbus, as the company estimates that VIP sales to the Airbus ACJ320 family and the ACJ220 could be a USD 4.5m market (annual sales). Our 2025e VIP assumption of ~SEK 120m (~20% of group sales) is based on CTT gaining traction mainly with Airbus, Bombardier and Gulfstream. CTT continues to hold a monopoly position in all of its niches.Increased confidence in 11% adj. EBIT CAGR ’19-‘25eWe argue that the recent order wins are positive for the likelihood of CTT gaining traction within the retrofit and VIP/private jet market. However, the main earnings driver will continue to be CTT’s aftermarket business, which in the near-term could be negatively affected by reimposed travel restrictions due to the Omicron variant. On our forecasts, CTT is trading at 25-19x EBIT ‘22e-‘23e (13x ‘25e) and is set to deliver a &gt;20% adj. EBIT CAGR ‘22e-‘25e while yielding &gt;30% margins and &gt;40% ROCE.