Cash flow CTT Systems AB

Equities

CTT

SE0000418923

Aerospace & Defense

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2026-01-16 EST			5-day change	1st Jan Change
182.20 ^SEK	-1.30%		-5.60%	-8.53%

12-01	Merck showcases data for Alzheimer's disease candidates MK-2214 and MK-1167 at CTAD 2025	RE
11-10	CTT's Banco CTT prices senior debt issuance of 45 mln euros	RE

617e2fe195cbb9cda0a11e10.V7mUmDetwQ1EXhZVnierV3wPgP_rcL3lSLb1P1H6q_A.Boj_oHrLiUkbO24s0HLzOBRkx5mhCNiVGuWCaRWcmKQOyP-tZt2yQycucQ

Published financial data: CTT SYSTEMS AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	207M	154M	244M	311M	302M
Other Revenues, Total	-100K	-	-	-	-
Total Revenues	207M	154M	244M	311M	302M
Cost of Goods Sold, Total	57.5M	35.8M	46.6M	63.2M	60.6M
Gross Profit	149M	118M	197M	248M	242M
Selling General & Admin Expenses, Total	109M	97.1M	104M	116M	129M
Depreciation & Amortization - (IS)	6.8M	7M	7.9M	9.3M	7.5M
Other Operating Expenses	-700K	-200K	-500K	1.1M	-2.9M
Other Operating Expenses, Total	115M	104M	112M	126M	134M
Operating Income	34.4M	14.5M	85.5M	121M	108M
Interest Expense, Total	-1.2M	-8.9M	-9M	-3.4M	-3.2M
Interest And Investment Income	2.4M	-	1M	2.5M	2.7M
Net Interest Expenses	1.2M	-8.9M	-8M	-900K	-500K
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	100K	7.5M	6.4M	200K	300K
Other Non Operating Income (Expenses)	-	-	-100K	0	200K
EBT, Excl. Unusual Items	35.7M	13.1M	83.8M	120M	108M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-4.3M	-	-	-
Other Unusual Items	3.9M	9.1M	-	-	-
EBT, Incl. Unusual Items	39.6M	17.9M	83.8M	120M	108M
Income Tax Expense	8.5M	3.7M	17.5M	25M	22.2M
Earnings From Continuing Operations	31.1M	14.2M	66.3M	95.5M	85.5M
Net Income to Company	31.1M	14.2M	66.3M	95.5M	85.5M
Net Income - (IS)	31.1M	14.2M	66.3M	95.5M	85.5M
Net Income to Common Incl Extra Items	31.1M	14.2M	66.3M	95.5M	85.5M
Net Income to Common Excl. Extra Items	31.1M	14.2M	66.3M	95.5M	85.5M
Per Share Items
Net EPS - Basic	2.48	1.13	5.29	7.62	6.82
Basic EPS - Continuing Operations	2.48	1.13	5.29	7.62	6.82
Basic Weighted Average Shares Outstanding	12.53M	12.53M	12.53M	12.53M	12.53M
Net EPS - Diluted	2.48	1.13	5.29	7.62	6.82
Diluted EPS - Continuing Operations	2.48	1.13	5.29	7.62	6.82
Diluted Weighted Average Shares Outstanding	12.53M	12.53M	12.53M	12.53M	12.53M
Normalized Basic EPS	1.78	0.65	4.18	6.01	5.37
Normalized Diluted EPS	1.78	0.65	4.18	6.01	5.37
Dividend Per Share	1.74	0.79	4.05	5.35	5.35
Payout Ratio	163.02	153.52	14.93	53.09	127.49
Supplemental Items
EBITDA	40.1M	20.5M	91.5M	127M	113M
EBITA	35.3M	14.8M	85.8M	122M	108M
EBIT	34.4M	14.5M	85.5M	121M	108M
EBITDAR	46.8M	26.7M	98.1M	135M	121M
Total Revenues (As Reported)	233M	176M	263M	312M	319M
Effective Tax Rate - (Ratio)	21.46	20.67	20.88	20.75	20.61
Total Current Taxes	8.5M	3.7M	17.5M	25M	22.2M
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	22.31M	8.19M	52.38M	75.31M	67.31M
Non-Cash Pension Expense	-	-	200K	200K	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	2.2M	4.8M	4.2M	5.5M	5.6M
Net Rental Expense, Total	6.7M	6.2M	6.6M	7.5M	7.6M
Imputed Operating Lease Interest Expense	1.85M	8.09M	8.07M	4.67M	4.53M
Imputed Operating Lease Depreciation	4.85M	-1.89M	-1.47M	2.83M	3.07M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	21.6M	49.3M	60.1M	118M	68.7M
Total Cash And Short Term Investments	21.6M	49.3M	60.1M	118M	68.7M
Accounts Receivable, Total	47.1M	42.5M	68.8M	49.7M	70.6M
Other Receivables	6.4M	8.1M	3.8M	14.8M	5.3M
Total Receivables	53.5M	50.6M	72.6M	64.5M	75.9M
Inventory	101M	100M	116M	109M	125M
Prepaid Expenses	2.7M	2.4M	2.5M	2.3M	2.4M
Other Current Assets, Total	-	100K	100K	-	-100K
Total Current Assets	179M	203M	252M	293M	272M
Gross Property Plant And Equipment	99.1M	99.1M	100M	104M	106M
Accumulated Depreciation	-45.4M	-51.1M	-57M	-62.6M	-67.5M
Net Property Plant And Equipment	53.7M	48M	43.1M	41.1M	38.7M
Other Intangibles, Total	1.1M	800K	800K	500K	200K
Deferred Tax Assets Long-Term	-	-	-	-	-
Deferred Charges Long-Term	72M	75.1M	79.4M	80.2M	80.5M
Other Long-Term Assets, Total	1.7M	1.8M	2.1M	2.2M	1.9M
Total Assets	308M	328M	377M	417M	393M
Liabilities
Accounts Payable, Total	16.9M	15.4M	17.9M	13.9M	21.9M
Accrued Expenses, Total	14M	10.6M	17.2M	17.5M	19.2M
Current Portion of Long-Term Debt	1.2M	1.4M	1.6M	1.5M	1.6M
Current Income Taxes Payable	-	-	7.3M	14.4M	1.8M
Unearned Revenue Current, Total	100K	-	-	-	-
Other Current Liabilities	13M	13.7M	16.5M	12.8M	14.3M
Total Current Liabilities	45.2M	41.1M	60.5M	60.1M	58.8M
Long-Term Debt	35.7M	70.8M	43.9M	40.3M	42.5M
Pension & Other Post Retirement Benefits	-	-	200K	400K	-
Other Non Current Liabilities	6.1M	3.7M	3.2M	2.5M	1.4M
Total Liabilities	87M	116M	108M	103M	103M
Common Stock, Total	12.5M	12.5M	12.5M	12.5M	12.5M
Additional Paid In Capital	28.9M	28.9M	28.9M	28.9M	28.9M
Retained Earnings	179M	172M	228M	273M	249M
Comprehensive Income and Other	-	-	-	-100K	-
Total Common Equity	220M	213M	269M	314M	290M
Total Equity	220M	213M	269M	314M	290M
Total Liabilities And Equity	308M	328M	377M	417M	393M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.53M	12.53M	12.53M	12.53M	12.53M
ECS Total Common Shares Outstanding	12.53M	12.53M	12.53M	12.53M	12.53M
Book Value / Share	17.6	16.99	21.49	25.06	23.19
Tangible Book Value	219M	212M	268M	314M	290M
Tangible Book Value Per Share	17.51	16.93	21.43	25.02	23.17
Total Debt	36.9M	72.2M	45.5M	41.8M	44.1M
Net Debt	15.3M	22.9M	-14.6M	-76.1M	-24.6M
Debt Equivalent Oper. Leases	53.6M	49.6M	52.8M	60M	60.8M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	49.3M	52.5M	62.9M	64M	75.2M
Inventories - Work In Process, Total	16.9M	18.8M	21.2M	19M	21.1M
Inventories - Finished Goods, Total	35M	29.1M	32.3M	25.6M	28.7M
Land - (BS)	400K	400K	400K	500K	500K
Buildings, Total	30.4M	30.3M	30.4M	30.7M	31.5M
Machinery, Total	68.3M	68.4M	69.3M	72.5M	74.2M
Full Time Employees	88	76	73	80	85
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	1.5M	1.3M	300K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	31.1M	14.2M	66.3M	95.5M	85.5M
Depreciation & Amortization - CF	4.8M	5.7M	5.7M	5.6M	5M
Amortization of Goodwill and Intangible Assets - (CF)	900K	300K	300K	300K	300K
Depreciation & Amortization, Total	5.7M	6M	6M	5.9M	5.3M
Amortization of Deferred Charges, Total - (CF)	1.1M	1M	1.9M	3.4M	2.2M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	4.3M	-	-	-
Other Operating Activities, Total	-37.4M	2.1M	18.8M	-11.9M	-3.6M
Change In Accounts Receivable	23.5M	6.2M	-17.3M	17.6M	-20.7M
Change In Inventories	-27.9M	900K	-16M	7.7M	-16.4M
Change in Other Net Operating Assets	-6.9M	-4.4M	1.5M	-1.4M	14M
Cash from Operations	-10.8M	30.3M	61.2M	117M	66.3M
Capital Expenditure	-13.2M	-200K	-900K	-3.5M	-2.6M
Sale of Property, Plant, and Equipment	100K	100K	200K	400K	200K
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-20.5M	-8.4M	-6.5M	-4.2M	-2.5M
Investment in Marketable and Equity Securities, Total	-	-	-300K	-200K	400K
Other Investing Activities, Total	-	-100K	200K	-	-
Cash from Investing	-33.6M	-8.6M	-7.3M	-7.5M	-4.5M
Long-Term Debt Issued, Total	9.8M	29.7M	-	-	-
Total Debt Issued	9.8M	29.7M	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-300K	-1.3M	-33.7M	-1.5M	-1.6M
Total Debt Repaid	-300K	-1.3M	-33.7M	-1.5M	-1.6M
Common Dividends Paid	-50.7M	-21.8M	-9.9M	-50.7M	-109M
Common & Preferred Stock Dividends Paid	-50.7M	-21.8M	-9.9M	-50.7M	-109M
Cash from Financing	-41.2M	6.6M	-43.6M	-52.2M	-111M
Foreign Exchange Rate Adjustments	-2.7M	-700K	500K	700K	-500K
Miscellaneous Cash Flow Adjustments	-	100K	-	-	-
Net Change in Cash	-88.3M	27.7M	10.8M	57.8M	-49.3M
Supplemental Items
Cash Interest Paid	1.1M	1.2M	1.5M	3.4M	3.1M
Cash Income Tax Paid (Refund)	34.6M	6.8M	5.2M	33M	28.5M
Levered Free Cash Flow	-50.05M	1.5M	29.41M	91.12M	38.51M
Unlevered Free Cash Flow	-49.3M	7.06M	35.04M	93.25M	40.51M
Change In Net Working Capital	43.9M	400K	18.9M	-15.9M	29.2M
Net Debt Issued / Repaid	9.5M	28.4M	-33.7M	-1.5M	-1.6M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.42	2.85	15.15	19.07	16.61
Return on Total Capital	8.11	3.34	17.82	22.59	19.5
Return On Equity %	13.5	6.55	27.5	32.74	28.29
Return on Common Equity	13.5	6.55	27.5	32.74	28.29
Margin Analysis
Gross Profit Margin %	72.17	76.78	80.9	79.67	79.95
SG&A Margin	52.57	62.97	42.83	37.34	42.81
EBITDA Margin %	19.41	13.29	37.5	40.88	37.38
EBITA Margin %	17.09	9.6	35.16	39.08	35.73
EBIT Margin %	16.65	9.4	35.04	38.98	35.63
Income From Continuing Operations Margin %	15.05	9.21	27.17	30.72	28.28
Net Income Margin %	15.05	9.21	27.17	30.72	28.28
Net Avail. For Common Margin %	15.05	9.21	27.17	30.72	28.28
Normalized Net Income Margin	10.8	5.31	21.47	24.22	22.27
Levered Free Cash Flow Margin	-24.23	0.97	12.05	29.31	12.74
Unlevered Free Cash Flow Margin	-23.86	4.58	14.36	29.99	13.4
Asset Turnover
Asset Turnover	0.62	0.48	0.69	0.78	0.75
Fixed Assets Turnover	4.18	3.03	5.36	7.38	7.58
Receivables Turnover (Average Receivables)	3.47	3.44	4.38	5.25	5.03
Inventory Turnover (Average Inventory)	0.66	0.36	0.43	0.56	0.52
Short Term Liquidity
Current Ratio	3.96	4.93	4.16	4.88	4.62
Quick Ratio	1.66	2.43	2.19	3.03	2.46
Operating Cash Flow to Current Liabilities	-0.24	0.74	1.01	1.94	1.13
Days Sales Outstanding (Average Receivables)	105.53	106.04	83.25	69.56	72.82
Days Outstanding Inventory (Average Inventory)	555.68	1.03K	849.06	649.72	705.43
Average Days Payable Outstanding	85.39	168.42	97.08	104.76	85.08
Cash Conversion Cycle (Average Days)	575.83	965.33	835.22	614.53	693.17
Long Term Solvency
Total Debt/Equity	16.73	33.91	16.9	13.31	15.18
Total Debt / Total Capital	14.34	25.32	14.45	11.75	13.18
LT Debt/Equity	16.19	33.26	16.3	12.83	14.63
Long-Term Debt / Total Capital	13.87	24.83	13.95	11.33	12.7
Total Liabilities / Total Assets	28.29	35.19	28.59	24.75	26.12
EBIT / Interest Expense	28.67	1.63	9.5	35.65	33.66
EBITDA / Interest Expense	33.42	2.3	10.17	37.38	35.31
(EBITDA - Capex) / Interest Expense	22.42	2.28	10.07	36.35	34.5
Total Debt / EBITDA	0.92	3.52	0.5	0.33	0.39
Net Debt / EBITDA	0.38	1.12	-0.16	-0.6	-0.22
Total Debt / (EBITDA - Capex)	1.37	3.56	0.5	0.34	0.4
Net Debt / (EBITDA - Capex)	0.57	1.13	-0.16	-0.62	-0.22
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-42.02	-25.36	58.24	27.42	-2.77
Gross Profit, 1 Yr. Growth %	-39.93	-20.59	66.72	25.48	-2.42
EBITDA, 1 Yr. Growth %	-65.31	-48.88	346.34	38.91	-11.16
EBITA, 1 Yr. Growth %	-68.26	-58.07	479.73	41.61	-11.18
EBIT, 1 Yr. Growth %	-68.76	-57.85	489.66	41.75	-11.21
Earnings From Cont. Operations, 1 Yr. Growth %	-66.41	-54.34	366.9	44.04	-10.47
Net Income, 1 Yr. Growth %	-66.41	-54.34	366.9	44.04	-10.47
Normalized Net Income, 1 Yr. Growth %	-68.55	-63.31	539.69	43.79	-10.62
Diluted EPS Before Extra, 1 Yr. Growth %	-66.41	-54.34	366.9	44.04	-10.47
Accounts Receivable, 1 Yr. Growth %	-34.67	-9.77	61.88	-27.76	42.05
Inventory, 1 Yr. Growth %	37.87	-0.79	15.94	-6.7	15.1
Net Property, Plant and Equip., 1 Yr. Growth %	18.81	-10.61	-10.21	-4.64	-5.84
Total Assets, 1 Yr. Growth %	-15.24	6.83	14.79	10.66	-5.78
Tangible Book Value, 1 Yr. Growth %	-7.93	-3.33	26.59	16.76	-7.4
Common Equity, 1 Yr. Growth %	-8.2	-3.45	26.49	16.6	-7.48
Cash From Operations, 1 Yr. Growth %	-109.94	-380.56	101.98	90.85	-43.24
Capital Expenditures, 1 Yr. Growth %	48.31	-98.48	350	288.89	-25.71
Levered Free Cash Flow, 1 Yr. Growth %	-177.49	-103	1.42K	169.7	-57.77
Unlevered Free Cash Flow, 1 Yr. Growth %	-175.02	-114.33	396.11	166.14	-56.58
Dividend Per Share, 1 Yr. Growth %	-57.04	-54.6	412.66	32.1	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-19.61	-34.21	8.68	41.99	11.31
Gross Profit, 2 Yr. CAGR %	-16.99	-30.93	15.06	44.64	10.65
EBITDA, 2 Yr. CAGR %	-31.15	-57.89	51.06	149	11.13
EBITA, 2 Yr. CAGR %	-33.94	-63.52	55.9	186.52	12.19
EBIT, 2 Yr. CAGR %	-34.38	-63.71	57.65	189.11	12.23
Earnings From Cont. Operations, 2 Yr. CAGR %	-33.2	-60.84	46.01	159.33	13.56
Net Income, 2 Yr. CAGR %	-33.2	-60.84	46.01	159.33	13.56
Normalized Net Income, 2 Yr. CAGR %	-36.84	-66.03	53.21	203.29	13.37
Diluted EPS Before Extra, 2 Yr. CAGR %	-33.2	-60.84	46.01	159.33	13.56
Accounts Receivable, 2 Yr. CAGR %	-21.79	-23.22	20.86	8.14	1.3
Inventory, 2 Yr. CAGR %	12.05	16.96	7.25	4	3.63
Net Property, Plant and Equip., 2 Yr. CAGR %	14.87	3.05	-10.41	-7.47	-5.24
Total Assets, 2 Yr. CAGR %	-1.82	-4.84	10.74	12.71	2.11
Tangible Book Value, 2 Yr. CAGR %	5.61	-5.66	10.63	21.58	3.98
Common Equity, 2 Yr. CAGR %	5.45	-5.85	10.51	21.44	3.86
Cash From Operations, 2 Yr. CAGR %	-57.99	-47.18	138.05	96.34	4.08
Capital Expenditures, 2 Yr. CAGR %	64.13	-85.01	-73.89	318.33	69.97
Levered Free Cash Flow, 2 Yr. CAGR %	97.84	-84.76	-23.34	585.8	6.76
Unlevered Free Cash Flow, 2 Yr. CAGR %	90.83	-67.22	-15.7	263.37	7.53
Dividend Per Share, 2 Yr. CAGR %	-34.45	-55.83	52.56	160.23	14.93
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-9.24	-21.58	-11.86	14.59	25.16
Gross Profit, 3 Yr. CAGR %	-7.57	-18.21	-7.35	18.44	26.86
EBITDA, 3 Yr. CAGR %	-14.47	-37.66	-7.5	46.89	76.65
EBITA, 3 Yr. CAGR %	-16.44	-43.23	-8.28	50.98	93.96
EBIT, 3 Yr. CAGR %	-15.93	-43.38	-8.08	52.16	95.11
Earnings From Cont. Operations, 3 Yr. CAGR %	-13.11	-41.16	-10.54	45.35	81.93
Net Income, 3 Yr. CAGR %	-13.11	-41.16	-10.54	45.35	81.93
Normalized Net Income, 3 Yr. CAGR %	-16.31	-47.3	-9.62	50.01	101.83
Diluted EPS Before Extra, 3 Yr. CAGR %	-13.11	-41.16	-10.54	45.35	81.93
Accounts Receivable, 3 Yr. CAGR %	-3	-17.97	-1.55	1.81	18.43
Inventory, 3 Yr. CAGR %	14.57	7.6	16.61	2.38	7.58
Net Property, Plant and Equip., 3 Yr. CAGR %	10.78	5.65	-1.57	-8.53	-6.93
Total Assets, 3 Yr. CAGR %	5.51	0.98	1.3	10.71	6.18
Tangible Book Value, 3 Yr. CAGR %	10.98	2.54	4.06	12.63	11.03
Common Equity, 3 Yr. CAGR %	10.57	2.4	3.89	12.51	10.92
Cash From Operations, 3 Yr. CAGR %	-50.58	-20.89	-17.4	121.14	29.82
Capital Expenditures, 3 Yr. CAGR %	47.66	-65.57	-53.41	-35.76	135.13
Levered Free Cash Flow, 3 Yr. CAGR %	7.46	-51.05	-23.06	22.11	170.89
Unlevered Free Cash Flow, 3 Yr. CAGR %	6.26	-19.5	-18.91	23.67	79.01
Dividend Per Share, 3 Yr. CAGR %	-14.15	-42.01	0	45.41	89.19
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.6	-9.33	-2.46	-0.56	-3.23
Gross Profit, 5 Yr. CAGR %	2.84	-6.15	0.89	2.74	-0.53
EBITDA, 5 Yr. CAGR %	1.08	-19.62	7.38	8.48	-0.45
EBITA, 5 Yr. CAGR %	1.17	-23.39	7.24	8.47	-0.58
EBIT, 5 Yr. CAGR %	3.55	-22.15	8.11	8.69	-0.44
Earnings From Cont. Operations, 5 Yr. CAGR %	7.56	-17.65	6.94	6.5	-1.58
Net Income, 5 Yr. CAGR %	7.56	-17.65	6.94	6.5	-1.58
Normalized Net Income, 5 Yr. CAGR %	5.13	-22.94	6.59	6.13	-1.04
Diluted EPS Before Extra, 5 Yr. CAGR %	7.61	-17.65	6.94	6.5	-1.58
Accounts Receivable, 5 Yr. CAGR %	4.39	-5.96	5.92	-8.38	-0.42
Inventory, 5 Yr. CAGR %	7.08	9.12	11.58	6.14	11.24
Net Property, Plant and Equip., 5 Yr. CAGR %	10.23	1.99	1.76	0.2	-3.06
Total Assets, 5 Yr. CAGR %	5.23	6.02	7.57	5.52	1.62
Tangible Book Value, 5 Yr. CAGR %	16.71	9.44	10.84	9.77	4.03
Common Equity, 5 Yr. CAGR %	14.33	8.54	10.55	9.63	3.88
Cash From Operations, 5 Yr. CAGR %	-13.42	-9.53	-7.32	13.8	-9.4
Capital Expenditures, 5 Yr. CAGR %	13.2	-59.07	-26.16	-6.51	-21.82
Levered Free Cash Flow, 5 Yr. CAGR %	70.49	-34.12	-6.12	48.11	-9.82
Unlevered Free Cash Flow, 5 Yr. CAGR %	60.27	-12.27	-3.14	47.1	-9.22
Dividend Per Share, 5 Yr. CAGR %	19.97	-17.76	8.05	5.73	5.73