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CTT Systems Hit by FX and Inventory Swings but Sees 2026 Rebound on OEM and Aftermarket Growth

Story Highlights
  • CTT Systems’ 2025 earnings slumped as currency effects, weak aftermarket spare-parts demand and distributor destocking cut sales and margins.
  • With distributor inventories normalized and OEM build rates rising, CTT forecasts higher aftermarket and OEM volumes in 2026 and a gradual margin recovery.
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CTT Systems Hit by FX and Inventory Swings but Sees 2026 Rebound on OEM and Aftermarket Growth

Meet Samuel – Your Personal Investing Prophet

CTT Systems AB ( (SE:CTT) ) just unveiled an announcement.

CTT Systems reported a weak fourth quarter and full-year 2025, with net sales down 31% in the quarter and 12% for the year, and operating profit almost halved as currency headwinds, lower aftermarket spare-parts demand and distributor inventory reductions weighed heavily on earnings and cash flow. Despite the softer reported figures and a sharply reduced proposed dividend, management stressed that underlying volumes to end customers grew in OEM, private jet, retrofit and non-spare aftermarket segments, and that distributor inventories are now more balanced, setting the stage for higher aftermarket revenues in 2026. The company expects significantly higher OEM volumes next year as Airbus and Boeing ramp up deliveries of A350 and 787 aircraft where CTT systems are installed, while private-jet sales remain volatile but underpinned by partnerships with Airbus Corporate Jets and Boeing Business Jets and several VIP projects slated for late 2026–27. CTT warns that FX will remain a major earnings swing factor even after cost savings and USD-denominated loans, but targets a gradual recovery in margins toward 25% or more, supported by OEM growth, aftermarket normalization and potential new business in cabin humidification retrofits and additional business jet contracts.

The most recent analyst rating on (SE:CTT) stock is a Buy with a SEK172.00 price target. To see the full list of analyst forecasts on CTT Systems AB stock, see the SE:CTT Stock Forecast page.

More about CTT Systems AB

CTT Systems AB is a Swedish aerospace supplier specializing in active humidity control systems for aircraft cabins and fuselages. Its portfolio includes humidifiers and anti-condensation systems sold both as factory-installed options and retrofit solutions for commercial airliners and private jets worldwide, aimed at improving passenger comfort, reducing structural moisture and weight, and enhancing environmental performance.

Average Trading Volume: 10,162

Technical Sentiment Signal: Sell

Current Market Cap: SEK1.97B

For an in-depth examination of CTT stock, go to TipRanks’ Overview page.

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