Set for continued growth in Q2 and beyond
Today, we hosted CTT's CEO Henrik Höjer, at ABGSC's Investor Days. Mr. Höjer reiterated the positive outlook comments provided during the Q1 report. First, near-term growth should continue both q-o-q and y-o-y as CTT guides for 28-37% sales growth y-o-y in Q2'23e, supported by a continued ramp-up in aftermarket sales. Second, CTT has been able to offset the negative impact from both inventory adjustments as well as the previously mentioned threat of a 'copy-cat' in the US in its aftermarket business due to 1) high air travel demand, 2) price hikes and 3) spare parts sales. Third, Boeing and Airbus continue to ramp-up production rates and Mr. Höjer believed that both OEMs are more determined than before when it comes to meeting their targets (B787 to 5 per month by YE'23, 10 per month by 2025/2026, A350 6 by YE'23, 9 by YE'25, B777X first delivery in 2025). Finally, the CEO remained optimistic on higher selection rates as well as the private jet potential, noting that Airbus is actively promoting their offering, which should be supportive for sales to other platforms. CTT is also active in stepping up marketing efforts further by attending aerospace exhibitions.
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