BUSINESS OVERVIEW 2010

2

Lufthansa started operating the A380 with CTT’s Cair™ system in the first-class cabin during 2010.

22

CTT in briefCTT Systems AB is a Swedish technology group active in the aviation industry, specialising in humidity control systems for commercial aircraft. Customers include both aircraft manufacturers and airlines. The parent company is headquartered in Nyköping, Sweden. It is listed on the Nasdaq OMX Nordic Exhange Stockholm, Small Cap, since 1999.

333

CTT in brief 2

The year in brief 4

Review by the President 6

Cair™ on tour with Lufthansa 8

Aftermarket takes shape 10

Product overview 12

Pent-up demand offers golden

opportunity for Cair™ 16

Market overview 18

Customer and product overview 20

Competition 22

CTT Production 23

Bribo Mekaniska 25

Catron Elektronik 26

A350 passes new milestone 28

Dehumidifier system 30

Humidifier system 31

The CTT share 32

Background, organisation

and quality system 34

Five-year summary – The Group 36

Senior executives 37

Board of directors 39

CONTENTS

Order intake Net turnover Profit/loss

06–07 07 H 08 09 10

20

SEK mn.

-20

-40

40

60

80

100

120

The year in brief

OUR mISSION IS TO CREaTE a BETTER ClImaTE BOTh INSIdE

aNd OUTSIdE ThE aIRCRafT, WhIlE pROVIdINg fINaNCIal aNd

ENVIRONmENTal BENEfITS TO ThE aIRlINE. ThE kEy IS TO BalaNCE

ONBOaRd hUmIdITy lEVElS. OUR TEChNOlOgy ImpROVES paS-

SENgER COmfORT, REdUCES ThE ENVIRONmENTal ImpaCT Of

aIR TRaVEl aNd CUTS aIRlINE RUNNINg COSTS, all aT ThE SamE

TImE. WE Call IT “hUmIdITy IN BalaNCE”.

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Business conceptCTT’s business concept is to solve the two moisture problems encountered in commercial aircraft – prevent-ing condensation between the cabin and the outer skin, as well as raising the cabin humidity level to enhance comfort and well-being for both crew and passengers.

StrategyCTT’s strategy is to consolidate its position as the lead-ing provider in the market through ongoing develop-ment of products in the Dehumidification and Humidi-fication product sector.

Marketing communications will emphasise the humid-ity-related problems that currently prevail in aircraft. CTT will take a pro-active stance on the issue of health and comfort for passengers and crew.

By entering into alliances with other subcontractors in the aviation industry, the company aims to develop appealing and competitive system solutions for manu-facturers as well as airlines.

The long-term goals in terms of volume will be achieved by supplying aircraft manufacturers directly

missionOur mission is to create a better climate both inside and outside the aircraft, providing financial and environ-mental benefits to the airline. The key is to balance on-board humidity levels. Our concept improves passenger comfort, reduces the environmental impact of air travel and cuts airline running costs, all at the same time. We call it “humidity in balance”.

VisionCTT’s vision is that all airlines should be able to offer the same comfort level as normal indoor climate in the cabin, in terms of air humidity.

getting the message acrossSignificant media coverage was achieved during 2010. International trade press featured CTT in a number of ways. In particular, the lufthansa deal generated a great deal of publicity.

International Media Coverage 2010

• CAIR™mentionedinseveralLufthansaA380 press releases over the year.

• ZD*fullpagearticleinArabianAerospace magazine at the MEBA, Dec 2010.

• CAIR™articleonwww.ainonline.comin November 2010.

• CAIR™/LufthansaA380articleinMetroand www.metroteknik.se October 2010.

• ZD*fullpagearticleinRegionalInternational in connection with 2010 General Assembly of ERA in September 2010.

• ZD*articleinAircraftTechnology, August-September 2010.

• Article in Aerospace International relating toourstandattheAircraftInteriorsExpoand LH A380, August 2010.

• CTTmentionedinarticleinWorldAirnews, September 2010.

• CAIR™includedinarticleinAircraftInteriors InternationalMagazine,September2010.

• CAIR™articleinFarnboroughAirshowNews, July 2010.

• CAIR™andLHA380articleinFarnborough Flight Daily News, July 2010.

• CAIR™articleinrelationtoA350inAviation WeekFarnboroughShownews,July2010.

• FullarticleinSatair’smagazineUptimes. July 2010.

• CAIR™includedinarticleinAeroInternational Magazine, July 2010.

• CAIR™fullpagearticleinAerospaceInternational in relation to LH A380, June 2010.

• CTTfullpagearticleinFlightInternational, June 2010.

• CTTmentionedinEmeraldMedia’snewsletter fromHamburgAircraftInteriors,June2010.

• ZD*mentionedinarticleonANZinAirways, May 2010.

• CAIR™articleinFlightDailyNewsfrom HamburgAircraftInteriors,May2010.

• CAIR™articleinAviationWeekSingapore Shownews, February 2010.

*ZD = abbreviation for Zonal Drying™ System

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Review by the president

We started 2010 in high spirits, with good news from Seattle that the Boeing 787 test flights were procee-ding to plan. The month of May saw one of the year’s highlights, as Lufthansa took delivery of its first A380, using CTT’s humidification system Cair™ in first class. However, challenges mounted up during the autumn with a low rate of deliveries, particularly in respect of the VIP systems. In November, Boeing suf-fered a serious incident during a test flight with the 787, with further delay to our programme as a result.

delays in the Boeing 787 programme a setback to CTTThe delays to the 787 project reduced CTT’s turnover during the year, with subsequent impact on the cash flow. Having received positive news regarding the test flights throughout the year, CTT had ordered materials from its suppliers for a planned production increase during the autumn and, above all, to enable deliveries of initial spare parts. When Boeing, on two occasions, postponed the date for the first delivery, this resulted in an unwanted accumulation of parts for the 787.

However, optimism regarding the 787 program has recently returned, at least in part. All test aircraft are back flying and Boeing now plans to deliver the first 787 during the third quarter of this year. Even though the aircraft project is now more than three years over-due, most orders remain firm, with the order book con-taining an impressive 843 orders. This is a testimony to the strength of the demand for the 787. I am confident

that over time, this project will be a commercial success not only for Boeing but also for CTT. However, we need to show a little more patience, until all the new techno-logy in the 787 has been tested out, before the aircraft can be certified and delivered to its first customer. Breakthrough for Cair™ in the airline industry There are many indications that our Cair™ system made its breakthrough into the airline market when Lufthansa took delivery of its first A380 aircraft. We could not have wished for a better reference among the airlines. During the year, Lufthansa’s advertising cam-paign made extensive references to the excellent first class cabin (including the air humidification) when introducing new A380 destinations. Over the years, we have been very successful with Cair™ in the VIP market, with deliveries to 33 aircraft. With the help of Lufthansa, I believe we can now achieve similar suc-cess for the system among the world’s major airlines.

Design work is also continuing on Cair™ for the new Airbus A350. The first prototypes have been delivered and validation tests will begin at the end of 2011. This is also the year when the first A350 customers will specify their aircraft and we expect that one or two airlines will include our system in their configurations.

The market penetration for Cair™ among the world’s best reputed airlines has just begun.

Torbjörn Johansson, VD

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President Torbjörn Johansson together with the CTT board (chairman Johan Lundsgård is missing from the photo)

BriboBribo had a strong recovery during 2010, increasing turnover by 30% and returning the company to its normal level of profitability. The marketing effort that took place during the business downturn resulted in a number of new customers. In combination with a return to business as usual with existing customers, the company now has excellent prospects. We are very proud over Bribo, which has emerged stronger from the recession.

CatronWhen acquiring Catron, we had hoped that the compa-ny would deliver a better financial result during its first year as part of CTT. However, a change of manage-ment, a necessary upgrade of the quality management system and delays to a development project are factors that have held the company back. Restructuring the company was nevertheless necessary and during 2010, the foundations have been laid for a gradual expansion. Catron is still dependent on orders from aerospace company Saab, but efforts are underway to expand the customer base. Catron can look forward to an exciting transformation in the coming years.

Improved order levels for 2011 During 2010, CTT was still suffering the effects

of the recession. Order volumes were low both for

retrofits of Zonal Drying™ System and for Cair™ VIP

during 2009 as well as 2010. This affected the turnover

during 2010. However, the tide turned towards the

end of the year and we noticed how the VIP market

in particular recovered. During the first few months

of 2011, we have already received Cair™ orders for

three aircraft. With several promising enquiries received

and quotations tendered, this positive trend seems

to continue for the rest of the year. The market for

Zonal Drying™ System also appears to be developing

favourably. Demand and financial results in the airline

industry are rising. At the same time, fuel costs are on

the increase. This has a positive inf luence on the sales

of Zonal Drying™ System, as the system helps reduce

fuel consumption.

The single most important factor for 2011 is the

expected start of deliveries for Boeing 787. This will

not only increase our supply of systems to Boeing, but

it will also start a whole new and very significant revenue

stream from the sale of spare parts.

Finally, I would like to thank the dedicated staff of the

CTT Group for achieving so well during yet another

year in a tough economic environment. Let us hope

that this year will be better, with Boeing successfully

delivering its first 787 aircraft, enabling all of us at

CTT to enjoy the coming years of profitable growth.

Nyköping, March 2011

Torbjörn Johansson

President

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Cair™ on tour with lufthansa’s Superjumbo

The Arlanda stop-off was part of Airbus and Lufthansa’s exhibition tour of the Nordic capitals. From Copenhagen via Stockholm, the journey continued onwards to Helsinki and Oslo. CTT and Lufthansa’s cooperation, quite literally, got off to a flying start.

Lufthansa is the first global airline to install humidifi-cation systems in a regular commercial aircraft. Humidi-fication is the first stage in offering first class passengers a real VIP experience.

Trend setters on many levelsThe A380 is setting new trends in everything from fuel economy and environmental strategy to noise levels, comfort and air quality.

With a length of 73 metres, a height of 24 metres and a take-off weight of 560 tonnes – equivalent to 110 fully grown elephants – this is the world’s largest and hea-viest passenger aircraft. The wingspan of almost 80 metres offers exceptional aerodynamics. The wings are as large as three tennis courts, enabling slower and more comfortable landing. The runways at Oslo’s Gardermoen and Stockholm’s Arlanda airports are more than adequate. However, Arlanda currently only has one gate that can accommodate all 526 passengers onboard Lufthansa’s version of the Superjumbo. The maximum number of passengers in the A380 is 853.

Environmentally, the A380 also raises the bar sub-stantially. Lufthansa’s flagship craft is quieter than other planes, consumes less fuel, thinks for itself and automatically applies the brakes after landing. In the air, it only consumes three litres of aviation fuel per 100 passenger kilometres.

deafening silenceIn terms of noise, the A380 is in a completely different league. The first thing the spectators at Arlanda noticed was how quietly the “whispering giant” descended over the runway. The A380’s new Rolls Royce engines run extremely silently, despite the fact that they generate as much power as 3,500 modern cars. On the inside, the noise level is almost 30% lower than in conventional aircraft, comparable to private VIP jets. You hardly notice that you’re in the air.

Unbeatable comfortThe first class cabin offers an almost unimaginable level of comfort. All first class passengers have their own spacious wardrobe. The bathrooms are nearly five times the size of normal first class lavatories. There are cocktail tables, adjustable dinner tables, ottoman couches, discreet reading lamps and electri-cally-operated roller blinds. The eight first class seats, Lufthansa’s widest ever, function intuitively and can be transformed, at the push of a button, into detachable beds with mattresses of over two metres in length. The passengers can virtually fly in complete privacy and are able to work, rest and sleep in peace.

peace and quiethave more experience than most, contributed their know-how. Conclusion: The highest priority is peace and quiet. The more often and the longer you fly, the more important this is.

The airlines meet this need in different ways. Some focus on wide seats, fold-out beds and entertainment to help the passengers relax. Others offer internet

IN ThE dayS lEadINg Up TO ThE 2010 SWEdISh gENERal ElECTION,

lUfThaNSa’S NEW SUpERjUmBO glIdEd IN OVER STOCkhOlm’S aRlaNda

aIRpORT aNd laNdEd TO ThE aCCOmpaNImENT Of ClICkINg CamE-

RaS BEfORE ThE EyES Of ThOUSaNdS Of aVIaTION ENThUSIaSTS aNd

a gROUp Of WIdE-EyEd jOURNalISTS. a hISTORIC mOmENT, NOT jUST

fOR lUfThaNSa aNd aIRBUS, BUT alSO fOR CTT, aNNOUNCINg ITS

ENTRaNCE INTO ThE NORdIC aRENa .

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connections and live TV so that better use can be made of the time in the air. Lufthansa has invested in all of these features, as well as good air quality.

flying humidorHistorically, the dry air in the cabin has been a great concern. Ironically, in the problem is greater in first class, where the passenger seats are much more spread out, than in other parts of the aircraft. While the exhaled air from the majority of passengers in business and economy class contributes to keeping the humidity at an acceptable level, the relative humidity in the first class compartment drops as low as five per cent after only two to three hours of flying time.

Well-being as a competitive advantageCair™ maintains humidity in first class at around 20 percent, which is a considerable improvement. Lufthansa has taken this into consideration. Not just because a balanced humidity is, in itself, pleasant, but also because it reinforces the effects of other improvements. Good food and drink tastes even better. You sleep better, feel better and wake up feeling more refreshed. The

problems associated with dry skin, dry eyes, irritated respiratory system and jetlag are reduced. Once the flight is over, the feeling of well-being stays with you as a reminder for the next time you choose an airline.

Trend settersCair™ should therefore be considered a strategic mar-keting tool for the airline, in the same vein as gourmet cuisine, comfortable beds and in-flight entertainment. Now that the airline industry is picking up again, airlines need to find new tools when vying for the passengers’ custom. Being able to offer a good onboard climate is a clear competitive advantage.

What we are seeing is likely to be the start of a trend. At first, it was the owners of private jets and VIP aircraft who invested in humidification. Now, Lufthansa will be the first global airline to offer a higher humidity level as standard on a normal commercial aircraft.

There are many winners in the process. The airline, which is given a competitive head-start. The cabin crew, whose working environment is improved. The passengers, whose health, safety and well-being is the main focus of the airline. And last but not least, CTT and its shareholders whose investments are now really starting to pay off.

The A380 project has cost approximately EUR 11 billion to develop and has taken some 10 years to complete. Airlines such as Emirates, Qantas and Singapore Airlines have had the aircraft in service since 2008. However, the first time Sweden was paid a visit by Lufthansa’s new pride and joy was in the autumn of 2010.

””Why Cair™? Everybody notices how you have a dry nose and dry eyes when flying. This will really mean an improvement in terms of onboard comfort, especially when sleeping on night flights”Christina Foerster, general manager, product management and innovation at Lufthansa explains the reason for selecting CTT’s Cair™ system in their A380 new first class.

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aftermarket takes shape

Peter Landqvist is manager of Customer Support. His department started on a small scale during 2010 and is expected to generate significant revenue as early as next year. He has been a pivotal figure during the years of building up CTT’s organisation has been developed and has hands-on experience from most of the company’s business processes.

added sales – I believe that the focus of the customer support function should be on future sales. If we meet or exceed the customers’ expectations, our sales team can more easily sell products for other types of aircraft. This is the basis for our customer support. We have an absolute commitment to serving the customer accor-ding to contracts and warranties, but we should also be a commercial organisation, says Landqvist.

Initial provisioning (Ip) In the long term, spares will become CTT’s largest revenue stream. Boeing recommends the airlines to buy a certain number of spare parts based on the num-ber of aircraft in operation. The parts should be with the airline 40 days before it takes delivery of its first aircraft.

– At the moment, we are waiting for Boeing to start delivering its Dreamliner 787 where our Zonal Drying™ System is standard and our humidification systems are optional, says Landqvist.

– This business model will work in our favour. We have very strong bonds with the aircraft manufacturers and they are by the day growing stronger. Boeing wants its suppliers to be successful and they are very interested in how we develop our operation, says Landqvist.

2010 was a successful year for the customer support department, with the sales of spares to systems in operation in line with targets. However, as mentioned, the Boeing project is lagging behind.

The orders to the customer support department can be divided into three categories.

The first is consumables, such as filters and other parts, which need changing at regular intervals. This constitutes the bulk of the work today and this is also what will deliver the largest revenue stream for CTT in the long term.

The second category is repairs. Equipment received from the end user is examined, repaired and a report is written. The focus is on reliability.

WITh INCREaSINg NUmBERS Of SySTEmS IN ThE aIR, ThE SIgNIfI-

CaNCE Of ThE afTERmaRkET INCREaSES. ThIS maRkET – SpaRE paRTS,

SERVICE aNd addITIONal ORdERS – IS WhERE CTT ExpECTS TO haVE

ITS mOST pROfITaBlE BUSINESS IN ThE lONg TERm. BUIldINg OUR

CUSTOmER SUppORT faCIlITy STaRTEd ON a mOdEST SCalE dURINg

2010 aNd WIll pICk Up paCE dURINg 2011. ThIS IS WhEN WE ExpECT

BOEINg TO STaRT dElIVERIES Of ThE 787 TO ThE aIRlINES.

Peter Landqvist, aftermarket manager Spare Humidifier Evaporation PAD being packaged for delivery.

10

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The third category is custom orders, for instance when CTT’s system is affected by other equipment onboard, requiring modifications of our system. This involves a great deal of testing, analysis and design work.

Cooperation with design and manufacturingOn paper, the customer support department still only consists of a small number of staff.

– But this is not the whole story. We also use the resources of the design, manufacturing and testing departments extensively. When a customer requests a modification of an existing system, it is the design department that carries out the work, Landqvist points out.

Quality plan and routinesAll activities are carefully regulated by EASA, the Euro-pean civil aviation authority, and FAA, its American counterpart. CTT’s quality management organization and quality management plan are approved by EASA, giving a step-by-step approach to follow when repairing or modifying a piece of equipment or a system.

– We are an approved manufacturing and repair organisation according to EASA (so-called POA part 21 and part 145). This means we can repair products manufactured by ourselves. However, we are not a design organisation. In this respect, we cooperate with Lufthansa Technik. Simply put, everything we design is approved by Lufthansa Technik and they also take on the responsibility, says Landqvist.

The usual routine– Our systems are built ‘on condition’, which means that they can be used until they malfunction.

All enquiries, complaints or fault indications go to Customer Support. If a repair is needed, the airlines uninstall the part themselves and replace it with a spare part from their own stock. The faulty component is then sent to CTT. Customer Support evaluates the problem and repairs or replaces the part.

Stock keeping at CTT means maintaining a fine balance.

– Boeing requires us to have agreed stock levels of parts so that we can deliver when the customers receive their aircraft. When delays to the aircraft programme occur, we have to make a judgment and use the spares for manufacturing instead. Boeing makes inspections, so the parts have to be available, but at the same time we don’t want to keep unnecessarily high stock levels that tie up capital.

plans for 2011 When Boeing starts deliveries of the 787 during the third quarter of 2011, this will be tremendously important to us, says Landqvist.

– This means that we will go from being a small supplier for some 450 aircraft, to become a supplier to airlines all over the world. In a few years’ time, we will have delivered 1000 systems and be working all over the globe. For this reason, we have chosen to work with Satair, a major distributor of spare parts. Satair has repair and spares stations all over the world and can service large areas.

Danish company Satair has been around for 20-25 years and is the largest privately owned distribution company for spares in the aviation industry. Satair will take responsibility for CTT’s spares distribution all over the world. The first step is Asia, as this is where the ten first customers are.

– Satair will install a test rig in Singapore, delivered by CTT, from where the whole of Asia can be served. The next step will be a test rig in the United States, serving North and South America.

24 • 7 • 365We are also building a communication network so that customers all over the world only have one number to call, to Satair, for issues regarding spares. Technical enquiries are connected to a number at CTT with 24-hour service. We are committed to delivering support 24 hours a day, 365 days a year. This is a big step for Customer Support and we will gradually increase our staffing levels, concludes Landqvist.

Zonal Dryer assembled following repair

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The systems of the future are here

ThE aVIaTION INdUSTRy EVOlVES CONTINUOUSly, WITh aIRlINES lOOkINg

fOR SmaRT SOlUTIONS TO ImpROVE ThEIR aIRCRafT. ONBOaRd COm-

fORT IS aN ImpORTaNT aREa WhERE ImpROVEmENTS CaN pROVIdE aN

ImpORTaNT COmpETITIVE adVaNTagE. EQUally SIgNIfICaNT IS ThE aIm

Of CUTTINg fUEl CONSUmpTION, WhICh REdUCES RUNNINg COSTS aNd

ENVIRONmENTal ImpaCT. ThIS IS WhERE CTT’S hUmIdIfICaTION aNd

dEhUmIdIfICaTION SySTEmS COmE IN, pROVIdINg SOlUTIONS ThaT

pREVENT CONdENSaTION aNd pROVIdE hUmIdIfIEd aIR TO ThE CaBIN,

INCREaSINg ThE WEll-BEINg Of BOTh paSSENgERS aNd CREW. WE Call

IT “hUmIdITy IN BalaNCE ”.

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svart = 85%PMS 7545

turkos C 93M 0Y 24 K 0PMS 313

ljus-blå, 40% av:C 100M 28Y 24K 0PMS 277

svart 85 % PMS 7545 (=mörkgrå)

Röd TurkosC 0 93M 83 0Y 100 24K 16 0

PMS 173 PMS 313

typsnitt helvetica neue light italic 19 p

85% svartPMS 7545

rödC 0M 83Y 100K 16

PMS 173

Zonal Drying™System

Cair™

Crew Rest Humidifiers

Flight DeckHumidifiers

A380 B787 A350

The Zonal Drying™ prevents condensation in aircraft by combat-ing the root cause. Less condensation means less weight, reducing fuel consumption, emissions and corrosion etc. In the long term, reduced condensation means longer lifetime for aircraft components and insulation.

Cair™ increases humidity and provides humidified air to the cabin, improving passenger comfort. They feel better, sleep better and arrive feeling refreshed.

Crew humiDifiers helps increase humidity in the flight deck and crew restcompartments, creating a more pleasant working climate and improving the well-being of the crew.

Cair™ ViP is a humidification system adapted for the strict requirements of large private jets. It can also be retrofitted to VIP aircraft.

2003 Airbus A380 – Humidification of crew rest areas as an option

2005 Boeing 787 – Zonal Drying™ System as standard– Humidification of crew rest areas and flight deck as an option

2008 Airbus A350 – Zonal Drying™ System as an option– Humidification of crew rest areas and flight deck as an option– Humidification of cabin with Cair™ as an option

key facts about the OEm contracts

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Normally the relative indoor humidity in homes and offices is between 50% and 60%. In an aircraft this drops quickly to 5-15%. This is because half of the air is drawn in by the engines at a height of around 10,000 metres, where the air is extremely dry. So the longer the flight continues, the drier the cabin air becomes and the more evident the negative symptoms become for the passengers and crew.

Skin and mucous membranes dry outWhen people are subjected to air humidity lower than 20%, they experience a range of different problems. These include sleep disorders, tiredness, dry eyes, dehydration of the skin and mucous membranes, as well as the fact that food doesn’t taste as good in a dry environment. Other problems include the need to remove contact lenses, increased likelihood of colds, a greater risk of viral infections, as well as problems with dry skin and allergies. This is

BalaNCEd aIR hUmIdITy pROVIdES a NUmBER Of SIgNIfI-

CaNT ImpROVEmENTS TO ThE aIRCRafT. ThESE INClUdE

BETTER fINaNCIal aNd ENVIRONmENTal pERfORmaNCE,

aS WEll aS maINTENaNCE aNd SafETy BENEfITS.

adEQUaTE aIR hUmIdITy IS alSO ImpORTaNT fOR ThE

WEll-BEINg Of ThE paSSENgERS aNd ThE hEalTh Of

ThE CREW. CaIR™ haS BEEN dEVElOpEd TO ImpROVE

COmfORT ONBOaRd By hUmIdIfyINg ThE dRy CaBIN aIR.

particularly exasperating for cabin crew, who are constantly exposed to the dry air. Increasingly longer flights, now with durations of up to 18 hours, only aggravate the symptoms further.

feel better with humidificationCair™ humidifies the dry cabin air and substantially alleviates all of these problems. Passengers have more energy and feel less tired when they reach their desti-nation. It is scientifically proven that passengers feel better with higher humidity on board. In addition to the improvements in comfort for all onboard and better working environment for the cabin crew, the system has other advantages. The ability to humidify air during flights is a strong competitive advantage for airlines, particularly when considering the growing demands for high levels of cabin comfort. Offering flights with reduced environmental impact is yet another competitive advantage.

85% svartPMS 7545

rödC 0M 83Y 100K 16

PMS 173

Crown Area Crown Area

With Cair™

Increased humidity in first class section + 25%

Increased humidity in economy section +15%

Crown Area Crown Area

Average cabin humidity without Cair™

RE

LA

TIV

E C

AB

IN H

UM

IDIT

Y, %

30.025.020.015.010.0

5.00.0

Average cabin humidity with Cair™

First/Business Economy

14

svart = 85%PMS 7545

turkos C 93M 0Y 24 K 0PMS 313

ljus-blå, 40% av:C 100M 28Y 24K 0PMS 277

15

svart 85 % PMS 7545 (=mörkgrå)

Röd TurkosC 0 93M 83 0Y 100 24K 16 0

PMS 173 PMS 313

typsnitt helvetica neue light italic 19 p

Increased weight of aircraft Condensed water increases the weight of the aircraft by

up to half a tonne. This unwanted weight increase means

higher fuel consumption with negative effects for both

transport economy and the environment.

Electrical disturbances Large parts of the electrical wiring in an aircraft is

located in areas where condensed water accumulates.

This can potentially short-circuit sensitive equipment,

resulting in delays and expensive repairs.

CorrosionCorrosion causes the airlines additional expense, as struc-

tural parts often have to be replaced at major maintenance

checks and overhauls.

Compromised insulation systemWater gets trapped in insulation, making the material heavier

and reducing its functional capacity. Passengers can often

feel a cool draught from windows and doors. Mould can

also flourish in wet insulation. The insulation in an air-

craft must therefore be replaced at regular intervals.

Rain in the planeSometimes passengers can be exposed to water dripping

from the ceiling during take-off and landing. Condensed

water gathering on ceiling panels causes this condition,

known as ‘rain in the plane’.

CONdENSaTION INSIdE aIRCRafT haS

BEEN a pROBlEm IN ThE aVIaTION

INdUSTRy fOR a lONg TImE. IT

OCCURS WhEN paSSENgERS’ mOIST

ExhalEd aIR makES CONTaCT WITh

ThE INTERIOR Of ThE aIRCRafT

fUSElagE. CONdENSaTION WaTER

IS gaThEREd ON ThE INSIdE Of ThE

fUSElagE, RESUlTINg IN a WhOlE

RaNgE Of pROBlEmS, SUCh aS:

a successful productIt may come as a surprise to many that CTT is the sole

supplier of humidifiers for Airbus and Boeing’s new

aircraft: the A380, A350 and 787 respectively. There

have been humidifiers in the cockpit and the cabin

crew’s private section before, but CTT, with its simple,

smart system, has conquered the entire market and

beaten off all the competition. We also believe that

there is an opportunity to integrate this technology

into existing aircraft.

Since 2007 Crew Humidifiers have been fitted to the

Singapore Airlines A380, for example, and have offered

reliable service for two and a half years. In other words,

this is a successful technology, which is here to stay.

market leader for VIp aircraftSince 2001, when we sold our first system, we have

focused on developing solutions for large private jets.

Today, the Cair™ VIP system is the market leader and

can be fitted to the BBJ, ACJ, A320, A319, 767, 747,

A330 and A340.

Our Cair™ VIP system has been fitted, with our assistance,

by most large completion centres in the world, where the

system has been certified as part of the complete Supple-

mental Type Certificate issued for the refurbishment of

the aircraft. Cair™ is also available as a separate system

for retrofit installation.

15

B767

A330

BBJ1 / BBJ2 ACJ / A319 / A320

A340

B747

CTT operates in the market segment for large private aircraft.

– The trend for this market segment is extremely positive. There is a pent-up demand for modifications of aircraft for this sector. Both Boeing and Airbus have their order books filled. For instance, Boeing will be delivering its first six 747-8 to VIP customers and these are highly interesting to us, says Ulf Liljenberg, vice president of sales and marketing.

Since the first delivery of a VIP system in 2001, CTT has delivered 35 systems.

– Of course there is competition, but we estimate that we have about 95% of the market for large VIP aircraft where the owners have opted for humidification, says Liljenberg.

different buying processCair™ VIP is a topic of discussion between VIP aircraft owners and something that many of them want. Most of the new projects have already specified our system for installation, which is highly unusual as most options are marketed by completion centres.

When purchasing one of these aircraft, the customer buys an “empty” aircraft from Boeing or Airbus. A completion centre is then contracted to design

WhIlE ThE RECESSION RapIdly dEflaTEd ThE VIp maRkET, IT

CamE BaCk agaIN jUST aS QUICk. ThIS mEaNS CTT NOW haS

a gOldEN OppORTUNITy. hUmIdIfICaTION IS hIgh ON ThE

WISh-lIST fOR ThE NEW ERa’S pRIVaTE jET OWNERS. CaIR™ IS

ThE fIRST BRaNd NamE USERS USUally haVE IN mINd, WhaT IN

adVERTISINg RESEaRCh IS REfERREd TO aS ‘TOp Of mINd’.

Cair™ is available for the following aircraft types:

A318,A319,A320,A321,A330-200/300,A340-200/300/500/600,BBJ1/2/3

(-700/-800/-900),Boeing767-200/300/400,747-400/-8and777-200/300.

(AlmostexclusivelylargeVIPaircraft)

pent-up demand offers golden opportunity for Cair™

B777

16

the interior. Based on the completion centre’s sugges-tions, the customer decides how the interior should be designed and selects optional equipment, for instance Cair™ VIP.

Influencer and decision-maker– For this reason, our target group is both the aircraft owner as well as the completion centre, says Liljenberg.

– We can conclude that our marketing effort is star-ting to pay dividends. In combination with a positive development of the market as a whole, we look very optimistically at the growth opportunities in our seg-ment over the next few years.

The typical owners of large private business jets are, according to Liljenberg, extremely wealthy individuals from the Middle East, Russia and China, as well as a few heads of state.

The technical challenge with large VIP aircraft is that there are so few passengers onboard, which results in drier air.

– Paradoxically, the need for humidification is even greater here than in regular passenger airliners. In addition, private customers are normally aware of the health benefits and are keen to use our system to reduce the risk of airborne virus infections

Commercial market hot on the heels– There is a close connection between the VIP market and the first class cabins of commercial airlines. VIPs with their own aircraft also travel with commercial airlines, and when they do, they usually travel first class. An airline that can offer nearly the same stan-dard as a VIP jet stands to benefit.

– Cair™ is a sales argument on par with flat beds and video-on-demand and can be marketed in the same manner, concludes Liljenberg.

pent-up demand offers golden opportunity for Cair™

BBJ

B747-8

B777

B787

A318

A319

A320

A330

A340

A350

A380

20

8

1

13

9

14

1

16

3

8

1

VIP aircraft from Airbus and Boeing on order but not delivered, as per 2010-12-31:

17

market overviewOne of the best years in aviation; 2010, the year of recoveryLast year was very interesting for the airline industry. At the beginning of the year, the industry was concer-ned about the impact the recession was having on the market. IATA’s first forecast for the airline industry’s result for 2010 indicated a significant loss. However, passenger numbers started to climb rapidly, until the Icelandic volcano started to spread its ash throughout the airspace. The ash cloud created enormous losses, particularly to the European airlines. Then came the summer and with it the Farnborough Air Show, and suddenly there was no more talk about the recession. Airbus and Boeing received 461 orders during the show and in addition, several lessors returned to the market, having kept a low profile for some time. The increase in passenger numbers continued and during the summer, IATA changed its forecast from a USD 2.8 billion loss to a 2.5 billion profit for the industry. The January 2011 forecast for the full year of 2010 in-dicates a record 15.1 billion result and an increase in passenger numbers of 8.2%, with new orders to Boeing and Airbus totalling 1269 (573) aircraft. In summary, 2010 can be characterised as the year of recovery, but this was completely unexpected.

The greatest event for CTT during 2010 was, without compare, the introduction by Lufthansa of our Cair™ system in first class.

Outlook for 2011The newly found optimism continues to dominate the forecasts for 2011. IATA’s forecast for the industry in-dicates a USD 9.1 billion result. The reason for esti-mating a lower result in 2011 than in 2010 is the rising price of oil, the effects of which are difficult to judge. Passenger numbers are expected to increase by 5.3%, which can be considered normal in a historical context. The geographical areas showing the greatest growth potential for 2011 are Asia and North America.

A number of important events, that should benefit the industry, are expected during 2011. During the third quarter, deliveries of the Boeing 787 will start and in addition, the first Airbus 350 customers will finalize the specification of their configurations during the year. Both these events will be of great importance to CTT, with Boeing and Airbus both having large order books, 847 orders for Boeing 787 and 583 orders for Airbus A350.

The Zonal drying™ system marketWith favourable market conditions for the airlines, these are now more willing to commit to long-term investments. Combined with rising fuel costs, Zonal Drying™ should attract more customers, as it helps reduce fuel consumption. In addition, interest for the system is growing in emerging markets such as China, Latin America and India. Airbus’ decision to offer a new and more fuel-efficient variant of the popular A320 aircraft, designated A320 NEO, is also very interesting for us, as Zonal Drying™ could play an important part here.

18

19

market for Cair™The media attention surrounding Lufthansa’s intro-duction of A380 with our Cair™ system in first class exceeded all expectations. Combined with our own intensive media work during 2010, mainly concerning the Cair™ and A350 options, this resulted in a large number of articles about CTT and our products in the industry trade press.

A350 optionsAirbus’ first A350 customers will, at the beginning of 2011, finalize the specifications for their new aircraft. We believe this will decide the future market poten-tial for Cair™ in the A350. We will therefore intensify the frequency of our meetings with representatives for the airlines concerned and we will also put more effort into our media work. A good result with Cair™ in the A350 should also create inroads to the A380. Our primary target group is the airlines that offer first class cabins in this and other aircraft types. We are pleased to conclude that Cair™ has achieved a favourable position in the market and has the potential to establish itself as a standard system for first and business class, comparable with other amenities such as today’s flatbeds.

The VIp aircraft marketFollowing a period with few developments, demand from this market segment has now started to pick up. Towards the end of 2010, several aircraft were placed with completion centres around the world for outfitting. 2011 seems to turn out a very good year for the sec-tor and in addition, Boeing will deliver its new Boeing 747-8, where eight are on order as VIP aircraft. Out of these eight, five or six will be delivered during 2011 and 2012. We have already seen three Boeing 747-8 being contracted and our Cair™ is studied by most users for potential implementation. We expect a very exciting year in this sector.

Vice president, sales and marketing, Ulf R. Liljenberg

aircraft type Existing Backlog Change 2010

A380 41 234 +32

A350 0 583 +78

B787 0 847 -4

19

Zonal Drying™ System

aircraft typeBoeing 737

Boeing 757

Boeing 767Boeing 747Boeing 777BBJA320/A321

A330A300MD80MD11CRJ-100/200

Total ordered99

71

32181

61

942

3366

387

delivered92

71

32101

47

942

3366

358

CustomersSterling, Hapag-Lloyd, Air Berlin, Transavia, Luxair, Sun Express, Excel Airways, Jet2.com.Icelandair, JetAviation, First Choice, Thomas Cook, Monarch, Continental, Jet2.com, Tui Fly Nordic.Martinair, KLM, JetAviation, Monarch, First Choice, Air New Zealand.Lufthansa.Air New Zealand.Jet Aviation.First Choice, Monarch, Martinair, My Travel, Air New Zealand, Thomas Cook, Novair.Emirates, LTU, Monarch, My Travel, TAP.Monarch.Austrian.KLM, Swiss, Martinair.Lufthansa Cityline, Adria Airways, Tyrolean/Lauda, Austrian.

as per 2010-12-31Cair™

aircraft typeBoeing 767Boeing 747BBJA340A330A320A319A380

Total ordered21

146345

15

50

delivered21

1463434

37

CustomersAAC, Jet Aviation.

Jet Aviation.

Lufthansa Technik, Jet Aviation, AAC.

Jet Aviation, Qatar, Air Mauritius, Baysys Technologies, Gore.

Qatar, Lufthansa Technik.

Jet Aviation, Airbus Corporate JetCentre, AMAC, Comlux.

Fokker, Airbus Corporate JetCentre, AAC.

Lufthansa

as per 2010-12-31

Customer overview as per 2010-12-31

20

Cair™ VIp Customers

Customer overview

Zonal drying™ System Customers

Cair™ Customers

Crew humidifiers Customers - OEm

OEm

OEm

For installation in the crew rest c ompartments (Crew Rest Humidifiers)

For installation in the cockpit(Flight Deck Humidifiers)

787 (standard)737 (option)

787 (option)787 (option)

A350 (option)

A350 (option)A380 (option) A350 (option)

A350 (option)

A380 (Lufthansa option)

21

Dehumidifier systemsCTT is currently the sole supplier of active dehumidifier systems to the aviation industry. Up until now, aircraft manufacturers have tackled the problem of condensa-tion in aircraft using the following passive measures:

• Covering the cabin with fibreglass blankets• Installing gutters to divert the water• Fastening pieces of rubber foam to rods etc. to catch

running water• Attaching felt to roof panels and other parts, to catch

water which should then evaporate• Installing ‘bilge trays’ to raise insulation in the hold

of the aircraft enabling condensation water to trickle underneath

• The ‘SPUD system’ that blows additional ECS air into a number of selected locations in the crown area in order to dry these.

These methods do not prevent condensation. In the short-term, they stop water from entering the cabin, but water will still be present in the fuselage with the problems this entails: increased weight, corrosion, mould and mildew in the insulation, and the risk of disturbance to the electrical system and components.

Humidifier systemsThere are currently two other companies supplying humidifier systems for aircraft:

Hamilton SundstrandHamilton Sundstrand (USA) has developed a humidifier in which water diffuses through a membrane system. This humidifier is available as an option for the flight deck in Boeing 777 and 747 aircraft. This is an older system, no longer favored by the customers.

Liebherr-AerospaceLiebherr-Aerospace (Germany/France) provides a hu-midifier that uses a heat exchanger to generate steam with the help of hot air emitted from the engines. This system is available as an option for the Bombardier Global Express business jet. In addition, the company has also acquired the Le Bozec system, which now also belongs to the Liebherr group. This uses a humidifier that generates steam using electricity. This product competes with us in the VIP market for large aircraft. We estimate that is has approximately 5% of the market.

Competition

22

Boeing’s black label speeds up production

The latest word from Boeing is that the first 787 will be de-livered during the third quarter of 2011. The hope has grown and faded again many times over, but it now only seems a matter of time before the project takes off.

– With Boeing’s approval of the design and the manufacturing process, we can now deliver the products without risk of further changes. At the moment, we have lot of work to get through in converting already manufactured units, says Hammar.

flexibility or availability – finding the right balance – It’s a challenge trying to keep stock levels low while at the same time meeting Boeing’s delivery schedule, requests for availability and security of delivery. Particularly as not even the Boeing personnel know when deliveries will start.

Despite the absence of large volume orders, 2010 has been a busy year.

OUT WITh ThE REd laBEl aNd IN WITh ThE BlaCk ONE – a Small

ChaNgE IN dIRECTION fOR BOEINg BUT a mIlESTONE fOR CTT.

ThE appROVal mEaNS ThaT WE NOW haVE a CONfIRmEd aNd

CUSTOmER appROVEd dESIgN aNd maNUfaCTURINg pROCESS

fOR SERIal maNUfaCTURINg Of ThE ZONal dRyINg™ SySTEm

aS WEll aS fOR a ValVE TO ThE hUmIdIfICaTION SySTEm fOR

ThE 787. CTT’S UNflappaBlE pROdUCTION maNagER STEfaN

hammaR SEES ThE lIghT aT ThE ENd Of ThE TUNNEl

Stefan Hammar, production manager, CTT

23

– We helped design and evaluate testing equipment and rigs for the A350 and also built prototypes for delivery to end users. All this took place alongside our usual manu-facturing and maintenance work. With the cooperation of our skilled and loyal workforce, we managed to juggle the projects successfully.

Streamlined manufacturingThe next phase is to build validation units for the A350, one step closer to the final design. Before serial manufacturing can start, the plant and the equipment also need to be modified for the new aircraft type.

– The plan for 2011 is to supply the growing Boeing and Airbus programs with all the equipment we expect will be ordered. Internally, we will continue to improve our processes and reduce lead times, says Hammar.

The objective is to create an efficient workflow through-out the delivery chain and the manufacturing process.

– We are also looking at modifying the design of our products to make them as easy as possible to manu-facture, test and, at a later stage, maintain. We expect this can result in large savings. In addition, we aim to intensify cooperation with our suppliers to ensure that the right parts arrive at the right time.

Careful general– With all the delays of the 787 project fresh in our minds, we will be a lot more careful when hiring staff for the A350 programme.

– The fact that the A380 is now in operation and that our system is working perfectly is a great achievement for CTT. It has not had time to affect our volumes yet, but if more airlines become aware of the advantages our system offers and decide to introduce it in their fleets, this will eventually have a positive effect on our volumes.

– 2011 will become another exciting and very significant year for CTT Produktion, concludes Hammar.

Zonal Dryer for Boeing 787 ready for delivery.

”2011 will become an exciting and very important year for CTT Produktion”

24

first-rate performance by Bribo mekaniska

Two new customers entered Bribo’s top-ten list during 2010 and more than half the existing customers in-creased their volumes significantly. The year started in a positive mood – and then continued to improve.

hit the jackpot– Although last year did not turn out quite the way we envisaged in regards to deliveries for CTT, the year as a whole was very successful, with other customers increasing their volumes. The new projects we started to work on during 2009 paid off during 2010 and the increase in revenues is significantly above our estimates, says a satisfied Tony Rosendahl, MD of Bribo.

During the year, Bribo has taken on five staff and lost two, a net increase of three.

The right people in the right places– Today, more of our employees share responsibilities, decision-making and customer contacts. Three are responsible for customer contacts, connecting the customers with the manufacturing process. The flow of information inside the organisation has improved as well. This is conscious effort on my part, because involvement breeds commitment.

Bribo has not just benefited from the improved busi-ness climate, but also developed its CRM system and invested in its IT infrastructure.

BRIBO, WhICh BECamE paRT Of CTT IN 2007, SUpplIES all

alUmINIUm COmpONENTS fOR CTT’S dEhUmIdIfIERS aNd

hUmIdIfIERS. TURNOVER aNd RESUlT WaS SIgNIfICaNTly

aBOVE TaRgET IN 2010. alThOUgh ThE CIVIl aVIaTION SECTOR

WaS COmpaRaTIVEly QUIET, all OThER CUSTOmER gROUpS –

paRTICUlaRly ThE INdUSTRIal dESIgN SECTOR – INCREaSEd

SIgNIfICaNTly.

Tony Rosendahl, MD, Bribo Mekaniska AB

Inspection of a part for Zonal Dryer.

”Quality, quality, quality – this is what I drum into the heads of my colleagues”

25

Expanding the customer base

Catron develops parts and cabling for CTT’s dehu-midifiers. But the key know-how is in communication systems, with the largest customer being aerospace company Saab. With Jörgen Bruhn at the helm, the intention is to expand the operation and the market.

The key requirement for being a supplier in the aviation industry is quality certification according to EN9100, based on industry guidelines.

– This is simply a condition for our continued operation as a supplier to Saab and other companies in the industry, says Bruhn.

CaTRON, aCQUIREd By CTT IN 2009, haS had aN ExTREmEly

BUSy yEaR. ThE fIRST dIffICUlT BalaNCINg aCT fOR jöRgEN

BRUhN aS NEWly appOINTEd md WIll BE TO ExpaNd ThE

CUSTOmER BaSE aNd aChIEVE QUalITy CERTIfICaTION

WIThOUT lOSINg paCE IN ExISTINg pROjECTS. ThE INTEN-

TION IS TO CapITalISE ON ThE pROdUCTS dEVElOpEd aNd

makE USE fOR ThEm IN OThER maRkETS.

Jörgen Bruhn, MD, Catron Elektronik AB

– In addition, we also market ourselves more actively and have a growth strategy, both in respect to existing clients and new ones. We have gained a new customer in the aviation industry. Although this new customer does not affect the result in 2010 to any great extent, the relationship will become significant for the future.

full agenda for 2011The plan is to continue to grow and the agenda for 2011 is filling up already. Expansion of the facilities, recruit-ment and investments in new machinery will take place alongside the running of the production. The 1250 m² production area may, over time, double in size.

– The drawings are as good as complete, it is just a ques-tion of getting started. We will take one step at the time, says Rosendahl.

The main factor to keep an eye on is the staffing level.

– Machinery can be bought quite simply. But as we are a knowledge-based organization, we have to be ahead of the game and hire staff before the need becomes over-whelming. When the Boeing 787 programme starts in earnest, hopefully during the second or third quarter, we will need to take on more staff.

To the question of what the company’s strength is, the reply comes without hesitation:

– Quality, quality, quality – this is what I drum into the heads of my colleagues. Bribo has a very good reputation for quality, this is our stock in trade, but we always look for ways improve further. We are used to working with complex products, with close attention to detail. This experience is very useful when, as we often do, assist customers with their design work and help make proto-types. This is an area where we can really add value.

26

Rescue and surveillance– Many of the solutions we look at concern safety in civil aviation. Surveillance technology in aircraft is an exciting new market – monitoring refugee movements, oil leakages at sea, different types rescue operations, etc. In this area, we can see promising potential. During 2010, Catron has put a lot of effort into designing the new audio panel for Saab’s training aircraft SK60. The order was received at the beginning of 2010 and the year has been characterised by intensive design work.

– Our objective was to design a new communications module with enhanced functionality – one unit doing what it previously took four units to do – to save the customer time, money and installation space. As well as ensuring that the new unit meets Saab’s require-ments, we have looked at developing the base platform further, enabling its use in other markets.

At the same time, a lot of effort has gone into the quality certification of the operation. This work commenced during the third quarter of 2010 and the certification is scheduled for completion by the end of the second quarter of 2011.

Audiopanel SK60

all systems go We are extremely busy at the moment. A number of large orders are under negotiation and these will require increased staffing with key skills if the nego-tiations turn out as we hope. In addition, we must also look at the future development of existing platforms.

– We also plan to tie up a partner company to become less dependent on a single customer. This is a form of channel strategy, where we attach ourselves to another company’s marketing organisation and get quick and easy access to its customers.

The contacts have been made and negotiations are underway.

– During 2011 we expect to recruit staff with a num-ber of key skills. We are also looking at introducing a material requirements planning system to improve our efficiency.

27

A350 passes new milestone

As head of the design department, Torleif Nilsson is used to rolling his sleeves up. During 2010, he had four large projects in operation with as many aircraft types – Airbus A350 and A380 as well as Boeing’s 777 and 787 aircraft.

A350 – second milestone passedThe A350 project is particularly challenging because here, CTT’s equipment will be used to humidify the whole of the cabin. We are now designing a new dryer

with the highest output so far to meet the requirement. The new dryer, along with six new humidifiers in two or three different versions, have now reached the proto-type stage and the equipment is ready to undergo testing. At the moment, installation tests, pressure measurement and other validation tests are underway.

– In terms of skills and knowledge, we are well equip-ped as the team that designed the 787 system was able to continue with the A350 project. The team is highly skilled and the work is progressing well, applying the lessons learned during the 787 project. The objective is to improve the performance as well as reduce costs for the newly developed products, says Nilsson.

We have passed two of the most significant milestones for the project, PDR (Preliminary Design Review) and DDR (Detailed Design Review). This means that we have shown the customer the validated design that we plan to use for the upcoming verification testing.

Tried and tested– Being validated means that we have understood the customer’s requirements and that we are designing a product that meets the customer’s needs. What remains is verification of the products. This involves showing, through analysis and tests, that the product will also meet the performance criteria.

During 2011 and into 2012, CTT will conduct a large number of verification tests: vibration tests, fire, mould resistance, temperature etc. The design department has invested in a temperature and humidity chamber to ena-ble testing in CTT’s own lab, an investment of about half a million kronor where payback has been achieved solely through testing of A350 parts, compared to contracting the testing out to various test centres around Europe.

The investment in a temperature and humidity chamber for testing in temperatures between -70°C and +180°C has helped to make CTT’s testing process more efficient. Previously, temperature testing was carried out at various test laboratories around Europe.

A new milestone in the A350 project; lAunch,of cAir™

in Boeing 777; AirBus A380 in operAtion; Boeing 787 in

flIghT TRIalS. ThE pROjECTS aRE mOVINg fORWaRd aNd

ThE dESIgN dEpaRTmENT IS, aS alWayS, a hIVE Of aCTIVITy.

28

Prototypes for CTT’s new humidifier have been developed and the tests have started.

A380 – flying start with lufthansaThe big event of the spring was when Lufthansa announced that it had chosen CTT’s Cair™ system to humidify the first class cabin.

– This was very encouraging for us, says Nilsson. The A380 is now in operation with Lufthansa and all reports indicate that the system is working excellently. Normally, you don’t expect to hear unless something untoward happens, but we have also had concrete feed-back that the system works well and that the difference is particularly noticeable when moving between areas with and without humidification in the cabin.

B777 – breakthrough in the VIp marketDuring the summer, CTT received its first order for a complete Cair™ system for the world’s largest twin-engined aircraft, the Boeing 777. The order was received from a completion centre that outfits aircraft for private jet owners.

– This is a breakthrough. It means that Cair™ is modified for this aircraft type for the first time. This is one step of the way to start selling Cair™ to airlines as well.

– We will benefit from the experience gained when designing a dryer system for Air New Zealand’s 777 at the beginning of last year. The challenge now is to customise and install humidifiers to a demanding schedule.

Boeing 787 – flight tests in progress – serial status achievedMoving on to Boeing’s Dreamliner, the 787. The latest news is that the first aircraft will be delivered during the

third quarter of 2011. The delay meant that it took longer to get verification of the performance of CTT’s systems. However, the first test results since resumption of the test flights are positive.

Another technical milestones within the Boeing 787 programme was when CTT’s Zonal Drying™ system achieved so-called “Black Level” certification in Boeing terminology, at the end of 2010. This means the system is approved for serial delivery. For the humidification system, some updating of documentation remains before this also achieves serial status, most likely during the spring of 2011.

aftermarket – another area for design departmentWith more customers operating CTT’s products, we also notice how the resources of the design depart-ment are increasingly used to support the important aftermarket activities conducted by Customer Support. One example is development and delivery of a test rig for CTT’s Boeing 787 products. The rig will be used at the repair centre which is being started up in Singapore.

Torleif Nilsson, director of engineering

29

Moist air

Dry air

Rotor motor

Electrical interface

Heater

Air intake

Rotor

The outer skin of the aircraft is extremely cold and when the cabin air meets this surface, condensation occurs in the form of frost that turns to ice. When the outer skin heats up during landing, the ice melts. Most of the water runs out through drainage vents when the aircraft is on the ground, but some accumulates in the insulation blankets or forms puddles inside the fuselage.

The Zonal Drying™ sysTem takes air from the cabin, removes the moisture and blows the air between the cabin and the outer skin of the aircraft. A barrier of dehumidified air is created, drying the insulation blankets. At the same time, the relative humidity of the air coming into contact with cold surfaces is reduced, reducing condensation.

The technology is based on the well-known moisture removal technology developed by Munters, a Swedish company specialising in products for the dehumidification, humidification and cooling of air. The technology is already used in the military aviation industry, although in this application, the dehumidifier is ground-based. CTT has refined this technology by building small,

lightweight drying units, which can be installed for permanent operation in an aircraft. A Zonal Dryer consists of a fan, a heater and a rotor. The rotor is made from fibreglass and impregnated with silica gel, a substance with excellent properties for absorbing and dissipating moisture.

Two separate airstreams are led through the slowly moving rotor. One, comprising about 80 per cent of the air, passes through the rotor for drying. The dry air is then led to the area affected by moisture.

The other airstream, comprising the remaining 20 per cent of the air, is heated before passing through and dries out the rotor. This moist air is re-circulated in the cabin, either directly or via the air conditioning system.Depending on the aircraft type, the Zonal Dryer is either fitted in the crown area or beneath the cabin floor. The system remains in operation as long as the aircraft has electric power, in other words during flight and for most of the time on the ground. The Zonal Drying™ System has been adapted and installed in various air-craft types.

The technology behind the dehumidifier system

30

The technology behind the dehumidifier system

The humiDifier uses the technology of evaporative humidification and has been developed in cooperation with Munters. The main component in the humidifier is a fibreglass pad with specially designed air channels moistened via a spreader system. When dry air passes the moist surface of the pad, the water evaporates and the air is humidified while being cooled. By dimensioning the pad according to the airflow to be humidified, as well as controlling the water flow and air temperature before the pad, the capacity of the humidifier is set and no further regulation is required. Minerals and other contamination in the water are precipitated in the pad. This is replaced at regular intervals, which vary depending on the mineral content of the water.

The risk of bacteria spreading via the humidifier is minimal as the water evaporates when transferred to the airstream and thus cannot carry any bacteria.

The humidifier is installed in the aircraft cabin in supply ducts to the zones to be humidified. Water is drawn from the water system in the aircraft.

The humidification systems for the new Airbus A380 and Boeing 787 also contain a humidifier with a software con-trol unit, moisture sensors and advanced water valves.

The technology behind the humidifier system

Water spray tube Potable freshwater supply

Trim air

Drain to bilge Drain to bilge

Cabin temperature sensor

Air out Air inPad

31

Share price development and turnover per month 2010.

060120

480420360300240180

20

22

24

26

28

30

32

34

36

38

Jan Feb Mar Apr Maj Jun Jul Aug Sep Okt Nov Dec

CTT Systems AB (publ.) 2010

No. of shares tradedin thousands

Share

OMX Stockholm_Pl

0

10

6

2

14

0

20

40

60

80

100

120

140

160

1999 2000 2001 2002 2003 2004 2005 2006 2006 2007 2008 2009

CTT Systems AB (publ.) 1999-2010

No. of shares tradedin thousands

Share

OMX Stockholm_Pl

Share price development and turnover since listing in 1999.

32

The CTT share

Share capital Share capital in CTT amounts to SEK 11,391,438 distributed among 11,391,438 shares with a quota value of SEK 1 each. All shares give the same entitlement to the company’s assets and income. Each share entitles the holder to one vote. At the AGM, each person entitled to vote may vote for the full number of shares he owns and/or represents without limitation of voting rights.

growth in share capital Since the company was formed in 1991, the share capital has developed as illustrated on the next page.

Ownership structure The tables on the next page illustrate the ownership structure of CTT based on information from VPC as at 30 December 2010. The number of shareholders has decreased since 31 December 2009, from 3,073 to 2,847.

Share listings Shares in CTT were first listed on the SBI list in 1997, but were transferred in 1999 to the O-list of the Stockholm Stock Exchange, now the Small Cap listing of Nasdaq OMX Stockholm AB. Listing means, among other things, that CTT follows rules regarding stock market information. The company thus publishes financial reports and other stock market infor-mation, and follows other rules and practices that apply to a listed company.

Share price development The highest closing price for the share during the last financial year of SEK 36.70 was noted on 6 August 2010, while the lowest closing price of SEK 23.30 was noted on February 16th, 2010. The final closing price on 30 December 2010 was SEK 25.70 (24.60).

Information policyThe Board of CTT has established an information policy that takes into account the rules set out by the Stock Exchange in the listing agreement. Apart from the Chairman and President, the Financial Director is also authorised to make statements on the company’s reports and officially communicated business. The company distributes all its reports, including the year-end report and press bulletins, via Cision AB. The company’s web-site, www.ctt.se, is updated simultaneously with the same information, and also contains the information policy, as well as the annual report and interim reports for download.

33

No. oF SHARES/ No. of No. of No. of shares SHAREHoLDERS owners shares as a %1-1000 2 199 659 458 5,8% 1 001-10 000 551 1 517 894 13,3%10 001-50 000 60 1 356 557 11,9% 50 001-100 000 17 1 191 807 10,5%100 001- 20 6 665 722 58,5%Total 2 847 11 391 438 100,0%

SHARE CAP. Transaction Change Total no. Increase in Total NominalDEvELoPMENT of shares of shares share capital share capital amount in no. SEK SEK SEK1991/92 New issue 2 670 2 670 2 670 2 670 1001994/95 New issue 2 670 5 340 2 670 5 340 1001995/96 New issue 594 5 934 594 5 934 1001996/97 New issue 5 934 11 868 5 934 11 868 1001997/98 New issue 11 868 23 736 11 868 23 736 1001997/98 Split 100:1 2 349 864 2 373 600 - 2 373 600 11997/98 New issue 690 000 3 063 600 690 000 3 063 600 11998/99 New issue 1 021 200 4 084 800 1 021 200 4 084 800 12000/01 New issue 1 021 200 5 106 000 1 021 200 5 106 000 12003/04 New issue 1 276 500 6 382 500 1 276 500 6 382 500 12004/05 New issue 2 127 500 8 510 000 2 127 500 8 510 000 12005/06 New issue 28 929 8 538 929 28 929 8 538 929 12006/07 New issue 230 001 8 768 930 230 001 8 768 930 12007 New issue 269 999 9 038 929 269 999 9 038 929 12007 New issue 1 807 785 10 846 714 1 807 785 10 846 714 12009 New issue 544 724 11 391 438 544 724 11 391 438 1

THE LARGEST SHAREHoLDERS No. of Capital and AS AT 30 DECEMBER 2010 shares shares as a %volito AB 1 761 427 15,5Trulscom AB 790 224 6,9Catron Design AB 544 724 4,8IF Skadeförsäkring AB 511 200 4,5 Swedbank Robur Ny Teknik 487 360 4,3 Nya Jorame Holding AB 254 800 2,2 Länsförsäkringar Småbolagsfond 240 432 2,1 SEB Private Bank S.A., NqI 239 893 2,1 AMF Aktiefond Småbolag 226 909 2,0 Land & Berg Fastigheter AB 226 909 2,0 Total 5 270 969 46,3other shareholders 6 120 469 53,7

Total no. of shares 11 391 438 100,0

Total no. of shareholders 2 847

CLASSIFICATIoNoFSHAREHoLDERS

Swedish individuals 37,7%

Swedish organisations 55,2%

overseas individuals 0,1%

overseas organisations 7,0%

dividend policyTo date, CTT has not distributed any dividends. The standpoint of the Board is that the dividend should, in the long-term, be well balanced between the com-pany’s need for capital in order to grow (with regard to its financial goals) and the desire for a good direct return on investment. At the present time, it is not considered meaningful to quantify the size of dividends in relation to future profits. In view of the Board’s future expansion plans for CTT, it is considered that

the dividend policy will continue to be restrictive in the coming years. According to the Articles of Association, no dividend may be distributed before the conditional shareholders’ contribution of SEK 4.9 million has been repaid to Volito AB.

Shareholders’ agreementTo the Board’s knowledge, no shareholders’ agreement exists between shareholders in CTT.

Torbjörn JohanssonPresident

Stefan HammarProduction Manager

Procurement

Assembly

Maintenance & Overhaul

Maria WesterQuality Manager

Ulf LiljenbergVP Sales & Marketing

Mikael BrateFinancial Director

Administration & IT Sales & Marketing

Quality Assurance & HR

Torleif NilssonEngineering Manager

Design Engineering

System Engineering

Development Test

CTT Systems AB (publ.)

Bribo Mekaniska AB

Catron Elektronik AB

CTT Systems Inc (vilande)

100%

100%

100%

34

Background, organisation and quality system

BackgroundCTT can trace its origins to the ‘dehumidifiers in aircraft’ concept that was presented by the company’s founders, Christer Nordström, Thomas White and Thomas Axelsson in 1988. Although military aircraft had long been dehu-midified using ground equipment, this was no solution for civil aircraft with long flight times. After a number of years of prototype production and demonstrations of the concept to, amongst others, the Swedish Civil Aviation Authority and various airlines, CTT Systems AB was established in May 1991 to patent and further explore the idea. In 1997, the company obtained its first global certification based upon a system for the Boeing 767.

Later that year, CTT received an SBI listing and joined the O-list on the Stockholm Stock Exchange in 1999, which is now the Small Cap list of Nasdaq OMX Stockholm AB.

Until 2004, the company only sold retrofit installations to aircraft already in service. However, the recent signing of a number of agreements has enabled the company to realise its strategic goal of evolving as an OEM contractor.

The agreements concerned are: • Zonal Drying™ System as an option for the Boeing

737NG• Humidification as an option for Airbus A380 crew rest

compartments• Zonal Drying™ System as standard for the Boeing 787• Humidification of the crew rest compartments and

cockpit as an option for the Boeing 787• Zonal Drying™ System as an option for the Airbus

A350• Humidification of the crew rest compartments and

cockpit as an option for the Airbus A350• Cair™ humidification of the cabin as an option for the

Airbus A350

further development led to a complete moisture management systemIn the autumn of 1999, development of a ‘humidifica-tion system’, aimed at increasing passenger and crew comfort, was initiated. The humidifier system is com-bined with CTT’s Zonal Drying™ System to prevent condensation during humidification of the aircraft inte-rior. This integrated concept is now marketed under the name Cair™ as a registered trademark.

Organisation and personnelThe company organisation is designed to match the airlines’ structures and safeguard growth opportunities and production. Bribo Mekaniska AB became a wholly owned subsidiary within the Group on 1 November 2007, as did Catron Elektronik AB on 1 December 2009. CTT has recruited strategically important key individuals with core competencies within the areas of engineering, mechanics, air systems, avionics and

gROUp ORgaNISaTION

Peter LandquistVP Customer Support

Technical Documentation

35

airworthiness administration, as well as financial matters and administration of listed companies. Several employees have long experience within the Swedish and interna-tional aviation industries. Production personnel plan and administer manufacturing, which is for the most part subcontracted.

There are a total of 53 employees, eight of whom are women. There is an even distribution in the age of employees from 20 to 60. Absence through illness is low within the Group.

QualityCTT complies with Swedish Transport Agency rules and regulations (formerly those of the Swedish Civil Aviation Authority) applying to Quality Assurance in the aviation industry. Quality control is applied at every level, from design through production to delivery, with subsequent follow-up checks and customer support.

Third-party approvalToday, CTT is certified by the Swedish Transport Agency in accordance with the common European standards issued by the EASA (European Aviation Safety Agency), Part 21 and Part 145. These authorisations together mean that CTT is qualified to manufacture and maintain airworthy material. CTT is also certified in accordance with ISO 9001:2000 and EN 9100:2003 by DNV.

CertificationAn aircraft’s basic configuration has a type certificate (TC). All retrofit equipment installed must be approved with a Supplement Type Certificate (STC). An STC means that the certifying civil aviation authority has approved both the system and its installation from an airworthiness view-point. Within the EU, STCs are often issued by the EASA. An STC issued by the FAA (Federal Aviation Authority in the USA) is in reality the same as global certification.

CTT and Lufthansa Technik have a cooperation agreement regarding certification. This agreement means that Luft-hansa Technik acts as CTT’s formal design organisation and maintains STCs for CTT products in return for royalties on systems sold. This agreement is very useful in the sales process as Lufthansa Technik has an excellent reputation for certification and affords the possibility of maintaining STCs from both the EASA and FAA.

productionCTT’s production strategy is to perform the final assembly and maintenance of its own products. A large portion of the products comprise standard components from the aviation industry that are purchased from reputable suppliers. In the case of key components, long-term agreements have been signed to ensure com-petitive prices even for short production runs. Manufac-turing and assembly are contracted to carefully selected suppliers, including our subsidiary Bribo Mekaniska AB, enabling CTT to increase turnover rapidly without investing heavily in machinery or personnel.

InstallationFor sales of systems for retrofitting to aircraft already in service, installation is undertaken by airline personnel in accordance with CTT’s drawings and instructions. To facilitate the installation process, CTT instructors (su-pervisors) participate in the first installation of systems. Installation of a Zonal Drying™ System requires 70-150 man-hours, whereas installation of a complete Cair™ system requires some 200-250 man-hours. The formal responsibility for the installation rests with the airlines.

By way of agreements with Airbus and Boeing, instal-lation is undertaken during production of new aircraft at the manufacturer’s premises. If installation takes place as part of initial construction, manufacturers as-sume responsibility for the installation.

Maria Wester, Quality and HR Manager

36

Five-year summary – The Group

2) 1) (MSEK) 2010 2009 2008 2007 2006/2007 Income statement Income 71,8 62,5 43,2 16,0 50,4 Expenses –77,2 –64,0 –60,2 –25,8 –54,5 Depreciation –12,5 –10,2 –9,2 –3,7 –4,1 Profit/loss after depreciation –17,9 –11,6 –26,2 –13,6 –8,3 Financial income 4,1 5,7 0,7 0,1 0,8 Financial expenses –0,9 –1,0 –6,2 –1,0 –0,5Earnings before tax –14,7 –6,9 –31,7 –14,5 –7,9 Tax 12,5 7,9 0,8 3,6 0,0 Profit/loss for the year –2,3 1,0 –30,9 –10,8 –7,9 Balance sheet 10-12-31 09-12-31 08-12-31 07-12-31 07-06-30

Assets Subscribed capital unpaid 0,0 0,0 0,0 3,6 0,0Intangible fixed assets 22,2 30,1 23,5 26,7 17,3 Tangible fixed assets 9,9 12,0 15,5 17,1 7,9 Financial fixed assets 16,6 4,1 0,0 0,0 0,4 Other current assets 53,7 43,4 47,9 39,8 33,5 Cash and bank balances 0,9 12,8 3,7 9,8 3,7Total assets 103,3 102,5 90,6 96,9 62,9

Shareholders’ equity and liabilities Shareholders´equity 40,7 43,0 29,4 60,4 21,9 Deferred tax liabilities 0,0 0,0 0,0 0,9 0,0Provision for warranty commitments 2,1 2,0 1,2 1,4 1,3 Long-term liabilities, interest-bearing 19,4 20,0 23,7 18,6 25,0 Long-term liabilities 1,4 1,4 0,0 0,0 0,1 Short-term liabilities, interest-bearing 17,7 17,2 18,5 0,5 0,0 Short-term liabilities 22,0 19,0 17,8 15,1 14,7 Total shareholders’ equity and liabilities 103,3 102,5 90,6 96,9 62,9 Key ratios Share of risk capital % 39 42 32 63 35 Return on shareholders’ equity % –5 3 –69 –26 –38 Return on total assets % –13 –6 –27 –17 –14 Return on capital employed % –23 –15 –33 –21 –22 Liquidity ratio % 66 91 61 159 126 Interest coverage ratio –15 –6 –4 –14 –16 Operating margin % –26 –19 –70 –103 –17 Debt ratio 0,9 0,9 1,4 0,3 1,1 Equity/assets ratio % 39 42 32 62 35 Profit margin % –21 –11 -84 –110 –16 Personnel No. of personnel, average 54 51 47 38 32 Income per employee 1,8 1,2 0,9 0,4 1,6 Salaries 21,8 18,6 18,8 7,2 13,0 Share data Earnings per share, SEK –0,20 0,09 –2,85 –1,22 –0,93 Earnings per share, after dilution –0,20 0,09 –2,85 –1,22 –0,93 Equity per share, SEK 3,57 3,77 2,71 5,57 2,65 Equity per share, after dilution, SEK 3,57 3,77 2,71 5,57 2,65 Cash flow per share, SEK –1,34 0,91 –0,56 0,70 –0,61 No. of shares 11 391 438 11 391 438 10 846 714 10 846 714 8 768 930 Number of shares after dilution 11 391 438 11 391 438 10 846 714 10 846 714 8 768 930 Average number of shares 11 391 438 10 872 224 10 846 714 8 857 941 8 538 929 Share price on balance sheet date, SEK 25,70 24,60 15,50 31,00 43,00 Dividend per share, SEK 0 0 0 0 0

1) 6 months2) Adjusted for revised additional payment for Catron Elektronik AB

37

Senior executives

Maria Wester

Quality Manager and Personnel Manager, born 1966. Professional engineer, electrical and telecoms engineering. Diploma in business administration at Örebro University. Studies in quality engineering at Mälardalen University, Västerås. Postgraduate Programme Personnel Administration. Project management/sales, Trade Motion 1988–89. Technical/financial assistant, Burndy AB/FCI 1990–95. Quality and Personnel Manager, Framatome Connectors Sweden AB 1995–99. Quality Manager, CTT Systems AB since 1999. Holds 4,243 shares in CTT.

Torbjörn Johansson President, born 1958. Master of Science in mechanical engineering, Linköping Institute of Technology. Engineer’s apprenticeship at SAAB aircraft division 1982–83. Design engineer on JAS39 Gripen, SAAB 1983–88. Design engineer/manager, EPI GmbH (now Telair), Germany 1988–91. Engineering Director, Elektrometall GmbH, Germany 1991–96. Technical Director, CTT Systems AB 1996–1997. President of CTT Systems AB since 1997. Holds 35,000 shares in CTT.

Ulf R. Liljenberg

Director Sales and Marketing, born 1960. Master of Science in mechanical engineering, Lund Institute of Technology. Business administration, IHM. Engineering Manager, Transwede Airways 1988-1990. Technical Manager, Transwede Airways 1990-1995. Marketing Manager, Europe, Credit Lyonnais/PK Airfinance (CLPK), Luxemburg 1995–2000. Joint owner, Director of Finance and Business Development, Eurowind AB 2000-2002. Director Sales and Marketing, CTT since 2002. Holds 16,798 shares in CTT.

Stefan Hammar Production Manager, born 1959. Mechanical engineer. Konstruktion Studsvik Energiteknik AB 1984-1990. Group Manager design, manufacturing, elec-tricity and electronics at Studsvik Nuclear AB 1990-2001. Design Manager at Studsvik Nuclear AB 2001-2005. Design and Laboratory Manager at Studsvik Nuclear AB 2005. Production Manager at CTT Systems AB since 2006. Number of shares in CTT: 0.

Mikael Brate Financial Director, born 1960. Master of Science in Industrial Engineering and Management Economics, Linköping Institute of Technology 1988. Graduate engineer Measurement and Control technology at Falun/Borlänge 1984. Project and Marketing Controller at CelsiusTech Electronics AB 1988–1993. Financial Director at Mälardiagnostik AB 1993–1996. Financial Director at Camfil Components 1996-1997. Business and Management consultant at Cap Gemini 1997–2004. Financial Director at Catech AB (publ.) 2004–2006, Financial Director at CTT Systems AB since 2006. Holds 25,000 shares in CTT.

38

SupplementaryinformationinaccordancewithNBK’srecommendations

There are no further agreements regarding pension age, or future pension, for the President or other senior executives. The company subscribes to a pension plan for the

individual where the company’s commitment is limited to paying the agreed premium during the period of employment.

Notice and severance pay

The President and certain executives have an agreement that permits severance pay if the executive is obliged to leave their post at the company’s request. Severance pay,

including salary during the period of notice, for the President amounts to two years salary and in no case exceeds six months salary for other executives.

The holdings reported are accurate as at 31 March 2010. Includes the holdings of spouses, minors and private companies.

Torleif Nilsson

Director of Engineering, born 1960. Institute Engineer – Mechanical Engineering 1980. Stress Engineer on JAS39 Gripen, Saab 1982–1998, Appointed Senior Stress Engineer Aircraft Systems 1990. Manager Stress Aircraft Systems in Weapons Integration & Structural Technology Department, Saab Aerosystems 1999-2007. Head of Development at CTT Systems AB from 2007. Owns 7,530 shares in CTT.

Peter Landquist

Aftermarket Manager, born 1958. Graduate industrial technology high school, 1976. Production and design AB Nyge Aero 1986–1993. Head of Design at CTT Systems AB 1993–1998. Technical Director 1998-2004. Technical Sales 2004–2006. Aftermarket Manager from 2006. Holds 0 shares in CTT.

Tony Rosendahl

MD of Bribo Mekaniska AB, born 1967. Professional Engineer, mechanical engineering, 1987. Planning, procurement and production manager at Ogo AB 1989-2000. Production manager at Mönsterås Metall AB 2000–2009. Managing Director of Bribo Mekaniska AB since 2009. Holds 2,000 shares in CTT.

Jörgen Bruhn

MD Catron Elektronik AB, born 1959. BA Public Administration, Linköpings Universitet 1986. Buyer, Saab Aircraft 1986-1995, Sales Manager, Spares and Logistical Services Saab Aircraft 1995-1999, Business Development Manager, Spares, Saab Aircraft 1999-2002, Manager, Supplier Management, Saab Aircraft 2002-2003, Director, Supplier Management, Saab Aircraft Services 2003-2010. MD Catron Elektronik AB from 2010. Owns no shares in CTT.

3939

Johan Lundsgård Born 1953. Economist, Board member since 2009, Chair man since 2010. MD and Group President of Volito AB. Holds 0 shares in CTT.

Anders Helmner Born 1953, Master of Science, Lund, Board member since 1996. President of Telair International AB. Holds 3,663 shares in CTT.

Lars Lindgren Born 1950, Master of Business Administration, School of Business, Economics and Law, Gothen-burg University, Board member since 2006, Board member of Air Greenland and Synfell East AB. Holds 0 shares in CTT.

Björn Rönnqvist Born 1963. Bachelor of Science in Economics, Uppsala University, Board member since 2009. MD of Icecapital Securities AB. Holds 1,800 shares in CTT.

Gert Schyborger Born 1940, member of the board since 2010. Swedish National Defence College, Columbia Univer-sity Business School MBA. Member of the board of Hawker Pacific Ltd. Digital Vision AB, Rotekonsult AB and several other companies. Owns 2000 shares in CTT.

Maria NordbergBorn 1963, member of the board since 2010. MSE, mechanical engineering, Lund Institute of Technology, MD Saint Gobain Sekurit Scandinavia AB, Key Account Manager Ford Group - Saint Gobin Sekurit International. Owns no shares in CTT.

Board of directors

oRDINARyBoARDMEMBERS

CTTSystemsAB(publ.)Box1042SE-61129NyköpingPhone:+46(0)155-205900Fax:+46(0)155-205925E-mail:ctt@ctt.sewww.ctt.se

VAT no: SE556430774101

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