REG - Directa Plus PLC - Trading and Operational Update & Notice of Results

Directa PlusAnnouncement

07/04/2025 07:00

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RNS Number : 8313D  Directa Plus PLC  07 April 2025

7 April 2025

 

 

Directa Plus plc

("Directa Plus", the "Company" or the "Group")

 

Trading and Operational Update & Notice of Results

 

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene-based
products for use in consumer and industrial markets, provides an update on
trading in the first quarter of FY2025 and for the financial year ended 31
December 2024 ("FY2024").

 

Trading Update and Notice of Results

 

Trading in Q1 FY2025 has been robust, with revenues of approximately €2
million, up c. 40% from the same period in 2024. This improvement has been
primarily driven by several contract renewals across the Environmental and
Textiles divisions, including with Grassi, Ford Otosan, Cummins and Metchem.
The Group's current order book stands at approximately €7 million for
FY2025, supported further by a good pipeline of opportunities. As part of this
positive momentum, Setcar announced an initial agreement with Midia
International SA, worth up to $1.5 million in February 2025, to provide tank
cleaning and waste disposal services for an offshore drilling campaign in the
Black Sea. Group cash is approximately €4 million at the end of March 2025.

 

The Group expects to announce its audited results for FY2024 in mid-May 2025
and to report, subject to audit, an adjusted LBITDA of c. €3.6 million, in
line with market expectations¹, from revenues of approximately €6.7m (FY23:
€10.53).

 

Operational Update

 

The Board is pleased to report that it has delivered approximately €0.5
million of targeted annualised cost savings through the identification of
several operational improvements and efficiencies across the Group, which will
be reflected in FY2025. As a result of this process, further potential savings
are also now being targeted.

 

As part of the new strategic focus at Setcar, following the acquisition of
full majority control in FY2024, the Board has implemented a headcount
reduction and appointed a new General Manager to bring improved focus and
leadership. Additionally, in line with this reorganisation, there is a process
for further senior appointments in place, including a new Sales Director, to
strengthen Setcar's commercial capabilities and support future growth.

At the Lomazzo plant, management have enhanced the production team, which is
currently working on a remodelling of the production line aimed at both
increasing productivity and ensuring greater operational flexibility at
significantly lower direct production costs. In parallel, specific investments
to further improve the production line have been undertaken, including the
substitution of argon gas with nitrogen as the main energy source which has
already reduced production costs with additional benefits in terms of
sustainability.

 

The Group has also strengthened the R&D team to better align with evolving
market needs and to drive innovation both in the short term and across
medium-to-long-term strategic verticals.

Outlook

The Group has made a positive start to FY2025 and continues to see new
tangible opportunities in environmental remediation, textiles and in further
verticals, such as asphalts, tyres, batteries and paints. It has also launched
a joint R&D activity with Nant G Power to explore new battery materials,
which, if successful, could lead to a broader collaboration agreement.

 

Giulio Cesareo, Founder & CEO of Directa Plus, said: "We are working with
determination to recover the ground lost in 2024 and to bring the Group back
to its expected growth path. At the same time, we are moving decisively on two
key fronts. First, the significant reorganisation of Setcar, including the
appointment of a new General Manager, a new Sales Director, and the addition
of new executives within the Group, will allow us to capture new business
opportunities and eliminate inefficiencies. Second, we are redesigning the
layout of the Lomazzo plant to enhance production flexibility and achieve
significant cost reductions. This lays the foundation for the Group to build
momentum which is already evident from the new wins and renewals in the first
quarter of FY2025, providing confidence in the success of our strategy."

 

1. Directa Plus understands that as at the date of this announcement, market
expectations for the year ended 31 December 2024 are an adjusted LBITDA of
€3.4m. (Source: FactSet)

 

For further information please visit http://www.directa-plus.com/
(http://www.directa-plus.com/) or contact:

 

 Directa Plus plc                                          +39 02 36714458
 Giulio Cesareo, CEO
 Giorgio Bonfanti, CFO

 Singer Capital Markets                                    +44 20 7496 3069
 Rick Thompson

 Phil Davies

 Alma Strategic Communications (Financial PR and Adviser)  +44 20 3405 0205
 Justin James                                              directaplus@almastrategic.com

 Hannah Campbell

 Kinvara Verdon

 

About Directa Plus

Directa Plus (www.directa-plus.com) is one of the largest producers and
suppliers of graphene-based products for use in consumer and industrial
markets. The Company's graphene manufacturing capability uses proprietary
patented technology based on a plasma super expansion process. Starting from
natural graphite, each step of Directa Plus' production process - expansion,
exfoliation and drying - creates graphene-based materials and hybrid graphene
materials ready for a variety of uses and available in various forms such as
powder, liquid and past

 

This proprietary production process uses a physical process, rather than a
chemical process, to process graphite into pristine graphene nanoplatelets,
which enables Directa Plus to offer a sustainable, non-toxic product, without
unwanted by-products. Directa Plus' products are made of hybrid graphene
materials and graphene nano-platelets. The products (marketed as G+®) have
multiple applications due to its properties. These G+® products can be
categorised into various families, with different products being suitable for
specific practical applications.

 

Directa Plus was established in 2005 and is based in Lomazzo (Como, Italy) and
has been listed on the AIM market of the London Stock Exchange since May
2016. The Company holds the Green Economy Mark from London Stock Exchange
which recognises companies that contribute to the global green economy.

 

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