12 February 2024
Directa
Plus plc
("Directa Plus", the
"Group" or the "Company")
Trading
Update and Notice of Results
Directa Plus (AIM: DCTA), a leading producer
and supplier of graphene nanoplatelets based products for use in
consumer and industrial markets, announces an update on trading for
the year ended 31 December 2023 ("FY23") and on current trading and
outlook.
The Group made strong progress in 2023,
securing new contracts across key geographies and in all verticals
whilst further developing the Company's innovative graphene-based
products. Subject to completion of the audit process, the Group
expects to report revenues for FY23 of c. €11m, with an improvement
in adjusted EBITDA loss of at least 20% from 2022, slightly ahead
of consensus market expectations1. Cash at the period
end is expected to be €2.4m, c.14% ahead of
expectations1, reflecting the Board's continued focus on
the improvement in the gross margin.
Highlights in the year include a €5.5m
three-year contract with LIBERTY Galati in the Group's
Environmental division and, in Textiles, the Group agreed a
significant expansion of its exclusive supply agreement with MC
Armor in Latin America in addition to longstanding customer Grassi
doubling its orders from the previous year. The Group also
continued to enhance and adapt its technology, including the
accelerated development of its graphene compounds for application
in battery and polymer markets and the launch of Graphito, an
eco-denim textile, in June 2023.
In 2024, Directa Plus is seeing increasing
traction, including the €1.9m contract renewal with FORD Otosan in
Romania and the first Textiles order with the Group's distributor
in Turkey to commence industrial production of G+
textile technologies in the Turkish textile industry. The Group is
encouraged by a renewed interest for Grafysorber® in Middle East
and Southeast Asia, and by an increased demand in the defence
sector, for both personnel protection and comfort, which is leading
to the creation of a dedicated business unit.
With momentum and increased
engagement across all verticals, and a strengthening pipeline of
opportunities, the Board is also optimistic of delivering potential
new material contracts in the short term. The current order book
for delivery in 2024 stands at c. €7.8m, mostly made of recurring
clients, further reinforcing the Board's confidence for increased
traction in the year ahead.
Notice of
results
The Company expects to announce its audited
results for FY23 in first half of May 2024.
Giulio
Cesareo, Founder and Chief Executive of Directa Plus,
commented: "The Group
achieved a strong financial performance in FY23, with improved
margins as a consequence of an increasing value appreciation of our
technology, successful investment in innovation and direct cost
reduction. We have entered FY24 with good momentum and are
seeing increasing traction in graphene technology and its
applications. As the market grows globally, we are confident in our
ability to capitalise on the opportunity ahead with Directa Plus
well positioned to scale its activities."
1) The Company understands
that consensus market expectations for the year ended 31 December
2023 are for revenues of €12m an EBITDA loss of -€2.5m and cash of €2.1m (Source: Bloomberg)
For further information please visit or
contact:
Directa Plus
plc
|
+39 02 36714458
|
Giulio Cesareo, CEO
|
|
Giorgio Bonfanti, CFO
|
|
|
|
Cavendish
Capital Markets Limited (Nominated Adviser and
Joint Broker)
|
+44 131 220 6939
|
Neil McDonald
|
|
Adam Rae
|
|
|
|
Singer Capital
Markets Securities Limited (Joint
Broker)
|
+44 20 7496 3069
|
Rick Thompson
|
|
Phil Davies
|
|
|
|
Alma Strategic
Communications
|
+44 20 3405 0205
|
Justine James
|
directaplus@almastrategic.com
|
Hannah Campbell
|
|
Kinvara Verdon
|
|
Notes to
Editors
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
paste.
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+(R)) have multiple applications due to its
properties. These G+(R) 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. Directa Plus
holds the Green Economy Mark from London Stock Exchange which
recognises companies that contribute to the global green
economy.