7th Apr 2025 10:01
(Alliance News) - Directa Plus PLC on Monday reported double-digit revenue growth for the first three months of 2025, though it expects to post a widened loss for 2024.
The London-based graphene product maker said it has delivered first-quarter revenue of around EUR2 million, which is up around 40% from a year before. This was driven by contract renewals across its Environmental and Textiles divisions.
Directa Plus is due to release its 2024 results in mid-May.
The firm expects to post a full-year loss before interest, tax, depreciation and amortisation of around EUR3.6 million, widened from a EUR2.6 million loss in 2023 and compared to company-compiled market consensus for a EUR3.4 million loss.
Directa Plus also expects to report reduced revenue of around EUR6.7 million for the year, down 36% from EUR10.5 million in 2023.
The firm's current order book for 2025 stands at around EUR7 million, supported by a USD1.5 million contract win with Midia International SA in February.
Directa Plus noted it has delivered around EUR500,000 in targeted annualised cost savings during 2024 and is targetting further savings for the year ahead.
"We are working with determination to recover the ground lost in 2024 and to bring the group back to its expected growth path," said Founder & Chief Executive Officer Giulio Cesareo.
"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."
Shares in Directa Plus were up 4.0% at 6.50 pence in London on Monday morning. The stock is down 66% over the past year.
By Emily Parsons, Alliance News reporter
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