Directa Plus PLC - London-based graphene product manufacturer - Says it "made strong progress" in 2023, and expects to report revenue of about EUR11 million and a minimum 20% reduction in its adjusted loss before interest, tax, depreciation and amortisation, "slightly ahead" of market consensus. Follows revenue of EUR10.9 million in 2022 alongside an EUR3.2 million adjusted Ebitda loss. Company says consensus predicts EUR12 million in revenue and a EUR2.5 million Ebitda loss for 2023. Last year's "strong progress" includes "securing new contracts across key geographies and in all verticals" such as a EUR5.5 million three-year deal with Liberty Galati.
Company also says it is optimistic of delivering potential new material contracts in the short term, thanks to "momentum and increased engagement across all verticals, and a strengthening pipeline of opportunities". Order book for delivery this year stands at around EUR7.8 million, "mostly made of recurring clients".
Current stock price: 17.98 pence, up 5.7% on Monday morning
12-month change: down 77%
By Emma Curzon, Alliance News reporter
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Directa Plus (DCTA)