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17 Jun 2022 07:00
17 June 2022
Directa Plus plc
("Directa Plus" or the "Company")
AGM Trading Update
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene-based products for use in consumer and industrial markets, provides an update on the current financial year to 31 December 2022 ahead of its Annual General Meeting to be held later today.
As announced in the Final Results on 5 May 2022, Directa Plus was trading in line with FY2021 during the first quarter of the year. Pleasingly, the Company has seen an acceleration in trading in the last two months and revenue to the end of May 2022 was €4.60 million, approximately 44% ahead of the same period last year, driven by growth across all of its commercial verticals, with the Company's sales in line with expectations. The Company continues to work to mitigate inflationary pressure on costs while maintaining increased investment in operations.
Directa Plus remains optimistic on its ability to secure a very material contract for which it has tendered via the Company's subsidiary, Setcar, for Environmental Remediation services. The Company now expects a decision on the tender in early H2 2022. The contract is significantly larger than anything secured to date and, if awarded, it is expected to commence by year end.
The Board is encouraged by the significant progress made in the financial year to date, with accelerated growth rates enabled by the successful fundraise at the end of 2021. The Company's strategy to invest in high value opportunities in key verticals remains in place, with a particular focus presently on US markets. Directa Plus is seeing accelerated traction for Environmental Remediation and Textiles and sees high potential for entry into international filtration markets, paints and Lithium Sulphur batteries with blue chip partners. The Board looks forward to updating investors on progress in due course.
For further information please visit http://www.directa-plus.com/ or contact:
Directa Plus plc | +39 02 36714458 |
Giulio Cesareo, CEO / Giorgio Bonfanti, CFO | |
Cenkos Securities plc (Nominated Adviser and Joint Broker) | +44 131 220 6939 |
Neil McDonald / Adam Rae | |
Singer Capital Markets (Joint Broker) | +44 20 7496 3069 |
Rick Thompson / Phil Davies | |
Tavistock (Financial PR and IR) | +44 20 7920 3150 |
Simon Hudson / Heather Armstrong |
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 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+®) 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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