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Pin to quick picksDirecta Plus Regulatory News (DCTA)

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Setcar Update

14 Oct 2020 07:00

RNS Number : 9856B
Directa Plus PLC
14 October 2020
 

14 October 2020

 

Directa Plus plc

("Directa Plus" or the "Company")

 

Setcar update

 

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, is pleased to provide an update on the integration and current trading of Setcar SA ("Setcar"), the Company's 51%-owned environmental remediation business acquired in November 2019.

 

In the 10 months following the acquisition of Setcar, the business is delivering significantly improved results compared to previous years, despite the headwinds caused by the Covid-19 pandemic.

 

Highlights

· Sales for the period 1 January 2020 to 1 October 2020 increased to €3.0m (equivalent previous period: €2.6m)

· 132 new contracts have been signed since 1 January 2020

· Since the start of 2020, Setcar has participated in 77 tenders for new business, of which 32 were awarded to Setcar, with a further 9 still under evaluation by the potential customers

· Contracted order book is expected to generate revenue of €4.0m during 2021 and €3.0m during 2022

· Post-acquisition integration continues to progress well and the Company continues to invest to reshape the Setcar business to ensure better growth opportunities.

 

Giulio Cesareo, Chief Executive of Directa Plus, added: "We are delighted with the performance of Setcar. Since acquiring the company, our strategy has been to capture new high potential business opportunities leveraging on our patented Grafysorber® technology and we are now working to expand Setcar's product offer with the addition of our other G+ products.

 

This success is a reflection of the growing strength of Directa Plus in the Environmental vertical.

The outstanding work of Setcar's team, led by our COO, Razvan Popescu, has delivered these excellent results even in the current global economic situation.

 

The foundations for further growth in the coming few years are clearly laid, and we look forward to growing with Setcar."

 

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

 

Directa Plus plc

+39 02 36714458

Giulio Cesareo, CEO

 

Marco Ferrari, CFO

 

 

 

Cenkos Securities plc (Nominated Adviser and Joint Broker)

+44 131 220 6939

Neil McDonald

Pete Lynch

 

 

 

N+1 Singer (Joint Broker)

+44 20 7496 3069

Rick Thompson

Phil Davies

 

 

 

Tavistock (Financial PR and IR)

+44 20 7920 3150

Simon Hudson, Edward Lee

 

 

About Directa Plus

Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product) and textiles (based on our G+ products). In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+ products. All our products are hypoallergenic, non-toxic and sustainably produced.

 

-ends-

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UPDEAEEDFLFEFAA
Date   Source Headline
25th Mar 20247:00 amRNSEUR 1,000,000 Loan Agreement Signed
22nd Mar 20247:00 amRNSCollaboration with UK-based Heathcoat Fabrics
26th Feb 20247:00 amRNSAcquisition of 49% minority interest in Setcar
31st Jan 20247:00 amRNSContract win with FORD Otosan
20th Dec 20237:00 amRNSAcquisition of groundbreaking technology
15th Dec 202311:44 amRNSExpansion of collaboration with Miguel Caballero
10th Nov 20237:00 amRNSChange of Nominated Adviser
27th Sep 20237:00 amRNSHalf-year Report
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8th Sep 20237:00 amRNSNotice of Interim Results
7th Sep 20237:00 amRNSSignificant contract secured with LIBERTY Galati
19th Jul 20237:00 amRNSProject tender awarded
29th Jun 20237:00 amRNSDirecta Plus receives two new Italian patents
22nd Jun 20237:00 amRNSNew concept for produced water decontamination
15th Jun 20235:40 pmRNSResult of AGM
8th Jun 20237:00 amRNSNew product launch
19th May 20237:00 amRNSPosting of Annual Report and Notice of AGM
10th May 20237:00 amRNSFinal Results
9th May 20237:00 amRNSNew contract with customer Alfredo Grassi
27th Apr 20237:00 amRNSNotice of Results Presentations
20th Mar 20237:00 amRNSNew Patent Granted
27th Feb 20237:00 amRNSTrading Update and Notice of Results
21st Dec 20227:00 amRNSNew significant contract with Pigmentsolution
5th Dec 20222:05 pmRNSSecond Price Monitoring Extn
5th Dec 20222:00 pmRNSPrice Monitoring Extension
2nd Dec 20227:00 amRNSTrading Update
29th Nov 20227:00 amRNSGrant Award
21st Nov 20227:00 amRNSDirectorate Change
28th Oct 20227:00 amRNSFirst Commercial Contract in Latin America
21st Oct 20227:00 amRNSFirst Major Commercial Contract for Gipave
17th Oct 20227:00 amRNSBoar Changes
17th Oct 20227:00 amRNSBoard Changes
29th Sep 202211:05 amRNSSecond Price Monitoring Extn
29th Sep 202211:00 amRNSPrice Monitoring Extension
29th Sep 20227:00 amRNSHalf-year Report
1st Sep 20227:00 amRNSTrading Statement
30th Aug 20227:00 amRNSUS Patent Notice
4th Aug 20227:00 amRNSPartnership Extension and US Patent Award
19th Jul 20227:00 amRNSAgreement with REDA Energy for Grafysorber
5th Jul 20227:00 amRNSSupply Agreement
22nd Jun 20227:00 amRNSGrant of Italian Filtration Patent
17th Jun 20223:40 pmRNSResult of AGM
17th Jun 20227:00 amRNSAGM Statement
19th May 20227:00 amRNSPosting of Annual Report and Notice of AGM
5th May 20227:00 amRNSFinal Results
22nd Apr 20227:00 amRNSPartnership to Develop Automotive Fabrics
4th Apr 20227:00 amRNSUS EPA Authorises Grafysorber for Use in US
7th Mar 20227:00 amRNSOxfordshire Starts Second Trial of GiPave
28th Feb 20224:50 pmRNSExercise of Options
8th Feb 20225:20 pmRNSHolding(s) in Company

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