Last checked at 27 Feb 2023 07:00
27 February 2023
Directa Plus plc
("Directa Plus" 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, is pleased to provide an update on trading for the year ended 31 December 2022 ("FY22") and on current trading and outlook.
On 2 December 2022, the Company announced that it expected FY22 revenues to be at least €10.0m, notwithstanding the fulfilment of orders totalling c.€2.0m being deferred into the new financial year due to the widely reported supply chain issues. Subject to completion of the audit process, the Group now expects revenues for FY22 to be not less than €10.8m, as a result of a strong performance in December, which represents a c.25% increase on the prior year.
This momentum has continued into 2023 with current trading in-line with market expectations1 and robust growth across all verticals supported by a strengthening pipeline of potential opportunities. The current order book for delivery in 2023 now stands at c. €8.8m, giving the Board confidence in the Company's continued growth in 2023.
Notice of results
The Company expects to announce its audited results for FY22 on 10 May 2023.
Giulio Cesareo, Founder and Chief Executive of Directa Plus, commented: "We made significant progress in FY22, fuelled by several contract wins and an increasingly supportive market backdrop as large supply chains increasingly look to incorporate our graphene into products to enhance performance and to provide more sustainable solutions. This year, we have demonstrated that our G+ technology has the ability to sit at the heart of a range of sectors and serve customers globally.
"The Company has entered FY23 in solid position, building on momentum from the end of the prior year. Our focus now is on developing our core verticals which are able to generate significant product demand and higher recurring revenue from customers. With an expanding network of customers and partners, a record order book and a strong balance sheet, I am confident in the Group's ability to deliver on its growth ambitions for the year ahead."
1) The Company understands that consensus market expectations for the year ended 31 December 2023 are for revenues of €13.45m and an EBITDA loss of -€1.7m (Source: Bloomberg)
Enquiries:
Directa Plus plc | +39 02 36714458 |
Giulio Cesareo, CEO | www.directa-plus.com |
Giorgio Bonfanti, CFO |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) | +44 131 220 6939 |
Neil McDonald | |
Adam Rae | |
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Singer Capital Markets Securities Limited (Joint Broker) | +44 20 7496 3069 |
Rick Thompson | |
Phil Davies | |
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Alma PR (Financial PR and IR) | +44 20 3405 0205 |
Justine James | directaplus@almapr.co.uk |
Hannah Campbell |
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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+®) 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. Directa Plus holds the Green Economy Mark from London Stock Exchange which recognises companies that contribute to the global green economy.
This trading update is provided in advance of the financial statements for the year ended 31 December 2022. The information and commentary provided is based on unaudited management accounts and other internal performance measures and is subject to concluding the routine annual accounting adjustments as well as any adjustments that arise as a result of the external audit process. Certain statements made in this trading update are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements.