Business
Full year trading and operational update
Directa Plus plc expects to report full-year revenues of €7.0m for 2025, an increase from €6.66m in 2024, with adjusted LBITDA broadly in line with market expectations of approximately €2.5m, reflecting disciplined cost control and operational efficiencies. The company has made advances in production technology, broadening its portfolio to address high-growth applications, and has achieved significant cost savings of at least €0.7m annually from restructuring initiatives at Setcar. Setcar also secured a €1.5m Total Waste Management contract with Ford and is evaluating the sale of non-strategic land valued at approximately €0.5m. The Group ended 2025 with €1.5m in gross cash balances and anticipates needing requisite funding in 2026 to support future growth, with the Board exploring options to monetize its intellectual property. Non-Executive Chairman Richard Hickinbotham will step down on January 31, 2026, with Giulio Cesareo assuming the role of Interim plc Chairman. Disclaimer*
About this update from Directa Plus Plc
[{"type":"text","content":"\n\n7 January 2026\nDirecta Plus plc\n(\"Directa Plus\", the \"Group\" or the \"Company\")\n \nFull year trading and operational update\n Board change\n \nDirecta Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces an update on trading for the year ended 31 December 2025 (\"FY25\").\n \nThe Group expects to report, subject to audit, revenues of €7.0m (FY24: €6.66m) and adjusted LBITDA for the year broadly in line with market expectations of approximately €2.5m (FY24: €3.64m), reflecting c.30% improvement year on year, underpinned by disciplined cost control and operational efficiencies.\n \nProduction optimisation\nThe Group made advances in technology, production and product capabilities, strengthening its ability to manufacture advanced graphene-based materials at low cost, at scale and with highest levels of consistency. Production enhancements to develop interlocked and blended graphene materials have broadened the portfolio, further enabling the Group to address high-growth applications including PFAS-related fields, defence and highly regulated industrial sectors. These important development come at the time when interest in the graphene market is growing exponentially as market participants look to incorporate graphene into existing products and products road maps.\n \nSetcar review and contract win\nManagement continues to focus on restructuring initiatives across Setcar, which has generated significant headcount reductions, operational efficiencies and margin improvements for at least €0.7m of annualised cost savings in FY25. Setcar is now better positioned to pursue opportunities within the strategically important Environmental Remediation market, underpinned by its technical expertise and extensive regulatory approvals.\n \nIn December 2025, Setcar won a competitive tender for a €1.5m Total Waste Management contract with Ford for a further 15 months. The company is now in the process of finalising the formal contract.\n \nWork to deliver further efficiencies at Setcar is progressing and the Board will continue to evaluate the best options, improving overall capital allocation and how best to maximise shareholder value.\n \nSeparately, a process has commenced to realise the pote...