Business
Trading and Operational Update & Notice of Results
Trading and Operational Update & Notice of Results.
About this update from Directa Plus Plc
[{"type":"text","content":"\n\n7 April 2025\n \n \nDirecta Plus plc\n(\"Directa Plus\", the \"Company\" or the \"Group\")\n \nTrading and Operational Update & Notice of Results\n \nDirecta Plus (AIM: DCTA), a leading producer and supplier of graphene-based products for use in consumer and industrial markets, provides an update on trading in the first quarter of FY2025 and for the financial year ended 31 December 2024 (\"FY2024\").\n \nTrading Update and Notice of Results\n \nTrading in Q1 FY2025 has been robust, with revenues of approximately €2 million, up c. 40% from the same period in 2024. This improvement has been primarily driven by several contract renewals across the Environmental and Textiles divisions, including with Grassi, Ford Otosan, Cummins and Metchem. The Group's current order book stands at approximately €7 million for FY2025, supported further by a good pipeline of opportunities. As part of this positive momentum, Setcar announced an initial agreement with Midia International SA, worth up to $1.5 million in February 2025, to provide tank cleaning and waste disposal services for an offshore drilling campaign in the Black Sea. Group cash is approximately €4 million at the end of March 2025.\n \nThe Group expects to announce its audited results for FY2024 in mid-May 2025 and to report, subject to audit, an adjusted LBITDA of c. €3.6 million, in line with market expectations¹, from revenues of approximately €6.7m (FY23: €10.53).\n \nOperational Update\n \nThe Board is pleased to report that it has delivered approximately €0.5 million of targeted annualised cost savings through the identification of several operational improvements and efficiencies across the Group, which will be reflected in FY2025. As a result of this process, further potential savings are also now being targeted.\n \nAs part of the new strategic focus at Setcar, following the acquisition of full majority control in FY2024, the Board has implemented a headcount reduction and appointed a new General Manager to bring improved focus and leadership. Additionally, in line with this reorganisation, there is a process for further senior appointments in place, including a new Sales Director, to strengthen Setcar's commercial capabilities and support future growth.\nAt the Lomazzo plant, management have enhanced the production t...