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LONDON - Directa Plus plc (AIM:DCTA), a producer of graphene-based products, announced its financial results for the year ending December 31, 2024, revealing a mixed performance marked by revenue dips but also strategic progress and robust trading in the first quarter of 2025.
The company reported a decrease in product sales and service revenue to €6.66 million, down from €10.53 million in the previous year. This decline was attributed to delays in customer orders and contract awards in the Environmental Remediation and Textiles divisions, alongside a strategic exit from certain lower-margin contracts.
Despite the revenue setback, Directa Plus managed to increase its cash reserves to €4.98 million, significantly bolstered by a capital raise in June 2024. Adjusted LBITDA (loss before interest, taxes, depreciation, and amortization) widened by 42% to €3.64 million, primarily due to the lower revenues, although this was partly offset by ongoing cost control measures and production efficiencies.
The company’s Textiles division, accounting for 20% of revenue, faced challenges due to weaker consumer spending and a slowdown in the European textile market. However, signs of recovery were supported by stabilizing inflation rates.
In the Environmental Remediation sector, which represented 79% of revenue, Directa Plus strengthened its position by acquiring a further 49% stake in Setcar, increasing its holding to 99.95%. Post-period, the company secured several new contracts, including renewals with FORD Otosan and a new contract with MIDIA International.
Looking ahead, Directa Plus reported robust trading in Q1 2025, with revenues of approximately €2 million, marking a 40% increase over the same period in 2024. The current order book stands at approximately €7 million for FY2025, further supported by a promising pipeline of opportunities.
Giulio Cesareo, Founder & CEO of Directa Plus, stated, "Good strategic progress was made in the year to offset challenges presented by some contract delays and external pressures and strengthen the Group, laying the groundwork for sustainable future growth."
The company is confident in achieving results for FY25 in line with market expectations, as it continues to focus on reducing its cost structure and capitalizing on future opportunities as market conditions stabilize.
This financial summary is based on a press release statement from Directa Plus plc.
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