LONDON (ShareCast) - (Sharecast News) - Directa Plus has reported a 15% increase in first-half revenue on Monday, alongside a substantial reduction in losses, as the graphene products specialist benefitted from high-value contracts and improved operational efficiency.
For the six months ended 30 June, the AIM-traded company said it expected to report unaudited revenue of €3.9m, up from €3.39m in the same period last year.

EBITDA losses were projected to narrow by 40% to around €1m, compared to €1.8m in the first six months of 2024.

That performance would be in line with management expectations, reflecting cost control measures, strategic restructuring, and a focus on higher-margin business.

The firm noted significant progress at its environmental subsidiary, Setcar, which had been reorganised to deliver stronger financial discipline.

Setcar secured new agreements during the period, including a contract extension worth €1.59m with OMV Petrom and an initial agreement worth up to $1.5m with Midia International, both involving Directa's patented 'Grafysorber' technology for environmental decontamination.

In addition, Directa renewed contracts with clients including Grassi, MC Armor, Ford Otosan, Cummins, and Metchem across its environmental and textiles divisions.

A new US distribution agreement was also signed in the second quarter, targeting expansion in the American environmental decontamination market.

Production system upgrades were expected to be fully operational by September.

Those would include enhanced process automation, improved production capacity, and the replacement of argon with nitrogen gas to reduce energy costs.

The upgrades would allow Directa to produce nano-graphite and additives for the first time, expanding its addressable market by at least tenfold and supporting growth in strategic sectors such as elastomers, batteries, composites, paints, and cement.

"Our stronger first-half performance, marked by revenue growth and a significant LBITDA improvement, demonstrates the effectiveness of our strategic focus and disciplined cost management," said CEO Giulio Cesareo.

"Building on continued contract wins across our key markets, operational efficiencies, and targeted capital investment, we anticipate stronger growth in the second half of the year, as has consistently been the case, and we are seeing a significant and promising pipeline of opportunities."

The company reiterated its confidence in meeting market expectations for adjusted LBITDA for the full year.

It said it would publish its interim results on 26 September.

At 1406 BST, shares in Directa Plus were up 5.86% at 10.48p.

Reporting by Josh White for Sharecast.com.

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