Directa Plus Reports Narrowed Pretax Loss for H1 2023

Directa Plus, the producer and supplier of graphene nanoplatelets-based products, has announced a narrowed pretax loss for the first half of 2023. This improvement can be attributed to higher gross margins and new contract wins. The company reported a pretax loss of 1.9 million euros ($2 million) for the six months ending June 30, compared to a loss of EUR2.2 million in the same period last year.

Although revenue dropped to EUR4.6 million from EUR5.5 million due to the timing of contract starts, the company remains optimistic about the rest of the year. Loss before interest, taxes, depreciation, and amortization was EUR1.25 million, compared to a loss of EUR1.4 million in the previous year.

For the full year, Directa Plus expects revenue to reach at least EUR12 million with an EBITDA loss of EUR2.5 million. These numbers indicate growth compared to last year's figures of EUR10.86 million in revenue and a loss of EUR3.6 million in EBITDA.

The company's improved gross margins, which rose from 42% to 46%, were driven by increased selling prices and lower production material costs.

"We are entering the second half of the year in a strong position, with improved margins and a growing business pipeline," said Chief Executive Officer Giulio Cesareo, expressing confidence in the company's future growth.

Directa Plus also assured stakeholders that it has sufficient liquidity to support its plans and strategy developments over the next 12 months.

At 1406 GMT, shares were up 0.50 pence or 1.05% at 48.0 pence.