Directa Plus (DCTA) H2 2024 earnings summary

Executive summary

• Faced headwinds in 2024 due to delays in key customer orders and challenges from the Ukraine war impacting an acquired company.

• Completed full acquisition and restructuring of Setcar, leading to operational improvements and renewed contracts.

• Renewed production team and remodeled production line to enhance quality, price, and volume.

• Transitioned focus to higher-margin contracts and exited lower-margin business.

Financial highlights

• 2024 revenues were EUR 6.7 million, down due to order delays and strategic contract exits.

• EBITDA loss increased, mainly from lower revenues, partially offset by improved gross margin.

• Raised GBP 6.9 million in mid-2024, ending the year with GBP 5 million in cash.

• Q1 2025 revenues approximately EUR 2 million, up 40% year-over-year.

Outlook and guidance

• Expecting recovery in 2025 with higher revenues and improved margins from cost-saving measures.

• Sufficient cash to cover burn and investment needs for at least the next year.

• Anticipates benefiting from growing global graphene demand across multiple applications.