Directa Plus PLC - London-based graphene product manufacturer - Says it ‘made strong progress’ in 2023, and expects to report revenue of about €11 million and a minimum 20% reduction in its adjusted loss before interest, tax, depreciation and amortisation, ‘slightly ahead’ of market consensus. Follows revenue of €10.9 million in 2022 alongside an €3.2 million adjusted Ebitda loss. Company says consensus predicts €12 million in revenue and a €2.5 million Ebitda loss for 2023. Last year’s ‘strong progress’ includes ‘securing new contracts across key geographies and in all verticals’ such as a €5.5 million three-year deal with Liberty Galati.

Company also says it is optimistic of delivering potential new material contracts in the short term, thanks to ‘momentum and increased engagement across all verticals, and a strengthening pipeline of opportunities’. Order book for delivery this year stands at around €7.8 million, ‘mostly made of recurring clients’.

Current stock price: 17.98 pence, up 5.7% on Monday morning

12-month change: down 77%

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