Directa Plus PLC (LON:DCTA), a producer of graphene nanoplatelets-based products, said trading in the first quarter of 2020 has been robust.
Revenues are expected to clock in at around €1.52mln, slightly more than triple the level they were in the same quarter of 2019.
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This significant improvement has been primarily driven by the strengthening performance of Setcar, Directa Plus’s environmental division.
The order book to date is in line with management expectations for 2020 with confirmed orders of €5.85mln, while discussions over other significant contracts are taking place.
The group has received its first order from Iterchimica for Directa G+ ITC1 nanoplatelets for asphalts to be used in the production of Gipave, the graphene-enhanced asphalt.
Results from the UK trials in November 2019 are expected shortly and Directa Plus said it is seeing growing interest from asphalt companies in the UK and also now from the USA.
The group’s full-year results will be released in May, with Directa Plus expecting to post a loss before tax of no more than €3.6mln, in line with market expectations, on revenues of around €3.0mln, up from €2.25mln the year before.
"The strategy we are pursuing to gain traction and capture more value in our key vertical markets is succeeding. We hope that this will help insulate us from the worldwide economic uncertainty caused by the coronavirus,” said Giulio Cesareo, the founder and chief executive officer of Directa Plus.