Directa Plus PLC (LON:DCTA) has reported a surge in revenues over 2020 as the firm said it had maintained its focus on delivering products into its core environmental remediation and textile verticals.
For the 12 months to December 31, the maker of graphene-based products reported that its sales and service revenues have increased 144% to €6.4mln, while its underlying loss (LBITDA) narrowed to €2.6mln from €2.7mln, in line with market expectations.
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The firm also highlighted a shift in its revenue mix, with environmental remediation now accounting for 68% of revenues compared to 33% in 2019, while textiles made up 30% of revenue from 63% previously.
Looking ahead, Directa Plus said it is “confident about future prospects and expects continuous growth”, adding that it has seen a “strong performance” in the first four months of 2021 with revenues for the period up 49% year-on-year at €2.8mln.
"Despite the impact of [Coronavirus], 2020 saw great progress for Directa Plus not only in our key verticals of environmental remediation and textiles, but also in the other industrial sectors such as composites, batteries and consumer electronics,” founder and chief executive Giulio Cesareo said in a statement.
“We have an excellent pipeline of opportunities and our proprietary scalable, modular manufacturing process allows us to produce high quality engineered graphene materials at an attractive price point. We consider health and safety of all stakeholders and environmental protection as top priorities and we expect another year of good progress in 2021. We are particularly excited by our partnership with NexTech for high performance Lithium-Sulphur batteries where we believe we are making excellent progress," he added.