Directa Plus (DCTA) H1 2025 earnings summary

Executive summary

• Revenue grew 15% year-over-year in H1 2025 to €3.90m, driven by strategic focus, operational improvements, and restructuring.

• EBITDA loss reduced by 38% year-over-year to €1.13m due to cost optimization, production upgrades, and efficiency gains.

• Major production line reengineering enabled full automation, cost reduction, and entry into nanographite and blended materials markets, with full commissioning expected in Q4 2025.

• Secured first sole source contract with a leading governmental defense agency for textile applications.

• Strong recurring revenue base of approximately EUR 6 million annually from long-standing contracts.

Financial highlights

• H1 2025 revenue increased by 15% to €3.90m compared to H1 2024.

• EBITDA loss narrowed by 38% to €1.13m year-over-year.

• Contribution margin rose to 54% from 52% year-over-year.

• Cash position as of June 2025 was €2.97m.

• Net assets at 30 June 2025 were €5.46m.

Outlook and guidance

• Expectation of continued double-digit revenue growth in 2026, supported by recurring contracts and new verticals from R&D.

• Near-term EBITDA breakeven anticipated, driven by cost reductions and margin improvements.

• FY25 EBITDA projected to materially improve year-over-year, though moderated by project delays and contract pricing pressures.

• Board confident in delivering year-on-year EBITDA improvement.

• Upgraded production line expected to open new markets in H2 2025.