Cenkos: Directa Plus Plc --Directa Plus Plc

Directa Plus has announced that it has seen the fulfilment of a number of signed orders and contract award decisions postponed until 2023 due to supply chain issues across Europe and the impact of general macro and geopolitical factors. As a result, it expects recognition of orders totalling c€2m to be deferred into the new financial year (FY23), with revenues in the year to 31 December 2022 now expected to be at least €10m. Directa Plus now expects enter FY23E with a record order book of c€8.5m

Revenue growth tempered by supply chain disruption

Today’s trading update tempers revenue growth expectations for FY22 and FY23, reflecting the impact of supply chain disruption and wider macro/ geopolitical factors. Current year revenue is now expected to be no less than €10m (+16% YoY but below our previous €12.7m forecast) following delays to c.€2m of orders. We reduce FY23 forecasts as well (to €13m from €18m previously), which we consider to be a prudent approach. Directa continues to win meaningful contracts with new and existing customers

Cenkos: Directa Plus Plc -- Grant for paints and coverings

Directa Plus has announced it has won the award of a non-repayable grant of €136,000 from the Italian Region of Lombardy for the development of paints and coverings embedded with the Company's G+® graphene nano-platelets. Directa Plus has been working on the development of a new technology for the coatings market for some time and has invented a granular, semi-finished G+® formulation, called Grafyshield. Grafyshield G+® is designed to be easy to handle and mixable with resins using existing mi

Hybridan Small Cap Feast 21/10/22

Joiners: Sondrel (SND.L) has joined AIM. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Ithaca Energy, a UK independent exploration and production company focused on the UK North Sea, intends to join the Premium Segment of the Main Market. Ithaca Energy is one of the largest independent oil and gas companies in the UKCS, ranking 2nd by resources and 3rd by production. During the six months ended 30 June 2022, Ithaca Energy's average daily production (oil and gas) on a net workin

Cenkos: Directa Plus Plc -- First major contract for Gipave

Directa Plus has announced that its G+ graphene enhanced asphalt, developed with Iterchimica and branded Gipave, has been selected for a first major commercial contract. The contract will see the Gipave used on a 125km section of the A4 Torino-Milano motorway section, managed by the ASTM Group. Both directions of this six-lane motorway (three each side) will be paved with this innovative, sustainable, resilient and safe asphalt. The Gipave will be made with G+® graphene and specially selected re

Cenkos: Directa Plus Plc --On track for over 40% revenue growth

Directa Plus reported interim results in line with the trading update on 1 September 2022. Most verticals are performing strongly with revenue growth for the full year expected to be over 40%. This excludes a significant tender in the environmental vertical which is likely to be delayed into FY23 due to the uncertain economic environment. We are trimming this tender off our revenue forecasts and bringing our revenue expectations in line with guidance. We continue to see Directa Plus as a standou

H1: robust commercial traction; cost pressures to ease in H2

Directa Plus has reported its interim results, which have been well trailed. Revenues increased by 39%, while EBITDA losses were contained to €1.3m (PY: €0.9m). The robust sales performance can be attributed to mgmt.’s proven ability to convert commercial opportunities as the interest in graphene continues to grow. This prompts us to leave our revenue growth forecasts unchanged, noting the significant upside potential should the DCTA win the Setcar contract. The challenging environment/inflation

Cenkos: Directa Plus Plc - Solid 1H FY22 trading update

Directa Plus has released a solid trading update for the six months ended 30 June 2022 noting that the business continues to perform strongly across all verticals. As a result, based on its unaudited management accounts, it expects to report that total revenues for H1/22 have grown c.39% to €5.5m (H1/21 €3.95m). As a result, the Board is confident of the continued growth trend and that it expects the company to deliver revenue growth of greater than 40% YoY (FY21: €8.6m). It adds that despite

Commercial traction accelerates despite headwinds

Directa Plus has announced a half year trading update, detailing strong top line growth of 39%, driven by a robust performance across all divisions. The commercial progress is a clear positive, given the challenging macro-backdrop/inflationary cost constraints, which have put downward pressure on margins. To accommodate for this, we rebase our FY22/FY23 EBITDA forecasts downwards by €1.7m/€0.9m to -€2.0m/€0.9m, leaving our revenue growth assumptions unchanged (47%/43%). We note, however, managem

Hybridan Small Cap Feast 04/08/2022

Dish of the day Joiners: No joiners today. Leavers: Cambium Global Timberland has left AIM. What’s cooking in the IPO kitchen?** Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integ

Cenkos: Directa Plus Plc -- Supply agreement and US patent

Directa Plus has announced that it has signed a two-year extension to its commercial Supply Agreement with Alfredo Grassi SpA for the workwear market in Italy and France.

Cenkos: Directa Plus Plc -- Distribution agreement with REDA Energy

Directa Plus has announced that it has signed a Commercial Agreement with REDA Energy Ltd for the distribution of Grafysorber® oil response products in certain agreed territories. REDA, is a division of the REDA Group, a leading Tier 1 chemical manufacturer and supplier of products and services to global oil and gas sector headquartered in Dubai with over 2600 employees worldwide across 40 countries. The Commercial Agreement follows successful testing of the products by REDA customers in the No

Cenkos: Directa Plus Plc -- New supply agreement

Directa Plus has announced that it has signed a supply agreement with Officine di Cartigliano, for its patented G+® pristine graphene nanoplatelets technology, worth €150k over one year on a take or pay basis. Officine di Cartigliano is the Italian based leader in the production of tanning equipment for the textile industry and will be using a formulation of the Company's G+® based textile finishing application to improve the performance of its equipment, particularly to address antistatic issue

Hybridan Small Cap Feast 17/06/2022

*A corporate client of Hybridan LLP Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Visum Technologies seeking admission to The AQSE Growth Market. The Company's business is to own and operate an "on-ride" video and photographic camera system that it sells and/or licenses to customers (being theme parks, ride manufacturers, souvenir imaging providers, and other leisure operators). Due 30 June. LifeSafe Holdings, a fire safety

Cenkos: Directa Plus Plc -- Acceleration of trading as expected

Directa Plus has announced that it has seen an acceleration in trading in the past two months with revenue to the end of May 2022 of €4.60m. This is approximately 44% ahead of the same period last year, driven by growth across all of its commercial verticals, and is in line with expectations. Directa Plus also highlights that it remains optimistic on its ability to secure a very material contract for which it has tendered via the Company's subsidiary, Setcar, for Environmental Remediation servic

Terminating coverage

Strong finish to 2022, upgrade to 2023

Somero Enterprises - Year-end trading update – slightly lower than expectations

The update reflects some slight customer supply chain constraints, with the resultant FY revenue and EBITDA slightly down on previous guidance. Underlying market demand remains positive with expected backlogs. Strong growth was again recorded by Europe (+20%) and Australia (+40%). We reduce our revenue for FY22 by 3.5% with a 3.7% reduction in Adj EPS. Lower net cash of $34.0m is also reflected in dividends, which we reduce by 22% to 37.5ȼ. The growth story remains strong with international grow

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

This Week's AIM Highlights 20th January 2023

LIBERUM: SigmaRoc* - Good start to 2023 with strong pipeline

LIBERUM: Yü Group* - Yet more upgrades

Strix (KETL LN) - Full year trading update

Strix have issued a full year trading update indicating profit after tax will be c. £23.0m, in line with updated guidance provided in the 30 November 2022 trading update following completion of the Billi acquisition. Year-end net debt came in at £87.0m, slightly ahead of Zeus forecasts, leaving the company well placed to bring net debt / EBITDA materially below 2.0x during FY23. Profitability being in line provides confidence that the Zeus FY22 revenue forecast of £110.0m will be achieved, imply

FY23 expectations dashed; 12-month strategic plan unveiled; opportunity to accumulate?

As set out in its preliminary release ITM’s H1 results and FY23 outlook were below expectations. Revenues were lower, as sales related to the Leuna project were deferred to FY24. On the cost side, gross loss expanded due to inventory losses, and increased contract and warranty provisions. ITM also announced the signing of two 100MW projects to Linde Engineering, a strategic review of Motive Fuels, and a new 12-month strategic plan to reorient the company towards manufacturing and delivery.

Q4 & FY22 Trading Update

Capital Limited (LSE: CAPD) this morning provided its Q4 & FY2022 trading update. The Company has continued to perform strongly in 2022 with Q4 revenue 8.2% higher QoQ and 18.9% higher YoY. The full year of revenue has once again exceeded the revised guidance (albeit marginally) and our estimates.

ITM Power - A Major Reset

ITM’s new CEO has outlined a major reset for the company focused on transforming it into a volume manufacturer of market leading electrolyser technology. Getting there will involve a lot of work and cost and today’s revised guidance shows a near doubling of EBITDA loss against the original consensus for FY23. FY 24 should start to see the benefit of cost cutting and the company has also announced two new 100MW contracts announced today with Linde. Importantly, ITM has the cash reserves to suppor

ITM Power (ITM LN) - H1 FY 2023 results

ITM has released its H1 results to the end of October 2022, alongside providing an update on the company’s strategy under its new CEO. The statement is something of a curate’s egg, showing an expectation of poor FY 2023 financial performance (as previously flagged), but also a new strategy focused on manufacturing scale-up, and signature of two new 100MW contracts.

Hybridan Small Cap Feast - 25 Jan 23

25 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

SHORE CAPITAL - Ultimate Products+ (UPGS) - House Stock, 170p - Returning to Ambiente - a commercial opportunity

Hybridan Small Cap Feast - 17 Jan 23

17 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object