AT&S falls after it cuts FY forecast, flags start-up delays at new plants
** Shares in AT&S ATSV.VI drop 8.8% after the Austrian semiconductor firm cut its FY 2024/25 outlook on Monday after market close
** The circuit board maker expects FY revenue of 1.5-1.6 billion euros ($1.6 billion-$1.7 billion), down from the previously announced range of 1.6-1.7 billion euros
** It says high-volume production at its two new plants will start one to two quarters later than originally planned and thus they are not expected to contribute to 2024/25 revenue
** "Even if we do not see this change as a material game changer, it is another negative change to business development. We expect a negative share price reaction," Erste Group analysts say
** The AT&S shares are at the bottom of the Austrian stock market .ATX and on track for their worst day since May if the losses hold
($1 = 0.9248 euros)
Reporting by Elizaveta Gladun
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