AT&S falls after it cuts FY forecast, flags start-up delays at new plants

AT & S Austria Technologie & Systemtechnik AG

29/10/2024 08:18

** 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)
 ((elizaveta.gladun@thomsonreuters.com))