Mondeléz Reveals Extent Of Impact Of Cyberattack On Operations
Mondeléz International, one of a handful of international food and retail businesses impacted by the recent global cyberattack on 27 June, has said that it believes that the attack will lead to negative-300 basis points on the company's second-quarter growth rate.
The main impact of the attack was on the group's ability to ship and invoice during the last four days of its second quarter. In some markets, it has "permanently lost" some of that revenue due to holiday-feature timing, but, in most markets, it will be able to realise the majority of the delayed shipments.
The group said that since the cyberattack, its teams "have done remarkable work to continue to operate the business, manufacture our products, serve customer needs, and progress the recovery activities. We believe the issue has been contained and a critical majority of the affected systems are up and running again."
In terms of the group's full-year performance, however, Mondeléz said that it remains confident that it will be able to post full-year organic revenue-growth outlook of at least 1%.
"We expect to incur incremental one-time costs in both our second and third quarters as a result of this issue, but our underlying margin progress continues to be in line with our outlook of mid-16% for the full year."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.