Eagers Automotive Limited found itself at an unexpected crossroads on December 27, 2023, as it instated a trading halt to diligently attend to its continuous disclosure obligations in the wake of a newly discovered cyber incident. Amidst speculation regarding Eagers Automotive cyberattack, the company issued an apology to customers for any inconvenience caused by the unforeseen disruption.
The cyberattack on Eagers Automotive has significantly impacted the company’s IT infrastructure, leading to widespread operational disruptions at numerous locations in Australia and New Zealand.
“The company has experienced a cyber incident resulting in an outage that is disrupting parts of the company’s operations across Australia and New Zealand,” reads the Official statement by Eagers Automotive.
Despite the majority of dealerships remaining open, the operational impact varies across regions and business units. The disruption primarily affects the finalization of transactions for new vehicles and certain aspects of the company’s service and parts operations.
Financial Ramifications After Eagers Automotive Cyberattack
While the financial impact for the year ending 31 December 2023 is expected to be related to deferred recognition of transactions in the last five days of December 2023, the company anticipates a minimal material effect of Eagers Automotive cyberattack on the Statutory Profit Before Tax for the 2023 financial year.
The financial impact of the cyber incident for the year ending 31 December 2023 is expected to primarily relate to the deferral in the recognition of some transactions across the last 5 days of December 2023,” informs Eagers Automotive Spokesperson.
Eagers Automotive remains confident in delivering a record underlying operating profit before tax for the same period. The deferred transactions are anticipated to be recognized in the 2024 financial year once appropriately finalized within the systems.
Eagers Automotive Cyberattack: Ongoing Investigation
In response to the cyberattack on Eagers Automotive, the Firm has promptly initiated an investigation, enlisting the support of external experts to ascertain the incident’s full extent.
The company prioritizes the security and privacy of customer and employee data and has notified the Australian Cyber Security Centre and the New Zealand National Cyber Security Centre.
“A primary focus of the investigation is to understand whether any personal information has been impacted. This remains under close review. Should our investigations reveal any unauthorised access to personal information, the company will notify affected individuals in accordance with our obligations,” emphasized Eagers Automotive officials.
The ongoing Eagers Automotive cyberattack investigation focuses on determining whether any personal information has been compromised. Eagers Automotive assures that affected individuals will be promptly notified if unauthorized access to personal information is discovered.
Further, Eagers Automotive assures stakeholders that it will remain on a trading halt until a further ASX announcement is issued in compliance with Listing Rule 3.1. The company pledges to keep all relevant stakeholders updated as the investigation progresses and further facts are established.
In the face of these operational challenges, Eagers Automotive remains steadfast in its commitment to addressing the Eagers Automotive cyberattack, minimizing disruptions, and upholding the trust and confidence of its customers and stakeholders alike.
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