Mondelez cut Q2 revenue growth 3% following Nyetya impact
The security breach prevented the company from shipping and invoicing during the last four days of its second quarter, the company reported. Affected systems are now back up and running. Mondelez was one of many companies around the globe affected by the attack referred to as NotPetya, ExPetr or Nyetya. Other victims included U.S. drug maker Merck and shipping giant Maersk.
Mondelez said there are some markets where it permanently lost som revenue because of holiday feature timing. However, the company thinks it can make up for most of its delayed shipments in its third-quarter results. Mondelez will give another update on impacts of the cyberattack when it reports its second quarter earnings in August.
The Mondelez announcement underscores the damage cyberattacks can cause. Such attacks can have long-lasting, bottom-line impacts as companies struggle to restore business processes. That is one of the main reasons companies are taking cybersecurity more seriously and determining the best ways to protect themselves.
Global cyberattacks have become more common this year, with attackers honing skills and launching new attacks designed to make significant global impacts. It’s likely such attacks will continue, motivated by money or simply by attackers that want to demonstrate their ability to disrupt business. Total defense against such attacks is nearly impossible. Timely backups are the best strategy for ensuring such attacks don’t completely derail a company.
Companies are also being more transparent about how cyberattacks are derailing business as usual. Maersk, for example, rolled out constant updates when it Nyetya disrupted its core applications, interferring with port activity and trade routes around the world.