Operations, Trading of Eagers Automotive Disrupted by Cyberattack

Operations, Trading of Eagers Automotive Disrupted by Cyberattack

December 29, 2023 at 05:06AM

Australian and New Zealand vehicle dealer Eagers Automotive (ASX: APE) experienced a cyberattack, leading to disruptions and a trading halt on the Australian Securities Exchange. While most dealerships remain open, the incident has affected transaction finalization and some operational IT systems. The company does not anticipate a significant financial impact and is assessing potential data compromises.

Key takeaways from the meeting notes about Eagers Automotive:

1. Eagers Automotive (ASX: APE) experienced a cyberattack that disrupted its operations, leading to a trading halt on the Australian Securities Exchange.

2. The cyber incident caused an outage of certain IT systems at operational locations in Australia and New Zealand, impacting the company’s ability to finalize transactions for new vehicles and affecting its service and parts operations to some extent.

3. The financial impact for the year ending 31 December 2023 is expected to primarily relate to deferred recognition of transactions, but the company does not expect the impact to be material to the Statutory Profit Before Tax for the 2023 financial year.

4. Eagers Automotive is investigating the potential compromise of personal information and has committed to notifying affected individuals if a data breach is discovered.

5. The nature of the cyberattack has not been disclosed, and as of December 29, no ransomware group has claimed credit for the incident.

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