Mondelēz revenue growth to be hit by cyber-attack

Posted 7 July, 2017
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Cadbury owner Mondelēz International has warned that a global cyber-attack last month could have a negative impact on its second quarter revenue growth.

Although it is making “good progress” in restoring its systems and believes the issue has been contained, with many of the affected systems up and running again, the cyber-attack on 27 June disrupted the company’s ability to ship and invoice during the last four days of its second quarter.

“There are a few markets where we have permanently lost some of that revenue due to holiday feature timing, but we expect we will be able to recognise the majority of these delayed shipments in our third quarter results,” Mondelēz said in a statement.

The company said its preliminary estimate of the revenue impact of this event is a negative 300 basis points on its second quarter growth rate.

Although Mondelēz said it is still assessing the full financial impact of the event, it has, however, reaffirmed its full-year organic revenue growth outlook of “at least 1% growth”.

“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,” it concluded.

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