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Eagers Automotive Grapples with Cyber Incident, Remains Confident in Financial Outlook


Australia's Eagers Automotive is currently facing a cyber incident that has impacted its IT systems, causing disruptions in finalizing transactions for certain new vehicles ready for delivery. This situation reflects the broader cybersecurity challenges witnessed across corporate Australia, prompting government reforms.

The operational impact of the cyber incident varies across regions and business units in Australia and New Zealand, with financial implications for the fiscal year 2023 primarily related to transaction deferrals during the last five days of December. Despite this setback, Eagers Automotive assures stakeholders that the impact on the statutory profit before tax is not expected to be material.

Eagers Automotive projects that the deferred transactions will be recognized in the 2024 financial year once they are appropriately finalized within their systems. Despite the cyber challenges, the company maintains confidence in delivering a record underlying operating profit before tax for the 2023 financial year.

Eagers Automotive's encounter with a cyber incident highlights the pervasive cybersecurity risks in corporate Australia. However, the company's assurance of minimal financial impact and confidence in its future outlook underscores its resilience in the face of digital threats. As Eagers Automotive navigates these challenges, it exemplifies the adaptability required to overcome unforeseen obstacles in the dynamic landscape of cybersecurity.

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