All Addtech companies back in operation after the IT attack

The Addtech companies affected by the IT attack on October 30 now all have access to secure IT environments and functioning systems. Most are back in relatively normal production.
 

  • There is still a lot of work to be done, but we have solid ground under our feet again. Our subsidiaries have really done an incredible job, and thanks to our decentralised structure and strong culture, we have managed to keep large parts of the operations going throughout the attack. Now it feels good that we are in a position where we can again put all the focus on business and get back to normal, says Niklas Stenberg, president and CEO of Addtech.

An initial preliminary estimate shows that the data breach will have an effect on EBITA in fiscal year 2019/2020 with approximately 150 million SEK. A more detailed distribution between direct costs and the effects of loss of income, as well as distribution between business areas and quarters will be communicated as soon as possible before reporting the third quarter on February 5, 2020. Liquidity remains good in the Group as a whole.


As previously announced, the attack was a so-called ransomware attack in which 80 of the group's 130 companies were hit, equivalent to about half of the group's turnover. Following the attack, a brand new IT environment with significantly more security layers has been built together with some of Europe's foremost cybersecurity experts.


The attack has caused some data losses, but not to a significant extent in terms of the Group as a whole.
 

  • Being the victim of a cyber crime of this magnitude has been a very tough ordeal. This type of serious crime is a growing problem in society. I would very much like to thank our employees for all the invaluable efforts throughout the attack. We are also very happy for all the support we have received from the outside world. Customers, suppliers and other people affected have supported in different ways, and we really want to give them a big and warm thank you, says Niklas Stenberg.

For more information, please contact
Niklas Stenberg, CEO, +46 8 470 49 00
Malin Enarson, CFO, +46 8 470 49 00
Kerstin Danasten, Head of Communication: +46 708707168, kerstin.danasten@addtech.com

This information is information that Addtech AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.  The information was submitted for publication, through the agency of the contact person set out above on December 19, 2019 at 10.15 a.m (CET).

About Us

Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 2,900 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 10 billion. Addtech is listed on Nasdaq Stockholm.