Ardagh confirms it was hit by cyberattack

Packaging group Ardagh has confirmed it was hit by a cyberattack that forced it to shut down some of its systems as a precautionary measure.

The company said it initiated defence and containment procedures, and was working with external security experts to deal with the incident.

“We are progressively bringing key systems back online securely, in a phased manner. This is proceeding according to plan and is expected to be substantially achieved by the end of this month,” Ardagh said in a statement.

“We have engaged leading industry specialists to conduct a forensic investigation of this incident, and we will take appropriate actions in response to the findings.”

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The company said it had introduced additional protections across its network to enhance security and was accelerating planned IT investments.

Production at its packaging plants has continued, although there have been some delays due to the disruption caused by the attack.

Operations

“Certain other processes, including some supply chain operations, have been affected, and alternative solutions, including manual workarounds, have been implemented to enable us to continue to respond to our customers’ needs,” Ardagh said. “Delivery of the group’s business growth investment projects has not been impacted by this incident and remains on track.”

The disruption is likely to result in some deferral or loss of revenue, Ardagh said, in addition to incremental costs incurred. However, full-year guidance is currently unaffected.

“Current indications are that it will not affect our full year 2021 guidance for the group,” Ardagh said. “We do not expect the incident to have any effect on the financial results or position of Ardagh Metal Packaging, which will receive an indemnity on customary terms from Ardagh Group.”

Ardagh’s share price declined marginally following the news.