The victim confirmed a significant financial loss of approximately $85 million resulting from a recent cybersecurity incident. The incident, announced on June 13, affected the company's systems and some facilities. Although attacking ransomware group wasn't explicitly disclosed, it necessitated halting operations in certain locations while experts and law enforcement addressed the situation.
The CEO later revealed that the cyber incident had a substantial impact on the company's Q2 financial outlook. This "IT security incident" led to lower-than-expected Q2 financial results and took nine days to fully recover, causing critical disruptions. The incident would reduce full-year earnings by an estimated $60 to $70 million, with Q2 revenue being impacted by as much as $85 million.
The cyberattack had significant repercussions, particularly affecting segments outside of propulsion and engine parts.