Eurofins reported a cyber-attack on its IT systems a few days back. The recovery work is ongoing and no unauthorised theft or loss of confidential client data has been reported to date. Although there is no clarity on the financial impact so far, management has alluded to it being ‘material’. We attempt to estimate this loss in a scenario-based model, but conclude that the share price correction was an overreaction.
13 Jun 2019
Eurofins struggles with cyber-attack
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Eurofins struggles with cyber-attack
Eurofins Scientific SE (ESF:WBO) | 0 0 1.6% | Mkt Cap: 8,723m
- Published:
13 Jun 2019 -
Author:
Mohit Rathi -
Pages:
4
Eurofins reported a cyber-attack on its IT systems a few days back. The recovery work is ongoing and no unauthorised theft or loss of confidential client data has been reported to date. Although there is no clarity on the financial impact so far, management has alluded to it being ‘material’. We attempt to estimate this loss in a scenario-based model, but conclude that the share price correction was an overreaction.