Retail group Ahold Delhaize announced on October 25, 2023, that last month's cyber attack on its stores in the Netherlands, Belgium, and the United States could lead to a reduction in the group's fourth-quarter revenues by up to €250 million (equivalent to $281 million). This attack has caused disruptions in the supply chain and shortages of goods in the Albert Heijn supermarket chain in the Netherlands, and has also affected some operations in Belgium and the United States.
Impact of the Cyber Attack on Financial Forecasts
Ahold Delhaize stated in its third-quarter financial results: "Based on current estimates, we expect this incident to reduce fourth-quarter net income by between €200 million and €250 million." This situation has led to a decrease in the company's annual profit forecasts.
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Frans Muller, CEO of Ahold Delhaize, commented: "Cyber threats have become an increasing reality in today's business world." He also added that this attack "naturally attracted a lot of attention" but should be placed in a reasonable context. Muller emphasized: "Our response reflects the resilience of our business. This incident cannot define our identity."
Cyber Attacks Across Europe
In fact, this cyber attack was not limited to Ahold Delhaize, as on Monday, grocery stores in at least nine other European countries were also affected by a suspected cyber attack on freezer systems. The European Union warned about these attacks, stating that this action is a deliberate attempt to disrupt the food supply chain of the Union. So far, no one has claimed responsibility for this wave of attacks on European supermarkets.
Despite these challenges, Ahold Delhaize reported in its financial report that their third-quarter sales increased by 1.9% compared to last year, reaching €23.1 billion. Additionally, the company's shares on the Amsterdam Stock Exchange rose by about 2%, outperforming the overall market, which only grew by 0.5%.
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