Business Wire

FedEx Files 10-K with Additional Disclosure on Cyber-Attack Affecting TNT Express Systems

Del

FedEx Corp. (NYSE: FDX) (“FedEx”) today filed its annual report on Form 10-K for fiscal year 2017 with the Securities and Exchange Commission. The filing includes additional information regarding the June 2017 cyber-attack on the worldwide information systems of TNT Express B.V. (“TNT”), the international express transportation, small-package ground delivery and freight transportation company FedEx acquired in May 2016.

TNT Express Cyber-Attack

On June 28, 2017, FedEx announced that the worldwide operations of TNT were significantly affected by the cyber-attack known as Petya, which involved the spread of an information technology virus through a Ukrainian tax software product. The systems and data of all other FedEx companies are currently unaffected by the attack. TNT operates in Ukraine and uses the software that was compromised, which allowed the virus to infiltrate TNT systems and encrypt its data. While TNT operations and communications were significantly affected, no data breach or data loss to third parties is known to have occurred as of the date of this press release.

FedEx implemented contingency plans immediately following the attack to recover TNT operations and communications systems. As of the date of this press release, all TNT depots, hubs and facilities are operational and most TNT services are available, but customers are still experiencing widespread service and invoicing delays, and manual processes are being used to facilitate a significant portion of TNT operations and customer service functions. We cannot estimate when TNT services will be fully restored. Contingency plans that make use of both FedEx Express and TNT networks remain in place to minimize the impacts to customers.

Our information technology teams have been focused on the recovery of critical systems and continue to make progress in resuming full services and restoring critical systems. We are currently focused on restoring remaining operational systems, along with finance, back-office and secondary business systems. We cannot yet estimate how long it will take to restore the systems that were impacted, and it is reasonably possible that TNT will be unable to fully restore all of the affected systems and recover all of the critical business data that was encrypted by the virus.

Given the recent timing and magnitude of the attack, in addition to our initial focus on restoring TNT operations and customer service functions, we are still evaluating the financial impact of the attack, but it is likely that it will be material. We do not have cyber or other insurance in place that covers this attack. Although we cannot currently quantify the amounts, we have experienced loss of revenue due to decreased volumes at TNT and incremental costs associated with the implementation of contingency plans and the remediation of affected systems.

Additional consequences and risks associated with the cyber-attack that could negatively impact our results of operations and financial condition are described in the corresponding risk factor included in the Management’s Discussion and Analysis section of our annual report on Form 10-K for fiscal year 2017, filed earlier today. In addition to financial consequences, the cyber-attack may materially impact our disclosure controls and procedures and internal control over financial reporting in future periods.

Reaffirmation of FedEx Express FY2020 Operating Income Guidance

FedEx reaffirms its commitment to improve the operating income at the FedEx Express Group by $1.2 billion to $1.5 billion in fiscal 2020 versus fiscal 2017, assuming moderate economic growth and current accounting and tax rules.

Corporate Overview

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $60 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 400,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

Additional information and operating data are contained in the company’s annual report, Form 10-K, Form 10-Qs and Form 8-Ks.

The Investor Relations page of our website, investors.fedex.com, contains a significant amount of information about FedEx, including our Securities and Exchange Commission (“SEC”) filings and financial and other information for investors. The information that we post on our Investor Relations website could be deemed to be material information. We encourage investors, the media and others interested in the company to visit this website from time to time, as information is updated and new information is posted.

Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, our ability to successfully integrate the businesses and operations of FedEx Express and TNT in the expected time frame, our ability to match capacity to shifting volume levels, changes in fuel prices or currency exchange rates, a significant data breach or other disruption to our technology infrastructure, legal challenges or changes related to FedEx Ground’s owner-operators and the drivers providing services on their behalf, new U.S. domestic or international government regulation, our ability to effectively operate, integrate and leverage acquired businesses, disruptions or modifications in service by, or changes in the business of, the U.S. Postal Service, the impact from any terrorist activities or international conflicts, the impact of the TNT cyber-attack described in this press release and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact information

FedEx Corp.
Media Relations:
Patrick Fitzgerald, 901-818-7300
or
Investor Relations:
Mickey Foster, 901-818-7468

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

The Geneva Association: Insurance Industry Taking Action in Addressing Climate Change, Although External Hurdles Remain22.1.2018 10:00Pressemelding

The insurance industry is contributing significantly to building socio-economic resilience to climate change and supporting the transition to a low-carbon economy in their role as risk management experts and investors, although a number of challenges are hindering the industry’s efforts to scale up its contribution, according to a new research report from The Geneva Association, the leading international think tank of the insurance industry. The report ‘Climate Change and the Insurance Industry: Taking Action as Risk Managers and Investors’ is based on interviews with 62 C-level executives of globally active insurance and reinsurance companies, and offers insights into the role of the insurance industry in addressing climate change adaptation and mitigation. Anna Maria D’Hulster, Secretary General of The Geneva Association, commented: “The study has confirmed that climate change is a topic that has made its way up to the boardrooms of the insurance industry, although insurers are neith

Yonnic GmbH Enriches Targeting for Clients with Digital Element’s IP Geolocation Data22.1.2018 09:03Pressemelding

Leading IP geolocation intelligence company, Digital Element, has today announced that Yonnic GmbH, the industry pioneer of performance marketing solutions, has chosen its NetAcuity technology to boost targeting efficiency for its clients. Yonnic delivers brand relevance for its clients by uncovering and converting consumer intent through its proprietary process Intent-Based Planning tool. Its core application, CloudTDS, provides traffic routing and content delivery based upon a wide range of customisable rules and settings, such as geographical targeting and device specific targeting. By incorporating Digital Element’s NetAcuity data into its solution, Yonnic is able to upgrade its geographical targeting to provide the most accurate solution to its clients. Adding additional IP intelligence datasets such as connection speed, mobile carrier, internet service provider and whether a home or business connection is being used enables Yonnic to further boost its targeting and analytics capa

Vertex Hires Regional Leader to Expand European Presence22.1.2018 08:53Pressemelding

Vertex, Inc., a leading provider of tax automation solutions, announced Akram El-Rikabi has joined the management team as the regional leader to head European operations. This announcement reflects the company’s growing global presence in the European marketplace and dedication to the international business community. Vertex Vice President of Global Business Development Rebecca Polley states, “Having a proven leadership team and strong regional presence in Europe is critical to engaging with our multinational clients, prospects and partners. In his role, Akram will support Vertex’s growth initiatives by leveraging his expertise in helping customers realize strategic value in their technology investments, especially in the increasingly complex global tax landscape.” El-Rikabi brings 20 years of experience in finance, economics, banking, global partnerships and software management, having worked with global corporations in over 20 countries. Most recently, El-Rikabi was the regional sale

Octapharma: Low inhibitor rate with octanate® in previously untreated patients (PUPs) with severe haemophilia A22.1.2018 08:00Pressemelding

Octapharma is delighted to announce the publication of final data from a Good Clinical Practice (GCP) trial in PUPs in the internationally renowned medical journal Haemophilia. The study assessed the immunogenicity, efficacy, safety and tolerability of octanate® in PUPs with severe haemophilia A. PUPs with haemophilia A are at greatest risk of inhibitor development. Approximately 35% develop inhibitors, which are associated with detrimental health and economic consequences. In this prospective, multinational study, 51 PUPs with severe haemophilia A received octanate® exclusively as replacement therapy, either prophylactically or for on-demand treatment of bleeds, for a total of 100 exposure days (EDs) or 5 years. Five (9.8%) of the 51 patients developed inhibitors, 4 (7.8%) of which were high titre (≥5 BU/mL) and 1 low titre (<5 BU/mL). All inhibitors developed during on-demand treatment and all 4 high-titre inhibitors developed within the first 20 EDs. All patients who developed inhib

Alkemics to Power productDNA:Hub – an Industry-Led Service to Help Retailers and Suppliers Share Product Data and Images22.1.2018 08:00Pressemelding

A group of leading UK grocery retailers and suppliers facilitated by GS1 UK, the product data standards organisation, has selected Alkemics to power productDNA:hub, the new service that helps retailers and suppliers to share and manage product data and images. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122005133/en/ The Alkemics platform that will power productDNA:hub (Photo: Alkemics) Alkemics is a French software platform that facilitates product data sharing between brands and retailers, allowing them to collect and enrich their product data. After a selection phase that included the testing of 25 international solution providers, Alkemics was chosen by the group of leading UK retailers and suppliers to power the collection, standardisation, and sharing of product data among manufacturers, brands, and retailers in the UK. Starting in the spring of 2018, several leading British retailers and brands will use the Alkem

Astrata Launches VanLinc™, for Intelligent LCV Fleet Management22.1.2018 07:45Pressemelding

After more than 25 years developing high-end telematics software for the HGV industry globally, Astrata is now bringing its expertise to benefit the European LCV market with the launch of VanLinc™. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180121005105/en/ VanLinc Main Visual (Photo: Business Wire) This easy-to-use, comprehensive fleet management solution provides real-time insights on drivers, vehicles and other assets, helping businesses drive productivity and increase capacity for work. Unlike other products, it seamlessly integrates with other business systems for joined-up working and improved efficiencies. Businesses with services reliant on vehicles now have the ability to maximise operational efficiencies due to one solution communicating with all other business systems. The VanLinc solution also effortlessly integrates with refrigeration systems to maintain constant temperature control during transport. The LCV

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom