Cyberattacks shake the stock market: Huge economic consequences

A new global study documents the severe financial impact of cyberattacks on large companies.

70 percent of publicly listed companies that have suffered serious cybersecurity breaches have had to adjust their financial expectations.

This is according to a study conducted by research firm Vanson Bourne for data protection company Cohesity.

68 percent have also experienced a direct negative impact on their share price in the aftermath of an attack.

This is according to the report “Risk-Ready or Risk-Exposed: The Cyber Resilience Divide”.

The trend is less pronounced among German companies surveyed.

Here, 52 percent of listed companies have had to change their forecasts, while 45 percent have seen negative share price movements.

In Denmark, no specific figures were provided, but the results from Germany are among the lowest in the survey.

54% of respondents in Germany believe their cyber resilience strategy has room for improvement. The same picture is seen globally.

High losses, ransom and legal consequences

The attacks don’t just affect stock prices and financial statements.

31 percent of German companies report that they have lost between one and ten percent of annual revenue as a result of cyberattacks.

At the same time, 89% have been affected by legal repercussions such as fines or lawsuits.

Over 80 percent of companies in both Germany and the rest of the world report that they have paid ransoms in connection with ransomware attacks in the past year.

For more than a third, the payment amounted to over 150.000 dollars.

A key difference is seen in the automation of threat response.

Globally, 44% of attacks are detected and verified automatically.

In Germany, it’s only 35 percent. Here, the majority still use manual processes, which increases response time.

At the same time, artificial intelligence is seen as part of the solution. 41% of German participants expect AI to play a central role in their cybersecurity strategy by 2026.

The global average is 37 percent.

German caution as a strength

The survey also shows that German technological caution can be an advantage.

Only 29% of German companies feel that GenAI tools are being adopted faster than security can keep up.

Globally, the figure is 37 percent.

This means more German companies are avoiding implementing immature systems with weak security.