Norsk Hydro cyber attack could cost up to $75m
.jpg)
March 2019 ransomware attack could cost Norwegian aluminium giant up to $75m in the first half of the year, according to latest estimates
The financial impact of Norsk Hydro’s ransomware attack is estimated at $28.8m-$34.6m for the second quarter, according to the company’s latest financial report.
Once again, the largest impact is expected in the company’s Extruded Solutions division, accounting for $17.3m-$23m of the estimated overall impact for the quarter.
In the financial report for the first quarter, the company put the impact at $34.6m-$40.4m, which means the impact in the first six months of the year could reach $75m.
The estimated impact for the second quarter is 20-25% higher than expected, with initial estimates putting the cost for the second quarter at $23m-$28.8m, according to Reuters.
Norsk Hydro is expecting some compensation from its cyber insurance policy, but it has so far not given any details of how much that is likely to be or when it is expected to be paid.
The company ascribed a 32% fall in earnings to $101m for the second quarter compared with the same period a year ago in part to the impact of the LockerGoga ransomware attack, but other factors include a partial shutdown of its Alunorte plant in Brazil and the ongoing trade war between China and the US.
The Norsk Hydro financial report coincides with an IBM Security report, which shows the cost of a data breach has risen by 12% over the past five years to £3.2m ($3.92m) on average globally, with a 10.56% increase in the UK in the past year alone to £2.99m on average.
Security firm Trend Micro recommends that organisations follow best practices to minimise the impact of ransomware such as LockerGoga, including:
- Making regular backups of files.
- Keeping systems and applications updated and using virtual patching for legacy or unpatchable systems and software.
- Enforcing the principle of least privilege and securing system administrations tools that attackers could abuse.
- Implementing network segmentation and data categorisation to minimise further exposure of mission-critical and sensitive data.
- Disabling third-party or outdated components that could be used as entry points.
- Securing email gateways to block threats distributed by spam and avoid opening suspicious emails.
- Implementing defence in depth with additional layers of security such as application control and behaviour monitoring to help block unwanted modifications to the system or execution of anomalous files.
- Fostering a culture of security in the workplace.

Latest Jobs
-
- Senior Presales Consultant | Managed Security Services | London
- London
- N/A
-
Senior Presales Consultant – Managed Security Services Location: London-commutable (Hybrid) A well-established cyber consultancy is seeking a Senior Presales Consultant to drive growth across its managed security services / advisory portfolio. This hybrid role bridges commercial and technical expertise supporting solution design, shaping customer proposals, and guiding conversations from scoping through to delivery. Key experience: Background in managed security services, including SOC operations and threat detection Strong knowledge of cloud and on-prem security tooling (SIEM, EDR, IAM) Penetration testing Proven ability to translate technical concepts into clear business value Confident in customer-facing engagements and pre-sales delivery Experience contributing to bids, proposals, and RFI/RFP responses To find out more contact me on 07884666351 Visa sponsorship is unfortunately not available for this role.
-
- Senior SOC Engineer - Microsoft | Splunk. Permanent. London
- London
- N/A
-
Senior SOC Engineer – Hybrid London Type: Full-Time A well-established cyber security provider is seeking a Senior SOC Engineer to strengthen its managed services function. This role is ideal for someone with a strong operational background in SIEM and EDR tools who can confidently lead customer onboarding, fine-tune detection strategies, and act as a senior point of contact for technical escalations. You will need to be SC clearable. Bonus points if you have SC clearance currently. You will be responsible for ensuring smooth integration of new clients into the service, optimising alerting capabilities and delivering meaningful outcomes during investigations. This is a hands-on position, working closely with internal teams and external stakeholders to maintain robust security operations across multiple environments. Prior experience in a cyber-focused MSP or MSSP Strong hands-on capability with platforms such as Microsoft Sentinel, Defender for Endpoint, or similar Proficiency in scripting and query languages such as KQL or PowerShell Knowledge of detection logic, investigation workflows, and cloud-based infrastructure Confident communicator with strong documentation and reporting skills Apply today for more information.