Jaguar Land Rover (JLR) has reported a pre-tax loss of £485 million for the three months to 30 September, a sharp reversal from the £398 million profit recorded in the same period last year. The loss was driven by a cyber-attack that forced the closure of its factories throughout September, ending 11 consecutive quarters of profit.
The carmaker incurred £196 million in exceptional direct costs to address the hack, including hiring global IT experts to restore systems. Production has now returned to normal levels, with all plants at or approaching capacity after a phased restart in October. However, the total financial impact is yet to be fully quantified.
The cyber-attack is estimated to have cost the wider UK economy up to £1.9 billion and was cited by the government as a factor in dragging quarterly GDP growth to 0.1%. JLR also cited the impact of US tariffs, which briefly paused exports, and the winding down of older Jaguar models as contributing factors.
Outgoing CEO Adrian Mardell praised the company's recovery efforts, stating: 'JLR has made strong progress in recovering its operations safely and at pace after the cyber incident.' He confirmed that production of all luxury brands has resumed, and noted that over 150 prototypes of the new electric Jaguar have been completed.
CFO Richard Molyneux declined to provide a single figure for the hack's financial impact, noting that some lost sales may be recovered. He said the investigation into the incident remains live, with the company cooperating with law enforcement. JLR has drawn down £500 million from a separate £2 billion bank facility but has not used a £1.5 billion government-backed loan guarantee.
