FedEx's European shipping unit TNT has not been able to regain full functionality of its IT systems after the global cyberattack in June, Bloomberg reports.
The worldwide attack — reportedly spread by a malware variant called "Petya" — infected computer systems in more than 60 countries June 27.
Here are four things to know about Petya's impact on TNT.
1. FedEx purchased the Dutch shipping company TNT Express last year for $4.8 billion to expand its delivery services in Europe.
2. TNT facilities are functional, however, the unit continues to complete some transactions by hand, according to a July 17 FedEx statement.
"We cannot yet estimate how long it will take to restore the systems that were impacted [by the cyberattack], 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," FedEx said.
3. FedEx said the attack did not disrupt its systems or lead to material costs. However, the company's shares fell after customers experienced "widespread service and invoicing delays," according to Bloomberg.
"The biggest risk to FedEx is potential loss of market share," Kevin Sterling, a senior analyst at investment banking firm Seaport Global Holdings, told Bloomberg. "Customers like to track things, and they may not be able to."
4. Another financial concern relates to cyber insurance. FedEx did not have insurance that covered the Petya attack, according to Bloomberg, and has yet to determine the financial impact of the attack. The company will continue to evaluate lost revenue and related costs.