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13/11/2019

Z opens first Habitual Fix on a highway site

Z Energy has opened the first ever Habitual Fix on a highway to give commuters and holiday makers a healthy option at the popular Bombay stop-over south of Auckland. 

Habitual Fix opened on 13 November in the new Z Bombay service station at the Bombay Motorway Service Centre. It’s a first for Z and for the New Zealand healthy food franchise, which until now has been available only in urban environments.

Z’s GM Retail, Andy Baird, says people driving through one of Auckland’s busiest commuter and traveller stopovers at Bombay deserve a healthier option. 

The upwards of 40,000 vehicles driving north and south on this stretch of motorway every day will now have a choice to get fresh, healthy food quickly instead of the traditional fast-food highway options on offer nearby, says Andy.  

“Anyone whose been stuck in Auckland traffic knows you don’t get free of it until you’re over the Bombay Hills. With the new Habitual Fix and Z on the southern side of the road, Aucklanders can get to the end of the motorway, take a breather knowing they’re passed the traffic, refresh and get on their way home, or off on holiday. 

Habitual Fix at Z

Habitual Fix counter at Z

Andy says service stations are known for sugary snacks and limited fresh options, while the Kiwi Habitual Fix with its fresh salads, sandwiches and smoothies,hasn’t been easily accessible for those on the road. 

We’ve heard New Zealanders say for a long time they want healthy choices on the go,meanwhile demand for quick options in stopovers like Bombay is unabating. People shouldn’t have to choose between fast and healthy, so we’ve paired up with Habitual Fix to offer a solution in this busy spot. 

Z Bombay, which opens this week,is the first of Z’s new-look stores on a highway where customers will also have access to ZEspress barista coffee, a picnic area, a New Zealand Post depot, and forecourt service from 10am-5pm. The site will employ 15 people. 

Z Bombay is a bus stop for Intercity buses as well as a hub for those traveling to the rapidly growing Waikato town of Pokeno. 

Fresh, healthy choices when you’re on the road are hard to find and that’s not cool for our health as a nation. Now atZ Bombay when people fuel up their vehicles for their journeys, they can fuel their bodies with healthy food too.” 

“We’ve opened in time for summer at the gateway to Hamilton, Bay of Plenty and the Coromandel so that Habitual Fix is available for the tens of thousands of holiday makers heading in and out of Auckland on roadies this summer,” says Andy.  

Z Bombay and its Habitual Fix is a trial as Z experiments with ways to make its retail stores better for customers.If Habitual Fix proves to be a popular alternative to the fast food nearby, Z will look to roll out more Habitual Fixes in other convenient commuter locations. 

30/10/2019

Sharetank gives Kiwis control to pre-purchase fuel on their terms

For the first time in New Zealand people can now use a virtual fuel tank to buy fuel in advance, putting more control in the hands of consumers to choose when they buy fuel and at what price. No longer are consumers constrained by the size of their tank.

Z Energy has co-created the virtual fuel tank, named Sharetank, with customers and frontline staff and is trialling it from today through Z App.  

People can use Sharetank to pre-purchase Z fuel, rather than waiting for their tank to be empty. They can then use their virtual Sharetank litres later, to fill up at any Z service station.

Z’s Chief Innovation Officer, Scott K Bishop, says until now Kiwis have largely had to accept the current price of fuel and were limited to when they could buy it by the room in their tank.

“We know customers get frustrated when they fill up and the next day their local service station’s fuel price drops because of changes in the exchange rate, costs or local competition. Sharetank lets customers choose to buy fuel when the price is right for them. It’s great for budgeting.”

“Sharetank really is a win-win for our customers. If the pump price goes up after they’ve bought Sharetank litres, customers save as they’ve already locked in cheaper litres. If it goes down, customers will be alerted when they go to fill up and can choose to save their Sharetank litres for another day,” Scott says.

Z’s Chief Customer Officer, Jane Anthony, says using a virtual tank also saves time for people who drive across town to get a better price.

“Customers’ time is precious so when they pre-buy through Sharetank they’ll automatically get the lowest Z pump price within 30 kilometres of their location and won’t need to travel to get it. They can buy from the couch, work, the passenger seat or wherever suits them.”

Customers can top-up their tank with up to 1,000 litres of each of their chosen fuel types (Z Diesel, Z91 Unleaded or ZX95 Premium Unleaded), store it virtually until it’s needed, and choose to share access to their tank with up to 5 friends, whānau, people in the community or employees.

“In the past there hasn’t been an easy way to share fuel. With Sharetank you could bring family home for the holidays, send the kids off to Uni, pay for your apprentice’s fuel, share sports team travel costs or split fuel costs between flatmates who share a car, to name a few,” Jane says.

Z will use the trial to evolve and improve the Sharetank offering based on customer feedback following launch. Learn more at: https://www.sharetank.co.nz.

 

24/09/2019

Customer demand for fresh food sees Z launch first Habitual Fix

First Habitual Fix at Z makes healthy eating an easier option for Kiwis on the go

 

Service stations are typically known for packaged snacks and limited fresh food options but Z is flipping the typical service station model on its head with the launch of its first in-store Habitual Fix to make finding fresh food easier for those on the go.

The Kiwi energy company’s first Habitual Fix is opening at Z Royal Oak service station on Mt Albert Road on Tuesday 24 September, offering a full menu of healthy, fresh food made in front of customers.

Z’s General Manager of Retail, Andy Baird, says there’s a big gap in New Zealand for fresh, healthier food that is available quickly, especially outside main shopping areas and malls.

“Fresh, healthy choices for people who are in transit are still really hard to find in New Zealand. We want to start changing that by offering fresh food at our convenient locations.”

“Customers have been clear they want fresher and better food at service stations. We hunted for a way to provide it and it made sense to pair up with a proven New Zealand owned brand that offers fresh quality food,” says Andy.

Z will trial Habitual Fix at Royal Oak and, if it proves to be something customers want, the company will look to roll it out to other Z service stations.

“With the boom of no-frills unmanned stations by other brands we’re doing something different that gives communities somewhere to go for fast, fresh healthy food in convenient locations.”

“Some service stations offer so-called fresh options, but no one is offering up anything this good, fresh and made in-store. Habitual Fix has crafted their quality products with New Zealanders in mind, rather than a global fast-food offer put into this market,” says Andy.

With more than 190 Z service stations around New Zealand Z has the perfect network for rolling out Habitual Fix and make fresh food more accessible to people with busy lives.

Z has always said it’s focus is on offering more than just fuel, and this is a new way it will be seeking to add extra value to its customers by making it easier to choose fresh, healthy food.

“We have masses of pie lovers and we stand by our pies but we know that people like variety and are looking for healthier options. Just because you have a busy life doesn’t mean you should have limited food options,” says Andy.

Like all existing Habitual Fix locations fruits and vegetables will be delivered fresh into store and meats will be of the highest deli grade and sourced locally where possible.

20/08/2019

Z looks forward to working with Commerce Commission on positive consumer outcomes

Z Energy welcomes the Commerce Commission’s draft report on competition in the fuel retail market.

Z’s Chief Executive, Mike Bennetts, says Z has and will continue to participate fully with the Commission and supports the intent and process of the market study.

“We understand how important it is for New Zealanders to be assured that they’re getting a fair deal for fuel and we agree with the Commission on a number of points,” says Mike.

“We agree with the Commission that terminal arrangements require updating, something we have advocated for quite some time.”

“Z is focused on the future of the industry and we look forward to working with the Commission on a model that’s fit for purpose today and tomorrow, and results in the best possible outcome for New Zealand.”

Mike says Z also agrees with the Commission’s sentiment in the draft report that loyalty schemes should act in the best interest of consumers.

“We’ve made it a business priority to ensure that our loyalty programme, Pumped, is simple and easy to access. There’s no minimum spend to get an everyday fuel discount with Pumped and anyone can access it. Three million Kiwis are signed up to Airpoints and 2.8 million are part of Fly Buys.

Profitability

As the study progresses, Z looks forward to understanding more about the methodology and data used by the Commission to assess profitability.

“Given the level of investment we make and the risks Z incurs across our operations we don’t believe our returns are unreasonable,” says Mike.

“Our profit has a purpose – we invest in New Zealand. We’re a Kiwi company. We’re based here and we’re absolutely committed to Kiwis. 50 percent of our shareholders are based here in New Zealand, either through KiwiSaver funds or through the approximately 8,000 Mum and Dad shareholders throughout the country. There are over 2,000 people employed across our network and we invest in their development and their well-being at work. We invest in local communities through programs like Good in The Hood and we’re also investing in the energy transition, including at our self-funded bio-diesel plant."

Wholesale market

The draft report discusses the nature of wholesale agreements that Z, BP and Mobil have with ‘third party distributors’. Specifically, the Commission is focussing on the terms of these contracts, and the ways in which these could impact pump prices.

“It’s our position that Z’s wholesale agreements are already negotiated robustly and terms have landed in a place that represents value to both parties. It's worth noting that distributors do have an ability to compete in the retail fuel market, as evidenced by the well-documented number of competitors entering new regions of New Zealand in recent times”, says Mike.

Consumer choice

“Kiwis have a lot of choice when it comes to the type of service they’re after, with more than 1500 service stations throughout the country. Around thirty eight percent in the North Island and around 53 percent in the South Island are branded something other than Caltex, Z, BP or Mobil.  People can vote with their feet painlessly – unlike in banking or electricity retail, there are very few barriers to switching service stations.”

 Z looks forward to submitting during the consultation process on 13 September.

ENDS

Media enquiries

Victoria Crockford – Victoria.crockford@z.co.nz, +64 21347833

Investor enquiries

Matt Hardwick – matt.hardwick@z.co.nz, +64 277874688

 

 

Z Energy unites fuel network for business customers

26/07/2019

Z Energy unites fuel network for business customers

Z makes fuelling up simpler & more productive for small business customers with new combined network & fuel card. 

New Zealand’s largest transport energy company, Z Energy Ltd, has launched a new flag-ship business fuel card offer, Z Business Plus, that gives small and medium-sized businesses access to one of the country’s biggest fuel networks. 
 
Z has combined the Z, Caltex and Challenge networks with Z Business Plus so customers can now access more than 550 Z, Caltex and Challenge service stations and truck stops with a single account and one fuel card.  
 
Z’s General Manager of Commercial, Nicolas Williams, says Z asked small and medium Kiwi businesses what mattered most to them and used the findings to design Z Business Plus to meet their needs. 
 
In New Zealand there are around 150,000 small and medium-sized enterprises (SMEs) employing between one and 50 people. It was important to Z that we created a product designed specifically for these businesses and the 400,000 or so self-employed people around the country,” says Nicolas. 
 
Nicolas says SMEs are consistently seeking ways to improve productivity by freeing up time spent on low value activity, like refuelling their vehicles.  
 
We’ve combined our networks so that drivers have more sites to choose from and won’t need to take as many detours to fuel up. This means Z Business Plus offers a simple, convenient and fast way of keeping SME vehicles on the move around New Zealand. 
 
“The scale of our new combined network will help business owners save time, fuel and money. It will also help reduce the distance driven and time behind the wheel – improving driver productivity and safety,” says Nicolas. 
 
Nicolas says Z’s ongoing market research has consistently heard SMEs want to be rewarded for loyalty to their suppliers. 
 
“To ensure Z is recognising business customers for choosing us, Z Business Plus gives them 8 cents per litre fuel discount at any Z, Caltex or Challenge site, as well as the chance to earn Fly Buys or Airpoints on their accounts. 
 
Nicolas says Z Business Plus also reflects the need for payment flexibility. 
 
“Businesses owners have told us that cash-flow can be a challenge. That’s why we’ve added up to 40 days’ credit, and a choice of four invoice dates,” says Nicolas. 
 
More information on Z Business Plus can be found at https://business.z.co.nz/. Z is also launching a range of other fuel card offers under the new Z Business brand, to meet the needs of larger businesses, corporates and high fuel volume customers.    

                                                               

ENDS 

For more information or comment contact: Z Business Communications, Georgina Ball: 021 191 1433 or Georgina.ball@z.co.nz.

30/05/2019

From Giant Wind Turbines to Electric Planes - Michael Liebreich Public Lecture

In what’s been termed the “three-third world”, one third of global electricity in 2040 will be generated by wind and solar, one third of the vehicles on the road will be electric and the world’s economy will be one third more energy efficient.


But how do we transition to this future? What sort of policy settings will be required? And how will new initiatives like the Zero Carbon Bill help New Zealand’s contribution towards these goals?

International renewable energy and green finance expert Michael Liebreich will address these questions - and many more - in a public lecture at Victoria University of Wellington. He will then be joined by the University’s Chair in Sustainable Energy Systems Professor Alan Brent for a question-and-answer session.

This event is hosted by Victoria University of Wellington and sponsored by Z Energy. 

Click below for more details and to register for the event:

Victoria-University-Public-Lecture-with-Clean-Energy-Expert-Michael-Liebreich.pdf

 

 

 

14/03/2019

Z Energy, Contact Energy, Genesis Energy and Air New Zealand join forces in carbon afforestation partnership

Air New Zealand, Contact Energy, Genesis Energy and Z Energy have today announced the formation of Dryland Carbon LLP (Drylandcarbon), a limited liability partnership that will see the four companies invest in the establishment of a geographically diversified forest portfolio to sequester carbon.

Drylandcarbon will target the purchase and licensing of marginal land suited to afforestation to establish a forest portfolio predominantly comprising permanent forests, with some production forests. The primary objective is to produce a stable supply of forestry-generated NZU carbon credits, but the initiative will also expand New Zealand’s national forest estate. These credits will support the partners to meet their annual requirements under the New Zealand Emissions Trading Scheme.

Drylandcarbon will be managed by Lewis Tucker & Co who will provide management services throughout the life of the partnership. Air New Zealand, Contact Energy, Genesis Energy and Z Energy will not have day-to-day involvement in the running of the business.

Drylandcarbon CEO, Anthony (Ant) Beverley, says the partnership is a terrific example of Kiwi companies coming together for a greater good, and that climate change mitigation and commercial benefit are not mutually exclusive.

“The partnership intends making a serious contribution to the acceleration of afforestation and planting in New Zealand, at a time when carbon sequestration and climate change mitigation are becoming increasingly important to all of us. Drylandcarbon’s afforestation plans are closely aligned to a number of key Government objectives and will deliver a range of environmental and sustainable development benefits to our regions, while also delivering commercial benefit to the four partners over time.

“The portfolio will be initially established with high sequestration capacity exotic species, however,
the majority is expected to consist of permanent forests. The intention is to transition these permanent forests to native forests over the long term.

“Given the potential size of the portfolio, the partnership is well placed to make a real contribution to New Zealand’s broader emission reduction objectives. In targeting some of the more remote and difficult marginal land, Drylandcarbon also anticipates its activities can support improved environmental outcomes in areas needing land use change.”

Drylandcarbon is currently engaging with both farming and regional communities around the establishment of carbon forests on private land.

 

01/11/2018

High oil price, intense price competition and lower margins

Half year financial result and dividend

Z Energy (NZX: ZEL) today announced its earnings and net profit for the six months to 30 September 2018.

Z reports its earnings on an historic cost as well as replacement costs basis. Statutory financial statements are reported on an historic cost basis in accordance with NZ-GAAP, however replacement cost accounting is the globally-used non-GAAP industry standard to measure financial performance.[1]  

Replacement cost accounting is the financial measure that Z is valued at by the share market, that Z’s debt covenants are calculated on, that management is incentivised by, and that the Government track in their weekly margin monitoring.

Historical cost net profit after tax (HC NPAT) was $139m, up 74% from $80m in the prior corresponding period (PCP). This result was driven by the sharp increase in the underlying oil price over the period and the decline of the New Zealand dollar against the US dollar.

Z reported replacement cost earnings before interest, depreciation and amortisation (RC EBITDAF) of $175m, down 21% from $221m in the first half of last financial year.

Z’s replacement cost net profit after tax (RC NPAT) was $72m, down 31% from $105m in the PCP. Total marketing volume for the half year was 1,969 million litres, flat compared to the PCP. The above RC NPAT is equivalent to 3.7 cents per litre, down from 5.3 cents per litre in the first half of last financial year. Z’s RC fuel unit margin[2] of 15.5 cents per litre was down on the PCP of 17.0 cents per litre.

The Board of Z has declared a fully imputed interim dividend of 12.5 cents per share, up 20% from 10.4 cents per share compared to the PCP. The interim dividend will be paid on 11 December 2018.

Drivers of the result and of full year RC EBITDAF guidance

Commenting on the results, Z Chief Executive Mike Bennetts said that the operating environment for the first half of FY19 was the most challenging experienced in the eight and a half years of Z.

“During this period, US dollar crude prices increased by 25%, the NZD/USD exchange rate depreciated by 9%, and fuel taxes nationally and regionally increased. Combined, these factors have led to record high prices at the pump. These sustained high prices have resulted in a decrease in retail demand,” said Mike.

Competition has intensified in both the North and South Island, particularly on price, as customers seek out bargains in the high price environment.

“Margins typically come under pressure when crude prices rise steeply, as prices at the pump lag behind the increases in the price of crude oil, and customers are sensitive to new, higher price points,” said Mike.

In addition, results were negatively impacted by the extended refinery shutdown resulting in lost gross refining margin (GRM). The purchase of unplanned product imports to cover for the extended shutdown also had a negative impact on fuel margin.

“Given the volatility in crude prices and exchange rates, we are taking a cautious view on the second half of the financial year and reducing our full year RC EBITDAF guidance to $400 million to $435 million,” continued Mike.

Commerce Commission market study

Record high fuel prices, driven by high crude oil prices, the weaker exchange rate and additional tax, have once again thrust our industry and Z, into the political and media spotlight.

Mike acknowledged the impact that fuel prices have on customers, from households to businesses.  

“Because fuel has such a big impact on household budgets and many businesses, customers want to know that they are at least paying a fair price because the market is competitive.  We welcome a Commerce Commission market study as we believe that it is the most sensible and transparent way to give customers the assurance they need. It’s important to have an objective agency who can compel all industry participants to provide relevant data and have people with the skills and knowledge to interpret the data and investigate the market,” said Mike.

“Z cooperated fully with the MBIE led market study in 2017, and we will cooperate fully with any Commerce Commission market study. We will continue to point to the facts; our books are open and financial returns are not excessive given the complexity of the business and the capital employed, competition is intense and our returns are consistent with similar companies around the world,” said Mike.

Z’s strategy of optimising the asset base and boosting operating efficiency continues to pay off

Z has made considerable progress in continuing to deliver operating efficiencies throughout the business.

“Despite the difficult operating environment, we have continued to make progress on our strategy for a more productive core business,” said Mike.

“In the first half we delivered on our refinery optimisation strategy, we brought back in-house operational control of the remaining five fuel storage terminals (three were completed at the end of FY18) and simplified our bulk fuel distribution into a new long-term contract with a haulage partner.  These projects, plus others announced in our Strategy 3.0 program, are forecasted to contribute $16-18m of EBITDAF within the year.

On 1 September Z commenced fuel supply to the Foodstuffs Group, the co-operative for the New World and PAK’N SAVE stores.

Mike said that he was proud of the Z team for flawlessly executing a seamless transition.

“There are very few deals out there in the New Zealand market that represent such a structural shift in volumes. Z is now supplying approximately 150 million litres annually to the Foodstuffs Group supermarket service stations and is the redemption outlet for their fuel dockets.  This will grow Z’s supply chain volumes and further improve our economies of scale,” he said.

Investment in Flick Electric

On 1 September, Z invested $46m to acquire a 70% stake in Flick Electric. Flick is an electricity retailer and disruptor that allows its customers the choice between access to the spot price of the New Zealand wholesale electricity market or low fixed prices.

Commenting on the investment, Mike said that Flick fits into Z’s long-term view of the New Zealand energy market, providing access to the retail electricity market, access to a new form of energy and strong digital capability.

“Although Z’s ownership of Flick Electric is a majority, we intend for it to operate as a subsidiary company outside of Z’s operations, so that it can keep doing what it does best.  We will continue to support the Flick management team to grow the business towards EBITDAF profitability in FY21.”

Capital structure, debt reduction and returns to shareholders

Z remains committed to debt reduction and increasing returns to shareholders over the next decade. Z believes it is prudent to reduce its overall debt position and maintain a strong, investment-like grade balance sheet because of the uncertainty around the price of crude oil.

“At the end of last financial year, we had reduced our debt leverage, defined as debt to RC EBITDAF, to 2.1x. In the first half of FY19 debt to RC EBITDAF has increased to 2.4x through a combination of reduced earnings and the investment in Flick. Z remains committed to deleveraging to around 1.6x debt to RC EBITDAF by the end of FY21.

“This year sees the first implementation of our new dividend policy of ‘better with you than us’. While we acknowledge the current challenging trading conditions have reduced the size of the dividend from original guidance, the change in dividend policy reinforces our commitment to efficiently return cash to shareholders.

Second half outlook and priorities

Given the volatility of the global commodity markets and the recent movements of the New Zealand dollar, Z is not depending on a drop in crude prices or improving FX rates to support our second half performance.

Commenting on the priorities for the rest of the year, Mike said:

“Our focus for the next six months is simple, we must increase momentum by prioritising business as usual activities and projects that directly improve customer experience and we will focus our productivity work on fewer, higher value actions that create more meaningful bang for buck.”

A conference call for media and investors will be held at 10am on Thursday 1 November 2018. Dial in details can be found at https://investor-centre.z.co.nz/investor-centre/assets/Uploads/20181009-NZX-results-date-announcement.pdf

 

 


[1] Z prepares its statutory financial statements on an historic cost basis in accordance with NZIFRS. Earnings prepared on this basis are subject to volatility due to changes in oil prices and exchange rates and is therefore not a dependable measure of business performance or profitability. Replacement cost earnings do not reflect this volatility to such an extent as the cost of the stock sold is accounted for as its replacement cost at the time of its sale. Z’s management focuses on the industry standard replacement cost operating metrics, which it considers a better reflection of the underlying performance of the company.

 

[2] This is the margin on fuel sold before operating costs and corporate tax are accounted for.   

 

Reconciliation HC to RC

 

Investors:         Matt Hardwick             027 787 4688

Media:             Sheena Thomas           027 551 2589

08/10/2018

Z supports market study legislation

Z Energy is pleased to hear that the Government will expedite the passing of legislation to enable a fuel market study to occur sooner rather than later.

Z Chief Executive Mike Bennetts acknowledged that consumers feel hard hit by fuel prices and that they are seeking assurance. 

“Consumers are seeking assurance that prices are fair and the market is competitive and we believe that a Commerce Commission market study is the most sensible way forward. It’s important to have an objective agency who can compel data, with people who have the skills and knowledge to interpret that data and investigate the market fully,” said Mike. 

Z disputes that prices are unjustifiably high, and while margins have increased from an unsustainable level in 2008 which saw fuel majors exit New Zealand, it has not increased at the level suggested.

Current pump prices have been driven up by increasing crude oil costs, a weakening exchange rate and additional taxes, not Z’s profit margin.

“As a listed company, Z will release its half year financials in early November. We look forward to sharing an audited, exact view of our profits with the public then.

“Z believes the fuel market is highly competitive, but the way to satisfactorily demonstrate this and give consumers the confidence they need is to have the level of transparency that a market study can bring,” said Mike.

“Z cooperated fully with the MBIE led market study, and we will cooperate fully with the Commerce Commission,” said Mike.

 

 

Media contact: Sheena Thomas 027 551 2589

26/09/2018

Customer update on 2017 data breach issue

Z Energy is sharing the findings of a further investigation into the 2017 unauthorised access of the Z Card Online system with customers.

In November 2017, Z was contacted by an anonymous third party who alerted us to a vulnerability with Z Card Online, the online system used by Z Card customers to manage their fuel cards. When a fix was unsuccessful, Z disabled access to the system in December 2017 and worked with security experts to review the system and the security of customer data within in.

Z launched a new online system for customers to use in March 2018, which has been tested repeatedly to ensure customer data is as secure as it can be.

Z’s Chief Executive, Mike Bennetts, apologised for the 2017 security vulnerability, the inconvenience and any worry caused.

“We’re sorry for any concern caused by this issue, that we didn’t keep your data completely private like we are committed to, and the inconvenience of taking the platform offline for almost three months.

“We also acknowledge that some customers would have preferred to have had more information about the issue when we found out about it. Now that we have the findings from our further investigation into what exactly may have been accessed in the old system, we’re committed to fully sharing this information with customers and answering any questions customers may have,” said Mike.

Z has shared the information from this forensic analysis with its Z card customers by phone or email as part of a commitment to communicating clearly with customers about issues relating to their personal data.

Of approximately 30,000 Z Card customers, the investigation has identified that over the prior two-year period, there were 62 customers whose data was viewed by an unauthorised person prior to the site being taken offline in December 2017.                          

The investigation confirms that the type of data accessed was information such as first name, last name, address, email address, phone number, the Z outlets where card holders make purchases and the broad nature of those purchases.

Investigators found no evidence of unusual card activity including ordering cards or amending card orders, and it was not possible for the person who illegally accessed the data to view any payment information such as bank details.

All of the 62 customers have been contacted in person by Z.

Z has taken steps to ensure security of customer data across all its online customer facing systems.

“Like all organisations using online channels to improve the customer experience, we face an ever-changing landscape of cyber-security threats. However, we have learned from this experience and we’re confident that our cyber-security risks are well managed.

“We are committed to protecting the privacy and security of the information customers entrust us with,” said Mike.

If you are a Z card customer, and have not received any communications from Z recently, please contact Z on 0800 474 355.

 

Media contact: Sheena Thomas 027 551 2589

 

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