After operating in Russia for more than 30 years, McDonald's said it would withdraw from the market and write off $1.2-1.4 billion. McDonald's said in a statement on Monday that it had started the process of selling its Russian business; The local stores were temporarily closed earlier The company said that the humanitarian crisis and unpredictable operating environment in Ukraine under the war meant that operating in Russia was no longer feasible and did not conform to McDonald's values
It is understood that in March this year, McDonald's has closed all its restaurants in Russia, including its flagship store in Pushkin square.
McDonald's said that as part of its exit plan, the company expected to generate a non cash expenditure of about $1.2-1.4 billion. Under the influence of this expenditure, it is estimated that the operating profit margin in 2022 will be about 40%, and the adjusted operating profit margin will be about 45%; It is estimated that the annual capital expenditure in 2022 will be between us $2.1 billion and US $2.3 billion.
In 1990, McDonald's opened its first store in Russia shortly before the collapse of the Soviet Union. The company's share price rose 1% before trading.
