Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

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Vika Azkiya Dihni 10/03/2022 18:10 WIB

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McDonald's estimates its closure in Russia will cost the company approximately US$50 million per month.

McDonald's Global Net Income (Q1-Q4 2021)

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Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

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McDonald's Global Net Income (Q1-Q4 2021)

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The American fast-food company McDonald's announced on Tuesday (March 8) that it would temporarily close all of its restaurants in Russia.

This closure is a protest against Russia's invasion of Ukraine.

McDonald's operates approximately 850 restaurants in Russia, most of which are company-owned. The closure will affect approximately 62,000 McDonald's employees in Russia.

However, the company stated that it will continue to pay all its employees during the operational pause, as well as rent and other necessary expenses.

McDonald's estimates this policy will cost the company approximately US$50 million per month until its restaurants reopen at an unspecified time.

This will also negatively impact McDonald's net income in 2022. Even before the closure in Russia, McDonald's net income had been declining throughout 2021.

While net income increased from the first to the second quarter of 2021, it subsequently declined in later quarters, reaching US$1.64 billion in the fourth quarter of 2021.

In addition to suspending operations in Russia, McDonald's has also temporarily closed 108 restaurants in Ukraine. Russia and Ukraine together account for approximately 9% of McDonald's total revenue and 3% of its operating income.

(See also: 61% of Russia's Foreign Exchange Reserves Frozen Due to Global Sanctions)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

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Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

Before Closing Stores in Russia, McDonald's Achieved a Net Profit of US$1.6 Billion

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