(ANSA) – MILAN, MAY 16 – McDonald’s leaves Russia with the complete sale of its assets to a local buyer following the invasion of Ukraine by Moscow. Bloomberg reports it. Locals will no longer use the McDonald’s name, logo, brand name.
McDonald’s expects to post a non-monetary charge of approximately $ 1.2-1.5 million to write off net investments in Russia upon exiting Russia.
The company has updated the guidance for 2022 which foresees the operating margin in the order of 40%. Excluding the closure of all restaurants in Russia, the net expansion of the catering units is expected to contribute approximately 1.5% to the growth in sales of the entire system in 2022.
McDonald’s expects over 1,300 new restaurants in 2022.
Investments (Capex) of approximately $ 2.1-2.3 billion. Restaurants in Ukraine remain closed and staff will receive full salaries. (HANDLE).
Source: Ansa
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