(CercleFinance.com) – After temporarily closing its restaurants in Russia on March 8, McDonalds announces its decision to leave Russia, which will result in an accounting charge – essentially without cash outflow – of around 1.2 at $1.4 billion.
The American brand will therefore begin the process of selling its entire portfolio of points of sale to a local player, while ensuring that all its employees in the country will continue to be paid until the finalization of any transaction.
In terms of outlook, the fast-food chain says it expects full-year 2022 adjusted operating margin in the mid-40% range, excluding impairments and other strategic charges.
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