Ozan, the company's CFO, said that Russian had previously represented roughly 2% of system-wide sales, 7% of revenues, and 2% of operating income. Based on its annual report, this would have been around $2.2 billion in total sales across both franchised and company-owned restaurants, $1.6 billion in revenues, and $207 million in operating income in 2021.
McDonald's said it incurred about $1.2 billion of charges related to its exit from Russia. Overall the chain reported a 3% drop in revenues and a 36% drop in net income in the quarter to June 30 compared to the same period in 2021. McDonald's attributed this to the closure of its Russian and Ukrainian restaurants, as well as rising labour, packaging, and ingredients costs.
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