McDonald’s in Ukraine suffers millions in losses in past year
McDonald's in Ukraine suffered losses at the end of the year (Photo:Press service of McDonald's)
McDonald's, the largest fast food chain in Ukraine, suffered over UAH 2 billion ($54 million) in losses over the past year, according to its 2022 financial report.
McDonald’s closed all of its stores following Russia’s full-scale invasion of Ukraine in Feb. 2022, not beginning a phased re-opening until Sept. 20, 2022.
The result hit the famous fast food chain harder than COVID.
Company revenue for 2022 was UAH 3.2 billion ($86.7 million), less than half of the COVID-affected 2020 revenue of UAH 7.8 billion ($211.2 million). The company still made UAH 714.9 million ($19.4 million) that year.
Before Russia’s full-scale war, McDonald’s had 109 restaurants in 24 cities across Ukraine, including one of the world’s busiest, across from Kyiv’s main railway station. The 73rd location reopened in March this year.
We’re bringing the voice of Ukraine to the world. Support us with a one-time donation, or become a Patron!
Follow us on Twitter, Facebook and Google News
