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MCDONALD'S CORPORATION

(MCD)
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Delayed Nyse  -  04:00 2022-10-04 pm EDT
238.50 USD   +1.34%
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McDonald : Announces Update on Operations in Ukraine➝

08/12/2022 | 08:25am EDT

*This message was originally sent by Paul Pomroy to the McDonald's System*

On February 24, we shared with the System that we would be pausing our restaurant operations in Ukraine as a result of the ongoing war within the country.

Since that time, all three legs of the stool have mobilized to provide financial and humanitarian aid to our McFamily and those in need. Together, we established an employee assistance fund to support our people and helped fund the relief efforts of Ronald McDonald House Charities, which has served children and families by deploying medical supplies to hospitals and areas in need. The Company has continued to pay the salaries of more than 10,000 employees, while countless members of the System opened their hearts, homes and restaurants to those seeking refuge.

While the hardship has been unspeakable, it has also been a testament to what Chris K. shared at Worldwide Convention earlier this year - when times are at their darkest, the Golden Arches shine brightest. The commitment across the entire System to feed and foster our communities - whether they be down the road or around the world - is something for which we can all be proud.

As we look forward, supporting our people in Ukraine continues to be our number one priority. We've spoken extensively to our employees who have expressed a strong desire to return to work and see our restaurants in Ukraine reopen, where it is safe and responsible to do so. In recent months, the belief that this would support a small but important sense of normalcy has grown stronger. And Ukrainian officials have advised that businesses resuming operations will support the local economy and the Ukrainian people.

As we think about sustaining our employees and business in the long-term, we've reflected on whether we should reopen restaurants in Ukraine using five fundamental questions that Chris laid out to guide our thinking on operations in a market: Are we legally allowed to operate in the country? Do we have the freedom to operate the business and meet the needs of our customers and crew unimpeded? Is our presence in the market brand-enhancing to our global operations? Does it make good business sense? Does it align with our values?

After extensive consultation and discussion with Ukrainian officials, suppliers, and security specialists, and in consideration of our employees' request to return to work, we have decided to institute a phased plan to reopen some restaurants in Kyiv and western Ukraine, where other businesses have safely reopened. Over the next few months, we will begin working with suppliers to get product to restaurants, making the physical properties ready to serve customers, bringing restaurant teams and employees back on site, and implementing enhanced procedures and protocols to support the safety of our people and customers.

These efforts are being driven by the Ukrainian market team, led by Yuliya Badritdinova, who have exemplified each of our values at every turn. I want to thank them for all they have done.

As we prepare to serve our Ukrainian customers again, we will be guided by our values and our purpose to feed and foster the communities we serve. Thank you for your support.

Disclaimer

McDonald's Corporation published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 12:24:01 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 22 798 M - -
Net income 2022 5 978 M - -
Net Debt 2022 33 142 M - -
P/E ratio 2022 29,6x
Yield 2022 2,34%
Capitalization 175 B 175 B -
EV / Sales 2022 9,15x
EV / Sales 2023 8,84x
Nbr of Employees 100 000
Free-Float 44,2%
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Mean consensus BUY
Number of Analysts 38
Last Close Price 238,50 $
Average target price 281,44 $
Spread / Average Target 18,0%
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Managers and Directors
Christopher J. Kempczinski President, Chief Executive Officer & Director
Ian Borden Chief Financial Officer & Executive Vice President
Enrique Hernandez Director
Brian S. Rice Global Chief Information Officer & Executive VP
Robert A. Eckert Independent Director
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