"McDonald's is perfect positioned to capitalize on this opportunity," said Jim Skinner, CEO. The company will spend about $1.9 billion in capital expenditures, including $700 million on opening new units.
The company will expand its drive-thrus, expanding in Europe and opening 50 new units in China. The company also will continue its plan to boost its licensed units, with a goal of owning less than 30% of its restaurants in markets where laws are conducive franchising, added Matthew H. Paull, senior executive VP and CFO.
For the fourth quarter, the company reported sales of $5.6 billion, up 11% (7% in constant currencies) compared with the previous year. Net income was $1.2 billion. Comparable-unit sales rose 6.3%.
For the year, the chain posted record revenues of $21.6 billion, up 9% (7% in constant currencies) from 2006, and recording net income of $3.5 billion, up 11% from the previous year. During the year, the company disposed of its investment in Chipotle Mexican Grill, boosting earnings. Global comparable sales rose 5.7%
"I'm pleased to report that 2006 was an outstanding year for McDonald's," Skinner says. McDonald's operates more than 30,000 local restaurants in more than 119 countries.
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