(Yicai) Feb. 11 -- McDonald's plans to open 2,200 new restaurants worldwide this year, including around 1,000 in China, following lower-than-expected results last year.

The American fast-food chain reported revenue of USD25.9 billion last year, a 2 percent increase from 2023, while net profit declined 3 percent to USD8.2 billion, according to the Chicago-headquartered company's earnings report released yesterday.

The KFC competitor expects to have 50,000 McDonald's restaurants worldwide by 2027, representing a 15 percent increase from the end of last year. Last year's annual growth rate was 4 percent.

Chief Financial Officer Ian Borden stated that despite ongoing inflationary pressures and limited pricing power, McDonald's is confident about increasing profits this year. Specifically, the company aims to achieve a full-year operating margin exceeding the 46.3 percent adjusted operating margin recorded in 2024.

"Our performance in 2024 did not meet our expectations," Chairman and Chief Executive Chris Kempczinski said during a conference call. However, he added that the coming quarters should show signs of recovery.

In the fourth quarter of 2024, both revenue and net profit declined. Revenue decreased by 0.3 percent year-over-year to USD6.4 billion, while net profit fell 1 percent to USD2 billion. During the quarter, McDonald's global same-store sales grew by 0.4 percent, while the US market experienced a 1 percent decline. The strongest growth was seen in the international developmental licensed markets, including China, Indonesia, Saudi Arabia, and Brazil, which achieved a 4 percent increase.

At the earnings conference, CFO Borden attributed the sales growth in the IDL markets primarily to positive results in the Middle East and Japan. He added that the food chain is observing encouraging signs of stabilization in China.

China remains a strategically important market for McDonald's, which is accelerating its new store openings and developing more cost-effective products. Last December, McDonald's hosted its first "Fans Conference" in Shenzhen, where it introduced the McValue meal, reflecting young consumers' growing preference for cost-effective options. The company plans to launch four signature value initiatives this year, including the Buy One, Add One offer and Big Bite Meals.

Editor: Emmi Laine