The world’s largest liquefied natural gas trader will write down up to $5 billion following its decision to exit Russia, above the $3.4 billion previously disclosed, the company said on April 7. The Austrian energy group said on April 8 it would take a 2 billion euro hit in the first quarter from its pullback from Russia, split evenly between its connection with the Nord Stream 2 pipeline project and adjustments to the consolidation method of two Russian entities. The company’s first quarter results included a $3.4 billion after-tax hit on its Russia Sakhalin-1 operation. Exxon Mobil’s Russian oil and gas operations were valued at more than $4 billion. The oil giant’s decision to leave Russia and discontinue oil and gas operations will hit earnings and oil production by between 1% and 2%, the company’s CFO said. Russia generated revenue of more than $1.8 billion last year, around 6% of its global sales Philip Morris’ Q1 earnings fell 3.6% to $2.32 billion, or $1.50 per share, including the 3-cent charge. The tobacco giant took a charge of 3 cents per share related to the Ukraine crisis in Q1, after discontinuing sales of a number of Marlboro and Parliament cigarette products in Russia. The maker of Persil washing detergents and Pritt glue announced in mid-April it would exit Russia, adding on Friday it is also exiting Belarus.
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The German chemical and consumer goods company said in its quarterly report it foresees an impact of 1 billion euros on its full year sales related to the current geopolitical situation. The company generated around 2% of its total sales in the country last year, amounting to 2.8 billion crowns ($295 million). UBS had also cut its exposure in Russia to $400 million at the end of March, from $600 million.ĮSSITY The Swedish hygiene products group said it would record a write-down of 1.4 billion crowns ($147.66 million) after it shut down all production and sales in Russia in March. UBS The Swiss bank said on April 26 that Russia’s invasion of Ukraine had a cost of about $100 million. The amount comprises a 2 billion-euro hit on Rosbank’s book value and the rest is linked to the reversal of rouble conversion reserves. SOCIETE GENERALE The French bank said it would quit Russia and write off 3.1 billion euros ($3.35 billion) from selling its Rosbank unit to Interros Capital. banks added $1.9 billion to its reserves in the first quarter to prepare for losses from direct exposures in Russia and the economic impact of the Ukraine crisis.ĬREDIT SUISSE The Swiss bank estimated on April 20 the impact of the Russian invasion of Ukraine will cost it 200 million Swiss francs ($209 million) in Q1 2022. Citi said it had reduced its total exposure to Russia since December 2021 by $2.0 billion to $7.8 billion. bank said in connection with its quarterly report it sees a loss of up to $3.0 billion from its exposures in Russia in a severely adverse scenario. The Swedish truckmaker said on April 8 it had set aside provisions worth $423 million after suspending activities in Russia that amounted to 3% of group sales.ĬITIGROUP The U.S. Lost sales accounted for 166 million euros of revenue loss in Q1, although Russia remained the company’s second-largest market after France. RENAULT Renault said in March it considered a 2.2 billion-euro ($2.38 billion) non-cash writedown to reflect the potential costs of suspending operations in Russia. TJX said it might need to record an impairment due to the divestiture if the fair value of the Familia investment declines below its carrying value on the balance sheet. The stake was valued at $186 million at the end of January, lower than the $225 million TJX paid for it in 2019. TJX U.S.-based fashion retailer TJX said it would sell its 25% stake in the Russian low-cost apparel shop chain Familia. LPP sees the suspension of business in Ukraine and closing stores in Russia costing 25% of revenue. In 2021/2022, Russia was LPP‘s second-biggest market after Poland, constituting 19.2% of its full-year sales revenue. It also said Ukraine could pose a risk to sales of up to 250 million euros ($271 million), or about 1% of the group total in 2021.įourth-quarter results of LPP, Poland’s biggest fashion retailer, were hit with a 335 million zloty ($78 million) write-down, covering closure of its stores in Russia. It operates 500 stores in the country, a quarter of its total.
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The German sportswear company warned in March of a hit to sales from closing in Russia, without giving an estimate. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: 24 have started to report associated losses. – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb.