OREANDA-NEWS. System Capital Management (SCM), the managing company for the largest Ukrainian private business group – SCM Group, announces that the accounting company PricewaterhouseCoopers has completed the audit of the consolidated financial statement of the company for 2006. The consolidated statement has been prepared in conformity with requirements of the International Financial Reporting Standards (IFRS) and contains information on the financial performance of all assets of SCM Group*.

Key consolidated figures for SCM Group performance in 2006 are:

Consolidated assets of SCM Group for the year 2006 amounted to $11.372 billion (in 2005 - $7.514 billion).
Consolidated gross revenue of SCM Group for the year 2006 amounted to $6.719 billion (in 2005 - $5.658 billion).
Consolidated net profit of SCM Group for the year 2006 amounted to $1.053 billion (in 2005 - $0.979 billion).
Consolidated taxes on profits of SCM Group for the year 2006 amounted to $0.349 billion (in 2005 - $0.296 billion).
The number of employees who work at the Group’s assets amounted to approximately 160 thousand people.

“Acting in line with its commitment to transparent business governance System Capital Management discloses key figures of the Group’s consolidated financial statement on a regular basis. 2006 figures reflect the growth of our business and its contribution to the Ukrainian economy. We are developing both industrial businesses, which are traditional for SCM, and new high-tech businesses”, said Oleg Popov, the General Director of SCM. He also added: “Being a socially responsible business we make regular and accurate contributions to the state budgets of all levels, make timely payments of wages to 160 thousand employees of SCM’s assets, and play active role in social and economic development of the regions where our assets operate and of Ukraine in general”.

It is the third consolidated financial statement of SCM Group, prepared in conformity with IFRS rules (the first .consolidated statement of the Group was prepared for 2004) and certified by an international accounting company.

• Assets of SCM Group are all companies and organizations directly or indirectly controlled by Joint Stock Company SCM.