SCM’s profit before tax declines 91% y-o-y in 2009
14 July 2010
System Capital Management, the largest company in Ukraine, yesterday announced the key results of its consolidated 2009 IFRS financials, audited by PricewaterhouseCoopers. Consolidated profit before tax fell from USD 3.0 bln in 2008 to USD 0.3 bln in 2009, and its gross revenues from USD 19.55 bln in 2008 to USD 8.15 bln in 2009. The group’s assets amounted to USD 18.5 bln as of end-2009, vs. USD 18.1 bln as of end-2008. SCM is the managing company of SCM Group, which includes Metinvest Holding, DTEK, VegaTelecom Group, Segodnya Multimedia, and TRK Ukraina. It is 100% owned by Ukrainian businessman Rinat Akhmetov.
