OREANDA-NEWS. September 22, 2011. The SCM Group1 has revealed consolidated financial data for 2010 prepared in accordance with IFRS and based on the audit of PriceWaterhouseCoopers. This has been the seventh consolidated report of the SCM Group developed in compliance with IFRS (first consolidated financials were prepared for 2004) and assured by an international consultancy.

Key consolidated indicators of SCM's activity in 2010:

Consolidated assets of the SCM Group as of late 2010 made USD 22.788bn

Consolidated gross income of the SCM Group in 2010 made USD 12.819bn.

Consolidated profit of the SCM Group in 2010 before taxes made USD 1,299bn.

Consolidated income tax expense of the SCM Group in 2010 made USD 0.449bn.

Capital investments made USD 1,119bn.

The SCM Group employs about 198,000 people.

"Our key performance indicators were mostly driven by two factors. Firstly, 2010 marked the year of recovery of SCM Group's market positions after the recession in the global and Ukrainian steel market. In addition, Ilyich Steel Plant became a part of the Metinvest Group in 2010," underscored the CEO of SCM Oleg Popov. "We are going to channel our profit into modernisation and development of SCM Group's assets. Also, safe working conditions, environmental protection and development of our employees remain our focus areas."

1 SCM Group businesses are all companies and organizations controlled directly or indirectly (where SCM owns or manages the controlling stock or has majority in governance bodies of the company) by managing company, System Capital Management (SCM).