Figures released by the London Stock Exchange listed investment company, confirmed revenues increased by 32% and EBITDA by 34% for 1st half 2011. The presentation also said that successful growth had been driven by recurring storage revenues and the recovery in services – up 48% year on year in 1st half 2011. It is estimated that in June 2011, OSG had 2.76 million boxes in storage with a capacity for an additional 700 thousand boxes. The domination of OSG in Russia and the CIS means the company is well placed for a successful IPO in the coming months.
Krzysztof Bobrowski, OSG Records Management Group President and CEO said:
“OSG has never been in a better position. With 14 years of growth in the region and almost 3 years of audited fully consolidated accounting figures we are heading steadily to a successful IPO. I feel the time is right to take the OSG brand to the next level. It will enable us to strengthen our hold on key markets further, and target new opportunities. OSG has enormous potential. Records management in OSG’s regions provides a very attractive opportunity for investors. Not only is there a recurrent revenue stream resilient to the recent economic downturn, but there is excellent growth in a fast developing sector. There is the potential that it will grow to the levels shown in North America. Such an attractive proposition will have a strong appeal to investors. We will be announcing a more detailed IPO schedule soon”.
FOOTNOTE
OSG is the leading provider of document and data management solutions for companies operating in the CIS and EU. With over 30 years of experience to draw from and award-winning levels of service, OSG continues to grow an impressive client base of regional and international companies.й.