6 September, 2011 Aurora Russia, owners of OSG Records Management (Europe), have confirmed that the continued strong financial success of OSG, opens the possibility of an IPO.
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.
“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”.