NEO Property Services issues its first ESG report

Businessman standing in office building, thinking
Budapest, September 18, 2023 – NEO Property Services Zrt. has published its first ESG report. This step continues to strengthen the commitment towards sustainable operations by the major player in the Hungarian property services segment and AKKO Invest Nyrt. subsidiary. In its report, NEO introduces its environmental protection, social, and corporate governance targets and the results it has achieved thus far. NEO Property Services Zrt., a subsidiary of AKKO Invest Nyrt., registered on the Budapest Stock Exchange, has published its first ESG report. The report on the year 2022 presents the environmental protection, social, and corporate governance targets of and the results achieved by NEO, a major player in the Hungarian property services segment. Ever since it was established in 1999, the company has always been committed to the protection of the natural and the built environment and to sustainable development. It drew up and published its first Sustainability and CSR policy in 2016. NEO Property Services Zrt. CEO László Vágó explained that compiling an ESG report provides an opportunity to assess the current state of the natural, social, and economic environment and to the role that the company plays in its development. He added that NEO, as a multi-faceted property service provider, is in a unique situation, as its activities impact the conditions of the work and family lives of a large number of people. NEO’s almost 600 employees can and do take many steps to provide the best possible services to its clients with the smallest possible environmental load. These requirements can be met if cooperation is possible with both the owners and the users of buildings. In its first ESG report, NEO examined 11 topics and areas regarding its operations, including workplace health and safety, ethical business and regulatory compliance, energy efficiency, climate change, waste management, and digitalization. NEO Property Services’ ESG report has found that the greening of property services requires systemic changes that must involve all actors in the value chain in performing their respective tasks. Since its foundation in 1999, NEO Property Services Zrt. has been a major property service provider in Hungary. The company is on a steady growth path: in 2022, it achieved an all-time high revenue of HUF 28.2 billion. Its aim remains to achieve dynamic yet sustainable growth, about which it will regularly report in its annual ESG reports. Its operations include integrated facility management, property management, the project management related to real estate investments, construction industry general contracting, and condominium management. Thanks to its national coverage and its complex services built on synergies and tailored to client needs, NEO has had stable partnerships with its key partners for many long years. The company has more than 280 clients, including Hungary’s major corporations: MOL, Magyar Telekom, EON, MVM, MÁV, WING, Corvinus University, MTVA, Praktiker, OBI, Metro, Coloplast, Opella Healthcare. It operates more than 3 million m2 of property and is responsible for the maintenance of more than 10 million m2 of outskirts areas for its clients, and has built several tens of thousands of m2 of property and manages more than 3300 condominium subdivisions.