NEO Property - Press Release ESG 2023

Budapest, September 9, 2024 – In its newest ESG report, NEO Property Services Zrt. once again gives account of its results in the areas of environmental protection, social, and corporate governance. In the report pertaining to 2023, the major player in the Hungarian property services segment presented its sustainable operations-related targets while also starting preparations for data reporting in accordance with the EU Taxonomy Regulation.

NEO Property Services Zrt. published its ESG report for 2023, making this the second time the subsidiary of AKKO Invest Nyrt., registered on the Budapest Stock Exchange, reported on its targets and results in the fields of environmental protection, social, and corporate governance. NEO Property Services Zrt. CEO László Vágó explained that as a property service provider, NEO is in a unique situation as the office, logistics, industrial, and apartment buildings it operates, as well as the residential parks built by its general contracting division, encompass thousands of jobs and homes, meaning its activity effects the work and family lives of a large number of people – and it manages the sustainability-related factors with due priority. From the outset, NEO has been committed to the protection of the natural and built environment as well as sustainable development – accordingly, it started preparing its report in 2022 even though the statutory deadlines only set this obligation starting from 2025. He added that, in line with the report, the company has started preparations for the data reporting required by its legislative obligations (EU Taxonomy Regulation, Hungarian ESG Act)

As a major player in the Hungarian property services segment, NEO Property Services started the preparation of the 2023 report by reviewing and updating focus areas, for which it expanded the range of those contacted for the survey to ensure that the results reflect the opinion of NEO’s employees, most important clients, and suppliers. Among others, NEO’s second ESG report examined how climate change, digitalization, business ethics, and regulatory compliance affect the company’s activities and what steps and specific targets these require the company to take. NEO has increased the digitalization of its processes accordingly, which, in addition to improving business efficiency, also led to a reduction in its environmental footprint; additional targets include increasing digitalization in its operations and continuing the development of existing systems. In the interest of protecting the health and increasing the well-being of its employees, the company will provide more screening examinations; in the field of environmental and climate protection, an important goal is the development of the processes necessary for the preparation of the EU Taxonomy report, the defining of responsibilities and competences, and promoting cyclical, sustainable operations.

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 2023, it achieved an all-time high revenue of HUF 37.9 billion. 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 almost 300 clients, including Hungary’s major corporations: MOL, Magyar Telekom, EON, MVM, MÁV, WING, Corvinus Egyetem, MTVA, Praktiker, Metro, Coloplast. 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