Budapest, September 8, 2022 – AKKO Invest, a Premium category Budapest Stock Exchange company, again closed a very strong half year after its largest subsidiary, NEO Property Services, also saw excellent results in the first six months of the year. AKKO closed the first half with revenue of HUF 11.3 billion and EBITDA of HUF 1 billion, and it expects this positive trend to continue in the remainder of the year.
AKKO Invest Nyrt. continued to increase its revenue and profits in the first six months of the year. The largest subsidiary of the asset management company, NEO Property Services Zrt., a major company of the Hungarian facility management and property services segment, significantly contributed to the results, as the company continued to avoid the negative effects of the current uncertain economic environment (war, inflation, labor market). NEO, acquired by AKKO Invest in February of last year, continues to provide high quality services to its more than 250 clients and, despite of the increased competition on the facility management market, managed to add a number of new clients to its portfolio. Thanks to the increased number of contracts and projects, NEO also continued to expand its general contracting team. Construction works (developing leased properties, greenfield investments, real estate expansions, redesign works) play an especially important role in short and medium-term plans, as that is where the company sees the greatest potential for growth in revenue and results. NEO expects an exceptionally high number of individual orders in the last quarter, which it expects to further improve the performance of the first half; accordingly, after last year it again forecasts excellent results for the 2022 business year.
Primarily thanks to NEO’s investments, AKKO Invest, a Premium category Budapest Stock Exchange company, saw its revenue grow by 45 percent to HUF 11.3 billion and its EBITDA jump by 46 percent to HUF 1 billion in the first half of 2022 (of NEO’s figures, only the period following February 28 is included at AKKO, and not all of 2021), and its results before taxes was HUF 481 million (+9.8%) with total comprehensive income of HUF 360 million (+11.1%), increasing the company’s earnings per share (EPS) to HUF 11.2 after last year’s figure of HUF 9.7.