Renewed Board of Directors supports AKKO Invest’s further growth

At the annual general meeting of AKKO Invest, shareholders approved the company’s 2024 report, which contained record sales and profits: the company, listed in the Premium category of the Budapest Stock Exchange, saw its sales revenue increase by nearly 14 percent to HUF 43.5 billion, while its EBITDA increased from HUF 3.1 billion in 2023 to HUF 3.4 billion, after its largest subsidiary, NEO Property Services Zrt., a dominant player in the Hungarian real estate services market, further increased its sales revenue and profits last year. The asset management company’s main owner, Mevinvest, part of the WING Group, implemented a capital increase of more than HUF 10 billion in the spring in order to implement AKKO’s growth plans, after further increasing its stake in AKKO Invest in a public tender offer in December 2024. At the general meeting, in line with the increase in Mevinvest’s ownership ratio, the shareholders also decided that the company would be headed by new members of the Board of Directors who have gained significant domestic and international experience in listed companies and the real estate market in recent decades. Based on the decisions of the general meeting, Noah M. Steinberg, President and CEO of WING Zrt., was appointed to the Board of Directors, while Gyula Mező, CEO of Wallis Asset Management Zrt., László Vágó, CEO of NEO Property Services Zrt., and Sándor Gyáfrás, CEO of Gladiátor Investment Fund Management Zrt., owned by the WING Group, were appointed to the Board of Directors. CEO. Tamás Giller, Deputy Chief Financial Officer of NEO Property Services Zrt., was also elected as a member of the Board of Directors. He was also included in the company’s Audit Committee with Imre Attila Horváth (CEO of Gladiator Investment Fund Management Zrt., Finance Director of WING Zrt.).