The VELUX business

In 2016, we celebrated the 75th anniversary of the year when the founder, Villum Kann Rasmussen, started his company, specialising in glass roofs. For 75 years, the VELUX Group has created better living environments with daylight and fresh air for people around the world.

The Model Company Objective, formulated by the company founder in 1965, is the raison d’etre of the VELUX Group. The Model Company Objective provides a long-term perspective on the company’s development, and guides decisions and actions at all levels in the organisation.

The Model Company Objective - why we are here

It is the Group's purpose to establish a number of Model Companies which cooperate in an exemplary manner. 

By Model Company we mean a company working with products useful to society which treats its costumers, suppliers, employees of all categories and shareholders better than most other companies.

A Model Company makes a profit, which can also finance growth and maintain financial independence.

Villum Kann Rasmussen, 1965

The essence of the Model Company Objective is that the VELUX Group must create value for both company and society, while behaving responsibly towards our stakeholders. In that way, the Model Company Objective (from 1965) mirrors the EU definition of Corporate Responsibility (from 2011): that a company must take responsibility for its impact on society, maximising shared value for owners, other stakeholders and society at large, while minimising adverse impacts.

Read more about the Model Company Objective and the VELUX Values



Presence
The VELUX Group is headquartered in Denmark and employs 9,500 people at sales and production sites in 40 countries.
Products
The VELUX Group is one of the strongest brands in the building industry and offers products and services in these categories:

  • Roof windows and skylights 
  • Modular skylights for commercial buildings 
  • Flat-roof windows and sun tunnels
  • Blinds and roller shutters
  • Flashings and installation products
  • Products for remote control

Products for remote control

Modular skylights for commercial buildings

Flat-roof windows and sun tunnels

Blinds and roller shutters

Roof windows and skylights

Ownership
The VELUX Group is wholly owned by VKR Holding A/S, a limited company owned by foundations and family. The VELUX Group’s financial results are incorporated into VKR Holding’s consolidated accounts. In 2016, VKR Holding’s revenue amounted to € 2.4 billion (DKK 18.1 billion) and net profit for the year came to € 350 million (DKK 2.6 billion).

A large share of the profits of VKR Holding A/S is returned to society by THE VELUX FOUNDATIONS (VELUX FONDEN and VILLUM FONDEN) that support scientific, environmental, social and cultural purposes in Denmark and internationally. The foundations operate independently from VKR Holding A/S and its companies. In 2016, THE VELUX FOUNDATIONS donated € 154.8 million.

In 2016, the foundation VILLUM FONDEN granted € 120.3 million (DKK 902 million) to projects such as:
75th anniversary donation: In 2016, the VKR Group celebrated its 75th anniversary. The anniversary project ‘the VILLUM Centre for the Science of Sustainable Fuels and Chemicals’ by DTU was granted € 20.0 million to support its great efforts in conducting research to development pioneering technologies to replace fossil fuels with renewable alternatives.

Environment and sustainability: Organic Denmark, an organic farming and food advocacy organisation, has developed the project ‘Socially Beneficial Agriculture’ to devise sustainable agricultural models for Denmark’s future, which will benefit society by doing more than just supplying affordable produce. VILLUM FONDEN granted € 2.2 million to the project.

Social projects: Central European University, Hungary, initiated a joint project with various European universities called ‘Roma in European Societies Initiative’. The aim is to weave a social and education net to support a disadvantaged and criticised population group: the Romas. VILLUM FONDEN donated € 2.0 million to support the project’s aim of Roma integration in Europe.

In 2016, the foundation VELUX FONDEN donated € 34.5 million (DKK 259 million) to projects such as:
Environment and sustainability: The project ‘Plastic-free Sea’ received € 1.2 million from VELUX FONDEN (and VILLUM FONDEN). Behind the project are the two NGOs Plastic Change and the Ecological Council as well as the trade association The Danish Plastics Federation. The aim of the project is to implement various measures to examine and reduce plastic pollution in the waters around Denmark.

Social projects: Via the project ‘Windows onto the future – find new paths in your life’, the Salvation Army has given a voice to those who suffer genuine hardship and are unable to work and be ‘productive’ in society and therefore often feel that they are not heard or understood. The project is a supportive network for families to give them hope of a better life and has been granted € 300,000 from VELUX FONDEN.

Culture and society: We are currently being drawn, unawares perhaps, into a technological revolution that, according to the latest predictions, will result in fundamental changes to the labour market and in our way of interacting. Now more than ever, the humanities have a significant role to play. € 800,000 was granted to the project ‘the Robot Revolution: who holds responsibility?

Every two years, VILLUM FONDEN, VELUX FONDEN and VELUX STIFTUNG join forces to select the winners of the Daylight Award. The Daylight Award is an international award that focuses on the interface between architecture and research – and places great emphasis on the interaction between theory and practice. In 2016, the outstanding achievements of two internationally acclaimed individuals, Steven Holl (Principal of Steven Holl Architects, New York City and Beijing), and Marilyne Andersen (Professor of Sustainable Construction Technologies and Dean of the School of Architecture, Civil and Environmental Engineering (ENAC) at École Polytechnique Fédérale de Lausanne) were recognised with a cash prize of € 100,000 for each awardee.

Environmental concerns are also considered when investing. In 2016, the board of VILLUM FONDEN adopted a new strategy on Impact Investment. By 2020, 10% of the foundations’ tied-up assets are to be in green impact investments with the dual purpose of generating attractive financial returns alongside clearly defined green impacts. As such, they contribute to the transition towards a more environmentally sustainable society.

Donations from the foundations in DKK from 2012-16:

VILLUM FONDEN

VELUX FONDEN

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