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Governance & reporting

We have set policies and practices to ensure that we run all aspects of our business ethically and responsibly.
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Policies that ensure responsible and sustainable business practices
Our governance structure at VELUX Group follows good governance principles at all levels. We have a clear reporting system, with Sustainability and Finance teams providing quarterly updates to the Executive Group Management (EGM). Senior managers own strategic sustainability projects, overseen by EGM members. We also track 'running indicators' to measure responsible business practices, verified externally and reported in our ESG reports.

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Sustainability reportingStandards and policies

Ownership

The VELUX Group is owned by VKR Holding A/S, a limited company owned by the Villum Foundation and members of the Kann Rasmussen family. The VELUX Group’s financial results are incorporated into VKR Holding’s consolidated accounts. In 2023, the VELUX Group had a total revenue of EUR 2.91 billion, VKR Holding had a total revenue of EUR 3.97 billion, and the Villum Foundation and the VELUX FOUNDATION donated EUR 184.6 million in charitable grants. The VKR Group consists of two main business areas, VELUX and DOVISTA, and is present in 38 countries.

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Model Company Objective

The way we do business is aptly defined in our Model Company Objective, which our founder Villum Kann Rasmussen formulated in 1965. With the Model Company Objective, we aim to set a positive example through our behaviour. It guides how we respectfully engage with the people we work with, defines how we give back to the societies in which we operate and sets the direction for how we responsibly work with scarce natural resources.

Governance & reporting
Sustainability reporting
We want to be transparent about our contribution to a more equal, sustainable future. We do this by publishing an annual sustainability report.
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APPROACH & PROGRESS
Turning ambition into action
In our work with sustainability, we have set ambitious targets to guide our work. These targets have been chosen based on how they can reduce our impact on society and the environment, as well as their financial impact on our business.