The VELUX Group celebrates its anniversary with a record result
2015 saw strong performance in terms of both turnover and earnings. The focus for 2016 will be on growth of the core business.
The VELUX Group has reported a record result in 2015, which is reflected in the positive development of its operations.
“As we celebrate our 75th anniversary, this strong performance shows our commitment to the development of our business. We are seeing consumers with more buying power who are increasingly demanding more sophisticated products. And we are continuing the process of internationalisation of our production- and logistics systems, which is making us even more efficient. Overall, the VELUX Group saw a very satisfactory development in 2015, with growth in turnover and a good development in operations,"
Agility and readiness
The VELUX Group has sales companies in 40 countries and an overall picture of growth is appearing, although it varies from country to country. The Group is experiencing positive development in the building sector as a whole.
“Volatility in society means that we have less focus on making long-term plans. On the other hand, we have a sharp focus on agility and readiness, so that we can react quickly when possibilities arise. And, of course, we give a great deal of attention to our innovation pipeline,”
Innovation drives growth
In particular, The VELUX Group sees potential in the innovative VELUX Modular Skylight (VMS). The product provides standardised roof windows in modules which can be installed in industrial, commercial and educational buildings, as well as hotels and conference centres. The first ventures into the VMS initiative were made in 2009, with VMS products now being sold on eight European markets, China and the USA. Considerable growth in sales of VMS is still expected, as well as expansion into still more markets.
Blinds and other accessories are another area of strong growth and in which collaboration have proved successful – most recently with Disney and the Star Wars & VELUX Galactic Night Collection.
Expectations for 2016
The VELUX Group has positive expectations for 2016 and thereafter, despite the several geopolitical conditions that could affect financial growth in its markets.
“We have got off to a good start in 2016 and our main focus is the development of our core business. We continue to focus on continually raising our efficiency and ensuring our global competiveness. We have a range of products today that equip us to meet the demands of 2020, and we still see consumer trends with increasing demands for functionality and high quality,”
Renovation concepts, that create better homes in terms of energy efficiency and indoor climate could drive market developments and act as a financial catalyst for European economies. The VELUX Group wants very much to support this development and will be launching its 26th demo project – the flexible renovation of a building in a social housing complex in Brussels. Its objective is to show that cutting CO2 emissions from buildings can be achieved with a modest budget. The local city council has decided to renovate a further 84 buildings to the VELUX model, which could be replicated in renovation projects throughout Europe.
But there are also factors that could put the brakes on the expected positive development of the market.
“The UK is facing a referendum on EU membership. This could create uncertainty among companies and consumers. At the same time, the Schengen agreement is under pressure, with the possible outcome that limiting the free movement around Europe among others could have a negative effect on costs and efficiency for an international company such as The VELUX Group,”
About the VELUX Group
For more than 80 years, the VELUX Group has created better living environments for people around the world; making the most of daylight and fresh air through the roof. Our product programme includes roof windows and modular skylights, decorative blinds, sun screening products and roller shutters, as well as installation and smart home solutions. These products help to ensure a healthy and sustainable indoor climate, for work and learning, for play and pleasure. We work globally – with sales and manufacturing operations in more than 36 countries and around 11,000 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company wholly owned by non-profit, charitable foundations (THE VELUX FOUNDATIONS) and family. In 2022, the VELUX Group had total revenue of EUR 2.99 billion, VKR Holding had total revenue of EUR 4.29 billion, and THE VELUX FOUNDATIONS donated EUR 181 million in charitable grants.
For more information about VELUX Group, visit velux.com.