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Annual Report 2012of the Employee Foundation
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Published by:Employee Foundation of the VKR GroupBreeltevej
182970 HørsholmDenmarkTel.: +45 39 69 11
44www.employeefoundation.com
Translation agency:CLS Communication A/S
Graphic design, layout and illustrations:Adshape graphic design
by Kim Martinussen
Cover photo by:Fotolia
The Annual Report is printed on Cocoon Silk, an FSC-certified
paper. Printed by INNOGRAPHIC APS
Contents
Annual Report 2012
Foreword by the chairman of the boardAnnual report Financial
support for employees and their immediate families Financial
support for non-profit purposes OrganisationAbout the VKR Group
Page
35-7
89
101 1
2 Annual Report 2012
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Foreword by the chairman of the board
That said, it is gratifying that we were nevertheless able in
2012 to grant financial support to 240 people and to 103 local
organisations. Over the past year, we have made dona-tions in
support of people in many different situations in life: for
example, people coping with cancer, with stroke, equip-ment for
disabled people and educational grants, including student travel
scholarship. As for non-profit purposes in the vicinity of the VKR
Group's companies, many different pur-poses were granted financial
support, such as sports associa-tions, schools of music, social
drop-in centres, museums etc.
Granting support where it has most benefit is a heartfelt cause
for the Foundation. We are delighted by the coopera-tion we have
had with the 100-plus local recommendation committees, the members
of which provide the vital links to the applicants. The
recommendation committees' initial screening of all applications is
immensely useful, and we aim to continue working with the
recommendation com-mittees in such a way that the members and hence
the employees feel well-informed about the Employee Founda-tion's
purposes and potentials - and limitations. We urge the
recommendation committees to contact the secretariat in case of any
query or need for further information.
The work of the Employee Foundation in 2012 is presented in more
detail on the following pages. Happy reading!
István KónyaChairman of the Employee Foundation of the VKR
GroupMarch 2013
The financial crisis in Europe has also in 2012 affected the
Employee Foundation in the form of relatively low net yield. As the
current net yield constitutes the disposable liquidity for
donations for the benefit of employees and their immediate family
members, it has consequent-ly been necessary to adjust the
donations pattern to this reality.
The board decided in early 2012 to adjust its investment
strategy slightly to allow a small proportion of the Founda-tion's
capital to be invested in international corporate bonds as and when
deemed appropriate. Our assessment is that this will be conducive
to improved yields at very limited added risk. The investment
strategy remains to safeguard the Foundation's donations capacity
for the long term, including by preserving its capital intact.
Total donations in 2012 were down by around EUR 100,000 on the
previous year, due primarily to the smaller number of eligible
applications, and a slight adjustment in the size of donations. The
expectation for 2013 is for donations to be at approximately the
same level as in 2012. Notwith-standing the economic challenges,
the Employee Founda-tion is still financially solid and will
continue its donations in future.
Headlines from 2012
In 2012, the Employee Foundation made 343 donations totalling
EUR 724,294.
On 23 January 2012, ten employees received the Villum Kann
Rasmussen Award in recognition of their meritorious conduct in
their daily work and towards their colleagues.
The Employee Foundation's website has been updated regularly to
present examples of donations and other information.
Donations
Presentation of the Villum Kann Rasmussen Award
Website
István Kónya
3Annual Report 2012
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The students at the Elementary School Purkynova in Vyškov, the
Czech Republic, are happy about their new microscopes donated by
the Employee Foundation. The school submitted an application to BKR
CR, who recommended it for support.ˇ
ˇ
4 Annual Report 2012
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The board in ItalyThe board meeting in September 2012 was held
at VELUX Italia in Colognola ai Colli in the Verona province. The
board had the opportunity to meet the members of the recommendation
committee and to exchange experi-ences on their use of the Employee
Foundation. The board was given a guided tour of the company and
had the chance to meet and talk to a number of the employees. The
board also visited a local children's library, where a donation for
shelving was presented to the municipality's chief of cultural
affairs and the local librarian.
In 2012, the board of the Employee Foundation approved a total
of 343 donations worth just under EUR 725,000 all told. Of this
total, EUR 545,000 were donated to employ-ees in connection with
unforeseen unfortunate situations and for education purposes, while
just under EUR 180,000 were donated to non-profit purposes in the
local com-munities in which the VKR Group’s companies operate.
Pages 8-9 of the report present a number of examples of the
Employee Foundation's donations in 2012.
Administration of the Employee Foundation’s capitalSince its
inception more than two decades ago, the Em-ployee Foundation has
made donations totalling almost EUR 9.3 million to its designated
purposes. The donations are made, in accordance with the Foundation
Statutes, ex-clusively from the current net yield on capital, which
as at 31 December 2012 amounted to EUR 26.8 million. The cap-ital
is managed by VKR Holding's Financial Investments department based
on an investment strategy determined by the board of the Employee
Foundation. The funds are placed largely in convertible Danish
mortgage bonds.
In 2012 the board adjusted the investment strategy slightly;
however, for 2013 it anticipates a continued relatively low net
yield.
Annual Report 2012
The board trip to Italy included a visit to the local children's
library
5Annual Report 2012
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sustained at the same level as in previous years in spite of the
declining net yield. One of the aims of making donations to local
non-profit projects is to strengthen the reputation of the
companies.
Non-profit projects in the vicinity of VKR Group companiesAgain
in 2012, the Employee Foundation received an operating grant of DKK
1 million from VKR Holding. This grant enabled the Foundation's
donations to non-profit projects in the vicinity of the VKR Group
companies to be
Donations 2012
2012 1992 - 2012
Number of donations
EUR Number of donations
EUR
Financial support for employees 240 545,002 2,409 7,432,175
- Unfortunate circumstances 117 295,177 1,499 5,062,655-
Education purposes 115 204,926 818 1,896,252- Other purposes 8
44,899 92 473,268
Non-profit purposes 103 179,292 1,228 1,873,220
Total 343 724,294 3,637 9,305,395
0
100 000
200 000
300 000
400 000
500 000
600 000
700 000
800 000
900 000
Annual support (EUR)
1995199419931992 1996 19981997 20001999 20022001 20042003
20062005 20082007 2009
Support for employees Local support
2010 2011 2012
6 Annual Report 2012
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NewsletterVia the website at www.employeefoundation.com,
infor-mation brochures, articles in employee magazines and ad hoc
meetings with the local recommendation commit-tees, the Employee
Foundation aims for both employees and members of the
recommendation committees to be kept sufficiently well informed to
allow them to act as ambassadors for the Foundation.
In June and August 2012, the Employee Foundation published the
first two issues of an electronic newslet-ter presenting examples
of donations and other news items we wished to draw attention to.
The newsletter is published on the website and a link to it is sent
out to contacts serving on the local recommendation commit-tees,
who are asked to relay the information to the other members of
their committee and to post it on bulletin boards and so forth.
Revised donation policiesOver the years, a set of policies have
evolved regarding the situations in which donations can be made,
and on what scale. The secretariat should be contacted concerning
any query regarding donation policy. In 2012, only few policy
changes were made.
One of the Employee Foundation's main purposes is to support
non-profit projects located in the vicinity of VKR Group companies.
As a general rule, the projects must be based no more than 25 km
away from the company. In March 2012 it was decided that regional
offices with at least five employees are also to be regarded as
"vicinity locations", and that non-profit projects in their
vicinity are eligible for consideration by the main company's
recom-mendation committee.
Recipients of the Villum Kann Rasmussen AwardEach year on the
anniversary of the birth of Villum Kann Rasmussen – 23 January –
the Villum Kann Rasmussen Award is conferred on a select number of
employees, who on their individual merits have made a special
contri-bution and through their attitudes and actions have
demonstrated exemplary conduct. Candidates for the Award are
nominated by the local recommendation com-mittees. Out of these
nominations, for the 2012 Awards, the board of the Employee
Foundation had selected 10 employees, who in addition to the great
distinction carried by this recognition, also received a gift. The
local company where the individual award recipient works is
responsible for planning festivities for the Award day. By
tradition, a dinner is held for each recipient.
The Villum Kann Rasmussen Award 2013 has now been presented,
this time around also to 10 employees, which means that a total of
215 employees in 49 different com-panies have received this special
recognition.
’’ ’’
Svend Åge IversenVELUX A/S, Østbirk
Throughout his many years of service to the company he has
succeeded in preserving an amazing enthusiasm and unstint-ing
commitment in his work. Over the years, he has acquired extensive
knowledge and experience, which he readily shares with his
colleagues, while remaining receptive to new input and ideas. He
challenges the status quo and always has an eye for new
perspectives that maximise value for the company. Ever-ready for
new challenges, his keen commitment motivates both his colleagues
and external associates. Svend Åge Iversen is always helpful and
obliging and is well-liked by everyone.
Marie Christine Deliot KH-SK France S.A.S.
was one of the first eight employees at the company’s department
in Marnay, where she originally worked in production, and later in
quality control. She was granted educational leave in order to
obtain an accounting diploma. She now works in the administration
and finance department, where she is valued by colleagues and
management. She is open, straightforward, discreet and flexible.
She has exten-sive technical knowledge and welcomes professional
challenges. By virtue of her exemplary attitude and personal
development, Marie Christine Deliot is a role model within KH-SK
France.
Peter SchenkVELUX Deutschland GmbH
is a long-standing emplo-yee and team-leader for the window
product tech-nology department. His
natural impetus is to share his extensive and in-depth knowledge
of the products with his colleagues at home and abroad. This
applies both in day-to-day operations such as training courses,
complaints handling and quality-related product optimisation, and
in the pro-duct technology and preparations surrounding the launch
of new products. He works with dedication and loyalty, and
regardless of the pressure of work is always friendly and helpful.
Peter Schenk is a model employee and in every respect identifies
with the company.
Jim Tollison VELUX America Inc.
started out in the com-pany as logistics manager. Over the
course of his long-standing career with the company, he has
held
various positions, and is currently director of customer care,
and responsible for the call centre and after-sales service. He is
a problem-solver and has enhanced the company’s customer care
through his straightforward and honest contact with end users,
which has also resulted in product enhancements. Over the years, he
has trained countless staff in customer care. Jim Tollison is held
in high esteem by customers and col-leagues, and his attitudes and
work ethic are an exam-ple to everyone.
Egon Graversen VELFAC A/S
is a long-standing produc-tion employee with the company, whose
vocational skills have given him a di-verse range of work tasks:
assistance with purchasing, requirements specification of plant,
induction of new shift workers and commis-sioning of production
lines. He has a positive approach to new tasks and is driven by
personal commitment and solid, quality achievements. He interacts
with people throughout the company, and among staff and management
is known for his sense of humour and dry wit. Over the years, Egon
Graversen has been a role model and a respected supervisor to his
trainees.
József SoósVELUX Magyarország Fertodi Építokomponens Kft. works
as an operator in the aluminium components manufacturing division.
He has assisted in the
relocation and commissioning of production lines from other
facilities to FERBAU. Furthermore, for a couple of years he worked
as an assistant shift supervisor, standing in for supervisors
during holidays and leave periods. As a loyal, hard-working and
dedicated em-ployee, he is a remarkable source of inspiration for
his colleagues. He holds his superiors and co-workers in great
esteem. His ideas, improvements and suggestions are a real boon for
the aluminium manufacturing divi-sion. József Soós is a significant
contributor to the team spirit and the good atmosphere at
FERBAU.
Marleen RickaertVELUX Belgium S.A.
is a customer service assist-ant and is responsible for the
company’s showroom, where she ensures that visitors are made to
feel
welcome. She is friendly and approachable, profes-sional and
knowledgeable and is popular with both customers and colleagues.
Her duties range far and wide: product training for new employees;
dealing with correspondence; backup for warehouse staff in
loading/unloading trucks. Marleen Rickaert takes on any task, great
or small, keeps the company ticking over and makes it a great place
to work.
Stefan NilssonSvenska Fönster AB
is a key person in the manufacturing depart-ment at Svenska
Fönster in the section that deals with materials-supply to
production. He is at all times receptive and positive in his
reaction to the changes and improvements that are made. He shows
great flexibility in his work, and applies himself to requests from
other departments for changes and solutions with great dedication.
He is deft and efficient at his job and over the years has built up
a good network within the company. Stefan Nilsson shows the same
respect for everyone, and his focus is to do his job to the best of
his ability and to be a good employee and colleague.
´Jens Bruun-NielsenVELUX Danmark A/S
started out as a technical consultant and is current-ly
technical manager in charge of the Product & Building
Consultancy department, which serves professional and private
cli-ents. Assured in his management of expert consulting, complex
service assignments and local and national exhibitions, he makes
sure that quality is first-class and deliveries are on time. He has
helped to improve service procedures for the benefit of customers,
colleagues and the company alike. On account of his competence,
thoroughness and great commit-ment, Jens Bruun-Nielsen is a very
highly regarded colleague.
Inge Marie Stubkjær OlesenGåsdal Bygningsindustri A/S
started out as an all-rounder in the admin department at Gåsdal
Bygningsindustri
A/S and was subsequently made a buyer and materialsmanagement
coordinator. In recent years, she has worked as a supply
coordinator, supervising the com-missioning of new products in the
manufacturing de-partment; this has given her a large network
within Ac-cessories at home and abroad. She shows dedication to her
responsibilities, and sees her projects through from A to Z. She is
helpful and maintains constant focus on doing things better. Thanks
to her extensive technical expertise and not least her infectious
commitment, Inge Marie Stubkjær Olesen is a much-esteemed
colleague.
THE VILLUM KANN RASMUSSEN AWARD has been made annually since
1996 and is conferred on employees who have made a special
contribution to realising the Model Company Objective. The award
recipients are selected by the board of the Employee Foundation on
the recommendations of the individual companies.
The award is presented to coincide with the anniversary of the
birth of Villum Kann Rasmussen on 23 January. A total of 215
employees across 49 of the VKR Group’s companies worldwide have
received the award on the 18 occasions it has been presented.
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István KónyaChairman of the board
Employee Foundation of the VKR Group
Søren Bjerre-NielsenChairman of the board
VKR Holding A/S
Lars Kann-RasmussenChairman of the board
THE VILLUM FOUNDATION
Once again, we have the pleasure of conferring the VILLUM KANN
RASMUSSEN AWARD on ten employees, who, each in their own way, have
made a special contribution to realising the Model Company
Objective for the VKR Group. In selecting recipients, the emphasis
has been on commitment,
loyalty, high-value and quality work performance, imagination,
initiative, helpfulness towards colleagues and an infectious
enthusiasm for the job. These are the types of employees who make
the VKR Group a strong company and a great place to work.
Congratulations to all of our award winners!
AWARD 2013
VILLUM KANN RASMUSSEN
Recipients of the Villum Kann Rasmussen Award 2013
7Annual Report 2012
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A hard start for Jurek and his parentsWhen Jurek was born in
June 2009, his parents were totally unprepared when their
first-born was found to have club feet, a birth defect in which the
feet are turned inwards. The initial prognoses from the doctors
were drastic, telling the parents that Jurek would never be able to
walk unaided. However, the parents tracked down a clinic in Poznan
specialising in this disability, and were given hope of a brighter
future for their son. Initially, the family had to attend weekly
treatment where Jurek's feet were each time wrapped in new plaster
casting to ease them gradually into the correct position. The
treatment has paid off, and Jurek has started walking. However, to
help Jurek further along, he has yet to undergo another, very
costly surgical procedure. Jurek's father, Lukasz Borzyszkowski, a
production worker at DOVISTA Polska, really appreciates the
financial support from the Em-ployee Foundation.
Out of the 343 donations made by the Employee Foundation in
2012, 240 donations totalling just over EUR 545,000, benefitted
employees and their immedi-ate families in the form of financial
support following
unforeseen unfortunate situations and for completion of
children's education. The following presents two examples of
donations by the Employee Foundation:
Financial support for employees and their immediate families
Daniel studies for his dream degree
In spite of countless visits to hospital Jurek is a happy and
courageous boy. His sister, Juliet, keeps him on his toes
The Employee Foundation’s website at www.employeefoundation.com
presents more examples of donations.
Engineering and technology does it for Daniel20-year-old Daniel
O’Shea started at Stanford University to take his dream degree. In
June next year he graduates as a Bachelor of Mechanical
Engineering. He enthuses about the university, which has many keen
tutors and students, all of whom have the effect of raising the
whole academic level. Stanford University encourages students to
partici-pate in a wide range of projects, and Daniel is involved in
a Stanford solar car project and more besides.
His interest in mechanics and science is not entirely new, and
Daniel previously participated in First LEGO League, an
international technology tournament for 9-16-year-olds, where the
participating teams are assigned to build, test and programme
robots built from LEGO bricks. Daniel's dream for the future is to
work on engineering projects in the aviation or car industry, or on
robots. ”It was a wonder-ful surprise to be given an educational
grant from my dad's company", says Daniel.
´
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8 Annual Report 2012
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With humour, imagination and empathyEvery Monday and Friday life
on the children's ward at Hillerød Hospital, Denmark, can even be
fun for the patients. At least, as long as the hospital clowns
Stella & Victor are doing their conjuring act and delivering a
dose of their fun antics. The hospital clowns work in close
co-operation with the staff on the ward. They attend when the
children have to have blood tests, dressings changed, IV drops
removed and so on. In addition, the hospital clowns do a "ward
round" just like the doctor, visiting the children at their
bedside. They are often around and about in the ward lounge,
playrooms and on the corridors, where they take the focus away from
hospitalisation, treatments and illness and spread a feel-good
atmosphere for the young patients, their parents and the staff. A
donation by the Employee Foundation – recommended by the com-mittee
at VKR Holding – enables Stella & Victor to keep on
entertaining the young patients.
The other main purpose of the Employee Foundation is to support
non-profit activities in the local communities surrounding the VKR
Group's companies. In 2012, a total
of 103 donations worth EUR 180,000 all told were made for
non-profit purposes in the community.
Financial support for non-profit purposes
Gymnastics for everyone
Victor, the hospital clown, does his round at the children’s
ward
The Employee Foundation’s website at www.employeefoundation.com
presents more examples of donations.
Gymnastics for everyoneGymClub Tienen’s is a well-attended
gymnastics club with teams for both abled and disabled children.
Seven-year-old Rayanne has benefitted by the training. When he
started going to gymnastics, it was difficult for him to accept the
exercises he was asked to perform, and he reacted to loud noises by
putting his hands to his ears and withdrawing into himself. With
the aid of special training once a week, he is now far more
receptive to new inputs and exercises. Although he does not
communicate in language, his ability to express himself verbally
has been stimulated by the gymnastics training. Philippe Walczynski
from VELUX Belgium is active on the board of the gymnastics club.
Philippe took the initiative for apply-ing to the Employee
Foundation, and as a result the club has been able to afford to
purchase a large range of new gymnastics apparatus.
9Annual Report 2012
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Board of the Employee Foundation 2012At year-end 2012, the board
was composed of six members. The members, who are appointed by the
VILLUM FOUNDA-TION and VKR Holding, are elected for two years at a
time, with maximum continuous service of eight years.
Bjarne Thomsen, former Group director of VELUX A/S, has been
co-opted as advisor to the chairman/board.
Antoine Codron is due to step down from the board at the annual
general meeting in April 2013, as by then he will have served on
the board for eight years.
At the annual general meeting in April 2013, VKR Holding will
thus be expected to nominate a new member for the board of the
Employee Foundation.
Organisation
Bjarne Thomsen Antoine Codron Joan Ørbæk Hansen Massimo Buccilli
Else Nassar István Kónya Peter Nygaard
Board members appointed by the VILLUM FOUNDATION:
• István Kónya, (Chairman), former CEO of the VELUX factory in
Hungary (2008)
• Peter Nygaard, VELFAC company in Denmark (2010)• Massimo
Buccilli, CEO of the VELUX company in Italy
(2011)
Board members appointed by VKR Holding:
• Antoine Codron, former CEO of the VELUX factory VKR France
(2005)
• Else Nassar, BT Components (2007)• Joan Ørbæk Hansen, Rationel
Vinduer (2009)
10 Annual Report 2012
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Solarthermal energy
Vertical windowsRoof windows& Skylights
Ventilation &indoor climate
Associated entities31 12 2012
Financial Investments
generalsolar
The secretariatThe board meets four times a year to consider the
appli-cations forwarded by the local recommendation com-mittees of
the VKR Group’s companies from employees and non-profit projects in
the local community. Each of the Group’s companies has either a
contact person or a recommendation committee to arrange contact
between the Foundation and employees in need of financial sup-port.
The recommendation committees screen all ap-plications and
inquiries and also keep a proactive eye on situations in which
financial support from the Employee Foundation would be of the
greatest benefit. The Em-ployee Foundation’s secretariat also
assists in providing information and advice to applicants. The
secretariat is staffed by Gitte Hemmingsen and Hanne Raun.
Please contact the secretariat by phone on +45 39 69 11 44 or at
[email protected].
VKR Holding owns companies in four business areas:• Roof windows
& skylights • Vertical windows • Solar thermal energy •
Ventilation & indoor climate
VKR Holding's companies have a total of approx. 15,000 employees
in more than 40 countries. VKR Holding is owned by the Kann
Rasmussen family and the VILLUM FOUNDATION, which is the principal
shareholder.
About the VKR Group
Gitte HemmingsenHanne Raun
Applications for consideration by the board
11Annual Report 2012
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FO15
2-03
13U
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Breeltevej 182970 Hørsholm
Denmark
Tel.: +45 39 69 11 44www.employeefoundation.com
CBR-No. DK 15 98 33 88
