The Capital Base

Both Foundations possess a capital base composed mainly of bonds and portfolio shares, which provide regular cash returns in the form of yields and dividends.

As principal shareholder, the VILLUM FOUNDATION also receives revenue from VKR Holding, the parent company of a number of companies in the area of roof windows and vertical windows, such as VELUX, VELFAC and Rationel Vinduer, and within thermal solar heating. Thus according to its statutes, the VILLUM FOUNDATION also has a concomitant co-responsibility for "guaranteeing the financial foundation for the continued existence of VKR Holding A/S and its affiliated companies on a sound commercial and financial basis". This entails for instance that the Foundation is party to election to the board of VKR Holding.

The VELUX FOUNDATION is not legally or financially associated with VKR Holding or its affiliates. Since its inception in 1981 the VELUX FOUNDATION has received both capital and donation funds from the VILLUM FOUNDATION.

Owing to their common origin, the two Foundations cooperate closely, among other things, by virtue of their joint administration and general management.