Healthy air,
Volution Group plc Annual Report 2022
sustainably
Strategic Report
1 Our Sustainable Growth Model
2 2022 Highlights
4 Our Purpose and Values
5Our Investment Case
6 At a Glance
8 Our Growth History
10 ESG Summary
12 Chairman’s Statement
14 Chief Executive Officer’s Review
24 Our Business Model
26 Market Overview
28 Our Strategy
30 Stakeholders
32 Sustainability
52 Finance Review
58 Key Performance Indicators
62 Risk Management and Principal Risks
72 Non-Financial Information Statement
Governance Report
74 Chairman’s Introduction
76 Board of Directors
78 Governance Framework
81 2022 Board Activities
83 Governance Report
89 Nomination Committee Report
92 Audit Committee Report
100 Directors’ Remuneration Report
122 Directors’ Report
126 Directors’ Responsibility Statement
Financial Statements
127 Independent Auditor’s Report
136 Consolidated Statement
ofComprehensiveIncome
137 Consolidated Statement
ofFinancialPosition
138 Consolidated Statement
ofChangesinEquity
139 Consolidated Statement ofCashFlows
140 Notes to the Consolidated
FinancialStatements
180 Parent Company Statement
ofFinancialPosition
181 Parent Company Statement
ofChangesinEquity
182 Parent Company Statement ofCashFlows
183 Notes to the Parent Company
FinancialStatements
Additional Information
189 Glossary of Technical Terms
190 Shareholder Information
www.volutiongroupplc.com
Our energy efficient
indoor air quality
solutions help
contribute to the
global green economy
1
Annual Report 2022 Volution Group plc
Strategic Report
Our Sustainable Growth Model
wth Model
Our strategy
We aim to achieve our goals
through a combination of
three strategic objectives:
organic growth, selective
value-adding acquisitions
and operationalexcellence.
See more page 28
Our purpose
Our purpose is to
provide healthy indoor
air, sustainably. This
commitment is integral
to everything we do and
impacts every decision that
we make. We encourage
our team to centralise our
purpose in theirthinking.
See more page 4
Our values
Our values form the basis
for our behaviour and
our culture. These values
guide the way that we
work, communicate and
deal with each other and
form an important part of
oursuccess.
See more page 4
Our business
model
We are committed to
building on the strength
of our successful business
model; we continue to
develop these differentiators
that are central to making us
a successful organisation.
See more page 24
A healthy net zero carbon future
The elements of our sustainable growthmodel worktogether to
deliverour unique value proposition. Combined,they deliver high
returns andlong-term value for stakeholders whilst ensuring we
continue todeliver on ourenvironmental and social objectives.
Underpinned by our
investment case
We aim to continue to deliver value for our investors with reliable,
strong and consistent development in financial results whilst
minimising our impact on the environment and helping deliver the
net zero carbon goals of the geographies in which we operate.
More page 5