enBW • Integrated Report • Risks and opportunities

• Value creation

Key observations:

To assess the long-term viability of an organisation’s business model, it is key to understand that the organisation not only maximises financial capital outcomes for itself and its shareholders, but also assesses outcomes on other stakeholders. EnBW provides a concise overview of the outcomes for the organisation and its stakeholders in terms of the effect of the business model on each of the capitals.