16| 2020 Sustainability Report |Aqualia’s horizon Value creation, the best starting point Aqualia's value creation model is based on the business model. This model follows a sequence from the entry of key assets, which Aqualia manages or owns, to the way in which Aqualia adds value to these assets. This is how value is created for all the interested parties. All elements of the business and the value created for our shareholders are explained in this annual report.