=$95â(1-(
3520-(1(1$
.26,/,&,
80(7$.
=$0$/ý
95(û$
=$
75$98
860-(5,
9$ý=$
%2ý12
,=%$&,
9$1-(
=D]DGQMHSDNR
YDQMH
î
¥
î
=DPDOþLUDQMH
¥
î
î
=DERþQRL]EDFL
YDQMH
¥
î
¥
¥SRVWDYOʁHQR
îXNORQMHQR
5$'
832=25(1-(
1HPRMWHUXNRYDWLEDWHULMVNLPSDNRYDQMHPSUHNLGDþHPLOL
PDãLQRPPRNULPUXNDPD0DãLQXQHPRMWHL]ORåLWLNLãLLOL
GR]YROLWLGDWHþQRVWXÿHXSURVWRUPRWRUD
7RNRPUDGDQRVLWH]DãWLWX]DRþL
32.5(7$1-(0$â,1(
6OLND
8EDFLWHVLJXUQRVQLNOʁXþ
3ULWLVQLWHLGUåLWHGXJPH]DSRNUHWDQMH
'RNGUåLWHGXJPH]DSRNUHWDQMHSRYXFLWHSUHNLGDþQD
UXþNLSUHPDXSUDYOʁDþX
6DGDPRåHWHRWSXVWLWLGXJPH]DSRNUHWDQMH
%,/-(â.$
$NRVHPDãLQDVHQHSRNUHüH
RWYRULWHSRNORSDFRGMHOMND]DEDWHULMXLSURYMHULWH
VLJXUQRVQLNOMXþ
XNORQLWHEDWHULMVNRSDNRYDQMHLSURYMHULWHWLMHORNRVLOLFH
NDNRELVWHVHXYMHULOLGDVHWUDYDQHOLMHSL]DQRåLGDVH
QRåPRåHVORERGQRRNUHWDWLUXNRP
0HNRSRNUHWDQMH
2YDPDãLQDVDOLWLMXPMRQVNRPEDWHULMRPSRVMHGXMHIXQNFLMX
PHNRJSRNUHWDQMD.DGDSRNUHQHWHPDãLQXRQDGROD]LQD
SXQXEU]LQXQDNRQSULEOLåQRVHNXQGH
=$867$9/-$1-(0$â,1(
6OLND
'DELVWH]DXVWDYLOLPDãLQXRWSXVWLWHSUHNLGDþQDUXþNL
832=25(1-(
3ULMHQHJRãWRPDãLQXSRQRYRSRNUHQHWHVDþHNDMWHGRNVH
QRåSRWSXQR]DXVWDYL1HPRMWHEU]RLVNOMXþLYDWLL
XNOMXþLYDWLPDãLQXMHUüHMHWRRãWHWLWL
832=25(1-(
1DNRQ]DYUãHWNDSRVODXYLMHNL]YDGLWHVLJXUQRVQLNOʁXþL
EDWHULMVNRSDNRYDQMH
5$'6$6$02+2'1,0
6,67(020
6OLND
3RNUHQLWHPDãLQX
'RNGUåLWHSUHNLGDþUXþNHJXUQLWHUXþLFXVDPRKRGQRJ
SRJRQDXVPMHUXXSUDYOMDþD
'HVQRPUXNRPLVWRYUHPHQRGUåLWHSUHNLGDþUXþNHL
UXþLFXVDPRKRGQRJSRJRQD
/LMHYRPUXNRPSRGHVLWHGXJPH]DNRQWUROXEU]LQH
'DELVWHSRYHüDOLEU]LQXJXUQLWHGXJPH]DNRQWUROX
EU]LQHXVPMHUXVLPEROD]HFD
'DELVWHVPDQMLOLEU]LQXJXUQLWHGXJPH]DNRQWUROX
EU]LQHXVPMHUXVLPERODNRUQMDþH
'DELVWH]DXVWDYLOLVLVWHPVDPRKRGQRJSRJRQDRWSXVWLWH
UXþLFXVDPRKRGQRJSRJRQD
35$ä1-(1-(3268'(=$75$98
,VNOMXþLWHPDãLQX
,]YDGLWHVLJXUQRVQLNOʁXþ
8NORQLWHEDWHULMVNRSDNRYDQMH
2WYRULWHSRNORSDF]DGQMHJL]EDFLYDQMDLGUåLWHJD
'UåLWHSRVXGX]DWUDYX]DQMHQXUXþNXLRWNDþLWHMHVD
ãLSNHYUDWD
=DWYRULWHSRNORSDF]D]DGQMHL]EDFLYDQMH
,VSUD]QLWHSRVXGX]DWUDYX
5$'1$1$*,%8
832=25(1-(
1HPRMWHNRVLWLQDQDJLEXYHüHPRG$NRVHQHRVMHüDWH
XJRGQRQHPRMWHNRVLWLQDQDJLEX
832=25(1-(
.DGDNRVLWHQDQDJLEXRGUåDYDMWHPDOXEU]LQXVDPRKRGQRJ
SRJRQD
1HPRMWHLüLJRUHGROMHSRQDJLEXNRVLWHSUDWHüLSRYUãLQX
QDJLED%XGLWHSDåOʁLYLNDGDPLMHQMDWHVPMHUQDQDJLEX
3UDWLWHUXSHNRULMHQMHNDPHQMHLGUXJHVNULYHQHREMHNWH
]ERJNRMLKELVWHPRJOLGDSDGQHWH8NORQLWHVYHSUHSUHNH
NDRãWRVXNDPHQMHLJUDQH
%RVDQVNLSUHYRGRULJLQDOQRJXSXWVWYD
%6