23,6
695+$
2YDMVWURMNRULVWLVH]DNRãHQMHWUDYHXGRPDüLQVWYX5H]QL
QRåPRUDELWLXSULEOLåQRXVSRUHGQRPSRORåDMXXRGQRVXQD
WOR6YDþHWLULNRWDþDPRUDMXGRGLULYDWLWORGRNNRVLWH
35(*/('
6OLND
3UHNLGDþQDUXþNL
*XPE]DSRNUHWDQMH
*RUQMDUXþND
'RQMDUXþND
9UDWDVWUDåQMHJLVSXVWD
3ROXJD]DSRGHãDYDQMHYLVLQH
3RNORSDFSUHWLQFD]DEDWHULMH
+YDWDþWUDYH
=DWYDUDþ]DPDOþLUDQMH
%RþQLL]OD]QLQDVWDYDN
5HJXODWRUEU]LQHVDPRKRGQRJSRJRQD
3ROXJDVDPRKRGQRJSRJRQD
2NUHWQLJXPEGRQMDUXþND
SRGHVLYDSRORåDMDGRQMDUXþND
9LMDNJRUQMDUXþND
2NUHWQLJXPEJRUQMDUXþND
âLSND]DYUDWDãFD
.XNDKYDWDþDWUDYH
%DWHULMVNLPRGXO
6LJXUQRVQLNOMXþ
0DWLþQLYLMDNQRåD
2GVWRMQLN
1Rå
6$'5ä$-3$.,5$1-$
.RVLOLFD]DWUDYQMDN
+YDWDþWUDYH
%RþQLL]OD]QLQDVWDYDN
.RULVQLþNLSULUXþQLN
23û$35$9,/$2
6,*851267,
832=25(1-(
3DåOMLYRSURþLWDMWHSULMHXSRWUHEHýXYDMWHRYDMSULUXþQLN]D
EXGXüXXSRWUHEX
2%8.$
3R]RUQRSURþLWDMWHXSXWH
8SR]QDMWHVHVXSUDYOMDþNLP
HOHPHQWLPDLSURSLVQRP
XSRUDERPVWURMD
1HGR]YROLWHNRULãWHQMHVWURMD
GMHFLRVREDPDVDVPDQMHQLP
IL]LþNLPRVMHWLOQLPLOL
PHQWDOQLPVSRVREQRVWLPD
QHLVNXVQLPLQHXNLPRVREDPD
LOLRVREDPDNRMHVHQLVX
XSR]QDOHVRYLPXSXWDPD
/RNDOQLSURSLVLPRJX
RJUDQLþDYDWLVWDURVQXGRE
UXNRYDWHOMD
,PDMWHQDXPXGDMHUXNRYDWHOM
LOLNRULVQLNRGJRYRUDQ]D
QHVUHüHLOLRSDVQRVWL]DGUXJH
RVREHLOLQMLKRYXLPRYLQX
6WURMHPQLNDGDQHUXNXMWHNDGD
VHXEOL]LQLQDOD]HRVREHD
SRVHEQRGMHFDLOLNXüQL
OMXELPFL
35,35(0$
=DYULMHPHUDGDVWURMHPQRVLWH
þYUVWXREXüXLGXJDþNHKODþH
1HPRMWHNRULVWLWLVWURM
ERVRQRJLLOLVRWYRUHQLP
VDQGDODPD,]EMHJDYDMWH
QRãHQMHãLURNHRGMHüHLNRMDQD
VHELLPDNRQRSFHLOLYH]LFH
+UYDWVNL
+5