hr
'RGDWQRSXQMHQMH!
,]UDþXQSXQMHQMDUDVKODGQLPVUHGVWYRP
Ve
OLþLQD
FLMHYL
&LMHY]D
WHNXüLQX
+
9HOLþLQD
FLMHYL
&LMHY]D
WHNXüLQX
+
9HOLþLQD
FLMHYL
&LMHY]D
WHNXüLQX
+
8NXSQLNDSDFLWHW
SULNOMXþHQLKXQX
-
WDUQMLKMHGLQLFD
.ROLþLQD]D
XQXWDUQMH
MHGLQLFH
¡
ø9,52
ø12,7
±N:
NJ
PîJP
PîJP
PîJP
N:±N:
NJ
N:±N:
NJ
N:±N:
NJ
N:±N:
NJ
N:±N:
NJ
N:±N:
NJ
N:±
NJ
8NOMXþHQDNROLþLQDUDVKODGQRJVUHGVWYDSULOLNRPRWSUHPHL]WYRUQLFH
1D]LYPRGHOD
8NOMXþHQDNROLþLQDUDVKODGQRJ
VUHGVWYD
PUMY-P250YBM
NJ
PUMY-P300YBM
3ULPMHU!
0RGHOYDQMVNHMHGLQLFH380<3<%0
$¡P
8QXWDUQMDMHGLQLFD3N:
D¡P
3N:
E¡P
3N:
F¡P
3N:
G¡P
3N:
H¡P
8NXSQDMHGXOMLQDVYDNHFLMHYL]DWHNXüLQXNDNRVOLMHGL
¡$DEFG P
¡H P
8NXSQLMHNDSDFLWHWSULNOMXþHQHXQXWDUQMHMHGLQLFHNDNRVOLMHGL
N:
3ULPMHUL]UDþXQD!
'RGDWQRSXQMHQMHUDVKODGQLPVUHGVWYRP
î
50,0
î
19,0
NJ]DRNUXåHQR
1000
1000
'RGDWQRSXQMHQMHUDVKODGQLPVUHGVWYRP
6NXSOMDQMHUDVKODGQRJVUHGVWYDFUSOMHQMH
,]YHGLWHVOMHGHüHSRVWXSNHGDELVWHSRNXSLOLUDVKODGQRVUHGVWYRSULOLNRP
SRPLFDQMDXQXWDUQMHMHGLQLFHLOLYDQMVNHMHGLQLFH
1
,VNOMXþLWHSUHNLGDþVWUXMQRJNUXJD
2
3ULNOMXþLWHQLVNRWODþQXVWUDQXPMHUQRJUD]YRGQLNDQDVHUYLVQLSULNOMXþDN
]DSRUQRJYHQWLODSOLQVNHVWUDQH
3
=DWYRULWH]DSRUQLYHQWLO]DWHNXüLQX
4
1DSDMDQMHSUHNLGDþVWUXMQRJNUXJD
3RNUHWDQMHXQXWDUQMHYDQMVNHNRPXQLNDFLMHWUDMHRWSULOLNHPLQXWHQDNRQ
ãWRXNOMXþLWHQDSDMDQMHSUHNLGDþVWUXMQRJNUXJD3RþQLWHSRVWXSDNFUSOMHQMD
GRPLQXWHQDNRQãWR8./-8ý,7(QDSDMDQMHSUHNLGDþVWUXMQRJNUXJD
5
,]YHGLWHSUREQLUDG]DUDGQMXKODÿHQMD6:8./-8ý(12L6:
,6./-8ý(12.RPSUHVRUYDQMVNDMHGLQLFDLYHQWLODWRULXQXWDUQMDL
YDQMVNDMHGLQLFDSRþLQMXUDGLWLLSRþLQMHSUREQLUDG]DUDGQMXKODÿHQMD
1DNRQRWSULOLNHSHWPLQXWDUDGQMHKODÿHQMDSURPLMHQLWHYDQMVNXVHUYLVQX
VNORSNX6:VNORSND]DFUSOMHQMHL]SRORåDMD,6./-8ý(12X
8./-8ý(12
*
$NRMHSUHNLGDþ6:SRVWDYOMHQXSRORåDM8./-8ý(12QHUDGLWHGXJR
6YDNDNRMHSRVWDYLWHXSRORåDM,6./-8ý(12QDNRQ]DYUãHWNDFUSOMHQMD
*
3RVWDYLWH6:XSRORåDM8./-8ý(12VDPRDNRMHMHGLQLFD
]DXVWDYOMHQD0HÿXWLPLDNRMHMHGLQLFD]DXVWDYOMHQDD6:SRVWDYOMHQX
SRORåDM8./-8ý(12PDQMHRGPLQXWHQDNRQãWRVHNRPSUHVRU]DXVWDYL
QHPRåHVHL]YHVWLSRVWXSDNVNXSOMDQMDUDVKODGQRJVUHGVWYD
3ULþHNDMWHGRNNRPSUHVRUQLMH]DXVWDYOMHQPLQXWHLSRQRYQRSRVWDYLWH
6:XSRORåDM8./-8ý(12
6
8SRWSXQRVWL]DWYRULWH]DSRUQLYHQWLO]DSOLQNDGDRþLWDQMHWODNDQDPMHUDþX
SDGQHQDYULMHGQRVW±03DSULEOLåQR±NJIFP
2
7
=DXVWDYLWHUDGNOLPDWL]DFLMVNRJXUHÿDMD6:,6./-8ý(123URPLMHQLWH
YDQMVNXVHUYLVQXVNORSNX6:L]SRORåDMD8./-8ý(12X,6./-8ý(12
8
,VNOMXþLWHQDSDMDQMHSUHNLGDþVWUXMQRJNUXJD
*
$NRMHXVXVWDYNOLPDWL]DFLMVNRJXUHÿDMDGRGDQRSUHYLãHUDVKODGQRJVUHGVWYD
WODNVHPRåGDQHüHVSXVWLWLQDYULMHGQRVWRG03DNJIFP
2
8WRP
VOXþDMXXSRWULMHELWHXUHÿDM]DL]YODþHQMHUDVKODGQRJVUHGVWYDNDNRELVWHL]YXNOL
XFLMHORVWLUDVKODGQRVUHGVWYRL]VXVWDYDD]DWLPQDSXQLWHVXVWDYWRþQRP
NROLþLQRPUDVKODGQRJVUHGVWYDQDNRQãWRVHXQXWDUQMDLYDQMVNDMHGLQLFD
SUHPMHVWH
8SR]RUHQMH
3ULOLNRPFUSOMHQMDUDVKODGQRJVUHGVWYD]DXVWDYLWHNRPSUHVRUSULMHRGVSD
MDQMDFLMHYL]DUDVKODGQRVUHGVWYR.RPSUHVRUPRåHSUVQXWLLSURX]URþLWL
R]OMHGHRVREDDNRVWUDQHWYDULSRSXW]UDNDXÿXXVXVWDY
,]UDþXQGRGDWQRJSXQMHQMDUDVKODGQLP
VUHGVWYRP
'RGDWQRSXQMHQMHUDVKODGQLPVUHGVWYRP
5DVKODGQRVUHGVWYR]DSURãLUHQHFLMHYLQLMHXNOMXþHQRVYDQMVNRPMHGLQLFRP
NDGDVHMHGLQLFDRWSUHPDL]WYRUQLFH6WRJDSXQLWHVYDNLVXVWDYFLMHYLV
UDVKODGQLPVUHGVWYRPGRGDWQLPUDVKODGQLPVUHGVWYRPQDPMHVWXSRVWDYOMDQMD
2VLPWRJDGDELVWHL]YHOLVHUYLVXSLãLWHYHOLþLQXLGXOMLQXVYDNHFLMHYLV
WHNXüLQRPLNROLþLQXGRGDWQRJSXQMHQMDUDVKODGQLPVUHGVWYRPXSROMD
SUHGYLÿHQDQDSORþLFLÄ.ROLþLQDUDVKODGQRJVUHGVWYD´QDYDQMVNRMMHGLQLFL
.DGDVHMHGLQLFD]DXVWDYLQDSXQLWHMHGLQLFXGRGDWQLPUDVKODGQLPVUHGVWYRP
NUR]]DSRUQLYHQWLO]DWHNXüLQXQDNRQãWRSURãLUHQMDFLMHYLLXQXWDUQMXMHGLQLFX
RVXãLWHYDNXXPRP
.DGDMHGLQLFDUDGLGRGDMWHUDVKODGQRVUHGVWYR]DSRUQRPYHQWLOX]DSOLQNRUL
-
VWHüLVHVLJXUQRVQLPSXQMDþHP1HGRGDMLWHWHNXüHUDVKODGQRVUHGVWYRL]UDYQR
XQHSRYUDWQLYHQWLO
,]UDþXQGRGDWQRJSXQMHQMDUDVKODGQLPVUHGVWYRP
•
,]UDþXQDMWHGRGDWQRSXQMHQMHNRULVWHüLVHYHOLþLQRPLGXOMLQRPFLMHYL]D
WHNXüLQXLXNXSQLPNDSDFLWHWRPSULNOMXþHQLKXQXWDUQMLKMHGLQLFD
•
,]UDþXQDMWHGRGDWQRSXQMHQMHUDVKODGQLPVUHGVWYRPVOXåHüLVHSRVWXSNRP
SULND]DQLP]GHVQDLQDSXQLWHGRGDWQLPUDVKODGQLPVUHGVWYRP
•
.DGDMHULMHþRNROLþLQDPDPDQMLPDRGNJ]DRNUXåLWHL]UDþXQDWRGRGDWQR
SXQMHQMHUDVKODGQLPVUHGVWYRP
1DSULPMHUDNRMHL]UDþXQDWRSXQMHQMHNJ]DRNUXåLWHQDNJ
•
.ROLþLQDGRGDWQRJUDVKODGQRJVUHGVWYDNRMDVHL]UDþXQDYDL]XNXSQRJ
NDSDFLWHWDXQXWDUQMLKMHGLQLFDLNRPELQDFLMHSURGXåHQLKFLMHYLQHVPLMHELWL
YHüDRGNJ
3RJOHGDMWHNDSDFLWHWQDXQXWDUQMLPMHGLQLFDPDLSURGXåHQLPFLMHYLPDX
SULUXþQLNXQDPUHåQRPPMHVWX
•
2YDMXUHÿDMNRULVWLVHUDVKODGQLPVUHGVWYRP5$
•
&LMHYL]DVXVWDYHNRMLVHNRULVWHUDVKODGQLPVUHGVWYRP5$PRJXELWL
GUXNþLMHRGVXVWDYDNRMLVHNRULVWHNRQYHQFLRQDOQLPUDVKODGQLPVUHGVWYRP
]DWRãWRMHSURMHNWQLWODNXVXVWDYLPDNRMLVHNRULVWHUDVKODGQLPVUHGVWYRP
5$YLãL3RJOHGDMWHSRGDWNRYQXNQMLJXUDGLYLãHLQIRUPDFLMD
•
1HNLRGDODWDLRSUHPHNRMLVHXSRWUHEOMDYDMX]DSRVWDYOMDQMHVDVXVWDYLPD
NRMLVHNRULVWHGUXJLPYUVWDPDUDVKODGQRJVUHGVWYDQHPRJXVH
XSRWUHEOMDYDWLVDVXVWDYLPDNRMLVHNRULVWHUDVKODGQLPVUHGVWYRP5$
3RJOHGDMWHSRGDWNRYQXNQMLJXUDGLYLãHLQIRUPDFLMD
2SUH]
•
1HLVSXãWDMWH5$XDWPRVIHUX
2SURL]YRGX
8XYMHWLPDX
QDVWDYNX