3015s Siemens_gigaset_3015_classic Siemens Gigaset 3015 Classic

User Manual: siemens_gigaset_3015_classic

Open the PDF directly: View PDF .
Page Count: 70

Download
Open PDF In Browser	View PDF

*LJDVHW



  

&ODVVLF

%HGLHQXQJVDQOHLWXQJ
XQG6LFKHUKHLWVKLQZHLVH



8

*LJDVHW&ODVVLF,QODQG$*%

XPVFKOBYIP



$OOJHPHLQHV

$OOJHPHLQHV
6LFKHUKHLWVKLQZHLVH
● 9HUZHQGHQ6LHQXUGDVPLWJHOLHIHUWH6WHFNHUQHW]JHU¾WZLHDXIGHU8QWHUVHLWHGHV*HU¾WHV

JHNHQQ]HLFKQHW

● %LWWHYHUZHQGHQ6LHDXINHLQHQ)DOOQRUPDOH QLFKWDXIODGEDUH %DWWHULHQVRQGHUQQXUGLH]X

JHODVVHQHQ$NNXVGHVJOHLFKHQ7\SV DXIODGEDU VRQVWNDQQJJIGHU%DWWHULHPDQWHO]HU
VWÐUWZHUGHQ JHI¾KUOLFK VLHKH7DEHOOH6HLWH

● 0HGL]LQLVFKH*HU¾WHNÐQQHQLQLKUHU)XQNWLRQEHHLQIOX¹WZHUGHQ
● 'DV0RELOWHLONDQQLQ+ÐUJHU¾WHQHLQHQXQDQJHQHKPHQ%UXPPWRQ

YHUXUVDFKHQ

● %DVLVVWDWLRQQLFKWLQ%DGRGHU'XVFKU¾XPHQDXIVWHOOHQ
● 7HOHIRQQLFKWLQH[SORVLRQVJHI¾KUGHWHQ8PJHEXQJHQ ]%/DFNLHUHUHLHQ QXW]HQ
● $NNXVXQG7HOHIRQQXUXPZHOWJHUHFKWHQWVRUJHQ
● *HEHQ6LH,KU*LJDVHWQXUPLWGHU%HGLHQXQJVDQOHLWXQJDQ'ULWWHZHLWHU
● ,QGHQ$NNXI¾FKHUQGHV0RELOWHLOVVLQGIROJHQGH+LQZHLVVFKLOGHUDQJHEUDFKW


+

_
:LHGHUDXIODGEDUH$NNXVULFKWLJJHSROWHLQOHJHQ

$NNXW\SJHP¾¹GLHVHU%HGLHQXQJVDQOHLWXQJYHUZHQGHQ

'LVSOD\6\PEROH


6WDWLRQVV\PERO

¥

/DGH]XVWDQGVDQ]HLJH

ª

%ULHINDVWHQIXQNWLRQ
1HXH1XPPHUQLQ$QUXIHUOLVWH

C

$EKHEHQ

(;7 ([WHUQH9HUELQGXQJ
,17

£


ˆ

,QWHUQH9HUELQGXQJ

1

3DXVH

_

/HHU]HLFKHQ

J

6WHUQ7DVWH ~



5DXWH7DVWH }

P

6LJQDO7DVWH4

1GJ

7HOHIRQ3,1(LQJDEH

____ 7DVWHQVFKXW]

0RELOWHLOJHVSHUUW
1HXH1DFKULFKWDXIGHP$QUXI
EHDQWZRUWHU

Ž

$XVZ¾KOHQLQGHU
/LVWHPLWz



$XVZ¾KOHQLQGHU
/LVWHPLW-





8

1XPGLH$XVZDKO

]XEHVW¾WLJHQ

*LJDVHW&ODVVLF,QODQG$*%

XPVFKOBYIP



$OOJHPHLQHV

.XU]ÖEHUVLFKW0RELOWHLO*LJDVHW&ODVVLF
6WDWLRQVV\PERO
/DGH]XVWDQG

r GDXHUQGZDKO
HPSIDQJVEHUHLW
r EOLQNWNHLQ.RQWDNW]XU
%DVLVVWDWLRQ

¤ YROO
§ OHHU
:DKOZLHGHUKROHQ

.XU]ZDKO
DXIUXIHQ

,QWHUQWHOHIRQLHUHQ

¤

(LQVWHOOHQ
r]XP6SHLFKHUQ
rIÖU(LQVWHOOXQJHQ

$EKHEHQ
r *HVSU¾FK
DQQHKPHQ
r 5XIQXPPHUZ¾KOHQ

$XIOHJHQ
r *HVSU¾FKEHHQGHQ
r (LQ$XV
ODQJGUÖFNHQ
r ]XP$EEUHFKHQYRQ
)XQNWLRQHQ

7DVWHQVFKXW]
HLQDXV
ODQJGUÖFNHQ
=HLFKHQOÐVFKHQ

6LJQDO7DVWH
r IÖU7'LHQVWHXQG
7HOHIRQDQODJHQ
r :DKOSDXVH
ODQJGUÖFNHQ

'LVSOD\7DVWHQ
:HUGHQÖEHUGHQ7DVWHQLP'LVSOD\6\PEROHDQJH]HLJWKDEHQVLHIROJHQGH%HGHXWXQJ

Ž





$XIZ¾UWVEO¾WWHUQ

%HVW¾WLJHQ

$EZ¾UWVEO¾WWHUQ

7DVWHQDXIGHU%DVLVVWDWLRQ
1DFKULFKWHQZLHGHUJHEHQ
=XUQ¾FKVWHQ1DFKULFKW
=XUYRULJHQ1DFKULFKW
$QVDJH,QIRUPDWLRQDXI
QHKPHQ
/DXWVSUHFKHUODXW

$QVDJH7DVWH
$QVDJH1DFKULFKWHQ
,QIRUPDWLRQHQOÐVFKHQ
3DXVH6723
/DXWVSUHFKHUOHLVH
3DJLQJWDVWH

$QUXIEHDQWZRUWHU7DVWH



8

*LJDVHW&ODVVLF,QODQG$*%

XPVFKOBYIP

$OOJHPHLQHV

.XU]DQOHLWXQJ
(LQVWHOOXQJHQVLHKH¶EHUVLFKWDXIGHU5ÖFNVHLWHGHU%HGLHQXQJVDQOHLWXQJ
)XQNWLRQ

7DVWHQIROJH

0RELOWHLO
HLQDXVVFKDOWHQ

€ 6HNXQGHODQJGUÖFNHQ

7DVWHQVFKXW]
HLQDXVVFKDOWHQ

} 6HNXQGHODQJGUÖFNHQ

([WHUQDQUXIHQ

PD

:DKOZLHGHUKROHQ

1 JJI a D

.XU]ZDKOQXPPHU
VSHLFKHUQ

z - ] % s b P b €

0LW.XU]ZDKOZ¾KOHQ

- a RGHU] % · D

0LW$QUXIOLVWHZ¾KOHQ

zsaD

+ÐUHUODXWVW¾UNH
HLQVWHOOHQ

z ¸ ¨ b ] % s b

0LNURIRQ
VWXPPVFKDOWHQ

{ 0LNURIRQVWXPP4 0LNURIRQZLHGHUDQ

,QWHUQDQUXIHQ

{ ] % ·

5XIDQDOOH0RELOWHLOH

{~

*HVSU¾FKÖEHUJHEHQ
YHUELQGHQ

{ ] % s €

,QWHUQH5ÖFNIUDJH

{ ] % s 5ÖFNIUDJHEHHQGHQ 4

'DWXPHLQVWHOOHQ

z ¨y b 'DWXPHLQVWHOOHQ b

8KU]HLWHLQVWHOOHQ

z ¨  b 8KU]HLWHLQVWHOOHQ b

1DFKULFKWHQDQKÐUHQ

{sRGHU7DVWH” %DVLVVWDWLRQ

(LQ]HOQHDOWH
1DFKULFKWHQOÐVFKHQ

$XI%DVLVVWDWLRQ–Z¾KUHQGGHU:LHGHUJDEH

$OOHDOWHQ1DFKULFKWHQ
OÐVFKHQ

$XI%DVLVVWDWLRQ– “



8



*LJDVHW&ODVVLF,QODQG$*%

V,9=IP



,QKDOWVYHU]HLFKQLV

,QKDOWVYHU]HLFKQLV
6WLFKZRUWYHU]HLFKQLV

$OOJHPHLQHV 
6LFKHUKHLWVKLQZHLVH 
'LVSOD\6\PEROH  
.XU]ÖEHUVLFKW0RELOWHLO*LJDVHW&ODVVLF
7DVWHQDXIGHU%DVLVVWDWLRQ 
.XU]DQOHLWXQJ  

7HOHIRQYRUEHUHLWHQ 
9HUSDFNXQJVLQKDOWÖEHUSUÖIHQ
%DVLVVWDWLRQDXIVWHOOHQDQVFKOLH¹HQ 
$NNXVHLQOHJHQODGHQ
*ÖUWHOFOLSEHIHVWLJHQ 
0RELOWHLOHLQDXVVFKDOWHQ 
7DVWHQVFKXW]HLQDXVVFKDOWHQ
'DWXP8KU]HLWHLQVWHOOHQ 
$QUXIEHDQWZRUWHUHLQDXVVFKDOWHQ 

7HOHIRQLHUHQ  
([WHUQDQUXIHQ  
,QWHUQDQUXIHQ  
$QUXIDQQHKPHQ 
$Q]HLJHGHUHLQJHKHQGHQ5XIQXPPHU &/,3 
0LNURIRQVWXPPVFKDOWHQ 
*HVSU¾FKYRP$QUXIEHDQWZRUWHUÖEHUQHKPHQ
0RELOWHLOGLUHNWDQUXIHQ 'XUFKZDKO 
$QUXIÖEHUQHKPHQ &DOO3LFNXS 
'XUFKVDJHDXVIÖKUHQ 
)D[DQUXIH 
0RELOWHLOVXFKHQ 3DJLQJ 

.RPIRUWDEHOWHOHIRQLHUHQ  
:DKOZLHGHUKROXQJ 
.XU]ZDKO  
$QUXIHUOLVWH%ULHINDVWHQIXQNWLRQ 
$QGHU%DVLVPLWKÐUHQ 
([WHUQHV*HVSU¾FKDXIQHKPHQ 0LWVFKQHLGHQ 



*LJDVHW&ODVVLF,QODQG$*%

V,9=IP



,QKDOWVYHU]HLFKQLV

.RVWHQEHZX¹WWHOHIRQLHUHQ 
&DOOE\&DOO8QWHUVWÖW]XQJ 
*HVSU¾FKVGDXHUDQ]HLJHQ 
*HVSU¾FKVNRVWHQDQ]HLJHQ
7DVFKHQJHOGNRQWR  

$QUXIEHDQWZRUWHU 
%HGLHQXQJPLWGHU%DVLVVWDWLRQ
%HGLHQXQJPLWGHP0RELOWHLO 
9RQXQWHUZHJVEHGLHQHQ )HUQDEIUDJH 

$QUXIEHDQWZRUWHU
LQGLYLGXHOOHLQVWHOOHQ  
$Q]DKOGHU5XIWÐQH *HEÖKUHQVSDUIXQNWLRQ 
1DFKULFKWHQO¾QJH  
3DXVHQDFK:LHGHUJDEHHLQHU1DFKULFKW
=HLWDQJDEHIÖUMHGH1DFKULFKW
0LWKÐUHQDQGHU%DVLV 
'XUFKVDJH 'LUHNWDQVSUHFKHQ 
$XI]HLFKQXQJVTXDOLW¾W 

0RELOWHLOLQGLYLGXHOOHLQVWHOOHQ 
5XIWRQODXWVW¾UNHHLQVWHOOHQ 
5XIWRQPHORGLHHLQVWHOOHQ
+ÐUHUODXWVW¾UNHHLQVWHOOHQ
7ÐQHHLQDXVVFKDOWHQ 
$Q]HLJHGHU%DVLVVWDWLRQHLQDXVVFKDOWHQ 
$XWRPDWLVFKH5XIDQQDKPH 
,QGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQ 
$QZHLWHUHQ%DVLVVWDWLRQHQDQPHOGHQ 
%DVLVVWDWLRQZHFKVHOQ 

%DVLVVWDWLRQHLQVWHOOHQ  
5XIWRQODXWVW¾UNHHLQVWHOOHQ 
5XIWRQPHORGLHHLQVWHOOHQ
7DVWHQNOLFNHLQVWHOOHQ 
:DUWHPHORGLHHLQDXVVFKDOWHQ 
3DXVHQ]HLWHQHLQVWHOOHQ 
,QGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQ 



*LJDVHW&ODVVLF,QODQG$*%

V,9=IP



,QKDOWVYHU]HLFKQLV

6LFKHUKHLWDP0RELOWHLO  
7HOHIRQ3,1¾QGHUQ  
'LUHNWUXIHLQVFKDOWHQ 
7HOHIRQVSHUUHHLQVFKDOWHQ 
1RWUXIQXPPHUZ¾KOHQ 
7HOHIRQVSHUUH'LUHNWUXIDXVVFKDOWHQ 

6LFKHUKHLWDQGHU%DVLVVWDWLRQ 
6\VWHP3,1GHU%DVLVVWDWLRQ¾QGHUQ 
6\VWHPVSHUUHHLQDXVVFKDOWHQ 
5XIQXPPHUQVSHUUHQ]XODVVHQ 
1RWUXIQXPPHUQVSHLFKHUQ 

0HKUHUH0RELOWHLOHQXW]HQ  
:HLWHUH0RELOWHLOHDQPHOGHQ 
,QWHUQDQUXIHQ  
*HVSU¾FKZHLWHUJHEHQ 
,QWHUQH5ÖFNIUDJH  
$QNORSIHQGHQ$QUXIDQQHKPHQ
5XIDQDOOH 6DPPHOUXI 
0RELOWHLO1XPPHUDQ]HLJHQ 
$P0RELOWHLOPLWKÐUHQ 
0RELOWHLOHDEPHOGHQ 
([WHUQH:DKOLQGLYLGXHOOVSHUUHQ 
)D[0RGHPDQVFKOLH¹HQ 
5XIWRQHLQDXVVFKDOWHQ 
5XIYHU]ÐJHUXQJ6DPPHOUXI'XUFKZDKOHLQVWHOOHQ 

$Q7HOHIRQDQODJHDQVFKOLH¹HQ  
:DKOYHUIDKUHQHLQVWHOOHQ 
$XI7RQZDKOXPVFKDOWHQ 
([WHUQ.HQQ]DKOVSHLFKHUQ 
3DXVHQDFK([WHUQ.HQQ]DKO 

$QKDQJ  
3IOHJH  
6HOEVWKLOIHEHL6WÐUXQJHQ 
*DUDQWLH6HUYLFH=XODVVXQJ 

$QUXIEHDQWZRUWHU)HUQEHGLHQXQJ
(LQVWHOOXQJHQr¶EHUVLFKW  8PVFKODJ


*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ

7HOHIRQYRUEHUHLWHQ
9HUSDFNXQJVLQKDOWÖEHUSUÖIHQ
'LH9HUSDFNXQJHQWK¾OW
● HLQH%DVLVVWDWLRQ*LJDVHW
● HLQ0RELOWHLO*LJDVHW&ODVVLF
● HLQ6WHFNHUQHW]JHU¾W
● HLQ7HOHIRQNDEHO
● HLQHQ*ÖUWHOFOLSIÖUGDV0RELOWHLO
● ]ZHL$NNXV
● HLQH%HGLHQXQJVDQOHLWXQJ*LJDVHW&ODVVLF

%DVLVVWDWLRQDXIVWHOOHQDQVFKOLH¹HQ
+LQZHLVH]XP$XIVWHOOHQ

-

r 'LH%DVLVVWDWLRQLVWIÖUGHQ%HWULHELQJHVFKÖW]WHQ5¾XPHQPLW
HLQHP7HPSHUDWXUEHUHLFKYRQŠ&ELVŠ&DXVJHOHJW
r 6WHOOHQ6LHGLH%DVLVVWDWLRQDQHLQHU]HQWUDOHQ6WHOOHGHU:RKQXQJ
GHV+DXVHVDXI] %LP)OXU

/

r %HWUHLEHQ6LHGLH%DVLVVWDWLRQQLFKWLP%DGRGHULQ'XVFKU¾XPHQ
r 'DV0RELOWHLOQLFKWLQH[SORVLRQVJHI¾KUGHWHQ8PJHEXQJHQEHWUHL
EHQZLH] %LQHLQHU/DFNLHUHUHL

5HLFKZHLWH
'LH5HLFKZHLWHEHWU¾JWLPIUHLHQ*HO¾QGHELV]XP,Q*HE¾XGHQZHUGHQ
5HLFKZHLWHQELVPHUUHLFKW'DV6WDWLRQVV\PERO]HLJWRE)XQNNRQWDNW]ZL
VFKHQ%DVLVVWDWLRQXQG0RELOWHLOEHVWHKW






6WDWLRQVV\PEROZLUGGDXHUQGDQJH]HLJW
'DV0RELOWHLOLVWEHUHLW]XP:¾KOHQXQG]XP(PSIDQJYRQ$QUXIHQ
6WDWLRQVV\PEROEOLQNW
.HLQ)XQNNRQWDNW]ZLVFKHQ0RELOWHLOXQG%DVLVVWDWLRQrNHLQ:¾KOHQ
RGHU$QUXIHQPÐJOLFK

*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ

%DVLVVWDWLRQDQVFKOLH¹HQ
9HUZHQGHQ6LHQXUGDVPLWJHOLHIHUWH6WHFNHUQHW]JHU¾WZLHDXI
GHU8QWHUVHLWHGHU%DVLVVWDWLRQJHNHQQ]HLFKQHW



7HOHIRQVWHFNHU 
PLW7HOHIRQNDEHO

9

● .OHLQHQ6WHN

NHUGHV7HOH
IRQNDEHOVLQ
%XFKVH;
VWHFNHQ UDVWHW
HLQ 
● .DEHOLQ.DEHO
VFKDFKWHLQOH
JHQ
● 7HOHIRQVWHFNHU
LQ7HOHIRQGRVH
VWHFNHQ

6WHFNHUQHW]JHU¾W
PLW1HW]NDEHO

.DEHONDQ¾OH

8QWHUVHLWHGHU
%DVLVVWDWLRQ



● .OHLQHQ6WHFNHUGHV1HW]NDEHOVLQ
%XFKVHVWHFNHQ
● .DEHOLQ.DEHOVFKDFKWHLQOHJHQ
● 6WHFNHUQHW]JHU¾WLQ6WHFNGRVHVWHFNHQ

$XVIÖKUXQJMHQDFK/DQGXQWHUVFKLHGOLFK



*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ

$NNXVHLQOHJHQODGHQ
®

● 'DVPLWJHOLHIHUWH0RELOWHLOLVWEHUHLWVDQGHU%DVLVVWDWLRQ

DQJHPHOGHW

● :LH6LHZHLWHUH0RELOWHLOHRGHUHUVHW]WH0RELOWHLOH QDFK

5HSDUDWXU DQPHOGHQILQGHQ6LHDXI6HLWH

$NNXVHLQOHJHQ
● %LWWHYHUZHQGHQ6LHDXINHLQHQ)DOOQRUPDOH QLFKWDXIODGEDUH 

%DWWHULHQVRQGHUQQXUGLH]XJHODVVHQHQ$NNXV DXIODGEDU VLHKH
7DEHOOH6HLWH

● 1XU]XJHODVVHQH$NNXVGHVJOHLFKHQ7\SVYHUZHQGHQ
● .HLQHIUHPGHQ$XIODGHJHU¾WHYHUZHQGHQGLH$NNXVNÐQQHQ

EHVFK¾GLJWZHUGHQ

● $NNXVULFKWLJJHSROWHLQOHJHQrVLHKHOLQNHV%LOG
● 'HFNHOHWZDPPQDFKXQWHQYHUVHW]WDXIOHJHQXQGQDFKREHQVFKLHEHQ

ELVHUHLQUDVWHW

● =XP°IIQHQDXIGLH5LIIHOXQJGUÖFNHQXQGQDFKXQWHQVFKLHEHQ



*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ

$NNXVODGHQ
'LHPLWJHOLHIHUWHQ$NNXVVLQGQLFKWJHODGHQ
=XP$XIODGHQGHU$NNXVVWHOOHQ6LHGDV0RELOWHLOLQGLH%DVLVVWDWLRQRGHULQ
GLH/DGHVFKDOH*LJDVHW/ =XEHKÐU rHVHUWÐQWGHU%HVW¾WLJXQJVWRQ
'HU/DGHYRUJDQJZLUGDP0RELOWHLOGXUFK%OLQNHQGHU/DGH]XVWDQGVDQ]HLJH
DQJH]HLJW

§
¦

®

$NNXVOHHU


$NNXV JHODGHQ

¥
¤

$NNXVJHODGHQ
$NNXVYROO

r %HLPHUVWHQ/DGHQHPSIHKOHQZLUHLQHXQXQWHUEURFKHQH/DGXQJYRQ
PLQGHVWHQV6WXQGHQrXQDEK¾QJLJYRQGHU/DGH]XVWDQGVDQ]HLJH
r 1DFKGHPHUVWHQ/DGHYRUJDQJNÐQQHQ6LH,KU0RELOWHLOQDFKMHGHP
*HVSU¾FKZLHGHULQGLH%DVLVVWDWLRQ]XUÖFNVWHOOHQ'DV/DGHQZLUG
HOHNWURQLVFKJHVWHXHUW'DGXUFKZLUGRSWLPDOHVXQGVFKRQHQGHV/D
GHQGHU$NNXVJHZ¾KUOHLVWHW
r 'LH$NNXVHUZ¾UPHQVLFKZ¾KUHQGGHU$XIODGXQJGDVLVWHLQQRUPD
OHU9RUJDQJXQGXQJHI¾KUOLFK
r 'HU/DGH]XVWDQGGHU$NNXVZLUGQXUQDFKHLQHPXQXQWHUEURFKHQHQ
/DGH(QWODGHYRUJDQJULFKWLJDQJH]HLJW6LHVROOWHQGHVKDOEGDV$N
NXIDFKQLFKWXQQÐWLJÐIIQHQ

=XJHODVVHQH$NNXV
1LFNHO&DGPLXP 1L&G

1LFNHO0HWDOO+\GULG 1L0+

6DQ\R18 P$K

6DQ\R+8 P$K

*3*3$$.& P$K

*3*3$$+& P$K

9DUWD56 P$K

*3*3$$+& P$K

0RELOH3RZHU P$K

9DUWD9+RGHU3KRQH3RZHU P$K

3DQDVRQLF'7 P$K

3DQDVRQLF++5$$ P$K
)ULZR1L0+ P$K
7RVKLED7+$$5( P$K

%HWULHEV]HLWHQ/DGH]HLWHQGHV0RELOWHLOV
.DSD]LW¾W
P$K

%HUHLWVFKDIWV]HLW
6WXQGHQ

*HVSU¾FKV]HLW
6WXQGHQ

/DGH]HLW
6WXQGHQ



ELV]X

JUйHU

HWZD



ELV]X

JUйHU

HWZD



ELV]X

JUйHU

HWZD

6WURPYHUEUDXFK
r ,P%HUHLWVFKDIWV]XVWDQG RKQH/DGHQ FD:
r ,P%HUHLWVFKDIWV]XVWDQGZ¾KUHQGGHV/DGHYRUJDQJVFD:



*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ

*ÖUWHOFOLSEHIHVWLJHQ

*ÖUWHOFOLSDXIGHU5ÖFNVHLWHGHV0RELOWHLOVDQGUÖFNHQELVVHLWOLFKH1DVHQLQ
$XVVSDUXQJHQHLQUDVWHQ

0RELOWHLOHLQDXVVFKDOWHQ
€

$XIOHJHQ7DVWH6HNXQGHODQJGUÖFNHQrGHU%HVW¾WLJXQJVWRQ HUWÐQW

®

'DV0RELOWHLOVFKDOWHWVLFKQDFK(LQOHJHQGHU$NNXVXQGPLWGHP+LQ
HLQVWHOOHQLQGLH%DVLVVWDWLRQ/DGHVFKDOHDXWRPDWLVFKHLQ

7DVWHQVFKXW]HLQDXVVFKDOWHQ
6LHNÐQQHQGLH7DVWHQGHV0RELOWHLOVdDXVVFKDOWHQo] %ZHQQ6LHGDV0RELO
WHLOdPLWQHKPHQo8QDEVLFKWOLFKH7DVWHQEHW¾WLJXQJHQEOHLEHQRKQH$XVZLU
NXQJ%HLHLQHP$QUXIGUÖFNHQ6LHGLH$EKHEHQ7DVWHD 
}

=XP(LQ$XVVFKDOWHQ6HNXQGHODQJGUÖFNHQrGHU%HVW¾WLJXQJVWRQ 
HUWÐQW
____

£

'LVSOD\DQ]HLJHEHLHLQJHVFKDOWHWHP
7DVWHQVFKXW]

%HVW¾WLJXQJVWRQ ODQJHU7RQ)HKOHUWRQ NXU]H7ÐQH



*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ
7DVWHQGUÖFNHQ

'DWXP8KU]HLWHLQVWHOOHQ
'DWXPHLQVWHOOHQ
'LH'DWXPVHLQVWHOOXQJLVWQRWZHQGLJGDPLWLQGHU$QUXIHUOLVWHGDV
(LQJDQJVGDWXPDQJH]HLJWXQG]XGHQ1DFKULFKWHQGHV$QUXIEHDQW
ZRUWHUVDXVJHJHEHQZLUG

z¨yb

(LQVWHOOXQJHLQOHLWHQrGLHDNWXHOOH(LQVWHOOXQJZLUGDQJH]HLJWGLHDN
WXHOOH(LQJDEHVWHOOHEOLQNW
] %

(

"

) ))
-DKU
0RQDW
7DJ

] %s¨

7DJHLQJHEHQ
*JIPLW`]XUÖFNVSULQJHQXQGQHXHLQJHEHQ

] %¨

0RQDWHLQJHEHQ

] %

-DKUHLQJHEHQ

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

8KU]HLWHLQVWHOOHQ
'LH8KU]HLWHLQVWHOOXQJLVWQRWZHQGLJGDPLWLQGHU$QUXIHUOLVWHGLH(LQ
JDQJVXKU]HLWDQJH]HLJWZLUGXQG]XGHQ1DFKULFKWHQGHV$QUXIEHDQW
ZRUWHUVDXVJHJHEHQZLUG
z¨b

(LQVWHOOXQJHLQOHLWHQrGLHDNWXHOOH(LQVWHOOXQJZLUGDQJH]HLJWGLHDN
WXHOOH(LQJDEHVWHOOHEOLQNW
] %

)

)°!%
0LQXWHQ
6WXQGHQ

] %¨

6WXQGHQHLQJHEHQ
*JIPLW`]XUÖFNVSULQJHQXQGQHXHLQJHEHQ

] %¸v

0LQXWHQHLQJHEHQ

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

®

1DFK6WURPDXVIDOORGHUQDFK$XVVWHFNHQGHV6WHFNHUQHW]JH
U¾WVGHU%DVLVVWDWLRQPÖVVHQ'DWXPXQG8KU]HLWQHXHLQJH
VWHOOWZHUGHQ



*LJDVHW&ODVVLF,QODQG$*%

YRUEHUHLIP



7HOHIRQYRUEHUHLWHQ
7DVWHQGUÖFNHQ

$QUXIEHDQWZRUWHUHLQDXVVFKDOWHQ
1DFKGHP$QVFKOLH¹HQGHU%DVLVVWDWLRQNÐQQHQ6LHVRIRUWGHQ$QUXI
EHDQWZRUWHUQXW]HQ
=XP(LQVFKDOWHQ

I

$QUXIEHDQWZRUWHU7DVWHDQGHU%DVLVVWDWLRQGUÖFNHQ
'LH7DVWHOHXFKWHW
=XP$XVVFKDOWHQ

I

$QUXIEHDQWZRUWHU7DVWHDQGHU%DVLVVWDWLRQGUÖFNHQ
'LH7DVWHHUOLVFKW



*LJDVHW&ODVVLF,QODQG$*%

WHOHIIP



7HOHIRQLHUHQ
7DVWHQGUÖFNHQ

7HOHIRQLHUHQ
([WHUQDQUXIHQ
([WHUQH$QUXIHVLQG$QUXIHLQV7HOHIRQQHW]

P

5XIQXPPHUHLQJHEHQ
*JIPLW/ÐVFK7DVWH|NRUULJLHUHQ

D

$EKHEHQ7DVWHGUÖFNHQXPGHQ:DKOYRUJDQJ]XVWDUWHQ

€

*HVSU¾FKEHHQGHQ
$XIOHJHQ7DVWHGUÖFNHQ

®

● 6LHNÐQQHQDXFK]XHUVWGLH$EKHEHQ7DVWHDGUÖFNHQ

XQGGDQQGLH5XIQXPPHUHLQJHEHQrMHGH=LIIHUZLUGVRIRUW
JHZ¾KOW

● 0LWGHU$XIOHJHQ7DVWH€NÐQQHQ6LHGHQ:DKOYRUJDQJ

DEEUHFKHQ

● 0LWGHU6LJQDO7DVWH4NÐQQHQ6LHHLQH:DKOSDXVHHLQ

JHEHQ ODQJGUÖFNHQ 

● (LQJDEHQQLFKWVSHLFKHUQ] %EHL6WHXHUXQJYRQH[WHU
QHQ7HOHIRQGLHQVWHQ7DVWHQz ~GUÖFNHQDOOHGDQDFK

HLQJHJHEHQHQ=HLFKHQZHUGHQIÖUGLH:DKOZLHGHUKROXQJ
QLFKWJHVSHLFKHUW

● +ÐUHUODXWVW¾UNHGHV0RELOWHLOVHLQVWHOOHQ DXFKLP*H

VSU¾FKV]XVWDQG VLHKH6HLWH

,QWHUQDQUXIHQ
6LHNÐQQHQPLWELV]X0RELOWHLOHQNRVWHQORVLQWHUQWHOHIRQLHUHQ
{
] %s

€

,QWHUQ7DVWHGUÖFNHQrGLHLQWHUQH5XIQXPPHUGHV0RELOWHLOVZLUGDQ
JH]HLJW
,QWHUQH5XIQXPPHUGHVJHZÖQVFKWHQ0RELOWHLOVHLQJHEHQ
$OOH0RELOWHLOHDQUXIHQ
*HVSU¾FKEHHQGHQ
$XIOHJHQ7DVWHGUÖFNHQ



*LJDVHW&ODVVLF,QODQG$*%

WHOHIIP



7HOHIRQLHUHQ
7DVWHQGUÖFNHQ

$QUXIDQQHKPHQ
%HLHLQHP$QUXIHUWÐQWGHU5XIWRQ

D

$EKHEHQ7DVWHGUÖFNHQ
RGHU

Ÿ ’L

GDV0RELOWHLOQXUDXVGHU%DVLVVWDWLRQQHKPHQGLHd$XWRPDWLVFKH
5XIDQQDKPHoLVWHLQJHVFKDOWHW VLHKH/LHIHU]XVWDQGDXI6HLWH 

®

+ÐUHUODXWVW¾UNHGHV0RELOWHLOVHLQVWHOOHQ DXFKLP*HVSU¾FKV
]XVWDQG VLHKH6HLWH

$Q]HLJHGHUHLQJHKHQGHQ5XIQXPPHU
&/,3
)DOOVGHU1HW]EHWUHLEHUGLH5XIQXPPHUQDQ]HLJH &/,3 XQWHUVWÖW]W
ZLUGGLH5XIQXPPHUGHV$QUXIHUVXQG(;7DP'LVSOD\GHV0RELOWHLOV
DQJH]HLJW
] %

$)()'""$$&&'
5HD

¤

RGHU
XQG(;7ZHQQ1XPPHUQLFKWHPSIDQJHQZXUGHE]Z
XQG(;7ZHQQ1XPPHUYRP$QUXIHUXQWHUGUÖFNWZXUGH
RGHU
,QWHUQH5XIQXPPHUHLQHVDQGHUHQ0RELOWHLOVXQG,17

0LNURIRQVWXPPVFKDOWHQ
%HLH[WHUQHQ*HVSU¾FKHQNÐQQHQ6LH,KU0LNURIRQDEVFKDOWHQXPVLFK
]%PLWMHPDQGDQGHUHPLP5DXP]XXQWHUKDOWHQ'HU7HOHIRQSDUWQHU
KÐUWZ¾KUHQGGLHVHU=HLWQLFKWPHKUPLW



{

0LNURIRQVWXPPVFKDOWHQrGHU7HOHIRQSDUWQHUKÐUWGLH:DUWHPHORGLH

4

0LNURIRQZLHGHUHLQVFKDOWHQ

*LJDVHW&ODVVLF,QODQG$*%

WHOHIIP



7HOHIRQLHUHQ
7DVWHQGUÖFNHQ

*HVSU¾FKYRP$QUXIEHDQWZRUWHU
ÖEHUQHKPHQ
:¾KUHQGGHU$XI]HLFKQXQJHLQHU1DFKULFKWNÐQQHQ6LHPLWHLQHP0R
ELOWHLOGDV*HVSU¾FKÖEHUQHKPHQ

D

$EKHEHQ7DVWHGUÖFNHQ
'LH$XI]HLFKQXQJZLUGEHHQGHWXQGVLHNÐQQHQPLWGHP$QUXIHUVSUH
FKHQ

0RELOWHLOGLUHNWDQUXIHQ 'XUFKZDKO
:HQQ6LHGLH)XQNWLRQ'XUFKZDKO VLHKH6 HLQJHVWHOOWKDEHQ
NDQQHLQH[WHUQHU$QUXIHULP$QVFKOX¹DQ,KUH5XIQXPPHUGLHLQWHUQH
5XIQXPPHUHLQHV0RELOWHLOVZ¾KOHQ
1DFKGHU:DKO,KUHU5XIQXPPHUKÐUWGHUH[WHUQH$QUXIHUXQDEK¾Q
JLJYRQGHU(LQVWHOOXQJ,KUHV$QUXIEHDQWZRUWHUVGLHDXIJHVSUR
FKHQH+LQZHLVDQVDJH VLHKH6 

®

(LQHW\SLVFKH+LQZHLVDQVDJHLQ9HUELQGXQJPLWGHU'XUFK
ZDKOLVW]%
d:¾KOHQ6LHIÖU+HUUQ0ÖOOHUGLHIÖU)UDX0HLHUGLHIÖUGDV
6HNUHWDULDWGLH:HQQ6LHNHLQHQEHVWLPPWHQ*HVSU¾FKV
SDUWQHUVSUHFKHQPÐFKWHQZ¾KOHQ6LHGDV6\PERO o

+DEHQ6LHNHLQH+LQZHLVDQVDJHDXIJHQRPPHQKÐUWGHU$QUXIHUGLH
6WDQGDUGDQVDJHd%LWWH7HLOQHKPHUUXIHQo

$QVFKOLH¹HQGNDQQHULQQHUKDOEYRQ6HNXQGHQGLHLQWHUQH5XIQXP
PHUHLQHV0RELOWHLOVZ¾KOHQ
1LPPWGHUJHZÖQVFKWH7HLOQHKPHUGDV*HVSU¾FKQLFKWDQZLUGGHU
$QUXIQDFKPHKUPDOLJHP.OLQJHOQ (LQVWHOOXQJGHU5XIWRQYHU]ÐJHUXQJ
VLHKH6HLWH DOV6DPPHOUXIDQDOOHQ0RELOWHLOHQVLJQDOLVLHUW
1LPPWDXFKKLHUNHLQ7HLOQHKPHUGDV*HVSU¾FKHQWJHJHQXQGLVWGHU
$QUXIEHDQWZRUWHUHLQJHVFKDOWHWÖEHUQLPPWGHU$QUXIEHDQWZRUWHU
QDFKPHKUPDOLJHP.OLQJHOQ (LQVWHOOXQJVLHKH6HLWH GDV*HVSU¾FK
PLWGHUHLQJHVWHOOWHQ$QVDJH $QVDJHRGHU$QVDJH %HLHLQJHVWHOO
WHU+LQZHLVDQVDJHÖEHUQLPPWGHU$QUXIEHDQWZRUWHUGDV*HVSU¾FK
QLFKW



*LJDVHW&ODVVLF,QODQG$*%

WHOHIIP



7HOHIRQLHUHQ
7DVWHQGUÖFNHQ

$QUXIÖEHUQHKPHQ &DOO3LFNXS
:LUGHLQ$QUXIDQHLQHPEHVWLPPWHQ0RELOWHLOQLFKWDQJHQRPPHQ
NÐQQHQ6LHLKQDXFKPLW,KUHP0RELOWHLOÖEHUQHKPHQ

D
z4

$EKHEHQ7DVWHGUÖFNHQ
$QUXIDQQHKPHQ
6LHVLQGPLWGHPH[WHUQHQ$QUXIHUYHUEXQGHQ

'XUFKVDJHDXVIÖKUHQ
6LHNÐQQHQPLWGHP0RELOWHLOÖEHUGHQ/DXWVSUHFKHUGHU%DVLVVWDWLRQ
HLQH'XUFKVDJHPDFKHQ
{

$QUXIEHDQWZRUWHUDQUXIHQ



'XUFKVDJHIXQNWLRQHLQVFKDOWHQXQGVSUHFKHQ

v

'XUFKVDJHEHHQGHQ

€

$XIOHJHQ7DVWHGUÖFNHQ

)D[DQUXIH
$QGLH%DVLVVWDWLRQNÐQQHQ6LHHLQHVFKQXUORVH7HOHIRQVWHFNGRVH*L
JDVHW7$(DQPHOGHQ$QGLHVHNDQQHQWZHGHUHLQVFKQXUJHEXQ
GHQHV7HOHIRQHLQ)D[JHU¾WRGHUHLQ0RGHPDQJHVFKORVVHQZHUGHQ
VLHKH6 )D[DQUXIHZHUGHQYRQGHU%DVLVVWDWLRQDXWRPDWLVFK]XP
)D[JHU¾WJHOHLWHW

0RELOWHLOVXFKHQ 3DJLQJ



Q

'UÖFNHQ6LHGLH7DVWHDQGHU%DVLVVWDWLRQrDOOH0RELOWHLOHNOLQJHOQ

Q

6XFKHQEHHQGHQ
7DVWHDQGHU%DVLVVWDWLRQQRFKPDOVGUÖFNHQRGHU
$EKHEHQ7DVWHDDQHLQHP0RELOWHLOGUÖFNHQ

*LJDVHW&ODVVLF,QODQG$*%

NRPIRUWIP



.RPIRUWDEHOWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

.RPIRUWDEHOWHOHIRQLHUHQ
:DKOZLHGHUKROXQJ
,KU0RELOWHLOVSHLFKHUWDXWRPDWLVFKGLH]XOHW]WJHZ¾KOWHQ5XIQXP
PHUQGLH6LHZ¾KOHQ¾QGHUQDQ]HLJHQXQGOÐVFKHQNÐQQHQ

:DKOZLHGHUKROHQ
1

5XIQXPPHUQDQ]HLJHQrGLH]XOHW]WJHZ¾KOWH1XPPHUZLUGDQJH
]HLJW

)('&%$#"!

] %

5XIQXPPHU
6SHLFKHUSODW]
a
D

5XIQXPPHUDXVZ¾KOHQ
$EKHEHQ7DVWHGUÖFNHQXPGHQ:DKOYRUJDQJ]XVWDUWHQ

®

● 'LVSOD\7DVWHQ`a b VLHKHDXFK6 
● $QJH]HLJWH5XIQXPPHU¾QGHUQ
bXQGHUJ¾Q]HQRGHUPLW|NRUULJLHUHQ

$OOH1XPPHUQOÐVFKHQ
$OOH1XPPHUQGHU:DKOZLHGHUKROXQJZHUGHQJHOÐVFKW
z¸yb
7HOHIRQ3,1b
s
b€

)XQNWLRQHLQOHLWHQ
7HOHIRQ3,1GHV0RELOWHLOVHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
$OOH1XPPHUQOÐVFKHQ
/ÐVFKHQEHVW¾WLJHQXQG)XQNWLRQEHHQGHQ

.XU]ZDKO
'LH.XU]ZDKOOLVWHHUOHLFKWHUWGDV:¾KOHQYRQ5XIQXPPHUQ

®

● 'DV6SHLFKHUQYRQ1XPPHUQLVWDXFKZ¾KUHQGHLQHV*H

VSU¾FKVPÐJOLFK

● 'LVSOD\7DVWHQ`a b VLHKHDXFK6 



*LJDVHW&ODVVLF,QODQG$*%

NRPIRUWIP



.RPIRUWDEHOWHOHIRQLHUHQ
7DVWHQGUÖFNHQ
z-

5XIQXPPHUQVSHLFKHUQ¾QGHUQOÐVFKHQ
6SHLFKHU7DVWHGDQDFK.XU]ZDKO7DVWHGUÖFNHQrHVZLUGGHU(LQWUDJ
IÖUGLH.XU]ZDKOQXPPHUDQJH]HLJW
] % !

_

/HHU]HLFKHQRGHU5XIQXPPHU
.XU]ZDKOQXPPHU 6SHLFKHUSODW]
] %vRGHUa
b
P
b
€

.XU]ZDKOQXPPHU =LIIHUELV HLQJHEHQRGHUPLW aELV]XUJH
ZÖQVFKWHQ.XU]ZDKOQXPPHUEO¾WWHUQ
$XVZDKOEHVW¾WLJHQ
5XIQXPPHU =LHO HLQJHEHQRGHUHLQHEHVWHKHQGH5XIQXPPHUHUJ¾Q
]HQ*JIJDQ]H5XIQXPPHUPLW|OÐVFKHQ
1XPPHUVSHLFKHUQrGHU%HVW¾WLJXQJVWRQHUWÐQW
)XQNWLRQEHHQGHQ

0LW.XU]ZDKOZ¾KOHQ
] %·
D

.XU]ZDKO7DVWHGUÖFNHQ
.XU]ZDKOQXPPHU =LIIHUELV HLQJHEHQRGHUPLW aEO¾WWHUQ
5XIQXPPHUZLUGJHZ¾KOW

®

.XU]ZDKOQXPPHUYRU:DKOHUJ¾Q]HQ
$QJH]HLJWH1XPPHUPLWbEHVW¾WLJHQ1XPPHU¾QGHUQGD
QDFKPLWDZ¾KOHQ

5XIQXPPHUDXVGHU:DKOZLHGHUKROXQJVSHLFKHUQ
z] %vRGHUa

6SHLFKHU7DVWHGDQDFK.XU]ZDKO7DVWHGUÖFNHQ
.XU]ZDKOQXPPHU =LIIHUELV HLQJHEHQ

b

$XVZDKOEHVW¾WLJHQ

a

5XIQXPPHUDXV:DKOZLHGHUKROXQJDXVZ¾KOHQ

b€

5XIQXPPHUVSHLFKHUQ %HVW¾WLJXQJVWRQ XQG)XQNWLRQEHHQGHQ

.XU]ZDKOOLVWHOÐVFKHQ
$OOH1XPPHUQZHUGHQJHOÐVFKW
z¸yb
7HOHIRQ3,1b
¸b€



)XQNWLRQHLQOHLWHQ
7HOHIRQ3,1GHV0RELOWHLOVHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
/ÐVFKHQEHVW¾WLJHQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

NRPIRUWIP



.RPIRUWDEHOWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

$QUXIHUOLVWH%ULHINDVWHQIXQNWLRQ
,QGHU$QUXIHUOLVWHZHUGHQGLH5XIQXPPHUQGHUOHW]WHQ
 DQNRPPHQGHQ$QUXIHJHVSHLFKHUWYRUDXVJHVHW]WGLH5XIQXP
PHUGHV$QUXIHUVZXUGHÖEHUWUDJHQ1HXH(LQWU¾JHGHU$QUXIHUOLVWH
ZHUGHQGXUFKGDV6\PEROªDQJH]HLJW

$QUXIHU]XUÖFNUXIHQ
zs

)XQNWLRQHLQOHLWHQrIROJHQGHVZLUGNXU]DQJH]HLJW
] %

°°°° ! #°°°°
DOWH(LQWU¾JH
QHXH(LQWU¾JH

'DQDFKZLUGIROJHQGHV'LVSOD\DEZHFKVHOQGPLWGHU5XIQXPPHUDQ
JH]HLJW
] %

!"" $! °$'
8KU]HLW
'DWXP
$Q]DKOGHU$QUXIHEHL(LQVWHOOXQJ
dQLFKWDQJHQRPPHQH$QUXIHo
RGHU1XPPHUGHV(LQWUDJVEHL
(LQVWHOOXQJdDOOH$QUXIHo

a
D

=XPJHZÖQVFKWHQ(LQWUDJEO¾WWHUQ
5XIQXPPHUZ¾KOHQrGHU(LQWUDJZLUGDXVGHU$QUXIHUOLVWHJHOÐVFKW
XQGLQGHU:DKOZLHGHUKROXQJJHVSHLFKHUW

$QUXIHUOLVWHHLQVWHOOHQ
6LHNÐQQHQHLQVWHOOHQ
r QXUGLHQLFKWDQJHQRPPHQHQ$QUXIHZHUGHQJHVSHLFKHUWRGHU
r DOOHDQNRPPHQGHQ$QUXIHZHUGHQJHVSHLFKHUW

®
z¨~b
] %s
b€

%HLGHU8PVWHOOXQJZHUGHQDOOH(LQWU¾JHJHOÐVFKW

)XQNWLRQHLQOHLWHQ
]%DOOH$QUXIHVROOHQJHVSHLFKHUWZHUGHQ
1LFKWDQJHQRPPHQH$QUXIH $OOH$QUXIH 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

NRPIRUWIP



.RPIRUWDEHOWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

$QUXIHUOLVWHOÐVFKHQ
$OOH(LQWU¾JHGHU$QUXIHUOLVWHZHUGHQJHOÐVFKW

z·}b
6\VWHP3,1b

¸b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
$QUXIHUOLVWHOÐVFKHQXQG)XQNWLRQEHHQGHQ

$QGHU%DVLVPLWKÐUHQ
$QZHVHQGH3HUVRQHQNÐQQHQHLQ*HVSU¾FKÖEHUGHQ/DXWVSUHFKHU
GHU%DVLVVWDWLRQPLWKÐUHQ6LHNÐQQHQGLH0LWKÐUIXQNWLRQZ¾KUHQGHL
QHV*HVSU¾FKVHLQXQGDXVVFKDOWHQ
0LWKÐUHQHLQDXVVFKDOWHQ
{y

0LWKÐUHQHLQDXVVFKDOWHQ

®

/DXWVW¾UNHPLW7DVWHQXQG‚DXIGHU%DVLVVWDWLRQJJI
OHLVHURGHUODXWHUVWHOOHQ(LQHJH¾QGHUWH/DXWVW¾UNHEOHLEW
HLQJHVWHOOW

([WHUQHV*HVSU¾FKDXIQHKPHQ
0LWVFKQHLGHQ
6LHNÐQQHQHLQH[WHUQHV*HVSU¾FKDXIGHP$QUXIEHDQWZRUWHUDXIQHK
PHQ'D]XPX¹GHU$QUXIEHDQWZRUWHUHLQJHVFKDOWHWVHLQ
6LHIÖKUHQHLQH[WHUQHV*HVSU¾FK
{

$XIQDKPHVWDUWHQ
'LH/DPSHDP$QUXIEHDQWZRUWHUEOLQNWXQGGDV*HVSU¾FKZLUGDXIJH
QRPPHQ

{

$XIQDKPHEHHQGHQ

RGHU
€



'DVH[WHUQH*HVSU¾FKXQGGLH$XIQDKPHZHUGHQEHHQGHW

*LJDVHW&ODVVLF,QODQG$*%

NRVWHQIP



.RVWHQEHZX¹WWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

.RVWHQEHZX¹WWHOHIRQLHUHQ
&DOOE\&DOO8QWHUVWÖW]XQJ
'LHVH)XQNWLRQHUOHLFKWHUW,KQHQGDV:¾KOHQZHQQ6LHÖEHUHLQH
DQGHUH7HOHIRQJHVHOOVFKDIWDQUXIHQZROOHQ
● 0LW.XU]ZDKO7DVWH

r 5XIQXPPHUGHU7HOHIRQJHVHOOVFKDIWDOV.XU]ZDKOQXPPHUdoVSHL
FKHUQVLHKH.XU]ZDKO6HLWH
r 'XUFKODQJHV'UÖFNHQGHU.XU]ZDKO7DVWH-ZLUGGLHDOV.XU]
ZDKOQXPPHUdoDEJHVSHLFKHUWH5XIQXPPHUGHU7HOHIRQJHVHOO
VFKDIWDQJH]HLJW
9RUDXVVHW]XQJ1XPPHUJHVSHLFKHUW
-

.XU]ZDKO7DVWHODQJHGUÖFNHQrGLH9RUZDKOQXPPHUGHU7HOHIRQJH
VHOOVFKDIWZLUGDQJH]HLJW

P

5XIQXPPHUGHV7HLOQHKPHUVHLQJHEHQ

D

0LW$EKHEHQ7DVWHJDQ]H1XPPHUZ¾KOHQ
● 'XUFKd9HUNHWWHQoGHU.XU]ZDKO

6LHNÐQQHQVLFK9RUZDKOQXPPHUQYRQYHUVFKLHGHQHQ7HOHIRQJHVHOO
VFKDIWHQDOV.XU]ZDKOVSHLFKHUQXQGEHLP:¾KOHQIROJHQGHUPD¹HQ
QXW]HQ
-] %·
b
-] %v
D

*HZÖQVFKWH9RUZDKOQXPPHUDQ]HLJHQ
9RUZDKOQXPPHUEHVW¾WLJHQ
5XIQXPPHUGHV7HLOQHKPHUVDXV.XU]ZDKORGHUdPDQXHOOoHLQJHEHQ
0LW$EKHEHQ7DVWHJDQ]H1XPPHUZ¾KOHQ

*HVSU¾FKVGDXHUDQ]HLJHQ
®

'DV0RELOWHLO]HLJW,KQHQDXWRPDWLVFKGLHDNWXHOOH*HVSU¾FKV
GDXHUDQZHQQNHLQH=¾KOLPSXOVHÖEHUWUDJHQZHUGHQ



NRVWHQIP

*LJDVHW&ODVVLF,QODQG$*%



.RVWHQEHZX¹WWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

*HVSU¾FKVNRVWHQDQ]HLJHQ
9RUDXVVHW]XQJ6LHKDEHQEHL,KUHU7HOHIRQJHVHOOVFKDIWGLH¶EHUWUD
JXQJGHU=¾KOLPSXOVHEHDQWUDJWXQGGHUULFKWLJH3UHLVMH(LQKHLWLVW
HLQJHVWHOOW
'LH$Q]HLJHHUIROJWQDFK(LQJDQJGHV=¾KOLPSXOVHV
] %

"

!
.RVWHQGHVDNWXHOOHQ*HVSU¾FKV
*HVDPWNRVWHQDOOHU*HVSU¾FKH

3UHLVMH(LQKHLWHLQVWHOOHQ
'DPLWGLH*HVSU¾FKVNRVWHQULFKWLJDQJH]HLJWZHUGHQPÖVVHQ6LH
GHQ3UHLVMH(LQKHLWHLQVWHOOHQ
:HQQ6LHGHQ3UHLVMH(LQKHLWDXI1XOOHLQVWHOOHQZHUGHQDQVWDWWGHU
*HVSU¾FKVNRVWHQGLH(LQKHLWHQDQJH]HLJW

®

● -HGHžQGHUXQJVHW]WGLH=¾KOHUVW¾QGHDXI1XOO]XUÖFN'LH

%HWU¾JHGHU7DVFKHQJHOGNRQWHQEOHLEHQHUKDOWHQ

● :LUGGHU3UHLVMH(LQKHLWDXI1XOOJHVHW]WZHUGHQDXFKGLH

%HWU¾JHGHU7DVFKHQJHOGNRQWHQJHOÐVFKW

z·xb
6\VWHP3,1b

)XQNWLRQHLQOHLWHQ
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG
 rGLHDNWXHOOH(LQVWHOOXQJZLUGDQJH]HLJW
*JIPLW7DVWH~]ZLVFKHQ$Q]HLJHPLW'H]LPDOSXQNW  XQG
RKQH'H]LPDOSXQNW  ZHFKVHOQ

] %¸s

3UHLVMH(LQKHLWHLQJHEHQ
*JIPLW7DVWH|(QWJHOWIDNWRUDXIdoVHW]HQr(LQVWHOOXQJIÖU
$Q]HLJHGHU(LQKHLWHQ

b€

(LQVWHOOXQJVSHLFKHUQ %HVW¾WLJXQJVWRQ XQG)XQNWLRQEHHQGHQ

.RVWHQDQ]HLJHQOÐVFKHQ
6LHNÐQQHQGLH.RVWHQSUR0RELOWHLOXQGYRQDOOHQ0RELOWHLOHQDQ
]HLJHQ6LQG(LQKHLWHQHLQJHVWHOOWZHUGHQQDWÖUOLFK*HVDPWHLQKHLWHQ
DQJH]HLJW
z¨·b
6\VWHP3,1b



)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLH1XP
PHUQDOOHUDQJHPHOGHWHQ0RELOWHLOHZHUGHQDQJH]HLJW EOLQNHQ 

NRVWHQIP

*LJDVHW&ODVVLF,QODQG$*%



.RVWHQEHZX¹WWHOHIRQLHUHQ
7DVWHQGUÖFNHQ
~

● *HVDPWNRVWHQDOOHU0RELOWHLOH

7DVWHGUÖFNHQ
*JI$Q]HLJHPLW|OÐVFKHQXQG/ÐVFKHQPLWbEHVW¾WLJHQ

€

)XQNWLRQEHHQGHQ
RGHU
● .RVWHQHLQHVEHVWLPPWHQ0RELOWHLOV

] %¸

1XPPHUGHV0RELOWHLOVHLQJHEHQrIROJHQGHVZLUGDQJH]HLJW
] %

"

!
.RVWHQGHVOHW]WHQ*HVSU¾FKV
*HVDPWNRVWHQDOOHU*HVSU¾FKH

*JI$Q]HLJHPLW|OÐVFKHQXQG/ÐVFKHQPLWbEHVW¾WLJHQ
$EIUDJHZHLWHUHU0RELOWHLOH[b
€

)XQNWLRQEHHQGHQ

/HW]WH*HVSU¾FKVNRVWHQDQ]HLJHQ
,VWGLHVH)XQNWLRQHLQJHVFKDOWHWZHUGHQQDFK'UÖFNHQGHU$EKHEHQ
7DVWHDLPPHUGLH*HVDPWNRVWHQ.RVWHQGHVOHW]WHQ*HVSU¾FKVDQ
JH]HLJW
z·yb
6\VWHP3,1b
] %¸
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
]%$Q]HLJHHLQVFKDOWHQ
(LQVFKDOWHQ $XVVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

7DVFKHQJHOGNRQWR
9RUDXVVHW]XQJ'LH*HVSU¾FKVNRVWHQZHUGHQDQJH]HLJW
6LHNÐQQHQIÖUMHGHV0RELOWHLOHLQ7DVFKHQJHOGNRQWRHLQULFKWHQ0LW
GLHVHU)XQNWLRQNÐQQHQ6LHHLQHP0RELOWHLOHLQ*XWKDEHQIÖUDEJH
KHQGHH[WHUQH*HVSU¾FKH]XZHLVHQ,P*HVSU¾FKV]XVWDQGZLUGGDV
DNWXHOOH*XWKDEHQDQJH]HLJW
$P0RELOWHLOPLWHLQJHVFKDOWHWHP7DVFKHQJHOGNRQWRNÐQQHQ6LH
r $QNRPPHQGH$QUXIHDQQHKPHQ
r ,QWHUQH*HVSU¾FKHIÖKUHQ
r 'LHLQGHU%DVLVVWDWLRQJHVSHLFKHUWHQ1RWUXIQXPPHUQZ¾KOHQ



*LJDVHW&ODVVLF,QODQG$*%

NRVWHQIP



.RVWHQEHZX¹WWHOHIRQLHUHQ
7DVWHQGUÖFNHQ

:HQQGDV*XWKDEHQ]X(QGHJHKWE]ZYHUEUDXFKWLVW
,P*HVSU¾FKV]XVWDQGHUWÐQWEHLGHQOHW]WHQ(LQKHLWHQMHZHLOVHLQ
+LQZHLVWRQ%HL*XWKDEHQHQGHZLUGGLH9HUELQGXQJJHWUHQQW

®

,VWGLH%DVLVVWDWLRQDXI*HVSU¾FKVHLQKHLWHQHLQJHVWHOOWGDQQ
ZLUGGDV7DVFKHQJHOGNRQWRDXFKPLW(LQKHLWHQJHIÖKUW
VLHKH6HLWH

*XWKDEHQIHVWOHJHQDQ]HLJHQ
z¨ub

)XQNWLRQHLQOHLWHQ

6\VWHP3,1b

6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG rGLH1XPPHUQDOOHUDQJHPHOGHWHQ0RELOWHLOH
ZHUGHQDQJH]HLJW EOLQNHQ 

] %¸

5XIQXPPHUGHV0RELOWHLOVHLQJHEHQrGDV'LVSOD\]HLJWGHQDNWXHO
OHQ.RQWRVWDQGGHV0RELOWHLOVDQ

] %
s¨¨¨

b€

%HWUDJIÖU*XWKDEHQHLQJHEHQ]%
ELV]XE]ZMHQDFK3UHLVSUR(LQKHLW 
0LWGHU/ÐVFKWDVWH|NÐQQHQ6LHGHQ%HWUDJDXI1XOOVHW]HQ
*XWKDEHQVSHLFKHUQ)XQNWLRQEHHQGHQXQG QXQQRFKGDV7DVFKHQ
JHOGNRQWRHLQVFKDOWHQZLHQDFKIROJHQGEHVFKULHEHQ

7DVFKHQJHOGNRQWRHLQDXVVFKDOWHQ
z·¨b
6\VWHP3,1b

6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLH1XP
PHUQGHU0RELOWHLOHZHUGHQDQJH]HLJW

] %¸

5XIQXPPHUGHV0RELOWHLOVHLQJHEHQrGLHDNWXHOOH(LQVWHOOXQJZLUG
DQJH]HLJW GLHDQIDQJVHLQJHJHEHQH)XQNWLRQVQXPPHU0RELO
WHLOQXPPHUXQGGLH(LQVWHOOXQJRGHU

] %¸

]%7DVFKHQJHOGNRQWRHLQVFKDOWHQ
(LQVFKDOWHQ $XVVFKDOWHQ 

b€



)XQNWLRQHLQOHLWHQ

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

$QUXIEHDQWZRUWHU
1DFKGHU,QEHWULHEQDKPH,KUHU%DVLVVWDWLRQLVWGHU$QUXIEHDQWZRUWHU
HLQVDW]EHUHLW
%HLGHU%HGLHQXQJHQXQWHUVWÖW]W6LHGHU$QUXIEHDQWZRUWHUPLWHQW
VSUHFKHQGHQ$Q]HLJHQDP'LVSOD\GHV0RELOWHLOVXQGPLW6SUDFKKLQ
ZHLVHQ

6LHNÐQQHQGHQ$QUXIEHDQWZRUWHUGLUHNWÖEHUGLH7DVWHQDXIGHU%D
VLVVWDWLRQÖEHUHLQDQJHPHOGHWHV0RELOWHLORGHUÖEHUHLQH[WHUQHV7H
OHIRQEHGLHQHQ
'HQ7DVWHQDXIGHU%DVLVVWDWLRQVLQGGLHMHZHLOLJHQ=LIIHUQDXI

® GHP0RELOWHLO]XJHRUGQHW VLHKH6 

Ÿ

%HGLHQXQJPLWGHU%DVLVVWDWLRQ
,KU $QUXIEHDQWZRUWHULVWQDFKGHU,QEHWULHEQDKPHGHU%DVLVVWDWLRQ
VRIRUWHLQVDW]EHUHLW)ÖUGLH$XIQDKPHYRQ1DFKULFKWHQPLW=HLWDQJD
EHPÖVVHQ'DWXPXQG8KU]HLWHLQJHVWHOOWVHLQ6RODQJHELV6LHHLQH
HLJHQH$QVDJHDXIJHQRPPHQKDEHQYHUZHQGHWGHU$QUXIEHDQWZRU
WHUGLHJHVSHLFKHUWHZHLEOLFKH6WDQGDUGDQVDJH
d=XU=HLWLVWQLHPDQGHUUHLFKEDU6LHNÐQQHQQDFKGHP6LJQDOWRQHLQH
1DFKULFKWKLQWHUODVVHQo
(LQVFKDOWHQ

I

$QUXIEHDQWZRUWHUHLQVFKDOWHQ
$QGHU%DVLVVWDWLRQOHXFKWHWGLH$QUXIEHDQWZRUWHU7DVWH'HU$QUXIEH
DQWZRUWHULVWDXIQDKPHEHUHLW
,VWGHU6SHLFKHUYROOXQGHLQ7H[WGHU+LQZHLVDQVDJHYRUKDQ

® GHQGDQQVFKDOWHWVLFKGHU$QUXIEHDQWZRUWHUDXWRPDWLVFKDXI
d$QUXIKLQZHLVRKQH$XIQDKPHPÐJOLFKNHLWoXP

$XVVFKDOWHQ
I

$QUXIEHDQWZRUWHUDXVVFKDOWHQ
'LH/DPSHOHXFKWHWQLFKWPHKU



*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

$QVDJHQDXVZ¾KOHQ
,P/LHIHU]XVWDQGLVWEHUHLWVHLQH6WDQGDUGDQVDJHYRUKDQGHQGLH6LH
QLFKWOÐVFKHQNÐQQHQ
d=XU=HLWLVWQLHPDQGHUUHLFKEDU6LHNÐQQHQQDFKGHP6LJQDOWRQHLQH
1DFKULFKWKLQWHUODVVHQo
'LHVH$QVDJHZLUGYHUZHQGHWVRODQJH6LHQRFKNHLQHHLJHQH$QVDJH
DXIJHQRPPHQKDEHQE]Z,KUHSHUVÐQOLFKH$QVDJHJHOÐVFKWKDEHQ
6LHNÐQQHQ]ZLVFKHQIROJHQGHQ$QVDJHQZ¾KOHQ
● $QVDJHPLW1DFKULFKWHQDXIQDKPHXQG6FKOX¹DQVDJH
● $QVDJHPLW1DFKULFKWHQDXIQDKPHXQG6FKOX¹DQVDJH
● +LQZHLVDQVDJHRKQH$XIQDKPHPÐJOLFKNHLW

'LH+LQZHLVDQVDJHEHQÐWLJHQ6LHDXFKIÖUGLH'XUFKZDKOIXQNWLRQ
VLHKH6 

f

$XVZDKOGHU$QVDJHHLQOHLWHQ

“

=XUYRUKHUJHKHQGHQ$QVDJHVSULQJHQ

•

=XUQ¾FKVWHQ$QVDJHVSULQJHQ

c

'LHDXVJHZ¾KOWH$QVDJHLVWDNWLY
'LHHLQJHVWHOOWH$QVDJHEOHLEWDXFKQDFKGHP$XVVFKDOWHQGHV$QUXI
EHDQWZRUWHUVJHVSHLFKHUW
:HQQ6LH+LQZHLVDQVDJHRKQH$XIQDKPHPÐJOLFKNHLWZ¾K

® OHQREZRKONHLQ7H[WDXIJHVSURFKHQLVWNDQQGHU$QUXIEHDQW
ZRUWHUQLFKWHLQJHVFKDOWHWZHUGHQRGHUVFKDOWHWVLFKDXWRPD
WLVFKDE

$QVDJHQDXIQHKPHQ
%HYRU6LHHLQH$QVDJHDXIQHKPHQPÖVVHQ6LH]XHUVWGLHJHZÖQVFK
WH$QVDJHDXVZ¾KOHQ VLHKHREHQ 6LHNÐQQHQ$QVDJHQPLWRGHU
RKQH6FKOX¹DQVDJHQDXIQHKPHQ
$QVDJHQRKQH6FKOX¹DQVDJHDXIQHKPHQ
f

$XIQDKPHHLQOHLWHQ

d

'HU$QUXIEHDQWZRUWHUUXIWDXWRPDWLVFKDOOHDQJHPHOGHWHQ0RELOWHLOH
DQ9RQGHP0RELOWHLOYRQGHPGHU$QUXIDQJHQRPPHQZLUGZLUG
GLH$XIQDKPHJHVWDUWHW

D

$EKHEHQ7DVWHDP0RELOWHLOGUÖFNHQ
6LHKÐUHQGHQ%HUHLW7RQ
6SUHFKHQ6LHMHW]W,KUHQ$QVDJHWH[WRGHU,KUH+LQZHLVDQVDJH
(LQHW\SLVFKH$QVDJHLVW]%
d6LHVLQGPLWGHP$QVFKOX¹YRQ+HUUQ0HLHUYHUEXQGHQ,FKELQ]XU
=HLWQLFKWHUUHLFKEDU6LHNÐQQHQPLUMHGRFKHLQH1DFKULFKWKLQWHUODV
VHQ6SUHFKHQ6LHGD]XQDFKGHP6LJQDOWRQo



*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

(LQHW\SLVFKH+LQZHLVDQVDJHLVW]%
d6LHUXIHQDX¹HUKDOEXQVHUHU*HVFK¾IWV]HLWDQ6LHHUUHLFKHQXQV:R
FKHQWDJVYRQELV8KUo
:HOFKH+LQZHLVDQVDJHQ6LHIÖUGLH'XUFKZDKODXIVSUHFKHQNÐQQHQ
OHVHQ6LHDXI6HLWH
'LH$XIQDKPHEULFKWDXWRPDWLVFKDE
● EHL¶EHUVFKUHLWXQJGHUPD[LPDOHQ$XIQDKPHGDXHUYRQ6HNXQ

GHQ

● EHL6SUDFKSDXVHQGLHO¾QJHUDOV6HNXQGHQGDXHUQ

€

$XIOHJHQ7DVWHDP0RELOWHLOGUÖFNHQ
'HUDXIJHQRPPHQH7H[WZLUGZLHGHUKROW
$QVDJHPLW6FKOX¹DQVDJHDXIQHKPHQ

f

'XUFK'UÖFNHQDQGHU%DVLV$XIQDKPHHLQOHLWHQ

d

'HU$QUXIEHDQWZRUWHUUXIWGXUFK'UÖFNHQDQGHU%DVLVDXWRPDWLVFK
DOOHDQJHPHOGHWHQ0RELOWHLOHDQ9RQGHP0RELOWHLOYRQGHPGHU$Q
UXIDQJHQRPPHQZLUGZLUGGLH$XIQDKPHJHVWDUWHW

D

$EKHEHQ7DVWHDP0RELOWHLOGUÖFNHQXQG$QVDJHDXIVSUHFKHQ

c

'XUFK'UÖFNHQDQGHU%DVLVZHUGHQ6LHDXIJHIRUGHUWHLQH6FKOX¹DQ
VDJHDXI]XVSUHFKHQ
(LQHW\SLVFKH6FKOX¹DQVDJHLVW]%
d'LHPD[LPDOH$XIVSUHFKGDXHUIÖU,KUH1DFKULFKWLVWHUUHLFKW9LHOHQ
'DQNIÖU,KUHQ$QUXIo

c

'XUFKGUÖFNHQDQGHU%DVLV$XIQDKPHEHHQGHQ
'LHDXIJHQRPPHQHQ7H[WHZHUGHQZLHGHUKROW

$QVDJHQ]XU.RQWUROOHDQKÐUHQ
f

'XUFK'UÖFNHQDQGHU%DVLV:LHGHUJDEHHLQOHLWHQ

”

'XUFK'UÖFNHQDQGHU%DVLVZLUGGLHDNWXHOOHLQJHVWHOOWH$QVDJHZLH
GHUJHJHEHQ
:LHGHUJDEH ÖEHU/DXWVSUHFKHUGHU%DVLVVWDWLRQ PLW7DVWHQ

® XQG‚DQGHU%DVLVJJIOHLVHURGHUODXWHUVWHOOHQ'LH
/DXWVW¾UNHZLUGJHVSHLFKHUW

$QVDJHQOÐVFKHQ
f

'XUFK'UÖFNHQDQGHU%DVLV/ÐVFKHQHLQOHLWHQ

–

'XUFK'UÖFNHQDQGHU%DVLVZHUGHQGLHDNWXHOOHLQJHVWHOOWH$QVDJH
JHOÐVFKW
:HQQ6LHHLQHQ$QUXIKLQZHLVOÐVFKHQVFKDOWHWVLFKGHU$QUXI

® EHDQWZRUWHUDXWRPDWLVFKDE:HQQ6LHHLQH$QVDJHJHOÐVFKW
KDEHQLVWGLHIHVWJHVSHLFKHUWH6WDQGDUGDQVDJHDNWLY



*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

1DFKULFKWHQDQKÐUHQ
:HQQQHXH1DFKULFKWHQDXIJHQRPPHQZXUGHQEOLQNWGLH$QUXIEH
DQWZRUWHUWDVWHGHU%DVLVVWDWLRQXQGDP'LVSOD\GHV0RELOWHLOVZLUG
DQJH]HLJW
GDV6\PERO

ˆ

”

1DFKULFKWHQDQKÐUHQ
'LH:LHGHUJDEHEHJLQQWPLWGHUHUVWHQQHXHQ1DFKULFKW1DFKGHU
OHW]WHQQHXHQ1DFKULFKWZHUGHQGLHDOWHQ1DFKULFKWHQZLHGHUJHJH
EHQ
:¾KUHQGGHV$QKÐUHQVKDEHQ6LHIROJHQGH0ÐJOLFKNHLWHQ

‚

/HLVHURGHUODXWHUVWHOOHQ

c

:LHGHUJDEHDQKDOWHQ 3DXVH 

”

:LHGHUJDEHIRUWVHW]HQ

“

=XP$QIDQJGHUDNWXHOOHQ1DFKULFKWVSULQJHQ

““
•
••
d
cc

=XUYRUKHUJHKHQGHQ1DFKULFKWVSULQJHQ PHKUPDOVGUÖFNHQ 
=XUQ¾FKVWHQ1DFKULFKWVSULQJHQ
=XGHQQ¾FKVWHQ1DFKULFKWHQVSULQJHQ PHKUPDOVGUÖFNHQ 
/DXIHQGH1DFKULFKWDOVdQHXo QRFKQLFKWDQJHKÐUW PDUNLHUHQ
:LHGHUJDEHEHHQGHQ
:HQQGLH=HLWQLFKWHLQJHVWHOOW VLHKH6HLWH LVWHQWI¾OOWGLH

® :LHGHUJDEHGHV'DWXPVXQGGHU8KU]HLW

/DXIHQGH DOWH 1DFKULFKWDOVdQHXoPDUNLHUHQ
”
•RGHU“
d



1DFKULFKWDQKÐUHQ
=XUJHZÖQVFKWHQ1DFKULFKWVSULQJHQ HLQRGHUPHKUPDOVGUÖFNHQ 
'LH1DFKULFKWLVWDOVdQHXoPDUNLHUW

*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

1DFKULFKWHQOÐVFKHQ
6LHNÐQQHQHQWZHGHUDOOHRGHUHLQ]HOQHDOWH1DFKULFKWHQOÐVFKHQ
$OOHDOWHQ1DFKULFKWHQOÐVFKHQ

–

,P5XKH]XVWDQGGHV$QUXIEHDQWZRUWHUVGUÖFNHQ

“

,QQHUKDOEYRQ6HNXQGHQGUÖFNHQ
$OOH1DFKULFKWHQVLQGJHOÐVFKW
6LHNÐQQHQGHQ/ÐVFKYRUJDQJDEEUHFKHQLQGHP6LHQDFKGHU

® 0HOGXQJd/ÐVFKHQPLW5ÖFNVSUXQJWDVWHEHVW¾WLJHQoGLH7DVWH
cGUÖFNHQ

(LQ]HOQHDOWH1DFKULFKWHQOÐVFKHQ
”
•RGHU“
–

'LH:LHGHUJDEHGHU1DFKULFKWHQEHJLQQW
=XUJHZÖQVFKWHQ1DFKULFKWVSULQJHQ HLQRGHUPHKUPDOVGUÖFNHQ 
:¾KUHQGGHU:LHGHUJDEHGUÖFNHQ
'LH1DFKULFKWLVWJHOÐVFKW

,QIRUPDWLRQHQDXIQHKPHQ
0LWGHP0RELOWHLONÐQQHQ6LH,QIRUPDWLRQHQIÖU,KUH0LWEHQXW]HUDXI
VSUHFKHQ
d

$XIQDKPHHLQOHLWHQ
'HU$QUXIEHDQWZRUWHUUXIWDXWRPDWLVFKDOOH0RELOWHLOHDQ9RQGHP
0RELOWHLOYRQGHPGHU$QUXIDQJHQRPPHQZLUGZLUGGLH$XIQDKPH
JHVWDUWHW

D

$EKHEHQ7DVWHDP0RELOWHLOGUÖFNHQ6LHKÐUHQGHQ%HUHLW7RQ
6SUHFKHQ6LHMHW]W,KUH,QIRUPDWLRQHQDXI
%HL6SUHFKSDXVHQGLHO¾QJHUDOV6HNXQGHQGDXHUQEULFKWGLH

® $XIQDKPHDXWRPDWLVFKDE
c

'XUFK'UÖFNHQDQGHU%DVLV$XIQDKPHEHHQGHQ
6LHKÐUHQGHQ(QGH7RQ



DQUXIEBVWDQGIP

*LJDVHW&ODVVLF,QODQG$*%



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

L

%HGLHQXQJPLWGHP0RELOWHLO
6LHNÐQQHQGHQ$QUXIEHDQWZRUWHUPLW,KUHP0RELOWHLORGHUYRQXQWHU
ZHJV VLHKH6 EHGLHQHQ
'LH=LIIHUQDXIGHP0RELOWHLORGHUDQHLQHPH[WHUQHQ7HOHIRQHQWVSUH
FKHQIROJHQGHQ7DVWHQDXIGHU%DVLVVWDWLRQ

“

”

•

1

2

3

c

d

4

5

6

f

I

'LUHNW
DQVSUHFKHQ

7

8

9

1HX

–

6WDWXV+LOIH

✱

0

#

$QUXIEHDQWZRUWHUHLQDXVVFKDOWHQ
{



9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

y

(LQRGHUDXVVFKDOWHQ

€

9HUELQGXQJEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ
{

$QVDJHDXVZ¾KOHQ
9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

x

$EIUDJHQGHUDNWXHOOHQ$QVDJH

·

=XUQ¾FKVWHQ$QVDJH

¸

=XUYRUKHULJHQ$QVDJH

v

(LQVWHOOHQGHUQHXHQ$QVDJH

€

9HUELQGXQJEHHQGHQ

$QVDJHDXIQHKPHQ
{

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

x†

$XIQDKPHGHUDXVJHZ¾KOWHQ$QVDJHEHJLQQHQ

v

6FKOX¹DQVDJHQDFK$XIIRUGHUXQJDXIVSUHFKHQ

v

$XIQDKPHEHHQGHQ

€

9HUELQGXQJEHHQGHQ

0ÐFKWHQ6LHNHLQHQ6FKOX¹DQVDJHWH[WDXIQHKPHQGUÖFNHQ

® 6LHELWWH]ZHLPDOGLH7DVWHvNXU]KLQWHUHLQDQGHU
$QVDJH]XU.RQWUROOHDQKÐUHQ
{

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

xs

$XVJHZ¾KOWH$QVDJHZLHGHUJHEHQ

€

9HUELQGXQJEHHQGHQ

$QVDJHOÐVFKHQ
{

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

x¨

$XVJHZ¾KOWH$QVDJHOÐVFKHQ

€

9HUELQGXQJEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

1DFKULFKWHQDQKÐUHQ
:HQQQHXH1DFKULFKWHQDXIJHQRPPHQZXUGHQEOLQNWGLH$QUXIEH
DQWZRUWHUWDVWHGHU%DVLVVWDWLRQXQGDP'LVSOD\GHV0RELOWHLOVZLUG
DQJH]HLJW
GDV6\PERO

ˆ

6LHNÐQQHQ1DFKULFKWHQZDKOZHLVHÖEHUGLH=LIIHUQWDVWHQGHV0RELO
WHLOVRGHUÖEHUGLH'LVSOD\7DVWHQDQKÐUHQ
1DFKULFKWHQÖEHUGLH=LIIHUQWDVWHQDQKÐUHQ
{

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

s

$OOH1DFKULFKWHQDQKÐUHQ

v

:LHGHUJDEHDQKDOWHQ 3DXVH 

s

:LHGHUJDEHIRUWVHW]HQ

¸

=XP$QIDQJGHUDNWXHOOHQ1DFKULFKWVSULQJHQ

¸¸
·
··
~

vv
€

=XUYRUKHUJHKHQGHQ1DFKULFKWVSULQJHQ PHKUPDOVGUÖFNHQ 
=XUQ¾FKVWHQ1DFKULFKWVSULQJHQ
=XGHQQ¾FKVWHQ1DFKULFKWVSULQJHQ PHKUPDOVGUÖFNHQ 
/DXIHQGH1DFKULFKWDOVdQHXo QRFKQLFKWDQJHKÐUW PDUNLHUHQ
:LHGHUJDEHEHHQGHQ
9HUELQGXQJEHHQGHQ
1DFKULFKWHQÖEHU'LVSOD\7DVWHQDQKÐUHQ

{

1DFKULFKWHQDQ]HLJHQ
'LH$Q]DKOGHUQHXHQXQGDOWHQ1DFKULFK
WHQZLUGLP'LVSOD\DQJH]HLJW

s

 ( '
Ž





'LHHUVWHQHXH1DFKULFKWZLUGZLHGHUJHJHEHQ
,P'LVSOD\ZHUGHQDEZHFKVHOQGGLH5XI
QXPPHUGHV$QUXIHUVZHQQGLHVH
ÖEHUWUDJHQZXUGHXQG'DWXP8KU]HLWGHV
$QUXIVDQJH]HLJW

()!"#$%&'(
Ž





6LHKDEHQIROJHQGH0ÐJOLFKNHLWHQ
``
a

=XUYRUKHULJHQ1DFKULFKWVSULQJHQ
=XUQ¾FKVWHQ1DFKULFKWVSULQJHQ
0LWGHUD7DVWHNÐQQHQ6LHGLH5XIQXPPHUVRIRUWZ¾KOHQ

® ODVVHQRGHUPLWGHU|7DVWHOÐVFKHQ
€



:LHGHUJDEHEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ
{
s
·RGHU¸

/DXIHQGH DOWH 1DFKULFKWDOVdQHXoPDUNLHUHQ
9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ
1DFKULFKWHQDQKÐUHQ
=XUJHZÖQVFKWHQ1DFKULFKWVSULQJHQ HLQRGHUPHKUPDOVGUÖFNHQ 

~

'LH1DFKULFKWLVWDOVdQHXoPDUNLHUW

€

9HUELQGXQJEHHQGHQ

1DFKULFKWHQOÐVFKHQ
6LHNÐQQHQHQWZHGHUDOOHRGHUHLQ]HOQHDOWH1DFKULFKWHQOÐVFKHQ
$OOHDOWHQ1DFKULFKWHQOÐVFKHQ
{

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ

¨

/ÐVFKYRUJDQJHLQOHLWHQ

¸

,QQHUKDOEYRQ6HNXQGHQGUÖFNHQ
$OOHDOWHQ1DFKULFKWHQVLQGJHOÐVFKW

€

9HUELQGXQJEHHQGHQ
(LQ]HOQHDOWH1DFKULFKWHQOÐVFKHQ

{
s
·RGHU¸
¨

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ
1DFKULFKWHQDQKÐUHQ
=XUJHZÖQVFKWHQ1DFKULFKWVSULQJHQ HLQRGHUPHKUPDOVGUÖFNHQ 
:¾KUHQGGHU:LHGHUJDEHGUÖFNHQ
'LH1DFKULFKWLVWJHOÐVFKW

€

9HUELQGXQJEHHQGHQ

,QIRUPDWLRQHQDXIQHKPHQ
{
†

9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ
$XIQDKPHHLQOHLWHQ
1DFKGHP%HUHLW7RQ,QIRUPDWLRQDXIVSUHFKHQ

v

$XIQDKPHEHHQGHQ

€

9HUELQGXQJEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

'XUFKVDJHDXVIÖKUHQ
6LHNÐQQHQÖEHUGHQ/DXWVSUHFKHUGHU%DVLVVWDWLRQHLQH'XUFKVDJH
PDFKHQ'HU$QUXIEHDQWZRUWHUGDUI]XP=HLWSXQNWGHU'XUFKVDJHNHL
QH1DFKULFKWDXIQHKPHQ

{



9HUELQGXQJPLWGHP$QUXIEHDQWZRUWHUKHUVWHOOHQ



'XUFKVDJHIXQNWLRQHLQVFKDOWHQ

v

'XUFKVDJHEHHQGHQ

€

9HUELQGXQJEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

DQUXIEBVWDQGIP



$QUXIEHDQWZRUWHU
7DVWHQGUÖFNHQ

9RQXQWHUZHJVEHGLHQHQ )HUQDEIUDJH
6LHNÐQQHQGHQ$QUXIEHDQWZRUWHU,KUHU%DVLVVWDWLRQYRQMHGHPDQGH
UHQ7HOHIRQ ]%+RWHO7HOHIRQ]HOOH ZLHPLWGHP0RELOWHLOÖEHUGLH
=LIIHUQWDVWHQEHGLHQHQ
6LHPÖVVHQMHGRFKYRUKHU,KUH6\VWHP3,1¾QGHUQ
VLHKH6HLWH
$QJDEHQ]XGHQ)XQNWLRQHQXQGGHQHQWVSUHFKHQGHQ%HGLHQVFKULWWHQ
ILQGHQ6LHDE6HLWH
(LQH[WHUQHV7HOHIRQPX¹ÖEHU7RQZDKOYHUIÖJHQ$QGHUQIDOOV

® PÖVVHQ6LHHLQHQ7RQVHQGHUEHQÖW]HQ
P
}P

(LJHQH5XIQXPPHUZ¾KOHQ
6LHKÐUHQ,KUHQ$QVDJHWH[W
}7DVWHXQG6\VWHP3,1HLQJHEHQ

$QUXIEHDQWZRUWHUDXVGHU)HUQHHLQVFKDOWHQ
6LHKDEHQYHUJHVVHQ,KUHQ$QUXIEHDQWZRUWHUHLQ]XVFKDOWHQ/DVVHQ
6LH,KU7HOHIRQFD0LQXWHNOLQJHOQ
6LHKÐUHQd%LWWH3,1HLQJHEHQo
}P

}7DVWHXQG6\VWHP3,1HLQJHEHQ
,KU$QUXIEHDQWZRUWHULVWMHW]WHLQJHVFKDOWHW
,P$QKDQJILQGHQ6LHIÖUGLH)HUQDEIUDJHHLQH$QOHLWXQJLP

® 6FKHFNNDUWHQIRUPDW

+LOIHQXQG6WDWXVDEIUDJH
+LOIHQXQG6WDWXVDEIUDJHQNÐQQHQ6LHQXUYRQHLQHPH[WHUQHQ7HOHIRQ
DXIUXIHQ
}

$EIUDJHQGHV*HU¾WH]XVWDQGVXQGGHU)HUQVWHXHUIXQNWLRQHQ
6LHKÐUHQKLQWHUHLQDQGHUIROJHQGH6WDWXVPHOGXQJHQ
● $Q]DKO1DFKULFKWHQ
● +LQZHLVDQVDJHYRUKDQGHQ E]ZQLFKWYRUKDQGHQ
● (LQJHVWHOOWH$QVDJH
● $QUXIEHDQWZRUWHUHLQE]ZDXV
● 5HVWVSHLFKHU]HLW
● JJI=HLWHLQVWHOOXQJQLFKWYRUKDQGHQ
● )XQNWLRQV]XRUGQXQJ]XGHQ7DVWHQXQG 

}

6WDWXVPHOGXQJHQÖEHUVSULQJHQ

v

+LOIHXQG6WDWXVDEIUDJHEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

DEHLQVWBVWDQGIP



$QUXIEHDQWZRUWHULQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ

$QUXIEHDQWZRUWHU
LQGLYLGXHOO HLQVWHOOHQ




,P/LHIHU]XVWDQGLVWGHU$QUXIEHDQWZRUWHURSWLPDOIÖU6LHHLQJHVWHOOW
*HZÖQVFKWH(LQVWHOOXQJHQHUIROJHQYRP0RELOWHLODXV

$Q]DKOGHU5XIWÐQH
*HEÖKUHQVSDUIXQNWLRQ
z¨b
¨RGHUs

(LQVWHOOXQJHLQOHLWHQ
6LHNÐQQHQ]ZLVFKHQELV5XIWÐQHQXQGGHU*HEÖKUHQVSDUIXQNWLRQ
Z¾KOHQ,VWGLH*HEÖKUHQVSDUIXQNWLRQHLQJHVWHOOWHUNHQQHQ6LHRE
QHXH1DFKULFKWHQYRUKDQGHQVLQG
'HU$QUXIEHDQWZRUWHUZLUGDNWLYQDFK
● 5XIWÐQHQHVVLQGQHXH1DFKULFKWHQYRUKDQGHQ
● 5XIWÐQHQHVVLQGNHLQHQHXHQ1DFKULFKWHQYRUKDQGHQ

/LHIHU]XVWDQG*HEÖKUHQVSDUIXQNWLRQ  
b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

1DFKULFKWHQO¾QJH
z¸b

(LQVWHOOXQJHLQOHLWHQ
/LHIHU]XVWDQG6HNXQGHQ

¸

6HNXQGHQ

s

6HNXQGHQ

·

6HNXQGHQ

u

XQEHJUHQ]W

b€



(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

DEHLQVWBVWDQGIP



$QUXIEHDQWZRUWHULQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ

zsb
¨RGHU¸

3DXVHQDFK:LHGHUJDEHHLQHU
1DFKULFKW
(LQVWHOOXQJHLQOHLWHQ
6FKDOWHQ6LHGLHVH)XQNWLRQHLQ  VFKDOWHWGHU$QUXIEHDQWZRUWHU
QDFKMHGHUZLHGHUJHJHEHQHQ1DFKULFKWLQGHQ3DXVHQ]XVWDQG
/LHIHU]XVWDQGNHLQH3DXVH 

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

=HLWDQJDEHIÖUMHGH1DFKULFKW
z·b
¨RGHU¸

(LQVWHOOXQJHLQOHLWHQ
6LHNÐQQHQGLH=HLWDQJDEHDXVVFKDOWHQ  
/LHIHU]XVWDQG1DFKULFKWPLW=HLWDQJDEH  

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

0LWKÐUHQDQGHU%DVLV
zub
¨RGHU¸

(LQVWHOOXQJHLQOHLWHQ
:HQQ6LHZ¾KUHQGGHU$XIQDKPHHLQHU1DFKULFKWQLFKWPLWKÐUHQZRO
OHQ  
/LHIHU]XVWDQG0LWKÐUHQHLQJHVFKDOWHW  

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

'XUFKVDJH 'LUHNWDQVSUHFKHQ
z†b
¨RGHU¸

(LQVWHOOXQJHLQOHLWHQ
:LUGGHU$QUXIEHDQWZRUWHUÖEHUHLQ0RELOWHLORGHUHLQH[WHUQHV7HOH
IRQIHUQEHGLHQWNDQQGHU$QUXIHQGHÖEHUGHQ/DXWVSUHFKHUGHU%DVLV
VWDWLRQHLQH'XUFKVDJHPDFKHQGLHQLFKWDXIJH]HLFKQHWZLUG+DQGHOW
HVVLFKXPHLQHQH[WHUQHQ$QUXINDQQGHU$QUXIZ¾KUHQGGHU'XUFK
VDJHPLWMHGHP0RELOWHLODQJHQRPPHQZHUGHQ6LHNÐQQHQGLHVH
)XQNWLRQDEVFKDOWHQ  
/LHIHU]XVWDQG'LUHNWDQVSUHFKHQHUODXEW  

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

DEHLQVWBVWDQGIP



$QUXIEHDQWZRUWHULQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ
zxb
¸·

$XI]HLFKQXQJVTXDOLW¾W
(LQVWHOOXQJHLQOHLWHQ
'LHPÐJOLFKH$XIQDKPH]HLWK¾QJWYRQGHU$XI]HLFKQXQJVTXDOLW¾WDE
6LHNÐQQHQZ¾KOHQ]ZLVFKHQODQJHU$XIQDKPH]HLW  KRKHU4XDOLW¾W
 XQG$XWRPDWLN  
,P$XWRPDWLN0RGXVVFKDOWHWGHU$QUXIEHDQWZRUWHUDXWRPDWLVFKYRQ
KRKHU4XDOLW¾WDXIODQJH$XIQDKPH]HLWXPZHQQGHU6SHLFKHUNQDSS
ZLUG'DEHLZHUGHQDOOHELVKHUHLQJHJDQJHQHQ1DFKULFKWHQNRPSUL
PLHUW
/LHIHU]XVWDQG$XWRPDWLN  

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

®



:¾KUHQGGHU.RPSULPLHUXQJLVWNHLQH%HGLHQXQJGHV$QUXI
EHDQWZRUWHUVPÐJOLFKXQG$QUXIHNÐQQHQQLFKWDXIJH]HLFK
QHWZHUGHQ%HL%HW¾WLJXQJHLQHU7DVWHDQGHU%DVLVKÐUHQ6LH
HLQHQ)HKOHUWRQ DXVJHQRPPHQ3DJLQJWDVWH 

*LJDVHW&ODVVLF,QODQG$*%

PRELOWIP



0RELOWHLOLQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ

0RELOWHLOLQGLYLGXHOO
HLQVWHOOHQ
5XIWRQODXWVW¾UNHHLQVWHOOHQ

v

6LHNÐQQHQ]ZLVFKHQ5XIWRQODXWVW¾UNHQ .OLQJHOQ XQGGHP
d&UHVFHQGRo5XI /DXWVW¾UNHQLPPW]X Z¾KOHQ

zv
] %u

b

)XQNWLRQHLQOHLWHQrGHUDNWXHOOH5XIWRQHUWÐQW
1XPPHUGHUJHZÖQVFKWHQ5XIWRQODXWVW¾UNHHLQJHEHQ
/DXWVW¾UNH6WXIHQ ELV&UHVFHQGR 
(LQVWHOOXQJVSHLFKHUQ

5XIWRQPHORGLHHLQVWHOOHQ

†

6LHNÐQQHQ]ZLVFKHQ5XIWRQPHORGLHQZ¾KOHQ

z†

)XQNWLRQHLQOHLWHQrGHUDNWXHOOH5XIWRQHUWÐQW

] %·

*HZÖQVFKWH5XIWRQPHORGLH ELV HLQJHEHQ

b

(LQVWHOOXQJVSHLFKHUQ

+ÐUHUODXWVW¾UNHHLQVWHOOHQ
6LHNÐQQHQGLH+ÐUHUODXWVW¾UNH /DXWVW¾UNHGHV*HVSU¾FKV LQ
6WXIHQHLQVWHOOHQrDXFKZ¾KUHQGGHV*HVSU¾FKV

z¸¨b
] %s

)XQNWLRQHLQOHLWHQ
*HZÖQVFKWH+ÐUHUODXWVW¾UNH RGHU HLQJHEHQ

b

(LQVWHOOXQJVSHLFKHUQ

€

)XQNWLRQEHHQGHQ LP*HVSU¾FKV]XVWDQGQLFKWGUÖFNHQ 

7ÐQHHLQDXVVFKDOWHQ
6LHNÐQQHQIROJHQGH:DUQXQG6LJQDOWÐQHHLQDXVVFKDOWHQ
● 4XLWWXQJVWÐQH%HVW¾WLJXQJVWRQ 7RQ DP(QGHYRQ(LQJDEHQ

(LQVWHOOXQJHQ)HKOHUWRQ NXU]H7ÐQH EHL)HKOHLQJDEHQ

● 7DVWHQNOLFN-HGHU7DVWHQGUXFNZLUGEHVW¾WLJW
● $NNXZDUQWRQ'HU$NNXPX¹JHODGHQZHUGHQ



*LJDVHW&ODVVLF,QODQG$*%

PRELOWIP



0RELOWHLOLQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ
z¸·b
] %¨

b€

4XLWWXQJVWÐQHDXVHLQVFKDOWHQ
(LQVWHOOXQJHLQOHLWHQ
]%4XLWWXQJVWÐQHDXVVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ
7DVWHQNOLFNDXVHLQVFKDOWHQ

z¸ub
] %¨

b€

(LQVWHOOXQJHLQOHLWHQrGLHDNWXHOOH(LQVWHOOXQJZLUGDQJH]HLJW
]%7DVWHQNOLFNDXVVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ
$NNXZDUQWRQDXVHLQVFKDOWHQ
'HU$NNXZDUQWRQHUWÐQWZHQQGHU$NNXLP0RELOWHLOHLQHQEHVWLPP
WHQ/DGH]XVWDQGXQWHUVFKUHLWHW

z¸vb
] %¨

b€

(LQVWHOOXQJHLQOHLWHQ
]%$NNXZDUQWRQDXVVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 
$NNXZDUQWRQQXULP*HVSU¾FKV]XVWDQG 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

$Q]HLJHGHU%DVLVVWDWLRQHLQ
DXVVFKDOWHQ
,VWGLH$Q]HLJHHLQJHVFKDOWHWZLUGLP5XKH]XVWDQGGLHPRPHQWDQ
JÖOWLJH%DVLVVWDWLRQDQJH]HLJW]%rr

z¸†b
] %¸

b€

(LQVWHOOXQJHLQOHLWHQ
]%$Q]HLJHHLQVFKDOWHQ
(LQVFKDOWHQ $XVVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

$XWRPDWLVFKH5XIDQQDKPH
%HLHLQJHVFKDOWHWHU)XQNWLRQQHKPHQ6LHGDV0RELOWHLO]XP$QQHK
PHQHLQHV$QUXIVDXVGHU%DVLVVWDWLRQ/DGHVFKDOH

z¸xb



(LQVWHOOXQJHLQOHLWHQ

] %¨

]%DXWRPDWLVFKH5XIDQQDKPHDXVVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

PRELOWIP



0RELOWHLOLQGLYLGXHOOHLQVWHOOHQ
7DVWHQGUÖFNHQ

,QGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQ
%HLP5ÖFNVHW]HQZLUGGLH7HOHIRQ3,1QLFKWJH¾QGHUW
'LH$QPHOGXQJHQDQ%DVLVVWDWLRQHQEOHLEHQHUKDOWHQ
/LHIHU]XVWDQGGHV0RELOWHLOV

z¸yb
7HOHIRQ3,1b

¨ b€

.XU]ZDKOQXPPHUQ:DKOZLHGHUKROXQJ
'LUHNWUXIQXPPHU

JHOÐVFKW

+ÐUHUODXWVW¾UNH5XIWRQPHORGLH



5XIWRQODXWVW¾UNH



$XWRPDWLVFKH5XIDQQDKPH7DVWHQNOLFN
$NNXZDUQWRQ4XLWWXQJVWÐQH

(LQ

$Q]HLJHGHU%DVLVVWDWLRQ7HOHIRQVSHUUH

$XV

(LQVWHOOXQJHLQOHLWHQ
7HOHIRQ3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
,Q/LHIHU]XVWDQG]XUÖFNVHW]WHQXQG)XQNWLRQEHHQGHQ

$QZHLWHUHQ%DVLVVWDWLRQHQDQPHOGHQ
6LHNÐQQHQ,KU0RELOWHLODQ%DVLVVWDWLRQHQQXW]HQ

®

$QPHOGXQJDP*LJDVHW VLHKH6HLWH

%DVLVVWDWLRQZHFKVHOQ
9RUDXVVHW]XQJ'DV0RELOWHLOLVWDQPHKUHUHQ%DVLVVWDWLRQHQDQJH
PHOGHW
6LHNÐQQHQ]ZLVFKHQIROJHQGHQ(LQVWHOOXQJHQZ¾KOHQ
● 0RELOWHLODXIDXWRPDWLVFKHQ:HFKVHO /LHIHU]XVWDQG ]XUMHZHLOV

VW¾UNVWHQ6WDWLRQHLQVWHOOHQ

● 0RELOWHLODXIHLQHEHYRU]XJWH%DVLVVWDWLRQHLQVWHOOHQrZLUGGLHVH

QLFKWJHIXQGHQZLUGQDFK6HNXQGHQQDFKDQGHUHQ%DVLVVWDWLR
QHQJHVXFKW

● 0RELOWHLODXIHLQH%DVLVVWDWLRQIHVWHLQVWHOOHQ

z{
] %¸

¸

6SHLFKHU7DVWHGDQDFK,QWHUQ7DVWHGUÖFNHQ
]%6WDWLRQDOVEHYRU]XJWH6WDWLRQHLQVWHOOHQ
)ÖUDXWRPDWLVFKHQ:HFKVHO¨HLQJHEHQ
)ÖU6WDWLRQEHYRU]XJW6WDWLRQVQXPPHU[HLQJHEHQ
)ÖU6WDWLRQIHVW6WDWLRQVQXPPHU[HLQJHEHQ

b€

(LQJDEHVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

EDVLVVWIP



%DVLVVWDWLRQHLQVWHOOHQ
7DVWHQGUÖFNHQ

%DVLVVWDWLRQHLQVWHOOHQ
$OOH(LQVWHOOXQJHQIÖUGLH%DVLVVWDWLRQZHUGHQÖEHUGDV0RELOWHLO
GXUFKJHIÖKUW

5XIWRQODXWVW¾UNHHLQVWHOOHQ
6LHNÐQQHQ]ZLVFKHQ5XIWRQODXWVW¾UNHQGHPd&UHVFHQGRo5XI
/DXWVW¾UNHQLPPW]X XQG5XIWRQDXVZ¾KOHQ
z¨vb
] %u

b€

(LQVWHOOXQJHLQOHLWHQrGHU5XIWRQHUWÐQWGLHDNWXHOOH(LQVWHOOXQJZLUG
DQJH]HLJW
1XPPHUGHUJHZÖQVFKWHQ5XIWRQODXWVW¾UNHHLQJHEHQ
/DXWVW¾UNH6WXIHQ ELV
&UHVFHQGR 
5XIWRQDXVJHVFKDOWHW 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

5XIWRQPHORGLHHLQVWHOOHQ
6LHNÐQQHQ]ZLVFKHQ5XIWRQPHORGLHQZ¾KOHQ
z¨†b
] %·
b€

(LQVWHOOXQJHLQOHLWHQrGLH0HORGLHHUWÐQWGLHDNWXHOOH(LQVWHOOXQJZLUG
DQJH]HLJW
*HZÖQVFKWH5XIWRQPHORGLH ELV HLQJHEHQ
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

7DVWHQNOLFNHLQVWHOOHQ
z·~b
6\VWHP3,1b
] %¨
b€



(LQVWHOOXQJHLQOHLWHQrGLHDNWXHOOH(LQVWHOOXQJZLUGDQJH]HLJW
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
]%7DVWHQNOLFNDXVVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

EDVLVVWIP



%DVLVVWDWLRQHLQVWHOOHQ
7DVWHQGUÖFNHQ

:DUWHPHORGLHHLQDXVVFKDOWHQ
'LH:DUWHPHORGLHKÐUWHLQ$QUXIHULPd+DOWHo=XVWDQG
]%EHLLQWHUQHU5ÖFNIUDJH

zu·b
6\VWHP3,1b
] %¨
b€

(LQVWHOOXQJHLQOHLWHQ
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
]%:DUWHPHORGLHHLQVFKDOWHQ
$XVVFKDOWHQ (LQVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

3DXVHQ]HLWHQHLQVWHOOHQ
3DXVHQDFK%HOHJHQGHU/HLWXQJ
0LWGLHVHU)XQNWLRQNÐQQHQ6LHGLH/¾QJHGHU3DXVHHLQVWHOOHQGLH
QDFK'UÖFNHQGHU$EKHEHQ7DVWHDLPPHUDXWRPDWLVFKHLQJHIÖJW
ZLUGEHYRUGLH5XIQXPPHUJHVHQGHWZLUG
zuvb
6\VWHP3,1b
] %s
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
3DXVHQO¾QJHHLQJHEHQ
6HNXQGH 6HNXQGHQ 6HNXQGHQ 6HNXQGHQ 
(LQVWHOOXQJEHVW¾WLJHQXQG)XQNWLRQEHHQGHQ

3DXVHQDFK57DVWH
0LWGLHVHU)XQNWLRQNÐQQHQ6LHGLH/¾QJHGHU3DXVHHLQVWHOOHQGLH
QDFK'UÖFNHQGHU6LJQDOWDVWH4HLQJHIÖJWZLUG
zu†b
6\VWHP3,1b
] %¸
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
3DXVHQO¾QJHHLQJHEHQ
6HNXQGHQ 6HNXQGHQ 6HNXQGHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



EDVLVVWIP

*LJDVHW&ODVVLF,QODQG$*%



%DVLVVWDWLRQHLQVWHOOHQ
7DVWHQGUÖFNHQ

,QGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQ
%HLP5ÖFNVHW]HQZLUGGLH6\VWHP3,1QLFKWJH¾QGHUWXQGGLH
$QPHOGXQJGHU0RELOWHLOHEOHLEWHUKDOWHQ6LHNÐQQHQZ¾KOHQ
● $OOHVLQGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQVLHKHQDFKIROJHQGH

7DEHOOH

● 1XU$QUXIHUOLVWHOÐVFKHQ
● 1XU.RVWHQ(LQKHLWHQOÐVFKHQ

/LHIHU]XVWDQGGHU%DVLVVWDWLRQ

z·}b



5XIWRQPHORGLH



3UHLVSUR(LQKHLW



5XIQXPPHUQVSHUUHQ]XODVVHQ
6\VWHPVSHUUHOHW]WH*HVSU¾FKVNRVWHQ

$XV

1XPPHUIÖU6SHUUHQ=XODVVHQ
7DVFKHQJHOGNRQWHQ
*HVSHLFKHUWH1RWUXIQXPPHUQ

*HOÐVFKW

([WHUQH:DKO DOOH0RELOWHLOH

0ÐJOLFK

:DKOYHUIDKUHQ

%5'
°VWHUUHLFK

0)9)ODVK PV
0)9)ODVKHLQVWHOOEDU

)ODVK]HLW
DQ7HOHIRQDQODJHQ

%5'
°VWHUUHLFK

PV
PV

3DXVHQDFK57DVWH

PV

3DXVHQDFK%HOHJHQGHU/HLWXQJ 
([WHUQ.HQQ]DKO

V

(LQVWHOOXQJHLQOHLWHQ

6\VWHP3,1b

6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 

¨

] %$XVOLHIHU]XVWDQGZLHGHUKHUVWHOOHQ
/LHIHU]XVWDQGKHUVWHOOHQ $QUXIHUOLVWHOÐVFKHQ 
.RVWHQ(LQKHLWHQOÐVFKHQ 

b€



5XIWRQODXWVW¾UNH

/ÐVFKHQEHVW¾WLJHQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

VLFKHU07IP



6LFKHUKHLWDP0RELOWHLO
7DVWHQGUÖFNHQ

L

6LFKHUKHLWDP0RELOWHLO
6LHNÐQQHQGLH7HOHIRQ3,1¾QGHUQHLQHQ'LUHNWUXIHLQULFKWHQRGHU,KU
7HOHIRQ 0RELOWHLO VSHUUHQ

7HOHIRQ3,1¾QGHUQ
:LFKWLJH)XQNWLRQHQ(LQVWHOOXQJHQGHV0RELOWHLOVVLQGGXUFKGLH7HOH
IRQ3,1 3HUVÐQOLFKH,GHQWLILNDWLRQVQXPPHU JHVFKÖW]W

®
z¸sb

'LH3,1VROOWHQ6LHVLFKJXWPHUNHQ6LHNDQQQXUGXUFK
HLQHQ$QUXIEHLGHU6LHPHQV+RWOLQH]XUÖFNJHVHW]WZHUGHQ
VLHKH6HLWH

)XQNWLRQHLQOHLWHQrIROJHQGHVZLUGDQJH]HLJW

!"

1GJ@@@@
+LQZHLVDXI3,1(LQJDEH
YRUKHUHLQJHJHEHQH)XQNWLRQVNHQQ]DKO

7HOHIRQ3,1b

$NWXHOOH7HOHIRQ3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 

[1HXH3,1

1HXH7HOHIRQ3,1]ZHLPDOHLQJHEHQ =LIIHUQQDFKMHGHU=LIIHUZLUG
HLQ6WULFKJHOÐVFKW 

b

1HXH7HOHIRQ3,1EHVW¾WLJHQrGHU%HVW¾WLJXQJVWRQHUWÐQWGLHQHXH
3,1LVWJHVSHLFKHUW

€

)XQNWLRQEHHQGHQ

'LUHNWUXIHLQVFKDOWHQ
%HLDNWLYLHUWHP'LUHNWUXIOÐVWMHGHU7DVWHQGUXFNHLQHQ5XI]XUJH
VSHLFKHUWHQ'LUHNWUXIQXPPHUDXV6RNDQQMHPDQGHLQHQ+LOIHUXIDE
VHQGHQ
0LWGHUQDFKIROJHQGHQ%HGLHQIROJHNÐQQHQ6LH'LUHNWUXIQXPPHUQ
VSHLFKHUQ¾QGHUQRGHUJDQ]OÐVFKHQ
z¸¸b
7HOHIRQ3,1b
sb
P

b€

)XQNWLRQHLQOHLWHQ
7HOHIRQ3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
7DVWHQGUÖFNHQ
'LUHNWUXIQXPPHUHLQJHEHQ
*JIPLW|NRUULJLHUHQRGHUOÐVFKHQ
$Q7HOHIRQDQODJHQ([WHUQ.HQQ]DKOQLFKWYHUJHVVHQ
1XPPHUVSHLFKHUQrGHU%HVW¾WLJXQJVWRQHUWÐQWGHU'LUHNWUXILVW
DNWLYLHUWGLH'LUHNWUXIQXPPHUXQG £ ZHUGHQDQJH]HLJW



*LJDVHW&ODVVLF,QODQG$*%

VLFKHU07IP



6LFKHUKHLWDP0RELOWHLO
7DVWHQGUÖFNHQ

®

● ,VWNHLQH'LUHNWUXIQXPPHUJHVSHLFKHUW $Q]HLJH_ VR

ZLUGQDFK'UÖFNHQYRQbGLH7HOHIRQVSHUUHHLQJHVFKDOWHW
r$Q]HLJH £ 
● 'LUHNWUXIQXPPHU7HOHIRQVSHUUHDXVVFKDOWHQVLHKH
XQWHQ

7HOHIRQVSHUUHHLQVFKDOWHQ
%HLHLQJHVFKDOWHWHU7HOHIRQVSHUUH 0RELOWHLOVSHUUH VLQGELVDXIGHQ
1RWUXIDOOH)XQNWLRQHQJHVSHUUW6LHEOHLEHQMHGRFKdHUUHLFKEDUpXQG
NÐQQHQ$QUXIHPLWGHU$EKHEHQ7DVWHDDQQHKPHQ
z¸¸b
7HOHIRQ3,1b
¸
b

)XQNWLRQHLQOHLWHQ
7HOHIRQ3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
7HOHIRQVSHUUHHLQVFKDOWHQ
(LQVWHOOXQJVSHLFKHUQrGHU%HVW¾WLJXQJVWRQHUWÐQW
]HLJW

£ ZLUGDQJH

1RWUXIQXPPHUZ¾KOHQ
9RUDXVVHW]XQJ6LHKDEHQGLH1RWUXIQXPPHULQGHU%DVLVVWDWLRQJH
VSHLFKHUWVLHKH6HLWHXQGGDV0RELOWHLOLVWJHVSHUUW
D

$EKHEHQ7DVWHGUÖFNHQ

P

1RWUXIQXPPHUHLQJHEHQ] %

7HOHIRQVSHUUH'LUHNWUXIDXVVFKDOWHQ
®
z¸¸b
7HOHIRQ3,1b
¨
b€



%HLHLQJHVFKDOWHWHP'LUHNWUXIPÖVVHQ6LHQDFKIROJHQGH
%HGLHQVFKULWWH]ÖJLJGXUFKIÖKUHQXPGLH:DKOGHV'LUHNW
UXIV]XYHUPHLGHQ

)XQNWLRQHLQOHLWHQ
7HOHIRQ3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
7HOHIRQVSHUUH'LUHNWUXIDXVVFKDOWHQ
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

VLFKHU%6IP



6LFKHUKHLWDQGHU%DVLVVWDWLRQ
7DVWHQGUÖFNHQ

Ÿ

6LFKHUKHLWDQGHU%DVLVVWDWLRQ
6\VWHP3,1GHU%DVLVVWDWLRQ¾QGHUQ

z¨xb
6\VWHP3,1b
[1HXH3,1
b
€

)XQNWLRQHLQOHLWHQ
$NWXHOOH6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
1HXH6\VWHP3,1 =LIIHUQ ]ZHLPDOHLQJHEHQ
1HXH3,1GHU%DVLVVWDWLRQEHVW¾WLJHQrGHU%HVW¾WLJXQJVWRQHUWÐQW
GLHQHXH3,1LVWJHVSHLFKHUW
)XQNWLRQEHHQGHQ

6\VWHPVSHUUHHLQDXVVFKDOWHQ
%HLHLQJHVFKDOWHWHU6\VWHPVSHUUHVLQGDEJHKHQGHH[WHUQH$QUXIH
IÖUDOOH0RELOWHLOHJHVSHUUW
*HVSHLFKHUWH1RWUXIQXPPHUQNÐQQHQJHZ¾KOWZHUGHQ
z¨¨b
6\VWHP3,1b
] %s
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
]%6\VWHPVSHUUHHLQVFKDOWHQ
(LQVFKDOWHQ $XVVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

VLFKHU%6IP



6LFKHUKHLWDQGHU%DVLVVWDWLRQ
7DVWHQGUÖFNHQ

5XIQXPPHUQVSHUUHQ]XODVVHQ
0LWGLHVHU)XQNWLRQNÐQQHQ6LHGDV:¾KOHQYRQEHVWLPPWHQ5XI
QXPPHUQVSHUUHQ] %DOOH$XVODQGVQXPPHUQ  6LHNÐQQHQ
DEHUDXFK]XODVVHQGD¹QXUGLHVH1XPPHUQJHZ¾KOWZHUGHQNÐQ
QHQ'DV6SHUUHQ=XODVVHQJLOWIÖUDOOH0RELOWHLOH
$OOHJHZ¾KOWHQH[WHUQHQ1XPPHUQZHUGHQJHSUÖIW%HLP6SHUUHQ
ZLUGEHL¶EHUHLQVWLPPXQJGLH:DKODEJHEURFKHQXQGGLHJHVSHUUWHQ
1XPPHUQZHUGHQDQJH]HLJW+DEHQ6LHGLH1XPPHU]XJHODVVHQLVW
HVXPJHNHKUW

1XPPHUQVSHLFKHUQ¾QGHUQOÐVFKHQ
6LHNÐQQHQ1XPPHUQVSHLFKHUQ'LH1XPPHUQNÐQQHQ6LHMHGHU
]HLWDQ]HLJHQ¾QGHUQXQGOÐVFKHQ
z¨¸b
6\VWHP3,1b

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rHVZLUG
GHU(LQWUDJDQJH]HLJW
] %

!!_
/HHU]HLFKHQRGHU5XIQXPPHU
6SHLFKHUSODW] ELV
YRUKHUHLQJHJHEHQH)XQNWLRQV
QXPPHU

*JIPLWaELV]XPJHZÖQVFKWHQ(LQWUDJ 6SHLFKHUSODW] EO¾WWHUQ
b
P

b€

$QJH]HLJWHQ(LQWUDJDXVZ¾KOHQ
5XIQXPPHUHLQJHEHQ] %]XP6SHUUHQYRQ$XVODQGVJHVSU¾
FKHQRGHU¾QGHUQ
*JI1XPPHUPLW|OÐVFKHQ
(LQWUDJVSHLFKHUQXQG)XQNWLRQEHHQGHQXQGQXQQRFKGDV6SHUUHQ
=XODVVHQHLQVFKDOWHQZLHQDFKIROJHQGEHVFKULHEHQ

6SHUUHQ=XODVVHQHLQDXVVFKDOWHQ
z¨¨b
6\VWHP3,1b
] %¸

b€



)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
]%1XPPHUQVSHUUHQ
1XPPHUQVSHUUHQ 
1XPPHUQ]XODVVHQ 
1XPPHUQVSHUUHQ]XODVVHQDXVVFKDOWHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

VLFKHU%6IP



6LFKHUKHLWDQGHU%DVLVVWDWLRQ
7DVWHQGUÖFNHQ

1RWUXIQXPPHUQVSHLFKHUQ
'LH1RWUXIQXPPHUQXQGVLQGEHUHLWVJHVSHLFKHUW
=XV¾W]OLFKNÐQQHQ6LHZHLWHUH1RWUXIQXPPHUQVSHLFKHUQ
'LH1RWUXIQXPPHUQJHOWHQIÖUDOOH0RELOWHLOH

®

'LH:DKOHLQHU1RWUXIQXPPHULVWDXFKEHLHLQJHVWHOOWHQ
6SHUUHQRGHUDEJHODXIHQHP7DVFKHQJHOGNRQWRPÐJOLFK

1RWUXIQXPPHUQVSHLFKHUQ¾QGHUQOÐVFKHQ
z¨sb
6\VWHP3,1b

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGHU
 (LQWUDJZLUGDQJH]HLJW
] %

!!_
/HHU]HLFKHQRGHU5XIQXPPHU
6SHLFKHUSODW] ELV
YRUKHUHLQJHJHEHQH)XQNWLRQV
QXPPHU

*JIPLWaELV]XPJHZÖQVFKWHQ(LQWUDJ 6SHLFKHUSODW] EO¾WWHUQ
b
P
b€

$QJH]HLJWHQ(LQWUDJDXVZ¾KOHQ
1RWUXIQXPPHU ELV]X6WHOOHQ HLQJHEHQRGHU¾QGHUQ
*JI1XPPHUPLW|OÐVFKHQ
(LQWUDJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



PHKUH07VIP

*LJDVHW&ODVVLF,QODQG$*%



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

L L L






0HKUHUH0RELOWHLOHQXW]HQ
:HLWHUH0RELOWHLOHDQPHOGHQ
®

● $QGLH%DVLVVWDWLRQ*LJDVHWNÐQQHQ6LHELV]X0R

ELOWHLOHDQPHOGHQXQGQXW]HQ

● -HGHV0RELOWHLO*LJDVHW &ODVVLFNÐQQHQ6LHDQELV]X

%DVLVVWDWLRQHQDQPHOGHQ

0RELOWHLO*LJDVHW&ODVVLFDQPHOGHQ

®

'DVPLWJHOLHIHUWH0RELOWHLOLVWEHUHLWVDQGHU%DVLVVWDWLRQDQ
JHPHOGHW

6FKULWW
z{~
] %¸b

$QPHOGHQHLQOHLWHQrGLH1XPPHUQGHU%DVLVVWDWLRQHQZHUGHQDQJH
]HLJW
1XPPHUGHU%DVLVVWDWLRQHLQJHEHQXQGPLWbEHVW¾WLJHQ
%DVLVVWDWLRQ %DVLVVWDWLRQ 
%DVLVVWDWLRQ %DVLVVWDWLRQ 

®
6\VWHP3,1b

1RUPDOHUZHLVHJHEHQ6LHEHLGHUHUVWHQ$QPHOGXQJIÖU%D
VLVVWDWLRQHLQ%HL$QPHOGXQJGHV0RELOWHLOVDQZHLWHUHQ%D
VLVVWDWLRQHQ] %LQGHU)LUPDJHEHQ6LHGDQQRGHUDOV
1XPPHUGHU%DVLVVWDWLRQHLQ

6\VWHP3,1GHU%DVLVVWDWLRQHLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG
 rGDV6WDWLRQVV\PERO EOLQNW



6FKULWW
$Q%DVLVVWDWLRQ !

7DVWHDQGHU%DVLVVWDWLRQVRODQJHGUÖFNHQELVHLQ6LJQDOWRQDQGHU
%DVLVVWDWLRQHUWÐQW HWZD6HNXQGHQGUÖFNHQ rQDFKHLQLJHQ6H
NXQGHQZHUGHQGLHQRFKIUHLHQLQWHUQHQ5XIQXPPHUQDQJH]HLJW] %
 GLH1XPPHUKDWGDVPLWJHOLHIHUWH0RELOWHLO 
6FKULWW

] %s

,QWHUQH5XIQXPPHUGHVZHLWHUHQ0RELOWHLOVHLQJHEHQrEHLHUIROJ
UHLFKHU$QPHOGXQJZLUGGDV6WDWLRQVV\PERO GDXHUQGDQJH]HLJW
EOLQNWQLFKWPHKU 



,KU0RELOWHLOLVWHLQVDW]EHUHLW



*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

0RELOWHLO*LJDVHW&RPIRUWDQPHOGHQ
6FKULWW



0HQÖ7DVWHGUÖFNHQ

<6WDWLRQHQÖÖÖÖ =

)XQNWLRQDXVZ¾KOHQ

<

%DVLVVWDWLRQDXVZ¾KOHQ

®
9
<$QPHOGHQÖÖÖÖÖ =

6\VWHP3,1=

1RUPDOHUZHLVHZ¾KOHQ6LHEHLGHUHUVWHQ$QPHOGXQJGLH
%DVLVVWDWLRQDXV%HL$QPHOGXQJGHV0RELOWHLOVDQZHLWHUHQ
%DVLVVWDWLRQHQ] %LQGHU)LUPDZ¾KOHQ6LHGDQQGLH%DVLV
VWDWLRQRGHUDXV

=XVDW]PHQÖDXIUXIHQ
)XQNWLRQDXVZ¾KOHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG r] %$QPHOGHYRUJDQJ6WDWLRQ ZLUGDQ
JH]HLJW
6FKULWW

$Q%DVLVVWDWLRQ !

7DVWHDQGHU%DVLVVWDWLRQVRODQJHGUÖFNHQELVHLQ6LJQDOWRQDQGHU
%DVLVVWDWLRQHUWÐQW HWZD6HNXQGHQGUÖFNHQ rQDFKHLQLJHQ6H
NXQGHQZHUGHQGLHQRFKIUHLHQLQWHUQHQ5XIQXPPHUQDQJH]HLJW] %
 GLH1XPPHUKDWGDVPLWJHOLHIHUWH0RELOWHLO 
6FKULWW

] %s

*HZÖQVFKWHLQWHUQH5XIQXPPHUGHV0RELOWHLOVHLQJHEHQrEHLHU
IROJUHLFKHU$QPHOGXQJZLUGGHU6WDWLRQVQDPH] %6WDWLRQ
GDXHUQGDQJH]HLJW EOLQNWQLFKWPHKU 
,KU0RELOWHLOLVWHLQVDW]EHUHLW



*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

®

● *LJDVHWDQPHOGHQ

:LH6LHGLHVH0RELOWHLOHYRUEHUHLWHQHQWQHKPHQ6LHELWWHGHU
%HGLHQXQJVDQOHLWXQJGLHVHU0RELOWHLOH
● d)UHPGHo0RELOWHLOHDQPHOGHQ

9RUDXVVHW]XQJ'DV0RELOWHLODQGHUHU+HUVWHOOHUXQWHUVWÖW]W
GHQ*$36WDQGDUG
*$3 *HQHULF$FFHVV3URILOH LVWHLQ6WDQGDUGIÖUGDV=XVDP
PHQZLUNHQYRQVFKQXUORVHQ7HOHIRQHQXQG%DVLVVWDWLRQHQ
/HVHQ6LHLQGHU%HGLHQXQJVDQOHLWXQJGHVDQ]XPHOGHQGHQ
0RELOWHLOVQDFKZLHPDQGLHVHVDQHLQHU*$3%DVLVVWDWLRQ
DQPHOGHW
$Q%DVLVVWDWLRQ !

,KUH%DVLVVWDWLRQ]XU$QPHOGXQJYRUEHUHLWHQ
7DVWHDQGHU%DVLVVWDWLRQVRODQJHGUÖFNHQELVHLQ6LJQDO
WRQDQGHU%DVLVVWDWLRQHUWÐQW HWZD6HNXQGHQGUÖFNHQ 
,KUH6LHPHQV%DVLVVWDWLRQZHLVWGHP0RELOWHLOQDFKGHP$Q
PHOGHQGLHHUVWHIUHLHLQWHUQH5XIQXPPHU]X

,QWHUQDQUXIHQ
,QWHUQH$QUXIHIÖKUHQ6LHPLW,KUHQDQGHUHQDQJHPHOGHWHQ0RELOWHL
OHQrNRVWHQORV
{
] %s

€

,QWHUQ7DVWHGUÖFNHQrGLHLQWHUQH5XIQXPPHUGHV0RELOWHLOVZLUGDQ
JH]HLJW
,QWHUQH5XIQXPPHUGHVJHZÖQVFKWHQ0RELOWHLOVHLQJHEHQ
$OOH0RELOWHLOHDQUXIHQ
*HVSU¾FKEHHQGHQ
$XIOHJHQ7DVWHGUÖFNHQ

*HVSU¾FKZHLWHUJHEHQ
6LHNÐQQHQHLQH[WHUQHV*HVSU¾FKDQHLQDQGHUHV0RELOWHLOZHLWHUJH
EHQ YHUELQGHQ 
{
] %s
€



,QWHUQ7DVWHGUÖFNHQrGHUH[WHUQH7HLOQHKPHUKÐUWGLH:DUWHPHORGLH
,QWHUQH5XIQXPPHUGHV0RELOWHLOVZ¾KOHQ
:HQQVLFKGHU7HLOQHKPHUPHOGHW
$XIOHJHQ7DVWHGUÖFNHQXPGDV*HVSU¾FKZHLWHU]XJHEHQ

*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

,QWHUQH5ÖFNIUDJH
6LHWHOHIRQLHUHQPLWHLQHPH[WHUQHQ7HLOQHKPHU2KQHGLHVH9HUELQ
GXQJDE]XEUHFKHQNÐQQHQ6LHHLQHQDQGHUHQLQWHUQHQ7HLOQHKPHUDQ
UXIHQXQGHLQH5ÖFNIUDJHIÖKUHQ%HHQGHQ6LHGLH5ÖFNIUDJHVLQG6LH
ZLHGHUPLWGHPH[WHUQHQ7HLOQHKPHUYHUEXQGHQ

{
] %s
4

'HUH[WHUQH7HLOQHKPHU *HVSU¾FK ZLUGJHKDOWHQXQGKÐUWGLH:DUWH
PHORGLH
,QWHUQH5XIQXPPHUGHV0RELOWHLOVZ¾KOHQ
$OOH0RELOWHLOHDQUXIHQ~
5ÖFNIUDJHEHHQGHQXP]XP:DUWHQGHQ]XUÖFN]XVFKDOWHQ

$QNORSIHQGHQ$QUXIDQQHKPHQ
:HQQ6LHZ¾KUHQGHLQHVLQWHUQHQ*HVSU¾FKVHLQHQH[WHUQHQ$QUXIHU
KDOWHQKÐUHQ6LHGHQ$QNORSIWRQ NXU]HU7RQ DP'LVSOD\EOLQNW(;7
€

$XIOHJHQ7DVWHGUÖFNHQrGDVLQWHUQH*HVSU¾FKZLUGEHHQGHWDXI
H[WHUQHV*HVSU¾FKZDUWHQ DXWRP$QUXI 

D

:HQQGDV0RELOWHLOdNOLQJHOWoH[WHUQHV*HVSU¾FKDQQHKPHQ

RGHU
4

7DVWHQGUÖFNHQrGDVLQWHUQH*HVSU¾FKZLUGEHHQGHW6LHVLQGVR
IRUWPLWGHPH[WHUQHQ$QUXIHUYHUEXQGHQ

5XIDQDOOH 6DPPHOUXI
$OOH0RELOWHLOHZHUGHQDQJHUXIHQXQGNOLQJHOQ'HU$QUXINDQQDQMH
GHP0RELOWHLOPLWGHU$EKHEHQ7DVWHDDQJHQRPPHQZHUGHQ
{~

,VWQLHPDQGHUUHLFKEDUHUWÐQWGDV%HVHW]W]HLFKHQ

0RELOWHLO1XPPHUDQ]HLJHQ
{

€

,QWHUQ7DVWHGUÖFNHQrGLHLQWHUQH5XIQXPPHUGHV0RELOWHLOVZLUG
UHFKWVDQJH]HLJW
$Q]HLJHEHHQGHQ
$XIOHJHQ7DVWHGUÖFNHQ



*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

$P0RELOWHLOPLWKÐUHQ
9RUDXVVHW]XQJ0LQGHVWHQV0RELOWHLOHVLQGDQJHPHOGHW
0LWGLHVHU)XQNWLRQNDQQHLQH[WHUQHV*HVSU¾FKDQHLQHPDQGHUHQ
0RELOWHLOPLWJHKÐUWZHUGHQ
6LHWHOHIRQLHUHQPLWHLQHPH[WHUQHQ7HLOQHKPHU

{

'DV*HVSU¾FKZLUGJHKDOWHQ

] %s

5XIQXPPHUGHVDQGHUHQ0RELOWHLOVHLQJHEHQrGDVDQGHUH0RELOWHLO
NOLQJHOWGHUDQGHUH7HLOQHKPHUGUÖFNWGLH$EKHEHQ7DVWHD

z4

6LHVLQGZLHGHUPLWGHPH[WHUQHQ7HLOQHKPHUYHUEXQGHQ'HUDQGHUH
7HLOQHKPHUKÐUWPLW
0LWKÐUHQDXVVFKDOWHQ

z4

'LHH[WHUQH9HUELQGXQJEOHLEWEHVWHKHQGHULQWHUQH7HLOQHKPHUKÐUW
GDV%HVHW]W]HLFKHQ

®

/HJWGHULQWHUQH7HLOQHKPHUDXIEHHQGHWHUGDV0LWKÐUHQ

0RELOWHLOHDEPHOGHQ
0LWGHPDEJHPHOGHWHQ0RELOWHLONDQQDQGLHVHU%DVLVVWDWLRQQLFKW
PHKUWHOHIRQLHUWZHUGHQ] %]XP6FKXW]YRU0L¹EUDXFK
z·¨b
6\VWHP3,1b

6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLH1XP
PHUQDOOHUDQJHPHOGHWHQ0RELOWHLOHZHUGHQDQJH]HLJW

] %s

,QWHUQH5XIQXPPHUGHVDE]XPHOGHQGHQ0RELOWHLOVHLQJHEHQrGLH
VH1XPPHUZLUGQLFKWPHKUDQJH]HLJW

b€



$EPHOGHQHLQOHLWHQ

$EPHOGHQEHVW¾WLJHQ

*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

([WHUQH:DKOLQGLYLGXHOOVSHUUHQ
,P/LHIHU]XVWDQGNÐQQHQ6LHYRQMHGHPDQJHPHOGHWHQ0RELOWHLOQDFK
d([WHUQoWHOHIRQLHUHQ0LWGLHVHU)XQNWLRQNÐQQHQ6LHGDV:¾KOHQ
YRQH[WHUQHQ1XPPHUQDQHLQ]HOQHQ0RELOWHLOHQVSHUUHQ
$QGHQdJHVSHUUWHQo0RELOWHLOHQNÐQQHQ6LH
r ,QWHUQWHOHIRQLHUHQ
r ([WHUQH$QUXIHDQQHKPHQ
r 'LHLQGHU%DVLVVWDWLRQJHVSHLFKHUWHQ1RWUXIQXPPHUQZ¾KOHQVLH
KH6HLWH

z·¨b
6\VWHP3,1b

(LQVWHOOXQJHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLH1XP
PHUQDOOHUDQJHPHOGHWHQ0RELOWHLOHZHUGHQDQJH]HLJW

] %s

,QWHUQH5XIQXPPHUGHV]XVSHUUHQGHQ0RELOWHLOVHLQJHEHQ

] %¨

]%([WHUQH:DKODXVVFKDOWHQ VSHUUHQ 
$XVVFKDOWHQ (LQVFKDOWHQ 

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

)D[0RGHPDQVFKOLH¹HQ
6LHNÐQQHQ)D[*HU¾WH0RGHPVXQGdIHVWHo7HOHIRQHÖEHUHLQHQ
VFKQXUORVHQ$QVFKOX¹*LJDVHW7$( 7$( 7HLOQHKPHU$QVFKOX¹
(LQKHLW ¾KQOLFKZLHHLQ0RELOWHLODQGHU%DVLVVWDWLRQDQPHOGHQ,QGLH
VHP)DOOPÖVVHQ6LHGHQ*HU¾WHW\SIÖUGLH7$(¾QGHUQZLHQDFKIRO
JHQGEHVFKULHEHQ
z·b
6\VWHP3,1b

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rDOOHDQ
JHPHOGHWHQ0RELOWHLOHZHUGHQDQJH]HLJW

] %u

,QWHUQH5XIQXPPHUGHU7$(HLQJHEHQ

] %¸

*HU¾WHW\SHLQVWHOOHQ
dIHVWHVo7HOHIRQ0RELOWHLO  /LHIHU]XVWDQG )D[ 0RGHP 

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

5XIWRQHLQDXVVFKDOWHQ
%HLDQNRPPHQGHQH[WHUQHQ$QUXIHQdNOLQJHOQoDOOH0RELOWHLOHVR
IRUWr6DPPHOUXI /LHIHU]XVWDQG 'LH$QUXIHNÐQQHQDQDOOHQ0RELOWHL
OHQPLWGHU$EKHEHQ7DVWHDDQJHQRPPHQZHUGHQ
6LHNÐQQHQGHQ5XIWRQMHGRFKDXFKDQHLQ]HOQHQ0RELOWHLOHQDXV
VFKDOWHQrGLHVH0RELOWHLOHNOLQJHOQGDQQEHLH[WHUQHQ$QUXIHQQLFKW
PHKU

z·¸b
6\VWHP3,1b
] %·

(LQVWHOOXQJHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rDOOH0R
ELOWHLOHdPLWo5XIWRQZHUGHQDQJH]HLJW
,QWHUQH5XIQXPPHUQGHV0RELOWHLOVHLQJHEHQ
r 5XIQXPPHUZLUGDQJH]HLJW 5XIWRQHLQ
r 5XIQXPPHUZLUGQLFKWDQJH]HLJW 5XIWRQDXV

b€

(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

5XIYHU]ÐJHUXQJ6DPPHOUXI'XUFKZDKO
HLQVWHOOHQ
0LWGLHVHU)XQNWLRQNÐQQHQ6LHYRQ6DPPHOUXI /LHIHU]XVWDQG DXI
5XIYHU]ÐJHUXQJRGHU'XUFKZDKOXPVFKDOWHQ
r %HL6DPPHOUXINOLQJHOQEHLH[WHUQHQ$QUXIHQDOOH0RELOWHLOHVR
IRUW
r %HL5XIYHU]ÐJHUXQJNOLQJHOW]XHUVWGDVdEHYRU]XJWHo0RELOWHLO
XQG] %QDFK.OLQJHOVLJQDOHQGLHÖEULJHQ0RELOWHLOH'DEHLNÐQ
QHQ6LH]XV¾W]OLFKGDVEHYRU]XJWH0RELOWHLOXQGGLH5XIYHU]ÐJHUXQJ
$Q]DKOGHU.OLQJHOVLJQDOH IHVWOHJHQ
r EHL'XUFKZDKONDQQHLQH[WHUQHU$QUXIHUGLUHNWHLQEHVWLPPWHV
0RELOWHLODQUXIHQ VLHKH6 
z·sb
6\VWHP3,1b
¸

(LQVWHOOXQJHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ
/LHIHU]XVWDQG 
6DPPHOUXIHLQVWHOOHQ

RGHU
s

5XIYHU]ÐJHUXQJHLQVWHOOHQ

RGHU
·
b€



'XUFKZDKOHLQVWHOOHQ
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

*LJDVHW&ODVVLF,QODQG$*%

PHKUH07VIP



0HKUHUH0RELOWHLOHQXW]HQ
7DVWHQGUÖFNHQ

%HYRU]XJWHV0RELOWHLOHLQVWHOOHQ
,P/LHIHU]XVWDQGZLUGDXWRPDWLVFKGDV0RELOWHLOPLWGHU5XIQXPPHU
EHYRU]XJWrNOLQJHOW]XHUVW
6LHNÐQQHQMHGRFKDXFKHLQDQGHUHV0RELOWHLOEHYRU]XJHQZLHKLHU
EHVFKULHEHQ

z··b
6\VWHP3,1b
] %s
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLHEH
YRU]XJWH1XPPHUZLUGDQJH]HLJW
5XIQXPPHUGHVEHYRU]XJWHQ0RELOWHLOVHLQJHEHQ
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

$Q]DKOGHU5XIWÐQHEHL5XIYHU]ÐJHUXQJHLQVWHOOHQ
6LHNÐQQHQHLQVWHOOHQQDFKZLHYLHOHQ5XIWÐQHQ .OLQJHOVLJQDOHQ HV
DXFKDQGHQÖEULJHQ0RELOWHLOHQNOLQJHOW
z·ub
6\VWHP3,1b
] %v
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG rGLHDNWX
HOOH(LQVWHOOXQJZLUGDQJH]HLJW] %
$Q]DKOGHU5XIWÐQHHLQJHEHQ
(VNOLQJHOWQDFK5XIWÐQHQ ELV5XIWÐQHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

1XULQ°VWHUUHLFK
%HWULHEGHV*LJDVHW]XV¾W]OLFK]XHLQHP]ZHLWHQ7HOHIRQ
*HVSU¾FKVÖEHUJDEH
● 9RP*LJDVHW ]XPDQGHUHQ7HOHIRQGXUFK$XIOHJHQ€DP

*LJDVHWEHLDEJHKREHQHP+ÐUHUDP)HVWWHOHIRQ

● 9RPDQGHUHQ7HOHIRQ]XP*LJDVHW¶EHUQDKPHGHV*HVSU¾FKV

GXUFK$EKHEHQDP*LJDVHW



*LJDVHW&ODVVLF,QODQG$*%

DQODJHQIP



$Q7HOHIRQDQODJHDQVFKOLH¹HQ
7DVWHQGUÖFNHQ

$Q7HOHIRQDQODJHDQVFKOLH¹HQ
:DKOYHUIDKUHQHLQVWHOOHQ
1XUQRWZHQGLJZHQQ,KUH7HOHIRQDQODJHQLFKWPLWGHPYRUHLQJH
VWHOOWHQ0)9 0HKUIUHTXHQ]9HUIDKUHQ XQG)ODVKDUEHLWHWrVLHKH$Q
OHLWXQJGHU7HOHIRQDQODJH
(LQVWHOOPÐJOLFKNHLW
r 0)9)ODVKPV
r 0)9)ODVK]HLWHLQVWHOOEDU
r ,:9 ,PSXOVZDKO9HUIDKUHQ
:DKOYHUIDKUHQHLQVWHOOHQ

z·vb
6\VWHP3,1b
] %s
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
:DKOYHUIDKUHQHLQVWHOOHQ
0)9)ODVKPV 0)9)ODVK]HLWHLQVWHOOEDU ,:9 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

)ODVK]HLWHLQVWHOOHQ
9RUDXVVHW]XQJ6LHKDEHQZLHYRUKHUEHVFKULHEHQGDV:DKOYHUIDK
UHQDXId0)9)ODVK]HLWHLQVWHOOEDUoXPJHVWHOOWXQG,KUH7HOHIRQDQODJH
EHQÐWLJWHLQHDQGHUH)ODVK]HLW
zusb
6\VWHP3,1b
] %¸

b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
)ODVK]HLWHLQVWHOOHQ
PV PV PV PV 
PV PV PV 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

$XI7RQZDKOXPVFKDOWHQ
:HQQ6LHGLH%DVLVVWDWLRQDQHLQHU7HOHIRQDQODJHPLW,PSXOVZDKO
,:9 EHWUHLEHQVRNÐQQHQ6LHDXI7RQZDKO 0)9 XPVWHOOHQ]%
]XP$EKÐUHQHLQHV$QUXIEHDQWZRUWHUV
9RUDXVVHW]XQJ9HUELQGXQJEHVWHKW



z

6SHLFKHU7DVWHGUÖFNHQ

}

7RQZDKOHLQVFKDOWHQrGLH7RQZDKOLVWELV*HVSU¾FKVHQGHHLQJHVFKDO
WHW

*LJDVHW&ODVVLF,QODQG$*%

DQODJHQIP



$Q7HOHIRQDQODJHDQVFKOLH¹HQ
7DVWHQGUÖFNHQ

([WHUQ.HQQ]DKOVSHLFKHUQ
9RUDXVVHW]XQJ%HL,KUHU7HOHIRQDQODJHPX¹IÖUH[WHUQH*HVSU¾FKH
YRUGHU5XIQXPPHUHLQH([WHUQ.HQQ]DKO] %doHLQJHJHEHQZHUGHQ
'LH([WHUQ.HQQ]DKONDQQDXFKDOV9RUZDKONHQQ]LIIHURGHU$PWV
NHQQ]LIIHU $.= EH]HLFKQHWZHUGHQ

®

● %HDFKWHQ6LHGD¹6LHEHLP6SHLFKHUQYRQ1RWUXIQXP

PHUQ'LUHNWUXIQXPPHUQ5XIQXPPHUQIÖUGLH.XU]
ZDKOOLVWHXQG9RUZDKOQXPPHUQYRQ1HW]DQELHWHUQGLH
([WHUQ.HQQ]DKOPLWHLQJHEHQPÖVVHQ

● 'DHLQ1RWUXIEHLJHVSHUUWHP0RELOWHLOPLWGHQIHVWJH

VSHLFKHUWHQ1RWUXIQXPPHUQ] %QLFKWPÐJOLFKLVW
VROOWHQ6LHDXV6LFKHUKHLWVJUÖQGHQGLH1RWUXIQXPPHUQPLW
([WHUQ.HQQ]DKOQHXVSHLFKHUQ] %

● 'LH([WHUQ.HQQ]DKOGLH6LHdKLHUoVSHLFKHUQZLUGLP

PHUDXWRPDWLVFKYRUGHQ5XIQXPPHUQLQGHU$QUXIHUOLVWH
HLQJHIÖJWXQGJHZ¾KOW

zu¨b
6\VWHP3,1b
] %¨
b€

)XQNWLRQHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
([WHUQ.HQQ]DKOHLQJHEHQ ELV]X6WHOOHQ RGHU¾QGHUQ
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ

3DXVHQDFK([WHUQ.HQQ]DKO
9RUDXVVHW]XQJ6LHKDEHQHLQH([WHUQ.HQQ]DKOJHVSHLFKHUWXQG
PÐFKWHQGLHHLQJHVWHOOWH3DXVH¾QGHUQ
'LHKLHUHLQJHVWHOOWH3DXVHZLUGYRQGHU%DVLVVWDWLRQDXWRPDWLVFKLP
PHUQDFKGHU([WHUQ.HQQ]DKOHLQJHIÖJW2EXQGZLHODQJHGLHVH3DX
VHVHLQPX¹HQWQHKPHQ6LHELWWHGHU$QOHLWXQJ,KUHU7HOHIRQDQODJH
zu¸b
6\VWHP3,1b
] %¸
b€

(LQVWHOOXQJHLQOHLWHQ
6\VWHP3,1HLQJHEHQXQGEHVW¾WLJHQ /LHIHU]XVWDQG 
3DXVHQO¾QJHHLQJHEHQ
6HNXQGH 6HNXQGHQ 6HNXQGHQ 6HNXQGHQ 
(LQVWHOOXQJVSHLFKHUQXQG)XQNWLRQEHHQGHQ



*LJDVHW&ODVVLF,QODQG$*%

DQKDIP



$QKDQJ

$QKDQJ
3IOHJH
● :LVFKHQ6LH%DVLVVWDWLRQXQG0RELOWHLOPLWHLQHPIHXFKWHP7XFKRGHUHL

QHP$QWLVWDWLNWXFKDE%HQXW]HQ6LHQLHHLQWURFNHQHV7XFK(VEHVWHKW
GLH*HIDKUGHUVWDWLVFKHQ$XIODGXQJ

6HOEVWKLOIHEHL6WÐUXQJHQ
0RELOWHLOLQGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQVLHKH6HLWH

® %DVLVVWDWLRQLQGHQ/LHIHU]XVWDQG]XUÖFNVHW]HQVLHKH6HLWH
)HKOHU

0ÐJOLFKH8UVDFKH

$EKLOIH

.HLQH'LVSOD\DQ]HLJH

0RELOWHLOQLFKWHLQJH
VFKDOWHW

$XIOHJHQ7DVWH€
 6HNXQGHODQJ
GUÖFNHQ

$NNXVOHHU

$NNXVODGHQ

.HLQH5HDNWLRQDXI7D
VWHQGUXFN

7DVWHQVFKXW]HLQJH
VFKDOWHW

}6HNXQGHODQJ
GUÖFNHQ

.HLQH)XQNYHUELQGXQJ
]XU%DVLVVWDWLRQ
6WDWLRQVV\PERO 
EOLQNW

0RELOWHLODX¹HUKDOEGHU
5HLFKZHLWHGHU%DVLV
VWDWLRQ

'HU%DVLVVWDWLRQQ¾KHUQ

0RELOWHLOQLFKWDQJHPHO
GHW

0RELOWHLODQPHOGHQ
6HLWH

%DVLVVWDWLRQQLFKWHLQ
JHVFKDOWHW

6WHFNHUDQ%DVLVVWDWLRQ
NRQWUROOLHUHQ 6HLWH

0RELOWHLONOLQJHOWQLFKW

5XIWRQDXVJHVFKDOWHW

5XIWRQHLQVFKDOWHQ
6HLWH

%DVLVNOLQJHOWQLFKW

5XIWRQDXVJHVFKDOWHW

5XIWRQHLQVFKDOWHQ
6HLWH

:DKOH[WHUQHU5XIQXP
PHUQQLFKWPÐJOLFK

6\VWHPVSHUUHLVWHLQJH
VFKDOWHW

6SHUUHDXVVFKDOWHQ
6HLWH

0RELOWHLOVSHUUHLVWHLQ
JHVFKDOWHW

6SHUUHDXVVFKDOWHQ
6HLWH

5XIQXPPHUHQWVSULFKW
HLQHU6SHUUXIQXPPHU

6SHUUXIQXPPHUQ
6HLWH

*XWKDEHQGHV7DVFKHQ
JHOGNRQWRVYHUEUDXFKW

7DVFKHQJHOGNRQWR
6HLWH

([WHUQH:DKOJHVSHUUW

([WHUQH:DKOVSHUUHQ
6HLWH





*LJDVHW&ODVVLF,QODQG$*%

DQKDIP



$QKDQJ
)HKOHU

0ÐJOLFKH8UVDFKH

$EKLOIH

(LQKHLWHQ.RVWHQZHU
GHQQLFKWDQJH]HLJW

=¾KOLPSXOVIHKOW

¶EHUWUDJXQJGHV=¾KO
LPSXOVHVEHL7HOHIRQJH
VHOOVFKDIWEHDQWUDJHQ

*HVSU¾FKVNRVWHQZHU
GHQQLFKWDQJH]HLJW

3UHLVMH(LQKHLW 

3UHLVMH(LQKHLWHLQVWHO
OHQ 6HLWH

'HU*HVSU¾FKVSDUWQHU
KÐUWQLFKWV

0LNURIRQPLW7DVWH4
'LH7DVWH{ZXUGH
JHGUÖFNWrGDV0LNURIRQ HLQVFKDOWHQ
LVWdVWXPPJHVFKDOWHWo

5XIQXPPHUGHV$QUX
IHUVZLUGQLFKWDQJH
]HLJW

5XIQXPPHUZXUGH
QLFKWÖEHUWUDJHQ

5XIQXPPHUÖEHUWUD
JHQEHL7HOHIRQJHVHOO
VFKDIWEHDQWUDJHQ

'HU$QUXIEHDQWZRUWHU
PHOGHWEHLGHU)HUQEH
GLHQXQJ3,1LVWXQJÖO
WLJo

'LHHLQJHJHEHQH6\
VWHP3,1LVWXQJÖOWLJ
RGHUDXI

(LQJDEHGHU3,1ZLH
GHUKROHQRGHUHLQH6\
VWHP3,1XQJOHLFK
HLQVWHOOHQ

'HU$QUXIEHDQWZRUWHU
]HLFKQHWNHLQH1DFK
ULFKWHQ$QVDJHQ,QIRU
PDWLRQHQDXI

6SHLFKHULVWYROO

$OWH1DFKULFKWHQOÐ
VFKHQ

'HU$QUXIEHDQWZRUWHU
LVWHLQJHVFKDOWHW]HLFK
QHWDEHUNHLQH1DFKULFK
WHQDXIXQGO¾¹WVLFK
QLFKWDEKÐUHQ

'HU$QUXIEHDQWZRUWHU
NRPSULPLHUWJHUDGH

$Q7HOHIRQDQODJHQ
.HLQHRGHUIDOVFKH
9HUELQGXQJ

'LH([WHUQ.HQQ]DKO
([WHUQ.HQQ]DKOULFKWLJ
ZXUGHQLFKWRGHUIDOVFK HLQJHEHQE]ZÖEHUSUÖ
HLQJHJHEHQ
IHQ 6HLWH

1HXH1DFKULFKWHQDQ
KÐUHQXQGOÐVFKHQ
ELV0LQXWHQZDUWHQ
'HU$QUXIEHDQWZRUWHU
LVWGDQDFKZLHGHUYROO
IXQNWLRQVI¾KLJ

*DUDQWLH6HUYLFH=XODVVXQJ
*DUDQWLH
,QQHUKDOEGHU*DUDQWLH]HLWYRQ0RQDWHQDE.DXIGDWXPEHLP+¾QGOHUEHVHLWLJW
GLH6LHPHQV$*DOOHPDWHULDORGHUKHUVWHOOXQJVEHGLQJWHQ0¾QJHOGXUFK5HSD
UDWXU$XVWDXVFK
9RQGHU*DUDQWLHDXVJHQRPPHQVLQG6FK¾GHQDXIJUXQGYRQXQVDFKJHP¾¹HP
*HEUDXFK9HUVFKOHL¹RGHU(LQJULIIHQ'ULWWHU'LH*DUDQWLHXPID¹WNHLQH9HU
EUDXFKVPDWHULDOLHQXQG0¾QJHOGLHGHQ:HUWRGHUGLH*HEUDXFKVWDXJOLFKNHLW
QXUXQHUKHEOLFKEHHLQWU¾FKWLJHQ



*LJDVHW&ODVVLF,QODQG$*%

DQKDIP



$QKDQJ

6HUYLFH
6HUYLFH$QVSUHFKSDUWQHU
● 'HXWVFKODQG6LHPHQV+RWOLQH
● °VWHUUHLFK6LHPHQV+RWOLQH

'HU6LHPHQV6HUYLFHVWHKW,KQHQQXUEHL6WÐUXQJHQDP*HU¾W]XU9HUIÖ

® JXQJ%HL)UDJHQ]XU%HGLHQXQJKLOIW,KQHQ,KU)DFKK¾QGOHUZHLWHU)UD
JHQ]XP7HOHIRQDQVFKOX¹ULFKWHQ6LHELWWHDQ,KUHQ1HW]EHWUHLEHU

=XODVVXQJ
'DV*LJDVHW LVW]XP%HWULHELQ,KUHP/DQG]XJHODVVHQZLHDXIGHU8QWHU
VHLWHGHU%DVLVVWDWLRQJHNHQQ]HLFKQHW
%HLHLQHU=XODVVXQJQDFK,&75  DXV$PWVEODWW 
d'LHVHV*HU¾WZXUGHJHP¾¹GHU(QWVFKHLGXQJ(*GHV5DWHVHXURSDZHLW]XU
$QVFKDOWXQJDOVHLQ]HOQH(QGHLQULFKWXQJDQGDVÐIIHQWOLFKH)HUQVSUHFKQHW]]XJHODVVHQ
$XIJUXQGGHU]ZLVFKHQGHQÐIIHQWOLFKHQ)HUQVSUHFKQHW]HQYHUVFKLHGHQHU6WDDWHQEHVWH
KHQGHQ8QWHUVFKLHGHVWHOOWGLHVH=XODVVXQJDQVLFKMHGRFKNHLQHXQEHGLQJWH*HZ¾KUIÖU
HLQHQHUIROJUHLFKHQ%HWULHEGHV*HU¾WVDQMHGHP1HW]VFKOX¹SXQNWGDU
)DOOVEHLP%HWULHE3UREOHPHDXIWUHWHQVROOWHQ6LHVLFK]XQ¾FKVWDQ,KUHQ)DFKK¾QGOHU
ZHQGHQo



*LJDVHW&ODVVLF,QODQG$*%

V6,;IP



6WLFKZRUWYHU]HLFKQLV
$

$NNXVHLQOHJHQXQGODGHQ
$NNXZDUQWRQ
$QNORSIHQ
$QUXIEHDQWZRUWHU
HLQDXVVFKDOWHQ
LQGLYLGXHOOHLQVWHOOHQ
$QUXIEHDQWZRUWHUJHVSU¾FKÖEHUQHKPHQ
$QUXIHQ
([WHUQ
,QWHUQ
$QVDJH $%
DXVZ¾KOHQ
OÐVFKHQ
$XIQHKPHQYRQ*HVSU¾FKHQ
$XVVFKDOWHQ
$NNXZDUQWRQ
0RELOWHLO
4XLWWXQJVWRQ
7DVWHQNOLFN
7DVWHQVFKXW]
7HOHIRQVSHUUH'LUHNWUXI
7ÐQH
:DUWHPHORGLH
$XWRPDWLVFKH5XIDQQDKPH

%

%DVLVVWDWLRQ
$QVFKOLH¹HQ
$XIVWHOORUW
'DWXPHLQVWHOOHQ
(LQVWHOOHQYRQ3DXVHQ]HLWHQ
,Q/LHIHU]XVWDQG]XUÖFNVHW]HQ
5XIWRQPHORGLHHLQVWHOOHQ
8KU]HLWHLQVWHOOHQ
:DUWHPHORGLHHLQDXVVFKDOWHQ
:HFKVHOQ
%HVW¾WLJXQJVWRQ
%ULHINDVWHQIXQNWLRQ

&

&DOO3LFNXS
&DOOE\&DOO
&/,3 5XIQXPPHUQDQ]HLJH 

'

'LUHNWDQVSUHFKHQ
'LUHNWUXI
'LVSOD\6\PEROH8PVFKODJVHLWH
'LVSOD\7DVWHQ8PVFKODJVHLWH
'XUFKVDJH
$XVIÖKUHQ
(LQVWHOOXQJ
'XUFKZDKO

(

(LQVFKDOWHQ
$NNXZDUQWRQ
0RELOWHLO
4XLWWXQJVWRQ
7DVWHQNOLFN
7DVWHQVFKXW]
7HOHIRQVSHUUH'LUHNWUXI
7ÐQH
:DUWHPHORGLH
(LQVWHOOXQJHQ
$QUXIEHDQWZRUWHU
'DWXP
+ÐUHUODXWVW¾UNH
3DXVHQ]HLWHQ
3UHLVMH(LQKHLW
5XIWRQODXWVW¾UNH%DVLVVWDWLRQ
5XIWRQODXWVW¾UNH0RELOWHLO
5XIWRQPHORGLH%DVLVVWDWLRQ
5XIWRQPHORGLH0RELOWHLO
(LQVWHOOXQJHQr¶EHUVLFKW
(LQVWHOOXQJHQYHU¾QGHUQ $% 
([WHUQDQUXIHQ

)

)D[0RGHPDQVFKOLH¹HQ
)D[DQUXIH
)HKOHUVXFKH
)HKOHUWRQ
)HUQDEIUDJH $%
$QUXIEHDQWZRUWHUHLQVFKDOWHQ
$QVDJHQDXIQHKPHQ
$QVDJHQZLHGHUJHEHQDXVZ¾KOHQ
+LOIHQXW]HQ
1DFKULFKWHQDQKÐUHQ
)HUQEHGLHQXQJ $% 
)ODVK]HLW

'DWXPHLQVWHOOHQ



*LJDVHW&ODVVLF,QODQG$*%

*

*$36WDQGDUG
*DUDQWLH
*HEÖKUHQDQ]HLJHQOÐVFKHQ
*HEÖKUHQVSDUIXQNWLRQ
*HVDPWNRVWHQDQ]HLJHQOÐVFKHQ
*HVSU¾FK
DXIQHKPHQPLWVFKQHLGHQ
YHUELQGHQ
*HVSU¾FKVGDXHUDQ]HLJHQ
*HVSU¾FKVNRVWHQDQ]HLJHQ
*ÖUWHOFOLS

+

+LOIHEHL6WÐUXQJHQ
+LQZHLVDQVDJH
+ÐUHUODXWVW¾UNHHLQVWHOOHQ
+RWOLQH

,

,QIR $% DXIQHKPHQ
,:9 ,PSXOVZDKO9HUIDKUHQ 

.

.OLQJHOVLJQDO
.RVWHQDQ]HLJHQ
.XU]DQOHLWXQJ
.XU]ÖEHUVLFKW0RELOWHLO
.XU]ZDKO

0

0)9 0HKUIUHTXHQ]9HUIDKUHQ 
0LNURIRQVWXPPVFKDOWHQ
0LWKÐUHQ
DP0RELOWHLO
DQGHU%DVLV
0LWVFKQHLGHQ
0RELOWHLO
$EPHOGHQ
$QPHOGHQDQZHLWHUHQ%DVLVVWDWLRQHQ
$QPHOGHQYRQZHLWHUHQ0RELOWHLOHQ
$Q]HLJHGHU%DVLVVWDWLRQHLQDXVVFKDOWHQ
(LQDXVVFKDOWHQ
([WHUQH:DKOVSHUUHQ
,Q/LHIHU]XVWDQG]XUÖFNVHW]HQ
,QWHUQ1XPPHUDQ]HLJHQ
9RUEHUHLWHQ
:HFKVHO]XHLQHUDQGHUHQ%DVLVVWDWLRQ
0RELOWHLO(LQVWHOOXQJHQ ¶EHUVLFKW 



V6,;IP



0RELOWHLOVSHUUH
$XVVFKDOWHQ
(LQVFKDOWHQ
0RGHP)D[DQVFKOLH¹HQ

1

1DFKULFKW $%
DQKÐUHQ
OÐVFKHQ
:LHGHUJDEHEHHQGHQ
1RWUXIQXPPHU
6SHLFKHUQ
:¾KOHQ

3

3DJLQJ 0RELOWHLOHVXFKHQ 
3,1¾QGHUQ
3,1GHU%DVLVVWDWLRQ
3,1GHV0RELOWHLOV

4

4XLWWXQJVWÐQH

5

5HLFKZHLWH
5ÖFNIUDJH LQWHUQ 
5XIDQDOOH 6DPPHOUXI 
5XIDQQDKPH DXWRPDWLVFK 
5XIQXPPHUQVSHUUHQ]XODVVHQ
5XIWRQHLQDXVVFKDOWHQ
5XIWRQODXWVW¾UNHHLQVWHOOHQ
5XIWRQPHORGLHHLQVWHOOHQ

6

6DPPHOUXI 5XIDQDOOH 
6DPPHOUXI5XIYHU]ÐJHUXQJHLQVWHOOHQ
6HUYLFH
6LFKHUKHLWVKLQZHLVH
6SHLFKHUQ
*XWKDEHQ
.XU]ZDKOQXPPHU
1RWUXIQXPPHU
6\VWHP3,1
7DVFKHQJHOG
7HOHIRQ3,1
6WDQGDUGDQVDJH
6WÐUXQJHQ +LOIH 
6\VWHPVSHUUHHLQDXVVFKDOWHQ

*LJDVHW&ODVVLF,QODQG$*%

7

7DVFKHQJHOGNRQWR
7DVWHQNOLFNDXVHLQVFKDOWHQ
7DVWHQVFKXW]
7HOHIRQDQODJHQ
$XI7RQZDKOXPVFKDOWHQ
([WHUQ.HQQ]DKOVSHLFKHUQ
)ODVK]HLW
3DXVHQDFK([WHUQ.HQQ]DKOVSHLFKHUQ
:DKOYHUIDKUHQHLQVWHOOHQ
7HOHIRQLHUHQ
$QUXIDQQHKPHQ
([WHUQ
,QWHUQ
7HOHIRQVSHUUH
7ÐQHDP0RELOWHLO
$NNXZDUQWRQ
4XLWWXQJVWÐQH
7DVWHQNOLFN
7RQUXI

V6,;IP



8

8KU]HLWHLQVWHOOHQ

9

9HUELQGHQ
9HUSDFNXQJVLQKDOW

:

:DKOZLHGHUKROXQJ
:HLWHUYHUELQGHQ
:LHGHUJDEHHLQHU1DFKULFKW $% EHHQGHQ

=

=XODVVXQJ



*LJDVHW&ODVVLF,QODQG$*%

V6,;IP


leere linke Seite muß bleiben, da Fernbedienung zum Ausschneiden=rechte Seite!!



IHUQEHGLHQIP

*LJDVHW&ODVVLF,QODQG$*%



$QUXIEHDQWZRUWHU)HUQEHGLHQXQJ

9

6WDWXV+LOIH

#

8

–

0

1HX

✱

7

I
f

6
5

'LUHNW
DQVSUHFKHQ

d
c

4

3
2
1

•
“

”

'LH)XQNWLRQGHU7DVWHQ]XP)HUQEHGLHQHQGHV$QUXIEHDQWZRUWHUVLVWEHLDOOHQ
7HOHIRQHQ0RELOWHLOHQ7RQVHQGHUQJOHLFK'LHd6FKHFNNDUWHoYHUGHXWOLFKW,K
QHQGHQ=XVDPPHQKDQJ]ZLVFKHQGHQ6WHXHUEHIHKOHQXQGGHQ7DVWHQVRZLH
GHQ(LQVWLHJIÖUGLH)HUQDEIUDJHPLWHLQHPH[WHUQHQ7HOHIRQ

(LQVWLHJ
P(LJHQH5XIQXPPHUZ¾KOHQ6LHKÐUHQ,KUHQ$QVDJHWH[W
}P 5DXWH7DVWHGUÖFNHQXQG6\VWHP3,1
HLQJHEHQ
¶EHU=LIIHUQWDVWHQ$QUXIEHDQWZRUWHUVWHXHUQ
$QUXIEHDQWZRUWHUHLQVFKDOWHQ
7HOHIRQFD0LQXWHNOLQJHOQODVVHQ

✂

}P 5DXWH7DVWHGUÖFNHQXQG6\VWHP3,1
HLQJHEHQ
'HU$QUXIEHDQWZRUWHUVFKDOWHWVLFKHLQ

(LQVWHOOXQJHQr¶EHUVLFKW
0RELOWHLO
z
¸

¨

+ÐUHUODXWVW¾UNHHLQVWHOOHQ

¸

6SHUUHQ(QWVSHUUHQ
'LUHNWUXI

s

7HOHIRQ3,1¾QGHUQ

·

4XLWWXQJVWÐQH(LQ$XV

u

7DVWHQNOLFN(LQ$XV

v

$NNXZDUQWRQ(LQ$XV

†

$Q]HLJHGHU%DVLVVWDWLRQ
(LQ$XV
$XWRP5XIDQQDKPH(LQ
$XV
0RELOWHLOLQ/LHIHU]XVWDQG
]XUÖFNVHW]HQ

x
y

%DVLVVWDWLRQ
z
¨
¨

6\VWHPVSHUUH

¸

5XIQXPPHUQVSHUUHQ
]XODVVHQ

s

1RWUXIQXPPHUQ

·

.RVWHQDQ]HLJHQ

u

7DVFKHQJHOGNRQWR

v

5XIWRQODXWVW¾UNH
%DVLVVWDWLRQ

†

5XIWRQPHORGLH%DVLVVWDWLRQ

x

6\VWHP3,1%DVLVVWDWLRQ
¾QGHUQ

y

'DWXPHLQVWHOOHQ



8KU]HLWHLQVWHOOHQ

¨

([WHUQH:DKOLQGLYLGXHOO
VSHUUHQ

v

5XIWRQODXWVW¾UNHHLQVWHOOHQ

†

5XIWRQPHORGLHHLQVWHOOHQ

¸

5XIWRQHLQDXVVFKDOWHQ

~

$XI7RQZDKOXPVWHOOHQ

s

$XVZDKOGHU%DVLVVWDWLRQ

·

5XIYHU]ÐJHUXQJ6DPPHO
UXIHLQVWHOOHQ
%HYRU]XJWHV0RELOWHLO
HLQVWHOOHQ

u

5XIYHU]ÐJHUXQJHLQVWHOOHQ

v

:DKOYHUIDKUHQHLQVWHOOHQ

†

0RELOWHLOHDEPHOGHQ

x

3UHLVMH(LQKHLWHLQVWHOOHQ

y

/HW]WH*HVSU¾FKVNRVWHQ
DQ]HLJHQ



)D[0RGHPDQVFKOLH¹HQ

}

5ÖFNVHW]HQLQ/LHIHU]XVWDQG

~

7DVWHQNOLFN(LQ$XV

¨

([WHUQ.HQQ]DKOVSHLFKHUQ

¸

3DXVHQDFK([WHUQ.HQQ
]DKO

s

)ODVK]HLWHLQVWHOOHQ

·

:DUWHPHORGLH

v

3DXVHQDFK%HOHJHQGHU
/HLWXQJ

†

3DXVHQDFK57DVWH

{

¨


u
~

·

$QPHOGHQDQ%DVLVVWDWLRQ
.XU]ZDKOVSHLFKHUQ

-

$QUXIEHDQWZRUWHU
z


¨

$Q]DKOGHU5XIWÐQH

¸

1DFKULFKWHQO¾QJH

s
·

3DXVHQDFK:LHGHUJDEH
HLQHU1DFKULFKW
=HLWDQJDEHIÖUMHGH1DFK
ULFKW

u

0LWKÐUHQ

†

'LUHNWDQVSUHFKHQ
'XUFKVDJH

x

$XI]HLFKQXQJVTXDOLW¾W

+HUDXVJHJHEHQYRP%HUHLFK
,QIRUPDWLRQDQG&RPPXQLFDWLRQ3URGXFWV
+RIPDQQVWUD¹H'0ÖQFKHQ
6LHPHQV$NWLHQJHVHOOVFKDIW

u

ƒ6LHPHQV$*$OOULJKWVUHVHUYHG
/LHIHUPÐJOLFKNHLWHQXQG
WHFKQLVFKHžQGHUXQJHQYRUEHKDOWHQ
%HVWHOO1U$*%
3ULQWHGLQ*HUPDQ\


LP,QWHUQHW KWWSZZZVLHPHQVFRPJLJDVHW

8



---

Source Exif Data:

File Type                       : PDF
File Type Extension             : pdf
MIME Type                       : application/pdf
PDF Version                     : 1.2
Linearized                      : Yes
Create Date                     : 1999:09:09 09:28:36
Producer                        : Acrobat Distiller 3.01 for Windows
Creator                         : PSCRIPT.DRV Version 4.0
Title                           : 3015s.book
Modify Date                     : 1999:12:13 10:38:46
Page Count                      : 70

EXIF Metadata provided by EXIF.tools