OECN @HF COAXPS NDOB-VHPJ DXVIDJHY Ieo `h vchwhf do www.fcuimcrurbchjeco.drb
Imrcstceo Fujdotchr, JF, [mF wctm tmh Mhnp dl Fr Yynvch Ierjís, JF
@YYM Costruitcdoen idurshs - shrchs 2
JS VENGY •
Oecn @hf coaury
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Mddg Oecn
•
[coihr oecn
•
Ypnct oecn
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Vreuje
Yhquhneh
Dtmhr pdst-treujetci shquhneh
(Eiqucrhf) fystrdpmy
Yhquhneh
JS VENGY
•
Oecn uoct eoetdjy
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Oecn @hf coaury
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Mddg Oecn
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[coihr oecn
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Ypnct oecn eof dtmhr pdst-treujetci fystrdpmchs
@EYC I OECN EOE [MSYCDNDBS
VDJS EO F
VMH OECN XOCV Cs e fcstcoit drbeo wmdsh eoetdjy eof pmyscdndby erh fcllhrhot lrdj tmh ſtobhr sgco [myndbhohtcienny tmh jdst prcjctcvh epphofebh cs tmh inew, lduof co enn thrrhstrcen thtrepdfs Oecns erh imereithrcstci prcjeth epphofebhs lduof do et nhest sdjh fcbcts dl enn sphichs Hvdnutcdo dl oecns wes indshny essdicethf wctm tmh ush dl meofs (eof lhht) es jeocpunetdry drbeos.
E[[EPCVCDO DL OECNY CY EYYDI CEVHF RCVM Nhobtmhocob dl tmh pmeneobhs (sd tmh fcbcts idunf `h ffhxhf ebecost tmh penj) Ypneycob dut dl tcnh thrjcoen pmeneobhs td eiidjjdfeth tmh teitcnh shosdry pefs
Ypherjeo PCI . [myndbhoy dl tmh oecn. Aduroen dl Mujeo Hvdnutcdo(53=8) 56, 82-<5
RMEV C Y V MH EOEVDJ S DL VMH OECN XOCV 4
E @DOS YX[[ DPV
EOF CVY EFAEIHOV NCBEJHOVDXY YVPXIVXPHY
E prdxcjen ſt`rdus ouinhus wctm tmh jcxcob dl ſt`hrs lrdj tmh hxthosdr, tmh ffhxdr, tmh idnnethren ncbejhot Dl wmcim erdsh tmh oecn Lncot–s ncbejhot (nethren etteimhjhot dl tmh epperetus) Epperhcn hxthoshur Ncbejhot cothr-dsshux netãren fh Lncot
Ncbejhot mypdocimcen
VMH OEC N [NE VH
Vmh phrydoyimcuj1
Enn tmh tcssuhs ndiethf uofhr tmh oecn pneih Vmh perdoyimcuj1
Enn tmh tcssuhs ndiethf dvhr tmh oecn pneth
VMH [HPSDOSIMCXJ
Oecn jetrcx (bhrjcoen) Oecn `hf (sthrcnh) Mypdoyimcuj
VMH OECN JEVPC] Yterts prdxcjen, 5,6 jj +/- ;,< jj lrdj tmh coshrtcdo dl tmh hxthosdr thofdo Hxthofs up td tmh nuoune (odt enweys vcsc`nh) Ensd idvhr tmh prdxcjen pert dl tmh oecn pneth
VMH OECN JEVPC]
Dony struiturh e`nh td prdfuih tmh oecn pneth +++ Ieoodt `h rhpneih `y eodtmhr tcssuh +++ Ct tmcighos tmh oecn pneth `y effcob ohw ihnnuner neyhrs
VMH OECN @HF Mcbmny sphicenczhf struiturh rhspdosc`nh1 Ldr tmh efmhscdo dl tmh oecn pneth Ndobctufcoen rcfbhs jcxcob wctm tmh uofhrnycob surleih dl tmh oecn pneth Ldr tmh oecn pneth smeph Jey sdjhtcjhs, co eiuth ieshs, `h rhpneih `y eodtmhr tcssuh
VMH MS[DOSIMCXJ Vmh fcsten pert dl tmh oecn `hf wmhrh tmh oecn pneth nddshs cts efmhrhoih +++ Cts ndss (fcsten ejputetcdos7 punp ffeps) cs rhspdosc`nh ldr e pecolun oecn pneth efmhscdo
Jhimeocien `errchr + cjjuodndbci luoitcdo (rcim co pdnyouinher ihnns)
VMH [ EPDOS IMCX J
[rdxcjen oecn wenn/ldnf Nethren oecn wenns/ldnfs
[PD]CJEN OECN LDNF
Iuteohdus struiturh tmet hoicrinhs tmh oecn pneth Vmh iutcinh cs tmh shen tmet indshs tmh oecn ldnf Ct cs rhspdosc`nh ldr tmh smeph dl tmh oecn pneth
NEVHPEN OECN LDNFY
Hoicrinh tmh oecn pneth Erh rhspdosc`nh ldr `dtm cts smeph eof drchotetcdo
VMH OEC N [NE VH Yuppnh struiturh jefh dl tmrhh neyhrs dl ghretyodiyths ;,8 jj dl tmcigohss, jefh dl 0;% dl wethr, Fdu`nh idovhxcty (ndobctufcoen eof treosvhrsh) ! hstmhtci eof luoitcdoen merjdoy Cts smeph fhphofs lrdj tmh cothbrcty dl tmh uofhrnycob struiturhs eof perdoyimcuj
INCOCIEN IDOYHUXHOIHY
• Vmh oecn pneth cs sd suppnh tmet ct cs dltho coteit co oecn treuje
• Ct mes td `h rhjdvhf td shh eof rhpecr tmh nhscdos +++
OECN [NEVH YME[H FH[HOFY DL Vmh `doy suppdrt Vmh vdnujh dl tmh punp Vmh oecn `hf Vmh oecn ldnfs
INCOCIEN IDOYHUXHOIHY
• Sdu ieoodt mevh e odrjen oecn dvhr eo e`odrjen `doh • @doh ndss : mddg-oecn • Nerbh pmeneox : reight oecns • Jenuocdo : uobuhen fystrdpmce • Ertmrdscs : pcoihr oecn…
INCOCIEN IDOYHUXHOIH Oecn pneth efmhscdo cs
dony pdssc`nh cl tmh oecn `hf cs coteit " eoetdjcien surbcien rhidostruitcdo
[MSYCDNDBS
Odrjen oecn brdwtm cs dl 5,3 td 6,6 jj/jdotm, e jheo dl ;,9 jj/adur Vwd jdotms ldr tmh oecn pneth td hxct lrdj tmh prdxcjen ldnf, eof < jdotms ldr e idjpnhth oecn rhbrdwtm (ſtobhrs) Es tmh ſtrst oecn cs enweys crrhbuner, incocien rhsunts ieoodt `h aufbhf `hldrh doh yher
[MSYCDNDBS Leitdrs tmet coirhesh oecn brdwtm
Leitdrs tmet fhirhesh oecn brdwtm
Ndob ſtobhrs
? 0; yhers
Elthr oecn pneth evunscdo
Furcob ocbmt
[rhboeoiy
Co cjjd`cnczhf petchots, fhoutrctcdo
Doyimdpmebce Co werj iduotrchs
Elthr eo colhitcdo
Vmdsh leitdrs ieoodt `h jdfcſthf `y tmh surbhdo
ELVHP E VPEXJE Oecn pneth brdwtm stdps ldr 9 whhgs, prdxcjen pert tmcighos Vmho oecn brdwtm sphhfs up ldr 8; feys (tmh pneth `hidjhs tmcoohr) Vmho ct sndws ldr 9; feys Rmcim nhf td tmh idostctutcdo dl e @heu–s ncoh wmcim jdvhs wctm tmh oecn
\EYIXNEPCQEVCDO E. suphrſtichnnh E. fcstenh
E. prdxcjenh
E. idnnetãrenh penjecrh
Vmh oecn uoct cs mcbmny vesiunerczhf eof mhencob cs usuenny odt e prd`nhj Vmh sejh eppnchs ldr vhodus dr nyjpmetci frecoebh
COOHP\EVCDO
\hry rcim Xsuenny ohrvhs ldnndw tmh vhsshns Oecn surbhry cs vhry pecolun +++
OECN XOCV LXOIVCDOY Xshlun td siretim dr td fhlhof durshnvhs Vmhrjen hximeobhs Jhimeocien prdthitcdo ldr tmh fdrsuj dl tmh ſtobhr Hstmhtci +++ Luoitcdoen +++1 ct coirheshs punp shosc`cncty `y e iduothr prhssurh hllhit es ct cs tmh dony rcbcf struiturh dl tmh ſtobhrtcp [ciessd ghpt e ndob ncttnh ſtobhroecn ldr jcxcob pecots, Vurgcsm jho idjjdony ghhp suim e oecn ldr dphocob icberhtth wrepphrs.
E JDPH IDJ[NH] YSJ@DNCYJ
Co tmh jdvch «fdu`t·, letmhr Lnyoo ghhps mcs oecns ndob eof inheo. Vmcs cs e jhtepmdr tmet ydu ieo fd wmet hvhr ydu weot cl ydu fdo't bht ieubmt. Sdu mevh td fd ct "inheo". Vmcs rhlhrhoihs td tmh imcnf jdnhstetcdo. Nethr co tmh jdvch, Jhryn Ytrhhp's imereithr thnns mcj td iut mcs oecns. Ymh syj`dncienny thnns mcj td stdp jdnhstcob tmh imcnfrho. Vmh ſtobhroecns idvhr tmh ſtobhrs aust es tmh Jhriy Yhet idvhrhf tmh Erg dl tmh Idvhoeot (erimh f–ennceoih).
OECN @HF CO
AXPS
H[CFHJCDNDBS DL OECN VPEXJE
Hpcfhjcdndbcien stufy (5=2 ieshs co 0 yhers) - E`dut =% dl enn meof hjhrbhoichs Essdicethf nhscdos [unp1 0<,2% Fcsten pmeneox Lx1 58,8% [unp nhscdo + Lx1 0<,0% Eodtmhr nhscdo do tmh ſtobhr/meof1 55,=%
Enjdst 2;% dl essdicethf nhscdos !
H[CFHJCDNDBS DL OECN VPEXJE
Irusmcob jhimeocsj +++ 8;% dl nhscdos whrh co tmh fcsten pert dl tmh oecn uoct Et nhest <8% ohhfhf e surbcien rhpecr
DOH INCOCIEN IDOYHUXHOIH
Fd odt ldrbht ]-reys !
MDR VD P H[ ECP CV
4
RMEV FD RH OHHF 4 E bddf eohstmhsce / peco gcnnhrs Yjenn costrujhots E lrhhr hnhvetdr Nduphs Yjenn suturhs ([FY
ENVMDXBM IDOVPD\HPYCEN Hvhry tcjh ct cs pdssc`nh rhpneih tmh oecn pneth. Ct enndws1 Vd « jdnf · tmh rhpecr Vd prdthit ct Vd ncjct peco furcob frhsscob Vd coirhesh punp shosc`cncty
@ut fdo–t ldrbht td jegh e mdnh ldr frecoebh
YX@X OBXE N MHJE VDJE Y Od spdoteohdus hveiuetcdo es tmh hfbhs dl tmh oecn erh stcnn efmhrhot Oecn mhjetdje fhvhndps co tmh nhss efmhrhot erhe (c.h.tmh nuoune) \hry pecolun, ieo `h punsetcn Cl tmh surleih dl tmh mhjetdje ? 08% ydu jey fcsiuss
Ycjpnh frecoebh1 Ohhfnh oecn trhpmcoetcdo dr wctm e pephr incp. Enweys twd mdnhs et tmh nhvhn dl tmh nuoune. Oecn pneth rhjdven # td vhrcly oecn `hf cothbrcty eof td rhpecr ct cl ohihssery.
OD INHEP PHIDJJEOFEVCDO [rdsphitcvh stufchs mevh smdwo1 Vmet dony 8;% dl oecn `hf coaurchs erh rhpere`nh Vmhrh wes od fcllhrhoih `htwhho rhpecr eof scjpnh frecoebh C prhlhr scjpnh frecoebh Ycjdo, 53=27 Yhe`hrb, 5335
Yu`uobuen Ldrhcbo @dfchs
- Vmh scjpnhst (w/d eohstmhsce)1 prdbrhsscvh tmcoocob dl tmh oecn pneth wctm e goclh. Sdu rhjdvh imcps dl oecn pneth uotcn ydu ieo tegh tmh ldrhcbo `dfy, `ut ct cs rucocob ldr tmh oecn pneth ! - @htthr td rhjdvh tmh pneth ! - @h ierhlun wctm wddf spncothrs1 jey putrcly
OECN @HF COAX PS Phjdvh tmh oecn pneth (rh-ſtx ct dr rhpneih ct et tmh hof) Resm coaurhf tcssuhs Od fh`rcfhjhot Phfuih eof hvhotuenny ſtx e lreiturh Phpecr tmh oecn `hf (
CO JDPH YH\HPH IEYHY
[rcoicpnhs erh cfhotcien Od fh`rcfhjhot, odo vesiunerczhf perts wcnn eit ncgh brelts
Coctcen nhscdo
Elthr oecn pneth rhjdven eof nevebh
Elthr oecn pneth su`stctuth Elthr suturh dl punp eof oecn `hf
CL VMHPH CY EO EYYDICEVHF LPEIVXPH 4
Oecn pneth rhſtxetcdo cs
usuenny ennste`cnczh tmet cs tmh ohhfhf td lreiturh Sdu ieo ensd ush ohhfnhs dr G-Rcrhs
CO IEYH DL OECN @HF NDYY 4
Cl tmh oecn `hf cs stcnn etteimhf td tmh oecn pneth, Phpneih tmh pneth `eig co
pneih (tmh oecn `hf cs ush ncgh e thoscdohf brelt)
CO IEYH DL OECN @HF NDYY 4
Dr fhteim ct eof ush ct es e brelt
CL VMHPH CY E OECN @HF NDYY ! OECN @HF BPELV Ypnct tmcigohss oecn `hf brelt (sejh ſtobhr, mennux) Vegh nhss tmeo 9;; ¸ tmcigohss wmcim cs fclſtiunt fuh td tmh idovhxcty dl tmh mennux oecn `hf (tmcigohss 3;;¸)
9 jdotms LX
LXNN-VMCIGOHYY OECN @HF BPELV
Ieo ensd `h ushf cl tmh lrebjhot cs evecne`nh dr cl tmhrh cs e odorhpneote`nh ſtobhr
56 jdotms LX
FCY VEN LCO BHP VC[ EJ[XVEVCDO Jdst ejputetcdos bd
tmrdubm tmh `hf wctm prhshrvetcdo dl tmh jetrcx 8;% dl nhscdos erh co tmh fcsten menl dl oecn epperetus ! Phpneotetcdo wmho pdssc`nh cs tmh `hst trhetjhot
CL PH[ NEO VEVC DO ODV [DYYC@NH Phpdsctcdo (5;% idjpnhth eof 96% pertcen brelt survcven reth co imcnfrho - iuttcob pdcot cs 6 yhers) - W@utnhrZ <5% suiihss reth cl fdoh wctmco 6 mdurs vs ;% elthr WJdchjhoZ
Ytcnn wdrtm trycob co imcnfrho @utnhr F[ ht en. Vmh dutidjhs dl fcbcten tcp ejputetcdo rhpneihjhot es e idjpdscth brelt co e pehfcetrci pdpunetcdo. A Meof Yurb Hur 0;5<765(0)15<6-52; Jdchjho OY, Hnncdt F. Idjpdscth brelt rhpneihjhot dl fcbcten tcps. A Meof Yurb @r 53327 00@(9)196<-980
CL PH[NEOVEVCDO ODV [DYYC@NH PH[DYCVCDO-LNE[ Phpdsctcdo « ho `ndi · dl tmh oecn epperetus eof pmeneox Eof idvhrebh wctm e vdner ffep Bddf survcven dl tmh oecn, `ut fhldrjcty (mddg-oecn) co 8;-<;% dl ieshs fuh td `doh rhsdrptcdo
VMH FHYH[CFHPJCQHF LNE[ Ldr fcsten oecn `hf coaury covdnvcob tmh punp (up td 28% dl tmh oecn `hf) Phidostruit tmh punp wctm e vdner ffep Rmcim fcsten pert cs fhshpcfhrjczhf eof ushf es e fhrjen brelt ldr tmh oecn `hf Fujdotchr I ht en. Eoo Imcr [nest Hstmht 53307 92(8)1889-883
ODV VD LDPBHV Ycjpnh frhsscob co nhss shvhrh nhscdo tmet wcnn nhevh tmh petchot wctm e ncjcthf fystrdpmy Dr tcssuhs epprdxcjetcdo
Dburd secf wh fd odt ohhf td rhpecr tmh oecn `hf < Jdotms
Idvhrebh dl tmh nhscdos `y eo ertcſtiecn oecn pneth td enndw ldr oecn `hf rhbhohretcdo / mhencob
3J
CO IMCNFPHO 4 Yurbcien hxpndretcdo cs ensd ohhfhf Bddf rhsunts (=8%) whrh d`shrvhf elthr surbcien rhpecr idjperh td 80% co odo-rhpecrhf coaurchs (Erfduco) @hwerh dl Yhyjdur–s nhscdo tmet ohhfs g-wcrh ſtxetcdo ELVHP nevebh
JEVPC] COAX PCHY [rcoicpnhs erh tmh sejh `ut shquhneh erh enweys jdrh shvhrh1 rcfbhs, ireigs, dr hvho oecn ndss Vd hxthof tmh coicscdos1 ush Geoevhn–s thimocquh1 0 coicscdos et tmh auoitcdo prdxcjen-nethren ldnf
Hxthof td tmh FC[ cl ohihssery Vmh sier dl tmh oecn pneth wcnn `h mcffho uofhr tmh nethren ldnfs.
COAXPCHY VD VMH [EPDOSIMCXJ
@htthr td ush ffeps td rhidostruit tmh ldnfs
Jeoy tmeogs td Fr Ncofsey JXCP eof tmh @YYM ldr ydur covctetcdo
Vmeogs ldr ydur etthotcdo
