AUDIOLINE AB878 User manual

AB878
Bedienungsanleitung
Operating Instructions
Digitaler Anrufbeantworter
Digital Answering Machine

,QKDOWVYHU]HLFKQLV


6LFKHUKHLWVKLQZHLVH  
%HGLHQHOHPHQWH  
,QEHWULHEQDKPH  
9RU,QEHWULHEQDKPH  
9HUSDFNXQJVLQKDOWSU IHQ  
%DWWHULHHLQVHW]HQQLFKWLP/LHIHUXPIDQJ 
7HOHIRQNDEHOXQG1HW]WHLODQVFKOLHHQ  
*UXQGHLQVWHOOXQJHQYRUQHKPHQ  
%HGLHQXQJ
$QUXIEHDQWZRUWHUHLQVWHOOHQ 
%HWULHEVDUWDXVZlKOHQ
6WDQGDUGDQVDJHEHQXW]HQ 
(LJHQH$QVDJHDXIQHKPHQ
(LJHQH$QVDJHO|VFKHQXQG]XU6WDQGDUGDQVDJH
]XU FNNHKUHQ 
$Q]DKOGHU.OLQJHO]HLFKHQHLQVWHOOHQ
$QUXIOlQJHHLQVWHOOHQ 
$OOJHPHLQH%HGLHQXQJ 
(LQ$XVVFKDOWHQ 
0LWK|UHQHLQJHKHQGHU1DFKULFKWHQ
$QUXIEHDQWZRUWHUXQWHUEUHFKHQ
1DFKULFKWHQDEK|UHQ 
:LHGHUJDEH 
/DXIHQGH1DFKULFKWZLHGHUKROHQ 
9RUKHULJH1DFKULFKWZLHGHUKROHQ 
(LQH1DFKULFKW EHUVSULQJHQ 
0HKUHUH1DFKULFKWHQ EHUVSULQJHQ 
(LQ]HOQH1DFKULFKWO|VFKHQ
$OOH1DFKULFKWHQO|VFKHQ
$OOH1DFKULFKWHQVSHLFKHUQ
1RWL]HQDXIQHKPHQ 
7HOHIRQJHVSUlFKHDXIQHKPHQ 
$QUXIHUOLVWH&/,3
$QUXIHUOLVWHHLQVHKHQ 
7HOHIRQQXPPHUDXVGHU$QUXIHUOLVWHGLUHNWDQZlKOHQ 
7HOHIRQQXPPHUDXVGHU$QUXIHUOLVWHO|VFKHQ
.RPSOHWWH$QUXIHUOLVWHO|VFKHQ






,QKDOWVYHU]HLFKQLV


)HUQDEIUDJH  
'HU%HUHFKWLJXQJVFRGH]XU)HUQDEIUDJH
'LHJHE KUHQIUHLH9RU)HUQDEIUDJH 
0|JOLFKNHLWHQGHU)HUQDEIUDJH
$QVDJH EHU)HUQDEIUDJHQHXDXIQHKPHQ 
)HUQ(LQVFKDOWHQ
)HUQDEIUDJHEHL]XZHQLJ6SHLFKHUNDSD]LWlW 
5DXP EHUZDFKXQJ 
:LFKWLJH,QIRUPDWLRQHQ  
)HKOHUVXFKH 
*DUDQWLH 
.RQIRUPLWlWVHUNOlUXQJ

2SHUDWLQJ,QVWUXFWLRQLQ(QJOLVK BBBBBBBBBBBBBBBBBBBB 

6LFKHUKHLWVKLQZHLVH


6LFKHUKHLWVKLQZHLVH

%LWWHOHVHQ6LHGLHVH%HGLHQXQJVDQOHLWXQJVRUJIlOWLJGXUFK%HLHYHQWXHOODXIWUHWHQGHQ
)UDJHQZHQGHQ6LHVLFKELWWHDQXQVHUHQ6HUYLFHXQWHUGHU6HUYLFH+RWOLQH
gIIQHQ6LHGDV*HUlWLQNHLQHP)DOOVHOEVWXQGI KUHQ6LHNHLQH
HLJHQHQ5HSDUDWXUYHUVXFKHDXV%HL*HZlKUOHLVWXQJVDQVSU FKHQZHQGHQ6LHVLFK
ELWWHDQ,KUHQ)DFKKlQGOHU

%HVWLPPXQJVJHPlH9HUZHQGXQJ
'LHVHU$QUXIEHDQWZRUWHULVWI UGHQ%HWULHEDQHLQHPDQDORJHQ7HOHIRQDQVFKOXVV
3671LQQHUKDOE'HXWVFKODQGVHQWZLFNHOWZRUGHQ$OOHUGLQJVNDQQZHJHQGHU
8QWHUVFKLHGH]ZLVFKHQGHQYHUVFKLHGHQHQ7HOHNRP1HW]EHWUHLEHUQNHLQH*DUDQWLHI U
HLQZDQGIUHLH)XQNWLRQDQMHGHP7HOHNRP(QGJHUlWHDQVFKOXVV EHUQRPPHQZHUGHQ
'HU$QUXIEHDQWZRUWHUEHVLW]WGLH9RUDXVVHW]XQJHQXPDQHLQHU7$(6WHFNGRVHPLW
)1&RGLHUXQJJHPHLQVDPPLW7HOHIRQHQPLW)&RGLHUXQJEHQXW]W]XZHUGHQ
6FKOLHHQ6LHGDV$QVFKOXVVNDEHOGHV$QUXIEHDQWZRUWHUVQXUDQGLHGDI UEHVWLPPWHQ
7HOHIRQVWHFNGRVHQDQ:HFKVHOQ6LHGHQ6WHFNHUGHV$QVFKOXVVNDEHOVQLFKWDXV

%DWWHULH
.HLQHDXIODGEDUHQ%DWWHULHQRGHU$NNXSDFNVYHUZHQGHQ'LHVHN|QQHQ
P|JOLFKHUZHLVHHLQHQ.XU]VFKOXVVYHUXUVDFKHQ9HUZHQGHQ6LHEHLP$XVWDXVFKHQ
LPPHUQXUHLQH%ORFNEDWWHULH9
%DWWHULHQQLFKWLQV)HXHUZHUIHQRGHULQV:DVVHUWDXFKHQ$OWHRGHUGHIHNWH%DWWHULHQ
QLFKWPLWGHPQRUPDOHQ+DXVP OOHQWVRUJHQ

$XIVWHOORUW
$P$XIVWHOORUWPXVVVLFKHLQH1HW]VWHFNGRVHPLW9ROWEHILQGHQ6WHOOHQ6LHGLH
%DVLVVWDWLRQQLFKWLQGLHXQPLWWHOEDUH8PJHEXQJYRQDQGHUHQHOHNWURQLVFKHQ*HUlWHQ
ZLH]%0LNURZHOOHQRGHU+L)L*HUlWHQGDHVVRQVW]XJHJHQVHLWLJHU%HHLQIOXVVXQJ
NRPPHQNDQQ'HU$XIVWHOORUWKDWHLQHQHQWVFKHLGHQGHQ(LQIOXVVDXIHLQHQ
HLQZDQGIUHLHQ%HWULHEGHV$QUXIEHDQWZRUWHUV

6WHOOHQ6LHGHQ$QUXIEHDQWZRUWHUDXIHLQHHEHQHXQGUXWVFKIHVWH)OlFKH
1RUPDOHUZHLVHKLQWHUODVVHQGLH) HGHV$QUXIEHDQWZRUWHUVNHLQH6SXUHQDXIGHU
$XIVWHOOIOlFKH:HJHQGHU9LHO]DKOGHUYHUZHQGHWHQ/DFNHXQG2EHUIOlFKHQNDQQHV
MHGRFKQLFKWDXVJHVFKORVVHQZHUGHQGDVVGXUFKGLH*HUlWHI H6SXUHQDXIGHU
$EVWHOOIOlFKHHQWVWHKHQ

9HUZHQGHQ6LHGHQ+DQGDSSDUDWQLFKWLQH[SORVLRQVJHIlKUGHWHQ%HUHLFKHQ

hEHUPlLJH%HODVWXQJHQGXUFK5DXFK6WDXE(UVFK WWHUXQJHQ&KHPLNDOLHQ
)HXFKWLJNHLW+LW]HRGHUGLUHNWH6RQQHQHLQVWUDKOXQJP VVHQYHUPLHGHQZHUGHQ


6LFKHUKHLWVKLQZHLVH


1HW]WHLO
9HUZHQGHQ6LHQXUGDVPLWJHOLHIHUWH$8',2/,1(6WHFNHUQHW]WHLOGDDQGHUH1HW]WHLOH
GDV7HOHIRQ]HUVW|UHQN|QQHQ(VEHVWHKW/HEHQVJHIDKUZHQQGDV6WHFNHUQHW]WHLO
JH|IIQHWXQGQLFKWYRP6WURPQHW]JHWUHQQWZLUG

(QWVRUJXQJ
,VWGLH*HEUDXFKV]HLWGHU%DWWHULHQRGHUGHUJHVDPWHQ$QODJHDEJHODXIHQHQWVRUJHQ
6LHGLHVHELWWHXPZHOWIUHXQGOLFKJHPlGHQJHVHW]OLFKHQ%HVWLPPXQJHQ

7HPSHUDWXUXQG8PJH XQJV HGLQJXQJHQ
'DV7HOHIRQLVWI UGHQ%HWULHELQJHVFK W]WHQ5lXPHQPLWHLQHP7HPSHUDWXUEHUHLFK
YRQ&ELV&DXVJHOHJW'HU$QUXIEHDQWZRUWHUGDUIQLFKWLQ)HXFKWUlXPHQZLH
%DGRGHU:DVFKN FKHDXIJHVWHOOWZHUGHQ9HUPHLGHQ6LHGLH1lKH]X:lUPHTXHOOHQ
ZLH+HL]N|USHUQXQGVHW]HQ6LHGDV*HUlWNHLQHUGLUHNWHQ6RQQHQEHVWUDKOXQJDXV

5HLQLJXQJXQG3IOHJH
'LH*HKlXVHREHUIOlFKHQN|QQHQPLWHLQHPWURFNHQHQZHLFKHQXQGIXVVHOIUHLHQ7XFK
JHUHLQLJWZHUGHQ1LHPDOV5HLQLJXQJVPLWWHORGHUJDUDJJUHVVLYH/|VXQJVPLWWHO
YHUZHQGHQ$XHUHLQHUJHOHJHQWOLFKHQ*HKlXVHUHLQLJXQJLVWNHLQHZHLWHUH3IOHJH
HUIRUGHUOLFK'LH*XPPLI HGHV$QUXIEHDQWZRUWHUVVLQGQLFKWJHJHQDOOH
5HLQLJXQJVPLWWHOEHVWlQGLJ'HU+HUVWHOOHUNDQQGDKHUQLFKWI UHYWO6FKlGHQDQ
0|EHOQRlKDIWEDUJHPDFKWZHUGHQ

&(=HLFKHQ
'DV7HOHIRQVWLPPWPLWGHQJUXQGOHJHQGHQ$QIRUGHUXQJHQGHU577('LUHFWLYH
EHUHLQ'LHVZLUGGXUFKGDV&(=HLFKHQEHVWlWLJW

%HGLHQHOHPHQWH


%HGLHQHOHPHQWH

TIME CHECK
REC
ANRUFBEANTWORTER AB878
AUDIOLINE
REVIEW
4
1
2
6
3
5
7
9
8
10
12
11


/('$Q]HLJHI UQHXHLQJHJDQJHQH
1DFKULFKWHQ
$XVZDKOWDVWHQGHU$QUXIHUOLVWH&/,3
$EVSLHOHQYRQ1DFKULFKWHQ3DXVH
9RUODXI7DVWH]XP$EVSLHOHQGHU
7DJXQG=HLWDQVDJH
/|VFKHQYRQ1DFKULFKWHQ0HPRV
XQG$QVDJHQ
(LQVWHOOXQJGHU/DXWVWlUNHODXWHU
6WRSS(LQ$XV$QUXIEHDQWZRUWHU
(LQVWHOOXQJGHU/DXWVWlUNHOHLVHU
$XIQDKPHYRQ0HPRV0LWVFKQHLGHQ
YRQ*HVSUlFKHQ
5 FNODXI$XIQDKPHGHU$QVDJH
/|VFKHQYRQ5XIQXPPHUQGHU
$QUXIHUOLVWH
'LUHNWZDKODXVGHU$QUXIHUOLVWH


%HGLHQHOHPHQWH


5HFKWH6HLWH
26TS
ANRUFLAENGE
60 120
12


$QUXIDQQDKPHQDFKRGHU.OLQJHO]HLFKHQ9RUIHUQDEIUDJH
(LQVWHOOXQJGHUPD[LPDOHQ$QUXIOlQJHYRQRGHU6HNXQGHQ

5FNVHLWH
123
DC 9V 300mA
+
-
TEL. LINE
NUR
AUFN. ANSAGE

$QVFKOXVV]XU7HOHIRQVWHFNGRVH
$QVFKOXVV6WHFNHUQHW]WHLO'&9P$
8PVFKDOWHUÄ$XIQDKPHYRQ1DFKULFKWHQ³±Ä1XU$QVDJH³

8QWHUVHLWH
'DV%DWWHULHIDFKEHILQGHWVLFKDXIGHU8QWHUVHLWH

,QEHWULHEQDKPH


,Q HWULH QDKPH
9RU,Q HWULH QDKPH
$&+781*/HVHQ6LHYRUGHU,QEHWULHEQDKPHXQEHGLQJWGLH6LFKHUKHLWVKLQZHLVHDP
$QIDQJGLHVHU$QOHLWXQJ
9HUSDFNXQJVLQKDOWSUIHQ
=XP/LHIHUXPIDQJJHK|UHQ
HLQ$QUXIEHDQWZRUWHU HLQ6WHFNHUQHW]WHLO
HLQ7HOHIRQDQVFKOXVVNDEHO HLQH%HGLHQXQJVDQOHLWXQJ
%DWWHULHHLQVHW]HQQLFKWLP/LHIHUXPIDQJ
%HYRU6LH,KUHQQHXHQ$QUXIEHDQWZRUWHUPLWGHP7HOHIRQQHW]YHUELQGHQVROOWHHLQH
%DWWHULHHLQJHEDXWZHUGHQ%LWWHEHQXW]HQ6LHLPPHUHLQHQHXH%DWWHULHGHV7\SV
%ORFNEDWWHULH9$ONDOLQH'LH%DWWHULHZLUGI UGLH'DWHQVLFKHUXQJEHLHLQHP
P|JOLFKHQ6WURPDXVIDOOYHUZHQGHW0LWHLQHUQHXHQ%DWWHULHEOHLEHQGLH'DWHQI UFD
6WXQGHQJHVLFKHUW

+LQZHLV6REDOGLP'LVSOD\GLH$Q]HLJH HUVFKHLQWLVWGLH%DWWHULHYHUEUDXFKW
XQGPXVVDXVJHWDXVFKWZHUGHQ

$FKWHQ6LHGDUDXIGDVVGHU$QUXIEHDQWZRUWHUQLFKWPLWGHP7HOHIRQQHW]
YHUEXQGHQLVW
'DV%DWWHULHIDFKEHILQGHWVLFKDXIGHU8QWHUVHLWH,KUHV$QUXIEHDQWZRUWHUV
gIIQHQ6LHGDV%DWWHULHIDFKPLWHLQHPNOHLQHQ6FKUDXEHQ]LHKHU
9HUELQGHQ6LHGHQ%DWWHULHVWHFNHUPLWGHU%DWWHULHXQGOHJHQ6LHGLHVHLQGDV
%DWWHULHIDFK
6FKOLHHQ6LHGDV%DWWHULHIDFK
7HOHIRQND HOXQG1HW]WHLODQVFKOLHHQ
9HUELQGHQ6LHGHQNOHLQHQ6WHFNHUGHVPLWJHOLHIHUWHQ7HOHIRQNDEHOVPLWGHU
7HOHIRQEXFKVHDXIGHU5 FNVHLWHGHV$QUXIEHDQWZRUWHUVXQGYHUELQGHQ6LHGDVDQGHUH
(QGHPLW,KUHU7$($QVFKOXVVGRVH.RGLHUXQJ1 I U=XVDW]JHUlWHZLH
$QUXIEHDQWZRUWHU7HOHID[6WHFNHQ6LHGDV1HW]WHLOLQHLQHYRUVFKULIWVPlLJ
LQVWDOOLHUWH6FKXNRVWHFNGRVHXQGGDVDQGHUH(QGHLQGLH%XFKVHDXIGHU5 FNVHLWHGHV
$QUXIEHDQWZRUWHUV

,KUQHXHU$QUXIEHDQWZRUWHUEHQ|WLJWEHLPHUVWHQ(LQVFKDOWHQFD6HNXQGHQXP
DOOH)XQNWLRQHQ]XLQLWLDOLVLHUHQ1DFKGHUHUVWHQ,QLWLDOLVLHUXQJ]HLJWGDV'LVSOD\GLH
0HOGXQJ/&'.2175$67



,QEHWULHEQDKPH


*UXQGHLQVWHOOXQJHQYRUQHKPHQ
%HYRU6LHGHQ$QUXIEHDQWZRUWHULQ%HWULHEQHKPHQN|QQHQP VVHQHLQLJH
*UXQGHLQVWHOOXQJHQYRUJHQRPPHQZHUGHQ'D]XJHK|UWGLH(LQJDEHGHVDNWXHOOHQ
'DWXPVXQGGHU8KU]HLWVRZLH,KUHU2UWVYRUZDKOXQGGHU/DQGHVYRUZDKOYRQ
'HXWVFKODQG

+LQZHLV]XU2UWVXQG/DQGHVYRUZDKO7HOHIRQQXPPHUQZHUGHQLP'LVSOD\
LPPHUPLWGHU2UWVYRUZDKORGHUEHL$XVODQGVJHVSUlFKHQDXFKPLWGHU
HQWVSUHFKHQGHQ/DQGHVYRUZDKODQJH]HLJW:HUGHQGLHVH5XIQXPPHUQGLUHNW EHUGLH
$QUXIHUOLVWHJHZlKOWNDQQEHL2UWVJHVSUlFKHQGLH9RUZDKOQDW UOLFKZHJJHODVVHQ
ZHUGHQ'HVKDOEVROOWHQ6LH,KUH2UWVYRUZDKOLPPHUEHJLQQHQGPLWPLWPD[I QI
6WHOOHQXQGGLH/DQGHVYRUZDKOYRQ'HXWVFKODQGHLQJHEHQ

1DFKGHPGDV1HW]WHLODQJHVFKORVVHQZXUGH]HLJWGDV'LVSOD\GLH0HOGXQJ/&'
.2175$67

+LQZHLV(UVFKHLQWGLH0HOGXQJ/&'.2175$67QLFKWPHKURGHUP VVHQ6LHGLH
8KU]HLWDXI:LQWHURGHU6RPPHU]HLWXPVWHOOHQGU FNHQ6LHI U6HNXQGHQ
JOHLFK]HLWLJGLHEHLGHQ7DVWHQ UHFKWVQHEHQGHP'LVSOD\

%HVWlWLJHQ6LHGLH$Q]HLJH/&'.2175$67PLWGHU7DVWH ,P'LVSOD\
HUVFKHLQWGLHDNWXHOOH.RQWUDVWHLQVWHOOXQJ
0LWGHQ7DVWHQ N|QQHQ6LHQXQGHQJHZ QVFKWHQ.RQWUDVWHLQVWHOOHQ
%HVWlWLJHQ6LHGLH(LQVWHOOXQJPLWGHU7DVWH ,P'LVSOD\HUVFKHLQWGLH
0HOGXQJ7$*(,167(//(1
%HVWlWLJHQ6LHPLWGHU7DVWH 'DV'LVSOD\]HLJWGHQDNWXHOOHLQJHVWHOOWHQ7DJ
XQG6LHK|UHQGLHDNWXHOOH(LQVWHOOXQJ EHUGHQ/DXWVSUHFKHU
'XUFKPHKUPDOLJHV'U FNHQGHU 7DVWHQJHEHQ6LHGHQDNWXHOOHQ7DJHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH 'DV'LVSOD\HUVFKHLQWGLH0HOGXQJ=(,7
(,167(//(1
%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\EOLQNWGLH6WXQGHQDQ]HLJHXQG6LH
K|UHQGLHDNWXHOOH(LQVWHOOXQJ EHUGHQ/DXWVSUHFKHU
'XUFKPHKUPDOLJHV'U FNHQGHU 7DVWHQJHEHQ6LHGLH6WXQGHHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\EOLQNWGLH0LQXWHQDQ]HLJHXQG6LH
K|UHQGLHDNWXHOOH(LQVWHOOXQJ EHUGHQ/DXWVSUHFKHU
'XUFKPHKUPDOLJHV'U FNHQGHU 7DVWHQJHEHQ6LHGLH0LQXWHQHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\HUVFKHLQWGLH0HOGXQJ'$780
(,167(//(1

,QEHWULHEQDKPH


%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\EOLQNWGLH7DJHVDQJDEHGHU
'DWXPVDQ]HLJH
'XUFKPHKUPDOLJHV'U FNHQGHU 7DVWHQJHEHQ6LHGHQ7DJHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\EOLQNWGLH0RQDWVDQJDEHGHU
'DWXPVDQ]HLJH
'XUFKPHKUPDOLJHV'U FNHQGHU 7DVWHQJHEHQ6LHGHQ0RQDWHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH ,P'LVSOD\HUVFKHLQWGLH0HOGXQJ
2576925:$+/
6REDOGGHU&XUVRUDXIGHUHUVWHQ6WHOOHEOLQNWN|QQHQ6LHPLWGHQ7DVWHQ 
GLHHUVWH=DKO,KUHU2UWVYRUZDKOHLQJHEHQ
%HVWlWLJHQ6LHPLWGHU7DVWH XQGGHU&XUVRUEOLQNWDXIGHU]ZHLWHQ6WHOOH
*HEHQ6LHMHW]WPLWGHQ7DVWHQ GLH]ZHLWH=DKO,KUHU9RUZDKOHLQ
%HVWlWLJHQ6LHPLW XQGJHEHQ6LHQDFKGLHVHP6FKHPDDOOH=DKOHQHLQ%HL
NXU]HQ9RUZDKOHQGU FNHQ6LHDP(QGHPHKUPDOVGLH7DVWH ELVGLH0HOGXQJ
/$1'(6925:$+/LP'LVSOD\HUVFKHLQW
%HVWlWLJHQ6LHPLWGHU7DVWH 'HU&XUVRUEOLQNWDXIGHUHUVWHQ6WHOOH
*HEHQ6LHQXQGLHJHVDPWHGHXWVFKH/DQGHVYRUZDKOÄ³QDFKGHP9HUIDKUHQ
GHU2UWVYRUZDKOHLQ
%HVWlWLJHQ6LHPLWGHU7DVWH 'LH(LQJDEHLVWQXQEHHQGHWXQGGLHDNWXHOOHQ
'DWHQZHUGHQLP'LVSOD\DQJH]HLJW

+LQZHLVH
x0 VVHQ6LHGLH*UXQGHLQVWHOOXQJHQVSlWHUHLQPDOYHUlQGHUQVWDUWHQ6LHGLH
3URJUDPPLHUXQJGXUFKGDVJOHLFK]HLWLJH'U FNHQGHU7DVWHQ 0LWGHQ
7DVWHQ N|QQHQ6LHVLFKQXQLP0HQ EHZHJHQ0LWGHU7DVWH N|QQHQ
6LHGHQJHZ QVFKWHQ0HQ SXQNWDQZlKOHQXQGGLHJHZ QVFKWHQ(LQJDEHQ
YRUQHKPHQ
x6LQGGLH%DWWHULHQNRPSOHWWHQWODGHQPXVVGLH*UXQGHLQVWHOOXQJHQHUQHXW
HLQJHEHQZHUGHQ
x8PHLQH=DKODXVGHU2UWVRGHU/DQGHVYRUZDKOJDQ]]XO|VFKHQVWHOOHQ6LH EHU
GLH7DVWHQ HLQ0LQXV]HLFKHQHLQ
x0LWGHU7DVWH N|QQHQ6LHGDV0HQ MHGHU]HLWYHUODVVHQ
x6REDOG6HNXQGHQODQJNHLQH(LQJDEHYRUJHQRPPHQZLUGGLH3URJUDPPLHUXQJ
DEJHEURFKHQ
x'LH7DJXQG=HLWDQVDJHNDQQMHGHU]HLW EHUSU IWZHUGHQ'U FNHQ6LHHLQIDFK
GLH7DVWH
 7,0 (&+ (&.
XQG6LHK|UHQGHQ:RFKHQWDJXQGGLHDNWXHOOH8KU]HLW


%HGLHQXQJ


%HGLHQXQJ
$QUXI HDQWZRUWHUHLQVWHOOHQ
 %HWULHEVDUWDXVZlKOHQ
0LW,KUHP$QUXIEHDQWZRUWHUN|QQHQ6LH]ZLVFKHQ]ZHLYHUVFKLHGHQH%HWULHEVDUWHQ
ZlKOHQ) UMHGH%HWULHEVDUWVWHKWHLQHHLJHQH$QVDJHPLWMHZHLOVELV]X6HNXQGHQ
]XU9HUI JXQJ

$XIQDKPH:HUNVHLQVWHOOXQJ
'HU$QUXIHUK|UW,KUH$QVDJHXQGNDQQHLQH1DFKULFKWI U6LHKLQWHUODVVHQ

%HLVSLHO³+DOORKLHULVWGHU$QVFKOXVV/HLGHUVLQGZLULP0RPHQWQLFKW
]XHUUHLFKHQXP KUHQ$QUXIHQWJHJHQ]XQHKPHQ6LHKDEHQDEHUGLH0|JOLFKNHLWKLHU
HLQH1DFKULFKW]XKLQWHUODVVHQ6SUHFKHQ6LHELWWHQDFKGHP6LJQDOWRQ

1XU$QVDJH
'HU$QUXIHUNDQQNHLQH1DFKULFKWKLQWHUODVVHQ%HQXW]HQ6LHGLHVH$QVDJHZHQQ6LH
GHQ$QUXIHUQQXUHLQHQ,QIRUPDWLRQKLQWHUODVVHQP|FKWHQ6RN|QQHQ6LH,KUHQ
$QUXIEHDQWZRUWHUDOV$QVDJHGLHQVWEHQXW]HQ'HU$QUXIHUK|UW,KUHDXIJHVSURFKHQH
$QVDJHXQGGLH9HUELQGXQJZLUGGDQDFKDXWRPDWLVFKXQWHUEURFKHQ

$&+781*+DEHQ6LHGLH)XQNWLRQÄ185$16$*(³JHZlKOWPVVHQ6LHHLQHHLJHQH
$QVDJHPLWHLQHPVSH]LHOOHQ7H[WDXIQHKPHQ:HLVHQ6LHGHQ$QUXIHUGDUDXIKLQ
GDVVHUNHLQH1DFKULFKWKLQWHUODVVHQNDQQ

%HLVSLHO³+DOORKLHULVWGHU$QVFKOXVV6LHUXIHQDXHUKDOEXQVHUHU
*HVFKlIW]HLWHQDQ:LUVLQG0RQWDJVELV)UHLWDJVYRQ8KUELV8KUIU6LH
GD'LHVH$QVDJHZLUGQXQEHHQGHW

$XIGHU5 FNVHLWH,KUHV$QUXIEHDQWZRUWHUVEHILQGHWVLFKGHU6FKLHEHVFKDOWHUÄ$8)1
185$16$*(³1RUPDOHUZHLVHVWHKWGLHVHU6FKDOWHUDXIGHU6WHOOXQJÄ$8)1³
$XIQDKPHXQGGLH$QUXIHUN|QQHQ,KUH1DFKULFKWKLQWHUODVVHQ








%HGLHQXQJ


 6WDQGDUGDQVDJHEHQXW]HQ
%HL,KUHU$QVDJHN|QQHQ6LHDXIGLH6WDQGDUGDQVDJHPLWZDKOZHLVHPlQQOLFKHURGHU
ZHLEOLFKHU6WLPPH]XU FNJUHLIHQRGHUHLQHHLJHQH$QVDJHPLWHLQHU/lQJHYRQELV]X
6HNXQGHQDXIQHKPHQ:HQQNHLQHHLJHQH$QVDJHDXIJHQRPPHQZXUGHPHOGHW
VLFKDXWRPDWLVFKGLH6WDQGDUGDQVDJHPLWPlQQOLFKHU6WLPPH

:RUWODXWGHU6WDQGDUGDQVDJH³%LWWHKLQWHUODVVHQ6LH KUH1DFKULFKWQDFKGHP
6LJQDOWRQ³

8P]ZLVFKHQGHUPlQQOLFKHQXQGGHUZHLEOLFKHQ6WDQGDUGDQVDJHXP]XVFKDOWHQ
GU FNHQ6LH]ZHLPDONXU]KLQWHUHLQDQGHUGLH7DVWH
5(&

 (LJHQH$QVDJHDXIQHKPHQ
%HYRU6LH,KUH$QVDJHDXIQHKPHQVROOWHQ6LHGHQ7H[WDXIVFKUHLEHQGHQ6LH
DXIQHKPHQP|FKWHQ'LH/lQJHGHUHLJHQHQ$QVDJHPXVVPLQGHVWHQV6HNXQGHQ
EHWUDJHQXQGGDUI6HNXQGHQQLFKW EHUVFKUHLWHQ-HOlQJHU,KUH$QVDJHGDXHUW
GHVWRZHQLJHU$XIQDKPH]HLWVWHKWI UGLHHLQJHKHQGHQ1DFKULFKWHQ]XU9HUI JXQJ
'LHPD[LPDOH$XIQDKPH]HLWEHWUlJWFD0LQXWHQ'DXHUW,KUH$QVDJH]%
6HNXQGHQVREOHLEHQ0LQXWHQXQG6HNXQGHQI UGLHHLQJHKHQGHQ1DFKULFKWHQ

+DOWHQ6LHGLH7DVWH
5(&
ELV]XHLQHP6LJQDOWRQJHGU FNW

1DFKGHP6LJQDOWRQEHJLQQHQ6LHGLUHNWPLW,KUHU$QVDJH'DV'LVSOD\]HLJWZlKUHQG
GHU$XIQDKPHGLH0HOGXQJ$16$*($8)1(+0(1+DOWHQ6LHZlKUHQGGHU
$XIQDKPHHLQH(QWIHUQXQJYRQFDFP]XP$QUXIEHDQWZRUWHUHLQVRGDVV6LHJXW
LQGDV0LNURIRQDXIGHU2EHUVHLWHVSUHFKHQN|QQHQ

1DFKGHP6LH,KUH$QVDJHEHHQGHWKDEHQODVVHQ6LHGLH7DVWH
5(&
ZLHGHUORV

'LH$QVDJHZLUGQXQDXWRPDWLVFKZLHGHUKROW'DV'LVSOD\]HLJWQXQGLH0HOGXQJ
$16$*($%63,(/(1'LH/DXWVWlUNHNDQQGXUFKPHKUPDOLJHV'U FNHQGHUEHLGHQ
3IHLOWDVWHQ XQG HLQJHVWHOOWZHUGHQ

'XUFKNXU]HV'U FNHQGHU7DVWH
5(&
N|QQHQ6LH,KUH$QVDJHMHGHU]HLWDEVSLHOHQ
 (LJHQH$QVDJHO|VFKHQXQG]XU6WDQGDUGDQVDJH]XUF HKUHQ
+DEHQ6LHHLQHHLJHQH$QVDJHDXIJHQRPPHQN|QQHQ6LHGLHVHO|VFKHQXQGGDPLW
]XU6WDQGDUGDQVDJH]XU FNNHKUHQ'U FNHQ6LHGLH7DVWH
5(&
:lKUHQG6LH,KUH
$QVDJHK|UHQGU FNHQ6LHGLH/|VFKWDVWH 


%HGLHQXQJ


 $Q]DKOGHU.OLQJHO]HLFKHQHLQVWHOOHQ
$QGHUUHFKWHQ6HLWHGHV$QUXIEHDQWZRUWHUVEHILQGHWVLFKHLQ6FKLHEHVFKDOWHUPLW
GHP6LHHLQVWHOOHQN|QQHQQDFKZLHYLHOHQ.OLQJHO]HLFKHQGLHHLQJHKHQGHQ$QUXIH
HQWJHJHQJHQRPPHQZHUGHQ

 'HU$QUXIZLUGQDFKPDO/lXWHQHQWJHJHQJHQRPPHQ
 'HU$QUXIZLUGQDFKPDO/lXWHQHQWJHJHQJHQRPPHQ
76 ,QGHU(LQVWHOOXQJ76ZLUGGHUHUVWH$QUXIQDFKPDO/lXWHQXQGDOOH
ZHLWHUHQ$QUXIHQDFKPDO/lXWHQHQWJHJHQJHQRPPHQ:HLWHUKLQ
N|QQHQ6LHLQGLHVHU6FKDOWHUVWHOOXQJGLHJHE KUHQIUHLH9RU)HUQDEIUDJH
EHQXW]HQ(LQ]HOKHLWHQILQGHQ6LHLP.DSLWHO
  $QUXIOlQJHHLQVWHOOHQ
'LHPD[LPDOH/lQJHI UHLQJHKHQGH1DFKULFKWHQEHWUlJWHQWZHGHURGHU
6HNXQGHQ0LWHLQHPNOHLQHQ6FKLHEHVFKDOWHUDXIGHUUHFKWHQ6HLWHN|QQHQ6LHGLH
$XI]HLFKQXQJVOlQJH]ZLVFKHQXQG6HNXQGHQXPVFKDOWHQ6SULFKWGHU$QUXIHU
OlQJHUHUW|QWHLQ6LJQDOWRQXQGGDV7HOHIRQDWZLUGDEJHEURFKHQ(QWVWHKWZlKUHQG
GHU$XIQDKPHHLQH3DXVHYRQ EHU6HNXQGHQZLUGGDV7HOHIRQDWDXWRPDWLVFKPLW
HLQHP6LJQDOWRQEHHQGHW
$OOJHPHLQH%HGLHQXQJ
 (LQ$XVVFKDOWHQ
'HU$QUXIEHDQWZRUWHUNDQQPLWGHU(LQ$XV7DVWH HLQ6WDQGE\RGHU
DXVJHVFKDOWHWZHUGHQ,VWGHU$QUXIEHDQWZRUWHUHLQJHVFKDOWHWOHXFKWHWGLH/(' EHU
GHU7DVWH 
 0LWK|UHQHLQJHKHQGHU1DFKULFKWHQ
'HUHLQJHEDXWH/DXWVSUHFKHUHUODXEWHVHLQJHKHQGH$QUXIHPLW]XK|UHQRKQHPLW
GHP$QUXIHU]XVSUHFKHQ0|FKWHQ6LHGLHHLQJHKHQGHQ$QUXIHQLFKWPLWK|UHQVWHOOHQ
6LHGLH/DXWVWlUNHGXUFKPHKUPDOLJHV'U FNHQGHU3IHLOWDVWH JDQ]QDFKXQWHQ
 $QUXIEHDQWZRUWHUXQWHUEUHFKHQ
6LHN|QQHQVLFKGXUFKGDV$EKHEHQGHV7HOHIRQK|UHUVMHGHU]HLWSHUV|QOLFK
HLQVFKDOWHQZlKUHQGGHU$QUXIHUVHLQH1DFKULFKWVSULFKW'HU$QUXIEHDQWZRUWHU
VFKDOWHWVLFKDXVXQG6LHN|QQHQPLWGHP$QUXIHUGLUHNWVSUHFKHQ




%HGLHQXQJ


1DFKULFKWHQD K|UHQ
%OLQNWGLH/('LQGHU7DVWH ZXUGHQZlKUHQG,KUHU$EZHVHQKHLWQHXH
1DFKULFKWHQ1RWL]HQ0(02RGHU7HOHIRQPLWVFKQLWWHDXIJH]HLFKQHWGLHQRFKQLFKW
DEJHK|UWZXUGHQ

+LQZHLV1HXH1DFKULFKWHQ1RWL]HQ0(02RGHU7HOHIRQPLWVFKQLWWHZHUGHQQLFKW
EHUGDV'LVSOD\VLJQDOLVLHUW
 :LHGHUJDEH
'U FNHQ6LHHLQPDOGLH7DVWH ,KU$QUXIEHDQWZRUWHUVSLHOWQXQ]XHUVWGLH
QHXDXIJH]HLFKQHWHQ1DFKULFKWHQDE%OLQNWGLH/('LQGHU7DVWH QLFKWZHUGHQ
DOOHDXIJHQRPPHQHQ1DFKULFKWHQDEJHVSLHOWGLH6LHQRFKQLFKWJHO|VFKWKDEHQ6LQG
NHLQH1DFKULFKWHQJHVSHLFKHUWK|UHQ6LHPHKUHUH6LJQDOW|QH

0|FKWHQ6LHGDV$EK|UHQGHU1DFKULFKWHQXQWHUEUHFKHQGU FNHQ6LHGLH7DVWH 
'XUFKQRFKPDOLJHV%HWlWLJHQYRQ ZLUGGDV$EK|UHQGHU1DFKULFKWHQIRUWJHVHW]W
0LWGHU7DVWH ZLUGGDV$EK|UHQGHU1DFKULFKWHQEHHQGHW1DFKGHPGLHOHW]WH
1DFKULFKWDEJHVSLHOWZXUGHPHOGHWVLFKGDV*HUlWPLW]ZHL6LJQDOW|QHQ
 /DXIHQGH1DFKULFKWZLHGHUKROHQ
'U FNHQ6LHGLH7DVWH
5 (&
XPGLHJHUDGHODXIHQGH1DFKULFKW]XZLHGHUKROHQ
 9RUKHULJH1DFKULFKWZLHGHUKROHQ
'U FNHQ6LHGLH7DVWH
5 (&
ELV]XHLQHP6LJQDOWRQXPGLHYRUKHULJH1DFKULFKW]X
ZLHGHUKROHQ
 (LQH1DFKULFKWEHUVSULQJHQ
'U FNHQ6LHHLQPDOGLH7DVWH
 7,0 (&+ (&.
XPGLHJHUDGHODXIHQGH1DFKULFKW]X
EHUVSULQJHQ'HU$QUXIEHDQWZRUWHUEHJLQQWQXQGLUHNWPLWGHUQlFKVWHQ1DFKULFKW
 0HKUHUH1DFKULFKWHQEHUVSULQJHQ
'U FNHQ6LHPHKUPDOVKLQWHUHLQDQGHUGLH7DVWH
 7,0 (&+ (&.
6RN|QQHQ6LHVFKQHOO
PHKUHUH1DFKULFKWHQ EHUVSULQJHQ
 (LQ]HOQH1DFKULFKWO|VFKHQ
'U FNHQ6LHGLH7DVWH ZlKUHQGGLH1DFKULFKWDEJHVSLHOWZLUG




%HGLHQXQJ


 $OOH1DFKULFKWHQO|VFKHQ
8PDOOH1DFKULFKWHQ]XO|VFKHQGU FNHQ6LHGLH7DVWH VRODQJHELV6LHHLQHQ
6LJQDOWRQK|UHQ
 $OOH1DFKULFKWHQVSHLFKHUQ
.HLQH(LQJDEHQQ|WLJ
1RWL]HQDXIQHKPHQ
0LW,KUHP$QUXIEHDQWZRUWHUN|QQHQ6LHGHQ0LWEHQXW]HUQGHV$QUXIEHDQWZRUWHUV
]%,KUHU)DPLOLH1DFKULFKWHQKLQWHUODVVHQ

+DOWHQ6LHGLH7DVWH JHGU FNW
1DFKHLQHP6LJQDOWRQEHJLQQHQ6LHPLWGHU$XIQDKPHGHU1RWL]'DV
'LVSOD\]HLJWGLH0HOGXQJ$8)1$+0(0(02=%Ä+DOOR7KRPDVGDV
(VVHQILQGHVW'XLP. KOVFKUDQN,FKELQXP8KU]XU FN³
+DEHQ6LH,KUH1DFKULFKWEHHQGHWODVVHQ6LHGLH7DVWH HLQIDFKORV
,P'LVSOD\HUVFKHLQWGLH$Q]HLJH0(02
'LHVH1DFKULFKWHQN|QQHQVSlWHUPLWGHU7DVWH DEJHK|UWZHUGHQ
7HOHIRQJHVSUlFKHDXIQHKPHQ
6LHN|QQHQHLQ7HOHIRQJHVSUlFKGDV6LHJHUDGHI KUHQDXI]HLFKQHQ6RN|QQHQ6LH
VLFKVSlWHUQRFKHLQPDO(LQ]HOKHLWHQGHV*HVSUlFKVDQK|UHQ

'U FNHQ6LHZlKUHQGHLQHV*HVSUlFKVGLH7DVWH 'DV'LVSOD\]HLJW
0,76&+1(,'(1XQG,KU$QUXIEHDQWZRUWHUQLPPWQXQGDV*HVSUlFKDXI
8PGLH$XI]HLFKQXQJ]XEHHQGHQGU FNHQ6LHHUQHXWGLH7DVWH 

'DVDXIJH]HLFKQHWH*HVSUlFKNDQQGDQQPLWGHU7DVWH DEJHVSLHOWZHUGHQ

+LQZHLV%HILQGHQ6LHVLFKJHUDGHLQGHU$QUXIHUOLVWHRGHUZLUGQRFKHLQH)XQNWLRQ
GHV$QUXIEHDQWZRUWHUVGXUFKJHI KUWGU FNHQ6LH]XHUVWGLH7DVWH XQGEHJLQQHQ
6LHGDQQPLWGHU$XI]HLFKQXQJ

$QUXIHUOLVWH& ,3


$QUXIHUOLVWH&/,3
0LWGHU5XIQXPPHUQDQ]HLJHN|QQHQ6LHEHLHLQJHKHQGHQ*HVSUlFKHQHUNHQQHQZHU
6LHDQUXIW:HQQGLHVH)XQNWLRQDQ,KUHU7HOHIRQOHLWXQJ]XU9HUI JXQJVWHKW]HLJW
,KQHQGDV'LVSOD\EHUHLWVZlKUHQGGHV.OLQJHOQVGLH5XIQXPPHULP'LVSOD\DQ

(UVFKHLQWLP'LVSOD\GLH0HOGXQJ.(,1(1800(5ZXUGHGLH5XIQXPPHUQXU
WHLOZHLVHRGHUIHKOHUKDIWHPSIDQJHQ

(UVFKHLQWLP'LVSOD\GLH0HOGXQJ1,&+79(5)h*%$5LVWGLH,QIRUPDWLRQGHU
5XIQXPPHUQLFKWYHUI JEDU(VN|QQWHVLFKXPHLQLQWHUQDWLRQDOHV*HVSUlFKKDQGHOQ

(UVFKHLQWLP'LVSOD\GLH0HOGXQJ35,9$7KDWGHU$QUXIHUGDV6HQGHQVHLQHU
5XIQXPPHUXQWHUGU FNWRGHUGLH1XPPHUNRQQWHQLFKW EHUPLWWHOWZHUGHQ

$XHUGHPZHUGHQZlKUHQG,KUHU$EZHVHQKHLWDOOH$QUXIHLQGHU$QUXIHUOLVWHPLW
'DWXPXQG8KU]HLWJHVSHLFKHUW%LV]X5XIQXPPHUQZHUGHQLQGHU$QUXIHUOLVWH
JHVSHLFKHUW6REDOGGLH/LVWHYROOLVWZLUGLPPHUGLHlOWHVWH5XIQXPPHUDXVGHU/LVWH
JHO|VFKW

$158)(1(8


:XUGHQZlKUHQG,KUHU$EZHVHQKHLW$QUXIHUHJLVWULHUW]HLJWGDV'LVSOD\GLH$Q]DKO
GHUQHXJHVSHLFKHUWHQ5XIQXPPHUQ1(8;;DQXQGGLHRSWLVFKH$Q]HLJHEOLQNW
:HLWHUKLQZLUGGLH*HVDPW]DKOGHULQGHU$QUXIHUOLVWHJHVSHLFKHUWHQ5XIQXPPHUQ
DQJH]HLJW$158)(;;

'DV'LVSOD\]HLJWQLFKWGLH$Q]DKOGHUDXIJHQRPPHQHQ1DFKULFKWHQDXIGHP
$QUXIEHDQWZRUWHU

:LH6LHGLH$QUXIHUOLVWHHLQVHKHQN|QQHQHUIDKUHQ6LHLPQlFKVWHQ.DSLWHO

$FKWXQJ'LH5XIQXPPHUQDQ]HLJHLVWHLQRSWLRQDOHU6HUYLFH, UHV
7HOHIRQSURYLGHUV, U7HOHIRQ]HLJWGLH5XIQXPPHUQLP'LVSOD\ZHQQ, U
7HOHIRQSURYLGHUGLHVHQ6HUYLFHDQELHWHW%LWWHIUDJHQ6LH, UHQ
7HOHIRQSURYLGHUIUZHLWHUH,QIRUPDWLRQHQ6WH WGLHVHU6HUYLFHQLF W]XU
9HUIJXQJZHUGHQHLQJH HQGH$QUXIHQLF WLP'LVSOD\DQJH]HLJW



$QUXIHUOLVWH& ,3


 $QUXIHUOLVWHHLQVHKHQ
0LWGHU7DVWH QHEHQGHP'LVSOD\VHKHQ6LHGLHQHXHVWHQ5XIQXPPHUQ+DEHQ6LH
GHQOHW]WHQ6SHLFKHUSODW]GHU/LVWHHUUHLFKW]HLJWGDV'LVSOD\GLH0HOGXQJÄ(QGHGHU
/LVWH³0LWGHQ7DVWHQ N|QQHQ6LHLQGHU$QUXIHUOLVWHEOlWWHUQ

CALL#
NEW
MEMO
2
4
3
5
1


,P'LVSOD\HUVFKHLQWXQWHU&$//GLH1XPPHU]ZLVFKHQXQGGHVJHUDGH
DQJHZlKOWHQ6SHLFKHUSODW]HV
8KU]HLWXQG'DWXPGHV$QUXIHV
(UVFKHLQWGLH0HOGXQJ1(:ZXUGHGHUDQJHZlKOWH$QUXIQRFKQLFKWNRQWUROOLHUW
5XIQXPPHUGHV$QUXIHUVIDOOVYHUI JEDU
$Q]HLJH35,9$7RGHU1,&+79(5)h*%$5ZHQQNHLQH5XIQXPPHUDQJH]HLJW
ZHUGHQNDQQ

:HUGHQDOOHQHXDXIJH]HLFKQHWHQ5XIQXPPHUQNRQWUROOLHUW]HLJWGLH$Q]HLJHÄ1(8³
LP'LVSOD\Ä³XQGGLHRSWLVFKH5XIDQ]HLJHHUOLVFKW

:LUGLQQHUKDOEYRQ6HNXQGHQNHLQH7DVWHJHGU FNWZLUGGLH$QUXIHUOLVWHYHUODVVHQ
XQGGDV'LVSOD\]HLJWZLHGHUGLHDNWXHOOH8KU]HLWXQGGDV'DWXPVRZLHGLH$Q]DKOGHU
LQGHU$QUXIHUOLVWHJHVSHLFKHUWHQ7HOHIRQQXPPHUQXQGGLH$Q]DKOGHUQHX
JHVSHLFKHUWHQ5XIQXPPHUQDQ












$QUXIHUOLVWH& ,3


 7HOHIRQQXPPHUDXVGHU$QUXIHUOLVWHGLUH WDQZlKOHQ
6LHN|QQHQ7HOHIRQQXPPHUQDXVGHU$QUXIHUOLVWHGLUHNWDQZlKOHQXQG EHUGDV
SDUDOOHODQJHVFKORVVHQH7HOHIRQWHOHIRQLHUHQ

:lKOHQ6LHPLWGHQ7DVWHQ QHEHQGHP'LVSOD\GLHJHZ QVFKWH
7HOHIRQQXPPHUDP$QUXIEHDQWZRUWHUDXV
+HEHQ6LHMHW]WGHQ7HOHIRQK|UHUGHVSDUDOOHOJHVFKDOWHWHQ7HOHIRQVDE
'U FNHQ6LHQXQGLH7DVWH 'LH5XIQXPPHUZLUGQXQGLUHNWJHZlKOW

+LQZHLV
9RUGHP:l OHQYHUJOHLF W, U7HOHIRQGLH/DQGHVXQG2UWVYRUZD OGHUJHZl OWHQ
5XIQXPPHUPLW, UHP6WDQGRUW/DQGHV2UWVYRUZD O+DEHQ6LHZl UHQGGHU
,QVWDOODWLRQ, UH/DQGHVXQG2UWVYRUZD OHLQJHJHEHQZHUGHQGLHHQWVSUHF HQGHQ
=D OHQQLF WPH UPLWJHZl OWZHQQHVVLF XPHLQH5XIQXPPHUDXV, UHP/DQGXQG
2UWVQHW] DQGHOW
 7HOHIRQQXPPHUDXVGHU$QUXIHUOLVWHO|VFKHQ
:lKOHQ6LHPLWGHQ7DVWHQ QHEHQGHP'LVSOD\GLH5XIQXPPHUDXVGHU
$QUXIHUOLVWHGLH6LHO|VFKHQP|FKWHQ
'U FNHQ6LHQXQHLQPDOGLH7DVWH 'DV'LVSOD\]HLJWÄ/2(6&+(1"³
+DOWHQ6LHQXQGLUHNWZLHGHUGLH7DVWH JHGU FNWELVLP'LVSOD\GLH0HOGXQJ
Ä*(/2(6&+7³HUVFKHLQW
 .RPSOHWWH$QUXIHUOLVWHO|VFKHQ
:lKOHQ6LHPLWGHQ7DVWHQ QHEHQGHP'LVSOD\HLQHEHOLHELJH5XIQXPPHU
DXVGHU$QUXIHUOLVWH
'U FNHQ6LHGLH7DVWH VRODQJHELVGLH'LVSOD\DQ]HLJHÄ$//(6/2(6&+(1"³
HUVFKHLQW
+DOWHQ6LHQXQGLUHNWZLHGHUGLH7DVWH JHGU FNWELVLP'LVSOD\GLH0HOGXQJ
Ä$//(*(/2(6&+7³HUVFKHLQW


)HUQDEIUDJH


)HUQD IUDJH
'HU%HUHFKWLJXQJVFRGH]XU)HUQD IUDJH
,KU$QUXIEHDQWZRUWHUEHVLW]WHLQHSHUV|QOLFKH=XJULIIVEHUHFKWLJXQJ5HPRWH&RGHVR
GDVVQXU6LHGLHHLQJHJDQJHQHQ1DFKULFKWHQSHU)HUQDEIUDJHDEK|UHQN|QQHQ'HU
%HUHFKWLJXQJVFRGHLVWHLQHGUHLVWHOOLJH=DKOXQGEHILQGHWVLFKDXIGHU8QWHUVHLWH
5HPRWH&RGH,KUHV*HUlWHV
'LHJH KUHQIUHLH9RU)HUQD IUDJH
0LWGHUJHE KUHQIUHLHQ9RU)HUQDEIUDJHN|QQHQ6LHIHVWVWHOOHQREVLFK1DFKULFKWHQ
DXI,KUHP$QUXIEHDQWZRUWHUEHILQGHQRKQHXQQ|WLJH*HE KUHQ]XYHUXUVDFKHQ

6WHOOHQ6LHGHQ6FKLHEHUHJOHULQGLH3RVLWLRQ76:HQQ6LHQXQYRQXQWHUZHJV,KU
*HUlWDQZlKOHQPHOGHWVLFKGHU$QUXIEHDQWZRUWHUZLHIROJW

$ :LUG,KU$QUXIQDFKPDO/lXWHQHQWJHJHQJHQRPPHQEHILQGHQVLFK
1DFKULFKWHQDXI,KUHP$QUXIEHDQWZRUWHUXQG6LHN|QQHQZLHXQWHU
EHVFKULHEHQIRUWIDKUHQ
% :XUGHQNHLQH1DFKULFKWHQDXIJH]HLFKQHWZLUG,KU$QUXIQLFKWQDFK]ZHL
.OLQJHO]HLFKHQHQWJHJHQJHQRPPHQ/HJHQ6LHGHQ7HOHIRQK|UHUGLUHNWQDFKGHP
GULWWHQ.OLQJHO]HLFKHQZLHGHUDXIGDVLFK,KU$QUXIEHDQWZRUWHUHUVWQDFKGHP
VHFKVWHQ.OLQJHO]HLFKHQQRUPDOHLQVFKDOWHW6RN|QQHQ6LH*HE KUHQVSDUHQ
0|JOLFKNHLWHQGHU)HUQD IUDJH
5XIHQ6LH,KUH7HOHIRQQXPPHUDQXQGZDUWHQ6LHELV,KU$QUXI
HQWJHJHQJHQRPPHQZLUG
1DFKGHPGHU$QUXIYRP$QUXIEHDQWZRUWHUHQWJHJHQJHQRPPHQZXUGHJHEHQ
6LH,KUHQSHUV|QOLFKHQ%HUHFKWLJXQJVFRGHHLQLQGHP6LHGLHHQWVSUHFKHQGH=DKO
DXIGHP=DKOHQIHOGHLQHV7HOHIRQVGU FNHQ

'LH(LQJDEHGHVULFKWLJHQ&RGHVZLUGPLW]ZHL6LJQDOW|QHQEHVWlWLJW:lKOHQ6LHQXQ
GXUFK'U FNHQGHUHQWVSUHFKHQGHQ7DVWHQNRPELQDWLRQHQHLQHGHUXQWHQDXIJHI KUWHQ
)XQNWLRQHQDXV'LH3DXVH]ZLVFKHQGHU(LQJDEHGHUHLQ]HOQHQ)XQNWLRQHQGHU
)HUQDEIUDJHGDUIGLH/lQJHYRQ6HNXQGHQQLFKW EHUVFKUHLWHQGDVRQVWGLH
9HUELQGXQJDXWRPDWLVFKXQWHUEURFKHQZLUG








)HUQDEIUDJH


1HXDXIJH]HLFKQHWH1DFKULFKWHQDEVSLHOHQ   'U FNHQ6LHnXQG
$OOHDXIJH]HLFKQHWHQ1DFKULFKWHQDEVSLHOHQ  'U FNHQ6LHoXQG
/DXIHQGH1DFKULFKWO|VFKHQ    'U FNHQ6LHpXQG
9RUKHULJH1DFKULFKWZLHGHUKROHQ    'U FNHQ6LHqXQG
6WRSS$EVSLHOHQEHHQGHQ'UFNHQ6LHrXQG
/DXIHQGH1DFKULFKW EHUVSULQJHQ    'U FNHQ6LHsXQG
$QUXIEHDQWZRUWHUHLQRGHUDXVVFKDOWHQ   'U FNHQ6LHtXQG
$QVDJHQHXDXIQHKPHQ 'UFNHQ6LHuXQG
%HHQGHQ6LHGLH$XIQDKPHPLWGHQ7DVWHQrXQG
0HPRDXIQHKPHQ 'UFNHQ6LHvXQG
%HHQGHQ6LHGLH$XIQDKPHPLWGHQ7DVWHQrXQG
5DXP EHUZDFKXQJ 'UFNHQ6LHmXQG
$QVDJH HU)HUQD IUDJHQHXDXIQHKPHQ
5XIHQ6LH,KUH7HOHIRQQXPPHUDQXQGZDUWHQ6LHELV,KU$QUXIHQWJHJHQJHQRPPHQ
ZLUG
1DFKGHPGHU$QUXIYRP$QUXIEHDQWZRUWHUHQWJHJHQJHQRPPHQZXUGHJHEHQ6LH
,KUHQSHUV|QOLFKHQ%HUHFKWLJXQJVFRGHHLQLQGHP6LHGLHHQWVSUHFKHQGH=DKODXI
GHP=DKOHQIHOGHLQHV7HOHIRQVGU FNHQ'LH(LQJDEHGHVULFKWLJHQ&RGHVZLUGPLW
HLQHP6LJQDOWRQEHVWlWLJW
8PGLH$QVDJHQHXDXI]XQHKPHQGU FNHQ6LHGLH7DVWHQNRPELQDWLRQuXQG
1DFKGHP6LJQDOWRQVSUHFKHQ6LH,KUHQHXH$QVDJH
%HHQGHQ6LHGLH$XIQDKPHPLWGHQ7DVWHQ'U FNHQ6LHrXQG'LHQHXH$QVDJH
ZLUGQXQDXWRPDWLVFKZLHGHUKROW
%HHQGHQ6LHGLH9HUELQGXQJLQGHP6LHGHQ7HOHIRQK|UHUDXIOHJHQ
)HUQ(LQVFKDOWHQ
6WHOOHQ6LHVLFKYRU6LHYHUODVVHQ,KU% URRGHU,KUH:RKQXQJXQGKDEHQYHUJHVVHQ
,KUHQ$QUXIEHDQWZRUWHUHLQ]XVFKDOWHQhEHUGLH)HUQDEIUDJHN|QQHQ6LHYRQHLQHP
DQGHUHQ7HOHIRQDXVGHQ$QUXIEHDQWZRUWHUHLQVFKDOWHQ
5XIHQ6LH,KUH1XPPHUDQXQGODVVHQ6LHHVVRODQJHOlXWHQELV,KU$QUXIYRQ,KUHP
$QUXIEHDQWZRUWHUHQWJHJHQJHQRPPHQZLUGFDPDO
1DFKGHP6LJQDOWRQJHEHQ6LH,KUHQSHUV|QOLFKHQ%HUHFKWLJXQJVFRGHHLQ'LH
(LQJDEHGHVULFKWLJHQ&RGHVZLUGPLWHLQHP6LJQDOWRQEHVWlWLJW
'U FNHQ6LHGLH7DVWHQtXQG,KU$QUXIEHDQWZRUWHUZLUGHLQJHVFKDOWHW
/HJHQ6LHQXQGHQ+|UHUZLHGHUDXIRGHUQXW]HQ6LHGLHZHLWHUHQ)XQNWLRQHQGHU
)HUQDEIUDJH