Phocos PL20 User manual

3/3/3/
+LJK(QG6RODU&KDUJH&RQWUROOHU
+LJK(QG6RODU/DGHUHJOHU
8VHU*XLGH
%HGLHQXQJVDQOHLWXQJ
5HDGWKLVEHIRUHLQVWDOOLQJ
%LWWHGLHVH$QOHLWXQJYRUGHU,QEHWULHEQDKPHVRUJIlOWLJOHVHQ

(QJOLVK

&RQWHQW
,QVWDOODWLRQLQVWUXFWLRQV 
8VLQJWKH0HQXV 
&KRRVLQJ\RXUVHWWLQJV 
0RQLWRULQJ\RXUV\VWHP 
5HWULHYLQJKLVWRULFDOGDWD 
7KH%DWWHU\&KDUJLQJ3URFHVV
/RZ%DWWHU\'LVFRQQHFW2SWLRQ
/LJKW&RQWUROOHU2SWLRQ
2WKHU)HDWXUHV
2SWLRQDO$FFHVVRULHV
%$7 62/ %$7 /2$'
$K
%DWWHU\
3RVLWLYH
7HUPLQDO
6RODU
$UUD\
1HJDWLYH
7HUPLQDO
%DWWHU\
1HJDWLYH
7HUPLQDO
/RDG
1HJDWLYH
7HUPLQDO
6FUHZZLUHVLQWRWKHVHWHUPLQDOV 
WLJKWO\
/&'
'LVSOD\
%XWWRQ
VHH
´8VLQJWKH0HQXVµ
([SDQVLRQ6RFNHW
XQGHUWKHFRYHU
VHHUHIHUHQFHPDQXDO
IRULQVWUXFWLRQV
0RXQWLQJ
)ODQJH
PRXQW
YHUWLFDOO\
IRUEHVW
SHUIRUPDQFH
6FUHZKROHV
XVHWKHVH
IRUPRXQWLQJ
&RQQHFWLRQIRU
WHPSHUDWXUHVHQVRU
JHQHUDWRUDQGEDWWHU\
VHQVRUVXQGHUWKHFRYHU
(QJOLVK

,QVWDOODWLRQLQVWUXFWLRQV
0DNHVXUH\RXVHWXS\RXU3/
x9HUWLFDOO\ZKHUHDLUFDQFLUFXODWHDURXQGLW
x,QDGU\HQYLURQPHQWRXWRIGLUHFWVXQOLJKW
x$ZD\IURPIODPPDEOHJDVHVRUOLTXLGV
x$ZD\IURPVSLGHUVZDVSVRURWKHULQVHFWVZKLFKPLJKWPDNHQHVWVLQLW
:LUHVRQ3/DQG3/VKRXOGEHFRQQHFWHGWLJKWO\DVIROORZV
D&RQQHFWWKHIXVHRQWKHSRVLWLYHWHUPLQDORIWKHEDWWHU\WRWKH´%$7µWHUPLQDO
RQ\RXU3/6HHGLDJUDP
E&RQQHFWWKHSRVLWLYHWHUPLQDORIWKHVRODUSDQHOWRWKHIXVHRQWKHSRVLWLYH
WHUPLQDORIWKHEDWWHU\
F&RQQHFWWKHIXVHRQWKHQHJDWLYHWHUPLQDORIWKHEDWWHU\WRWKH´%$7µWHUPLQDORI
WKH3/7KHGLVSOD\SDQHORIWKH3/VKRXOGWKHQVWDUWXS
G&RQQHFWWKHQHJDWLYHWHUPLQDORIWKHVRODUSDQHOWRWKH´62/µWHUPLQDORIWKH3/
7KH3/KDVD/RZ%DWWHU\'LVFRQQHFWIHDWXUHZKLFKGLVFRQQHFWVHTXLSPHQWSRZHUHGE\
\RXUEDWWHU\NQRZQDVD´ORDGµLIWKHYROWDJHJHWVWRRORZ7RXVHWKLVIHDWXUH
H&RQQHFWWKHIXVHDWWKHSRVLWLYHWHUPLQDORI\RXUEDWWHU\WRWKHSRVLWLYHWHUPLQDORI
\RXUORDG
I&RQQHFWWKHQHJDWLYHWHUPLQDORI\RXUORDGWRWKH´/2$'µWHUPLQDORI\RXU3/

(QJOLVK

7KH*WHUPLQDOLVLPSOHPHQWHGDVDVROLGVWDWHUHOD\YROWDJHIUHHFRQWDFWV7KHWHUPLQDOV
DUH'&LVRODWHGDQGUDWHG$9/LGVLGHVFUHZVDUHIRUWUDQVSRUWRQO\ 5HPRYHIRU
XVH
:$51,1*
7KHORDGPXVWGUDZOHVVWKDQ$3/$3/DQG$3/1HYHUFRQQHFW
LQYHUWHURUEDWWHU\WR´/2$'µWHUPLQDO6RPHHTXLSPHQWFDQGDPDJHWKH3/ZKHQLW
VZLWFKHVRII7RSUHYHQWWKLVFRQQHFWWKHGLRGHVXSSOLHGEHWZHHQEDWWHU\DQG/2$'
DVVKRZQLQWKHZLULQJGLDJUDP
6RPH6WDQGDUGVUHFRPPHQGWKDW\RXFRQQHFWDQDSSURSULDWHIXVHWRHDFKWHUPLQDORIWKH
EDWWHU\)XVHVDUHQRWVXSSOLHGZLWKWKH3/
(QJOLVK

62/$5
%$762/%$7 /2$'
$K
/2$'
)XVH
)XVH
6XSSOLHG
GLRGH
VWULSHWR
EDW
%$77(5<



:DUQLQJ1HYHU
FRQQHFWLQYHUWHU
RUEDWWHU\
WR´/2$'µ
WHUPLQDO

8VLQJWKH0HQXV
<RXFDQPRYHDURXQGWKHPHQXV\VWHPDQGFKDQJHVHWWLQJVXVLQJWKHEXWWRQRQWKHIURQW
RIWKH3/
7KHUHDUHVHYHQWRSOHYHOPHQXLWHPVLQWKH3/·VPHQXV\VWHP%$79&+5*/2$'HWF
VHHGLDJUDPRSSRVLWH(DFKPHQXLWHPSURYLGHVDFFHVVWRDVXEPHQXDQGVRPHRIWKHVH
VXEPHQXVOHDGDJDLQWRIXUWKHUVXEPHQXV
$VKRUWSXVKWHOOVWKH3/WRDGYDQFHWRWKHQH[WPHQXRUVHWWLQJ7RGRDVKRUWSXVKSUHVV
RQWKHEXWWRQRQWKHIURQWRIWKH3/DQGUHOHDVHLWLPPHGLDWHO\
$ORQJSXVK´VHOHFWVµPRYLQJLQWRDVXEPHQXRUDOORZLQJ\RXWRFKDQJHVHWWLQJV7RGRD
ORQJSXVKSUHVVWKHEXWWRQKROGLQJLWGRZQXQWLOWKHPHQXFKDQJHVDERXWRQHVHFRQG

(QJOLVK

*HWWLQJEDFN
:KHUHYHU\RXDUHLQWKHPHQXV\VWHPDVHULHVRIVKRUWSXVKHVZLOOEULQJ\RXEDFNWRWKH
WRSOHYHOPHQXVZLWKRXWFKDQJLQJDQ\VHWWLQJV7KHUHDUHWZRH[FHSWLRQVZKHQDQXPEHULV
IODVKLQJ\RXDUHDOUHDG\FKDQJLQJDVHWWLQJDQGZKHQ\RXVHHWKHZRUG´(;,7µ\RX·UHLQ
´+LVWRU\µPRGH

7KLFNDUURZ ORQJSXVK
7KLQDUURZ VKRUWSXVK
6(7
7,0(
92/7
352*
%&$3
6HW
6HW
6HW
6HW
'$7$
90$;
90,1
)7,0
62&
7(03
62/9
+,67
+LVWRU\'DWD
287
,17
(;7
&OHDU
&OHDU
,1
,17
(;7
&OHDU
&OHDU
/2$'
/,17
/(;7
/RZ%DWWHU\'LVFRQQHFW
&+5*
&,17
&(;7
*HQHUDWRU&RQWURO
%$79
5HJXODWRU6WDWH

(QJOLVK

&KRRVLQJ\RXUVHWWLQJV
<RXPXVWIROORZWKHSURFHGXUHEHORZWRHQVXUHWKDW\RXU3/ZLOOUHJXODWHFRUUHFWO\
6HWWKH7LPH
D6KRUWSXVKXQWLOWKHGLVSOD\VKRZV´6(7µ
E/RQJSXVKRQFHDQGWKHGLVSOD\ZLOOVKRZ´7,0(µ
F/RQJSXVKDJDLQDQGWKHWLPHZLOOVWDUWIODVKLQJ1RWHWKDWWKHWLPHLVGLVSOD\HGLQ
KRXUVDQGWHQWKVRIKRXUV)RUH[DPSOH´µPHDQVDPDQG´µPHDQV
SP
G6KRUWSXVKXQWLOWKHWLPHVKRZQLVFRUUHFW,I\RXUHDFKLWZLOOF\FOHEDFNWR
PLGQLJKW
H:KHQWKHWLPHVKRZQLVFRUUHFWORQJSXVKWRVHWLW
6HWWKH6\VWHP9ROWDJH
D$IWHUVHWWLQJWKHWLPHVKRUWSXVKWRPRYHIURP´7,0(µWR´92/7µ/RQJSXVKDQG
WKHYROWDJHZLOOVWDUWIODVKLQJ
E6KRUWSXVKXQWLOWKHYROWDJHLVFRUUHFWIRU\RXUEDWWHU\,I\RXUHDFK9LWZLOOF\FOH
EDFNWR9
F:KHQWKHEDWWHU\YROWDJHLVFRUUHFWORQJSXVKWRVHWLW
6HW\RXUSURJUDP
7KH3/FRPHVZLWKDQXPEHURISUHVHWSURJUDPVWRPDNHFRQILJXUDWLRQHDV\IRUPRVW
LQVWDOODWLRQV
D$IWHUVHWWLQJWKHEDWWHU\YROWDJHVKRUWSXVKWRPRYHIURP´92/7µWR´352*µ
E/RQJSXVKRQFHDQGWKHSURJUDPQXPEHUZLOOVWDUWIODVKLQJ
F6KRUWSXVKWRVHW\RXUSURJUDP
352*/LTXLG(OHFWURO\WH%DWWHULHVZLWK/RZ%DWWHU\'LVFRQQHFWRSWLRQ
352**HOEDWWHULHVZLWK/RZ%DWWHU\'LVFRQQHFWRSWLRQ

(QJOLVK

352*/LTXLG(OHFWURO\WHEDWWHULHVZLWK/LJKW&RQWUROOHURSWLRQ
352**HOEDWWHULHVZLWK/LJKW&RQWUROOHURSWLRQ
352*&XVWRPLVHGVHWXS&KRRVLQJWKLVSURJUDPZLOOUHTXLUH\RXWRVHWDQXPEHURI
DGGLWLRQDOSDUDPHWHUV
G:KHQWKHSURJUDPVKRZQLVFRUUHFWORQJSXVKWRVHWLW
:$5,1,1*
:URQJVHWWLQJVLQ3URJUDPFDQGDPDJHEDWWHU\RUORDGV&KRRVHSURJUDPRQO\LI\RX
DUHIDPLOLDUZLWKEDWWHU\VSHFLILFDWLRQV
6HWWKH%DWWHU\&DSDFLW\
D6KRUWSXVKWRPRYHIURP´352*µWR´%&$3µ
E/RQJSXVKRQFHDQGWKHEDWWHU\FDSDFLW\ZLOOVWDUWIODVKLQJ
F6KRUWSXVKWRFKRRVHWKHFRUUHFWEDWWHU\FDSDFLW\IRU\RXUV\VWHPLQ$PSHUHKRXUV
$K/DUJHVHWWLQJVGLVSOD\LQWKRXVDQGVHJ$KVKRZVDV´µ,I\RXDUH
XQVXUHFKHFN\RXUEDWWHU\PDQXDORUFRQVXOW\RXUEDWWHU\VXSSOLHU
G/RQJSXVKWRNHHSWKHFKRVHQYDOXH
0RQLWRULQJ\RXUV\VWHP
7KH3/·VDGYDQFHGPRQLWRULQJIXQFWLRQVSURYLGH\RXZLWKXQSDUDOOHOOHGLQIRUPDWLRQDERXW
\RXUV\VWHP+HUHDUHVRPHRIWKHTXHVWLRQV\RXU3/FDQDQVZHU
+RZIXOOLVWKHEDWWHU\"
7KHYROWDJHOHYHORI\RXUEDWWHU\LVDQDSSUR[LPDWHPHDVXUHRIKRZIXOOLWLVDQGLVVKRZQ
RQWKHWRSOHYHO´%$79µVFUHHQ$OWHUQDWLYHO\62&LQWKH'$7$VXEPHQXORQJSXVKRQ
'$7$WKHQWKUHHVKRUWSXVKHVXVHVWKHDPSKRXUGDWDWRSURYLGHDQHGXFDWHGJXHVVRI
WKHVWDWHRIFKDUJH:DUQLQJ62&ZLOOEHXVHOHVVLIWKH3/LVQRWPHDVXULQJDOOWKHFKDUJH
DQGGLVFKDUJHIURPWKHEDWWHU\)RUH[DPSOHLIDQLQYHUWHULVFRQQHFWHGGLUHFWO\WRWKH
EDWWHU\DQH[WHUQDOVKXQWLVQHHGHGVRWKDWWKH3/FDQLQFOXGHWKHLQYHUWHULQLWV
FDOFXODWLRQV
(QJOLVK

+RZPXFKHQHUJ\KDYH,FROOHFWHGWRGD\" 
7KHWRSOHYHO,1VFUHHQVKRZVKRZPDQ\$PSKRXUVKDYHEHHQFROOHFWHGWRGD\
+RZPXFKHQHUJ\KDYH,XVHGWRGD\"
7KHWRSOHYHO287VFUHHQVKRZVKRZPDQ\$PSKRXUVWKHORDGKDVXVHGWRGD\
:KDWYROWDJHGLGWKHEDWWHU\UHDFK"
90$;VKRZVWRGD\·VPD[LPXPYROWDJHVLQFHPLGQLJKW90,1VKRZVWRGD\·VPLQLPXP
YROWDJH%RWKDUHLQWKH'$7$VXEPHQX
:KDWWLPHGLGWKHEDWWHU\ILQLVKFKDUJLQJWRGD\"
7KH)7,0VFUHHQLQWKH'$7$VXEPHQXVKRZVWKHWLPHWKH
3/ILQLVKHGEXONFKDUJLQJDQGHQWHUHGWKH´IORDWµVWDWH
$UHFRPSRQHQWVZRUNLQJFRUUHFWO\"
$QRSWLRQDOWHPSHUDWXUHVHQVRUFDQEHFRQQHFWHGWR\RXU3/WRLPSURYHUHJXODWLRQ,IWKLV
VHQVRULVLQVWDOOHGWKHEDWWHU\WHPSHUDWXUHLVVKRZQRQWKH7(03VFUHHQLQWKH'$7$VXE
PHQX7RWHVW\RXUVRODUDUUD\62/9LQWKH'$7$PHQXVKRZVWKHRSHQFLUFXLWYROWDJH
WKHVRODUDUUD\LVJHQHUDWLQJ
5HWULHYLQJKLVWRULFDOGDWD
,QDGGLWLRQWRVWRULQJWRGD\·VSHUIRUPDQFHGDWDWKH3/NHHSVLQIRUPDWLRQDERXWWKHODVW
GD\VRIRSHUDWLRQ
+LVWRULFDOSHUIRUPDQFHLQIRUPDWLRQFDQEHDFFHVVHGIURPWKH'$7$VFUHHQVHHGLDJUDP
EHORZ$IWHUDORQJSXVKRQ'$7$VKRUWSXVKXQWLO\RXVHH+,67$ORQJSXVKRQ+,67
ZLOOSXW\RXLQ´KLVWRU\PRGHµZKHUH\RXFDQF\FOHWKURXJKHDFKGD\·VGDWD1RWHWKDWWKH
GD\QXPEHUVJREDFNZDUGVLH'$<PHDQV\HVWHUGD\DQG'$<LVGD\VDJR

(QJOLVK

62/9
)7,0
)7,0
)7,0
)7,0
+,67
62&
62&
62&
62&
1(;7
'$<
'$<
'$<
'$<
'$<
'$<
'$7$
'$7$
'$7$
1(;7
1(;7
1(;7
%$&.
%$&.
%$&.
%$&.
(;,7
(;,7
(;,7
(;,7
6(7
90$;
90,1
,1
,1
,1
,1
)7,0
287
287
287
287
62&
90$;
90$;
90$;
90$;
'$<
'$<
'$<







'$<
7(03
90,1
90,1
90,1
90,1
'$7$
287
,1
/2$'
&+5*
%$79
7KLFNDUURZ ORQJSXVK
7KLQDUURZ VKRUWSXVK

4XLFN6XPPDU\
,17KHDPRXQWRIHQHUJ\FROOHFWHGLQ$PSKRXUV
2877KHDPRXQWRIHQHUJ\XVHGLQ$PSKRXUV
90$;PD[LPXPEDWWHU\YROWDJHVLQFHPLGQLJKW
90,1PLQLPXPEDWWHU\YROWDJHVLQFHPLGQLJKW
)7,0WLPHRIGD\WKHUHJXODWRUHQWHUHGWKH)ORDWVWDWH
62&3HUFHQWDJHHVWLPDWHRIWKHVWDWHRIFKDUJHRIWKHEDWWHU\EDVHGRQWKHDPS
KRXUV$YHU\URXJKIXHOJDXJH
7(03WHPSHUDWXUHEHLQJVHQVHGE\WKHH[WHUQDOWHPSHUDWXUHVHQVRULIDWWDFKHG
62/9VRODUSDQHOYROWDJHRSHQFLUFXLW1%WKH3/VWRSVFKDUJLQJWKHEDWWHU\ZKLOH
GLVSOD\LQJWKLVVFUHHQ
+,67HQWU\SRLQWIRUKLVWRU\GDWD

(QJOLVK

$WPLGQLJKW,128790$;90,1)7,0DQG62&DUHVWRUHGLQWKHKLVWRU\GDWDDQG
UHVHW
90$;DQG90,1UHVSRQGYHU\VORZO\WRFKDQJHVLQEDWWHU\YROWDJH7KLVDOORZVWKHPWR
LJQRUHVKRUWWHUPYROWDJHIOXFWXDWLRQV
7KH%DWWHU\&KDUJLQJ3URFHVV
:KHQFKDUJLQJ\RXUEDWWHU\WKH3/PRYHVDXWRPDWLFDOO\WKURXJKWKHIROORZLQJFKDUJLQJ
VHTXHQFH
%RRVWSKDVH
,QWKLVSKDVHDOODYDLODEOHFKDUJHLVXVHGWRFKDUJHWKHEDWWHU\DVTXLFNO\DVSRVVLEOH:KHQ
WKHEDWWHU\LVFKDUJLQJLQWKH%RRVWSKDVHWKH´%RRVWµLQGLFDWRUDSSHDUVRQWKH3/·VVFUHHQ
$EVRUSWLRQSKDVH
7KHEDWWHU\LVQHDUO\IXOO7RDYRLGH[FHVVJDVVLQJWKHFKDUJHFXUUHQWLVQRZDGMXVWHGWR
NHHSWKHEDWWHU\YROWDJHFRQVWDQW
)ORDWSKDVH
7KHEDWWHU\LVIXOO\FKDUJHGVRWKH3/QRZPRQLWRUVWKHEDWWHU\DQGNHHSVLWIXOO,IWKH
EDWWHU\YROWDJHGURSVEHORZDSUHVHWSRLQWWKHEDWWHU\ZLOOPRYHEDFNWRWKH%RRVWSKDVH
DXWRPDWLFDOO\
(TXDOLVDWLRQSKDVH
7RLQFUHDVHEDWWHU\OLIHWKH3/ZLOORFFDVLRQDOO\PRYHLQWRDQDGGLWLRQDOSKDVHFDOOHGWKH
(TXDOLVDWLRQSKDVH7KLVSKDVHOHYHOVWKHFKDUJHEHWZHHQWKHGLIIHUHQWFHOOVLQVLGHWKHEDWWHU\
E\RYHUFKDUJLQJWKHEDWWHU\IRUDVKRUWSHULRG
7KH3/PRYHVWKURXJKWKHVHSKDVHVDXWRPDWLFDOO\EXWLWLVDOVRSRVVLEOHWRFKDQJHWKHSKDVH
PDQXDOO\$ORQJSXVKRQWKH%$79PHQXZLOOVKRZWKHFXUUHQWFKDUJLQJSKDVH6XEVHTXHQW
ORQJSXVKHVZLOOPRYHWKH3/LQWRWKHQH[WSKDVHLQWKHF\FOH
,QPRVWFDVHVWKHSUHVHWYDOXHVSURYLGHGE\FKRRVLQJ3URJUDPVRUZLOOEHHQVXUH
JRRGUHJXODWLRQZLWKRXWDFRPSOH[VHWXSSURFHVV

(QJOLVK

7KHUHJXODWLRQVHWWLQJVVKRZQLQWKHGLDJUDP%0$;(7,0HWFFDQDOOEHVHWLQGLYLGXDOO\LQ
3URJUDP7KLVPHDQVWKH3/FDQEHDGMXVWHGWRUHJXODWHZHOOHYHQLQXQXVXDOLQVWDOODWLRQV
6HHUHIHUHQFHPDQXDOIRUGHWDLOV

/RZ%DWWHU\'LVFRQQHFW2SWLRQ
/RZ%DWWHU\'LVFRQQHFWLVDIHDWXUHRIWKH3/ZKLFKKHOSVDYRLGEDWWHU\GDPDJHE\
SUHYHQWLQJWKHORDGIURPH[FHVVLYHO\GUDLQLQJWKHEDWWHU\<RXGRQRWKDYHWRXVHWKLV
IHDWXUHWKH3/ZLOOVWLOOUHJXODWHHIIHFWLYHO\ZLWKRXWLW
/RZ%DWWHU\'LVFRQQHFWZRUNVE\WXUQLQJWKHORDGRIIZKHQWKHYROWDJHIDOOVEHORZDSUHVHW
SRLQWIRUDSHULRGRIWLPH7KLVIHDWXUHLVGHVLJQHGQRWWRWULJJHULIWKHEDWWHU\YROWDJHGURSV
IRUMXVWDIHZPRPHQWVIRUH[DPSOHEHFDXVHDPRWRUKDVMXVWEHHQWXUQHGRQ
2QFHWKHEDWWHU\KDVUHFKDUJHGWRDVDIHOHYHOWKHORDGZLOODXWRPDWLFDOO\VZLWFKRQDJDLQ
7RXVH/RZ%DWWHU\'LVFRQQHFW\RXQHHGWRFRQQHFW\RXUORDGWRWKHUHJXODWRUDQG\RX
VKRXOGDOVRHQVXUHWKDW\RXKDYHFKRVHQDSURJUDPZKHUHWKH/RZ%DWWHU\'LVFRQQHFW
IHDWXUHLVDFWLYDWHG
:$51,1*
1HYHUFRQQHFWEDWWHULHVRULQYHUWHUVWRWKH/2$'WHUPLQDORIWKH3/7KH\ZLOOFDXVHKHDY\
FXUUHQWIORZZKLFKZLOOGDPDJHWKHUHJXODWRU
/LJKW&RQWUROOHU2SWLRQ
7KH/LJKW&RQWUROOHULVDQDGGLWLRQDORSWLRQDOIXQFWLRQRIWKH3/,WFDQEHXVHGWRVZLWFK
OLJKWVRQGXULQJGDUNQHVV
:KHQLWVWDUWVJHWWLQJGDUNDQGWKHYROWDJHIURPWKHVRODUDUUD\GURSVWKH/LJKW&RQWUROOHU
IXQFWLRQZLOOVZLWFKRQSRZHUWRWKH3/·V/2$'WHUPLQDO,I\RXKDYHFRQQHFWHGOLJKWVWR
WKH3/·V/2$'WHUPLQDOWKH3/ZLOOVZLWFKRQWKHOLJKWVDWGXVNDQGVZLWFKWKHPRIIDW
GDZQ
7RXVHWKH/LJKW&RQWUROOHURSWLRQFKRRVHD3/SURJUDPZKLFKHQDEOHVWKLVIXQFWLRQ<RX
VKRXOGWKHQZLUH\RXUOLJKWVWRWKH/2$'WHUPLQDO
(QJOLVK

127(
,IWKHEDWWHU\·VYROWDJHIDOOVEHORZDSUHVHWOHYHOWKH/RZ%DWWHU\'LVFRQQHFWIXQFWLRQZLOO
SURWHFWWKHEDWWHU\E\VZLWFKLQJRIIWKHOLJKWVHYHQLILWLVGDUN
2WKHU)HDWXUHV
7KH3/KDVDQXPEHURIIHDWXUHVZKLFKDUHQRWGHVFULEHGLQWKLV8VHU*XLGH7KHVHLQFOXGH
x)XOO\FXVWRPLVDEOHUHJXODWLRQVHWWLQJVYLD3URJUDP
x&RQWUROOLQJHTXLSPHQWVXFKDVVSULQNOHUVSXPSVOLJKWVHWF
x&RQWUROOLQJDEDFNXSJHQHUDWRU
x&KDUJLQJDVHFRQGEDWWHU\
x7ULJJHULQJDQDODUPZKHQWKHEDWWHU\LVORZ
x7HPSHUDWXUHFRPSHQVDWLRQ
x'LVDEOLQJWDPSHULQJYLDDORFNRXWVHWWLQJ
x5HFRQILJXULQJWKHXVHRIWKH3/·VWHUPLQDOV
x6KXQWUHJXODWLRQDQGSXOVHZLGWKPRGXODWLRQRSWLRQV
)RULQIRUPDWLRQRQKRZWRFXVWRPLVH\RXUUHJXODWLRQVHWXSDQGXVHWKHVHDGGLWLRQDO
IHDWXUHVFRQVXOWWKH5HIHUHQFH0DQXDO7KLVLVDYDLODEOHIURP\RXUGHDOHU
2SWLRQDO$FFHVVRULHV
7KHIROORZLQJRSWLRQDODFFHVVRULHVDUHDOVRDYDLODEOHIRUWKH3/
x%DWWHU\WHPSHUDWXUHVHQVRU
x3OXJLQVKXQWVZKLFKDOORZWKH3/WRLQFRUSRUDWHDQLQYHUWHURUEDFNXSJHQHUDWRULQLWV
FDOFXODWLRQVDQGWRPHDVXUHFXUUHQWVRIXSWR$
x,QWHUIDFHIRUUHPRWHFRQWUROYLDDFRPSXWHUDQGDPRGHP
)RUPRUHLQIRUPDWLRQDERXWWKHVHFRQVXOW\RXUGHDOHU

'HXWVFK

,QKDOW
,QVWDOODWLRQVKLQZHLVH
0HQIKUXQJ
6\VWHPDQSDVVXQJ
6RODUV\VWHPhEHUZDFKXQJ
$EUXIYRQ9HUJDQJHQKHLWVGDWHQ
'DV%DWWHULHODGH9HUIDKUHQ
7LHIHQWODGHVFKXW]
/LFKWDXWRPDWLN
:HLWHUH)XQNWLRQHQ
2SWLRQDOHV=XEHK|U
%$7 62/ %$7/2$'
$K
.OHPPHIU
3OXVSRO
%DWWHULH
.OHPPHIU
0LQXVSRO
6RODUPRGXO
.OHPPHIU
0LQXVSRO
%DWWHULH
.OHPPHIU
0LQXVSRO
9HUEUDXFKHU
%LWWH$QVFKOXVVNDEHOLQGHQ
.OHPPHQJXWIHVWVFKUDXEHQ
/&'
$Q]HLJH
7DVWH
VLHKH0HQIKUXQJ
(UZHLWHUXQJV6WHFNHU
8QWHUGHU$EGHFNXQJ
VLHKH5HIHUHQ]KDQGEXFK
0RQWDJH
)ODQVFK
%HIHVWLJXQJV
%RKUXQJHQ
$QVFKOVVHIU7HPSHUDWXUVHQVRU
*HQHUDWRUXQG%DWWHULH6HQVH/HLWXQJ
XQWHUGHU$EGHFNXQJ

'HXWVFK

,QVWDOODWLRQVKLQZHLVH
,KU3/5HJOHUPXVVDQHLQHP2UWPRQWLHUWZHUGHQDQGHPHU
xYHUWLNDOEHIHVWLJWLVWXQG/XIWGXUFKGLH.KOVFKOLW]HVWU|PHQNDQQ
xNHLQHU)HXFKWLJNHLWXQGNHLQHPGLUHNWHQ6RQQHQOLFKWDXVJHVHW]WLVW
xNHLQHQEUHQQEDUHQ*DVHQLQVEHVRQGHUH%DWWHULHJDVHQXQG)OVVLJNHLWHQDXVJHVHW]WLVW
$FKWHQ6LHDXIHLQHJXWH9HUELQGXQJ]ZLVFKHQ.DEHOXQG5HJOHU6FKUDXEHQJXWIHVW]LHKHQ
%HL/LW]HQ$GHUQ(QGKOVHQYHUZHQGHQ%HL3/XQG3/ZLHIROJWYHUIDKUHQ
D3OXVSROGHU%DWWHULHPLWGHU´%$7µ.OHPPH,KUHV3/5HJOHUVYHUELQGHQ
E3OXVSROGHVU6RODUSDQHHOHVPLWGHP3OXVSROGHU%DWWHULHYHUELQGHQ
F0LQXVSROGHU%DWWHULHPLWGHU´%$7µ.OHPPH,KUHV3/5HJOHUVYHUELQGHQ'HU
5HJOHUVROOWHQXQGLH%DWWHULHVSDQQXQJDQ]HLJHQ
G0LQXVSROGHU6RODUPRGXOHPLWGHU´62/µ.OHPPH,KUH3/5HJOHUVYHUELQGHQ
,KU3//DGHUHJOHUKDWHLQHQ9HUEUDXFKHU$QVFKOXVV]XP6FKXW]GHU%DWWHULHYRU
7LHIHQWODGXQJ9HUEUDXFKHUZHUGHQDEJHVFKDOWHWZHQQGLH%DWWHULHVSDQQXQJ]XQLHGULJLVW
=XP$QVFKOXVVYRQ9HUEUDXFKHUQJHKHQ6LHZLHIROJWYRU
H3OXVSROGHU%DWWHULHPLWGHP3OXVSROGHV9HUEUDXFKHUVYHUELQGHQ
I0LQXVSROGHV9HUEUDXFKHUVPLWGHU´/2$'µ.OHPPH,KUHV3/5HJOHUVYHUELQGHQ

'HU$QVFKOXVVEHUHLFKGHV3/KDWMHZHLOVXQG².OHPPHQ


'HXWVFK

'HU*$QVFKOXLVWDOVSRWHQ]LDOIUHLHVHOHNWURQLVFKHV5HODLVDXVJHIKUW$9'LH
6FKUDXEHQGHV*HKlXVHVGLHQHQQXUGHP7UDQVSRUWXQGPVVHQYRU*HEUDXFKHQWIHUQW
ZHUGHQ

:$5181*
'HU6WURPYHUEUDXFKGHV9HUEUDXFKHUVGDUI$3/$3/E]Z$3/QLFKW
EHUVFKUHLWHQ1LHPDOV:HFKVHOULFKWHURGHU%DWWHULHQDQGLHÅ/2$'´.OHPPH
DQVFKOLHHQ0DQFKH9HUEUDXFKHUN|QQHQGXUFK6SDQQXQJVVSLW]HQ,KUHQ3/5HJOHU
EHVFKlGLJHQZHQQVLHDEJHVFKDOWHWZHUGHQ8PGLHV]XYHUKLQGHUQVFKOLHHQ6LHGLH
PLWJHOLHIHUWH'LRGH]ZLVFKHQGHQ3OXVSROGHU%DWWHULHXQGGLH´/2$'µ.OHPPH,KUHV
3/5HJOHUVVLHKH6FKDOWELOG$XIGLHULFKWLJH3RODULWlWGHU'LRGHDFKWHQ0DUNLHUXQJGHU
'LRGHLQ5LFKWXQJ%DWWHULHDQVFKOLHHQ
(VLVWHPSIHKOHQVZHUWEHLGH3ROHGHU%DWWHULHEHU6LFKHUXQJHQPLWGHQ/HLWXQJHQ]X
YHUELQGHQ6LFKHUXQJHQVLQGQLFKWLP/LHIHUXPIDQJ

'HXWVFK

6RODUPRGXO
%$762/%$7 /2$'
$K
9HUEUDXFKHU
6LFKHUXQJ
6LFKHUXQJ
0LWJHOLHIHUWH'LRGH
0DUNLHUXQJ]XP
3OXVSROGHU%DWWHULH
%DWWHULH



:DUQXQJ
1LHPDOV
:HFKVHOULFKWHURGHU
%DWWHULHDQ´/2$'µ
.OHPPHDQVFKOLHHQ

0HQIKUXQJ
'LHHLQ]HOQHQ0HQSXQNWHN|QQHQGXUFK'UFNHQGHU7DVWHDQJHZlKOWZHUGHQ
'DV+DXSWPHQEHVWHKWDXVVLHEHQ3XQNWHQ%$79&+5*/2$'VLHKH
JHJHQEHUOLHJHQGHV'LDJUDPP-HGHU+DXSWPHQ3XQNWELHWHW=XJDQJ]XHLQHP
8QWHUPHQPDQFKH8QWHUPHQVKDEHQZHLWHUH8QWHUPHQV
(LQNXU]HU7DVWHQGUXFNYHUDQODVVWGHQ3/5HJOHUGHQQlFKVWHQ0HQSXQNWDQ]XZlKOHQ
(LQODQJHU7DVWHQGUXFNOlQJHUDOVHLQH6HNXQGHlQGHUWHLQH(LQVWHOOXQJRGHUIKUWLQHLQ
8QWHUPHQ

'HXWVFK

5FNNHKULQGDV+DXSWPHQ
:HQQ6LHVLFKLQHLQHPGHU0HQ]ZHLJHEHILQGHQN|QQHQ6LHLQV+DXSWPHQJHODQJHQLQ
GHP6LHPHKUPDOVKLQWHUHLQDQGHUHLQHQNXU]HQ7DVWHQGUXFNDXVEHQ(YHQWXHOOH
bQGHUXQJHQYRQ(LQVWHOOXQJHQZHUGHQGDQQQLFKWJHVSHLFKHUW
$861$+0(16LHEHILQGHQVLFKDXIHLQHPEOLQNHQGHQ:HUW6LHKDEHQEHUHLWV
(LQVWHOOXQJHQYHUlQGHUWRGHU6LHEHILQGHQVLFKDXIGHP:RUW(;,7LPÅ+,67´0HQ
'LFNHU3IHLO ODQJHU7DVWHQGUXFN
'QQHU3IHLO NXU]HU7DVWHQGUXFN
6(7
7,0(
92/7
352*
%&$3
6HW
6HW
6HW
6HW
'$7$
90$;
90,1
)7,0
62&
7(03
62/9
+,67
'DWHQVSHLFKHU
287
,17
(;7
&OHDU
&OHDU
,1
,17
(;7
&OHDU
&OHDU
/2$'
/,17
/(;7
7LHIHQWODGHVFKXW]
&+5*
&,17
&(;7
*HQHUDWRU6WHXHUXQJ
%$79
/DGH6WDWXV

'HXWVFK

6\VWHPDQSDVVXQJ
)ROJHQ6LHGHQXQWHQVWHKHQGHQ$QZHLVXQJHQXPHLQHNRUUHNWH)XQNWLRQVZHLVH,KUHV3/
5HJOHUV]XJHZlKUOHLVWHQ
(LQVWHOOHQGHU8KU]HLW
D0HKUPDOVNXU]HU7DVWHQGUXFNELVLQGHU$Q]HLJHÅ6(7´HUVFKHLQW
E/DQJHU7DVWHQGUXFNLQGHU$Q]HLJHHUVFKHLQWÅ7,0(´
F/DQJHU7DVWHQGUXFNLQGHU$Q]HLJHEOLQNWGLH8KU]HLW%HDFKWHQ6LH'LH$Q]HLJH
HUIROJWQLFKWLQ6WXQGHQXQG0LQXWHQVRQGHUQLQ6WXQGHQXQG6WXQGHQÅ´LQ
GHU$Q]HLJHEHGHXWHW0LQXWHQÅ´EHGHXWHW0LQXWHQ
G0HKUPDOVNXU]HU7DVWHQGUXFNELVGLHNRUUHNWH8KU]HLWDQJH]HLJWZLUG$XIÅ´IROJW
Å´0LWWHUQDFKW
H/DQJHU7DVWHQGUXFNXPGLH8KU]HLW]XVSHLFKHUQ
(LQVWHOOHQGHU%DWWHULH1HQQVSDQQXQJ
D.XU]HU7DVWHQGUXFN$Q]HLJHVSULQJWYRQÅ7,0(´DXIÅ92/7´
E/DQJHU7DVWHQGUXFNLQGHU$Q]HLJHEOLQNWGLH%DWWHULH1HQQVSDQQXQJ
F0HKUPDOVNXU]HU7DVWHQGUXFNELVGLHNRUUHNWH%DWWHULH1HQQVSDQQXQJDQJH]HLJWZLUG
$XIÅ9´IROJWÅ9´
G/DQJHU7DVWHQGUXFNXPGLH%DWWHULH1HQQVSDQQXQJ]XVSHLFKHUQ
3URJUDPPZDKO
,KU3/5HJOHUEHVLW]WPHKUHUHYRUGHILQLHUWH3URJUDPPHGLHIUGLHPHLVWHQ$QZHQGXQJHQ
DXVUHLFKHQGVLQG
D.XU]HU7DVWHQGUXFN$Q]HLJHVSULQJWYRQÅ92/7´DXIÅ352*´
E/DQJHU7DVWHQGUXFNLQGHU$Q]HLJHEOLQNWGLH3URJUDPPQXPPHU
F0HKUPDOVNXU]HU7DVWHQGUXFNELVGLHNRUUHNWH3URJUDPP1XPPHUDQJH]HLJWZLUG

'HXWVFK

352*)U%DWWHULHQPLWIOVVLJHP(OHNWURO\WJHVFKORVVHQH%DWWHULHQ
7LHIHQODGHVFKXW]/DVWNOHPPHDNWLY
352*)U%DWWHULHQPLWJHODUWLJHP(OHNWURO\WYHUVFKORVVHQH%DWWHULHQ
7LHIHQODGHVFKXW]/DVWNOHPPHDNWLY
352*)U%DWWHULHQPLWIOVVLJHP(OHNWURO\WJHVFKORVVHQH%DWWHULHQ/LFKWDXWRPDWLN
DNWLY
352*)U%DWWHULHQPLWJHODUWLJHP(OHNWURO\WYHUVFKORVVHQH%DWWHULHQ
/LFKWDXWRPDWLNDNWLY
352*EHQXW]HUGHILQLHUWHV3URJUDPP'LHVH$XVZDKOHUIRUGHUWHLQH5HLKHYRQ
]XVlW]OLFKHQ(LQVWHOOXQJHQ
G/DQJHU7DVWHQGUXFNXPGLH3URJUDPPQXPPHU]XVSHLFKHUQ
:$5181*
)DOVFKH(LQVWHOOXQJHQLP3URJUDPPN|QQHQ]XU=HUVW|UXQJYRQ%DWWHULHXQG9HUEUDXFKHUQ
IKUHQ:lKOHQ6LHGLHVH%HWULHEVDUWQXUZHQQ6LHPLWGHQ$QIRUGHUXQJHQ,KUHU%DWWHULH
YHUWUDXWVLQG
(LQVWHOOXQJGHU%DWWHULHNDSD]LWlW
D.XU]HU7DVWHQGUXFN$Q]HLJHVSULQJWYRQÅ352*´DXIÅ%&$3´
E/DQJHU7DVWHQGUXFNLQGHU$Q]HLJHEOLQNWGLH%DWWHULHNDSD]LWlW
F0HKUPDOVNXU]HU7DVWHQGUXFNELVGLHNRUUHNWH%DWWHULHNDSD]LWlWLQ$PSHUHVWXQGHQ
$KDQJH]HLJWZLUG%HDFKWHQ6LH:HUWHEHU$KZHUGHQLQ7DXVHQG
$PSHUHVWXQGHQPLWHLQHU1DFKNRPPDVWHOOHDQJH]HLJW+|FKVWHU(LQVWHOOXQJVZHUW
$K'HU$PSHUHVWXQGHQZHUW,KUHU%DWWHULHLVWEOLFKHUZHLVHDXIGHU%DWWHULH
DQJHJHEHQ,P=ZHLIHOVIDOONRQWDNWLHUHQ6LH,KUHQ+lQGOHU
G/DQJHU7DVWHQGUXFNXPGLH%DWWHULHNDSD]LWlW]XVSHLFKHUQ
'HXWVFK

6RODUV\VWHPhEHUZDFKXQJ
,KU3/5HJOHULVWPLWKHUDXVUDJHQGHQ)XQNWLRQHQ]XUhEHUZDFKXQJ,KUHV6RODU6\VWHPV
DXVJHVWDWWHW1DFKIROJHQGILQGHQ6LH)UDJHVWHOOXQJHQEHUGLH,KU3/5HJOHU,QIRUPDWLRQHQ
OLHIHUW
:HOFKHQ/DGH]XVWDQGKDWGLH%DWWHULH"
'LH%DWWHULHVSDQQXQJLVWHLQXQJHIlKUHU,QGLNDWRUIUGHQ/DGH]XVWDQG'LHVHZLUGLP
+DXSWPHQSXQNWÅ%$79´DQJH]HLJW
'DUEHUKLQDXVZLUGHU/DGH]XVWDQGLQÅ62&´LP8QWHUPHQÅ'$7$´ODQJHU
7DVWHQGUXFNLP0HQÅ'$7$´GDQQGUHLNXU]H7DVWHQGUFNHDQJH]HLJW'LHVH$Q]HLJH
EDVLHUWDXIGHU0HVVXQJGHU$PSHUHVWXQGHQ
+,1:(,6'LHVH$Q]HLJHLVWQXUNRUUHNWZHQQGHU3/5HJOHUDOOH6WU|PHYRQXQG]XU
%DWWHULHPHVVHQNDQQ:HQQEHLVSLHOVZHLVHHLQ:HFKVHOULFKWHUGLUHNWDQGHU%DWWHULH
DQJHVFKORVVHQLVWEHQ|WLJHQ6LHHLQHQRSWLRQDOHQH[WHUQHQ6KXQW]XU6WURPPHVVXQJ
:LHYLHO(QHUJLHZXUGHKHXWHLQGLH%DWWHULHJHODGHQ"
'HU+DXSWPHQSXQNWÅ,1´]HLJWGLHKHXWHHLQJHODGHQHQ$PSHUHVWXQGHQ
:LHYLHO(QHUJLHZXUGHKHXWHYHUEUDXFKW"
'HU+DXSWPHQSXQNWÅ287´]HLJWGLHKHXWHHQWQRPPHQHQ$PSHUHVWXQGHQ
:HOFKH6SDQQXQJKDWGLH%DWWHULHKHXWHHUUHLFKW"
,P8QWHUPHQÅ'$7$´ZHUGHQVRZRKOGLHPD[LPDOHÅ90$;´DOVDXFKGLHPLQLPDOH
Å90,1´%DWWHULHVSDQQXQJGHVKHXWLJHQ7DJHVVHLW0LWWHUQDFKWDQJH]HLJW
=XZHOFKHU=HLWZXUGHGLH%DWWHULHODGXQJDEJHVFKORVVHQ"
,P8QWHUPHQÅ'$7$´ZLUGXQWHUÅ)7,0´MHQH=HLWDQJH]HLJW]XGHUGLH%DWWHULHGHQ
(UKDOWXQJVODGH=XVWDQGHUUHLFKWKDW

'HXWVFK

$UEHLWHQGLH6\VWHPNRPSRQHQWHQULFKWLJ"
(LQRSWLRQDOHU7HPSHUDWXUVHQVRU]XU9HUEHVVHUXQJGHU/DGHFKDUDNWHULVWLNNDQQDQ,KUHQ3/
5HJOHUDQJHVFKORVVHQZHUGHQ:HQQGLHVHU6HQVRULQVWDOOLHUWLVWNDQQGLH7HPSHUDWXULP
8QWHUPHQÅ'$7$´XQWHUÅ7(03´DEJHUXIHQZHUGHQ
8PGLH6RODUPRGXOH]XWHVWHQNDQQLP8QWHUPHQÅ'$7$´XQWHUÅ62/9´GLH
/HHUODXIVSDQQXQJGHU0RGXOHJHPHVVHQZHUGHQ
$EUXIYRQ9HUJDQJHQKHLWVGDWHQ
=XVlW]OLFK]XGHQDNWXHOOHQ7DJHVGDWHQNDQQ,KU3/5HJOHU,QIRUPDWLRQHQEHUGLH
YHUJDQJHQHQ7DJHVSHLFKHUQ
8PGLHVHDE]XUXIHQZlKOHQ6LHGHQ+DXSWPHQSXQNWÅ'$7$´1DFKHLQHPODQJHQ
7DVWHQGUXFNXQGNXU]HQ7DVWHQGUFNHQJHODQJHQ6LH]XP3XQNWÅ+,67´0LWHLQHPODQJHQ
7DVWHQGUXFNJHODQJHQ6LHLQGHQ'DWHQORJJHU0RGXV'RUWN|QQHQ6LHGLH
9HUJDQJHQKHLWVGDWHQDEUXIHQ
+,1:(,6'LH$Q]HLJHGHU7DJHVQXPPHU]lKOWUFNZlUWVGKEHGHXWHWJHVWHUQ
EHGHXWHWYRU7DJHQ
62/9
)7,0
)7,0
)7,0
)7,0
+,67
62&
62&
62&
62&
1(;7
'$<
'$<
'$<
'$<
'$<
'$<
'$7$
'$7$
'$7$
1(;7
1(;7
1(;7
%$&.
%$&.
%$&.
%$&.
(;,7
(;,7
(;,7
(;,7
6(7
90$;
90,1
,1
,1
,1
,1
)7,0
287
287
287
287
62&
90$;
90$;
90$;
90$;
'$<
'$<
'$<







'$<
7(03
90,1
90,1
90,1
90,1
'$7$
287
,1
/2$'
&+5*
%$79
'LFNHU3IHLO ODQJHU7DVWHQGUXFN
'QQHU3IHLO NXU]HU7DVWHQGUXFN

'HXWVFK

hEHUEOLFNEHUGLH9HUJDQJHQKHLWVGDWHQ
,1(LQJHODGHQH$PSHUHVWXQGHQ
287(QWQRPPHQH$PSHUHVWXQGHQ
90$;0D[LPDOH%DWWHULHVSDQQXQJVHLW0LWWHUQDFKW
90,10LQLPDOH%DWWHULHVSDQQXQJVHLW0LWWHUQDFKW
)7,07DJHV]HLW]XGHUGLH%DWWHULHGHQ(UKDOWXQJVODGH]XVWDQGHUUHLFKWKDW
62&%DWWHULHODGH]XVWDQGEHUHFKQHWDXVGHQJHPHVVHQHQ$PSHUHVWXQGHQ
7(03$NWXHOOH7HPSHUDWXUGLHGXUFKHLQHQRSWLRQDOHQ7HPSHUDWXUVHQVRUJHPHVVHQ
ZLUG
62/9/HHUODXIVSDQQXQJGHU6RODUPRGXOH
+,1:(,6'HU3/5HJOHUXQWHUEULFKWGLH%DWWHULHODGXQJVRODQJH6LHVLFKLQ
GLHVHP0HQSXQNWEHILQGHQ
+,670HQSXQNW]XP$EUXIHQGHU9HUJDQJHQKHLWVGDWHQ

=X0LWWHUQDFKWZHUGHQ,128790$;90,1)7,0XQG62&GHVDNWXHOOHQ7DJHVLQGHQ
9HUJDQJHQKHLWVVSHLFKHUEHUQRPPHQXQG]XUFNJHVHW]W
90,1XQG90$;UHDJLHUHQQXUVHKUODQJVDPDXI9HUlQGHUXQJHQGHU%DWWHULHVSDQQXQJXP
NXU]IULVWLJH6SDQQXQJVVSUQJH]XHOLPLQLHUHQ
'DV%DWWHULHODGH9HUIDKUHQ
:lKUHQGGHU%DWWHULHODGXQJGXUFKOlXIW,KU3/5HJOHUDXWRPDWLVFKIROJHQGH/DGHVWXIHQ
+DXSWODGXQJ
,QGLHVHU3KDVHZLUGGHUJHVDPWHYHUIJEDUH/DGHVWURPHLQJHODGHQXPGLH%DWWHULHVR
VFKQHOODOVP|JOLFK]XODGHQ'LHVH3KDVHZLUGLQGHU$Q]HLJHGXUFKÅ%RRVW´DQJH]HLJW

'HXWVFK

1DFKODGXQJ
'LH%DWWHULHLVWEHLQDKHYROO8P*DVXQJGHU%DWWHULH]XYHUPHLGHQZLUGGLH
%DWWHULHVSDQQXQJNRQVWDQWJHKDOWHQ
(UKDOWXQJVODGXQJ
'LH%DWWHULHLVWYROOVWlQGLJJHODGHQGHU3/5HJOHUKlOWGLH%DWWHULHLQGLHVHP=XVWDQG6LQNW
GLH%DWWHULHVSDQQXQJXQWHUHLQHQYRUHLQJHVWHOOWHQ:HUWEHJLQQWGHU5HJOHUHUQHXWPLWGHU
+DXSWODGXQJ
$XVJOHLFKVODGXQJ
8PGLH%DWWHULHOHEHQVGDXHU]XHUK|KHQIKUW,KU3/5HJOHUYRQ=HLW]X=HLWHLQH
$XVJOHLFKVODGXQJGXUFK,QGLHVHU3KDVHZHUGHQGXUFKNRQWUROOLHUWHhEHUODGXQJ
8QWHUVFKLHGH]ZLVFKHQGHQHLQ]HOQHQ%DWWHULH]HOOHQDXVJHJOLFKHQ
'HU3/5HJOHUGXUFKOlXIWGLHEHVFKULHEHQHQ/DGHSKDVHQDXWRPDWLVFK(VLVWMHGRFKP|JOLFK
GLH/DGHSKDVHQDXFKKlQGLVFK]XEHUVSULQJHQ,P+DXSWPHQSXQNWÅ%$79´JHODQJHQ6LH
GXUFKHLQHQODQJHQ7DVWHQGUXFN]XU$Q]HLJHGHUDNWXHOOHQ/DGHSKDVH'XUFKZHLWHUHODQJH
7DVWHQGUFNHN|QQHQ6LHGLH/DGHSKDVHQZHLWHUVFKDOWHQ
,QGHQPHLVWHQ)lOOHQUHLFKHQGLHYRUHLQJHVWHOOWHQ3DUDPHWHUGHU3URJUDPPHRGHU
IUHLQHNRUUHNWH%DWWHULHODGXQJDXV
'LH(LQVWHOOXQJGHULP'LDJUDPPJH]HLJWHQ/DGHSDUDPHWHUN|QQHQLP3URJUDPP
LQGLYLGXHOOYHUlQGHUWZHUGHQ,KU3/5HJOHUNDQQDOVRDQEHVRQGHUH/DGHEHGLQJXQJHQ
DQJHSDVVWZHUGHQ6LHKH5HIHUHQ]KDQGEXFKIU'HWDLOV
7LHIHQWODGHVFKXW]
'HU3/5HJOHUEHVLW]WHLQHQHLQJHEDXWHQ7LHIHQWODGHVFKXW]GHUHLQH%HVFKlGLJXQJGHU
%DWWHULHGXUFKEHUPlLJHV(QWODGHQYHUKLQGHUW6LHPVVHQGLHVH)XQNWLRQQLFKW]ZLQJHQG
YHUZHQGHQGDGLH%DWWHULHODGXQJDXFKRKQHGLHVHV6FKXW]RUGQXQJVJHPlIXQNWLRQLHUW
'HU7LHIHQWODGHVFKXW]VFKDOWHWDQJHVFKORVVHQH9HUEUDXFKHUDEVREDOGGLH%DWWHULHVSDQQXQJ
HLQHQYRUHLQJHVWHOOWHQ:HUWXQWHUVFKUHLWHW.XU]H6SDQQXQJVHLQEUFKHGXUFK/DVWVSUQJH
]XP%HLVSLHO$QIDKUHQHLQHV0RWRUVO|VHQGHQ7LHIHQWODGHVFKXW]QLFKWDXV
'HXWVFK

6REDOGGLH%DWWHULHHLQHQDXVUHLFKHQGHQ/DGH]XVWDQGHUUHLFKWKDWVFKDOWHWGHU
7LHIHQWODGHVFKXW]DXWRPDWLVFKZLHGHUHLQ
8PGHQ7LHIHQWODGHVFKXW]]XYHUZHQGHQPVVHQ6LH,KUH9HUEUDXFKHUDQGHQ5HJOHU
DQVFKOLHHQ:HLWHUVPVVHQ6LHHLQ3URJUDPPJHZlKOWKDEHQGDVGHQ7LHIHQWODGHVFKXW]
DNWLYLHUW
:$5181*
1LHPDOV%DWWHULHQRGHU:HFKVHOULFKWHUDQGLHÅ/2$'²Å.OHPPH,KUHV3/5HJOHUV
DQVFKOLHHQ'HUKRKH6WURPIOXVV]HUVW|UWGHQ5HJOHU
/LFKWDXWRPDWLN
'LH/LFKWDXWRPDWLNLVWHLQHZHLWHUHQW]OLFKH)XQNWLRQ,KUHV3/5HJOHUV6LHNDQQGD]X
YHUZHQGHWZHUGHQ%HOHXFKWXQJLQGHU1DFKWDXWRPDWLVFKHLQ]XVFKDOWHQ
:HQQEHL'lPPHUXQJGLH6SDQQXQJGHU6RODUPRGXOHVLQNWVFKDOWHWGLH/LFKWDXWRPDWLNGLH
6SDQQXQJDQGHUÅ/2$'²Å.OHPPHHLQ6LQG/DPSHQDQGLHVHU.OHPPHDQJHVFKORVVHQ
JHKHQGLHVHDXWRPDWLVFKEHL'lPPHUXQJDQE]ZDPQlFKVWHQ0RUJHQDXV
8PGLHVH%HWULHEVDUW]XZlKOHQYHUZHQGHQ6LHHLQ3URJUDPPGDVGLHVH)XQNWLRQDNWLYLHUW
KDW6FKOLHHQ6LH/DPSHQDQGLHÅ/2$'Å.OHPPHDQ
+,1:(,6
$XFKLQGLHVHU%HWULHEVDUWLVWGHU7LHIHQWODGHVFKXW]DNWLY(LQ$EIDOOGHU%DWWHULHVSDQQXQJ
XQWHUGHQYRUGHILQLHUWHQ:HUWVFKDOWHWGLH/DPSHQDXFKEHL'XQNHOKHLWDXWRPDWLVFKDE
:HLWHUH)XQNWLRQHQ
,KU3/5HJOHUKDWHLQH5HLKHYRQ)XQNWLRQHQGLHQLFKWLQGLHVHU%HGLHQXQJVDQOHLWXQJ
EHVFKULHEHQVLQG
x)UHLGHILQLHUEDUHV/DGHSURJUDPP
x3URJUDPPLHUEDUH6WHXHUXQJIU%HZlVVHUXQJ3XPSHQ/DPSHQHWF
x3URJUDPPLHUEDUH6WHXHUXQJIU'LHVHOJHQHUDWRU

'HXWVFK

x/DGXQJHLQHU]ZHLWHQ%DWWHULH
x3URJDPPLHUEDUHU$ODUPEHLJHULQJHU%DWWHULHVSDQQXQJ
x7HPSHUDWXUJHIKUWHV/DGHQ
x$EVFKDOWXQJGHU1DFKODGHSKDVH
x8PNRQILJXUDWLRQGHU$QVFKOXVVNOHPPHQ
x6KXQW5HJHOXQJXQG3:02SWLRQHQ
,QIRUPDWLRQHQEHUGLHVH)XQNWLRQHQHQWQHKPHQ6LHELWWH5HIHUHQ]KDQGEXFK'LHVHV
HUKDOWHQ6LHEHL,KUHP+lQGOHU
2SWLRQDOHV=XEHK|U
)ROJHQGHV=XEHK|ULVWIU,KUHQ3/5HJOHUHUKlOWOLFK
x%DWWHULHWHPSHUDWXUVHQVRU
x([WHUQH6KXQWV]XU0HVVXQJYRQ6WU|PHQYRQ:HFKVHOULFKWHUQRGHU*HQHUDWRUHQELV
$
x6FKQLWWVWHOOH]XU)HUQEHUZDFKXQJPLWWHOV3&RGHU0RGHP
,QIRUPDWLRQHQEHUGLHVH2SWLRQHQHUKDOWHQ6LHEHL,KUHP+lQGOHU



















0DGHLQ$XVWUDOLD

3KRFRV$*²*HUPDQ\
ZZZSKRFRVFRP