',*,7$/.
*$5$17,(%(',1*81*(1 'LH (PSIDQJVTXLWWXQJ JLOW DOV %HOHJ IU GHQ (UVWNDXI XQG VROOWH JXW DXIEHZDKUW ZHUGHQ 6LH ZLUG IU GLH ,QDQVSUXFKQDKPH YRQ *DUDQ WLHOHLVWXQJHQ EHQ|WLJW :LUG GDV 3URGXNW DQ HLQHQ DQGHUHQ %HQXW]HU ZHLWHUJHJHEHQ VR KDW GLHVHU IU GHQ 5HVW GHU *DUDQWLH]HLW $QVSUXFK DXI *DUDQWLHOHLVWXQJHQ 'HU .
+$)73)/,&+7%(6&+5b1.
,QKDOW *DUDQWLHEHGLQJXQJHQ LL +DIWSIOLFKWEHVFKUlQNXQJ LLL 9HUYLHOIlOWLJXQJ GLHVHV +DQGEXFKV LLL 6,&+(5+(,7 81' :$5781* 6LFKHUKHLWVKLQZHLVH %HWULHEVVLFKHUKHLW $XIVWHOOXQJVRUW
,1%(75,(%1$+0( %DWWHULHQ HLQOHJHQ .RQWUROOH GHV 6SDQQXQJV]XVWDQGHV .
.$0(5$(,167(//81*(1 .
6,&+(5+(,7 81' :$5781* 6,&+(5+(,76+,1:(,6( %LWWH OHVHQ 6LH GLHVHV .DSLWHO DXIPHUNVDP GXUFK XQG EHIROJHQ 6LH DOOH DXIJHIKUWHQ +LQZHLVH 6R JHZlKUOHLVWHQ 6LH HLQHQ ]XYHUOlVVLJHQ %HWULHE XQG HLQH ODQJH /HEHQVHUZDU WXQJ ,KUHU 'LJLWDO .DPHUD +DOWHQ 6LH GLHVH $QOHLWXQJ VWHWV JULIIEHUHLW LQ GHU 1lKH ,KUHU 'LJLWDO .DPHUD %HZDKUHQ 6LH GLH %HGLHQXQJVDQOHLWXQJ XQG GLH 9HUSDFNXQJ JXW DXI XP VLH EHL HLQHU 9HUlXHUXQJ GHU 'LJLWDO .
0*(%81*67(03(5$785 'LH 'LJLWDO .DPHUD NDQQ EHL HLQHU 8PJHEXQJVWHPSHUDWXU YRQ & ELV & XQG EHL HLQHU UHODWLYHQ /XIWIHXFKWLJNHLW YRQ QLFKW NRQGHQVLHUHQG EHWULHEHQ ZHUGHQ ,P DXVJHVFKDOWHWHQ =XVWDQG NDQQ GLH 'LJLWDO .DPHUD JHOD JHUW ZHUGHQ EHL & ELV & XQG EHL HLQHU UHODWLYHQ /XIWIHXFKWLJNHLW YRQ QLFKW NRQGHQVLHUHQG :DUWHQ 6LH QDFK HLQHP 7UDQVSRUW GHU 'LJLWDO .
5(3$5$785 %LWWH ZHQGHQ 6LH VLFK DQ XQVHU 6HUYLFH &HQWHU ZHQQ 6LH WHFKQLVFKH 3UREOHPH PLW ,KUHU 'LJLWDO .DPHUD KDEHQ 'LH 5HSDUDWXU LVW DXVVFKOLHOLFK XQVHUHQ DXWRULVLHUWHQ 6HUYLFHSDUWQHUQ YRUEHKDOWHQ :HQGHQ 6LH VLFK DQ ,KUHQ .XQGHQGLHQVW ZHQQ • )OVVLJNHLW LQV ,QQHUH GHU 'LJLWDO .DPHUD JHGUXQJHQ LVW • GLH .DPHUD QLFKW RUGQXQJVJHPl IXQNWLRQLHUW • GLH .DPHUD JHVWU]W RGHU GDV *HKlXVH EHVFKlGLJW LVW 5(,1,*81* • $FKWHQ 6LH GDUDXI GDVV GLH .
(,1)h+581*
(,1)h+581* +,1:(,6( =8 ',(6(5 $1/(,781* :LU KDEHQ GLHVH $QOHLWXQJ VR JHJOLHGHUW GDVV 6LH MHGHU]HLW EHU GDV ,QKDOWVYHU]HLFKQLV GLH EHQ|WLJWHQ ,QIRUPDWLRQHQ WKHPHQEH]RJHQ QDFKOHVHQ N|QQHQ (LQ 6WLFKZRUWYHU]HLFKQLV ,QGH[ ILQGHQ 6LH DP (QGH GLHVHV +DQGEXFKHV =LHO GLHVHU $QOHLWXQJ LVW HV ,KQHQ GLH %HGLHQXQJ ,KUHU 'LJLWDO .
1HKPHQ 6LH PLW XQV .RQWDNW DXI ZLU IUHXHQ XQV ,KQHQ KHOIHQ ]X GUIHQ 6LH ILQGHQ LQ GLHVHP +DQGEXFK HLQ JHVRQGHUWHV .DSLWHO ]XP 7KHPD .XQGHQGLHQVW EHJLQQHQG DXI 6HLWH 816(5( =,(/*5833( 'LHVH $QOHLWXQJ ULFKWHW VLFK DQ (UVWDQZHQGHU VRZLH DQ IRUWJHVFKULWWHQH %HQXW]HU 8QJHDFKWHW GHU P|JOLFKHQ SURIHVVLRQHOOHQ 1XW]XQJ LVW GLH 'LJLWDO .
6HSDUDW HUKlOWOLFKHV =XEHK|U $UWLNHOQXPPHU $UWLNHOEH]HLFKQXQJ 6SHLFKHUNDUWH 0' 0% Â =XU ,QVWDOODWLRQ GHU EHLOLHJHQGHQ 6RIWZDUH PVVHQ HYHQWXHOO 6HULHQQXPPHUQ HLQJHJHEHQ ZHUGHQ GLH DXI GHU &' E]Z DXI GHU +OOH JH GUXFNW VLQG %HZDKUHQ 6LH GLHVH JXW DXI Â 9RU GHU ,QVWDOODWLRQ VROOWHQ 6LH VLFK GLHVH 1XPPHUQ JJI DXIVFKUHLEHQ GD 6LH GLH &' VHOEVW MD EHL GHU ,QVWDOODWLRQ QLFKW ]XU +DQG KDEHQ 6<67(0$1)25'(581*(1 &RPSXWHU 3& $7
7(&+1,6&+( '$7(1 .DPHUD &&' 2EMHNWLY 9HUVFKOXVV %HOLFKWXQJV VWHXHUXQJ 0RQLWRU 6SHLFKHUDUW %LOGGDWHL 7\S ³ &&' PLW PLR 3L[HO ,62 [ =RRP REMHNWLY ) PP YHUJO [ PP EHL .
(QHUJLHTXHOOHQ %DWWHULHQ $$ 1,0+ $NNXV DOWHUQDWLYH $$ 1L&G RGHU $ONDOLQH %DWWHULHQ H[WHUQH 6WURPY $& 1HW]JHUlW %HWULHEVWHPSHUDWXU ELD & PD[LPDO /XIW IHXFKWLJNHLW QLFKW NRQGHQVLHUHQG $EPHVVXQJHQ XQG *HZLFKW $EPHVVXQJHQ % [ + [ 7 *HZLFKW [ [ PP &D J RKQH %DWWHULHQ XQG 6SHLFKHUNDUWH 7HFKQLVFKH bQGHUXQJHQ YRUEHKDOWHQ .203$7,%,/,7b76/,67( 0DUNH *U|H .
(,1)h+581*
$16,&+7 .
.$0(5$*(+b86( 5h&.6(,7( %OLW] $Q]HLJH 6FKlUIH ,QGLNDWRU (LQ $XVVFKDOWHU 6XFKHU 5LHPHQ|VH 0HQ 7DVWH (QWHU 7DVWH /&' 0RQLWRU 'LVSOD\ 7DVWH :HJH 6WHXHUWDVWH $16,&+7 .
.$0(5$*(+b86( 817(56(,7( %DWWHULHIDFK $EGHFNXQJ 6WDWLY %HIHVWLJXQJ $16&+/h66( 1HW]JHUlW $QVFKOXVV 9LGHR $XVJDQJ $16,&+7 86% $QVFKOXVV
'$7(1021,725 %OLW]IXQNWLRQV $Q]HLJH %LOGJU|HQ $Q]HLJH 6HOEVWDXVO|VHU $Q]HLJH %LOG]lKOHU %DWWHULH]XVWDQGV $Q]HLJH 68&+(5 6FKlUIH ,QGLNDWRU JUQ 3DUDOOD[HQ PDUNHQ %OLW] ,QGLNDWRU RUDQJH Â :HQQ 6LH HLQ 2EMHNW GXUFK GHQ 6XFKHU DXI QHKPHQ P|FKWHQ ZHOFKHV ZHQLJHU DOV P ZHLW HQWIHUQW LVW ZLUG QXU HLQ 7HLO GHU VLFK XQ WHUKDOE GHU 0DUNHQ EHILQGHW DXIJHQRPPHQ %HQXW]HQ 6LH GHQ /&' 0RQLWRU XP GLH /DJH ,KUHV 2EMHNWV ]X NRQ
,1%(75,(%1$+0( %$77(5,(1 (,1/(*(1 )U GHQ PRELOHQ (LQVDW] EHQ|WLJW GLH .DPHUD YLHU 9 0LJQRQ %DWWHULHQ 7\S $$ gIIQHQ 6LH GDV %DWWHULHIDFK LQ GHP 6LH GHQ 'HFNHO LQ GLH DQJH]HLJWH 5LFKWXQJ VFKLHEHQ c +HEHQ 6LH GLH .ODSSH d /HJHQ 6LH GLH %DWWHULHQ XQWHU %HDFKWXQJ GHU NRUUHNWHQ 3ROD ULWlW LQV )DFK HLQ 'DQQ VFKOLHHQ 6LH GDV )DFK ZLHGHU )U GHP SUDNWLVFKHQ *HEUDXFK HPSIHKOHQ ZLU GHQ (LQVDW] YRQ 1L0+ $NNXV PLW KRKHU .
 9HUEUDXFKWH %DWWHULHQ JHK|UHQ QLFKW LQ GHQ +DXVPOO %LWWH VFKW]HQ 6LH XQVHUH 8PZHOW XQG HQWVRUJHQ 6LH YHUEUDXFKWH %DWWHULHQ IDFK JHUHFKW :HQGHQ 6LH VLFK JJI DQ ,KUHQ +lQG OHU RGHU DQ XQVHUHQ .XQGHQGLHQVW ± 'DQNH .21752//( '(6 63$1181*6=867$1'(6 :HQQ VLFK %DWWHULHQ RGHU $NNXV LQ GHU .DPHUD EHILQGHQ NRQWUROOLHUW GLH .
.$0(5$ (,1 $866&+$/7(1 6FKLHEHQ 6LH GHQ (LQ $XVVFKDOWHU VLHKH 6 LQ GLH 3IHLO ULFKWXQJ XP GLH .DPHUD HLQ]XVFKDOWHQ :LUG GLH .DPHUD OlQJHU DOV 6HNXQGHQ QLFKW JHQXW]W VFKDOWHW GLHVH VLFK DX WRPDWLVFK DXV 8P GLH .DPHUD ZLHGHU LQ %HWULHE ]X QHKPHQ EHWlWLJHQ 6LH HUQHXW GHQ (LQ $XVVFKDOWHU 63(,&+(5.$57( (,1/(*(1 +(5$861(+0(1 Â 6FKDOWHQ 6LH GLH .DPHUD YRU GHP (LQVHW]HQ RGHU :HFKVHOQ GHU 6SHLFKHUNDUWH DXV 'LH 'D WHQ DXI GHU .DUWH JHKHQ YHUORUHQ RGHU GLH .
'UFNHQ 6LH QDFK GHP (LQVHW]HQ GHU .DUWH GLHVH JDQ] KLQHLQ VFKLHEW VLFK GHU 6LFKHUXQJVKHEHO KHUDXV XQG NDQQ XPJHNODSSW ZHUGHQ =XU (QWQDKPHQ GHU 6SHLFKHUNDUWH PXVV GHU 6LFKH UXQJVKHEHO YRUKHU DXIJHNODSSW ZHUGHQ 'LHVHU PXVV JHGUFNW ZHUGHQ XP GLH .DUWH DXV]XZHUIHQ 6FKOLHHQ 6LH QDFK GHP (LQOHJHQ RGHU GHU (QWQDKPHQ LPPHU GDV .
%,/'(5 $8)1(+0(1 'UHKHQ 6LH GDV (LQVWHOOUDG V 6 DXI GDV .DPHUD V\PERO XQG VFKDOWHQ 6LH GLH .DPHUD HLQ 3RVLWLRQLHUHQ 6LH VLFK XQG GLH .
',*,7$/ =220 'LH .DPHUD EHVLW]W HLQHQ 'LJLWDO =RRP )XQNWLRQ 0LW LKU NDQQ HLQ %LOG VFKHLQEDU JU|HU QlKHU DXIJHQRPPHQ ZHUGHQ DOV GLHV GXUFK GLH PD[LPDOH 7HOHEUHQQZHLWH GHV =RRPREMHNWLYV P|JOLFK LVW Â 'HU 'LJLWDO =RRP IXQNWLRQLHUW QXU EHL HLQJH VFKDOWHWHP .
$Q]HLJH %HWULHEVDUW 'HU %OLW] LVW PLW GHU )XQNWLRQ ]XU 9HUPHLGXQJ GHV Ä5RWH $XJHQ (IIHNWV³ HLQJHVFKDOWHW 'HU %OLW] ZLUG PLW %HUFNVLFKWLJXQJ GHV YRU KDQGHQHQ /LFKWV DXVJHO|VW 'LH 5HLFKZHLWH GHV HLQJHEDXWHQ %OLW]JHUlWHV EHWUlJW FD ELV 0HWHU 'HU %OLW] OHXFKWHW GDEHL VRZRKO :HLWZLQNHO DOV DXFK 7HOHDXIQDKPHQ DXV 'HU %OLW] IXQNWLRQLHUW QLFKW ZHQQ GHU Ä6HULHQELOG RGHU 1DK DXIQDKPH 0RGXV³ JHZlKOW VLQG 6WDQGDUGPlLJ G K EHL MHGHP $XV (LQVFKD
817(56&+,('/,&+( $8)1$+0( %(75,(%6$57(1 6WDQGDUGPlLJ VWDUWHW GLH .DPHUD PLW GHU Ä(LQ]HOELOG³ %H WULHEVDUW =XVlW]OLFK JLEW HV GLH )XQNWLRQHQ Ä6HULHQELO GHU³ Ä0HKUIDFKELOGHU ³ XQG Ä6HOEVWDXVO|VHU³ 6(5,(1%,/'(5 'LH )XQNWLRQ Ä6HULHQELOGHU³ LVW LGHDO JHHLJQHW IU )RWRV YRQ %HZHJXQJVDEOlXIHQ 6SRUW 7DQ] $FWLRQ 6LH N|QQHQ GDEHL LP $EVWDQG YRQ ZHQLJHQ 6HNXQGHQ LQ GLFKWHU )ROJH %LOG QDFK %LOG DXIQHKPHQ 'LHVH %LOGVHULHQ VLQG OHGLJOLFK GXUFK GLH *U| H .
$8720$7,6&+( %(/,&+781*667(8(581* 'LH .DPHUD EHOLFKWHW 'LJLWDOELOGHU PLW ,62 YROODXWRPD WLVFK NRUUHNW 'LH YRQ GHU 3URJUDPP %HOLFKWXQJVDXWRPDWLN VHOEVWWlWLJ JH ZlKOWHQ %HOLFKWXQJV]HLWHQ XPIDVVHQ GHQ %HUHLFK YRQ ELV 6HNXQGH XQG GLH %OHQGHQ|IIQXQJHQ ) ) ) XQG ) :HLWZLQNHO VRZLH ) ) ) XQG ) 7HOH :LUG GHU $XVO|VHU KDOE JHGUFNW XQG LQ GLHVHU 6WHOOXQJ ELV ]XU $XIQDKPH IHVWJHKDOWHQ VSHLFKHUW GLH .
(,167(//(1 '(5 $8)/g681* 'LH .DPHUD EHVLW]W HLQHQ =ROO &&' %LOG $XIQDKPHVHQVRU PLW 0LOOLRQHQ 3L[HO [ EHL HLQHP %LOG 6HLWHQYHUKlOWQLV 'LH PD[LPDOH $XIO|VXQJ YRQ [ 3L[HO NDQQ DXI GLH %LOGGDWHQPHQJHQ [ XQG [ 3L[HO UHGX]LHUW ZHUGHQ 'LH YRP .DPHUD &&' %LOGVHQVRU HU]HXJWH %LOGGDWHQPHQJH NDQQ ZDKOZHLVH LQ GUHL XQWHUVFKLHGOLFKHQ .
$872 $8720$7,. $XWRPDWLVFKH (LQVWHOOXQJ 7$*(6/,&+7 (LQVWHOOXQJ DXI 6RQQHQOLFKW */h+/$03( (LQVWHOOXQJ DXI *OKODPSH /(8&+7672))/$03(1 (LQVWHOOXQJ DXI 1HRQODPSHQ /HXFKWVWRIIODPSHQ *581'(,167(//81*(1 )h5 $8)1$+0( 02'86 'LH .DPHUD ELHWHW GLH 0|JOLFKNHLW DOOH .DPHUD $XIQDKPHIXQNWLRQHQ DXI GLH 6WDQGDUG 9RUHLQVWHOOXQJ ]XUFN ]XVHW]HQ 5HVHW 'LHV VLQG GLH 9RUHLQVWHOOXQJVZHUWH GLH EHL HLQHP 5HVHW GHU .
%,/'(5 =(,*(1 'UHKHQ 6LH GDV (LQVWHOOUDG GHU .DPHUD DXI GDV :LHGHUJDEH 6\PERO 6FKDOWHQ 6LH GLH .
GHP :HJH 6WHXHUUDG ZLUG GLHVHU 5DKPHQ EHZHJW XQG HV N|QQHQ GDPLW HLQ]HOQH %LOGHU DXVJHZlKOW ZHUGHQ E]Z HV ZHUGHQ QDFK GHP %LOG GLH QlFKVWHQ %LOGHU YRQ GHU 6SHL FKHUNDUWH ]XU $Q]HLJH DXIJHEOlWWHUW (LQ 'UXFN DXI GLH (QWHU 7DVWH DXI GHU .DPHUD 5FNVHLWH ]HLJW GDV DXVJHZlKOWH %LOG DOV 9ROOELOG DQ 0LW GHP ]ZHLPDOLJHQ 'UXFN DXI GLH 'LVSOD\ 7DVWH NHKUHQ 6LH ]XU ,QGH[ $QVLFKW ]XUFN 9(5*5g(57( =220 %,/':,('(5*$%( 'LH .
%,/':,('(5*$%( $8) 79 81' 9,'(2%($0(5 (V LVW P|JOLFK VLFK GLH %LOGHU GHU .DPHUD DXI HLQHP )HUQVH KHU ]HLJHQ ]X ODVVHQ 'LH .DPHUD EHVLW]W HLQHQ 9LGHR $XVJDQJ DQ HLQ )HUQVHKHU EHU GDV PLWJHOLHIHUWH 9LGHRNDEHO DQJHVFKORVVHQ ZHUGHQ NDQQ %HLP 9LGHR $XVJDQJV 6LJQDO N|QQHQ 6LH ]ZLVFKHQ 176& XQG 3$/ ZlKOHQ Â $FKWXQJ .DPHUD XQG :LHGHUJDEHJHUlW VROOWHQ ZlKUHQG GHU 9HUNDEHOXQJ DXVJHVFKDOWHW VHLQ :HQQ GLH .
/g6&+(1 $//(5 %,/'(5 ,P Ä:LHGHUJDEH 0RGXV³ GUFNHQ 6LH GLH (QWHU 7DVWH XQG ZlKOHQ GLH )XQNWLRQ Ä%LOGHU O|VFKHQ³ DXV (LQ 'UXFN QDFK UHFKWV IKUW ]X HLQHP ZHLWHUHQ 8QWHUPHQ +LHU KDEHQ 6LH GLH 0|JOLFKNHLW PLW GHU )XQNWLRQ Ä$OOH O|VFKHQ³ DOOH %LOGHU GHU 6SHLFKHUNDUWH NRPSOHWW ]X O|VFKHQ %HVWlWLJHQ 6LH KLHU]X LP QDFKIROJHQGHQ 8QWHUPHQ GLH )UDJH Ä-D 1HLQ³ PLW Ä-D³ %,/'(5 '58&.(1 'LH .
/g6&+(1 921 9(5=(,&+1,66(1 0LW $XVQDKPH GHV JHVSHUUWHQ Ä:HUNVHLQVWHOOXQJHQ 9HU]HLFKQLV³ N|QQHQ DXI GHU 6SHLFKHUNDUWH YRUKDQGHQH 9HU ]HLFKQLVVH JHO|VFKW ZHUGHQ ,P Ä:LHGHUJDEH 0RGXV³ GUFNHQ 6LH GLH 0HQ 7DVWH XQG ZlKOHQ Ä%LOGHU /|VFKHQ³ DXV 0LW GHU :DKOP|JOLFKNHLW Ä9HU]HLFKQLV³ ZHUGHQ DOOH DXI GHU 6SHLFKHUNDUWH HQWKDOWHQH 9HU]HLFKQLVVH DQJH]HLJW XQG N|Q QHQ JHO|VFKW ZHUGHQ Â $FKWXQJ 6LH O|VFKHQ GDPLW DXFK DOOH LQ GHQ 2UGQHUQ JHVSHLFKHUWHQ 'LJLWDOELOGHU ',63/$< +(/
$%6&+$/781* ,P 0HQ Ä$EVFKDOWXQJ³ ZLUG GLH =HLW IHVWJHOHJW QDFK GHU VLFK GLH .
*581'(,167(//81*(1 )h5 ',( %(75,(%6 02', Ä:,('(5*$%(³ Ä6(783³ 81' Ä3&³ 'LHV VLQG GLH 9RUHLQVWHOOXQJVZHUWH LQ GHQHQ GLH %HWULHEV 0RGL Ä:LHGHUJDEH³ Ä6HWXS³ XQG Ä3&³ ]XUFNJHVHW]W ZHUGHQ :LHGHUJDEH 0RGXV %LOGHU O|VFKHQ %LOG ZlKOHQ 'LDVKRZ 9HU]|JHUXQJ 6HN 5HLKHQIROJH YRUZlUWV 'UXFNHQ %LOG 9HU]HLFKQLV 0'1 /&' ± PLWWOHUH +HOOLJNHLW 6HWXS 0RGXV $EVFKDOWXQJ $XWRP $EVFKDOWXQJ 0LQ +LQZHLVWRQ $Q 3& 0RGXV hEHUWUDJXQJ ]XP 3& DQ
.$0(5$(,167(//81*(1 .85=h%(56,&+7 $8)1$+0(1 02'86 )XQNWLRQ Î (LQVWHOOXQJHQ Î (UZHLWHUWH (LQVWHOOXQJHQ %OLW] Î 0RGXV Î 6WlUNH )RFXV .
)XQNWLRQ Î (LQVWHOOXQJHQ Î (UZHLWHUWH (LQVWHOOXQJHQ /&' Î +HOOLJNHLW :HUNVHLQVWHOOXQJHQ Î -D Î 1HLQ :,('(5*$%( 02'86 )XQNWLRQ Î (LQVWHOOXQJHQ Î (UZHLWHUWH (LQVWHOOXQJHQ %LOGHU O|VFKHQ Î %LOG ZlKOHQ Î $OOH O|VFKHQ Î 9HU]HLFKQLV Î 0'1 =RRP 'LDVKRZ Î 6WDUW Î 5HLKHQIROJH Î 9HU]|JHUXQJ Î 9RUZlUWV Î 5FNZlUWV Î =XIDOO Î VHF Î VHF Î VHF Î VHF 'UXFNHQ Î %LOG Î ,QGH[
6(783 02'86 )XQNWLRQ Î (LQVWHOOXQJHQ &) )RUPDWLHUHQ Î 1HLQ Î -D $EVFKDOWXQJ Î Î Î Î Î 'DWXP 8KU]HLW Î 'DWXP Î 8KU]HLW +LQZHLVWRQ Î $Q Î $XV 9LGHR $XVJDQJ Î 3DO Î 176& 6SUDFKH Î 'HXWVFK Î (QJOLVFK PLQ PLQ PLQ PLQ PLQ :HUNVHLQVWHOOXQJ Î -D Î 1HLQ .$0(5$(,167(//81*(1 .
%,/'(5 ,1 '(1 3& h%(575$*(1
%,/'(5 ,1 '(1 3& h%(575$*(1 +LHU HUIDKUHQ 6LH ZLH 6LH ,KUH 'LJLWDO .DPHUD DQ GHQ 3& DQ VFKOLHHQ ,QVWDOOLHUHQ 6LH MHGRFK ]XQlFKVW GLH 6RIWZDUH 6FKOLHHQ 6LH GLH .
62 ,167$//,(5(1 6,( ,+5( 62)7:$5( 1DFKIROJHQG EHVFKUHLEHQ ZLU HLQH ÄW\SLVFKH³ ,QVWDOODWLRQ :HQQ 6LH GLH &' HLQOHJHQ ZLUG DXWRPDWLVFK GDV ,QVWDOODWL RQVPHQ JHVWDUWHW 6LQG 6LH VLFK GHU .
'(,167$//$7,21 '(5 62)7:$5( 8P GLH LQVWDOOLHUWH 6RIWZDUH YRQ ,KUHP 3& ]X HQWIHUQHQ EH IROJHQ 6LH ELWWH IROJHQGH 6FKULWWH .OLFNHQ 6LH DXI .
62 6&+/,(66(1 6,( ',( ',*,7$/ .$0(5$ $0 3& $1 Â +LQZHLV ,QVWDOOLHUHQ 6LH ]XHUVW GLH 7UHLEHU VRIWZDUH ZLH ]XYRU EHVFKULHEHQ IDOOV GLHV QRFK QLFKW JHVFKHKHQ LVW %HDFKWHQ 6LH GLH LQ +LQZHLVH LP .DSLWHO Ä6LFKHUKHLW XQG :DUWXQJ³ 6HLWHQ II 3RVLWLRQLHUHQ 6LH GHQ 5HFKQHU XQG GLH .
62)7:$5( 67$57(1 6LH N|QQHQ MHGHU]HLW GLH EHUHLWV DXIJHQRPPHQHQ %LOGHU DQ ,KUHQ 3& EHUWUDJHQ 'DEHL LVW HV QLFKW QRWZHQGLJ ]X ZDUWHQ ELV GHU 6SHLFKHU GHU .DPHUD YROO LVW Â gIIQHQ 6LH GDV 3URJUDPP QXU ZHQQ ,KUH .D PHUD DQJHVFKORVVHQ LVW .
%,/'(5 /$'(1 :HQQ 6LH DXI GLHVHV )HOG NOLFNHQ ZHUGHQ GLH %LOGHU DXV ,KUHU .
7,336 81' 75,&.6 +,1:(,6 =80 80*$1* 0,7 .$0(5$%$77(5,(1 81' $..
+,1:(,6 =80 *(%5$8&+ '(5 63(,&+(5.$57( ,Q IROJHQGHQ )lOOHQ EHVWHKW GLH *HIDKU HLQHV 'DWHQYHUOXVWHV RGHU HLQHU %HVFKlGLJXQJ • 8QVDFKJHPlHU *HEUDXFK GHU .DUWH • (OHNWURVWDWLVFKH (QWODGXQJHQ RGHU 6W|UIHOGHU LQ GHU 1lKH GHU .DUWH • (QWQDKPH GHU .DUWH RGHU 8QWHUEUHFKXQJ GHU 6WURP ]XIXKU ZlKUHQG GLH .DPHUD DXI GLH .DUWH ]XJUHLIW OH VHQ O|VFKHQ • 1LFKWJHEUDXFK GHU .DUWH EHU HLQHQ VHKU ODQJHQ =HLW UDXP 'LH DXI GHU &RPSDFW)ODVK .
3)/(*( '(6 /&' 021,7256 • 'HU /&' 0RQLWRU LVW HLQ KRFKSUl]LVHV %DXWHLO PLW HLQHU 3L[HO $XVIDOOUDWH YRQ ZHQLJHU DOV • 6HW]HQ 6LH GLH 2EHUIOlFKH GHV /&' 0RQLWRUV NHLQHP 'UXFN DXV GD GLHV HLQH GDXHUKDIWH %HVFKlGLJXQJ ]XU )ROJH KDEHQ NDQQ • %HL WLHIHQ 7HPSHUDWXUHQ NDQQ GHU /&' 0RQLWRU YRU EHUJHKHQG DEGXQNHOQ :LUG GLH .
.81'(1',(167
.81'(1',(167 (567( +,/)( %(, )(+/)81.7,21(1 /2.$/,6,(5(1 '(5 856$&+( )HKOIXQNWLRQHQ N|QQHQ PDQFKPDO EDQDOH 8UVDFKHQ KDEHQ ]XZHLOHQ DEHU DXFK YRQ UHFKW NRPSOH[HU 1DWXU VHLQ XQG HLQH DXIZHQGLJH $QDO\VH HUIRUGHUQ *581'6b7=/,&+( +,1:(,6( ¾ 'DV UHJHOPlLJH $XVIKUHQ GHU :LQGRZV 3URJUDPPH Ä'HIUDJPHQWLHUXQJ³ XQG Ä6FDQGLVN³ NDQQ )HKOHU TXHOOHQ EHVHLWLJHQ VRZLH GLH 6\VWHPOHLVWXQJ HUK|KHQ $16&+/h66( 81' .$%(/ h%(535h)(1 %HJLQQHQ 6LH PLW HLQHU VRUJIlOWLJHQ 6LFKWSUIXQJ DOOHU .
)(+/(5 81' 0g*/,&+( 856$&+(1 'LH 'LJLWDO .DPHUD ZLUG QLFKW HUNDQQW E]Z ZLUG QLFKW DQJH VSURFKHQ ¾ +DEHQ 6LH GDV .DEHO JHPl GHU ,QVWDOODWLRQVDQOHLWXQJ DQJHVFKORVVHQ" hEHUSUIHQ 6LH ELWWH DOOH .DEHOYHUELQ GXQJHQ ¾ +DEHQ 6LH GLH .DPHUD YRU GHU ,QVWDOODWLRQ GHV 7ZDLQ 7UHLEHUV DQJHVFKORVVHQ" =LHKHQ 6LH GHQ 86% 6WHFNHU DXV GHU 6FKQLWWVWHOOH KHUDXV XQG VFKOLHHQ 6LH GDV *H UlW HUVW QDFK GHU ,QVWDOODWLRQ DQ 7(&+1,6&+( 817(567h7=81* 'LH 'LJLWDO .
,1'(; % :HJH 6WHXHUWDVWH %DVLVHLQVWHOOXQJHQ %DWWHULHIDFK $EGHFNXQJ %DWWHULHQ HLQOHJHQ %DWWHULHQ HQWVRUJHQ %DWWHULH]XVWDQGV $Q]HLJH %HQXW]HUREHUIOlFKH GHV 7ZDLQ 7UHLEHUV %HWULHEVVLFKHUKHLW %HWULHEVV\VWHP %LOGHU DXIQHKPHQ %LOGHU GUXFNHQ %LOGHU ODGHQ %LOGHU O|VFKHQ %LOGHU EHUWUDJHQ
%LOGJU|HQ $Q]HLJH %LOG]lKOHU %OLW]IXQNWLRQV $Q]HLJH 6HOEVWDXVO|VHU $Q]HLJH 'DWHQVLFKHUXQJ 'DWXP 8KU]HLW 'HIUDJPHQWLHUXQJ 'HLQVWDOODWLRQ GHU 6RIWZDUH 'HU 8PJDQJ PLW 'LJLWDONDPHUDV 'LDVKRZ 'LJLWDO =RRP 'LVSOD\ +HOOLJNHLW 'LVSOD\ 7DVWH * *DUDQWLH LL *DUDQW
/ 5 /&' 0RQLWRU /LHIHUXPIDQJ /RNDOLVLHUHQ GHU 8UVDFKH /|VFKHQ /|VFKHQ DOOHU %LOGHU /|VFKHQ HLQ]HOQHU %LOGHU /|VFKHQ YRQ 9HU]HLFKQLVVHQ /XIWIHXFKWLJNHLW 5HFKQHUNRQILJXUDWLRQ 5HLQLJXQJ 5HLQLJXQJVPLWWHO 5HSDUDWXU 5LHPHQ|VH 5FNVHLWH :HJH 6WHXHUWDVWH
6RIWZDUH ,QVWDOODWLRQ 6RIWZDUH VWDUWHQ 6RIWZDUHLQVWDOODWLRQ 6SDQQXQJV]XVWDQG 6SHLFKHUNDUWH HLQOHJHQ KHUDXVQHKPHQ 6SUDFKH 6WDWLY %HIHVWLJXQJ 6W|UTXHOOHQ 6XFKHU %OLW] ,QGLNDWRU 3DUDOOD[HQPDUNHQ 6FKlUIH ,QGLNDWRU 6XFKHUIHQVWHU 6\VWHPDQIRUGHUXQJHQ 6\VWHPOHLVWXQJ
