0RQWDJHXQWHUGHU$UEHLWVSODWWH'DV,QGXNWLRQVNRFKIHOGNDQQ
QXUEHU6FKXEODGHQRGHU%DFN|IHQPLW*HEOlVHOIWXQJLQVWDOOLHUW
ZHUGHQ 8QWHU GHP .RFKIHOG N|QQHQ NHLQH .KOVFKUlQNH 6SOPD
VFKLQHQ %DFN|IHQ RKQH /IWXQJ RGHU :DVFKPDVFKLQHQ HLQJHEDXW
ZHUGHQ
$E]XJVHVVH'HU$EVWDQG]ZLVFKHQGHU$E]XJVHVVHXQGGHP
.RFKIHOGPXVVPLQGHVWHQVGHPLQGHU0RQWDJHDQOHLWXQJIUGLH
$E]XJVHVVHDQJHJHEHQHQ$EVWDQGHQWVSUHFKHQ
$UEHLWVSODWWH6LHPXVVHEHQKRUL]RQWDOXQGVWDELOVHLQ'LH
$QZHLVXQJHQGHV$UEHLWVSODWWHQ+HUVWHOOHUVEHDFKWHQ
:HQQGLH'LFNHGHU$UEHLWVSODWWHLQGLHGDV.RFKIHOGHLQJHEDXW
ZLUGQLFKWGHQ9RUJDEHQHQWVSULFKWGLH$UEHLWVSODWWHPLWIHXHU
XQGZDVVHUIHVWHP0DWHULDOYHUVWlUNHQELVGLHHPSIRKOHQH0LQ
GHVWGLFNHHUUHLFKWLVW$QGHUQIDOOVLVWNHLQHDXVUHLFKHQGH6WDELOLWlW
JHJHEHQ
■ 'LH$UEHLWVSODWWHLQGLHGDV.RFKIHOGHLQJHEDXWZLUGVROOWH
%HODVWXQJHQYRQFD NJVWDQGKDOWHQ
■ 'LH (EHQKHLW GHV .RFKIHOGV HUVW EHUSUIHQ ZHQQ HV HLQJHEDXW
LVW
*DUDQWLH(LQXQVDFKJHPlHU(LQEDX$QVFKOXVVRGHUHLQHIHK
OHUKDIWH0RQWDJHIKUHQ]XP9HUOXVWGHU*DUDQWLH
+LQZHLV -HJOLFKH $UEHLWHQ DP *HUlWHLQQHUHQ HLQVFKOLHOLFK GHP
$XVWDXVFKGHV1HW]NDEHOVPVVHQYRPHLJHQVGDIUDXVJHELOGH
WHQ.XQGHQGLHQVWYRUJHQRPPHQZHUGHQ
9RUEHUHLWXQJGHU0|EHO$EELOGXQJ
(LQEDXP|EHO6LHPVVHQELVPLQGHVWHQV &WHPSHUDWXUEH
VWlQGLJVHLQ
$XVVFKQLWW6SlQHQDFKGHQ$XVVFKQLWWDUEHLWHQHQWIHUQHQ
6FKQLWWIOlFKHQ0LWKLW]HEHVWlQGLJHP0DWHULDOYHUVLHJHOQ
(LQEDXEHUHLQHP6FKXEIDFK$EELOGXQJ D
$UEHLWVSODWWH6LHPXVVPLQGHVWHQV PPGLFNVHLQ
/IWXQJ'HU$EVWDQG]ZLVFKHQGHU2EHUIOlFKHGHU$UEHLWVSODWWH
XQGGHPREHUHQ%HUHLFKGHU6FKXEODGHPXVV PPEHWUDJHQ
+LQZHLV (LQHQ=ZLVFKHQERGHQDXV+RO]YHUZHQGHQZHQQVLFK
PHWDOOLVFKH*HJHQVWlQGHLQGHU6FKXEODGHDXIJUXQGGHU/XIWXP
ZlO]XQJEHLGHU%HOIWXQJGHV.RFKIHOGHVHUZlUPHQRGHUZHQQ
NOHLQH VSLW]H PHWDOOLVFKH *HJHQVWlQGH ZLH EHLVSLHOVZHLVH )OHLVFK
VSLHHLQGLHVHU6FKXEODGHDXIEHZDKUWZHUGHQ $EELOGXQJ
'DV.RFKIHOGLVWDQGHU8QWHUVHLWHPLWHLQHP9HQWLODWRUDXVJHVWDW
WHW2KQH=ZLVFKHQERGHQGUIHQLQGHU6FKXEODGHNHLQHNOHLQHQ
RGHU VSLW]HQ *HJHQVWlQGH 3DSLHU RGHU .FKHQWFKHU DXIEHZDKUW
ZHUGHQ(VN|QQWHGLH.KOXQJEHHLQWUlFKWLJWRGHUGDV*HEOlVH
GXUFK$QVDXJHQEHVFKlGLJWZHUGHQ=ZLVFKHQGHP,QKDOWGHU
6FKXEODGHXQGGHP*HEOlVH(LQJDQJPXVVHLQ0LQGHVWDEVWDQG
YRQ FPHLQJHKDOWHQZHUGHQ
0RQWDJHEHUHLQHP%DFNRIHQ$EELOGXQJE
$EODJH0XVVEHUHLQH0LQGHVWGLFNHYRQ PPYHUIJHQ
+LQZHLV 6FKODJHQ 6LH LQ GHU 0RQWDJHDQOHLWXQJ IU GHQ %DFNRIHQ
QDFKIDOOVGHU$EVWDQG]ZLVFKHQ.RFKIHOGXQG%DFNRIHQYHUJU|
HUWZHUGHQPXVV
%HOIWXQJ'HU$EVWDQG]ZLVFKHQ%DFNRIHQXQG.RFKIHOGPXVV
PLQGHVWHQVPPEHWUDJHQ
+LQZHLV :LUGGDV.RFKIHOGEHUHLQHP%DFNRIHQHLQHUDQGHUHQ
0DUNHHLQJHEDXWLVWHLQ=ZLVFKHQERGHQDXV+RO]]XYHUZHQGHQ
$EELOGXQJ
*HEOlVH$EELOGXQJ
8PHLQHNRUUHNWH)XQNWLRQVZHLVHGHV*HUlWV]XJDUDQWLHUHQ
PXVVGDV.RFKIHOGDQJHPHVVHQEHOIWHWZHUGHQ
'DGLH/IWXQJLPXQWHUHQ%HUHLFKGHV*HUlWVHLQHDXVUHLFKHQGH
)ULVFKOXIW]XIXKUEHQ|WLJWPVVHQGLH0|EHOHQWVSUHFKHQGDXVJH
OHJWVHLQ+LHU]XZLUG)ROJHQGHVEHQ|WLJW
■ HLQ 0LQGHVWDEVWDQG ]ZLVFKHQ GHU 5FNVHLWH GHV 0|EHOV XQG GHU
.FKHQZDQG XQG ]ZLVFKHQ GHU 2EHUIOlFKH GHU $UEHLWVSODWWH XQG
GHPREHUHQ%HUHLFKGHU6FKXEODGH $EELOGXQJ D
■ HLQHgIIQXQJREHQDQGHU5FNVHLWHGHV0|EHOV
$EELOGXQJ E
■ IDOOVGHU0LQGHVWDEVWDQGYRQ PPDQGHU5FNVHLWHGHV
0|EHOVQLFKWJHJHEHQLVWPXVVDQGHU8QWHUVHLWHHLQHgIIQXQJ
DQJHOHJWZHUGHQ $EELOGXQJ F
■ IDOOV GDV 0|EHO LQQHQ QLFKW EUHLWHU DOV PP LVW (LQVFKQLWWH DQ
GHQ6HLWHQZlQGHQYRUQHKPHQ $EELOGXQJ G
+LQZHLVH
■ :HQQGDV*HUlWLQHLQHU.RFKLQVHORGHUDQHLQHPDQGHUHQ
QLFKW EHVFKULHEHQHQ 3ODW] HLQJHEDXW ZLUG LVW HLQH DQJHPHVVHQH
%HOIWXQJGHV.RFKIHOGVVLFKHU]XVWHOOHQ
■ 'HQXQWHUHQ6RFNHOQLFKWKHUPHWLVFKDEVFKOLHHQ
*HUlWHLQEDXHQ$EELOGXQJHQ
+LQZHLV =XP(LQEDXHQGHV.RFKIHOGHV6FKXW]KDQGVFKXKHYHU
ZHQGHQ'LHQLFKWVLFKWEDUHQ)OlFKHQN|QQHQVFKDUIH.DQWHQDXI
ZHLVHQ
%HL*HUlWHQRKQHYRULQVWDOOLHUWHV.DEHOGDV1HW]NDEHOLQGLH
$QVFKOXVVGRVHHLQIKUHQ
'DV .RFKIHOG XPGUHKHQ XQG DXI GHP %RGHQ GHU 9HUSDFNXQJ HL
QHP 7XFK RGHU HLQHU DQGHUHQ 2EHUIOlFKH DEOHJHQ XP .UDW]HU ]X
YHUPHLGHQ
'HQ 'HFNHO GHU $QVFKOXVVGRVH PLWKLOIH HLQHV 6FKUDXEHQ]LHKHUV
DQKHEHQ $EELOGXQJ
'LH%HIHVWLJXQJVVFKUDXEHO|VHQXQGGLH6FKODXFKVFKHOOHPLWKLO
IHHLQHV6FKUDXEHQ]LHKHUVDQKHEHQ $EELOGXQJ
1XUJHPl$EELOGXQJDQGHU$QVFKOXVVGRVHDQVFKOLHHQ
$EELOGXQJ
%1%UDXQ
%8%ODX
*1<(*HOEXQG*UQ
%.6FKZDU]
*<*UDX
+LQZHLVH
■ :HQQ GHU $QVFKOXVV JHPl GHP $QVFKOXVVGLDJUDPP /1a
YRUJHQRPPHQZLUGLVWGLH$QRUGQXQJGHU%UFNHQGHP'LD
JUDPPHQWVSUHFKHQG]XlQGHUQ
■ 'DUDXIDFKWHQGDVVQDFKGHP$QVFKOXVVGHU.DEHOGLH
6FKUDXEHQDQGHU$QVFKOXVVGRVHIHVWJH]RJHQVLQG
'DV1HW]NDEHOPLWGHU6FKODXFKVFKHOOHEHIHVWLJHQXQGGLH%H
IHVWLJXQJVVFKUDXEHDQ]LHKHQ $EELOGXQJ D
'HQ'HFNHOGHU$QVFKOXVVGRVHVFKOLHHQ
+LQZHLV 'LH.DEHOLPPLWWOHUHQ%HUHLFKGHU$QVFKOXVVGRVHDQ
RUGQHQXPGHQ9HUVFKOXVV]XHUOHLFKWHUQ
:HQQ GDV 1HW]NDEHO PLW GHU 6FKXEODGH LQWHUIHULHUW GDV .DEHO PLW
GHP EHLJHIJWHQ .DEHOELQGHU DQ GHU 8QWHUVHLWH GHV .RFKIHOGHV
EHIHVWLJHQ $EELOGXQJ E
+LQZHLV )DOOVHLQHOlQJHUH1HW]DQVFKOXVVOHLWXQJEHQ|WLJWZLUG
ELWWHGHQ.XQGHQGLHQVWNRQWDNWLHUHQ$QVFKOXVVOHLWXQJHQVWHKHQ
ELV]X P]XU9HUIJXQJ
.RFKIHOGDXIVHW]HQ$EELOGXQJ
+DOWHVFKLHQHQDQEULQJHQ $EELOGXQJ
² :HQQ EHUHLWV +DOWHVFKLHQHQ DQJHEUDFKW VLQG GLHVH HQWIHUQHQ
XQGQHXHDQEULQJHQ
² %HLJHIOLHVWHQ$UEHLWVSODWWHQGLHXQWHUHQ*HZLQGHERKUXQJHQ
YHUZHQGHQ
² %HL$UEHLWVSODWWHQDXV6WHLQGLH6FKLHQHQDQNOHEHQGD]XKLW
]HEHVWlQGLJHQ]XP9HUNOHEHQYRQ0HWDOOXQG6WHLQJHHLJQH
WHQ.OHEVWRIIYHUZHQGHQ
'DV*HUlWLQGLH(LQEDXQLVFKHHLQVFKLHEHQ
'DUDXIDFKWHQGDVVGDV.RFKIHOGDXIGHUVHOEHQ+|KHZLHGLH
$UEHLWVSODWWH LVW )DOOV GDV .RFKIHOG QLFKW DXI GHUVHOEHQ +|KH LVW
EHL %HGDUI GLH PLWJHOLHIHUWHQ 9HUDQNHUXQJHQ LQVWDOOLHUHQ XQG YRU
VLFKWLJIHVW]LHKHQ $EELOGXQJ
+LQZHLV .HLQHHOHNWULVFKHQ6FKUDXEHQGUHKHUYHUZHQGHQ
■ 1HW]NDEHOQLFKWHLQNOHPPHQXQGQLFKWEHUVFKDUIH.DQWHQIK
UHQ%HLXQWHUJHEDXWHP%DFNRIHQGLH/HLWXQJDQGHQKLQWHUHQ
(FNHQGHV%DFNRIHQV]XU$QVFKOXVVGRVHIKUHQ'LH/HLWXQJ
PXVVVRLQVWDOOLHUWZHUGHQGDVVVLHNHLQHKHLHQ6WHOOHQGHV
.RFKIHOGVRGHUGHV%DFNRIHQVEHUKUW
■ %HLJHIOLHVWHQ$UEHLWVSODWWHQ)OLHVHQIXJHQPLW6LOLNRQNDXWVFKXN
DEGLFKWHQ
*HUlWDQVFKOLHHQ$EELOGXQJ
■ 6SDQQXQJ6LHKH7\SHQVFKLOG
■ 1XUJHPl$QVFKOXVVGLDJUDPPDQVFKOLHHQ
%1%UDXQ
%8%ODX
*1<(*HOEXQG*UQ
%.6FKZDU]
*<*UDX
■ -HQDFK$QVFKOXVVDUWPXVVHYHQWXHOOGLH$QRUGQXQJGHUYRP
:HUNJHOLHIHUWHQ.OHPPHQYHUlQGHUWZHUGHQ'DIUPVVHQ
HYHQWXHOOGLH.OHPPHQJHNU]WXQGGLH,VROLHUXQJHQWIHUQWZHU
GHQXPHLQH.OHPPHHLQ]XVHW]HQGLH]ZHL.DEHOYHUELQGHW
+LQZHLV hEHUSUIHQGHU%HWULHEVEHUHLWVFKDIW(UVFKHLQWLQGHU
$Q]HLJHGHV*HUlWHV
—…‹‹ “‹†‚„ RGHU “LVWHVQLFKWULFKWLJ
DQJHVFKORVVHQ'DV*HUlWYRQGHU6WURPYHUVRUJXQJWUHQQHQXQG
GHQ$QVFKOXVVGHV6WURPNDEHOVEHUSUIHQ