enm_bemol_0022-11_semana_1-bemol

Page 1

5(&83(5( 6(8 &5e',72 ( )$d$ 6(8 120( %5,/+$5 'HVFRQWRV H UHGXo}HV QRV MXURV SDUD UHQHJRFLDU 3DUFHODPHQWR HP DWp YH]HV H UHWLUDGD GR QRPH GR 63& 6(5$6$ 35202d®2 9É/,'$ $7e

$ 68$ 0(/+25 (6&2/+$

&RQVXOWH WRGDV DV FRQGLo}HV QR VLWH ZZZ EHPRO FRP EU RX QRV FUHGLiULRV GDV ORMDV (10 2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

$QWHQD ([WHUQD $TXiULR '79

5HFHSomR FDQDLV 9+) 8+) +'79 5HFHSomR )0 7LSR GH FDER FRD[LDO (QJORED FDQDLV GH D $ 9LVWD 5 [ [ 5 VHP MXURV 8VR LQWHUQR RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

$ 9LVWD 5 [ [ 5 VHP MXURV RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

(175$'$

86%

&2035$ 3527(*,'$

5

(175$'$ &$57®2 0(0Ð5,$

*DUDQWLD GR IDEULFDQWH DQR

WLD *DUDQ 75$

$12 5

&' 3OD\HU 3 $XWR 3KLOLSV &(0 ;

(;

$126 5

3DLQHO GHVWDFiYHO 5iGLR $0 )0 5HSURGXomR &' 03 3RWrQFLD GH VDtGD : [ FDQDLV &RQWUROH UHPRWR ,OXPLQDomR YHUPHOKR )XQomR EODFN RXW (TXDOL]DGRU &RU GR JDELQHWH SUHWR

(175$'$

86%

)RWRV PHUDPHQWH LOXVWUDWLYDV

:, ),

5

5(352'8= 0Ì',$ '

&DL[D $F~VWLFD )UDKP $PSOLILFDGD 86% )0

5(352'8= 03

'9' 3OD\HU 3 $XWR + %XVWHU $9

$ 9LVWD 5 [ [ 5 VHP MXURV RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

&2035$ 3527(*,'$

$SDUHOKR %OX 5D\ 3DQDVRQLF ' '03 %'7 /%

*DUDQWLD GR IDEULFDQWH DQR 5HJLmR =RRP GLJLWDO &RQWUROH UHPRWR 5HSURGX] '9' 5 '9' 5: 5HSURGX] &' &' 5 5: /LQKDV GH UHVROXomR

WLD *DUDQ 75$

$12 5

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$126 5

(;

*DUDQWLD GR IDEULFDQWH DQR )RUPDWR FRPSDWtYHO ' %' '9' 0tGLD FRPSDWtYHO $9&+' ',9;+' &RQYHUVmR GH ' SDUD ' (QWUDGD 86% 6DtGD +'0, YtGHR FRPSRVWR $FHVVyULRV FDER +'0,

$ 9LVWD 5 [ [ 5 VHP MXURV RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

(175$'$

86%

*DUDQWLD GR IDEULFDQWH DQR 3RWrQFLD 506 : )DODQWH )0 GLJLWDO &RQWUROH UHPRWR

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

(175$'$

(175$'$

327È1&,$ 727$/ 506 :

327È1&,$ 727$/ 506 :

86%

86%

$12 5

0LFUR 6\VWHP 3DQDVRQLF 6& $.; 31 .

*DUDQWLD GR IDEULFDQWH DQR &DSDFLGDGH SDUD &' 5HSURGXomR 03 &' 5 &' 5: $ 9LVWD 5 [ [ 5 VHP MXURV 5iGLR $0 )0 &RQWUROH UHPRWR RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

/&'

5

(175$'$

+'0, 79 $2& /&' ' :

$ 9LVWD 5 [ [ 5 VHP MXURV *DUDQWLD GR IDEULFDQWH DQR 7HPSR GH UHVSRVWD 06 (QWUDGDV 3& 9*$ &RQVXPR GH HQHUJLD : K &RQVXPR VWDQGE\ : K $12 5

WLD *DUDQ 75$

(;

$126 5

$ 9LVWD 5 [ [ 5 VHP MXURV

'79 /&'

$126 5

(175$'$

+'0,

/&'

&2035$ 3527(*,'$

5

*DUDQWLD GR IDEULFDQWH DQR 7HPSR GH UHVSRVWD 06 (QWUDGDV 3& /$1 6DtGDV DQDOyJLFR ySWLFR IRQH 9,(5$ FRQQHFW ,PDJH YLHZHU &RQVXPR XVR VWE\ : : $12 5

WLD *DUDQ 75$

(;

&2035$ 3527(*,'$

5

(175$'$

79 6RQ\ /(' ' %UDYLD )+' .'/ (;

$126 5

*DUDQWLD GR IDEULFDQWH DQR 7HPSR GH UHVSRVWD 06 (QWUDGD DQDOyJLFD 'LIHUHQFLDO LQWHUDWLYLGDGH 'LIHUHQFLDO EUDYLD V\QF $ 9LVWD 5 3RWrQFLD GR iXGLR : : 506

[ [ 5 VHP MXURV &RQVXPR XVR VWE\ : K : K

&219(5625 ',*,7$/ ,17(*5$'2

'

(175$'$

$ 9LVWD 5 [ [ 5 VHP MXURV

(;

&219(5625 ',*,7$/ ,17(*5$'2

+'0,

79 3DQDVRQLF 3ODVPD ' )+' 7&3 *7 %

WLD *DUDQ 75$

79 6RQ\ /&' %UDYLD .'/ %;

'

(175$'$6

)8// +'

&219(5625 ',*,7$/ ,17(*5$'2

&219(5625 ',*,7$/ ,17(*5$'2

+'0,

*DUDQWLD GR IDEULFDQWH DQR 7HPSR GH UHVSRVWD 06 (QWUDGDV 5*% 86% 6DtGDV GLJLWDO ySWLFR

(VSHVVXUD PP 'LIHUHQFLDO 86% 'LY; +' &2035$ 3527(*,'$ 'LIHUHQFLDO HQHUJ\ VDYLQJ 5 3RWrQFLD GR iXGLR : 506 )UHT rQFLD +] &RQVXPR XVR VWE\ : K : K (;

$12 5

*DUDQWLD GR IDEULFDQWH DQR &2035$ 3527(*,'$ &' SOD\HU 5 &DSDFLGDGH SDUD &' $ 9LVWD 5 5HSURGXomR 03 &' 5 &' 5: :0$ [ [ 5 VHP MXURV (TXDOL]DGRU RX HQWUDGD 5 &RQWUROH UHPRWR [ 5 5iGLR $0 )0 7RWDO D SUD]R 5

79 /* /&' '79 )+' /.

WLD *DUDQ 75$

$126 5

&219(5625 ',*,7$/ ,17(*5$'2

$12 5

(;

0LQL 6\VWHP /* 86% 5$7

&219(5625 ',*,7$/ ,17(*5$'2 &2035$ 3527(*,'$

WLD *DUDQ 75$

+'0,

/('

$ 9LVWD 5 [ [ 5 VHP MXURV *DUDQWLD GR IDEULFDQWH DQR (QWUDGD DQDOyJLFD 6DtGDV GLJLWDO &2035$ 3527(*,'$ &RQYHUVmR GH ' SDUD ' ' 5 'LIHUHQFLDO LQWHUQHW YtGHR 'LIHUHQFLDO WHFQRORJLD ' 3RWrQFLD GR iXGLR : 506 )UHT rQFLD +] &RQVXPR XVR VWE\ :K :K

79 /* /&' /(' &LQH ' )+''7970 /:

&,1( ' +'0,

$ 9LVWD 5 [ [ 5 VHP MXURV *DUDQWLD GR IDEULFDQWH DQR 7HPSR GH UHVSRVWD 06 (QWUDGDV 5*% 86% 6DtGDV GLJLWDO ySWLFR

&RQYHUVmR GH ' SDUD ' 'LIHUHQFLDO ,OXPLQDomR /(' 'LIHUHQFLDO VPDUW 79 PDJLF PD 3RWrQFLD GR iXGLR : 506 )UHT rQFLD +] &RQVXPR XVR VWE\ : :

*$5$17,$ '( 6$7,6)$d®2 35(),5$ $ 6(*85$1d$ '( 48(0 *$5$17( 2 48( 9(1'(

(175$'$6

)8// +'

'79 &2035$ 3527(*,'$

5


, QIRUPiWLFD D QWH

$QRV

* DUD

)UHT rQFLD GH *+] &RPSDUWLOKDPHQWR EDQGD ODUJD 3RWrQFLD WUDQVPLVVmR GH G%P SRUWD :$1 SRUWDV /$1 0ESV

WLD

Q

=tSHU UHVLVWHQWH j iJXD 6XSRUWH LQWHUQR 6XSHUItFLH FRQWUD ULVFRV 7LUDV LQWHUQDV

G R )D E

U

0RFKLOD 3 1RWHERRN 0D[SULQW &= 90

0RFKLOD 3 1RWH 6RQ\ 9*3 &&3 5 90 &=

.LW 7HFODGR 0RXVH 6 )LR 0LFURVRIW 37 $*,6

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

&RVWXUDV UHIRUoDGDV &RPSDUWLPHQWR LQWHUQR DFROFKRDGR FRP DPSOR HVSDoR $OoDV H HQFRVWR DOPRIDGDGRV

*DUDQWLD GR IDEULFDQWH DQR %ROVR SDUD 03 0DWHULDO 1\ORQ 'LVSRQtYHO WDPEpP QD FRU D]XO FRP FLQ]D

D QWH

5

86% ,0%87,'2 =RRP ySWLFR GLJLWDO [ [ 6HQVLELOLGDGH PD[ ,62 0iTXLQD )RWRJUiILFD 6RQ\ 0HPyULD LQWHUQD *E 'LJLWDO 03 '6& - : %5 *UDYDomR FRP iXGLR 5HVRO PD[ YtGHR [ S[ $ 9LVWD 5 0RGRV GH FHQD PDFUR FP [ [ 5 VHP MXURV (VWDELOL]DGRU GLJLWDO RX HQWUDGD 5 $OLP &DSDF EDWHULD IWV [ 5 'LVSRQtYHO WDPEpP QDV FRUHV 7RWDO D SUD]R 5 SUHWR H ODUDQMD

0XOWLIXQomR (SVRQ 6W\OXV 7;

&2035$ 3527(*,'$

5

0(*$3,;(/6 '(7(&725 )$&( '(7(&725 &(1$ ,17(/,*(17(

$QRV

WLD

Q

9HO ,PS &RORULGD DWp SSP 9HO LPS 3UHWR DWp SSP &RPSDWtYHO :LQGRZV 0DF 7LSR LPSUHVVmR MDWR GH WLQWD $ 9LVWD 5 0HPyULD 0% [ [ 5 VHP MXURV &RQH[mR 86% RX HQWUDGD 5 &DSDFLGDGH GD EDQGHMD )OV [ 5 &RPSDWtYHO FDUWmR PHPyULD 7RWDO D SUD]R 5 &RQVXPtYHLV 7 37 7 &RORU

'(7(&725 )$&( 6255,62

* DUD

)81d®2 &23,$'25$ 6&$11(5

0(*$3,;(/6

D QWH

0(*$3,;(/6

*DUDQWLD GR IDEULFDQWH DQR '(7(&725 )$&( ( 6255,62 =RRP ySWLFR GLJLWDO [ [ 6HQVLELOLGDGH PD[ ,62 '(7(&725 &(1$ 0iTXLQD )RWRJUiILFD 0tGLD FRPS PD[ PLFUR 6' *% ,17(/,*(17( 6DPVXQJ 'LJLWDO 03 (& 6+ 35 *UDY FRP iXGLR H ]RRP 0RGRV GH FHQD PDFUR FP $ 9LVWD 5 (VWDELOL]DGRU GLJLWDO [ [ 5 VHP MXURV 0DUFD GD OHQWH VDPVXQJ RX HQWUDGD 5 0HP LQWHUQD 0% [ 5 $OLP FDSDF EDW UHF IWV 7RWDO D SUD]R 5 'LVSRQtYHO WDPEpP QDV FRUHV SUHWR H YHUPHOKR

U

LF

Q

G R )D E

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

&2035$ 3527(*,'$

U

LF

* DUD

$QRV

WLD

*DUDQWLD GR IDEULFDQWH DQR 3RUWD UHFHSWRU QR PRXVH 7HFODV GH DWDOKR ,QGLFDGRU GH SLOKD IUDFD

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

G R )D E

0iTXLQD )RWRJUiILFD 3DQDVRQLF 0 '0& =6 /% . 37 *DUDQWLD GR IDEULFDQWH DQR =RRP ySWLFR GLJLWDO [ ; $ 9LVWD 5 6HQVLELOLGDGH PD[ ,62 [ [ 5 VHP MXURV 0tGLD FRPS PD[ 6' 6'+& * RX HQWUDGD 5 *UDYDomR FRP FRP iXGLR [ 5 $OLP &DSDF EDWHULD )WV 7RWDO D SUD]R 5 $FRPSDQKD FDER GH YtGHR H FDSD

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$ &2035$ 3527(*,'$

5

1RWHERRN /* & * %& 3 37

/(' '79

0RQLWRU 79 6DPVXQJ /(' )+' '79 /7

$ 9LVWD 5 [ [ 5 VHP MXURV *DUDQWLD GR IDEULFDQWH DQR

$12 5

WLD *DUDQ 75$

(;

1RWHERRN ,WDXWHF : 35

$ 9LVWD 5 [ [ 5 VHP MXURV

)8// +' $126 5

9(/2&,'$'(

*+=

&2035$ 3527(*,'$

*%

)RUPDWR GD WHOD 7HPSR GH UHVSRVWD 06 0XOWLPtGLD HPEXWLGR (QWUDGDV 5*% 79 86% +'0, &RPSDWLELOLGDGH ZLQGRZV &RQVXPR GH HQHUJLD :

5

+' *%

.*

3& +(/3 5

$ 9LVWD 5 [ [ 5 VHP MXURV

*DUDQWLD GR IDEULFDQWH DQR &RQH[mR ZL )L ZLUHOHVV

8QLGDGH yWLFD *UDYDGRU '9' &' /HLWRU FDUWmR PHPyULD 7HOD /(' /&' SRUWDV 86%

%DWHULD 7LSR FpOXODV $XWRQRPLD GD EDWHULD DSUR[ K $12 5

WLD *DUDQ 75$

(;

$126 5

5

9(/2&,'$'(

*+=

*% +' *% 8((=(

0 64 5É7,6 8

*

.*

*DUDQWLD GR IDEULFDQWH DQR &RQH[mR :L )L :LUHOHVV

8QLGDGH yWLFD '9' 5: /HLWRU FDUWmR PHPyULD SRUWDV 86% %DWHULD 7LSR &pOXODV $XWRQRPLD GD EDWHULD K $12 5

WLD *DUDQ 75$

(;

$126 5

9(/2&,'$'(

WLD

Q

*%

9(/2&,'$'(

$QRV

* DUD

*+=

G R )D E

*+=

+' *%

*%

:(%&$0

*%

.*

+' *%

&2035$ 3527(*,'$

5

*+=

:(%&$0 .*

.* 3& +(/3 5

&RPSXWDGRU $2& (YR 8 37

$ 9LVWD 5 [ [ 5 VHP MXURV *DUDQWLD GR IDEULFDQWH DQR :LUHOHVV

WLD *DUDQ 75$

(;

U

9(/2&,'$'(

+' *%

$12 5

D QWH

5

3& +(/3

LF

&2035$ 3527(*,'$

$126 5

/HLWRU FDUWmR GH PHPyULD HQWUDGDV 86% 8QLGDGH yWLFD JUDYDGRU GH '9' 7HOD /&' /(' :HEFDP 6: 3URGXW 2IILFH 6WDUWHU 6:$QWL YLUXV YDOLG 0F$IHH PH &RQVXPR Pi[ .: K :

$12 5

WLD *DUDQ 75$

(;

$126 5

/HLWRU FDUWmR GH PHPyULD HQWUDGDV 86% 8QLGDGH yWLFD JUDYDGRU &' '9' 7HOD /&' /(' 6: 3URG 2IILFH 6WDUWHU $ 9LVWD 5 [ [ 5 VHP MXURV 6:$QWL YLUXV 9DO 1RUWRQ DQR 'LIHUHQFLDO VDtGD +'0, 'LIHUHQFLDO DWp K GH EDWHULD *DUDQWLD GR IDEULFDQWH DQR &RQVXPR Pi[ .: K : &RQH[}HV ZLUHOHVV ZL IL EOXHWRRWK 1RWHERRN 3RVLWLYR 6LP 37

2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

U

&2035$ 3527(*,'$

5

3& +(/3 5

&RQH[mR ZL IL ZLUHOHVV

8QLGDGH yWLFD JUDYDGRU '9' &' 1RWHERRN 6RQ\ 9DLR /HLWRU FDUWmR PHPyULD 93& (* )% % 37 7HOD /&' /(' SRUWDV 86% %DWHULD WLSR tRQV GH OtWLR $ 9LVWD 5 [ [ 5 VHP MXURV $XWRQRPLD GD EDWHULD DWp K

&$57®2 %(02/ &/,(17( %(02/ 7(0 %Ñ186 1$6 &2035$6

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

G R )D E

D QWH

Q

WLD

,'($/ 3 127(%22.6 $7e

LF

* DUD

$ 9LVWD 5 [ [ 5 VHP MXURV

$QRV

$ 9LVWD 5 [ [ 5 VHP MXURV RX HQWUDGD 5 [ 5 7RWDO D SUD]R 5

)RWRV PHUDPHQWH LOXVWUDWLYDV

U

D QWH

G R )D E

&DVH 3 ,SDG 0D[SULQW &= 90

LF

Q

WLD

5RWHDGRU ,QWHOEUDV :LUHOHVV 0% :51

LF

* DUD

$QRV


2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

%/8 5$<

( QWUHWHQLPHQWR /DQoDPHQWR GLD %/8 5$< 'HX $ /RXFD 1D %UDQFD 'H 1HYH 5

%/8 5$< $VWHUL[ ( 2V 9LNLQJV 5

%/8 5$< %XFN $GRUiYHO &mR 6HOYDJHP ' 5

%/8 5$< '9' 'LJLWDO &RS\ 2 5HL /HmR 5

%/8 5$< '9' (X 6RX 2 1~PHUR 4XDWUR 5

%/8 5$< .XQJ )X 3DQGD 5

%/8 5$< 7UDQVIRUPHUV %/8 5$< 2 /DGR 2FXOWR 'D /XD 3DGUH ' 5 5

'9'V

5HSURGXomR VRPHQWH HP DSDUHOKRV FRP WHFQRORJLD %OX 5D\

'9' /. %DFN\DUGLJDQV '9' 2 -RYHP 1R PXQGR 'D )DQWDVLD +pUFXOHV 5 5

'9' 3UtQFLSH 'R 1LOR +LVWyULD 'H 0RLVpV 5

'9' 0RLVpV 2 0DLRU 3UtQFLSH 'R (JLWR 5

'9' +, $XVWUiOLD &OLSHV 0XVLFDLV 5

'9' &OXEH GD &ULVWLQD 0HO 5

'9' .XQJ )X 3DQGD 5

'9' 2 3RGHU 'D $OLDQoD 5

'9' 1R &DPLQKR 'R 0LODJUH $R 9LYR 5

'9' *XVWDYR /LPD ( 9RFr $R 9LYR 5

'9' ;VSE 5

'9' 1LYDQD /LYH $W 7KH 3DUDPRXQW 5

'9' 7UDQVIRUPHUV 2 /DGR 2FXOWR 'D /XD 5

'9' %DUELH (VFROD 'H 3ULQFHVDV 5

'9' 7KRU 5

/DQoDPHQWR GLD '9' *RUPLWL 2 'HVDILR )LQDO 7DWRR 5

&' 66 -RYHP *XDUGD 9RO 5

&' 66 3KROKDV 5

&' '7 6RO 'D -XVWLoD $QD 3DXOD 9DODGmR 5

&' $OLQH %DUURV ( &LD 5

&' %UXQR ( 0DUURQH -XUDV 'H $PRU 5

&' +HQULTXH /HPHV ÌGRORV 5

&' ;X[D 6y 3DUD %DL[LQKRV 5

&' 'DQLHO 3UD 6HU )HOL] 5

&' -RmR %RVFR ( 9LQtFLXV 5

&' '9' 4XDQGR 7RFD 2 6LQR 5

&' 3KLQHDV $QG )HUE $WUDYpV 'D D 'LPHQVmR 5

&' 9LO}HV 'LVQH\ 5

&; &'6 -RWD 4XHVW 5

&' '9' 4XDQGR 7RFD 2 6LQR 5

&; &'6 1LUYDQD 1HYHUPLQG (G &RP ( 'HOX[H 5

&' '9' 7RQQ\ %HQQHWW 'XHWV ,L 5

/,9526

(VWH OLYUR WUiV WXGR R TXH RV SDLV JRVWDULDP GH GL]HU DRV ILOKRV FRP UHODomR j VXD LP SRUWkQFLD H YDORU TXH VmR HVSHFLDLV SDUD 'HXV H TXH QXQFD RV DEDQGRQDUmR

(VWH OLYUR GD LQRYDGRUD VpULH /HLD H 'LYLUWD VH ID] D FULDQoD YLDMDU FRP 1Rp HP VXD EDUFD JUDoDV D XPD QDU UDWLYD FDWLYDQWH H PXLWD LQWHUDWLYLGDGH 2 OHLWRU PLULP SRGHUi OHU H YLYHQ FLDU D KLVWyULD GR GLO~YLR RX UHFRQWDU D KLVWyULD FRP RV SHUVRQDJHQV

/,952 'H 9ROWD ­ &DEDQD :LOOLDP 3 <RXQJ 5

2 OLYUR 2 5HWRUQR GR -RYHP 3UtQFLSH p XPD REUD GH ILFomR TXH IDOD GD YLVLWD GH XP FpOHEUH SUtQFLSH D 7HUUD HP VXD DGR OHVFrQFLD &RP YLVmR KXPDQLVWD H HVSLU LWXDO VREUH R PXQGR VHXV KDELWDQWHV H RV YDORUHV EiVLFRV TXH RV VXVWHQWDP R SRHWD DUJHQWLQR $ * 5RHPPHUV

$LQGD FULDQoD :LOOLDP 3 <RXQJ DXWRU GH ´$ FDEDQDµ FRQKHFHX R DEDQGRQR D GRU H R DEXVR %XVFRX QD UHOLJLmR XP SRUWR VHJXUR PDV QXQFD VH VHQWLX WRWDOPHQWH SURWHJLGR $VVLP FRPR 0DFN SHUVRQDJHP SULQFLSDO GH VHX URPDQFH HOH HVWDYD SHUGLGR TXHVWLRQDQGR VHXV YDORUHV VXD Ip H R SUySULR VHQWLGR GH VXD YLGD $R HVFUHYHU ´$ FDEDQDµ <RXQJ

/,952 $ 7RUPHQWD *HOR ( )RJR /,952 *HRUJH 5 5 'H 5

3É*,1$6

/,952 2 5HWRUQR 'R -RYHP 3UtQFLSH $ * 5RHPPHUV 5

3É*,1$6

3É*,1$6

/,952 1Rp ( 2 'LO~YLR -XOLHW 'DYLG 5

3É*,1$6

/,952 9RFr e ,PSRUWDQWH 3DUD 0LP 0D[ /XFDGR 5

3É*,1$6

3RU

)RWRV PHUDPHQWH LOXVWUDWLYDV

&'V

$ WRUPHQWD GH HVSDGDV R WHUFHLUR OLYUR GD VpULH GH *HRUJH 5 5 0DUWLQ RQGH RV 6HWH 5HLQRV Mi VHQWHP R ULJRURVR LQYHUQR TXH FKHJD PDV DV EDWDOKDV SDUHFHP HVWDU PDLV FUXpLV H LPSLHGRVDV (QTXDQWR RV 6HWH 5HLQRV HVWUHPHFHP FRP D FKHJDGD GRV WHPtYHLV VHOYDJHQV SHOD 0XUDOKD QXPD PDUp LQWHUPLQiYHO GH KRPHQV JLJDQWHV H WHUUtYHLV EHVWDV

*$5$17,$ '( 6$7,6)$d®2 35(),5$ $ 6(*85$1d$ '( 48(0 *$5$17( 2 48( 9(1'(


9DULHGDGHV &RQMXQWR 3 &RSR 0DUWLSODVW 4' 34 &4& %&)

/

*DUUDID 7pUPLFD ,QYLFWD 0L[ /

*DUUDID 7pUPLFD ,QYLFWD 0L[ /

&RQMXQWR 3 0DUWLSODVW 3RUWD 6RUYHWH 36 /-) $ 9LVWD 5

'LVSRQtYHO WDPEpP QDV FRUHV ODUDQMD H YHUGH

'LVSRQtYHO WDPEpP QDV FRUHV EUDQFR H YHUGH

$ 9LVWD 5

$ 9LVWD 5

9(/2&,'$'(6

9$325 6(&2

/

635$<

$63,5$ É*8$

&2035$ 3527(*,'$

5 &2035$ 3527(*,'$

$12 5

7URFD *DUDQWLGD

5

$126 5

)HUUR *DUDQWLD GR IDEULFDQWH DQR %ODFN ( 'HFNHU ; . %5 %DVH UHYHVWLGD HP DOXPtQLR /kPSDGD SLORWR 6LVWHPD GH DXWROLPSH]D $ 9LVWD 5 [ [ 5 VHP MXURV 6DOYD ERW}HV 2X [ [ 5 3RWrQFLD : &RQVXPR GH HQHUJLD : K 7RWDO D SUD]R 5

6DQGXLFKHLUD %ODFN ( 'HFNHU +* 7

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$12 5

7URFD *DUDQWLGD

$126 5

/LTXLGLILFDGRU %ODFN ( 'HFNHU /) %5

$12 5

7URFD *DUDQWLGD

$126 5

*DUDQWLD GR IDEULFDQWH DQR )XQomR OLPSDU SXOVDU $ 9LVWD 5 [ [ 5 VHP MXURV &RSR HP DFUtOLFR 2X [ [ 5 3RUWD ILR 3RWrQFLD : 7RWDO D SUD]R 5

*DUDQWLD GR IDEULFDQWH DQR 3RWrQFLD : 7HUPRVWDWR /kPSDGD SLORWR 7UDYD GH VHJXUDQoD

$12 5

7URFD *DUDQWLGD

$126 5

$VSLUDGRU %ODFN ( 'HFNHU 3RUWiWLO 1: *DUDQWLD GR IDEULFDQWH DQR 3RWrQFLD : $ 9LVWD 5 &DSDFLGDGH GR FROHWRU PO [ [ 5 VHP MXURV 3RUWD DFHVVyULR 2X [ [ 5 $FHVVyULR GH FDQWR IUHVWDV 7RWDO D SUD]R 5 H HVFRYD GH OLPSH]D

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

7,0 2, ( &/$52

/,95( /* 7 :LQN 91 $$7

/* 2SWLPXV 0H 3 37 35 $$7

$ 9LVWD 5 [ [ 5 VHP MXURV &kP 0S[ 03 SOD\HU 5iGLR )0 %OXHWRRWK )XQomR PRGHP )RQH RXYLGR &DER 86% $12 5

WLD *DUDQ 75$

(;

$ 9LVWD 5 [ [ 5 VHP MXURV &kPHUD 0S[ 03 3OD\HU 5iGLR )0 %OXHWRRWK :L )L *36 6LVW 2SHU $QGURLG

&2035$ 3527(*,'$

5

$126 5

$12 5

WLD *DUDQ 75$

(;

)81d®2 02'(0

'(6%/248($'2

&+,36

1RNLD & 37

1RNLD ; $=

$12 5

WLD *DUDQ 75$

(;

1RNLD ( %5

$ 9LVWD 5 [ [ 5 VHP MXURV &kPHUD 9*$ 03 SOD\HU 5iGLR )0 %OXHWRRWK )RQH RXYLGR

$126 5

'(6%/248($'2

&2035$ 3527(*,'$

5

$ 9LVWD 5 [ [ 5 VHP MXURV

$ 9LVWD 5 [ [ 5 VHP MXURV

&kPHUD 0S[ 03 SOD\HU 5iGLR )0 %OXHWRRWK ZL IL )XQomR PRGHP * )RQH RXYLGR

&kPHUD 0S[ 03 SOD\HU 5iGLR )0 %OXHWRRWK :L )L *36 6LVW 2SHU 6\PELDQ

$126 5

$12 5

WLD *DUDQ 75$

(;

$126 5

$12 5

WLD *DUDQ 75$

&+,36

0RWRUROD (; &= $$7

$12 5

&kPHUD 0S[ %OXHWRRWK 03 SOD\HU UiGLR )0 )RQH RXYLGR FDER 86%

$12 5

WLD *DUDQ 75$

(;

0RWRUROD (; &= $$7

$126 5 &2035$ 3527(*,'$

5

$ 9LVWD 5 [ [ 5 VHP MXURV

WLD *DUDQ

$

(;75

&kPHUD 0S[ 03 SOD\HU 5iGLR )0 %OXHWRRWK )RQH RXYLGR &DER 86%

$126 5

/,95(

/,95(

(;

)81d®2 02'(0

/,95(

$ 9LVWD 5 [ [ 5 VHP MXURV

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

)81d®2 02'(0

/,95(

2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( 2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

$126 5

$12 5

0RWRUROD $WUL[ 0% 37 $$7 &2035$ 3527(*,'$

5

$ 9LVWD 5 [ [ 5 VHP MXURV

WLD *DUDQ 75$

(;

$126 5

&kPHUD 0S[ 03 SOD\HU %OXHWRRWK :L )L *36 6LVW 2SHU $QGURLG

48$/,'$'( 9$/25,=( 6(8 ',1+(,52 &2035$1'2 48$/,'$'(

)RWRV PHUDPHQWH LOXVWUDWLYDV

$ 9LVWD 5

/


/ LQKD %UDQFD 0LFUR 2QGDV (OHFWUROX[ 0() / %5 9

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

*DUDQWLD GR IDEULFDQWH DQR 3RWrQFLD : 7LPHU 3UDWR JLUDWyULR $XWR GHVFRQJHODPHQWR $XWR DTXHFLPHQWR FR]LPHQWR 7HFOD SLSRFD 7UDYD GH VHJXUDQoD

*DUDQWLD GR IDEULFDQWH DQR 3RWrQFLD : 7LPHU 3UDWR JLUDWyULR $XWR GHVFRQJHODPHQWR $XWR DTXHFLPHQWR FR]LPHQWR 7HFOD SLSRFD 7UDYD GH VHJXUDQoD

WLD *DUDQ 75$

(;

&2035$ 3527(*,'$

5

$126 5

$12 5

WLD *DUDQ 75$

(;

*DUDQWLD GR IDEULFDQWH DQR &RQVXPR GH HQHUJLD : K $XWR GHVFRQJHODPHQWR $XWR DTXHFLPHQWR $XWR FR]LPHQWR 7HFOD SLSRFD 7UDYD GH VHJXUDQoD

&2035$ 3527(*,'$

5

$126 5

WLD *DUDQ 75$

$12 5

(;

FP FP

&/$66( $

Q

G R )D

D QWH

%$,;2 &216802 '( (1(5*,$

EU

LF

* DUD

$QRV

WLD

FP

FP

%786

$TXHFHGRU *iV (OHFWUROX[ $4 / %5 %,9

7,0(5

FP

FP

$U &RQGLFLRQDGR %WXV 6SULQJHU 4&$ %% 9

WLD

$

(;75

*DUDQWLD GR IDEULFDQWH DQR

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$126 5

1tYHO HFRQ{PLFR FODVVH % &RPSUHVVRU URWDWLYR $FLRQDPHQWR PDQXDO *DELQHWH HP DoR JDOYDQL]DGR &LFOR GH DU IULR 6DtGD GR DU ODWHUDO ([DXVWmR GR DU 7LSR MDQHOD

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

'HJHOR PDQXDO $ 9LVWD 5 [ [ 5 VHP MXURV &DSDFLGDGH WRWDO / 2X [ [ 5 3RUWD GH YLGUR 9LGUR DQWL HPEDoDQWH 7RWDO D SUD]R 5 7UDYD QD SRUWD ,OXPLQDomR LQWHUQD *DUDQWLD GR IDEULFDQWH DQR 3UDWHOHLUDV UHJXOiYHLV &RQVXPR GH HQHUJLD : K

FP

9

*DUDQ

5

$126 5

%786

$12 5

$GHJD *( $9*( '& $ ,1 37 9

&2035$ 3527(*,'$

5

FP

FP FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

&2035$ 3527(*,'$

FP

$126 5

/ : 7,0(5

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$12 5

0LFUR 2QGDV &RQVXO &01 $%+1$ / %5

(;

$OWD FDSDFLGDGH GH UHIULJHUDomR 7ULSD ILOWUDJHP &kPDUD GH FDUYmR DWLYDGR $ 9LVWD 5 (OLPLQD LPSXUH]D H RGRUHV [ [ 5 VHP MXURV ,PSHGH SUROLIHUDomR GH EDFWpULDV 2X [ [ 5 7HUPRVWDWR UHJXOiYHO 7RWDO D SUD]R 5 ,QVWDODomR HP SDUHGH RX EDQFDGD 6LVWHPD GH ILOWUR GH IiFLO WURFD *DUDQWLD GR IDEULFDQWH DQR QmR QHFHVVLWDQGR GH IHUUDPHQWDV

FP

0LFUR 2QGDV 3DQDVRQLF 1167 :581 / %5

WLD *DUDQ 75$

3XULILFDGRU /DWLQD 3XUL ,FH

FP

/

5

FP

/

$12 5

6SOLW %WXV (OHFWUROX[ &%83( ) 3, )

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

WLD *DUDQ 75$

(;

&RPSUHVVRU URWDWLYR $FLRQDPHQWR HOHWU{QLFR GLJLWDO &RQWUROH UHPRWR &LFOR GH DU IULR 6DtGD GR DU IURQWDO

3$,1(/ %/8( 728&+

FP

FP

*DUDQWLD GR IDEULFDQWH DQR &RQWUROH GH WHPSHUDWXUD &KDPD PRGXODQWH 7HUPRVWDWR GH VHJXUDQoD 6HQVRU GH FKDPD ([DXVWmR IRUoDGD

%$,;2 &216802 '( (1(5*,$

&/$66( $

$7e .*

352*5$0$6 '( /$9$*(0

FP

&/$66( $

%$,;2 &216802 '( (1(5*,$

%$,;2 &216802 '( (1(5*,$

$7e .*

$7e .*

352*5$0$6 '( /$9$*(0

$7e .*

&(175,)8*$d®2

&(175,)8*$d®2

&(175,)8*$d®2

&/$66( $

%$,;2 &216802 '( (1(5*,$

352*5$0$6 '( /$9$*(0

FP

&/$66( $

FP

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

FP

)RWRV PHUDPHQWH LOXVWUDWLYDV

FP

FP

&2035$ 3527(*,'$

$12 5

FP

FP 2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

FP

FP

FP

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

48$/,'$'( '( É*8$ 3$5$ 68$ &$6$ 28 68$ (035(6$

FP

352*5$0$6 '( /$9$*(0

&(175,)8*$d®2

FP

FP

FP

&2035$ 3527(*,'$

$12 5

/DYDGRUD (OHFWUROX[ /7( %5

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

48(,0$'25(6

WLD

*DUDQ

$

(;75

$126 5

6LVW GH ODYDJHP WXUELOKmR 7LSR GH FRQWUROH PHFkQLFR 1tYHLV GH iJXD &HVWR HP SROLSURSLOHQR 'LVSHQVHU SDUD DPDFLDQWH DOYHMDQWH 3URJUDPD GH HQ[iJ HV

$ *É6

$12 5

/DYDGRUD %UDVWHPS %:/ $%$ %5

DQWLD

*DU 75$

(;

$126 5

*DUDQWLD GR IDEULFDQWH DQR 6LVWHPD GH ODYDJHP DJLWDGRU 7LSR GH FRQWUROH HOHWU{QLFR $ 9LVWD 5 1tYHLV GH iJXD [ [ 5 VHP MXURV &HVWR HP LQR[ 2X [ [ 5 'LVSHQVHU S DPDFLDQWH DOYHMDQWH 7RWDO D SUD]R 5 3URJUDPD GH HQ[iJ HV

/DYDGRUD *( /9*( ,$ %5 %5

$12 5

(;

$126 5

6LVWHPD GH ODYDJHP DJLWDGRU $ 9LVWD 5 7LSR GH FRQWUROH HOHWU{QLFR [ [ 5 VHP MXURV 1tYHLV GH iJXD 2X [ [ 5 &HVWR HP LQR[ 7RWDO D SUD]R 5 'LVSHQVHU SDUD DPDFLDQWH DOYHMDQWH *DUDQWLD GR IDEULFDQWH DQR 3URJUDPD GH HQ[iJ HV

FP

*DUDQWLD GR IDEULFDQWH DQR /DYDGRUD 6HFDGRUD $TXHFLPHQWR GH iJXD (OHFWUROX[ /6( %5 6LVWHPD GH ODYDJHP WRPEDPHQWR 7LSR GH FRQWUROH PHFkQLFR $ 9LVWD 5 1tYHO GH iJXD DXWRPiWLFR [ [ 5 VHP MXURV &HVWR HP LQR[ 2X [ [ 5 'LVSHQVHU SDUD DPDFLDQWH DOYHMDQWH 7RWDO D SUD]R 5 3URJUDPD GH HQ[iJ HV

5

FP

,62

*DU 75$

FP

&2035$ 3527(*,'$

FP

DQWLD

&2035$ 3527(*,'$

&RRNWRS % %UDVWHPS *iV %'' $(81$ 37

FP

5

FP

5

5

FP

&2035$ 3527(*,'$

&2035$ 3527(*,'$

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5 *DUDQWLD GR IDEULFDQWH DQR $FDEDPHQWR YLGUR $FHQGLPHQWR VXSHU DXWRPiWLFR 7HQVmR ELYROW

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$872/,03$17(

: 7(50267$72 FP

)RUQR $ *iV (OHFWUROX[ 2* 0; ,1 (0%

FP

*DUDQWLD GR IDEULFDQWH DQR &DSDFLGDGH LQWHUQD / ,OXPLQDomR LQWHUQD

5

$12 5

WLD *DUDQ 75$

(;

$126 5

3UDWHOHLUD UHPRYtYHO $SDUDGRU GH UHVtGXRV 'RXUDGRU 9LGUR QD SRUWD )XQFLRQDPHQWR HQHUJLD JiV 7HQVmR 9

35(),5$ 48(0 6( (6)25d$ ',$5,$0(17( 3$5$ 2)(5(&(5 2 0(/+25 $7(1',0(172


FP

FP

/ LQKD %UDQFD FP

&2035$ 3527(*,'$

5

&2035$ 3527(*,'$

5

&/$66( $

&/$66( $

%$,;2 &216802 '( (1(5*,$

%$,;2 &216802 '( (1(5*,$

%2&$6 $&(1',0(172 $8720É7,&2

)RJmR % &RQWLQHQWDO 1RYLWD )*&7 319 %5

WLD

*DUDQ

$126 5

$

(;75

)RJmR % %UDVWHPS &/( %) %581$ ,1

*DUDQWLD GR IDEULFDQWH DQR 0HVD GH LQR[ 3UDWHOHLUDV IL[D 7DPSD GH YLGUR ,OXPLQDomR QR IRUQR

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$12 5

WLD *DUDQ 75$

(;

/

FP

$872/,03$17(

WLD *DUDQ 75$

$12 5

$126 5

)UHH]HU &RQVXO &+% &%$ / %5

*DUDQWLD GR IDEULFDQWH DQR 0HVD GH LQR[ 3UDWHOHLUDV GHVOL]DQWHV 7DPSD GH YLGUR ,OXPLQDomR QR IRUQR

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

(;

$126 5

3e6 &20 52',1+$6 7(&/$ &21*(/$0(172 5É3,'2

*DUDQWLD GR IDEULFDQWH DQR 1tYHO HFRQ{PLFR FODVVH ' )XQomR UHIULJHUDGRUD 3RVLomR KRUL]RQWDO 5HYHVWLPHQWR DoR SLQWDGR &HVWR SDUD HVWRFDJHP 3DLQHO GH FRQWUROH

&2035$ 3527(*,'$

5

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

$ %(02/ (67É 1$6 5('(6 62&,$,6

&2035$ 3527(*,'$

&216802 '( (1(5*,$

5 0È6 RX : K /,*$'2 K

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5 *DUDQWLD GR IDEULFDQWH DQR 'HJHOR FRQJ PDQXDO 'HJHOR UHIULJ PDQXDO &RQWUROHV LQWHUQR &DSDFLGDGH FRQJHODGRU / 3UDWHOHLUDV UHPRYtYHLV WLD *DUDQ 75$

(;

5

/

$126 5

FP

)5267 )5(( FP

FP

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5 *DUDQWLD GR IDEULFDQWH DQR &RQWUROHV LQWHUQR 3RUWD UHYHUVtYHO &DSDFLGDGH FRQJHODGRU / 3UDWHOHLUDV UHJXOiYHLV 3UDWHOHLUDV UHPRYtYHLV 3RUWD ODWLFtQLR 3RUWD ODWD $12 5

WLD *DUDQ 75$

(;

/RMDV %HPRO

ZZZ EHPRO FRP EU 6,*$ 126 ( ),48( 325 '(1752 '( 126626 /$1d$0(1726 ( 35202d¯(6

$126 5

8 7 2 & / $

6 6 ( $

35 2 '

FP

/

&216802 '( (1(5*,$

5 0È6 RX : K /,*$'2 K

FP

8 7 2 & / $

6 6 ( $

35 2 '

$12 5

&2035$ 3527(*,'$

FP

&216802 '( (1(5*,$

5 0È6 RX : K /,*$'2 K

*HODGHLUD &RQWLQHQWDO )) 5)&7 / %5

8 7 2 & / $

6 6 ( $

*HODGHLUD &RQVXO &5& )%$1$ / %5

#EHPRORQOLQH 35 2 '

FP

8 7 2 & / $

6 6 ( $

35 2 '

5

FP

&216802 '( (1(5*,$

35 2 '

8 7 2 & / $

6 6 ( $

5 0È6 RX : K /,*$'2 K

&216802 '( (1(5*,$

5 0È6 RX : K /,*$'2 K

)5267 )5(( 0$,25 )5((=(5 '$ &$7(*25,$

5

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

&2035$ 3527(*,'$

/

5

FP

FP

*HODGHLUD (OHFWUROX[ ) ) ') / %5

/

&2035$ 3527(*,'$

/

FP

FP $12 5

WLD *DUDQ 75$

(;

$126 5

*DUDQWLD GR IDEULFDQWH DQR &RQWUROHV H[WHUQRV &DSDFLGDGH GR FRQJHODGRU /LWURV 3UDWHOHLUDV UHJXOiYHLV UHPRYtYHLV 3RUWD ODWLFtQLR ODWDV

*HODGHLUD %UDVWHPS )) %50 1% / %5

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

$12 5

2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

)2512 $872/,03$17( $12 5

FP

)2512

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

FP

WLD *DUDQ 75$

(;

$126 5

*DUDQWLD GR IDEULFDQWH DQR 'HJHOR FRQJ UHIULJ IURVW IUHH &RQWUROHV H[WHUQRV &DSDFLGDGH FRQJHODGRU / 3UDWHOHLUDV UHJXOiYHLV UHPRYtYHLV 3RUWD ODWLFtQLR ODWDV

*HODGHLUD /* )) 0% 8/9 * / 7,

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

FP

$12 5

WLD *DUDQ 75$

(;

$126 5

*DUDQWLD GR IDEULFDQWH DQR &RQWUROHV H[WHUQR 3RUWD UHYHUVtYHO &DSDFLGDGH FRQJHODGRU / 3UDWHOHLUDV UHJXOiYHLV UHPRYtYHLV

48$/,'$'( 9$/25,=( 6(8 ',1+(,52 &2035$1'2 48$/,'$'(

)RWRV PHUDPHQWH LOXVWUDWLYDV

$&(1',0(172 $8720É7,&2 727$/

FP

FP

FP

%2&$6


0yYHLV

126626

6(59,d26 &$57®2 ( %Ñ186

&5(',É5,2 35Ð35,2

FP

FP

3DUFHOH VXDV FRPSUDV FRP FRPRGLGDGH H DFXPXOH SRQWRV SDUD VXDV SUy[LPDV FRPSUDV

&2035$ 3527(*,'$

FP

5

,'26 &2/&+¯(6 9(1' ( 6(3$5$'$0(17

5(1(*2&,( 6(86 &2175$726

5HSDFWXDomR GLVSRQtYHO HP TXDOTXHU ORMD GH IRUPD VLPSOHV D MXURV UHGX]LGRV

FP FP

3257$6

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

&2035$ 3527(*,'$

5

&2035$ 3527(*,'$

0DWHULDO 0'3 $FDEDPHQWR ,PSUHVVmR 5HVSLUR DQWL PRIR 6LVWHPD GH PRQWDJHP IL[DomR 'REUDGLoDV PHWiOLFDV &RUUHGLoDV PHWiOLFDV 3X[DGRUHV WLSR SROLSURSLOHQR 'LVSRQtYHO WDPEpP QD FRU WDEDFR FRP PDSOH

5

%HOLFKH .DVSHU 3LQXV 7% 7% 0DWHULDO 0DGHLUD PDFLoD 3LQXV $ 9LVWD 5 3LQWXUD 9HUQL] [ [ 5 VHP MXURV $FDEDPHQWR 9HUQL] 2X [ [ 5 6LVWHPD GH PRQWDJHP )L[DomR 7RWDO D SUD]R 5 'LVSRQtYHO WDPEpP QD FRU PDUILP

FP

(/(7523257É7(,6

*$9(7$6 %DOFmR 3 6RPRSDU &RVPRVOLJKW 7%

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

FP

0DWHULDO 0'3 0') $FDEDPHQWR 89 6LVW GHPRQWDJHP PLQLIL[ IL[DomR &RUUHGLoDV PHWiOLFDV 3X[DGRUHV WLSR SROLSURSLOHQR 'LVSRQtYHO WDPEpP QD FRU EUDQFR FRP SUHWR

3257$6

*DUDQWLD GR IDEULFDQWH DQR *DYHWD FRP FRUUHGLoD %RUGDV DUUHGRQGDGDV

5

FP

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

P

*$9(7$6 FP

P

3257$6

0DWHULDO 0') 0'3 $FDEDPHQWR VHPL EULOKR 3LQWXUD 89 (VWDQWH /tQHD 'REUDGLoDV $FiFLD ,0% 37 6LVWHPD GH PRQWDJHP JLURIL[ $FRPRGDomR 79 6RP '9' $ 9LVWD 5 %DU [ [ 5 VHP MXURV 3X[DGRUHV WLSR 39& FURPDGR 2X [ [ 5 'LVSRQtYHO WDPEpP QD FRU 7RWDO D SUD]R 5 WDEDFR FRP EUDQFR

QWLD *DUD75$

(;

9,'$ /21*$ 3$5$ 6(86 352'8726

RX DQRV D PDLV GH SURWHomR HP VXDV FRPSUDV SRU XP SHTXHQR FXVWR DGLFLRQDO SHVVRDV ItVLFDV VRPHQWH

&$57®2 35(6(17(

2%-(726 '( '(&25$d®2 9(1','26 6(3$5$'$0(17(

(VWRIDGR &DQWR $PHWLVWD /XDO 05

6DOD 3 6RPRSDU $QQH 73 & &0 &=

FP

$ 9LVWD 5 [ [ 5 VHP MXURV [ 2X [ [ 5 7RWDO D SUD]R 5

FP

0DGHLUD GH HXFDOLSWR 3HUVLDQDV GH ERUUDFKD (VSXPD PDFLD H UHVLVWHQWH (QFRVWR IORFRV GH HVSXPD 3pV SOiVWLFRV

$ 9LVWD 5 [ [ 5 VHP MXURV [ 2X [ [ 5 7RWDO D SUD]R 5

0DWHULDO FKDSD GH DoR &ULVWDOHLUD 3UDWHOHLUDV UHPRYtYHLV 3X[DGRUHV WLSR $ 9LVWD 5 [ [ 5 VHP MXURV $%6 PHWDOL]DGR 2X [ [ 5 3LQWXUD HOHWURHVWiWLFD D Sy 3pV UHJXOiYHLV 7RWDO D SUD]R 5 'LVSRQtYHO WDPEpP QDV FRUHV SUHWR H YHUGH *DUDQWLD GR IDEULFDQWH DQR

$VVHQWR DFROFKRDGR &RU GR DVVHQWR %HJH 0DWHULDO FRPSHQVDGR 0') $FDEDPHQWR FURPDGR 7DPSR WLSR YLGUR )RUPDWR GR WDPSR TXDGUDGR

3(d$6 5

FP

FP

$ 9LVWD 5 [ [ 5 VHP MXURV .LW 3 * [ 2X [ [ 5 ,WDWLDLD ,WDQRYD , 9 ' %5 7RWDO D SUD]R 5

&2035$ 3527(*,'$

/,67$ '( 35(6(17(6

)DFLOLWH D HVFROKD GH VHXV FRQYLGDGRV GHL[DQGR D OLVWD QD %HPRO RX HP QRVVR VLWH ZZZ EHPRO FRP EU

FP

-RJRV SDJDPHQWRV GH FRQWDV UHFHELPHQWR GH EHQHItFLRV VDTXHV GD &DL[D H %% FUpGLWR GH FHOXODU HWF 3UHVHQWHV HP ORMDV GD %HPRO

*$9(7$6

&RSD 3 0RGHFRU 9, &0 7% %*

FP

FP

3257$6

*DUDQWLD GR IDEULFDQWH DQR 0DWHULDO FKDSD GH DoR 3LQWXUD HOHWURVWiWLFD D Sy 3UDWHOHLUD UHPRYtYHO VLP 'REUDGLoDV WLSR SUHVVmR 3X[DGRUHV WLSR $%6 PHWDOL]DGR 3pV UHJXOiYHLV 'LVSRQtYHO WDPEpP QD FRU YHUGH

2%-(726 '( '(&25$d®2 9(1','26 6(3$5$'$0(17( FP

3RU XP SHTXHQR FXVWR DGLFLRQDO YRFr JDUDQWH SURWHomR H[WUD SDUD VHX HOHWURSRUWiWLO $ *DUDQWHFK DVVHJXUD D WURFD HP FDVR GH GHIHLWRV SHVVRDV ItVLFDV VRPHQWH

%DOFmR 3 * ,WDWLDLD ,WDQRYD ,* * ' %5

&2035$ 3527(*,'$

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

FP

'XDV YLVLWDV WpFQLFDV SDUD LQVWDODomR H VXSRUWH GR VHX FRPSXWDGRU RX QRWHERRN

0DWHULDO 0'3 0') PP

&2035$ 3527(*,'$ $FDEDPHQWR YHUQL] DOWR EULOKR 5DFN +RPH 3LQWXUD 89 3URWHMD VHX SURGXWR FRQWUD GDQRV .DSSHVEHUJ 6 37 55 6LVWHPD GH PRQWDJHP IL[DomR H DFLGHQWHV QmR FREHUWRV SHOR IDEULFDQWH GXUDQWH R SUD]R GH JDUDQWLD $FRPRGDomR 79 YtGHR 3X[DGRUHV WLSR SROLHWLOHQR $ 9LVWD 5 [ [ 5 VHP MXURV 3pV FRP URGLQKDV 2X [ [ 5 'LVSRQtYHO WDPEpP QD FRU EUDQFR FRP SUHWR FP 7RWDO D SUD]R 5

$ 9LVWD 5 [ [ 5 VHP MXURV [ 2X [ [ 5 7RWDO D SUD]R 5

&{PRGD * .DSSHVEHUJ 6 7&, 37

*$5$17,$ %(02/ '( 6$7,6)$d®2

9RFr SRGH WURFDU RX FDQFHODU D FRPSUD HP DWp GLDV

3& +(/3

FP

3ROWURQD / 0RGHFRU &0 37

FP

)RWRV PHUDPHQWH LOXVWUDWLYDV

0DWHULDO 0') $FDEDPHQWR YHUQL] DOWR EULOKR 5DFN $UWHO\ 3LQWXUD 89 $OOHJUR 0* 6LVWHPD GH PRQWDJHP PLQLIL[ /RFDO SDUD FDL[D GH VRP $FRPRGDomR 79 VRP YtGHR $ 9LVWD 5 [ [ 5 VHP MXURV 3RUWD &' V 2X [ [ 5 3pV FRP URGLQKDV 'LVSRQtYHO WDPEpP QD FRU PDUILP 7RWDO D SUD]R 5

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

FP

2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

5RXSHLUR 3 * .DSSHVEHUJ 3 7% %5

FP

FP

*$9(7$6 FP

&UHGLiULR SUySULR IOH[tYHO H SHUVRQDOL]DGR

FP

3(d$6

&2035$ 3527(*,'$

5

*DUDQWLD GR IDEULFDQWH DQR $VVHQWR DFROFKRDGR 0DWHULDO 0') )HUUR $FDEDPHQWR YHUQL] SURWHWRU 7DPSR GH YLGUR )RUPDWR GR WDPSR UHWDQJXODU

$*25$ 92&È 32'( $*(1'$5 $ 68$ (175(*$ 3$5$ ',$ ( +25É5,2 '( 68$ &219(1,È1&,$ &2168/7( 2 9$/25 '$ 7$;$ &20 80 '( 126626 9(1'('25(6

$FHUWH QD HVFROKD H DJUDGH VHPSUH 'LVSRQtYHO QRV YDORUHV GH 5 5 5 H 5

ZZZ EHPRO FRP EU

6HUYLoRV H SURGXWRV GLVSRQtYHLV YLD LQWHUQHW K

+25É5,26 (67(1','26

)XQFLRQDPRV DRV GRPLQJRV H IHULDGRV SDUD VXD PDLRU FRQYHQLrQFLD

&2035( ( +$%,/,7( 6(8 &(/8/$5

7RGDV DV RSHUDGRUDV QD %HPRO 6HX DSDUHOKR KDELOLWDGR QD KRUD GD FRPSUD

606 %(02/

&OLHQWH %HPRO UHFHEH WRUSHGRV VREUH FRPSUDV UHDOL]DGDV HQWUHJDV H OHPEUHWH GH YHQFLPHQWR


2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248( 1mR MRJXH HVWH HQFDUWH HP YLD S~EOLFD

(035(6$ 5(63216É9(/

621(*$5 e &5,0( 2 FLGDGmR FRQVFLHQWH H[LJH 1RWD )LVFDO QDV VXDV FRPSUDV SRLV VDEH TXH R (VWDGR GHSHQGH GD DUUHFDGDomR SDUD PHOKRUDU D VD~GH D HGXFDomR H D VHJXUDQoD (P D %HPRO IRL SHOR Û DQR FRQVHFXWLYR D HPSUHVD FRPHUFLDO TXH PDLV ,&06 DUUHFDGRX SDUD R (VWDGR GR $PD]RQDV

&(57,),&$d®2 ,62

$WHQGLPHQWR H VHUYLoRV FRP D FHUWL¿ FDomR GH TXDOLGDGH ,62

9$5,('$'( '( 352'8726

0DLV GH PLO LWHQV *DUDQWLD GH TXDOLGDGH H YDULHGDGH GHQWUR GR VHX RUoDPHQWR

%(02/ $0$=21$6 6+233,1* %(02/ $9(1,'$ %(02/ %$55262 %(02/ &$0$38­ %(02/ &,'$'( 129$ %(02/ ('8&$1'26 %(02/ *5$1'( &,5&8/$5 %(02/ ,7$&2$7,$5$ %(02/ 0$1$8$5$ 6+233,1* %(02/ 0$75,= %(02/ 0,//(11,80 %(02/ 3217$ 1(*5$ %(02/ 32572 9(/+2 &(1752 %(02/ 32572 9(/+2 6+233,1* %(02/ 678',2 %(02/ 72548$72 %(02/ 0$1$&$3858 /2-$ &20

'LVTXH JUiWLV )DOH FRQRVFR H HVFODUHoD VXDV G~YLGDV

ZZZ EHPRO FRP EU

/2-$ &20 &$,;$ (/(75Ñ1,&2 %5$'(6&2

/2-$ &20 *8,&+È '$ &$,;$

/LPLWH PtQLPR SDUD YHQGD D FUpGLWR 5 &DUWmR %HPRO (P FRPSUDV DWp 5 FOLHQWH FRP R &DUWmR %HPRO SRGHUi FRPSUDU VHP HQWUDGD H VHP MXURV H SDUFHODU HP DWp YH]HV SDUD GLDV GHVGH TXH HVWHMD FRP VHX OLPLWH GLVSRQtYHO -XURV 'HVSHVDV 2SHUDomR GH &UpGLWR 3DUD 3DUFHODV ,JXDLV $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ -XURV GH 0RUD DR PrV D SDUWLU GR GLD 0XOWD GH 0RUD D SDUWLU GR GLD 26 3/$126 '( 3$*$0(172 $35(6(17$'26 (67­2 68-(,726 $ $3529$d­2 '( &5e',72 &21)250( &5,7e5,26 87,/,=$'26 3(/$ %(02/

$ 68$ 0(/+25 (6&2/+$


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.