0,66ž2 (035(6$5,$/
02¢$0%,48( D GH 0DLR
> ʹ ąŵĂƌĂ ŐƌşĐŽůĂ >ƵƐſĨŽŶĂ ĞƐƚĄ Ă ŽƌŐĂŶŝnjĂƌ ƵŵĂ DŝƐƐĆŽ ŵƉƌĞƐĂƌŝĂů Ă DŽĕĂŵďŝƋƵĞ ăƐ WƌŽǀşŶĐŝĂƐ ĚĞ EĂŵƉƵůĂ Ğ ĚĞ ĂďŽ ĞůŐĂĚŽ͕ ŶŽ ąŵďŝƚŽ ĚŽ ƐĞƵ WƌŽŐƌĂŵĂ ĚĞ /ŶƚĞƌŶĂĐŝŽŶĂůŝnjĂĕĆŽ ĚŽ ^ĞĐƚŽƌ ĚŽ ŐƌŽŶĞŐſĐŝŽ͕ ŝŶŝĐŝĂƟǀĂ ĐŽŵƉĂƌƟĐŝƉĂĚĂ ƉĂƌĐŝĂůŵĞŶƚĞ ƉĞůĂ hŶŝĆŽ ƵƌŽƉĞŝĂ ʹ WŽƌƚƵŐĂů ϮϬϮϬ Ğ ŽŵƉĞƚĞ ϮϬϮϬ͘ ŐƌĂŶĚĞ ĚŝŶĂŵŝnjĂĕĆŽ ĂĐƚƵĂů ĚŽ ŽƌƌĞĚŽƌ ĚĞ EĂĐĂůĂ ƋƵĞ ĂďƌĂŶŐĞ Ă WƌŽǀşŶĐŝĂƐ ĚĞ EĂŵƉƵůĂ͕ EŝĂƐƐĂ͕ ĂďŽ ĞůŐĂĚŽ͕ ĂŵďĠnjŝĂ Ğ dĞƚĞ ƚĞŵ ƉŽƚĞŶĐŝĂĚŽ ĨĂǀŽƌĄǀĞŝƐ ŝŶǀĞƐƟŵĞŶƚŽƐ ĂŐƌşĐŽůĂƐ͕ ƉƌŽƉŽƌĐŝŽŶĂŶĚŽͲƐĞ Ž ĞƐƚĂďĞůĞĐŝŵĞŶƚŽ ĚĞ Ƶŵ ĐƌĞƐĐĞŶƚĞ ŝŶǀĞƐƟŵĞŶƚŽ ĞƐƚƌĂŶŐĞŝƌŽ ŶŽ ƐĞĐƚŽƌ ĂŐƌŽͲ ĂůŝŵĞŶƚĂƌ͘ Ɛ ƉƌŽǀşŶĐŝĂƐ ƋƵĞ ĞƐƚĆŽ ƐŽď Ă ŝŶŇƵġŶĐŝĂ ĚŽ ŽƌƌĞĚŽƌ ĚĞ EĂĐĂůĂ ďĞŶĞĮĐŝĂŵ ĚĞ ĞdžĐĞƉĐŝŽŶĂŝƐ ĐŽŶĚŝĕƁĞƐ ĂŐƌŽͲĞĐŽůſŐŝĐĂƐ Ğ ůŽŐşƐƟĐĂƐ ;ůŝŶŚĂͲ ĨĠƌƌĞĂ ĚĞ ϵϭϮ Ŭŵ ƋƵĞ ĐƌƵnjĂ Ž ŽƌƌĞĚŽƌ ĚĞ EĂĐĂůĂ ĞŶƚƌĞ Ž ŝŶƚĞƌůĂŶĚ Ğ Ž WŽƌƚŽ ĚĞ EĂĐĂůĂͿ͘ DŽĕĂŵďŝƋƵĞ ƚĞŵ ĞĨĞĐƚƵĂĚŽ ǀĂƌŝĂĚŽƐ ŝŶǀĞƐƟŵĞŶƚŽƐ ŶĂ ŝŶĚƷƐƚƌŝĂ ĚĂ ĞdžƉůŽƌĂĕĆŽ Ğ ƉƌŽĚƵĕĆŽ ĚĞ ŐĄƐ͘ WŽƐƐƵŝ ƌĞƐĞƌǀĂƐ ĞƐƟŵĂĚĂƐ ĚĞ ŐĄƐ ŶĂƚƵƌĂů ƐƵĮĐŝĞŶƚĞƐ ƉĂƌĂ ĂďĂƐƚĞĐĞƌ Ă ůĞŵĂŶŚĂ Ğ Ă &ƌĂŶĕĂ ĚƵƌĂŶƚĞ ϮϬ ĂŶŽƐ͕ Ž ƋƵĞ ƚĞŵ ĂĐĞůĞƌĂĚŽ Ž ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ĚĂ ƌĞŐŝĆŽ͘ 'ƌĂŶĚĞƐ ĞŵƉƌĞƐĂƐ ƚġŵ ŝŶǀĞƐƟĚŽ Ğŵ ĂĐƟǀŝĚĂĚĞƐ ĚĞ ƉĞƐƋƵŝƐĂ ĚĞ ƉĞƚƌſůĞŽ Ğ ŐĄƐ Ğŵ ǀĄƌŝĂƐ ƌĞŐŝƁĞƐ͕ ĐŽŵ ĚĞƐƚĂƋƵĞ ƉĂƌĂ Ă ĂĐŝĂ ĚŽ ZŽǀƵŵĂ͕ WƌŽǀşŶĐŝĂ ĚĞ ĂďŽ ĞůŐĂĚŽ͘ ƐƚĂ ƉƌŽǀşŶĐŝĂ͕ ĚĞ ƋƵĞ WĞŵďĂ Ġ ĐĂƉŝƚĂů͕ ƚĞŵ ƉĞƌŵŝƟĚŽ ĂŽ ŝŶǀĞƐƟĚŽƌĞƐ Ğ ĞŵƉƌĞƐĄƌŝŽƐ ĞŶĨƌĞŶƚĂƌĞŵ ĚĞƐĂĮŽƐ ĚĞ ŐƌĂŶĚĞ ǀƵůƚŽ͕ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ Ă ĚŝŵĞŶƐĆŽ ĚŽƐ ƐĞƵƐ ƌĞĐƵƌƐŽƐ ŶĂƚƵƌĂŝƐ Ğ ĞŶĚſŐĞŶŽƐ͘ Žŵ ĞĨĞŝƚŽ͕ ŶĆŽ Ġ ĂƉĞŶĂƐ ŶĂ ĄƌĞĂ ĚŽ ƐĞĐƚŽƌ ĞŶĞƌŐĠƟĐŽ ƋƵĞ ƐĞ ĂďƌĞŵ ŽƉŽƌƚƵŶŝĚĂĚĞƐ ƉĂƌĂ ĂƐ ĞŵƉƌĞƐĂƐ ƉŽƌƚƵŐƵĞƐĂƐ͕ ĐŽŵŽ Ġ Ž ĐĂƐŽ ĚŽƐ ƐĞĐƚŽƌĞƐ ĚĂ ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů͕ ĚĂ ŵĞƚĂůŽŵĞĐąŶŝĐĂ Ğ ĚŽ ĂŐƌŽͲĂůŝŵĞŶƚĂƌ ƋƵĞ ŝƌĆŽ ƌĞŐŝƐƚĂƌ Ƶŵ ĐƌĞƐĐŝŵĞŶƚŽ ĂĐĞůĞƌĂĚŽ ă ŵĞĚŝĚĂ ƋƵĞ WĞŵďĂ ƐĞ ĨŽƌ ĚĞƐĞŶǀŽůǀĞŶĚŽ͘ džŝƐƚĞŵ ŽƵƚƌŽƐ ƉƌŽũĞĐƚŽƐ ĚĞ ŽƵƚƌĂƐ ĄƌĞĂƐ ĐŽŵŽ Ă ĞdžƉůŽƌĂĕĂŽ ĚĞ ŐƌĂĮƚĞ͕ Ă ĂŐƌŝĐƵůƚƵƌĂ Ğ ĂůŐƵŶƐ ƉƌŽũĞĐƚŽƐ ƚƵƌşƐƟĐŽƐ ƋƵĞ ĂƉĞƐĂƌ ĚĞ ƐĞƌĞŵ ŝŶĚĞƉĞŶĚĞŶƚĞƐ ĚŽƐ ƉƌŽũĞƚŽƐ ĚŽ ƐĞƚŽƌ ĞŶĞƌŐĠƟĐŽ͕ ƚġŵ ǀŝŶĚŽ Ă ƐƵƌŐŝƌ Ğŵ ƌĞƐƵůƚĂĚŽ ĞdžƉĞĐƚĂƟǀĂ ĚŽ ƐĞƵ ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ĚŽ ŶĞŐŽĐŝŽ ĐŽŵŽ Ž ĐĂƐŽ ĚĞ ĞŵƉƌĞƐĂƐ ĚĞ ůŽŐşƐƟĐĂ͕ ĞŵƉƌĞƐĂƐ ĚĞ ĐĂƚĞƌŝŶŐ͕ ĞŵƉƌĞƐĂƐ ĚĞ ĐŽŶƐƚƌƵĕĆŽ ĂŽ Đŝǀŝů Ğ ĞŵƉƌĞƐĂƐ ĚĞ ŵĂƋƵŝŶĂƌŝĂ͘ K WŽƌƚŽ ĚĞ WĞŵďĂ ĐŽŶƐƟƚƵŝ ƵŵĂ ƉŽƌƚĂ ĚĞ ƐĂşĚĂ ƉĂƌĂ ŽƐ ƉƌŽĚƵƚŽƐ ƚƌĂĚŝĐŝŽŶĂŝƐ ĚĂ ƌĞŐŝĆŽ͕ ĐŽŵŽ Ă ŵĂĚĞŝƌĂ͕ Ž ĂůŐŽĚĆŽ Ğ Ă ĐĂƐƚĂŶŚĂ ĚĞ ĐĂũƵ͕ ĂĐƚƵĂůŵĞŶƚĞ ĞƐƚĞ ĞƐƚĄ Ğŵ ĨĂƐĞ ĚĞ ĞdžƉĂŶƐĆŽ Ğ ŵŽĚĞƌŶŝnjĂĕĆŽ ƚĞŶĚŽ ƉĂƌĂ ƚĂů Ƶŵ ŵĞŐĂ ŝŶǀĞƐƟŵĞŶƚŽ ŶŝŐĞƌŝĂŶŽ͘ WĞŵďĂ ĞŶĨƌĞŶƚĂ ŚŽũĞ Ğŵ ĚŝĂ ǀĂƌŝĂĚŽƐ ĚĞƐĂĮŽƐ ƋƵĞ ĚŝnjĞŵ ƐŽďƌĞƚƵĚŽ ƌĞƐƉĞŝƚŽ ă ĐŽŶƐƚƌƵĕĆŽ ĚĂƐ ŝŶĨƌĂͲĞƐƚƌƵƚƵƌĂƐ ŶĞĐĞƐƐĄƌŝĂƐ ƉĂƌĂ Ž ĂĐŽŵƉĂŶŚĂŵĞŶƚŽ ĚĞ ĞůĞǀĂĚĂƐ ĚŝŵĞŶƐƁĞƐ Ğŵ ĐƵƌƐŽ ŶĂ ƌĞŐŝĆŽ͘ ŵ ǀŝƌƚƵĚĞ ĚŽ ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ƐŽĐŝŽĞĐŽŶſŵŝĐŽ ƌĞŐŝƐƚĂĚŽ ŶĂ WƌŽǀşŶĐŝĂ ĚĞ ĂďŽ ĞůŐĂĚŽ͕ Ž ĂĞƌŽƉŽƌƚŽ ĨŽŝ ƌĞĂďŝůŝƚĂĚŽ Ğŵ ϮϬϭϰ Ğ ĞƐƚĞ ĞŶĐŽŶƚƌĂͲƐĞ ůŽĐĂůŝnjĂĚŽ ŶĂ ƌĞŐŝĆŽ ƋƵĞ ƐĞ ĞƐƚĞŶĚĞ ĚŽ ĐƌƵnjĂŵĞŶƚŽ ĚĞ DƵůĂƉĂŶĞ Ă EĂĐĂƌĂŵƵͬEĂŶůŝĂ͕ ĚŝƐƚƌŝƚŽ ĚĞ DĞƚƵŐĞ͕ Ă Ϯϱ ƋƵŝůſŵĞƚƌŽƐ ĚŽ ĐĞŶƚƌŽ ĚĂ ĐĂƉŝƚĂů ƉƌŽǀŝŶĐŝĂů͘ ŝŶƚĞŐƌĂĕĆŽ ŶĞƐƚĂ ŵŝƐƐĆŽ ĞŵƉƌĞƐĂƌŝĂů Ġ ƵŵĂ ŽƉŽƌƚƵŶŝĚĂĚĞ ƷŶŝĐĂ ƉĂƌĂ ƉŽƚĞŶĐŝĂƌ Ă ĐƌŝĂĕĆŽ ĚĞ ƉĂƌĐĞƌŝĂƐ ĐŽŵĞƌĐŝĂŝƐ Ğ ŝŶĚƵƐƚƌŝĂŝƐ ŶŽ ƐĞĐƚŽƌ ĂŐƌŽͲ ĂůŝŵĞŶƚĂƌ Ğ ŐŽǀĞƌŶĂŵĞŶƚĂŝƐ Ğŵ ƉƌŽǀşŶĐŝĂƐ ĐĂƌĂĐƚĞƌŝnjĂĚĂƐ ƉŽƌ ƉŽƐƐƵşƌĞŵ Ƶŵ ĞůĞǀĂĚŽ ƉŽƚĞŶĐŝĂů ĚĞ ĐƌĞƐĐŝŵĞŶƚŽ Ğ ƵŵĂ ĂŐƌŝĐƵůƚƵƌĂ ĚĞ ƐƵďƐŝƐƚġŶĐŝĂ ĚĞ ƉĞƋƵĞŶĂ ĞƐĐĂůĂ͕ ƋƵĞ ƚĞŵ ƌĞĐĞďŝĚŽ ƵůƟŵĂŵĞŶƚĞ ŝŶǀĞƐƟŵĞŶƚŽƐ ĚŝŵĞŶƐĆŽ ŶŽ ƐĞĐƚŽƌ ĂŐƌŽͲĂůŝŵĞŶƚĂƌ Ğ ŝŶĚƵƐƚƌŝĂů͘ EĆŽ ƉĞƌĐĂ ĞƐƚĂ ĞdžĐĞůĞŶƚĞ ŽƉŽƌƚƵŶŝĚĂĚĞ͊ >Ͳ ąŵĂƌĂ ŐƌşĐŽůĂ >ƵƐſĨŽŶĂ ĚŝƐƉƁĞ ĚĞ ƵŵĂ ŶĞƚǁŽƌŬ ŶŽ ĞƐƉĂĕŽ ĚĂ W>W ; ŽŵƵŶŝĚĂĚĞ ĚŽƐ WĂşƐĞƐ ĚĂ >şŶŐƵĂ WŽƌƚƵŐƵĞƐĂͿ ƋƵĞ ůŚĞ ƉŽĚĞƌĄ ƉƌŽƉŽƌĐŝŽŶĂƌ ĂƉŽŝŽƐ ƷŶŝĐŽƐ ŶĂ ƐƵĂ ĄƌĞĂ ĞŵƉƌĞƐĂƌŝĂů͘ :ƵŶƚŽƐ ǀĂŵŽƐ ŵĂŝƐ ůŽŶŐĞ͊
0LVV¾R (PSUHVDULDO 02¢$0%,48(
'$'26 (&21®0,&26 ( 62&,$,6 '( 02¢$0%,48( &DSLWDO 0DSXWR PLOKÐHV GH KDELWDQWHV
2XWUDV FLGDGHV LPSRUWDQWHV 1DPSXOD PLO KDELWDQWHV %HLUD PLO KDELWDQWHV &KLPRLR PLO KDELWDQWHV 1DFDOD PLO KDELWDQWHV 4XHOLPDQH PLO KDELWDQWHV 7HWH PLO KDELWDQWHV H 3HPED PLO KDELWDQWHV
8QLGDGH PRQHW¼ULD 0HWLFDO 0=1
3,% 3UHÂRV &RUUHQWHV 0LO PLOKÐHV (85
WƌŽĚƵƚŽƐ ŐƌşĐŽůĂƐ͗ ĐĂŶĂͲĚĞͲĂĕƷĐĂƌ͕ ĂůŐŽĚĆŽ͕ ĐĂƐƚĂŶŚĂͲĚĞͲĐĂũƵ͕ ƚĂďĂĐŽ Ğ ƐĠƐĂŵŽ͘
WZKs1E / E DWh>
WZKs1E / K >' K
ĂƉŝƚĂů͗ ŝĚĂĚĞ ĚĞ EĂŵƉƵůĂ
ĂƉŝƚĂů͗ WĞŵďĂ
ZĞŐŝĆŽ͗ EŽƌƚĞ
ZĞŐŝĆŽ͗ EŽƌƚĞ
WŽƉƵůĂĕĆŽ͗ ϰ͕ϴ ŵŝůŚƁĞƐ ŚĂďŝƚĂŶƚĞƐ ;ϮϬϭϯͿ
WŽƉƵůĂĕĆŽ͗ ϭ͕ϴ ŵŝůŚƁĞƐ ŚĂďŝƚĂŶƚĞƐ ;ϮϬϭϯͿ
ƌĞĂ͗ ϳϵ͘ϬϭϬ ŬŵϮ
ƌĞĂ͗ ϳϴ͘ϳϳϴ ŬŵϮ
YƵĂŶƟĚĂĚĞ ĚĞ ĚŝƐƚƌŝƚŽƐ͗ Ϯϯ
YƵĂŶƟĚĂĚĞ ĚĞ ĚŝƐƚƌŝƚŽƐ͗ ϭϳ
WƌŝŶĐŝƉĂů ƟǀŝĚĂĚĞ ĐŽŶſŵŝĐĂ͗ ŐƌŝĐƵůƚƵƌĂ ;ĨƵŶĚĂŵĞŶƚĂůŵĞŶƚĞ ƉĞůŽ ƐĞƚŽƌ ĨĂŵŝůŝĂƌͿ
WƌŝŶĐŝƉĂů ƟǀŝĚĂĚĞ ĐŽŶſŵŝĐĂ͗ ŐƌŝĐƵůƚƵƌĂ ĚĞ ƐƵďƐŝƐƚġŶĐŝĂ Ğ ƉĞƐĐĂ ĂƌƚĞƐĂŶĂů
0LVV¾R (PSUHVDULDO 02¢$0%,48(
(QTXDGUDPHQWR /RFDO 0RoDPELTXH p XP SDtV TXH WHP Y H U L ¿ F D G R X P D X P H Q W R G D V X D DFWLYLGDGH HFRQyPLFD (VWH IDFWRU DVVRFLDGR j VXD HQRUPH GHSHQGrQFLD SRU UHFXUVRV H[WHUQRV FRQWULEXL SDUD X P D H [ F H O H Q W H R S R U W X Q L G D G H G H LQYHVWLPHQWR HPSUHVDULDO 2 VHFWRU DJUtFROD PRoDPELFDQR QD VXD PDLRULD p FDUDFWHUL]DGR SRU XPD DJULFXOWXUD GH VXEVLVWrQFLD GH SHTXHQD HVFDOD GH VHFWRU IDPLOLDU QHFHVVLWDQGR GH LQIUD HVWUXWXUDV UHGHV FRPHUFLDLV H QtYHLV GH LQYHVWLPHQWRV DGHTXDGRV 2 VHFWRU LQGXVWULDO QmR SRVVXL XP GHVHQYROYLPHQWR VXEVWDQFLDO VHQGR DV SHTXHQDV LQG~VWULDV GH PRDJHP H IDEULFR GH yOHRV DOLPHQWDUHV DV PDLV
SUHGRPLQDQWHV $ UHJLmR GH 0RoDPELTXH TXH WHP PDLRU SRWHQFLDO DJUtFROD p DTXHOD TXH HQJORED DV 3URYtQFLDV GH &DER 'HOJDGR H GH 1DPSXOD FRQFHQWUDQGR DSUR[L PDGDPHQWH GRLV WHUoRV GD SURGXomR QDFLRQDO GHYLGR j SUHGRPLQkQFLD GH ]RQDV GH DOWLWXGH PpGLD H XP PHQRU ULVFR GH VHFD 1HVWDV SURYtQFLDV DV SULQFLSDLV FXOWXUDV VmR R PLOKR D PDSLUD D PDQGLRFD R DUUR] H[FOXVLYR GDV ]RQDV FRVWHLUDV R DOJRGmR QDV ]RQDV DOWDV DVVLP FRPR R DPHQGRLP R FKi H R WDEDFR 1DV ]RQDV OLWRUDLV SUHGRPLQD R FDMX VHQGR HVWDV DV ]RQDV RQGH VH YHUL¿FDP PDLRUHV SURGXo}HV
$ 0LVVmR (PSUHVDULDO D GHFRUUHU QD &LGDGH GH 1DPSXOD H HP 3HPED SRVVLELOLWDUi jV HPSUHVDV SDUWLFLSDQWHV R DFHVVR D XPD YDULHGDGH GH RSRUWXQLGDGHV QRV VHFWRUHV DJUR DOLPHQWDU H DJUR LQGXVWULDO ' X U D Q W H D 0 L V V m R ( P S U H V D U L D O R V SDUWLFLSDQWHV HVWDUmR HQYROYLGRV HP YDULDGDV DFWLYLGDGHV QRPHDGDPHQWH YLVLWDV D HPSUHVDV ORFDLV H R HVWDEHOHFLPHQWR GH FRQWDFWRV FRP HPSUHViULRV ORFDLV H FRP HQWLGDGHV JRYHUQDPHQWDLV $ &$/ EHQH¿FLDUi GR DSRLR GR &(3$*5, &HQWUR GH 3URPRomR GD $JULFXOWXUD ± 0LQLVWpULR GD $JULFXOWXUD GH 0RoDPELTXH H GD )587,68/ $VVRFLDomR GRV )UXWLFXOWRUHV GR 6XO GH 0RoDPELTXH H GD )(1$*5, )HGHUDomR 1DFLRQDO GDV $VVRFLDo}HV $JUtFRODV DVVLP FRPR GD 'HOHJDomR GD &$/ QD UHJLmR 1RUWH GH 0RoDPELTXH SDUD D FRQFUHWL]DomR GHVWD 0LVVmR
WZK'Z D D/^^ K DWZ ^ Z/ > DK D /Yh
ŝĂ ϴ ĚĞ DĂŝŽ ; ŽŵŝŶŐŽͿ ϭϵŚϭϬ
WĂƌƟĚĂ >ŝƐďŽĂ Ͳ DĂƉƵƚŽ
ŝĂ ϵ ĚĞ DĂŝŽ ;^ĞŐƵŶĚĂͲĨĞŝƌĂͿ ϬϲŚϱϬ
ŚĞŐĂĚĂ Ă DĂƉƵƚŽ
ϭϬŚϯϬ
sŽŽ DĂƉƵƚŽ Ͳ WĞŵďĂ
ϭϯŚϬϬ
ŚĞŐĂĚĂ Ă WĞŵďĂ
ϭϯŚϯϬ
ZĞĐĞĕĆŽ ĚĞ ďŽĂƐͲǀŝŶĚĂƐ ŶŽ <ĂƵƌŝ ZĞƐŽƌƚ ƉĞůŽ WƌĞƐŝĚĞŶƚĞ ĚĂ > ʹ ąŵĂƌĂ ŐƌşĐŽůĂ >ƵƐſĨŽŶĂ͕ :ŽƌŐĞ ^ĂŶƚŽƐ Ğ ĞŶƚƌĞŐĂ ĚĞ ĚŽĐƵŵĞŶƚĂĕĆŽ
ϭϰŚϬϬ
ůŵŽĕŽ
ϭϱŚϬϬ
ƵĚŝġŶĐŝĂ ĐŽŵ Ă 'ŽǀĞƌŶĂĚŽƌĂ ĚĂ WƌŽǀşŶĐŝĂ ĚĞ ĂďŽ ĞůŐĂĚŽ͕ ĞůŵŝƌĂ ^ŝůǀĂ
ϭϲŚϬϬ
ŶĐŽŶƚƌŽ ĚĞ ƚƌĂďĂůŚŽ ĐŽŵ ŽƐ ŝŶƚĞƌǀĞŶŝĞŶƚĞƐ ĚŽ ^ĞŵŝŶĄƌŝŽ ĚŽ ĚŝĂ ϭϬ ĚĞ DĂŝŽ
ŝĂ ϭϬ ĚĞ DĂŝŽ ;dĞƌĕĂ ͲĨĞŝƌĂͿ Ͳ WĞŵďĂ ϬϳŚϰϱ
^ĞŵŝŶĄƌŝŽ ŽŶƚĂĐƚ Ͳ ŐƌŽŶĞŐſĐŝŽƐ Ğŵ WĞŵďĂ
ϬϴŚϯϬ
ŚĞŐĂĚĂ ĂŽ >ŽĐĂů Ͳ ^ĂůĂ ĚĞ ŽŶĨĞƌġŶĐŝĂƐ ĚŽ <ĂƵƌŝ ZĞƐŽƌƚ ^ĞƐƐĆŽ ĚĞ ďĞƌƚƵƌĂ & E 'Z/ Ͳ &ĞĚĞƌĂĕĆŽ EĂĐŝŽŶĂů ĚĂƐ ƐƐŽĐŝĂĕƁĞƐ ŐƌĄƌŝĂƐ ĚĞ DŽĕĂŵďŝƋƵĞ͕ :ƵůŝŶĂ ,ĂƌĐƵůĞƩĞ > Ͳ ąŵĂƌĂ ŐƌşĐŽůĂ >ƵƐſĨŽŶĂ͕ :ŽƌŐĞ ŽƌƌĞŝĂ ^ĂŶƚŽƐ ZĞƉƌĞƐĞŶƚĂŶƚĞ ĚŽ 'ŽǀĞƌŶŽ WƌŽǀŝŶĐŝĂů ĚĞ WĞŵďĂ͕ &ĄƟŵĂ DŝůŝƐƐĆŽ /ŶƚĞƌǀĞŶĕĆŽ ĚŽ ZĞƉƌĞƐĞŶƚĂŶƚĞ ĚŽ 'ŽǀĞƌŶŽ WƌŽǀŝŶĐŝĂů ĚĞ WĞŵďĂ͕ &ĄƟŵĂ DŝůŝƐƐĆŽ
ϬϴŚϰϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚĂ ŝƌĞĕĆŽ WƌŽǀŝŶĐŝĂů ĚĞ ŐƌŝĐƵůƚƵƌĂ Ğ ^ĞŐƵƌĂŶĕĂ ůŝŵĞŶƚĂƌ͕ DĂƌŝĂŶŽ ĂĞƚĂŶŽ :ŽŶĞ
ϬϵŚϬϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚĂ ĞůĞŐĂĚĂ WƌŽǀŝŶĐŝĂů W/ Ͳ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ Ğŵ ĂďŽ ĞůŐĂĚŽ͕ sŝĐƚŽƌŝĂ WĂƵůŽ
ϬϵŚϮϬ
/ŶƚĞƌǀĞŶĕĆŽ ĚŽ WƌĞƐŝĚĞŶƚĞ ĚŽ ŽŶĐĞůŚŽ WƌŽǀŝŶĐŝĂů ĚĂ KƌĚĞŵ ĚŽƐ ĚǀŽŐĂĚŽƐ͕ :ĞƌſŶŝŵŽ DƵƐƐŝƌŝĐĂ
ϬϵŚϯϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚŽ WƌĞƐŝĚĞŶƚĞ ĚŽ ŽŶƐĞůŚŽ ŵƉƌĞƐĂƌŝĂů WƌŽǀŝŶĐŝĂů ĚĞ ĂďŽ ĞůŐĂĚŽ͕ ďĚƵů >ĂƟĨŽ
ϬϵŚϱϬ
/ŶƚĞƌǀĞŶĕĆŽ ĚĂ ŝƌĞĕĆŽ ŽŵĞƌĐŝĂů ĚŽ / ʹ ĂŶĐŽ ŽŵĞƌĐŝĂů Ğ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ͕ 'ĞƌſŶŝŵŽ ĞƌŶĂƌĚŽ DĂƐƐŽůŽŶŐĂ
ϬϴŚϬϬ
ϭϬŚϭϱ /ŶƚĞƌǀĂůŽ ƉĂƌĂ ĐĂĨĠ ^ĞƐƐĆŽ ĚĞ ƚƌĂďĂůŚŽ ϭϬŚϯϬ Ͳ ĂŶĐŽ / ʹ ͞K DĞƌĐĂĚŽ ĚĞ WĞŵďĂ ƉĂƌĂ ĂƐ WD ͛Ɛ WŽƌƚƵŐƵĞƐĂƐ͟Ͳ 'ĞƌſŶŝŵŽ DĂƐƐŽůŽŶŐĂ͕ ŝƌĞƚŽƌ ŽŵĞƌĐŝĂů / Ͳ ŽŶƐĞůŚŽ ŵƉƌĞƐĂƌŝĂů WƌŽǀŝŶĐŝĂů ĚĞ ĂďŽ ĞůŐĂĚŽ ͞KƉŽƌƚƵŶŝĚĂĚĞƐ ĚĞ ŶĞŐſĐŝŽ ŶŽ ƐĞƚŽƌ ĂŐƌŽͲ ĂůŝŵĞŶƚĂƌ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ Ă ƉŽƐŝĕĆŽ ŐĞŽĞƐƚƌĂƚĠŐŝĐĂ ĚĞ WĞŵďĂ͟Ͳ ďĚƵů >ĂƟĨŽ͕ WƌĞƐŝĚĞŶƚĞ ĚŽ W Ͳ ĂďŽ ĞůŐĂĚŽ Ͳ W/ ʹ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ ʹ ͞sĂŶƚĂŐĞŶƐ͕ ĨĂĐŝůŝĚĂĚĞƐ Ğ ůĞŝ ĚĞ ŝŶǀĞƐƟŵĞŶƚŽ ĞƐƚƌĂŶŐĞŝƌŽ͟Ͳ sŝƚſƌŝĂ WĂƵůŽ͕ ĞůĞŐĂĚĂ WƌŽǀŝŶĐŝĂů ĚŽ W/ ĂďŽ ĞůŐĂĚŽ Ͳ ŽŶƐĞůŚŽ WƌŽǀŝŶĐŝĂů ĚĂ KƌĚĞŵ ĚŽƐ ĚǀŽŐĂĚŽƐ ʹ ͞KƉŽƌƚƵŶŝĚĂĚĞƐ Ğ ĐŽŶƐƚƌĂŶŐŝŵĞŶƚŽƐ ƉĂƌĂ ĂƐ WD ͛Ɛ ƉŽƌƚƵŐƵĞƐĂƐ͛͟ :ĞƌſŶŝŵŽ DƵƐƐŝƌŝĐĂ͕ WƌĞƐŝĚĞŶƚĞ ϭϭŚ͗ϯϬ ĞďĂƚĞ ʹ ĐŽŵ ƚŽĚŽƐ ŽƐ ŝŶƚĞƌǀĞŶŝĞŶƚĞƐ
ϭϮŚϭϬ
ZŽŶĚĂ ĚĞ EĞŐſĐŝŽƐ
ϭϮŚϯϬ
^ĞƐƐĆŽ ĚĞ ŶĐĞƌƌĂŵĞŶƚŽ ʹ > Ğ & E 'Z/
ϭϯŚϬϬ
ůŵŽĕŽ
ϭϰŚϬϬ
sŝƐŝƚĂ Ă ĞŵƉƌĞƐĂƐ ĚŽ ƐĞƚŽƌ ĂŐƌŽͲĂůŝŵĞŶƚĂƌ Ğ ĚĞ ƐĞƌǀŝĕŽƐ
ϭϰŚϭϱ
ZĞƵŶŝĆŽ ĐŽŵ / ʹ ĂŶĐŽ ŽŵĞƌĐŝĂů ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ͕ 'ĞƌſŶŝŵŽ DĂƐƐŽůŽŶŐĂ ; ŝƌĞĕĆŽ ŽŵĞƌĐŝĂů /Ϳ Ğ ĐŽŵ W/ ʹ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ͕ sŝƚſƌŝĂ WĂƵůŽ ; ĞůĞŐĂĚĂ WƌŽǀŝŶĐŝĂů W/ Ͳ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ Ğŵ ĂďŽ ĞůŐĂĚŽͿ
ϭϱŚϯϬ
sŝƐŝƚĂ ĂŽ WŽƌƚŽ ĚĞ WĞŵďĂ
ϭϲŚϯϬ
sŝƐŝƚĂ ă ĞŵƉƌĞƐĂ 'ƌĂƵ ĚĞ KƵƌŽ
ϭϳŚϭϱ
sŝƐŝƚĂ ă ĞŵƉƌĞƐĂ &ĂƌŝŶŚĂƐ DŝůĞŶĂ
ϭϴŚϬϬ
ZĞŐƌĞƐƐŽ ĂŽ <ĂƵƌŝ ZĞƐŽƌƚ
ŝĂ ϭϭ ĚĞ DĂŝŽ ;YƵĂƌƚĂͲĨĞŝƌĂͿ Ͳ WĞŵďĂ ϬϳŚϯϬ
ZĞƵŶŝĆŽ ĐŽŵ Ž ŝƌĞƚŽƌ 'ĞƌĂů ĚĞŵƉƌĞƐĂ /ŶǀĞƐƟŵĞŶƚŽƐ͕ dŝĂŐŽ &ŝůŝƉĞ
ϭϬŚϯϬ
sŝƐŝƚĂ ă ĞŵƉƌĞƐĂ WůĞdžƵƐ DŽĕĂŵďŝƋƵĞ
ϭϯŚϬϬ
ůŵŽĕŽ
ϭϱŚϯϬ
sŝƐŝƚĂ Ă Ƶŵ ƚƌĂŶƐŝƚĄƌŝŽ ůŽĐĂů
ϭϲŚϬϬ
sŝƐŝƚĂ Ă ƐƵƉĞƌİĐŝĞƐ ƌĞƚĂůŚŝƐƚĂƐ
ϭϲŚϯϬ
sŝƐŝƚĂ ă ĞŵƉƌĞƐĂ EĞůƐŽŶ 'ĂŵĞ
ϭϳŚϬϬ
ZĞƵŶŝĆŽ ĐŽŵ ĞƐƉĂĐŚĂŶƚĞ ĚƵĂŶĞŝƌŽ͕ ZƵŝ ŚĞůĞŶĞ
ϭϴŚϬϬ
ZĞŐƌĞƐƐŽ ĂŽ <ĂƵƌŝ ZĞƐŽƌƚ
ŝĂ ϭϮ ĚĞ DĂŝŽ ;YƵŝŶƚĂ &ĞŝƌĂͿ ʹ WĞŵďĂ ;ŵĂŶŚĆͿ Ğ EĂŵƉƵůĂ ;ƚĂƌĚĞͿ ϬϴŚϬϬ
ZĞƵŶŝĆŽ ĐŽŵ Ž WƌĞƐŝĚĞŶƚĞ ĚŽ ŽŶƐĞůŚŽ WƌŽǀŝŶĐŝĂů ĚĂ KƌĚĞŵ ĚŽƐ ĚǀŽŐĂĚŽƐͲ :ĞƌſŶŝŵŽ DƵƐƐŝƌŝĐĂ
ϬϵŚϬϬ
ZĞƵŶŝĆŽ ĐŽŵ ĂƐƐŽĐŝĂĕĆŽ ĂŐƌşĐŽůĂ ůŽĐĂů
ϭϬŚϬϬ
ZĞŐƌĞƐƐŽ ĂŽ <ĂƵƌŝ ZĞƐŽƌƚ
ϭϬŚϯϬ
ŚĞĐŬͲŽƵƚ ĚŽ ,ŽƚĞů
ϭϮŚϭϱ
sŽŽ WĞŵďĂ Ͳ EĂŵƉƵůĂ
ϭϯŚϭϱ
ŚĞŐĂĚĂ Ă EĂŵƉƵůĂ
ϭϯŚϰϱ
ŚĞĐŬͲŝŶ ZĞƐŝĚĞŶĐŝĂů WƌŝŵĂǀĞƌĂ
ϭϰŚϭϱ
ůŵŽĕŽ
ϭϱŚϬϬ
ƵĚŝġŶĐŝĂ ĐŽŵ Ž 'ŽǀĞƌŶĂĚŽƌ ĚĂ WƌŽǀşŶĐŝĂ ĚĞ EĂŵƉƵůĂ͕ sŝĐƚŽƌ DĂŶƵĞů ŽƌŐĞƐ
ϭϱŚϯϬ
ŶĐŽŶƚƌŽ ĚĞ ƚƌĂďĂůŚŽ ĐŽŵ ŽƐ ŝŶƚĞƌǀĞŶŝĞŶƚĞƐ ĚŽ ƐĞŵŝŶĄƌŝŽ ƉĂƌĂ Ž ĚŝĂ ϭϯ ĚĞ DĂŝŽ
ϭϲ,ϯϬ
ŶĐŽŶƚƌŽ ĐŽŵ ŽƐ ĂƐƐŽĐŝĂĚŽƐ ĚĂ > Ğŵ EĂŵƉƵůĂ
ϭϳŚϯϬ
ĂůĂŶĕŽ ĚĂƐ ĂƟǀŝĚĂĚĞƐ ƌĞĂůŝnjĂĚĂƐ
ŝĂ ϭϯ ĚĞ DĂŝŽ ;^ĞdžƚĂͲĨĞŝƌĂͲƉĞƌşŽĚŽ DĂŶŚĆͿ Ͳ EĂŵƉƵůĂ ϬϳŚϰϱ
^ĞŵŝŶĄƌŝŽ ŽŶƚĂĐƚ Ͳ ŐƌŽŶĞŐſĐŝŽƐ Ğŵ EĂŵƉƵůĂ
ŚĞŐĂĚĂ ĂŽ >ŽĐĂů ĚŽ ^ĞŵŝŶĄƌŝŽ ; ĞŶƚƌŽ ĚĞ ŽŶĨĞƌġŶĐŝĂƐ ŽƉĂ ĂďĂŶĂͿ
ϬϴŚϬϬ
^ĞƐƐĆŽ ĚĞ ďĞƌƚƵƌĂ
ϬϴŚϯϬ
& E 'Z/ Ͳ &ĞĚĞƌĂĕĆŽ EĂĐŝŽŶĂů ĚĂƐ ƐƐŽĐŝĂĕƁĞƐ ŐƌĂƌŝĂƐ ĚĞ DŽĕĂŵďŝƋƵĞ͕ :ƵůŝŶĂ ,ĂƌĐƵůĞƩĞ ąŵĂƌĂ ŐƌşĐŽůĂ >ƵƐſĨŽŶĂ͕ :ŽƌŐĞ ŽƌƌĞŝĂ ^ĂŶƚŽƐ ŚĞĨĞ ĚĞ 'ĂďŝŶĞƚĞ ĚŽ 'ŽǀĞƌŶŽ WƌŽǀŝŶĐŝĂů ĚĞ EĂŵƉƵůĂ͕ ŽŵŝŶŐŽƐ EĂĐŽŚŝ
ϬϴŚϰϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚĂ ŝƌĞĐĕĆŽ WƌŽǀŝŶĐŝĂů ĚĞ ŐƌŝĐƵůƚƵƌĂ Ğ ^ĞŐƵƌĂŶĕĂ ůŝŵĞŶƚĂƌ͕ WĞĚƌŽ njƵĐƵůĞ
ϬϵŚϬϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚĂ ŝƌĞĕĆŽ ĚŽ W/ ʹ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ͕ ŽŶŝĨĄĐŝŽ ^ĂƵůŽƐƐĞ
ϬϵŚϮϬ
/ŶƚĞƌǀĞŶĕĆŽ ĚŽ ŽŶƐĞůŚŽ WƌŽǀŝŶĐŝĂů ĚĂ KƌĚĞŵ ĚŽƐ ĚǀŽŐĂĚŽƐ͕ ,ĞƌŵşŶŝŽ dŽƌƌĞƐ Ͳ WƌĞƐŝĚĞŶƚĞ ĚŽ ŽŶĐĞůŚŽ WƌŽǀŝŶĐŝĂů ĚĞ EĂŵƉƵůĂ
ϬϵŚϯϱ
/ŶƚĞƌǀĞŶĕĆŽ ĚŽ W 'Z/ Ͳ ĞŶƚƌŽ ĚĞ WƌŽŵŽĕĆŽ ĚĂ ŐƌŝĐƵůƚƵƌĂ ĚĞ DŽĕĂŵďŝƋƵĞ͕ ŝƌĞƚŽƌĂ WƌŽǀŝŶĐŝĂů ŶĂ :ĂŵŝƐƐĞ
ϬϵŚϱϬ
/ŶƚĞƌǀĞŶĕĆŽ ĚŽ ZĞƉƌĞƐĞŶƚĂŶƚĞ ĚŽ / Ͳ ĂŶĐŽ ŽŵĞƌĐŝĂů ĚĞ /ŶǀĞƐƟŵĞŶƚŽƐ͕ ĄƌŝŽ &ĂƋƵŝƌͲ ŝƌĞĐƚŽƌ ŽŵĞƌĐŝĂů ZĞŐŝĆŽ EŽƌƚĞ
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CRITÉRIOS DE ELEGIBILIDADE DOS BENEFÍCIOS E PROMOTORES - Inscrito no balcão 2020; - PME ( Registo no IAPMEI ); - Dispor de contabilidade organizada; - Não ser uma empresa em dificuldade; - Não estar sujeita a uma injunção de recuperação; - Empresas sedeadas nas zonas Norte, Centro e Alentejo - Não ter salários em atraso; - Apresentar uma situação económico-financeira equilibrada; 1. São elegíveis PME’s – pequenas e médias empresas cuja actividade se enquadre na fileira do sector agro-alimentar, nomeadamente: indústria de alimentos compostos para animais, carnes transformadas, azeite, vinhos, queijos e outros derivados de leite, comércio de cereais, oleaginosas, hortofrutícolas, equipamentos agrícolas, entre outras.
MEIOS DE PAGAMENTO DA INSCRIÇÃO: a) Por cheque: O cheque original deverá ser enviado por correio para a seguinte morada da CAL: Av. Brasília apartado 12066 1050-214 Lisboa b) Por transferência bancária: IBAN : PT50 0046 0050 0060 0204 1939 5 BICSWIFT: CRBNPTPL Solicita-se o envio do comprova o de transferência bancária para geral@calusofona.org
PASSAPORTE Os potenciais interessados deverão munir-se de passaporte devidamente atualizado.
INFORMAÇÕES Tel: 213018426 | internacionalizacao@calusofona.org
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