Catalogo Run rate

*(;Í36.6 +, ,5;9,.( 054,+0(;( :@:;,4 ?

*ODSFNFOUB FM SFOEJNJFOUP EF UV FNQSFTB TJO EFTDVJEBS HBTUPT /VFTUSBT TPMVDJPOFT IBSÈO MB EJGFSFODJB

7VY \U WSHUL[H TmZ PU[LSPNLU[L

1SPQPSDJPOB VO SPCVTUP SFOEJNJFOUP B VO QSFDJP EF TFSWJEPS EF OJWFM CÈTJDP DPNQFUJUJWP 0GSFDF øFYJCJMJEBE FO VO EJTF×P DPNQBDUP PQUJNJ[BEP $PNCJOB öBCJMJEBE Z GBDJMJEBE EF JOTUBMBDJØO DPO VOB JOOPWBEPSB UFDOPMPHÓB EF HFTUJØO

? 4

?,65 , ./A * > 0)4 .) 05 2 :: :(;( /++

*HYHJ[LYxZ[PJHZ

Â&#x2039;:LY]PKVY KL [VYYL < Â&#x2039;7YVJLZHKVY KL ./a Â&#x2039; .) KL TLTVYPH PUJS\PKH Â&#x2039;+PZJV KL .) KL YLNHSV Â&#x2039;+=+ 9VT PUJS\PKV

7YLJPV! <:+ *VTWYH ` LS X\PU[V LZ NYH[PZ 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

1SPQPSDJPOB VO SFOEJNJFOUP EF QSÃ&#x2DC;YJNB HFOFSBDJÃ&#x2DC;O FO VO EJTFÃ&#x2014;P DPNQBDUP F JOOPWBEPS 0GSFDF VOB BNQMJB HBNB EF PQDJPOFT EF DPOöHVSBDJÃ&#x2DC;O Z øFYJCJMJEBE QBSB BENJUJS FM DSFDJNJFOUP EF GPSNB SFOUBCMF

4F CBTB FO MB FYQFSJFODJB FO TFSWJEPSFT EF *#. DPO GVODJPOFT EF QSPUFDDJÃ&#x2DC;O EF EBUPT Z HFTUJÃ&#x2DC;O EF TJTUFNBT JOUFHSBEBT

? 4

?,65 , ./A * 0)4 .) 05 2 :: :(;( /++

*HYHJ[LYxZ[PJHZ Â&#x2039; :LY]PKVY KL 9HJR < Â&#x2039;7YVJLZHKVY KL ./a Â&#x2039;4LTVYPH KL .) PUJS\PKH Â&#x2039;+PZJV KL .) KL YLNHSV

7YLJPV! <:+ *VTWYH ` LS J\HY[V LZ NYH[PZ 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

$POTJHB NBZPS SFOEJNJFOUP QPS WBUJP QBSB BVNFOUBS MB SFOUBCJMJEBE 4JNQMJöRVF MB HFTUJÃ&#x2DC;O Z FM NBOUFOJNJFOUP HSBDJBT B VO EJTFÃ&#x2014;P øFYJCMF .BOUFOHB MB EJTQPOJCJMJEBE Z SFEV[DB MPT SJFTHPT HSBDJBT B VOB BSRVJUFDUVSB SPCVTUB

? 4

?,65 * , >

*HYHJ[LYxZ[PJHZ

Â&#x2039; :LY]PKVY KL 9HJR Â&#x2039;7YVJLZHKVY KL ./a Â&#x2039;4LTVYPH KL .) PUJS\PKH Â&#x2039;<UPKHK 4\S[P I\UULY PUJS\PKH

7YLJPV! <:+

(WYV]LJOH LZ[L L_JLSLU[L WYLJPV 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

%JTFÃ&#x2014;P JOOPWBEPS PQUJNJ[BEP QBSB MPHSBS NFKPSFT SFTVMUBEPT Z SFEVDJS MPT DPTUPT DPNQBUJCMF DPO MBT BQMJDBDJPOFT WJUBMFT QBSB FM OFHPDJP Z MBT JNQMFNFOUBDJPOFT FO DMPVE

? 4

?,65 * , > ./A

'JBCJMJEBE EJTQPOJCJMJEBE Z GBDJMJEBE EF TFSWJDJP 3"4

FYDFMFOUFT Z VO UJFNQP EF BDUJWJEBE FYDFMFOUF QBSB MPHSBS VO FOUPSOP FNQSFTBSJBM NFKPSBEP

*HYHJ[LYxZ[PJHZ

'Ã&#x2C6;DJM EF JNQMFNFOUBS JOUFHSBS Z HFTUJPOBS

Â&#x2039;7YVJLZHKVY KL ./a Â&#x2039;

Â&#x2039;:LY]PKVY KL 9HJR Â&#x2039;4LTVYPH KL .) PUJS\PKH Â&#x2039;<UPKHK +=+ PUJS\PKHÂ&#x2039; Â&#x2039;+PZJV KL .) KL YLNHSV

7YLJPV! <:+ Ã&#x2DC;S[PTH NLULYHJP}U LU ZLY]PKVYLZ 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

"VNFOUF MB SFOUBCJMJEBE DPO NBZPS SFOEJNJFOUP QPS WBUJP 4JNQMJöRVF MB HFTUJÃ&#x2DC;O Z FM NBOUFOJNJFOUP HSBDJBT B VO EJTFÃ&#x2014;P øFYJCMF (FTUJPOF MPT SJFTHPT NFEJBOUF BSRVJUFDUVSBT SFTJTUFOUFT Z FOUPSOPT WJSUVBMJ[BEPT

? 4

?,65 * , > ./A

*HYHJ[LYxZ[PJHZ

Â&#x2039; 7YVJLZHKVY KL ./a Â&#x2039; 4LTVYPH KL .) PUJS\PKH Â&#x2039;<UPKHK 4\S[P I\UULY PUJS\PKH

7YLJPV! <:+

5V WPLYKHZ LZ[H NYHU VWVY[\UPKHK 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

%JTFร P JOOPWBEPS PQUJNJ[BEP QBSB MPHSBS NFKPSFT SFTVMUBEPT Z SFEVDJS MPT DPTUFT DPNQBUJCMF DPO MBT BQMJDBDJPOFT FNQSFTBSJBMFT Nร T JNQPSUBOUFT F JNQMFNFOUBDJPOFT EF DMPVE

? 4

&YDFMFOUFT DBSBDUFSร TUJDBT EF รถBCJMJEBE EJTQPOJCJMJEBE Z GBDJMJEBE EF NBOUFOJNJFOUP 3"4 Z FYUSBPSEJOBSJP UJFNQP EF BDUJWJEBE QBSB VO FOUPSOP FNQSFTBSJBM PQUJNJ[BEP

*HYHJ[LYxZ[PJHZ

'ร DJM EF JNQMFNFOUBS JOUFHSBS SFQBSBS Z HFTUJPOBS

?,65 * , > ./A

ย 7YVJLZHKVY KL ./a ZP_ JVYL ย 4LTVYPH KL .) PUJS\PKH ย <UPKHK T\S[PI\YULY PUJS\PKH

7YLJPV! <:+ 3V U\L]V ` WVKLYVZV LU LS TLYJHKV

6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

%JTFร P JOOPWBEPS PQUJNJ[BEP QBSB MPHSBS NFKPSFT SFTVMUBEPT Z SFEVDJS MPT DPTUFT DPNQBUJCMF DPO MBT BQMJDBDJPOFT FNQSFTBSJBMFT Nร T JNQPSUBOUFT F JNQMFNFOUBDJPOFT EF DMPVE

? 4

?,65 * , > ./A

&YDFMFOUFT DBSBDUFSร TUJDBT EF รถBCJMJEBE EJTQPOJCJMJEBE Z GBDJMJEBE EF NBOUFOJNJFOUP 3"4 Z FYUSBPSEJOBSJP UJFNQP EF BDUJWJEBE QBSB VO FOUPSOP FNQSFTBSJBM PQUJNJ[BEP

*HYHJ[LYxZ[PJHZ

'ร DJM EF JNQMFNFOUBS JOUFHSBS SFQBSBS Z HFTUJPOBS

ย 7YVJLZHKVY KL ./a ย

ย :LY]PKVY KL 9HJR 4LTVYPH KL .) PUJS\PKH ย <UPKHK T\S[PI\YULY PUJS\PKH

7YLJPV! <:+ 7VKLYVZH U\L]H NLULYHJP}U 6WJPVULZ KPZWVUPISLZ WHYH LZ[L ZLY]PKVY

*<(38<0,9 ,?0:;,5*0( ,: +, ,5;9,.( 054,+0(;(

LZ[HTVZ WHYH ZLY]PY[L 1VZt 0ZPQHYH ';PQ\HUH

*HYSVZ 4VYLUV '4L_PJHSP

+L Â&#x201A;S[PTV TVTLU[V WYVTVJPVULZ

*VU[HTVZ JVU [VKH LZ[H ]HYPLKHK KL ZVS\JPVULZ ` T\JOHZ TmZ ZP YLX\PLYLZ \U WLKPKV LU LZWLJPHS UV K\KLZ LU JVUZ\S[HYUVZ

HWYV]LJOHSH VMLY[H HU[LZ KL X\L ZL HJHILU

1VZt 0ZPQHYH ';PQ\HUH ZP[ZH'ZP[ZH IPa

1\HU *HYSVZ 4VYLUV '4L_PJHSP JTVYLUV'ZP[ZH IPa

+L Â&#x201A;S[PTV TVTLU[V WYVTVJPVULZ

*VU[HTVZ JVU [VKH LZ[H ]HYPLKHK KL ZVS\JPVULZ ` T\JOHZ TmZ ZP YLX\PLYLZ \U WLKPKV LU LZWLJPHS UV K\KLZ LU JVUZ\S[HYUVZ

HWYV]LJOH SH VMLY[H HU[LZ KL X\L ZL HJHILU

1VZt 0ZPQHYH ';PQ\HUH ZP[ZH'ZP[ZH IPa

1\HU *HYSVZ 4VYLUV '4L_PJHSP JTVYLUV'ZP[ZH IPa

0)4 :[VYHNL )\UKSL Â&#x2039;0)4 :`Z[LT :[VYHNL +: ,_WYLZZ +\HS *VU[YVSSLY :[VYHNL :`Z[LT Â&#x2039; .) PU 2 .I :(: /++ Â&#x2039;0)4 T :(: *HISL

>6> 3St

]H[L \U P7HK KL 9,.(36

7YLJPV! <:+

1VZt 0ZPQHYH ';PQ\HUH ZP[ZH'ZP[ZH IPa

*HYSVZ 4VYLUV '4L_PJHSP JTVYLUV'ZP[ZH IPa

0)4 :[VYHNL )\UKSL Â&#x2039;0)4 :`Z[LT :[VYHNL +: ,_WYLZZ +\HS *VU[YVSSLY :[VYHNL :`Z[LT Â&#x2039; .) PU 2 .I :(: /++ Â&#x2039;0)4 T :(: *HISL

>6> 3St

]H[L \U P7HK KL 9,.(36

7YLJPV! <:+

1VZt 0ZPQHYH ';PQ\HUH ZP[ZH'ZP[ZH IPa

*HYSVZ 4VYLUV '4L_PJHSP JTVYLUV'ZP[ZH IPa

:VS\JPVULZ WVY ZLWHYHKV Â&#x2039; .) PU 2 .I :(: /++ Â&#x2039;0)4 T :(: *HISL Â&#x2039; .) PU 2 .I :(: /++ Â&#x2039; 4 4PUP :(: 4PUP :(: _ *HISL Â&#x2039; .I -* 7VY[ +H\NO[LY *HYK Â&#x2039; .I -* :> :-7 ;YHUZJLP]LYZ 7HPY Â&#x2039; T 3* 3* -PILY *HISL Â&#x2039; T 3* 3* -PILY *HISL

0)4 :`Z[LT :[VYHNL +: ,_WYLZZ +\HS *VU[YVSSLY :[VYHNL :`Z[LT 0)4 :`Z[LT :[VYHNL +: ,_WYLZZ +* +\HS *VU[YVSSLY :[VYHNL :`Z[LT

,Z[HZ VWJPVULZ [L KHU \U P7HK KL YLNHSV

>PUKV^Z:LY]LY :[HUKHYK LKP[PVU

,Z[H LKPJP}U KL >PUKV^Z :LY]LY WYVWVYJPVUH \UH M\UJPVUHSPKHK KL ZLY]PKVY JSH]L H [YH]tZ KL TmZ JHYHJ[LYxZ[PJHZ ` M\UJPVULZ KL ZLY]PKVY 0UJS\`L SHZ VWJPVULZ KL PUZ[HSHJP}U WYPUJPWHS KL ZLY]PKVY ` KL PUZ[HSHJP}U JVTWSL[H

7YLJPV! <:+ 7YLJPV

>PUKV^Z:LY]LY -V\UKH[PVU

-V\UKH[PVU

7YVWVYJPVUH H Z\ VYNHUPaHJP}U \UH IHZL HZLX\PISL ` KL MmJPS PTWSLTLU[HJP}U WHYH LQLJ\[HY SH TH`VYxH KL SHZ HWSPJHJPVULZ LTWYLZHYPHSLZ ` WHYH JVTWHY[PY PUMVYTHJP}U ` YLJ\YZVZ ,QLJ\[L SH TH`VYxH KL SHZ HWSPJHJPVULZ ,QLJ\[L LTWYLZHYPHSLZ JVU [LJUVSVNxH KL JVUMPHUaH >PUKV^Z :LY]LY -V\UKH[PVU LZ \UH WSH[HMVYTH HZLX\PISL WHYH LS U JSLV KL SH JHY[LYH KL M\UJPVULZ KL ;0 PUJS\PKV LS \ZV JVTWHY[PKV KL HYJOP]VZ L PTWYLZVYHZ LS HJJLZV YLTV[V ` SH ZLN\YPKHK

7YLJPV! <:+ 7YLJPV