*MVWX UYEVXIV VIWYPXW / 6447 ,ERW 7XVFIVK 4VIWMHIRX ERH ')3 - - PowerPoint PPT Presentation

mvwx uyevxiv viwypxw 6447 erw 7xv fivk 4viwmhirx erh 3
SMART_READER_LITE
LIVE PREVIEW

*MVWX UYEVXIV VIWYPXW / 6447 ,ERW 7XVFIVK 4VIWMHIRX ERH ')3 - - PowerPoint PPT Presentation

*MVWX UYEVXIV VIWYPXW / 6447 ,ERW 7XVFIVK 4VIWMHIRX ERH ')3 -RHYWXV] WLMTQIRXW ERH IWXMQEXIH XVIRH MR HIQERH / 5 5 6447 2SVXL %QIVMGE )YVSTI w 'SVI w 'SVI %WME ETTPMERGIW ETTPMERGIW w 'SVI w :EGYYQ w %MV 0 GSRH 2 ETTPMERGIW GPIERIVW w


slide-1
SLIDE 1

*MVWX UYEVXIV VIWYPXW/ 6447 ,ERW 7XVÅFIVK 4VIWMHIRX ERH ')3

slide-2
SLIDE 2

5

  • RHYWXV] WLMTQIRXW ERH IWXMQEXIH

XVIRH MR HIQERH/ 55 6447

w 'SVI ETTPMERGIW w 3YXHSSV TVSHYGXW

%WME

w'SVI ETTPMERGIW w%MV0GSRH2 w:EGYYQ GPIERIVW w3YXHSSV TVSHYGXW w;LMXI KSSHW

2SVXL %QIVMGE &VE^MP )YVSTI

w'SVI ETTPMERGIW w:EGYYQ GPIERIVW w4VSJIWWMSREP ETTPMERGIW w3YXHSSV TVSHYGXW

5, 6, 5, 'SRWYQIV 4VSHYGXW 6, 4VSJIWWMSREP 4VSHYGXW/ I\GP2 4S[IV 'YXXIVW ERH (MEQSRH 8SSPW

%YWXVEPME

w;LMXI KSSHW

5, 6, 6,

slide-3
SLIDE 3

6

'SVI ETTPMERGIW/ 97%

  • RHYWXV] YRMX WLMTQIRXW

'LERKI MR ( ZW WEQI TIVMSH TVIZMSYW ]IEV ! *YPP ]IEV 09 4 9 54 59 (

5 6 7 8 5==< 5 6 7 8 5=== 5 6 7 8 6444

054

5 6445 6 7 8 5 6446 6 7 8 5 6447 6 7 8

slide-4
SLIDE 4

7

09 07 05 3 5 7 9 ; 43

4 5 6 7 4 5 6 7 4 5 6 7 4 5 6 7

'SVI ETTPMERGIW/ )YVSTI

  • RHYWXV] YRMX WLMTQIRXW

'LERKI MR ( ZW WEQI TIVMSH TVIZMSYW ]IEV ! *YPP ]IEV

(

5==< 5=== 6444 6445

:HVWHUQ (XURSH .61;( .419( .618( 0319( .31:( .6/:(- 7RWDO (XURSH

4

6446

5 6 7

  • <7'

4

6447

5 6 7

slide-5
SLIDE 5

8

'SVI ETTPMERGIW/ )YVSTI

  • RHYWXV] YRMX WLMTQIRXW

(8523( 3/ +8 58 6FDQ 1/ %( $7 &+ '( (6 ,7 *% )5 09 07 05 3 5 7 9 ; 43 45

(

=0S0] GLERKI 55 ;IWXIVR )YVSTI .62;( )EWXIVR )YVSTI .;2;( 8SXEP )YVSTI .72;( 55 6447355 6446

slide-6
SLIDE 6

9

1HW VDOHV 65/395 66/8;3 0718( 466/483 2SHUDWLQJ LQFRPH

0DUJLQ/(

4/:<; 819 4/<39 81: 081:( ;/498 914 ,QFRPH DIWHU ILQDQFLDO LWHPV

0DUJLQ/(

4/:<; 819 4/:<: 817 .314( :/<:< 913 1HW LQFRPH SHU VKDUH/ 6(. 61<8 61:8 .816( 491<3 9DOXH FUHDWLRQ :64 93< .455 6/794 5HWXUQ RQ HTXLW\/( 4:1; 4917 4;19 5HWXUQ RQ QHW DVVHWV/( 541< 4<14 5519 1HW GHEW2HTXLW\ UDWLR 314< 316: 3138 'LERKI 55 6447 7)/Q *YPP ]IEV 6446

7EPIW ERH IEVRMRKW

)\GPYHMRK MXIQW EJJIGXMRK GSQTEVEFMPMX]

6446 55

slide-7
SLIDE 7

:

)JJIGXW SJ GLERKIW MR I\GLERKI VEXIW SR RIX WEPIW MR 55/ 6447

1RUWK $PHULFD (XURSH 5HVW RI WKH :RUOG ,QGRRU 2XWGRRU 07/333 06/833 06/333 05/833 05/333 04/833 04/333 03/833 3/333 55 6447355 6446

&RQVXPHU 'XUDEOHV 3URIHVVLRQDO 3URGXFWV

6(.P

7RWDO 3

slide-8
SLIDE 8

;

8SXEP +VSYT

4 5 6 7 8 9 : ; %ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR ( ;%'' 6447 ! 57( TVI0XE\

/I] (EXE 55 6447

7EPIW> 7)/ 76/4:6Q 0829( )&-8> 7)/ 5/;=<Q 092;( :EPYI GVIEXMSR> 7)/ ;75

7)/ .566Q 5==; 5==: 5==< 6444 5=== 6445 6446

4276 4278 427: 4274 426< 426:

55 47

56 QSRXLW JMKYVIW

slide-9
SLIDE 9

<

;SVOMRK GETMXEP ERH GEWL JPS[

5==; 0 6447 55

'EWL JPS[> 'EWL JPS[ JVSQ STIVEXMSRW ERH MRZIWXQIRXW I\GP2 EGUYMWMXMSRW ERH HMZIWXQIRXW SJ STIVEXMSRW

5: 58 56 54 < : 8 6 4

56 QSRXLW JMKYVIW

=/444 </444 ;/444 :/444 9/444 8/444 7/444 6/444 5/444 4 'EWL JPS[/ 7)/Q ;SVOMRK GETMXEP3RIX WEPIW/ ( 6445 5==< 5=== 6444 5==; 6446

58 55 56 57 58 55 56 57 58 55 56 57 58 55 56 57 58 58 55 56 57 55 56 57 58

'EWL JPS[ ;SVOMRK GETMXEP3RIX WEPIW

55

6447

slide-10
SLIDE 10

43

3RKSMRK VIWXVYGXYVMRK TVSKVEQW

w 8LI VIWXVYGXYVMRK TVSKVEQW ERRSYRGIH MR 6445 ERH 6446 EVI TVSGIIHMRK EGGSVHMRK XS TPER w 'LERKIW MQTPIQIRXIH XS HEXI LEZI MRZSPZIH TIVWSRRIP GYXFEGOW SJ XSXEPP] 9/764 w 'PSWYVI MR XLI UYEVXIV SJ E TPERX JSV LSFW MR +IVQER]

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

slide-11
SLIDE 11

44

'SRWYQIV (YVEFPIW/ 6IWX SJ XLI ;SVPH

%ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR ( 58 56 54 < : 8 6 4 06 08 0:

/I] HEXE 55 6447

7EPIW> 7)/ 6/=4< 05928( )&-8> 7)/ 0564Q 0889( :EPYI GVIEXMSR> 7)/ 0777Q

7)/ .57Q 6444 5==< 5===

4294 4286 428:

6445

427< 4278

6446

4274

55 47 w 7YFWXERXMEP HS[RXYVR MR MRGSQI MR

  • RHME ERH 'LMRE

w 6IWXVYGXYVMRK QIEWYVIW SRKSMRK

56 QSRXLW JMKYVIW

slide-12
SLIDE 12

45

7EPIW ERH MRGSQI 0 ETTPMERGIW/ 6IWX SJ XLI [SVPH

1EVOIX 7EPIW )&-8 'LMRE

  • RHME

&VE^MP %YWXVEPME

slide-13
SLIDE 13

46

4VSJIWWMSREP -RHSSV 4VSHYGXW

54 = < ; : 9 8 7 6 5 4 %ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR (

/I] HEXE 55 6447

7EPIW> 7)/ 6/5:9Q 06<29( )&-8> 7)/ 57<Q 0682:( :EPYI GVIEXMSR> 7)/ <5Q

7)/ .94Q 6445 5==< 5=== 6444

427: 427< 4284 4278 4276

6446

4274 426<

55 47 w ;IEOIV HIQERH JSV *SSH 7IVZMGI )UYMTQIRX w 7YFWXERXMEP MQTVSZIQIRX MR MRGSQI JSV GSQTVIWWSVW

56 QSRXLW JMKYVIW

slide-14
SLIDE 14

47

'SRWYQIV (YVEFPIW/ 2SVXL %QIVMGE

; : 9 8 7 6 5 4 3 4275 4277 4279 427; %ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR (

5==< 5=== 6444

427=

6445 55 47

/I] HEXE 55 6447

7EPIW> 7)/ 56/46<Q 0=29( )&-8> 7)/ ;=<Q 0<2=( :EPYI GVIEXMSR> 7)/ 76:Q

7)/ .5=Q 6446 w 4SWMXMZI XVIRH MR MRGSQI JSV ETTPMERGIW ERH KEVHIR TVSHYGXW w 4VMGI TVIWWYVI MR JPSSV GEVI TVSHYGXW

56 QSRXLW JMKYVIW

slide-15
SLIDE 15

48

2I[ )PIGXVSPY\ VERKI HMWTPE]IH EX XLI /MXGLIR ) &EXL -RHYWXV] 7LS[/ 97%

slide-16
SLIDE 16

49

,MKLIV STIVEXMRK MRGSQI MR PSGEP GYVVIRG] JSV 'SRWYQIV (YVEFPIW/ 2%

1EVKMR/ ( 5/644 5/444 <44 :44 844 644 4

5WX 5XV 6RH 5XV 7VH 5XV 8XL 5XV

17)/ 56 54 < : 8 6 4

:2: 82= 52; 529 <2= :2;

6445 6446 6447

1EVKMR

:2: 927 926

slide-17
SLIDE 17

4:

'SRWYQIV (YVEFPIW/ )YVSTI

; : 9 8 7 6 5 4 %ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR (

/I] HEXE 55 6447

7EPIW> 7)/ 55/=<;Q .:2:( )&-8> 7)/ ;54Q .924( :EPYI GVIEXMSR> 7)/ 879Q

7)/ .:5Q 6446

4267 4268 4269

5==< 5=== 6444 6445

4266 4265 4264 425= 425< 425;

55 47 w 7XVSRK ZSPYQI HIZIPSTQIRX JSV ETTPMERGIW MR )EWXIVR )YVSTI w +SSH TIVJSVQERGI JSV KEVHIR TVSHYGXW

56 QSRXLW JMKYVIW

slide-18
SLIDE 18

4;

,MKLIV STIVEXMRK MRGSQI JSV 'SRWYQIV (YVEFPIW/ )YVSTI

5/444 <44 :44 844 644 4

5WX 5XV 6RH 5XV 7VH 5XV 8XL 5XV

17)/ 54 < : 8 6 4 1EVKMR/ ( 6445 6446 6447

1EVKMR

825 925 82< ;26 ;29 92= :2: :2= :24

slide-19
SLIDE 19

4<

5: 58 56 54 < : 8 6 4

4VSJIWWMSREP 3YXHSSV 4VSHYGXW

%ZIVEKI 2IX %WWIXW 3 2IX 7EPIW 3TIVEXMRK 1EVKMR/ (

5=== 5==<6444 6445

4284 427< 427: 4278 4276 4274

6446

/I] HEXE 55 6447

7EPIW> 7)/ 6/=94Q .592<( )&-8> 7)/ 886Q .5829( :EPYI GVIEXMSR> 7)/ 6=;Q

7)/ .=Q 55 47 w +SSH ZSPYQI KVS[XL MR GLEMRWE[W ERH PERHWGETI IUYMTQIRX w ;IEOIV HIQERH JSV HMQSRH XSSPW ERH TS[IV GYXXIVW

56 QSRXLW JMKYVIW

slide-20
SLIDE 20

53

l|2XLI +VSYT*W STIVEXMRK MRGSQI JSV XLI JYPP ]IEV MW I\TIGXIH XS FI WSQI[LEX PS[IV XLER MR 64462z

w9RGIVXEMRX] VIKEVHMRK QEVOIX GSRHMXMSRW w7YFWXERXMEP HS[RXYVR MR MRGSQI JSV

  • RHME ERH 'LMRE

w4VMGI TVIWWYVI MR JPSSV GEVI w;IEOIV HIQERH JSV JSSH WIVZMGI IUYMTQIRX w9RJEZSYVEFPI GYVVIRG] HIZIPSTQIRX

6IZMWIH SYXPSSO JSV JYPP ]IEV

6ITSVX JSV XLI *MVWX 5YEVXIV SJ 6447

slide-21
SLIDE 21

54

7YQQEV] SJ 55/ 6447

4SWMXMZIW

w ,MKLIV MRGSQI JSV 'SRWYQIV (YVEFPIW MR )YVSTI w 'SRXMRYIH TSWMXMZI XVIRH MR WEPIW ERH MRGSQI JSV ETTPMERGIW MR 2SVXL %QIVMGE w 4SWMXMZI XVIRH MR MRGSQI JSV 'SRWYQIV 3YXHSSV 4VSHYGXW

2IKEXMZIW

w 7YFWXERXMEP HS[RXYVR MR MRGSQI MR -RHME ERH 'LMRE w 4VMGI TVIWWYVI MR *PSSV 'EVI/ TEVXMGYPEVP] MR XLI 97 w ;IEOIV HIQERH JSV 4VSJIWWMSREP -RHSSV 4VSHYGXW

slide-22
SLIDE 22

55

*EGXSVW EJJIGXMRK JSV[EVH0 PSSOMRK WXEXIQIRXW

)DFWRUV DIIHFWLQJ IRUZDUG0ORRNLQJ VWDWHPHQWV 7KLV UHSRUW FRQWDLQV ³IRUZDUG0ORRNLQJ´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