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Xfhbel Sucrtfr ?::0 VplctfXfhbel Sucrtfr ?::0 Vplctf

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@evfstbr Hbehfres; C^O

\m`s prfsfetct`be hbetc`es nbrwcrl-ibba`eg stctfdfets. \mfsf nbrwcrl-ibba`eg stctfdfets crfsuokfht tb r`sas cel uehfrtc`et`fs, `ehiul`eg, out ebt i`d`tfl tb, pbss`oif hmcegfs `e lfdcel nbrcpcrtdfet mbdfs, tmf fnnfhts bn fhbebd`h hbel`t`bes (`ehiul`eg `etfrfst rctfs), tmf `dpcht bnhbdpft`t`be cel hbdpft`t`vf pr`h`eg, lficy `e hbdpift`eg lfvfibpdfets cel ifcsf-ups be shmfluif,hmcegfs `e hbestruht`be hbsts, tmf rfsuits bn n`eceh`eg fnnbrts, tmf t`d`eg cel hibs`eg bn piceefll`spbs`t`bes uelfr cgrffdfet, tmf fnnfhts bn tmf hbdpceys chhbuet`eg pbi`h`fs cel btmfr dcttfrslftc`ifl `e tmf Hbdpceys n`i`egs w`tm tmf Xfhur`t`fs cel Fxhmcegf Hbdd`ss`be, `ehiul`eg tmfHbdpceys Ceeuci _fpbrt be Nbrd 3:-A nbr tmf n`shci yfcr felfl Lfhfdofr 83, ?::= uelfr tmfmfcl`eg Dcecgfdfets L`shuss`be cel Ceciys`s bn N`eceh`ci Hbel`t`be cel _fsuits bn Bpfrct`bes -Nbrwcrl-Ibba`eg Xtctfdfets cel fisfwmfrf `e tmct rfpbrt cel `e suosfqufet rfpbrts be Nbrd 3:-Scel Nbrd =-A. \mf Hbdpcey lbfs ebt uelfrtcaf c luty tb uplctf Nbrwcrl-Ibba`eg Xtctfdfets.

Nbrwcrl-Ibba`eg Xtctfdfets

Hbvfr Zmbtb; Cvcibe lfi _fy, Ibs Cegfifs, HC (hbdpiftfl `e ?::>)

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@evfstbr Hbehfres; C^O

Cgfelc

Cobut CvcibeOcy

Ous`efss Lr`vfrs & Bpfrct`bes

Lfvfibpdfet Bvfrv`fw

Hcp`tci Dcecgfdfet

Butibba cel Xuddcry

8

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@evfstbr Hbehfres; C^OCobut CvcibeOcy Hbddue`t`fs

COBV\ C^CIBEOCP

Cvcibe ct D`ss`be Ocy @@, Xce Nrceh`shb, HC (hbdpiftfl `e ?::>)

Dcecgf, lfvfibp cel chqu`rf quci`tycpcrtdfet hbddue`t`fs

Wfii-ibhctfl `e prfd`fr V.X. dcrafts

$=6: d`ii`be `e ceeuci rfvfeufs (3)

\btci dcraft hcp`tci`zct`be bn $=.> o`ii`be (?)

X&Z 6:: hbdpcey

%

:.0%HCG_

=.7%

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@evfstbr Hbehfres; C^OCgfelc

Cobut CvcibeOcy

Ous`efss Lr`vfrs & Bpfrct`bes

Lfvfibpdfet Bvfrv`fw

Hcp`tci Dcecgfdfet

Butibba cel Xuddcry

33

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@evfstbr Hbehfres; C^OHmciifegfs & Bppbrtue`t`fs

OVX@EFXX L_@^F_X & BZF_C\@BEX

Hmciifegfs nrbd c wfca fhbebdy;

Lffp, w`lfsprfcl kbo ibssfs

Lfhi`e`eg rfvfeuf cel EB@

^bict`if hrfl`t dcrafts 4 nbhus be i`qu`l`ty

Bppbrtue`t`fs nrbd ibegfr-tfrd nuelcdfetcis;

Ncvbrcoif lfdbgrcpm`h trfels `e ybuegfr cgf sfgdfets

Ncii`eg mbdfbwefrsm`p rctf hrfct`eg dbrf rfetfrs

N`eceh`eg hbestrc`ets i`d`t efw rfetci hbestruht`be

3?

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@evfstbr Hbehfres; C^OLfdbgrcpm`h \rfels Ncvbr _fet`eg

Xburhf; Hfesus Ourfcu, Ect`beci Duit`-Mbus`eg Hbueh`i prbkfht`bes

:.< d` ii `be

< d`i i`be

:

3,:::,:::

?,:::,:::

8,:::,:::

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@evfstbr Hbehfres; C^O

:.:%

6.:%

3:.:%

36.:%

?:.:%

?6.:%

8:.:%

%b

ndbvf-butstbmb

dfpurhmcsf

?::8

?::

?::7

?::=

?::0

Mbdfbwefrsm`p `s Ncii`eg

Xburhf; Hfesus Ourfcu, Hbdpcey _fpbrts

C 6: ocs`s pb`et

lfhrfcsf `e tmf V.X.mbdfbwefrsm`p rctftrcesictfs `etb 6::,:::cll`t`beci rfetfrmbusfmbils

Nfwfr C^O rfs`lfetscrf dbv`eg but tb ouyc mbdf

>:.:%

>3.:%

>?.:%

>8.:%

>6.:%

>>.:%

>7.:%

>=.:%

>0.:%

7:.:%

30=

3000

?::?

?::6

?::=

VXMbdfbwefrsm`p_ctf

?S:0 >7.

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@evfstbr Hbehfres; C^OIfss Xmclbw @evfetbry `e C^O Dcrafts

Lfn`efl cs cii uesbil mbus`eg evfetbry. Lctc ebt cvc`icoif nbr Nc`rn`fil Hbuety, H\. Xueofiit dcrafts; Zmbfe`x, Ics fgcs, Bricelb, \cdpc cel XF Nibr`lc.

Xburhf; Hfesus (_fetfr-Bhhup`fl Mbus`eg Ve`ts), Mbus eg\rchafr.eft (6/38/:0)

Vesbil _fs`lfet`ci @evfetbry cs % bn Hurrfet Cpcrtdfet @evfetbry

OVX@EFXX L_@^F_X & BZF_C\@BEX

36

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@evfstbr Hbehfres; C^O

0:%

0?%

0%

0=%

3000 ?::: ?::3 ?::? ?::8 ?::< ?::6 ?::> ?::7 ?::= ?::0

C^O Duit`ncd`iy Xfhtbr Cvfrcgf

M`gm Bhhupcehy Zictnbrd

Xburhf; XEI N`eceh`ci, Hbdpcey _fpbrts. Cs bn Kuef 8:, ?::0

Duit`ncd`iy Xfhtbr Wf`gmtfl Cvg.; C@ , O_F, HZ\, FS_, FXX, MDF, cel VL_

Bhhupcehy bn 06.6% nbr ?S:0

OVX@EFXX L_@^F_X & BZF_C\@BEX

3>

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@evfstbr Hbehfres; C^OCgfelc

Cobut CvcibeOcy

Ous`efss Lr`vfrs & Bpfrct`bes

Lfvfibpdfet Bvfrv`fw

Hcp`tci Dcecgfdfet

Butibba cel Xuddcry

3=

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@evfstbr Hbehfres; C^O_fluh`eg Lfvfibpdfet Xtcrts

$867$?=7

$3,?=:

$

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@evfstbr Hbehfres; C^O_fhfet Hbdpift`be

Cvcibe DfylfeocufrOfiifvuf, WC

?:

LF^FIBZDFE\ B^F_^@FW

Mbdfs; 8>=

Cvfrcgf _fet/Mbdf; $3,=?:

\btci Hcp`tci Hbst; $==.3 D

Hbdpift`be; S8 ?::=

Ibhctfl w`tm`e wcia`eg l`stcehf bndckbr fdpibyfrs (D`hrbsbnt, Fxpfl`ccel Pcmbb), smbpp`eg, l`e`eg celfetfrtc`edfet.

Hbetc`es c efw hbehfpt Xcnfwcygrbhfry stbrf cel Xtcrouhas be tmfgrbuel nibbr.

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@evfstbr Hbehfres; C^O

Cpcrtdfet Mbdfs; ?3>

Cvfrcgf _fet/Mbdf; $3,=66

\btci Hcp`tci Hbst; $

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@evfstbr Hbehfres; C^O_fhfet Hbdpift`be

??

LF^FIBZDFE\ B^F_^@FW

Cvcibe ct tmf M`egmcd Xm`pycrl

M`egmcd, DC

Cpcrtdfet Mbdfs; ?86

Cvfrcgf _fet/Mbdf; $3,=86

\btci Hcp`tci Hbst; $68.6D

Hbdpift`be; S3 ?::0

Ve`quf bhfce-s`lf ibhct`be sbutm bnlbwetbwe Obstbe.

C 86:-si`p dcr`ec cel hbddutfrnfrry tb Obstbe crf efcroy, w`tm fcsychhfss tb tmf efw Grffeousmhbddutfr rc`i.

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@evfstbr Hbehfres; C^OCgfelc

Cobut CvcibeOcy

Ous`efss Lr`vfrs & Bpfrct`bes

Lfvfibpdfet Bvfrv`fw

Hcp`tci Dcecgfdfet

Butibba cel Xuddcry

?8

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@evfstbr Hbehfres; C^O

Nuel @@ fqu ty

hbddtdfets, $3=: D

Hrfl t Nch i ty, $3?< D

Xfhurfl Lfot, $=8: D

Vesfhurfl Lfot, $88: DLspbs t`bes, $>6: D

Xfhurfl Lfot,

$77 D

Obbst`eg I`qu`l`ty Lfsp`tf ^bict`if Dcrafts

?

Ibwfr IfvfrcgfXbi`l Hbvfrcgf

Xburhf; Hbdpcey rfpbrts, XEI N`eceh`ci cs bn Kuef 8:, ?::0

Duit`ncd`iy Xfhtbr Wf`gmtfl Cvg.; C@^, O_F, HZ\, FS_, FXX, MDF, cel VL_

8.6x

?.8x

_fhFO@\LC/@et+Zrn

L`v(x)

3.:%

:.:%

?6.:%

6:.:%

76.:%

\btciLfot/\btciHcp`tci`zct`be

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@evfstbr Hbehfres; C^O

-36.:%

-6.:%

6.:%

36.:%

?6.:%

86.:%

6.:%

76.:%

3000 ?::: ?::3 ?::? ?::8 ?::< ?::6 ?::> ?::7 ?::= ?::0 (F)

%h

mcegf

C^O Duti`ncd`iy Xfhtbr Wf`gmtfl Cvg.

HCZ@\CI DCECGFDFE\

?7

Ibeg-\frd L`v`lfel Grbwtm

@ehrfcsf `e C^O l`v`lfel bvfr tmf pcst 3: yfcrs `s 7:% hbdpcrfl tb c lfhi`ef bn 7% nbr bur pffr grbup Xtrbeg l`v`lfel hbvfrcgf; bur hcsm l`v`lfel mcs ciwcys offe pc`l nrbd rfhurr`eg hcsm nibw

Xburhf; Hbdpcey _fpbrts, XEI N`eceh`ci. @ehiulfs l`v`lfels cs lfhicrfl nbr fchm qucrtfr bn tmf tfe yfcrs prfsfetfl.?::0(F) ocsfl be ?S:0 cel 8S:0 L`v`lfel lfhicrct`be.Duit`ncd`iy sfhtbr pffr grbup (wf`gmtfl cvfrcgf).; C@^, O_F, HZ\, FS_, FXX, MDF, cel VL_

@e 3000, CvcibeOcy's

l`v`lfel pfr smcrf wcs$?.:>

@e ?::0 CvcibeOcy'sceeuci`zfl l`v`lfel pfrsmcrf `s fxpfhtfl tb of$8.67

-7%

7:%

}

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@evfstbr Hbehfres; C^OCgfelc

Cobut CvcibeOcy

Ous`efss Lr`vfrs & Bpfrct`bes

Lfvfibpdfet Bvfrv`fw

Hcp`tci Dcecgfdfet

Xuddcry

?=

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@evfstbr Hbehfres; C^OXuddcry; Wmy Cpcrtdfets2

Cvcibe Wcrefr Zichf, Hcebgc Zcra,, HC (hbdpiftfl `e ?::=)

XVDDC_P

?0

Xburhf; EH_F@N. Ct Kuef 8:, ?::0

-3.>%

7.8%

-=.?%

6.=%6..3%

-?.?%

-3:%

-=%

->%

-

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@evfstbr Hbehfres; C^OXuddcry; Wmy CvcibeOcy2

Zrfd`fr cpcrtdfet dcrafts

Wfii-ibhctfl, m`gm-quci`ty pbrtnbi`b

N`eceh`ci strfegtm cel nifx`o`i`ty

Hyhif-sfcsbefl dcecgfdfet tfcd

Ibeg-tfrd butpfrnbrdcehf

Cvcibe Lfi _fy, Ibs Cegfifs, HC (hbdpiftfl `e ?::>)

XVDDC_P

8:

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