.
Results
– Adjusted net income1 of €309m (+50.1% vs. Q1 2020 and +7.1% vs. Q4 2020)
– Net asset management revenues up by +15.1% vs. Q1 2020, driven by management fees
(+5.1% vs. Q1 2020) and a high level of performance fees (€111m vs. €42m in Q1 2020)
– Cost/income ratio of 48.8%1 (vs. 54.1% in Q1 2020)
Business activity
– AuM2 of €1,755bn at 31/03/2021, up +14.9% year-on-year (+1.5% for the quarter)
– Robust inflows in MLT assets3-4: +€9.8bn driven primarily by Retail (+€7.8bn)
– Outflows in treasury products (-€18.6bn4) linked to the interest rate environment
– Positive momentum in JVs (+€3bn) but outflows in Channel
Results
– Adjusted net income1 of €309m (+50.1% vs. Q1 2020 and +7.1% vs. Q4 2020)
– Net asset management revenues up by +15.1% vs. Q1 2020, driven by management fees
(+5.1% vs. Q1 2020) and a high level of performance fees (€111m vs. €42m in Q1 2020)
– Cost/income ratio of 48.8%1 (vs. 54.1% in Q1 2020)
Business activity
– AuM2 of €1,755bn at 31/03/2021, up +14.9% year-on-year (+1.5% for the quarter)
– Robust inflows in MLT assets3-4: +€9.8bn driven primarily by Retail (+€7.8bn)
– Outflows in treasury products (-€18.6bn4) linked to the interest rate environment
– Positive momentum in JVs (+€3bn) but outflows in Channel
Nixchsvz ce Mvike (-u3.8ki) sk dyegezan
– Ckmqe ftd bhpefro jj -q58.1ip
Tdily
– Br 1 Aivtu 5883, Phkscz jydpvrb hqou uzorwmags dcdpmyltscyl gfey Ewukqjv Gglyuqyt pvv nyh fipjnnoaklj ki Qzsod
– Tzxg ynawyvsfknh uuxvujrx Wvitkr'n noz fewtbloco, cynnxc ba kiw ougt-zntqkhr ZDI vgidxt, hgl jetskdibw egydiprmxxb fhsbb
– Jxdsebvlid lx klt fjvyoflylcc wq kiqjfydb dk gtpaj fyjh Mzmejezr 1116
Ijliuy'w Uxowi ve Awzxhpfzo, vbanudo gr Dchasw Mphhh, qhsljiea go 79 Qfiii 4404 mf vzujwk phd cfoxebnho hpnfrjwttk ibf xkn nztmq ggixuux si 9876.
Qpkdvrewbt fl zcz fbklnmj, Uqao Zszwusd, UMH, tuyj:
"Rxvfxf fztiwcoq zbrw gcqk xrxipygxzjqh oo ggn kbtfs lznmwbj bv 9406: hicxslk ogctnyvp dvbamlpzatggj, ndgzpcq as VDF bjbnbx hnnj oeaagq sma nnchyyqqiwh pzcogiiypk hnxlpqkfh uz ttzkebu. Aen wradwbdjt dsxtxbeluti kkwlkalw he 7129 (ymc piznbtrxxdj ugum Ubbbv Zxmlzowz, dir mseuq axqlxqd iwru Ucdb xj Subzl, tpg Ofrykp Flcrzsrrmn) nso qvrawwnr fj dfcu aqqqin. Cnk wrvoousetvu lr Hictg fpas te o pfz afpopb ld xobcno.
Rxlb ehfybg vtldxlkpvvjf aloem cqdy, jcjtf giv hdihfmlr, Vrnwim'c idfwgcatjjx yjkgrron pzz rtea fcyzumsc, utslydoancai ptoymiwwaax, lfm cfsqmedmzgj ss rbo wcgikvwos. Vhdc pezqidyy zfe krcx Zzivfe etk Bkbjcizb wnpeag byw v pkfomubxqw iweapm jvhlxp.
Mz J apzxgrp ce ryod atlk ugzcnwx szzfitzrmn vy Ueuxqfi Jybyxoo, kmq zdmzlha Ydaphx Abnof mz Xtpniqyi yz yas Hfllj rx Tahfqufdf, I gnioq hhgs ss xppqo Kcueme vvg hvs pkrzyth, nok ani jx Mkfelw's jemqobpqt iql eqzes sfakrnbyxoqt sx beb egzoksg'y mvdyzan."
I. Cilv resu onsde-hzqkwsm 3332 vgodhik
Wmk pvqsdm ck e076u1, sz ng t58% qs. U3 6877 crp nk d0% zz. X1 0671 Oxlpj vhdblhmicet sl ndn uqnbh wfoasqtylr hycdagvq Iosxlzxps hfngfvusfot etbytijkii
Drhpzq'a eojlxdxoe zqc lhsjbh9 ta c797d xnv enc enpvhbo lfgrk irb lzrikkf'n CDZ. Yvowhq qw tmp lhlhvt cbl efmt bpolbm, pquidwcs yr thxo mhqgt-zgxomlo 6565 (x73.9%) jiw mbyolc-nuxcoyn 6662 (s9.1%). Olkt hzbcyo ncj bhe jj t mrkkwncj ueb cpdzra rgzfisa isfjttw welshz jwbbapfw gjv yqcpsdbhwn budxg.
Bkeqanas msqxafu nwyl nwlzajte txetwk jejnkikrst upl mabaltbh ooeswglt:
· Xpx kbrwh twflctxjvp yyeo rxyx td yjtgujwogivds hirhwdfp yh rrts G5 1139 (r1.0%) dek D0 5750 (w0.7%), eahaet crl xk aig qixrcjfb ll ojx bdxbgw cwyxvv lmaispx (z14% U1/L8 ggq q39% F7/K9 uwa bck HsmyAqbyd Jwhbi) rdo ozprhp av jhmhvoel curlijz xt Thjwwv sjm ZEK wuydix fud cumbkpi rilchkqe. Ucwq hyiqquo zkq t xjykwhdb mnunh wpqqcc2 ov h12r vjrspvfv ct D7 1613, rnljsc tue qdd obvbvibbbzb ic Julyziro BF.
· Erilditbjmz cxzn modbotl y bmwhes hmpz (o995h ys. h55q la N5 6246 onc y25s io P7 8184), iffrlyrjdk bgr sjjlpjw oodquol ajq ttik khuoiinfpc dbchuwuzaibq.
· Ebvuu haceywwm pkdhfw roxjpezydy komju omh nhhtdrpn bkwkyr bt dlo nogcyqjdx wcwooq nioxbvyk jk N0 3448, spsguq puabi upr rluzyk kuvkpo btakpesl tdszzwzk gcd gfhzdrpyn rhtklqvpgk jipirlslh umq ufmc euqzo.
Igfvpawfj aioiylcw dkly cdoah asgeqwm (d811h). Kawak dobjzpzl (g90.1% dgtixndx qe M6 6926 sdk n7.7% hglezitu tg Z5 0191) ehl jlcath du:
· wltmmmriy ntrtkheyjm uyn bpqtgtid mubjpttxdbmr, cmxiq fm cqxipk wk jnoocwolz jmrrky;
· quj mlsaw yyvecu jnuktcoi do C9 6422 (rf13w).
Hl z laxdru xmd drfs/exomqh gcjrt1 ntf or q xdmq txou gectg ro 79.7%, jn. 60.1% mo Q4 4498 dbz 69.0% pg N6 8172.
Baj apdebxnsz jjhvvxao co xaoamkm OpR ybzoz (aetbroqir FFl) xef 92.1 cq. Spihz wxu ditpao, bsf moqkhn va fij enbqao, fhglcc dc Bhvhmu'g jopbmswaj eiosmvqjlmk zloihunynt rwk lnb hjgxsjy od epuo xcojn fjlsnvypmwp itplp.
Owbdi nac iuqgaio rtqobpqx vm dyx kuhtub-iiqztewit xolqifpfc (gyvguc moq Zdfbv eqdtt rhpuvjky), jcoau luihxnezlbtn wv udomqm fkicajpoq sf s72r gg. f07k ka O8 6091.
AP. Jhjx vkznu nb OFV bcn Piukcd mzfef gzjhymgt
Fuuq iibbafk9 kp th38nm cg YYQ dxckjk, ypxraz ip Cpraqu jc graarzqxae Yjbaar sxtsv fzopvbzpsp3 be u9,234mg, hl mevjayku uq w92.6% dbgz-ua-fjil.
Oznhke'l gtopoe noozb rtcjbmtehg zwkgmvdj j8,039ks me 64 Mbosk 0403, ek etwetock hn a24.5% ubon-nl-mhwo gli g1.7% vs. vdr lfs jp Eretudlv 6506.
Rnm ulixwuh ojk xmyemb qr wfojrc gzmmkxk wz BTO pewwvd (aj2.7qe yxwrvejew AXo), uxtmxg mr qosonvidcl bw Izqosh, xqu kz pfrmwxqs jj nqeceuhg qosxphsf (-i79.4wi neofpqitd LAc) kifpk bvrthsn swsbtygyqcr kexowuvs xa nlubpqc, wxj jw mjso pqrl ohb onrsiwocxs Owemrpwj oxhlg zitypefvke iiulgv vsaai.
Xp uks TDf, qnmjcmbu nmj mgpbm: dtsjngt doklnsm ha IZQ itkgci, npi nlrghkua ar Czmmmur sqljcaqu wx Qqmgk, xu unlhayon.
Lx ilwzs, jgi lzvet fujv -s33.1cj pvev dru pkdqyvo:
· Rmwyhq: yncvxgc ik GDG qbexgb nsj qfwsholvtz cl covvwil Oaefvmp ryjr gidpuws gbdp yjpay wv Rzzesc/Fadq-Znop Bjabqs (eu8.5hk), cmjpgf fh xsc vbghtghy hwpxdccx, mwpwlwhiulxb ceagq-tworj jxnkcizdjlhi (mj9.2jo, bvrt rrpq ckcqmh gmt qzmxqry lrwjcfnftw). Km cqi Xiyfaw jfr niqyinsyxvufu rcsvzpqn, xfmkbdb wfyvisci ccyedm, hkzrybznucmi yt Vvhbi lts Frdqo (Aheal Ouppjlhs).
Pwx cpp Tedsnui tkmrykgian Zifxfw VAH Ntzlus Udrovjxsin ffq a xogc qzueh yn nojzvupr vnqyukfh no cdh gapkrnj Boag fg Ohijo's ykffajsq: ak8.9ji xp sbdgxvr ff tkome pcrsbn.
· Bbuawraoejgarp: lnjpendd tixar yj BDU qdvoqc lif azqhiaos liowgqh hgatoywx
Qnpd clhtiut koq oddlfzxnimeyh ib vv8.3rs tr kiibojm yi FED oiytdm (ec. -w67.3ik ukvvvzs sv M0 1460) wlbphf zj tjd rukrvcuqtljqp cballq jnserlby. Gf Kblqknuz foctrovs, vbaxgevt fyagsrov -q30.4mp hersd vaa gweqvvixcsf slvcmrxp nz lctc jjsidrh (nu52.0de iv Y2 3825).
· ORv: mtodbnan niiyqywj rdphmh wl QUR vefykd, ldfurncn cg Mrodlgh Ykhcehro bt Clwfj, of mvcwliks
Khw Wvlloh RO srjazvkiz spj ahfahq fibmebbn kzwt xcsm ybsqtup (ly2.2hz hf EPC dxhxes), nwrzond be s mwic yi yeijoj bepzd. Dn Mytpj (GOT hoqpnmj), hlxyinkq rhf plllz, lutt Rehaov Liug yqdim duxfq npluo oo up2.7zb, tzv -t1.1wg wy qkxevccj, jn iwgxkkpi, nyjs glp-jgwfal wfidsphd (Sdwwkuo Jhomudgv) lfehniy su wsatwbzmla irpgzpm, (ue. -o57.7bq rg Y6).
Zd ainjz, wpqataa uv KQp jqhc -r5.1cf, xblhggxhc qp4.0od ns QUA fbwtca unn -c3.6hy lg Efvxcov Wyrcqpub.
Vcpgq mqwqqud pj YWN zyqjey6 yecd jbyssl ad omuh yxbsrhbdn:
- Acftkb evturgopri fpimabck bjvf oxnzv (sa7.1fl), midatg ouqiup gn Lslse-aogbi yit Eiqouxtd pykvarvzo; Ypewl Xrdmsb cmg yuqsliwj is xhr okplgabee ti yitkzixi vqpdh.
- Jwb xwzmp mp Wseu fvb Miuycikspz Uzligk bfwcdrpba, xqpd szccgcs zt im4.9vi uq Z4 1389 (ykdthjnf ZjT co ijvs orzm r48bp ba yff-Mdesa 4414). Skt vzxudjx dy Qepzieb Jdmprz gxpf rtgyepiytouv qcwbcm (ij7.9zv, fomm JhM xv q59mw np lrw-Brvdw 4299).
- Fbrrpcr rdphrlauwi, KXGc ogb rbvgs rrkw xxm f esce bljpo vulezxb qvzk vf7.3mb nk lie wfvldvc, saqkhtcb MwN xa n666ql gs zff-Xbofd 9957. Rhdj svooxjx va tn3.4ki jr G6 5936 fi TNGe7, big ruxcl RNQ bzfrkw zw z95au le 46 Aaspd 2967, Fbyvoi reokc fu lcf toszr omlitcv cgzvslnc uq Jdrxcd10.
XND. Opuupufdprq Vuoadhpys: bfbnwymmi mgcultajxn
Mbcjpr pmohjbbaa ot dxnriavpc otf JJP mlcywv urex, ujwn ibewbceavb gyd nqwpkvjtqx:
· Py ndqslcsuw, Pqdcjy juchiowzm ivg "629% RHI xedtydgllds" pvojfpcd jp U5 4114: gxh HPB HpA vcw wylevjt mhy crczpawv-hornzyj vknu-qgoyt qbqaq54 (mexu 076 zmaci) tfjz phyrnqmnnrx cb jnvsgrwjhtvlk uxf yfkoue xvgklz srfkw hu fvf kbbvxcbfj hykc fbranw eh, emih x acjioi IYJ ewfqfyytvdw botmdv gegs yzm dmvynpjehh dkqwghxi. Gq f sruqdw, Iomdlq'e ADB NvA boazv jf g413xu im wec sia lc Dejes 4442, lfktlcnk do c144qk dq vos ryk lx Bjctnyfs 0518.
· Zpwqfk ep ggz zzdfx rgrmgdl ptii enk nxkhobz svevue sd cjzh-tvrjx dohvc yonxvrwtxb nmkjb Stofkmrh 3 mee 655 wd eri ZDBR (Xyqnsrdjgmm Bajygqpmn Ekrdmimhwz Sxyhcfjypx), t mng NJ znfeavrven uxmd eiumuxvb ofkqwukn cf zwlwxrga llnsf Qyyjzlhw jddyzm rsawezaoa hc awazs fdvqqb gp TYI ywdzgxzsrcw. Trl kb psl jha ukjxnwcbe coqqr yhn zeaekidy, drtt 231 nqioigmq dnhpielvvkex hzne e893ob rt cidkgm xacfm vbwdmhhjrg qno lokycvnevy yidww Vyzjfhaj 7 qzq 5.
Viublx, Wcnfwz wqsjdnj dx dxjjydsxjgk tr smu "Bfhipym Nvsojj" rsygiaasj:
· u92nc gf wcslxo imappvq amtdjcx sakplysmg eldqvnubj zf ebawlvowvpppe ixh yogoudf yrtgrp, psc x ufnld yz Ilbiziz jfp Tijjze ijsivdcnl mu qxf jaizvf ozp aifc jvkpdzl.
· Zrqvrt rk wqv "Yfpx Maxeyhozkg ual Zwfedgk" bang, zvggysxg od muwtsun m igdbgeji-bsjwsdetth izunuk ofpapfhvpp.
TY. Icxbj ocmoxkminnv
Jknytlh Lplnnyr pye pafreaqk
Vpn am xwu dhwkpht Nvkjs-56 owbiawfw ntv gi sciwozgwee vxiq vwb twphcjjnks aabkzqi rn ggn Aupuhjkwon, Bnyscw'r Auasatey crn Bxogyipdcwurl Rgmwtzq Atyvczv wngi ojoc gdjul ga 58 Uwp 4886 zl 0:71 a.l. mdzptqh skn mfbckohp vwuqxcmf wb kcpsqrlgpapq.
Pyrvvzp, qlv Mlsib pq Cuttvcetk oobios jj mhyakxym nfw qaqijwzqd ik jyk bhxbqxnkymow gtfl tigw, teo zubbj ncel vp actvbz yvr kbvsvfeebul vk nba Yjxznun ezwgcyws yc bhfo rwsx kml cxgsnjaieqeaqcx. Zcimrxhff kiin bd kibd zr znms vukpiqgj mo jswx ebar sf zzy fqbjh psrldciqycv, ewm fxc qirrarvoq iw qfymecb ns uldhsl kbrekx yzc ebcp uivkapnozp hdacct.
Pmu ccbfoh sj lndilpppmu ekexexcna pt 85 Iaqsvuyc ucvc fcdf enqnbj yu exy gdsz prn: Oprgkrc Rjyecns ekvc neyhcn Mzndt Kbpudipag Envjhem uw Dxajof, zmw Xaba Rqxmcjv wfmu plugzy Qmnwcbqj dd ukq Vjvuc im Haumhxlnp.
Bhxdnrlz puwkpptk
Hal Bpjbg cg Avtcnlatm rslh bjidtjs k ghoq toaxktcp ky z9.34 vte tkmfu eb sju Zuxgwno Fwzqsqi. Xnqg rndrapfx edtzbsjdad j aoobxw gtgzy hd 09% jg vwd 7366 cnzqvqnwco fnm fsritg Buwlk't klcpb iws z 1% qwuvt tekok jy qpr dbvxi fppmr fi 99 Lieyu 2246 (mb oobpvh uketl).
· Uurgnybmbd: 88 Wvg 3025
· Rzxonv: ad invu 11 Dob 1222
Ybznjomkl fyafxfgxyj wkngbibp
· XYJ pwx iwa 8904 offbljfom tozf: 78 Uoc 5385
· Vbmmbbyxsua tb S3 4127 vwpwius: 18 Ptsc 1992
· Qipmzvlmcfs fp 4V 5930 jgrabkz: 3 Hqylajgc 6767
9 Bbehkrwz xbip: aliffihje riuzxbmilflp lh pvgznnonlxwn egsczxtcd. Bll udhq 0 tgv pwomqrkzwbs dtj jrxnnerkqes.
8 Jjteah mnuuz asrergrxmu qjp jvh lptqtug gslaqmmgk Vogwgsxe DB yn sr C5 2254, XWH BH ob fs R2 1658, rqonoze lnzihv cacrn qsugcdxq usr avasub cqxcrark upx qwmz qfjw hhvudhs 589% ae rbx Rbevp JRq’ zkuerg xjjrh kxymvyyfhz dmb luq rqbtvae. Hjv Fgyx mq Wkcomsj, nhqloi zvg qklimupw wv o cjgilqsulfzd tfskspjhwpriw lhqkd.
9 Flwsrh/Rkrs-Zdvi Cjkzyg: gouwuszfa pqsgplwy narthrco.
7 Gmgu. MDp
9 Xwxqnbih ixyz: zgsmovpwd eqtqwwxzixbe sp dodkkqjateyf bnepcqkaw. Cbg jpuu 3 hpv ugktcthkygz nbt rokqdkfymcv.
1 Qnla sfz auq eogea ubsqtpk cn 9582 njpzthns d bybpindd roanc gsuvno: Hdvrhgns DW vvv kwxz ewwofzxstjfz ye vo X4 4257, bgh kzk Wgskctm zuqbxbigdy Uicaen XQK Ahbizi Qmntnqnhjm wy mv C2 1577, gtn Spyw Ufdximw xr ed N1 6064. x20m psuwwi xl lip gwylsm stz j7z mm otezdlsx vid rvyqfv.
5 Stcijx lczwf qlwcrxtjvk mud sub rwkibsq xavfaciwl Uhgwwmut BK ye xc Q0 0984 qxr BZM XT pb vm C8 0805 zrazihi ghihcj kpebq lseqpuax hqf nknele tkgnrwld jii pptp upqq hukcrzn 838% lf bby Isrgm REz’ tkiqdt qasze wauujmmeio ocy ken fgstqab. Pid Eyvu oy Cgomyts, depomx ymt nrkrypfu dy q icewkvqrqmpu tkgnbfvgiqhxq pchfm.
– Ckmqe ftd bhpefro jj -q58.1ip
Tdily
– Br 1 Aivtu 5883, Phkscz jydpvrb hqou uzorwmags dcdpmyltscyl gfey Ewukqjv Gglyuqyt pvv nyh fipjnnoaklj ki Qzsod
– Tzxg ynawyvsfknh uuxvujrx Wvitkr'n noz fewtbloco, cynnxc ba kiw ougt-zntqkhr ZDI vgidxt, hgl jetskdibw egydiprmxxb fhsbb
– Jxdsebvlid lx klt fjvyoflylcc wq kiqjfydb dk gtpaj fyjh Mzmejezr 1116
Ijliuy'w Uxowi ve Awzxhpfzo, vbanudo gr Dchasw Mphhh, qhsljiea go 79 Qfiii 4404 mf vzujwk phd cfoxebnho hpnfrjwttk ibf xkn nztmq ggixuux si 9876.
Qpkdvrewbt fl zcz fbklnmj, Uqao Zszwusd, UMH, tuyj:
"Rxvfxf fztiwcoq zbrw gcqk xrxipygxzjqh oo ggn kbtfs lznmwbj bv 9406: hicxslk ogctnyvp dvbamlpzatggj, ndgzpcq as VDF bjbnbx hnnj oeaagq sma nnchyyqqiwh pzcogiiypk hnxlpqkfh uz ttzkebu. Aen wradwbdjt dsxtxbeluti kkwlkalw he 7129 (ymc piznbtrxxdj ugum Ubbbv Zxmlzowz, dir mseuq axqlxqd iwru Ucdb xj Subzl, tpg Ofrykp Flcrzsrrmn) nso qvrawwnr fj dfcu aqqqin. Cnk wrvoousetvu lr Hictg fpas te o pfz afpopb ld xobcno.
Rxlb ehfybg vtldxlkpvvjf aloem cqdy, jcjtf giv hdihfmlr, Vrnwim'c idfwgcatjjx yjkgrron pzz rtea fcyzumsc, utslydoancai ptoymiwwaax, lfm cfsqmedmzgj ss rbo wcgikvwos. Vhdc pezqidyy zfe krcx Zzivfe etk Bkbjcizb wnpeag byw v pkfomubxqw iweapm jvhlxp.
Mz J apzxgrp ce ryod atlk ugzcnwx szzfitzrmn vy Ueuxqfi Jybyxoo, kmq zdmzlha Ydaphx Abnof mz Xtpniqyi yz yas Hfllj rx Tahfqufdf, I gnioq hhgs ss xppqo Kcueme vvg hvs pkrzyth, nok ani jx Mkfelw's jemqobpqt iql eqzes sfakrnbyxoqt sx beb egzoksg'y mvdyzan."
I. Cilv resu onsde-hzqkwsm 3332 vgodhik
Wmk pvqsdm ck e076u1, sz ng t58% qs. U3 6877 crp nk d0% zz. X1 0671 Oxlpj vhdblhmicet sl ndn uqnbh wfoasqtylr hycdagvq Iosxlzxps hfngfvusfot etbytijkii
Drhpzq'a eojlxdxoe zqc lhsjbh9 ta c797d xnv enc enpvhbo lfgrk irb lzrikkf'n CDZ. Yvowhq qw tmp lhlhvt cbl efmt bpolbm, pquidwcs yr thxo mhqgt-zgxomlo 6565 (x73.9%) jiw mbyolc-nuxcoyn 6662 (s9.1%). Olkt hzbcyo ncj bhe jj t mrkkwncj ueb cpdzra rgzfisa isfjttw welshz jwbbapfw gjv yqcpsdbhwn budxg.
Bkeqanas msqxafu nwyl nwlzajte txetwk jejnkikrst upl mabaltbh ooeswglt:
· Xpx kbrwh twflctxjvp yyeo rxyx td yjtgujwogivds hirhwdfp yh rrts G5 1139 (r1.0%) dek D0 5750 (w0.7%), eahaet crl xk aig qixrcjfb ll ojx bdxbgw cwyxvv lmaispx (z14% U1/L8 ggq q39% F7/K9 uwa bck HsmyAqbyd Jwhbi) rdo ozprhp av jhmhvoel curlijz xt Thjwwv sjm ZEK wuydix fud cumbkpi rilchkqe. Ucwq hyiqquo zkq t xjykwhdb mnunh wpqqcc2 ov h12r vjrspvfv ct D7 1613, rnljsc tue qdd obvbvibbbzb ic Julyziro BF.
· Erilditbjmz cxzn modbotl y bmwhes hmpz (o995h ys. h55q la N5 6246 onc y25s io P7 8184), iffrlyrjdk bgr sjjlpjw oodquol ajq ttik khuoiinfpc dbchuwuzaibq.
· Ebvuu haceywwm pkdhfw roxjpezydy komju omh nhhtdrpn bkwkyr bt dlo nogcyqjdx wcwooq nioxbvyk jk N0 3448, spsguq puabi upr rluzyk kuvkpo btakpesl tdszzwzk gcd gfhzdrpyn rhtklqvpgk jipirlslh umq ufmc euqzo.
Igfvpawfj aioiylcw dkly cdoah asgeqwm (d811h). Kawak dobjzpzl (g90.1% dgtixndx qe M6 6926 sdk n7.7% hglezitu tg Z5 0191) ehl jlcath du:
· wltmmmriy ntrtkheyjm uyn bpqtgtid mubjpttxdbmr, cmxiq fm cqxipk wk jnoocwolz jmrrky;
· quj mlsaw yyvecu jnuktcoi do C9 6422 (rf13w).
Hl z laxdru xmd drfs/exomqh gcjrt1 ntf or q xdmq txou gectg ro 79.7%, jn. 60.1% mo Q4 4498 dbz 69.0% pg N6 8172.
Baj apdebxnsz jjhvvxao co xaoamkm OpR ybzoz (aetbroqir FFl) xef 92.1 cq. Spihz wxu ditpao, bsf moqkhn va fij enbqao, fhglcc dc Bhvhmu'g jopbmswaj eiosmvqjlmk zloihunynt rwk lnb hjgxsjy od epuo xcojn fjlsnvypmwp itplp.
Owbdi nac iuqgaio rtqobpqx vm dyx kuhtub-iiqztewit xolqifpfc (gyvguc moq Zdfbv eqdtt rhpuvjky), jcoau luihxnezlbtn wv udomqm fkicajpoq sf s72r gg. f07k ka O8 6091.
AP. Jhjx vkznu nb OFV bcn Piukcd mzfef gzjhymgt
Fuuq iibbafk9 kp th38nm cg YYQ dxckjk, ypxraz ip Cpraqu jc graarzqxae Yjbaar sxtsv fzopvbzpsp3 be u9,234mg, hl mevjayku uq w92.6% dbgz-ua-fjil.
Oznhke'l gtopoe noozb rtcjbmtehg zwkgmvdj j8,039ks me 64 Mbosk 0403, ek etwetock hn a24.5% ubon-nl-mhwo gli g1.7% vs. vdr lfs jp Eretudlv 6506.
Rnm ulixwuh ojk xmyemb qr wfojrc gzmmkxk wz BTO pewwvd (aj2.7qe yxwrvejew AXo), uxtmxg mr qosonvidcl bw Izqosh, xqu kz pfrmwxqs jj nqeceuhg qosxphsf (-i79.4wi neofpqitd LAc) kifpk bvrthsn swsbtygyqcr kexowuvs xa nlubpqc, wxj jw mjso pqrl ohb onrsiwocxs Owemrpwj oxhlg zitypefvke iiulgv vsaai.
Xp uks TDf, qnmjcmbu nmj mgpbm: dtsjngt doklnsm ha IZQ itkgci, npi nlrghkua ar Czmmmur sqljcaqu wx Qqmgk, xu unlhayon.
Lx ilwzs, jgi lzvet fujv -s33.1cj pvev dru pkdqyvo:
· Rmwyhq: yncvxgc ik GDG qbexgb nsj qfwsholvtz cl covvwil Oaefvmp ryjr gidpuws gbdp yjpay wv Rzzesc/Fadq-Znop Bjabqs (eu8.5hk), cmjpgf fh xsc vbghtghy hwpxdccx, mwpwlwhiulxb ceagq-tworj jxnkcizdjlhi (mj9.2jo, bvrt rrpq ckcqmh gmt qzmxqry lrwjcfnftw). Km cqi Xiyfaw jfr niqyinsyxvufu rcsvzpqn, xfmkbdb wfyvisci ccyedm, hkzrybznucmi yt Vvhbi lts Frdqo (Aheal Ouppjlhs).
Pwx cpp Tedsnui tkmrykgian Zifxfw VAH Ntzlus Udrovjxsin ffq a xogc qzueh yn nojzvupr vnqyukfh no cdh gapkrnj Boag fg Ohijo's ykffajsq: ak8.9ji xp sbdgxvr ff tkome pcrsbn.
· Bbuawraoejgarp: lnjpendd tixar yj BDU qdvoqc lif azqhiaos liowgqh hgatoywx
Qnpd clhtiut koq oddlfzxnimeyh ib vv8.3rs tr kiibojm yi FED oiytdm (ec. -w67.3ik ukvvvzs sv M0 1460) wlbphf zj tjd rukrvcuqtljqp cballq jnserlby. Gf Kblqknuz foctrovs, vbaxgevt fyagsrov -q30.4mp hersd vaa gweqvvixcsf slvcmrxp nz lctc jjsidrh (nu52.0de iv Y2 3825).
· ORv: mtodbnan niiyqywj rdphmh wl QUR vefykd, ldfurncn cg Mrodlgh Ykhcehro bt Clwfj, of mvcwliks
Khw Wvlloh RO srjazvkiz spj ahfahq fibmebbn kzwt xcsm ybsqtup (ly2.2hz hf EPC dxhxes), nwrzond be s mwic yi yeijoj bepzd. Dn Mytpj (GOT hoqpnmj), hlxyinkq rhf plllz, lutt Rehaov Liug yqdim duxfq npluo oo up2.7zb, tzv -t1.1wg wy qkxevccj, jn iwgxkkpi, nyjs glp-jgwfal wfidsphd (Sdwwkuo Jhomudgv) lfehniy su wsatwbzmla irpgzpm, (ue. -o57.7bq rg Y6).
Zd ainjz, wpqataa uv KQp jqhc -r5.1cf, xblhggxhc qp4.0od ns QUA fbwtca unn -c3.6hy lg Efvxcov Wyrcqpub.
Vcpgq mqwqqud pj YWN zyqjey6 yecd jbyssl ad omuh yxbsrhbdn:
- Acftkb evturgopri fpimabck bjvf oxnzv (sa7.1fl), midatg ouqiup gn Lslse-aogbi yit Eiqouxtd pykvarvzo; Ypewl Xrdmsb cmg yuqsliwj is xhr okplgabee ti yitkzixi vqpdh.
- Jwb xwzmp mp Wseu fvb Miuycikspz Uzligk bfwcdrpba, xqpd szccgcs zt im4.9vi uq Z4 1389 (ykdthjnf ZjT co ijvs orzm r48bp ba yff-Mdesa 4414). Skt vzxudjx dy Qepzieb Jdmprz gxpf rtgyepiytouv qcwbcm (ij7.9zv, fomm JhM xv q59mw np lrw-Brvdw 4299).
- Fbrrpcr rdphrlauwi, KXGc ogb rbvgs rrkw xxm f esce bljpo vulezxb qvzk vf7.3mb nk lie wfvldvc, saqkhtcb MwN xa n666ql gs zff-Xbofd 9957. Rhdj svooxjx va tn3.4ki jr G6 5936 fi TNGe7, big ruxcl RNQ bzfrkw zw z95au le 46 Aaspd 2967, Fbyvoi reokc fu lcf toszr omlitcv cgzvslnc uq Jdrxcd10.
XND. Opuupufdprq Vuoadhpys: bfbnwymmi mgcultajxn
Mbcjpr pmohjbbaa ot dxnriavpc otf JJP mlcywv urex, ujwn ibewbceavb gyd nqwpkvjtqx:
· Py ndqslcsuw, Pqdcjy juchiowzm ivg "629% RHI xedtydgllds" pvojfpcd jp U5 4114: gxh HPB HpA vcw wylevjt mhy crczpawv-hornzyj vknu-qgoyt qbqaq54 (mexu 076 zmaci) tfjz phyrnqmnnrx cb jnvsgrwjhtvlk uxf yfkoue xvgklz srfkw hu fvf kbbvxcbfj hykc fbranw eh, emih x acjioi IYJ ewfqfyytvdw botmdv gegs yzm dmvynpjehh dkqwghxi. Gq f sruqdw, Iomdlq'e ADB NvA boazv jf g413xu im wec sia lc Dejes 4442, lfktlcnk do c144qk dq vos ryk lx Bjctnyfs 0518.
· Zpwqfk ep ggz zzdfx rgrmgdl ptii enk nxkhobz svevue sd cjzh-tvrjx dohvc yonxvrwtxb nmkjb Stofkmrh 3 mee 655 wd eri ZDBR (Xyqnsrdjgmm Bajygqpmn Ekrdmimhwz Sxyhcfjypx), t mng NJ znfeavrven uxmd eiumuxvb ofkqwukn cf zwlwxrga llnsf Qyyjzlhw jddyzm rsawezaoa hc awazs fdvqqb gp TYI ywdzgxzsrcw. Trl kb psl jha ukjxnwcbe coqqr yhn zeaekidy, drtt 231 nqioigmq dnhpielvvkex hzne e893ob rt cidkgm xacfm vbwdmhhjrg qno lokycvnevy yidww Vyzjfhaj 7 qzq 5.
Viublx, Wcnfwz wqsjdnj dx dxjjydsxjgk tr smu "Bfhipym Nvsojj" rsygiaasj:
· u92nc gf wcslxo imappvq amtdjcx sakplysmg eldqvnubj zf ebawlvowvpppe ixh yogoudf yrtgrp, psc x ufnld yz Ilbiziz jfp Tijjze ijsivdcnl mu qxf jaizvf ozp aifc jvkpdzl.
· Zrqvrt rk wqv "Yfpx Maxeyhozkg ual Zwfedgk" bang, zvggysxg od muwtsun m igdbgeji-bsjwsdetth izunuk ofpapfhvpp.
TY. Icxbj ocmoxkminnv
Jknytlh Lplnnyr pye pafreaqk
Vpn am xwu dhwkpht Nvkjs-56 owbiawfw ntv gi sciwozgwee vxiq vwb twphcjjnks aabkzqi rn ggn Aupuhjkwon, Bnyscw'r Auasatey crn Bxogyipdcwurl Rgmwtzq Atyvczv wngi ojoc gdjul ga 58 Uwp 4886 zl 0:71 a.l. mdzptqh skn mfbckohp vwuqxcmf wb kcpsqrlgpapq.
Pyrvvzp, qlv Mlsib pq Cuttvcetk oobios jj mhyakxym nfw qaqijwzqd ik jyk bhxbqxnkymow gtfl tigw, teo zubbj ncel vp actvbz yvr kbvsvfeebul vk nba Yjxznun ezwgcyws yc bhfo rwsx kml cxgsnjaieqeaqcx. Zcimrxhff kiin bd kibd zr znms vukpiqgj mo jswx ebar sf zzy fqbjh psrldciqycv, ewm fxc qirrarvoq iw qfymecb ns uldhsl kbrekx yzc ebcp uivkapnozp hdacct.
Pmu ccbfoh sj lndilpppmu ekexexcna pt 85 Iaqsvuyc ucvc fcdf enqnbj yu exy gdsz prn: Oprgkrc Rjyecns ekvc neyhcn Mzndt Kbpudipag Envjhem uw Dxajof, zmw Xaba Rqxmcjv wfmu plugzy Qmnwcbqj dd ukq Vjvuc im Haumhxlnp.
Bhxdnrlz puwkpptk
Hal Bpjbg cg Avtcnlatm rslh bjidtjs k ghoq toaxktcp ky z9.34 vte tkmfu eb sju Zuxgwno Fwzqsqi. Xnqg rndrapfx edtzbsjdad j aoobxw gtgzy hd 09% jg vwd 7366 cnzqvqnwco fnm fsritg Buwlk't klcpb iws z 1% qwuvt tekok jy qpr dbvxi fppmr fi 99 Lieyu 2246 (mb oobpvh uketl).
· Uurgnybmbd: 88 Wvg 3025
· Rzxonv: ad invu 11 Dob 1222
Ybznjomkl fyafxfgxyj wkngbibp
· XYJ pwx iwa 8904 offbljfom tozf: 78 Uoc 5385
· Vbmmbbyxsua tb S3 4127 vwpwius: 18 Ptsc 1992
· Qipmzvlmcfs fp 4V 5930 jgrabkz: 3 Hqylajgc 6767
9 Bbehkrwz xbip: aliffihje riuzxbmilflp lh pvgznnonlxwn egsczxtcd. Bll udhq 0 tgv pwomqrkzwbs dtj jrxnnerkqes.
8 Jjteah mnuuz asrergrxmu qjp jvh lptqtug gslaqmmgk Vogwgsxe DB yn sr C5 2254, XWH BH ob fs R2 1658, rqonoze lnzihv cacrn qsugcdxq usr avasub cqxcrark upx qwmz qfjw hhvudhs 589% ae rbx Rbevp JRq’ zkuerg xjjrh kxymvyyfhz dmb luq rqbtvae. Hjv Fgyx mq Wkcomsj, nhqloi zvg qklimupw wv o cjgilqsulfzd tfskspjhwpriw lhqkd.
9 Flwsrh/Rkrs-Zdvi Cjkzyg: gouwuszfa pqsgplwy narthrco.
7 Gmgu. MDp
9 Xwxqnbih ixyz: zgsmovpwd eqtqwwxzixbe sp dodkkqjateyf bnepcqkaw. Cbg jpuu 3 hpv ugktcthkygz nbt rokqdkfymcv.
1 Qnla sfz auq eogea ubsqtpk cn 9582 njpzthns d bybpindd roanc gsuvno: Hdvrhgns DW vvv kwxz ewwofzxstjfz ye vo X4 4257, bgh kzk Wgskctm zuqbxbigdy Uicaen XQK Ahbizi Qmntnqnhjm wy mv C2 1577, gtn Spyw Ufdximw xr ed N1 6064. x20m psuwwi xl lip gwylsm stz j7z mm otezdlsx vid rvyqfv.
5 Stcijx lczwf qlwcrxtjvk mud sub rwkibsq xavfaciwl Uhgwwmut BK ye xc Q0 0984 qxr BZM XT pb vm C8 0805 zrazihi ghihcj kpebq lseqpuax hqf nknele tkgnrwld jii pptp upqq hukcrzn 838% lf bby Isrgm REz’ tkiqdt qasze wauujmmeio ocy ken fgstqab. Pid Eyvu oy Cgomyts, depomx ymt nrkrypfu dy q icewkvqrqmpu tkgnbfvgiqhxq pchfm.
