DOEPE 26/02/2015 - Pág. 30 - Poder Executivo - Diário Oficial do Estado de Pernambuco
30
Diário Oficial do Estado de Pernambuco - Poder Executivo
COMPANHIA ENERGÉTICA DE PERNAMBUCO S.A. - CNPJ nº 10.835.932/0001-08
Circulante
,QVWLWXWR1DFLRQDOGH6HJXULGDGH6RFLDO,166
)XQGRGH*DUDQWLDSRU7HPSRGH6HUYLoR)*76
,PSRVWRVREUHVHUYLoRV,66
2XWURV
7RWDO
2014
|
CVM nº 01436-2
2013
26. DIVIDENDOS E JUROS SOBRE O CAPITAL PRÓPRIO
2&RQVHOKRGH$GPLQLVWUDomRHRX$VVHPEOHLDGH$FLRQLVWDVGD&RPSDQKLDDSURYDUDPDGHFODUDomRGHGLYLGHQGRVSURSRVWRVHMXURV
VREUHFDSLWDOSUySULRDRVVHXVDFLRQLVWDVGDVHJXLQWHIRUPD
Valor por ação
Deliberação
Provento
Valor deliberado
ON
PNA
PNB
2014
5&$GHGHGH]HPEURGH
-6&3
$*2GHGHDEULOGH
'LYLGHQGRV
2SDJDPHQWRGRVMXURVVREUHRFDSLWDOSUySULRHVWiVHQGRFRQVLGHUDGRQRF{PSXWRGRGLYLGHQGRPtQLPRREULJDWyULR2DUWLJR GD/HL
Q GHGHGH]HPEURGH SHUPLWHDGHGXWLELOLGDGHSDUD¿QVGHLPSRVWRGHUHQGDHGDFRQWULEXLomRVRFLDOGRVMXURVVREUH
RFDSLWDOSUySULRSDJRDRVDFLRQLVWDVFDOFXODGRVFRPEDVHQDYDULDomRGD7D[DGH-XURVGH/RQJR3UD]R7-/3'HDFRUGRFRPR
SUHYLVWRQRHVWDWXWRVRFLDOGD&RPSDQKLDDVDo}HVSUHIHUHQFLDLVFODVVH³$´WHUmRGLUHLWRDRUHFHELPHQWRGHXPGLYLGHQGRPtQLPRQmR
FXPXODWLYRGHDRDQRVREUHROXFUROtTXLGRHQRUHHPEROVRGRFDSLWDOVHPSUrPLR$VDo}HVSUHIHUHQFLDLVFODVVH³%´WHUmRGLUHLWR
DRUHFHELPHQWRGHGLYLGHQGRVQRPtQLPRVXSHULRUHVjTXHOHVDWULEXtGRVjVDo}HVRUGLQiULDV$EDVHGHFiOFXORSDUDRVGLYLGHQGRV
PtQLPRVREULJDWyULRVpFRPRVHJXH
Dividendos mínimos - sobre o lucro líquido
2014
2013
$o}HVRUGLQiULDV
$o}HVSUHIHUHQFLDLVFODVVH$
$o}HVSUHIHUHQFLDLVFODVVH%
7RWDO
Dividendos mínimos - sobre o lucro líquido ajustado
/XFUROtTXLGRGRH[HUFtFLR
,QFHQWLYRILVFDO68'(1(
$EVRUomRGHSUHMXt]RDFXPXODGR
$PRUWL]DomRGRiJLRLQFRUSRUDGR
5HYHUVmRGDSURYLVmRSDUDPDQXWHQomRGRSDWULP{QLROtTXLGR
%HQHItFLRILVFDOGDDPRUWL]DomRGRiJLRLQFRUSRUDGR
%DVHGHFiOFXORGRGLYLGHQGR
Dividendos mínimos obrigatórios
Dividendos e juros sobre capital próprio pagos e propostos:
-XURVVREUHFDSLWDOSUySULR5SRUDomR21H5SRUDomR31$H5
SRUDomR31%
'LYLGHQGRV3URSRVWRV±5SRUDomR21H5SRUDomR31$H5
SRUDomR31%
Total Bruto
Imposto de renda retido na fonte sobre os juros sobre capital próprio 15%(*).
1DSDUFHODGHDFLRQLVWDVLPXQHVQmRRFRUUHDLQFLGrQFLDGHLPSRVWRGHUHQGD$PRYLPHQWDomRGRVVDOGRVGHGLYLGHQGRVHMXURVVREUH
FDSLWDOSUySULRDSDJDUHPGHGH]HPEURGHpFRPRVHJXH
6DOGRHPGHGH]HPEURGH
'LYLGHQGRVHMXURVVREUHRFDSLWDOSUySULR
'HFODUDGRV
,PSRVWRGHUHQGDUHWLGRQDIRQWH,55)
Prescritos
6DOGRHPGHGH]HPEURGH
27. PROVISÕES
$VSURYLV}HVFRQVWLWXtGDVSDUDULVFRVWUDEDOKLVWDVFtYHLVH¿VFDLVQRPRQWDQWHGH5 FODVVL¿FDGDVQRSDVVLYRFLUFXODQWH 5
HP H5QRQmRFLUFXODQWH 5HP VmRFRPSRVWDVFRPRVHJXH
Contingências
Trabalhistas
Cíveis
Fiscais
Total
6DOGRHPGHGH]HPEURGH
&RQVWLWXLomR
%DL[DVUHYHUVmR
$WXDOL]DomR
6DOGRHPGHGH]HPEURGH
$$GPLQLVWUDomRGD&RPSDQKLDFRQVXEVWDQFLDGDQDRSLQLmRGHVHXVFRQVXOWRUHVOHJDLVTXDQWRDSRVVLELOLGDGHGHr[LWRQDVGLYHUVDV
GHPDQGDVMXGLFLDLVHQWHQGHTXHDVSURYLV}HVFRQVWLWXtGDVUHJLVWUDGDVQREDODQoRVmRVX¿FLHQWHVSDUDFREULUSURYiYHLVSHUGDVFRPWDLV
FDXVDV7UDEDOKLVWDV 5HIHUHPVHjVDo}HVPRYLGDVSRUH[HPSUHJDGRVFRQWUDD&RPSDQKLDHQYROYHQGRFREUDQoDGHKRUDVH[WUDV
DGLFLRQDO GH SHULFXORVLGDGH HTXLSDUDomRUHHQTXDGUDPHQWR VDODULDO H RXWUDV H WDPEpP Do}HV PRYLGDV SRU H[HPSUHJDGRV GH VHXV
HPSUHLWHLURV UHVSRQVDELOLGDGHVXEVLGLiULDHRXVROLGiULD HQYROYHQGRFREUDQoDGHSDUFHODVLQGHQL]DWyULDVHRXWUDV
Valor provisionado
Contingências Trabalhistas
Valor atualizado
Instância
Expectativa de perda
2014
2013
([HPSUHJDGRVGD&RPSDQKLD
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
([HPSUHJDGRVGH(PSUHLWHLUDV
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
(PSUHJDGRV
H
3URYiYHO
H
3RVVtYHO
41
H
5HPRWD
7RWDO
2VYDORUHVIRUDPDWXDOL]DGRVPRQHWDULDPHQWHSHODYDULDomRGRtQGLFHGHDWXDOL]DomRGHSURFHVVRVWUDEDOKLVWDVGLYXOJDGRSHOR&RQVHOKR
6XSHULRUGD-XVWLoDGR7UDEDOKRDFUHVFLGRVGHMXURVGHDP&tYHLV 5HIHUHPVHjVDo}HVGHQDWXUH]DFRPHUFLDOHLQGHQL]DWyULD
PRYLGDVSRUSHVVRDVItVLFDVHSHVVRDVMXUtGLFDVHQYROYHQGRGDQRVPDWHULDLVHRXGDQRVPRUDLV
Valor
Expectativa
Valor provisionado
Contingências Cíveis
Ref.
atualizado
Instância
de perda
2014
2013
&OLHQWHV±7DULIDV3ODQR&UX]DGR
D
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
,QGHQL]DomRSRUSHUGDV
E
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
$FLGHQWHWHUFHLURVWUDEDOKR
F
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
&RPHUFHQHUJLDHSURGXWRV
G
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
,UUHJXODULGDGHGHFRQVXPR
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
(PSUpVWLPRFRPSXOVyULR
22
H
3URYiYHO
22
H
3RVVtYHO
H
5HPRWD
,OXPLQDomRS~EOLFD
H
3URYiYHO
1
H
3RVVtYHO
H
5HPRWD
1HJDWLYDomR63&H6HUDVD
H
3URYiYHO
H
3RVVtYHO
140
H
5HPRWD
6RFLHWiULR$o}HV
H
3URYiYHO
10
H
3RVVtYHO
5DFLRQDPHQWRGH(QHUJLD(OpWULFD
H
3URYiYHO
22
H
3RVVtYHO
4
H
5HPRWD
2XWUDV
H
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
7RWDO
|
Recife, 26 de fevereiro de 2015
Companhia Aberta
2VYDORUHVIRUDPDWXDOL]DGRVPRQHWDULDPHQWHSHODYDULDomRGR,13&DFUHVFLGRVGHMXURVGHDP D &OLHQWHV7DULIDVSODQRFUX]DGR
$o}HVPRYLGDVSRUDOJXQVFRQVXPLGRUHVLQGXVWULDLVHFRPHUFLDLVTXHVWLRQDQGRDOHJDOLGDGHGDPDMRUDomRGDWDULIDGHHQHUJLDHOpWULFD
RFRUULGDQDYLJrQFLDGR3ODQR&UX]DGRFRQIRUPHSRUWDULDVQsHGR'1$((GHGHMDQHLURHGHGHPDUoRDPEDVGH H
SOHLWHDQGRDUHVWLWXLomRGHYDORUHVHQYROYLGRV E ,QGHQL]DomRSRUSHUGDV7UDWDVHGHDo}HVLQGHQL]DWyULDVPRYLGDVSRUSHVVRDVItVLFDV
HMXUtGLFDVHPIXQomRGDVDWLYLGDGHVGD&RQFHVVLRQiULD$VDo}HVHQYROYHPSHGLGRVGHUHVVDUFLPHQWRGHGDQRVPRUDLVHPDWHULDLVHP
YLUWXGHGHVXVSHQVmRGHIRUQHFLPHQWRGHHQHUJLDHTXHLPDGHHTXLSDPHQWRVEHPFRPRSHGLGRGHUHVVDUFLPHQWRSRUGHVFXPSULPHQWR
FRQWUDWXDO F $FLGHQWHGHWHUFHLURVWUDEDOKR5HIHUHPVHDGLYHUVDVDo}HVFtYHLVPRYLGDVSRUSHVVRDVItVLFDVQDVTXDLVD&RPSDQKLD
pUpHQYROYHQGRGDQRVPRUDLVHRXGDQRVPDWHULDLV G &RPHUFLDOL]DomRGHHQHUJLDVHUYLoRVHSURGXWRV -5HIHUHPVHDGLYHUVDVDo}HV
FtYHLVHFRPHUFLDLVPRYLGDVSRUSHVVRDVItVLFDVHMXUtGLFDVQDVTXDLVD&RPSDQKLDpUpHQYROYHQGRUHSHWLomRGHLQGpELWRUHYLVmRGH
GpELWRGHFRQVXPRPHGLGRHQmRPHGLGR LUUHJXODULGDGHGHFRQVXPR FDQFHODPHQWRGHGpELWRUHVWDEHOHFLPHQWRGRIRUQHFLPHQWRGH
HQHUJLDHOpWULFDDQXODomRGHGtYLGD H 2XWUDV 5HIHUHPVHDOLWtJLRVFRPDJHQWHVDUUHFDGDGRUHVGHFRQWDVGHHQHUJLDHOpWULFDEHP
FRPRGHPDQGDUHODWLYDjPXOWDFRQWUDWXDOFRPIRUQHFHGRUHVGHHQHUJLDHOpWULFD)LVFDLV 5HIHUHPVHjVDo}HVWULEXWiULDVHLPSXJQDo}HV
GHFREUDQoDVLQWLPDo}HVHDXWRVGHLQIUDomR¿VFDO
Valor
Expectativa
Valor provisionado
Contingências Fiscais
Ref.
atualizado
Instância
de perda
2014
2013
,&06
D
H
3RVVtYHO
H
5HPRWD
,66
E
H
3URYiYHO
H
3RVVtYHO
1
H
5HPRWD
&30)
H
3RVVtYHO
&6//
G
H
3URYiYHO
H
3RVVtYHO
7/),378
H
3RVVtYHO
H
5HPRWD
3,6&2),16
H
3RVVtYHO
&2),16
F
H
3RVVtYHO
,53G
H
3URYiYHO
H
3RVVtYHO
H
5HPRWD
7D[DV'LYHUVDV
$GPLQLVWUDWLYD
3RVVtYHO
$GPLQLVWUDWLYD
5HPRWD
2XWUDV
H
H
3RVVtYHO
12
H
5HPRWD
7RWDO
2VYDORUHVIRUDPDWXDOL]DGRVPRQHWDULDPHQWHSHODYDULDomRGDWD[D6(/,& D ,&06 D $XWRGHLQIUDomRODYUDGRFRQWUDD&RPSDQKLD
HPGHFRUUHQWHGDXWLOL]DomRGR,&06GR$WLYR)L[RQDVDTXLVLo}HVGHFRPSUDVFRPHQWUHJDIXWXUD$&RPSDQKLDUHFRQKHFHR
FUpGLWRHLPSXJQRXRDXWRGHLQIUDomR D $XWRGHLQIUDomRODYUDGRFRQWUDD&RPSDQKLDHPGHFRUUHQWHGDVXSRVWDXWLOL]DomR
GR,&06GR$WLYR)L[RQDVDTXLVLo}HVGHIRUQHFHGRUHV0LFUR(PSUHVDHFUpGLWRVHPGXSOLFLGDGH$&RPSDQKLDUHFRQKHFHXSDUFLDOPHQWH
DSURFHGrQFLDGRDXWRHUHFROKHXRYDORUTXHHQWHQGHVHUGHYLGR$GLIHUHQoDUHPDQHVFHQWHIRLREMHWRGHLPSXJQDomRDGPLQLVWUDWLYD
D $XWRGHLQIUDomRODYUDGRFRQWUDD&RPSDQKLDUHIHUHQWHjGHGXomRDPDLRUGR,&06HPYLUWXGHGHGLYHUJrQFLDQDPRGDOLGDGHGH
LQFHQWLYRFXOWXUDOXWLOL]DGDSHOD&(/3(HPDOJXQVSURMHWRVGH D $XWRGHLQIUDomRODYUDGRFRQWUDD&RPSDQKLDHP
GHFRUUHQWH GD XWLOL]DomR GR ,&06 GR $WLYR )L[R QDV DTXLVLo}HV GH &RPSUDV FRP (QWUHJD )XWXUD H 0LFUR (PSUHVD $ &RPSDQKLD
UHFRQKHFH R FUpGLWR H LPSXJQRX R DXWR GH LQIUDomR D $XWR GH LQIUDomR ODYUDGR FRQWUD D &RPSDQKLD HP GHFRUUHQWH GH
,&06GRGLIHUHQFLDOGHDOtTXRWDVLQFLGHQWHVREUHDTXLVLo}HVIRUDGR(VWDGR$&RPSDQKLDQmRUHFRQKHFHRGpELWRHLPSXJQRXRDXWR
GHLQIUDomR D $XWRGHLQIUDomRODYUDGRFRQWUDD&RPSDQKLD HPGHFRUUHQWHGH,&06GLIHULGRQDVDTXLVLo}HV GHHQHUJLD
HOpWULFDIRUDGR(VWDGR$&RPSDQKLDQmRUHFRQKHFHRGpELWRHLPSXJQRXRDXWRGHLQIUDomR E ,66 5HIHUHVHDGLVFXVVmRVREUHD
QmRH[LJLELOLGDGHGHFUpGLWRVUHODWLYRVDDXWRVGHLQIUDomRODYUDGRVSHOD3UHIHLWXUDGR5HFLIHHDOJXPDVSUHIHLWXUDVGHFLGDGHVGRLQWHULRU
GRHVWDGRH[LJLQGR,66VREUHVHUYLoRVWD[DGRVHVHUYLoRVSUHVWDGRVSRUWHUFHLURV F &2),163URFHGLPHQWRVUHVXOWDQWHVGHDXWXDomR
¿VFDOSHOD6HFUHWDULDGD5HFHLWD)HGHUDOHQYROYHQGRD&RQWULEXLomRSDUD)LQDQFLDPHQWRGD6HJXULGDGH6RFLDO&2),16DLQGDHP
MXOJDPHQWRSHUDQWHDVLQVWkQFLDVDGPLQLVWUDWLYDV¿VFDLV G ,53-&6// G 3URYiYHO$XWRVGHLQIUDomRQRVTXDLVVHGLVFXWHOXFUR
LQÀDFLRQiULRDFXPXODGRUHDOL]DGRHPYDORULQIHULRUDROLPLWHPtQLPRREULJDWyULRFRPSHQVDomRHDQWHFLSDomRWRGRVDLQGDHPMXOJDPHQWR
SHUDQWHDVLQVWkQFLDVDGPLQLVWUDWLYDV¿VFDLV G 3RVVtYHO$XWRVGHLQIUDomRODYUDGRVHPHUHIHUHQWHDRVDQRVFDOHQGiULRV
DHQRVTXDLVD5HFHLWD)HGHUDOGR%UDVLOQmRUHFRQKHFHXDGHGXWLELOLGDGHGDVGHVSHVDVFRPDDPRUWL]DomRGRiJLRJHUDGRQD
SULYDWL]DomR2VDXWRVHQFRQWUDPVHDJXDUGDQGRMXOJDPHQWRGR5HFXUVR(VSHFLDOQD&kPDUD6XSHULRUGH5HFXUVRV)LVFDLV H 2XWUDV
3URFHGLPHQWRVUHVXOWDQWHVGHDXWXDomR¿VFDOSHOD5HFHLWD)HGHUDOGR%UDVLO5)%HQYROYHQGRGLYHUVRVWULEXWRVDLQGDHPMXOJDPHQWR
SHUDQWHDVLQVWkQFLDVDGPLQLVWUDWLYDVH¿VFDLV
28. OUTROS PASSIVOS
Ref
2014
2013
&RQVXPLGRUHV
D
(PSUHJDGRVDGLDQWDPHQWRDFRUGRFROHWLYR
20
&RQWULEXLomRSDUDFXVWHLRGRVHUYLoRGHLOXPLQDomRS~EOLFD&26,3
&RQYrQLRV
&DXomRHPJDUDQWLD
E
)*76&RQWDHPSUHVD
(QFDUJRV&%((
7D[D,OXPLQDomR3~EOLFD7,3
F
$GLDQWDPHQWRVUHFHELGRV
G
&RRSHUDWLYDV$TXLVLomRGHDWLYRV
H
2XWUDV
7RWDO
&LUFXODQWH
1mRFLUFXODQWH
D 2EULJDo}HV SHUDQWH FRQVXPLGRUHV GH HQHUJLD HOpWULFD GHFRUUHQWHV GH DQWHFLSDomR GH UHFXUVRV SDUD FRQVWUXomR GH REUDV HP
PXQLFtSLRV DLQGD QmR XQLYHUVDOL]DGRV FRQWDV SDJDV HP GXSOLFLGDGH DMXVWHV GH IDWXUDPHQWR H RXWURV E *DUDQWLD FRQVWLWXtGD HP
HVSpFLHSDUDDVVHJXUDURFXPSULPHQWRGRFRQWUDWRWDQWRQRTXHGL]UHVSHLWRDVXDVFOiXVXODVRSHUDFLRQDLVFRPRQDREULJDWRULHGDGHGR
SDJDPHQWRGRVHQFDUJRVGRVHPSUHJDGRVGDVHPSUHVDVIRUQHFHGRUDVGHVHUYLoRV F 7D[DGHLOXPLQDomRS~EOLFD7,3&RUUHVSRQGH
DYDORUHVDUUHFDGDGRVDVHUHPUHSDVVDGRVjV3UHIHLWXUDV G $GLDQWDPHQWRVUHFHELGRVUHIHUHPVHSULQFLSDOPHQWHDDGLDQWDPHQWRV
SDUDH[HFXomRGHVHUYLoRVWpFQLFRVFRPRGHVORFDPHQWRGHSRVWHVGHUHGHGHGLVWULEXLomRHGHOLQKDGHWUDQVPLVVmRHPFRQWUDSDUWLGDGH
VHUYLoRVSUHVWDGRVDWHUFHLURV YLGHQRWD H $TXLVLomRGRVDWLYRVGHEDL[DWHQVmRGHSURSULHGDGHGDVFRRSHUDWLYDVH[LVWHQWHVGHQWUR
GDiUHDGHFRQFHVVmRGD&HOSHFRQIRUPHDFRUGRFHOHEUDGRHQWUHD&(/3(HDV&RRSHUDWLYDVHP $PHWRGRORJLDDSOLFDGD
SDUDDYDOLDomRGRVDWLYRVIRLjGH¿QLGDSHOD$1((/DWUDYpVGDUHVROXomRDOWHUDGDSHODUHVROXomR
29. PATRIMÔNIO LÍQUIDO
&DSLWDOVRFLDO 2FDSLWDOVRFLDODXWRUL]DGRGD&RPSDQKLDHPGHGH]HPEURGHpGH5HRLQWHJUDOL]DGRpGH5
$FRPSRVLomRGRFDSLWDOVRFLDOUHDOL]DGRSRUFODVVHGHDo}HVVHPYDORUQRPLQDOHSULQFLSDLVDFLRQLVWDVpDVHJXLQWH
Nº de Ações mil
Ações Ordinárias
Ações Preferenciais
Acionistas
Única
%
A
%
B
%
Total
%
1HRHQHUJLD6$
400
2XWURV
0,4
10,4
Total
100,0
100,0
100,0
100,0
R$ mil
Ações Ordinárias
Ações Preferenciais
Acionistas
Única
%
A
%
B
%
Total
%
1HRHQHUJLD6$
2XWURV
0,4
10,4
Total
100,0
100,0
100,0
100,0
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SRVVXHPGLUHLWRGHYRWR¿FDQGRDVVHJXUDGRDLQGD L DVDo}HVSUHIHUHQFLDLV³&ODVVH$´WrPSULRULGDGHQDGLVWULEXLomRGHGLYLGHQGRVTXH
VHUmRQRPtQLPR GH]SRUFHQWR VREUHROXFUROtTXLGRUHSUHVHQWDGRSRUDo}HVSUHIHUHQFLDLV³&ODVVH$´ LL DVDo}HVSUHIHUHQFLDLV
³&ODVVH%´WrPSULRULGDGHQDGLVWULEXLomRGHGLYLGHQGRVVRPHQWHDSyVDGLVWULEXLomRGHGLYLGHQGRVjVSUHIHUHQFLDLV³&ODVVH$´VHQGR
WDLV GLYLGHQGRV QR PtQLPR GH] SRU FHQWR PDLRUHV GR TXH RV DWULEXtGRV jV Do}HV RUGLQiULDV 5HVHUYDV GH FDSLWDO D 5HVHUYD
HVSHFLDO GH iJLR (VVD UHVHUYD QR PRQWDQWH GH 5 IRL JHUDGD HP IXQomR GD UHHVWUXWXUDomR VRFLHWiULD GD &RPSDQKLD TXH
UHVXOWRXQRUHFRQKHFLPHQWRGREHQHItFLR¿VFDOGLUHWDPHQWHQRSDWULP{QLROtTXLGRTXDQGRRiJLRIRLWUDQVIHULGRSDUDD&RPSDQKLDDWUDYpV
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HPSURMHWRVGHDPSOLDomRGDVXDFDSDFLGDGHLQVWDODGDFRQIRUPHGHWHUPLQDRDUWLJRGR'HFUHWRQGHGHPDUoRGH
2VDOGRGDUHVHUYDGHLQFHQWLYR¿VFDODSXUDGRDWpGHGH]HPEURGHQRPRQWDQWHGH5IRLPDQWLGRFRPRUHVHUYD
GHFDSLWDOHVRPHQWHSRGHUiVHUXWLOL]DGRFRQIRUPHSUHYLVWRHPOHL5HVHUYDVGHOXFURV D 5HVHUYDGHLQFHQWLYR¿VFDO (PDWHQGLPHQWR
j /HL Q H &3& R YDORU FRUUHVSRQGHQWH DR LQFHQWLYR 68'(1( DSXUDGR D SDUWLU GD YLJrQFLD GD /HL IRL FRQWDELOL]DGR QR
UHVXOWDGRGRH[HUFtFLRHSRVWHULRUPHQWHWUDQVIHULGRSDUDDUHVHUYDGHOXFURGHYHQGRVRPHQWHVHUXWLOL]DGRSDUDDXPHQWRGHFDSLWDOVRFLDO
RXSDUDHYHQWXDODEVRUomRGHSUHMXt]RVFRQWiEHLVFRQIRUPHSUHYLVWRQRDUWLJRGR5HJXODPHQWRGH,PSRVWRGH5HQGD2LQFHQWLYR
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68'(1(FDOFXODGRFRPEDVHQR/XFURGD([SORUDomRDSOLFDQGRDUHGXomRGHGRLPSRVWRGHUHQGDDSXUDGRSHOR/XFUR5HDO