/LEUHWWRGLLVWUX]LRQL
UHO ² FRG 7$67,(5$
&L VRQR WUH WLSL GL WDVWLHUD GLVSRQLELOL SHU O¶;0.
;0.
;0.
7 WDVWLHUD RUL]]RQWDOH D WDVWL [PP
$99(57(1=( *(1(5$/,
'$
/(**(5(
35,0$
',
352&('(5(
8/7(5,250(17(
1(//·87,/,==2
'(/
0$18$/(
•
•
•
,O
SUHVHQWH
PDQXDOH
FRVWLWXLVFH
SDUWH
LQWHJUDQWH
GHO
SURGRWWR
H
GHYH
HVVHUH
FRQVHUYDWR
SUHVVR
O¶DSSDUHFFKLR SHU XQD IDFLOH H UDSLGD FRQVXOWD]LRQH
,O UHJRODWRUH QRQ GHYH HVVHUH XVDWR FRQ IXQ]LRQL GLYHUVH GD TXHOOH GL VHJXLWR GHVFULWWH LQ SDUWLFRODUH QRQ
SXz HVVHUH XVDWR FRPH GLVSRVLWLYR GL VLFXUH]]D
3ULPD GL SURFHGHUH YHULILFDUH L OLPLWL GL DSSOLFD]LRQH
& WDVWLHUD RUL]]RQWDOH D WDVWL [PP
•
•
•
•
•
•
•
•
•
35(&$8=,21, ', 6,&85(==$
3ULPD GL FRQQHWWHUH OR VWUXPHQWR YHULILFDUH FKH OD WHQVLRQH GL DOLPHQWD]LRQH VLD TXHOOD ULFKLHVWD
1RQ HVSRUUH O¶XQLWj DOO¶DFTXD R DOO¶XPLGLWj LPSLHJDUH LO UHJRODWRUH VROR QHL OLPLWL GL IXQ]LRQDPHQWR SUHYLVWL
HYLWDQGR FDPEL UHSHQWLQL GL WHPSHUDWXUD XQLWL DG DOWD XPLGLWj DWPRVIHULFD SHU HYLWDUH LO IRUPDUVL GL FRQGHQVD
$WWHQ]LRQH SULPD GL LQL]LDUH TXDOVLDVL PDQXWHQ]LRQH GLVLQVHULUH L FROOHJDPHQWL HOHWWULFL GHOOR VWUXPHQWR
/R VWUXPHQWR QRQ GHYH PDL HVVHUH DSHUWR
,Q FDVR GL PDOIXQ]LRQDPHQWR R JXDVWR ULVSHGLUH OR VWUXPHQWR DO ULYHQGLWRUH R DOOD ³',;(// VUO´ YHGL
9 WDVWLHUD YHUWLFDOH D WDVWL [PP
LQGLUL]]R FRQ XQD SUHFLVD GHVFUL]LRQH GHO JXDVWR
7HQHUH FRQWR GHOOD FRUUHQWH PDVVLPD DSSOLFDELOH D FLDVFXQ UHOq YHGL 'DWL 7HFQLFL
3HU YLVXDOL]]DUH R PRGLILFDUH LO VHW SRLQW ,Q SURJUDPPD]LRQH VHOH]LRQD XQ SDUDPHWUR R FRQIHUPD XQ
3LD]]DUH OD VRQGD LQ PRGR FKH QRQ VLD UDJJLXQJLELOH GDOO¶XWLOL]]DWRUH ILQDOH
YDORUH
)DUH LQ PRGR FKH L FDYL GHOOH VRQGH GHOOD DOLPHQWD]LRQH GHO UHJRODWRUH GHOOD DOLPHQWD]LRQH GHL FDULFKL
6H SUHPXWR SHU VHF GXUDQWH OD YLVXDOL]]D]LRQH GHOOD 0$; R GHOOD 0,1 WHPSHUDWXUD OH UHVHWWD
ULPDQJDQR VHSDUDWL H VXIILFLHQWHPHQWH GLVWDQWL IUD GL ORUR VHQ]D LQFURFLDUVL H VHQ]D IRUPDUH VSLUDOL
6H SUHPXWR LQ YLVXDOL]]D]LRQH RUD SHUPHWWH O¶LPSRVWD]LRQH GHOO¶RUDULR H GHL JLRUQL IHVWLYL
1HO FDVR GL DSSOLFD]LRQL LQ DPELHQWL LQGXVWULDOL SDUWLFRODUPHQWH FULWLFL SXz HVVHUH XWLOH LQROWUH DGRWWDUH ILOWUL GL
UHWH QV PRG )7 LQ SDUDOOHOR DL FDULFKL LQGXWWLYL
6ROR WDVWLHUD &
6H SUHPXWR SHU VHFRQGL SRQH OD LO FRQWUROORUH LQ VWDQG E\
'(6&5,=,21( *(1(5$/(
;0. H ;0. VRQR GHL FRQWUROORUL D PLFURSURFHVVRUH DGDWWL SHU DSSOLFD]LRQL D EDQFKL FDQDOL]]DWL LQ PHGLD H
3HU YHGHUH OD PDVVLPD WHPSHUDWXUD UDJJLXQWD ,Q SURJUDPPD]LRQH VFRUUH L FRGLFL GHL SDUDPHWUL R QH
EDVVD WHPSHUDWXUD FRPSRVWL GD YDULH VH]LRQL ILQR D (¶ FRVu SRVVLELOH FUHDUH XQD UHWH ORFDOH FKLDPDWD /$1
LQFUHPHQWD LO YDORUH
FRPSRVWD GD YDULH VH]LRQL FKH SRVVRQR RSHUDUH GLSHQGHQWHPHQWH GDOOD SURJUDPPD]LRQH FRPH FRQWUROORUL
6H SUHPXWR SHU VHF 3HUPHWWH O¶DFFHVVR DO PHQ VH]LRQL
VLQJROL R VHJXHQGR L FRPDQGL FKH DUULYDQR GD XQD GHOOH DOWUH VH]LRQL ;0. q IRUQLWR GL WUH XVFLWH UHOq SHU LO
FRQWUROOR GHOOD YDOYROD VROHQRLGH FRPSUHVVRUH GHOOR VEULQDPHQWR FKH SXz HVVHUH VLD HOHWWULFR FKH D JDV FDOGR
H GHOOH OXFL ,O PRGHOOR ;0. q GRWDWR DQFKH GL XQ¶XVFLWD SHU LO FRQWUROOR GHOOH YHQWROH GHOO¶HYDSRUDWRUH 7XWWL L
3HU YHGHUH OD PLQLPD WHPSHUDWXUD UDJJLXQWD ,Q SURJUDPPD]LRQH VFRUUH L FRGLFL GHL SDUDPHWUL R QH
PRGHOOL VRQR GRWDWL GL WUH LQJUHVVL VRQGD 17& XQR SHU OD WHUPRVWDWD]LRQH O¶DOWUR SHU LO FRQWUROOR GHOOD WHPSHUDWXUD
GHFUHPHQWD LO YDORUH
GL ILQH VEULQDPHQWR VXOO¶HYDSRUDWRUH H OD WHU]D IDFROWDWLYD SHU OD YLVXDOL]]D]LRQH D GLVSOD\ 6RQR SUHVHQWL LQROWUH
6H SUHPXWR SHU VHF YLVXDOL]]D O¶RUD H LO JLRUQR FRUUHQWH H DELOLWD O¶LQJUHVVR LQ SURJUDPPD]LRQH
GXH LQJUHVVL GLJLWDOL FRQWDWWL SXOLWL XQR GHGLFDWR DO IXQ]LRQDPHQWR QRWWXUQR HQHUJ\ VDYLQJ H O¶DOWUR FRQILJXUDELOH
IDVFH RUDULH
GD SDUDPHWUR
/H GXH XVFLWH /$1 SHUPHWWRQR XQ¶DJHYROH FRQQHVVLRQH WUD L YDUL FRQWUROORUL PHQWUH LO FRQQHWWRUH 77/ SHUPHWWH OD
7HQHQGROR SUHPXWR SHU V DYYLD LO FLFOR GL VEULQDPHQWR PDQXDOH
SURJUDPPD]LRQH GHOOD OLVWD SDUDPHWUL FRPSOHWD WUDPLWH OD FKLDYHWWD GL SURJUDPPD]LRQH ³+RW .H\´ 6RQR GLVSRQLELOL
6H SUHPXWR LQ YLVXDOL]]D]LRQH RUD SHUPHWWH O¶LPSRVWD]LRQH GHJOL RUDUL GL VEULQDPHQWR
XQ¶XVFLWD RS]LRQDOH SHU LO FROOHJDPHQWR GLUHWWR GHOOD VHULDOH 56 HG XQ RURORJLR LQWHUQR 57&
5(*2/$=,21(
$FFHQGH H VSHJQH OH OXFL GHOOD FHOOD
9$/92/$ 62/(12,'(
6ROR WDVWLHUD &
/¶LVWHUHVL +\ q DXWRPDWLFDPHQWH VRPPDWD DO VHW SRLQW 6H OD WHPSHUDWXUD DXPHQWD H UDJJLXQJH LO VHW SRLQW SL
6H SUHPXWR SHU VHFRQGL DYYLD XQ FLFOR GL VEULQDPHQWR
O¶LVWHUHVL LO FRPSUHVVRUH YLHQH DWWLYDWR SHU HVVHUH SRL VSHQWR TXDQGR OD WHPSHUDWXUD VL ULSRUWD DO YDORUH GHO VHW
SRLQW
,Q FDVR GL JXDVWR DOOD VRQGD O¶DWWLYD]LRQH H OR VSHJQLPHQWR GHOO¶XVFLWD YLHQH JHVWLWR D WHPSR DWWUDYHUVR L SDUDPHWUL
$FFHQGH H VSHJQH OR VWUXPHQWR
³&2Q´ H ³&2)´
/2 6%5,1$0(172
6RQR GLVSRQLELOL WUH WLSL GL VEULQDPHQWR VHOH]LRQDELOL WUDPLWH LO SDUDPHWUR ³WG)´ VEULQDPHQWR FRQ UHVLVWHQ]D
&20%,1$=,21, ', 7$67,
HOHWWULFD D JDV FDOGR R WHUPRVWDWDWR /D PRGDOLWj GL VEULQDPHQWR q GHILQLWD WUDPLWH LO SDUDPHWUR ³(G)´
UWF OR VEULQDPHQWR q IDWWR LQ WHPSR UHDOH D VHFRQGD GHJOL RUDUL SURJUDPPDWL QHL SDUDPHWUL /G/G SHU L
(G)
JLRUQL IHULDOL HG LQ 6G«6G SHU L JLRUQL IHVWLYL 4XHVWD PRGDOLWj q GLVSRQLELOH VROR TXDQGR OD VFKHGD PRQWD
O¶RURORJLR LQWHUQR
(G)
LQ OR VEULQDPHQWR q DYYLDWR DOOR VFDGHUH GHOO¶LQWHUYDOOR GL WHPSR LPSRVWDWR QHO SDUDPHWUR ³,G)´
(G)
6G FRPH LO SUHFHGHQWH FRQ OD GLIIHUHQ]D FKH LO FRQWHJJLR GHO WHPSR ³,G)´ q FDOFRODWR VHFRQGR O¶DOJRULWPR
6PDUW 'HIURVW VRODPHQWH TXDQGR OD 9$/92/$ 62/(12,'( q DWWLYD
H OD WHPSHUDWXUD GHOO¶HYDSRUDWRUH q SL
HOHYDWD GHO YDORUH LPSRVWDWR QHO SDUDPHWUR ³6G)´
7HUPLQDWR OR VEULQDPHQWR SDUWH LO WHPSR GL VJRFFLRODPHQWR JHVWLELOH DWWUDYHUVR LO SDUDPHWUR ³)GW´
/¶LQL]LR GL XQ FLFOR GL VEULQDPHQWR SXz HVVHUH FRPDQGDWR ORFDOPHQWH DWWLYD]LRQH PDQXDOH GD WDVWLHUD R GD
LQJUHVVR GLJLWDOH R DOOD ILQH GHOO¶LQWHUYDOOR GL WHPSR DOWULPHQWL LO FRPDQGR SXz DUULYDUH GD XQD TXDOVLDVL GHL
FRQWUROORUL LQVHULWL QHOOD /$1
,Q TXHVW¶XOWLPR FDVR LO FRQWUROORUH DYYLHUj LO FLFOR GL VEULQDPHQWR H OR SRUWHUj D
WHUPLQH VHJXHQGR OH LQGLFD]LRQL SUHVHQWL QHL SURSUL SDUDPHWUL GL SURJUDPPD]LRQH PD DOOD ILQH GHO FLFOR DWWHQGHUj
FKH DQFKH WXWWL JOL DOWUL FRQWUROORUL SUHVHQWL QHOOD /$1 DEELDQR ILQLWR LO ORUR SULPD GL ULSUHQGHUH OD QRUPDOH
UHJROD]LRQH GL WHPSHUDWXUD
)81=,21$0(172 '(, 9(17,/$725, 62/2 ;0.
,O PRGR GL IXQ]LRQDPHQWR GHOOH YHQWROH SXz HVVHUH VHOH]LRQDWR DWWUDYHUVR LO SDUDPHWUR ³)Q&´
)Q&
&Q ,Q SDUDOOHOR DO FRPSUHVVRUH VSHQWH LQ VEULQDPHQWR
)Q&
&\ ,Q SDUDOOHOR DO FRPSUHVVRUH DFFHVH LQ VEULQDPHQWR
)Q&
2Q ,Q FRQWLQXR VSHQWH LQ VEULQDPHQWR
)Q&
2\ ,Q FRQWLQXR DFFHVH LQ VEULQDPHQWR
OH
YHQWROH
ULPDQJRQR
VSHQWH
TXHVWR
SHU
IDU
Vu
FKH
QHOOD
FHOOD
YHQJD
LPPHVVD
DULD
VXIILFLHQWHPHQWH IUHGGD
;0B.
02'(
$&&(62
/$03(**,$17(
;0.
)XQFWLRQ
9DOYROD VROHQRLGH DWWLYDWD
)DVH GL SURJUDPPD]LRQH ODPSHJJLDQWH DVVLHPH DO /('
5LWDUGR DQWLSHQGROD]LRQH
$&&(62
,7$GRF
3HU XVFLUH GDOOD SURJUDPPD]LRQH
6,*1,),&$72 '(, /('
/('
6H OD WHPSHUDWXUD ULOHYDWD GDOOD VRQGD GL HYDSRUDWRUH q VXSHULRUH D TXHOOD LPSRVWDWD QHO SDUDPHWUR ³)6W´ 6HW
YHQWROH
3HU HQWUDUH LQ SURJUDPPD]LRQH
6XO GLVSOD\ HVLVWH XQD VHULH GL SXQWL OXPLQRVL LO FXL VLJQLILFDWR q GHVFULWWR GDOOD WDEHOOD VRWWRVWDQWH
$O WHUPLQH GHOOR VEULQDPHQWR L YHQWLODWRUL VL ULDFFHQGRQR GRSR XQ ULWDUGR LPSRVWDELOH DWWUDYHUVR LO SDUDPHWUR ³)QG´
EORFFR
3UHPXWL SHU VHF EORFFDQR H VEORFFDQR OD WDVWLHUD
/¶XVFLWD YHQWROH q DWWLYD
/LEUHWWRGLLVWUX]LRQL
/$03(**,$17(
)DVH GL SURJUDPPD]LRQH ODPSHJJLDQWH DVVLHPH DO /('
$&&(62
6EULQDPHQWR DWWLYR
/$03(**,$17(
7HPSR GL JRFFLRODPHQWR LQ FRUVR
$&&(62
7DVWLHUD LQ PRGDOLWj ³$//´
/$03(**,$17(
8
LQ 21 SUHPHUH QXRYDPHQWH LO WDVWR
9HUUj YLVXDOL]]DWR LO PHVVDJJLR ³/R´ VHJXLWR GDOOD PLQLPD WHPSHUDWXUD UDJJLXQWD
3UHPHQGR LO WDVWR
/D FRQGL]LRQH GL 2)) SHUPHWWH GL HVFOXGHUH OR VWUXPHQWR GDO PRQLWRUDJJLR VHQ]D JHQHUDUH QHVVXQ
WLSR GL DOODUPH
1% ,Q 2)) LO WDVWR /8&( q DWWLYR
R DVSHWWDUH VHFRQGL SHU YLVXDOL]]DUH OD WHPSHUDWXUD QRUPDOH
9
6(7
SHU SL GL
VHF
,Q TXHVWD FRQILJXUD]LRQH L FDULFKL H WXWWH OH UHJROD]LRQL VRQR GLVDELOLWDWH /D FRQGL]LRQH GL 2))
3UHPHUH H ULODVFLDUH LO WDVWR
9HUUj YLVXDOL]]DWR LO PHVVDJJLR ³+L´ VHJXLWR GDOOD PDVVLPD WHPSHUDWXUD UDJJLXQWD
9
)81=,21( 212)) 7$67,(5$ &
3UHPHUH LO WDVWR
SHUPHWWH GL HVFOXGHUH OR VWUXPHQWR GDO PRQLWRUDJJLR VHQ]D JHQHUDUH QHVVXQ WLSR GL DOODUPH
1% ,Q 2)) LO WDVWR /8&( q DWWLYR
R DVSHWWDQGR VHFRQGL VL WRUQHUj D YLVXDOL]]DUH OD WHPSHUDWXUD
3HU FDQFHOODUH OH WHPSHUDWXUH PHPRUL]]DWH YLVXDOL]]DUH OD PDVVLPD R OD PLQLPD WHPSHUDWXUD FRQ L WDVWL
8
3(5 9,68$/,==$5( ,/ 9$/25( '(//( 621'(
(QWUDUH QHO PHQ SURWHWWR ³3U´
8VDQGR L WDVWL
9 R 8
VHOH]LRQDUH LO SDUDPHWUR ³G3´ SHU OD VRQGD ³G3´ SHU OD VRQGD HYDSRUDWRUH
³G3´ SHU OD VRQGD GLVSOD\
3UHPHUH LO WDVWR ³6(7´ SHU YLVXDOL]]DUH LO UHODWLYR YDORUH
3UHPHUH LO WDVWR ³6(7´ SHU SDVVDUH DO SDUDPHWUR VXFFHVVLYR
,/ 0(18 6(=,21,
3UHPHUH LO WDVWR 6(7 ILQFKp LO PHVVDJJLR ³U67 ODPSHJJLD YROWH
4XHVWR PHQX SHUPHWWH GL DFFHGHUH DOOD SDUWLFRODUH IXQ]LRQH FDUDWWHULVWLFD GHOOD VHULH ;0 UHODWLYD DOOD /$1 /RFDO
$UHD 1HWZRUN RYYHUR UHWH ORFDOH GL FRQWUROORUL
8QD WDVWLHUD D VHFRQGD GL FRPH q SURJUDPPDWD SXz DVVXPHUH LO FRQWUROOR GHOOD VH]LRQH D FXL q FROOHJDWD
3(5 9('(5( ( 02',),&$5( ,/ 6(7 32,17
FRQWUROODUH XQD TXDOVLDVL GHOOH DOWUH VH]LRQL GHOOD /$1 R FRQWUROODUH WXWWH OH VH]LRQL
3UHPHUH H ULODVFLDUH LO WDVWR 6(7 LO VHW SRLQW YHUUj LPPHGLDWDPHQWH YLVXDOL]]DWR
,O OHG 6(7 ODPSHJJLD
3HU PRGLILFDUH LO YDORUH DJLUH VXL WDVWL
3HU HQWUDUH QHO PHQX VH]LRQL RFFRUUH RSHUDUH FRPH VHJXH
8 9
H
3HU PHPRUL]]DUH LO QXRYR VHW SRLQW SUHPHUH LO WDVWR 6(7 R DWWHQGHUH V SHU XVFLUH GDOOD
SURJUDPPD]LRQH
/$ )81=,21( 212))
,Q TXHVWD FRQILJXUD]LRQH L FDULFKL H WXWWH OH UHJROD]LRQL VRQR GLVDELOLWDWH 3HU ULSRUWDUH OR VWUXPHQWR
3UHPHUH H ULODVFLDUH LO WDVWR
1% 5HVHWWDUH OH WHPSHUDWXUH GRSR O¶LQVWDOOD]LRQH GHOOR VWUXPHQWR
SHU DOFXQL VHFRQGL ILQFKp QRQ DSSDUH OD VFULWWD
3UHPHQGR LO WDVWR 212)) OR VWUXPHQWR YLVXDOL]]D ³2))´ SHU VHF H LO OHG GL 212)) VL DFFHQGH
3(5 &$1&(//$5( /( 7(03(5$785( 0(025,==$7(
9
H
³32Q´ ODPSHJJLDQWH
3(5 9('(5( /$ 7(03(5$785$ 0$66,0$
H
8 8
3(5 6%/2&&$5( /$ 7$67,(5$
7HQHUH SUHPXWL L WDVWL
3UHPHQGR LO WDVWR
SHU DOFXQL VHFRQGL ILQFKp QRQ DSSDUH OD
VHW SRLQW GHOOD WHPSHUDWXUD PDVVLPD H PLQLPD
,Q SURJUDPPD]LRQH ³3U´ LQGLFD FKH LO SDUDPHWUR q SUHVHQWH DQFKH LQ ³3U´
QRUPDOH
H
$ TXHVWR SXQWR OD WDVWLHUD q EORFFDWD q SHUPHVVD VROR OD YLVXDOL]]D]LRQH GHO
3(5 9('(5( /$ 7(03(5$785$ 0,1,0$
9 8
VFULWWD ³32)´ ODPSHJJLDQWH
7DVWLHUD LQ PRGDOLWj 59' FRQWUROOR UHPRWR
8
7HQHUH SUHPXWL L WDVWL
3(5 %/2&&$5( /$ 7$67,(5$
6HJQDOD]LRQH $//$50(
$&&(62
UHO ² FRG 9 SHU SL GL VHFRQGL
3UHPHUH LO WDVWR
9LHQH YLVXDOL]]DWD LO PHVVDJJLR FRUULVSRQGHQWH DOOD DWWXDOH SURJUDPPD]LRQH GHOOD WDVWLHUD
&RQ L WDVWL
3UHPHUH LO WDVWR 6(7 SHU FRQIHUPDUH HG XVFLUH GDOOD SURJUDPPD]LRQH
9 R 8 VHOH]LRQDUH OD VH]LRQH FKH VL GHVLGHUD FRQWUROODUH
3(5 $99,$5( 81 &,&/2 ', 6%5,1$0(172 0$18$/(
, PHVVDJJL FKH DSSDLQR VXO GLVSOD\ VRQR L VHJXHQWL
3UHPHUH LO WDVWR '() SHU SL GL VHFRQGL
/2& /D WDVWLHUD PRVWUD L YDORUL GL WHPSHUDWXUD PLVXUDWL JOL VWDWL GHOOH XVFLWH H JOL DOODUPL GHOOD VH]LRQH D FXL q
FROOHJDWD 7XWWL L FRPDQGL LPSDUWLWL GDOOD WDVWLHUD YHUUDQQR HVHJXLWL VRODPHQWH GDOOD VH]LRQH ORFDOH
6ROR WDVWLHUD &
6(«6H OD WDVWLHUD FRQWUROOD OD VH]LRQH GHOOD /$1 FRUULVSRQGHQWH DO QXPHUR FRQWUROOR UHPRWR H PRVWUD L YDORUL
3UHPHUH LO WDVWR OXFH SHU SL GL VHFRQGL
GL WHPSHUDWXUD PLVXUDWL JOL VWDWL GHOOH XVFLWH H JOL DOODUPL FRUULVSRQGHQWL D TXHOOD VH]LRQH 7XWWL L FRPDQGL LPSDUWLWL
GDOOD WDVWLHUD YHUUDQQR HVHJXLWL VRODPHQWH GD TXHOOD VH]LRQH
1% QRQ q SHUPHVVR FRQWUROODUH GD UHPRWR SL GL XQD VH]LRQH DOOD YROWD
3(5 $&&('(5( $, 3$5$0(75, ,1 ´35µ
3HU HQWUDUH QHO PHQX SDUDPHWUL ³3U´ DFFHVVLELOL GDOO¶XWHQWH
$// /D WDVWLHUD PRVWUD L YDORUL WL WHPSHUDWXUD PLVXUDWL JOL VWDWL GHOOH XVFLWH H JOL DOODUPL GHOOD VH]LRQH D FXL q
3UHPHUH SHU DOFXQL VHFRQGL L WDVWL 6(7
8
FROOHJDWD PD L FRPDQGL LPSDUWLWL GDOOD WDVWLHUD YHUUDQQR WUDVIHULWL D WXWWH OH VH]LRQL FKH FRPSRQJRQR OD /$1
H
FRPLQFLDQR
D
,Q FDVR GL DOODUPH DSSDUH VXO GLVSOD\ OD VFULWWD ³$VQ´ FRQ ³Q´ FKH LQGLFD LO QXPHUR GHOOD VH]LRQH LQ DOODUPH 3HU
YLVXDOL]]DUH LQ GHWWDJOLR LO WLSR GL DOODUPH SURJUDPPDUH OD WDVWLHUD LQ PRGR FKH DVVXPD LO FRQWUROOR GHOOD VH]LRQH
ODPSHJJLDUH
FRUULVSRQGHQWH
/R VWUXPHQWR YLVXDOL]]D LO SULPR SDUDPHWUR SUHVHQWH LQ ³3U´
)81=,21, 252/2*,2
/H VHJXHQWL IXQ]LRQL VRQR DWWLYDWH VRODPHQWH VH SUHVHQWH O¶RURORJLR LQWHUQR 57&
3(5 $&&('(5( $, 3$5$0(75, ,1 ´35µ
3HU HQWUDUH QHO PHQX SDUDPHWUL ³3U´ FL VRQR GXH SRVVLELOLWj $FFHGHUH D ³3U´
6HOH]LRQDUH LO SDUDPHWUR ³3U´ H SUHPHUH 6(7
$SSDULUj OD VFULWWD ³3$6´ ODPSHJJLDQWH H VXFFHVVLYDPHQWH ³ ³ FRQ OR ODPSHJJLDQWH
,QVHULUH OD SDVVZRUG ³´ XVDQGR L WDVWL
/D VHFRQGD SRVVLELOLWj q GL SUHPHUH 6(7 8
9 8
H
3UHPHUH SHU VHF LO WDVWR
YHUUDQQR YLVXDOL]]DWL L VHJXHQWL PHVVDJJL
SHU VHOH]LRQDUH H LO WDVWR 6(7 SHU FRQIHUPDUH DSSDUH LOOXPLQDWR 2JQL SDUDPHWUR
8
PLQXWL H L PLQXWL
G$< GD\
JLRUQR H JLRUQR FRUUHQWH 0RQOXQHGu WXHPDUWHGu 8HG PHUFROHGu
8
$FFHGHUH DO PRGR SURJUDPPD]LRQH
6HOH]LRQDUH LO SDUDPHWUR GHVLGHUDWR
3UHPHUH LO WDVWR 6(7 SHU YLVXDOL]]DUQH LO YDORUH
0RGLILFDUOR FRQ L WDVWL
3UHPHUH ³6(7´ SHU PHPRUL]]DUH LO QXRYR YDORUH H SDVVDUH DO FRGLFH GHO SDUDPHWUR VXFFHVVLYR
GRPHQLFD
R DVSHWWDUH VHFRQGL SHU YLVXDOL]]DUH OD WHPSHUDWXUD QRUPDOH
3(5 352*5$00$5( /·25$ ( , *,251, )(67,9,
8
3UHPHUH SHU VHF LO WDVWR
VDUDQQR YLVXDOL]]DWL O¶RUD H LO JLRUQR
3UHPHQGR LO WDVWR 6(7 VDUj SRVVLELOH LPSRVWDUH O¶RUD L PLQXWL LO JLRUQR
FRUUHQWH HG L WUH JLRUQL IHVWLYL GHOOD VHWWLPDQD
3HU FDPELDUH LO YDORUH GL XQ SDUDPHWUR
8VFLWD 3UHPHUH 6(7 RUD H RUD
WKXJLRYHGu )ULYHQHUGu 6$WVDEDWR 6XQ
3(5 &$0%,$5( ,/ 9$/25( ', 81 3$5$0(752
H
0LQ 0LQXWH
3UHPHQGR LO WDVWR
HQWUR VHFRQGL GDOOD DFFHQVLRQH GHOOR VWUXPHQWR
SUHVHQWH LQ ³3Uµ SXz HVVHUH WROWR R LPPHVVR LQ ³3U´ OLYHOOR XWHQWH SUHPHQGR L WDVWL 6(7
9 8
9
8
+XU +XU
1% 4XDQGR VL q LQ ³3U´ VH XQ SDUDPHWUR q SUHVHQWH LQ ³3U´ LO /('
3(5 9,68$/,==$5( /·25$ ( ,/ *,2512 &255(17(
3HU XVFLUH SUHPHUH 6(7
9
TXDQGR VL YLVXDOL]]D XQ SDUDPHWUR R
DWWHQGHUH V VHQ]D SUHPHUH DOFXQ WDVWR
TXDQGR VL YLVXDOL]]D XQ SDUDPHWUR R DWWHQGHUH V VHQ]D SUHPHUH DOFXQ WDVWR
1% LO QXRYR YDORUH LPSRVWDWR YLHQH PHPRUL]]DWR DQFKH TXDQGR VL HVFH VHQ]D DYHU SUHPXWR LO WDVWR 6(7
3(5 352*5$00$5( */, 25$5, ', 6%5,1$0(172 62/2 7 ( 9
8
3UHPHUH SHU VHF LO WDVWR
VDUDQQR YLVXDOL]]DWL O¶RUD H LO JLRUQR
3UHPHQGR LO WDVWR '() VDUj SRVVLELOH LPSRVWDUH JOL RUDUL GL VEULQDPHQWR
3HU XVFLUH SUHPHUH 6(7
9 TXDQGR VL YLVXDOL]]D XQ SDUDPHWUR R DWWHQGHUH V VHQ]D
SUHPHUH DOFXQ WDVWR
;0B.
,7$GRF
;0.
/LEUHWWRGLLVWUX]LRQL
&/ DWWLYR SHU FRQWDWWR FKLXVR 23 DWWLYR SHU FRQWDWWR DSHUWR
/,67$ '(, 3$5$0(75,
,3
5(*2/$=,21(
+\
UHO ² FRG 3RODULWj LQJUHVVR FRQILJXUDELOH
&/ DWWLYR SHU FRQWDWWR FKLXVR 23 DWWLYR SHU FRQWDWWR DSHUWR
,VWHUHVL ·ƒ& ·ƒ) 'LIIHUHQ]LDOH GL LQWHUYHQWR GHO VHW SRLQW VHPSUH SRVLWLYR ,O FRPSUHVVRUH VL
,)
&RQILJXUD]LRQH LQJUHVVR GLJLWDOH FRQILJXUDELOH
VRQR VHOH]LRQDELOL VHWWH WLSL GL FRQILJXUD]LRQL ($/
DWWLYD TXDQGR OD WHPSHUDWXUD DXPHQWD ILQR D UDJJLXQJHUH LO VHW SRLQW +\ SHU SRL VSHJQHUVL TXDQGR YLHQH
$YYLR FLFOR GL VEULQDPHQWR $86
ULSRUWDWD DO YDORUH GHO VHW SRLQW
/6
6HW SRLQW PLQLPR ƒ&
86
6HW SRLQW PDVVLPR 6(7
÷6(7 ƒ)·6(7 )LVVD LO YDORUH PLQLPR LPSRVWDELOH SHU LO VHW SRLQW
)XQ]LRQDPHQWR IHVWLYR
+GI
÷ƒ& 6(7·ƒ) )LVVD LO YDORUH PDVVLPR LPSRVWDELOH SHU LO VHW SRLQW
GLG
$OODUPH HVWHUQR E$/
$WWLYD]LRQH UHOD\ $8; (V
5LWDUGR LQJUHVVR GLJLWDOH SHU DOODUPH FRQILJXUDELOH
$OODUPH HVWHUQR GL EORFFR G)U
(QHUJ\ 6DYLQJ RQ)
2Q2)) UHPRWR
÷ PLQ 6H O¶LQJUHVVR q LPSRVWDWR FRPH DOODUPH
HVWHUQR VWDELOLVFH LO WHPSR GRSR LO TXDOH VHJQDOD O¶DOODUPH
2G6 5LWDUGR DWWLYD]LRQH XVFLWH DO SRZHU 21 ·PLQ $OO¶DFFHQVLRQH O¶DWWLYD]LRQH GL TXDOVLDVL FDULFR q
LQLELWD SHU LO WHPSR LPSRVWDWR
$&
5LWDUGR SDUWHQ]H UDYYLFLQDWH ÷PLQ
LQWHUYDOOR PLQLPR WUD OR VSHJQLPHQWR GHO FRPSUHVVRUH H OD
VXFFHVVLYD ULDFFHQVLRQH
&2Q 7HPSR FRPSUHVVRUH 21 FRQ VRQGD JXDVWD ·PLQ WHPSR LQ FXL LO FRPSUHVVRUH ULPDQH DWWLYR QHO
352*5$00$=,21( 25$ ( *,251, )(67,9,
&E3
3UHVHQ]D VFKHGLQD RURORJLR
+XU
2UD FRUUHQWH · K
FDVR GL JXDVWR VRQGD &RQ ³&2Q´ LO FRPSUHVVRUH ULPDQH VHPSUH VSHQWR
0LQ
0LQXWL FRUUHQWL · PLQ
1RWD 6H ³&2Q´ H ³&2)´ LO FRPSUHVVRUH ULPDQH VSHQWR
G$<
*LRUQR VHWWLPDQDOH FRUUHQWH 6XQ · 6$W
+G
3ULPR JLRUQR VHWWLPDQDOH IHVWLYR 6XQ · QX 'HWHUPLQD LO SULPR JLRUQR VHWWLPDQDOH FKH GHYH VHJXLUH OH
&2) 7HPSR FRPSUHVVRUH 2)) FRQ VRQGD JXDVWD ·PLQ WHPSR LQ FXL LO FRPSUHVVRUH ULPDQH VSHQWR LQ
LPSRVWD]LRQL RUDULH IHVWLYH
FDVR GL JXDVWR VRQGD &RQ ³&2)´ LO FRPSUHVVRUH ULPDQH VHPSUH DFFHVR
6HFRQGR JLRUQR VHWWLPDQDOH IHVWLYR 6XQ · QX 'HWHUPLQD LO VHFRQGR JLRUQR VHWWLPDQDOH FKH GHYH
+G
VHJXLUH OH LPSRVWD]LRQL RUDULH IHVWLYH
9,68$/,==$=,21(
&)
8QLWj PLVXUD WHPSHUDWXUD ƒ&
&HOVLXV ƒ)
)DKUHQKHLW $77(1=,21( FDPELDQGR O¶XQLWj GL PLVXUD LO
7HU]R JLRUQR VHWWLPDQDOH IHVWLYR 6XQ · QX 'HWHUPLQD LO WHU]R JLRUQR VHWWLPDQDOH FKH GHYH VHJXLUH OH
+G
LPSRVWD]LRQL RUDULH IHVWLYH
VHW SRLQW H L SDUDPHWUL GL UHJROD]LRQH GHYRQR HVVHUH RSSRUWXQDPHQWH UHLPSRVWDWL
U(6
/RG
5LVROX]LRQH SHU ƒ& LQ
ƒ& GH
ƒ& SHUPHWWH OD YLVXDOL]]D]LRQH FRO SXQWR GHFLPDOH
+G+G+G SRVVRQR HVVHUH LPSRVWDWL DQFKH DO YDORUH QX
1%
9LVXDOL]]D]LRQH VX GLVSOD\ 7 9
3 7HPSHUDWXUD VRQGD WHUPRVWDWR 3
7HPSHUDWXUD VRQGD HYDSRUDWRUH 3
7HPSHUDWXUD VRQGD
DXVLOLDULD
352*5$00$=,21( 25$5, GL (1(5*< 6$9,1*
2UDULR GL LQL]LR FLFOR (QHUJ\ 6DYLQJ IHULDOH · K PLQ
,/(
'XUDQWH LO FLFOR GL (QHUJ\ 6DYLQJ LO VHW SRLQW YLHQH LQFUHPHQWDWR GHO YDORUH FRQWHQXWR LQ +(6 LQ PRGR FKH
6%5,1$0(172
LO VHW SRLQW RSHUDWLYR GLYHQWL 6(7+(6
7LSR GL VEULQDPHQWR
D UHVLVWHQ]D &RPSUHVVRUH 2))
U7
VEULQDPHQWR WHUPRVWDWDWR /R VEULQDPHQWR KD OD GXUDWD GL 0GI H OH UHVLVWHQ]H GXUDQWH TXHVWR WHPSR
IHULDOH
WHUPRVWDWDQR VXO YDORUH GL WHPSHUDWXUD GW(
(G)
D JDV FDOGR &RPSUHVVRUH 21
LQ
'XUDWD FLFOR (QHUJ\ 6DYLQJ IHVWLYR · K PLQ
,QFUHPHQWR GL WHPSHUDWXUD GXUDQWH FLFOR GL (QHUJ\ 6DYLQJ ƒ&
352*5$00$=,21( 25$5, ', 6%5,1$0(172
VEULQDPHQWR D LQWHUYDOOL GL WHPSR ILVVL LPSRVWDWL GD SDUDPHWUL LG)
VEULQDPHQWR 6PDUW 'HIURVW /¶LQWHUYDOOR GL VEULQDPHQWR LG) YLHQH FRQWHJJLDWR VROR D FRPSUHVVRUH
/G¸/G 2UDUL GL LQL]LR VEULQDPHQWL IHULDOL · K PLQ 4XHVWL SDUDPHWUL GHWHUPLQDQR O¶LQL]LR GHJOL RWWR
DFFHVR
FLFOL GL VEULQDPHQWR SURJUDPPDELOL GXUDQWH OH JLRUQDWH IHULDOL (6 6H /G
6HW SRLQW SHU FRQWHJJLR 60$57 )5267 · ƒ& · ƒ) WHPSHUDWXUD GL HYDSRUDWRUH FKH Gj LO
VEULQDPHQWR QHL JLRUQL ODYRUDWLYL OXQHGLVDEDWR LQL]LD DOOH 6G¸6G 2UDUL GL LQL]LR VEULQDPHQWL IHVWLYL · K PLQ 4XHVWL SDUDPHWUL GHWHUPLQDQR O¶LQL]LR GHJOL RWWR
FLFOL GL VEULQDPHQWR SURJUDPPDELOL GXUDQWH L WUH JLRUQL IHVWLYL +G+G H +G (6 6H 6G
HYDSRUDWRUH FKH GHWHUPLQD OD ILQH GHOOR VEULQDPHQWR
FKH LO VHFRQGR VEULQDPHQWR IHVWLYR LQL]LD DOOH 1% Q 6RQGD HYDSRUDWRUH DVVHQWH VWDELOLVFH OD GXUDWD
9LVXDOL]]D]LRQH GXUDQWH OR VEULQDPHQWR
UW
WHPSHUDWXUD UHDOH LW
(V 6H /G
QX DOORUD LO VHVWR VEULQDPHQWR GHO FLFOR IHULDOH YLHQH HVFOXVR
&21),*85$=,21( 5(7( /2&$/( /$1
WHPSHUDWXUD GL LQL]LR VEULQDPHQWR 6HW
VHW SRLQW G()
HWLFKHWWD ³G()´ G(*
/6Q 1XPHUR GL VH]LRQL GHOOD /$1
HWLFKHWWD ³G(J´
· GHILQLVFH LO QXPHUR GL VH]LRQL SUHVHQWL QHOOD /$1 GHO EDQFR
FDQDOL]]DWR
5LWDUGR YLVXDOL]]D]LRQH WHPSHUDWXUD GRSR OR VEULQDPHQWR ·PLQ 6WDELOLVFH LO WHPSR PDVVLPR WUD
)GW
7HPSR VJRFFLRODPHQWR ·PLQ ,QWHUYDOOR GL WHPSR WUD LO UDJJLXQJLPHQWR GHOOD WHPSHUDWXUD GL ILQH
OD ILQH GHOOR VEULQDPHQWR H OD ULSUHVD GHOOD YLVXDOL]]D]LRQH GHOOD WHPSHUDWXUD UHDOH GHOOD FHOOD
VEULQDPHQWR H OD ULSUHVD GHO IXQ]LRQDPHQWR QRUPDOH GHO UHJRODWRUH
/$Q ,QGLUL]]R VHULDOH GHOOD /$1
LPPHGLDWR Q
·
/6Q
LGHQWLILFD
O¶LQGLUL]]R
GHOOR
VWUXPHQWR
DOO¶LQWHUQR
\
,O
VHW
SRLQW
VH
PRGLILFDWR
QHOOD
VH]LRQH
ORFDOH
YLHQH
DJJLRUQDWR
DQFKH
LQ
WXWWH
OH
VH]LRQL
,O VHW SRLQW YLHQH PRGLILFDWR VRODPHQWH QHOOD VH]LRQH ORFDOH
/G6 6LQFURQL]]D]LRQH GLVSOD\
)XQ]LRQDPHQWR YHQWLODWRUL
&Q ,Q SDUDOOHOR DO FRPSUHVVRUH VSHQWL LQ VEULQDPHQWR
\
LO YDORUH PRVWUDWR VXO GLVSOD\ GHOOD VH]LRQH ORFDOH YLHQH LQYLDWR DQFKH D WXWWH OH DOWUH VH]LRQL
Q
,O YDORUH YLHQH PRVWUDWR VRODPHQWH VXO GLVSOD\ ORFDOH
/2) 6LQFURQL]]D]LRQH 2Q2))
&\ ,Q SDUDOOHOR DO FRPSUHVVRUH DFFHVL LQ VEULQDPHQWR
2Q ,Q FRQWLQXR VSHQWL LQ VEULQDPHQWR
\
,O FRPDQGR GL 2Q2II GDWR GDOOD VH]LRQH ORFDOH DJLVFH DQFKH LQ WXWWH OH DOWUH VH]LRQL
2\ ,Q FRQWLQXR DFFHVL LQ VEULQDPHQWR
Q
,O FRPDQGR 2Q2II DJLVFH VRODPHQWH QHOOD VH]LRQH ORFDOH
GRSR
DOWUH
GHOOD /$1
Q
YHQWLODWRUL
UHWH
/63 6LQFURQL]]D]LRQH 6HW 3RLQW
GRSR LO WHPSR ,G)
9(17,/$725, VROR ;0.
5LWDUGR
GHOOD
ORFDOH GHO EDQFR FDQDOL]]DWR
G32 6EULQDPHQWR DOO·DFFHQVLRQH
\
SHU DQQXOODUH XQ FLFOR GL VEULQDPHQWR EDVWD SRUUH LO UHODWLYR SDUDPHWUR D ´QXµ
\ 6RQGD HYDSRUDWRUH SUHVHQWH GLYHQWD GXUDWD PDVVLPD GL VEULQDPHQWR
G$G
)6W
VLJQLILFD
,QWHUYDOOR IUD L FLFOL GL VEULQDPHQWR · RUH 'HWHUPLQD O¶LQWHUYDOOR WUD O¶LQL]LR GL GXH FLFOL GL
GHOOR VEULQDPHQWR FRQ 33
)QG
VLJQLILFD FKH LO WHU]R
7HPSHUDWXUD ILQH VEULQDPHQWR ·ƒ& ·ƒ) ILVVD OD WHPSHUDWXUD ULOHYDWD GDOOD VRQGD GL
VEULQDPHQWR
)Q&
÷ ƒ& ·ƒ) 6WDELOLVFH
GL TXDQWR DXPHQWD R GLPLQXLVFH LO VHW SRLQW GXUDQWH LO FLFOR GL (QHUJ\ 6DYLQJ
0G) 'XUDWD 0$; VEULQDPHQWR ·PLQ &RQ 33
G)G
G6(
+(6
FRQVHQVR DO FRQWHJJLR GHO WHPSR ,G) LQWHUYDOOR WUD VEULQDPHQWL QHOOD PRGDOLWj 60$57 )5267
,G)
2UDULR GL LQL]LR FLFOR (QHUJ\ 6DYLQJ IHVWLYR · K PLQ
VEULQDPHQWL D RUDULR VHFRQGR L SDUDPHWUL /G¸/G QHL JLRUQL IHULDOL H 6G¸6G QHL JLRUQL IHVWLYL
VG
GW(
,6(
0RGDOLWj GL VEULQDPHQWR
UWF
6G)
'XUDWD FLFOR (QHUJ\ 6DYLQJ IHULDOH · K PLQ 'HWHUPLQD OD GXUDWD GHO FLFOR GL (QHUJ\ 6DYLQJ
G/(
U(
LQ
QRQ XVDWR ,Q TXHVWR FDVR LO JLRUQR q
FRQVLGHUDWR IHULDOH
3HUPHWWH GL LPSRVWDUH TXDOH YDORUH GHOOD VRQGD YLVXDOL]]DUH VXO GLVSOD\ GHOOD WDVWLHUD 7
WG)
\ · Q SUHVHQ]D RURORJLR LQWHUQR
OR
VEULQDPHQWR
·PLQ
WHPSR
FKH
LQWHUFRUUH
WUD
LO
WHUPLQH
GHOOR
//L
6LQFURQL]]D]LRQH /XFL
VEULQDPHQWR H OD ULSUHVD GHO IXQ]LRQDPHQWR QRUPDOH GHL YHQWLODWRUL
\
,O FRPDQGR /XFL GDWR GDOOD VH]LRQH ORFDOH DJLVFH DQFKH LQ WXWWH OH DOWUH VH]LRQL
7HPSHUDWXUD EORFFR YHQWLODWRUL ·ƒ& ·ƒ) 6H OD WHPSHUDWXUD ULOHYDWD GDOOD VRQGD GL
Q
,O FRPDQGR /XFL DJLVFH VRODPHQWH QHOOD VH]LRQH ORFDOH
HYDSRUDWRUH q PDJJLRUH GL ³)6W´ OH YHQWROH YHQJRQR IHUPDWH 6HUYH SHU LPPHWWHUH DULD VXIILFLHQWHPHQWH
/$8 6LQFURQL]]D]LRQH XVFLWD DXVLOLDULD
IUHGGD QHOOD FHOOD
\
,O
FRPDQGR
DWWLYD]LRQH
XVFLWD
DXVLOLDULD
GDWR
GDOOD
VH]LRQH
ORFDOH
DJLVFH
DQFKH
LQ
WXWWH
OH
DOWUH
VH]LRQL
$//$50(
Q
$/& &RQILJXUD]LRQH DOODUPL VWDELOLVFH VH JOL DOODUPL GL WHPSHUDWXUD VRQR UHODWLYL DO VHW SRLQW R VRQR GHOOH
WHPSHUDWXUH DVVROXWH
U(
\
UHODWLYL DO VHW SRLQW $E
DVVROXWL
U( ·ƒ& ·ƒ) 6H $/&
$E $//·ƒ& $//·ƒ)
DO UDJJLXQJLPHQWR GL WDOH WHPSHUDWXUD YLHQH DWWLYDWR O¶DOODUPH HYHQWXDOPHQWH GRSR LO WHPSR GL ULWDUGR $/G
$OODUPH PLQLPD WHPSHUDWXUD VH $/&
U( ·ƒ& ·ƒ) 6H $/& $E $/8·ƒ& $/8·ƒ) DO
FRPDQGR
IXQ]LRQDPHQWR
QRWWXUQR
GDWR
Q
\
UDJJLXQJLPHQWR GL WDOH WHPSHUDWXUD YLHQH DWWLYDWR O¶DOODUPH HYHQWXDOPHQWH GRSR LO WHPSR GL ULWDUGR $/G
VH]LRQH
ORFDOH
DJLVFH
DQFKH
LQ
WXWWH
GD
XQD
OH
$ELOLWD
OD
YLVXDOL]]D]LRQH
Q
GHO
YDORUH
PLVXUDWR
GD
XQD
VRQGD
UHPRWD
LQYLDWD
VH]LRQH
9LVXDOL]]D LO YDORUH GL XQD GHOOH VRQGH ORFDOL VHFRQGR TXDQWR SURJUDPPDWR QHO SDUDPHWUR /RG
5LWDUGR DOODUPH WHPSHUDWXUD · PLQ LQWHUYDOOR GL WHPSR WUD OD ULOHYD]LRQH GL XQ VHJQDOH GL DOODUPH
$/752
WHPSHUDWXUD H OD VXD VHJQDOD]LRQH
G$2 5LWDUGR DOODUPH WHPSHUDWXUD DO SRZHU 21 PLQ·K PLQ ,QWHUYDOOR GL WHPSR WUD OD ULOHYD]LRQH GHOOD
$GU
FRQGL]LRQH GL DOODUPH WHPSHUDWXUD DOO¶DFFHQVLRQH GHOOR VWUXPHQWR H OD VXD VHJQDOD]LRQH
(G$ (VFOXVLRQH DOODUPH WHPSHUDWXUD GRSR VEULQDPHQWR ÷PLQ ,QWHUYDOOR GL WHPSR FKH LQWHUFRUUH WUD OD
ULOHYD]LRQH GHOOD FRQGL]LRQH GL DOODUPH WHPSHUDWXUD DOOD ILQH GHOOR VEULQDPHQWR H OD VXD VHJQDOD]LRQH
,1*5(66, $1$/2*,&,
÷
÷
,QGLUL]]R VHULDOH 56 ·
,GHQWLILFD OR VWUXPHQWR TXDQGR YLHQH LQVHULWR LQ XQ VLVWHPD GL FRQWUROOR R PRQLWRUDJJLR FRPH O¶;-
G3 9LVXDOL]]D]LRQH YDORUH VRQGD PRVWUD LO YDORUH PLVXUDWR GDOOD VRQGD G3 9LVXDOL]]D]LRQH YDORUH VRQGD PRVWUD LO YDORUH PLVXUDWR GDOOD VRQGD G3 9LVXDOL]]D]LRQH YDORUH VRQGD PRVWUD LO YDORUH PLVXUDWR GDOOD VRQGD 5HO
5HOHDVH VRIWZDUH VROD OHWWXUD
7DEHOOD SDUDPHWUL VROD OHWWXUD VHUYH DG LGHQWLILFDUH OD PDSSD SDUDPHWUL LPSRVWDWD LQ IDEEULFD
2W
&DOLEUD]LRQH VRQGD WHUPRVWDWR ƒ& ·ƒ) SHUPHWWH GL WDUDUH OD VRQGD WHUPRVWDWR
3WE
2(
&DOLEUD]LRQH VRQGD HYDSRUDWRUH ƒ& ·ƒ) SHUPHWWH GL WDUDUH OD VRQGD HYDSRUDWRUH
3U
,QJUHVVR OLVWD SDUDPHWUL SURWHWWD VROD OHWWXUD
2
&DOLEUD]LRQH VRQGD DXVLOLDULD ƒ& ·ƒ) SHUPHWWH GL WDUDUH OD VRQGD DXVLOLDULD
33
3UHVHQ]D VRQGD Q VRQGD DVVHQWH VEULQDPHQWR D
,1*5(66, ',*,7$/,
÷
WHPSR \ VRQGD SUHVHQWH VEULQDPHQWR D
WHPSHUDWXUD
1HOO¶;0. H ;0. VRQR SUHVHQWL GXH LQJUHVVL GLJLWDOL FRQWDWWR SXOLWR ,O SULPR LQJUHVVR GLJLWDOH q GHGLFDWR DO
3UHVHQ]D VRQGD Q VRQGD DVVHQWH \ VRQGD SUHVHQWH
+(6 ,QFUHPHQWR GL
WHPSHUDWXUD GXUDQWH LO IXQ]LRQDPHQWR QRWWXUQR ƒ&
÷
6WDELOLVFH GL TXDQWR DXPHQWD R GLPLQXLVFH LO VHW SRLQW GXUDQWH LO FLFOR GL (QHUJ\ 6DYLQJ
ƒ& ·ƒ)
IXQ]LRQDPHQWR QRWWXUQR HQHUJ\ VDYLQJ LO VHFRQGR LQYHFH KD GLYHUVH FRQILJXUD]LRQL LPSRVWDELOL GD SDUDPHWUR
³,)´
,1*5(66, ',*,7$/,
,3
DOWUH
,O FRPDQGR IXQ]LRQDPHQWR QRWWXUQR DJLVFH VRODPHQWH QHOOD VH]LRQH ORFDOH
DYHQWH LO SDUDPHWUR /G6
DOODUPL GL WHPSHUDWXUD H GHOO¶DWWLYD]LRQH GHOOH YHQWROH
33
GDOOD
/6G 9LVXDOL]]D]LRQH VRQGD UHPRWD
$)+ ,VWHUHVL $OODUPH WHPSHUDWXUDYHQWROH ·ƒ& ·ƒ) 'LIIHUHQ]LDOH GL LQWHUYHQWR GHO VHW SRLQW GHJOL
$/G
,O
VH]LRQL
$/8 $OODUPH 0$66,0$ WHPSHUDWXUD VH $/&
$//
,O FRPDQGR DWWLYD]LRQH XVFLWD DXVLOLDULD DJLVFH VRODPHQWH QHOOD VH]LRQH ORFDOH
/(6 6LQFURQL]]D]LRQH IXQ]LRQDPHQWR QRWWXUQR HQHUJ\ VDYLQJ
3RODULWj LQJUHVVR PLFURSRUWD
;0B.
,7$GRF
;0.
/LEUHWWRGLLVWUX]LRQL
,1*5(662 )81=,21$0(172 12778512 (1(5*< 6$9,1*
UHO ² FRG ',0$ ', )25$785$ 9
∅
'XUDQWH LO FLFOR GL (QHUJ\ 6DYLQJ LO VHW SRLQW YLHQH LQFUHPHQWDWR GHO YDORUH FRQWHQXWR LQ +(6 LQ PRGR FKH LO VHW
/D WDVWLHUD 9 YD PRQWDWD D SDQQHOOR YHUWLFDOH VX IRUR [ PP H ILVVDWD XVDQGR YLWL
SRLQW RSHUDWLYR GLYHQWL 6(7+(6 1DWXUDOPHQWH LO VHW SRLQW RSHUDWLYR GHYH HVVHUH WDOH GD ULVSHWWDUH OH QRUPH FKH
RWWHQHUH XQD SURWH]LRQH IURQWDOH ,3 XWLOL]]DUH OD JRPPD GL SURWH]LRQH IURQWDOH PRG 5*:9 RS]LRQDOH
[ PP 3HU
UHJRODQR OD FRQVHUYD]LRQH GHO SURGRWWR ,O FLFOR GL (QHUJ\ 6DYLQJ FRQWLQXD ILQFKp O¶LQJUHVVR ULPDQH DWWLYR
,1*5(662 &21),*85$%,/( $//$50( (67(512 ($/
'RSR XQ ULWDUGR GL SDUDPHWUR ³GLG´ GDOO¶DWWLYD]LRQH GHOO¶LQJUHVVR YLHQH JHQHUDWR XQ DOODUPH YLHQH YLVXDOL]]DWR LO
PHVVDJJLR ³($/´ H OR VWDWR GHOOH XVFLWH QRQ YLHQH PRGLILFDWR ,O ULSULVWLQR GHOO¶DOODUPH q DXWRPDWLFR DSSHQD
O¶LQJUHVVR GLJLWDOH YLHQH GLVDWWLYDWR
,1*5(662 &21),*85$%,/( $//$50( (67(512 ', %/2&&2 %$/
'RSR XQ ULWDUGR GL SDUDPHWUR ³GLG´ GDOO¶DWWLYD]LRQH GHOO¶LQJUHVVR YLHQH JHQHUDWR XQ DOODUPH GL EORFFR YLHQH
YLVXDOL]]DWR LO PHVVDJJLR ³E$/´ H GLVDWWLYDWH OH XVFLWH UHOD\ GHOOD UHJROD]LRQH
,O ULSULVWLQR GHOO¶DOODUPH q DXWRPDWLFR DSSHQD O¶LQJUHVVR GLJLWDOH YLHQH GLVDWWLYDWR
,1*5(662 &21),*85$%,/( $99,2 &,&/2 ', 6%5,1$0(172 ')5
$YYLD XQ FLFOR GL VEULQDPHQWR VH FL VRQR OH FRQGL]LRQL $O WHUPLQH GHOOR VEULQDPHQWR OD UHJROD]LRQH QRUPDOH
ULSUHQGH VROR VH O¶LQJUHVVR GLJLWDOH QRQ q DWWLYR
,1*5(662 &21),*85$%,/( 212)) 5(0272 21)
$OOD DWWLYD]LRQH GHOO¶LQJUHVVR GLJLWDOH YLHQH VSHQWR OR VWUXPHQWR
$OOD GLVDWWLYD]LRQH GHOO¶LQJUHVVR GLJLWDOH YLHQH DFFHVR OR VWUXPHQWR
,1*5(662 &21),*85$%,/( )81=,21$0(172 )(67,92+')
$OOD DWWLYD]LRQH GHOO¶LQJUHVVR GLJLWDOH L FLFOL GL (QHUJ\ VDYLQJ H GL 6EULQDPHQWR VHJXRQR JOL RUDUL IHVWLYL $OOD
GLVDWWLYD]LRQH GHOO¶LQJUHVVR GLJLWDOH L FLFOL GL (QHUJ\ VDYLQJ H GL 6EULQDPHQWR VHJXRQR JOL RUDUL IHULDOL
32/$5,7­ ,1*5(66, ',*,7$/,
/D SRODULWj GHJOL LQJUHVVL GLJLWDOL GLSHQGH GDL SDUDPHWUL ³,3´ H ³,3´
&/ DWWLYR SHU FRQWDWWR FKLXVR 23 DWWLYR SHU FRQWDWWR DSHUWR
',0$ ', )25$785$ &
/D WDVWLHUD & YD
PRQWDWD D SDQQHOOR VX IRUR [ PP H ILVVDWD FRQ O¶DSSRVLWD VWDIID LQ GRWD]LRQH
,167$//$=,21( ( 0217$**,2
/¶;0. YD LQVWDOODWR DOO¶LQWHUQR GHOOD PDFFKLQD FRQ GXH R SL YLWL SDVVDQWL H FROOHJDWL DOOD WDVWLHUD WUDPLWH GXH ILOL
GL
∅ PP ,O FDPSR GL WHPSHUDWXUD DPPHVVR SHU XQ FRUUHWWR IXQ]LRQDPHQWR q FRPSUHVR WUD H ƒ& (YLWDUH L
OXRJKL VRJJHWWL D IRUWL YLEUD]LRQL JDV FRUURVLYL D HFFHVVLYD VSRUFL]LD R XPLGLWj /H VWHVVH LQGLFD]LRQL YDOJRQR
DQFKH SHU OH VRQGH /DVFLDUH DUHDWD OD ]RQD LQ SURVVLPLWj GHOOH IHULWRLH GL UDIIUHGGDPHQWR
',0$ ', )25$785$ 7
/D WDVWLHUD 7 YD PRQWDWD D SDQQHOOR YHUWLFDOH VX IRUR [PP H ILVVDWH FRQ YLWL
∅ [ PP FRQ GLVWDQ]D
PP 3HU RWWHQHUH XQD SURWH]LRQH IURQWDOH ,3 XWLOL]]DUH OD JRPPD GL SURWH]LRQH IURQWDOH PRG 5*/
RS]LRQDOH
&2//(*$0(17, (/(775,&,
, PRGXOL GL SRWHQ]D GHOOD VHULH ;0 VRQR GRWDWL QHOOD SDUWH GHGLFDWD DO FROOHJDPHQWR GHOOD WDVWLHUD H GHOO¶XVFLWD
VHULDOH 56 RS]LRQDOH GL XQD PRUVHWWLHUD D YLWH SHU LO FROOHJDPHQWR GL FDYL FRQ VH]LRQH PDVVLPD GL PP 3HU LO FROOHJDPHQWR GL WXWWL JOL DOWUL LQJUHVVL GHOO¶DOLPHQWD]LRQH H WXWWL L UHOD\ OH FRQQHVVLRQL VRQR D )DVWRQ PDVFKL
GD PP 8WLOL]]DUH FRQGXWWRUL UHVLVWHQWL DO FDORUH 3ULPD GL FRQQHWWHUH L FDYL DVVLFXUDUVL FKH OD WHQVLRQH GL
‘ [
DOLPHQWD]LRQH VLD FRQIRUPH D TXHOOR GHOOR VWUXPHQWR 6HSDUDUH L FDYL GL FROOHJDPHQWR GHOOH VRQGH GD TXHOOL GL
0217$**,2 9(75,12 ( &$/277( )5217$/, &21 $3(5785$ 9(562 ,/ %$662
DOLPHQWD]LRQH GDOOH XVFLWH H GDL FROOHJDPHQWL GL SRWHQ]D 1RQ VXSHUDUH OD FRUUHQWH PDVVLPD FRQVHQWLWD VX
FLDVFXQ UHOq YHGL GDWL WHFQLFL LQ FDVR GL FDULFKL VXSHULRUL XVDUH XQ WHOHUXWWRUH GL DGHJXDWD SRWHQ]D
1% /D FRUUHQWH WRWDOH PDVVLPD VXL FDULFKL QRQ GHYH VXSHUDUH L $
621'(
6L FRQVLJOLD GL SRVL]LRQDUH OD VRQGD WHUPRVWDWR LQ OXRJKL QRQ GLUHWWDPHQWH LQYHVWLWL GD IOXVVL G¶DULD LQ PRGR GD
SRWHU ULOHYDUH OD WHPSHUDWXUD PHGLD GHOOD FHOOD &ROORFDUH OD VRQGD GL ILQH VEULQDPHQWR WUD OH DOHWWH
& /,&.
GHOO¶HYDSRUDWRUH QHO SXQWR FKH VL SUHVXPH SL IUHGGR H TXLQGL FRQ OD PDJJLRUH IRUPD]LRQH GL JKLDFFLR FRPXQTXH
ORQWDQR GDOOH UHVLVWHQ]H R GDO SXQWR SL IDFLOPHQWH ULVFDOGDELOH GXUDQWH OR VEULQDPHQWR SHU HYLWDUH O¶DUUHVWR
DQWLFLSDWR GL TXHVW¶XOWLPR
/,1($ 6(5,$/( 77/56
/D OLQHD VHULDOH 77/ SHUPHWWH WUDPLWH XQ PRGXOR HVWHUQR 77/56 ;- GL LQWHUIDFFLDUVL FRQ XQ VLVWHPD GL
PRQLWRUDJJLR 0RG%86578 FRPSDWLELOH FRPH O¶;- 'L[HOO
8WLOL]]DQGR OD VWHVVD XVFLWD VHULDOH q SRVVLELOH VFDULFDUH H FDULFDUH O¶LQWHUD OLVWD SDUDPHWUL WUDPLWH OD FKLDYHWWD GL
SURJUDPPD]LRQH ³+27 .(<´ *OL VWUXPHQWL SRVVRQR HVVHUH ULFKLHVWL DQFKH FRQ LO FROOHJDPHQWR VHULDOH 56
GLUHWWR 2S]LRQDOH
&+,$9(77$ ', 352*5$00$=,21(
352&('85$ ', 6&$5,&2 '(, '$7, '$//$ &+,$9(77$ $//2 67580(172
$OOD DFFHQVLRQH GHOOR VWUXPHQWR GD SRZHU RQ R GD WDVWLHUD VH OD FKLDYHWWD q LQVHULWD DYYLHQH LO '2:1/2$'
0217$**,2 9(75,12 ( &$/277( )5217$/, &21 $3(5785$ 9(562 /·$/72
DXWRPDWLFR GHL GDWL GDOOD FKLDYHWWD DOOR VWUXPHQWR
'XUDQWH TXHVWD IDVH OH UHJROD]LRQL VRQR EORFFDWH H D GLVSOD\ YLHQH YLVXDOL]]DWR LO PHVVDJJLR ³GR/´ ODPSHJJLDQWH
$OOD ILQH GHOOD IDVH GL SURJUDPPD]LRQH OR VWUXPHQWR YLVXDOL]]D L VHJXHQWL PHVVDJJL SHU VHF
³HQG ³ OD SURJUDPPD]LRQH q DQGDWD D EXRQ ILQH H OR VWUXPHQWR ULSDUWH UHJRODUPHQWH
³HUU´ OD SURJUDPPD]LRQH QRQ q DQGDWD D EXRQ ILQH H OR VWUXPHQWR GHYH HVVHUH VSHQWR H DFFHVR SHU ULSHWHUH
O¶RSHUD]LRQH R SHU SDUWLUH FRQ OD QRUPDOH UHJROD]LRQH ,Q TXHVWR FDVR OD FKLDYHWWD GHYH HVVHUH VFROOHJDWD D
VWUXPHQWR VSHQWR
352&('85$ ', 6&$5,&2 '(, '$7, '$//2 67580(172 $//$ &+,$9(77$
/R VWUXPHQWR SXz DQFKH HVHJXLUH O¶83/2$' VFDULFDQGR L GDWL GDOOD SURSULD ( DOOD FKLDYHWWD
$OO¶LQVHULPHQWR GHOOD FKLDYHWWD D VWUXPHQWR DFFHVR SUHPHQGR LO WDVWR ´83µ VL DYYLD O¶RSHUD]LRQH GL ³83/2$'´
'XUDQWH TXHVWD IDVH OD ODEHO ³X3/´ ODPSHJJLD
$OOD ILQH GHOOD IDVH GL SURJUDPPD]LRQH OR VWUXPHQWR YLVXDOL]]D L VHJXHQWL PHVVDJJL SHU VHF
³HQG ³ OD SURJUDPPD]LRQH q DQGDWD D EXRQ ILQH H OR VWUXPHQWR ULSDUWH UHJRODUPHQWH
³HUU´ OD SURJUDPPD]LRQH QRQ q DQGDWD D EXRQ ILQH 3UHPHQGR LO WDVWR ³X3´ VL ULDYYLD OD SURJUDPPD]LRQHX3/
ODPSHJJLDQWH R VFDGXWL L GLHFL VHFRQGL OR VWUXPHQWR ULSDUWH UHJRODUPHQWH
& /,&.
$//$50,
/H VHJQDOD]LRQL GL DOODUPH YLVXDOL]]DWH VXOOD WDVWLHUD SRVVRQR HVVHUH GLYLVH LQ JUXSSL
;0B.
,7$GRF
$OODUPL ORFDOL L TXDOL LQFOXGRQR WXWWL JOL DOODUPL UHODWLYL DOOD VH]LRQH GLUHWWDPHQWH FRQWUROODWD GDOOD WDVWLHUD
$OODUPL UHPRWL L TXDOL LQFOXGRQR WXWWL TXHJOL DOODUPL UHODWLYL DOOD /$1
;0.
/LEUHWWRGLLVWUX]LRQL
/D VHJQDOD]LRQH D GLVSOD\ SHUPDQH ILQFKp OD FRQGL]LRQH GL DOODUPH QRQ q ULHQWUDWD 7XWWL L PHVVDJJL GL DOODUPH
/XFH
ODPSHJJLDQGR DOWHUQDQGRVL DOOD WHPSHUDWXUD GHOOD VRQGD HFFHWWR ³3´ FKH q VHPSUH ODPSHJJLDQWH
9HQWROH
/¶DOODUPH ³((´ SXz HVVHUH FDQFHOODWR FRQ OD SUHVVLRQH GL XQ WDVWR TXDOVLDVL GXUDQWH OD VHJQDOD]LRQH GL DOODUPH
6EULQDPHQWR
6XFFHVVLYDPHQWH YLHQH YLVXDOL]]DWR LO PHVVDJJLR ³U6W´ SHU FLUFD V SULPD GL ULSUHQGHUH LO IXQ]LRQDPHQWR QRUPDOH
UHO ² FRG UHOq 6367 $ 9DF
UHOq 6367 $ 9DF
UHOq 6367 $ 9DF
8VFLWD VHULDOH 56 RS]LRQDOH
3URWRFROOR GL FRPXQLFD]LRQH
$//$50, /2&$/,
0RG%86 578
0DQWHQLPHQWR GDWL VX PHPRULD QRQ YRODWLOH ((3520
0DQWHQLPHQWR GDWL 57& LQ PDQFDQ]D GL DOLPHQWD]LRQH RUH
0HVVDJJLR
&DXVD
7LSR GL D]LRQH %
6WDWR GHOOH XVFLWH
³3´
6RQGD WHUPRVWDWR JXDVWD 8VFLWD VHFRQGR SDUDPHWUL ³&RQ´ H ³&2)´
³3´
6RQGD
6LWXD]LRQH GL SROOX]LRQH QRUPDOH
&ODVVH VRIWZDUH $
HYDSRUDWRUH 1RQ PRGLILFDWH
7HPSHUDWXUD GL LPSLHJR · ƒ&
JXDVWD
³3´
6RQGD DXVLOLDULD JXDVWD
³+$´
$OODUPH
GL
7HPSHUDWXUD GL LPPDJD]]LQDPHQWR · ƒ&
1RQ PRGLILFDWH
÷ VHQ]D FRQGHQVD
8PLGLWj UHODWLYD DOWD 1RQ PRGLILFDWH
&DPSR GL PLVXUD H UHJROD]LRQH
WHPSHUDWXUD
³/$´
$OODUPH
GL
6RQGD 17& ·ƒ& ·ƒ)
EDVVD 1RQ PRGLILFDWH
5LVROX]LRQH ƒ& RSSXUH ƒ)
WHPSHUDWXUD
³((´
3UHFLVLRQH D ƒ& “ ƒ& “ GLJLW
$QRPDOLD QHOOD PHPRULD
³($/´
$OODUPH
³%$/´
$OODUPH
GD
LQJUHVVR 1RQ PRGLILFDWH
GLJLWDOH
GL
EORFFR
LQJUHVVR GLJLWDOH
³UWF´
$OODUPH RURORJLR
³UW)´
6&+(0, ', &2//(*$0(172
;0.
GD 8VFLWH GL UHJROD]LRQH GLVDWWLYDWH
1RQ PRGLILFDWH
$OODUPH RURORJLR JXDVWR 8VFLWD DOODUPH DWWLYD OH DOWUH XVFLWH QRQ VRQR PRGLILFDWH
Comp. Light Defrost
QRQ SUHVHQWH
³$6Q´
&DXVH
/D VH]LRQH
Q q LQ DOODUPH FRQ Q
LQGLUL]]R VHULDOH GHOOD /$1 SDUDPHWUR ³/DQ4XHVWR DOODUPH
8A
20A
16A
250Vac 250Vac 250Vac
YLHQH YLVXDOL]]DWR VRODPHQWH VH OD WDVWLHUD q LQ PRGDOLWj ³$//´ 4XHVWD q XQ¶LQGLFD]LRQH JHQHULFD
GHOOR VWDWR GL DOODUPH SHU DYHUH LQIRUPD]LRQL SL GHWWDJOLDWH RFFRUH LPSRVWDUH OD WDVWLHUD LQ PRGR
XM440K
FKH FRQWUROOL TXHOOD VSHFLILFD VH]LRQH
³Q/Q´
³Q/Q´
$OODUPH GL 1R OLQN PDQFDQ]D GL FRPXQLFD]LRQH FRQ OD VH]LRQH
Q
SDUDPHWUR ³/DQ´
$OODUPH GL 1R OLQN PDQFDQ]D GL FRPXQLFD]LRQH PHQWUH VL VWD YLVXDOL]]DQGR XQD VRQGD UHPRWD
4XHVWR DOODUPH FRPSDUH VRODPHQWH VH LO SDUDPHWUR /G6 GHOOD VH]LRQH q LPSRVWDWR VX ³\´
Hot Key
for programming
+
³UG(´
-
RS 485
(UURUH YLVXDOL]]DWRUH UHPRWR 3L GL XQD WDVWLHUD q VWDWD LPSRVWDWD SHU LO FRQWUROOR UHPRWR
+
0HVVDJH
Line
$//$50, 5(027,
-
Keyboard
7$&,7$=,21( %8==(5 ( 86&,7$ $//$50(
8QD YROWD ULOHYDWD OD VHJQDOD]LRQH GL DOODUPH LO EX]]HU H O¶XVFLWD DOODUPH VL SRVVRQR GLVDWWLYDUH FRQ OD SUHVVLRQH GL
XQ WDVWR TXDOVLDVL &RPXQTXH OD VHJQDOD]LRQH D GLVSOD\ SHUPDQH ILQFKp OD FRQGL]LRQH GL DOODUPH QRQ q ULHQWUDWD
e SRVVLELOH LQLELUH OD GLVDWWLYD]LRQH GHO UHOD\ GL DOODUPH LPSRVWDQGR LO SDUDPHWUR ³WE$´ D ´Qµ LQ TXHVWR FDVR LO UHOq
DOODUPH ULPDQH DWWLYR ILQFKp GXUD OD FRQGL]LRQH GL DOODUPH
-
+
,O EX]]HU GL VHJQDOD]LRQH VL WURYD QHOOH WDVWLHUH 7 H 9 q RS]LRQDOH
+
Lan
/·$//$50( ´((µ
-
Lan
Display Room Evaporator
*OL VWUXPHQWL GHOOD VHULH 'L[HOO VRQR GRWDWL GL XQ FRQWUROOR LQWHUQR FKH YHULILFD O¶LQWHJULWj GHL GDWL /¶DOODUPH ³((´
ODPSHJJLDQWH LQ DOWHUQDQ]D DOOD WHPSHUDWXUD VHJQDOD OD SUHVHQ]D GL XQ¶DQRPDOLD QHL GDWL
02'$/,7­ ', 5,(1752 '(*/, $//$50,
*OL DOODUPL VRQGD 3 3 H ³3 VFDWWDQR GRSR FLUFD VHFRQGL GDO
JXDVWR
GHOOD
VRQGD
Conf. Energy
Input saving
;0.
ULHQWUD
DXWRPDWLFDPHQWH VHFRQGL GRSR FKH OD VRQGD ULSUHQGH D IXQ]LRQDUH UHJRODUPHQWH 3ULPD GL VRVWLWXLUH OD VRQGD
Fan
Comp. Light Defrost
8A
250Vac
8A
20A
16A
250Vac 250Vac 250Vac
VL FRQVLJOLD GL YHULILFDUQH OH FRQQHVVLRQL
*OL DOODUPL GL WHPSHUDWXUD +$ H /$ ULHQWUDQR DXWRPDWLFDPHQWH QRQ DSSHQD OD WHPSHUDWXUD GHO WHUPRVWDWR
Line
ULHQWUD QHOOD QRUPDOLWj DOOD SDUWHQ]D GL XQR VEULQDPHQWR R DOO¶DSHUWXUD GHOOD SRUWD
Q
*OL DOODUPL GL 1R OLQN ´Q/ µ H ´Q/Qµ ULHQWUDQR DXWRPDWLFDPHQWH DSSHQD VL ULVWDELOLVFH OD FRPXQLFD]LRQH FRUUHWWD
WUD OH GXH VH]LRQL
/¶ DOODUPH GL LQJUHVVR GLJLWDOH µ($/ H ³%$/´ ULHQWUDQR DXWRPDWLFDPHQWH DOOD GLVDWWLYD]LRQH GHOO¶LQJUHVVR
'$7, 7(&1,&,
7DVWLHUH 9 H 7
XM460K
&RQWHQLWRUH $%6 DXWRHVWLQJXHQWH
)RUPDWR
7 IURQWDOH [ PP SURIRQGLWj PP
-
RS 485
-
∅ [ PP GLVWDQ]D WUD L IRUL PP
9 D SDQQHOOR VX IRUR GL GLPHQVLRQL [ PP FRQ YLWL ∅ [ PP
7 D SDQQHOOR VX IRUR GL GLPHQVLRQL [ PP FRQ YLWL
+
Hot Key
for programming
+
9 IURQWDOH [PP SURIRQGLWj PP
0RQWDJJLR
Keyboard
*UDGR SURWH]LRQH ,3
*UDGR SURWH]LRQH IURQWDOH ,3 FRQ JXDUQL]LRQH IURQWDOH PRG 5*/ H 5*:9
&RQQHVVLRQL PRUVHWWLHUD D YLWH SHU FRQGXWWRUL
≤ PP UHVLVWHQWL DO FDORUH
$OLPHQWD]LRQH GD PRGXOR ;0.
-
+
9LVXDOL]]D]LRQH WUH FLIUH /(' URVVL DOWH]]D PP
Lan
8VFLWD RS]LRQDOH EX]]HU
+
-
Lan
Display Room Evaporator
7DVWLHUD &
Conf. Energy
Input saving
&RQWHQLWRUH $%6 DXWRHVWLQJXHQWH
)RUPDWR
IURQWDOH [ PP SURIRQGLWj PP
0RQWDJJLR PRQWDJJLR D SDQQHOOR VX IRUPR
*UDGR SURWH]LRQH IURQWDOH
&RQQHVVLRQL PRUVHWWLHUD D YLWH SHU FRQGXWWRUL
0$33$ 3$5$0(75,
[ PP
,3
≤ PP UHVLVWHQWL DO FDORUH
/DEHO 1RPH
9LVXDOL]]D]LRQH WUH FLIUH /(' URVVL DOWH]]D PP
8VFLWD RS]LRQDOH EX]]HU
/LPLWL
'HIDXOW
;0
;0
ƒ&ƒ)
/HYHO
/HYHO
/6·86
3U
3U
· ƒ& ·ƒ)
3U
3U
3U
3U
5(*2/$=,21(
$OLPHQWD]LRQH GD PRGXOR GL SRWHQ]D
6HW
6HW SRLQW
+\
,VWHUHVL
/6
6HW 3RLQW PLQLPR
ƒ&·6(7 0RGXOR GL SRWHQ]D ;0. H ;0.
ƒ)·6(7
)RUPDWR
´26µ D JLRUQR [ PP DOWH]]D PP
86
6HW 3RLQW PDVVLPR
2G6
5LWDUGR
DWWLYD]LRQH
6(7 · ƒ&6(7·ƒ)
3U
3U
DO
· PLQ
3U
3U
· PLQ
3U
3U
VRQGD
· PLQ
3U
3U
VRQGD
· PLQ
3U
3U
XVFLWH
´*6µ ,Q VFDWROD $%6 DXWRHVWLQJXHQWH [ PP DOWH]]D PP ,3
&RQQHVVLRQL PRUVHWWLHUD D YLWH SHU FRQGXWWRUL
$OLPHQWD]LRQH 9DF RSS 9DF
≤ PP R
SRZHU RQ
)DVWRQ PDVFKL PP UHVLVWHQWL DO FDORUH ± +]
3RWHQ]D DVVRUELWD 9$ PD[
$&
5LWDUGR SDUWHQ]H UDYYLFLQDWH
&2Q
7HPSR
,QJUHVVL VRQGH 17&
,QJUHVVL 'LJLWDOL
21
FRQ
JXDVWD
FRQWDWWR SXOLWR
&2)
8VFLWH VX UHOq FRUUHQWH FRPSOHVVLYD VXL FDULFKL 0$; $
9DOYROD VROHQRLGH
FRPSU
7HPSR
FRPSU
2))
FRQ
JXDVWD
UHOq 6367 $ 9DF
;0B.
,7$GRF
;0.
/LEUHWWRGLLVWUX]LRQL
/DEHO 1RPH
/LPLWL
'HIDXOW
;0
;0
9,68$/,==$=,21(
&)
8QLWj PLVXUD WHPSHUDWXUD ƒ& · ƒ)
ƒ&ƒ)
3U
3U
&HOVLXV )DKUHQKHLW
U(6
5LVROX]LRQH
SHU
ƒ&
/RG
9LVXDOL]]D]LRQH VX GLVSOD\
LQWHUR
LQ · GH
GH
3U
3U
3 · U
3
3U
3U
'HIDXOW
;0
;0
6G
/DEHO 1RPH
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
QX
3U
3U
/6Q
1XPHUR GL VH]LRQL GHOOD /$1
6%5,1$0(172
WG)
7LSR GL VEULQDPHQWR
U(
LQ
U(
3U
3U
(G)
0RGDOLWj GL VEULQDPHQWR
UWF ,Q 6G
UWF
3U
3U
6G)
6HW
· ƒ& ·ƒ)
3U
3U
·ƒ& ·ƒ)
3U
3U
SRLQW
SHU
FRQWHJJLR
6PDUW
U7
'HIURVW
7HPSHUDWXUD ILQH VEULQDPHQWR
,G)
,QWHUYDOOR IUD L FLFOL GL VEULQDPHQWR
0G)
'XUDWD PDVVLPD VEULQDPHQWR
G)G
/LPLWL
/DQ
,QGLUL]]R 6HULDOH /$1
/63
· K PLQ QX
&21),*85$=,21( /$1
GHFLPDOH
GW(
UHO ² FRG 9LVXDOL]]D]LRQH
GXUDQWH
OR
·RUH
3U
3U
· PLQ
3U
3U
UW LW 6(W G() G(*
LW
3U
3U
· PLQ
3U
3U
· 3U
3U
· /6Q
3U
3U
6LQFURQL]]D]LRQH 6HW 3RLQW
Q · \
Q
3U
3U
/GV
6LQFURQL]]D]LRQH 'LVSOD\
Q · \
Q
3U
3U
/2)
6LQFURQL]]D]LRQH 2Q2II
Q · \
Q
3U
3U
//L
6LQFURQL]]D]LRQH /XFL
Q · \
Q
3U
3U
/$8
6LQFURQL]]D]LRQH XVFLWD $XVLOLDULD
Q · \
Q
3U
3U
/(6
6LQFURQL]]D]LRQH (QHUJ\ 6DYLQJ
Q · \
Q
3U
3U
/6G
9LVXDOL]]D]LRQH VRQGD UHPRWD
Q · \
Q
3U
3U
$/752
VEULQDPHQWR
G$G
5LWDUGR
YLVXDOL]]D]LRQH
$GU
,QGLUL]]R VHULDOH 56
·
3U
3U
G3
9LVXDOL]]D]LRQH YDORUH VRQGD 3U
3U
G3
9LVXDOL]]D]LRQH YDORUH VRQGD 3U
3U
G3
9LVXDOL]]D]LRQH YDORUH VRQGD 3U
3U
U(/
9HUVLRQH GHO 6RIWZDUH
3U
3U
3WE
&RGLFH GHOOD PDSSD SDUDPHWUL
3U
3U
3U
$FFHVVR DOOD OLVWD SDUDPHWUL 35
3U
3U
WHPSHUDWXUD
GRSR VEULQDPHQWR
)GW
G32
7HPSR VJRFFLRODPHQWR
· PLQ
6EULQDPHQWR DOO
DFFHQVLRQH
3U
3U
Q · \
Q
3U
3U
&Q &\ 2Q 2\
2Q
1'
3U
· PLQ
1'
3U
·ƒ& ·ƒ)
1'
3U
5H · $E
U(
3U
3U
9(17,/$725,
)Q&
)XQ]LRQDPHQWR YHQWLODWRUL
)QG
5LWDUGR
)6W
7HPSHUDWXUD EORFFR YHQWLODWRUL
YHQWLODWRUL
GRSR
OR
'L[HOO VUO 9LD GHOO¶,QGXVWULD =, 3LHYH G¶$OSDJR %/ ,7$/<
VEULQDPHQWR
$/&
WHO ID[ E-mail:[email protected] - http://www.dixell.com
$//$50(
&RQILJXUD]LRQH DOODUPL UHODWLYL DVVROXWL
$/X
$OODUPH GL PDVVLPD WHPSHUDWXUD
·ƒ& ·ƒ)
3U
3U
$//
$OODUPH PLQLPD WHPSHUDWXUD
·ƒ& ·ƒ)
3U
3U
$)+
,VWHUHVL
· ƒ& ·ƒ)
3U
3U
$OODUPH
WHPSHUDWXUD
YHQWROH
$/G
5LWDUGR DOODUPH WHPSHUDWXUD
G$2
5LWDUGR
DOODUPH
WHPSHUDWXUD
DO
· PLQ
3U
3U
· K PLQ
3U
3U
· PLQ
3U
3U
3U
SRZHURQ
(G$
(VFOXVLRQH
DOODUPH
WHPSHUDWXUD
GRSR VEULQDPHQWR
,1*5(66, $1$/2*,&,
2W
&DOLEUD]LRQH VRQGD WHUPRVWDWR
·ƒ& ·ƒ)
3U
2(
&DOLEUD]LRQH VRQGD HYDSRUDWRUH
·ƒ& ·ƒ)
3U
3U
2
&DOLEUD]LRQH VRQGD DXVLOLDULD
·ƒ& ·ƒ)
3U
3U
33
3UHVHQ]D VRQGD Q · \
\
3U
3U
33
3UHVHQ]D VRQGD Q · \
Q
3U
3U
+(6
,QFUHPHQWR
·ƒ& ·ƒ)
3U
3U
GL
WHPS
'XUDQWH
LO
IXQ] QRWWXUQR (QHUJ\ 6DYLQJ
,1*5(66, ',*,7$/,
,3
3RODULWj LQJUHVVR (QHUJ\ VDYLQJ
&/·23
&/
3U
3U
,3
3RODULWj LQJUHVVR FRQILJXUDELOH
&/·23
&/
3U
3U
L)
&RQILJXUD]LRQH
($/ E$/ 3$/ G)U $86
($/
3U
3U
· PLQ
3U
3U
EE · EE
EE
3U
3U
LQJUHVVR
GLJLWDOH
FRQILJXUDELOH
G,G
5LWDUGR
(6 2Q)
LQJUHVVR
GLJLWDOH
SHU
DOODUPH FRQILJXUDELOH
EEF
7LSR GL WDVWLHUD R WDVWL
25$ ( *,251, )(67,9,
&E3
3UHVHQ]D VFKHGD RURORJLR
Q · \
Q
3U
3U
+XU
2UD FRUUHQWH
· 3U
3U
0LQ
0LQXWL FRUUHQWL
· 3U
3U
G$<
*LRUQR VHWWLPDQDOH FRUUHQWH
6XQ · 6$W
6XQ
3U
3U
+G
3ULPR JLRUQR VHWWLPDQDOH IHVWLYR
6XQ · 6$W ± QX
QX
3U
3U
+G
6HFRQGR JLRUQR VHWW IHVWLYR
6XQ · 6$W ± QX
QX
3U
3U
+G
7HU]R JLRUQR VHWW IHVWLYR
6XQ · 6$W ± QX
QX
3U
3U
(QHUJ\
· K PLQ
3U
3U
G/(
'XUDWD FLFOR (QHUJ\ 6DYLQJ IHULDOH
· K PLQ
3U
3U
,6(
2UDULR
(QHUJ\
· K PLQ
3U
3U
6DYLQJ
· K PLQ
3U
3U
·ƒ& ·ƒ)
3U
3U
25$5, ', (1(5*< 6$9,1*
,/(
2UDULR
GL
LQL]LR
FLFOR
6DYLQJ IHULDOH
GL
LQL]LR
FLFOR
6DYLQJ IHVWLYR
G6(
'XUDWD
FLFOR
(QHUJ\
IHVWLYR
+(6
,QFUHPHQWR
GL
WHPSHUDWXUD
GXUDQWH FLFOR GL (QHUJ\ 6DYLQJ
25$5, ', 6%5,1$0(172
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
QX
3U
3U
/G
2UDULR GL LQL]LR ƒ VEU IHULDOH
· K PLQ QX
QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
3U
3U
6G
2UDULR GL LQL]LR ƒ VEU IHVWLYR
· K PLQ QX
QX
3U
3U
;0B.
,7$GRF
;0.