Cuisinière
E 6565 CC
7DEOH GHV PDWLqUHV
$ /·$77(17,21 '( /·87,/,6$7(85
$ /·$77(17,21 '( /·,167$//$7(85
$YHUWLVVHPHQWV LPSRUWDQWV &$5$&7(5,67,48(6 7(&+1,48(6 '(6&5,37,21 '( 9275( &8,6,1,(5(
,167$//$7,21 /·,17(5,(85 '8 )285 /( 0,187(85 5(03/$&(0(17 '( /·$0328/(
'·(&/$,5$*( &216(,/6 $9$17 /$ 35(0,(5(
87,/,6$7,21 &200(17 87,/,6(5 /$ 7$%/( '(
&8,6621 &200(17 87,/,6(5 /( )285 /(6 ',))(5(17(6 326,7,216 '(
&8,6621 &216(,/6 '·87,/,6$7,21 /$ 7$%/(
'( &8,6621 &216(,/6 '·87,/,6$7,21 /( )285
*8,'(6 '(6 &8,66216 (175(7,(1 (7 1(772<$*( (1 &$6 '·$120$/,( '(
)21&7,211(0(17 &21',7,216 '( *$5$17,( 6(59,&( $35(69(17( /HV DFFHVVRLUHV GX IRXU /D FXLVVRQ WUDGLWLRQQHOOH /D FXLVVRQ DX PD[L JULO /D FXLVVRQ GHV YLDQGHV /D FXLVVRQ DX WRXUQHEURFKH /D FXLVVRQ SDU O·pOpPHQW FKDXIIDQW LQIpULHXU
&RPPHQW XWLOLVHU YRWUH QRWLFH "
/HV V\PEROHV VXLYDQWV YRXV JXLGHURQW WRXW DX ORQJ GH
O·XWLOLVDWLRQ GH YRWUH QRWLFH ,QVWUXFWLRQV GH VpFXULWp
'HVFULSWLRQ G·RSpUDWLRQV pWDSH SDU pWDSH
&RQVHLOV HW UHFRPPDQGDWLRQV
,QIRUPDWLRQV VXU O·HQYLURQQHPHQW
$YHUWLVVHPHQWV LPSRUWDQWV
&RQVHUYH] FHWWH QRWLFH G·XWLOLVDWLRQ DYHF YRWUH DSSDUHLO 6L O·DSSDUHLO GHYDLW rWUH YHQGX RX FpGp j XQH DXWUH SHUVRQQH
DVVXUH]YRXV TXH OD QRWLFH G·XWLOLVDWLRQ O·DFFRPSDJQH /H QRXYHO XWLOLVDWHXU SRXUUD DORUV rWUH LQIRUPp GX
IRQFWLRQQHPHQW GH FHOXLFL HW GHV DYHUWLVVHPHQWV V·\ UDSSRUWDQW &HV DYHUWLVVHPHQWV RQW pWp UpGLJpV SRXU YRWUH
VpFXULWp HW FHOOH G·DXWUXL
/RUVTXH OH IRXU HVW HQ IRQFWLRQQHPHQW OH
8WLOLVDWLRQ
FRXYHUFOH GRLW rWUH UHOHYp
&HW DSSDUHLO D pWp FRQoX SRXU rWUH XWLOLVp SDU GHV
(WHLJQH] OHV SODTXHV pOHFWULTXHV HW DWWHQGH] TXH
DGXOWHV 9HXLOOH] j FH TXH OHV HQIDQWV Q·\ WRXFKHQW
OH GHVVXV GX SODQ GH FXLVVRQ VRLW UHIURLGL DYDQW GH
SDV HW QH O·XWLOLVHQW SDV FRPPH XQ MRXHW
IHUPHU OH FRXYHUFOH
$ OD UpFHSWLRQ GH O·DSSDUHLO GpEDOOH]OH RX
$YDQW OD SUHPLqUH XWLOLVDWLRQ GH YRWUH DSSDUHLO
IDLWHVOH GpEDOOHU LPPpGLDWHPHQW 9pULILH] VRQ
IDLWHV OH FKDXIIHU XQH IRLV j YLGH $VVXUH]YRXV
DVSHFW JpQpUDO )DLWHV OHV pYHQWXHOOHV UpVHUYHV
DORUV TXH OD SLqFH VRLW VXIILVDPPHQW DpUpH 90&
SDU pFULW VXU OH ERQ GH OLYUDLVRQ GRQW YRXV JDUGHUH]
YHQWLODWLRQ
PpFDQLTXH
FRQWU{OpH
HQ
XQ H[HPSODLUH
IRQFWLRQQHPHQW RX IHQrWUH RXYHUWH
9RWUH DSSDUHLO HVW GHVWLQp j XQ XVDJH GRPHVWLTXH
(Q HQIRXUQDQW RX HQ VRUWDQW YRV SODWV GX IRXU
QRUPDO 1H O·XWLOLVH] SDV j GHV ILQV FRPPHUFLDOHV
SUHQH] OD SUpFDXWLRQ GH QH SDV YRXV DSSURFKHU
RX LQGXVWULHOOHV RX SRXU G·DXWUHV EXWV TXH FHOXL
GHV pOpPHQWV FKDXIIDQWV VXSpULHXUV HW XWLOLVH] GHV
SRXU OHTXHO LO D pWp FRQoX
JDQWV WKHUPLTXHV GH FXLVLQH
1H PRGLILH] SDV RX Q·HVVD\H] SDV GH PRGLILHU OHV
1H SODFH] MDPDLV GH SDSLHU G·DOXPLQLXP
FDUDFWpULVWLTXHV
GH
FHW
DSSDUHLO
&HOD
GLUHFWHPHQW HQ FRQWDFW DYHF OD VROH OD FKDOHXU
UHSUpVHQWHUDLW XQ GDQJHU SRXU YRXV
DFFXPXOpH SRXUUDLW HQWUDvQHU XQH GpWpULRUDWLRQ GH
/D IDoDGH GH YRWUH DSSDUHLO HVW FKDXGH SHQGDQW
O·pPDLO
O·XWLOLVDWLRQ HW OH QHWWR\DJH pORLJQH] OHV MHXQHV
6XU OD SRUWH RXYHUWH GX IRXU HQIDQWV
QH SRVH] SDV GH FKDUJH ORXUGH
3RXU FHW DSSDUHLO QRXV YRXV SURSRVRQV XQ NLW
DVVXUH]YRXV TX·XQ HQIDQW QH SXLVVH QL
SRUWH IURLGH GLVSRQLEOH HQ RSWLRQ DXSUqV GH YRWUH
PRQWHU QL V·DVVHRLU
UHYHQGHXU
YRLU &KDSLWUH ´&DUDFWpULVWLTXHV
WHFKQLTXHVµ
$VVXUH]YRXV TXH OHV HQIDQWV QH PDQLSXOHQW SDV
OHV FRPPDQGHV GH O·DSSDUHLO
(ORLJQH] OHV MHXQHV HQIDQWV GH O·DSSDUHLO SHQGDQW
VRQ IRQFWLRQQHPHQW 9RXV pYLWHUH] DLQVL TX·LOV VH
EUOHQW HQ WRXFKDQW OD VXUIDFH GH OD WDEOH RX HQ
UHQYHUVDQW XQ UpFLSLHQW GH FXLVVRQ
1H WLUH] MDPDLV YRWUH DSSDUHLO SDU OD SRLJQpH GH OD
SRUWH
(QOHYH] WRXV OHV SURGXLWV GV j XQ GpERUGHPHQW
GH OD VXUIDFH GX FRXYHUFOH DYDQW GH O·RXYULU
9HLOOH] j QH ULHQ ODLVVHU VXU OD WDEOH SHQGDQW
O·XWLOLVDWLRQ GHV IR\HUV
WRUFKRQV IHXLOOH
G·DOXPLQLXP
1H VWRFNH] SDV GH SURGXLWV G·HQWUHWLHQ RX GH
SURGXLWV LQIODPPDEOHV GDQV OH WLURLU
3RXU OH ERQ FRXOLVVHPHQW GX WLURLU DVVXUH]YRXV
TX·DXFXQ REMHW QH VH WURXYH VRXV OH WLURLU
1H IDLWHV MDPDLV IRQFWLRQQHU YRWUH WDEOH GH FXLVVRQ
j YLGH VDQV UpFLSLHQW GHVVXV
1·HPSOR\H] MDPDLV OH SODWHDX PXOWLXVDJHV
FRPPH SODW j U{WLU
3RXU pYLWHU G·HQGRPPDJHU OHV FRPPDQGHV GH
YRWUH DSSDUHLO QH ODLVVH] SDV OD SRUWH RXYHUWH
ORUVTX·LO HVW HQ IRQFWLRQQHPHQW RX HQFRUH FKDXG
6L YRXV XWLOLVH] XQ DSSDUHLO pOHFWULTXH j ILO j
SUR[LPLWp GH YRWUH FXLVLQLqUH SDU H[HPSOH XQ
EDWWHXU pOHFWULTXH DVVXUH]YRXV TXH OH ILO GH
FHOXLFL QH ULVTXH SDV GH WRXFKHU XQH VXUIDFH WUqV
FKDXGH TXL VHUDLW VXVFHSWLEOH GH OH IDLUH IRQGUH RX
ELHQ TXH VRQ ILO QH ULVTXH SDV G·rWUH FRLQFp GDQV
OD SRUWH GX IRXU
(Q SOXV GHV DFFHVVRLUHV IRXUQLV DYHF YRWUH
FXLVLQLqUH Q·XWLOLVH] TXH GHV SODWV GHV PRXOHV j
JkWHDX[ UpVLVWDQWV j GH KDXWHV WHPSpUDWXUHV
VXLYH] OHV LQVWUXFWLRQV GHV IDEULFDQWV
$SUqV XWLOLVDWLRQ GH YRWUH FXLVLQLqUH DVVXUH]YRXV
TXH WRXWHV OHV FRPPDQGHV VH WURXYHQW VXU OD
SRVLWLRQ $UUrW
9pULILH] TX·DXFXQ pOpPHQW QH VRLW VRXV WHQVLRQ HW
TXH OHV SDURLV VRLHQW VXIILVDPPHQW UHIURLGLHV
DYDQW GH SURFpGHU DX QHWWR\DJH GH YRWUH
FXLVLQLqUH
3RXU REWHQLU GH ERQV UpVXOWDWV FXOLQDLUHV HW
G·XWLOLVDWLRQ YHLOOH] j FH TXH YRWUH DSSDUHLO VRLW
WRXMRXUV SURSUH ORUV GH OD FXLVVRQ GH FHUWDLQHV
SUpSDUDWLRQV OHV SURMHFWLRQV JUDLVVHXVHV SHXYHQW
GpJDJHU GHV RGHXUV GpVDJUpDEOHV
1·XWLOLVH] MDPDLV G·DSSDUHLOV j YDSHXU RX j KDXWH
SUHVVLRQ SRXU QHWWR\HU OH IRXU H[LJHQFHV UHODWLYHV
j OD VpFXULWp pOHFWULTXH ,QVWDOODWLRQ
6L O·LQVWDOODWLRQ pOHFWULTXH GH YRWUH KDELWDWLRQ
QpFHVVLWH XQH PRGLILFDWLRQ SRXU OH EUDQFKHPHQW
GH YRWUH DSSDUHLO IDLWHV DSSHO j XQ pOHFWULFLHQ
TXDOLILp
'HEUDQFKH] O·DSSDUHLO RX HQOHYH] OH IXVLEOH
FRUUHVSRQGDQW j OD OLJQH GH EUDQFKHPHQW GH OD
FXLVLQLqUH VL OD FXLVLQLqUH SUpVHQWH XQH TXHOFRQTXH
DQRPDOLH
(Q FDV G·DQRPDOLH GH IRQFWLRQQHPHQW UHSRUWH]YRXV
G·DERUG DX FKDSLWUH ´(1 &$6 '·$120$/,( '(
)21&7,211(0(17´ 6L PDOJUp WRXWHV OHV
YpULILFDWLRQV XQH LQWHUYHQWLRQ V·DYqUH QpFHVVDLUH OH
YHQGHXU GH YRWUH DSSDUHLO HVW OH SUHPLHU KDELOLWp j
LQWHUYHQLU $ GpIDXW GpPpQDJHPHQW GH YRWUH SDUW
IHUPHWXUH GX PDJDVLQ R YRXV DYH] HIIHFWXp
O·DFKDW YHXLOOH]
FRQVXOWHU
O·$VVLVWDQFH
&RQVRPPDWHXUV TXL YRXV FRPPXQLTXHUD DORUV
O·DGUHVVH G·XQ 6HUYLFH $SUqV9HQWH ,QGLTXH] OD
UpIpUHQFH FRPPHUFLDOH HW OH QXPpUR GH VpULH GH YRWUH
DSSDUHLO TXL ILJXUHQW VXU OD SODTXH VLJQDOpWLTXH
1·HVVD\H] SDV GH UpSDUHU YRWUH DSSDUHLO YRXVPrPH
FHFL SRXUUDLW rWUH OD FDXVH G·LQFLGHQWV
(Q FDV G·LQWHUYHQWLRQ VXU YRWUH DSSDUHLO H[LJH] GX
6HUYLFH $SUqV9HQWH OHV SLqFHV GH UHFKDQJH
FHUWLILpHV &RQVWUXFWHXU
3URWHFWLRQ GH O·HQYLURQQHPHQW
7RXV OHV PDWpULDX[ PDUTXpV SDU OH V\PEROH
VRQW
UHF\FODEOHV 'pSRVH]OHV GDQV XQH GpFKHWWHULH
SUpYXH j FHW HIIHW UHQVHLJQH]YRXV DXSUqV GHV
VHUYLFHV GH YRWUH FRPPXQH SRXU TX·LOV SXLVVHQW rWUH
UpFXSpUpV HW UHF\FOpV
6L YRXV SURFpGH] j OD PLVH j OD FDVVH GH YRWUH
DSSDUHLO PHWWH] KRUV G·XVDJH FH TXL SRXUUDLW
UHSUpVHQWHU XQ GDQJHU SDU H[HPSOH FRXSH] OH FkEOH
G·DOLPHQWDWLRQ DX UDV GH O·DSSDUHLO
$YDQW G·XWLOLVHU YRWUH DSSDUHLO YHXLOOH]
OLUH WRXWHV OHV LQVWUXFWLRQV HW
FRQVHUYH]OHV SRXU UpIpUHQFHV
XOWpULHXUHV
'(6&5,37,21 '( 9275( &8,6,1,(5(
/H EDQGHDX GH FRPPDQGHV
➀
➁ ➂
➃
➄
➅
➆
➀ &RPPDQGH GX WKHUPRVWDW GH IRXU
➁ &RPPDQGH GX VpOHFWHXU GH IRQFWLRQV GX IRXU
➂ 9R\DQW ´UpJXODWLRQµ IRXU
➃ 0LQXWHXU
➄ 9R\DQW ´PDUFKHµ WDEOH
➅ j ➈ &RPPDQGHV GHV IR\HUV GH WDEOH
/D WDEOH GH FXLVVRQ
3ODTXH VWDQGDUG
3ODTXH VWDQGDUG
N:
N:
3ODTXH j OLPLWHXU
3ODTXH j OLPLWHXU
N:
N:
➇
➈
/·,17(5,(85 '8 )285
➀ *UDGLQV
➁ *ULO
➂ (OpPHQW FKDXIIDQW VXSpULHXU
➃ (FODLUDJH GX IRXU
➄ (OpPHQW FKDXIIDQW LQIpULHXU VLWXp VRXV OD VROH
➅ (QWUDvQHPHQW GH OD EURFKH
➊ j➎
1LYHDX[ GH JUDGLQV
/( 0,187(85
/H PLQXWHXU FRPPDQGH O·DUUrW DXWRPDWLTXH GX
IRXU DSUqV pFRXOHPHQW GX WHPSV DIILFKp HQ GpEXW
GH FXLVVRQ PLQXWHV PD[LPXP &RPPHQW SURFpGHU "
3ODFH] OH VpOHFWHXU GH IRQFWLRQV HW OH WKHUPRVWDW
VXU OHV SRVLWLRQV GpVLUpHV VHORQ OD FXLVVRQ j
HIIHFWXHU
$IILFKH] OH WHPSV QpFHVVDLUH j OD FXLVVRQ HQ
WRXUQDQW OH PLQXWHXU GDQV OH VHQV GHV DLJXLOOHV
G·XQH PRQWUH MXVTX·j OD GXUpH GpVLUpH
$ OD ILQ GH OD FXLVVRQ UHSODFH] OH PLQXWHXU VXU OD
SRVLWLRQ PDQXHOOH HW UDPHQH] OHV FRPPDQGHV
GH IRXU VXU OD SRVLWLRQ $UUrW WKHUPRVWDW VXU
VpOHFWHXU GH IRQFWLRQV VXU 6L YRXV GpVLUH] XWLOLVHU YRWUH IRXU VDQV
O·DLGH GX PLQXWHXU DVVXUH]YRXV TX·LO
VRLW VXU OD SRVLWLRQ PDQXHOOH
HW
326,7,21 0$18(//(
&216(,/6 $9$17 /$ 35(0,(5( 87,/,6$7,21
/D WDEOH GH FXLVVRQ
$YDQW OD SUHPLqUH XWLOLVDWLRQ GHV SODTXHV pOHFWULTXHV
IDLWHVOHV FKDXIIHU PLQXWHV HQ SRVLWLRQ PD[L DILQ
G·pOLPLQHU OHV JUDLVVHV GH SURWHFWLRQ
/H IRXU
3UHPLHU QHWWR\DJH
(QOHYH] OHV DFFHVVRLUHV HW ODYH]OHV j O·HDX
VDYRQQHXVH HQ SUHQDQW VRLQ GH ELHQ OHV ULQFHU HW OHV
HVVX\HU
3UHPLqUH RSpUDWLRQ
$YDQW OD SUHPLqUH XWLOLVDWLRQ GH YRWUH IRXU
IDLWHVOH FKDXIIHU XQH IRLV j YLGH
$VVXUH]YRXV DORUV TXH OD SLqFH VRLW
VXIILVDPPHQW DpUpH 90& YHQWLODWLRQ
PpFDQLTXH FRQWU{OpH HQ IRQFWLRQQHPHQW
RX IHQrWUH RXYHUWH
&RPPHQW SURFpGHU "
/( 6(/(&7(85 '( )21&7,216
/HYH] OH FRXYHUFOH
(QOHYH] WRXV OHV DFFHVVRLUHV GX IRXU
5HWLUH] OHV pWLTXHWWHV SXEOLFLWDLUHV HW OHV
DXWRFROODQWV VDXI OD SODTXH VLJQDOpWLTXH TXL
SRXUUDLHQW VH WURXYHU VXU OD IDoDGH GH YRWUH
DSSDUHLO
$VVXUH]YRXV TXH OH PLQXWHXU VH WURXYH VXU OD
SRVLWLRQ PDQXHOOH 3ODFH] OH VpOHFWHXU GH IRQFWLRQV VXU OD SRVLWLRQ
SXLV OH WKHUPRVWDW VXU &
)DLWHV FKDXIIHU SHQGDQW XQH KHXUH DILQ G·pOLPLQHU
O·RGHXU SURYHQDQW GX FDORULIXJH
/H PRGH OD GXUpH HW OD WHPSpUDWXUH GH FXLVVRQ
LQGLTXpV GDQV OHV JXLGHV GH FXLVVRQV VRQW DGDSWpV j
YRWUH QRXYHOOH FXLVLQLqUH 3RXU REWHQLU GH ERQV
UpVXOWDWV FXOLQDLUHV VXLYH] FHV LQGLFDWLRQV
/( 7+(50267$7
&200(17 87,/,6(5 /$ 7$%/( '( &8,6621
3ODTXH UDSLGH j OLPLWHXU SRLQW URXJH SODTXH VWDQGDUG
(OOHV RIIUHQW SRVLWLRQV GH FXLVVRQ
&HV SODTXHV FKDXIIHQW YLWH HW FRQYLHQQHQW
SDUWLFXOLqUHPHQW DX[ FXLVVRQV TXL GHPDQGHQW XQ
GpPDUUDJH j IHX YLI UHSRUWH]YRXV DX FKDSLWUH
´*XLGHV GHV FXLVVRQVµ /H UHSqUH ´µ FRUUHVSRQG j OD SRVLWLRQ DUUrW
/H UHSqUH ´µ FRUUHVSRQG j OD SRVLWLRQ PD[L
3RXU DOOXPHU XQH SODTXH
7RXUQH] OD FRPPDQGH YHUV OD GURLWH RX YHUV OD
JDXFKH
$PHQH] OD PDQHWWH VXU OH UHSqUH FKRLVL OH YR\DQW
´PDUFKHµ V·DOOXPH
3RXU pWHLQGUH XQH SODTXH
5DPHQH] OD FRPPDQGH HQ SRVLWLRQ ´µ
/H YR\DQW ´PDUFKHµ V·pWHLQW VDXI VL XQH DXWUH SODTXH
IRQFWLRQQH
/H YR\DQW ´PDUFKHµ
,O V·DOOXPH GqV TXH YRXV WRXUQH] XQH PDQHWWH GHV
SODTXHV GH WDEOH ,O V·pWHLQW ORUVTXH YRXV OD UDPHQH]
VXU OD SRVLWLRQ ´µ
6pFXULWp
(ORLJQH] OHV MHXQHV HQIDQWV GH O·DSSDUHLO WDQW TX·LO
HVW FKDXG
9HLOOH] j QH SRVHU VXU OD WDEOH GH FXLVVRQ DXFXQ
REMHW RX DOLPHQW VXVFHSWLEOH GH IRQGUH XVWHQVLOHV
DYHF PDQFKH HQ SODVWLTXH IHXLOOH G·DOXPLQLXP
DOLPHQW FRQWHQDQW GX VXFUH HWF HQ FDV
G·LQFLGHQW QHWWR\H] LPPpGLDWHPHQW
$YDQW GH IHUPHU OH FRXYHUFOH DWWHQGH] TXH OH
GHVVXV GX SODQ GH FXLVVRQ VRLW UHIURLGL DILQ GH QH
SDV HQGRPPDJHU OH FRXYHUFOH
&200(17 87,/,6(5 /( )285
/RUVTXH OH IRXU HVW HQ IRQFWLRQQHPHQW OH FRXYHUFOH GRLW rWUH UHOHYp
/HV FRPPDQGHV GH IRXU
/H FKRL[ GX PRGH GH FXLVVRQ V·HIIHFWXH j O·DLGH GX
VpOHFWHXU GH IRQFWLRQV GX IRXU HW GX WKHUPRVWDW
/H VpOHFWHXU GH IRQFWLRQV
3RXU VpOHFWLRQQHU OH PRGH GH FXLVVRQ GpVLUp OD
FRPPDQGH GX VpOHFWHXU GH IRQFWLRQV SHXW rWUH
WRXUQpH YHUV OD GURLWH RX YHUV OD JDXFKH
/·pFODLUDJH GX IRXU
/D FXLVVRQ WUDGLWLRQQHOOH
/D FXLVVRQ DX PD[L JULO
/D FXLVVRQ GHV YLDQGHV
/D FXLVVRQ DX WRXUQHEURFKH
/D FXLVVRQ SDU O·pOpPHQW
/( 6(/(&7(85 '( )21&7,216
FKDXIIDQW LQIpULHXU
3RXU PHWWUH OH IRXU HQ IRQFWLRQQHPHQW FKRLVLU OD
SRVLWLRQ GX VpOHFWHXU GH IRQFWLRQV SXLV OD WHPSpUDWXUH
DSSURSULpH j O·DLGH GX WKHUPRVWDW
3RXU DUUrWHU OH IRXU UDPHQHU OH WKHUPRVWDW VXU
OH VpOHFWHXU GH IRQFWLRQV VXU SXLV
/·pFODLUDJH IRQFWLRQQH GqV TXH OD FRPPDQGH GX
VpOHFWHXU GH IRQFWLRQV HVW WRXUQpH /H IRXU UHVWH
pFODLUp SHQGDQW TXH OD FXLVVRQ V·HIIHFWXH
/H WKHUPRVWDW
/( 7+(50267$7
/H UpJODJH GH OD WHPSpUDWXUH V·HIIHFWXH j O·DLGH GX
WKHUPRVWDW HQ WRXUQDQW OD FRPPDQGH GDQV OH VHQV GHV
DLJXLOOHV G·XQH PRQWUH /D WHPSpUDWXUH SHXW YDULHU GH
& j & /H WKHUPRVWDW UpJXOH OD WHPSpUDWXUH GX
IRXU
/H YR\DQW UpJXODWLRQ
/H YR\DQW V·DOOXPH SHQGDQW OH SUpFKDXIIDJH GX IRXU HW
V·pWHLQW ORUVTXH OD WHPSpUDWXUH VpOHFWLRQQpH HVW
DWWHLQWH ,O VH UDOOXPH ORUV GH OD FXLVVRQ SRXU LQGLTXHU
TXH OD WHPSpUDWXUH GH FXLVVRQ VpOHFWLRQQpH HVW
PDLQWHQXH
$SUqV
XWLOLVDWLRQ
GH
YRWUH
IRXU
DVVXUH]YRXV TXH OHV FRPPDQGHV VH
WURXYHQW VXU OD SRVLWLRQ $UUrW WKHUPRVWDW
VXU HW VpOHFWHXU GH IRQFWLRQV VXU /HV DFFHVVRLUHV GX IRXU
(Q SOXV GHV DFFHVVRLUHV IRXUQLV DYHF YRWUH
FXLVLQLqUH QRXV YRXV FRQVHLOORQV GH
Q·XWLOLVHU TXH GHV SODWV HW GHV PRXOHV j
JkWHDX[
UpVLVWDQW
j
GH
KDXWHV
WHPSpUDWXUHV VXLYH] OHV LQVWUXFWLRQV GHV
IDEULFDQWV /D JULOOH VXSSRUW GH SODW
9RWUH FXLVLQLqUH HVW pTXLSpH GH
JULOOH VXSSRUW
SODWHDX PXOWLXVDJHV
WRXUQHEURFKH
'pKDQFKHPHQW YHUV OH KDXW
/D JULOOH VXSSRUW GH SODW
(OOH SHUPHW GH SRVHU OHV SODWV U{WLV JUDWLQV OHV
PRXOHV j SkWLVVHULH HWF 9RWUH SODW GRLW rWUH FHQWUp VXU
OD JULOOH
9RXV SRXYH] O·XWLOLVHU GDQV OHV VHQV GH
GpKDQFKHPHQW SRXU DMXVWHU OD SRVLWLRQ GH YRV SODWV SDU
UDSSRUW j OD VRXUFH GH FKDOHXU
3RXU OHV SUpSDUDWLRQV WUqV ORXUGHV SOXV GH NJ SRVLWLRQQH] OD JULOOH VXSSRUW GH SODW GpKDQFKHPHQW
YHUV OH KDXW
/H SODWHDX PXOWLXVDJHV
'pKDQFKHPHQW YHUV OH EDV
/H SODWHDX PXOWLXVDJHV
3ODQ LQFOLQp
YHUV O·DYDQW
,O HVW HPSOR\p SRXU OD FXLVVRQ RX OH UpFKDXIIDJH GH
SL]]DV GH SHWLWV JkWHDX[ LQGLYLGXHOV SRVpV
GLUHFWHPHQW GHVVXV
2Q O·XWLOLVH DXVVL SRXU UHFXHLOOLU OH MXV GHV JULOODGHV RX
GHV FXLVVRQV DX WRXUQHEURFKH
1RXV YRXV UHFRPPDQGRQV GH JOLVVHU OH SODWHDX GDQV
OHV JUDGLQV OHV SHWLWV WURXV FLUFXODLUHV YHUV O·DUULqUH
IRQG GX IRXU HW OH SODQ LQFOLQp YHUV O·DYDQW F{Wp SRUWH
GH IRXU 3UHQH] OD SUpFDXWLRQ GH FHQWUHU OH SODWHDX
PXOWLXVDJHV GDQV OH IRXU SRXU SHUPHWWUH XQH
ERQQH FLUFXODWLRQ G·DLU HW REWHQLU XQH FXLVVRQ
KRPRJqQH
3HWLWV WURXV
FLUFXODLUHV
YHUV O·DUULqUH
/H WRXUQHEURFKH
)RXUFKHWWHV
/H WRXUQHEURFKH
,O HVW FRPSRVp GH
EURFKH
IRXUFKHWWHV
VXSSRUW GH EURFKH
%URFKH
6XSSRUW GH EURFKH
/(6 ',))(5(17(6 326,7,216 '( &8,6621
/D FXLVVRQ WUDGLWLRQQHOOH
(OOH FRQYLHQW j WRXWHV OHV FXLVVRQV WRXW VSpFLDOHPHQW
GH SkWLVVHULHV GH SRLVVRQV GH WHUULQHV HW GH
SUpSDUDWLRQV j EDVH GH OpJXPHV (OOH SHXW FRQYHQLU
pJDOHPHQW j OD GpFRQJpODWLRQ GH FHUWDLQV SODWV
FXLVLQpV HW DX UpFKDXIIDJH GH YRV SODWV SUpSDUpV j
O·DYDQFH
/D FXLVVRQ DX PD[L JULO
(OOH SHUPHW GH JULOOHU OHV SLqFHV GH YLDQGHV GH GRUHU
OHV WRDVWV RX GH JUDWLQHU GHV SODWV GpMj FXLWV HW FKDXGV
/D FXLVVRQ GHV YLDQGHV
(OOH HVW VSpFLDOHPHQW DGDSWpH j OD FXLVVRQ GH U{WLV HW
GH YRODLOOHV GDQV XQ SODW
/D FXLVVRQ DX WRXUQHEURFKH
(OOH SHUPHW GH FXLUH OHV SRXOHWV OHV U{WLV j OD EURFKH
/D FXLVVRQ SDU O·pOpPHQW FKDXIIDQW
LQIpULHXU
(OOH FRQYLHQW SDUWLFXOLqUHPHQW SRXU OD FXLVVRQ GHV
SL]]DV IODQV HW TXLFKHV ORUUDLQHV
/D FXLVVRQ WUDGLWLRQQHOOH
(OOH FRQYLHQW j WRXWHV OHV FXLVVRQV WRXW VSpFLDOHPHQW
GH SkWLVVHULHV GH SRLVVRQV GH WHUULQHV HW GH
SUpSDUDWLRQV j EDVH GH OpJXPHV
/H SUpFKDXIIDJH GX IRXU HVW QpFHVVDLUH
&RPPHQW SURFpGHU "
3RXU OHV SkWLVVHULHV OHV JUDWLQV OHV WHUULQHV 3UpFKDXIIH] OH IRXU HQ SODoDQW OH VpOHFWHXU GH
HW OH
IRQFWLRQV VXU OD SRVLWLRQ GH FXLVVRQ
WKHUPRVWDW VXU OH UHSqUH GH FXLVVRQ FKRLVL
&RQVXOWH] OH JXLGH GHV FXLVVRQV
'XUpH GH SUpFKDXIIDJH
PLQXWHV HQYLURQ SRXU DWWHLQGUH &
PLQXWHV HQYLURQ SRXU DWWHLQGUH &
(QIRXUQH] YRWUH SODW
´UpJXODWLRQµ HVW pWHLQW
GqV
TXH
OH
YR\DQW
/D GpFRQJpODWLRQ HWRX OH UpFKDXIIDJH
/D SRVLWLRQ FXLVVRQ WUDGLWLRQQHOOH SHXW FRQYHQLU
pJDOHPHQW j OD GpFRQJpODWLRQ GH FHUWDLQV SODWV HWRX
DX UpFKDXIIDJH GH YRV SODWV SUpSDUpV j O·DYDQFH
'DQV FH FDV SODFH] OH WKHUPRVWDW VXU OD JUDGXDWLRQ
PLQLPXP
(QVXLWH HQIRXUQH] OD SUpSDUDWLRQ GLUHFWHPHQW VDQV
SUpFKDXIIDJH
/D FXLVVRQ DX PD[L JULO
/·XWLOLVDWLRQ GX JULO VH IDLW SRUWH IHUPpH
SRXU pFRQRPLVHU GH O·pQHUJLH pYLWHU WRXW
GpJDJHPHQW G·RGHXUV HW GH IXPpHV HW SRXU
QH SDV HQGRPPDJHU OHV FRPPDQGHV GH
O·DSSDUHLO
7RXWHV OHV FXLVVRQV DX JULO GRLYHQW rWUH IDLWHV
VRXV YRWUH VXUYHLOODQFH
&H PRGH GH FXLVVRQ SHUPHW GH JULOOHU GHV SLqFHV GH
YLDQGH F{WHV GH SRUF VDXFLVVHV TXL UHVWHQW
PRHOOHXVHV GH GRUHU OHV WRDVWV RX GH JUDWLQHU GHV
SODWV GpMj FXLWV HW FKDXGV GH SUpIpUHQFH JUDWLQV GH
SkWHV &RPPHQW SURFpGHU "
/HV JULOODGHV
3UpSDUH] OD SLqFH j JULOOHU
3ODFH]OD GLUHFWHPHQW VXU OD JULOOH VXSSRUW GH SODW
SXLV OH
3ODFH] OH VpOHFWHXU GH IRQFWLRQV VXU
WKHUPRVWDW VXU OH UHSqUH GH FXLVVRQ FKRLVL VDQV
GpSDVVHU OHV YDOHXUV SUpFRQLVpHV GDQV OH JXLGH
GHV FXLVVRQV
/RUVTXH OH JULO HVW URXJH *OLVVH] OH SODWHDX PXOWLXVDJHV DX JUDGLQ ➀
*OLVVH] OD JULOOH DX JUDGLQ ➂ RX ➃ VXLYDQW
O·pSDLVVHXU GH OD SLqFH j JULOOHU
/RUVTXH OD SUHPLqUH IDFH HVW GRUpH UHWRXUQH] OD
SLqFH VDQV OD SLTXHU SRXU pYLWHU GH OXL IDLUH SHUGUH
VRQ MXV
)DLWHV JULOOHU OD GHX[LqPH IDFH
6DOH] HQ ILQ GH FXLVVRQ
/H WHPSV GH FXLVVRQ GRLW rWUH GpWHUPLQp HQ IRQFWLRQ GH
O·pSDLVVHXU GH OD SLqFH j JULOOHU HW QRQ GH VRQ SRLGV
/HV JUDWLQV
3RVLWLRQQH] OH VpOHFWHXU GH IRQFWLRQV VXU
SXLV
OH WKHUPRVWDW VXU OH UHSqUH GH FXLVVRQ FKRLVL VDQV
GpSDVVHU OHV YDOHXUV SUpFRQLVpHV GDQV OH JXLGH
GHV FXLVVRQV
3ODFH] OH SODW VXU OD JULOOH VXSSRUW HW JOLVVH]
O·HQVHPEOH DX JUDGLQ ➂ RX ➃
/DLVVH] OH PHWV H[SRVp TXHOTXHV PLQXWHV DX
UD\RQQHPHQW GX JULO
3OXV OD SUpSDUDWLRQ VHUD SURFKH GH O·pOpPHQW
UD\RQQDQW SOXV OH ´JUDWLQDJHµ VHUD UDSLGH
/D FXLVVRQ GHV YLDQGHV
&HWWH SRVLWLRQ HVW VSpFLDOHPHQW DGDSWpH j OD FXLVVRQ
GHV YLDQGHV
/HV SURMHFWLRQV GH JUDLVVH OH GpJDJHPHQW GH IXPpHV
HW
OHV
RGHXUV
GpVDJUpDEOHV
GLPLQXHQW
FRQVLGpUDEOHPHQW
9RWUH YLDQGH VHUD GRUpH HW PRHOOHXVH YRWUH IRXU
UHVWHUD SURSUH SOXV ORQJWHPSV
&RPPHQW SURFpGHU "
3UpFKDXIIH] OH IRXU HQ SODoDQW OH VpOHFWHXU GH
SXLV OH WKHUPRVWDW VXU
IRQFWLRQV VXU OD SRVLWLRQ
OH UHSqUH GH FXLVVRQ FKRLVL
$ OD SUHPLqUH H[WLQFWLRQ GX YR\DQW ´UpJXODWLRQµ
HQIRXUQH] OD SLqFH j U{WLU SXLV VDQV PRGLILHU OD
SRVLWLRQ GX WKHUPRVWDW SODFH] OH VpOHFWHXU GH
UpVHUYpH j OD FXLVVRQ
IRQFWLRQV VXU OD SRVLWLRQ
GHV YLDQGHV U{WLHV
/D FXLVVRQ DX WRXUQHEURFKH
/D EURFKH HW VRQ VXSSRUW VRQW WUqV FKDXGV
DSUqV OD FXLVVRQ 8WLOLVH] GHV JDQWV
WKHUPLTXHV GH FXLVLQH
&RPPHQW SURFpGHU "
(QILOH] XQH IRXUFKHWWH VXU OD EURFKH SXLV OD SLqFH
j U{WLU HQ YHLOODQW j FH TX·HOOH VRLW ELHQ FHQWUpH
(QILOH] HQVXLWH OD GHX[LqPH IRXUFKHWWH
%ORTXH] OHV IRXUFKHWWHV j O·DLGH GHV YLV
3RVH] OD EURFKH VXU OH VXSSRUW HW JOLVVH]
O·HQVHPEOH DX JUDGLQ ➂
/H WRXUQHEURFKH
3RXVVH] OD EURFKH SRXU HQJDJHU VRQ H[WUpPLWp
GDQV OH FDUUp G·HQWUDvQHPHQW GH OD EURFKH RULILFH
VLWXp DX IRQG GX IRXU j JDXFKH )RXUFKHWWHV
%URFKH
*OLVVH] OH SODWHDX PXOWLXVDJHV DX JUDGLQ ➀
)HUPH] OD SRUWH GX IRXU
6XSSRUW GH EURFKH
3ODFH] OH VpOHFWHXU GH IRQFWLRQV VXU OD SRVLWLRQ
SXLV OH WKHUPRVWDW VXU &
9pULILH] TXH OD EURFKH WRXUQH
3RXU VRUWLU OD SLqFH U{WLH UHPHWWH] OH WKHUPRVWDW
SXLV OH VpOHFWHXU GH IRQFWLRQV VXU OD SRVLWLRQ $UUrW
7LUH] GRXFHPHQW HW VRUWH] VLPXOWDQpPHQW GX IRXU
OH SODWHDX PXOWLXVDJHV O·HQVHPEOH VXSSRUW GH
EURFKH HW OD EURFKH
/D FXLVVRQ SDU O·pOpPHQW FKDXIIDQW
LQIpULHXU
&HWWH SRVLWLRQ HVW VSpFLDOHPHQW DGDSWpH j OD FXLVVRQ
GHV SL]]DV GHV IODQV HW GHV TXLFKHV ORUUDLQHV
/H SUpFKDXIIDJH GX IRXU HVW QpFHVVDLUH
&RPPHQW SURFpGHU "
3UpFKDXIIH] OH IRXU HQ SODoDQW OH VpOHFWHXU GH
SXLV OH WKHUPRVWDW VXU
IRQFWLRQV VXU OD SRVLWLRQ
OH UHSqUH GH FXLVVRQ FKRLVL
(QIRXUQH] YRWUH SODW
´UpJXODWLRQµ HVW pWHLQW
GqV
TXH
OH
YR\DQW
&216(,/6 '·87,/,6$7,21 /$ 7$%/( '( &8,6621
$YDQW GH IHUPHU OH FRXYHUFOH DWWHQGH] TXH
OH GHVVXV GX SODQ GH FXLVVRQ VRLW UHIURLGL
DILQ GH QH SDV HQGRPPDJHU OH FRXYHUFOH
1H IDLWHV SDV FKDXIIHU OD SODTXH j YLGH HW
Q·LQWHUFDOH] DXFXQ SURGXLW RX PDWpULDX HQWUH OD
SODTXH HW OH UpFLSLHQW
&KDTXH IRLV TXH OD UHFHWWH OH SHUPHW FRXYUH]
YRWUH UpFLSLHQW YRXV UpDOLVHUH] GHV pFRQRPLHV
G·pQHUJLH
3HQVH] j UHPHQHU OD PDQHWWH VXU OD SRVLWLRQ DUUrW
DYDQW OD ILQ GH OD FXLVVRQ FHOOHFL WHUPLQHUD JUkFH
j OD FKDOHXU DFFXPXOpH FXLVVRQ GHV SkWHV GX UL]
PLMRWDJH
3RXU SUpYHQLU OHV GpERUGHPHQWV ODLW KXLOH VDXFH
SRVLWLRQQH] OD PDQHWWH VXU XQ UHSqUH PRLQV
pOHYp TXHOTXHV PLQXWHV DYDQW O·pEXOOLWLRQ 1H
UHPSOLVVH] SDV WURS YRV UpFLSLHQWV
/RUVTXH YRXV UpGXLVH] OD SXLVVDQFH GH FXLVVRQ RX
TXH YRXV DUUrWH] OD SODTXH VD WHPSpUDWXUH EDLVVH
OHQWHPHQW
&KRL[ GHV UpFLSLHQWV
&KRLVLVVH] WRXMRXUV XQ UpFLSLHQW SURSRUWLRQQp DX
GLDPqWUH GH OD SODTXH
j FP GH GLDPqWUH SRXU OH IR\HU DYDQW GURLW HW
DUULqUH JDXFKH
j FP GH GLDPqWUH SRXU OH IR\HU DYDQW JDXFKH
HW DUULqUH GURLW
&KRLVLVVH] GHV UpFLSLHQWV j IRQG pSDLV HW ELHQ SODW
IRQG GUHVVp %RQQH XWLOLVDWLRQ
0DXYDLVHV XWLOLVDWLRQV
&216(,/6 '·87,/,6$7,21 /( )285
&KRL[ GHV UpFLSLHQWV
&RQVHLOV SUDWLTXHV
/·pSDLVVHXU OD FRQGXFWLELOLWp HW OD FRXOHXU GHV
UpFLSLHQWV LQIOXHQFHQW OHV UpVXOWDWV FXOLQDLUHV
3HQGDQW OD FXLVVRQ FHUWDLQHV SUpSDUDWLRQV
DXJPHQWHQW GH YROXPH SDU FRQVpTXHQW
FKRLVLVVH] YRV UpFLSLHQWV GH PDQLqUH j FH TXH OD
SUpSDUDWLRQ FUXH ODLVVH OH WLHUV VXSpULHXU GX PRXOH
OLEUH
3RXU SUpYHQLU OHV pFODERXVVXUHV WURS DERQGDQWHV
XWLOLVH] SRXU OD FXLVVRQ GHV U{WLV HW GHV YRODLOOHV
GHV SODWV j ERUGV KDXWV RX GHV FRFRWWHV HQ YHUUH
j IHX PXQLHV GH OHXU FRXYHUFOH GRQW OHV
GLPHQVLRQV VRQW SURSRUWLRQQpHV j OD SLqFH j U{WLU
5pVHUYH] OHV SODWV HQ YHUUH j IHX SRXU YRV JUDWLQV
HW YRV VRXIIOpV
,QIOXHQFH GHV UpFLSLHQWV VXU OHV UpVXOWDWV
GH FXLVVRQ
1H SODFH] MDPDLV OH SDSLHU G·DOXPLQLXP
GLUHFWHPHQW HQ FRQWDFW DYHF OH EDV GH YRWUH
IRXU FHFL HQWUDvQHUDLW XQH GpWpULRUDWLRQ GH
O·pPDLO
3RXU SUpVHUYHU OD SURSUHWp GH YRWUH IRXU XQH IHXLOOH
G·DOXPLQLXP LQWHUFDOpH HQWUH OH SODW HW OD JULOOH
VXSSRUW SURWpJHUD OD VROH HQ FDV GH GpERUGHPHQW
$ILQ GH SHUPHWWUH XQH ERQQH FLUFXODWLRQ G·DLU
FHWWH IHXLOOH QH GRLW SDV FRXYULU OD WRWDOLWp GH OD
VXUIDFH GH OD JULOOH
3LTXH] OD SHDX GHV YRODLOOHV HW VDXFLVVHV j O·DLGH
G·XQH IRXUFKHWWH DYDQW FXLVVRQ 9RXV pYLWHUH] TXH
OD SHDX QH JRQIOH HW Q·pFODWH VRXV O·HIIHW GH OD
FKDOHXU
/DLVVH] OH PRLQV GH EDUGH SRVVLEOH DXWRXU GH YRV
U{WLV SRXU UpGXLUH OHV SURMHFWLRQV HW REWHQLU XQ PHWV
PRLQV ULFKH HQ JUDLVVH
1H GpSDVVH] SDV OHV UHSqUHV GH WKHUPRVWDW
SUpFRQLVpV GDQV OH JXLGH GH FXLVVRQV GHV YLDQGHV
6DFKH] TXH $
O·DOXPLQLXP OHV SODWV HQ WHUUH FXLWH OD WHUUH j
IHX GLPLQXHQW OD FRORUDWLRQ GHVVRXV HW
SUpVHUYHQW O·KXPLGLWp GHV DOLPHQWV 1RXV YRXV
OHV FRQVHLOORQV SRXU OHV SkWLVVHULHV
PRHOOHXVHV OD FXLVVRQ GHV JUDWLQV GHV U{WLV
%
OD IRQWH pPDLOOpH OH IHU pWDPp OH YHUUH HW OD
SRUFHODLQH j IHX OHV UpFLSLHQWV DYHF LQWpULHXU
DQWLDGKpVLI HW H[WpULHXU FRORUp DXJPHQWHQW
OD FRORUDWLRQ GHVVRXV HW IDYRULVHQW OH
GHVVqFKHPHQW GHV DOLPHQWV 1RXV YRXV OHV
FRQVHLOORQV SRXU OHV WDUWHV OHV TXLFKHV HW
WRXWHV FXLVVRQV FURXVWLOODQWHV TXL GRLYHQW rWUH
DXVVL GRUpHV GHVVRXV TXH GHVVXV
9RXV FRQVWDWH]
'HVVRXV WURS SkOH
4XH IDLUH "
3UHQH] XQ PRXOH GX W\SH
%
SDV DVVH] FXLW
RX
RX GHVVXV WURS IRQFp
GHVFHQGH] OH PRXOH G·XQ
QLYHDX
'HVVRXV WURS IRQFp
WURS FXLW
RX GHVVXV WURS FODLU
3UHQH] XQ PRXOH GX W\SH
RX
UHPRQWH] OH PRXOH G·XQ
QLYHDX
$
3RXU UpDOLVHU GHV pFRQRPLHV G·pQHUJLH
3UHQH] O·KDELWXGH G·pWHLQGUH YRWUH IRXU TXHOTXHV
PLQXWHV DYDQW OD ILQ GH OD FXLVVRQ 3HQGDQW FH ODSV
GH WHPSV Q·RXYUH] SDV OD SRUWH OD FXLVVRQ VH
WHUPLQHUD JUkFH j OD FKDOHXU DFFXPXOpH GDQV OH
IRXU
)DLWHV VH VXFFpGHU SOXVLHXUV FXLVVRQV YRXV
pFRQRPLVHUH]
O·pQHUJLH
QpFHVVDLUH
DX
SUpFKDXIIDJH GX IRXU
*8,'(6 '(6 &8,66216
*XLGH GHV FXLVVRQV VXU OHV SODTXHV pOHFWULTXHV
3UpSDUDWLRQV
3ODTXH pOHFWULTXH
0DLQWLHQ DX FKDXG EHXUUH HW FKRFRODW IRQGXV
0LMRWDJH VDXFHV GpOLFDWHV UL] OpJXPHV VHFV
0DLQWLHQ j pEXOOLWLRQ SkWHV SRPPHV GH WHUUH OpJXPHV IUDLV SRWDJHV
&XLVVRQ j OD SRrOH YHDX SRUF RPHOHWWH
&XLVVRQ j OD SRrOH ERHXI FUrSHV
)ULWXUHV
*XLGH GHV FXLVVRQV DX WRXUQHEURFKH HW DX PD[L JULO
7RXWHV OHV FXLVVRQV DX JULO GRLYHQW rWUH IDLWHV SRUWH IHUPpH HW VRXV YRWUH VXUYHLOODQFH
3UpSDUDWLRQV
1LYHDX GH
3UpFKDXIIDJH
&XLVVRQ
FXLVVRQ
JUDGLQ
*5,//$'(6
7HPSV GH
*ULOOH
7KHUPRVWDW
VXSSRUW
&
PLQXWHV
7RXUQHEURFKH SODWHDX PXOWLXVDJHV
*ULOOH VXSSRUW SODWHDX PXOWLXVDJHV
FXLVVRQ
$FFHVVRLUHV
PLQXWHV GH SUpFKDXIIDJH
3RXOHW DX
WRXUQHEURFKH
F{WHV GH SRUF
VDXFLVVHV
PHUJXH]
PRUFHDX[ GH
SRXOHW FXLVVHV
&{WH GH ERHXI
SDU
*ULOOH VXSSRUW SODWHDX PXOWLXVDJHV
*ULOOH VXSSRUW SODWHDX PXOWLXVDJHV
IDFH
*ULOOH VXSSRUW SODWHDX PXOWLXVDJHV
*XLGH GHV FXLVVRQV SDU O·pOpPHQW FKDXIIDQW LQIpULHXU
3UpSDUDWLRQV
1LYHDX GH
3UpFKDXIIDJH
&XLVVRQ
FXLVVRQ
JUDGLQ
7HPSV GH
*ULOOH
7KHUPRVWDW
VXSSRUW
&
PLQXWHV
FXLVVRQ
$FFHVVRLUHV
4XLFKH ORUUDLQH
*ULOOH VXSSRUW WRXUWLqUH
3L]]D
*ULOOH VXSSRUW WRXUWLqUH
)ODQ SkWH EULVpH
*ULOOH VXSSRUW WRXUWLqUH
*ULOOH VXSSRUW WRXUWLqUH
*ULOOH VXSSRUW WRXUWLqUH
*ULOOH VXSSRUW WRXUWLqUH
)ODQ DX[ IUXLWV IUDLV
SkWH EULVpH
)ODQ SkWH
IHXLOOHWpH
)ODQ SkWH
IHXLOOHWpH
/·LPSRUWDQFH GX YROXPH GHV SUpSDUDWLRQV j FXLUH HW OD JUDQGH YDULpWp GHV PDWpULDX[ FRQVWLWXDQW OHV
UpFLSLHQWV GH FXLVVRQ HW OHV PRXOHV j SkWLVVHULH SHXYHQW YRXV DPHQHU j PRGLILHU OHV LQGLFDWLRQV GRQQpHV
GDQV OHV JXLGHV GHV FXLVVRQV 6HXOH YRWUH H[SpULHQFH YRXV SHUPHWWUD GH WURXYHU OH UpJODJH FRQYHQDQW OH
PLHX[ j YRV KDELWXGHV FXOLQDLUHV
7DEOHDX GH FRUUHVSRQGDQFHV DSSUR[LPDWLYHV UHSqUHV GX WKHUPRVWDW WHPSpUDWXUHV
p&
p&
p&
p&
p&
p&
p&
p&
p&
p&
/H SUpFKDXIIDJH GX IRXU HVW QpFHVVDLUH SRXU O·XWLOLVDWLRQ GHV SRVLWLRQV VXLYDQWHV 3RXU OHV FXLVVRQV SRVLWLRQ
PRGH GH SUpFKDXIIDJH
GXUpH PLQXWHV HQYLURQ SRXU DWWHLQGUH &
GXUpH PLQXWHV HQYLURQ SRXU DWWHLQGUH &
3RXU OHV FXLVVRQV SRVLWLRQ
PRGH GH SUpFKDXIIDJH
GXUpH PLQXWHV HQYLURQ SRXU DWWHLQGUH &
3RXU OHV FXLVVRQV SRVLWLRQ
PRGH GH SUpFKDXIIDJH
WHPSV GH SUpFKDXIIDJH VLPLODLUHV DX PRGH
1LYHDX GH
7HPSV GH
*ULOOH
7KHUPRVWDW
VXSSRUW
&
PLQXWHV
5{WL GH ERHXI NJ
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
*LJRW G·DJQHDX
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
5{WL GH SRUF NJ
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
5{WL GH YHDX NJ
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
9RODLOOH NJ
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
3RLVVRQV HQWLHUV
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
3RLVVRQ ILOHWV
*ULOOH VXSSRUW SODW HQ WHUUH j IHX
*UDWLQ GDXSKLQRLV
*ULOOH VXSSRUW SODW HQ YHUUH j IHX
7RPDWHV IDUFLHV
*ULOOH VXSSRUW SODW HQ YHUUH j IHX
/DVDJQHV
*ULOOH VXSSRUW SODW HQ YHUUH j IHX
3UpSDUDWLRQV
3UpFKDXIIDJH
&XLVVRQ
FXLVVRQ
JUDGLQ
0DLQWLHQ DX FKDXG
&KDXIIDJH DVVLHWWHV
FXLVVRQ
$FFHVVRLUHV
9,$1'(6
32,66216
/(*80(6
(175((6
6RXIIOp DX IURPDJH
3kWp HQ WHUULQH
3L]]D
*ULOOH VXSSRUW WRXUWLqUH
4XLFKH ORUUDLQH
*ULOOH VXSSRUW WRXUWLqUH
3ODWHDX PXOWLXVDJHV DYHF SDSLHU
&URWHV IHXLOOHWpHV
VXOIXULVp
*ULOOH VXSSRUW PRXOH j VRXIIOp
7HUULQH DX EDLQPDULH GDQV SODWHDX
PXOWLXVDJHV
1LYHDX GH
7HPSV GH
*ULOOH
7KHUPRVWDW
VXSSRUW
&
PLQXWHV
*ULOOH VXSSRUW PRXOH j PDQTXp
3ODWHDX PXOWLXVDJHV
*ULOOH VXSSRUW PRXOH j EULRFKH
&DNH DX[ UDLVLQV
*ULOOH VXSSRUW
*pQRLVH
*ULOOH VXSSRUW
.RXJORI
*ULOOH VXSSRUW PRXOH HQ WHUUH FXLWH
0HULQJXHV
3kWH j FKRX[
4XDWUHTXDUWV
3UpSDUDWLRQV
3UpFKDXIIDJH
&XLVVRQ
FXLVVRQ
JUDGLQ
FXLVVRQ
$FFHVVRLUHV
3$7,66(5,(6
%LVFXLW GH 6DYRLH
%ULRFKH
6DEOpV
7DUWH DX[ IUXLWV
SkWH EULVpH
7DUWH DX[ IUXLWV
SkWH OHYpH
3ODWHDX PXOWLXVDJHV DYHF SDSLHU
VXOIXULVp
3ODWHDX PXOWLXVDJHV
*ULOOH VXSSRUW PRXOH j PDQTXp
3ODWHDX PXOWLXVDJHV DYHF SDSLHU
*ULOOH VXSSRUW WRXUWLqUH
*ULOOH VXSSRUW WRXUWLqUH
VXOIXULVp
(175(7,(1 (7 1(772<$*(
1HWWR\DJH GH OD WDEOH
$YDQW GH SURFpGHU DX QHWWR\DJH DVVXUH]YRXV TXH
FKDTXH PDQHWWH HVW VXU OD SRVLWLRQ DUUrW HW DWWHQGH]
TXH O·DSSDUHLO VRLW UHIURLGL
$SUqV FKDTXH XWLOLVDWLRQ SDVVH] XQH pSRQJH LPELEpH
G·HDX WLqGH HW GH GpWHUJHQW GRX[ HQ pYLWDQW WRXW
pFRXOHPHQW GDQV OHV RULILFHV GH OD WDEOH 5LQFH] HW
VpFKH] DYHF XQ FKLIIRQ GRX[
(Q FDV GH GpERUGHPHQW PRXLOOH] HW ODLVVH]
GpWUHPSHU PDLV QH JUDWWH] SDV HW Q·XWLOLVH] MDPDLV GH
SURGXLWV DEUDVLIV FH TXL ULVTXHUDLW GH UD\HU HW
G·HQGRPPDJHU OD VXUIDFH pPDLOOpH
1HWWR\DJH GX FRXYHUFOH
1HWWR\H]OH DYHF XQH pSRQJH KXPLGH DGGLWLRQQpH
G·XQ GpWHUJHQW GRX[ ULQFH] HW VpFKH]
3ODTXHV pOHFWULTXHV
9pULILH] TX·DXFXQ pOpPHQW Q·HVW VRXV WHQVLRQ 7RXWHV
OHV FRPPDQGHV GRLYHQW VH WURXYHU VXU OD SRVLWLRQ DUUrW
OHV YR\DQWV HW OD ODPSH GH IRXU pWHLQWV 8WLOLVH] XQH pSRQJH KXPLGH HW XQ GpWHUJHQW ULQFH] HW
VpFKH]
6L QpFHVVDLUH IDLWHV FKDXIIHU OHV SODTXHV
SUpDODEOHPHQW SRXU FDUERQLVHU OHV VDOLVVXUHV
/HV SODTXHV GRLYHQW rWUH PDLQWHQXHV ELHQ VqFKHV
3pULRGLTXHPHQW YRXV SRXYH] OHV HVVX\HU DYHF XQ
SDSLHU DEVRUEDQW OpJqUHPHQW KXLOp
%DQGHDX GH FRPPDQGH HW PDQHWWHV
8WLOLVH] XQH pSRQJH KXPLGH DGGLWLRQQpH G·HDX
VDYRQQHXVH 5LQFH] HW VpFKH] VRLJQHXVHPHQW
3RUWH WLURLU HW F{WpV
8WLOLVH] XQH pSRQJH KXPLGH DGGLWLRQQpH G·XQ
GpWHUJHQW GRX[ 5LQFH] HW VpFKH] VRLJQHXVHPHQW
1·XWLOLVH] HQ DXFXQ FDV GH SURGXLWV DEUDVLIV
1HWWR\DJH GX IRXU
(QWUHWLHQ SpULRGLTXH
/D SRUWH GX IRXU HVW FKDXGH SHQGDQW OH
F\FOH GH QHWWR\DJH pORLJQH] OHV MHXQHV
HQIDQWV
1·XWLOLVH] SDV OHV IR\HUV GH FXLVVRQ GH OD
WDEOH SHQGDQW OH QHWWR\DJH
1RXV YRXV UHFRPPDQGRQV G·XWLOLVHU OH ´NLW
SRUWH IURLGHµ HQ FDV GH SUpVHQFH
pYHQWXHOOH GH MHXQHV HQIDQWV UpIpUHQFH GX
NLW
DX
FKDSLWUH
´&DUDFWpULVWLTXHV
WHFKQLTXHVµ (QWUHWLHQ GH OD VROH SDUWLH LQIpULHXUH
$ILQ GH FDUERQLVHU OHV SURMHFWLRQV JUDLVVHXVHV DSUqV
SOXVLHXUV FXLVVRQV GH YLDQGH YRXV SRXYH] IDLUH
HW
FKDXIIHU OH JULO VHXO VpOHFWHXU GH IRQFWLRQV VXU
WKHUPRVWDW VXU & SHQGDQW PLQXWHV
1RXV YRXV UHFRPPDQGRQV GH QH MDPDLV
XWLOLVHU
GH
SURGXLWV
DEUDVLIV
GH
GpWHUJHQWV G·REMHWV WUDQFKDQWV WHOV TXH
FRXWHDX[ RX JUDWWRLUV TXL UHQGUDLHQW
O·pPDLO GpILQLWLYHPHQW LQHIILFDFH
1HWWR\DJH GHV DFFHVVRLUHV
(QWUHWLHQ UpJXOLHU
5HFRXYHUWH G·pPDLO OLVVH HOOH GRLW rWUH QHWWR\pH DYDQW
OHV RSpUDWLRQV FLGHVVRXV SRXU pYLWHU GH UHFXLUH OHV
VDOLVVXUHV
/DYH]OHV j O·HDX VDYRQQHXVH HQ SUHQDQW ELHQ VRLQ GH
OHV ULQFHU HW GH OHV HVVX\HU
/DYH] OD VROH DYHF XQH pSRQJH HW XQ GpWHUJHQW SRXU
UHWLUHU OHV SURMHFWLRQV JUDVVHV 8QH pSRQJH
OpJqUHPHQW DEUDVLYH SHXW rWUH XWLOLVpH
(QWUHWLHQ SpULRGLTXH
8WLOLVH] GHV SURGXLWV VSpFLDX[ GX FRPPHUFH
/H SURGXLW GpFDSDQW GRLW rWUH YDSRULVp
XQLTXHPHQW VXU OD VROH
1HWWR\DJH FDWDO\WLTXH
3ULQFLSH
/HV SDURLV ODWpUDOHV HW OH IRQG GX IRXU VRQW UHFRXYHUWV
G·XQ pPDLO VSpFLDO SRUHX[ 9RXV OH UHFRQQDvWUH] SDU
VRQ DVSHFW PDW HW UXJXHX[ DX WRXFKHU ,O DEVRUEH HW
GpWUXLW OHV SURMHFWLRQV JUDVVHV VRXV O·DFWLRQ GH OD
FKDOHXU SHQGDQW OD FXLVVRQ
&HSHQGDQW ORUV GH FXLVVRQV SURYRTXDQW EHDXFRXS GH
SURMHFWLRQV JUDVVHV YRODLOOHV JULOODGHV OD GXUpH GH
FXLVVRQ RX OD WHPSpUDWXUH QH VRQW SDV WRXMRXUV
VXIILVDQWHV SRXU pOLPLQHU WRXWHV OHV JUDLVVHV 9RXV
SRXYH] SURFpGHU FRPPH VXLW /HYH] OH FRXYHUFOH
5HWLUH] WRXV OHV DFFHVVRLUHV GX IRXU
WRXUQHEURFKH SODWHDX PXOWLXVDJHV JULOOH
3ODFH] OH VpOHFWHXU GH IRQFWLRQV VXU OD SRVLWLRQ
3ODFH] OH WKHUPRVWDW VXU & SXLV ODLVVH]
FKDXIIHU SHQGDQW PLQXWHV
(QVXLWH SODFH] OH VpOHFWHXU GH IRQFWLRQV VXU OD
SHQGDQW PLQXWHV VL YRXV SDUWH]
SRVLWLRQ
G·XQ IRXU GpMj FKDXG
$ SDUWLU G·XQ IRXU IURLG FRPSWH] PLQXWHV GH
QHWWR\DJH
9RXV UpDOLVHUH] GHV pFRQRPLHV G·pQHUJLH VL
YRXV
HIIHFWXH]
FHV
RSpUDWLRQV
LPPpGLDWHPHQW j OD VXLWH G·XQH FXLVVRQ
YRWUH IRXU pWDQW GpMj FKDXG
(1 &$6 '·$120$/,( '( )21&7,211(0(17
1RXV YRXV UHFRPPDQGRQV YLYHPHQW GH IDLUH OHV YpULILFDWLRQV VXLYDQWHV VXU YRWUH FXLVLQLqUH DYDQW G·DSSHOHU XQ
WHFKQLFLHQ GX 6HUYLFH $SUqV9HQWH ,O VH SHXW TXH OH SUREOqPH VRLW VLPSOH HW TXH YRXV SXLVVLH] OH UpVRXGUH
YRXVPrPH
6ROXWLRQV
6\PSW{PHV
/HV IR\HUV GH WDEOH HW OH IRXU QH IRQFWLRQQHQW SDV
/H IRXU QH FKDXIIH SDV
9pULILH] TXH
OHV IXVLEOHV VRQW HQ ERQ pWDW
O·DSSDUHLO HVW FRUUHFWHPHQW EUDQFKp
TX·LO Q·\ D SDV GH FRXSXUH GH FRXUDQW
9pULILH] TXH
/HV UpVXOWDWV GH FXLVVRQ QH VRQW SDV VDWLVIDLVDQWV
/H IRXU IXPH
OH PLQXWHXU HVW ELHQ VXU OD SRVLWLRQ ´PDQXHOOHµ
9pULILH] TXH
OD SRVLWLRQ GH SUpFKDXIIDJH HVW FRUUHFWH YRLU
FKDSLWUH ´*XLGHV GHV FXLVVRQV
OD GXUpH HW OD WHPSpUDWXUH GH SUpFKDXIIDJH VRQW
FRUUHFWHV
OD SRVLWLRQ GH FXLVVRQ HVW DGDSWpH
OD WHPSpUDWXUH VpOHFWLRQQpH HVW FRUUHFWH
OD GXUpH GH FXLVVRQ HVW DGDSWpH
OD JULOOH RX OH SODWHDX PXOWLXVDJHV HVW ELHQ
SRVLWLRQQp GDQV OH IRXU
OH UpFLSLHQW GH FXLVVRQ HVW ELHQ DGDSWp
9pULILH] TXH
OH IRXU QH QpFHVVLWH SDV GH QHWWR\DJH
OD SUpSDUDWLRQ QH GpERUGH SDV
LO Q·\ D SDV GH SURMHFWLRQV H[FHVVLYHV GH
JUDLVVHMXV VXU OHV SDURLV GX IRXU
OD WHPSpUDWXUH HW OD SRVLWLRQ GH FXLVVRQ
VpOHFWLRQQpHV
VRQW
DGDSWpHV
SOXV
SDUWLFXOLqUHPHQW SRXU OD SRVLWLRQ ´&XLVVRQ GHV
YLDQGHVµ YRLU FKDSLWUH ´*XLGHV GHV FXLVVRQVµ 6L DSUqV DYRLU YpULILp FHV GLIIpUHQWV SRLQWV O·DQRPDOLH SHUVLVWH FRQWDFWH] DORUV OH 6HUYLFH $SUqV9HQWH
&21',7,216 '( *$5$17,(
*DUDQWLH FRQWUDFWXHOOH
3HQGDQW DQ j FRPSWHU GH OD PLVH HQ VHUYLFH OH FRQVWUXFWHXU UHPSODFHUD OHV SLqFHV GpIHFWXHXVHV VDXI GDQV OHV
FDV SUpYXV DX FKDSLWUH µ5pVHUYHVµ
&RQGLWLRQV G·DSSOLFDWLRQ
3RXU XQH DSSOLFDWLRQ GH FHWWH JDUDQWLH YRXV GHYH] YRXV DGUHVVHU DX GLVWULEXWHXU TXL YRXV D YHQGX O·DSSDUHLO HW OXL
SUpVHQWHU OH &HUWLILFDW GH *DUDQWLH (Q FRPSOpPHQW OH 'LVWULEXWHXU 9HQGHXU SRXUUD RX QRQ SUHQGUH j VD FKDUJH OHV
IUDLV GH PDLQ G·±XYUH DLQVL TXH OHV IUDLV GH GpSODFHPHQW HW GH WUDQVSRUW VHORQ OHV FRQGLWLRQV GH YHQWH TX·LO SUDWLTXH
5pVHUYHV
1RXV DWWLURQV YRWUH DWWHQWLRQ VXU OH IDLW TXH FHWWH JDUDQWLH QH SRXUUD rWUH DSSOLTXpH
6L OHV GpWpULRUDWLRQV SURYLHQQHQW G·XQH FDXVH pWUDQJqUH j O·DSSDUHLO FKRFV YDULDWLRQV DQRUPDOHV GH OD WHQVLRQ
pOHFWULTXH HWF RX GX QRQUHVSHFW GHV FRQGLWLRQV G·LQVWDOODWLRQ RX G·XWLOLVDWLRQ LQGLTXpHV GDQV OD QRWLFH
G·XWLOLVDWLRQ IDXVVH PDQRHXYUH QpJOLJHQFH LQVWDOODWLRQ GpIHFWXHXVH RX QRQ FRQIRUPH DX[ UqJOHV HW
SUHVFULSWLRQV LPSRVpHV SDU OHV RUJDQLVPHV GH GLVWULEXWLRQ GH O·(OHFWULFLWp GH O·(DX GX *D] HWF
6L O·XWLOLVDWHXU D DSSRUWp XQH PRGLILFDWLRQ VXU OH PDWpULHO RX HQOHYp OHV PDUTXHV RX QXPpURV GH VpULH
6L XQH UpSDUDWLRQ D pWp HIIHFWXpH SDU XQH SHUVRQQH QRQ DJUppH SDU OH FRQVWUXFWHXU RX OH YHQGHXU
6L O·DSSDUHLO D pWp XWLOLVp j GHV ILQV FRPPHUFLDOHV RX LQGXVWULHOOHV RX SRXU G·DXWUHV EXWV TXH GHV EXWV PpQDJHUV
SRXU OHVTXHOV LO D pWp FRQoX
6L O·DSSDUHLO D pWp DFKHWp RX UpSDUp KRUV GX WHUULWRLUH IUDQoDLV
*DUDQWLH OpJDOH
/HV GLVSRVLWLRQV GH OD JDUDQWLH FRQWUDFWXHOOH QH VRQW SDV H[FOXVLYHV GX EpQpILFH DX SURILW GH O·DFKHWHXU GH OD JDUDQWLH
OpJDOH SRXU GpIDXWV HW YLFHV FDFKpV OD GLWH JDUDQWLH V·DSSOLTXDQW HQ WRXW pWDW GH FDXVH GDQV OHV FRQGLWLRQV GHV DUWLFOHV
HW VXLYDQWV GX &RGH &LYLO
6(59,&( $35(69(17(
(Q FDV G·DQRPDOLH GH IRQFWLRQQHPHQW UHSRUWH]YRXV j OD UXEULTXH ´(1 &$6 '·$120$/,( '( )21&7,211(0(17µ
6L PDOJUp WRXWHV OHV YpULILFDWLRQV XQH LQWHUYHQWLRQ V·DYqUH QpFHVVDLUH OH YHQGHXU GH YRWUH DSSDUHLO HVW OH SUHPLHU KDELOLWp
j LQWHUYHQLU $ GpIDXW GpPpQDJHPHQW GH YRWUH SDUW IHUPHWXUH GX PDJDVLQ R YRXV DYH] HIIHFWXp O·DFKDW YHXLOOH]
FRQVXOWHU O·$VVLVWDQFH &RQVRPPDWHXUV TXL YRXV FRPPXQLTXHUD DORUV O·DGUHVVH G·XQ 6HUYLFH $SUqV9HQWH
(Q FDV G·LQWHUYHQWLRQ VXU YRWUH DSSDUHLO H[LJH] GX 6HUYLFH $SUqV9HQWH OHV 3LqFHV GH 5HFKDQJH FHUWLILpHV &RQVWUXFWHXU
(Q DSSHODQW XQ 6HUYLFH $SUqV9HQWH LQGLTXH]OXL OD UpIpUHQFH FRPPHUFLDOH HW OH QXPpUR GH VpULH GH YRWUH DSSDUHLO
&HV LQGLFDWLRQV ILJXUHQW VXU OD SODTXH VLJQDOpWLTXH GH YRWUH DSSDUHLO
/D SODTXH VLJQDOpWLTXH
(Q DSSHODQW XQ 6HUYLFH $SUqV9HQWH LQGLTXH]OXL OD
UpIpUHQFH FRPPHUFLDOH OH QXPpUR GH SURGXLW HW OH
QXPpUR GH VpULH GH O·DSSDUHLO &HV LQGLFDWLRQV ILJXUHQW
VXU OD SODTXH VLJQDOpWLTXH VLWXpH VXU YRWUH DSSDUHLO
/D SODTXH HVW YLVLEOH VXU OH VRFOH GH O·DSSDUHLO HQ
IDoDGH ORUVTXH OH WLURLU HVW HQOHYp UHSRUWH]YRXV DX
FKDSLWUH ´,167$//$7,21µ /HV LQIRUPDWLRQV LQVFULWHV VXU FHWWH SODTXH YRXV
VHURQW QpFHVVDLUHV HQ FDV GH SDQQH HW SRXU OD
FRPPDQGH GH SLqFHV DX 6HUYLFH $SUqV9HQWH
$ /·$77(17,21 '( /·,167$//$7(85
&RQVLJQHV GH VpFXULWp
&HWWH FXLVLQLqUH HVW XQ DSSDUHLO GX W\SH ; F·HVW j
GLUH TXH OHV PHXEOHV MX[WDSRVpV j O·DSSDUHLO QH
GRLYHQW SDV GpSDVVHU OD KDXWHXU GH FHOOHFL &HWWH
GLVSRVLWLRQ DVVXUH OD SURWHFWLRQ GX PRELOLHU
/HV SDURLV DGMDFHQWHV j OD FXLVLQLqUH GRLYHQW rWUH
VRLW HQ PDWpULDX UpVLVWDQW j OD FKDOHXU VRLW
UHYrWXHV G·XQ WHO PDWpULDX
5DFFRUGHPHQW pOHFWULTXH
/HV FXLVLQLqUHV VRQW OLYUpHV H[FOXVLYHPHQW SRXU
FRXUDQW DOWHUQDWLI +] UHSRUWH]YRXV DX WDEOHDX
Q DX FKDSLWUH ´,QVWDOODWLRQµ ´UDFFRUGHPHQW FkEOH
HW FDOLEUH GHV IXVLEOHVµ 9pULILH] TXH
OD SXLVVDQFH GH O·LQVWDOODWLRQ HVW VXIILVDQWH
OHV OLJQHV G·DOLPHQWDWLRQ VRQW HQ ERQ pWDW
OH GLDPqWUH GHV ILOV HVW FRQIRUPH DX[ UqJOHV
G·LQVWDOODWLRQ
O·LQVWDOODWLRQ IL[H FRPSRUWH XQ GLVSRVLWLI SRVVpGDQW
GHV FRQWDFWV j FRXSXUH RPQLSRODLUH D\DQW XQH
GLVWDQFH G·RXYHUWXUH GHV FRQWDFWV G·DX PRLQV PP
/·LQVWDOODWLRQ HW O·HQWUHWLHQ GRLYHQW rWUH HIIHFWXpV SDU XQ
SURIHVVLRQQHO TXDOLILp FRQIRUPpPHQW DX[ WH[WHV
UpJOHPHQWDLUHV HW UqJOHV GH O·DUW HQ YLJXHXU
QRUPH 1)& LQVWDOODWLRQV pOHFWULTXHV j
EDVVH WHQVLRQ
1RWUH UHVSRQVDELOLWp QH VDXUDLW rWUH HQJDJpH HQ
FDV G·DFFLGHQWV RX G·LQFLGHQWV SURYRTXpV SDU XQH
PLVH j OD WHUUH LQH[LVWDQWH RX GpIHFWXHXVH
&$5$&7(5,67,48(6 7(&+1,48(6
5pIpUHQFH FRPPHUFLDOH
7\SH GH OD FXLVLQLqUH
(&&
5DFFRUGHPHQW pOHFWULTXH
9 +]
&RXYHUFOH GH WDEOH
W{OH
)R\HU DYDQW GURLW
)R\HU DUULqUH GURLW
)R\HU DYDQW JDXFKH
)R\HU DUULqUH JDXFKH
SODTXH j OLPLWHXU N: ® PP
SODTXH VWDQGDUG N: ® PP
SODTXH j OLPLWHXU N: ® PP
SODTXH VWDQGDUG N: ® PP
/H IRXU
)RXU
3XLVVDQFH GX IRXU
*ULO
3XLVVDQFH GX JULO
(FODLUDJH GH IRXU
1HWWR\DJH
pOHFWULTXH
N:
pOHFWULTXH
N:
DPSRXOH : W\SH (
FDWDO\VH
0LQXWHULH SURJUDPPDWLRQ GX
WHPSV
0LQXWHXU
$FFHVVRLUHV
JULOOH VXSSRUW
SODWHDX PXOWLXVDJHV
HQVHPEOH WRXUQHEURFKH
7LURLU GH UDQJHPHQW GHV
DFFHVVRLUHV
'LPHQVLRQV
+DXWHXU FRXYHUFOH IHUPp
+DXWHXU DX SODQ GH FXLVVRQ
/DUJHXU
3URIRQGHXU
3RLGV
/D WDEOH GH FXLVVRQ
2SWLRQV GLVSRQLEOHV DXSUqV GH ´.LW SRUWH IURLGHµ
YRWUH UHYHQGHXU
/H PDUTXDJH
%581 UpIpUHQFH .3)$560
1 %/$1& UpIpUHQFH .3)$56:
1 FRUUHVSRQG j O·DSSOLFDWLRQ GHV GLUHFWLYHV FRPSDWLELOLWp pOHFWURPDJQpWLTXH PDUTXDJH
FP
FP
FP
FP
NJ
HW EDVVH WHQVLRQ ,167$//$7,21
0LVH HQ SODFH GH O·DSSDUHLO
0LVH j QLYHDX
9RWUH FXLVLQLqUH HVW pTXLSpH GH SLHGV UpJODEOHV j
O·DUULqUH SHUPHWWDQW XQH SDUIDLWH PLVH j QLYHDX
3RXU YLVVHU RX GpYLVVHU OHV SLHGV DUULqUHV XWLOLVH] XQH
FOp SODWH Q 'pJDJHPHQW HW UHPRQWDJH GX WLURLU
3RXU FRQVXOWHU OD SODTXH VLJQDOpWLTXH R ILJXUHQW OD
UpIpUHQFH FRPPHUFLDOH HW OH QXPpUR GH VpULH GH YRWUH
FXLVLQLqUH LO YRXV VXIILW GH GpJDJHU OH WLURLU FRPPH
VXLW FRXOLVVH] OH WLURLU YHUV O·DYDQW MXVTX·j O·DJUDIH
´EXWpHµ
j O·DLGH G·XQ WRXUQHYLV ILQ HQOHYH] O·DJUDIH ´EXWpHµ
HQ VRXOHYDQW
HQILQ GpJDJH] OH WLURLU FRPSOqWHPHQW
3RXU UHPRQWHU OH WLURLU SURFpGH] j O·LQYHUVH HQ V·DVVXUDQW TXH OH WLURLU HVW
VXIILVDPPHQW HQJDJp GDQV VHV JOLVVLqUHV SRXU
UHSRVLWLRQQHU O·DJUDIH ´EXWpHµ
5DFFRUGHPHQW pOHFWULTXH
9pULILH] TXH
OD SXLVVDQFH GH O·LQVWDOODWLRQ HVW VXIILVDQWH
OHV OLJQHV G·DOLPHQWDWLRQ VRQW HQ ERQ pWDW
OH GLDPqWUH GHV ILOV HVW FRQIRUPH DX[ UqJOHV
G·LQVWDOODWLRQ HQ YLJXHXU
O·LQVWDOODWLRQ IL[H GH O·XWLOLVDWHXU FRPSRUWH XQ
GLVSRVLWLI j FRXSXUH RPQLSRODLUH D\DQW XQH
GLVWDQFH G·RXYHUWXUH GHV FRQWDFWV G·DX PRLQV
PP
FDOLEUH GH IXVLEOH FRQVXOWH] OH WDEOHDX Q &RPPHQW SURFpGHU "
'pYLVVH] OHV YLV GH OD WUDSSH GH UDFFRUGHPHQW
VLWXpH j O·DUULqUH GH O·DSSDUHLO
UHWLUH] OD WUDSSH GH UDFFRUGHPHQW
GHVVHUUH] OHV YLV GH O·DUUrW GH WUDFWLRQ VLWXp VRXV
OH FDUWHU
LQWURGXLVH] O·H[WUpPLWp GX FkEOH GDQV OH WURX DX
GHVVXV GH O·DUUrW GH WUDFWLRQ
HQVXLWH FRQQHFWH] OH FkEOH j OD EDUUHWWH GH
UDFFRUGHPHQW FRQIRUPpPHQW DX WDEOHDX Q UHVVHUUH] OHV YLV GH O·DUUrW GH WUDFWLRQ
UHPHWWH] OD WUDSSH GH UDFFRUGHPHQW HQJDJH] OHV HUJRWV LQIpULHXUV GH OD WUDSSH j
O·LQWpULHXU GH OD GpFRXSH GX FDUWHU
UHIHUPH] OD WUDSSH SDU OH ERUG VXSpULHXU
HW HQILQ UHPHWWH] OHV YLV
5$&&25'(0(17 &$%/( (7 &$/,%5( '(6 )86,%/(6
WDEOHDX Q 7\SH GH EUDQFKHPHQW
0RQRSKDVp
5DFFRUGHPHQW GX FkEOH
VXU OD SODTXH j ERUQHV
1
2
3
4
7ULSKDVp
1
5
2
3
4
7ULSKDVp < SK 7ULSKDVp 9 SK QHXWUH
QHXWUH
5
1
2
3
4
5
1
230 V
230 V
Mono
N
3~
230V
230V
230V
Y3+N~
230 V
2
3
4
5
230 V
N
230 V
V2+N~
230 V
N
7HQVLRQ DX UpVHDX
9
9
9 9
9 9
7HQVLRQ GH O·DSSDUHLO
9 a
9 a
9 1a
9 1a
7HQVLRQ GHV pOpPHQWV
FKDXIIDQWV
9
9
9
9
[ PP
[ PP
[ PP
[ PP
FkEOH + 51)
FkEOH + 51)
FkEOH + 55)
RX + 51)
FkEOH + 51)
$
$
$
$
&kEOH GH
UDFFRUGHPHQW
)XVLEOH
5(03/$&(0(17 '( /·$0328/( '·(&/$,5$*(
$YDQW GH SURFpGHU DX FKDQJHPHQW GH
O·DPSRXOH GX IRXU YHLOOH] j FH TXH OHV
FRPPDQGHV VRLHQW VXU OD SRVLWLRQ $UUrW
SXLV VpOHFWHXU GH
WKHUPRVWDW VXU
IRQFWLRQV VXU 'pEUDQFKH]
O·DOLPHQWDWLRQ
pOHFWULTXH
GH
O·DSSDUHLO $VVXUH]YRXV DXVVL TXH O·LQWpULHXU GX
IRXU VRLW IURLG
&HWWH DPSRXOH GH : GX W\SH FXORW j YLV (
9 HVW XQH DPSRXOH VSpFLDOH ´FKDOHXUµ
UpVLVWDQW j XQH WHPSpUDWXUH GH & (OOH HVW
GLVSRQLEOH DXSUqV GX 6HUYLFH $SUqV9HQWH GH YRWUH
UHYHQGHXU
/·DPSRXOH HVW VLWXpH DX IRQG GX IRXU HW DFFHVVLEOH SDU
O·LQWpULHXU GX IRXU
3RXU DYRLU DFFqV 'pYLVVH] OH FDSXFKRQ HQ YHUUH SURWpJHDQW
O·DPSRXOH GDQV OH VHQV LQYHUVH GHV DLJXLOOHV G·XQH
PRQWUH
'pYLVVH] O·DPSRXOH
5HPSODFH] O·DPSRXOH
5HVVHUUH] ELHQ OH FDSXFKRQ HQ YHUUH
">
Enlace público actualizado
El enlace público a tu chat ha sido actualizado.