Download Manuel - Pfaff

Transcript
Mode
d’emploi
260c
SMARTER BY PFAFF™ – des machines inspirées et développées par la prestigieuse marque de couture PFAFF®
&HWWH PDFKLQH j FRXGUH j XVDJH GRPHVWLTXH HVW FRQoXH SRXU UpSRQGUH DX[ QRUPHV
,(&(1 HW 8/
&216,*1(6 '( 6e&85,7e ,03257$17(6
/RUV GH O
XWLOLVDWLRQ G
XQ DSSDUHLO pOHFWULTXH OHV SUpFDXWLRQV GH VpFXULWp HVVHQWLHOOHV GRLYHQW WRXMRXUV
rWUH UHVSHFWpHV \ FRPSULV OHV VXLYDQWHV /LVH] DWWHQWLYHPHQW WRXWHV OHV LQVWUXFWLRQV DYDQW G
XWLOLVHU FHWWH PDFKLQH j FRXGUH j XVDJH
GRPHVWLTXH &RQVHUYH] OHV LQVWUXFWLRQV GDQV XQ OLHX DSSURSULp SUqV GH OD PDFKLQH 9HLOOH] j OHV
WUDQVPHWWUH DYHF OD PDFKLQH VL FHOOHFL HVW GRQQpH j XQH DXWUH SHUVRQQH
'$1*(5 ² 3285 5('8,5( /( 5,648( '( '(&+$5*(
(/(&75,48( ‡ 9RXV QH GHYH] MDPDLV ODLVVHU XQH PDFKLQH j FRXGUH VDQV VXUYHLOODQFH ORUVTX
HOOH HVW EUDQFKpH
'pEUDQFKH] WRXMRXUV FHWWH PDFKLQH j FRXGUH GH OD SULVH LPPpGLDWHPHQW DSUqV O
DYRLU XWLOLVpH HW
DYDQW GH OD QHWWR\HU G
HQOHYHU OHV FDSRWV GH OXEULILHU RX ORUVTXH YRXV IDLWHV Q
LPSRUWH TXHOV
DXWUHV UpJODJHV PHQWLRQQpV GDQV OH PDQXHO G
LQVWUXFWLRQ
$9(57,66(0(17 ² 3285 5('8,5( /( 5,648( '( %58/85(6
'
,1&(1',( '( '(&+$5*( (/(&75,48( 28 '( %/(6685(6
&25325(//(6 ‡ 1H ODLVVH] SHUVRQQH MRXHU DYHF OD PDFKLQH ,O HVW IRUWHPHQW UHFRPPDQGp GH UHGRXEOHU G
DWWHQWLRQ
ORUVTXH FHWWH PDFKLQH j FRXGUH HVW XWLOLVpH SDU RX SUqV G
HQIDQWV
‡ 1
XWLOLVH] FHWWH PDFKLQH j FRXGUH TXH SRXU VRQ XVDJH SUpYX FRPPH GpFULW GDQV FH PDQXHO
1
XWLOLVH] TXH OHV DFFHVVRLUHV UHFRPPDQGpV SDU OH IDEULFDQW FRQIRUPpPHQW DX[ LQGLFDWLRQV
IRXUQLHV GDQV FH PDQXHO
‡ 1H IDLWHV MDPDLV IRQFWLRQQHU FHWWH PDFKLQH j FRXGUH VL OD SULVH RX OH FRUGRQ VRQW HQGRPPDJpV VL
HOOH QH IRQFWLRQQH SDV FRUUHFWHPHQW RX VL HOOH HVW WRPEpH SDU WHUUH RX D pWp HQGRPPDJpH RX
SORQJpH GDQV O·HDX 5HWRXUQH] OD PDFKLQH DX GLVWULEXWHXU RX DX FHQWUH WHFKQLTXH OH SOXV SURFKH
GH FKH] YRXV SRXU WRXWH UpYLVLRQ UpSDUDWLRQ RX UpJODJH PpFDQLTXH RX pOHFWULTXH
‡ 1H IDLWHV MDPDLV IRQFWLRQQHU OD PDFKLQH j FRXGUH VL XQH RX SOXVLHXUV RXYHUWXUHV GH YHQWLODWLRQ
VRQW ERXFKpHV eYLWH] WRXWH SUpVHQFH GH SHOXFKH SRXVVLqUHV FKXWHV GH WLVVXV GDQV OD YHQWLODWLRQ
RX GDQV OD SpGDOH GH FRPPDQGH
‡ 1
DSSURFKH] SDV OHV GRLJWV GHV SDUWLHV PRELOHV HQ SDUWLFXOLHU DX QLYHDX GH OD ]RQH VLWXpH DXWRXU
GH O
DLJXLOOH GH OD PDFKLQH
‡ 8WLOLVH] WRXMRXUV OD SODTXH j DLJXLOOH DSSURSULpH /
XWLOLVDWLRQ G
XQH SODTXH LQDSSURSULpH
ULVTXHUDLW GH EULVHU OHV DLJXLOOHV
‡ 1
XWLOLVH] MDPDLV G
DLJXLOOHV WRUGXHV
‡ 1H WLUH] SDV VXU OH WLVVX HW QH OH SRXVVH] SDV SHQGDQW OD FRXWXUH 9RXV pYLWHUH] DLQVL GH IDLUH
GpYLHU O
DLJXLOOH SXLV GH OD FDVVHU
‡ 3RUWH] GHV OXQHWWHV GH VpFXULWp
‡ eWHLJQH] OD PDFKLQH LQWHUUXSWHXU VXU © ª ORUV GHV UpJODJHV DX QLYHDX GH O
DLJXLOOH SDU
H[HPSOH HQILODJH GH O
DLJXLOOH FKDQJHPHQW G
DLJXLOOH ERELQDJH GH OD FDQHWWH FKDQJHPHQW GH
SLHG SUHVVHXU HWF
‡ 1H IDLWHV MDPDLV WRPEHU QL JOLVVHU XQ REMHW GDQV OHV RXYHUWXUHV
‡ 1
XWLOLVH] SDV OD PDFKLQH j O
H[WpULHXU
‡ 1
XWLOLVH] SDV YRWUH PDFKLQH j SUR[LPLWp GH ERPEHV DpURVROV RX GH YDSRULVDWHXUV RX ORUVTXH GH
O
R[\JqQH HVW DGPLQLVWUp
‡ 3RXU GpEUDQFKHU FRPPHQFH] WRXMRXUV SDU pWHLQGUH YRWUH PDFKLQH LQWHUUXSWHXU VXU © ª SXLV
UHWLUH] OD SULVH GX VHFWHXU
‡ 1H GpEUDQFKH] SDV OD PDFKLQH HQ WLUDQW VXU OH FRUGRQ 3RXU GpEUDQFKHU VDLVLVVH] OD SULVH HW QRQ
OH FRUGRQ
‡ /D SpGDOH HVW XWLOLVpH SRXU IDLUH IRQFWLRQQHU OD PDFKLQH eYLWH] GH SODFHU G
DXWUHV REMHWV VXU OD
SpGDOH
‡ 1
XWLOLVH] SDV OD PDFKLQH VL HOOH HVW PRXLOOpH
‡ 6L OH YR\DQW /(' HVW HQGRPPDJp RX FDVVp LO GRLW rWUH UHPSODFp SDU OH IDEULFDQW RX VRQ DJHQW GH
VHUYLFH RX WRXWH DXWUH SHUVRQQH TXDOLILpH DILQ G
pYLWHU OHV ULVTXHV
‡ 6L OH FRUGRQ GH OD SpGDOH HVW HQGRPPDJp LO GRLW rWUH UHPSODFp SDU OH IDEULFDQW RX VRQ DJHQW GH
VHUYLFH RX WRXWH DXWUH SHUVRQQH TXDOLILpH DILQ G
pYLWHU OHV ULVTXHV
‡ &HWWH PDFKLQH HVW pTXLSpH G·XQH GRXEOH LVRODWLRQ 1·XWLOLVH] TXH GHV SLqFHV GpWDFKpHV G·RULJLQH
9RLU OHV LQVWUXFWLRQV UHODWLYHV j O
HQWUHWLHQ GHV DSSDUHLOV j GRXEOH LVRODWLRQ
&216(59(= &(6 ,16758&7,216
3285 /
(8523( 81,48(0(17 &HW DSSDUHLO SHXW rWUH XWLOLVp SDU GHV HQIDQWV GH SOXV GH DQV DLQVL TXH GHV SHUVRQQHV D\DQW GHV
FDSDFLWpV SK\VLTXHV VHQVRULHOOHV RX PHQWDOHV UpGXLWHV RX XQ PDQTXH G
H[SpULHQFH HW GH
FRQQDLVVDQFHV V
LOV VRQW VXSHUYLVpV RX RQW UHoX GHV LQVWUXFWLRQV TXDQW j O
XWLOLVDWLRQ GH O
DSSDUHLO HQ
WRXWH VpFXULWp HW V
LOV FRPSUHQQHQW OHV pYHQWXHOV ULVTXHV HQFRXUXV /HV HQIDQWV QH GRLYHQW SDV MRXHU
DYHF O
DSSDUHLO /H QHWWR\DJH HW O
HQWUHWLHQ j UpDOLVHU SDU O
XWLOLVDWHXU QH GRLYHQW SDV rWUH HIIHFWXpV SDU
GHV HQIDQWV VDQV VXUYHLOODQFH
/H QLYHDX VRQRUH HQ FRQGLWLRQV QRUPDOHV HVW LQIpULHXU j G%$
/D PDFKLQH QH GRLW rWUH XWLOLVpH TX
DYHF XQH SpGDOH GX W\SH & IDEULTXpH SDU =(1* +6,1*
,1'8675,$/ &2 /7'
3285 /(6 3$<6 +256 (8523( &HWWH PDFKLQH j FRXGUH Q
HVW SDV GHVWLQpH j rWUH XWLOLVpH SDU GHV SHUVRQQHV \ FRPSULV GHV HQIDQWV
D\DQW GHV FDSDFLWpV SK\VLTXHV VHQVRULHOOHV RX PHQWDOHV UpGXLWHV RX XQ PDQTXH G
H[SpULHQFH HW GH
FRQQDLVVDQFHV VDXI VL XQH SHUVRQQH UHVSRQVDEOH GH OHXU VpFXULWp OHV VXUYHLOOH RX OHV DLGH j XWLOLVHU OD
PDFKLQH j FRXGUH 1H ODLVVH] SDV OHV HQIDQWV MRXHU DYHF OD PDFKLQH j FRXGUH
/H QLYHDX VRQRUH HQ FRQGLWLRQV QRUPDOHV HVW LQIpULHXU j G%$
/D PDFKLQH QH GRLW rWUH XWLOLVpH TX
DYHF XQH SpGDOH GX W\SH & IDEULTXpH SDU =(1* +6,1*
,1'8675,$/ &2 /7'
(175(7,(1 '(6 352'8,76 e48,3e6 '
81( '28%/(
,62/$7,21
8QH PDFKLQH j GRXEOH LVRODWLRQ HVW pTXLSpH GH GHX[ V\VWqPHV G
LVRODWLRQ DX OLHX G
XQH PLVH j OD
WHUUH $XFXQ EUDQFKHPHQW j OD WHUUH Q
HVW OLYUp DYHF XQ SURGXLW j GRXEOH LVRODWLRQ HW QH GRLW QRQ SOXV
\ rWUH DMRXWp /
HQWUHWLHQ G
XQ SURGXLW j GRXEOH LVRODWLRQ QpFHVVLWH XQH DWWHQWLRQ WRXWH SDUWLFXOLqUH
DLQVL TX
XQH ERQQH FRQQDLVVDQFH WHFKQLTXH HW GRLW REOLJDWRLUHPHQW rWUH HIIHFWXp SDU GX SHUVRQQHO
TXDOLILp /HV SLqFHV GpWDFKpHV G
XQ DSSDUHLO j GRXEOH LVRODWLRQ GRLYHQW rWUH GHV SLqFHV G
RULJLQH /D
PHQWLRQ © '28%/( ,62/$7,21 ª GRLW ILJXUHU VXU WRXW DSSDUHLO pTXLSp G
XQH GRXEOH LVRODWLRQ
7$%/( '(6 0$7,Ë5(6
,QWURGXFWLRQ 7HFKQLTXHV GH FRXWXUH
3UpVHQWDWLRQ GH OD PDFKLQH 3RLQW GURLW UHQIRUFp 3RLQW ]LJ]DJ WURLV SRLQWV 3RLQW GH VXUILODJH 3RLQW RYHUORFN IHUPp 2XUOHW LQYLVLEOH pODVWLTXH &RXWXUH GH SLqFHV HW G
DSSOLTXpV 5HSULVDJH DYHF OH SRLQW ]LJ]DJ WURLV SRLQWV 5pSDUDWLRQ G
DFFURFV &RXWXUH GH ERXWRQV %RXWRQQLqUH VWDQGDUG %RXWRQQLqUH JDQVpH &RXWXUH GH IHUPHWXUHV j JOLVVLqUH 5HFWR 3LqFHV VXSpULHXUHV )DFH DUULqUH $FFHVVRLUHV 3LHGVGHELFKH
9XH G
HQVHPEOH GHV SRLQWV 3RLQWV XWLOLWDLUHV 3RLQWV GH SDWFKZRUN 3RLQWV GpFRUDWLIV 3UpSDUDWLRQV 'pEDOODJH %UDQFKHPHQW GH O
DOLPHQWDWLRQ pOHFWULTXH 5DQJHPHQW GH OD PDFKLQH DSUqV OD
FRXWXUH %UDV OLEUH 0LVH j QLYHDX GX VRFOH OD PDFKLQH &RXSHILO %URFKHV SRUWHERELQH (QILODJH GH OD PDFKLQH (QILOHDLJXLOOH
(QILODJH G
DLJXLOOH GRXEOH %RELQDJH GH FDQHWWH 0LVH HQ SODFH GH OD FDQHWWH 3UHVVLRQ GX SLHGGHELFKH 7HQVLRQ GX ILO $LJXLOOHV &KDQJHPHQW G
DLJXLOOH
$EDLVVHPHQW GHV JULIIHV G
HQWUDvQHPHQW /HYpH GX SLHGGHELFKH &KDQJHPHQW GX SLHGGHELFKH %RXWRQV HW LQGLFDWHXUV GH IRQFWLRQ 0DUFKH DUULqUH 0DUFKHDUUrW /HYLHU GH FRQWU{OH GH YLWHVVH 3RLQW G
DUUrW LPPpGLDWSRLQW G
DUUrW $UUrW GH O
DLJXLOOH HQ KDXWHQ EDV /DUJHXU GH SRLQW RX SRVLWLRQQHPHQW GH
SRLQW /RQJXHXU GH SRLQW %RXWRQ LQIR %RXWRQV GH VpOHFWLRQ GLUHFWH 0HVVDJHV VRQRUHVG
DYHUWLVVHPHQW &RXWXUH 6pOHFWLRQQHU XQ SRLQW 5pJODJHV GH SRLQW
&RPPHQFH] j FRXGUH 3RLQW GURLW &KDQJHU GH VHQV GH FRXWXUH
7HUPLQHU OD FRXWXUH (QWUHWLHQ 1HWWR\DJH GH OD PDFKLQH 5HPLVH HQ SODFH GH OD SODTXH j DLJXLOOH 'pSDQQDJH 6SpFLILFDWLRQ WHFKQLTXH ,QWURGXFWLRQ
3UpVHQWDWLRQ GH OD PDFKLQH
5HFWR
,QWURGXFWLRQ
)HQWHV G
HQILODJH
9LV G
DLJXLOOH
&RXSHILO
*XLGHILO G
DLJXLOOH
9R\DQW /('
%DUUH j SLHGGHELFKH HW VXSSRUW GH SLHGGHELFKH
(QILOHDLJXLOOH LQWpJUp
3LHGGHELFKH
/HYLHU GH ERXWRQQLqUH
&RIIUHWDFFHVVRLUHV
%DUUH j DLJXLOOH
%UDV OLEUH
3ODTXH j DLJXLOOH
/HYLHU GH FRQWU{OH GH YLWHVVH
&RXYHUFOH GH FDQHWWH
%RXWRQV HW DIILFKDJH /('
*XLGH GH ILO LQIpULHXU
9RODQW
/HYpH GX SLHGGHELFKH
3LqFHV VXSpULHXUHV
%RXWRQ GH SUHVVLRQ GX SLHGGH
ELFKH
7URX SRXU EURFKH SRUWHERELQH
UHSOLDEOH
*XLGHILOV
/HYLHU GX ERELQHXU GH FDQHWWH HW
D[H GX ERELQHXU
3RUWHERELQHV
5HOHYHXU GH ILO
)DFH DUULqUH
,QWURGXFWLRQ
,QWHUUXSWHXU SULQFLSDO EUDQFKHPHQWV GX FkEOH
G
DOLPHQWDWLRQ HW GH OD SpGDOH GH FRPPDQGH
3RLJQpH
&RXOLVVH SRXU DEDLVVHU OHV JULIIHV G
HQWUDvQHPHQW
'LVTXHV GH WHQVLRQ GX ILO
'LVTXH GH WHQVLRQ GX ERELQHXU
GH FDQHWWH
%RXWRQ GH WHQVLRQ GX ILO
$FFHVVRLUHV
$FFHVVRLUHV LQFOXV
&DQHWWHV Qž 5RQG GH IHXWULQH
7RXUQHYLV SRXU SODTXH j DLJXLOOH
2XWLO PXOWLXVDJH
3RUWHERELQH JUDQG
3RUWHERELQH SHWLW
'pFRXYLW HW EURVVH XQ pOpPHQW
*XLGH GH ERUGXUHSDWFKZRUN
%URFKH SRUWHERELQH UHSOLDEOH
$FFHVVRLUHV LQFOXV QRQ LOOXVWUpV
‡ 3pGDOH
‡ &RUGRQ G
DOLPHQWDWLRQ
‡ $LJXLOOHV
‡ &DSRW ULJLGH
,QWURGXFWLRQ
3LHGVGHELFKH
3LHGGHELFKH VWDQGDUG LQGLTXp SDU GDQV O
DIILFKDJH /(' MRLQW j OD PDFKLQH j OD OLYUDLVRQ
&H SLHG HVW SULQFLSDOHPHQW XWLOLVp SRXU OD FRXWXUH GH SRLQWV GURLWV HW GH SRLQWV ]LJ]DJ DYHF
XQH ORQJXHXU GH SRLQW VXSpULHXUH j PP
3LHG SRLQW IDQWDLVLH $
LQGLTXp SDU $ GDQV O
DIILFKDJH /('
8WLOLVH] FH SLHG SRXU FRXGUH GHV SRLQWV GpFRUDWLIV GHV SRLQWV ]LJ]DJ FRXUWV HW G
DXWUHV
SRLQWV XWLOLWDLUHV GH PRLQV GH PP GH ORQJXHXU /D UDLQXUH VLWXpH VRXV OH SLHG HVW FRQoXH
SRXU SDVVHU VDQV jFRXSV DXGHVVXV GHV SRLQWV
3LHG SRXU RXUOHW LQYLVLEOH LQGLTXp SDU GDQV O
DIILFKDJH /('
&H SLHG V
XWLOLVH SRXU OHV SRLQWV G
RXUOHW LQYLVLEOH /
HUJRW VXU OH SLHG JXLGH OH WLVVX /H JXLGH
URXJH VXU OH SLHG HVW FRQoX SRXU VXLYUH OH ERUG GX SOL GH O
RXUOHW
5HPDUTXH FKRLVLVVH] WRXMRXUV XQH ODUJHXU GH SRLQW G
DX PRLQV PP ORUVTXH YRXV XWLOLVH] OH SLHG
SRXU RXUOHW LQYLVLEOH 6L YRXV VpOHFWLRQQH] XQH ODUJHXU GH SRLQW DXWUH TXH FHOOH UHFRPPDQGpH
GpSODFH] O
DLJXLOOH j O
DLGH GX YRODQW SRXU YRXV DVVXUHU TX
HOOH QH KHXUWHUD SDV OD SRLQWH PpWDOOLTXH GX
SLHG
3LHG SRXU IHUPHWXUH j JOLVVLqUH &H SLHG SHXW rWUH SRVp j GURLWH RX j JDXFKH GH O
DLJXLOOH SRXU FRXGUH IDFLOHPHQW SUqV GX
ERUG GHV GHQWV GH OD IHUPHWXUH GHV GHX[ F{WpV 'pSODFH] OD SRVLWLRQ G
DLJXLOOH j GURLWH RX j
JDXFKH SRXU FRXGUH SOXV SUqV GHV GHQWV GH OD IHUPHWXUH
3LHG SRXU ERXWRQQLqUH pWDSH %
LQGLTXp SDU % GDQV O
DIILFKDJH /('
&H SLHG GLVSRVH G
XQ HVSDFH j O
DUULqUH R SODFHU XQ ERXWRQ SRXU GpILQLU OD WDLOOH GH OD
ERXWRQQLqUH /D PDFKLQH FRXGUD XQH ERXWRQQLqUH TXL FRUUHVSRQG j FHWWH WDLOOH GH ERXWRQ
9XH G
HQVHPEOH GHV SRLQWV
3RLQWV XWLOLWDLUHV
,QWURGXFWLRQ
3RLQW
1RP
'HVFULSWLRQ
3RLQW GURLW
3RXU DVVHPEOHU HW VXUSLTXHU 6pOHFWLRQQH] j SDUWLU GH O
XQH
GHV SRVLWLRQV G
DLJXLOOH
3RLQW ]LJ]DJ
&RXWXUHV UHQIRUFpHV ILQLWLRQ QHWWH FRXWXUH H[WHQVLEOH
LQVHUWLRQ GH GHQWHOOH
2YHUORFN
IHUPp
&RXWXUH HW VXUILODJH HQ XQH pWDSH SLqFHV RXUOHWV
3RLQW WULFRW
H[WHQVLEOH
&RXWXUH VXU WLVVXV H[WHQVLEOHV
3RLQW ]LJ]DJ
WURLV SRLQWV
&RXWXUH G
pODVWLTXHV UHSULVDJH FRXWXUH GH SLqFHV
3RLQW GH
VXUILODJH
&RXWXUH HW VXUILODJH GH WLVVXV H[WHQVLEOHV HQ XQH pWDSH DYHF
ERUG UHQIRUFp
3RLQW GURLW
UHQIRUFp
&RXWXUH UHQIRUFpH 6XUSLT€UH
3RLQW ]LJ]DJ
H[WHQVLEOH
WULSOH
3RLQW pODVWLTXH SRXU RXUOHWV GpFRUDWLIV RX VXUSLT€UH
3RLQW GH EDVH
pODVWLTXH
3RLQW G
DVVHPEODJH SRXU VRXVYrWHPHQW WLVVX ERXFOp FXLU
WLVVXV HQFRPEUDQWV DYHF FKHYDXFKHPHQW GHV FRXWXUHV
3RLQW GH
SDWFKZRUN
LPLWDWLRQ IDLW
PDLQ
/
DSSDUHQFH GX SDWFKZRUN IDLW PDLQ HVW REWHQXH j O
DLGH GX
ILO G
DLJXLOOH PRQRILODPHQW HW HQ DXJPHQWDQW OD WHQVLRQ GX ILO
3RLQW G
RXUOHW
LQYLVLEOH
pODVWLTXH
&RXWXUH G
RXUOHWV LQYLVLEOHV VXU WLVVXV H[WHQVLEOHV HW WLVVpV
%
%RXWRQQLqUH
VWDQGDUG
%RXWRQQLqUH GH EDVH
1ƒ
3LHG
GH
ELFKH
7HQVLRQ
GX ILO
3RLQWV GH SDWFKZRUN
3RLQW
1RP
'HVFULSWLRQ
3RLQW
G
DLJXLOOH
%RUG GpFRUDWLI
$
3RLQW GH
SDWFKZRUN
/H SRLQW GH SDWFKZRUN HVW REWHQX j O
DLGH GX ILO G
DLJXLOOH
PRQRILODPHQW HW HQ DXJPHQWDQW OD WHQVLRQ GX ILO
$
3RLQW GH
SDWFKZRUN
DQWLTXH
3RLQW GH SDWFKZRUN GpFRUDWLI
$
3RLQW GH
SDWFKZRUN
RQGXOp
3DWFKZRUN RX GpFRUDWLRQ
$
3RLQW GH
SDWFKZRUN
DQWLTXH
3RLQW GH SDWFKZRUN GpFRUDWLI
$
3RLQW FUD]\
SDWFK
3DWFKZRUN RX SRLQW GH GpFRUDWLRQ DX SRLQW FUD]\ SDWFK
1RP
'HVFULSWLRQ
1ƒ
3LHG
GH
ELFKH
7HQVLRQ
GX ILO
$
3RLQWV GpFRUDWLIV
1ƒ
3LHG
GH
ELFKH
7HQVLRQ
GX ILO
$
3RLQW ]LJ]DJ
PXOWLSOH
$SSOLTXpV FRXFKpV ±LOOHWV
$
3RLQW
IDQWDLVLH
3RLQW GpFRUDWLI
$
3RLQWV G
DUW
3RLQW GpFRUDWLI
$
3RLQW GH ERUG
GH IHVWRQ
%RUG RX GpFRXSH GpFRUDWLIV
$
3RLQW GH
EURGHULH
DQWLTXH
3RLQW GpFRUDWLI DYHF O
DSSDUHQFH G
XQH EURGHULH j OD PDLQ
$
3RLQW GH
FURL[
3RLQW GH FURL[ GpFRUDWLI
$
3RLQWV G
DUW
3RLQW GpFRUDWLI
$
3RLQW HQ
F±XU
3RLQW GpFRUDWLI
$
3RLQW HQ
IHXLOOHV
3RLQW GpFRUDWLI
,QWURGXFWLRQ
3RLQW
3UpSDUDWLRQV
'pEDOODJH
3ODFH] OD ERvWH VXU XQH VXUIDFH SODWH HW ULJLGH 6RUWH]
OD PDFKLQH GH OD ERvWH UHWLUH] O
HPEDOODJH H[WHUQH HW
VRUWH] OD PDOOHWWH GH OD PDFKLQH
5HWLUH] WRXV OHV PDWpULDX[ G
HPEDOODJH H[WHUQHV HW OH
VDF HQ SODVWLTXH
5HPDUTXH 9RWUH 60$57(5 %< 3)$))ΠF PDFKLQH HVW
UpJOpH SRXU YRXV GRQQHU OH PHLOOHXU ILQL GH SRLQW j XQH
WHPSpUDWXUH DPELDQWH QRUPDOH /HV WHPSpUDWXUHV
H[WUrPHPHQW pOHYpHV RX EDVVHV SHXYHQW DIIHFWHU OHV UpVXOWDWV GH
FRXWXUH
%UDQFKHPHQW GH O
DOLPHQWDWLRQ
pOHFWULTXH
3DUPL OHV DFFHVVRLUHV YRXV WURXYHUH] OH FRUGRQ
G
DOLPHQWDWLRQ HW OD SpGDOH GH FRPPDQGH
3UpSDUDWLRQV
5HPDUTXH &RQVXOWH] XQ pOHFWULFLHQ TXDOLILp HQ FDV GH GRXWH
VXU OD PDQLqUH GH EUDQFKHU OD PDFKLQH VXU OD VRXUFH
G
DOLPHQWDWLRQ 'pEUDQFKH] OH FRUGRQ G
DOLPHQWDWLRQ ORUVTXH
OD PDFKLQH Q
HVW SDV XWLOLVpH
3RXU FHWWH PDFKLQH j FRXGUH OH PRGqOH GH SpGDOH GH
FRPPDQGH & IDEULTXp SDU =(1* +6,1*
,1'8675,$/ &2 /7' GRLW rWUH XWLOLVp
%UDQFKH] OH FRUGRQ GH OD SpGDOH GH FRPPDQGH GDQV
OD SULVH HQ EDV j GURLWH GH OD PDFKLQH $
/D YLWHVVH GH FRXWXUH VH FRQWU{OH HQ DSSX\DQW VXU OD
SpGDOH
%UDQFKH] OH FRUGRQ G
DOLPHQWDWLRQ GDQV OD SULVH
DUULqUH HQ EDV j GURLWH GH OD PDFKLQH % %UDQFKH] OH
FRUGRQ GDQV OD SULVH PXUDOH
3ODFH] O
LQWHUUXSWHXU 212)) VXU 21 SRXU DOOXPHU
O
DOLPHQWDWLRQ HW O
pFODLUDJH &
3RXU OHV eWDWV8QLV HW OH &DQDGD
&HWWH PDFKLQH j FRXGUH HVW pTXLSpH G
XQH SULVH
SRODULVpH j VHQV XQLTXH XQH ILFKH HVW SOXV ODUJH TXH
O
DXWUH $ILQ GH UpGXLUH OH ULVTXH G
pOHFWURFXWLRQ FHWWH
ILFKH HVW GHVWLQpH j rWUH EUDQFKpH GDQV XQH SULVH
SRODULVpH j VHQV XQLTXH 6L OHV ILFKHV QH UHQWUHQW SDV
WRWDOHPHQW GDQV OD SULVH UHWRXUQH]OHV 6L OD SULVH QH
UHQWUH WRXMRXUV SDV FRQWDFWH] XQ pOHFWULFLHQ TXDOLILp
SRXU TX
LO LQVWDOOH XQH SULVH DGpTXDWH 7RXWH
PRGLILFDWLRQ GH OD SULVH HVW j SURVFULUH
5DQJHPHQW GH OD PDFKLQH DSUqV OD
FRXWXUH
eWHLJQH] O
LQWHUUXSWHXU SULQFLSDO
5HPDUTXH $SUqV O
DYRLU GpEUDQFKp LO SHXW UHVWHU GX FRXUDQW
UpVLGXHO GDQV OD PDFKLQH &HWWH SRXU FHWWH UDLVRQ TXH OD
OXPLqUH SHXW UHVWHU DOOXPHU TXHOTXHV VHFRQGHV SHQGDQW TXH OH
FRXUDQW VH GLVVLSH ,O V
DJLW G
XQ FRPSRUWHPHQW QRUPDO SRXU
XQ DSSDUHLO pFRpQHUJpWLTXH
'pEUDQFKH] OH FRUGRQ GH OD SULVH PXUDOH SXLV GH OD
PDFKLQH
'pEUDQFKH] OH FRUGRQ GH SpGDOH GH OD PDFKLQH
(QURXOH] OH FRUGRQ DXWRXU GH OD SpGDOH SRXU IDFLOLWHU
VRQ UDQJHPHQW
3ODFH] WRXV OHV DFFHVVRLUHV GDQV OH FRIIUHW j
DFFHVVRLUHV 5pLQWURGXLVH] OH FRIIUHW VXU OD PDFKLQH
DXWRXU GX EUDV OLEUH
3ODFH] OD SpGDOH GDQV O
HVSDFH VLWXp DXGHVVXV GX
EUDV OLEUH
0HWWH] OH FDSRW ULJLGH
%UDV OLEUH
0LVH j QLYHDX GX VRFOH OD PDFKLQH
3RXU YHLOOHU j FH TXH YRWUH PDFKLQH UHSRVH IHUPHPHQW
VXU YRWUH VXUIDFH GH FRXWXUH YRXV SRXYH] UpJOHU OD
KDXWHXU GX VRFOH 7RXUQH] OH VRFOH HQ UpJODQW OD YLV $ j
OD PDLQ 7RXUQH] GDQV OH VHQV GHV DLJXLOOHV G
XQH PRQWUH
SRXU DEDLVVHU OH VRFOH HW GDQV OH VHQV LQYHUVH SRXU
O
pOHYHU
&RXSHILO
3RXU XWLOLVHU OH FRXSHILO WLUH] OH ILO GH O
DUULqUH YHUV
O
DYDQW FRPPH LQGLTXp %
3UpSDUDWLRQV
3RXU XWLOLVHU OH EUDV OLEUH YRXV GHYH] UHWLUHU OH FRIIUHW j
DFFHVVRLUHV /RUVTX
LO HVW HQ SODFH XQ FURFKHW PDLQWLHQW
OH FRIIUHW j DFFHVVRLUHV IHUPHPHQW DWWDFKp j OD PDFKLQH
5HWLUH] OH FRIIUHW HQ OH IDLVDQW JOLVVHU YHUV OD JDXFKH
%URFKHV SRUWHERELQH
9RWUH PDFKLQH HVW pTXLSpH GH GHX[ EURFKHV SRUWH
ERELQH XQH EURFKH SULQFLSDOH HW XQH EURFKH UHSOLDEOH
/HV EURFKHV SRUWHERELQH VRQW FRQoXHV SRXU WRXV OHV
W\SHV GH ILOV /D EURFKH SRUWHERELQH SULQFLSDOH V
XWLOLVH
HQ SRVLWLRQ KRUL]RQWDOH OH ILO VH GpURXOH GH OD ERELQH HW
OD EURFKH SRUWHERELQH UHSOLDEOH HQ SRVLWLRQ YHUWLFDOH OD
ERELQH GH ILO WRXUQH 8WLOLVH] OD SRVLWLRQ KRUL]RQWDOH
SRXU OHV ILOV QRUPDX[ HW OD SRVLWLRQ YHUWLFDOH SRXU OHV
JUDQGHV ERELQHV RX OHV ILOV VSpFLDX[
%URFKH SRUWHERELQH SULQFLSDOH
3ODFH] XQ SRUWHERELQH HW OD ERELQH GH ILO VXU OD EURFKH
SRUWHERELQH $VVXUH]YRXV TXH OH ILO VH GpURXOH GDQV OH
VHQV LQYHUVH GHV DLJXLOOHV G
XQH PRQWUH HW JOLVVH VXU XQ
GHX[LqPH SRUWHERELQH
5HPDUTXH 7RXWHV OHV ERELQHV GH ILO QH VRQW SDV IDEULTXpHV GH
OD PrPH IDoRQ (Q FDV GH SUREOqPH DYHF OH ILO WRXUQH] OD
ERELQH DILQ TXH OH ILO VH GpURXOH GDQV OD GLUHFWLRQ RSSRVpH RX
SODFH] OH ILO GDQV OD SRVLWLRQ YHUWLFDOH
3UpSDUDWLRQV
8WLOLVH] XQ SRUWHERELQH XQ SHX SOXV JUDQG TXH OD
ERELQH GH ILO 3RXU OHV ERELQHV GH ILO pWURLWHV XWLOLVH] XQ
SRUWHERELQH SOXV SHWLW GHYDQW OD ERELQH 3RXU OHV
JUDQGHV ERELQHV GH ILO XWLOLVH] XQ SRUWHERELQH SOXV
JUDQG GHYDQW OD ERELQH
%RELQH GH ILO pWURLWH
/H F{Wp SODW GX SRUWHERELQH GRLW rWUH DSSX\p
IHUPHPHQW FRQWUH OD ERELQH ,O QH GRLW SDV \ DYRLU
G
HVSDFH HQWUH OH SRUWHERELQH HW OD ERELQH GH ILO
%RELQH GH ILO ODUJH
%URFKH SRUWHERELQH UHSOLDEOH
/D EURFKH SRUWHERELQH UHSOLDEOH V
HPSORLH SRXU ERELQHU
XQH FDQHWWH j SDUWLU G
XQH VHFRQGH ERELQH GH ILO RX SRXU
XQH GHX[LqPH ERELQH TXDQG YRXV FRXVH] DYHF XQH
DLJXLOOH GRXEOH
,QVpUH] OD EURFKH SRUWHERELQH DX[LOLDLUH GDQV OH WURX HQ
KDXW GH OD PDFKLQH $ )DLWHV JOLVVHU XQ JUDQG SRUWH
ERELQH HW SODFH] XQ URQG GH IHXWULQH VRXV OD ERELQH GH
ILO &HFL VHUW j HPSrFKHU OH ILO GH VH GpURXOHU WURS YLWH
1H SODFH] SDV GH SRUWHERELQH DXGHVVXV GH OD EURFKH
SRUWHERELQH FDU FHFL HPSrFKHUDLW OD ERELQH GH WRXUQHU
%URFKH SRUWHERELQH UHSOLDEOH
(QILODJH GH OD PDFKLQH
$VVXUH]YRXV TXH OH SLHGGHELFKH HVW UHOHYp HW TXH
O
DLJXLOOH HVW GDQV VD SRVLWLRQ OD SOXV KDXWH
3ODFH] XQH ERELQH GH ILO VXU OD EURFKH SRUWHERELQH HW
SRVH] OH SRUWHERELQH GH WDLOOH DSSURSULpH
3DVVH] OH ILO GDQV OH JXLGHILO $ GH O
DYDQW YHUV
O
DUULqUH HW GDQV OH JXLGHILO % GH O
DUULqUH YHUV
O
DYDQW 7LUH] OH ILO HQWUH OHV GLVTXHV GH WHQVLRQ &
)DLWHV GHVFHQGUH OH ILO GDQV OD IHQWH G
HQILODJH GH
GURLWH SXLV IDLWHVOH UHPRQWHU GDQV OD IHQWH
G
HQILODJH GH JDXFKH
$PHQH] OH ILO GH OD GURLWH MXVTXH GDQV OH UHOHYHXU GH
ILO ' HW IDLWHVOH GHVFHQGUH GDQV OD IHQWH G
HQILODJH
GH JDXFKH SXLV GDQV OH JXLGHILO LQIpULHXU ( HW YHUV
OH JXLGHILO G
DLJXLOOH )
(QILOH] O
DLJXLOOH
3UpSDUDWLRQV
(QILOHDLJXLOOH
/
HQILOHDLJXLOOH YRXV SHUPHW G
HQILOHU O
DLJXLOOH
DXWRPDWLTXHPHQW /
DLJXLOOH GRLW rWUH GDQV VD SRVLWLRQ OD
SOXV KDXWH SRXU SRXYRLU XWLOLVHU O
HQILOHDLJXLOOH LQWpJUp
$SSX\H] VXU OH ERXWRQ G
DLJXLOOH KDXWEDV SRXU YRXV
DVVXUHU TXH O
DLJXLOOH HVW FRPSOqWHPHQW UHOHYpH
1RXV YRXV UHFRPPDQGRQV pJDOHPHQW G
DEDLVVHU OH SLHG
GHELFKH
8WLOLVH] OD SRLJQpH $ SRXU WLUHU O
HQILOHDLJXLOOH
MXVTX
HQ EDV 'HV EULGHV PpWDOOLTXHV HQYHORSSHQW
O
DLJXLOOH HW XQ SHWLW FURFKHW SDVVHUD j WUDYHUV OH FKDV
GH O
DLJXLOOH
3ODFH] OH ILO GH O
DUULqUH VXU OH JXLGHILO % HW VRXV OH
SHWLW FURFKHW &
/DLVVH] O
HQILOHDLJXLOOH EDVFXOHU GRXFHPHQW YHUV
O
DUULqUH /H FURFKHW WLUH OH ILO j WUDYHUV OH FKDV GH
O
DLJXLOOH HW IRUPH XQH ERXFOH GHUULqUH O
DLJXLOOH 7LUH]
OD ERXFOH GX ILO YHUV O
H[WpULHXU GHUULqUH O
DLJXLOOH
/HYH] OH SLHGGHELFKH HW SODFH] OH ILO HQ GHVVRXV
3UpSDUDWLRQV
5HPDUTXH /
HQILOHDLJXLOOH HVW FRQoX SRXU rWUH XWLOLVp DYHF
GHV DLJXLOOHV GH WDLOOH 9RXV QH SRXYH] SDV XWLOLVHU
O
HQILOHDLJXLOOH SRXU OHV DLJXLOOHV GH WDLOOH RX PRLQV QL
DYHF OHV DLJXLOOHV ODQFpROpHV RX GRXEOHV
&HUWDLQV DFFHVVRLUHV HQ RSWLRQ H[LJHQW XQ HQILODJH PDQXHO GH
O
DLJXLOOH
/RUVTXH YRXV HQILOH] O
DLJXLOOH PDQXHOOHPHQW DVVXUH]YRXV
TXH O
DLJXLOOH HVW HQILOpH GH O
DYDQW YHUV O
DUULqUH
(QILODJH G
DLJXLOOH GRXEOH
5HPSODFH] O
DLJXLOOH KDELWXHOOH SDU XQH DLJXLOOH GRXEOH
$VVXUH]YRXV TXH OH SLHGGHELFKH HVW UHOHYp HW TXH
O
DLJXLOOH HVW GDQV VD SRVLWLRQ OD SOXV KDXWH
3ODFH] XQH ERELQH GH ILO VXU OD EURFKH SRUWHERELQH HW
SRVH] OH SRUWHERELQH GH WDLOOH DSSURSULpH ,QVpUH] OD
EURFKH SRUWHERELQH UHSOLDEOH ,QVpUH] XQ JUDQG
SRUWHERELQH HW XQ URQG GH IHXWULQH 3ODFH] OD
GHX[LqPH ERELQH GH ILO VXU OD EURFKH SRUWHERELQH
DX[LOLDLUH
3DVVH] OHV ILOV GDQV OH JXLGHILO $ GH O
DYDQW YHUV
O
DUULqUH HW GDQV OH JXLGHILO % GH O
DUULqUH YHUV
O
DYDQW 7LUH] OHV GHX[ ILOV HQWUH OHV GLVTXHV GH
WHQVLRQ &
)DLWHV GHVFHQGUH OH ILO GDQV OD IHQWH G
HQILODJH GH
GURLWH SXLV IDLWHVOH UHPRQWHU GDQV OD IHQWH
G
HQILODJH GH JDXFKH
$PHQH] OHV ILOV GH OD GURLWH MXVTXH GDQV OH UHOHYHXU
GH ILO ' HW IDLWHVOHV GHVFHQGUH GDQV OD IHQWH
G
HQILODJH GH JDXFKH 3ODFH] OHV ILOV GDQV OH JXLGHILO
LQIpULHXU ( 3ODFH] XQ ILO GDQV OD IHQWH GX F{Wp
JDXFKH GX JXLGHILO G
DLJXLOOH ) HW O
DXWUH ILO GDQV OD
IHQWH GX F{Wp GURLW GX JXLGHILO G
DLJXLOOH *
$VVXUH]YRXV TXH OHV ILOV QH V
HPPrOHQW SDV
(QILOH] OHV DLJXLOOHV PDQXHOOHPHQW
3UpSDUDWLRQV
5HPDUTXH ,O SHXW rWUH QpFHVVDLUH GH UpGXLUH OD ODUJHXU GX
SRLQW SRXU pYLWHU G
HQGRPPDJHU O
DLJXLOOH GRXEOH OD SODTXH j
DLJXLOOH RX OH SLHGGHELFKH /H UpJODJH YDULHUD HQ IRQFWLRQ GH
OD ODUJHXU GX SRLQW SDU GpIDXW HWRX GH OD WDLOOH GH O
DLJXLOOH
GRXEOH
5HPDUTXH /
pSDLVVHXU HW O
LUUpJXODULWp GHV ILOV VSpFLDX[ WHOV
TXH OHV ILOV PpWDOOLTXHV SHXYHQW DXJPHQWHU OD WHQVLRQ VXU OH
ILO 5pGXLUH OD WHQVLRQ HPSrFKHUD OD UXSWXUH GH O
DLJXLOOH
%RELQDJH GH FDQHWWH
3ODFH] OD ERELQH GH ILO VXU OD EURFKH SRUWHERELQH
3RXVVH] IHUPHPHQW XQ SRUWHERELQH FRQWUH OD
ERELQH
3ODFH] OH ILO GDQV OH JXLGHILO $ GH O
DYDQW YHUV
O
DUULqUH )DLWHV SDVVHU OH ILO GDQV OH VHQV GHV DLJXLOOHV
G
XQH PRQWUH DXWRXU GX GLVTXH GH WHQVLRQ GX
ERELQHXU GH FDQHWWH %
3UpSDUDWLRQV
,QVpUH]OH GDQV OH WURX GH OD FDQHWWH & GH O
LQWpULHXU
YHUV O
H[WpULHXU
3ODFH] OD FDQHWWH VXU O
D[H GX ERELQHXU
3RXVVH] O
D[H GX ERELQHXU YHUV OD GURLWH SRXU DFWLYHU
OH ERELQDJH GH FDQHWWH /HV OHWWUHV © 63 ª FOLJQRWHQW
VXU O
DIILFKDJH /('
$SSX\H] VXU OD SpGDOH SRXU ERELQHU OD FDQHWWH 8QH
IRLV OH ERELQDJH FRPPHQFp FRXSH] OH VXUSOXV GH ILO
4XDQG OD FDQHWWH HVW SOHLQH OH ERELQDJH UDOHQWLW
5HWLUH] YRWUH SLHG GH OD SpGDOH HW SRXVVH] O
D[H GX
ERELQHXU YHUV OD JDXFKH 5HWLUH] OD FDQHWWH HW FRXSH]
OH ILO
0LVH HQ SODFH GH OD FDQHWWH
9HLOOH] j FH TXH O
DLJXLOOH VRLW FRPSOqWHPHQW UHOHYpH HW
TXH OD PDFKLQH VRLW pWHLQWH DYDQW G
LQVpUHU RX G
HQOHYHU
OD FDQHWWH
2XYUH] OH FRXYHUFOH GH FDQHWWH HQ SRXVVDQW OH
ERXWRQ GH GpYHUURXLOODJH YHUV OD GURLWH $ 5HWLUH]
OH FRXYHUFOH %
,QVpUH] OD FDQHWWH GDQV OH FRPSDUWLPHQW GH FDQHWWH
GH VRUWH TXH OH ILO VH GpURXOH GDQV OH VHQV LQYHUVH GHV
DLJXLOOHV G
XQH PRQWUH
7LUH] OH ILO HQWUH j WUDYHUV OD IHQWH & $YHF XQ GRLJW
SRVp GpOLFDWHPHQW VXU OH KDXW GH OD FDQHWWH WLUH] OH ILO
VXU OHV IOqFKHV GH UHSpUDJH GDQV OH JXLGHILO GH OD
SODTXH j DLJXLOOH GH & YHUV ' 7LUH] OH ILO DX
QLYHDX GHV IOqFKHV GDQV OH JXLGHILO GH OD SODTXH j
DLJXLOOH GH ' j (
3RXU FRXSHU OH ILO HQ WURS WLUH] OH ILO YHUV O
DUULqUH VXU
OD ODPH DX QLYHDX (
5HPHWWH] OH FRXYHUFOH GH FDQHWWH HQ SODFH
3UHVVLRQ GX SLHGGHELFKH
3UpSDUDWLRQV
/D SUHVVLRQ GX SLHGGHELFKH D pWp SUpUpJOpH VXU OD
YDOHXU VWDQGDUG © ª 'DQV OD SOXSDUW GHV FDV YRXV
Q
DYH] SDV EHVRLQ GH UpJOHU OD SUHVVLRQ GX SLHGGHELFKH
3RXU OHV WHFKQLTXHV VSpFLDOHV RX ORUVTXH YRXV FRXVH]
VXU GX WLVVX WUqV ILQ RX WUqV pSDLV XQ UpDMXVWHPHQW GH OD
SUHVVLRQ SHXW DPpOLRUHU OH UpVXOWDW
3RXU OHV WLVVXV WUqV ILQV UHOkFKH] OD SUHVVLRQ HQ WRXUQDQW
OH ERXWRQ GDQV OH VHQV LQYHUVH GHV DLJXLOOHV G
XQH
PRQWUH
5HPDUTXH 6L OH ERXWRQ HVW WURS WRXUQp GDQV OH VHQV LQYHUVH
GHV DLJXLOOHV G
XQH PRQWUH LO SHXW VH GpWDFKHU 6L FHFL VH
SURGXLW LO VXIILW GH UHPHWWUH OH ERXWRQ HW GH OH WRXUQHU GDQV OH
VHQV GHV DLJXLOOHV G
XQH PRQWUH MXVTX
j FH TX
LO UHVWH HQ SODFH
3RXU OHV WLVVXV pSDLV DXJPHQWH] OD SUHVVLRQ HQ WRXUQDQW
OH ERXWRQ GDQV OH VHQV GHV DLJXLOOHV G
XQH PRQWUH
5HPDUTXH VL OH ERXWRQ HVW WRXUQp GDQV OH VHQV KRUDLUH
MXVTX
j FH TX
LO V
DUUrWH F
HVW TX
LO D DWWHLQW OD SUHVVLRQ
PD[LPXP GLVSRQLEOH 1
HVVD\H] SDV GH WRXUQHU OH ERXWRQ
GDYDQWDJH 7HQVLRQ GX ILO
3RXU UpJOHU OD WHQVLRQ GX ILO WRXUQH] OH ERXWRQ GH
WHQVLRQ GH ILO FRPPH LOOXVWUp (Q IRQFWLRQ GX WLVVX GX
PROOHWRQ GX ILO HWF LO SHXW rWUH QpFHVVDLUH GH GHYRLU
DMXVWHU OD WHQVLRQ
9RLU 9XH G
HQVHPEOH GHV SRLQWV SDJH SRXU OHV
UHFRPPDQGDWLRQV GH WHQVLRQ GH ILO SRXU WRXV OHV SRLQWV
3RXU OD PHLOOHXUH DSSDUHQFH HW GXUDELOLWp GH SRLQW
YHLOOH] j FH TXH OD WHQVLRQ G
DLJXLOOH VRLW FRUUHFWHPHQW
UpJOpH 3RXU OD FRXWXUH JpQpUDOH OHV ILOV VH UHMRLJQHQW GH
PDQLqUH UpJXOLqUH HQWUH OHV GHX[ FRXFKHV GH WLVVX
7HQVLRQ DGpTXDWH
6L OH ILO GH FDQHWWH HVW YLVLEOH VXU OH GHVVXV GX WLVVX OD
WHQVLRQ GX ILO G
DLJXLOOH HVW WURS pOHYpH 5pGXLVH] OD
WHQVLRQ GX ILO G
DLJXLOOH
7HQVLRQ WURS pOHYpH
6L OH ILO VXSpULHXU HVW YLVLEOH VRXV OH WLVVX OD WHQVLRQ GX
ILO G
DLJXLOOH HVW WURS IDLEOH $XJPHQWH] OD WHQVLRQ GX ILO
G
DLJXLOOH
3UpSDUDWLRQV
3RXU OHV SRLQWV GpFRUDWLIV HW OHV ERXWRQQLqUHV OH ILO
VXSpULHXU GRLW rWUH YLVLEOH VXU O
HQYHUV GX WLVVX
)DLWHV TXHOTXHV HVVDLV VXU GHV FKXWHV GX WLVVX TXH YRXV
DOOH] XWLOLVHU HW YpULILH] OD WHQVLRQ
7HQVLRQ WURS IDLEOH
$LJXLOOHV
/
DLJXLOOH GH OD PDFKLQH j FRXGUH MRXH XQ U{OH LPSRUWDQW
GDQV XQH FRXWXUH UpXVVLH 8WLOLVH] XQLTXHPHQW GHV
DLJXLOOHV GH TXDOLWp
1RXV UHFRPPDQGRQV OHV DLJXLOOHV GX V\VWqPH +
/H MHX G
DLJXLOOHV LQFOXV DYHF YRWUH PDFKLQH FRQWLHQW GHV
DLJXLOOHV GHV WDLOOHV OHV SOXV IUpTXHPPHQW XWLOLVpHV
$LJXLOOH XQLYHUVHOOH
/HV DLJXLOOHV XQLYHUVHOOHV RQW XQH SRLQWH OpJqUHPHQW
DUURQGLH HW H[LVWHQW GDQV GH QRPEUHXVHV WDLOOHV 3RXU OD
FRXWXUH JpQpUDOH GDQV OD SOXSDUW GHV W\SHV HW pSDLVVHXUV
GH WLVVXV
$LJXLOOH SRXU WLVVX H[WHQVLEOH
/HV DLJXLOOHV SRXU WLVVX H[WHQVLEOH RQW XQH WLJH VSpFLDOH
DILQ G
pYLWHU GH VDXWHU GHV SRLQWV TXDQG OH WLVVX HVW
VRXSOH
3RXU OH WULFRW OHV PDLOORWV GH EDLQ OH SRODLUH OHV GDLPV
HW OHV FXLUV V\QWKpWLTXHV 0DUTXpHV SDU XQH EDQGH MDXQH
3UpSDUDWLRQV
$LJXLOOH SRXU GHQLP
/HV DLJXLOOHV j GHQLP RQW XQH SRLQWH HIILOpH SRXU ELHQ
SpQpWUHU GDQV OHV WLVVXV WLVVpV VHUUpV VDQV WRUGUH
O
DLJXLOOH 3RXU OD JURVVH WRLOH OH GHQLP OHV PLFURILEUHV
0DUTXpHV SDU XQH EDQGH EOHXH
5HPDUTXH &KDQJH] O
DLJXLOOH IUpTXHPPHQW 8WLOLVH]
WRXMRXUV XQH DLJXLOOH GURLWH DYHF XQH ERQQH SRLQWH $
8QH DLJXLOOH HQGRPPDJpH % SHXW SURYRTXHU GHV SRLQWV
VDXWpV VH FDVVHU RX FDVVHU OH ILO (OOH SHXW pJDOHPHQW
HQGRPPDJHU OD SODTXH j DLJXLOOH
1
XWLOLVH] SDV G
DLJXLOOHV GRXEOHV DV\PpWULTXHV & FDU HOOHV
SHXYHQW HQGRPPDJHU YRWUH PDFKLQH j FRXGUH
&KDQJHPHQW G
DLJXLOOH
8WLOLVH] OH WURX GH O
RXWLO PXOWLXVDJHV SRXU WHQLU
O
DLJXLOOH
'HVVHUUH] OD YLV GH O
DLJXLOOH 8WLOLVH] OH WRXUQHYLV VL
QpFHVVDLUH
5HWLUH] O
DLJXLOOH
,QVpUH] OD QRXYHOOH DLJXLOOH j O
DLGH GH O
RXWLO PXOWL
XVDJHV 3RXVVH] OD QRXYHOOH DLJXLOOH YHUV OH KDXW
DYHF OH F{Wp SODW YHUV O
DUULqUH MXVTX
j FH TX
HOOH QH
SXLVVH SDV DOOHU SOXV KDXW
6HUUH] OD YLV G
DLJXLOOH OH SOXV SRVVLEOH
$EDLVVHPHQW GHV JULIIHV
G
HQWUDvQHPHQW
9RXV SRXYH] DEDLVVHU OHV JULIIHV G
HQWUDvQHPHQW HQ
GpSODoDQW O
LQWHUUXSWHXU j O
DUULqUH GX EUDV OLEUH YHUV OD
JDXFKH 3ODFH] O
LQWHUUXSWHXU VXU OD GURLWH VL YRXV YRXOH]
UHOHYHU OHV JULIIHV G
HQWUDvQHPHQW
5HPDUTXH /HV JULIIHV G
HQWUDvQHPHQW QH VH UHOqYHQW SDV
LPPpGLDWHPHQW ORUVTXH OH OHYLHU HVW DFWLYp 7RXUQH] OH YRODQW
G
XQ WRXU FRPSOHW RX FRPPHQFH] j FRXGUH SRXU UpHQFOHQFKHU
OHV JULIIHV G
HQWUDvQHPHQW
/HYpH GX SLHGGHELFKH
3UpSDUDWLRQV
/H SLHGGHELFKH HVW DEDLVVp RX OHYp DYHF OH UHOHYHXU GH
SLHGGHELFKH 6L YRXV FRXVH] VXU GX WLVVX pSDLV RX
SOXVLHXUV FRXFKHV GH WLVVX OH SLHGGHELFKH SHXW rWUH
OHYp GDYDQWDJH SRXU IDFLOLWHU OD PLVH HQ SODFH GX WLVVX
VRXV OH SLHGGHELFKH
&KDQJHPHQW GX SLHGGHELFKH
5HWLUHU OH SLHGGHELFKH
$SSX\H] VXU OH SLHGGHELFKH YHUV OH EDV MXVTX
j FH TX
LO
VH GpWDFKH GX VXSSRUW GH SLHGGHELFKH
,QVWDOOHU OH SLHGGHELFKH
3ODFH] OH SLHGGHELFKH VRXV OH VXSSRUW GH SLHGGHELFKH
$ HQ DOLJQDQW O
HQFRFKH & HW OHV SRLQWHV %
$EDLVVH] OH UHOHYHXU GH SLHGGHELFKH HW OH SLHGGHELFKH
V
HQFOHQFKHUD GDQV OH VXSSRUW GH SLHGGHELFKH
5HPDUTXH 9pULILH] TXH OH SLHGGHELFKH HVW ELHQ DWWDFKp HQ
OHYDQW OH UHOHYHXU GH SLHGGHELFKH
%RXWRQV HW LQGLFDWHXUV GH IRQFWLRQ
0DUFKH DUULqUH
0DUFKHDUUrW
/HYLHU GH FRQWU{OH GH YLWHVVH
3RLQW G
DUUrW LPPpGLDWSRLQW
G
DUUrW
$UUrW GH O
DLJXLOOH HQ KDXWHQ
EDV
%RXWRQ LQIR
%RXWRQV GH VpOHFWLRQ GLUHFWH
/DUJHXU GH SRLQW RX
SRVLWLRQQHPHQW GH SRLQW
/RQJXHXU GH SRLQW
6L YRXV DSSX\H] VXU FH ERXWRQ SHQGDQW TXH YRXV FRXVH]
OD PDFKLQH SLTXH HQ PDUFKH DUULqUH DXVVL ORQJWHPSV TXH
FH ERXWRQ HVW HQIRQFp
0DUFKHDUUrW
$SSX\H] VXU FH ERXWRQ SRXU GpPDUUHU HW DUUrWHU OD
PDFKLQH VDQV XWLOLVHU OD SpGDOH $SSX\H] VXU OH ERXWRQ
XQH IRLV SRXU OD GpPDUUHU HW DSSX\H] j QRXYHDX SRXU
O
DUUrWHU
/HYLHU GH FRQWU{OH GH YLWHVVH
/H OHYLHU GH FRQWU{OH GH YLWHVVH UqJOH OD YLWHVVH GH
FRXWXUH PD[LPXP 3RXU DXJPHQWHU OD YLWHVVH GH
FRXWXUH GpSODFH] OH OHYLHU YHUV OH KDXW SRXU UpGXLUH OD
YLWHVVH GH FRXWXUH GpSODFH] OH OHYLHU YHUV OH EDV
5HPDUTXH /D IRQFWLRQ GH SRLQW G
DUUrW Q
HVW SDV GLVSRQLEOH
SRXU OH SRLQW $UUrW GH O
DLJXLOOH HQ KDXWHQ EDV
$SSX\H] VXU FH ERXWRQ SRXU IDLUH PRQWHU RX GHVFHQGUH
O
DLJXLOOH /H UpJODJH GH OD SRVLWLRQ G
DUUrW GH O
DLJXLOOH HVW
PRGLILp HQ PrPH WHPSV 9RXV SRXYH] pJDOHPHQW
DSSX\HU VXU OD SpGDOH GH FRPPDQGH SRXU DEDLVVHU RX
UHOHYHU O
DLJXLOOH
/DUJHXU GH SRLQW RX SRVLWLRQQHPHQW GH
SRLQW
$XJPHQWH] RX GLPLQXH] OD ODUJHXU GH SRLQW j O
DLGH GHV
ERXWRQV © ª HW © ª 3RXU OHV SRLQWV GURLWV XWLOLVH] OHV
ERXWRQV © ª HW © ª SRXU PRGLILHU OD SRVLWLRQ GX SRLQW
5HPDUTXH SRVLWLRQV G
DLJXLOOH VRQW GLVSRQLEOHV /D YDOHXU
FRUUHVSRQG j OD SRVLWLRQ FHQWUDOH
3RLQW G
DUUrW LPPpGLDWSRLQW G
DUUrW
3RXU SLTXHU XQ SRLQW G
DUUrW LPPpGLDW DSSX\H] VXU OH
ERXWRQ SHQGDQW TXH YRXV FRXVH] /D PDFKLQH FRXG GHV
SRLQWV G
DUUrW LPPpGLDWHPHQW HW V
DUUrWH
DXWRPDWLTXHPHQW 3RXU UpJOHU OD PDFKLQH GH VRUWH
TX
HOOH SLTXH XQ SRLQW G
DUUrW j OD ILQ G
XQ SRLQW
DSSX\H] VXU OH ERXWRQ DYDQW GH FRPPHQFHU j FRXGUH /H
YR\DQW /(' VLWXp SUqV GX ERXWRQ V
DOOXPH /RUVTXH
YRWUH FRXWXUH DWWHLQW OD ORQJXHXU VRXKDLWpH DSSX\H] VXU
OH ERXWRQ GH PDUFKH DUULqUH DORUV TXH YRXV FRXVH]
HQFRUH /D PDFKLQH WHUPLQH DORUV OH SRLQW HQ FRXUV SLTXH
XQ SRLQW G
DUUrW HW V
DUUrWH DXWRPDWLTXHPHQW
/RQJXHXU GH SRLQW
$XJPHQWH] RX GLPLQXH] OD ORQJXHXU GH SRLQW j O
DLGH
GHV ERXWRQV © ª HW © ª
%RXWRQ LQIR
$SSX\H] VXU FH ERXWRQ SRXU DIILFKHU OHV
UHFRPPDQGDWLRQV GH SLHGGHELFKH VXU O
pFUDQ /('
3UpSDUDWLRQV
0DUFKH DUULqUH
%RXWRQV GH VpOHFWLRQ GLUHFWH
(Q DSSX\DQW VXU O
XQ GHV ERXWRQV YRXV VpOHFWLRQQH]
LPPpGLDWHPHQW OH SRLQW UHSUpVHQWp VXU FH ERXWRQ
0HVVDJHV VRQRUHVG
DYHUWLVVHPHQW
6RQ GH PDFKLQH
,O HVW SRVVLEOH GH FRXSHU OH VRQ GHV ERXWRQV GH OD
PDFKLQH $SSX\H] VXU OH ERXWRQ GH SRLQW G
DUUrW
LPPpGLDW DORUV TXH YRXV DOOXPH] OD PDFKLQH &KRLVLVVH]
HQWUH DXGLR RQ HW DXGLR RII HQ DSSX\DQW VXU OHV ERXWRQV
GH ODUJHXU GH SRLQW © ª RX © ª $SSX\H] VXU © ª
SRXU FRXSHU OH VRQ HW O
pFUDQ DIILFKHUD © ª
$SSX\H] VXU © ª SRXU DFWLYHU OH VRQ HW O
pFUDQ DIILFKHUD
© ª
3UpSDUDWLRQV
$SSX\H] VXU OH ERXWRQ GH SRLQW G
DUUrW LPPpGLDW SRXU
UHYHQLU DX PRGH FRXWXUH
3RVLWLRQ GH ERELQDJH GH FDQHWWH
/RUVTXH O
D[H GH ERELQDJH GH FDQHWWH HVW SRXVVp YHUV OD
GURLWH OHV OHWWUHV © 63 ª FOLJQRWHQW VXU O
DIILFKDJH /(' 6L
YRXV DSSX\H] VXU XQ ERXWRQ XQ ELS YRXV LQGLTXH GH
SRXVVHU O
D[H GX ERELQHXU GH FDQHWWH YHUV OD JDXFKH
SRVLWLRQ GH FRXWXUH
5HPDUTXH YRXV QH SRXYH] SDV FRXGUH HQ SRVLWLRQ GH
ERELQDJH GH FDQHWWH
6XUFKDUJH GX PRWHXU SULQFLSDO
9RWUH PDFKLQH j FRXGUH SHXW VXELU XQH VXUFKDUJH
ORUVTXH YRXV FRXVH] VXU GHV WLVVXV pSDLV SDU H[HPSOH OH
ILO SHXW V
HQWRUWLOOHU RX VH FRLQFHU RX O
D[H GX YRODQW
SHXW QH SOXV WRXUQHU 8Q ELS PRQRWRQH UHWHQWLW HW OHV
OHWWUHV © (/ ª FOLJQRWHQW VXU O
DIILFKDJH /(' 9HXLOOH]
YRXV UHSRUWHU DX FKDSLWUH GH GpSDQQDJH SRXU WURXYHU
XQH VROXWLRQ UHFRPPDQGpH 8QH IRLV OH SUREOqPH UpVROX
OD PDFKLQH VH UHPHW j FRXGUH
5HPDUTXH 3HQGDQW OD FRXWXUH VL OH ILO UHVWH FRLQFp GDQV OH
FURFKHW HPSrFKDQW O
DLJXLOOH GH ERXJHU HW TXH YRXV FRQWLQXH]
j DSSX\HU VXU OD SpGDOH O
LQWHUUXSWHXU GH VpFXULWp DUUrWH OD
PDFKLQH FRPSOqWHPHQW 5HGpPDUUH] OD PDFKLQH j FRXGUH HQ
SODoDQW O
LQWHUUXSWHXU 212)) VXU 2)) SXLV j QRXYHDX VXU
21
5HPDUTXH 6L OH SUREOqPH Q
HVW SDV UpVROX YHXLOOH] FRQWDFWHU
YRWUH UHYHQGHXU DJUpp OH &UpDWLRQV GH PRGHŠ SOXV SURFKH
&RXWXUH
/RUVTXH OD PDFKLQH HVW DOOXPpH OH SRLQW GURLW HVW
VpOHFWLRQQp SDU GpIDXW
6pOHFWLRQQHU XQ SRLQW
(Q DSSX\DQW VXU O
XQ GHV ERXWRQV YRXV VpOHFWLRQQH]
LPPpGLDWHPHQW OH SRLQW UHSUpVHQWp VXU FH ERXWRQ /D
SUpVHQWDWLRQ GH SRLQW SDJH DIILFKH OD WHQVLRQ GH ILO HW OH
SLHGGHELFKH UHFRPPDQGpV SRXU FKDTXH SRLQW $SUqV
DYRLU VpOHFWLRQQp YRWUH SRLQW UpJOH] OD WHQVLRQ GH ILO HW
IL[H] OH SLHGGHELFKH UHFRPPDQGp
5pJODJHV GH SRLQW
9RWUH PDFKLQH UqJOH DXWRPDWLTXHPHQW OD ORQJXHXU $
HW OD ODUJHXUOH SRVLWLRQQHPHQW % GX SRLQW VpOHFWLRQQp
9RXV SRXYH] IDLUH YRV SURSUHV UpJODJHV VXU OH SRLQW
VpOHFWLRQQp /HV PRGLILFDWLRQV GH UpJODJH Q
DIIHFWHQW TXH
OH SRLQW VpOHFWLRQQp HW OHV UpJODJHV SDU GpIDXW VRQW
UpWDEOLV ORUVTX
XQ DXWUH SRLQW HVW VpOHFWLRQQp /HV
UpJODJHV DMXVWpV QH VRQW SDV HQUHJLVWUpV
DXWRPDWLTXHPHQW ORUVTXH YRXV pWHLJQH] YRWUH PDFKLQH
&RXWXUH
$SSX\H] XQH IRLV VXU OH ERXWRQ © ª RX © ª j F{Wp GX
UpJODJH TXH YRXV VRXKDLWH] PRGLILHU /D YDOHXU GpILQLH
VHUD LQGLTXpH HQ FKLIIUHV VXU O
DIILFKDJH 0RGLILH] OD
YDOHXU GpILQLH HQ DSSX\DQW VXU OH ERXWRQ © ª RX © ª
/D ODPSH /(' & j F{Wp GHV UpJODJHV V
DOOXPH SRXU
LQGLTXHU TXH OD YDOHXU GpILQLH Q
HVW SDV OD YDOHXU SDU
GpIDXW 6L YRXV GpSDVVH] OHV UpJODJHV PLQLPXP RX
PD[LPXP XQ DYHUWLVVHPHQW VRQRUH UHWHQWLW
5HPDUTXH /D YDOHXU SDU GpIDXW G
XQ UpJODJH FOLJQRWH j
O
pFUDQ ORUVTXH YRXV SDUFRXUH] OHV YDOHXUV GH UpJODJH
&RPPHQFH] j FRXGUH 3RLQW GURLW
5pJOH] OD PDFKLQH VXU XQ SRLQW GURLW YRLU
6pOHFWLRQQHU XQ SRLQW SDJH /HYH] OH SLHGGHELFKH HW
SODFH] OH WLVVX GHVVRXV $OLJQH] OH ERUG GX WLVVX DYHF
O
XQH GHV OLJQHV GH JXLGDJH VXU OD SODTXH j DLJXLOOH /D
OLJQH GH JXLGDJH SRXU XQH FRXWXUH GH PP VH
WURXYH VXU OH FRXYHUFOH GH OD FDQHWWH
$EDLVVH] O
DLJXLOOH j O
HQGURLW R YRXV YRXOH]
FRPPHQFHU $EDLVVH] OH SLHGGHELFKH HW WLUH] OHV ILOV
YHUV O
DUULqUH $SSX\H] VXU OD SpGDOH *XLGH] GRXFHPHQW
OH WLVVX OH ORQJ GX JXLGH GH FRXWXUH HQ ODLVVDQW OD
PDFKLQH HQWUDvQHU OH WLVVX
5HPDUTXH 2EWHQH] XQ SODFHPHQW SOXV H[DFW GH YRWUH SRLQW
GURLW ORUV GHV VXUSLT€UHV GH O
LQVHUWLRQ GH IHUPHWXUHV j
JOLVVLqUH RX GH OD FRXWXUH GH SDVVHSRLOV HQ DMXVWDQW OD SRVLWLRQ
GH O
DLJXLOOH /D SRVLWLRQ FHQWUDOH GH O
DLJXLOOH HVW 8WLOLVH]
OH ERXWRQ GH ODUJHXU GH SRLQW © ª SRXU GpSODFHU O
DLJXLOOH
YHUV OD JDXFKH HW © ª SRXU OD GpSODFHU YHUV OD GURLWH YRLU
SDJH &KDQJHU GH VHQV GH FRXWXUH
3RXU FKDQJHU OH VHQV GH FRXWXUH DUUrWH] OD PDFKLQH HW
DSSX\H] VXU OH ERXWRQ DUUrW HQ KDXWHQ EDV RX WDSH] VXU
OD SpGDOH SRXU DEDLVVHU O
DLJXLOOH GDQV OH WLVVX
&RXWXUH
5HOHYH] OH SLHGGHELFKH
3LYRWH] OH WLVVX DXWRXU GH O
DLJXLOOH SRXU FKDQJHU GH VHQV
GH FRXWXUH j YRWUH JUp $EDLVVH] OH SLHGGHELFKH HW
FRQWLQXH] j FRXGUH GDQV OH QRXYHDX VHQV
7HUPLQHU OD FRXWXUH
$SSX\H] VXU OH ERXWRQ G
LQYHUVLRQ GH SRLQWV HW
PDLQWHQH]OH HQIRQFp SXLV FRXVH] SOXVLHXUV SRLQWV HQ
PDUFKH DUULqUH j OD ILQ GH OD FRXWXUH
/HYH] OH SLHGGHELFKH HW UHWLUH] OH WLVVX HQ WLUDQW OHV ILOV
YHUV O
DUULqUH
7LUH] OHV ILOV YHUV OH KDXW HW GDQV OH FRXSHILO
/HV ILOV VRQW FRXSpV j OD ORQJXHXU DGpTXDWH SRXU
FRPPHQFHU OD FRXWXUH VXLYDQWH
3RLQW GURLW 7HFKQLTXHV GH FRXWXUH
3RLQW GURLW UHQIRUFp
/H SRLQW GURLW UHQIRUFp RX WULSOH HVW XQ SRLQW WUqV
GXUDEOH HW pODVWLTXH ,O SHXW rWUH XWLOLVp SRXU OD FRXWXUH
GH WLVVXV pSDLV \ FRPSULV OHV WLVVXV H[WHQVLEOHV 8WLOLVH]
OH j OD SODFH GX SRLQW GURLW QRUPDO GDQV OHV ]RQHV R OH
WLVVX VXELUD SOXV GH FRQWUDLQWH
/H PRXYHPHQW HQ DYDQW HQ DUULqUH HQ DYDQW GX SRLQW
VLJQLILH TX
LO QH VH WLUH SDV IDFLOHPHQW HW GLVSRVH GH
O
pODVWLFLWp QpFHVVDLUH SRXU OHV WLVVXV H[WHQVLEOHV /H SRLQW
GURLW UHQIRUFp HVW pJDOHPHQW H[FHOOHQW SRXU OD VXUSLT€UH
VXU OHV WLVVXV SOXV pSDLV
*XLGH] GpOLFDWHPHQW OH WLVVX j PHVXUH TX
LO VH GpSODFH
YHUV O
DYDQW RX YHUV O
DUULqUH SHQGDQW TXH YRXV FRXVH]
3RLQW GURLW UHQIRUFp 3RLQW ]LJ]DJ WURLV SRLQWV
/H SRLQW ]LJ]DJ WURLV SRLQWV V
XWLOLVH SRXU VXUILOHU OHV
ERUGV EUXWV 9HLOOH] j FH TXH O
DLJXLOOH SHUFH OH WLVVX VXU
OH F{Wp JDXFKH HW VXUILOH OH ERUG VXU OH F{Wp GURLW
&H SRLQW SHXW pJDOHPHQW rWUH XWLOLVp HQ WDQW TXH SRLQW
pODVWLTXH SRXU SHUPHWWUH DX[ FRXWXUHV GH V
pWLUHU ORUV GH
OD FRXWXUH GH WULFRWV
&RXWXUH
3RLQW ]LJ]DJ WURLV SRLQWV 3RLQW GH VXUILODJH
/H SRLQW GH VXUILODJH DVVHPEOH HW ILQLW OH ERUG HQ XQH
VHXOH IRLV ,O HVW LGpDO SRXU OHV WLVVXV H[WHQVLEOHV /H
UpVXOWDW FRXVX HVW SOXV pODVWLTXH TXH OHV FRXWXUHV
QRUPDOHV HQ RXWUH LO HVW WUqV GXUDEOH HW UDSLGHPHQW
UpDOLVp 8WLOLVH] OH SLHG QXPpUR $VWXFH /RUVTXH YRXV FRXVH] JXLGH] OH ERUG GX WLVVX OH ORQJ
GH OD SRLQWH HQ PpWDO GX SLHG /HV SRLQWV VH IRUPHQW DXGHVVXV
GH OD SRLQWH HW OH WLVVX QH IURQFH SDV
5HPDUTXH 3RXU OHV SRLQWV G
XQH ODUJHXU GLIIpUHQWH TXH OH
UpJODJH SDU GpIDXW IDLWHV G
DERUG XQ HVVDL SRXU DVVXUHU TXH
O
DLJXLOOH QH KHXUWH SDV OD SRLQW PpWDOOLTXH GX SLHG 7RXUQH] OH
YRODQW SRXU YpULILHU OH ERQ EDODQFHPHQW GH O
DLJXLOOH
3RLQW GH VXUILODJH 3RLQW RYHUORFN IHUPp
/H SRLQW RYHUORFN IHUPp HVW LGpDO SRXU OD FRXWXUH GH
WULFRWV 3RLQW GXUDEOH LGpDO SRXU DVVHPEOHU OHV
HQFROXUHV HW OHV SRLJQHWV GH WULFRWV 8WLOLVH] OH SLHG
QXPpUR &RXWXUH
$VWXFH /RUVTXH YRXV FRXVH] JXLGH] OH ERUG GX WLVVX OH ORQJ
GH OD SRLQWH HQ PpWDO GX SLHG /HV SRLQWV VH IRUPHQW DXGHVVXV
GH OD SRLQWH HW OH WLVVX QH IURQFH SDV
5HPDUTXH 3RXU OHV SRLQWV G
XQH ODUJHXU GLIIpUHQWH TXH OH
UpJODJH SDU GpIDXW IDLWHV G
DERUG XQ HVVDL SRXU DVVXUHU TXH
O
DLJXLOOH QH KHXUWH SDV OD SRLQW PpWDOOLTXH GX SLHG 7RXUQH] OH
YRODQW SRXU YpULILHU OH ERQ EDODQFHPHQW GH O
DLJXLOOH
3RLQW RYHUORFN IHUPp 8WLOLVH] OH SRLQW RYHUORFN IHUPp SRXU RXUOHU OHV WLVVXV
H[WHQVLEOHV $ HW SRXU OHV SDVVDQWV GH FHLQWXUH % 3OLH]
XQ RXUOHW VXU O
HQYHUV HW FRXVH] VXU O
HQGURLW &RXSH] OH
VXUSOXV GH WLVVX 8WLOLVH] pJDOHPHQW FHWWH WHFKQLTXH SRXU
UpDOLVHU OHV SDVVDQWV GH FHLQWXUH
2XUOHW LQYLVLEOH pODVWLTXH
/H SRLQW G
RXUOHW LQYLVLEOH HVW XWLOLVp SRXU IDLUH GHV
RXUOHWV LQYLVLEOHV VXU OHV MXSHV SDQWDORQV OHV GUDSHULHV
HW ELHQ SOXV /H SRLQW LQYLVLEOH pODVWLTXH FRQYLHQW
SDUWLFXOLqUHPHQW DX[ WLVVXV H[WHQVLEOHV FDU OH ]LJ]DJ
GDQV OH SRLQW OXL SHUPHW GH V
pWLUHU PDLV LO SHXW
pJDOHPHQW rWUH XWLOLVp VXU OHV WLVVXV WLVVpV 8WLOLVH] OH
SLHG QXPpUR 2XUOHW LQYLVLEOH pODVWLTXH )LQLVVH] OH ERUG GH O
RXUOHW VL YRXV FRXVH] VXU XQ
WLVVX WLVVp ,O Q
HVW SDV QpFHVVDLUH GH ILQLU HQ SUHPLHU
OH ERUG EUXW VXU OD SOXSDUW GHV WULFRWV
3OLH] HW UHSDVVH] OH VXUSOXV G
RXUOHW VXU O
HQYHUV
5HSOLH] O
RXUOHW VXU OXLPrPH DILQ TX
HQYLURQ FP
µ GX ERUG ILQL GpSDVVH GX SOL /
HQYHUV GH
YRWUH RXYUDJH GRLW GpVRUPDLV rWUH RULHQWp YHUV OH
KDXW
3ODFH] OH WLVVX VRXV OH SLHGGHELFKH DILQ TXH OH SOL
SDVVH OH ORQJ GX JXLGHERUG $
/RUVTXH O
DLJXLOOH SLTXH GDQV OH SOL HOOH GRLW
V
HQIRQFHU GDQV XQH SHWLWH TXDQWLWp GH WLVVX 6L OHV
SRLQWV VRQW YLVLEOHV VXU O
HQGURLW UpJOH] OH JXLGH
ERUG $ HQ WRXUQDQW OD YLV GH UpJODJH % MXVTX
j FH
TXH OH SRLQW TXL SLTXH O
RXUOHW VRLW SUDWLTXHPHQW
LQYLVLEOH
&RXWXUH
(QGURLW GX WLVVX
&RXWXUH GH SLqFHV HW G
DSSOLTXpV
3RXU FRXYULU XQ JUDQG WURX LO HVW QpFHVVDLUH GH FRXGUH
XQ QRXYHDX PRUFHDX GH WLVVX VXU OD ]RQH DEvPpH
%kWLVVH] OH QRXYHDX PRUFHDX GH WLVVX VXU OD ]RQH
DEvPpH VXU O
HQGURLW GX WLVVX
&RXVH] OHV ERUGV GX WLVVX DYHF OH SRLQW ]LJ]DJ RX OH
SRLQW ]LJ]DJ WURLV SRLQWV 'pFRXSH] OD ]RQH DEvPpH SUqV
GH OD FRXWXUH VXU O
HQYHUV GX WLVVX
3RXU OHV DSSOLTXpV GpFRUDWLIV EkWLVVH] O
DSSOLTXp DYHF
GHV pSLQJOHV GH V€UHWp RX j OD PDFKLQH VXU YRWUH WLVVX
RXYUDJH HW FRXVH] DXWRXU GHV ERUGV DYHF OH SRLQW ]LJ]DJ
OH SRLQW ]LJ]DJ WURLV SRLQWV OH SRLQW RYHUORFN IHUPp RX OH
SRLQW G
DLJXLOOH
5HSULVDJH DYHF OH SRLQW ]LJ]DJ WURLV SRLQWV
8Q SHWLW WURX RX XQ DFFURF SHXW rWUH UDFFRPPRGp
IDFLOHPHQW DYHF OH SRLQW ]LJ]DJ WURLV SRLQWV
&RXVH] SDU UDQJpHV HQ WUDYHUV GH OD ]RQH DEvPpH MXVTX
j
FH TX
HOOH VRLW ELHQ UHFRXYHUWH $VVXUH]YRXV TXH OHV
UDQJpHV VH FKHYDXFKHQW
$VWXFH 3RXU TXH OH UHSULVDJH VRLW HQFRUH SOXV VROLGH SODFH]
XQ PRUFHDX GH WLVVX VRXV OH WURXDFFURF DYDQW GH FRXGUH
5pSDUDWLRQ G
DFFURFV
&RXWXUH
3RXU OHV GpFKLUXUHV ERUGV HIILORFKpV RX SHWLWV WURXV
UHQIRUFH] OD ]RQH HQ SODoDQW XQ PRUFHDX GH WLVVX VRXV OD
]RQH DEvPpH /H WLVVX GRLW rWUH G
XQ W\SHSRLGV
VLPLODLUH HW OH PRUFHDX GRLW rWUH OpJqUHPHQW SOXV JUDQG
TXH OD ]RQH DEvPpH
&RXVH] HQ WUDYHUV GH OD ]RQH DYHF OH SRLQW ]LJ]DJ RX OH
SRLQW ]LJ]DJ WURLV SRLQWV 'pFRXSH] OH WLVVX HQGHVVRXV
SUqV GH OD FRXWXUH
&RXWXUH GH ERXWRQV
&RXVH] GHV ERXWRQV UDSLGHPHQW DYHF YRWUH PDFKLQH j
FRXGUH
5HWLUH] OH SLHGGHELFKH HW DEDLVVH] OHV JULIIHV
G
HQWUDvQHPHQW
5pJOH] OD PDFKLQH VXU OH SRLQW GH ]LJ]DJ HW FRXVH] OD
ORQJXHXU GH SRLQW GH 0DUTXH] OH WLVVX j O
HQGURLW R OH ERXWRQ GRLW rWUH
FRXVX 3RVLWLRQQH] OH WLVVX HW OH ERXWRQ VRXV OD
FKHYLOOH $EDLVVH] OH SLHGGHELFKH 7RXUQH] OH
YRODQW SRXU YpULILHU TXH OHV WURXV VRQW DOLJQpV DX
EDODQFHPHQW GH O
DLJXLOOH $MXVWH] VL QpFHVVDLUH
5HPDUTXH /D ODUJHXU SUpUpJOpH GH PP HVW
UHFRPPDQGpH SRXU OD SOXSDUW GHV ERXWRQV 6L YRXV FRXVH]
XQ WUqV SHWLW RX XQ WUqV JURV ERXWRQ GH PDQWHDX UpGXLVH]
RX DXJPHQWH] OD ODUJHXU GX SRLQW MXVTX
j FH TXH O
DLJXLOOH
SLTXH GDQV OHV WURXV GX ERXWRQ
5HPDUTXH 1
XWLOLVH] SDV FHWWH WHFKQLTXH VL OH ERXWRQ
PHVXUH PRLQV GH FP µ GH GLDPqWUH
$SSX\H] VXU OD SpGDOH HW FRXVH] VL[ j KXLW SRLQWV
5pGXLVH] OD ODUJHXU GX SRLQW VXU HW IL[H] OHV ILOV HQ
SLTXDQW TXHOTXHV SRLQWV
5HOHYH] OHV JULIIHV G
HQWUDvQHPHQW XQH IRLV OH ERXWRQ
FRXVX
5HPDUTXH 8WLOLVH] O
RXWLO PXOWLXVDJHV SRXU FUpHU XQH WLJH
GH ILO SRXU YRWUH ERXWRQ 9RXV SRXYH] pJDOHPHQW XWLOLVHU OH
SLHG SRXU FRXWXUH GH ERXWRQ Qž GLVSRQLEOH FRPPH
DFFHVVRLUH RSWLRQQHO
%RXWRQQLqUH VWDQGDUG
/H WLVVX GRLW rWUH HQWRLOp Oj R YRXV FRXVH] XQH
ERXWRQQLqUH
0DUTXH] OD SRVLWLRQ GH GpSDUW HW OD ORQJXHXU GH OD
ERXWRQQLqUH VXU OH WLVVX $
3RVH] OH SLHG SRXU ERXWRQQLqUH XQH pWDSH %
2XYUH] OH SRUWHERXWRQ HQ SRXVVDQW OH OHYLHU YHUV
O
DUULqUH % ,QVpUH] OH ERXWRQ 5DPHQH] OH SRUWH
ERXWRQ YHUV O
DYDQW MXVTX
j FH TXH OH ERXWRQ WLHQQH
ELHQ HQ SODFH & /H ERXWRQ GpWHUPLQH OD ORQJXHXU
GH OD ERXWRQQLqUH
9HLOOH] j FH TXH OH ILO VRLW WLUp j O·LQWpULHXU GX SLHG
GHELFKH HW HQVXLWH SODFp VRXV OH SLHG
&RXWXUH
3ODFH] YRWUH YrWHPHQW VRXV OH SLHGGHELFKH GH VRUWH
TXH OH PDUTXDJH VXU OH WLVVX VRLW DOLJQp DYHF OH FHQWUH
GX SLHG SRXU ERXWRQQLqUH '
$EDLVVH] OH OHYLHU GH ERXWRQQLqUH MXVTX
HQ EDV HW
SRXVVH]OH HQ O
pORLJQDQW GH YRXV /H OHYLHU GH
ERXWRQQLqUH GRLW V
LQWURGXLUH HQWUH OH OHYLHU GX
SRUWHERXWRQ % HW OD EXWpH (
7HQH] O
H[WUpPLWp GX ILO VXSpULHXU HW FRPPHQFH] j
FRXGUH /D ERXWRQQLqUH HVW FRXVXH j SDUWLU GH O
DYDQW
GX SLHGGHELFKH YHUV O
DUULqUH FRPPH LOOXVWUp /D
PDFKLQH QRXH OH ILO HW DUUrWH GH FRXGUH ORUVTXH OD
GHUQLqUH FRORQQH GH ERXWRQQLqUH HVW ILQLH
8QH IRLV OD ERXWRQQLqUH WHUPLQpH UHOHYH] OH SLHGGH
ELFKH 7LUH] OH OHYLHU GH ERXWRQQLqUH YHUV YRXV HW
SRXVVH]OH MXVTX
HQ KDXW
3RXU IL[HU OH UHQIRUW HQILOH] O
H[WUpPLWp GX ILO
VXSpULHXU GDQV XQH DLJXLOOH WLUH]OH VXU O
HQYHUV HW
IDLWHV XQ Q±XG DYDQW GH FRXSHU O
H[FqV GH ILO
6L YRXV YRXOH] UpSpWHU OD ERXWRQQLqUH QH SRXVVH] SDV OH
OHYLHU GH ERXWRQQLqUH YHUV OH KDXW ORUVTXH OD
ERXWRQQLqUH HVW WHUPLQpH &RXVH] SOXW{W XQH DXWUH
ERXWRQQLqUH
5HPDUTXH ,O HVW UHFRPPDQGp GH WRXMRXUV FRXGUH XQH
ERXWRQQLqUH G
HVVDL VXU XQH FKXWH GH WLVVX
2XYUH] VRLJQHXVHPHQW YRWUH ERXWRQQLqUH DYHF XQ
'pFRXYLW
%RXWRQQLqUH JDQVpH
/HV ERXWRQQLqUHV JDQVpHV FRXVXHV DYHF GHV ILOV JXLSpV
VRQW SOXV VWDEOHV GXUDEOHV HW RQW XQ DVSHFW
SURIHVVLRQQHO 8WLOLVH] GX FRWRQ SHUOp RX XQ ILO JXLSp
QRUPDO
(QURXOH] XQ PRUFHDX GH ILO pSDLV RX GH FRWRQ SHUOp
VXU OH GRLJW j O
DUULqUH GX SLHG $ 7LUH] OHV
H[WUpPLWpV GHV ILOV VRXV OH SLHG YHUV O
DYDQW SXLV
DWWDFKH]OHV DXWRXU GX GRLJW j O
DYDQW GX SLHG %
&RXVH] XQH ERXWRQQLqUH /HV FRORQQHV IDQWDLVLH GH OD
ERXWRQQLqUH VH SLTXHQW VXU OH FRUGRQQHW
&RXWXUH
8QH IRLV TXH OD ERXWRQQLqUH HVW WHUPLQpH HQOHYH] OH
FRUGRQQHW GX GRLJW HW WHQGH]OH HQ WLUDQW
(QILOH] OHV H[WUpPLWpV GX ILO VXSpULHXU GDQV XQH
DLJXLOOH WLUH]OHV VXU O
HQYHUV HW IDLWHV XQ Q±XG DYDQW
GH FRXSHU O
H[FqV GH ILO
&RXWXUH GH IHUPHWXUHV j JOLVVLqUH
/H SLHG SRXU IHUPHWXUH j JOLVVLqUH SHXW rWUH LQVWDOOp j
GURLWH RX j JDXFKH GH O
DLJXLOOH SRXU IDFLOLWHU OD FRXWXUH
SUqV GX ERUG GHV GHQWV GH OD IHUPHWXUH
3RXU FRXGUH OH F{Wp JDXFKH GH OD IHUPHWXUH j JOLVVLqUH
SRVH] OH SLHG GDQV OD SRVLWLRQ GH SLHGGHELFKH GH GURLWH
$
3RXU FRXGUH OH F{Wp GURLW GH OD IHUPHWXUH j JOLVVLqUH
SRVH] OH SLHG GDQV OD SRVLWLRQ GH SLHGGHELFKH GH
JDXFKH %
&HQWUH] OD IHUPHWXUH
&RXVH] OHV GHX[ PRUFHDX[ GH WLVVX HQGURLW FRQWUH
HQGURLW OH ORQJ GH OD OLJQH JXLGH GH PP Ɏļ VXU
OD SODTXH j DLJXLOOH HQ YRXV DUUrWDQW j OD KDXWHXU GX
FUDQ GH OD IHUPHWXUH
%kWLVVH] OH UHVWH GH OD FRXWXUH j O
HQGURLW R VHUD
SODFpH OD IHUPHWXUH XWLOLVH] XQ SRLQW GURLW GH PP
GH ORQJXHXU DYHF XQH WHQVLRQ GH ILO GH 5HSDVVH]
OD FRXWXUH HQ O
RXYUDQW 3ODFH] OD IHUPHWXUH j
JOLVVLqUH DYHF O
HQYHUV VXU OH GHVVXV HQ KDXW GX
VXUSOXV GH FRXWXUH UHWRXUQp HQ DOLJQDQW OD
IHUPHWXUH j JOLVVLqUH LQIpULHXUH DYHF OH FUDQ GDQV OH
WLVVX eSLQJOH] OD IHUPHWXUH j JOLVVLqUH HQ SODFH
GHSXLV O
HQGURLW GX WLVVX &
&RXWXUH
5pJOH] OD PDFKLQH VXU XQ SRLQW GURLW YRLU
6pOHFWLRQQHU XQ SRLQW 3RVH] OH SLHG SRXU IHUPHWXUH j
JOLVVLqUH GH VRUWH TXH O
DLJXLOOH VH WURXYH j JDXFKH
GX SLHG 3ODFH] OH WLVVX VRXV OH F{Wp GURLW GX SLHG
DYHF OH SLHG SRXU IHUPHWXUH j GURLWH GH OD IHUPHWXUH
&RPPHQFH] j FRXGUH HQ WUDYHUV GX EDV WRXUQH] OH
WLVVX HW SLTXH] OH F{Wp GURLW GH OD IHUPHWXUH j
JOLVVLqUH VXU OH KDXW YRLU '
3RXU pYLWHU TXH OH WLVVX QH ERXJH FRXVH] OH F{Wp
JDXFKH GH OD IHUPHWXUH j JOLVVLqUH GDQV OD PrPH
GLUHFWLRQ 3RVH] OH SLHG SRXU IHUPHWXUH j JOLVVLqUH GH VRUWH TXH O
DLJXLOOH VH WURXYH j GURLWH GX SLHG
&RPPHQFH] j FRXGUH HQ WUDYHUV GX EDV WRXUQH] OH
WLVVX HW SLTXH] OH F{Wp JDXFKH GH OD IHUPHWXUH HQ
FRXVDQW GX EDV YHUV OH KDXW YRLU (
5HWLUH] OHV SRLQWV GH EkWL
(QWUHWLHQ
1HWWR\DJH GH OD PDFKLQH
3RXU TXH YRWUH PDFKLQH j FRXGUH IRQFWLRQQH WRXMRXUV
FRUUHFWHPHQW QHWWR\H]OD IUpTXHPPHQW ,O Q
HVW SDV
QpFHVVDLUH GH OD OXEULILHU
(VVX\H] OHV VXUIDFHV H[WpULHXUHV GH YRWUH PDFKLQH j
FRXGUH j O
DLGH G
XQ FKLIIRQ GRX[ SRXU HQOHYHU OHV
SRXVVLqUHV RX OHV SHOXFKHV DFFXPXOpHV
1HWWR\DJH GX FRPSDUWLPHQW GH FDQHWWH
5HOHYH] O
DLJXLOOH DEDLVVH] OHV JULIIHV G
HQWUDvQHPHQW
HW pWHLJQH] OD PDFKLQH
5HWLUH] OH SLHGGHELFKH 3RXVVH] OH ERXWRQ GH
GpYHUURXLOODJH GX FRXYHUFOH GH FDQHWWH $ YHUV OD GURLWH
HW HQOHYH] OH FRXYHUFOH GH FDQHWWH % HW OD FDQHWWH
8WLOLVH] OH WRXUQHYLV SRXU UHWLUHU OHV GHX[ YLV & GH OD
SODTXH j DLJXLOOH 6RXOHYH] OD SODTXH j DLJXLOOH
(QWUHWLHQ
1HWWR\H] OHV JULIIHV G
HQWUDvQHPHQW HW OH FRPSDUWLPHQW
GH FDQHWWH DYHF OD EURVVH IRXUQLH GDQV OHV DFFHVVRLUHV
1HWWR\DJH VRXV OH FRPSDUWLPHQW GH FDQHWWH
1HWWR\H] VRXV OH FRPSDUWLPHQW GH FDQHWWH DSUqV DYRLU
FRXVX SOXVLHXUV RXYUDJHV RX ORUVTXH YRXV UHPDUTXH]
XQH DFFXPXODWLRQ GH SHOXFKHV GDQV OD ]RQH GX
FRPSDUWLPHQW GH FDQHWWH
5HWLUH] OH FRPSDUWLPHQW GH FDQHWWH HQ OH VRXOHYDQW HW HQ
OH SRXVVDQW YHUV OD GURLWH 1HWWR\H] OH FRPSDUWLPHQW
DYHF OD EURVVH RX XQ FKLIIRQ VHF
5HPHWWH] OH FRPSDUWLPHQW GH FDQHWWH GDQV OD ]RQH
G
DWWDFKH GH VRUWH TXH OH ERXW V
HPERvWH GDQV OD EXWpH
'
5HPDUTXH 1H VRXIIOH] SDV GDQV OD ]RQH GX FRPSDUWLPHQW GH
FDQHWWH /D SRXVVLqUH HW OHV SHOXFKHV VHUDLHQW SURMHWpHV GDQV
YRWUH PDFKLQH
5HPLVH HQ SODFH GH OD SODTXH j
DLJXLOOH
$YHF OHV JULIIHV G
HQWUDvQHPHQW DEDLVVpHV UHPHWWH] OD
SODTXH j DLJXLOOHV SXLV LQVpUH] HW VHUUH] OHV GHX[ YLV GH
OD SODTXH j DLJXLOOH
5HPHWWH] OH FRXYHUFOH GH FDQHWWH HQ SODFH
'pSDQQDJH
'DQV FH JXLGH GH GpWHFWLRQ GHV SDQQHV YRXV WURXYHUH]
GHV VROXWLRQV DX[ SUREOqPHV SRXYDQW DYRLU OLHX VXU
YRWUH PDFKLQH 3RXU SOXV G
LQIRUPDWLRQV YHXLOOH]
FRQWDFWHU YRWUH UHYHQGHXU DJUpp OH &UpDWLRQV GH PRGHŠ
SOXV SURFKH
3UREOqPHV JpQpUDX[
/H WLVVX QH VH GpSODFH SDV "
9HLOOH] j FH TXH OHV JULIIHV G
HQWUDvQHPHQW QH VRLHQW SDV
DEDLVVpHV
/
DLJXLOOH VH FDVVH "
,QVpUH] FRUUHFWHPHQW O
DLJXLOOH YRLU SDJH 3RVH] XQH DLJXLOOH DGDSWpH DX WLVVX
/D PDFKLQH QH FRXG SDV "
9pULILH] TXH WRXWHV OHV SULVHV VRQW EUDQFKpHV
FRUUHFWHPHQW GDQV OD PDFKLQH HW GDQV OD SULVH PXUDOH
(QIRQFH] O
D[H GX ERELQHXU HQ SRVLWLRQ GH FRXWXUH
(QWUHWLHQ
/HV ERXWRQV GH IRQFWLRQ GH OD PDFKLQH j FRXGUH QH
UpSRQGHQW SDV DX WRXFKHU "
/HV SULVHV HW OHV ERXWRQV GH IRQFWLRQV VXU OD PDFKLQH
SHXYHQW rWUH VHQVLEOHV j O
pOHFWULFLWp VWDWLTXH 6L OHV
ERXWRQV QH UpSRQGHQW SDV DX WRXFKHU pWHLJQH] SXLV
UDOOXPH] OD PDFKLQH 6L OH SUREOqPH SHUVLVWH FRQWDFWH]
YRWUH UHYHQGHXU DJUpp OH &UpDWLRQV GH PRGHŠ SOXV
SURFKH
/D PDFKLQH Q
HQWUDvQH SDV OH WLVVX RX O
HQWUDvQHPHQW HVW LUUpJXOLHU
$YH]YRXV HQILOp FRUUHFWHPHQW OD PDFKLQH "
9pULILH] O
HQILODJH GH OD PDFKLQH
< DWLO GHV DPDV GH SHOXFKHV HQWUH OHV JULIIHV
G
HQWUDvQHPHQW "
5HWLUH] OD SODTXH j DLJXLOOH HW QHWWR\H] OHV JULIIHV DYHF
XQH EURVVH
/D PDFKLQH VDXWH GHV SRLQWV
$YH]YRXV LQVpUp FRUUHFWHPHQW O
DLJXLOOH "
,QVpUH] FRUUHFWHPHQW O
DLJXLOOH YRLU SDJH $YH]YRXV LQVpUp OD ERQQH DLJXLOOH "
8WLOLVH] XQH DLJXLOOH GX V\VWqPH +
/
DLJXLOOH HVWHOOH FRXUEpH RX pPRXVVpH "
,QVpUH] XQH QRXYHOOH DLJXLOOH
$YH]YRXV HQILOp FRUUHFWHPHQW OD PDFKLQH "
9pULILH] O
HQILODJH GH OD PDFKLQH
8WLOLVH]YRXV OH ERQ SLHGGHELFKH "
$WWDFKH] OH SLHGGHELFKH DGpTXDW
/
DLJXLOOH Q
HVWHOOH SDV WURS SHWLWH SRXU OH ILO "
9HLOOH] j FH TXH O
DLJXLOOH VRLW DGDSWpH DX ILO HW DX WLVVX
/H ILO G
DLJXLOOH FDVVH
$YH]YRXV LQVpUp FRUUHFWHPHQW O
DLJXLOOH "
,QVpUH] FRUUHFWHPHQW O
DLJXLOOH YRLU SDJH $YH]YRXV LQVpUp OD ERQQH DLJXLOOH "
8WLOLVH] XQH DLJXLOOH GX V\VWqPH +
/
DLJXLOOH HVWHOOH FRXUEpH RX pPRXVVpH "
,QVpUH] XQH QRXYHOOH DLJXLOOH
$YH]YRXV HQILOp FRUUHFWHPHQW OD PDFKLQH "
9pULILH] O
HQILODJH GH OD PDFKLQH
/
DLJXLOOH Q
HVWHOOH SDV WURS SHWLWH SRXU OH ILO "
9HLOOH] j FH TXH O
DLJXLOOH VRLW DGDSWpH DX ILO HW DX WLVVX
1
XWLOLVH]YRXV SDV XQ ILO GH PDXYDLVH TXDOLWp DYHF GHV
Q±XGV RX XQ ILO TXL V
HVW GHVVpFKp "
8WLOLVH] XQ ILO GH PHLOOHXUH TXDOLWp DFKHWp DXSUqV G
XQ
UHYHQGHXU &UpDWLRQV GH PRGHŠ DXWRULVp
8WLOLVH]YRXV XQ SRUWHERELQH DGpTXDW "
3RVH] XQ SRUWHERELQH GH OD ERQQH WDLOOH SRXU OD ERELQH
GH ILO
/H WURX GH OD SODTXH j DLJXLOOH HVWLO DEvPp "
&KDQJH] OD SODTXH j DLJXLOOH
(QWUHWLHQ
/H ILO GH FDQHWWH VH FDVVH
$YH]YRXV FRUUHFWHPHQW LQVpUp OD FDQHWWH "
9pULILH] OH ILO GH OD FDQHWWH
/H WURX GH OD SODTXH j DLJXLOOH HVWLO DEvPp "
&KDQJH] OD SODTXH j DLJXLOOH
/H FRPSDUWLPHQW GH FDQHWWH HVWLO SURSUH "
1HWWR\H] OHV SHOXFKHV TXL VH IRUPHQW GDQV OH
FRPSDUWLPHQW GH FDQHWWH
/D FDQHWWH HVWHOOH FRUUHFWHPHQW ERELQpH "
%RELQH] XQH QRXYHOOH FDQHWWH
6SpFLILFDWLRQ WHFKQLTXH
0DFKLQH j FRXGUH
7HQVLRQ QRPLQDOH
9 a +]
&RQVRPPDWLRQ QRPLQDOH
:
eFODLUDJH
/('
9LWHVVH GH FRXWXUH
SRLQWVPLQXWH PD[LPXP
'LPHQVLRQV GH OD PDFKLQH /RQJXHXU PP
/DUJHXU PP
+DXWHXU PP
3RLGV QHW NJ
3pGDOH
0RGqOH
&
7HQVLRQ QRPLQDOH
&& 9 PD[ P$
‡ /HV VSpFLILFDWLRQV WHFKQLTXHV HW FH PDQXHO GH
O
XWLOLVDWHXU SHXYHQW rWUH PRGLILpV VDQV SUpDYLV
1RXV QRXV UpVHUYRQV OH GURLW GH PRGLILHU O
pTXLSHPHQW GH OD PDFKLQH HW OH MHX
G
DFFHVVRLUHV VDQV SUpDYLV DLQVL TXH OHV SHUIRUPDQFHV RX OD FRQFHSWLRQ &HV
pYHQWXHOOHV PRGLILFDWLRQV VHURQW WRXMRXUV DSSRUWpHV DX EpQpILFH GH O
XWLOLVDWHXU HW GX
SURGXLW
35235,e7e ,17(//(&78(//(
3)$)) HW 60$57(5 %< 3)$)) VRQW GHV PDUTXHV GpSRVpHV GH .6,1 /X[HPERXUJ ,,
6DUO
9HXLOOH] QRWHU TX
HQ FDV GH PLVH DX UHEXW FH SURGXLW GRLW EpQpILFLHU
G
XQ UHF\FODJH VpFXULVp FRQIRUPH j OD OpJLVODWLRQ QDWLRQDOH DSSOLFDEOH
DX[ SURGXLWV pOHFWULTXHVpOHFWURQLTXHV 1H MHWH] SDV OHV DSSDUHLOV
pOHFWULTXHV DYHF OHV RUGXUHV PXQLFLSDOHV JpQpUDOHV XWLOLVH] GHV FHQWUHV
GH FROOHFWH SUpYXV j FHWWH ILQ &RQWDFWH] YRWUH JRXYHUQHPHQW ORFDO SRXU
REWHQLU GHV LQIRUPDWLRQV DX VXMHW GHV V\VWqPHV GH FROOHFWH GLVSRQLEOHV
/RUVTXH YRXV UHPSODFH] XQ DQFLHQ DSSDUHLO SDU XQ QRXYHDX OH
GLVWULEXWHXU SHXW rWUH OpJDOHPHQW REOLJp GH UHSUHQGUH YRWUH DQFLHQ
DSSDUHLO SRXU OH PHWWUH DX UHEXW VDQV IUDLV
/H GpS{W G
DSSDUHLOV pOHFWULTXHV GDQV XQH GpFKDUJH PXQLFLSDOH
SUpVHQWH OH ULVTXH GH IXLWH GH VXEVWDQFHV GDQJHUHXVHV GDQV OHV QDSSHV
SKUpDWLTXHV TXL SHXYHQW HQVXLWH V
LQWURGXLUH GDQV OD FKDvQH
DOLPHQWDLUH GHYHQDQW DLQVL XQ ULVTXH SRXU YRWUH VDQWp HW YRWUH ELHQ
rWUH
&( $XWKRULVHG 5HSUHVHQWDWLYH
960 *5283 $% 693 :RUOGZLGH
'URWWQLQJJDWDQ 6( +XVNYDUQD 6:('(1
$ ă ,QKRXVH 㠋 .6,1 /X[HPERXUJ ,, 6DUO ă $OO ULJKWV UHVHUYHG ă 3ULQWHG LQ *HUPDQ\ RQ HQYLURPHQWDO IULHQGO\ SDSHU
ZZZSIDIIFRP