Gaggenau Tarifs 2021 PDF
Gaggenau Tarifs 2021 PDF
(GLWLRQ
*DJJHQDXSURSRVHGHVSURGXLWVG¶H[FHSWLRQ
GHSDUOHXU=QLWLRQSDUIDLWHOHXUWHFKQRORJLH
LQQRYDQWHHWOHXUGHVLJQPLQLPDOLVWH
)RXUVIRXUVYDSHXUFRPELYDSHXUWLURLUVRXVYLGH
PDFKLQHVjFDIp9DULRHWWDEOHVGHFXLVVRQ
KRWWHVODYHYDLVVHOOHRXHQFRUHDSSDUHLOVGpGLpV
DXIURLGWRXVUpSRQGHQWDXQLYHDXG¶H[LJHQFH
GHVSURIHVVLRQQHOVDXSUR=WGHVSDUWLFXOLHUV
)DLVDQWDSSHOjGHVPDWpULDX[QREOHVWHOVTXHOH
YHUUHO·LQR[RXHQFRUHO·DOXPLQLXPFKDTXHDSSDUHLO
HVWWUDYDLOOpGDQVOHVPRLQGUHVGpWDLOVHWH[SULPHOHV
YDOHXUVGHODPDUTXH
3DUIDLWVGDQVODIRQFWLRQWRXVVRQWVLPSOHV
jXWLOLVHUHWRWUHQWXQGHVLJQXQLTXH
*DJJHQDXODGLWpUHQFH
Four EB 333 2
Vario de cuisson 88
)RXU(%
(%
$FFHVVRLUHV(%
'RQQpHVWHFKQLTXHV(%
)RXU6pULH ,QWpJUDWLRQGDQVOHUpVHDX
(% GRPHVWLTXHSRXUVHUYLFHVGLJLWDX[
+RPH&RQQHFWYLDXQFkEOH/$1
² 3RUWHDEDWWDQWHG
XQHVHXOHSLqFH UHFRPPDQGpRXXQHFRQQH[LRQ:L)L
DYHFSDQQHDXIURQWDOHQLQR[PDVVLI /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
G
XQHpSDLVVHXUGHPPWUDYDLOOp &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
DYHFSUpFLVLRQ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
² 6\VWqPHG
RXYHUWXUHHWGH SD\VUHVSHFWLI/HVVHUYLFHV+RPH
IHUPHWXUHGHSRUWHVRXSOHHWHQ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
(% ࡱ GRXFHXU WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
,QR[ ࡱ+7 ² 3RVLWLRQQHPHQWHQGLDJRQDOH KRPHFRQQHFWFRP
+RPH&RQQHFW GHVODPSHVSRXUXQpFODLUDJH
/DUJHXUFP RSWLPDOGHO
HQFHLQWHGHFXLVVRQ 6pFXULWp
² $XWRQHWWR\DJHS\URO\VH 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
/HSUL[FRPSUHQG ² PRGHVGHFXLVVRQDYHFVRQGH 6pFXULWpHQIDQWV
W{OHjSkWLVVHULHpPDLOOpHS\URO\VDEOH WKHUPRPpWULTXHWRXUQHEURFKHHW &RXSXUHGHVpFXULWp
WRXUQHEURFKH IRQFWLRQSLHUUHjSDLQHWjSL]]DV 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
JULOOH ² 3URJUDPPHVDXWRPDWLTXHV UHIURLGLVVHPHQWGHO
DSSDUHLO
OqFKHIULWHDYHFJULOOH ² 6RQGHWKHUPRPpWULTXHDYHFHVWLPD
VRQGHWKHUPRPpWULTXHDPRYLEOH WLRQGXWHPSVGHFXLVVRQ 1HWWR\DJH
² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH $XWRQHWWR\DJHSDUS\URO\VH
$FFHVVRLUHVHQRSWLRQ URWDWLIGDQVOHVGHX[VHQVSRXUXQH (PDLOEOHX*DJJHQDX
%$ ࡱ UpSDUWLWLRQLGpDOHGHODFKDOHXU &DWDO\VHXUpOHFWULTXHGHIXPpHV
%RXWRQVQRLUV ࡱ+7 ² (FUDQ7)7VHQVLWLI SXULILDQWO
DLUUHMHWp
SRXU(% ² $SSDUHLOVDQVEDQGHDXGH
6HWGH FRPPDQGHDYHFPRGXOHGH &RQVHLOVG
LQVWDOODWLRQ
%$ ࡱ FRPPDQGHVLWXpGHUULqUHODYLWUH 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
5DLOWpOHVFRSLTXH ࡱ+7 ² 5pJODJHpOHFWURQLTXHGHOD ODYLWUHDYDQWGXIRXUPP
&DGUHVXSSRUWHQIRQWHS\URO\VDEOHHW WHPSpUDWXUHGH&j& 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
V\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH ² 9ROXPHXWLOHOLWUHV O
H[WpULHXUGHODSRLJQpHPP
%$ ࡱ ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ 3RXUXQHLQVWDOODWLRQVRXVSODQVRXVOD
7{OHjSkWLVVHULH ࡱ+7 WDEOHGHFXLVVRQUHVSHFWHUXQH
pPDLOOpH 0RGHVGHFXLVVRQ GLVWDQFHPLQLGHPPHQWUHOH
PPGHSURIRQG &KDOHXUWRXUQDQWH GHVVRXVGHODWDEOHGHFXLVVRQHWOH
%$ ࡱ &KDOHXUWRXUQDQWH(FR GHVVXVGXIRXU5HVSHFWHUOHV
*ULOOHFKURPpH ࡱ+7 9RWH6ROH SUpFRQLVDWLRQVG
LQVWDOODWLRQGHVWDEOHV
6DQVRXYHUWXUHDYHFSLHGV 9RWH6ROH GHFXLVVRQQRWDPPHQWOHVLQVWUXFWLRQV
%$ ࡱ 9RWH GHYHQWLODWLRQHWGHUDFFRUGHPHQWJD]
5pVLVWDQFHSRXU ࡱ+7 9RWH6ROH pOHFWULTXH
SLHUUHjSDLQHWjSL]]DVHWIDLWRXW 6ROH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
HQIRQWH &KDOHXUWRXUQDQWH6ROH GHPPSRVLWLRQQHUOHFkEOHGH
%$ ࡱ &KDOHXUWRXUQDQWH6ROH UDFFRUGHPHQWGDQVO
DQJOHGH
3LHUUHjSDLQHWj ࡱ+7 *ULOJUDQGHVXUIDFH$LUYHQWLOp O
DSSDUHLO
SL]]DV *ULOJUDQGHVXUIDFH /DSULVHGRLWrWUHSUpYXHHQGHKRUV
&RPSUHQGVXSSRUWHWXQHSHOOH &RPSDFW*ULO GHODQLFKH
jSL]]DFRPPDQGHUODUpVLVWDQFH &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
VpSDUpPHQW &XLVVRQGDQVIDLWRXWHQIRQWH GHO
DSSDUHLOHQKDXWjJDXFKH
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH (WXYH
GHUDLOWpOHVFRSLTXH 'pFRQJpODWLRQ 9DOHXUVGHUDFFRUGHPHQW
%6 ࡱ 0DLQWLHQDXFKDXG &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
3HOOHjSL]]DVHWGH ࡱ+7 XQHFODVVLILFDWLRQGH$j'
*1 ࡱ %DQGHDXGHFRPPDQGH 3XLVVDQFHWRWDOHN:
)DLWRXW*DVWUR1RUP ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIV 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
HQIRQWHG
DOXPLQLXP HWpFUDQ7)7VHQVLWLI 3UpYRLUXQFkEOH/$1
*1KDXWHXUPPDQWLDGKpUHQW $IILFKDJHWH[WHFODLU
0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
LQFOXDQWODVRQGHWKHUPRPpWULTXH
DYHFHVWLPDWLRQGXWHPSVGHFXLVVRQ
3HUVRQQDOLVDWLRQGHVSURJUDPPHV
DXWRPDWLTXHV
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
3RUWHDEDWWDQWHDYHFDQJOHG
RXYHUWXUH
j
&DUDFWpULVWLTXHV
6RQGHWKHUPRPpWULTXHSRLQWVGH
PHVXUHDYHFDUUrWDXWRPDWLTXHHW
HVWLPDWLRQGXWHPSVGHFXLVVRQ
3URJUDPPHVDXWRPDWLTXHV
7RXUQHEURFKH
3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
7KHUPRWHVW$IILFKDJHGHOD
WHPSpUDWXUHUpHOOH
3UpFKDXIIDJHUDSLGH
)RQFWLRQVGXSURJUDPPDWHXUGXUpH
GHODFXLVVRQILQGHODFXLVVRQ
PLQXWHULHFKURQRPqWUHPLQXWHULH
VSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHKDORJqQHYRWH:
(FODLUDJHKDORJqQHODWpUDO[:
6XSSRUWVODWpUDX[pPDLOOpV
S\URO\VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$FFHVVRLUHV)RXU(% )RXUV6pULH
1RWLILFDWLRQWRXVOHVDFFHVVRLUHVQHV
DGDSWHQWSDVjWRXVOHVIRXUV
3RXUSOXVG
LQIRUPDWLRQYRLUWDEOHDXSDJH
%$ ࡱ
%RXWRQVHQLQR[ ࡱ+7
DYHFUHYrWHPHQWQRLUSRXU(%
6HWGH
5pIpUHQFHV 5pIpUHQFHV
(%
RQOLQH
%RXWRQURWDWLI )RXU
%$ %RXWRQVLQR[DYHFUHYrWHPHQWQRLU
3ODTXHGHFXLVVRQpPDLOOpH
%$ SURIRQGHXUPP
5DLOWpOHVFRSLTXH
%$ UDLOWpOHVFRSLTXHVRUWLHWRWDOHSRXUIRXUS\URO\VH
3LHUUHjSDLQHWjSL]]DV
%$ FRPSUHQDQWVXSSRUWHWSHOOHUpVLVWDQFHjFRPPDQGHUVpSDUpPHQW
)DLWRXWHQIRQWHG
DOXPLQXP
*1 *1òࡕKDXWHXUPPUHYrWHPHQWDQWLDGKpUHQW
SHXWVHSRVLWLRQQHUDXVVLELHQGDQVOHIRXUDYHFUDLOWpOHVFRSLTXH%$%$
DYHFpOpPHQWGHFKDXWH%$RX%$UpVLVWDQFHjFRPPDQGHU
VpSDUHPHQWTXHGDQVOHIRXUFRPELQpYDSHXUDYHFDGDSWDWHXU*1HWUDLO
WpOHVFRSLTXH%$
*ULOOH
%$ VDQVRXYHUWXUHDYHFSLHGV
1R JULOOHSRXUOqFKHIULWH(71UDYHFRXYHUWXUHHWSLHGV
/qFKHIULWH
1R DYHFSLHGVHW=[DWLRQVSRXUWRXUQHEURFKHSURIRQGHXUPP
5pVLVWDQFH
%$ DFFHVVRLUHQpFHVVDLUHSRXUODSLHUUHjSDLQHWjSL]]D%$
3HOOHjSL]]DV
%6 VHWGH
(TXLSHPHQWGHVpULH
$FFHVVRLUHVSpFLDO
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
)RXU(% )RXUV6pULH
7\SHG
DSSDUHLO )RXU
$FLHULQR[ (%
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[
3RLGVQHW NJ
9ROXPH(IILFLHQFHpQHUJpWLTXHVHORQQRUPH(8(1HW
9ROXPHXWLOH O
1RPEUHGH]RQHGHFXLVVRQ
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[
&ODVVHG
pZFLHQFHpQHUJpWLTXHHQ&KDOHXU7RXUQDQWH(FR $
,QGH[(ZFLHQFH(QHUJpWLTXH((,
&RQVRPPDWLRQ6ROH9RWH N:K
&RQVRPPDWLRQ&KDOHXU7RXUQDQWH(FR N:K
6RXUFHG
pQHUJLH pOHFWULTXH
0RGHVGHFXLVVRQ
3ODJHGHWHPSpUDWXUH & ²
&KDOHXU7RXUQDQWH&KDOHXU7RXUQDQWH(FR9RWH6ROH
9RWH6ROH&KDOHXU7RXUQDQWH6ROH
9RWH6ROH
9RWH6ROH
&KDOHXU7RXUQDQWH6ROH
*ULOJUDQGHVXUIDFH$LUYHQWLOp
*ULOJUDQGHVXUIDFH
*ULO(FR
&XLVVRQVXUSLHUUHjSDLQHWjSL]]DV
&XLVVRQ)DLWRXW
(WXYH'pFRQJpODWLRQ0DLQWLHQDXFKDXG
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWFHQWUDOEDV ²²
2XYHUWXUHGHSRUWHDXWRPDWLTXH ²
$ZFKDJHWH[WHFODLU QEGHODQJXHV
5HFHWWHVSHUVRQQHOOHV
$QJOHG
RXYHUWXUHGHSRUWH
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
6RQGHWKHUPRPqWULTXHDPRYLEOHSRLQWVGHPHVXUH
3URJUDPPHVDXWRPDWLTXHV
7RXUQHEURFKH
3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
)RQFWLRQ)DLWRXW
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
3UpFKDXWDJHUDSLGH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHKDORJqQH9RWH :
(FODLUDJHKDORJqQH/DWpUDO : [
1LYHDX[GHFXLVVRQ QE
+RPH&RQQHFWYLD/$1RX:,), ó
$FFHVVRLUHV
7{OHjSDWLVVHULH
7DLOOHGHODSOXVJUDQGHW{OHGHFXLVVRQ FPò
*ULOOH
/qFKHIULWHpPDLOOp*ULOOHSRXUOqFKHIULWH
/qFKHIULWHHQYHUUH ²
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHSOXVLHXUVYLWUHV YLWUHV
6pFXULWpHQIDQW9HUURXLOODJHGHSRUWH&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
$XWRQHWWR\DJHSDUS\URO\VH
(PDLOEOHX*DJJHQDX
&DUDO\VHXUpOHFWULTXHGHIXPpHSXUL=DQWO
DLUUHMHWp
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
ò$FFHVVRLUHVHQRSWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)RXUV6pULH
)RXUV6pULH
9XHG·HQVHPEOHGHVFRPELQDLVRQVG·DSSDUHLOVGHOD6pULH
&RQVHLOVG·LQVWDOODWLRQSRXUO·LQWpJUDWLRQGHVIRXUV
HWFRPELQDLVRQVGHIRXUVGHOD6pULHHW6pULH
)RXUV6pULH
)RXUVFRPELYDSHXU6pULH
)RXUVPLFURRQGHVFRPELQpV6pULH
0DFKLQHVjFDIpH[SUHVVRWRXWDXWRPDWLTXH6pULH
7LURLUV6RXV9LGH6pULH
7LURLUVFKDXIIDQWV6pULH
$FFHVVRLUHV6pULH
'RQQpHVWHFKQLTXHV6pULH
9XHG·HQVHPEOHGHVFRPELQDLVRQVG·DSSDUHLOV6pULH
&RPELQDLVRQVG
DSSDUHLOVHQFRORQQHODUJHXUFP
&LFRQWUHOHVSULQFLSDOHV
FRPELQDLVRQVSHUPHWWDQWXQH
FRPELQDLVRQSDUIDLWHGHVIRXUVIRXUV &RPELQDLVRQVG
DSSDUHLOVHQFDUUpODUJHXUFP
FRPELYDSHXUIRXUVPLFURRQGHV
FRPELQpVPDFKLQHVjFDIpWLURLUV
6RXV9LGHWLURLUVFKDXIIDQWV
HWODYHYDLVVHOOH
,QGLFDWLRQVJpQpUDOHV
7RXVOHVDSSDUHLOVSUpVHQWpVVRQW
GLVSRQLEOHVHQSRUWHSOHLQYHUUH
VXULQR[
(QFDVGHSOXVLHXUVDOWHUQDWLYHV
%6%0HW'9:6ODSKRWR
FRUUHVSRQGjODqUH
UpIpUHQFHFLWpH
&RPELQDLVRQG·DSSDUHLOVF{WHjF{WH
/RUVGHO·LPSODQWDWLRQHWGHODFRP
PDQGHYHLOOHUj
/HVFKDUQLqUHVRSSRVpHVGHV
SRUWHVGHVDSSDUHLOVSHUPHWWHQW
XQHRXYHUWXUHWRWDOHGHVSRUWHVj
/HVFKDUQLqUHVGHODSRUWHQHVRQW
SDVUpYHUVLEOHVFKDUQLqUHVjGURLWH
FKDUQLqUHVjJDXFKH
8QHVSDFHG·DXPLQLPXPPP
HVWQpFHVVDLUHHQWUHOHVSRUWHV
/HVIRXUVFRPELYDSHXUIRXUV %6%6%0 %6%6%0 %6%6%0 %0%6%6
PLFURRQGHVFRPELQpVHWPDFKLQHV
%2%2%2 %2%2%2 %0 &0
jFDIpLQVWDOOpVDXGHVVXVG·XQ
:6 :6 '9:6 :6'9
WLURLU6RXV9LGHRXXQWLURLU
FKDXIIDQWKDXWHXUFPRQW
ODPrPHKDXWHXUTX·XQIRXUGH
ODUJHXUFP
/HVPRGXOHVGHFRPPDQGHGHV
DSSDUHLOVLQVWDOOpVF{WHjF{WH
GRLYHQWrWUHDOLJQpVVRLWHQKDXW
VRLWHQEDV
%2)RXU
%6)RXUFRPELYDSHXU
%0)RXUPLFURRQGHVFRPELQp
&00DFKLQHjFDIpWRXWDXWRPDWLTXH
'9 7LURLU6RXV9LGH
:67LURLUFKDXIIDQW
')/DYHYDLVVHOOH
%2%2%2 %6%6%0 &0
') ') ')
)RXUV6pULH
&RPELQDLVRQVG
DSSDUHLOVF{WHjF{WHODUJHXUFP
4XDOLWpVXSpULHXUHGDQVOHVPRLQGUHVGpWDLOV
/HVSRUWHVIURLGHVGHQRVIRXUV
VRQWGRWpHVG
XQTXDGUXSOH
YLWUDJHF·HVWSRXUQRXVXQ
pOpPHQWHVVHQWLHO(QHIIHW
QRXVFRQFHYRQVQRVDSSDUHLOV
GHWHOOHVRUWHTXHO·HVVHQWLHO
GHODFKDOHXUVHUpIOpFKLVVH
jO
LQWpULHXUGXIRXU$XVVLOD
WHPSpUDWXUHPD[LPDOHUHVVHQWLH
DXQLYHDXGHODSRUWHQH
GpSDVVHSDV&PrPH
ORUVGHODS\URO\VHROD
WHPSpUDWXUHDWWHLQW&
jO
LQWpULHXUGXIRXU3RXU
FHODOHFKRL[PLQXWLHX[GHV
PDWpULDX[HWOHSURFpGpGH
IDEULFDWLRQVRQWGpFLVLIV
9XHG·HQVHPEOHGHVFRPELQDLVRQVG·DSSDUHLOV6pULH
&RPELQDLVRQVG
DSSDUHLOVHQFRORQQHODUJHXUFP
&LFRQWUHOHVSULQFLSDOHV
FRPELQDLVRQVSHUPHWWDQWXQH
FRPELQDLVRQSDUIDLWHGHVIRXUVIRXUV
FRPELYDSHXUIRXUVPLFURRQGHV
FRPELQpVPDFKLQHVjFDIpWLURLUV
6RXV9LGHWLURLUVFKDXIIDQWV
HWODYHYDLVVHOOH
,QGLFDWLRQVJpQpUDOHV
7RXVOHVDSSDUHLOVSUpVHQWpVVRQW
GLVSRQLEOHVHQSRUWHSOHLQYHUUH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX
(QFDVGHSOXVLHXUVDOWHUQDWLYHV
%6%0HW'9:6ODSKRWR
FRUUHVSRQGjODqUHUpIpUHQFHFLWpH
&RPELQDLVRQG·DSSDUHLOV
HQFRORQQH
/RUVGHO·LPSODQWDWLRQHWGHOD %6%0 %0%6 %6%0 %0%6
FRPPDQGHYHLOOHUj %2%2 %2%2 %0 &0
:6 :6 '9:6 :6'9
/HVHQVG·RXYHUWXUHGHODSRUWH
GRLWrWUHLGHQWLTXH
/HVFKDUQLqUHVGHODSRUWHQHVRQW
SDVUpYHUVLEOHVFKDUQLqUHVjGURLWH
FKDUQLqUHVjJDXFKH
/DODUJHXUGHVDSSDUHLOVGRLWrWUH
LGHQWLTXH
/HVPRGXOHVGHFRPPDQGHGH
DSSDUHLOVVXSHUSRVpVGRLYHQWrWUH
SRVLWLRQQpVDXPLOLHX
$XFXQDSSDUHLOQHSHXWrWUH
LQVWDOOpDXGHVVXVG·XQ%6
$XGHVVXVG·XQ')LQVWDOOHU
XQLTXHPHQWXQDSSDUHLODYHF
PRGXOHGHFRPPDQGHKDXW
/HVDSSDUHLOVLQVWDOOpVDXGHVVXV
GX')QpFHVVLWHQWXQHQLFKHGH
ODUJHXUFP/DODUJHXUGHOD
%2%2 %6%0 &0
QLFKHGXODYHYDLVVHOOHHVWGH
') ') ')
FP
&RPELQDLVRQG·DSSDUHLOVF{WHjF{WH
/RUVGHO·LPSODQWDWLRQHWGHODFRP
PDQGHYHLOOHUj
/HVFKDUQLqUHVRSSRVpHVGHV
SRUWHVGHVDSSDUHLOVSHUPHWWHQW
XQHRXYHUWXUHWRWDOHGHVSRUWHVj
/HVFKDUQLqUHVGHODSRUWHQHVRQW
SDVUpYHUVLEOHVFKDUQLqUHVjGURLWH
FKDUQLqUHVjJDXFKH
8QHVSDFHG·DXPLQLPXPPP
HVWQpFHVVDLUHHQWUHOHVSRUWHV
/HVIRXUVFRPELYDSHXUIRXUV
PLFURRQGHVFRPELQpVHWPDFKLQHV
jFDIpLQVWDOOpVDXGHVVXVG·XQ
WLURLU6RXV9LGHRXXQWLURLU
FKDXIIDQWKDXWHXUFPRQW
ODPrPHKDXWHXUTX·XQIRXUGH
ODUJHXUFP
/HVPRGXOHVGHFRPPDQGHVGHV
DSSDUHLOVLQVWDOOpVF{WHjF{WH
GRLYHQWrWUHDOLJQpVVRLWHQKDXW
VRLWHQEDV
%2)RXU
%6)RXUFRPELYDSHXU
%0)RXUPLFURRQGHVFRPELQp
&00DFKLQHjFDIpWRXWDXWRPDWLTXH
'97LURLU6RXV9LGH
:67LURLUFKDXIIDQW
')/DYHYDLVVHOOH
)RXUV6pULH
&RPELQDLVRQVG
DSSDUHLOVF{WHjF{WHODUJHXUFP
&RPELQDLVRQVG
DSSDUHLOVHQFDUUpDYHFWLURLUFKDXIIDQWODUJHXUFP
%6%0 %0%6
%2%2 &0
'9:6
&RQVHLOVG¶LQVWDOODWLRQSRXUO¶LQWpJUDWLRQGHVIRXUVHWFRPELQDLVRQVGHIRXUV6pULHHW6pULH
3RXUXQHFRPELQDLVRQGHIRXUVHW
G·DSSDUHLOVGHIURLG9DULR6pULHVH
UpIpUHUDX[FRQVHLOVG·LQVWDOODWLRQGDQV
ODUXEULTXH)URLG9DULR6pULHSRXU
pYLWHUXQHFROOLVLRQHQWUHODSRUWHGH
O·DSSDUHLOGHIURLGHWOHIRXU
,QWpJUDWLRQF{WHjF{WH
'DQVOHFDVG·XQHLQWpJUDWLRQ
G·DSSDUHLOVF{WHjF{WHLOIDXWDEVROX
PHQWUHVSHFWHUXQHGLVWDQFHPLQLPXP
GHPPHQWUHOHVDSSDUHLOVFHFL
HVWYDODEOHSRXUWRXVOHVDSSDUHLOVGH
F{WHVVWDQGDUGGHjPP
/HVFKDUQLqUHVGHODSRUWHGRLYHQWVH
VLWXHUjO
H[WpULHXUSRXUSHUPHWWUHXQH
RXYHUWXUHPD[LPDOHGHODSRUWHRXGH
O
DQJOHG
RXYHUWXUHGHODSRUWH
)HQWHVG·DpUDWLRQWUDQVYHUVDOHV /HVIRXUV*DJJHQDXGHOD6pULH
QpFHVVDLUHVHQKDXWHWHQEDV QpFHVVLWHQWXQHYHQWLODWLRQSDUDSSRUW
GHODSRUWH G·DLUIUDLVDXQLYHDXGHODSDUWLH
VXSpULHXUHHWVXUOHVF{WpVGHODSRUWH
GHO·DSSDUHLO
/·DLUFKDXGHVWpYDFXpDXQLYHDXGH
O·DUrWHLQIpULHXUHGHODSRUWHGXIRXU
/HVHQWUpHVG
DLUGHVIRXUVYDSHXUV
HWIRXUVFRPELQpVPLFURRQGHVVH
VLWXHQWVXUOHVF{WpVGHODSRUWHHWOHV
DpUDWLRQVSRXUpYDFXHUO·DLUFKDXGHWOH
VXUSOXVGHYDSHXUDXQLYHDXGHO·DUrWH
VXSpULHXUHGHODSRUWH
3RXUpYLWHUXQHVXUFKDXIIHGHV
DSSDUHLOVHWSHUPHWWUHOHUHIURLGLVVHPHQW
DSUqVXWLOLVDWLRQLOIDXWUHVSHFWHUOHV
GpFRXSHVWUDQVYHUVDOHVPLQLPDOHVDX
QLYHDXGHVDUrWHVGHVPHXEOHV
%2%;%6
%0&0:6'9
/DPHVXUHGXVFKpPDHVWYDODEOHSRXU
WRXVOHVDSSDUHLOV
&HSHQGDQWLOIDXWIDLUHDWWHQWLRQ
$XGHVVXVGHVDSSDUHLOV
%6
,OQHIDXWSDVLQVWDOOHUG
DSSDUHLO
pOHFWULTXHDXGHVVXVG
XQ%6,OHVW
pJDOHPHQWUHFRPPDQGpGHQHSDV
LQVWDOOHUGHSRLJQpHKRUL]RQWDOHVXU
ODSRUWHPHXEOHDXGHVVXVGX%6
'DQVOHFDVG·XQHpSDLVVHXUGHSRUWH
PHXEOHVXSpULHXUHjPPLOIDXW
SURWpJHUO·DUrWHGHODSRUWHFRQWUH
O·KXPLGLWpFDUODYDSHXUSHXWpYHQWX
HOOHPHQWV·LQILOWUHUGDQVOHFDLVVRQ
PHXEOH
6RXVOHVDSSDUHLOV
'9:6
3RXUOHWLURLUFKDXIIDQWLOIDXWYHLOOHU
jQHSDVGpSDVVHUXQHpSDLVVHXUGH
SRUWHPHXEOHVXSpULHXUHjPPSRXU
SHUPHWWUHXQHERQQHSULVHORUVGH
O
RXYHUWXUHGXWLURLU
)RXUV6pULH
/DWpUDOHPHQW 'pJDJHPHQWDXQLYHDXGHODSRUWH
3RXUGHVpSDLVVHXUVGHSRUWHVGH
PHXEOHVSOXVLPSRUWDQWHVRXSRXUGHV
SDURLVODWpUDOHVHQVDLOOLHMXVTX·j
PPSDUUDSSRUWjO
DYDQWGHOD
QLFKHODGLVWDQFHPLQLPDOHGXF{Wp
GHVFKDUQLqUHVHVWVXIILVDQWHSRXU
O·DSSRUWG·DLUIUDLVHWO
RXYHUWXUHGH
SRUWHj
8QHGLVWDQFHG·DXPLQLPXPPP
HVWQpFHVVDLUH
8QHSDURLODWpUDOHSHXWGpERUGHUVXUOH
F{WpGHODSRLJQpHVLOD
GLVWDQFHPLQLPDOHHVWUHVSHFWpH
)RXUGRXEOH6pULH &RQVHLOVG
LQVWDOODWLRQ
%; %; &KDUQLqUHVQRQUpYHUVLEOHV
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
² $XWRQHWWR\DJHS\URO\VH ODYLWUHDYDQWGXIRXUPP
² PRGHVGHFXLVVRQDYHFVRQGH 7HQLUFRPSWHGXGpERUGHPHQWSRXU
WKHUPRPpWULTXHWRXUQHEURFKHHW O
RXYHUWXUHGHWLURLUVODWpUDX[
IRQFWLRQSLHUUHjSDLQHWjSL]]DV (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
² (FUDQ7)7VHQVLWLI SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
² 6RQGHWKHUPRPpWULTXHDYHF SRUWHGHPLQLPXP
HVWLPDWLRQGXWHPSVGHFXLVVRQ 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
² 5pJXODWLRQpOHFWURQLTXHGHOD GHPPOHFkEOHGHUDFFRUGHPHQW
WHPSpUDWXUHGH&j& GRLWrWUHRULHQWpYHUVOHEDVHWSDVVHU
² 9ROXPHXWLOH[OLWUHV SDUOHFRLQELVHDXWpjO
DUULqUHGURLWGH
² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ O
DSSDUHLO
/DSULVHGHUDFFRUGHPHQWGRLWrWUH
0RGHVGHFXLVVRQ SODFpHHQGHKRUVGHODQLFKH
&KDOHXUWRXUQDQWH G
HQFDVWUHPHQW
&KDOHXUWRXUQDQWH(FR
9RWH6ROH &RQVHLOVG
LQVWDOODWLRQSRXU
9RWH6ROH O
LQWpJUDWLRQHQSDJHV
9RWH
9RWH6ROH 9DOHXUVGHUDFFRUGHPHQW
6ROH &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
&KDOHXUWRXUQDQWH6ROH XQHFODVVLILFDWLRQGH$j'
&KDOHXUWRXUQDQWH6ROH 3XLVVDQFHWRWDOHN:
*ULOJUDQGHVXUIDFH$LUYHQWLOp 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
0RGXOHGHFRPPDQGHFHQWUDO *ULOJUDQGHVXUIDFH
&KDUQLqUHVjGURLWH &RPSDFW*ULO
%; ࡱ &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV
3RUWHSOHLQYHUUHVXU ࡱ+7 &XLVVRQGDQVIDLWRXWHQIRQWH
LQR[ (WXYH
/DUJHXUFP 'pFRQJpODWLRQ
0DLQWLHQDXFKDXG
&KDUQLqUHVjJDXFKH
%; ࡱ %DQGHDXGHFRPPDQGH
3RUWHSOHLQYHUUHVXU ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIVHW
LQR[ pFUDQ7)7VHQVLWLI
/DUJHXUFP $IILFKDJHWH[WHFODLU
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/HSUL[FRPSUHQG 3RUWHjRXYHUWXUHODWpUDOH
VRQGHWKHUPRPpWULTXHDPRYLEOH
W{OHVjSkWLVVHULH &DUDFWpULVWLTXHV
WRXUQHEURFKH 6RQGHWKHUPRPpWULTXHSRLQWVGH
JULOOHV PHVXUHDYHFDUUrWDXWRPDWLTXHHW
OqFKHIULWHVDYHFJULOOH HVWLPDWLRQGXWHPSVGHFXLVVRQ
7RXUQHEURFKHIRXUGXEDV
$FFHVVRLUHVHQRSWLRQ 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
%$ ࡱ 7KHUPRWHVW$IILFKDJHGHOD
5DLOWpOHVFRSLTXH ࡱ+7 WHPSpUDWXUHUpHOOH
&DGUHVXSSRUWHQIRQWHS\URO\VDEOH 3UpFKDXIIDJHUDSLGH
HWV\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH )RQFWLRQVGXSURJUDPPDWHXUGXUpH
%$ ࡱ GHODFXLVVRQILQGHODFXLVVRQ
7{OHjSkWLVVHULH ࡱ+7 PLQXWHULHFKURQRPqWUHPLQXWHULH
pPDLOOpH VSpFLDOHFXLVVRQORQJXHGXUpH
PPGHSURIRQG (FODLUDJHKDORJqQHYRWH:
%$ ࡱ (FODLUDJHKDORJqQHODWpUDO:
*ULOOHFKURPpH ࡱ+7 6XSSRUWVODWpUDX[pPDLOOpVS\URO\
6DQVRXYHUWXUHDYHFSLHGV VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
%$ ࡱ
5pVLVWDQFHSRXU ࡱ+7 6pFXULWp
SLHUUHjSDLQHWjSL]]DVHWIDLWRXW 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
HQIRQWH 6pFXULWpHQIDQWV
%$ ࡱ &RXSXUHGHVpFXULWp
3LHUUHjSDLQHWj ࡱ+7 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
SL]]DV UHIURLGLVVHPHQWGHO
DSSDUHLO
&RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D
FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW 1HWWR\DJH
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH $XWRQHWWR\DJHSDUS\URO\VH
GHUDLOWpOHVFRSLTXH (PDLOEOHX*DJJHQDX
%6 ࡱ &DWDO\VHXUpOHFWULTXHGHIXPpHV
3HOOHjSL]]DVHWGH ࡱ+7 SXULILDQWO
DLUUHMHWp
*1 ࡱ
)DLWRXW*DVWUR1RUP ࡱ+7
HQIRQWHG
DOXPLQLXP
*1KDXWHXUPPDQWLDGKpUHQW
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXU6pULH 6pFXULWp
%2 %2 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
6pFXULWpHQIDQWV
² 3RUWHVDQVSRLJQpHRXYHUWXUH &RXSXUHGHVpFXULWp
DXWRPDWLTXH 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
² $XWRQHWWR\DJHS\URO\VH UHIURLGLVVHPHQWGHO
DSSDUHLO
² PRGHVGHFXLVVRQDYHFVRQGH
WKHUPRPpWULTXHWRXUQHEURFKHHW 1HWWR\DJH
IRQFWLRQSLHUUHjSDLQHWjSL]]DV $XWRQHWWR\DJHSDUS\URO\VH
² 3URJUDPPHVDXWRPDWLTXHV (PDLOEOHX*DJJHQDX
² 6RQGHWKHUPRPpWULTXHDYHF &DWDO\VHXUpOHFWULTXHGHIXPpHV
HVWLPDWLRQGXWHPSVGHFXLVVRQ SXULILDQWO
DLUUHMHWp
² (FUDQ7)7VHQVLWLI
² $SSDUHLOVDQVEDQGHDXGH &RQVHLOVG
LQVWDOODWLRQ
0RGXOHGHFRPPDQGHKDXW FRPPDQGHDYHFPRGXOHGH &KDUQLqUHVQRQUpYHUVLEOHV
&KDUQLqUHVjGURLWH FRPPDQGHVXUODSRUWHYLWUpH 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
%2 ࡱ ² 5pJXODWLRQpOHFWURQLTXHGHOD ODYLWUHDYDQWGXIRXUPP
3RUWHSOHLQYHUUHVXU ࡱ+7 WHPSpUDWXUHGH&j& 7HQLUFRPSWHGXGpERUGHPHQW
LQR[ ² 9ROXPHXWLOHOLWUHV SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
+RPH&RQQHFW ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
/DUJHXUFP SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
0RGHVGHFXLVVRQ SRUWHGHPLQLPXP
&KDUQLqUHVjJDXFKH &KDOHXUWRXUQDQWH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
%2 ࡱ &KDOHXUWRXUQDQWH(FR GHPPOHFkEOHGHUDFFRUGHPHQW
3RUWHSOHLQYHUUHVXU ࡱ+7 9RWH6ROH GRLWrWUHRULHQWpYHUVOHEDVHWSDVVHU
LQR[ 9RWH6ROH SDUOHFRLQELVHDXWpjO
DUULqUHGURLWGH
+RPH&RQQHFW 9RWH O
DSSDUHLO
/DUJHXUFP 9RWH6ROH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
6ROH SODFpHHQGHKRUVGHODQLFKH
/HSUL[FRPSUHQG &KDOHXUWRXUQDQWH6ROH G
HQFDVWUHPHQW
VRQGHWKHUPRPpWULTXHDPRYLEOH &KDOHXUWRXUQDQWH6ROH /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
W{OHjSkWLVVHULH *ULOJUDQGHVXUIDFH$LUYHQWLOp GHO
DSSDUHLOHQKDXWjGURLWH
WRXUQHEURFKH *ULOJUDQGHVXUIDFH
JULOOH &RPSDFW*ULO &RQVHLOVG
LQVWDOODWLRQSRXU
OqFKHIULWHDYHFJULOOH &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV O
LQWpJUDWLRQHQSDJHV
&XLVVRQGDQVIDLWRXWHQIRQWH
$FFHVVRLUHVHQRSWLRQ (WXYH 9DOHXUVGHUDFFRUGHPHQW
%$ ࡱ 'pFRQJpODWLRQ &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
5DLOWpOHVFRSLTXH ࡱ+7 0DLQWLHQDXFKDXG XQHFODVVLILFDWLRQGH$j'
&DGUHVXSSRUWHQIRQWHS\URO\VDEOH 3XLVVDQFHWRWDOHN:
HWV\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH %DQGHDXGHFRPPDQGH 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
%$ ࡱ 2XYHUWXUHDXWRPDWLTXHGHODSRUWH 3UpYRLUXQFkEOH/$1
7{OHjSkWLVVHULH ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIVHW
pPDLOOpH pFUDQ7)7VHQVLWLI
PPGHSURIRQG $IILFKDJHWH[WHFODLU
%$ ࡱ 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
*ULOOHFKURPpH ࡱ+7 LQFOXDQWODVRQGHWKHUPRPpWULTXH
6DQVRXYHUWXUHDYHFSLHGV 3HUVRQQDOLVDWLRQGHVSURJUDPPHV
%$ ࡱ DXWRPDWLTXHV
5pVLVWDQFHSRXU ࡱ+7 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
SLHUUHjSDLQHWjSL]]DVHWIDLWRXW 3RUWHjRXYHUWXUHODWpUDOH
HQIRQWH
%$ ࡱ &DUDFWpULVWLTXHV
3LHUUHjSDLQHWj ࡱ+7 6RQGHWKHUPRPpWULTXHSRLQWVGH
SL]]DV PHVXUHDYHFDUUrWDXWRPDWLTXHHW
&RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D HVWLPDWLRQGXWHPSVGHFXLVVRQ
FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW 3URJUDPPHVDXWRPDWLTXHV
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH 7RXUQHEURFKH
GHUDLOWpOHVFRSLTXH 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
%6 ࡱ 7KHUPRWHVW$IILFKDJHGHOD
3HOOHjSL]]DVHWGH ࡱ+7 WHPSpUDWXUHUpHOOH
*1 ࡱ 3UpFKDXIIDJHUDSLGH
)DLWRXW*DVWUR1RUP ࡱ+7 )RQFWLRQVGXSURJUDPPDWHXUGXUpH
HQIRQWHG
DOXPLQLXP GHODFXLVVRQILQGHODFXLVVRQ
*1KDXWHXUPPDQWLDGKpUHQW PLQXWHULHFKURQRPqWUHPLQXWHULH
VSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHKDORJqQHYRWH:
(FODLUDJHKDORJqQHODWpUDO[:
6XSSRUWVODWpUDX[pPDLOOpVS\URO\
VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
,QWpJUDWLRQGDQVOHUpVHDX
GRPHVWLTXHSRXUVHUYLFHVGLJLWDX[
+RPH&RQQHFWYLDXQFkEOH/$1
UHFRPPDQGpRXXQHFRQQH[LRQ:L)L
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
KRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXU6pULH %6 ࡱ 6pFXULWp
%2 %2 3HOOHjSL]]DVHWGH ࡱ+7 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
*1 ࡱ 6pFXULWpHQIDQWV
² 3RUWHVDQVSRLJQpHRXYHUWXUH )DLWRXW*DVWUR1RUP ࡱ+7 &RXSXUHGHVpFXULWp
DXWRPDWLTXH HQIRQWHG
DOXPLQLXP 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
² $XWRQHWWR\DJHS\URO\VH *1KDXWHXUPPDQWLDGKpUHQW UHIURLGLVVHPHQWGHO
DSSDUHLO
² PRGHVGHFXLVVRQDYHFVRQGH
WKHUPRPpWULTXHWRXUQHEURFKHHW 1HWWR\DJH
IRQFWLRQSLHUUHjSDLQHWjSL]]DV $XWRQHWWR\DJHSDUS\URO\VH
² (FUDQ7)7VHQVLWLI (PDLOEOHX*DJJHQDX
² 3URJUDPPHVDXWRPDWLTXHV &DWDO\VHXUpOHFWULTXHGHIXPpHV
² 6RQGHWKHUPRPpWULTXHDYHF SXULILDQWO
DLUUHMHWp
HVWLPDWLRQGXWHPSVGHFXLVVRQ
² $SSDUHLOVDQVEDQGHDXGH &RQVHLOVG
LQVWDOODWLRQ
FRPPDQGHDYHFPRGXOHGH &KDUQLqUHVQRQUpYHUVLEOHV
0RGXOHGHFRPPDQGHKDXW FRPPDQGHVXUODSRUWHYLWUpH 'LVWDQFHHQWUHOHFRUSVGXPHXEOH
&KDUQLqUHVjGURLWH ² 5pJXODWLRQpOHFWURQLTXHGHOD HWODYLWUHDYDQWGXIRXUPP
%2 ࡱ WHPSpUDWXUHGH&j& 7HQLUFRPSWHGXGpERUGHPHQW
3RUWHSOHLQYHUUHVXU ࡱ+7 ² 9ROXPHXWLOHOLWUHV SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
LQR[ ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
+RPH&RQQHFW SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
/DUJHXUFP 0RGHVGHFXLVVRQ SRUWHGHPLQLPXP
%2 ࡱ &KDOHXUWRXUQDQWH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
3RUWHSOHLQYHUUH ࡱ+7 &KDOHXUWRXUQDQWH(FR GHPPOHFkEOHGHUDFFRUGHPHQW
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 9RWH6ROH GRLWrWUHRULHQWpYHUVOHEDVHWSDVVHU
+RPH&RQQHFW 9RWH6ROH SDUOHFRLQELVHDXWpjO
DUULqUHGURLWGH
/DUJHXUFP 9RWH O
DSSDUHLO
9RWH6ROH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
&KDUQLqUHVjJDXFKH 6ROH SODFpHHQGHKRUVGHODQLFKH
%2 ࡱ &KDOHXUWRXUQDQWH6ROH G
HQFDVWUHPHQW
3RUWHSOHLQYHUUHVXU ࡱ+7 &KDOHXUWRXUQDQWH6ROH /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
LQR[ *ULOJUDQGHVXUIDFH$LUYHQWLOp GHO
DSSDUHLOHQKDXWjGURLWH
+RPH&RQQHFW *ULOJUDQGHVXUIDFH
/DUJHXUFP &RPSDFW*ULO &RQVHLOVG
LQVWDOODWLRQSRXU
%2 ࡱ &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV O
LQWpJUDWLRQHQSDJHV
3RUWHSOHLQYHUUH ࡱ+7 &XLVVRQGDQVIDLWRXWHQIRQWH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX (WXYH 9DOHXUVGHUDFFRUGHPHQW
+RPH&RQQHFW 'pFRQJpODWLRQ &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
/DUJHXUFP 0DLQWLHQDXFKDXG XQHFODVVLILFDWLRQGH$j'
3XLVVDQFHWRWDOHN:
/HSUL[FRPSUHQG %DQGHDXGHFRPPDQGH 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
VRQGHWKHUPRPpWULTXHDPRYLEOH 2XYHUWXUHDXWRPDWLTXHGHODSRUWH 3UpYRLUXQFkEOH/$1
W{OHVjSkWLVVHULH &RPPDQGHSDUERXWRQVURWDWLIVHW
WRXUQHEURFKH pFUDQ7)7VHQVLWLI
OqFKHIULWHHQYHUUH $IILFKDJHWH[WHFODLU
JULOOH 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
OqFKHIULWHDYHFJULOOH LQFOXDQWODVRQGHWKHUPRPpWULTXH
3HUVRQQDOLVDWLRQGHVSURJUDPPHV
$FFHVVRLUHVHQRSWLRQ DXWRPDWLTXHV
%$ ࡱ 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
5DLOWpOHVFRSLTXH ࡱ+7 3RUWHjRXYHUWXUHODWpUDOH
&DGUHVXSSRUWHQIRQWHS\URO\VDEOHHW
V\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH &DUDFWpULVWLTXHV
%$ ࡱ 6RQGHWKHUPRPpWULTXHSRLQWVGH
/qFKHIULWHpPDLOOpH ࡱ+7 PHVXUHDYHFDUUrWDXWRPDWLTXHHW
3URIRQGHXUPP HVWLPDWLRQGXWHPSVGHFXLVVRQ
%$ ࡱ 3URJUDPPHVDXWRPDWLTXHV
7{OHjSkWLVVHULH ࡱ+7 7RXUQHEURFKH
pPDLOOpH3URIRQGHXUPP 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
%$ ࡱ 7KHUPRWHVW$IILFKDJHGHOD
*ULOOH ࡱ+7 WHPSpUDWXUHUpHOOH
6DQVRXYHUWXUHDYHFSLHGV 3UpFKDXIIDJHUDSLGH
%$ ࡱ )RQFWLRQVGXSURJUDPPDWHXUGXUpH
/qFKHIULWHHQYHUUH ࡱ+7 GHODFXLVVRQILQGHODFXLVVRQ
3URIRQGHXUPP PLQXWHULHFKURQRPqWUHPLQXWHULH
%$ ࡱ VSpFLDOHFXLVVRQORQJXHGXUpH
5pVLVWDQFHSRXU ࡱ+7 (FODLUDJHKDORJqQHYRWH:
SLHUUHjSDLQHWjSL]]DVHWIDLWRXWHQ (FODLUDJHKDORJqQHODWpUDO[:
IRQWH 6XSSRUWVODWpUDX[pPDLOOpVS\URO\
%$ ࡱ VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
3LHUUHjSDLQHWj ࡱ+7
SL]]DV ,QWpJUDWLRQGDQVOHUpVHDX
&RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D GRPHVWLTXHSRXUVHUYLFHVGLJLWDX[
FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW +RPH&RQQHFWYLDXQFkEOH/$1
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH UHFRPPDQGpRXXQHFRQQH[LRQ:L)L
GHUDLOWpOHVFRSLTXH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
KRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXU6pULH 6pFXULWp
%2 %2 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
6pFXULWpHQIDQWV
² 3RUWHVDQVSRLJQpHRXYHUWXUH &RXSXUHGHVpFXULWp
DXWRPDWLTXH 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
² $XWRQHWWR\DJHS\URO\VH UHIURLGLVVHPHQWGHO
DSSDUHLO
² PRGHVGHFXLVVRQDYHFVRQGH
WKHUPRPpWULTXHHWIRQFWLRQSLHUUHj 1HWWR\DJH
SDLQHWjSL]]DV $XWRQHWWR\DJHSDUS\URO\VH
² (FUDQ7)7VHQVLWLI (PDLOEOHX*DJJHQDX
² 3URJUDPPHVDXWRPDWLTXHV &DWDO\VHXUpOHFWULTXHGHIXPpHV
² 6RQGHWKHUPRPpWULTXHDYHF SXULILDQWO
DLUUHMHWp
HVWLPDWLRQGXWHPSVGHFXLVVRQ
² $SSDUHLOVDQVEDQGHDXGH &RQVHLOVG
LQVWDOODWLRQ
FRPPDQGHDYHFPRGXOHGH &KDUQLqUHVQRQUpYHUVLEOHV
0RGXOHGHFRPPDQGHKDXW FRPPDQGHVXUODSRUWHYLWUpH 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
&KDUQLqUHVjGURLWH ² 5pJXODWLRQpOHFWURQLTXHGHOD ODYLWUHDYDQWGXIRXUPP
%2 ࡱ WHPSpUDWXUHGH&j& 7HQLUFRPSWHGXGpERUGHPHQW
3RUWHSOHLQYHUUHVXU ࡱ+7 ² 9ROXPHXWLOHOLWUHV SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
LQR[ ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
+RPH&RQQHFW SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
/DUJHXUFP 0RGHVGHFXLVVRQ SRUWHGHPLQLPXP
&KDOHXUWRXUQDQWH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
&KDUQLqUHVjJDXFKH &KDOHXUWRXUQDQWH(FR GHPPOHFkEOHGHUDFFRUGHPHQW
%2 ࡱ 9RWH6ROH GRLWrWUHRULHQWpYHUVOHEDVHWSDVVHU
3RUWHSOHLQYHUUHVXU ࡱ+7 9RWH SDUOHFRLQELVHDXWpjO
DUULqUHGURLWGH
LQR[ 6ROH O
DSSDUHLO
+RPH&RQQHFW &KDOHXUWRXUQDQWH6ROH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
/DUJHXUFP *ULOJUDQGHVXUIDFH$LUYHQWLOp SODFpHHQGHKRUVGHODQLFKH
*ULOJUDQGHVXUIDFH G
HQFDVWUHPHQW
/HSUL[FRPSUHQG &RPSDFW*ULO /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
VRQGHWKHUPRPpWULTXHDPRYLEOH &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV GHO
DSSDUHLOHQKDXWjGURLWH
W{OHjSkWLVVHULH &XLVVRQGDQVIDLWRXWHQIRQWH
OqFKHIULWHHQYHUUH (WXYH &RQVHLOVG
LQVWDOODWLRQSRXU
JULOOH 'pFRQJpODWLRQ O
LQWpJUDWLRQHQSDJHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXU6pULH %6 ࡱ &RQVHLOVG
LQVWDOODWLRQ
%2 %2 3HOOHjSL]]DVHWGH ࡱ+7 &KDUQLqUHVQRQUpYHUVLEOHV
*1 ࡱ 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
² 3RUWHVDQVSRLJQpHRXYHUWXUH )DLWRXW*DVWUR1RUP ࡱ+7 ODYLWUHDYDQWGXIRXUPP
DXWRPDWLTXH HQIRQWHG
DOXPLQLXP 7HQLUFRPSWHGXGpERUGHPHQW
² $XWRQHWWR\DJHS\URO\VH *1KDXWHXUPPDQWLDGKpUHQW SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
² PRGHVGHFXLVVRQDYHFIRQFWLRQ (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
SLHUUHjSDLQHWjSL]]DV SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
² (FUDQ7)7VHQVLWLI SRUWHGHPLQLPXP
² $SSDUHLOVDQVEDQGHDXGH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
FRPPDQGHDYHFPRGXOHGH GHPPOHFkEOHGHUDFFRUGHPHQW
FRPPDQGHVXUODSRUWHYLWUpH GRLWrWUHRULHQWpYHUVOHEDVHWSDVVHU
² 5pJXODWLRQpOHFWURQLTXHGHOD SDUOHFRLQELVHDXWpjO
DUULqUHGURLWGH
WHPSpUDWXUHGH&j& O
DSSDUHLO
² 9ROXPHXWLOHOLWUHV /DSULVHGHUDFFRUGHPHQWGRLWrWUH
0RGXOHGHFRPPDQGHKDXW ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ SODFpHHQGHKRUVGHODQLFKH
&KDUQLqUHVjGURLWH G
HQFDVWUHPHQW
%2 ࡱ 0RGHVGHFXLVVRQ /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
3RUWHSOHLQYHUUHVXU ࡱ+7 &KDOHXUWRXUQDQWH GHO
DSSDUHLOHQKDXWjGURLWH
LQR[ &KDOHXUWRXUQDQWH(FR
+RPH&RQQHFW 9RWH6ROH &RQVHLOVG
LQVWDOODWLRQSRXU
/DUJHXUFP 9RWH O
LQWpJUDWLRQHQSDJHV
%2 ࡱ 6ROH
3RUWHSOHLQYHUUH ࡱ+7 &KDOHXUWRXUQDQWH6ROH 9DOHXUVGHUDFFRUGHPHQW
6pULJUDSKLH$QWKUDFLWH*DJJHQDX *ULOJUDQGHVXUIDFH$LUYHQWLOp &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
+RPH&RQQHFW *ULOJUDQGHVXUIDFH XQHFODVVLILFDWLRQGH$j'
/DUJHXUFP &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV 3XLVVDQFHWRWDOHN:
3UpYRLUXQFkEOHGHUDFFRUGHPHQW
&KDUQLqUHVjJDXFKH %DQGHDXGHFRPPDQGH 3UpYRLUXQFkEOH/$1
%2 ࡱ 2XYHUWXUHDXWRPDWLTXHGHODSRUWH
3RUWHSOHLQYHUUHVXU ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIVHW
LQR[ pFUDQ7)7VHQVLWLI
+RPH&RQQHFW $IILFKDJHWH[WHFODLU
/DUJHXUFP 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
%2 ࡱ 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
3RUWHSOHLQYHUUH ࡱ+7 3RUWHjRXYHUWXUHODWpUDOH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX
+RPH&RQQHFW &DUDFWpULVWLTXHV
/DUJHXUFP 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
7KHUPRWHVW$IILFKDJHGHOD
/HSUL[FRPSUHQG WHPSpUDWXUHUpHOOH
W{OHjSkWLVVHULH 3UpFKDXIIDJHUDSLGH
OqFKHIULWHHQYHUUH )RQFWLRQVGXSURJUDPPDWHXUGXUpH
JULOOH GHODFXLVVRQILQGHODFXLVVRQ
PLQXWHULHFKURQRPqWUHPLQXWHULH
$FFHVVRLUHVHQRSWLRQ VSpFLDOHFXLVVRQORQJXHGXUpH
%$ ࡱ (FODLUDJHKDORJqQHYRWH:
5DLOWpOHVFRSLTXH ࡱ+7 6XSSRUWVODWpUDX[pPDLOOpVS\URO\
&DGUHVXSSRUWHQIRQWHS\URO\VDEOHHW VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
V\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH
%$ ࡱ ,QWpJUDWLRQGDQVOHUpVHDX
7{OHjSkWLVVHULH ࡱ+7 GRPHVWLTXHSRXUVHUYLFHVGLJLWDX[
pPDLOOpH3URIRQGHXUPP +RPH&RQQHFWYLDXQFkEOH/$1
%$ ࡱ UHFRPPDQGpRXXQHFRQQH[LRQ:L)L
*ULOOH ࡱ+7 /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
6DQVRXYHUWXUHDYHFSLHGV &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
%$ ࡱ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
/qFKHIULWHHQYHUUH ࡱ+7 SD\VUHVSHFWLI/HVVHUYLFHV+RPH
3URIRQGHXUPP &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
%$ ࡱ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
5pVLVWDQFHSRXU ࡱ+7 KRPHFRQQHFWFRP
SLHUUHjSDLQHWjSL]]DVHWIDLWRXWHQ
IRQWH 6pFXULWp
%$ ࡱ 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
3LHUUHjSDLQHWj ࡱ+7 6pFXULWpHQIDQWV
SL]]DV &RXSXUHGHVpFXULWp
&RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW UHIURLGLVVHPHQWGHO
DSSDUHLO
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH
GHUDLOWpOHVFRSLTXH 1HWWR\DJH
%$ ࡱ $XWRQHWWR\DJHSDUS\URO\VH
/qFKHIULWHpPDLOOpH ࡱ+7 (PDLOEOHX*DJJHQDX
3URIRQGHXUPP &DWDO\VHXUpOHFWULTXHGHIXPpHV
SXULILDQWO
DLUUHMHWp
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUFRPELYDSHXU6pULH *1 ࡱ (WDORQQDJHDXWRPDWLTXHGHOD
%6 %6 5pFLSLHQW*DVWUR ࡱ+7 WHPSpUDWXUHGHYDSRULVDWLRQHQ
1RUPHQLQR[*1 IRQFWLRQGHO
DOWLWXGH
² 3RUWHVDQVSRLJQpHRXYHUWXUH 1RQSHUIRUpPPGHSURIRQGHXUO ,QGLFDWLRQGHVDWXUDWLRQGHOD
DXWRPDWLTXH *1 ࡱ FDUWRXFKHGHILOWUDJHVLUDFFRUGHPHQW
² 5DFFRUGHPHQWGLUHFWjO
DUULYpHHWj 5pFLSLHQW*DVWUR ࡱ+7 DXV\VWqPHGHILOWUHDQWLFDOFDLUH
O
pYDFXDWLRQG
HDX 1RUPHQLQR[*1 *)
² 6\VWqPHGHQHWWR\DJHWRXW 3HUIRUpPPGHSURIRQGHXUO (FODLUDJHODWpUDO[/('
DXWRPDWLTXH *1 ࡱ (QFHLQWHGHFXLVVRQHQLQR[
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU 5pFLSLHQW*DVWUR ࡱ+7 QLYHDX[G
LQVHUWLRQ
0RGXOHGHFRPPDQGHEDV ² VRXUFHVG
pFODLUDJH/(' 1RUPHQLQR[*1
&KDUQLqUHVjGURLWH ² *pQpUDWLRQH[WHUQHGHODYDSHXU 3HUIRUpPPGHSURIRQGHXUO ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
%6 ࡱ ² &XLVVRQYDSHXUVDQVSUHVVLRQ *1 ࡱ SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
3RUWHSOHLQYHUUHVXU ࡱ+7 ² &KDOHXUWRXUQDQWHGH&j )DLWRXW*DVWUR1RUP ࡱ+7 YLDXQFkEOH/$1UHFRPPDQGpRX
LQR[ &DYHFUpJODJHGHO
KXPLGLWp HQIRQWHG
DOXPLQLXP VDQVILOYLD:L)L
+RPH&RQQHFW GH *1KDXWHXUPPDQWLDGKpUHQW /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
/DUJHXUFP FRPELQDEOHDXFKRL[ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
² &XLVVRQ6RXVYLGHDYHFUpJODJH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
&KDUQLqUHVjJDXFKH SUpFLVGHODWHPSpUDWXUHDXGHJUp SD\VUHVSHFWLI/HVVHUYLFHV+RPH
%6 ࡱ SUqV &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
3RUWHSOHLQYHUUHVXU ࡱ+7 ² *ULOJUDQGHVXUIDFHSURWpJpSDU WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
LQR[ YHUUHYLWURFpUDPLTXHFRPELQDEOH ZZZKRPHFRQQHFWFRP
+RPH&RQQHFW DYHFO
DLUYHQWLOpMXVTX
j&HWOD
/DUJHXUFP YDSHXU 6pFXULWp
² 3URJUDPPHVDXWRPDWLTXHV 6pFXULWpHQIDQWV
/HSUL[FRPSUHQG ² 6RQGHWKHUPRPpWULTXHDYHF &RXSXUHGHVpFXULWp
UpFLSLHQWHQLQR[SHUIRUpO HVWLPDWLRQGXWHPSVGHFXLVVRQ 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UpFLSLHQWHQLQR[QRQSHUIRUpO ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH UHIURLGLVVHPHQWGHO
DSSDUHLO
JULOOH URWDWLIGDQVOHVGHX[VHQVSRXUXQH
VRQGHWKHUPRPpWULTXHDPRYLEOH UpSDUWLWLRQLGpDOHGHODFKDOHXU 1HWWR\DJH
WX\DXG
pYDFXDWLRQG
HDXP ² (FUDQ7)7VHQVLWLI 3URJUDPPHGHQHWWR\DJHWRXW
WX\DXG
DUULYpHG
HDXP ² $SSDUHLOVDQVEDQGHDXGH DXWRPDWLTXH
FDUWRXFKHVGHQHWWR\DJH FRPPDQGHDYHFPRGXOHGH 3URJUDPPHGHGpWDUWUDJHSRXU
FRPPDQGHVXUODSRUWHYLWUpH OHJpQpUDWHXUGHYDSHXU
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ ² 5pJODJHpOHFWURQLTXHGHOD 3URJUDPPHGHVpFKDJH
*) ࡱ WHPSpUDWXUHGH&j& 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWH
6\VWqPHGHILOWUDJH ࡱ+7 ² 9ROXPHXWLOHOLWUHV GHFXLVVRQjODILQGXSURFHVVXVGH
DQWLFDOFDLUHHWQHXWUDOLVDWLRQGXJRW FXLVVRQ
*) ࡱ 0RGHVGHFXLVVRQ )LOWUHWDPLVDPRYLEOH
&DUWRXFKHGHILOWUDJH ࡱ+7 &KDOHXUWRXUQDQWHG
KXPLGLWp 0RGH'pPRSRXUSURJUDPPHGH
GHUHFKDQJH &KDOHXUWRXUQDQWHG
KXPLGLWp QHWWR\DJH
*= ࡱ &KDOHXUWRXUQDQWHG
KXPLGLWp
5DOORQJH$TXD6WRS ࡱ+7 &KDOHXUWRXUQDQWHG
KXPLGLWp &RQVHLOVG
LQVWDOODWLRQ
ORQJXHXUP &KDOHXUWRXUQDQWHG
KXPLGLWp &KDUQLqUHVQRQUpYHUVLEOHV
5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ &XLVVRQEDVVHWHPSpUDWXUH $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
G
HDX &XLVVRQ6RXV9LGH LQVWDOOpDXGHVVXVGXIRXUYDSHXU
*ULOSRVLWLRQ+XPLGLWp /HWX\DXG
pYDFXDWLRQG
HDXQHSHXW
$FFHVVRLUHVHQRSWLRQ *ULOSRVLWLRQ+XPLGLWp rWUHEUDQFKpDXGHVVXVGXSRLQWOH
%$ ࡱ *ULO$LUYHQWLOp SOXVEDVGHO
DSSDUHLOHWLOGRLWrWUH
5DLOWpOHVFRSLTXH ࡱ+7 )HUPHQWDWLRQ SODFpPLQPPSOXVEDVTXHOD
WURLVQLYHDX[ 'pFRQJpODWLRQ VRUWLHG
pYDFXDWLRQGHO
DSSDUHLO
%$ ࡱ 5pJpQpUDWLRQ 7X\DXG
DUULYpHG
HDXSHXWrWUHUDOORQJp
5pFLSLHQWGHFXLVVRQ ࡱ+7 XQHIRLV
HQLQR[QRQSHUIRUp %DQGHDXGHFRPPDQGH /RQJXHXUPD[LPDOHGXWX\DX
SURIRQGHXUPPO 2XYHUWXUHDXWRPDWLTXHGHODSRUWH G
pYDFXDWLRQP
%$ ࡱ &RPPDQGHSDUERXWRQVURWDWLIVHW /HURELQHWG
DUULYpHG
HDXGRLW
5pFLSLHQWGHFXLVVRQ ࡱ+7 pFUDQ7)7VHQVLWLI WRXMRXUVrWUHDFFHVVLEOHLOQHSHXWSDV
HQLQR[SHUIRUp $IILFKDJHWH[WHFODLU rWUHSODFpGHUULqUHO
DSSDUHLO
SURIRQGHXUPPO 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV /HWX\DXG
pYDFXDWLRQG
HDXUHOLpDX
%$ ࡱ LQFOXDQWODVRQGHWKHUPRPpWULTXH VLSKRQGRLWWRXMRXUVrWUHDFFHVVLEOH
5pFLSLHQWGHFXLVVRQ ࡱ+7 3HUVRQQDOLVDWLRQGHVSURJUDPPHV HWQHSDVrWUHSODFpGHUULqUHO
DSSDUHLO
DQWLDGKpUHQWQRQSHUIRUp DXWRPDWLTXHV 3UpYRLUO
LQVWDOODWLRQGXV\VWqPHGH
SURIRQGHXUPPO 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ ILOWUDJHDQWLFDOFDLUH*)j
%$ ࡱ 3RUWHjRXYHUWXUHODWpUDOH O
DUULYpHG
HDXGHO
DSSDUHLOVLODGXUHWp
5pFLSLHQWGHFXLVVRQ ࡱ+7 GHO
HDXH[FqGHI+
DQWLDGKpUHQWSHUIRUp &DUDFWpULVWLTXHV /DGLVWDQFHHQWUHOHFRUSVGXPHXEOH
SURIRQGHXUPPO *ULOJUDQGHVXUIDFHN:GHUULqUH HWODIDoDGHHVWGHPP
%$ ࡱ YHUUHYLWURFpUDPLTXH 7HQLUFRPSWHGXGpERUGVL
/qFKHIULWHHQYHUUH ࡱ+7 (OLPLQDWLRQGHODYDSHXU O
LPSODQWDWLRQSUpYRLWO
RXYHUWXUHGH
3URIRQGHXUPP 9DSRULVDWLRQG
KXPLGLWp WLURLUVSODFpVjF{WpGHO
DSSDUHLO
&/6 ࡱ 6RQGHWKHUPRPpWULTXHSRLQWVGH (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
&DUWRXFKHVGH ࡱ+7 PHVXUHDYHFDUUrWDXWRPDWLTXHHW SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
QHWWR\DJH HVWLPDWLRQGXWHPSVGHFXLVVRQ SRUWHGHPLQLPXP
6HWGH 3URJUDPPHVDXWRPDWLTXHV /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
*1 ࡱ 7KHUPRWHVW$IILFKDJHGHOD ODQLFKH
$GDSWDWHXUSRXU ࡱ+7 WHPSpUDWXUHUpHOOH
UpFLSLHQWVGHFXLVVRQHWIDLWRXW )RQFWLRQVGXSURJUDPPDWHXUGXUpH $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
*DVWUR1RUP GHODFXLVVRQILQGHODFXLVVRQ HQWDQWTXHSLqFHVGpWDFKpHV
*1 ࡱ PLQXWHULHFKURQRPqWUHPLQXWHULH (71U7DEOHWWHVGHGpWDUWUDJH
5pFLSLHQW*DVWUR1RUP ࡱ+7 VSpFLDOHFXLVVRQORQJXHGXUpH
HQLQR[*1 &RQVHLOVG
LQVWDOODWLRQSRXU
1RQSHUIRUpPPGHSURIRQGHXU O
LQWpJUDWLRQHQSDJHV
O
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
9DOHXUVGHUDFFRUGHPHQW
&ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j'
3XLVVDQFHWRWDOHN:
5DFFRUGHPHQWXQLTXHPHQWjO
HDX
IURLGH
7X\DXG
DUULYpHG
HDXPDYHF
UDFFRUGPPSHXWrWUH
UDOORQJp
7X\DXG
pYDFXDWLRQG
HDXPP
PWX\DX+7
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
3UpYRLUXQFkEOH/$1
)RXUFRPELYDSHXU6pULH /HSUL[FRPSUHQG (WDORQQDJHDXWRPDWLTXHGHOD
%6%6%6%6 UpFLSLHQWHQLQR[SHUIRUpO WHPSpUDWXUHGHYDSRULVDWLRQHQ
UpFLSLHQWHQLQR[QRQSHUIRUpO IRQFWLRQGHO
DOWLWXGH
² 3RUWHVDQVSRLJQpHRXYHUWXUH JULOOH ,QGLFDWLRQGHVDWXUDWLRQGHOD
DXWRPDWLTXH VRQGHWKHUPRPpWULTXHDPRYLEOH FDUWRXFKHGHILOWUDJHVLUDFFRUGHPHQW
² 5DFFRUGHPHQWGLUHFWjO
DUULYpHHWj WX\DXG
pYDFXDWLRQG
HDXP DXV\VWqPHGHILOWUHDQWLFDOFDLUH
O
pYDFXDWLRQG
HDX WX\DXG
DUULYpHG
HDXP *)
² 6\VWqPHGHQHWWR\DJHWRXW FDUWRXFKHVGHQHWWR\DJH (FODLUDJHODWpUDO[/('
DXWRPDWLTXH (QFHLQWHGHFXLVVRQHQLQR[
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU $FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ QLYHDX[G
LQVHUWLRQ
² VRXUFHVG
pFODLUDJH/(' *) ࡱ
² *pQpUDWLRQH[WHUQHGHODYDSHXU 6\VWqPHGHILOWUDJH ࡱ+7 ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
² &XLVVRQYDSHXUVDQVSUHVVLRQ DQWLFDOFDLUHHWQHXWUDOLVDWLRQGXJRW SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
0RGXOHGHFRPPDQGHKDXW ² &KDOHXUWRXUQDQWHGH&j *) ࡱ YLDXQFkEOH/$1UHFRPPDQGpRX
&KDUQLqUHVjGURLWH &DYHFUpJODJHGHO
KXPLGLWp &DUWRXFKHGHILOWUDJH ࡱ+7 VDQVILOYLD:L)L
%6 ࡱ GH GHUHFKDQJH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
3RUWHSOHLQYHUUHVXU ࡱ+7 FRPELQDEOHDXFKRL[ *= ࡱ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
LQR[ ² &XLVVRQ6RXVYLGHDYHFUpJODJH 5DOORQJH$TXD6WRS ࡱ+7 GHVVHUYLFHV+RPH&RQQHFWGDQVOH
+RPH&RQQHFW SUpFLVGHODWHPSpUDWXUHDXGHJUp ORQJXHXUP SD\VUHVSHFWLI/HVVHUYLFHV+RPH
/DUJHXUFP SUqV 5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
%6 ࡱ ² *ULOJUDQGHVXUIDFHSURWpJpSDU G
HDX WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
3RUWHSOHLQYHUUH ࡱ+7 YHUUHYLWURFpUDPLTXHFRPELQDEOH ZZZKRPHFRQQHFWFRP
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DYHFO
DLUYHQWLOpMXVTX
j&HWOD $FFHVVRLUHVHQRSWLRQ
+RPH&RQQHFW YDSHXU %$ ࡱ 6pFXULWp
/DUJHXUFP ² 3URJUDPPHVDXWRPDWLTXHV 5DLOWpOHVFRSLTXH ࡱ+7 6pFXULWpHQIDQWV
² 6RQGHWKHUPRPpWULTXHDYHF WURLVQLYHDX[ &RXSXUHGHVpFXULWp
&KDUQLqUHVjJDXFKH HVWLPDWLRQGXWHPSVGHFXLVVRQ %$ ࡱ 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
%6 ࡱ ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH 5pFLSLHQWGHFXLVVRQ ࡱ+7 UHIURLGLVVHPHQWGHO
DSSDUHLO
3RUWHSOHLQYHUUHVXU ࡱ+7 URWDWLIGDQVOHVGHX[VHQVSRXUXQH HQLQR[QRQSHUIRUp
LQR[ UpSDUWLWLRQLGpDOHGHODFKDOHXU SURIRQGHXUPPO 1HWWR\DJH
+RPH&RQQHFW ² (FUDQ7)7VHQVLWLI %$ ࡱ 3URJUDPPHGHQHWWR\DJHWRXW
/DUJHXUFP ² $SSDUHLOVDQVEDQGHDXGH 5pFLSLHQWGHFXLVVRQ ࡱ+7 DXWRPDWLTXH
%6 ࡱ FRPPDQGHDYHFPRGXOHGH HQLQR[SHUIRUp 3URJUDPPHGHGpWDUWUDJHSRXUOH
3RUWHSOHLQYHUUH ࡱ+7 FRPPDQGHVXUODSRUWHYLWUpH SURIRQGHXUPPO JpQpUDWHXUGHYDSHXU
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² 5pJODJHpOHFWURQLTXHGHOD %$ ࡱ 3URJUDPPHGHVpFKDJH
+RPH&RQQHFW WHPSpUDWXUHGH&j& 5pFLSLHQWGHFXLVVRQ ࡱ+7 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWH
/DUJHXUFP ² 9ROXPHXWLOHOLWUHV DQWLDGKpUHQWQRQSHUIRUp GHFXLVVRQjODILQGXSURFHVVXVGH
SURIRQGHXUPPO FXLVVRQ
0RGHVGHFXLVVRQ %$ ࡱ )LOWUHWDPLVDPRYLEOH
&KDOHXUWRXUQDQWHG
KXPLGLWp 5pFLSLHQWGHFXLVVRQ ࡱ+7 0RGH'pPRSRXUSURJUDPPHGH
&KDOHXUWRXUQDQWHG
KXPLGLWp DQWLDGKpUHQWSHUIRUp QHWWR\DJH
&KDOHXUWRXUQDQWHG
KXPLGLWp SURIRQGHXUPPO
&KDOHXUWRXUQDQWHG
KXPLGLWp %$ ࡱ &RQVHLOVG
LQVWDOODWLRQ
&KDOHXUWRXUQDQWHG
KXPLGLWp /qFKHIULWHHQYHUUH ࡱ+7 &KDUQLqUHVQRQUpYHUVLEOHV
&XLVVRQEDVVHWHPSpUDWXUH 3URIRQGHXUPP $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
&XLVVRQ6RXV9LGH &/6 ࡱ LQVWDOOpDXGHVVXVGXIRXUYDSHXU
*ULOSRVLWLRQ+XPLGLWp &DUWRXFKHVGH ࡱ+7 /HWX\DXG
pYDFXDWLRQG
HDXQHSHXW
*ULOSRVLWLRQ+XPLGLWp QHWWR\DJH rWUHEUDQFKpDXGHVVXVGXSRLQWOH
*ULO$LUYHQWLOp 6HWGH SOXVEDVGHO
DSSDUHLOHWLOGRLWrWUH
)HUPHQWDWLRQ *1 ࡱ SODFpPLQPPSOXVEDVTXHOD
'pFRQJpODWLRQ $GDSWDWHXUSRXU ࡱ+7 VRUWLHG
pYDFXDWLRQGHO
DSSDUHLO
5pJpQpUDWLRQ UpFLSLHQWVGHFXLVVRQHWIDLWRXW 7X\DXG
DUULYpHG
HDXSHXWrWUHUDOORQJp
0RGXOHGHFRPPDQGHEDV *DVWUR1RUP XQHIRLV
&KDUQLqUHVjGURLWH %DQGHDXGHFRPPDQGH *1 ࡱ /RQJXHXUPD[LPDOHGXWX\DX
%6 ࡱ 2XYHUWXUHDXWRPDWLTXHGHODSRUWH 5pFLSLHQW*DVWUR1RUP ࡱ+7 G
pYDFXDWLRQP
3RUWHSOHLQYHUUHVXU ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIVHW HQLQR[*1 /HURELQHWG
DUULYpHG
HDXGRLW
LQR[ pFUDQ7)7VHQVLWLI 1RQSHUIRUpSURIRQGHXUPPO WRXMRXUVrWUHDFFHVVLEOHLOQHSHXWSDV
+RPH&RQQHFW $IILFKDJHWH[WHFODLU *1 ࡱ rWUHSODFpGHUULqUHO
DSSDUHLO
/DUJHXUFP 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV 5pFLSLHQW*DVWUR ࡱ+7 /HWX\DXG
pYDFXDWLRQG
HDXUHOLpDX
%6 ࡱ LQFOXDQWODVRQGHWKHUPRPpWULTXH 1RUPHQLQR[*1 VLSKRQGRLWWRXMRXUVrWUHDFFHVVLEOH
3RUWHSOHLQYHUUH ࡱ+7 3HUVRQQDOLVDWLRQGHVSURJUDPPHV 1RQSHUIRUpSURIRQGHXUPPO HWQHSDVrWUHSODFpGHUULqUHO
DSSDUHLO
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DXWRPDWLTXHV *1 ࡱ 3UpYRLUO
LQVWDOODWLRQGXV\VWqPHGH
+RPH&RQQHFW 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ 5pFLSLHQW*DVWUR ࡱ+7 ILOWUDJHDQWLFDOFDLUH*)j
/DUJHXUFP 3RUWHjRXYHUWXUHODWpUDOH 1RUPHQLQR[*1 O
DUULYpHG
HDXGHO
DSSDUHLOVLODGXUHWp
3HUIRUpSURIRQGHXUPPO GHO
HDXH[FqGHI+
&KDUQLqUHVjJDXFKH &DUDFWpULVWLTXHV *1 ࡱ /DGLVWDQFHHQWUHOHFRUSVGXPHXEOH
%6 ࡱ *ULOJUDQGHVXUIDFHN:GHUULqUH 5pFLSLHQW*DVWUR ࡱ+7 HWODIDoDGHHVWGHPP
3RUWHSOHLQYHUUHVXU ࡱ+7 YHUUHYLWURFpUDPLTXH 1RUPHQLQR[*1 7HQLUFRPSWHGXGpERUGVL
LQR[ (OLPLQDWLRQGHODYDSHXU 3HUIRUpSURIRQGHXUPPO O
LPSODQWDWLRQSUpYRLWO
RXYHUWXUHGH
+RPH&RQQHFW 9DSRULVDWLRQG
KXPLGLWp *1 ࡱ WLURLUVSODFpVjF{WpGHO
DSSDUHLO
/DUJHXUFP 6RQGHWKHUPRPpWULTXHSRLQWVGH )DLWRXW*DVWUR1RUP ࡱ+7 (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
%6 ࡱ PHVXUHDYHFDUUrWDXWRPDWLTXHHW HQIRQWHG
DOXPLQLXP SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
3RUWHSOHLQYHUUH ࡱ+7 HVWLPDWLRQGXWHPSVGHFXLVVRQ *1KDXWHXUPPDQWLDGKpUHQW SRUWHGHPLQLPXP
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 3URJUDPPHVDXWRPDWLTXHV /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
+RPH&RQQHFW 7KHUPRWHVW$IILFKDJHGHOD ODQLFKH
/DUJHXUFP WHPSpUDWXUHUpHOOH
)RQFWLRQVGXSURJUDPPDWHXUGXUpH $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
GHODFXLVVRQILQGHODFXLVVRQ HQWDQWTXHSLqFHVGpWDFKpHV
PLQXWHULHFKURQRPqWUHPLQXWHULH (71U7DEOHWWHVGHGpWDUWUDJH
VSpFLDOHFXLVVRQORQJXHGXUpH
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQHQSDJHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
9DOHXUVGHUDFFRUGHPHQW
&ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j'
3XLVVDQFHWRWDOHN:
5DFFRUGHPHQWXQLTXHPHQWjO
HDX
IURLGH
7X\DXG
DUULYpHG
HDXPDYHF
UDFFRUGPPSHXWrWUH
UDOORQJp
7X\DXG
pYDFXDWLRQG
HDXPP
PWX\DX+7
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
3UpYRLUXQFkEOH/$1
)RXUFRPELYDSHXU6pULH /HSUL[FRPSUHQG PLQXWHULHFKURQRPqWUHPLQXWHULH
%6 %6 %6 %6 UpFLSLHQWHQLQR[SHUIRUpO VSpFLDOHFXLVVRQORQJXHGXUpH
UpFLSLHQWHQLQR[QRQSHUIRUpO (WDORQQDJHDXWRPDWLTXHGHOD
² 3RUWHVDQVSRLJQpHRXYHUWXUH JULOOH WHPSpUDWXUHGHYDSRULVDWLRQHQ
DXWRPDWLTXH VRQGHWKHUPRPpWULTXHDPRYLEOH IRQFWLRQGHO
DOWLWXGH
² 5pVHUYRLUSRXUHDXIUDvFKHHWHDX FDUWRXFKHVGHQHWWR\DJH (FODLUDJHODWpUDO[/('
XVpH (QFHLQWHGHFXLVVRQHQLQR[
² 6\VWqPHGHQHWWR\DJHWRXW $FFHVVRLUHVHQRSWLRQ QLYHDX[G
LQVHUWLRQ
DXWRPDWLTXH %$ ࡱ
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU 5DLOWpOHVFRSLTXH ࡱ+7 ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
² VRXUFHVG
pFODLUDJH/(' WURLVQLYHDX[ SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
² *pQpUDWLRQH[WHUQHGHODYDSHXU %$ ࡱ YLDXQFkEOH/$1UHFRPPDQGpRX
² &XLVVRQYDSHXUVDQVSUHVVLRQ 5pFLSLHQWGHFXLVVRQ ࡱ+7 VDQVILOYLD:L)L
0RGXOHGHFRPPDQGHKDXW ² &KDOHXUWRXUQDQWHGH&j HQLQR[QRQSHUIRUp /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&KDUQLqUHVjGURLWH &DYHFUpJODJHGHO
KXPLGLWp SURIRQGHXUPPO &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
%6 ࡱ GH %$ ࡱ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
3RUWHSOHLQYHUUHVXU ࡱ+7 FRPELQDEOHDXFKRL[ 5pFLSLHQWGHFXLVVRQ ࡱ+7 SD\VUHVSHFWLI/HVVHUYLFHV+RPH
LQR[ ² &XLVVRQ6RXVYLGHDYHFUpJODJH HQLQR[SHUIRUp &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
+RPH&RQQHFW SUpFLVGHODWHPSpUDWXUHDXGHJUp SURIRQGHXUPPO WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
/DUJHXUFP SUqV %$ ࡱ ZZZKRPHFRQQHFWFRP
%6 ࡱ ² *ULOJUDQGHVXUIDFHSURWpJpSDU 5pFLSLHQWGHFXLVVRQ ࡱ+7
3RUWHSOHLQYHUUH ࡱ+7 YHUUHYLWURFpUDPLTXHFRPELQDEOH DQWLDGKpUHQWQRQSHUIRUp 6pFXULWp
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DYHFO
DLUYHQWLOpMXVTX
j&HW SURIRQGHXUPPO 6pFXULWpHQIDQWV
+RPH&RQQHFW ODYDSHXU %$ ࡱ &RXSXUHGHVpFXULWp
/DUJHXUFP ² 3URJUDPPHVDXWRPDWLTXHV 5pFLSLHQWGHFXLVVRQ ࡱ+7 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
² 6RQGHWKHUPRPpWULTXHDYHF DQWLDGKpUHQWSHUIRUp UHIURLGLVVHPHQWGHO
DSSDUHLO
&KDUQLqUHVjJDXFKH HVWLPDWLRQGXWHPSVGHFXLVVRQ SURIRQGHXUPPO
%6 ࡱ ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH %$ ࡱ 1HWWR\DJH
3RUWHSOHLQYHUUHVXU ࡱ+7 URWDWLIGDQVOHVGHX[VHQVSRXUXQH /qFKHIULWHHQYHUUH ࡱ+7 3URJUDPPHGHQHWWR\DJHWRXW
LQR[ UpSDUWLWLRQLGpDOHGHODFKDOHXU 3URIRQGHXUPP DXWRPDWLTXH
+RPH&RQQHFW ² (FUDQ7)7VHQVLWLI &/6 ࡱ 3URJUDPPHGHGpWDUWUDJHSRXUOH
/DUJHXUFP ² $SSDUHLOVDQVEDQGHDXGH &DUWRXFKHVGH ࡱ+7 JpQpUDWHXUGHYDSHXU
%6 ࡱ FRPPDQGHDYHFPRGXOHGH QHWWR\DJH 3URJUDPPHGHVpFKDJH
3RUWHSOHLQYHUUH ࡱ+7 FRPPDQGHVXUODSRUWHYLWUpH 6HWGH 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² 5pJODJHpOHFWURQLTXHGHOD *1 ࡱ GHFXLVVRQjODILQGXSURFHVVXVGH
+RPH&RQQHFW WHPSpUDWXUHGH&j& $GDSWDWHXUSRXU ࡱ+7 FXLVVRQ
/DUJHXUFP ² 9ROXPHXWLOHOLWUHV UpFLSLHQWVGHFXLVVRQHWIDLWRXW )LOWUHWDPLVDPRYLEOH
*DVWUR1RUP 5pVHUYRLUG
HDXODYDEOHDXODYH
0RGHVGHFXLVVRQ *1 ࡱ YDLVVHOOH
&KDOHXUWRXUQDQWHG
KXPLGLWp 5pFLSLHQW*DVWUR1RUP ࡱ+7 0RGH'pPRSRXUSURJUDPPHGH
&KDOHXUWRXUQDQWHG
KXPLGLWp HQLQR[*1 QHWWR\DJH
&KDOHXUWRXUQDQWHG
KXPLGLWp 1RQSHUIRUpSURIRQGHXUPPO
&KDOHXUWRXUQDQWHG
KXPLGLWp *1 ࡱ &RQVHLOVG
LQVWDOODWLRQ
&KDOHXUWRXUQDQWHG
KXPLGLWp 5pFLSLHQW*DVWUR ࡱ+7 &KDUQLqUHVQRQUpYHUVLEOHV
&XLVVRQEDVVHWHPSpUDWXUH 1RUPHQLQR[*1 $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
&XLVVRQ6RXV9LGH 1RQSHUIRUpSURIRQGHXUPPO LQVWDOOpDXGHVVXVGXIRXUYDSHXU
*ULOSRVLWLRQ+XPLGLWp *1 ࡱ /DGLVWDQFHHQWUHOHFRUSVGXPHXEOH
*ULOSRVLWLRQ+XPLGLWp 5pFLSLHQW*DVWUR ࡱ+7 HWODIDoDGHHVWGHPP
*ULO$LUYHQWLOp 1RUPHQLQR[*1 7HQLUFRPSWHGXGpERUGVL
)HUPHQWDWLRQ 3HUIRUpSURIRQGHXUPPO O
LPSODQWDWLRQSUpYRLWO
RXYHUWXUHGH
'pFRQJpODWLRQ *1 ࡱ WLURLUVSODFpVjF{WpGHO
DSSDUHLO
5pJpQpUDWLRQ 5pFLSLHQW*DVWUR ࡱ+7 (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
0RGXOHGHFRPPDQGHEDV 1RUPHQLQR[*1 SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
&KDUQLqUHVjGURLWH %DQGHDXGHFRPPDQGH 3HUIRUpSURIRQGHXUPPO SRUWHGHPLQLPXP
%6 ࡱ 2XYHUWXUHDXWRPDWLTXHGHODSRUWH *1 ࡱ /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
3RUWHSOHLQYHUUHVXU ࡱ+7 &RPPDQGHSDUERXWRQVURWDWLIVHW )DLWRXW*DVWUR1RUP ࡱ+7 ODQLFKH
LQR[ pFUDQ7)7VHQVLWLI HQIRQWHG
DOXPLQLXP /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
+RPH&RQQHFW $IILFKDJHWH[WHFODLU *1KDXWHXUPPDQWLDGKpUHQW GHO
DSSDUHLOHQEDVjJDXFKH
/DUJHXUFP 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
%6 ࡱ LQFOXDQWODVRQGHWKHUPRPpWULTXH $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
3RUWHSOHLQYHUUH ࡱ+7 3HUVRQQDOLVDWLRQGHVSURJUDPPHV HQWDQWTXHSLqFHVGpWDFKpHV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DXWRPDWLTXHV (71U7DEOHWWHVGHGpWDUWUDJH
+RPH&RQQHFW 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/DUJHXUFP 3RUWHjRXYHUWXUHODWpUDOH &RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQHQSDJHV
&KDUQLqUHVjJDXFKH &DUDFWpULVWLTXHV
%6 ࡱ *ULOJUDQGHVXUIDFHN:GHUULqUH 9DOHXUVGHUDFFRUGHPHQW
3RUWHSOHLQYHUUHVXU ࡱ+7 YHUUHYLWURFpUDPLTXH &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
LQR[ UpVHUYRLUVG
HDXH[WUDFWLEOHVGH XQHpFKHOOHGH$j'
+RPH&RQQHFW OLWUHV 3XLVVDQFHWRWDOHN:
/DUJHXUFP 9DSRULVDWLRQG
KXPLGLWp &kEOHGHUDFFRUGHPHQWPDYHF
%6 ࡱ $YHUWLVVHPHQWORUVTXHOHQLYHDXG
HDX SULVH
3RUWHSOHLQYHUUH ࡱ+7 HVWEDV 3UpYRLUXQFkEOH/$1
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 6RQGHWKHUPRPpWULTXHSRLQWVGH
+RPH&RQQHFW PHVXUHDYHFDUUrWDXWRPDWLTXHHW
/DUJHXUFP HVWLPDWLRQGXWHPSVGHFXLVVRQ
3URJUDPPHVDXWRPDWLTXHV
7KHUPRWHVW$IILFKDJHGHOD
WHPSpUDWXUHUpHOOH
)RQFWLRQVGXSURJUDPPDWHXUGXUpH
GHODFXLVVRQILQGHODFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUPLFURRQGHVFRPELQp6pULH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
%0 %0 SODFpHHQGHKRUVGHODQLFKH
G
HQFDVWUHPHQW
² 3RUWHVDQVSRLJQpHRXYHUWXUH
DXWRPDWLTXH &RQVHLOVG
LQVWDOODWLRQSRXU
² 8WLOLVDWLRQGXPLFURRQGHVVHXORX O
LQWpJUDWLRQHQSDJHV
HQFRPELQDLVRQDYHFOHJULOHWOH
IRXU 9DOHXUVGHUDFFRUGHPHQW
² 3URJUDPPDWLRQMXVTX
jPRGHVGH 3XLVVDQFHWRWDOHN:
FXLVVRQFRQVpFXWLIVLQFOXDQWPRGH &kEOHGHUDFFRUGHPHQWPVDQV
0RGXOHGHFRPPDQGHEDV FRPELQpHWWHPSVGHUHSRV SULVH
&KDUQLqUHVjGURLWH ² (FUDQ7)7VHQVLWLI
%0 ࡱ ² $SSDUHLOVDQVEDQGHDXGH
3RUWHSOHLQYHUUHVXU ࡱ+7 FRPPDQGHDYHFPRGXOHGH
LQR[ FRPPDQGHVXUODSRUWHYLWUpH
/DUJHXUFP ² &RQWU{OHpOHFWURQLTXHGHOD
WHPSpUDWXUH
&KDUQLqUHVjJDXFKH ² 9ROXPHXWLOHOLWUHV
%0 ࡱ
3RUWHSOHLQYHUUHVXU ࡱ+7 3URJUDPPHV
LQR[ )RQFWLRQPLFURRQGHVSXLVVDQFHV
/DUJHXUFP :
)RQFWLRQIRXUDYHFPRGHVGHFXLVVRQ
/HSUL[FRPSUHQG &KDOHXUWRXUQDQWH&HWGH&
JULOOHSRXUFXLVVRQFRPELQpH j&
OqFKHIULWHHQYHUUH *ULOJUDQGHVXUIDFHFKDOHXU
WRXUQDQWHGH&j&
*ULOJUDQGHVXUIDFHDLUYHQWLOpGH
&j&
*ULOJUDQGHVXUIDFHSXLVVDQFHV
PD[:
0RGHVGHFXLVVRQPLFURRQGHV
FRPELQpVDYHFOHVSXLVVDQFHVGH
HW:
SURJUDPPHVDXWRPDWLTXHVVHORQOH
SRLGVUpJODEOHVLQGLYLGXHOOHPHQW
SURJUDPPHVGHGpFRQJpODWLRQ
SURJUDPPHVGHFXLVVRQ
SURJUDPPHVFRPELQpV
3RVVLELOLWpGHPpPRULVHUGHVUHFHWWHV
SHUVRQQHOOHV
%DQGHDXGHFRPPDQGH
2XYHUWXUHDXWRPDWLTXHGHODSRUWH
&RPPDQGHSDUERXWRQVURWDWLIVHW
pFUDQ7)7VHQVLWLI
$IILFKDJHWH[WHFODLU
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
7HFKQRORJLH,QQRZDYH 3ULVH
3UpFKDXIIDJHXOWUDUDSLGH
0HVXUHVHQPP
QLYHDX[GHFXLVVRQ
7KHUPRWHVW$IILFKDJHGHOD
WHPSpUDWXUHUpHOOH
(FODLUDJHKDORJqQHODWpUDO:
6pFXULWp
,VRODWLRQWKHUPLTXHGHODSRUWH
YLWUHV
7ULSOHVpFXULWpGHSRUWH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
(QFHLQWHGHFXLVVRQHQLQR[DYHFVROH
HQYLWURFpUDPLTXH
3DURLDUULqUHHQpPDLOFDWDO\WLTXH
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHVQRQUpYHUVLEOHV
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODYLWUHDYDQWGXIRXUPP
7HQLUFRPSWHGXGpERUGHPHQW
SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
(QFDVG
LQVWDOODWLRQHQDQJOHSUpYRLU
XQDQJOHG
RXYHUWXUHGHODSRUWHGH
&PLQLPXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUPLFURRQGHVFRPELQp6pULH (QFDVG
LQVWDOODWLRQHQDQJOHSUpYRLU
%0 %0 %0 %0 XQDQJOHG
RXYHUWXUHGHODSRUWHGH
&PLQLPXP
² 3RUWHVDQVSRLJQpHRXYHUWXUH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
DXWRPDWLTXH SODFpHHQGHKRUVGHODQLFKH
² 8WLOLVDWLRQGXPLFURRQGHVVHXORX G
HQFDVWUHPHQW
HQFRPELQDLVRQDYHFOHJULOHWOH
IRXU &RQVHLOVG
LQVWDOODWLRQSRXU
² 3URJUDPPDWLRQMXVTX
jPRGHVGH O
LQWpJUDWLRQHQSDJHV
FXLVVRQFRQVpFXWLIVLQFOXDQWPRGH
FRPELQpHWWHPSVGHUHSRV 9DOHXUVGHUDFFRUGHPHQW
² (FUDQ7)7VHQVLWLI 3XLVVDQFHWRWDOHN:
² $SSDUHLOVDQVEDQGHDXGH &kEOHGHUDFFRUGHPHQWPVDQV
0RGXOHGHFRPPDQGHKDXW FRPPDQGHDYHFPRGXOHGH SULVH
&KDUQLqUHVjGURLWH FRPPDQGHVXUODSRUWHYLWUpH
%0 ࡱ ² &RQWU{OHpOHFWURQLTXHGHOD
3RUWHSOHLQYHUUHVXU ࡱ+7 WHPSpUDWXUH
LQR[ ² 9ROXPHXWLOHOLWUHV
/DUJHXUFP
%0 ࡱ 3URJUDPPHV
3RUWHSOHLQYHUUH ࡱ+7 )RQFWLRQPLFURRQGHVSXLVVDQFHV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX :
/DUJHXUFP )RQFWLRQIRXUDYHFPRGHVGHFXLVVRQ
&KDOHXUWRXUQDQWH&HWGH&
&KDUQLqUHVjJDXFKH j&
%0 ࡱ *ULOJUDQGHVXUIDFHFKDOHXU
3RUWHSOHLQYHUUHVXU ࡱ+7 WRXUQDQWHGH&j&
LQR[ *ULOJUDQGHVXUIDFHDLUYHQWLOpGH
/DUJHXUFP &j&
%0 ࡱ *ULOJUDQGHVXUIDFHSXLVVDQFHV
3RUWHSOHLQYHUUH ࡱ+7 PD[:
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 0RGHVGHFXLVVRQPLFURRQGHV
/DUJHXUFP FRPELQpVDYHFOHVSXLVVDQFHVGH
HW:
0RGXOHGHFRPPDQGHEDV SURJUDPPHVDXWRPDWLTXHVVHORQOH
&KDUQLqUHVjGURLWH SRLGVUpJODEOHVLQGLYLGXHOOHPHQW
%0 ࡱ SURJUDPPHVGHGpFRQJpODWLRQ
3RUWHSOHLQYHUUHVXU ࡱ+7 SURJUDPPHVGHFXLVVRQ
LQR[ SURJUDPPHVFRPELQpV
/DUJHXUFP 3RVVLELOLWpGHPpPRULVHUGHVUHFHWWHV
%0 ࡱ SHUVRQQHOOHV
3RUWHSOHLQYHUUH ࡱ+7
6pULJUDSKLH$QWKUDFLWH*DJJHQDX %DQGHDXGHFRPPDQGH
/DUJHXUFP 2XYHUWXUHDXWRPDWLTXHGHODSRUWH
&RPPDQGHSDUERXWRQVURWDWLIVHW
&KDUQLqUHVjJDXFKH pFUDQ7)7VHQVLWLI
%0 ࡱ $IILFKDJHWH[WHFODLU
3RUWHSOHLQYHUUHVXU ࡱ+7 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
LQR[ 3RUWHjRXYHUWXUHODWpUDOH
/DUJHXUFP
%0 ࡱ &DUDFWpULVWLTXHV
3RUWHSOHLQYHUUH ࡱ+7 7HFKQRORJLH,QQRZDYH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 3UpFKDXIIDJHXOWUDUDSLGH 3ULVH
/DUJHXUFP QLYHDX[GHFXLVVRQ 0HVXUHVHQPP
7KHUPRWHVW$IILFKDJHGHOD
/HSUL[FRPSUHQG WHPSpUDWXUHUpHOOH
JULOOHSRXUFXLVVRQFRPELQpH (FODLUDJHKDORJqQHODWpUDO: 9XHODWpUDOH%0%6DXGHVVXVGH%2
OqFKHIULWHHQYHUUH
6pFXULWp
,VRODWLRQWKHUPLTXHGHODSRUWH
YLWUHV
7ULSOHVpFXULWpGHSRUWH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
(QFHLQWHGHFXLVVRQHQLQR[DYHFVROH
HQYLWURFpUDPLTXH
3DURLDUULqUHHQpPDLOFDWDO\WLTXH
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHVQRQUpYHUVLEOHV
3UpYRLUXQHQLFKHVDQVSDURLDUULqUH
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODYLWUHDYDQWGXIRXUPP
7HQLUFRPSWHGXGpERUGHPHQW
SRXUO
RXYHUWXUHGHVWLURLUVODWpUDX[
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
&DUDFWpULVWLTXHV
8QLWpGHEUR\DJHDYHFGLVTXHVHQ
FpUDPLTXHVDQVHQWUHWLHQ
&RPSDUWLPHQWVpSDUpSRXUXQHH
VRUWHGHFDIpPRXOX
3RPSHjHDX%DUGHSUHVVLRQ
'RXEOHPRXWXUHHWGRXEOHpEXOOLWLRQ
SRXUGHVERLVVRQVH[WUDIRUWHV
3RXUOHVERLVVRQVSDUGRXEOHF\FOH
GHPRXWXUHHWG
pEXOOLWLRQGHO
HDX
'LVWULEXWHXUDYHFV\VWqPHGHODLW
LQWpJUp
7LURLU6RXV9LGH6pULH
೦ '9
² ,QWpJUDEOHGDQVXQHQLFKHGH
PHXEOHKDXWHXUFP
² &RPSDUWLPHQW6RXV9LGH
K\JLpQLTXHHQLQR[KDXWHXUXWLOH
'9 ࡱ PD[LPDOHGHPP
)DoDGHYHUUHVXULQR[ ࡱ+7 ² QLYHDX[G·DVSLUDWLRQGDQVOH
/DUJHXUFP+DXWHXUFP FRPSDUWLPHQWPD[
'9 ࡱ ² QLYHDX[G·DVSLUDWLRQKRUV
)DoDGHHQYHUUH ࡱ+7 FRPSDUWLPHQWPD[
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² 'pWHFWLRQDXWRPDWLTXHGHOD
/DUJHXUFP+DXWHXUFP FRQQH[LRQSRXUODPLVH6RXV9LGH
GDQVXQFRQWHQDQWH[WHUQH
/HSUL[FRPSUHQG ² 7LURLUVDQVSRLJQpH
6DFVSHWLWPRGqOHSFV ² )HUPHWXUHGRXFH
6DFVJUDQGPRGqOHSFV
5HKDXVVHXU 8WLOLVDWLRQV
$GDSWDWHXUSRXUPLVH6RXV9LGH 0LVH6RXV9LGHSRXUFXLVVRQ
FRQWHQDQWVH[WHUQHV 6RXV9LGH
7X\DXSRXUPLVH6RXV9LGH 0LVH6RXV9LGHSRXUPDULQHU
$GDSWDWHXUSRXUPLVH6RXV9LGH UDSLGHPHQWHWDURPDWLVHU
ERXWHLOOHV 0LVH6RXV9LGHSRXUSURORQJHUOD
%RXFKRQVSRXUPLVH6RXV9LGH GXUpHGHFRQVHUYDWLRQ
ERXWHLOOHV 0LVH6RXV9LGHGDQVFRQWHQDQWV
H[WHUQHV
$FFHVVRLUHVHQRSWLRQ 0LVH6RXV9LGHGHOLTXLGHVGDQV
%$ ࡱ ERXWHLOOHVjO·H[WpULHXUGXFRPSDUWLPHQW
6DFVSRXUPLVH ࡱ+7
VRXVYLGHSHWLWPRGqOH %DQGHDXGHFRPPDQGH
PP[PPSLqFHV &RPPDQGHVSDUWRXFKHVVHQVLWLYHV
%$ ࡱ 3RLJQpHHQFDVWUpHHQEDVGHODIDoDGH
6DFVSRXUPLVH ࡱ+7 GXWLURLU
VRXVYLGHJUDQGPRGqOH
PP[PPSLqFHV &DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&KDUJHPD[LPDOHNJ
7DLOOHPD[LPDOHGXVDFGHPLVHVRXV
YLGHOPP[/PP
QLYHDX[GHWKHUPRVRXGXUHSRXU
GLIIpUHQWHVpSDLVVHXUVGHVDFV
%DUUHGHWKHUPRVRXGXUHDQWL
DGKpUHQWHDPRYLEOH
&RXYHUFOHHQYHUUHGHVpFXULWp
RXYHUWXUHDXWRPDWLTXHDSUqVPLVH
VRXVYLGH
5HKDXVVHXUSRXUPLVHVRXVYLGH
PPLQWpJUDEOH
(VSDFHXWLOHGDQVFRPSDUWLPHQW
OPP[/PP
0HPEUDQHSRXUpYLWHUOHUHIOX[GHV
OLTXLGHVHQFDVGHPLVHVRXVYLGHGDQV
XQFRQWHQDQWH[WHUQH
3URJUDPPHGHVpFKDJHSRXUODSRPSH
DVSLUDQWH
)RQFWLRQDODUPH
&RQVHLOVG
LQVWDOODWLRQ
0LVHHQSODFHREOLJDWRLUHGXILOWUHj
KXLOHGDQVODSRPSH
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODIDoDGHDYDQWGHO
DSSDUHLOPP
,QVWDOODWLRQ%6%0&0GLUHFWHPHQW
DXGHVVXVGH'9GDQVQLFKHGHFP
VDQVSODQFKHULQWHUPpGLDLUH
,QVWDOODWLRQSRVVLEOHVRXVOHSODQGH
WUDYDLORXGDQVXQHQLFKHLQGLYLGXHOOH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOHN:
&kEOHGHUDFFRUGHPHQWP
DYHFSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
7LURLU6RXV9LGH6pULH &RQVHLOVG
LQVWDOODWLRQSRXU
'9 O
LQWpJUDWLRQHQSDJHV
² 7RXWLQWpJUDEOHGDQVXQHQLFKHGH 9DOHXUVGHUDFFRUGHPHQW
PHXEOHKDXWHXUFP 3XLVVDQFHWRWDOHN:
² +DELOODJHQpFHVVDLUHDYHFIDoDGH &kEOHGHUDFFRUGHPHQWP
GHPHXEOHHWSRLJQpHDSSDUHQWHRX DYHFSULVH
LQWpJUpH
'9 ࡱ ² &RPSDUWLPHQW6RXV9LGH
7RXWLQWpJUDEOH ࡱ+7 K\JLpQLTXHHQLQR[KDXWHXUXWLOH
/DUJHXUFP+DXWHXUFP PD[LPDOHGHPP
² QLYHDX[G·DVSLUDWLRQGDQVOH
/HSUL[FRPSUHQG FRPSDUWLPHQWPD[
6DFVSHWLWPRGqOHSFV ² QLYHDX[G·DVSLUDWLRQKRUV
6DFVJUDQGPRGqOHSFV FRPSDUWLPHQWPD[
5HKDXVVHXU ² 'pWHFWLRQDXWRPDWLTXHGHOD
$GDSWDWHXUSRXUPLVH6RXV9LGH FRQQH[LRQSRXUODPLVH6RXV9LGH
FRQWHQDQWVH[WHUQHV GDQVXQFRQWHQDQWH[WHUQH
7X\DXSRXUPLVH6RXV9LGH ² )HUPHWXUHGRXFHV
$GDSWDWHXUSRXUPLVH6RXV9LGH
ERXWHLOOHV 8WLOLVDWLRQV
%RXFKRQVSRXUPLVH6RXV9LGH 0LVH6RXV9LGHSRXUFXLVVRQ6RXV
ERXWHLOOHV 9LGH
0LVH6RXV9LGHSRXUPDULQHU
$FFHVVRLUHVHQRSWLRQ UDSLGHPHQWHWDURPDWLVHU
%$ ࡱ 0LVH6RXV9LGHSRXUSURORQJHUOD
6DFVSRXUPLVH ࡱ+7 GXUpHGHFRQVHUYDWLRQ
VRXVYLGHSHWLWPRGqOH 0LVH6RXV9LGHGDQVFRQWHQDQWV
PP[PPSLqFHV H[WHUQHV
%$ ࡱ 0LVH6RXV9LGHGHOLTXLGHVGDQV
6DFVSRXUPLVH ࡱ+7 ERXWHLOOHVjO·H[WpULHXUGX
VRXVYLGHJUDQGPRGqOH FRPSDUWLPHQW
PP[PPSLqFHV
%DQGHDXGHFRPPDQGH
&RPPDQGHVSDUWRXFKHVVHQVLWLYHV
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&KDUJHPD[LPDOHNJ
7DLOOHPD[LPDOHGXVDFGHPLVHVRXV
YLGHOPP[/PP
QLYHDX[GHWKHUPRVRXGXUHSRXU
GLIIpUHQWHVpSDLVVHXUVGHVDFV
%DUUHGHWKHUPRVRXGXUHDQWLDGKpUHQWH
DPRYLEOH
&RXYHUFOHHQYHUUHGHVpFXULWp
RXYHUWXUHDXWRPDWLTXHDSUqVPLVH
VRXVYLGH
5HKDXVVHXUSRXUPLVHVRXVYLGH
PPLQWpJUDEOH
(VSDFHXWLOHGDQVFRPSDUWLPHQW
OPP[/PP
0HPEUDQHSRXUpYLWHUOHUHIOX[GHV
OLTXLGHVHQFDVGHPLVHVRXVYLGHGDQV
XQFRQWHQDQWH[WHUQH
3URJUDPPHGHVpFKDJHSRXUODSRPSH
DVSLUDQWH
)RQFWLRQDODUPH
&RQVHLOVG
LQVWDOODWLRQ
$WWHQWLRQSUpYRLUREOLJDWRLUHPHQWXQH
SRLJQpHDSSRVpHVXUODIDoDGH
G
KDELOODJHRXXQHSRLJQpHLQWpJUpH
SRXUSHUPHWWUHO
RXYHUWXUHGHFHW
DSSDUHLO
(VSDFHODWpUDOQpFHVVDLUHGHPLQL
PPHQWUHIDoDGHGHO
DSSDUHLOHW
SDQQHDXG
KDELOODJHGXPHXEOH
,QVWDOODWLRQ%6%0&0GLUHFWHPHQW
DXGHVVXVGH'9GDQVQLFKHGHFP
VDQVSODQFKHULQWHUPpGLDLUH
,QVWDOODWLRQSRVVLEOHVRXVOHSODQGH
WUDYDLORXGDQVXQHQLFKHLQGLYLGXHOOH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7LURLUFKDXIIDQW6pULH
:6
² 7LURLUFKDXIIDQWVDQVSRLJQpH
² (FODLUDJHLQWpULHXUOXPLQHX[
² )HUPHWXUHGRXFH
:6 ࡱ ² ,QWpULHXUHQLQR[DYHFVROHHQYHUUH
)DoDGHYHUUHVXULQR[ ࡱ+7 ² QLYHDX[GHUpJODJHDYHF
/DUJHXUFP+DXWHXUFP WHPSpUDWXUHVGH&j&
VROHHQYHUUH
² (JDOHPHQWSRXUODSUpSDUDWLRQHWOD
FXLVVRQGHVDOLPHQWVDLQVLTXH
SRXUOHPDLQWLHQDXFKDXGGHV
DOLPHQWV
0RGHVGHFXLVVRQ
'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
3UpFKDXIIDJHGHSHWLWVFRQWHQDQWV
SRXUERLVVRQV
0DLQWLHQDXFKDXG&XLVVRQEDVVH
WHPSpUDWXUHG
DOLPHQWV
3UpFKDXIIHUODYDLVVHOOH
%DQGHDXGHFRPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
3RLJQpHHQFDVWUpHHQEDVGHODIDoDGH
GXWLURLU
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&DSDFLWpYDLVVHOOHSRXUSHUVDYHF
DVVLHWWHVGLDPFPHWEROVjVRXSH
VDODGLHUVHWXQSODWGHVHUYLFHVHORQ
WDLOOH
&KDUJHPD[LPDOHNJ
'LPHQVLRQVLQWpULHXUHVXWLOHV
/[+[3PP
5pVLVWDQFHVRXVODVROHHQYHUUHSRXU
XQHQWUHWLHQIDFLOH
9HQWLODWLRQLQWpJUpHDVVXUDQWXQH
UpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXIIDJHSOXVUDSLGHGHOD
YDLVVHOOH
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQW
VXUODIDoDGHHQYHUUH
6ROHHQYHUUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODIDoDGHDYDQWGHO
DSSDUHLOPP
/RUVGHO
LQVWDOODWLRQG
XQ%2%6
DXGHVVXVGX:6SUpYRLUXQSODQFKHU
LQWHUPpGLDLUHpSDLVVHXUPP
,QVWDOODWLRQ%6DXGHVVXV:6GDQV
XQHQLFKHGHFPDYHFXQSODQFKHU 9XHODWpUDOH:6VRXV%6
LQWHUPpGLDLUHHVSDFHGHPPHQWUH
:6HW%6
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHDEVRUEpHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
7LURLUFKDXIIDQW6pULH
:6
² 7LURLUFKDXIIDQWVDQVSRLJQpH
² (FODLUDJHLQWpULHXUOXPLQHX[
² )HUPHWXUHGRXFH
² ,QWpULHXUHQLQR[DYHFVROHHQYHUUH
:6 ࡱ ² QLYHDX[GHUpJODJHDYHF
)DoDGHYHUUHVXULQR[ ࡱ+7 WHPSpUDWXUHVGH&j&
/DUJHXUFP+DXWHXUFP VROHHQYHUUH
:6 ࡱ ² (JDOHPHQWSRXUODSUpSDUDWLRQHWOD
)DoDGHHQYHUUH ࡱ+7 FXLVVRQGHVDOLPHQWVDLQVLTXH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX SRXUOHPDLQWLHQDXFKDXGGHV
/DUJHXUFP+DXWHXUFP DOLPHQWV
0RGHVGHFXLVVRQ
'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
3UpFKDXIIDJHGHSHWLWVFRQWHQDQWV
SRXUERLVVRQV
0DLQWLHQDXFKDXG&XLVVRQEDVVH
WHPSpUDWXUHG
DOLPHQWV
3UpFKDXIIHUODYDLVVHOOH
%DQGHDXGHFRPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
3RLJQpHHQFDVWUpHHQEDVGHODIDoDGH
GXWLURLU
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&DSDFLWpYDLVVHOOHSRXUSHUVDYHF
DVVLHWWHVGLDPFPHWEROVjVRXSH
VDODGLHUVHWXQSODWGHVHUYLFHVHORQ
WDLOOH
&KDUJHPD[LPDOHNJ
'LPHQVLRQVLQWpULHXUHVXWLOHV
/[+[3PP
5pVLVWDQFHVRXVODVROHHQYHUUHSRXU
XQHQWUHWLHQIDFLOH
9HQWLODWLRQLQWpJUpHDVVXUDQWXQH
UpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXIIDJHSOXVUDSLGHGHOD
YDLVVHOOH
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQW
VXUODIDoDGHHQYHUUH
6ROHHQYHUUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODIDoDGHDYDQWGHO
DSSDUHLOPP
,QVWDOODWLRQ%6%0&0GLUHFWHPHQW
DXGHVVXVGH:6GDQVXQHQLFKHGH
FPVDQVSODQFKHULQWHUPpGLDLUH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHDEVRUEpHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7LURLUFKDXIIDQW6pULH
:6
² 7LURLUFKDXIIDQWVDQVSRLJQpH
² (FODLUDJHLQWpULHXUOXPLQHX[
² )HUPHWXUHGRXFH
² ,QWpULHXUHQLQR[DYHFVROHHQYHUUH
² QLYHDX[GHUpJODJHDYHF
WHPSpUDWXUHVGH&j&
VROHHQYHUUH
² (JDOHPHQWSRXUODSUpSDUDWLRQHWOD
:6 ࡱ FXLVVRQGHVDOLPHQWVDLQVLTXH
)DoDGHYHUUHVXULQR[ ࡱ+7 SRXUOHPDLQWLHQDXFKDXGGHV
/DUJHXUFP+DXWHXUFP DOLPHQWV
:6 ࡱ
)DoDGHHQYHUUH ࡱ+7 0RGHVGHFXLVVRQ
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
/DUJHXUFP+DXWHXUFP 3UpFKDXIIDJHGHSHWLWVFRQWHQDQWV
SRXUERLVVRQV
0DLQWLHQDXFKDXG&XLVVRQEDVVH
WHPSpUDWXUHG
DOLPHQWV
3UpFKDXIIHUODYDLVVHOOH
%DQGHDXGHFRPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
3RLJQpHHQFDVWUpHHQEDVGHODIDoDGH
GXWLURLU
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&DSDFLWpYDLVVHOOHSRXUSHUVDYHF
DVVLHWWHVGLDPFPHWEROVjVRXSH
VDODGLHUVHWXQSODWGHVHUYLFHVHORQ
WDLOOH
&KDUJHPD[LPDOHNJ
'LPHQVLRQVLQWpULHXUHVXWLOHV
/[+[3PP
5pVLVWDQFHVRXVODVROHHQYHUUHSRXU
XQHQWUHWLHQIDFLOH
9HQWLODWLRQLQWpJUpHDVVXUDQWXQH
UpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXIIDJHSOXVUDSLGHGHOD
YDLVVHOOH
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQW
VXUODIDoDGHHQYHUUH
6ROHHQYHUUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODIDoDGHDYDQWGHO
DSSDUHLOPP
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHDEVRUEpHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
$FFHVVRLUHVSRXU6pULH
1RWLILFDWLRQWRXVOHVDFFHVVRLUHVQHV
DGDSWHQWSDVjWRXVOHVIRXUV3OXVGHSUpFLVLRQVGDQVOHVWDEOHDX[SDJHVj
%$ ࡱ
5pFLSLHQWDQWLDGKpUHQW ࡱ+7
QRQSHUIRUp %6 ࡱ
SURIRQGHXUPPOLWUHV 3HOOH ࡱ+7
SRXUHQIRXUQHUSDLQSL]]DV
6HWGH
%$ ࡱ
5pFLSLHQWDQWLDGKpUHQW ࡱ+7
SHUIRUp
SURIRQGHXUPPOLWUHV
*1 ࡱ
$GDSWDWHXU ࡱ+7
SRXUUpFLSLHQW*DVWUR1RUP
HWJULOOH
3RXUWRXVOHVIRXUVFRPELQpYDSHXU
%$ ࡱ %6%63VDXI%63
7{OHjSDWLVVHULH ࡱ+7
pPDLOOpH
3URIRQGHXUPP
3RXUIRXUVS\URO\VHFP
%$ ࡱ
7{OHjSDWLVVHULH ࡱ+7
pPDLOOpH
3URIRQGHXUPP
3RXUIRXUVS\URO\VHFP
&/6 ࡱ
&DUWRXFKHVGHQHWWR\DJH
ࡱ+7
6HWGH
3RXUIRXUVFRPELYDSHXU
jUDFFRUGHPHQWGLUHFW
&RQVHLO
7RXVOHVDFFHVVRLUHVQHV
DGDSWHQWSDV
GDQVWRXVOHVIRXUV3OXVGHSUpFLVLRQV
GDQVOHVWDEOHDX[SDJHVj
3RXUFRPPDQGHUFHVDFFHVVRLUHV
HQOLJQHVHUHSRUWHUDX[SDJHVj
$FFHVVRLUHVHWDFFHVVRLUHVVSpFLDX[SRXU6pULH
/LYUpGHVpULH
$FFHVVRLUHVSpFLDO
)RXUV6pULH
VDQVIRQFWLRQIDLWRXW
$FFHVVRLUHVHWDFFHVVRLUHVVSpFLDX[SRXU6pULH
/LYUpGHVpULH
$FFHVVRLUHVSpFLDO
)RXUV6pULH
)RXUV6pULH
7\SHG
DSSDUHLO )RXUGRXEOH )RXU
&KDUQLqUHVjGURLWHJDXFKH %;%; %2%2
3RUWHSOHLQYHUUHVXULQR[ %; %2
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH(>FLHQFHpQHUJpWLTXHVHORQQRUPHV(8(1HW
9ROXPHXWLOH O SDUFRPSDUWLPHQWGHFXLVVRQ
'LPHQVLRQVLQWpULHXUHV/[+[3 FP [[ [[
&ODVVHG
HZFDFLWppQHUJpWLTXHHQ&KDOHXUWRXUQDQWH(FR $SDUFRPSDUWLPHQWGHFXLVVRQ $
,QGH[(ZFLHQFH(QHUJpWLTXH((, HQKDXWHQEDV
&RQVRPPDWLRQ6ROH9RWH N:K SDUFRPSDUWLPHQWGHFXLVVRQ
&RQVRPPDWLRQ&KDOHXUWRXUQDQWH(FR N:K HQKDXWHQEDV
6RXUFHG
pQHUJLH (OHFWULTXH (OHFWULTXH
0RGHVGHFXLVVRQ
3ODJHGHWHPSpUDWXUH & ² ²
&KDOHXUWRXUQDQWH&KDOHXUWRXUQDQWH(FR9RWH6ROH
9RWH6ROH&KDOHXUWRXUQDQWH6ROH
9RWH6ROH
9RWH6ROH
&KDOHXUWRXUQDQWH6ROH
*ULOJUDQGHVXUIDFH$LUYHQWLOp
*ULOJUDQGHVXUIDFH
*ULO(FR
&XLVVRQVXUSLHUUHjSDLQHWjSL]]DV
&XLVVRQGDQVIDLWRXWHQIRQWH
(WXYH'pFRQJpODWLRQ0DLQWLHQDXFKDXG
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWFHQWUDOEDV ²² ²²
2XYHUWXUHDXWRPDWLTXHGHSRUWH ²
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
5HFHWWHVSHUVRQQHOOHV ²
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
6RQGHWKHUPRPpWULTXHDPRYLEOHjSRLQWVGHPHVXUH VHXOHPHQWHQEDV
3URJUDPPHVDXWRPDWLTXHV ²
7RXUQHEURFKH VHXOHPHQWHQEDV
3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
)RQFWLRQVDLVLUGDQVIDLWRXW
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
3UpFKDXWDJHUDSLGH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHKDORJqQHYRWH : SDUFRPSDUWLPHQWGHFXLVVRQ
(FODLUDJHKDORJqQHODWpUDO : SDUFRPSDUWLPHQWGHFXLVVRQ [
1LYHDX[GHFXLVVRQ 1E
+RPH&RQQHFWYLD/$1RX:L)L ² ó
$FFHVVRLUHV
7{OHjSkWLVVHULHpPDLOOpH SDUFRPSDUWLPHQWGHFXLVVRQ
7DLOOHGHODSOXVJUDQGHW{OHGHFXLVVRQ FPò
*ULOOH SDUFRPSDUWLPHQWGHFXLVVRQ
/qFKHIULWHpPDLOOp*ULOOHSRXU/qFKHIULWH SDUFRPSDUWLPHQWGHFXLVVRQ
/qFKHIULWHHQYHUUH ² ²
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHDYHFSOXVLHXUVYLWUHV YLWUHV YLWUHV
6pFXULWpHQIDQWV9HUURXLOODJHSRUWH&RXSXUHGHVpFXULWp ²
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
$XWRQHWWR\DJHSDUS\URO\VH
(PDLOEOHX*DJJHQDX
&DWDO\VHXUpOHFWULTXHGHIXPpHVSXUL=DQWO
DLUUHMHWp
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKHò$FFHVVRLUHHQRSWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)RXUV6pULH
[[ [[ [[
[[ [[ [[
[[ [[ [[
$ $ $
(OHFWULTXH (OHFWULTXH (OHFWULTXH
²² ²² ²²
²
² ²
²
[ ²
ó ó ó
%$òò %$òò
7\SHG
DSSDUHLO )RXU&RPELYDSHXU )RXU&RPELYDSHXU
&KDUQLqUHVjGURLWHjJDXFKH %6%6 %6%6
3RUWHSOHLQYHUUHVXULQR[ %6%6 %6%6
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH %6%6
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH(IILFLHQFHpQHUJpWLTXHVHORQQRUPH(8(1(7
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
&ODVVHG
HZFLHQFHpQHUJpWLTXHHQ&KDOHXUWRXUQDQWHG
KXPLGLWp $ $
,QGH[(ZFLHQFH(QHUJpWLTXH((,
&RQVRPPDWLRQHQ&KDOHXUWRXUQDQWHG
KXPLGLWp N:K
6RXUFHG
pQHUJLH PLQ (OHFWULTXH (OHFWULTXH
0RGHVGHFXLVVRQ
3ODJHGHWHPSpUDWXUH & ² ²
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&XLVVRQEDVVHWHPSpUDWXUH
&XLVVRQVRXVYLGH
*ULOJUDQGHVXUIDFHQLYHDXKXPLGLWp
*ULOJUDQGHVXUIDFHQLYHDXKXPLGLWp
*ULOJUDQGHVXUIDFH$LUYHQWLOp
)HUPHQWDWLRQ
'pFRQJpODWLRQ
5pJpQpUDWLRQ
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWEDV ² ²
2XYHUWXUHDXWRPDWLTXHGHSRUWH
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
5HFHWWHVSHUVRQQHOOHV
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
9DSHXUVDQVSUHVVLRQ
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
*ULOJUDQGHVXUIDFHGHUULqUHYLWURFpUDPLTXH :
(OLPLQDWLRQGHODYDSHXUYDSRULVDWLRQG
KXPLGLWp
6RQGHWKHUPRPpWULTXHjSRLQWVGHPHVXUH
3URJUDPPHVDXWRPDWLTXHV
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
'pWHFWLRQDXWRPDWLTXHGXSRLQWG
pEXOOLWLRQ
$ZFKDJHFDSDFLWpGHODFDUWRXFKHGH=OWUDJH
&DSDFLWpGXUpVHUYRLUG
HDXDYHUWLVVHPHQWQLYHDXPLQLPXP O ²² ²²
(FODLUDJHODWpUDO/(' : [ [
1LYHDX[GHFXLVVRQLQWpULHXULQR[ 1E
+RPH&RQQHFWYLD/$1RX:L)Ló
$FFHVVRLUHV
7DLOOHGXSOXVJUDQGSODWGHFXLVVRQ FPò
*ULOOH
5pFLSLHQWGHFXLVVRQLQR[PPSHUIRUpQRQSHUIRUp
&DUWRXFKHVGHQHWWR\DJH
7DEOHWWHVGHGpWDUWUDJH ò ò
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHDYHFSOXVLHXUVYLWUHV YLWUHV YLWUHV
6pFXULWpHQIDQW9HUURXLOODJHGHSRUWH&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
3URJUDPPHGHQHWWR\DJH
3URJUDPPHGHGpWDUWUDJHSURJUDPPHGHVpFKDJH
6pFKDJHDXWRPDWLTXHjOD=QGXSURJUDPPHGHFXLVVRQ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
5DFFRUGHPHQWGLUHFWDUULYpHHWpYDFXDWLRQG
HDX
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKHò5pIpUHQFHSLqFHGpWDFKpHRQOLQH
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)RXUV6pULH
[[ [[ [[
[[ [[ [[
[[ [[ [[
$ $ $
(OHFWULTXH (OHFWULTXH (OHFWULTXH
² ² ²
² ²
² ²
² ²
²²
[ [ [
7\SHG
DSSDUHLO )RXUFRPELQpPLFURRQGHV )RXUFRPELQpPLFURRQGHV )RXUFRPELQpPLFURRQGHV
&KDUQLqUHVjGURLWHjJDXFKH %0%0 %0%0 %0%0
3RUWHSOHLQYHUUHVXULQR[ %0 %0 %0
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH %0 %0
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[ [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[ [[
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[ [[
0RGHVGHFXLVVRQ
3XLVVDQFHPD[LPXPGXPLFURRQGHV :
1LYHDX[GHSXLVVDQFHGXPLFURRQGHV 1E
&KDOHXUWRXUQDQWHDYHFUpJXODWLRQGHWHPSpUDWXUH & ² ² ²
*ULOJUDQGHVXUIDFHFKDOHXUWRXUQDQWHDYHFUpJXODWLRQ
& ² ² ²
GHWHPSpUDWXUH
*ULOJUDQGHVXUIDFHDLUYHQWLOpDYHFUpJXODWLRQGHWHPSpUDWXUH & ² ² ²
*ULOJUDQGHVXUIDFHTXDUW]DYHFQLYHDX[G
LQWHQVLWp 1E
3XLVVDQFHPD[LPXPGXJULO :
3XLVVDQFHHQFKDOHXUWRXUQDQWH :
3XLVVDQFHPD[LPXPGXPLFURRQGHVHQFRPELQDLVRQ
:
DYHFJULOHWIRXU
2SpUDWLRQVpTXHQFpHVMXVTX
jPRGHVLQFO
3URJUDPPDWLRQG
RSpUDWLRQFRPELQpHVHWWHPSVGHUHSRV
3URJUDPPHVDXWRPDWLTXHVVHORQOHSRLGV 1E
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWEDV ² ² ²
2XYHUWXUHDXWRPDWLTXHGHSRUWH
1EGH
$ZFKDJHWH[WHFODLU
ODQJXHV
5HFHWWHVSHUVRQQHOOHV
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
3UpFKDXWDJHUDSLGH
6\VWqPH,QQRZDYH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHLQWpULHXUODWpUDO :
1LYHDX[GHFXLVVRQ 1E
$FFHVVRLUHV
3ODWHDXYHUUH
*ULOOH
7LJHHQYHUUH
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXH
6pFXULWpHQIDQW&RXSXUHGHVpFXULWp
7ULSOHVpFXULWpGHSRUWH
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
3DURLDUULqUHHQpPDLOFDWDO\WLTXH
,QWpULHXULQR[DYHFVROHHQYLWURFpUDPLTXH
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKH
0DFKLQHjFDIpH[SUHVVRWRXWDXWRPDWLTXH6pULH )RXUV6pULH
7\SHG
DSSDUHLO 0DFKLQHH[SUHVVRWRXWDXWRPDWLTXH
3RUWHSOHLQYHUUHVXULQR[ &0
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH &0
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[
3RLGVQHW NJ
7\SHGHERLVVRQ
5LVWUHWWR[5LVWUHWWR
([SUHVVR[([SUHVVR
([SUHVVR0DFFKLDWR[([SUHVVR0DFFKLDWR
&DIp[&DIp
$PpULFDQR[$PpULFDQR
&DIp/DWWH[&DIp/DWWH
/DWWH0DFFKLDWR[/DWWH0DFFKLDWR
&DSSXFLQR[&DSSXFLQR
)ODW:KLWH[)ODW:KLWH
0RXVVHGHODLW[0RXVVHGHODLW
/DLWFKDXG[/DLWFKDXG
(DXFKDXGH[(DXFKDXGH
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXW
2XYHUWXUHDXWRPDWLTXHGHSRUWH
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
)RQFWLRQVERLVVRQVSHUVRQQDOLVDEOHVHWPpPRULVDEOHV 1E
5pJODJHSRVVLEOHGHVWDLOOHVGHWDVVHV 1E
1LYHDX[G
LQWHQVLWpGXFDIp 1E
1LYHDX[GHWHPSpUDWXUHSRXUOHFDIp 1E
1LYHDX[GHWHPSpUDWXUHSRXUO
HDXFKDXGH &
&KRL[GHODTXDQWLWpGHODLW
%XVHGHVRUWLHGXFDIpUpJODEOHHQKDXWHXU FP
5pJODJHVGHEDVHSURJUDPPpV
3RVVLELOLWpG
pFODLUDJH 1E
8QLWpGHPHVXUH POYR]
5pJODJHW\SHHWWDLOOHGHERLVVRQGpVLUpHVHORQODWDLOOHGHODWDVVH
0LVHHQYHLOOH PLQK PLQjK
'XUHWpGHO
HDX 1EGHQLYHDX[ V\VWqPHG
DGRXFLVVHXUG
HDX
)LOWUHjHDX
&DUDFWpULVWLTXHV
7HFKQRORJLH$URPDSHUPHWWDQWGHGpJDJHUWRXWO
DU{PHGXFDIp
%UR\HXUFpUDPLTXH
$MXVWHPHQWDXWRPDWLTXHGHODTXDQWLWpGHFDIpPRXOX
&KDXWHHDX
3RPSHjHDX EDU
'LVWULEXWHXUDYHFV\VWqPHGHODLWLQWpJUp
5pVHUYRLUjODLWLVROp O
5pVHUYRLUjJUDLQV J
&RPSDUWLPHQWVpSDUpSRXUDXWUHW\SHGHFDIp
5pJODJHGXGHJUpGHPRXWXUH
9ROXPHGXFRPSDUWLPHQWG
DMXVWHPHQWDXWRPDWLTXH J j
GHODTXDQWLWpGHFDIp
)RQFWLRQGRXEOHGRVHSRXUERLVVRQVH[WUDIRUWH
)RQFWLRQGRXEOHPRXWXUHHWGRXEOHpEXOOLWLRQGHO
HDXSRXUOHVERLVVRQVSDU
5pVHUYRLUG
HDXDPRYLEOH O
&DUWRXFKHGH=OWUDJHSRXUOHUpVHUYRLUG
HDX
6\VWqPHGHQHWWR\DJH6LQJOH3RUWLRQ&OHDQLQJDSUqVFKDTXHXWLOLVDWLRQ
$ZFKDJHpOHFWURQLTXHSRXUOHUHPSODFHPHQWGX=OWUHjHDX
&RQWU{OHpOHFWURQLTXHGXWDX[GHUHPSOLVVDJHGHVUpVHUYRLUVG
HDXHWGHFDIp
&RQWU{OHpOHFWURQLTXHGXWDX[GHUHPSOLVVDJHGHVEDFV
UpFXSpUDWHXUGXPDUFGHFDIpHWG
HDX
(FODLUDJH/('LQWpJUp
6pFXULWp
6pFXULWpHQIDQW
1HWWR\DJH
3URJUDPPHDXWRPDWLTXHGHULQoDJHORUVGHODPLVHHQURXWHjO
DUUrW
3URJUDPPHDXWRPDWLTXHUDSLGHGHULQoDJHGXV\VWqPHjODLW
3URJUDPPHDXWRPDWLTXHGHQHWWR\DJHHWGHGpWDUWUDJH
3URJUDPPHDXWRPDWLTXHGHQHWWR\DJH
3URJUDPPHDXWRPDWLTXHGHGpWDUWUDJH
&KDPEUHGHFRPSUHVVLRQ
%DFVGHUpFXSpUDWLRQGXPDUFGHFDIpHWG
HDXODYDEOHDXODYHYDLVVHOOH
0RXVVHXUGHODLWODYDEOHDXODYHYDLVVHOOH
3URJUDPPHGHYLGDQJHSRXUSUpSDUHUO
DSSDUHLOSRXUOHVYDFDQFHVRXOHWUDQVSRUW
)RQFWLRQYLGDQJHGXUpVHUYRLUjJUDLQVSRXUFKDQJHPHQWGHW\SHGHFDIp
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKH
7LURLUGHPLVHVRXVYLGH6pULH
7\SHG
DSSDUHLO 7LURLUPLVHVRXVYLGH 7LURLUPLVHVRXVYLGH
)DoDGHSOHLQYHUUHVXULQR[ '9
)DoDGHSOHLQYHUUH*DJJHQDX$QWKUDFLWH '9
7RXWLQWpJUDEOHIDoDGHKDELOODEOHPHXEOHGHFXLVLQHSUpYRLUSRLJQpHRXSRLJQpHLQWpJUpH '9
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
7DLOOHPD[LPDOHGHVVDFVGHPLVHVRXVYLGH/[O PP [ [
)RQFWLRQV
1LYHDX[GHPLVHVRXVYLGH PD[ PD[
1LYHDX[GHWKHUPRVRXGXUH
0LVHVRXVYLGHGHVDFVHWFRQWHQDQWV
0LVHVRXVYLGHGHUpFLSLHQWVHWGHERXWHLOOHV
0LVHVRXVYLGHGHOLTXLGH
3URJUDPPHGHVpFKDJHGHODSRPSH
$ODUPHGHG\VIRQFWLRQQHPHQW
%DQGHDXGHFRPPDQGH
&RPPDQGHjWRXFKHVVHQVLWLYHV
7LURLUVDQVSRLJQpH
3RLJQpHHQFDVWUpH
2XYHUWXUHDYHFV\VWqPHSXVKWRRSHQ ² ²
)HUPHWXUHGRXFH
&DUDFWpULVWLTXHV
&RPSDUWLPHQWGHPLVHVRXVYLGHHQLQR[
&KDUJHPD[LPDOH NJ
+DXWHXUXWLOH PP
&RXYHUFOHHQYHUUHGHVpFXULWp
%DUUHGHWKHUPRVRXGXUHDQWLDGKpUHQWHDPRYLEOH
5pKDXVVHXU
$GDSWDWHXUDYHFWX\DXSRXUPLVHVRXVYLGHHQGHKRUVGXFRPSDUWLPHQW
'LPHQVLRQGHODVXUIDFHXWLOHGDQVOHFRPSDUWLPHQW/[O PP [ [
0HPEUDQHDQWLUHWRXUGXOLTXLGHSRXUPLVHVRXVYLGHGDQVFRQWHQDQWVH[WHUQHV
6DFVGHPLVHVRXVYLGHSHWLWPRGqOHPP[PP SLqFHV
6DFVGHPLVHVRXVYLGHJUDQGPRGqOHPP[PP SLqFHV
%RXFKRQVGHPLVHVRXVYLGHSRXUERXWHLOOHV SLqFHV
$GDSWDWHXUSRXUERXFKRQVSRXUPLVHVRXVYLGHGHERXWHLOOHV
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKH
7LURLUVFKDXIIDQWV6pULH )RXUV6pULH
7\SHG
DSSDUHLO 7LURLUFKDXIIDQW 7LURLUFKDXIIDQW 7LURLUFKDXIIDQW
)DoDGHSOHLQYHUUHVXULQR[ :6 :6 :6
)DoDGHSOHLQYHUUH*DJJHQDX$QWKUDFLWH :6 :6
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[ [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGHO
DSSDUHLO PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[ [[
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[ [[
&DSDFLWpYDLVVHOOHSRXUXQPHQXDYHFDVVLHWWHVGLDPFP
1EUH
HWEROVjVRXSHVDODGLHUVVXSSOpPHQWDLUHVHWXQSODWGHVHUYLFH
GHSHUVRQQHV
VHORQWDLOOHGHODYDLVVHOOH
0RGHVGHFXLVVRQ
'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
3UpFKDXWDJHGHSHWLWVFRQWHQDQWVSRXUERLVVRQV
0DLQWLHQDXFKDXG&XLVVRQEDVVHWHPSpUDWXUHG
DOLPHQWV
3UpFKDXWHUODYDLVVHOOHSODWV
9HQWLODWHXUUpVLVWDQFHGHVROH
1LYHDX[GHUpJODJHDYHFWHPSpUDWXUHVGH&j&VROH QLYHDX[GHSXLV
HQYHUUH VDQFH
&RPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQWVXUODIDoDGHHQYHUUH
7LURLUVDQVSRLJQpH
3RLJQpHHQFDVWUpH
)HUPHWXUHGRXFH
&DUDFWpULVWLTXHV
(FODLUDJHLQWpULHXUOXPLQHX[
&KDUJHPD[LPDOH NJ
,QWpULHXUHQLQR[DYHFVROHHQYHUUH
9HQWLODWLRQLQWpJUpHXQHUpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXWDJHSOXVUDSLGH
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
)RXUV6pULH
)RXUV6pULH
9XHG·HQVHPEOHGHVFRPELQDLVRQVG·DSSDUHLOVGHOD6pULH
)RXUV6pULH
)RXUVFRPELYDSHXU6pULH
)RXUVYDSHXU6pULH
)RXUVPLFURRQGHVFRPELQpV6pULH
)RXUVPLFURRQGHV6pULH
0DFKLQHVjFDIpH[SUHVVRWRXWDXWRPDWLTXH6pULH
7LURLU6RXV9LGH6pULH
7LURLUVFKDXIIDQWV6pULH
$FFHVVRLUHV6pULH
'RQQpHVWHFKQLTXHV6pULH
9XHG·HQVHPEOHGHVFRPELQDLVRQVG·DSSDUHLOV6pULH
7RXWHVOHVFRPELQDLVRQVSUpVHQWpHVVRQWGLVSRQLEOHVGDQVFHVFRORULV
&LFRQWUHOHVSULQFLSDOHV
FRPELQDLVRQVSHUPHWWDQWXQH
FRPELQDLVRQSDUIDLWHGHVIRXUV
IRXUVYDSHXUVHWFRPELYDSHXU
IRXUVPLFURRQGHVHWPLFURRQGHV
FRPELQpVPDFKLQHVjFDIpWLURLUV
FKDXIIDQWVWLURLUVGHPLVHVRXVYLGH
HWODYHYDLVVHOOH
*DJJHQDX$QWKUDFLWH *DJJHQDX0HWDOOLF *DJJHQDX6LOYHU
(QFDVGHSOXVLHXUVDOWHUQDWLYHV
%63%03ODSKRWRFRUUHVSRQG
jODqUHUpIpUHQFHFLWpH
&RPELQDLVRQG·DSSDUHLOVHQFRORQQH &RPELQDLVRQVG
DSSDUHLOVHQFRORQQHODUJHXUFP
/RUVGHO·LPSODQWDWLRQHWGHOD
FRPPDQGHYHLOOHUj
/HVHQVG·RXYHUWXUHGHODSRUWH
GRLWrWUHLGHQWLTXH
/HVFKDUQLqUHVGHODSRUWHQHVRQW
SDVUpYHUVLEOHVFKDUQLqUHVjGURLWH
FKDUQLqUHVjJDXFKH
$XFXQDSSDUHLOQHSHXWrWUH
LQVWDOOpDXGHVVXVG·XQ%63
$XGHVVXVG·XQ')LQVWDOOHU
XQLTXHPHQWXQDSSDUHLODYHF
PRGXOHGHFRPPDQGHKDXW
/HVDSSDUHLOVLQVWDOOpVDXGHVVXV
GX')QpFHVVLWHQWXQHQLFKHGHODU
JHXUFP/DODUJHXUGHODQLFKH
GXODYHYDLVVHOOHHVWGHFP
&RPELQDLVRQG·DSSDUHLOVF{WHjF{WH
/RUVGHO·LPSODQWDWLRQHWGHOD
%63%03 %03
FRPPDQGHYHLOOHUj
%23߹߹ %23߹߹
:63 :63
/HVFKDUQLqUHVGHVSRUWHVSHXYHQW
rWUHRSSRVpHVRXF{WHjF{WHVDQV
HQWUDYHUO·DQJOHG·RXYHUWXUHGHOD
SRUWH
/HVFKDUQLqUHVGHODSRUWHQHVRQW
SDVUpYHUVLEOHVFKDUQLqUHVjGURLWH
FKDUQLqUHVjJDXFKH
8QHVSDFHG·DXPLQLPXPPP
HVWQpFHVVDLUHHQWUHOHVSRUWHV
/HVIRXUVYDSHXUIRXUVFRPEL
YDSHXUIRXUVPLFURRQGHVIRXUV
PLFURRQGHVFRPELQpVHWPDFKLQHV
jFDIpLQVWDOOpVDXGHVVXVG·XQ
WLURLUFKDXIIDQWKDXWHXUFP
RQWODPrPHKDXWHXUTX·XQIRXUGH
ODUJHXUFP
%23)RXU
%63)RXUYDSHXU %63%03 %03%63߹߹ %03
RXIRXUFRPELYDSHXU %03 &03 &03
%03)RXUPLFURRQGHV :63 :63 :63
RXIRXUPLFURRQGHVFRPELQp
&030DFKLQHjFDIpWRXWDXWRPDWLTXH
'93 7LURLUPLVHVRXVYLGH
:637LURLUFKDXIIDQW
')/DYHYDLVVHOOH
&RPELQDLVRQVG
DSSDUHLOVF{WHjF{WHODUJHXUFP
&RPELQDLVRQVG
DSSDUHLOVHQFDUUpDYHFWLURLUFKDXIIDQWODUJHXUFP
%63%03 %03%63߹߹
%23߹߹ &03
:63'93
)RXU6pULH %$ ࡱ 1HWWR\DJH
%23 %23 3LHUUHjSDLQHWj ࡱ+7 $XWRQHWWR\DJHSDUS\URO\VH
SL]]DV (PDLOEOHX*DJJHQDX
² ,QVWDOODWLRQjIOHXU &RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D &DWDO\VHXUpOHFWULTXHGHIXPpHV
² $XWRQHWWR\DJHS\URO\VH FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW SXULILDQWO
DLUUHMHWp
² PRGHVGHFXLVVRQDYHFVRQGH 1
HVWSDVFRPELQDEOHDYHFOHV\WqPH
WKHUPRPpWULTXHHWIRQFWLRQSLHUUH GHUDLOWpOHVFRSLTXH &RQVHLOVG
LQVWDOODWLRQ
jSDLQHWjSL]]DV %$ ࡱ &KDUQLqUHVQRQUpYHUVLEOHV
² 3URJUDPPHVDXWRPDWLTXHV /qFKHIULWHpPDLOOpH ࡱ+7 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
² 6RQGHWKHUPRPpWULTXHDYHF 3URIRQGHXUPP YLWUHDYDQWGHO
DSSDUHLOPP
HVWLPDWLRQGXWHPSVGHFXLVVRQ %6 ࡱ 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
² (FUDQ7)7VHQVLWLI 3HOOHjSL]]DVHWGH ࡱ+7 OHERUGH[WpULHXUGHODSRLJQpHPP
² $SSDUHLOVDQVEDQGHDXGH *1 ࡱ (FDUWODWpUDOHQWUHODSRUWHGXIRXU
FRPPDQGHDYHFPRGXOHGH )DLWRXW*DVWUR1RUP ࡱ+7 HWODIDoDGHGXPHXEOHPLQPP
FRPPDQGHVXUODSRUWHYLWUpH HQIRQWHG
DOXPLQLXP 7HQLUFRPSWHGXGpERUGHPHQWSRLJQpH
0RGXOHGHFRPPDQGHKDXW ² 5pJXODWLRQpOHFWURQLTXHGHOD *1KDXWHXUPPDQWLDGKpUHQW FRPSULVHSRXUO
RXYHUWXUHGHWLURLUVODWpUDX[
&KDUQLqUHVjGURLWH WHPSpUDWXUHGH&j& (QFDVG
LQVWDOODWLRQGDQVXQDQJOHWHQLU
%23 ࡱ ² 9ROXPHXWLOHOLWUHV FRPSWHGHO
DQJOHG
RXYHUWXUHGH
3RUWHSOHLQYHUUH ࡱ+7 ² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ 3RXUXQHLQVWDOODWLRQVRXVSODQVRXV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ODWDEOHGHFXLVVRQUHVSHFWHUXQH
+RPH&RQQHFW 0RGHVGHFXLVVRQ GLVWDQFHPLQLGHPPHQWUHOHGHVVRXV
/DUJHXUFP &KDOHXUWRXUQDQWH GHODWDEOHGHFXLVVRQHWOHGHVVXVGXIRXU
%23 ࡱ &KDOHXUWRXUQDQWH(FR 5HVSHFWHUOHVSUpFRQLVDWLRQV
3RUWHSOHLQYHUUH ࡱ+7 9RWH6ROH G
LQVWDOODWLRQGHVWDEOHVGHFXLVVRQ
6pULJUDSKLH0HWDOOLF*DJJHQDX 9RWH QRWDPPHQWOHVLQVWUXFWLRQVGH
+RPH&RQQHFW 6ROH YHQWLODWLRQGHUDFFRUGHPHQWJD]
/DUJHXUFP &KDOHXUWRXUQDQWH6ROH pOHFWULTXH
%23 ࡱ *ULOJUDQGHVXUIDFH$LUYHQWLOp 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQW
3RUWHSOHLQYHUUH ࡱ+7 *ULOJUDQGHVXUIDFH GHPPSRVLWLRQQHUOHFkEOHGH
6pULJUDSKLH6LOYHU*DJJHQDX &RPSDFW*ULO UDFFRUGHPHQWGDQVO
DQJOHGHO
DSSDUHLO
+RPH&RQQHFW &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV /DSULVHGHUDFFRUGHPHQWGRLWrWUH
/DUJHXUFP &XLVVRQGDQVIDLWRXWHQIRQWH SODFpHHQGHKRUVGHODQLFKH
(WXYH G
HQFDVWUHPHQW
&KDUQLqUHVjJDXFKH 'pFRQJpODWLRQ /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUHGH
%23 ࡱ O
DSSDUHLOHQKDXWjGURLWH
3RUWHSOHLQYHUUH ࡱ+7 %DQGHDXGHFRPPDQGH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX &RPPDQGHSDUERXWRQVURWDWLIVHW &RQVHLOVG
LQVWDOODWLRQSRXUO
LQWpJUDWLRQ
+RPH&RQQHFW pFUDQ7)7VHQVLWLI HQSDJHV
/DUJHXUFP $IILFKDJHWH[WHFODLU
%23 ࡱ 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV 9DOHXUVGHUDFFRUGHPHQW
3RUWHSOHLQYHUUH ࡱ+7 LQFOXDQWODVRQGHWKHUPRPpWULTXH &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
6pULJUDSKLH0HWDOOLF*DJJHQDX 3HUVRQQDOLVDWLRQGHVSURJUDPPHV XQHFODVVLILFDWLRQGH$j'
+RPH&RQQHFW DXWRPDWLTXHV 3XLVVDQFHWRWDOHN:
/DUJHXUFP 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
%23 ࡱ 3RUWHjRXYHUWXUHODWpUDOH 3UpYRLUXQFkEOH/$1
3RUWHSOHLQYHUUH ࡱ+7
6pULJUDSKLH6LOYHU*DJJHQDX &DUDFWpULVWLTXHV
+RPH&RQQHFW 6RQGHWKHUPRPpWULTXHSRLQWVGH
/DUJHXUFP PHVXUHDYHFDUUrWDXWRPDWLTXHHW
HVWLPDWLRQGXWHPSVGHFXLVVRQ
/HSUL[FRPSUHQG 3URJUDPPHVDXWRPDWLTXHV
6RQGHWKHUPRPpWULTXHDPRYLEOH 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
W{OHjSkWLVVHULH 7KHUPRWHVW$IILFKDJHGHOD
OqFKHIULWHHQYHUUH WHPSpUDWXUHUpHOOH
JULOOH 3UpFKDXIIDJHUDSLGH
)RQFWLRQVGXSURJUDPPDWHXUGXUpH
$FFHVVRLUHVHQRSWLRQ GHODFXLVVRQILQGHODFXLVVRQ
%$ ࡱ PLQXWHULHFKURQRPqWUHPLQXWHULH
5DLOWpOHVFRSLTXH ࡱ+7 VSpFLDOHFXLVVRQORQJXHGXUpH
&DGUHVXSSRUWHQIRQWHS\URO\VDEOHHW (FODLUDJHKDORJqQHYRWH:
V\VWqPHWpOHVFRSLTXHVRUWLHWRWDOH 6XSSRUWVODWpUDX[pPDLOOpVS\URO\
%$ ࡱ VDEOHVDYHFQLYHDX[G
LQVHUWLRQ
7{OHjSkWLVVHULH ࡱ+7
pPDLOOpH ,QWpJUDWLRQGDQVOHUpVHDXGRPHVWLTXH
3URIRQGHXUPP SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
%$ ࡱ YLDXQFkEOH/$1UHFRPPDQGpRXXQH
*ULOOH ࡱ+7 FRQQH[LRQ:L)L/DGLVSRQLELOLWpGHOD
6DQVRXYHUWXUHDYHFSLHGV IRQFWLRQ+RPH&RQQHFWGpSHQGGHOD
%$ ࡱ IRQFWLRQQDOLWpGHVVHUYLFHV+RPH
/qFKHIULWHHQYHUUH ࡱ+7 &RQQHFWGDQVOHSD\VUHVSHFWLI/HV
3URIRQGHXUPP VHUYLFHV+RPH&RQQHFWQHVRQWSDV
%$ ࡱ GLVSRQLEOHVGDQVWRXVOHVSD\V3OXV
5pVLVWDQFHSRXU ࡱ+7 G
LQIRUPDWLRQVVXUKRPHFRQQHFWFRP
SLHUUHjSDLQHWj
SL]]DVHWIDLWRXWHQIRQWH 6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UHIURLGLVVHPHQWGHO
DSSDUHLO
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXU6pULH %$ ࡱ &RQVHLOVG
LQVWDOODWLRQ
%23 %23 7{OHjSkWLVVHULH ࡱ+7 &KDUQLqUHVQRQUpYHUVLEOHV
pPDLOOpH 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
² ,QVWDOODWLRQjIOHXU 3URIRQGHXUPP YLWUHDYDQWGHO
DSSDUHLOPP
² PRGHVGHFXLVVRQDYHFIRQFWLRQ %6 ࡱ 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWOH
SLHUUHjSDLQHWjSL]]DV 3HOOHjSL]]DVHWGH ࡱ+7 ERUGH[WpULHXUGHODSRLJQpHPP
² (FUDQ7)7VHQVLWLI (FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
² $SSDUHLOVDQVEDQGHDXGH IDoDGHGXPHXEOHPLQPP
FRPPDQGHDYHFPRGXOHGH 7HQLUFRPSWHGXGpERUGHPHQW
FRPPDQGHVXUODSRUWHYLWUpH SRLJQpHFRPSULVHSRXUO
RXYHUWXUHGH
² 5pJXODWLRQpOHFWURQLTXHGHOD WLURLUVODWpUDX[
WHPSpUDWXUHGH&j& (QFDVG
LQVWDOODWLRQGDQVXQDQJOHWHQLU
² 9ROXPHXWLOHOLWUHV FRPSWHGHO
DQJOHG
RXYHUWXUHGH
² &ODVVHG
HIILFDFLWppQHUJpWLTXH$ 3RXUXQHLQVWDOODWLRQVRXVSODQVRXVOD
WDEOHGHFXLVVRQUHVSHFWHUXQH
0RGXOHGHFRPPDQGHKDXW 0RGHVGHFXLVVRQ GLVWDQFHPLQLGHPPHQWUHOH
&KDUQLqUHVjGURLWH &KDOHXUWRXUQDQWH GHVVRXVGHODWDEOHGHFXLVVRQHWOH
%23 ࡱ &KDOHXUWRXUQDQWH(FR GHVVXVGXIRXU
3RUWHSOHLQYHUUH ࡱ+7 9RWH6ROH 5HVSHFWHUOHVSUpFRQLVDWLRQV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 9RWH G
LQVWDOODWLRQGHVWDEOHVGHFXLVVRQ
+RPH&RQQHFW 6ROH QRWDPPHQWOHVLQVWUXFWLRQVGH
/DUJHXUFP &KDOHXUWRXUQDQWH6ROH YHQWLODWLRQGHUDFFRUGHPHQWJD]
%23 ࡱ *ULOJUDQGHVXUIDFH$LUYHQWLOp pOHFWULTXH
3RUWHSOHLQYHUUH ࡱ+7 *ULOJUDQGHVXUIDFH 3RXUXQHSURIRQGHXUG
HQFDVWUHPHQWGH
6pULJUDSKLH0HWDOOLF*DJJHQDX &XLVVRQVXUSLHUUHjSDLQHWjSL]]DV PPSRVLWLRQQHUOHFkEOHGH
+RPH&RQQHFW UDFFRUGHPHQWGDQVO
DQJOHGHO
DSSDUHLO
/DUJHXUFP %DQGHDXGHFRPPDQGH /DSULVHGHUDFFRUGHPHQWGRLWrWUH
%23 ࡱ &RPPDQGHSDUERXWRQVURWDWLIVHW SODFpHHQGHKRUVGHODQLFKH
3RUWHSOHLQYHUUH ࡱ+7 pFUDQ7)7VHQVLWLI G
HQFDVWUHPHQW
6pULJUDSKLH6LOYHU*DJJHQDX $IILFKDJHWH[WHFODLU /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
+RPH&RQQHFW 0pPRULVDWLRQGHUHFHWWHVSHUVRQ GHO
DSSDUHLOHQKDXWjGURLWH
/DUJHXUFP QHOOHV
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ &RQVHLOVG
LQVWDOODWLRQSRXU
&KDUQLqUHVjJDXFKH 3RUWHjRXYHUWXUHODWpUDOH O
LQWpJUDWLRQHQSDJHV
%23 ࡱ
3RUWHSOHLQYHUUH ࡱ+7 &DUDFWpULVWLTXHV 9DOHXUVGHUDFFRUGHPHQW
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 3ULVHSRXUSLHUUHjSDLQHWjSL]]DV &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
+RPH&RQQHFW 7KHUPRWHVW$IILFKDJHGHOD XQHFODVVLILFDWLRQGH$j'
/DUJHXUFP WHPSpUDWXUHUpHOOH 3XLVVDQFHWRWDOHN:
%23 ࡱ 3UpFKDXIIDJHUDSLGH 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
3RUWHSOHLQYHUUH ࡱ+7 )RQFWLRQVGXSURJUDPPDWHXUGXUpH 3UpYRLUXQFkEOH/$1
6pULJUDSKLH0HWDOOLF*DJJHQDX GHODFXLVVRQILQGHODFXLVVRQ
+RPH&RQQHFW PLQXWHULHFKURQRPqWUHPLQXWHULH
/DUJHXUFP VSpFLDOHFXLVVRQORQJXHGXUpH
%23 ࡱ (FODLUDJHKDORJqQHYRWH:
3RUWHSOHLQYHUUH ࡱ+7 6XSSRUWVODWpUDX[FKURPpVDYHF
6pULJUDSKLH6LOYHU*DJJHQDX QLYHDX[G
LQVHUWLRQ
+RPH&RQQHFW
/DUJHXUFP ,QWpJUDWLRQGDQVOHUpVHDX
GRPHVWLTXHSRXUVHUYLFHVGLJLWDX[
/HSUL[FRPSUHQG +RPH&RQQHFWYLDXQFkEOH/$1
W{OHjSkWLVVHULH UHFRPPDQGpRXXQHFRQQH[LRQ:L)L
JULOOH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
OqFKHIULWH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
$FFHVVRLUHVHQRSWLRQ SD\VUHVSHFWLI/HVVHUYLFHV+RPH
%$ ࡱ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
*ULOOH ࡱ+7 WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
6DQVRXYHUWXUHDYHFSLHGV KRPHFRQQHFWFRP
%$ ࡱ
/qFKHIULWHHQYHUUH ࡱ+7 6pFXULWp
3URIRQGHXUPP 3RUWHDYHFLVRODWLRQWKHUPLTXHYLWUHV
%$ ࡱ 6pFXULWpHQIDQWV
5pVLVWDQFHSRXU ࡱ+7 &RXSXUHGHVpFXULWp
SLHUUHjSDLQHWj 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
SL]]DVHWIDLWRXWHQIRQWH UHIURLGLVVHPHQWGHO
DSSDUHLO
%$ ࡱ
3LHUUHjSDLQHWj ࡱ+7 1HWWR\DJH
SL]]DV (PDLOEOHX*DJJHQDX
&RPSUHQGVXSSRUWHWXQHSHOOHjSL]]D &DWDO\VHXUpOHFWULTXHGHIXPpHV
FRPPDQGHUODUpVLVWDQFHVpSDUpPHQW SXULILDQWO
DLUUHMHWp
1
HVWSDVFRPELQDEOHDYHFOHV\WqPH
GHUDLOWpOHVFRSLTXH
%$ ࡱ
UDLOVWpOHVFRSLTXHV ࡱ+7
VRUWLHWRWDOH
%$ ࡱ
/qFKHIULWHpPDLOOpH ࡱ+7
3URIRQGHXUPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUFRPELYDSHXU6pULH $FFHVVRLUHVHQRSWLRQ ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
%63 %63 %$ ࡱ SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
5DLOWpOHVFRSLTXH ࡱ+7 YLDXQFkEOH/$1UHFRPPDQGpRX
² ,QVWDOODWLRQjIOHXU WURLVQLYHDX[ VDQVILOYLD:L)L
² 5DFFRUGHPHQWGLUHFWjO
DUULYpHHW %$ ࡱ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
jO
pYDFXDWLRQG
HDX 5pFLSLHQWGHFXLVVRQ ࡱ+7 &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
² 6\VWqPHGHQHWWR\DJHWRXW HQLQR[QRQSHUIRUp GHVVHUYLFHV+RPH&RQQHFWGDQVOH
DXWRPDWLTXH SURIRQGHXUPPO SD\VUHVSHFWLI/HVVHUYLFHV+RPH
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU %$ ࡱ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
² 6RXUFHG
pFODLUDJH/(' 5pFLSLHQWGHFXLVVRQ ࡱ+7 WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
² *pQpUDWLRQH[WHUQHGHODYDSHXU HQLQR[SHUIRUp ZZZKRPHFRQQHFWFRP
² &XLVVRQYDSHXUVDQVSUHVVLRQ SURIRQGHXUPPO
² &KDOHXUWRXUQDQWHGH&j %$ ࡱ 6pFXULWp
&DYHFUpJODJHGHO
KXPLGLWp 5pFLSLHQWGHFXLVVRQ ࡱ+7 6pFXULWpHQIDQWV
0RGXOHGHFRPPDQGHKDXW GH DQWLDGKpUHQWQRQSHUIRUp &RXSXUHGHVpFXULWp
&KDUQLqUHVjGURLWH FRPELQDEOHDXFKRL[ SURIRQGHXUPPO 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
%63 ࡱ ² &XLVVRQ6RXVYLGHDYHFUpJODJH %$ ࡱ UHIURLGLVVHPHQWGHO
DSSDUHLO
3RUWHSOHLQYHUUH ࡱ+7 SUpFLVGHODWHPSpUDWXUHDXGHJUp 5pFLSLHQWGHFXLVVRQ ࡱ+7
6pULJUDSKLH$QWKUDFLWH*DJJHQDX SUqV DQWLDGKpUHQWSHUIRUp 1HWWR\DJH
+RPH&RQQHFW ² *ULOJUDQGHVXUIDFHFRPELQDEOH SURIRQGHXUPPO 3URJUDPPHGHQHWWR\DJHWRXWDXWRPDWLTXH
/DUJHXUFP DYHFO
DLUYHQWLOpMXVTX
j&HWOD %$ ࡱ 3URJUDPPHGHGpWDUWUDJHSRXUOH
%63 ࡱ YDSHXU /qFKHIULWHHQYHUUH ࡱ+7 JpQpUDWHXUGHYDSHXU
3RUWHSOHLQYHUUH ࡱ+7 ² 3URJUDPPHVDXWRPDWLTXHV 3URIRQGHXUPP )RQFWLRQ6pFKDJH
6pULJUDSKLH0HWDOOLF*DJJHQDX ² 6RQGHWKHUPRPpWULTXHDYHF &/6 ࡱ 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWHGH
+RPH&RQQHFW HVWLPDWLRQGXWHPSVGHFXLVVRQ &DUWRXFKHV ࡱ+7 FXLVVRQjODILQGXSURFHVVXVGHFXLVVRQ
/DUJHXUFP ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH GHQHWWR\DJH )LOWUHWDPLVDPRYLEOH
%63 ࡱ URWDWLIGDQVOHVGHX[VHQVSRXUXQH 6HWGH 0RGH'pPRSRXUSURJUDPPHGH
3RUWHSOHLQYHUUH ࡱ+7 UpSDUWLWLRQLGpDOHGHODFKDOHXU *1 ࡱ QHWWR\DJH
6pULJUDSKLH6LOYHU*DJJHQDX ² (FUDQ7)7VHQVLWLI $GDSWDWHXUSRXU ࡱ+7
+RPH&RQQHFW ² $SSDUHLOVDQVEDQGHDXGH UpFLSLHQWVGHFXLVVRQHWIDLWRXW &RQVHLOVG
LQVWDOODWLRQ
/DUJHXUFP FRPPDQGHDYHFPRGXOHGH *DVWUR1RUP &KDUQLqUHVQRQUpYHUVLEOHV
FRPPDQGHVXUODSRUWHYLWUpH *1 ࡱ $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
&KDUQLqUHVjJDXFKH ² 5pJODJHpOHFWURQLTXHGHOD 5pFLSLHQW*DVWUR ࡱ+7 LQVWDOOpDXGHVVXVGXIRXUYDSHXU
%63 ࡱ WHPSpUDWXUHGH&j& 1RUPHQLQR[*1 /HWX\DXG
pYDFXDWLRQG
HDXQHSHXW
3RUWHSOHLQYHUUH ࡱ+7 ² 9ROXPHXWLOHOLWUHV 1RQSHUIRUpSURIRQGHXUPPO rWUHEUDQFKpDXGHVVXVGXSRLQWOH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX *1 ࡱ SOXVEDVGHO
DSSDUHLOHWLOGRLWrWUH
+RPH&RQQHFW 0RGHVGHFXLVVRQ 5pFLSLHQW*DVWUR ࡱ+7 SODFpPLQPPSOXVEDVTXHOD
/DUJHXUFP &KDOHXUWRXUQDQWHKXPLGLWp 1RUPHQLQR[*1 VRUWLHG
pYDFXDWLRQGHO
DSSDUHLO
%63 ࡱ &KDOHXUWRXUQDQWHKXPLGLWp 1RQSHUIRUpSURIRQGHXUPPO 7X\DXG
DUULYpHG
HDXSHXWrWUHUDOORQJp
3RUWHSOHLQYHUUH ࡱ+7 &KDOHXUWRXUQDQWHKXPLGLWp *1 ࡱ XQHIRLV
6pULJUDSKLH0HWDOOLF*DJJHQDX &KDOHXUWRXUQDQWHKXPLGLWp 5pFLSLHQW*DVWUR ࡱ+7 /RQJXHXUPD[LPDOHGXWX\DX
+RPH&RQQHFW &KDOHXUWRXUQDQWHKXPLGLWp 1RUPHQLQR[*1 G
pYDFXDWLRQP
/DUJHXUFP &XLVVRQEDVVHWHPSpUDWXUH 3HUIRUpSURIRQGHXUPPO /HURELQHWG
DUULYpHG
HDXGRLW
%63 ࡱ &XLVVRQ6RXV9LGH *1 ࡱ WRXMRXUVrWUHDFFHVVLEOHLOQHSHXWSDV
3RUWHSOHLQYHUUH ࡱ+7 *ULOSRVLWLRQ+XPLGLWp 5pFLSLHQW*DVWUR ࡱ+7 rWUHSODFpGHUULqUHO
DSSDUHLO
6pULJUDSKLH6LOYHU*DJJHQDX *ULOSRVLWLRQ+XPLGLWp 1RUPHQLQR[*1 /HWX\DXG
pYDFXDWLRQG
HDXUHOLpDX
+RPH&RQQHFW *ULO$LUYHQWLOp 3HUIRUpSURIRQGHXUPPO VLSKRQGRLWWRXMRXUVrWUHDFFHVVLEOH
/DUJHXUFP )HUPHQWDWLRQ *1 ࡱ HWQHSDVrWUHSODFpGHUULqUHO
DSSDUHLO
'pFRQJpODWLRQ )DLWRXW*DVWUR1RUP ࡱ+7 3UpYRLUO
LQVWDOODWLRQGXV\VWqPHGH
/HSUL[FRPSUHQG 5pJpQpUDWLRQ HQIRQWHG
DOXPLQLXP ILOWUDJHDQWLFDOFDLUH*)j
UpFLSLHQWHQLQR[SHUIRUpO *1KDXWHXUPPDQWLDGKpUHQW O
DUULYpHG
HDXGHO
DSSDUHLOVLODGXUHWp
UpFLSLHQWHQLQR[QRQSHUIRUpO %DQGHDXGHFRPPDQGH GHO
HDXH[FqGHI+
JULOOH &RPPDQGHSDUERXWRQVURWDWLIVHW 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
VRQGHWKHUPRPpWULTXHDPRYLEOH pFUDQ7)7VHQVLWLI YLWUHDYDQWGHO
DSSDUHLOPP
WX\DXG
pYDFXDWLRQG
HDXP $IILFKDJHWH[WHFODLU 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
WX\DXG
DUULYpHG
HDXP 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV OHERUGH[WpULHXUGHODSRLJQpHPP
FDUWRXFKHVGHQHWWR\DJH LQFOXDQWODVRQGHWKHUPRPpWULTXH (FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
3HUVRQQDOLVDWLRQGHVSURJUDPPHV IDoDGHGXPHXEOHPLQPP
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ DXWRPDWLTXHV 7HQLUFRPSWHGXGpERUGHPHQW
*) ࡱ 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ SRLJQpHFRPSULVHSRXUO
RXYHUWXUHGH
6\VWqPHGHILOWUDJH ࡱ+7 3RUWHjRXYHUWXUHODWpUDOH WLURLUVODWpUDX[
DQWLFDOFDLUHHWQHXWUDOLVDWLRQGXJRW (QFDVG
LQVWDOODWLRQGDQVXQDQJOHWHQLU
*) ࡱ &DUDFWpULVWLTXHV FRPSWHGHO
DQJOHG
RXYHUWXUHGH
&DUWRXFKHGHILOWUDJH ࡱ+7 *ULOJUDQGHVXUIDFHN: /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
GHUHFKDQJH (OLPLQDWLRQGHODYDSHXU ODQLFKH
*= ࡱ 9DSRULVDWLRQG
KXPLGLWp
5DOORQJH$TXD6WRS ࡱ+7 6RQGHWKHUPRPpWULTXHSRLQWVGH $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
ORQJXHXUP PHVXUHDYHFDUUrWDXWRPDWLTXHHW HQWDQWTXHSLqFHVGpWDFKpHV
5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ HVWLPDWLRQGXWHPSVGHFXLVVRQ (71U7DEOHWWHVGHGpWDUWUDJH
G
HDX 3URJUDPPHVDXWRPDWLTXHV
7KHUPRWHVW$IILFKDJHGHOD &RQVHLOVG
LQVWDOODWLRQSRXU
WHPSpUDWXUHUpHOOH O
LQWpJUDWLRQHQSDJHV
)RQFWLRQVGXSURJUDPPDWHXUGXUpH
GHODFXLVVRQILQGHODFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW
PLQXWHULHFKURQRPqWUHPLQXWHULH &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
VSpFLDOHFXLVVRQORQJXHGXUpH XQHpFKHOOHGH$j'
(WDORQQDJHDXWRPDWLTXHGHOD 3XLVVDQFHWRWDOHN:
WHPSpUDWXUHGHYDSRULVDWLRQHQ 5DFFRUGHPHQWXQLTXHPHQWjO
HDXIURLGH
IRQFWLRQGHO
DOWLWXGH 7X\DXG
DUULYpHG
HDXPDYHFUDFFRUG
(FODLUDJHODWpUDO/(' PPSHXWrWUHUDOORQJp
(QFHLQWHGHFXLVVRQHQLQR[ 7X\DXG
pYDFXDWLRQG
HDXPP
QLYHDX[G
LQVHUWLRQ PWX\DX+7
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
&kEOHGHUDFFRUGHPHQWPDYHFSULVH
3UpYRLUXQFkEOH/$1
)RXUFRPELYDSHXU6pULH $FFHVVRLUHVHQRSWLRQ YLDXQFkEOH/$1UHFRPPDQGpRX
%63 %63 %$ ࡱ VDQVILOYLD:L)L
5DLOWpOHVFRSLTXH ࡱ+7 /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
² ,QVWDOODWLRQjIOHXU WURLVQLYHDX[ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
² 5DFFRUGHPHQWGLUHFWjO
DUULYpHHWj %$ ࡱ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
O
pYDFXDWLRQG
HDX 5pFLSLHQWGHFXLVVRQ ࡱ+7 SD\VUHVSHFWLI/HVVHUYLFHV+RPH
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU HQLQR[QRQSHUIRUp &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
² 6RXUFHG
pFODLUDJH/(' SURIRQGHXUPPO WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
² *pQpUDWLRQH[WHUQHGHODYDSHXU %$ ࡱ ZZZKRPHFRQQHFWFRP
² &XLVVRQYDSHXUVDQVSUHVVLRQ 5pFLSLHQWGHFXLVVRQ ࡱ+7
² &KDOHXUWRXUQDQWHGH&j HQLQR[SHUIRUp 6pFXULWp
&DYHFUpJODJHGHO
KXPLGLWp SURIRQGHXUPPO 6pFXULWpHQIDQWV
GH %$ ࡱ &RXSXUHGHVpFXULWp
FRPELQDEOHDXFKRL[ 5pFLSLHQWGHFXLVVRQ ࡱ+7 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
0RGXOHGHFRPPDQGHKDXW ² &XLVVRQ6RXVYLGHDYHFUpJODJHSUpFLV DQWLDGKpUHQWQRQSHUIRUp UHIURLGLVVHPHQWGHO
DSSDUHLO
&KDUQLqUHVjGURLWH GHODWHPSpUDWXUHDXGHJUpSUqV SURIRQGHXUPPO
%63 ࡱ ² *ULOJUDQGHVXUIDFHFRPELQDEOH %$ ࡱ 1HWWR\DJH
3RUWHSOHLQYHUUH ࡱ+7 DYHFO
DLUYHQWLOpMXVTX
j&HWOD 5pFLSLHQWGHFXLVVRQ ࡱ+7 )RQFWLRQDLGHDXQHWWR\DJH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX YDSHXU DQWLDGKpUHQWSHUIRUp 3URJUDPPHGHGpWDUWUDJHSRXUOH
+RPH&RQQHFW ² 3URJUDPPHVDXWRPDWLTXHV SURIRQGHXUPPO JpQpUDWHXUGHYDSHXU
/DUJHXUFP ² 6RQGHWKHUPRPpWULTXHDYHF %$ ࡱ )RQFWLRQ6pFKDJH
%63 ࡱ HVWLPDWLRQGXWHPSVGHFXLVVRQ /qFKHIULWHHQYHUUH ࡱ+7 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWHGH
3RUWHSOHLQYHUUH ࡱ+7 ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH 3URIRQGHXUPP FXLVVRQjODILQGXSURFHVVXVGHFXLVVRQ
6pULJUDSKLH0HWDOOLF*DJJHQDX URWDWLIGDQVOHVGHX[VHQVSRXUXQH *1 ࡱ )LOWUHjJUDLVVHODYDEOHDXODYHYDLVVHOOH
+RPH&RQQHFW UpSDUWLWLRQLGpDOHGHODFKDOHXU $GDSWDWHXUSRXU ࡱ+7 )LOWUHWDPLVDPRYLEOH
/DUJHXUFP ² (FUDQ7)7VHQVLWLI UpFLSLHQWVGHFXLVVRQHWIDLWRXW
%63 ࡱ ² $SSDUHLOVDQVEDQGHDXGH *DVWUR1RUP &RQVHLOVG
LQVWDOODWLRQ
3RUWHSOHLQYHUUH ࡱ+7 FRPPDQGHDYHFPRGXOHGH *1 ࡱ &KDUQLqUHVQRQUpYHUVLEOHV
6pULJUDSKLH6LOYHU*DJJHQDX FRPPDQGHVXUODSRUWHYLWUpH 5pFLSLHQW*DVWUR ࡱ+7 $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
+RPH&RQQHFW ² 5pJODJHpOHFWURQLTXHGHOD 1RUPHQLQR[*1 LQVWDOOpDXGHVVXVGXIRXUYDSHXU
/DUJHXUFP WHPSpUDWXUHGH&j& 1RQSHUIRUpSURIRQGHXUPPO /HWX\DXG
pYDFXDWLRQG
HDXQHSHXW
² 9ROXPHXWLOHOLWUHV *1 ࡱ rWUHEUDQFKpDXGHVVXVGXSRLQWOH
&KDUQLqUHVjJDXFKH 5pFLSLHQW*DVWUR ࡱ+7 SOXVEDVGHO
DSSDUHLOHWLOGRLWrWUH
%63 ࡱ 0RGHVGHFXLVVRQ 1RUPHQLQR[*1 SODFpPLQPPSOXVEDVTXHOD
3RUWHSOHLQYHUUH ࡱ+7 &KDOHXUWRXUQDQWHKXPLGLWp 1RQSHUIRUpSURIRQGHXUPPO VRUWLHG
pYDFXDWLRQGHO
DSSDUHLO
6pULJUDSKLH$QWKUDFLWH*DJJHQDX &KDOHXUWRXUQDQWHKXPLGLWp *1 ࡱ 7X\DXG
DUULYpHG
HDXSHXWrWUHUDOORQJp
+RPH&RQQHFW &KDOHXUWRXUQDQWHKXPLGLWp 5pFLSLHQW*DVWUR ࡱ+7 XQHIRLV
/DUJHXUFP &KDOHXUWRXUQDQWHKXPLGLWp 1RUPHQLQR[*1 /RQJXHXUPD[LPDOHGXWX\DX
%63 ࡱ &KDOHXUWRXUQDQWHKXPLGLWp 3HUIRUpSURIRQGHXUPPO G
pYDFXDWLRQP
3RUWHSOHLQYHUUH ࡱ+7 &XLVVRQEDVVHWHPSpUDWXUH *1 ࡱ /HURELQHWG
DUULYpHG
HDXGRLW
6pULJUDSKLH0HWDOOLF*DJJHQDX &XLVVRQ6RXV9LGH 5pFLSLHQW*DVWUR ࡱ+7 WRXMRXUVrWUHDFFHVVLEOHLOQHSHXWSDV
+RPH&RQQHFW *ULOSRVLWLRQ+XPLGLWp 1RUPHQLQR[*1 rWUHSODFpGHUULqUHO
DSSDUHLO
/DUJHXUFP *ULOSRVLWLRQ+XPLGLWp 3HUIRUpSURIRQGHXUPPO /HWX\DXG
pYDFXDWLRQG
HDXUHOLpDX
%63 ࡱ *ULO$LUYHQWLOp *1 ࡱ VLSKRQGRLWWRXMRXUVrWUHDFFHVVLEOH
3RUWHSOHLQYHUUH ࡱ+7 )HUPHQWDWLRQ )DLWRXW*DVWUR1RUP ࡱ+7 HWQHSDVrWUHSODFpGHUULqUHO
DSSDUHLO
6pULJUDSKLH6LOYHU*DJJHQDX 'pFRQJpODWLRQ HQIRQWHG
DOXPLQLXP 3UpYRLUO
LQVWDOODWLRQGXV\VWqPHGH
+RPH&RQQHFW 5pJpQpUDWLRQ *1KDXWHXUPPDQWLDGKpUHQW ILOWUDJHDQWLFDOFDLUH*)j
/DUJHXUFP O
DUULYpHG
HDXGHO
DSSDUHLOVLODGXUHWp
%DQGHDXGHFRPPDQGH GHO
HDXH[FqGHI+
/HSUL[FRPSUHQG &RPPDQGHSDUERXWRQVURWDWLIVHW 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
UpFLSLHQWHQLQR[SHUIRUpO pFUDQ7)7VHQVLWLI YLWUHDYDQWGHO
DSSDUHLOPP
UpFLSLHQWHQLQR[QRQSHUIRUpO $IILFKDJHWH[WHFODLU 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
JULOOH 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV OHERUGH[WpULHXUGHODSRLJQpHPP
VRQGHWKHUPRPpWULTXHDPRYLEOH LQFOXDQWODVRQGHWKHUPRPpWULTXH (FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
WX\DXG
pYDFXDWLRQG
HDXP 3HUVRQQDOLVDWLRQGHVSURJUDPPHV IDoDGHGXPHXEOHPLQPP
WX\DXG
DUULYpHG
HDXP DXWRPDWLTXHV 7HQLUFRPSWHGXGpERUGHPHQWSRLJQpH
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ FRPSULVHSRXUO
RXYHUWXUHGHWLURLUVODWpUDX[
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ 3RUWHjRXYHUWXUHODWpUDOH (QFDVG
LQVWDOODWLRQGDQVXQDQJOHWHQLU
*) ࡱ FRPSWHGHO
DQJOHG
RXYHUWXUHGH
6\VWqPHGHILOWUDJH ࡱ+7 &DUDFWpULVWLTXHV /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
DQWLFDOFDLUHHWQHXWUDOLVDWLRQGXJRW *ULOJUDQGHVXUIDFHN: ODQLFKH
*) ࡱ (OLPLQDWLRQGHODYDSHXU
&DUWRXFKHGHILOWUDJH ࡱ+7 9DSRULVDWLRQG
KXPLGLWp $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
GHUHFKDQJH 6RQGHWKHUPRPpWULTXHSRLQWVGH HQWDQWTXHSLqFHVGpWDFKpHV
*= ࡱ PHVXUHDYHFDUUrWDXWRPDWLTXHHW (71U7DEOHWWHVGHGpWDUWUDJH
5DOORQJH$TXD6WRS ࡱ+7 HVWLPDWLRQGXWHPSVGHFXLVVRQ
ORQJXHXUP 3URJUDPPHVDXWRPDWLTXHV &RQVHLOVG
LQVWDOODWLRQSRXU
5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ 7KHUPRWHVW$IILFKDJHGHOD O
LQWpJUDWLRQHQSDJHV
G
HDX WHPSpUDWXUHUpHOOH
)RQFWLRQVGXSURJUDPPDWHXUGXUpH 9DOHXUVGHUDFFRUGHPHQW
GHODFXLVVRQILQGHODFXLVVRQ &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
PLQXWHULHFKURQRPqWUHPLQXWHULH XQHpFKHOOHGH$j'
VSpFLDOHFXLVVRQORQJXHGXUpH 3XLVVDQFHWRWDOHN:
(WDORQQDJHDXWRPDWLTXHGHOD 5DFFRUGHPHQWXQLTXHPHQWjO
HDXIURLGH
WHPSpUDWXUHGHYDSRULVDWLRQHQ 7X\DXG
DUULYpHG
HDXPDYHFUDFFRUG
IRQFWLRQGHO
DOWLWXGH PPSHXWrWUHUDOORQJp
(FODLUDJHODWpUDO/(' 7X\DXG
pYDFXDWLRQG
HDXPP
(QFHLQWHGHFXLVVRQHQLQR[ PWX\DX+7
QLYHDX[G
LQVHUWLRQ &kEOHGHUDFFRUGHPHQWPDYHFSULVH
3UpYRLUXQFkEOH/$1
,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUFRPELYDSHXU6pULH *1 ࡱ ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
%63 %63 $GDSWDWHXUSRXU ࡱ+7 SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
UpFLSLHQWVGHFXLVVRQHWIDLWRXW YLDXQFkEOH/$1UHFRPPDQGpRX
² ,QVWDOODWLRQjIOHXU *DVWUR1RUP VDQVILOYLD:L)L
² 5pVHUYRLUSRXUHDXIUDvFKHHWHDX *1 ࡱ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
XVpH 5pFLSLHQW*DVWUR ࡱ+7 &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU 1RUPHQLQR[*1 GHVVHUYLFHV+RPH&RQQHFWGDQVOH
² 6RXUFHG
pFODLUDJH/(' 1RQSHUIRUpSURIRQGHXUPPO SD\VUHVSHFWLI/HVVHUYLFHV+RPH
² *pQpUDWLRQH[WHUQHGHODYDSHXU *1 ࡱ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
² &XLVVRQYDSHXUVDQVSUHVVLRQ 5pFLSLHQW*DVWUR ࡱ+7 WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
² &KDOHXUWRXUQDQWHGH&j 1RUPHQLQR[*1 ZZZKRPHFRQQHFWFRP
&DYHFUpJODJHGHO
KXPLGLWp 1RQSHUIRUpSURIRQGHXUPPO
GH *1 ࡱ 6pFXULWp
FRPELQDEOHDXFKRL[ 5pFLSLHQW*DVWUR ࡱ+7 6pFXULWpHQIDQWV
0RGXOHGHFRPPDQGHKDXW ² &XLVVRQ6RXVYLGHDYHFUpJODJH 1RUPHQLQR[*1 &RXSXUHGHVpFXULWp
&KDUQLqUHVjGURLWH SUpFLVGHODWHPSpUDWXUHDXGHJUp 3HUIRUpSURIRQGHXUPPO 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
%63 ࡱ SUqV *1 ࡱ UHIURLGLVVHPHQWGHO
DSSDUHLO
3RUWHSOHLQYHUUH ࡱ+7 ² *ULOJUDQGHVXUIDFHFRPELQDEOH 5pFLSLHQW*DVWUR ࡱ+7
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DYHFO
DLUYHQWLOpMXVTX
j&HWOD 1RUPHQLQR[*1 1HWWR\DJH
+RPH&RQQHFW YDSHXU 3HUIRUpSURIRQGHXUPPO )RQFWLRQDLGHDXQHWWR\DJH
/DUJHXUFP ² 3URJUDPPHVDXWRPDWLTXHV *1 ࡱ 3URJUDPPHGHGpWDUWUDJHSRXUOH
%63 ࡱ ² 6RQGHWKHUPRPpWULTXHDYHF )DLWRXW*DVWUR1RUP ࡱ+7 JpQpUDWHXUGHYDSHXU
3RUWHSOHLQYHUUH ࡱ+7 HVWLPDWLRQGXWHPSVGHFXLVVRQ HQIRQWHG
DOXPLQLXP )RQFWLRQ6pFKDJH
6pULJUDSKLH0HWDOOLF*DJJHQDX ² 9HQWLODWHXUGHFKDOHXUWRXUQDQWH *1KDXWHXUPPDQWLDGKpUHQW 6pFKDJHDXWRPDWLTXHGHO
HQFHLQWH
+RPH&RQQHFW URWDWLIGDQVOHVGHX[VHQVSRXUXQH GHFXLVVRQjODILQGXSURFHVVXVGH
/DUJHXUFP UpSDUWLWLRQLGpDOHGHODFKDOHXU FXLVVRQ
%63 ࡱ ² (FUDQ7)7VHQVLWLI 5pVHUYRLUG
HDXODYDEOHDX
3RUWHSOHLQYHUUH ࡱ+7 ² $SSDUHLOVDQVEDQGHDXGH ODYHYDLVVHOOH
6pULJUDSKLH6LOYHU*DJJHQDX FRPPDQGHDYHFPRGXOHGH )LOWUHjJUDLVVHODYDEOHDX
+RPH&RQQHFW FRPPDQGHVXUODSRUWHYLWUpH ODYHYDLVVHOOH
/DUJHXUFP ² 5pJODJHpOHFWURQLTXHGHOD )LOWUHWDPLVDPRYLEOH
WHPSpUDWXUHGH&j&
&KDUQLqUHVjJDXFKH ² 9ROXPHXWLOHOLWUHV &RQVHLOVG
LQVWDOODWLRQ
%63 ࡱ &KDUQLqUHVQRQUpYHUVLEOHV
3RUWHSOHLQYHUUH ࡱ+7 0RGHVGHFXLVVRQ $XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX &KDOHXUWRXUQDQWHKXPLGLWp LQVWDOOpDXGHVVXVGXIRXUYDSHXU
+RPH&RQQHFW &KDOHXUWRXUQDQWHKXPLGLWp 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
/DUJHXUFP &KDOHXUWRXUQDQWHKXPLGLWp YLWUHDYDQWGHO
DSSDUHLOPP
%63 ࡱ &KDOHXUWRXUQDQWHKXPLGLWp 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
3RUWHSOHLQYHUUH ࡱ+7 &KDOHXUWRXUQDQWHKXPLGLWp OHERUGH[WpULHXUGHODSRLJQpH
6pULJUDSKLH0HWDOOLF*DJJHQDX &XLVVRQEDVVHWHPSpUDWXUH PP
+RPH&RQQHFW &XLVVRQ6RXV9LGH (FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
/DUJHXUFP *ULOSRVLWLRQ+XPLGLWp IDoDGHGXPHXEOHPLQPP
%63 ࡱ *ULOSRVLWLRQ+XPLGLWp 7HQLUFRPSWHGXGpERUGHPHQW
3RUWHSOHLQYHUUH ࡱ+7 *ULO$LUYHQWLOp SRLJQpHFRPSULVHSRXUO
RXYHUWXUHGH
6pULJUDSKLH6LOYHU*DJJHQDX )HUPHQWDWLRQ WLURLUVODWpUDX[
+RPH&RQQHFW 'pFRQJpODWLRQ (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
/DUJHXUFP 5pJpQpUDWLRQ WHQLUFRPSWHGHO
DQJOHG
RXYHUWXUHGH
/HSUL[FRPSUHQG %DQGHDXGHFRPPDQGH /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
UpFLSLHQWHQLQR[SHUIRUpO &RPPDQGHSDUERXWRQVURWDWLIVHW ODQLFKH
UpFLSLHQWHQLQR[QRQSHUIRUpO pFUDQ7)7VHQVLWLI /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
JULOOH $IILFKDJHWH[WHFODLU GHO
DSSDUHLOHQEDVjJDXFKH
VRQGHWKHUPRPpWULTXHDPRYLEOH 0pPRULVDWLRQGHUHFHWWHVSHUVRQQHOOHV
LQFOXDQWODVRQGHWKHUPRPpWULTXH $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
$FFHVVRLUHVHQRSWLRQ 3HUVRQQDOLVDWLRQGHVSURJUDPPHV HQWDQWTXHSLqFHVGpWDFKpHV
%$ ࡱ DXWRPDWLTXHV (71U7DEOHWWHVGHGpWDUWUDJH
5DLOWpOHVFRSLTXH ࡱ+7 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
WURLVQLYHDX[ 3RUWHjRXYHUWXUHODWpUDOH &RQVHLOVG
LQVWDOODWLRQSRXU
%$ ࡱ O
LQWpJUDWLRQHQSDJHV
5pFLSLHQWGHFXLVVRQ ࡱ+7 &DUDFWpULVWLTXHV
HQLQR[QRQSHUIRUp *ULOJUDQGHVXUIDFHN: 9DOHXUVGHUDFFRUGHPHQW
SURIRQGHXUPPO UpVHUYRLUVG
HDXH[WUDFWLEOHVGH &ODVVHG
HIILFDFLWppQHUJpWLTXH$
%$ ࡱ OLWUHV VXUXQHpFKHOOHGH$j'
5pFLSLHQWGHFXLVVRQ ࡱ+7 $YHUWLVVHPHQWORUVTXHOHQLYHDXG
HDX 3XLVVDQFHWRWDOHN:
HQLQR[SHUIRUp HVWEDV &kEOHGHUDFFRUGHPHQWP
SURIRQGHXUPPO 6RQGHWKHUPRPpWULTXHSRLQWVGH DYHFSULVH
%$ ࡱ PHVXUHDYHFDUUrWDXWRPDWLTXHHW 3UpYRLUXQFkEOH/$1
5pFLSLHQWGHFXLVVRQ ࡱ+7 HVWLPDWLRQGXWHPSVGHFXLVVRQ
DQWLDGKpUHQWQRQSHUIRUp 3URJUDPPHVDXWRPDWLTXHV
SURIRQGHXUPPO 7KHUPRWHVW$IILFKDJHGHOD
%$ ࡱ WHPSpUDWXUHUpHOOH
5pFLSLHQWGHFXLVVRQ ࡱ+7 )RQFWLRQVGXSURJUDPPDWHXUGXUpH
DQWLDGKpUHQWSHUIRUp GHODFXLVVRQILQGHODFXLVVRQ
SURIRQGHXUPPO PLQXWHULHFKURQRPqWUHPLQXWHULH
%$ ࡱ VSpFLDOHFXLVVRQORQJXHGXUpH
/qFKHIULWHHQYHUUH ࡱ+7 (WDORQQDJHDXWRPDWLTXHGHOD
3URIRQGHXUPP WHPSpUDWXUHGHYDSRULVDWLRQHQ
IRQFWLRQGHO
DOWLWXGH
(FODLUDJHODWpUDO/('
(QFHLQWHGHFXLVVRQHQLQR[
QLYHDX[G
LQVHUWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUYDSHXU6pULH &RQVHLOVG
LQVWDOODWLRQ
%63 %63 &KDUQLqUHVQRQUpYHUVLEOHV
$XFXQDSSDUHLOpOHFWULTXHQHSHXWrWUH
² ,QVWDOODWLRQjIOHXU LQVWDOOpDXGHVVXVGXIRXUYDSHXU
² 5pVHUYRLUG
HDX 'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
² (QFHLQWHGHFXLVVRQJUDQGHODUJHXU YLWUHDYDQWGHO
DSSDUHLOPP
² 6RXUFHG
pFODLUDJH/(' 'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
² *pQpUDWLRQH[WHUQHGHODYDSHXU OHERUGH[WpULHXUGHODSRLJQpH
² &XLVVRQYDSHXUVDQVSUHVVLRQDYHF PP
² G
KXPLGLWpWHPSpUDWXUHGH (FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
&j& IDoDGHGXPHXEOHPLQPP
² &XLVVRQ6RXVYLGHDYHFUpJODJH 7HQLUFRPSWHGXGpERUGHPHQW
SUpFLVGHODWHPSpUDWXUHDXGHJUp SRLJQpHFRPSULVHSRXUO
RXYHUWXUHGH
SUqV WLURLUVODWpUDX[
0RGXOHGHFRPPDQGHKDXW ² (FUDQ7)7VHQVLWLI (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
&KDUQLqUHVjGURLWH ² $SSDUHLOVDQVEDQGHDXGH WHQLUFRPSWHGHO
DQJOHG
RXYHUWXUHGH
%63 ࡱ FRPPDQGHDYHFPRGXOHGH
3RUWHSOHLQYHUUH ࡱ+7 FRPPDQGHVXUODSRUWHYLWUpH /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² 5pJODJHpOHFWURQLTXHGHOD ODQLFKH
+RPH&RQQHFW WHPSpUDWXUHGH&j& /DFRQQH[LRQ/$1VHVLWXHjO
DUULqUH
/DUJHXUFP ² 9ROXPHXWLOHOLWUHV GHO
DSSDUHLOHQEDVjJDXFKH
%63 ࡱ
3RUWHSOHLQYHUUH ࡱ+7 0RGHVGHFXLVVRQ $FFHVVRLUHVVSpFLDX[jFRPPDQGHU
6pULJUDSKLH0HWDOOLF*DJJHQDX G
KXPLGLWp HQWDQWTXHSLqFHVGpWDFKpHV
+RPH&RQQHFW &XLVVRQ6RXV9LGH (71U7DEOHWWHVGH
/DUJHXUFP )HUPHQWDWLRQ GpWDUWUDJH
%63 ࡱ 'pFRQJpODWLRQ
3RUWHSOHLQYHUUH ࡱ+7 5pJpQpUDWLRQ &RQVHLOVG
LQVWDOODWLRQSRXU
6pULJUDSKLH6LOYHU*DJJHQDX 9DSHXUEDVVHWHPSpUDWXUH O
LQWpJUDWLRQHQSDJHV
+RPH&RQQHFW
/DUJHXUFP %DQGHDXGHFRPPDQGH 9DOHXUVGHUDFFRUGHPHQW
&RPPDQGHSDUERXWRQVURWDWLIVHW 3XLVVDQFHWRWDOHN:
&KDUQLqUHVjJDXFKH pFUDQ7)7VHQVLWLI &kEOHGHUDFFRUGHPHQWP
%63 ࡱ $IILFKDJHWH[WHFODLU DYHFSULVH
3RUWHSOHLQYHUUH ࡱ+7 3HUVRQQDOLVDWLRQGHVSURJUDPPHV 3UpYRLUXQFkEOH/$1
6pULJUDSKLH$QWKUDFLWH*DJJHQDX DXWRPDWLTXHV
+RPH&RQQHFW 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/DUJHXUFP 3RUWHjRXYHUWXUHODWpUDOH
%63 ࡱ
3RUWHSOHLQYHUUH ࡱ+7 &DUDFWpULVWLTXHV
6pULJUDSKLH0HWDOOLF*DJJHQDX 5pVHUYRLUG
HDXDPRYLEOHOLWUHV
+RPH&RQQHFW $YHUWLVVHPHQWORUVTXHOHQLYHDXG
HDX
/DUJHXUFP HVWEDV
%63 ࡱ 7KHUPRWHVW$IILFKDJHGHOD
3RUWHSOHLQYHUUH ࡱ+7 WHPSpUDWXUHUpHOOH
6pULJUDSKLH6LOYHU*DJJHQDX )RQFWLRQVGXSURJUDPPDWHXUGXUpH
+RPH&RQQHFW GHODFXLVVRQILQGHODFXLVVRQ
/DUJHXUFP PLQXWHULHFKURQRPqWUHPLQXWHULH
VSpFLDOHFXLVVRQORQJXHGXUpH
/HSUL[FRPSUHQG (WDORQQDJHDXWRPDWLTXHGHOD
UpFLSLHQWHQLQR[SHUIRUpO WHPSpUDWXUHGHYDSRULVDWLRQHQ
UpFLSLHQWHQLQR[QRQSHUIRUpO IRQFWLRQGHO
DOWLWXGH
JULOOH (FODLUDJHODWpUDO/('
(QFHLQWHGHFXLVVRQHQLQR[
$FFHVVRLUHVHQRSWLRQ QLYHDX[G
LQVHUWLRQ
%$ ࡱ
5pFLSLHQWGHFXLVVRQ ࡱ+7 ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH
DQWLDGKpUHQWQRQSHUIRUp SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW
SURIRQGHXUPPO YLDXQFkEOH/$1UHFRPPDQGpRX
%$ ࡱ VDQVILOYLD:L)L
5pFLSLHQWGHFXLVVRQ ࡱ+7 /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
DQWLDGKpUHQWSHUIRUp &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
SURIRQGHXUPPO GHVVHUYLFHV+RPH&RQQHFWGDQVOH
%$ ࡱ SD\VUHVSHFWLI/HVVHUYLFHV+RPH
5pFLSLHQWGHFXLVVRQ ࡱ+7 &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
HQLQR[QRQSHUIRUp WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
SURIRQGHXUPPO ZZZKRPHFRQQHFWFRP
%$ ࡱ
5pFLSLHQWGHFXLVVRQ ࡱ+7 6pFXULWp
HQLQR[SHUIRUp 6pFXULWpHQIDQWV
SURIRQGHXUPPO &RXSXUHGHVpFXULWp
%$ ࡱ 9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
/qFKHIULWHHQYHUUH ࡱ+7 UHIURLGLVVHPHQWGHO
DSSDUHLO
3URIRQGHXUPP
1HWWR\DJH
)RQFWLRQDLGHDXQHWWR\DJH
3URJUDPPHGHGpWDUWUDJHSRXUOH
JpQpUDWHXUGHYDSHXU
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
)RXUPLFURRQGHVFRPELQp6pULH 7HQLUFRPSWHGXGpERUGHPHQW
%03 %03 SRLJQpHFRPSULVHSRXUO
RXYHUWXUHGH
WLURLUVODWpUDX[
² ,QVWDOODWLRQjIOHXU (QFDVG
LQVWDOODWLRQGDQVXQDQJOH
² 8WLOLVDWLRQGXPLFURRQGHVVHXORX WHQLUFRPSWHGHO
DQJOHG
RXYHUWXUHGH
HQFRPELQDLVRQDYHFOHJULOHWOH
IRXU /DSULVHGHUDFFRUGHPHQWGRLWrWUH
² 3URJUDPPDWLRQMXVTX
jPRGHVGH SODFpHHQGHKRUVGHODQLFKH
FXLVVRQFRQVpFXWLIVLQFOXDQWPRGH G
HQFDVWUHPHQW
FRPELQpHWWHPSVGHUHSRV
² (FUDQ7)7VHQVLWLI &RQVHLOVG
LQVWDOODWLRQSRXU
² $SSDUHLOVDQVEDQGHDXGH O
LQWpJUDWLRQHQSDJHV
FRPPDQGHDYHFPRGXOHGH
FRPPDQGHVXUODSRUWHYLWUpH 9DOHXUVGHUDFFRUGHPHQW
0RGXOHGHFRPPDQGHKDXW ² &RQWU{OHpOHFWURQLTXHGHOD 3XLVVDQFHWRWDOHN:
&KDUQLqUHVjGURLWH WHPSpUDWXUH &kEOHGHUDFFRUGHPHQWPVDQV
%03 ࡱ ² 9ROXPHXWLOHOLWUHV SULVH
3RUWHSOHLQYHUUH ࡱ+7
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 3URJUDPPHV
/DUJHXUFP )RQFWLRQPLFURRQGHVSXLVVDQFHV
%03 ࡱ :
3RUWHSOHLQYHUUH ࡱ+7 )RQFWLRQIRXUDYHFPRGHVGH
6pULJUDSKLH0HWDOOLF*DJJHQDX FXLVVRQ
/DUJHXUFP &KDOHXUWRXUQDQWH&HWGH&
%03 ࡱ j&
3RUWHSOHLQYHUUH ࡱ+7 *ULOJUDQGHVXUIDFHFKDOHXU
6pULJUDSKLH6LOYHU*DJJHQDX WRXUQDQWHGH&j&
/DUJHXUFP *ULOJUDQGHVXUIDFHDLUYHQWLOpGH
&j&
&KDUQLqUHVjJDXFKH *ULOJUDQGHVXUIDFHSXLVVDQFHVPD[
%03 ࡱ :
3RUWHSOHLQYHUUH ࡱ+7 0RGHVGHFXLVVRQPLFURRQGHV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX FRPELQpVDYHFOHVSXLVVDQFHVGH
/DUJHXUFP HW:
%03 ࡱ SURJUDPPHVDXWRPDWLTXHVVHORQOH
3RUWHSOHLQYHUUH ࡱ+7 SRLGVUpJODEOHVLQGLYLGXHOOHPHQW
6pULJUDSKLH0HWDOOLF*DJJHQDX SURJUDPPHVGHGpFRQJpODWLRQ
/DUJHXUFP SURJUDPPHVGHFXLVVRQ
%03 ࡱ SURJUDPPHVFRPELQpV
3RUWHSOHLQYHUUH ࡱ+7 3RVVLELOLWpGHPpPRULVHUGHVUHFHWWHV
6pULJUDSKLH6LOYHU*DJJHQDX SHUVRQQHOOHV
/DUJHXUFP
%DQGHDXGHFRPPDQGH
/HSUL[FRPSUHQG &RPPDQGHSDUERXWRQVURWDWLIVHW
JULOOHSRXUFXLVVRQFRPELQpH pFUDQ7)7VHQVLWLI
OqFKHIULWHHQYHUUH $IILFKDJHWH[WHFODLU
7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
3RUWHjRXYHUWXUHODWpUDOH
3ULVH
&DUDFWpULVWLTXHV
7HFKQRORJLH,QQRZDYH 0HVXUHVHQPP
3UpFKDXIIDJHXOWUDUDSLGH
QLYHDX[GHFXLVVRQ Vue latérale BMP au-dessus de BOP
7KHUPRWHVW$IILFKDJHGHOD
WHPSpUDWXUHUpHOOH
(FODLUDJHKDORJqQHODWpUDO:
6pFXULWp
,VRODWLRQWKHUPLTXHGHODSRUWH
YLWUHV
7ULSOHVpFXULWpGHSRUWH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
(QFHLQWHGHFXLVVRQHQLQR[DYHFVROH
HQYLWURFpUDPLTXH
3DURLDUULqUHHQpPDLOFDWDO\WLTXH
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHVQRQUpYHUVLEOHV
3UpYRLUXQHQLFKHVDQVSDURLDUULqUH
(FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
IDoDGHGXPHXEOHPLQPP
'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
YLWUHDYDQWGHO
DSSDUHLOPP
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
OHERUGH[WpULHXUGHODSRLJQpHPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
² ,QVWDOODWLRQjIOHXU
² 3RUWHVDQVSRLJQpHRXYHUWXUH
DXWRPDWLTXH
² 8WLOLVDWLRQHQPRGHPLFURRQGHVHW
JULOVpSDUpPHQWRXHQFRPELQDLVRQ
² 3URJUDPPDWLRQMXVTX
jPRGHVGH
FXLVVRQFRQVpFXWLIVLQFOXDQWPRGH
FRPELQpHWWHPSVGHUHSRV
² (FUDQ7)7VHQVLWLI
² &RQWU{OHpOHFWURQLTXHGHOD
WHPSpUDWXUH
0RGXOHGHFRPPDQGHEDV ² 9ROXPHXWLOHOLWUHV
&KDUQLqUHVjGURLWH
%03 ࡱ 3URJUDPPHV
3RUWHSOHLQYHUUH ࡱ+7 )RQFWLRQPLFURRQGHVDYHF
6pULJUDSKLH$QWKUDFLWH*DJJHQDX SXLVVDQFHV:
/DUJHXUFP *ULOJUDQGHVXUIDFHSXLVVDQFHV
%03 ࡱ PD[:
3RUWHSOHLQYHUUH ࡱ+7 *ULOJUDQGHVXUIDFHFRPELQDEOHDYHF
6pULJUDSKLH0HWDOOLF*DJJHQDX IRQFWLRQPLFURRQGHVHW:
/DUJHXUFP SURJUDPPHVDXWRPDWLTXHVVHORQOH
%03 ࡱ SRLGV
3RUWHSOHLQYHUUH ࡱ+7 SURJUDPPHVGHGpFRQJpODWLRQ
6pULJUDSKLH6LOYHU*DJJHQDX SURJUDPPHVGHFXLVVRQ
/DUJHXUFP SURJUDPPHVFRPELQpV
3RVVLELOLWpGHPpPRULVHUGHVUHFHWWHV 3ULVH
&KDUQLqUHVjJDXFKH SHUVRQQHOOHV 0HVXUHVHQPP
%03 ࡱ
3RUWHSOHLQYHUUH ࡱ+7 %DQGHDXGHFRPPDQGH Installation dans un meuble haut
6pULJUDSKLH$QWKUDFLWH*DJJHQDX 2XYHUWXUHDXWRPDWLTXHGHODSRUWH
/DUJHXUFP &RPPDQGHSDUERXWRQVURWDWLIVHW
%03 ࡱ pFUDQ7)7VHQVLWLI
3RUWHSOHLQYHUUH ࡱ+7 $IILFKDJHWH[WHFODLU
6pULJUDSKLH0HWDOOLF*DJJHQDX 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/DUJHXUFP 3RUWHjRXYHUWXUHODWpUDOH
%03 ࡱ
3RUWHSOHLQYHUUH ࡱ+7 &DUDFWpULVWLTXHV
6pULJUDSKLH6LOYHU*DJJHQDX 7HFKQRORJLH,QQRZDYH
/DUJHXUFP 7KHUPRWHVW$IILFKDJHGHOD
WHPSpUDWXUHUpHOOH
/HSUL[FRPSUHQG (FODLUDJH:
OqFKHIULWHHQYHUUH (QFHLQWHGHFXLVVRQHQLQR[DYHFVROH
JULOOH HQYLWURFpUDPLTXH
6pFXULWp
3RUWHLVROpHDYHFYLWUHV
7ULSOHVpFXULWpGHSRUWH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOH
UHIURLGLVVHPHQWGHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQ
Vue latérale BMP 224/225 au-dessus de BOP
&KDUQLqUHVQRQUpYHUVLEOHV
+DXWHXUPLQLPDOHG
LQVWDOODWLRQFP
SODQFKHULQIpULHXUGHODQLFKH
3LHGVUpJODEOHVHQKDXWHXU
,QVWDOODWLRQGX%03DXGHVVXVGX%23
DYHFXQSODQFKHULQWHUPpGLDLUH
(FDUWODWpUDOHQWUHODSRUWHGXIRXUHWOD
IDoDGHGXPHXEOHPLQPP
'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
YLWUHDYDQWGHO
DSSDUHLOPP
(QFDVG
LQVWDOODWLRQGDQVXQDQJOH
SUpYRLUXQDQJOHG
RXYHUWXUHGHOD
SRUWHGHPLQLPXP
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQHQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
&DUDFWpULVWLTXHV
8QLWpGHEUR\DJHDYHFGLVTXHVHQ
FpUDPLTXHVDQVHQWUHWLHQ
&RPSDUWLPHQWVpSDUpSRXUXQHH
VRUWHGHFDIpPRXOX
3RPSHjHDX%DUGHSUHVVLRQ
'RXEOHPRXWXUHHWGRXEOHpEXOOLWLRQ
SRXUGHVERLVVRQVH[WUDIRUWHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7LURLU6RXV9LGH6pULH &RQVHLOVG
LQVWDOODWLRQSRXU
'9 O
LQWpJUDWLRQHQSDJHV
² 7RXWLQWpJUDEOHGDQVXQHQLFKHGH 9DOHXUVGHUDFFRUGHPHQW
PHXEOHKDXWHXUFP 3XLVVDQFHWRWDOHN:
² +DELOODJHQpFHVVDLUHDYHFIDoDGH &kEOHGHUDFFRUGHPHQWP
GHPHXEOHHWSRLJQpHDSSDUHQWHRX DYHFSULVH
LQWpJUpH
'9 ࡱ ² &RPSDUWLPHQW6RXV9LGH
7RXWLQWpJUDEOH ࡱ+7 K\JLpQLTXHHQLQR[KDXWHXUXWLOH
/DUJHXUFP+DXWHXUFP PD[LPDOHGHPP
² QLYHDX[G·DVSLUDWLRQGDQVOH
/HSUL[FRPSUHQG FRPSDUWLPHQWPD[
6DFVSHWLWPRGqOHSFV ² QLYHDX[G·DVSLUDWLRQKRUV
6DFVJUDQGPRGqOHSFV FRPSDUWLPHQWPD[
5HKDXVVHXU ² 'pWHFWLRQDXWRPDWLTXHGHOD
$GDSWDWHXUSRXUPLVH6RXV9LGH FRQQH[LRQSRXUODPLVH6RXV9LGH
FRQWHQDQWVH[WHUQHV GDQVXQFRQWHQDQWH[WHUQH
7X\DXSRXUPLVH6RXV9LGH ² )HUPHWXUHGRXFHV
$GDSWDWHXUSRXUPLVH6RXV9LGH
ERXWHLOOHV 8WLOLVDWLRQV
%RXFKRQVSRXUPLVH6RXV9LGH 0LVH6RXV9LGHSRXUFXLVVRQ6RXV
ERXWHLOOHV 9LGH
0LVH6RXV9LGHSRXUPDULQHU
$FFHVVRLUHVHQRSWLRQ UDSLGHPHQWHWDURPDWLVHU
%$ ࡱ 0LVH6RXV9LGHSRXUSURORQJHUOD
6DFVSRXUPLVH ࡱ+7 GXUpHGHFRQVHUYDWLRQ
VRXVYLGHSHWLWPRGqOH 0LVH6RXV9LGHGDQVFRQWHQDQWV
PP[PPSLqFHV H[WHUQHV
%$ ࡱ 0LVH6RXV9LGHGHOLTXLGHVGDQV
6DFVSRXUPLVH ࡱ+7 ERXWHLOOHVjO·H[WpULHXUGX
VRXVYLGHJUDQGPRGqOH FRPSDUWLPHQW
PP[PPSLqFHV
%DQGHDXGHFRPPDQGH
&RPPDQGHVSDUWRXFKHVVHQVLWLYHV
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&KDUJHPD[LPDOHNJ
7DLOOHPD[LPDOHGXVDFGHPLVHVRXV
YLGHOPP[/PP
QLYHDX[GHWKHUPRVRXGXUHSRXU
GLIIpUHQWHVpSDLVVHXUVGHVDFV
%DUUHGHWKHUPRVRXGXUHDQWLDGKpUHQWH
DPRYLEOH
&RXYHUFOHHQYHUUHGHVpFXULWp
RXYHUWXUHDXWRPDWLTXHDSUqVPLVH
VRXVYLGH
5HKDXVVHXUSRXUPLVHVRXVYLGH
PPLQWpJUDEOH
(VSDFHXWLOHGDQVFRPSDUWLPHQW
OPP[/PP
0HPEUDQHSRXUpYLWHUOHUHIOX[GHV
OLTXLGHVHQFDVGHPLVHVRXVYLGHGDQV
XQFRQWHQDQWH[WHUQH
3URJUDPPHGHVpFKDJHSRXUODSRPSH
DVSLUDQWH
)RQFWLRQDODUPH
&RQVHLOVG
LQVWDOODWLRQ
$WWHQWLRQSUpYRLUREOLJDWRLUHPHQWXQH
SRLJQpHDSSRVpHVXUODIDoDGH
G
KDELOODJHRXXQHSRLJQpHLQWpJUpH
SRXUSHUPHWWUHO
RXYHUWXUHGHFHW
DSSDUHLO
(VSDFHODWpUDOQpFHVVDLUHGHPLQL
PPHQWUHIDoDGHGHO
DSSDUHLOHW
SDQQHDXG
KDELOODJHGXPHXEOH
,QVWDOODWLRQ%6%0&0GLUHFWHPHQW
DXGHVVXVGH'9GDQVQLFKHGHFP
VDQVSODQFKHULQWHUPpGLDLUH
,QVWDOODWLRQSRVVLEOHVRXVOHSODQGH
WUDYDLORXGDQVXQHQLFKHLQGLYLGXHOOH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
7LURLU6RXV9LGH6pULH
'93
² ,QWpJUDEOHGDQVXQHQLFKHGH
PHXEOHKDXWHXUFP
² &RPSDUWLPHQW6RXV9LGH
+\JLpQLTXHHQLQR[KDXWHXUXWLOH
PD[LPDOHGHPP
'93 ࡱ ² QLYHDX[G
DVSLUDWLRQGDQVOH
)DoDGHHQYHUUH ࡱ+7 FRPSDUWLPHQWPD[
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² QLYHDX[G
DVSLUDWLRQKRUV
/DUJHXUFP+DXWHXUFP FRPSDUWLPHQWPD[
'93 ࡱ ² 'pWHFWLRQDXWRPDWLTXHGHOD
)DoDGHHQYHUUH ࡱ+7 FRQQH[LRQSRXUODPLVH6RXV9LGH
6pULJUDSKLH0HWDOOLF*DJJHQDX GDQVXQFRQWHQDQWH[WHUQH
/DUJHXUFP+DXWHXUFP ² ,QVWDOODWLRQjIOHXU
'93 ࡱ ² 7LURLUVDQVSRLJQpH
)DoDGHHQYHUUH ࡱ+7 ² 6\VWqPHG
RXYHUWXUH3XVK3XOO
6pULJUDSKLH6LOYHU*DJJHQDX
/DUJHXUFP+DXWHXUFP 8WLOLVDWLRQV
0LVH6RXV9LGHSRXUFXLVVRQ
/HSUL[FRPSUHQG 6RXV9LGH
6DFVSHWLWPRGqOHSFV 0LVH6RXV9LGHSRXUPDULQHU
6DFVJUDQGPRGqOHSFV UDSLGHPHQWHWDURPDWLVHU
5HKDXVVHXU 0LVH6RXV9LGHSRXUSURORQJHUOD
$GDSWDWHXUSRXUPLVH6RXV9LGH 'XUpHGHFRQVHUYDWLRQ 3ULVH
FRQWHQDQWVH[WHUQHV 0LVH6RXV9LGHGDQVFRQWHQDQWV
7X\DXSRXUPLVH6RXV9LGH H[WHUQHV
0HVXUHVHQPP
$GDSWDWHXUSRXUPLVH6RXV9LGH 0LVH6RXV9LGHGHOLTXLGHV
ERXWHLOOHV GDQVERXWHLOOHVjO
H[WpULHXUGX
%RXFKRQVSRXUPLVHVRXV9LGH FRPSDUWLPHQW
ERXWHLOOHV
%DQGHDXGHFRPPDQGH
$FFHVVRLUHVHQRSWLRQ &RPPDQGHVSDUWRXFKHVVHQVLWLYHV
%$ ࡱ
6DFVSRXUPLVH ࡱ+7 &DUDFWpULVWLTXHV
VRXVYLGHSHWLWPRGqOH 9ROXPHXWLOHOLWUHV
PP[PPSLqFHV &KDUJHPD[LPDOHNJ
%$ ࡱ 7DLOOHPD[LPDOHGXVDFGHPLVHVRXV
6DFVSRXUPLVH ࡱ+7 YLGHOPP[/PP
VRXVYLGHJUDQGPRGqOH QLYHDX[GHWKHUPRVRXGXUHSRXU
PP[PPSLqFHV GLIIpUHQWHVpSDLVVHXUVGHVDFV
%DUUHGHWKHUPRVRXGXUHDQWLDGKpUHQWH
DPRYLEOH
&RXYHUFOHHQYHUUHGHVpFXULWp
RXYHUWXUHDXWRPDWLTXHDSUqVPLVH
VRXVYLGH
5HKDXVVHXUSRXUPLVHVRXVYLGH
PPLQWpJUDEOH
(VSDFHXWLOHGDQVFRPSDUWLPHQW
/PP[OPP
0HPEUDQHSRXUpYLWHUOHUHIOX[GHV
OLTXLGHVHQFDVGHPLVHVRXVYLGHGDQV
XQFRQWHQDQWH[WHUQH
3URJUDPPHGHVpFKDJHSRXUODSRPSH
DVSLUDQWH
)RQFWLRQDODUPH
&RQVHLOVG
LQVWDOODWLRQ
(VSDFHODWpUDOQpFHVVDLUHGHPLQL 0HVXUHVHQPP
PPHQWUHIDoDGHGHO
DSSDUHLOHW
SDQQHDXG
KDELOODJHGXPHXEOH
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHW
ODIDoDGHGHO
DSSDUHLOPP
,QVWDOODWLRQ%6%0&0GLUHFWHPHQW
DXGHVVXVGH'9GDQVQLFKHGHFP
VDQVSODQFKHULQWHUPpGLDLUH
,QVWDOODWLRQSRVVLEOHVRXVOHSODQGH
WUDYDLORXGDQVXQHQLFKHLQGLYLGXHOOH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
0LVHHQSODFHREOLJDWRLUHGXILOWUHj
KXLOHGDQVODSRPSH
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7LURLUFKDXIIDQW6pULH
:63
² ,QVWDOODWLRQjIOHXU
² 7LURLUFKDXIIDQWVDQVSRLJQpH
² 6\VWqPHG
RXYHUWXUH3XVK3XOO
² ,QWpULHXUHQLQR[DYHFVROHHQYHUUH
² QLYHDX[GHUpJODJHDYHF
:63 ࡱ WHPSpUDWXUHVGH&j&
)DoDGHHQYHUUH ࡱ+7 VROHHQYHUUH
6pULJUDSKLH$QWKUDFLWH*DJJHQDX ² (JDOHPHQWSRXUODSUpSDUDWLRQHWOD
/DUJHXUFP+DXWHXUFP FXLVVRQGHVDOLPHQWVDLQVLTXH
:63 ࡱ SRXUOHPDLQWLHQDXFKDXGGHV
)DoDGHHQYHUUH ࡱ+7 DOLPHQWV
6pULJUDSKLH0HWDOOLF*DJJHQDX
/DUJHXUFP+DXWHXUFP 0RGHVGHFXLVVRQ WSP 221 sous BSP, BMP, CMP
:63 ࡱ 'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
)DoDGHHQYHUUH ࡱ+7 3UpFKDXIIDJHGHSHWLWVFRQWHQDQWV
6pULJUDSKLH6LOYHU*DJJHQDX SRXUERLVVRQV
/DUJHXUFP+DXWHXUFP 0DLQWLHQDXFKDXG&XLVVRQEDVVH
WHPSpUDWXUHG
DOLPHQWV
3UpFKDXIIHUODYDLVVHOOH
%DQGHDXGHFRPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&DSDFLWpYDLVVHOOHSRXUSHUVDYHF
DVVLHWWHVGLDPFPHWEROVjVRXSH
VDODGLHUVHWXQSODWGHVHUYLFHVHORQ
WDLOOH
&KDUJHPD[LPDOHNJ
'LPHQVLRQVLQWpULHXUHVXWLOHV
/[+[3PP
5pVLVWDQFHVRXVODVROHHQYHUUHSRXU
XQHQWUHWLHQIDFLOH
9HQWLODWLRQLQWpJUpHDVVXUDQWXQH
UpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXIIDJHSOXVUDSLGHGHOD
YDLVVHOOH
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQW
VXUODIDoDGHHQYHUUH
6ROHHQYHUUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
(VSDFHODWpUDOQpFHVVDLUHGHPLQL
PPHQWUHIDoDGHGHO
DSSDUHLOHW
SDQQHDXG
KDELOODJHGXPHXEOH
'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
YLWUHDYDQWGHO
DSSDUHLOPP
,QVWDOODWLRQ%63%03&03
GLUHFWHPHQWDXGHVVXV:63GDQVXQH
QLFKHGHFPVDQVSODQFKHU
LQWHUPpGLDLUH
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
)RXUV6pULH
7LURLUFKDXIIDQW6pULH
:63
² ,QVWDOODWLRQjIOHXU
² 7LURLUFKDXIIDQWVDQVSRLJQpH
² 6\VWqPHG
RXYHUWXUH3XVK3XOO
² ,QWpULHXUHQLQR[DYHFVROHHQYHUUH
² QLYHDX[GHUpJODJHDYHF
WHPSpUDWXUHVGH&j&
VROHHQYHUUH
² (JDOHPHQWSRXUODSUpSDUDWLRQHWOD
FXLVVRQGHVDOLPHQWVDLQVLTXH
:63 ࡱ SRXUOHPDLQWLHQDXFKDXGGHV
)DoDGHHQYHUUH ࡱ+7 DOLPHQWV
6pULJUDSKLH$QWKUDFLWH*DJJHQDX
/DUJHXUFP+DXWHXUFP 0RGHVGHFXLVVRQ
:63 ࡱ 'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
)DoDGHHQYHUUH ࡱ+7 3UpFKDXIIDJHGHSHWLWVFRQWHQDQWV
6pULJUDSKLH0HWDOOLF*DJJHQDX SRXUERLVVRQV
/DUJHXUFP+DXWHXUFP 0DLQWLHQDXFKDXG&XLVVRQEDVVH
:63 ࡱ WHPSpUDWXUHG
DOLPHQWV
)DoDGHHQYHUUH ࡱ+7 3UpFKDXIIHUODYDLVVHOOH
6pULJUDSKLH6LOYHU*DJJHQDX
/DUJHXUFP+DXWHXUFP %DQGHDXGHFRPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
&DUDFWpULVWLTXHV
9ROXPHXWLOHOLWUHV
&DSDFLWpYDLVVHOOHSRXUSHUVDYHF
DVVLHWWHVGLDPFPHWEROVjVRXSH
VDODGLHUVHWXQSODWGHVHUYLFHVHORQ
WDLOOH
&KDUJHPD[LPDOHNJ
'LPHQVLRQVLQWpULHXUHVXWLOHV
/[+[3PP
5pVLVWDQFHVRXVODVROHHQYHUUHSRXU
XQHQWUHWLHQIDFLOH
9HQWLODWLRQLQWpJUpHDVVXUDQWXQH
UpSDUWLWLRQKRPRJqQHGHODFKDOHXUHW
XQSUpFKDXIIDJHSOXVUDSLGHGHOD
YDLVVHOOH
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQW
VXUODIDoDGHHQYHUUH
6ROHHQYHUUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
(VSDFHODWpUDOQpFHVVDLUHGHPLQL
PPHQWUHIDoDGHGHO
DSSDUHLOHW
SDQQHDXG
KDELOODJHGXPHXEOH
'LVWDQFHHQWUHOHFRUSVPHXEOHHWOD
YLWUHDYDQWGHO
DSSDUHLOPP 0HVXUHVHQPP
5DFFRUGHPHQWpOHFWULTXHSRVVLEOH
GHUULqUHO
DSSDUHLO
&RQVHLOVG
LQVWDOODWLRQSRXU
O
LQWpJUDWLRQSDJHV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHDEVRUEpHN:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$FFHVVRLUHVSRXU6pULH
1RWLILFDWLRQWRXVOHVDFFHVVRLUHVQHV
DGDSWHQWSDVjWRXVOHVIRXUV3OXVGHSUpFLVLRQVGDQVOHVWDEOHDX[SDJHV
%$ ࡱ
5pFLSLHQWHQLQR[ ࡱ+7
SHUIRUp
SURIRQGHXUPPOLWUH
%$ ࡱ
5pVLVWDQFH ࡱ+7
SRXUSLHUUHjSDLQHWjSL]]DVHWIDLWRXW
%$ ࡱ HQIRQWH
5pFLSLHQWDQWLDGKpUHQW ࡱ+7 3RXUIRXUVS\URO\VHFP
QRQSHUIRUp
SURIRQGHXUPPOLWUHV
%$ ࡱ
5pFLSLHQWHQLQR[ ࡱ+7
%$ ࡱ SHUIRUpPPOLWUHV
*ULOOH ࡱ+7
VDQVRXYHUWXUHDYHFSLHGV
3RXUIRXUVS\URO\VHFP
&RQVHLO
7RXVOHVDFFHVVRLUHVQHV
DGDSWHQWSDV
GDQVWRXVOHVIRXUV3OXVGHSUpFLVLRQV
GDQVOHVWDEOHDX[S
3RXUFRPPDQGHUFHVDFFHVVRLUHVHQ
OLJQHVHUHSRUWHUDX[SDJHV
$FFHVVRLUHVIRXUV6pULH
/LYUpGHVpULH
$FFHVVRLUHVSpFLDO
)RXUV6pULH
)RXUV6pULH
7\SHG
DSSDUHLO )RXU )RXU
&KDUQLqUHVjGURLWHJDXFKH %23%23 %23%23
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH %23 %23
3RUWHSOHLQYHUUH*DJJHQDX0HWDOOLF %23 %23
3RUWHSOHLQYHUUH*DJJHQDX6LOYHU %23 %23
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH(>FLHQFHpQHUJpWLTXHVHORQQRUPHV(8(1HW
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
&ODVVHG
HZFDFLWppQHUJpWLTXHHQ&KDOHXUWRXUQDQWH(FR $ $
,QGH[(ZFLHQFH(QHUJpWLTXH((,
&RQVRPPDWLRQ6ROH9RWH N:K
&RQVRPPDWLRQ&KDOHXUWRXUQDQWH(FR N:K
6RXUFHG
pQHUJLH (OHFWULTXH (OHFWULTXH
0RGHVGHFXLVVRQ
3ODJHGHWHPSpUDWXUH & ² ²
&KDOHXUWRXUQDQWH&KDOHXUWRXUQDQWH(FR9RWH6ROH
9RWH6ROH&KDOHXUWRXUQDQWH6ROH
*ULOJUDQGHVXUIDFH$LUYHQWLOp
*ULOJUDQGHVXUIDFH
*ULO(FR ²
&XLVVRQVXUSLHUUHjSDLQHWjSL]]DV
&XLVVRQGDQVIDLWRXWHQIRQWH ²
(WXYH'pFRQJpODWLRQ0DLQWLHQDXFKDXG ² ²²²
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWEDV ² ²
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
5HFHWWHVSHUVRQQHOOHV
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
6RQGHWKHUPRPpWULTXHDPRYLEOHjSRLQWVGHPHVXUH ²
3URJUDPPHDXWRPDWLTXHV ²
3ULVHSRXUSLHUUHjSDLQHWjSL]]DV
)RQFWLRQVDLVLUGDQVIDLWRXW ²
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
3UpFKDXWDJHUDSLGH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
(FODLUDJHKDORJqQHYRWH :
1LYHDX[GHFXLVVRQ 1E
&RQQH[LRQ+RPH&RQQHFWYLD/$1RXYLD:L)L ó ó
$FFHVVRLUHV
7{OHjSkWLVVHULHpPDLOOpH
7DLOOHGHODSOXVJUDQGHW{OHGHFXLVVRQ FPò
*ULOOH
/qFKHIULWHpPDLOOp*ULOOHSRXUOqFKHIULWH %$òò %$òò
/qFKHIULWHHQYHUUH
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHDYHFSOXVLHXUVYLWUHV YLWUHV YLWUHV
6pFXULWpHQIDQWV9HUURXLOODJHSRUWH&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
$XWRQHWWR\DJHSDUS\URO\VH
3DURLFDWDO\WLTXHIRQGGHIRXUSODIRQG ² ²
(PDLOEOHX*DJJHQDX
&DWDO\VHXUpOHFWULTXHGHIXPpHVSXUL=DQWO
DLUUHMHWp
)LOWUHjJUDLVVHGHYDQWOHYHQWLODWHXUG
DLUFKDXG ² ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
ò$FFHVVRLUHVHQRSWLRQ
ó/
XWLOLVDWLRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)RXUV6pULH
)RXU
%23%23
%23
%23
%23
[[
[[
[[
$
(OHFWULTXH
²
²
²
²²²
²
²
²
²
ó
²
%$ò
YLWUHV
²
òò
²
)RXUV&RPELYDSHXUHW)RXUVYDSHXU6pULH
7\SHG
DSSDUHLO )RXU&RPELYDSHXU )RXU&RPELYDSHXU
&KDUQLqUHVjGURLWHjJDXFKH %63%63 %63%63
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH %63%63 %63%63
3RUWHSOHLQYHUUH*DJJHQDX0HWDOOLF %63%63 %63%63
3RUWHSOHLQYHUUH*DJJHQDX6LOYHU %63%63 %63%63
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH(IILFLHQFHpQHUJpWLTXHVHORQQRUPH(8(1(7
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
&ODVVHG
HZFLHQFHpQHUJpWLTXHHQ&KDOHXUWRXUQDQWHG
KXPLGLWp $ $
,QGH[(ZFLHQFH(QHUJpWLTXH((,
&RQVRPPDWLRQHQ&KDOHXUWRXUQDQWHG
KXPLGLWp N:K
6RXUFHG
pQHUJLH (OHFWULTXH (OHFWULTXH
0RGHVGHFXLVVRQ
3ODJHGHWHPSpUDWXUH & ² ²
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
&KDOHXUWRXUQDQWHG
KXPLGLWp
KXPLGLWp ² ²
&XLVVRQEDVVHWHPSpUDWXUH
&XLVVRQYDSHXUEDVVHWHPSpUDWXUH ² ²
&XLVVRQVRXVYLGH
*ULOJUDQGHVXUIDFHQLYHDXKXPLGLWp
*ULOJUDQGHVXUIDFHQLYHDXKXPLGLWp
*ULOJUDQGHVXUIDFH$LUYHQWLOp
)HUPHQWDWLRQ
'pFRQJpODWLRQ
5pJpQpUDWLRQ
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWEDV ² ²
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
5HFHWWHVSHUVRQQHOOHV
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
9DSHXUVDQVSUHVVLRQ
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
*ULOJUDQGHVXUIDFHGHUULqUHYLWURFpUDPLTXH
6RQGHWKHUPRPpWULTXHjSRLQWVGHPHVXUH
3URJUDPPHVDXWRPDWLTXHV
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHUXHFKURQRPqWUH
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH
'pWHFWLRQDXWRPDWLTXHGXSRLQWG
pEXOOLWLRQ
&DSDFLWpGXUpVHUYRLUG
HDXDYHUWLVVHPHQWQLYHDXPLQLPXP O
(FODLUDJHODWpUDO/(' :
1LYHDX[GHFXLVVRQLQWpULHXULQR[ 1E
+RPH&RQQHFWYLD/$1RX:L)Ló
$FFHVVRLUHV
7DLOOHGHODSOXVJUDQGHW{OHGHFXLVVRQ FPò
*ULOOH
5pFLSLHQW*DVWUR1RUPLQR[PPSHUIRUpQRQSHUIRUp
&DUWRXFKHVGHQHWWR\DJH ²
7DEOHWWHVGHGpWDUWUDJH ò ò
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHDYHFSOXVLHXUVYLWUHV YLWUHV YLWUHV
6pFXULWpHQIDQW9HUURXLOODJHGHSRUWH&RXSXUHGHVpFXULWp
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
$LGHDXQHWWR\DJH3URJUDPPHGHQHWWR\DJH
$LGHDXGpWDUWUDJH3URJUDPPHGHVpFKDJH ² ²
6pFKDJHDXWRPDWLTXHjOD=QGXSURJUDPPHGHFXLVVRQ
)LOWUHjJUDLVVHGHYDQWODVRUWLHG
DLUFKDXG ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKHò$FFHVVRLUHSLqFHGpWDFKpHRQOLQH
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)RXUV6pULH
)RXU&RPELYDSHXU )RXUYDSHXU
%63%63 %63%63
%63%63 %63%63
%63%63 %63%63
%63%63 %63%63
[[ [[
[[ [[
[[ [[
$
(OHFWULTXH
² ²
²
²
²
²
²
²
²
²
²
²
²
² ²
²
²
²
²
² ²
ò ò
YLWUHV YLWUHV
²
² ²
²
)RXUVPLFURRQGHVFRPELQpHWIRXUVPLFURRQGHV6pULH
7\SHG
DSSDUHLO )RXUFRPELQpPLFURRQGHV 0LFURRQGHV
&KDUQLqUHVjGURLWHJDXFKH %03%03 %03%03
3RUWHSOHLQYHUUH*DJJHQDX$QWKUDFLWH %03%03 %03%03
3RUWHSOHLQYHUUH*DJJHQDX0HWDOOLF %03%03 %03%03
3RUWHSOHLQYHUUH*DJJHQDX6LOYHU %03%03 %03%03
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
[[0HXEOHKDXW
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
0RGHVGHFXLVVRQ
3XLVVDQFHPD[LPXPGXPLFURRQGHV :
1LYHDX[GHSXLVVDQFHGXPLFURRQGHV 1E
&KDOHXUWRXUQDQWHDYHFUpJXODWLRQGHWHPSpUDWXUH & ² ²
*ULOJUDQGHVXUIDFHFKDOHXUWRXUQDQWHDYHFUpJXODWLRQGHWHPSpUDWXUH & ² ²
*ULOJUDQGHVXUIDFH$LUYHQWLOpDYHFUpJXODWLRQGHWHPSpUDWXUH & ² ²
*ULOJUDQGHVXUIDFHTXDUW]DYHFQLYHDX[G
LQWHQVLWp 1E
3XLVVDQFHPD[LPDOHGXJULO :
3XLVVDQFHHQFKDOHXUWRXUQDQWH : ²
3XLVVDQFHPD[LPDOHGXPLFURRQGHVHQFRPELQDLVRQDYHFJULOHWIRXU :
2SpUDWLRQVVpTXHQFpHVMXVTX
jPRGHVLQFO3URJUDPPDWLRQG
RSpUDWLRQV
FRPELQpHVHWWHPSVGHUHSRV
3URJUDPPHVDXWRPDWLTXHVVHORQOHSRLGV 1E
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXWEDV ² ²
2XYHUWXUHDXWRPDWLTXHGHSRUWH
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
5HFHWWHVSHUVRQQHOOHV
3RUWHjRXYHUWXUHODWpUDOH
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXHGHWHPSpUDWXUH
7KHUPRWHVW$ZFKDJHGHODWHPSpUDWXUHUpHOOH ²
3UpFKDXWDJHUDSLGH ²
6\VWqPH,QQRZDYH
'XUpHGHODFXLVVRQ=QGHODFXLVVRQPLQXWHULHFKURQRPqWUH ²²²
0LQXWHULHVSpFLDOHFXLVVRQORQJXHGXUpH ²
(FODLUDJHLQWpULHXUODWpUDO :
1LYHDX[GHFXLVVRQ 1E ²
$FFHVVRLUHV
3ODWHDXYHUUH
*ULOOH
7LJHHQYHUUH
6pFXULWp
3RUWHDYHFLVRODWLRQWKHUPLTXHDYHFSOXVLHXUVYLWUHV
6pFXULWpHQIDQWV&RXSXUHGHVpFXULWp ²
7ULSOHVpFXULWpGHSRUWH
9HQWLODWHXUWDQJHQWLHOIDYRULVDQWOHUHIURLGLVVHPHQWGHO
DSSDUHLO
1HWWR\DJH
3DURLDUULqUHHQpPDLOFDWDO\WLTXHLQWpULHXUQRLU ²
,QWpULHXULQR[DYHFVROHHQYLWURFpUDPLTXH
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
0DFKLQHjFDIpH[SUHVVRWRXWDXWRPDWLTXH6pULH )RXUV6pULH
7\SHG
DSSDUHLO 0DFKLQHH[SUHVVRWRXWDXWRPDWLTXH
3RUWHSOHLQYHUUHVpULJUDSKLH*DJJHQDX$QWKUDFLWH &03
3RUWHSOHLQYHUUHVpULJUDSKLH*DJJHQDX0HWDOOLF &03
3RUWHSOHLQYHUUHVpULJUDSKLH*DJJHQDX6LOYHU &03
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3ñ PP [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGXIRXU PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[
3RLGVQHW NJ
7\SHGHERLVVRQ
5LVWUHWWR[5LVWUHWWR
([SUHVVR[([SUHVVR
([SUHVVR0DFFKLDWR[([SUHVVR0DFFKLDWR
&DIp[&DIp
$PpULFDQR[$PpULFDQR
&DIp/DWWH[&DIp/DWWH
/DWWH0DFFKLDWR[/DWWH0DFFKLDWR
&DSSXFLQR[&DSSXFLQR
)ODW:KLWH[)ODW:KLWH
0RXVVHGHODLW[0RXVVHGHODLW
/DLWFKDXG[/DLWFKDXG
(DXFKDXGH[(DXFKDXGH
%DQGHDXGHFRPPDQGH
(FUDQ7)7VHQVLWLI
0RGXOHGHFRPPDQGHKDXW
2XYHUWXUHDXWRPDWLTXHGHSRUWH
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
)RQFWLRQVERLVVRQVSHUVRQQDOLVDEOHVHWPpPRULVDEOHV 1E
5pJODJHSRVVLEOHGHVWDLOOHVGHWDVVHV 1E
1LYHDX[G
LQWHQVLWpGXFDIp 1E
1LYHDX[GHWHPSpUDWXUHSRXUOHFDIp 1E
1LYHDX[GHWHPSpUDWXUHSRXUO
HDXFKDXGH &
&KRL[GHODTXDQWLWpGHODLW
%XVHGHVRUWLHGXFDIpUpJODEOHHQKDXWHXU FP
5pJODJHVGHEDVHSURJUDPPpV
3RVVLELOLWpG
pFODLUDJH 1E
8QLWpGHPHVXUH POYR]
5pJODJHW\SHHWWDLOOHGHERLVVRQGpVLUpHVHORQODWDLOOHGHODWDVVH
0LVHHQYHLOOH PLQK PLQjK
'XUHWpGHO
HDX 1EGHQLYHDX[ V\VWqPHG
DGRXFLVVHXUG
HDX
)LOWUHjHDX
&DUDFWpULVWLTXHV
7HFKQRORJLH$URPDSHUPHWWDQWGHGpJDJHUWRXWO
D{PHGXFDIp
%UR\HXUFpUDPLTXH
$MXVWHPHQWDXWRPDWLTXHGHODTXDQWLWpGHFDIpPRXOX
&KDXWHHDX
3RPSHjHDX EDU
'LVWULEXWHXUDYHFV\VWqPHGHODLWLQWpJUp
5pVHUYRLUjODLWLVROp O
5pVHUYRLUjJUDLQV J
&RPSDUWLPHQWVpSDUpSRXUFDIpPRXOX
5pJODJHGXGHJUpGHPRXWXUH
9ROXPHGXFRPSDUWLPHQWG
DMXVWHPHQWDXWRPDWLTXHGHODTXDQWLWp
J j
GHFDIp
)RQFWLRQGRXEOHGRVHSRXUERLVVRQVH[WUDIRUWHV
)RQFWLRQGRXEOHPRXWXUHHWGRXEOHpEXOOLWLRQGHO
HDXSRXUOHVERLVVRQVSDU
5pVHUYRLUG
HDXDPRYLEOH O
&DUWRXFKHGH=OWUDJHSRXUOHUpVHUYRLUG
HDX
6\VWqPHGHQHWWR\DJH6LQJOH3RUWLRQ&OHDQLQJDSUqVFKDTXHXWLOLVDWLRQ
$ZFKDJHpOHFWURQLTXHSRXUOHUHPSODFHPHQWGX=OWUHjHDX
&RQWU{OHpOHFWURQLTXHGXWDX[GHUHPSOLVVDJHGHVUpVHUYRLUVG
HDXHWGHFDIp
&RQWU{OHpOHFWURQLTXHGXWDX[GHUHPSOLVVDJHGHVEDFVUpFXSpUDWHXUGXPDUF
GHFDIpHWG
HDX
(FODLUDJH/('LQWpJUp
6pFXULWp
6pFXULWpHQIDQW
1HWWR\DJH
3URJUDPPHDXWRPDWLTXHGHULQoDJHORUVGHODPLVHHQURXWHjO
DUUrW
3URJUDPPHDXWRPDWLTXHUDSLGHGHULQoDJHGXV\VWqPHjODLW
3URJUDPPHDXWRPDWLTXHGHQHWWR\DJHHWGHGpWDUWUDJH
3URJUDPPHDXWRPDWLTXHGHQHWWR\DJH
3URJUDPPHDXWRPDWLTXHGHGpWDUWUDJH
&KDPEUHGHFRPSUHVVLRQ
%DFVGHUpFXSpUDWLRQGXPDUFGHFDIpHWG
HDXODYDEOHDXODYHYDLVVHOOH
0RXVVHXUGHODLWODYDEOHDXODYHYDLVVHOOH
3URJUDPPHGHYLGDQJHSRXUSUpSDUHUO
DSSDUHLOSRXUOHVYDFDQFHVRXOHWUDQVSRUW
)RQFWLRQYLGDQJHGXUpVHUYRLUjJUDLQVSRXUFKDQJHPHQWGHW\SHGHFDIp
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUGHO
DSSDUHLOGDQVODQLFKH
7LURLUGHPLVHVRXVYLGH6pULH
7\SHG
DSSDUHLO 7LURLUPLVHVRXVYLGH 7LURLUPLVHVRXVYLGH
)DoDGHSOHLQYHUUH*DJJHQDX$QWKUDFLWH '93
)DoDGHSOHLQYHUUH*DJJHQDX0HWDOOLF '93
)DoDGHSOHLQYHUUH*DJJHQDX6LOYHU '93
7RXWLQWpJUDEOHIDoDGHKDELOODEOHPHXEOHGHFXLVLQHSUpYRLUSRLJQpHRXSRLJQpHLQWpJUpH '9
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGHO
DSSDUHLO PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
7DLOOHPD[LPDOHGHVVDFVGHPLVHVRXVYLGH PP [ [
)RQFWLRQV
1LYHDX[GHPLVHVRXVYLGH PD[ PD[
1LYHDX[GHWKHUPRVRXGXUH
0LVHVRXVYLGHGHVDFVHWFRQWHQDQWV
0LVHVRXVYLGHGHUpFLSLHQWVVRXVYLGHHWGHERXWHLOOHV
0LVHVRXVYLGHGHOLTXLGHV
3URJUDPPHGHVpFKDJHGHODSRPSH
$ODUPHGHG\VIRQFWLRQQHPHQW
&RPPDQGH
&RPPDQGHjWRXFKHVVHQVLWLYHV
7LURLUVDQVSRLJQpH
3RLJQpHHQFDVWUpH ²
2XYHUWXUHDYHFV\VWqPHSXVKWRRSHQ ²
)HUPHWXUHGRXFH ²
(TXLSHPHQW$FFHVVRLUHV
&RPSDUWLPHQWGHPLVHVRXVYLGHHQLQR[
&KDUJHPD[LPDOH NJ
+DXWHXUXWLOH PP
&RXYHUFOHHQYHUUHGHVpFXULWp
%DUUHGHWKHUPRVRXGXUHDQWLDGKpVLYHDPRYLEOH
5HKDXVVHXU
$GDSWDWHXUDYHFWX\DXSRXUPLVHVRXVYLGHHQGHKRUVGXFRPSDUWLPHQW
'LPHQVLRQGHODVXUIDFHXWLOHGDQVOHFRPSDUWLPHQW/[O PP [ [
0HPEUDQHDQWLUHWRXUGXOLTXLGHSRXUPLVHVRXVYLGHGDQVFRQWHQDQWVH[WHUQHV
6DFVSRXUPLVHVRXVYLGHSHWLWPRGqOHPP[PP SLqFHV
6DFVSRXUPLVHVRXVYLGHJUDQGPRGqOHPP[PP SLqFHV
%RXFKRQVSRXUPLVHVRXVYLGHGHERXWHLOOHV SLqFHV
$GDSWDWHXUSRXUERXFKRQVSRXUPLVHVRXVYLGHGHERXWHLOOHV
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
7LURLUVFKDXIIDQWV6pULH )RXUV6pULH
7\SHG
DSSDUHLO 7LURLUFKDXIIDQW 7LURLUFKDXIIDQW
)DoDGHSOHLQYHUUH*DJJHQDX$QWKUDFLWH :63 :63
)DoDGHSOHLQYHUUH*DJJHQDX0HWDOOLF :63 :63
)DoDGHSOHLQYHUUH*DJJHQDX6LOYHU :63 :63
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[ [[
'LVWDQFHHQWUHOHFRUSVGXPHXEOHHWODYLWUHDYDQWGHO
DSSDUHLO PP
'LPHQVLRQVGHODQLFKH/[+[3 PP [[ [[
3RLGVQHW NJ
9ROXPH
9ROXPHXWLOH O
'LPHQVLRQVLQWpULHXUHV/[+[3 PP [[ [[
&DSDFLWpYDLVVHOOHSRXUXQPHQXDYHFDVVLHWWHVGLDPFPHWEROVjVRXSHVDODGLHUV 1EUHGH
VXSSOpPHQWDLUHVHWXQSODWGHVHUYLFHVHORQWDLOOHGHODYDLVVHOOH SHUVRQQHV
0RGHVGHFXLVVRQ
'pFRQJpODWLRQ)DLUHOHYHUXQHSkWH
3UpFKDXWDJHGHSHWLWVFRQWHQDQWVSRXUERLVVRQV
0DLQWLHQDXFKDXG&XLVVRQEDVVHWHPSpUDWXUHG
DOLPHQWV
3UpFKDXWHUODYDLVVHOOHSODWV
9HQWLODWHXUUpVLVWDQFHGHVROH
QLYHDX[GH
1LYHDX[GHUpJODJHDYHFWHPSpUDWXUHVGH&j&VROHHQYHUUH
SXLVVDQFH
&RPPDQGH
&RPPDQGHSDUERXWRQURWDWLI
7pPRLQOXPLQHX[GHIRQFWLRQQHPHQWVXUODIDoDGHHQYHUUH
7LURLUVDQVSRLJQpH
2XYHUWXUHDYHFV\VWqPHSXVKWRRSHQ
&DUDFWpULVWLTXHV
&KDUJHPD[LPDOH NJ
,QWpULHXUHQLQR[DYHFVROHHQYHUUH
9HQWLODWLRQLQWpJUpHXQHUpSDUWLWLRQKRPRJqQHGHODFKDOHXU
HWXQSUpFKDXWDJHSOXVUDSLGH
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ3URIRQGHXUGHO
DSSDUHLOODSURIRQGHXUG
HQFDVWUHPHQWGHO
DSSDUHLOGDQVODQLFKH
9DULRGHFXLVVRQ
9DULRGHFXLVVRQ
9XHG
HQVHPEOHGHV9DULRGHFXLVVRQ6pULHHW6pULH
7DEOHDXFRPELQDLVRQV9DULRGHFXLVVRQHW+RWWHV
9DULRGHFXLVVRQ6pULH
'pFRXSHVHWVFKpPDVG
HQFDVWUHPHQWSRXUFRPELQDLVRQV
G
DSSDUHLOV9DULR6pULH
9DULRGHFXLVVRQ6pULH
'pFRXSHVHWVFKpPDVG
HQFDVWUHPHQWSRXUFRPELQDLVRQV
G
DSSDUHLOV9DULR6pULH
$FFHVVRLUHV
'RQQpHVWHFKQLTXHV
9XHG
HQVHPEOH9DULRGHFXLVVRQ6pULH
9/ $/
$/
9DULRGHFXLVVRQ
9XHG
HQVHPEOH9DULRGHFXLVVRQ6pULH
9/
&RPELQDLVRQVUHFRPPDQGpHVSRXULQVWDOODWLRQ9DULRGHFXLVVRQHWKRWWHV
&RPELQDLVRQHVWKpWLTXHHWWHFKQLTXHUHFRPPDQGpH
²QRQUHFRPPDQGpH
&RQWU{OHGHODYHQWLODWLRQDYHFODWDEOHGHFXLVVRQ
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
VDQVFDGUH6pULH
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
DYHFFDGUH6pULH ² ² ²
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
VDQVFDGUH6pULH ² ² ²
7DEOHGHFXLVVRQ,QGXFWLRQ &, FP
6pULH
$, $, $, $, $/ $/ $/ $/ 9/ 9/ $) $) $& $& $&
ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU
FP FP FP FP FP FP FP FP FP FP FP FP FP FP FP
FP FP FP FP FP FP FP FP FP FP FP
² ² ² ²
² ² ² ²
² ² ² ²
² ²
² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ²
² ²
² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ² ² ²
² ²
² ² ² ² ² ² ² ²
7DEOHGHFXLVVRQ:RNLQGXFWLRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
6pULH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9, RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² =RQHGHFXLVVRQFPDYHF QRWDPPHQWDXQLYHDXGHVGpFRXSHV
IRQFWLRQ%RRVWHU &RQFHUQDQWOHVDXWUHVPDWpULDX[
² ,GpDOSRXUODSRrOH:RNjIRQG YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
DUURQGLDYHFDFFHVVRLUHDGDSWDWHXU GHWUDYDLO
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
SRrOHV XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
² 6pOHFWLRQHWUpJODJHIDFLOHVGH SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
WRXWHVOHVIRQFWLRQVJUkFHDX SDUOHGHVVRXV
GLVSOD\ELFRORUH /DODUJHXUGHODMRQFWLRQGpSHQGGH
೦1RXYHDX ² %RXWRQGHFRPPDQGHHQLQR[ ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
9, ೦ ࡱ PDVVLI GpFRXSHGXSODQGHWUDYDLO
6DQVFDGUH ࡱ+7 ² 6DQVFDGUHSRXUHQFDVWUHPHQWj 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
+RPH&RQQHFW IOHXUGHSODQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
/DUJHXUFP ODLVVHUXQHVSDFHPLQLPXPGHPP
=RQHVGHFXLVVRQ HQWUHOHVGpFRXSHV
$FFHVVRLUHVG
LQVWDOODWLRQ ]RQHGHFXLVVRQLQGXFWLRQFP 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
9$ ࡱ :DYHF%RRVWHU: FXLVLQHjIRQGPDJQpWLTXH
%DUUHWWHGHMRQFWLRQ ࡱ+7 H[WHQVLEOHDXWRPDWLTXHPHQWHQFP /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
SRXULQVWDOODWLRQjIOHXUGHSODQGH :DYHF%RRVWHU:HW WUDYDLOSDUOHGHVVXV
SOXVLHXUVDSSDUHLOV9DULR6pULH FP:DYHF%RRVWHU 3RLGVGHO
DSSDUHLOHQYLUNJ
:
$FFHVVRLUHVHQRSWLRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
*3 ࡱ %DQGHDXGHFRPPDQGH HQSDJHVjHWSDJH
3RrOH)U\LQJ6HQVRU ࡱ+7 %RXWRQVGHFRPPDQGHDYHFDQQHDX
HQLQR[ OXPLQHX[LQGLFDWLRQGHV]RQHVGH 9DOHXUVGHUDFFRUGHPHQW
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
GHFXLVVRQFP &RQWU{OHpOHFWURQLTXHDYHF N:
*3 ࡱ SRVLWLRQVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQV
3RrOH)U\LQJ6HQVRU ࡱ+7 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV SULVH
HQLQR[ JUkFHDXGLVSOD\ELFRORUHEODQF &RQVRPPDWLRQ6WDQGE\'LVSOD\pWHLQW
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH RUDQJH :
GHFXLVVRQFP &RQVRPPDWLRQ6WDQGE\,QWHUQHW:
*3 ࡱ &DUDFWpULVWLTXHV 3RXUGpVDFWLYHUODIRQFWLRQ:L)LVH
3RrOH)U\LQJ6HQVRU ࡱ+7 )RQFWLRQ)U\LQJ6HQVRU UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
HQLQR[ )RQFWLRQ%RRVWHU
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &KURQRPqWUH
GHFXLVVRQFP 0LQXWHULHLQGpSHQGDQWH
*3 ࡱ 0HQXG
RSWLRQVSHUVRQQDOLVpHV
3RrOH)U\LQJ6HQVRU ࡱ+7 5pJXODWHXUG
pQHUJLH
HQLQR[ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
GHFXLVVRQFP KRWWHFRPSDWLEOH
:3 ࡱ
3RrOH:RNHQLQR[ ࡱ+7 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PXOWLFRXFKHV PRGH'LJLWDO+RPH&RQQHFW
$YHFSRLJQpHHWIRQGDUURQGLFP /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
OLWUHVKDXWHXUFP &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
:= ࡱ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
6XSSRUWDGDSWDWHXU ࡱ+7 SD\VUHVSHFWLI/HVVHUYLFHV+RPH
SRXUSRrOH:RN &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
8WLOLVDEOHXQLTXHPHQWVXU9DULR WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
LQGXFWLRQ:RN ZZZKRPHFRQQHFWFRP
&RPELQDEOHDYHF 6pFXULWp
+RWWHVGHSODIRQG6pULHHW6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
+RWWHGHSODQGHWUDYDLO6pULH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
+RWWHvORWHWKRWWHPXUDOH6pULH 7pPRLQGHFKDOHXUUpVLGXHOOH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH jQLYHDX[
+RWWHWLURLU6pULH &RXSXUHGHVpFXULWp
*URXSHILOWUDQW6pULH
&RQVHLOVG
LQVWDOODWLRQ
%RQjVDYRLU 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ HVWVXSpULHXUHjPPVHUpIpUHU
GHFXLVVRQRXDXPLQLPXPGHODPrPH DXVFKpPD0RQWDJHGHVERXWRQVGH
ODUJHXUTXHOHSODQGHFXLVVRQ FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
0HUFLGHFRQVXOWHUOHVFRQVHLOV SDQQHDX
G
LQVWDOODWLRQGDQVOHFKDSLWUH /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
$SSDUHLOVG
DVSLUDWLRQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
HQFRQVLGpUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
9DULRLQGXFWLRQ:RN6pULH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
9, 9DULR6pULHXQHEDUUHWWHGH
MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
² =RQHGHFXLVVRQFPDYHF FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
IRQFWLRQ%RRVWHU GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² ,GpDOSRXUODSRrOH:RNjIRQG G
LQVWDOODWLRQ
DUURQGLDYHFDFFHVVRLUHDGDSWDWHXU /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
SRrOHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
² 6pOHFWLRQHWUpJODJHIDFLOHVGH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
WRXWHVOHVIRQFWLRQVJUkFHDX GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
GLVSOD\ELFRORUH HQFRQVLGpUDWLRQ
9, ࡱ ² %RXWRQGHFRPPDQGHHQLQR[ ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
&DGUHHQLQR[ ࡱ+7 PDVVLI XQHLQVWDOODWLRQjIOHXUGHSODQGH
+RPH&RQQHFW ² &DGUHHQLQR[PDVVLIG
XQH WUDYDLO
/DUJHXUFP pSDLVVHXUGHPPWUDYDLOOpDYHF /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
XQHJUDQGHSUpFLVLRQ SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
$FFHVVRLUHVG
LQVWDOODWLRQ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
9$ ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
%DUUHWWHGHMRQFWLRQ ࡱ+7 IOHXUGHSODQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV &RQFHUQDQWOHVDXWUHVPDWpULDX[
SOXVLHXUVDSSDUHLOV9DULR6pULH 9DULRGHOD6pULH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
9$ ࡱ GHWUDYDLO
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ ]RQHGHFXLVVRQLQGXFWLRQFP QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR :DYHF%RRVWHU: XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
6pULH H[WHQVLEOHDXWRPDWLTXHPHQWHQFP 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
:DYHF%RRVWHU: VDJHSDUOHGHVVRXV
$FFHVVRLUHVHQRSWLRQ HWFP:DYHF%RRVWHU /DODUJHXUGHODMRQFWLRQGpSHQGGH
*3 ࡱ : ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
3RrOH)U\LQJ6HQVRU ࡱ+7 GpFRXSHGXSODQGHWUDYDLO
HQLQR[ %DQGHDXGHFRPPDQGH 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %RXWRQVGHFRPPDQGHDYHFDQQHDX 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHFXLVVRQFP OXPLQHX[LQGLFDWLRQGHV]RQHVGH ODLVVHUXQHVSDFHPLQLPXPGHPP
*3 ࡱ FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV HQWUHOHVGpFRXSHV
3RrOH)U\LQJ6HQVRU ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
HQLQR[ SRVLWLRQVGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQF WUDYDLOSDUOHGHVVXV
*3 ࡱ RUDQJH 3RLGVGHO
DSSDUHLOHQYLUNJ
3RrOH)U\LQJ6HQVRU ࡱ+7
HQLQR[ &DUDFWpULVWLTXHV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )RQFWLRQ)U\LQJ6HQVRU HQSDJHVjHWSDJH
GHFXLVVRQFP )RQFWLRQ%RRVWHU
*3 ࡱ &KURQRPqWUH 9DOHXUVGHUDFFRUGHPHQW
3RrOH)U\LQJ6HQVRU ࡱ+7 0LQXWHULHLQGpSHQGDQWH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
HQLQR[ 0HQXG
RSWLRQVSHUVRQQDOLVpHV N:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 5pJXODWHXUG
pQHUJLH &kEOHGHUDFFRUGHPHQWPVDQV
GHFXLVVRQFP &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH SULVH
:3 ࡱ UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
3RrOH:RNHQLQR[ ࡱ+7 KRWWHFRPSDWLEOH
PXOWLFRXFKHV
$YHFSRLJQpHHWIRQGDUURQGLFP 0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV
OLWUHVKDXWHXUFP PRGH'LJLWDO+RPH&RQQHFW
:= ࡱ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
6XSSRUWDGDSWDWHXU ࡱ+7 &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
SRXUSRrOH:RN GHVVHUYLFHV+RPH&RQQHFWGDQVOH
8WLOLVDEOHXQLTXHPHQWVXU9DULR SD\VUHVSHFWLI/HVVHUYLFHV+RPH
LQGXFWLRQ:RN &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
&RPELQDEOHDYHF ZZZKRPHFRQQHFWFRP
+RWWHVGHSODIRQG6pULHHW6pULH
+RWWHGHSODQGHWUDYDLO6pULH 6pFXULWp
+RWWHvORWHWKRWWHPXUDOH6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
+RWWHWLURLU6pULH 7pPRLQGHFKDOHXUUpVLGXHOOHj
*URXSHILOWUDQW6pULH QLYHDX[
&RXSXUHGHVpFXULWp
%RQjVDYRLU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &RQVHLOVG
LQVWDOODWLRQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
ODUJHXUTXHOHSODQGHFXLVVRQ DYHFFDGUHDSSDUHQWRXjIOHXUGH
0HUFLGHFRQVXOWHUOHVFRQVHLOV SODQO
HPSODFHPHQWGHODGpFRXSHGX
G
LQVWDOODWLRQGDQVOHFKDSLWUH SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
$SSDUHLOVG
DVSLUDWLRQ ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
HVWVXSpULHXUHjPPVHUpIpUHU
DXVFKpPD0RQWDJHGHVERXWRQVGH
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
SDQQHDX
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
5 5
$
¡ ¡
! ¡ ! ¡
5
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
! !
5
5
%
%
$
7DEOHGHFXLVVRQ)OH[,QGXFWLRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
6pULH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9, RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
GHV]RQHVGHFXLVVRQVUHFWDQJX &RQFHUQDQWOHVDXWUHVPDWpULDX[
ODLUHV YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
² 3RVLWLRQQHPHQWOLEUHGHV GHWUDYDLO
FDVVHUROHVVXUOHV]RQHVGH /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
FXLVVRQFRPELQpHV QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
SRrOHV SDUOHGHVVRXV
೦1RXYHDX ² 6pOHFWLRQHWUpJODJHIDFLOHVGH /DODUJHXUGHODMRQFWLRQGpSHQGGH
9, ೦ ࡱ WRXWHVOHVIRQFWLRQVJUkFHDX ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
6DQVFDGUH ࡱ+7 GLVSOD\ELFRORUH GpFRXSHGXSODQGHWUDYDLO
+RPH&RQQHFW ² %RXWRQGHFRPPDQGHHQLQR[ 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
/DUJHXUFP PDVVLI 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
² 6DQVFDGUHSRXUHQFDVWUHPHQWj ODLVVHUXQHVSDFHPLQLPXPGHPP
$FFHVVRLUHVG
LQVWDOODWLRQ IOHXUGHSODQ HQWUHOHVGpFRXSHV
9$ ࡱ 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
SRXULQVWDOODWLRQjIOHXUGHSODQGH ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
SOXVLHXUVDSSDUHLOV9DULR6pULH [FP:DYHF%RRVWHU WUDYDLOSDUOHGHVVXV
:FRPELQDEOHVHQ]RQH[FP 3RLGVGHO
DSSDUHLOHQYLUNJ
$FFHVVRLUHVHQRSWLRQ :DYHF%RRVWHU:
&$ ࡱ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
7HSSDQ<DNLHQ ࡱ+7 %DQGHDXGHFRPPDQGH HQSDJHVjHWSDJH
PDWpULDXPXOWLFRXFKHV %RXWRQVGHFRPPDQGHDYHFDQQHDX
&$ ࡱ OXPLQHX[LQGLFDWLRQGHV]RQHVGH 9DOHXUVGHUDFFRUGHPHQW
3ODTXHjJULOOHUHQ ࡱ+7 FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
IRQWHG
DOXPLQLXP &RQWU{OHpOHFWURQLTXHDYHF N:
*3 ࡱ SRVLWLRQVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQV
3RrOH)U\LQJ6HQVRU ࡱ+7 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV SULVH
HQLQR[ JUkFHDXGLVSOD\ELFRORUHEODQF &RQVRPPDWLRQVWDQGE\GLVSOD\pWHLQW
5HYrWHPHQWDQWLDGKpUHQW RUDQJH :
SRXU]RQHGHFXLVVRQFP &RQVRPPDWLRQVWDQGE\LQWHUQHW:
*3 ࡱ &DUDFWpULVWLTXHV 3RXUGpVDFWLYHUOHPRGH:LILVH
3RrOH)U\LQJ6HQVRU ࡱ+7 )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
HQLQR[ UHFWDQJXODLUHV
5HYrWHPHQWDQWLDGKpUHQW )RQFWLRQ)U\LQJ6HQVRU
SRXU]RQHGHFXLVVRQFP )RQFWLRQ%RRVWHU
*3 ࡱ &KURQRPqWUH
3RrOH)U\LQJ6HQVRU ࡱ+7 0LQXWHULHLQGpSHQGDQWH
HQLQR[ 0HQXG
RSWLRQVSHUVRQQDOLVpHV
5HYrWHPHQWDQWLDGKpUHQW 5pJXODWHXUG
pQHUJLH
SRXU]RQHGHFXLVVRQFP &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
&RPELQDEOHDYHF KRWWHFRPSDWLEOH
+RWWHVGHSODIRQG6pULHHW6pULH
+RWWHGHSODQGHWUDYDLO6pULH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
+RWWHvORWHWKRWWHPXUDOH6pULH PRGH'LJLWDO+RPH&RQQHFW
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
+RWWHWLURLU6pULH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
*URXSHILOWUDQW6pULH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
%RQjVDYRLU &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
GHFXLVVRQRXDXPLQLPXPGHODPrPH ZZZKRPHFRQQHFWFRP
ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOV 6pFXULWp
G
LQVWDOODWLRQGDQVOHFKDSLWUH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
$SSDUHLOVG
DVSLUDWLRQ 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOH
jQLYHDX[
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
/HVERXWRQVGHFRPPDQGHSHXYHQW
rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
UDSSRUWDX[]RQHVGHFXLVVRQ
6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
HVWVXSpULHXUHjPPVHUpIpUHU
DXVFKpPD0RQWDJHGHVERXWRQVGH
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
SDQQHDX
/DFKDUJHDGPLVVLEOHHWODVWDELOLWp
GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
HQFRQVLGpUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
9DULRGHFXLVVRQ)OH[,QGXFWLRQ 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
6pULH HVWVXSpULHXUHjPPVHUpIpUHU
9, DXVFKpPD0RQWDJHGHVERXWRQVGH
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ SDQQHDX
GHV]RQHVGHFXLVVRQV /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
UHFWDQJXODLUHV 9DULR6pULHXQHEDUUHWWHGH
² 3RVLWLRQQHPHQWOLEUHGHV MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
FDVVHUROHVVXUOHV]RQHVGH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
FXLVVRQFRPELQpHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ G
LQVWDOODWLRQ
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
SRrOHV GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
9, ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&DGUHHQLQR[ ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
+RPH&RQQHFW GLVSOD\ELFRORUH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
/DUJHXUFP ² %RXWRQGHFRPPDQGHHQLQR[ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
PDVVLI HQFRQVLGpUDWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
9$ ࡱ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 XQHJUDQGHSUpFLVLRQ WUDYDLO
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
SOXVLHXUVDSSDUHLOV9DULR6pULH WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9$ ࡱ IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR &RQFHUQDQWOHVDXWUHVPDWpULDX[
6pULH =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
]RQHVGHFXLVVRQ)OH[,QGXFWLRQ GHWUDYDLO
$FFHVVRLUHVHQRSWLRQ [FP:DYHF%RRVWHU /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
*3 ࡱ :FRPELQDEOHVHQ]RQH[FP QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU: XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
HQLQR[ SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %DQGHDXGHFRPPDQGH SDUOHGHVVRXV
GHFXLVVRQFP %RXWRQVGHFRPPDQGHDYHFDQQHDX /DODUJHXUGHODMRQFWLRQGpSHQGGH
*3 ࡱ OXPLQHX[LQGLFDWLRQGHV]RQHVGH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
3RrOH)U\LQJ6HQVRU ࡱ+7 FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV GpFRXSHGXSODQGHWUDYDLO
HQLQR[ &RQWU{OHpOHFWURQLTXHDYHF 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH SRVLWLRQVGHFXLVVRQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHFXLVVRQFP 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV ODLVVHUXQHVSDFHPLQLPXPGHPP
*3 ࡱ JUkFHDXGLVSOD\ELFRORUHEODQF HQWUHOHVGpFRXSHV
3RrOH)U\LQJ6HQVRU ࡱ+7 RUDQJH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
HQLQR[ FXLVLQHjIRQGPDJQpWLTXH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &DUDFWpULVWLTXHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
GHFXLVVRQFP )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ WUDYDLOSDUOHGHVVXV
UHFWDQJXODLUHV 3RLGVGHO
DSSDUHLOHQYLUNJ
&RPELQDEOHDYHF )RQFWLRQ)U\LQJ6HQVRU
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ%RRVWHU &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
+RWWHGHSODQGHWUDYDLO6pULH &KURQRPqWUH HQSDJHVjHWSDJH
+RWWHvORWHWKRWWHPXUDOH6pULH 0LQXWHULHLQGpSHQGDQWH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 0HQXG
RSWLRQVSHUVRQQDOLVpHV 9DOHXUVGHUDFFRUGHPHQW
+RWWHWLURLU6pULH 5pJXODWHXUG
pQHUJLH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
*URXSHILOWUDQW6pULH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH N:
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD &kEOHGHUDFFRUGHPHQWPVDQV
%RQjVDYRLU KRWWHFRPSDWLEOH SULVH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH 0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV
ODUJHXUTXHOHSODQGHFXLVVRQ PRGH'LJLWDO+RPH&RQQHFW
0HUFLGHFRQVXOWHUOHVFRQVHLOV /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
G
LQVWDOODWLRQGDQVOHFKDSLWUH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
$SSDUHLOVG
DVSLUDWLRQ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
DYHFFDGUHDSSDUHQWRXjIOHXUGH
SODQO
HPSODFHPHQWGHODGpFRXSHGX
SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
/HVERXWRQVGHFRPPDQGHSHXYHQW
rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
UDSSRUWDX[]RQHVGHFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
!
!
5
5
%
%
$
9DULRJD]:RN6pULH /HSRLGVGHO
DSSDUHLOHWOHSRLGV
9* VXSSOpPHQWDLUHGHVUpFLSLHQWVFKDUJpV
VRQWjSUHQGUHHQFRQVLGpUDWLRQ
² %UOHXUPXOWLFRXURQQHVN: ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXUXQH
² 5pJXODWLRQWRXWpOHFWURQLTXHGHOD LQVWDOODWLRQjIOHXUGHSODQGHWUDYDLO
SXLVVDQFHHQSRVLWLRQVGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
FXLVVRQ SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
² 7DLOOHGHIODPPHSUpFLVHHW RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
UHSURGXFWLEOH UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² $OOXPDJHDXWRPDWLTXHHWUDSLGH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
FRQWU{OHpOHFWURQLTXHGHODIODPPH &RQFHUQDQWOHVDXWUHVPDWpULDX[
DYHFUpDOOXPDJHDXWRPDWLTXHHQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
FDVG
H[WLQFWLRQDFFLGHQWHOOHGHOD GHWUDYDLO
9* ) ࡱ IODPPH /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
,QR[ ࡱ+7 ² )RQFWLRQPLMRWDJHSRXUGHV QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
/DUJHXUFP FXLVVRQVjWHPSpUDWXUHEDVVHHW XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
*D]EXWDQHSURSDQHPEDU UpJXOLqUH 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
%UOHXU:RNN: ² %RXWRQGHFRPPDQGHHQLQR[ SDUOHGHVVRXV
9* ࡱ PDVVLI /DODUJHXUGHODMRQFWLRQGpSHQGGHOD
,QR[ ࡱ+7 ² &DGUHHQLQR[PDVVLIG
XQH WROpUDQFHHQWUHOHVDSSDUHLOVHWOD
/DUJHXUFP pSDLVVHXUGHPPWUDYDLOOpDYHF GpFRXSHGXSODQGHWUDYDLO
*D]QDWXUHOPEDU XQHJUDQGHSUpFLVLRQ 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
%UOHXU:RNN: ² 3HXWrWUHLQVWDOOpVXUOHSODQGH 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
WUDYDLODYHFFDGUHDSSDUHQWRXj ODLVVHUXQHVSDFHPLQLPXPGHPP
/HSUL[FRPSUHQG IOHXUGHSODQ HQWUHOHVGpFRXSHV
DQQHDXSRXU:2. ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV 'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
9DULRGHOD6pULH FRPPDQGpVFRPPHSLqFHVGH
$FFHVVRLUHVG
LQVWDOODWLRQ UHFKDQJH
9$ ࡱ =RQHVGHFXLVVRQ 3UpYRLUXQHFRQQH[LRQpOHFWULTXH
%DUUHWWHGHMRQFWLRQ ࡱ+7 9*) O
DSSDUHLOQ
HVWSDVIRQFWLRQQHOVDQV
SRXULQVWDOODWLRQjIOHXUGHSODQGH %UOHXUPXOWLFRXURQQHVGHIODPPHV UDFFRUGHPHQWpOHFWULTXH
SOXVLHXUVDSSDUHLOV9DULR6pULH ::SRXUGHV 3ULVHG
DLUSDUOHKDXW
9$ ࡱ FDVVHUROHVMXVTX
jPD[LFP 3DVGHSODQFKHULQWHUPpGLDLUH
%DUUHWWHGHMRQFWLRQ ࡱ+7 QpFHVVDLUH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 9* /DSDURLDUULqUHHWOHVSURILOpVGH
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR %UOHXUPXOWLFRXURQQHVGHIODPPHV ILQLWLRQPXUDOHGRLYHQWUpVLVWHUjOD
6pULH ::SRXUGHV FKDOHXUHWrWUHHQPDWpULDXLQLQIODP
9$ ࡱ FDVVHUROHVMXVTX
jPD[LFP PDEOH
&RXYHUFOHHQLQR[ ࡱ+7 'LVWDQFHPLQLPDOHGHPPDYHFOH
DYHFEDUUHWWHGHPRQWDJH %DQGHDXGHFRPPDQGH PXURXOHVPHXEOHVDGMDFHQWVRX
%RXWRQVGHFRPPDQGHDYHFDQQHDX SUpYRLUXQHLVRODWLRQWKHUPLTXH
$FFHVVRLUHVHQRSWLRQ OXPLQHX[LQGLFDWLRQGHV]RQHVGH VXSSOpPHQWDLUH
:3 ࡱ FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV (QFDVG
LQVWDOODWLRQjF{WpGH
3RrOH:RNHQLQR[ ࡱ+7 $OOXPDJHXQHPDLQ O
DpUDWHXUGHSODQ9/LOIDXW
PXOWLFRXFKH &RQWU{OHWRXWpOHFWURQLTXHSRXUXQH LQVWDOOHUOHGpIOHFWHXU$$SRXU
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH UpJXODWLRQSUpFLVHGHVQLYHDX[GH JDUDQWLUOHVSHUIRUPDQFHVPD[LPDOHV
FPOLWUHVKDXWHXUFP SXLVVDQFHHWGHODIRQFWLRQPLMRWDJH GHODWDEOHGHFXLVVRQ
$OOXPDJHUDSLGHDXWRPDWLTXH /RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
&RPELQDEOHDYHF FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
+RWWHVGHSODIRQG6pULHHW6pULH &DUDFWpULVWLTXHV HVWVXSpULHXUHjN:LOIDXW
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQPLMRWDJH UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
+RWWHvORWHWKRWWHPXUDOH6pULH *ULOOHHQIRQWHKDXWHVWDELOLWp FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH %UOHXUVHQODLWRQ VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
+RWWHWLURLU6pULH HQpYDFXDWLRQH[WpULHXUHRXHQ
*URXSHILOWUDQW6pULH 6pFXULWp UHF\FODJH/DGLVWDQFHPLQLPDOHHQWUH
&RQWU{OHpOHFWURQLTXHGHODIODPPHHW ODWDEOHGHFXLVVRQJD]GHSOXVGH
%RQjVDYRLU UpDOOXPDJHDXWRPDWLTXHHQFDV N:HWODKRWWHGRLWrWUHGHFP
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ G
H[WLQFWLRQDFFLGHQWHOOHGHODIODPPH /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
GHFXLVVRQRXDXPLQLPXPGHODPrPH ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH WUDYDLOSDUOHGHVVXV
ODUJHXUTXHOHSODQGHFXLVVRQ &RXSXUHGHVpFXULWp 3RLGVGHO
DSSDUHLOHQYLUNJ
0HUFLGHFRQVXOWHUOHVFRQVHLOV
G
LQVWDOODWLRQGDQVOHFKDSLWUH &RQVHLOVG
LQVWDOODWLRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
$SSDUHLOVG
DVSLUDWLRQ 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ HQSDJHVj
DYHFFDGUHDSSDUHQWRXjIOHXUGH
SODQUHVSHFWHUOHVVSpFLILFLWpVGHV 9DOHXUVGHUDFFRUGHPHQW
GpFRXSHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH N:N:
HVWVXSpULHXUHjPPVHUpIpUHUDX 3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
VFKpPD0RQWDJHGHVERXWRQVGH WRWDOH::
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX &kEOHPDYHFSULVH
SDQQHDX
/RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
9DULR6pULHXQHEDUUHWWHGH
MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
FKDTXHDSSDUHLO3UpYRLUODEDUUHWWHGH
MRQFWLRQDGpTXDWHVHORQOHW\SH
G
LQVWDOODWLRQ
/DFKDUJHDGPLVVLEOHHWODVWDELOLWp
GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHSODQVGHWUDYDLOPLQFHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
ĂĂ$ ĂĂ$
Ă
ĂĂ$ ĂĂ$
ĂĂ$
5Ă 5Ă
%
¡Ă ¡Ă
!Ă ¡Ă ¡Ă
5Ă
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH $VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH
%
0HVXUHVHQPP
0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
9XHGXGHVVXV
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH
0HVXUHVHQPP
&RXSHORQJLWXGLQDOH
0HVXUHVHQPP
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
&RXSHWUDQVYHUVDOH
$
%UHPSOLUGHVLOLFRQH
(QFDVG
LQVWDOODWLRQG
XQFRXYHUFOHIDLUHDWWHQWLRQjODGpFRXSHSOXV
SURIRQGHHWjODODUJHXUGHODUDLQXUHjO
DYDQWHWjO
DUULqUH
0HVXUHVHQPP
9DULRJD]6pULH 3UpYRLUODEDUUHWWHGHMRQFWLRQ
9* DGpTXDWHVHORQOHW\SHG
LQVWDOODWLRQ
/DFKDUJHDGPLVVLEOHHWODVWDELOLWp
² %UOHXUPXOWLFRXURQQHVMXVTX
j GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
N: DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
² 5pJXODWLRQWRXWpOHFWURQLTXHGHOD GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
SXLVVDQFHHQSRVLWLRQVGH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
FXLVVRQ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
² 7DLOOHGHIODPPHSUpFLVHHW HQFRQVLGpUDWLRQ
UHSURGXFWLEOH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
² $OOXPDJHDXWRPDWLTXHHWUDSLGH XQHLQVWDOODWLRQjIOHXUGHSODQGH
FRQWU{OHpOHFWURQLTXHGHODIODPPH WUDYDLO
DYHFUpDOOXPDJHDXWRPDWLTXHHQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
9* ) ࡱ FDVG
H[WLQFWLRQDFFLGHQWHOOHGHOD SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
,QR[ ࡱ+7 IODPPH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
/DUJHXUFP ² )RQFWLRQPLMRWDJHSRXUGHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
*D]EXWDQHSURSDQHPEDU FXLVVRQVjWHPSpUDWXUHEDVVHHW QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9* ࡱ UpJXOLqUH &RQFHUQDQWOHVDXWUHVPDWpULDX[
,QR[ ࡱ+7 ² %RXWRQGHFRPPDQGHHQLQR[ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
/DUJHXUFP PDVVLI GHWUDYDLO
*D]QDWXUHOPEDU ² &DGUHHQLQR[PDVVLIG
XQH /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
pSDLVVHXUGHPPWUDYDLOOpDYHF QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ XQHJUDQGHSUpFLVLRQ XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
9$ ࡱ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
%DUUHWWHGHMRQFWLRQ ࡱ+7 WUDYDLODYHFFDGUHDSSDUHQWRXj SDUOHGHVVRXV
SRXULQVWDOODWLRQjIOHXUGHSODQGH IOHXUGHSODQ /DODUJHXUGHODMRQFWLRQGpSHQGGHOD
SOXVLHXUVDSSDUHLOV9DULR6pULH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV WROpUDQFHHQWUHOHVDSSDUHLOVHWOD
9$ ࡱ 9DULRGHOD6pULH GpFRXSHGXSODQGHWUDYDLO
%DUUHWWHGHMRQFWLRQ ࡱ+7 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ =RQHVGHFXLVVRQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR 9*) ODLVVHUXQHVSDFHPLQLPXPGHPP
6pULH %UOHXUSXLVVDQWGRXEOHFRXURQQH HQWUHOHVGpFRXSHV
9$ ࡱ GHIODPPHV::SRXU 'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
&RXYHUFOHHQLQR[ ࡱ+7 GHVFDVVHUROHVMXVTX
jPD[LFP FRPPDQGpVFRPPHSLqFHVGH
DYHFEDUUHWWHGHPRQWDJH %UOHXUGRXEOHFRXURQQHGHIODPPHV UHFKDQJH
::SRXUGHV 3UpYRLUXQHFRQQH[LRQpOHFWULTXH
&RPELQDEOHDYHF FDVVHUROHVMXVTX
jPD[LFP O
DSSDUHLOQ
HVWSDVIRQFWLRQQHOVDQV
+RWWHVGHSODIRQG6pULHHW6pULH UDFFRUGHPHQWpOHFWULTXH
+RWWHGHSODQGHWUDYDLO6pULH 9* 3ULVHG
DLUSDUOHKDXW
+RWWHvORWHWKRWWHPXUDOH6pULH %UOHXUSXLVVDQWGRXEOHFRXURQQHGH 3DVGHSODQFKHULQWHUPpGLDLUH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH IODPPHV::SRXUGHV QpFHVVDLUH
+RWWHWLURLU6pULH FDVVHUROHVMXVTX
jPD[LFP /DSDURLDUULqUHHWOHVSURILOpVGHILQLWLRQ
*URXSHILOWUDQW6pULH %UOHXUGRXEOHFRXURQQHGHIODPPHV PXUDOHGRLYHQWUpVLVWHUjODFKDOHXUHW
::SRXUGHV rWUHHQPDWpULDXLQLQIODPPDEOH
%RQjVDYRLU FDVVHUROHVMXVTX
jPD[LFP 'LVWDQFHPLQLPDOHGHPPDYHFOH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ PXURXOHVPHXEOHVDGMDFHQWVRX
GHFXLVVRQRXDXPLQLPXPGHODPrPH %DQGHDXGHFRPPDQGH SUpYRLUXQHLVRODWLRQWKHUPLTXH
ODUJHXUTXHOHSODQGHFXLVVRQ %RXWRQVGHFRPPDQGHDYHFDQQHDX VXSSOpPHQWDLUH
0HUFLGHFRQVXOWHUOHVFRQVHLOV OXPLQHX[LQGLFDWLRQGHV]RQHVGH (QFDVG
LQVWDOODWLRQjF{WpGH
G
LQVWDOODWLRQGDQVOHFKDSLWUH FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV O
DpUDWHXUGHSODQ9/LOIDXW
$SSDUHLOVG
DVSLUDWLRQ $OOXPDJHXQHPDLQ LQVWDOOHUOHGpIOHFWHXU$$SRXU
&RQWU{OHWRXWpOHFWURQLTXHSRXUXQH JDUDQWLUOHVSHUIRUPDQFHVPD[LPDOHV
UpJXODWLRQSUpFLVHGHVQLYHDX[GH GHODWDEOHGHFXLVVRQ
SXLVVDQFHHWGHODIRQFWLRQPLMRWDJH /RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
$OOXPDJHUDSLGHDXWRPDWLTXH FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
&DUDFWpULVWLTXHV UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
)RQFWLRQPLMRWDJH FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
*ULOOHHQIRQWHKDXWHVWDELOLWp VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
%UOHXUVHQODLWRQ HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
6pFXULWp /DGLVWDQFHPLQLPDOHHQWUHODWDEOHGH
&RQWU{OHpOHFWURQLTXHGHODIODPPHHW FXLVVRQJD]GHSOXVGHN:HWOD
UpDOOXPDJHDXWRPDWLTXHHQFDV KRWWHGRLWrWUHGHFP
G
H[WLQFWLRQDFFLGHQWHOOHGHODIODPPH /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH WUDYDLOSDUOHGHVVXV
&RXSXUHGHVpFXULWp 3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVG
LQVWDOODWLRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ HQSDJHVj
DYHFFDGUHDSSDUHQWRXjIOHXUGH
SODQUHVSHFWHUOHVVSpFLILFLWpVGHV 9DOHXUVGHUDFFRUGHPHQW
GpFRXSHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH N:N:
HVWVXSpULHXUHjPPVHUpIpUHUDX 3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
VFKpPD0RQWDJHGHVERXWRQVGH WRWDOH::
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX &kEOHPDYHFSULVH
SDQQHDX
/RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
9DULR6pULHXQHEDUUHWWHGH
MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
FKDTXHDSSDUHLO
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
ĂĂ$ ĂĂ$
ĂĂĂĂĂĂ
ĂĂ$ ĂĂ$
ĂĂ$
5Ă 5Ă
%
¡Ă ¡Ă
!Ă ¡Ă !Ă ¡Ă
5Ă
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH $VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH
%
0HVXUHVHQPP
0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
9XHGXGHVVXV
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH
0HVXUHVHQPP
&RXSHORQJLWXGLQDOH
0HVXUHVHQPP
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
&RXSHWUDQVYHUVDOH
$
%UHPSOLUGHVLOLFRQH
(QFDVG
LQVWDOODWLRQG
XQFRXYHUFOHIDLUHDWWHQWLRQjODGpFRXSHSOXV
SURIRQGHHWjODODUJHXUGHODUDLQXUHjO
DYDQWHWjO
DUULqUH
0HVXUHVHQPP
9DULR7HSSDQ<DNL6pULH /DODUJHXUGHODMRQFWLRQGpSHQGGH
93 ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
GpFRXSHGXSODQGHWUDYDLO
² &XLVVRQGLUHFWHVXUODVXUIDFHHQ 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
DFLHUFKURPpVDQVFDVVHUROHVQL 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
SRrOHV ODLVVHUXQHVSDFHPLQLPXPGHPP
² &RQWU{OHH[DFWGHODWHPSpUDWXUH HQWUHOHVGpFRXSHV
MXVTX
j& 5HSHFWHUXQHVSDFHODWpUDOPLQLPDO
² 5pSDUWLWLRQRSWLPDOHGHODFKDOHXU GHPPDYHFOHVSDURLVODWpUDOHV
² %RXWRQGHFRPPDQGHHQLQR[ GHVPHXEOHVRXSUpYRLUXQHLVRODWLRQ
PDVVLI WKHUPLTXHVXSSOpPHQWDLUH
² &DGUHHQLQR[PDVVLIG
XQH /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
pSDLVVHXUGHPPWUDYDLOOpDYHF WUDYDLOSDUOHGHVVXV
93 ࡱ XQHJUDQGHSUpFLVLRQ 3RLGVGHO
DSSDUHLOHQYLUNJ
,QR[ ࡱ+7 ² 3HXWrWUHLQVWDOOpVXUOHSODQGH
/DUJHXUFP WUDYDLODYHFFDGUHDSSDUHQWRXj &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
IOHXUGHSODQ HQSDJHVj
/HSUL[FRPSUHQG ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV
VSDWXOHV 9DULRGHOD6pULH 9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
$FFHVVRLUHVG
LQVWDOODWLRQ =RQHVGHFXLVVRQ N:
9$ ࡱ 6XUIDFHGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQV
%DUUHWWHGHMRQFWLRQ ࡱ+7 /FP[3FP SULVH
SRXULQVWDOODWLRQjIOHXUGHSODQGH
SOXVLHXUVDSSDUHLOV9DULR6pULH %DQGHDXGHFRPPDQGH
9$ ࡱ %RXWRQVGHFRPPDQGHDYHFDQQHDX
%DUUHWWHGHMRQFWLRQ ࡱ+7 OXPLQHX[LQGLFDWLRQGHV]RQHVGH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ FXLVVRQHWGHWHPSpUDWXUH
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR &RQWU{OHpOHFWURQLTXHGHOD
6pULH WHPSpUDWXUHGH&j&
9$ ࡱ
&RXYHUFOHHQLQR[ ࡱ+7 &DUDFWpULVWLTXHV
DYHFEDUUHWWHGHPRQWDJH ]RQHVGHFXLVVRQGH:
FKDFXQHXWLOLVDEOHVFRPPHXQHVHXOH
&RPELQDEOHDYHF JUDQGHVXUIDFHGHFXLVVRQRXELHQ
+RWWHVGHSODIRQG6pULHHW6pULH VpSDUpPHQW
+RWWHGHSODQGHWUDYDLO6pULH 3RVLWLRQPDLQWLHQDXFKDXG
+RWWHvORWHWKRWWHPXUDOH6pULH 3RVLWLRQQHWWR\DJH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 6XUIDFHIDFLOHG
HQWUHWLHQDSUqV
+RWWHWLURLU6pULH XWLOLVDWLRQ
*URXSHILOWUDQW6pULH
6pFXULWp
%RQjVDYRLU &RXSXUHGHVpFXULWp
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 7pPRLQOXPLQHX[GHSUpFKDXIIDJHHW
GHFXLVVRQRXDXPLQLPXPGHODPrPH GHFKDOHXUUpVLGXHOOH
ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOV &RQVHLOVG
LQVWDOODWLRQ
G
LQVWDOODWLRQGDQVOHFKDSLWUH 6HORQOHW\SHG
LQVWDOODWLRQVXUOH
$SSDUHLOVG
DVSLUDWLRQ SODQDYHFFDGUHDSSDUHQWRXjIOHXU
GHSODQUHVSHFWHUOHVVSpFLILFLWpV
GHVGpFRXSHV
/RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
9DULR6pULHXQHEDUUHWWHGH
MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
GHMRQFWLRQDGpTXDWHVHORQOHW\SH
G
LQVWDOODWLRQ
/DFKDUJHDGPLVVLEOHHWODVWDELOLWp
GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
HQFRQVLGpUDWLRQ
,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
XQHLQVWDOODWLRQjIOHXUGHSODQGH
WUDYDLO
/
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
QRWDPPHQWDXQLYHDXGHVGpFRXSHV
&RQFHUQDQWOHVDXWUHVPDWpULDX[
YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
GHWUDYDLO
/DUDLQXUHGRLWrWUHFRQWLQXHHWGH
QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
SDUOHGHVVRXV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH $VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGH5HSRUWH]YRXVDX[QRWLFHVGHPRQWDJHVpSDUpHV ODSOXVSURIRQGH5HSRUWH]YRXVDX[QRWLFHVGHPRQWDJHVpSDUpHV
%PPGDQVOD]RQHGXVHUUHFkEOHjJDXFKHDXGRV %PPGDQVOD]RQHGXVHUUHFkEOHjJDXFKHDXGRV
&
0HVXUHVHQPP
0HVXUHVHQPP
9XHGXGHVVXV
$VLLQVWDOODWLRQDYHFXQFRXYHUFOHSUHQGUHHQFRQVLGpUDWLRQODGpFRXSH
ODSOXVSURIRQGHVHUpIpUHUDX[VFKpPDVGHPRQWDJH
0HVXUHVHQPP
&RXSHORQJLWXGLQDOH
0HVXUHVHQPP
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
&RXSHWUDQVYHUVDOH
$
%UHPSOLUGHVLOLFRQH
(QFDVG
LQVWDOODWLRQG
XQFRXYHUFOHIDLUHDWWHQWLRQjODGpFRXSHSOXV
SURIRQGHHWjODODUJHXUGHODUDLQXUHjO
DYDQWHWjO
DUULqUH
0HVXUHVHQPP
9DULR*ULO(OHFWULTXH6pULH 5HVSHFWHUXQHVSDFHODWpUDOPLQLPDO
95 GHPPDYHFOHVSDURLVODWpUDOHV
GHVPHXEOHVRXOHPXU
² ]RQHVSRXYDQWrWUHUpJOpHV (QFDVG
LQVWDOODWLRQDYHFOHFRXYHUFOH
HQVHPEOHRXVpSDUpPHQW 9$LOIDXWWHQLUFRPSWHGHO
HVSDFH
² SODTXHHQIRQWHSRXUGHPL]RQH VXSSOpPHQWDLUHSRXUODSURIRQGHXUGH
SHUPHWWDQWGHJULOOHUHWU{WLUHQ ODGpFRXSH
PrPHWHPSVVXU]RQHVGLVWLQFWHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
² *ULOOHHQIRQWHSLHUUHVGHODYH WUDYDLOSDUOHGHVVXV
² %RXWRQGHFRPPDQGHHQLQR[PDVVLI 3RLGVGHO
DSSDUHLOHQYLUNJ
² &DGUHHQLQR[PDVVLIG
XQH
pSDLVVHXUGHPPWUDYDLOOpDYHF &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
XQHJUDQGHSUpFLVLRQ HQSDJHVj
² 3HXWrWUHLQVWDOOpVXUOHSODQGH
95 ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj 9DOHXUVGHUDFFRUGHPHQW
,QR[ ࡱ+7 IOHXUGHSODQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
/DUJHXUFP ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV N:
9DULRGHOD6pULH 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
/HSUL[FRPSUHQG
EURVVHGHQHWWR\DJH %DQGHDXGHFRPPDQGH
JULOOHVHQIRQWH %RXWRQVGHFRPPDQGHDYHFDQQHDX
EDFUpFXSpUDWHXUGHJUDLVVH OXPLQHX[LQGLFDWLRQGHV]RQHVGH
SLHUUHGHODYH FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV
SODTXHIRQWHGHPLVXUIDFH &RQWU{OHpOHFWURQLTXHDYHF
SRVLWLRQVGHFXLVVRQ
$FFHVVRLUHVG
LQVWDOODWLRQ
9$ ࡱ &DUDFWpULVWLTXHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 &DLVVRQ]RQHGHFXLVVRQUpFHSWDFOH
SRXULQVWDOODWLRQjIOHXUGHSODQGH SRXUSLHUUHVGHODYHHWUHFXHLOOH
SOXVLHXUVDSSDUHLOV9DULR6pULH JUDLVVHHQLQR[
9$ ࡱ ]RQHVGHFXLVVRQGH:
%DUUHWWHGHMRQFWLRQ ࡱ+7 FKDFXQHXWLOLVDEOHVFRPPHXQHVHXOH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ JUDQGHVXUIDFHGHFXLVVRQRXELHQ
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR VpSDUpPHQW
6pULH JULOOHVHQIRQWH
9$ ࡱ
&RXYHUFOHHQLQR[ ࡱ+7 6pFXULWp
DYHFEDUUHWWHGHPRQWDJH &RXSXUHGHVpFXULWp
7pPRLQOXPLQHX[GHSUpFKDXIIDJHHW
$FFHVVRLUHVHQRSWLRQ GHFKDOHXUUpVLGXHOOH
/9 ࡱ
3LHUUHVGHODYHGH ࡱ+7 &RQVHLOVG
LQVWDOODWLRQ
UHPSODFHPHQW 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
DYHFFDGUHDSSDUHQWRXjIOHXUGH
&RPELQDEOHDYHF SODQUHVSHFWHUOHVVSpFLILFLWpVGHV
+RWWHVGHSODIRQG6pULH GpFRXSHV
+RWWHGHSODIRQG$& /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
+RWWHGHSODQGHWUDYDLO6pULH 9DULR6pULHXQHEDUUHWWHGH
+RWWHvORWHWKRWWHPXUDOH6pULH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
+RWWHWLURLU6pULH GHMRQFWLRQDGpTXDWHVHORQOHW\SH
*URXSHILOWUDQW6pULH G
LQVWDOODWLRQ
/DFKDUJHDGPLVVLEOHHWODVWDELOLWp
%RQjVDYRLU GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHFXLVVRQRXDXPLQLPXPGHODPrPH GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
ODUJHXUTXHOHSODQGHFXLVVRQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
0HUFLGHFRQVXOWHUOHVFRQVHLOV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
G
LQVWDOODWLRQGDQVOHFKDSLWUH HQFRQVLGpUDWLRQ
$SSDUHLOVG
DVSLUDWLRQ ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
XQHLQVWDOODWLRQjIOHXUGHSODQGH
WUDYDLO
/
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
QRWDPPHQWDXQLYHDXGHVGpFRXSHV
&RQFHUQDQWOHVDXWUHVPDWpULDX[
YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
GHWUDYDLO
/DUDLQXUHGRLWrWUHFRQWLQXHHWGH
QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
VDJHSDUOHGHVVRXV
/DODUJHXUGHODMRQFWLRQGpSHQGGH
ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
GpFRXSHGXSODQGHWUDYDLO
'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
ODLVVHUXQHVSDFHPLQLPXPGHPP
HQWUHOHVGpFRXSHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
ĂĂ$
Ă$
Ă% Ă%
Ă
ĂĂ$ ĂĂ$
ĂĂ$
5Ă 5Ă
GLDĂ &
¡Ă
GLDĂ
!Ă ¡Ă
!Ă
5Ă
0HVXUHVHQPP
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
&; GHWUDYDLORXjIOHXUGHSODQUHVSHFWHU
OHVVSpFLILFLWpVGHVGpFRXSHV
² 8QHVHXOHJUDQGHVXUIDFHGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
FXLVVRQ 9DULR6pULHXQHEDUUHWWHGH
² (PSODFHPHQWOLEUHGHVFDVVHUROHV MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
² 7RXWHVOHVWDLOOHVHWIRUPHVGH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² (FUDQ7)7RIIUHXQHJHVWLRQ G
LQVWDOODWLRQ
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&DGUHLQR[ FDVVHUROHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
UpFLSLHQWVMXVTX
jN: HQFRQVLGpUDWLRQ
/HSUL[FRPSUHQG ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
VHQVRUGHFXLVVRQ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
XQHJUDQGHSUpFLVLRQ WUDYDLO
$FFHVVRLUHVG
LQVWDOODWLRQ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
9$ ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SOXVLHXUVDSSDUHLOV9DULR6pULH 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9$ ࡱ &RQFHUQDQWOHVDXWUHVPDWpULDX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ GHWUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR GHFPò /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
6pULH -XVTX
jUpFLSLHQWVSHXYHQWrWUH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
$FFHVVRLUHVHQRSWLRQ FXLVVRQ SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&$ ࡱ SDUOHGHVVRXV
6HQVRUGHFXLVVRQ ࡱ+7 %DQGHDXGHFRPPDQGH /DODUJHXUGHODMRQFWLRQGpSHQGGH
SRXUUpJODJHGHOD (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
WHPSpUDWXUHGDQVOHVFDVVHUROHV LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH GpFRXSHGXSODQGHWUDYDLO
*1 ࡱ GHVRSpUDWLRQV 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
7HSSDQ<DNLFRPSRVp ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHSOXVLHXUVFRXFKHVGHPpWDO SRVLWLRQVGHFXLVVRQ ODLVVHUXQHVSDFHPLQLPXPGHPP
*DVWUR1RUP HQWUHOHVGpFRXSHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH &DUDFWpULVWLTXHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
/[+[3[[PP )RQFWLRQ6HQVRUGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
*1 ࡱ )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /H:RN:3QHSHXWSDVrWUH
7HSSDQ<DNLFRPSRVp ࡱ+7 )RQFWLRQ&XLVVRQ'\QDPLTXH XWLOLVpDYHFFHWDSSDUHLO
GHSOXVLHXUVFRXFKHVGHPpWDO )RQFWLRQ7HSSDQ<DNL /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
*DVWUR1RUP )RQFWLRQ%RRVWHUSRXUFDVVHUROHV WUDYDLOSDUOHGHVVXV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ%RRVWHUSRXUSRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
/[+[3[[PP )RQFWLRQ0DLQWLHQDXFKDXG
'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
&RPELQDEOHDYHF 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH HQSDJHVjHWSDJH
+RWWHVGHSODIRQG6pULHHW6pULH UpFLSLHQW
+RWWHGHSODQGHWUDYDLO6pULH &KURQRPqWUH 9DOHXUVGHUDFFRUGHPHQW
+RWWHvORWHWKRWWHPXUDOH6pULH 0LQXWHULHLQGpSHQGDQWH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHWLURLU6pULH 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ N:
*URXSHILOWUDQW6pULH 5pJXODWHXUG
pQHUJLH &kEOHGHUDFFRUGHPHQWPVDQV
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH SULVH
%RQjVDYRLU UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ KRWWHFRPSDWLEOH
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV PRGH'LJLWDO+RPH&RQQHFW
G
LQVWDOODWLRQGDQVOHFKDSLWUH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
$SSDUHLOVG
DVSLUDWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
&;,QWpJUDWLRQFODVVLTXH &;,QWpJUDWLRQjIOHXUGHSODQ
5Ă
5Ă
$
5Ă
Ă
Ă
Ă Ă
Ă
0HVXUHVHQPP 0HVXUHVHQPP
0HVXUHVHQPP
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
&; GHWUDYDLORXjIOHXUGHSODQUHVSHFWHU
OHVVSpFLILFLWpVGHVGpFRXSHV
² 8QHVHXOHJUDQGHVXUIDFHGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
FXLVVRQ 9DULR6pULHXQHEDUUHWWHGH
² (PSODFHPHQWOLEUHGHVFDVVHUROHV MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
² 7RXWHVOHVWDLOOHVHWIRUPHVGH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² (FUDQ7)7RIIUHXQHJHVWLRQ G
LQVWDOODWLRQ
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&DGUHLQR[ FDVVHUROHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
UpFLSLHQWVMXVTX
jN: HQFRQVLGpUDWLRQ
/HSUL[FRPSUHQG ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
VHQVRUGHFXLVVRQ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
XQHJUDQGHSUpFLVLRQ WUDYDLO
$FFHVVRLUHVG
LQVWDOODWLRQ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
9$ ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SOXVLHXUVDSSDUHLOV9DULR6pULH 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9$ ࡱ &RQFHUQDQWOHVDXWUHVPDWpULDX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ GHWUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR GHFPò /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
6pULH -XVTX
jUpFLSLHQWVSHXYHQWrWUH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
$FFHVVRLUHVHQRSWLRQ FXLVVRQ SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&$ ࡱ SDUOHGHVVRXV
6HQVRUGHFXLVVRQ ࡱ+7 %DQGHDXGHFRPPDQGH /DODUJHXUGHODMRQFWLRQGpSHQGGH
SRXUUpJODJHGHOD (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
WHPSpUDWXUHGDQVOHVFDVVHUROHV LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH GpFRXSHGXSODQGHWUDYDLO
*1 ࡱ GHVRSpUDWLRQV 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
7HSSDQ<DNLFRPSRVp ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHSOXVLHXUVFRXFKHVGHPpWDO SRVLWLRQVGHFXLVVRQ ODLVVHUXQHVSDFHPLQLPXPGHPP
*DVWUR1RUP HQWUHOHVGpFRXSHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH &DUDFWpULVWLTXHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
/[+[3[[PP )RQFWLRQ6HQVRUGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
*1 ࡱ )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /H:RN:3QHSHXWSDVrWUH
7HSSDQ<DNLFRPSRVp ࡱ+7 )RQFWLRQ&XLVVRQ'\QDPLTXH XWLOLVpDYHFFHWDSSDUHLO
GHSOXVLHXUVFRXFKHVGHPpWDO )RQFWLRQ7HSSDQ<DNL /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
*DVWUR1RUP )RQFWLRQ%RRVWHUSRXUFDVVHUROHV WUDYDLOSDUOHGHVVXV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ%RRVWHUSRXUSRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
/[+[3[[PP )RQFWLRQ0DLQWLHQDXFKDXG
'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
&RPELQDEOHDYHF 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH HQSDJHVjHWSDJH
+RWWHVGHSODIRQG6pULHHW6pULH UpFLSLHQW
+RWWHGHSODQGHWUDYDLO6pULH &KURQRPqWUH 9DOHXUVGHUDFFRUGHPHQW
+RWWHvORWHWKRWWHPXUDOH6pULH 0LQXWHULHLQGpSHQGDQWH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHWLURLU6pULH 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ N:
*URXSHILOWUDQW6pULH 5pJXODWHXUG
pQHUJLH &kEOHGHUDFFRUGHPHQWPVDQV
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH SULVH
%RQjVDYRLU UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ KRWWHFRPSDWLEOH
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV PRGH'LJLWDO+RPH&RQQHFW
G
LQVWDOODWLRQGDQVOHFKDSLWUH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
$SSDUHLOVG
DVSLUDWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
&;,QWpJUDWLRQFODVVLTXH &;,QWpJUDWLRQjIOHXUGHSODQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
7DEOHGHFXLVVRQ)OH[,QGXFWLRQ &RQVHLOVG
LQVWDOODWLRQ
6pULH /HVERXWRQVGHFRPPDQGHSHXYHQW
9, rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
UDSSRUWDX[]RQHVGHFXLVVRQ
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
GHV]RQHVGHFXLVVRQV HVWVXSpULHXUHjPPVHUpIpUHU
UHFWDQJXODLUHV DXVFKpPD0RQWDJHGHVERXWRQVGH
² 3RVLWLRQQHPHQWOLEUHGHV FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
FDVVHUROHVVXUOHV]RQHVGH SDQQHDX
FXLVVRQFRPELQpHV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
9, ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
6DQVFDGUH ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
+RPH&RQQHFW OHVSRrOHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
/DUJHXUFP ² *UDQGH]RQHGHFXLVVRQSRXU O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
FDVVHUROHVMXVTX
j¡FP GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
$FFHVVRLUHVG
LQVWDOODWLRQ ² ,GpDOSRXUODSRrOH:RNjIRQG HQFRQVLGpUDWLRQ
9$ ࡱ DUURQGLDYHFDFFHVVRLUHDGDSWDWHXU /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 6pOHFWLRQHWUpJODJHIDFLOHVGH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
SRXULQVWDOODWLRQjIOHXUGHSODQGH WRXWHVOHVIRQFWLRQVJUkFHDX RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
SOXVLHXUVDSSDUHLOV9DULR6pULH GLVSOD\ELFRORUH UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² %RXWRQGHFRPPDQGHHQLQR[ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
$FFHVVRLUHVHQRSWLRQ PDVVLI &RQFHUQDQWOHVDXWUHVPDWpULDX[
*3 ࡱ ² 6DQVFDGUHSRXUHQFDVWUHPHQW YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
3RrOH)U\LQJ6HQVRU ࡱ+7 jIOHXUGHSODQ GHWUDYDLO
HQLQR[ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
5HYrWHPHQWDQWLDGKpUHQW =RQHVGHFXLVVRQ QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
SRXU]RQHGHFXLVVRQFP =RQHGHGURLWH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
*3 ࡱ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
3RrOH)U\LQJ6HQVRU ࡱ+7 [FP:DYHF%RRVWHU VDJHSDUOHGHVVRXV
HQLQR[ :FRPELQDEOHVHQ]RQH[FP /DODUJHXUGHODMRQFWLRQGpSHQGGH
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU: ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
SRXU]RQHGHFXLVVRQFP =RQHGHJDXFKH GpFRXSHGXSODQGHWUDYDLO
*3 ࡱ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
3RrOH)U\LQJ6HQVRU ࡱ+7 [FP:DYHF%RRVWHU 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
HQLQR[ :FRPELQDEOHVHQ]RQH[FP ODLVVHUXQHVSDFHPLQLPXPGHPP
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU: HQWUHOHVGpFRXSHV
SRXU]RQHGHFXLVVRQFP =RQHDXFHQWUH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
*3 ࡱ ]RQHGHFXLVVRQLQGXFWLRQFP FXLVLQHjIRQGPDJQpWLTXH
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU: /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
HQLQR[ H[WHQVLEOHDXWRPDWLTXHPHQWHQFP WUDYDLOSDUOHGHVVXV
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU:HW 3RLGVGHO
DSSDUHLOHQYLUNJ
SRXU]RQHGHFXLVVRQFP FP:DYHF%RRVWHU:
:3 ࡱ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
3RrOH:RNHQLQR[ ࡱ+7 %DQGHDXGHFRPPDQGH HQSDJHVjHWSDJH
PXOWLFRXFKHV %RXWRQVGHFRPPDQGHDYHFDQQHDX
$YHFSRLJQpHHWIRQGDUURQGLFP OXPLQHX[LQGLFDWLRQGHV]RQHVGH 9DOHXUVGHUDFFRUGHPHQW
OLWUHVKDXWHXUFP FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
:= ࡱ &RQWU{OHpOHFWURQLTXHDYHF N:
6XSSRUWDGDSWDWHXU ࡱ+7 SRVLWLRQVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQV
SRXUSRrOH:RN 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV SULVH
8WLOLVDEOHXQLTXHPHQWVXU9DULR JUkFHDXGLVSOD\ELFRORUHEODQF
LQGXFWLRQ:RN RUDQJH
&RPELQDEOHDYHF &DUDFWpULVWLTXHV
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHGHSODQGHWUDYDLO6pULH UHFWDQJXODLUHV
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ)U\LQJ6HQVRU
+RWWHWLURLU6pULH )RQFWLRQ%RRVWHU
*URXSHILOWUDQW6pULH 0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
%RQjVDYRLU 5pJXODWHXUG
pQHUJLH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
GHFXLVVRQRXDXPLQLPXPGHODPrPH UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
ODUJHXUTXHOHSODQGHFXLVVRQ KRWWHFRPSDWLEOH
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
$SSDUHLOVG
DVSLUDWLRQ PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
&RXSXUHGHVpFXULWp
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
&
% %
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
9DULRGHFXLVVRQ)OH[,QGXFWLRQ 6pFXULWp
6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
9, 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHj
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ QLYHDX[
GHV]RQHVGHFXLVVRQV &RXSXUHGHVpFXULWp
UHFWDQJXODLUHV
² 3RVLWLRQQHPHQWOLEUHGHV &RQVHLOVG
LQVWDOODWLRQ
FDVVHUROHVVXUOHV]RQHVGH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
FXLVVRQFRPELQpHV DYHFFDGUHDSSDUHQWRXjIOHXUGH
9, ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ SODQO
HPSODFHPHQWGHODGpFRXSHGX
&DGUHHQLQR[ ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
+RPH&RQQHFW SRrOHV ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
/DUJHXUFP ² *UDQGH]RQHGHFXLVVRQSRXU /HVERXWRQVGHFRPPDQGHSHXYHQW
FDVVHUROHVMXVTX
j¡FP rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
$FFHVVRLUHVG
LQVWDOODWLRQ ² ,GpDOSRXUODSRrOH:RNjIRQG UDSSRUWDX[]RQHVGHFXLVVRQ
9$ ࡱ DUURQGLDYHFDFFHVVRLUHDGDSWDWHXU 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 6pOHFWLRQHWUpJODJHIDFLOHVGH HVWVXSpULHXUHjPPVHUpIpUHU
SRXULQVWDOODWLRQjIOHXUGHSODQGH WRXWHVOHVIRQFWLRQVJUkFHDX DXVFKpPD0RQWDJHGHVERXWRQVGH
SOXVLHXUVDSSDUHLOV9DULR6pULH GLVSOD\ELFRORUH FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
9$ ࡱ ² %RXWRQGHFRPPDQGHHQLQR[ SDQQHDX
%DUUHWWHGHMRQFWLRQ ࡱ+7 PDVVLI /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ ² &DGUHHQLQR[PDVVLIG
XQH 9DULR6pULHXQHEDUUHWWHGH
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR pSDLVVHXUGHPPWUDYDLOOpDYHF MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
6pULH XQHJUDQGHSUpFLVLRQ FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
² 3HXWrWUHLQVWDOOpVXUOHSODQGH GHMRQFWLRQDGpTXDWHVHORQOHW\SH
$FFHVVRLUHVHQRSWLRQ WUDYDLODYHFFDGUHDSSDUHQWRXj G
LQVWDOODWLRQ
*3 ࡱ IOHXUGHSODQ /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
3RrOH)U\LQJ6HQVRU ࡱ+7 ² 6HFRPELQHSDUIDLWHPHQWDYHF GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
HQLQR[ OHV9DULRGHOD6pULH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
GHFXLVVRQFP =RQHVGHFXLVVRQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
*3 ࡱ =RQHGHGURLWH GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ HQFRQVLGpUDWLRQ
HQLQR[ [FP:DYHF%RRVWHU ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH :FRPELQDEOHVHQ]RQH[FP XQHLQVWDOODWLRQjIOHXUGHSODQGH
GHFXLVVRQFP :DYHF%RRVWHU: WUDYDLO
*3 ࡱ =RQHGHJDXFKH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
HQLQR[ [FP:DYHF%RRVWHU RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH :FRPELQDEOHVHQ]RQH[FP UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
GHFXLVVRQFP :DYHF%RRVWHU: QRWDPPHQWDXQLYHDXGHVGpFRXSHV
*3 ࡱ =RQHDXFHQWUH &RQFHUQDQWOHVDXWUHVPDWpULDX[
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHGHFXLVVRQLQGXFWLRQFP YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
HQLQR[ :DYHF%RRVWHU: GHWUDYDLO
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH H[WHQVLEOHDXWRPDWLTXHPHQWHQFP /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
GHFXLVVRQFP :DYHF%RRVWHU:HW QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
:3 ࡱ FP:DYHF%RRVWHU: XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
3RrOH:RNHQLQR[ ࡱ+7 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
PXOWLFRXFKHV %DQGHDXGHFRPPDQGH VDJHSDUOHGHVVRXV
$YHFSRLJQpHHWIRQGDUURQGLFP %RXWRQVGHFRPPDQGHDYHFDQQHDX /DODUJHXUGHODMRQFWLRQGpSHQGGH
OLWUHVKDXWHXUFP OXPLQHX[LQGLFDWLRQGHV]RQHVGH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
:= ࡱ FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV GpFRXSHGXSODQGHWUDYDLO
6XSSRUWDGDSWDWHXU ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
SRXUSRrOH:RN SRVLWLRQVGHFXLVVRQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
8WLOLVDEOHXQLTXHPHQWVXU9DULR 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV ODLVVHUXQHVSDFHPLQLPXPGHPP
LQGXFWLRQ:RN JUkFHDXGLVSOD\ELFRORUHEODQF HQWUHOHVGpFRXSHV
RUDQJH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&RPELQDEOHDYHF FXLVLQHjIRQGPDJQpWLTXH
+RWWHVGHSODIRQG6pULHHW6pULH &DUDFWpULVWLTXHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ WUDYDLOSDUOHGHVVXV
+RWWHvORWHWKRWWHPXUDOH6pULH UHFWDQJXODLUHV 3RLGVGHO
DSSDUHLOHQYLUNJ
+RWWHWLURLU6pULH )RQFWLRQ)U\LQJ6HQVRU
*URXSHILOWUDQW6pULH )RQFWLRQ%RRVWHU &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
&KURQRPqWUH HQSDJHVjHWSDJH
%RQjVDYRLU 0LQXWHULHLQGpSHQGDQWH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 0HQXG
RSWLRQVSHUVRQQDOLVpHV 9DOHXUVGHUDFFRUGHPHQW
GHFXLVVRQRXDXPLQLPXPGHODPrPH 5pJXODWHXUG
pQHUJLH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
ODUJHXUTXHOHSODQGHFXLVVRQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH N:
0HUFLGHFRQVXOWHUOHVFRQVHLOV UpJODJHGHODWDEOHGHFXLVVRQDYHFOD &kEOHGHUDFFRUGHPHQWPVDQV
G
LQVWDOODWLRQGDQVOHFKDSLWUH KRWWHFRPSDWLEOH SULVH
$SSDUHLOVG
DVSLUDWLRQ
0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
5 5
$
5
¡ ¡
¡ ¡
! !
0HVXUHVHQPP 0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
!
!
0HVXUHVHQPP 0HVXUHVHQPP
5
5
0HVXUHVHQPP
%
0HVXUHVHQPP
%
$
0HVXUHVHQPP
7DEOHGHFXLVVRQ)OH[,QGXFWLRQ 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
6pULH HVWVXSpULHXUHjPPVHUpIpUHU
9, DXVFKpPD0RQWDJHGHVERXWRQVGH
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ SDQQHDX
GHV]RQHVGHFXLVVRQV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
UHFWDQJXODLUHV GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
² 3RVLWLRQQHPHQWOLEUHGHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
FDVVHUROHVVXUOHV]RQHVGH GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
DXWRPDWLTXHMXVTX
jODUJHXUFP GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
9, ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ HQFRQVLGpUDWLRQ
6DQVFDGUH ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
+RPH&RQQHFW SRrOHV SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
/DUJHXUFP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
WRXWHVOHVIRQFWLRQVJUkFHDX UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$FFHVVRLUHVLQVWDOODWLRQ GLVSOD\ELFRORUH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9$ ࡱ ² %RXWRQGHFRPPDQGHHQLQR[ &RQFHUQDQWOHVDXWUHVPDWpULDX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 PDVVLI YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6DQVFDGUHSRXUHQFDVWUHPHQWj GHWUDYDLO
SOXVLHXUVDSSDUHLOV9DULR6pULH IOHXUGHSODQ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
$FFHVVRLUHVHQRSWLRQ =RQHVGHFXLVVRQ XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
*3 ࡱ =RQHGHGURLWH 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ VDJHSDUOHGHVVRXV
HQLQR[ [FP:DYHF%RRVWHU /DODUJHXUGHODMRQFWLRQGpSHQGGH
5HYrWHPHQWDQWLDGKpUHQW :FRPELQDEOHVHQ]RQH[FP ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
SRXU]RQHGHFXLVVRQFP :DYHF%RRVWHU:DYHF GpFRXSHGXSODQGHWUDYDLO
*3 ࡱ H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU: 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
HQLQR[ =RQHGHJDXFKH ODLVVHUXQHVSDFHPLQLPXPGHPP
5HYrWHPHQWDQWLDGKpUHQW ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ HQWUHOHVGpFRXSHV
SRXU]RQHGHFXLVVRQFP [FP:DYHF%RRVWHU 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
*3 ࡱ :FRPELQDEOHVHQ]RQH[FP FXLVLQHjIRQGPDJQpWLTXH
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU:DYHF /H:RN:3QHSHXWSDVrWUH
HQLQR[ H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP XWLOLVpDYHFFHWDSSDUHLO
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU: /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
SRXU]RQHGHFXLVVRQFP WUDYDLOSDUOHGHVVXV
*3 ࡱ %DQGHDXGHFRPPDQGH 3RLGVGHO
DSSDUHLOHQYLUNJ
3RrOH)U\LQJ6HQVRU ࡱ+7 %RXWRQVGHFRPPDQGHDYHFDQQHDX
HQLQR[ OXPLQHX[LQGLFDWLRQGHV]RQHVGH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
5HYrWHPHQWDQWLDGKpUHQW FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV HQSDJHVjHWSDJH
SRXU]RQHGHFXLVVRQFP &RQWU{OHpOHFWURQLTXHDYHF
SRVLWLRQVGHFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW
&RPELQDEOHDYHF 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHVGHSODIRQG6pULHHW6pULH JUkFHDXGLVSOD\ELFRORUHEODQF N:
+RWWHGHSODQGHWUDYDLO6pULH RUDQJH &kEOHGHUDFFRUGHPHQWPVDQV
+RWWHvORWHWKRWWHPXUDOH6pULH SULVH
+RWWHWLURLU6pULH &DUDFWpULVWLTXHV
*URXSHILOWUDQW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
UHFWDQJXODLUHV
%RQjVDYRLU )RQFWLRQ)U\LQJ6HQVRU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ%RRVWHU
GHFXLVVRQRXDXPLQLPXPGHODPrPH &KURQRPqWUH
ODUJHXUTXHOHSODQGHFXLVVRQ 0LQXWHULHLQGpSHQGDQWH
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO 0HQXG
RSWLRQVSHUVRQQDOLVpHV
ODWLRQGDQVOHFKDSLWUH 5pJXODWHXUG
pQHUJLH
$SSDUHLOVG
DVSLUDWLRQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
/HVERXWRQVGHFRPPDQGHSHXYHQW
rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
UDSSRUWDX[]RQHVGHFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
9DULRGHFXLVVRQ)OH[,QGXFWLRQ &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
9, DYHFFDGUHDSSDUHQWRXjIOHXUGH
SODQO
HPSODFHPHQWGHODGpFRXSHGX
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
GHV]RQHVGHFXLVVRQV ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
UHFWDQJXODLUHV /HVERXWRQVGHFRPPDQGHSHXYHQW
² 3RVLWLRQQHPHQWOLEUHGHV rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
FDVVHUROHVVXUOHV]RQHVGH UDSSRUWDX[]RQHVGHFXLVVRQ
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
DXWRPDWLTXHMXVTX
jODUJHXUFP HVWVXSpULHXUHjPPVHUpIpUHU
9, ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ DXVFKpPD0RQWDJHGHVERXWRQVGH
6DQVFDGUH ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
+RPH&RQQHFW SRrOHV SDQQHDX
/DUJHXUFP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
WRXWHVOHVIRQFWLRQVJUkFHDX 9DULR6pULHXQHEDUUHWWHGH
$FFHVVRLUHVG
LQVWDOODWLRQ GLVSOD\ELFRORUH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
9$ ࡱ ² %RXWRQGHFRPPDQGHHQLQR[ FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
%DUUHWWHGHMRQFWLRQ ࡱ+7 PDVVLI GHMRQFWLRQDGpTXDWHVHORQOHW\SH
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² &DGUHHQLQR[PDVVLIG
XQH G
LQVWDOODWLRQ
SOXVLHXUVDSSDUHLOV9DULR6pULH pSDLVVHXUGHPPWUDYDLOOpDYHF /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
9$ ࡱ XQHJUDQGHSUpFLVLRQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 3HXWrWUHLQVWDOOpVXUOHSODQGH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ WUDYDLODYHFFDGUHDSSDUHQWRXj GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR IOHXUGHSODQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
6pULH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
9DULRGHOD6pULH HQFRQVLGpUDWLRQ
$FFHVVRLUHVHQRSWLRQ ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
*3 ࡱ =RQHVGHFXLVVRQ XQHLQVWDOODWLRQjIOHXUGHSODQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 =RQHGHGURLWH WUDYDLO
HQLQR[ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH [FP:DYHF%RRVWHU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
GHFXLVVRQFP :FRPELQDEOHVHQ]RQH[FP RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
*3 ࡱ :DYHF%RRVWHU:DYHF UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
3RrOH)U\LQJ6HQVRU ࡱ+7 H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP QRWDPPHQWDXQLYHDXGHVGpFRXSHV
HQLQR[ :DYHF%RRVWHU: &RQFHUQDQWOHVDXWUHVPDWpULDX[
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH =RQHGHJDXFKH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
GHFXLVVRQFP ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ GHWUDYDLO
*3 ࡱ [FP:DYHF%RRVWHU /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
3RrOH)U\LQJ6HQVRU ࡱ+7 :FRPELQDEOHVHQ]RQH[FP QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
HQLQR[ :DYHF%RRVWHU:DYHF XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
GHFXLVVRQFP :DYHF%RRVWHU: VDJHSDUOHGHVVRXV
*3 ࡱ /DODUJHXUGHODMRQFWLRQGpSHQGGH
3RrOH)U\LQJ6HQVRU ࡱ+7 %DQGHDXGHFRPPDQGH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
HQLQR[ %RXWRQVGHFRPPDQGHDYHFDQQHDX GpFRXSHGXSODQGHWUDYDLO
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH OXPLQHX[LQGLFDWLRQGHV]RQHVGH 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
GHFXLVVRQFP FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
&RQWU{OHpOHFWURQLTXHDYHF ODLVVHUXQHVSDFHPLQLPXPGHPP
&RPELQDEOHDYHF SRVLWLRQVGHFXLVVRQ HQWUHOHVGpFRXSHV
+RWWHVGHSODIRQG6pULHHW6pULH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
+RWWHGHSODQGHWUDYDLO6pULH JUkFHDXGLVSOD\ELFRORUHEODQF FXLVLQHjIRQGPDJQpWLTXH
+RWWHvORWHWKRWWHPXUDOH6pULH RUDQJH /H:RN:3QHSHXWSDVrWUH
+RWWHWLURLU6pULH XWLOLVpDYHFFHWDSSDUHLO
*URXSHILOWUDQW6pULH &DUDFWpULVWLTXHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
)RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ WUDYDLOSDUOHGHVVXV
%RQjVDYRLU UHFWDQJXODLUHV 3RLGVGHO
DSSDUHLOHQYLUNJ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ)U\LQJ6HQVRU
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ%RRVWHU &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
ODUJHXUTXHOHSODQGHFXLVVRQ &KURQRPqWUH HQSDJHVjHWSDJH
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0LQXWHULHLQGpSHQGDQWH
G
LQVWDOODWLRQGDQVOHFKDSLWUH 0HQXG
RSWLRQVSHUVRQQDOLVpHV 9DOHXUVGHUDFFRUGHPHQW
$SSDUHLOVG
DVSLUDWLRQ 5pJXODWHXUG
pQHUJLH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH N:
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD &kEOHGHUDFFRUGHPHQWPVDQV
KRWWHFRPSDWLEOH SULVH
0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
&RXSXUHGHVpFXULWp
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
5 5
¡ ¡ $
¡ ¡
! ! 5
0HVXUHVHQPP 0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
!
!
0HVXUHVHQPP 0HVXUHVHQPP
5
5
0HVXUHVHQPP
%
0HVXUHVHQPP
%
$
0HVXUHVHQPP
7DEOHGHFXLVVRQ)OH[,QGXFWLRQ /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
6pULH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
9, DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
GHV]RQHVGHFXLVVRQV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
UHFWDQJXODLUHV HQFRQVLGpUDWLRQ
² 3RVLWLRQQHPHQWOLEUHGHV /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
FDVVHUROHVVXUOHV]RQHVGH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
DXWRPDWLTXHMXVTX
jODUJHXUFP UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
FRQWU{OHGHODWHPSpUDWXUHGDQV &RQFHUQDQWOHVDXWUHVPDWpULDX[
OHVSRrOHV YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
9, ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH GHWUDYDLO
6DQVFDGUH ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
+RPH&RQQHFW GLVSOD\ELFRORUH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
/DUJHXUFP ² %RXWRQGHFRPPDQGHHQLQR[ XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
PDVVLI SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
$FFHVVRLUHVG
LQVWDOODWLRQ ² 6DQVFDGUHSRXUHQFDVWUHPHQWj SDUOHGHVVRXV
9$ ࡱ IOHXUGHSODQ /DODUJHXUGHODMRQFWLRQGpSHQGGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
SRXULQVWDOODWLRQjIOHXUGHSODQGH =RQHVGHFXLVVRQ GpFRXSHGXSODQGHWUDYDLO
SOXVLHXUVDSSDUHLOV9DULR6pULH =RQHGHGURLWH 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
$FFHVVRLUHVHQRSWLRQ [FP:DYHF%RRVWHU ODLVVHUXQHVSDFHPLQLPXPGHPP
*3 ࡱ :FRPELQDEOHVHQ]RQH[FP HQWUHOHVGpFRXSHV
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU:DYHF 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
HQLQR[ H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP FXLVLQHjIRQGPDJQpWLTXH
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU: /H:RN:3QHSHXWSDVrWUH
SRXU]RQHGHFXLVVRQFP =RQHGHJDXFKH XWLOLVpDYHFFHWDSSDUHLO
*3 ࡱ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 [FP:DYHF%RRVWHU WUDYDLOSDUOHGHVVXV
HQLQR[ :FRPELQDEOHVHQ]RQH[FP 3RLGVGHO
DSSDUHLOHQYLUNJ
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU:
SRXU]RQHGHFXLVVRQFP &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
*3 ࡱ %DQGHDXGHFRPPDQGH HQSDJHVjHWSDJH
3RrOH)U\LQJ6HQVRU ࡱ+7 %RXWRQVGHFRPPDQGHDYHFDQQHDX
HQLQR[ OXPLQHX[LQGLFDWLRQGHV]RQHVGH 9DOHXUVGHUDFFRUGHPHQW
5HYrWHPHQWDQWLDGKpUHQW FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
SRXU]RQHGHFXLVVRQFP &RQWU{OHpOHFWURQLTXHDYHF N:
*3 ࡱ SRVLWLRQVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQV
3RrOH)U\LQJ6HQVRU ࡱ+7 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV SULVH
HQLQR[ JUkFHDXGLVSOD\ELFRORUHEODQF
5HYrWHPHQWDQWLDGKpUHQW RUDQJH
SRXU]RQHGHFXLVVRQFP
&DUDFWpULVWLTXHV
&RPELQDEOHDYHF )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH UHFWDQJXODLUHV
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ)U\LQJ6HQVRU
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ%RRVWHU
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH &KURQRPqWUH
+RWWHWLURLU6pULH 0LQXWHULHLQGpSHQGDQWH
*URXSHILOWUDQW6pULH 0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
%RQjVDYRLU &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
GHFXLVVRQRXDXPLQLPXPGHODPrPH KRWWHFRPSDWLEOH
ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
ODWLRQGDQVOHFKDSLWUH PRGH'LJLWDO+RPH&RQQHFW
$SSDUHLOVG
DVSLUDWLRQ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
/HVERXWRQVGHFRPPDQGHSHXYHQW
rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
UDSSRUWDX[]RQHVGHFXLVVRQ
6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
HVWVXSpULHXUHjPPVHUpIpUHU
DXVFKpPD0RQWDJHGHVERXWRQVGH
FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
SDQQHDX /HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
9DULRGHFXLVVRQ)OH[,QGXFWLRQ &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
9, DYHFFDGUHDSSDUHQWRXjIOHXUGH
SODQO
HPSODFHPHQWGHODGpFRXSHGX
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
GHV]RQHVGHFXLVVRQV ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
UHFWDQJXODLUHV /HVERXWRQVGHFRPPDQGHSHXYHQW
² 3RVLWLRQQHPHQWOLEUHGHV rWUHSRVLWLRQQpVKRUL]RQWDOHPHQWSDU
FDVVHUROHVVXUOHV]RQHVGH UDSSRUWDX[]RQHVGHFXLVVRQ
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
DXWRPDWLTXHMXVTX
jODUJHXUFP HVWVXSpULHXUHjPPVHUpIpUHU
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ DXVFKpPD0RQWDJHGHVERXWRQVGH
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
SRrOHV SDQQHDX
9, ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
&DGUHHQLQR[ ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX 9DULR6pULHXQHEDUUHWWHGH
+RPH&RQQHFW GLVSOD\ELFRORUH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
/DUJHXUFP ² %RXWRQGHFRPPDQGHHQLQR[ FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
PDVVLI GHMRQFWLRQDGpTXDWHVHORQOHW\SH
$FFHVVRLUHVG
LQVWDOODWLRQ ² &DGUHHQLQR[PDVVLIG
XQH G
LQVWDOODWLRQ
9$ ࡱ pSDLVVHXUGHPPWUDYDLOOpDYHF /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
%DUUHWWHGHMRQFWLRQ ࡱ+7 XQHJUDQGHSUpFLVLRQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 3HXWrWUHLQVWDOOpVXUOHSODQGH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
SOXVLHXUVDSSDUHLOV9DULR6pULH WUDYDLODYHFFDGUHDSSDUHQWRXj GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
9$ ࡱ IOHXUGHSODQ O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 9DULRGHOD6pULH HQFRQVLGpUDWLRQ
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
6pULH =RQHVGHFXLVVRQ XQHLQVWDOODWLRQjIOHXUGHSODQGH
=RQHGHGURLWH WUDYDLO
$FFHVVRLUHVHQRSWLRQ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
*3 ࡱ [FP:DYHF%RRVWHU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
3RrOH)U\LQJ6HQVRU ࡱ+7 :FRPELQDEOHVHQ]RQH[FP RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
HQLQR[ :DYHF%RRVWHU:DYHF UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP QRWDPPHQWDXQLYHDXGHVGpFRXSHV
GHFXLVVRQFP :DYHF%RRVWHU: &RQFHUQDQWOHVDXWUHVPDWpULDX[
*3 ࡱ =RQHGHJDXFKH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ GHWUDYDLO
HQLQR[ [FP:DYHF%RRVWHU /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH :FRPELQDEOHVHQ]RQH[FP QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
GHFXLVVRQFP :DYHF%RRVWHU: XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
*3 ࡱ 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLV
3RrOH)U\LQJ6HQVRU ࡱ+7 %DQGHDXGHFRPPDQGH VDJHSDUOHGHVVRXV
HQLQR[ %RXWRQVGHFRPPDQGHDYHFDQQHDX /DODUJHXUGHODMRQFWLRQGpSHQGGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH OXPLQHX[LQGLFDWLRQGHV]RQHVGH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
GHFXLVVRQFP FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV GpFRXSHGXSODQGHWUDYDLO
*3 ࡱ &RQWU{OHpOHFWURQLTXHDYHF 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
3RrOH)U\LQJ6HQVRU ࡱ+7 SRVLWLRQVGHFXLVVRQ 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
HQLQR[ 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV ODLVVHUXQHVSDFHPLQLPXPGHPP
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH JUkFHDXGLVSOD\ELFRORUHEODQF HQWUHOHVGpFRXSHV
GHFXLVVRQFP RUDQJH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
FXLVLQHjIRQGPDJQpWLTXH
&RPELQDEOHDYHF &DUDFWpULVWLTXHV /H:RN:3QHSHXWSDVrWUH
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ XWLOLVpDYHFFHWDSSDUHLO
+RWWHGHSODQGHWUDYDLO6pULH UHFWDQJXODLUHV /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ)U\LQJ6HQVRU WUDYDLOSDUOHGHVVXV
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH )RQFWLRQ%RRVWHU 3RLGVGHO
DSSDUHLOHQYLUNJ
+RWWHWLURLU6pULH &KURQRPqWUH
*URXSHILOWUDQW6pULH 0LQXWHULHLQGpSHQGDQWH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
0HQXG
RSWLRQVSHUVRQQDOLVpHV HQSDJHVjHWSDJH
%RQjVDYRLU 5pJXODWHXUG
pQHUJLH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH 9DOHXUVGHUDFFRUGHPHQW
GHFXLVVRQRXDXPLQLPXPGHODPrPH UpJODJHGHODWDEOHGHFXLVVRQDYHFOD 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
ODUJHXUTXHOHSODQGHFXLVVRQ KRWWHFRPSDWLEOH N:
0HUFLGHFRQVXOWHUOHVFRQVHLOV &kEOHGHUDFFRUGHPHQWPVDQV
G
LQVWDOODWLRQGDQVOHFKDSLWUH 0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV SULVH
$SSDUHLOVG
DVSLUDWLRQ PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
&RXSXUHGHVpFXULWp
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
5 5
¡ GLD $
¡ GLD
! !
5
0HVXUHVHQPP 0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
! !
0HVXUHVHQPP 0HVXUHVHQPP
5
5
0HVXUHVHQPP
%
0HVXUHVHQPP
%
$
0HVXUHVHQPP
9DULRJD]6pULH 9DOHXUVGHUDFFRUGHPHQW 3RVVLELOLWpGHSRVLWLRQQHPHQW
9* 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD] KRUL]RQWDOGHVERXWRQVSRXUXQ
N: DOLJQHPHQWDYHFOHVEUOHXUV
² EUOHXUVPXOWLFRXURQQHVMXVTX
j 3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
N: WRWDOH: HVWVXSpULHXUHjPPVHUpIpUHUDX
² 5pJXODWLRQWRXWpOHFWURQLTXHGHOD &kEOHPDYHFSULVH VFKpPD0RQWDJHGHVERXWRQVGH
SXLVVDQFHHQSRVLWLRQVGH FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
FXLVVRQ SDQQHDX
² 7DLOOHGHIODPPHSUpFLVHHW /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
9* ) ࡱ UHSURGXFWLEOH 9DULR6pULHXQHEDUUHWWHGH
,QR[ ࡱ+7 ² $OOXPDJHDXWRPDWLTXHHWUDSLGH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
/DUJHXUFP FRQWU{OHpOHFWURQLTXHGHODIODPPH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWHGH
*D]EXWDQHSURSDQHPEDU DYHFUpDOOXPDJHDXWRPDWLTXHHQ MRQFWLRQDGpTXDWHVHORQOHW\SH
9* ࡱ FDVG
H[WLQFWLRQDFFLGHQWHOOHGHOD G
LQVWDOODWLRQ
,QR[ ࡱ+7 IODPPH /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
/DUJHXUFP ² )RQFWLRQPLMRWDJHSRXUGHV GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
*D]QDWXUHOPEDU FXLVVRQVjWHPSpUDWXUHEDVVHHW DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
UpJXOLqUH GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
/HSUL[FRPSUHQG ² *ULOOHVHQIRQWHKDXWHVWDELOLWp O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
DQQHDXSRXU:2. ² %RXWRQGHFRPPDQGHHQLQR[ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
PDVVLI HQFRQVLGpUDWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
9$ ࡱ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 XQHJUDQGHSUpFLVLRQ WUDYDLO
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
SOXVLHXUVDSSDUHLOV9DULR6pULH WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9$ ࡱ IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
%DUUHWWHGHMRQFWLRQ ࡱ+7 ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR &RQFHUQDQWOHVDXWUHVPDWpULDX[
6pULH =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
9*) GHWUDYDLO
$FFHVVRLUHVHQRSWLRQ %UOHXU:RNWULSOHFRXURQQHGH /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
:3 ࡱ IODPPHV::SRXUGHV QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
3RrOH:RNHQLQR[ ࡱ+7 FDVVHUROHVMXVTX
jPD[LFP XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
PXOWLFRXFKHV %UOHXUVSXLVVDQWVGRXEOHFRXURQQH 1HSDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH GHIODPPHV::SRXU SDUOHGHVVRXV
FPOLWUHVKDXWHXUFP GHVFDVVHUROHVMXVTX
jPD[LFP /DODUJHXUGHODMRQFWLRQGpSHQGGHOD
%UOHXUVGRXEOHFRXURQQHGH WROpUDQFHHQWUHOHVDSSDUHLOVHWOD
&RPELQDEOHDYHF IODPPHV::SRXUGHV GpFRXSHGXSODQGHWUDYDLO
+RWWHVGHSODIRQG6pULHHW6pULH FDVVHUROHVMXVTX
jPD[LFP 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
+RWWHGHSODQGHWUDYDLO6pULH 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
+RWWHvORWHWKRWWHPXUDOH6pULH 9* ODLVVHUXQHVSDFHPLQLPXPGHPP
+RWWHWLURLU6pULH %UOHXU:RNWULSOHFRXURQQHGH HQWUHOHVGpFRXSHV
*URXSHILOWUDQW6pULH IODPPHV::SRXUGHV 'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
FDVVHUROHVMXVTX
jPD[LFP FRPPDQGpVFRPPHSLqFHVGH
%RQjVDYRLU %UOHXUVSXLVVDQWVGRXEOHFRXURQQH UHFKDQJH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ GHIODPPHV::SRXU 3UpYRLUXQHFRQQH[LRQpOHFWULTXH
GHFXLVVRQRXDXPLQLPXPGHODPrPH GHVFDVVHUROHVMXVTX
jPD[LFP O
DSSDUHLOQ
HVWSDVIRQFWLRQQHOVDQV
ODUJHXUTXHOHSODQGHFXLVVRQ %UOHXUVGRXEOHFRXURQQHGH UDFFRUGHPHQWpOHFWULTXH
0HUFLGHFRQVXOWHUOHVFRQVHLOV IODPPHV::SRXUGHV 3ULVHG
DLUSDUOHKDXW
G
LQVWDOODWLRQGDQVOHFKDSLWUH FDVVHUROHVMXVTX
jPD[LFP 3DVGHSODQFKHULQWHUPpGLDLUH
$SSDUHLOVG
DVSLUDWLRQ QpFHVVDLUH
%DQGHDXGHFRPPDQGH /DSDURLDUULqUHHWOHVSURILOpVGHILQLWLRQ
%RXWRQVGHFRPPDQGHDYHFDQQHDX PXUDOHGRLYHQWUpVLVWHUjODFKDOHXUHW
OXPLQHX[LQGLFDWLRQGHV]RQHVGH rWUHHQPDWpULDXLQLQIODPPDEOH
FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 'LVWDQFHODWpUDOHPLQLPDOHGHPP
$OOXPDJHXQHPDLQ DYHFOHVPHXEOHVODWpUDX[SRXU
&RQWU{OHWRXWpOHFWURQLTXHSRXUXQH SURWHFWLRQFRQWUHFKDXIIHRXSUpYRLU
UpJXODWLRQSUpFLVHGHVQLYHDX[GH LVRODWLRQVXSSOpPHQWDLUH
SXLVVDQFHHWGHODIRQFWLRQPLMRWDJH ,QWpJUDWLRQGDQVXQPHXEOHEDVGH
$OOXPDJHUDSLGHDXWRPDWLTXH ODUJHXUFPPLQLPXPSRVVLEOH
3DVG
LQVWDOODWLRQDYHF9/
&DUDFWpULVWLTXHV O
HIILFDFLWpG
DVSLUDWLRQQ
pWDQWSDV
)RQFWLRQPLMRWDJH JDUDQWLHDXQLYHDXGXEUOHXUFHQWUDO
JULOOHVHQIRQWHKDXWHVWDELOLWp GXIDLWGHO
pORLJQHPHQW
%UOHXUVHQODLWRQ /RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
6pFXULWp HVWVXSpULHXUHjN:LOIDXW
&RQWU{OHpOHFWURQLTXHGHODIODPPHHW UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
UpDOOXPDJHDXWRPDWLTXHHQFDV FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
G
H[WLQFWLRQDFFLGHQWHOOHGHODIODPPH VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH HQpYDFXDWLRQH[WpULHXUHRXHQ
&RXSXUHGHVpFXULWp UHF\FODJH/DGLVWDQFHPLQLPDOHHQWUH
ODWDEOHGHFXLVVRQJD]GHSOXVGH
&RQVHLOVG
LQVWDOODWLRQ N:HWODKRWWHGRLWrWUHGHFP
6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
DYHFFDGUHDSSDUHQWRXjIOHXUGH WUDYDLOSDUOHGHVVXV
SODQUHVSHFWHUOHVVSpFLILFLWpVGHV 3RLGVGHO
DSSDUHLOHQYLUNJ
GpFRXSHV
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
HQSDJHVj
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
5 5
$
5
¡ ¡
¡ ¡
! !
$
0HVXUHVHQPP
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
0HVXUHVHQPP
Montage des boutons de commande, installation classique Montage des boutons de commande, installation à fleur de plan
!
!
0HVXUHVHQPP 0HVXUHVHQPP
5
5
0HVXUHVHQPP
%
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
0HVXUHVHQPP
%
$
$
HQFRPELQDLVRQDYHFWDEOHVLQGXFWLRQVDQVFDGUH
%UHPSOLUGHVLOLFRQH
0HVXUHVHQPP
9DULR$pUDWHXU6pULH &DLVVRQVPRWHXUVFRUUHVSRQGDQWV &RQVHLOVG
LQVWDOODWLRQ
9/ YRLUSDJHV ,OHVWUHFRPPDQGpG
LQVWDOOHUXQ
PRWHXUSDU9/
² 3RXUXQHFRPELQDLVRQSDUIDLWHj /HPRGHUHF\FODJHQ
HVWSDV
IOHXUGHSODQDYHFOHVDXWUHV UHFRPPDQGpGDQVOHFDVGH
DSSDUHLOV9DULRGHOD6pULH O
LQVWDOODWLRQG
XQ9DULR*ULOpOHFWULTXH
² &DGUHHQLQR[PDVVLIG
XQH /DUJHXUPD[LPDOHGHODSODTXHGH
pSDLVVHXUGHPPWUDYDLOOpDYHF $5 FXLVVRQHQWUH9/FP
XQHJUDQGHSUpFLVLRQ /H9DULR*ULOpOHFWULTXHHWOH9DULR*D]
² /LYUpDYHFERXWRQGHFRPPDQGH :RNGRLYHQWrWUHSODFpVHQWUH9/
HQLQR[PDVVLI (QFDVG
XWLOLVDWLRQjF{WpG
XQDSSDUHLO
² 6\VWqPHGHYHQWLODWLRQWUqV JD]OHGpIOHFWHXUG
DLU$$
SHUIRUPDQWHWSDUWLFXOLqUHPHQW HVWUHFRPPDQGpSRXUDVVXUHUOD
೦1RXYHDX VLOHQFLHX[QRWDPPHQWDYHFOH SHUIRUPDQFHPD[LPDOHGHODWDEOHGH
9/ ೦ ࡱ FDLVVRQPRWHXUVpSDUp$5 FXLVVRQ
,QR[ ࡱ+7 ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH $5 /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
/DUJHXUFP SDU6HQVRUDGDSWHODSXLVVDQFH WUDYDLOSDUOHGHVVXV
(YDFXDWLRQH[WpULHXUHRXPRGH G
DVSLUDWLRQDXYROXPHGHVYDSHXUV 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
UHF\FODJH GHFXLVVRQ DYHFFDGUHDSSDUHQWRXjIOHXUGH
6DQVPRWHXU ² 3ODQLILFDWLRQHWLQVWDOODWLRQIDFLOHV SODQO
HPSODFHPHQWGHODGpFRXSHGX
SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
$FFHVVRLUHVG
LQVWDOODWLRQ 3HUIRUPDQFHV ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
$' ࡱ /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW $5 /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
3LqFHGHFRQQH[LRQ ࡱ+7 GXPRWHXUVpSDUpDVVRFLpYRLUWDEOHDX 9DULR6pULHXQHEDUUHWWHGH
IOH[LEOHSRXU9/HW9/ SDJH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
PPSODW FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
$' ࡱ &DUDFWpULVWLTXHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
3LqFHGHFRQQH[LRQ ࡱ+7 %RXWRQGHFRPPDQGHDYHFDQQHDX G
LQVWDOODWLRQ
SRXU9/HW9/SRXUH[WHQVLRQ OXPLQHX[LQFOXVGDQVODOLYUDLVRQ $5 /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
DYHFJDLQHSODWHPPSRXUSODQ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
GHWUDYDLOWUqVSURIRQG LQWHQVLYH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
9$ ࡱ )RQFWLRQ$XWRPDWLTXHDYHF GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
SRXULQVWDOODWLRQjIOHXUGHSODQGH )LOWUHDQWLJUDLVVHPpWDOOLTXHDYHFXQ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
SOXVLHXUVDSSDUHLOV9DULR6pULH IRUWWDX[G
DEVRUSWLRQGHVJUDLVVHV HQFRQVLGpUDWLRQ
9$ ࡱ )LOWUHDQWLJUDLVVHODYDEOHDXODYHYDLVVHOOH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
%DUUHWWHGHMRQFWLRQ ࡱ+7 7pPRLQGHVDWXUDWLRQGHVILOWUHV XQHLQVWDOODWLRQjIOHXUGHSODQGH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ DQWLJUDLVVHHWFKDUERQDFWLI $5 WUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR )OX[G
DLULQWpULHXURSWLPLVpSRXU /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
6pULH XQJXLGDJHGHODFLUFXODWLRQGHO
DLU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
HIILFDFH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
$FFHVVRLUHVHQRSWLRQ )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$$ ࡱ *ULOOHGHYHQWLODWLRQpPDLOOpHODYDEOH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
0RGXOHDGDSWDWHXU ࡱ+7 DXODYHYDLVVHOOH &RQFHUQDQWOHVDXWUHVPDWpULDX[
SRXUFRQWDFWHXUGHIHQrWUH &RXGHGHUDFFRUGHPHQWSRXU YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
$$ ࡱ pYDFXDWLRQGHO
DLUOLYUpGHVpULH GHWUDYDLO
'pIOHFWHXUG
DLUSRXU ࡱ+7 =RQHHQFDVGHGpERUGHPHQWFDSDFLWp /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
LQVWDOODWLRQ9/jF{WpG
DSSDUHLOV PO QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
GHFXLVVRQJD] &RQWU{OHGHODYHQWLODWLRQEDVpVXUOH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&RPELQDEOHDYHF WDEOHGHFXLVVRQFRPSDWLEOH SDUOHGHVVRXV
9,[ /DODUJHXUGHODMRQFWLRQGpSHQGGH
9*[ ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
9*[ SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW GpFRXSHGXSODQGHWUDYDLO
93[[ YLDXQFkEOH/$1UHFRPPDQGpRX 6LOHFRQGXLWG
XQHKRWWHHQPRGH
95[[ VDQVILOYLD:L)L G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
GHVVHUYLFHV+RPH&RQQHFWGDQVOH ODKRWWHGRLWrWUHSUpYXDYHFXQH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH IRQFWLRQGHVpFXULWpDGDSWpH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV 0HUFLGHFRQVXOWHUOHVGRQQpHV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU G
LQVWDOODWLRQ
ZZZKRPHFRQQHFWFRP
&RQILJXUDWLRQVUHFRPPDQGpHVSRXU
&RQVRPPDWLRQV O
LQVWDOODWLRQGHVDpUDWHXUVGHSODQGH
/HVYDOHXUVGHFRQVRPPDWLRQ WUDYDLODYHFOHFDLVVRQPRWHXUHWOHV
FRUUHVSRQGHQWjODFRQILJXUDWLRQDYHF DFFHVVRLUHVGHUDFFRUGHPHQWHQ
OHPRWHXU$5 SDJHVj
&ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j' 9DOHXUVGHUDFFRUGHPHQW
&RQVRPPDWLRQpQHUJpWLTXHN:KDQ &RQVRPPDWLRQWRWDOH:
&ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$ &kEOHGHUDFFRUGHPHQWP
&ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH% DYHFSULVH
1LYHDXVRQRUHPLQ'%PD['% 3UpYRLUXQFkEOH/$1
SRVLWLRQQRUPDOH &RQVRPPDWLRQ6WDQGE\'LVSOD\
pWHLQW:
3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP ĂĂĂĂĂĂĂĂ
0RQWDJHGXERXWRQGHFRPPDQGHLQVWDOODWLRQFODVVLTXH 0RQWDJHGXERXWRQGHFRPPDQGHLQVWDOODWLRQjIOHXUGHSODQ
0HVXUHVHQPP 0HVXUHVHQPP
$FFHVVRLUHVG
LQVWDOODWLRQ
$'3LqFHGHFRQQH[LRQIOH[LEOHSRXU $'3LqFHGHFRQQH[LRQ9/ 9/SRXUH[WHQVLRQ
9/ 9/PPSODW DYHFJDLQHSODWHPPSRXUSODQGHWUDYDLOWUqVSURIRQG
0HVXUHVHQPP
+RWWHGHSODQGHWUDYDLO6pULH &RPELQDEOHDYHF ,QVWDOODWLRQDYHFGHVDSSDUHLOV9DULRGH
$/ 7RXVOHV9DULRGHFXLVVRQ6pULH FXLVVRQXQLTXHPHQWSRVVLEOHVDQV
7RXWHVOHV7DEOHVGHFXLVVRQ6pULH FRXYHUFOHV
² +RWWHWpOHVFRSLTXHGHSODQGH 7DEOHVGHFXLVVRQ6pULH 3XLVVDQFHPD[LPDOHGHVWDEOHVGH
WUDYDLOTXLjO
DUUrWVHGLVVLPXOH &,[[&([[ FXLVVRQN:
HQWLqUHPHQWGDQVOHSODQGHWUDYDLO /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
² 6HFRPELQHSDUIDLWHPHQWDYHFOHV %RQjVDYRLU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9DULRGHOD6pULH /DODUJHXUGHODKRWWHGRLWrWUHDX RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
² (FODLUDJH/('EODQFFKDXGDYHF PRLQVpJDOHjFHOOHGHO
DSSDUHLOOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$/ ࡱ YDULDWHXUG
LQWHQVLWpSRXUXQ DSSDUHLOVGHFXLVVRQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
,QR[ ࡱ+7 pFODLUDJHRSWLPDO &RQFHUQDQWOHVDXWUHVPDWpULDX[
/DUJHXUFP GXSODQGHFXLVVRQ &DLVVRQVPRWHXUVFRUUHVSRQGDQWV YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
8QLTXHPHQWHQPRGHUHF\FODJH ² &DGUHHQLQR[PDVVLIG
XQH YRLUSDJHV GHWUDYDLO
6DQVPRWHXU pSDLVVHXUGHPPWUDYDLOOpDYHF /
LQWHUYDOOHGHSODQGHWUDYDLOUHVWDQW
$/ ࡱ XQHJUDQGHSUpFLVLRQ PLQPPHQWUHOHVGpFRXSHVGRLW
,QR[ ࡱ+7 ² 3HXWrWUHLQVWDOOpHVXUOHSODQGH rWUHUHQIRUFp,OHVWFRQVHLOOpG
XWLOLVHU
/DUJHXUFP WUDYDLODYHFFDGUHDSSDUHQWRXj ODWUDYHUVH$$
(YDFXDWLRQHWUHF\FODJH IOHXUGHSODQ 3RVVLELOLWpG
LQVWDOOHUXQIRXU
6DQVPRWHXU ² 6DQVPRWHXUFRPELQDEOHDYHFOHV $5 DXWRYHQWLOpVRXVSODQORUVTXHOD
FDLVVRQVPRWHXU%/'&*DJJHQDX FRQILJXUDWLRQGXPHXEOHOHSHUPHW
$FFHVVRLUHVG
LQVWDOODWLRQREOLJDWRLUHV 3RXUPLQLPLVHUOHVIXPpHVORUVGHV
$' ࡱ 3HUIRUPDQFHV FXLVVRQVJULOOpHVHWGHVSRrOpHVVH
3LqFHGHFRQQH[LRQ ࡱ+7 /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW UpIpUHUDX[PDQXHOVG
XWLOLVDWLRQGHV
SRXUWX\DX[$OXIOH[F\OLQGULTXHVGH GXPRWHXUVpSDUpDVVRFLp 9593
PP (QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
3RXU$/jO
DYDQWHWjO
DUULqUH &DUDFWpULVWLTXHV PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
$' ࡱ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ $5 FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
3LqFHGHFRQQH[LRQ ࡱ+7 LQWHQVLYH RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
SRXUJDLQHVSODWHVPPDYHF )RQFWLRQG
DVSLUDWLRQLQWHUPLWWHQWH ODKRWWHGRLWrWUHSUpYXDYHFXQH
ODPHOOHVGHJXLGDJH PLQ IRQFWLRQGHVpFXULWpDGDSWpH
3RXU$/HQGHVVRXV )RQFWLRQWHPSRULVDWLRQPLQ
$' ࡱ 7pPRLQGHVDWXUDWLRQGXILOWUHj &RQVHLOVG
LQVWDOODWLRQ
3LqFHGHFRQQH[LRQ ࡱ+7 JUDLVVH FRPSOpPHQWDLUHVSDJH
SRXUJDLQHVSODWHVPP )LOWUHVjJUDLVVHPpWDOOLTXHVODYDEOHV $5
3RXU$/jO
DYDQWHWjO
DUULqUH DXODYHYDLVVHOOH 9DOHXUVGHUDFFRUGHPHQW
(FODLUDJH/('EODQFFKDXG. 3XLVVDQFHWRWDOH:
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ DYHFYDULDWHXUG
LQWHQVLWpHQFRQWLQX &kEOHGHUDFFRUGHPHQWPDYHF
$$ ࡱ 3XLVVDQFHGHVDPSRXOHV[: SULVH
*ULOOHGHYHQWLODWLRQ ࡱ+7 ,QWHQVLWpOXPLQHXVHO[ &kEOHUpVHDXP
SRXULQVWDOODWLRQHQUHF\FODJH &DFKHVGHVRUWLHG
DLUpFKDQJHDEOHV $5
,QR[FPLQFOXVOHVpOpPHQWVGH (OpPHQWVGHUDFFRUGHPHQWHQRSWLRQ
IL[DWLRQUpJODEOHHQKDXWHXU
$$ ࡱ &RQVRPPDWLRQV
%DUUHGHUHQIRUWGH ࡱ+7 /HVYDOHXUVGHFRQVRPPDWLRQ
PHXEOHSRXUKRWWHGHSODQ$/FP FRUUHVSRQGHQWjODFRQILJXUDWLRQ
5HFRPPDQGpHSRXUUHQIRUFHUOHSODQ $/DYHFOHPRWHXU$5
GHWUDYDLOHWHQUHPSODFHPHQWGX &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
FKkVVLV XQHFODVVLILFDWLRQGH$j(
$$ ࡱ &RQVRPPDWLRQpQHUJpWLTXH
%DUUHGHUHQIRUWGH ࡱ+7 N:KDQ
PHXEOHSRXUKRWWHGHSODQ$/FP &ODVVHG
HIILFDFLWpGXPRWHXU$
5HFRPPDQGpHSRXUUHQIRUFHUOHSODQ &ODVVHG
HIILFDFLWpG
pFODLUDJH(
GHWUDYDLOHWHQUHPSODFHPHQWGX &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH
FKkVVLV &
$' ࡱ 1LYHDXVRQRUHPLQPD[G%G%
&ROOHFWHXUG
DLU ࡱ+7 SRVLWLRQQRUPDOH
PPF\OLQGULTXH
[PPHQWUpHG
DLUWX\DXURQG &RQVHLOVG
LQVWDOODWLRQ
3RXUUDFFRUGHPHQWGH[$/DX[ 3RXUOHVFDLVVRQVPRWHXUVpSDUpV
PRWHXUV$5$5RX$5 FRUUHVSRQGDQWVHQPRGHpYDFXDWLRQ
$' ࡱ RXUHF\FODJHVHUpIpUHUjODSDJH
&ROOHFWHXUG
DLU ࡱ+7 5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
SRXUJDLQHVSODWHVPP FkEOHUpVHDX
[PPHQWUpHG
DLUJDLQHSODWH )L[HUOHERvWLHUpOHFWURQLTXHGHFRQWU{OH
3RXUUDFFRUGHPHQW$/YHUVOHEDV VXUODSDURLODWpUDOHGXPHXEOHEDVHW
DX[PRWHXUV$5$5 QRQVXUOHSODQFKHUEDVGXPHXEOHRX
$' ࡱ GLUHFWHPHQWVXUOHVRO
7X\DXIOH[LEOHSRXU ࡱ+7 /HVQRUPHVpQHUJpWLTXHVUHVWULFWLYHV
JDLQHSODWH39&PP HQ(XURSHQHSHUPHWWHQWSDV
3RXUOHUDFFRUGHPHQWSDUOHEDVGHOD O
LQVWDOODWLRQGHOD$/ODUJHXU
$/DXFROOHFWHXUG
DLU$' FPHQpYDFXDWLRQH[WpULHXUH
1RXVUHFRPPDQGRQVG
LQVWDOOHUOD
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ KRWWHGHSODQGHWUDYDLO$/HQ
$$ ࡱ PRGHUHF\FODJHDYHFPRWHXUV
0RGXOHDGDSWDWHXU ࡱ+7 $/LQVWDOODWLRQDYHF9DULR
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH 6pULHRX9DULR6pULHRX
DYHFPRWHXU6pULHHWPRWHXU SODQGHFXLVVRQODUJHXUPD[FP
6pULH $/LQVWDOODWLRQDYHF9DULR
GHFXLVVRQ6pULHRX9DULR6pULH
RXSODQGHFXLVVRQODUJHXUPD[
FP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
3RVLWLRQGHVUDFFRUGHPHQWV'1
Découpe et rainure
selon la table de cuisson
&RXSHWUDQVYHUVDOHGXPHXEOHSRXU$/VDQVSDURLDUULqUH
DYHF$5UDFFRUGHPHQWSDUOHEDV
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQG·DSSDUHLOV9DULR6pULHVDQV9/
LQWpJUDWLRQFODVVLTXH
/HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVPHVXUHVGHGpFRXSHSRXUOHVFRPELQDLVRQVG·DSSDUHLOV9DULR6pULHVDQV9/HQLQWpJUDWLRQFODVVLTXH
/·LQVWDOODWHXUSHXWFDOFXOHUOHVPHVXUHVGHGpFRXSHHQFRQVXOWDQWOHVSDJHVSUpFpGHQWHVDLQVLTXHOHVVFKpPDVFLGHVVRXV
!
/DUJHXUG·DSSDUHLOV
'LPHQVLRQV%
9DULRGHFXLVVRQ GH9$
PP PP
9DULRGHFXLVVRQ
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQG·DSSDUHLOV9DULR6pULHDYHF9/
LQWpJUDWLRQFODVVLTXH
/HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVPHVXUHVGHGpFRXSHSRXUOHVFRPELQDLVRQVG·DSSDUHLOV9DULR6pULHDYHF9/HQLQWpJUDWLRQFODVVLTXH
/·LQVWDOODWHXUSHXWFDOFXOHUOHVPHVXUHVGHGpFRXSHHQFRQVXOWDQWOHVSDJHVSUpFpGHQWHVDLQVLTXHOHVVFKpPDVFLGHVVRXV
!
/DUJHXUG·DSSDUHLOV 'LPHQVLRQV%
9DULRGHFXLVVRQ GH9$
PP PP
(PSODFHPHQWUHFRPPDQGpSRXU9DULRJD]
:RNHW9DULR*ULOpOHFWULTXH
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQG·DSSDUHLOV9DULR6pULHVDQV9/
LQWpJUDWLRQjIOHXUGHSODQ
/HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVPHVXUHVGHGpFRXSHSRXUOHVFRPELQDLVRQVG·DSSDUHLOV9DULR6pULHVDQV9/HQLQWpJUDWLRQjIOHXUGHSODQ
/·LQVWDOODWHXUSHXWFDOFXOHUOHVPHVXUHVGHGpFRXSHHQFRQVXOWDQWOHVSDJHVSUpFpGHQWHVDLQVLTXHOHVVFKpPDVFLGHVVRXV
%
!
%
3RXUGLPHQVLRQ$
²HQFRPELQDLVRQDYHF
XQLTXHPHQWGHV9DULRGHFXLVVRQ
DYHFFDGUHLQR[
HQFRPELQDLVRQDYHFDX
PRLQVXQ9DULRGHFXLVVRQLQGXFWLRQ
VDQVFDGUH
/DUJHXUG·DSSDUHLOV
'LPHQVLRQV% 'LPHQVLRQV% GH
9DULRGHFXLVVRQ
PP PP PP 9$
%
!
%
3RXUGLPHQVLRQ$
²HQFRPELQDLVRQDYHF
XQLTXHPHQWGHV9DULRGHFXLVVRQ
DYHFFDGUHLQR[
HQFRPELQDLVRQDYHFDX
PRLQVXQ9DULRGHFXLVVRQLQGXFWLRQ
VDQVFDGUH
/DUJHXUG·DSSDUHLOV
'LPHQVLRQV%
'LPHQVLRQV%
GH
9DULRGHFXLVVRQ
PP PP PP 9$
(PSODFHPHQWUHFRPPDQGpSRXU9DULRJD]:RN
HW9DULR*ULOpOHFWULTXH
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQVG·DSSDUHLOV9DULR6pULH&DOFXODWHXUGHODUJHXUGHGpFRXSH
Largeur totale de tous les appareils en mm (3x 380) + (2x 155) 1450 ……………………………………………
(A) Largeur totale de la découpe (en mm) 1442 +/– 1 ………………………………… +/– 1
Largeur totale de tous les appareils en mm (3x 380) + (2x 155) 1450 ……………………………………………
(A) Largeur totale de la découpe (en mm) 1444 +/– 1 ………………………………… +/– 1
(B) Largeur totale avec la rainure (en mm) 1462 + 1 ………………………………… 0/+ 1
9DULRGHFXLVVRQ
9DULRGHFXLVVRQ)OH[,QGXFWLRQ 9DULRGHFXLVVRQ)OH[,QGXFWLRQ
6pULH 6pULH
9, 9,
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV ² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp ² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH HWVpFXULVpH
=RQHVGHFXLVVRQ =RQHVGHFXLVVRQ
=RQHGHGURLWH ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ
]RQHVGHFXLVVRQ)OH[,QGXFWLRQ [FP:DYHF%RRVWHU
9, ࡱ [FP:DYHF%RRVWHU 9, ࡱ :FRPELQDEOHVHQ]RQH
%DQGHDXGH ࡱ+7 :FRPELQDEOHVHQ]RQH %DQGHDXGH ࡱ+7 [FP:DYHF%RRVWHU
FRPPDQGHQRLU [FP:DYHF%RRVWHU FRPPDQGHQRLU :
/DUJHXUFP : /DUJHXUFP
=RQHGHJDXFKH %DQGHDXGHFRPPDQGH
/HSUL[FRPSUHQG ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ /HSUL[FRPSUHQG %RXWRQVGHFRPPDQGHDYHFDQQHDX
UDFORLUjYHUUH [FP:DYHF%RRVWHU UDFORLUjYHUUH OXPLQHX[
:FRPELQDEOHVHQ]RQH %DQGHDXGHFRPPDQGHLQWpJUp
$FFHVVRLUHVG
LQVWDOODWLRQ [FP:DYHF%RRVWHU $FFHVVRLUHVG
LQVWDOODWLRQ &RQWU{OHpOHFWURQLTXHDYHFSRVLWLRQV
99 ࡱ : 99 ࡱ SRVLWLRQVGHFXLVVRQ
%DUUHWWHGHMRQFWLRQ ࡱ+7 %DUUHWWHGHMRQFWLRQ ࡱ+7
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV %DQGHDXGHFRPPDQGH HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV &DUDFWpULVWLTXHV
9DULRGHFXLVVRQGHOD6pULH %RXWRQVGHFRPPDQGHDYHFDQQHDX 9DULRGHFXLVVRQGHOD6pULH 0DUTXDJHGHV]RQHVGHFXLVVRQ
99 ࡱ OXPLQHX[ 99 ࡱ )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
%DUUHWWHGHMRQFWLRQ ࡱ+7 %DQGHDXGHFRPPDQGHLQWpJUp %DUUHWWHGHMRQFWLRQ ࡱ+7 UHFWDQJXODLUHV
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV &RQWU{OHpOHFWURQLTXHDYHFSRVLWLRQV QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV )RQFWLRQ)U\LQJ6HQVRU
9DULRGHFXLVVRQGHOD6pULH SRVLWLRQVGHFXLVVRQ 9DULRGHFXLVVRQGHOD6pULH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
)RQFWLRQ%RRVWHUSRXUOHVGHX[]RQHV
$FFHVVRLUHVHQRSWLRQ &DUDFWpULVWLTXHV $FFHVVRLUHVHQRSWLRQ GHFXLVVRQ
*3 ࡱ 0DUTXDJHGHV]RQHVGHFXLVVRQ *3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7 )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ 3RrOH)U\LQJ6HQVRU ࡱ+7 6pFXULWp
HQLQR[ UHFWDQJXODLUHV HQLQR[ ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )RQFWLRQ)U\LQJ6HQVRU 5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
GHFXLVVRQFP 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV GHFXLVVRQFP &RXSXUHGHVpFXULWp
*3 ࡱ )RQFWLRQ%RRVWHUSRXUFKDTXH]RQHGH *3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7 FXLVVRQ 3RrOH)U\LQJ6HQVRU ࡱ+7 &RQVHLOVG
LQVWDOODWLRQ
HQLQR[ HQLQR[ 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 6pFXULWp 5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH FXLVLQHjIRQGPDJQpWLTXH
GHFXLVVRQFP ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH GHFXLVVRQFP /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
*3 ࡱ 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ *3 ࡱ WUDYDLOSDUOHGHVVXV
3RrOH)U\LQJ6HQVRU ࡱ+7 &RXSXUHGHVpFXULWp 3RrOH)U\LQJ6HQVRU ࡱ+7 3RLGVGHO
DSSDUHLOHQYLUNJ
HQLQR[ HQLQR[
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &RQVHLOVG
LQVWDOODWLRQ 5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &RQVHLOVSRXUGpFRXSHVGXSODQ
GHFXLVVRQFP 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV GHFXLVVRQFP GHWUDYDLOHQSDJHVHW
GHFXLVLQHjIRQGPDJQpWLTXH
&RPELQDEOHDYHF /
DSSDUHLOV
LQWqJUHGDQVOHSODQ &RPELQDEOHDYHF &RQVHLOVG
LQVWDOODWLRQ
+RWWHVGHSODIRQG6pULHHW6pULH GHWUDYDLOSDUOHGHVVXV +RWWHVGHSODIRQG6pULHHW6pULH FRPSOpPHQWDLUHVHQSDJH
+RWWHvORWHWKRWWHPXUDOH6pULH 3RLGVGHO
DSSDUHLOHQYLUNJ +RWWHvORWHWKRWWHPXUDOH6pULH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 9DOHXUVGHUDFFRUGHPHQW
+RWWHWLURLU6pULH &RQVHLOVSRXUGpFRXSHVGXSODQ +RWWHWLURLU6pULH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
*URXSHILOWUDQW6pULH GHWUDYDLOHQSDJHVHW *URXSHILOWUDQW6pULH N:
&kEOHGHUDFFRUGHPHQWP
%RQjVDYRLU &RQVHLOVG
LQVWDOODWLRQ %RQjVDYRLU VDQVSULVH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ FRPSOpPHQWDLUHVHQSDJH /DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH 0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH$SSDUHLOV N: ODWLRQGDQVOHFKDSLWUH$SSDUHLOV
G
DVSLUDWLRQ &kEOHGHUDFFRUGHPHQWP G
DVSLUDWLRQ
VDQVSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
9DULRGHFXLVVRQ)OH[,QGXFWLRQ
6pULH
9,
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
=RQHVGHFXLVVRQ
]RQHVGHFXLVVRQ)OH[,QGXFWLRQ
೦1RXYHDX [FP:DYHF%RRVWHU
9,೦ ࡱ :FRPELQDEOHVHQ]RQH
%DQGHDXGH ࡱ+7 [FP:DYHF%RRVWHU
FRPPDQGHQRLU :
/DUJHXUFP
%DQGHDXGHFRPPDQGH
/HSUL[FRPSUHQG %RXWRQVGHFRPPDQGHDYHFDQQHDX
UDFORLUjYHUUH OXPLQHX[
%DQGHDXGHFRPPDQGHLQWpJUp
$FFHVVRLUHVG
LQVWDOODWLRQ &RQWU{OHpOHFWURQLTXHDYHFSRVLWLRQV
99 ࡱ SRVLWLRQVGHFXLVVRQ
%DUUHWWHGHMRQFWLRQ ࡱ+7
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV &DUDFWpULVWLTXHV
9DULRGHFXLVVRQGHOD6pULH 0DUTXDJHGHV]RQHVGHFXLVVRQ
99 ࡱ )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
%DUUHWWHGHMRQFWLRQ ࡱ+7 UHFWDQJXODLUHV
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV )RQFWLRQ)U\LQJ6HQVRU
9DULRGHFXLVVRQGHOD6pULH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
)RQFWLRQ%RRVWHUSRXUOHVGHX[]RQHV
$FFHVVRLUHVHQRSWLRQ GHFXLVVRQ
*3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7 6pFXULWp
HQLQR[ ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
GHFXLVVRQFP &RXSXUHGHVpFXULWp
*3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7 &RQVHLOVG
LQVWDOODWLRQ
HQLQR[ 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH GHFXLVLQHjIRQGPDJQpWLTXH
GHFXLVVRQFP /
DSSDUHLOV
LQWqJUHGDQVOHSODQ
*3 ࡱ GHWUDYDLOSDUOHGHVVXV
3RrOH)U\LQJ6HQVRU ࡱ+7 3RLGVGHO
DSSDUHLOHQYLUNJ
HQLQR[
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &RQVHLOVSRXUGpFRXSHVGXSODQ
GHFXLVVRQFP GHWUDYDLOHQSDJHVHW
9' ࡱ
&RXYHUFOHQRLU ࡱ+7 &RQVHLOVG
LQVWDOODWLRQ
SRXU9DULRGHFXLVVRQ6pULH FRPSOpPHQWDLUHVHQSDJH
&RPELQDEOHDYHF 9DOHXUVGHUDFFRUGHPHQW
+RWWHVGHSODIRQG6pULHHW6pULH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHvORWHWKRWWHPXUDOH6pULH N:
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH &kEOHGHUDFFRUGHPHQWP
+RWWHWLURLU6pULH VDQVSULVH
*URXSHILOWUDQW6pULH
%RQjVDYRLU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH$SSDUHLOV
G
DVSLUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRJD]6pULH
9*
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHDYHFUpJODJHSUpFLV
HWUHSURGXFWLEOHGHODWDLOOHGHOD
IODPPHVXUQLYHDX[GHSXLVVDQFH
² JULOOHVHQIRQWHVXUIDFHSODQH
9*) ࡱ IDFLOLWHQWOHGpSODFHPHQWGHV
%DQGHDXGH ࡱ+7 FDVVHUROHVHQWRXWHVpFXULWp
FRPPDQGHQRLU ² N:VXUEUOHXUV
/DUJHXUFP
*D]EXWDQHSURSDQHPEDU =RQHVGHFXLVVRQ
9* ࡱ EUOHXUVSXLVVDQWV::
%DQGHDXGH ࡱ+7 SRXUGHVFDVVHUROHVMXVTX
jFP
FRPPDQGHQRLU EUOHXUV::SRXUGHV
/DUJHXUFP FDVVHUROHVMXVTX
jFP
*D]QDWXUHOPEDU
%DQGHDXGHFRPPDQGH
$FFHVVRLUHVG
LQVWDOODWLRQ %RXWRQVGHFRPPDQGHDYHFDQQHDX
99 ࡱ OXPLQHX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 %DQGHDXGHFRPPDQGHLQWpJUp
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV $OOXPDJHXQHPDLQ
9DULRGHFXLVVRQGHOD6pULH $OOXPDJHpOHFWURQLTXH
99 ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7 &DUDFWpULVWLTXHV
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV JULOOHVHQIRQWHVXUIDFHSODQH
9DULRGHFXLVVRQGHOD6pULH KDXWHVWDELOLWp
&KDSHDX[GHEUOHXUVpPDLOOpV
&RPELQDEOHDYHF
+RWWHVGHSODIRQG6pULHHW6pULH 6pFXULWp
+RWWHvORWHWKRWWHPXUDOH6pULH 6pFXULWpWKHUPRFRXSOH
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
+RWWHWLURLU6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
*URXSHILOWUDQW6pULH
&RQVHLOVG
LQVWDOODWLRQ
%RQjVDYRLU 9*)
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ ,QMHFWHXUVVSpFLDX[SRXUJD]QDWXUHO
GHFXLVVRQRXDXPLQLPXPGHODPrPH PEDUSHXYHQWrWUHFRPPDQGpVDX
ODUJHXUTXHOHSODQGHFXLVVRQ VHUYLFHGHVSLqFHVGpWDFKpHV
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH$SSDUHLOV 9*
G
DVSLUDWLRQ ,QMHFWHXUVVSpFLDX[SRXUJD]EXWDQH
SURSDQHPEDUSHXYHQWrWUH
FRPPDQGpVDXVHUYLFHGHVSLqFHV
GpWDFKpHV
3DVGHSODQFKHULQWHUPpGLDLUHQpFHVVDLUH
/
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
WUDYDLOSDUOHGHVVXV
'LVWDQFHODWpUDOHPLQLPDOHGH
PPDYHFOHVPHXEOHVODWpUDX[
SRXUSURWHFWLRQFRQWUHFKDXIIHRX
SUpYRLUXQHLVRODWLRQVXSSOpPHQWDLUH
/RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
/DGLVWDQFHPLQLPDOHHQWUHODWDEOH
GHFXLVVRQJD]GHSOXVGHN:HW
ODKRWWHGRLWrWUHGHFP
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVSRXUGpFRXSHVGXSODQ
GHWUDYDLOHQSDJHVHW
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
WRWDOH::
&kEOHGHUDFFRUGHPHQWPDYHFSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
9DULRJD]:RN6pULH 9DOHXUVGHUDFFRUGHPHQW
9* 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
JD]N:
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV 3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
GHFXLVVRQGHOD6pULHHQ WRWDOH::
SDUIDLWHKDUPRQLH &kEOHGHUDFFRUGHPHQWP
² %DQGHDXGHFRPPDQGHLQWpJUp DYHFSULVH
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHDYHFUpJODJHSUpFLV
HWUHSURGXFWLEOHGHODWDLOOHGHOD
IODPPHVXUQLYHDX[GHSXLVVDQFH
² %UOHXUPXOWLFRXURQQHVHQODLWRQ
9* ) ࡱ UREXVWHHWUpVLVWDQWDX[KDXWHV
%DQGHDXGH ࡱ+7 WHPSpUDWXUHVFRPPHGDQVOHV
FRPPDQGHQRLU FXLVLQHVSURIHVVLRQQHOOHV
/DUJHXUFP ² 3XLVVDQFHMXVTX
jN:
*D]EXWDQHSURSDQHPEDU
:RNN: =RQHVGHFXLVVRQ
9* ࡱ 9*)
%DQGHDXGH ࡱ+7 EUOHXU:RNPXOWLFRXURQQHV
FRPPDQGHQRLU ::SRXUFDVVHUROHV
/DUJHXUFP MXVTX
jPD[FP
*D]QDWXUHOPEDU
:RNN: 9*
EUOHXU:RNPXOWLFRXURQQHV
/HSUL[FRPSUHQG ::SRXUFDVVHUROHV
DQQHDXSRXU:2. MXVTX
jPD[FP
$FFHVVRLUHVG
LQVWDOODWLRQ %DQGHDXGHFRPPDQGH
99 ࡱ %RXWRQGHFRPPDQGHDYHFDQQHDX
%DUUHWWHGHMRQFWLRQ ࡱ+7 OXPLQHX[
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV %DQGHDXGHFRPPDQGHLQWpJUp
9DULRGHFXLVVRQGHOD6pULH $OOXPDJHXQHPDLQ
99 ࡱ $OOXPDJHpOHFWURQLTXH
%DUUHWWHGHMRQFWLRQ ࡱ+7 3RXUIHUPHUOHFRXYHUFOHLOVXIILWGH
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV UHWRXUQHUODJULOOHHQIRQWH
9DULRGHFXLVVRQGHOD6pULH
&DUDFWpULVWLTXHV
$FFHVVRLUHVHQRSWLRQ *UDQGHJULOOHHQIRQWH
9' ࡱ %UOHXUVHQODLWRQ
&RXYHUFOHQRLU ࡱ+7
SRXU9DULRGHFXLVVRQ6pULH 6pFXULWp
:3 ࡱ 6pFXULWpWKHUPRFRXSOH
3RrOH:RNHQLQR[ ࡱ+7 ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
PXOWLFRXFKHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH
FPOLWUHVKDXWHXUFP &RQVHLOVG
LQVWDOODWLRQ
9*)
&RPELQDEOHDYHF ,QMHFWHXUVVSpFLDX[SRXUJD]QDWXUHO
+RWWHVGHSODIRQG6pULHHW6pULH PEDUSHXYHQWrWUHFRPPDQGpVDX
+RWWHvORWHWKRWWHPXUDOH6pULH VHUYLFHGHVSLqFHVGpWDFKpHV
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH
+RWWHWLURLU6pULH 9*
*URXSHILOWUDQW6pULH ,QMHFWHXUVVSpFLDX[SRXUJD]EXWDQH
SURSDQHPEDUSHXYHQWrWUH
%RQjVDYRLU FRPPDQGpVDXVHUYLFHGHVSLqFHV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ GpWDFKpHV
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO WUDYDLOSDUOHGHVVXV
ODWLRQGDQVOHFKDSLWUH 'LVWDQFHPLQLPDOHGHPPDYHF
$SSDUHLOVG
DVSLUDWLRQ OHPXURXOHVPHXEOHVDGMDFHQWV
RXSUpYRLUXQHLVRODWLRQWKHUPLTXH
VXSSOpPHQWDLUH
/RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
/DGLVWDQFHPLQLPDOHHQWUHODWDEOH
GHFXLVVRQJD]GHSOXVGHN:
HWODKRWWHGRLWrWUHGHFP
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVSRXUGpFRXSHVGXSODQ
GHWUDYDLOHQSDJHVHW
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRJD]:RN6pULH
9*
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHDYHFUpJODJHSUpFLV
HWUHSURGXFWLEOHGHODWDLOOHGHOD
IODPPHVXUQLYHDX[GHSXLVVDQFH
² JULOOHHQIRQWHVXUIDFHSODQH
9* ) ࡱ IDFLOLWHOHGpSODFHPHQWGHV
%DQGHDXGH ࡱ+7 FDVVHUROHVHQWRXWHVpFXULWp
FRPPDQGHQRLU
/DUJHXUFP =RQHVGHFXLVVRQ
*D]EXWDQHSURSDQHPEDU EUOHXUWUqVSXLVVDQW:
9* ࡱ :SRXUGHVFDVVHUROHVMXVTX
j
%DQGHDXGH ࡱ+7 FP
FRPPDQGHQRLU EUOHXU::SRXUGHV
/DUJHXUFP FDVVHUROHVMXVTX
jFP
*D]QDWXUHOPEDU
%DQGHDXGHFRPPDQGH
$FFHVVRLUHVG
LQVWDOODWLRQ %RXWRQVGHFRPPDQGHDYHFDQQHDX
99 ࡱ OXPLQHX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 %DQGHDXGHFRPPDQGHLQWpJUp
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV $OOXPDJHXQHPDLQ
9DULRGHFXLVVRQGHOD6pULH $OOXPDJHpOHFWURQLTXH
99 ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7 &DUDFWpULVWLTXHV
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV *ULOOHHQIRQWHKDXWHVWDELOLWp
9DULRGHFXLVVRQGHOD6pULH &KDSHDX[GHEUOHXUVpPDLOOpV
$FFHVVRLUHVHQRSWLRQ 6pFXULWp
9' ࡱ 6pFXULWpWKHUPRFRXSOH
&RXYHUFOHQRLU ࡱ+7 ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
SRXU9DULRGHFXLVVRQ6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
&RPELQDEOHDYHF &RQVHLOVG
LQVWDOODWLRQ
+RWWHVGHSODIRQG6pULHHW6pULH 9*)
+RWWHvORWHWKRWWHPXUDOH6pULH ,QMHFWHXUVVSpFLDX[SRXUJD]QDWXUHO
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH PEDUSHXYHQWrWUHFRPPDQGpVDX
+RWWHWLURLU6pULH VHUYLFHGHVSLqFHVGpWDFKpHV
*URXSHILOWUDQW6pULH
9*
%RQjVDYRLU ,QMHFWHXUVVSpFLDX[SRXUJD]EXWDQH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ SURSDQHPEDUSHXYHQWrWUH
GHFXLVVRQRXDXPLQLPXPGHODPrPH FRPPDQGpVDXVHUYLFHGHVSLqFHV
ODUJHXUTXHOHSODQGHFXLVVRQ GpWDFKpHV
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
$SSDUHLOVG
DVSLUDWLRQ WUDYDLOSDUOHGHVVXV
'LVWDQFHPLQLPDOHGHPPDYHF
OHPXURXOHVPHXEOHVDGMDFHQWV
RXSUpYRLUXQHLVRODWLRQWKHUPLTXH
VXSSOpPHQWDLUH
/RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
/DGLVWDQFHPLQLPDOHHQWUHODWDEOH
GHFXLVVRQJD]GHSOXVGHN:
HWODKRWWHGRLWrWUHGHFP
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVSRXUGpFRXSHVGXSODQ
GHWUDYDLOHQSDJHVHW
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
WRWDOH::
&kEOHGHUDFFRUGHPHQWP
DYHFSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
9DULR7HSSDQ<DNL6pULH
93
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² &XLVVRQGLUHFWHPHQWVXUODVXUIDFH
HQPpWDOVDQVUpFLSLHQW
² &RQWU{OHH[DFWGHODWHPSpUDWXUH
MXVTX
j&
² 3RVLWLRQPDLQWLHQDXFKDXG
93 ࡱ
%DQGHDXGH ࡱ+7 =RQHVGHFXLVVRQ
FRPPDQGHQRLU 6XUIDFHXWLOHGHFPò
/DUJHXUFP
%DQGHDXGHFRPPDQGH
/HSUL[FRPSUHQG %RXWRQGHFRPPDQGHDYHFDQQHDX
VSDWXOH OXPLQHX[
%DQGHDXGHFRPPDQGHLQWpJUp
$FFHVVRLUHVG
LQVWDOODWLRQ &RQWU{OHpOHFWURQLTXHGHOD
99 ࡱ WHPSpUDWXUHGHj&
%DUUHWWHGHMRQFWLRQ ࡱ+7
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV &DUDFWpULVWLTXHV
9DULRGHFXLVVRQGHOD6pULH 5pVLVWDQFHGH:
99 ࡱ 3RVLWLRQPDLQWLHQDXFKDXG
%DUUHWWHGHMRQFWLRQ ࡱ+7 3RVLWLRQQHWWR\DJH
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV &DGUHLQR[VRXGpVDQVMRLQWDSSDUHQW
9DULRGHFXLVVRQGHOD6pULH jODVXUIDFHGHFXLVVRQHQLQR[
PXOWLFRXFKHV
$FFHVVRLUHVHQRSWLRQ
9' ࡱ 6pFXULWp
&RXYHUFOHQRLU ࡱ+7 7pPRLQOXPLQHX[GHSUpFKDXIIDJHHW
SRXU9DULRGHFXLVVRQ6pULH GHFKDOHXUUpVLGXHOOH
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
&RPELQDEOHDYHF &RXSXUHGHVpFXULWp
+RWWHVGHSODIRQG6pULHHW6pULH
+RWWHvORWHWKRWWHPXUDOH6pULH &RQVHLOVG
LQVWDOODWLRQ
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH /DGLVWDQFHHQWUHODVXUIDFHGXSODQGH
+RWWHWLURLU6pULH WUDYDLOHWOHSODQFKHULQWHUPpGLDLUHGRLW
*URXSHILOWUDQW6pULH rWUHG
DXPLQLPXPPP
/
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
%RQjVDYRLU WUDYDLOSDUOHGHVVXV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 3UpYRLUXQHGLVWDQFHODWpUDOHPLQLPDOH
GHFXLVVRQRXDXPLQLPXPGHODPrPH GHPPHQWUHO
DSSDUHLOHWOHVPHXEOHV
ODUJHXUTXHOHSODQGHFXLVVRQ RXSUpYRLUXQHLVRODWLRQVXSSOpPHQWDLUH
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO 3UpYRLUXQSODQFKHULQWHUPpGLDLUHTXL
ODWLRQGDQVOHFKDSLWUH DSUqVOHPRQWDJHQHSRXUUDrWUHUHWLUp
$SSDUHLOVG
DVSLUDWLRQ TX
DYHFGHVRXWLOVDGDSWpVSRXUJDUDQWLUOD
VpFXULWpHWpYLWHUOHVFRQWDFWVDFFLGHQWHOV
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVSRXUGpFRXSHVGXSODQ
GHWUDYDLOHQSDJHVHW
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
&kEOHGHUDFFRUGHPHQWP
VDQVSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
*ULOpOHFWULTXH9DULR6pULH
95
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² ]RQHVjUpJODJHVpSDUp
² *ULOOHHQIRQWHSLHUUHVGHODYH
%DQGHDXGHFRPPDQGH
%RXWRQVGHFRPPDQGHDYHFDQQHDX
95 ࡱ OXPLQHX[
%DQGHDXGH ࡱ+7 %DQGHDXGHFRPPDQGHLQWpJUp
FRPPDQGHQRLU SRVLWLRQVGHFXLVVRQ
/DUJHXUFP
&DUDFWpULVWLTXHV
/HSUL[FRPSUHQG UpVLVWDQFHVUHOHYDEOHVUpJODEOHV
EDFUpFXSpUDWHXUGHJUDLVVH VpSDUpPHQW:
JULOOHHQIRQWH )RQFWLRQ-RQFWLRQGHVGHX[]RQHV
SLHUUHVGHODYH GHFXLVVRQ
EURVVHGHQHWWR\DJH *ULOOHHQIRQWH
&XYHHQLQR[DYHFSLHUUHVGHODYH
$FFHVVRLUHVG
LQVWDOODWLRQ HWUHFXHLOOHJUDLVVHODYDEOHDX
99 ࡱ ODYHYDLVVHOOH
%DUUHWWHGHMRQFWLRQ ࡱ+7
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV 6pFXULWp
9DULRGHFXLVVRQGHOD6pULH 7pPRLQOXPLQHX[GHSUpFKDXIIDJHHW
99 ࡱ GHFKDOHXUUpVLGXHOOH
%DUUHWWHGHMRQFWLRQ ࡱ+7 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV &RXSXUHGHVpFXULWp
9DULRGHFXLVVRQGHOD6pULH
&RQVHLOVG
LQVWDOODWLRQ
$FFHVVRLUHVHQRSWLRQ /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
/9 ࡱ WUDYDLOSDUOHGHVVXV
3LHUUHVGHODYHGH ࡱ+7 3UpYRLUXQHGLVWDQFHODWpUDOHPLQLPDOH
UHPSODFHPHQW GHPPHQWUHO
DSSDUHLOHWOHV
9' ࡱ PHXEOHVRXSUpYRLUXQHLVRODWLRQ
&RXYHUFOHQRLU ࡱ+7 VXSSOpPHQWDLUH
SRXU9DULRGHFXLVVRQ6pULH 3RLGVGHO
DSSDUHLOHQYLUNJ
&RPELQDEOHDYHF &RQVHLOVSRXUGpFRXSHVGXSODQGH
+RWWHGHSODIRQG6pULH WUDYDLOHQSDJHVHW
+RWWHGHSODIRQG$&
+RWWHvORWHWKRWWHPXUDOH6pULH 9DOHXUVGHUDFFRUGHPHQW
9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHWLURLU6pULH N:
*URXSHILOWUDQW6pULH &kEOHGHUDFFRUGHPHQWP
VDQVSULVH
%RQjVDYRLU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO
ODWLRQGDQVOHFKDSLWUH$SSDUHLOV
G
DVSLUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
9DULRGHFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQG·DSSDUHLOV9DULR6pULHVDQV9/
LQWpJUDWLRQFODVVLTXH
/HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVPHVXUHVGHGpFRXSHSRXUOHVFRPELQDLVRQVG·DSSDUHLOV9DULR6pULHVDQV9/HQLQWpJUDWLRQFODVVLTXH
/·LQVWDOODWHXUSHXWFDOFXOHUOHVPHVXUHVGHGpFRXSHHQFRQVXOWDQWOHVSDJHVSUpFpGHQWHVDLQVLTXHOHVVFKpPDVFLGHVVRXV
!
/DUJHXUG·DSSDUHLOV
'LPHQVLRQV%
GH99
9DULRGHFXLVVRQ
PP PP 99
9DULRGHFXLVVRQ
6FKpPDVG·HQFDVWUHPHQWSRXUFRPELQDLVRQG·DSSDUHLOV9DULR6pULHDYHF9/
LQWpJUDWLRQFODVVLTXH
/HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVPHVXUHVGHGpFRXSHSRXUOHVFRPELQDLVRQVG·DSSDUHLOV9DULR6pULHDYHF9/HQLQWpJUDWLRQFODVVLTXH
/·LQVWDOODWHXUSHXWFDOFXOHUOHVPHVXUHVGHGpFRXSHHQFRQVXOWDQWOHVSDJHVSUpFpGHQWHVDLQVLTXHOHVVFKpPDVFLGHVVRXV
!
/DUJHXUG·DSSDUHLOV
'LPHQVLRQV%
GH99
9DULRGHFXLVVRQ
PP PP 99
(PSODFHPHQWVUHFRPPDQGpVSRXU9DULR:RNJD]
HW9DULR*ULOpOHFWULTXH
$FFHVVRLUHVSRXUDSSDUHLOV9DULR6pULH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ࡱ $' ࡱ
'pIOHFWHXU ࡱ+7 3LqFHGHFRQQH[LRQ ࡱ+7
SRXULQVWDOODWLRQ9/DYHFDSSDUHLO IOH[LEOHSRXU9/HW9/
JD] PPSODW
/9 ࡱ
3LHUUHVGHODYH ࡱ+7
GHUHPSODFHPHQWSRXU95
9$ࡱ
&RXYHUFOH ࡱ+7
HQLQR[DYHFEDUUHWWHGHPRQWDJH
:3 ࡱ
3RrOH:RN ࡱ+7
DYHFSRLJQpHHWIRQGDUURQGL¡FP
KFPFRQWHQDQFHO
&RPSDWLEOHDYHFEUOHXUV:RNJD] $' ࡱ
HW9, 3LqFHGHFRQQH[LRQ ࡱ+7
SRXU9/HW9/SRXUH[WHQVLRQ
DYHFJDLQHSODWHSRXUSODQ
:= ࡱ GHWUDYDLOWUqVSURIRQG
$FFHVVRLUH ࡱ+7
DGDSWDWHXUSRXUSRVHUOH
:3VXUOH9DULR
8QLTXHPHQWSRXU9,
9$ ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
SRXULQVWDOODWLRQjIOHXUGHSODQGH
SOXVLHXUVDSSDUHLOV9DULR6pULH
9$ ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR
6pULH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOV9DULR6pULH 9DULRGHFXLVVRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
/6 ࡱ $' ࡱ
'pIOHFWHXUSRXU9/ ࡱ+7 3LqFHGHFRQQH[LRQ ࡱ+7
VLLQVWDOODWLRQjF{WpG
XQDSSDUHLOJD] IOH[LEOHSRXU9/HW9/
PPSODW
/9 ࡱ
3LHUUHVGHODYH ࡱ+7
GHUHPSODFHPHQWSRXU95
9' ࡱ
&RXYHUFOHQRLU ࡱ+7
SRXU9DULR6pULH
99 ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV
DSSDUHLOV9DULRGHFXLVVRQ6pULH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
9DULRLQGXFWLRQ6pULH
7\SHG
DSSDUHLO 9DULRGHFXLVVRQ 9DULRGHFXLVVRQ
,QGXFWLRQ)XOO=RQH ,QGXFWLRQ)XOO=RQH
6DQVFDGUHSRXULQVWDOODWLRQjYHXUGHSODQ &; &;
&DGUHLQR[pSDLVVHXUPPLQVWDOODWLRQFODVVLTXHRXjYHXUGHSODQ &; &;
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQV
(FUDQVHQVLWLI7)7&RPPDQGH7ZLVW3DG7RXFKHVVHQVLWLYHV ²² ²²
'LVSOD\ELFRORUHEODQFRUDQJH ² ²
%RXWRQVGHFRPPDQGHHQIDoDGH%DQGHDXGHFRPPDQGHLQWpJUp ²² ²²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQRXQRPEUHGHFDVVHUROHVPD[
=RQHLQGXFWLRQ)XOO=RQH
=RQH)OH[LQGXFWLRQ[FP:DYHFERRVWHU:
² ²
H[WHQVLEOH[FP:DYHFERRVWHU:
=RQH)OH[LQGXFWLRQ[FP:DYHFERRVWHU:
² ²
H[WHQVLEOH[FP:DYHFERRVWHU:
([WHQVLRQDXWRPDWLTXHFPFP:DYHFERRVWHU: ² ²
=RQHLQGXFWLRQ
FP:DYHFERRVWHU:
² ²
FP:DYHFERRVWHU:
FP:DYHFERRVWHU:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
)RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQUHFWDQJXODLUHV ² ²
)RQFWLRQ6HQVRUGHFXLVVRQ)RQFWLRQ)U\LQJ6HQVRU ² ²
1RPEUHVGHIRQFWLRQV)U\LQJ6HQVRU ² ²
)RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
)RQFWLRQ%RRVWHUSRXUFDVVHUROHVSRrOHV
)RQFWLRQ0DLQWLHQDXFKDXG
1RPEUHGHPLQXWHULHVFRXSHFLUFXLW
0LQXWHULHLQGpSHQGDQWH
&KURQRPqWUH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQW&RXSXUHGHVpFXULWp1HWWR\DJHGHO
pFUDQjWRXWPRPHQW
0HQXG
RSWLRQV
&RQWU{OHGHODKRWWH ò ò
0RGXOH:L)LLQWpJUp+RPH&RQQHFW ó ó
$FFHVVRLUHV
7HSSDQ<DNLFRPSRVpGHSOXVLHXUVFRXFKHVGHPpWDO*1
*1ñ *1ñ
SRXUWDEOHLQGXFWLRQ)XOO=RQH
7HSSDQ<DNLFRPSRVpGHSOXVLHXUVFRXFKHVGHPpWDO*1
*1ñ *1ñ
SRXUWDEOHLQGXFWLRQ)XOO=RQH
3RrOH)U\LQJ6HQVRUFP ² ²
3RrOH)U\LQJ6HQVRUFP ² ²
3RrOH)U\LQJ6HQVRUFP ² ²
3RrOH)U\LQJ6HQVRUFP ² ²
6HQVRUGHFXLVVRQ &$ñ &$ñ
$GDSWDWHXUSRXUSRrOHV:RN ² ²
3RrOH:RN ² ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
ò&RPELQDEOHDYHFXQHKRWWHVSpFL=TXH
ó'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
9DULRGHFXLVVRQ
² ² ² ² ²
² ²
² ² ² ²
² ² ²
² ² ²
² ² ² ² ²
² ² ² ² ²
² ² ² ² ²
² ² ² ² ²
² ² ² ² ²
²² ²² ²² ²² ²²
ò ò ò ò ò
ó ó ó ó ó
² ² ² ² ²
² ² ² ² ²
*3ñ *3ñ *3ñ *3ñ *3ñ
*3ñ *3ñ *3ñ *3ñ *3ñ
*3ñ *3ñ *3ñ *3ñ *3ñ
*3ñ *3ñ *3ñ *3ñ ²
² ² ² ² ²
:=ñ ² ² :=ñ ²
:3ñ ² ² :3ñ ²
7\SHG
DSSDUHLO 9DULRGHFXLVVRQ 9DULRGHFXLVVRQ 9DULRGHFXLVVRQ
)OH[,QGXFWLRQ )OH[,QGXFWLRQ )OH[,QGXFWLRQ
9, 9, 9,
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQVRXGp ²² ²² ²²
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
(FUDQVHQVLWLI7)7&RPPDQGH7ZLVW3DG7RXFKHVVHQVLWLYHV ²²² ²²² ²²²
'LVSOD\ELFRORUHEODQFRUDQJH ² ² ²
%RXWRQVGHFRPPDQGHHQIDoDGH%DQGHDXGHFRPPDQGHLQWpJUp ² ² ²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQRXQRPEUHGHFDVVHUROHVPD[
=RQHLQGXFWLRQ)XOO=RQH ² ² ²
=RQH)OH[LQGXFWLRQ[FP:DYHFERRVWHU:
² ²
H[WHQVLEOH[FP:DYHFERRVWHU:
=RQH)OH[LQGXFWLRQ[FP:DYHFERRVWHU:
² ²
H[WHQVLEOH[FP:DYHFERRVWHU:
=RQH)OH[LQGXFWLRQ[FP:DYHFERRVWHU:
² ²
H[WHQVLEOH[FP:DYHFERRVWHU:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
)RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQUHFWDQJXODLUHV
)RQFWLRQ6HQVRUGHFXLVVRQIRQFWLRQ)U\LQJ6HQVRU ² ² ²
1RPEUHGHSRVLWLRQV)U\LQJ6HQVRU
)RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH ² ² ²
)RQFWLRQ%RRVWHUSRXUFDVVHUROHVSRrOHV ² ² ²
)RQFWLRQ0DLQWLHQDXFKDXG ² ² ²
1RPEUHGHPLQXWHULHV ² ² ²
0LQXWHULH&RXSHFLUFXLW ² ² ²
&KURQRPqWUH ² ² ²
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQW&RXSXUHGHVpFXULWp1HWWR\DJHGHO
pFUDQjWRXWPRPHQW ²² ²² ²²
0HQXG
RSWLRQV ² ² ²
&RQWU{OHGHODKRWWH ² ² ²
0RGXOH:L)LLQWpJUp+RPH&RQQHFW ² ² ²
$FFHVVRLUHV
3RrOH)U\LQJ6HQVRU¡FP *3ñ *3ñ *3ñ
3RrOH)U\LQJ6HQVRU¡FP *3ñ *3ñ *3ñ
3RrOH)U\LQJ6HQVRU¡FP *3ñ *3ñ *3ñ
3RrOH)U\LQJ6HQVRU¡FP ² ² ²
6HQVRUGHFXLVVRQ ² ² ²
&RXYHUFOHQRLU ² ² 9'ñ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
9DULRVSpFLDX[6pULHHW6pULH 9DULRGHFXLVVRQ
7\SHG
DSSDUHLO 7HSSDQ<DNL *ULOOpOHFWULTXH 7HSSDQ<DNL *ULOOpOHFWULTXH
93 95 93 95
&DGUHHQLQR[PDVVLIPPEURVVpPLFURELOOp ²² ²² ²² ²²
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQVRXGp ² ² ²² ²²
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQV
%RXWRQVGHFRPPDQGHHQIDoDGH%DQGHDXGHFRPPDQGHLQWpJUp ² ² ² ²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
3XLVVDQFH N: [ [ [
3ODJHGHWHPSpUDWXUH & ² ² ² ²
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
&RQWU{OHpOHFWURQLTXHGHODWHPSpUDWXUH ²
1HWWR\DJH ² ² ²
]RQHVGHFXLVVRQSRXYDQWrWUHXWLOLVpHVHQPrPHWHPSVVpSDUpPHQW ² ²
*ULOOHHQIRQWH ² ²
5pFHSWDFOHHQLQR[DYHFSLHUUHVGHODYH ² ²
%DFUpFXSpUDWHXUGHJUDLVVH ² ²
6XUIDFHGHFXLVVRQHQFKURPHGXU ² ² ²
6XUIDFHGHFXLVVRQHQLQR[PXOWLFRXFKHV ² ² ²
)RQFWLRQ0DLQWLHQDXFKDXG ² ²
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQW&RXSXUHGHVpFXULWp ² ² ² ²
$FFHVVRLUHV
3ODTXHHQIRQWHGHPLVXUIDFH ² ² ²
&RXYHUFOHHQLQR[ 9$ñ 9$ñ ² ²
&RXYHUFOHQRLU ² ² 9'ñ 9'ñ
%URVVHGHQHWWR\DJH ² ²
6SDWXOH ² ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
9DULRJD]6pULH
7\SHG
DSSDUHLO 9DULRJD] 9DULRJD]
9*) 9*
&DGUHHQLQR[PDVVLIPPEURVVpPLFURELOOp ²² ²²
,QVWDOODWLRQVXUOHSODQGHWUDYDLOjYHXUGHSODQVRXGp ² ²
*D]EXWDQHSURSDQHPEDUJD]QDWXUHOPEDU ² ²
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
%RXWRQVGHFRPPDQGHHQIDoDGHEDQGHDXGHFRPPDQGHLQWpJUp ² ²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
%UOHXUPXOWLFRXURQQHV: ²
%UOHXUPXOWLFRXURQQHV: ²
%UOHXUWUqVSXLVVDQWGRXEOHFRXURQQHGHYDPPHV:
%UOHXUVWDQGDUGGRXEOHFRXURQQHGHYDPPHV:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
&RQWU{OHpOHFWURQLTXHGHODYDPPH
$OOXPDJHDXWRPDWLTXHDOOXPDJHpOHFWULTXH ² ²
5pJODJHpOHFWURQLTXHGHODYDPPHDYHFUpDOOXPDJHDXWRPDWLTXH
)RQFWLRQ0LMRWDJH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
&RXSXUHGHVpFXULWp
*ULOOHHQIRQWH SDUWLHV SDUWLHV
$FFHVVRLUHV
6XSSRUW:RN
3RrOH:RN :3ñ :3ñ
&RXYHUFOHLQR[ ² ²
5DFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWJD] N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH :
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
9DULRGHFXLVVRQ
² ² ²
² ² ²
² ²
² ²
² ² ² ²
SDUWLH SDUWLH SDUWLH SDUWLH
² ²
:3ñ :3ñ ² ²
9$ñ 9$ñ 9$ñ 9$ñ
7\SHG
DSSDUHLO 9DULR*D] 9DULR*D]
9*) 9*
&DGUHHQLQR[PDVVLIPPEURVVpPLFURELOOp ²² ²²
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQVRXGp ²² ²²
*D]EXWDQHSURSDQHPEDUJD]QDWXUHOPEDU ò² ²ó
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
%RXWRQVGHFRPPDQGHHQIDoDGH%DQGHDXGHFRPPDQGHLQWpJUp ² ²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
%UOHXU:RNPXOWLFRXURQQHV: ² ²
%UOHXU:RNPXOWLFRXURQQHV: ² ²
%UOHXUWUqVSXLVVDQW:
%UOHXUVWDQGDUG:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
&RQWU{OHpOHFWURQLTXHGHODYDPPH ² ²
$OOXPDJHpOHFWURQLTXH$OOXPDJHpOHFWULTXH ² ²
5pJODJHpOHFWURQLTXHGHODYDPPHDYHFUpDOOXPDJHDXWRPDWLTXH ² ²
)RQFWLRQPLMRWDJH ² ²
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
&RXSXUHGHVpFXULWp ² ²
*ULOOHHQIRQWH SDUWLHV SDUWLHV
$FFHVVRLUHV
6XSSRUW:RN ² ²
3RrOH:RN ² ²
&RXYHUFOHQRLU ² ²
5DFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWJD] N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH :
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
ò/HVEXVHVSRXUJD]QDWXUHOPEDUSHXYHQWrWUHFRPPDQGpHVHQSLqFHVGHUHFKDQJH
ó/HVEXVHVSRXUJD]QDWXUHOPEDUSHXYHQWrWUHFRPPDQGpHVHQSLqFHVGHUHFKDQJH
9DULRGHFXLVVRQ
² ² ²
² ² ²
² ²
² ²
² ² ² ²
² ² ² ²
² ² ² ²
² ² ² ²
² ² ² ²
SDUWLH SDUWLH SDUWLH SDUWLH
² ²
:3ñ :3ñ ² ²
9'ñ 9'ñ 9'ñ 9'ñ
7DEOHVGHFXLVVRQ
9XHG
HQVHPEOHGHVWDEOHVGHFXLVVRQ
7DEOHDX[GHVFRPELQDLVRQV7DEOHVGHFXLVVRQ+RWWHV
7DEOHVGHFXLVVRQ
7DEOHVGHFXLVVRQLQGXFWLRQDYHFV\VWqPHGHYHQWLODWLRQLQWpJUpH
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH6pULH
7DEOHVGHFXLVVRQLQGXFWLRQ6pULH
&RQVHLOVG·LQVWDOODWLRQSRXUOHVWDEOHVGHFXLVVRQLQGXFWLRQ
7DEOHVGHFXLVVRQYLWURFpUDPLTXH
7DEOHVGHFXLVVRQJD]
$FFHVVRLUHV
'RQQpHVWHFKQLTXHV
9XHG·HQVHPEOHGHVWDEOHVGHFXLVVRQ
&, &,
&,
&* 9*)
9*
&RPELQDLVRQVUHFRPPDQGpHVSRXULQVWDOODWLRQWDEOHVGHFXLVVRQHWKRWWHV
&RPELQDLVRQHVWKpWLTXHHWWHFKQLTXHUHFRPPDQGpH
²QRQUHFRPPDQGpH
&RQWU{OHGHODYHQWLODWLRQDYHFODWDEOHGHFXLVVRQ
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
VDQVFDGUH6pULH
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
DYHFFDGUH6pULH ² ² ²
7DEOHGHFXLVVRQ)XOO=RQH
&; FP
VDQVFDGUH6pULH ² ² ²
7DEOHGHFXLVVRQ,QGXFWLRQ &, FP
6pULH
$, $, $, $, $/ $/ $/ $/ 9/ 9/ $) $) $& $& $&
ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU ODUJHXU
FP FP FP FP FP FP FP FP FP FP FP FP FP FP FP
FP FP FP FP FP FP FP FP FP FP FP
² ² ² ²
² ² ² ²
² ² ² ²
² ²
² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ²
² ²
² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ² ² ² ²
² ²
² ² ² ² ² ² ² ²
7DEOH)OH[,QGXFWLRQDYHFV\VWqPH $FWLYDWLRQDXWRPDWLTXHGXV\VWqPHGH 3RXUXQHSHUIRUPDQFHRSWLPDOHHQ
GHYHQWLODWLRQLQWpJUp6pULH YHQWLODWLRQORUVGHO
XWLOLVDWLRQG
XQH PRGHUHF\FODJHQRXVUHFRPPDQGRQV
&9 ]RQHGHFXLVVRQ XQHVXUIDFHG
DXPRLQVFPòSRXU
)RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ ODFLUFXODWLRQGHO
DLUUHF\FOp
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ )RQFWLRQ7HPSRULVDWLRQFRQWU{OpHSDU 3RXUGHVLQVWDOODWLRQVHQPRGH
GHV]RQHVGHFXLVVRQVUHFWDQJX 6HQVRU UHF\FODJHFRQWUHGHVPXUVH[WpULHXUV
ODLUHV ,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj QRQLVROpV8:Pò&QRXV
² 3RVLWLRQQHPHQWOLEUHGHV JUDLVVHHWGXILOWUHUHF\FODJH&OHDQ$LU UHFRPPDQGRQVXQHLQVWDOODWLRQDYHF
FDVVHUROHVVXUOHV]RQHVGH %DFUHFHYHXUSRXUILOWUHjJUDLVVH JXLGDJHGHO
DLU
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ DPRYLEOHODYDEOHDXODYHYDLVVHOOH /HYHQWLODWHXUUpVLVWDQWDX[FKXWHVGH
೦1RXYHDX DXWRPDWLTXHMXVTX
jODUJHXUFP &RXYHUFOHGXV\VWqPHGHYHQWLODWLRQ SUHVVVLRQSHUPHWO
LPSODQWDWLRQGH
&9 ೦ ࡱ ² 6\VWqPHGHYHQWLODWLRQKDXWHSHUIRU QRLUKDXWHTXDOLWpHQ]LQFPRXOpVRXV ORQJXHXUVGHJDLQHVMXVTX
jPDYHF
6DQVFDGUH ࡱ+7 PDQFHLQWpJUpGDQVODWDEOHGH SUHVVLRQODYDEOHDXODYHYDLVVHOOH [FRXGHVVDQVSHUWHGHSXLVVDQFH
SRXUHQFDVWUHPHQWjIOHXUGHSODQ FXLVVRQ 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
+RPH&RQQHFW ² )RQFWLRQVWRXWDXWRPDWLTXHVGX PRWHXU%/'& 3RLGVGHO
DSSDUHLOHQYLUNJ
/DUJHXUFP V\VWqPHGHYHQWLODWLRQ )OX[G
DLULQWpULHXURSWLPLVpSRXU 6LOHFRQGXLWG
XQHKRWWHHQPRGH
(YDFXDWLRQH[WpULHXUHRXUHF\FODJH ² )LOWUHPpWDOOLTXHDQWLJUDLVVHJUDQGH XQJXLGDJHGHODFLUFXODWLRQGHO
DLU G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
/LYUpHVDQVOHVJDLQHVGHUDFFRUGHPHQW VXUIDFHIDFLOHjUHWLUHUHWODYDEOHDX HIILFDFH FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
ODYHYDLVVHOOH &KURQRPqWUH RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
$FFHVVRLUHVG·LQVWDOODWLRQREOLJDWRLUHV ² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ 0LQXWHULHLQGpSHQGDQWH ODKRWWHGRLWrWUHSUpYXDYHFXQH
&$ ࡱ pQHUJLH )RQFWLRQPpPRLUH IRQFWLRQGHVpFXULWpDGDSWpH
.LWGHUHF\FODJHSRXU ࡱ+7 ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH 0HQXG
RSWLRQVSHUVRQQDOLVpHV /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
XQV\VWqPHVDQVJDLQHV ² 5HPSODFHPHQWIDFLOHGHVILOWUHV 5pJXODWHXUG
pQHUJLH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
&$ ࡱ FKDUERQDFWLI&OHDQ$LUSDUOH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
.LWGHUHF\FODJHHW ࡱ+7 GHVVXVGHO·DSSDUHLOHQFDV 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
GLIIXVHXUG·DLUSRXUXQV\VWqPH G·LQVWDOODWLRQHQPRGHUHF\FODJH PRGH'LJLWDO+RPH&RQQHFW QRWDPPHQWDXQLYHDXGHVGpFRXSHV
DYHFJDLQHVJDLQHVQRQIRXUQLHV ² %RXWRQVGHFRPPDQGHHQLQR[ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH &RQFHUQDQWOHVDXWUHVPDWpULDX[
&$ ࡱ PDVVLIDYHFXQUHYrWHPHQWQRLU &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
ILOWUHVDFRXVWLTXHV ࡱ+7 ² 6pOHFWLRQHWUpJODJHIDFLOHVGH GHVVHUYLFHV+RPH&RQQHFWGDQVOH GHWUDYDLO
SRXUPRGHpYDFXDWLRQH[WpULHXUH WRXWHVOHVIRQFWLRQVJUkFHDX SD\VUHVSHFWLI/HVVHUYLFHV+RPH /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
GLVSOD\ELFRORUH &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
$FFHVVRLUHVHQRSWLRQ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&$ ࡱ =RQHVGHFXLVVRQ ZZZKRPHFRQQHFWFRP GHSODQVGHWUDYDLOPLQFHV
7HSSDQ<DNLHQ ࡱ+7 =RQHGHGURLWH /HSRLGVGHO
DSSDUHLOHWOHSRLGV
PDWpULDXPXOWLFRXFKHV ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ &RQVRPPDWLRQV VXSSOpPHQWDLUHGHVUpFLSLHQWVVRQWj
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ [FP:DYHF%RRVWHU &ODVVHG
HIILFDFLWppQHUJpWLTXH$ SUHQGUHHQFRQVLGpUDWLRQ
&$ ࡱ :FRPELQDEOHVHQ]RQH[FP VXUXQHpFKHOOHGH$j' /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
3ODTXHjJULOOHUHQ ࡱ+7 :DYHF%RRVWHU:DYHF &RQVRPPDWLRQpQHUJpWLTXH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
IRQWHG
DOXPLQLXP H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP N:KDQ LQIRUPHGHO
DSSDUHLOVXUOHMRLQW
5HYrWHPHQWDQWLDGKpUHQW :DYHF%RRVWHU: &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$ 1HSDVXWLOLVHUGHMRLQWGHUHJDUQLVVDJH
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ =RQHGHJDXFKH &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH% SDUOHGHVVRXV
&$ ࡱ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 1LYHDXVRQRUHPLQ'%PD['% /
pSDLVVHXUGXMRLQWSHXWYDULHUHQ
ILOWUHVjFKDUERQ ࡱ+7 [FP:DYHF%RRVWHU SRVLWLRQQRUPDOH IRQFWLRQGHVWROpUDQFHVGHOD
DFWLI&OHDQ$LUGHUHPSODFHPHQW :FRPELQDEOHVHQ]RQH[FP YLWURFpUDPLTXHHWGHODGpFRXSHGX
*3 ࡱ :DYHF%RRVWHU:DYHF 6pFXULWp SODQGHWUDYDLO
3RrOH)U\LQJ6HQVRU ࡱ+7 H[WHQVLRQDXWRPDWLTXHMXVTX
j[FP 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
HQLQR[ :DYHF%RRVWHU: 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV 9DOHXUVGHUDFFRUGHPHQW
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
GHFXLVVRQFP 3HUIRUPDQFHVGXV\VWqPHGH 6pFXULWpHQIDQWV N:
*3 ࡱ YHQWLODWLRQ &RXSXUHGHVpFXULWp &RQVRPPDWLRQpQHUJpWLTXHVWDQGE\
3RrOH)U\LQJ6HQVRU ࡱ+7 3HUIRUPDQFHHWQLYHDXVRQRUH 6\VWqPHGHSURWHFWLRQDQWLGpERUGHPHQW GLVSOD\:
HQLQR[ SXLVVDQFHSRVLWLRQ,QWHQVLYH jGRXEOHQLYHDXDPRYLEOHHWODYDEOHDX &RQVRPPDWLRQpQHUJpWLTXHVWDQGE\
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ ODYHYDLVVHOOH LQWHUQHW:
GHFXLVVRQFP ODQRUPH(1 5pVHUYRLUDQWLGpERUGHPHQWDPRYLEOH 3RXUGpVDFWLYHUOHPRGH:L)LYRLUOH
*3 ࡱ 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ FDSDFLWpOLWUHVODYDEOHDX PDQXHOG
XWLOLVDWLRQ
3RrOH)U\LQJ6HQVRU ࡱ+7 ODQRUPH(1 ODYHYDLVVHOOH
HQLQR[ (YDFXDWLRQH[WpULHXUH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH PóK &RQVHLOVG
LQVWDOODWLRQ
GHFXLVVRQFP G%$UHS: /
DSSDUHLOGRLWUHVWHUDFFHVVLEOHSDU
*3 ࡱ 5HF\FODJH HQGHVVRXV
3RrOH)U\LQJ6HQVRU ࡱ+7 PóK 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
HQLQR[ G%$UHS: FXLVLQHjIRQGPDJQpWLTXH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH G%$UH˄3D /DUJHXUGXPHXEOHEDVPLQFP
GHFXLVVRQFP 3URIRQGHXUGXSODQGHWUDYDLOPLQFP
%DQGHDXGHFRPPDQGH VLSDVGHJXLGDJHGHO
DLUHQPRGH
%RXWRQVGHFRPPDQGHDYHFDQQHDX UHF\FODJHPLQFPDYHFJXLGDJHGH
OXPLQHX[LQGLFDWLRQGHV]RQHVGH O
DLUSRXUUHF\FODJHpYDFXDWLRQ
FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV 3URIRQGHXUG
HQFDVWUHPHQWPP
&RQWU{OHpOHFWURQLTXHDYHFSRVLWLRQV 3RXUOHVHWGHUHF\FODJH&$
GHFXLVVRQ LOIDXWSUpYRLUXQHRXYHUWXUHYHUWLFDOH
8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV GHPLQPPGHUULqUHODSDURLDUULqUH
JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH GXPHXEOH3RXUXQHSXLVVDQFH
&RQWU{OHGXV\VWqPHGHYHQWLODWLRQ RSWLPDOHQRXVUHFRPPDQGRQVXQH
JUkFHjYLWHVVHVpOHFWURQLTXHVHW RXYHUWXUHGHPP
SRVLWLRQLQWHQVLYH 8QHJDLQHSODWHPPSHXWrWUH
UDFFRUGpHGLUHFWHPHQWjODVRUWLHG
DLU
&DUDFWpULVWLTXHV VLWXpHjO
DUULqUHGHO
DSSDUHLO
)RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ (QPRGHpYDFXDWLRQSUpYRLUO
LQVWDOODWLRQ
UHFWDQJXODLUHV G
XQFODSHWDQWLUHWRXUDYHFXQH
)RQFWLRQ)U\LQJ6HQVRU SUHVVLRQG
RXYHUWXUHGHPD[
)RQFWLRQ%RRVWHU 3D
$MXVWHPHQWDXWRPDWLTXHGHOD
SXLVVDQFHG
DVSLUDWLRQFRQWU{OHSDU
VHQVRU /HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
9XHGHIDFHGpFRXSHGXPHXEOHSRXUUHF\FODJHVDQVJDLQHVGH&9jIOHXUGHSODQ
DYHF&$
0RQWDJHGHVERXWRQVGHFRPPDQGH
LQVWDOODWLRQjIOHXUGHSODQ
9XHGHIDFH
$&RQQHFWpGLUHFWHPHQWjO·DUULqUH
0HVXUHVHQPP
9XHGHF{Wp&9HQUHF\FODJHVDQVJDLQHVDYHF&$
1RQUHFRPPDQGpSRXULQVWDOODWLRQHQPRGHUHF\FODJHFRQWUHGHVPXUV
H[WpULHXUVQRQLVROpV8:Pò&
0HVXUHVHQPP
7DEOH)OH[,QGXFWLRQDYHFV\VWqPH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH RSWLPDOHQRXVUHFRPPDQGRQVXQH
GHYHQWLODWLRQLQWpJUp6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF RXYHUWXUHGHPP
&9 DFFHVVRLUH&$ 3RXUXQHSHUIRUPDQFHRSWLPDOHHQ
)RQFWLRQ)U\LQJ6HQVRU PRGHUHF\FODJHQRXVUHFRPPDQGRQV
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ )RQFWLRQ%RRVWHUSRXUFDVVHUROHV XQHVXUIDFHG
DXPRLQVFPòSRXU
GHV]RQHVGHFXLVVRQV )RQFWLRQ%RRVWHUSRXUSRrOHV ODFLUFXODWLRQGHO
DLUUHF\FOp
UHFWDQJXODLUHV )RQFWLRQ0DLQWLHQDXFKDXG 3RXUGHVLQVWDOODWLRQVHQPRGH
² 3RVLWLRQQHPHQWOLEUHGHV $MXVWHPHQWDXWRPDWLTXHGHOD UHF\FODJHFRQWUHGHVPXUVH[WpULHXUV
FDVVHUROHVVXUOHV]RQHVGH SXLVVDQFHG
DVSLUDWLRQFRQWU{OHSDU QRQLVROpV8:Pò&QRXV
FXLVVRQFRPELQpHV VHQVRU UHFRPPDQGRQVXQHLQVWDOODWLRQDYHF
² 6\VWqPHGHYHQWLODWLRQKDXWH $FWLYDWLRQDXWRPDWLTXHGXV\VWqPH JXLGDJHGHO
DLU
&9 ࡱ SHUIRUPDQFHLQWpJUpGDQVODWDEOH GHYHQWLODWLRQORUVGHO
XWLOLVDWLRQG
XQH 8QHJDLQHSODWHPPSHXWrWUH
6DQVFDGUH ࡱ+7 GHFXLVVRQ ]RQHGHFXLVVRQ UDFFRUGpHGLUHFWHPHQWjODVRUWLHG
DLU
SRXUHQFDVWUHPHQWjIOHXUGHSODQ ² )RQFWLRQWRXWDXWRPDWLTXHGX )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ VLWXpHjO
DUULqUHGHO
DSSDUHLO
+RPH&RQQHFW V\VWqPHGHYHQWLODWLRQ )RQFWLRQ7HPSRULVDWLRQFRQWU{OpHSDU (QPRGHpYDFXDWLRQSUpYRLU
/DUJHXUFP ² )LOWUHPpWDOOLTXHDQWLJUDLVVHJUDQGH 6HQVRU O
LQVWDOODWLRQG
XQFODSHWDQWLUHWRXUDYHF
(YDFXDWLRQH[WpULHXUHRXUHF\FODJH VXUIDFHIDFLOHjUHWLUHUHWODYDEOHDX ,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj XQHSUHVVLRQG
RXYHUWXUHGHPD[3D
/LYUpHVDQVOHVJDLQHVGHUDFFRUGHPHQW ODYHYDLVVHOOH JUDLVVHHWGXILOWUHUHF\FODJH&OHDQ$LU /HYHQWLODWHXUUpVLVWDQWDX[FKXWHVGH
² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ %DFUHFHYHXUSRXUILOWUHjJUDLVVH SUHVVLRQSHUPHWO
LPSODQWDWLRQGH
$FFHVVRLUHVG·LQVWDOODWLRQREOLJDWRLUHV pQHUJLH DPRYLEOHODYDEOHDXODYHYDLVVHOOH ORQJXHXUVGHJDLQHVMXVTX
jPDYHF
&$ ࡱ ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH &RXYHUFOHGXV\VWqPHGHYHQWLODWLRQ [FRXGHVVDQVSHUWHGHSXLVVDQFH
.LWGHUHF\FODJHSRXU ࡱ+7 ² 5HPSODFHPHQWIDFLOHGHVILOWUHV QRLUKDXWHTXDOLWpHQ]LQFPRXOpVRXV /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
XQV\VWqPHVDQVJDLQHV FKDUERQDFWLI&OHDQ$LUSDUOH SUHVVLRQODYDEOHDXODYHYDLVVHOOH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&$ ࡱ GHVVXVGHO·DSSDUHLOHQFDV 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH FXLVLQHjIRQGPDJQpWLTXH
.LWGHUHF\FODJHHW ࡱ+7 G·LQVWDOODWLRQHQPRGHUHF\FODJH PRWHXU%/'& 3RLGVGHO
DSSDUHLOHQYLUNJ
GLIIXVHXUG·DLUSRXUXQV\VWqPH ² &RPPDQGH7ZLVW3DGDYHFERXWRQ )OX[G
DLULQWpULHXURSWLPLVpSRXU 6LOHFRQGXLWG
XQHKRWWHHQPRGH
DYHFJDLQHVJDLQHVQRQIRXUQLHV PDJQpWLTXHQRLUDPRYLEOH XQJXLGDJHGHODFLUFXODWLRQGHO
DLU G
pYDFXDWLRQH[WpULHXUHHVWUHOLp
&$ ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH HIILFDFH DXFRQGXLWG
pYDFXDWLRQG
XQH
ILOWUHVDFRXVWLTXHV ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX &KURQRPqWUH FKHPLQpHRXG
XQSRrOHOHFLUFXLW
SRXUPRGHpYDFXDWLRQH[WpULHXUH GLVSOD\ELFRORUH &XLVVRQVSURJUDPPDEOHVMXVTX
j pOHFWULTXHGHODKRWWHGRLWrWUHSUpYX
PLQXWHV DYHFXQHIRQFWLRQGHVpFXULWpDGDSWpH
$FFHVVRLUHVHQRSWLRQ =RQHVGHFXLVVRQ 0LQXWHULHLQGpSHQGDQWH /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
&$ ࡱ =RQHGHGURLWH )RQFWLRQPpPRLUH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
7HSSDQ<DNLHQ ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 0HQXG
RSWLRQVSHUVRQQDOLVpHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
PDWpULDXPXOWLFRXFKHV [FP:DYHF%RRVWHU 5pJXODWHXUG
pQHUJLH GHSODQVGHWUDYDLOPLQFHV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ :FRPELQDEOHVHQ]RQH /HSRLGVGHO
DSSDUHLOHWOHSRLGV
&$ ࡱ [FP:DYHF%RRVWHU 0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV VXSSOpPHQWDLUHVGHVUpFLSLHQWVVRQWj
3ODTXHjJULOOHUHQ ࡱ+7 : PRGH'LJLWDO+RPH&RQQHFW SUHQGUHHQFRQVLGpUDWLRQ
IRQWHG
DOXPLQLXP =RQHGHJDXFKH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
5HYrWHPHQWDQWLDGKpUHQW ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ [FP:DYHF%RRVWHU GHVVHUYLFHV+RPH&RQQHFWGDQVOH RXERLVPDVVLI)DLUHDWWHQWLRQjOD
&$ ࡱ :FRPELQDEOHVHQ]RQH SD\VUHVSHFWLI/HVVHUYLFHV+RPH UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
6HQVRUGHFXLVVRQ ࡱ+7 [FP:DYHF%RRVWHU &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV QRWDPPHQWDXQLYHDXGHGpFRXSHV
SRXUUpJODJHGHODWHPSpUDWXUHGDQV : WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU &RQFHUQDQWOHVDXWUHVPDWpULDX[
OHVFDVVHUROHV ZZZKRPHFRQQHFWFRP YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
&$ ࡱ 3HUIRUPDQFHVGXV\VWqPHGH GHWUDYDLO
ILOWUHVjFKDUERQ ࡱ+7 YHQWLODWLRQ &RQVRPPDWLRQV /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
DFWLI&OHDQ$LUGHUHPSODFHPHQW 3XLVVDQFHSRVLWLRQLQWHQVLYH &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
*3 ࡱ 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ XQHpFKHOOHGH$j' XQLIRUPHGHO
DSSDUHLOVXUOHMRLQW
3RrOH)U\LQJ6HQVRU ࡱ+7 ODQRUPH(1 &RQVRPPDWLRQpQHUJpWLTXHN:DQ 1HSDVXWLOLVHUGHMRLQWGHUHJDUQLVVDJH
HQLQR[ 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$ SDUOHGHVVRXV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH (1 &ODVVHG
HIILFDFLWpG
pFODLUDJH /
pSDLVVHXUGXMRLQWSHXWYDULHUHQ
GHFXLVVRQFP 5pGXFWLRQGHVRGHXUVHQUHF\FODJH &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH% IRQFWLRQGHVWROpUDQFHVGHOD
*3 ࡱ VHORQ(1 1LYHDXVRQRUHPLQG%PD[G% YLWURFpUDPLTXHHWGHODGpFRXSHGX
3RrOH)U\LQJ6HQVRU ࡱ+7 (YDFXDWLRQH[WpULHXUH SRVLWLRQQRUPDOH SODQGHWUDYDLO
HQLQR[ PóK
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH G%$UHS: 6pFXULWp 9DOHXUVGHUDFFRUGHPHQW
GHFXLVVRQFP 5HF\FODJH ,QWHUUXSWHXUSULQFLSDO 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
*3 ࡱ PóK 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ N:
3RrOH)U\LQJ6HQVRU ࡱ+7 G%$UHS: 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV &kEOHGHUDFFRUGHPHQWPVDQV
HQLQR[ 7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[ SULVH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %DQGHDXGHFRPPDQGH 6pFXULWpHQIDQWV
GHFXLVVRQFP &RPPDQGH7ZLVW3DGDYHFERXWRQ &RXSXUHGHVpFXULWp
PDJQpWLTXHDPRYLEOH 6\VWqPHGHSURWHFWLRQDQWLGpERUGHPHQW
8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV jGRXEOHQLYHDXDPRYLEOHHWODYDEOHDX
JUkFHDXGLVSOD\ELFRORUHEODQF ODYHYDLVVHOOH
RUDQJH 5pVHUYRLUDQWLGpERUGHPHQWDPRYLEOH
0DUTXDJHGHV]RQHVHWVXUIDFHVGH FDSDFLWpOLWUHVODYDEOHDX
FXLVVRQ ODYHYDLVVHOOH
5pJODJHpOHFWURQLTXHHQSRVLWLRQV
GHFXLVVRQ &RQVHLOVG
LQVWDOODWLRQ
&RQWU{OHGXV\VWqPHGHYHQWLODWLRQ /
DSSDUHLOGRLWUHVWHUDFFHVVLEOHSDU
JUkFHjYLWHVVHVpOHFWURQLTXHVHW HQGHVVRXV
SRVLWLRQLQWHQVLYH /DUJHXUGXPHXEOHEDVPLQFP
3URIRQGHXUGXSODQGHWUDYDLOPLQFP
&DUDFWpULVWLTXHV +DXWHXUG
HQFDVWUHPHQWPP
)RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ 3RXUOHVHWGHUHF\FODJH&$
UHFWDQJXODLUHV LOIDXWSUpYRLUXQHRXYHUWXUHYHUWLFDOH
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV GHPLQPPGHUULqUHODSDURLDUULqUH
ORUVGHODPLVHVRXVWHQVLRQGHOD GXPHXEOH3RXUXQHSXLVVDQFH
WDEOH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
0HVXUHVHQPP
0HVXUHVHQPP
9XHGHIDFH
$&RQQHFWpGLUHFWHPHQWjO·DUULqUH
0HVXUHVHQPP 0HVXUHVHQPP
0HVXUHVHQPP
1RQUHFRPPDQGpSRXULQVWDOODWLRQHQPRGHUHF\FODJHFRQWUHGHVPXUVH[WpULHXUVQRQLVROpV8:Pò&
0HVXUHVHQPP 0HVXUHVHQPP
7DEOH)OH[,QGXFWLRQDYHFV\VWqPH &DUDFWpULVWLTXHV &RQVHLOVG
LQVWDOODWLRQ
GHYHQWLODWLRQLQWpJUp6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ /
DSSDUHLOGRLWUHVWHUDFFHVVLEOHSDU
&9 UHFWDQJXODLUHV HQGHVVRXV
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV /DUJHXUGXPHXEOHEDVPLQFP
² (QFDGUHPHQWLQR[PDVVLI ORUVGHODPLVHVRXVWHQVLRQGHOD 3URIRQGHXUGXSODQGHWUDYDLO
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ WDEOH PLQFP
GHV]RQHVGHFXLVVRQV )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH +DXWHXUG
HQFDVWUHPHQWPP
UHFWDQJXODLUHV )RQFWLRQ6HQVRUGHFXLVVRQDYHF 3RXUOHVHWGHUHF\FODJH&$
² 3RVLWLRQQHPHQWOLEUHGHV DFFHVVRLUH&$ LOIDXWSUpYRLUXQHRXYHUWXUHYHUWLFDOH
FDVVHUROHVVXUOHV]RQHVGH )RQFWLRQ)U\LQJ6HQVRU GHPLQPPGHUULqUHODSDURLDUULqUH
FXLVVRQFRPELQpHV )RQFWLRQ%RRVWHUSRXUFDVVHUROHV GXPHXEOH3RXUXQHSXLVVDQFH
&9 ࡱ ² 6\VWqPHGHYHQWLODWLRQKDXWH )RQFWLRQ%RRVWHUSRXUSRrOHV RSWLPDOHQRXVUHFRPPDQGRQVXQH
&DGUHHQLQR[ ࡱ+7 SHUIRUPDQFHLQWpJUpGDQVODWDEOH )RQFWLRQ0DLQWLHQDXFKDXG RXYHUWXUHGHPP
+RPH&RQQHFW GHFXLVVRQ $MXVWHPHQWDXWRPDWLTXHGHOD 3RXUXQHSHUIRUPDQFHRSWLPDOHHQ
/DUJHXUFP ² )RQFWLRQWRXWDXWRPDWLTXHGX SXLVVDQFHG
DVSLUDWLRQFRQWU{OHSDU PRGHUHF\FODJHQRXVUHFRPPDQGRQV
(YDFXDWLRQH[WpULHXUHRXUHF\FODJH V\VWqPHGHYHQWLODWLRQ VHQVRU XQHVXUIDFHG
DXPRLQVFPòSRXU
/LYUpHVDQVOHVJDLQHVGHUDFFRUGHPHQW ² )LOWUHPpWDOOLTXHDQWLJUDLVVHJUDQGH $FWLYDWLRQDXWRPDWLTXHGXV\VWqPHGH ODFLUFXODWLRQGHO
DLUUHF\FOp
VXUIDFHIDFLOHjUHWLUHUHWODYDEOHDX YHQWLODWLRQORUVGHO
XWLOLVDWLRQG
XQH 3RXUGHVLQVWDOODWLRQVHQPRGH
$FFHVVRLUHVG·LQVWDOODWLRQREOLJDWRLUHV ODYHYDLVVHOOH ]RQHGHFXLVVRQ UHF\FODJHFRQWUHGHVPXUVH[WpULHXUV
&$ ࡱ ² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ QRQLVROpV8:Pò&
.LWGHUHF\FODJHSRXU ࡱ+7 pQHUJLH )RQFWLRQ7HPSRULVDWLRQFRQWU{OpHSDU QRXVUHFRPPDQGRQVXQHLQVWDOODWLRQ
XQV\VWqPHVDQVJDLQHV ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH 6HQVRU DYHFJXLGDJHGHO
DLU
&$ ࡱ ² 5HPSODFHPHQWIDFLOHGHVILOWUHV ,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj 8QHJDLQHSODWHPPSHXWrWUH
.LWGHUHF\FODJHHW ࡱ+7 FKDUERQDFWLI&OHDQ$LUSDUOH JUDLVVHHWGXILOWUHUHF\FODJH&OHDQ$LU UDFFRUGpHGLUHFWHPHQWjODVRUWLHG
DLU
GLIIXVHXUG·DLUSRXUXQV\VWqPH GHVVXVGHO·DSSDUHLOHQFDV %DFUHFHYHXUSRXUILOWUHjJUDLVVH VLWXpHjO
DUULqUHGHO
DSSDUHLO
DYHFJDLQHVJDLQHVQRQIRXUQLHV G·LQVWDOODWLRQHQPRGHUHF\FODJH DPRYLEOHODYDEOHDXODYHYDLVVHOOH (QPRGHpYDFXDWLRQSUpYRLU
&$ ࡱ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ &RXYHUFOHGXV\VWqPHGHYHQWLODWLRQ O
LQVWDOODWLRQG
XQFODSHWDQWLUHWRXUDYHF
ILOWUHVDFRXVWLTXHV ࡱ+7 PDJQpWLTXHLQR[DPRYLEOH QRLUKDXWHTXDOLWpHQ]LQFPRXOpVRXV XQHSUHVVLRQG
RXYHUWXUHGHPD[3D
SRXUPRGHpYDFXDWLRQH[WpULHXUH ² 6pOHFWLRQHWUpJODJHIDFLOHVGH SUHVVLRQODYDEOHDXODYHYDLVVHOOH /HYHQWLODWHXUUpVLVWDQWDX[FKXWHVGH
WRXWHVOHVIRQFWLRQVJUkFHDX 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH SUHVVLRQSHUPHWO
LPSODQWDWLRQGH
$FFHVVRLUHVHQRSWLRQ GLVSOD\ELFRORUH PRWHXU%/'& ORQJXHXUVGHJDLQHVMXVTX
jP
&$ ࡱ )OX[G
DLULQWpULHXURSWLPLVpSRXU DYHF[FRXGHVVDQVSHUWHGH
7HSSDQ<DNLHQ ࡱ+7 =RQHVGHFXLVVRQ XQJXLGDJHGHODFLUFXODWLRQGHO
DLU SXLVVDQFH
PDWpULDXPXOWLFRXFKHV =RQHGHGURLWH HIILFDFH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ &KURQRPqWUH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&$ ࡱ [FP:DYHF%RRVWHU &XLVVRQVSURJUDPPDEOHVMXVTX
j FXLVLQHjIRQGPDJQpWLTXH
3ODTXHjJULOOHUHQ ࡱ+7 :FRPELQDEOHVHQ]RQH[FP PLQXWHV 3RLGVGHO
DSSDUHLOHQYLUNJ
IRQWHG
DOXPLQLXP :DYHF%RRVWHU: 0LQXWHULHLQGpSHQGDQWH 6LOHFRQGXLWG
XQHKRWWHHQPRGH
5HYrWHPHQWDQWLDGKpUHQW =RQHGHJDXFKH )RQFWLRQPpPRLUH G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ 0HQXG
RSWLRQVSHUVRQQDOLVpHV DXFRQGXLWG
pYDFXDWLRQG
XQH
&$ ࡱ [FP:DYHF%RRVWHU 5pJXODWHXUG
pQHUJLH FKHPLQpHRXG
XQSRrOHOHFLUFXLW
6HQVRUGHFXLVVRQ ࡱ+7 :FRPELQDEOHVHQ]RQH[FP pOHFWULTXHGHODKRWWHGRLWrWUHSUpYX
SRXUUpJODJHGHODWHPSpUDWXUHGDQV :DYHF%RRVWHU: 0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHV DYHFXQHIRQFWLRQGHVpFXULWpDGDSWpH
OHVFDVVHUROHV PRGH'LJLWDO+RPH&RQQHFW /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
&$ ࡱ 3HUIRUPDQFHVGXV\VWqPHGH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
%RXWRQPDJQpWLTXH ࡱ+7 YHQWLODWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
QRLUSRXUWDEOHVLQGXFWLRQ6pULH 3XLVVDQFHSRVLWLRQLQWHQVLYH GHVVHUYLFHV+RPH&RQQHFWGDQVOH GHSODQVGHWUDYDLOPLQFHV
&$ ࡱ 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ SD\VUHVSHFWLI/HVVHUYLFHV+RPH /HSRLGVGHO
DSSDUHLOHWOHSRLGV
ILOWUHVjFKDUERQ ࡱ+7 ODQRUPH(1 &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV VXSSOpPHQWDLUHVGHVUpFLSLHQWVVRQWj
DFWLI&OHDQ$LUGHUHPSODFHPHQW 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU SUHQGUHHQFRQVLGpUDWLRQ
*3 ࡱ (1 ZZZKRPHFRQQHFWFRP
3RrOH)U\LQJ6HQVRU ࡱ+7 5pGXFWLRQGHVRGHXUVHQUHF\FODJH 9DOHXUVGHUDFFRUGHPHQW
HQLQR[ VHORQ(1 &RQVRPPDWLRQV 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH (YDFXDWLRQH[WpULHXUH &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU N:
GHFXLVVRQFP PóK XQHpFKHOOHGH$j' &kEOHGHUDFFRUGHPHQWPVDQV
*3 ࡱ G%$UHS: &RQVRPPDWLRQpQHUJpWLTXHN:DQ SULVH
3RrOH)U\LQJ6HQVRU ࡱ+7 5HF\FODJH &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
HQLQR[ PóK &ODVVHG
HIILFDFLWpG
pFODLUDJH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH G%$UHS: &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH%
GHFXLVVRQFP 1LYHDXVRQRUHPLQG%PD[G%
*3 ࡱ %DQGHDXGHFRPPDQGH SRVLWLRQQRUPDOH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH 6pFXULWp
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV ,QWHUUXSWHXUSULQFLSDO
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQF 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
RUDQJH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
0DUTXDJHGHV]RQHVHWVXUIDFHVGH 7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
FXLVVRQ 6pFXULWpHQIDQWV
&RQWU{OHpOHFWURQLTXHDYHF &RXSXUHGHVpFXULWp
SRVLWLRQVGHFXLVVRQ 6\VWqPHGHSURWHFWLRQ
&RQWU{OHGXV\VWqPHGHYHQWLODWLRQ DQWLGpERUGHPHQWjGRXEOHQLYHDX
JUkFHjYLWHVVHVpOHFWURQLTXHVHW DPRYLEOHHWODYDEOHDXODYHYDLVVHOOH
SRVLWLRQLQWHQVLYH 5pVHUYRLUDQWLGpERUGHPHQWDPRYLEOH
FDSDFLWpOLWUHVODYDEOHDX
ODYHYDLVVHOOH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
0HVXUHVHQPP
$&RQQHFWpGLUHFWHPHQWjO·DUULqUH
0HVXUHVHQPP
0HVXUHVHQPP 0HVXUHVHQPP
1RQUHFRPPDQGpSRXULQVWDOODWLRQHQPRGHUHF\FODJHFRQWUHGHVPXUVH[WpULHXUVQRQLVROpV8:Pò&
0HVXUHVHQPP
0HVXUHVHQPP
&RQILJXUDWLRQVG·LQVWDOODWLRQSRXUWDEOH)OH[,QGXFWLRQDYHFV\VWqPHGHYHQWLODWLRQLQWpJUpH6pULH
%RQjVDYRLU²SRXUXQHSODQL!FDWLRQHWXQHLQVWDOODWLRQFRUUHFWH
²3RXUOHVPHVXUHVGHODSURIRQGHXUWHQLUFRPSWHGHODSURIRQGHXUGXPHXEOHHWGXGpERUGGXSODQGHWUDYDLOGHVPHXEOHVGHFXLVLQH
²5DFFRUGHPHQWSRXUO·pYDFXDWLRQH[WpULHXUHjO
DUULqUH/HVSLqFHVGHFRQQH[LRQQpFHVVDLUHVVRQWGLVSRQLEOHVSRXUFHWWHFRQ=JXUDWLRQ
²/·DSSDUHLOGRLWUHVWHUDFFHVVLEOHSDUOHGHVVRXV
5HF\FODJH
²,QVWDOODWLRQDYHFOHVNLWVSRXUPRGHUHF\FODJH&$RX&$
²5HPSODFHPHQWGHVILOWUHVjFKDUERQ&OHDQ$LUSDUOHGHVVXV
²*DUGHUO·DFFHVVLELOLWpjODWDEOHSDUHQGHVVRXV
²3RXUXQHSHUIRUPDQFHRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXIILVDPPHQWG·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpVXUIDFHG·DpUDWLRQGHPLQFPò
²/·XWLOLVDWLRQGXNLWGHUHF\FODJHVDQVJDLQHV&$QpFHVVLWHXQHVSDFHYHUWLFDOSRXUOHUHWRXUGHO·DLUUHF\FOpGHPLQPPGHUULqUHOHSDQQHDXDUULqUHGXPHXEOHEDV
/·HVSDFHUHFRPPDQGpSRXUXQHSHUIRUPDQFHRSWLPDOHHVWGHPP
&RQILJXUDWLRQG·LQVWDOODWLRQUHF\FODJH
&9&9DYHFUHF\FODJHGHO·DLUVDQVJDLQHV&$
,QVWDOODWLRQPXUDOHSURIRQGHXUSODQGHWUDYDLOFP(VSDFHYHUWLFDOGHPLQPPGHUULqUHOHSDQQHDXDUULqUHGXPHXEOHEDV
/·HVSDFHYHUWLFDOUHFRPPDQGpSRXUXQHSHUIRUPDQFHRSWLPDOHHVWGHPP1RQUHFRPPDQGpHQFDVGHPXUH[WpULHXUQRQLVROp8:Pò&
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGHUHF\FODJHSRXUXQ
V\VWqPHVDQVJDLQHV
&RQILJXUDWLRQG·LQVWDOODWLRQUHF\FODJH
&9&9DYHFUHF\FODJHGHO·DLUVDQVJDLQHV&$
,QVWDOODWLRQHQvORWSURIRQGHXUGHO·vORWFP(VSDFHYHUWLFDOGHPLQPPGHUULqUHOHSDQQHDXDUULqUHGXPHXEOHEDV
/·HVSDFHYHUWLFDOUHFRPPDQGpSRXUXQHSHUIRUPDQFHRSWLPDOHHVWGHPP
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGHUHF\FODJHSRXUXQ
V\VWqPHVDQVJDLQHV
&RQILJXUDWLRQG·LQVWDOODWLRQUHF\FODJH
&9&9UHF\FODJHGHO
DLUSRXUXQV\VWqPHDYHFJDLQHVJDLQHVQRQIRXUQLHV
,QVWDOODWLRQHQvORWSURIRQGHXUGHO·vORWFP
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGHUHF\FODJHDYHF
GLWXVHXUG
DLUJDLQHVQRQIRXUQLHV
²[$'*DLQHSODWHPP
PqWUH
²[$'&RXGHJDLQHSODWH
YHUWLFDOPP
²[$'3LqFHGHFRQQH[LRQJDLQH
SODWH
7DEOHVGHFXLVVRQ
(YDFXDWLRQH[WpULHXUH
²/·DSSDUHLOSHXWrWUHUDFFRUGpGLUHFWHPHQWjXQHJDLQHSODWHPkOHPPSODW
²3RXUWRXWHVOHVLQVWDOODWLRQVHQpYDFXDWLRQH[WpULHXUHSUpYRLUOHV=OWUHVDFRXVWLTXHV&$
²/DORQJXHXUPD[LPDOHGHJDLQHG·pYDFXDWLRQUHFRPPDQGpHSRXUDVVXUHUXQHERQQHSHUIRUPDQFHG·DVSLUDWLRQHVWGHP
²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHQRXVUHFRPPDQGRQVO·XWLOLVDWLRQGHJDLQHVPP/HVJDLQHVHWSLqFHVGHFRQQH[LRQVRQWjFRPPDQGHUHQWDQWTX·DFFHVVRLUHV
²/HUDFFRUGHPHQWHQWUHJDLQHVSODWHVGRLWVHIDLUHjO·DLGHG·XQHSLqFHGHFRQQH[LRQ
&RQILJXUDWLRQG·LQVWDOODWLRQpYDFXDWLRQH[WpULHXUH
&9&9²LQVWDOODWLRQHQpYDFXDWLRQH[WpULHXUH
,QVWDOODWLRQPXUDOHSURIRQGHXUGXSODQGHWUDYDLOPLQLFPFRQQH[LRQGLUHFWHDXFDFKHGHVRUWLHPXUDOHJDLQHSODWH
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGH=OWUHVDFRXVWLTXHV
²[$'*DLQHSODWHPP
PqWUH
²[$'&DFKHVRUWLHPXUDOHSODW
PP
&RQILJXUDWLRQG·LQVWDOODWLRQpYDFXDWLRQH[WpULHXUH
&9&9²LQVWDOODWLRQHQpYDFXDWLRQH[WpULHXUH
,QVWDOODWLRQPXUDOHRXHQvORWSURIRQGHXUGXSODQGHWUDYDLOPLQLFP*DLQHVG·pYDFXDWLRQYHUVO·H[WpULHXUVRXVODGDOOHYLDODFDYH
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGH=OWUHVDFRXVWLTXHV
²[$'*DLQHSODWHPP
PqWUH
²[$'&RXGHJDLQHSODWH
YHUWLFDOPP
²[$'*DLQHSODWHDGDSWDWHXU
F\OLQGULTXHPP
²[$'7X\DXURQGPP
²[$'&RXGHPP
²[$'3LqFHGHFRQQH[LRQ
PP
²[$'&DLVVRQPXUDOVRUWLH
WpOHVFRSLTXHPP
²[$'5RXOHDXDGKpVLI
²[$'3LqFHGHFRQQH[LRQJDLQH
SODWHPP
&RQILJXUDWLRQG·LQVWDOODWLRQpYDFXDWLRQH[WpULHXUH
&9&9²LQVWDOODWLRQHQpYDFXDWLRQH[WpULHXUH
,QVWDOODWLRQPXUDOHSURIRQGHXUGXSODQGHWUDYDLOPLQLFP*DLQHVG·pYDFXDWLRQGHUULqUHOHPHXEOHHWGDQVODSOLQWKH
/LVWHGHVDFFHVVRLUHVjFRPPDQGHU
²[&$.LWGH=OWUHVDFRXVWLTXHV
²[$'*DLQHSODWHPP
PqWUH
²[$'&RXGHJDLQHSODWH
YHUWLFDOPP
²[$'&RXGHJDLQHSODWH
KRUL]RQWDOPP
²[$'&DFKHVRUWLHPXUDOHJDLQH
SODWHPP
²[$'&RXGHFRXUWJDLQHSODWH
YHUWLFDOPP
²[$'3LqFHGHFRQQH[LRQJDLQH
SODWH
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&; FXLVLQHjIRQGPDJQpWLTXH
/H:RN:3QHSHXWSDVrWUH
² 8QHVHXOHJUDQGHVXUIDFHGH XWLOLVpDYHFFHWDSSDUHLO
FXLVVRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
² (PSODFHPHQWOLEUHGHVFDVVHUROHV SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
² 7RXWHVOHVWDLOOHVHWIRUPHVGH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² (FUDQ7)7RIIUHXQHJHVWLRQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV &RQFHUQDQWOHVDXWUHVPDWpULDX[
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV GHWUDYDLO
6DQVFDGUH FDVVHUROHV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
UpFLSLHQWVMXVTX
jN: GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
/HSUL[FRPSUHQG ² 6DQVFDGUHSRXUHQFDVWUHPHQWj O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
VHQVRUGHFXLVVRQ IOHXUGHSODQ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
HQFRQVLGpUDWLRQ
$FFHVVRLUHVHQRSWLRQ =RQHVGHFXLVVRQ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
&$ ࡱ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
6HQVRUGHFXLVVRQ ࡱ+7 GHFPò XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
SRXUUpJODJHGHOD -XVTX
jUpFLSLHQWVSHXYHQWrWUH SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
WHPSpUDWXUHGDQVOHVFDVVHUROHV XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH SDUOHGHVVRXV
*1 ࡱ FXLVVRQ /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
7HSSDQ<DNLFRPSRVp ࡱ+7 /
pSDLVVHXUGXMRLQWSHXWYDULHU
GHSOXVLHXUVFRXFKHVGHPpWDO %DQGHDXGHFRPPDQGH HQIRQFWLRQGHVWROpUDQFHVGHOD
*DVWUR1RUP (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ YLWURFpUDPLTXHHWGHODGpFRXSHGX
3RXUWDEOHLQGXFWLRQ)XOO=RQH LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH SODQGHWUDYDLO
/[+[3[[PP GHVRSpUDWLRQV 3RLGVGHO
DSSDUHLOHQYLUNJ
*1 ࡱ &RQWU{OHpOHFWURQLTXHDYHF
7HSSDQ<DNLFRPSRVp ࡱ+7 SRVLWLRQVGHFXLVVRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
GHSOXVLHXUVFRXFKHVGHPpWDO HQSDJH
*DVWUR1RUP &DUDFWpULVWLTXHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ6HQVRUGHFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW
/[+[3[[PP )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
)RQFWLRQ&XLVVRQ'\QDPLTXH N:
&RPELQDEOHDYHF )RQFWLRQ7HSSDQ<DNL &kEOHGHUDFFRUGHPHQWPVDQV
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV SULVH
+RWWHGHSODQGHWUDYDLO6pULHHW )RQFWLRQ%RRVWHUSRXUSRrOHV
6pULH )RQFWLRQ0DLQWLHQDXFKDXG
+RWWHvORWHWKRWWHPXUDOH6pULHHW 'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV
6pULH 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH
+RWWHWLURLU6pULH UpFLSLHQW
*URXSHILOWUDQW6pULH &KURQRPqWUH
0LQXWHULHLQGpSHQGDQWH
%RQjVDYRLU 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 5pJXODWHXUG
pQHUJLH
GHFXLVVRQRXDXPLQLPXPGHODPrPH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
ODUJHXUTXHOHSODQGHFXLVVRQ UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
0HUFLGHFRQVXOWHUOHVFRQVHLOV KRWWHFRPSDWLEOH
G
LQVWDOODWLRQGDQVOHFKDSLWUH
$SSDUHLOVG
DVSLUDWLRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
&; GHWUDYDLORXjIOHXUGHSODQUHVSHFWHU
OHVVSpFLILFLWpVGHVGpFRXSHV
² 8QHVHXOHJUDQGHVXUIDFHGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
FXLVVRQ 9DULR6pULHXQHEDUUHWWHGH
² (PSODFHPHQWOLEUHGHVFDVVHUROHV MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
² 7RXWHVOHVWDLOOHVHWIRUPHVGH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² (FUDQ7)7RIIUHXQHJHVWLRQ G
LQVWDOODWLRQ
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&DGUHLQR[ FDVVHUROHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
UpFLSLHQWVMXVTX
jN: HQFRQVLGpUDWLRQ
/HSUL[FRPSUHQG ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
VHQVRUGHFXLVVRQ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
XQHJUDQGHSUpFLVLRQ WUDYDLO
$FFHVVRLUHVG
LQVWDOODWLRQ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
9$ ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SOXVLHXUVDSSDUHLOV9DULR6pULH 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9$ ࡱ &RQFHUQDQWOHVDXWUHVPDWpULDX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ GHWUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR GHFPò /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
6pULH -XVTX
jUpFLSLHQWVSHXYHQWrWUH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
$FFHVVRLUHVHQRSWLRQ FXLVVRQ SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&$ ࡱ SDUOHGHVVRXV
6HQVRUGHFXLVVRQ ࡱ+7 %DQGHDXGHFRPPDQGH /DODUJHXUGHODMRQFWLRQGpSHQGGH
SRXUUpJODJHGHOD (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
WHPSpUDWXUHGDQVOHVFDVVHUROHV LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH GpFRXSHGXSODQGHWUDYDLO
*1 ࡱ GHVRSpUDWLRQV 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
7HSSDQ<DNLFRPSRVp ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHSOXVLHXUVFRXFKHVGHPpWDO SRVLWLRQVGHFXLVVRQ ODLVVHUXQHVSDFHPLQLPXPGHPP
*DVWUR1RUP HQWUHOHVGpFRXSHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH &DUDFWpULVWLTXHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
/[+[3[[PP )RQFWLRQ6HQVRUGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
*1 ࡱ )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /H:RN:3QHSHXWSDVrWUH
7HSSDQ<DNLFRPSRVp ࡱ+7 )RQFWLRQ&XLVVRQ'\QDPLTXH XWLOLVpDYHFFHWDSSDUHLO
GHSOXVLHXUVFRXFKHVGHPpWDO )RQFWLRQ7HSSDQ<DNL /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
*DVWUR1RUP )RQFWLRQ%RRVWHUSRXUFDVVHUROHV WUDYDLOSDUOHGHVVXV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ%RRVWHUSRXUSRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
/[+[3[[PP )RQFWLRQ0DLQWLHQDXFKDXG
'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
&RPELQDEOHDYHF 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH HQSDJH
+RWWHVGHSODIRQG6pULHHW6pULH UpFLSLHQW
+RWWHGHSODQGHWUDYDLO6pULH &KURQRPqWUH 9DOHXUVGHUDFFRUGHPHQW
+RWWHvORWHWKRWWHPXUDOH6pULH 0LQXWHULHLQGpSHQGDQWH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
HW6pULH 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ N:
+RWWHWLURLU6pULH 5pJXODWHXUG
pQHUJLH &kEOHGHUDFFRUGHPHQWPVDQV
*URXSHILOWUDQW6pULH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH SULVH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
%RQjVDYRLU KRWWHFRPSDWLEOH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
ODUJHXUTXHOHSODQGHFXLVVRQ PRGH'LJLWDO+RPH&RQQHFW
0HUFLGHFRQVXOWHUOHVFRQVHLOV /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
G
LQVWDOODWLRQGDQVOHFKDSLWUH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
$SSDUHLOVG
DVSLUDWLRQ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
&;,QWpJUDWLRQFODVVLTXH &;,QWpJUDWLRQjIOHXUGHSODQ
5Ă
5Ă
$
5Ă
Ă
Ă
Ă Ă
Ă
0HVXUHVHQPP 0HVXUHVHQPP
0HVXUHVHQPP
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
&; GHFXLVLQHjIRQGPDJQpWLTXH
/H:RN:3QHSHXWSDVrWUH
² 8QHVHXOHJUDQGHVXUIDFHGH XWLOLVpDYHFFHWDSSDUHLO
FXLVVRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
² (PSODFHPHQWOLEUHGHVFDVVHUROHV SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
² 7RXWHVOHVWDLOOHVHWIRUPHVGH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
² (FUDQ7)7RIIUHXQHJHVWLRQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV &RQFHUQDQWOHVDXWUHVPDWpULDX[
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV GHWUDYDLO
6DQVFDGUH FDVVHUROHV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
UpFLSLHQWVMXVTX
jN: GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
/HSUL[FRPSUHQG ² 6DQVFDGUHSRXUHQFDVWUHPHQW O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
VHQVRUGHFXLVVRQ jIOHXUGHSODQ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
HQFRQVLGpUDWLRQ
$FFHVVRLUHVHQRSWLRQ =RQHVGHFXLVVRQ /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
&$ ࡱ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
6HQVRUGHFXLVVRQ ࡱ+7 GHFPò XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW
SRXUUpJODJHGHOD -XVTX
jUpFLSLHQWVSHXYHQWrWUH 1HSDVXWLOLVHUGHMRLQWVGH
WHPSpUDWXUHGDQVOHVFDVVHUROHV XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH UHJDUQLVVDJHSDUOHGHVVRXV
*1 ࡱ FXLVVRQ /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
7HSSDQ<DNLFRPSRVp ࡱ+7 /
pSDLVVHXUGXMRLQWSHXWYDULHU
GHSOXVLHXUVFRXFKHVGHPpWDO %DQGHDXGHFRPPDQGH HQIRQFWLRQGHVWROpUDQFHVGHOD
*DVWUR1RUP (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ YLWURFpUDPLTXHHWGHODGpFRXSHGX
3RXUWDEOHLQGXFWLRQ)XOO=RQH LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH SODQGHWUDYDLO
/[+[3[[PP GHVRSpUDWLRQV 3RLGVGHO
DSSDUHLOHQYLUNJ
*1 ࡱ &RQWU{OHpOHFWURQLTXHDYHF
7HSSDQ<DNLFRPSRVp ࡱ+7 SRVLWLRQVGHFXLVVRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
GHSOXVLHXUVFRXFKHVGHPpWDO HQSDJH
*DVWUR1RUP &DUDFWpULVWLTXHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ6HQVRUGHFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW
/[+[3[[PP )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
)RQFWLRQ&XLVVRQ'\QDPLTXH N:
&RPELQDEOHDYHF )RQFWLRQ7HSSDQ<DNL &kEOHGHUDFFRUGHPHQWPVDQV
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV SULVH
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ%RRVWHUSRXUSRrOHV
HW6pULH )RQFWLRQ0DLQWLHQDXFKDXG
+RWWHvORWHWKRWWHPXUDOH6pULH 'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV
HW6pULH 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH
+RWWHWLURLU6pULH UpFLSLHQW
*URXSHILOWUDQW6pULH &KURQRPqWUH
0LQXWHULHLQGpSHQGDQWH
%RQjVDYRLU 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 5pJXODWHXUG
pQHUJLH
GHFXLVVRQRXDXPLQLPXPGHODPrPH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
ODUJHXUTXHOHSODQGHFXLVVRQ UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
0HUFLGHFRQVXOWHUOHVFRQVHLOVG
LQVWDO KRWWHFRPSDWLEOH
ODWLRQGDQVOHFKDSLWUH$SSDUHLOV
G
DVSLUDWLRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ)XOO=RQH &RQVHLOVG
LQVWDOODWLRQ
6pULH 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
&; GHWUDYDLORXjIOHXUGHSODQUHVSHFWHU
OHVVSpFLILFLWpVGHVGpFRXSHV
² 8QHVHXOHJUDQGHVXUIDFHGH /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
FXLVVRQ 9DULR6pULHXQHEDUUHWWHGH
² (PSODFHPHQWOLEUHGHVFDVVHUROHV MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
² 7RXWHVOHVWDLOOHVHWIRUPHVGH FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
FDVVHUROHVSHXYHQWrWUHXWLOLVpHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
² (FUDQ7)7RIIUHXQHJHVWLRQ G
LQVWDOODWLRQ
&; ࡱ LQWXLWLYHGHWRXWHVOHVIRQFWLRQV /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
'HVVXVYHUUH ࡱ+7 ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
YLWURFpUDPLTXHQRLU FRQWU{OHGHODWHPSpUDWXUHGDQVOHV DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
&DGUHLQR[ FDVVHUROHV GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
/DUJHXUFP ² 3XLVVDQFHPD[UHVWLWXpHSRXUJURV GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
UpFLSLHQWVMXVTX
jN: HQFRQVLGpUDWLRQ
/HSUL[FRPSUHQG ² &DGUHHQLQR[PDVVLIG
XQH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
VHQVRUGHFXLVVRQ pSDLVVHXUGHPPWUDYDLOOpDYHF XQHLQVWDOODWLRQjIOHXUGHSODQGH
XQHJUDQGHSUpFLVLRQ WUDYDLO
$FFHVVRLUHVG
LQVWDOODWLRQ ² 3HXWrWUHLQVWDOOpVXUOHSODQGH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
9$ ࡱ WUDYDLODYHFFDGUHDSSDUHQWRXj SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
%DUUHWWHGHMRQFWLRQ ࡱ+7 IOHXUGHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
SRXULQVWDOODWLRQjIOHXUGHSODQGH ² 6HFRPELQHSDUIDLWHPHQWDYHFOHV UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
SOXVLHXUVDSSDUHLOV9DULR6pULH 9DULRGHOD6pULH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
9$ ࡱ &RQFHUQDQWOHVDXWUHVPDWpULDX[
%DUUHWWHGHMRQFWLRQ ࡱ+7 =RQHVGHFXLVVRQ YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ 8QHVHXOHJUDQGHVXUIDFHGHFXLVVRQ GHWUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR GHFPò /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
6pULH -XVTX
jUpFLSLHQWVSHXYHQWrWUH QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
XWLOLVpVVLPXOWDQpPHQWVXUODWDEOHGH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
$FFHVVRLUHVHQRSWLRQ FXLVVRQ SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&$ ࡱ SDUOHGHVVRXV
6HQVRUGHFXLVVRQ ࡱ+7 %DQGHDXGHFRPPDQGH /DODUJHXUGHODMRQFWLRQGpSHQGGH
SRXUUpJODJHGHOD (FUDQ7)7FRXOHXUSRXUXQHJHVWLRQ ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
WHPSpUDWXUHGDQVOHVFDVVHUROHV LQWXLWLYHGHVIRQFWLRQVDYHFDIILFKDJH GpFRXSHGXSODQGHWUDYDLO
*1 ࡱ GHVRSpUDWLRQV 'DQVOHFDVG
LQVWDOODWLRQGHSOXVLHXUV
7HSSDQ<DNLFRPSRVp ࡱ+7 &RQWU{OHpOHFWURQLTXHDYHF 9DULRGDQVGHVGpFRXSHVLQGLYLGXHOOHV
GHSOXVLHXUVFRXFKHVGHPpWDO SRVLWLRQVGHFXLVVRQ ODLVVHUXQHVSDFHPLQLPXPGHPP
*DVWUR1RUP HQWUHOHVGpFRXSHV
3RXUWDEOHLQGXFWLRQ)XOO=RQH &DUDFWpULVWLTXHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
/[+[3[[PP )RQFWLRQ6HQVRUGHFXLVVRQ FXLVLQHjIRQGPDJQpWLTXH
*1 ࡱ )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /H:RN:3QHSHXWSDVrWUH
7HSSDQ<DNLFRPSRVp ࡱ+7 )RQFWLRQ&XLVVRQ'\QDPLTXH XWLOLVpDYHFFHWDSSDUHLO
GHSOXVLHXUVFRXFKHVGHPpWDO )RQFWLRQ7HSSDQ<DNL /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
*DVWUR1RUP )RQFWLRQ%RRVWHUSRXUFDVVHUROHV WUDYDLOSDUOHGHVVXV
3RXUWDEOHLQGXFWLRQ)XOO=RQH )RQFWLRQ%RRVWHUSRXUSRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
/[+[3[[PP )RQFWLRQ0DLQWLHQDXFKDXG
'pWHFWLRQLQGLYLGXHOOHGHVUpFLSLHQWV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
&RPELQDEOHDYHF 0LQXWHULHFRXSHFLUFXLWSRXUFKDTXH HQSDJH
+RWWHVGHSODIRQG6pULHHW6pULH UpFLSLHQW
+RWWHGHSODQGHWUDYDLO6pULH &KURQRPqWUH 9DOHXUVGHUDFFRUGHPHQW
+RWWHvORWHWKRWWHPXUDOH6pULH 0LQXWHULHLQGpSHQGDQWH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
+RWWHWLURLU6pULH 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ N:
*URXSHILOWUDQW6pULH 5pJXODWHXUG
pQHUJLH &kEOHGHUDFFRUGHPHQWPVDQV
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH SULVH
%RQjVDYRLU UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ KRWWHFRPSDWLEOH
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV PRGH'LJLWDO+RPH&RQQHFW
G
LQVWDOODWLRQGDQVOHFKDSLWUH /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
$SSDUHLOVG
DVSLUDWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
)RQFWLRQ3DXVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
&;,QWpJUDWLRQFODVVLTXH &;,QWpJUDWLRQjIOHXUGHSODQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
&, PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
² 6DQVFDGUHSRXUHQFDVWUHPHQW &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
jIOHXUGHSODQ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ SD\VUHVSHFWLI
GHV]RQHVGHFXLVVRQV /HVVHUYLFHV+RPH&RQQHFWQHVRQW
UHFWDQJXODLUHV SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
² 3RVLWLRQQHPHQWOLEUHGHV 3OXVG
LQIRUPDWLRQVVXU
FDVVHUROHVVXUOHV]RQHVGH ZZZKRPHFRQQHFWFRP
&, ࡱ FXLVVRQFRPELQpHV
6DQVFDGUH ࡱ+7 ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 6pFXULWp
+RPH&RQQHFW SRXUXQHUpSDUWLWLRQGHODWDEOHHQ ,QWHUUXSWHXUSULQFLSDO
/DUJHXUFP ]RQHVGHFXLVVRQDYHF 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
SXLVVDQFHVGpILQLHV 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
$FFHVVRLUHVHQRSWLRQ ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH 7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
&$ ࡱ FRQWU{OHGHODWHPSpUDWXUHGDQVOHV 6pFXULWpHQIDQWV
7HSSDQ<DNLHQ ࡱ+7 FDVVHUROHV &RXSXUHGHVpFXULWp
PDWpULDXPXOWLFRXFKHV ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ FRQWU{OHGHODWHPSpUDWXUHGDQV &RQVHLOVG
LQVWDOODWLRQ
&$ ࡱ OHVSRrOHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
3ODTXHjJULOOHUHQ ࡱ+7 ² *UDQGH]RQHGHFXLVVRQSRXU GHFXLVLQHjIRQGPDJQpWLTXH
IRQWHG
DOXPLQLXP FDVVHUROHVMXVTX
j¡FP /H:RN:3QHSHXWSDVrWUH
5HYrWHPHQWDQWLDGKpUHQW ² &RPPDQGH7ZLVW3DGDYHFERXWRQ XWLOLVpDYHFFHWDSSDUHLO
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ PDJQpWLTXHDPRYLEOH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
&$ ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH 3RLGVGHO
DSSDUHLOHQYLUNJ
6HQVRUGHFXLVVRQ ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX
SRXUUpJODJHGHODWHPSpUDWXUHGDQV GLVSOD\ELFRORUH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
OHVFDVVHUROHV HQSDJH
&$ ࡱ =RQHVGHFXLVVRQ
%RXWRQPDJQpWLTXH ࡱ+7 =RQHGHGURLWH]RQHVGHFXLVVRQ 9DOHXUVGHUDFFRUGHPHQW
7ZLVW3DGQRLU )OH[,QGXFWLRQ[FP: 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
*3 ࡱ DYHF%RRVWHU:FRPELQDEOHV N:
3RrOH)U\LQJ6HQVRU ࡱ+7 HQ]RQH[FP:DYHF &kEOHGHUDFFRUGHPHQWPVDQV
HQLQR[ %RRVWHU: SULVH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH =RQHGHJDXFKH]RQHVGHFXLVVRQ
GHFXLVVRQFP )OH[,QGXFWLRQ[FP:
*3 ࡱ DYHF%RRVWHU:FRPELQDEOHV
3RrOH)U\LQJ6HQVRU ࡱ+7 HQ]RQH[FP:DYHF
HQLQR[ %RRVWHU:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH =RQHFHQWUDOH]RQHGHFXLVVRQ
GHFXLVVRQFP LQGXFWLRQFP:DYHF
*3 ࡱ %RRVWHU:H[WHQVLEOH
3RrOH)U\LQJ6HQVRU ࡱ+7 DXWRPDWLTXHPHQWHQFP
HQLQR[ :DYHF%RRVWHU:HW
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH FP:DYHF%RRVWHU:
GHFXLVVRQFP
*3 ࡱ %DQGHDXGHFRPPDQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
0DUTXDJHGHV]RQHVHWVXUIDFHVGH
&RPELQDEOHDYHF FXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
+RWWHVGHSODQGHWUDYDLO6pULHHW GHFXLVVRQ
6pULH
+RWWHvORWHWKRWWHPXUDOH6pULH &DUDFWpULVWLTXHV
+RWWHWLURLU6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
*URXSHILOWUDQW6pULH UHFWDQJXODLUHV
)RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
%RQjVDYRLU )RQFWLRQ6HQVRUGHFXLVVRQDYHF
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ DFFHVVRLUH&$
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ)U\LQJ6HQVRU
ODUJHXUTXHOHSODQGHFXLVVRQ )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV )RQFWLRQ%RRVWHUSRXUSRrOHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH )RQFWLRQ0DLQWLHQDXFKDXG
$SSDUHLOVG
DVSLUDWLRQ &KURQRPqWUH
&XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
&, PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
² (QFDGUHPHQWLQR[PDVVLI &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
GHV]RQHVGHFXLVVRQV SD\VUHVSHFWLI
UHFWDQJXODLUHV /HVVHUYLFHV+RPH&RQQHFWQHVRQW
² 3RVLWLRQQHPHQWOLEUHGHV SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
FDVVHUROHVVXUOHV]RQHVGH 3OXVG
LQIRUPDWLRQVVXU
FXLVVRQFRPELQpHV ZZZKRPHFRQQHFWFRP
&, ࡱ ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
&DGUHLQR[ࡱ+7 SRXUXQHUpSDUWLWLRQGHODWDEOHHQ 6pFXULWp
+RPH&RQQHFW ]RQHVGHFXLVVRQDYHF ,QWHUUXSWHXUSULQFLSDO
/DUJHXUFP SXLVVDQFHVGpILQLHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
$FFHVVRLUHVHQRSWLRQ FRQWU{OHGHODWHPSpUDWXUHGDQVOHV 7pPRLQGHFKDOHXUUpVLGXHOOHjQLYHDX[
&$ ࡱ FDVVHUROHV 6pFXULWpHQIDQWV
7HSSDQ<DNLHQ ࡱ+7 ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ &RXSXUHGHVpFXULWp
PDWpULDXPXOWLFRXFKHV FRQWU{OHGHODWHPSpUDWXUHGDQV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ OHVSRrOHV &RQVHLOVG
LQVWDOODWLRQ
&$ ࡱ ² *UDQGH]RQHGHFXLVVRQSRXU 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
3ODTXHjJULOOHUHQ ࡱ+7 FDVVHUROHVMXVTX
j¡FP GHFXLVLQHjIRQGPDJQpWLTXH
IRQWHG
DOXPLQLXP ² &RPPDQGH7ZLVW3DGDYHFERXWRQ /H:RN:3QHSHXWSDVrWUH
5HYrWHPHQWDQWLDGKpUHQW PDJQpWLTXHDPRYLEOH XWLOLVpDYHFFHWDSSDUHLO
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
&$ ࡱ WRXWHVOHVIRQFWLRQVJUkFHDX 3RLGVGHO
DSSDUHLOHQYLUNJ
6HQVRUGHFXLVVRQ ࡱ+7 GLVSOD\ELFRORUH
SRXUUpJODJHGHODWHPSpUDWXUHGDQV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
OHVFDVVHUROHV =RQHVGHFXLVVRQ HQSDJH
&$ ࡱ =RQHGHGURLWH]RQHVGHFXLVVRQ
%RXWRQPDJQpWLTXH ࡱ+7 )OH[,QGXFWLRQ[FP:DYHF 9DOHXUVGHUDFFRUGHPHQW
7ZLVW3DGQRLU %RRVWHU:FRPELQDEOHVHQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
*3 ࡱ ]RQH[FP:DYHF%RRVWHU N:
3RrOH)U\LQJ6HQVRU ࡱ+7 : &kEOHGHUDFFRUGHPHQWPVDQV
HQLQR[ =RQHGHJDXFKH]RQHVGHFXLVVRQ SULVH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )OH[,QGXFWLRQ[FP:DYHF
GHFXLVVRQFP %RRVWHU:FRPELQDEOHVHQ
*3 ࡱ ]RQH[FP:DYHF%RRVWHU
3RrOH)U\LQJ6HQVRU ࡱ+7 :
HQLQR[ =RQHGHFHQWUDOH]RQHGHFXLVVRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH LQGXFWLRQFP:DYHF
GHFXLVVRQFP %RRVWHU:H[WHQVLEOH
*3 ࡱ DXWRPDWLTXHPHQWHQFP
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHF%RRVWHU:
HQLQR[ HWFP:DYHF%RRVWHU
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH :
GHFXLVVRQFP
*3 ࡱ %DQGHDXGHFRPPDQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
0DUTXDJHGHV]RQHVHWVXUIDFHVGH
&RPELQDEOHDYHF FXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
+RWWHVGHSODQGHWUDYDLO6pULH GHFXLVVRQ
+RWWHvORWHWKRWWHPXUDOH6pULH
+RWWHWLURLU6pULH &DUDFWpULVWLTXHV
*URXSHILOWUDQW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
UHFWDQJXODLUHV
%RQjVDYRLU )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ6HQVRUGHFXLVVRQDYHF
GHFXLVVRQRXDXPLQLPXPGHODPrPH DFFHVVRLUH&$
ODUJHXUTXHOHSODQGHFXLVVRQ )RQFWLRQ)U\LQJ6HQVRU
0HUFLGHFRQVXOWHUOHVFRQVHLOV )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH )RQFWLRQ%RRVWHUSRXUSRrOHV
$SSDUHLOVG
DVSLUDWLRQ )RQFWLRQ0DLQWLHQDXFKDXG
&KURQRPqWUH
&XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 6pFXULWp
&, ,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² 6DQVFDGUHSRXUHQFDVWUHPHQW 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
jIOHXUGHSODQ 7pPRLQGHFKDOHXUUpVLGXHOOH
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ jQLYHDX[
GHV]RQHVGHFXLVVRQV 6pFXULWpHQIDQWV
UHFWDQJXODLUHV &RXSXUHGHVpFXULWp
² 3RVLWLRQQHPHQWOLEUHGHV
FDVVHUROHVVXUOHV]RQHVGH &RQVHLOVG
LQVWDOODWLRQ
FXLVVRQFRPELQpHV 8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
&, ࡱ ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH GHFXLVLQHjIRQGPDJQpWLTXH
6DQVFDGUH ࡱ+7 SRXUXQHUpSDUWLWLRQGHODWDEOHHQ /H:RN:3QHSHXWSDVrWUH
+RPH&RQQHFW ]RQHVGHFXLVVRQDYHF XWLOLVpDYHFFHWDSSDUHLO
/DUJHXUFP SXLVVDQFHVGpILQLHV /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH 3RLGVGHO
DSSDUHLOHQYLUNJ
$FFHVVRLUHVHQRSWLRQ FRQWU{OHGHODWHPSpUDWXUHGDQVOHV
&$ ࡱ FDVVHUROHV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
7HSSDQ<DNLHQ ࡱ+7 ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ HQSDJH
PDWpULDXPXOWLFRXFKHV FRQWU{OHGHODWHPSpUDWXUHGDQV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ OHVSRrOHV 9DOHXUVGHUDFFRUGHPHQW
&$ ࡱ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
3ODTXHjJULOOHUHQ ࡱ+7 PDJQpWLTXHDPRYLEOH &kEOHGHUDFFRUGHPHQWPVDQVSULVH
IRQWHG
DOXPLQLXP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH
5HYrWHPHQWDQWLDGKpUHQW WRXWHVOHVIRQFWLRQVJUkFHDX
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ GLVSOD\ELFRORUH
&$ ࡱ
6HQVRUGHFXLVVRQ ࡱ+7 =RQHVGHFXLVVRQ
SRXUUpJODJHGHODWHPSpUDWXUHGDQV ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ
OHVFDVVHUROHV [FP:DYHF%RRVWHU
&$ ࡱ :FRPELQDEOHVHQ]RQH
%RXWRQPDJQpWLTXH ࡱ+7 [FP:DYHF%RRVWHU
7ZLVW3DGQRLU :
*3 ࡱ ]RQHLQGXFWLRQFP:
3RrOH)U\LQJ6HQVRU ࡱ+7 DYHF%RRVWHU:
HQLQR[ ]RQHGHFXLVVRQLQGXFWLRQFP
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH :DYHF%RRVWHU:
GHFXLVVRQFP ]RQHGHFXLVVRQLQGXFWLRQFP
*3 ࡱ :DYHF%RRVWHU:
3RrOH)U\LQJ6HQVRU ࡱ+7
HQLQR[ %DQGHDXGHFRPPDQGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &RPPDQGH7ZLVW3DGDYHFERXWRQ
GHFXLVVRQFP PDJQpWLTXHDPRYLEOH
*3 ࡱ 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
3RrOH)U\LQJ6HQVRU ࡱ+7 JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
HQLQR[ 0DUTXDJHGHV]RQHVHWVXUIDFHVGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH FXLVVRQ
GHFXLVVRQFP 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
GHFXLVVRQ
&RPELQDEOHDYHF
+RWWHVGHSODIRQG6pULHHW6pULH &DUDFWpULVWLTXHV
+RWWHGHSODQGHWUDYDLO6pULHHW )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
6pULH UHFWDQJXODLUHV
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
+RWWHvORWHWPXUDOH6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
$,$: DFFHVVRLUH&$
+RWWHWLURLU6pULH )RQFWLRQ)U\LQJ6HQVRU
*URXSHILOWUDQW6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
)RQFWLRQ%RRVWHUSRXUSRrOHV
%RQjVDYRLU )RQFWLRQ0DLQWLHQDXFKDXG
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &KURQRPqWUH
GHFXLVVRQRXDXPLQLPXPGHODPrPH &XLVVRQVSURJUDPPDEOHVMXVTX
j
ODUJHXUTXHOHSODQGHFXLVVRQ PLQXWHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0LQXWHULHLQGpSHQGDQWH
G
LQVWDOODWLRQGDQVOHFKDSLWUH 0HQXG
RSWLRQVSHUVRQQDOLVpHV
$SSDUHLOVG
DVSLUDWLRQ 5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 6pFXULWp
&, ,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² (QFDGUHPHQWLQR[PDVVLI 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ 7pPRLQGHFKDOHXUUpVLGXHOOHj
GHV]RQHVGHFXLVVRQV QLYHDX[
UHFWDQJXODLUHV 6pFXULWpHQIDQWV
² 3RVLWLRQQHPHQWOLEUHGHV &RXSXUHGHVpFXULWp
FDVVHUROHVVXUOHV]RQHVGH
FXLVVRQFRPELQpHV &RQVHLOVG
LQVWDOODWLRQ
² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&, ࡱ SRXUXQHUpSDUWLWLRQGHODWDEOHHQ FXLVLQHjIRQGPDJQpWLTXH
&DGUHLQR[ ࡱ+7 ]RQHVGHFXLVVRQDYHF /H:RN:3QHSHXWSDVrWUH
+RPH&RQQHFW SXLVVDQFHVGpILQLHV XWLOLVpDYHFFHWDSSDUHLO
/DUJHXUFP ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
$FFHVVRLUHVHQRSWLRQ FDVVHUROHV
&$ ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
7HSSDQ<DNLHQ ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV HQSDJH
PDWpULDXPXOWLFRXFKHV SRrOHV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ 9DOHXUVGHUDFFRUGHPHQW
&$ ࡱ PDJQpWLTXHDPRYLEOH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
3ODTXHjJULOOHUHQ ࡱ+7 ² 6pOHFWLRQHWUpJODJHIDFLOHVGH &kEOHGHUDFFRUGHPHQWPVDQVSULVH
IRQWHG
DOXPLQLXP WRXWHVOHVIRQFWLRQVJUkFHDX
5HYrWHPHQWDQWLDGKpUHQW GLVSOD\ELFRORUH
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ
&$ ࡱ =RQHVGHFXLVVRQ
6HQVRUGHFXLVVRQ ࡱ+7 ]RQHVGHFXLVVRQ)OH[,QGXFWLRQ
SRXUUpJODJHGHODWHPSpUDWXUHGDQV [FP:DYHF%RRVWHU
OHVFDVVHUROHV :FRPELQDEOHVHQ]RQH
&$ ࡱ [FP:DYHF%RRVWHU
%RXWRQPDJQpWLTXH ࡱ+7 :
7ZLVW3DGQRLU ]RQHLQGXFWLRQFP:
*3 ࡱ DYHF%RRVWHU:
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHGHFXLVVRQLQGXFWLRQFP
HQLQR[ :DYHF%RRVWHU:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH ]RQHGHFXLVVRQLQGXFWLRQFP
GHFXLVVRQFP :DYHF%RRVWHU:
*3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7 %DQGHDXGHFRPPDQGH
HQLQR[ &RPPDQGH7ZLVW3DGDYHFERXWRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH PDJQpWLTXHDPRYLEOH
GHFXLVVRQFP 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
*3 ࡱ JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
3RrOH)U\LQJ6HQVRU ࡱ+7 0DUTXDJHGHV]RQHVHWVXUIDFHVGH
HQLQR[ FXLVVRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
GHFXLVVRQFP GHFXLVVRQ
&RPELQDEOHDYHF &DUDFWpULVWLTXHV
+RWWHVGHSODIRQG6pULHHW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHGHSODQGHWUDYDLO6pULH UHFWDQJXODLUHV
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
$,$: DFFHVVRLUH&$
+RWWHWLURLU6pULH )RQFWLRQ)U\LQJ6HQVRU
*URXSHILOWUDQW6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
)RQFWLRQ%RRVWHUSRXUSRrOHV
%RQjVDYRLU )RQFWLRQ0DLQWLHQDXFKDXG
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &KURQRPqWUH
GHFXLVVRQRXDXPLQLPXPGHODPrPH &XLVVRQVSURJUDPPDEOHVMXVTX
j
ODUJHXUTXHOHSODQGHFXLVVRQ PLQXWHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0LQXWHULHLQGpSHQGDQWH
G
LQVWDOODWLRQGDQVOHFKDSLWUH 0HQXG
RSWLRQVSHUVRQQDOLVpHV
$SSDUHLOVG
DVSLUDWLRQ 5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 6pFXULWp
&, ,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² 6DQVFDGUHSRXUHQFDVWUHPHQW 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
jIOHXUGHSODQ 7pPRLQGHFKDOHXUUpVLGXHOOHj
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ QLYHDX[
GHV]RQHVGHFXLVVRQVUHFWDQJXODLUHV 6pFXULWpHQIDQWV
² 3RVLWLRQQHPHQWOLEUHGHV &RXSXUHGHVpFXULWp
FDVVHUROHVVXUOHV]RQHVGH
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ &RQVHLOVG
LQVWDOODWLRQ
DXWRPDWLTXHMXVTX
jODUJHXUFP 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
&, ࡱ ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH FXLVLQHjIRQGPDJQpWLTXH
6DQVFDGUH ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /H:RN:3QHSHXWSDVrWUH
+RPH&RQQHFW FDVVHUROHV XWLOLVpDYHFFHWDSSDUHLO
/DUJHXUFP ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
SRXUXQHUpSDUWLWLRQGHODWDEOH 3RLGVGHO
DSSDUHLOHQYLUNJ
$FFHVVRLUHVHQRSWLRQ HQ]RQHVGHFXLVVRQDYHF
&$ ࡱ SXLVVDQFHVGpILQLHV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
7HSSDQ<DNLHQ ࡱ+7 ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ HQSDJH
PDWpULDXPXOWLFRXFKHV FRQWU{OHGHODWHPSpUDWXUHGDQV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ OHVSRrOHV 9DOHXUVGHUDFFRUGHPHQW
&$ ࡱ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
3ODTXHjJULOOHUHQ ࡱ+7 PDJQpWLTXHDPRYLEOH N:
IRQWHG
DOXPLQLXP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH &kEOHGHUDFFRUGHPHQWPVDQV
5HYrWHPHQWDQWLDGKpUHQW WRXWHVOHVIRQFWLRQVJUkFHDX SULVH
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ GLVSOD\ELFRORUH 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
&$ ࡱ UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
6HQVRUGHFXLVVRQ ࡱ+7 =RQHVGHFXLVVRQ
SRXUUpJODJHGHODWHPSpUDWXUHGDQV =RQHGHGURLWH]RQHVGHFXLVVRQ
OHVFDVVHUROHV )OH[,QGXFWLRQ[FP:DYHF
&$ ࡱ %RRVWHU:FRPELQDEOHVHQ]RQH
%RXWRQPDJQpWLTXH ࡱ+7 [FP:DYHF%RRVWHU
7ZLVW3DGQRLU :DYHFH[WHQVLRQDXWRPDWLTXH
*3 ࡱ MXVTX
j[FP:DYHF
3RrOH)U\LQJ6HQVRU ࡱ+7 %RRVWHU:
HQLQR[ =RQHGHJDXFKH]RQHVGHFXLVVRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )OH[,QGXFWLRQ[FP:DYHF
GHFXLVVRQFP %RRVWHU:FRPELQDEOHVHQ]RQH
*3 ࡱ [FP:DYHF%RRVWHU
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHFH[WHQVLRQDXWRPDWLTXH
HQLQR[ MXVTX
j[FP:DYHF
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %RRVWHU:
GHFXLVVRQFP
*3 ࡱ %DQGHDXGHFRPPDQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
*3 ࡱ 0DUTXDJHGHV]RQHVHWVXUIDFHV
3RrOH)U\LQJ6HQVRU ࡱ+7 GHFXLVVRQ
HQLQR[ 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH GHFXLVVRQ
GHFXLVVRQFP
&DUDFWpULVWLTXHV
&RPELQDEOHDYHF )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH UHFWDQJXODLUHV
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
+RWWHvORWHWKRWWHPXUDOH6pULH DFFHVVRLUH&$
$,$: )RQFWLRQ)U\LQJ6HQVRU
+RWWHWLURLU6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
*URXSHILOWUDQW6pULH )RQFWLRQ%RRVWHUSRXUSRrOHV
)RQFWLRQ0DLQWLHQDXFKDXG
%RQjVDYRLU &KURQRPqWUH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &XLVVRQVSURJUDPPDEOHVMXVTX
j
GHFXLVVRQRXDXPLQLPXPGHODPrPH PLQXWHV
ODUJHXUTXHOHSODQGHFXLVVRQ 0LQXWHULHLQGpSHQGDQWH
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0HQXG
RSWLRQVSHUVRQQDOLVpHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH 5pJXODWHXUG
pQHUJLH
$SSDUHLOVG
DVSLUDWLRQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQLQGXFWLRQ6pULH /HVVHUYLFHV+RPH&RQQHFWQHVRQW
&, SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
3OXVG
LQIRUPDWLRQVVXU
² (QFDGUHPHQWLQR[PDVVLI ZZZKRPHFRQQHFWFRP
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ
GHV]RQHVGHFXLVVRQV 6pFXULWp
UHFWDQJXODLUHV ,QWHUUXSWHXUSULQFLSDO
² 3RVLWLRQQHPHQWOLEUHGHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
FDVVHUROHVVXUOHV]RQHVGH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ 7pPRLQGHFKDOHXUUpVLGXHOOHj
DXWRPDWLTXHMXVTX
jODUJHXUFP QLYHDX[
&, ࡱ ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH 6pFXULWpHQIDQWV
&DGUHLQR[ ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV &RXSXUHGHVpFXULWp
+RPH&RQQHFW FDVVHUROHV
/DUJHXUFP ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH &RQVHLOVG
LQVWDOODWLRQ
SRXUXQHUpSDUWLWLRQGHODWDEOHHQ 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
$FFHVVRLUHVHQRSWLRQ ]RQHVGHFXLVVRQDYHF FXLVLQHjIRQGPDJQpWLTXH
&$ ࡱ SXLVVDQFHVGpILQLHV /H:RN:3QHSHXWSDVrWUH
7HSSDQ<DNLHQ ࡱ+7 ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ XWLOLVpDYHFFHWDSSDUHLO
PDWpULDXPXOWLFRXFKHV FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ SRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
&$ ࡱ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ
3ODTXHjJULOOHUHQ ࡱ+7 PDJQpWLTXHDPRYLEOH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
IRQWHG
DOXPLQLXP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH HQSDJH
5HYrWHPHQWDQWLDGKpUHQW WRXWHVOHVIRQFWLRQVJUkFHDX
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ GLVSOD\ELFRORUH 9DOHXUVGHUDFFRUGHPHQW
&$ ࡱ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
6HQVRUGHFXLVVRQ ࡱ+7 =RQHVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQVSULVH
SRXUUpJODJHGHODWHPSpUDWXUHGDQV =RQHGHGURLWH]RQHVGHFXLVVRQ
OHVFDVVHUROHV )OH[,QGXFWLRQ[FP:
&$ ࡱ DYHF%RRVWHU:FRPELQDEOHV
%RXWRQPDJQpWLTXH ࡱ+7 HQ]RQH[FP:DYHF
7ZLVW3DGQRLU %RRVWHU:DYHFH[WHQVLRQ
*3 ࡱ DXWRPDWLTXHMXVTX
j[FP:
3RrOH)U\LQJ6HQVRU ࡱ+7 DYHF%RRVWHU:
HQLQR[ =RQHGHJDXFKH]RQHVGHFXLVVRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )OH[,QGXFWLRQ[FP:
GHFXLVVRQFP DYHF%RRVWHU:FRPELQDEOHV
*3 ࡱ HQ]RQH[FP:DYHF
3RrOH)U\LQJ6HQVRU ࡱ+7 %RRVWHU:DYHFH[WHQVLRQ
HQLQR[ DXWRPDWLTXHMXVTX
j[FP:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH DYHF%RRVWHU:
GHFXLVVRQFP
*3 ࡱ %DQGHDXGHFRPPDQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
*3 ࡱ 0DUTXDJHGHV]RQHVHWVXUIDFHVGH
3RrOH)U\LQJ6HQVRU ࡱ+7 FXLVVRQ
HQLQR[ 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH GHFXLVVRQ
GHFXLVVRQFP
&DUDFWpULVWLTXHV
&RPELQDEOHDYHF )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH UHFWDQJXODLUHV
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
+RWWHvORWHWKRWWHPXUDOH6pULH DFFHVVRLUH&$
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
$,$: )RQFWLRQ)U\LQJ6HQVRU
+RWWHWLURLU6pULH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
*URXSHILOWUDQW6pULH )RQFWLRQ%RRVWHUSRXUSRrOHV
)RQFWLRQ0DLQWLHQDXFKDXG
%RQjVDYRLU &KURQRPqWUH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &XLVVRQVSURJUDPPDEOHVMXVTX
j
GHFXLVVRQRXDXPLQLPXPGHODPrPH PLQXWHV
ODUJHXUTXHOHSODQGHFXLVVRQ 0LQXWHULHLQGpSHQGDQWH
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0HQXG
RSWLRQVSHUVRQQDOLVpHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH 5pJXODWHXUG
pQHUJLH
$SSDUHLOVG
DVSLUDWLRQ &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH /HVVHUYLFHV+RPH&RQQHFWQHVRQW
&, SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
3OXVG
LQIRUPDWLRQVVXU
² 6DQVFDGUHSRXUHQFDVWUHPHQWj ZZZKRPHFRQQHFWFRP
IOHXUGHSODQ
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ 6pFXULWp
GHV]RQHVGHFXLVVRQV ,QWHUUXSWHXUSULQFLSDO
UHFWDQJXODLUHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² 3RVLWLRQQHPHQWOLEUHGHV 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
FDVVHUROHVVXUOHV]RQHVGH 7pPRLQGHFKDOHXUUpVLGXHOOHj
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ QLYHDX[
DXWRPDWLTXHMXVTX
jODUJHXUFP 6pFXULWpHQIDQWV
&, ࡱ ² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH &RXSXUHGHVpFXULWp
6DQVFDGUHࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV
+RPH&RQQHFW FDVVHUROHV &RQVHLOVG
LQVWDOODWLRQ
/DUJHXUFP ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
SRXUXQHUpSDUWLWLRQGHODWDEOHHQ FXLVLQHjIRQGPDJQpWLTXH
$FFHVVRLUHVHQRSWLRQ ]RQHVGHFXLVVRQDYHF /H:RN:3QHSHXWSDVrWUH
&$ ࡱ SXLVVDQFHVGpILQLHV XWLOLVpDYHFFHWDSSDUHLO
7HSSDQ<DNLHQ ࡱ+7 ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
PDWpULDXPXOWLFRXFKHV FRQWU{OHGHODWHPSpUDWXUHGDQV 3RLGVGHO
DSSDUHLOHQYLUNJ
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ OHVSRrOHV
&$ ࡱ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
3ODTXHjJULOOHUHQ ࡱ+7 PDJQpWLTXHDPRYLEOH HQSDJH
IRQWHG
DOXPLQLXP ² 6pOHFWLRQHWUpJODJHIDFLOHVGH
5HYrWHPHQWDQWLDGKpUHQW WRXWHVOHVIRQFWLRQVJUkFHDX 9DOHXUVGHUDFFRUGHPHQW
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ GLVSOD\ELFRORUH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
&$ ࡱ &kEOHGHUDFFRUGHPHQWPVDQVSULVH
6HQVRUGHFXLVVRQ ࡱ+7 =RQHVGHFXLVVRQ 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
SRXUUpJODJHGHODWHPSpUDWXUHGDQV =RQHGHGURLWH]RQHVGHFXLVVRQ UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
OHVFDVVHUROHV )OH[,QGXFWLRQ[FP:DYHF
&$ ࡱ %RRVWHU:FRPELQDEOHVHQ
%RXWRQPDJQpWLTXH ࡱ+7 ]RQH[FP:DYHF%RRVWHU
7ZLVW3DGQRLU :DYHFH[WHQVLRQDXWRPDWLTXH
*3 ࡱ MXVTX
j[FP:DYHF
3RrOH)U\LQJ6HQVRU ࡱ+7 %RRVWHU:
HQLQR[ =RQHGHJDXFKH]RQHVGHFXLVVRQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH )OH[,QGXFWLRQ[FP:DYHF
GHFXLVVRQFP %RRVWHU:FRPELQDEOHVHQ
*3 ࡱ ]RQH[FP:DYHF%RRVWHU
3RrOH)U\LQJ6HQVRU ࡱ+7 :DYHFH[WHQVLRQDXWRPDWLTXH
HQLQR[ MXVTX
j[FP:DYHF
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %RRVWHU:
GHFXLVVRQFP
*3 ࡱ %DQGHDXGHFRPPDQGH
3RrOH)U\LQJ6HQVRU ࡱ+7 &RPPDQGH7ZLVW3DGDYHFERXWRQ
HQLQR[ PDJQpWLTXHDPRYLEOH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
GHFXLVVRQFP JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
0DUTXDJHGHV]RQHVHWVXUIDFHVGH
&RPELQDEOHDYHF FXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
+RWWHGHSODQGHWUDYDLO6pULH GHFXLVVRQ
+RWWHvORWHWKRWWHPXUDOH6pULH
HW6pULH &DUDFWpULVWLTXHV
+RWWHWLURLU6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
*URXSHILOWUDQW6pULH UHFWDQJXODLUHV
)RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
%RQjVDYRLU )RQFWLRQ6HQVRUGHFXLVVRQDYHF
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ DFFHVVRLUH&$
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ)U\LQJ6HQVRU
ODUJHXUTXHOHSODQGHFXLVVRQ )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV )RQFWLRQ%RRVWHUSRXUSRrOHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH )RQFWLRQ0DLQWLHQDXFKDXG
$SSDUHLOVG
DVSLUDWLRQ &KURQRPqWUH
&XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQLQGXFWLRQ6pULH /HVVHUYLFHV+RPH&RQQHFWQHVRQW
&, SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
3OXVG
LQIRUPDWLRQVVXU
² (QFDGUHPHQWLQR[PDVVLI ZZZKRPHFRQQHFWFRP
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ
GHV]RQHVGHFXLVVRQV 6pFXULWp
UHFWDQJXODLUHV ,QWHUUXSWHXUSULQFLSDO
² 3RVLWLRQQHPHQWOLEUHGHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
FDVVHUROHVVXUOHV]RQHVGH 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ 7pPRLQGHFKDOHXUUpVLGXHOOHj
DXWRPDWLTXHMXVTX
jODUJHXUFP QLYHDX[
² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH 6pFXULWpHQIDQWV
&, ࡱ FRQWU{OHGHODWHPSpUDWXUHGDQVOHV &RXSXUHGHVpFXULWp
&DGUHLQR[ ࡱ+7 FDVVHUROHV
+RPH&RQQHFW ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH &RQVHLOVG
LQVWDOODWLRQ
/DUJHXUFP SRXUXQHUpSDUWLWLRQGHODWDEOHHQ 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
]RQHVGHFXLVVRQDYHF FXLVLQHjIRQGPDJQpWLTXH
$FFHVVRLUHVHQRSWLRQ SXLVVDQFHVGpILQLHV /H:RN:3QHSHXWSDVrWUH
&$ ࡱ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ XWLOLVpDYHFFHWDSSDUHLO
7HSSDQ<DNLHQ ࡱ+7 FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
PDWpULDXPXOWLFRXFKHV SRrOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ² &RPPDQGH7ZLVW3DGDYHFERXWRQ
&$ ࡱ PDJQpWLTXHDPRYLEOH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
3ODTXHjJULOOHUHQ ࡱ+7 ² 6pOHFWLRQHWUpJODJHIDFLOHVGH HQSDJH
IRQWHG
DOXPLQLXP WRXWHVOHVIRQFWLRQVJUkFHDX
5HYrWHPHQWDQWLDGKpUHQW GLVSOD\ELFRORUH 9DOHXUVGHUDFFRUGHPHQW
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
&$ ࡱ =RQHVGHFXLVVRQ &kEOHGHUDFFRUGHPHQWPVDQVSULVH
6HQVRUGHFXLVVRQ ࡱ+7 =RQHGHGURLWH]RQHVGHFXLVVRQ 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
SRXUUpJODJHGHODWHPSpUDWXUHGDQV )OH[,QGXFWLRQ[FP: UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
OHVFDVVHUROHV DYHF%RRVWHU:FRPELQDEOHV
&$ ࡱ HQ]RQH[FP:DYHF
%RXWRQPDJQpWLTXH ࡱ+7 %RRVWHU:DYHFH[WHQVLRQ
7ZLVW3DGQRLU DXWRPDWLTXHMXVTX
j[FP
*3 ࡱ :DYHF%RRVWHU:
3RrOH)U\LQJ6HQVRU ࡱ+7 =RQHGHJDXFKH]RQHVGHFXLVVRQ
HQLQR[ )OH[,QGXFWLRQ[FP:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH DYHF%RRVWHU:FRPELQDEOHV
GHFXLVVRQFP HQ]RQH[FP:DYHF
*3 ࡱ %RRVWHU:DYHFH[WHQVLRQ
3RrOH)U\LQJ6HQVRU ࡱ+7 DXWRPDWLTXHMXVTX
j[FP
HQLQR[ :DYHF%RRVWHU:
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH
GHFXLVVRQFP %DQGHDXGHFRPPDQGH
*3 ࡱ &RPPDQGH7ZLVW3DGDYHFERXWRQ
3RrOH)U\LQJ6HQVRU ࡱ+7 PDJQpWLTXHDPRYLEOH
HQLQR[ 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
GHFXLVVRQFP 0DUTXDJHGHV]RQHVHWVXUIDFHVGH
FXLVVRQ
&RPELQDEOHDYHF 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
+RWWHVGHSODIRQG6pULHHW6pULH GHFXLVVRQ
+RWWHGHSODQGHWUDYDLO6pULH
+RWWHvORWHWKRWWHPXUDOH6pULH &DUDFWpULVWLTXHV
HW6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHWLURLU6pULH UHFWDQJXODLUHV
*URXSHILOWUDQW6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
)RQFWLRQ6HQVRUGHFXLVVRQDYHF
%RQjVDYRLU DFFHVVRLUH&$
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ)U\LQJ6HQVRU
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
ODUJHXUTXHOHSODQGHFXLVVRQ )RQFWLRQ%RRVWHUSRXUSRrOHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV )RQFWLRQ0DLQWLHQDXFKDXG
G
LQVWDOODWLRQGDQVOHFKDSLWUH &KURQRPqWUH
$SSDUHLOVG
DVSLUDWLRQ &XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH /HVVHUYLFHV+RPH&RQQHFWQHVRQW
&, SDVGLVSRQLEOHVGDQVWRXVOHVSD\V
3OXVG
LQIRUPDWLRQVVXU
² 6DQVFDGUHSRXUHQFDVWUHPHQWj ZZZKRPHFRQQHFWFRP
IOHXUGHSODQ
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ 6pFXULWp
GHV]RQHVGHFXLVVRQV ,QWHUUXSWHXUSULQFLSDO
UHFWDQJXODLUHV 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² 3RVLWLRQQHPHQWOLEUHGHV 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
FDVVHUROHVVXUOHV]RQHVGH 7pPRLQGHFKDOHXUUpVLGXHOOHj
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ QLYHDX[
DXWRPDWLTXHMXVTX
jODUJHXUFP 6pFXULWpHQIDQWV
² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH &RXSXUHGHVpFXULWp
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV
&, ࡱ FDVVHUROHV &RQVHLOVG
LQVWDOODWLRQ
6DQVFDGUHࡱ+7 ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
+RPH&RQQHFW SRXUXQHUpSDUWLWLRQGHODWDEOHHQ FXLVLQHjIRQGPDJQpWLTXH
/DUJHXUFP ]RQHVGHFXLVVRQDYHF /H:RN:3QHSHXWSDVrWUH
SXLVVDQFHVGpILQLHV XWLOLVpDYHFFHWDSSDUHLO
$FFHVVRLUHVHQRSWLRQ ² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
&$ ࡱ FRQWU{OHGHODWHPSpUDWXUHGDQVOHV 3RLGVGHO
DSSDUHLOHQYLUNJ
7HSSDQ<DNLHQ ࡱ+7 SRrOHV
PDWpULDXPXOWLFRXFKHV ² &RPPDQGH7ZLVW3DGDYHFERXWRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ PDJQpWLTXHDPRYLEOH HQSDJH
&$ ࡱ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH
3ODTXHjJULOOHUHQ ࡱ+7 WRXWHVOHVIRQFWLRQVJUkFHDX 9DOHXUVGHUDFFRUGHPHQW
IRQWHG
DOXPLQLXP GLVSOD\ELFRORUH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHN:
5HYrWHPHQWDQWLDGKpUHQW &kEOHGHUDFFRUGHPHQWPVDQVSULVH
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ =RQHVGHFXLVVRQ 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
&$ ࡱ =RQHGHGURLWH]RQHVGHFXLVVRQ UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
6HQVRUGHFXLVVRQ ࡱ+7 )OH[,QGXFWLRQ[FP:DYHF
SRXUUpJODJHGHODWHPSpUDWXUHGDQV %RRVWHU:FRPELQDEOHVHQ
OHVFDVVHUROHV ]RQH[FP:DYHF%RRVWHU
&$ ࡱ :DYHFH[WHQVLRQDXWRPDWLTXH
%RXWRQPDJQpWLTXH ࡱ+7 MXVTX
j[FP:DYHF
7ZLVW3DGQRLU %RRVWHU:
*3 ࡱ =RQHGHJDXFKH]RQHVGHFXLVVRQ
3RrOH)U\LQJ6HQVRU ࡱ+7 )OH[,QGXFWLRQ[FP:DYHF
HQLQR[ %RRVWHU:FRPELQDEOHVHQ
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH ]RQH[FP:DYHF%RRVWHU
GHFXLVVRQFP :DYHFH[WHQVLRQDXWRPDWLTXH
*3 ࡱ MXVTX
j[FP:DYHF
3RrOH)U\LQJ6HQVRU ࡱ+7 %RRVWHU:
HQLQR[
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %DQGHDXGHFRPPDQGH
GHFXLVVRQFP &RPPDQGH7ZLVW3DGDYHFERXWRQ
*3 ࡱ PDJQpWLTXHDPRYLEOH
3RrOH)U\LQJ6HQVRU ࡱ+7 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
HQLQR[ JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH 0DUTXDJHGHV]RQHVHWVXUIDFHVGH
GHFXLVVRQFP FXLVVRQ
&RQWU{OHpOHFWURQLTXHDYHF
&RPELQDEOHDYHF SRVLWLRQVGHFXLVVRQ
+RWWHVGHSODIRQG6pULHHW6pULH
+RWWHGHSODQGHWUDYDLO6pULH &DUDFWpULVWLTXHV
+RWWHvORWHWKRWWHPXUDOH6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
HW6pULH UHFWDQJXODLUHV
+RWWHWLURLU6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
*URXSHILOWUDQW6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
DFFHVVRLUH&$
%RQjVDYRLU )RQFWLRQ)U\LQJ6HQVRU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ%RRVWHUSRXUSRrOHV
ODUJHXUTXHOHSODQGHFXLVVRQ )RQFWLRQ0DLQWLHQDXFKDXG
0HUFLGHFRQVXOWHUOHVFRQVHLOV &KURQRPqWUH
G
LQVWDOODWLRQGDQVOHFKDSLWUH &XLVVRQVSURJUDPPDEOHVMXVTX
j
$SSDUHLOVG
DVSLUDWLRQ PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQLQGXFWLRQ6pULH 6pFXULWp
&, ,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
² (QFDGUHPHQWLQR[PDVVLI 'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
² )RQFWLRQ)OH[SRXUODFRPELQDLVRQ 7pPRLQGHFKDOHXUUpVLGXHOOH
GHV]RQHVGHFXLVVRQV jQLYHDX[
UHFWDQJXODLUHV 6pFXULWpHQIDQWV
² 3RVLWLRQQHPHQWOLEUHGHV &RXSXUHGHVpFXULWp
FDVVHUROHVVXUOHV]RQHVGH
FXLVVRQFRPELQpHVDYHFH[WHQVLRQ &RQVHLOVG
LQVWDOODWLRQ
DXWRPDWLTXHMXVTX
jODUJHXUFP 8QLTXHPHQWDGDSWpDX[XVWHQVLOHVGH
² )RQFWLRQ6HQVRUGHFXLVVRQSRXUOH FXLVLQHjIRQGPDJQpWLTXH
FRQWU{OHGHODWHPSpUDWXUHGDQVOHV /H:RN:3QHSHXWSDVrWUH
FDVVHUROHV XWLOLVpDYHFFHWDSSDUHLO
&, ࡱ ² )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH /
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
&DGUHLQR[ࡱ+7 SRXUXQHUpSDUWLWLRQGHODWDEOHHQ 3RLGVGHO
DSSDUHLOHQYLUNJ
+RPH&RQQHFW ]RQHVGHFXLVVRQDYHF
/DUJHXUFP SXLVVDQFHVGpILQLHV &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
² )RQFWLRQ)U\LQJ6HQVRUSRXUXQ HQSDJH
$FFHVVRLUHVHQRSWLRQ FRQWU{OHGHODWHPSpUDWXUHGDQV
&$ ࡱ OHVSRrOHV 9DOHXUVGHUDFFRUGHPHQW
7HSSDQ<DNLHQ ࡱ+7 ² &RPPDQGH7ZLVW3DGDYHFERXWRQ 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
PDWpULDXPXOWLFRXFKHV PDJQpWLTXHDPRYLEOH N:
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ ² 6pOHFWLRQHWUpJODJHIDFLOHVGH &kEOHGHUDFFRUGHPHQWPVDQV
&$ ࡱ WRXWHVOHVIRQFWLRQVJUkFHDX SULVH
3ODTXHjJULOOHUHQ ࡱ+7 GLVSOD\ELFRORUH 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
IRQWHG
DOXPLQLXP UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
5HYrWHPHQWDQWLDGKpUHQW =RQHVGHFXLVVRQ
3RXUWDEOHGHFXLVVRQ)OH[,QGXFWLRQ =RQHGHGURLWH]RQHVGHFXLVVRQ
&$ ࡱ )OH[,QGXFWLRQ[FP:
6HQVRUGHFXLVVRQ ࡱ+7 DYHF%RRVWHU:FRPELQDEOHV
SRXUUpJODJHGHODWHPSpUDWXUHGDQV HQ]RQH[FP:DYHF
OHVFDVVHUROHV %RRVWHU:DYHFH[WHQVLRQ
&$ ࡱ DXWRPDWLTXHMXVTX
j[FP
%RXWRQPDJQpWLTXH ࡱ+7 :DYHF%RRVWHU:
7ZLVW3DGQRLU =RQHGHJDXFKH]RQHVGHFXLVVRQ
*3 ࡱ )OH[,QGXFWLRQ[FP:
3RrOH)U\LQJ6HQVRU ࡱ+7 DYHF%RRVWHU:FRPELQDEOHV
HQLQR[ HQ]RQH[FP:DYHF
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH %RRVWHU:DYHFH[WHQVLRQ
GHFXLVVRQFP DXWRPDWLTXHMXVTX
j[FP
*3 ࡱ :DYHF%RRVWHU:
3RrOH)U\LQJ6HQVRU ࡱ+7
HQLQR[ %DQGHDXGHFRPPDQGH
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH &RPPDQGH7ZLVW3DGDYHFERXWRQ
GHFXLVVRQFP PDJQpWLTXHDPRYLEOH
*3 ࡱ 8WLOLVDWLRQFRQIRUWDEOHGHVFRPPDQGHV
3RrOH)U\LQJ6HQVRU ࡱ+7 JUkFHDXGLVSOD\ELFRORUHEODQFRUDQJH
HQLQR[ 0DUTXDJHGHV]RQHVHWVXUIDFHV
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH GHFXLVVRQ
GHFXLVVRQFP &RQWU{OHpOHFWURQLTXHDYHF
SRVLWLRQVGHFXLVVRQ
&RPELQDEOHDYHF
+RWWHVGHSODIRQG6pULHHW6pULH &DUDFWpULVWLTXHV
+RWWHGHSODQGHWUDYDLO6pULH )RQFWLRQ)OH[SRXU]RQHVGHFXLVVRQ
+RWWHvORWHWKRWWHPXUDOH6pULH UHFWDQJXODLUHV
HW6pULH )RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH
+RWWHWLURLU6pULH )RQFWLRQ6HQVRUGHFXLVVRQDYHF
*URXSHILOWUDQW6pULH DFFHVVRLUH&$
)RQFWLRQ)U\LQJ6HQVRU
%RQjVDYRLU )RQFWLRQ%RRVWHUSRXUFDVVHUROHV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ )RQFWLRQ%RRVWHUSRXUSRrOHV
GHFXLVVRQRXDXPLQLPXPGHODPrPH )RQFWLRQ0DLQWLHQDXFKDXG
ODUJHXUTXHOHSODQGHFXLVVRQ &KURQRPqWUH
0HUFLGHFRQVXOWHUOHVFRQVHLOV &XLVVRQVSURJUDPPDEOHVMXVTX
j
G
LQVWDOODWLRQGDQVOHFKDSLWUH PLQXWHV
$SSDUHLOVG
DVSLUDWLRQ 0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
KRWWHFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQLQGXFWLRQ6pULH
&,
² (QFDGUHPHQWLQR[PDVVLI
² =RQHGHFXLVVRQRYDOHH[WHQVLEOH
DXWRPDWLTXHPHQW
² &RPPDQGHSDUWRXFKHVVHQVLWLYHV
DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
=RQHVGHFXLVVRQ
]RQHGHFXLVVRQLQGXFWLRQFP
:DYHF%RRVWHU:
H[WHQVLEOHDXWRPDWLTXHPHQWHQ]RQH
RYDOH[FP:DYHF%RRVWHU
&, ࡱ :
&DGUHLQR[ࡱ+7 ]RQHGHFXLVVRQLQGXFWLRQFP
/DUJHXUFP :DYHF%RRVWHU:
]RQHGHFXLVVRQLQGXFWLRQFP
&RPELQDEOHDYHF :DYHF%RRVWHU:
+RWWHVGHSODIRQG6pULHHW6pULH ]RQHGHFXLVVRQLQGXFWLRQFP
+RWWHGHSODQGHWUDYDLO6pULH :DYHF%RRVWHU:
+RWWHvORWHWKRWWHPXUDOH6pULH
HW6pULH %DQGHDXGHFRPPDQGH
+RWWHWLURLU6pULH &RPPDQGHSDUWRXFKHVVHQVLWLYHV
*URXSHILOWUDQW6pULH DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
0DUTXDJHGHV]RQHVGHFXLVVRQ
%RQjVDYRLU 5pJODJHpOHFWURQLTXHHQSRVLWLRQV
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ GHFXLVVRQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH
ODUJHXUTXHOHSODQGHFXLVVRQ &DUDFWpULVWLTXHV
0HUFLGHFRQVXOWHUOHVFRQVHLOV )RQFWLRQ%RRVWHUVXUFKDTXH]RQH
G
LQVWDOODWLRQGDQVOHFKDSLWUH GHFXLVVRQ
$SSDUHLOVG
DVSLUDWLRQ &XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
5pJXODWHXUG
pQHUJLH
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
'pWHFWLRQDXWRPDWLTXHGHVFDVVHUROHV
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
8QLTXHPHQWDGDSWpDX[XVWHQVLOHV
GHFXLVLQHjIRQGPDJQpWLTXH
3RXUXQHUpSDUWLWLRQXQLIRUPHGHOD
FKDOHXUO
XWLOLVDWLRQGHPDWpULDX[
PXOWLFRXFKHVHVWUHFRPPDQGpH
/H:RN:3QHSHXWSDVrWUH
XWLOLVpDYHFFHWDSSDUHLO
3UpYRLUXQSODQFKHULQWHUPpGLDLUH
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
HQSDJH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQW
WRWDOHN:
&kEOHGHUDFFRUGHPHQWP
VDQVSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQVHLOVG
LQVWDOODWLRQSRXUWDEOHVGHFXLVVRQLQGXFWLRQHWWDEOHYLWURFpUDPLTXH
9DODEOHVSRXU&,&;9,9,HW&(
(QWUpHG·DLU HVWDEOHVGHFXLVVRQ,QGXFWLRQVRQW
/
GRWpHVG·XQYHQWLODWHXUGHUHIURLGLVVH
PHQWGHVWLQpjSURWpJHUO·pOHFWURQLTXH
GHVDSSDUHLOVFRQWUHODVXUFKDXIIH min. 65/70**
(QFDVGHFLUFXODWLRQG·DLULQVXIILVDQWH
GDQVOHPHXEOHODSXLVVDQFHGHV
DSSDUHLOVVHUDUpGXLWHDILQGHSURWpJHU
O·pOHFWURQLTXHFRQWUHWRXWULVTXHGH
VXUFKDXIIH
RXUGHVPHXEOHVWRWDOHPHQW
3
IHUPpVLOIDXWSUpYRLUXQHHQWUpH
G·DLUWUDQVYHUVDOHVXIILVDQWH
SRXUFHFDQDOG·DpUDWLRQ
LQ
P
(YDFXDWLRQGHO·DLUDYHF RXUpYLWHUOHUpFKDXIIHPHQWGX
3
XQS ODQFKHULQWHUPpGLDLUH FRQWHQXGHVWLURLUVVLWXpVVRXVOD
WDEOHGHFXLVVRQLOHVWFRQVHLOOp
G·LQVWDOOHUXQSODQFKHULQWHUPpGLDLUH
/DUJHXUGHGpFRXSHPLQLPDOH
PPSRXUOHVWDEOHVGHFXLVVRQ
LQGXFWLRQODUJHXUjFP
6DXISRXUOHVWDEOHVODUJHXUFP
PLQPPSRXUWDEOHVDYHFFDGUH
LQR[DLQVLTXHSRXU9,HQ
LQVWDOODWLRQFODVVLTXHPLQPPSRXU
WDEOHVVDQVFDGUHSRXU&;
DYHFFDGUHHWSRXU9,HQ
LQWpJUDWLRQjIOHXUGHSODQPLQPP
SRXUWDEOHV&;VDQVFDGUH
,QVWDOODWLRQDYHFG·DXWUHV HSDVLQVWDOOHUDXGHVVXVG·XQ
1
DSSDUHLOV ODYHYDLVVHOOHRXG·XQODYHOLQJH
&RPELQDLVRQDYHF$/ ( QSOXVGHVPHVXUHVSUpFLWpHVLOIDXW
SUpYRLUOHVGpFRXSHVVXLYDQWHVHQWUH -RLQWVVLOLFRQHSRXULQVWDOODWLRQGHVWDEOHVGHFXLVVRQjIOHXUGHSODQ
OHPHXEOHHWODKRWWHGHSODQGHWUDYDLO 5pIpUHQFHVjFRPPDQGHUDX6HUYLFH3LqFHV'pWDFKpHVSDUPDLO
SRXUSHUPHWWUHODYHQWLODWLRQGHOD ERXWLTXHEVK#EVKJFRP
SODTXHjLQGXFWLRQ
1RLU
$' HYDQWOHFDQDOG·DpUDWLRQ LVWDQFHGHPPDYHFODSDURL
' *ULV
DUULqUHG·XQWLURLUG·XQIRXURXGH $QWKUDFLWH
ODSDURLLQWpULHXUHGXPHXEOH %ODQF
%HLJH
%$ F{WpGXFDQDOG·DpUDWLRQ ·HVSDFHUHVWDQWHQWUHOHFDQDO
/ *ULV$QWKUDFLWH
G·DpUDWLRQHWOHF{WpGXPHXEOHGRLW 1RLU
UHVWHUGpJDJp
7DEOHGHFXLVVRQYLWURFpUDPLTXH 9DOHXUVGHUDFFRUGHPHQW
6pULH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
&( N:
3UpYRLUXQFkEOHGHUDFFRUGHPHQW
² 6DQVFDGUHSRXUHQFDVWUHPHQW
jIOHXUGHSODQ
² )RQFWLRQ)U\LQJ6HQVRUSRXU
JULOODGHVHWSRrOpHV
² )RQFWLRQ%RRVWHU
² 7ULSOH]RQHGHFXLVVRQH[WHQVLEOH
&( ࡱ MXVTX
j¡FP
6DQVFDGUH ࡱ+7 ² *UDQGH]RQHGHFXLVVRQSRXU
/DUJHXUFP IDLWRXW
² &RPPDQGHSDUWRXFKHVVHQVLWLYHV
/HSUL[FRPSUHQG DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
UDFORLUjYHUUH
=RQHVGHFXLVVRQ
$FFHVVRLUHVHQRSWLRQ ]RQHVGHFXLVVRQ6XSHU4XLFN
*3 ࡱ FP:FRPPXWDEOHVHQ
3RrOH)U\LQJ6HQVRU ࡱ+7 ]RQHJUDQGIDLWRXWGH[FP
HQLQR[ :
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH ]RQHGHFXLVVRQ6XSHU4XLFN
GHFXLVVRQFP FP:H[WHQVLEOHHQFP
:DYHF%RRVWHU:
&RPELQDEOHDYHF ]RQHGHFXLVVRQ6XSHU4XLFN
+RWWHVGHSODIRQG6pULHHW6pULH FP:H[WHQVLEOHHQ
+RWWHGHSODQGHWUDYDLO6pULH FP:RXFP
+RWWHvORWHWKRWWHPXUDOH6pULH :
HW6pULH ]RQHGHFXLVVRQ6XSHU4XLFN
+RWWHWLURLU6pULH FP:DYHF%RRVWHU
*URXSHILOWUDQW6pULH :
%RQjVDYRLU %DQGHDXGHFRPPDQGH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &RPPDQGHSDUWRXFKHVVHQVLWLYHV
GHFXLVVRQRXDXPLQLPXPGHODPrPH DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
ODUJHXUTXHOHSODQGHFXLVVRQ 0DUTXDJHGHV]RQHVGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOV &RQWU{OHpOHFWURQLTXHDYHF
G
LQVWDOODWLRQGDQVOHFKDSLWUH SRVLWLRQVGHFXLVVRQ
$SSDUHLOVG
DVSLUDWLRQ
&DUDFWpULVWLTXHV
)RQFWLRQ)U\LQJ6HQVRUSRXU]RQH $'LVWDQFHPLQLPDOHHQWUHODGpFRXSHGHODSODTXHHWOHPXU
GHFXLVVRQGHFP
)RQFWLRQ%RRVWHU 0HVXUHVHQPP
&XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
3URIRQGHXUG
HQFDVWUHPHQWPP
DXQLYHDXGXERvWLHUGHUDFFRUGHPHQW
PP
/DWDEOHGHFXLVVRQQHGRLWSDVrWUH
LQVWDOOpHSOXVEDVTXHOHGHVVXVGX
SODQGHWUDYDLO
3UpYRLUXQHVSDFHGHPPVRXV
ODFRQQH[LRQpOHFWULTXHGHO
DSSDUHLO
DYHFOHVSDURLVODWpUDOHVRXOHSODQFKHU
LQWHUPpGLDLUH
/DWDEOHGHFXLVVRQGRLWrWUHDFFHVVLEOH
SDUHQGHVVRXVSRXUSRXYRLUUHWLUHUOH
FDLVVRQGHO
DSSDUHLOYHUVHQEDV
,QWpJUDWLRQSRVVLEOHGDQVXQPHXEOH
EDVGHFPGHODUJHXU
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
(SDLVVHXUGXSODQGHWUDYDLOSRXUIL[DWLRQ
GHODWDEOHGHFXLVVRQPP
/
pSDLVVHXUGXMRLQWSHXWYDULHU
HQIRQFWLRQGHVWROpUDQFHVGHOD
YLWURFpUDPLTXHHWGHODGpFRXSHGX
SODQGHWUDYDLO
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
HQSDJH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQYLWURFpUDPLTXH 9DOHXUVGHUDFFRUGHPHQW
6pULH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
&( N:
3UpYRLUXQFkEOHGHUDFFRUGHPHQW
² (QFDGUHPHQWLQR[PDVVLI
² )RQFWLRQ)U\LQJ6HQVRUSRXU
JULOODGHVHWSRrOpHV
² )RQFWLRQ%RRVWHU
² 7ULSOH]RQHGHFXLVVRQH[WHQVLEOH
MXVTX
jFP
&( ࡱ ² *UDQGH]RQHGHFXLVVRQSRXU
&DGUHLQR[ ࡱ+7 IDLWRXW
/DUJHXUFP ² &RPPDQGHSDUWRXFKHVVHQVLWLYHV
DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
/HSUL[FRPSUHQG
UDFORLUjYHUUH =RQHVGHFXLVVRQ
]RQHVGHFXLVVRQ6XSHU4XLFN
$FFHVVRLUHVHQRSWLRQ FP:FRPPXWDEOHVHQ
*3 ࡱ ]RQHJUDQGIDLWRXWGH[FP
3RrOH)U\LQJ6HQVRU ࡱ+7 :
HQLQR[ ]RQHGHFXLVVRQ6XSHU4XLFN
5HYrWHPHQWDQWLDGKpUHQWSRXU]RQH FP:H[WHQVLEOHHQFP
GHFXLVVRQFP :DYHF%RRVWHU:
]RQHGHFXLVVRQ6XSHU4XLFN
&RPELQDEOHDYHF FP:H[WHQVLEOHHQ
+RWWHVGHSODIRQG6pULHHW6pULH FP:RXFP:
+RWWHGHSODQGHWUDYDLO6pULH ]RQHGHFXLVVRQ6XSHU4XLFN
+RWWHvORWHWKRWWHPXUDOH6pULH FP:DYHF%RRVWHU
HW6pULH :
+RWWHWLURLU6pULH
*URXSHILOWUDQW6pULH %DQGHDXGHFRPPDQGH
&RPPDQGHSDUWRXFKHVVHQVLWLYHV
%RQjVDYRLU DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 0DUTXDJHGHV]RQHVGHFXLVVRQ
GHFXLVVRQRXDXPLQLPXPGHODPrPH &RQWU{OHpOHFWURQLTXHDYHF
ODUJHXUTXHOHSODQGHFXLVVRQ SRVLWLRQVGHFXLVVRQ
0HUFLGHFRQVXOWHUOHVFRQVHLOV
G
LQVWDOODWLRQGDQVOHFKDSLWUH &DUDFWpULVWLTXHV
$SSDUHLOVG
DVSLUDWLRQ )RQFWLRQ)U\LQJ6HQVRUSRXU]RQHGH
FXLVVRQGHFP
)RQFWLRQ%RRVWHU
&XLVVRQVSURJUDPPDEOHVMXVTX
j
PLQXWHV
0LQXWHULHLQGpSHQGDQWH
0HQXG
RSWLRQVSHUVRQQDOLVpHV $'LVWDQFHPLQLPDOHHQWUHODGpFRXSHGHODSODTXHHWOHPXU
0HVXUHVHQPP
6pFXULWp
,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
3URIRQGHXUG
HQFDVWUHPHQWPP
DXQLYHDXGXERvWLHUGHUDFFRUGHPHQW
PP
3UpYRLUXQHVSDFHGHPPVRXV
ODFRQQH[LRQpOHFWULTXHGHO
DSSDUHLO
DYHFOHVSDURLVODWpUDOHVRXOHSODQFKHU
LQWHUPpGLDLUH
/DWDEOHGHFXLVVRQGRLWrWUHDFFHVVLEOH
SDUHQGHVVRXVSRXUSRXYRLUUHWLUHUOH
FDLVVRQGHO
DSSDUHLOYHUVHQEDV
,QWpJUDWLRQSRVVLEOHGDQVXQPHXEOH
EDVGHFPGHODUJHXU
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
(SDLVVHXUGXSODQGHWUDYDLOSRXU
IL[DWLRQGHODWDEOHGHFXLVVRQ
PP
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
HQSDJH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQYLWURFpUDPLTXH
6pULH
&(
² (QFDGUHPHQWLQR[PDVVLI
² &RPPDQGHSDUWRXFKHVVHQVLWLYHV
DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
=RQHVGHFXLVVRQ
]RQHGHFXLVVRQ6XSHU4XLFN
FP:H[WHQVLEOHHQ]RQH
IDLWRXWGH[FP:
]RQHGHFXLVVRQ6XSH4XLFN
FP:H[WHQVLEOHHQ
&( ࡱ FP:DYHF%RRVWHU
&DGUHLQR[ ࡱ+7 :
/DUJHXUFP ]RQHGHFXLVVRQ6XSHU4XLFN
FP:
/HSUL[FRPSUHQG ]RQHGHFXLVVRQ6XSHU4XLFN
UDFORLUjYHUUH FP:
&RPELQDEOHDYHF %DQGHDXGHFRPPDQGH
+RWWHVGHSODIRQG6pULHHW6pULH &RPPDQGHSDUWRXFKHVVHQVLWLYHV
+RWWHGHSODQGHWUDYDLO6pULH DYHFVpOHFWLRQGLUHFWHGHODSRVLWLRQ
+RWWHvORWHWKRWWHPXUDOH6pULH 0DUTXDJHGHV]RQHVGHFXLVVRQ
HW6pULH &RQWU{OHpOHFWURQLTXHDYHF
+RWWHWLURLU6pULH SRVLWLRQVGHFXLVVRQ
*URXSHILOWUDQW6pULH $'LVWDQFHPLQLPDOHHQWUHODGpFRXSHGHODSODTXHHWOHPXU
&DUDFWpULVWLTXHV
%RQjVDYRLU )RQFWLRQ%RRVWHU 0HVXUHVHQPP
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ &XLVVRQVSURJUDPPDEOHVMXVTX
j
GHFXLVVRQRXDXPLQLPXPGHODPrPH PLQXWHV
ODUJHXUTXHOHSODQGHFXLVVRQ 0LQXWHULHLQGpSHQGDQWH
0HUFLGHFRQVXOWHUOHVFRQVHLOV 0HQXG
RSWLRQVSHUVRQQDOLVpHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH
$SSDUHLOVG
DVSLUDWLRQ 6pFXULWp
,QWHUUXSWHXUSULQFLSDO
7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
7pPRLQGHFKDOHXUUpVLGXHOOHj
QLYHDX[
6pFXULWpHQIDQWV
&RXSXUHGHVpFXULWp
&RQVHLOVG
LQVWDOODWLRQ
3URIRQGHXUG
HQFDVWUHPHQWPP
DXQLYHDXGXERvWLHUGHUDFFRUGHPHQW
PP
3UpYRLUXQHVSDFHGHPPVRXV
ODFRQQH[LRQpOHFWULTXHGHO
DSSDUHLO
DYHFOHVSDURLVODWpUDOHVRXOHSODQFKHU
LQWHUPpGLDLUH
/DWDEOHGHFXLVVRQGRLWrWUHDFFHVVLEOH
SDUHQGHVVRXVSRXUSRXYRLUUHWLUHUOH
FDLVVRQGHO
DSSDUHLOYHUVHQEDV
,QWpJUDWLRQSRVVLEOHGDQVXQPHXEOH
EDVGHFPGHODUJHXU
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
(SDLVVHXUGXSODQGHWUDYDLOSRXU
IL[DWLRQGHODWDEOHGHFXLVVRQPP
3RLGVGHO
DSSDUHLOHQYLUNJ
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
HQSDJH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
3UpYRLUXQFkEOHGHUDFFRUGHPHQW
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQJD]6pULH &RQVHLOVG
LQVWDOODWLRQ
&* /HVHWG
HQFDVWUHPHQWSHXWrWUHHQYR\p
VpSDUpPHQWDXIRXUQLVVHXUGXSODQGH
² EUOHXUVPXOWLFRXURQQHVMXVTX
j WUDYDLOHQLQR[RXHQSLHUUHSRXU
N: DMXVWHPHQW
² 5pJXODWLRQWRXWpOHFWURQLTXHGHOD 'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
SXLVVDQFHHQSRVLWLRQVGH FRPPDQGpVFRPPHSLqFHVGH
FXLVVRQ UHFKDQJH
² 7DLOOHGHIODPPHSUpFLVHHW 3UpYRLUXQHFRQQH[LRQpOHFWULTXH
UHSURGXFWLEOH O
DSSDUHLOQ
HVWSDVIRQFWLRQQHOVDQV
&* ) ࡱ ² $OOXPDJHDXWRPDWLTXHHWUDSLGH UDFFRUGHPHQWpOHFWULTXH
,QR[ ࡱ+7 FRQWU{OHpOHFWURQLTXHGHODIODPPH 3RVVLELOLWpGHSRVLWLRQQHPHQW
/DUJHXUFP DYHFUpDOOXPDJHDXWRPDWLTXHHQ KRUL]RQWDOGHVERXWRQVSRXUXQ
*D]EXWDQHSURSDQHPEDU FDVG
H[WLQFWLRQDFFLGHQWHOOHGHOD DOLJQHPHQWDYHFOHVEUOHXUV
%UOHXU:RNN: IODPPH 6LO
pSDLVVHXUGXSDQQHDXGHIDoDGH
&* ࡱ ² )RQFWLRQPLMRWDJHSRXUGHV HVWVXSpULHXUHjPPVHUpIpUHUDX
,QR[ ࡱ+7 FXLVVRQVjWHPSpUDWXUHEDVVHHW VFKpPD0RQWDJHGHVERXWRQVGH
/DUJHXUFP UpJXOLqUH FRPPDQGHLOIDXWpYLGHUjO
DUULqUHGX
*D]QDWXUHOPEDU ² *ULOOHVHQIRQWHKDXWHVWDELOLWpj SDQQHDX
%UOHXU:RNN: IOHXUGHSODQGHWUDYDLO 3URIRQGHXUPLQLPDOHGXSODQGHWUDYDLO
² %RXWRQGHFRPPDQGHHQLQR[ FP
/HSUL[FRPSUHQG PDVVLI 3ULVHG
DLUSDUOHKDXW
DQQHDXSRXU:2. 3DVGHSODQFKHULQWHUPpGLDLUH
=RQHVGHFXLVVRQ QpFHVVDLUH
$FFHVVRLUHVG
LQVWDOODWLRQREOLJDWRLUHV &*) /HFDGUHPRQWpVpSDUpPHQWVXUOHSODQ
&$ ࡱ %UOHXU:RNWULSOHFRXURQQHGH GHWUDYDLOSHUPHWXQDFFqVWRWDOj
6HWG
HQFDVWUHPHQW ࡱ+7 IODPPHV::SRXUGHV WRXWHVOHVSLqFHV
FRPSUHQDQWXQFDGUHGpFRUSRXYDQW FDVVHUROHVMXVTX
jPD[LFP /DSDURLDUULqUHHWOHVSURILOpVGH
rWUHVRXGpHWXQFDGUHG
HQFDVWUHPHQW %UOHXUVSXLVVDQWVGRXEOHFRXURQQH ILQLWLRQPXUDOHGRLYHQWUpVLVWHUjOD
GHIODPPHV::SRXU FKDOHXUHWrWUHHQPDWpULDXLQLQIODP
$FFHVVRLUHVHQRSWLRQ GHVFDVVHUROHVMXVTX
jPD[LFP PDEOH
:3 ࡱ %UOHXUVGRXEOHFRXURQQHGH /
DSSDUHLOSHXWrWUHIL[pSDUDXGHVVXV
3RrOH:RNHQLQR[ ࡱ+7 IODPPHV::SRXUGHV 'LVWDQFHODWpUDOHPLQLPDOHGHPP
PXOWLFRXFKHV FDVVHUROHVMXVTX
jPD[LFP DYHFOHVPHXEOHVODWpUDX[SRXU
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH SURWHFWLRQFRQWUHFKDXIIHRXSUpYRLU
FPOLWUHVKDXWHXUFP &* LVRODWLRQVXSSOpPHQWDLUH
%UOHXU:RNWULSOHFRXURQQHGH /RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
&RPELQDEOHDYHF IODPPHV::SRXUGHV FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
+RWWHVGHSODIRQG6pULHHW6pULH FDVVHUROHVMXVTX
jPD[LFP HVWVXSpULHXUHjN:LOIDXW
+RWWHGHSODQGHWUDYDLO6pULH %UOHXUVSXLVVDQWVGRXEOHFRXURQQH UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
+RWWHvORWHWKRWWHPXUDOH6pULH GHIODPPHV::SRXU FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
+RWWHWLURLU6pULH GHVFDVVHUROHVMXVTX
jPD[LFP VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
*URXSHILOWUDQW6pULH %UOHXUVGRXEOHFRXURQQHGH HQpYDFXDWLRQH[WpULHXUHRXHQ
IODPPHV::SRXUGHV UHF\FODJH/DGLVWDQFHPLQLPDOHHQWUH
%RQjVDYRLU FDVVHUROHVMXVTX
jPD[LFP ODWDEOHGHFXLVVRQJD]GHSOXVGH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ N:HWODKRWWHGRLWrWUHGHFP
GHFXLVVRQRXDXPLQLPXPGHODPrPH %DQGHDXGHFRPPDQGH /DFRPELQDLVRQDYHFXQDpUDWHXUGH
ODUJHXUTXHOHSODQGHFXLVVRQ %RXWRQVGHFRPPDQGHDYHFDQQHDX SODQ9/Q
HVWSDVUHFRPPDQGpH
0HUFLGHFRQVXOWHUOHVFRQVHLOV OXPLQHX[LQGLFDWLRQGHV]RQHVGH ODSXLVVDQFHG
H[WUDFWLRQQ
HVWSDV
G
LQVWDOODWLRQGDQVOHFKDSLWUH FXLVVRQHWPDUTXDJHGHVSXLVVDQFHV JDUDQWLHFDUOHEUOHXUFHQWUDOHVWWURS
$SSDUHLOVG
DVSLUDWLRQ $OOXPDJHXQHPDLQ GLVWDQW
&RQWU{OHWRXWpOHFWURQLTXHSRXUXQH 3RLGVGHO
DSSDUHLOHQYLUNJ
UpJXODWLRQSUpFLVHGHVQLYHDX[GH
SXLVVDQFHHWGHODIRQFWLRQPLMRWDJH 9DOHXUVGHUDFFRUGHPHQW
$OOXPDJHUDSLGHDXWRPDWLTXH 3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:
&DUDFWpULVWLTXHV 3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
)RQFWLRQPLMRWDJH WRWDOH:
JULOOHVHQIRQWHSODQHVjIOHXUGH &kEOHPDYHFSULVH
SODQGDQVO
DOLJQHPHQWGXSODQGH
WUDYDLO
%UOHXUVHQODLWRQ
6pFXULWp
&RQWU{OHpOHFWURQLTXHGHODIODPPHHW
UpDOOXPDJHDXWRPDWLTXHHQFDV
G
H[WLQFWLRQDFFLGHQWHOOHGHODIODPPH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
&RXSXUHGHVpFXULWp
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
9*
,QMHFWHXUVVSpFLDX[SRXUJD]EXWDQH
SURSDQHPEDUSHXYHQWrWUH
FRPPDQGpVDXVHUYLFHSLqFHV
GpWDFKpHV
3DVGHSODQFKHULQWHUPpGLDLUH
QpFHVVDLUH
/
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
WUDYDLOSDUOHGHVVXV
/DSDURLDUULqUHHWOHVSURILOpVGH
ILQLWLRQPXUDOHGRLYHQWUpVLVWHU
jODFKDOHXUHWrWUHHQPDWpULDX
LQLQIODPPDEOH
,QWpJUDWLRQGDQVXQPHXEOHGHODUJHXU
PLQLPDOHFP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
7DEOHGHFXLVVRQJD]6pULH
&*
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHVXUQLYHDX[
² 5pJODJHSUpFLVHWUHSURGXFWLEOH
GHODWDLOOHGHODIODPPH
=RQHVGHFXLVVRQ
EUOHXU:RNPXOWLFRXURQQHV
&* ࡱ ::
,QR[ ࡱ+7 EUOHXUSXLVVDQW::
/DUJHXUFP SRXUFDVVHUROHVMXVTX
jPD[FP
*D]QDWXUHOPEDU EUOHXUVQRUPDX[::
,QMHFWHXUVSRXUJD]EXWDQHSURSDQH SRXUFDVVHUROHVMXVTX
jPD[FP
PEDULQFOXV EUOHXUpFRQRPLTXH:
:SRXUFDVVHUROHVMXVTX
j
/HSUL[FRPSUHQG PD[FP
FURL[GHVXSSRUWSRXUHVSUHVVR
DQQHDXSRXU:2. %DQGHDXGHFRPPDQGH
%RXWRQVGHFRPPDQGHDYHFPDUTXDJH
$FFHVVRLUHVHQRSWLRQ GHV]RQHVHWGHVSXLVVDQFHVGH
:3 ࡱ FXLVVRQ
3RrOH:RNHQLQR[ ࡱ+7 $OOXPDJHXQHPDLQ
PXOWLFRXFKHV $OOXPDJHpOHFWURQLTXH
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH
FPOLWUHVKDXWHXUFP &DUDFWpULVWLTXHV
6XSSRUWFDVVHUROHVHQIRQWHHQWURLV
&RPELQDEOHDYHF SDUWLHVDYHFXQHVXUIDFHFRQWLQXH
+RWWHVGHSODIRQG6pULHHW6pULH &KDSHDX[GHEUOHXUVpPDLOOpV
+RWWHvORWHWKRWWHPXUDOH6pULH
HW6pULH 6pFXULWp
+RWWHWLURLU6pULH 6pFXULWpWKHUPRFRXSOH
*URXSHILOWUDQW6pULH
&RQVHLOVG
LQVWDOODWLRQ
%RQjVDYRLU 7DEOHGHFXLVVRQSRXUXQHLQVWDOODWLRQ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ FODVVLTXHVXUOHSODQGHWUDYDLO
GHFXLVVRQRXDXPLQLPXPGHODPrPH 'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
ODUJHXUTXHOHSODQGHFXLVVRQ FRPPDQGpVFRPPHSLqFHVGH
0HUFLGHFRQVXOWHUOHVFRQVHLOV UHFKDQJH
G
LQVWDOODWLRQGDQVOHFKDSLWUH (QFDVWUHPHQWGDQVXQHGpFRXSHGH
$SSDUHLOVG
DVSLUDWLRQ PPRXGHPPVLOHV
HQWUHWRLVHVIRXUQLHVVRQWXWLOLVpHV
3ULVHG
DLUSDUOHKDXW
3UpYRLUXQSODQFKHULQWHUPpGLDLUH
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
'LVWDQFHPLQLPDOHGHPPDYHFOH
PXURXOHVPHXEOHVDGMDFHQWVRX
SUpYRLUXQHLVRODWLRQWKHUPLTXH
VXSSOpPHQWDLUH
/RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
/DGLVWDQFHPLQLPDOHHQWUHODWDEOHGH
FXLVVRQJD]GHSOXVGHN:HWOD
KRWWHGRLWrWUHGHFP
3RLGVGHO
DSSDUHLOHQYLUNJ
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:
&kEOHGHUDFFRUGHPHQWPVDQV
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHGHFXLVVRQJD]6pULH
&*
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHVXUQLYHDX[
² 5pJODJHSUpFLVHWUHSURGXFWLEOHGH
ODWDLOOHGHODIODPPH
=RQHVGHFXLVVRQ
EUOHXU:RNPXOWLFRXURQQHV
::
EUOHXUSXLVVDQW::
SRXUGHVFDVVHUROHVMXVTX
j
PD[FP
&* ࡱ EUOHXU::SRXUGHV
,QR[ ࡱ+7 FDVVHUROHVMXVTX
jPD[FP
/DUJHXUFP EUOHXUpFRQRPLTXH
*D]QDWXUHOPEDU :²:FRQYLHQWSRXUGHV
,QMHFWHXUVSRXUJD]EXWDQHSURSDQH FDVVHUROHVMXVTX
jPD[FP
PEDULQFOXV
%DQGHDXGHFRPPDQGH
/HSUL[FRPSUHQG %RXWRQVGHFRPPDQGHDYHFPDUTXDJH
FURL[GHVXSSRUWSRXUHVSUHVVR GHV]RQHVHWGHVSXLVVDQFHVGH
DQQHDXSRXU:2. FXLVVRQ
$OOXPDJHXQHPDLQ
$FFHVVRLUHVHQRSWLRQ $OOXPDJHpOHFWURQLTXH
:3 ࡱ
3RrOH:RNHQLQR[ ࡱ+7 &DUDFWpULVWLTXHV
PXOWLFRXFKHV JULOOHVHQIRQWHVXUIDFHSODQHKDXWH
$YHFSRLJQpHHWIRQGDUURQGLGLDPqWUH VWDELOLWp
FPOLWUHVKDXWHXUFP &KDSHDX[GHEUOHXUVpPDLOOpV
&RPELQDEOHDYHF 6pFXULWp
+RWWHVGHSODIRQG6pULHHW6pULH 6pFXULWpWKHUPRFRXSOH
+RWWHvORWHWKRWWHPXUDOH6pULH
HW6pULH &RQVHLOVG
LQVWDOODWLRQ
+RWWHWLURLU6pULH 7DEOHGHFXLVVRQSRXUXQHLQVWDOODWLRQ
*URXSHILOWUDQW6pULH FODVVLTXHVXUOHSODQGHWUDYDLO
'HVLQMHFWHXUVVSpFLDX[SHXYHQWrWUH
%RQjVDYRLU FRPPDQGpVFRPPHSLqFHVGH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ UHFKDQJH
GHFXLVVRQRXDXPLQLPXPGHODPrPH ,QVWDOODWLRQGDQVXQHGpFRXSH
ODUJHXUTXHOHSODQGHFXLVVRQ VWDQGDUGGHODUJHXUFP
0HUFLGHFRQVXOWHUOHVFRQVHLOV 3ULVHG
DLUSDUOHKDXW
G
LQVWDOODWLRQGDQVOHFKDSLWUH 3UpYRLUXQSODQFKHULQWHUPpGLDLUH
$SSDUHLOVG
DVSLUDWLRQ 9pULILHUODSRVLWLRQGHO
DUULYpHGXJD]
SRXUO
LQVWDOODWLRQG
XQWLURLU
/
DSSDUHLOGRLWrWUHIL[pSDUHQGHVVRXV
'LVWDQFHODWpUDOHPLQLPDOHGHPP
DYHFOHVPHXEOHVODWpUDX[SRXU
SURWHFWLRQFRQWUHFKDXIIHRXSUpYRLU
XQHLVRODWLRQVXSSOpPHQWDLUH
3RLGVGHO
DSSDUHLOHQYLUNJ
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:
&kEOHGHUDFFRUGHPHQWPVDQV
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
7DEOHVGHFXLVVRQ
9DULRJD]6pULH
9*
² &RPELQDEOHDYHFOHVDXWUHVWDEOHV
GHFXLVVRQGHOD6pULHHQ
SDUIDLWHKDUPRQLH
² %DQGHDXGHFRPPDQGHLQWpJUp
SRXUXQHPDQLSXODWLRQFRQIRUWDEOH
HWVpFXULVpH
² 5pJXODWLRQPpFDQLTXHGHOD
SXLVVDQFHDYHFUpJODJHSUpFLV
HWUHSURGXFWLEOHGHODWDLOOHGHOD
IODPPHVXUQLYHDX[GHSXLVVDQFH
9*) ࡱ ² JULOOHVHQIRQWHVXUIDFHSODQH
%DQGHDXGH ࡱ+7 IDFLOLWHQWOHGpSODFHPHQWGHV
FRPPDQGHQRLU FDVVHUROHVHQWRXWHVpFXULWp
/DUJHXUFP ² N:VXUEUOHXUV
*D]EXWDQHSURSDQHPEDU
9* ࡱ =RQHVGHFXLVVRQ
%DQGHDXGH ࡱ+7 EUOHXUVSXLVVDQWV::
FRPPDQGHQRLU SRXUGHVFDVVHUROHVMXVTX
jFP
/DUJHXUFP EUOHXUV::SRXUGHV
*D]QDWXUHOPEDU FDVVHUROHVMXVTX
jFP
$FFHVVRLUHVG
LQVWDOODWLRQ %DQGHDXGHFRPPDQGH
99 ࡱ %RXWRQVGHFRPPDQGHDYHFDQQHDX
%DUUHWWHGHMRQFWLRQ ࡱ+7 OXPLQHX[
'LVWDQFHPLQLPDOHHQWUHODGpFRXSHGHO
DSSDUHLOHWODSDURLODWpUDOHPP
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV %DQGHDXGHFRPPDQGHLQWpJUp
9DULRGHFXLVVRQGHOD6pULH $OOXPDJHXQHPDLQ
0HVXUHVHQPP
99 ࡱ $OOXPDJHpOHFWURQLTXH
%DUUHWWHGHMRQFWLRQ ࡱ+7
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV &DUDFWpULVWLTXHV
9DULRGHFXLVVRQGHOD6pULH JULOOHVHQIRQWHVXUIDFHSODQH
KDXWHVWDELOLWp
&RPELQDEOHDYHF &KDSHDX[GHEUOHXUVpPDLOOpV
+RWWHVGHSODIRQG6pULHHW6pULH
+RWWHvORWHWKRWWHPXUDOH6pULH 6pFXULWp
HW6pULH 6pFXULWpWKHUPRFRXSOH
+RWWHWLURLU6pULH ,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
*URXSHILOWUDQW6pULH 7pPRLQOXPLQHX[GHPLVHVRXVWHQVLRQ
%RQjVDYRLU &RQVHLOVG
LQVWDOODWLRQ
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 9*)
GHFXLVVRQRXDXPLQLPXPGHODPrPH ,QMHFWHXUVVSpFLDX[SRXUJD]QDWXUHO
ODUJHXUTXHOHSODQGHFXLVVRQ PEDUSHXYHQWrWUHFRPPDQGpVDX
0HUFLGHFRQVXOWHUOHVFRQVHLOV VHUYLFHGHVSLqFHVGpWDFKpHV
G
LQVWDOODWLRQGDQVOHFKDSLWUH
$SSDUHLOVG
DVSLUDWLRQ 9*
,QMHFWHXUVVSpFLDX[SRXUJD]EXWDQH
SURSDQHPEDUSHXYHQWrWUH
FRPPDQGpVDXVHUYLFHGHVSLqFHV
GpWDFKpHV
3DVGHSODQFKHULQWHUPpGLDLUH
QpFHVVDLUH
/
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
WUDYDLOSDUOHGHVVXV
'LVWDQFHODWpUDOHPLQLPDOHGH
PPDYHFOHVPHXEOHVODWpUDX[
SRXUSURWHFWLRQFRQWUHFKDXIIHRX
SUpYRLUXQHLVRODWLRQVXSSOpPHQWDLUH
/RUVGHO
LQVWDOODWLRQG
DSSDUHLOVGH
FXLVVRQJD]GRQWODSXLVVDQFHWRWDOH
HVWVXSpULHXUHjN:LOIDXW
UHVSHFWHUODUqJOHPHQWDWLRQORFDOH
FRQFHUQDQWODYHQWLODWLRQGHODSLqFH
VRQYROXPHHWO
LQVWDOODWLRQG
XQHKRWWH
HQpYDFXDWLRQH[WpULHXUHRXHQ
UHF\FODJH
/DGLVWDQFHPLQLPDOHHQWUHODWDEOH
GHFXLVVRQJD]GHSOXVGHN:HW
ODKRWWHGRLWrWUHGHFP
3RLGVGHO
DSSDUHLOHQYLUNJ
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOHJD]
N:N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH
WRWDOH::
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$FFHVVRLUHVSRXUWDEOHVGHFXLVVRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
*1 ࡱ 9$ ࡱ
7HSSDQ<DNL ࡱ+7 %DUUHWWHGHMRQFWLRQ ࡱ+7
IDLWGHFRXFKHVGHPpWDO*DVWUR SRXULQVWDOODWLRQjIOHXUGHSODQGH
1RUPSRXUSODTXHLQGXFWLRQ)XOO SOXVLHXUVDSSDUHLOV9DULR6pULH
=RQH&;
/;3;+[[PP
9$ ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
*1 ࡱ SRXULQVWDOODWLRQFODVVLTXHVXU
7HSSDQ<DNL ࡱ+7 OHSODQGHWUDYDLOGHSOXVLHXUV
IDLWGHFRXFKHVGHPpWDO*DVWUR DSSDUHLOV9DULR6pULH
1RUPSRXUSODTXHLQGXFWLRQ)XOO
=RQH&;
/;3;+[[PP 99 ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
&$ ࡱ HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV
7HSSDQ<DNL ࡱ+7 9DULRGHFXLVVRQGHOD6pULH
PXOWLFRXFKHV
3RXUWDEOHVGHFXLVVRQ)OH[,QGXFWLRQ
99 ࡱ
%DUUHWWHGHMRQFWLRQ ࡱ+7
&$ ࡱ QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV
3ODTXHjJULOOHU ࡱ+7 9DULRGHFXLVVRQGHOD6pULH
HQIRQWHG
DOXPLQLXP
5HYrWHPHQWDQWLDGKpVLI
3RXUWDEOHVGHFXLVVRQ)OH[,QGXFWLRQ
&$ ࡱ &$ ࡱ
6HQVRUGHFXLVVRQ ࡱ+7 .LWGHUHF\FODJH ࡱ+7
SRXUUpJODJHGHODWHPSpUDWXUHGDQV VDQVJDLQHVSRXU&9&9
OHVFDVVHUROHV &RPSRVpGHILOWUHV&OHDQ$LUSRXU
XQHUpGXFWLRQHIILFDFHGHVRGHXUV
HWG
XQDGDSWDWHXUWpOHVFRSLTXH
&$ ࡱ
%RXWRQPDJQpWLTXH ࡱ+7
7ZLVW3DGQRLU
&$ ࡱ
.LWGHUHF\FODJH ࡱ+7
SRXUJXLGDJHGHO
DLUSRXU
&9&9
&RPSRVpGHILOWUHV&OHDQ$LUSRXU
*3 ࡱ XQHUpGXFWLRQHIILFDFHGHVRGHXUV
3RrOH)U\LQJ6HQVRU ࡱ+7 G
XQGLIIXVHXUG
DLUHWGHUXEDQDGKpVLI
SRXU]RQHGH¡FP
*3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7
SRXU]RQHGH¡FP &$ ࡱ
ILOWUHVDFRXVWLTXHV ࡱ+7
*3 ࡱ SRXU&9&9
3RrOH)U\LQJ6HQVRU ࡱ+7
SRXU]RQHGH¡FP
*3 ࡱ
3RrOH)U\LQJ6HQVRU ࡱ+7
SRXU]RQHGHFXLVVRQ¡FP &$ ࡱ
ILOWUHV&OHDQ$LU ࡱ+7
GHUHPSODFHPHQWSRXU&9
&9
:3 ࡱ
3RrOH:RN ࡱ+7
DYHFSRLJQpHHWIRQGDUURQGL¡FP
KFPFRQWHQDQFHO $' ࡱ
&RPSDWLEOHDYHFEUOHXUV:RNJD] &RXGHFRXUW ࡱ+7
JDLQHSODWH¡PPSRXULQVWDOODWLRQ
GH&9&9GDQVSODQGH
:= ࡱ WUDYDLOSURIRQGHXUFPHQpYDFXDWLRQ
6XSSRUWDGDSWDWHXU ࡱ+7 H[WpULHXUHRXUHF\FODJHDYHFJDLQHV
SRXUSRrOH:RN
8WLOLVDEOHXQLTXHPHQWVXU9DULR
LQGXFWLRQ:RN
$'
ࡱ
&RXGHH[WUDFRXUW ࡱ+7
&$ ࡱ JDLQHSODWH¡PPSRXULQVWDOODWLRQ
6HWG·HQFDVWUHPHQW ࡱ+7 GH&9&9GDQVSODQGH
FRPSUHQDQWXQFDGUHGpFRUHWXQ WUDYDLOSURIRQGHXUFPHQpYDFXDWLRQ
FDGUHG·HQFDVWUHPHQWSRXYDQWrWUH H[WpULHXUHRXUHF\FODJHDYHFJDLQHV
VRXGpjXQSODQGHWUDYDLOHQLQR[
/LYUDEOHjSDUWLUGH0DL
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
7DEOHVYLWURFpUDPLTXH6pULH 7DEOHVGHFXLVVRQ
7\SHG
DSSDUHLO 7DEOHYLWURFpUDPLTXH 7DEOHYLWURFpUDPLTXH
6DQVFDGUHSRXULQVWDOODWLRQjYHXUGHSODQ &(
&DGUHLQR[ &( &(
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
(FUDQVHQVLWLI7)7&RPPDQGH7ZLVW3DG7RXFKHVVHQVLWLYHV ²² ²²
%RXWRQVGHFRPPDQGHHQIDoDGHEDQGHDXGHFRPPDQGHLQWpJUp ²² ²²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
=RQHGHFXLVVRQ6XSHU4XLFN¡FP:
²
H[WHQVLEOHHQ]RQHIDLWRXW[FP:
=RQHGHFXLVVRQ6XSHU4XLFN¡FP: ²
=RQHGHFXLVVRQ6XSHU4XLFN¡FP:
²
]RQHIDLWRXW[FP:
=RQHGHFXLVVRQ6XSHU4XLFN¡FPDYHFERRVWHU: ²
=RQHGHFXLVVRQ6XSHU4XLFN¡FP: ²
=RQHGHFXLVVRQ6XSHU4XLFN¡FP:
²
¡FP:¡FP:
=RQHGHFXLVVRQ6XSHU4XLFN¡FP:
²
¡FP:DYHFERRVWHU:
=RQHGHFXLVVRQ6XSHU4XLFN¡FP:
²
¡FP:DYHFERRVWHU:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQVGHFXLVVRQ
1RPEUHGHIRQFWLRQV)U\LQJ6HQVRU [FP ²
%RRVWHUQRPEUHGH]RQHVGHFXLVVRQ
0LQXWHULHFRXSHFLUFXLWQRPEUHGH]RQHVGHFXLVVRQ
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
6pFXULWpHQIDQWV&RXSXUHGHVpFXULWp1HWWR\DJHGHO
pFUDQjWRXWPRPHQW ² ²
0HQXG
RSWLRQV
$FFHVVRLUHV
3RrOHSRXU)U\LQJ6HQVRUSRXU]RQHGHFXLVVRQ¡FP *3ñ ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
7DEOHV)OH[,QGXFWLRQ6pULHHW6pULHDYHFV\VWqPHGHYHQWLODWLRQLQWpJUp
7\SHG
DSSDUHLO 7DEOH)OH[,QGXFWLRQ
DYHFPRWHXUHWYHQWLODWLRQLQWpJUpH
,QVWDOODWLRQjYHXUGHSODQ &9
&DGUHLQR[ ²
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXUG
HQFDVWUHPHQW FP
8WLOLVDWLRQV
&RQWU{OHSDUVHQVRUWRXFKHVVHQVLWLYHV ²
%RXWRQPDJQpWLTXH7ZLVW3DG ²
%RXWRQVGHFRPPDQGHQRLUVHQIDoDGH
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQRXQRPEUHGHFDVVHUROHVPD[
=RQH)OH[,QGXFWLRQ[FP::
H[WHQVLEOH[FP::
=RQH)OH[,QGXFWLRQ[FP::
²
H[WHQVLEOH[FP::
([WHQVLRQDXWRPDWLTXHMXVTX
jFP:DYHFERRVWHU:
3XLVVDQFHG
DVSLUDWLRQ(1DYHFYHQWLODWLRQSRVLWLRQVLQWHQVLI
(YDFXDWLRQ PóK
5HF\FODJH PóK
&RQVRPPDWLRQVHORQQRUPH(8
&ODVVHG
HZFDFLWppQHUJpWLTXH $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ
&ODVVHG
HZFDFLWppQHUJpWLTXHGHODYHQWLODWLRQ $
&ODVVHG
pZFDFLWppQHUJpWLTXHGHO
pFODLUDJH ²
&ODVVHG
pZFDFLWppQHUJpWLTXHGX=OWUHjJUDLVVH %
3XLVVDQFHVRQRUHPLQPD[PRGHQRUPDO G%$
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXH
1RPEUHGHSRVLWLRQVGHFXLVVRQ
'pWHFWLRQGHFDVVHUROHV
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
)RQFWLRQ)OH[SRXU]RQHFHFXLVVRQUHFWDQJXODLUH
0LQXWHULHFRXSHFLUFXLWQRPEUHGH]RQHVGHFXLVVRQ ²
0LQXWHULHLQGpSHQGDQWH
&KURQRPqWUH
)RQFWLRQ%RRVWHUQRPEUHGH]RQHVGHFXLVVRQ
)RQFWLRQ%RRVWHUSRXUFDVVHUROHVSRrOHV ²
)RQFWLRQ)U\LQJ6HQVRUQRPEUHGH]RQHVGHFXLVVRQ
0DLQWLHQDXFKDXG ²
6pFXULWpHQIDQW&RXSXUHGHVpFXULWp)RQFWLRQSDXVH ²²
)RQFWLRQPpPRLUH ²
0HQXG
RSWLRQV
6HQVRUGHFXLVVRQ&$ ²
)RQFWLRQ&XLVVRQ3URIHVVLRQQHOOH ²
0RGXOH:L)LLQWpJUp+RPH&RQQHFW
3RrOH)U\LQJ6HQVRUSRXU]RQHFP *3ñ
3RrOH)U\LQJ6HQVRUSRXU]RQHFP *3ñ
3RrOH)U\LQJ6HQVRUSRXU]RQHFP *3ñ
3RrOH)U\LQJ6HQVRUSRXU]RQHFP *3ñ
&DUDFWpULVWLTXHVGHODYHQWLODWLRQ
1LYHDXGHSXLVVDQFH SOXVLQWHQVLYH
7HFKQRORJLHGXPRWHXU %/'&
0RWHXU
3XLVVDQFHGXPRWHXU :
6\VWqPHGHYHQWLODWLRQWRXWDXWRPDWLTXH
)RQFWLRQDXWRPDWLTXH
)RQFWLRQGHWHPSRULVDWLRQDXWRPDWLTXH
)RQFWLRQGHWHPSRULVDWLRQ PLQ PLQ
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHVjJUDLVVH )LOWUHPpWDOOLTXH
1RPEUHGH=OWUHVjJUDLVVH
%DFUpFXSpUDWHXUDQWLGpERUGHPHQW
(YDFXDWLRQSDUOHEDVF{WpDUULqUH ²²
0RGXOHUHF\FODJH &$ñ&$ñ
)LOWUHDFRXVWLTXHSRXUOHPRGHpYDFXDWLRQH[WpULHXUH &$ñ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOHñ$FFHVVRLUHVVSpFLDX[ò9DOHXUVVHUpIpUDQWjODFRQ=JXUDWLRQ9/DYHFOHFDLVVRQPRWHXU$5
7DEOHVGHFXLVVRQ
7DEOH)OH[,QGXFWLRQ 7DEOH)OH[,QGXFWLRQ
DYHFPRWHXUHWYHQWLODWLRQLQWpJUpH DYHFPRWHXUHWYHQWLODWLRQLQWpJUpH
&9 &9
²
² ²
² ²
²
²
² ²
$ $
$ $
² ²
% %
*3ñ *3ñ
*3ñ *3ñ
*3ñ *3ñ
² ²
SOXVLQWHQVLYH SOXVLQWHQVLYH
%'/& %'/&
PLQ PLQ
PLQ PLQ
)LOWUHPpWDOOLTXH )LOWUHPpWDOOLTXH
²² ²²
&$ñ&$ñ &$ñ&$ñ
&$ñ &$ñ
7DEOHV,QGXFWLRQ6pULH
7\SHG
DSSDUHLO 7DEOHLQGXFWLRQ)XOO=RQH 7DEOHLQGXFWLRQ)XOO=RQH
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
ò&RPELQDEOHDYHFXQHKRWWHVSpFL=TXH
ó'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
7DEOHVGHFXLVVRQ
7DEOHV,QGXFWLRQ6pULH
7\SHG
DSSDUHLO 7DEOH)OH[,QGXFWLRQ 7DEOH)OH[,QGXFWLRQ
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
ò&RPELQDEOHDYHFXQHKRWWHVSpFL=TXH
ó'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
7DEOHVGHFXLVVRQ
² ² ² ²
² ² ²
²
² ² ² ²
² ² ² ²
² ² ²
² ² ²
² ² ² ²
² ²
² ² ²
²
²
²²
²
²
²
²
²
²
ò ò ò ²
ó ó ó ²
² ² ² ²
7\SHG
DSSDUHLO 7DEOHJD] 7DEOHJD]
&*) &*
&DGUHHQLQR[PDVVLIPPEURVVpPLFURELOOp ²²² ²²²
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQVRXGp ² ²
*D]EXWDQHSURSDQHPEDUJD]QDWXUHOPEDU ² ²
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
%RXWRQVGHFRPPDQGHHQIDoDGHEDQGHDXGHFRPPDQGHLQWpJUp ² ²
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
%UOHXUZRNPXOWLFRXURQQHV: ²
%UOHXUZRNPXOWLFRXURQQHV: ²
%UOHXUSXLVVDQWGRXEOHFRXURQQH:
%UOHXUVWDQGDUGGRXEOHFRXURQQH:
&DUDFWpULVWLTXHV
1RPEUHGHSRVLWLRQV
&RQWU{OHpOHFWURQLTXHGHODYDPPH
$OOXPDJHDXWRPDWLTXHDOOXPDJHpOHFWULTXH ² ²
5pJODJHpOHFWURQLTXHGHODYDPPHDYHFUpDOOXPDJHDXWRPDWLTXH
)RQFWLRQPLMRWDJH
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH
&RXSXUHGHVpFXULWp
*ULOOHHQIRQWH SDUWLHV SDUWLHV
$FFHVVRLUHV
6XSSRUW:RN
3RrOH:RN :3ñ :3ñ
&RXYHUFOHLQR[ ² ²
5DFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWJD] N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH :
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
7DEOHV*D]6pULH 7DEOHVGHFXLVVRQ
7\SHG
DSSDUHLO 7DEOH*D] 7DEOH*D] 7DEOH*D] 7DEOH*D] 7DEOH*D] 7DEOH*D]
9*) 9* &* &* 9*) 9*
&DGUHHQLQR[PDVVLIPPEURVVpPLFURELOOp ²² ²² ²² ²² ²² ²²
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQVRXGp ²² ²² ²² ²² ²² ²²
*D]EXWDQHSURSDQHPEDUJD]
ò² ²ó ²ò ²ò ò² ²ó
QDWXUHOPEDU
'LPHQVLRQV
/DUJHXU FP
8WLOLVDWLRQ
%RXWRQVGHFRPPDQGHHQIDoDGH
² ² ² ² ² ²
%DQGHDXGHFRPPDQGHLQWpJUp
=RQHVGHFXLVVRQ
1RPEUHGH]RQHVGHFXLVVRQ
%UOHXU:RNPXOWLFRXURQQHV: ² ² ² ² ²
%UOHXU:RNPXOWLFRXURQQHV: ² ² ² ² ²
%UOHXU:RNPXOWLFRXURQQHV: ² ² ² ² ²
%UOHXU:RNPXOWLFRXURQQHV: ² ² ² ² ²
%UOHXUSXLVVDQWGRXEOHFRXURQQH: ² ² ² ²
%UOHXUSXLVVDQWGRXEOHFRXURQQH: ² ² ² ²
%UOHXUWUqVSXLVVDQW: ² ² ² ²
%UOHXUWUqVSXLVVDQW: ² ² ² ²
%UOHXUVWDQGDUG: ² ² ² ²
%UOHXUVWDQGDUG: ² ² ² ² ²
%UOHXUVWDQGDUG: ² ² ² ² ²
%UOHXUpFRQRPLTXH: ² ² ² ²
&DUDFWpULVWLTXHV
%UOHXUpFRQRPLTXH:
&RQWU{OHpOHFWURQLTXHGHODYDPPH ² ² ² ² ² ²
$OOXPDJHpOHFWURQLTXH$OOXPDJHpOHFWULTXH ² ² ² ² ² ²
5pJODJHpOHFWURQLTXHGHODYDPPH
² ² ² ² ² ²
DYHFUpDOOXPDJHDXWRPDWLTXH
)RQFWLRQPLMRWDJH ² ² ² ² ² ²
,QGLFDWHXUGHFKDOHXUUpVLGXHOOH ² ²
&RXSXUHGHVpFXULWp ² ² ² ² ² ²
*ULOOHHQIRQWH SDUWLHV SDUWLHV SDUWLHV SDUWLHV SDUWLHV SDUWLHV
$FFHVVRLUHV
6XSSRUW:RN ² ²
3RrOH:RN :3ñ :3ñ :3ñ :3ñ ² ²
&RXYHUFOHQRLU ² ² ² ² ² ²
5DFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWJD] N:
3XLVVDQFHGHUDFFRUGHPHQWpOHFWULTXH :
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVVSpFLDX[
ò%XVHVSRXU%XWDQH3URSDQHPEDULQFOXV
ó%XVHVSRXUJD]QDWXUHOPEDULQFOXV
$SSDUHLOVG
DVSLUDWLRQ
9XHG
HQVHPEOHGHVKRWWHVGHV6pULHHW6pULH
+RWWHGHSODIRQG9DULR6pULH
+RWWHVGHSODIRQG6pULH
+RWWHGHSODQGHWUDYDLO6pULH
+RWWHGHSODQGHWUDYDLO6pULH
9DULR$pUDWHXUGHSODQGHFXLVVRQ6pULH
$SSDUHLOVG¶DVSLUDWLRQ
9DULR$pUDWHXUGHSODQGHFXLVVRQ6pULH
+RWWHvORW6pULH
+RWWHvORW6pULH
+RWWHPXUDOH6pULH
+RWWHVPXUDOHV6pULH
+RWWHVWLURLU6pULH
*URXSHVILOWUDQWV6pULH
6\VWqPHPRGXODLUHHW&DLVVRQVPRWHXUVVpSDUpV
$FFHVVRLUHV
'RQQpHVWHFKQLTXHV
9XHG
HQVHPEOHGHVKRWWHV6pULH
$& $&
$&
$&
$, $5 $5 $5
$,
$,
$: $5 $5 $5
$:
$:
$SSDUHLOVG
DVSLUDWLRQ
9XHG
HQVHPEOHGHVKRWWHV6pULH
$/
$/
$) $&
$) $&
$&
0RGXOHG
pFODLUDJH6pULH
$&
² 0RGXOHG
pFODLUDJHFRPSOpPHQWDLUH
GHODKRWWHGHSODIRQG
² ,QWpJUDWLRQLQGLYLGXHOOHGXPRGXOH
DYHFpFODLUDJHGDQVODFRQILJXUD
WLRQKRWWHGHSODIRQG9DULR
&DUDFWpULVWLTXHV
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
&RQVHLOVG
LQVWDOODWLRQ
$& ࡱ 9HXLOOH]YRXVUpIpUHUDX[SDJHV
,QR[ ࡱ+7 SRXUOHVFRQILJXUDWLRQVG
DVSLUDWLRQ
0RGXOHG
pFODLUDJH UHFRPPDQGpHVGXPRWHXULQGpSHQGDQW DOWHUQDWLYH
(QFRPSOpPHQWGXPRGXOHGH HWOHVGLPHQVLRQVTXLHQUpVXOWHQW
FRPPDQGHDYHFpFODLUDJH )L[DWLRQDXPRGXOHILOWUH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
&kEOHUpVHDXP
DOWHUQDWLYH
$'ĂĂ
$'ĂĂ
PLQĂ
$&ĂĂ $&ĂĂ
$&ĂĂ
AC 402 - autre possibilité de fixation au plafond $OX)OH[Ă $&ĂĂ $'ĂĂĂ
$'ĂĂ $'ĂĂ
$&DYHFPRGXOHGHUHF\FODJH$$RX$$
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQILJXUDWLRQVG·LQVWDOODWLRQVSUpFRQLVpHVSRXUODKRWWHGHSODIRQG9DULR6pULH
+DXWHXUPLQLPDOH PP
G·LQVWDOODWLRQHQPPFDGUH
GHPRQWDJHLQFOXV
Ø 150 Ø 150
,QVWDOODWLRQGDQVSODIRQG +DXWHXUPLQLPDOHG·LQVWDOODWLRQDYHFWX\DXURQG$OXYH[
RXVWUXFWXUHGHPHXEOH GLUHFWHPHQWSDUOHSODIRQG
&DLVVRQPRWHXUSODFpVpSDUpPHQW
&ROOHFWHXUG·DLU $'
VLQpFHVVDLUH [PPWX\DXURQGए[PPWX\DXURQG
3XLVVDQFHG·DVSLUDWLRQVHORQQRUPH(1²PóK 3DVGHFROOHFWHXUG·DLUSUpFRQLVp
)/&/ :FP [ [$5PóK
)/&2 ,FP [ [$5PóK [$5PóK
SDVGH9593
5
3DVGHFROOHFWHXUG·DLUSUpFRQLVp 3DVGHFROOHFWHXUG·DLUSUpFRQLVp
[$5PóK [$5PóK
[$5PóK [$5PóK [$5PóK [$5PóK [$5PóK
$5SDUWDJHUOHPRGXOH!OWUH $5SDUWDJHUOHPRGXOH!OWUHSODFp
SODFpDXFHQWUHDYHFOHFROOHFWHXUG·DLU DXFHQWUHDYHFOHFROOHFWHXUG·DLU
[$5PóK [$5PóK [$5PóKñ
[$5PóK [$5PóK
[$5PóK [$5PóK [$5PóK [$5PóK [$5PóK
+RWWHGHSODIRQG6pULH 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
$& PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
² +RWWHGHSODIRQGUpJODEOHHQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
KDXWHXUSRXYDQWrWUHUHPRQWpH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
HQWLqUHPHQWMXVTX
DXSODIRQGRX SD\VUHVSHFWLI/HVVHUYLFHV+RPH
LQWpJUpHGDQVOHSODIRQG &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
² $OXPLQLXPPDVVLIWUDYDLOOpDYHF WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
SUpFLVLRQ ZZZKRPHFRQQHFWFRP
² 0RWHXUVLOHQFLHX[HWpFRQRPH
HQpQHUJLH &RQVHLOVG
LQVWDOODWLRQ
$& ࡱ ² )LOWUHVjDVSLUDWLRQSpULSKpULTXH ,QVWDOODWLRQGLUHFWHPHQWDXSODIRQG
*DJJHQDX%ODFN ࡱ+7 ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH JUkFHjODSODTXHSRXUOHPRQWDJH
+RPH&RQQHFW SDU6HQVRUDGDSWHODSXLVVDQFH OLYUpHGHVpULH
/DUJHXUFP G
DVSLUDWLRQDXYROXPHGHVYDSHXUV +DXWHXUGHSODIRQGUHFRPPDQGpH
0RGHUHF\FODJH GHFXLVVRQ MXVTX
jP
/LYUpHDYHFSODTXHSRXUPRQWDJH ² ,QVWDOODWLRQIDFLOHHWUDSLGHJUkFH /DKRWWHGHSODIRQGGRLWrWUH
DXSODIRQG jODSODTXHSRXUOHPRQWDJHDX FRQVLGpUpHFRPPHXQHYHQWLODWLRQGH
SODIRQGOLYUpHGHVpULH SLqFHORUVTXHODGLVWDQFHTXLODVpSDUH
$FFHVVRLUHVHQRSWLRQ ² 5HPSODFHPHQWIDFLOHGHVILOWUHV GXSODQGHFXLVVRQHVWVXSpULHXUHj
$$ ࡱ ² (FODLUDJH/('EODQFQHXWUHDYHF FPFDUO
DVSLUDWLRQGHVYDSHXUV
ILOWUHVjFKDUERQ ࡱ+7 YDULDWHXUG
LQWHQVLWpUpJODEOHSRXU VHUDOLPLWpH3RXUDWWHLQGUHOHQLYHDX
DFWLI&OHDQ$LUGHUHPSODFHPHQW XQpFODLUDJHRSWLPDOGXSODQGH G
DVSLUDWLRQRSWLPDOLOIDXWTXHOD
SRXUOHUHF\FODJHGHO·DLU FXLVVRQ SXLVVDQFHG
DVSLUDWLRQUHSUpVHQWH
3RXUKRWWHGHSODIRQG$& ² 0RGHUHF\FODJH jIRLVOHYROXPHGHODSLqFH
HW$& /
LQVWDOODWLRQVpFXULVpHGHO
DSSDUHLO
$$ ࡱ 3HUIRUPDQFHV QpFHVVLWHXQHVWUXFWXUHGHIL[DWLRQ
ILOWUHVjFKDUERQ ࡱ+7 3XLVVDQFHSRVLWLRQLQWHQVLYH DGpTXDWH1HMDPDLVIL[HUGLUHFWHPHQW
DFWLIUpJpQpUDEOHVGHUHPSODFHPHQW 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ O
DSSDUHLOVXUGHVGDOOHVGHSODFRSOkWUH
SRXUOHUHF\FODJHGHO·DLU ODQRUPH(1 RXGHVPDWpULDX[GHFRQVWUXFWLRQ
3RXUKRWWHGHSODIRQG$& 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ OpJHUVVLPLODLUHV
HW$& (1 'LVWDQFHPLQLPDOHDXGHVVXV
5pGXFWLRQGHVRGHXUVHQUHF\FODJH G
DSSDUHLOVGHFXLVVRQJD]FP
&RPELQDEOHDYHF VHORQ(1 PLQLFPVLSXLVVDQFHWRWDOHGXJD]
7RXVOHV9DULRGHFXLVVRQ6pULHHW 3XLVVDQFHHQUHF\FODJH HVWVXSpULHXUHjN:
6pULHjO
H[FHSWLRQGX9DULR*ULO PóK 'LVWDQFHPLQLPDOHDXGHVVXVG
XQ
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH G%$UHS: DSSDUHLOGHFXLVVRQpOHFWULTXHFP
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH 5pGXFWLRQGHVRGHXUV! /HPRGHUHF\FODJHQ
HVWSDV
UHFRPPDQGpGDQVOHFDVGH
%RQjVDYRLU &DUDFWpULVWLTXHV O
LQVWDOODWLRQG
XQ9DULR*ULOpOHFWULTXH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ 3RLGVGHO
DSSDUHLOHQYLUNJ
GHFXLVVRQ LQWHQVLYH
7pOpFRPPDQGHOLYUpHGHVpULH 9DOHXUVGHUDFFRUGHPHQW
)RQFWLRQ$XWRPDWLTXHDYHF 3XLVVDQFHWRWDOH:
WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
)RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ
7pPRLQGHVDWXUDWLRQGXILOWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj
FKDUERQDFWLI
ILOWUHVPpWDOOLTXHVDQWLJUDLVVH
ODYDEOHVDXODYHYDLVVHOOH
ILOWUHVjFKDUERQ&OHDQ$LU
/HILOWUHjFKDUERQ&OHDQ$LUHVWDGDSWp
jODSUpSDUDWLRQGHSRLVVRQVHWIUXLWV
GHPHUJUkFHjXQWUDLWHPHQWVSpFLDO
3URWHFWLRQFRQWUHOHVSDUWLFXOHV
DOOHUJqQHVJUkFHjXQWUDLWHPHQW
VSpFLDO
$OXPLQLXPDQRGLVp*DJJHQDX%ODFN
7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH
0HVXUHVHQPP
PRWHXU%/'&
6\VWqPHGHPRQWDJHVLPSOHSRXUXQH
LQVWDOODWLRQIDFLOH
(FODLUDJH/('EODQFQHXWUH.
DYHFYDULDWHXUG
LQWHQVLWpHQFRQWLQX
&RXOHXUGHO
pFODLUDJHGDQVGLIIpUHQWV
WRQVEODQFV.HOYLQ
SRXYDQWrWUHUpJOpHYLD+RPH&RQQHFW
3XLVVDQFHGHO·pFODLUDJH/(':
(FODLUDJHO[DYHFLQWHQVLWp
YDULDEOHHQFRQWLQX
&RQWU{OHGHODYHQWLODWLRQEDVpVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
WDEOHGHFXLVVRQFRPSDWLEOH
0HVXUHVHQPP
$PPVXUWRXWOHSRXUWRXU
%FHUWDLQVW\SHVGHFXLVVRQQHSHUPHWWHQWSDVG
pOLPLQHUWRXWH
O
KXPLGLWpUpVLGXHOOHGDQVODKRWWHjODILQGHODFXLVVRQ1RXV
UHFRPPDQGRQVjWLWUHSUpYHQWLIG
DSSOLTXHUXQHSHLQWXUH
DQWLPRLVLVVXUHVXUOHSRXUWRXUGHO
pYLGHPHQWGXSODIRQG
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
+RWWHGHSODIRQG6pULH &RQVHLOVG
LQVWDOODWLRQ
$& ,QVWDOODWLRQGLUHFWHDXSODIRQG
/DKRWWHGHSODIRQGGRLWrWUH
² ,QWpJUDWLRQKDUPRQLHXVHGDQV FRQVLGpUpHFRPPHXQHYHQWLODWLRQGH
O
DUFKLWHFWXUHGHODFXLVLQH SLqFHORUVTXHODGLVWDQFHTXLODVpSDUH
² $OXPLQLXPPDVVLIWUDYDLOOpDYHF GXSODQGHFXLVVRQHVWVXSpULHXUHj
SUpFLVLRQ FPFDUO
DVSLUDWLRQGHVYDSHXUV
$& ࡱ ² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ VHUDOLPLWpH3RXUDWWHLQGUHOHQLYHDX
*DJJHQDX/LJKW ࡱ+7 pQHUJLH G
DVSLUDWLRQRSWLPDOLOIDXWTXHOD
%URQ]H ² )LOWUHVjDVSLUDWLRQSpULSKpULTXH SXLVVDQFHG
DVSLUDWLRQUHSUpVHQWH
+RPH&RQQHFW ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH jIRLVOHYROXPHGHODSLqFH
/DUJHXUFP SDU6HQVRUDGDSWHODSXLVVDQFH
0RGHUHF\FODJH G
DVSLUDWLRQDXYROXPHGHVYDSHXUV /
LQVWDOODWLRQVpFXULVpHGHO
DSSDUHLO
GHFXLVVRQ QpFHVVLWHXQHVWUXFWXUHGHIL[DWLRQ
$FFHVVRLUHVHQRSWLRQ ² ,QVWDOODWLRQIDFLOHHWUDSLGH DGpTXDWH1HMDPDLVIL[HUGLUHFWHPHQW
$$ ࡱ GLUHFWHPHQWDXSODIRQG O
DSSDUHLOVXUGHVGDOOHVGHSODFRSOkWUH
ILOWUHVjFKDUERQ ࡱ+7 ² 5HPSODFHPHQWIDFLOHGHVILOWUHV RXGHVPDWpULDX[GHFRQVWUXFWLRQ
DFWLI&OHDQ$LUGHUHPSODFHPHQW ² 0RGHUHF\FODJH OpJHUVVLPLODLUHV
SRXUOHUHF\FODJHGHO·DLU 'LVWDQFHPLQLPDOHDXGHVVXVG
XQH
3RXUKRWWHGHSODIRQG$& 3HUIRUPDQFHV WDEOHJD]FPPLQLPXPFPVL
HW$& 3XLVVDQFHSRVLWLRQLQWHQVLYH SXLVVDQFHWRWDOHGXJD]VXSpULHXUH
$$ ࡱ 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ jN:
ILOWUHVjFKDUERQ ࡱ+7 ODQRUPH(1 'LVWDQFHPLQLPDOHDXGHVVXVG
XQ
DFWLIUpJpQpUDEOHVGHUHPSODFHPHQW 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ DSSDUHLOGHFXLVVRQpOHFWULTXHFP
SRXUOHUHF\FODJHGHO·DLU (1 /HPRGHUHF\FODJHQ
HVWSDV
3RXUKRWWHGHSODIRQG$& 5pGXFWLRQGHVRGHXUVHQUHF\FODJH UHFRPPDQGpGDQVOHFDVGH
HW$& VHORQ(1 O
LQVWDOODWLRQG
XQ9DULR*ULOpOHFWULTXH
3XLVVDQFHHQUHF\FODJH 3RLGVGHO
DSSDUHLOHQYLUNJ
&RPELQDEOHDYHF PóK
7RXVOHV9DULRGHFXLVVRQ6pULHHW G%$UHS: 9DOHXUVGHUDFFRUGHPHQW
6pULHjO
H[FHSWLRQGX9DULR*ULO 5pGXFWLRQGHVRGHXUV! 3XLVVDQFHWRWDOH:
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH 3UpYRLUXQFkEOHGHUDFFRUGHPHQW
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH &DUDFWpULVWLTXHV
YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ
%RQjVDYRLU LQWHQVLYH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ 7pOpFRPPDQGHOLYUpHGHVpULH
GHFXLVVRQ )RQFWLRQ$XWRPDWLTXHDYHF
WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU
)RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWH
PLQ
7pPRLQGHVDWXUDWLRQGXILOWUH
jJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGXILOWUH
jFKDUERQDFWLI
ILOWUHVPpWDOOLTXHVDQWLJUDLVVH
ODYDEOHVDXODYHYDLVVHOOH
ILOWUHVjFKDUERQ&OHDQ$LU
/HILOWUHjFKDUERQ&OHDQ$LUHVWDGDSWp
jODSUpSDUDWLRQGHSRLVVRQVHWIUXLWV
GHPHUJUkFHjXQWUDLWHPHQWVSpFLDO
3URWHFWLRQFRQWUHOHVSDUWLFXOHV
DOOHUJqQHVJUkFHjXQWUDLWHPHQW
VSpFLDO
$OXPLQLXPDQRGLVp*DJJHQDX/LJKW
%URQ]H
7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH
PRWHXU%/'&
&RQWU{OHGHODYHQWLODWLRQEDVpVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHF
ODWDEOHGHFXLVVRQFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
+RWWHGHSODIRQG6pULH &RQVHLOVG
LQVWDOODWLRQ
$& ,QVWDOODWLRQGDQVXQIDX[SODIRQG
/DKRWWHGHSODIRQGGRLWrWUH
² ,QWpJUDWLRQGLVFUqWHGDQVODFXLVLQH FRQVLGpUpHFRPPHXQHYHQWLODWLRQGH
² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ SLqFHORUVTXHODGLVWDQFHTXLODVpSDUH
pQHUJLH GXSODQGHFXLVVRQHVWVXSpULHXUHj
² )LOWUHVjDVSLUDWLRQSpULSKpULTXH FPFDUO·DVSLUDWLRQGHVYDSHXUV
$& ࡱ ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH VHUDOLPLWpH3RXUDWWHLQGUHOD
*DJJHQDX/LJKW ࡱ+7 SDU6HQVRUDGDSWHODSXLVVDQFH SXLVVDQFHG·DVSLUDWLRQRSWLPDOHLOIDXW
%URQ]H G
DVSLUDWLRQDXYROXPHGHVYDSHXUV TXHODSXLVVDQFHG·DVSLUDWLRQUHSUpVHQWH
+RPH&RQQHFW GHFXLVVRQ jIRLVOHYROXPHGHODSLqFH
/DUJHXUFP ² ,QVWDOODWLRQVLPSOHHWUDSLGH /
LQVWDOODWLRQVpFXULVpHGHO
DSSDUHLO
(YDFXDWLRQH[WpULHXUHRXPRGH GLUHFWHPHQWDXSODIRQG QpFHVVLWHXQHVWUXFWXUHGHIL[DWLRQ
UHF\FODJH ² 5HPSODFHPHQWIDFLOHGHVILOWUHV DGpTXDWH1HMDPDLVIL[HUGLUHFWHPHQW
² (YDFXDWLRQH[WpULHXUHRXPRGH O
DSSDUHLOVXUGHVGDOOHVGHSODFRSOkWUH
/HSUL[FRPSUHQG UHF\FODJH RXGHVPDWpULDX[GHFRQVWUXFWLRQ
WpOpFRPPDQGH OpJHUVVLPLODLUHV
3HUIRUPDQFHV 'LVWDQFHPLQLPDOHHQWUHODKRWWHHW
$FFHVVRLUHVHQRSWLRQ 3XLVVDQFHSRVLWLRQLQWHQVLYH OHPRGXOHILOWUHH[WHUQHFP
$$ ࡱ 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ (QPRGHUHF\FODJHFRPPDQGHU
0RGXOHGHUHF\FODJH ࡱ+7 ODQRUPH(1 REOLJDWRLUHPHQWOHPRGXOHGH
LQFOXDQWILOWUHFKDUERQDFWLI&OHDQ$LU 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ UHF\FODJH&OHDQ$LU
,QR[ (1 'LVWDQFHPLQLPDOHDXGHVVXVG
XQH
$$ ࡱ 3UHVVLRQDFRXVWLTXHPHVXUpHVHORQ WDEOHJD]FPPLQLPXPFPVL
0RGXOHGHUHF\FODJH ࡱ+7 (1 SXLVVDQFHWRWDOHGXJD]VXSpULHXUH
LQFOXDQWILOWUHFKDUERQDFWLI&OHDQ$LU 5pGXFWLRQGHVRGHXUVHQUHF\FODJH jN:
%ODQF VHORQ(1 'LVWDQFHPLQLPDOHDXGHVVXVG
XQ
$$ ࡱ 3XLVVDQFHHQpYDFXDWLRQ DSSDUHLOGHFXLVVRQpOHFWULTXHFP
ILOWUH&OHDQ$LUSRXU ࡱ+7 PóK /HPRGHUHF\FODJHQ
HVWSDV
XQHIRUWHUpGXFWLRQGHVRGHXUVJUkFH G%$UHS: UHFRPPDQGpGDQVOHFDVGH
jODJUDQGHVXUIDFHGHILOWUDWLRQ 3XLVVDQFHHQUHF\FODJH O
LQVWDOODWLRQG
XQ9DULR*ULOpOHFWULTXH
3RXUPRGXOHGHUHF\FODJH PóK %LHQV
DVVXUHUGXUDQWO
LQVWDOODWLRQGH
$$HW$$ G%$UHS: O
pYDFXDWLRQTX
DXFXQERUGWUDQFKDQWHW
$$ DXFXQREVWDFOHQ
REVWUXHQWODFRQGXLWH
$$ ࡱ &DUDFWpULVWLTXHV 6LOHFRQGXLWG
XQHKRWWHHQPRGH
ILOWUHjFKDUERQDFWLI ࡱ+7 YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
UpJpQpUDQWSRXUPRGXOHGHUHF\FODJH LQWHQVLYH FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
$$HW$$ 7pOpFRPPDQGHOLYUpHGHVpULH RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
$$ )RQFWLRQ$XWRPDWLTXHDYHF ODKRWWHGRLWrWUHSUpYXDYHFXQH
WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU IRQFWLRQGHVpFXULWpDGDSWpH
&RPELQDEOHDYHF )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWH 3RLGVGHO
DSSDUHLOHQYLUNJ
7RXVOHV9DULRGHFXLVVRQ6pULH PLQ
7RXVOHV9DULRGHFXLVVRQ6pULH 7pPRLQGHVDWXUDWLRQGXILOWUHj 9DOHXUVGHUDFFRUGHPHQW
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH JUDLVVH 3XLVVDQFHWRWDOH:
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH ,QGLFDWHXUGHVDWXUDWLRQGXILOWUH &kEOHGHUDFFRUGHPHQWPDYHF
jFKDUERQDFWLI SULVH
%RQjVDYRLU )LOWUHDQWLJUDLVVHPpWDOOLTXHODYDEOH
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ DXODYHYDLVVHOOH
GHFXLVVRQ )LOWUHVUHFRXYHUWVG
$OXPLQLXPPDVVLI
DQRGLVp*DJJHQDX/LJKW%URQ]H
7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH
PRWHXU%/'&
0RWHXURULHQWDEOHVRUWLHG
DLUSRVVLEOH
GHVF{WpV
5DFFRUGF\OLQGULTXHPP
&RQWU{OHGHODYHQWLODWLRQEDVpVXUOH
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD
WDEOHGHFXLVVRQFRPSDWLEOH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j'
&RQVRPPDWLRQpQHUJpWLTXH
N:KDQ
&ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
&ODVVHG
HIILFDFLWpG
pFODLUDJH
&ODVVHG
HIILFDFLWpGXILOWUH
DQWLJUDLVVH(
1LYHDXVRQRUHPLQG%PD[G%
SRVLWLRQQRUPDOH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
+RWWHGHSODQGHWUDYDLO6pULH &RPELQDEOHDYHF ,QVWDOODWLRQDYHFGHVDSSDUHLOV9DULRGH
$/ 7RXVOHV9DULRGHFXLVVRQ6pULH FXLVVRQXQLTXHPHQWSRVVLEOHVDQV
7RXWHVOHVWDEOHVGHFXLVVRQ6pULH FRXYHUFOHV
² +RWWHWpOHVFRSLTXHGHSODQGH 7DEOHVGHFXLVVRQ6pULH 3XLVVDQFHPD[LPDOHGHVWDEOHVGH
WUDYDLOTXLjO
DUUrWVHGLVVLPXOH &,[[&([[ FXLVVRQN:
HQWLqUHPHQWGDQVOHSODQGHWUDYDLO /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
² 6HFRPELQHSDUIDLWHPHQWDYHFOHV %RQjVDYRLU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
9DULRGHOD6pULH /DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
² (FODLUDJH/('EODQFFKDXGDYHF GHFXLVVRQ UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$/ ࡱ YDULDWHXUG
LQWHQVLWpSRXUXQ QRWDPPHQWDXQLYHDXGHVGpFRXSHV
,QR[ ࡱ+7 pFODLUDJHRSWLPDO &RQFHUQDQWOHVDXWUHVPDWpULDX[
/DUJHXUFP GXSODQGHFXLVVRQ &DLVVRQVPRWHXUVFRUUHVSRQGDQWV YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
5HF\FODJHXQLTXHPHQW ² &DGUHHQLQR[PDVVLIG
XQH YRLUSDJHV GHWUDYDLO
6DQVPRWHXU pSDLVVHXUGHPPWUDYDLOOpDYHF /
LQWHUYDOOHGHSODQGHWUDYDLOUHVWDQW
$/ ࡱ XQHJUDQGHSUpFLVLRQ PLQPPHQWUHOHVGpFRXSHVGRLW
,QR[ ࡱ+7 ² 3HXWrWUHLQVWDOOpHVXUOHSODQGH rWUHUHQIRUFp,OHVWFRQVHLOOpG
XWLOLVHU
/DUJHXUFP WUDYDLODYHFFDGUHDSSDUHQWRXj ODWUDYHUVH$$
(YDFXDWLRQHWUHF\FODJH IOHXUGHSODQ 3RVVLELOLWpG
LQVWDOOHUXQIRXU
6DQVPRWHXU ² 6DQVPRWHXUFRPELQDEOHDYHFOHV $5XQLTXHPHQWSRXU$/ DXWRYHQWLOpVRXVSODQORUVTXHOD
FDLVVRQVPRWHXU%/'&*DJJHQDX FRQILJXUDWLRQGXPHXEOHOHSHUPHW
$FFHVVRLUHVG
LQVWDOODWLRQREOLJDWRLUHV 3RXUPLQLPLVHUOHVIXPpHVORUVGHV
$' ࡱ 3HUIRUPDQFHV FXLVVRQVJULOOpHVHWGHVSRrOpHVVH
3LqFHGHFRQQH[LRQ ࡱ+7 /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW UpIpUHUDX[PDQXHOVG
XWLOLVDWLRQGHV
SRXUWX\DX[$OXIOH[F\OLQGULTXHVGH GXPRWHXUVpSDUpDVVRFLp 9593
PP (QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
3RXU$/jO
DYDQWHWjO
DUULqUH &DUDFWpULVWLTXHV PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
$' ࡱ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ $5XQLTXHPHQWSRXU$/ FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
3LqFHGHFRQQH[LRQ ࡱ+7 LQWHQVLYH RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
SRXUJDLQHVSODWHVPPDYHF )RQFWLRQG
DVSLUDWLRQLQWHUPLWWHQWH ODKRWWHGRLWrWUHSUpYXDYHFXQH
ODPHOOHVGHJXLGDJH PLQ IRQFWLRQGHVpFXULWpDGDSWpH
3RXU$/HQGHVVRXV )RQFWLRQWHPSRULVDWLRQPLQ
$' ࡱ 7pPRLQGHVDWXUDWLRQGXILOWUHj &RQVHLOVG
LQVWDOODWLRQ
3LqFHGHFRQQH[LRQ ࡱ+7 JUDLVVH FRPSOpPHQWDLUHVSDJHV
$5XQLTXHPHQWSRXU$/
SRXUJDLQHVSODWHVPP )LOWUHVjJUDLVVHPpWDOOLTXHVODYDEOHV
3RXU$/jO
DYDQWHWjO
DUULqUH DXODYHYDLVVHOOH 9DOHXUVGHUDFFRUGHPHQW
(FODLUDJH/('EODQFFKDXG. 3XLVVDQFHWRWDOH:
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ DYHFYDULDWHXUG
LQWHQVLWpHQFRQWLQX &kEOHGHUDFFRUGHPHQWPDYHF
$$ ࡱ 3XLVVDQFHGHVDPSRXOHV[: SULVH
*ULOOHGHYHQWLODWLRQ ࡱ+7 ,QWHQVLWpOXPLQHXVHO[ &kEOHUpVHDXP
$5SRXU$/
SRXULQVWDOODWLRQHQUHF\FODJH &DFKHVGHVRUWLHG
DLUpFKDQJHDEOHV
$/
&RXOHXULQR[FPLQFOXVOHV (OpPHQWVGHUDFFRUGHPHQWHQRSWLRQ
pOpPHQWVGHIL[DWLRQKDXWHXUDMXVWDEOH
$$ ࡱ &RQVRPPDWLRQV
%DUUHGHUHQIRUWGH ࡱ+7 /HVYDOHXUVGHFRQVRPPDWLRQ
PHXEOHSRXUKRWWHGHSODQ$/FP FRUUHVSRQGHQWjODFRQILJXUDWLRQ
5HFRPPDQGpHSRXUUHQIRUFHUOHSODQ $/DYHFOHPRWHXU$5
GHWUDYDLOHWHQUHPSODFHPHQWGX &ODVVHG
HIILFDFLWppQHUJpWLTXH$SRXU
FKkVVLV XQHFODVVLILFDWLRQGH$j'
$$ ࡱ &RQVRPPDWLRQpQHUJpWLTXH
%DUUHGHUHQIRUWGH ࡱ+7 N:KDQ
PHXEOHSRXUKRWWHGHSODQ$/FP &ODVVHG
HIILFDFLWpGXPRWHXU$
5HFRPPDQGpHSRXUUHQIRUFHUOHSODQ &ODVVHG
HIILFDFLWpG
pFODLUDJH(
GHWUDYDLOHWHQUHPSODFHPHQWGX &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH&
FKkVVLV 1LYHDXVRQRUHG%PD[G%
$' ࡱ SRVLWLRQQRUPDOH
&ROOHFWHXUG
DLU ࡱ+7
PPF\OLQGULTXH &RQVHLOVG
LQVWDOODWLRQ
[PPHQWUpHG
DLUWX\DXURQG 3RXUOHVFDLVVRQVPRWHXUVpSDUpV
3RXUUDFFRUGHPHQWGH[$/DX[ FRUUHVSRQGDQWVHQPRGHpYDFXDWLRQ
PRWHXUV$5$5 RXUHF\FODJHVHUpIpUHUjODSDJH
$' ࡱ 5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
&ROOHFWHXUG
DLU ࡱ+7 FkEOHUpVHDX
SRXUJDLQHVSODWHVPP )L[HUOHERvWLHUpOHFWURQLTXHGHFRQWU{OH
[PPHQWUpHG
DLUJDLQHSODWH VXUODSDURLODWpUDOHGXPHXEOHEDVHW
3RXUUDFFRUGHPHQW$/YHUVOHEDV QRQVXUOHSODQFKHUEDVGXPHXEOHRX
DX[PRWHXUV$5$5 GLUHFWHPHQWVXUOHVRO
$' ࡱ /HVQRUPHVpQHUJpWLTXHVUHVWULFWLYHV
7X\DXIOH[LEOHSRXU ࡱ+7 HQ(XURSHQHSHUPHWWHQWSDV
JDLQHSODWH39&PP O
LQVWDOODWLRQGHOD$/ODUJHXU
3RXUOHUDFFRUGHPHQWSDUOHEDVGHOD FPHQpYDFXDWLRQH[WpULHXUH
$/DXFROOHFWHXUG
DLU$' 1RXVUHFRPPDQGRQVG
LQVWDOOHUOD
KRWWHGHSODQGHWUDYDLO$/HQ
$FFHVVRLUHVG
LQVWDOODWLRQHQRSWLRQ PRGHUHF\FODJHDYHFPRWHXUV
$$ ࡱ $/LQVWDOODWLRQDYHF9DULR
0RGXOHDGDSWDWHXU ࡱ+7 6pULHRX9DULR6pULHRX
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH SODQGHFXLVVRQODUJHXUPD[FP
DYHFPRWHXU6pULHHW6pULH $/LQVWDOODWLRQDYHF9DULR
6pULHRX9DULR6pULHRX
SODQGHFXLVVRQODUJHXUPD[FP
Raccord de tuyau 2 x ∅150 avant/arrière
Gaine plate avec AD 854 045
Tuyau rond avec AD 754 045
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
Avant/Arrière
AD 754 045
ou
AD 854 045
En bas
AD 854 043
Découpe et rainure
selon la table de cuisson
&RQILJXUDWLRQVG·LQVWDOODWLRQUHFRPPDQGpHVSRXUKRWWHGHSODQGHWUDYDLO6pULH
HWPRWHXUVVpSDUpV6pULH
%RQjVDYRLU²SRXUXQHSODQL!FDWLRQHWXQHLQVWDOODWLRQFRUUHFWHV
²/HUDFFRUGHPHQWGXWX\DXHVWSRVVLEOHSDUO·DYDQWSDUO·DUULqUHRXSDUOHGHVVRXVGHODKRWWHGHSODQGHWUDYDLO$//HVSLqFHVGHFRQQH[LRQFRUUHVSRQGDQWHVVRQW
GLVSRQLEOHVHWjFRPPDQGHUVHORQODFRQ=JXUDWLRQ
²(QFDVG·LQWpJUDWLRQjO·DUULqUHG·XQHWDEOHGHFXLVVRQJD]LOHVWSRVVLEOHG·XWLOLVHUGHVWX\DX[HQ39&/DSXLVVDQFHPD[LPDOHGHVWDEOHVGHFXLVVRQJD]HVWGHN:
²3RXUXQJXLGDJHRSWLPDOGHO·DLUQRXVFRQVHLOORQVGHVWX\DX[GHGLDPqWUHPP
²/HUDFFRUGHPHQWHQWUHJDLQHVSODWHVHWWX\DX[URQGVGRLWVHIDLUHjO·DLGHG·XQHSLqFHGHFRQQH[LRQ
²FRXGHVSDUH[KRUL]RQWDODYHFYHUWLFDOQpFHVVLWHQWG·rWUHUDFFRUGpVSDUXQPRUFHDXGHJDLQHSODWHTXLVHUDDGDSWpjODORQJXHXUGpVLUpH
²8QHERQQHpWDQFKpLWpGHVJDLQHVHVWWUqVLPSRUWDQWHSRXUpYLWHUOHVIXLWHVG·DLUHOOHSHXWVHIDLUHjO·DLGHGHO·DGKpVLI$'UpVLVWDQWjODFKDOHXUHWDX[89
²/HVQRUPHVpQHUJpWLTXHVUHVWULFWLYHVHQ(XURSHQHSHUPHWWHQWSDVO
LQVWDOODWLRQGHOD$/ODUJHXUFPHQpYDFXDWLRQH[WpULHXUH1RXVUHFRPPDQGRQVG
LQVWDOOHU
ODKRWWHGHSODQGHWUDYDLO$/HQPRGHUHF\FODJHDYHFPRWHXUVYRLUFRQ=JXUDWLRQG
LQVWDOODWLRQ
²/HV9DULRGHFXLVVRQDYHFXQHIRUPDWLRQLQWHQVLYHGHYDSHXUWHOVTXH9DULR7HSSDQ<DNL9DULR*ULOpOHFWULTXHGRLYHQWrWUHSODFpVDXFHQWUH
SDUUDSSRUWjO·DSSDUHLOGHYHQWLODWLRQGDQVOHFDVG·XQ9DULR*ULOpOHFWULTXHOHPRGHUHF\FODJHQ·HVWSDVUHFRPPDQGp
²)L[HUOHERvWLHUpOHFWURQLTXHGHPDQLqUHVpFXULVpHjODSDURLODWpUDOHGXPHXEOHEDVQHSDVOHSODFHUVXUOHSODQFKHULQIpULHXURXVXUOHVRO
&RQILJXUDWLRQG·LQVWDOODWLRQ &RQILJXUDWLRQG·LQVWDOODWLRQ
[$/DYHF$5pYDFXDWLRQH[WpULHXUH$5UHF\FODJH [$/DYHF$5pYDFXDWLRQH[WpULHXUH$5UHF\FODJH
5DFFRUGHPHQWSDUO·DYDQWDYHFJDLQHSODWHRX$OXIOH[PP 5DFFRUGHPHQWSDUOHEDVDYHFJDLQHSODWHPP
LQVWDOODWLRQGDQVOHPHXEOHEDV LQVWDOODWLRQGDQVOHPHXEOHEDV
%RQjVDYRLU %RQjVDYRLU
²/HFROOHFWHXUG·DLUSHXWrWUHYLVVpGLUHFWHPHQWVXUOHPRWHXU/DSLqFHVHUYDQW ²/HFROOHFWHXUG·DLUSHXWrWUHYLVVpGLUHFWHPHQWVXUOHPRWHXU/DSLqFHVHUYDQWGH
GHUpGXFWHXUOLYUpHGHVpULHQ·DSDVEHVRLQG·rWUHLQVWDOOpHGDQVFHFDV UpGXFWHXUOLYUpHGHVpULHQ·DSDVEHVRLQG·rWUHLQVWDOOpHGDQVFHFDV
²3RXUXQHSHUIRUPDQFHRSWLPDOHLOHVWQpFHVVDLUHG
DYRLUVXIILVDPPHQWG
HVSDFH ²3RXUXQHSHUIRUPDQFHRSWLPDOHLOHVWQpFHVVDLUHG
DYRLUVXIILVDPPHQWG
HVSDFH
SRXUO
pYDFXDWLRQGHO
DLUUHF\FOpPLQFPòSDUPRWHXU1RXVYRXVFRQVHLOORQV SRXUO
pYDFXDWLRQGHO
DLUUHF\FOpPLQFPòSDUPRWHXU1RXVYRXVFRQVHLOORQV
G
LQVWDOOHUODJULOOHGHYHQWLODWLRQ$$ G
LQVWDOOHUODJULOOHGHYHQWLODWLRQ$$
/LVWHGHVDFFHVVRLUHV /LVWHGHVDFFHVVRLUHV
²[$'SLqFHGHFRQQH[LRQSRXUJDLQHVURQGHV[PP ²[$'SLqFHGHFRQQH[LRQSRXUJDLQHVSODWHVSDUOHGHVVRXV
²[$'UDFFRUGJDLQHSODWHDGDSWDWHXUF\OLQGULTXH [PP
²[$'FROOHFWHXUG·DLUJDLQHSODWHSRXU$/PP ²[$'FROOHFWHXUG·DLUJDLQHSODWHSRXU$/PP
²[$'WX\DXIOH[LEOHSRXUJDLQHSODWHPP ²[$'WX\DXIOH[LEOHSRXUJDLQHSODWHPP
²[$'DGKpVLISRXUpWDQFKpLILHUOHVUDFFRUGVGHVJDLQHVG·pYDFXDWLRQ ²[$'DGKpVLISRXUpWDQFKpLILHUOHVUDFFRUGVGHVJDLQHVG·pYDFXDWLRQ
* Toutes les tables de cuisson avec une profondeur de découpe 492 : min.750 * Toutes les tables de cuisson avec une profondeur de découpe 492 : min.750
$SSDUHLOVG
DVSLUDWLRQ
+RWWHGHSODQGHWUDYDLO6pULH &RQVRPPDWLRQV
$/ &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j'
² +RWWHWpOHVFRSLTXHGHSODQGH &RQVRPPDWLRQpQHUJpWLTXH
WUDYDLOTXLjO
DUUrWGLVSDUDvW N:KDQ
HQWLqUHPHQWGDQVOHSODQGHWUDYDLO &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
² ,QVWDOODWLRQjIOHXUGHSODQ &ODVVHG
HIILFDFLWpG
pFODLUDJH
² &RPELQDLVRQSDUIDLWHSRXUXQH &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH%
೦1RXYHDX LQVWDOODWLRQjIOHXUGHSODQGDQV 1LYHDXVRQRUHPLQ'%PD['%
$/೦ ࡱ XQHVHXOHGpFRXSHDYHFWDEOH)OH[ SRVLWLRQQRUPDOH
*DJJHQDX ࡱ+7 ,QGXFWLRQ6pULHHW&;
%ODFN9HUUH VDQVFDGUHFP &RQVHLOVG
LQVWDOODWLRQ
+RPH&RQQHFW ² 3DQQHDXGHYHUUHWUDQVSDUHQWSRXU &RPSDWLEOHDYHFOHVWDEOHVLQGXFWLRQ
/DUJHXUFP XQHLQWpJUDWLRQGLVFUqWHGDQV VDQVFDGUHGHOD6pULH&;
O
HQYLURQQHPHQWGHODFXLVLQH RXGHOD6pULH&,&,
$FFHVVRLUHVG
LQVWDOODWLRQ ² (FODLUDJHG
DPELDQFHGLIIXVpSDU SRXUXQHLQVWDOODWLRQjIOHXUGHSODQ
$$
ࡱ OHSDQQHDXGHYHUUH GDQVXQHVHXOHGpFRXSH
.LWSRXULQVWDOODWLRQ ࡱ+7 ² 7HFKQRORJLH*XLGHG$LUTXLDVVXUH 3RXUXQHLQVWDOODWLRQGDQVXQHVHXOH
$/HW$/GHIDoRQ XQIRUWWDX[GHFDSWDWLRQGHV GpFRXSHO
DFFHVVRLUHG
LQVWDOODWLRQ
FODVVLTXHVXUOHSODQGHWUDYDLO YDSHXUVVXUO
HQVHPEOHGHODWDEOH FRUUHVSRQGDQWGRLWrWUHSODFpHQWUHOHV
&RPSUHQGSLqFHVjSODFHUjFKDTXH GHFXLVVRQ DSSDUHLOV,OFRPSUHQGXQHEDUUHWWH
H[WUpPLWpGHODKRWWHSDUWLHYLVLEOHHQ GHMRQFWLRQHWGHVEDUUHVGHUHQIRUW
DOXPLQLXPDQRGLVpQRLUHWSODTXHGH 3HUIRUPDQFHV SRXUDVVXUHUODVWDELOLWpGXPHXEOH
IL[DWLRQVRXVOHSURILOpDOXPLQLXPGHOD 3XLVVDQFHSRVLWLRQLQWHQVLYH EDV
KRWWH$/ 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ /DKRWWHGHSODQGHWUDYDLOSHXWrWUH
$$ ࡱ ODQRUPH(13XLVVDQFH LQVWDOOpHVRLWGDQVXQPHXEOHEDVVRLW
.LWSRXULQVWDOODWLRQ ࡱ+7 DFRXVWLTXHPHVXUpHVHORQ HQWUHGHX[PHXEOHVEDVH[LQVWDOODWLRQ
GXPRWHXUjGLVWDQFHGLVWDQFHPD[LPDOH (13UHVVLRQDFRXVWLTXH GDQVXQvORWSURIRQGHXUVXSpULHXUHj
P PHVXUpHVHORQ(1 FP
&RPELQDEOHDYHFODKRWWHGHSODQGH 5pGXFWLRQGHVRGHXUVHQUHF\FODJH /DUJHXUGHVPHXEOHVEDVFPFP
WUDYDLO$/ VHORQ(1 RXFP
9$ ࡱ 3XLVVDQFHHQpYDFXDWLRQ 3RXUDVVXUHUXQHSHUIRUPDQFH
.LWG
LQVWDOODWLRQ ࡱ+7 PóK G
DVSLUDWLRQRSWLPDOHLOHVWGpFRQVHLOOp
SRXUXQHLQVWDOODWLRQGDQVXQHVHXOH G%$UHS: G
LQVWDOOHUGHVPHXEOHVKDXWVDXGHVVXV
GpFRXSHGHSODQGHWUDYDLO 5HF\FODJHDYHFOHVILOWUHVFKDUERQ GHODKRWWHGHSODQGHWUDYDLO
&RPELQDEOHDYHFODKRWWHGHSODQGH DFWLI&OHDQ$LUVWDQGDUG /HVGLVWDQFHVVXLYDQWHVGRLYHQWrWUH
WUDYDLO$/ PóK UHVSHFWpHV
&RPSRVpG
XQHEDUUHWWHGHMRQFWLRQHW G%$UHS: FPjJDXFKHHWjGURLWHHQWUHOD
GHEDUUHVGHUHQIRUWSRXUDVVXUHUOD KRWWHGHSODQGHWUDYDLOHWXQPXU
VWDELOLWpGXPHXEOHEDV &DUDFWpULVWLTXHV ODWpUDORXGHVPHXEOHVDGMDFHQWV
&RPSDWLEOHDYHFGHVPHXEOHVGH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOD FPHQWUHOHFDGUHGHODKRWWHGH
ODUJHXUFPFPRXFP WDEOHGHFXLVVRQ SODQGHWUDYDLOHWOHPXU
)RQFWLRQ$XWRPDWLTXHDYHF FPHQWUHOD]RQHG
DVSLUDWLRQGX
$FFHVVRLUHVHQRSWLRQ WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU *XLGHG$LUHWODSDURLG
XQPHXEOH
$$ ࡱ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ DGMDFHQW
)LOWUHVjFKDUERQ ࡱ+7 LQWHQVLYH /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
&OHDQ$LUGHUHPSODFHPHQWSRXU 7pPRLQGHVDWXUDWLRQGXILOWUHjJUDLVVH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
PRGXOHVGHUHF\FODJH$$ ,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
HW$$ FKDUERQDFWLI UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$$ ࡱ ILOWUHVjJUDLVVHPpWDOOLTXHVJUDQGH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
0RGXOHGHUHF\FODJH ࡱ+7 VXUIDFHOLYUpVGHVpULHIDFLOHVjUHWLUHU &RQFHUQDQWOHVDXWUHVPDWpULDX[
GHO
DLULQFOXDQWOHVILOWUHVjFKDUERQ HWODYDEOHVDXODYHYDLVVHOOH YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
&OHDQ$LU 6pFXULWpDQWLGpERUGHPHQWPOGH GHWUDYDLO
&RPELQDEOHDYHFODKRWWHGHSODQ FDSDFLWpDXQLYHDXGXILOWUHjJUDLVVHHW 3RXUO
LQVWDOODWLRQGXPRWHXUjGLVWDQFH
GHWUDYDLO$/ FDSDFLWpVXSSOpPHQWDLUHGHPODX LOIDXWFRPPDQGHUOHNLWG
LQVWDOODWLRQ
5pGXFWLRQGHVRGHXUV! QLYHDXGXPRWHXU FRUUHVSRQGDQWTXLFRPSUHQGOHV
$GDSWpjODSUpSDUDWLRQGHVSRLVVRQV )LOWUHjFKDUERQDFWLI&OHDQ$LU FRXYHUFOHVSRXUREWXUHUOHVVRUWLHV
HWIUXLWVGHPHUJUkFHjXQWUDLWHPHQW IDFLOHPHQWH[WUDFWLEOHVSDUOHKDXWSRXU G
DLU'LVWDQFHPD[LPDOHP
VSpFLDO OHPRGHUHF\FODJHGHO
DLU (QPRGHpYDFXDWLRQSUpYRLU
3URWHFWLRQFRQWUHOHVSDUWLFXOHV &DGUHHQDOXPLQLXPDQRGLVp O
LQVWDOODWLRQG
XQFODSHWDQWLUHWRXUDYHF
DOOHUJqQHVJUkFHjXQWUDLWHPHQWVSpFLDO *DJJHQDX%ODFN XQHSUHVVLRQG
RXYHUWXUHGHPD[3D
$$ ࡱ SDQQHDXGHFRPPDQGHSRXUOH (QPRGHpYDFXDWLRQH[WpULHXUHLOIDXW
0RGXOHGHUHF\FODJH ࡱ+7 UpJODJHGHVQLYHDX[SXLVVDQFHVHW WRXMRXUVV
DVVXUHUG
XQDSSRUWG
DLU
GHO
DLUDYHFILOWUHVjFKDUERQDFWLI SDQQHDXGHFRPPDQGHSRXUOH H[WpULHXUVXIILVDQWVLO
DSSDUHLOHVW
UpJpQpUDEOHV FRQWU{OHGHODWHFKQRORJLH*XLGHG$LU XWLOLVpHQPrPHWHPSVTX
XQIR\HUDYHF
&RPELQDEOHDYHFODKRWWHGHSODQ 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH FKHPLQpH
GHWUDYDLO$/ PRWHXU%/'& 3RXUXQHSHUIRUPDQFHRSWLPDOHHQ
5pGXFWLRQGHVRGHXUV! )OH[LELOLWpG
LQVWDOODWLRQGXPRWHXUVRLWj PRGHUHF\FODJHQRXVUHFRPPDQGRQV
5HWUDLWIDFLOHGXPRGXOHGHUHF\FODJH O
DYDQWGHODKRWWHSRXUXQHLQVWDOODWLRQ XQHVXUIDFHG
DXPRLQVFPòSRXU
SDUOHGHVVXVGHODKRWWHSRXU PXUDOHFRPSDFWHVRLWjO
DUULqUHVDQV ODFLUFXODWLRQGHO
DLUUHF\FOp
UpJpQpUDWLRQ SHUWHGHSODFHGDQVOHVWLURLUVSODFpV 8QPRGXOHGHUHF\FODJHGHO
DLUHVW
5pJpQpUDWLRQGDQVOHIRXUj& VRXVODWDEOHGHFXLVVRQVRLWVpSDUpH REOLJDWRLUHSRXUOHIRQFWLRQQHPHQWGH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH GHODKRWWHGLVWDQFHPD[P O
DSSDUHLOHQPRGHUHF\FODJH
jFKDUERQDFWLISRVVLELOLWpGHOH
UpJpQpUHUMXVTX
jIRLV 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV 9DOHXUVGHUDFFRUGHPHQW
PRGH'LJLWDO+RPH&RQQHFW 3XLVVDQFHWRWDOH:
&RPELQDEOHDYHF /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH &kEOHGHUDFFRUGHPHQWPDYHFSULVH
7DEOHVGHFXLVVRQ6pULH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp &RQVRPPDWLRQHQPRGHYHLOOHGLVSOD\
&,VDQVFDGUH GHVVHUYLFHV+RPH&RQQHFWGDQVOH pWHLQW:
7DEOHGHFXLVVRQ6pULH&; SD\VUHVSHFWLI/HVVHUYLFHV+RPH
VDQVFDGUH &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
'LVSRQLELOLWp$YULO ZZZKRPHFRQQHFWFRP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
$(SDLVVHXUGHODIDoDGHDYDQW
%PPSRXUODFLUFXODWLRQGHO
DLUUHF\FOp
PPSRXUO
pYDFXDWLRQGHO
DLUDYHFGHVFRQGXLWVGDQVODSOLQWKH
&PPSRXUO
pYDFXDWLRQGHO
DLUDYHFGHVFRQGXLWVGDQVODSOLQWKH
'$XPRLQVFPHQWUHOD]RQHG
DVSLUDWLRQ*XLGHG$LUHWODSDURLDUULqUH
GXPHXEOHEDV
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
+RWWHGHSODQGHWUDYDLO6pULH &RQVRPPDWLRQV
$/ &ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j'
² +RWWHWpOHVFRSLTXHGHSODQGH &RQVRPPDWLRQpQHUJpWLTXH
WUDYDLOTXLjO
DUUrWGLVSDUDvW N:KDQ
HQWLqUHPHQWGDQVOHSODQGHWUDYDLO &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
² &RPELQDLVRQSDUIDLWHSRXUXQH &ODVVHG
HIILFDFLWpG
pFODLUDJH
LQVWDOODWLRQjIOHXUGHSODQGDQV &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH%
೦1RXYHDX XQHVHXOHGpFRXSHDYHFWDEOH 1LYHDXVRQRUHPLQ'%PD['%
$/೦ ࡱ )OH[,QGXFWLRQ6pULHHW&; SRVLWLRQQRUPDOH
*DJJHQDX ࡱ+7 VDQVFDGUHFP
%ODFN9HUUH ² (FUDQHQYHUUHWUDQVSDUHQWSRXU &RQVHLOVG
LQVWDOODWLRQ
+RPH&RQQHFW XQHLQWpJUDWLRQGLVFUqWHGDQV &RPSDWLEOHDYHFOHVWDEOHVLQGXFWLRQ
/DUJHXUFP O
HQYLURQQHPHQWGHODFXLVLQH VDQVFDGUHGHOD6pULH&;
² (FODLUDJHG
DPELDQFHGLIIXVpSDU RXGHOD6pULH&,SRXUXQH
$FFHVVRLUHVG
LQVWDOODWLRQ O
pFUDQHQYHUUH LQVWDOODWLRQjIOHXUGHSODQGDQVXQH
$$
ࡱ ² 7HFKQRORJLH*XLGHG$LUTXLDVVXUH VHXOHGpFRXSH
.LWSRXULQVWDOODWLRQ ࡱ+7 XQIRUWWDX[GHFDSWDWLRQGHVYDSHXUV 3RXUXQHLQVWDOODWLRQGDQVXQHVHXOH
$/HW$/GHIDoRQ VXUO
HQVHPEOHGHODWDEOHGHFXLVVRQ GpFRXSHO
DFFHVVRLUHG
LQVWDOODWLRQ
FODVVLTXHVXUOHSODQGHWUDYDLO FRUUHVSRQGDQWGRLWrWUHSODFpHQWUHOHV
&RPSUHQGSLqFHVjSODFHUjFKDTXH 3HUIRUPDQFHV DSSDUHLOV,OFRPSUHQGXQHEDUUHWWH
H[WUpPLWpGHODKRWWHSDUWLHYLVLEOHHQ 3XLVVDQFHSRVLWLRQLQWHQVLYH GHMRQFWLRQHWGHVEDUUHVGHUHQIRUW
DOXPLQLXPDQRGLVpQRLUHWSODTXHGH 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ SRXUDVVXUHUODVWDELOLWpGXPHXEOHEDV
IL[DWLRQVRXVOHSURILOpDOXPLQLXPGHOD ODQRUPH(1 /DKRWWHGHSODQGHWUDYDLOSHXWrWUH
KRWWH$/ 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ LQVWDOOpHVRLWGDQVXQPHXEOHEDVVRLW
$$ ࡱ (1 HQWUHGHX[PHXEOHVEDVH[LQVWDOODWLRQ
.LWSRXULQVWDOODWLRQ ࡱ+7 3UHVVLRQDFRXVWLTXHPHVXUpHVHORQ GDQVXQvORWSURIRQGHXUVXSpULHXUHj
GXPRWHXUjGLVWDQFHGLVWDQFH (1 FP
PD[LPDOHP 5pGXFWLRQGHVRGHXUVHQUHF\FODJH /DUJHXUGHVPHXEOHVEDVFP
&RPELQDEOHDYHFODKRWWHGHSODQGH VHORQ(1 FPRXFP
WUDYDLO$/ 3XLVVDQFHHQpYDFXDWLRQ 3RXUDVVXUHUXQHSHUIRUPDQFH
9$ ࡱ PóK G
DVSLUDWLRQRSWLPDOHLOHVWGpFRQVHLOOp
.LWG
LQVWDOODWLRQ ࡱ+7 G%$UHS: G
LQVWDOOHUGHVPHXEOHVKDXWVDXGHVVXV
SRXUXQHLQVWDOODWLRQGDQVXQHVHXOH 5HF\FODJHDYHFOHVILOWUHVFKDUERQ GHODKRWWHGHSODQGHWUDYDLO
GpFRXSHGHSODQGHWUDYDLO DFWLI&OHDQ$LUVWDQGDUG /HVGLVWDQFHVVXLYDQWHVGRLYHQWrWUH
&RPELQDEOHDYHFODKRWWHGHSODQGH PóK UHVSHFWpHV
WUDYDLO$/ G%$UHS: FPjJDXFKHHWjGURLWHHQWUH
&RPSRVpG
XQHEDUUHWWHGHMRQFWLRQ 5pGXFWLRQGHVRGHXUV! ODKRWWHGHSODQGHWUDYDLOHWXQPXU
HWGHEDUUHVGHUHQIRUWSRXUDVVXUHU ODWpUDORXGHVPHXEOHVDGMDFHQWV
ODVWDELOLWpGXPHXEOHEDV &DUDFWpULVWLTXHV FPHQWUHOHFDGUHGHODKRWWHGH
&RPSDWLEOHDYHFGHVPHXEOHVGH &RQWU{OHGHODYHQWLODWLRQEDVpHVXUOD SODQGHWUDYDLOHWOHPXU
ODUJHXUFPFPRXFP WDEOHGHFXLVVRQ FPHQWUHOD]RQHG
DVSLUDWLRQGX
)RQFWLRQ$XWRPDWLTXHDYHF *XLGHG$LUHWODSDURLG
XQPHXEOH
$FFHVVRLUHVHQRSWLRQ WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU DGMDFHQW
$$ ࡱ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
)LOWUHVjFKDUERQ ࡱ+7 LQWHQVLYH SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
&OHDQ$LUGHUHPSODFHPHQWSRXU 7pPRLQGHVDWXUDWLRQGXILOWUHjJUDLVVH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
PRGXOHVGHUHF\FODJH$$ ,QGLFDWHXUGHVDWXUDWLRQGXILOWUHj UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
HW$$ FKDUERQDFWLI QRWDPPHQWDXQLYHDXGHVGpFRXSHV
$$ ࡱ ILOWUHVjJUDLVVHPpWDOOLTXHVJUDQGH &RQFHUQDQWOHVDXWUHVPDWpULDX[
0RGXOHGHUHF\ODJH ࡱ+7 VXUIDFHOLYUpVGHVpULHIDFLOHVjUHWLUHU YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
GHO
DLULQFOXDQWOHVILOWUHVjFKDUERQ HWODYDEOHVDXODYHYDLVVHOOH GHWUDYDLO
&OHDQ$LU 6pFXULWpDQWLGpERUGHPHQWPOGH 3RXUO
LQVWDOODWLRQGXPRWHXUjGLVWDQFH
&RPELQDEOHDYHFODKRWWHGHSODQ FDSDFLWpDXQLYHDXGXILOWUHjJUDLVVHHW LOIDXWFRPPDQGHUOHNLWG
LQVWDOODWLRQ
GHWUDYDLO$/ FDSDFLWpVXSSOpPHQWDLUHGHPODX FRUUHVSRQGDQWTXLFRPSUHQGOHV
5pGXFWLRQGHVRGHXUV! QLYHDXGXPRWHXU FRXYHUFOHVSRXUREWXUHUOHVVRUWLHV
$GDSWpjODSUpSDUDWLRQGHVSRLVVRQV )LOWUHjFKDUERQDFWLI&OHDQ$LU G
DLU'LVWDQFHPD[LPDOHP
HWIUXLWVGHPHUJUkFHjXQWUDLWHPHQW IDFLOHPHQWH[WUDFWLEOHVSDUOHKDXWSRXU (QPRGHpYDFXDWLRQSUpYRLUO
LQVWDOODWLRQ
VSpFLDO OHPRGHUHF\FODJHGHO
DLU G
XQFODSHWDQWLUHWRXUDYHFXQHSUHVVLRQ
3URWHFWLRQFRQWUHOHVSDUWLFXOHV &DGUHHQDOXPLQLXPDQRGLVp G
RXYHUWXUHGHPD[3D
DOOHUJqQHVJUkFHjXQWUDLWHPHQWVSpFLDO *DJJHQDX%ODFN (QPRGHpYDFXDWLRQH[WpULHXUHLOIDXW
$$ ࡱ SDQQHDXGHFRPPDQGHSRXUOH WRXMRXUVV
DVVXUHUG
XQDSSRUWG
DLU
0RGXOHGHUHF\ODJH ࡱ+7 UpJODJHGHVQLYHDX[SXLVVDQFHVHW H[WpULHXUVXIILVDQWVLO
DSSDUHLOHVW
GHO
DLUDYHFILOWUHVjFKDUERQDFWLI SDQQHDXGHFRPPDQGHSRXUOH XWLOLVpHQPrPHWHPSVTX
XQIR\HUDYHF
UpJpQpUDEOHV FRQWU{OHGHODWHFKQRORJLH*XLGHG$LU FKHPLQpH
&RPELQDEOHDYHFODKRWWHGHSODQ 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH 3RXUXQHSHUIRUPDQFHRSWLPDOHHQ
GHWUDYDLO$/ PRWHXU%/'& PRGHUHF\FODJHQRXVUHFRPPDQGRQV
5pGXFWLRQGHVRGHXUV! )OH[LELOLWpG
LQVWDOODWLRQGXPRWHXU XQHVXUIDFHG
DXPRLQVFPòSRXU
5HWUDLWIDFLOHGXPRGXOHGHUHF\FODJH VRLWjO
DYDQWGHODKRWWHSRXUXQH ODFLUFXODWLRQGHO
DLUUHF\FOp
SDUOHGHVVXVGHODKRWWHSRXU LQVWDOODWLRQPXUDOHFRPSDFWHVRLWj 8QPRGXOHGHUHF\FODJHGHO
DLUHVW
UpJpQpUDWLRQ O
DUULqUHVDQVSHUWHGHSODFHGDQVOHV REOLJDWRLUHSRXUOHIRQFWLRQQHPHQWGH
5pJpQpUDWLRQGDQVOHIRXUj& WLURLUVSODFpVVRXVODWDEOHGHFXLVVRQ O
DSSDUHLOHQPRGHUHF\FODJH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH VRLWVpSDUpHGHODKRWWH
jFKDUERQDFWLISRVVLELOLWpGHOH 9DOHXUVGHUDFFRUGHPHQW
UpJpQpUHUMXVTX
jIRLV 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV 3XLVVDQFHWRWDOH:
PRGH'LJLWDO+RPH&RQQHFW &kEOHGHUDFFRUGHPHQWPDYHF
&RPELQDEOHDYHF /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH SULVH
7DEOHGHFXLVVRQ6pULH&, &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp &RQVRPPDWLRQ6WDQGE\'LVSOD\
VDQVFDGUH GHVVHUYLFHV+RPH&RQQHFWGDQVOH pWHLQW:
7DEOHGHFXLVVRQ6pULH&; SD\VUHVSHFWLI/HVVHUYLFHV+RPH 3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
VDQVFDGUH &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
'LVSRQLELOLWp0DUV ZZZKRPHFRQQHFWFRP
'LVSRQLELOLWp$YULO /HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
&RPSDWLEOHDYHFOHVWDEOHVGHFXLVVRQVDQVFDGUHGHOD6pULH
&;RX6pULH&,
0HVXUHVHQPP
0HVXUHVHQPP
0HVXUHVHQPP
$(SDLVVHXUGHODIDoDGHDYDQW
%PPSRXUODFLUFXODWLRQGHO
DLUUHF\FOp
PPSRXUO
pYDFXDWLRQGHO
DLUDYHFGHVFRQGXLWVGDQVODSOLQWKH
&PPSRXUO
pYDFXDWLRQGHO
DLUDYHFGHVFRQGXLWVGDQVODSOLQWKH
'$XPRLQVFPHQWUHOD]RQHG
DVSLUDWLRQ*XLGHG$LUHWODSDURLDUULqUH
GXPHXEOHEDV
0HVXUHVHQPP
9XHGHGHVVXV
0HVXUHVHQPP &RPSDWLEOHDYHFOHVWDEOHVGHFXLVVRQVDQVFDGUHGHOD6pULH
&;RX6pULH&,
0HVXUHVHQPP
9DULR$pUDWHXU6pULH &DLVVRQVPRWHXUVFRUUHVSRQGDQWV &RQVHLOVG
LQVWDOODWLRQ
9/ YRLUSDJHV ,OHVWUHFRPPDQGpG
LQVWDOOHUXQ
PRWHXUSDU9/
² 3RXUXQHFRPELQDLVRQSDUIDLWHj /HPRGHUHF\FODJHQ
HVWSDV
IOHXUGHSODQDYHFOHVDXWUHV UHFRPPDQGpGDQVOHFDVGH
DSSDUHLOV9DULRGHOD6pULH O
LQVWDOODWLRQG
XQ9DULR*ULOpOHFWULTXH
² &DGUHHQLQR[PDVVLIG
XQH /DUJHXUPD[LPDOHGHODSODTXHGH
pSDLVVHXUGHPPWUDYDLOOpDYHF $5 FXLVVRQHQWUH9/FP
XQHJUDQGHSUpFLVLRQ /H9DULR*ULOpOHFWULTXHHWOH9DULR*D]
² /LYUpDYHFERXWRQGHFRPPDQGH :RNGRLYHQWrWUHSODFpVHQWUH9/
HQLQR[PDVVLI (QFDVG
XWLOLVDWLRQjF{WpG
XQDSSDUHLO
² 6\VWqPHGHYHQWLODWLRQWUqV JD]OHGpIOHFWHXUG
DLU$$
SHUIRUPDQWHWSDUWLFXOLqUHPHQW HVWUHFRPPDQGpSRXUDVVXUHUOD
೦1RXYHDX VLOHQFLHX[QRWDPPHQWDYHFOH SHUIRUPDQFHPD[LPDOHGHODWDEOHGH
9/ ೦ ࡱ FDLVVRQPRWHXUVpSDUp$5 FXLVVRQ
,QR[ ࡱ+7 ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH $5 /
DSSDUHLOV
LQWqJUHGDQVOHSODQGH
/DUJHXUFP SDU6HQVRUDGDSWHODSXLVVDQFH WUDYDLOSDUOHGHVVXV
(YDFXDWLRQH[WpULHXUHRXPRGH G
DVSLUDWLRQDXYROXPHGHVYDSHXUV 6HORQOHW\SHG
LQVWDOODWLRQVXUOHSODQ
UHF\FODJH GHFXLVVRQ DYHFFDGUHDSSDUHQWRXjIOHXUGH
6DQVPRWHXU ² 3ODQLILFDWLRQHWLQVWDOODWLRQIDFLOHV SODQO
HPSODFHPHQWGHODGpFRXSHGX
SODQGHWUDYDLOHWOHSRVLWLRQQHPHQWGHV
$FFHVVRLUHVG
LQVWDOODWLRQ 3HUIRUPDQFHV ERXWRQVGHFRPPDQGHSHXYHQWYDULHU
$' ࡱ /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW $5 /RUVG
XQHFRPELQDLVRQGHSOXVLHXUV
3LqFHGHFRQQH[LRQ ࡱ+7 GXPRWHXUVpSDUpDVVRFLpYRLUWDEOHDX 9DULR6pULHXQHEDUUHWWHGH
IOH[LEOHSRXU9/HW9/ SDJH MRQFWLRQ9$GRLWrWUHLQVpUpHHQWUH
PPSODW FKDTXHDSSDUHLO3UpYRLUODEDUUHWWH
$' ࡱ &DUDFWpULVWLTXHV GHMRQFWLRQDGpTXDWHVHORQOHW\SH
3LqFHGHFRQQH[LRQ ࡱ+7 %RXWRQGHFRPPDQGHDYHFDQQHDX G
LQVWDOODWLRQ
SRXU9/HW9/SRXUH[WHQVLRQ OXPLQHX[LQFOXVGDQVODOLYUDLVRQ $5 /DFKDUJHDGPLVVLEOHHWODVWDELOLWp
DYHFJDLQHSODWHPPSRXUSODQ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ GRLYHQWrWUHDVVXUpHVSDUGHVUHQIRUWV
GHWUDYDLOWUqVSURIRQG LQWHQVLYH DSSURSULpVHQSDUWLFXOLHUGDQVOHFDV
9$ ࡱ )RQFWLRQ$XWRPDWLTXHDYHF GHSODQVGHWUDYDLOPLQFHV/HSRLGVGH
%DUUHWWHGHMRQFWLRQ ࡱ+7 WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU O
DSSDUHLOHWOHSRLGVVXSSOpPHQWDLUH
SRXULQVWDOODWLRQjIOHXUGHSODQGH )LOWUHDQWLJUDLVVHPpWDOOLTXHDYHFXQ GHVUpFLSLHQWVFKDUJpVVRQWjSUHQGUH
SOXVLHXUVDSSDUHLOV9DULR6pULH IRUWWDX[G
DEVRUSWLRQGHVJUDLVVHV HQFRQVLGpUDWLRQ
9$ ࡱ )LOWUHDQWLJUDLVVHODYDEOHDXODYHYDLVVHOOH ,QIRUPDWLRQVFRPSOpPHQWDLUHVSRXU
%DUUHWWHGHMRQFWLRQ ࡱ+7 7pPRLQGHVDWXUDWLRQGHVILOWUHV XQHLQVWDOODWLRQjIOHXUGHSODQGH
SRXULQVWDOODWLRQFODVVLTXHVXUOHSODQ DQWLJUDLVVHHWFKDUERQDFWLI $5 WUDYDLO
GHWUDYDLOGHSOXVLHXUVDSSDUHLOV9DULR )OX[G
DLULQWpULHXURSWLPLVpSRXU /
LQVWDOODWLRQHVWSRVVLEOHGDQVGHV
6pULH XQJXLGDJHGHODFLUFXODWLRQGHO
DLU SODQVGHWUDYDLOHQSLHUUHV\QWKpWLTXHV
HIILFDFH RXHQERLVPDVVLI)DLUHDWWHQWLRQjOD
$FFHVVRLUHVHQRSWLRQ )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ UpVLVWDQFHWKHUPLTXHHWjO
pWDQFKpLWp
$$ ࡱ *ULOOHGHYHQWLODWLRQpPDLOOpHODYDEOH QRWDPPHQWDXQLYHDXGHVGpFRXSHV
0RGXOHDGDSWDWHXU ࡱ+7 DXODYHYDLVVHOOH &RQFHUQDQWOHVDXWUHVPDWpULDX[
SRXUFRQWDFWHXUGHIHQrWUH &RXGHGHUDFFRUGHPHQWSRXU YHXLOOH]FRQVXOWHUOHIDEULFDQWGXSODQ
$$ ࡱ pYDFXDWLRQGHO
DLUOLYUpGHVpULH GHWUDYDLO
'pIOHFWHXUG
DLUSRXU ࡱ+7 =RQHHQFDVGHGpERUGHPHQWFDSDFLWp /DUDLQXUHGRLWrWUHFRQWLQXHHWGH
LQVWDOODWLRQ9/jF{WpG
DSSDUHLOV PO QLYHDXSRXUDVVXUHUXQHLQVWDOODWLRQ
GHFXLVVRQJD] &RQWU{OHGHODYHQWLODWLRQEDVpVXUOH XQLIRUPHGHVDSSDUHLOVVXUOHMRLQW1H
UpJODJHGHODWDEOHGHFXLVVRQDYHFOD SDVXWLOLVHUGHMRLQWVGHUHJDUQLVVDJH
&RPELQDEOHDYHF WDEOHGHFXLVVRQFRPSDWLEOH SDUOHGHVVRXV
9,[ /DODUJHXUGHODMRQFWLRQGpSHQGGH
9*[ ,QWpJUDWLRQGDQVUpVHDXGRPHVWLTXH ODWROpUDQFHHQWUHOHVDSSDUHLOVHWOD
9*[ SRXUVHUYLFHVGLJLWDX[+RPH&RQQHFW GpFRXSHGXSODQGHWUDYDLO
93[[ YLDXQFkEOH/$1UHFRPPDQGpRX 6LOHFRQGXLWG
XQHKRWWHHQPRGH
95[[ VDQVILOYLD:L)L G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
GHVVHUYLFHV+RPH&RQQHFWGDQVOH ODKRWWHGRLWrWUHSUpYXDYHFXQH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH IRQFWLRQGHVpFXULWpDGDSWpH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV 0HUFLGHFRQVXOWHUOHVGRQQpHV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU G
LQVWDOODWLRQ
ZZZKRPHFRQQHFWFRP
&RQILJXUDWLRQVUHFRPPDQGpHVSRXU
&RQVRPPDWLRQV O
LQVWDOODWLRQGHVDpUDWHXUVGHSODQGH
/HVYDOHXUVGHFRQVRPPDWLRQ WUDYDLODYHFOHFDLVVRQPRWHXUHWOHV
FRUUHVSRQGHQWjODFRQILJXUDWLRQDYHF DFFHVVRLUHVGHUDFFRUGHPHQWjOD
OHPRWHXU$5 SDJHVj
&ODVVHG
HIILFDFLWppQHUJpWLTXH$VXU
XQHpFKHOOHGH$j' 9DOHXUVGHUDFFRUGHPHQW
&RQVRPPDWLRQpQHUJpWLTXHN:KDQ &RQVRPPDWLRQWRWDOH:
&ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$ &kEOHGHUDFFRUGHPHQWP
&ODVVHG
HIILFDFLWpG
pFODLUDJH DYHFSULVH
&ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH% 3UpYRLUXQFkEOH/$1
1LYHDXVRQRUHPLQ'%PD['% &RQVRPPDWLRQ6WDQGE\'LVSOD\
SRVLWLRQQRUPDOH pWHLQW:
3RXUGpVDFWLYHUODIRQFWLRQ:,),VH
UpIpUHUjODQRWLFHG
XWLOLVDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
0HVXUHVHQPP
0HVXUHVHQPP ĂĂĂĂĂĂĂĂ
0RQWDJHGXERXWRQGHFRPPDQGHLQVWDOODWLRQFODVVLTXH 0RQWDJHGXERXWRQGHFRPPDQGHLQVWDOODWLRQjIOHXUGHSODQ
0HVXUHVHQPP 0HVXUHVHQPP
$FFHVVRLUHVG
LQVWDOODWLRQ
$'3LqFHGHFRQQH[LRQIOH[LEOHSRXU $'3LqFHGHFRQQH[LRQ9/ 9/SRXUH[WHQVLRQ
9/ 9/PPSODW DYHFJDLQHSODWHPPSRXUSODQGHWUDYDLOWUqVSURIRQG
0HVXUHVHQPP
&RQILJXUDWLRQVG·LQVWDOODWLRQUHFRPPDQGpHVSRXU9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH
%RQjVDYRLU²SRXUXQHSODQL!FDWLRQHWXQHLQVWDOODWLRQFRUUHFWH
²3UHQGUHHQFRQVLGpUDWLRQODSURIRQGHXUGXPHXEOHHWODSURIRQGHXUGXSODQGHWUDYDLOVXSpULHXUHjFHOOHGXPHXEOH
²8QHERQQHpWDQFKpLWpGHVJDLQHVHVWWUqVLPSRUWDQWHSRXUpYLWHUOHVIXLWHVG·DLUHOOHSHXWVHIDLUHjO·DLGHGHO·DGKpVLIDGDSWpRXHQXWLOLVDQWOHVSLqFHVGHFRQQH[LRQ
DGpTXDWHV
²/HV9DULRGHFXLVVRQWHOVTXH9DULR*ULOpOHFWULTXHRX9DULRJD]:RNGRLYHQWrWUHSODFpVHQWUH9/
²/HPRGHUHF\FODJHQ·HVWSDVUHFRPPDQGpGDQVOHFDVGHO·LQVWDOODWLRQG·XQ9DULR*ULOpOHFWULTXH
²/HUDFFRUGHPHQWGHODJDLQHDX9DULRDpUDWHXU9/HVWSRVVLEOHYHUVOHEDVRXODWpUDOHPHQWJUkFHDX[SLqFHVGHFRQQH[LRQFRPSOpPHQWDLUHVHW&HOOHVFLVRQW
OLYUDEOHVHQWDQWTX·DFFHVVRLUHVHQRSWLRQYRLUFLGHVVRXV
²3
RXUOHVGLPHQVLRQVKRUVWRXWWRWDOHVGXPHXEOHLOIDXWSUHQGUHHQFRPSWHOHVGLPHQVLRQVLQGLYLGXHOOHVO·HPSODFHPHQWGHVJDLQHVHWGXPRWHXUVpSDUp
/HPRWHXUVpSDUpSHXWrWUHWRXUQpGDQVWRXWHVOHVGLUHFWLRQVHQIRQFWLRQGHODGLUHFWLRQVRXKDLWpHSRXUO·pYDFXDWLRQH[WpULHXUHGHO·DLURXSRXUOHUHWUDLWGHV=OWUHVj
FKDUERQ&OHDQ$LU
,QVWDOODWLRQVRUWLHGLUHFWH
,QVWDOODWLRQDYHFH[WHQVLRQSRXUSODQGHWUDYDLOH[WUDSURIRQGHWJDLQHHQ39&
²$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²$'SLqFHGHFRQQH[LRQSRXUJDLQHSODWH39&
²$'FRXGHJDLQHSODWHYHUWLFDO39&
,QVWDOODWLRQDYHFH[WHQVLRQSRXUSODQGHWUDYDLOH[WUDSURIRQGHWJDLQHHQPpWDO
²$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²$'SLqFHGHFRQQH[LRQJDLQHSODWHPpWDO
²$'FRXGHJDLQHSODWHYHUWLFDOPpWDO
$PP
%3LqFHGHFRQQH[LRQ
0HVXUHVHQPP
$SSDUHLOVG
DVSLUDWLRQ
%RQjVDYRLU %RQjVDYRLU
²,QVWDOODWLRQPXUDOHSURIRQGHXUGXSODQGHWUDYDLOFP ²,QVWDOODWLRQPXUDOHRXvORW
²3UpYRLUO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LUGDQVOHPHXEOHEDVSRXUOHXU ²3UpYRLUO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LUGDQVOHPHXEOHEDVSRXUOHXU
UHPSODFHPHQW UHPSODFHPHQW
'HSOXVVLODKDXWHXUGHODSOLQWKHHVWVXSpULHXUHjPPOHPRWHXUVpSDUpGRLW ²'LVWDQFHPLQLPDOHUHFRPPDQGpHHQWUHODSDURLGXPHXEOHHWOHVRXYHUWXUHVSRXU
rWUHVXUpOHYpSRXUSHUPHWWUHO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LU OHV=OWUHVORUVTXHODJULOOHQ·HVWSDVSODFpHGLUHFWHPHQWGHYDQWOHPRWHXUFP
6LODKDXWHXUGHODSOLQWKHHVWGHPPOHPRWHXUSHXWrWUHSODFpGLUHFWHPHQWDX ²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXZVDPPHQW
VRO G·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpPLQFPò
²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXZVDPPHQW
G·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpPLQFPò
/LVWHGHVDFFHVVRLUHV /LVWHGHVDFFHVVRLUHV
²[$5PRWHXUVpSDUpUHF\FODJH ²[$5PRWHXUVpSDUpUHF\FODJH
²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW ²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW
²[$'JDLQHSODWHFPPP
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH
²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXH
²[$'DGKpVLISRXUpWDQFKpL=HUOHVUDFFRUGVGHVJDLQHVSODWHV
$LQWpJUDWLRQFODVVLTXH $LQVWDOODWLRQFODVVLTXH
%LQWpJUDWLRQjIOHXUGHSODQXQLTXHPHQW9/ %LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/
&DFFqVDX[ILOWUHVSDUO
DYDQW3LqFHGHFRQQH[LRQSODWURQGYHUVO·DYDQW
PHVXUHVHQPP 'DFFqVDX[ILOWUHVSDUO
DUULqUH3LqFHGHFRQQH[LRQSODWURQGYHUVO·DUULqUH
PHVXUHVHQPP
&RQILJXUDWLRQVG·LQVWDOODWLRQUHFRPPDQGpHVSRXU9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH
/LVWHGHVDFFHVVRLUHV /LVWHGHVDFFHVVRLUHV
²[$5PRWHXUVpSDUppYDFXDWLRQH[WpULHXUH ²[$5PRWHXUVpSDUppYDFXDWLRQH[WpULHXUH
²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW ²[$'JDLQHSODWHYH[LEOHPpWDOPP
²[$'JDLQHSODWHFPPP ²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXHPpWDOPPSODWURQG
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH ²[$'DGKpVLISRXUpWDQFKpL=HUOHVUDFFRUGVGHVJDLQHVG·pYDFXDWLRQ
²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXH DOXPLQLXP
²6
HORQOHFKRL[GXPRWHXU[$5RX$5RX$5
PRWHXUVpSDUp²pYDFXDWLRQH[WpULHXUH
$LQVWDOODWLRQFODVVLTXH
%LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/
0HVXUHVHQPP
0RWHXUVpSDUpHQPRGH
pYDFXDWLRQH[WpULHXUH
$5
$5
$5
$LQVWDOODWLRQFODVVLTXH
%LQVWDOODWLRQjIOHXUGHSODQ
XQLTXHPHQW9/
&
0HVXUHVHQPP
$SSDUHLOVG
DVSLUDWLRQ
,QVWDOODWLRQHQvORWFRQQH[LRQODWpUDOHSDUOHF{WpGURLWRXF{WpJDXFKH %RQjVDYRLU
²3UpYRLUO·DFFHVVLELOLWpDX[ILOWUHVjFKDUERQ&OHDQ$LUGDQVOHPHXEOHEDVSRXU
/LVWHGHVDFFHVVRLUHV OHXUUHPSODFHPHQW
²[$5PRWHXUVpSDUppYDFXDWLRQH[WpULHXUH 'HSOXVVLODKDXWHXUGHODSOLQWKHHVWVXSpULHXUHjPPOHPRWHXUVpSDUpGRLW
²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW rWUHVXUpOHYpSRXUSHUPHWWUHO·DFFHVVLELOLWpDX[ILOWUHVjFKDUERQ&OHDQ$LU
²[$'JDLQHSODWHFPPP 6LODKDXWHXUGHODSOLQWKHHVWGHPPOHPRWHXUSHXWrWUHSODFpGLUHFWHPHQW
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH DXVRO
²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXH ²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXIILVDP
²[$'DGKpVLISRXUpWDQFKpL=HUOHVUDFFRUGVGHVJDLQHVG·pYDFXDWLRQ PHQWG·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpPLQFPò
²&HWWHFRQILJXUDWLRQHVWpJDOHPHQWUpDOLVDEOHDYHFOHVJDLQHVHQ39&
/LVWHGHVDFFHVVRLUHV
²[$5PRWHXUVpSDUpUHF\FODJH
²[$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²[$'SLqFHGHFRQQH[LRQJDLQHSODWHPpWDO
²[$'FRXGHJDLQHSODWHYHUWLFDOPpWDO
²[$'SLqFHGHFRQQH[LRQYH[LEOHSODW
²[$'DGKpVLISRXUpWDQFKpL=HUOHVUDFFRUGVGHVJDLQHVSODWHV
DOXPLQLXP
$LQVWDOODWLRQFODVVLTXH $LQVWDOODWLRQFODVVLTXH
%LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/ %LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/
&VRUWLHODWpUDOHF{WpJDXFKH3LqFHGHFRQQH[LRQSODWURQGYHUVO·DYDQW
'VRUWLHODWpUDOHF{WpGURLW3LqFHGHFRQQH[LRQSODWURQGYHUVO·DUULqUH 0HVXUHVHQPP
0HVXUHVHQPP
/LVWHGHVDFFHVVRLUHV39&
²[$5PRWHXUVpSDUpUHF\FODJH
²[$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH
²[$'FRXGHJDLQHSODWHYHUWLFDO39&
²[$'SLqFHGHFRQQH[LRQYH[LEOHSODW
9DULRDpUDWHXUGHSODQGHFXLVVRQ &DLVVRQVPRWHXUVFRUUHVSRQGDQWV /H9DULRJULOpOHFWULTXH95HW9DULR
6pULH YRLUSDJHV JD]ZRN9*GRLYHQWrWUHSODFpV
9/ HQWUH9/
(QFDVG
LQVWDOODWLRQG
XQ9DULRJULO
² &RPELQDEOHDYHFOHVDXWUHV pOHFWULTXH95OHPRGHUHF\FODJH
DSSDUHLOVGHFXLVVRQGHOD6pULH Q
HVWSDVUHFRPPDQGp
HQSDUIDLWHKDUPRQLH $5 /RUVGHO
LQVWDOODWLRQjF{WpG
XQ
² 6\VWqPHG
DVSLUDWLRQWUqVHIILFDFH DSSDUHLOGHFXLVVRQDXJD]LOHVW
LQWpJUpGDQVOHSODQGHWUDYDLO QpFHVVDLUHGHSUpYRLUOHGpIOHFWHXU
GLUHFWHPHQWDXQLYHDXGHODWDEHGH /6SRXUDVVXUHUOHPHLOOHXU
FXLVVRQ UHQGHPHQWGHODWDEOHGHFXLVVRQ
² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH (QFDVG
LQVWDOODWLRQGXGpIOHFWHXU
SDU6HQVRUDGDSWHODSXLVVDQFH /6LOHVWLPSRVVLEOHG
XWLOLVHU
9/ ࡱ G
DVSLUDWLRQDXYROXPHGHVYDSHXUV ODSRrOH:RN:3
%DQGHDXGH ࡱ+7 GHFXLVVRQ 6LOHFRQGXLWG
XQHKRWWHHQPRGH
FRPPDQGHQRLU ² 3ODQLILFDWLRQHWLQVWDOODWLRQIDFLOHV $5 G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
/DUJHXUFP ² $SSDUHLOVLOHQFLHX[QRWDPPHQW FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
(YDFXDWLRQH[WpULHXUHRXPRGH HQFRPELQDLVRQDYHFPRWHXU RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
UHF\FODJH $5 ODKRWWHGRLWrWUHSUpYXDYHFXQH
6DQVPRWHXU ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH IRQFWLRQGHVpFXULWpDGDSWpH
0HUFLGHFRQVXOWHUOHVGRQQpHV
$5
$FFHVVRLUHVG
LQVWDOODWLRQ 3HUIRUPDQFHV G
LQVWDOODWLRQ
$' ࡱ /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW
3LqFHGHFRQQH[LRQ ࡱ+7 GXFDLVVRQPRWHXUVpSDUpDVVRFLpYRLU &RQVHLOVSRXUGpFRXSHVGXSODQGH
IOH[LEOHSRXU9/ WDEOHDXSDJH WUDYDLOHQSDJHVHW
PPSODW
$' ࡱ &DUDFWpULVWLTXHV 9DOHXUVGHUDFFRUGHPHQW
3LqFHGHFRQQH[LRQ ࡱ+7 %RXWRQGHFRPPDQGHDYHFDQQHDX $5 &kEOHGHUDFFRUGHPHQWPHQWUH9/
SRXU9/SRXUH[WHQVLRQDYHFJDLQH OXPLQHX[ HWFDLVVRQPRWHXUVpSDUp
SODWHSRXUSODQGHWUDYDLOWUqV YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ
SURIRQG LQWHQVLYH
99 ࡱ )RQFWLRQ$XWRPDWLTXHDYHF
%DUUHWWHGHMRQFWLRQ ࡱ+7 WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU
HQLQR[SRXULQVWDOODWLRQGHSOXVLHXUV )LOWUHDQWLJUDLVVHPpWDOOLTXHDYHFXQ
9DULRGHFXLVVRQGHOD6pULH IRUWWDX[G
DEVRUSWLRQGHVJUDLVVHV
99 ࡱ )LOWUHDQWLJUDLVVHODYDEOHDXODYHYDLVVHOOH $5
%DUUHWWHGHMRQFWLRQ ࡱ+7 7pPRLQGHVDWXUDWLRQGHVILOWUHV
QRLUHSRXULQVWDOODWLRQGHSOXVLHXUV DQWLJUDLVVHHWFKDUERQDFWLI
9DULRGHFXLVVRQGHOD6pULH )OX[G
DLULQWpULHXURSWLPLVpSRXU
XQJXLGDJHGHODFLUFXODWLRQGHO
DLU
$FFHVVRLUHVHQRSWLRQ HIILFDFH
/6 ࡱ )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ
'pIOHFWHXUG
DLUSRXU ࡱ+7 *ULOOHGHYHQWLODWLRQpPDLOOpHODYDEOH
LQVWDOODWLRQ9/jF{Wp DXODYHYDLVVHOOH
G
DSSDUHLOVJD] &RXGHGHUDFFRUGHPHQWSRXU
,QR[ pYDFXDWLRQGHO
DLUOLYUpGHVpULH
=RQHHQFDVGHGpERUGHPHQWFDSDFLWp
&RPELQDEOHDYHF PO
9DULRGHFXLVVRQ6pULH
9, &RQVRPPDWLRQV
9, /HVYDOHXUVGHFRQVRPPDWLRQ
9, FRUUHVSRQGHQWjODFRQILJXUDWLRQ
9* DYHFOHPRWHXU$5
9* &ODVVHG
HIILFDFLWppQHUJpWLTXH$
9* VXUXQHpFKHOOHGH$j'
93 &RQVRPPDWLRQpQHUJpWLTXH
95 N:KDQ
&ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
&ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH%
1LYHDXVRQRUHPLQG%G%
SRVLWLRQQRUPDOH
&RQVHLOVG
LQVWDOODWLRQ
,OHVWUHFRPPDQGpG
LQVWDOOHUXQ
PRWHXUSDU9/
0RGHUHF\FODJHHQFRPELQDLVRQDYHF
FDLVVRQVPRWHXUVVpSDUpV$5
RX$5
/HPRGHUHF\FODJHQ
HVWSDV
UHFRPPDQGpHQFRPELQDLVRQDYHFXQ
9DULRJULOpOHFWULTXH
0RGHpYDFXDWLRQH[WpULHXUHHQ
FRPELQDLVRQDYHFFDLVVRQPRWHXU
VpSDUpV$5$5HW
$5
&RQILJXUDWLRQVUHFRPPDQGpHVSRXU
O
LQVWDOODWLRQGHVDpUDWHXUVGHSODQGH
WUDYDLODYHFOHFDLVVRQPRWHXUHWOHV
DFFHVVRLUHVGHUDFFRUGHPHQWDX[
SDJHVj
/DUJHXUPD[LPDOHGHODWDEOHGH
FXLVVRQHQWUH9/FP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
$'3LqFHGHFRQQH[LRQIOH[LEOHSRXU9/PPSODW
$'3LqFHGHFRQQH[LRQSRXU9/SRXUH[WHQVLRQ
DYHFJDLQHSODWHPPSRXUSODQGHWUDYDLOWUqVSURIRQG
&RQILJXUDWLRQVG·LQVWDOODWLRQUHFRPPDQGpHVSRXU9DULRDpUDWHXUGHSODQGHWUDYDLO6pULH
%RQjVDYRLU²SRXUXQHSODQL!FDWLRQHWXQHLQVWDOODWLRQFRUUHFWH
²3UHQGUHHQFRQVLGpUDWLRQODSURIRQGHXUGXPHXEOHHWODSURIRQGHXUGXSODQGHWUDYDLOVXSpULHXUHjFHOOHGXPHXEOH
²'LVWDQFHPD[LPDOHHQWUHOH9DULRDpUDWHXUHWOHFDLVVRQPRWHXUORQJXHXUGXFkEOHP
²8QHERQQHpWDQFKpLWpGHVJDLQHVHVWWUqVLPSRUWDQWHSRXUpYLWHUOHVIXLWHVG·DLUHOOHSHXWVHIDLUHjO·DLGHGHO·DGKpVLIDGDSWpRXHQXWLOLVDQWOHVSLqFHVGHFRQQH[LRQ
DGpTXDWHV
²/HV9DULRGHFXLVVRQWHOVTXH9DULR*ULOpOHFWULTXHRX9DULRJD]:RNGRLYHQWrWUHSODFpVHQWUH9/
²/HPRGHUHF\FODJHQ·HVWSDVUHFRPPDQGpGDQVOHFDVGHO·LQVWDOODWLRQG·XQ9DULR*ULOpOHFWULTXH
²/HUDFFRUGHPHQWGHODJDLQHDX9DULRDpUDWHXU9/HVWSRVVLEOHYHUVOHEDVRXODWpUDOHPHQWJUkFHDX[SLqFHVGHFRQQH[LRQFRPSOpPHQWDLUHVHW
&HOOHVFLVRQWOLYUDEOHVHQWDQWTX·DFFHVVRLUHVHQRSWLRQYRLUFLGHVVRXV
²3RXUOHVGLPHQVLRQVKRUVWRXWWRWDOHVGXPHXEOHLOIDXWSUHQGUHHQFRPSWHOHVGLPHQVLRQVLQGLYLGXHOOHVO·HPSODFHPHQWGHVJDLQHVHWGXPRWHXUVpSDUp
/HPRWHXUVpSDUpSHXWrWUHWRXUQpGDQVWRXWHVOHVGLUHFWLRQVHQIRQFWLRQGHODGLUHFWLRQVRXKDLWpHSRXUO·pYDFXDWLRQH[WpULHXUHGHO·DLURXSRXUOHUHWUDLWGHV=OWUHVjFKDUERQ
&OHDQ$LU
,QVWDOODWLRQVRUWLHGLUHFWH
,QVWDOODWLRQDYHFH[WHQVLRQSRXUSODQGHWUDYDLOH[WUDSURIRQGHWJDLQHHQ39&
²$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²$'SLqFHGHFRQQH[LRQSRXUJDLQHSODWH39&
²$'FRXGHJDLQHSODWHYHUWLFDO39&
,QVWDOODWLRQDYHFH[WHQVLRQSRXUSODQGHWUDYDLOH[WUDSURIRQGHWJDLQHHQPpWDO
²$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²$'SLqFHGHFRQQH[LRQJDLQHSODWHPpWDO
²$'FRXGHJDLQHSODWHYHUWLFDOPpWDO
$PP
%3LqFHGHFRQQH[LRQ
0HVXUHVHQPP
$SSDUHLOVG
DVSLUDWLRQ
&RQILJXUDWLRQG·LQVWDOODWLRQUHF\FODJH
9/DYHF$5PRWHXUVpSDUp²UHF\FODJH
,QVWDOODWLRQPXUDOHSURIRQGHXUGXSODQGHWUDYDLOFPDFFqVDX[ILOWUHVSRXUOH
UHPSODFHPHQWGHVILOWUHVjFKDUERQ&OHDQ$LUSDUO·DYDQW
%RQjVDYRLU
²3UpYRLUO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LUGDQVOHPHXEOHEDVSRXUOHXU
UHPSODFHPHQW
²'HSOXVVLODKDXWHXUGHODSOLQWKHHVWVXSpULHXUHjPPOHPRWHXUVpSDUpGRLW
rWUHVXUpOHYpSRXUSHUPHWWUHO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LU
6LODKDXWHXUGHODSOLQWKHHVWGHPPOHPRWHXUSHXWrWUHSODFpGLUHFWHPHQW
DXVRO
²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXZVDP
PHQWG·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpPLQFPò
/LVWHGHVDFFHVVRLUHV
²[$5PRWHXUVpSDUpUHF\FODJH
²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW
&RQILJXUDWLRQG·LQVWDOODWLRQUHF\FODJH &RQILJXUDWLRQG·LQVWDOODWLRQpYDFXDWLRQH[WpULHXUH
9/DYHF$5PRWHXUVpSDUp²UHF\FODJH 9/DYHF$5
%RQjVDYRLU
²,QVWDOODWLRQPXUDOHRXvORW
²3UpYRLUO·DFFHVVLELOLWpDX[=OWUHVjFKDUERQ&OHDQ$LUGDQVOHPHXEOHEDVSRXUOHXU
UHPSODFHPHQW
²'LVWDQFHPLQLPDOHUHFRPPDQGpHHQWUHODSDURLGXPHXEOHHWOHVRXYHUWXUHVSRXU
OHV=OWUHVORUVTXHODJULOOHQ·HVWSDVSODFpHGLUHFWHPHQWGHYDQWOHPRWHXUFP
²3RXUXQHSHUIRUPDQFHG·DVSLUDWLRQRSWLPDOHLOHVWQpFHVVDLUHG·DYRLUVXZVDPPHQW
G·HVSDFHSRXUO·pYDFXDWLRQGHO·DLUUHF\FOpPLQFPò
/LVWHGHVDFFHVVRLUHV /LVWHGHVDFFHVVRLUHV
²[$5PRWHXUVpSDUpUHF\FODJH ²[$5PRWHXUVpSDUppYDFXDWLRQH[WpULHXUH
²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW ²[$'SLqFHGHFRQQH[LRQYH[LEOHSRXU9/PPSODW
²[$'JDLQHSODWHFPPP ²[$'JDLQHSODWHFPPP
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH ²[$'SLqFHGHFRQQH[LRQJDLQHSODWH
²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXH ²[$'JDLQHSODWHDGDSWDWHXUF\OLQGULTXH
²[$'DGKpVLISRXUpWDQFKpL=HUOHVUDFFRUGVGHVJDLQHVSODWHV
$LQVWDOODWLRQFODVVLTXH $LQVWDOODWLRQFODVVLTXH
%LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/ %LQVWDOODWLRQjIOHXUGHSODQXQLTXHPHQW9/
&DFFqVDX[ILOWUHVSDUO·DYDQW3LqFHGHFRQQH[LRQSODWURQGYHUVO·DYDQW &pYDFXDWLRQH[WpULHXUHYHUVODJDXFKH3LqFHGHFRQQH[LRQSODWURQGYHUVO·DYDQW
'DFFqVDX[ILOWUHVSDUO·DUULqUH3LqFHGHFRQQH[LRQSODWURQGYHUVO·DUULqUH 'pYDFXDWLRQH[WpULHXUHYHUVODGURLWH3LqFHGHFRQQH[LRQSODWURQGYHUVO·DUULqUH
0HVXUHVHQPP 0HVXUHVHQPP
$SSDUHLOVG
DVSLUDWLRQ
/LVWHGHVDFFHVVRLUHV39&
²[$5PRWHXUVpSDUpUHF\FODJH
²[$'SLqFHGHFRQQH[LRQSRXUH[WHQVLRQ
²[$'SLqFHGHFRQQH[LRQJDLQHSODWH
²[$'FRXGHJDLQHSODWHYHUWLFDO39&
²[$'SLqFHGHFRQQH[LRQYH[LEOHSODW
+RWWHvORW6pULH &RPELQDEOHDYHF 0RGXOHGHUHF\FODJHDYHFILOWUHV
$, 7RXVOHV9DULRGHFXLVVRQ6pULH &OHDQ$LULQVWDOOpGDQVODFKHPLQpH
7RXVOHV9DULRGHFXLVVRQ6pULH LQWpULHXUH
² +RWWHSURIHVVLRQQHOOHDVVRFLpHj 7RXWHVOHVWDEOHVGHFXLVVRQ6pULH /HVFKHPLQpHVSRXUUHF\FODJHVRQW
XQGHVLJQFODVVLTXH*DJJHQDX 7RXWHVOHVWDEOHVGHFXLVVRQ6pULH SUpYXHVjFHWHIIHW
² 7UqVJUDQGHHIILFDFLWpG
DVSLUDWLRQ (QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
GHVYDSHXUVJUkFHjXQHJUDQGH %RQjVDYRLU PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
VXUIDFHG
DVSLUDWLRQ /DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
$, ࡱ ² 6DQVPRWHXUFRPELQDEOHDYHFOHV GHFXLVVRQ RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
,QR[ ࡱ+7 FDLVVRQVPRWHXU%/'&*DJJHQDX ODKRWWHGRLWrWUHSUpYXDYHFXQH
/DUJHXUFP ² )LOWUHVjFKLFDQHVLQFOLQpVDYHFXQ &DLVVRQVPRWHXUVFRUUHVSRQGDQWV IRQFWLRQGHVpFXULWpDGDSWpH
(YDFXDWLRQH[WpULHXUHRXPRGH IRUWWDX[G
DEVRUSWLRQGHVJUDLVVHV YRLUSDJHV
UHF\FODJH ² )RQFWLRQ$XWRPDWLTXHFRQWU{OpH 9DOHXUVGHUDFFRUGHPHQW
6DQVPRWHXU SDU6HQVRUDGDSWHODSXLVVDQFH 3XLVVDQFHWRWDOH:
/LYUpHVDQVFKHPLQpH G
DVSLUDWLRQDXYROXPHGHVYDSHXUV &kEOHGHUDFFRUGHPHQWPDYHF
$, ࡱ GHFXLVVRQ SULVH
,QR[ ࡱ+7 ² (FODLUDJH/('JUDQGDQJOHEODQF
/DUJHXUFP FKDXGDYHFYDULDWHXUG
LQWHQVLWp
$5
(YDFXDWLRQH[WpULHXUHRXPRGHUHF\FODJH SRXUXQpFODLUDJHRSWLPDOGXSODQ
6DQVPRWHXU GHFXLVVRQ
/LYUpHVDQVFKHPLQpH ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH
$, ࡱ ² 0RGXOHGHUHF\FODJHDYHFILOWUH
,QR[ ࡱ+7 &OHDQ$LUXQHVROXWLRQGH
/DUJHXUFP UHF\FODJHGHO
DLUVLOHQFLHXVHHWWUqV
(YDFXDWLRQH[WpULHXUHRXPRGHUHF\FODJH HIILFDFHFRPSDUDEOHjXQH
6DQVPRWHXU pYDFXDWLRQH[WpULHXUHHW
/LYUpHVDQVFKHPLQpH UHPSODFHPHQWPRLQVIUpTXHQWGX $5
ILOWUH
$FFHVVRLUHVG
LQVWDOODWLRQREOLJDWRLUHV
$' ࡱ 3HUIRUPDQFHV
&KHPLQpHLQR[SRXU ࡱ+7 /HVGRQQpHVGHSXLVVDQFHGpSHQGHQW
pYDFXDWLRQH[WpULHXUHNLWGHPRQWDJH GXPRWHXUVpSDUpDVVRFLp
LQFOXV
/RQJXHXUPP &DUDFWpULVWLTXHV
$' ࡱ EDQGHDX[GHFRPPDQGH $5
&KHPLQpHLQR[SRXU ࡱ+7 YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ
pYDFXDWLRQH[WpULHXUHNLWGHPRQWDJH LQWHQVLYH
LQFOXV )RQFWLRQ$XWRPDWLTXHDYHF
/RQJXHXUPP WHPSRULVDWLRQFRQWU{OpHSDU6HQVRU
$' ࡱ 7pPRLQGHVDWXUDWLRQGXILOWUHj
&KHPLQpHLQR[SRXU ࡱ+7 JUDLVVH
UHF\FODJHNLWGHPRQWDJHLQFOXV )LOWUHVjFKLFDQHVODYDEOHVDX
/RQJXHXUPP ODYHYDLVVHOOH
$' ࡱ (FODLUDJH/('JUDQGDQJOHEODQF
&KHPLQpHLQR[SRXU ࡱ+7 FKDXG.DYHFYDULDWHXU
UHF\FODJHNLWGHPRQWDJHLQFOXV G
LQWHQVLWpHQFRQWLQX
/RQJXHXUPP 3XLVVDQFHGHVDPSRXOHV[:
,QWHQVLWpOXPLQHXVHO[
$FFHVVRLUHVHQRSWLRQ
$$ ࡱ &RQVRPPDWLRQV
0RGXOHDGDSWDWHXUSRXU ࡱ+7 /HVYDOHXUVGHFRQVRPPDWLRQ
FRQWDFWHXUGHIHQrWUHFRPELQDEOHDYHF FRUUHVSRQGHQWjODFRQILJXUDWLRQ
PRWHXUVGHOD6pULHHW6pULH $,DYHFOHPRWHXU
* avec la cheminée pour recyclage AD 442 116 pour hauteur sol-plafond
$$ ࡱ $5 de 2,35 m à 2,60 m.
)LOWUHV&OHDQ$LUGH ࡱ+7 &ODVVHG
HIILFDFLWppQHUJpWLTXH% ** avec la cheminée pour recyclage AD 442 126 pour hauteur sol-plafond
UHPSODFHPHQWSRXUPRGXOHGHUHF\FODJH SRXUXQHFODVVLILFDWLRQGH$j' de 2,60 m à 3,10 m.
Ces mesures sont valables pour une installation à 1,60 m du sol à partir
$$ &RQVRPPDWLRQpQHUJpWLTXH du bord inférieur de la hotte.
$$ ࡱ N:KDQ
0RGXOHGHUHF\FODJH ࡱ+7 &ODVVHG
HIILFDFLWpGXPRWHXU$
DYHFILOWUHV&OHDQ$LUSRXUXQHIRUWH &ODVVHG
HIILFDFLWpG
pFODLUDJH%
UpGXFWLRQGHVRGHXUVJUkFHjXQHJUDQGH &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH%
VXUIDFHGHILOWUDWLRQ 1LYHDXVRQRUHPLQPD[G%
3RXUOHUHF\FODJHGHO
DLU G%SRVLWLRQQRUPDOH
&RPELQDEOHDYHFKRWWHvORWHWKRWWH
PXUDOH$,$: &RQVHLOVG
LQVWDOODWLRQ
5pGXFWLRQGHVRGHXUVFRPSDUDEOHDX /HVFDLVVRQVPRWHXUVpSDUpVSRXUOH
PRGHpYDFXDWLRQH[WpULHXUH UHF\FODJHRXO
pYDFXDWLRQH[WpULHXUH
5pGXFWLRQGXQLYHDXVRQRUHMXVTX
jG% VRQWUpSHUWRULpVSDJH
SDUUDSSRUWDXV\VWqPHFRQYHQWLRQQHOGH /DFKHPLQpHHQSDUWLHVLQFOXDQWOHNLW
ILOWUHVjFKDUERQHQPRGHUHF\FODJH GHPRQWDJHGRLWREOLJDWRLUHPHQWrWUH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH FRPPDQGpHHQDFFHVVRLUHG
LQVWDOODWLRQ
&OHDQ$LUHQYjDQVHORQIUpTXHQFH 5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
G
XWLOLVDWLRQ FkEOHUpVHDX
3RXULQVWDOODWLRQjO
LQWpULHXUGHOD 'LVWDQFHPLQLPDOHDXGHVVXVG
XQH
FKHPLQpH WDEOHJD]FP
&RPSUHQGXQVXSSRUWILOWUHILOWUHV 'LVWDQFHPLQLPDOHDXGHVVXVG
XQ
&OHDQ$LUXQWX\DXIOH[LEOHHWFROOLHUVGH DSSDUHLOGHFXLVVRQpOHFWULTXHFP
VHUUDJH (QPRGHUHF\FODJHFRPPDQGHU
* avec la cheminée pour évacuation extérieure AD 442 016 pour hauteur
$' ࡱ REOLJDWRLUHPHQWOHPRGXOHGH sol-plafond de 2,35 m à 2,60 m.
&ROOHUHWWHGHILQLWLRQ ࡱ+7 UHF\FODJH&OHDQ$LU ** avec la cheminée pour évacuation extérieure AD 442 026 pour hauteur
SRXUFKHPLQpH sol-plafond de 2,60 m à 3,10 m.
,QR[ Ces mesures sont valables pour une installation à 1,60 m du sol à partir
du bord inférieur de la hotte.
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQILJXUDWLRQVG
LQVWDOODWLRQUHFRPPDQGpHVSRXUKRWWHVvORWV6pULH $SSDUHLOVG
DVSLUDWLRQ
HWPRWHXUVVpSDUpV6pULH
&RQILJXUDWLRQG·LQVWDOODWLRQ
[$,DYHF$5
7X\DXURQGPP
%RQjVDYRLU
²3RXUXQJDLQGHSODFHOHPRWHXU$5VHSODFHGLUHFWHPHQWGDQVOD
FKHPLQpHGHODKRWWH$,
²
ORQJXHXUVGHFKHPLQpHVGLVSRQLEOHVVHORQODKDXWHXUVRO²SODIRQG
²/DGLVWDQFHPLQLPDOHDYHFXQHWDEOHGHFXLVVRQpOHFWULTXHHVWGHPPHWGH
PPSRXUXQHWDEOHJD]
²/
HNLWGHPRQWDJHQpFHVVDLUHjO·LQVWDOODWLRQHVWOLYUpDYHFODFKHPLQpH
²3RXUO·pYDFXDWLRQH[WpULHXUHFRPPHSRXUOHUHF\FODJHOHVDFFHVVRLUHV
G·LQVWDOODWLRQQpFHVVDLUHVVRQWUpSHUWRULpVGDQVOHVOLVWHVFLGHVVRXV
²/DKDXWHXUPLQLPDOHGHO
$,DXJPHQWHGHFPDYHFO
LQVWDOODWLRQGHOD
FROOHUHWWHGH=QLWLRQ
%RQjVDYRLU
/DKRWWHGRLWrWUHSOXVODUJHTXHOHSODQ
GHFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQILJXUDWLRQVG
LQVWDOODWLRQUHFRPPDQGpHVSRXUKRWWHV $SSDUHLOVG
DVSLUDWLRQ
PXUDOHV6pULHHWPRWHXUVVpSDUpV6pULH
&RQILJXUDWLRQG·LQVWDOODWLRQ
[$:DYHF$5
7X\DXURQGPP
%RQjVDYRLU
²3RXUXQJDLQGHSODFHOHPRWHXU$5VHSODFHGLUHFWHPHQWGDQVOD
FKHPLQpHGHODKRWWH$:
²ORQJXHXUVGHFKHPLQpHVGLVSRQLEOHVVHORQODKDXWHXUVRO²SODIRQG
²/DGLVWDQFHPLQLPDOHDYHFXQHWDEOHGHFXLVVRQpOHFWULTXHHVWGHPP
HWGHPPSRXUXQHWDEOHJD]
²3RXUO·pYDFXDWLRQH[WpULHXUHFRPPHSRXUOHUHF\FODJHOHVDFFHVVRLUHV
G·LQVWDOODWLRQQpFHVVDLUHVVRQWUpSHUWRULpVGDQVOHVOLVWHVFLGHVVRXV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
$$SSDUHLOXQLTXHPHQW
%$SSDUHLODYHFFDGUHDEDLVVDQW
0HVXUHVHQPP
&RXSHWUDQVYHUVDOHGXPHXEOHKDXWSRXU$)DYHF$$
HWFDGUHDEDLVVDQW$$
0HXEOHKDXWSRXU$)DYHFFDGUHDEDLVVDQW
*URXSHILOWUDQW6pULH $SSDUHLOODUJHXUFPFRPELQDEOH &RQVRPPDWLRQV
$& DYHF &ODVVHG
HIILFDFLWppQHUJpWLTXH
9DULRGHFXLVVRQ6pULH $VXUXQHpFKHOOHGH$j'
² ,QWpJUDWLRQLQYLVLEOHGDQVPHXEOH 9, &RQVRPPDWLRQpQHUJpWLTXH
KDXW 9, N:KDQ
² 0RWHXUVLOHQFLHX[HWpFRQRPHHQ 9, &ODVVHG
HIILFDFLWpG
DVSLUDWLRQ$
pQHUJLH 9* &ODVVHG
HIILFDFLWpG
pFODLUDJH$
² $VSLUDWLRQSpULSKpULTXHDYHF 9* &ODVVHG
HIILFDFLWpGXILOWUHDQWLJUDLVVH'
VXUIDFHHQYHUUHOLVVHIDFLOHj 93 1LYHDXVRQRUHPLQG%
$& ࡱ QHWWR\HU 95 PD[G%SRVLWLRQQRUPDOH
,QR[HWYHUUH ࡱ+7 ² (FODLUDJH/('EODQFQHXWUHDYHF
/DUJHXUFP YDULDWHXUG
LQWHQVLWpUpJODEOHSRXU 9DULRGHFXLVVRQ6pULH &RQVHLOVG
LQVWDOODWLRQ
(YDFXDWLRQHWUHF\FODJH XQpFODLUDJHRSWLPDOGXSODQGH 9, 0RGXOHGHUHF\FODJHEUHYHWpDYHF
$& ࡱ FXLVVRQ 9, ILOWUHjFKDUERQ&OHDQ$LUTXLSHXWrWUH
,QR[HWYHUUH ࡱ+7 ² (YDFXDWLRQH[WpULHXUHRXUHF\FODJH 9, LQVWDOOpGDQVO
DUPRLUHVXSpULHXUH
/DUJHXUFP ² &ODVVHG
HIILFDFLWppQHUJpWLTXH 9* /HUHPSODFHPHQWGXILOWUH&OHDQ$LUVH
(YDFXDWLRQHWUHF\FODJH $ 9* IDLWSDUO
DYDQWJUkFHjODVLPSOH
$& ࡱ 9* H[WUDFWLRQGXWLURLUjILOWUH
,QR[HWYHUUH ࡱ+7 3HUIRUPDQFHV /HUHPSODFHPHQWGXILOWUH&OHDQ$LU
/DUJHXUFP 3XLVVDQFHSRVLWLRQLQWHQVLYH 7DEOHVGHFXLVVRQ6pULH QpFHVVLWHO
RXYHUWXUHWRWDOHGHODSRUWH
(YDFXDWLRQHWUHF\FODJH 3XLVVDQFHG
DVSLUDWLRQPHVXUpHVHORQ &,[ GHO
DUPRLUHVXSpULHXUH
ODQRUPH(1 &,[ ,QWpJUDWLRQLQYLVLEOHSRVVLEOHGDQV
$FFHVVRLUHVHQRSWLRQ 3XLVVDQFHDFRXVWLTXHPHVXUpHVHORQ &( PHXEOHKDXW
$$ ࡱ (1 &* /HVSODQVGHFXLVVRQ9DULRSURGXLVDQW
7pOpFRPPDQGH ࡱ+7 5pGXFWLRQGHVRGHXUVHQUHF\FODJH EHDXFRXSGHYDSHXUFRPPHOHV95
SRXUJURXSHILOWUDQW$& VHORQ(1 %RQjVDYRLU 93GRLYHQWrWUHSODFpVDXFHQWUHVRXV
$$ ࡱ /DKRWWHSHXWrWUHDXVVLODUJHTXHOH ODKRWWH'DQVFHVFRQILJXUDWLRQVOH
ILOWUH&OHDQ$LUGH ࡱ+7 /DUJHXUGHVDSSDUHLOVFP SODQGHFXLVVRQ PRGHUHF\FODJHQ
HVWSDVUHFRPPDQGp
UHPSODFHPHQWSRXUXQHIRUWH 3XLVVDQFHHQpYDFXDWLRQ 'LVWDQFHPLQLPDOHDXGHVVXVG
XQH
UpGXFWLRQGHVRGHXUVJUkFHjXQH PóK $SSDUHLOODUJHXUFPFRPELQDEOH WDEOHJD]FPPLQLPXPFPVL
LPSRUWDQWHVXUIDFHGHILOWUDWLRQ G%$UHS: DYHF SXLVVDQFHWRWDOHGXJD]VXSpULHXUHj
3RXUPRGXOHGHUHF\FODJH 3XLVVDQFHHQUHF\FODJH 9DULRGHFXLVVRQ6pULH N:
$$ PóK 9, 'LVWDQFHPLQLPDOHDXGHVVXVG
XQ
$$ ࡱ G%$UHS: 9, DSSDUHLOGHFXLVVRQpOHFWULTXHFP
0RGXOHGHUHF\FODJH ࡱ+7 5pGXFWLRQGHVRGHXUVHQUHF\FODJH 9* 6LOHFRQGXLWG
XQHKRWWHHQPRGH
&RPSUHQGILOWUHjFKDUERQDFWLI GH 9* G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
&OHDQ$LUSRXUXQHIRUWHUpGXFWLRQGHV 93 FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
RGHXUVJUkFHjXQHLPSRUWDQWHVXUIDFH /DUJHXUGHVDSSDUHLOVFP 95 RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
GHILOWUDWLRQ 3XLVVDQFHHQpYDFXDWLRQ ODKRWWHGRLWrWUHSUpYXDYHFXQH
PóK 9DULRGHFXLVVRQ6pULH IRQFWLRQGHVpFXULWpDGDSWpH
$SSDUHLOODUJHXUFPFRPELQDEOH G%$UHS: 9,
DYHF 3XLVVDQFHHQUHF\FODJH 9, 9DOHXUVGHUDFFRUGHPHQW
9DULRGHFXLVVRQ6pULH PóK 9* 3XLVVDQFHWRWDOH:
9, G%$UHS: 9* &kEOHPDYHFSULVH
9, G%$UH˄3D 9*
9, 5pGXFWLRQGHVRGHXUVHQUHF\FODJH
9, GH 7DEOHVGHFXLVVRQ6pULH
9, &,[
9* /DUJHXUGHVDSSDUHLOVFP &(
9* 3XLVVDQFHHQpYDFXDWLRQ &*
9* PóK
93 G%$UHS: %RQjVDYRLU
95 3XLVVDQFHHQUHF\FODJH /DKRWWHSHXWrWUHDXVVLODUJHTXHOH
PóK SODQGHFXLVVRQ
9DULRGHFXLVVRQ6pULH G%$UHS:
9, 5pGXFWLRQGHVRGHXUVHQUHF\FODJH
9, GH
9,
9* &DUDFWpULVWLTXHV
9* YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ
9* LQWHQVLYH
7pOpFRPPDQGHGLVSRQLEOHHQ
7DEOHVGHFXLVVRQ6pULH DFFHVVRLUHHQRSWLRQ
&; )RQFWLRQ$VSLUDWLRQLQWHUPLWWHQWHPLQ
&; )RQFWLRQ7HPSRULVDWLRQPLQ
&* 7pPRLQGHVDWXUDWLRQGXILOWUHjJUDLVVH
)LOWUHDQWLJUDLVVHPpWDOOLTXHODYDEOHDX
7DEOHVGHFXLVVRQ6pULH ODYHYDLVVHOOH
&,[ )LOWUHUHFRXYHUWG
XQHSODTXHHQYHUUH
&,[ (FODLUDJH/('EODQFQHXWUH.
&,[ DYHFYDULDWHXUG
LQWHQVLWpUpJODEOH
&,[ 3XLVVDQFHGHVDPSRXOHV[:
&( ,QWHQVLWpOXPLQHXVHO[
&( 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH
&* PRWHXU%/'&
&*
9*
%RQjVDYRLU
/DKRWWHSHXWrWUHDXVVLODUJHTXHOH
SODQGHFXLVVRQ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
9XHGHGHVVXVPHXEOHKDXWDYHF$&HW$$
/HEXWG·XQHERQQHSODQL=FDWLRQGHYHQWLODWLRQHVWG·pYDFXHUOHSOXVYLWHHWOHSOXV /HVIDFWHXUVLPSRUWDQWVTXLLQ=XHQWVXUODSXLVVDQFHG·DVSLUDWLRQ
FRPSOqWHPHQWSRVVLEOHOHVYDSHXUVHWIXPpHVGHODFXLVLQH3RXUYRXVDLGHUjpYDOXHU
DXPLHX[OHVEHVRLQVGHO·LQVWDOODWLRQFLGHVVRXVTXHOTXHVSUpFLHX[FRQVHLOVGH ²/HVPRWHXUVOHVDSSDUHLOVG·DVSLUDWLRQ*DJJHQDXVRQWpTXLSpVGHPRWHXUV
SODQL=FDWLRQGHODSDUWGHQRVH[SHUWVHQYHQWLODWLRQ SDUWLFXOLqUHPHQWSXLVVDQWVRXSHXYHQWrWUHFRPELQpVDYHFGHSXLVVDQWVFDLVVRQV
PRWHXUVVpSDUpVHQPRGHpYDFXDWLRQH[WpULHXUHRXHQPRGHUHF\FODJH&HV
/DSODQL=FDWLRQG·XQHYHQWLODWLRQHVWGpWHUPLQpHHQJUDQGHSDUWLHSDUO·DSSRUWG·DLUHW FDLVVRQVPRWHXUVRQWSDUDLOOHXUVXQHSUHVVLRQVWDEOH,OVFRPSHQVHQWG·pYHQWXHOOHV
ODVRUWLHG·DLU/HEHVRLQHQDSSRUWG·DLUHVWGpWHUPLQpSDUODSXLVVDQFHG·DVSLUDWLRQGH SHUWHVGHSUHVVLRQGXHVDXUDFFRUGHPHQWGHVWX\DX[HWVRQWpJDOHPHQWWUqV
ODKRWWHHQWHQDQWFRPSWHGHWRXVOHVDFFHVVRLUHVQpFHVVDLUHV HZFDFHVPrPHjIDLEOHQLYHDXVRQRUH
²5DFFRUGHPHQWGHVWX\DX[HWLQVWDOODWLRQSRXUDWWHLQGUHXQUpVXOWDWRSWLPDOLOIDXW
%HVRLQHQDSSRUWG·DLU YHLOOHUjUHVSHFWHUOHVFRQVLJQHVFLGHVVRXV
/DSXLVVDQFHG·DVSLUDWLRQGXV\VWqPHFRPSOHWGHYHQWLODWLRQGRLWFRUUHVSRQGUHDX /DGLVWDQFHPLQLPDOHGHVFRXGHVGRLWVHVLWXHUjDXPRLQVFPGHODVRUWLHG·DLU
EHVRLQG·DSSRUWG·DLU&RPPHEDVHGHSODQL=FDWLRQVRQWVRXYHQWSULVHQFRPSWHOD (YLWH]OHVUpWUpFLVVHPHQWVGHVHFWLRQ
WDLOOHGHODFXLVLQHDLQVLTXHOHWDX[GHUHQRXYHOOHPHQWGHO·DLUFRUUHVSRQGDQWDX 3RXUOHVFRXGHVXWLOLVHUVLSRVVLEOHGHVFRXGHVOHSOXVODUJHSRVVLEOH
YROXPHGHODSLqFH1RXVQHSUHQRQVHQFRPSWHFHWWHPDQLqUHGHFDOFXOHUTXHSRXU 1·XWLOLVH]TXHGHVWX\DX[DYHFXQHVXUIDFHLQWpULHXUHOLVVHHWGHPrPHQLYHDX
OHVLQVWDOODWLRQVVLWXpHVjSOXVG·PDXGHVVXVGXSODQGHFXLVVRQF
HVWjGLUH 8WLOLVH]GHVWX\DX[G·XQGLDPqWUHPLQLPXPGHPP
GDQVOHFDVGHVKRWWHVGHSODIRQG )DLWHVOHUDFFRUGHPHQWOHSOXVGLUHFWSRVVLEOH
,QVWDOOHUGHVFDLVVRQVWpOHVFRSLTXHVPXUDX[DYHFGHJUDQGHVODPHOOHVXQHJULOOH
²(QPRGHpYDFXDWLRQH[WpULHXUHOHEHVRLQG·DSSRUWG·DLUSRXUOHWDX[GH H[WpULHXUHHWDYHFXQHIDLEOHFRQWUHSUHVVLRQ
UHQRXYHOOHPHQWG·DLUHVWFDOFXOpDYHFXQIDFWHXU 9HLOOH]jDYRLUXQDSSRUWG·DLUVXZVDQW
²3RXUXQHFRQ=JXUDWLRQDYHFGHVDSSDUHLOVVSpFLDX[WHOVTXH*ULO7HSSDQ<DNLRX
:RNLOIDXWFRPSWHUDYHFXQIDFWHXU
²(QPRGHUHF\FODJHOHEHVRLQG·DSSRUWG·DLUHVWWRXMRXUVFDOFXOpDYHFXQIDFWHXU
6LODGLVWDQFHHQWUHOHSODQGHFXLVVRQHWO·DVSLUDWLRQHVWLQIpULHXUHjPLOIDXW
UHVSHFWHUOHVFRQVLJQHVVXLYDQWHVSRXUJDUDQWLUXQHHZFDFLWpG·DVSLUDWLRQPD[LPDOH
GHVIXPpHVORUVGHOHXUDVFHQVLRQ
²/DWDLOOHHWO·DUFKLWHFWXUHGHODFXLVLQHSOXVODSLqFHHVWJUDQGHSOXVOHV
WXUEXOHQFHVGHO·DLUGDQVODSLqFHVRQWLPSRUWDQWHVHWOHEHVRLQHQDSSRUWG·DLU
DXJPHQWH
²/HVDSSDUHLOVGHFXLVVRQOHFKRL[GHVDSSDUHLOVGHFXLVVRQHVWOHIDFWHXU
GpWHUPLQDQW&KDTXHDSSDUHLOGHFXLVVRQJpQqUHXQHTXDQWLWpGHYDSHXUHWGH
IXPpHVGLWpUHQWH3OXVO·DSSDUHLOGHFXLVVRQHVWODUJHSOXVJUDQGHGHYUDrWUHOD
SXLVVDQFHGHODYHQWLODWLRQ
/DYHQWLODWLRQGRLWDEVROXPHQWFRQVHUYHUXQHUpVHUYHGHSXLVVDQFHVXZVDQWHHQ
FDVG·LQVWDOODWLRQG·DSSDUHLOVWHOVTXH7HSSDQ<DNL:RNRX*ULOFDUFHVDSSDUHLOV
JpQqUHQWXQYROXPHGHIXPpHVSOXVLPSRUWDQW1RXVFRQVHLOORQVpJDOHPHQW
G·LQVWDOOHUFHVDSSDUHLOVVSpFLDX[DXPLOLHXGHODFRQ=JXUDWLRQHWQRQSDVDX[
H[WUpPLWpV
²/HVPRGHVGHYHQWLODWLRQFKDTXHPRGHGHYHQWLODWLRQDGHVFDUDFWpULVWLTXHV
SURSUHVTXLLQYXHQWVXUOHEHVRLQHQDSSRUWG·DLU/HVYHQWLODWLRQVWHOOHVTXHOD
KRWWHGHSODQGHWUDYDLORXOHVDpUDWHXUVGHSODQGHWUDYDLOVHFDUDFWpULVHQWSDUXQH
DVSLUDWLRQGLUHFWHPHQWDXQLYHDXGXSODQGHFXLVVRQ&HFLPLQLPLVHO·pFKDSSHPHQW
GHVIXPpHVGDQVODSLqFHSHQGDQWOHXUDVFHQVLRQ/DSXLVVDQFHGHYHQWLODWLRQ
QpFHVVDLUHHVWGDQVFHFDVLQIpULHXUHjWRXVOHVDXWUHVW\SHVG·DVSLUDWLRQTXLVRQW
VLWXpVjFPRXSOXVDXGHVVXVGHODWDEOHGHFXLVVRQ
²/HPRGHGHIRQFWLRQQHPHQWOHVDSSDUHLOVG·DVSLUDWLRQ*DJJHQDXSHXYHQWrWUH
XWLOLVpVDXVVLELHQHQPRGHpYDFXDWLRQH[WpULHXUHTX·HQPRGHUHF\FODJH(QPRGH
UHF\FODJHLOIDXWQRWHUTXHO·XWLOLVDWLRQG·XQ=OWUHjFKDUERQDFWLIUpGXLWODSXLVVDQFH
G·DVSLUDWLRQGHO·DSSDUHLOSDUUDSSRUWDXPRGHpYDFXDWLRQH[WpULHXUH3OXVODVXUIDFH
GX=OWUHjFKDUERQDFWLIHVWpWHQGXHSOXVO·HZFDFLWpG·DVSLUDWLRQHWOHQLYHDXVRQRUH
VHUDSSURFKHQWGXPRGHpYDFXDWLRQ(QPRGHpYDFXDWLRQODSXLVVDQFHG·DVSLUDWLRQ
UpHOOHGpSHQGDXVVLELHQGHODSXLVVDQFHGXPRWHXUTXHGXUDFFRUGHPHQWGHV
WX\DX[
$SSDUHLOVG
DVSLUDWLRQ
/HVV\VWqPHVPRGXODLUHVGHYHQWLODWLRQDYHFFDLVVRQVPRWHXUV
VpSDUpVGHOD6pULHHWGHOD6pULH
$& $&
$&
$&
$,$: $5 $5 $5
/HVFDLVVRQVPRWHXUVVpSDUpVGHOD6pULHVRQWUHOLpVDX[KRWWHVVDQVPRWHXUGHOD6pULHHWDX9DULRDpUDWHXU6pULHSDUXQFkEOHUpVHDX
8QUDFFRUGHPHQWGHGHX[FDLVVRQVPRWHXUVVpSDUpVHVWSRVVLEOHSDUH[GDQVOHFDVGHOD+RWWHGHSODIRQGSXLVTXHOHVGHX[FDLVVRQVPRWHXUVVRQWFRQQHFWpVO·XQjO·DXWUHYLD
XQFkEOHUpVHDX
$XWUHVSRVVLELOLWpVGHFRQWU{OHGHODSXLVVDQFH
/HFDLVVRQPRWHXUGLVSRVHG
XQHFRPPXWDWLRQVXSSOpPHQWDLUHFRQWDFWVDQVSRWHQWLHOTXLSHUPHWGHFRQQHFWHUG
DXWUHVDSSDUHLOVFRPPHXQV\VWqPHGHYHQWLODWLRQGpMjH[LVWDQW
/HFRQFHSWHXUGHO·HQVHPEOHGXV\VWqPHGHYHQWLODWLRQHVWUHVSRQVDEOHGHO·HZFDFLWpGHO·LQVWDOODWLRQ
/HIRQFWLRQQHPHQWpOHFWULTXHHVWJDUDQWLWDQWTXHOHVVSpFL=FDWLRQVVRQWUHVSHFWpHV
&DLVVRQPRWHXU6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFGHVDSSDUHLOVG
DVSLUDWLRQ
VDQVPRWHXUGHOD6pULH
² 7HFKQRORJLH%/'&HIILFDFH
3HUIRUPDQFHV
3XLVVDQFHSRVLWLRQLQWHQVLI
'pELWG
DLUVHORQQRUPH(1
$5 ࡱ 1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
&DUURVVDJHPpWDO ࡱ+7 VHORQW\SHG
LQVWDOODWLRQ
3XLVVDQFHG
DVSLUDWLRQPD[PóK
(YDFXDWLRQH[WpULHXUH (YDFXDWLRQH[WpULHXUH
,QVWDOODWLRQLQWpULHXUH PóK
$FFHVVRLUHHQRSWLRQ &DUDFWpULVWLTXHV
$$ ࡱ SXLVVDQFHVG
DVSLUDWLRQFRQWU{OpHV
0RGXOHDGDSWDWHXU ࡱ+7 pOHFWURQLTXHPHQWHWSRVLWLRQ
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH LQWHQVLYH
DYHFPRWHXUVGHOD6pULH 7HFKQRORJLHG
DVSLUDWLRQDYHFXQ
HW6pULH PRWHXU%/'&WUqVHIILFDFH
&DUURVVDJHPpWDOSODTXp]LQF
5DFFRUGHPHQWHQWUpHG
DLU
[PPF\OLQGULTXH[PP
F\OLQGULTXH
5DFFRUGHPHQWVRUWLHG
DLU
[PPF\OLQGULTXH
&DFKHSRXUIHUPHWXUHGHVHQWUpHV
G
DLU
6XSSRUWGHIL[DWLRQDXSODIRQGRXVXU
XQHSDURLGHPHXEOHLQFOXV
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUHQFRPELQDLVRQDYHF
DSSDUHLOVG
DVSLUDWLRQVDQVPRWHXUGH
OD6pULHHW6pULH
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
,QVWDOODWLRQSRVVLEOHGDQVOHVRFOHDYHF
GpFRXSHGDQVODSOLQWKHGXPHXEOH
SRXUpYDFXDWLRQGHO
DLU
/
LQVWDOODWLRQGDQVXQHSLqFHVpSDUpH
SHUPHWXQHUpGXFWLRQGXQLYHDXVRQRUH
GDQVODFXLVLQH
(QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
ODKRWWHGRLWrWUHSUpYXDYHFXQH
IRQFWLRQGHVpFXULWpDGDSWpH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
&kEOHUpVHDXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
&DLVVRQPRWHXU6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFGHVDSSDUHLOVG
DVSLUDWLRQ
VDQVPRWHXUGHOD6pULH
² 7HFKQRORJLH%/'&HIILFDFH
² ,QVWDOODWLRQFRPSDFWHEHVRLQGH
SHXG
HVSDFHSRXUrWUHSODFpGDQV
ODFKHPLQpHGH$,$:
3HUIRUPDQFHV
3XLVVDQFHSRVLWLRQLQWHQVLI
'pELWG
DLUVHORQQRUPH(1
$5 ࡱ 1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
&DUURVVDJHPpWDO ࡱ+7 VHORQW\SHG
LQVWDOODWLRQ
3XLVVDQFHG
DVSLUDWLRQPD[PóK
(YDFXDWLRQH[WpULHXUHRXPRGH (YDFXDWLRQH[WpULHXUH
UHF\FODJH PóK
,QVWDOODWLRQGDQVFKHPLQpHGHKRWWH
$,$: &DUDFWpULVWLTXHV
SXLVVDQFHVG
DVSLUDWLRQFRQWU{OpHV
$FFHVVRLUHHQRSWLRQ pOHFWURQLTXHPHQWHWSRVLWLRQ
$$ ࡱ LQWHQVLYH
0RGXOHDGDSWDWHXU ࡱ+7 7HFKQRORJLHG
DVSLUDWLRQDYHFXQ
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH PRWHXU%/'&WUqVHIILFDFH
DYHFPRWHXUVGHOD6pULH ,VRODWLRQSKRQLTXHLQFOXVHSRXUXQH
HW6pULH UpGXFWLRQGXQLYHDXVRQRUH
&DUURVVDJHPpWDOSODTXp]LQF
5DFFRUGHPHQWVRUWLHG
DLU
[PPF\OLQGULTXH
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUXQLTXHPHQW
FRPSDWLEOHDYHFKRWWHVVDQVPRWHXU
$,$:
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
,QVWDOODWLRQGXFDLVVRQPRWHXUGDQVOD
FKHPLQpHGH$,$:
(QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
ODKRWWHGRLWrWUHSUpYXDYHFXQH
IRQFWLRQGHVpFXULWpDGDSWpH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWHWFkEOH
UpVHDXOLYUpVGHVpULH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&DLVVRQPRWHXU6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFGHVDSSDUHLOVG
DVSLUDWLRQ
VDQVPRWHXUGHOD6pULH
² 7HFKQRORJLH%/'&HIILFDFH
3HUIRUPDQFHV
3XLVVDQFHSRVLWLRQLQWHQVLI
'pELWG
DLUVHORQQRUPH(1
1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
VHORQW\SHG
LQVWDOODWLRQ
$5 ࡱ (YDFXDWLRQH[WpULHXUH
,QR[ ࡱ+7 PóK
3XLVVDQFHG
DVSLUDWLRQPD[PóK
(YDFXDWLRQH[WpULHXUH &DUDFWpULVWLTXHV
0RQWDJHH[WpULHXUVXUPXU SXLVVDQFHVG
DVSLUDWLRQFRQWU{OpHV
pOHFWURQLTXHPHQWHWSRVLWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ LQWHQVLYH
$' ࡱ 7HFKQRORJLHG
DVSLUDWLRQDYHFXQ
7X\DXWpOHVFRSLTXHGH ࡱ+7 PRWHXU%/'&WUqVHIILFDFH
WUDYHUVpHPXUDOHPPURQG ,VRODWLRQSKRQLTXHLQFOXVHSRXUXQH
UpGXFWLRQGXQLYHDXVRQRUH
$FFHVVRLUHHQRSWLRQ &DLVVRQHQLQR[
$$ ࡱ 5DFFRUGHPHQWHQWUpHG
DLU
0RGXOHDGDSWDWHXU ࡱ+7 [PPURQG
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH 6XSSRUWGHIL[DWLRQSRXULQVWDOODWLRQ
DYHFPRWHXUVGHOD6pULH VXUPXUH[WpULHXULQFOXV
HW6pULH
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUHQFRPELQDLVRQDYHF
DSSDUHLOVG
DVSLUDWLRQVDQVPRWHXUGH
OD6pULHHW6pULH
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
/
LQVWDOODWLRQjO
H[WpULHXUSHUPHWXQH
UpGXFWLRQGXQLYHDXVRQRUHGDQVOD
FXLVLQH
,QVWDOODWLRQVXUXQPXUH[WpULHXU
/HERvWLHUpOHFWURQLTXHGRLW
REOLJDWRLUHPHQWrWUHLQVWDOOpj
O
LQWpULHXUGHO
KDELWDWLRQ
3ODJHGHWHPSpUDWXUHDXWRULVpHSRXU
O
LQVWDOODWLRQGXERvWLHUpOHFWURQLTXH
j&
'LVWDQFHPLQLPDOHHQWUHVROHWFHQWUH
GXWX\DXFP
(QFDVG
LQVWDOODWLRQG
XQHKRWWHHQ
PRGHpYDFXDWLRQH[WpULHXUHUHOLpHDX
FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
ODKRWWHGRLWrWUHSUpYXDYHFXQH
IRQFWLRQGHVpFXULWpDGDSWpH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
&kEOHUpVHDXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
&DLVVRQPRWHXU6pULHHW6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFGHVDSSDUHLOVG
DVSLUDWLRQ
VDQVPRWHXUGHOD6pULHHW
6pULH
² 7HFKQRORJLH%/'&HIILFDFH
² ,QVWDOODWLRQFRPSDFWHGDQVXQVRFOH
$5 ࡱ GHKDXWHXUFP
&DUURVVDJHPpWDO ࡱ+7
3XLVVDQFHG
DVSLUDWLRQPD[PóK 3HUIRUPDQFHV
(YDFXDWLRQH[WpULHXUH 3XLVVDQFHSRVLWLRQLQWHQVLI
,QVWDOODWLRQGDQVOHVRFOH 'pELWG
DLUVHORQQRUPH(1
1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
$FFHVVRLUHHQRSWLRQ VHORQW\SHG
LQVWDOODWLRQ
$$ ࡱ
0RGXOHDGDSWDWHXU ࡱ+7 (YDFXDWLRQH[WpULHXUHPóK
SRXUFRQWDFWHXUGHIHQrWUHFRPELQDEOH
DYHFPRWHXUVGHOD6pULH &DUDFWpULVWLTXHV
HW6pULH SXLVVDQFHVG
DVSLUDWLRQFRQWU{OpHV
pOHFWURQLTXHPHQWHWSRVLWLRQ
LQWHQVLYH
7HFKQRORJLHG
DVSLUDWLRQDYHFXQ
PRWHXU%/'&WUqVHIILFDFH
&DUURVVDJHPpWDOSODTXp]LQF
5DFFRUGHPHQWHQWUpHG
DLU
[PPURQG
5DFFRUGHPHQWVRUWLHG
DLU
[PPJDLQHSODWH
6XSSRUWGHIL[DWLRQDXSODIRQGRXVXU
XQHSDURLGHPHXEOHLQFOXV
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUHQFRPELQDLVRQDYHF
DSSDUHLOVG
DVSLUDWLRQVDQVPRWHXUGH
OD6pULHHW6pULH
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
5DFFRUGHPHQWDYHFOD$/DYHFOH
FROOHFWHXUG
DLU$'
$'
,QVWDOODWLRQSRVVLEOHGDQVOHVRFOHDYHF
GpFRXSHGDQVODSOLQWKHGXPHXEOH
SRXUO
pYDFXDWLRQGHO
DLU
6LOHFRQGXLWG
XQHKRWWHHQPRGH
G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX
FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH
RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGH
ODKRWWHGRLWrWUHSUpYXDYHFXQH
IRQFWLRQGHVpFXULWpDGDSWpH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWP
DYHFSULVH
&kEOHUpVHDXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&DLVVRQPRWHXU6pULHHW6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFOHVYDULRDpUDWHXUVGHSODQGH
FXLVVRQGHV6pULHHW6pULH
² 7HFKQRORJLH%/'&HIILFDFH
² 7UqVVLOHQFLHX[JUkFHjXQH
LVRODWLRQSKRQLTXHEUHYHWpH
² ,QVWDOODWLRQFRPSDFWHSHX
HQFRPEUDQWHGDQVOHPHXEOH
3HUIRUPDQFHV
$5 ࡱ 3XLVVDQFHSRVLWLRQLQWHQVLI
&DUURVVDJHPpWDO ࡱ+7 'pELWG
DLUVHORQQRUPH',1
5HF\FODJH 1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
3XLVVDQFHPD[PóK VHORQW\SHG
LQVWDOODWLRQ
,QVWDOODWLRQGDQVXQPHXEOH 3XLVVDQFHHQUHF\FODJH
PóK
$FFHVVRLUHVHQRSWLRQ 1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
$$ ࡱ VHORQW\SHG
LQVWDOODWLRQ
*ULOOHGHYHQWLODWLRQ ࡱ+7
HQDFLHULQR[\GDEOHFP &DUDFWpULVWLTXHV
FRPSUHQDQWOHVUDFFRUGVG
LQVWDOODWLRQ YLWHVVHVpOHFWURQLTXHVHWSRVLWLRQ
KDXWHXUDMXVWDEOH LQWHQVLYH
$$ ࡱ 7HFKQRORJLHG
DVSLUDWLRQWUqVHIILFDFH
ILOWUHVjFKDUERQ ࡱ+7 PRWHXU%/'&
DFWLI&OHDQ$LU ,VRODWLRQSKRQLTXHLQFOXVHSRXUXQH
&RPELQDEOHDYHFPRWHXU$5 UpGXFWLRQGXQLYHDXVRQRUH
$$ ࡱ &DUURVVDJHPpWDOSODTXp]LQF
ILOWUHVjFKDUERQ ࡱ+7 5DFFRUGHPHQWHQWUpHG
DLU
DFWLISRXYDQWrWUHUpJpQpUpV [PPUDFFRUGSODW
&RPELQDEOHDYHFPRWHXU$5 /LYUpDYHFpTXHUUHVGHIL[DWLRQSRXU
XQHLQVWDOODWLRQGDQVODSDUWLHEDVVHGX
PHXEOH
ILOWUHVjFKDUERQDFWLI&OHDQ$LUOLYUpV
GHVpULH
/HILOWUHHVWDGDSWpjODSUpSDUDWLRQGH
SRLVVRQVHWIUXLWVGHPHUJUkFHjXQ
WUDLWHPHQWVSpFLDO
,QWHUYDOOHGHUHPSODFHPHQWGXILOWUHj
FKDUERQDFWLIDQVHORQIUpTXHQFH
G
XWLOLVDWLRQ
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUHQFRPELQDLVRQDYHF
YDULRDpUDWHXUVGHSODQGHFXLVVRQ
VDQVPRWHXUGHOD6pULHHW
6pULH
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ
FkEOHUpVHDX
,QVWDOODWLRQFRPSDFWHJDLQGHSODFH
GDQVOHPHXEOHEDVSRXUXQH
FRPELQDLVRQDYHF9DULRDpUDWHXUGH
SODQGHFXLVVRQ
,QVWDOODWLRQGDQVOHPHXEOHEDVDYHF
SRVVLELOLWpGHGpFRXSHGXSODQFKHUGX
PHXEOHRXjO
DUULqUHGXPHXEOHVLOH
PRWHXUHVWSRVpGLUHFWHPHQWDXVRO
,OIDXWjJDUGHUXQHDFFHVVLELOLWp
DXPRWHXUSRXUSHUPHWWUHOH
UHPSODFHPHQWGHVILOWUHV
/HUHPSODFHPHQWGHVILOWUHVjFKDUERQ
DFWLI&OHDQ$LUHVWSRVVLEOHGHVF{WpV
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWP
DYHFSULVH
&kEOHUpVHDXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVG
DVSLUDWLRQ
&DLVVRQPRWHXU6pULHHW6pULH
$5
² 0RWHXUSXLVVDQWSRXUFRPELQDLVRQ
DYHFGHVDSSDUHLOVG
DVSLUDWLRQ
VDQVPRWHXUGHOD6pULHHW
6pULH
² 7HFKQRORJLH%/'&HIILFDFH
² ,QVWDOODWLRQFRPSDFWHGDQVXQVRFOH
$5 ࡱ GHKDXWHXUFP
&DUURVVDJHPpWDO ࡱ+7
3XLVVDQFHPD[PóK 3HUIRUPDQFHV
5HF\FODJH 3XLVVDQFHSRVLWLRQLQWHQVLI
,QVWDOODWLRQGDQVOHVRFOH 'pELWG
DLUVHORQQRUPH(1
1LYHDXVRQRUHHWSUHVVLRQDFRXVWLTXH
$FFHVVRLUHVG
LQVWDOODWLRQ VHORQW\SHG
LQVWDOODWLRQ
$$ ࡱ
*ULOOHGHYHQWLODWLRQ ࡱ+7 3XLVVDQFHHQUHF\FODJH
SRXULQVWDOODWLRQHQUHF\FODJH PóK
,QR[FPLQFOXVOHVpOpPHQWVGH
IL[DWLRQUpJODEOHHQKDXWHXU &DUDFWpULVWLTXHV
SXLVVDQFHVG
DVSLUDWLRQFRQWU{OpHV 9XHGXGHVVXV
$FFHVVRLUHVHQRSWLRQ pOHFWURQLTXHPHQWHWSRVLWLRQ
$$ ࡱ LQWHQVLYH
ILOWUHVjFKDUERQ ࡱ+7 7HFKQRORJLHG
DVSLUDWLRQDYHFXQ
DFWLI&OHDQ$LUSRXUFDLVVRQPRWHXU PRWHXU%/'&WUqVHIILFDFH
GDQVVRFOH$5 &DUURVVDJHPpWDOSODTXp]LQF
5DFFRUGHPHQWHQWUpHG
DLU
[PPURQG
6XSSRUWGHIL[DWLRQDXSODIRQGRXVXU
XQHSDURLGHPHXEOHLQFOXV
ILOWUHVjFKDUERQDFWLIOLYUpVGHVpULH
/HILOWUHjFKDUERQ&OHDQ$LUHVWDGDSWp
jODSUpSDUDWLRQGHSRLVVRQVHWIUXLWV
GHPHUJUkFHjXQWUDLWHPHQWVSpFLDO
,QWHUYDOOOHGHUHPSODFHPHQWGXILOWUHj
FKDUERQ&OHDQ$LUDQVHORQOD
IUpTXHQFHG
XWLOLVDWLRQ
&RQVHLOVG
LQVWDOODWLRQ
&DLVVRQPRWHXUHQFRPELQDLVRQDYHF
DSSDUHLOVG
DVSLUDWLRQVDQVPRWHXUGH
OD6pULHHW6pULH
5DFFRUGHPHQWGHO
DSSDUHLOYLDXQ $FFqVOLEUHSRXU
FkEOHUpVHDX FKDQJHPHQWGXILOWUH
jFKDUERQ
,QVWDOODWLRQSRVVLEOHGDQVOHVRFOHDYHF
GpFRXSHGDQVODSOLQWKHGXPHXEOH
SRXUO
pYDFXDWLRQGHO
DLU
'pODLGHUHQRXYHOOHPHQWGXILOWUHj
FKDUERQDFWLI&OHDQ$LUWRXVOHVj
DQVHQIRQFWLRQGHODIUpTXHQFH
G
XWLOLVDWLRQ
,OHVWLPSpUDWLIGHSRXYRLUUHWLUHUOD
SOLQWKHSRXUOHUHPSODFHPHQWGHV
ILOWUHV
(QO
DEVHQFHGHJULOOHGHYHQWLODWLRQ
SODFpHGLUHFWHPHQWGHYDQWOHV
RXYHUWXUHVGHVILOWUHVLOHVW
UHFRPPDQGpGHODLVVHUXQHVSDFH
PLQLPXPGHFP
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHWRWDOH:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
&kEOHUpVHDXP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
0RGXOHGHUHF\FODJHDYHFILOWUH
&OHDQ$LU
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
3RXUOHUHF\FODJHGHO·DLU ࡱ+7
&RPELQDEOHDYHFOHVKRWWHVvORWVHW
PXUDOHV$,$:
5pGXFWLRQGHVRGHXUVFRPSDUDEOHDX
PRGHpYDFXDWLRQH[WpULHXUH
5pGXFWLRQGXQLYHDXVRQRUHMXVTX·jG%
SDUUDSSRUWDXV\VWqPHFRQYHQWLRQQHOGH
ILOWUHVjFKDUERQHQPRGHUHF\FODJH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH
&OHDQ$LUHQYIRLVSDUDQVHORQ
IUpTXHQFHG·XWLOLVDWLRQ
3RXULQVWDOODWLRQjO·LQWpULHXUGHODFKHPLQpH
&RPSUHQGXQVXSSRUWGHILOWUHILOWUHV
&OHDQ$LUXQWX\DXIOH[LEOHHWFROOLHUVGH
VHUUDJH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
3RXUOHUHF\FODJHGHO·DLU ࡱ+7
&RPELQDEOHDYHFOHVKRWWHVGpFRUDWLYHV
PXUDOHV$:
5pGXFWLRQGHVRGHXUVFRPSDUDEOH
DXPRGHpYDFXDWLRQH[WpULHXUH
5pGXFWLRQGXQLYHDXVRQRUHMXVTX·jG%
SDUUDSSRUWDXV\VWqPHFRQYHQWLRQQHOGH
ILOWUHVjFKDUERQHQPRGHUHF\FODJH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH
&OHDQ$LU
3RXULQVWDOODWLRQVXUFKHPLQpH
H[WpULHXUHRXFKHPLQpHLQWpULHXUH
/HPRGXOHVHFRPSRVHGXSDQQHDX
GHVLJQGHODIL[DWLRQPXUDOHGXILOWUH
&OHDQ$LUGXWX\DXIOH[LEOHHWFROOLHUV
GHVHUUDJH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
3RXUOHUHF\FODJHGHO·DLU ࡱ+7
&RPELQDEOHDYHFOHVKRWWHVGpFRUDWLYHV
vORWV$,
5pGXFWLRQGHVRGHXUVFRPSDUDEOHDX
PRGHpYDFXDWLRQH[WpULHXUH
5pGXFWLRQGXQLYHDXVRQRUHMXVTX·jG%
SDUUDSSRUWDXV\VWqPHFRQYHQWLRQQHOGH
ILOWUHVjFKDUERQHQPRGHUHF\FODJH
5HPSODFHPHQWPRLQVIUpTXHQWGXILOWUH
&OHDQ$LU
3RXULQVWDOODWLRQVXUFKHPLQpHLQWpULHXUH
/HPRGXOHVHFRPSRVHGXSDQQHDX
GHVLJQGHODIL[DWLRQPXUDOHGXILOWUH
&OHDQ$LUGXWX\DXIOH[LEOHHWFROOLHUV
GHVHUUDJH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
0RGXOHGHUHF\FODJH ࡱ+7
&OHDQ$LUEUHYHWpFRPSUHQDQW=OWUH
&OHDQ$LUSRXUXQHIRUWHUpGXFWLRQGHV
RGHXUVJUkFHjXQHLPSRUWDQWHVXUIDFH
GH=OWUDWLRQ
&RQVHLOVG·LQVWDOODWLRQ
3RXUOHUHF\FODJHGHO
DLU
$FRPELQHUDYHFOHVKRWWHVWLURLU
6pULHJURXSHVILOWUDQWV6pULH
5pGXFWLRQGHVRGHXUVFRPSDUDEOH
DXPRGHpYDFXDWLRQH[WpULHXUH
5pGXFWLRQGXQLYHDXVRQRUHMXVTX
jG%
SDUUDSSRUWDXV\VWqPHFRQYHQWLRQQHOGH
ILOWUHVjFKDUERQHQPRGHUHF\FODJH
'XUpHGHYLHSOXVORQJXHGXILOWUH&OHDQ$LU
3RXUXQHLQVWDOODWLRQGDQVO
DUPRLUH
VXSpULHXUH
&RPSUHQGOHVXSSRUWGHILOWUHDYHF
FRXYHUFOHGHVLJQILOWUH&OHDQ$LU
WX\DXIOH[LEOHHWFROOLHUVGHVHUUDJH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
0RGXOHGHUHF\FODJH ࡱ+7
,QR[
$$ ࡱ
0RGXOHGHUHF\FODJH ࡱ+7
%ODQF
&RQVHLOVG
LQVWDOODWLRQ
3RXUOHUHF\FODJHGHO
DLU
&RPELQDEOHDYHFOHVKRWWHVGHSODIRQG
$&HW$&
5pGXFWLRQGHVRGHXUVFRPSDUDEOHDX
PRGHpYDFXDWLRQ
/HPRGXOHVHFRPSRVHGXSDQQHDX
GHVLJQGHODIL[DWLRQPXUDOHGXILOWUHj
FKDUERQDFWLI&OHDQ$LUGXWX\DXIOH[LEOH
HWGHFROOLHUVGHVHUUDJH
5DFFRUGF\OLQGULTXH¡PP
'LVWDQFHPLQLPDOHUHFRPPDQGpHHQWUH
OHVRXYHUWXUHVODWpUDOHVSRXUOHVILOWUHV
HWOHPXUFP
$'SRXU$:
$'SRXU$,
$'SRXU$:
$'SRXU$,
&ROOHUHWWHGHILQLWLRQSRXUFKHPLQpHV
GHKRWWHV
,QR[
5HFRXYUHOHVYLVGHIL[DWLRQGHVKRWWHV
PXUDOHVRXvORWVDLQVLTXHO·HVSDFH
pYHQWXHOVLOHSODIRQGQ·HVWSDVWRWDOH
PHQWGHQLYHDX
3HUPHWOHPRQWDJHGHFKHPLQpHV
PXUDOHVRXvORWVVXUPHVXUHHQXQH
VHXOHSLqFHQRQWpOHVFRSLTXH
(TXLSHPHQW
)L[DWLRQVDXSODIRQGSRXUFKHPLQpH
HWFROOHUHWWHFOLSVDEOHGDQVOHPrPH
FRORULVTXHODFKHPLQpH
&RQVHLOVG·LQVWDOODWLRQ
'LVSRQLEOHVGDQVSUHVTXHWRXWHVOHV
YHUVLRQVGHFKHPLQpHVGHKRWWH
*DJJHQDXSRXUXQHILQLWLRQSDUIDLWHGH
O·LQVWDOODWLRQGHVFKHPLQpHVVWDQGDUG
'pFRQVHLOOpHHQFDVG
LQVWDOODWLRQG
XQ
PRGXOHGHUHF\FODJH$$
$$
5pIpUHQFHV5pIpUHQFHVRQOLQH
337 251
$' ࡱ 277
5DOORQJHSRXUNLW ࡱ+7
GHPRQWDJHSRXUKRWWHvORW$, 249
3RXUXQHKDXWHXUGHFKHPLQpHGH 191 min. 290-
²PP max. 500*
/DKDXWHXUWRWDOHGpSHQGGHODOLJQH
HVWKpWLTXH
* hauteur ajustable
par paliers de 10 mm
Mesures en mm
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
&DGUHDEDLVVDQW ࡱ+7
SRXUKRWWHWLURLUFP
$$ ࡱ
&DGUHDEDLVVDQW ࡱ+7
SRXUKRWWHWLURLUFP
&RQVHLOVG·LQVWDOODWLRQ
$FRPELQHUDYHFOHVKRWWHVWLURLU
6pULH
/HFDGUHDEDLVVDQWEUHYHWpSHUPHW
GHGLVVLPXOHUHQWLqUHPHQWODKRWWH
WLURLUGDQVO
DUPRLUHVXSpULHXUH
0RQWDJHGLUHFWHPHQWVXUOHPXUGH
ODFXLVLQHRXXQHDUPRLUHVXSpULHXUH
UHQIRUFpH
3RXUPRQWDJHGDQVXQHDUPRLUH
VXSpULHXUH
/DSURIRQGHXUQpFHVVDLUHGHO
DUPRLUH
VXSpULHXUHSRXUO
LQVWDOODWLRQGXFDGUH
DEDLVVDQWHVWGHPP
(QFDVG
LQVWDOODWLRQG
XQHFUpGHQFH
PXUDOH!PPLOIDXWFRPEOHUO
HVSDFH
DXQLYHDXGXFDGUHDEDLVVDQWHWDMXVWHU
ODSURIRQGHXUGXPHXEOHKDXW
/
LQVWDOODWLRQGXFDGUHDEDLVVDQW
QpFHVVLWHO
XWLOLVDWLRQG
XQWX\DXIOH[LEOH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
.LWGHPRQWDJH ࡱ+7
SRXUDUPRLUHVXSpULHXUHGHFP
&RQVHLOVG·LQVWDOODWLRQ
&RPELQDEOHDYHFOHVKRWWHVWLURLU
6pULHODUJHXUFP
0RQWDJHGURLWHJDXFKHGDQVDUPRLUH
VXSpULHXUH
3RXUPRQWDJHGDQVXQHDUPRLUH
VXSpULHXUH
&RPELQDEOHDYHFOHVKRWWHVWLURLUGHOD
6pULHLQVWDOOpHVGDQVXQPHXEOH
KDXWGHODUJHXUFP
/HNLWGHPRQWDJHQ
HVWSDVQpFHVVDLUH
HQFDVG
LQVWDOODWLRQGXFDGUHDEDLVVDQW
$$
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
.LWSRXULQVWDOODWLRQ ࡱ+7
$/HW$/GHIDoRQ
FODVVLTXHVXUOHSODQGHWUDYDLO
&RPSUHQGSLqFHVjSODFHUjFKDTXH
H[WUpPLWpGHODKRWWH
SDUWLHYLVLEOHHQDOXPLQLXPDQRGLVp
QRLUHWSODTXHGHIL[DWLRQVRXVOH
SURILOpDOXPLQLXPGHODKRWWH$/
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
.LWSRXULQVWDOODWLRQ ࡱ+7
GXPRWHXUjGLVWDQFHGLVWDQFHPD[L
PDOHP
&RPELQDEOHDYHFODKRWWHGHSODQGH
WUDYDLO$/
5pIpUHQFHV5pIpUHQFHVRQOLQH
9$ ࡱ
&RPELQDEOH ࡱ+7
DYHFKRWWHGHSODQGHWUDYDLO
$/
9$ ࡱ
&RPELQDEOH ࡱ+7
DYHFKRWWHGHSODQGHWUDYDLO
$/
.LWG
LQVWDOODWLRQSRXUXQHLQVWDOODWLRQ
GDQVXQHVHXOHGpFRXSHGHSODQGH
WUDYDLO
&RPSRVpG
XQHEDUUHWWHGHMRQFWLRQ
HWGHEDUUHVGHUHQIRUWSRXUDVVXUHUOD
VWDELOLWpGXPHXEOHEDV
&RPSDWLEOHDYHFGHVPHXEOHVGH
ODUJHXUFPFPRXFP
5pIpUHQFHV5pIpUHQFHVRQOLQH
&$ ࡱ
%RXWRQPDJQpWLTXH ࡱ+7
7ZLVW3DGQRLU
3RXUWDEOHV)OH[,QGXFWLRQ6pULH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
0RGXOHDGDSWDWHXU ࡱ+7
SRXUPRWHXUV6pULH
/RQJXHXUP
&RQVHLOVG·LQVWDOODWLRQ
&RPELQDEOHDYHFOHVDSSDUHLOV $$VHUDFFRUGHHQWUHODOLJQHGH
G
DVSLUDWLRQVDQVPRWHXUGHOD6pULH FRQWU{OHGXFRQWDFWHXUHWODFRQQH[LRQ
6LOHFRQGXLWG
XQHKRWWHHQPRGH GHO
DSSDUHLOG
DVSLUDWLRQ'DQVOHFDV
G
pYDFXDWLRQH[WpULHXUHHVWUHOLpDX G
XQHFRQQH[LRQGHFRQWDFWHXUGHIHQrWUH
FRQGXLWG
pYDFXDWLRQG
XQHFKHPLQpH O
DSSDUHLOG
DVSLUDWLRQIRQFWLRQQH
RXG
XQSRrOHOHFLUFXLWpOHFWULTXHGHOD XQLTXHPHQWORUVTXHODIHQrWUHHVW
KRWWHGRLWrWUHSUpYXDYHFXQHIRQFWLRQGH RXYHUWH/
pFODLUDJHIRQFWLRQQHpJDOHPHQW
VpFXULWpDGDSWpH&HPRGXOHDGDSWDWHXU ORUVTXHODIHQrWUHHVWIHUPpH/HUDFFRU
FRQYLHQWSRXUOHVFRQWDFWHXUVGHIHQrWUH GHPHQWG
XQFRQWDFWHXUGHIHQrWUHSHXW
/HVDSSDUHLOVG
DVSLUDWLRQGHOD6pULH XQLTXHPHQWrWUHUpDOLVpSDUXQpOHFWULFLHQ
FRPSRUWHQWXQHFRQQH[LRQSRXUXQ TXDOLILpDYHFODSULVHHQFRQVLGpUDWLRQGHV
FRQWDFWHXUGHIHQrWUH/HPRGXOH UqJOHVHWQRUPHVQDWLRQDOHV
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
7pOpFRPPDQGH ࡱ+7
SRXUJURXSHILOWUDQW$&
6RUWLHPXUDOH
3RXUXQSDVVDJHSURSUHHIILFDFHHW
GLVFUHWGHVWX\DX[jWUDYHUVOHPXU
H[WpULHXULOH[LVWHGLIIpUHQWHVVROXWLRQV
GHVRUWLHVPXUDOHV
/HSHUoDJHGRLWWRXMRXUVFRUUHVSRQGUH
RXrWUHVXSpULHXUDXGLDPqWUHQRPLQDO
GXWX\DX
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
ø 200
&DFKHVRUWLHPXUDOH ࡱ+7
Perçage ø 210
,QR[
PPURQG
3HUWHGHSXLVVDQFHPLQLPHJUkFHDX[
JUDQGHVODPHOOHVHQLQR[
(TXLSHPHQW
/DPHOOHVHQLQR[ULJLGHVUpVLVWDQWHV
DX[LQWHPSpULHV
&ODSHWDQWLUHWRXULQFRUSRUp
5DFFRUGHPHQWF\OLQGULTXHPP
&RQVHLOVG·LQVWDOODWLRQ
(QFRPELQDLVRQDYHFO·DFFHVVRLUH
$'SRXUODWUDYHUVpHPXUDOH
3HUoDJHGXPXUPP
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&DFKHVRUWLHPXUDOH ࡱ+7
,QR[
PPJDLQHSODWH
3HUWHGHSXLVVDQFHPLQLPHJUkFHDX[
JUDQGHVODPHOOHVHQLQR[
'LPHQVLRQVUpGXLWHVHWFRPSDFWHV
5DFFRUGHPHQWJDLQHSODWHPP
(TXLSHPHQW
/DPHOOHVHQLQR[ULJLGHVUpVLVWDQWHV
DX[LQWHPSpULHV
&ODSHWDQWLUHWRXULQFRUSRUp
&RQVHLOVG·LQVWDOODWLRQ
5DFFRUGHPHQWGLUHFWGHODJDLQHSODWH
PPVDQVSLqFHGHFRQQH[LRQ
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
7X\DXWpOHVFRSLTXH ࡱ+7
GHWUDYHUVpHPXUDOH ø 200
300-500
,QR[
PPURQG
(TXLSHPHQW
5DFFRUGHPHQWF\OLQGULTXHPP
&ODSHWDQWLUHWRXULQFRUSRUp
&RQVHLOVG·LQVWDOODWLRQ
(QFRPELQDLVRQDYHFOHFDFKHVRUWLH ø 210
PXUDOH$'RXOHPRWHXU
Silicone
VpSDUp$5
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
6RUWLHPXUDOH ࡱ+7
DYHFFDLVVRQWpOHVFRSLTXH
,QR[39&
PPURQG
,VRODWLRQRSWLPDOHSRXUpYLWHUOD
GpSHUGLWLRQGHFKDOHXU
+HUPpWLTXHPHQWpWDQFKHJUkFHj
O
LQWpJUDWLRQG
XQV\VWqPHRSWLPLVp
GHUHWHQXHGHODFKDOHXU
3HXG
LPSDFWYLVXHODXQLYHDXGHOD
IDoDGHH[WpULHXUHJUkFHDXFRXYHUFOH
GHUHFRXYUHPHQWSODWHQLQR[
&DUDFWpULVWLTXHV
0HVXUHVHQPP
/DPHOOHVULJLGHVHQLQR[UpVLVWDQWHV
DX[LQWHPSpULHV
6\VWqPHG
LVRODWLRQFRXFKHVSRXU
pYLWHUOHUHWRXUG
DLU
2XYHUWXUHHWIHUPHWXUHPDJQpWLTXH
/DGpILQLWLRQGHODSUHVVLRQG
RXYHUWXUH
3DpYLWHOHEUXLWGHFOLTXHWLV
2XYHUWXUHWRWDOHPrPHHQFDVGH
IDLEOHYROXPHG
DLU
&RQGXLWPXUDOWpOHVFRSLTXHPP
SRXUUDFFRUGHPHQWWX\DXURQG
PP
&RQVHLOVG
LQVWDOODWLRQ
&RUUHVSRQGDX[H[LJHQFHVGHVWHVWV
%ORZHUGRRU
3RXUUDFFRUGHPHQWDYHFJDLQHV
F\OLQGULTXHVPPRXJDLQHV
SODWHVPP
3HUoDJHGXPXUPP
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
*ULOOHGHYHQWLODWLRQ ࡱ+7
SRXULQVWDOODWLRQHQUHF\FODJHFRXOHXU
LQR[FPLQFOXDQWOHVpOpPHQWVGH
IL[DWLRQKDXWHXUDMXVWDEOH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
/HVPHLOOHXUHVSHUIRUPDQFHVJUkFHjXQUDFFRUGHPHQWHWXQHLQVWDOODWLRQRSWLPDOH
8QFKRL[HWXQHLQVWDOODWLRQLQWHOOLJHQWHGXUDFFRUGHPHQWQ·LQIOXHQWSDVVHXOHPHQWSRVLWLYHPHQWVXUODSXLVVDQFHGHO·DVSLUDWLRQPDLVPLQLPLVHpJDOHPHQWOHQLYHDXVRQRUH
(OOHHVWGpWHUPLQDQWHSRXUO·HIILFDFLWpGXV\VWqPHG·DVSLUDWLRQ
/HW\SHGHUDFFRUGHPHQW
3RXUOHFKRL[GXUDFFRUGHPHQWDSSURSULpHQGLDPqWUHPP*DJJHQDXSURSRVHGHX[W\SHVGHWX\DX[$OXIOH[HWF\OLQGULTXHVDLQVLTX·XQV\VWqPHGHJDLQHVSODWHV3RXUXQH
SXLVVDQFHPD[LPDOHHWXQQLYHDXVRQRUHPLQLPDOOHGLDPqWUHGXWX\DXG·pYDFXDWLRQGRLWrWUHOHSOXVJUDQGSRVVLEOH
3RXUXQHORQJXHXUUHFWLOLJQHGXWX\DXQRXVSUpFRQLVRQVO·XWLOLVDWLRQGH39&RXGHWX\DXHQPpWDODYHFXQHVXUIDFHLQWpULHXUHOLVVHHWUpJXOLqUH(OOHSHUPHWXQHpYDFXDWLRQGHO·DLU
VDQVWXUEXOHQFHV3RXUGHVORQJXHXUVQRQUHFWLOLJQHVHWDYHFGHVFRXGHVLOHVWFRQVHLOOpG·XWLOLVHUOHVWX\DX[$OXIOH[TXLSHUPHWWHQWG·pYLWHUOHVDUrWHVWUDQFKDQWHV
3RXUGHVLQVWDOODWLRQVGDQVGHVHVSDFHVUpGXLWVOHFKRL[GHYUDVHSRUWHUVXUOHV\VWqPHG·pYDFXDWLRQGHJDLQHVSODWHV*DJJHQDX&HWWHFRQFHSWLRQVSpFLDOHDYHFGHVODPHOOHVGH
JXLGDJHLQFRUSRUpHVGDQVOHVFRXGHVHWSLqFHVGHFRQQH[LRQSHUPHWWHQWXQHKDXWHXUWUqVUpGXLWHSRXUXQJUDQGGLDPqWUHHWGRQFXQHJUDQGHHIILFDFLWpG·pYDFXDWLRQGHO·DLU&HFLHVW
pJDOHPHQWYDODEOHSRXUXQSOXVJUDQGQRPEUHGHFRXGHV1RXVGpFRQVHLOORQVIRUWHPHQWO·XWLOLVDWLRQG·DXWUHVW\SHVGHJDLQHVSODWHVjFDXVHGHODJUDQGHSHUWHGHSXLVVDQFHGDQVOHV
FRXGHVOHVFRLQVHWOHVSLqFHVGHFRQQH[LRQ
/HVWX\DX[HQVSLUDOHHWpWLUDEOHVVRQWjSURVFULUH,OVSURFXUHQWOHVSOXVPDXYDLVGpELWVG·DLUHWXQIRUWQLYHDXVRQRUHGXIDLWGHVYLEUDWLRQVGHVJDLQHV
/HGLDPqWUHGXWX\DX
5qJOHGHEDVHOHGLDPqWUHGRLWrWUHOHSOXVJUDQGSRVVLEOHHWOHPrPHVXUWRXWHODORQJXHXUGXWX\DXOHWUDMHWGXWX\DXGRLWrWUHUHFWLOLJQHHWOHSOXVFRXUWSRVVLEOH
/DVRUWLHPXUDOHGRLWFRUUHVSRQGUHDXGLDPqWUHGXWX\DXG·pYDFXDWLRQ
/HVQRUPHVGHFRQVWUXFWLRQ
9HLOOHUjUHVSHFWHUOHVQRUPHVGHFRQVWUXFWLRQFRQFHUQDQWOHVVROXWLRQVGHYHQWLODWLRQHQYLJXHXUGDQVOHSD\VG
LQVWDOODWLRQ
/HVJDLQHVHQ39&VRQWFRQIRUPHVDX1HHGOH)ODPH7HVWVHORQ,(&jODFODVVHG
LQIODPPDELOLWp9VHORQ8/HWjODFODVVH%GHVPDWpULDX[GHFRQVWUXFWLRQ
VHORQ',1
/HVJDLQHVHQPpWDOVRQWSDUWLFXOLqUHPHQWUHFRPPDQGpHVSRXUOHVFRQILJXUDWLRQVG
LQVWDOODWLRQGHV9DULRDpUDWHXUGHSODQHWGHV+RWWHVGHSODQGHWUDYDLOSRXUOHVSD\VTXLLPSRVHQW
GHVQRUPHVGHSURWHFWLRQLQFHQGLHpOHYpHV
/HVJDLQHVHWDFFHVVRLUHVHQPpWDOQHVRQWSDVLQIODPPDEOHVHWVRQWGRQFSDUWLFXOLqUHPHQWUHFRPPDQGpVSRXUWRXWHVOHVFRQILJXUDWLRQVG
LQVWDOODWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
*DLQHG·pYDFXDWLRQSODWH ࡱ+7 *DLQHG
pYDFXDWLRQSODWH ࡱ+7
39&IDLEOHLQYDPPDELOLWp 0pWDO
PPSODW PPSODW
/RQJXHXUPP /RQJXHXUPP
$' ࡱ
*DLQHG·pYDFXDWLRQSODWH ࡱ+7 &RQVHLOVG·LQVWDOODWLRQ
39&IDLEOHLQYDPPDELOLWp $GDSWpSRXUOHVJDLQHVG
pYDFXDWLRQ
PPSODW SODWHV
/RQJXHXUPP 3RXUUDFFRUGHUJDLQHVG
pYDFXDWLRQ
SODWHVXQUDFFRUGJDLQHSODWHHVW
QpFHVVDLUH
/HMRLQWHVWSUpPRQWpjFKDTXH
H[WUpPLWp
6
LOIDXWUHWLUHUOHMRLQWOHUDFFRUGHPHQW
GRLWrWUHIL[pHWpWDQFKpLILpDYHFOH
URXOHDXG
DGKpVLIDOXPLQLXP
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
$' ࡱ 5DFFRUGJDLQHSODWH ࡱ+7
5DFFRUGJDLQHSODWH ࡱ+7 0pWDO
39&IDLEOHLQYDPPDELOLWp PPSODW
PPSODW 3RXUODFRQQH[LRQGHJDLQHV
3LqFHGHFRQQH[LRQSRXUUDFFRUGHU G
pYDFXDWLRQSODWHV
HQVHPEOHGHVJDLQHVSODWHV39&
&RQVHLOVG·LQVWDOODWLRQ
$GDSWpSRXUJDLQHVG
pYDFXDWLRQ
&RQVHLOVG·LQVWDOODWLRQ SODWHVRXJDLQHVG
pYDFXDWLRQSODWHV
-RLQWVLQWpJUpVSHUPHWWDQWXQH IOH[LEOHV
SDUIDLWHpWDQFKpLWpjO
DLUVDQV
QpFHVVLWpG
XWLOLVHUGHO
DGKpVLI
&RQQH[LRQIDFLOHHWUDSLGHJUkFH
DXV\VWqPHjFOLSVHU
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
&RXGHJDLQHSODWH ࡱ+7 &RXGHJDLQHSODWH ࡱ+7
YHUWLFDO YHUWLFDO
39&IDLEOHLQYDPPDELOLWp 0pWDO
PPSODW PPSODW
&RQVHLOVG·LQVWDOODWLRQ
$GDSWpSRXUJDLQHSODWHG
pYDFXDWLRQ
RXJDLQHSODWHIOH[LEOH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
&RXGHJDLQHSODWH ࡱ+7 &RXGHJDLQHSODWH ࡱ+7
KRUL]RQWDO KRUL]RQWDO
39&IDLEOHLQYDPPDELOLWp 0pWDO
PPSODW PPSODW
&RQVHLOVG·LQVWDOODWLRQ
$GDSWpSRXUJDLQHSODWHG
pYDFXDWLRQ
RXJDLQHSODWHIOH[LEOH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7
SRXUUDFFRUGHUFRXGHVJDLQHSODWH
0pWDO
PPSODW
&RQVHLOVG·LQVWDOODWLRQ
6
LOIDXWUHWLUHUOHMRLQWOHUDFFRUGHPHQW
GRLWrWUHIL[pHWpWDQFKpLILpDYHFOH
URXOHDXG
DGKpVLIDOXPLQLXP
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
7X\DXYH[LEOH ࡱ+7 *DLQHSODWHYH[LEOH ࡱ+7
SRXUJDLQHSODWH 0pWDO
39&IDLEOHLQYDPPDELOLWp PPSODW
PP /RQJXHXUPP
/RQJXHXUPP
&RQVHLOVG·LQVWDOODWLRQ
&RQVHLOVG·LQVWDOODWLRQ $GDSWpSRXUOHVJDLQHVG
pYDFXDWLRQ
3RXUOHUDFFRUGHPHQWSDUOHEDVGHOD SODWHV
$/DXFROOHFWHXUG
DLU$' /DJDLQHSODWHIOH[LEOHSHXWrWUH
39&/RQJXHXUPP UDFFRXUFLHjODORQJXHXUVRXKDLWpH
PPSODW 6
XWLOLVHSRXUGHVFRXGHVRX
SRXUGHVFRPSHQVDWLRQVSDUDOOqOHV
3RXUUDFFRUGHUJDLQHVG
pYDFXDWLRQ
SODWHVXQUDFFRUGJDLQHSODWHHVW
QpFHVVDLUH
6
LOIDXWUHWLUHUOHMRLQWOHUDFFRUGHPHQW
GRLWrWUHIL[pHWpWDQFKpLILpDYHFOH
URXOHDXG
DGKpVLIDOXPLQLXP
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
*DLQHSODWH ࡱ+7 *DLQHSODWH ࡱ+7
DGDSWDWHXUF\OLQGULTXH DGDSWDWHXUF\OLQGULTXH
39&IDLEOHLQIODPPDELOLWp 0pWDO
PP PPSODWURQG
$GDSWDWHXUJDLQHSODWHJDLQHURQGH 3HUPHWO
DGDSWDWLRQG
XQHJDLQHSODWH
jXQWX\DXURQG
&RQVHLOVG·LQVWDOODWLRQ
&RQYLHQWDX[JDLQHVSODWHVHWJDLQHV &RQVHLOVG·LQVWDOODWLRQ
SODWHVIOH[LEOH $GDSWpSRXUJDLQHSODWHG
pYDFXDWLRQ
&RQYLHQWDX[JDLQHVURQGHVDYHF RXJDLQHSODWHIOH[LEOH
FRQQH[LRQJDLQHURQGHHWWX\DX $GDSWpSRXUWX\DXURQGHWWX\DX$OXIOH[
$OXIOH[ URQG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
*DLQHSODWH ࡱ+7 *DLQHSODWH ࡱ+7
DGDSWDWHXUF\OLQGULTXH DGDSWDWHXUF\OLQGULTXH
39&IDLEOHLQIODPPDELOLWp 0pWDO
PPSODWURQG PPSODWURQG
$GDSWDWLRQGHJDLQHSODWHjJDLQH 3HUPHWO
DGDSWDWLRQG
XQHJDLQHSODWH
F\OLQGULTXH jXQWX\DXURQG
&RQVHLOVG·LQVWDOODWLRQ &RQVHLOVG·LQVWDOODWLRQ
&RQYLHQWDX[JDLQHVSODWHVHWJDLQHV $GDSWpSRXUJDLQHSODWHG
pYDFXDWLRQ
SODWHVIOH[LEOHV RXJDLQHSODWHIOH[LEOH
&RQYLHQWSRXUJDLQHF\OLQGULTXH $GDSWpSRXUWX\DXURQGHW
DYHFFRQQH[LRQJDLQHURQGHHWWX\DX WX\DX$OXIOH[URQG
$OXIOH[
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ $' ࡱ
$GKpVLISRXU ࡱ+7 $GKpVLISRXU ࡱ+7
UDFFRUGHPHQWGHVJDLQHVG·pYDFXDWLRQ UDFFRUGHPHQWGHVJDLQHV
39& $OXPLQLXP
P5RXOHDX /DUJHXUPP
P5RXOHDX
&RQVHLOVG·LQVWDOODWLRQ
3RXUXQHERQQHpWDQFKpLWpGHV &RQVHLOVG·LQVWDOODWLRQ
FRQGXLWVGHUDFFRUGHPHQWHWXQH $GDSWpSRXUOHUDFFRUGHPHQWGHWRXWHV
UpGXFWLRQGHVIXLWHVG·DLUDXQLYHDX OHVSLqFHVGHFRQQH[LRQSRXUJDLQHV
GHVUDFFRUGVOHUXEDQDGKpVLI
$'HVWQpFHVVDLUH,OHVW
UpVLVWDQWjODFKDOHXUHWDX[89
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7 Raccord
$/ tuyau
avant/arrière
3RXUWX\DX$OXIOH[[PPURQG 2 x NW 150
0pWDOJDOYDQLVp AD 754 045
PPURQG
&RQVHLOVG·LQVWDOODWLRQ
,QVWDOODWLRQVXUO·DYDQWRXO·DUULqUHGHOD
$/
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7
$/
3RXUJDLQHVSODWHV[PP
0pWDOJDOYDQLVp
PPSODW
&RQVHLOVG·LQVWDOODWLRQ
,QVWDOODWLRQVXUO·DYDQWRXO·DUULqUHGHOD
KRWWHGHSODQ$/
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
ࡱ+7
3LqFHGHFRQQH[LRQ
$/
3RXUJDLQHVSODWHV[PP
0pWDOJDOYDQLVp
PPSODW
&RQVHLOVG·LQVWDOODWLRQ
,QVWDOODWLRQHQGHVVRXVGHODKRWWHGH
SODQ$/
6HWGHSLqFHV
'pIOHFWHXUG·DLU
5pIpUHQFHV5pIpUHQFHVRQOLQH
$$ ࡱ
3RXU9/ ࡱ+7
1pFHVVDLUHSRXULQVWDOODWLRQjF{Wp
G·DSSDUHLOVJD]
'pIOHFWHXUG·DLU
5pIpUHQFHV5pIpUHQFHVRQOLQH
/6ࡱ
3RXU9/ ࡱ+7
1pFHVVDLUHSRXULQVWDOODWLRQjF{Wp
G·DSSDUHLOVJD]
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7
IOH[LEOHSRXU9/HW9/
PPSODW
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7
SRXU9/HW9/SRXUH[WHQVLRQ
DYHFJDLQHSODWHSRXUSODQGHWUDYDLO
WUqVSURIRQG
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&ROOHFWHXUG
DLU ࡱ+7
SRXUJDLQHVSODWHV
PP
0pWDOJDOYDQLVpHW39&
&RQVHLOVG·LQVWDOODWLRQ
3RXUOHUDFFRUGHPHQWGHPRGXOHV
ILOWUHV$&8QPRGXOHGHFRPPDQGH
DYHFRXVDQVpFODLUDJHHVWQpFHVVDLUH
HQWUHOHV[$&
[PPHQWUpHVG
DLUJDLQHSODWH
[PPVRUWLHG
DLUJDLQHSODWH
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
7X\DX$OXIOH[URQG ࡱ+7
$OXPLQLXP
PPURQG
&RQVHLOVG·LQVWDOODWLRQ
$XWLOLVHUXQLTXHPHQWSRXUGHV
WUDMHFWRLUHVQRQUHFWLOLJQHVRXSRXU
GHVRXYHUWXUHVPXUDOHVURQGHVRX
GHVSHUoDJHVURQGVGDQVOHVRO
FROOLHUVGHVHUUDJHOLYUpVGHVpULH
3RXUUDFFRUGHPHQWDYHFWRXWHVOHV
SLqFHVGHFRQQH[LRQOLVVHUOHVH[WUpPL
WpVGXWX\DX
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
7X\DXURQG ࡱ+7
39&
PPURQG
&RQVHLOVG·LQVWDOODWLRQ
WX\DX[URQGVGRLYHQWrWUHUDFFRUGpV
HQVHPEOHjO·DLGHGHODSLqFHGH
FRQQH[LRQ$'
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqFHGHFRQQH[LRQ ࡱ+7
SRXUWX\DXURQG39&
39&
PPURQG
&RQVHLOVG·LQVWDOODWLRQ
WX\DX[URQGVGRLYHQWrWUHUDFFRUGpV
HQVHPEOHjO·DLGHGHODSLqFHGH
FRQQH[LRQ$'
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
5pGXFWHXUGHGLDPqWUH ࡱ+7
PPURQG
0pWDOJDOYDQLVp
3HUPHWGHUpGXLUHOHUDFFRUGHPHQW
PPjPP
&RQVHLOVG·LQVWDOODWLRQ
3HXWrWUHFRPELQpDYHFOHWX\DX
WpOHVFRSLTXHGHVRUWLHPXUDOH
PPHWXQHSLqFHGHFRQQH[LRQ
PP
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&RXGH ࡱ+7
39&
PPURQG
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
3LqJHjFRQGHQVDWLRQ ࡱ+7
39&
PPURQG
&RQVHLOVG·LQVWDOODWLRQ
&RQVHLOOpSRXUOHVORQJVWX\DX[
YHUWLFDX[
,QVWDOODWLRQjO·H[WUpPLWpEDVVH
GXWX\DX
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHYHQWLODWLRQ
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&ROOHFWHXUG
DLU ࡱ+7
PPWX\DXURQG
$FLHUJDOYDQLVp
&RQVHLOVG·LQVWDOODWLRQ
3RXUOHUDFFRUGHPHQWGHPRGXOHV
ILOWUHV$&8QPRGXOHGHFRPPDQ
GHDYHFRXVDQVpFODLUDJHHVWQpFHV
VDLUHHQWUHOHV[$&
[PPHQWUpHVG
DLUWX\DXURQG
[PPVRUWLHG
DLUWX\DXURQG
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&ROOHFWHXUG
DLU ࡱ+7
PPURQG
$FLHUJDOYDQLVp
&RQVHLOVG·LQVWDOODWLRQ
[PPHQWUpHVG
DLUWX\DXURQG
3RXUOHUDFFRUGHPHQWGH[$/
jXQPRWHXUVpSDUp$5$5
[PPHQWUpHG
DLU
3RXUOHUDFFRUGHPHQWGH[$/
j$5$5RX$5
5pIpUHQFHV5pIpUHQFHVRQOLQH
$' ࡱ
&ROOHFWHXUG
DLU ࡱ+7
SRXUJDLQHVSODWHV
PP
$FLHUJDOYDQLVp
&RQVHLOVG·LQVWDOODWLRQ
[PPHQWUpHG
DLUJDLQHSODWH
3RXUOHUDFFRUGHPHQWGH[$/
YHUVOHEDVjPRWHXUVpSDUp
$5$5
3RXUOHUDFFRUGHPHQWGH$/j
$5$5XWLOLVHUOHWX\DX
IOH[LEOH$'GRQWODORQJXHXU
SHXWrWUHDMXVWpH
IL[DWLRQVOLYUpHVGHVpULHSRXUIL[HUOH
WX\DXIOH[LEOH$'
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVG
DVSLUDWLRQ
+RWWHVGHSODIRQG6pULH
7\SHG
DSSDUHLO +RWWHGHSODIRQG +RWWHGHSODIRQG +RWWHGHSODIRQG
0RGXOH=OWUH 0RGXOHGHFRPPDQGH 0RGXOHGHFRPPDQGH
,QR[ $& $& $&
(YDFXDWLRQH[WpULHXUH5HF\FODJH
$5$5
&RPSDWLEOHDYHFpYDFXDWLRQ
$5
$5HW
&RPSDWLEOHDYHFUHF\FODJH
$$RX$$
'LPHQVLRQV
/DUJHXUKRUVWRXW FP
3URIRQGHXUKRUVWRXW FP
+DXWHXU FP
3RLGVQHW NJ
&RQVRPPDWLRQVVHORQQRUPHV(8
&ODVVHG
HZFDFLWppQHUJpWLTXH %ó
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ó
&ODVVHG
HZFDFLWpGXPRWHXU $ó
&ODVVHG
HZFDFLWpGHO
pFODLUDJH (ó
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH %ó
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$
3XLVVDQFHVG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpV 3XLVVDQFHSDUPRWHXU
QLYHDX[GHSXLVVDQFH,QWHQVLI VpSDUpSRXUXQ
PRGXOHILOWUHò
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQLQWpULHXUH PóK ² ²
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQH[WpULHXUH PóK ² ²
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQLQWpULHXUH PóK
5HF\FODJHDYHF$5HW$$RX$$ PóK
&DUDFWpULVWLTXHV
7pOpFRPPDQGHLQIUDURXJH
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQWHPSRULVDWLRQ PLQ PLQ
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH ² ²
7\SHGH=OWUHjJUDLVVH $VSLUDWLRQSpULSKpULTXH
1RPEUHGH=OWUHVjJUDLVVH
7\SHG
pFODLUDJH /('
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVRXVODWpUDOHGHVVXVGHUULqUH ²²²
3LqFHGHFRQQH[LRQPPWX\DXURQG
3LqFHGHFRQQH[LRQPPJDLQHSODWH $'ñ
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
/RQJXHXUGXFkEOHUpVHDX
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVGHN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH : GpSHQGGXPRWHXU GpSHQGGXPRWHXU
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ$FFHVVRLUHVSpFLDO
ò3RXUGHVFRQILJXUDWLRQVDYHFSOXVLHXUVPRGXOHVILOWUHVSDUPRWHXUVpSDUpODSXLVVDQFHSHXWDXJPHQWHUMXVTX
jPKSDUPRGXOHILOWUH
/HVYDOHXUVVHUpIqUHQWjODFRQILJXUDWLRQ$&[$&[DYHFXQPRWHXUVpSDUp$5[
$SSDUHLOVG
DVSLUDWLRQ
+RWWHGHSODIRQG
0RGXOHG
pFODLUDJH
$&
²
²
/('
+RWWHVGHSODIRQG6pULH
7\SHG
DSSDUHLO +RWWHGHSODIRQG +RWWHGHSODIRQG +RWWHGHSODIRQG
*DJJHQDX/LJKW%URQ]H $& $&
*DJJHQDX%ODFN $&
(YDFXDWLRQH[WpULHXUHUHF\FODJH ² ²
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXU FP
+DXWHXU FP
3RLGV NJ
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ ² ²
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ² ²
&ODVVHG
HZFDFLWpGXPRWHXU $ ² ²
&ODVVHG
HZFDFLWpGHO
pFODLUDJH ² ²
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH ( ² ²
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ² ²
3XLVVDQFHG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUH PóK ² ²
5HF\FODJH PóK
3UHVVLRQPD[HQPóK 3D ² ²
1LYHDXVRQRUH(1PD[,QW
0RGHpYDFXDWLRQ G%$UHS: ² ²
0RGHUHF\FODJH G%$UHS:
&DUDFWpULVWLTXHV
7pOpFRPPDQGH
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQWHPSRULVDWLRQ LQWpJUpH LQWpJUpH LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
7\SHG
pFODLUDJH ² ² /('
3XLVVDQFHG
pFODLUDJH : ² ²
/XPLQRVLWp O[ ² ²
&RXOHXUGHO
pFODLUDJH .HOYLQ ² ²
9DULDWHXUG
LQWHQVLWpGHO
pFODLUDJHDMXVWDEOHYLD+RPH&RQQHFW .HOYLQ ² ²
3LqFHGHFRQQH[LRQ ¡PP ² ²
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVXVODWpUDOHGHUULqUHGHYDQW ² ² ²
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P ² ²
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOHUpJODJHGHODWDEOHGHFXLVVRQ ñ ñ ñ
+RPH&RQQHFWYLD:L)L ò ò ò
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ(QFRPELQDLVRQDYHFWDEOHGHFXLVVRQFRPSDWLEOH
ò'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
+RWWHVGHSODQGHWUDYDLO6pULH $SSDUHLOVG
DVSLUDWLRQ
7\SHG
DSSDUHLO +RWWHGHSODQGHWUDYDLO +RWWHGHSODQGHWUDYDLO
,QR[ $/ $/
(YDFXDWLRQH[WpULHXUH5HF\FODJH
$5$5
&RPSDWLEOHDYHFpYDFXDWLRQ ²ó
$5
&RPSDWLEOHDYHFUHF\FODJH [$5[$5 $5
'LPHQVLRQV
+DXWHXUKRUVWRXW FP
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQ
+DXWHXUGpSOR\pH FP
/DUJHXUVXUOHSODQGHWUDYDLO FP
/DUJHXUGDQVOHPHXEOHEDV FP
3URIRQGHXUVXUOHSODQGHWUDYDLO FP
+DXWHXUGDQVPHXEOHEDVLQVWDODOWLRQFODVVLTXHjYHXUGHSODQ FP ² ²
3RLGVQHW NJ
&RQVRPPDWLRQVVHORQQRUPHV(8
&ODVVHG
HZFDFLWppQHUJpWLTXH $ò
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ò
&ODVVHG
HZFDFLWpGXPRWHXU $ò
&ODVVHG
HZFDFLWpGHO
pFODLUDJH (ò
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH &ò
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ò
3XLVVDQFHVG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpV
DYHFFRQQH[LRQV DYHFFRQQH[LRQV
QLYHDX[GHSXLVVDQFH,QWHQVLI
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQLQWpULHXUH PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQVXUPXUH[WpULHXU PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH PóK
&DUDFWpULVWLTXHV
8QLWpGHYHQWLODWLRQWpOHVFRSLTXH
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQ$XWRPDWLTXH ² ²
)RQFWLRQWHPSRULVDWLRQ PLQ PLQ PLQ
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV
7\SHG
pFODLUDJH /(' /('
3XLVVDQFHG
pFODLUDJH : [ [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVRXVODWpUDOHGHUULqUH ² ²
3LqFHGHFRQQH[LRQPPWX\DXURQG $'ñ $'ñ
3LqFHGHFRQQH[LRQPPJDLQHSODWHGHYDQWRXGHUULqUH $'ñ $'ñ
3LqFHGHFRQQH[LRQPPJDLQHSODWHHQGHVVRXV $'ñ $'ñ
/RQJXHXUGXFkEOHUDFFRUGHPHQW P
5DFFRUGHPHQW
3XLVVDQFHWRWDOH : GpSHQGGXPRWHXU GpSHQGGXPRWHXU
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ$FFHVVRLUHVSpFLDO
ò/HVYDOHXUVVHUpIqUHQWjODFRQ=JXUDWLRQ$/DYHFOHPRWHXUVpSDUp$5
ó/HVQRUPHVpQHUJpWLTXHVUHVWULFWLYHVHQ(XURSHQHSHUPHWWHQWSOXVO
LQVWDOODWLRQGHOD$/ODUJHXUFPHQpYDFXDWLRQH[WpULHXUH
1RXVUHFRPPDQGRQVG
LQVWDOOHUODKRWWHGHSODQGHWUDYDLO$/HQPRGHUHF\FODJHDYHFPRWHXUV
+RWWHVGHSODQGHWUDYDLO6pULH
7\SHG
DSSDUHLO +RWWHGHSODQGHWUDYDLO +RWWHGHSODQGHWUDYDLO
*DJJHQDX%ODFN $/ $/
(YDFXDWLRQH[WpULHXUHUHF\FODJH
&RPSDWLEOHDYHFOHVWDEOHVLQGXFWLRQVDQVFDGUH &; &;
SRXULQVWDOODWLRQjYHXUGHSODQGDQVXQHVHXOHGpFRXSH &, &,
'LPHQVLRQV
/DUJHXU FP
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQ
+DXWHXUGpSOR\pH FP
/DUJHXUVXUOHSODQGHWUDYDLO FP
3URIRQGHXUVXUOHSODQGHWUDYDLO FP
/DUJHXUGDQVOHPHXEOHEDV FP
+DXWHXUGDQVOHPHXEOHEDV FP
3RLGVQHW NJ
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ò
&ODVVHG
HZFDFLWpGXPRWHXU $ $ò
&ODVVHG
HZFDFLWpGHO
pFODLUDJH ² ²
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH % %ò
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ò
3XLVVDQFHG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
3UHVVLRQPD[HQPóK 3D
1LYHDXVRQRUH(1PD[,QW
0RGHpYDFXDWLRQ G%$UHS: ò
0RGHUHF\FODJH G%$UHS: ò
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH LQWHQVLI LQWHQVLI
)RQFWLRQDXWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ ² ²
,QGLFDWHXUGHVDWXUDWLRQGX=OWUH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
5pFXSpUDWHXUGHJUDLVVHV
/XPLQRVLWp
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVXVODWpUDOHGHUULqUHGHYDQW ²²² ²²²
3XLVVDQFHVRUWLHYHQWLODWHXU :
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOHUpJODJHGHODWDEOHGHFXLVVRQ
+RPH&RQQHFWYLD:L)L ñ ñ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
ò'RQQpHVQRQGp=QLWLYHVUHVWHQWjFRQ=UPHU
9DULRDpUDWHXU6pULH $SSDUHLOVG
DVSLUDWLRQ
7\SHG
DSSDUHLO 9DULRDpUDWHXU
,QR[ 9/
(YDFXDWLRQH[WpULHXUHUHF\FODJH
&RPSDWLEOHDYHFFDLVVRQPRWHXUpYDFXDWLRQ $5$5$5
&RPSDWLEOHDYHFFDLVVRQPRWHXUUHF\FODJH $5$5
'LPHQVLRQV
+DXWHXUKRUVWRXW FP
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQ
/DUJHXUVXUOHSODQGHWUDYDLO FP
/DUJHXUGDQVOHPHXEOHEDV FP
3URIRQGHXUVXUOHSODQGHWUDYDLO FP
+DXWHXUGDQVPHXEOHEDVLQVWDOODWLRQFODVVLTXHjYHXUGHSODQ FP
3RLGVQHW NJ
&RQVRPPDWLRQVVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ñ
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ñ
&ODVVHG
HZFDFLWpGXPRWHXU $ñ
&ODVVHG
HZFDFLWpGHO
pFODLUDJH ²
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH %ñ
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ñ
3XLVVDQFHG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpV
[9/
QLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQLQWpULHXUH PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQVXUPXUH[WpULHXU PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH PóK
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH LQWHQVLI
)RQFWLRQDXWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHjJUDLVVH )LOWUHPpWDOOLTXH
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV
&RQQH[LRQpYDFXDWLRQH[WpULHXUHEDVODWpUDOHDUULqUH ²²
3LqFHGHFRQQH[LRQ¡PPJDLQHSODWH $'ò
3LqFHGHFRQQH[LRQSRXUH[WHQVLRQJDLQHSODWHPP $'ò
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOHUpJODJHGHODWDEOHGHFXLVVRQ ó
+RPH&RQQHFWYLD:L)L ࡆ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH : GpSHQGGXPRWHXU
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
ñ/HVYDOHXUVVHUpIpUHQWjODFRQILJXUDWLRQ9/DYHFOHPRWHXUVpSDUp$5
ò$FFHVVRLUHVSpFLDO
ó(QFRPELQDLVRQDYHFODWDEOHGHFXLVVRQFRPSDWLEOH
ࡆ'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
9DULRDpUDWHXU6pULH
7\SHG
DSSDUHLO 9DULRDpUDWHXU
,QR[ 9/
(YDFXDWLRQH[WpULHXUHUHF\FODJH
&RPSDWLEOHDYHFFDLVVRQPRWHXUpYDFXDWLRQ $5$5$5
&RPSDWLEOHDYHFFDLVVRQPRWHXUUHF\FODJH $5$5
'LPHQVLRQV
,QVWDOODWLRQFODVVLTXHjYHXUGHSODQ
/DUJHXUVXUOHSODQGHWUDYDLO FP
3URIRQGHXUVXUOHSODQGHWUDYDLO FP
+DXWHXUGDQVPHXEOHEDVLQVWDOODWLRQFODVVLTXHjYHXUGHSODQ FP
3RLGVQHW NJ
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ò
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ò
&ODVVHG
HZFDFLWpGXPRWHXU $ò
&ODVVHG
HZFDFLWpGHO
pFODLUDJH
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH %ò
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ò
3XLVVDQFHG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFHLQWHQVLI
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH PóK
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH PóK
eYDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH PóK
eYDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQVXUPXUH[WpULHXU PóK
1LYHDXVRQRUH(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFHLQWHQVLI
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH G%$UHS:
5HF\FODJHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH G%$UHS:
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGHUULqUHSOLQWKH G%$UHS:
eYDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQGDQVXQPHXEOH G%$UHS:
eYDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQVXUPXUH[WpULHXU G%$UHS:
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH LQWHQVLI
)RQFWLRQDXWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
7\SHGH=OWUHjJUDLVVH )LOWUHPpWDOOLTXH
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
&RQQH[LRQpYDFXDWLRQH[WpULHXUHEDVODWpUDOHDUULqUH
3LqFHGHFRQQH[LRQ¡JDLQHSODWH $'ñ
3LqFHGHFRQQH[LRQSRXUH[WHQVLRQ¡JDLQHSODWH $'ñ
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
5DFFRUGHPHQW
3XLVVDQFHWRWDOH : GpSHQGGXPRWHXU
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVSpFLDO
ò/HVYDOHXUVVHUpIpUHQWjODFRQ=JXUDWLRQ9/DYHFOHPRWHXUVpSDUp$5
+RWWHVvORWV6pULH $SSDUHLOVG
DVSLUDWLRQ
7\SHG
DSSDUHLO +RWWHvORW +RWWHvORW +RWWHvORW
,QR[ $, $, $,
(YDFXDWLRQH[WpULHXUH5HF\FODJH
$5$5 $5$5 $5$5
&RPSDWLEOHDYHFpYDFXDWLRQ
$5 $5 $5
&RPSDWLEOHDYHFUHF\FODJH $5HW$$ $5HW$$ $5HW$$
'LPHQVLRQVDYHFFKHPLQpH
/DUJHXU FP
3URIRQGHXU FP
+DXWHXUpYDFXDWLRQH[WpULHXUHUHF\FODJHPLQPD[ FP ² ² ²
3RLGVQHW NJ
3RLGVGHODFKHPLQpHPLQPD[ NJ ² ² ²
&RQVRPPDWLRQVVHORQQRUPHV(8
&ODVVHG
HZFDFLWppQHUJpWLTXH $ñ $ñ $ñ
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ ñ ñ ñ
&ODVVHG
HZFDFLWpGXPRWHXU $ñ $ñ $ñ
&ODVVHG
HZFDFLWpGHO
pFODLUDJH % % %
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH %ñ %ñ %ñ
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$ ñ ñ ñ
3XLVVDQFHVG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFH,QWHQVLI
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQLQWpULHXUH PóK
(YDFXDWLRQH[WpULHXUHDYHF$5GDQVFKHPLQpHGH$,$: PóK
(YDFXDWLRQH[WpULHXUHDYHF$5SRXULQVWDOODWLRQVXUPXUH[WpULHXU PóK
5HF\FODJHDYHF$5GDQVFKHPLQpHGH$,$: PóK
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQ$XWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH LQWpJUpH LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ ² ² ²
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
7\SHGH=OWUHjJUDLVVH )LOWUHVjFKLFDQHV )LOWUHVjFKLFDQHV )LOWUHVjFKLFDQHV
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV
7\SHG
pFODLUDJH /(' /(' /('
3XLVVDQFHG
pFODLUDJH : [ [ [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVXVODWpUDOHGHUULqUHGHYDQW6 VXUPHVXUH 666 666 666
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVGHN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH : GpSHQGGXPRWHXU GpSHQGGXPRWHXU GpSHQGGXPRWHXU
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ/HVYDOHXUVVHUpIqUHQWjODFRQ=JXUDWLRQ$,$:DYHFOHPRWHXUVpSDUp$5
+RWWHVvORWV6pULH
7\SHG
DSSDUHLO +RWWHvORW
,QR[ $,
(YDFXDWLRQH[WpULHXUHUHF\FODJH
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXU FP
+DXWHXUpYDFXDWLRQH[WpULHXUHUHF\FODJHPLQPD[ FP ²²
3RLGVQHW NJ
3RLGVGHODFKHPLQpH NJ
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ
&ODVVHG
HZFDFLWpGXPRWHXU $
&ODVVHG
HZFDFLWpGHO
pFODLUDJH $
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH %
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$
3XLVVDQFHG
DVSLUDWLRQVHORQQRUPH(1QLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
3UHVVLRQPD[HQPóK 3D
1LYHDXVRQRUH3XLVVDQFHDFRXVWLTXHVHORQQRUPH(1PD[LQW
0RGHpYDFXDWLRQ G%$UHS:
0RGHUHF\FODJH G%$UHS:
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH
)RQFWLRQDXWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV
7\SHG
pFODLUDJH /('
3XLVVDQFHG
pFODLUDJH : [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
*DPPHGHFRXOHXUDMXVWDEOHDYHF+RPH&RQQHFW .HOYLQ
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHKDXWF{WpDUULqUHGHYDQW6 VXUPHVXUH 666
3XLVVDQFHGXYHQWLODWHXU :
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOHUpJODJHGHODWDEOHGHFXLVVRQ ñ
+RPH&RQQHFWYLD:L= ò
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ(QFRPELQDLVRQDYHFWDEOHGHFXLVVRQFRPSDWLEOH
ò'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
+RWWHVPXUDOHV6pULH $SSDUHLOVG
DVSLUDWLRQ
7\SHG
DSSDUHLO +RWWHPXUDOH +RWWHPXUDOH +RWWHPXUDOH
,QR[ $: $: $:
(YDFXDWLRQH[WpULHXUH5HF\FODJH
$5$5 $5$5 $5$5
&RPSDWLEOHDYHFpYDFXDWLRQ
$5 $5 $5
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ/HVYDOHXUVVHUpIqUHQWjODFRQ=JXUDWLRQ$,$:DYHFOHPRWHXUVpSDUp$5
+RWWHVPXUDOHV6pULH
7\SHG
DSSDUHLO +RWWHPXUDOH +RWWHPXUDOH
,QR[ $:
3DQQHDXYHUUHDQWKUDFLWH*DJJHQDX $:
(YDFXDWLRQH[WpULHXUHUHF\FODJH
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXU FP
+DXWHXUpYDFXDWLRQH[WpULHXUHUHF\FODJHPLQPD[ FP ²² ²
3RLGVQHW NJ
3RLGVGHODFKHPLQpH
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ
&ODVVHG
HZFDFLWpGXPRWHXU $ $
&ODVVHG
HZFDFLWpGHO
pFODLUDJH $ $
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH % %
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$
3XLVVDQFHG
DVSLUDWLRQVHORQQRUPH(1QLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
3UHVVLRQPD[HQPóK 3D
1LYHDXVRQRUH3XLVVDQFHDFRXVWLTXHVHORQQRUPH(1PD[LQW
0RGHpYDFXDWLRQ G%$UHS:
0RGHUHF\FODJH G%$UHS:
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQDXWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjFKDUERQDFWLI
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV ²
7\SHG
pFODLUDJH /(' /('
3XLVVDQFHG
pFODLUDJH : [ [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
*DPPHGHFRXOHXUDMXVWDEOH+RPH&RQQHFW .HOYLQ
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHKDXWF{WpDUULqUHGHYDQW6 VXUPHVXUH 666 666
3XLVVDQFHGXYHQWLODWHXU :
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
&RQWU{OHGHODYHQWLODWLRQEDVpHVXUOHUpJODJHGHODWDEOHGHFXLVVRQ ñ ñ
+RPH&RQQHFWYLD:L= ò ò
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ(QFRPELQDLVRQDYHFWDEOHGHFXLVVRQFRPSDWLEOH
ò'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
+RWWHVWLURLUV6pULH $SSDUHLOVG
DVSLUDWLRQ
7\SHG
DSSDUHLO +RWWHWLURLU +RWWHWLURLU
,QR[ $) $)
(YDFXDWLRQH[WpULHXUHUHF\FODJH
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXU FP
3URIRQGHXUDYHFWLURLUSDUHYDSHXUVRUWL FP
+DXWHXU FP
3RLGVQHW NJ
&RQVRPPDWLRQVVHORQQRUPHV(8
&ODVVHG
HZFDFLWppQHUJpWLTXH $ $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ
&ODVVHG
HZFDFLWpGXPRWHXU $ $
&ODVVHG
HZFDFLWpGHO
pFODLUDJH $ $
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH % %
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$
3XLVVDQFHVG
DVSLUDWLRQVHORQQRUPH(1QLYHDX[GHSXLVVDQFH,QWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
&RQWUHSUHVVLRQPD[jPK 3D
1LYHDXVRQRUH3XLVVDQFHDFRXVWLTXHVHORQQRUPH(1PD[,QW
(YDFXDWLRQH[WpULHXUH G%$UHS:
5HF\FODJH G%$UHS:
&DUDFWpULVWLTXHV
7LURLUSDUHYDSHXUHQYHUUH
(PSODFHPHQWpOpPHQWVGHFRPPDQGH 7RXFKHVVXUO
DYDQW 7RXFKHVVXUO
DYDQW
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQ$XWRPDWLTXH
)RQFWLRQWHPSRULVDWLRQ PLQ LQWpJUpH LQWpJUpH
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ ² ²
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
7\SHGH=OWUHjJUDLVVH )LOWUHLQR[ )LOWUHLQR[
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV ² ²
7\SHG
pFODLUDJH /(' /('
3XLVVDQFHG
pFODLUDJH : [ [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHGHVVXVODWpUDOHGHUULqUHGHYDQW6 VXUPHVXUH ²²² ²²²
9HQWLODWHXU 1RPEUH
3XLVVDQFHGXYHQWLODWHXU :
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVGHN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
*URXSHVILOWUDQWV6pULH
7\SHG
DSSDUHLO *URXSHILOWUDQW *URXSHILOWUDQW
&RXOHXU,QR[ $& $&
(YDFXDWLRQH[WpULHXUHUHF\FODJH
'LPHQVLRQV
/DUJHXU FP
3URIRQGHXU FP
+DXWHXU FP FDLVVRQ FDLVVRQ
3RLGVQHW NJ
&RQVRPPDWLRQVHORQQRUPHV(8
&ODVVHG
HZFLHQFHpQHUJpWLTXH $ $
&RQVRPPDWLRQpQHUJpWLTXH N:KDQ N:K N:K
&ODVVHG
HZFDFLWpGXPRWHXU $ $
&ODVVHG
HZFDFLWpGHO
pFODLUDJH $ $
&ODVVHG
HZFDFLWpGX=OWUHjJUDLVVH ' '
1LYHDXVRQRUHPLQPD[SRVLWLRQQRUPDOH G%$
3XLVVDQFHG
DVSLUDWLRQVHORQQRUPH(1QLYHDX[GHSXLVVDQFHLQWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
3UHVVLRQPD[HQPóK 3D
1LYHDXVRQRUH3XLVVDQFHDFRXVWLTXHVHORQQRUPH(1PD[LQW
0RGHpYDFXDWLRQ G%$UHS:
0RGHUHF\FODJH G%$UHS:
&DUDFWpULVWLTXHV
7pOpFRPPDQGH ñ ñ
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
)RQFWLRQDXWRPDWLTXH ² ²
)RQFWLRQWHPSRULVDWLRQ PLQ PLQ
)RQFWLRQDVSLUDWLRQLQWHUPLWWHQWH PLQ PLQ
,QGLFDWHXUGHVDWXUDWLRQGX=OWUHjJUDLVVH
7\SHGH=OWUHjJUDLVVH )LOWUHVPpWDOOLTXHV )LOWUHVPpWDOOLTXHV
1RPEUHGH=OWUHVjJUDLVVH
&DQDOGHUpWHQWLRQGHVJUDLVVHV ² ²
7\SHG
pFODLUDJH /(' /('
3XLVVDQFHG
pFODLUDJH : [ [
/XPLQRVLWp O[
&RXOHXUGHO
pFODLUDJH .HOYLQ
3LqFHGHFRQQH[LRQ ¡PP
&RQQH[LRQpYDFXDWLRQH[WpULHXUHKDXWF{WpDUULqUHGHYDQW6 VXUPHVXUH ²²² ²²²
9HQWLODWHXU 1E
3XLVVDQFHGXYHQWLODWHXU :
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P
+DXWHXUPLQLPDOHDXGHVVXVGXSODQGHFXLVVRQ
3RXUDSSDUHLOVJD]G
XQHSXLVVDQFHGHPRLQVSOXVN: FP
3RXUDSSDUHLOVpOHFWULTXHV FP
5DFFRUGHPHQW
3XLVVDQFHWRWDOH :
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$FFHVVRLUHVSpFLDO
$SSDUHLOVG
DVSLUDWLRQ
*URXSHILOWUDQW
$&
FDLVVRQ
$
N:K
$
$
'
ñ
SOXVLQWHQVLYH
²
PLQ
PLQ
)LOWUHVPpWDOOLTXHV
²
/('
[
²²²
0RWHXUVVpSDUpV6pULHHW6pULH
0RWHXULQWpULHXU
7\SHG
DSSDUHLO 0RWHXULQWpULHXU
SRXU$,$:
,QR[
&DUURVVDJHPpWDO $5 $5
(YDFXDWLRQH[WpULHXUH5HF\FODJH ² ²
'LPHQVLRQV
/DUJHXU PP
3URIRQGHXU PP
+DXWHXU PP
3RLGVQHW NJ
3RVVLELOLWpVG
LQVWDOODWLRQ
7RLWHQSHQWHSDVG
(WHUQLW
0XUH[WpULHXU
0XULQWpULHXU
0HXEOHEDV
&KHPLQpHGHKRWWH$,$:
*UHQLHU
&DYH
3XLVVDQFHVG
DVSLUDWLRQ(1DYHFPRWHXUVVpSDUpVQLYHDX[GHSXLVVDQFH,QWHQVLI
(YDFXDWLRQH[WpULHXUH PóK
5HF\FODJH PóK
&RQWUHSUHVVLRQPD[jPK 3D
&DUDFWpULVWLTXHV
1LYHDX[GHSXLVVDQFH SOXVLQWHQVLYH SOXVLQWHQVLYH
7HFKQRORJLHGXPRWHXU %/'& %/'&
9HQWLODWHXU 1RPEUH
3XLVVDQFHGXYHQWLODWHXU :
,VRODWLRQSKRQLTXH
6XSSRUWGH=[DWLRQ ²
5DFFRUGVG
HQWUpHVG
DLU ¡PP [
5DFFRUGVRUWLHG
DLU ¡PP [ [
&DFKHSRXUIHUPHWXUHGHVHQWUpHVG
DLU ²
)LOWUHjFKDUERQDFWLI ² ²
/RQJXHXUGXFkEOHGHUDFFRUGHPHQW P ²
/RQJXHXUGXFkEOHUpVHDX P ²
5DFFRUGHPHQWHQFRPELQDLVRQDYHFO
pOHPHQWG
DVSLUDWLRQ
6XSSUHVVLRQGHVLQWHUIpUHQFHVGHVRQGHVUDGLRV
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH
$SSDUHLOVG
DVSLUDWLRQ
$5
$5 $5 $5
² ² ² ²
$SSDUHLOVGHIURLG
9XHG
HQVHPEOHGHVDSSDUHLOVGHIURLG
)URLG9DULR6pULHUpIULJpUDWHXUVFRQJpODWHXUV
HWFDYHVjYLQV
&RQVHLOVG·LQVWDOODWLRQSRXUOHVDSSDUHLOV
GHIURLG9DULR6pULH
$FFHVVRLUHVSRXUOHVDSSDUHLOVGHIURLG9DULR6pULH
6LGHE\6LGH3RVH/LEUH6pULH
)URLG9DULR6pULHUpIULJpUDWHXUVHWFRQJpODWHXUV
$SSDUHLOVGHIURLG6pULH
&RQVHLOVG
LQVWDOODWLRQSRXUOHVDSSDUHLOVGHIURLG
9DULR6pULHHW)URLG6pULH
$SSDUHLOVGHIURLG
&DYHVjYLQ
$FFHVVRLUHV
'RQQpHVWHFKQLTXHV
9XHG·HQVHPEOHGHODJDPPHIURLG
)URLG9DULR6pULH
1LFKHFP
)&!&
)&!&
)& =RQHIUDvFKHXU
)&!&=RQHIUDvFKHXUSURFKHGH&
)&& =RQHIUDvFKHXU&
: 9LQ
' 'LVWULEXWHXUG
HDXHWGHJODoRQV
,FH )DEULTXHGHJODoRQV
$SSDUHLOVGHIURLG
9XHG
HQVHPEOH
)URLG9DULR6pULH
1LFKHFP
$XWUHVDSSDUHLOVGHIURLG
3RVH/LEUH 1LFKHFP
+DXWHXUFP
7,52,5
1LFKHFP6RXVSODQ
9XHG
HQVHPEOH
&DYHVjYLQ
1LFKHFP
5: 5:
1LFKHFP
1LFKHFP 1LFKHFP6RXVSODQ
3RXUWRXWHH[SRUWDWLRQKRUV8QLRQ(XURSpHQQHO·DSSUREDWLRQWHFKQLTXHGHOLEpUDWLRQGHV3URGXLWVDpWpGRQQpHSRXUOD)UDQFH
PpWURSROLWDLQHHWO·HQVHPEOHGHV'520&20jO·H[FHSWLRQGHVSD\VVXLYDQWV3RO\QpVLH6DLQW%DUWKpOpP\6W0DUWLQ6DLQW3LHUUH
HW0LTXHORQHW:DOOLVHW)XWXQD1RVDSSDUHLOVGH)URLGVRQWFRQoXVH[FOXVLYHPHQWSRXUXQXVDJHGDQVGHVSLqFHVFOLPDWLVpHV
&RPELQp5pIULJpUDWHXU&RQJpODWHXU 5$ ࡱ &RQWUHSRUWHSODQHHQLQR[
9DULR6pULH %DJXHWWHVGH ࡱ+7 DYHFV\VWqPHGHUDLOVSRXUXQ
5< FRQQH[LRQYHUWLFDOHVSRXU[ SRVLWLRQQHPHQWWRWDOHPHQWIOH[LEOH
SDQQHDX[G
KDELOODJHSRXUFRPELQp GHVEDOFRQQHWVGHFRQWUHSRUWH
² ,QWpULHXUWRXWLQR[DYHFpOpPHQWV 5%5<SRXUXQHHVWKpWLTXH FRPSDUWLPHQWVUpJODEOHVHQ
GHUDQJHPHQWHQ$OXPLQLXPPDVVLI YLVXHOOHSDUIDLWH KDXWHXUGDQVODFRQWUHSRUWH
$QWKUDFLWH 5$ ೦ ࡱ GRQWSDUWLFXOLqUHPHQWSURIRQGV
² (FODLUDJHEODQFFKDXGJUkFHDX[ *ULOOHGHYHQWLODWLRQ ࡱ+7 9ROXPHQHWWRWDOGHWRXWHOD=RQH
6SRWV/('DQWLpEORXLVVHPHQW LQR[ 5pIULJpUDWLRQOLWUHV
² 2XYHUWXUHGHSRUWHDVVLVWpH 3RXU5%5<
)RQFWLRQ3XVKWRRSHQSRXUOHV =RQHIUDvFKHXUSURFKHGH&
KDELOODJHVGHSRUWHVDQVSRLJQpH $FFHVVRLUHVHQRSWLRQ WLURLUIUDvFKHXUSURFKHGH&
)RQFWLRQ3XOOWRRSHQSRXU 5$ ࡱ WRWDOHPHQWH[WUDFWLEOHDYHFIDoDGH
IDFLOLWHUO
RXYHUWXUHGHVSRUWHV %RvWHGHFRQVHUYDWLRQ ࡱ+7 WUDQVSDUHQWHpFODLUp
G
KDELOODJHDYHFSRLJQpH DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH 6\VWqPHGHIHUPHWXUHDPRUWLH
² &RQWUHSRUWHVSODQHVHQLQR[ 5$ ࡱ 7HPSpUDWXUHUpJODEOHPDQXHOOHPHQW
² 6\VWqPHGHUDLOVSUHVTXHLQYLVLEOH )LOWUHjHDXSRXU ࡱ+7 ,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
SRXUXQSRVLWLRQQHPPHQWIOH[LEOH V\VWqPHGHILOWUDWLRQLQWpJUpH
೦1RXYHDX GHVpWDJqUHVHWEDOFRQQHWVGHOD DYHFLQGLFDWHXUGHVDWXUDWLRQ =RQHIUDvFKHXU
5< ೦ ࡱ FRQWUHSRUWH 3RXU5%5<5) WLURLUIUDvFKHXUWRWDOHPHQWH[WUDFWLEOH
=RQHIUDvFKHXUSURFKH ࡱ+7 ² %DOFRQQHWVGHODFRQWUHSRUWHHQ 3RXU5)
5)
DYHFIDoDGHWUDQVSDUHQWHpFODLUp
GH& $OXPLQLXPPDVVLI$QWKUDFLWH jSDUWLUGH)' 6\VWqPHGHIHUPHWXUHDPRUWLH
7RXWLQWpJUDEOH ² 8QWLURLUIUDvFKHXUSURFKHGH 5pJODJHPDQXHOGHO
KXPLGLWp
+RPH&RQQHFW &DYHFUpJODJHPDQXHOGHOD ,GpDOSRXUIUXLWVHWOpJXPHV
/DUJHXUGHODQLFKHFP WHPSpUDWXUHHWXQWLURLUIUDvFKHXU
+DXWHXUGHODQLFKHFP DYHFUpJODJHPDQXHOGHO
KXPLGLWp &RQJpODWHXU
=RQHUpIULJpUDWLRQDYHFXQHGRXEOH ² )DEULTXHGHJODFHLQWpJUpHDYHF 7HFKQRORJLH1R)URVWDYHF6XSHU
SRUWHHW]RQHFRQJpODWLRQDYHFWLURLU UDFFRUGHPHQWGLUHFWjO
HDX &RQJpODWLRQMXVTX
j&
FRXOLVVDQWHQWLqUHPHQWH[WUDFWLEOH ² 8QHWDEOHWWHHQYHUUHDV\PpWULTXH 7HPSpUDWXUHUpJODEOHGH&j
UpJODEOHHQKDXWHXU &
/HSUL[FRPSUHQG ² 7LURLUGHFRQJpODWLRQWRWDOHPHQW &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
FDVLHUjRHXIVDYHFFRXYHUFOH H[WUDFWLEOHDYHFVpSDUDWLRQSUDWLTXH &DSDFLWpGHFRQJpODWLRQNJHQK
SHOOHjJODoRQV HQ$QWKUDFLWH $XWRQRPLHGHKHQFDVGHFRXSXUH
² (FUDQ7)7VHQVLWLI GHFRXUDQW
$FFHVVRLUHVG
LQVWDOODWLRQUHTXLV ² 9ROXPHQHWWRWDOOLWUHV WLURLUVLQWpULHXUVWRWDOHPHQWH[WUDFWLEOHV
5$ ࡱ (FODLUDJHLQWpULHXUSDU6SRUWV/('
$FFHVVRLUH ࡱ+7 %DQGHDXGHFRPPDQGH pFODLUDJHEODQFFKDXG
G
LQVWDOODWLRQSRXUPRQWDJH 5pJODJH(FUDQ7)7VHQVLWLI 9ROXPHQHWOLWUHV
6LGHE\6LGH $IILFKDJHWH[WHFODLU
1
HVWSDVQpFHVVDLUHVLO
HVSDFHHQWUH )DEULTXHGHJODFH
OHVDSSDUHLOVHVWVXSpULHXUjPP &DUDFWpULVWLTXHVWHFKQLTXHV ,QWpJUpHGDQVOHFRPSDUWLPHQW
/LYUpGHVpULHDYHFOHV5)HW5: 5pSDUWLWLRQG\QDPLTXHGXIURLG FRQJpODWHXUUDFFRUGHPHQWGLUHFW
5$ ࡱ 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ jO
HDX
)HXLOOHWKHUPLTXH9 ࡱ+7 6\VWqPHGHIHUPHWXUHGHSRUWHDPRUWLH )LOWUHjSDUWLFXOHVSRXUO
DUULYpHG
HDX
1pFHVVDLUHVLODGLVWDQFHHQWUHOHV )LOWUHjDLUjFKDUERQDFWLI LQWpJUpGDQVODJULOOHGHYHQWLODWLRQ
DSSDUHLOVLQVWDOOpVF{WHjF{WHHVW 0RGH5HSRVFHUWLILp6WDU. ,QGLFDWHXUGHVDWXUDWLRQGDQVO
pFUDQ
FRPSULVHHQWUHPPHWPPDLQVL /RUVGHO
DFWLYDWLRQGXPRGH5HSRVOD 7)7VHQVLWLI
TXHGDQVWRXWHVOHVFRQILJXUDWLRQV SRUWHHWOHWLURLUGHO
DSSDUHLOSHXYHQW $UUrWVpSDUpGHODIDEULTXHGHJODFH
G
LQVWDOODWLRQGDQVXQHQYLURQQHPHQW XQLTXHPHQWrWUHRXYHUWVDYHFXQH 3URGXFWLRQGHJODoRQVHQYLURQ
KXPLGH SRLJQpHVLWXpHVXUO
KDELOODJHGHSRUWH NJK
1
HVWSDVQpFHVVDLUHVLOHVDSSDUHLOV $ODUPHHQFDVGHSRUWHRXYHUWHRXGH %DFjJODoRQVDPRYLEOHSRXUXQH
VRQWVpSDUpVG
DXPRLQVPP G\VIRQFWLRQQHPHQW UpVHUYHG
HQYLURQNJ
$FFHVVRLUHVG
LQVWDOODWLRQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV &RQVRPPDWLRQV
5$ ࡱ PRGH'LJLWDO+RPH&RQQHFW &ODVVHG
HIILFDFLWppQHUJpWLTXH)
3RUWHVHQLQR[ ࡱ+7 /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH VXUXQHpFKHOOHGH$j*
DYHFSRLJQpHV &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp &RQVRPPDWLRQG
pQHUJLHN:KDQ
3RXU5< GHVVHUYLFHV+RPH&RQQHFWGDQVOH 1LYHDXVRQRUH'%UHS:
pSDLVVHXUKDELOODJHPP SD\VUHVSHFWLI/HVVHUYLFHV+RPH
5$ ࡱ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV &RQVHLOVG
LQVWDOODWLRQ
%DJXHWWHVODWpUDOHV ࡱ+7 WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU &KDUQLqUHSDQWRJUDSKH
GHUHFRXYUHPHQWHQSDUWLHV ZZZKRPHFRQQHFWFRP $QJOHG
RXYHUWXUHGHSRUWH
SRXU5<HW5% SHXWrWUHEORTXpj
5$ ࡱ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV 3RLGVPD[LGHODSRUWHG
KDELOODJH
3RLJQpHORQJXHLQR[ ࡱ+7 SDJHVj 3RUWHVNJFKDFXQH7LURLUNJ
DYHFIL[DWLRQVORQJXHXUPP 9DQQHG
DUUrWGXUDFFRUGHPHQWjO
HDX
LQWHUYDOOHGHSHUoDJHPP 5pIULJpUDWHXU GRLWrWUHSODFpHjF{WpGHO
DSSDUHLOHW
5$ ࡱ 6\VWqPH1R)URVWDYHF6XSHU UHVWHUDFFHVVLEOH
3RLJQpHFRXUWHLQR[ ࡱ+7 5pIULJpUDWLRQ 6LODSUHVVLRQGHO
HDXHVWVXSpULHXUHj
3RXU5%5< 7HPSpUDWXUHUpJODEOHGH& 03DEDULQVWDOOHUXQHVRXSDSH
$YHFIL[DWLRQVORQJXHXUPP j& GHOLPLWDWLRQGHSUHVVLRQHQWUHOH
LQWHUYDOOHGHSHUoDJHPP WDEOHWWHHQYHUUHGHVpFXULWpYHUUH URELQHWG
DUULYpHG
HDXHWOHWX\DX
5$ ࡱ EODQFUpJODEOHHQKDXWHXU
3RUWHVLQR[ ࡱ+7 WDEOHWWHHQYHUUHGHVpFXULWp 9DOHXUVGHUDFFRUGHPHQW
VDQVSRLJQpHV GLYLVpHDV\PpWULTXHPHQWUpJODEOH 3XLVVDQFHWRWDOHDEVRUEpHN:
3RXU5< PDQXHOOHPHQW &kEOHGHUDFFRUGHPHQWPDYHF
pSDLVVHXUKDELOODJHPP WDEOHWWHLQWpJUpHHQYHUUHILQLWLRQ SULVH
VDWLQpH 5DFFRUGHPHQWjO
HDX
6SRWV/('EULOODQWVpFODLUDJHEODQF 7X\DXG
DUULYpHG
HDXPDYHF
FKDXGDQWLpEORXLVVHPHQWGDQVSDUWLH FRQQH[LRQ
UpIULJpUDWLRQHWWLURLUGHFRQJpODWLRQ 3UHVVLRQG
HDXGHj%DU
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
Combiné Réfrigérateur-Congélateur RA 425 710 146 € 3 compartiments réglables en
Vario Série 400 Poignée courte, inox (121,67 € HT) hauteur dans la contre-porte,
RB 492 /RB 472 Pour RB 472, avec 2 fixations, longueur dont 1 particulièrement profond.
658 mm, intervalle de perçage 637 mm. Volume net total de toute la Zone
– Intérieur tout inox avec éléments RA 425 910 160 € Réfrigération : 389/316 litres.
de rangement en Aluminium massif Poignée courte, inox (133,33 € HT)
Anthracite Pour RB/RY 492 Zone fraîcheur proche de 0°C
– Eclairage blanc chaud grâce aux Avec 2 fixations, longueur 810 mm, 1 tiroir fraîcheur proche de 0°C
Spots LED anti-éblouissement intervalle de perçage 787 mm. totalement extractible avec façade
– Ouverture de porte assistée: RA 428 712 1.365 € transparente, éclairé.
1. Fonction Push-to-open pour les Portes inox, (1.137,50 € HT) Système de fermeture amortie.
habillages de porte sans poignée sans poignées Température réglable manuellement.
2. Fonction Pull-to-open pour Pour RB 472, épaisseur habillage Idéal pour viande, poisson et volaille.
faciliter l'ouverture des portes 19 mm.
d'habillage avec poignée. RA 428 910 1.550 € Zone fraîcheur
– Contre-porte plane en inox, sur Portes inox, (1.291,67 € HT) 1 tiroir fraîcheur totalement extractible
toute la surface sans poignées avec façade transparente, éclairé.
– Système de rails presque invisible, Pour RB 492, Système de fermeture amortie.
▾Nouveau pour un positionnemment flexible épaisseur habillage 19 mm. Réglage manuel de l'humidité.
RB 492 305▾ 10.890 € des étagères et balconnets de la RA 460 030 127 € Idéal pour fruits et légumes.
Zone fraîcheur proche (9.075,00 € HT) contre-porte Baguettes de (105,83 € HT)
de 0°C – Balconnets de la contre-porte en connexion verticales pour 2 x 2 Congélateur
Tout intégrable Aluminium massif Anthracite panneaux d'habillage pour combiné Technologie No-Frost avec Super
Home Connect – Un tiroir fraîcheur proche de RB/RY 492 (pour une esthétique Congélation jusqu'à -30°C.
Largeur de la niche 91.4 cm, 0°C avec réglage manuel de la visuelle parfaite). Température réglable de -14°C à -24°C.
Hauteur de la niche 213.4 cm température et un tiroir fraîcheur RA 464 913▾ 340 € Compartiment congélateur 4 étoiles.
Zone réfrigération avec 1 seule porte avec réglage manuel de l'humidité Grille de ventilation (283,33 € HT) Capacité de congélation 14 kg en 24 h.
et zone congélation avec tiroir – Fabrique de glace intégrée avec inox pour RB/RY492. Autonomie de 13 h en cas de coupure
coulissant entièrement extractible raccordement direct à l'eau RA 464 713▾ 295 € de courant.
RB 472 305▾ 10.180 € – Tiroir de congélation totalement Grille de ventilation (245,83 € HT) 2 tiroirs coulissants sortie totale.
Zone fraîcheur proche (8.483,33 € HT) extractible avec séparation pratique inox pour RB472 Eclairage intérieur par 2 Sports LED,
de 0°C en Anthracite éclairage blanc chaud.
Tout intégrable – Ecran TFT sensitif Accessoires en option Volume net 166/136 litres.
Home Connect – Volume net total 555/452 litres RA 430 100 42 €
Largeur de la niche 76.2 cm, Boîte de conservation (35,00 € HT) Fabrique de glace
Hauteur de la niche 213.4 cm Bandeau de commande avec couvercle transparent, anthracite. Intégrée dans le compartiment
Zone réfrigération avec 1 seule porte Réglage Ecran TFT sensitif. RA 450 012 105 € congélateur, raccordement direct à
et zone congélation avec tiroir Affichage texte clair. Filtre à eau pour (87,50 € HT) l'eau.
coulissant entièrement extractible système de filtration intégrée Filtre à particules pour l'arrivée d'eau,
Caractéristiques techniques avec indicateur de saturation. intégré dans la grille de ventilation.
Le prix comprend Répartition dynamique du froid. Pour RB, RY, RF. Indicateur de saturation dans l'écran
1 casier à oeufs avec couvercle Dégivrage automatique par évaporation. Pour RF 4*1 **4 & RF 463 **4/5 TFT sensitif.
1 pelle à glaçons Système de fermeture de porte amortie. à partir de FD 9007. Arrêt séparé de la fabrique de glace.
Filtre à air à charbon actif. Production de glaçons, environ
Accessoires d'installation requis Mode Repos, certifié Star-K. 1,6/1,7 kg/24 h.
RA 460 000 160 € Lors de l'activation du mode Repos, Bac à glaçons amovible pour une
Accessoire (133,33 € HT) la porte et le tiroir de l'appareil peuvent réserve d'environ 3/3 kg.
d'installation pour montage uniquement être ouverts avec une
"Side-by-Side". poignée située sur l'habillage de porte. Consommations
N'est pas nécessaire si l'espace entre Alarme en cas de porte ouverte ou de Classe d'efficacité énergétique E sur
les appareils est supérieur à 160 mm. dysfonctionnement. une échelle de A à G.
Livré de série avec les RF et RW. Consommation d'énergie
RA 460 013 360 € Module WIFI intégré pour les services 326/295 kWh/an.
Feuille thermique 230V. (300,00 € HT) mode Digital (Home Connect). Niveau sonore 42 dB (re 1 pW).
Nécessaire si la distance entre les La disponibilité de la fonction Home
appareils installés côte à côte est Connect dépend de la fonctionnalité Conseils d'installation
comprise entre 16 mm et 160 mm, ainsi des services Home Connect dans le Charnière pantographe.
que dans toutes les configurations pays respectif. Les services Home Charnières à droite, réversibles.
d'installation dans un environnement Connect ne sont pas disponibles dans Angle d'ouverture de porte 115°,
humide. tous les pays. Plus d'informations sur: peut être bloqué à 90°.
N'est pas nécessaire si les appareils www.home-connect.com. Poids maxi. de l'habillage de porte:
sont séparés d'au moins 160 mm. Porte 47/41 kg.
Conseils d'installation complémentaires Tiroir 10/10 kg.
Accessoires d'installation pages 318 à 325. Vanne d'arrêt du raccordement à l'eau
RA 421 712 1.370 € doit être placée à côté de l'appareil et
Portes en inox (1.141,67 € HT) Réfrigérateur rester accessible.
avec poignées Système No-Frost avec Super Si la pression de l'eau est supérieure à
Pour RB 472, épaisseur habillage Réfrigération. 0,8 MPa (8 bar), installer une soupape
19 mm. Température réglable de +2°C de limitation de pression entre le
RA 421 910 1.555 € à +8°C. robinet d'arrivée d'eau et le tuyau.
Portes en inox (1.295,83 € HT) 2 tablettes en verre de sécurité, verre
avec poignées blanc, réglable en hauteur. Valeurs de raccordement
Pour RB 492, 1 tablette intégrée en verre finition Puissance totale absorbée :
épaisseur habillage 19 mm. satinée. 0,300/0,300 kW.
RA 423 340 43 € 4 Spots LED brillants, éclairage blanc Câble de raccordement 3.0 m avec
Baguettes latérales (35,83 € HT) chaud anti-éblouissement, dans partie prise.
de recouvrement, en 2 parties, réfrigération et tiroir de congélation. Raccordement à l'eau.
pour RY et RB. Contre-porte plane en inox Tuyau d'arrivée d'eau 2.0 m avec
RA 425 110 180 € avec système de rails pour un connexion 3/4 ".
Poignée longue, inox (150,00 € HT) positionnement totalement flexible des Pression d'eau de 2 à 8 Bar.
avec 3 fixations, longueur 1131 mm, balconnets de contre-porte.
intervalle de perçage 554 mm.
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
5pIULJpUDWHXU9DULR6pULH 5$ ࡱ &RQWUHSRUWHSODQHHQLQR[
5& 5& 5& %DJXHWWHVODWpUDOHVGH ࡱ+7 DYHFV\VWqPHGHUDLOVSRXUXQ
UHFRXYUHPHQWORQJXHV SRVLWLRQQHPHQWWRWDOHPHQWIOH[LEOHGHV
² ,QWpULHXUWRXWLQR[DYHFpOpPHQWV 5$ ࡱ EDOFRQQHWVGHFRQWUHSRUWH
GHUDQJHPHQWHQ$OXPLQLXPPDVVLI 3RLJQpHORQJXHLQR[ ࡱ+7 FRPSDUWLPHQWVUpJODEOHVHQ
$QWKUDFLWH $YHFIL[DWLRQVORQJXHXUPP KDXWHXUGDQVODFRQWUHSRUWHGRQW
² (FODLUDJHEODQFFKDXGJUkFHDX[ LQWHUYDOOHGHSHUoDJHPP SDUWLFXOLqUHPHQWSURIRQG
6SRWV/('DQWLpEORXLVVHPHQW 5$ ࡱ 9ROXPHXWLOHOLWUHV
² 2XYHUWXUHGHSRUWHDVVLVWpH 3RUWHHQLQR[ ࡱ+7
)RQFWLRQ3XVKWRRSHQSRXUOHV VDQVSRLJQpH =RQHIUDvFKHXU&
KDELOODJHVGHSRUWHVDQVSRLJQpH 3RXUDSSDUHLOODUJHXUFP JUDQGWLURLU)UDvFKHXUSURFKHGH&
)RQFWLRQ3XOOWRRSHQSRXU pSDLVVHXUKDELOODJHPP WRWDOHPHQWH[WUDFWLEOHDYHFIDoDGH
IDFLOLWHUO
RXYHUWXUHGHVSRUWHV 5$ ࡱ WUDQVSDUHQWHHWpFODLUDJH
G
KDELOODJHDYHFSRLJQpH 3RUWHHQLQR[ ࡱ+7 6\VWqPHGHIHUPHWXUHDPRUWLH
² /HVWLURLUVGHV5&HW5)VRQW VDQVSRLJQpH &RQWU{OHGHODWHPSpUDWXUHYLDO
pFUDQ
SODFpVjODPrPHKDXWHXU(QFDV 3RXUDSSDUHLOODUJHXUFP 7)7FHQWUDOUpJODJHGHODWHPSpUDWXUH
G
LQVWDOODWLRQHQ6LGHE\6LGHOHV pSDLVVHXUKDELOODJHPP GH&j&
WDEOHWWHVHQYHUUHHWOHVEDOFRQQHWV 5$ ࡱ ,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
೦1RXYHDX GHFRQWUHSRUWHSHXYHQWrWUHSODFpV 3RUWHHQLQR[ ࡱ+7 9ROXPHXWLOHOLWUHV
5& ೦ ࡱ DXPrPHQLYHDXSRXUXQ VDQVSRLJQpH
$YHF]RQHIUDvFKHXU ࡱ+7 DOLJQHPHQWSDUIDLW 3RXUDSSDUHLOODUJHXUFP =RQHIUDvFKHXU
SURFKHGH& ² &RQWUHSRUWHSODQHHQLQR[VXU pSDLVVHXUKDELOODJHPP WLURLUIUDvFKHXUWRWDOHPHQWH[WUDFWLEOH
7RXWLQWpJUDEOH WRXWHODVXUIDFH 5$ ࡱ DYHFIDoDGHWUDQVSDUHQWHpFODLUp
+RPH&RQQHFW ² 6\VWqPHGHUDLOVSUHVTXHLQYLVLEOH %DJXHWWHGH ࡱ+7 6\VWqPHGHIHUPHWXUHDPRUWLH
/DUJHXUGHODQLFKHFP SRXUXQSRVLWLRQQHPPHQWIOH[LEOH FRQQH[LRQYHUWLFDOHSRXUSDQQHDX[ 5pJODJHPDQXHOGHO
KXPLGLWp
+DXWHXUGHODQLFKHFP GHVpWDJqUHVHWEDOFRQQHWVGHOD G
KDELOODJHSRXUXQHV\PpWULHYLVXHOOH ,GpDOSRXUIUXLWVHWOpJXPHV
5& ೦ ࡱ FRQWUHSRUWH SDUIDLWH
$YHF]RQHIUDvFKHXU ࡱ+7 ² %DOFRQQHWVGHODFRQWUHSRUWHHQ 5$ ࡱ &RQVRPPDWLRQV
SURFKHGH& $OXPLQLXPPDVVLI$QWKUDFLWH *ULOOHGHYHQWLODWLRQ ࡱ+7 &ODVVHG
HIILFDFLWppQHUJpWLTXH(VXU
7RXWLQWpJUDEOH ² WLURLU)UDvFKHXUSURFKHGH& LQR[ XQHpFKHOOHGH$j*
+RPH&RQQHFW DYHFUpJODJHGHODWHPSpUDWXUHGH 3RXUDSSDUHLOODUJHXUFP &RQVRPPDWLRQG
pQHUJLH
/DUJHXUGHODQLFKHFP &j&HWWLURLU)UDvFKHXU 5$ ࡱ N:KDQ
+DXWHXUGHODQLFKHFP DYHFUpJODJHPDQXHOGHO
KXPLGLWp *ULOOHGHYHQWLODWLRQ ࡱ+7 1LYHDXVRQRUH'%UHS:
5& ೦ ࡱ ² (FUDQ7)7VHQVLWLI LQR[
$YHF]RQHIUDvFKHXU ࡱ+7 ² 9ROXPHXWLOHWRWDOOLWUHV 3RXUDSSDUHLOODUJHXUFP &RQVHLOVG
LQVWDOODWLRQ
SURFKHGH& 5$ ࡱ &KDUQLqUHSDQWRJUDSKH
7RXWLQWpJUDEOH %DQGHDXGHFRPPDQGH *ULOOHGHYHQWLODWLRQ ࡱ+7 &KDUQLqUHVjGURLWHUpYHUVLEOHV
+RPH&RQQHFW 5pJODJH(FUDQ7)7VHQVLWLI LQR[ $QJOHG
RXYHUWXUHGHSRUWH
/DUJHXUGHODQLFKHFP $IILFKDJHWH[WHFODLU 3RXUDSSDUHLOODUJHXUFP SHXWrWUHEORTXpj
+DXWHXUGHODQLFKHFP 3RLGVPD[GXSDQQHDXGHSRUWH
&DUDFWpULVWLTXHVWHFKQLTXHV $FFHVVRLUHVHQRSWLRQ NJ
/HSUL[FRPSUHQG 5pSDUWLWLRQG\QDPLTXHGXIURLG 5$ ࡱ
FDVLHUjRHXIVDYHFFRXYHUFOH 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ %RvWHGHFRQVHUYDWLRQ ࡱ+7 9DOHXUVGHUDFFRUGHPHQW
6\VWqPHGHIHUPHWXUHGHSRUWHDPRUWLH DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH 3XLVVDQFHWRWDOHDEVRUEpHN:
$FFHVVRLUHVG
LQVWDOODWLRQUHTXLV )LOWUHjDLUjFKDUERQDFWLI &kEOHGHUDFFRUGHPHQWPDYHF
5$ ࡱ 0RGH5HSRVFHUWLILp6WDU. SULVH
$FFHVVRLUH ࡱ+7 /RUVGHO
DFWLYDWLRQGXPRGH5HSRVOD
G
LQVWDOODWLRQSRXUPRQWDJH SRUWHHWOHWLURLUGHO
DSSDUHLOSHXYHQW
6LGHE\6LGH XQLTXHPHQWrWUHRXYHUWVDYHFXQH
1
HVWSDVQpFHVVDLUHVLO
HVSDFHHQWUH SRLJQpHVLWXpHVXUO
KDELOODJHGHSRUWH
OHVDSSDUHLOVHVWVXSpULHXUjPP $ODUPHHQFDVGHSRUWHRXYHUWHRXGH
/LYUpGHVpULHDYHFOHV5)HW5: G\VIRQFWLRQQHPHQW
5$ ࡱ
)HXLOOHWKHUPLTXH9 ࡱ+7 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
1pFHVVDLUHVLODGLVWDQFHHQWUHOHV PRGH'LJLWDO+RPH&RQQHFW
DSSDUHLOVLQVWDOOpVF{WHjF{WHHVW /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
FRPSULVHHQWUHPPHWPPDLQVL &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
TXHGDQVWRXWHVOHVFRQILJXUDWLRQV GHVVHUYLFHV+RPH&RQQHFWGDQVOH
G
LQVWDOODWLRQGDQVXQHQYLURQQHPHQW SD\VUHVSHFWLI/HVVHUYLFHV+RPH
KXPLGH &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
1
HVWSDVQpFHVVDLUHVLOHVDSSDUHLOV WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
VRQWVpSDUpVG
DXPRLQVPP ZZZKRPHFRQQHFWFRP
$FFHVVRLUHVG
LQVWDOODWLRQ &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
5$ ࡱ SDJHVj
3RUWHLQR[ ࡱ+7
DYHFSRLJQpH 5pIULJpUDWHXU
3RXUDSSDUHLOODUJHXUFP 6XSHU5pIULJpUDWLRQ
pSDLVVHXUKDELOODJHPP 7HPSpUDWXUHUpJODEOHGH&j
5$ ࡱ &
3RUWHLQR[ ࡱ+7 WDEOHWWHVHQYHUUHGHVpFXULWpYHUUH
DYHFSRLJQpH EODQFUpJODEOHHQKDXWHXU
3RXUDSSDUHLOODUJHXUFP WLURLUEDVWRWDOHPHQWH[WUDFWLEOHDYHF
pSDLVVHXUKDELOODJHPP IDoDGHWUDQVSDUHQWH
5$ ࡱ WDEOHWWHLQWpJUpHHQYHUUHILQLWLRQ
3RUWHLQR[ ࡱ+7 VDWLQpH
DYHFSRLJQpH 6\VWqPHGHIHUPHWXUHDPRUWLH
3RXUDSSDUHLOODUJHXUFP 6SRWV/('EULOODQWVpFODLUDJHEODQF
pSDLVVHXUKDELOODJHPP FKDXGDQWLpEORXLVVHPHQWGDQVSDUWLH
UpIULJpUDWLRQHWWLURLUGHFRQJpODWLRQ
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHVVXUXQHIHQWHGHPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQJpODWHXU9DULR6pULH 5$ ࡱ WLURLUVDYHFIDoDGHWUDQVSDUHQWH
5) 5) 5) 3RUWHHQLQR[ ࡱ+7 HQWLqUHPHQWH[WUDFWLEOHV
VDQVSRLJQpH (FODLUDJHEULOODQW6SRWV/('EODQF
² ,QWpULHXUWRXWLQR[DYHFpOpPHQWV 3RXUDSSDUHLOODUJHXUFP FKDXGDQWLpEORXLVVHPHQW
GHUDQJHPHQWHQ$OXPLQLXPPDVVLI pSDLVVHXUKDELOODJHPP &RQWUHSRUWHSODQHHQLQR[
$QWKUDFLWH 5$ ࡱ DYHFV\VWqPHGHUDLOVSRXUXQ
² (FODLUDJHEODQFFKDXGJUkFHDX[ 3RUWHHQLQR[ ࡱ+7 SRVLWLRQQHPHQWWRWDOHPHQWIOH[LEOHGHV
6SRWV/('DQWLpEORXLVVHPHQW VDQVSRLJQpH EDOFRQQHWVGHFRQWUHSRUWH
² 2XYHUWXUHGHSRUWHDVVLVWpH 3RXUDSSDUHLOODUJHXUFP EDOFRQQHWVGHFRQWUHSRUWHUpJODEOHV
)RQFWLRQ3XVKWRRSHQSRXUOHV pSDLVVHXUKDELOODJHPP HQKDXWHXU
KDELOODJHVGHSRUWHVDQVSRLJQpH 5$ ࡱ
)RQFWLRQ3XOOWRRSHQSRXU 3RUWHHQLQR[ ࡱ+7 )DEULTXHGHJODFH
IDFLOLWHUO
RXYHUWXUHGHVSRUWHV VDQVSRLJQpH ,QWpJUpHGDQVOHFRPSDUWLPHQW
G
KDELOODJHDYHFSRLJQpH 3RXUDSSDUHLOODUJHXUFP FRQJpODWHXUUDFFRUGHPHQWGLUHFWjO
HDX
² /HVWLURLUVGHV5&HW5)VRQW pSDLVVHXUKDELOODJHPP )LOWUHjSDUWLFXOHVSRXUO
DUULYpHG
HDX
SODFpVjODPrPHKDXWHXU(QFDV 5$ ࡱ LQWpJUpGDQVODJULOOHGHYHQWLODWLRQ
G
LQVWDOODWLRQHQ6LGHE\6LGHOHV %DJXHWWHGH ࡱ+7 ,QGLFDWHXUGHVDWXUDWLRQGDQVO
pFUDQ
WDEOHWWHVHQYHUUHHWOHVEDOFRQQHWV FRQQH[LRQYHUWLFDOHSRXUSDQQHDX[ 7)7VHQVLWLI
೦1RXYHDX GHFRQWUHSRUWHSHXYHQWrWUHSODFpV G
KDELOODJHSRXUXQHV\PpWULHYLVXHOOH $UUrWVpSDUpGHODIDEULTXHGHJODFH
5) ೦ ࡱ DXPrPHQLYHDXSRXUXQDOLJQHPHQW SDUIDLWH 3URGXFWLRQGHJODoRQVHQYLURQ
7RXWLQWpJUDEOH ࡱ+7 SDUIDLW 5$ ೦ ࡱ NJHQK
$YHFIDEULTXHGHJODoRQV ² 0DWpULDX[HWHVWKpWLTXHGH *ULOOHGHYHQWLODWLRQ ࡱ+7 %DFjJODoRQVDPRYLEOHSRXUXQH
+RPH&RQQHFW O
DPpQDJHPHQWLQWpULHXULGHQWLTXHV LQR[ UpVHUYHG
HQYLURQNJ
/DUJHXUGHODQLFKHFP DX5& 3RXU5)
jSDUWLUGH)'
+DXWHXUGHODQLFKHFP ² EDOFRQQHWVGHFRQWUHSRUWHHQ HWSRXU5)
&RQVRPPDWLRQV
5) ೦ ࡱ $OXPLQLXPPDVVLI$QWKUDFLWH 5$ ೦ ࡱ &ODVVHG
HIILFDFLWppQHUJpWLTXH)SRXU
7RXWLQWpJUDEOH ࡱ+7 ² pWDJqUHVHQYHUUH *ULOOHGHYHQWLODWLRQ ࡱ+7 XQHFODVVLILFDWLRQGH$j*
$YHFIDEULTXHGHJODoRQV ² &RQWUHSRUWHSODQHHQLQR[VXU LQR[ &RQVRPPDWLRQG
pQHUJLH
+RPH&RQQHFW WRXWHODVXUIDFH 3RXU5)
jSDUWLUGH)'HW N:KDQ
/DUJHXUGHODQLFKHFP ² 6\VWqPHGHUDLOVSUHVTXHLQYLVLEOH SRXU5)
1LYHDXVRQRUHG%UHS:
+DXWHXUGHODQLFKHFP SRXUXQSRVLWLRQQHPPHQWIOH[LEOH 5$ ೦ ࡱ
5) ೦ ࡱ GHVpWDJqUHVHWEDOFRQQHWVGHOD *ULOOHGHYHQWLODWLRQ ࡱ+7 &RQVHLOVG
LQVWDOODWLRQ
7RXWLQWpJUDEOH ࡱ+7 FRQWUHSRUWH LQR[ &KDUQLqUHSDQWRJUDSKH
$YHFIDEULTXHGHJODoRQV ² )DEULTXHGHJODFHLQWpJUpHDYHF 3RXU5)
jSDUWLUGH)'HW &KDUQLqUHVjJDXFKHUpYHUVLEOHV
+RPH&RQQHFW UDFFRUGHPHQWGLUHFWjO
HDX SRXU5)
$QJOHG
RXYHUWXUHGHSRUWH
/DUJHXUGHODQLFKHFP ² (FUDQ7)7VHQVLWLI SHXWrWUHEORTXpj
+DXWHXUGHODQLFKHFP ² 9ROXPHXWLOHWRWDOOLWUHV $FFHVVRLUHVHQRSWLRQ /RUVG
XQHLQWpJUDWLRQGHO
DSSDUHLO
5$ ࡱ DYHFXQDQJOHG
RXYHUWXUHGHSRUWH
/HSUL[FRPSUHQG %DQGHDXGHFRPPDQGH )LOWUHjHDXSRXU ࡱ+7 EORTXpjO
DFFqVDX[WLURLUVHVW
SHOOHjJODoRQV 5pJODJH(FUDQ7)7VHQVLWLI V\VWqPHGHILOWUDWLRQLQWpJUpH UHVWUHLQWHWLOHVWQpFHVVDLUHGH
5$ $IILFKDJHWH[WHFODLU DYHFLQGLFDWHXUGHVDWXUDWLRQ UHPSODFHUOHEDFjJODoRQVOLYUpGH
$FFHVVRLUHG
LQVWDOODWLRQSRXU 3RXU5%5<5) VpULHSDUXQPRGqOHGHEDFjJODoRQV
PRQWDJH6LGHE\6LGH &DUDFWpULVWLTXHVWHFKQLTXHV 3RXU5)
5)
SOXVSHWLW5$/HUHPSODFH
5pSDUWLWLRQG\QDPLTXHGXIURLG jSDUWLUGH)' PHQWGRLWrWUHHIIHFWXpDYDQWOH
$FFHVVRLUHVG
LQVWDOODWLRQUHTXLV 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ EORFDJHGHODSRUWHj
5$ ࡱ 6\VWqPHGHIHUPHWXUHGHSRUWHDPRUWLH 3RLGVPD[GXSDQQHDXGHSRUWHNJ
)HXLOOHWKHUPLTXH9 ࡱ+7 0RGH5HSRVFHUWLILp6WDU. 9DQQHG
DUUrWGXUDFFRUGHPHQWjO
HDX
1pFHVVDLUHVLODGLVWDQFHHQWUHOHV /RUVGHO
DFWLYDWLRQGXPRGH5HSRVOD GRLWrWUHSODFpHjF{WpGHO
DSSDUHLOHW
DSSDUHLOVLQVWDOOpVF{WHjF{WHHVW SRUWHHWOHWLURLUGHO
DSSDUHLOSHXYHQW UHVWHUDFFHVVLEOH
FRPSULVHHQWUHPPHWPPDLQVL XQLTXHPHQWrWUHRXYHUWVDYHFXQH 6LODSUHVVLRQGHO
HDXHVWVXSpULHXUHj
TXHGDQVWRXWHVOHVFRQILJXUDWLRQV SRLJQpHVLWXpHVXUO
KDELOODJHGHSRUWH 03DEDULQVWDOOHUXQHVRXSDSH
G
LQVWDOODWLRQGDQVXQHQYLURQQHPHQW $ODUPHHQFDVGHSRUWHRXYHUWHRXGH GHOLPLWDWLRQGHSUHVVLRQHQWUHOH
KXPLGH G\VIRQFWLRQQHPHQW URELQHWG
DUULYpHG
HDXHWOHWX\DX
1
HVWSDVQpFHVVDLUHVLOHVDSSDUHLOV
VRQWVpSDUpVG
DXPRLQVPP 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV 9DOHXUVGHUDFFRUGHPHQW
PRGH'LJLWDO+RPH&RQQHFW 3XLVVDQFHWRWDOHDEVRUEpHN:
$FFHVVRLUHVG
LQVWDOODWLRQ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH &kEOHGHUDFFRUGHPHQWPDYHFSULVH
5$ ࡱ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp 5DFFRUGHPHQWjO
HDX
3RUWHLQR[ ࡱ+7 GHVVHUYLFHV+RPH&RQQHFWGDQVOH 7X\DXG
DUULYpHG
HDXPDYHF
DYHFSRLJQpH SD\VUHVSHFWLI/HVVHUYLFHV+RPH FRQQH[LRQ
3RXUDSSDUHLOODUJHXUFP &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV 3UHVVLRQG
HDXGHj%DU
pSDLVVHXUKDELOODJHPP WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
5$ ࡱ ZZZKRPHFRQQHFWFRP
3RUWHLQR[ ࡱ+7
DYHFSRLJQpH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
3RXUDSSDUHLOODUJHXUFP SDJHVj
pSDLVVHXUKDELOODJHPP
5$ ࡱ &RQJpODWHXU
3RUWHLQR[ ࡱ+7 7HFKQRORJLH1R)URVWDYHF6XSHU
DYHFSRLJQpH &RQJpODWLRQMXVTX
j&
3RXUDSSDUHLOODUJHXUFP 7HPSpUDWXUHUpJODEOHGH&j&
pSDLVVHXUKDELOODJHPP &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
5$ ࡱ &DSDFLWpGHFRQJpODWLRQNJ
%DJXHWWHVODWpUDOHVGH ࡱ+7 HQK
UHFRXYUHPHQWORQJXHV $XWRQRPLHGHKHQFDVGH
5$ ࡱ FRXSXUHGHFRXUDQW
3RLJQpHORQJXHLQR[ ࡱ+7 WDEOHWWHVHQYHUUHGHVpFXULWpYHUUH
$YHFIL[DWLRQVORQJXHXUPP EODQFGRQWUpJODEOHVHQKDXWHXU
LQWHUYDOOHGHSHUoDJHPP LQGLYLGXHOOHPHQW
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJH
VRQWEDVpHVVXUXQHIHQWHGHPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
Appareils de froid 313
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
5DQJHPHQWGHVERXWHLOOHV
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
&DYHjYLQ9DULR6pULH 5$ ࡱ VFpQDULRVG
pFODLUDJHGLIIpUHQWV
5: 3RLJQpHORQJXHLQR[ ࡱ+7 SRXUXQHSUpVHQWDWLRQLQGLYLGXHOOHGHV
$YHFIL[DWLRQVORQJXHXUPP ERXWHLOOHVGHYLQ
² ]RQHVGHFOLPDWLVDWLRQDYHF LQWHUYDOOHGHSHUoDJHPP 9ROXPHQHWOLWUHV
FRQWU{OHVpSDUp 5$ ࡱ
² 7HPSpUDWXUHFRQVWDQWHDYHF 3RUWHHQLQR[VDQV ࡱ+7 &RQVRPPDWLRQV
UpJODJHSUpFLVGH&j& SRLJQpH &ODVVHG
HIILFDFLWppQHUJpWLTXH*)
² 7DX[G
KXPLGLWpUpJODEOH 3RXUDSSDUHLOODUJHXUFP VXUXQHpFKHOOHGH$j*
² ,QWpULHXULQR[ pSDLVVHXUKDELOODJHPP &RQVRPPDWLRQG
pQHUJLH
² &OD\HWWHVjERXWHLOOHVHQFKrQH 5$ ࡱ N:KDQ
HWDOXPLQLXPPDVVLI$QWKUDFLWH &DGUHGHSRUWHLQR[ ࡱ+7 1LYHDXVRQRUH'%UHS:
WRWDOHPHQWH[WUDFWLEOHV VDQVSRLJQpH
² 5DLOVWpOHVFRSLTXHVGHVFOD\HWWHV 3RXUDSSDUHLOODUJHXUFP &RQVHLOVG
LQVWDOODWLRQ
jERXWHLOOHVQRQYLVLEOHV pSDLVVHXUKDELOODJHPP &KDUQLqUHSDQWRJUDSKH
² (FODLUDJHEODQFFKDXGJUkFHDX[ 5$ ࡱ &KDUQLqUHVjGURLWHUpYHUVLEOHV
² 6SRWV/('DQWLpEORXLVVHPHQW %DJXHWWHGH ࡱ+7 $QJOHG
RXYHUWXUHGHSRUWHSHXW
² VFpQDULRVG
pFODLUDJHSUpUpJOpV FRQQH[LRQYHUWLFDOHSRXUSDQQHDX[ rWUHEORTXpj
jVpOHFWLRQQHUYLDO
pFUDQ7)7 G
KDELOODJHSRXUXQHV\PpWULHYLVXHOOH 3RLGVPD[GXSDQQHDXGHSRUWHNJ
² 2XYHUWXUHGHSRUWHDVVLVWpH SDUIDLWH /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
)RQFWLRQ3XVKWRRSHQSRXUOHV 5$ ࡱ ODQLFKH
೦1RXYHDX KDELOODJHVGHSRUWHVDQVSRLJQpH *ULOOHGHYHQWLODWLRQ ࡱ+7 3DVGHWUDQVSRUWXWLOLVDWLRQDXGHOjGH
5: ೦ ࡱ )RQFWLRQ3XOOWRRSHQSRXU LQR[ PG
DOWLWXGH
7RXWLQWpJUDEOH ࡱ+7 IDFLOLWHUO
RXYHUWXUHGHVSRUWHV 3RXUDSSDUHLOODUJHXUFP
+RPH&RQQHFW G
KDELOODJHDYHFSRLJQpH 9DOHXUVGHUDFFRUGHPHQW
3RUWHYLWUpH ² &RQGLWLRQVGHVWRFNDJHjWUqV $FFHVVRLUHVHQRSWLRQ 3XLVVDQFHWRWDOHDEVRUEpHN:
/DUJHXUGHODQLFKHFP IDLEOHVYLEUDWLRQV 5$ ࡱ &kEOHGHUDFFRUGHPHQWPDYHF
+DXWHXUGHODQLFKHFP ² (FUDQ7)7VHQVLWLI &DFKHVGH ࡱ+7 SULVH
5: ೦ ࡱ ² &DSDFLWpERXWHLOOHV UHFRXYUHPHQWSRXUHPSODFHPHQWV
7RXWLQWpJUDEOH ࡱ+7 GHYLVSLqFHV
+RPH&RQQHFW %DQGHDXGHFRPPDQGH 5$ ࡱ
3RUWHSOHLQH 5pJODJH(FUDQ7)7VHQVLWLI &OD\HWWHjERXWHLOOHV ࡱ+7
/DUJHXUGHODQLFKHFP $IILFKDJHWH[WHFODLU HQWLqUHPHQWH[WUDFWLEOHDYHFUDLOV
+DXWHXUGHODQLFKHFP WpOHVFRSLTXHVPDVTXpVHQFKrQHHW
&DUDFWpULVWLTXHVWHFKQLTXHV DOXPLQLXPPDVVLI$QWKUDFLWH
/HSUL[FRPSUHQG 5pSDUWLWLRQG\QDPLTXHGXIURLG 3RXUDSSDUHLOODUJHXUFP
SHOOHjJODoRQV 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ 5$ ࡱ
5$ 6\VWqPHGHIHUPHWXUHGHSRUWHDPRUWLH 3ODWHDXpWDJqUH ࡱ+7
$FFHVVRLUHG
LQVWDOODWLRQSRXU )LOWUHjDLUjFKDUERQDFWLI DPRYLEOHDYHFFDGUHHQFKrQH
PRQWDJH6LGHE\6LGH 3URWHFWLRQDQWL89 3RXUOHVFDUDIHVGpFDQWHXUVHW
0RGH5HSRVFHUWLILp6WDU. ERXWHLOOHVRXYHUWHV
$FFHVVRLUHVG
LQVWDOODWLRQUHTXLV /RUVGHO
DFWLYDWLRQGXPRGH5HSRVOD 3RXUDSSDUHLOODUJHXUFP
5$ ࡱ SRUWHHWOHWLURLUGHO
DSSDUHLOSHXYHQW 5$ ࡱ
)HXLOOHWKHUPLTXH9 ࡱ+7 XQLTXHPHQWrWUHRXYHUWVDYHFXQH 3UpVHQWRLUHQFKrQHHW ࡱ+7
1pFHVVDLUHSRXUOHVFRPELQDLVRQV SRLJQpHVLWXpHVXUO
KDELOODJHGHSRUWH DOXPLQLXPPDVVLI$QWKUDFLWHSRXUOD
G
DSSDUHLOVLQVWDOOpVVpSDUpPHQWDYHF $ODUPHHQFDVGHSRUWHRXYHUWHRXGH SUpVHQWDWLRQG
XQHERXWHLOOH
XQHGLVWDQFHFRPSULVHHQWUHPPHW G\VIRQFWLRQQHPHQW LQGLYLGXHOOHSLqFH
PPRXGDQVWRXWHVOHV 5$ ࡱ
FRQILJXUDWLRQVG
LQVWDOODWLRQGDQVXQ 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV 6XSSRUWHQFKrQH ࡱ+7
HQYLURQQHPHQWKXPLGH PRGH'LJLWDO+RPH&RQQHFW SRXUUDQJHPHQWGHERXWHLOOHVVXU
1
HVWSDVQpFHVVDLUHVLOHVDSSDUHLOV 5pJODJHGHVVFpQDULRVG
pFODLUDJHHW pWDJqUHGHVpSDUDWLRQGHV
VRQWVpSDUpVG
DXPRLQVPP GHVWHPSpUDWXUHVYLD+RPH&RQQHFW FRPSDUWLPHQWV
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH 3RXUDSSDUHLOVODUJHXUFP
$FFHVVRLUHVG
LQVWDOODWLRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
5$ ࡱ GHVVHUYLFHV+RPH&RQQHFWGDQVOH
6HUUXUHSRXU5: ࡱ+7 SD\VUHVSHFWLI/HVVHUYLFHV+RPH
HW5: &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
5$ ࡱ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
3RUWHLQR[ ࡱ+7 ZZZKRPHFRQQHFWFRP
DYHFSRLJQpH
3RXUDSSDUHLOODUJHXUFP &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
pSDLVVHXUKDELOODJHPP SDJHVj
5$ ࡱ
&DGUHGHSRUWHLQR[ ࡱ+7 &DUDFWpULVWLTXHV
DYHFSRLJQpH &DSDFLWpERXWHLOOHVERXWHLOOHV
3RXUDSSDUHLOODUJHXUFP VWDQGDUGGH/
FKDUQLqUHVjJDXFKHpSDLVVHXU FOD\HWWHVjERXWHLOOHV
KDELOODJHPP WRWDOHPHQWH[WUDFWLEOHVSRXUOH
5$ ࡱ VWRFNDJHGHERXWHLOOHV0DJQXP
&DGUHGHSRUWHLQR[ ࡱ+7 $PpQDJHPHQWLQWpULHXUIOH[LEOHSDUOH
DYHFSRLJQpH UDMRXWRXOHUHWUDLWGHFOD\HWWHVSRXU
3RXUDSSDUHLOODUJHXUFP ERXWHLOOHVWRWDOHPHQWH[WUDFWLEOHV
FKDUQLqUHVjGURLWHpSDLVVHXU 'DQVXQHFRQILJXUDWLRQVWDQGDUG
KDELOODJHPP FOD\HWWHVjERXWHLOOHVERXWHLOOHV
5$ ࡱ 0DJQXPSHXYHQWrWUHVWRFNpHVDX
%DJXHWWHVODWpUDOHV ࡱ+7 PD[LPXP
GHUHFRXYUHPHQWORQJXHV 0D[LPXPGHFOD\HWWHVjERXWHLOOHV
SRXUO
DPpQDJHPHQWLQWpULHXU
(FODLUDJHEULOODQW6SRWV/('
DQWLpEORXLVVHPHQW
EODQFFKDXGGDQV
FKDTXH]RQH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
5DQJHPHQWGHVERXWHLOOHV
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWEDVpHV
VXUXQHIHQWHGHPP
,QVWUXFWLRQVGHPRQWDJHHWDFFHVVRLUHVVXSSOpPHQWDLUHV²$SSDUHLOVGH)URLG9DULR6pULH
HVF{WpVGHODQLFKHGRLYHQWrWUHULJLGHVFDUOHVDSSDUHLOVGHIURLG9DULRGRLYHQW
/ &RPELQDLVRQG·DSSDUHLOVF{WHjF{WH
rWUHIL[pVGDQVODQLFKHDYHFXQHVpFXULWpDQWLEDVFXOHPHQWHQKDXWjO
DUULqUHHW 6LOHVDSSDUHLOVVRQWLQVWDOOpVGDQVXQHFRQILJXUDWLRQGHW\SH$%$SSDUHLO$
HQEDVVXUOHF{Wp FRQWUHDSSDUHLO%F{WpFKDUQLqUHVHWTXHODGLVWDQFHHQWUHOHVDSSDUHLOVHVW
LQIpULHXUHjPPO·DFFHVVRLUHVSpFLDOPRQWDJHF{WHjF{WH5$HVW
/HVDSSDUHLOVGHIURLG9DULRSHXYHQWrWUHLQVWDOOpVHQ6LGHE\6LGHDYHFOHV QpFHVVDLUH&HWDFFHVVRLUHG·LQVWDOODWLRQLQFOXWXQHIHXLOOHWKHUPLTXHODWpUDOHSRXU
SRLJQpHVDXPLOLHX'DQVFHFDVLOIDXGUDXWLOLVHUO·DFFHVVRLUHG·LQVWDOODWLRQ pYLWHUODIRUPDWLRQGHFRQGHQVDWLRQ
SRXU6LGHE\6LGH5$
6LODGLVWDQFHHQWUHOHVDSSDUHLOVHVWFRPSULVHHQWUHPPHWPPRXVL $ % &
O
HQYLURQQHPHQWHVWWUqVKXPLGHLOIDXWLQVWDOOHUO·DFFHVVRLUH)HXLOOHWKHUPLTXH
5$HQWUHOHVDSSDUHLOVSRXUpYLWHUODIRUPDWLRQGHFRQGHQVDWLRQ
3RXUODFRPELQDLVRQG·DSSDUHLOV©FKDUQLqUHVjF{WpGHSRLJQpHªLOIDXWXWLOLVHU
OD)HXLOOHWKHUPLTXH5$GDQVOHFDVG
XQHQYLURQQHPHQWKXPLGH&HW
DFFHVVRLUHQ·HVWSDVQpFHVVDLUHVLODGLVWDQFHHQWUHOHVDSSDUHLOVHVWVXSpULHXUH
jPP
/
DFFHVVRLUH)HXLOOHWKHUPLTXH5$QHQpFHVVLWHSDVG
HVSDFH
VXSSOpPHQWDLUHHWHVWGpMjLQFOXVGDQVOHVLQGLFDWLRQVGHGLPHQVLRQVGHODQLFKH
6LGHVDSSDUHLOVGHIURLG9DULRVRQWFRPELQpVF{WpVFKDUQLqUHVLOIDXW
REOLJDWRLUHPHQWSUpYRLUXQHFORLVRQULJLGHHQWUHOHVDSSDUHLOV
'DQVOHVFDVG·LPSRVVLELOLWpGHPLVHHQSODFHG·XQHFORLVRQULJLGHHWVLOHV
FRQWUDLQWHVG·XWLOLVDWLRQVRQWDFFHSWpHVSDVG·RXYHUWXUHVLPXOWDQpHGHVSRUWHV
GHVDSSDUHLOVLOHVWSRVVLEOHGHFRPELQHUGLUHFWHPHQWHQVHPEOHFHVDSSDUHLOV
HQXWLOLVDQWO
DFFHVVRLUH6LGHE\6LGH5$RXO·DFFHVVRLUH)HXLOOHWKHUPLTXH
5$HQFDVG
HQYLURQQHPHQWKXPLGH
(QFDVG
LQVWDOODWLRQG
XQDSSDUHLOGH)URLG9DULRVDQVSRLJQpHGLUHFWHPHQW
jF{WpG
XQ%2%0%6&0GHOD6pULHLOIDXWUHVSHFWHUXQHVSDFHODWpUDO ©6LGHE\6LGHª
PLQLPXQGHPPHQWUHOHVDSSDUHLOVVLODSRUWHGHO
DSSDUHLOGH)URLGV
RXYUHYHUV 6LOHVDSSDUHLOVVRQWLQVWDOOpVGDQVXQHFRQILJXUDWLRQGHW\SH%&
OH%2%0%6&0 ©VLGHE\VLGHª$SSDUHLO%FRQWUHDSSDUHLO&FKDUQLqUHVRSSRVpHV
(QFDVG·LQVWDOODWLRQG·XQDSSDUHLOGH)URLG9DULR6pULHjF{WpG·XQ%2%0%6 O·DFFHVVRLUHG·LQVWDOODWLRQVSpFLDO©VLGHE\VLGHª5$HVWQpFHVVDLUH
GHOD6pULHLOIDXWUHVSHFWHUXQHVSDFHODWpUDOGHPPVLODSRLJQpHGX
%2%0%6DMRXWpHHQDFFHVVRLUHVHVLWXHGXF{WpGHODFKDUQLqUHGHO·DSSDUHLO (FDUWPXUDO5%5<
)URLG9DULR3RXUXQHLQVWDOODWLRQLGHQWLTXHjF{WpG·XQIRXU%23%03%63
GHOD6pULHLOIDXWSUpYRLUXQHVSDFHODWpUDOGHPP
$QJOHG·RXYHUWXUHGHODSRUWH
3RXUDVVXUHUXQHERQQHSODQLILFDWLRQGHODFXLVLQHLOHVWQpFHVVDLUHGHSUHQGUHHQ
FRQVLGpUDWLRQO·DQJOHG·RXYHUWXUHGHODSRUWHGHO·DSSDUHLODYHFSRUWHG·KDELOODJH
PRQWpHHWSRLJQpH,OQHGRLWSDV\DYRLUGHSRVVLELOLWpGHFROOLVLRQDYHFG·DXWUHV
SDUWLHVGHVPHXEOHVSODQGHWUDYDLOSRLJQpHVGHVDXWUHVPHXEOHVHWF«RXSDUWLHV
GHODSLqFHPXUVVDLOOLHVHWF«
/·DQJOHG·RXYHUWXUHGHODFKDUQLqUHHWOHVGLVWDQFHVjUHVSHFWHUHQWUHOHVPHXEOHV
DGMDFHQWVHWODSRLJQpHGHODSRUWHGpSHQGHQWGHO·pSDLVVHXUGHO·KDELOODJHHW
SHXYHQWrWUHUHSULVGXVFKpPDFLGHVVRXV/HVFKpPDHVWpWDEOLjSDUWLUG·XQH
pSDLVVHXUGHSRUWHGHPP
$XFDVRXQHFROOLVLRQVXUYLHQGUDLWLOH[LVWHSOXVLHXUVSRVVLELOLWpVSRXUUpVRXGUH
OHSUREOqPH
²/LPLWDWLRQGHO·DQJOHG·RXYHUWXUHGHODSRUWHjVWDQGDUG
/DSLqFHSRXUUpGXLUHO
DQJOHG
RXYHUWXUHHVWOLYUpHDYHFO
DSSDUHLO
6XUFHVFKpPDO·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVWGHPP
,OQ
HVWWRXWHIRLVSDVUHFRPPDQGpG
LQVWDOOHUXQFRQJpODWHXU5)5)
HWODSRLJQpHGHPHXEOH*DJJHQDXHVWGHPP
5)5)jF{WpG
XQPXUTXLQpFHVVLWHGHOLPLWHUO
DQJOHG
RXYHUWXUHj
RXWRXWDXWUHLQVWDOODWLRQQpFHVVLWDQWXQDQJOHG
RXYHUWXUHGHSRUWHGHFDU
OHVWLURLUVQHSHXYHQWSDVrWUHHQWLqUHPHQWUHWLUpV6LOHVUHVWULFWLRQVG
XWLOLVDWLRQ (FDUWPXUDO5%5&5)5:
VRQWDFFHSWpHVSDUO
XWLOLVDWHXULOIDXWUHPSODFHUOHEDFjJODoRQVOLYUpGHVpULH /DUJHXUGHQLFKH
SDUXQPRGqOHSOXVSHWLW5$&HWWHPRGLILFDWLRQGRLWrWUHHIIHFWXpH
DYDQWODIL[DWLRQGHODSRUWH
²,QVWDOODWLRQG·XQHSLqFHLQWHUFDODLUHHQWUHO·DSSDUHLOHWOHPHXEOHDYHFOHTXHO
LO\DULVTXHGHFROOLVLRQ
²5pDPpQDJHPHQWGHVPHXEOHVGHFXLVLQHHQYLURQQDQWVRXGHODFRPELQDLVRQ
GHVDSSDUHLOVGHIURLG
$QJOHG
RXYHUWXUHGHSRUWH
6XUFHVFKpPDO·pSDLVVHXUGXSDQQHDX
G·KDELOODJHHVWGHPPHWODSRLJQpHGH
PHXEOH*DJJHQDXHVWGHPP
3UpFDXWLRQVGHPRQWDJH
/DGLVWDQFHHQWUHOHVFKDUQLqUHVHW
OHVpFDUWVTXLHQUpVXOWHQWSDUUDSSRUW 1RWHV
DXPHXEOHDGMDFHQWHWjVDSRLJQpH
SHXYHQWrWUHUHSULVGHO·LOOXVWUDWLRQFL ² /HVSLHGVVRQWUpJODEOHVHQKDXWHXUGHPPj²PP/HVVFKpPDVVRQW
GHVVXVHQIRQFWLRQGHO·pSDLVVHXUGX WRXMRXUVpWDEOLVjSDUWLUGHODKDXWHXUVWDQGDUGGHPP
SDQQHDXG·KDELOODJH6XUFHVFKpPD ² /DGLVWDQFHHQWUHOHVROHWO·DUrWHLQIpULHXUHGHODSRUWHG·KDELOODJHGRLWrWUHG·DX
O·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVW PRLQVPPSRXUSHUPHWWUHXQHERQQHYHQWLODWLRQGHO·DSSDUHLO
GHPP ² /·pSDLVVHXUGHVSRUWHVG·KDELOODJHVXUPHVXUHGRLWrWUHFRPSULVHHQWUH
HWPPVXUOHVVFKpPDVPP
,QVWDOODWLRQGDQVXQHQLFKH $SSDUHLOVGHIURLG
&RQWUDLUHPHQWDX[DSSDUHLOVLQWpJUDEOHVWUDGLWLRQQHOVOHVDSSDUHLOVGH)URLG9DULR (PSODFHPHQWG
LQVWDOODWLRQ
VHSRVHQWGLUHFWHPHQWVXUOHVRO
&HODVLJQLILHTXHODQLFKHSRXUO
HQFDVWUHPHQWHVWXQHVSDFHGDQVOHOLQpDLUHGHV /
DSSDUHLOGRLWrWUHLQVWDOOpGDQVXQORFDOVHFHWELHQDpUp/·DSSDUHLOQHGRLWSDVrWUH
pOpPHQWVGHFXLVLQH GLUHFWHPHQWH[SRVpDX[UD\RQVGXVROHLOQLrWUHLQVWDOOpjSUR[LPLWpG·XQHVRXUFHGH
FKDOHXUFRPPHXQHFXLVLQLqUHXQDSSDUHLOGHFKDXIIDJHHWF
,QVWDOODWLRQGDQVXQHQLFKH 6LO
LQVWDOODWLRQjF{WpG
XQHVRXUFHGHFKDOHXUHVWLQpYLWDEOHLOIDXWREOLJDWRLUHPHQW
XWLOLVHUXQHSODTXHLVRODQWHRXELHQUHVSHFWHUOHVGLVWDQFHVPLQLPDOHVVXLYDQWHV
,OHVWLPSRUWDQWGHUHVSHFWHUOHVGLPHQVLRQVLQGLTXpHVSRXUODQLFKHSRXUpYLWHU DYHFODVRXUFHGHFKDOHXU
G·pYHQWXHOVSUREOqPHVG·LQVWDOODWLRQHWJDUDQWLUXQDOLJQHPHQWSDUIDLWGHO·KDELOODJH ² FPSDUUDSSRUWjGHVFXLVLQLqUHVpOHFWULTXHVRXjJD]
GHO·DSSDUHLO,OIDXWIDLUHSDUWLFXOLqUHPHQWDWWHQWLRQjFHTXHODQLFKHVRLW ² FPSDUUDSSRUWjXQIRXUpOHFWULTXHRXjJD]
UHFWDQJXODLUH/HVSDURLVODWpUDOHVGRLYHQWrWUHSDUIDLWHPHQWSODQHVHWOLVVHVVDQV ² FPSDUUDSSRUWjXQHFKDXGLqUHDXILRXORXjFKDUERQ
SURWXEpUDQFHVQLLUUpJXODULWpV8WLOLVH]OHVRXWLOVDSSURSULpVWHOTXHQLYHDXjEXOOHV /HSODQFKHUGRLWrWUHVROLGHSRXUVXSSRUWHUOHSRLGVGHO·DSSDUHLOVLQpFHVVDLUH
PHVXUHVGHVGLDJRQDOHVHWF«SRXUGpWHUPLQHUVLODQLFKHHVWUHFWDQJXODLUH UHQIRUFHUOHSODQFKHU3RXUDVVXUHUXQERQIRQFWLRQQHPHQWGHODIDEULTXHjJODFH
/·pSDLVVHXUGHVSDURLVODWpUDOHVHWGHODFRUQLFKHVXSpULHXUHGRLWrWUHG·DXPRLQVPP O·DSSDUHLOGRLWrWUHLQVWDOOpVXUXQHVXUIDFHSDUIDLWHPHQWSODQH
,QVWDOODWLRQG
XQDSSDUHLOVHXOGDQVXQHQLFKH 6XUIDFHG
LQVWDOODWLRQ
3RXUXQHLQVWDOODWLRQHQWRXWHVpFXULWpHWXQIRQFWLRQQHPHQWFRUUHFWO·DSSDUHLO
GRLWrWUHLQVWDOOpVXUXQVROFRQVWLWXpG·XQPDWpULDXGXUVWDEOHHWGHQLYHDX
/HVROGHODQLFKHG·HQFDVWUHPHQWGRLWrWUHjODPrPHKDXWHXUTXHOHSODQFKHU
GDQVOHUHVWHGHODSLqFH
(QUDLVRQGXSRLGVGHO·DSSDUHLOHQWLqUHPHQWFKDUJpLOGRLWUHSRVHUVXUXQVRO
RIIUDQWXQHSRUWDQFHVXIILVDQWH
(QFDVGHGRXWHFRQVXOWHUXQDUFKLWHFWHLQJpQLHXURXH[SHUWHQFRQVWUXFWLRQ
0HXEOHVDGMDFHQWV
/HQRXYHODSSDUHLOGRLWrWUHYLVVpIHUPHPHQWDX[F{WpVGHVPHXEOHVDGMDFHQWV
3RXUFHWWHUDLVRQLOHVWWUqVLPSRUWDQWTXHWRXVOHVPHXEOHVDGMDFHQWVjO·DSSDUHLO
VRLHQWIL[pVVRLWDXVROVRLWFRQWUHOHPXU
/·pSDLVVHXUGHODSOLQWKHQHGRLWSDVGpSDVVHUPP
$ (PSODFHPHQWSRXUOHUDFFRUGHPHQWjO·HDX
% (PSODFHPHQWSRXUOHUDFFRUGHPHQWpOHFWULTXHGRLWrWUHVLWXp
HQGHKRUVGHODQLFKH
& 3URIRQGHXUGHODQLFKHGpSHQGODFRQFHSWLRQGHODFXLVLQH
& PPPLQLPXP
; /DUJHXUGHODQLFKHYRLUOHWDEOHDXFLGHVVRXVSRXUSOXVGHGpWDLOV
7\SHG
DSSDUHLO /DUJHXUGHODQLFKH;
PP PP
PP PP
PP PP
PP PP
,QVWDOODWLRQ6LGHE\6LGH
3RXUXQHLQVWDOODWLRQHQ6LGHE\6LGHLOH[LVWHGHPXOWLSOHVFRPELQDLVRQV
G·DSSDUHLOV/DODUJHXUGHODQLFKHG·HQFDVWUHPHQWV·REWLHQWHQDGGLWLRQQDQWOD
ODUJHXUGHODQLFKHGHFKDTXHDSSDUHLO/DKDXWHXUHWODSURIRQGHXUGHODQLFKH
FRUUHVSRQGHQWjFHOOHVGHO·DSSDUHLOVHXO,OHVWLPSRUWDQWGHUHVSHFWHUOHVPHVXUHV
FRQFHUQDQWOHVHPSODFHPHQWVGHVUDFFRUGHPHQWVpOHFWULTXHHWjO·HDX
&HVPHVXUHVFRUUHVSRQGHQWjFHOOHVpWDEOLHVSRXUXQDSSDUHLOVHXO
6RFOH_&RUQLFKH
/HVRFOH /DFRUQLFKH
/DKDXWHXUGHODSRUWHG·KDELOODJHGHO
DSSDUHLOGpSHQGGH
,PSRUWDQW ² ODKDXWHXUWRWDOHGHO
DSSDUHLO
8QHYHQWLODWLRQLQVXIILVDQWHSHXWHQGRPPDJHUO
DSSDUHLO ² ODGLVWDQFHHQWUHO·DUrWHLQIpULHXUHGHODSRUWHG·KDELOODJHHWOHVRO
/HVDpUDWLRQVSRXUO·HQWUpHHWO·pYDFXDWLRQGHO·DLUQHGRLYHQWHQDXFXQFDVrWUH ² GXW\SHG
DSSDUHLODSSDUHLOjXQHRXSOXVLHXUVSRUWHV
REWXUpHV,OIDXWUHVSHFWHUXQHGLVWDQFHPLQLPDOHGHPPHQWUHO·DUrWH /DKDXWHXUWRWDOHGHO
DSSDUHLOHVWGHPP
VXSpULHXUHGHODSOLQWKHHWO·DUrWHLQIpULHXUHGHODSRUWHG·KDELOODJH,OIDXW
pJDOHPHQWWHQLUFRPSWHGHODSRVVLELOLWpGHUpJODJHGHVSLHGVGHO·DSSDUHLOHQ 5pJODJHSRVVLEOHHQKDXWHXUGHPPjPP/DGLVWDQFHPLQLPDOHj
KDXWHXU UHVSHFWHULPSpUDWLYHPHQWHQWUHOHERUGVXSpULHXUGXVROHWOHERUGLQIpULHXUGH
ODSRUWHG·KDELOODJHGHO·DSSDUHLOHVWGHPP
/DKDXWHXUPD[LPDOHVWDQGDUGGHODSOLQWKHHVWGHPP
/·pSDLVVHXUPD[LPDOHGHODSOLQWKHHVWGHPP &HWWHKDXWHXUSHXWYDULHUVHORQOHVFRQWUDLQWHVOLpHVDXOLHXG·LQVWDOODWLRQ,OHVWSDU
H[HPSOHSRVVLEOHVHORQOHW\SHG·KDELOODJHGHSRUWHGHSURORQJHUODKDXWHXUGHOD
/DIL[DWLRQGHODSOLQWKHSHXWVHIDLUHjO·DLGHGHVEDQGHVDGKpVLYHVVLWXpHVVXU SRUWHG·KDELOODJHDXGHVVXVGHODSRUWHGHO·DSSDUHLOOXLPrPH
O·DYDQWGHO·DSSDUHLO
/HVDpUDWLRQVSRXUO·HQWUpHHWO·pYDFXDWLRQGHO·DLUVRQWVLWXpHVDXGHVVXVGHOD
SOLQWKH(OOHVQHGRLYHQWSDVrWUHUHFRXYHUWHV 3RVVLELOLWpG
H[WHQVLRQ
GHODSRUWHG
KDELOODJH
'pWDLOGHODSOLQWKH
&RUQLFKH
3RUWHG
KDELOODJH
3RXUODKDXWHXUVWDQGDUGGHO·DSSDUHLOODKDXWHXUPD[LPDOHGHODSOLQWKH 3RUWHGH
GRLWrWUHGHPP/·pSDLVVHXUGHODSOLQWKHQHGRLWSDVGpSDVVHU O
DSSDUHLO
PP
&RUSVGHO
DSSDUHLO
'DQVFHUWDLQHVFRQILJXUDWLRQVLOSHXWrWUHQpFHVVDLUHG
DXJPHQWHUODGLVWDQFHHQWUH
OHERUGVXSpULHXUGXSODQFKHUHWOHERUGLQIpULHXUGHODSRUWHG
KDELOODJHGHVRUWH
TXHODPHVXUHVWDQGDUGGHPPVRLWDXJPHQWpH/DPHVXUHPD[LPDOHGHOD ,PSRUWDQW
GLVWDQFHHVWGHPP ,OHVWQpFHVVDLUHGHUHVSHFWHUXQHSURIRQGHXUPLQLPXPGHPPSRXUOD
'DQVFHFDVOHVDpUDWLRQVG
HQWUpHG
DLUHWGHVRUWLHG
DLUGHODJULOOHVHURQWYLVLEOHV FRUQLFKHKDXWHGHILQLWLRQGHODQLFKHPHVXUpHjSDUWLUGXERUGDYDQWGH
O
DSSDUHLO&·HVWODVHXOHIDoRQG·DVVXUHUXQHIL[DWLRQVpFXULVpHGHO·DSSDUHLO
GDQVODQLFKH
'LPHQVLRQVGHVDFFHVVRLUHVVSpFLDX[²KDELOODJHGHSRUWH_KDELOODJHFDGUHGHSRUWH $SSDUHLOVGHIURLG
/HVPHXEOHVGHFXLVLQHODKDXWHXUGXVRFOHODKDXWHXUWRWDOHGHODFXLVLQHHWWRXWHV $SSDUHLOVODUJHXUGHQLFKHFP
OHVDXWUHVPHVXUHVGHODFXLVLQHGRLYHQWrWUHSULVHQFRPSWHSRXUSHUPHWWUHOH +DELOODJHGHSRUWH
PRQWDJHSDUIDLWGHODSRUWHG·KDELOODJHHWXQHLQWpJUDWLRQRSWLPDOHGHO·DSSDUHLO
/HVVFKpPDVVXLYDQWVSUHQQHQWHQFRPSWHOHVPHVXUHVGHEDVHGHVDFFHVVRLUHV
SRUWHG·KDELOODJHFDGUHG·KDELOODJHGHSRUWH
/HVPHVXUHVGHVSRUWHVIRXUQLHVVRQWpWDEOLHVjSDUWLUGHVGRQQpHVGHEDVH
VXLYDQWHV
² +DXWHXUGXVRFOHPP
² +DXWHXUWRWDOHGHODQLFKHG·HQFDVWUHPHQWPP
² (VSDFHPP
² (SDLVVHXUGXSDQQHDXG·KDELOODJHPP
&HVGRQQpHVFRQVWLWXHQWXQHEDVHSRXUODPDMRULWpGHVVW\OHVGHFXLVLQH
'DQVOHFDVGHSRUWHVGHPHXEOHVSpFLILTXHVLOIDXWYHLOOHUjFHTXHODIDFHDUULqUH
GHODSRUWHG·KDELOODJHVRLWYLVLEOHVXUXQHKDXWHXUGHPPDXGHVVXVGX
SODQFKHUORUVGHO·RXYHUWXUHGHODSRUWHSRXUrWUHDGDSWpHjFKDTXHGHVLJQ
7RXVOHVVFKpPDVVRQWpJDOHPHQWYDODEOHVSRXUOHVKDELOODJHVGHSRUWHVDQV
SRLJQpH
,PSRUWDQW
/HVVFKpPDVFLGHVVRXVQHUHPSODFHQWSDVXQHSODQLILFDWLRQGpWDLOOpH /·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVWGHPP
/HUHVSHFWGHVH[LJHQFHVVSpFLILTXHVGXGHVLJQGHODFXLVLQHHVWHVVHQWLHOOH /HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG·KDELOODJHVRQWSUpYXHVSRXUXQH
IHQWHGHPPEDVpHVVXUXQHQLFKHLQGLYLGXHOOH
$/DGpFRXSHSRXUOHGLVWULEXWHXUHVWFHQWUpHKRUL]RQWDOHPHQW
HWYHUWLFDOHPHQW
%/DODUJHXUGHVF{WpVGXFDGUHSRXUODFDYHjYLQGRLWrWUHFRPSULVH
$SSDUHLOVODUJHXUGHQLFKHFP HQWUHPPHWPP
+DELOODJHGHSRUWH
$SSDUHLOVODUJHXUGHQLFKHFP
+DELOODJHGHSRUWH
/·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVWGHPP
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG·KDELOODJHVRQWSUpYXHVSRXUXQH
IHQWHGHPPEDVpHVVXUXQHQLFKHLQGLYLGXHOOH /·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVWGHPP
%/DODUJHXUGHVF{WpVGXFDGUHSRXUODFDYHjYLQGRLWrWUHFRPSULVH /HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG·KDELOODJHVRQWSUpYXHV
HQWUHPPHWPP SRXUXQHIHQWHGHPPEDVpHVVXUXQHQLFKHLQGLYLGXHOOH
$SSDUHLOODUJHXUGHQLFKHFP $SSDUHLOVODUJHXUGHQLFKHFP
+DELOODJHGHSRUWH +DELOODJHGHSRUWH
/
pSDLVVHXUGXSDQQHDXG
KDELOODJHHVWGHPP /·pSDLVVHXUGXSDQQHDXG·KDELOODJHHVWGHPP
/HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG
KDELOODJHVRQWSUpYXHV /HVGLPHQVLRQVPD[LPDOHVGXSDQQHDXG·KDELOODJHVRQWSUpYXHVSRXUXQH
SRXUXQHIHQWHGHPPEDVpHVVXUXQHQLFKHLQGLYLGXHOOH IHQWHGHPPEDVpHVVXUXQHQLFKHLQGLYLGXHOOH
3ULQFLSHG·LQVWDOODWLRQSRXUXQDSSDUHLOVHXO
&RUQLFKH
0XU
3ODQFKHU
3ODQGHWUDYDLO
0HXEOH 6RFOH
1LFKH
GHFXLVLQH G·HQFDVWUHPHQW
3RUWHG·KDELOODJH
/DSRUWHG·KDELOODJHGHO
DSSDUHLOHVWLGHQWLTXHDX[DXWUHVSRUWHVGHPHXEOHVGH
FXLVLQH
&DUDFWpULVWLTXHVGHODQLFKHG·HQFDVWUHPHQW
3RUWHG·KDELOODJH
² /HVSDURLVODWpUDOHVGHODQLFKHGRLYHQWrWUHFRPSOqWHPHQWOLVVHVHWVDQV
DVSpULWpVVXUWRXWHODSURIRQGHXUGHODQLFKH
² /DFRUQLFKHGHILQLWLRQGRLWDYRLUXQHSURIRQGHXUPLQLPDOHGHPPHWrWUH
FRQVWLWXpHG
XQPDWpULDXVROLGHpSDLVVHXUPLQLPDOHPP
² /DUJHXUGHODQLFKHPP
0HXEOHGHFXLVLQH
² 3URIRQGHXUGHODQLFKHPLQPP
/HVF{WpVGHODQLFKHGRLYHQWrWUHOLVVHVHWVDQVDVSpULWpV
VXUWRXWHODSURIRQGHXUGHODQLFKH
&RXSHKRUL]RQWDOHQLFKHG·HQFDVWUHPHQW
0HXEOHGHFXLVLQH
3RUWHG·KDELOODJH
3ULQFLSHG·LQVWDOODWLRQSRXUXQHFRPELQDLVRQ6LGHE\6LGH $SSDUHLOVGHIURLG
&ORLVRQSODQHHWOLVVH
&RUQLFKH
0XU
3ODQFKHU
3ODQGHWUDYDLO
0HXEOH 1LFKH 6RFOH
GHFXLVLQH G·HQFDVWUHPHQW
3RUWHG·KDELOODJH
&RXSHYHUWLFDOHQLFKHG·HQFDVWUHPHQW 1LFKHG·HQFDVWUHPHQWSRXUXQHFRPELQDLVRQ6LGHE\6LGH
/HVSRUWHVG·KDELOODJHGHVDSSDUHLOVVRQWLGHQWLTXHVDX[DXWUHVSRUWHVGHPHXEOHV
3RUWHG·KDELOODJH
GHFXLVLQH
&DUDFWpULVWLTXHVGHODQLFKHG·HQFDVWUHPHQW
² /HVSDURLVODWpUDOHVGHODQLFKHGRLYHQWrWUHFRPSOqWHPHQWOLVVHVHWVDQV
DVSpULWpVVXUWRXWHODSURIRQGHXUGHODQLFKH
0HXEOHGHFXLVLQH
² /DFRUQLFKHGHILQLWLRQGRLWDYRLUXQHSURIRQGHXUPLQLPDOHGHPPHWrWUH
FRQVWLWXpHG
XQPDWpULDXVROLGHpSDLVVHXUPLQLPDOHPP
² /DUJHXUGHODQLFKHPPPP PP
² 3URIRQGHXUGHODQLFKHPLQPP
/HVF{WpVGHODQLFKHGRLYHQWrWUHOLVVHVHWVDQVDVSpULWpV
VXUWRXWHODSURIRQGHXUGHODQLFKH
&RXSHKRUL]RQWDOHQLFKHG·HQFDVWUHPHQW
0HXEOH
KDXW
&ORLVRQSODQH
HWOLVVH
3RUWHG·KDELOODJH 3ODQGHWUDYDLO
([HPSOHVG·LQVWDOODWLRQ
,QVWDOODWLRQ6LGHE\6LGHVROXWLRQ
5)5&
&RQWUDLQWHVG·XWLOLVDWLRQ$XFXQHOLPLWDWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV2XYHUWXUHGHVSRUWHVYHUVO·H[WpULHXU
6[6
,QVWDOODWLRQ6LGHE\6LGHVROXWLRQ
5:5%
&RQWUDLQWHVG·XWLOLVDWLRQ$XFXQHOLPLWDWLRQ
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV2XYHUWXUHGHVSRUWHVYHUVO·H[WpULHXU
,QYHUVLRQGXVHQVG·RXYHUWXUHGHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
GHODSRUWHGX5:
6[6
,QVWDOODWLRQ6LGHE\6LGHVROXWLRQ
5:5<
&RQWUDLQWHVG·XWLOLVDWLRQ7RXWHVOHVSRUWHVQHSHXYHQWSDVrWUHRXYHUWHVHQPrPH
WHPSV/DSRUWHJDXFKHGX5<SHXWHQWUHUHQFROOLVLRQDYHFODSRLJQpHGX5:
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV%ORTXHUO·RXYHUWXUHGHODSRUWHJDXFKHGX5<j
,QYHUVLRQGXVHQVG·RXYHUWXUHGHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
GHODSRUWHGX5:
6[6
&RPELQDLVRQGHDSSDUHLOV
5)5:5&
&RQWUDLQWHVG·XWLOLVDWLRQ/HVSRUWHVGX5:HWGX5&QHSHXYHQWSDVrWUHRXYHUWHV
HQPrPHWHPSVPDLVO·XQHDSUqVO·DXWUH
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV/HVWURLVDSSDUHLOVGRLYHQWrWUHDVVHPEOpVHQVHPEOHDYDQWG·rWUH
LQWpJUpVGDQVODQLFKHHWSRXVVpVHQVHPEOHGDQVODQLFKHG·HQFDVWUHPHQW
6[6 6[6
'LVWDQFHPD[LPDOH
5)5)5:5&
,QVWDOODWLRQ$XFXQHOLPLWDWLRQ7RXWHVOHVSRUWHVSHXYHQWrWUHRXYHUWHVHQPrPH
WHPSV
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV'HX[QLFKHVG·HQFDVWUHPHQWLQGpSHQGDQWHV3UpYRLUXQHGLVWDQFH
VXIILVDQWHHQWUHOHVQLFKHVSRXUSHUPHWWUHO·RXYHUWXUHVLPXOWDQpHGHWRXWHVOHV
SRUWHVHQPrPHWHPSV,QYHUVLRQGXVHQVG·RXYHUWXUHGHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
GHODSRUWHGX5:
6[6 6[6
$SSDUHLOVGHIURLG
'LVWDQFHPP
5)5)5:5&
,QVWDOODWLRQ/HVSRUWHVGXPLOLHXQHSHXYHQWSDVrWUHRXYHUWHVHQPrPHWHPSV
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV'HX[QLFKHVG·HQFDVWUHPHQWLQGpSHQGDQWHV
/DGLVWDQFHHQWUHOHVQLFKHVHVW!jPP&KDQJHUOHVHQVG·RXYHUWXUH
GHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
GHODSRUWHGX5:
6[6 6[6
'LVWDQFHPP
5)5)5:5&
,QVWDOODWLRQ/HVSRUWHVGXPLOLHXQHSHXYHQWSDVrWUHRXYHUWHVHQPrPHWHPSV
PDLVO·XQHDSUqVO·DXWUH
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
[5$)HXLOOHWKHUPLTXH+(
5HPDUTXHV'HX[QLFKHVG·HQFDVWUHPHQWVpSDUpHVSDUXQHFORLVRQVWDEOH
/DGLVWDQFHHQWUHOHVQLFKHVHVWLQIpULHXUHjPPLOIDXWGRQFLQVWDOOHU
ODIHXLOOHWKHUPLTXH
&KDQJHUOHVHQVG·RXYHUWXUHGHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
6[6 +( 6[6 GHODSRUWHGX5:
&RPELQDLVRQGHDSSDUHLOV
5)5)5:5&
,QVWDOODWLRQ/HVSRUWHVGXPLOLHXQHSHXYHQWSDVrWUHRXYHUWHVHQPrPHWHPSV
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV/HVDSSDUHLOVVLWXpVDXFHQWUHVRQWUHOLpVHQVHPEOHGXF{WpGHV
FKDUQLqUHV
/HVDSSDUHLOVGRLYHQWrWUHDVVHPEOpVHQVHPEOHDYDQWG·rWUHLQWpJUpVGDQVODQLFKH
HWSRXVVpVHQVHPEOHGDQVODQLFKHG·HQFDVWUHPHQW
,QYHUVLRQGXVHQVG·RXYHUWXUHGHSRUWHGX5:
(QFDVG·LQVWDOODWLRQGHVSRUWHVG·KDELOODJHHQLQR[DYHFSRLJQpHV$FFHVVRLUHHQ
6[6 6[6 6[6 RSWLRQVpOHFWLRQQHUODUpIpUHQFHGHO
KDELOODJHLQR[HQIRQFWLRQGXVHQVG·RXYHUWXUH
GHODSRUWHGX5:
&RPELQDLVRQGHDSSDUHLOVDOWHUQDWLYH
5)5)5:5&
,QVWDOODWLRQ6LO·XQHGHVSRUWHVGXPLOLHXHVWRXYHUWHRQQHSHXWSDVRXYULUFHOOH
VLWXpHjO·H[WpULHXUVXUOHPrPHF{Wp
$FFHVVRLUHVG
LQVWDOODWLRQ[5$$FFHVVRLUHSRXULQVWDOODWLRQ
6LGHE\6LGH6[6
5HPDUTXHV/HVDSSDUHLOVVLWXpVDXFHQWUHVRQWLQVWDOOpVHQ6LGHE\6LGH
3RXUOHPRQWDJHGHVDXWUHVDSSDUHLOVLOIDXWLQVWDOOHUGHVDFFHVVRLUHVG
LQVWDOODWLRQ
6LGHE\6LGHVXSSOpPHQWDLUHV
/HVDSSDUHLOVGRLYHQWrWUHDVVHPEOpVHQVHPEOHDYDQWG·rWUHLQWpJUpVGDQVODQLFKH
HWSRXVVpVHQVHPEOHGDQVODQLFKHG·HQFDVWUHPHQW
/pJHQGH
6[6 $FFHVVRLUHSRXULQVWDOODWLRQ6LGHE\6LGH
+( $FFHVVRLUH)HXLOOHWKHUPLTXH
$FFHVVRLUHVSRXU)URLG9DULR6pULH
7\SHG
DSSDUHLO 5pIULJpUDWHXU 5pIULJpUDWHXU 5pIULJpUDWHXU 5pIULJpUDWHXU
FRQJpODWHXU FRQJpODWHXU FRQJpODWHXU
5< 5% 5% 5&
3RUWH&DGUHGHSRUWH
3RUWHHQLQR[DYHFSRLJQpHpSDLVVHXUGHIDoDGHPP 5$ 5$ 5$ 5$
3RUWHHQLQR[VDQVSRLJQpHpSDLVVHXUGHIDoDGHPP 5$ 5$ 5$ 5$
&DGUHGHSRUWHHQLQR[DYHFSRLJQpHFKDUQLqUHJDXFKHpSDLVVHXUGHIDoDGHPP
&DGUHGHSRUWHHQLQR[DYHFSRLJQpHFKDUQLqUHGURLWHpSDLVVHXUGHIDoDGHPP
&DGUHGHSRUWHHQLQR[VDQVSRLJQpHpSDLVVHXUGHIDoDGHPP
5$ 6HUUXUH5:HW5:
*ULOOHGHYHQWLODWLRQ
,QR[ 5$ 5$ 5$ 5$
$PpQDJHPHQW&DYHjYLQ
&OD\HWWHVRUWLHWRWDOHHQERLVGHFKrQHHWDOXPLQLXPPDVVLI$QWKUDFLWH
3ODWHDXpWDJqUHDPRYLEOHHQERLVGHFKrQHSRXUERXWHLOOHVRXYHUWHVHWFDUDIHVjGpFDQWHU
3UpVHQWRLUSRXUERXWHLOOHHQERLVGHFKrQHHWDOXPLQLXPPDVVLI$QWKUDFLWHjO
XQLWp
6XSSRUWHQERLVGHFKrQHSRXUUDQJHPHQWSUDWLTXHGHVERXWHLOOHV
5$ 6HWGHFDFKHVQRLUVSRXUYLVSLqFHV
3RLJQpHV
5$ 3RLJQpHORQJXHLQR[ORQJXHXUPPDYHFEORFVSRLJQpHV
LQWHUYDOOHGHSHUoDJHPP
5$ 3RLJQpHFRXUWHLQR[ORQJXHXUPPDYHFEORFVSRLJQpHV
LQWHUYDOOHGHSHUoDJHPP3RXU5%
5$ 3RLJQpHFRXUWHLQR[ORQJXHXUPPDYHFEORFVSRLJQpHV
LQWHUYDOOHGHSHUoDJHPP3RXU5%5<
$FFHVVRLUHV
5$ %RLWHGHVWRFNDJHDYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH
5$ %DFjJODoRQVSHWLWPRGqOHSRXULQVWDOODWLRQDYHFDQJOHG
RXYHUWXUHGHSRUWHj
5$ )LOWUHjFKDUERQDFWLISRXUOHV\VWqPHGH=OWUHjHDX
(7 )LOWUHjFKDUERQDFWLISLqFHGpWDFKpH
$FFHVVRLUHVSRXU)URLG9DULR6pULH
7\SHG
DSSDUHLO &DYHjYLQ &DYHjYLQ &DYHjYLQ &DYHjYLQ
6LGHE\6LGH6pULH =RQHIUDvFKHXUSURFKHGH&
5< WLURLUVIUDvFKHXUSURFKHGH&
UpJODJHVGHWHPSpUDWXUHSUpGpILQLV
² ]RQHVFOLPDWLTXHVGRQW]RQH HQWUH&HW&FRPELQpVDYHF
IUDvFKHXUSURFKHGH& XQUpJODJHGHO
KXPLGLWpSRXUSRLVVRQ
² WLURLUVIUDvFKHXUSURFKHGH& HWYLDQGHIUXLWVOpJXPHVERLVVRQV
DYHFUpJODJHVGHWHPSpWDWXUH VWDQGDUG
SUpGpILQLVHQWUH&HW& 9ROXPHXWLOHOLWUHV
² WDEOHWWHVHQYHUUHGLYLVpHV
V\PpWULTXHPHQWUpJODEOHVHQ &RQJpODWHXU
KDXWHXU 6\VWqPH1R)URVWDYHF6XSHU
² )DEULTXHGHJODFHLQWpJUpHDYHF &RQJpODWLRQ
UDFFRUGHPHQWGLUHFWjO
HDX 7HPSpUDWXUHUpJODEOHGH&j
² 'LVWULEXWHXUG
HDXLQWHUQHSRXUHDX &
IUDvFKH &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
² VFpQDULRVG
pFODLUDJHSUpGpILQLV &DSDFLWpGHFRQJpODWLRQNJK
² 9ROXPHXWLOHOLWUHV $XWRQRPLHGHKHQFDVGH
FRXSXUHGHFRXUDQW
%DQGHDXGHFRPPDQGH WLURLUVHQWLqUHPHQWH[WUDFWLEOHV
&RQWU{OHpOHFWURQLTXHGHOD 9ROXPHXWLOHOLWUHV
WHPSpUDWXUHHWDIILFKDJHGHOD
WHPSpUDWXUH )DEULTXHGHJODFH
7RXFKHVVHQVLWLYHV ,QWpJUpHGDQVOHFRPSDUWLPHQW
FRQJpODWHXUUDFFRUGHPHQWGLUHFWj
&DUDFWpULVWLTXHVWHFKQLTXHV O
HDX
5pSDUWLWLRQG\QDPLTXHGXIURLG $UUrWVpSDUpGHODIDEULTXHGHJODFH
'pJLYUDJHDXWRPDWLTXHSDU 3URGXFWLRQGHJODoRQVHQYLURQ
pYDSRUDWLRQ NJK
$ODUPHHQFDVGHSRUWHRXYHUWH %DFjJODoRQVDPRYLEOHSRXUXQH
RXGHG\VIRQFWLRQQHPHQW UpVHUYHG
HQYLURQNJ
6pFXULWpHQIDQWV
0RGH5HSRVFHUWLILp6WDU. &RQVRPPDWLRQV
0RGH9DFDQFHV &ODVVHG
HIILFDFLWppQHUJpWLTXH(
3DQQHDX[ODWpUDX[HWGHVVXVGH VXUXQHpFKHOOHGH$j*
O
DSSDUHLOGHFRXOHXU$QWKUDFLWHIRQFp &RQVRPPDWLRQpQHUJpWLTXH
)LOWUHjFKDUERQDFWLISRXUV\VWqPH N:KDQñ
GHILOWUHjHDXDYHFLQGLFDWHXUGH 1LYHDXVRQRUH'%$UHS:
VDWXUDWLRQDXQLYHDXGHO
pFUDQ
೦1RXYHDX )LOWUHjDLUjFKDUERQDFWLI &RQVHLOVG
LQVWDOODWLRQ
5< ೦ ࡱ $QJOHG
RXYHUWXUHGHSRUWHGH
=RQHIUDvFKHXU ࡱ+7 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV UpJODEOHj
SURFKHGH& PRGH'LJLWDO+RPH&RQQHFW 'LVWDQFHGXPXUGHPPREOLJDWRLUH
3RVHOLEUHSRUWHVHWIDoDGHGXWLURLU /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH 6LODSUHVVLRQGHO
HDXHVWVXSpULHXUHj
LQR[FRXOHXU$QWKUDFLWH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp 03DEDULQVWDOOHUXQHVRXSDSH
/DUJHXUFP GHVVHUYLFHV+RPH&RQQHFWGDQVOH GHOLPLWDWLRQGHSUHVVLRQHQWUHOH
+DXWHXUFP SD\VUHVSHFWLI/HVVHUYLFHV+RPH URELQHWG
DUULYpHG
HDXHWOHWX\DX
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV ñ3RXUDWWHLQGUHODFRQVRPPDWLRQ
$FFHVVRLUHVLQWpJUpV WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU pQHUJpWLTXHGpFODUpHLOIDXWXWLOLVHU
SHOOHjJODoRQV ZZZKRPHFRQQHFWFRP OHVHQWUHWRLVHVOLYUpHVGHVpULH&HV
ILOWUHjFKDUERQDFWLI HQWUHWRLVHVDXJPHQWHQWODSURIRQGHXU
5pIULJpUDWHXU GHO
DSSDUHLOG
HQYLURQFP6DQV
$FFHVVRLUHVHQRSWLRQ 6XSHU5pIULJpUDWLRQ FHVHQWUHWRLVHVO
DSSDUHLOHVW
5$ ࡱ 7HPSpUDWXUHUpJODEOHGH& WRWDOHPHQWIRQFWLRQQHOPDLVVD
)LOWUHjHDXFKDUERQ ࡱ+7 j& FRQVRPPDWLRQpQHUJpWLTXHVHUD
DFWLISRXUV\VWqPHGHILOWUDWLRQ WDEOHWWHVHQYHUUHGHVpFXULWp OpJqUHPHQWSOXVpOHYpH
GLYLVpHVKDXWHXUUpJODEOH
/LYUDEOHjSDUWLUGH0DL PDQXHOOHPHQWSRXUWRXWHVOHV 9DOHXUVGHUDFFRUGHPHQW
GHPLWDEOHWWHV &kEOHGHUDFFRUGHPHQWPDYHF
WDEOHWWH SULVH
JUDQGVFRPSDUWLPHQWVGDQVOD 5DFFRUGHPHQWjO
HDX
FRQWUHSRUWHSRXUERXWHLOOHV 7X\DXG
DUULYpHG
HDXPDYHF
EDOFRQQHWVGDQVODFRQWUHSRUWHGRQW FRQQH[LRQ
UpJODEOHVHQKDXWHXU 3UHVVLRQG
HDXGHj%DU
WLURLUJUDQGHODUJHXU
'LVWULEXWHXUG
HDXLQWHUQHDYHF
UDFFRUGHPHQWGLUHFWjO
HDXLQWpJUp
GDQVODSDURLODWpUDOHLQWpULHXUH
JDXFKH
(FODLUDJH/('DQWLpEORXLVVHPHQW
.
VFpQDULRVG
pFODLUDJHSUpGpILQLVSRXU
O
pFODLUDJHpJDOHPHQWVpOHFWLRQQDEOHV
YLD+RPH&RQQHFW
3DURLDUULqUHLQWpULHXUHHQLQR[
9ROXPHXWLOHOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
$
Ă
Ă%Ă
$
%
0HVXUHVĂHQĂPP
$SSDUHLOVGHIURLG
&RPELQpUpIULJpUDWHXUFRQJpODWHXU =RQHIUDvFKHXU&
9DULR6pULH 7LURLUVDYHFSRLJQpHVHQDOXPLQLXPHW
5% IDFHDYDQWGXWLURLUDYHFXQGpJUDGp
JLYUp
² ,QWpULHXUDYHFGHVpOpPHQWVHQ pWDJqUHVHQYHUUHGHVpFXULWp
DOXPLQLXP*DJJHQDX/LJKW%URQ]H UpJODEOHVHQKDXWHXUGRQW
DVVHPEOpVDYHFSUpFLVLRQ SDUWLHOOHPHQWH[WUDFWLEOHV
² 7DEOHWWHVHWWLURLUVHQWLqUHPHQW WLURLUIUDvFKHXUSURFKHGH&pFODLUp
H[WUDFWLEOHV HQWLqUHPHQWH[WUDFWLEOH
² &RQFHSWG
pFODLUDJHRSWLPDO 5pJODJHPDQXHOGHO
KXPLGLWp
² ]RQHVFOLPDWLTXHVGRQWWLURLUV ,GpDOSRXUIUXLWVHWOpJXPHV
IUDvFKHXUSURFKHGH& WLURLUIUDvFKHXUSURFKHGH&
² (WDJqUHVHQYHUUHGHVpFXULWpDYHF pFODLUpHWHQWLqUHPHQWH[WUDFWLEOH
SURILOpDOXPLQLXPPDVVLIH[WUDFWLEOHV ,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
HWUpJODEOHVHQKDXWHXU 9ROXPHQHWOLWUHV
² 6\VWqPH6RIWFORVHIHUPHWXUH
GRXFHHWVLOHQFLHXVHGHODSRUWH &RQJpODWHXU
² &RXOLVVDQWWpOHVFRSLTXHVRUWLH 6\VWqPH1R)URVWDYHF6XSHU
WRWDOHDYHFV\VWqPHGHIHUPHWXUH &RQJpODWLRQ
DPRUWLSRXUXQHIHUPHWXUHGRXFHHW 7HPSpUDWXUHUpJODEOHGH&j
FRQWU{OpHGHVWLURLUV &
² 3UpVHQWRLUSRXUERXWHLOOHLQGLYLGXHOOH &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
೦1RXYHDX HQERLVG
pUDEOHDYHFFRQQHFWHXU 7LURLUVDYHFSRLJQpHVHQDOXPLQLXPHW
5%೦ ࡱ PDJQpWLTXHLQWpJUp IDFHDYDQWGHVWLURLUVDYHFXQGpJUDGp
=RQHIUDvFKHXU ࡱ+7 ² 9ROXPHQHWWRWDOOLWUHV JLYUp
SURFKHGH& ² &ODVVHG
HIILFDFLWppQHUJpWLTXH' $LGHDXGpJLYUDJH
7RXWLQWpJUDEOH &DSDFLWpGHFRQJpODWLRQNJHQK
+RPH&RQQHFW %DQGHDXGHFRPPDQGH $XWRQRPLHGHKHQFDVGHFRXSXUH
/DUJHXUGHODQLFKHFP &RQWU{OHpOHFWURQLTXHGHOD GHFRXUDQW
+DXWHXUGHODQLFKHFP WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO WLURLUVGHFRQJpODWLRQGRQWH[WUD
7RXFKHVVHQVLWLYHV JUDQGYROXPH
/HSUL[FRPSUHQG WDEOHWWHVHQYHUUHGHVpFXULWp
DFFXPXODWHXUVGHIURLG &DUDFWpULVWLTXHVWHFKQLTXHV 9ROXPHQHWOLWUHV
FDVLHUVjRHXIV 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
EDFjJODoRQV 6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD &RQVRPPDWLRQV
SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH &ODVVHG
HIILFDFLWppQHUJpWLTXH'
$FFHVVRLUHVHQRSWLRQ GH VXUXQHpFKHOOHGH$j*
5$ ࡱ $ODUPHHQFDVGHSRUWHRXYHUWHRX &RQVRPPDWLRQG
pQHUJLHN:KDQ
3UpVHQWRLU ࡱ+7 GHG\VIRQFWLRQQHPHQW 1LYHDXVRQRUH'%UHS:
SRXUERXWHLOOHHQERLVG
pUDEOHKXLOp
DYHFFRQQHFWHXUPDJQpWLTXHLQWpJUp 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV &RQVHLOVG
LQVWDOODWLRQ
5$ ࡱ PRGH'LJLWDO+RPH&RQQHFW &KDUQLqUHSDQWRJUDSKH
%RvWHGHFRQVHUYDWLRQ ࡱ+7 /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH &KDUQLqUHVjGURLWHUpYHUVLEOHV
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp $QJOHG
RXYHUWXUHGHSRUWH
GHVVHUYLFHV+RPH&RQQHFWGDQVOH SHXWrWUHEORTXpj
SD\VUHVSHFWLI/HVVHUYLFHV+RPH 3RLGVPD[LGHO
KDELOODJHGHVSRUWHV
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV 3RUWHGXKDXWNJ
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU 3RUWHGXEDVNJ
ZZZKRPHFRQQHFWFRP
9DOHXUVGHUDFFRUGHPHQW
5pIULJpUDWHXU 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
6XSHU5pIULJpUDWLRQ N:
7HPSpUDWXUHUpJODEOHGH&j &kEOHGHUDFFRUGHPHQWPDYHF
& SULVH
pWDJqUHHQYHUUHEODQFVDWLQp
SUpVHQWRLUVSRXUERXWHLOOH
LQGLYLGXHOOHHQERLVG
pUDEOHPDVVLI
KXLOpDYHFFRQQHFWHXUPDJQpWLTXH
LQWpJUpHWSRVVLELOLWpGHSODFHUMXVTX
j
SUpVHQWRLUVSDUpWDJqUH
3RVVLELOLWpGHSODFHUERXWHLOOHV
PD[LPXPVXUXQHpWDJqUHDYHF
SUpVHQWRLUVLQGLYLGXHOVERXWHLOOHV
VWDQGDUGGHO
/HVSUpVHQWRLUVLQGLYLGXHOVGHERXWHLOOH
VRQWpJDOHPHQWDGDSWpVDX[ERXWHLOOHV
GHFKDPSDJQHHWDX[PDJQXPV
JUDQGEDOFRQQHWHQDOXPLQLXPSRXU
ERXWHLOOHVGDQVODFRQWUHSRUWH
EDOFRQQHWVHQDOXPLQLXPGDQVOD
FRQWUHSRUWH
(FODLUDJHLQWpULHXUEODQFFKDXG
.DYHFpOHPHQWVG
pFODLUDJH
DQWLpEORXLVVHPHQWLQWpJUpVODWpUDOHPHQW
9ROXPHQHWOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RPELQpUpIULJpUDWHXUFRQJpODWHXU =RQHIUDvFKHXU&
9DULR6pULH 7LURLUVDYHFSRLJQpHVHQDOXPLQLXPHW
57 IDFHDYDQWGXWLURLUDYHFXQGpJUDGp
JLYUp
² ,QWpULHXUDYHFGHVpOpPHQWVHQ WLURLUIUDvFKHXUSURFKHGH&pFODLUp
DOXPLQLXP*DJJHQDX/LJKW%URQ]H HQWLqUHPHQWH[WUDFWLEOH
DVVHPEOpVDYHFSUpFLVLRQ 5pJODJHPDQXHOGHO
KXPLGLWp
² 7DEOHWWHVHWWLURLUVHQWLqUHPHQW ,GpDOSRXUIUXLWVHWOpJXPHV
H[WUDFWLEOHV WLURLUVIUDvFKHXUSURFKHGH&
² &RQFHSWG
pFODLUDJHRSWLPDO pFODLUpVHQWLqUHPHQWH[WUDFWLEOHV
² ]RQHVFOLPDWLTXHVGRQWWLURLUV ,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
IUDvFKHXUSURFKHGH& 9ROXPHQHWOLWUHV
² (WDJqUHVHQYHUUHGHVpFXULWpDYHF
SURILOpDOXPLQLXPPDVVLI &RQJpODWHXU
H[WUDFWLEOHVHWUpJODEOHVHQKDXWHXU 7HPSpUDWXUHGHFRQVHUYDWLRQ&
² &RXOLVVDQWWpOHVFRSLTXHVRUWLH HWSOXVIURLG
WRWDOHDYHFV\VWqPHGHIHUPHWXUH &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
DPRUWLSRXUXQHIHUPHWXUHGRXFHHW &DSDFLWpGHFRQJpODWLRQNJHQK
FRQWU{OpHGHVWLURLUV $XWRQRPLHGHKHQFDVGHFRXSXUH
² 3UpVHQWRLUSRXUERXWHLOOH GHFRXUDQW
LQGLYLGXHOOHHQERLVG
pUDEOHDYHF 9ROXPHQHWOLWUHV
FRQQHFWHXUPDJQpWLTXHLQWpJUp
೦1RXYHDX ² 9ROXPHQHWWRWDOOLWUHV &RQVRPPDWLRQV
57೦ ࡱ ² &ODVVHG
HIILFDFLWppQHUJpWLTXH( &ODVVHG
HIILFDFLWppQHUJpWLTXH(
=RQHIUDvFKHXU ࡱ+7 VXUXQHpFKHOOHGH$j*
SURFKHGH& %DQGHDXGHFRPPDQGH &RQVRPPDWLRQG
pQHUJLHN:KDQ
7RXWLQWpJUDEOH &RQWU{OHpOHFWURQLTXHGHOD 1LYHDXVRQRUH'%UHS:
+RPH&RQQHFW WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO
/DUJHXUGHODQLFKHFP 7RXFKHVVHQVLWLYHV &RQVHLOVG
LQVWDOODWLRQ
+DXWHXUGHODQLFKHFP &KDUQLqUHSDQWRJUDSKH
&DUDFWpULVWLTXHVWHFKQLTXHV &KDUQLqUHVjGURLWHUpYHUVLEOHV
/HSUL[FRPSUHQG 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ $QJOHG
RXYHUWXUHGHSRUWH
FDVLHUVjRHXIV 6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD SHXWrWUHEORTXpj
EDFjJODoRQV SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH 3RLGVPD[LGHO
KDELOODJHGHODSRUWH
GH NJ
$FFHVVRLUHVHQRSWLRQ $ODUPHHQFDVGHSRUWHRXYHUWHRX
5$ ࡱ GHG\VIRQFWLRQQHPHQW 9DOHXUVGHUDFFRUGHPHQW
3UpVHQWRLU ࡱ+7 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
SRXUERXWHLOOHHQERLVG
pUDEOHKXLOp 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV N:
DYHFFRQQHFWHXUPDJQpWLTXHLQWpJUp PRGH'LJLWDO+RPH&RQQHFW &kEOHGHUDFFRUGHPHQWPDYHF
5$ ࡱ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH SULVH
%RvWHGHFRQVHUYDWLRQ ࡱ+7 &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
5pIULJpUDWHXU
6XSHU5pIULJpUDWLRQ
7HPSpUDWXUHUpJODEOHGH&j
&
pWDJqUHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXUGRQW
SDUWLHOOHPHQWH[WUDFWLEOHV
pWDJqUHHQYHUUHEODQFVDWLQp
SUpVHQWRLUVSRXUERXWHLOOH
LQGLYLGXHOOHHQERLVG
pUDEOHPDVVLI
KXLOpDYHFFRQQHFWHXUPDJQpWLTXH
LQWpJUpHWSRVVLELOLWpGHSODFHUMXVTX
j
SUpVHQWRLUVSDUpWDJqUH
3RVVLELOLWpGHSODFHUERXWHLOOHV
PD[LPXPVXUXQHpWDJqUHDYHF
SUpVHQWRLUVLQGLYLGXHOVERXWHLOOHV
VWDQGDUGGHO
/HVSUpVHQWRLUVLQGLYLGXHOVGHERXWHLOOH
VRQWpJDOHPHQWDGDSWpVDX[ERXWHLOOHV
GHFKDPSDJQHHWDX[PDJQXPV
JUDQGEDOFRQQHWHQDOXPLQLXPSRXU
ERXWHLOOHVGDQVODFRQWUHSRUWH
EDOFRQQHWVHQDOXPLQLXPGDQVOD
FRQWUHSRUWH
(FODLUDJHLQWpULHXUEODQFFKDXG
.DYHFpOHPHQWVG
pFODLUDJH
DQWLpEORXLVVHPHQWLQWpJUpVODWpUDOHPHQW
9ROXPHQHWOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
5pIULJpUDWHXU9DULR6pULH =RQHIUDvFKHXU&
5& 7LURLUVDYHFSRLJQpHVHQDOXPLQLXPHW
IDFHDYDQWGXWLURLUDYHFXQGpJUDGp
² ,QWpULHXUDYHFGHVpOpPHQWVHQ JLYUp
DOXPLQLXP*DJJHQDX/LJKW%URQ]H WLURLUIUDvFKHXUSURFKHGH&
DVVHPEOpVDYHFSUpFLVLRQ pFODLUpHQWLqUHPHQWH[WUDFWLEOH
² 7DEOHWWHVHWWLURLUVHQWLqUHPHQW 5pJODJHPDQXHOGHO
KXPLGLWp
H[WUDFWLEOHV ,GpDOSRXUIUXLWVHWOpJXPHV
² &RQFHSWG
pFODLUDJHRSWLPDO WLURLUVIUDvFKHXUSURFKHGH&
² ]RQHVFOLPDWLTXHVGRQWWLURLUV pFODLUpVHQWLqUHPHQWH[WUDFWLEOHV
IUDvFKHXUSURFKHGH& ,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
² (WDJqUHVHQYHUUHGHVpFXULWpDYHF 9ROXPHQHWOLWUHV
SURILOpDOXPLQLXPPDVVLIH[WUDFWLEOHV
HWUpJODEOHVHQKDXWHXU &RQVRPPDWLRQV
² &RPELQDLVRQSRVVLEOHHQ &ODVVHG
HIILFDFLWppQHUJpWLTXH'
FRQILJXUDWLRQ6LGHE\6LGHDYHFOH VXUXQHpFKHOOHGH$j*
FRQJpODWHXU5) &RQVRPPDWLRQG
pQHUJLHN:KDQ
² 6\VWqPH6RIWFORVHIHUPHWXUH 1LYHDXVRQRUH'%UHS:
GRXFHHWVLOHQFLHXVHGHODSRUWH
² &RXOLVVDQWWpOHVFRSLTXHVRUWLH &RQVHLOVG
LQVWDOODWLRQ
WRWDOHDYHFV\VWqPHGHIHUPHWXUH &KDUQLqUHSDQWRJUDSKH
DPRUWLSRXUXQHIHUPHWXUHGRXFH &KDUQLqUHVjGURLWHUpYHUVLEOHV
೦1RXYHDX HWFRQWU{OpHGHVWLURLUV $QJOHG
RXYHUWXUHGHSRUWH
5&೦ ࡱ ² 3UpVHQWRLUSRXUERXWHLOOH SHXWrWUHEORTXpj
=RQHIUDvFKHXU ࡱ+7 LQGLYLGXHOOHHQERLVG
pUDEOHDYHF 3RLGVPD[LGHO
KDELOODJHGHODSRUWH
SURFKHGH& FRQQHFWHXUPDJQpWLTXHLQWpJUp NJ
7RXWLQWpJUDEOH ² 9ROXPHQHWWRWDOOLWUHV 3RXUXQHLQVWDOODWLRQHQ6LGHE\6LGH
+RPH&RQQHFW ² &ODVVHG
HIILFDFLWppQHUJpWLTXH' FKDTXHDSSDUHLOGRLWrWUHLQVWDOOpGDQV
/DUJHXUGHODQLFKHFP VDSURSUHQLFKH
+DXWHXUGHODQLFKHFP %DQGHDXGHFRPPDQGH
&RQWU{OHpOHFWURQLTXHGHOD 9DOHXUVGHUDFFRUGHPHQW
/HSUL[FRPSUHQG WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO 3XLVVDQFHWRWDOHDEVRUEpHN:
FDVLHUVjRHXIV 7RXFKHVVHQVLWLYHV &kEOHGHUDFFRUGHPHQWPDYHF
SULVH
$FFHVVRLUHVHQRSWLRQ &DUDFWpULVWLTXHVWHFKQLTXHV
5$ ࡱ 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
3UpVHQWRLU ࡱ+7 6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD
SRXUERXWHLOOHHQERLVG
pUDEOHKXLOp SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUHGH
DYHFFRQQHFWHXUPDJQpWLTXHLQWpJUp
5$ ࡱ $ODUPHHQFDVGHSRUWHRXYHUWHRXGH
%RvWHGHFRQVHUYDWLRQ ࡱ+7 G\VIRQFWLRQQHPHQW
DYHFFRXYHUFOHWUDQVSDUHQW$QWKUDFLWH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
5pIULJpUDWHXU
6XSHU5pIULJpUDWLRQ
7HPSpUDWXUHUpJODEOHGH&j&
WDEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXUGRQW
HQWLqUHPHQWH[WUDFWLEOH
pWDJqUHHQYHUUHEODQFVDWLQp
SUpVHQWRLUVSRXUERXWHLOOHLQGLYLGXHOOH
HQERLVG
pUDEOHPDVVLIKXLOpDYHF
FRQQHFWHXUPDJQpWLTXHLQWpJUp
HWSRVVLELOLWpGHSODFHUMXVTX
j
SUpVHQWRLUVSDUpWDJqUH
3RVVLELOLWpGHSODFHUERXWHLOOHV
PD[LPXPVXUXQHpWDJqUHDYHF
SUpVHQWRLUVLQGLYLGXHOVERXWHLOOHV
VWDQGDUGGHO
/HVSUpVHQWRLUVLQGLYLGXHOVGHERXWHLOOH
VRQWpJDOHPHQWDGDSWpVDX[ERXWHLOOHV
GHFKDPSDJQHHWDX[PDJQXPV
JUDQGEDOFRQQHWHQDOXPLQLXPSRXU
ERXWHLOOHVGDQVODFRQWUHSRUWH
EDOFRQQHWVHQDOXPLQLXPGDQVOD
FRQWUHSRUWH
(FODLUDJHLQWpULHXUEODQFFKDXG
.DYHFpOHPHQWVG
pFODLUDJH
DQWLpEORXLVVHPHQWLQWpJUpVODWpUDOHPHQW
9ROXPHQHWOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQJpODWHXU9DULR6pULH
5)
² ,QWpULHXUDYHFGHVpOpPHQWVHQ
DOXPLQLXP*DJJHQDX/LJKW%URQ]H
DVVHPEOpVDYHFSUpFLVLRQ
² (WDJqUHVHQYHUUHGHVpFXULWp
HQFDGUpHVSDUGHVSURILOpVHQ
DOXPLQLXPPDVVLI
² 7LURLUVDYHFSRLJQpHVHQDOXPLQLXP
HWIDFHDYDQWGHVWLURLUVDYHFXQ
GpJUDGpJLYUp
² (FODLUDJHLQWpULHXUEODQFFKDXG
.DYHFpOpPHQWVG
pFODLUDJH
DQWLpEORXLVVHPHQWLQWpJUpV
ODWpUDOHPHQW
² $FFqVGLUHFWJUkFHDX[VXUIDFHVGH
UDQJHPHQWRXYHUWHV
² &RPELQDEOHHQFRQILJXUDWLRQ
6LGHE\6LGHDYHFOHUpIULJpUDWHXU
5&
² &RPELQDLVRQSRVVLEOHHQ
೦1RXYHDX FRQILJXUDWLRQ6LGHE\6LGHDYHFOD
5)೦ ࡱ FDYHjYLQ5:
7RXWLQWpJUDEOH ࡱ+7 ² 6\VWqPH6RIWFORVHIHUPHWXUH
/DUJHXUGHODQLFKHFP GRXFHHWVLOHQFLHXVHGHODSRUWH
+DXWHXUGHODQLFKHFP ² 9ROXPHQHWWRWDOOLWUHV
/HSUL[FRPSUHQG %DQGHDXGHFRPPDQGH
DFFXPXODWHXUVGHIURLG &RQWU{OHpOHFWURQLTXHGHOD
EDFjJODoRQV WHPSpUDWXUHHWDIILFKDJHGHOD
WHPSpUDWXUH
7RXFKHVVHQVLWLYHV
&DUDFWpULVWLTXHVWHFKQLTXHV
5pSDUWLWLRQG\QDPLTXHGXIURLG
6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD
SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
GH
$ODUPHHQFDVGHSRUWHRXYHUWHRXGH
G\VIRQFWLRQQHPHQW
&RQJpODWHXU
6\VWqPH1R)URVWDYHF6XSHU
&RQJpODWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
&RPSDUWLPHQWFRQJpODWHXUpWRLOHV
&DSDFLWpGHFRQJpODWLRQNJ
HQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
WLURLUVGHFRQJpODWLRQGRQWJUDQG
YROXPHDPRYLEOHV
pWDJqUHVHQYHUUHGHVpFXULWp
DPRYLEOHV
9ROXPHQHWOLWUHV
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH(VXU
XQHpFKHOOHGH$j*
&RQVRPPDWLRQG
pQHUJLHN:KDQ
1LYHDXVRQRUH'%UHS:
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHSDQWRJUDSKH
&KDUQLqUHVjJDXFKHUpYHUVLEOHV
$QJOHG
RXYHUWXUHGHSRUWH
SHXWrWUHEORTXpj
3RLGVPD[LGHO
KDELOODJHGHODSRUWH
NJ
3RXUXQHLQVWDOODWLRQHQ6LGHE\6LGH
FKDTXHDSSDUHLOGRLWrWUHLQVWDOOpGDQV
VDSURSUHQLFKH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
$SSDUHLOVGHIURLG
&RQVRPPDWLRQV
&ODVVHG
HZFDFLWppQHUJpWLTXH'
&RPELQpUpIULJpUDWHXUFRQJpODWHXU VXUXQHpFKHOOHGH$j*
6pULH &RQVRPPDWLRQG
pQHUJLHN:KDQ
5% 1LYHDXVRQRUH'%UHS:
² ]RQHVFOLPDWLTXHVGRQWWLURLUV &RQVHLOVG
LQVWDOODWLRQ
IUDvFKHXUSURFKHGH& &KDUQLqUHSDQWRJUDSKH
² 7DEOHWWHVHQYHUUHGHVpFXULWp &KDUQLqUHVjGURLWHUpYHUVLEOHV
UpJODEOHVHQKDXWHXU $QJOHG
RXYHUWXUHGHSRUWH
² &RPSDUWLPHQWVSURILOpDOXPLQLXP SHXWrWUHEORTXpj
GDQVODFRQWUHSRUWH 3RLGVPD[LGHO
KDELOODJHGHVSRUWHV
² 6\VWqPH6RIWFORVHIHUPHWXUH 3RUWHGXKDXWNJ
GRXFHHWVLOHQFLHXVHGHODSRUWH 3RUWHGXEDVNJ
² 9ROXPHQHWWRWDOOLWUHV
9DOHXUVGHUDFFRUGHPHQW
² &ODVVHG
HIILFDFLWppQHUJpWLTXH'
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
%DQGHDXGHFRPPDQGH &kEOHGHUDFFRUGHPHQWP
&RQWU{OHpOHFWURQLTXHGHOD DYHFSULVH
WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO
7RXFKHVVHQVLWLYHV
೦1RXYHDX
5% ೦ ࡱ &DUDFWpULVWLTXHVWHFKQLTXHV
=RQHIUDvFKHXUSURFKH ࡱ+7 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
GH& 6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD
7RXWLQWpJUDEOH SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
+RPH&RQQHFW GH
/DUJHXUGHODQLFKHFP $ODUPHHQFDVGHSRUWHRXYHUWHRXGH
+DXWHXUGHODQLFKHFP G\VIRQFWLRQQHPHQW
/HSUL[FRPSUHQG 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
DFFXPXODWHXUVGHIURLG PRGH'LJLWDO+RPH&RQQHFW
FDVLHUVj±XIV /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
FOD\HWWHjYLQHWFKDPSDJQH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
EDFjJODoRQV GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
$FFHVVRLUHVHQRSWLRQ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
5$ ࡱ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
%RvWHGHFRQVHUYDWLRQ ࡱ+7 ZZZKRPHFRQQHFWFRP
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH
5pIULJpUDWHXU
6XSHU5pIULJpUDWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
WDEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXUGRQW
HQWLqUHPHQWH[WUDFWLEOH
WDEOHWWH
6XSSRUWFURFKHWHQDFLHUSRXU
ERXWHLOOHVGHYLQRXFKDPSDJQH
HQWLqUHPHQWUpWUDFWDEOH
ODUJHEDOFRQQHWSURILOpDOXPLQLXP
SRXUERXWHLOOHVGDQVODFRQWUHSRUWH
DYHFXQIL[DWHXUGHERXWHLOOHVUpJODEOH
EDOFRQQHWSURILOpDOXPLQLXPGDQVOD
FRQWUHSRUWH
(FODLUDJHLQWpULHXUOXPLQHX[pOpPHQWV
G
pFODLUDJHDQWLpEORXLVVHPHQWLQWpJUpV
ODWpUDOHPHQW
9ROXPHQHWOLWUHV
=RQHIUDvFKHXUSURFKHGH&
WLURLUIUDvFKHXUSURFKHGH&
pFODLUp
HQWLqUHPHQWH[WUDFWLEOH
5pJODJHPDQXHOGHO
KXPLGLWp
,GpDOSRXUIUXLWVHWOpJXPHV
,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
9ROXPHQHWOLWUHV
&RQJpODWHXU
6\VWqPH1R)URVWDYHF6XSHU
&RQJpODWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
&RPSDUWLPHQWFRQJpODWHXUpWRLOHV
$LGHDXGpJLYUDJH
&DSDFLWpGHFRQJpODWLRQNJHQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
WLURLUVGHFRQJpODWLRQGRQWH[WUD
JUDQGYROXPH
WDEOHWWHVHQYHUUHGHVpFXULWp
9ROXPHQHWOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
5pIULJpUDWHXUFRQJpODWHXU6pULH &RQVRPPDWLRQV
57 &ODVVHG
HIILFDFLWppQHUJpWLTXH(
VXUXQHpFKHOOHGH$j*
² ]RQHVFOLPDWLTXHVGRQWWLURLUV &RQVRPPDWLRQG
pQHUJLHN:KDQ
IUDvFKHXUSURFKHGH& 1LYHDXVRQRUH'%UHS:
² 7DEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXU &RQVHLOVG
LQVWDOODWLRQ
² &RPSDUWLPHQWVSURILOpDOXPLQLXP &KDUQLqUHSDQWRJUDSKH
GDQVODFRQWUHSRUWH &KDUQLqUHVjGURLWHUpYHUVLEOHV
² 6\VWqPH6RIWFORVHIHUPHWXUH $QJOHG
RXYHUWXUHGHSRUWH
GRXFHHWVLOHQFLHXVHGHODSRUWH SHXWrWUHEORTXpj
² 9ROXPHQHWWRWDOOLWUHV 3RLGVPD[LGHO
KDELOODJHGHODSRUWH
² &ODVVHG
HIILFDFLWppQHUJpWLTXH( NJ
%DQGHDXGHFRPPDQGH 9DOHXUVGHUDFFRUGHPHQW
&RQWU{OHpOHFWURQLTXHGHOD 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO N:
7RXFKHVVHQVLWLYHV &kEOHGHUDFFRUGHPHQWPDYHF
SULVH
೦1RXYHDX &DUDFWpULVWLTXHVWHFKQLTXHV
57೦ ࡱ 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
=RQHIUDvFKHXU ࡱ+7 6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD
SURFKHGH& SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
7RXWLQWpJUDEOH GH
+RPH&RQQHFW $ODUPHHQFDVGHSRUWHRXYHUWHRX
/DUJHXUGHODQLFKHFP GHG\VIRQFWLRQQHPHQW
+DXWHXUGHODQLFKHFP
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
/HSUL[FRPSUHQG PRGH'LJLWDO+RPH&RQQHFW
FDVLHUVjRHXIV /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
FOD\HWWHjYLQHWFKDPSDJQH &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
EDFjJODoRQVDYHFFRXYHUFOH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
$FFHVVRLUHVHQRSWLRQ &RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
5$ ࡱ WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
%RvWHGHFRQVHUYDWLRQ ࡱ+7 ZZZKRPHFRQQHFWFRP
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH
5pIULJpUDWHXU
6XSHU5pIULJpUDWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
WDEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXUGRQW
HQWLqUHPHQWH[WUDFWLEOH
WDEOHWWH
6XSSRUWFURFKHWHQDFLHUSRXU
ERXWHLOOHVGHYLQRXGHFKDPSDJQH
HQWLqUHPHQWUpWUDFWDEOH
JUDQGEDOFRQQHWSURILOpDOXPLQLXP
SRXUERXWHLOOHVGDQVODFRQWUHSRUWH
DYHFXQIL[DWHXUGHERXWHLOOHVUpJODEOH
EDOFRQQHWVSURILOpVDOXPLQLXPGDQV
ODFRQWUHSRUWH
(FODLUDJHLQWpULHXUOXPLQHX[pOpPHQWV
G
pFODLUDJHDQWLpEORXLVVHPHQWLQWpJUpV
ODWpUDOHPHQW
9ROXPHQHWOLWUHV
=RQHIUDvFKHXUSURFKHGH&
WLURLUIUDvFKHXUSURFKHGH&
pFODLUp
HQWLqUHPHQWH[WUDFWLEOH
5pJODJHPDQXHOGHO
KXPLGLWp
,GpDOSRXUIUXLWVHWOpJXPHV
WLURLUVIUDvFKHXUSURFKHGH&
pFODLUpVHQWLqUHPHQWH[WUDFWLEOHV
,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
9ROXPHQHWOLWUHV
&RQJpODWHXU
7HPSpUDWXUHGHFRQVHUYDWLRQ&
HWSOXVIURLG
&RPSDUWLPHQWFRQJpODWHXUpWRLOHV
&DSDFLWpGHFRQJpODWLRQNJHQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
9ROXPHQHWOLWUHV
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
&RQJpODWHXU6pULH 9DOHXUVGHUDFFRUGHPHQW
57 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
² ]RQHVFOLPDWLTXHVGRQWWLURLU &kEOHGHUDFFRUGHPHQWPDYHF
]RQHIUDvFKHXUDYHFKXPLGLWp SULVH
UpJODEOHPDQXHOOHPHQW
² 7DEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXU
² &RPSDUWLPHQWVSURILOpDOXPLQLXP
GDQVODFRQWUHSRUWH
² 6\VWqPH6RIWFORVHIHUPHWXUH
GRXFHHWVLOHQFLHXVHGHODSRUWH
² 9ROXPHQHWWRWDOOLWUHV
%DQGHDXGHFRPPDQGH
&RQWU{OHpOHFWURQLTXHGHOD
WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO
7RXFKHVVHQVLWLYHV
೦1RXYHDX &DUDFWpULVWLTXHVWHFKQLTXHV
57೦ ࡱ 5pSDUWLWLRQG\QDPLTXHGXIURLG
7RXWLQWpJUDEOH ࡱ+7 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
/DUJHXUGHODQLFKHFP 6\VWqPHGHIHUPHWXUH6RIWFORVHGH
+DXWHXUGHODQLFKHFP ODSRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
GH
/HSUL[FRPSUHQG $ODUPHHQFDVGHSRUWHRXYHUWHRX
FDVLHUVjRHXIV GHG\VIRQFWLRQQHPHQW
FOD\HWWHjYLQHWFKDPSDJQH
EDFjJODoRQV 5pIULJpUDWHXU
7HPSpUDWXUHUpJODEOHGH&j
$FFHVVRLUHVHQRSWLRQ &
5$ ࡱ WDEOHWWHVHQYHUUHGHVpFXULWpGRQW
%RvWHGHFRQVHUYDWLRQ ࡱ+7 HQWLqUHPHQWH[WUDFWLEOHHWUpJODEOHV
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH HQKDXWHXU
WDEOHWWH
6XSSRUWFURFKHWHQDFLHUSRXU
ERXWHLOOHVGHYLQRXGHFKDPSDJQH
HQWLqUHPHQWUpWUDFWDEOH
JUDQGEDOFRQQHWSURILOpDOXPLQLXP
SRXUERXWHLOOHVGDQVODFRQWUHSRUWH
DYHFXQIL[DWHXUGHERXWHLOOHVUpJODEOH
EDOFRQQHWVSURILOpVDOXPLQLXPGDQV
ODFRQWUHSRUWH
WLURLUjOpJXPHV
(FODLUDJHLQWpULHXUOXPLQHX[pOpPHQWV
G
pFODLUDJHDQWLpEORXLVVHPHQWLQWpJUpV
ODWpUDOHPHQW
9ROXPHQHWOLWUHV
=RQHIUDvFKHXU
WLURLUIUDvFKHXUJUDQGHODUJHXU
5pJODJHPDQXHOGHO
KXPLGLWp
,GpDOSRXUIUXLWVHWOpJXPHV
&RQJpODWHXU
6XSHU&RQJpODWLRQ
7HPSpUDWXUHGHFRQVHUYDWLRQ&
HWSOXVIURLG
&RPSDUWLPHQWFRQJpODWHXUpWRLOHV
&DSDFLWpGHFRQJpODWLRQNJHQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
9ROXPHQHWOLWUHV
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH)VXU
XQHpFKHOOHGH$j*
&RQVRPPDWLRQG
pQHUJLHN:KDQ
1LYHDXVRQRUH'%UHS:
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHSDQWRJUDSKH
&KDUQLqUHVjGURLWHUpYHUVLEOHV
$QJOHG
RXYHUWXUHGHSRUWH
SHXWrWUHEORTXpj
3RLGVPD[LGHO
KDELOODJHGHODSRUWH
NJ
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
5pIULJpUDWHXU6pULH &RQVHLOVG
LQVWDOODWLRQ
5& &KDUQLqUHSDQWRJUDSKH
&KDUQLqUHVjGURLWHUpYHUVLEOHV
² ]RQHVFOLPDWLTXHVGRQWWLURLUV $QJOHG
RXYHUWXUHGHSRUWH
IUDvFKHXUSURFKHGH& SHXWrWUHEORTXpj
² 7DEOHWWHVHQYHUUHGHVpFXULWp 3RLGVPD[LGHO
KDELOODJHGHODSRUWH
UpJODEOHVHQKDXWHXU NJ
² &RPSDUWLPHQWVSURILOpDOXPLQLXP 3RXUXQHLQVWDOODWLRQHQ6LGHE\6LGH
GDQVODFRQWUHSRUWH FKDTXHDSSDUHLOGRLWrWUHLQVWDOOpGDQV
² &RPELQDLVRQSRVVLEOHHQ VDSURSUHQLFKH
FRQILJXUDWLRQ6LGHE\6LGHDYHF
OHFRQJpODWHXU5) 9DOHXUVGHUDFFRUGHPHQW
² 6\VWqPH6RIWFORVHIHUPHWXUH 3XLVVDQFHWRWDOHDEVRUEpHN:
GRXFHHWVLOHQFLHXVHGHODSRUWH &kEOHGHUDFFRUGHPHQWPDYHF
² 9ROXPHQHWWRWDOOLWUHV SULVH
² &ODVVHG
HIILFDFLWppQHUJpWLTXH'
%DQGHDXGHFRPPDQGH
೦1RXYHDX &RQWU{OHpOHFWURQLTXHGHOD
5&೦ ࡱ WHPSpUDWXUHDYHFDIILFKDJHGLJLWDO
=RQHIUDvFKHXU ࡱ+7 7RXFKHVVHQVLWLYHV
SURFKHGH&
7RXWLQWpJUDEOH &DUDFWpULVWLTXHVWHFKQLTXHV
+RPH&RQQHFW 'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
/DUJHXUGHODQLFKHFP 6\VWqPHGHIHUPHWXUH6RIWFORVHGH
+DXWHXUGHODQLFKHFP ODSRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
GH
/HSUL[FRPSUHQG $ODUPHHQFDVGHSRUWHRXYHUWHRXGH
FDVLHUVjRHXIV G\VIRQFWLRQQHPHQW
FOD\HWWHjYLQHWFKDPSDJQH
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
$FFHVVRLUHVHQRSWLRQ PRGH'LJLWDO+RPH&RQQHFW
5$ ࡱ /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
%RvWHGHFRQVHUYDWLRQ ࡱ+7 &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
5pIULJpUDWHXU
6XSHU5pIULJpUDWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
WDEOHWWHVHQYHUUHGHVpFXULWp
UpJODEOHVHQKDXWHXUGRQW
HQWLqUHPHQWH[WUDFWLEOH
WDEOHWWH
6XSSRUWFURFKHWHQDFLHUSRXU
ERXWHLOOHVGHYLQRXFKDPSDJQH
HQWLqUHPHQWUpWUDFWDEOH
ODUJHEDOFRQQHWSURILOpDOXPLQLXP
SRXUERXWHLOOHVGDQVODFRQWUHSRUWH
DYHFXQIL[DWHXUGHERXWHLOOHVUpJODEOH
EDOFRQQHWVSURILOpVDOXPLQLXPGDQV
ODFRQWUHSRUWH
(FODLUDJHLQWpULHXUOXPLQHX[pOpPHQWV
G
pFODLUDJHDQWLpEORXLVVHPHQWLQWpJUpV
ODWpUDOHPHQW
9ROXPHQHWOLWUHV
=RQHIUDvFKHXUSURFKHGH&
WLURLUIUDvFKHXUSURFKHGH&
pFODLUp
HQWLqUHPHQWH[WUDFWLEOH
5pJODJHPDQXHOGHO
KXPLGLWp
,GpDOSRXUIUXLWVHWOpJXPHV
WLURLUVIUDvFKHXUSURFKHGH&
pFODLUpVHQWLqUHPHQWH[WUDFWLEOHV
,GpDOSRXUYLDQGHSRLVVRQHWYRODLOOH
9ROXPHQHWOLWUHV
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH'
VXUXQHpFKHOOHGH$j*
&RQVRPPDWLRQG
pQHUJLHN:KDQ
1LYHDXVRQRUH'%UHS:
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
&RQJpODWHXU6pULH
5)
² &RQILJXUDWLRQLQWpULHXUHIOH[LEOH
WRXVOHVWLURLUVHWWDEOHWWHVHQYHUUH
GHVpFXULWpVRQWDPRYLEOHV
² &RPELQDLVRQSRVVLEOHHQ
FRQILJXUDWLRQ6LGHE\6LGHDYHFOH
UpIULJpUDWHXU5&
² &RPELQDLVRQSRVVLEOHHQ
FRQILJXUDWLRQ6LGHE\6LGHDYHF
ODFDYHjYLQ5:
² 6\VWqPH6RIWFORVHIHUPHWXUH
GRXFHHWVLOHQFLHXVHGHODSRUWH
² 9ROXPHQHWWRWDOOLWUHV
%DQGHDXGHFRPPDQGH
&RQWU{OHpOHFWURQLTXHGHOD
WHPSpUDWXUHHWDIILFKDJHGHOD
೦1RXYHDX WHPSpUDWXUH
5)೦ ࡱ 7RXFKHVVHQVLWLYHV
7RXWLQWpJUDEOH ࡱ+7
/DUJHXUGHODQLFKHFP &DUDFWpULVWLTXHVWHFKQLTXHV
+DXWHXUGHODQLFKHFP 5pSDUWLWLRQG\QDPLTXHGXIURLG
6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD
/HSUL[FRPSUHQG SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
DFFXPXODWHXUVGHIURLG GH
EDFjJODoRQV $ODUPHHQFDVGHSRUWHRXYHUWHRX
GHG\VIRQFWLRQQHPHQW
&RQJpODWHXU
6\VWqPH1R)URVWDYHF6XSHU
&RQJpODWLRQ
7HPSpUDWXUHUpJODEOHGH&
j&
&RPSDUWLPHQWFRQJpODWHXUpWRLOHV
&DSDFLWpGHFRQJpODWLRQNJHQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
WLURLUVGHFRQJpODWLRQGRQWH[WUD
JUDQGYROXPH
WDEOHWWHVHQYHUUHGHVpFXULWpHQWUH
OHVWLURLUVGHFRQJpODWLRQ
WDEOHWWHVHQYHUUHGHVpFXULWpDYHF
XQFODSHWDYDQWWUDQVSDUHQW
7RXVOHVWLURLUVGHFRQJpODWLRQHWOHV
WDEOHWWHVHQYHUUHGHVpFXULWpVRQW
DPRYLEOHV
9ROXPHQHWOLWUHV
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH)VXU
XQHpFKHOOHGH$j*
&RQVRPPDWLRQG
pQHUJLHN:KDQ
1LYHDXVRQRUH'%UHS:
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHSDQWRJUDSKH
&KDUQLqUHVjJDXFKHUpYHUVLEOHV
$QJOHG
RXYHUWXUHGHSRUWH
SHXWrWUHEORTXpj
3RLGVPD[LGHO
KDELOODJHGHODSRUWH
NJ
3RXUXQHLQVWDOODWLRQHQ6LGHE\6LGH
FKDTXHDSSDUHLOGRLWrWUHLQVWDOOpGDQV
VDSURSUHQLFKH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
5pIULJpUDWHXUFRQJpODWHXU6pULH
57
² 6\VWqPH6RIWFORVHIHUPHWXUH
GRXFHHWVLOHQFLHXVHGHODSRUWH
² 9ROXPHQHWWRWDOOLWUHV
&DUDFWpULVWLTXHVWHFKQLTXHV
'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ
6\VWqPHGHIHUPHWXUH6RIWFORVHGH
ODSRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
GH
೦1RXYHDX 5pIULJpUDWHXU
57 ࡱ WDEOHWWHVHQYHUUHGHVpFXULWp
,QWpJUDEOHVRXVSODQ ࡱ+7 GRQWUpJODEOHHQKDXWHXU
/DUJHXUGHODQLFKHFP WLURLUFRXOLVVDQW
+DXWHXUGHODQLFKHFP EDFjOpJXPHV
JUDQGFRPSDUWLPHQWSRXUERXWHLOOHV
/HSUL[FRPSUHQG GDQVODFRQWUHSRUWH
FDVLHUjRHXIV FRPSDUWLPHQWVGDQVODFRQWUHSRUWH
EDFjJODoRQV (FODLUDJHLQWpULHXUOXPLQHX[
9ROXPHQHWOLWUHV
$FFHVVRLUHVHQRSWLRQ
5$ ࡱ &RQJpODWHXU
%RvWHGHFRQVHUYDWLRQ ࡱ+7 7HPSpUDWXUHGHFRQVHUYDWLRQ&
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH HWSOXVIURLG
&RQJpODWHXUpWRLOHV
&DSDFLWpGHFRQJpODWLRQNJHQK
$XWRQRPLHGHKHQFDVGHFRXSXUH
GHFRXUDQW
9ROXPHQHWOLWUHV
&RQVRPPDWLRQV
&ODVVHG
HIILFDFLWppQHUJpWLTXH)VXU
XQHpFKHOOHGH$j*
&RQVRPPDWLRQG
pQHUJLHN:KDQ
1LYHDXVRQRUH'%UHS:
&RQVHLOVG
LQVWDOODWLRQ
&KDUQLqUHSDQWRJUDSKH
&KDUQLqUHVjGURLWHUpYHUVLEOHV
$QJOHG
RXYHUWXUHGHSRUWH
SHXWrWUHEORTXpj
3RLGVPD[LGHO
KDELOODJHGHODSRUWH
NJ
3LHGVUpJODEOHVHQKDXWHXU
+DXWHXUGXVRFOHUpJODEOHGH
PPSRXUKDXWHXUGHQLFKHPP
+DXWHXUGXVRFOHUpJODEOHGH
PPSRXUKDXWHXUGHQLFKHPP
/DJULOOHG
DpUDWLRQOLYUpHGRLWrWUH
XWLOLVpH
/DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
ODQLFKH
9DOHXUVGHUDFFRUGHPHQW
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
N:
&kEOHGHUDFFRUGHPHQWPDYHF
SULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
$SSDUHLOVGHIURLG
5pIULJpUDWHXU6pULH &RQJpODWHXU6pULH
5& 5)
² &RPELQDEOHDYHFOHFRQJpODWHXU ² &RPELQDEOHDYHFOHUpIULJpUDWHXU
5)6LGHE\6LGH 5&6LGHE\6LGH
² 6\VWqPH6RIWFORVHIHUPHWXUH ² 6\VWqPH6RIWFORVHIHUPHWXUH
GRXFHHWVLOHQFLHXVHGHODSRUWH GRXFHHWVLOHQFLHXVHGHODSRUWH
² 9ROXPHQHWWRWDOOLWUHV ² 9ROXPHQHWWRWDOOLWUHV
&DUDFWpULVWLTXHVWHFKQLTXHV &DUDFWpULVWLTXHVWHFKQLTXHV
'pJLYUDJHDXWRPDWLTXHSDUpYDSRUDWLRQ 6\VWqPHGHIHUPHWXUH6RIWFORVHGH
6\VWqPHGHIHUPHWXUH6RIWFORVHGHOD ODSRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH
SRUWHjSDUWLUG
XQDQJOHG
RXYHUWXUH GH
೦1RXYHDX GH ೦1RXYHDX $ODUPHGHG\VIRQFWLRQQHPHQW
5& ೦ ࡱ 5) ೦ ࡱ
,QWpJUDEOHVRXVSODQ ࡱ+7 5pIULJpUDWHXU ,QWpJUDEOHVRXVSODQ ࡱ+7 &RQJpODWHXU
/DUJHXUGHODQLFKHFP WDEOHWWHVHQYHUUHGHVpFXULWp /DUJHXUGHODQLFKHFP 6XSHU&RQJpODWLRQ
+DXWHXUGHODQLFKHFP GRQWUpJODEOHVHQKDXWHXU +DXWHXUGHODQLFKHFP 5pJODJHGHODWHPSpUDWXUH
WLURLUFRXOLVVDQW &RPSDUWLPHQWFRQJpODWHXUpWRLOHV
/HSUL[FRPSUHQG EDFjOpJXPHV /HSUL[FRPSUHQG &DSDFLWpGHFRQJpODWLRQNJHQK
FDVLHUjRHXIV JUDQGFRPSDUWLPHQWSRXUERXWHLOOHV DFFXPXODWHXUVGHIURLG $XWRQRPLHGHKHQFDVGHFRXSXUH
GDQVODFRQWUHSRUWH EDFjJODoRQV GHFRXUDQW
$FFHVVRLUHVHQRSWLRQ FRPSDUWLPHQWVGDQVODFRQWUHSRUWH WLURLUVGHFRQJpODWLRQ
5$ ࡱ (FODLUDJHLQWpULHXUOXPLQHX[ 9ROXPHQHWOLWUHV
%RvWHGHFRQVHUYDWLRQ ࡱ+7 9ROXPHQHWOLWUHV
DYHFFRXYHUFOHWUDQVSDUHQW$QWKUDFLWH &RQVRPPDWLRQV
&RQVRPPDWLRQV &ODVVHG
HIILFDFLWppQHUJpWLTXH)
&ODVVHG
HIILFDFLWppQHUJpWLTXH)VXU VXUXQHpFKHOOHGH$j*
XQHpFKHOOHGH$j* &RQVRPPDWLRQG
pQHUJLHN:KDQ
&RQVRPPDWLRQG
pQHUJLHN:KDQ 1LYHDXVRQRUH'%UHS:
1LYHDXVRQRUH'%UHS:
&RQVHLOVG
LQVWDOODWLRQ
&RQVHLOVG
LQVWDOODWLRQ &KDUQLqUHSDQWRJUDSKH
&KDUQLqUHSDQWRJUDSKH &KDUQLqUHVjGURLWHUpYHUVLEOHV
&KDUQLqUHVjGURLWHUpYHUVLEOHV $QJOHG
RXYHUWXUHGHSRUWH
$QJOHG
RXYHUWXUHGHSRUWH SHXWrWUHEORTXpj
SHXWrWUHEORTXpj 3RLGVPD[LGHO
KDELOODJHGHODSRUWH
3RLGVPD[LGHO
KDELOODJHGHODSRUWH NJ
NJ 3LHGVUpJODEOHVHQKDXWHXU
3LHGVUpJODEOHVHQKDXWHXU +DXWHXUGXVRFOHUpJODEOHGH
+DXWHXUGXVRFOHUpJODEOHGH PPSRXUKDXWHXUGHQLFKHPP
PPSRXUKDXWHXUGHQLFKHPP +DXWHXUGXVRFOHUpJODEOHGH
+DXWHXUGXVRFOHUpJODEOHGH PPSRXUKDXWHXUGHQLFKHPP
PPSRXUKDXWHXUGHQLFKHPP /DJULOOHG
DpUDWLRQOLYUpHGRLWrWUH
/DJULOOHG
DpUDWLRQOLYUpHGRLWrWUH XWLOLVpH
XWLOLVpH /DSULVHGRLWrWUHSUpYXHHQGHKRUVGH
/DSULVHGRLWrWUHSUpYXHHQGHKRUVGH ODQLFKH
ODQLFKH
9DOHXUVGHUDFFRUGHPHQW
9DOHXUVGHUDFFRUGHPHQW 3XLVVDQFHGHUDFFRUGHPHQWWRWDOH
3XLVVDQFHGHUDFFRUGHPHQWWRWDOH N:
N: &kEOHGHUDFFRUGHPHQWP
&kEOHGHUDFFRUGHPHQWP DYHFSULVH
DYHFSULVH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
&RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHVSRXUDSSDUHLOVGH)URLG
9DULR6pULHHWDSSDUHLOVGH)URLG6pULH
(PSODFHPHQWG·LQVWDOODWLRQ 'LPHQVLRQVGHVDFFHVVRLUHVVSpFLDX[&DGUHG·KDELOODJHGHSRUWH
SRXU5:HW5:
/·DSSDUHLOGRLWrWUHLQVWDOOpGDQVXQORFDOVHFHWELHQDpUp/·DSSDUHLOQHGRLWSDVrWUH
GLUHFWHPHQWH[SRVpDX[UD\RQVGXVROHLOQLrWUHLQVWDOOpjSUR[LPLWpG·XQHVRXUFHGH /HVVFKpPDVFLGHVVRXVLQGLTXHQWOHVGLPHQVLRQVGHEDVHGHVDFFHVVRLUHV
FKDOHXUFRPPHXQFKDXIIDJHXQUDGLDWHXUXQHFXLVLQLqUHRXXQIRXUHWF« VSpFLDX[&DGUHG·KDELOODJHGHSRUWHSRXU5:HW5:
6LO·LQVWDOODWLRQjF{WpG·XQHVRXUFHGHFKDOHXUHVWLQpYLWDEOHLOIDXWREOLJDWRLUHPHQW /HVGLPHQVLRQVLQGLTXpHVWLHQQHQWFRPSWHGHVVSpFLILFDWLRQVGHEDVHVXLYDQWHV
UHVSHFWHUOHVGLVWDQFHVPLQLPDOHVVXLYDQWHVDYHFODVRXUFHGHFKDOHXU ² (SDLVVHXUGXSDQQHDXG·KDELOODJHPP
² FPSDUUDSSRUWjXQHFXLVLQLqUHpOHFWULTXHRXDXJD] ² (FDUWPP
² FPSDUUDSSRUWjXQIRXUpOHFWULTXHRXDXJD]
² FPSDUUDSSRUWjXQHFKDXGLqUHDXILRXORXjFKDUERQ
,PSRUWDQW
/HVVFKpPDVFLGHVVRXVQHUHPSODFHQWSDVXQHSODQLILFDWLRQGpWDLOOpH
(FDUWSDUUDSSRUWDX[PHXEOHVDGMDFHQWVUHODWLIjO·pSDLVVHXUGXSDQQHDX
/HUHVSHFWGHVH[LJHQFHVVSpFLILTXHVGXGHVLJQGHODFXLVLQHHVWHVVHQWLHOOH
G·KDELOODJHHWDXUD\RQ
/·pSDLVVHXUGXSDQQHDXG·KDELOODJHGpSHQGGHVVSpFLILFLWpVGHVSRUWHVG·KDELOODJH
GXFOLHQWHWSHXWrWUHFRPSULVHHQWUHHWPP Hauteur de la niche 178 cm
,QVWDOODWLRQ6LGHE\6LGH
/HVDSSDUHLOVGH)URLG9DULR6pULHHW)URLG6pULHSHXYHQWrWUHLQVWDOOpV
HQ6LGHE\VLGHGDQVOHXUSURSUHFRORQQHLQGLYLGXHOOHGDQVOHVFRQILJXUDWLRQV
VXLYDQWHV
5:5:
5&5)DXFXQDXWUHW\SHG
DSSDUHLOjF{WpGH5&
5:5)DXFXQDXWUHW\SHG
DSSDUHLOjF{WpGH5:jO
H[FHSWLRQG
XQDXWUH5:
3RXUWRXWHVOHVDXWUHVFRQILJXUDWLRQVXQHVSDFHPLQLPXPGHPPGRLWrWUH
UHVSHFWpHQWUHOHVDSSDUHLOV
Respecter les dimensions d’écart indiquées pour éviter toute collision Hauteur de la niche 122 cm
lors de l’ouverture de la porte de l’appareil de froid et ainsi éviter d’abîmer
le panneau d’habillage.
Mesures en mm
3DQQHDX[G·KDELOODJHGHSRUWH
3RLGVPD[LPXPDXWRULVpSRXUOHSDQQHDXG·KDELOODJH
3RLGVPD[LPXP
+DXWHXUGHODQLFKH 1RPEUHGHSRUWHV
DXWRULVp
FP9DULR RX NJFKDFXQH
FP6pULH NJ
FP6pULH NJFKDFXQH
FP6pULH NJ
FPFP&DYHjYLQ6pULH NJ
8QGpSDVVHPHQWGXSRLGVPD[LPXPDXWRULVpSHXWFRQGXLUHjXQHGpWpULRUDWLRQ
RXXQG\VIRQFWLRQQHPHQWGHVFKDUQLqUHVGHSRUWH
6RFOH
,PSRUWDQW
Epaisseur du panneau d’habillage 19 mm.
8QHYHQWLODWLRQLQVXIILVDQWHSURYRTXHGHVG\VIRQFWLRQQHPHQWVGHO·DSSDUHLO Les dimensions maximales du panneau d’habillage sont prévues
/HVRXYHUWXUHVSRXUO·HQWUpHG·DLUVLWXpHVGDQVOHVRFOHGHO·DSSDUHLOQHGRLYHQWrWUH pour un écart de 3 mm, basées sur une niche individuelle.
REWXUpHVVRXVDXFXQSUpWH[WH
Mesures en mm
,OIDXWSUpYRLUXQHRXYHUWXUHSRXUODYHQWLODWLRQDXQLYHDXGHO·HQWUpHG·DLUpTXLYDOHQWH
jFPòPLQLPXP
Appareils de froid 345
Caractéristiques
Capacité 80 bouteilles (bouteilles
standard de 0,75 L).
10 clayettes pour bouteilles,
dont 8 coulissantes.
Possibilité de placer des bouteilles
magnum.
Eclairage LED.
Volume net 254 litres.
Consommations
Classe d'efficacité énergétique G sur
une échelle de A à G.
Consommation d'énergie 181 kWh/an.
Niveau sonore 32 DB (re 1 pW).
Conseils d'installation
Charnière pantographe.
Charnières à droite, réversibles.
Pieds réglables en hauteur.
Angle d'ouverture de porte 115°,
peut être bloqué à 90°.
Poids maxi. de l'habillage de porte 20 kg.
Epaisseur du panneau d'habillage:
min. 16 mm / max. 22 mm.
La prise doit être prévue en dehors de
la niche.
Pour une installation en Side-by-Side,
chaque appareil doit être installé dans
sa propre niche.
Lors de la combinaison de la cave à
vins avec des appareils de froid autres
qu'une seconde cave à vin, il faut
respecter une distance minimale de
150 mm entre les appareils pour éviter
toute condensation.
Pas de transport/utilisation au delà de
1500 m d'altitude.
Bandeau de commande
Contrôle électronique de la
température avec affichage digital.
▾Nouveau Touches sensitives.
RW 222 262▾ 4.830 € Eclairage de présentation dans chaque
Entièrement (4.025,00 € HT) zone climatique, réglable en continu.
intégrable Eclairage intérieur, fonctionnement
Porte vitrée sans cadre habillage automatique lors de l'ouverture et de
Largeur de la niche 56 cm, la fermeture de porte.
Hauteur de la niche 122 cm
Caractéristiques techniques
Accessoires en option Répartition dynamique du froid.
RA 050 220 43 € Dégivrage automatique par évaporation.
1 filtre à charbon actif (35,83 € HT) Système de fermeture Softclose de
de remplacement, pour les 2 zones la porte intégré dans la charnière.
de température. 1 filtre à charbon actif pour les 2 zones
climatiques.
Accessoires d'installation Protection anti-UV.
RA 221 211 460 € Alarme en cas de porte ouverte
Cadre de porte (383,33 € HT) ou de dysfonctionnement.
en inox, avec poignée Sécurité enfants.
Pour RW 222
Epaisseur habillage 19 mm. Caractéristiques
RA 425 910 160 € Capacité 48 bouteilles (bouteilles
Poignée courte, inox (133,33 € HT) standard de 0,75 L).
Avec 2 fixations, longueur 810 mm 6 clayettes pour bouteilles,
intervalle de perçage 787 mm. dont 4 coulissantes.
Possibilité de placer des bouteilles
magnum.
Eclairage LED.
Volume net 158 litres.
Consommations
Classe d'efficacité énergétique G sur
une échelle de A à G.
Consommation d'énergie 167 kWh/an.
Niveau sonore 32 DB (re 1 pW).
Conseils d'installation
Charnière pantographe.
Charnières à droite, réversibles.
Pieds réglables en hauteur.
Angle d'ouverture de porte 115°,
peut être bloqué à 90°.
Poids maxi. de l'habillage de porte
20 kg.
Epaisseur du panneau d'habillage: min.
16 mm / max. 22 mm.
La prise doit être prévue en dehors de
la niche.
Pour une installation en Side-by-Side,
chaque appareil doit être installé dans
sa propre niche.
Lors de la combinaison de la cave à
vins avec des appareils de froid autres
qu'une seconde cave à vin, il faut
respecter une distance minimale de
150 mm entre les appareils pour éviter
toute condensation.
Pas de transport/utilisation au delà de
1500 m d'altitude.
Bandeau de commande
▾Nouveau Contrôle électronique de la
RW 404 262▾ 3.830 € température avec affichage digital.
Intégrable sous-plan, (3.191,67 € HT) Touches sensitives.
Porte vitrée avec cadre inox Eclairage de présentation dans chaque
Largeur de la niche 60 cm, zone climatique, réglable en continu.
Hauteur de la niche 82 cm Eclairage intérieur, fonctionnement
automatique lors de l'ouverture et de la
Accessoires en option fermeture de porte.
RA 050 220 43 €
1 filtre à charbon actif (35,83 € HT) Caractéristiques techniques
de remplacement, pour les 2 zones Répartition dynamique du froid.
de température. Dégivrage automatique par évaporation.
RA 097 600 232 € Système de fermeture Softclose de la Rangement des bouteilles
Accessoire (193,33 € HT) porte intégré dans la charnière.
d'installation en Side-by-Side 1 filtre à charbon actif pour les 2 zones
de 2 caves à vin sous plan. climatiques.
Protection anti-UV.
Alarme en cas de porte ouverte ou de
dysfonctionnement.
Filtre à poussière, lavable au
lave-vaisselle.
Caractéristiques
Capacité 34 bouteilles (bouteilles
standard de 0,75 L).
5 clayettes pour bouteilles,
dont 3 coulissantes.
Possibilité de placer des bouteilles
magnum.
Eclairage LED.
Volume net 94 litres.
Consommations
Classe d'efficacité énergétique G sur
une échelle de A à G.
Consommation d'énergie 158 kWh/an.
Niveau sonore 35 DB (re 1 pW).
Conseils d'installation
Charnière pantographe.
Charnières à droite, réversibles.
Pieds réglables en hauteur.
Angle d'ouverture de porte à 115°,
peut être bloqué à 95°.
En cas d'intégration à côté d'un mur,
espace latéral requis côté charnières
de 150 mm.
La prise doit être prévue en dehors
de la niche.
Pas de transport/utilisation au delà
de 1500 m d'altitude.
Valeurs de raccordement
Puissance de raccordement totale
0.13 kW.
Câble de raccordement 2.0 m avec
prise.
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
*1 ࡱ 5$ ࡱ
5pFLSLHQW ࡱ+7 $FFHVVRLUHࡱ+7
*DVWUR1RUPHQLQR[QRQSHUIRUp G
LQVWDOODWLRQHQ6LGHE\6LGH
3URIRQGHXUPPOLWUHV GHFDYHVjYLQVRXVSODQ
*1 ࡱ
5pFLSLHQW ࡱ+7
*DVWUR1RUPHQLQR[QRQSHUIRUp 5$ ࡱ
3URIRQGHXUPPOLWUHV 6HUUXUH ࡱ+7
SRXU5:
5$ ࡱ
5$ ࡱ 6XSSRUWHQFKrQH ࡱ+7
%RvWHGHFRQVHUYDWLRQ ࡱ+7 SRXUOHUDQJHPHQWGHVERXWHLOOHVVXU
DYHFFRXYHUFOHWUDQVSDUHQWDQWKUDFLWH OHSODWHDXGHVpSDUDWLRQGHV]RQHV
GHFOLPDWLVDWLRQ
3RXUDSSDUHLOODUJHXUFP
5$ ࡱ
%DFjJODoRQV ࡱ+7
SHWLWPRGqOHVLLQVWDOODWLRQ5)DYHF
RXYHUWXUHGHSRUWHj
/HEDFGRLWrWUHPLVHQSODFHDYDQW
GHEORTXHUO
DQJOHGHODSRUWH
5$ ࡱ
3ODWHDXpWDJqUH ࡱ+7
DPRYLEOHDYHFFDGUHHQFKrQH
&RQYLHQWSRXUOHVGpFDQWHXUVFDUDIHV
HWERXWHLOOHVRXYHUWHV
3RXUOHVDSSDUHLOVGHFP
5$ ࡱ
3ODWHDXpWDJqUH ࡱ+7
DPRYLEOHDYHFFDGUHHQFKrQH
&RQYLHQWSRXUOHVGpFDQWHXUVFDUDIHV
HWERXWHLOOHVRXYHUWHV
3RXUOHVDSSDUHLOVGHFP
5$ ࡱ
3UpVHQWRLUHQFKrQH ࡱ+7
HWDOXPLQLXPPDVVLI$QWKUDFLWHSRXUOD
SUpVHQWDWLRQG
XQHERXWHLOOHLQGLYLGXHOOH
/LYUpjO
XQLWp
5$ ࡱ
3UpVHQWRLU ࡱ+7
SRXUERXWHLOOHHQERLVG
pUDEOHKXLOp
DYHFFRQQHFWHXUPDJQpWLTXHLQWpJUp
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVGHIURLG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5$ ࡱ 5$ ࡱ
3RUWHHQLQR[ ࡱ+7 &DGUHGHSRUWH ࡱ+7
DYHFSRLJQpH HQLQR[VDQVSRLJQpH
3RXUDSSDUHLOODUJHXUFP 3RXUDSSDUHLOODUJHXUFP
(SDLVVHXUGHIDoDGHPP (SDLVVHXUGHIDoDGHPP
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$FFHVVRLUHVSRXUDSSDUHLOVGHIURLG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5$ ࡱ 5$ ࡱ
&DGUHGHSRUWH ࡱ+7 3RUWHHQLQR[ ࡱ+7
LQR[DYHFSRLJQpH DYHFSRLJQpH
3RXUDSSDUHLOODUJHXUFP 3RXUDSSDUHLOODUJHXUFP
&KDUQLqUHVjGRLWH (SDLVVHXUGHIDoDGHPP
(SDLVVHXUGHIDoDGHPP
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVGHIURLG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5$ ࡱ 5$ ࡱ
3RUWHVHQLQR[ ࡱ+7 3RUWHHQLQR[ ࡱ+7
DYHFSRLJQpHV DYHFSRLJQpH
3RXU5% 3RXU5)
(SDLVVHXUGHIDoDGHPP (SDLVVHXUGHIDoDGHPP
5$ ࡱ
3RUWHVHQLQR[ ࡱ+7 5$ ࡱ
VDQVSRLJQpH &DGUHGHSRUWHHQLQR[ ࡱ+7
3RXU5< DYHFSRLJQpH
(SDLVVHXUGHIDoDGHPP 3RXU5:
eSDLVVHXUGHIDoDGHPP
$FFHVVRLUHVSRXUDSSDUHLOVGHIURLG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5$ ࡱ 5$ ࡱ
3RLJQpHORQJXHLQR[ ࡱ+7 *ULOOHGHYHQWLODWLRQLQR[ ࡱ+7
ORQJXHXUPPDYHFIL[DWLRQV 3RXU5)
jSDUWLUGH)'
LQWHUYDOOHGHSHUoDJHPP HW5)
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
$SSDUHLOVGHIURLG
5pIpUHQFHV5pIpUHQFHVRQOLQH
5$ ࡱ
&OD\HWWHjERXWHLOOHV ࡱ+7
HQWLqUHPHQWH[WUDFWLEOHDYHFUDLOV
WpOpVFRSLTXHVPDVTXpVHQFKrQHHW
DOXPLQLXPPDVVLI$QWKUDFLWH
3RXUDSSDUHLOODUJHXUFP
5$ ࡱ
&OD\HWWHjERXWHLOOHV ࡱ+7
HQWLqUHPHQWH[WUDFWLEOHDYHFUDLOV
WpOpVFRSLTXHVPDVTXpVHQFKrQHHW
DOXPLQLXPPDVVLI$QWKUDFLWH
3RXUDSSDUHLOODUJHXUFP
5$ ࡱ
%DJXHWWHV ࡱ+7
GHUHFRXYUHPHQWORQJXHV
5$ ࡱ
%DJXHWWHV ࡱ+7
GHUHFRXYUHPHQWSLqFHV
SRXU5<HW5%
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
)URLG9DULR6pULH
7\SHG
DSSDUHLO 5pIULJpUDWHXU 5pIULJpUDWHXU 5pIULJpUDWHXU 5pIULJpUDWHXU
&RQJpODWHXU &RQJpODWHXU &RQJpODWHXU
7RXWLQWpJUDEOHLQWpJUDEOH 5< 5% 5% 5&
'LPHQVLRQV
'LPHQVLRQGHO
DSSDUHLO/[+[3 FP [[ [[ [[ [[
'LPHQVLRQGHOHQLFKH/[+[3 FP [[ [[ [[ [[
3URIRQGHXUGpJDJHPHQWGXPXULQFOXV FP
3RLGVQHW NJ
3RLGVEUXW NJ
3RLGVPD[LPXPFKDUJp NJ
'LPHQVLRQVDSSDUHLOHPEDOOp/[+[3 FP [[ [[ [[ [[
7\SHHWFRQILJXUDWLRQ
5pIULJpUDWHXUFRQJpODWHXUFDYHjYLQ ² ² ² ²²
=RQHIUDvFKHXU&=RQHIUDvFKHXUSURFKHGH&=RQHIUDvFKHXU ² ² ² ²
7RXWLQWpJUDEOHLQWpJUDEOHVRXVSODQSRVHOLEUH ²²² ²²² ²²² ²²²
&KDUQLqUHGHSRUWHGURLWHJDXFKHUHYHUVLEOH ² ² ² ²
3RUWHYLWUpH ² ² ² ²
(QWLqUHPHQWFDUURVVpKDELOODJHGHSRUWH ² ² ² ²
9ROXPH&RQVRPPDWLRQ
9ROXPHWRWDO O
²9ROXPHWRWDOGHVFRPSDUWLPHQWVGHUpIULJpUDWLRQ O
²
²9ROXPHUpIULJpUDWHXU O
² ² ²
²9ROXPH]RQHIUDvFKHXU=RQHIUDvFKHXUSURFKHGH& O
² ² ²
²9ROXPHFRQJpODWHXU O
²
&DSDFLWpGHVWRFNDJHERXWHLOOHGHO QE² ² ² ²
&ODVVHG
HZFDFLWppQHUJpWLTXHñ ) ( ( (
&RQVRPPDWLRQpQHUJpWLTXHTXRWLGLHQQHò N:KK
&RQVRPPDWLRQpQHUJpWLTXHDQQXHOOHò N:K
1LYHDXVRQRUH G%$UHS:
(ZFDFLWppQHUJpWLTXHGXQLYHDXVRQRUH ' ' ' &
&ODVVHFOLPDWLTXH 61²7 61²7 61²7 61²7
8WLOLVDWLRQV
(FUDQ7)7VHQVLWLI
2XYHUWXUHDVVLVWpHSRXUSRUWHHWWLURLU
$ZFKDJHWH[WHFODLU 1EGHODQJXHV
&DUDFWpULVWLTXHV
*ODoRQVGLVWULEXWHXUG
HDXHWGHJODoRQJODFHSLOpHHDX ²²² ²²² ²²² ²²²²
=RQHIUDvFKHXUDYHFFRQWU{OHGHWHPSpUDWXUH QE
=RQHIUDvFKHXUDYHFFRQWU{OHG
KXPLGLWp QE
=RQHGHWHPSpUDWXUH]RQHFOLPDWLTXH QE
$ZFKDJHGHWHPSpUDWXUHjO
LQWpULHXUGHO
DSSDUHLOHQIDoDGH ² ² ² ²
5pJODJHGHODWHPSpUDWXUHDXGHJUpSUqV
7HFKQRORJLH1R)URVW
'pJLYUDJHDXWRPDWLTXHUpIULJpUDWHXU]RQHIUDvFKHXUFRQJpODWHXU ²
(FODLUDJHGHSUpVHQWDWLRQ QE ² ² ² ²
9HUURXLOODJH ² ² ² ²
&RQWU{OHG
KXPLGLWp ² ² ² ²
)LOWUHjFKDUERQDFWLI
6\VWqPHGHVWRFNDJHDQWLYLEUDWLRQ ² ² ² ²
3URWHFWLRQ89 ² ² ² ²
,QWpULHXULQR[ ²
0RGHYDFDQFHV ²
7pPRLQYLVXHODODUPHVRQRUHGHG\VIRQFWLRQQHPHQW
7pPRLQG
RXYHUWXUHGHSRUWHDODUPHVRQRUHRXLQGLFDWLRQVXUODSRUWH
² ² ² ²
HQFDVGHSRUWHRXYHUWH
0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHVPRGHGLJLWDO+RPH&RQQHFWó
5pIULJpUDWHXU=RQHIUDvFKHXU
6XSHUUpIULJpUDWLRQ
5pSDUWLWLRQG\QDPLTXHGXIURLG
1LYHDXGHVWRFNDJH QE
%DFVWLURLUVjO
LQWpULHXU QE
&RPSDUWLPHQWGDQVODFRQWUHSRUWH QE
&DVLHUVj±XIV QEG
±XIV
&DYHjYLQ
1RPEUHPD[LPXPGHQLYHDX[GHVWRFNDJH ² ² ² ²
(WDJqUHVjERXWHLOOHVWRWDOHPHQWH[WUDFWLEOHVH[WUDFWLEOHV ² ² ² ²
(WDJqUHVWRWDOHPHQWH[WUDFWLEOHVH[WUDFWLEOHVDPRYLEOHV ² ² ² ²
6WRFNDJHGH0DJQXPV ² ² ² ²
6WRFNDJHGHGpFDQWHXUVERXWHLOOHVRXYHUWHVHWFDYHjFLJDUHV ² ² ² ²
&RQJpODWLRQ
6XSHUFRQJpODWLRQ ²
&DSDFLWpGHFRQJpODWLRQ NJK ²
$XWRQRPLHHQFDVGHFRXSXUHGHFRXUDQW KUV ²
1LYHDX[GHVWRFNDJH QE ² ² ² ²
3DQLHUVFRPSDUWLPHQWVWLURLUVLQWpULHXUV QE ²
&RPSDUWLPHQWVGDQVODFRQWUHSRUWH QE ² ² ² ²
%DFjJODoRQVGLVWULEXWHXUjJODoRQV QE ²
)LOWUHjFKDUERQDFWLISRXUOHV\VWqPH=OWUHjHDX ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
5DFFRUGHPHQWGLUHFWjO
HDX ²
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH$FFHVVRLUHVVSpFLDX[
ñ3RXUXQHFODVVHG
HZFDFLWppQHUJpWLTXHGH$j*9DOHXUVVHORQODUpJXODWLRQ8(ò&RQVRPPDWLRQHIIHFWLYHGpSHQGGHO
XWLOLVDWLRQGHO
DSSDUHLOHWRXGHVDORFDOLVDWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
$SSDUHLOVGHIURLG
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ² ² ² ² ² ² ²
² ²
² ²
² ²
² ²
² ²
² ² ² ²
² ² ²
² ² ²
7\SHG
DSSDUHLO &DYHjYLQ &DYHjYLQ &DYHjYLQ &DYHjYLQ
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH$FFHVVRLUHVVSpFLDX[
ñ3RXUXQHFODVVHG
HZFDFLWppQHUJpWLTXHGH$j*9DOHXUVVHORQODUpJXODWLRQ8(ò&RQVRPPDWLRQHIIHFWLYHGpSHQGGHO
XWLOLVDWLRQGHO
DSSDUHLOHWRXGHVDORFDOLVDWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
&DYHVjYLQ $SSDUHLOVGHIURLG
7\SHG
DSSDUHLO &DYHjYLQ &DYHjYLQ &DYHjYLQ
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ3RXUXQHFODVVHG
HZFDFLWppQHUJpWLTXHGH$j*9DOHXUVVHORQODUpJXODWLRQ8(
ò&RQVRPPDWLRQHIIHFWLYHGpSHQGGHO
XWLOLVDWLRQGHO
DSSDUHLOHWRXGHVDORFDOLVDWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
)URLG9DULR6pULH
7\SHG
DSSDUHLO &RPELQpUpIULJpUDWHXU &RPELQpUpIULJpUDWHXU 5pIULJpUDWHXU
FRQJpODWHXU FRQJpODWHXU
(TXLSHPHQWGHVpULH1RQGLVSRQLEOH$FFHVVRLUHVHQRSWLRQ
ñ3RXUXQHFODVVHG
HZFDFLWppQHUJpWLTXHGH$j*9DOHXUVVHORQODUpJXODWLRQ8(
ò&RQVRPPDWLRQHIIHFWLYHGpSHQGGHO
XWLOLVDWLRQGHO
DSSDUHLOHWRXGHVDORFDOLVDWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
$SSDUHLOVGHIURLG
&RQJpODWHXU
5)
[[
[[
[[
²²
²²²
²²²
²
²²
²
²
(
%
617
²²²
²
²
²²
²
²
²
²
²
²
²
²
²
²
²
$SSDUHLOVGHIURLG6pULH
7\SHG
DSSDUHLO 6LGHE\VLGH &RPELQp5pIULJpUDWHXU 5pIULJpUDWHXUFRQJpODWHXU
&RQJpODWHXU
7RXWLQWpJUDEOHLQWpJUDEOH 5% 57
3RUWH,QR[SRUWHYHUUHDQWKUDFLWH 5<
'LPHQVLRQV
'LPHQVLRQV/[+[3 FP [[ [[ [[
'LPHQVLRQVGHODQLFKH/[+[3 FP ² [[ [[
3URIRQGHXUGpJDJHPHQWGXPXULQFOXV FP
3RLGVQHW NJ
3RLGVEUXW NJ
'LPHQVLRQDSSDUHLOHPEDOOp/[+[3 FP [[ [[ [[
7\SHHWFRQILJXUDWLRQ
5pIULJpUDWHXU&RQJpODWHXU&DYHjYLQ ² ² ²
=RQHIUDvFKHXU&=RQHIUDvFKHXUSURFKH&=RQHIUDvFKHXU ²² ²² ²²
7RXWLQWpJUDEOHLQWpJUDEOHVRXVSODQSRVHOLEUH ²²² ²²² ²²²
&KDUQLqUHGHSRUWHGURLWHJDXFKHUpYHUVLEOH ² ² ²
(QWLqUHPHQWFDUURVVpSRUWHVKDELOOpV ² ²² ²²
9ROXPH&RQVRPPDWLRQ
9ROXPHWRWDO O
9ROXPHWRWDOGXFRPSDUWLPHQWUpIULJpUDWLRQ O ² ² ²
9ROXPHUpIULJpUDWHXU O
9ROXPH]RQHIUDvFKHXUSURFKH&]RQHIUDvFKHXU O
9ROXPHFRQJpODWHXU O
&ODVVHG
HZFDFLWppQHUJpWLTXHñ ( ' (
&RQVRPPDWLRQpQHUJpWLTXHTXRWLGLHQQHò N:KK
&RQVRPPDWLRQpQHUJpWLTXHDQQXHOOHò N:K
1LYHDXVRQRUH G%$UHS:
(ZFDFLWppQHUJpWLTXHGXQLYHDXVRQRUH & & &
&ODVVHFOLPDWLTXH 617 617 617
&DUDFWpULVWLTXHV
'LVWULEXWHXUG
HDXHWGHJODFHJODoRQVJODFHSLOpHHDX ²²² ²²²
=RQHIUDvFKHXUDYHFFRQWU{OHGHWHPSpUDWXUH
=RQHIUDvFKHXUDYHFFRQWU{OHG
KXPLGLWp
=RQHGHWHPSpUDWXUH]RQHFOLPDWLTXH QE
$ZFKDJHGHWHPSpUDWXUHjO
LQWpULHXUGHO
DSSDUHLOHQIDoDGH ² ² ²
5pJODJHGHODWHPSpUDWXUHDXGHJUqVSUqV
7HFKQRORJLH1R)URVW ²
'pJULYUDJHDXWRPDWLTXHUpIULJpUDWHXU]RQHIUDvFKHXUFRQJpODWHXU ² ²
3XLVVDQFHG
pFODLUDJH QE ² ²
$LGHDXGpJLYUDJH ²
)LOWUHjFKDUERQDFWLI ² ²
0RGHYDFDQFHV ²
7pPRLQYLVXHODODUPHVRQRUHGHG\VIRQFWLRQQHPHQW
7pPRLQYLVXHODODUPHVRQRUHRXLQGLFDWLRQVXUODSRUWHHQFDVGHSRUWHRXYHUWH
0RGXOH:L=LQWpJUpSRXUOHVVHUYLFHVHQPRGHGLJLWDO+RPH&RQQHFW
5pIULJpUDWHXU=RQHIUDvFKHXU
6XSHUUpIULJpUDWLRQ
5pSDUWLWLRQG\QDPLTXHGXIURLG ² ²
1LYHDXGHVWRFNDJH QE
%DFVWLURLUVjO
LQWpULHXU QE
&RPSDUWLPHQWVGDQVODFRQWUHSRUWH QE
&RPSDUWLPHQWVSRXUYLQVHWFKDPSDJQH ²
&DVLHUVj±XIV QEG
±XIV ²
&RQJpODWLRQ
6XSHUFRQJpODWLRQ ²
&DSDFLWpGHFRQJpODWLRQ NJK
$XWRQRPLHHQFDVGHFRXSXUHGHFRXUUDQW K
1LYHDXGHVWRFNDJH QE ²
3DQLHUVFRPSDUWLPHQWVWLURLUVLQWpULHXUV QE ²
&RPSDUWLPHQWVGDQVODFRQWUHSRUWH QE ² ² ²
%DFVjJODoRQV QE ²
$FFXPXODWHXUGHIURLG QE ² ²
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
5DFFRUGHPHQWGLUHFWHjO
HDX
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH$FFHVVRLUHVHQRSWLRQ
ñ3RXUXQHFODVVHG
HZFDFLWppQHUJpWLTXHGH$j*9DOHXUVVHORQODUpJXODWLRQ8(
ò&RQVRPPDWLRQHIIHFWLYHGpSHQGGHO
XWLOLVDWLRQGHO
DSSDUHLOHWRXGHVDORFDOLVDWLRQ
ó/DFRQQH[LRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
$SSDUHLOVGHIURLG
² ² ² ²
² ² ²
² ²
² ²
² ²
² ² ² ²
² ²
² ² ²
² ²
² ²
² ² ²
² ² ² ²
² ² ² ² ² ²
² ²
² ² ² ²
/DYHYDLVVHOOH_/DYHOLQJH_6qFKHOLQJH
9XHG
HQVHPEOH/DYHYDLVVHOOH/DYHOLQJH6qFKHOLQJH
/DYHYDLVVHOOHWRXWLQWpJUDEOH6pULH
/DYHYDLVVHOOHWRXWLQWpJUDEOH6pULH
&RQVHLOVG·LQVWDOODWLRQ
$FFHVVRLUHV
'RQQpHVWHFKQLTXHV
/DYHOLQJH
6qFKHOLQJH
'RQQpHVWHFKQLTXHV
/DYHOLQJH6qFKHOLQJH
/DYHYDLVVHOOH
9XHG·HQVHPEOHGHV/DYHYDLVHOOH
') '))
') '))
')
/DYHYDLVVHOOH/DYHOLQJH6qFKHOLQJH
9XHG·HQVHPEOHGHV/DYHOLQJH6qFKHOLQJH
:0 :7
/DYHYDLVVHOOH6pULH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV 3URJUDPPHV
') ') FRPSUHQDQWDXVVLGHVLQGLFDWLRQVVXU SURJUDPPHV
OHVSRUWHVjFRXOLVVHHQSDJHV $XWR&&
² (FODLUDJHSDUIDLWGHO
LQWpULHXUGHOD j $XWR&&
FXYH $XWR&&
² 3URWHFWLRQRSWLPDOHGHVYHUUHV 9DOHXUVGHUDFFRUGHPHQW ,QWHQVLI&
GpOLFDWVJUkFHjXQVpFKDJHj 3XLVVDQFHWRWDOH: (FR&
EDVVHWHPSpUDWXUHDYHF=pROLWHj &kEOHGHUDFFRUGHPHQWDYHFSULVH 3URJUDPPHQXLW
ODFRQFHSWLRQGXSDQLHUHWDX 5DFFRUGHPHQWjO
HDX 5DSLGH&PLQ
V\VWqPHG
DGRXFLVVHPHQW 3RVVLELOLWpGHUDFFRUGHPHQWjO
HDX )RQFWLRQGHSHUVRQQDOLVDWLRQ
LQWHOOLJHQWGHO
HDX FKDXGHRXjO
HDXIURLGH UpJODJHSDUGpIDXWSUpODYDJH
² SURJUDPPHVDYHF$TXDVHQVRUHW
RSWLRQVGRQW3RZHUSRXUXQ RSWLRQV
ODYDJHHWVpFKDJHHQPLQXWHVHW ,QWHQVLI
,QWHQVLISRXUXQODYDJHSDUWLFXOLqUH 3RZHU
PHQWPLQXWLHX[GDQVOHSDQLHU 'HPLFKDUJH
LQIpULHXU +\JLqQH
೦1RXYHDX ² 6\VWqPHGHSDQLHUVIOH[LEOHV
') ೦ ࡱ PRQWpVVXUUDLOVTXLFRXOLVVHQWVDQV (QWUHWLHQGHO
DSSDUHLO
7RXWLQWpJUDEOH ࡱ+7 HIIRUWVXUWRXVOHVQLYHDX[HWj
+RPH&RQQHFW IHUPHWXUH6RIWFORVH &DUDFWpULVWLTXHV
+DXWHXUFP ² 6\VWqPHG
RXYHUWXUHGHSRUWH 6\VWqPHGHSDQLHUVIOH[LEOHVPRQWpV
') ೦ ࡱ 3XVKWRRSHQSRXUXQHLQWpJUDWLRQ VXUUDLOVTXLFRXOLVVHQWVDQVHIIRUW
7RXWLQWpJUDEOH ࡱ+7 SDUIDLWHGDQVOHVPHXEOHVGH VXUWRXVOHVQLYHDX[HWjIHUPHWXUH
+RPH&RQQHFW FXLVLQHVDQVSRLJQpHV 6RIWFORVH
+DXWHXUFP ² 7LPH/LJKWSURMHFWLRQGXWHPSV
UHVWDQWHWGHODSKDVHHQFRXUVVXU 3DQLHUVXSpULHXU
/HSUL[FRPSUHQG OHVRO 6RUWLHWRWDOH
GLIIXVHXUPXOWLMHWVSRXUJUDQGVSODWV ² 7UqVVLOHQFLHX['% =RQHGHQHWWR\DJHVXSSOpPHQWDLUHHQ
SDQLHUjYHUUHV RSWLRQJUkFHjO
DFWLYDWLRQGHEXVHV
VXSSRUWVSRXUSODWV*DVWUR1RUP %DQGHDXGHFRPPDQGH G
DVSHUVLRQDGGLWLRQQHOOHV
NLWGHEDJXHWWHVGHILQLWLRQLQR[ 'LVSOD\7)7DYHFLQGLFDWLRQGXWHPSV 5DFNPDWLFVXUQLYHDX[UpJODEOHHQ
UHVWDQWRXGHO
KHXUHGHILQGH KDXWHXUMXVTX
jFP
SURJUDPPHLQGLFDWHXUGXPDQTXHGH SLFRWVUDEDWWDEOHV
$FFHVVRLUHVG
LQVWDOODWLRQ VHORXGHOLTXLGHGHULQoDJHYR\DQWGH pWDJqUHVUDEDWWDEOHVSRXUXQH
'$ ࡱ FRQWU{OHGHO
DUULYpHG
HDX SURWHFWLRQRSWLPDOHGHVYHUUHV
&KDUQLqUHVXSSRUWGH ࡱ+7 &RPPDQGHVSDUWRXFKHVVHQVLWLYHV
SOLQWKHSRXUWRXVOHVODYHYDLVVHOOH 5pGXFWLRQIOH[LEOHGHODGXUpHGXF\FOH 3DQLHULQIpULHXU
WRXWLQWpJUDEOHV PrPHGXUDQWOHIRQFWLRQQHPHQWG
XQ SLFRWVUDEDWWDEOHV
*= ࡱ F\FOH pWDJqUHVUDEDWWDEOHVSRXUXQH
5DOORQJH$TXD6WRS ࡱ+7 $VVLVWDQWGHVpFKDJHSRXUXQH SURWHFWLRQRSWLPDOHGHVYHUUHV
ORQJXHXUP RXYHUWXUHRSWLRQQHOOHGHODSRUWHjOD 6XSSRUWjYHUUHVGLYLVLEOH
5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ ILQGXSURJUDPPH 3DQLHUjFRXYHUWV
G
HDX )RQFWLRQGHSHUVRQQDOLVDWLRQ
SHUPHWWDQWGHPpPRULVHUOHV 7DLOOHPD[LPXPGHVDVVLHWWHVSDQLHU
$FFHVVRLUHVHQRSWLRQ FRPELQDLVRQVSHUVRQQHOOHVGH VXSpULHXULQIpULHXUSRXUOHV
'$ ࡱ SURJUDPPHV ODYHYDLVVHOOHKDXWHXUFP
7LURLUjFRXYHUWVDYHF ࡱ+7 5pGXFWLRQVRQRUHWHPSRUDLUH HWFP
UDLOVTXLSHUPHWWHQWGHFRXOLVVHU XQLTXHPHQWGLVSRQLEOHYLDO
DFWLYDWLRQ
IDFLOHPHQW GH+RPH&RQQHFW 7DLOOHPD[LPXPGHVDVVLHWWHVSDQLHU
HQLYHDXGHUDQJHPHQWDXGHVVXVGX 7RXFKHLQIRDYHFFRQVHLOVG
XWLOLVDWLRQ VXSpULHXULQIpULHXUSRXUOHV
SDQLHUVXSpULHXU 'pSDUWGLIIpUpMXVTX
jKHXUHV ODYHYDLVVHOOHKDXWHXUFP
,GpDOSRXUJUDQGVFRXYHUWVXVWHQVLOHV 6LJQDOYLVXHOHWDFRXVWLTXHGHILQGH HWFP
GHFXLVLQHHWWDVVHVH[SUHVVR SURJUDPPH
&DSDFLWpFRXYHUWVDYHFOHV 7LPH/LJKW &DSDFLWpGHFRXYHUWV
QLYHDX[GHUDQJHPHQW &DSDFLWpPD[LPXPGHYHUUHVjYLQ
'$ ࡱ &DUDFWpULVWLTXHVWHFKQLTXHV
$FFHVVRLUHSRXU ࡱ+7 (FODLUDJHSDUIDLWGHO
LQWpULHXUGHODFXYH &RQVRPPDWLRQV
FRXYHUWVHQDUJHQWSRXUWRXVOHV 3URWHFWLRQGHVYHUUHVJUkFHjOD=pROLWH &ODVVHG
HIILFDFLWppQHUJpWLTXH&
ODYHYDLVVHOOH $TXDVHQVRURSWLPLVHOHV VXUXQHpFKHOOHGH$j*
'$ ࡱ FRQVRPPDWLRQVVHORQOHGHJUpGH $SDUWLUGHOG
HDX
6XSSRUWSRXUYHUUHVj ࡱ+7 VDOLVVXUH $SDUWLUGHN:K
ORQJVSLHGV 6HQVRUGHFKDUJH 1LYHDXVRQRUH'%UHS:
3HUPHWXQSRVLWLRQQHPHQWVpFXULVpGH 'pWHFWLRQDXWRPDWLTXHGHVGpWHUJHQWV
YHUUHVjORQJVSLHGVSHQGDQWOH FRPELQpV &RQVHLOVG
LQVWDOODWLRQ
GpURXOHPHQWGXSURJUDPPHHWDVVXUH 5pJpQpUDWLRQpOHFWURQLTXH 3LHGVUpJODEOHVHQKDXWHXU
XQUpVXOWDWGHODYDJHRSWLPDO (FKDQJHXUWKHUPLTXH 5HWUDLWGHVRFOHPPYRLUFURTXLV
$SODFHUGDQVOHSDQLHULQIpULHXU &KDXIIHHDXVRXVFXYH 3RXUO
XWLOLVDWLRQGX7LPH/LJKWSUpYRLU
'$ ࡱ 7ULSOHV\VWqPHGHILOWUDJHDXWRQHWWR\DQW XQUHWUDLWPLQLPXPGXVRFOHPP
7LURLUHQLYHDX ࡱ+7 6\VWqPHIHUPHWXUHGRXFH pSDLVVHXUSDQQHDXG
KDELOODJH
DYHFUDLOVSRXUFRXOLVVHPHQWIDFLOH $TXDVWRS /DKDXWHXUPD[LPDOHGXVRFOHGRLWrWUH
3RXUODYHYDLVVHOOHKDXWHXUFP UpGXLWHGHPPSRXUSHUPHWWUHXQH
7LURLUVXSSOpPHQWDLUHHQLYHDX 0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV OHFWXUHRSWLPDOHGX7LPH/LJKW
DXGHVVXVGXSDQLHUVXSpULHXU PRGH'LJLWDO+RPH&RQQHFW 5pJODJHGHVSLHGVDUULqUHVSDUO
DYDQW
3RXUGHSHWLWVEROVGHVWDVVHVHWGHV /DGLVSRQLELOLWpGHODIRQFWLRQ+RPH 3RLGVGHODSRUWHMXVTX
jNJ
XVWHQVLOHVGHFXLVVRQ &RQQHFWGpSHQGGHODIRQFWLRQQDOLWp /HVPHVXUHVGHODSRUWHGpSHQGHQWGH
(WDJqUHjFRXWHDX[PRELOH GHVVHUYLFHV+RPH&RQQHFWGDQVOH ODKDXWHXUGHSOLQWKHGHVPHXEOHVGH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH FXLVLQH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV ,QVWDOODWLRQpJDOHPHQWSRVVLEOHGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU PHXEOHDYHFSRLJQpH/HV\VWqPH
ZZZKRPHFRQQHFWFRP 3XVKWRRSHQUHVWHDFWLI
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
P P
PP
PP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
P P
PP
PP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
Lave-vaisselle hauteur 86,5 cm avec porte coulisse Lave-vaisselle hauteur 81,5 cm avec porte à coulisse
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
P P
PP
PP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
² 3URWHFWLRQRSWLPDOHGHVYHUUHV (QWUHWLHQGHO
DSSDUHLO
GpOLFDWVJUkFHjXQVpFKDJHj
EDVVHWHPSpUDWXUHDYHF=pROLWH &DUDFWpULVWLTXHV
jODFRQFHSWLRQGXSDQLHUHWDX 6\VWqPHGHSDQLHUVIOH[LEOHV
V\VWqPHG
DGRXFLVVHPHQW 7LURLUjFRXYHUWV
LQWHOOLJHQWGHO
HDX
² SURJUDPPHVDYHF$TXDVHQVRUHW 3DQLHUVXSpULHXU
೦1RXYHDX RSWLRQ3RZHUSRXUODYDJHHW 5DFNPDWLFVXUQLYHDX[UpJODEOHHQ
')೦ ࡱ VpFKDJHHQPLQXWHV KDXWHXUMXVTX
jFP
7RXWLQWpJUDEOH ࡱ+7 ² 6\VWqPHGHSDQLHUVIOH[LEOHV SLFRWVG
DVVLHWWHVUDEDWWDEOHV
+RPH&RQQHFW LQFOXDQWOHWLURLUjFRXYHUWVSRXUXQ pWDJqUHUDEDWWDEOH
+DXWHXUFP UDQJHPHQWRSWLPDO
/DUJHXUFP ² 7LPH/LJKWSURMHFWLRQGXWHPSV 3DQLHULQIpULHXU
UHVWDQWHWGHODSKDVHHQFRXUVVXU SLFRWVG
DVVLHWWHVUDEDWWDEOHV
/HSUL[FRPSUHQG OHVRO pWDJqUHUDEDWWDEOH
GLIIXVHXUPXOWLMHWSRXUJUDQGVSODWV ² (FODLUDJHLQWpULHXUOXPLQHX[ 6XSSRUWSRXUYHUUHV
² 7UqVVLOHQFLHX['%
$FFHVVRLUHVG
LQVWDOODWLRQ 7DLOOHPD[LPDOHGHVDVVLHWWHVSDQLHU
'$ ࡱ %DQGHDXGHFRPPDQGH VXSpULHXULQIpULHXU
%DUUHWWHGHMRQFWLRQHW ࡱ+7 'LVSOD\DYHFDIILFKDJHGXWHPSV MXVTX
jFP
GHILQLWLRQSRXUODYHYDLVVHOOHKDXWHXU UHVWDQWRXKHXUHGHILQGHSURJUDPPH
FPHWODUJHXUFP LQGLFDWHXUGHPDQTXHGHVHOHWGH &DSDFLWpGHFRXYHUWV
'$ ࡱ SURGXLWGHULQoDJHYR\DQWGHFRQWU{OH
&KDUQLqUHVXSSRUWGH ࡱ+7 SRXUO
DUULYpHG
HDX &RQVRPPDWLRQV
SOLQWKHSRXUWRXVOHVODYHYDLVVHOOH 5pGXFWLRQIOH[LEOHGHODGXUpHGXF\FOH &ODVVHG
HIILFDFLWppQHUJpWLTXH&
WRXWLQWpJUDEOHV PrPHGXUDQWOHIRQFWLRQQHPHQWG
XQ VXUXQHpFKHOOHGH$j*
*= ࡱ F\FOH $SDUWLUGHOG
HDX
5DOORQJH$TXD6WRS ࡱ+7 $VVLVWDQWGHVpFKDJHSRXUXQH $SDUWLUGHN:K
ORQJXHXUP RXYHUWXUHRSWLRQQHOOHGHODSRUWHjOD 1LYHDXVRQRUH'%UHS:
5DOORQJHSRXUO
DUULYpHHWO
pYDFXDWLRQ ILQGXSURJUDPPH
G
HDX )RQFWLRQGHSHUVRQQDOLVDWLRQ &RQVHLOVG
LQVWDOODWLRQ
SHUPHWWDQWGHPpPRULVHUOHV 3LHGVUpJODEOHVHQKDXWHXU
$FFHVVRLUHVHQRSWLRQ FRPELQDLVRQVSHUVRQQHOOHVGH 5HWUDLWGHVRFOHPPYRLUFURTXLV
'$ ࡱ SURJUDPPHV 3RXUO
XWLOLVDWLRQGX7LPH/LJKWSUpYRLU
$FFHVVRLUH ࡱ+7 5pGXFWLRQVRQRUHWHPSRUDLUH XQUHWUDLWPLQLPXPGXVRFOHPP
SRXUFRXYHUWVHQDUJHQW XQLTXHPHQWGLVSRQLEOHYLDO
DFWLYDWLRQ pSDLVVHXUSDQQHDXG
KDELOODJH
SRXUWRXVOHVODYHYDLVVHOOH GH+RPH&RQQHFW /DKDXWHXUPD[LPDOHGXVRFOHGRLWrWUH
'pSDUWGLIIpUpMXVTX
jKHXUHV UpGXLWHGHPPSRXUSHUPHWWUHXQH
6LJQDOYLVXHOHWDFRXVWLTXHGHILQGH OHFWXUHRSWLPDOHGX7LPH/LJKW
SURJUDPPH 5pJODJHGHVSLHGVDUULqUHVSDUO
DYDQW
7LPH/LJKW 3RLGVGHODSRUWHMXVTX
jNJ
/HVPHVXUHVGHODSRUWHGpSHQGHQWGH
&DUDFWpULVWLTXHVWHFKQLTXHV ODKDXWHXUGHSOLQWKHGHVPHXEOHVGH
(FODLUDJHLQWpULHXUOXPLQHX[ FXLVLQH
3URWHFWLRQGHVYHUUHVJUkFHjOD
=pROLWH &RQVHLOVG
LQVWDOODWLRQFRPSOpPHQWDLUHV
$TXDVHQVRURSWLPLVHOHV FRPSUHQDQWDXVVLGHVLQGLFDWLRQVVXU
FRQVRPPDWLRQVVHORQOHGHJUpGH OHVSRUWHVjFRXOLVVHHQSDJHV
VDOLVVXUH j
6HQVRUGHFKDUJH
'pWHFWLRQDXWRPDWLTXHGHVGpWHUJHQWV 9DOHXUVGHUDFFRUGHPHQW
FRPELQpV 3XLVVDQFHWRWDOH:
5pJpQpUDWLRQpOHFWURQLTXH &kEOHGHUDFFRUGHPHQWDYHFSULVH
(FKDQJHXUWKHUPLTXH 5DFFRUGHPHQWjO
HDX
&KDXIIHHDXVRXVFXYH 3RVVLELOLWpGHUDFFRUGHPHQWjO
HDX
7ULSOHV\VWqPHGHILOWUDJHDXWRQHWWR\DQW FKDXGHRXjO
HDXIURLGH
6\VWqPHIHUPHWXUHGRXFH
$TXDVWRS
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
3URJUDPPHV
SURJUDPPHV
$XWR&&
$XWR&&
,QWHQVLI
(FR&
5DSLGH&PLQ
)RQFWLRQGHSHUVRQQDOLVDWLRQUpJODJH
SDUGpIDXW3UpODYDJH
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHYDLVVHOOH
P P
PP
PP
3RXUGHVKDXWHXUVGHQLFKH +DXWHXUSDQQHDXG
KDELOODJHPP
GHjPPGDQVODSOXSDUWGHV
FDVSUpYRLUXQODYHYDLVVHOOHGH +DXWHXUSDQQHDXG
KDELOODJHPP
FPGHKDXWLQGpSHQGDPPHQWGH +DXWHXUGHQLFKHHQPPए
ODKDXWHXUGXVRFOH
ऍ+DXWHXUGXVRFOHHQPP
n6 n6 n6 n6 n6 s6 s6 s6 s6 s6 s6 s6
3RXUGHVKDXWHXUVGHQLFKH n n6' n6 n6 n6 s s6 s6 s6 s6 s6 s6
GHjPPGDQVODSOXSDUWGHV n n n6' n6 n6 n6s s s6' s6 s6 s6 s6
FDVSUpYRLUXQODYHYDLVVHOOHGH n n n n6' n6 n6s n6s s s6' s6 s6 s6
FPGHKDXWLQGpSHQGDPPHQWGH
n n n n n6' n6s n6s s s s6' s6 s6
ODKDXWHXUGXVRFOH
n n n n n n6's n6s s s s s6' s6
3RXUGHVKDXWHXUVGHQLFKHGHj n n n n n ns n6's s s s s s6'
PPF·HVWODKDXWHXUGHVRFOHTXL n n n n n ns ns s s s s s
GpWHUPLQHOHFKRL[G·XQDSSDUHLOGH n n n n n ns ns s s s s s
RXGHFPGHKDXWYRLUFLGHV n n n n n ns s s s s s
VRXVODPDWULFHGHVFRUUHVSRQGDQFHV n n n n n s s s s s
n n n n s s s s
3RXUOHVODYHYDLVVHOOHDYHF7LPH/LJKW n n n s s s
LOIDXWUpGXLUHODKDXWHXUPD[LPDOH
n n s s
GXVRFOHGHPPSRXUXQHOHFWXUH
n s
RSWLPDOHGHODSURMHFWLRQDXVROGX
WHPSVUHVWDQW
n ODYHYDLVVHOOHKDXWHXUFP')')')')6 6ROXWLRQVSpFLDOH
s ODYHYDLVVHOOHKDXWHXUFP')')')')6 6ROXWLRQVSpFLDOH
6 6ROXWLRQVSpFLDOHDYHFO·DFFHVVRLUH'$VXSSRUWGHSOLQWKHSRXUDOLJQHPHQWDYHFODSRUWH
' 6ROXWLRQVSpFLDOHDYHFXQpFDUWGHPPDYHFOHSODQGHWUDYDLOVpFXULWpHQIDQWQRQGLVSRQLEOH
Hauteur
de socle
3RVVLELOLWpG·LQVWDOODWLRQGHVODYHYDLVHOOHDYHFSRUWHG·KDELOODJHSOHLQYHUUH'$
0HXEOHEDV
+DXWHXUSDQQHDXG
KDELOODJHPP
+DXWHXUSDQQHDXG
KDELOODJHPP
/HVSRUWHVG·KDELOODJHSOHLQYHUUHQH
V·DGDSWHQWSDVVXUOHVPRGqOHVDYHF +DXWHXUGHQLFKHHQPPए
SRUWHjFRXOLVVH
ऍ+DXWHXUGXVRFOHHQPP
n s
/DSRUWHG·KDELOODJHSOHLQYHUUHVH n n s s
UqJOHHQFRQWLQXVXUXQHKDXWHXUGH n n n s s s
PP n n n n s s s s
n n n n n s s s s s
n n n n n ns s s s s s
n n n n n ns s s s s s
n n n n n s s s s s
n n n n s s s s
n n n s s s
n n s s
n s
n /DYHYDLVVHOOHKDXWHXUFP')')SRUWHSOHLQYHUUH'$
s /DYHYDLVVHOOHKDXWHXUFP')')SRUWHSOHLQYHUUH'$
,QGLFDWLRQGHPRQWDJHFRPSOpPHQWDLUHSRXULQVWDOODWLRQHQFRORQQH /DYHYDLVVHOOH
VDQVSRUWHjFRXOLVVH
3RXUOHVKDXWHXUVGHQLFKHGH +DXWHXUSDQQHDXG
KDELOODJHPP
jPPGDQVODPDMRULWpGHVFDV
SUpYRLUXQODYHYDLVVHOOHKDXWHXU
FPLQGpSHQGDPPHQWGHOD +DXWHXUGHODQLFKHHQPPए
KDXWHXUGXVRFOH
ऍ+DXWHXUGXVRFOHHQPP
3RXUOHVKDXWHXUVGHQLFKHGH
n
jPPGDQVODPDMRULWpGHVFDV n n
SUpYRLUXQODYHYDLVVHOOHKDXWHXU
FPLQGpSHQGDPPHQWGHOD
n n n
KDXWHXUGXVRFOH n n n n
3RXUGHVKDXWHXUVGHQLFKHGHj n n n n n
PPF·HVWODKDXWHXUGXVRFOHTXL
GpWHUPLQHOHFKRL[G·XQODYHYDLVVHOOH
n n n n n n
GHRXFPGHKDXW n n n n n n n
n n n n n n n n
n
n n n n n n n n
n
n
n n n n n n n n
n
n
n
n n n n n n n
/DQpFpVVLWpGHO·LQVWDOODWLRQG·XQ
ODYHYDLVVHOOHjSRUWHjFRXOLVVH
n
n
n
n
n n n n n n
GpSHQGGHSOXVLHXUVIDFWHXUV n
n
n
n
n
n n n n n
/HVSRUWHVG
KDELOODJHSOHLQYHUUHQH
n
n
n
n
n
n
n n n n
V
DGDSWHQWSDVDX[ODYHYDLVVHOOHDYHF n
n
n
n
n
n
n
n n n
SRUWHjFRXOLVVH
n
n
n
n
n
n
n
n
n n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n ODYHYDLVVHOOHKDXWHXUFPSRUWHjFRXOLVVH'))HW'))
s ODYHYDLVVHOOHKDXWHXUFPSRUWHjFRXOLVVH'))HW'))
(JDOHPHQWSRVVLEOHDYHFODYHYDLVVHOOHVDQVSRUWHjFRXOLVVH
/DYHYDLVVHOOH
+DXWHXUSDQQHDXG
KDELOODJHPP
s
s s
s s s
s s s s
s s s s s
s s s s s s
s s s s s s s
s s s s s s s s
s
s s s s s s s s
s
s
s s s s s s s s
ns
s
s
s s s s s s s s
ns
ns
s
s
s s s s s s s s
ns
ns
ns
s
s
s s s s s s s s
ns
ns
ns
s
s
s
s s s s s s s
ns
ns
ns
s
s
s
s
s s s s s s
ns
ns
ns
s
s
s
s
s
s s s s s
ns
ns
ns
s
s
s
s
s
s
s s s s
ns
ns
ns
s
s
s
s
s
s
s
s s s
n
s
ns
ns
s
s
s
s
s
s
s
s
s s
n
s
n
s
ns
s
s
s
s
s
s
s
s
s
s
n
s
n
s
n
s
s
s
s
s
s
s
s
s
s
s
n
s
n
s
n
s
s
s
s
s
s
s
s
s
s
s
n
s
n
s
n
s
s
s
s
s
s
s
s
s
s
s
n
n
s
n
s
s
s
s
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
s
n
n
n
s
s
s
s
s
s
n
n
n
s
s
s
s
s
n
n
n
s
s
s
s
n
n
n
s
s
s
n
n
s
s
n
s
,QGLFDWLRQVGHPRQWDJHFRPSOpPHQWDLUHVSRXULQVWDOODWLRQHQFRORQQHODYHYDLVVHOOHSRUWHjFRXOLVVH
+DXWHXUGHQLFKH (SDLVVHXUGXSDQQHDXG
KDELOODJH +DXWHXUGHODSOLQWKHPP
PP PP
,QVWDOODWLRQHQFRORQQHG·XQODYHYDLVVHOOH
SRUWHjFRXOLVVHDXGHVVXVG·XQH
IDoDGHGHSOLQWKHQRQLQFOLQpH
/HWDEOHDXLQGLTXHO·HVSDFHQpFHVVDLUH
HQWUHO·KDELOODJHGHSRUWHHWODIDoDGH
GHODSOLQWKH
&HODGpSHQGGHODKDXWHXUGHODQLFKH
ODKDXWHXUGHODSOLQWKHHWO·pSDLVVHXU
GXSDQQHDXG·KDELOODJHHQFDV
G·XWLOLVDWLRQG·XQSDQQHDXG·KDELOODJH
VWDQGDUGSRXUODYHYDLVVHOOHLQWpJUDEOH
VRXVSODQ
,QWpJUDWLRQG·XQODYHYDLVVHOOHSRUWH
jFRXOLVVH
/DYHYDLVVHOOH
,QGLFDWLRQVGHPRQWDJHFRPSOpPHQWDLUHVSRXULQVWDOODWLRQHQFRORQQHODYHYDLVVHOOHSRUWHjFRXOLVVH
+DXWHXUGHQLFKH (SDLVVHXUGXSDQQHDXG
KDELOODJH +DXWHXUGHODSOLQWKHPP
PP PP
,QVWDOODWLRQHQFRORQQHG·XQODYHYDLVVHOOH
SRUWHjFRXOLVVHDXGHVVXVG·XQH
IDoDGHGHSOLQWKHLQFOLQpH
HWDEOHDXLQGLTXHO·HVSDFHQpFHVVDLUH
/
HQWUHO·KDELOODJHGHSRUWHHWODIDoDGH
GHODSOLQWKH
&HODGpSHQGGHODKDXWHXUGHODQLFKH
ODKDXWHXUGHODSOLQWKHHWO·pSDLVVHXU
GXSDQQHDXG·KDELOODJHHQFDV
G·XWLOLVDWLRQG·XQSDQQHDXG·KDELOODJH
VWDQGDUGSRXUODYHYDLVVHOOHLQWpJUDEOH
VRXVSODQ
,QWpJUDWLRQG·XQODYHYDLVVHOOHSRUWH
jFRXOLVVH
/DYHYDLVVHOOH
$FFHVVRLUHVODYHYDLVVHOOH
5pIpUHQFHV5pIpUHQFHVRQOLQH
'$ ࡱ
6\VWqPHGHSDQLHUVIOH[LEOHV /HV\VWqPHGHSDQLHUVIOH[LEOHVRIIUH %DUUHWWHVGHMRQFWLRQ ࡱ+7
6\VWqPHGHSDQLHUVIOH[LEOHVDYHFUDLO SOXVGHIOH[LELOLWpHWXQHPHLOOHXUH HWGHILQLWLRQLQR[SRXUODYHYDLVVHOOH
SRXUFRXOLVVHPHQWVDQVHIIRUWVXUWRXV SUpKHQVLRQORUVGXUDQJHPHQWGHOD KDXWHXUFP
OHVQLYHDX[HWjIHUPHWXUH6RIWFORVH YDLVVHOOHGDQVOHVSDQLHUV EDUUHWWHVHQLQR[VHUYDQWjRFFXOWHU
SRXUSDQLHUVXSpULHXUHWLQIpULHXU O·HVSDFHHQWUHOHODYHYDLVVHOOHHWOH
F{WpGXPHXEOH
3DQLHUVXSpULHXU SLFRWVjDVVLHWWHVUDEDWWDEOHV 3HUPHWWHQWXQHPHLOOHXUHIL[DWLRQGH
pWDJqUHVUDEDWWDEOHVSRXUXQH O·DSSDUHLOGDQVODQLFKH
SURWHFWLRQRSWLPDOHGHVYHUUHV EDUUHWWHVSRXUF{WpGURLWHWJDXFKH
(QWLqUHPHQWH[WUDFWLEOHDYHF]RQHGH /HFDGUHEODQFHVWUHPSODFpSDUOHV
ODYDJHDGGLWLRQQHOOHHQRSWLRQUDLOV EDUUHWWHVHQLQR[
SRXUFRXOLVVHPHQWVDQVHIIRUWHWDYHF /[3HQFP[
IHUPHWXUH6RIWFORVH +DXWHXUFP
5DFNPDWLFVXUQLYHDX[UpJODEOHHQ '$ ࡱ
KDXWHXUMXVTX
jFP %DUUHWWHVGHMRQFWLRQ ࡱ+7
3RLJQpHIDFLOLWDQWODSUpKHQVLRQGX HWGHILQLWLRQLQR[SRXUODYHYDLVVHOOH
SDQLHUVXSpULHXU KDXWHXUFP
EDUUHWWHVHQLQR[VHUYDQWjRFFXOWHU
O·HVSDFHHQWUHOHODYHYDLVVHOOHHWOH
F{WpGXPHXEOH
3HUPHWWHQWXQHPHLOOHXUHIL[DWLRQGH
O·DSSDUHLOGDQVODQLFKH
/HFDGUHEODQFHVWUHPSODFpSDUOHV
EDUUHWWHVHQLQR[
EDUUHWWHVSRXUF{WpGURLWHWJDXFKH
/[3HQFP[
+DXWHXUFP
'$ ࡱ
%DUUHWWHVGHMRQFWLRQ ࡱ+7
HWGHILQLWLRQLQR[SRXUODYHYDLVVHOOH
KDXWHXUFPHWODUJHXUFP
3HUPHWWHQWGHUHFRXYULUO
HVSDFHHQWUH
O
DSSDUHLOHWOHOHPHXEOHDGMDFHQW
3HUPHWWHQWXQHPHLOOHXUHIL[DWLRQGH
O
DSSDUHLOGDQVODQLFKH
EDUUHWWHVSRXUF{WpGURLWHWJDXFKH
/HFDGUHEODQFHVWUHPSODFpSDUOHV
EDUUHWWHVHQLQR[
/[3HQFP[
3DQLHULQIpULHXU 6XSSRUWVjYHUUHGLYLVLEOHV +DXWHXUFP
SLFRWVjDVVLHWWHVUDEDWWDEOHV
pWDJqUHVUDEDWWDEOHVSRXUXQH
SURWHFWLRQRSWLPDOHGHVYHUUHV '$ ࡱ
3DQLHUjFRXYHUWV &KDUQLqUH ࡱ+7
0RQWpVXUUDLOVTXLFRXOLVVHQWVDQV GHVXSSRUWGHSOLQWKHSRXUDOLJQHPHQW
HIIRUWHWjIHUPHWXUH6RIWFORVH DYHFODSRUWH
3RLJQpHIDFLOLWDQWODSUpKHQVLRQGX 3RXUWRXVOHVODYHYDLVVHOOH
SDQLHULQIpULHXU LQWpJUDWLRQWRWDOH
6ROXWLRQG·HQFDVWUHPHQWSRXU
KDXWHXUGHQLFKHMXVTX·jFP
/DFKDUQLqUHVHIL[HVXUOHVRFOHGH
O·DSSDUHLODYDQWOHPRQWDJHGHOD
SOLQWKHGXPHXEOH
+DXWHXUGHODSDUWLHKDXWHGHODSRUWH
GXPHXEOHVFLQGpH
FPSRXUDSSDUHLO
KDXWHXUFP
FPSRXUDSSDUHLO
KDXWHXUFP
'$ ࡱ
7LURLUjFRXYHUWVࡱ+7
DYHFUDLOVSRXUFRXOLVVHPHQWIDFLOH
7URLVLqPHQLYHDXGHUDQJHPHQW
DXGHVVXVGXSDQLHUVXSpULHXU
&RQYLHQWSRXUOHVFRXYHUWVGHJUDQGH
WDLOOHOHVXVWHQVLOHVGHFXLVLQHRXOHV
WDVVHVjH[SUHVVR(OqYHODFDSDFLWpGX
ODYHYDLVVHOOHjFRXYHUWV
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
/DYHYDLVVHOOH
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
'$ ࡱ '$ ࡱ
7LURLUjFRXYHUWV ࡱ+7 3DQLHUHQDOXPLQLXP ࡱ+7
7LURLUVXSOpPHQWDLUHHQLYHDX SRXUODSURWHFWLRQGHVFRXYHUWV
DXGHVVXVGXSDQLHUVXSpULHXU HQDUJHQWFRQWUHODFRUURVLRQ
,GpDOSRXUJUDQGVFRXYHUWVXVWHQVLOHV $SODFHUGLUHFWHPHQWGDQV
GHFXLVLQHHWWDVVHVH[SUHVVR OHSDQLHUjFRXYHUWV
&DSDFLWpFRXYHUWVVLXWLOLVDWLRQGHV /[+[3HQFP[[
QLYHDX[GHSDQLHUV
'$ ࡱ
6XSSRUWSRXUYHUUHV ࡱ+7
jORQJSLHG
3HUPHWXQSRVLWLRQQHPHQWVpFXULVpGH
YHUUHVjORQJSLHGSHQGDQWOH
GpURXOHPHQWGXSURJUDPPHHWDVVXUH
XQUpVXOWDWGHODYDJHRSWLPDO
$SODFHUGDQVOHSDQLHULQIpULHXU
'$ ࡱ
3RUWHSOHLQYHUUH ࡱ+7
VXULQR[SRXUODYHYDLVVHOOHGHFP
UpJODEOHHQKDXWHXUMXVTX
jPP
'$ ࡱ KDXWHXUGHjFP
HWLURLU ࡱ+7 /[3HQFP[
DYHFUDLOVSRXUFRXOLVVHPHQWIDFLOH 3RLJQpH/[3[HQFP
3RXUODYHYDLVVHOOHKDXWHXUFP [[
7LURLUVXSSOpPHQWDLUHHQLYHDX '$ ࡱ
DXGHVVXVGXSDQLHUVXSpULHXU 3RUWHSOHLQYHUUH ࡱ+7
3RXUGHSHWLWVEROVGHVWDVVHVHWGHV VXULQR[SRXUODYHYDLVVHOOHGHFP
XVWHQVLOHVGHFXLVVRQ UpJODEOHHQKDXWHXUMXVTX
jPP
(WDJqUHjFRXWHDX[PRELOH KDXWHXUGHjFP
/[3HQFP[
3RLJQpH/[3[HQFP
[[
*+ ࡱ
3RLJQpHYLV ࡱ+7
,QR[ORQJXHXUFP
,QWHUYDOOHGHSHUoDJHPP
*= ࡱ
5DOORQJH ࡱ+7
SRXU$TXD6WRSORQJXHXUPSRXU
WRXVOHVODYHYDLVVHOOH
'$ ࡱ
HWLURLU ࡱ+7
3RXUODYHYDLVVHOOHKDXWHXUFP
7LURLUVXSSOpPHQWDLUHHQLYHDXDXGHVVXV
GXSDQLHUVXSpULHXU
3RXUGHSHWLWVEROVGHVWDVVHVHWGHV
XVWHQVLOHVGHFXLVVRQ
(WDJqUHjFRXWHDX[PRELOH
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX
jWLWUHLQGLFDWLI
/DYHYDLVVHOOH
7\SHG
DSSDUHLO /DYHYDLVVHOOH /DYHYDLVVHOOH /DYHYDLVVHOOH
$SSDUHLO 7RXWLQWpJUDEOH 7RXWLQWpJUDEOH 7RXWLQWpJUDEOH
&RXOHXU
+DXWHXUDSSDUHLOFP ') ')
+DXWHXUDSSDUHLOFP ') ')
+DXWHXUDSSDUHLOFPDYHFSRUWHjFRXOLVVH '))
+DXWHXUDSSDUHLOFPDYHFSRUWHjFRXOLVVH '))
/DUJHXU&DSDFLWp
/DUJHXU FP
1RPEUHGHFRXYHUWV ó ó ó
7DLOOHGHVDVVLHWWHVMXVTX
j FP ñò ñò ñò
&RQVRPPDWLRQ1LYHDXVRQRUH
&ODVVHG
HZFDFLWppQHUJpWLTXHࡈ & & &
&ODVVHG
HZFDFLWpGHVpFKDJH $ $ $
3URJUDPPHWHVW (FR& (FR& (FR&
'XUpHGXSURJUDPPHࡉ KPLQ
&RQVRPPDWLRQG
HDXࡊ O
&RQVRPPDWLRQG
pQHUJLHࡋ N:K
&RQVRPPDWLRQDQQXHOOHG
pQHUJLHF\FOHV N:K
&RQVRPPDWLRQDQQXHOOHG
HDXF\FOHV O
1LYHDXVRQRUH G%$UHS:
&RQVRPPDWLRQG
pQHUJLHHQDUUrWYHLOOH :
'XUpHGXPRGHYHLOOH PLQ
3URJUDPPHV
1RPEUHGHSURJUDPPHVRSWLRQV
3URJUDPPHV $XWR&& $XWR&& $XWR&&
$XWR&& $XWR&& $XWR&&
$XWR&& $XWR&& $XWR&&
,QWHQVLI& ,QWHQVLI&
(FR& (FR& (FR&
3URJUDPPHQXLW 3URJUDPPHQXLW
5DSLGH& 5DSLGH& 5DSLGH&
3HUVRQQDOLVDWLRQGHVIRQF 3HUVRQQDOLVDWLRQGHVIRQF 3HUVRQQDOLVDWLRQGHVIRQF
WLRQV3UpODYDJHSDUGpIDXW WLRQV3UpODYDJHSDUGpIDXW WLRQV3UpODYDJHSDUGpIDXW
2SWLRQV ,QWHQVLI ,QWHQVLI ,QWHQVLI
3RZHUPLQ 3RZHUPLQ 3RZHUPLQ
'HPLFKDUJH 'HPLFKDUJH 'HPLFKDUJH
+\JLqQH +\JLqQH
(QWUHWLHQGHO
DSSDUHLO
&DUDFWpULVWLTXHV
3URWHFWLRQGHVYHUUHVDYHF=pROLWH3URWHFWLRQGHVYHUUHV ² ² ²
$TXDVHQVRU6HQVRUGHFKDUJH
'pWHFWLRQDXWRPDWLTXHGHVGpWHUJHQWV
5HFRQQDLVVDQFHGHVGpWHUJHQWV
5pJpQpUDWLRQpOHFWURQLTXH
(FKDQJHXUWKHUPLTXH
6pFKDJHEDVVHWHPSpUDWXUHDYHF=pROLWH
2XYHUWXUHDXWRPDWLTXHGHODSRUWH
&KDXWHHDXVRXVODFXYH
,QGLFDWHXUpOHFWURQLTXHGXPDQTXHGHVHOOLTXLGHGHULQoDJH
,QGLFDWHXUGHO
DUULYpG
HDX
$ZFKDJHGXWHPSVUHVWDQW
7LPHOLJKWSURMHFWLRQDXVROGXWHPSVUHVWDQW ²
,QIR/LJKWODWpUDO,QIR/LJKW ²² ² ²²
5pGXFWLRQYH[LEOHGXWHPSVGXF\FOH
(FODLUDJHRSWLPDOSDQQHDXDUULqUHVSRWV/(' ² ² ²
'pSDUWGLWpUp K K K
6HUYLFH'LJLWDO+RPH&RQQHFWYLD:L)L
6\VWqPHGHIHUPHWXUHGRXFH
7ULSOHV\VWqPHGH=OWUDJH
7LURLUjFRXYHUWV '$ '$ '$
qPHSDQLHU '$ '$ '$
6\VWqPHGHUDLOVFRXOLVVDQWVIHUPHWXUHDPRUWL ²
3LFRWVUDEDWDEOHVGDQVSDQLHUVXSpULHXUSDQLHULQIpULHXU
(WDJqUHVUDEDWDEOHVGDQVSDQLHUVXSpULHXUSDQLHULQIpULHXU
5DFNPDWLFVXUQLYHDX[
$TXDVWRS
'LWXVHXUPXOWLMHWV*DVWUR1RUP6XSSRUWSRXUYHUUHVjORQJVSLHGV ²²
5DFFRUGHPHQW
5DFFRUGSRVVLEOHHDXFKDXGHHDXIURLGH
3XLVVDQFHWRWDOH N:
(TXLSHPHQWGHVpULH²1RQGLVSRQLEOH
ñ$SSDUHLOKDXWHXUFPò$SSDUHLOKDXWHXUFPó$YHFDFFHVVRLUHVSpFLDO'$ࡆ$YHFDFFHVVRLUHVSpFLDO'$
ࡇ9DOHXUVFDOFXOpHVVHORQODQRUPH(8ࡈ3RXUXQHFODVVHG
HIILFFDFLWppQHUJpWLTXHGH$j*ࡉ'XUpHGXSURJUDPPH(FR
ࡊ&RQVRPPDWLRQG
HDXHQOLWUHHQIRQFWLRQGXF\FOHSURJUDPPH(FRࡋ&RQVRPPDWLRQG
pQHJLHHQN:KF\FOHVSURJUDPPH(FR
/D&RQVRPPDWLRQUpHOOHGpSHQGGXW\SHG
DSSDUHLO
$FFHVVRLUHVSpFLDO/DFRQQHFWLRQ+RPH&RQQHFWQ
HVWSDVGLVSRQLEOHGDQVWRXVOHVSD\V
/DYHYDLVVHOOH
ó ࡆ ࡆ
ñò ñò ñò
([WUD'U\
²
PHVXUHVHQPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHOLQJHHW6qFKHOLQJH
6qFKHOLQJHSRPSHjFKDOHXU &RQVRPPDWLRQV
:7 &ODVVHG
HIILFDFLWppQHUJpWLTXH$
SRXUXQHFODVVLILFDWLRQGH$j'
² 7HFKQRORJLHSRPSHjFKDOHXU
² &RQGHQVHXUDXWRQHWWR\DQWSRXU &RQVHLOVG
LQVWDOODWLRQ
pOLPLQDWLRQDXWRPDWLTXHGHV &KDUQLqUHVjGURLWHUpYHUVLEOH
SHOXFKHV *UDQGKXEORWDYHFXQHRXYHUWXUHj
² 6pFKDJHXOWUDVLOHQFLHX[G%
² 6WHDP5HIUHVKUDIUDvFKLWHW 3LHGVUpJODEOHVHQKDXWHXU
GpIURLVVHOHOLQJHGpMjVHF (QFDVWUDEOHVRXVOHSODQGHWUDYDLO
² 6PDUW'U\VpOHFWLRQQHDXWRPDWLTXH KDXWHXUFP
PHQWOHSURJUDPPHGHVpFKDJHHQ 6HFRPELQHSDUIDLWHPHQWDYHFOH
VHUpIpUDQWDXGHUQLHUSURJUDPPH ODYHOLQJH:0
GHODYDJH 3RVVLELOLWpG
LQVWDOODWLRQHQFRORQQH
:7 ࡱ ² 6HFRPELQHSDUIDLWHPHQWDYHFOH DXGHVVXVGXODYHOLQJH:0
3RVDEOHHQFDVWUDEOH ࡱ+7 ODYHOLQJH:0 DYHFO
DFFHVVRLUHVSpFLDOFRUUHVSRQ
VRXVSODQRXVXSHUSRVDEOH GDQW:=DYHFSODWHDX
+RPH&RQQHFW %DQGHDXGHFRPPDQGH FRXOLVVDQWpJDOHPHQWVRXVODUpI6$9
/DUJHXUFP %RXWRQGHFRPPDQGHURWDWLIpFODLUp RXVDQVSODWHDXFRXOLVVDQW
+DXWHXUFP DYHFLQWHUUXSWHXUPDUFKHDUUrWLQWpJUp XQLTXHPHQWVRXVODUpI6$9
5pJODJHVSDUWRXFKHVVHQVLWLYHV
/HSUL[FRPSUHQG (FUDQW7)7DYHFDIILFKDJHWH[WHFODLUHW
SDQLHUSRXUOHVODLQDJHV V\PEROHV 9DOHXUVGHUDFFRUGHPHQW
$IILFKDJHGXGpURXOHPHQWGX 3XLVVDQFHDEVRUEpHN:
$FFHVVRLUHHQRSWLRQ SURJUDPPHHWGXWHPSVUHVWDQW &kEOHGHUDFFRUGHPHQWPDYHF
:$ ࡱ 'pSDUWGLIIpUpMXVTX
jKHXUHV SULVH
.LWG
LQVWDOODWLRQHQ ࡱ+7 'LIIpUHQWVVLJQDX[VRQRUHV
FRORQQHDYHFSODWHDXFRXOLVVDQW
&DUDFWpULVWLTXHVWHFKQLTXHV
3URJUDPPHVGHFRQWU{OHGHO
KXPLGLWp
HWGHODGXUpH
7HFKQRORJLHSRPSHjFKDOHXU
1HWWR\DJHDXWRPDWLTXHGXFRQGHQVHXU
)RQFWLRQ'pIURLVVHUVDQVF\FOHGH
ODYDJH
&\FOHDQWLIURLVVDJHHQILQGH
SURJUDPPH
)RQFWLRQUDMRXWGHOLQJH
6pFXULWpHQIDQWV
0RGXOH:,),LQWpJUpSRXUOHVVHUYLFHV
PRGH'LJLWDO+RPH&RQQHFW
/DGLVSRQLELOLWpGHODIRQFWLRQ+RPH
&RQQHFWGpSHQGGHODIRQFWLRQQDOLWp
GHVVHUYLFHV+RPH&RQQHFWGDQVOH
PHVXUHVHQPP
SD\VUHVSHFWLI/HVVHUYLFHV+RPH
&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQV
WRXVOHVSD\V3OXVG
LQIRUPDWLRQVVXU
ZZZKRPHFRQQHFWFRP
3URJUDPPHV
&RWRQ
6\QWKpWLTXHV
7H[WLOHVPL[WHV
&KHPLVHV
0LQXWHULHDLUFKDXG
/DLQHGDQVSDQLHU
+\JLqQH
6XSHU
6HUYLHWWHV
'pIURLVVHUOHVFRVWXPHV
'pIURLVVHUFKHPLVH
'pIURLVVHUFKHPLVHV
3URJUDPPHVVXSSOpPHQWDLUHV6PDUW
'U\VpFKDJHFRQQHFWp&RXYHUWXUHV
/LQJHULH6\QWKpWLTXHV'XYHWV
)LQLWLRQ/DLQH
2SWLRQV'pPDUUDJHjGLVWDQFH
'pIRXODJHDQWLIURLVVDJH5HSDVVDJH
IDFLOH'HJUpGHVpFKDJH$MXVWHPHQW
GHJUpGHVpFKDJH9LWHVVHG
HVVRUDJH
6pFKDJHGpOLFDW)RQFWLRQPpPRLUH
&DUDFWpULVWLTXHV
7DPERXUDYHFVWUXFWXUHHQQLG
G
DEHLOOH
6pFKDJHGHODODLQHVDQVTX
HOOHQH
UpWUpFLVVHQLV
HPPrOHJUkFHDXSDQLHU
GHVpFKDJHLQFOXV
&DSDFLWpYDULDEOHDXWRPDWLTXHGH
jNJ
(FODLUDJHLQWpULHXUGXWDPERXU
PHVXUHVHQPP
/HVSUL[GHVSURGXLWVV·HQWHQGHQWKRUV(FRSDUWLFLSDWLRQFISDJH
/DYHOLQJH
7\SHG
DSSDUHLO /DYHOLQJH
:0
&RXOHXU %ODQF
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQGHO
DSSDUHLO/[+[3 PP [[
+DXWHXUGHO
DSSDUHLOSRXUXQHLQVWDOODWLRQVRXVSODQ PP
&KDUQLqUH$QJOHG
RXYHUWXUHGXKXEORW *DXFKH
&DSDFLWp NJ
'RQQpVFRQVRPPDWLRQV1LYHDXVRQRUH
&ODVVHG
HZFDFLWppQHUJpWLTXHñ &
&ODVVHG
HZFDFLWpG
HVVRUDJH $
&RQVRPPDWLRQDQQXHOOHG
HVVRUDJHF\FOHVò N:K
&RQVRPPDWLRQG
HDXSURJUDPPHWHVWó O
&RQVRPPDWLRQG
pQHUJLHDSSDUHLOpWHLQWYHLOOH :
3URJUDPPHWHVW (FR
9LWHVVHG
HVVRUDJHSURJUDPPHWHVWࡆ USP
'XUpHGXF\FOHSURJUDPPHFKDUJHFRPSOqWHGHPLFKDUJHࡇ PLQ
1LYHDXVRQRUHODYDJHSURJUDPPHWHVWHVVRUDJH G%
3URJUDPPHV
3URJUDPPHVGHODYDJH (FR
&RWRQ
&RWRQFRXOHXUV
5DSLGH0L[WH
'pOLFDW6RLH
/DLQH
(QWUHWLHQIDFLOH
6XSHU
6SRUWV
&RXOHXUVIRQFpHV
$XWRPDWLTXH
$XWRPDWLTXHGpOLFDW
3URJUDPPHVDGGLWLRQQHOV 0pPRLUH
2SWLRQV (VVRUDJH(QWUHWLHQIDFLOHSOXV&KHPLVH+\JLqQH1HWWR\DJHGXWDPERXU9LGDQJH
(FR3HUIHFW
L'RV
L'RV
6SHHG3HUIHFW
5LQoDJHSOXV5HSDVVDJHIDFLOH$UUrWFXYHSOHLQH:DWHUSOXV3UpODYDJH$QWLWkFKHV
DXWRPDWLTXH
7HPSpUDWXUHGHODYDJH & )URLG
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXH
(FUDQ7)7DYHFDZFKDJHWH[WHFODLUHWV\PEROHV
9R\DQWGHFKDUJHGXOLQJH
6\VWqPHLQWHOOLJHQWGHGRVDJH
,QGLFDWHXUGHGpURXOHPHQWGXSURJUDPPH
$ZFKDJHGXWHPSVUHVWDQW
'pSDUWGLWpUp K
)RQFWLRQ5DMRXWGHOLQJH
,QGLFDWHXUGH=QGHSURJUDPPH /XPLQHX[VRQRUH
$TXDVHQVRU&DSWHXUGHGpELW
'pELPqWUH6WDELOLVDWLRQDXWRPDWLTXH
$TXDVWRS
6\VWqPHDQWLIURLVVDJHGXOLQJH
6pFXULWpHQIDQW
1RPEUHGHEDFVjSURGXLWSRXUV\VWqPHL'RV
%DFVjSURGXLWDXWRQHWWR\DQW
*UDQGWDPERXUDYHFV\VWqPH9DULRVRIW
(FODLUDJHLQWpULHXU
0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHVPRGHGLJLWDO+RPH&RQQHFWࡈ
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
/RQJXHXUGXFkEOHGHFRQQH[LRQ FP
/RQJXHXUGXWX\DXG
DUULYpHG
HDX FP
/RQJXHXUGXWX\DXG
pYDFXDWLRQG
HDX FP
+DXWHXUGHYLGDQJHPD[LPXP FP
(TXLSHPHQWGHVpULH
ñ3RXUXQHFODVVHG
HIILFDFLWppQHUJpWLTXHVXUXQHpFKHOOHGH$j*
ò&RQVRPPDWLRQpQHUJpWLTXHHQN:KF\FOHVSURJUDPPH(FR
ó&RQVRPPDWLRQG
HDXHQOLWUHVF\FOHGHIRQFWLRQQHPHQWSURJUDPPH(FR
ࡆ/DYDOHXULQGLTXpHHVWDUURQGLH
ࡇ'XUpHGXSURJUDPPH(FR
ࡈ'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
9DOHXUVFDOFXOpHVVHORQODQRUPH(8
6qFKHOLQJHSRPSHjFKDOHXU /DYHOLQJHHW6qFKHOLQJH
7\SHG
DSSDUHLO 6qFKHOLQJH
:7
&RXOHXU %ODQF
'LPHQVLRQV
/DUJHXU FP
'LPHQVLRQVGHO
DSSDUHLO/[+[3 PP [[
+DXWHXUGHO
DSSDUHLOSRXUXQHLQVWDOODWLRQVRXVSODQ PP
&KDUQLqUH 'URLWHUpYHUVLEOH
$QJOHG
RXYHUWXUHGXKXEORW
&DSDFLWp NJ
'RQQpVFRQVRPPDWLRQV1LYHDXVRQRUH
&ODVVHG
HZFDFLWppQHUJpWLTXH $
&RQVRPPDWLRQDQQXHOOHF\FOHVñ N:K
3URJUDPPHWHVW &RWRQSUrWjUDQJHU
1LYHDXVRQRUH G%
3URJUDPPHV
3URJUDPPHV &RWRQ
(QWUHWLHQIDFLOH
0L[WH
&KHPLVHV
/DLQHGDQVSDQLHU
+\JLqQH
3URJUDPPHFKDXG
6HUYLHWWHV
6XSHU
&RVWXPHV
&KHPLVHVEORXVHV
&KHPLVHEORXVH
6PDUW'U\VpFKDJHFRQQHFWp
2SWLRQV 0pPRLUHHW
'HJUpGHVpFKDJH'pPDUUDJHjGLVWDQFH5HSDVVDJHIDFLOH$MXVWHPHQWGHJUpGH
VpFKDJH9LWHVVHG
HVVRUDJH6pFKDJHGpOLFDW
&DUDFWpULVWLTXHV
&RQWU{OHpOHFWURQLTXH
(FUDQ7)7DYHFDZFKDJHWH[WHFODLUHWV\PEROHV
,QGLFDWHXUGXGpURXOHPHQWGXSURJUDPPH
$ZFKDJHGXWHPSVUHVWDQW
'pSDUWGLWpUp K
,QGLFDWHXUGH=QGHSURJUDPPH 'LVSOD\VRQRUH
)RQFWLRQ5DMRXWGHOLQJH
7HFKQRORJLH3RPSHjFKDOHXUñ
5DIUDvFKLU
1HWWR\DJHDXWRPDWLTXHGXFRQGHQVHXU
6\VWqPHDQWLIURLVVDJHGXOLQJHjOD=QGXSURJUDPPH
6pFXULWpHQIDQW
7DPERXUHQLQR[DYHFVWUXFWXUHHQQLGG
DEHLOOH
+XEORWHQYHUUH
(FODLUDJHLQWpULHXU
0RGXOH:L)LLQWpJUpSRXUOHVVHUYLFHVHQPRGHGLJLWDO+RPH&RQQHFWò
5DFFRUGHPHQW
3XLVVDQFHWRWDOH N:
/RQJXHXUGXFkEOHGHFRQQH[LRQ FP
+DXWHXUGHYLGDQJHPD[LPXP FP
6WDQGDUG
ñ&RQVRPPDWLRQHIIHFWLYHVXLYDQWOHW\SHG
XWLOLVDWLRQGHO
DSSDUHLO
/DSRPSHjFKDOHXUGXVqFKHOLQJHFRQWLHQWGXJD]jHIIHWGHVHUUHGDQVXQFRQWHQDQWKHUPpWLTXHPHQWVFHOOpTXDQWLWpGHO
DJHQWUHIURLGLVVDQWNJ
ò'pSHQGGHODGLVSRQLELOLWpGHVVHUYLFHV+RPH&RQQHFWGDQVFKDTXHSD\V
397
Accessoires
/HV\VWqPH*DVWUR1RUP*DJJHQDX /HVDFFHVVRLUHVGXV\VWqPH*DVWUR1RUP
/HV\VWqPH*DVWUR1RUPIDLWSDUWLHGHVXVWHQVLOHVGHEDVHGHODFXLVLQH /HVDFFHVVRLUHVGXV\VWqPH*DVWUR1RUP*DJJHQDXVRQWXWLOLVDEOHVGDQVGLIIpUHQWV
SURIHVVLRQQHOOH,OSHUPHWXQGpURXOHPHQWRSWLPDOHWXQHRUJDQLVDWLRQ DSSDUHLOV*DJJHQDX
HIILFDFHGXWUDYDLOHQFXLVLQH/HVSODWVVRQWSUpSDUpVFXLVLQpVWHQXVDXFKDXG
FRQVHUYpVDXIUDLVRXPrPHUpJpQpUpVGDQVGHVUpFLSLHQWVGHWDLOOHVWDQGDUG 5pFLSLHQWV*DVWUR1RUP
&HVUpFLSLHQWVVRQWFRPSDWLEOHVDYHFQRVDSSDUHLOVGHIURLG9DULR6pULH *1
OHVIRXUVFRPELYDSHXUHWOHVODYHYDLVVHOOH
&HVUpFLSLHQWVVROLGHVHWGHKDXWHTXDOLWpGHVWLQpVjODFXLVVRQYDSHXU
SHXYHQWDXVVLrWUHXWLOLVpVSRXUOHPDLQWLHQDXIUDLVGDQVOHUpIULJpUDWHXU
RXELHQOHVHUYLFHjWDEOH,OVVRQWODYDEOHVDXODYHYDLVVHOOH3RXUXQHFXLVVRQ
3UpSDUDWLRQ VLPXOWDQpHGHSOXVLHXUVDOLPHQWVOHVSODWV*1SHXYHQWVHFRPELQHUDYHF
GHVSODWVSOXVSHWLWV*1TXLVRQWGLVSRQLEOHVHQWDQWTX·DFFHVVRLUHV
/DYDJH
5pIpUHQFHV5pIpUHQFHVRQOLQH
*1 ࡱ
5pFLSLHQW ࡱ+7
0DLQWHQLUDXIUDLV *DVWUR1RUPHQLQR[*1
&XLVVRQ QRQSHUIRUpSURIRQGHXUPPO
*1 ࡱ
3UpSDUDWLRQ 5pFLSLHQW ࡱ+7
3RXUXQHSUpSDUDWLRQGDQVXQpYLHU *DVWUR1RUPHQLQR[*1
DXIRUPDW*DVWUR1RUP SHUIRUpSURIRQGHXUPPO
5pIULJpUDWLRQ
3RXUXQPDLQWLHQDXIUDLVGDQVOHV )DLWRXWHQIRQWH*DVWUR1RUP
DSSDUHLOVGHIURLG9DULR6pULH *1
)DLWRXW*DVWUR1RUP*1+DXWHXUPP$QWLDGKpUHQW3HUPHWGHVDLVLUGDQV
&XLVVRQ OHIRXUDYHFODIRQFWLRQ)DLWRXW8WLOLVDWLRQLQGpSHQGDQWHGXSODWHWRXGXFRXYHUFOH
3RXUXQHFXLVVRQGDQVOHVIRXUV KDXWHXUPPPP6HSRVLWLRQQHGDQVOHIRXUDYHFO·DFFHVVRLUHUDLO
FRPELYDSHXU%6%63HQFRPELQDLVRQ WpOHVFRSLTXH%$%$UpVLVWDQFHGHFKDXIIH%$RX%$
DYHFO·DGDSWDWHXU*1HWGDQV jFRPPDQGHUVpSDUpPHQW6·XWLOLVHpJDOHPHQWGDQVOHIRXUYDSHXURXFRPELYD
OHVIRXUV%2%23HQFRPELQDLVRQ SHXUDYHFO¶DGDSWDWHXU*1HWOHV\VWqPHGHUDLOVWpOHVFRSLTXHV%$
DYHFOHUDLOWpOHVFRSLTXH%$ OHVUpIpUHQFHVVRQWjFRPPDQGHUVpSDUpPHQW
%$
5pIpUHQFHV5pIpUHQFHVRQOLQH
0DLQWHQLUDXFKDXG *1 ࡱ
3RXUXQPDLQWLHQDXFKDXGGDQVOHV )DLWRXW*DVWUR1RUP ࡱ+7
WLURLUVFKDXIIDQWV:6:63 HQIRQWHG·DOXPLQLXP*1
+DXWHXUPP
5pJpQpUDWLRQ
3RXUUpJpQpUHUGDQVOHVIRXUV
YDSHXUVHWFRPELYDSHXU%6%63RX
UpFKDXIIHUGDQVOHVIRXUV%2%23HQ 7HSSDQ<DNL
FRPELQDLVRQDYHFOHUDLOWpOHVFRSLTXH *1
%$%$
5pIpUHQFHV5pIpUHQFHVRQOLQH
/DYDJH *1 ࡱ
8QODYDJHHWXQVpFKDJHRSWLPDOGDQV 7HSSDQ<DNL ࡱ+7
QRVODYHYDLVVHOOHJUkFHDXVXSSRUW FRPSRVpGHPDWpULDX[
SRXUSODWV*DVWUR1RUP PXOWLFRXFKHV*1
3RXUWDEOHLQGXFWLRQ)XOO=RQH
&;
/[3[+ [[PP
*1 ࡱ
7HSSDQ<DNL ࡱ+7
FRPSRVpGHPDWpULDX[
PXOWLFRXFKHV*1
3RXUWDEOHLQGXFWLRQ)XOO=RQH
&;
/[3[+ [[PP
(WLTXHWWHpQHUJpWLTXH_+RPH&RQQHFW_$FFHVVRLUHV
3RLJQpHVSRXUPHXEOHV
3RXUXQHSDUIDLWHKDUPRQLHHQWUHYRVPHXEOHVGHFXLVLQHHWYRWUHpOHFWURPpQDJHU*DJJHQDXYRXVSURSRVHGHVSRLJQpHVDVVRUWLHVDX[DSSDUHLOV
GHIURLGGHODJDPPH9DULRHWDX[IRXUVGHOD6pULH
(QIRQFWLRQGHODORQJXHXUOHVSRLJQpHVVRQWOLYUpHVDYHFRXYLV
3RLJQpHVDYHFYLV 3RLJQpHVDYHFYLV
5pIpUHQFHV5pIpUHQFHVRQOLQH
5pIpUHQFHV5pIpUHQFHVRQOLQH
*+ ࡱ *+ ࡱ
,QR[ORQJXHXUFP ࡱ+7 ,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP ,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ *+ ࡱ
,QR[ORQJXHXUFP ࡱ+7 ,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP ,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[DVVRUWLj%23 ࡱ+7
ORQJXHXUFP
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
*+ ࡱ
,QR[ORQJXHXUFP ࡱ+7
,QWHUYDOOHGHSHUoDJHPP
5pIpUHQFHVSRXUFRPPDQGHUVXUODERXWLTXHHQOLJQHZZZJDJJHQDXFRP©H6KRSª
/HVSUL[LQGLTXpVVRQWpYROXWLIVHWQHVRQWGRQQpVTX¶jWLWUHLQGLFDWLI
/DYHUVLRQGHO
pWLTXHWWHpQHUJLH
YDODEOHMXVTX
DXIpYULHU
8WLOLVHUGHVDSSDUHLOVpOHFWURPpQDJHUVpFRQRPHVHQpQHUJLHYRXVSHUPHWGHSUpVHUYHUGHSUpFLHXVHVUHVVRXUFHVHW
UpGXLWOHPRQWDQWGHYRVIDFWXUHV&
HVWSRXUTXRLYRXVGHYH]WHQLUFRPSWHGHVIDLEOHVYDOHXUVGHFRQVRPPDWLRQG
pQHUJLH
HWG
HDXORUVTXHYRXVDFKHWH]XQDSSDUHLOpOHFWURPpQDJHU'HSXLVO
pWLTXHWWHpQHUJLHHXURSpHQQHIRXUQLWGHV
LQIRUPDWLRQVVWDQGDUGLVpHVFRQFHUQDQWODFRQVRPPDWLRQG
pQHUJLHHWG
HDXGHVDSSDUHLOVpOHFWURPpQDJHUV
/DSUpFpGHQWHPRGL=FDWLRQGDWDLWGHHWSRUWDLWVXUOHFRQWHQXHWODFRQFHSWLRQGHO
pWLTXHWWHpQHUJLH
/
pWLTXHWWHpQHUJLHVRXVODIRUPH$$HWFSUpFLVDLWODFODVVHG
HZFDFLWpGHO
DSSDUHLOFRQFHUQp
'HSOXVHOOHIRXUQLVVDLWGHVLQIRUPDWLRQVVXSSOpPHQWDLUHVVXUO
DSSDUHLOWHOOHVTXHVRQYROXPHVRQRUHHWVDFDSDFLWpDLQVL
TXHVDFRQVRPPDWLRQG
pQHUJLHHWG
HDX3RXUOHVODYHOLQJHHWODYHYDLVVHOOHO
pWLTXHWWHpQHUJLHDZFKDLWODFRQVRPPDWLRQ
G
pQHUJLHHWG
HDXHQYDOHXUVDQQXHOOHV
/DQRXYHOOHpWLTXHWWHpQHUJLH
YDODEOHjSDUWLUGXHUPDUV
/HVpYROXWLRQVWHFKQRORJLTXHVDXFRXUVGHFHVGHUQLqUHVDQQpHVVRQWjO
RULJLQHG
XQHDXJPHQWDWLRQGXQRPEUHGH
SURGXLWVFODVVpV$$RX$(QFRQVpTXHQFHO
pWLTXHWDJHQHUHPSOLVVDLWSOXVVDIRQFWLRQLQLWLDOHjVDYRLUDLGHUOHV
FRQVRPPDWHXUVjSUHQGUHXQHGpFLVLRQG
DFKDWFRPPHF
pWDLWOHFDVDXSDUDYDQW
/HFRPSRUWHPHQWGHVXWLOLVDWHXUVDpJDOHPHQWFKDQJp&
HVWSRXUTXRLLODpWpGpFLGpGHIDLUHpYROXHUO·pWLTXHWWHpQHUJLH
/HVSUHPLHUVDSSDUHLOVpOHFWURPpQDJHUVjSUpVHQWHUFHWWHQRXYHOOHpWLTXHWWHVRQWOHVODYHOLQJHOHVODYHOLQJHVpFKDQWV
OHVODYHYDLVVHOOHOHVUpIULJpUDWHXUVHWFRQJpODWHXUVSDUWLUGXHUPDUVFHVDSSDUHLOVGRLYHQWSRUWHUODQRXYHOOH
pWLTXHWWHORUVTX
LOVVHURQWYHQGXVHQPDJDVLQHQOLJQHHWF
/HFKDQJHPHQWOHSOXVVLJQL=FDWLIDSSRUWpjFHVQRXYHOOHVpWLTXHWWHVpQHUJLHHVWO
pOLPLQDWLRQGHVFODVVHVG
HZFDFLWp
pQHUJpWLTXHDFFRPSDJQpHVGXVLJQH©ªFRPPH©$ª
'pVRUPDLVODFODVVL=FDWLRQYDGH$j*'HQRXYHOOHVPpWKRGHVVRQWpJDOHPHQWXWLOLVpHVSRXUPHVXUHUODFRQVRPPDWLRQ
G
pQHUJLHHWGpWHUPLQHUODFODVVHG
pWLTXHWDJH6HORQOHVVSpFL=FDWLRQVHXURSpHQQHVHOOHVGRLYHQWGDQVODPHVXUHGX
SRVVLEOHWHQLUFRPSWHGHO
XWLOLVDWLRQUpHOOHGXSURGXLWSDUOHVFRQVRPPDWHXUV
&HODVLJQL=HSDUH[HPSOHTXHOHFDOFXOGHODFRQVRPPDWLRQG
pQHUJLHGHVODYHOLQJHGHVODYHOLQJHVpFKDQWVHWGHV
ODYHYDLVVHOOHQ·HVWSOXVEDVpVXUXQHDQQpHPDLVVXUF\FOHVGHODYDJH/DGXUpHGXSURJUDPPHGHUpIpUHQFHHVW
pJDOHPHQWVSpFL=pHSRXUFHVSURGXLWV
/HSURJUDPPHGHUpIpUHQFHTXLVHUWGHEDVHSRXUOHVWHVWVHWGpFODUDWLRQVGHYDOHXUVSRXUO
pWLTXHWDJHGHVODYHOLQJHHW
ODYHOLQJHVpFKDQWVDpWpPRGL=p/HQRXYHDXSURJUDPPH©(FRªHVWVXUOHEDQGHDXGHFRPPDQGHGHO
DSSDUHLO(Q
RXWUHFHVDSSDUHLOVVRQWGpVRUPDLVVRXPLVjGHVH[LJHQFHVHQFRUHSOXVpOHYpHVHQFHTXLFRQFHUQHOHXUSHUIRUPDQFHGH
ODYDJHDLQVLTX
jXQHH[LJHQFHPLQLPDOHHQFHTXLFRQFHUQHOHXUHWHWGHULQoDJH3RXUOHVODYHYDLVVHOOHODFRPSRVLWLRQ
GXQRPEUHGHFRXYHUWVVWDQGDUGHVWpJDOHPHQWPRGL=pH&
HVWSRXUFHVUDLVRQVHQWUHDXWUHVTX
LOQ
HVWSDVSRVVLEOH
GHFRQYHUWLUGLUHFWHPHQWOHVDFWXHOOHVFODVVHVG
HZFDFLWpHQQRXYHOOHVFODVVHV'HSOXVYRXVSRXYH]GpVRUPDLVREWHQLU
SOXVG
LQIRUPDWLRQVVXUOHSURGXLWHQVFDQQDQWOH45FRGHDZFKpVXUO
pWLTXHWWHpQHUJLHTXLYRXVUHQYHUUDjXQHEDVHGH
GRQQpHVGHO
8(9RXVSRXUUH]\FRQVXOWHUHW\WpOpFKDUJHUGHVGRFXPHQWVSRXUWRXVOHVDSSDUHLOVTXLIRQWO
REMHWG
XQH
QRXYHOOHpWLTXHWWHpQHUJLH/DEDVHGHGRQQpHVHVWpJDOHPHQWDFFHVVLEOHVXULQWHUQHW3RXUSOXVG
LQIRUPDWLRQVVXUOD
QRXYHOOHpWLTXHWWHpQHUJLHFRQVXOWH]OHVLWHZZZJDJJHQDXFRP
(WLTXHWWHpQHUJpWLTXH_+RPH&RQQHFW_$FFHVVRLUHV
0RGqOHG·pWLTXHWWHpQHUJLHSRXUODYHYDLVVHOOH
/DFODVVHG·HZFDFLWppQHUJpWLTXHGHVODYHYDLVVHOOHHVWWRXMRXUVEDVpHVXUOHSURJUDPPH
©(FRª&HSHQGDQWODQRUPHGHWHVWDFKDQJp3DUH[HPSOHGHVWDVVHVjFDIpGHVEROV
HQDFLHULQR[\GDEOHHWGHVXVWHQVLOHVHQSODVWLTXHVHURQWGRUpQDYDQWXWLOLVpVSRXUpYDOXHU
ODSHUIRUPDQFHGHODYDJHHWGHVpFKDJHD=QGHPLHX[UHSUpVHQWHUOHVKDELWXGHVGHV
FRQVRPPDWHXUV
'HSOXVODGXUpHGXSURJUDPPH(FRHVWGpVRUPDLVLQGLTXpH&HSURJUDPPH
SDUWLFXOLqUHPHQWUHVSHFWXHX[GHO·HQYLURQQHPHQWHWLGpDOSRXUODYDLVVHOOHQRUPDOHPHQW
VDOHHVWOHSOXVHZFDFHGXSRLQWGHYXHGHV©FRQVRPPDWLRQVG·pQHUJLHHWFRQVRPPDWLRQ
G·HDXFRPELQpHVª7RXWFRPPHSRXUOHVODYHOLQJHHWOHVODYHOLQJHVpFKDQWVOHFDOFXOGHOD
FRQVRPPDWLRQHQpQHUJLHVHUDEDVpVXUF\FOHVGHODYDJH
45FRGH
&ODVVHG·HZFDFLWppQHUJpWLTXH
&RQVRPPDWLRQHQpOHFWULFLWpHQN:KF\FOHVSURJUDPPH(FR
1RPEUHGHFRXYHUWVVWDQGDUGSRXUOHSURJUDPPH(FR
&RQVRPPDWLRQHQHDXHQOLWUHVF\FOHSURJUDPPH(FR
'XUpHGXSURJUDPPH©(FRª
1LYHDXVRQRUHHQG%$UHS:HWFDWpJRULHGHQLYHDXVRQRUH
/DYHOLQJH
8QGHVSULQFLSDX[FKDQJHPHQWVDSSRUWpVjO·pWLTXHWWHpQHUJLHGHVODYHOLQJHFRQFHUQHOD
PRGL=FDWLRQGXSURJUDPPHWHVWVHUYDQWGHUpIpUHQFHSRXUWRXWHVOHVYDOHXUVGHO·pWLTXHWWH
3DUH[HPSOHOHFDOFXOGHODFRQVRPPDWLRQG·pQHUJLHVHUDEDVpVXUF\FOHVGHODYDJH
HQSURJUDPPH©(FRª
FHOXLFLFRQYLHQWSRXUODYHUGHVWH[WLOHVHQFRWRQHQOLQRX
HQPpODQJHGH=EUHVQRUPDOHPHQWVDOHVTXLG·DSUqVOHXUV\PEROHG·HQWUHWLHQVRQWODYDEOHV
j&RX&/HVWH[WLOHVPHQWLRQQpVSHXYHQWrWUHODYpVHQPrPHWHPSVJUkFHjFH
SURJUDPPHTXLHVWOHSOXVHZFDFHGXSRLQWGHYXHGHV©FRQVRPPDWLRQVG·pQHUJLHHWG·HDX
FRPELQpHVª
45FRGH
&ODVVHG·HZFDFLWppQHUJpWLTXH
&RQVRPPDWLRQG·pQHUJLHSRQGpUpH
HQN:KSRXUF\FOHV
SURJUDPPH(FR
&DSDFLWpGHFKDUJHPD[LPDOH
'XUpHGXSURJUDPPH©(FRª
&RQVRPPDWLRQG·HDXSRQGpUpH
HQOLWUHVF\FOHGHODYDJH
SURJUDPPH(FR
&ODVVHG·HZFDFLWpG·HVVRUDJH
1LYHDXVRQRUHSHQGDQWO·HVVRUDJHHQG%$UHS:HWFDWpJRULHGHQLYHDXVRQRUH
(FR
$=QG¶DWWHLQGUHXQHHZFDFLWppQHUJpWLTXHRSWLPDOHXQHWHPSpUDWXUHGHODYDJHRSWLPDOHHVWSUpGp=QLHVHORQODFKDUJH/HFRQVRPPDWHXUQHSHXWSDVPRGL=HUFHWWH
WHPSpUDWXUH(QIRQFWLRQGHODFKDUJHHOOHSHXWrWUHGLWpUHQWHGHODWHPSpUDWXUHGHODYDJHVpOHFWLRQQpHD=QGHUpDOLVHUGHVpFRQRPLHVG¶pQHUJLH/DSHUIRUPDQFHGH
ODYDJHHVWFRQIRUPHDX[H[LJHQFHVOpJDOHV
9DOHXUVDSSOLFDEOHVDXODYDJHG¶XQTXDUWGHFKDUJHG¶XQHGHPLFKDUJHHWG¶XQHSOHLQHFKDUJH
5pIULJpUDWHXUVHWFRQJpODWHXUV
/DPpWKRGHXWLOLVpHSRXUGpWHUPLQHUODFODVVHpQHUJpWLTXHHVWPDLQWHQDQWSOXVFRPSOqWH
OHVWHVWVSUHQQHQWHQFRPSWHSDUH[HPSOHOHQRPEUHHWODWDLOOHGHVFRPSDUWLPHQWVGH
VWRFNDJHOHW\SHG·DSSDUHLOHWVRQSULQFLSHGHIRQFWLRQQHPHQW$LQVLOHVFRPSDUWLPHQWV
GHFRQJpODWLRQTXDWUHpWRLOHVGRLYHQWGpVRUPDLVDWWHLQGUHODWHPSpUDWXUHFLEOHHQ
KHXUHVDXOLHXGHKHXUHV
/DWHPSpUDWXUHDPELDQWHjODTXHOOHOHVWHVWVVRQWHWHFWXpVHVWGpVRUPDLV
GH&HW&DXOLHXGH&DXSDUDYDQW
45FRGH
&ODVVHG·HZFDFLWppQHUJpWLTXH
&RQVRPPDWLRQG·pQHUJLHHQN:KDQPHVXUpGDQVOHVQRXYHOOHVFRQGLWLRQV
VWDQGDUG
9ROXPHWRWDOGHWRXVOHVFRPSDUWLPHQWVGHFRQJpODWLRQHQOLWUHV
9ROXPHWRWDOGHWRXVOHVFRPSDUWLPHQWVGHUpIULJpUDWLRQHQOLWUHV
1LYHDXVRQRUHHQG%$UHS:HWFDWpJRULHGHQLYHDXVRQRUH
(WLTXHWWHpQHUJpWLTXH_+RPH&RQQHFW_$FFHVVRLUHV
&DYHjYLQ
7RXWFRPPHSRXUOHVDXWUHVpWLTXHWWHVOHVFODVVHVG
HZFDFLWppQHUJpWLTXHYRQW
pJDOHPHQWFKDQJHUSRXUO
pWLTXHWWHpQHUJLHGHVFDYHVjYLQ'HSOXVXQ45FRGH
HWODFDWpJRULHGHQLYHDXVRQRUH\VRQWpJDOHPHQWLQGLTXpV&RPPHDXSDUDYDQWOD
FRQVRPPDWLRQG
pQHUJLHDQQXHOOHHWOHQRPEUHGHERXWHLOOHVGHYLQVWDQGDUGSRXYDQWrWUH
VWRFNpHVVRQWWRXMRXUVDZFKpV
45FRGH
&ODVVHG·HZFDFLWppQHUJpWLTXH
&RQVRPPDWLRQG·pQHUJLHHQN:KDQPHVXUpGDQVOHVQRXYHOOHVFRQGLWLRQV
VWDQGDUG
&DSDFLWpHQQRPEUHGHERXWHLOOHVGHYLQVWDQGDUG
1LYHDXVRQRUHHQG%$UHS:HWFDWpJRULHGHQLYHDXVRQRUH
/DPDLVRQFRQQHFWpH
*DJJHQDXHW+RPH&RQQHFW
*DJJHQDXODGLIIpUHQFH
/HIXWXUGHODFXLVLQHQHIDLWTXHFRPPHQFHU ࠂ &RQQHFWp
/·DSSOLFDWLRQ+RPH&RQQHFWSHUPHWDX[DPDWHXUVGH &RPPDQGH
HWVXUYHLOODQFHjGLVWDQFH
FXLVLQHGHSUpFKDXIIHUOHIRXUGHPHWWUHHQPDUFKHOD 7pOpGLDJQRVWLFSDUXQWHFKQLFLHQHQOLJQH
YHQWLODWLRQGHGpPDUUHUOHF\FOHGXODYHYDLVVHOOHGH
ࠂ 3UDWLTXH
FRPPDQGHUGHVDFFHVVRLUHVVXUODERXWLTXHHQOLJQHGH
$FKDWG·DFFHVVRLUHVVXUODERXWLTXHHQOLJQH
WpOpFKDUJHUGHVQRWLFHVG·XWLOLVDWLRQHWGHIDLUHFRQWU{OHU
WpOpFKDUJHPHQWGHQRWLFHVG·XWLOLVDWLRQHWDFFqV
XQDSSDUHLOSDUXQWHFKQLFLHQWRXWFHODjGLVWDQFH
jQRWUHUpVHDXGHSDUWHQDLUHV
/·LQWHUDFWLRQDYHFGLIIpUHQWVV\VWqPHVGHGRPRWLTXHIDLW ࠂ ,QWpJUp
GHODFXLVLQHOHF±XUGHODPDLVRQFRQQHFWpH$LQVL &RPSDWLELOLWpDYHFGLIIpUHQWVV\VWqPHVGHGRPRWLTXH
O·DVVLVWDQWSHUVRQQHO$PD]RQ$OH[DSHXWSUpSDUHUXQ
FDIpRXDFWLYHUODYHQWLODWLRQWRXWHQYpULILDQWOHWHPSVGH (WFHQ·HVWTXHOHGpEXW
FXLVVRQUHVWDQW ([SORUH]WRXWHVOHVSRVVLELOLWpVVXUKRPHFRQQHFWFRP
/DGLVSRQLELOLWpGHVIRQFWLRQQDOLWpVGHO·DSSOLFDWLRQ+RPH&RQQHFW
1RQGLVSRQLEOHSRXUOHVWDEOHVGHFXLVVRQTXLQHVRQWSDVFRQoXHVSRXUXQH
GpSHQGGHVVHUYLFHV+RPH&RQQHFWSURSRVpVGDQVOHSD\VFRQFHUQp XWLOLVDWLRQVDQVVXUYHLOODQFH/DFXLVVRQGRLWrWUHHIIHFWXpHVRXVVXUYHLOODQFH
/HVVHUYLFHV+RPH&RQQHFWQHVRQWSDVGLVSRQLEOHVGDQVWRXVOHVSD\V
3OXVG·LQIRUPDWLRQVVXUZZZKRPHFRQQHFWFRP
Les prix indiqués ici sont les prix publics indicatifs définis par le fabricant à la date
d’impression (les prix figurant en orange se comprennent en Euros toutes taxes
comprises (TVA 20%), les prix en noir se comprennent hors taxes).
En conformité avec la règlementation en vigueur, il appartient à chaque revendeur
de fixer librement ses prix de vente auxquels s’ajoute l’Eco-participation (décret
n°2005/829 du 20 juillet 2005 et 2014/928 du 19 août 2014).
BSH Electroménager
Service Consommateurs Gaggenau
CS 90045
93582 Saint Ouen Cedex
® Marques déposées. © 2021 réalisé par BSH Electroménager. Mise en page Alexandre Besson. Imprimé en Europe. 03/2021
Rejoignez-nous sur mygaggenau.fr
Cours de cuisine, événements culinaires,
recettes de chefs.
Showroom Paris
7 rue de Tilsitt, 75017 Paris
Nouvelle adresse à compter de septembre :
240 Bd Saint-Germain 75007 Paris
Téléphone 01 58 05 20 20
[email protected]
Interventions à domicile :
Par téléphone : 01 40 10 42 12
accessible 24h/24, 7j/7
(prix d’un appel local, hors jours fériés)
En ligne :
gaggenau.com/fr/services/service-consommateur
www.gaggenau.com