5e*/$*( '8 32,*1e(
$9(57,66(0(17
DMXVWH] OD SRLJQpH DX[LOLDLUH DVVXUH] YRXV
TX·HOOH UHVWH DX GHVVXV GH O·HWLTXHWWH GH Vp
FXULWp HW DX GHVVRXV GH OD PDUTXH RX GH OD
IOqFKH VXU O·D[H
)$0,/,$5,6(= 9286 $9(& 9275( $33$5(,/
/,6(= %,(1 &( 0$18(/ (7 /(6 5Ë*/(6 '( 6e&85,7e $9$17 '·87,/,6(5 9275( $3
3$5(,/ &RPSDUH] O·DSSDUHLO DX[ LOOXVWUDWLRQV SRXU ELHQ YRLU R VH WURXYHQW OHV FRPPDQGHV
&RQVHUYH] FH PDQXHO SRXU YRXV \ UHSRUWHU SOXV WDUG
33&
3URWHFWHXU
/DPH GH OLPLWHXU GX ILO
7rWH GH FRXSH
/DPH GH OLPLWHXU GX ILO
,17(55837(85 0$5&+($55È7
216723
/·LQWHUUXSWHXU 216723 HVW VXU OD SRLJQpH GH OD
JkFKHWWH G·DFFpOpUDWHXU HW HVW XWLOLVp SRXU DUUrWHU
OH PRWHXU 3RXU DUUrWHU OH PRWHXU PHWWH] O·LQWHU
UXSWHXU 216723 j OD SRVLWLRQ 6723
32,5( '·$025d$*(
/D 32,5( '·$025d$*( HQOqYH O·DLU GHV
FDUEXUDWHXU HW FRQGXLWHV GH FDUEXUDQW HW OHV
UHPSOLW GH FDUEXUDQW &HOD YRXV SHUPHW GH
PHWWUH OH PRWHXU HQ PDUFKH HQ WLUDQW PRLQV GH
IRLV OH FRUGH GH PLVH HQ PDUFKH 8WLOLVH] OD
SRLUH G·DPRUoDJH HQ SUHVVDQW HW XQ OXL SHU
PHWWDQW GH UHSUHQGUH VD IRUPH LQLWLDOH
$9$17 '( )$,5( 'e0$55(5 /(
027(85
$9(57,66(0(17
FRPPHQFHU QH PDQTXH] SDV GH OLUH OHV
LQVWUXFWLRQV GH WUDLWHPHQW GX FDUEXUDQW GHV
UqJOHV GH VpFXULWp GH FH PDQXHO 6L YRXV QH
OHV FRPSUHQH] SDV Q·HVVD\H] SDV GH UHPSOLU
YRWUH DSSDUHLO 'HPDQGH] O·DLGH GH TXHOTX·XQ
TXL OHV FRPSUHQG RX DSSHOH] QRWUH OLJQH G·DLGH
DX[ FRQVRPPDWHXUV DX
4XDQG YRXV
)21&7,211(0(17
5DFFRUG
$[H
336
3URWHFWHXU
*kFKHWWH
G·DFFpOpUDWHXU
$YDQW
'HVVHUUH] O·pFURX SDSLOORQ GH OD SRLJQpH
)DLWHV WRXUQHU OD SRLJQpH VXU O·D[H MXVTX·j
FH TX·HOOH VRLW GURLWH UHVVHUUH] O·pFURX SD
SLOORQ
3RLJQpH DX[LOLDLUH
3RLJQpH GH OD FRUGH GH GpPDUUDJH
/HYLHU GH O·pWUDQJOHXU
e75$1*/(85
/·e75$1*/(85 DLGH j DOLPHQWHU OH PRWHXU
HQ FDUEXUDQW HW SHUPHW GH PHWWUH HQ PDUFKH
XQ PRWHXU IURLG 8WLOLVH] O·pWUDQJOHXU HQ PHW
WDQW OH OHYLHU GH O·pWUDQJOHXU HQ SRVLWLRQ ©)8//
&+2.(ª 6L OH PRWHXU WRXUQH FRPPH V·LO DOODLW
GpPDUUHU DYDQW OH FLTXLqPH FRXS PHWWH]
O·pWUDQJOHXU HQ SRVLWLRQ ©+$/) &+2.(ª
$SUpV OH GpSDUW GX PRWHXU PHWWH] O·pWUDQJOHXU
HQ SRVLWLRQ ©581ª
5$&&25'
/D 5$&&25' YRXV SHUPHW GH PRQWHU j YRWUH
DSSDUHLO GHV DFFHVVRLUHV HQ RSWLRQ
eWDWV 8QLV
&DQDGD
&$3$&,7e '·+8,/(
GH
/H PRWHXU GLVSRVH G·HQYLURQ P/ RQFHV
OLTXLGHV G·KXLOH 8WLOLVHU VHXOHPHQW XQH KXLOH
GH KDXWH TXDOLWp GpWHUJHQWH pYDOXpH VHORQ OD
FODVVLILFDWLRQ 6- 6/ GHV QRUPHV $3, &KRLVLU
OH JUDGH GH YLVFRVLWp G·KXLOH 6$( FRQIRUPp
PHQW j YRWUH WHPSpUDWXUH GH IRQFWLRQQHPHQW
SUpYXH 3RXU OD SOXSDUW GHV DSSOLFDWLRQV
,QWHUUXSWHXU 216723
6LOHQFLHX[
3RLUH
G·DPRUoDJH
RX
OH
