Mode d'emploi | Panasonic TX29AS10DB Operating instrustions

QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
7 O YLVHXU FRXOHXU
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
0RGH G
HPSORL
3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3
QDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQ
)UDQ˜DLV
VRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDV
QLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQ
74%('
Fk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLFk3DQDVRQLF
3DQDVRQLF 3DQDVRQLF 3DQDVRQLF 3DQDVRQLF 3DQDVRQLF 3
7;$6'%
%,(19(18(
&KHU FOLHQW 3DQDVRQLF
%LHQYHQXH GDQV OD IDPLOOH GHV XWLOLVDWHXUV GH SURGXLWV 3DQDVRQLF 1RXV HVS URQV TXH FH W O YLVHXU FRXOHXU
YRXV SURFXUHUD GHV DQQ HV GH MRLH &HW DSSDUHLO WDQW H[WUûPHPHQW VRSKLVWLTX QRXV YRXV UHFRPPDQGRQV
GH YRXV UHSRUWHU WRXW G
DERUG DX JXLGH GH PLVH HQ URXWH UDSLGH DYDQW GH SUHQGUH FRQQDLVVDQFH GX PRGH
G
HPSORL FRPSOHW TXH YRXV GHYUH] FRQVHUYHU VRLJQHXVHPHQW GHV ILQV GH U I UHQFH XOW ULHXUH
7$%/( '(6 0$7,(5(6
$YHUWLVVHPHQWV HW SU FDXWLRQV /LDLVRQ 4/LQN $FFHVVRLUHV 6 OHFWLRQ HW FRQILJXUDWLRQ $9 *XLGH GH PLVH HQ URXWH UDSLGH )RQFWLRQ 0DJQ WRVFRSH/HFWHXU GH
&RPPDQGHV SULQFLSDOHV YLG RGLVTXH '9' 8WLOLVHU OHV PHQXV VXU FUDQ )RQFWLRQ 7 O WH[WH $MXVWDJH GX IRUPDW GH O
LPDJH &RQQH[LRQV DXGLRYLG R $9 0HQX ,PDJH 3ULVHV DYDQW $9 EURFKHV 69LG R
0HQX 6RQ 5&$ $XGLR9LG R HW SULVHV FDVTXH 0HQX &RQILJXUDWLRQ %URFKDJH GHV SULVHV 3(5,7(/ HW 69LG R 0HQX 5 JODJH 9LD OHV SULVHV DUULýUH 3(5,7(/ EURFKHV
0HQX 5 JODJH (GLWLRQ GHV SURJUDPPHV $9 $9 HW OD SULVH GH VRUWLH DXGLR 5&$ 0HQX 5 JODJH &RQILJXUDWLRQ DXWRPDWLTXH 'LDJQRVWLF GHV SDQQHV 0HQX 5 JODJH 5 JODJH PDQXHO ,QIRUPDWLRQV J Q UDOHV /DQJXH 26' &DUDFW ULVWLTXHV $9(57,66(0(176 (7 35þ&$87,216
- &H W O YLVHXU HVW FRQ˜X SRXU IRQFWLRQQHU VXU XQ U VHDX GH
9 +] &$
- 1
H[SRVH] MDPDLV OH W O YLVHXU OD SOXLH RX XQH VRXUFH
G
KXPLGLW H[FHVVLYH GHV FKRFV OHFWULTXHV RX PûPH XQ
ULVTXH G
LQFHQGLH SRXUUDLW HQ U VXOWHU HW HQGRPPDJHU
O
DSSDUHLO
- $77(17,21 +$87( 7(16,21 1H UHWLUH] MDPDLV OH FRXYHUFOH DUULýUH SRXU QH SDV ODLVVHU VDQV
SURWHFWLRQ OHV SLýFHV VRXV WHQVLRQ /H W O YLVHXU QH FRQWLHQW
DXFXQH SLýFH LQWHUQH U SDUDEOH SDU O
XWLOLVDWHXU
-
(YLWH] G
H[SRVHU OH W O YLVHXU GLUHFWHPHQW DX[ UD\RQV GX
VROHLO RX WRXWH DXWUH VRXUFH GH FKDOHXU
- /
LQWHUUXSWHXU PDUFKHDUUûW GH FH PRGýOH QH G FRQQHFWH SDV
WRWDOHPHQWOHW O YLVHXUGHO
DOLPHQWDWLRQVHFWHXU' EUDQFKH]
OD ILFKH GH OD SULVH PXUDOH VL OH W O YLVHXU QH GRLW SDV ûWUH XWLOLV
SHQGDQW XQH S ULRGH GH WHPSV SURORQJ H
- (175(7,(1 '( /
þ%þ1,67(5,( (7 '8 78%(
&$7+2',48(
' EUDQFKH] OD ILFKH GH OD SULVH PXUDOH 1HWWR\H] O
E QLVWHULH
HW OH WXEH FDWKRGLTXH O
DLGH G
XQ FKLIIRQ GRX[ O JýUHPHQW
KXPLGH HW G
XQ G WHUJHQW QRQ DEUDVLI 1
XWLOLVH] SDV GH
SURGXLWV GH QHWWR\DJH EDVH GH EHQ]RO RX GH S WUROH
0DQLSXOH] O
FUDQ GX W O YLVHXU DYHF VRLQ FDU FHOXLFL SHXW
SURGXLUH GH O
OHFWULFLW VWDWLTXH
- 8QH YHQWLODWLRQ VXIILVDQWH GRLW ûWUH SU YXH DILQ G
YLWHU XQH
YHQWXHOOHG W ULRUDWLRQGHVFRPSRVDQWV OHFWURQLTXHV,OIDXW
SU YRLU DX PRLQV XQ HVSDFH GH FP WRXW DXWRXU GX W O YLVHXU
PûPH VL FHOXLFL HVW SODF GDQV XQ PHXEOH RX HQWUH GHV
WDJýUHV
$&&(662,5(6
9 ULILH] TXH YRXV GLVSRVH] ELHQ GHV DFFHVVRLUHV VXLYDQWV
T
0RGH G
HPSORL
*DUDQWLH FRXYUDQW
OH W O YLVHXU
7 O FRPPDQGH
(85
3LOHV SRXU W O FRPPDQGH
[ 5 80
3LOHV SRXU W O FRPPDQGH
- $VVXUH]YRXV TXH OHV SLOHV VRQW FRUUHFWHPHQW
LQVWDOO HV
- 1H P ODQJH] SDV SLOHV QHXYHV HW SLOHV XV HV
5HWLUH] LPP GLDWHPHQW OHV SLOHV XV HV
- 1
XWLOLVH] SDV GH SLOHV GH W\SHV GLII UHQWV S H[
GHV SLOHV DOFDOLQHV HW DX PDQJDQýVH HW
Q
XWLOLVH] SDV GH SLOHV UHFKDUJHDEOHV 1L&DG
*8,'( '( 0,6( (1 5287( 5$3,'(
5DFFRUGH] O
DQWHQQH HW EUDQFKH] O
TXLSHPHQW DX[LOLDLUH
5 FHSWHXU VDWHOOLWH
$9
$9
28
0DJQ WRVFRSH
$9
$9
3D\V
'HXWVFKODQG
gVWHUUHLFK
)UDQFH
,WDOLD
(VSDxD
3RUWXJDO
1HGHUODQG
'DQPDUN
6YHULJH
1RUJH
6XRPL
%HOJLTXH
6XLVVH
(//$'$
((X
'pEXW $73
5pJO PDQXHO
&KRLVLU
SD\V
6RUWLU
6 OHFWLRQQH] OH SD\V 3RXU OD 6XLVVH HW OD %HOJLTXH
GH YRWUH FKRL[
FKRLVLVVH] OD ODQJXH
9 ULILH] G
DERUG TXH OH PDJQ WRVFRSH HVW HQ PRGH YHLOOH
%UDQFKH] OH W O YLVHXU HW DOOXPH]OH
$SSX\H] VXU OH ERXWRQ URXJH
&+
&+
$73 HQ FRXUV
5HFKHUFKH $WWHQGH] 693
&+ ;<=
79 $9 6RUWLU
/D FRQILJXUDWLRQ DXWRPDWLTXH YD FRPPHQFHU OHV FKDñQHV VRQW
LGHQWLIL HV HW P PRULV HV
6L XQ PDJQ WRVFRSH FRPSDWLEOH HVW EUDQFK OD SULVH $9 OHV
SDUDPýWUHV GH U JODJH GHV FKDñQHV VHURQW FRSL V VXU OH
PDJQ WRVFRSH YLD OD OLDLVRQ 4/LQN
9RLU SDJH 6L YRXV LQVWDOOH] XQ QRXYHDX PDJQ WRVFRSH FRPSDWLEOH
OD
WHFKQRORJLH 4/LQN YRXV SRXYH] PDLQWHQDQW O
DOOXPHU
/HV SDUDPýWUHV GH U JODJH FRUUHVSRQGURQW FHX[ GX W O YLVHXU
6L YRXV LQVWDOOH] XQ QRXYHDX PDJQ WRVFRSH FRPSDWLEOH
OD
WHFKQRORJLH 1(;79,(:/,1. YRXV GHYUH] ODQFHU OH W O FKDUJHPHQW
PDQXHOOHPHQW
5HSRUWH]YRXVDXPRGHG
HPSORLGXPDJQ WRVFRSHSRXUOHVG WDLOV
- 6L OH PDJQ WRVFRSH Q
D SDV DFFHSW OHV GRQQ HV W O G FKDUJ HV GX W O YLVHXU YRXV GHYUH] SHXWûWUH V OHFWLRQQHU O
RSWLRQ
7 O FKDUJHPHQW GX PHQX GX PDJQ WRVFRSH
- 6L OD OLDLVRQ 4/LQN QH IRQFWLRQQH SDV FRUUHFWHPHQW Y ULILH] OH UDFFRUGHPHQW OD SULVH $9 GX W O YLVHXU Y ULILH] TXH OH F EOH
3(5,7(/ XWLOLV HVW GX W\SH GLW € )XOO IXQFWLRQ  HW TXH OH PDJQ WRVFRSH HVW FRPSDWLEOH OD WHFKQRORJLH 4/LQN 1(;79,(:/,1. RX
XQH WHFKQRORJLH TXLYDOHQWH 9HXLOOH] YRXV UHQVHLJQHU DXSUýV GH YRWUH UHYHQGHXU SRXU OHV G WDLOV
- 3RXU SOXV G
LQIRUPDWLRQ VXU OD OLDLVRQ 4/LQN HW O
TXLSHPHQW GH FRQQH[LRQ UHSRUWH]YRXV DX[ SDJHV HW *8,'( '( 0,6( (1 5287( 5$3,'(
8QH O JýUH LQFOLQDLVRQ GH O
LPDJH SHXW ûWUH YLVLEOH RX GHV W FKHV FRORU HV SHXYHQW SDUIRLV DSSDUDñWUH GDQV OHV
FRLQV GH O
FUDQ SXUHW GHV FRXOHXUV 9RXV SRXYH] XWLOLVHU OD IRQFWLRQ GH FRUUHFWLRQ J RPDJQ WLTXH SRXU
OLPLQHU FHV G IDXWV VL Q FHVVDLUH
$VVXUH]YRXV WRXW G
DERUG TXH OHV SURF GXUHV GH W O FKDUJHPHQW $73 HW
4/LQN VRQW WHUPLQ HV
/
FUDQ QH GRLW DIILFKHU DXFXQ PHQX
$SSX\H] LFL SXLV UHO FKH] SRXU RXYULU OH YROHW
$SSX\H] GH PDQLýUH U S W H VXU OD WRXFKH ) MXVTX
DIILFKDJH GH OD IRQFWLRQ GH FRUUHFWLRQ J RPDJQ WLTXH
)
$SSX\H] GH PDQLýUH U S W H VXU OHV WRXFKHV kl RX
k l MXVTX
FH TXH O
LPDJH VRLW KRUL]RQWDOH
Y
$SSX\H] QRXYHDX VXU OD WRXFKH ) SRXU UHWRXUQHU HQ
PRGH GH YLVXDOLVDWLRQ QRUPDO
5HIHUPH] OH YROHW SRXU SU YHQLU WRXW GRPPDJH
,O HVW UHFRPPDQG GH U JOHU OHV FRPPDQGHV GH O
LPDJH VXU
OHV QLYHDX[ GH YLVXDOLVDWLRQ VWDQGDUG GýV TXH OD SURF GXUH
$73 HVW WHUPLQ H 3RXU FH IDLUH DSSX\H] VXU OH ERXWRQ k1l
VLWX VRXV OH YROHW GH OD W O FRPPDQGH
9RXV SRXYH]
5pJODJH *pRPDJQHWLTXH
)
)
675
3RXU VRUWLU
5pJOHU
)
Y 79$9
1
SU VHQW UHJDUGHU QRUPDOHPHQW YRV PLVVLRQV
/H FXUVHXU YRXV SHUPHW GH U JOHU OHV GHX[ IRQFWLRQV
GH EDVH
5 JODJH GX YROXPH
&KDQJHPHQW GH FKDñQH
&200$1'(6 35,1&,3$/(6 )$—$'( (7 7þ/þ&200$1'(
$OLPHQWDWLRQ
6(&7(85 ERXWRQ 0DUFKH$UUûW
7 PRLQ URXJH G
WDW GH YHLOOH 8WLOLVH]
OH ERXWRQ 9HLOOH RX OHV WRXFKHV SRXU DOOXPHU OH W O YLVHXU
675 P PRULVDWLRQ QRUPDOLV H 3HUPHW GH
P PRULVHU OHV SDUDPýWUHV GH U JODJH GHV IRQFWLRQV
) V OHFWLRQ GHV IRQFWLRQV
$IILFKDJH GHV IRQFWLRQV VXU O
FUDQ XWLOLVHU GH ID˜RQ
U S W H SRXU V OHFWLRQQHU OHV IRQFWLRQV 9ROXPH
&RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH HQ
PRGH 176& *UDYHV $LJXùV %DODQFH HW PRGH
&RQILJXUDWLRQ HW &RUUHFWLRQ J RPDJQ WLTXH
7RXFKH 0$5&+($55ú7 G
WDW GH
YHLOOH
0LVH O
WDW GH YHLOOH GX W O YLVHXU
7RXFKHV GH PHQX
3RXU DFF GHU DX[ PHQXV ,PDJH 6RQ
HW &RQILJXUDWLRQ SDJH 7RXFKH (WDW
$SSX\H] SRXU REWHQLU O
DIILFKDJH GH OD
SRVLWLRQ GX SURJUDPPH GX QRP GX
SURJUDPPH GX QXP UR GH FDQDO GX
V\VWýPH 79 GH O
KHXUH GX PRGH
VW U R HW GX WDEOHDX GH SURJUDPPHV
7RXFKHV 7 O WH[WH SDJH 7RXFKH (QUHJLVWUHPHQW 79 GLUHFW
SDJH 7RXFKH 0DUFKH$UUûW G
HIIHW $PELDQFH
3ULVH FDVTXH SDJH 3ULVHV DXGLRYLG R 5&$
SDJH 3ULVH 6 9+6 SDJH &RPPXWDWHXU 79$9 SDJH $XJPHQWH RX GLPLQXH OD SRVLWLRQ GH SURJUDPPH
G
XQH XQLW /RUVTX
XQH IRQFWLRQ HVW G M DIILFK H
DSSX\H] SRXU DXJPHQWHU RX GLPLQXHU G
XQH XQLW
OD IRQFWLRQ V OHFWLRQQ H
&RXSXUH GX VRQ
&XUVHXUV SHUPHWWDQW OHV V OHFWLRQV HW
U JODJHV
6 OHFWLRQ HQWUH PRGHV W O YLVHXU HW
HQWU H $XGLR9LG R SDJH 7RXFKHV GH FRXOHXU SRXU IRQFWLRQV
þGLWLRQ GHV SURJUDPPHV SDJH )RQFWLRQV 7 O WH[WH SDJH 6 OHFWLRQ $9 SDJH 7RXFKHV GH FKDQJHPHQW GH
SURJUDPPHFKDñQH HW
WRXFKH 7 O WH[WH SDJH 7RXFKH GH FRPPDQGH $VSHFW
SDJH $FFýV GLUHFW DX[ FDQDX[ SHQGDQW
O
XWLOLVDWLRQ QRUPDOH GX W O YLVHXU
RX SDUWLU GHV PHQXV 5 JODJH
(GLWLRQ GH SURJUDPPH RX
&RQILJXUDWLRQ PDQXHOOH DSSX\H]
HW HQWUH] OH FDQDO YRXOX O
DLGH
GHV WRXFKHV QXP ULTXHV
/D WRXFKH 1 UDSSHOOH OHV U JODJHV
P PRULV V DYHF OD WRXFKH GH
P PRULVDWLRQ 675 P PRULVDWLRQ
QRUPDOLV H
6 OHFWLRQ GHV FKDñQHV GHX[ FKLIIUHV
O
DLGH GHV WRXFKHV
QXP ULTXHV
7RXFKHV PDJQ WRVFRSH /HFWHXU GH GLVTXHV '9' SDJH 7RXFKH +HOS $LGH ' PRQVWUDWLRQ
GX IRQFWLRQQHPHQW GHV PHQXV VXU
FUDQ
87,/,6(5 /(6 0(186 685 (&5$1
&H W O YLVHXU HVW TXLS G
XQ V\VWýPH YROX GH PHQXV DIILFKDJH VXU FUDQ TXL YRXV SHUPHWWHQW
G
DFF GHU DX[ U JODJHV HW DX[ RSWLRQV
&KRLVLU
0RGLILFDWLRQ
6RUWLU
79$9
7LWUH GX PHQX
6RXVPHQXV
%DUUH GH V OHFWLRQ
,QVWUXFWLRQV
,PDJH
&RQWUDVWH
/XPLQRVLWp
&RXOHXU
1HWWHWp
7HPS FRXOHXU
3 15
$,
1RUPDO
1RQ
2XL
,QGLFDWHXU G
RSWLRQ
&HUWDLQHV RSWLRQV FRPPH &RQWUDVWH /XPLQRVLW &RXOHXU HW 1HWWHW
SHUPHWWHQW G
DXJPHQWHU RX GH U GXLUH OH QLYHDX
&HUWDLQHV RSWLRQV FRPPH O
RSWLRQ 0LQXWHULH YHLOOH YRXV GHPDQGHQW GH IDLUH XQ
FKRL[
&HUWDLQHV RSWLRQV FRPPH OH PHQX &RQILJXUDWLRQ FRQGXLVHQW XQ DXWUH PHQX
/HV WRXFKHV ,0$*( 621 HW &21),*85$7,21
VRQW XWLOLV HV SRXU RXYULU OHV PHQXV SULQFLSDX[ HW
SRXU UHYHQLU DX PHQX SU F GHQW
3,&785(
6281'
6(7 83
/HV WRXFKHV GH FXUVHXU KDXW HW EDV SHUPHWWHQW GH
G SODFHU OH FXUVHXU YHUWLFDOHPHQW VXU OHV PHQXV
/HV FXUVHXUV JDXFKH HW GURLW SHUPHWWHQW G
DFF GHU
DX[PHQXV G
DMXVWHUOHV QLYHDX[RX GHV OHFWLRQQHU
OHV GLII UHQWHV RSWLRQV
/D WRXFKH 675 SHUPHW GH P PRULVHU OHV
SDUDPýWUHV DSUýV DYRLU HIIHFWX XQ U JODJH RX
U JO O
WDW G
XQH RSWLRQ
675
79$9
/D WRXFKH 79$9 SHUPHW GH VRUWLU GX V\VWýPH GH
PHQX HW GH UHYHQLU O
FUDQ 79 QRUPDO
/D WRXFKH +(/3 G PRQWUH OH IRQFWLRQQHPHQW GHV
PHQXV GLVSRQLEOHV $SSX\H] VXU OD WRXFKH +(/3
HW V OHFWLRQQH] O
XQH GHV RSWLRQV
+(/3
"
6L OD WRXFKH l+(/3l HVW DFWLRQQ H DORUV TX
XQ
PHQX HVW DIILFK OD lERñWH G
LQVWUXFWLRQVl VHUD
GLVVLPXO H $SSX\H] QRXYHDX VXU OD WRXFKH
l+(/3l SRXU DIILFKHU OD lERñWH G
LQVWUXFWLRQVl
$-867$*( '8 )250$7 '( /
,0$*(
$SSX\H] VXU OD WRXFKH $63(&7
SRXU SDUFRXULU OH PHQX GH TXDWUH
RSWLRQV G
DVSHFW $XWR HW
6 =RRP
$XWR
7RXWHIRLV VL YRXV V OHFWLRQQH] OH PRGH
$872 VXU FH W Y YLVHXU O
FUDQ
DIILFKHUD DXWRPDWLTXHPHQW OHV LPDJHV
UH˜XHV OHXU WDLOOH PD[LPXP
$63(&7
$XWR
$XWR
DIILFKHUD XQH LPDJH VRXV VRQ
IRUPDW
QRUPDO
9RXV
SRXYH]
V OHFWLRQQHUFHWWHRSWLRQ VLYRXVG VLUH]
YRLU O
LPDJH GDQV FH IRUPDW
$-867$*( '8 )250$7 '( /
,0$*(
DIILFKHUD XQH LPDJH VRXV VRQ
IRUPDWQRUPDO 9RXVSRXYH]V OHFWLRQHU
FHWWH RSWLRQ VL YRXV G VLUH] YRLU O
LPDJH
VRXV FH IRUPDW
6 =RRP
6=RRP
/H PRGH 6 =RRP YRXV SHUPHW
G
DJUDQGLU O
LPDJH HW GH OD G SODFHU
KRUL]RQWDOHPHQW HW YHUWLFDOHPHQW
/HV ERXWRQV GH V OHFWLRQ VXU FUDQ TXL
DSSDUDLVVHQW SRXU FHUWDLQHV IRQFWLRQV
G
DMXVWDJH GX IRUPDW GH O
LPDJH
GLVSDUDñWURQWDSUýVTXHOTXHVVHFRQGHV
6L YRXV VRXKDLWH] V OHFWLRQQHU XQH
RS UDWLRQ DSUýV OHXU GLVSDULWLRQ
DSSX\H] XQH IRLV GH SOXV VXU OD WRXFKH
$VSHFW SRXU IDLUH U DSSDUDñWUH FHV
ERXWRQV
+RUL] +RUL] 9HUWL 9HUWL
$JUDQGLVVHPHQW DYHF 6 =RRP
6L HQ PRGH $XWR OD WDLOOH GH O
LPDJH
Q
HVW SDV VDWLVIDLVDQWH ORUVTXH YRXV
SDVVH] GHV SURJUDPPHV HQ JUDQG
FUDQ
HQUHJLVWU V
VXU
YRWUH
PDJQ WRVFRSH LO VH SHXW TXH OD
FRPPDQGH $OLJQHPHQW GH YRWUH
PDJQ WRVFRSH DLW EHVRLQ G
XQ U JODJH
FRQVXOWH] OH PDQXHO GH YRWUH
PDJQ WRVFRSH
)21&7,21 67,// $55ú7 685 ,0$*(
)RQFWLRQ 67,// DUUûW VXU LPDJH
/D WRXFKH 67,// YRXV SHUPHW
G
HIIHFWXHU XQ DUUûW VXU LPDJH WRXW
PRPHQW
+2/'
67,//
0(18 ,0$*(
&H PHQX YRXV SHUPHW G
HIIHFWXHU WRXV OHV U JODJHV GH TXDOLW GH O
LPDJH
2XYUH] OH PHQX ,PDJH
&KRLVLU
5pJOHU
6 OHFWLRQQH] O
RSWLRQ GH YRWUH
FKRL[
79$9
,PDJH
$XJPHQWH] RX U GXLVH] OHV
QLYHDX[ RX U JOH] O
WDW GHV
RSWLRQV
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX ,PDJH
6RUWLU
&RQWUDVWH
/XPLQRVLWp
&RXOHXU
1HWWHWp
7HPSFROHXU
3 15
$,
79$9
1RUPDO
1RQ
2XL
&RQWUDVWH
/XPLQRVLW
&RXOHXU
&KRLVLU
/HV QLYHDX[ GH FRQWUDVWH OXPLQRVLW FRXOHXU HW QHWWHW SHXYHQW ûWUH U JO V
VHORQ YRV SU I UHQFHV
1HWWHW
7HLQWH
7HPS FRXOHXU
315
$,
/H U JODJH GH OD WHLQWH Q
DSSDUDñWUD HQ
WDQW TX
RSWLRQ GH PHQX TXH VL XQH
VRXUFH GH VLJQDO 176& HVW FRQQHFW H
DX W O YLVHXU SRXU YRXV SHUPHWWUH GH
U JOHU OD WHLQWH
5pJOHU
79$9
,PDJH
&RQWUDVWH
/XPLQRVLWp
&RXOHXU
1HWWHWp
7HPSFROHXU
3 15
$,
/H U JODJH G
TXLOLEUDJH GHV FRXOHXUV
YRXV SHUPHW GH U JOHU OD FRXOHXU
GRPLQDQWH GH O
LPDJH
315 U GXLW DXWRPDWLTXHPHQW
SDUDVLWHV LQG VLUDEOHV
OHV
/HU JODJH$,DQDO\VHDXWRPDWLTXHPHQW
O
LPDJH UH˜XH HW OXL DSSOLTXH XQ
WUDLWHPHQWSRXUDP OLRUHUOHFRQWUDVWHOD
SURIRQGHXU GH FKDPS HW OD YLYDFLW GHV
FRXOHXUV
1HWWHWp
1RUPDO
1RQ
2XL
6RUWLU
0(18 621
/H PHQX 6RQ YRXV SHUPHW GH U JOHU WRXV OHV DVSHFWV GX VRQ VHORQ YRV SU I UHQFHV
6281'
2XYUH] OH PHQX 6RQ
&KRLVLU
5pJOHU
6 OHFWLRQQH] O
RSWLRQ GH YRWUH
FKRL[
79$9
6RUWLU
6RQ
$XJPHQWH] RX GLPLQXH] OHV
QLYHDX[ RX U JOH] O
WDW GHV
RSWLRQV
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX 6RQ
9ROXPH
*UDYH
$LJX
%DODQFH
03;
0RGH
$PELDQFH
79$9
9ROXPH
*UDYH
$LJX
%DODQFH
03;
0RGH
$PELDQFH
6WpUpR
0XVLTXH
1RQ
&KRLVLU
/H U JODJH 9ROXPH YRXV SHUPHW GH
U JOHU OH QLYHDX GH YROXPH J Q UDO
/H U JODJH *UDYHV YRXV SHUPHW
G
DFFHQWXHU OHV IU TXHQFHV OHV SOXV
EDVVHV HW SHXW ûWUH DXJPHQW RX
GLPLQX /H U JODJH $LJXùV YRXV SHUPHW
G
DFFHQWXHU OHV IU TXHQFHV OHV SOXV
KDXWHV HW SHXW ûWUH DXJPHQW RX
GLPLQX 0RGLILFDWLRQ
79$9
6RQ
9ROXPH
*UDYH
$LJX
%DODQFH
03;
0RGH
$PELDQFH
6WpUpR
0XVLTXH
1RQ
/D EDODQFH DJLW VXU OHV QLYHDX[ VRQRUHV
HQWUH OHV KDXWSDUOHXUV GURLW HW JDXFKH
&HOD SHUPHW GH U JOHU OHV QLYHDX[
VRQRUHV HQWUH OHV KDXWSDUOHXUV HQ
IRQFWLRQ GH OD SRVLWLRQ G
FRXWH
03; HVW KDELWXHOOHPHQW U JO HQ PRGH
6W U R SRXU RIIULU OD PHLOOHXUH
UHSURGXFWLRQ VRQRUH (Q FDV GH
G JUDGDWLRQ GH OD U FHSWLRQ RX
G
LQGLVSRQLELOLW GX VHUYLFH QRXV YRXV
UHFRPPDQGRQV GH SDVVHU HQ PRGH
0RQR /HV PRGHV 0RQR 0 HW 0
SHXYHQW ûWUH V OHFWLRQQ V VL GHV
VLJQDX[ FRUUHVSRQGDQWV VRQW WUDQVPLV
6RUWLU
&KRLVLU
0RGLILFDWLRQ
79$9
6RUWLU
6RQ
9ROXPH
*UDYH
$LJX
%DODQFH
03;
0RGH
$PELDQFH
6WpUpR
0XVLTXH
1RQ
/H VRQ SHXW ûWUH DP OLRU GXUDQW OHV
PRGHV 0XVLTXH RX 3DUROH HQ
V OHFWLRQQDQW OD IRQFWLRQ DSSURSUL H
/
RSWLRQ $PELDQFH IRXUQLW XQH
VWLPXODWLRQ G\QDPLTXHTXL VLPXOHO
HIIHW
GH VRQ VSDWLDO DP OLRU 0(18 &21),*85$7,21
/H PHQX &RQILJXUDWLRQ YRXV SHUPHW G
DFF GHU GLYHUVHV IRQFWLRQV YROX HV DLQVL TX
DX PHQX
5 JODJH
6(7 83
2XYUH] OH PHQX &RQILJXUDWLRQ
6 OHFWLRQQH] O
RSWLRQ GH YRWUH
FKRL[
&KRLVLU
0RGLILFDWLRQ
$XJPHQWH] RX GLPLQXH] OHV
QLYHDX[ RX U JOH] O
WDW GHV
RSWLRQV
&RQILJXUDWLRQ
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
7 O WH[WH
79$9
79$9
6RUWLU
)/2)
1RQ
2XL
2XL
/
RSWLRQ 7 O WH[WH YRXV SHUPHW GH
FKRLVLU HQWUH OHV PRGHV 723)/2) RX
/,67 SDJH &KRLVLU
0RGLILFDWLRQ
0LQXWHULH YHLOOH
5HG6FLQW
/D PLQXWHULH GH YHLOOH SHUPHW GH
V OHFWLRQQHU O
KHXUH GH FRXSXUH GX
W O YLVHXU VXU XQH SODJH GH PLQXWHV LQWHUYDOOHV GH PLQXWHV
9RXV WURXYHUH] QRUPDOHPHQW TX
LO HVW
SU I UDEOH GH U JOHU OD IRQFWLRQ
5HG6FLQW VXU 0DUFKH SRXU U GXLUH OHV
O JHUV PRXYHPHQWV GH O
LPDJH ,O HVW
FHSHQGDQW SRVVLEOH TXH OD TXDOLW GH
FHUWDLQV SURJUDPPHV VRLW DP OLRU H HQ
V OHFWLRQQDQW OD SRVLWLRQ $UUûW
79$9
6RUWLU
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
)/2)
1RQ
2XL
2XL
&KRLVLU
4/LQN
5pJODJH
/DQJXHV 26'
/D OLDLVRQ 4/LQN YRXV SHUPHW G
DFWLYHU
RX GH G VDFWLYHU OD FRPPXQLFDWLRQ GH
GRQQQ HV DYHF XQ PDJQ WRVFRSH
FRPSDWLEOH SDJH /H PHQX 5 JODJH YRXV GRQQH DFFýV
GH QRPEUHXVHV DXWUHV IRQFWLRQV GRQW (GLWLRQ GHV SURJUDPPHV )RQFWLRQ $73
5 JODJH ILQ 6\VWýPH GH FRXOHXU HW
9ROXPH SDJH /H PHQX /DQJXH 26' YRXV SHUPHW GH
FKDQJHU OD ODQJXH XWLOLV H VXU WRXV OHV
PHQXV G
FUDQ SDJH 0RGLILFDWLRQ
79$9
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
)/2)
1RQ
2XL
1RQ
6RUWLU
0(18 5þ*/$*(
/H PHQX 5 JODJH YRXV SHUPHW G
DFF GHU DX[ PHQXV 5 JODJH PDQXHO 5 JODJH DXWRPDWLTXH HW
5 JODJH ILQ
&21),*85$7,21
2XYUH] OH PHQX &RQILJXUDWLRQ
&KRLVLU
$OOH] DX PHQX 5 JODJH
0RGLILFDWLRQ
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
6 OHFWLRQQH] O
RSWLRQ GH YRWUH
FKRL[
$XJPHQWH] RX GLPLQXH] OHV
U JODJHV U JOH] O
WDW GHV
RSWLRQV RX DFF GH] XQ DXWUH
PHQX
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU
3URJ VpOHFWLRQ
/
DFFýV DX PHQX (GLWLRQ GHV
SURJUDPPHV YRXV SHUPHW GH
G SODFHU G
LQV UHU G
HIIDFHU GH
QRPPHU HW GH EORTXHU OHV FKDñQHV HW
G
DFF GHU DX V\VWýPH 79 SDJH 5HFKHUFKH DXWR
5pJODJH PDQXHO
/H PHQX 5 JODJH PDQXHO YRXV
SHUPHW GH U JOHU PDQXHOOHPHQW OHV
SRVLWLRQV GH SURJUDPPHV LQGLYLGXHOV
SDJH 6\VWýPH FRXOHXU
5 JODJH YROXPH
' FRGHXU $9
)/2)
1RQ
2XL
1RQ
79$9
/H PHQX &RQILJXUDWLRQ DXWRPDWLTXH
YRXV SHUPHW
GH UHFRQILJXUHU
DXWRPDWLTXHPHQW YRWUH W O YLVHXU
SDJH 5 JODJH ILQ
6RUWLU
79$9
(QWUH] GDQV OH PHQX 5 JODJH
&HWWHRSWLRQYRXVSHUPHWG
HIIHFWXHUOH
U JODJH G
DFFRUG ILQ GHV FKDñQHV
/H PHQX 6\VWýPH FRXOHXU YRXV
SHUPHW GH FKRLVLU OH VWDQGDUG GH
WUDQVPLVVLRQ FRUUHFW
9RXV SHUPHW GH U JOHU OH QLYHDX GH
YROXPHGHFKDTXHFKDñQHLQGLYLGXHOOH
&HWWH RSWLRQ HVW XWLOLV H TXDQG XQ
G FRGHXU HVW FRQQHFW YLD $9 /D
PHWWUH O
WDW $&7,9þ VL XQ VLJQDO
FRG
GRLW ûWUH G FRG
SDU OH
G FRGHXU /D PHWWUH
O
WDW
G VDFWLY DSUýV O
XWLOLVDWLRQ
&KRLVLU
$FFpGHU
79$9
6RUWLU
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
)/2)
1RQ
2XL
1RQ
$FFpGHU
&+
&KRLVLU
$FFpGHU
5HYHQLU 79$9
675
6RUWLU
0pPR
5pJODJH
3URJ VpOHFWLRQ
5HFKHUFKH DXWR
5pJODJH PDQXHO
5pJODJH ILQ
6\VWqPH FRXOHXU
5pJODJH YROXPH
'pFRGHXU $9
$FFpGHU
$872
1RQ
0(18 5þ*/$*( þ',7,21 '(6 352*5$00(6
/H PHQX þGLWLRQ GHV SURJUDPPHV YRXV SHUPHW G
DMXVWHU OHV U JODJHV GH SRVLWLRQ GHV SURJUDPPHV
2XYUH] OH PHQX &RQILJXUDWLRQ
&21),*85$7,21
&KRLVLU
$OOH] DX PHQX 5 JODJH
0RGLILFDWLRQ
6RUWLU
79$9
&RQILJXUDWLRQ
(QWUH] GDQV OH PHQX 5 JODJH
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
$OOH] DX PHQX þGLWLRQ GHV
SURJUDPPHV
(QWUH] GDQV OH PHQX þGLWLRQ GHV
SURJUDPPHV
)/2)
1RQ
2XL
1RQ
(IIHFWXH] OHV FKDQJHPHQWV
YRXOXV UHSRUWH]YRXV DX[
VHFWLRQV VXLYDQWHV
$SSX\H] VXU OD WRXFKH 675 SRXU
P PRULVHU OHV FKDQJHPHQWV
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
&KRLVLU
$FFpGHU
6RUWLU
79$9
675
79$9
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
)/2)
1RQ
2XL
1RQ
$FFpGHU
3RXU HIIDFHU XQH SRVLWLRQ GH SURJUDPPH
LQXWLOH
&KRLVLU
&+
$FFpGHU
5HYHQLU 79$9
675
5pJODJH
&KRLVLVVH] OD SRVLWLRQ GH
SURJUDPPH
3URJ VpOHFWLRQ
5HFKHUFKH DXWR
5pJODJH PDQXHO
5pJODJH ILQ
6\VWqPH FRXOHXU
5pJODJH YROXPH
'pFRGHXU $9
$SSX\H] VXU OD WRXFKH URXJH GH
OD W O FRPPDQGH
$FFpGHU
$872
1RQ
&KDQJHU
SURJUDPPH
6pOHFWLRQQHU
$SSX\H] XQH QRXYHOOH IRLV VXU OD
WRXFKH URXJH SRXU YDOLGHU
5HYHQLU
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
79$9
(IIDF
6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
3URJ
&K
&+
6RUWLU
0pPR
1RP
;<=
,QVpU
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
&KDQJHU
6&
6&
6&
6&
6&
79!9&5
0(18 5þ*/$*( þ',7,21 '(6 352*5$00(6
3RXU DMRXWHU XQH SRVLWLRQ GH SURJUDPPH
&KRLVLVVH] OD SRVLWLRQ GH
SURJUDPPH RÖ VHUD LQV U OH
QRXYHDX SURJUDPPH
5HYHQLU
&KDQJHU
SURJUDPPH
6pOHFWLRQQHU
6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
$SSX\H] VXU OD WRXFKH YHUWH
3URJ
$SSX\H] GH QRXYHDX VXU OD WRXFKH
YHUWH SRXU YDOLGHU
&HWWH SRVLWLRQ YLHUJH SHXW
PDLQWHQDQW ûWUH FRQILJXU H
QRPP H EORTX H HW XWLOLV H SRXU OH
V\VWýPH GH W O YLVLRQ GH YRWUH
FKRL[
&K
&+
&+
1RP
;<=
=;<
(IIDF
,QVpU
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
6&
6&
6&
6&
6&
&KDQJHU
79!9&5
675
$SSX\H] VXU 675 SRXU P PRULVHU
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
3RXU G SODFHU XQ SURJUDPPH
79$9
XQH DXWUH SRVLWLRQ
5HYHQLU
$SSX\H] VXU OD WRXFKH MDXQH GH
OD W O FRPPDQGH
6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
3URJ
6 OHFWLRQQH] OD SRVLWLRQ TXH
YRXV VRXKDLWH] G SODFHU
&KDQJHU
SURJUDPPH
6pOHFWLRQQHU
&K
1RP
&+
%ORTXHU 6\V
;<=
&+
1RQ
1RQ
1RQ
1RQ
1RQ
=;<
(IIDF
,QVpU
&KDQJHU
6&
6&
6&
6&
6&
79!9&5
6 OHFWLRQQH] OD QRXYHOOH SRVLWLRQ
5HYHQLU
6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
$SSX\H] GH QRXYHDX VXU OD
WRXFKH MDXQH SRXU YDOLGHU
3URJ
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
&KDQJHU
SURJUDPPH
6pOHFWLRQQHU
79$9
(IIDF
&K
&+
1RP
;<=
&+
=;<
,QVpU
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
&KDQJHU
6&
6&
6&
6&
6&
79!9&5
0(18 5þ*/$*( þ',7,21 '(6 352*5$00(6
3RXU U JOHU XQH SRVLWLRQ GH SURJUDPPH
6 OHFWLRQQH] OD SRVLWLRQ GH
SURJUDPPH
$OOH]
0RGLILHU
OD FKDvQH
6pOHFWLRQQHU
5HYHQLU 6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
OD FRORQQH &DQDO
$XJPHQWH] RX U GXLVH] OH QXP UR
GH FDQDO RX XWLOLVH] OD WRXFKH &
SRXU O
DFFýV GLUHFW DX FDQDO
SDJH 3URJ
675
&K
&+
&+
1RP
;<=
=;<
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
6&
6&
6&
6&
6&
$SSX\H] VXU 675 SRXU P PRULVHU
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
79$9
3RXU FKDQJHU OH QRP G
XQH SRVLWLRQ GH
SURJUDPPH
&KRLVLVVH] OD SRVLWLRQ YRXOXH
5HYHQLU 3URJ
3RVLWLRQQH]YRXV VXU OH VHFRQG
FDUDFWýUH
&RQWLQXH] MXVTX
DX FKDQJHPHQW
FRPSOHW GX QRP
&K
1RP
%ORTXHU 6\V
&+
;<=
1RQ
1RQ
&+
=;<
1RQ
1RQ
1RQ
$ % & ' ( ) * + , - . / 0
1 2 3 4 5 6 7 8 9 : ; < =
6 OHFWLRQQH] OH QRXYHDX SUHPLHU
FDUDFWýUH
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
3RVLWLRQQH]YRXV VXU OH QRP
$SSX\H] VXU 675 SRXU P PRULVHU
&KDQJHU
FDUDFWLUH
6pOHFWLRQQHU
675
79$9
6&
6&
6&
6&
6&
0(18 5þ*/$*( þ',7,21 '(6 352*5$00(6
3RXU EORTXHU XQH SRVLWLRQ GH SURJUDPPH
DILQ G
HQ LQWHUGLUH O
DFFýV
6 OHFWLRQQH] OD SRVLWLRQ G VLU H
3RVLWLRQQH]YRXV VXU OD FRORQQH
%ORFDJH
5HYHQLU 6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
6 OHFWLRQQH] O
WDW %ORFDJH DFWLY
RX G VDFWLY
3URJ
$SSX\H] VXU 675 SRXU P PRULVHU
675
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
%ORTXHU
RXLQRQ
6pOHFWLRQQHU
79$9
&K
1RP
&+
;<=
&+
=;<
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
6&
6&
6&
6&
6&
1RWH
4XDQG XQH SRVLWLRQ GH SURJUDPPH HVW EORTX H
O
DFFýV GLUHFW DX FDQDO HQ XWLOLVDQW OD WRXFKH & HW OHV
WRXFKHV QXP ULTXHV GH OD W O FRPPDQGH Q
HVW SDV
GLVSRQLEOH
3RXU FKDQJHU OH V\VWýPH 79 SRXU XQH
SRVLWLRQ GH SURJUDPPH YRXOXH
6 OHFWLRQQH] OD SRVLWLRQ G VLU H
3RVLWLRQQH]YRXV VXU OD FRORQQH 6\V
&KRLVLVVH] OH V\VWýPH YRXOX 6& 3$/ %* + 6(&$0 %*
6& 3$/ ,
6& 3$/ '. 6(&$0 '.
)
6(&$0 //
$SSX\H] VXU 675 SRXU P PRULVHU
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
0RGLILHU OH
V\VWqPH 79
6pOHFWLRQQHU
5HYHQLU 6RUWLU
0pPR
79$9
675
3URJUDPPH VpOHFWLRQ
675
79$9
3URJ
&K
&+
&+
1RP
;<=
=;<
%ORTXHU 6\V
1RQ
1RQ
1RQ
1RQ
1RQ
6&
6&
6&
6&
6&
3RXU FRSLHU OHV SDUDPýWUHV GH SURJUDPPH VXU
$9
XQ PDJQ WRVFRSH FRPSDWLEOH FRQQHFW
$OOH]
OD FRORQQH 3URJ
$SSX\H] VXU OH ERXWRQ EOHX GH OD
W O FRPPDQGH
/HV SDUDPýWUHV GX SURJUDPPH
VRQW PDLQWHQDQW WUDQVPLV DX
PDJQ WRVFRSH &HOD SHXW SUHQGUH
TXHOTXHV VHFRQGHV VHORQ OH
QRPEUH GH FKDñQHV P PRULV HV
6L OH PHVVDJH k4 /LQN" 9HULILHU
WDW PDJQ WRVFRSHl DSSDUDñW
O
FUDQ OH W O YLVHXU Q
HVW SDV HQ
PHVXUH GH WUDQVPHWWUH OHV
GRQQ HV GH SURJUDPPH DX
PDJQ WRVFRSH 9HXLOOH] FRQVXOWHU
OH 0RGH G
HPSORL GX
PDJQ WRVFRSH SRXU SOXV GH
G WDLOV
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU GX PHQX þGLWLRQ GHV
SURJUDPPHV
79!9&5 (1 &2856
$77(1'(= 693
79$9
3URJUDPP 7pOpFRPPDQGH QRQ GLVSRQLEOH
0(18 5þ*/$*( $73 &21),*85$7,21 $8720$7,48(
/H PHQX &RQILJXUDWLRQ DXWRPDWLTXH YRXV SHUPHW GH UHFRQILJXUHU DXWRPDWLTXHPHQW YRWUH W O YLVHXU
HQ IRQFWLRQ GHV FKDñQHV GH W O YLVLRQ ORFDOHV &HWWH IRQFWLRQ HVW XWLOH HQ FDV GH G P QDJHPHQW
GDQV XQH DXWUH U JLRQ
2XYUH] OH PHQX &RQILJXUDWLRQ
6(7 83
&KRLVLU
&+
$FFpGHU
5HYHQLU $OOH] DX PHQX 5 JODJH
79$9
675
5pJODJH
(QWUH] GDQV OH PHQX 5 JODJH
$OOH] DX PHQX &RQILJXUDWLRQ DXWR
3URJ VpOHFWLRQ
5HFKHUFKH DXWR
5pJODJH PDQXHO
5pJODJH ILQ
6\VWqPH FRXOHXU
5pJODJH YROXPH
'pFRGHXU $9
6RUWLU
0pPR
$FFpGHU
$872
1RQ
(QWUH] GDQV OH PHQX
&RQILJXUDWLRQ DXWR
$SSX\H] SRXU FRQILUPHU HW
FRPPHQFHU
$77(17,21
$73 HIIDFHUD OHV GRQQqHV DFWXHOOHV
HW H[HFXWHUD XQ QRXYHDX UpJODJH
6 OHFWLRQQH] OH SD\V
'pEXW $73
5HYHQLU
$SSX\H] SRXU ODQFHU OD
FRQILJXUDWLRQ DXWRPDWLTXH $73
79$9
6RUWLU
3D\V
/H W O YLVHXU YD FKHUFKHU
LGHQWLILHU HW WULHU GDQV O
RUGUH OHV
FKDñQHV GH W O YLVLRQ ORFDOHV 6L
XQ PDJQ WRVFRSH FRPSDWLEOH HVW
FRQQHFW
OD SULVH $9 OHV
SDUDPýWUHV GHV SURJUDPPHV
VHURQW WUDQVPLV DXWRPDWLTXHPHQW
DX PDJQ WRVFRSH YLD OD OLDLVRQ
4/LQN SDJH 'HXWVFKODQG
gVWHUUHLFK
)UDQFH
,WDOLD
(VSDxD
3RUWXJDO
1HGHUODQG
'DQPDUN
6YHULJH
1RUJH
6XRPL
%HOJLHQ
6FKZHL]
(//$'$
((X
3D\V
'pEXW $73
5HYHQLU
79$9
6RUWLU
&+
8QH IRLV FHWWH RS UDWLRQ WHUPLQ H
OH W O YLVHXU DIILFKHUD OD SRVLWLRQ
GH SURJUDPPH $73 (1 &2856
5(&+(5&+(
&+
$77(1'(= 693
;<=
6(783 5HYHQLU DX PHQX FDQDX[
79$9 3RXU VRUWLU
0(18 5þ*/$*( 5þ*/$*( 0$18(/
/H U JODJH PDQXHO GHV SRVLWLRQV GH SURJUDPPHV SHXW V
HIIHFWXHU
FRPPDQGHV HQ ID˜DGH
SDUWLU GX PHQX VXU FUDQ RX GHV
0HQX 5 JODJH PDQXHO
2XYUH] OH PHQX &RQILJXUDWLRQ
6(7 83
$OOH] DX PHQX 5 JODJH
$FFpGHU
5HYHQLU 3URJ VpOHFWLRQ
5HFKHUFKH DXWR
5pJODJH PDQXHO
5pJODJH ILQ
6\VWqPH FRXOHXU
5pJODJH YROXPH
'pFRGHXU $9
5 JODJH PDQXHO
(QWUH] GDQV 5 JODJH PDQXHO
$FFpGHU
$872
1RQ
6 OHFWLRQQH] OD SRVLWLRQ GH
SURJUDPPH G VLU H
&+
3URJUDPPH
EDVKDXW
5HFKHUFKH
EDVKDXW
6RUWLU
0pPR
&RPPHQFH] OH U JODJH
4XDQG OH SURJUDPPH YRXOX HVW
ORFDOLV DSSX\H] VXU 675 SRXU
P PRULVHU
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU GX PHQX 5 JODJH
PDQXHO
6RUWLU
0pPR
79$9
675
5pJODJH
(QWUH] GDQV OH PHQX 5 JODJH
$OOH]
&KRLVLU
&+
5HYHQLU 675
79$9
79$9
675
5pJODJH PDQXHO
5 JODJH PDQXHO FRPPDQGHV HQ ID˜DGH
$SSX\H] VXU OD WRXFKH ) )D˜DGH
MXVTX
REWHQWLRQ GX PHQX €
5 JODJH 
)
&+
Y
6&
$SSX\H] VXU OD WRXFKH RX $SSX\H] VXU OD WRXFKH 79$9 SRXU
DOWHUQHU HQWUH € &KDQJHU
SURJUDPPH  € 5HFKHUFKH  RX €
&KDQJHU V\VWýPH 79 
$SSX\H] VXU RX SRXU FKDQJHU
GH SRVLWLRQ GH SURJUDPPH
FRPPHQFHU OD UHFKHUFKH RX
FKDQJHU OH V\VWýPH 79
4XDQG OD FKDñQH YRXOXH HVW
ORFDOLV H DSSX\H] VXU 675 SRXU
P PRULVHU
5 S WH] OD SURF GXUH FLGHVVXV
SRXU DFFRUGHU G
DXWUHV
SURJUDPPHV RX DSSX\H] VXU OD
WRXFKH ) SRXU VRUWLU
5pJODJH PDQXHO IDoDGH
79$9
79$9
675
)
'pEXWHU UHFKHUFKH
'pSODFHU OH FXUVHXU
3RXU PpPR
3RXU VRUWLU
Y
675
)
9
79$9
675
)
/$1*8( 26'
/RUV GH O
LQVWDOODWLRQ LQLWLDOH GX W O YLVHXU OD ODQJXH G
DIILFKDJH VXU FUDQ D W U JO H HQ IRQFWLRQ
GX SD\V GH YRWUH FKRL[ 9RXV SRXYH] FHSHQGDQW V OHFWLRQQHU XQH DXWUH ODQJXH SDUWLU GX PHQX
/DQJXHV 26'
&21),*85$7,21
2XYUH] OH PHQX &RQILJXUDWLRQ
&KRLVLU
$FFpGHU
6RUWLU
79$9
$OOH] DX PHQX /DQJXH 26'
&RQILJXUDWLRQ
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
(QWUH] GDQV OH PHQX /DQJXHV
26'
)/2)
1RQ
2XL
1RQ
$FFpGHU
6 OHFWLRQQH] O
RSWLRQ GH YRWUH
FKRL[
$SSX\H] VXU OD WRXFKH 79$9
SRXU YDOLGHU YRWUH V OHFWLRQ HW
VRUWLU
&KRLVLU
79$9
5HYHQLU /DQJXHV 26'
'HXWVFK
(QJOLVK
)UDQoDLV
,WDOLDQR
(//+1,.$
&KRLVLU
79$9
(VSDxRO
1RUVN
'DQVN
6YHQVND
6RUWLU
1HGHUODQGV
6XRPL
7UNoH
3RUWXJXrV
/,$,621 4/,1.
/D OLDLVRQ 4/LQN SHUPHW DX W O YLVHXU GH FRPPXQLTXHU DYHF YRWUH PDJQ WRVFRSH
6(7 83
2XYUH] OH PHQX &RQILJXUDWLRQ
&KRLVLU
$OOH]
0RGLILFDWLRQ
/LDLVRQ 4/LQN
79$9
6RUWLU
&RQILJXUDWLRQ
&RQILUPH] TXH OD OLDLVRQ 4/LQN
HVW O
WDW kDFWLY l
79$9
$SSX\H] VXU OD WRXFKH 79$9
SRXU VRUWLU
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
4 /LQN
5pJODJH
/DQJXHV 26'
)/2)
1RQ
2XL
2XL
/H PDJQ WRVFRSH GRLW ûWUH FRQQHFW SDU XQ F EOH 3(5,7(/ W\SH FRXYUDQW WRXWHV OHV IRQFWLRQV HQWUH OD SULVH $9 GX W O YLVHXU HW OD SULVH
FRUUHVSRQGDQWH GX PDJQ WRVFRSH &RQVXOWH] OH PRGH G
HPSORL GX PDJQ WRVFRSH SRXU WRXV UHQVHLJQHPHQWV FRPSO PHQWDLUHV /D
OLDLVRQ 4/LQN OD OLDLVRQ 1(;79,(:/,1. RX OHV WHFKQRORJLHV VLPLODLUHV SHUPHWWHQW DX W O YLVHXU GH FRPPDQGHU XQ PDJQ WRVFRSH
FRPSDWLEOH G
HQUHJLVWUHU OH SURJUDPPH UHWUDQVPLV FH PRPHQWO VXU O
FUDQ RX W O YLVHXU TXHOOH TXH VRLW OD SRVLWLRQ GH U JODJH GH
SURJUDPPH GX PDJQ WRVFRSH &HOD VLPSOLILH FRQVLG UDEOHPHQW O
HQUHJLVWUHPHQW GHV SURJUDPPHV
3RXU HQUHJLVWUHU O
PLVVLRQ TXH YRXV ûWHV HQ WUDLQ GH UHJDUGHU
$SSX\H] VXU OD WRXFKH ',5(&7 79 5(& GH OD W O FRPPDQGH
',5(&7
79 5(&
6L OH PDJQ WRVFRSH HVW WHLQW LO V
DOOXPH DXWRPDWLTXHPHQW TXDQG YRXV DSSX\H] VXU OD WRXFKH ',5(&7 79 5(&
8Q PHVVDJH SURYHQDQW GX PDJQ WRVFRSH V
DIILFKH VXU O
FUDQ GX W O YLVHXU SRXU LQGLTXHU FH TXL HVW HQUHJLVWU RX TXH O
HQUHJLVWUHPHQW
GLUHFW HVW LPSRVVLEOH 0DJQpWRVFRSH HQUHJ SURJ SUpUpJOp
0DJQpWRVFRSH HQU VRQ SURSUH WXQHU
/H PDJQ WRVFRSH HQUHJLVWUH OH VLJQDO GH
SURJUDPPH GH VRQ SURSUH WXQHU 9RXV SRXYH]
WHLQGUH OH W O YLVHXU HW ODLVVHU OH PDJQ WRVFRSH
HQUHJLVWUHU GH OD ID˜RQ QRUPDOH
6RXUFH 79 HQ FRXUV G·HQUHJLVWUHPHQW
/H PDJQ WRVFRSH HVW HQ WUDLQ G
HQUHJLVWUHU O
PLVVLRQ UHWUDQVPLVH SDU
OH W O YLVHXU 9RXV QH GHYH] SDV FKDQJHU OD SRVLWLRQ GH SURJUDPPH
RX WHLQGUH OH W O YLVHXU VL YRXV OH IDLWHV OH PDJQ WRVFRSH V
DUUûWHUD
DXWRPDWLTXHPHQW G
HQUHJLVWUHU HW V
WHLQGUD
3DV G·HQUHJ &$66(77( 3527(*((
/D ODQJXHWWH GH SURWHFWLRQ O
DUULýUH GH OD FDVVHWWH
YLG R D W HQOHY H
([HPSOHV G
DXWUHV PHVVDJHV SRXYDQW ûWUH DIILFK V 3DV G·HQUHJ &$66(77( 121 ,16(5((
3DV G·HQUHJ (15(* '(-$ (1 &2856
3DV G·HQUHJ /(&785( (1 &2856
3DV G·HQUHJ %$1'( (1'200$*((
(QUHJLVWUHPHQW 9&5 9&5 H[W
3DV G·HQUHJ $%6(1&( '( 6,*1$/
3RXU O
FKDQJH GHV SDUDPýWUHV GH U JODJH
3RXU DVVXUHU GHV HQUHJLVWUHPHQWV YLG R FRUUHFWV OH W O YLVHXU HW OH PDJQ WRVFRSH GRLYHQW SRXYRLU FKDQJHU GHV LQIRUPDWLRQV VXU OHV
SDUDPýWUHV GH U JODJH SDJH - &KDTXHIRLVTXHODIRQFWLRQ &RQILJXUDWLRQ DXWRPDWLTXH$73HVWXWLOLV H OHVSDUDPýWUHVGHU JODJHVRQWWUDQVPLVDXPDJQ WRVFRSH
)RQFWLRQV 0LVH HQ PDUFKH HW $UUûW DXWRPDWLTXHV GX W O YLVHXU
&HV IRQFWLRQV VXSSO PHQWDLUHV VRQW GLVSRQLEOHV DYHF OD OLDLVRQ 4/LQN GH 3DQDVRQLF
- 4XDQG YRXVLQWURGXLVH] XQHFDVVHWWH YLG R GDQV YRWUHPDJQ WRVFRSH HWTXH YRXVDSSX\H] VXUOH ERXWRQ 0DUFKH GXPDJQ WRVFRSH
OH W O YLVHXU VH PHW DXWRPDWLTXHPHQW HQ PDUFKH HW V OHFWLRQQH O
HQWU H $9 SRXU YRXV SHUPHWWUH GH YLVLRQQHU OD YLG R
- 6L YRXV WHLJQH] OH W O YLVHXU DORUV TXH OH PDJQ WRVFRSH HVW HQ PRGH $UUûW $YDQFH UDSLGH RX 5HPERELQDJH OH PDJQ WRVFRSH
V
DUUûWHUD DXWRPDWLTXHPHQW
3RXU G VDFWLYHU OD OLDLVRQ 4/LQN
6L YRXV QH VRXKDLWH] SDV XWLOLVHU OD OLDLVRQ 4/LQN DOOH] DX PHQX &RQILJXUDWLRQ V OHFWLRQQH] O
RSWLRQ 4/LQN HW V OHFWLRQQH] O
WDW
€ ' VDFWLY  2II SDJH 1RWH LPSRUWDQWH 7RXV OHV PDJQ WRVFRSHV Q
DFFHSWHQW SDV FH V\VWýPH GH FRPPXQLFDWLRQV GH GRQQ HV &HUWDLQV PDJQ WRVFRSHV SHXYHQW DFFHSWHU
FHUWDLQHV IRQFWLRQV PDLV SDV G
DXWUHV &RQVXOWH] OH PRGH G
HPSORL GH YRWUH PDJQ WRVFRSH SRXU YRXV LQIRUPHU
6L OD OLDLVRQ 4/LQN HVW LQRS UDQWH FRPPHQFH] SDU FRQILUPHU TXH OH F EOH 3(5,7(/ XWLOLV HVW ELHQ GX W\SH FRXYUDQW WRXWHV OHV IRQFWLRQV
&RQVXOWH] YRWUH UHYHQGHXU SRXU YRXV LQIRUPHU
6þ/(&7,21 (7 &21),*85$7,21 $9
/H PHQX 6 OHFWLRQ $9 YRXV SHUPHW GH V OHFWLRQQHU OD VRXUFH $9 GH YRWUH FKRL[
$SSX\H] VXU OD WRXFKH 79$9
79$9
$9
$SSX\H] VXU OD WRXFKH GH FRXOHXU
DSSURSUL H GH OD W O FRPPDQGH
SHQGDQW TXH OHV RSWLRQV VRQW
DIILFK HV VXU O
FUDQ
/HV RSWLRQV GLVSDUDLVVHQW
9RXV SRXYH] HIIHFWXHU GHV U JODJHV
GDQV OHV PHQXV &RQILJXUDWLRQ RX
6RQ
$9
$96
$96
0HQX &RQILJXUDWLRQ
&21),*85$7,21
2XYUH] OH PHQX &RQILJXUDWLRQ
&KRLVLU
0RGLILFDWLRQ
6 OHFWLRQQH] O
RSWLRQ GH YRWUH FKRL[
79$9 79$96RUWLU
&RQILJXUDWLRQ
$FF GH] DX[ U JODJHV RX DX[
RSWLRQV
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU
79$9
7pOpWH[WH
0LQXWHULH YHLOOH
5HG6FLQW
6\VWqPH FRXOHXU
5pJODJH YROXPH
4 /LQN
/DQJXHV 26'
)/2)
1RQ
2XL
$872
2XL
0HQX 6RQ
621
2XYUH] OH PHQX 6RQ
&KRLVLU
5pJOHU
6 OHFWLRQQH] O
RSWLRQ GH YRWUH FKRL[
79$9
6RQ
$FF GH] DX[ U JODJHV RX DX[
RSWLRQV
$SSX\H] VXU OD WRXFKH 79$9 SRXU
VRUWLU
79$9
9ROXPH
*UDYH
$LJX
%DODQFH
0RGH
$PELDQFH
0XVLTXH
1RQ
6RUWLU
)21&7,21 0$*1þ726&23(/(&7(85 '( 9,'þ2',648(6 '9'
&HWWHW O FRPPDQGHSHXWûWUHXWLOLV HDYHFFHUWDLQVPDJQ WRVFRSHVHWOHFWHXUVGHYLG RGLVTXHVDXIRUPDW'9''LJLWDO9HUVDWLOH'LVFGH
OD PDUTXH 3DQDVRQLF þWDQW GRQQ TXH FHUWDLQV PDJQ WRVFRSHV HW OHFWHXUV GH YLG RGLVTXHV RIIUHQW GHV IRQFWLRQV GLII UHQWHV YHXLOOH]
YRXV U I UHU DX PRGH G
HPSORL GH O
DSSDUHLO RX FRQVXOWHU OH UHYHQGHXU SRXU YRXV LQIRUPHU
'9'
9&5
þWDW GH YHLOOH
$SSX\H] VXU FHWWH WRXFKH SRXU PHWWUH OH
PDJQ WRVFRSHOHFWHXU GH YLG RGLVTXHV O
WDW GH
YHLOOH
$SSX\H] QRXYHDX SRXU O
DOOXPHU
7RXFKH PDJQ WRVFRSHOHFWHXU GH YLG RGLVTXHV '9'
8WLOLVH] FHWWH WRXFKH SRXU TXH OD W O FRPPDQGH
FRPPDQGH OH PDJQ WRVFRSH RX OH OHFWHXU GH
YLG RGLVTXHV
/HFWXUH
$SSX\H] VXU FHWWH WRXFKH SRXU OLUH OD FDVVHWWHOH
GLVTXH YLG R
$UUûW
$SSX\H] VXU FHWWH WRXFKH SRXU DUUûWHU OD FDVVHWWHOH
GLVTXH YLG R
6DXW GH SODJH$YDQFH UDSLGH9LVXDOLVDWLRQ
0$*1þ726&23( $SSX\H] VXU FHWWH WRXFKH SRXU
FRPPDQGHU O
DYDQFH UDSLGH (Q PRGH /HFWXUH
DSSX\H] VXU FHWWH WRXFKH SRXU YLVXDOLVHU O
LPDJH HQ
PRGH G
DYDQFH UDSLGH
/(&7(85 '9' $SSX\H] XQH IRLV VXU FHWWH WRXFKH
SRXU VDXWHU OD SODJH VXLYDQWH (Q PRGH /HFWXUH
DSSX\H] GH ID˜RQ FRQWLQXH VXU FHWWH WRXFKH SRXU
YLVXDOLVHU O
LPDJH HQ PRGH G
DYDQFH UDSLGH
6DXW GH SODJH5HPERELQDJH UDSLGH9LVXDOLVDWLRQ
0$*1þ726&23( $SSX\H] VXU FHWWH WRXFKH SRXU
UHPERELQHU OD EDQGH (Q PRGH /HFWXUH DSSX\H] VXU
FHWWH WRXFKH SRXU YLVXDOLVHU OD EDQGH HQ PRGH GH
UHPERELQDJH UDSLGH
/(&7(85 '9' $SSX\H] XQH IRLV VXU FHWWH WRXFKH
SRXU VDXWHU OD SODJH SU F GHQWH (Q PRGH /HFWXUH
DSSX\H] GH ID˜RQ FRQWLQXH VXU FHWWH WRXFKH SRXU
YLVXDOLVHU O
LPDJH HQ PRGH UHFXO UDSLGH
$UUûW VXU LPDJH
$SSX\H] VXU FHWWH WRXFKH HQ PRGH /HFWXUH SRXU REWHQLU
O
DUUûW VXU LPDJH
$SSX\H] GH QRXYHDX SRXU UHSUHQGUH OD OHFWXUH QRUPDOH
' ILOHPHQW
$SSX\H] SRXU DXJPHQWHUGLPLQXHU G
XQH XQLW OD
SRVLWLRQ GH SURJUDPPH GX PDJQ WRVFRSH
5(&
(QUHJLVWUHPHQW
$SSX\H] VXU FHWWH WRXFKH SRXU HQUHJLVWUHU
)21&7,21 7þ/þ7(;7(
- /HV IRQFWLRQV GH 7 O WH[WH YDULHQW VHORQ OHV VRFL W V GH UDGLRGLIIXVLRQ HW QH VRQW GLVSRQLEOHV TXH VL OD FKDñQH V OHFWLRQQ H WUDQVPHW OH
7 O WH[WH
- (Q DSSX\DQW VXU OD WRXFKH ,PDJH HQ PRGH 7 O WH[WH OD IRQFWLRQ GH FRQWUDVWH DIILFKH XQH EDUUH GH FRXOHXU F\DQ DSSX\H] VXU
* SRXU PRGLILHU OH U JODJH VHORQ OHV EHVRLQV
(Q DSSX\DQW VXU OD WRXFKH &RQILJXUDWLRQ HQ PRGH 7 O WH[WH OHV RSWLRQV GH IRQFWLRQV VS FLDOHV VRQW DIILFK HV HQ EDV GH O
FUDQ
- (Q PRGH 7 O WH[WH OH YROXPH SHXW WRXMRXUV ûWUH PRGLIL SRXU V
DGDSWHU DX QLYHDX GH U FHSWLRQ G VLU (Q TXRL FRQVLVWH OH PRGH /,67 /,67( "
(Q PRGH/,67 TXDWUHQXP URVGHSDJHGHFRXOHXUVGLII UHQWHVDSSDUDLVVHQWHQ EDVGHO
FUDQ&KDFXQ GHFHVQXP URVSHXWûWUHFKDQJ
HW HQUHJLVWU GDQV OD P PRLUH GX W O YLVHXU
(Q TXRL FRQVLVWH OH PRGH )$67(;7 7(;7( 5$3,'( "
(Q PRGH )$67(;7 TXDWUH VXMHWV GH FRXOHXUV GLII UHQWHV DSSDUDLVVHQW HQ EDV GH O
LPDJH 3RXU REWHQLU SOXV G
LQIRUPDWLRQ VXU O
XQ GH FHV
VXMHWVDSSX\H]VXUOHERXWRQFRORU FRUUHVSRQGDQW&HWWHIRQFWLRQSHUPHWG
REWHQLUUDSLGHPHQWGHVLQIRUPDWLRQVVXUOHVVXMHWVLQGLTX V
(Q TXRL FRQVLVWH OH PRGH 723 7 O WH[WH "
/D IRQFWLRQ 7RS 7 O WH[WH UHQG OD V OHFWLRQ GHV SDJHV GH 7 O WH[WH YRXOXHV SOXV IDFLOH HW SOXV UDSLGH (Q IDLW O
DFFýV DX[ SDJHV HVW
LQVWDQWDQ DSSX\H] VXU OH ERXWRQ HW OD SDJH DSSDUDñW
&RPPHQW IRQFWLRQQH FHWWH RSWLRQ "
/
RSWLRQ 723 7 O WH[WH XWLOLVH TXDWUH WRXFKHV FRORU HV URXJH YHUWH MDXQH HW EOHXH SRXU V OHFWLRQQHU OHV LQIRUPDWLRQV VXLYDQWHV
- 3RXU YRXV G SODFHU G
XQH FDW JRULH GH VSHFWDFOH XQH DXWUH 63257 SDU H[HPSOH XWLOLVH] OD WRXFKH EOHXH 8QH IRLV O
LQW ULHXU GH OD
FDW JRULH 63257 YRXV SRXYH] V OHFWLRQQHU GHV DFWLYLW V GLII UHQWHV WHOOHV TXH OH WHQQLV OH IRRWEDOO OH EDVNHWEDOO HWF HQ XWLOLVDQW OD
WRXFKH MDXQH 4XDQG OD GHUQLýUH DFWLYLW GH OD FDW JRULH HVW DWWHLQWH OD WRXFKH MDXQH YRXV IDLW SDVVHU OD FDW JRULH GH VSHFWDFOH
VXLYDQWH
- /D WRXFKH YHUWH V OHFWLRQQHUD OD SDJH VXLYDQWH YHUV OH +$87
- /D WRXFKH URXJH V OHFWLRQQHUD OD SDJH VXLYDQWH YHUV OH %$6
4XHOV VRQW OHV DYDQWDJHV "
-
6 OHFWLRQ GH OD SDJH DX VLPSOH WRXFKHU G
XQ ERXWRQ
6 OHFWLRQ IDFLOH WDSH SDU WDSH GDQV OHV FDW JRULHV G
DFWLYLW V YRXOXHV
5 GXFWLRQ GX WHPSV G
DWWHQWH
6L YRXV HQWUH] XQ QXP UR GH SDJH QRQ H[LVWDQW XQ SRLQW G
LQWHUURJDWLRQ DSSDUDñW HQ EDV GH O
FUDQ
/D OLJQH G
WDW HQ EDV GH O
FUDQ YRXV LQGLTXH WRXMRXUV TXHO ERXWRQ YRXV FRQGXLUD O
LQIRUPDWLRQ VRXKDLW H
0RGH 797 O WH[WH
797(;7
$SSX\H] VXU OD WRXFKH 797(;7
/D SDJH 7 O WH[WH V
DIILFKH O
FUDQ
$SSX\H] QRXYHDX VXU FHWWH WRXFKH SRXU UHYHQLU HQ PRGH 79
6 OHFWLRQ GHV SDJHV
/HV SDJHV SHXYHQW ûWUH V OHFWLRQQ HV GH GHX[ PDQLýUHV D $SSX\H] VXU OHV WRXFKHV GH G ILOHPHQW SRXU DFFURñWUH RX G FURñWUH OH QXP UR GH
OD IRLV
SDJH G
XQH XQLW
E (Q HQWUDQW OH QXP UR GH SDJH O
DLGH GHV WRXFKHV GH OD W O FRPPDQGH
&21),*85$7,21
)XOO 7RS %RWWRP 3OHLQ +DXW %DV
$SSX\H] VXU OD WRXFKH &21),*85$7,21 SRXU DIILFKHU OHV IRQFWLRQV VS FLDOHV SXLV VXU OD
WRXFKH YHUWH
$SSX\H] XQH QRXYHOOH IRLV VXU OD WRXFKH YHUWH SRXU DJUDQGLU OD SDUWLH ,1)(5,(85( GH O
FUDQ
$SSX\H] XQH QRXYHOOH IRLV SRXU UHYHQLU O
DIILFKDJH QRUPDO SOHLQ FUDQ )8//
&21),*85$7,21
5HYHDO 5 Y OHU
$SSX\H] VXU OD WRXFKH &21),*85$7,21 SRXU DIILFKHU OHV IRQFWLRQV VS FLDOHV SXLV VXU
OD WRXFKH URXJH SRXU U Y OHU OHV PRWV FDFK V SDU H[HPSOH OHV U SRQVHV DX[ SDJHV GH
MHX[ $SSX\H] GH QRXYHDX SRXU FDFKHU OHV U SRQVHV
7RXFKHV URXJH YHUWH MDXQH EOHX
(Q PRGH 723 RX )$67(;7 FHV GHUQLýUHV FRUUHVSRQGHQW DX[ GLII UHQWV VXMHWV GH FRXOHXU
(Q PRGH /,67 /,67( HOOHV FRUUHVSRQGHQW DX[ GLII UHQWV QXP URV GH SDJHV FRORU HV
/LVW 6WRUH 0 PRLUH GH OLVWH
675
(Q PRGH /,67 OHV TXDWUH QXP URV GH SDJH SHXYHQW ûWUH FKDQJ V SRXU OHV SRVLWLRQV GH
FKDñQHV VHXOHPHQW 3RXU FH IDLUH DSSX\H] VXU O
XQH GHV WRXFKHV GH FRXOHXU HW HQWUH]
OH QRXYHDX QXP UR GH SDJH
3UHVVH] HW PDLQWHQH] HQIRQF H OD WRXFKH 675 MXVTX
FH TXH OHV QXP URV GH SDJH
FKDQJHQW GH FRXOHXU
)21&7,21 7þ/þ7(;7(
,O Q
HVW SDV SRVVLEOH GH FKDQJHU OD SRVLWLRQ GX SURJUDPPH HQ PRGH )ODVK G
LQIRUPDWLRQV 0LVH
+2/'
MRXU RX $FFýV DX[ VRXVSDJHV
0DLQWLHQ GH OD SDJH
$SSX\H] VXU OD WRXFKH +2/' SRXU UHWHQLU OD SDJH 7 O WH[WH ORUV GH OD FRQVXOWDWLRQ
G
LQIRUPDWLRQV FRXUDQW VXU SOXVLHXUV SDJHV $SSX\H] GH QRXYHDX SRXU UHYHQLU OD PLVH
DXWRPDWLTXH
MRXU
3DJH SU I U H )3
)3
&HWWH IRQFWLRQ SHUPHW GH P PRULVHU XQH SDJH HW GH OD UDSSHOHU LQVWDQWDQ PHQW 3RXU PHWWUH OD
SDJH HQ P PRLUH OH W O YLVHXU GRLW ûWUH HQ PRGH /LVWH HW OD SRVLWLRQ GH SURJUDPPH GRLW ûWUH
HQWUH HW $SSX\H] VXU OD WRXFKH EOHXH SRXU V OHFWLRQQHU OH QXP UR GH SDJH SXLV DSSX\H]
VXU OD WRXFKH 675 HW WHQH] OD HQIRQF H /H QXP UR GH SDJH HVW DORUV P PRULV $SSX\H] VXU OD
WRXFKH )3 SRXU UDSSHOHU FHWWH SDJH
8SGDWH 'LVSOD\ 0LVH
MRXU
$SSX\H] VXU OD WRXFKH &21),*85$7,21 SRXU DIILFKHU OHV IRQFWLRQV VS FLDOHV SXLV VXU OD
WRXFKH MDXQH SRXU YRLU O
LPDJH W O YLV H WRXW HQ FKHUFKDQW XQH SDJH 7 O WH[WH
/RUVTXH OD SDJH HVW WURXY H O
FUDQ DIILFKHUD OH QXP UR GH OD SDJH HQ KDXW JDXFKH
$SSX\H] VXU OD WRXFKH MDXQH SRXU YRLU OD SDJH
$SSX\H] VXU 797(;7 SRXU UHYHQLU HQ PRGH 79 QRUPDO
&21),*85$7,21
1HZV )ODVK )ODVK G
LQIRUPDWLRQV
/RUVTX
XQH SDJH GH IODVK G
LQIRUPDWLRQV D W V OHFWLRQQ H DSSX\H] VXU OD WRXFKH
&21),*85$7,21 HW VXU OD WRXFKH MDXQH SRXU UHJDUGHU OD W O YLVLRQ QRUPDOHPHQW /RUVTXH OD
PLVH MRXU G
XQ IODVK G
LQIRUPDWLRQV VHUD FDSW H OH QXP UR GH SDJH VHUD DIILFK VXU O
FUDQ
$SSX\H] DORUV VXU OD WRXFKH MDXQH SRXU DIILFKHU OH IODVK G
LQIRUPDWLRQV
$SSX\H] VXU 797(;7 SRXU UHYHQLU HQ PRGH 79 QRUPDO
8SGDWH 0LVH MRXU
$SSX\H] VXU OD WRXFKH &21),*85$7,21 HW VXU OD WRXFKH MDXQH SRXU YLVXDOLVHU OD PLVH MRXU
G
LQIRUPDWLRQV VXU FHUWDLQHV SDJHV /RUVTX
XQH PLVH MRXU HVW FDSW H OH QXP UR GH SDJH HVW
DIILFK HQ KDXW GH O
FUDQ JDXFKH
$SSX\H] VXU OD WRXFKH MDXQH SRXU YLVXDOLVHU OD SDJH
$SSX\H] VXU 797(;7 SRXU UHYHQLU HQ PRGH 79 QRUPDO
$FFýV DX[ VRXVSDJHV FRG HV
&21),*85$7,21
/RUVTXH OHV LQIRUPDWLRQV 7 O WH[WH RFFXSHQW SOXV G
XQH SDJH OH V\VWýPH GH FKDQJHPHQW
DXWRPDWLTXH GHV VRXVSDJHV SRXUUD PHWWUH XQ FHUWDLQ WHPSV DYDQW G
DWWHLQGUH OD VRXVSDJH
YRXOXH ,O HVW SRVVLEOH G
HQWUHU OH QXP UR GH VRXVSDJH VRXKDLW HW GH FRQWLQXHU VXLYUH OH
SURJUDPPH QRUPDO MXVTX
FH TXH OD VRXVSDJH FRUUHFWH DLW W WURXY H
6 OHFWLRQQH] OH QXP UR GH SDJH YRXOX O
DLGH GHV WRXFKHV $SSX\H] VXU OD WRXFKH &21),*85$7,21 SXLV VXU OD WRXFKH EOHX 7 V
DIILFKHUD HQ KDXW
GURLWH GH O
FUDQ
(QWUH] OH QXP UR GH VRXVSDJH G VLU DYDQW TXH OH 7 QH GLVSDUDLVVH
3RXU V OHFWLRQQHU OD SDJH HQWUH] HW 6L YRXV ûWHV HQ PRGH /,67 XQ € 7  DSSDUDñWUD GDQV OD IHQûWUH GX EDV
$SSX\H] VXU OD WRXFKH MDXQH SRXU UHJDUGHU XQH PLVVLRQ GH W O YLVLRQ QRUPDOH
$SSX\H] VXU &21),*85$7,21 HW VXU OD WRXFKH MDXQH HQ PRGH /,67
/RUVTXH OD SDJH HVW GLVSRQLEOH DSSX\H] VXU OD WRXFKH MDXQH SRXU YRLU OD SDJH
3RXU HIIDFHU OD SDJH XWLOLVH] O
XQ GHV PR\HQV VXLYDQWV - $SSX\H] VXU &21),*85$7,21
- 6 OHFWLRQQH] XQ QRXYHDX QXP UR GH SDJH
- $SSX\H] VXU 797(;7 SRXU UHYHQLU HQ PRGH 79 QRUPDO
,1'(;
,QGH[
$SSX\H] VXU ,1'(; SRXU UHYHQLU VXU OD SDJH G
LQGH[ SULQFLSDO
6HORQ OD ID˜RQ GRQW OHVLQIRUPDWLRQVVRQW WUDQVPLVHV YRXVGHYUH] SHXWûWUH SUHVVHUSOXVG
XQHIRLV
FHWWH WRXFKH SRXU UHYHQLU O
LQGH[ SULQFLSDO
&211(;,216 $8',2 9,'þ2
3ULVHV DYDQW $9 EURFKHV 6 9LG R 5&$ $XGLR9LG R HW SULVHV FDVTXH
3UHVVH] HW UHO FKH] SRXU RXYULU
6RUWLH SULVH
FDVTXH
(QWU H YLG R
SULVH 69LGHR
6 9
6 9
(QWU H YLG R
SULVH 9
(QWU H DXGLR
SULVHV *'
)LFKH MDFN VW U R PP
F EOHV
DXGLR
5&$
& EOH
YLG R
5&$
0DJQ WRVFRSH
&$648( 67þ5þ2
DYHF ILFKH MDFN PP
1RWH /HV TXLSHPHQWV DX[LOLDLUHV HW OHV F EOHV UHSU VHQW V QH VRQW SDV IRXUQLV DYHF OH W O YLVHXU
1 %URFKDJH GHV SULVHV 3(5,7(/
3ULVH 3(5,7(/ EURFKHV $9
&RQQHFWHXU GH PDVVH 6RUWLH &9%6 YLG R
0DVVH &9%6
(QWU H URXJH
0DVVH URXJH
(QWU H YHUWH
0DVVH YHUWH
(QWU H EOHXH
0DVVH EOHXH
6RUWLH DXGLR *
6RUWLH DXGLR '
3ULVH 3(5,7(/ EURFKHV $9
(QWU H &9%6 YLG R
0DVVH
(WDW 59%
0DVVH
WDW 59%
(WDW &9%6 YLG R
(QWU H DXGLR *
0DVVH DXGLR
(QWU H DXGLR '
/HV HQWU HV DG TXDWHV SRXU $9 LQFOXHQW
59% URXJHYHUWEOHX
&RQQHFWHXU GH PDVVH 6RUWLH &9%6 YLG R
0DVVH &9%6
(QWU H 6&
0DVVH
0DVVH
6RUWLH DXGLR *
6RUWLH DXGLR '
(QWU H &9%6 YLG R
0DVVH
/LDLVRQ 4/LQN
(WDW YLG R &9%6
(QWU H DXGLR *
0DVVH DXGLR
(QWU H DXGLR '
/HV EURFKHV $9 HW G SHQGHQW GH OD
FRPPXWDWLRQ 69+6 9,'þ2 $9
3ULVHV EURFKHV 6 9LGHR
(QWU H FKURPLQDQFH
0DVVH FKURPLQDQFH
(QWU H OXPLQDQFH
0DVVH OXPLQDQFH
&211(;,216 $8',2 9,'þ2
9LD OHV SULVHV DUULýUH 3(5,7(/ EURFKHV $9$96
HW OD SULVH GH VRUWLH DXGLR 5&$
+,), 6<67(0
6RUWLH GHV SULVHV
6257,( $8',2
*'
[ F EOHV DXGLR
5&$
(QWU HVRUWLH GH OD SULVH
3(5,7(/ $9 GH OD
OLDLVRQ 4/LQN
(QWU HVRUWLH GH OD SULVH
3(5,7(/ $9
& EOH 3(5,7(/
& EOH 3(5,7(/
0DJQ WRVFRSH
0DJQ WRVFRSH 69LG R
0DJQ WRVFRSH
0DJQ WRVFRSH FRPSDWLEOH OLDLVRQ 4/,1.
5 FHSWHXU VDWHOOLWH
&DP VFRSH 69LG R
&DP VFRSH
&RQVROH GH MHXRUGLQDWHXU 59%
1RWHV /
TXLSHPHQW DX[LOLDLUH HW OHV F EOHV UHSU VHQW V QH VRQW SDV IRXUQLV DYHF FH
W O YLVHXU
1H EUDQFKH] SDV G
RUGLQDWHXU PXQL G
XQH VRUWLH 77/ 9 VXU FH W O YLVHXU
',$*1267,& '(6 3$11(6
6\PSWÎPHV
,PDJH
6RQ
9 ULILHU
/D SRVLWLRQ O
RULHQWDWLRQ RX OH UDFFRUGHPHQW GH
O
DQWHQQH
,PDJH QHLJHXVH
6RQ GLVFRUGDQW
/D SRVLWLRQ O
RULHQWDWLRQ RX OH UDFFRUGHPHQW GH
O
DQWHQQH
,PDJH G PXOWLSOL H
6RQ QRUPDO
/D SUR[LPLW G
DSSDUHLOV OHFWURP QDJHUV
GH YRLWXUHVPRWRF\FOHWWHV
G
FODLUDJHV IOXRUHVFHQWV
3DUDVLWHV
6RQ GLVFRUGDQW
6 OHFWLRQQH] OD IRQFWLRQ 315 GDQV OH PHQX ,PDJH
SRXU U GXLUH OD GLVWRUVLRQ GH O
LPDJH
/H U JODJH GH YROXPH
6L OD FRXSXUH GH VRQ HVW DFWLY H
,PDJH QRUPDOH
3DV G
LPDJH
3DV GH VRQ
3DV GH VRQ
6L OH W O YLVHXU HVW HQ PRGH $9
6L OD SULVH VHFWHXU HVW ELHQ EUDQFK H
6L OH W O YLVHXU HVW DOOXP
6L OHV QLYHDX[ GH VRQ HW G
LPDJH VRQW U JO V DX
PLQLPXP
6L OH W O YLVHXU HVW O
WDW GH YHLOOH
6L OH U JODJH GHV FRXOHXUV HVW DX PLQLPXP
3DV GH FRXOHXU
6RQ QRUPDO
5 DFFRUGHU OHV FDQDO FDQDX[
0DXYDLVH LPDJH RX GLVWRUVLRQ
7DFKHV GH FRXOHXU
6RQ IDLEOH RX SDV GH VRQ
6RQ QRUPDO
6
LO \ D XQH LQWHUI UHQFH PDJQ WLTXH G
XQ
TXLSHPHQW QRQ EOLQG
6L OH W O YLVHXU D W G SODF DORUV TX
LO WDLW DOOXP 'DQV FH FDV O
WHLQGUH SHQGDQW DX PRLQV PLQXWHV
6L O
LPDJH HVW O JýUHPHQW LQFOLQ H XWLOLVH] OD IRQFWLRQ
GH FRUUHFWLRQ J RPDJQ WLTXH YRLU *XLGH GH PLVH
HQ URXWH UDSLGH SDJH /D U FHSWLRQ GX VRQ SHXW V
ûWUH G JUDG H
0HWWUH OH U JODJH 03; PHQX 6RQ VXU 0RQR
MXVTX
FH TXH OD U FHSWLRQ V
DP OLRUH
,PDJH QRUPDOH
6RQ IDLEOH RX GLVFRUGDQW
,1)250$7,216 *(1(5$/(6
1 ' SDQQDJH
1 0LVH HQ P PRLUH GHV GHUQLýUHV V OHFWLRQV
$YDQW GH IDLUH DSSHO DX U SDUDWHXU G WHUPLQH] OHV V\PSWÎPHVGH
OD SDQQH O
DLGH GX JXLGH GH GLDJQRVWLF GH OD SDJH SU F GHQWH
YRWUH UHYHQGHXU
3RXU WRXW G SDQQDJH DGUHVVH]YRXV
3DQDVRQLF HQ LQGLTXDQW OH QXP UR GX PRGýOH HW OH QXP UR GH
V ULH ILJXUDQW O
DUULýUH GX W O YLVHXU
&HUWDLQHVIRQFWLRQVGLVSRVHQWG
XQHP PRULVDWLRQGHVGHUQLýUHV
V OHFWLRQV RS U HV FH TXL VLJQLILH TXH OHV U JODJHV DFWLIV DX
PRPHQW RÖ OH W O YLVHXU HVW WHLQW VHURQW U WDEOLV TXDQG OH
W O YLVHXU VHUD UDOOXP 3URJUDPPH
7HLQWH
/DQJXH 26'
0176& 176& VHXOHPHQW
3RVLWLRQ $9
&RQWUDVWH
9ROXPH
1HWWHW
03;
$VSHFW
*UDYHV
9HLOOH
$LJXùV
,QWHOOLJHQFH DUWLILFLHOOH $, ,PDJH
%DODQFH
&RXOHXU
%DODQFH FRXOHXU
/XPLQRVLW
(WDW
$PELDQFH
315
0RGH 7 O WH[WH
/LDLVRQ 4/LQN
5 JODJH YROXPH
' FRGHXU $9
&RUUHFWLRQ J RPDJQ WLTXH
5HG6FLQW
1 &RQVROHV GH MHX[ 2UGLQDWHXUV SHUVRQQHOV
/
XWLOLVDWLRQSURORQJ HGHMHX[YLG RRXG
RUGLQDWHXUVSHUVRQQHOV
SHXW SURYRTXHU XQ PDUTXDJH SHUPDQHQW GH O
FUDQ G
XQ
W O YLVHXU &HWWH G W ULRUDWLRQ SHUPDQHQWH GX WXEH FDWKRGLTXH
SHXW ûWUH OLPLW H HQ UHVSHFWDQW OHV FRQVLJQHV VXLYDQWHV - 5 GXLVH] OHV U JODJHV GH OXPLQRVLW HW GH FRQWUDVWH DX
PLQLPXP
- 1H ODLVVH] SDV YRWUH W O YLVHXU DOOXP GH PDQLýUH
FRQWLQXH ORUVTXH YRXV O
XWLOLVH] DYHF XQH FRQVROH GH MHX
YLG R RX XQ RUGLQDWHXU SHUVRQQHO
- &HWWH G W ULRUDWLRQ GX WXEH FDWKRGLTXH Q
HVW SDV GXH XQ
G IDXW GH IRQFWLRQQHPHQW HW HOOH QH WRPEH GRQF SDV VRXV
OD JDUDQWLH 3DQDVRQLF
1 0LVH HQ YHLOOH DXWRPDWLTXH
6L OH W O YLVHXU Q
HVW SDV WHLQW ORUVTXH OD FKDñQH GH W O YLVLRQ
FHVVH G
PHWWUH OH PRGH GH YHLOOH V
HQFOHQFKHUD
DXWRPDWLTXHPHQW DSUýV PLQXWHV &HWWH IRQFWLRQ Q
HVW SDV
GLVSRQLEOH ORUVTXH OH W O YLVHXU HVW HQ PRGH $9
&$5$&7þ5,67,48(6
7;$6'%
$OLPHQWDWLRQ OHFWULTXH
9 +] &$
&RQVRPPDWLRQ
:
&RQVRPPDWLRQ HQ DWWHQWH
:
7XEH LPDJH
'LDJRQDOH YLVLEOH
6RUWLH DXGLR
PXVLTXH
'LPHQVLRQV
3RLGV
6\VWýPHV GH U FHSWLRQQRP GH EDQGH
FP
[ : 506 [ : 032 LPS GDQFH W
+
/
3
PP
PP
PP
NJ
3$/ %* + 3$/ , 6(&$0 %* 6(&$0 //
9+) ( (
9+) + + ,7$/,(
9+) $ + ,7$/,(
8+) ( (
&$79 6 6
&$79 6 6 0 0
&$79 6 6 8 8
&$79 6 6 +\SHUEDQG
3$/ '.
'. 6(&$0 '.
9+) 5 5
9+) 5 5
9+) 5 5
8+) ( (
3$/ /HFWXUH GHV FDVVHWWHV 176& SDUWLU GH PDJQ WRVFRSHV 3$/
0176& HQWU H $9 XQLTXHPHQW /HFWXUH GH PDJQ WRVFRSHV 0+]
176& HQWU H $9 XQLTXHPHQW /HFWXUH GH PDJQ WRVFRSHV 176&
3RVLWLRQV GH SURJUDPPH
9&5
$QWHQQH DUULýUH
8+) 9+)
&DVTXH DYDQW
PP LPS GDQFH W
$9 DUULýUH
$9 SULVH EURFKHV HQWU HVRUWLH DXGLRYLG R HQWU H 59%
$9 SULVH EURFKHV HQWU HVRUWLH DXGLRYLG R HQWU H 69LG R OLDLVRQ 4/LQN
[ VRUWLHV DXGLR 5&$
$9 DYDQW
$9 HQWU H 69LG R [ HQWU HV DXGLR 5&$ [ HQWU H YLG R 5&$
&HV FDUDFW ULVWLTXHV SHXYHQW ûWUH PRGLIL HV VDQV SU DYLV /HV GLPHQVLRQV HW SRLGV LQGLTX V VRQW DSSUR[LPDWLIV
&;