/HV REMHWV FRQWDPLQpV SDU GH O
HVVHQFH GH OD SHLQWXUH GHV UHVWHV G
DFLHU RX GH IHU GHV SURGXLWV FKLPLTXHV
FRUURVLIV DFLGHV RX DOFDOLQV QH GRLYHQW SDV rWUH ODYpV HQ PDFKLQH
$9(57,66(0(17 /
DSSDUHLO HW OHV SDUWLHV DFFHVVLEOHV GHYLHQQHQW FKDXGV SHQGDQW O
XWLOLVDWLRQ 'HV
SUpFDXWLRQV GRLYHQW rWUH SULVHV SRXU pYLWHU GH WRXFKHU OHV pOpPHQWV FKDXIIDQWV
/H QHWWR\DJH HW O
HQWUHWLHQ SDU O
XWLOLVDWHXU QH GRLW SDV rWUH IDLW SDU GHV HQIDQWV VDQV VXUYHLOODQFH
$77(17,21 /D FXLVVRQ VDQV VXUYHLOODQFH VXU XQH SODTXH GH FXLVVRQ DYHF GH OD JUDLVVH RX G
KXLOH SHXW
rWUH GDQJHUHXVH HW SHXW HQWUDvQHU XQ LQFHQGLH
1H MDPDLV WHQWHU G
pWHLQGUH XQ LQFHQGLH DYHF GH O
HDX PDLV pWHLQGUH O
DSSDUHLO SXLV FRXYULU OD IODPPH SDU
H[HPSOH DYHF XQ FRXYHUFOH RX XQH FRXYHUWXUH DQWLIHX
$9(57,66(0(17 'DQJHU G
LQFHQGLH QH SDV VWRFNHU GHV pOpPHQWV VXU OHV VXUIDFHV GH FXLVVRQ
$77(17,21 6L OD VXUIDFH HVW IrOpH pWHLQGUH O
DSSDUHLO SRXU pYLWHU OHV ULVTXHV GH FKRF pOHFWULTXH
(Q FRXUV G
XWLOLVDWLRQ O
DSSDUHLO GHYLHQW FKDXG 'HV SUpFDXWLRQV GRLYHQW rWUH SULVHV SRXU pYLWHU GH WRXFKHU
OHV pOpPHQWV FKDXGV j O
LQWpULHXU GX IRXU
$9(57,66(0(17 /HV SDUWLHV DFFHVVLEOHV SHXYHQW GHYHQLU FKDXGHV SHQGDQW O
XWLOLVDWLRQ /HV MHXQHV
HQIDQWV GRLYHQW rWUH WHQXV j O
pFDUW
1H SDV XWLOLVHU GH QHWWR\DQWV DEUDVLIV RX GH UDFORLUV PpWDOOLTXHV WUDQFKDQWV SRXU QHWWR\HU OD YLWUH GH OD
SRUWH GX IRXU FDU LOV SHXYHQW UD\HU OD VXUIDFH HQWUDLQDQW GHV ULVTXHV G
H[SORVLRQ
/H IRXU GRLW rWUH pWHLQW DYDQW G
HQOHYHU OD SURWHFWLRQ HW DSUqV OH QHWWR\DJH OD SURWHFWLRQ GRLW rWUH UHSODFp
HQ UHVSHFWDQW OHV LQVWUXFWLRQV
8WLOLVHU VHXOHPHQW OD VRQGH GH WHPSpUDWXUH UHFRPPDQGpH SRXU FH IRXU
1H SDV XWLOLVHU GH QHWWR\DQWV YDSHXU SRXU OH QHWWR\DJH
7RXW OLTXLGH GRLYHQW rWUH HQOHYp GX FRXYHUFOH DYDQW RXYHUWXUH
,O HVW UHFRPPDQGp GH ODLVVHU UHIURLGLU OD WDEOH GH FXLVVRQ DYDQW GH UHIHUPHU OH FRXYHUFOH
1H SDV UHJDUGHU IL[HPHQW OH IR\HU KDORJoQH SHQGDQW OD FXLVVRQ VL OD WDEOH HQ SRVVqGH XQ
$9(57,66(0(17 $VVXUH]YRXV TXH O
DSSDUHLO HVW pWHLQW DYDQW GH UHPSODFHU OD ODPSH DILQ G
pYLWHU OHV
ULVTXHV G
pOHFWURFXWLRQ
6L OH SURGXLW HVW SODFp VXU XQ VRFOH GHV PHVXUHV GRLYHQW rWUH SULVHV SRXU HYLWHU TXH OH SURGXLW JOLVVH GH
VRQ VRFOH
8Q V\VWqPH GH GpFRQQH[LRQ GRLW rWUH LQFRUSRUp GDQV OH FRPSWHXU FRQIRUPpPHQW DX[ UqJOHV GH FkEODJH
6L OH FRUGRQ G
DOLPHQWDWLRQ HVW HQGRPPDJp LO GRLW rWUH UHPSODFp SDU OH IDEULFDQW XQH VWDWLRQ GH GpSDQQDJH
DJUpHV RX XQH SHUVRQQH TXDOLILpH DILQ G
pYLWHU XQ GDQJHU
$77(17,21 3RXU pYLWHU WRXW GDQJHU G j XQH UpLQLWLDOLVDWLRQ DFFLGHQWHOOH FHW DSSDUHLO QH GRLW SDV rWUH
DOLPHQWp SDU XQ GLVSRVLWLI GH FRPPXWDWLRQ H[WHUQH FRPPH XQH PLQXWHULH RX FRQQHFWp j XQ FLUFXLW TXL HVW
UpJXOLqUHPHQW DOOXPp HW pWHLQW SDU O
XWLOLWDLUH
/HV QRXYHDX[ FkEOHV GH UDFFRUGHPHQW IRXUQLV DYHF O
DSSDUHLO GRLYHQW rWUH XWLOLVpHV HW O
DQFLHQ UDFFRUGHPHQW
QH GRLW SDV rWUH UpXWLOLVpV
&HW DSSDUHLO GRLW rWUH LQVWDOOp HQ FRQIRUPLWp DYHF OD UpJOHPHQWDWLRQ HQ YLJXHXU HW XWLOLVp XQLTXHPHQW GDQV
XQ HVSDFH YHQWLOp /LVH] OHV LQVWUXFWLRQV DYDQW G
LQVWDOOHU RX XWLOLVHU FHW DSSDUHLO
&HV LQVWUXFWLRQV QH VRQW YDODEOHV TXH VL OH V\PEROH GX SD\V DSSDUDvW VXU O
DSSDUHLO 6L OH V\PEROH Q
DSSDUDvW
SDV VXU O
DSSDUHLO LO HVW QpFHVVDLUH GH VH UpIpUHU j OD QRWLFH WHFKQLTXH TXL IRXUQLUD OHV LQVWUXFWLRQV QpFHVVDLUHV
FRQFHUQDQW OD PRGLILFDWLRQ GH O
DSSDUHLO VHORQ OHV FRQGLWLRQV G
XWLOLVDWLRQ GX SD\V
DYDQW O
LQVWDOODWLRQ V
DVVXUHU TXH OHV FRQGLWLRQV GH GLVWULEXWLRQ ORFDOH OD QDWXUH GX JD] HW OD SUHVVLRQ HW
OH UpJODJH GH O
DSSDUHLO VRQW FRPSDWLEOHV
OHV FRQGLWLRQV GH UpJODJH GH FHW DSSDUHLO VRQW LQGLTXpV VXU O
pWLTXHWWH RX GRQQpHV GH OD SODTXHª
FHW DSSDUHLO Q
HVW SDV UHOLp j XQ GLVSRVLWLI G
pYDFXDWLRQ GHV SURGXLWV GH FRPEXVWLRQ ,O GRLW rWUH LQVWDOOp HW
UDFFRUGp FRQIRUPpPHQW DX[ UqJOHV G
LQVWDOODWLRQ HQ FRXUV 8QH DWWHQWLRQ SDUWLFXOLqUH GRLW rWUH DFFRUGpH DX[
H[LJHQFHV FRQFHUQDQW OD YHQWLODWLRQ
/HV UpVXOWDWV GH OD WDEOH JD] GDQV OD SURGXFWLRQ GH FKDOHXU GHSHQG GH O
KXPLGLWp GDQV OD SLqFH GDQV
ODTXHOOH HOOH HVW LQVWDOOp 9HLOOHU j FH TXH OD FXLVLQH VRLW ELHQ YHQWLOpH /DLVVH] OHV RXYHUWXUHV GH YHQWLODWLRQ
QDWXUHOOH RXYHUWHV RX LQVWDOOH] XQ GLVSRVLWLI GH YHQWLODWLRQ PpFDQLTXH KRWWH DVSLUDQWH PpFDQLTXH 8QH
XWLOLVDWLRQ LQWHQVLYH SURORQJpH GH O
DSSDUHLO SHXW IDLUH DSSHO j O
XWLOVDWLRQ G
XQH YHQWLODWLRQ VXSSOpPHQWDLUH
SDU H[HPSOH G
RXYHUWXUH G
XQH IHQrWUH RX SOXV HIILFDFH GH YHQWLODWLRQ PpFDQLTXH SDU H[HPSOH HQ DXJPHQWDQW
OH QLYHDX GH OD YHQWLODWLRQ PpFDQLTXH SUpVHQW
$77(17,21 /HV SDUWLHV DFFHVVLEOHV SHXYHQW rWUH FKDXGHV ORUVTXH OH EDUEHFXH HVW HQ FRXUV G
XWLOLVDWLRQ
OHV MHXQHV HQIDQWV GRLYHQW rWUH WHQXV j O
pFDUW
8Q PR\HQ VXSSOpPHQWDLUH GH SURWHFWLRQ SRXU pYLWHU WRXW FRQWDFW DYHF OD SRUWH GX IRXU HVW GLVSRQLEOH &HWWH
SDUWLH GRLW rWUH PRQWp VL GHV MHXQHV HQIDQWV VRQW VXVFHSWLEOHV G
rWUH SUpVHQWV
)5