Electrolux EIS84486 Manuel utilisateur

(,6
)5
7DEOHGHFXLVVRQ
1RWLFHG XWLOLVDWLRQ
Profiter pleinement
de vos appareils
électroménagers
Pour un accès rapide aux modes d’emploi en
ligne, guides pratiques, aide et plus encore,
enregistrez vos produits via photo en visitant
electrolux.com/register
ZZZHOHFWUROX[FRP
7$%/('(60$7,Š5(6
,1)250$7,216'(6‹&85,7‹ &216,*1(6'(6‹&85,7‹ ,167$//$7,21 '(6&5,37,21'(/ $33$5(,/ *8,'('('‹0$55$*(5$3,'( $9$17/$35(0,Š5(87,/,6$7,21 87,/,6$7,214827,',(11(
&216(,/6
(175(7,(1(71(772<$*(
'‹3$11$*( &$5$&7‹5,67,48(67(&+1,48(6
5(1'(0(17‹1(5*‹7,48(
12863(16216‚9286
0HUFLG DYRLUFKRLVLFHSURGXLW(OHFWUROX[$YHFFHSURGXLWYRXVE«Q«ILFLH]GH
GL]DLQHVG DQQ«HVG H[S«ULHQFHSURIHVVLRQQHOOHHWG LQQRYDWLRQ,QJ«QLHX[HW
«O«JDQWLOD«W«FRQ©XVXUPHVXUHSRXUYRXV*U¤FH¢FHWDSSDUHLOYRXVVDYH]
TXHFKDTXHXWLOLVDWLRQYRXVDSSRUWHUDVDWLVIDFWLRQ
%LHQYHQXHFKH](OHFWUROX[
9LVLWH]QRWUHVLWH,QWHUQHWSRXU
2EWHQLUGHVFRQVHLOVG XWLOLVDWLRQGHVEURFKXUHVGHO DLGHGHVLQIRUPDWLRQV
ZZZHOHFWUROX[FRPZHEVHOIVHUYLFH
(QUHJLVWUH]YRWUHSURGXLWSRXUREWHQLUXQPHLOOHXUVHUYLFH
ZZZUHJLVWHUHOHFWUROX[FRP
$FKHWHUGHVDFFHVVRLUHVFRQVRPPDEOHVHWSLªFHVGHUHFKDQJHG RULJLQHSRXU
YRWUHDSSDUHLO
ZZZHOHFWUROX[FRPVKRS
6(59,&($35Š69(17(
8WLOLVH]WRXMRXUVGHVSLªFHVG RULJLQH
$YDQWGHFRQWDFWHUOHVHUYLFHDSUªVYHQWHDVVXUH]YRXVGHGLVSRVHUGHV
LQIRUPDWLRQVVXLYDQWHV0RGªOH31&QXP«URGHV«ULH
9RXVWURXYHUH]FHVLQIRUPDWLRQVVXUODSODTXHVLJQDO«WLTXH
$YHUWLVVHPHQW&RQVLJQHVGHV«FXULW«
,QIRUPDWLRQVJ«Q«UDOHVHWFRQVHLOV
,QIRUPDWLRQVHQPDWLªUHGHSURWHFWLRQGHO HQYLURQQHPHQW
6RXVU«VHUYHGHPRGLILFDWLRQV
,1)250$7,216'(6‹&85,7‹
$YDQWG LQVWDOOHUHWG XWLOLVHUFHWDSSDUHLOOLVH]
VRLJQHXVHPHQWOHVLQVWUXFWLRQVIRXUQLHV/HIDEULFDQWQH
)5$1‰$,6
SRXUUD¬WUHWHQXSRXUUHVSRQVDEOHGHVEOHVVXUHVHW
G«J¤WVU«VXOWDQWG XQHPDXYDLVHLQVWDOODWLRQRX
XWLOLVDWLRQ&RQVHUYH]WRXMRXUVOHVLQVWUXFWLRQVGDQVXQ
OLHXV½UHWDFFHVVLEOHSRXUYRXV\U«I«UHUXOW«ULHXUHPHQW
6«FXULW«GHVHQIDQWVHWGHVSHUVRQQHV
YXOQ«UDEOHV
&HWDSSDUHLOSHXW¬WUHXWLOLV«SDUGHVHQIDQWVGHSOXV
GHDQVDLQVLTXHGHVSHUVRQQHVGRQWOHVFDSDFLW«V
SK\VLTXHVVHQVRULHOOHVHWPHQWDOHVVRQWU«GXLWHVRX
GRQWOHVFRQQDLVVDQFHVHWO H[S«ULHQFHVRQW
LQVXIILVDQWHV¢FRQGLWLRQG ¬WUHVXUYHLOO«VRXG DYRLU
UH©XGHVLQVWUXFWLRQVFRQFHUQDQWO XWLOLVDWLRQV«FXULV«H
GHO DSSDUHLOHWGHFRPSUHQGUHOHVULVTXHVHQFRXUXV
ವ /HVHQIDQWVHQWUHHWDQVHWOHVSHUVRQQHVD\DQWXQ
KDQGLFDSWUªVLPSRUWDQWHWFRPSOH[HGRLYHQW¬WUH
WHQXV¢O «FDUWGHO DSSDUHLO¢PRLQVG ¬WUHVXUYHLOO«V
HQSHUPDQHQFH
ವ /HVHQIDQWVGHPRLQVGHDQVGRLYHQW¬WUHWHQXV¢
O «FDUWGHO DSSDUHLO¢PRLQVG ¬WUHVXUYHLOO«VHQ
SHUPDQHQFH
ವ 1HODLVVH]SDVOHVHQIDQWVMRXHUDYHFO DSSDUHLO
ವ 1HODLVVH]SDVOHVHPEDOODJHV¢ODSRUW«HGHVHQIDQWV
HWMHWH]OHVFRQYHQDEOHPHQW
ವ 7HQH]OHVHQIDQWVHWOHVDQLPDX[«ORLJQ«VGH
O DSSDUHLOORUVTX LOHVWHQFRXUVGHIRQFWLRQQHPHQWRX
ORUVTX LOUHIURLGLW/HVSDUWLHVDFFHVVLEOHVVRQW
FKDXGHV
ವ 6LO DSSDUHLOHVW«TXLS«G XQGLVSRVLWLIGHV«FXULW«
HQIDQWVQRXVYRXVUHFRPPDQGRQVGHO DFWLYHU
ವ /HVHQIDQWVQHGRLYHQWSDVQHWWR\HUQLHQWUHSUHQGUH
XQHRS«UDWLRQGHPDLQWHQDQFHVXUO DSSDUHLOVDQV
VXUYHLOODQFH
ವ
6«FXULW«J«Q«UDOH
ವ
$9(57,66(0(17/ DSSDUHLOHWVHVSDUWLHV
DFFHVVLEOHVGHYLHQQHQWFKDXGVSHQGDQWVRQ
ZZZHOHFWUROX[FRP
IRQFWLRQQHPHQW9HLOOH]¢QHSDVWRXFKHUOHV«O«PHQWV
FKDXIIDQWV
ವ 1HIDLWHVSDVIRQFWLRQQHUO DSSDUHLODYHFXQPLQXWHXU
H[WHUQHRXXQV\VWªPHGHFRPPDQGH¢GLVWDQFH
ವ $9(57,66(0(17,OSHXW¬WUHGDQJHUHX[GHODLVVHU
FKDXIIHUGHODJUDLVVHRXGHO KXLOHVDQVVXUYHLOODQFH
VXUXQHWDEOHGHFXLVVRQFDUFHODSRXUUDLWSURYRTXHU
XQLQFHQGLH
ವ 1 HVVD\H]-$0$,6G «WHLQGUHXQIHXDYHFGHO HDX
‹WHLJQH]O DSSDUHLOSXLVFRXYUH]OHVIODPPHVSDU
H[HPSOHDYHFXQFRXYHUFOHRXXQHFRXYHUWXUH
LJQLIXJH
ವ $77(17,217RXWHFXLVVRQGRLW¬WUHVXUYHLOO«H8QH
FXLVVRQFRXUWHGRLW¬WUHVXUYHLOO«HHQSHUPDQHQFH
ವ $9(57,66(0(175LVTXHG LQFHQGLH1 HQWUHSRVH]
ULHQVXUOHVVXUIDFHVGHFXLVVRQ
ವ 1HSRVH]SDVG REMHWVP«WDOOLTXHVWHOVTXHFRXWHDX[
IRXUFKHWWHVFXLOOªUHVRXFRXYHUFOHVVXUODWDEOHGH
FXLVVRQFDULOVSRXUUDLHQWFKDXIIHU
ವ 1 XWLOLVH]SDVO DSSDUHLODYDQWGHO DYRLULQVWDOO«GDQVOD
VWUXFWXUHHQFDVWU«H
ವ 1 XWLOLVH]SDVGHQHWWR\HXUYDSHXUSRXUQHWWR\HU
O DSSDUHLO
ವ $SUªVXWLOLVDWLRQ«WHLJQH]WRXMRXUVOD]RQHGHFXLVVRQ
¢O DLGHGHODPDQHWWHGHFRPPDQGHFRUUHVSRQGDQWH
HWQHYRXVILH]SDV¢ODG«WHFWLRQGHVU«FLSLHQWV
ವ 6LODVXUIDFHYLWURF«UDPLTXHHQYHUUHHVWILVVXU«H
«WHLJQH]O DSSDUHLOHWG«EUDQFKH]OH6LO DSSDUHLOHVW
EUDQFK«¢O DOLPHQWDWLRQVHFWHXUGLUHFWHPHQWHQ
XWLOLVDQWXQHER°WHGHMRQFWLRQUHWLUH]OHIXVLEOHSRXU
G«FRQQHFWHUO DSSDUHLOGHO DOLPHQWDWLRQVHFWHXU'DQV
WRXVOHVFDVFRQWDFWH]OHVHUYLFHDSUªVYHQWHDJU««
ವ 6LOHF¤EOHG DOLPHQWDWLRQHVWHQGRPPDJ«LOGRLW¬WUH
UHPSODF«SDUOHIDEULFDQWXQVHUYLFHGHPDLQWHQDQFH
DJU««RXXQWHFKQLFLHQTXDOLIL«DILQG «YLWHUWRXW
GDQJHU
)5$1‰$,6
ವ
$9(57,66(0(178WLOLVH]XQLTXHPHQWOHV
GLVSRVLWLIVGHSURWHFWLRQSRXUWDEOHGHFXLVVRQFRQ©XV
RXLQGLTX«VFRPPHDGDSW«VSDUOHIDEULFDQWGH
O DSSDUHLOGHFXLVVRQGDQVOHVLQVWUXFWLRQVG XWLOLVDWLRQ
RXOHVGLVSRVLWLIVGHSURWHFWLRQSRXUWDEOHGHFXLVVRQ
LQW«JU«V¢O DSSDUHLO/ XWLOLVDWLRQGHGLVSRVLWLIVGH
SURWHFWLRQQRQDGDSW«VSHXWHQWUD°QHUGHVDFFLGHQWV
&216,*1(6'(6‹&85,7‹
,QVWDOODWLRQ
$9(57,66(0(17
/ DSSDUHLOGRLW¬WUHLQVWDOO«
XQLTXHPHQWSDUXQ
SURIHVVLRQQHOTXDOLIL«
$9(57,66(0(17
5LVTXHGHEOHVVXUH
FRUSRUHOOHRXGHGRPPDJHV
PDW«ULHOV
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
5HWLUH]O LQW«JUDOLW«GHO HPEDOODJH
1 LQVWDOOH]SDVHWQHEUDQFKH]SDVXQ
DSSDUHLOHQGRPPDJ«
6XLYH]VFUXSXOHXVHPHQWOHV
LQVWUXFWLRQVG LQVWDOODWLRQIRXUQLHV
DYHFO DSSDUHLO
5HVSHFWH]O HVSDFHPHQWPLQLPDO
UHTXLVSDUUDSSRUWDX[DXWUHV
DSSDUHLOVHW«O«PHQWV
6R\H]WRXMRXUVYLJLODQWVORUVTXHYRXV
G«SODFH]O DSSDUHLOFDULOHVWORXUG
8WLOLVH]WRXMRXUVGHVJDQWVGHV«FXULW«
HWGHVFKDXVVXUHVIHUP«HV
,VROH]OHVVXUIDFHVG«FRXS«HV¢O DLGH
G XQPDW«ULDXG «WDQFK«LW«SRXU«YLWHU
TXHODPRLVLVVXUHQHSURYRTXHGH
JRQIOHPHQWV
3URW«JH]ODSDUWLHLQI«ULHXUHGH
O DSSDUHLOGHODYDSHXUHWGH
O KXPLGLW«
1 LQVWDOOH]SDVO DSSDUHLOSUªVG XQH
SRUWHRXVRXVXQHIHQ¬WUH/HV
U«FLSLHQWVFKDXGVULVTXHUDLHQWGH
WRPEHUGHO DSSDUHLOORUVGHO RXYHUWXUH
GHFHOOHVFL
&KDTXHDSSDUHLOHVWGRW«GH
YHQWLODWHXUVGHUHIURLGLVVHPHQWGDQV
OHIRQG
6LO DSSDUHLOHVWLQVWDOO«DXGHVVXV
G XQWLURLU
ವ
ದ 1HUDQJH]SDVGHIHXLOOHVQLGH
SHWLWVERXWVGHSDSLHUTXL
SRXUUDLHQW¬WUHDVSLU«VHW
HQGRPPDJHUOHVYHQWLODWHXUVGH
UHIURLGLVVHPHQWRXOHV\VWªPHGH
UHIURLGLVVHPHQW
ದ /DLVVH]XQHGLVWDQFHG DXPRLQV
FPHQWUHOHIRQGGHO DSSDUHLOHW
OHVREMHWVUDQJ«VGDQVOHWLURLU
5HWLUH]OHVSDQQHDX[GHV«SDUDWLRQ
LQVWDOO«VGDQVOHPHXEOHVRXV
O DSSDUHLO
%UDQFKHPHQW«OHFWULTXH
$9(57,66(0(17
5LVTXHG LQFHQGLHRX
G «OHFWURFXWLRQ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
/ HQVHPEOHGHVEUDQFKHPHQWV
«OHFWULTXHVGRLW¬WUHHIIHFWX«SDUXQ
WHFKQLFLHQTXDOLIL«
/ DSSDUHLOGRLW¬WUHUHOL«¢ODWHUUH
$YDQWWRXWHLQWHUYHQWLRQDVVXUH]
YRXVTXHO DSSDUHLOHVWG«EUDQFK«
9«ULILH]TXHOHVSDUDPªWUHVILJXUDQW
VXUODSODTXHVLJQDO«WLTXH
FRUUHVSRQGHQWDX[GRQQ«HV
«OHFWULTXHVGHYRWUHU«VHDX
$VVXUH]YRXVTXHO DSSDUHLOHVWELHQ
LQVWDOO«8QF¤EOHG DOLPHQWDWLRQO¤FKH
HWLQDSSURSUL«RXXQHILFKH VL
SU«VHQWH QRQVHUU«HSHXYHQW¬WUH¢
O RULJLQHG XQHVXUFKDXIIHGHVERUQHV
8WLOLVH]OHF¤EOHG DOLPHQWDWLRQ
«OHFWULTXHDSSURSUL«
1HODLVVH]SDVOHF¤EOHG DOLPHQWDWLRQ
V HPP¬OHU
$VVXUH]YRXVTX XQHSURWHFWLRQDQWL
«OHFWURFXWLRQHVWLQVWDOO«H
8WLOLVH]XQFROOLHUDQWLWUDFWLRQVXUOH
F¤EOH
ZZZHOHFWUROX[FRP
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
$VVXUH]YRXVTXHOHF¤EOH
G DOLPHQWDWLRQRXODILFKH VLSU«VHQWH
Q HQWUHQWSDVHQFRQWDFWDYHFOHV
VXUIDFHVEU½ODQWHVGHO DSSDUHLORXOHV
U«FLSLHQWVEU½ODQWVORUVTXHYRXV
EUDQFKH]O DSSDUHLO¢GHVSULVHV
«OHFWULTXHVVLWX«HV¢SUR[LPLW«
1 XWLOLVH]SDVG DGDSWDWHXUV
PXOWLSULVHVQLGHUDOORQJHV
9HLOOH]¢QHSDVHQGRPPDJHUODILFKH
VHFWHXU VLSU«VHQWH QLOHF¤EOH
G DOLPHQWDWLRQ&RQWDFWH]QRWUH
VHUYLFHDSUªVYHQWHDJU««RXXQ
«OHFWULFLHQSRXUUHPSODFHUOHF¤EOH
G DOLPHQWDWLRQV LOHVWHQGRPPDJ«
/DSURWHFWLRQFRQWUHOHVFKRFVGHV
SDUWLHVVRXVWHQVLRQHWLVRO«HVGRLW
¬WUHIL[«HGHWHOOHPDQLªUHTX HOOHQH
SHXWSDV¬WUHHQOHY«HVDQVRXWLOV
1HEUDQFKH]ODILFKHG DOLPHQWDWLRQ¢
ODSULVHGHFRXUDQWTX ¢ODILQGH
O LQVWDOODWLRQ$VVXUH]YRXVTXHOD
SULVHGHFRXUDQWHVWDFFHVVLEOHXQH
IRLVO DSSDUHLOLQVWDOO«
6LODSULVHGHFRXUDQWHVWO¤FKHQH
EUDQFKH]SDVODILFKHG DOLPHQWDWLRQ
VHFWHXU
1HWLUH]MDPDLVVXUOHF¤EOH
G DOLPHQWDWLRQSRXUG«EUDQFKHU
O DSSDUHLO7LUH]WRXMRXUVVXUODILFKH
1 XWLOLVH]TXHGHVV\VWªPHV
G LVRODWLRQDSSURSUL«VGHVFRXSH
FLUFXLWVGHVIXVLEOHV OHVIXVLEOHV¢
YLVVHUGRLYHQW¬WUHUHWLU«VGXVXSSRUW XQGLVMRQFWHXUGLII«UHQWLHOHWGHV
FRQWDFWHXUV
/ LQVWDOODWLRQ«OHFWULTXHGRLW¬WUH
«TXLS«HG XQGLVSRVLWLIG LVROHPHQW¢
FRXSXUHRPQLSRODLUH/HGLVSRVLWLI
G LVROHPHQWGRLWSU«VHQWHUXQH
GLVWDQFHG RXYHUWXUHGHVFRQWDFWV
G DXPRLQVPP
8WLOLVDWLRQ
$9(57,66(0(17
5LVTXHGHEOHVVXUHVGH
EU½OXUHVRXG «OHFWURFXWLRQ
ವ
ವ
ವ
$YDQWODSUHPLªUHXWLOLVDWLRQUHWLUH]
OHVHPEDOODJHVOHV«WLTXHWWHVHWOHV
ILOPVGHSURWHFWLRQ VLSU«VHQWV &HWDSSDUHLOHVWH[FOXVLYHPHQW
GHVWLQ«¢XQHXWLOLVDWLRQGRPHVWLTXH
1HPRGLILH]SDVOHVFDUDFW«ULVWLTXHV
GHFHWDSSDUHLO
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
$VVXUH]YRXVTXHOHVRULILFHVGH
YHQWLODWLRQQHVRQWSDVERXFK«V
1HODLVVH]MDPDLVO DSSDUHLOVDQV
VXUYHLOODQFHSHQGDQWVRQ
IRQFWLRQQHPHQW
‹WHLJQH]OHV]RQHVGHFXLVVRQDSUªV
FKDTXHXWLOLVDWLRQ
1HYRXVILH]SDVXQLTXHPHQWDX
G«WHFWHXUGHU«FLSLHQW
1HSRVH]SDVGHFRXYHUWVRXGH
FRXYHUFOHVVXUOHV]RQHVGHFXLVVRQ
(OOHVVRQWFKDXGHV
1 XWLOLVH]MDPDLVFHWDSSDUHLODYHFOHV
PDLQVPRXLOO«HVRXORUVTX LOHVWHQ
FRQWDFWDYHFGHO HDX
1 XWLOLVH]MDPDLVO DSSDUHLOFRPPH
SODQGHWUDYDLORXFRPPHSODQGH
VWRFNDJH
6LODVXUIDFHGHO DSSDUHLOSU«VHQWH
GHVI¬OXUHVG«EUDQFKH]
LPP«GLDWHPHQWO DSSDUHLOSRXU«YLWHU
WRXWULVTXHG «OHFWURFXWLRQ
/HVSRUWHXUVGHSDFHPDNHUVGRLYHQW
UHVWHU¢XQHGLVWDQFHPLQLPDOHGH
FPGHV]RQHVGHFXLVVRQ¢
LQGXFWLRQORUVTXHO DSSDUHLOHVWHQ
FRXUVGHIRQFWLRQQHPHQW
/RUVTXHYRXVYHUVH]XQDOLPHQWGDQV
GHO KXLOHFKDXGHHOOHSHXW
«FODERXVVHU
$9(57,66(0(17
5LVTXHG LQFHQGLHHW
G H[SORVLRQ
ವ
ವ
ವ
ವ
/HVJUDLVVHVHWO KXLOHFKDXGHV
SHXYHQWG«JDJHUGHVYDSHXUV
LQIODPPDEOHV7HQH]OHVIODPPHVRX
OHVREMHWVFKDXGV«ORLJQ«VGHV
JUDLVVHVHWGHO KXLOHORUVTXHYRXV
YRXVHQVHUYH]SRXUFXLVLQHU
/HVYDSHXUVG«JDJ«HVSDUO KXLOHWUªV
FKDXGHSHXYHQWSURYRTXHUXQH
FRPEXVWLRQVSRQWDQ«H
/ KXLOHTXLDVHUYLFRQWLHQWGHVUHVWHV
G DOLPHQWVSRXYDQWSURYRTXHUXQ
LQFHQGLH¢WHPS«UDWXUHSOXVIDLEOHTXH
O KXLOHQ D\DQWMDPDLVVHUYL
1HSODFH]SDVGHSURGXLWV
LQIODPPDEOHVRXG «O«PHQWVLPELE«V
GHSURGXLWVLQIODPPDEOHV¢O LQW«ULHXU
RX¢SUR[LPLW«GHO DSSDUHLOQLVXU
FHOXLFL
)5$1‰$,6
$9(57,66(0(17
5LVTXHG HQGRPPDJHPHQW
GHO DSSDUHLO
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
1HODLVVH]SDVGHU«FLSLHQWVFKDXGV
VXUOHEDQGHDXGHFRPPDQGH
1HSRVH]SDVGHFRXYHUFOHGH
FDVVHUROHFKDXGVXUODVXUIDFHHQ
YHUUHGHODWDEOHGHFXLVVRQ
1HODLVVH]SDVOHFRQWHQXGHV
U«FLSLHQWVGHFXLVVRQV «YDSRUHU
FRPSOªWHPHQW
3UHQH]VRLQGHQHSDVODLVVHUWRPEHU
G REMHWVRXGHU«FLSLHQWVVXUO DSSDUHLO
6DVXUIDFHULVTXHG ¬WUH
HQGRPPDJ«H
1HIDLWHVMDPDLVIRQFWLRQQHUOHV]RQHV
GHFXLVVRQDYHFGHVU«FLSLHQWVGH
FXLVVRQYLGHVRXVDQVDXFXQU«FLSLHQW
GHFXLVVRQ
1HSODFH]MDPDLVGHSDSLHUDOXPLQLXP
VXUO DSSDUHLO
1 XWLOLVH]SDVGHU«FLSLHQWVHQIRQWH
RXHQDOXPLQLXPQLGHU«FLSLHQWVGRQW
OHIRQGHVWHQGRPPDJ«HWUXJXHX[
,OVULVTXHUDLHQWGHUD\HUOHYHUUHRXOD
VXUIDFHYLWURF«UDPLTXH6RXOHYH]
WRXMRXUVFHVREMHWVORUVTXHYRXV
GHYH]OHVG«SODFHUVXUODVXUIDFHGH
FXLVVRQ
&HWDSSDUHLOHVWH[FOXVLYHPHQW
GHVWLQ«¢XQXVDJHFXOLQDLUH1H
O XWLOLVH]SDVSRXUGHVXVDJHVDXWUHV
TXHFHOXLSRXUOHTXHOLOD«W«FRQ©X¢
GHVILQVGHFKDXIIDJHSDUH[HPSOH
ವ
ವ
ವ
ವ
‹WHLJQH]O DSSDUHLOHWODLVVH]OH
UHIURLGLUDYDQWGHOHQHWWR\HU
'«EUDQFKH]OಬDSSDUHLOGH
O DOLPHQWDWLRQ«OHFWULTXHDYDQWWRXWH
RS«UDWLRQGHPDLQWHQDQFH
1HSXOY«ULVH]SDVG HDXQLGHYDSHXU
SRXUQHWWR\HUO DSSDUHLO
1HWWR\H]O DSSDUHLODYHFXQFKLIIRQ
GRX[KXPLGH8WLOLVH]XQLTXHPHQWGHV
SURGXLWVGHODYDJHQHXWUHV1 XWLOLVH]
SDVGHSURGXLWVDEUDVLIVGHWDPSRQV
¢U«FXUHUGHVROYDQWVQLG REMHWV
P«WDOOLTXHV
0DLQWHQDQFH
ವ
ವ
3RXUU«SDUHUO DSSDUHLOFRQWDFWH]XQ
VHUYLFHDSUªVYHQWHDJU««
8WLOLVH]H[FOXVLYHPHQWGHVSLªFHV
G RULJLQH
0LVHDXUHEXW
$9(57,66(0(17
5LVTXHGHEOHVVXUHRX
G DVSK\[LH
ವ
ವ
ವ
&RQWDFWH]YRWUHVHUYLFHPXQLFLSDO
SRXUREWHQLUGHVLQIRUPDWLRQVVXUOD
PDUFKH¢VXLYUHSRXUPHWWUHO DSSDUHLO
DXUHEXW
'«EUDQFKH]O DSSDUHLOGH
O DOLPHQWDWLRQ«OHFWULTXH
&RXSH]OHF¤EOHG DOLPHQWDWLRQDXUDV
GHO DSSDUHLOHWPHWWH]OHDXUHEXW
(QWUHWLHQHWQHWWR\DJH
ವ
1HWWR\H]U«JXOLªUHPHQWO DSSDUHLODILQ
GHPDLQWHQLUOHUHY¬WHPHQWHQERQ
«WDW
,167$//$7,21
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
$YDQWO LQVWDOODWLRQ
$YDQWG LQVWDOOHUODWDEOHGHFXLVVRQ
QRWH]OHVLQIRUPDWLRQVGHODSODTXH
VLJQDO«WLTXHFLGHVVRXV/DSODTXH
VLJQDO«WLTXHVHWURXYHDXEDVGHODWDEOH
GHFXLVVRQ
1XP«URGHV«ULH
7DEOHVGHFXLVVRQLQW«JU«HV
/HVWDEOHVGHFXLVVRQHQFDVWUDEOHVQH
SHXYHQW¬WUHPLVHVHQIRQFWLRQQHPHQW
TX DSUªVDYRLU«W«LQVWDOO«HVGDQVGHV
PHXEOHVHWVXUGHVSODQVGHWUDYDLO
KRPRORJX«VHWDGDSW«V
ZZZHOHFWUROX[FRP
&¤EOHG DOLPHQWDWLRQ
ವ
/DWDEOHGHFXLVVRQHVWIRXUQLHDYHF
XQF¤EOHG DOLPHQWDWLRQ
3RXUUHPSODFHUOHF¤EOH
G DOLPHQWDWLRQHQGRPPDJ«XWLOLVH]OH
W\SHGHF¤EOHVXLYDQW+99)
TXLGRLWVXSSRUWHUXQHWHPS«UDWXUH
PLQLPDOHGHr&&RQWDFWH]YRWUH
VHUYLFHDSUªVYHQWH
ವ
0RQWDJH
min.
500mm
min.
50mm
6LO DSSDUHLOHVWLQVWDOO«DX
GHVVXVG XQWLURLUOD
YHQWLODWLRQGHODWDEOHGH
FXLVVRQSHXWFKDXIIHUOHV
«O«PHQWVUDQJ«VGDQVOH
WLURLUGXUDQWODFXLVVRQ
'(6&5,37,21'(/ $33$5(,/
'HVFULSWLRQGHODWDEOHGHFXLVVRQ
1
1
=RQHGHFXLVVRQ¢LQGXFWLRQ
%DQGHDXGHFRPPDQGH
1
1
2
)5$1‰$,6
'HVFULSWLRQGXEDQGHDXGHFRPPDQGH
1
2
3
4
5
6
7
11
12
8
10 9
3RXUYRLUOHVU«JODJHVGLVSRQLEOHVDSSX\H]VXUOHV\PEROHFRUUHVSRQGDQW
6\P഻
EROH
&RPPHQWDLUH
0$5&+($55Œ7
3RXUDOOXPHUHW«WHLQGUHODWDEOHGHFXLVVRQ
0HQX
3RXURXYULUHWIHUPHUOH0HQX
6«OHFWLRQGH]RQH
3RXURXYULUOHFXUVHXUGHOD]RQHV«OHFWLRQQ«H
9R\DQWGH]RQH
3RXULQGLTXHUOD]RQH¢ODTXHOOHDSSDUWLHQWOH
FXUVHXUDFWLY«
3RXUU«JOHUOHVIRQFWLRQVGX0LQXWHXU
&XUVHXU
3RXUU«JOHUOHQLYHDXGHFXLVVRQ
3RZHU%RRVW
3RXUDFWLYHUODIRQFWLRQ
9HUURXLOODJH
3RXUDFWLYHUHWG«VDFWLYHUODIRQFWLRQ
/DIHQ¬WUH+REt+RRGGXFRPPXQLFDWHXUGXVLಣ
JQDOLQIUDURXJH1HODFRXYUH]SDV
3DXVH
3RXUDFWLYHUHWG«VDFWLYHUODIRQFWLRQ
3RXULQGLTXHUOHQLYHDXGHFXLVVRQDFWXHO
%ULGJH
3RXUDFWLYHUHWG«VDFWLYHUODIRQFWLRQ
2SWL+HDW&RQWURO 9R\DQW
GHFKDOHXUU«VLGXHOOH¢WURLV
QLYHDX[
$9(57,66(0(17
,,,,,,,O\DULVTXHGH
EU½OXUHVSDUODFKDOHXU
U«VLGXHOOH/HVYR\DQWV
LQGLTXHQWOHQLYHDXGH
FKDOHXUU«VLGXHOOH
/HV]RQHVGHFXLVVRQ¢LQGXFWLRQ
J«QªUHQWODFKDOHXUQ«FHVVDLUH
GLUHFWHPHQWVXUOHIRQGGHVU«FLSLHQWVGH
FXLVVRQ/DYLWURF«UDPLTXHHVWFKDXII«H
SDUODFKDOHXUGHVU«FLSLHQWV
ZZZHOHFWUROX[FRP
*8,'('('‹0$55$*(5$3,'(
8WLOLVDWLRQGHO «FUDQWDFWLOH
ವ
ವ
ವ
ವ
ವ
ವ
ವ
3RXUDFWLYHUXQHRSWLRQDSSX\H]VXU
OHV\PEROHFRUUHVSRQGDQWVXU
O DIILFKDJH
/DIRQFWLRQFKRLVLHV DFWLYHORUVTXH
YRXVUHWLUH]YRWUHGRLJWGHO DIILFKDJH
3RXUIDLUHG«ILOHUOHVRSWLRQV
GLVSRQLEOHVIDLWHVXQJHVWHUDSLGHRX
SDVVH]YRWUHGRLJWVXUO DIILFKDJH
/DYLWHVVHGHYRWUHJHVWHG«WHUPLQHOD
YLWHVVHGHG«ILOHPHQWGHO «FUDQ
/HG«ILOHPHQWSHXWV DUU¬WHUGHOXL
P¬PHRXYRXVSRXYH]O DUU¬WHU
LPP«GLDWHPHQWHQWRXFKDQW
O DIILFKDJH
9RXVSRXYH]FKDQJHUODSOXSDUWGHV
SDUDPªWUHVDIILFK«VHQWRXFKDQWOHV
V\PEROHVFRUUHVSRQGDQWV
3RXUV«OHFWLRQQHUODIRQFWLRQ
VRXKDLW«HRXO KHXUHYRXVSRXYH]
IDLUHG«ILOHUODOLVWHHWRXWRXFKHU
O RSWLRQTXHYRXVVRXKDLWH]FKRLVLU
ವ
ವ
ವ
ವ
/RUVTXHODWDEOHGHFXLVVRQHVW
DOOXP«HHWTXHFHUWDLQVV\PEROHV
GLVSDUDLVVHQWWRXFKH]O «FUDQ7RXV
OHVV\PEROHVV DIILFKHQW¢QRXYHDX
3RXUFHUWDLQHVIRQFWLRQVXQHIHQ¬WUH
FRQWH[WXHOOHFRQWHQDQWGHV
LQIRUPDWLRQVVXSSO«PHQWDLUHV
V DIILFKHGªVTXHYRXVOHVDFWLYH]
6HXOVOHVV\PEROHV«FODLU«VSHXYHQW
¬WUHXWLOLV«V
&KRLVLVVH]G DERUGXQH]RQHSRXU
DFWLYHUOHVIRQFWLRQVGXPLQXWHXU
0HQXVWUXFWXUH
$SSX\H]VXU SRXUDFF«GHUDX[
U«JODJHVGHODWDEOHGHFXLVVRQHWOHV
PRGLILHURXSRXUDFWLYHUFHUWDLQHV
IRQFWLRQV/HWDEOHDXFRQWLHQWODVWUXFWXUH
GHEDVHGX0HQX
0HQX
&XLVVRQDVVLVW«H
)RQFWLRQVWDEOHGHFXLVಣ
VRQ
)RQGUH
)5$1‰$,6
5«JODJHV
6«FXULW«HQIDQWV
6WRSZDWFK
+REt+RRG
+$UU¬W
+‹FODLUDJHXQLTXHPHQW
+9LWHVVHGHYHQWLODWLRQIDLEOH
+9HQWLODWLRQDXWRPDWLTXHIDLಣ
EOH
+9HQWLODWLRQDXWRPDWLTXH
PR\HQQH
+9HQWLODWLRQDXWRPDWLTXH«OHಣ
Y«H
+9HQWLODWLRQDXWRPDWLTXH
%RRVW
5«JODJHV
&XLVVRQDVVLVW«H
/DQJXH
7RQDOLW«WRXFKHV
9ROXPHDODUPH
$IILFKDJHOXPLQRVLW«
0DLQWHQDQFH
0RGHG«PR
/LFHQFH
$IILFKHUODYHUVLRQGXORJLFLHO
+LVWRULTXHG DODUPH
5«LQLWLDOLVHUOHVU«JODJHV
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
DSSDUD°W6XLYH]OHVFRQVHLOVSRXU
QDYLJXHUIDFLOHPHQWGDQVOH0HQX
6LYRXV¬WHVHQEDVGX0HQXIDLWHV
QDYLJXHUGDQVOH0HQXXWLOLVH] RX G«ILOHUODOLVWHYHUVOHKDXWHWXWLOLVH] RX
/RUVTXHYRXVPDLQWHQH]YRWUHGRLJW
DSSX\«VXUFHUWDLQHVRSWLRQVGX0HQX
XQHEUªYHGHVFULSWLRQGHFHOOHFL
DSSX\H]VXU
SRXUTXLWWHUOH0HQX
$9$17/$35(0,Š5(87,/,6$7,21
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
3UHPLHUEUDQFKHPHQW¢
O DOLPHQWDWLRQVHFWHXU
/RUVTXHYRXVEUDQFKH]ODWDEOHGH
FXLVVRQ¢O DOLPHQWDWLRQYRXVGHYH]
G«ILQLUOD/DQJXHOD$IILFKDJHOXPLQRVLW«
HWOH9ROXPHDODUPH
ZZZHOHFWUROX[FRP
9RXVSRXYH]PRGLILHUOHU«JODJHGDQVOH
0HQX!5«JODJHV!5«JODJHV5HSRUWH]
YRXVDXFKDSLWUHm8WLOLVDWLRQ
TXRWLGLHQQH}
87,/,6$7,214827,',(11(
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
1LYHDXGHFXLV഻
VRQ
/DWDEOHGHFXLV഻
VRQV «WHLQWDX
ERXWGH
$FWLYDWLRQHWG«VDFWLYDWLRQ
KHXUHV
$SSX\H]VXU SHQGDQWVHFRQGHSRXU
DFWLYHURXG«VDFWLYHUODWDEOHGHFXLVVRQ
KHXUHV
KHXUHV
$UU¬WDXWRPDWLTXH
KHXUH
&HWWHIRQFWLRQDUU¬WHODWDEOHGH
FXLVVRQDXWRPDWLTXHPHQWVL
ವ
WRXWHVOHV]RQHVGHFXLVVRQVRQW
G«VDFWLY«HV
ವ YRXVQHU«JOH]SDVOHQLYHDXGH
FXLVVRQDSUªVDYRLUDOOXP«ODWDEOHGH
FXLVVRQ
ವ YRXVDYH]UHQYHUV«TXHOTXHFKRVHRX
SODF«XQREMHWVXUOHEDQGHDXGH
FRPPDQGHSHQGDQWSOXVGH
VHFRQGHV XQHFDVVHUROHXQ
WRUFKRQHWF 8QVLJQDOVRQRUH
UHWHQWLWHWODWDEOHGHFXLVVRQV «WHLQW
5HWLUH]O REMHWGXEDQGHDXGH
FRPPDQGHRXQHWWR\H]FHOXLFL
ವ ODWDEOHGHFXLVVRQVXUFKDXIIH SDUH[
ORUVTX XQU«FLSLHQWFKDXIIH¢YLGH /DLVVH]UHIURLGLUOD]RQHGHFXLVVRQ
DYDQWGHU«XWLOLVHUODWDEOHGHFXLVVRQ
ವ YRXVXWLOLVH]XQU«FLSLHQWLQDGDSW«RX
TX LOQ \DSDVGHU«FLSLHQWVXUXQH
]RQH/HV\PEROHEODQFGHOD]RQHGH
FXLVVRQFOLJQRWHHWOD]RQHGHFXLVVRQ
¢LQGXFWLRQV «WHLQWDXWRPDWLTXHPHQW
DXERXWG XQHPLQXWH
ವ YRXVQHG«VDFWLYH]SDVOD]RQHGH
FXLVVRQRXQHPRGLILH]SDVOHQLYHDX
GHFXLVVRQ$XERXWGHTXHOTXHV
LQVWDQWVXQPHVVDJHV DIILFKHHWOD
WDEOHGHFXLVVRQV «WHLQW
/DUHODWLRQHQWUHOHQLYHDXGHFXLVVRQ
HWODGXU«HDSUªVODTXHOOHODWDEOHGH
FXLVVRQV «WHLQW
8WLOLVDWLRQGHV]RQHVGH
FXLVVRQ
3RVH]OHU«FLSLHQWDXFHQWUHGHOD]RQH
GHFXLVVRQVRXKDLW«H/HV]RQHVGH
FXLVVRQ¢LQGXFWLRQV DGDSWHQW
DXWRPDWLTXHPHQWDXGLDPªWUHGXIRQGGX
U«FLSLHQWXWLOLV«
'ªVTXHYRXVSODFH]OHU«FLSLHQWVXUOD
]RQHGHFXLVVRQV«OHFWLRQQ«HODWDEOHGH
FXLVVRQOHG«WHFWHDXWRPDWLTXHPHQWHWOH
FXUVHXUFRUUHVSRQGDQWV DIILFKH/H
FXUVHXUUHVWHYLVLEOHSHQGDQW
VHFRQGHVDSUªVFHODODYXH
SULQFLSDOHV DIILFKH¢QRXYHDX3RXU
IHUPHUOHFXUVHXUSOXVUDSLGHPHQW
DSSX\H]VXUO DIILFKDJHHQGHKRUVGHOD
]RQHGXFXUVHXU
/RUVTXHOHVDXWUHV]RQHVVRQWDFWLY«HV
OHQLYHDXGHFXLVVRQGHOD]RQHTXHYRXV
VRXKDLWH]XWLOLVHUSHXW¬WUHOLPLW«
5HSRUWH]YRXVDXFKDSLWUH
m*HVWLRQQDLUHGHSXLVVDQFH}
$VVXUH]YRXVTXHOH
U«FLSLHQWHVWFRPSDWLEOH
DYHFOHVWDEOHVGHFXLVVRQ¢
LQGXFWLRQ3RXUSOXV
G LQIRUPDWLRQVVXUOHVW\SHV
GHU«FLSLHQWVUHSRUWH]YRXV
DXSDUDJUDSKHm7\SHVGH
U«FLSLHQWV}GXFKDSLWUH
m&RQVHLOV}9«ULILH]ODWDLOOH
GXU«FLSLHQWGDQVOHV
m'RQQ«HVWHFKQLTXHV}
)5$1‰$,6
1LYHDXGHFXLVVRQ
$OOXPH]ODWDEOHGHFXLVVRQ
3ODFH]OHU«FLSLHQWVXUOD]RQHGH
FXLVVRQVRXKDLW«H
/HFXUVHXUGHOD]RQHGHFXLVVRQDFWLYH
V DIILFKHHWUHVWHDFWLISHQGDQW
VHFRQGHV
$SSX\H]RXIDLWHVJOLVVHUYRWUHGRLJW
VXUOHFXUVHXUSRXUU«JOHUOHQLYHDX
GHFXLVVRQVRXKDLW«
/HV\PEROHGHYLHQWURXJHHWJURVVLW
ವ
ವ
ವ
ವ
/DIRQFWLRQV DFWLYHORUVTXHODFKDUJH
«OHFWULTXHWRWDOHGHV]RQHVGHFXLVVRQ
UDFFRUG«HV¢XQHSKDVHVLPSOH
G«SDVVH:
/DIRQFWLRQGLPLQXHODSXLVVDQFHGHV
DXWUHV]RQHVGHFXLVVRQUDFFRUG«HV¢
ODP¬PHSKDVHFHTXLDXQH
LQIOXHQFHVXUOHQLYHDXGHFKDOHXU
GLVSRQLEOH
/HQLYHDXGHFKDOHXUPD[LPDOHVW
YLVLEOHVXUOHFXUVHXU6HXOVOHV
FKLIIUHVHQEODQFSHXYHQW¬WUHDFWLY«V
6LXQQLYHDXGHFKDOHXUVXS«ULHXU
Q HVWSDVGLVSRQLEOHFRPPHQFH]SDU
U«GXLUHOHQLYHDXGHVDXWUHV]RQHVGH
FXLVVRQ
3RZHU%RRVW
&HWWHIRQFWLRQGRQQHSOXVGHSXLVVDQFH
¢OD]RQHGHFXLVVRQ¢LQGXFWLRQ
DSSURSUL«HHQIRQFWLRQGHODWDLOOHGX
U«FLSLHQW/DIRQFWLRQSHXW¬WUHDFWLY«H
SRXUXQHGXU«HOLPLW«HXQLTXHPHQW
$SSX\H]G DERUGVXUOHV\PEROHGH
OD]RQHGHFXLVVRQVRXKDLW«H
$SSX\H]VXU RXIDLWHVJOLVVHU
YRWUHGRLJWVXUODGURLWHSRXUDFWLYHU
ODIRQFWLRQSRXUOD]RQHGHFXLVVRQ
V«OHFWLRQQ«H
/HV\PEROHGHYLHQWURXJHHWJURVVLW
/DIRQFWLRQVHG«VDFWLYH
DXWRPDWLTXHPHQW3RXUG«VDFWLYHUFHWWH
IRQFWLRQPDQXHOOHPHQWV«OHFWLRQQH]OD
]RQHHWPRGLILH]OHQLYHDXGHFXLVVRQ
3RXUFRQQD°WUHOHVYDOHXUV
GHGXU«HPD[LPDOHV
UHSRUWH]YRXVDXFKDSLWUH
m&DUDFW«ULVWLTXHV
WHFKQLTXHV}
*HVWLRQQDLUHGHSXLVVDQFH
ವ
ವ
ವ
'HV]RQHVGHFXLVVRQVRQW
UHJURXS«HVHQIRQFWLRQGH
O HPSODFHPHQWHWGXQRPEUHGH
SKDVHVGHODWDEOHGHFXLVVRQ
5HSRUWH]YRXV¢O LOOXVWUDWLRQ
&KDTXHSKDVHGLVSRVHG XQHFKDUJH
«OHFWULTXHPD[LPDOHGH:
/DIRQFWLRQU«SDUWLWODSXLVVDQFHHQWUH
OHV]RQHVGHFXLVVRQUDFFRUG«HV¢OD
P¬PHSKDVH
)RQFWLRQ%ULGJH
&HWWHIRQFWLRQFRXSOHGHX[]RQHVGH
FXLVVRQGHVRUWHTX HOOHVIRQFWLRQQHQW
FRPPHXQHVHXOHDYHFOHP¬PHQLYHDX
GHFXLVVRQ
9RXVSRXYH]XWLOLVHUODIRQFWLRQSRXUGH
JUDQGVU«FLSLHQWV
3RVH]XQU«FLSLHQWVXUGHX[]RQHV
GHFXLVVRQ/HU«FLSLHQWGRLWUHFRXYULU
OHFHQWUHGHVGHX[]RQHV
$SSX\H]VXU SRXUDFWLYHUOD
IRQFWLRQ/HV\PEROHGHOD]RQH
FKDQJH
5«JOH]OHQLYHDXGHFXLVVRQ
/HU«FLSLHQWGRLWUHFRXYULUOHFHQWUHGHV
GHX[]RQHVPDLVLOQHGRLWSDVG«SDVVHU
OHUHSªUHGHV]RQHV
ZZZHOHFWUROX[FRP
/RUVTXHODGXU«HV HVW«FRXO«HXQVLJQDO
VRQRUHUHWHQWLWHW
VXU
FOLJQRWH$SSX\H]
SRXUDUU¬WHUOHVLJQDOVRQRUH
3RXUG«VDFWLYHUFHWWHIRQFWLRQU«JOH]OH
QLYHDXGHFXLVVRQVXU9RXVSRXYH]
«JDOHPHQWDSSX\HUVXU
+STOP
¢JDXFKHGH
ODYDOHXUGXPLQXWHXUDSSX\H]VXU ¢
F¶W«SRXUFRQILUPHUYRWUHFKRL[
ORUVTX XQHIHQ¬WUHFRQWH[WXHOOHV DIILFKH
0LQXWHULHLQG«SHQGDQWH
9RXVSRXYH]XWLOLVHUFHWWHIRQFWLRQ
ORUVTXHODWDEOHGHFXLVVRQHVWDOOXP«H
PDLVTXHOHV]RQHVGHFXLVVRQVRQW
«WHLQWHV
3RXUG«VDFWLYHUODIRQFWLRQDSSX\H]VXU
ODWRXFKH /HV]RQHVGHFXLVVRQ
IRQFWLRQQHQWGHQRXYHDXGHPDQLªUH
LQG«SHQGDQWH
0LQXWHXU
+STOP
0LQXWHXUG«JUHVVLI
8WLOLVH]FHWWHIRQFWLRQSRXUU«JOHUOD
GXU«HGHIRQFWLRQQHPHQWG XQH]RQHGH
FXLVVRQXQLTXHPHQWSRXUXQHVHVVLRQ
9RXVSRXYH]U«JOHUFHWWHIRQFWLRQSRXU
FKDTXH]RQHGHFXLVVRQV«SDU«PHQW
6«OHFWLRQQH]G DERUGOHQLYHDXGH
FXLVVRQGHOD]RQHGHFXLVVRQSXLV
U«JOH]ODIRQFWLRQ
$SSX\H]VXUOHV\PEROHGHOD]RQH
GHFXLVVRQ
$SSX\H]VXU /DIHQ¬WUHGXPHQXGXPLQXWHXU
V DIILFKH
&RFKH]
6«OHFWLRQQHXQH]RQHGHFXLVVRQ
/HFXUVHXUFRUUHVSRQGDQWV DIILFKH
$SSX\H]VXU /DIHQ¬WUHGXPHQXGXPLQXWHXU
V DIILFKH
)DLWHVJOLVVHUYRWUHGRLJWYHUVOD
GURLWHRXODJDXFKHSRXUV«OHFWLRQQHU
ODGXU«HVRXKDLW«H SDUH[KHXUHVHW
PLQXWHV $SSX\H]VXU2.SRXUFRQILUPHUYRWUH
FKRL[
9RXVSRXYH]«JDOHPHQWFKRLVLU SRXU
DQQXOHUYRWUHV«OHFWLRQ
/RUVTXHODGXU«HV HVW«FRXO«HXQVLJQDO
VRQRUHUHWHQWLWHW
VXU
FOLJQRWH$SSX\H]
SRXUDUU¬WHUOHVLJQDOVRQRUH
3RXUG«VDFWLYHUODIRQFWLRQDSSX\H]VXU
¢JDXFKHGHODYDOHXUGXPLQXWHXU
SRXUDFWLYHUODIRQFWLRQ
/HVV\PEROHVFKDQJHQWHQ
)DLWHVJOLVVHUYRWUHGRLJWYHUVOD
GURLWHRXODJDXFKHSRXUV«OHFWLRQQHU
ODGXU«HVRXKDLW«H SDUH[KHXUHV
HWRXPLQXWHV $SSX\H]VXU2.SRXUFRQILUPHUYRWUH
FKRL[
+STOP
9RXVSRXYH]«JDOHPHQWFKRLVLU
DQQXOHUYRWUHV«OHFWLRQ
&HWWHIRQFWLRQHVWVDQVHIIHWVXUOH
IRQFWLRQQHPHQWGHV]RQHVGHFXLVVRQ
SRXU
DSSX\H]VXU ¢F¶W«SRXUFRQILUPHU
YRWUHFKRL[ORUVTX XQHIHQ¬WUH
FRQWH[WXHOOHV DIILFKH
6WRSZDWFK
/DIRQFWLRQG«PDUUHDXWRPDWLTXHPHQWOH
G«FRPSWHGªVTXHYRXVDFWLYH]XQH
]RQHGHFXLVVRQ&HWWHIRQFWLRQSHUPHW
GHVXUYHLOOHUODGXU«HGHIRQFWLRQQHPHQW
$SSX\H]VXUODWRXFKH
DFF«GHUDX0HQX
SRXU
)5$1‰$,6
)DLWHVG«ILOHUOH0HQXSRXU
V«OHFWLRQQHU5«JODJHV!6WRSZDWFK
$SSX\H]VXUOHV«OHFWHXUSRXU
DFWLYHUG«VDFWLYHUODIRQFWLRQ
DFFLGHQWHOOHGXU«JODJHGXQLYHDXGH
FXLVVRQ
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
$SSX\H]VXU SRXUDFWLYHUODIRQFWLRQ
3RXUG«VDFWLYHUODIRQFWLRQDSSX\H]VXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX /DIRQFWLRQQHV DUU¬WHSDVVLYRXV
VRXOHYH]OHU«FLSLHQW3RXUU«LQLWLDOLVHUOD
IRQFWLRQHWODUHODQFHUPDQXHOOHPHQW
DSSX\H]VXU V«OHFWLRQQH]5«LQLWLDOLVDWLRQGDQVOD
IHQ¬WUHFRQWH[WXHOOH/DIRQFWLRQ
FRPPHQFH¢FRPSWHU¢SDUWLUGH3RXU
PHWWUHODIRQFWLRQHQ3DXVHHQFRXUVGH
FXLVVRQDSSX\H]VXU HWV«OHFWLRQQH]
3DXVHGDQVODIHQ¬WUHFRQWH[WXHOOH
6«OHFWLRQQH]'«SDUWSRXUUHSUHQGUHOH
G«FRPSWH
3DXVH
&HWWHIRQFWLRQV«OHFWLRQQHOHQLYHDXGH
FXLVVRQOHSOXVEDVSRXUWRXWHVOHV]RQHV
GHFXLVVRQDFWLY«HV
/RUVTXHODIRQFWLRQHVWDFWLY«HVHXOVOHV
V\PEROHV HW SHXYHQW¬WUHXWLOLV«V
7RXVOHVDXWUHVV\PEROHVILJXUDQWVXUOH
EDQGHDXGHFRPPDQGHVRQWEORTX«V
/DIRQFWLRQQHG«VDFWLYHSDVOHV
IRQFWLRQVGXPLQXWHXU
$SSX\H]VXU
SRXUDFWLYHUODIRQFWLRQ
V DOOXPH/HQLYHDXGHFXLVVRQHVW
DEDLVV«¢
3RXUG«VDFWLYHUODIRQFWLRQDSSX\H]VXU
ODWRXFKH
/DIRQFWLRQV DUU¬WH3RZHU%RRVW/H
QLYHDXGHFXLVVRQOHSOXV«OHY«VH
U«DFWLYHORUVTXHYRXVDSSX\H]¢
QRXYHDXVXU
9HUURXLOODJH
9RXVSRXYH]YHUURXLOOHUOHEDQGHDXGH
FRPPDQGHSHQGDQWTXHOH
IRQFWLRQQHPHQWGHODWDEOHGHFXLVVRQ
9RXV«YLWHUH]DLQVLXQHPRGLILFDWLRQ
5«JOH]G DERUGOHQLYHDXGHFXLVVRQ
ODWRXFKH
SHQGDQWVHFRQGHV
/RUVTXHYRXV«WHLJQH]OD
WDEOHGHFXLVVRQFHWWH
IRQFWLRQHVW«JDOHPHQW
G«VDFWLY«H
6«FXULW«HQIDQWV
&HWWHIRQFWLRQSHUPHWG «YLWHUXQH
XWLOLVDWLRQLQYRORQWDLUHGHODWDEOHGH
FXLVVRQ
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH]5«JODJHV!6«FXULW«
HQIDQWVGDQVODOLVWH
7RXUQH]OHV«OHFWHXUVXU0DUFKH
$UU¬WHWDSSX\H]VXUOHVOHWWUHV$2;
GDQVO RUGUHDOSKDE«WLTXHSRXU
DFWLYHUODIRQFWLRQ$SSX\H]VXUOH
V«OHFWHXUSRXUG«VDFWLYHUODIRQFWLRQ
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX /DQJXH
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH]5«JODJHV!5«JODJHV!
/DQJXHGDQVODOLVWH
&KRLVLVVH]ODODQJXHVRXKDLW«HGDQV
ODOLVWH
6LYRXVDYH]FKRLVLODPDXYDLVHODQJXH
DSSX\H]VXU 'DQVODOLVWHTXL
DSSDUD°WV«OHFWLRQQH]ODWURLVLªPH
RSWLRQSXLVGHX[IRLVODGHUQLªUHRSWLRQ
3RXUILQLUV«OHFWLRQQH]O RSWLRQVXUOD
GURLWH
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX ZZZHOHFWUROX[FRP
7RQDOLW«WRXFKHV9ROXPH
DODUPH
9RXVSRXYH]FKRLVLUOHW\SHGHVRQVTXH
YRXVHQWHQGUH]HQIDLVDQWIRQFWLRQQHUOD
WDEOHGHFXLVVRQRXP¬PHOHV
G«VDFWLYHU9RXVSRXYH]FKRLVLUHQWUHXQ
FOLF SDUG«IDXW RXXQELS
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH]5«JODJHV!5«JODJHV!
7RQDOLW«WRXFKHV9ROXPHDODUPH
GDQVODOLVWH
&KRLVLVVH]O RSWLRQDSSURSUL«H
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX $IILFKDJHOXPLQRVLW«
9RXVSRXYH]PRGLILHUODOXPLQRVLW«GH
O DIILFKDJH
,O\DQLYHDX[GHOXPLQRVLW««WDQWOH
SOXVEDVHWOHSOXV«OHY«
3RXUFKDTXHW\SHG DOLPHQWV
SOXVLHXUVRSWLRQVVRQWSURSRV«HV
6XLYH]OHVLQVWUXFWLRQVTXLV DIILFKHQW
ವ 9RXVSRXYH]DSSX\HUVXU2.DX
KDXWGHODIHQ¬WUHFRQWH[WXHOOH
SRXUXWLOLVHUOHVU«JODJHVSDU
G«IDXW
ವ 9RXVSRXYH]U«JOHUODIRQFWLRQ
PLQXWHXU/RUVTXHOHU«FLSLHQW
DWWHLQWODWHPS«UDWXUHVRXKDLW«H
YRXVSRXYH]DFWLYHUOHPLQXWHXU
ವ 9RXVSRXYH]PRGLILHUOHQLYHDX
GHFXLVVRQSDUG«IDXW
'ªVTXHOHU«FLSLHQWDWWHLQWOD
WHPS«UDWXUHVRXKDLW«HXQVLJQDO
VRQRUHUHWHQWLWHWXQHIHQ¬WUH
FRQWH[WXHOOHV DIILFKH3RXUIHUPHUOD
IHQ¬WUHHWODQFHUODIRQFWLRQDSSX\H]
VXU2.3RXUG«VDFWLYHUODIHQ¬WUHGH
ID©RQSHUPDQHQWHFRFKH]
G DFWLYHUODIRQFWLRQ
DYDQW
3RXUDUU¬WHUODIRQFWLRQDSSX\H]VXU
HW$UU¬WHURXDSSX\H]VXU HW
V«OHFWLRQQH]&XLVVRQDVVLVW«H
FKRLVLVVH]XQW\SHG DOLPHQWHWDSSX\H]
VXU$UU¬WHU
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH]5«JODJHV!5«JODJHV!
$IILFKDJHOXPLQRVLW«GDQVODOLVWH
&KRLVLVVH]OHQLYHDXDSSURSUL«
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX &XLVVRQDVVLVW«H
/DIRQFWLRQDMXVWHODWHPS«UDWXUHVHORQ
GLII«UHQWVW\SHVG DOLPHQWVHWODPDLQWLHQW
WRXWDXORQJGHODFXLVVRQ(OOHQHSHXW
¬WUHDFWLY«HTXHSRXUOD]RQHGHFXLVVRQ
DYDQWJDXFKHRXSRXUOHVGHX[]RQHVGH
JDXFKHORUVTX HOOHVVRQWFRXSO«HV
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH]&XLVVRQDVVLVW«HHW
FKRLVLVVH]GDQVODOLVWHOHW\SH
G DOLPHQWTXHYRXVVRXKDLWH]
SU«SDUHU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX )RQGUH
9RXVSRXYH]XWLOLVHUFHWWHIRQFWLRQSRXU
IDLUHIRQGUHGLII«UHQWVSURGXLWVFRPPHGX
FKRFRODWRXGXEHXUUH9RXVQHSRXYH]
XWLOLVHUFHWWHIRQFWLRQTXHSRXUXQH]RQH
GHFXLVVRQSDUVHVVLRQGHFXLVVRQ
$SSX\H]VXU VXUO DIILFKDJHSRXU
RXYULUOH0HQX
6«OHFWLRQQH])RQFWLRQVWDEOHGH
FXLVVRQ!)RQGUHGDQVODOLVWH
$SSX\H]VXU'«SDUW
9RXVGHYH]V«OHFWLRQQHUOD]RQH
VRXKDLW«H
8QHIHQ¬WUHFRQWH[WXHOOHDSSDUD°W
YRXVGHPDQGDQWVLYRXVVRXKDLWH]
VXSSULPHUOHU«JODJHSU«F«GHQWOH
FDV«FK«DQW
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
)5$1‰$,6
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH3RXU
QDYLJXHUGDQVOH0HQXXWLOLVH] RX 3RXUDUU¬WHUODIRQFWLRQDSSX\H]VXUOH
V\PEROHGHV«OHFWLRQGH]RQHHW
DSSX\H]VXU$UU¬WHU
+REt+RRG
,OV DJLWG XQHIRQFWLRQDXWRPDWLTXHGH
SRLQWHSHUPHWWDQWGHUHOLHUODWDEOHGH
FXLVVRQ¢XQHKRWWHVS«FLDOH/DWDEOHGH
FXLVVRQHWODKRWWHGLVSRVHQWWRXWHVOHV
GHX[G XQFRPPXQLFDWHXUGHVLJQDO
LQIUDURXJH/DYLWHVVHGXYHQWLODWHXUHVW
G«ILQLHDXWRPDWLTXHPHQWHQVHEDVDQW
VXUOHU«JODJHGXPRGHHWGHOD
WHPS«UDWXUHGXU«FLSLHQWOHSOXVFKDXG
VHWURXYDQWVXUODWDEOHGHFXLVVRQ
6XUODSOXSDUWGHVKRWWHVOHV\VWªPHGH
FRPPDQGH¢GLVWDQFHHVWG«VDFWLY«SDU
G«IDXW$FWLYH]OHDYDQWG XWLOLVHUFHWWH
IRQFWLRQ3RXUSOXVG LQIRUPDWLRQV
UHSRUWH]YRXVDXPDQXHOG XWLOLVDWLRQGH
ODKRWWH
/DIRQFWLRQV DFWLYHDXWRPDWLTXHPHQW
HQWUHOHVPRGHV+HW+3DUG«IDXWOD
WDEOHGHFXLVVRQHVWU«JO«HVXU+/D
KRWWHU«DJLWGªVTXHYRXVDOOXPH]OD
WDEOHGHFXLVVRQ/DWDEOHGHFXLVVRQ
G«WHFWHDXWRPDWLTXHPHQWODWHPS«UDWXUH
GXU«FLSLHQWHWDMXVWHODYLWHVVHGX
YHQWLODWHXU9RXVSRXYH]U«JOHUODWDEOH
GHFXLVVRQSRXUQ DFWLYHUTXHO «FODLUDJH
HQV«OHFWLRQQDQWOHPRGH+
6LYRXVPRGLILH]ODYLWHVVH
GXYHQWLODWHXUVXUODKRWWHOD
FRQQH[LRQSDUG«IDXWDYHFOD
WDEOHGHFXLVVRQHVW
G«VDFWLY«H3RXUU«DFWLYHUOD
IRQFWLRQ«WHLJQH]SXLV
UDOOXPH]OHVGHX[DSSDUHLOV
‹FODL഻ )DLUH
UDJH ERXLOOLU
DXWR഻
PDWL഻
TXH
)DLUHIUL഻
UH
+
'«Vಣ '«VDFWLY«
DFWLY«
'«VDFWLY«
+
$FWLY« '«VDFWLY«
'«VDFWLY«
0R഻
GH
0R഻
GH
‹FODL഻ )DLUH
UDJH ERXLOOLU
DXWR഻
PDWL഻
TXH
)DLUHIUL഻
UH
+
$FWLY« 9LWHVVHGX
YHQWLODಣ
WHXU
9LWHVVHGX
YHQWLODಣ
WHXU
+
$FWLY« '«VDFWLY«
9LWHVVHGX
YHQWLODಣ
WHXU
+
$FWLY« 9LWHVVHGX
YHQWLODಣ
WHXU
9LWHVVHGX
YHQWLODಣ
WHXU
+
$FWLY« 9LWHVVHGX
YHQWLODಣ
WHXU
9LWHVVHGX
YHQWLODಣ
WHXU
+
$FWLY« 9LWHVVHGX
YHQWLODಣ
WHXU
9LWHVVHGX
YHQWLODಣ
WHXU
/DWDEOHGHFXLVVRQG«WHFWHOHSURFHVVXV
G «EXOOLWLRQHWV«OHFWLRQQHODYLWHVVHGXYHQಣ
WLODWHXUHQIRQFWLRQGXPRGHDXWRPDWLTXH
/DWDEOHGHFXLVVRQG«WHFWHOHSURFHVVXV
GHIULWXUHHWV«OHFWLRQQHODYLWHVVHGXYHQWLಣ
ODWHXUHQIRQFWLRQGXPRGHDXWRPDWLTXH
&HPRGHDFWLYHOHYHQWLODWHXUHWO «FODLUDಣ
JHVDQVWHQLUFRPSWHVXUODWHPS«UDWXUH
0RGLILFDWLRQGHVPRGHV
/HVPRGHVFKDQJHQWHWV DMXVWH
DXWRPDWLTXHPHQW6LOHQLYHDXVRQRUH
ODYLWHVVHGXYHQWLODWHXUQHVRQWSDV
VDWLVIDLVDQWVYRXVSRXYH]FKRLVLUXQ
DXWUHPRGHPDQXHOOHPHQW
$SSX\H]VXU 6«OHFWLRQQH]5«JODJHV!+REt+RRG
GDQVODOLVWH
&KRLVLVVH]OHPRGHDSSURSUL«
3RXUTXLWWHUOH0HQXDSSX\H]VXU RX
VXUODSDUWLHGURLWHGHO DIILFKDJHHQ
GHKRUVGHODIHQ¬WUHFRQWH[WXHOOH
/RUVTXHODFXLVVRQHVWWHUPLQ«HHWTXH
YRXVG«VDFWLYH]ODWDEOHGHFXLVVRQOH
YHQWLODWHXUGHODKRWWHSHXWFRQWLQXHUGH
IRQFWLRQQHUSHQGDQWXQFHUWDLQWHPSV$X
ZZZHOHFWUROX[FRP
ERXWG XQPRPHQWOHV\VWªPHG«VDFWLYH
DXWRPDWLTXHPHQWOHYHQWLODWHXUHWYRXV
HPS¬FKHGHO DFWLYHUDFFLGHQWHOOHPHQW
GXUDQWOHVVHFRQGHVTXLVXLYHQW
/ «FODLUDJHGHODKRWWHV «WHLQWPLQXWHV
DSUªVDYRLU«WHLQWODWDEOHGHFXLVVRQ
&216(,/6
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
SOXVSHWLWTXHOHGLDPªWUHPLQLPDO
UHFRPPDQG«QHUH©RLWTX XQHSHWLWH
SDUWLHGHODSXLVVDQFHJ«Q«U«HSDUOD
]RQHGHFXLVVRQ
5«FLSLHQWV
6XUOHV]RQHVGHFXLVVRQ¢
LQGXFWLRQXQFKDPS
«OHFWURPDJQ«WLTXHSXLVVDQW
FKDXIIHOHVU«FLSLHQWVWUªV
UDSLGHPHQW
8WLOLVH]GHVU«FLSLHQWV
DGDSW«VDX[]RQHVGH
FXLVVRQ¢LQGXFWLRQ
0DW«ULDX[GHVU«FLSLHQWV
ವ
DGDSW«VIRQWHDFLHUDFLHU«PDLOO«
DFLHULQR[\GDEOHIRQGPXOWLFRXFKH
KRPRORJX«SDUOHIDEULFDQW ವ LQDGDSW«VDOXPLQLXPFXLYUHODLWRQ
YHUUHF«UDPLTXHSRUFHODLQH
/HVSODWVGHFXLVVRQFRQYLHQQHQW
SRXUO LQGXFWLRQVL
ವ
ವ
XQHSHWLWHTXDQWLW«G HDXFRQWHQXH
GDQVXQU«FLSLHQWFKDXIIHGDQVXQ
EUHIODSVGHWHPSVVXUXQH]RQHGH
FXLVVRQU«JO«HVXUOHQLYHDXGH
FXLVVRQPD[LPDO
XQDLPDQWDGKªUHDXIRQGGX
U«FLSLHQW
/HIRQGGHO XVWHQVLOHGH
FXLVVRQGRLW¬WUHDXVVLSODW
HW«SDLVTXHSRVVLEOH
$VVXUH]YRXVTXHOHIRQGGX
U«FLSLHQWHVWSURSUHDYDQWGH
OHSODFHUVXUODVXUIDFHGHOD
WDEOHGHFXLVVRQ
'LPHQVLRQVGHO XVWHQVLOH
/HV]RQHVGHFXLVVRQ¢LQGXFWLRQ
V DGDSWHQWDXWRPDWLTXHPHQWDXGLDPªWUH
GXIRQGGXU«FLSLHQWXWLOLV«
/ HIILFDFLW«GHOD]RQHGHFXLVVRQHVWOL«H
DXGLDPªWUHGXU«FLSLHQW8QU«FLSLHQW
5HSRUWH]YRXVDXFKDSLWUH
m&DUDFW«ULVWLTXHV
WHFKQLTXHV}
%UXLWVSHQGDQWOH
IRQFWLRQQHPHQW
6LYRXVHQWHQGH]
ವ
XQFUDTXHPHQWOHU«FLSLHQWHVW
FRPSRV«GHGLII«UHQWVPDW«ULDX[
FRQFHSWLRQmVDQGZLFK} ವ XQVLIIOHPHQWYRXVXWLOLVH]XQH]RQH
GHFXLVVRQDYHFXQQLYHDXGH
SXLVVDQFH«OHY«HWOHU«FLSLHQWHVW
FRPSRV«GHGLII«UHQWVPDW«ULDX[
FRQFHSWLRQmVDQGZLFK} ವ XQERXUGRQQHPHQWYRXVXWLOLVH]XQ
QLYHDXGHSXLVVDQFH«OHY«
ವ XQFOLTXHWLVXQHFRPPXWDWLRQ
«OHFWULTXHVHSURGXLWOHU«FLSLHQWHVW
G«WHFW«DSUªVO DYRLUSODF«VXUODWDEOH
GHFXLVVRQ
ವ XQVLIIOHPHQWXQERXUGRQQHPHQWOH
YHQWLODWHXUIRQFWLRQQH
&HVEUXLWVVRQWQRUPDX[HW
Q LQGLTXHQWSDVXQHDQRPDOLHGH
O DSSDUHLO
˜NR7LPHU 0LQXWHXU«FR
3RXUU«DOLVHUGHV«FRQRPLHVG «QHUJLH
OD]RQHGHFXLVVRQVHG«VDFWLYH
DXWRPDWLTXHPHQWDYDQWOHVLJQDOGX
PLQXWHXU/DGLII«UHQFHGHWHPSVGH
IRQFWLRQQHPHQWG«SHQGGXQLYHDXHWGH
ODGXU«HGHFXLVVRQ
([HPSOHVGHFXLVVRQ
/HUDSSRUWHQWUHOHQLYHDXGHFXLVVRQHW
ODFRQVRPPDWLRQ«QHUJ«WLTXHGHOD]RQH
GHFXLVVRQQ HVWSDVOLQ«DLUH/RUVTXH
YRXVDXJPHQWH]OHQLYHDXGHFXLVVRQ
)5$1‰$,6
O DXJPHQWDWLRQ«QHUJ«WLTXHGHOD]RQHGH
FXLVVRQQ HVWSDVSURSRUWLRQQHOOH&HOD
VLJQLILHTXHOD]RQHGHFXLVVRQXWLOLV«H¢
XQQLYHDXGHFXLVVRQPR\HQXWLOLVH
PRLQVGHODPRLWL«GHVDSXLVVDQFH
/HVYDOHXUVILJXUDQWGDQVOH
WDEOHDXVXLYDQWVRQWIRXUQLHV
¢WLWUHLQGLFDWLI
1LYHDXGH
FXLVVRQ
8WLOLVDWLRQ
'XU«H
PLQ
&RQVHLOV
&RQVHUYH]OHVDOLPHQWVFXLWV
DXFKDXG
DXEHಣ
VRLQ
3ODFH]XQFRXYHUFOHVXUOH
U«FLSLHQW
6DXFHKROODQGDLVHIDLUHIRQಣ GUHEHXUUHFKRFRODWJ«ODWLಣ
QH
0«ODQJH]GHWHPSVHQ
WHPSV
6ROLGLILHURPHOHWWHVĕXIV
FRFRWWH
&RXYUH]SHQGDQWODFXLVVRQ
)DLUHPLMRWHUGHVSODWV¢EDಣ
VHGHUL]HWGHODLWDJHU«ಣ
FKDXIIHUGHVSODWVFXLVLQ«V
$MRXWH]DXPRLQVGHX[IRLV
SOXVGHOLTXLGHTXHGHUL]
P«ODQJH]OHVDOLPHQWV¢EDಣ
VHGHODLWDJH¢ODPRLWL«GX
WHPSVGHFXLVVRQ
&XLUH¢ODYDSHXUGHVO«JXಣ
PHVGXSRLVVRQHWGHOD
YLDQGH
$MRXWH]TXHOTXHVFXLOOªUHV¢
VRXSHGHOLTXLGH
&XLUHGHVSRPPHVGHWHUUH¢ ODYDSHXU
8WLOLVH]PD[~OG HDXSRXU
JGHSRPPHVGHWHUUH
&XLUHGHJUDQGHVTXDQWLW«V
G DOLPHQWVGHVUDJR½WVHW
GHVVRXSHV
DXEHಣ
)DLUHUHYHQLUHVFDORSHV
FRUGRQVEOHXVGHYHDXF¶WHಣ VRLQ
OHWWHVULVVROHWWHVVDXFLVVHV
IRLHURX[ĕXIVFU¬SHVEHLಣ
JQHWV
5HWRXUQH]¢ODPRLWL«GX
WHPSV
&XLVVRQ¢WHPS«UDWXUH«OHಣ
Y«HGHVSRPPHVGHWHUUHULVಣ
VRO«HVILOHWVVWHDNV
5HWRXUQH]¢ODPRLWL«GX
WHPSV
)DLUHERXLOOLUGHO HDXFXLUHGHVS¤WHVJULOOHUGHODYLDQGH JRXODVFK
EĕXIEUDLV« FXLUHGHVIULWHV
$MRXWH]MXVTX ¢OGHOLTXLಣ
GHSOXVOHVLQJU«GLHQWV
)DLUHERXLOOLUXQHJUDQGHTXDQWLW«G HDX/DIRQFWLRQ3RZHU%RRVWHVW
DFWLY«H
&RQVHLOVSRXU+REt+RRG
ವ
/RUVTXHYRXVIDLWHVIRQFWLRQQHUODWDEOH
GHFXLVVRQDYHFODIRQFWLRQ
ವ
3URW«JH]OHEDQGHDXGHFRPPDQGH
GHODKRWWHGHVUD\RQVGLUHFWVGX
VROHLO
1HGLULJH]SDVGHOXPLªUHKDORJªQH
VXUOHEDQGHDXGHFRPPDQGHGHOD
KRWWH
ZZZHOHFWUROX[FRP
ವ
1HUHFRXYUH]SDVOHEDQGHDXGH
FRPPDQGHGHODWDEOHGHFXLVVRQ
ವ 1HEORTXH]SDVOHVLJQDOHQWUHODWDEOH
GHFXLVVRQHWODKRWWH SDUH[HPSOH
DYHFODPDLQODSRLJQ«HG XQ
XVWHQVLOHRXXQJUDQGU«FLSLHQW 5HSRUWH]YRXV¢O LPDJH
/DKRWWHVXUO LOOXVWUDWLRQHVW
XQLTXHPHQWGRQQ«H¢WLWUHG H[HPSOH
9HLOOH]¢FHTXHODIHQ¬WUH
+REt+RRGGX
FRPPXQLFDWHXUGXVLJQDO
LQIUDURXJHUHVWHSURSUH
/HVDXWUHVDSSDUHLOV
W«O«FRPPDQG«VSHXYHQW
EORTXHUOHVLJQDO1 XWLOLVH]
SDVFHW\SHG DSSDUHLO¢
SUR[LPLW«GHODWDEOHGH
FXLVVRQORUVTXHODIRQFWLRQ
+REt+RRGHVWDFWLY«H
+RWWHVGRW«HVGHODIRQFWLRQ
+REt+RRG
3RXUWURXYHUODJDPPHFRPSOªWHGHV
KRWWHVGRW«HVGHFHWWHIRQFWLRQ
FRQVXOWH]QRWUHVLWHZHEGHVWLQ«DX[
FRQVRPPDWHXUV/HVKRWWHV(OHFWUROX[
TXLVRQWGRW«HVGHFHWWHIRQFWLRQGRLYHQW
SRUWHUOHV\PEROH (175(7,(1(71(772<$*(
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
,QIRUPDWLRQVJ«Q«UDOHV
ವ
ವ
ವ
ವ
ವ
1HWWR\H]ODWDEOHGHFXLVVRQDSUªV
FKDTXHXWLOLVDWLRQ
8WLOLVH]WRXMRXUVXQU«FLSLHQWGRQWOH
IRQGHVWSURSUH
/HVUD\XUHVRXOHVWDFKHVVRPEUHV
VXUODVXUIDFHQ RQWDXFXQHLQFLGHQFH
VXUOHIRQFWLRQQHPHQWGHODWDEOHGH
FXLVVRQ
8WLOLVH]XQQHWWR\DQWVS«FLDOHPHQW
DGDSW«¢ODVXUIDFHGHODWDEOHGH
FXLVVRQ
8WLOLVH]XQUDFORLUVS«FLDOSRXUODYLWUH
1HWWR\DJHGHODWDEOHGH
FXLVVRQ
ವ
(QOHYH]LPP«GLDWHPHQWOH
SODVWLTXHIRQGXOHVIHXLOOHVGH
SODVWLTXHOHVXFUHHWOHVDOLPHQWV
FRQWHQDQWGXVXFUHFDUODVDOHW«SHXW
HQGRPPDJHUODWDEOHGHFXLVVRQ
ವ
ವ
ವ
9HLOOH]¢QHSDVYRXVEU½OHU7HQH]OH
UDFORLUVS«FLDOLQFOLQ«VXUODVXUIDFH
YLWU«HHWIDLWHVJOLVVHUODODPHGX
UDFORLUSRXUHQOHYHUOHVVDOLVVXUHV
8QHIRLVTXHODWDEOHGHFXLVVRQD
VXIILVDPPHQWUHIURLGLHQOHYH]
WUDFHVGHFDOFDLUHHWG HDX
SURMHFWLRQVGHJUDLVVHG«FRORUDWLRQV
P«WDOOLTXHVOXLVDQWHV1HWWR\H]OD
WDEOHGHFXLVVRQ¢O DLGHG XQFKLIIRQ
KXPLGHHWG XQG«WHUJHQWQRQDEUDVLI
$SUªVOHQHWWR\DJHV«FKH]ODWDEOHGH
FXLVVRQ¢O DLGHG XQFKLIIRQGRX[
3RXUUHWLUHUOHVG«FRORUDWLRQV
P«WDOOLTXHVEULOODQWHVXWLOLVH]XQH
VROXWLRQG HDXDGGLWLRQQ«HGHYLQDLJUH
HWQHWWR\H]ODVXUIDFHYLWU«HDYHFXQ
FKLIIRQ
/DVXUIDFHGHODWDEOHGHFXLVVRQ
GLVSRVHGHUDLQXUHVKRUL]RQWDOHV
1HWWR\H]ODWDEOHGHFXLVVRQ¢O DLGH
G XQFKLIIRQKXPLGHHWG XQSHXGH
G«WHUJHQWHQHIIHFWXDQWGHV
PRXYHPHQWVGHJDXFKH¢GURLWH
$SUªVOHQHWWR\DJHV«FKH]ODWDEOHGH
FXLVVRQ¢O DLGHG XQFKLIIRQGRX[GH
JDXFKH¢GURLWH
)5$1‰$,6
'‹3$11$*(
$9(57,66(0(17
5HSRUWH]YRXVDX[FKDSLWUHV
FRQFHUQDQWODV«FXULW«
(QFDVG DQRPDOLHGHIRQFWLRQQHPHQW
3UREOªPH
&DXVHSUREDEOH
6ROXWLRQ
9RXVQHSRXYH]SDVDOOXಣ
PHUODWDEOHGHFXLVVRQQL
ODIDLUHIRQFWLRQQHU
9«ULILH]TXHODWDEOHGH
/DWDEOHGHFXLVVRQQ HVW
SDVFRQQHFW«H¢XQHVRXUಣ FXLVVRQHVWFRUUHFWHPHQW
FHG DOLPHQWDWLRQ«OHFWULTXH EUDQFK«H¢XQHVRXUFH
G DOLPHQWDWLRQ«OHFWULTXH
RXOHEUDQFKHPHQWHVWLQಣ
&RQVXOWH]OHVFK«PDGH
FRUUHFW
UDFFRUGHPHQW
/HIXVLEOHDGLVMRQFW«
9«ULILH]TXHOHIXVLEOHHVW
ELHQODFDXVHGHO DQRPDಣ
OLH6LOHVIXVLEOHVGLVMRQFಣ
WHQWGHPDQLªUHU«S«W«H
IDLWHVDSSHO¢XQ«OHFWULಣ
FLHQTXDOLIL«
9RXVQHU«JOH]SDVOHQLಣ
YHDXGHFXLVVRQGDQVOHV
VHFRQGHV
$OOXPH]GHQRXYHDXODWDಣ
EOHGHFXLVVRQHWU«JOH]OH
QLYHDXGHFXLVVRQHQ
PRLQVGHVHFRQGHV
9RXVDYH]DSSX\«VXUSOXಣ 1 DSSX\H]TXHVXUXQH
VHXOHWRXFKHVHQVLWLYH¢OD
VLHXUVWRXFKHVVHQVLWLYHV
IRLV
HQP¬PHWHPSV
3DXVHHVWDFWLY«H
5HSRUWH]YRXVDXFKDSLWUH
m8WLOLVDWLRQTXRWLGLHQQH}
/ DIILFKDJHQHU«DJLWSDV
DXWRXFKHU
8QHSDUWLHGHO DIILFKDJH
HVWUHFRXYHUWHRXOHVU«FLಣ
SLHQWVVRQWSODF«VWURS
SUªVGHO DIILFKDJH
'XOLTXLGHRXXQREMHWVH
WURXYHQWVXUO DIILFKDJH
5HWLUH]OHVREMHWVFRXYUDQW
O DIILFKDJH‹ORLJQH]OHVU«ಣ
FLSLHQWVGHO DIILFKDJH
$YDQWGHQHWWR\HUO DIILFKDಣ
JHDWWHQGH]TXHO DSSDUHLO
UHIURLGLVVH'«EUDQFKH]
O DSSDUHLOGHO DOLPHQWDWLRQ
«OHFWULTXH$XERXWG XQH
PLQXWHUHEUDQFKH]ODWDEOH
GHFXLVVRQ
5HWLUH]O REMHWGHVWRXFKHV
8QVLJQDOVRQRUHUHWHQWLWHW 9RXVDYH]SRV«TXHOTXH
ODWDEOHGHFXLVVRQV «WHLQW FKRVHVXUXQHRXSOXVLHXUV VHQVLWLYHV
WRXFKHVVHQVLWLYHV
8QVLJQDOVRQRUHUHWHQWLW
ORUVTXHODWDEOHGHFXLVVRQ
HVW«WHLQWH
ZZZHOHFWUROX[FRP
3UREOªPH
&DXVHSUREDEOH
6ROXWLRQ
/DWDEOHGHFXLVVRQ
V «WHLQW
9RXVDYH]SRV«TXHOTXH
FKRVHVXUODWRXFKHVHQVLಣ
5HWLUH]O REMHWGHODWRXFKH
VHQVLWLYH
WLYH
/HYR\DQWGHFKDOHXUU«VLಣ
GXHOOHQHV DOOXPHSDV
/D]RQHGHFXLVVRQQ HVW
SDVFKDXGHSDUFHTX HOOH
Q DIRQFWLRQQ«TXHSHXGH
WHPSVRXOHFDSWHXUHVW
HQGRPPDJ«
6LOD]RQHGHFXLVVRQDHX
DVVH]GHWHPSVSRXU
FKDXIIHUIDLWHVDSSHO¢YRಣ
WUHVHUYLFHDSUªVYHQWH
DJU««
,PSRVVLEOHG DFWLYHUOHQLಣ
YHDXGHFXLVVRQPD[LPDO
8QHDXWUH]RQHHVWG«M¢
U«JO«HVXUOHQLYHDXGH
FXLVVRQPD[LPDO
&RPPHQFH]SDUU«GXLUHOD
SXLVVDQFHGHO DXWUH]RQH
/HVWRXFKHVVHQVLWLYHV
VRQWFKDXGHV
/HU«FLSLHQWHVWWURSJUDQG
RXYRXVO DYH]SODF«WURS
SUªVGHVFRPPDQGHV
3ODFH]OHVU«FLSLHQWVGH
JUDQGHWDLOOHVXUOHV]RQHV
GHFXLVVRQDUULªUHVLSRVಣ
VLEOH
+REt+RRGQHIRQFWLRQQH
SDV
9RXVDYH]FRXYHUWOHEDQಣ
GHDXGHFRPPDQGH
5HWLUH]O REMHWGXEDQGHDX
GHFRPPDQGH
+REt+RRGHVWDFWLY«PDLV
VHXOHODOXPLªUHV DOOXPH
9RXVDYH]DFWLY«OHPRGH
+
&KRLVLVVH]XQPRGHHQWUH
+HW+RXDWWHQGH]TXH
OHPRGHDXWRPDWLTXHG«ಣ
PDUUH
/HVPRGHV+REt+RRG+
¢+VRQWDFWLY«VPDLV
O «FODLUDJHHVW«WHLQW
,OSHXW\DYRLUXQSUREOªPH
DYHFO DPSRXOH
)DLWHVDSSHO¢XQVHUYLFH
DSUªVYHQWHDJU««
$XFXQVLJQDOVRQRUHQHVH /HVVLJQDX[VRQRUHVVRQW
IDLWHQWHQGUHORUVTXHYRXV G«VDFWLY«V
DSSX\H]VXUOHVWRXFKHV
VHQVLWLYHVGXEDQGHDX
$FWLYH]OHVVLJQDX[VRQRಣ
UHV5HSRUWH]YRXVDXFKDಣ
SLWUHm8WLOLVDWLRQTXRWLGLHQಣ
QH}
9RXVDYH]V«OHFWLRQQ«OD
PDXYDLVHODQJXH
9RXVDYH]PRGLIL«ODODQಣ
JXHSDUHUUHXU
5«LQLWLDOLVH]WRXWHVOHV
IRQFWLRQVDX[U«JODJHV
G XVLQH6«OHFWLRQQH]5«LQಣ
LWLDOLVHUOHVU«JODJHVGDQV
OH0HQX
'«EUDQFKH]O DSSDUHLOGH
O DOLPHQWDWLRQ«OHFWULTXH
$XERXWG XQHPLQXWHUHಣ
EUDQFKH]ODWDEOHGHFXLVಣ
VRQ/DQJXH$IILFKDJHOXಣ
PLQRVLW«HW9ROXPHDODUPH
/D]RQHGHFXLVVRQVH
$UU¬WDXWRPDWLTXHG«VDFWLಣ
G«VDFWLYH
YHOD]RQHGHFXLVVRQ
8QPHVVDJHG DYHUWLVVHಣ
PHQWLQGLTXDQWTXHOD]RQH
GHFXLVVRQYDVHG«VDFWLಣ
YHUV DIILFKH
5HSRUWH]YRXVDXFKDSLWUH
m8WLOLVDWLRQTXRWLGLHQQH}
‹WHLJQH]ODWDEOHGHFXLVಣ
VRQSXLVDOOXPH]ODGH
QRXYHDX
)5$1‰$,6
3UREOªPH
&DXVHSUREDEOH
6ROXWLRQ
HWXQPHVVDJHV DIILಣ
FKHQW
9HUURXLOODJHHVWDFWLY«H
5HSRUWH]YRXVDXFKDSLWUH
m8WLOLVDWLRQTXRWLGLHQQH}
2;$V DIILFKH
6«FXULW«HQIDQWVHVWDFWLಣ
Y«H
5HSRUWH]YRXVDXFKDSLWUH
m8WLOLVDWLRQTXRWLGLHQQH}
FOLJQRWH
,OQ \DSDVGHU«FLSLHQWVXU 3ODFH]XQU«FLSLHQWVXUOD
OD]RQHGHFXLVVRQ
]RQHGHFXLVVRQ
/HU«FLSLHQWQ HVWSDV
DGDSW«
8WLOLVH]GHVU«FLSLHQWV
DGDSW«V5HSRUWH]YRXVDX
FKDSLWUHm&RQVHLOV}
/HGLDPªWUHGXIRQGGXU«ಣ
FLSLHQWGHFXLVVRQHVWWURS
SHWLWSRXUOD]RQHGHFXLVಣ
VRQ
8WLOLVH]XQU«FLSLHQWGHGLಣ
PHQVLRQVDSSURSUL«HV5Hಣ
SRUWH]YRXVDXFKDSLWUH
m&DUDFW«ULVWLTXHVWHFKQLಣ
TXHV}
8QHHUUHXUV HVWSURGXLWH
GDQVODWDEOHGHFXLVVRQ
‹WHLJQH]ODWDEOHGHFXLVಣ
VRQHWUDOOXPH]ODDXERXW
HWXQFKLIIUHV DIILFKHQW
GHVHFRQGHV6L V DIಣ
ILFKH¢QRXYHDXG«EUDQಣ
FKH]ODWDEOHGHFXLVVRQGH
ODSULVH«OHFWULTXH$XERXW
GHVHFRQGHVUHEUDQಣ
FKH]ODWDEOHGHFXLVVRQ
6LOHSUREOªPHSHUVLVWH
FRQWDFWH]OHVHUYLFHDSUªV
YHQWHDJU««
8QELSFRQVWDQWVHG«FOHQಣ /HEUDQFKHPHQW«OHFWULTXH '«EUDQFKH]O DSSDUHLOGH
FKH
Q HVWSDVDGDSW«
O DOLPHQWDWLRQ«OHFWULTXH
'HPDQGH]¢XQ«OHFWULFLHQ
TXDOLIL«GHY«ULILHUO LQVWDOODಣ
WLRQ
6LYRXVQHWURXYH]SDVGH
VROXWLRQ
6LYRXVQHWURXYH]SDVGHVROXWLRQDX
SUREOªPHYHXLOOH]FRQWDFWHUYRWUH
UHYHQGHXURXXQVHUYLFHDSUªVYHQWH
DJU««9HXLOOH]OXLIRXUQLUOHVLQIRUPDWLRQV
VHWURXYDQWVXUODSODTXHVLJQDO«WLTXH
$VVXUH]YRXVG XWLOLVHUFRUUHFWHPHQW
O DSSDUHLO(QFDVG HUUHXUGH
PDQLSXODWLRQGHODSDUWGHO XWLOLVDWHXUOH
G«SODFHPHQWGXWHFKQLFLHQGXVHUYLFH
DSUªVYHQWHRXGXYHQGHXUSRXUUD¬WUH
IDFWXU«P¬PHHQFRXUVGHJDUDQWLH/HV
LQVWUXFWLRQVUHODWLYHVDXVHUYLFHDSUªV
YHQWHHWDX[FRQGLWLRQVGHJDUDQWLH
ILJXUHQWGDQVOHOLYUHWGHJDUDQWLH
&$5$&7‹5,67,48(67(&+1,48(6
3ODTXHVLJQDO«WLTXH
0RGªOH(,6
31&
ZZZHOHFWUROX[FRP
7\SH'$&$
,QGXFWLRQN:
1XP«URGHV«ULH
(/(&752/8;
991+]
)DEULTX«HQ$OOHPDJQH
N:
/LFHQVHVGXORJLFLHO
/HORJLFLHOLQFOXVGDQVFHWWHWDEOHGH
FXLVVRQFRQWLHQWXQORJLFLHOSURW«J«SDU
FRS\ULJKWVRXVOLFHQFHGH%6'
IRQWFRQILJ)7/*3//*3/
/*3/OLE-SHJ]/LEOLESQJ0,7
2SHQ66/66/($<,6&$SDFKHHW
DXWUHV
&RQVXOWH]ODFRSLHFRPSOªWHGHOD
OLFHQVHGDQV0HQX!5«JODJHV!
0DLQWHQDQFH!/LFHQFH
9RXVSRXYH]W«O«FKDUJHUOHFRGHVRXUFH
GXORJLFLHOHQRSHQVRXUFHHQVXLYDQWOH
OLHQK\SHUWH[WHLQGLTX«VXUODSDJH
,QWHUQHWGXSURGXLW
&DUDFW«ULVWLTXHVGHV]RQHVGHFXLVVRQ
=RQHGHFXLV഻
VRQ
3XLVVDQFHQR഻ 3RZHU഻
%RRVW>:@
PLQDOH QL഻
YHDXGHFXLV഻
VRQPD[ >:@
3RZHU%RRVW
GXU«HPD[L഻
PDOH>PLQ@
'LDPªWUHGX
U«FLSLHQW>PP@
$YDQWJDXFKH
$UULªUHJDXFKH
$YDQWFHQWUDOH
$UULªUHGURLWH
/DSXLVVDQFHGHV]RQHVGHFXLVVRQSHXW
O«JªUHPHQWGLII«UHUGHVGRQQ«HVGX
WDEOHDX(OOHG«SHQGGHODPDWLªUHHWGHV
GLPHQVLRQVGXU«FLSLHQW
3RXUGHVU«VXOWDWVGHFXLVVRQRSWLPDX[
XWLOLVH]GHVU«FLSLHQWVTXLQHG«SDVVHQW
SDVOHVGLDPªWUHVLQGLTX«VGDQVOH
WDEOHDX
5(1'(0(17‹1(5*‹7,48(
,QIRUPDWLRQVVXUOHSURGXLWFRQIRUP«PHQW¢ODQRUPH(8
YDODEOHSRXUOHPDUFK«HXURS«HQXQLTXHPHQW
,GHQWLILFDWLRQGXPRGªOH
(,6
7\SHGHWDEOHGHFXLVVRQ
7DEOHGHFXLVVRQ
LQW«JU«H
1RPEUHGH]RQHVGH
FXLVVRQ
7HFKQRORJLHGHFKDXIIDJH ,QGXFWLRQ
)5$1‰$,6
'LDPªWUHGHV]RQHVGH
FXLVVRQFLUFXODLUHV š
$YDQWJDXFKH
$UULªUHJDXFKH
$YDQWFHQWUDOH
$UULªUHGURLWH
FP
FP
FP
FP
&RQVRPPDWLRQG «QHUJLH
VHORQOD]RQHGHFXLVVRQ
(&HOHFWULFFRRNLQJ
$YDQWJDXFKH
$UULªUHJDXFKH
$YDQWFHQWUDOH
$UULªUHGURLWH
:KNJ
:KNJ
:KNJ
:KNJ
&RQVRPPDWLRQG «QHUJLH
GHODWDEOHGHFXLVVRQ
(&HOHFWULFKRE
:KNJ
(1$SSDUHLOVGHFXLVVRQ
GRPHVWLTXHV«OHFWULTXHV3DUWLH
7DEOHVGHFXLVVRQ0«WKRGHVGH
PHVXUHGHVSHUIRUPDQFHV
/HVPHVXUHVG «QHUJLHVHUDSSRUWDQW¢OD
]RQHGHFXLVVRQVRQWLGHQWLIL«HVSDUOHV
UHSªUHVGHV]RQHVGHFXLVVRQ
FRUUHVSRQGDQWHV
‹FRQRPLHG «QHUJLH
9RXVSRXYH]«FRQRPLVHUGHO «QHUJLHDX
TXRWLGLHQHQVXLYDQWOHVFRQVHLOV
VXLYDQWV
ವ
ವ
ವ
ವ
ವ
ವ
6LSRVVLEOHFRXYUH]WRXMRXUVOHV
U«FLSLHQWVGHFXLVVRQDYHFXQ
FRXYHUFOHSHQGDQWODFXLVVRQ
$FWLYH]WRXMRXUVOD]RQHGHFXLVVRQ
DSUªVDYRLUSRV«OHU«FLSLHQWGHVVXV
3ODFH]OHVSOXVSHWLWVU«FLSLHQWVVXU
OHVSOXVSHWLWHV]RQHVGHFXLVVRQ
3RVH]GLUHFWHPHQWOHU«FLSLHQWDX
FHQWUHGHOD]RQHGHFXLVVRQ
9RXVSRXYH]XWLOLVHUODFKDOHXU
U«VLGXHOOHSRXUFRQVHUYHUOHVDOLPHQWV
DXFKDXGRXSRXUIDLUHIRQGUH
6LYRXVIDLWHVFKDXIIHUGHO HDXQH
IDLWHVFKDXIIHUTXHODTXDQWLW«GRQW
YRXVDYH]U«HOOHPHQWEHVRLQ
(10$7,Š5('(3527(&7,21'(
/ (19,5211(0(17
5HF\FOH]OHVPDW«ULDX[SRUWDQWOH
«OHFWURQLTXHV1HMHWH]SDVOHVDSSDUHLOV
V\PEROH '«SRVH]OHVHPEDOODJHV
GDQVOHVFRQWHQHXUVSU«YXV¢FHWHIIHW
&RQWULEXH]¢ODSURWHFWLRQGH
O HQYLURQQHPHQWHW¢YRWUHV«FXULW«
UHF\FOH]YRVSURGXLWV«OHFWULTXHVHW
SRUWDQWOHV\PEROH DYHFOHVRUGXUHV
P«QDJªUHV(PPHQH]XQWHOSURGXLW
GDQVYRWUHFHQWUHORFDOGHUHF\FODJHRX
FRQWDFWH]YRVVHUYLFHVPXQLFLSDX[
ZZZHOHFWUROX[FRP
)5$1‰$,6
$
electrolux.com/shop
">