Novamatic EK617.2R Manuel utilisateur
Vous trouverez ci-dessous de brèves informations pour NOVAMATIC EK 617.2 R, NOVAMATIC EK 617.2 L. Ce manuel vous guide à travers l'installation, l'utilisation quotidienne, l'entretien et le dépannage de votre réfrigérateur intégré. Découvrez comment optimiser le rangement de vos aliments, régler la température idéale, assurer la sécurité des enfants et maintenir votre appareil en parfait état de fonctionnement.
PDF
Télécharger
Document
(.5
(./
1RWLFHG XWLOLVDWLRQ
,VWUX]LRQLSHUOಬXVR
5«IULJ«UDWHXU
Réfrigérateur
intégré
)ULJRULIHUR
Frigorifero
incorporato
2
7$%/('(60$7,5(6
,QIRUPDWLRQVGHV«FXULW«
&RQVLJQHVGHV«FXULW«
,QVWDOODWLRQ
%DQGHDXGHFRPPDQGH
8WLOLVDWLRQTXRWLGLHQQH
&RQVHLOV
(QWUHWLHQHWQHWWR\DJH
'«SDQQDJH
%UXLWV
'RQQ«HVWHFKQLTXHV
,QIRUPDWLRQVSRXUOHVLQVWLWXWVGHWHVW
6RXVU«VHUYHGHPRGLILFDWLRQV
9,6,7(=1275(6,7(:(%3285
2EWHQLUGHVFRQVHLOVGಬXWLOLVDWLRQGHVEURFKXUHVXQG«SDQQHXUGHV
LQIRUPDWLRQVVXUOHVHUYLFHHWOHVU«SDUDWLRQV
KWWSVZZZIXVWFKUHSDUDWXU
,1)250$7,216'(6&85,7
$YDQWG LQVWDOOHUHWG XWLOLVHUFHWDSSDUHLOOLVH]
VRLJQHXVHPHQWOHVLQVWUXFWLRQVIRXUQLHV/HIDEULFDQWQH
SRXUUD¬WUHWHQXSRXUUHVSRQVDEOHGHVEOHVVXUHVHWG«J¤WV
U«VXOWDQWG XQHPDXYDLVHLQVWDOODWLRQRXXWLOLVDWLRQ
&RQVHUYH]WRXMRXUVOHVLQVWUXFWLRQVGDQVXQOLHXV½UHW
DFFHVVLEOHSRXUYRXV\U«I«UHUXOW«ULHXUHPHQW
6«FXULW«GHVHQIDQWVHWGHVSHUVRQQHVYXOQ«UDEOHV
ವ
ವ
ವ
ವ
&HWDSSDUHLOSHXW¬WUHXWLOLV«SDUGHVHQIDQWV¤J«VG DX
PRLQVDQVHWSDUGHVSHUVRQQHVD\DQWGHVFDSDFLW«V
SK\VLTXHVVHQVRULHOOHVRXPHQWDOHVU«GXLWHVRXG«QX«HV
GಬH[S«ULHQFHRXGHFRQQDLVVDQFHV LOVVRQWFRUUHFWHPHQW
VXUYHLOO«VRXVLGHVLQVWUXFWLRQVUHODWLYHV¢O XWLOLVDWLRQGH
O DSSDUHLOHQWRXWHV«FXULW«OHXURQW«W«GRQQ«HVHWVಬLOV
FRPSUHQQHQWOHVULVTXHVHQFRXUXV
/HVHQIDQWVGH¢DQVSHXYHQWFKDUJHUHWG«FKDUJHU
OಬDSSDUHLO¢FRQGLWLRQTXಬLOVDLHQWUH©XGHVLQVWUXFWLRQV
DSSURSUL«HV
&HWDSSDUHLOSHXW¬WUHXWLOLV«SDUGHVSHUVRQQHVVRXIIUDQW
GHKDQGLFDSVWUªVLPSRUWDQWVHWFRPSOH[HV¢FRQGLWLRQV
TXಬHOOHVDLHQWUH©XGHVLQVWUXFWLRQVDSSURSUL«HV
/HVHQIDQWVGHPRLQVGHDQVGRLYHQW¬WUHWHQXV¢O «FDUW
GHO DSSDUHLO¢PRLQVG ¬WUHVXUYHLOO«VHQSHUPDQHQFH
3
ವ
ವ
ವ
1HODLVVH]SDVOHVHQIDQWVMRXHUDYHFO DSSDUHLO
/HQHWWR\DJHHWO HQWUHWLHQQHGRLYHQWSDV¬WUHHIIHFWX«V
SDUGHVHQIDQWVVDQVVXUYHLOODQFH
1HODLVVH]SDVOHVHPEDOODJHV¢ODSRUW«HGHVHQIDQWVHW
MHWH]OHVFRQYHQDEOHPHQW
6«FXULW«J«Q«UDOH
ವ
ವ
ವ
ವ
ವ
ವ
&HWDSSDUHLOHVWFRQ©XSRXUXQXVDJHGRPHVWLTXHHWGHV
DSSOLFDWLRQV«TXLYDOHQWHVQRWDPPHQW
ದ E¤WLPHQWVGHIHUPHFXLVLQHVU«VHUY«HVDX[HPSOR\«V
GDQVOHVPDJDVLQVEXUHDX[HWDXWUHVOLHX[GHWUDYDLO
ದ O XWLOLVDWLRQSDUOHVFOLHQWVGHVK¶WHOVPRWHOVGHV
HQYLURQQHPHQWVGXW\SHFKDPEUHVGಬK¶WHVHWDXWUHV
HQYLURQQHPHQWV¢FDUDFWªUHU«VLGHQWLHO
3RXU«YLWHUODFRQWDPLQDWLRQGHVDOLPHQWVUHVSHFWH]OHV
LQVWUXFWLRQVVXLYDQWHV
ದ QಬRXYUH]SDVODSRUWHSHQGDQWGHORQJXHVGXU«HV
ದ QHWWR\H]U«JXOLªUHPHQWOHVVXUIDFHVSRXYDQW¬WUHHQ
FRQWDFWDYHFOHVDOLPHQWVHWOHVV\VWªPHVGಬ«YDFXDWLRQ
DFFHVVLEOHV
ದ FRQVHUYH]ODYLDQGHHWOHSRLVVRQFUXVGDQVGHV
U«FLSLHQWVDSSURSUL«VGDQVOHU«IULJ«UDWHXUDILQTXಬLOVQH
VRLHQWSDVHQFRQWDFWRXQHFRXOHQWSDVVXUGಬDXWUHV
DOLPHQWV
$9(57,66(0(179HLOOH]¢FHTXHOHVRULILFHVGH
YHQWLODWLRQVLWX«VGDQVO HQFHLQWHGHO DSSDUHLORXGDQVOD
VWUXFWXUHLQW«JU«HQHVRLHQWSDVREVWUX«V
$9(57,66(0(171ಬXWLOLVH]DXFXQGLVSRVLWLIP«FDQLTXH
RXDXWUHPR\HQSRXUDFF«O«UHUOHSURFHVVXVGHG«JLYUDJH
KRUPLVFHX[UHFRPPDQG«VSDUOHIDEULFDQW
$9(57,66(0(171 HQGRPPDJH]SDVOHFLUFXLWGH
U«IULJ«UDWLRQ
$9(57,66(0(171 XWLOLVH]SDVG DSSDUHLOV«OHFWULTXHV
¢O LQW«ULHXUGHVFRPSDUWLPHQWVGHFRQVHUYDWLRQGHV
DOLPHQWVGHO DSSDUHLOVDXIV LOVVRQWGXW\SHUHFRPPDQG«
SDUOHIDEULFDQW
4
ವ
ವ
ವ
ವ
ವ
1HSXOY«ULVH]SDVG HDXQLGHYDSHXUSRXUQHWWR\HU
O DSSDUHLO
1HWWR\H]O DSSDUHLODYHFXQFKLIIRQGRX[KXPLGH8WLOLVH]
XQLTXHPHQWGHVG«WHUJHQWVQHXWUHV1 XWLOLVH]SDVGH
SURGXLWVDEUDVLIVGHWDPSRQV¢U«FXUHUGHVROYDQWVQL
G REMHWVP«WDOOLTXHV
6LOಬDSSDUHLOHVWYLGHSHQGDQWXQHORQJXHGXU«H«WHLJQH]
OHG«JLYUH]OHQHWWR\H]OHV«FKH]OHHWODLVVH]ODSRUWH
RXYHUWHSRXUHPS¬FKHUOHG«YHORSSHPHQWGHPRLVLVVXUH
GDQVOಬDSSDUHLO
1HFRQVHUYH]SDVGHVXEVWDQFHVH[SORVLYHVGDQVFHW
DSSDUHLOWHOOHVTXHGHVD«URVROVFRQWHQDQWXQJD]
SURSXOVHXULQIODPPDEOH
6LOHF¤EOHG DOLPHQWDWLRQHVWHQGRPPDJ«LOGRLW¬WUH
UHPSODF«SDUOHIDEULFDQWVRQVHUYLFHDSUªVYHQWHDJU««
RXGHVSHUVRQQHVDX[TXDOLILFDWLRQVVLPLODLUHVDILQG «YLWHU
WRXWGDQJHU
&216,*1(6'(6&85,7
,QVWDOODWLRQ
$9(57,66(0(17/ DSSDUHLO
GRLW¬WUHLQVWDOO«XQLTXHPHQW
SDUXQSURIHVVLRQQHOTXDOLIL«
ವ 5HWLUH]O LQW«JUDOLW«GHO HPEDOODJH
ವ 1 LQVWDOOH]SDVHWQHEUDQFKH]SDVXQ
DSSDUHLOHQGRPPDJ«
ವ 3RXUGHVUDLVRQVGHV«FXULW«Q XWLOLVH]
SDVO DSSDUHLODYDQWGHO DYRLULQVWDOO«
GDQVODVWUXFWXUHHQFDVWU«H
ವ 6XLYH]VFUXSXOHXVHPHQWOHV
LQVWUXFWLRQVG LQVWDOODWLRQIRXUQLHVDYHF
O DSSDUHLO
ವ 6R\H]WRXMRXUVYLJLODQWVORUVTXHYRXV
G«SODFH]O DSSDUHLOFDULOHVWORXUG
8WLOLVH]WRXMRXUVGHVJDQWVGHV«FXULW«
HWGHVFKDXVVXUHVIHUP«HV
ವ $VVXUH]YRXVTXHO DLUFLUFXOHDXWRXUGH
O DSSDUHLO
ವ /RUVGHODSUHPLªUHLQVWDOODWLRQRX
DSUªVDYRLULQYHUV«ODSRUWHDWWHQGH]
DXPRLQVKHXUHVDYDQWGHEUDQFKHU
ವ
ವ
ವ
ವ
ವ
ವ
O DSSDUHLOVXUOHVHFWHXU&HODSHUPHW¢
O KXLOHGHUHIRXOHUGDQVOHFRPSUHVVHXU
$YDQWWRXWHRS«UDWLRQVXUO DSSDUHLO SDU
H[LQYHUVLRQGHODSRUWH G«EUDQFKH]
ODILFKHGHODSULVHGHFRXUDQW
1 LQVWDOOH]SDVO DSSDUHLO¢SUR[LPLW«
G XQUDGLDWHXUG XQHFXLVLQLªUHG XQ
IRXURXG XQHWDEOHGHFXLVVRQ
1 H[SRVH]SDVO DSSDUHLO¢ODSOXLH
1 LQVWDOOH]SDVO DSSDUHLOGDQVXQ
HQGURLWH[SRV«¢ODOXPLªUHGLUHFWHGX
VROHLO
1 LQVWDOOH]SDVO DSSDUHLOGDQVXQH
SLªFHWURSKXPLGHRXWURSIURLGH
/RUVTXHYRXVG«SODFH]O DSSDUHLO
YHLOOH]¢OHVRXOHYHUSDUO DYDQWSRXU
«YLWHUGHUD\HUOHVRO
%UDQFKHPHQW«OHFWULTXH
$9(57,66(0(175LVTXH
G LQFHQGLHRXG «OHFWURFXWLRQ
5
$9(57,66(0(17/RUVTXH
YRXVLQVWDOOH]O DSSDUHLO
DVVXUH]YRXVTXHOHF¤EOH
G DOLPHQWDWLRQQ HVWSDVFRLQF«
RXHQGRPPDJ«
$9(57,66(0(171 XWLOLVH]
SDVG DGDSWDWHXUVPXOWLSULVHVQL
GHUDOORQJHV
ವ /ಬDSSDUHLOGRLW¬WUHUHOL«¢ODWHUUH
ವ $VVXUH]YRXVTXHOHVSDUDPªWUHV
ILJXUDQWVXUODSODTXHVLJQDO«WLTXH
FRUUHVSRQGHQWDX[GRQQ«HV«OHFWULTXHV
QRPLQDOHGHOಬDOLPHQWDWLRQVHFWHXU
ವ 8WLOLVH]WRXMRXUVXQHSULVHGHFRXUDQW
GHV«FXULW«FRUUHFWHPHQWLQVWDOO«H
ವ 9HLOOH]¢QHSDVHQGRPPDJHUOHV
FRPSRVDQWV«OHFWULTXHVWHOVTXHOD
ILFKHVHFWHXUOHF¤EOHG DOLPHQWDWLRQRX
OHFRPSUHVVHXU&RQWDFWH]OHVHUYLFH
DSUªVYHQWHDJU««RXXQ«OHFWULFLHQ
SRXUFKDQJHUOHVFRPSRVDQWV
«OHFWULTXHV
ವ /HF¤EOHG DOLPHQWDWLRQGRLWUHVWHUHQ
GHVVRXVGXQLYHDXGHODILFKHVHFWHXU
ವ 1HEUDQFKH]ODILFKHVHFWHXUGDQVOD
SULVHVHFWHXUTX ¢ODILQGHO LQVWDOODWLRQ
$VVXUH]YRXVTXHODSULVHVHFWHXUHVW
DFFHVVLEOHDSUªVO LQVWDOODWLRQ
ವ 1HWLUH]SDVVXUOHF¤EOHVHFWHXUSRXU
G«EUDQFKHUO DSSDUHLO7LUH]WRXMRXUVVXU
ODILFKHGHODSULVHVHFWHXU
8WLOLVDWLRQ
$9(57,66(0(175LVTXHGH
EOHVVXUHVGHEU½OXUHV
G «OHFWURFXWLRQRXG LQFHQGLH
/ DSSDUHLOFRQWLHQWXQJD]
LQIODPPDEOHO LVREXWDQH 5D XQJD]
QDWXUHOD\DQWXQQLYHDX«OHY«GH
FRPSDWLELOLW«HQYLURQQHPHQWDOH9HLOOH]¢
QHSDVHQGRPPDJHUOHFLUFXLWIULJRULILTXH
FRQWHQDQWGHO LVREXWDQH
ವ 1HPRGLILH]SDVOHVFDUDFW«ULVWLTXHVGH
FHWDSSDUHLO
ವ 1HSODFH]DXFXQDSSDUHLO«OHFWULTXH
VRUEHWLªUHHWF GDQVO DSSDUHLOHQ
O DEVHQFHG LQGLFDWLRQVGXIDEULFDQW
ವ 6LOHFLUFXLWIULJRULILTXHHVWHQGRPPDJ«
DVVXUH]YRXVGHO DEVHQFHGHIODPPHV
HWGHVRXUFHVG LJQLWLRQGDQVODSLªFH
$«UH]ODSLªFH
ವ YLWH]WRXWFRQWDFWG «O«PHQWVFKDXGV
DYHFOHVSDUWLHVHQSODVWLTXHGH
O DSSDUHLO
ವ 1HSODFH]MDPDLVGHERLVVRQV
JD]HXVHVGDQVOHFRQJ«ODWHXU&HOD
HQJHQGUHUDLWXQHSUHVVLRQVXUOH
U«FLSLHQWGHODERLVVRQ
ವ 1HVWRFNH]MDPDLVGHJD]RXGHOLTXLGH
LQIODPPDEOHGDQVO DSSDUHLO
ವ 1HSODFH]SDVGHSURGXLWV
LQIODPPDEOHVRXG «O«PHQWVLPELE«VGH
SURGXLWVLQIODPPDEOHV¢O LQW«ULHXURX¢
SUR[LPLW«GHO DSSDUHLOQLVXUFHOXLFL
ವ 1HWRXFKH]SDVOHFRPSUHVVHXUQLOH
FRQGHQVHXU,OVVRQWFKDXGV
ವ 1HUHWLUH]SDVHWQHWRXFKH]SDVOHV
«O«PHQWVGXFRPSDUWLPHQWFRQJ«ODWHXU
DYHFOHVPDLQVPRXLOO«HVRXKXPLGHV
ವ 1HUHFRQJHOH]MDPDLVXQDOLPHQWTXLD
«W«G«FRQJHO«
ವ 5HVSHFWH]OHVLQVWUXFWLRQVGHVWRFNDJH
ILJXUDQWVXUO HPEDOODJHGHVDOLPHQWV
VXUJHO«V
ವ (PEDOOH]OHVDOLPHQWVGDQVXQ
HPEDOODJHDGDSW«DXFRQWDFWDYHFGHV
DOLPHQWVDYDQWGHOHVSODFHUGDQVOH
FRPSDUWLPHQWFRQJ«ODWHXU
FODLUDJHLQW«ULHXU
$9(57,66(0(175LVTXH
G «OHFWURFXWLRQ
ವ &RQFHUQDQWODOHVODPSH V ¢OಬLQW«ULHXU
GHFHSURGXLWHWOHVODPSHVGH
UHFKDQJHYHQGXHVV«SDU«PHQW&HV
ODPSHVVRQWFRQ©XHVSRXUU«VLVWHU¢
GHVFRQGLWLRQVSK\VLTXHVH[WU¬PHV
GDQVOHVDSSDUHLOV«OHFWURP«QDJHUV
WHOOHVTXHODWHPS«UDWXUHOHV
YLEUDWLRQVOಬKXPLGLW«RXVRQWFRQ©XHV
SRXUVLJQDOHUGHVLQIRUPDWLRQVVXUOH
VWDWXWRS«UDWLRQQHOGHOಬDSSDUHLO(OOHV
QHVRQWSDVGHVWLQ«HV¢¬WUHXWLOLV«HV
GDQVG DXWUHVDSSOLFDWLRQVHWQH
6
FRQYLHQQHQWSDV¢Oಬ«FODLUDJHGHV
SLªFHVGಬXQORJHPHQW
(QWUHWLHQHWQHWWR\DJH
$9(57,66(0(175LVTXHGH
EOHVVXUHFRUSRUHOOHRXGH
GRPPDJHVPDW«ULHOV
ವ $YDQWWRXWHRS«UDWLRQG HQWUHWLHQ
«WHLJQH]O DSSDUHLOHWG«EUDQFKH]OD
ILFKHGHODSULVHVHFWHXU
ವ &HWDSSDUHLOFRQWLHQWGHV
K\GURFDUEXUHVGDQVVRQFLUFXLWGH
U«IULJ«UDWLRQ/ HQWUHWLHQHWODUHFKDUJH
GXFLUFXLWGHU«IULJ«UDWLRQGRLYHQW¬WUH
HIIHFWX«VSDUXQSURIHVVLRQQHOTXDOLIL«
ವ ([DPLQH]U«JXOLªUHPHQWO «FRXOHPHQW
GHO DSSDUHLOHWVLQ«FHVVDLUHQHWWR\H]
OH6LO RULILFHHVWERXFK«O HDX
SURYHQDQWGXG«JLYUDJHV «FRXOHUDHQ
EDVGHO DSSDUHLO
6HUYLFH
ವ 3RXUU«SDUHUO DSSDUHLOFRQWDFWH]XQ
VHUYLFHDSUªVYHQWHDJU««8WLOLVH]
H[FOXVLYHPHQWGHVSLªFHVG RULJLQH
ವ 9HXLOOH]QRWHUTXಬXQHDXWRU«SDUDWLRQRX
XQHU«SDUDWLRQQRQSURIHVVLRQQHOOH
SHXYHQWDYRLUGHVFRQV«TXHQFHVVXUOD
V«FXULW«HWDQQXOHUODJDUDQWLH
0LVHDXUHEXW
$9(57,66(0(175LVTXHGH
EOHVVXUHRXG DVSK\[LH
ವ '«EUDQFKH]O DSSDUHLOGHO DOLPHQWDWLRQ
«OHFWULTXH
ವ &RXSH]OHF¤EOHG DOLPHQWDWLRQHW
PHWWH]OHDXUHEXW
ವ 5HWLUH]ODSRUWHSRXUHPS¬FKHUOHV
HQIDQWVHWOHVDQLPDX[GHV HQIHUPHU
GDQVO DSSDUHLO
ವ /HFLUFXLWIULJRULILTXHHWOHVPDW«ULDX[
G LVRODWLRQGHFHWDSSDUHLOSU«VHUYHQWOD
FRXFKHG R]RQH
ವ /DPRXVVHLVRODQWHFRQWLHQWXQJD]
LQIODPPDEOH&RQWDFWH]YRWUHVHUYLFH
PXQLFLSDOSRXUREWHQLUGHVLQIRUPDWLRQV
VXUODPDUFKH¢VXLYUHSRXUPHWWUH
O DSSDUHLODXUHEXW
ವ 1 HQGRPPDJH]SDVODSDUWLHGXFLUFXLW
GHU«IULJ«UDWLRQVLWX«H¢SUR[LPLW«GX
FRQGHQVHXUWKHUPLTXH
,167$//$7,21
$9(57,66(0(175HSRUWH]
YRXVDX[FKDSLWUHVFRQFHUQDQW
ODV«FXULW«
$9(57,66(0(17&RQVXOWH]
OHVLQVWUXFWLRQVG LQVWDOODWLRQ
SRXULQVWDOOHUYRWUHDSSDUHLO
$9(57,66(0(17)L[H]
OಬDSSDUHLOFRQIRUP«PHQWDX[
LQVWUXFWLRQVGಬLQVWDOODWLRQSRXU
«YLWHUWRXWULVTXHGಬLQVWDELOLW«GH
OಬDSSDUHLO
7
D3
D1
'LPHQVLRQV
D2
W3
A
H1
W1
B
W2
'LPHQVLRQVKRUVWRXW{
(VSDFHWRWDOUHTXLVHQVHUYLFHu
+
PP
+ $%
PP
:
PP
:
PP
'
PP
'
PP
{KDXWHXUODUJHXUHWSURIRQGHXUGH
OಬDSSDUHLOVDQVODSRLJQ«HQLOHVSLHGV
+ $%
PP
:
PP
uKDXWHXUODUJHXUHWSURIRQGHXUGH
OಬDSSDUHLODYHFODSRLJQ«HSOXVOಬHVSDFH
Q«FHVVDLUHSRXUODOLEUHFLUFXODWLRQGHOಬDLU
GHUHIURLGLVVHPHQWSOXVOಬHVSDFH
Q«FHVVDLUHSRXUDXWRULVHUOಬRXYHUWXUHGHOD
SRUWH¢OಬDQJOHPLQLPDOSHUPHWWDQWOH
UHWUDLWGHWRXVOHV«TXLSHPHQWVLQWHUQHV
'
PP
(PSODFHPHQW
(VSDFHUHTXLVHQVHUYLFHt
tKDXWHXUODUJHXUHWSURIRQGHXUGH
OಬDSSDUHLODYHFODSRLJQ«HSOXVOಬHVSDFH
Q«FHVVDLUHSRXUODOLEUHFLUFXODWLRQGHOಬDLU
GHUHIURLGLVVHPHQW
3RXUJDUDQWLUODPHLOOHXUHIRQFWLRQQDOLW«GH
OಬDSSDUHLOYRXVQHGHYH]SDVLQVWDOOHU
OಬDSSDUHLO¢SUR[LPLW«GಬXQHVRXUFHGH
FKDOHXU IRXUVSR¬OHVUDGLDWHXUV
FXLVLQLªUHVRXSODTXHVGHFXLVVRQ QLGDQV
XQOLHXH[SRV«¢ODOXPLªUHGLUHFWHGX
8
VROHLO$VVXUH]YRXVTXHOಬDLUSHXWFLUFXOHU
OLEUHPHQWDXWRXUGHOಬDUULªUHGXPHXEOH
&HWDSSDUHLOGRLW¬WUHLQVWDOO«GDQVXQOLHX
VHFHWELHQYHQWLO«¢OಬLQW«ULHXU
&HWDSSDUHLOHVWGHVWLQ«¢¬WUHXWLOLV«¢
XQHWHPS«UDWXUHDPELDQWHFRPSULVHHQWUH
r&HWr&
6HXOOHUHVSHFWGHODSODJHGH
WHPS«UDWXUHVVS«FLIL«HSHXW
JDUDQWLUXQERQIRQFWLRQQHPHQW
GHO DSSDUHLO
(QFDVGHGRXWHFRQFHUQDQWOH
OLHXG LQVWDOODWLRQGHO DSSDUHLO
YHXLOOH]FRQWDFWHUOHYHQGHXU
QRWUHVHUYLFHDSUªVYHQWHRXOH
FHQWUHGHU«SDUDWLRQDJU««OH
SOXVSURFKH
/ DSSDUHLOGRLWSRXYRLU¬WUH
G«EUDQFK«GHO DOLPHQWDWLRQ
«OHFWULTXH& HVWSRXUTXRLOD
SULVH«OHFWULTXHGRLW¬WUH
IDFLOHPHQWDFFHVVLEOHDSUªV
O LQVWDOODWLRQ
%UDQFKHPHQW«OHFWULTXH
ವ $YDQWGHEUDQFKHUO DSSDUHLODVVXUH]
YRXVTXHODWHQVLRQHWODIU«TXHQFH
LQGLTX«HVVXUODSODTXHVLJQDO«WLTXH
FRUUHVSRQGHQW¢FHOOHVGXU«VHDX
«OHFWULTXHGRPHVWLTXH
ವ /ಬDSSDUHLOGRLW¬WUHUHOL«¢ODWHUUH/D
ILFKHGXF¤EOHG DOLPHQWDWLRQFRPSRUWH
XQFRQWDFW¢FHWHIIHW6LODSULVHGH
FRXUDQWQ HVWSDVPLVH¢ODWHUUH
EUDQFKH]O DSSDUHLO¢XQHPLVH¢OD
WHUUHV«SDU«HFRQIRUP«PHQWDX[
U«JOHPHQWDWLRQVHQYLJXHXUHQ
FRQVXOWDQWXQ«OHFWULFLHQVS«FLDOLV«
ವ /HIDEULFDQWG«FOLQHWRXWH
UHVSRQVDELOLW«HQFDVGHQRQUHVSHFW
GHVFRQVLJQHVGHV«FXULW«FLGHVVXV
ವ &HWDSSDUHLOHVWFRQIRUPHDX[
GLUHFWLYHV&((
([LJHQFHVHQPDWLªUHGH
YHQWLODWLRQ
/HIOX[GಬDLUVLWX«GHUULªUHOಬDSSDUHLOGRLW
¬WUHVXIILVDQW
5 cm
min.
200 cm2
min.
200 cm2
$77(17,215HSRUWH]YRXV
DX[LQVWUXFWLRQVUHODWLYHV¢
OಬLQVWDOODWLRQ
,QYHUVLRQGXVHQVG RXYHUWXUH
GHODSRUWH
9HXLOOH]YRXVUHSRUWHUDXGRFXPHQW
V«SDU«FRQWHQDQWGHVLQVWUXFWLRQVVXU
O LQVWDOODWLRQHWOಬLQYHUVLRQGXVHQV
GಬRXYHUWXUHGHODSRUWH
$77(17,21FKDTXH«WDSH
GHU«YHUVLELOLW«GHODSRUWH
SURW«JH]OHVROSRXU«YLWHUOHV
UD\XUHVGXHVDX[PDW«ULDX[
GXUV
9
%$1'($8'(&200$1'(
1
2
/DWHPS«UDWXUHSURJUDPP«H
VHUDDWWHLQWHVRXVKHXUHV
$SUªVXQHFRXSXUHGHFRXUDQW
ODWHPS«UDWXUHSURJUDPP«H
UHVWHHQUHJLVWU«H
)DVW)UHH]H)RQFWLRQ
4
3
,QGLFDWHXUGHWHPS«UDWXUH/('
)DVW)UHH]HLQGLFDWHXU
)DVW)UHH]HWRXFKH
7KHUPRVWDW
%RXWRQ0$5&+($557
0LVHHQPDUFKH
,QV«UH]ODILFKHGDQVODSULVHPXUDOH
$SSX\H]VXUOHWKHUPRVWDWVLWRXVOHV
YR\DQWV/('VRQW«WHLQWV
0LVH¢O DUU¬W
0DLQWHQH]ODWRXFKHGXWKHUPRVWDW
HQIRQF«HSHQGDQWVHFRQGHV
7RXVOHVYR\DQWVVRQW«WHLQWV
5«JODJHGHODWHPS«UDWXUH
3RXUPHWWUHO DSSDUHLOHQPDUFKHDSSX\H]
VXUODWRXFKHGXWKHUPRVWDWMXVTX ¢FHTXH
OHYR\DQW/('FRUUHVSRQGDQW¢OD
WHPS«UDWXUHVRXKDLW«HDSSDUDLVVH/D
V«OHFWLRQVHIDLWSURJUHVVLYHPHQWGHr&
¢r&/HU«JODJHUHFRPPDQG«HVWr&
$SSX\H]VXUODWRXFKHGXWKHUPRVWDW
/HYR\DQWGHODWHPS«UDWXUHDFWXHOOH
FOLJQRWHFKDTXHIRLVTXHYRXVDSSX\H]
VXUODWRXFKHGXWKHUPRVWDWOHU«JODJH
FKDQJHG XQHSRVLWLRQ/HYR\DQW/('
FRUUHVSRQGDQWFOLJQRWHTXHOTXHVLQVWDQWV
$SSX\H]VXUODWRXFKHGXWKHUPRVWDW
MXVTX ¢FHTXHODWHPS«UDWXUH
VRXKDLW«HV DIILFKH
/DIRQFWLRQ)DVW)UHH]HVHUW¢HIIHFWXHU
XQHSU«FRQJ«ODWLRQHWXQHFRQJ«ODWLRQ
UDSLGHHQV«TXHQFHGDQVOHFRPSDUWLPHQW
GXFRQJ«ODWHXU&HWWHIRQFWLRQDFF«OªUHOD
FRQJ«ODWLRQGHVDOLPHQWVIUDLVHWSURWªJH
HQP¬PHWHPSVOHVSURGXLWVDOLPHQWDLUHV
G«M¢VWRFN«VGDQVOHFRPSDUWLPHQWGX
FRQJ«ODWHXUFRQWUHXQU«FKDXIIHPHQW
LQG«VLUDEOH
3RXUFRQJHOHUGHVDOLPHQWV
IUDLVDFWLYH]ODIRQFWLRQ
)DVW)UHH]HDXPRLQV
KHXUHVDYDQWGHSODFHUOHV
DOLPHQWVSRXUHIIHFWXHUXQH
SU«FRQJ«ODWLRQ
3RXUDFWLYHUODIRQFWLRQ)DVW)UHH]H
DSSX\H]VXUOHERXWRQ)DVW)UHH]H/H
YR\DQW)DVW)UHH]HV DOOXPH
&HWWHIRQFWLRQV DUU¬WH
DXWRPDWLTXHPHQWDXERXWGH
KHXUHV
,OHVWSRVVLEOHGHG«VDFWLYHUODIRQFWLRQ¢
Q LPSRUWHTXHOPRPHQWHQDSSX\DQW¢
QRXYHDXVXUODWRXFKH)DVW)UHH]H/H
YR\DQW)DVW)UHH]HV «WHLQW
$ODUPHGHSRUWHRXYHUWH
6LODSRUWHGXU«IULJ«UDWHXUHVWODLVV«H
RXYHUWHSHQGDQWHQYLURQPLQXWHVOHVRQ
HVWDFWLY«
/RUVTXHO DODUPHVHG«FOHQFKHOHVRQ
SHXW¬WUHG«VDFWLY«HQDSSX\DQWVXU
Q LPSRUWHTXHOOHWRXFKH/HVRQVHFRXSH
DXWRPDWLTXHPHQWDSUªVHQYLURQXQHKHXUH
SRXUQHSDVG«UDQJHU
/ DODUPHVHG«VDFWLYHGªVTXHYRXV
IHUPH]ODSRUWH
10
87,/,6$7,214827,',(11(
3RVLWLRQQHPHQWGHV«WDJªUHVGH
SRUWH
3RXUSHUPHWWUHODFRQVHUYDWLRQ
GಬHPEDOODJHVDOLPHQWDLUHVGHGLII«UHQWHV
WDLOOHVOHVEDOFRQQHWVGHODSRUWHSHXYHQW
¬WUHSODF«V¢GHVKDXWHXUVGLII«UHQWHV
6RXOHYH]GRXFHPHQWOHEDOFRQQHW
MXVTXಬ¢FHTXಬLOVHG«WDFKH
5HSRVLWLRQQH]FRPPHVRXKDLW«
1HPRGLILH]SDVO HPSODFHPHQW
GHODFOD\HWWHHQYHUUHVLWX«H
DXGHVVXVGXEDF¢O«JXPHV
DILQGHJDUDQWLUXQHFLUFXODWLRQ
G DLURSWLPDOH
%DF¢O«JXPHV
8QEDFVS«FLDOHVWSU«VHQWGDQVODSDUWLH
LQI«ULHXUHGHOಬDSSDUHLODGDSW«¢OD
FRQVHUYDWLRQGHVIUXLWVHWGHVO«JXPHV
&RQJHOHUGHVDOLPHQWVIUDLV
/HFRPSDUWLPHQWGXFRQJ«ODWHXUHVW
SDUIDLWSRXUFRQJHOHUGHVGHQU«HVIUD°FKHV
HWFRQVHUYHU¢ORQJWHUPHGHVDOLPHQWV
VXUJHO«VRXFRQJHO«V
3RXUFRQJHOHUGHVDOLPHQWVIUDLVDFWLYH]
ODIRQFWLRQ)DVW)UHH]HDXPRLQV
KHXUHVDYDQWGHSODFHUOHVDOLPHQWV¢
FRQVHUYHUGDQVOHFRPSDUWLPHQWGH
FRQJ«ODWLRQ
&RQVHUYH]OHVDOLPHQWVIUDLVU«SDUWLV
XQLIRUP«PHQWGDQVWRXVOHV
FRPSDUWLPHQWVRXWRXVOHVEDFV
&OD\HWWHVDPRYLEOHV
/HVSDURLVGXU«IULJ«UDWHXUVRQW«TXLS«HV
G XQHV«ULHGHJOLVVLªUHVDILQTXHOHV
FOD\HWWHVSXLVVHQW¬WUHSRVLWLRQQ«HV
FRPPHYRXVOHVRXKDLWH]
/DTXDQWLW«PD[LPDOHG DOLPHQWVSRXYDQW
¬WUHFRQJHO«VVDQVDMRXWHUG DXWUHV
DOLPHQWVIUDLVSHQGDQWKHXUHVILJXUH
VXUODSODTXHVLJQDO«WLTXH «WLTXHWWHVLWX«H
¢O LQW«ULHXUGHO DSSDUHLO 8QHIRLVOHSURFHVVXVGHFRQJ«ODWLRQ
WHUPLQ«O DSSDUHLOUHYLHQW
DXWRPDWLTXHPHQWDXU«JODJHGH
WHPS«UDWXUHSU«F«GHQW YRLUm)RQFWLRQ
)DVW)UHH]H} 'DQVFHVFRQGLWLRQVOD
WHPS«UDWXUH¢O LQW«ULHXUGX
U«IULJ«UDWHXUSHXWO«JªUHPHQW
FKDQJHU
&RQVHUYDWLRQGHVSODWVVXUJHO«V
/RUVGHODPLVHHQVHUYLFHRXDSUªVXQ
DUU¬WSURORQJ«HWDYDQWGಬLQWURGXLUHOHV
SURGXLWVGDQVOHFRPSDUWLPHQWODLVVH]
IRQFWLRQQHUOಬDSSDUHLODXPRLQVKHXUHV
DYHFODIRQFWLRQ)DVW)UHH]HDOOXP«H
11
/HVDOLPHQWVQHGRLYHQWSDV¬WUHSODF«V¢
PRLQVGHPPGHODSRUWH
$77(17,21(QFDVGH
G«FRQJ«ODWLRQDFFLGHQWHOOH
FDXV«HSDUXQHFRXSXUHGH
FRXUDQWSDUH[HPSOHVLOD
GXU«HGHODPLVHKRUVWHQVLRQ
HVWVXS«ULHXUH¢ODYDOHXU
LQGLTX«HVXUODSODTXH
VLJQDO«WLTXHVRXVm$XWRQRPLH
GHIRQFWLRQQHPHQW}OHV
DOLPHQWVG«FRQJHO«VGRLYHQW
¬WUHFRQVRPP«VUDSLGHPHQW
RXFXLWVLPP«GLDWHPHQWDYDQW
Gಬ¬WUHUHIURLGLVSXLV
UHFRQJHO«V
'«FRQJ«ODWLRQ
G«FRQJHO«VDXU«IULJ«UDWHXURXGDQVXQ
VDFKHWHQSODVWLTXHVRXVGHOಬHDXIURLGH
&HWWHRS«UDWLRQG«SHQGGXWHPSV
GLVSRQLEOHHWGXW\SHGಬDOLPHQWV/HVSHWLWV
PRUFHDX[SHXYHQWP¬PH¬WUHFXLWV
WRXMRXUVFRQJHO«V
)DEULFDWLRQGHJOD©RQV
&HWDSSDUHLOHVW«TXLS«G XQRXSOXVLHXUV
EDFV¢JOD©RQV
1 XWLOLVH]SDVG LQVWUXPHQWV
P«WDOOLTXHVSRXUG«FROOHUOHV
EDFVGXFRQJ«ODWHXU
5HPSOLVVH]OHVEDFVDYHFGHO HDX
3ODFH]OHVEDFV¢JOD©RQVGDQVOH
FRPSDUWLPHQWFRQJ«ODWHXU
$YDQWGಬ¬WUHFRQVRPP«VOHVDOLPHQWV
VXUJHO«VRXFRQJHO«VSHXYHQW¬WUH
&216(,/6
&RQVHLOVSRXU«FRQRPLVHU
Oൄ«QHUJLH
ವ 5«IULJ«UDWHXU/ಬXWLOLVDWLRQODSOXV
HIILFDFHGHOಬ«QHUJLHHVWDVVXU«HGDQV
ODFRQILJXUDWLRQDYHFOHVWLURLUVGDQVOD
SDUWLHLQI«ULHXUHGHOಬDSSDUHLOHWOHV
FOD\HWWHVU«SDUWLHVXQLIRUP«PHQW/D
SRVLWLRQGHVFRPSDUWLPHQWVGHSRUWH
QಬDIIHFWHSDVODFRQVRPPDWLRQ
Gಬ«QHUJLH
ವ YLWH]G RXYULUIU«TXHPPHQWODSRUWHHW
QHODODLVVH]RXYHUWHTXHOHWHPSV
Q«FHVVDLUH
ವ &RQJ«ODWHXU3OXVOHU«JODJHGHOD
WHPS«UDWXUHHVWEDVSOXVOD
FRQVRPPDWLRQ«OHFWULTXHHVW«OHY«H
ವ 5«IULJ«UDWHXU1HU«JOH]SDVXQH
WHPS«UDWXUHWURS«OHY«HSRXU
«FRQRPLVHUOಬ«QHUJLHVDXIVLFHODHVW
UHTXLVSDUOHVFDUDFW«ULVWLTXHVGHV
DOLPHQWV
ವ 6LODWHPS«UDWXUHDPELDQWHHVW«OHY«H
TXHOHWKHUPRVWDWHVWU«JO«VXUXQH
WHPS«UDWXUHEDVVHHWTXHOಬDSSDUHLOHVW
SOHLQOHFRPSUHVVHXUIRQFWLRQQHHQ
U«JLPHFRQWLQXFHTXLSURYRTXHXQH
IRUPDWLRQGHJLYUHRXGHJODFHVXU
Oಬ«YDSRUDWHXU'DQVFHFDVU«JOH]OH
WKHUPRVWDWVXUXQHWHPS«UDWXUHSOXV
«OHY«HSRXUSHUPHWWUHOHG«JLYUDJH
DXWRPDWLTXHHWGRQFGಬ«FRQRPLVHUGH
Oಬ«QHUJLH
ವ $VVXUH]XQHERQQHYHQWLODWLRQ1H
FRXYUH]SDVOHVJULOOHVRXOHVRULILFHV
GHYHQWLODWLRQ
&RQVHLOVSRXUODFRQJ«ODWLRQ
ವ $FWLYH]ODIRQFWLRQ)DVW)UHH]HDX
PRLQVKHXUHVDYDQWGHSODFHUOHV
DOLPHQWV¢OಬLQW«ULHXUGXFRPSDUWLPHQW
GXFRQJ«ODWHXU
ವ $YDQWGHFRQJHOHUHPEDOOH]HWIHUPH]
OHVDOLPHQWVIUDLVGDQVSDSLHU
DOXPLQLXPILOPRXVDFKHWVHQ
SODVWLTXHU«FLSLHQWVKHUP«WLTXHVDYHF
FRXYHUFOH
ವ 3RXUXQHFRQJ«ODWLRQHWXQH
G«FRQJ«ODWLRQSOXVHIILFDFHVV«SDUH]
OHVDOLPHQWVHQSHWLWHVSRUWLRQV
ವ ,OHVWUHFRPPDQG«GHPHWWUHGHV
«WLTXHWWHVHWGHVGDWHVVXUWRXVYRV
DOLPHQWVFRQJHO«V&HODSHUPHWWUD
GಬLGHQWLILHUOHVDOLPHQWVHWGHVDYRLU
12
ವ
ವ
ವ
ವ
ವ
ವ
TXDQGLOVSHXYHQW¬WUHFRQVRPP«V
DYDQWOHXUG«W«ULRUDWLRQ
/HVDOLPHQWVGRLYHQW¬WUHIUDLVORUVTXಬLOV
VRQWFRQJHO«VSRXUSU«VHUYHUOHXU
TXDOLW«(QSDUWLFXOLHUOHVIUXLWVHWOHV
O«JXPHVGRLYHQW¬WUHFRQJHO«VDSUªV
OHXUU«FROWHSRXUSU«VHUYHUWRXVOHXUV
QXWULPHQWV
1HFRQJHOH]SDVGHVERXWHLOOHVRXGHV
FDQHWWHVDYHFGHVOLTXLGHVHQ
SDUWLFXOLHUGHVERLVVRQVFRQWHQDQWGX
GLR[\GHGHFDUERQHHOOHVSRXUUDLHQW
H[SORVHUSHQGDQWODFRQJ«ODWLRQ
1 LQWURGXLVH]SDVG DOLPHQWVFKDXGV
GDQVOHFRPSDUWLPHQWGXFRQJ«ODWHXU
/DLVVH]OHVUHIURLGLU¢WHPS«UDWXUH
DPELDQWHDYDQWGHOHVSODFHUGDQVOH
FRPSDUWLPHQW
3RXU«YLWHUG DXJPHQWHUODWHPS«UDWXUH
GHVDOLPHQWVG«M¢VXUJHO«VQHSODFH]
SDVG DOLPHQWVIUDLVQRQFRQJHO«V
GLUHFWHPHQW¢SUR[LPLW«3ODFH]OHV
DOLPHQWV¢WHPS«UDWXUHDPELDQWHGDQV
ODSDUWLHGXFRPSDUWLPHQWGX
FRQJ«ODWHXUR»LOQಬ\DSDVGಬDOLPHQWV
FRQJHO«V
1HPDQJH]SDVOHVJOD©RQVOHVJODFHV
¢O HDXRXOHVE¤WRQQHWVJODF«VGªVOHXU
VRUWLHGXFRQJ«ODWHXU5LVTXHGH
JHOXUH
1HUHFRQJHOH]SDVGHVDOLPHQWV
G«FRQJHO«V6LOHVDOLPHQWVVRQW
G«FRQJHO«VFXLVH]OHVODLVVH]OHV
UHIURLGLUSXLVFRQJHOH]OHV
&RQVHLOVSRXUOHVWRFNDJHGHV
SODWVVXUJHO«V
ವ /HFRPSDUWLPHQWFRQJ«ODWHXUHVW
PDUTX«GH
ವ /HU«JODJHLQWHUP«GLDLUHGHOD
WHPS«UDWXUHDVVXUHXQHERQQH
FRQVHUYDWLRQGHVSURGXLWVDOLPHQWDLUHV
FRQJHO«V
ವ
ವ
ವ
ವ
8QU«JODJHGHWHPS«UDWXUHSOXV«OHY«¢
OಬLQW«ULHXUGHOಬDSSDUHLOSHXWHQWUD°QHU
XQHGXU«HGHFRQVHUYDWLRQSOXVFRXUWH
/ಬHQVHPEOHGXFRPSDUWLPHQWGX
FRQJ«ODWHXUHVWDGDSW«¢OD
FRQVHUYDWLRQGHSURGXLWVDOLPHQWDLUHV
FRQJHO«V
/DLVVH]VXIILVDPPHQWGಬHVSDFHDXWRXU
GHVDOLPHQWVSRXUSHUPHWWUH¢OಬDLUGH
FLUFXOHUOLEUHPHQW
3RXUXQHFRQVHUYDWLRQDG«TXDWH
FRQVXOWH]Oಬ«WLTXHWWHGHOಬHPEDOODJHGHV
DOLPHQWVSRXUFRQQD°WUHODGXU«HGH
FRQVHUYDWLRQGHVDOLPHQWV
,OHVWLPSRUWDQWGಬHPEDOOHUOHVDOLPHQWV
GHPDQLªUH¢HPS¬FKHUOಬHDX
OಬKXPLGLW«RXODFRQGHQVDWLRQGH
S«Q«WUHU¢OಬLQW«ULHXU
&RQVHLOVSRXUYRVFRXUVHV
$SUªVYRVFRXUVHV
ವ $VVXUH]YRXVTXHOಬHPEDOODJHQಬHVW
SDVHQGRPPDJ«OHVDOLPHQWV
SRXUUDLHQW¬WUHG«W«ULRU«V6L
OಬHPEDOODJHHVWJRQIO«RXPRXLOO«LOQಬD
SHXW¬WUHSDV«W«FRQVHUY«GDQVGHV
FRQGLWLRQVRSWLPDOHVHWOD
G«FRQJ«ODWLRQDSHXW¬WUHG«M¢
FRPPHQF«
ವ 3RXUOLPLWHUOHSURFHVVXVGH
G«FRQJ«ODWLRQDFKHWH]OHVSURGXLWV
FRQJHO«V¢ODILQGHYRVFRXUVHVHW
WUDQVSRUWH]OHVGDQVXQVDFLVRWKHUPH
ವ 3ODFH]OHVDOLPHQWVFRQJHO«VGDQVOH
FRQJ«ODWHXULPP«GLDWHPHQWDSUªV¬WUH
UHYHQXGHYRVFRXUVHV
ವ 6LOHVDOLPHQWVVRQWG«FRQJHO«VP¬PH
SDUWLHOOHPHQWQHOHVUHFRQJHOH]SDV
&RQVRPPH]OHVGªVTXHSRVVLEOH
ವ 5HVSHFWH]ODGDWHGಬH[SLUDWLRQHWOHV
LQIRUPDWLRQVGHFRQVHUYDWLRQVXU
OಬHPEDOODJH
'XU«HGHFRQVHUYDWLRQSRXUOHFRPSDUWLPHQWGXFRQJ«ODWHXU
7\SHGൄDOLPHQW
'XU«HGHFRQVHUYD഻
WLRQ PRLV
3DLQ
13
7\SHGൄDOLPHQW
'XU«HGHFRQVHUYD഻
WLRQ PRLV
)UXLWV VDXIDJUXPHV
/«JXPHV
5HVWHV VDQVYLDQGH
3URGXLWVODLWLHUV
%HXUUH
)URPDJH¢S¤WHPROOH SH[PR]]DUHOOD
)URPDJH¢S¤WHGXUH SH[SDUPHVDQFKHGGDU
)UXLWVGHPHU
3RLVVRQJUDV SH[VDXPRQPDTXHUHDX
3RLVVRQPDLJUH SH[FDELOODXGOLPDQGH
&UHYHWWHV
3DORXUGHVHWPRXOHVG«FRUWLTX«HV
3RLVVRQFXLW
9LDQGH
9RODLOOH
%ĕXI
3RUF
$JQHDX
6DXFLVVH
-DPERQ
5HVWHV DYHFYLDQGH
&RQVHLOVSRXUODU«IULJ«UDWLRQ
GHVDOLPHQWVIUDLV
ವ 8QERQU«JODJHGHWHPS«UDWXUHTXL
JDUDQWLWODFRQVHUYDWLRQGHVDOLPHQWV
IUDLVHVWXQHWHPS«UDWXUHLQI«ULHXUHRX
«JDOH¢r&
8QU«JODJHGHWHPS«UDWXUHSOXV«OHY«¢
OಬLQW«ULHXUGHOಬDSSDUHLOSHXWHQWUD°QHU
XQHGXU«HGHFRQVHUYDWLRQSOXVFRXUWH
GHVDOLPHQWV
ವ &RXYUH]OHVDOLPHQWVDYHFXQ
HPEDOODJHSRXUFRQVHUYHUOHXU
IUD°FKHXUHWOHXUDU¶PH
ವ 8WLOLVH]WRXMRXUVGHVU«FLSLHQWVIHUP«V
SRXUOHVOLTXLGHVHWOHVDOLPHQWVDILQ
Gಬ«YLWHUOHVVDYHXUVRXOHVRGHXUVGDQV
OHFRPSDUWLPHQW
ವ 3RXU«YLWHUODFRQWDPLQDWLRQFURLV«H
HQWUHOHVDOLPHQWVFXLWVHWOHVDOLPHQWV
FUXVFRXYUH]OHVDOLPHQWVFXLWVHW
V«SDUH]OHVGHVDOLPHQWVFUXV
ವ ,OHVWFRQVHLOO«GHG«FRQJHOHUOHV
DOLPHQWV¢OಬLQW«ULHXUGXU«IULJ«UDWHXU
ವ 1 LQV«UH]SDVG DOLPHQWVFKDXGVGDQV
OಬDSSDUHLO$VVXUH]YRXVTXಬLOVRQW
UHIURLGL¢WHPS«UDWXUHDPELDQWHDYDQW
GHOHVLQV«UHU
ವ 3RXU«YLWHUOHJDVSLOODJHGHVDOLPHQWV
OHQRXYHDXVWRFNGಬDOLPHQWVGRLW
WRXMRXUV¬WUHSODF«GHUULªUHOಬDQFLHQ
&RQVHLOVSRXUODU«IULJ«UDWLRQ
GHVDOLPHQWV
ವ /HFRPSDUWLPHQWGHVDOLPHQWVIUDLVHVW
FHOXLLQGLTX« VXUODSODTXH
VLJQDO«WLTXH SDU
ವ 9LDQGH WRXVW\SHV HQYHORSSH]OD
GDQVXQHPEDOODJHDSSURSUL«HWSODFH]
ODVXUO «WDJªUHHQYHUUHDXGHVVXVGX
14
EDF¢O«JXPHV1HFRQVHUYH]ODYLDQGH
TXHRXMRXUVDXSOXV
ವ )UXLWVHWO«JXPHVQHWWR\H]
VRLJQHXVHPHQW UHWLUH]ODWHUUH HW
SODFH]OHVGDQVXQEDFVS«FLDO EDF¢
O«JXPHV ವ ,OHVWFRQVHLOO«GHQHSDVFRQVHUYHUOHV
IUXLWVH[RWLTXHVWHOVTXHOHVEDQDQHV
OHVPDQJXHVOHVSDSD\HVHWFGDQVOH
U«IULJ«UDWHXU
ವ /HVO«JXPHVWHOVTXHOHVWRPDWHVOHV
SRPPHVGHWHUUHOHVRLJQRQVHWO DLOQH
GRLYHQWSDV¬WUHFRQVHUY«VGDQVOH
U«IULJ«UDWHXU
ವ %HXUUHHWIURPDJHSODFH]OHVGDQVXQ
U«FLSLHQW«WDQFKH¢O DLURX
HQYHORSSH]OHVGDQVXQHIHXLOOH
G DOXPLQLXPRXXQVDFKHWHQ
SRO\«WK\OªQHSRXUOHVWHQLUDXWDQWTXH
SRVVLEOH¢O DEULGHO DLU
ವ %RXWHLOOHVIHUPH]OHVDYHFXQ
ERXFKRQHWSODFH]OHVVXUOHSRUWH
ERXWHLOOHVRX V LOHVWLQVWDOO« GDQVOH
EDOFRQQHW¢ERXWHLOOHVGHODSRUWH
ವ &RQVXOWH]WRXMRXUVODGDWHG H[SLUDWLRQ
GHVSURGXLWVSRXUVDYRLUFRPELHQGH
WHPSVOHVFRQVHUYHU
(175(7,(1(71(772<$*(
$9(57,66(0(175HSRUWH]
YRXVDX[FKDSLWUHVFRQFHUQDQW
ODV«FXULW«
1HWWR\DJHGHOൄLQW«ULHXU
$YDQWG XWLOLVHUO DSSDUHLOSRXUODSUHPLªUH
IRLVQHWWR\H]O LQW«ULHXUHWWRXVOHV
DFFHVVRLUHVDYHFGHO HDXWLªGH
VDYRQQHXVH SRXUVXSSULPHUWRXWHRGHXU
GHQHXI SXLVV«FKH]OHVVRLJQHXVHPHQW
$77(17,211 XWLOLVH]MDPDLV
GHG«WHUJHQWVGHSURGXLWV
DEUDVLIVGHQHWWR\DQWV¢EDVH
GHFKORUHRXG KXLOHFDULOV
SRXUUDLHQWHQGRPPDJHUOH
UHY¬WHPHQW
$77(17,21/HVSLªFHVHW
DFFHVVRLUHVGHO DSSDUHLOQH
GRLYHQWSDV¬WUHODY«VDXODYH
YDLVVHOOH
1HWWR\DJHS«ULRGLTXH
/ DSSDUHLOGRLW¬WUHQHWWR\«U«JXOLªUHPHQW
1HWWR\H]O LQW«ULHXUHWOHVDFFHVVRLUHV
DYHFGHO HDXWLªGHHWGXVDYRQQHXWUH
9«ULILH]U«JXOLªUHPHQWOHVMRLQWVGH
SRUWHHWHVVX\H]OHVSRXUYRXVDVVXUHU
TX LOVVRQWSURSUHVHWQHFRQWLHQQHQW
SDVGHU«VLGXV
5LQFH]HWV«FKH]VRLJQHXVHPHQW
'«JLYUDJHGXU«IULJ«UDWHXU
/HJLYUHHVWDXWRPDWLTXHPHQW«OLPLQ«GH
Oಬ«YDSRUDWHXUGXFRPSDUWLPHQWGX
U«IULJ«UDWHXUHQXWLOLVDWLRQQRUPDOH/ HDX
GHG«JLYUDJHHVWFROOHFW«HGDQVXQ
U«FLSLHQWVS«FLDOVLWX«¢O DUULªUHGH
O DSSDUHLODXGHVVXVGXFRPSUHVVHXU
G R»HOOHV «YDSRUH
,OHVWLPSRUWDQWGHQHWWR\HUU«JXOLªUHPHQW
O RULILFHG «FRXOHPHQWGHODJRXORWWH
G «YDFXDWLRQGHO HDXGHG«JLYUDJHVLWX«H
DXPLOLHXGXFRPSDUWLPHQWU«IULJ«UDWHXU
SRXUHPS¬FKHUO HDXGHG«ERUGHUHWGH
FRXOHU¢O LQW«ULHXUGHO DSSDUHLO
3RXUFHIDLUHXWLOLVH]ODWLJHGHQHWWR\DJH
GHODJRXORWWHIRXUQLHDYHFOಬDSSDUHLO
15
'«JLYUDJHGXFRQJ«ODWHXU
$77(17,211ಬXWLOLVH]MDPDLV
GಬRXWLOVP«WDOOLTXHVWUDQFKDQWV
SRXUJUDWWHUOHJLYUHGH
Oಬ«YDSRUDWHXUFDUYRXV
ULVTXHULH]GHOಬHQGRPPDJHU
1ಬXWLOLVH]DXFXQGLVSRVLWLI
P«FDQLTXHRXPR\HQDUWLILFLHO
SRXUDFF«O«UHUOHSURFHVVXVGH
G«JLYUDJHKRUPLVFHX[
UHFRPPDQG«VSDUOHIDEULFDQW
(QYLURQKHXUHVDYDQWOH
G«JLYUDJHPHWWH]OHWKHUPRVWDW
VXUXQHWHPS«UDWXUHLQI«ULHXUH
DILQG DVVXUHUXQHU«VHUYHGH
IURLGVXIILVDQWHHQFDV
GಬLQWHUUXSWLRQGX
IRQFWLRQQHPHQW
8QHFHUWDLQHTXDQWLW«GHJLYUHVHIRUPH
WRXMRXUVVXUOHVFOD\HWWHVGXFRQJ«ODWHXU
HWDXWRXUGXFRPSDUWLPHQWVXS«ULHXU
'«JLYUH]OHFRQJ«ODWHXUORUVTXH
O «SDLVVHXUGHODFRXFKHGHJLYUHHVW
G HQYLURQPP
WHLJQH]O DSSDUHLORXG«EUDQFKH]OD
ILFKHGHODSULVHVHFWHXU
6RUWH]OHVGHQU«HVFRQJHO«HVHW
FRQVHUYH]OHVGDQVXQHQGURLWIUDLV
$77(17,218QH
«O«YDWLRQGHODWHPS«UDWXUH
GHVGHQU«HVFRQJHO«HV
SHQGDQWOHG«JLYUDJHSHXW
U«GXLUHOHXUGXU«HGH
FRQVHUYDWLRQ
1HWRXFKH]SDVOHVSURGXLWV
FRQJHO«VDYHFOHVPDLQV
PRXLOO«HV/HVPDLQV
SHXYHQWJHOHUVXUOHV
SURGXLWV
'3$11$*(
$9(57,66(0(175HSRUWH]
YRXVDX[FKDSLWUHVFRQFHUQDQW
ODV«FXULW«
/DLVVH]ODSRUWHRXYHUWH3URW«JH]OH
VROGHOಬHDXGHG«JLYUDJHDYHFXQ
FKLIIRQRXXQU«FLSLHQWSODW
/HG«JLYUDJHSHXW¬WUHDFF«O«U«HQ
SOD©DQWXQU«FLSLHQWGಬHDXFKDXGH
GDQVOHFRPSDUWLPHQWGXFRQJ«ODWHXU
5HWLUH]«JDOHPHQWOHVPRUFHDX[GH
JODFHDXIXUHW¢PHVXUHTXಬLOVVH
G«WDFKHQWDYDQWODILQGXG«JLYUDJH
8QHIRLVOHG«JLYUDJHWHUPLQ«V«FKH]
ELHQO LQW«ULHXU
0HWWH]O DSSDUHLOHQPDUFKHHWIHUPH]
ODSRUWH
5«JOH]OHWKHUPRVWDWSRXUREWHQLUOH
SOXVGHIURLGSRVVLEOHHWIDLWHV
IRQFWLRQQHUO DSSDUHLODXPRLQV
KHXUHVDYHFFHU«JODJH
9RXVSRXYH]UHPHWWUHOHVGHQU«HVGDQVOH
FRPSDUWLPHQWFRQJ«ODWHXUXQLTXHPHQW¢
FHVWDGH
3«ULRGHGHQRQXWLOLVDWLRQ
6LO DSSDUHLOQ HVWSDVXWLOLV«SHQGDQWXQH
ORQJXHS«ULRGHSUHQH]OHVSU«FDXWLRQV
VXLYDQWHV
'«EUDQFKH]O DSSDUHLOGHO DOLPHQWDWLRQ
«OHFWULTXH
5HWLUH]WRXVOHVDOLPHQWV
'«JLYUH]O DSSDUHLO
1HWWR\H]O DSSDUHLOHWWRXVOHV
DFFHVVRLUHV
/DLVVH]OHVSRUWHVRXYHUWHVSRXU«YLWHU
ODIRUPDWLRQG RGHXUVG«VDJU«DEOHV
16
4XHIDLUHVL
3UREOªPH
&DXVHSRVVLEOH
6ROXWLRQ
/ಬDSSDUHLOQHIRQFWLRQQHSDV
/ಬDSSDUHLOHVW«WHLQW
0HWWH]OಬDSSDUHLOHQPDUFKH
/DILFKHGಬDOLPHQWDWLRQQಬHVW
SDVFRUUHFWHPHQWEUDQFK«H
¢ODSULVHGHFRXUDQW
%UDQFKH]ODILFKHVHFWHXU
VXUODSULVHGHFRXUDQW
,OQಬ\DSDVGHWHQVLRQGDQV
ODSULVHGHFRXUDQW
%UDQFKH]XQDXWUHDSSDUHLO
VXUODSULVHGHFRXUDQW&RQಣ
WDFWH]XQ«OHFWULFLHQTXDOLIL«
/ಬDSSDUHLOHVWEUX\DQW
/ಬDSSDUHLOQಬHVWSDVSRVLWLRQಣ
Q«FRUUHFWHPHQW
9«ULILH]TXHOಬDSSDUHLOHVW
VWDEOH
/HVVLJQDX[VRQRUHVRXYLಣ
VXHOVVRQWDFWLY«V
/HPHXEOHD«W«DOOXP«U«ಣ
FHPPHQW
&RQVXOWH]OHSDUDJUDSKH
m$ODUPHSRUWHRXYHUWH}RX
m$ODUPHKDXWHWHPS«UDWXಣ
UH}
/DWHPS«UDWXUH¢OಬLQW«ULHXU
GHOಬDSSDUHLOHVWWURS«OHY«H
&RQVXOWH]OHSDUDJUDSKH
m$ODUPHSRUWHRXYHUWH}RX
m$ODUPHKDXWHWHPS«UDWXಣ
UH}
/DSRUWHHVWODLVV«HRXYHUWH
5HIHUPH]ODSRUWH
/HFRPSUHVVHXUIRQFWLRQQH
HQSHUPDQHQFH
/DWHPS«UDWXUHHVWPDOU«ಣ
JO«H
5HSRUWH]YRXVDXFKDSLWUH
m%DQGHDXGHFRPPDQGH}
7URSGಬDOLPHQWVRQW«W«LQWURಣ
GXLWVVLPXOWDQ«PHQW
$WWHQGH]TXHOTXHVKHXUHVHW
Y«ULILH]GHQRXYHDXODWHPಣ
S«UDWXUH
/DWHPS«UDWXUHDPELDQWH
HVWWURS«OHY«H
5HSRUWH]YRXVDXFKDSLWUH
m,QVWDOODWLRQ}
/HVDOLPHQWVSODF«VGDQV
OಬDSSDUHLO«WDLHQWWURS
FKDXGV
/DLVVH]UHIURLGLUOHVDOLPHQWV
¢WHPS«UDWXUHDPELDQWH
DYDQWGHOHVUDQJHU
/DSRUWHQಬHVWSDVFRUUHFWHಣ
PHQWIHUP«H
5HSRUWH]YRXV¢ODVHFWLRQ
m)HUPHWXUHGHODSRUWH}
/DIRQFWLRQ)DVW)UHH]HHVW
DFWLY«H
&RQVXOWH]OHSDUDJUDSKH
m)RQFWLRQ)DVW)UHH]H}
/HFRPSUHVVHXUG«PDUUHDX
ERXWGಬXQFHUWDLQWHPSV
&ಬHVWQRUPDODXFXQHHUUHXU
QಬHVWVXUYHQXH
/HFRPSUHVVHXUQHG«PDUUH
SDVLPP«GLDWHPHQWDSUªV
DYRLUDSSX\«VXUODWRXFKH
m)DVW)UHH]H}RXDSUªV
DYRLUPRGLIL«ODWHPS«UDWXUH
17
3UREOªPH
&DXVHSRVVLEOH
6ROXWLRQ
/DSRUWHHVWPDODOLJQ«HRX
LQWHUIªUHDYHFOHJULOGHYHQಣ
WLODWLRQ
/ಬDSSDUHLOQಬHVWSDV
GಬDSORPE
&RQVXOWH]OHVLQVWUXFWLRQV
GಬLQVWDOODWLRQ
/DSRUWHHVWGLIILFLOH¢RXYULU
9RXVDYH]HVVD\«GHURXYULU
ODSRUWHLPP«GLDWHPHQW
DSUªVOಬDYRLUIHUP«H
$WWHQGH]TXHOTXHVVHFRQಣ
GHVDSUªVDYRLUIHUP«OD
SRUWHSRXUODURXYULU
/ಬ«FODLUDJHQHIRQFWLRQQH
SDV
/ಬ«FODLUDJHHVWHQPRGHYHLOಣ
OH
)HUPH]HWRXYUH]ODSRUWH
/ಬ«FODLUDJHHVWG«IHFWXHX[
&RQWDFWH]OHVHUYLFHDSUªV
YHQWHDJU««OHSOXVSURFKH
,O\DWURSGHJLYUHHWGHJODಣ
FH
/DSRUWHQಬHVWSDVFRUUHFWHಣ
PHQWIHUP«H
5HSRUWH]YRXV¢ODVHFWLRQ
m)HUPHWXUHGHODSRUWH}
/HMRLQWHVWG«IRUP«RXVDOH
5HSRUWH]YRXV¢ODVHFWLRQ
m)HUPHWXUHGHODSRUWH}
/HVDOLPHQWVQHVRQWSDV
FRUUHFWHPHQWHPEDOO«V
(PEDOOH]PLHX[OHVDOLಣ
PHQWV
/DWHPS«UDWXUHHVWPDOU«ಣ
JO«H
5HSRUWH]YRXVDXFKDSLWUH
m%DQGHDXGHFRPPDQGH}
/ಬDSSDUHLOHVWFRPSOªWHPHQW
FKDUJ«HWU«JO«VXUODWHPಣ
S«UDWXUHODSOXVEDVVH
6«OHFWLRQQH]XQHWHPS«UDಣ
WXUHSOXV«OHY«H5HSRUWH]
YRXVDXFKDSLWUHm%DQGHDX
GHFRPPDQGH}
/DWHPS«UDWXUHU«JO«HGDQV
OಬDSSDUHLOHVWWURSEDVVHHWOD
WHPS«UDWXUHDPELDQWHHVW
WURS«OHY«H
6«OHFWLRQQH]XQHWHPS«UDಣ
WXUHSOXV«OHY«H5HSRUWH]
YRXVDXFKDSLWUHm%DQGHDX
GHFRPPDQGH}
'HOಬHDXVಬ«FRXOHVXUODSODಣ
TXHDUULªUHGXU«IULJ«UDWHXU
3HQGDQWOHG«JLYUDJHDXWRಣ
PDWLTXHOHJLYUHIRQGVXUOD
SODTXHDUULªUH
&ಬHVWQRUPDO
7URSGಬHDXVಬHVWFRQGHQV«H
VXUODSDURLDUULªUHGXU«IULಣ
J«UDWHXU
/DSRUWHD«W«RXYHUWHWURS
IU«TXHPPHQW
1ಬRXYUH]ODSRUWHTXಬHQFDV
GHQ«FHVVLW«
/DSRUWHQಬHVWSDVHQWLªUHಣ
PHQWIHUP«H
$VVXUH]YRXVTXHODSRUWH
HVWHQWLªUHPHQWIHUP«H
/HVDOLPHQWVFRQVHUY«VQH
VRQWSDVHPEDOO«V
(QYHORSSH]OHVDOLPHQWV
GDQVXQHPEDOODJHDGDSW«
DYDQWGHOHVUDQJHUGDQV
OಬDSSDUHLO
18
3UREOªPH
&DXVHSRVVLEOH
6ROXWLRQ
'HOಬHDXVಬ«FRXOH¢OಬLQW«ULHXU
GXU«IULJ«UDWHXU
'HVDOLPHQWVHPS¬FKHQW
OಬHDXGHVಬ«FRXOHUGDQVOH
U«VHUYRLUGಬHDX
$VVXUH]YRXVTXHOHVDOLಣ
PHQWVQHWRXFKHQWSDVOD
SODTXHDUULªUH
/DVRUWLHGಬHDXHVWREVWUX«H
1HWWR\H]ODVRUWLHGಬHDX
'HOಬHDXVಬ«FRXOHVXUOHVRO
/DVRUWLHGಬHDXGHG«JLYUDJH
QಬHVWSDVUDFFRUG«HDXEDF
Gಬ«YDSRUDWLRQVLWX«DXGHVಣ
VXVGXFRPSUHVVHXU
)L[H]ODVRUWLHGHOಬHDXGH
G«JLYUDJHDXSODWHDXGಬ«YDಣ
SRUDWLRQ
/DWHPS«UDWXUHQHSHXWSDV
¬WUHU«JO«H
/Dm)DVW)UHH]HIRQFWLRQ}
HVWDFWLY«H
WHLJQH]ODm)DVW)UHHಣ
]HIRQFWLRQ}PDQXHOOHPHQW
RXDWWHQGH]TXHODIRQFWLRQ
VHU«LQLWLDOLVHDXWRPDWLTXHಣ
PHQWDYDQWGHU«JOHUODWHPಣ
S«UDWXUH5HSRUWH]YRXVDX
SDUDJUDSKHm)DVW)UHHಣ
]H)RQFWLRQ}
/DWHPS«UDWXUH¢OಬLQW«ULHXU
GHOಬDSSDUHLOHVWWURSEDVVH
«OHY«H
/DWHPS«UDWXUHQಬHVWSDVU«ಣ
JO«HFRUUHFWHPHQW
6«OHFWLRQQH]XQHWHPS«UDಣ
WXUHSOXV«OHY«HSOXVEDVVH
/DSRUWHQಬHVWSDVFRUUHFWHಣ
PHQWIHUP«H
5HSRUWH]YRXV¢ODVHFWLRQ
m)HUPHWXUHGHODSRUWH}
/DWHPS«UDWXUHGHVDOLPHQWV
HVWWURS«OHY«H
/DLVVH]OHVDOLPHQWVUHIURLGLU
¢WHPS«UDWXUHDPELDQWH
DYDQWGHOHVFRQVHUYHU
7URSGಬDOLPHQWVRQW«W«FRQಣ
VHUY«VVLPXOWDQ«PHQW
&RQVHUYH]PRLQVGHSURಣ
GXLWVHQP¬PHWHPSV
/ಬ«SDLVVHXUGXJLYUHHVWVXಣ
S«ULHXUH¢PP
'«JLYUH]OಬDSSDUHLO
/DSRUWHD«W«RXYHUWHVRXಣ
YHQW
1ಬRXYUH]ODSRUWHTXHVLQ«ಣ
FHVVDLUH
/DIRQFWLRQ)DVW)UHH]HHVW
DFWLY«H
&RQVXOWH]OHSDUDJUDSKH
m)RQFWLRQ)DVW)UHH]H}
/ಬDLUIURLGQHFLUFXOHSDV
GDQVOಬDSSDUHLO
$VVXUH]YRXVTXHOಬDLUIURLG
FLUFXOHGDQVOಬDSSDUHLO5Hಣ
SRUWH]YRXVDXFKDSLWUH
m&RQVHLOV}
&HW«WDWHVWQRUPDO
&HUWDLQHVVXUIDFHVVS«FLILಣ
TXHV¢OಬLQW«ULHXUGXFRPSDUಣ
WLPHQWGXU«IULJ«UDWHXUVRQW
SDUIRLVSOXVFKDXGHV
19
3UREOªPH
&DXVHSRVVLEOH
6ROXWLRQ
/HV/('GHU«JODJHGHOD
WHPS«UDWXUHFOLJQRWHQWHQ
P¬PHWHPSV
8QHHUUHXUVಬHVWSURGXLWH
ORUVGHODPHVXUHGHODWHPಣ
S«UDWXUH
&RQWDFWH]OHVHUYLFHDSUªV
YHQWHDJU««OHSOXVSURFKH
/HV\VWªPHGHUHIURLGLVVHಣ
PHQWFRQWLQXHGHPDLQWHQLU
OHVDOLPHQWVDXIUDLVPDLVOH
U«JODJHGHODWHPS«UDWXUH
QಬHVWSDVSRVVLEOH
6LFHVFRQVHLOVQಬDSSRUWHQWSDV
OHU«VXOWDWVRXKDLW«YHXLOOH]
FRQVXOWHUOHVHUYLFHDSUªV
YHQWHDJU««OHSOXVSURFKH
5HPSODFHPHQWGHO «FODLUDJH
/ DSSDUHLOHVW«TXLS«G XQ«FODLUDJH¢/('
ORQJXHGXU«H
/HUHPSODFHPHQWGXGLVSRVLWLIG «FODLUDJH
GRLWXQLTXHPHQW¬WUHHIIHFWX«SDUXQ
WHFKQLFLHQGXVHUYLFHDSUªVYHQWH
&RQWDFWH]YRWUHVHUYLFHDSUªVYHQWH
DJU««
)HUPHWXUHGHODSRUWH
1HWWR\H]OHVMRLQWVGHODSRUWH
6LQ«FHVVDLUHDMXVWH]ODSRUWH
&RQVXOWH]OHVLQVWUXFWLRQV
G LQVWDOODWLRQ
6LQ«FHVVDLUHUHPSODFH]OHVMRLQWVGH
SRUWHG«IHFWXHX[&RQWDFWH]OHVHUYLFH
DSUªVYHQWHDJU««
20
%58,76
SSSRRR!
BRRR!
CLICK!
HISSS!
BLUBB!
'211(67(&+1,48(6
/HVFDUDFW«ULVWLTXHVWHFKQLTXHVILJXUHQW
VXUODSODTXHVLJQDO«WLTXHDSSRV«HVXUOH
F¶W«LQW«ULHXUGHOಬDSSDUHLOHWVXUOಬ«WLTXHWWH
«QHUJ«WLTXH
7HQVLRQ
)U«TXHQFH
a9
+]
,1)250$7,2163285/(6,167,7876'(7(67
/ಬLQVWDOODWLRQHWODSU«SDUDWLRQGHOಬDSSDUHLO
SRXUXQHY«ULILFDWLRQ(FR'HVLJQGRLYHQW
¬WUHFRQIRUPHV¢ODQRUPH(1/HV
H[LJHQFHVGHYHQWLODWLRQOHVGLPHQVLRQV
GHV«YLGHPHQWVHWOHVG«JDJHPHQWV
DUULªUHPLQLPXPGRLYHQWFRUUHVSRQGUHDX[
LQGLFDWLRQVGXFKDSLWUHGHFHPDQXHO
GಬXWLOLVDWLRQ9HXLOOH]FRQWDFWHUOHIDEULFDQW
SRXUGHSOXVDPSOHVLQIRUPDWLRQV
QRWDPPHQWOHVSODQVGHFKDUJHPHQW
:$55$17<&86720(56(59,&(
)RUHDFKSURGXFWZHSURYLGHDWZR\HDU
JXDUDQWHHIURPWKHGDWHRISXUFKDVHRU
GHOLYHU\WRWKHFRQVXPHU ZLWKD
JXDUDQWHHFHUWLILFDWHLQYRLFHRUVDOHV
UHFHLSWVHUYLQJDVSURRI 21
7KHJXDUDQWHHFRYHUVWKHFRVWVRI
PDWHULDOVODERXUDQGWUDYHO7KH
JXDUDQWHHZLOOODSVHLIWKHRSHUDWLQJ
LQVWUXFWLRQVDQGFRQGLWLRQVRIXVHDUHQRW
DGKHUHGWRLIWKHSURGXFWLVLQFRUUHFWO\
LQVWDOOHGRULQWKHHYHQWRIGDPDJH
FDXVHGE\H[WHUQDOLQIOXHQFHVIRUFH
PDMHXUHLQWHUYHQWLRQE\WKLUGSDUWLHVRU
WKHXVHRIQRQJHQXLQHFRPSRQHQWV
&21',7,216'(*$5$17,(6(59,&(
1RXVRFWUR\RQVVXUFKDTXHSURGXLWDQV
GHJDUDQWLH¢SDUWLUGHODGDWHGHOLYUDLVRQ
RXGHODPLVHHQVHUYLFHDX
FRQVRPPDWHXU GRFXPHQW«DXPR\HQ
GಬXQHIDFWXUHGಬXQERQGHJDUDQWLHRX
GಬXQMXVWLILFDWLIGಬDFKDW 1RWUHJDUDQWLH
FRXYUHOHVIUDLVGHPDLQVGಬRHXYUHVHWGH
G«SODFHPHQWDLQVLTXHOHVSLªFHVGH
UHFKDQJH
/HVFRQGLWLRQVGHJDUDQWLHQHVRQWSDV
YDODEOHVHQFDVGಬLQWHUYHQWLRQGಬXQWLHUV
QRQDXWRULV«GHOಬHPSORLGHSLªFHVGH
UHFKDQJHQRQRULJLQDOHVGಬHUUHXUVGH
PDQLHPHQWRXGಬLQVWDOODWLRQGXHV¢
OಬLQREVHUYDWLRQGXPRGHGಬHPSORLHWSRXU
GHVGRPPDJHVFDXV«VSDUGHVLQIOXHQFHV
H[W«ULHXUHVRXGHIRUFHPDMHXUH
*$5$17,(%(',1*81*(1.81'(1',(167
)¾UMHGHV3URGXNWJHZ¦KUHQ:LUDE
9HUNDXIE]Z/LHIHUGDWXPDQGHQ
(QGYHUEUDXFKHUHLQH*DUDQWLHYRQ
-DKUHQ $XVZHLVGXUFK*DUDQWLHVFKHLQ
)DNWXUDRGHU9HUNDXIVEHOHJ 'LH*DUDQWLHOHLVWXQJXPIDVVWGLH.RVWHQ
I¾U0DWHULDO$UEHLWVXQG5HLVH]HLW
'LH*DUDQWLHOHLVWXQJHQWI¦OOWEHL
1LFKWEHDFKWXQJGHU*HEUDXFKVDQZHLVXQJ
XQG%HWULHEVYRUVFKULIWHQXQVDFKJHUHFKWHU
,QVWDOODWLRQVRZLHEHL%HVFK¦GLJXQJ
GXUFK¦XVVHUH(LQIO¾VVHK¸KHUH*HZDOW
(LQJULIIH'ULWWHUXQG9HUZHQGXQJYRQ
1LFKW2ULJLQDO7HLOHQ
&21',=,21,',*$5$1=,$6(59,=,2&/,(17(/$
3HURJQLSURGRWWRFRQFHGLDPRXQD
JDUDQ]LDGLDQQLDSDUWLUHGDOODGDWDGL
FRQVHJQDRGDOODVXDPHVVDLQIXQ]LRQH
)DVWDWRODGDWDGHOODIDWWXUDGHO
FHUWLILFDWRGLJDUDQ]LDRGHOORVFRQWULQR
GಬDFTXLVWR 1HOODJDUDQ]LDVRQRFRPSUHVH
OHVSHVHGLPDQRGRSHUDGLYLDJJLRHGHO
PDWHULDOH
'DOODFRSHUWXUDVRQRHVFOXVLLO
ORJRUDPHQWRHGLGDQQLFDXVDWLGDDJHQWL
HVWHUQLLQWHUYHQWRGLWHU]LXWLOL]]RGL
ULFDPELQRQRULJLQDOLRGDOODLQRVVHUYDQ]D
GHOOHSUHVFUL]LRQLGಬLVWDOOD]LRQHHG
LVWUX]LRQLSHUOಬXVR
(10$7,5('(3527(&7,21'(/ (19,5211(0(17
5HF\FOH]OHVPDW«ULDX[SRUWDQWOHV\PEROH
'«SRVH]OHVHPEDOODJHVGDQVOHV
FRQWHQHXUVSU«YXV¢FHWHIIHW&RQWULEXH]
¢ODSURWHFWLRQGHO HQYLURQQHPHQWHW¢
YRWUHV«FXULW«UHF\FOH]YRVSURGXLWV
«OHFWULTXHVHW«OHFWURQLTXHV1HMHWH]SDV
OHVDSSDUHLOVSRUWDQWOHV\PEROH DYHF
OHVRUGXUHVP«QDJªUHV(PPHQH]XQWHO
SURGXLWGDQVYRWUHFHQWUHORFDOGH
UHF\FODJHRXFRQWDFWH]YRVVHUYLFHV
PXQLFLSDX[
22
3RXUOD6XLVVH
2»DOOHUDYHFOHVDSSDUHLOV
XVDJ«V"
3DUWRXWR»GHVDSSDUHLOVQHXIV
VRQWYHQGXVPDLVDXVVLGDQV
XQFHQWUHGHFROOHFWHRXXQH
HQWUHSULVHGHU«FXS«UDWLRQ
RIILFLHOV6(16
/DOLVWHGHVFHQWUHVGHFROOHFWH
RIILFLHOV6(16HVWGLVSRQLEOH
VRXVZZZHUHF\FOLQJFK
23
,1',&(
,QIRUPD]LRQLGLVLFXUH]]D
,VWUX]LRQLGLVLFXUH]]D
,QVWDOOD]LRQH
3DQQHOORGLFRQWUROOR
8WLOL]]RTXRWLGLDQR
&RQVLJOLHVXJJHULPHQWLXWLOL
3XOL]LDHFXUD
5LVROX]LRQHGHLSUREOHPL
5XPRUL
'DWLWHFQLFL
,QIRUPD]LRQLSHUJOLLVWLWXWLGLSURYD
&RQULVHUYDGLPRGLILFKH
9,6,7$,/1267526,72:(%3(5
5LFHYHUHFRQVLJOLVFDULFDUHLQRVWULRSXVFROLHOLPLQDUHHYHQWXDOLDQRPDOLH
RWWHQHUHLQIRUPD]LRQLVXOO DVVLVWHQ]DHODULSDUD]LRQH
KWWSVZZZIXVWFKUHSDUDWXU
,1)250$=,21,',6,&85(==$
/HJJHUHDWWHQWDPHQWHOHLVWUX]LRQLIRUQLWHSULPDGLLQVWDOODUH
HXWLOL]]DUHO DSSDUHFFKLDWXUD,SURGXWWRULQRQVRQR
UHVSRQVDELOLGLHYHQWXDOLOHVLRQLRGDQQLGHULYDQWLGD
XQ LQVWDOOD]LRQHRXQXVRVFRUUHWWL&RQVHUYDUHVHPSUHOH
LVWUX]LRQLLQXQOXRJRVLFXURHDFFHVVLELOHSHUSRWHUOH
FRQVXOWDUHLQIXWXUR
6LFXUH]]DGHLEDPELQLHGHOOHSHUVRQHYXOQHUDELOL
ವ
ವ
ವ
ವ
ವ
4XHVWDDSSDUHFFKLDWXUDSX´HVVHUHXVDWDGDEDPELQLD
SDUWLUHGDJOLDQQLHGDDGXOWLFRQOLPLWDWHFDSDFLW¢ILVLFKH
VHQVRULDOLRPHQWDOLRFRQVFDUVDHVSHULHQ]DRFRQRVFHQ]D
VXOO XVRGHOO DSSDUHFFKLDWXUDVRODPHQWHVHVRUYHJOLDWLRVH
LVWUXLWLUHODWLYDPHQWHDOO XVRGHOO DSSDUHFFKLDWXUDHVH
KDQQRFRPSUHVRLULVFKLFRLQYROWL
,EDPELQLGLHW¢FRPSUHVDWUDLHJOLDQQLSRVVRQR
FDULFDUHHVFDULFDUHO DSSDUHFFKLRDFRQGL]LRQHFKHVLDQR
VWDWLDGHJXDWDPHQWHLVWUXLWL
4XHVWDDSSDUHFFKLDWXUDSX´HVVHUHXVDWDGDSHUVRQHFRQ
GLVDELOLW¢GLIIXVHHFRPSOHVVHVHGHELWDPHQWHLVWUXLWH
7HQHUHORQWDQLGDOO DSSDUHFFKLDWXUDLEDPELQLDOGLVRWWRGHL
DQQLVHQRQFRVWDQWHPHQWHVXSHUYLVLRQDWL
1RQFRQVHQWLUHDLEDPELQLGLJLRFDUHFRQ
O DSSDUHFFKLDWXUD
24
ವ
ವ
,EDPELQLQRQGHYRQRHVHJXLUHLQWHUYHQWLGLSXOL]LDH
PDQXWHQ]LRQHVXOO DSSDUHFFKLDWXUDVHQ]DHVVHUH
VXSHUYLVLRQDWL
7HQHUHJOLLPEDOODJJLORQWDQRGDLEDPELQLHVPDOWLUOLLQ
PRGRDGHJXDWR
6LFXUH]]DJHQHUDOH
ವ
ವ
ವ
ವ
ವ
ವ
ವ
ವ
4XHVWDDSSDUHFFKLDWXUDªGHVWLQDWDDOO XVRGRPHVWLFRH
DSSOLFD]LRQLVLPLOLWUDFXL
ದ &DVHGLFDPSDJQDFXFLQHGLQHJR]LXIILFLHDOWUL
DPELHQWLGLODYRUR
ದ &OLHQWLGLKRWHOPRWHOEHGDQGEUHDNIDVWHDOWULDPELHQWL
UHVLGHQ]LDOL
3HUHYLWDUHODFRQWDPLQD]LRQHGHJOLDOLPHQWLULVSHWWDUHOH
VHJXHQWLLVWUX]LRQL
ದ QRQDSULUHODSRUWDSHUOXQJKLSHULRGL
ದ SXOLUHUHJRODUPHQWHOHVXSHUILFLFKHSRVVRQRYHQLUHD
FRQWDWWRFRQJOLDOLPHQWLHLVLVWHPLGLGUHQDJJLR
DFFHVVLELOL
ದ FRQVHUYDUHODFDUQHHLOSHVFHFUXGRLQFRQWHQLWRUL
DGHJXDWLLQIULJRULIHURLQPRGRFKHQRQYHQJDD
FRQWDWWRFRQDOWULDOLPHQWLHQRQJRFFLROLVXDOWULDOLPHQWL
$99(57(1=$9HULILFDUHFKHOHDSHUWXUHGLYHQWLOD]LRQH
VLDVXOO DSSDUHFFKLDWXUDFKHQHOODVWUXWWXUDGDLQFDVVR
VLDQROLEHUHGDRVWUX]LRQL
$99(57(1=$1RQXVDUHGLVSRVLWLYLHOHWWULFLRDOWULPH]]L
DUWLILFLDOLQRQUDFFRPDQGDWLGDOSURGXWWRUHDOORVFRSRGL
DFFHOHUDUHLOSURFHVVRGLVEULQDPHQWR
$99(57(1=$1RQGDQQHJJLDUHLOFLUFXLWRUHIULJHUDQWH
$99(57(1=$1RQXWLOL]]DUHDSSDUHFFKLDWXUHHOHWWULFKH
DOO LQWHUQRGHLFRPSDUWLGLFRQVHUYD]LRQHGHJOLDOLPHQWLDG
HFFH]LRQHGLTXHOOLFRQVLJOLDWLGDOFRVWUXWWRUH
1RQQHEXOL]]DUHDFTXDQ«XWLOL]]DUHYDSRUHSHUSXOLUH
O DSSDUHFFKLDWXUD
3XOLUHO DSSDUHFFKLDWXUDFRQXQSDQQRLQXPLGLWRHPRUELGR
8WLOL]]DUHVRORGHWHUJHQWLQHXWUL1RQXVDUHSURGRWWL
DEUDVLYLVSXJQHWWHDEUDVLYHVROYHQWLRGRJJHWWLPHWDOOLFL
25
ವ
ವ
ವ
4XDQGRO DSSDUHFFKLDWXUDUHVWDYXRWDSHUXQOXQJRSHULRGR
GLWHPSRVSHJQHUODVEULQDUODSXOLUODDVFLXJDUODHODVFLDUH
ODSRUWDDSHUWDSHUHYLWDUHODIRUPD]LRQHGLPXIIDDOVXR
LQWHUQR
1RQFRQVHUYDUHLQTXHVWDDSSDUHFFKLDWXUDVRVWDQ]H
HVSORVLYHFRPHERPEROHWWHVSUD\FRQWHQHQWLXQ
SURSHOOHQWHLQILDPPDELOH
6HLOFDYRGLDOLPHQWD]LRQHªGDQQHJJLDWRGHYHHVVHUH
VRVWLWXLWRGDOSURGXWWRUHGDO&HQWURGL$VVLVWHQ]D
$XWRUL]]DWRRGDXQDSHUVRQDTXDOLILFDWDSHUHYLWDUH
VLWXD]LRQLGLSHULFROR
,6758=,21,',6,&85(==$
,QVWDOOD]LRQH
$99(57(1=$/ಬLQVWDOOD]LRQH
GHOO DSSDUHFFKLDWXUDGHYH
HVVHUHHVHJXLWDGDSHUVRQDOH
TXDOLILFDWR
ವ 5LPXRYHUHWXWWLLPDWHULDOLGL
LPEDOODJJLR
ವ 1RQLQVWDOODUHRXWLOL]]DUH
O DSSDUHFFKLDWXUDVHªGDQQHJJLDWD
ವ 1RQXVDUHO DSSDUHFFKLDWXUDSULPDGL
LQVWDOODUODQHOODVWUXWWXUDDLQFDVVRGDWH
OHPLVXUHGLVLFXUH]]D
ವ $WWHQHUVLDOOHLVWUX]LRQLIRUQLWHLQVLHPH
DOO DSSDUHFFKLDWXUD
ವ 3UHVWDUHVHPSUHDWWHQ]LRQHLQIDVHGL
VSRVWDPHQWRGHOO DSSDUHFFKLDWXUDGDWR
FKHªSHVDQWH8VDUHVHPSUHLJXDQWL
GLVLFXUH]]DHOHFDO]DWXUHDGHJXDWH
ವ $VVLFXUDUVLFKHO DULDSRVVDFLUFRODUH
OLEHUDPHQWHDWWRUQRDOO DSSDUHFFKLDWXUD
ವ ,QIDVHGLSULPDLQVWDOOD]LRQHRGRSR
DYHUJLUDWRODSRUWDDWWHQGHUHDOPHQR
RUHSULPDGLFROOHJDUHO DSSDUHFFKLDWXUD
DOODVRUJHQWHGLDOLPHQWD]LRQH4XHVWR
VHUYHDFRQVHQWLUHDOO ROLRGLIOXLUH
QXRYDPHQWHQHOFRPSUHVVRUH
ವ 3ULPDGLHVHJXLUHHYHQWXDOLRSHUD]LRQL
VXOO DSSDUHFFKLDWXUD DGHVHPSLR
LQYHUWLUHODSRUWD WRJOLHUHODVSLQDGDOOD
SUHVDGLFRUUHQWH
ವ 1RQLQVWDOODUHO DSSDUHFFKLDWXUDLQ
SURVVLPLW¢GLUDGLDWRULIRUQHOOLIRUQLR
SLDQLGLFRWWXUD
ವ 1RQHVSRUUHO DSSDUHFFKLDWXUDDOOD
SLRJJLD
ವ 1RQLQVWDOODUHO DSSDUHFFKLDWXUDGRYH
VLDHVSRVWDDOODOXFHVRODUHGLUHWWD
ವ 1RQLQVWDOODUHTXHVWDDSSDUHFFKLDWXUD
LQDUHHWURSSRXPLGHRWURSSRIUHGGH
ವ 4XDQGRVLVSRVWDO DSSDUHFFKLDWXUD
VROOHYDUODGDOERUGRDQWHULRUHFRV®GD
QRQJUDIILDUHLOSDYLPHQWR
&ROOHJDPHQWRHOHWWULFR
$99(57(1=$5LVFKLRGL
LQFHQGLRHVFRVVDHOHWWULFD
$99(57(1=$,QIDVHGL
SRVL]LRQDPHQWR
GHOO DSSDUHFFKLDWXUDYHULILFDUH
FKHLOFDYRGLDOLPHQWD]LRQH
QRQVLDLQWUDSSRODWRR
GDQQHJJLDWR
$99(57(1=$1RQXWLOL]]DUH
SUHVHPXOWLSOHHSUROXQJKH
ವ / DSSDUHFFKLDWXUDGHYHGLVSRUUHGLXQD
PHVVDDWHUUD
ವ 9HULILFDUHFKHLSDUDPHWULVXOOD
WDUJKHWWDVLDQRFRPSDWLELOLFRQOH
LQGLFD]LRQLHOHWWULFKHGHOO DOLPHQWD]LRQH
26
ವ 8WLOL]]DUHVHPSUHXQDSUHVDHOHWWULFD
FRQFRQWDWWRGLSURWH]LRQH
FRUUHWWDPHQWHLQVWDOODWD
ವ $FFHUWDUVLGLQRQGDQQHJJLDUHL
FRPSRQHQWLHOHWWULFL DGHVODVSLQDGL
DOLPHQWD]LRQHLOFDYRGLDOLPHQWD]LRQH
LOFRPSUHVVRUH &RQWDWWDUHLO&HQWURGL
$VVLVWHQ]D$XWRUL]]DWRRXQHOHWWULFLVWD
SHUVRVWLWXLUHLFRPSRQHQWLHOHWWULFL
ವ ,OFDYRGLDOLPHQWD]LRQHGHYHULPDQHUH
VRWWRLOOLYHOORGHOODVSLQDGL
DOLPHQWD]LRQH
ವ ,QVHULUHODVSLQDGLDOLPHQWD]LRQHQHOOD
SUHVDVRORDOWHUPLQHGHOO LQVWDOOD]LRQH
9HULILFDUHFKHODVSLQDGLDOLPHQWD]LRQH
ULPDQJDDFFHVVLELOHGRSR
O LQVWDOOD]LRQH
ವ 1RQWLUDUHLOFDYRGLDOLPHQWD]LRQHSHU
VFROOHJDUHOಬDSSDUHFFKLDWXUD7LUDUH
VHPSUHGDOODVSLQD
8WLOL]]DUH
$99(57(1=$5LVFKLRGL
OHVLRQLVFRWWDWXUHRVFRVVH
HOHWWULFKH
/ DSSDUHFFKLDWXUDFRQWLHQHJDV
LQILDPPDELOHLVREXWDQR 5D XQJDV
QDWXUDOHFRQXQDOWROLYHOORGLFRPSDWLELOLW¢
DPELHQWDOH)DUHDWWHQ]LRQHDQRQ
GDQQHJJLDUHLOFLUFXLWRUHIULJHUDQWHFKH
FRQWLHQHLVREXWDQR
ವ 1RQPRGLILFDUHOHVSHFLILFKHWHFQLFKH
GHOO DSSDUHFFKLDWXUD
ವ 1RQLQWURGXUUHDSSDUHFFKLDWXUH
HOHWWULFKH DGHVJHODWLHUH
QHOO DSSDUHFFKLDWXUDVHQRQ
VSHFLILFDPHQWHFRQVHQWLWRGDO
SURGXWWRUH
ವ 1HOFDVRGLGDQQRDOFLUFXLWR
UHIULJHUDQWHDVVLFXUDUVLFKHQRQVL
VYLOXSSLQRILDPPHOLEHUHHVFLQWLOOHQHO
ORFDOH$HUDUHEHQHO DPELHQWH
ವ 1RQDSSRJJLDUHRJJHWWLLQFDQGHVFHQWL
VXOOHSDUWLLQSODVWLFD
GHOO DSSDUHFFKLDWXUD
ವ 1RQLQWURGXUUHEHYDQGHDQDOFROLFKHQHO
YDQRFRQJHODWRUH6LYHUU¢DFUHDUHXQD
ವ
ವ
ವ
ವ
ವ
ವ
ವ
SUHVVLRQHQHOFRQWHQLWRUHGHOOD
EHYDQGD
1RQFRQVHUYDUHJDVHOLTXLGL
LQILDPPDELOLQHOO DSSDUHFFKLDWXUD
1RQDSSRJJLDUHRWHQHUHOLTXLGLR
PDWHULDOLLQILDPPDELOLQ«RJJHWWL
IDFLOPHQWHLQFHQGLDELOL
VXOO DSSDUHFFKLDWXUDDOVXRLQWHUQRR
QHOOHLPPHGLDWHYLFLQDQ]H
1RQWRFFDUHLOFRPSUHVVRUHRLO
FRQGHQVDWRUH6RQRLQFDQGHVFHQWL
1RQWRJOLHUHRWRFFDUHJOLRJJHWWLQHO
YDQRFRQJHODWRUHFRQOHPDQLEDJQDWH
RXPLGH
1RQULFRQJHODUHGHOFLER
SUHFHGHQWHPHQWHVFRQJHODWR
$WWHQHUVLDOOHLVWUX]LRQLSHUOD
FRQVHUYD]LRQHULSRUWDWHVXOOD
FRQIH]LRQHGHOFLERVXUJHODWR
$YYROJHUHJOLDOLPHQWLFRQPDWHULDOLSHU
XVRDOLPHQWDUHSULPDGLPHWWHUOLQHOOR
VFRPSDUWRGHOFRQJHODWRUH
,OOXPLQD]LRQHLQWHUQD
$99(57(1=$3HULFRORGL
VFRVVHHOHWWULFKH
ವ 3HUTXDQWRULJXDUGDODODPSDGDROH
ODPSDGHDOO LQWHUQRGLTXHVWRSURGRWWRH
OHODPSDGHGLULFDPELRYHQGXWH
VHSDUDWDPHQWH4XHVWHODPSDGHVRQR
GHVWLQDWHDUHVLVWHUHDFRQGL]LRQL
ILVLFKHHVWUHPHQHJOLHOHWWURGRPHVWLFL
FRPHWHPSHUDWXUDYLEUD]LRQLXPLGLW¢
RVRQRGHVWLQDWHDVHJQDODUH
LQIRUPD]LRQLVXOORVWDWRRSHUDWLYR
GHOO DSSDUHFFKLR1RQVRQRGHVWLQDWH
DGHVVHUHXWLOL]]DWHLQDOWUHDSSOLFD]LRQL
HQRQVRQRDGDWWHSHUO LOOXPLQD]LRQHGL
DPELHQWLGRPHVWLFL
3XOL]LDHFXUD
$99(57(1=$9LªLOULVFKLR
GLIHULUVLRGDQQHJJLDUH
O DSSDUHFFKLDWXUD
ವ 3ULPDGLHVHJXLUHTXDOXQTXHLQWHUYHQWR
GLPDQXWHQ]LRQHVSHJQHUH
O DSSDUHFFKLDWXUDHGHVWUDUUHODVSLQD
GDOODSUHVD
27
ವ / XQLW¢UHIULJHUDQWHGLTXHVWD
DSSDUHFFKLDWXUDFRQWLHQHLGURFDUEXUL
/ಬXQLW¢GHYHHVVHUHULFDULFDWDHG
LVSH]LRQDWDHVFOXVLYDPHQWHGD
SHUVRQDOHTXDOLILFDWR
ವ &RQWUROODUHUHJRODUPHQWHORVFDULFR
GHOO DSSDUHFFKLDWXUDHVHQHFHVVDULR
SXOLUOR/ RVWUX]LRQHGHOORVFDULFRSX´
FDXVDUHXQGHSRVLWRGLDFTXDGL
VEULQDPHQWRVXOIRQGR
GHOO DSSDUHFFKLDWXUD
$VVLVWHQ]D7HFQLFD
ವ 3HUULSDUDUHO DSSDUHFFKLDWXUD
FRQWDWWDUHXQ&HQWURGL$VVLVWHQ]D
$XWRUL]]DWR8WLOL]]DUHHVFOXVLYDPHQWH
ULFDPELRULJLQDOL
ವ 7HQHUHSUHVHQWHFKHODULSDUD]LRQH
DXWRQRPDRQRQSURIHVVLRQDOHSRVVRQR
DYHUHFRQVHJXHQ]HVXOODVLFXUH]]DH
SRWUHEEHURLQYDOLGDUHODJDUDQ]LD
6PDOWLPHQWR
$99(57(1=$5LVFKLRGL
OHVLRQLRVRIIRFDPHQWR
ವ 6WDFFDUHODVSLQDGDOO DOLPHQWD]LRQH
HOHWWULFD
ವ 7DJOLDUHLOFDYRGLUHWHHVPDOWLUOR
ವ 5LPXRYHUHODSRUWDSHUHYLWDUHFKH
EDPELQLHDQLPDOLGRPHVWLFLULPDQJDQR
FKLXVLDOOಬLQWHUQRGHOOಬDSSDUHFFKLDWXUD
ವ ,OFLUFXLWRUHIULJHUDQWHHLPDWHULDOLGL
LVRODPHQWRGLTXHVWDDSSDUHFFKLDWXUD
ULVSHWWDQRO R]RQR
ವ /DVFKLXPDLVRODQWHFRQWLHQHJDV
LQILDPPDELOL&RQWDWWDUHOHDXWRULW¢
ORFDOLSHUULFHYHUHLQIRUPD]LRQLVXFRPH
VPDOWLUHFRUUHWWDPHQWH
O DSSDUHFFKLDWXUD
ವ 1RQGDQQHJJLDUHLFRPSRQHQWL
GHOO XQLW¢UHIULJHUDQWHFKHVLWURYDQR
YLFLQRDOORVFDPELDWRUHGLFDORUH
,167$//$=,21(
$99(57(1=$)DUH
ULIHULPHQWRDLFDSLWROLVXOOD
VLFXUH]]D
$99(57(1=$3HU
O LQVWDOOD]LRQHGHOO DSSDUHFFKLR
IDUHULIHULPHQWRDOGRFXPHQWR
GLLVWUX]LRQLSHUO LQVWDOOD]LRQH
$99(57(1=$)LVVDUH
O DSSDUHFFKLRVHFRQGROH
LVWUX]LRQLGLLQVWDOOD]LRQHSHU
HYLWDUHLOULVFKLRGLLQVWDELOLW¢
GHOO DSSDUHFFKLR
28
D3
D1
'LPHQVLRQL
D2
W3
A
H1
W1
B
W2
'LPHQVLRQLFRPSOHVVLYH{
+
PP
:
PP
'
PP
{OಬDOWH]]DODODUJKH]]DHODSURIRQGLW¢
GHOOಬDSSDUHFFKLDWXUDVHQ]DOಬLPSXJQDWXUD
HLSLHGLQL
6SD]LRQHFHVVDULRGXUDQWHOൄXVRt
+ $%
PP
:
PP
'
PP
tOಬDOWH]]DODODUJKH]]DHODSURIRQGLW¢
GHOOಬDSSDUHFFKLRFRPSUHVDODPDQLJOLD
SL»ORVSD]LRQHFHVVDULRSHUODOLEHUD
FLUFROD]LRQHGHOOಬDULDGLUDIIUHGGDPHQWR
6SD]LRFRPSOHVVLYRQHFHVVDULRGXUDQWH
OൄXVRu
+ $%
PP
:
PP
'
PP
uOಬDOWH]]DODODUJKH]]DHODSURIRQGLW¢
GHOOಬDSSDUHFFKLDWXUDFRPSUHVDOD
PDQLJOLDSL»ORVSD]LRQHFHVVDULRSHUOD
OLEHUDFLUFROD]LRQHGHOOಬDULDGL
UDIIUHGGDPHQWRSL»ORVSD]LRQHFHVVDULR
SHUFRQVHQWLUHOಬDSHUWXUDGHOODSRUWDFRQ
OಬDQJROD]LRQHPLQLPDFKHSHUPHWWHOD
ULPR]LRQHGLWXWWHOHDSSDUHFFKLDWXUH
LQWHUQH
/XRJR
3HUJDUDQWLUHODPLJOLRUHIXQ]LRQDOLW¢
GHOO DSSDUHFFKLDWXUDQRQVLGRYUHEEH
LQVWDOODUHO DSSDUHFFKLRQHOOHYLFLQDQ]H
GHOODIRQWHGLFDORUH IRUQRVWXIH
29
WHUPRVLIRQLIRUQHOOLRSLDQLGLFRWWXUD RLQ
XQOXRJRFRQOXFHVRODUHGLUHWWD
&RQWUROODUHFKHVXOUHWURGHOOಬDSSDUHFFKLR
VLDJDUDQWLWDXQಬDGHJXDWDFLUFROD]LRQH
GHOOಬDULD
4XHVWDDSSDUHFFKLDWXUDGHYHHVVHUH
LQVWDOODWDLQXQDSRVL]LRQHLQWHUQDDVFLXWWD
HEHQYHQWLODWD
4XHVWDDSSDUHFFKLDWXUDªGHVWLQDWDDG
HVVHUHXWLOL]]DWDDWHPSHUDWXUHDPELHQWH
FKHYDQQRGDr&Dr&
,OFRUUHWWRIXQ]LRQDPHQWR
GHOO DSSDUHFFKLDWXUDSX´
HVVHUHJDUDQWLWRVRORQHO
ULVSHWWRGHOOHWHPSHUDWXUH
LQGLFDWH
,QFDVRGLGXEELVXOOXRJRGL
LQVWDOOD]LRQH
GHOO DSSDUHFFKLDWXUDFRQWDWWDUH
LOYHQGLWRUHLOQRVWUR&HQWURGL
$VVLVWHQ]DRLOULYHQGLWRUH
DXWRUL]]DWRSL»YLFLQR
'HYHHVVHUHSRVVLELOH
VFROOHJDUHO DSSDUHFFKLDWXUD
GDOODUHWHHOHWWULFD(VHJXLUH
SHUFL´O LQVWDOOD]LRQHIDFHQGRV®
FKHODVSLQDULPDQJD
IDFLOPHQWHDFFHVVLELOH
GHOO LPSLDQWRGRPHVWLFRQRQªFROOHJDWD
DWHUUDDOODFFLDUHO DSSDUHFFKLDWXUDD
XQDSUHVDGLWHUUDVHSDUDWDLQ
FRQIRUPLW¢DOOHQRUPHLQYLJRUH
ULYROJHQGRVLDXQHOHWWULFLVWDTXDOLILFDWR
ವ ,OSURGXWWRUHGHFOLQDRJQLUHVSRQVDELOLW¢
TXDORUDOHVXGGHWWHSUHFDX]LRQLGL
VLFXUH]]DQRQYHQJDQRULVSHWWDWH
ವ 4XHVWDDSSDUHFFKLDWXUDªFRQIRUPH
DOOHGLUHWWLYH&((
5HTXLVLWLGLYHQWLOD]LRQH
$VVLFXUDUHXQIOXVVRG DULDVXIILFLHQWH
GLHWURO DSSDUHFFKLDWXUD
5 cm
min.
200 cm2
min.
200 cm2
$77(1=,21(&RQVXOWDUHOH
LVWUX]LRQLSHUO LQVWDOOD]LRQH
&ROOHJDPHQWRHOHWWULFR
3RVVLELOLW¢GLLQYHUWLUHODSRUWD
ವ 3ULPDGLLQVHULUHODVSLQDYHULILFDUHFKH
ODWHQVLRQHHODIUHTXHQ]DULSRUWDWH
VXOODWDUJKHWWDGLLGHQWLILFD]LRQH
FRUULVSRQGDQRDTXHOOHGHOO LPSLDQWR
GRPHVWLFR
ವ / DSSDUHFFKLDWXUDGHYHGLVSRUUHGLXQD
PHVVDDWHUUD/DVSLQDGHOFDYRGL
DOLPHQWD]LRQHªGRWDWDGLXQDSSRVLWR
FRQWDWWR6HODSUHVDGLFRUUHQWH
)DUHULIHULPHQWRDOGRFXPHQWRVHSDUDWR
FRQOHLVWUX]LRQLSHUO LQVWDOOD]LRQHH
O LQYHUVLRQHGHOODSRUWD
$77(1=,21(,QRJQLIDVHGL
LQYHUVLRQHGHOODSRUWD
SURWHJJHUHLOSDYLPHQWRGD
JUDIILFRQXQPDWHULDOH
UHVLVWHQWH
30
3$11(//2',&21752//2
1
2
6ILRUDUHLOUHJRODWRUHGHOODWHPSHUDWXUD
ILQRDFKHQRQYLHQHVHOH]LRQDWDOD
WHPSHUDWXUDULFKLHVWD
/DWHPSHUDWXUDLPSRVWDWDYHUU¢
UDJJLXQWDHQWURRUH'RSR
XQ LQWHUUX]LRQHGLFRUUHQWHOD
WHPSHUDWXUDLPSRVWDWDULPDQH
LQPHPRULD
)DVW)UHH]HIXQ]LRQH
4
3
/('LQGLFDWRUHGHOODWHPSHUDWXUD
)DVW)UHH]HLQGLFDWRUH
)DVW)UHH]HWDVWR
5HJRODWRUHGLWHPSHUDWXUD
7DVWR212))
$FFHQVLRQH
,QVHULUHODVSLQDQHOODSUHVDDPXUR
3UHPHUHLOWDVWRUHJRODWRUHGHOOD
WHPSHUDWXUDVHWXWWLL/('VRQRVSHQWL
6SHJQLPHQWR
&RQWLQXDUHDSUHPHUHLOWDVWRUHJRODWRUH
GHOODWHPSHUDWXUDSHUVHFRQGL
7XWWHOHVSLHVLVSHQJRQR
5HJROD]LRQHGHOODWHPSHUDWXUD
3HUDWWLYDUHO DSSDUHFFKLDWXUDVILRUDUHLO
UHJRODWRUHGHOODWHPSHUDWXUDILQRD
TXDQGRQRQVLDFFHQGHLO/('
FRUULVSRQGHQWHDOODWHPSHUDWXUD
GHVLGHUDWD/DVHOH]LRQHªSURJUHVVLYD
YDULDQGRGDr&Dr&
/ಬLPSRVWD]LRQHFRQVLJOLDWDªr&
6ILRUDUHLOUHJRODWRUHGHOOD
WHPSHUDWXUD
/DVSLDGHOODWHPSHUDWXUDDWWXDOH
ODPSHJJLD2JQLYROWDFKHVLVILRUDLO
UHJRODWRUHGHOODWHPSHUDWXUD
O LPSRVWD]LRQHFDPELDGLXQDSRVL]LRQH,O
/('FRUULVSRQGHQWHODPSHJJLDSHUXQ
LVWDQWH
/DIXQ]LRQH)DVW)UHH]HYLHQHXWLOL]]DWD
SHUHVHJXLUHLOSUHFRQJHODPHQWRHLO
FRQJHODPHQWRUDSLGRLQVHTXHQ]DGHO
YDQRFRQJHODWRUH$FFHOHUDLO
FRQJHODPHQWRGLDOLPHQWLIUHVFKLHDO
WHPSRVWHVVRSURWHJJHJOLDOLPHQWLJL¢
FRQVHUYDWLQHOORVFRPSDUWRGD
ULVFDOGDPHQWLLQGHVLGHUDWL
3HUFRQJHODUHDOLPHQWLIUHVFKL
DWWLYDUHODIXQ]LRQH)DVW)UHH]H
DOPHQRRUHSULPDGL
SRVL]LRQDUHJOLDOLPHQWLSHU
FRPSOHWDUHLOSUHFRQJHODPHQWR
3HUDWWLYDUHODIXQ]LRQH)DVW)UHH]H
SUHPHUHLOSXOVDQWH)DVW)UHH]H
/ LQGLFDWRUH)DVW)UHH]HVLDFFHQGH
4XHVWDIXQ]LRQHVLDUUHVWD
DXWRPDWLFDPHQWHGRSRRUH
SRVVLELOHGLVDWWLYDUHODIXQ]LRQHLQ
TXDOVLDVLPRPHQWRSUHPHQGR
QXRYDPHQWHLOWDVWR)DVW)UHH]H/DVSLD
)DVW)UHH]HVLVSHJQH
$OODUPHSRUWDDSHUWD
6HODSRUWDGHOIULJRULIHURYLHQHODVFLDWD
DSHUWDSHUFLUFDPLQXWLVLDYYLDO DOODUPH
DFXVWLFR
'XUDQWHO DOODUPHLOVHJQDOHDFXVWLFRSX´
HVVHUHGLVDWWLYDWRSUHPHQGRTXDOVLDVL
WDVWR,OVXRQRVLVSHJQHDXWRPDWLFDPHQWH
GRSRFLUFDXQ RUDSHUHYLWDUHGLGLVWXUEDUH
/ DOODUPHVLGLVDWWLYDGRSRODFKLXVXUD
GHOODSRUWD
31
87,/,==24827,',$12
3RVL]LRQDPHQWRGHLULSLDQLGHOOD
SRUWD
3HUFRQVHQWLUHODFRQVHUYD]LRQHGL
FRQIH]LRQLSHUDOLPHQWLGLYDULHGLPHQVLRQL
LULSLDQLSHUSRUWDSRVVRQRHVVHUH
SRVL]LRQDWLDGDOWH]]HGLIIHUHQWL
7LUDUHJUDGXDOPHQWHLOULSLDQRILQRD
FKHQRQVLOLEHUD
5LSRVL]LRQDUHFRPHQHFHVVDULR
3HUJDUDQWLUHXQDFRUUHWWD
FLUFROD]LRQHGHOO DULDQRQ
VSRVWDUHLOULSLDQRGLYHWUR
SRVWRVRSUDLOFDVVHWWRGHOOH
YHUGXUH
&DVVHWWRSHUYHUGXUD
1HOODSDUWHLQIHULRUHGHOO DSSDUHFFKLDWXUDª
SUHVHQWHXQFDVVHWWRVSHFLDOHDGDWWRDOOD
FRQVHUYD]LRQHGLIUXWWDHYHUGXUD
&RQJHODPHQWRGLDOLPHQWL
IUHVFKL
/RVFRPSDUWRFRQJHODWRUHªDGDWWRDO
FRQJHODPHQWRGLDOLPHQWLIUHVFKLHDOOD
FRQVHUYD]LRQHGLDOLPHQWLFRQJHODWLH
VXUJHODWLDOXQJR
3HUFRQJHODUHDOLPHQWLIUHVFKLDWWLYDUHOD
)XQ]LRQH)DVW)UHH]HDOPHQRRUHSULPD
GLLQWURGXUOLQHOYDQRFRQJHODWRUH
&RQVHUYDUHJOLDOLPHQWLIUHVFKLGLVWULEXLWL
XQLIRUPHPHQWHLQWXWWLJOLVFRPSDUWLR
FDVVHWWL
/DTXDQWLW¢PDVVLPDGLFLERFKHSX´
HVVHUHFRQJHODWDVHQ]DOಬDJJLXQWDGLDOWUL
DOLPHQWLIUHVFKLSHURUHªLQGLFDWDVXOOD
WDUJKHWWD XQಬHWLFKHWWDVLWXDWDDOOಬLQWHUQR
GHOOಬDSSDUHFFKLDWXUD 5LSLDQLULPRYLELOL
/HJXLGHSUHVHQWLVXOOHSDUHWLGHO
IULJRULIHURSHUPHWWRQRGLSRVL]LRQDUHL
ULSLDQLDGLYHUVHDOWH]]H
$OWHUPLQHGHOSURFHVVRGLFRQJHODPHQWR
OಬDSSDUHFFKLDWXUDULWRUQDDXWRPDWLFDPHQWH
DOODSUHFHGHQWHLPSRVWD]LRQHGHOOD
WHPSHUDWXUD YHGHUHODಯ)XQ]LRQH
)DVW)UHH]Hರ ,QTXHVWDFRQGL]LRQHOD
WHPSHUDWXUDDOOಬLQWHUQRGHO
IULJRULIHURSRWUHEEHFDPELDUH
OHJJHUPHQWH
&RQVHUYD]LRQHGLFLELFRQJHODWL
$OSULPRDYYLRRGRSRXQSHULRGRGLQRQ
XWLOL]]RODVFLDUHLQIXQ]LRQH
OಬDSSDUHFFKLDWXUDSHUDOPHQRRUH
DWWLYDQGRODIXQ]LRQH)DVW)UHH]HSULPDGL
LQWURGXUUHJOLDOLPHQWL
32
,OFLERGHYHWURYDUVLDGXQDGLVWDQ]DGL
PPGDOODSRUWD
$77(1=,21(,QFDVRGL
VFRQJHODPHQWRDFFLGHQWDOHDG
HVHPSLRDFDXVDGL
XQಬLQWHUUX]LRQHGLFRUUHQWHVH
ODFRUUHQWHªULPDVWDVSHQWDSL»
DOXQJRGHOYDORUHLQGLFDWRVXOOD
WDUJKHWWDVRWWRಯWHPSRGL
ULVDOLWDರJOLDOLPHQWLVFRQJHODWL
GHYRQRHVVHUHFRQVXPDWL
UDSLGDPHQWHRFRWWL
LPPHGLDWDPHQWHSRL
UDIIUHGGDWLHTXLQGLULFRQJHODWL
6FRQJHODPHQWR
,FLELVXUJHODWLRFRQJHODWLSULPDGLHVVHUH
FRQVXPDWLSRVVRQRHVVHUHVFRQJHODWLLQ
IULJRULIHURRDOO LQWHUQRGLXQVDFFKHWWRGL
SODVWLFDVRWWRO DFTXDIUHGGD
4XHVWDRSHUD]LRQHGLSHQGHGDOWHPSRD
GLVSRVL]LRQHHGDOWLSRGLDOLPHQWR/H
SLFFROHSRU]LRQLSRVVRQRHVVHUHFXFLQDWH
GLUHWWDPHQWHVHQ]DHVVHUHSULPD
VFRQJHODWL
3URGX]LRQHGLFXEHWWLGL
JKLDFFLR
4XHVWDDSSDUHFFKLDWXUDªGRWDWDGLXQDR
SL»YDVFKHWWHSHUODSURGX]LRQHGLFXEHWWL
GLJKLDFFLR
1RQXVDUHVWUXPHQWLPHWDOOLFL
SHUHVWUDUUHOHYDVFKHWWHGDO
YDQRFRQJHODWRUH
5LHPSLUHGಬDFTXDOHYDVFKHWWH
,QWURGXUUHOHYDVFKHWWHSHULOJKLDFFLR
QHOYDQRFRQJHODWRUH
&216,*/,(68**(5,0(17,87,/,
&RQVLJOLSHULOULVSDUPLR
HQHUJHWLFR
ವ )ULJRULIHUR/ಬXVRSL»HIILFLHQWH
GHOOಬHQHUJLDªJDUDQWLWRGDOOD
FRQILJXUD]LRQHFRQLFDVVHWWLQHOODSDUWH
LQIHULRUHGHOOಬDSSDUHFFKLDWXUDHLULSLDQL
GLVWULEXLWLXQLIRUPHPHQWH/DSRVL]LRQH
GHJOLVFRPSDUWLVXOODSRUWDQRQLQIOXLVFH
VXOFRQVXPRHQHUJHWLFR
ವ 1RQDSULUHIUHTXHQWHPHQWHODSRUWDH
OLPLWDUHLOSL»SRVVLELOHLWHPSLGL
DSHUWXUD
ವ &RQJHODWRUH3L»IUHGGDª
OಬLPSRVWD]LRQHGHOODWHPSHUDWXUD
PDJJLRUHªLOFRQVXPRGLHQHUJLD
ವ )ULJRULIHUR1RQLPSRVWDUHXQD
WHPSHUDWXUDWURSSRDOWDSHUULVSDUPLDUH
HQHUJLDDPHQRFKHQRQVLDULFKLHVWD
GDOOHFDUDWWHULVWLFKHGHOOಬDOLPHQWR
ವ 6HODWHPSHUDWXUDDPELHQWHªHOHYDWD
LOFRQWUROORGHOODWHPSHUDWXUDª
LPSRVWDWRVXXQYDORUHEDVVRH
OಬDSSDUHFFKLDWXUDªDSLHQRFDULFRLO
FRPSUHVVRUHSX´IXQ]LRQDUHLQ
PDQLHUDLQLQWHUURWWDFDXVDQGROD
IRUPD]LRQHGLEULQDRGLJKLDFFLR
VXOOಬHYDSRUDWRUH,QTXHVWRFDVR
LPSRVWDUHLOFRQWUROORGHOODWHPSHUDWXUD
VXXQDSRVL]LRQHSL»HOHYDWDSHU
FRQVHQWLUHORVEULQDPHQWRDXWRPDWLFRH
ULGXUUHFRV®LOFRQVXPRGLHQHUJLD
ವ *DUDQWLUHXQDEXRQDYHQWLOD]LRQH1RQ
FRSULUHOHJULJOLHRLIRULGLYHQWLOD]LRQH
&RQVLJOLSHULOFRQJHODPHQWR
ವ $WWLYDUHODIXQ]LRQH)DVW)UHH]HDOPHQR
RUHSULPDGLLQVHULUHJOLDOLPHQWLQHO
YDQRFRQJHODWRUH
ವ 3ULPDGLFRQJHODUHDYYROJHUHHVLJLOODUH
JOLDOLPHQWLIUHVFKLLQIRJOLRGLDOOXPLQLR
SHOOLFRODGLSODVWLFDRVDFFKHWWL
FRQWHQLWRULHUPHWLFLFRQFRSHUFKLR
ವ 3HUFRQJHODUHHVFRQJHODUHLQPRGR
SL»HIILFDFHVXGGLYLGHUHJOLDOLPHQWLLQ
SLFFROHSRU]LRQL
ವ 6LUDFFRPDQGDGLPHWWHUHHWLFKHWWHH
GDWHVXWXWWLJOLDOLPHQWLVXUJHODWL
4XHVWRDLXWHU¢DLGHQWLILFDUHJOLDOLPHQWL
HDVDSHUHTXDQGRGHYRQRHVVHUH
XWLOL]]DWLSULPDGHOORURGHWHULRUDPHQWR
ವ ,OFLERGHYHHVVHUHIUHVFRTXDQGR
YLHQHFRQJHODWRSHUSUHVHUYDUQHOD
EXRQDTXDOLW¢6RSUDWWXWWRIUXWWDH
33
ವ
ವ
ವ
ವ
ವ
YHUGXUDGRYUHEEHURHVVHUHFRQJHODWH
GRSRLOUDFFROWRSHUSUHVHUYDUHWXWWHOH
ORURVRVWDQ]HQXWULWLYH
1RQFRQJHODUHERWWLJOLHRODWWLQHFRQ
OLTXLGLLQSDUWLFRODUHEHYDQGH
FRQWHQHQWLDQLGULGHFDUERQLFD
SRWUHEEHURHVSORGHUHGXUDQWHLO
FRQJHODPHQWR
1RQPHWWHUHFLELFDOGLQHOFRQJHODWRUH
5DIIUHGGDUOLDWHPSHUDWXUDDPELHQWH
SULPDGLFROORFDUOLDOO LQWHUQRGHOOR
VFRPSDUWR
$OILQHGLHYLWDUHJOLDXPHQWLGL
WHPSHUDWXUDGLDOLPHQWLJL¢FRQJHODWL
QRQPHWWHUHDOLPHQWLIUHVFKLVFRQJHODWL
QHOOHLPPHGLDWHYLFLQDQ]H&ROORFDUHJOL
DOLPHQWLDWHPSHUDWXUDDPELHQWHQHOOD
SDUWHGHOORVFRPSDUWRGHOFRQJHODWRUH
GRYHQRQFLVRQRFLELVXUJHODWL
1RQPDQJLDUHLFXEHWWLGLJKLDFFLRL
JKLDFFLROLRJUDQLWHVXELWRGRSRDYHUOL
WROWLGDOFRQJHODWRUH5LVFKLRGLVLQWRPL
GDFRQJHODPHQWR
1RQFRQJHODUHQXRYDPHQWHLOFLER
VFRQJHODWR6HLOFLERVLªVFRQJHODWR
FXRFHUORUDIIUHGGDUORHSRLFRQJHODUOR
&RQVLJOLSHUODFRQVHUYD]LRQHGL
FLELFRQJHODWL
ವ ,OYDQRFRQJHODWRUHªTXHOOR
FRQWUDVVHJQDWRFRQ
ವ /ಬLPSRVWD]LRQHGHOODWHPSHUDWXUD
PHGLDJDUDQWLVFHXQDEXRQD
FRQVHUYD]LRQHGHLFLELFRQJHODWL
/ಬLPSRVWD]LRQHGLXQDWHPSHUDWXUDSL»
HOHYDWDDOOಬLQWHUQRGHOOಬDSSDUHFFKLDWXUD
SX´SRUWDUHDXQDPLQRUHGXUDWDGL
FRQVHUYD]LRQH
ವ /ಬLQWHURVFRPSDUWRGHOFRQJHODWRUHª
DGDWWRDOODFRQVHUYD]LRQHGLSURGRWWL
DOLPHQWDULVXUJHODWL
ವ /DVFLDUHDEEDVWDQ]DVSD]LRLQWRUQRDO
FLERSHUSHUPHWWHUHDOOಬDULDGLFLUFRODUH
OLEHUDPHQWH
ವ 3HUXQDFRQVHUYD]LRQHDGHJXDWDIDUH
ULIHULPHQWRDOOಬHWLFKHWWDVXOODFRQIH]LRQH
GHOOಬDOLPHQWRSHUYHGHUHODGXUDWDGL
FRQVHUYD]LRQHGHJOLDOLPHQWL
ವ LPSRUWDQWHDYYROJHUHLOFLERLQPRGR
WDOHGDHYLWDUHFKHOಬDFTXDOಬXPLGLW¢R
ODFRQGHQVDSHQHWULQRDOOಬLQWHUQR
&RQVLJOLSHUOൄDFTXLVWR
'RSRDYHUDFTXLVWDWRDOLPHQWL
ವ $VVLFXUDUVLFKHO LPEDOODJJLRQRQVLD
GDQQHJJLDWRLOFLERSRWUHEEH
GHWHULRUDUVL6HODFRQIH]LRQHªJRQILD
REDJQDWDSRWUHEEHQRQHVVHUHVWDWD
FRQVHUYDWDQHOOHFRQGL]LRQLRWWLPDOLHOR
VEULQDPHQWRSRWUHEEHHVVHUHJL¢
LQL]LDWR
ವ 3HUOLPLWDUHLOSURFHVVRGL
VFRQJHODPHQWRDFTXLVWDUHLSURGRWWL
VXUJHODWLDOODILQHGHOODVSHVDH
WUDVSRUWDUOLLQXQVDFFKHWWRWHUPLFRH
LVRODWR
ವ 0HWWHWHLVXUJHODWLLPPHGLDWDPHQWHQHO
FRQJHODWRUHGRSRHVVHUHWRUQDWLGDO
QHJR]LR
ವ 6HLOFLERVLªVFRQJHODWRDQFKHVROR
SDU]LDOPHQWHQRQFRQJHODUORGLQXRYR
&RQVXPDUORLOSULPDSRVVLELOH
ವ 5LVSHWWDUHODGDWDGLVFDGHQ]DHOH
LQIRUPD]LRQLGLFRQVHUYD]LRQHVXOOD
FRQIH]LRQH
3HULRGRGLFRQVHUYD]LRQHSHUVFRPSDUWRFRQJHODWRUH
7LSRGLFLER
3HULRGRGLFRQVHU഻
YD]LRQH PHVL
3DQH
)UXWWD DHFFH]LRQHGHJOLDJUXPL
9HUGXUH
$YDQ]LVHQ]DFDUQH
34
7LSRGLFLER
3HULRGRGLFRQVHU഻
YD]LRQH PHVL
/DWWLFLQL
%XUUR
)RUPDJJLRDSDVWDPROOH DGHVPR]]DUHOOD
)RUPDJJLRDSDVWDGXUD DGHVSDUPLJLDQRFKHGGDU
)UXWWLGLPDUH
3HVFLJUDVVL DGHVVDOPRQHVJRPEUR
3HVFLPDJUL DGHVPHUOX]]RSODWHVVD
*DPEHUHWWL
9RQJROHHFR]]HVJXVFLDWH
3HVFHFRWWR
&DUQH
3ROODPH
0DQ]R
0DLDOH
$JQHOOR
6DOVLFFLD
3URVFLXWWR
$YDQ]LFRQFDUQH
&RQVLJOLSHUODUHIULJHUD]LRQH
GHLFLELIUHVFKL
ವ 8QDEXRQDLPSRVWD]LRQHGHOOD
WHPSHUDWXUDFKHJDUDQWLVFHOD
FRQVHUYD]LRQHGHJOLDOLPHQWLIUHVFKLª
XQDWHPSHUDWXUDLQIHULRUHRXJXDOHD
r&
/ LPSRVWD]LRQHGLXQDWHPSHUDWXUDSL»
HOHYDWDDOO LQWHUQRGHOO DSSDUHFFKLRSX´
SRUWDUHDXQDPLQRUHGXUDWDGL
FRQVHUYD]LRQHGHJOLDOLPHQWL
ವ &RSULUHLOFLERFRQXQLPEDOODJJLRSHU
SUHVHUYDUQHODIUHVFKH]]DHO DURPD
ವ 8WLOL]]DUHVHPSUHFRQWHQLWRULFKLXVLSHU
OLTXLGLHSHUDOLPHQWLSHUHYLWDUHVDSRUL
RRGRULQHOORVFRPSDUWR
ವ 3HUHYLWDUHODFRQWDPLQD]LRQH
LQFURFLDWDWUDFLERFRWWRHFUXGRFRSULUH
LOFLERFRWWRHVHSDUDUORGDTXHOOR
FUXGR
ವ 6LFRQVLJOLDGLVFRQJHODUHLOFLER
DOO LQWHUQRGHOIULJRULIHUR
ವ 1RQLQVHULUHFLERFDOGRDOO LQWHUQR
GHOO DSSDUHFFKLDWXUD$VVLFXUDUVLFKHVL
VLDUDIIUHGGDWRDWHPSHUDWXUDDPELHQWH
SULPDGLLQVHULUOR
ವ 3HUHYLWDUHORVSUHFRGLFLERODQXRYD
VFRUWDGLFLERGRYUHEEHHVVHUHVHPSUH
FROORFDWDGLHWURDTXHOODYHFFKLD
&RQVLJOLSHUODUHIULJHUD]LRQH
GHLFLEL
ವ ,OFRPSDUWRDOLPHQWLIUHVFKLªTXHOOR
FRQWUDVVHJQDWR VXOODWDUJKHWWDGHLGDWL
FRQ
ವ &DUQH WXWWLLWLSL GHYHHVVHUHDYYROWD
LQDSSRVLWLVDFFKHWWLHFROORFDWDVXO
ULSLDQRGLYHWURVRSUDLOFDVVHWWRGHOOH
YHUGXUH/DFDUQHSX´HVVHUH
FRQVHUYDWDDOPDVVLPRSHUJLRUQL
ವ )UXWWDHYHUGXUDSXOLUHDFFXUDWDPHQWH
HOLPLQDUHORVSRUFR HULSRUUH
QHOOಬDSSRVLWRFDVVHWWR FDVVHWWRSHUOD
YHUGXUD ವ 6LFRQVLJOLDGLQRQFRQVHUYDUHLQ
IULJRULIHURLIUXWWLHVRWLFLFRPHEDQDQH
PDQJKLSDSDLHHFF
35
ವ /HYHUGXUHFRPHSRPRGRULSDWDWH
FLSROOHHDJOLRQRQGHYRQRHVVHUH
FRQVHUYDWHLQIULJRULIHUR
ವ %XUURHIRUPDJJLRULSRUOLLQXQDSSRVLWR
FRQWHQLWRUHVRWWRYXRWRRSSXUH
DYYROJHUOLLQXQIRJOLRGLDOOXPLQLRRLQ
XQVDFFKHWWRGLSROLHWLOHQHSHUOLPLWDUHLO
SL»SRVVLELOHODSUHVHQ]DGLDULD
ವ %RWWLJOLHFKLXGHUOHFRQXQWDSSRH
FRQVHUYDUOHQHOULSLDQRSRUWDERWWLJOLH
GHOODSRUWDR VHSUHVHQWH VXOODJULJOLD
SRUWDERWWLJOLH
ವ )DUHVHPSUHULIHULPHQWRDOODGDWDGL
VFDGHQ]DGHLSURGRWWLSHUVDSHUHSHU
TXDQWRWHPSRFRQVHUYDUOL
38/,=,$(&85$
$99(57(1=$)DUH
ULIHULPHQWRDLFDSLWROLVXOOD
VLFXUH]]D
3XOL]LDGHOO LQWHUQR
3ULPDGLXWLOL]]DUHO DSSDUHFFKLDWXUDSHUOD
SULPDYROWDODYDUHO LQWHUQRHJOLDFFHVVRUL
FRQDFTXDWLHSLGDHVDSRQHQHXWURSHU
HOLPLQDUHLOWLSLFRRGRUHGHLSURGRWWLQXRYL
TXLQGLDVFLXJDUHDFFXUDWDPHQWH
$77(1=,21(1RQXVDUH
GHWHUJHQWLSROYHULDEUDVLYH
GHWHUJHQWLDEDVHGLFORURRG
ROLRGDWRFKHSRWUHEEHUR
GDQQHJJLDUHOHILQLWXUH
IULJRULIHUR/ DFTXDGLVEULQDPHQWRJLXQJH
DWWUDYHUVRXQFRQGRWWRLQXQDSSRVLWR
UHFLSLHQWHSRVWRVXOUHWUR
GHOO DSSDUHFFKLDWXUDVRSUDLO
PRWRFRPSUHVVRUHGRYHHYDSRUD
LPSRUWDQWHSXOLUHSHULRGLFDPHQWHLOIRUR
GLVFDULFRGHOO DFTXDGLVEULQDPHQWR
VLWXDWRDOFHQWURGHOFDQDOHVXOODSDUHWH
SRVWHULRUHSHUHYLWDUHFKHO DFTXD
IXRULHVFDVXJOLDOLPHQWL
$WDOILQHXVDUHLOSXOLVFLWXERIRUQLWRLQ
GRWD]LRQHFRQOಬDSSDUHFFKLDWXUD
$77(1=,21(*OLDFFHVVRULH
LFRPSRQHQWL
GHOOಬDSSDUHFFKLDWXUDQRQVRQR
ODYDELOLLQODYDVWRYLJOLH
3XOL]LDSHULRGLFD
/ DSSDUHFFKLDWXUDGHYHHVVHUHSXOLWD
UHJRODUPHQWH
/DYDUHO LQWHUQRHJOLDFFHVVRULFRQ
DFTXDWLHSLGDHVDSRQHQHXWUR
,VSH]LRQDUHUHJRODUPHQWHOH
JXDUQL]LRQLGHOODSRUWDHGHOLPLQDUH
FRQXQSDQQRXPLGRWUDFFHGLVSRUFRH
UHVLGXL
5LVFLDFTXDUHHDVFLXJDUH
DFFXUDWDPHQWH
6EULQDPHQWRGHOIULJRULIHUR
'XUDQWHLOQRUPDOHXWLOL]]RODEULQDYLHQH
HOLPLQDWDDXWRPDWLFDPHQWH
GDOO HYDSRUDWRUHGHOORVFRPSDUWRGHO
6EULQDPHQWRGHOFRQJHODWRUH
$77(1=,21(3HUULPXRYHUH
ODEULQDGDOO HYDSRUDWRUHQRQ
XVDUHXWHQVLOLPHWDOOLFLDSSXQWLWL
FKHSRVVDQRGDQQHJJLDUOR
1RQXVDUHGLVSRVLWLYLPHFFDQLFL
RDOWULPH]]LDUWLILFLDOLQRQ
UDFFRPDQGDWLGDOSURGXWWRUH
DOORVFRSRGLDFFHOHUDUHLO
SURFHVVRGLVEULQDPHQWR
36
&LUFDRUHSULPDGHOOR
VEULQDPHQWRLPSRVWDUHXQD
WHPSHUDWXUDSL»EDVVDSHU
DFFXPXODUHXQDULVHUYDGL
IUHGGRVXIILFLHQWHLQFDVRGL
HYHQWXDOHLQWHUUX]LRQHGHO
IXQ]LRQDPHQWR
QRUPDOHFKHVXLULSLDQLGHOFRQJHODWRUH
HLQWRUQRDOORVFRPSDUWRVXSHULRUHVLIRUPL
FROWHPSRXQRVWUDWRGLEULQD
4XDQGRWDOHVWUDWRUDJJLXQJHXQR
VSHVVRUHGLFDPPLOYDQR
FRQJHODWRUHGHYHHVVHUHVEULQDWR
3HUDFFHOHUDUHLOSURFHVVRGL
VEULQDPHQWRFROORFDUHXQUHFLSLHQWHGL
DFTXDFDOGDQHOYDQRFRQJHODWRUH
5LPXRYHUHLQROWUHLSH]]LGLJKLDFFLR
FKHVLVWDFFDQRSULPDFKHOR
VEULQDPHQWRVLDFRPSOHWR
8QDYROWDFRPSOHWDWRORVEULQDPHQWR
DVFLXJDUHDFFXUDWDPHQWHO LQWHUQR
$FFHQGHUHO DSSDUHFFKLDWXUDH
FKLXGHUHODSRUWD
,PSRVWDUHLOUHJRODWRUHGLWHPSHUDWXUD
DOOLYHOORPDVVLPRGLUDIIUHGGDPHQWRH
ODVFLDUHLQIXQ]LRQHO DSSDUHFFKLDWXUD
SHUDOPHQRWUHRUH
6RORVXFFHVVLYDPHQWHULPHWWHUHJOL
DOLPHQWLQHOORVFRPSDUWRFRQJHODWRUH
6SHJQHUHO DSSDUHFFKLDWXUDRHVWUDUUH
ODVSLQDGHOODSUHVDDSDUHWH
5LPXRYHUHJOLDOLPHQWLFRQVHUYDWLH
ULSRUOLLQXQOXRJRIUHVFR
3HULRGLGLQRQXWLOL]]R
$77(1=,21(8Q
LQQDO]DPHQWRGHOOD
WHPSHUDWXUDGHLVXUJHODWL
GXUDQWHORVEULQDPHQWRSX´
ULGXUUHODORURGXUDWDGL
FRQVHUYD]LRQH
1RQWRFFDUHLOFLER
FRQJHODWRFRQOHPDQL
EDJQDWH/HPDQL
SRWUHEEHURDGHULUH
DOO DOLPHQWRFRQJHODWR
/DVFLDUHODSRUWDDSHUWD3URWHJJHUHLO
SDYLPHQWRGDOO DFTXDGLVEULQDPHQWR
DGHVHPSLRFRQXQSDQQRRXQ
UHFLSLHQWHSLDWWR
6FROOHJDUHO DSSDUHFFKLDWXUDGDOODUHWH
HOHWWULFD
(VWUDUUHWXWWLJOLDOLPHQWL
6EULQDUHO DSSDUHFFKLDWXUD
3XOLUHO DSSDUHFFKLDWXUDHWXWWLJOL
DFFHVVRUL
/DVFLDUHODSRUWHVRFFKLXVDHSHU
HYLWDUHODIRUPD]LRQHGLRGRUL
VJUDGHYROL
6HO DSSDUHFFKLDWXUDQRQYLHQHXWLOL]]DWD
SHUXQOXQJRSHULRGRDGRWWDUHOHVHJXHQWL
SUHFDX]LRQL
5,62/8=,21('(,352%/(0,
$99(57(1=$)DUH
ULIHULPHQWRDLFDSLWROLVXOOD
VLFXUH]]D
&RVDIDUHVH
3UREOHPD
&DXVDSRVVLELOH
6ROX]LRQH
/ಬDSSDUHFFKLDWXUDQRQIXQಣ
]LRQD
/ಬDSSDUHFFKLDWXUDªVSHQWD
$FFHQGHUHO DSSDUHFFKLDWXಣ
UD
37
3UREOHPD
&DXVDSRVVLELOH
6ROX]LRQH
/DVSLQDQRQªFROOHJDWD
FRUUHWWDPHQWHDOODSUHVD
HOHWWULFD
&ROOHJDUHFRUUHWWDPHQWHOD
VSLQDDOODSUHVDHOHWWULFD
/DSUHVDHOHWWULFDQRQKD
WHQVLRQH
&ROOHJDUHXQಬDSSDUHFFKLDWXಣ
UDHOHWWULFDGLYHUVDDOODSUHಣ
VDGLDOLPHQWD]LRQH&RQWDWಣ
WDUHXQHOHWWULFLVWDTXDOLILFDಣ
WR
/ಬDSSDUHFFKLDWXUDªUXPRURಣ
VD
/ಬDSSDUHFFKLDWXUDQRQª
VXSSRUWDWDFRUUHWWDPHQWH
&RQWUROODUHFKHO DSSDUHFಣ
FKLDWXUDDEELDXQDSRVL]LRQH
VWDELOH
/ DOODUPHDFXVWLFRRYLVLYRª
DWWLYR
,OPRELOHWWRªVWDWRDFFHVRGL
UHFHQWH
)DUHULIHULPHQWRDOODVH]LRQH
ಯ$OODUPHSRUWDDSHUWDರRಯ$Oಣ
ODUPHGLDOWDWHPSHUDWXUDರ
/DWHPSHUDWXUDDOO LQWHUQR
GHOO DSSDUHFFKLDWXUDªWURSಣ
SRDOWD
)DUHULIHULPHQWRDOODVH]LRQH
ಯ$OODUPHSRUWDDSHUWDರRಯ$Oಣ
ODUPHGLDOWDWHPSHUDWXUDರ
/DSRUWDªVWDWDODVFLDWD
DSHUWD
&KLXGHUHODSRUWD
,OFRPSUHVVRUHIXQ]LRQDLQ
PRGRFRQWLQXR
/DWHPSHUDWXUDQRQªLPSRಣ
VWDWDFRUUHWWDPHQWH
)DUHULIHULPHQWRDOFDSLWROR
ಯ3DQQHOORGLFRQWUROORರ
6RQRVWDWLLQWURGRWWLPROWLDOLಣ
PHQWLFRQWHPSRUDQHDPHQWH
$WWHQGHUHDOFXQHRUHHULಣ
FRQWUROODUHODWHPSHUDWXUD
/DWHPSHUDWXUDDPELHQWHª
WURSSRDOWD
)DUHULIHULPHQWRDOFDSLWROR
ಯ,QVWDOOD]LRQHರ
*OLDOLPHQWLLQWURGRWWLQHOO DSಣ
SDUHFFKLDWXUDHUDQRWURSSR
FDOGL
3ULPDGLLQWURGXUUHJOLDOLಣ
PHQWLODVFLDUOLUDIIUHGGDUHD
WHPSHUDWXUDDPELHQWH
/DSRUWDQRQªFKLXVDFRUಣ
UHWWDPHQWH
)DUHULIHULPHQWRDOODVH]LRQH
ಯ&KLXVXUDGHOODSRUWDರ
/DIXQ]LRQH)DVW)UHH]Hª
DWWLYD
9HGHUHODVH]LRQH)XQ]LRಣ
QH)DVW)UHH]H
,OFRPSUHVVRUHQRQVLDYYLD
LPPHGLDWDPHQWHGRSRDYHUH
SUHPXWRLOWDVWR)DVW)UHHಣ
]HRSSXUHGRSRDYHUHPRಣ
GLILFDWRODWHPSHUDWXUD
,OFRPSUHVVRUHVLDYYLDGRSR
XQFHUWRSHULRGRGLWHPSR
QRUPDOHQRQVLWUDWWDGL
XQಬDQRPDOLDGLIXQ]LRQDಣ
PHQWR
/DSRUWDQRQªDOOLQHDWDRLQಣ
WHUIHULVFHFRQODJULJOLDGL
YHQWLOD]LRQH
/ಬDSSDUHFFKLDWXUDQRQª
SHUIHWWDPHQWHLQSLDQR
)DUHULIHULPHQWRDOOHLVWUX]LRಣ
QLGLLQVWDOOD]LRQH
38
3UREOHPD
&DXVDSRVVLELOH
6ROX]LRQH
/DSRUWDQRQVLDSUHIDFLOಣ
PHQWH
6LªFHUFDWRGLULDSULUHOD
SRUWDVXELWRGRSRDYHUOD
FKLXVD
$WWHQGHUHDOFXQLVHFRQGLIUD
ODFKLXVXUDGHOODSRUWDHOD
VXDULDSHUWXUD
/DODPSDGLQDQRQIXQ]LRQD
/DODPSDGLQDªLQPRGDOLW¢
VWDQGE\
&KLXGHUHHDSULUHODSRUWD
/DODPSDGLQDªGLIHWWRVD
&RQWDWWDUHLO&HQWURGL$VVLಣ
VWHQ]D$XWRUL]]DWRSL»YLFLಣ
QR
&ಬªXQDTXDQWLW¢HFFHVVLYD
GLEULQDHJKLDFFLR
/DSRUWDQRQªFKLXVDFRUಣ
UHWWDPHQWH
)DUHULIHULPHQWRDOODVH]LRQH
ಯ&KLXVXUDGHOODSRUWDರ
/DJXDUQL]LRQHªGHIRUPDWD
RVSRUFD
)DUHULIHULPHQWRDOODVH]LRQH
ಯ&KLXVXUDGHOODSRUWDರ
*OLDOLPHQWLQRQVRQRVWDWL
DYYROWLLQPDQLHUDLGRQHD
$YYROJHUHPHJOLRJOLDOLPHQಣ
WL
/DWHPSHUDWXUDQRQªLPSRಣ
VWDWDFRUUHWWDPHQWH
)DUHULIHULPHQWRDOFDSLWROR
ಯ3DQQHOORGLFRQWUROORರ
/ DSSDUHFFKLDWXUDªFRPSOHಣ
WDPHQWHFDULFDHGªLPSRಣ
VWDWDVXOODWHPSHUDWXUDSL»
EDVVD
,PSRVWDUHXQDWHPSHUDWXUD
VXSHULRUH)DUHULIHULPHQWR
DOFDSLWRORಯ3DQQHOORGLFRQಣ
WUROORರ
/DWHPSHUDWXUDLPSRVWDWD
QHOO DSSDUHFFKLDWXUDªWURSಣ
SREDVVDHODWHPSHUDWXUD
DPELHQWHªWURSSRDOWD
,PSRVWDUHXQDWHPSHUDWXUD
VXSHULRUH)DUHULIHULPHQWR
DOFDSLWRORಯ3DQQHOORGLFRQಣ
WUROORರ
6XOODSLDVWUDSRVWHULRUHGHO
IULJRULIHURVFRUUHOಬDFTXD
'XUDQWHORVEULQDPHQWRDXಣ
WRPDWLFRODEULQDVLVFLRJOLH
VXOSDQQHOORSRVWHULRUH
&L´ªFRUUHWWR
6LªFRQGHQVDWDWURSSDDFಣ
TXDVXOODSDUHWHSRVWHULRUH
GHOIULJRULIHUR
/DSRUWDªVWDWDDSHUWDFRQ
HFFHVVLYDIUHTXHQ]D
$SULUHODSRUWDVRORVHQHಣ
FHVVDULR
/DSRUWDQRQªVWDWDFKLXVD
FRPSOHWDPHQWH
&RQWUROODUHFKHODSRUWDVLD
FKLXVDFRPSOHWDPHQWH
,OFLERFRQVHUYDWRQRQªVWDಣ
WRDYYROWRQHOO DSSRVLWRPDಣ
WHULDOH
$YYROJHUHJOLDOLPHQWLLQXQ
LPEDOODJJLRDGHJXDWRSULPD
GLULSRUOLDOOಬLQWHUQRGHOOಬDSSDಣ
UHFFKLDWXUD
/ಬDFTXDVFRUUHDOOಬLQWHUQRGHO
IULJRULIHUR
*OLDOLPHQWLLPSHGLVFRQRDOಣ
OಬDFTXDGLVFRUUHUHQHOOಬDSಣ
SRVLWRFROOHWWRUH
$VVLFXUDUVLFKHJOLDOLPHQWL
QRQWRFFKLQRLOSDQQHOORSRಣ
VWHULRUH
39
3UREOHPD
&DXVDSRVVLELOH
6ROX]LRQH
/RVFDULFRGHOO DFTXDª
RVWUXLWR
3XOLUHORVFDULFRGHOOಬDFTXD
/ಬDFTXDVFRUUHVXOSDYLPHQಣ
WR
/RVFDULFRGHOOಬDFTXDGLVEULಣ
QDPHQWRQRQªFROOHJDWRDOಣ
ODYDVFKHWWDGLHYDSRUD]LRQH
SRVWDDOGLVRSUDGHOFRPಣ
SUHVVRUH
&ROOHJDUHORVFDULFRGHOOಬDFಣ
TXDGLVEULQDPHQWRDOODYDಣ
VFKHWWDGLHYDSRUD]LRQH
1RQªSRVVLELOHLPSRVWDUHOD
WHPSHUDWXUD
/DIXQ]LRQH)DVW)UHH]Hª
DWWLYD
'LVDWWLYDUHPDQXDOPHQWHOD
IXQ]LRQH)DVW)UHH]HRSSXಣ
UHDWWHQGHUHILQFK«ODIXQ]LRಣ
QHVLGLVDWWLYDDXWRPDWLFDಣ
PHQWHSHULPSRVWDUHODWHPಣ
SHUDWXUD9HGHUHODVH]LRQH
IXQ]LRQH)DVW)UHH]H
/DWHPSHUDWXUDDOOಬLQWHUQR
GHOOಬDSSDUHFFKLDWXUDªWURSಣ
SREDVVDWURSSRDOWD
/DWHPSHUDWXUDQRQªLPSRಣ
VWDWDFRUUHWWDPHQWH
,PSRVWDUHXQDWHPSHUDWXUD
VXSHULRUHLQIHULRUH
/DSRUWDQRQªFKLXVDFRUಣ
UHWWDPHQWH
)DUHULIHULPHQWRDOODVH]LRQH
ಯ&KLXVXUDGHOODSRUWDರ
/DWHPSHUDWXUDGHJOLDOLPHQಣ
WLªWURSSRDOWD
3ULPDGLLQWURGXUUHJOLDOLಣ
PHQWLODVFLDUOLUDIIUHGGDUHD
WHPSHUDWXUDDPELHQWH
6RQRVWDWLLQWURGRWWLPROWLDOLಣ
PHQWLFRQWHPSRUDQHDPHQWH
,QWURGXUUHPHQRDOLPHQWLSRಣ
FRDOODYROWDDOORVWHVVRWHPಣ
SR
/RVSHVVRUHGHOODEULQDª
PDJJLRUHGLPP
6EULQDUHO DSSDUHFFKLDWXUD
/DSRUWDYLHQHDSHUWDIUHಣ
TXHQWHPHQWH
$SULUHODSRUWDVRORVHQHಣ
FHVVDULR
/DIXQ]LRQH)DVW)UHH]Hª
DWWLYD
9HGHUHODVH]LRQH)XQ]LRಣ
QH)DVW)UHH]H
1HOOಬDSSDUHFFKLDWXUDQRQFLUಣ
FRODOಬDULDIUHGGD
9HULILFDUHFKHOಬDULDIUHGGD
FLUFROLQHOOಬDSSDUHFFKLDWXUD
)DUHULIHULPHQWRDOFDSLWROR
ಯ&RQVLJOLHVXJJHULPHQWLXWLಣ
OLರ
6LWUDWWDGLXQRVWDWRQRUPDಣ
OH
,QDOFXQLPRPHQWLDOFXQHVXಣ
SHUILFLVSHFLILFKHDOOಬLQWHUQR
GHOYDQRIULJRULIHURVRQRSL»
FDOGH
40
3UREOHPD
&DXVDSRVVLELOH
6ROX]LRQH
,/('UHODWLYLDOOHLPSRVWDಣ
]LRQLGHOODWHPSHUDWXUDODPಣ
SHJJLDQRFRQWHPSRUDQHDಣ
PHQWH
6LªYHULILFDWRXQHUURUHGXಣ
UDQWHODPLVXUD]LRQHGHOOD
WHPSHUDWXUD
&RQWDWWDUHLO&HQWURGL$VVLಣ
VWHQ]D$XWRUL]]DWRSL»YLFLಣ
QR,OVLVWHPDGLUDIIUHGGDಣ
PHQWRFRQWLQXHU¢DPDQWHಣ
QHUHJOLDOLPHQWLIUHGGLPD
QRQVDU¢SRVVLELOHUHJRODUH
ODWHPSHUDWXUD
6HLOVXJJHULPHQWRQRQGDL
ULVXOWDWLDXVSLFDWLFRQWDWWDUHLO
&HQWURGL$VVLVWHQ]D
$XWRUL]]DWRSL»YLFLQR
6RVWLWX]LRQHGHOODODPSDGLQD
/ DSSDUHFFKLDWXUDªGRWDWDGLXQD
ODPSDGLQDLQWHUQDD/('DOXQJDGXUDWD
6RORDO&HQWURGL$VVLVWHQ]DªSHUPHVVR
VRVWLWXLUHO LPSLDQWRG LOOXPLQD]LRQH
&RQWDWWDUHXQ&HQWUR$VVLVWHQ]D
DXWRUL]]DWR
&KLXVXUDGHOODSRUWD
3XOLUHOHJXDUQL]LRQLGHOODSRUWD
6HQHFHVVDULRUHJRODUHODSRUWD)DUH
ULIHULPHQWRDOOHLVWUX]LRQLGL
LQVWDOOD]LRQH
6HQHFHVVDULRVRVWLWXLUHOHJXDUQL]LRQL
GLIHWWRVH&RQWDWWDUHLO&HQWUR
$VVLVWHQ]D$XWRUL]]DWR
58025,
SSSRRR!
BRRR!
CLICK!
HISSS!
BLUBB!
41
'$7,7(&1,&,
,GDWLWHFQLFLVRQRULSRUWDWLVXOODWDUJKHWWD
GHLGDWLDSSOLFDWDVXOODWRHVWHUQR
GHOOಬDSSDUHFFKLDWXUDHVXOOಬHWLFKHWWDGHL
YDORULHQHUJHWLFL
7HQVLRQH
)UHTXHQ]D
9
+]
,1)250$=,21,3(5*/,,67,787,',3529$
/ LQVWDOOD]LRQHHODSUHSDUD]LRQH
GHOO DSSDUHFFKLDWXUDSHUTXDOVLDVLYHULILFD
GL(FR'HVLJQGHYRQRHVVHUHFRQIRUPLD
(1,UHTXLVLWLGLYHQWLOD]LRQHOH
GLPHQVLRQLGHOO LQFDYRHOHGLVWDQ]H
PLQLPHGDOODSDUWHSRVWHULRUHGHYRQR
HVVHUHFRQIRUPLDTXDQWRLQGLFDWRQHO
SUHVHQWHPDQXDOHG XVRDOFDSLWROR6L
SUHJDGLFRQWDWWDUHLOSURGXWWRUHSHU
TXDOVLDVLDOWUDLQIRUPD]LRQHFRPSUHVLL
SLDQLGLFDULFR
:$55$17<&86720(56(59,&(
)RUHDFKSURGXFWZHSURYLGHDWZR\HDU
JXDUDQWHHIURPWKHGDWHRISXUFKDVHRU
GHOLYHU\WRWKHFRQVXPHU ZLWKD
JXDUDQWHHFHUWLILFDWHLQYRLFHRUVDOHV
UHFHLSWVHUYLQJDVSURRI 7KHJXDUDQWHHFRYHUVWKHFRVWVRI
PDWHULDOVODERXUDQGWUDYHO7KH
JXDUDQWHHZLOOODSVHLIWKHRSHUDWLQJ
LQVWUXFWLRQVDQGFRQGLWLRQVRIXVHDUHQRW
DGKHUHGWRLIWKHSURGXFWLVLQFRUUHFWO\
LQVWDOOHGRULQWKHHYHQWRIGDPDJH
FDXVHGE\H[WHUQDOLQIOXHQFHVIRUFH
PDMHXUHLQWHUYHQWLRQE\WKLUGSDUWLHVRU
WKHXVHRIQRQJHQXLQHFRPSRQHQWV
&21',7,216'(*$5$17,(6(59,&(
1RXVRFWUR\RQVVXUFKDTXHSURGXLWDQV
GHJDUDQWLH¢SDUWLUGHODGDWHGHOLYUDLVRQ
RXGHODPLVHHQVHUYLFHDX
FRQVRPPDWHXU GRFXPHQW«DXPR\HQ
GಬXQHIDFWXUHGಬXQERQGHJDUDQWLHRX
GಬXQMXVWLILFDWLIGಬDFKDW 1RWUHJDUDQWLH
FRXYUHOHVIUDLVGHPDLQVGಬRHXYUHVHWGH
G«SODFHPHQWDLQVLTXHOHVSLªFHVGH
UHFKDQJH
/HVFRQGLWLRQVGHJDUDQWLHQHVRQWSDV
YDODEOHVHQFDVGಬLQWHUYHQWLRQGಬXQWLHUV
QRQDXWRULV«GHOಬHPSORLGHSLªFHVGH
UHFKDQJHQRQRULJLQDOHVGಬHUUHXUVGH
PDQLHPHQWRXGಬLQVWDOODWLRQGXHV¢
OಬLQREVHUYDWLRQGXPRGHGಬHPSORLHWSRXU
GHVGRPPDJHVFDXV«VSDUGHVLQIOXHQFHV
H[W«ULHXUHVRXGHIRUFHPDMHXUH
*$5$17,(%(',1*81*(1.81'(1',(167
)¾UMHGHV3URGXNWJHZ¦KUHQ:LUDE
9HUNDXIE]Z/LHIHUGDWXPDQGHQ
(QGYHUEUDXFKHUHLQH*DUDQWLHYRQ
-DKUHQ $XVZHLVGXUFK*DUDQWLHVFKHLQ
)DNWXUDRGHU9HUNDXIVEHOHJ 'LH*DUDQWLHOHLVWXQJXPIDVVWGLH.RVWHQ
I¾U0DWHULDO$UEHLWVXQG5HLVH]HLW
'LH*DUDQWLHOHLVWXQJHQWI¦OOWEHL
1LFKWEHDFKWXQJGHU*HEUDXFKVDQZHLVXQJ
XQG%HWULHEVYRUVFKULIWHQXQVDFKJHUHFKWHU
,QVWDOODWLRQVRZLHEHL%HVFK¦GLJXQJ
GXUFK¦XVVHUH(LQIO¾VVHK¸KHUH*HZDOW
(LQJULIIH'ULWWHUXQG9HUZHQGXQJYRQ
1LFKW2ULJLQDO7HLOHQ
42
&21',=,21,',*$5$1=,$6(59,=,2&/,(17(/$
3HURJQLSURGRWWRFRQFHGLDPRXQD
JDUDQ]LDGLDQQLDSDUWLUHGDOODGDWDGL
FRQVHJQDRGDOODVXDPHVVDLQIXQ]LRQH
)DVWDWRODGDWDGHOODIDWWXUDGHO
FHUWLILFDWRGLJDUDQ]LDRGHOORVFRQWULQR
GಬDFTXLVWR 1HOODJDUDQ]LDVRQRFRPSUHVH
OHVSHVHGLPDQRGRSHUDGLYLDJJLRHGHO
PDWHULDOH
'DOODFRSHUWXUDVRQRHVFOXVLLO
ORJRUDPHQWRHGLGDQQLFDXVDWLGDDJHQWL
HVWHUQLLQWHUYHQWRGLWHU]LXWLOL]]RGL
ULFDPELQRQRULJLQDOLRGDOODLQRVVHUYDQ]D
GHOOHSUHVFUL]LRQLGಬLVWDOOD]LRQHHG
LVWUX]LRQLSHUOಬXVR
&216,'(5$=,21,68// $0%,(17(
5LFLFODUHLPDWHULDOLFRQLOVLPEROR %XWWDUHO LPEDOODJJLRQHJOLDSSRVLWL
FRQWHQLWRULSHULOULFLFODJJLR$LXWDUHD
SURWHJJHUHOಬDPELHQWHHODVDOXWHXPDQDH
DULFLFODUHULILXWLGHULYDQWLGD
DSSDUHFFKLDWXUHHOHWWULFKHHGHOHWWURQLFKH
1RQVPDOWLUHOHDSSDUHFFKLDWXUHFKH
ULSRUWDQRLOVLPEROR LQVLHPHDLQRUPDOL
ULILXWLGRPHVWLFL3RUWDUHLOSURGRWWRDO
SXQWRGLULFLFODJJLRSL»YLFLQRRFRQWDWWDUH
LOFRPXQHGLUHVLGHQ]D
3HUOD6YL]]HUD
'RYHSRUWDUHJOLDSSDUHFFKL
IXRULXVR"
,QTXDOVLDVLQHJR]LRFKHYHQGH
DSSDUHFFKLQXRYLRSSXUHVL
UHVWLWXLVFRQRDLFHQWULGL
UDFFROWDXIILFLDOLGHOOD6(16
RSSXUHDLULFLFODWRULXIILFLDOL
GHOOD6(16
/DOLVWDGHLFHQWULGLUDFFROWD
XIILFLDOLGHOOD6(16ªYLVLELOH
QHOVLWRZZZHUHF\FOLQJFK
43
Unsere Kundendienst-Telefonnummer:
Le numéro de téléphone de notre service après-vente:
Il nostro numero di telefono del servizio clientela:
Our customer service telephone number:
0848 559 111
oder unter
ou sur Internet
oppure su Internet
or in the internet
www.fust.ch
$
">
Lien public mis à jour
Le lien public vers votre chat a été mis à jour.
Caractéristiques clés
- Compartiments de porte modulables pour faciliter le rangement.
- Fonction FastFreeze pour une congélation rapide des aliments frais.
- Alarme de porte ouverte pour éviter le gaspillage d'énergie.
- Dégivrage automatique du réfrigérateur pour un entretien facile.
- Éclairage intérieur LED pour une visibilité optimale.
- Thermostat réglable pour contrôler la température.
Questions fréquemment posées
Appuyez sur la touche du thermostat jusqu'à ce que le voyant LED correspondant à la température souhaitée s'affiche. Le réglage recommandé est de 4°C.
Appuyez sur le bouton FastFreeze. Le voyant FastFreeze s'allume. Cette fonction s'arrête automatiquement au bout de 52 heures.
Fermez la porte. Si l'alarme continue de sonner, appuyez sur n'importe quelle touche pour la désactiver temporairement.
Éteignez l'appareil et débranchez-le. Nettoyez l'intérieur et les accessoires avec de l'eau tiède et du savon neutre. Rincez et séchez soigneusement.