5$33257 $118 - Musée d`art de Joliette

Transcription

5$33257$118(/
6200$,5(
0HPEUHVGXFRQVHLOGªDGPLQLVWUDWLRQ
0RWGXSUpVLGHQWGXFRQVHLOGªDGPLQLVWUDWLRQ
5DSSRUWGHODGLUHFWULFHJpQpUDOH
+LVWRULTXH
0LVVLRQHWPDQGDW
)UpTXHQWDWLRQ
6RPPDLUHGHVUHYHQXV
3UL[HWGLVWLQFWLRQV
&ROOHFWLRQ
([SRVLWLRQV
3XEOLFDWLRQV
$FWLYLWpVpGXFDWLYHVHWFXOWXUHOOHV
&RPPXQLFDWLRQ
'pYHORSSHPHQWHWILQDQFHPHQW
+RPPDJHDX[ELHQIDLWHXUV
/HSHUVRQQHOGX0XVpH
5DSSRUWILQDQFLHU
0(0%5(6'8&216(,/
'
$'0,1,675$7,21
35e6,'(17
<YDQ*XLEDXOW
*HVWLRQQDLUHLPPRELOLHU¥
*HVWLRQ'**XLEDXOW/WpH
027'835e6,'(17'8
&216(,/'
$'0,1,675$7,21
'DQLHOOH'DXSKLQ
'LUHFWULFHVRXWLHQjODJHVWLRQ¥
&DLVVH'HVMDUGLQVGH-ROLHWWH
$ULDQH'H%ORLV
'RFWRUDQWHHQKLVWRLUHGHOªDUW
8QLYHUVLWp0F*LOO
HU
9,&(35e6,'(17
&KULVWLDQH%UD]HDX
5HWUDLWpH¥
$GMRLQWHDXGLUHFWHXUGHVDQWpSXEOLTXHHW
G
pYDOXDWLRQjOª$JHQFHGHODVDQWpHWGHV
VHUYLFHVVRFLDX[GH/DQDXGLqUH
-DFTXHV+RXOHFVY
0HPEUHGpVLJQpGHV&OHUFVGH6DLQW9LDWHXU
'HQLV/RQJFKDPSV3K'
+LVWRULHQGHOªDUW¥
$GPLQLVWUDWHXUjOª,QVWLWXWGHUHFKHUFKHHQ
DUWFDQDGLHQ*DLOHW6WHSKHQ$
-DULVORZVN\8QLYHUVLWp&RQFRUGLD
H9,&(35e6,'(17
-HDQ)UDQoRLV%HUJHURQ
3UpVLGHQWGH125',.HDXLQF
H9,&(35e6,'(17
'DQLHO*UpJRLUH
$YRFDW¥
5RQGHDX&RXWXULHU$YRFDWV 6\OYDLQ3DUp
1RWDLUH¥
&RPPLVVLRQGHOªLPPLJUDWLRQHWGXVWDWXWGX
UpIXJLpHWPHPEUHGHOD&KDPEUHGHV
QRWDLUHVGX4XpEHF 75e625,(5
-DFTXHV+RXGH
$QLPDWHXUUDGLR¥
5DGLR9LOOH0DULH
eGLWK3D\HWWH
5HWUDLWpH¥
(QVHLJQDQWHDX&ROOqJHGH5RVHPRQW
6(&5e7$,5(
-HDQQH%0DWWH
5HWUDLWpH¥
3URWRQRWDLUH
6RODQLH$QQ3LFDUG7XUFRW
$YRFDWH¥
6ROHJLVLQF
0(0%5('e6,*1e(
'(/$05&'(-2/,(77(
&pOLQH*HRIIUR\ 0DLUHVVHGH1RWUH'DPHGH/RXUGHV
$QDQG6ZDPLQDGKDQ
,QJpQLHXUFRQVHLO¥
/HVFRQVXOWDQWV$QDQG6ZDPLQDGKDQHQU
3LHUUH9LQFHQW
5HWUDLWp¥
(QVHLJQDQWGHVDUWVSODVWLTXHVjOªpFROH
VHFRQGDLUH(VSDFH-HXQHVVH
0(0%5('e6,*1e
'(6&/(5&6'(6$,179,$7(85
-DFTXHV+RXOHFVY
0(0%5('e6,*1e(
'(/$9,//('(-2/,(77(
'LDQH1LFROHWWL
&RQVHLOOqUHPXQLFLSDOH9LOOHGH-ROLHWWH
&ªHVW DYHF HQWKRXVLDVPH TXH MªDL
DFFHSWp GH SUpVLGHU SRXU XQH WURL
VLqPH DQQpH FRQVpFXWLYH OH FRQVHLO
G
DGPLQLVWUDWLRQ GX 0XVpH G
DUW GH
-ROLHWWH 0$- j XQH SpULRGH RX GH
QRPEUHX[FKDQJHPHQWVHQWUHSULVGHSXLV
GHX[DQVVHPDWpULDOLVHQWVXUOHSODQ
RUJDQLVDWLRQQHO HW VXU OH SODQ GX
GpYHORSSHPHQW LQVWLWXWLRQQHO R Oj
HQFRUH GªDXWUHV JUDQGV GpILV QRXV
DWWHQGHQW
(Q HIIHW OªDQQpH D pWp SDUWLFXOLqUHPHQW IDVWH WDQW SDU OHV LPSRUWDQWHV
H[SRVLWLRQVRIIHUWHVTXHSDUOHVQRPEUHXVHVDFWLYLWpVRUJDQLVpHV/H0$-DVXXQH
IRLVGHSOXVGpPRQWUHUVDFDSDFLWpGHGRQQHUjYRLUGHV¤XYUHVPDMHXUHVjIDLUHGH
FHWWHLQVWLWXWLRQXQELHQFXOWXUHOFRPPXQXQOLHXGªpFKDQJHVHWGHUHQFRQWUHVYLYDQW
HWRXYHUWjWRXVHWjWLVVHUXQUpVHDXVRFLDOGHSOXVHQSOXVpWHQGXTXLQRXVDLGHj
UpDOLVHUQRWUHPLVVLRQ
/ªDQQpH D pJDOHPHQW pWp WUqV ULFKH HQ UpDOLVDWLRQV HW HQ SURMHWV VH
UDSSRUWDQW j OD JHVWLRQ HW j OªRUJDQLVDWLRQ LQVWLWXWLRQQHOOH 1RXV DYRQV DGRSWp QRWUH
SROLWLTXH GH JRXYHUQDQFH HQWpULQp OH 0DQXHO GH OªHPSOR\p UHYX HW PRGLILp OHV
UqJOHPHQWVJpQpUDX[GHODFRUSRUDWLRQHWHQWDPpXQHUpIOH[LRQVXUXQHSROLWLTXHGH
JHVWLRQ GHV UHVVRXUFHV KXPDLQHV LQWpJUpH GHV RXWLOV TXL SHUPHWWHQW DX &$ HW DX
GLYHUVFRPLWpVGªrWUHSOXVHIILFDFHVHWDX[HPSOR\pVGªrWUHPLHX[HQFDGUpV
/D SURFKDLQH DQQpH VHUD pJDOHPHQW PDUTXpH SDU OD UpDOLVDWLRQ GªXQ SODQ GH
FRPPXQLFDWLRQ HW GªXQ SODQ VWUDWpJLTXH 1RXV VRPPHV DXVVL HQ DWWHQWH PDLV
FRQILDQWVGHSRXYRLUGpPDUUHUOHSURMHWHQOLHQDYHFQRWUHEkWLPHQW3URMHWGHPLVH
DX[ QRUPHV HW GH UpDPpQDJHPHQW TXL QRXV SHUPHWWUD GH PDLQWHQLU QRWUH
DFFUpGLWDWLRQ DXSUqV GH OD &RPPLVVLRQ FDQDGLHQQH G
H[DPHQ GHV H[SRUWDWLRQV GH
ELHQV FXOWXUHOV GªXQH SDUW HW GH UpDOLVHU GªDXWUH SDUW XQ SURMHW GªDJUDQGLVVHPHQW
QRXVGRQQDQWXQHQRXYHOOHYLWULQHjOªHQWUpHGHODYLOOHGH-ROLHWWHTXLFpOpEUHUDVRQ
HDQQLYHUVDLUHDYHFODILQGHQRVWUDYDX[
(QMXLOOHWOH0XVpHGªDUWGH-ROLHWWHDYDLWDPRUFpXQHpWXGHGHSUpIDLVDELOLWpTXL
QRXV DYDLW SHUPLV GH IDLUH XQH DQDO\VH LQLWLDOH GHV EHVRLQV OLpV DX GpYHORSSHPHQW
RUJDQLVDWLRQQHO GH OªLQVWLWXWLRQ 'XUDQW OD GHUQLqUH DQQpH QRXV DYRQV SX JUkFH j
FHWWHpWXGHVHQVLELOLVHUOHVGLYHUVHVLQVWDQFHVORFDOHVUpJLRQDOHVHWQDWLRQDOHVTXDQW
jOªXUJHQFHGHUpQRYHUOHEkWLPHQWTXLSUpVHQWHGHVGpILFLHQFHVLPSRUWDQWHVHQ FH
0(0%5('ª2)),&(
*DsWDQH9HUQD
'LUHFWULFHJpQpUDOHGX0$-
TXLFRQFHUQHOHVV\VWqPHVPpFDQLTXHVHWODWRLWXUH7RXWHVFHVUpSDUDWLRQVGXHVj
OªXVXUHQRUPDOHGXWHPSVFHUWDLQVpTXLSHPHQWVGDWHQWGHHWVLHOOHVQH
VRQWSDVHIIHFWXpHVUDSLGHPHQWPHWWHQWHQSpULOQRWUHFROOHFWLRQHWULVTXHQWGHQRXV
IDLUHSHUGUHODFRWH©ª$ªªDFFRUGpHHQSDUOD&RPPLVVLRQFDQDGLHQQHG
H[DPHQ
GHVH[SRUWDWLRQVGHELHQVFXOWXUHOV&&((%&
5$33257'(/$
',5(&75,&(*e1e5$/(
$XFRXUVGHODSURFKDLQHDQQpHQRXVUHOqYHURQVOHVGpILVUHODWLIVDXSOXVLPSRUWDQW
SURMHWILQDQFLHUjrWUHUpDOLVpSDUOH0XVpHGHSXLVVRQRXYHUWXUHHQ&RPPHFH
JUDQGSURMHWGHPLVHDX[QRUPHVHWGªDJUDQGLVVHPHQWQpFHVVLWHXQEXGJHWGªHQYLURQ
0OH0XVpHGHYUDUpDOLVHUXQHFDPSDJQHGHILQDQFHPHQWPDMHXUHGHOªRUGUHGH
0TXLVHUDPLVHVXUSLHGGqVTXHOªDFFRUGGHSULQFLSHVHUDGRQQpSDUOHPLQLVWqUH
GH OD &XOWXUH GHV &RPPXQLFDWLRQV HW GH OD &RQGLWLRQ IpPLQLQH GX 4XpEHF DILQ GH
UHQFRQWUHU QRWUH TXRWHSDUW GX ILQDQFHPHQW UHTXLV SRXU OD UpDOLVDWLRQ GH FH SURMHW
PRELOLVDWHXUWDQWSRXUOHJUDQG-ROLHWWHTXHSRXUWRXWHODUpJLRQGH/DQDXGLqUH9RLOj
FHUWDLQHPHQWOHSOXVJUDQGGpILTXHOH0XVpHGHYUDUHOHYHUGqVHWSRXUOHTXHO
QRXVFRPSWRQVVXUOªHQVHPEOHGHVFLWR\HQVGHVLQGXVWULHVGHVPXQLFLSDOLWpVHWGHV
PpFqQHVDILQGHQRXVDLGHUjDWWHLQGUHFHWREMHFWLI
-H SURILWH GH FHWWH RFFDVLRQ SRXU VRXOLJQHU HW UHPHUFLHU OªHQVHPEOH GH QRV
SDUWHQDLUHV HW FRPPDQGLWDLUHV 9RWUH SUpVHQFH HW YRWUH VRXWLHQ VRQW HVVHQWLHOV DX
ERQ IRQFWLRQQHPHQW GH OªLQVWLWXWLRQ HW DXURQW SHUPLV GH UpDOLVHU ERQ QRPEUH GH
SURMHWV pGXFDWLIV HW FXOWXUHOV &HV SURMHWV Q
DXUDLHQW SX rWUH UpDOLVpV VDQV XQ DSSXL
VROLGH GH VRQ PLOLHX 6DFKH] TXH JUkFH j YRWUH LPSOLFDWLRQ YRXV FRQWULEXH]
GLUHFWHPHQWDXUD\RQQHPHQWGX0XVpHHWGHQRWUHUpJLRQQRQVHXOHPHQWVXUODVFqQH
SURYLQFLDOHPDLVpJDOHPHQWVXUODVFqQHQDWLRQDOH
0HUFLDX[EpQpYROHVSOXVGªXQHFLQTXDQWDLQHTXLSDUWLFLSHQWUpJXOLqUHPHQWjWRXWHV
QRVDFWLYLWpVHWTXLUHKDXVVHQWVDQVDXFXQGRXWHYRWUHH[SpULHQFHPXVpDOHDX0$-
0HUFLjOD)RQGDWLRQGX0XVpHHWVHVPHPEUHVSRXUOHXUVXSSRUWHWOHXULPSOLFDWLRQ
/HVPpFqQHVVRQWXQHVRXUFHGªLQVSLUDWLRQFRQWLQXHHWHVVHQWLHOOHDXGpYHORSSHPHQW
GH QRWUH LQVWLWXWLRQ -ªDLPHUDLV IpOLFLWHU HW UHPHUFLHU SDUWLFXOLqUHPHQW PDGDPH
*DsWDQH 9HUQD GLUHFWULFH JpQpUDOH GX 0XVpH GªDUW GH -ROLHWWH VRQ pTXLSH GH
SURIHVVLRQQHOOHV DLQVL TXHWRXV OHV HPSOR\pV SRXU OD TXDOLWp GH OHXU WUDYDLO HW OHXU
SDVVLRQ VDQV IDLOOH 0HUFL j PHV FROOqJXHV GX FRQVHLO GªDGPLQLVWUDWLRQ SRXU OHXU
GpYRXHPHQWHWOHXULPSOLFDWLRQDXFRXUVGHODGHUQLqUHDQQpH&RPPHLOVOHVDYHQW
GpMjOHGpILILQDQFLHUPDMHXUDXTXHOOH0XVpHIHUDIDFHHQGHPDQGHUDHQFRUH
SOXV GH WHPSV HW GªLQYHVWLVVHPHQW SHUVRQQHOOH SRXU GH OD OHYpH GH IRQGV 0HUFL j
OªDYDQFHGHYRWUHLPSOLFDWLRQ
<YDQ*XLEDXOW
3UpVLGHQWGXFRQVHLOGªDGPLQLVWUDWLRQ
$X FRXUV GHV GHUQLqUHV DQQpHV OH 0XVpH GªDUW GH -ROLHWWH 0$- D VX VH
GRQQHU XQH LGHQWLWp SURSUH HW GHYHQLU OH SOXV LPSRUWDQW 0XVpH HQ UpJLRQ DX
4XpEHF/DUpSXWDWLRQGX0XVpHHVWVROLGHPHQWpWDEOLHHWVªDSSXLHHQWUHDXWUHV
VXUOHFDUDFWqUHGªH[FHSWLRQGHVDFROOHFWLRQTXLOXLSHUPHWGªRIIULUDXSXEOLFXQ
UHPDUTXDEOHSDQRUDPDGHOªDUWRFFLGHQWDOGHSXLVOH;,9HVLqFOHFHTXLLQFOXWXQ
SUHVWLJLHX[ YROHW GªDUW UHOLJLHX[ DLQVL TXªXQ HQVHPEOH WUqV UHSUpVHQWDWLI HW
ILQHPHQWGpYHORSSpGªDUWTXpEpFRLVHWFDQDGLHQGHV;,;HHW;;HVLqFOHVHWGªDUW
FRQWHPSRUDLQ LQWHUQDWLRQDO /H 0XVpH VH GLVWLQJXH pJDOHPHQW SDU VRQ
UD\RQQHPHQWjODIRLVORFDOUpJLRQDOQDWLRQDOHWLQWHUQDWLRQDOUHIOpWpDXWDQWGDQV
OHVWRXUQpHVTXªHIIHFWXHQWVHVH[SRVLWLRQVOHVWKpPDWLTXHVTXL\VRQWDERUGpHV
OD SURYHQDQFH GH VHV DFTXLVLWLRQV TXH OD QDWXUH GHV SDUWHQDULDWV GpYHORSSpV
DYHF OHV PLOLHX[ FXOWXUHOV HW OHV PLOLHX[ GªDIIDLUHV DX FRXUV GHV GHUQLqUHV
DQQpHV
/H0$-HVWYLVLWpSDUYLVLWHXUVHQ'XUDQWODSpULRGHHVWLYDOH
GH OH 0XVpH D UHoX SOXV GH GX QRPEUH GHWRXULVWHV UHFHQVpV SDU
O
2IILFHGX7RXULVPHHWGHV&RQJUqVGH-ROLHWWHVRLWSOXVGHYLVLWHXUV6D
PLVVLRQpGXFDWLYHFXOWXUHOOHHWFRPPXQDXWDLUHDLQVLTXHOHVSUL[TXªLOUHPSRUWH
FRPPH FHOXL GX *UDQGV 3UL[ GX WRXULVPH 'HVMDUGLQV GH /DQDXGLqUH ¥
$WWUDFWLRQVWRXULVWLTXHV¥PRLQVGHYLVLWHXUV¥TXªLOUHPSRUWHSRXUXQH
GHX[LqPH DQQpH FRQVpFXWLYH WpPRLJQHQW GH VRQ HQJDJHPHQW HQYHUV OD
FRPPXQDXWpODQDXGRLVH&HWDQFUDJHVªDFFRPSDJQHGªXQUD\RQQHPHQWGHSOXV
HQSOXVSURQRQFpVXUODVFqQHPRQWUpDODLVHTXpEpFRLVHHWFDQDGLHQQH
/$)5e48(17$7,21
/HUD\RQQHPHQWGªXQPXVpHWHOTXHOHQ{WUHGRLWVªDFFRPSDJQHUGªXQDQFUDJH
HQFRUHSOXVJUDQGGDQVVDFRPPXQDXWpLPPpGLDWHTXLUHSUpVHQWHGHQRV
YLVLWHXUV /H 0$- VªHVW VLQJXOLqUHPHQW PRELOLVp FHV GHUQLqUHV DQQpHV DILQ GH
FRQVROLGHUOHVOLHQVDYHFVRQPLOLHXSURFKH8QGHFHVOLHQVHVWPDLQWHQXJUkFH
j QRWUH VHUYLFH GH JXLGHVEpQpYROHV GRQW OD PLVVLRQ SUHPLqUH HVW GH IDLUH
GpFRXYULU DXWUHPHQW OHV FROOHFWLRQV HW GH IDFLOLWHU OHV UDSSRUWV GX SXEOLF DYHF
OªDUW SUpVHQWp DX 0$- 1RXV RIIURQV DXVVL DX SXEOLF XQH SURJUDPPDWLRQ
FXOWXUHOOH FRPSOpPHQWDLUH TXL VªDGUHVVH j XQHYDULpWp GH FOLHQWqOHV TXLYD GHV
SOXVVSpFLDOLVpHVDX[SOXVJpQpUDOLVWHVHQSDVVDQWSDUODFOLHQWqOHVFRODLUH
OªRFFDVLRQGHVHVWURLVJUDQGVYHUQLVVDJHVDQQXHOVOH0$-SURSRVHXQHYLVLWH
JUDWXLWHHQFRPSDJQLHGHVDUWLVWHVHWGHVFRPPLVVDLUHVHWFHWWHDFWLYLWpVXVFLWH
XQLQWpUrWGHSOXVHQSOXVPDUTXpFKH]OHVYLVLWHXUV6RXKDLWDQWIDFLOLWHUOªDFFqV
jFHWpYpQHPHQWOªLQVWLWXWLRQSURSRVHXQHQDYHWWHTXLIDLWO
DOOHUUHWRXU0RQWUpDO
-ROLHWWH 2IIHUWH JUDWXLWHPHQW JUkFH DX VRXWLHQ ILQDQFLHU GH VHV SDUWHQDLUHV
FHWWH QDYHWWH FRQQDvW XQ YLI VXFFqV &HWWH GHUQLqUH OXL SHUPHW QRQ VHXOHPHQW
GªDXJPHQWHU HW GH GLYHUVLILHU VD FOLHQWqOH PDLV pJDOHPHQW GH FRQVROLGHU OD
IUpTXHQWDWLRQ GX SXEOLF DFWXHO WRXW HQ IDYRULVDQW OªpPHUJHQFH GªXQ WRXULVPH
FXOWXUHOGDQVODUpJLRQGH/DQDXGLqUH/DSRSXODULWpGHFHWWHQDYHWWHDHXSRXU
HIIHWGHFUpHUXQQRXYHOHQJRXHPHQWDXWRXUGHVYHUQLVVDJHVHWFHWDQWDXSUqV
GHV YLVLWHXUV TXH GHV PpGLDV &RPSDUDWLYHPHQW j OªDQQpH OH WDX[
GH SDUWLFLSDWLRQ DX[ YHUQLVVDJHV DIILFKH FHWWH DQQpH XQH KDXVVH GH SUqV GH
1RXVVXLYRQVGHSUqVOªpYROXWLRQGHFHVSXEOLFVHWFHPDQGDWUHVWHFDSLWDOSRXU
QRXV $X GHOj GHV FRQQDLVVDQFHV WUDQVPLVHV j SURSRV GHV ¤XYUHV RX GHV
H[SpULHQFHVYpFXHVjOHXUFRQWDFWWRXWHVOHVLQWHUYHQWLRQVGX6HUYLFHpGXFDWLI
YLVHQW j GpYHORSSHU GHV FRPSpWHQFHV FKH] OH YLVLWHXU j OXL GRQQHU GHV RXWLOV
SRXU TXªLO HQWUH HQ FRQWDFW DYHF OD ULFKHVVH FXOWXUHOOH TXH UHSUpVHQWH OHV DUWV
YLVXHOVFRQWHPSRUDLQV/H0$-HVWDYDQWWRXWXQPXVpHGHSUR[LPLWpMRXDQWXQ
U{OHFUXFLDOGDQVQRWUHUpJLRQ1RWUHWDLOOHIDYRULVHGHVUDSSRUWVLQWLPHVDXWDQW
HQWUH OH VSHFWDWHXU HW OHV ¤XYUHV TXL \ VRQW SUpVHQWpHV TXªHQWUH FH PrPH
VSHFWDWHXUHWOªpTXLSHGX0XVpH
/(6(;326,7,216
(QSOXVGHGpYHORSSHUGHVSURMHWVKRUVOHVPXUVVRXWHQXVSDUGHVSDUWHQDULDWV
HIILFDFHV OH 0$- SURSRVH GHV H[SRVLWLRQV WHPSRUDLUHV DQQXHOOHPHQW UpSDUWLHV
VXUWURLVSURJUDPPDWLRQV
(Q JUkFH j QRV GRX]H H[SRVLWLRQV WHPSRUDLUHV QRWUH H[SRVLWLRQ
SHUPDQHQWH DLQVL TXH QRV SXEOLFDWLRQV QRXV DYRQV SRXUVXLYL QRWUH WUDYDLO HQ
IDYRULVDQWWRXMRXUVODUHFKHUFKHOªpWXGHHWOªDYDQFHPHQWGHOªKLVWRLUHGHOªDUWHQ
SOXVGHVDGLIIXVLRQORFDOHUpJLRQDOHHWLQWHUQDWLRQDOH
/D SURJUDPPDWLRQ GHV H[SRVLWLRQV DX 0$- HVW DUWLFXOpH DXWRXU GH WURLV D[HV
SUpFLV OD SUpVHQWDWLRQ GªH[SRVLWLRQV ELODQV SRXU GHV DUWLVWHV HQ PLFDUULqUH
)UDQoRLV /DFDVVH &ODXGLH *DJQRQ *LVHOH $PDQWHD RX GHV DUWLVWHV VHQLRUV
*DERU 6]LODVL OD PLVH HQ YDOHXU GH OD FROOHFWLRQ GX 0$- j WUDYHUV GHV
H[SRVLWLRQV WKpPDWLTXHV HW HQILQ OªLQYLWDWLRQ GªDUWLVWHV HW GH FRPPLVVDLUHV j
FUpHU GHV SURMHWV OHXU GRQQDQW OHV PR\HQV GH UpDOLVHU GH QRXYHOOHV ¤XYUHV
0DXGH/pRQDUG&RQWDQWSHUPHWWDQWDLQVLDX0$-GHSDUWLFLSHUjOªHVVRUHWDX
GpYHORSSHPHQWGHOªDUWFRQWHPSRUDLQ
$XPR\HQGHFHVWURLVD[HVOH0$-VªDVVXUHGHUHVWHUXQYpULWDEOHLQVWUXPHQW
FULWLTXH GRWp GH VHQV HW HQJDJp DXWDQW GDQV OD SUpVHUYDWLRQ GX SDWULPRLQH
DQFLHQTXHGDQVODUHFKHUFKHGHOªLQQRYDWLRQLVVXHGHVSUDWLTXHVHQDUWDFWXHO
OªLQWpULHXU GH FHV EDOLVHV QRXV SULYLOpJLRQV OHV SURGXFWLRQV DUWLVWLTXHV TXL
QRXV DSSDUDLVVHQW OHV SOXV QRYDWULFHV HW TXL UHQRXYHOOHQW OH ODQJDJH YLVXHO GH
OªDUW1RXVQHWUDLWRQVSDVGLIIpUHPPHQWOªDUWKLVWRULTXHHWOªDUWFRQWHPSRUDLQ/D
PpWKRGRORJLH GHPHXUH OD PrPH j SDUWLU GªXQH SURGXFWLRQ FKRLVLH SRXU VD
SHUWLQHQFH QRXV HIIHFWXRQV XQH UHFKHUFKH DSSURIRQGLH GH OD SURSRVLWLRQ GH
OªDUWLVWHDILQGHIDLUHUHVVRUWLUOHVYDOHXUVTXLDQLPHQWFHOOHFL
&RQIURQWHUOHWUDYDLOGHVDUWLVWHVTXpEpFRLVDYHFFHOXLGHVDUWLVWHVGHODVFqQH
LQWHUQDWLRQDOH HVW pJDOHPHQW XQH GH QRV SUpRFFXSDWLRQV <LQND 6KRQLEDUH
<RVKLKLUR6XGD<DP /DX3DXOGH*X]PDQ&HWWHGpPDUFKHQRXVSHUPHWGH
PHWWUH HQ YDOHXU OH ODQJDJH XQLYHUVHO TXªHVW OªDUW FRQWHPSRUDLQ HW DXTXHO
SDUWLFLSHQWSOHLQHPHQWOHVDUWLVWHVFDQDGLHQVHWTXpEpFRLV&HWWHPLVHHQYDOHXU
VHFRQFUpWLVHSDUGHVHPSUXQWVTXHQRXVIDLVRQVDXSUqVGªDUWLVWHVGHPXVpHV
FDQDGLHQV HW pWUDQJHUV DILQ GH GRQQHU j YRLU j QRWUH SXEOLF GHV ¤XYUHV
PDMHXUHV GH OD VFqQH QDWLRQDOH HW LQWHUQDWLRQDOH -DYLHU 7pOOH] )LRQD %DQQHU
3HQHORSH 6WHZDUW HW SDU OHV H[SRVLWLRQV SURGXLWHV SDU OH 0XVpH HW PLVHV HQ
FLUFXODWLRQ DQQXHOOHPHQW 0DOJUp QRV PR\HQV QRXV QRXV VRPPHV GRQQpV
FRPPH PDQGDW GH UHSpUHU OªLQQRYDWLRQ HW GªHQ IDLUH OD UHFKHUFKH HW OD
SURPRWLRQWDQWj-ROLHWWHTXªjWUDYHUVOH&DQDGD
(Q QRXV DYRQV IDLW FLUFXOHU j WUDYHUV OH &DQDGD WURLV GH QRV
H[SRVLWLRQV RULJLQDOHV 'LDQH /DQGU\ /HV GpILEULOODWHXUV 0RXQW 6DLQW 9LQFHQW
8QLYHUVLW\$UW*DOOHU\+DOLID[ (G3LHQ/
DQWUHGHVGpOLFHV0HQGHODUW*DOOHU\
6DVNDWRRQ HW JUkFH j OªDSSXL GX 0XVpH GHV EHDX[DUWV GX &DQDGD *DERU
6]LODVL /ªpORTXHQFH GX TXRWLGLHQ 0XVpH GHV EHDX[DUWV GX &DQDGD 2WWDZD
&HV H[SRVLWLRQV RQW SHUPLV j YLVLWHXUV KRUV 4XpEHF GHYRLU OH IUXLW GH
QRWUHWUDYDLOGDQVGHVFRPPXQDXWpVHWGHVUpJLRQVGLYHUVHV • (G3LHQ/ªDQWUHGHVGpOLFHV+DYHQRI'HOLJKWSURGXLWHHQSDUOH%HOOHYXH
$UWV0XVHXPHWOH0XVpHGªDUWGH-ROLHWWH
352*5$00(6e'8&$7,)6(7'ª$&7,21&8/785(//(
/HV DFWLYLWpV GpYHORSSpHV SDU OH 0$- RQW XQH GRXEOH GLPHQVLRQ j OD IRLV
DUWLVWLTXH HW SpGDJRJLTXH IDYRULVDQW OªDSSUHQWLVVDJH j ORQJ WHUPH HQ PDWLqUH
GªDUWVYLVXHOVHWUpSRQGDQWWDQWDX[EHVRLQVGXSXEOLFHQJpQpUDOTXªjFHX[GªXQ
SXEOLFSOXVVSpFLDOLVp8QHDWWHQWLRQSDUWLFXOLqUHHVWSRUWpHDX[SURJUDPPHVHW
VHUYLFHV SURSRVpV DX[ HQIDQWV HW DX[ MHXQHV DXVVL ELHQ DX QLYHDX SULPDLUH
VHFRQGDLUHFROOpJLDOHWXQLYHUVLWDLUH
$X0$-QRXVFUR\RQVIHUPHPHQWTXHO
DUWHVWLQGLVSHQVDEOHDXELHQrWUHGHOD
FRPPXQDXWpHWTXªLOHVWXQHIRUFHVRFLDOHG\QDPLTXHTXLLQVSLUHOHVLQGLYLGXVHW
GpILQLW QRWUH FXOWXUH 1RV SURJUDPPHV G
pGXFDWLRQ HW QRV DFWLYLWpV FXOWXUHOOHV
GHV SOXV GLYHUVHV IDYRULVHQW OD GpFRXYHUWH OD FRQWHPSODWLRQ GH O
H[SUHVVLRQ
FUpDWULFH GHV DUWLVWHV pPHUJHQWV HW pWDEOLV WRXW HQ WpPRLJQDQW GH QRWUH
HQJDJHPHQWPDQLIHVWHHQYHUVWRXVOHVSXEOLFV
4XHFHVRLWjWUDYHUVOHSURMHW&RORULHUVLPSOHPHQWJpDQWIUXLWGHODUHQFRQWUH
GHMHXQHVGHHHWHDQQpHGH/DQDXGLqUHHWGXFROOHFWLIGHJUDSKLVWHVIUDQoDLV
6WXGLREUR RX HQFRUH OH SURMHW -HXQHV FRQVHUYDWHXUV GX IXWXU SURMHW
SDQFDQDGLHQ LQLWLp SDU OH 5pVHDX FDQDGLHQ GªLQIRUPDWLRQ VXU OH SDWULPRLQH GH
3DWULPRLQHFDQDGLHQHWD\DQWSRXUREMHFWLIGªLQLWLHUOHVMHXQHVGXVHFRQGDLUH
DXWUDYDLOHQPLOLHXPXVpDOOH0$-PXOWLSOLHOHVRSSRUWXQLWpVOXLSHUPHWWDQWGH
FROODERUHU DYHF OHV pFROHV GH VD UpJLRQ (Q FH VRQW OHV pFROHV
SULPDLUHV 6DLQWH7KpUqVH HW /HV 0pOq]HV GH -ROLHWWH 6LPRQ 3 2WWDZD GH OD
FRPPXQDXWp$WLNDPHNZGH0DQDZDQHWOªpFROHVHFRQGDLUH%DUWKpOHP\-ROLHWWH
GH-ROLHWWHTXLRQWSXGpYHORSSHUGHVSURMHWVRULJLQDX[DYHFQRWUH6HUYLFHpGXFDWLI
/H 6HUYLFH pGXFDWLI GX 0XVpH D pJDOHPHQW LQLWLp XQH VHPDLQH GªDFWLYLWpV
VSpFLDOHPHQW FRQoXHV SRXU OD UHOkFKH VFRODLUH /H 0$- D GRQF FRQYLp OHV
IDPLOOHV HW OHV FDPSV GH MRXU GH OD UpJLRQ j GpFRXYULU OHV H[SRVLWLRQV HW j
UpDOLVHU XQH FUpDWLRQ j UDSSRUWHU DYHF VRL /H IUDQF VXFFqV GH FHWWH SUHPLqUH
HQWUHSULVH GpPRQWUH FODLUHPHQW OD SDUWLFLSDWLRQ DFWLYH GX 0$- j OªHVVRU GHV
ORLVLUVHWGHODFXOWXUHVXUOHWHUULWRLUHGH/DQDXGLqUH
1RXV FUR\RQV TXH ORLQ GHV H[LJHQFHV VFRODLUHV QRXV SRXYRQV MRXHU XQ U{OH
LPSRUWDQWSHUPHWWDQWXQHUpXVVLWHTXLHVWWRXWDXWUHTXHFHOOHGHVFRPSpWHQFHV
UHTXLVHVjOªpFROHGXUDQWOªDQQpH,OQRXVSDUDvWHVVHQWLHOGHGRQQHUDX[HQIDQWV
GHVRXWLOVGLIIpUHQWVTXHFHX[RIIHUWVGXUDQWOªDQQpHVFRODLUH(QPLVDQWVXUGHV
DFWLYLWpV GH GpYHORSSHPHQW GH OHXU FUpDWLYLWp HW GDQV XQH DPELDQFH QRQ
VFRODLUHQRXVVRXKDLWRQVXWLOLVHUOH0$-FRPPHOLHXGªpYHLOjOªREVHUYDWLRQHWj
OD GpFRXYHUWH 2EVHUYHU OHXU HQYLURQQHPHQW HVW FH TXH SURSRVH DX[ HQIDQWV
FKDTXHDUWLVWHGRQWOHV¤XYUHVVRQWSUpVHQWpHVDX0$-
&HV TXHOTXHV SURMHWV pGXFDWLIV UHIOqWHQW WRXW OH G\QDPLVPH GX 0$- GRQW OHV
DFWLYLWpVTXLVRQWGHVSOXVGLYHUVLILpHVRQWSRXUEXWGªRSWLPLVHUODGLIIXVLRQHWOD
PpGLDWLRQGHVDUWVYLVXHOVDXSUqVGªXQSXEOLFOHSOXVODUJHSRVVLEOH'HSOXVLO
YLVH j UHMRLQGUH GHV MHXQHV TXL QªRQW SHXWrWUH SDV WRXMRXUV OD FKDQFH GH
EpQpILFLHU GªXQH RIIUH GH ORLVLU FXOWXUHO HQFRUH PRLQV GªDYRLU DFFqV j OD
SUpVHQFHGªDUWLVWHVSURIHVVLRQQHOVGDQVOHXUFRPPXQDXWp
(Q WHUPLQDQW QRXV VRXKDLWRQV VRXOLJQHU TXH OH 0$- HVW OH VHXO PXVpH GpGLp
DX[ EHDX[DUWV GDQV OD UpJLRQ GH /DQDXGLqUH HW TXªLO UHQIHUPH XQ SDWULPRLQH
XQLTXH HW UHFRQQX $SUqV DQV GªDFWLYLWpV QRXV IDLVRQVWRXMRXUV IDFH j XQH
VLWXDWLRQ FULWLTXH R PDOJUp GHV EXGJHWV pTXLOLEUpV VDQV DXFXQV GpILFLWV
UHSRUWpVOHVFRWVGªRSpUDWLRQJUXJHQWQRWUHPDUJHGHPDQ¤XYUH&HUDSSRUW
YLVH GRQF j PHWWUH HQ pYLGHQFH OH WUDYDLO UHPDUTXDEOH GªXQ PXVpH FRPSRVp
GªXQHpTXLSHKRUVSDLU
/(638%/,&$7,216
1RV FLQT SXEOLFDWLRQV ELOLQJXHV VRQW OH IUXLW GH FROODERUDWLRQV DYHF GHV
LQVWLWXWLRQVDXVVLELHQDX4XpEHFTX
HQ2QWDULRHQ&RORPELH%ULWDQQLTXHHWDX[
eWDWV8QLV
• :RUOG8SVLGH'RZQ/HPRQGHjO
HQYHUVSURGXLWHSDUOD:DOWHU3KLOOLSV
*DOOHU\OH0XVpHG
DUWGH-ROLHWWHOª$JQHV(WKHULQJWRQ$UW&HQWUHHWOª$UW
*DOOHU\RI*UHDWHU9LFWRULD
• $QRWKHU&LW\8QHDXWUHYLOOHSXEOLFDWLRQSURGXLWHSDUOH&HQWUH$9DQFRXYHU
,QWHUQDWLRQDO&HQWUHIRU&RQWHPSRUDU\$VLDQ$UWHWOH0XVpHGªDUWGH-ROLHWWH
• &ODXGLH*DJQRQSXEOLFDWLRQSURGXLWHSDU(;35(66,21&HQWUHGªH[SRVLWLRQGH
6DLQW+\DFLQWKH/ª2(LOGH3RLVVRQHWOH0XVpHGªDUWGH-ROLHWWH
• *DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQSURGXLWHSDUOH0XVpHGHVEHDX[DUWV
GX&DQDGDOH0XVpHFDQDGLHQGHODSKRWRJUDSKLHFDQDGLHQQHHWOH0XVpH
GªDUWGH-ROLHWWH
• *DERU6]LODVL7KH(ORTXHQFHRIWKH(YHU\GD\SURGXLWHSDUOH0XVpHGHV
EHDX[DUWVGX&DQDGDOH0XVpHFDQDGLHQGHODSKRWRJUDSKLHFDQDGLHQQHHWOH
0XVpHGªDUWGH-ROLHWWH
-H SURILWH GRQF GH FH PRPHQW SRXU UHPHUFLHU WRXV FHX[ HW FHOOHV TXL RQW
DSSX\p OªLQVWLWXWLRQ GDQV VHV HIIRUWV 0HUFL j QRV SUpFLHX[ FROODERUDWHXUV
DUWLVWHVGRQDWHXUVHWSDUWHQDLUHVDLQVLTX
jQRVGpYRXpVEpQpYROHVTXLJUkFHj
OHXU SDVVLRQ GHV DUWV YLVXHOV HW j OHXU ILGpOLWp QRXV SHUPHWWHQW G
RIIULU j QRV
YLVLWHXUV XQH H[SpULHQFH XQLTXH 6XUWRXW PHUFL j FKDFXQ GªHQWUH YRXV TXL rWHV
WRXMRXUVSOXVQRPEUHX[HWTXLDJLVVH]HQYpULWDEOHVDPEDVVDGHXUVGX0XVpHGDQV
YRWUHPLOLHX0HUFLjWRXVGHODFRQILDQFHTXHYRXVDFFRUGH]DX0XVpHG
DUWGH
-ROLHWWH
-H WLHQV HQILQ j VRXOLJQHU GªXQH SDUW OH WUDYDLO UHPDUTXDEOH GHV HPSOR\pV GX
0$-8QHGLUHFWULFHQHVDXUDLWGHPDQGHURXLPDJLQHUXQHpTXLSHSOXVHQJDJpH
HW SHUIRUPDQWH ¤XYUDQW GªDUUDFKHSLHG SRXU IDLUH IUXFWLILHU OHV EXGJHWV GRQW
QRXV GLVSRVRQV GDQV XQ FRQWH[WH GªpFRXWH HW GªHQWUDLGH KDXWHPHQW
SURIHVVLRQQHO 'ªDXWUH SDUW MH QH VDXUDLV RPHWWUH OH WUDYDLO GHV PHPEUHV GX
FRQVHLO GªDGPLQLVWUDWLRQ VRXV OD SUpVLGHQFH GH PRQVLHXU <YDQ *XLOEDXOW ,OV QH
FHVVHQWGHFRQWULEXHUjOªHVVRUGHQRWUHLPSRUWDQWHLQVWLWXWLRQ
*DsWDQH9HUQD
'LUHFWULFHJpQpUDOH
+,6725,48(
/HVRULJLQHVGX0XVpHG
DUWGH-ROLHWWHUHPRQWHQWDXGpEXWGHVDQQpHV
DYHF OªDPpQDJHPHQW SDU OD FRQJUpJDWLRQ GHV &OHUFV GH 6DLQW9LDWHXU GªXQH
JDOHULHGHSHLQWXUHVDX6pPLQDLUHGH-ROLHWWHVRXVODGLUHFWLRQGXSqUH:LOIULG
&RUEHLO FVY /D TXDOLWp GHV ¤XYUHV DFTXLVHV SDU OHV &OHUFV ¥
SDUPLOHVTXHOOHVVHWURXYHODFpOqEUHQDWXUHPRUWH/HVUDLVLQVYHUWVGH
3DXOePLOH %RUGXDV ¥ WpPRLJQH GX IODLU HW GH OªHVSULW GªDYDQWJDUGH GX SqUH
&RUEHLOHWGHVHVFROODERUDWHXUVHWSHUPHWELHQW{WDXPXVpHGX6pPLQDLUHGH
VH EkWLU XQH UpSXWDWLRQ HQYLDEOH $X ILO GHV DQV GH QRPEUHX[ GRQV YLHQQHQW
HQULFKLUODFROOHFWLRQGHSHLQWXUHVHWGHVFXOSWXUHVFDQDGLHQQHVFRQVWLWXpHSDU
OH SqUH &RUEHLO QRWDPPHQW FHOXL GX FKDQRLQH :LOIULG $QWKRQ\ 7LVGHOO TXLHQIDLWGRQDX0XVpHGHTXHOTXHSLqFHV/DFROOHFWLRQQH
FHVVHGHVªDFFURvWUHVLELHQTXªHQOHV&OHUFVGH6DLQW9LDWHXUHQFRQILHQW
ODJHVWLRQjXQFRPLWpFKDUJpGªHQDVVXUHUODSURPRWLRQ)RUPpHQWUHDXWUHV
SDUOHSqUH&RUEHLODLQVLTXªXQQRXYHDXFROODERUDWHXUOHIXWXUVpQDWHXU6HUJH
-R\DOOHFRPLWpHVWFRQVWLWXpOªDQQpHVXLYDQWHHQFRUSRUDWLRQDXWRQRPHVRXV
OHQRPGH0XVpHGªDUWGH-ROLHWWH
/RUVGHODFUpDWLRQGHVFpJHSVHQOH6pPLQDLUHFqGHVRQFRXUVFROOpJLDO
DXPLQLVWqUHGHOªeGXFDWLRQ,OHVWGªDERUGTXHVWLRQTXHOHQRXYHDX&pJHSGH
-ROLHWWHFRQVHUYHODFROOHFWLRQPDLVOªLGpHHVWYLWHDEDQGRQQpHHWOH0XVpHVH
YRLW IRUFp GH TXLWWHU OH 6pPLQDLUH (Q LO HPPpQDJH GDQV OHV ORFDX[ GH
OªDQFLHQ 6FRODVWLFDW 6DLQW&KDUOHV XQH VROXWLRQ TXL QH SHXW rWUH TXH
WHPSRUDLUH FDU OH FOHUJp VRXKDLWH VH GpSDUWLU GH OªpGLILFH 'qV ORUV SRXU OHV
UHVSRQVDEOHVGX0XVpHOHPRWGªRUGUHVHUDGHFRQVWUXLUH$SUqVGHORQJXHV
GpPDUFKHV DXSUqV GHV JRXYHUQHPHQWV IpGpUDO HW SURYLQFLDO SRXU REWHQLU GHV
RFWURLV GH IRQFWLRQQHPHQW HW GH FRQVWUXFWLRQ OD EkWLVVH DFWXHOOH HVW
RIILFLHOOHPHQWPLVHHQFKDQWLHUOHDRWHWRXYUHVHVSRUWHVDXSXEOLF
SUqVG
XQDQHWGHPLSOXVWDUGVRLWOHMDQYLHU
/H 0XVpH GªDUW GH -ROLHWWH OH 0$- VH SUpVHQWH DXMRXUGªKXL FRPPH OH SOXV
LPSRUWDQW PXVpH G
DUW DX 4XpEHF HQ GHKRUV GHV JUDQGV FHQWUHV 7RXW HQ
SRXUVXLYDQWOHWUDYDLOGHFRQVHUYDWLRQGHGLIIXVLRQHWGHUHFKHUFKHHQWUHSULVLO
\DSOXVGªXQGHPLVLqFOHSDUVHVIRQGDWHXUVOH0XVpHFRQWLQXHGªHQULFKLUVD
FROOHFWLRQSHUPDQHQWHTXLUHJURXSHjOªKHXUHDFWXHOOHSUqVGH¤XYUHV
UpSDUWLHVHQFLQTFROOHFWLRQVDUWFDQDGLHQDUWHXURSpHQDUWFRQWHPSRUDLQDUW
GpFRUDWLI HW DUFKpRORJLH (Q SDUDOOqOH LO RIIUH XQH SURJUDPPDWLRQ GLYHUVLILpH
DUWLFXOpH DXWRXU GH OD PLVH HQ YDOHXU GH VD FROOHFWLRQ SHUPDQHQWH HW GH OD
SUpVHQWDWLRQ GªH[SRVLWLRQV WHPSRUDLUHV DLQVL TXªXQH IRXOH GªDFWLYLWpV
pGXFDWLYHVHWFXOWXUHOOHVSRXUWRXVOHVSXEOLFV
0,66,21(70$1'$7
0XVpHGªDUWGH-ROLHWWHYXHGHOª¤XYUH:LOGILUHGHOªDUWLVWH6KD\QH'DUN
3KRWR5LFKDUG0D[7UHPEOD\
/H 0XVpH G
DUW GH -ROLHWWH D SRXU PLVVLRQ G
DFTXpULU GH FRQVHUYHU GH
PHWWUH HQ YDOHXU HW GH GLIIXVHU GHV ¤XYUHV DQFLHQQHV HW FRQWHPSRUDLQHV
G
DUWLVWHV TXpEpFRLV FDQDGLHQV HW pWUDQJHUV DX PR\HQ GªH[SRVLWLRQV HW
GªDFWLYLWpVFXOWXUHOOHVHWpGXFDWLYHV
/DFROOHFWLRQGX0XVpHG
DUWGH-ROLHWWHHVWDXMRXUG
KXLFRPSRVpHGHSUqVGH
¤XYUHV UpSDUWLHV HQ FROOHFWLRQV DUW FDQDGLHQ DUW HXURSpHQ DUW
FRQWHPSRUDLQ DUW GpFRUDWLI HW DUFKpRORJLH /D SROLWLTXH G
DFTXLVLWLRQ HW GH
GRFXPHQWDWLRQ GX 0XVpH GH PrPH TXH VHV QRPEUHXVHV FROODERUDWLRQV
DYHF GªDXWUHV LQVWLWXWLRQV GX 4XpEHF GX &DQDGD HW GH OªpWUDQJHU OXL
SHUPHWWHQW G
DWWHLQGUH VHV REMHFWLIV GH FRQVHUYDWLRQ GH VD FROOHFWLRQ HW GH
GHPHXUHUH[WUrPHPHQWG\QDPLTXHVXUOHSODQGHODUHFKHUFKH
6ªDGUHVVDQWjXQSXEOLFGHWRXVkJHVOH0XVpHG
DUWGH-ROLHWWHLQVFULWVHV
DFWLRQV GDQV XQH GpPDUFKH GH GpPRFUDWLVDWLRQ FXOWXUHOOH YLVDQW j UHQGUH
DFFHVVLEOHVOHVFRQQDLVVDQFHVpPHUJHQWHVGDQVOHGRPDLQHGHVDUWVYLVXHOV
/D GLIIXVLRQ GH FHV FRQQDLVVDQFHV VH FRQFUpWLVH SDU OD PLVH VXU SLHG
GªH[SRVLWLRQV SHUPDQHQWHV HW WHPSRUDLUHV DLQVL TXH SDU OD SXEOLFDWLRQ GH
FDWDORJXHVODPLVHHQFLUFXODWLRQGªH[SRVLWLRQVODUpDOLVDWLRQGHSURMHWVKRUV
OHVPXUVOHSUrWGª¤XYUHVGªDUWHWXQSURJUDPPHGHYLVLWHVFRPPHQWpHVHW
GªDFWLYLWpV pGXFDWLYHV HW FXOWXUHOOHV FRQIpUHQFHV UHQFRQWUHVFDXVHULHV
FRQFHUWVOHFWXUHVSXEOLTXHVYR\DJHVFXOWXUHOV
)5e48(17$7,21
0XVpHGªDUWGH-ROLHWWHYHUQLVVDJHGHOªH[SRVLWLRQ*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQ
3KRWR)UpGpULFN/XVVLHU
$YULO
0DL
-XLQ
-XLOOHW
$RW
6HSWHPEUH
2FWREUH
1RYHPEUH
'pFHPEUH
-DQYLHU
)pYULHU
0DUV
727$/
6200$,5('(65(9(186
35,;(7',67,1&7,216
0DUV
/$85e$75e*,21$/
'pFHUQpSDUOHV*UDQGV3UL[GXWRXULVPHTXpEpFRLV
&DWpJRULH$WWUDFWLRQVWRXULVWLTXHVPRLQVGHYLVLWHXUV
6XEYHQWLRQVIpGpUDOHV
6XEYHQWLRQVSURYLQFLDOHV
5HYHQXVDXWRQRPHV
6XEYHQWLRQVPXQLFLSDOHV
*DERU6]LODVLODXUpDWGXSUL[GX*RXYHUQHXUJpQpUDOHQDUWVYLVXHOVHWHQDUWVPpGLDWLTXHV
%XUHDXGX*RXYHUQHXUJpQpUDO
'RQV
/H0XVpHGªDUWGH-ROLHWWHVRXKDLWHpJDOHPHQWVRXOLJQHUODUHFRQQDLVVDQFHTXªD
UHoX OªDUWLVWH *DERU 6]LODVL ODXUpDW GHV 3UL[ 3DXOePLOH%RUGXDV HQ RFWREUH
HWGX3UL[GX*RXYHUQHXUJpQpUDOHQDUWVYLVXHOVHWHQDUWVPpGLDWLTXHV
HQ QRYHPEUH &HV SUHVWLJLHXVHV GLVWLQFWLRQVYLHQQHQW FRQILUPHUWDQW DX[
\HX[ GH VHV SDLUV TXªj FHX[ GH OªHQVHPEOH GHV 4XpEpFRLV HW GHV &DQDGLHQV
O
LQIOXHQFHGHFHJUDQGDUWLVWHGDQVOHGpYHORSSHPHQWGHOªDUWSKRWRJUDSKLTXHHW
OªLPSRUWDQFHGXU{OHTXªLORFFXSHHQFRUHDXMRXUGªKXLDXVHLQGHODFRPPXQDXWp
DUWLVWLTXH /H 0XVpH GªDUW GH -ROLHWWH HVW ILHU GªDYRLU SX FRQWULEXHU j OD
UHFRQQDLVVDQFH GX WUDYDLO GH FHW DUWLVWH GªH[FHSWLRQ HW WHQDLW j OXL UHQGUH LFL
OªH[SUHVVLRQGHVHVSOXVUHVSHFWXHX[KRPPDJHV
$FWLYLWpVEpQpILFHV
&RPPDQGLWHV
)RQGDWLRQVSULYpHV
9HUVR0XVpHGªDUWGH-ROLHWWH
9LVLWHFRPPHQWpHGHOªH[SRVLWLRQSHUPDQHQWH/HVVLqFOHVGHOªLPDJH
&2//(&7,21
$FTXLVLWLRQV
5HFKHUFKHHWGRFXPHQWDWLRQ
5pDPpQDJHPHQWGHVH[SRVLWLRQVSHUPDQHQWHV
&RQVHUYDWLRQHWUHVWDXUDWLRQ
8WLOLVDWLRQGHV¤XYUHVGHODFROOHFWLRQ
3UrWV
6HUYLFHGHFRQVXOWDWLRQ
6HUYLFHGHSKRWRJUDSKLHHWGHUHSURGXFWLRQ
3DUWHQDULDWV
'pSDUW
7UDYDLOHQUpVHUYH0XVpHGªDUWGH-ROLHWWH3KRWR5LFKDUG0D[7UHPEOD\
$&48,6,7,216
0(0%5(6'8&20,7e'
$&48,6,7,21
'HSXLVVHVWRXWGpEXWVFKH]OHV&OHUFVGH6DLQW9LDWHXUMXVTX
jDXMRXUG
KXL
OD FROOHFWLRQ GX 0XVpH G
DUW GH -ROLHWWH Q
D FHVVp GH V
HQULFKLU G
¤XYUHV
RIIHUWHV SDU XQH PXOWLWXGH GH GRQDWHXUV SULYpV G
RUJDQLVPHV GH IDEULTXHV
HWGHFRPPXQDXWpVUHOLJLHXVHV/DFROOHFWLRQTXLFRPSWHGpVRUPDLVSUqVGH
¤XYUHV HVW FRPSRVpH GªDUW FDQDGLHQ GªDUW HXURSpHQ GªDUW
FRQWHPSRUDLQ GªDUW GpFRUDWLI HW GªDUFKpRORJLH $ILQ G
rWUH HQ PHVXUH GH
SRXUVXLYUHVDPLVVLRQGHFROOHFWLRQQHPHQWOH0$-DGHSXLVHIIHFWXp
XQ WUDYDLO FRQVLGpUDEOH VXU VD FROOHFWLRQ DILQ G
HQ DPpOLRUHU OD JHVWLRQ OD
FRQVHUYDWLRQODFRQQDLVVDQFHHWOHGpYHORSSHPHQW&
HVWGDQVFHWWHRSWLTXH
TX
XQ PRUDWRLUH G
XQH GXUpH GH WURLV DQV D pWp LPSRVp VXU OªDFTXLVLWLRQ
Gª¤XYUHV HQ &HWWH SDXVH D SHUPLV DX 0$- GH PHWWUH VXU SLHG GqV
XQ FRPLWp VFLHQWLILTXH FRPSRVp GH PXVpRORJXHV HW G
KLVWRULHQV GH
O
DUW TXL DYDLW FRPPH PLVVLRQ GªH[DPLQHU OHV IRUFHV HW OHV FDUHQFHV GH OD
FROOHFWLRQ &RQIRUPpPHQW DX[ UHFKHUFKHV TXL RQW pWp PHQpHV VXU OD
FROOHFWLRQ DX FRXUV GHV GHX[ GHUQLqUHV DQQpHV GHV VSpFLDOLVWHV j
OªLQWHUQDWLRQDORQWpWpFRQVXOWpVDORUVTXHG
DXWUHVVRQWYHQXVjODGHPDQGH
GX 0$- DILQ G
pWXGLHU GHV FRUSXV SUpFLV WHOV TXH OHV SKRWRJUDSKLHV SDU
'DYLG +DUULV H[SHUW HW KLVWRULHQ GH OD SKRWRJUDSKLH FRPPLVVDLUH
LQGpSHQGDQW HW SURIHVVHXU j OD 6FKRRO RI ,PDJH $UWV 5\HUVRQ 8QLYHUVLW\
7RURQWR OHV OLYUHV G
DUWLVWHV SDU &ODXGHWWH +RXOG KLVWRULHQQH GH OªDUW OHV
JUDYXUHV SDU -DQ -RKQVRQ VSpFLDOLVWH GH OD JUDYXUH DQFLHQQH HW OHV
SHLQWXUHV FDQDGLHQQHV SDU -HIIUH\ 6SDOGLQJ PXVpRORJXH SURIHVVHXU HW
DUWLVWH &H WUDYDLO FRORVVDO D SHUPLV j O
LQVWLWXWLRQ G
DPpOLRUHU FRQVLGp
UDEOHPHQW OD FRQQDLVVDQFH GH VD FROOHFWLRQ HW GªHQ FHUQHU OHV IRUFHV HW OHV
IDLEOHVVHV&HWUDYDLOGRQWO
REMHFWLIpWDLWG
DVVXUHUODSpUHQQLWpGHV¤XYUHVD
SHUPLVGHFRQVROLGHUHWGHVWUXFWXUHUOHGpYHORSSHPHQWjORQJWHUPHGHOD
FROOHFWLRQ DXWRXU G
D[HV LQWpJUDWHXUV HW GH UpIOpFKLU j FHUWDLQHV SUREOp
PDWLTXHVLPSRUWDQWHVTX
LOFRPSWHUpJOHUDXFRXUVGHODSURFKDLQHDQQpHSDU
OHELDLVGHGHX[SURMHWVG
HQYHUJXUHOHSURMHWGHQRUPDOLVDWLRQGXGpS{WGHV
&OHUFVGH6DLQW9LDWHXUHW FHOXLGHUpGDFWLRQG
XQHSROLWLTXHGHJHVWLRQGHV
FROOHFWLRQV &HV GHX[ SURMHWV SHUPHWWURQW DX 0$- G
rWUH HQ PHVXUH GH
SRXUVXLYUHVDPLVVLRQGHFROOHFWLRQQHPHQW
7RXMRXUVGDQVOHVRXFLGHSRUWHUXQHUpIOH[LRQLQWpJUpHHWVWUXFWXUpHVXUOHV
RIIUHV GH GRQ OH 0$- D UHPLV VXU SLHG VXLWH DX PRUDWRLUH GH XQ
FRPLWp GªDFTXLVLWLRQ H[WHUQH FRPSRVp GªKLVWRULHQV GªDUW GH FULWLTXHV GH
PDUFKDQGV HW GH FROOHFWLRQQHXUV TXL D FRPPH PDQGDW GªpWXGLHU HW
GªH[DPLQHU OHV ¤XYUHV RIIHUWHV HQ GRQ DILQ GH VRXPHWWUH VHV
UHFRPPDQGDWLRQVDX0$-
35e6,'(17 3LHUUH9LQFHQW
(QVHLJQDQWHQDUWVSODVWLTXHVjOªpFROHVHFRQGDLUH(VSDFH-HXQHVVH
5HWUDLWp
0(0%5(6
-XOLH%pOLVOH
$JHQWHGHUHFKHUFKHHWUHVSRQVDEOHGHVSURJUDPPHVSXEOLFVjOD
*DOHULHGHO
84$0HWFRPPLVVDLUHLQGpSHQGDQWH
&ODXGH%R\HU'U
5HWUDLWp
*LOOHV*RGPHU
&RQVHUYDWHXUDX0XVpHGªDUWFRQWHPSRUDLQGH0RQWUpDO
5HWUDLWp
'HQLV/RQJFKDPSV3K'
$GPLQLVWUDWHXUjOª,QVWLWXWGHUHFKHUFKHHQDUWFDQDGLHQ*DLO
HW6WHSKHQ$-DULVORZVN\8QLYHUVLWp&RQFRUGLD
3LHUUH)UDQoRLV2XHOOHWWH
'LUHFWHXUGHODJDOHULH3LHUUH)UDQoRLV2XHOOHWWHDUWFRQWHPSRUDLQ
*DsWDQH9HUQD
'LUHFWULFHJpQpUDOHGX0XVpHGªDUWGH-ROLHWWH
$X FRXUV GH OD GHUQLqUH DQQpH ILQDQFLqUH OH 0$- D DFTXLV SDU YRLH GH
GRQDWLRQVHSW¤XYUHVGªDUWLVWHVGHSURYHQDQFHHWGªpSRTXHYDULpHV1RWRQV
O
DFTXLVLWLRQGHO
¤XYUHGH6KD\QH'DUN:LOGILUHTXHOH0$-DWHQX
j DFTXpULU VXLWH j O
H[SRVLWLRQ )HX[ GªKLYHU /
LQVWDOODWLRQ GH ERLV SHLQW HQ
URXJH HW LQVWDOOpH GDQV O
pUDEOH VXU OH SDUWHUUH GX 0XVpH HVW GHYHQXH HQ
TXHOTXHVRUWHHPEOpPDWLTXHGHO
LQVWLWXWLRQ
'ªDXWUHV ¤XYUHV RQW pJDOHPHQW IDLW OªREMHW GªDFTXLVLWLRQ VXLWH j XQH
H[SRVLWLRQ(QHIIHWOH0$-DWHQXjHQULFKLUVDFROOHFWLRQGHGHX[¤XYUHV
GH O
DUWLVWH G
RULJLQH ODQDXGRLVH )UDQoRLV /DFDVVH VXLWH j OªH[SRVLWLRQ ELODQ
TXH OH 0XVpH OXL D FRQVDFUpH /HV ¤XYUHV *UDQGHV SXOVLRQV ,, HW
3UpPLVVHV ,, HIIHFWXHURQW OHXU SUHPLqUH VRUWLH j OªRFFDVLRQ GH OD
FLUFXODWLRQSDQFDQDGLHQQHGHO
H[SRVLWLRQTXLGpEXWHUDjOªKLYHU
8Q JpQpUHX[ GRQ SURYHQDQW GH *X\ 0ROLQDUL ILOV GH O
DUWLVWH *XLGR 0ROLQDUL D
SHUPLVDX0$-GHVHGRWHUG
XQHLPSRVDQWH¤XYUHGHFHWLQFRQWRXUQDEOHDUWLVWH
SODVWLFLHQ %LWULDQJXODLUH YLHQW HQULFKLU OH JURXSH GH ¤XYUHV TXH OH
0$- SRVVqGH GH OªDUWLVWH HW YLHQGUD pJDOHPHQW V
DMRXWHU DX FRUSXV TXL VHUD
SUpVHQWpORUVGHODUpRXYHUWXUHGHODQRXYHOOHH[SRVLWLRQSHUPDQHQWHGX0XVpH
/D GHUQLqUH DQQpH PDUTXH pJDOHPHQW OD SUHPLqUH DFTXLVLWLRQ G
XQH ¤XYUH
YLGpRJUDSKLTXH SDU OH 0$- UHIOpWDQW j OD IRLV VD SURJUDPPDWLRQ DQQXHOOH
GDQV ODTXHOOH VRQW SUpVHQWpHV UpJXOLqUHPHQW GHV ¤XYUHV PpGLDWLTXHV GH
PrPH TXH OD YRORQWp GH UHSUpVHQWHU OD GLYHUVLWp GHV SUDWLTXHV DUWLVWLTXHV
FRQWHPSRUDLQHVDXVHLQGHVDFROOHFWLRQ7UDYHOOLQJZLWKP\,QIODWDEOH5RRP
GHO
DUWLVWH$QD5HZDNRZLF]HVWXQHLQVWDOODWLRQYLGpRJUDSKLTXHTXL
SUpVHQWHXQPRQWDJHGªLPDJHVSUpOHYpHVORUVGXYR\DJHSHUIRUPDWLITXªDIDLW
OªDUWLVWHDFFRPSDJQpHGªXQHUpSOLTXHJRQIODEOHGHVDFKDPEUH
3RXUWHUPLQHUFHWWHDQQpHULFKHHQGRQDWLRQVOH0$-DIDLWO
DFTXLVLWLRQGH
GHX[ JUDYXUHV RIIHUWHV SDU PDGDPH 9LUJLQLD /H0R\QH /
XQH GH *HRUJ
3HQF] +pURGLDGH HW OD WrWH GH VDLQW -HDQ%DSWLVWH ;9,H VLqFOH YLHQW VH
JUHIIHU DX FRUSXV GH JUDYXUHV DQFLHQQHV GH JUDQGV PDvWUHV HXURSpHQV
GpWHQXSDUOH0$-HWO
DXWUHGH*HRUJHV5RXDXOWLQWLWXOpH'HPDLQVHUDEHDX
GLVDLWOHQDXIUDJpGHODVpULH0LVHUHUHjFHOXLGHO
eFROHGH3DULV
$&48,6,7,21¥$57&217(0325$,1
9XHGª¤XYUHVGHODUpVHUYH0XVpHGªDUWGH-ROLHWWH
*8,'202/,1$5,
%LWULDQJXODLUH
$FU\OLTXHVXUWRLOH
[FP
'RQGH*X\0ROLQDUL
$&48,6,7,21¥$57&217(0325$,1
$&48,6,7,21¥$57(8523e(1
6+$<1('$5.
:LOGILUH
%RLVHWSLJPHQW
;;FPDSSUR[LPDWLI
'RQGHOªDUWLVWH
*(25*3(1&=
+pURGLDGHHWODWrWHGHVDLQW-HDQ%DSWLVWH;9,HVLqFOH
*UDYXUHDXEXULQ
[FP
ODPpPRLUHGH5D\PRQG'/H0R\QH
$&48,6,7,21¥$57(8523e(1
$&48,6,7,21¥$57&217(0325$,1
*(25*(6528$8/7
'HPDLQVHUDEHDXGLVDLWOHQDXIUDJpVpULH0LVHUHUHGpWDLO
(DXIRUWH
[FP
ODPpPRLUHGH5D\PRQG'/H0R\QH
$1$5(:$.2:,&=
7UDYHOOLQJZLWKP\,QIODWDEOH5RRP
3URMHFWLRQYLGpRVXUGHX[FDQDX[pG
PLQV
'RQGHOªDUWLVWH
$&48,6,7,21¥$57&217(0325$,1
)5$1d2,6/$&$66(
3UpPLVVHV,,
$FU\OLTXHHWHQFUHVXUWRLOH
[FPHQVHPEOH
'RQGHOªDUWLVWH
$&48,6,7,21¥$57&217(0325$,1
)5$1d2,6/$&$66(
*UDQGHVSXOVLRQV,,
$FU\OLTXHHWHQFUHVXUWRLOH
[FP
'RQGHOªDUWLVWH
5(&+(5&+((7'2&80(17$7,21
'HSXLV GH QRPEUHXVHV DQQpHV OH 0XVpH SURFqGH V\VWpPDWLTXHPHQW j XQH
pWXGH DSSURIRQGLH GH WRXWHV OHV ¤XYUHV SURSRVpHV HQ GRQ OD UHFKHUFKH
SHUPHWGHFRQQDvWUHOªDUWLVWHHWVDGpPDUFKHHWDLQVLpWDEOLUOªLPSRUWDQFHHWOD
SHUWLQHQFH GH Oª¤XYUH GDQV OD FROOHFWLRQ GX 0$- /RUVTXH OH SURFHVVXV
GªDFTXLVLWLRQ HVW FRPSOpWp OH 0XVpH DUFKLYH OD GRFXPHQWDWLRQ FXPXOpH VXU OD
QRXYHOOH DFTXLVLWLRQ GDQV OD EDVH GH GRQQpHV GH VHV FROOHFWLRQV HW GDQV GHV
GRVVLHUVGª¤XYUHHWGªDUWLVWH$XFRXUVGHODGHUQLqUHDQQpHOH0$-DPLVVXU
SLHGXQHQRXYHOOHIRUPXOHOH5DSSRUWGHUHFKHUFKHTXLSHUPHWGHGRFXPHQWHU
GH IDoRQ EHDXFRXS SOXV FRPSOqWH HW V\VWpPDWLTXH OHV RIIUHV GH GRQ TXL VRQW
SUpVHQWpHVDXFRPLWpGªDFTXLVLWLRQH[WHUQH
'HSXLV OHV GHX[ GHUQLqUHV DQQpHV XQH UHFKHUFKH GH IRQG D pWp PHQpH VXU
O
KLVWRLUH GH O
LQVWLWXWLRQ VXU VHV FROOHFWLRQV HW VXU VHV ¤XYUHV UHFKHUFKH TXL
DERXWLUDVXUODSXEOLFDWLRQGªXQJXLGHGHVFROOHFWLRQVDXSULQWHPSVHWVXU
ODQRXYHOOHH[SRVLWLRQSHUPDQHQWHTXLYHUUDOHMRXUGDQVOHVSURFKDLQHVDQQpHV
VXLWH j OD UpQRYDWLRQ GX EkWLPHQW 'DQV OH FRQWH[WH GH FHV WUDYDX[ OD
FRQVXOWDWLRQGHQRPEUHX[VSpFLDOLVWHVDSHUPLVDX0$-GªDWWULEXHUHWGHGDWHU
TXHOTXHV ¤XYUHV HXURSpHQQHV DQFLHQQHV HW GH GRFXPHQWHU SOXV GH ¤XYUHV GH OD FROOHFWLRQ /ªpTXLSH GX 0$- D GpVRUPDLV XQH FRQQDLVVDQFH
DFFUXH GH VD FROOHFWLRQ GHV GLIIpUHQWV FRUSXV TXL OD FRPSRVHQW HW GH VHV
FKHIVGª¤XYUH
'XUDQWFHWWHDQQpHGHX[H[DPHQVVFLHQWLILTXHVRQWpJDOHPHQWSHUPLVDX0$-
GªHQULFKLU FRQVLGpUDEOHPHQW OD FRQQDLVVDQFH GH VD FROOHFWLRQ *UkFH j XQH
DQDO\VH VFLHQWLILTXH PHQpH SDU Oª,QVWLWXW FDQDGLHQ GH FRQVHUYDWLRQ j 2WWDZD
OªLGHQWLILFDWLRQ GHV SLJPHQWV HW GX VXSSRUW GªXQH ¤XYUH DWWULEXpH j 6DQR GL
3LHWUR"QRXVDSHUPLVGHUHVLWXHUDYHFH[DFWLWXGHODUpDOLVDWLRQ
GHOª¤XYUHDX ;,;HVLqFOH/ªDQDO\VHGHOD FROOHFWLRQGªLYRLUHULHGX0$-SDUOH
&HQWUH GH FRQVHUYDWLRQ GX 4XpEHF D SHUPLV TXDQW j HOOH GH FRQILUPHU TXH
OªHQVHPEOHGHVSLqFHVVRQWYpULWDEOHPHQWVFXOSWpHVGDQVOªLYRLUHHWQRQGDQVXQ
PDWpULDXFRPSRVLWH
$X FRXUV GX SURMHW GH UpDPpQDJHPHQW GHV H[SRVLWLRQV SHUPDQHQWHV GH
QRPEUHX[ VSpFLDOLVWHV j O
LQWHUQDWLRQDO RQW pJDOHPHQW pWp FRQWDFWpV /HV
WUDYDX[GHUHFKHUFKHVXUO
¤XYUH&KULVWGHGRXOHXUVVDLQWH0DGHOHLQHHWVDLQW
-pU{PH MDGLV DWWULEXpH j O
pFROH GH 3URYHQFH SDU &KDUOHV 6WHUOLQJ HQ QRXVRQWDPHQpVjSUHQGUHFRQWDFWDYHFXQHVSpFLDOLVWHGHV3ULPLWLIVIUDQoDLV
'RPLQLTXH7KLpEDXWFRQVHUYDWULFHDX0XVpHGX/RXYUH VDVXJJHVWLRQQRXV
DYRQV FRQWDFWp &DUO %UDQGRQ 6WUHKONH VSpFLDOLVWH GHV 3ULPLWLIV HVSDJQROV FH
TXL VHORQ 0PH 7KLpEDXW FRUUHVSRQGDLW GDYDQWDJH DX VW\OH GXWDEOHDX $SUqV
DYRLUYXGHVSKRWRJUDSKLHVGHO
¤XYUH06WUHKONHDGpFLGpGHYHQLUDX0XVpH
G
DUWGH-ROLHWWHDILQGªH[DPLQHUO
¤XYUHSOXVDWWHQWLYHPHQW&
HVWDLQVLTXH&DUO
%UDQGRQ 6WUHKONH VSpFLDOLVWH GHV 3ULPLWLIV LWDOLHQV HW HVSDJQROV DFFRPSDJQp
GH -RVHSK 5LVKHO VSpFLDOLVWH GH &p]DQQH WRXV OHV GHX[ FRQVHUYDWHXUV DX
3KLODGHOSKLD0XVHXPRI$UWVRQWDUULYpVDX0XVpHOHQRYHPEUH/RUV
GHOHXUYLVLWH06WUHKONHDGpPRQWUpXQLPSRUWDQWLQWpUrWSRXUOHSDQQHDXHW
JUkFH j VD JUDQGH H[SHUWLVH VXU OHV SHLQWUHV YDOHQFLHQV GH FHWWH pSRTXH LO D
PrPHSXVHSURQRQFHUVXUXQHQRXYHOOHDWWULEXWLRQGHO
¤XYUHjO
DUWLVWH-RDQ
5HL[DFDFWLIHQWUH
5e$0e1$*(0(17
'(6(;326,7,2163(50$1(17(6
(Q OH PLQLVWqUH GH OD &XOWXUH GHV &RPPXQLFDWLRQV HW GH OD &RQGLWLRQ
IpPLQLQH GX 4XpEHF 0&&&) D DFFRUGp XQH VXEYHQWLRQ GH DX
0XVpH G
DUW GH -ROLHWWH DILQ GH OXL SHUPHWWUH GH UpDPpQDJHU VHV VDOOHV
GªH[SRVLWLRQ SHUPDQHQWH DPpQDJHPHQW TXL GDWDLW GH FHW HIIHW DX
FRXUV GHV GHX[ GHUQLqUHV DQQpHV )UDQFH 7ULQTXH KLVWRULHQQH GH OªDUW HW
0DULH+pOqQH )RLV\ PXVpRORJXH RQW pWp HPEDXFKpHV DILQ GH WUDYDLOOHU
VSpFLILTXHPHQWVXUFHSURMHW$ILQGHSRUWHUSOXVORLQODUpIOH[LRQHWYDOLGHUOH
WUDYDLO GH UHFKHUFKH GH VpOHFWLRQ HW GH FRQFHSWXDOLVDWLRQ GH OªH[SRVLWLRQ
O
pTXLSH GH FRQVHUYDWLRQ GX 0XVpH V
HVW DGMRLQW XQ FRPLWp VFLHQWLILTXH
FRQVWLWXp GH -RKDQQH &KDJQRQ GRFWRUDQWH HQ KLVWRLUH GH OªDUW j Oª8QLYHUVLWp
/DYDO&ODXGHWWH+RXOGKLVWRULHQQHGHOªDUWHWSURIHVVHXUHDVVRFLpHjOª84 0
/DXULHU/DFURL[KLVWRULHQGHOªDUWHWSURIHVVHXUDVVRFLpjOª84 0$QQH0DULH
1LQDFV GRFWRUDQWH HQ KLVWRLUH GH OªDUW GH 8QLYHUVLWp GH 0RQWUpDO HW 'LGLHU
3ULRXOSURIHVVHXUHWGLUHFWHXUGHSURJUDPPHHQKLVWRLUHGHOªDUWjOª8QLYHUVLWp
/DYDO
(Q UDLVRQ GX SURMHW GH UpQRYDWLRQ GX 0XVpH DFWXHOOHPHQW j OªpWXGH SDU OH
0&&&)ODGDWHGHUpRXYHUWXUHGHOªH[SRVLWLRQSHUPDQHQWHSUpYXHHQMXLQ
D pWp UHSRUWpH 7RXWHIRLV GDQV XQH YRORQWp GH UHVSHFWHU VHV pFKpDQFLHUV
WRXWHVOHVpWDSHVGHUpDOLVDWLRQGHOªH[SRVLWLRQGHYDLHQWDYRLUpWpWHUPLQpHVHQ
MXLQ VRLW OD SODQLILFDWLRQ OD UHFKHUFKH OD VpOHFWLRQ GHV ¤XYUHV OD
VFpQDULVDWLRQOHGHVLJQHWODUpGDFWLRQGªRXWLOVGLGDFWLTXHV'HSOXVWRXMRXUVj
OªLQWpULHXUGXPrPHSURMHWODUpGDFWLRQGXJXLGHGHODFROOHFWLRQTXLVHUDODQFp
DX SULQWHPSV pWDLW FRQVLGpUDEOHPHQW DFKHYp j OD ILQ GH OªDQQpH
ILQDQFLqUH &HW LPSRVDQW RXYUDJH FRQVWLWXHUD OH GHX[LqPH JXLGH GH OD
FROOHFWLRQ VXLYDQW FHOXL UpGLJp SDU OH IRQGDWHXU GX 0XVpH OH SqUH :LOIULG
&RUEHLO FVY HQ WUDYHUV VHV TXHOTXH SDJHV VHURQW UpXQLV OHV
WH[WHVGHGLYHUVDXWHXUVKLVWRULHQVGHOªDUWHWPXVpRORJXHVTXLFRQWULEXHURQW
DLQVL j OD PLVH HQ YDOHXU HW j OD GLIIXVLRQ GH OD FRQQDLVVDQFH GH SOXV GªXQH
FHQWDLQHGª¤XYUHVGHGLYHUVHVpSRTXHVHWSURYHQDQFHV/DUHFKHUFKHD\DQW
pWpPHQpHVXUODFROOHFWLRQHWVXUOªKLVWRLUHGHOªLQVWLWXWLRQJUkFHDXSURMHWGH
UHQRXYHOOHPHQWGHOªH[SRVLWLRQSHUPDQHQWHVHUDDLQVLSDUWDJpHDYHFOHJUDQG
SXEOLFjWUDYHUVGHVWH[WHVSRUWDQWVXUOªKLVWRLUHGX0XVpHHWVXUODFROOHFWLRQ
HW VXU XQH VpOHFWLRQ Gª¤XYUHV UHSUpVHQWDQW OHV FRUSXV GªDUW FDQDGLHQ GªDUW
HXURSpHQ GªDUW FRQWHPSRUDLQ GªDUW GpFRUDWLI HW GªDUFKpRORJLH UHSUpVHQWpV
GDQVODFROOHFWLRQGX0$-
&216(59$7,21(75(67$85$7,21
$X0$-OHUHVSHFWGHVVWDQGDUGVGHFRQVHUYDWLRQGHV¤XYUHVVHPHVXUHSDU
OD PLVH HQ DSSOLFDWLRQ TXRWLGLHQQH GHV SULQFLSHV UHFRQQXV HQ PDWLqUH GH
FRQVHUYDWLRQSUpYHQWLYHWHOV TXHO
DQDO\VHHWODJHVWLRQGHO
HQYLURQQHPHQWHW
GHV IDFWHXUV GH ULVTXH OD PDQLSXODWLRQ OHV FRQGLWLRQV GH VWRFNDJH RX GH
SUpVHQWDWLRQ DLQVL TXH OD FRQQDLVVDQFH PDWpULHOOH GHV ¤XYUHV /D ERQQH
FRQVHUYDWLRQ GHV ¤XYUHV FRPPHQFH pYLGHPPHQW SDU OD SUpYHQWLRQ GHV
ULVTXHV HW FªHVW SRXUTXRL OH 0$- D DPRUFp OD UpGDFWLRQ GªXQ SODQ GH
SUpYHQWLRQ HW GªLQWHUYHQWLRQ HQ FDV GH VLQLVWUH GRQW XQH LPSRUWDQWH SRUWLRQ
VHUDGpGLpHjODVpFXULWpHWjODSURWHFWLRQGHVHVFROOHFWLRQV
(Q VªDFTXLWWDQW GH VD UHVSRQVDELOLWp HQ PDWLqUH GH FRQVHUYDWLRQ GHV ELHQV
FXOWXUHOV HW VXLWH j OD GHPDQGH GpSRVpH SDU 3DWULPRLQH FDQDGLHQ OH 0XVpH
GpSORLH WRXV VHV HIIRUWV SRXU OD UHFRQGXFWLRQ GH VD FDWpJRULH $ HW LQWHQVLILH
VHV DFWLRQV DILQ GH PDLQWHQLU OD TXDOLWp GH VHV pTXLSHPHQWV HW GH VHV
LQVWDOODWLRQV(QPDWLqUHGHUHVWDXUDWLRQOH0XVpHIDLWDSSHODQQXHOOHPHQWDX
&HQWUH GH FRQVHUYDWLRQ GX 4XpEHF DILQ GH SURFpGHU DX WUDLWHPHQW Gª¤XYUHV
HQ YXH GH OHXU VDXYHJDUGH 3RXU OªDQQpH HQ FRXUV TXDWUH ¤XYUHV VRQW
UHYHQXHVDX0XVpHVXLWHjXQHUHVWDXUDWLRQXQFROODJHGH&ODXGH7RXVLJQDQW
6DQV WLWUH D pWp UHIL[p HW FRQVROLGp XQH KXLOH VXU WRLOH GH .LWWLH
%UXQHDX2LVHDX[GHQXLWDVXELXQQHWWR\DJHHWXQGpYHUQLVVDJHDYDQW
TXH OD FRXFKH SLFWXUDOH QH VRLW FRQVROLGpH SXLV UHWRXFKpH XQH HQFDXVWLTXH
GH -RFHO\Q -HDQ 6DQV WLWUH D pWp UHWRXFKpH HW FRQVROLGpH SXLV XQH
KXLOHVXUWRLOHVHUWLHGHSLHUUHVGªXQDUWLVWHDQRQ\PHLQWLWXOpH0DWHU'RORUXP
;9,,,HVLqFOHDpWpFRQVROLGpHUHWRXFKpHSXLVUHYHUQLH
/H SURJUDPPH GH UHVWDXUDWLRQ SRXU O
DQQpH VH FRPSOqWH
pJDOHPHQW SDU OH WUDLWHPHQW GH GHX[ ¤XYUHV GªDUW HXURSpHQ TXL VHURQW
SUpVHQWpHV GDQV OD QRXYHOOH H[SRVLWLRQ SHUPDQHQWH /HV WUDYDX[ GH
UHVWDXUDWLRQ GX 3UpFXUVHXU XQH ¤XYUH UpDOLVpH SDU XQ DQRQ\PH LWDOLHQ DX
;9,,HVLqFOHDLQVLTXHGªXQHVDLQWH0DULH0DGHOHLQHUpDOLVpHSDUXQDQRQ\PH
IODPDQGDX;9,,HVLqFOHGªDSUqVOH&RUUqJHRQWpWpPHQpVSDUODUHVWDXUDWULFH
*LQD*DUFLD
87,/,6$7,21'(6£895(6
'(/$&2//(&7,21
(;326,7,2163(50$1(17(6
/ªH[SRVLWLRQ SHUPDQHQWH LQWLWXOpH /HV VLqFOHV GH OªLPDJH /D FROOHFWLRQ
SHUPDQHQWH GX ;9H VLqFOH j QRV MRXUV SUpVHQWH DFWXHOOHPHQW XQ SDUFRXUV
FKURQRORJLTXHjWUDYHUV¤XYUHVGHWRXWHVOHVpSRTXHVHWSURYHQDQFHV$X
FRXUVGHODGHUQLqUHDQQpHSOXVLHXUV¤XYUHVSUpVHQWpHVGDQVFHWWHH[SRVLWLRQ
RQWIDLWOªREMHWGHURWDWLRQSRXUGHVUDLVRQVGHFRQVHUYDWLRQSUpYHQWLYHGHSUrW
RX GH UHVWDXUDWLRQ $LQVL OHV YLVLWHXUV RQW SX DSSUpFLHU TXHOTXHV ¤XYUHV
QRXYHOOHPHQW VRUWLHV GHV UpVHUYHV 'H SOXV VXLWH DX[ UHFKHUFKHV PHQpHV
SRXU OH SURMHW GH UHQRXYHOOHPHQW GH OªH[SRVLWLRQ SHUPDQHQWH SOXVLHXUV
LQIRUPDWLRQV VXU OHV FDUWHOV RQW pWp PLVHV j MRXU RIIUDQW WRXWHV OHV
LQIRUPDWLRQVGLVSRQLEOHVVXUOHV¤XYUHV
¤XYUHV
/(66,º&/(6'(/ª,0$*(
/$&2//(&7,213(50$1(17(
'8;9H6,º&/( 126-2856
EXPOSITIONS VIRTUELLES /H 0$-WLHQW j PHWWUH HQYDOHXU OHV ¤XYUHV GH VD FROOHFWLRQ DXSUqV GX SOXV
ODUJH SXEOLF SRVVLEOH HW FURLW IHUPHPHQW TXH OHV QRXYHOOHV WHFKQRORJLHV
SHXYHQW \ FRQWULEXHU &ªHVW GDQV FHWWH RSWLTXH TXªLO SUpVHQWH GHV H[SRVLWLRQV
YLUWXHOOHV TXL SHUPHWWHQW OH UHJURXSHPHQW Gª¤XYUHV SDU OD FUpDWLRQ GH OLHQV
WKpPDWLTXHV/ª H[S R VL WL R Q Y LU WX H O OH 3H UV S H FW L Y H V )H PP H V DUWL VW H V
HQ $ Pp UL TX H GX 1RUG KpEHUJpH SDU OH 0XVpH YLUWXHO GX &DQDGD
ZZZYLUWXDOPXVHXPFD([KLELWLRQV3HUVSHFWLYHVSUpVHQWHGHV¤XYUHVLVVXHV
GHGLYHUVPXVpHVFDQDGLHQVDX[TXHOOHVOHVYLQJWKXLW¤XYUHVGX0XVpHGªDUW
GH -ROLHWWH YLHQQHQW VªDMRXWHU /H VLWH ,WLQpUDLUH HQ DUW FRQWHPSRUDLQ
ZZZLWLQHUDUWFD D SRXU REMHFWLI GH IDLUH GpFRXYULU OªDUW FRQWHPSRUDLQ DX[
MHXQHV HW PRLQV MHXQHV SDU OH ELDLV GªXQH VpOHFWLRQ GH ¤XYUHV GH OD
FROOHFWLRQGX0$-7RXVFHVVLWHVLQWHUDFWLIVGRQQHQWDFFqVGLUHFWHPHQWjQRV
FROOHFWLRQVHWWUDGXLVHQWpJDOHPHQWOHU{OHHVVHQWLHOTXHMRXHOH0$-DXSUqVGH
VHVGLYHUVSXEOLFV
35·76
/HVGHPDQGHVGHSUrWUHoXHVDX0XVpHSDUGLYHUVHVLQVWLWXWLRQV¥\FRPSULV
GH SUHVWLJLHX[ PXVpHV GªDUW GH UHQRPPpH LQWHUQDWLRQDOH ¥ FRQILUPHQW
OªLPSRUWDQFH HW OD TXDOLWp GH OD FROOHFWLRQ GX 0XVpH $X FRXUV GH OD GHUQLqUH
DQQpH OH 6HUYLFH GHV FROOHFWLRQV D UpSRQGX j QHXI LQVWLWXWLRQV TXL RQW
HPSUXQWp VHL]H ¤XYUHV DILQ GªHQULFKLU OHXU H[SRVLWLRQ WHPSRUDLUH RX
SHUPDQHQWH(QSUrWDQWGHV¤XYUHVGHVDFROOHFWLRQOH0XVpHFKHUFKHDLQVLj
IDLUHUD\RQQHUVDFROOHFWLRQDXSUqVGªXQODUJHSXEOLFHWUHMRLQGUHXQSOXVJUDQG
QRPEUH GH FKHUFKHXUV WRXW HQ WLVVDQW GHV OLHQV pWURLWV DYHF OD FRPPXQDXWp
PXVpDOHHWOHSXEOLF
£XYUHVWLUpHVGHOD
FROOHFWLRQGX0$-
3UrWVSRXUH[SRVLWLRQV
3UrWVGHIRQFWLRQ
3UrWVSRXUH[SRVLWLRQVLWLQpUDQWHV
727$/
/HV HQWHQWHV GH SUrW SRXU GHV H[SRVLWLRQV RQW pWp VLJQpHV DYHF OHV
RUJDQLVPHVVXLYDQWV
086e('(/$&,9,/,6$7,2148e%(&£895(6
3RXUOªH[SRVLWLRQ&RS\ULJKWKXPDLQ
3UpVHQWpHGXQRYHPEUHDXVHSWHPEUH
5REHU5DFLQH
3DJHPLURLUGpERXFKHPHQWPDUFKp¥KLYHUGpEUDLOOp
$VVHPEODJH
3LHUUH$OHFKLQVN\
)RUPHVGHOªpFULWXUHWLUpHGHOªDOEXP$OHFKLQVN\&DOGHU5LRSHOOH
/LWKRJUDSKLH
086e('ª$57&217(0325$,1'(02175e$/02175e$/¥£895(6
3RXUOªH[SRVLWLRQ&ODXGH7RXVLJQDQW8QHUpWURVSHFWLYH
3UpVHQWpHGXIpYULHUDXDYULO
&ODXGH7RXVLJQDQW
/HWUDSq]HQRLU
$FU\OLTXHVXUWRLOH
&ODXGH7RXVLJQDQW
/DFURL[VXSUpPDWLVWH
$FU\OLTXHVXUWRLOH
086e('8%$66$,17/$85(175,9,º5('8/283¥£895(6
3RXUOªH[SRVLWLRQ6FXOSWXUHGHPDVVH
3UpVHQWpHGXHUMXLOOHWDXMXLQ
$UPDQG9DLOODQFRXUW
/HV3UL[GX4XpEHF
$FU\OLTXHVXUWRLOH
3RXUOªH[SRVLWLRQ/ªDUSHQWHXUGHVJUDQGVHVSDFHV)HUQDQG7RXSLQ
3UpVHQWpHGXMXLQDXRFWREUH
)HUQDQG7RXSLQ
6DQVWLWUH>pWXGHSRXUOHOLYUH3URFKDLQpSLVRGH@
$FU\OLTXHVXUWRLOHFDUWRQQpH
([SRVLWLRQ/ªDUSHQWHXUGHVJUDQGVHVSDFHV)HUQDQG7RXSLQ
HVWpJDOHPHQWSUpVHQWpHGDQVOHVOLHX[VXLYDQWV
*DOHULH0RQWFDOP+XOO4XpEHF
'XDYULODXMXLQ
0XVpHUpJLRQDOGHOD&{WH1RUG6HSW,OHV4XpEHF
'XMDQYLHUDXPDUV
$FDGLD8QLYHUVLW\:ROIYLOOH1RXYHOOHeFRVVH
'XQRYHPEUHDXMDQYLHU
*DOHULH&ROOLQH0RQFWRQ1RXYHDX%UXQVZLFN
'XMXLOOHWDXVHSWHPEUH
0DLVRQ9LOOHUD\0RQWUpDO4XpEHF
'XMXLQDXVHSWHPEUH
086e(1$7,21$/'(6%($8;$576'848e%(&48e%(&¥£895(6
3RXUOªH[SRVLWLRQSHUPDQHQWH-HPHVRXYLHQV4XDQGOªDUWLPDJLQHOªKLVWRLUH
)$%5,48('(/$3$52,66('(6$,173$8/¥£895(
3UrWjORQJWHUPH
$OIUHG/DOLEHUWp
'ROODUGGHV2UPHDX[YHUV
3OkWUH
3RXUOªH[SRVLWLRQ/HQXHWODPRGHUQLWpDX&DQDGD
3UpVHQWpHGXRFWREUHDXMDQYLHU
$WWULEXpj3LHUUH*XLERUG
7RPEHDXGªDXWHO
%RLVVFXOSWpSHLQWHWGRUp
)$%5,48('(/$3$52,66('(6$,17)5$1d2,6'8/$&¥£895(
3UrWjORQJWHUPH
(UQVW1HXPDQQ
3RUWUDLWRIWKH$UWLVW1XGH
+XLOHVXUWRLOH
(UQVW1HXPDQQ
1XGH
3RLQWHVqFKH
3RXUOªH[SRVLWLRQ3HLQWUHVMXLIVGH0RQWUpDO7pPRLQVGHOHXUpSRTXH
(UQVW1HXPDQQ
)XQQRQGDWp
(QFUHFUD\RQJUDVVXUSDSLHU
$WWULEXpj-HDQ-DFTXLHUGLW/H%ORQG
5HWDEOHHWWDEHUQDFOHGXPDvWUHDXWHOGHOªpJOLVHGH6DLQW)UDQoRLVGX/DFYHUV
%RLVVFXOSWpSHLQWHWGRUp
32,17( &$//,º5(086e('ª$5&+e2/2*,((7'ª+,672,5('(
02175e$/02175e$/¥£895(
3RXUOªH[SRVLWLRQ6XUOHFKHPLQGHVOpJHQGHVDYHF-HDQ&ODXGH'XSRQW
3UpVHQWpHGXMDQYLHUDXDYULO
(ULF*ROGEHUJ
*DUGHQ3DUW\QRQGDWp
+XLOHVXUWRLOH
([SRVLWLRQpJDOHPHQWSUpVHQWpHGDQVOHVOLHX[VXLYDQWV
&URL[GHFLPHWLqUH
[[FP
0XVpH0F&RUG0RQWUpDO4XpEHF
'XRFWREUHDXPDL
086e()(5529,$,5(&$1$',(16$,17&2167$17¥£895(
3UrWjORQJWHUPH SRXUXQHSpULRGHGHGL[DQVVXLWHjODSKDVH,,GXSURMHW
GªDJUDQGLVVHPHQWGª([SRUDLOjOªRFFDVLRQGHOªLQVWDOODWLRQGHOªH[SRVLWLRQ
SHUPDQHQWHSUpVHQWpHGXPDLDXPDL
6DLQW/DXUHQW,QGXVWULH
3ODTXHGHORFRPRWLYH'RUFKHVWHUYHUV
&XLYUHHWERLV
(UQVW1HXPDQQ$XWRSRUWUDLWQXGpWDLO0XVpHGªDUWGH-ROLHWWH
6(59,&('(&2168/7$7,21
/H6HUYLFHGHVFROOHFWLRQVUpSRQGjGHQRPEUHXVHVGHPDQGHVGªLQIRUPDWLRQ
UHOLpHV j OD FROOHFWLRQ GX 0XVpH RX HQFRUH j GHV TXHVWLRQV GªRUGUH
PXVpRORJLTXH 'H SOXV LO UHoRLW pJDOHPHQW GHV FKHUFKHXUV LQWpUHVVpV j
pWXGLHU FHUWDLQHV ¤XYUHV RX DUWLVWHV GH OD FROOHFWLRQ 'HSXLV TXHOTXHV
DQQpHV OH 6HUYLFH GHV FROOHFWLRQV QRWH XQH DXJPHQWDWLRQ GHV GHPDQGHV
GªLQIRUPDWLRQHQSURYHQDQFHGHSOXVLHXUVSD\V3RXUOªDQQpHRQ
GpQRPEUHSUqVGHGHPDQGHVGªLQIRUPDWLRQ
6(59,&('(3+272*5$3+,(
(7'(5(352'8&7,21
6XU GHPDQGH HW VHORQ XQH WDULILFDWLRQ pWDEOLH XQ VHUYLFH GH GRFXPHQWV
QXPpULTXHVHVWRIIHUWDX[LQVWLWXWLRQVDX[pWXGLDQWVHWDX[FKHUFKHXUV3RXU
OªH[HUFLFHRQUHFHQVHXQHYLQJWDLQHGHUHTXrWHVH[WHUQHVUHOLpHV
j OD YHQWH GH PDWpULHO QXPpULTXH HW SOXV GH WUDQVDFWLRQV UHOLpHV j OD
JHVWLRQ GHV GURLWV GªDXWHXU HW GH UHSURGXFWLRQ GHV ¤XYUHV GH QRWUH
FROOHFWLRQ
(;326,7,216
)UpTXHQWDWLRQGHVH[SRVLWLRQV
([SRVLWLRQVWHPSRUDLUHV
([SRVLWLRQVSHUPDQHQWHV
([SRVLWLRQVHQFLUFXODWLRQ
([SRVLWLRQVKRUVOHVPXUV
([SRVLWLRQVHQOLJQH
9XHGHOªH[SRVLWLRQ<DP/DXeORJHGHOªpYDQHVFHQFHOªHVSDFHOHWHPSVHWOªLPDJHGXTXRWLGLHQ
3$57(1$5,$76
3RXU XQH DXWUH DQQpH OH 0$- D SRXUVXLYL VRQ SDUWHQDULDW DYHF OH &pJHS
UpJLRQDO GH /DQDXGLqUH j -ROLHWWH HQ RIIUDQW DX[ pWXGLDQWV XQH IRUPDWLRQ
D[pH VXU OHV SUDWLTXHV HW FRQFHSWV OLpV j OD FRQVHUYDWLRQ SUpYHQWLYH (Q
SOXV GH pWXGLDQWV RQW SX rWUH LQLWLpV j OªLQFRQWRXUQDEOH
VSKqUH GH OD PXVpRORJLH HQ SOXV GªDYRLU DFFqV j XQH YLVLWH SULYLOpJLpH GHV
UpVHUYHVGX0XVpH
'e3$57
6RXOLJQRQVOHGpSDUWHQGpFHPEUHGHPDGDPH/\QGD&RUFRUDQTXLD
GpFLGpDSUqVQHXIDQVGHOR\DX[VHUYLFHVSDVVpVDX0XVpHG
DUWGH-ROLHWWHj
WLWUH GªDUFKLYLVWH GHV FROOHFWLRQV GH TXLWWHU VHV IRQFWLRQV /H 0$- VRXKDLWH OXL
UHQGUHKRPPDJHHWODUHPHUFLHUGHVRQGpYRXHPHQWHWGHVRQWUDYDLOH[HPSODLUH
DXVHLQGHOªLQVWLWXWLRQ
)5e48(17$7,21'(6(;326,7,216
&LGHVVXV0XVpHGªDUWGH-ROLHWWH9XHGHOªH[SRVLWLRQ*LVHOH$PDQWHD%HDX[UrYHVGXUHVYpULWpV
&LFRQWUH0XVpHGªDUWGH-ROLHWWH9XHGHOªH[SRVLWLRQ7LWUHV9,>7LWOHV9,@
([SRVLWLRQVDX0$-
3URYHQDQFHGHODFOLHQWqOH
/RFDOHHWUpJLRQDOH
3URYLQFLDOH
+RUV4XpEHF
([SRVLWLRQVHQFLUFXODWLRQ
([SRVLWLRQVKRUVOHVPXUV
6LWH,QWHUQHW
727$/
(;326,7,217(0325$,5(
)5$1d2,6/$&$66(/(6'e9(56(0(176
/ªREMHFWLIGHFHWWHH[SRVLWLRQpWDLWGHIDLUHOHSRLQWVXUODFDUULqUH
GH )UDQoRLV /DFDVVH DUWLVWH RULJLQDLUH GH 5DZGRQ GDQV
/DQDXGLqUH (OOH UDVVHPEODLW XQH VpOHFWLRQ GH WDEOHDX[ SURGXLWV
HQWUHHWDILQGHPHWWUHHQOXPLqUHODWUDQVIRUPDWLRQGH
VDGpPDUFKH&HWWHH[SRVLWLRQYLVDLWDLQVLjIDLUHYRLUFRPPHQWOH
SHLQWUHVªHVWJUDGXHOOHPHQWpORLJQpGHODILJXUDWLRQFRPPHQWLOD
DEDQGRQQp OH UHFRXUV j OD FLWDWLRQ DILQ GH VH FRQFHQWUHU VXU OHV
DVSHFWV IRUPHOV GH OD SHLQWXUH HW VXU FHWWH IDFWXUH YLWUHXVH TXL
RSpUDLWDXSDUDYDQWFRPPHYRLOHRXEURXLOODUGGDQVVHV¤XYUHV
/HWUDYDLOGH)UDQoRLV/DFDVVHHVVHQWLHOOHPHQWDEVWUDLWGHSXLVOD
ILQ GHV DQQpHV TXDWUHYLQJWGL[ HVW FDUDFWpULVp SDU OªpODERUDWLRQ
GHWDEOHDX[SRXUOHVTXHOVOªLGpHGHGpYHUVHUODFRXOHXUFRPSRUWH
SOXVLHXUV GLPHQVLRQV /H JHVWH GH SHLQGUH TXL FRQVLVWH j
UpSDQGUHODSHLQWXUHVXUODWRLOHDXPR\HQGªXVWHQVLOHVGHPHVXUH
WDVVHV FXLOOqUHV j PHVXUHU QpFHVVLWH TXH OH SURFHVVXV GH
UpDOLVDWLRQWURXYHXQMXVWHpTXLOLEUHHQWUHOHIDLUHOHVDYRLUIDLUHHW
OH ODLVVHUIDLUH 'DQV OªDWHOLHU FKDFXQH GHV VpULHV HVW RUFKHVWUpH
DXWRXU GªXQ SURFpGp IRUPHO HW VRXPLVH j GHV SURWRFROHV
GªH[SpULPHQWDWLRQ HW GªREVHUYDWLRQ ULJRXUHX[ VXJJpUDQW DLQVL GH
QRPEUHXVHV DQDORJLHV HQWUH OD ILJXUH GH OªDUWLVWH HW FHOOH GX
FKHUFKHXU
0DULH(YH %HDXSUp D DVVXUp OH FRPPLVVDULDW GH FHWWH H[SRVLWLRQ
HWHQFROODERUDWLRQDYHFOªKLVWRULHQGHOªDUW5RDOG1DVJDDUGVLJQH
OªXQ GHV GHX[ HVVDLV GX FDWDORJXH TXL VHUD UpDOLVp VXLWH j FHWWH
H[SRVLWLRQ3URGXLWHHWPLVHHQFLUFXODWLRQSDUOH0$-OªH[SRVLWLRQ
YR\DJHUDSDUODVXLWHjWUDYHUVOH&DQDGD
)UDQoRLV/DFDVVHHVWWLWXODLUHGªXQHPDvWULVHHQKLVWRLUHGHO
DUWGH
O
8QLYHUVLWpGX4XpEHFj0RQWUpDORLOHQVHLJQHOHVDUWVYLVXHOV
HW PpGLDWLTXHV GHSXLV &RPSWDQW SOXV G
XQH GL]DLQH
G
H[SRVLWLRQV LQGLYLGXHOOHV j VRQ DFWLI LO HVW UHFRQQX SDU GH
QRPEUHX[FROOHFWLRQQHXUVWDQWGDQVOHVHFWHXUSXEOLFTXHGDQVOH
VHFWHXU SULYp )UDQoRLV /DFDVVH HVW UHSUpVHQWp SDU OD *DOHULH
5HQp%ORXLQ
)5$1d2,6/$&$66(
/(6'e9(56(0(176>7+(2873285,1*@
9XHGHOªH[SRVLWLRQ/HVGpYHUVHPHQWV>7KH2XWSRXULQJ@3KRWR5LFKDUG0D[7UHPEOD\
)UDQoRLV/DFDVVHDYHFOªDLPDEOHSHUPLVVLRQGHOD*DOHULH5HQp%ORXLQ
'XMDQYLHUDXPDL
3URGXFWLRQ0XVpHGªDUWGH-ROLHWWH
$UWLVWH)UDQoRLV/DFDVVH
&RPPLVVDLUHLQYLWpH0DULH(YH%HDXSUp
3XEOLFDWLRQFDWDORJXHHQFRXUVGHSURGXFWLRQ
&LUFXODWLRQSDQFDQDGLHQQH0RXQW6DLQW9LQFHQW8QLYHUVLW\$UW*DOOHU\
+DOLID[1RXYHOOHeFRVVHGXMDQYLHUDXPDUV$JQHV
(WKHULQJWRQ$UW&HQWUH.LQJVWRQ2QWDULRGXDYULODXDRW
,OOLQJZRUWK.HUU*DOOHU\&DOJDU\$OEHUWDjOªKLYHU
(;326,7,217(0325$,5(
&/$8',(*$*1217(036'(*/$&(
81(5e75263(&7,9(92/(7,,
7HPSVGHJODFHIXWOHVHFRQGYROHWGªXQHH[SRVLWLRQVRXOLJQDQWOHV
DQV GH FDUULqUH HQ DUWV YLVXHOV GH OªDUWLVWH &ODXGLH *DJQRQ
*UkFH DX[ ¤XYUHV SKDUHV VpOHFWLRQQpHV HW DX[ GRFXPHQWV
SKRWRJUDSKLTXHV FKRLVLV SDU OD FRPPLVVDLUH 0pODQLH %RXFKHU
FHWWH H[SRVLWLRQ MXGLFLHXVHPHQW RUFKHVWUpH PHWWDLW GH OªDYDQW
WRXWH OD SHUWLQHQFH GX WUDYDLO GH &ODXGLH *DJQRQ HW GH VD
GpPDUFKHDUWLVWLTXHLVVXHGHOªXQLYHUVWKpkWUDO
/ªH[SRVLWLRQ TXL FRPSUHQDLW pJDOHPHQW XQH ¤XYUH LQpGLWH ¥
7HPSV GH JODFH ¥ IXW UpSDUWLH VHORQ TXDWUH HQVHPEOHV j WUDYHUV
OHVTXHOVODFRPPLVVDLUHpSRXVDLWODSUDWLTXHPrPHGHOªDUWLVWHHQ
EURXLOODQW OD FKURQRORJLH SULYLOpJLDQW GDYDQWDJH OHV HQWUH
FURLVHPHQWV WKpPDWLTXHV ,QVSLUp GH OD FXOWXUH PDWpULHOOH SRSXODLUH
OªXQLYHUVGH&ODXGLH*DJQRQHVWXQPRQGHHPSUHLQWGHOXGLVPHHW
GH PHUYHLOOHX[ 'DQV OD UpDOLVDWLRQ GH VHV LQVWDOODWLRQV OªDUWLVWH
GpWRXUQH GH OHXU IRQFWLRQ SUHPLqUH OHV REMHWV XVXHOV GH QRV
FRQWHPSRUDLQV OHXU SUpIpUDQW XQ PRQGH TXL pYROXH j F{Wp GH OD
UpDOLWp
0pODQLH %RXFKHU DVVXUDLW OH FRPPLVVDULDW GH OªH[SRVLWLRQ
FRSURGXLWH SDU OH 0XVpH GªDUW GH -ROLHWWH HW SDU ([SUHVVLRQ
&HQWUH GªH[SRVLWLRQ GH 6DLQW+\DFLQWKH &HWWH H[SRVLWLRQ D IDLW
OªREMHWGªXQFDWDORJXHPRQRJUDSKLTXHDERQGDPPHQWLOOXVWUpGDQV
OHTXHO0pODQLH%RXFKHU-XOLH%pOLVOHHW0DULHWWH%RXLOOHWDQDO\VHQW
GLYHUVHV IDFHWWHV GX WUDYDLO HQ DUWV YLVXHOV GH &ODXGLH *DJQRQ
GHSXLV
&ODXGLH *DJQRQ HVW QpH j 0RQWUpDO HQ -XVTX
HQ VRQ
LPSOLFDWLRQ DX FHQWUH G
DUWLVWHV /
2(LO GH 3RLVVRQ VHUD GpWHUPLQDQWH
GDQV O
pPHUJHQFH HW OH GpYHORSSHPHQW GH VRQ ODQJDJH SODVWLTXH
SHUVRQQHO &ªHVW LPSUpJQp GH O
HVSULW GX MHX HW GX EXUOHVTXH
TX
HOOHSUpVHQWHHQVDSUHPLqUHH[SRVLWLRQSURIHVVLRQQHOOH
&/$8',(*$*121
7(036'(*/$&(81(5e75263(&7,9(92/(7,,
>7,0(2),&($5(75263(&7,9(3$57,,@
&ODXGLH*DJQRQ&DELQHWVGHFXULRVLWpVGpWDLO
3KRWR5LFKDUG0D[7UHPEOD\&ODXGLH*DJQRQ
'XHUIpYULHUDXDYULO
&RSURGXFWLRQ0XVpHGªDUWGH-ROLHWWHHW(;35(66,21
&HQWUHGªH[SRVLWLRQGH6DLQW+\DFLQWKH
$UWLVWH&ODXGLH*DJQRQ
&RPPLVVDLUHLQYLWpH0pODQLH%RXFKHU
3XEOLFDWLRQ0pODQLH%RXFKHU-XOLH%pOLVOH0DULHWWH%RXLOOHW&ODXGLH*DJQRQ
FDWDORJXHSURGXLWHQFROODERUDWLRQDYHF(;35(66,21&HQWUHGªH[SRVLWLRQGH
6DLQW+\DFLQWKH/ª£LOGH3RLVVRQHWOH0XVpHGªDUWGH-ROLHWWH
-$9,(57e//(=/(775(685/(6$9(8*/(6
/ª86$*('(&(8;48,92,(17
(;326,7,217(0325$,5(
/RUV GH VD SURJUDPPDWLRQ GH OªKLYHU OH 0$- D SUpVHQWp
Oª¤XYUH/HWWUHVXUOHVDYHXJOHVjO
XVDJHGHFHX[TXLYRLHQW>/HWWHU
RQWKH%OLQG)RUWKH8VHRI7KRVH:KR6HH@UpDOLVpHSDUOªDUWLVWH
GH UHQRPPpH LQWHUQDWLRQDOH -DYLHU 7pOOH] ,O VªDJLVVDLW GªXQH
¤XYUH ILOPLTXH PRQWUDQW OªH[SpULHQFH VHQVRULHOOH TXªRQW YpFXH
XQHIHPPHHWFLQTKRPPHVQRQYR\DQWVDYHFXQpOpSKDQW WRXU
GH U{OH FKDFXQ GHV SDUWLFLSDQWV FRPPXQLTXH VXU OH YLI
OªLPSUHVVLRQ TXH OXL D IDLW OH FRQWDFW GH VD PDLQ DYHF OªDQLPDO
&KDTXH VHJPHQW HVW HQWUHFRXSp GªXQ JURV SODQ GH OD SHDX GH
OªpOpSKDQW DFFRPSDJQp GH OD YRL[ KRUVFKDPS GH OªLQGLYLGX TXL
UDFRQWHOªRULJLQHGHVDFpFLWpHWVDPDQLqUHGHODYLYUH/ªXQjOD
VXLWH GH OªDXWUH FKDFXQ SDUWDJH DYHF QRXV YR\DQWV OHV
VHQVDWLRQV WDFWLOHV DXGLWLYHV ROIDFWLYHV HW pPRWLRQQHOOHV GH VD
YLVLRQ
ODIURQWLqUHGXGRFXPHQWDLUHHWGXFLQpPDYpULWpFHILOPWRXUQp
GDQV XQH SLVFLQH SXEOLTXH GpVDIIHFWpH GH %URRNO\Q IDLW SDUWLH
GªXQHVpULHGª¤XYUHVTXH7pOOH]DUpDOLVpHVHQFROODERUDWLRQDYHF
GHVJHQVFRQVLGpUpVSDUODVRFLpWpFRPPHpWDQWPDUJLQDX[/HV
SUpRFFXSDWLRQV GH OªDUWLVWH j OªpJDUG GHV QRQYR\DQWV HW OHV
TXHVWLRQV UHODWLYHV j OD SHUFHSWLRQ YLVXHOOH WURXYHQW QRWDPPHQW
OHXU DQFUDJH GDQV OD OHFWXUH GH O
HVVDL LQWLWXOp /HWWUH VXU OHV
DYHXJOHVjO
XVDJHGHFHX[TXLYRLHQWUpGLJpSDU'HQLV'LGHURWHQ
HW DXTXHO OH WLWUH GX ILOP GH 7pOOH] UHQYRLH &HWWH ¤XYUH
HPSUHLQWH GªXQH UHPDUTXDEOH SRpVLH QªHVW SDV VDQV UDSSHOHU OD
SDUDEROH ERXGGKLVWH LQGLHQQH GH OªpOpSKDQW HW GHV DYHXJOHV
UpIpUHQFH V\PEROLTXH TXL HQULFKLW OD UpIOH[LRQ pWKLTXH HW
OªH[SpULHQFHHVWKpWLTXHTXHOHILOPQRXVSURFXUH
-DYLHU 7pOOH] HVW Qp DX 9pQp]XHOD HQ 5HFRQQXHV VXU OD
VFqQHLQWHUQDWLRQDOHOHV¤XYUHVGH-DYLHU7pOOH]RQWIDLWOªREMHWGH
QRPEUHXVHV H[SRVLWLRQV HW RQW pWp SUpVHQWpHV ORUV GHV SOXV
LPSRUWDQWHV ELHQQDOHV GªDUW FRQWHPSRUDLQ QRWDPPHQW j
OªRFFDVLRQGHODH%LHQQDOHGªDUWFRQWHPSRUDLQGH6\GQH\GHOD
%LHQQDOH GX :KLWQH\ 0XVHXP RI $PHULFDQ $UWV GH 1HZ
<RUN HW GH OD 1XLW %ODQFKH j 3DULV HQ -DYLHU 7pOOH] HVW
UHSUpVHQWpSDUOD*DOHULH3HWHU.LOFKPDQQGH=XULFK
/(77(5217+(%/,1')257+(86(2)7+26(:+26((
>/(775(685/(6$9(8*/(6 /ª86$*('(&(8;48,92,(17@
-$9,(57e//(=
-DYLHU7pOOH]/HWWHURQWKH%OLQG)RUWKH8VHRI7KRVH:KR6HH
>/HWWUHVXUOHVDYHXJOHVjOªXVDJHGHFHX[TXLYRLHQW@,PDJHWLUpHGHODYLGpR
$YHFOªDLPDEOHSHUPLVVLRQGHOD*DOHULH3HWHU.LOFKPDQQ
'XHUIpYULHUDXDYULO
$UWLVWH-DYLHU7pOOH]
&RPPLVVDLUH*DsWDQH9HUQD
(;326,7,217(0325$,5(
$'5,$11259,'326(=9263$895(6&8/6/ OªRFFDVLRQ GH VD SURJUDPPDWLRQ GªDXWRPQH OH 0$- D SUpVHQWp
3RVH] YRV SDXYUHV FXOV Oj OD SOXV UpFHQWH ¤XYUH GH O
DUWLVWH G
RULJLQH
EULWDQQLTXH $GULDQ 1RUYLG (QFKkVVDQW OHV UXSWXUHV HW EULVDQW OHV
FRQYHQWLRQVFHWWH¤XYUHSORQJHDLWOHYLVLWHXUGDQVXQXQLYHUVJUDSKLTXH
URFDPEROHVTXHHPSUHLQWGHOªHVSULWURFN VXGLVWHGHVDQQpHVPDLV
GDQV XQ GpFRU LQWpULHXU GH VW\OH JpRUJLHQ ¥ SHQGDQW DQJODLV GX
QpRFODVVLFLVPHHQYRJXHDX ;9,,,HHWDX ;,;HVLqFOHV/DVFqQHVHVLWXH
DX OHQGHPDLQ GªXQH VRLUpH ELHQ DUURVpH R OªRQ VXUSUHQG OHV FRQYLYHV
HQGRUPLV j WDEOH 0DLV YRLOj TXH FHWWH VFqQH EDVFXOH 0HQpH SDU OH
PRXYHPHQWGHOªHVFDOLHUODQDSSHHVWHPSRUWpHGDQVXQPRXYHPHQWGH
JOLVVHPHQWHQWUDvQDQWDYHFHOOHFRXYHUWVHWQRXUULWXUH
&HWWH H[SRVLWLRQ GRQQDLW OH FRXS GªHQYRL j XQH QRXYHOOH VpULH
GªH[SRVLWLRQVLQWLWXOpH0XUjPXULQVWDXUpHSDUOH0XVpHGªDUWGH-ROLHWWH
8QH IRLV OªDQ OH 0$- LQYLWHUD GpVRUPDLV XQ DUWLVWH j LQYHVWLU OªLPSRVDQW
PXUGHOªHVFDOLHUTXLORQJHOHKDOOGHVRQHQWUpH3URSRVpHHQGHKRUVGH
ODSURJUDPPDWLRQUpJXOLqUH0XUjPXUDSRXUREMHFWLIGHIDLUHGpFRXYULU
GH QRXYHOOHV FUpDWLRQV GªDUWLVWHV HQ DUW FRQWHPSRUDLQ HW FH GDQV FHW
HVSDFHLQpGLWTXLVHSUpVHQWHWHOOHXQHSDJHEODQFKHjUHPSOLU
$GULDQ 1RUYLG HVW WLWXODLUH GªXQ EDFFDODXUpDW HQ PXVLTXH GH PrPH TXH
G
XQHPDvWULVHHQDUWVYLVXHOVGHO
8QLYHUVLWp<RUNj7RURQWR6HV¤XYUHV
RQWIDLWO
REMHWGHSOXVLHXUVH[SRVLWLRQVLQGLYLGXHOOHVHWFROOHFWLYHVGDQVGH
QRPEUHXVHV YLOOHV FDQDGLHQQHV QRWDPPHQW j 0RQWUpDO DX 0XVpH GªDUW
FRQWHPSRUDLQ ORUV GH OD SUHPLqUH pGLWLRQ GH OD 7ULHQQDOH TXpEpFRLVH ¥
5LHQ QH VH SHUG ULHQ QH VH FUpH WRXW VH WUDQVIRUPH $GULDQ 1RUYLG HVW
UHSUpVHQWpSDUOD*DOHULH-R\FH<DKRXGDGH0RQWUpDO
$'5,$11259,'
6,7<2856255<$66(6'2:1
>326(=9263$895(6&8/6/ @
$GULDQ1RUYLG6LW<RXU6RUU\$VVHV'RZQ>3RVH]YRVSDXYUHVFXOVOj@GpWDLO
VHSWHPEUHDXPDL
$UWLVWH$GULDQ1RUYLG
(;326,7,217(0325$,5(
*$%256=,/$6,/ªe/248(1&('84827,',(1
O
RFFDVLRQ GX H DQQLYHUVDLUH GH *DERU 6]LODVL OH 0$- HQ
FROODERUDWLRQ DYHF OH 0XVpH FDQDGLHQ GH OD SKRWRJUDSKLH
FRQWHPSRUDLQHDSUpVHQWp/
pORTXHQFHGXTXRWLGLHQXQHLPSRUWDQWH
UpWURVSHFWLYH GH Oª¤XYUH GH FHW DUWLVWH TXpEpFRLV G
RULJLQH
KRQJURLVH 6WUXFWXUpH DXWRXU GH WURLV WKqPHV ¥ OD +RQJULH OH
4XpEHF UXUDO HW 0RQWUpDO ¥ OªH[SRVLWLRQ UHJURXSDLW SKRWR
JUDSKLHVWLUpHVGHGLYHUVHVFROOHFWLRQVSULYpHVHWSXEOLTXHV&OLFKpV
HPEOpPDWLTXHV GX WUDYDLO GH OªDUWLVWH HW SKRWRV LQpGLWHV Vª\
F{WR\DLHQWSRXUIRUPHUXQHQVHPEOHGHSD\VDJHVXUEDLQVGHYXHV
DUFKLWHFWXUDOHV HW GH SRUWUDLWV GªDPELDQFH DWWHVWDQW OD IRL
LQGpIHFWLEOHGHOHXUDXWHXUHQODYDOHXUKXPDQLVWHHWGRFXPHQWDLUH
GHODSKRWRJUDSKLH
$YHF VHV UHPDUTXDEOHV LPDJHV GX 4XpEHF HW GH Oª(XURSH *DERU
6]LODVLDSURGXLWDXFRXUVGHVFLQTXDQWHGHUQLqUHVDQQpHVOªXQGHV
FRUSXVSKRWRJUDSKLTXHVOHVSOXVVLJQLILFDWLIVDX&DQDGD*UkFHjVD
YLVLRQHXURSpHQQHLPSUpJQpHGHVVDYRLUIDLUHGHOªpFROHSLFWRULDOLVWH
GH%XGDSHVWLODVXIDLUHUHVVRUWLUODVSpFLILFLWpGHVFRPPXQDXWpV
TXªLOSKRWRJUDSKLDLWHWFUpHUGHVGRFXPHQWVVHQVLEOHVTXLWpPRLJQHQW
GX FDUDFWqUH VLQJXOLHU GHV VRFLpWpV KRQJURLVH HW TXpEpFRLVH GH OD
VHFRQGHPRLWLpGX;;HVLqFOH
*DERU6]LODVLDLQIOXHQFpSOXVLHXUVJpQpUDWLRQVGHSKRWRJUDSKHVHW
FHQRQVHXOHPHQWSDUVRQ¤XYUHTXLDIDLWOªREMHWGHQRPEUHXVHV
H[SRVLWLRQVDX&DQDGDHWjOªpWUDQJHUPDLVDXVVLSDUVRQWUDYDLOGH
SpGDJRJXH QRWDPPHQW DX VHLQ GX 'pSDUWHPHQW GH SKRWRJUDSKLH
GH O
8QLYHUVLWp &RQFRUGLD $XMRXUG
KXL j OD UHWUDLWH GH O
HQVHLJQH
PHQW*DERU6]LODVLYLWHWWUDYDLOOHWRXMRXUVj0RQWUpDOHQWDQWTXH
SKRWRJUDSKH
*$%256=,/$6,
/ªe/248(1&('84827,',(1
>7+((/248(1&(2)7+((9(5<'$<@
*DERU6]LODVL5HSUpVHQWDQWGHVYHQWHVGH)RUG0HUFXU\6DORQGHOªDXWRPRELOH
3ODFH%RQDYHQWXUH0RQWUpDO-DQYLHUWLUpHGDQVOHVDQQpHV
eSUHXYHjODJpODWLQHDUJHQWLTXHÓFP
&ROOHFWLRQGHOªDUWLVWH*DERU6]LODVL
'XPDLDXDRW
&RSURGXFWLRQ0XVpHGªDUWGH-ROLHWWHHWOH0XVpHFDQDGLHQGH
ODSKRWRJUDSKLHFRQWHPSRUDLQHHWPLVHHQFLUFXODWLRQSDU
OH0XVpHGHVEHDX[DUWVGX&DQDGD
$UWLVWH*DERU6]LODVL
&RPPLVVDLUHLQYLWp'DYLV+DUULV
3XEOLFDWLRQV'DYLV+DUULV*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQHW*DERU
6LODV]L7KH(ORTXHQFHRIWKH(YHU\GD\GHX[FDWDORJXHVSURGXLWVHQ
FROODERUDWLRQDYHFOH0XVpHQDWLRQDOGHVEHDX[DUWVGX&DQDGD
&LUFXODWLRQSDQFDQDGLHQQH
0$5,(-26e(/$)5$0%2,6(
(16(0%/(65e7,&8/$,5(6
&HWWH H[SRVLWLRQ FRQVDFUpH j O
DUWLVWH TXpEpFRLVH 0DULH-RVpH
/DIUDPERLVH pWDLW VWUXFWXUpH DXWRXU G
XQH VpOHFWLRQ G
¤XYUHV
SKDUHVUHSUpVHQWDWLYHVGXFKHPLQHPHQWFUpDWLIHWFRQFHSWXHOGHOD
SUDWLTXHGHOªDUWLVWHGHSXLVOHGpEXWGHVDQQpHVHWRUJDQLVpH
HQ GHX[ YROHWV /H SUHPLHU YROHW SUpVHQWDLW TXDWUH LQVWDOODWLRQV
WDQGLVTXHOHVHFRQGVªDWWDUGDLWjODSUDWLTXHJUDSKLTXHGHOªDUWLVWH
DYHFGHVVpULHVGª¤XYUHVVXUSDSLHU
/HVLQVWDOODWLRQVGH0DULH-RVpH/DIUDPERLVHVHFDUDFWpULVHQWSDU
OD IDoRQ WRXWH VLQJXOLqUH TXªHOOHV RQW GH SUHQGUH SRVVHVVLRQ GHV
HVSDFHV TXªHOOHV LQYHVWLVVHQW &HWWH SDUWLFXODULWp VH WUDGXLW SDU OH
FKRL[GHVPDWpULDX[TXªLOVVRLHQWWXEHVILOVSDSLHU.UDIWRXWLVVXHW
SDU OD PDQLqUH GRQW FHV PDWpULDX[ VRQW PDQLSXOpV /ªDUWLVWHWLVVH
WUHVVH VXSHUSRVH DFFXPXOH ERXFOH HQURXOH HW WHQG OD PDWLqUH
SRXU UpDOLVHU GHV FRQVWUXFWLRQV LQJpQLHXVHV WDQW{W TXDVL
LPPDWpULHOOHV WDQW{W HQYDKLVVDQWHV TXL WUDQVIRUPHQW OLWWpUDOHPHQW
QRWUH SHUFHSWLRQ GHV DOHQWRXUV HW TXL GX PrPH FRXS QRXV IRQW
SUHQGUH FRQVFLHQFH GHV pOpPHQWV DUFKLWHFWXUDX[ TXL QRXV
pFKDSSHQWDXTXRWLGLHQ
&RPPH OH SURSRVDLW O
LQVWDOODWLRQ UpDOLVpH j SDUWLU GH ILOV
O
H[SpULHQFH FKH] 0DULH-RVpH /DIUDPERLVH VH YRXODLW j OD IRLV
HVWKpWLTXH HW SDUWLFLSDWLYH /
DUWLVWH D FUpp GHV SDUFRXUV LQpGLWV HW
LPSUpYLVLEOHVLQYLWDQWOHYLVLWHXUjSpQpWUHUGDQVOHVVWUXFWXUHVRX
DXFRQWUDLUHjGpYLHUFHUWDLQVSDVVDJHVKDELWXHOOHPHQWREOLJpV(Q
SOXV GH SRXVVHU VHV UHFKHUFKHV VXU OªDSSURSULDWLRQ VSDWLDOH HW OHV
V\VWqPHV UpWLFXODLUHV DX VHLQ GH VHV LQVWDOODWLRQV /DIUDPERLVH D
WRXMRXUV SUDWLTXp DYHF DVVLGXLWp OH GHVVLQ %LHQ SOXV TXH GHV
HVTXLVVHVRXGHVpWXGHVSUpSDUDWRLUHVVHV¤XYUHVJUDSKLTXHVVH
SUpVHQWHQW FRPPH XQ FRPSOpPHQW DX[ LQVWDOODWLRQV XQH PDQLqUH
YLUWXHOOHGHUHSRXVVHUOHVOLPLWHVWDQJLEOHVHWFRQFUqWHVGHOªHVSDFH
0DULH-RVpH /DIUDPERLVH HVW RULJLQDLUH GH 4XpEHF (OOH YLW HW
WUDYDLOOH j 0RQWUpDO 7LWXODLUH GªXQH PDvWULVH HQ DUW GH Oª8QLYHUVLWp
&RQFRUGLD j 0RQWUpDO HOOH H[SRVH SURIHVVLRQQHOOHPHQW GHSXLV
(Q SOXV G
DYRLU pWp LQYLWpH j SDUWLFLSHU j GH QRPEUHXVHV
H[SRVLWLRQV DX &DQDGD HOOH D SUpVHQWp VRQ WUDYDLO j SOXVLHXUV
UHSULVHV HQ )UDQFH HQ 6XLVVH HQ $OOHPDJQH HW HQ $XWULFKH ORUV
GªH[SRVLWLRQVFROOHFWLYHVGHUpVLGHQFHVRXGHV\PSRVLXPV
(;326,7,217(0325$,5(
0$5,(-26e(/$)5$0%2,6(
(16(0%/(65e7,&8/$,5(6
>1(7:25.,167$//$7,216@
0DULH-RVpH/DIUDPERLVH&LUFXLWVWXEXODLUHV
3KRWR3DXO/LWKHUODQG
'XPDLDXDRW
$UWLVWH0DULH-RVpH/DIUDPERLVH
&RPPLVVDLUH(YH/\QH%HDXGU\
3XEOLFDWLRQ&DWDORJXHjSDUDvWUH
&LUFXODWLRQ2WWDZD$UW*DOOHU\2QWDULRGXDRWDXRFWREUH
/(021'( /ª(19(56
(;326,7,217(0325$,5(
/ªH[SRVLWLRQ/HPRQGH jOªHQYHUVUHPHWWDLWHQTXHVWLRQOHVFRGHV
pWDEOLV GH OD FXOWXUH YLVXHOOH HQ UHQYHUVDQW OHV V\PEROHV
KLVWRULTXHV DX[TXHOV QRXV VRPPHV DFFRXWXPpV 3DUIRLV
LUUpYpUHQFLHXVH FHWWH H[SRVLWLRQ ERXVFXODLW OHV U{OHV HW OHV
V\PEROHV WUDGLWLRQQHOV SRXU VH SUpVHQWHU FRPPH XQH VRUWH GH
VDWLUHVRFLDOHIpURFHPHQWOXGLTXHQRXVIRUoDQWjSRUWHUXQUHJDUG
FULWLTXH VXU QRWUH IDoRQ WUDGLWLRQQHOOH GH FRQVWUXLUH HW GH WUDQV
PHWWUHGªXQHJpQpUDWLRQjOªDXWUHQRVUpIpUHQFHVV\PEROLTXHVHW
FXOWXUHOOHV
/ªH[SRVLWLRQ UpXQLVVDLW GHV ¤XYUHV GªDUW FRQWHPSRUDLQ DLQVL TXH
GHVREMHWVYLVXHOVLVVXVGHODFXOWXUHSRSXODLUHRXGHODWUDGLWLRQ
GH OªKLVWRLUH GH OªDUW 3DUPL OHV SLqFHV SUpVHQWpHV ILJXUDLHQW
QRWDPPHQWOHV¤XYUHVGªXQHTXLQ]DLQHGªDUWLVWHVGHUHQRPGRQW
OD SULVH GH SRVLWLRQ VRFLDOH RX SROLWLTXH IDLW SDUWLH LQWpJUDQWH GH
OHXU GpPDUFKH VRLW $KPRR $QJHFRQHE /RUL %ORQGHDX 7&
&DQQRQ 5HQpH &R[ -DFN 'DZV 5RVDOLH )DYHOO &KHU\O
/ª+LURQGHOOH *HQHUDO ,GHD 7HUUDQFH +RXOH HW -DUXVKD %URZQ
*R\FH.DNHJDPLF-LP/RJDQ6KHOOH\1LUR5RJHU6KLPRPXUDHW
<LQND6KRQLEDUH
/D SUpVHQWDWLRQ GH OªH[SRVLWLRQ /H PRQGH j OªHQYHUV VªDFFRP
SDJQDLW GªXQ LPSRUWDQW FDWDORJXH VLJQp SDU OH FRPPLVVDLUH GH
OªH[SRVLWLRQ OªKLVWRULHQ HW FULWLTXH GªDUW 5LFKDUG :LOOLDP +LOO
/ªRXYUDJH LOOXVWUH MXGLFLHXVHPHQW OªLGpH GªLQYHUVLRQ V\PEROLTXH
PLVHGHOªDYDQWGDQVOªH[SRVLWLRQ(QWDQWTXHVWUDWpJLHDUWLVWLTXH
OªLQYHUVLRQQRXVSHUPHWGªpFODLUHUHWGHFRQWHVWHUOHVFRQYHQWLRQV
YLVXHOOHV OLpHV j OD KLpUDUFKLH VRFLDOH HW DX[ UHODWLRQV GH SRXYRLU
H[SOLFLWH /H PRQGH j OªHQYHUV pWDLW HQ TXHOTXH VRUWH XQ XQLYHUV
GDQV OHTXHO OªRUGUH V\PEROLTXH pWDLW LQYHUVp XQ PRQGH R OHV
ODSLQVFKDVVDLHQWOªKXPDLQR6XSHUPDQpWDLWXQKpURVVRYLpWLTXH
HW R OHV DULVWRFUDWHV EULWDQQLTXHV SHUGDLHQW OD WrWH ORUVTXªLOV
VªKDELOODLHQWGHYrWHPHQWVDIULFDLQV
2UJDQLVpHHWPLVHHQFLUFXODWLRQSDUOD:DOWHU3KLOOLSV*DOOHU\GX
%DQII &HQWUH OªH[SRVLWLRQ HW OD SXEOLFDWLRQ RQW pWp SURGXLWHV HQ
FROODERUDWLRQDYHFOª$JQHV(WKHULQJWRQ$UW&HQWUHOª$UW*DOOHU\RI
*UHDWHU9LFWRULDHWOH0XVpHGªDUWGH-ROLHWWH
:2/5'836,'('2:1
>/(021'( /ª(19(56@
<LQND6KRQLEDUH0HW0PH$QGUHZVVDQVOHXUWrWH
'XVHSWHPEUHDXMDQYLHU
3URGXFWLRQ:DOWHU3KLOOLSV*DOOHU\Oª$JQHV(WKHULQJWRQ$UW&HQWUH
Oª$UW*DOOHU\RI*UHDWHU9LFWRULDHWOH0XVpHGªDUWGH-ROLHWWH
&RPPLVVDLUHLQYLWp5LFKDUG:LOOLDP+LOO
3XEOLFDWLRQ5LFKDUG:LOOLDP+LOO:RUOG8SVLGH'RZQ
/HPRQGHjOªHQYHUVFDWDORJXHSURGXLWHQFROODERUDWLRQDYHFOD:DOWHU3KLOOLSV
*DOOHU\Oª$JQHV(WKHULQJWRQ$UW&HQWUHOª$UW*DOOHU\RI*UHDWHU9LFWRULD
HWOH0XVpHGªDUWGH-ROLHWWH
(;326,7,217(0325$,5(
81($875(9,//(
$127+(5&,7<>81($875(9,//(@
8QHDXWUHYLOOHSURSRVDLWXQGLDORJXHDUWLVWLTXHHQWUHOH&DQDGDHWOH
-DSRQ SDU OªLQWHUPpGLDLUH GªXQH H[SRVLWLRQ LQWHUGLVFLSOLQDLUH DOOLDQW
OHVDUWVYLVXHOVOªDUFKLWHFWXUHHWODOLWWpUDWXUH&HSURMHWLQpGLWIDLVDLW
LQWHUDJLU GDQV XQ PrPH OLHX OHV ¤XYUHV GHV DUWLVWHV 3DXO GH
*X]PDQ 9DQFRXYHU HW <RVKLKLUR 6XGD -DSRQ DLQVL TXH GH
OªDXWHXU HW FULWLTXH GªDUW 0DVDVKL 2JXUD -DSRQ TXL VªLQWpUHVVHQW
WRXVWURLVDXWKqPHGHVHVSDFHVXUEDLQVHQPXWDWLRQ
/ªH[SRVLWLRQ VH SUpVHQWDLW VRXV OD IRUPH GªXQH LQVWDOODWLRQ
DUFKLWHFWXUDOH ODE\ULQWKLTXH GDQV ODTXHOOH pWDLHQW LQVpUpHV GHV
VFXOSWXUHV GH SODQWHV LQGLJqQHV UHSUpVHQWDWLYHV GH OD ELRGLYHUVLWp
FDQDGLHQQH /HV YLVLWHXUV pWDLHQW LQYLWpV j FLUFXOHU j OªLQWpULHXU GH
FHWWH VWUXFWXUH SRXU \ GpFRXYULU GHV HVSDFHV UHIOpWDQW OªpYROXWLRQ
UDSLGH GHV SD\VDJHV XUEDLQV ODTXHOOH LQIOXH VXU OD FRQVWDQWH
PXWDWLRQ GHV PRGHV GH YLH GDQV OHV YLOOHV /ªH[SRVLWLRQ
VªDFFRPSDJQDLWGªXQ FRIIUHWjWLUDJHOLPLWpSURGXLWHQFROODERUDWLRQ
DYHF OH 0$- GDQV OHTXHO pWDLHQW LQVpUpV XQ '9' GHV FDUWHV
SRVWDOHV DLQVL TXªXQH SXEOLFDWLRQ UHJURXSDQW HQWUH DXWUHV WURLV
HVVDLV VLJQpV UHVSHFWLYHPHQW SDU 0DVDVKL 2JXUD -RKQ $WNLQ HW
*DU\0F)DUODQH
/ªH[SRVLWLRQ LWLQpUDQWH 8QH DXWUH YLOOH D pWp RUJDQLVpH HW PLVH HQ
FLUFXODWLRQ SDU &HQWUH $ 9DQFRXYHU ,QWHUQDWLRQDO &HQWUH IRU
&RQWHPSRUDU\ $VLDQ $UW HW UpDOLVpH SDU OD FRPPLVVDLUH 0DNLNR
+DUDFRQVHUYDWULFHGX&HQWUH
<RVKLKLUR6XGD3DYRW
'XVHSWHPEUHDXMDQYLHU
3URGXFWLRQHWPLVHHQFLUFXODWLRQ&HQWUH$9DQFRXYHU,QWHUQDWLRQDO
&HQWUHIRU&RQWHPSRUDU\$VLDQ$UW
$UWLVWH3DXOGH*X]PDQ<RVKLKLUR6XGDHW0DVDVKL2JXUD
&RPPLVVDLUHLQYLWpH0DNLNR+DUD
3XEOLFDWLRQ0DVDVKL2JXUD+DQN%XOO*DsWDQH9HUQD0DNLNR+DUD
-RKQ$WNLQHW*DU\0F)DUODQH8QHDXWUHYLOOH$QRWKHU&LW\FDWDORJXHSURGXLWH
HQFROODERUDWLRQDYHF&HQWUH$9DQFRXYHU,QWHUQDWLRQDO&HQWUHIRU
&RQWHPSRUDU\$VLDQ$UW
(;326,7,217(0325$,5(
*,6(/($0$17($
+($9(1ª6*$7($)7(5672&.+$86(1
>/(63257(6'83$5$',6'ª$35º6672&.+$86(1@
*,6(/($0$17($
/(63257(6'83$5$',6'ª$35º6672&.+$86(1
OªRFFDVLRQ GH VD VpULH 0XU j PXU OH 0XVpH GªDUW GH -ROLHWWH
SUpVHQWH/HVSRUWHVGXSDUDGLVGªDSUqV6WRFNKDXVHQXQH¤XYUHLQ
VLWX FUppH VSpFLILTXHPHQW SRXU OH 0$- SDU *LVHOH $PDQWHD 3RXU
UpDOLVHUFHWWHPXUDOHOªDUWLVWHVªHVWLQVSLUpHGXPRWLIGHVJULOOHVHQ
IHU IRUJp TXL JDUGDLHQW DXWUHIRLV OªHQWUpH GX PDQRLU VHLJQHXULDO GH
0DVFRXFKHHWTXLVRQWDXMRXUGªKXLH[SRVpHVHQSHUPDQHQFHGDQV
OHKDOOGX0XVpH
/D UpDOLVDWLRQ GH FHWWH LPSRVDQWH PXUDOH D QpFHVVLWp SOXVLHXUV
pWDSHVDLQVLTXªXQWUDYDLOPLQXWLHX[GHODSDUWGHOªDUWLVWH'DQVXQ
SUHPLHUWHPSVHOOHDUHSURGXLWOHPRWLIGHVLPSRVDQWHVJULOOHVVXU
GHV EDQGHV GH YLQ\OH TXªHOOH D HQVXLWH FROOpHV VXU OH PXU SXLV
UHFRXYHUWHV GªXQH ILEUH WH[WLOH V\QWKpWLTXH TXL UDSSHOOH OH YHORXUV
/ªDUWLVWH D FHSHQGDQW FKRLVL GªLQYHUVHU OHV SDUWLFXODULWpV IRUPHOOHV
GX PRWLI GªRULJLQH ODLVVDQW YLGH OD VXUIDFH GHV DUDEHVTXHV
UHSRUWpHV 'pYRLOpH DX FRXUV GH OªDXWRPQH FHWWH ¤XYUH
XQLTXH UDSSHOOH OªLQWpUrW GH OªDUWLVWH SRXU OHV EDUULqUHV SK\VLTXHV
FRQVWUXLWHVDILQGªH[FOXUHGHVLQGLYLGXVRXGHVJURXSHVFRQVLGpUpV
FRPPHPHQDoDQWVRXLQGpVLUDEOHV
/D FRPPLVVDLUH (YH/\QH %HDXGU\ FRQVHUYDWULFH GH OªDUW
FRQWHPSRUDLQDX0$-DRUJDQLVpFHWWHVHFRQGHpGLWLRQGHODVpULH
0XUjPXUTXLLQYLWHXQHIRLVOªDQXQDUWLVWHjLQYHVWLUOªLPSRVDQW
PXUGHOªHVFDOLHUORQJHDQWOHKDOOGªHQWUpHGX0XVpH3URSRVpHHQ
GHKRUV GH OD SURJUDPPDWLRQ UpJXOLqUH0XU j PXU D SRXU REMHFWLI
GH IDLUH GpFRXYULU GH QRXYHOOHV FUpDWLRQV GªDUWLVWHV HQ DUW
FRQWHPSRUDLQ HW FH GDQV XQ HVSDFH LQXVLWp TXL VH SUpVHQWH WHOOH
XQHSDJHEODQFKHjUHPSOLU
9XHGHOªH[SRVLWLRQ*LVHOH$PDQWHD/HVSRUWHVGXSDUDGLVGªDSUqV6WRFNKDXVHQ
'XRFWREUHjFHMRXU
$UWLVWH*LVHOH$PDQWHD
(;326,7,217(0325$,5(
*,6(/($0$17($%($8;5·9(6'85(69e5,7e6
/ªH[SRVLWLRQ %HDX[ UrYHV GXUHV YpULWpV SURSRVDLW XQH YXH
GªHQVHPEOHGHOª¤XYUHGHOªDUWLVWH*LVHOH$PDQWHD$ILQGªLOOXVWUHU
OªpYROXWLRQ GH OD FDUULqUH GH OªDUWLVWH OD FRPPLVVDLUH (YH/\QH
%HDXGU\ DYDLW UpXQL XQH VpOHFWLRQ VLJQLILFDWLYH Gª¤XYUHV
SURGXLWHV HQWUH HW DXMRXUGªKXL GRQW TXDWUH SLqFHV LQpGLWHV
UpDOLVpHVVSpFLILTXHPHQWSRXUFHWWHH[SRVLWLRQ
/DPLVHHQHVSDFHGHV¤XYUHVUpSRQGDLWDX[FKDQJHPHQWVGDQV
OHV SUpRFFXSDWLRQV DUWLVWLTXHV TXL RQW PDUTXp OD SUDWLTXH GH
*LVHOH$PDQWHDGHSXLVOHVGpEXWVGHVDFDUULqUH/HSDUFRXUVGH
OªH[SRVLWLRQ TXL VH GLYLVDLW HQ WURLV VHFWLRQV GpEXWDLW DYHF GHV
¤XYUHVGHMHXQHVVHFRPPH+HDYHQHW:KLWH)ROO\
RIRLVRQQHOªH[XEpUDQFHGXVW\OHURFRFRNLWVFKFDUDFWpULVWLTXH
GH OD SUDWLTXH GH OªDUWLVWH &HV ¤XYUHV WpPRLJQDLHQW GH OªLQWpUrW
TXH*LVHOH$PDQWHDDYDLWjOªpSRTXHSRXUOHVV\PEROHVSURYHQDQW
GX SDWULPRLQH SRSXODLUH HW OHV VWpUpRW\SHV TXL OHXU VRQW
FRXUDPPHQW DVVRFLpV /D GHX[LqPH VHFWLRQ pWDLW GpGLpH DX[
FUpDWLRQV GH OD VHFRQGH PRLWLp GHV DQQpHV R OH SURSRV
IpPLQLVWH TXL DSSDUDLVVDLW HQ ILOLJUDQH GDQV OD SURGXFWLRQ
DQWpULHXUH WURXYDLW XQH UpVRQDQFH EHDXFRXS SOXV IRUWH PRWLYpH
FHWWH IRLV SDU XQH LQWHQWLRQ YRORQWDLUH /D WURLVLqPH HW GHUQLqUH
VHFWLRQ pWDLW FRQVDFUpH j OD SUDWLTXH DFWXHOOH GH OªDUWLVWH /HV
¤XYUHV LQpGLWHV TXL \ pWDLHQW H[SRVpHV UHIOpWDLHQW OªLQWpUrW TXH
*LVHOH$PDQWHDPDQLIHVWHGHSXLVOHGpEXWGHVDQQpHVSRXU
OHV QRWLRQV GH EDUULqUH HW OªXVDJH TXªHQ RQW IDLW OHV GLIIpUHQWHV
FXOWXUHVjWUDYHUVOHWHPSV
2ULJLQDLUH GH &DOJDU\ *LVHOH $PDQWHD HVW pWDEOLH j 0RQWUpDO
GHSXLV HW WUDYDLOOH DX 'pSDUWHPHQW GªDUWV SODVWLTXHV GH
Oª8QLYHUVLWp &RQFRUGLD R HOOH HVW SURIHVVHXUH DJUpJpH (OOH HVW
WLWXODLUH GªXQ EDFFDODXUpDW HQ DUWV YLVXHOV GH Oª8QLYHUVLWp GH
&DOJDU\HWGªXQHPDvWULVHHQDUWVYLVXHOVGHOª8QLYHUVLWpGH3XJHW
6RXQG j 6HDWWOH 6RQ WUDYDLO D IDLW OªREMHW GH QRPEUHXVHV
H[SRVLWLRQVSUpVHQWpHVSULQFLSDOHPHQWDX&DQDGD
*,6(/($0$17($
%($8;5·9(6'85(69e5,7e6
>6:((7'5($06+$5'7587+6@
9XHGHOªH[SRVLWLRQ*LVHOH$PDQWHD%HDX[UrYHVGXUHVYpULWpV
'XMDQYLHUDXDYULO
$UWLVWH*LVHOH$PDQWHD
<$0/$8
e/2*('(/ªe9$1(6&(1&(/ª(63$&(
/(7(036(7/ª,0$*('84827,',(1
/ªH[SRVLWLRQeORJHGHOªpYDQHVFHQFHOªHVSDFHOHWHPSVHWOªLPDJH
GXTXRWLGLHQUHJURXSDLWWURLV¤XYUHVUpFHQWHVGHOªDUWLVWH<DP/DX
TXL FRPELQDLHQW YLGpR QXPpULTXH HW DQLPDWLRQ HQ ' 'DQV OHV
GHX[ SUHPLqUHV 5RRP HW 5RRP $Q ([WHQVLRQ OªHVSDFH GRPHVWLTXH HW OHV JHVWHV GX TXRWLGLHQ QRXV pWDLHQW
GRQQpV j YRLU GDQV XQH PLVH HQ VFqQH ERXOHYHUVDQW OHV
UHSUpVHQWDWLRQV FRQYHQWLRQQHOOHV GH OªHVSDFH HW GX SDVVDJH GX
WHPSV $X PR\HQ GªXQ ORJLFLHO GH PRGpOLVDWLRQ ' OªDUWLVWH
FRQVWUXLW XQ HQYLURQQHPHQW YLUWXHO DX FHQWUH GXTXHO VªpOqYH XQH
VRUWH GªDUPDWXUH GH IRUPH FXELTXH 'HV VpTXHQFHV ILOPpHV OH
PRQWUDQW GDQV VRQ LQWLPLWp VRQW SURMHWpHV VXU OHV SDURLV
WUDQVOXFLGHVGHODVWUXFWXUHTXLWRXUQHOHQWHPHQWVXUHOOHPrPH
6RXVOªHIIHWGXPRXYHPHQWOHVSODQVVHPXOWLSOLHQWSLYRWHQWHWVH
VXSHUSRVHQW SRXU IRUPHU XQH URQGH GDQV ODTXHOOH OHV OLHX[ VH
GpFRPSRVHQWHWVHUHFRPSRVHQWVDQVFHVVHjSDUWLUGªXQSRLQWGH
YXH GLIIpUHQW /ªLOOXVLRQ GH OD UpDOLWp HVW GqV ORUV pYDFXpH SRXU
IDLUH SODFH j XQ XQLYHUV PRXYDQW R Oª¤LO QªD DXFXQ SRLQW GH
UHSqUHIL[HDXTXHOVªDFFURFKHUPDLVRSDUDGR[DOHPHQWOHJHVWH
TXRWLGLHQ EDQDO HW OªREMHW IDPLOLHU SUHQQHQW XQH GLPHQVLRQ
QRXYHOOH
/DWURLVLqPH¤XYUH+XWRQJ+RXVHQRXVWUDQVSRUWDLWGDQV
XQHVLKH\XDQGH%HLMLQJXQPRGqOHWUDGLWLRQQHOGHPDLVRQjFRXU
FDUUpH DXMRXUGªKXL HQ YRLH GH GLVSDULWLRQ &RPPH GDQV OHV
¤XYUHV SUpFpGHQWHV OªDUFKLWHFWXUH VH GpSOR\DLW VRXV IRUPH GH
VpTXHQFHV SURMHWpHV VXU OHV SDURLV GªXQH VWUXFWXUH YLUWXHOOH
DQLPpH2Q\YR\DLW<DP/DXHWXQDPLHQWUDLQGHVHOLYUHUjXQH
IRXOH GH SHWLWHV DFWLRQV RUGLQDLUHV PDLV FHOOHVFL LQWHUURPSXHV
UHSULVHV UpSpWpHV PRQWUpHV VRXV XQ DXWUH SODQ DORUV TXH
SDVVDQW HW UHSDVVDQW VRXV QRV \HX[ OHV GLIIpUHQWHV SDUWLHV GH OD
GHPHXUH/HWHPSVVHPEODLWVªrWUHILJp¥HWDYHFOXLFHWWHPDLVRQ
DQFLHQQHHWVHVPRGHUQHVRFFXSDQWV¥GDQVXQSUpVHQWVDQVILQ
HQpTXLOLEUHDXERUGGXQpDQW
<DP /DX HVW RULJLQDLUH GH +RQJ .RQJ ,O HVW GpVRUPDLV pWDEOL j
7RURQWRRLOHVWUHSUpVHQWpSDUOD/HR.DPHQ*DOOHU\6RQWUDYDLO
DpWpSUpVHQWpjGHQRPEUHXVHVRFFDVLRQVDX&DQDGDDX[eWDWV
8QLV HW HQ (XURSH HW D IDLW OªREMHW GH PDLQWHV SXEOLFDWLRQV ,O HVW
DFWXHOOHPHQWFKDUJpGHFRXUVDX'pSDUWHPHQWGHVDUWVYLVXHOVGH
Oª8QLYHUVLWp<RUN
(;326,7,217(0325$,5(
<$0/$8
e/2*('(/ªe9$1(6&(1&(/ª(63$&(
/(7(036(7/ª,0$*('84827,',(1
>,135$,6(2)(9$1(6&(1&(63$&(
7,0($1',0$*(2)7+((9(5<'$<@
<DP/DX+XWRQJ+RXVH
'XMDQYLHUDXPDL
$UWLVWH<DP/DX
(;326,7,217(0325$,5(
),21$%$11(5
7286/(6$9,216'(&+$66('8021'(
7RXV OHV DYLRQV GH FKDVVH GX PRQGH HVW OH WLWUH GªXQH YLGpR
UpDOLVpH HQ SDU OªDUWLVWH EULWDQQLTXH )LRQD %DQQHU HW
SUpVHQWpHUpFHPPHQWORUVGHOD1XLW%ODQFKHj3DULV3RXU
FH SURMHW OªDUWLVWH D FUpp XQPRQWDJHYLGpR jSDUWLU GH FRXSXUHV
GH SUHVVH PRQWUDQW WRXV OHV PRGqOHV GªDYLRQV GH FKDVVH HQ
VHUYLFH 8QH KHXUH GXUDQW GHV LPDJHV GªDSSDUHLOV GpILOHQW HQ
FDGHQFH DX U\WKPH GªXQH EDQGH VRQRUH FRPSRVpH GH PDUFKHV
PLOLWDLUHV HW GH PXVLTXHV WULRPSKDOHV SURYHQDQW GH ILOPV GH
JXHUUH /ª¤XYUH HVW IRUWH HW PDOJUp XQH UpDOLVDWLRQ IRUW VLPSOH
HOOHUpXVVLWjVXVFLWHUXQHpPRWLRQLQWHQVH
6LODGpPDUFKHGHOªDUWLVWHSHXWVªDSSDUHQWHUDXWUDYDLODSSOLTXpGX
VFLHQWLILTXH RX GX FROOHFWLRQQHXU OH UpVXOWDWWUDKLW DX FRQWUDLUH OD
SUpFLSLWDWLRQ 1RXV VRPPHV GDQV OªDFWLRQ OªDFFXPXODWLRQ OD
YLWHVVH /HV LPDJHV VRQW GpFRXSpHV YRLUH GpFKLUpHV VDQV
PpQDJHPHQW QRXV ODLVVDQW HQWUHYRLU j OªRFFDVLRQ GHV EULEHV GH
WH[WHV RX GHV SDUWLHV GH PRWV DPSXWpV j JUDQGV FRXSV GH
FLVHDX[ /HV LOOXVWUDWLRQV HOOHVPrPHV GHV HVTXLVVHV RX GHV
SKRWRV VRQW ODLVVpHV j OªpWDW EUXW OªREMHFWLI pWDQW LFL QRQ SDV GH
PHWWUH HQ YDOHXU PDLV SOXW{W GH PRQWUHU GH QRPPHU
GªLQYHQWRULHU/ªDQLPDWLRQHWODPXVLTXHYLHQQHQWDMRXWHUXQHDXWUH
GLPHQVLRQ V\PEROLTXH j FHWWH FROOHFWLRQ GªLPDJHV TXH )LRQD
%DQQHUDYDLWGpMjSUpVHQWpHVRXVIRUPHGHSXEOLFDWLRQHQ
/H WUDYDLO GH )LRQD %DQQHU D IDLW OªREMHW GH QRPEUHXVHV
H[SRVLWLRQV DX[ eWDWV8QLV HW HQ (XURSH 6HV ¤XYUHV VRQW
SUpVHQWHVGDQVTXHOTXHVXQHVGHVSOXVJUDQGHVFROOHFWLRQVGRQW
FHOOHV GX 0XVHXP RI 0RGHUQ $UW j 1HZ <RUN GX 3KLODGHOSKLD
0XVHXPGHOD:DONHU$UW*DOOHU\j0LQQHDSROLVGX$UWV&RXQFLO
(QJODQGHWGHOD7DWH*DOOHU\j/RQGUHV0LVHHQQRPLQDWLRQSRXU
OHSUHVWLJLHX[7XUQHU3UL]HHQ)LRQD%DQQHUYLWHWWUDYDLOOHj
/RQGUHVRHOOHHVWUHSUpVHQWpHSDUOD)ULWK6WUHHW*DOOHU\
),21$%$11(5
$//7+(:25'ª6),*+7(53/$1(6
>7286/(6$9,216'(&+$66('8021'(@
)LRQD%DQQHU7RXVOHVDYLRQVGHFKDVVHGXPRQGH
)LRQD%DQQHUDYHFOªDLPDEOHSHUPLVVLRQGHOD)ULWK6WUHHW*DOOHU\
'XMDQYLHUDXPDL
$UWLVWH)LRQD%DQQHU
(;326,7,217(0325$,5(
:$<83:$<'2:17,75(69,
/HVSDVVLRQQpVGHOLYUHVGªDUWRQWpWpFKR\pV/H0$-DDFFXHLOOL
7LWOHV 9, >7LWUHV 9,@ XQH H[SRVLWLRQ LWLQpUDQWH RUJDQLVpH SDU OH
FROOHFWLI:D\8S:D\'RZQ/RUVGHFKDTXHpGLWLRQOHVRUJDQLVDWHXUV
GH OªpYpQHPHQW LQYLWHQW XQ JURXSH GH FUpDWHXUV j UpDOLVHU GHV
¤XYUHVHQUDSSRUWDYHFOHOLYUHHWjOHVPHWWUHjODGLVSRVLWLRQGX
SXEOLF HQ DGDSWDQW OD PLVH HQ HVSDFH VHORQ OH OLHX FKRLVL &HV
QRXYHOOHV FUpDWLRQV VRQW LQWpJUpHV j OªH[SRVLWLRQ TXL UHSDUW DORUV
YHUVXQHDXWUHGHVWLQDWLRQ
3RXU OªRFFDVLRQ GHV DUWLVWHV D\DQW XQ OLHQ DYHF OD UpJLRQ GH
/DQDXGLqUHRXDYHFOH0XVpHRQWpWpLQYLWpVjSURSRVHUFKDFXQXQ
OLYUHVXUOHWKqPHGHOHXUFKRL['HVFUpDWLRQVGH&KULVWLDQ$XGHW
*UDQW &ROOLQV 0DULH'LGDFH 'R\RQ -RVpH )DIDUG -pU{PH )RUWLQ
%HQRLW -RO\ eULF /DGRXFHXU 2OLYLHU /RQJSUp /RXLVH 0HUFXUH
+pOqQH 5R\ &DUORV =DXQ\ HW Oª$WHOLHU /RXLV&KDUOHV /DVQLHU RQW
GRQFWURXYpSODFHDX[F{WpVGHVTXHOTXH¤XYUHVUpDOLVpHVORUV
GHVpGLWLRQVSUpFpGHQWHVGH7LWOHV
&H SURMHW YLVDLW j IDYRULVHU OH FRQWDFW HW OHV pFKDQJHV DYHF OHV
FRPPXQDXWpV ORFDOHV SDU OªLQWHUPpGLDLUH GªXQ SDUWDJH Gª¤XYUHV
GªLGpHV HW GH FRQQDLVVDQFHV 3UpVHQWpH SRXU OD SUHPLqUH IRLV j OD
OLEUDLULH %DOIRXU %RRNV j 7RURQWR HQ 7LWOHV HQ pWDLW j VD
VL[LqPH pGLWLRQ j -ROLHWWH :D\8S:D\'RZQ HVW XQ FROOHFWLI GH
FRPPLVVDLUHV FRPSRVp GH 6XQQ\ .HUU <DP /DX HW 7DQLD
8UVRPDU]R
:$<83:$<'2:1
7,7/(69,>7,75(69,@
7LWUHV9,3KRWR5LFKDUG0D[7UHPEOD\
'XMDQYLHUDXDRW
$UWLVWHV*LVHOH$PDQWHD'DYLG6FRWW$UPVWURQJ&KULVWLDQ$XGHW,QJULG
%DFKPDQQ%DUEDUD%DOIRXU5RQ%UHQQHU.ODXGLD%LDOD6WHSKDQLH&KDERW5REHUW
&OHPHQWV*UDQW&ROOLQV-XOLH'RXFHW3HWUD'UHLVHU-RVpH)DIDUG-pU{PH)RUWLQ
-HDQeULF5LRSHO:\Q*HOH\QVHHW-DVRQ'LFNVRQ-XOLDQ-DVRQ+DODG\Q-RH
+DPEOHWRQ6XVDQ5RZH+DUULVRQ-DPHOLH+DVVDQ%HQRLW-RO\7ULFLD-RKQVRQ
0DUFLQ.HG]LRU6XQQ\.HUU<DP/DXeULF/DGRXFHXU$WHOLHU/RXLV&KDUOHV
/DVQLHU*RUGRQ/HEUHGW'DYLG-/LHEHUPDQ2OLYLHU/RQJSUp0LFKDHO0DUDQGD
0HLNR0DUX\DPD$QGUHZ0F$OOLVWHU1RpPL0F&RPEHU/RXLVH0HUFXUH'DYLG
0HUULWW/RUQD0LOOV/RUUDLQH$2DGHV-XUR2VDZD/HLJK$QQ3DKDSLOO'LPLWUL
3DSDWKHRGRURX'RPLQLTXH3pWULQ0DU\3RUWHU(YDQ4XLJOH\6DQGUD5HFKLFR
5DFKHOH5LOH\+pOqQH5R\-HQQLIHU5REHUWVRQ6WHSKDQLH6KHSKHUG/RUUDLQH
6LPPV<YRQQH6LQJHU%HFN\6LQJOHWRQ6FRWW6RUOL6DUDK6WHYHQVRQ&KHU\O
6RXUNHV'DLVXNH7DNH\D)ODYLR7UHYLVDQ)LRQD/LP7XQJ7DQLD8UVRPDU]R-R\
:DONHU3DXO:KHODQ$OH[;LH&DUORV=DXQ\HW'DYLG/DIUDQFH
2UJDQLVpHSDUOHFROOHFWLI:D\8S:D\'RZQ
&RPPLVVDLUH&DWKHULQH'XERLV
(;326,7,21+256/(60856
3(1(/23(67(:$57&/2&+(
3(1(/23(67(:$57
&/2&+(
/H 0$- H[SRVDLW KRUV OHV PXUV XQH ¤XYUH UpFHQWH GH O
DUWLVWH
3HQHORSH6WHZDUWLQWLWXOpH&ORFKH3UpVHQWpHHQH[FOXVLYLWpVXUOH
VLWH GH O
DPSKLWKpkWUH GXUDQW OH )HVWLYDO GH /DQDXGLqUH FHWWH
¤XYUH VH FRPSRVDLW GH GHX[ JLJDQWHVTXHV SKRWRJUDSKLHV VXU
OHVTXHOOHVRQYR\DLWXQHLPPHQVHFORFKHGHYHUUHHQYHORSSDQWOD
QDWXUH &HV SKRWRJUDSKLHV pWDLHQW LQVWDOOpHV GRV j GRV GDQV OH
ERLVpPHQDQWjO
DPSKLWKpkWUHFUpDQWDLQVLO
LOOXVLRQRSWLTXHG
XQH
IROLHDUFKLWHFWXUDOH
(PSUHLQWH G
XQH pWRQQDQWH SRpVLH FHWWH ¤XYUH GH 3HQHORSH
6WHZDUWUHQYR\DLWGLUHFWHPHQWjWUDYHUVVHVSUpRFFXSDWLRQVSRXU
OHVYROXPHVHWO
HVSDFHjO
H[SpULHQFHVRPDWLTXHGHODOXPLqUHDX
FRQFHSW GH OD VHUUH FRPPH VWUXFWXUH FDSDEOH GH FDSWXUHU OD
QDWXUHODFKDOHXUHWO
RGHXUGHODWHUUHjODPDJLHGHVMDUGLQVj
O
XWRSLH GH O
(GHQ HW j O
LGpH G
LQYHUVHU O
LQWpULHXU HW O
H[WpULHXU
/ªDUWLVWH V
HVW QDWXUHOOHPHQW ODLVVpH VpGXLUH SDU OHV TXDOLWpV
IRUPHOOHVGXYHUUHSXLVGHODFORFKHHWGHVDSRUWpHV\PEROLTXH
/D SKRWRJUDSKLH V
HVW HQVXLWH LPSRVpH FRPPH PR\HQ LGpDO GH
UpDOLVHUOª¤XYUH
3HQHORSH6WHZDUWHVWQpHj0RQWUpDO7LWXODLUHG
XQEDFFDODXUpDW
HQDUWVSODVWLTXHVGHO
8QLYHUVLWp<RUNj7RURQWRHWG
XQHPDvWULVH
HQ DUWV SODVWLTXHV GH O
8QLYHUVLWp G
eWDW GH 1HZ <RUN j %XIIDOR
HOOH D H[SRVp j GH QRPEUHX[ HQGURLWV DX &DQDGD DLQVL TXªHQ
(XURSH HQ $XVWUDOLH HW DX[ eWDWV8QLV (OOH HVW UpFLSLHQGDLUH GH
SOXVLHXUV SUL[ HW ERXUVHV \ FRPSULV GH QRPEUHXVHV UpVLGHQFHV
GRQWODSOXVUpFHQWHDX0XVpH%DUWKqWHHQ)UDQFH/HWUDYDLOGH
3HQHORSH 6WHZDUW ILJXUH GDQV GLYHUVHV FROOHFWLRQV SXEOLTXHV HW
SULYpHV GRQW FHOOHV GHV &DPEULGJH *DOOHULHV Gª,QFR HW Gª2[IRUG
3URSHUWLHV 3HQHORSH 6WHZDUW YLW HW WUDYDLOOH j 7RURQWR HW HVW
UHSUpVHQWpHSDUOD(GZDUG'D\*DOOHU\
3HQHORSH6WHZDUW&ORFKH
3HQHORSH6WHZDUW
'XMXLOOHWDXDRW
$UWLVWH3HQHORSH6WHZDUW
0$8'(/e21$5'&217$17&283(5&2//(56</9(675(
(Q FROODERUDWLRQ DYHF OD &RUSRUDWLRQ GH Oª$PpQDJHPHQW GH OD
5LYLqUH Oª$VVRPSWLRQ QRXV DYRQV LQYLWp OH SXEOLF j IDLUH OD
GpFRXYHUWH GH GHX[ ¤XYUHV UpDOLVpHV SDU XQH MHXQH DUWLVWH GH
/DQDXGLqUH0DXGH/pRQDUG&RQWDQW3UpVHQWpHVjOªRFFDVLRQGHOD
HpGLWLRQGX)HVWL*ODFHTXLVHWHQDLWOHVHWIpYULHU
VXU OD ULYLqUH /ª$VVRPSWLRQ OHV LQVWDOODWLRQV GH 0DXGH
/pRQDUG&RQWDQW QRXV FRQYLDLHQW j XQH UHQFRQWUH OXGLTXH DYHF OD
QDWXUH /ªDUWLVWH SURSRVDLW GHX[ ¤XYUHV OªXQH SUpVHQWpH j
OªH[WpULHXU HW OªDXWUH j OªLQWpULHXU TXL VH UpSRQGDLHQW VXU IRQG GH
SD\VDJHHQQHLJp6XUOHVLWHGX)HVWL*ODFHOHVSURPHQHXUVHWOHV
SDWLQHXUVpWDLHQWDSSHOpVjGpFRXYULUGHVVSpFLPHQVGHODIDXQHHW
GH OD IORUH GRQW LO QH UHVWDLW SOXV TXH OD VLOKRXHWWH UHSURGXLWH j
OªpFKHOOH UpHOOH 2 FHV KDELWDQWV GHV ERLV pWDLHQWLOV SDVVpV " /D
UpSRQVH DWWHQGDLW OHV YLVLWHXUV GDQV OH KDOO GX 0XVpH R OªDUWLVWH
DYDLW VXVSHQGX XQ PDJQLILTXH OXVWUH IRUPp GªXQ PLQXWLHX[
DVVHPEODJHGHSHUOHVHWGHFULVWDX[VFXOSWpVjODPDLQ6HVSLqFHV
VFLQWLOODQWHV DX[ DOOXUHV EDURTXHV DEULWDLHQW WHO XQ pFULQ XQ SHWLW
SD\VDJHKLYHUQDOHWVDXYDJHGRQWRQUHFRQQDLVVDLWLPPpGLDWHPHQW
OHVpOpPHQWV
0DXGH /pRQDUG&RQWDQW HVW QpH HQ j -ROLHWWH $SUqV DYRLU
WHUPLQpVRQEDFFDODXUpDWHQDUWVYLVXHOVjOª8QLYHUVLWpGX4XpEHFj
0RQWUpDO HOOH D SUpVHQWp VRQ WUDYDLO GDQV SOXVLHXUV FHQWUHV
GªDUWLVWHV GRQW &LUFD &ODUN /ª2(LO GH 3RLVVRQ 3OHLQ 6XG (OOH HVW
UpFLSLHQGDLUH GH ERXUVHV GX &RQVHLO GHV DUWV HW GHV OHWWUHV GX
4XpEHF HW GX &RQVHLO GHV $UWV GX &DQDGD 6RQ WUDYDLO
SULQFLSDOHPHQW LQVWDOODWLI H[SORUH OD UHODWLRQ TXH QRXV HQWUHWHQRQV
DYHFODUHSUpVHQWDWLRQ(OOHWHUPLQHHQFHPRPHQWXQHPDvWULVHHQ
VFXOSWXUHjOª8QLYHUVLWp&RQFRUGLD
(;326,7,21+256/(60856
0$8'(/e21$5'&217$17
&283(5&2//(56</9(675(
0DXGH/pRQDUG&RQWDQW&RXSHUFROOHUV\OYHVWUH
'XMDQYLHUDXIpYULHU
3URGXFWLRQ0XVpHGªDUWGH-ROLHWWHHQFROODERUDWLRQDYHF
OD&RUSRUDWLRQGHOD5LYLqUHOª$VVRPSWLRQ
$UWLVWH0DXGH/pRQDUG&RQWDQW
&RPPLVVDLUH&DWKHULQH'XERLV
(;326,7,21(1&,5&8/$7,21
*$%256=,/$6,
/ªe/248(1&('84827,',(1
>7+((/248(1&(2)7+((9(5<'$<@
*DERU6]LODVL0RWRF\FOLVWHVDXODF%DODWRQ
eSUHXYHjODJpODWLQHDUJHQWLTXHWLUpHHQÓFP
&ROOHFWLRQGHOªDUWLVWH*DERU6]LODVL
'XPDLDXDRW
0XVpHGªDUWGH-ROLHWWH-ROLHWWH4XpEHF
'XRFWREUHDXMDQYLHU
0XVpHFDQDGLHQGHODSKRWRJUDSKLHFRQWHPSRUDLQH2WWDZD2QWDULR
3URGXFWLRQRUJDQLVpHSDUOH0XVpHGªDUWGH-ROLHWWHHWOH0XVpHFDQDGLHQ
GHODSKRWRJUDSKLHFRQWHPSRUDLQHHWPLVHHQFLUFXODWLRQSDUOH0XVpHGHV
EHDX[DUWVGX&DQDGD
$UWLVWH*DERU6]LODVL
&RPPLVVDLUHLQYLWp'DYLG+DUULV
3XEOLFDWLRQV'DYLG+DUULV*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQHW*DERU
6]LODVL7KH(ORTXHQFHRIWKH(YHU\GD\GHX[FDWDORJXHVSURGXLWVHQ
FROODERUDWLRQDYHFOH0XVpHGHVEHDX[DUWVGX&DQDGD
(;326,7,21(1&,5&8/$7,21
',$1(/$1'5<
/(6'e),%5,//$7(856>7+('(),%5,//$7256@
0XVpHGªDUWGH-ROLHWWH9XHGHOªH[SRVLWLRQ'LDQH/DQGU\/HVGpILEULOODWHXUV
3KRWR%DSWLVWH*ULVRQ'LDQH/DQGU\
'XMXLQDXDRW
(VSODQDGH$UW*DOOHU\0HGLFLQH+DW$OEHUWD
'XVHSWHPEUHDXGpFHPEUH
$JQHV(WKHULQJWRQ$UW&HQWUH.LQJVWRQ2QWDULR
'XMDQYLHUDXPDUV
0RXQW6DLQW9LQFHQW8QLYHUVLW\$UW*DOOHU\+DOLID[1RXYHOOHeFRVVH
$UWLVWH'LDQH/DQGU\
3XEOLFDWLRQ(YH/\QH%HDXGU\.LP6LPRQHW*DsWDQH9HUQD
'LDQH/DQGU\/HVGpILEULOODWHXUV7KH'HILEULOODWRUVFDWDORJXHSXEOLp
HQFROODERUDWLRQDYHF7KH5REHUW0F/DXJKOLQ*DOOHU\
(;326,7,21(1&,5&8/$7,21
('3,(1
/ª$175('(6'e/,&(6>+$9(12)'(/,*+7@
0XVpHGªDUWGH-ROLHWWH9XHGHOªH[SRVLWLRQ(G3LHQ+HDYHQ
'XMDQYLHUDXDYULO
0HQGHO$UW*DOOHU\6DVNDWRRQ6DVNDWFKHZDQ
$UWLVWH(G3LHQ
3XEOLFDWLRQ(YH/\QH%HDXGU\6WHIDQR&DWDODQL=Rs&KDQ(G3LHQ
/
DQWUHGHVGpOLFHV+DYHQRI'HOLJKWFDWDORJXHSURGXLWHQFROODERUDWLRQ
DYHFOH%HOOHYXH$UWV0XVHXP
(;326,7,2163(50$1(17(6
(;326,7,216(1/,*1(
$8086e('ª$57'(-2/,(77(
,7,1e5$,5((1$57&217(0325$,1
KWWSLWLQHUDUWRUJ
5pDOLVpHQ ,WLQpUDLUHHQDUWFRQWHPSRUDLQHVWXQVLWHPXOWLPpGLDELOLQJXH
HWLQWHUDFWLITXLVHYHXWXQRXWLOGªLQIRUPDWLRQHWGHFRQWHPSODWLRQLQFLWDQWjOD
YLVLWHGX0XVpHWRXWHQSHUPHWWDQWXQDFFqVGLUHFWjVHVFROOHFWLRQV3URSRVDQW
XQ HQVHPEOH GªDFWLYLWpV HW GH MHX[ TXHVWLRQQDLUHV OLpV j OD GpFRXYHUWH HW j
OªREVHUYDWLRQ RQ \ UHWURXYH SOXV GH ¤XYUHV SURGXLWHV SDU GHV DUWLVWHV
FDQDGLHQV FRQWHPSRUDLQV HW VpOHFWLRQQpHV j SDUWLU GH OD FROOHFWLRQ GX 0XVpH
GªDUWGH-ROLHWWH'RWpGªRXWLOVGHUHFKHUFKHSHUIRUPDQWVODFRQVXOWDWLRQGHFH
VLWHGHPHXUHIDFLOHHWDPXVDQWHHWSHUPHWDX[XWLOLVDWHXUVGªDSSUHQGUHWRXWHQ
VH GLYHUWLVVDQW &RQVWUXLW SRXU OH JUDQG SXEOLF PDLV DXVVL SRXU OD FOLHQWqOH
VFRODLUH GH QLYHDX SULPDLUH VHFRQGDLUH FROOpJLDO HW PrPH XQLYHUVLWDLUH
,WLQpUDLUH HQ DUW FRQWHPSRUDLQ FRQWULEXH j DLJXLVHU OD FXULRVLWp GHV MHXQHV HW
GHV PRLQV MHXQHV HQYHUV OH SDWULPRLQH HVWKpWLTXH WRXW HQ IDYRULVDQW
O
LQWHUGLVFLSOLQDULWp GHV SUDWLTXHV DUWLVWLTXHV TXL \ VRQW SUpVHQWpHV /H
RFWREUH ORUV GH VRQ FRQJUqV OD 6RFLpWp GHV PXVpHV TXpEpFRLV D
SURFpGp j OD UHPLVH GH VHV SUL[ /RUV GH FHW pYpQHPHQW OH 0XVpH GªDUW GH
-ROLHWWH D VX VH GpPDUTXHU HQ UHPSRUWDQW OH 3UL[ $XGLRYLVXHO HW PXOWLPpGLD
7pOp4XpEHFSRXUODTXDOLWpOHG\QDPLVPHHWOHF{WpQRYDWHXUGHFHVLWH
,QWHUQHWUpDOLVpHQFROODERUDWLRQDYHF&RQQH[LRQ/DQDXGLqUH
/(66,º&/(6'(/ª,0$*(
/$&2//(&7,213(50$1(17(
'8;,9H6,º&/( 126-2856
$576$&5e'802<(1¶*(
(8523e(1(7'848e%(&
([SRVLWLRQFRQVDFUpHjOªpYROXWLRQGH
OªDUWUHOLJLHX[GX0R\HQ¶JHHXURSpHQ
DX4XpEHFGHVDQQpHV([SRVLWLRQ
SURGXLWHSDUOH0XVpHGªDUWGH-ROLHWWH
&HGpSORLHPHQWGHVFROOHFWLRQVGX
0XVpHGªDUWGH-ROLHWWHUDVVHPEOH
¤XYUHVTXLYRQWGX;,9HVLqFOHjQRV
MRXUV
HORS LES MURS
2=,$6/('8& /$&$7+e'5$/(
3$5&2856'e&289(57(
$ILQGHIDLUHFRQQDvWUHXQHQVHPEOH
H[FHSWLRQQHOGª¤XYUHVVLJQpHVSDUOH
SOXVFpOqEUHUHSUpVHQWDQWGHOD
SHLQWXUHUHOLJLHXVHDX&DQDGDOH
0XVpHDHQWUHSULVGHGRWHUOD
&DWKpGUDOHGH-ROLHWWHGªXQVXSSRUW
GªLQWHUSUpWDWLRQSHUPDQHQWSHUPHWWDQW
DXYLVLWHXUGªDSSUpFLHUODSUHPLqUHFRPPDQGHGªHQYHUJXUHTXªDUpDOLVpHOH
SHLQWUH2]LDV/HGXF/DUHFKHUFKHDpWpFRQILpHDXSURIHVVHXU/DXULHU/DFURL[
VSpFLDOLVWHGHOª¤XYUHGª2]LDV/HGXF
3(563(&7,9(6)(00(6$57,67(6(1$0e5,48('8125'
KWWSZZZPXVHHYLUWXHOFDSHUVSHFWLYHV
&HWWH H[SRVLWLRQ YLUWXHOOH SDQDPpULFDLQH FRRUGRQQpH SDU OH 5pVHDX FDQDGLHQ
GªLQIRUPDWLRQVXUOHSDWULPRLQHDpWpUpDOLVpHSDUXQJURXSHGªLQVWLWXWLRQVGRQW
OH 0XVpH GªDUW GH -ROLHWWH OH *OHQERZ 0XVHXP GH &DOJDU\ $OEHUWD OD
0F0LFKDHO &DQDGLDQ $UW &ROOHFWLRQ GH .OHLQEXUJ 2QWDULR OH /RXLVLDQD 6WDWH
0XVHXPDX[eWDWV8QLVHWOª,QVWLWXWR 1DFLRQDGH%HOODV$UWHVDX0H[LTXH&H
VLWH SUpVHQWH XQ HQVHPEOH GªXQH FHQWDLQH Gª¤XYUHV GH IHPPHV
DUWLVWHV/ªH[SRVLWLRQ FRPSUHQG pJDOHPHQW GHVWH[WHV SRpWLTXHV DLQVL TXH GHV
H[WUDLWVYLGpRHWPXVLFDX[/H0XVpHGªDUWGH-ROLHWWHSUpVHQWHGDQVOHFDGUH
GHFHWWHH[SRVLWLRQYLUWXHOOH¤XYUHVGHVDFROOHFWLRQSHUPDQHQWH
38%/,&$7,216
&/$8',(*$*121
3DU0pODQLH%RXFKHU-XOLH%pOLVOHHW0DULHWWH
%RXLOOHWHWSURGXLWHSDU(;35(66,21&HQWUH
GªH[SRVLWLRQGH6DLQW+\DFLQWKH/ª2(LOGH
3RLVVRQHWOH0XVpHGªDUWGH-ROLHWWH
SDJHV
,OOXVWUDWLRQVFRXOHXU
7H[WHVHQIUDQoDLVHWHQDQJODLV
,6%1
'LVWULEXpHSDU$%&$UW%RRNV&DQDGD
('3,(1
/ª$175('(6'e/,&(6
+$9(12)'(/,*+7
3DU(YH/\QH%HDXGU\6WHIDQR&DWDODQL
HW=Rs&KDQHWSURGXLWHSDUOH0XVpHGªDUW
GH-ROLHWWHHWOH%HOOHYXH$UWV0XVHXP
SDJHV
,6%1
'LVWULEXpHSDU$%&$UW%RRNV&DQDGD
*$%256=,/$6,
/ªe/248(1&('84827,',(1
3DU'DYLG+DUULVHWSURGXLWHSDUOH
0XVpHGªDUWGH-ROLHWWHHWOH0XVpH
QDWLRQDOGHVEHDX[DUWVGX&DQDGD
SDJHV
7H[WHHQIUDQoDLV8QHYHUVLRQDQJODLVHDpWp
SXEOLpHVLPXOWDQpPHQWVRXVOHWLWUH*DERU
6]LODVL7KH(ORTXHQFHRIWKH(YHU\GD\
,6%1
'LVWULEXpHVSDU$%&$UW%RRNV&DQDGD
81($875(9,//(
$127+(5&,7<
3DU0DVDVKL2JXUD+DQN%XOO*DsWDQH
9HUQD0DNLNR+DUD-RKQ$WNLQHW*DU\
0F)DUODQHHWSURGXLWHSDUOH0XVpHGªDUW
GH-ROLHWWHHW&HQWUH$9DQFRXYHU
,QWHUQDWLRQDO&HQWUHIRU&RQWHPSRUDU\
$VLDQ$UW
SDJHV
,OOXVWUDWLRQVQRLUHWEODQF
$&7,9,7e6e'8&$7,9(6
(7&8/785(//(6
)UpTXHQWDWLRQGHVDFWLYLWpVpGXFDWLYHVHWFXOWXUHOOHV
/HVJXLGHVGX0XVpHGªDUWGH-ROLHWWH
$FWLYLWpVSRXUOHVJURXSHVVFRODLUHV
$FWLYLWpVSRXUOHVIDPLOOHVHWOHVMHXQHV
$FWLYLWpVJUDQGSXEOLF
$FWLYLWpVFXOWXUHOOHV
3URMHW&RORULHUVLPSOHPHQWJpDQW
:D\8S:D\'RZQ
)5e48(17$7,21'(6$&7,9,7e6
e'8&$7,9(6(7&8/785(//(6
$FWLYLWpVSRXUOHVJURXSHVVFRODLUHV
$FWLYLWpVpGXFDWLYHVJUDQGSXEOLF
$FWLYLWpVpGXFDWLYHVSRXUOHV
IDPLOOHVHWOHVMHXQHV
$FWLYLWpVFXOWXUHOOHV
727$/
$&7,9,7e63285/(6*5283(66&2/$,5(6
&2//$*( /ª$1&,(11(
'HVYLVLWHVHWGHVDWHOLHUVDXWRXUGHVH[SRVLWLRQV7HPSVGHJODFHGH&ODXGLH
*DJQRQHW/HVGpYHUVHPHQWVGH)UDQoRLV/DFDVVHRQWpWpRIIHUWVDX[JURXSHV
GHODPDWHUQHOOHHWGXSULPDLUHDLQVLTXHGXVHFRQGDLUH
$FWLYLWpRIIHUWHGHIpYULHUjDYULO
7HFKQLTXH0pGLXPVPL[WHV
&2/25,(56,03/(0(17*e$17
$FWLYLWpFROOHFWLYHGªXQHPXUDOHUpDOLVpHSDUOHFROOHFWLI6WXGLREURHQ
FROODERUDWLRQDYHFOHVpOqYHVGHHHWHDQQpHVGHOªpFROH6LPRQ32WWDZDGH
0DQDZDQHWGHVpFROHV6DLQWH7KpUqVHHW/HV0pOq]HVGH-ROLHWWH
/(6*8,'(6'8086e('ª$57'(-2/,(77(
6\OYLH%HOOHPDUH
'HQLVH%RXFKDUG
6WHSKDQQ\%RXFKDUG
&KULVWLDQH%UD]HDX
5LWD%UXQHOOH
$XGUH\&KDUURQ
/XF'HQRPPp
(GG\'HQRPPp
'HQLVH'HVMDUGLQV
0\ODLQH'LRQQH
5D\PRQG*DXWKLHU
0LFKHOLQH-RGRLQ
3LHUUHWWH/DIUHQLqUH
/H0XVpHRIIUHjXQHFOLHQWqOHYDULpHGHVDFWLYLWpVpGXFDWLYHVHQOLHQDYHFOHV
H[SRVLWLRQVSHUPDQHQWHVHWWHPSRUDLUHV/HVSURJUDPPHVSURSRVpVUHMRLJQHQW
GHV JURXSHV GH MHXQHV GX SUpVFRODLUH GX SULPDLUH GX VHFRQGDLUH HW GX
FROOpJLDO 3RXU FHV GHUQLHUV GHV SURMHWV VSpFLDX[ VRQW RUJDQLVpV FRQMRLQ
WHPHQWDYHFOH&pJHSUpJLRQDOGH/DQDXGLqUHj-ROLHWWH
$UPHOOH/H3DLK
5HQpH/HVVDUG
/RXLVH0DOR
0DULH3LD0DVVH
'DQLHOOH0D\HUV
)UDQFLQH3LFKp
&ODLUH5LFDUG'XIRXU
-HDQQLQH5LYHVW
0DULH5RXVVLQ
&DQGLGH6LPDUG
5LFKDUG6PLWK
/LVH7XUFRWWH
3LHUUH9LQFHQW
$FWLYLWpRIIHUWHGHPDLjMXLQ
7HFKQLTXHGHVVLQHWFRORULDJH
)/(856,0$*,1$,5(6(75e(//(6
'HVDFWLYLWpVYLVLWHVLQWHUDFWLYHVHWDWHOLHUVGHFUpDWLRQRQWpWpSURSRVpHVDX[
JURXSHVVFRODLUHVGXSULPDLUHHQOLHQDYHFOHVH[SRVLWLRQV8QHDXWUHYLOOHHW/H
PRQGHjOªHQYHUV/HVpOqYHVGHODPDWHUQHOOHDXFLQTXLqPHVHFRQGDLUHRQW
UpDOLVpXQYpJpWDOHQSDSLHU
$FWLYLWpRIIHUWHGªRFWREUHjGpFHPEUH
7HFKQLTXHSDSLHUGpFRXSpHWDVVHPEODJH
2+/$%(//($66,(77(
'HVYLVLWHVHWGHVDWHOLHUVHQOLHQDYHFOHVH[SRVLWLRQV%HDX[UrYHVGXUHV
YpULWpVGH*LVHOH$PDQWHDHWeORJHGHOªpYDQHVFHQFHOªHVSDFHOHWHPSVHW
OªLPDJHGXTXRWLGLHQGH<DP/DXRQWpWpRIIHUWVDX[JURXSHVGHODPDWHUQHOOH
HWGXSULPDLUH&UpDWLRQGªXQHDVVLHWWHHQIORFDJHLQVSLUpHGXWUDYDLOGH*LVHOH$PDQWHD
$FWLYLWpRIIHUWHGHIpYULHUjDYULO
7HFKQLTXHGHVVLQHWIORFDJH
/,95(6'ª$57,67(6
$&7,9,7e6*5$1'38%/,&
'DQVOHFDGUHGHVDFWLYLWpVVRXOLJQDQWOH-RXUGHOD7HUUHXQDWHOLHUGH
FUpDWLRQHQOLHQDYHFOªH[SRVLWLRQWHPSRUDLUH7LWUHV9,DpWpSURSRVpDX[pOqYHV,OV
RQWUpDOLVpGHVOLYUHVGªDUWLVWHVjSDUWLUGHPDWpULDX[UHF\FOpV
3DUVHVQRPEUHXVHVDFWLYLWpVpGXFDWLYHVOH0XVpHHVWXQOLHXGªH[SUHVVLRQGH
UpIOH[LRQ GH TXHVWLRQQHPHQW GH FULWLTXH GªH[SORUDWLRQ HW GH SDUWDJH SRXU OD
FROOHFWLYLWp 8QH DWWHQWLRQ SDUWLFXOLqUH HVW SRUWpH j VD FOLHQWqOH JUDQG SXEOLF OXL
RIIUDQW GHV DWHOLHUV GH GHVVLQ DYHF PRGqOHV YLYDQWV RX GHV FRXUV GªKLVWRLUH GH
OªDUW /H 6HUYLFH pGXFDWLI PHW pJDOHPHQW VXU SLHG XQ SURJUDPPH GH YLVLWHV
FRPPHQWpHV SRXU XQ SXEOLF DGXOWH SDUWLFXOLqUHPHQW GXUDQW OD VDLVRQ HVWLYDOH
7RXWDXORQJGHOªDQQpHGHVpYpQHPHQWVVSpFLDX[VRQWDXVVLRUJDQLVpVSRXUXQH
FOLHQWqOH pODUJLH OHV IDPLOOHV OHV DGXOWHV HW OHV DvQpV &HV pYpQHPHQWV
SHUPHWWHQW OD VHQVLELOLVDWLRQ GH WRXV OHV JURXSHV GªkJHV DX[ ULFKHVVHV GX
SDWULPRLQHDUWLVWLTXHTXHFRQVHUYHOH0XVpH
$FWLYLWpRIIHUWHGXDXDYULO
7HFKQLTXHFROODJHDVVHPEODJHHWGHVVLQ
$&7,9,7e63285/(6)$0,//(6(7/(6-(81(6
&2/25,(56,03/(0(17*e$17
$7(/,(56'ª$57$9(&02'º/(69,9$176
-XVTXªDXVHSWHPEUHOHVIDPLOOHVRQWHXODFKDQFHGHSDUWLFLSHUDX
FRORULDJHGHFHWWHIUHVTXHJpDQWHUpDOLVpHSDUOHFROOHFWLIIUDQoDLV6WXGLREURHW
GHVVLQpHjPDLQOHYpHSDUOªLOOXVWUDWHXUGªRULJLQHMDSRQDLVH3RVWLFV/HVSDUWLFLSDQWV
VHVRQWDGRQQpVHWRQWSRXUODSOXSDUWUHQRXpDYHFOHSODLVLUGXFRORULDJH
$WHOLHUVGHGHVVLQGHSHLQWXUHGHPRGHODJHDYHFPRGqOHVYLYDQWVRIIHUWVDX[
DUWLVWHVSURIHVVLRQQHOVHWDPDWHXUV/HVDWHOLHUVVRQWDQLPpVSDU*K\VODLQH
%HDXIRUWHW'RPLQLTXH%LVVRQGDQVOªHVSDFHpGXFDWLI
/$0$*,('(12¹/
6HVVLRQRFWREUHDXGpFHPEUH
6HVVLRQMDQYLHUDXDYULO
OªRFFDVLRQGHODSpULRGHGHVIrWHVHWHQFROODERUDWLRQDYHFOD%LEOLRWKqTXH
5LQD/DVQLHUGH-ROLHWWHOH0$-DSURSRVpDX[SHWLWVHWDX[JUDQGVXQHDFWLYLWp
GHFUpDWLRQ/ªDWHOLHUFRQVLVWDLWjUpDOLVHUGHVGpFRUDWLRQVjOªLPDJHGH
SRLQVHWWLDV/HVIDPLOOHVpWDLHQWLQYLWpHVSDUODVXLWHjVXVSHQGUHOHVGpFRUDWLRQV
jXQLPPHQVHVDSLQpULJpDXFHQWUHGHODELEOLRWKqTXH
,1,7,$7,21 /ª+,672,5('(/ª$57
$ILQGHIDFLOLWHUODFRPSUpKHQVLRQGHOªKLVWRLUHGHVDUWVYLVXHOVOH0XVpHGªDUW
GH-ROLHWWHPHWVXUSLHGGHVFRXUVG
KLVWRLUHGHO
DUWGRQQpVSDUXQHKLVWRULHQQH
GHOªDUW&HWWHDFWLYLWpXQLTXHHQVRQJHQUHRVRQWSUpVHQWpHVDX[SDUWLFLSDQWV
GHV¤XYUHVDXWKHQWLTXHVSURYHQDQWGHVFROOHFWLRQVGX0XVpHDSRXUREMHFWLI
GªRIIULUXQFRPSOpPHQWGHYLVLWHjVDFOLHQWqOHHWGHOXLSHUPHWWUHGHGpFRXYULU
GHV¤XYUHVUDUHPHQWH[SRVpHVHQVDOOH'XPDWpULHOGLGDFWLTXHHVWpJDOHPHQW
IRXUQL&HVFRXUVVRQWGRQQpVDX0$-VXUXQHEDVHUpJXOLqUHjUDLVRQGHGHX[
VpULHVGHGL[FRXUVVRLWXQHVRL[DQWDLQHGªKHXUHVDQQXHOOHPHQW
/HGpFHPEUH
&283(5&2//(56</9(675(
OªRFFDVLRQGHOªH[SRVLWLRQ&RXSHUFROOHUV\OYHVWUHOH0$-SUpVHQWDLWGHX[
¤XYUHVGHOªDUWLVWH0DXGH/pRQDUG&RQWDQWRULJLQDLUHGH6DLQW&KDUOHVGH
0DQGHYLOOHXQHGDQVOHKDOOGªHQWUpHGX0XVpHHWOªDXWUHVXUOHVLWHGX)HVWL
*ODFH FHWWHRFFDVLRQOH0$-DDVVXUpODPpGLDWLRQFXOWXUHOOHGHOª¤XYUH
KRUVOHVPXUVGX0XVpH
/
DUWFRQWHPSRUDLQDX4XpEHFHWDX&DQDGDGHSXLVMDQYLHUDXDYULO
3RUWUDLWHWDXWRSRUWUDLWRFWREUHDXHUGpFHPEUH
,FRQRJUDSKLHGHODIHPPHPDUVDXDYULO
/HVHWIpYULHU
/$5(/¶&+($8086e(
5(1'(=9286&8/785(/6
6HPDLQHGªDFWLYLWpVVSpFLDOHPHQWFRQoXHVSRXUODUHOkFKHVFRODLUH'HVYLVLWHV
HWGHVDWHOLHUVGHFUpDWLRQHQOLHQDYHFOHV¤XYUHVGHVDUWLVWHV*LVHOH
$PDQWHD)LRQD%DQQHUHW<DP/DXRQWpWpRIIHUWVDX[IDPLOOHVGHODUpJLRQGH
/DQDXGLqUHHWSRXUODSUHPLqUHIRLVDX[FDPSVGHMRXU
'DQVOHFDGUHGHV5HQGH]YRXVFXOWXUHOVRUJDQLVpVSDUOD6RFLpWpGH
GpYHORSSHPHQWGXFHQWUHYLOOHGH-ROLHWWHOH0XVpHG
DUWGH-ROLHWWHDRUJDQLVp
OD-RXUQpH0XQHMRXUQpHGªDFWLYLWpVJUDWXLWHVGXUDQWODTXHOOHOHVYLVLWHXUVRQW
SXDVVLVWHUjXQHYLVLWHFRPPHQWpHGHVH[SRVLWLRQVHVWLYDOHV*DERU6]LODVL
/ªpORTXHQFHGXTXRWLGLHQDLQVLTXH0DULH-RVpH/DIUDPERLVH(QVHPEOHVUpWLFXODLUHV
'XHUDXPDUV
/HPDL
/(6-2851e(6'(/$&8/785(
$&7,9,7e6&8/785(//(6
/H0XVpHG
DUWGH-ROLHWWHDSURILWpGHV-RXUQpHVGHODFXOWXUHSRXULQYLWHU
ODSRSXODWLRQjGpFRXYULUOH0XVpHHWVRQKLVWRLUH'DQVXQSUHPLHUWHPSVSDU
GHVYLVLWHVJXLGpHVRIIHUWHVDX[JURXSHVRUJDQLVpVHWGDQVXQGHX[LqPHWHPSV
SDUXQHYLVLWHGHVUpVHUYHVHQFRPSDJQLHGHOªDUFKLYLVWHGHVFROOHFWLRQVDLQVLTXH
GHVDWHOLHUVVXUOHVUHFKHUFKHVHQFRXUVUpDOLVpHVSDUXQHKLVWRULHQQHGHOªDUW,O
DpJDOHPHQWRIIHUWGHVYLVLWHVJXLGpHVGHOªH[SRVLWLRQSHUPDQHQWH/HVVLqFOHVGH
OªLPDJHTXLFRQVWLWXHXQHEHOOHLQWURGXFWLRQjOªDUW
/HVHWVHSWHPEUH
/(69,6,7(6'8-(8','86$0(',(7'8',0$1&+(
'XUDQWODSpULRGHHVWLYDOHJUkFHDXGpYRXHPHQWGHPHVGDPHV5LWD%UXQHOOHHW
'HQLVH%RXFKDUGOH0$-RIIUHGHVYLVLWHVJXLGpHVGHVHVH[SRVLWLRQV&HWWH
DFWLYLWpHVWRIIHUWHDX[LQGLYLGXVHWDX[IDPLOOHVVDQVUpVHUYDWLRQOHMHXGLOH
VDPHGLHWOHGLPDQFKHjK
'XMXLOOHWDXDRW
0XVpHGªDUWGH-ROLHWWHFRXUVGªLQLWLDWLRQjOªKLVWRLUHGHOªDUWHWYLVLWHGHVUpVHUYHV
'DQV OD YRORQWp G
pODUJLU VHV SXEOLFV OH 0XVpH GªDUW GH -ROLHWWH RUJDQLVH
GLIIpUHQWHVDFWLYLWpVGHPpGLDWLRQ&HVQRPEUHXVHVDFWLRQVRIIUHQWDX[YLVLWHXUV
GH PXOWLSOHV DFFqV SRXU VªDSSURSULHU OHV DUWV YLVXHOV SDUPL OHVTXHOOHV QRXV
UHWURXYRQV OHV UHQFRQWUHVFDXVHULHV HQ FRPSDJQLH GHV DUWLVWHV HW GHV
FRPPLVVDLUHV OHV FRQIpUHQFHV OHV SURMHFWLRQV GH ILOPV HW OHV FRQFHUWV &HV
pYpQHPHQWVVRQWUpIOpFKLVHWUpDOLVpVHQIRQFWLRQGHVH[SRVLWLRQVSUpVHQWpHVHW
LQWURGXLWVVHORQOHW\SHHWOHVEHVRLQVGXSXEOLF&HWWHIRUPXOHQRXVSHUPHWGH
SURSRVHUXQHPpGLDWLRQDGDSWpHDXFRQWHQXGHVH[SRVLWLRQVHWGHFUpHUXQOLHQ
HVVHQWLHO DYHF OHV JHQV IDLVDQW GX 0$- XQ OLHX GH UHQFRQWUH SRXU OD
FRPPXQDXWp
9(51,66$*(6(75(1&2175(&$86(5,(6
OªRFFDVLRQ GH VHV WURLV JUDQGV YHUQLVVDJHV DQQXHOV OH 0$- SURSRVH j VHV
YLVLWHXUV XQH YLVLWH JUDWXLWH HQ FRPSDJQLH GHV DUWLVWHV HW GHV FRPPLVVDLUHV
2XYHUWH DX JUDQG SXEOLF FHWWH DFWLYLWp HVW GHYHQXH XQH RFFDVLRQ XQLTXH GH
GpFRXYULUHQDYDQWSUHPLqUHOHVH[SRVLWLRQVGX0XVpH&HWWHDFWLYLWpVXVFLWHXQ
LQWpUrWGHSOXVHQSOXVPDUTXpFKH]OHVYLVLWHXUV6RXKDLWDQWIDFLOLWHUOªDFFqVj
FHWpYpQHPHQWOªLQVWLWXWLRQSURSRVHXQHQDYHWWHTXLIDLWO
DOOHUUHWRXU0RQWUpDO
-ROLHWWH 2IIHUWH JUDWXLWHPHQW JUkFH DX VRXWLHQ ILQDQFLHU GH VHV GLIIpUHQWV
SDUWHQDLUHVFHWWHQDYHWWHFRQQDvWXQYLIVXFFqV&HWWHGHUQLqUHOXLSHUPHWQRQ
VHXOHPHQW GªDXJPHQWHU HW GH GLYHUVLILHU VD FOLHQWqOH PDLV pJDOHPHQW GH
FRQVROLGHUODIUpTXHQWDWLRQGXSXEOLFDFWXHOWRXWHQIDYRULVDQWOªpPHUJHQFHGªXQ
WRXULVPHFXOWXUHOGDQVODUpJLRQGH/DQDXGLqUH/DSRSXODULWpGHFHWWHQDYHWWHD
pJDOHPHQW HX SRXU HIIHW GH FUpHU XQ QRXYHO HQJRXHPHQW DXWRXU GHV
YHUQLVVDJHVHWFHWDQWDXSUqVGHVYLVLWHXUVTXHGHVPpGLDV&RPSDUDWLYHPHQW
j OªDQQpH OH WDX[ GH SDUWLFLSDWLRQ DX[ YHUQLVVDJHV DIILFKH FHWWH
DQQpHXQHKDXVVHGHSUqVGH
9HUQLVVDJHGHODSURJUDPPDWLRQG
pWpHWUHQFRQWUHVFDXVHULHVHQ
FRPSDJQLHGHVDUWLVWHVHWGHVFRPPLVVDLUHVGHVH[SRVLWLRQV
/HPDL
DXWRPQHHWUHQFRQWUHVFDXVHULHVHQ
/HVHSWHPEUH
5HQFRQWUHVFDXVHULHDYHFOHVDUWLVWHVGHOªH[SRVLWLRQ7LWUHV9,
/HMDQYLHU
KLYHUHWUHQFRQWUHFDXVHULHVHQ
/HMDQYLHUHUIpYULHU
&21)e5(1&($9(&3$8/'(*8=0$1
/ª$5&+,7(&785((7/(/,95(&200(2%-(7'ª$57
&21)e5(1&(6
81(+(85(81(£895(
&RQIpUHQFHDQLPpHSDUOªDUWLVWH3DXOGH*X]PDQjOªRFFDVLRQGHOªH[SRVLWLRQ
/HPRQGHjOªHQYHUV
OªDXWRPQHOH0$-ODQoDLWOHSURMHW8QHKHXUHXQH¤XYUHXQHVpULH
GHWURLVFRQIpUHQFHVSRUWDQWVXUGHV¤XYUHVWLUpHVGHVDFROOHFWLRQ/ªREMHFWLI
SULQFLSDOGª8QHKHXUHXQH¤XYUHFRQVLVWHjUHMRLQGUHOHV/DQDXGRLVGDQVOHXU
PLOLHXOHVJURXSHVVFRODLUHVOHVSHUVRQQHVGXWURLVLqPHkJHOHVSHUVRQQHV
jPRELOLWpUpGXLWHHWOHVJURXSHVFRPPXQDXWDLUHV3DUOªLQWHUPpGLDLUHGHFHV
FRQIpUHQFHV OH 0$- SUHQG OHV GHYDQWV RIIUDQW XQ SUHPLHU FRQWDFW DX[
¤XYUHV GªDUW GH VD FROOHFWLRQ 3UpVHQWpH jWUDYHUV OD UpJLRQ GH /DQDXGLqUH
FHWWHDFWLYLWpFXOWXUHOOHVªDGDSWHjWRXVOHVSXEOLFVIDFLOLWDQWDLQVLOªDFFqVDX[
DUWV YLVXHOV &KRLVLHV SDUPL OHV SLqFHV GH OD FROOHFWLRQ GX 0$- ,FH
&RQH0RQWPRUHQF\)DOOVGH5REHUW&ORZ7RGG/HFKRSSHUGH
6HUJH /HPRQGH HW 'HVLUH GH -DQD 6WHUEDN RQW pWp UHWHQXHV SRXU
UHSUpVHQWHU GLIIpUHQWV DVSHFWV GH VRQ LPSRUWDQWH FROOHFWLRQ 6XLWH DX JUDQG
VXFFqVGHFHSURMHWSLORWH XQHGHVpFROHVSDUWLFLSDQWHVD GpVLUpSRXUVXLYUH
OªDFWLYLWpHWDUHoXODFRQIpUHQFLqUHGDQVVHVFODVVHVGHHDQQpHGXSULPDLUH
DILQ GH OHV LQLWLHU DX ODQJDJHSODVWLTXH (Q OHV FRQIpUHQFHV8QH
KHXUHXQH¤XYUHRQWpWpSUpVHQWpHVjOªpFROH/HV0pOq]HVGH-ROLHWWHHWDX
WRWDOpOqYHVRQWSXSURILWHUGHFHWWHDFWLYLWp
/HVHSWHPEUHSUpVHQWpHjOª8QLYHUVLWpGX4XpEHFj0RQWUpDOj
OªLQWpULHXUGXSURJUDPPHGHFRQIpUHQFHV,&,
/HVHSWHPEUHSUpVHQWpHjOª8QLYHUVLWp&RQFRUGLDjOªLQWpULHXUGX
SURJUDPPHGHFRQIpUHQFHV$UWLVW7DONV
&21)e5(1&($9(&<$0/$8
&RQIpUHQFHDQLPpHSDUOªDUWLVWH<DP/DXjOªRFFDVLRQGHOªH[SRVLWLRQ/ªpORJH
GHOªpYDQHVFHQFHOªHVSDFHOHWHPSVHWOªLPDJHGXTXRWLGLHQ
/HPDUVSUpVHQWpHjOª8QLYHUVLWp&RQFRUGLDjOªLQWpULHXUGX
SURJUDPPHGHFRQIpUHQFHV$UWLVW7DONV
&21&(576
&21)e5(1&($9(&$11(0$5,(67-($1$8%5(
&+£85'8086e('ª$57'(-2/,(77(
'DQVOHFDGUHGX)HVWLYDO$ERQGDQFHDFDSSHOODHQFROODERUDWLRQDYHF
OH&K¤XUGH6DLQW/DXUHQWOªHQVHPEOHYRFDO6DLQWH$QQH6LQJHUVHW
/HV9RFHV%RUHDOHV
(QSUpSDUDWLRQjODVRUWLHFXOWXUHOOHDX0XVpHGªDUWFRQWHPSRUDLQGH0RQWUpDO
SRXU YLVLWHU OªH[SRVLWLRQ &ODXGH 7RXVLJQDQW 8QH UpWURVSHFWLYH &RQIpUHQFH
DQLPpH SDU OªKLVWRULHQQH GH OªDUW $QQH0DULH 6W-HDQ $XEUH VXU Oª¤XYUH GH
OªDUWLVWH&ODXGH7RXVLJQDQWHWGRQQpHHQVDOOHjSDUWLUGHV¤XYUHVLVVXHVGH
ODFROOHFWLRQGX0XVpHGªDUWGH-ROLHWWH
/HMXLQjOªpJOLVH1RWUH'DPHGH*UkFHj0RQWUpDO
/HMXLQjOD&DWKpGUDOHGH-ROLHWWH
/HPDUV
-XELODWHDYHFDXSURJUDPPHOD0HVVHHQVLPLQHXUGH%DFKOH)HVWLYDO
7H'HXPGH%ULWWHQXQPRWHWGH0HQGHOVVRKQGHVFDUROVHWGHVQRsOV
DLQVLTXHGHX[SLqFHVGHFRPSRVLWHXUVFRQWHPSRUDLQVeULF:KLWFDUH
HW-XOLDQ:DFKQHU
&21)e5(1&($9(&0,&+(/,1(6(1e&$/
(Q SUpSDUDWLRQ j OD VRUWLH FXOWXUHOOH DX 0XVpH GHV EHDX[DUWV GH 0RQWUpDO
SRXUYLVLWHUOªH[SRVLWLRQ9DQ'RJHQ8QIDXYHHQYLOOH&RQIpUHQFHDQLPpHSDU
OªKLVWRULHQQHGHOªDUW0LFKHOLQH6HQpFDOVXUOª¤XYUHGHOªDUWLVWH9DQ'RJHQHW
SUpVHQWpHjOªDLGHGªXQGLDSRUDPD
/HQRYHPEUHjOD&DWKpGUDOHGH-ROLHWWH
5HTXLHPGH%UDKPVDYHFODSDUWLFLSDWLRQVSpFLDOHGX&K¤XU6DLQW
/DXUHQWHWGHOD6LQIRQLDGH/DQDXGLqUH
/HPDUV
&21)e5(1&(*5$1'635,;'(/$&8/785(/$1$8',º5(
(QOH0XVpHGªDUWGH-ROLHWWHDGpFLGpGªRIIULUDX[JDJQDQWVGHV
*UDQGV SUL[ GH OD FXOWXUH /DQDXGLqUH GHV FDWpJRULHV 0pWLHUV GªDUW HW
$UWVYLVXHOVXQHFRQIpUHQFHDX0XVpH&HWWHLQLWLDWLYHDpWpLQDXJXUpHDYHF
OªDUWLVWH6WHSKHQ3RQODXUpDWGHODFDWpJRULH0pWLHUVGªDUW
/HHUPDLjOD&DWKpGUDOHGH-ROLHWWH
/HDYULO
352-(&7,21
9,6,7(69,3
&,1e5e3(572,5(
3RXUXQHGHX[LqPHDQQpHFRQVpFXWLYHHQFROODERUDWLRQDYHF&LQpUpSHUWRLUHGX
&pJHS UpJLRQDO GH /DQDXGLqUH j -ROLHWWH HW j OªRFFDVLRQ GH OªH[SRVLWLRQ *LVHOH
$PDQWHD%HDX[UrYHVGXUHVYpULWpVOH0$-DSUpVHQWpXQSURJUDPPHGRXEOH
SRXU VRXOLJQHU OD -RXUQpH GH OD IHPPH (Q SUHPLqUH SDUWLH 7KH .LQJ Y
3LFDULHOORDQG/DVVDQGURXQHYLGpRUpDOLVpHSDUOªDUWLVWH*LVHOH$PDQWHDHWHQ
GHX[LqPHSDUWLHXQHVXJJHVWLRQGHOªDUWLVWH$PUHHNDXQORQJPpWUDJHpFULW
HWUpDOLVpSDU&KHULHQ'DELV
/HPDUVDXFLQpPD&DUUHIRXUGH-ROLHWWH
/(&785(
92,;+$87(
'DQV OH FDGUH GH OD )UDQFRIrWH OH FROOHFWLI 9RL[ KDXWH SUpVHQWDLW DX
0$- XQH OHFWXUH GH/D PRQWDJQH VHFUqWH eFULW SDU *DEULHOOH 5R\ FH URPDQ
VHUDDGDSWpHWLQWHUSUpWpSDUOHVFRPpGLHQV0D[LPH$OODUGHW<DQQ3DUHQW/D
OHFWXUHpWDLWSUpFpGpHGªXQHSUpVHQWDWLRQGH&DWKHULQH'XERLVFRQVHUYDWULFH
jOªpGXFDWLRQDX0XVpHGªDUWGH-ROLHWWHVXUOHSHLQWUH5HQp5LFKDUG
/HPDUV
92<$*(6
086e('ª$57&217(0325$,1'(02175e$/
6RUWLHFXOWXUHOOHDX0XVpHGªDUWFRQWHPSRUDLQGH0RQWUpDOSRXUXQHYLVLWHGH
OªH[SRVLWLRQWHPSRUDLUH&ODXGH7RXVLJQDQW8QHUpWURVSHFWLYHHWSDUFRXUVGH
OªH[SRVLWLRQHQFRPSDJQLHGXFRPPLVVDLUH0DUN/DQFW{W
/HDYULO
086e('(6%($8;$576'(02175e$/
6RUWLHFXOWXUHOOHDX0XVpHGHVEHDX[DUWVGH0RQWUpDOSRXUXQHYLVLWHGH
OªH[SRVLWLRQWHPSRUDLUH9DQ'RJHQ8QIDXYHHQYLOOH
/HDYULO
*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQ
9LVLWHGHOªH[SRVLWLRQHQFRPSDJQLHGHOªDUWLVWHHWGXFRPPLVVDLUH'DYLG+DUULV
/HPDL
/HPRQGHjOªHQYHUV
9LVLWHGHOªH[SRVLWLRQHQFRPSDJQLHGXFRPPLVVDLUH5LFKDUG:LOOLDP+LOO
/HVHSWHPEUH
8QHDXWUHYLOOH
9LVLWHGHOªH[SRVLWLRQHQFRPSDJQLHGHVDUWLVWHV3DXOGH*X]PDQ<RVKLKLUR
6XGDHW0DVDVKL2JXUD
/HVHSWHPEUH
*LVHOH$PDQWHD%HDX[UrYHVGXUHVYpULWpV
9LVLWHGHOªH[SRVLWLRQHQFRPSDJQLHGHOªDUWLVWHHWGHODFRPPLVVDLUHGH
OªH[SRVLWLRQ(YH/\QH%HDXGU\
/HMDQYLHU
<DP/DXeORJHGHOªpYDQHVFHQFHOªHVSDFHOHWHPSVHWOªLPDJHGXTXRWLGLHQ
9LVLWHGHOªH[SRVLWLRQHQFRPSDJQLHGHOªDUWLVWHHWGHODFRPPLVVDLUHGH
OªH[SRVLWLRQ*DsWDQH9HUQD
/HMDQYLHU
/()(67,9$/'(3+272*5$3+,(6&217(0325$,1(6
'83$<6$*($8086e('ª$57'(-2/,(77(
OªRFFDVLRQGHVDVHFRQGHpGLWLRQOH)HVWLYDOGHSKRWRJUDSKLHVFRQWHPSRUDLQHV
GXSD\VDJHXQpYpQHPHQWRUJDQLVpSDUGHJUpVDGpFLGpGªRIIULUXQHVpULH
GHTXDWUHDWHOLHUVSUDWLTXHVDQLPpVSDUGHVDUWLVWHVSKRWRJUDSKHVGHUHQRP
'HQLV)DUOH\<DQ*LJXqUHePHOLH5RQGHDXHW*DERU6]LODVL/HWRXWVªHVW
WHUPLQpSDUXQHH[SRVLWLRQSUpVHQWpHDX0XVpHGªDUWGH-ROLHWWHHWLQWLWXOpH/H
SD\VDJHGHYDQWVRLTXLUHJURXSDLWOHV¤XYUHVGHVDUWLVWHVHWGHVSDUWLFLSDQWV
DX[DWHOLHUV/H)HVWLYDOGHSKRWRJUDSKLHVFRQWHPSRUDLQHVGXSD\VDJHYLVHDLQVL
jIDYRULVHUODUHFKHUFKHHWODFUpDWLRQUpJLRQDOHQDWLRQDOHHWLQWHUQDWLRQDOHHQ
SKRWRJUDSKLHVFRQWHPSRUDLQHVGXSD\VDJHHWjSURPRXYRLUOHXUGLIIXVLRQ
'XDXDRW
/(086e('ª$57'(-2/,(77(
$8)(67,9$/'(/$1$8',º5(
&20081,&$7,21
$ILQ GH IDFLOLWHU OªDFFqV DX[ DUWV YLVXHOV OH 0XVpH GªDUW GH -ROLHWWH D GpFLGp
GªRIIULUjODFOLHQWqOHGX)HVWLYDOGH/DQDXGLqUHOªRFFDVLRQGHGpFRXYULUOHWUDYDLO
GHOªDUWLVWH3HQHORSH6WHZDUW&HSURMHWKRUVOHVPXUVSUpVHQWpGDQVOHVHQWLHU
PHQDQWjOªDPSKLWKpkWUHGH/DQDXGLqUHDYDLWFRPPHREMHFWLIGHIDLUHFRQQDvWUH
OH0XVpHHWVDSURJUDPPDWLRQ$XVVLDSSX\pGX0XVpHHQ.LWXQUHSUpVHQWDQW
GX0$-pWDLWVXUSODFHOHVVRLUVGHFRQFHUWVDLQVLTXHORUVGHVVRLUpHVFLQpPD
DILQGªDVVXUHUODPpGLDWLRQGHOª¤XYUHHWGHUpSRQGUHDX[TXHVWLRQVGXSXEOLF
'XMXLOOHWDXDRW
&$57(/6e/$5*,6
7RXMRXUVVRXFLHX[GªRIIULUGHVVHUYLFHVVSpFLDOLVpVHWDGDSWpVjWRXVW\SHVGH
SXEOLFVOH6HUYLFHpGXFDWLISURGXLWGHSXLVOªDXWRPQHGHVFDUWHOVpODUJLV
&HV FDUWHOV VRQW HQ IDLW XQH UHSURGXFWLRQ JUDQG IRUPDW GHV YLJQHWWHV
GHVFULSWLYHV GHV ¤XYUHV DLQVL TXªXQH HVTXLVVH GH Oª¤XYUH /HV LQIRUPDWLRQV
GpFULWHV VXU QRV FDUWHOV SHXYHQW rWUH GH SHWLWH WDLOOH UHQGDQW OHXU OHFWXUH
GLIILFLOH$ILQGªHQIDFLOLWHUODOLVLELOLWpQRXVDYRQVHQWUHSULVFHWWHGpPDUFKHSRXU
VDWLVIDLUH OHV QRPEUHX[ YLVLWHXUV VRXIIUDQW GH GpILFLHQFHV YLVXHOOHV SUHVE\WLH
P\RSLHHWF/ªHQVHPEOHGHVFDUWHOVpODUJLVHVWUHJURXSpDXVHLQGªXQPrPH
GRFXPHQWHWPLVjODGLVSRVLWLRQGHVYLVLWHXUVGDQVOHVVDOOHVGªH[SRVLWLRQ&HWWH
LQLWLDWLYHFRQWULEXHDXUHQIRUFHPHQWGHODSROLWLTXHGªDFFHVVLELOLWpHWGªRXYHUWXUH
GX0$-HWGpPRQWUHOªLQWpUrWTXHQRXVSRUWRQVHQYHUVOHVYLVLWHXUV
'pYHORSSHPHQWGHVSXEOLFV
3DUWHQDULDWV
5HYXHGHSUHVVH
*DsWDQH9HUQDGLUHFWULFHJpQpUDOHGX0XVpHGªDUWGH-ROLHWWHORUVGHODUHPLVHGHVSUL[
GX*RXYHUQHXUJpQpUDOHQDUWVYLVXHOVHWHQDUWVPpGLDWLTXHV5LGHDX+DOO
%XUHDXGX*RXYHUQHXUJpQpUDO
'e9(/233(0(17'(638%/,&6
(Q SOXV GH GLVWULEXHU DX[ UpVLGDQWV GH -ROLHWWH ODLVVH]SDVVHU GH W\SH
IDPLOLDOHWGHGRQQHUXQOLEUHDFFqVDX[GpWHQWHXUVGHODFDUWHGHFLWR\HQGHODYLOOH
GH-ROLHWWHOH0XVpHGªDUWGH-ROLHWWHRIIUHGpVRUPDLVOHVMRXUVGHYHUQLVVDJHXQH
QDYHWWH JUDWXLWH HQWUH 0RQWUpDO HW OH 0XVpH 3URSRVpH DX[ DPDWHXUV GªDUW GX
*UDQG0RQWUpDOFHWWHQDYHWWHVHSUpVHQWHFRPPHXQPR\HQSRXUOH0XVpHGH
WLUHUSDUWLGHVDVLWXDWLRQJpRJUDSKLTXHHQOHXURIIUDQWODSRVVLELOLWpGHGpFRXYULU
OHV H[SRVLWLRQV HQ H[FOXVLYLWp $XJPHQWDQW HW GLYHUVLILDQW OD FOLHQWqOH
FRQVROLGDQW OD IUpTXHQWDWLRQ GX SXEOLF DFWXHO HW IDYRULVDQW OªDFKDODQGDJH GªXQ
WRXULVPH FXOWXUHO GDQV OD UpJLRQ GH /DQDXGLqUH OD QDYHWWH 0$- ([SUHVV HVW
UDSLGHPHQWGHYHQXHXQHVROXWLRQIDFLOHHWDFFHVVLEOHDILQGHSURILWHUGHVDUWVHW
GH OD FXOWXUH ODQDXGRLVH $YHF VL[ pGLWLRQV j VRQ DFWLI FH SURMHW D FUpp XQ
HQJRXHPHQW WHO TXH GHSXLV SOXV GªXQ DQ OD SRSXODULWp GHV YHUQLVVDJHV GX
0XVpH QH FHVVH GH FURvWUH HW FHWDQW DXSUqV GHVYLVLWHXUV GH OªH[WpULHXU GHV
PpGLDVTXHFHOOHGHODSRSXODWLRQORFDOH
3$57(1$5,$76
5(98('(35(66(
35(66(e&5,7(
$57,&/(6
0DUWKD/DQJIRUG*DERU6]LODVL8QFHUWDLQUHJDUG&LHOYDULDEOHQR3ULQWHPSVS
eOLVH*LJXqUH8QHWRXUQRLGHJROISRXUOH0XVpHGªDUW/ª$FWLRQPDUVS
eOLVH*LJXqUH/H&K¤XUGX0XVpHUHQGKRPPDJHDXSqUH/\QGVD\/ª$FWLRQPDUVS
eOLVH*LJXqUH/ªHPEDUUDVGXFKRL[SRXUODUHOkFKH/ª$FWLRQIpYULHUS
0DULHºYH&KDUURQ([SORUHUODVSKqUHGXTXRWLGLHQ/H'HYRLU&DKLHU(HWIpYULHUS
3DXO%HQQHWW/ªDQWUHIDQWDVWLTXHGª(G3LHQ/H'HYRLU&DKLHU)HWIpYULHUS
&KDQWDOePDUG3URJUDPPDWLRQGªDFWLYLWpVjOD%LEOLRWKqTXH5LQD/DVQLHU/ª$FWLRQ
eOLVH*LJXqUH/H0XVpHGªDUWGH-ROLHWWHLQDXJXUHFLQTQRXYHOOHVH[SRVLWLRQV/ª$FWLRQ
MDQYLHUS
&ROODERUDWHXU0XVpHV/H'HYRLU&DKLHU(HWMDQYLHUS
$\DQWjF¤XUOHGpYHORSSHPHQWGHVDUpJLRQHWWHQDQWFRPSWHGHOªLPSRUWDQFH
GXWRXULVPHFXOWXUHOOHUD\RQQHPHQWGX0$-VXUODVFqQHQDWLRQDOHHW
LQWHUQDWLRQDOHVªDFFRPSDJQHGªXQDQFUDJHWUqVSURIRQGGDQVODUpDOLWpFXOWXUHOOH
ODQDXGRLVH&RQVFLHQWTXHOHVXFFqVGHODUpJLRQSDVVHSDUXQWUDYDLOGH
FROODERUDWLRQOH0XVpHWUDYDLOOHUpJXOLqUHPHQWDYHFGHVDUWLVWHVHWGHV
RUJDQLVPHVGHODUpJLRQ4XHFHVRLWSDUODUpDOLVDWLRQG
H[SRVLWLRQVRXSDUOD
FUpDWLRQGHIRUIDLWVFHVSDUWHQDULDWVHWFHVFROODERUDWLRQVVRQWVDQVFHVVH
UHSHQVpVHWGpYHORSSpVGHODPDQLqUHODSOXVHIILFDFHSRVVLEOH/H0$-WHQWH
SDUFHVDFWLRQVFRQFHUWpHVG
DXJPHQWHUOHQRPEUHGHYLVLWHXUVPDLV
pJDOHPHQWGHIDLUHHQVRUWHTXHFHVYLVLWHXUVRSWLPLVHQWOHXUWHPSVGHVpMRXU
GDQVODUpJLRQSRXUGpFRXYULUODULFKHVVHFXOWXUHOOHGHFHWWHGHUQLqUH1RWUH
GpPDUFKHHVWPRWLYpHSDUO
HVSULWGHFRPPXQDXWpHWGHVROLGDULWpRFKDFXQ
GHSDUVRQH[SHUWLVHHWVHVDFWLRQVDSSRUWHXQHSOXVYDOXH3RXUO
DQQpH
OH0XVpHG
DUWGH-ROLHWWHDQRWDPPHQWFRPSWpFRPPHSDUWHQDLUHVOD
6RFLpWpGªKLVWRLUHGH-ROLHWWH'H/DQDXGLqUHOD%LEOLRWKqTXH5LQD/DVQLHUOH
FROOHFWLI 9RL[KDXWHOH&LQpUpSHUWRLUH&XOWXUH/DQDXGLqUHOH)HVWL*ODFHOH
)HVWLYDO0pPRLUHHW5DFLQHVOH)HVWLYDOGH/DQDXGLqUHOHV$WHOLHUVFRQYHUWLEOHV
GHJUpV)HVWLYDOGHSKRWRJUDSKLHVFRQWHPSRUDLQHVGXSD\VDJH
&ROODERUDWHXU'HV¤XYUHVGX0XVpHDXEXUHDXGHODGpSXWpH+LYRQ/ª$FWLRQMDQYLHUS
ePLOLH3HUUHDXOW(QYHUVHWFRQWUHWRXW/H9RLUQRYHPEUH
&ROODERUDWHXU,QLWLDWLRQjOªKLVWRLUHGHOªDUW/ª$FWLRQVHSWHPEUHS
&ROODERUDWHXU&XOWXUHjYRORQWpGDQV/DQDXGLqUHOHVHWVHSWHPEUH/ª$FWLRQ
VHSWHPEUHS
&ROODERUDWHXU/H&/'DSSXLHOH0XVpH/ª$FWLRQVHSWHPEUHS
'DQLqOH0LQ\8QHFRQFHQWUDWLRQGªDUWLVWHVGHWDOHQW/D5HYXH&DKLHU$VHSWHPEUHS
&ROODERUDWHXU0XVpHGªDUWOHHWRXUQRLEpQpILFHGHJROI>@/ª$FWLRQVHSWHPEUHS
-pU{PH'HOJDGR-HQHSUpWHQGDLVSDVrWUHXQJUDQGDUWLVWH/H'HYRLUHWQRYHPEUH
&DKLHU*S
&ROODERUDWHXU*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQ&LHOYDULDEOHQR$XWRPQH¥
+LYHUS
/DHWLWLD0LOLWDUX(ORFYHQWDFRWLGLDQXOXLFXDUWLVWXOIRWRJUDI*DERU6]LODVL=LJ=DJ$RWS
0DUWLQH%RXOLDQQH-ROLHWWHSRXUODPXVLTXHHWODQDWXUH/D3UHVVH&DKLHU9R\DJH
MXLQS
&ROODERUDWHXU&RORULHUVLPSOHPHQWJpDQWXQHSUHPLqUHHQ$PpULTXH/ª$FWLRQMXLQS
0DULR&ORXWLHU/H4XpEHFjOªDYDQWJDUGH/D3UHVVHMXLQ&DKLHU$UWVHW6SHFWDFOHVS
-HDQ)UDQoRLV1DGHDX*DERU6]LODVLOªLPSDWLHQW/H'HYRLUHWMXLQ&DKLHU(S
-RFHO\QH/HSDJH/HUHJDUGGH*DERU6]LODVL/D3UHVVHMXLQ&DKLHU$UWVHW6SHFWDFOHVS
-XOLH%pOLVOH&DELQHWVGHFXULRVLWpV'XPHUYHLOOHX[GHOªLQVROLWHGHODFRQWHPSODWLRQOD
UpVXUJHQFHGHOªLQWpUrWSRXUOHFDELQHWGHFXULRVLWpV(7&QR-XLQMXLOOHWHWDRWS
&ROODERUDWHXUVGH/ª$FWLRQ/HV¤XYUHVGH*DERU6]LODVLHW0DULH-RVpH/DIUDPERLVHDX0XVpH
WRXWOªpWp/ª$FWLRQPDLS
0HVVDJHUYROQR6HSWHPEUH
&DQDGLDQ$UW$XWRPQHSSHW
&ROODERUDWHXU&RORULHUVLPSOHPHQWJpDQW/ª$FWLRQPDLS
&ROODERUDWHXU/HV¤XYUHVGH*DERU6]LODVLHWGH0DULH-RVpH/DIUDPERLVHDX0XVpHWRXWOªpWp
/ª$FWLRQPDLS
0DUWLQH/HWDUWH0XVpHVHWSURPRWLRQODPLVHHQPDUFKpVHUDLWXQpOpPHQWHVVHQWLHOjOD
GpPRFUDWLVDWLRQ/H'HYRLUPDL&DKLHU*S
%ULJLWWH6DLQW3LHUUH/ªDUWFRQWHPSRUDLQSUHQGGªDVVDXWOHVUpJLRQVGX4XpEHF/H'HYRLU
&DKLHU*HWPDLS
&DQDGLDQ$UW$XWRPQHS
&LHO9DULDEOHQR$XWRPQH¥+LYHUS
&LHO9DULDEOHQR$XWRPQH¥+LYHUS
-pU{PH'HOJDGR(DX[WURXEOHVVDLVRQFDOPH/H'HYRLU&DKLHU(HWDRWSS
&ROODERUDWHXU0pPRLUHHW5DFLQHVLWLQpUDLUHDQVHQLPDJHV/ª$FWLRQHUMXLOOHWS
/DXULH*XLOOHPHWWH'pFRXYULUOH0XVpHDXWUHPHQW0XVH0DL¥-XLQSS
0DUWLQH%RXOLDQQH-ROLHWWHSRXUODPXVLTXHHWODQDWXUH/D3UHVVHMXLQ&DKLHU9R\DJHSS
&DUROLQH5RGJHUV0XVpHGªDUWGH-ROLHWWHHQOLFHSRXUOH*UDQG3UL[GXWRXULVPH/H'HYRLU
DYULO3RUWIROLR-ROLHWWHS
&ROODERUDWHXU8QJUDQGPpFqQHYLHQWGHQRXVTXLWWHU/D3UHVVHMXLQ&DKLHU9R\DJHS
&ROODERUDWHXU8QHFKDSHOOHGDQVODPLUHGHVGpPROLVVHXUV/ª$FWLRQMXLQS
-DFTXHV%HUQDUG5RXPDQHV/ª¤LOGXGpVLUGHOª¤LOSRUWUDLWGªXQSRUWUDLWLVWH9LHGHV$UWV
QReWpSS
&ROODERUDWHXU)HVWLYDO$OODUGSHUVRQQHVHWPpGDLOOHV/ª$FWLRQMXLQS
/H'HYRLU&DKLHU(HWMXLQS
/H'HYRLU&DKLHU(HWMXLQS
1LFRODV0DYULNDNLV8QpWpDX4XpEHF/H9RLUMXLQS
&ROODERUDWHXU8QHVRPPHGHUHPLVHjGHVRUJDQLVPHVODQDXGRLV/ª$FWLRQPDLS
&ROODERUDWHXU/H&K¤XUGX0XVpHGªDUWGH-ROLHWWHK{WHGX&K¤XU6DLQW/DXUHQW/ª$FWLRQ
PDLS
/ª$FWLRQPDLS
5HQp9LDX)UDQoRLV/DFDVVHODSHLQWXUHGpMRXpH9LHGHV$UWVQReWpSS
*pUDOGLQH=DFFDUGHOOL/HVGpWRXUVGHOªpWp9LHGHV$UWVeWpS
-RQDWKDQ1HZPDQ§$Q(QGXULQJ9LVLRQ¨§8QHYLVLRQLPPXDEOH¨9HUQLVVDJH0%$&eWpSS
*pUDOGLQH=DFFDUGHOOL9LHGHV$UWVQReWpS
&ROODERUDWHXU6XUOHZHE&RQWLQXLWpQR3ULQWHPSVS
/H'HYRLUHWPDL&DKLHU,S
/H'HYRLU&DKLHU%PDLS
0(17,216
/H9RLUPDLS
/H'HYRLU&DKLHU*HWPDLS
/ª$FWLRQPDUVS
/DXULH*XLOOHPHWWH'pFRXYULUOH0XVpHDXWUHPHQW0XVH9RO0DL¥-XLQS
/H'HYRLUHWPDUV&DKLHU(S
&,$&QRPDL
$UW)RUXP0DUVS
%HUQDUG/pY\3OHLQVIHX[VXUOHVGpWRXUVGHOªpWp9LHGHV$UWVQReWpS
/ª$FWLRQIpYULHUS
9LHGHV$UWVQReWpS
/ª$FWLRQIpYULHUS
9LHGHV$UWVQReWpS
/ª$FWLRQIpYULHUS
9LHGHV$UWVQReWpS
/ª$FWLRQIpYULHUS
9LHGHV$UWVOHVGpWRXUVGHOªpWpeWpS
/H'HYRLUHWIpYULHU&DKLHU(S
3UpIL[3KRWR9ROQReWpS
6RUWLUHQJURXSH)pYULHUS
&LHO9DULDEOHQReWpS
/H'HYRLUHWMDQYLHU&DKLHU(S
&ROODERUDWHXU/HV+XLWDUWVH[SRVHQWDX&HQWUH3LHUUH'HOFRXUW/ª$FWLRQDYULOS
/H9RLUMDQYLHUS
/RXLV&RUQHOOLHU-ROLHWWHHQYHGHWWH/ª$FWLRQDYULOS
&DQDGLDQ$UW+LYHUHQFDUW
/H'HYRLUDYULO&DKLHU(S
&ROODERUDWHXU'DYLG.5RVV(VVHQRYHPEUHS
-RXUQDOGH0RQWUpDODYULOS
/H'HYRLU&DKLHU*HWQRYHPEUHS
/H'HYRLU$JHQGDGXHUDYULODXPDUV
-pU{PH'HOJDGR$OIUHGR-DDUOªKRPPHGHOªDQWLILFWLRQ/H'HYRLU&DKLHU(HW
VHSWHPEUHS
/H9RLU$JHQGDGXHUDYULODXPDUV
'DQLqOH0LQ\8QHFRQFHQWUDWLRQGªDUWLVWHVGHWDOHQW/D5HYXHVHSWHPEUH&DKLHU$S
/H9RLUVHSWHPEUHS
/HJXLGH8O\VVH
%URFKXUHWRXULVWLTXHGH/DQDXGLqUH
%URFKXUHWRXULVWLTXHGHOD05&GH-ROLHWWH
/H9RLUVHSWHPEUHS
3URJUDPPHGX)HVWLYDO0pPRLUHHW5DFLQHV
$UW)RUXPVHSWHPEUHS
&ROODERUDWHXU3UpVHQWDWLRQGHODFRQIpUHQFHGX3qUH5HQp3DJHDXOHPDLGHUQLHU/H
3URJUDPPHGX)HVWLYDOGH/DQDXGLqUH
3URJUDPPHGX)HVWL*ODFH
(175(98(65(3257$*(6
5$',2
0)00DUV
(QWUHYXH UpDOLVpH DYHF *DsWDQH 9HUQD GLUHFWULFH JpQpUDOH GX 0XVpH GªDUW GH
-ROLHWWHHW&KDQWDO'HVFKDPSVPDLUHVVHGHODYLOOHGH5HSHQWLJQ\SUpIqWHGHOD
05&GH/ª$VVRPSWLRQHWSUpVLGHQWHGªKRQQHXUGXHWRXUQRLGHJROIDXSURILW
GX0XVpH
0)0OHIpYULHU
(QWUHYXHUpDOLVpHDYHF&DWKHULQH'XERLVFRQVHUYDWULFHjOªpGXFDWLRQDX0XVpH
GªDUWGH-ROLHWWHjSURSRVGHOªH[SRVLWLRQ0DXGH/pRQDUG&RQWDQW&RSLHUFROOHU
V\OYHVWUHGDQVOHFDGUHGHOªpPLVVLRQ/HVSªWLWVERQKHXUVDQLPpHSDU
0DULH-RVpH'HPHUV
5DGLR9LOOH0DULHOHHUIpYULHU
3URPRWLRQ OD SURJUDPPDWLRQ KLYHU GRQW OªH[SRVLWLRQ 0DXGH /pRQDUG
&RQWDQW &RSLHU FROOHU V\OYHVWUH HW OªpYpQHPHQW )HVWL*ODFH (QWUHYXH DYHF
/DXULH *XLOOHPHWWH UHVSRQVDEOH GHV FRPPXQLFDWLRQV HW (YH/\QH %HDXGU\
FRQVHUYDWULFH GH OªDUW FRQWHPSRUDLQ DX 0XVpH GªDUW GH -ROLHWWH SDU )UDQoRLV
%HDXUHJDUGMRXUQDOLVWHFXOWXUHO
3UHPLqUH&KDvQHGH5DGLR&DQDGDOHMDQYLHU
)UDQFLQH *ULPDOGL FKURQLTXHXVH FXOWXUHOOH j OªpPLVVLRQ 3RXUTXRL SDV
GLPDQFKH IDLW OD SURPRWLRQ GX YHUQLVVDJH DX 0XVpH GªDUW GH -ROLHWWH GH VD
SURJUDPPDWLRQHWGHVDQDYHWWH
&+24)0OHMDQYLHU
(QWUHYXHUpDOLVpHDYHF/DXULH*XLOOHPHWWHUHVSRQVDEOHGHVFRPPXQLFDWLRQVDX
0XVpHGªDUWGH -ROLHWWHjSURSRVGHODQDYHWWHHWGHODSURJUDPPDWLRQGªKLYHU
GDQV OH FDGUH GH OªpPLVVLRQ 8Q 6KRZ GH 0RWª$UWV DQLPpH SDU (ORL
'HVMDUGLQV
&,60)0OHMDQYLHU
(QWUHYXHUpDOLVpHDYHF/DXULH*XLOOHPHWWHUHVSRQVDEOHGHVFRPPXQLFDWLRQVGX
0XVpHGªDUWGH -ROLHWWHjSURSRVGHODQDYHWWHHWGHODSURJUDPPDWLRQGªKLYHU
GDQV OH FDGUH GH OªpPLVVLRQ 8Q 6KRZ GH 0RWª$UWV DQLPpH SDU (ORL
'HVMDUGLQV
5DGLR9LOOH0DULHOHMXLQ
3URPRWLRQGHOªH[SRVLWLRQ*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQ(QWUHYXHDYHF
OªDUWLVWHHWUpDOLVpHSDU)UDQoRLV%HDXUHJDUGMRXUQDOLVWHFXOWXUHO
3UHPLqUH&KDvQHGH5DGLR&DQDGDOHMXLQ
&RPSWHUHQGX GH OªH[SRVLWLRQ *DERU 6]LODVL /ªpORTXHQFH GX TXRWLGLHQ SDU
&DWKHULQH3HUULQFKURQLTXHXVHFXOWXUHOOHjOªpPLVVLRQ&ªHVWELHQPHLOOHXUOHPDWLQ
3UHPLqUH&KDvQHGH5DGLR&DQDGDOHMXLQ
&RPSWHUHQGX GH OªH[SRVLWLRQ *DERU 6]LODVL /ªpORTXHQFH GX TXRWLGLHQ SDU
1LFRODV0DYULNDNLVFKURQLTXHXUFXOWXUHOjOªpPLVVLRQ&KULVWLDQH&KDUUHWWH
3UHPLqUH&KDvQHGH5DGLR&DQDGDOHPDL
$QQRQFH GX YHUQLVVDJH GX 0XVpH GªDUW GH -ROLHWWH HW GH VD QDYHWWH OH 0$-
([SUHVVDX%XOOHWLQGHQRXYHOOHVGHK
3UHPLqUH&KDvQHGH5DGLR&DQDGDOHPDL
)UDQFLQH *ULPDOGL FKURQLTXHXVH FXOWXUHOOH j OªpPLVVLRQ 3RXUTXRL SDV
GLPDQFKH IDLW OD SURPRWLRQ GX YHUQLVVDJH DX 0XVpH GªDUW GH -ROLHWWH GH VD
QDYHWWHHWGHVDQRXYHOOHSURJUDPPDWLRQ
&+24)0OHPDL
-ROLHWWHjSURSRVGHODSURJUDPPDWLRQGªpWpGDQVOHFDGUHGHOªpPLVVLRQ
8Q6KRZGH0RWª$UWVDQLPpHSDU(ORL'HVMDUGLQV
&,60)0OHPDL
-ROLHWWHjSURSRVGHODSURJUDPPDWLRQGªpWpGDQVOHFDGUHGHOªpPLVVLRQ
8Q6KRZGH0RWª$UWVDQLPpHSDU(ORL'HVMDUGLQV
5DGLR9LOOH0DULHOHPDL
(QWUHYXHUpDOLVpHDYHF/DXULH*XLOOHPHWWHUHVSRQVDEOHGHVFRPPXQLFDWLRQVDX
0XVpH GªDUW GH -ROLHWWH j SURSRV GX 0XVpH HW GH VD SURJUDPPDWLRQ GªpWp
(QWUHYXHUpDOLVpHSDUOªDQLPDWHXU-DFTXHV+RXGHSRXUOH5DGLR'RQ
)0OHDYULO
(QWUHYXH UpDOLVpH DYHF 0DULH(YH %HDXSUp FRPPLVVDLUH GH OªH[SRVLWLRQ
)UDQoRLV /DFDVVH /HV GpYHUVHPHQWV j OªpPLVVLRQ /HV SªWLWV ERQKHXUV GH
0DULH-R
7e/e
&75%¥79&¥%HUWKLHUYLOOH0DUV
-ROLHWWHHW&KDQWDO'HVFKDPSVPDLUHVVHGHODYLOOHGH5HSHQWLJQ\SUpIqWHGHOD
05&GH/ª$VVRPSWLRQHWSUpVLGHQWHGªKRQQHXUGXHWRXUQRLGHJROIDXSURILW
GX0XVpH
7pOp4XpEHFGXDXGpFHPEUH
&DSWDWLRQGHOªH[SRVLWLRQ/HPRQGHjOªHQYHUVSUpVHQWpHSRXUOHVFDSVXOHV
3UrWjVRUWLUeJDOHPHQWGLVSRQLEOHDXKWWSSUHWDVRUWLUWHOHTXHEHFWY
7pOp4XpEHFGXDXMXLQ
&DSWDWLRQGHOªH[SRVLWLRQ0DULH-RVpH/DIUDPERLVH(QVHPEOHVUpWLFXODLUHV
SUpVHQWpHSRXUOHVFDSVXOHV3UrWjVRUWLU
7pOpYLVLRQGH5DGLR&DQDGDOHPDL
,PDJHVGHOªH[SRVLWLRQ*DERU6]LODVL/ªpORTXHQFHGXTXRWLGLHQDX%XOOHWLQGH
QRXYHOOHVGHK
+RXU
ZZZKRXUFD
/DQDXWRXULVPH
ZZZODQDXGLHUHFD
92;/DQDXGLqUHOHDYULO
(QWUHYXHDYHFODFRPPLVVDLUH0DULH(YH%HDXSUpjOªpPLVVLRQFXOWXUHOOH
'ª$UWHQ$UW
7pOp4XpEHFGXDXDYULOGLIIXVLRQV
6XUYROGHOªH[SRVLWLRQ)UDQoRLV/DFDVVH/HVGpYHUVHPHQWVHWHQWUHYXHVDYHF
0DULH(YH%HDXSUpFRPPLVVDLUHGHOªH[SRVLWLRQHW*DsWDQH9HUQDGLUHFWULFH
JpQpUDOHGX0XVpHGªDUWGH-ROLHWWH&DSVXOHVSUpVHQWpHVjOªpPLVVLRQ
3UrWjVRUWLUeJDOHPHQWGLVSRQLEOHDXKWWSSUHWDVRUWLUWHOHTXHEHFWY
:(%
/ª$FWLRQ
ZZZODFWLRQFRP
5DWVGHYLOOH
ZZZUDWVGHYLOOHW\SHSDGFRP
/$0,&
ZZZODPLFLODYDOFD
5pVHDXHQDUWDFWXHO
ZZZUFDDTRUJ
6RFLpWpGHVPXVpHVTXpEpFRLV
KWWSZZZVPTTFFD
/H'HYRLU
ZZZOHGHYRLUFRP
7pOp4XpEHF
ZZZSUHWDVRUWLUWHOHTXHEHFWY
/HVDUFKLYHVjOªDIILFKH
ZZZDUFKLYHVDIILFKHVZRUGSUHVVFRP
/HVHOOHVGHODFXOWXUH
ZZZOHVHOOHVGHODFXOWXUHFRP
/HV-RXUQpHVGHODFXOWXUH
ZZZMRXUQHHVGHODFXOWXUHTFFD
0&3&&0&3
PFSFEHDX[DUWVFD
(QSOXVGHVQRPEUHX[DUWLFOHVGHODSUHVVHpFULWHGLVSRQLEOHVVXU,QWHUQHWOD
SURJUDPPDWLRQHWOHVDFWLYLWpVGX0XVpHGªDUWGH-ROLHWWHRQWpJDOHPHQWpWp
GLIIXVpHVVXUGHQRPEUHX[SRUWDLOVHQ
1RXVUHWURXYRQVQRWDPPHQW
&XOWXUH/DQDXGLqUH
$UWHIDNV
KWWSZZZFXOWXUHODQDXGLqUHTFFD
KWWSZZZDUWHIDNVFRP
&DQDGLDQ$UW
&XOWXUHSRXUWRXV
KWWSZZZFDQDGLDQDUWFD
KWWSZZZFXOWXUHSRXUWRXVFD
&HQWUHFXOWXUHOGH-ROLHWWH
&\EHUPXVH
KWWSZZZFFXOWMROLHWWHTFFD
ZZZF\EHUPXVHJDOOHU\FD
/H&LWR\HQ
&\EHUSUHVVH
KWWSZZZYLOOHMROLHWWHTFFD
KWWSZZZF\EHUSUHVVHFD
&RQQH[LRQ/DQDXGLqUH
(YHQWIXO
KWWSZZZFRQQH[LRQODQDXGLqUHFD
KWWSZZZHYHQWIXOFRP
&RXSGH3RXFH
*UDILND
KWWSZZZFRXSGHSRXFHFRP
KWWSZZZJUDILNDFRP
5DGLR&DQDGD
KWWSZZZUDGLRFDQDGDFD
0XVpHVjGpFRXYULU
ZZZPXVHHVTXHEHFPXVHXP
2WWDZD;SUHVV
ZZZRWWDZD[SUHVVFD
3ODFHDX[MHXQHV
ZZZSODFHDX[MHXQHVTFFD
3ODQqWH4XpEHF
ZZZSODQHWHTFFD
7KH:HVWPRXQW([DPLQHU
ZZZZHVWPRXQWH[DPLQHUFRP
746
ZZZWTVFD
9RLU
ZZZYRLUFD
81(4
ZZZXQHTSFFD
9LUWXDO0XVHXP&DQDGD
ZZZYLUWXDOPXVHXPFD
9R[3KRWR
ZZZYR[SKRWRFRP
98
ZZZPHGXVHRUJ
'e9(/233(0(17(7),1$1&(0(17
/H 0XVpH GªDUW GH -ROLHWWH VH WURXYH DFWXHOOHPHQW j XQ PRPHQW GH VRQ
H[LVWHQFH R LO GRLW SRXU DVVXUHU VD SpUHQQLWp HW FRQWLQXHU j VH GpYHORSSHU
VDLQHPHQWDXJPHQWHUVHVUHYHQXVDXWRQRPHV3RXUDWWHLQGUHVHVREMHFWLIVOH
0XVpHDGRQFDXFRXUVGHODGHUQLqUHDQQpHWUDYDLOOpGHSDLUDYHFOH&/'GH
-ROLHWWH HW UHWHQX OHV VHUYLFHV GH 0PH <YHWWH *KDWWDV SRXU O
DLGHU GDQV VHV
GpPDUFKHVHWFRQVWUXLUHXQSODQVWUDWpJLTXHGDQVODUHFKHUFKHGHILQDQFHPHQW
'HSXLV OH 0XVpH GªDUW GH -ROLHWWH D VX VH PRQWUHU SDUWLFXOLqUHPHQW
HIILFDFH GDQV OD JHVWLRQ GH VHV EXGJHWV HW D VX RSWLPLVHU GH PDQLqUH
FRQVLGpUDEOHVHVFDSDFLWpVILQDQFLqUHVHQGLYHUVLILDQWVHVUHYHQXVDXWRQRPHV
(QHIIHWDXFRXUVGHODGHUQLqUHDQQpHOHEXGJHWJOREDOGX0XVpHHVWSDVVpj
PLOOLRQV GH GROODUV OHV UHYHQXV JpQpUpV SDU OH SURJUDPPH GH
PHPEHUVKLSDFRQQXXQHDXJPHQWDWLRQGHHWOHWRXUQRLGHJROIEpQpILFH
DXUDSHUPLVjOªLQVWLWXWLRQGªDPDVVHUSRXUVRXWHQLUVHVSURJUDPPHV
GªH[SRVLWLRQ HW GªpGXFDWLRQ DXSUqV GHV MHXQHV GH OD UpJLRQ GH /DQDXGLqUH
1pDQPRLQV IRUFH HVW GªDGPHWWUH TXH VD PDUJH GH PDQ¤XYUHV VWDJQH HW
HPSrFKHOªLQVWLWXWLRQGHFRQWLQXHUjDOOHUGHOªDYDQW,OHVWWHPSVSRXUOH0$-
GH PHWWUH HQ SODFH OHV VWUDWpJLHV SRXYDQW GRQQHU OLHX j GHV GRQV HW GHV
FRPPDQGLWHVPDMHXUHVHWUpFXUUHQWHV
$X FRXUVGHLOD GRQFPLVVXUSLHGXQ FRPLWp GHGpYHORSSHPHQW
SXLVHQLOHPEDXFKHUDXQGLUHFWHXUGHGpYHORSSHPHQWTXLOXLSHUPHWWUD
QRWDPPHQW GªHIIHFWXHU GHV VXLYLV VRXWHQXV DXSUqV GH GRQDWHXUV PDMHXUV
SRWHQWLHOV
+200$*( 126%,(1)$,7(856
'RQDWHXUV
&RPPDQGLWDLUHV
3DUWHQDLUHV
0HPEUHV
$FWLYLWpVGHILQDQFHPHQW
'HJDXFKHjGURLWH$QDQG6ZDPLQDGDQYLFHSUpVLGHQWGX0$-HWRUJDQLVDWHXUGXWRXUQRL
5HQp/DXULQPDLUHGH-ROLHWWH<YDQ*XLEDXOWSUpVLGHQWGX0$-'HEELH6PLWK0pODQLH/DSODQWH
GH0pD&RQVHLOV,PPRELOLHUHWSUpVLGHQWHGªKRQQHXUGXWRXUQRL1DWKDOLH&KDPSDJQHGLUHFWULFH
JpQpUDOHGHV*DOHULHV-ROLHWWH3DXO%XWWRQYLFHSUpVLGHQWGH%HDXZDUGHW*DsWDQH9HUQD
GLUHFWULFHJpQpUDOHGX0$-
'21$7(856
/H0XVpHGªDUWGH-ROLHWWHVRXKDLWHVRXOLJQHUO
DSSRUWHVVHQWLHOGHVLQGLYLGXV
GHVVRFLpWpVHWGHVIRQGDWLRQVSRXUOHXUFRQWULEXWLRQjO
HVVRUGHOªLQVWLWXWLRQ
6DQVYRWUHJpQpURVLWpHWYRWUHDSSXLOH0XVpHQHVDXUDLWSRXUVXLYUHVRQ
GpYHORSSHPHQW8QJUDQGPHUFLjWRXV
*DsWDQH9HUQDGLUHFWULFHJpQpUDOH
'RQVLQGLYLGXHOV
1 000 $ et plus
6KD\QH'DUN
3DWULFH'URXLQ
)UDQoRLV/DFDVVH
9LUJLQLD/H0R\QH
*X\0ROLQDUL
$QD5HZDNRZLF]
6XFFHVVLRQ-HDQ&\SLKRW
500 $ et plus
%HUQDUG/DPDUUH
250 $ et plus
1DWKDOLH$OODUG
-HDQ-DFTXHV'HVMDUGLQV
'RQQD-RKQVRQ
1DWDOLH0F1HLO
3LHUUH3RXOLQ
0DULH5RXVVLQ9DQDVVH 100 $ et plus
$QQD$VLPDNRSXORV
+pOqQH%ORQGLQ
&ODLUH&RPWRLV
$ULDQH'H%ORLV
5HQp/DXULQ
8OULF/DXULQ
-XOLHW/RHZHQKHLP:DLW
*DsWDQH9HUQD
Moins de 100 $
'HQLV$UFKDPEDXOW
'DQLHOOH%DUUHWWH
.DULQH(PPDQXHOOH%RLVYHUW
(PPDQXHOOH%ULqUH
'DQLHO*UpJRLUH
+XJXHWWH/DFRXUVLqUH
&ODXGH/DIUHQLqUH
'LDQH1LFROHWWL
0DKDOLD9HUQD
3LHUUH9LQFHQW
'RQVGªHQWUHSULVHV
(/3&LQF
5R\HW/DSRUWHDYRFDWV
7HNND6XVKL
:RPHQ&DQDGLDQ&OXERI0RQWUHDO
'RQVSRXUOH&HUFOHGXSqUH&RUEHLO
$QRQ\PH
&KULVWLDQH%UD]HDX
&DXFXVGX3DUWLTXpEpFRLVGH/DQDXGLqUH
0LFKHO&RUEHLO
-HDQ&\SLKRW
0LFKHO'LRQQH
7KpUqVH)DIDUG
/XF)RLV\
%HUWUDQG/DIHUULqUH
)UDQoRLV/DQRXH
5D\PRQG/DSLHUUH
/XF/LDUG
-HDQQH%0DWWH
0XQLFLSDOLWp6DLQW&KDUOHV%RUURPpH
1LFROHHW'LDQH1LFROHWWL
eGLWK3D\HWWH
3RZHU&RUSRUDWLRQ
3LHUUH9LQFHQW
'RQVGHIRQGDWLRQV
)RQGDWLRQ-$'H6qYH
)RQGDWLRQ3LHUUH'HVPDUDLV%HOYpGqUH
)RQGDWLRQ5HQp0DOR
'RQV,Q0HPRULDP
'RQVjODPpPRLUHGHSqUH$QGUp%ULHQFVY
&ODXGH%R\HU
3LHUUH9LQFHQW
&200$1',7$,5(6
*HVWLRQ'**XLEDXOW/WpH
&RUSRUDWLRQGHO
$PpQDJHPHQWGHOD
5LYLqUHO
$VVRPSWLRQ
&,%&
'XPRXOLQ
*URXSH*DXGUHDXOWLQF
+\GUR4XpEHF
,PSULPHULH/DQFW{W
/ªeSLJUDSKH
/LDUG&RQVWUXFWLRQLQF
/LDUG,QGXVWULHVLQF
3DFDUW
6\OYDLQ%HDXVpMRXU
&KkWHDX-ROLHWWH
063HLQWXUH
3$57(1$,5(6
&HQWUHORFDOGHGpYHORSSHPHQW-ROLHWWH
&RQVHLOGHV$UWVGX&DQDGD
(PSORL4XpEHF
/RLVLUHW6SRUW/DQDXGLqUH
0LQLVWqUHGHOD&XOWXUHGHV&RPPXQLFDWLRQVHWGHOD&RQGLWLRQIpPLQLQHGX4XpEHF
05&GH-ROLHWWH
3DWULPRLQHFDQDGLHQ
3URJUDPPHG
DLGHDX[PXVpHV
3URJUDPPH-HXQHVVH&DQDGDDX7UDYDLO
9LOOHGH-ROLHWWH
0(0%5(6
0HPEUHVKRQRUDLUHV
0DULH*DJQRQ
5HQp0DOR
0HPEUHVFRUSRUDWLIV
0LFKHO&KDPSDJQH¥
([SHUWLVHHQEkWLPHQWV
*DOHULH6LPRQ%ODLV
0HPEUHVjYLH
-HDQ$OODLUH
)UDQoRLV$QJHUV 0DUWKH$UVHQHDXOW
$QGUp$VVHOLQ )UDQFH$XEULRW
0LFKHO$XEULRW
0DUFHO%DUEHDX 0DUFHO%HDXOLHX 5HQp%HDXUHJDUG
-HDQ)UDQoRLV%RLVYHUW
'DYLG0+HFWRU %HUQDUG+pWX
)HUQDQG+pWX -HDQ*X\+pWX
/RXLV3KLOLSSH+pWX
-HDQ3LHUUH+RJXH
+RQRUDEOH6HUJH-R\DO
FSRFVpQDWHXU
)HUQDQG-R\DO &KDQWDO/DEHUJH &ODXGH/DEHUJH 3LHUUH/DEHUJH 0DUFHO/DFHUWH /XF/DQGUHYLOOH ,YDQ/DQGU\
5D\PRQG/DSLHUUH
0DUFHOOH/DSRUWH /XF/D5RFKHOOH 'HQLVH/DWHQGUHVVH/RZHU
8OULF/DXULQ
$QGUp/DX]RQ $GULHQ/RLVHDX 3DXO0DLOKRW
$QGUp0DOR
3DXO0DOR
/pYLV0DUWLQ
0DUFHO0DVVH $JDWKH0DVVp%HWWLQJHU 5RQDOG:0F.LOOLFDQ
0DULR0HUROD
*X\0HXQLHU
3LHUUHWWH0RQGRU
-HDQQLQH0XQQ6\OYHVWUH -HDQ3DULVHDX
/RXLVH3DULVHDX 3DXO5HQp3DULVHDX
5RJHU3DX]p
0LFKHO$3pORTXLQ
0LFKHO3HUURQ 5REHUW3LFDUG $OEHUW3LHWWH
'DQLHOOH3LORQ *HRUJHV3LORQ *pUDUG%ROGXF *pUDUG%RQLQ
6WDQOH\%RUHQVWHLQ
$QGUp%RXUTXH &ODXGH%R\HU
-DFTXHOLQH%ULHQ
&RQUDG%URXLOOHW -/DXUHQW&DUGLQ
<YHV&KDPEHUODQG
0LFKHO&KDPSDJQH
3LHUUH&KDUERQQHDX
&KDPSODLQ&KDUHVW
ePLOH&RODV
0LFKHO&RUEHLO %HQRvW&{Wp
*X\&RXWX
0DULR&RXWX
5'DLJQHDXOW
3DXO'DYLG
*HRUJHV'HOUXH
0DUFHO'HVFKrQHV
5HQp'HVSUpV +HQUL'HVURVLHUV
+pOqQH'LRQQH 0DUFHOOH'LRQQH 0LFKHO'LRQQH 3LHUUH<YHV'LRQQH
3DWULFH'URXLQ
5RODQG'XEHDX
<YHV'XJDV
6RKHLO(LG
+DUYH\$(YDQV
0LFKHO)HUODQG /XFePLOH)RLV\ 0DXULFH)RUJHW -+'HQLV*DJQRQ
-DFTXHV0*DJQRQ
9LFWRU*KREULO &ROHWWH*RJXHQ %HUQDUG*R\HW -DPHV$*UDQW
'0+DUZRRG
-HDQ3LQDUG
-DFTXHOLQH3RLULHU
-DFTXHV3RXOLQ
-HDQ5LYHVW
&KDUOHV5RELOODUG
$ODLQ5ROODQG
*HRUJH-5RVHQJDUWHQ
*HRUJHV5R\
6WpSKDQH6DLQWRQJH
*$6DQVUHJUHW
0DUFLD6FKDHIHU 0DUN6FKZDUW] (GZDUG6KRUH 6WpQR3OXV
/HVOLH6WHYHQVHQ
'DYLG06WHZDUW
$QDQG6ZDPLQDGKDQ
0L\XNL7DQREH -DFTXHV7RXSLQ 0DUFHO7UHPEOD\ 5LFKDUG7UHPEOD\
$QGUpH7UXGHDX 3DXO7XUJHRQ
$QQH0DULH9DOHQWLQ
-HDQ3LHUUH9DOHQWLQ
/XFLH9DU\
%LOO9D]DQ
3LHUUH9LQFHQW
&pFLOH&RXUFKHVQH
'LDQH&RXWX
)UDQoRLV'DQLV $ULDQH'H%ORLV /DXUHQW'HEORLV 0LFKHO'HEORLV )HUQDQG'HVELHQV
*DEULHOOH'HVFKDPSV
'HQLVH'HVMDUGLQV
-DFTXHV'HVMDUGLQV
6X]DQQH'HVPDUDLV/DXULQ
5REHUW'HVURVLHUV
+pOqQH'LJXLHU 'RPLQLTXH'R\OH
/RXLVHWWH'XPRQWLHU
0LFKHO'XSRQW+pEHUW
eULF'XSXLV
/DXULDQH'XSXLV 1RUDK'XSXLV &DUROHeWKLHU
.DHODeWKLHU%HUJHURQ
9LQFHQWeWKLHU%HUJHURQ
7KpUqVH)DIDUG
/LVH)DUOH\
'LDQH)HUODQG
/XF)RLV\
-DFTXHV)RXUQLHU
'RPLQLF*DJQRQ -HDQ3LHUUH*DJQRQ
1DQF\*DJQRQ 0HPEUHV
,VDEHOOH*DUHDX FRXSOHIDPLOOH
$OLFH*HRIIUR\ 5D\PRQG*HUYDLV
6LPRQH%HDXFKHPLQ
<YDQ*XLEDXOW &ODXGH%HDXGU\ *LVqOH/ªeSLFLHU -HDQQHWWH%HDXVpMRXU
'HQLVH%pODQJHU/HEODQF %HUWUDQG/DIHUULqUH
-HDQ)UDQoRLV%HUJHURQ 3LHUUH/DIODPPH ,UqQH/DIOHXU
0LFKqOH%HUJHURQ
3LHUUH/DIOHXU
'HQLV%pUXEp
5HQp/DXULQ
6WpSKDQLH%RLVMRO\
.DULQH(PPDQXHOOH%RLVYHUW 0DUFHO/HEODQF &KULVWLDQ/HFOHUF
-DFTXHV%RXUJHDXOW
/pRQDUG/HFOHUF -HDQ&ODXGH&{Wp
/RXLVH/HIHEYUH
*DEULHO/HIHEYUH5RSDUV
1DGLQH/pRQDUG /\QD/HSDJH
$JQqV/pYHLOOp 0RQLTXH/pYHVTXH
/XF/LDUG
/XFH/RQJSUp /RXLVH0DOR
5DOSK30DUFRQL
0LFKHOLQH0DURLV 0RQLTXH0DUWLQ6DUUD]LQ
0DVVLPLOLDQR0XORQH
&ODUD*3DTXHWWH
3LHUUH3DTXHWWH 7KRPDV*3DTXHWWH
$QQHeOLVDEHWK3DUp
)ORUHQFH3DUp $OLQH3D\HWWH
&OpPHQW3D\HWWH eGLWK3D\HWWH
-XVWLQ5HQDXG3D\HWWH
0DUFHO3D\HWWH 0DULH-RVpH3HUUHDXOW
3LHUUH4XHYLOORQ *LQHWWH5DFLQH 3DWULFN5RSDUV 0DULH5RXVVLQ -HDQ*X\5R\
/LVH6DUUD]LQ
0LFKHOLQH6HQpFDO
5RODQG6LPRQHDX
&RUDOLH6W$QGUp 0DUWLQ6W$QGUp &ODXGH6W&\U 5REHUW6W2QJH 0RQLTXH6\OYHVWUH
6X]DQQH6\OYHVWUH/DIHUULqUH
-RFHO\QH7UHPEOD\
/DXUHQW'DYLG7UHPEOD\
0DWKLHX7UHPEOD\
5HQDXG7UHPEOD\
0DUF9DQDVVH &ODUD$OLFLD9HUQD
0DKDOLD9HUQD *LOOHV0DWKLHX9LQFHQW
&ODXGLQH:LOVRQ
'DQLHOOH'DXSKLQ
&DPLOOH'HQLV
-DFTXHOLQH'HVURFKHV
0DULH+pOqQH'HVURVLHUV
0LFKqOH'URXLQ 0DUFHO'XFKDUPH
0HPEUHVLQGLYLGXHOV
eODLQH)DIDUG0DUFRQL
-HQQLIHU)DIDUG0DUFRQL
<YHV$ODYR
0LFKHOLQH)RUJHW $OLFH$P\RW
0RQLTXH)RUJXHV
'HQLV$UFKDPEDXOW
-pU{PH)RUWLQ 1LFROH$UFKDPEDXOW
/pGD)RXUQLHU 'DQLHOOH%DUUHWWH -HDQ*X\)UDQFRHXU
*LQHWWH%HDXVROHLO
*LOOHV*RGPHU
&ODLUH%pODQG
'DQLHO*UpJRLUH
-XOLH%pOLVOH
*LQHWWH*UpJRLUH 6\OYLH%HOOHPDUH /RXLV*U\SLQLFK
/RXLVH%HOOHURVH %UXQR+pEHUW *X\%HOOHYLOOH
-HDQQH0DQFH+pEHUW'XIDX[
$ODLQ%HUJPDQV &DUROLQH+RXGH
%HUWUDQGH%HUWUDQG
-DFTXHV+RXGH &ODLUH%HUWUDQG %HUQDUG+RXOH /LVH%pUXEp
0DULH3DXOH%LORGHDX0DORXLQ *KLVODLQH-HWWp <YDQ-RO\
$QWRLQH%ODQFKHWWH
.DWKOHHQ-RQHV +pOqQH%ORQGLQ -RKDQQH/DFKDQFH
-HDQ0DUF%RXFKDUG
0DJDOLH%RXWKLOOLHU
+XJXHWWH/DFRXUVLqUH
/DXULHU/DFURL[
*LQHWWH%RXWLQ &KULVWLDQH%UD]HDX
)UDQoRLVH/DIHUULqUH
&ODXGHWWH%UD]HDX
3LHUUH/DIRUWXQH &ODXGH/DIUHQLqUH
6X]DQQH%UD]HDX
3LHUUHWWH/DIUHQLqUH
-HDQ*X\%ULHQ 0DUWKH/DMRLH (PPDQXHOOH%ULqUH
0DULH$OLFH%ULHUUH
%HUQDUG/DPDUUH
$UNDGL/DYRLH/DFKDSHOOH
3LHUUH&DQHVVD &ODXGH/HIUDQoRLV
1RsOOLQH&KDUHVW 'DQLHOOH&KHYDOLHU
'HQLV/RQJFKDPSV
5RVH$LPpH&KHYDOLHU 'LDQH0DOR
-HDQ0DOR
0DU\VH&KHYUHWWH
/LHWWH0DULRQ
*LQHWWH&OpPHQW +pOqQH0DVVp
&ODLUH&RPWRLV
/RUUDLQH&RXWX 0DULH3LD0DVVH
-HDQQH%0DWWH
3KLOLSSH'DOSKRQG
$QQH0DULH0RULQ
/LVH2XHOOHW
*DpWDQH/3DUp
6\OYDLQ3DUp
&ODXGH3DUHQW
0DULH$JQqV3DUHQW
1RUPDQG3DULVLHQ
-pU{PH3D\HWWH $OH[DQGUD3HUUHDXOW
0HPEUHVGpVLJQpV
0LFKHO3HUUHDXOW 6RODQLH$QQ3LFDUG7XUFRW
)UDQFLQH3LFKp $OH[DQGUHeULF3LHWWH
1LFROH5RFKRQ +pOqQH5R\
&DQGLGH6LPDUG &ODLUH6W$XELQ 9DOpULH9LQFHQW -XOLHW:DLW
&pOLQH*HRIIUR\¥
05&GH-ROLHWWH
-DFTXHV+RXOHFVY¥
&OHUFVGH6DLQW9LDWHXU
'LDQH1LFROHWWL¥
9LOOHGH-ROLHWWH
+RPPDJHSDUWLFXOLHUDX[PHPEUHVTXLQRXVRQWTXLWWpVHQ
0DULR%HQQ\
3DXO%LJXp
7KpRSKLOH%RXUERQQDLVFVY
0DGHOHLQH5%R\HU
$QGUp%ULHQFVY
+pOqQH&{Wp
-HDQ&\SLKRW
)HUQDQG*UpJRLUH
$EEp)UDQoRLV/DQRXH
0DUFHO0DJQDQ
*UpJRLUH3HUUHDXOW
$&7,9,7e6'(),1$1&(0(17
7RXUQRLGHJROI
&OXEGHJROIGH-ROLHWWH
DRW
&RPLWpRUJDQLVDWHXU
5(63216$%/(
$QDQG6ZDPLQDGKDQ
35e6,'(17('ª+211(85
0pODQLH/DSODQWH
$QGUp%ULHQ
<YDQ*XLEDXOW
-DFTXHV+RXGH
-HDQQH%0DWWH
-HDQ)UDQoRLV%HUJHURQ
%LHQIDLWHXUV
$VVXUDQFHV%R\HU7HVVLHULQF
$XWRPRELOHV5pMHDQ/DSRUWH
-DFTXHV%DULEHDX
%HUQDUG0DORLQF
%RXFKHU&KDPSDQJH7KLIIDXOWVHQFUO
-HDQ3LHUUH%RXFKHU
0LFKHO&RUEHLO
'DXSKLQ0XOWL6HUYLFHV
*URXSH*DXGUHDXOW
&KDQWDO*DVFRQ
,PSULPHULH/DQFW{W
-30DOOHWWHDVVRFLpVLQF
/LEUDLULH5HQp0DUWLQ
-DFTXHV0DUWLQ
5HQp0DUWLQ
0pFDQLFDLULQF
0XOWL0RGqOHV0DUWLQ*DXGHWLQF
3ODFHGX&HQWUH
3QHXV0DUFKDQG
3RPHUOHDX
3LHUUH9LQFHQW
3DUWLFLSDQWVGXWRXUQRL
$TXDWHFK
%pODQJHU6DXYp
&DELQHWGHSODQLILFDWLRQHWVHUYLFHV
ILQDQFLHUV%HUQDUG5RELWDLOOH
&HQWUHVGªDFKDWV%HDXZDUG/WpH
&RPPLVVLRQVFRODLUHGHV6DPDUHV
'DZFROHFWULF
/D'LVWLQFWLRQ
'XQWRQ5DLQYLOOH
/HV(QWUHSULVHV&KLVWLDQ$UERXU
(QYLUR6HUYLFHV
eWDOH[
*pOLQDV/LDUGH[SHUWVFRQVHLOVLQF
*pRSROLV
*URXSH'HVSUpV
+\GUR4XpEHF
/LDUG,QGXVWULHVLQF
0pD&RQVHLO,PPRELOLHULQF
0XOWL0RGqOHV0DUWLQ*DXGHWLQF
0XQLFLSDOLWpGH6DLQW&KDUOHV
%RUURPpH
125',.HDXLQF
2PHU/DQGUHYLOOH
30(LQWHUQRWDLUHV
5D\PRQG&KDERWLQF
7UDQVFRQWLQHQWDO
/D7XUTXRLVH
%HUQDUG%pODLU
'RPLQLF%HOOHYLOOH
$UPDQG%UDQFKDXG
&KULVWLDQH%UD]HDX
/XFLH%ULHQ
0LFKHO&RUEHLO
0DULH3LHU'HVPDUFKDLV
)UDQoRLV'HVURFKHUV
0LFKHO'LRQQH
0DUWLQH'RXFHW
$QGUpH'XSXLV
0LFKHOLQH)RUJHW
0DQRQ*DGRXU\
/XFHWWH*DJQp
<YDQ*XLEDXOW
9pURQLTXH+LYRQ
0DUWKH/DMRLH
&ODLUH/DPEHUW
5pMHDQ/DSRUWH
*DE\/DUULYpH
)UDQFLQH/DXULQ
<YRQ/HVVDUG
$OH[DQGUH0DUWHO
&ODXGH0LFKDXG
3LHUUH0RULQ
0DULH)UDQFH2VWLJX\
$OEHUW3LHWWH
'DQLHOOH3LHWWH
&ODXGH3RXOLRW
0DUFHOOH5RQGHDX
6X]DQQH5RXVVLQ
0DUFHO6W/RXLV
$QDQG6ZDPLQDGKDQ
5LFKDUG7UHPEOD\
3LHUUH9LQFHQW
)HUPH5pJLV
*DOHULH$UFKDPEDXOW
*DUDJH-6\OYHVWUHILOVLQF
*pQpUHX[&RQVWUXFWLRQ
*LOOHV0DORLQF
,PSULPHULH/DQFW{W
/%+$
125',.HDXLQF
2SpUDGH0RQWUpDO
3DVWD3DSD
3LVFLQHV6RXF\
3UHPLHUWHFKHQYLURQQHPHQW
614/DQDXGLqUH
6RFLpWpGHVDOFRROVGX4XpEHF
&RPPDQGLWDLUHV
3DUWLFLSDQWV
/ª$OFKLPLVWH
%pODQJHU6DXYp
%LMRXWHULH3HUUHDXOW
&KULVWLDQH%UD]HDX
*pUDUG%RQLQ
&OXEGHJROIGH-ROLHWWH
&OXEGHJROI0RQWFDOP
&7=RRP
'XPRXOLQ
(%,
/ªeSLJUDSKH
6RUWLHFXOWXUHOOH
0XVpHGªDUWFRQWHPSRUDLQGH0RQWUpDO
0XVpHGHVEHDX[DUWVGH0RQWUpDO
&RPLWpYR\DJH
5(63216$%/(
3LHUUH9LQFHQW
&KULVWLDQH%UD]HDX
.DWKOHHQ-RQHV
-HDQQH%0DWWH
eGLWK3D\HWWH
0DULH5RXVVLQ
&DQGLGH6LPDUG
6LPRQH%HDXFKHPLQ
%HUWUDQGH%HUWUDQG
-RVpH%LEHDX
5DFKHO%RLVYHUW
*DpWDQH&KD\HU
0DGHOHLQH'pVLOHW
3DXOePLOH'pVLOHW
'RULV'HVURVLHUV
$QGUpH'XFKDUPH
/RXLVHWWH'XPRQWLHU
/pGD)RXUQLHU
6\OYLH)RXUQLHU
5REHUW*pUDUG
/LVH*ULPDUG
.DWKOHHQ-RQHV
/\VRQ/DEUHFTXH
3LHUUHWWH/DIUHQLqUH
$JQqV/pYHLOOp
0DGHOHLQH/pYHLOOpH&RUGHDX
'LDQH/XVVLHU
/XFLH0DOR
0DULH3LD0DVVH
/XF\0F0XUU\
0DQRQ0RRUH
)UDQFLQH0RULQ
*DpWDQH3DUp
*LQHWWH3HUUHDXOW
'RQDOG3RLULHU
5pMHDQQH5LFKDUG
)UDQoRLV5LYHVW
0DULH5RXVVLQ
&DQGLGH6LPDUG
/\QGD6RXEUDQ\
&ODLUH6W$XELQ
&DUROH7RXVLJQDQW
-RFHO\QH7UXGHO
0DUF9DQDVVH
3LHUUH9LQFHQW
&ODXGLQH:LOVRQ
&ODXGH<DOH
LE PERSONNEL DU MUSÉE
0(0%5(6'83(56211(/
$80$56
',5(&7,21*e1e5$/(
25*$1,*5$00(
&RQVHUYDWULFHGHOªDUWFRQWHPSRUDLQ
(YH/\QH%HDXGU\
$VVLVWDQWjODFRQVHUYDWLRQ
&216(59$7(85 /
e'8&$7,21
$VVLVWDQWjO
pGXFDWLRQ
*XLGHV
5(63216$%/('8'e9(/233(0(17
$'-2,17 /$&2037$%,/,7e(7 /ª,1)250$7,48(
5(63216$%/('(66(59,&(6$8;9,6,7(856
$GMRLQWVjOªDFFXHLO
6XUYHLOODQWV
0DULH+pOqQH)RLV\
6(59,&(7(&+1,48(
7HFKQLFLHQV
&KULVWLDQ$XGHW
5LFKDUG)RUWLQ
$VVLVWDQWWHFKQLFLHQ
-HDQ/RXLV&KDUWLHU
3UpSRVpjO
HQWUHWLHQ
&+$5*e'(352-(7¥5e$0e1$*(0(17'(6(;326,7,2163(50$1(17(6
6(59,&('(6&20081,&$7,216
&KDUJpHGHSURMHWDXUpDPpQDJHPHQW 5HVSRQVDEOHGHVFRPPXQLFDWLRQV
GHVH[SRVLWLRQVSHUPDQHQWHV
/DXULH*XLOOHPHWWH
)UDQFH7ULQTXH
6(59,&($8;9,6,7(856
$GMRLQWHjODFKDUJpHGHSURMHW
$'-2,17$'0,1,675$7,)
$VVLVWDQWHDXVHUYLFHpGXFDWLI
eODLQH)DIDUG0DUFRQL
$UFKLYLVWHGHVFROOHFWLRQV
0DULH+pOqQH)RLV\
5(63216$%/('(6&20081,&$7,216
&RQVHUYDWULFHjOªpGXFDWLRQ
&DWKHULQH'XERLV
$GMRLQWHjODFRQVHUYDWLRQ
0DU\VH%HUQLHU
$5&+,9,67('(6&2//(&7,216
7HFKQLFLHQV
6(59,&('(/
e'8&$7,21(7'(
/
$&7,21&8/785(//(
&216(59$7(85'(/
$57&217(0325$,1
&RQVHUYDWULFHHQFKHI
*DsWDQH9HUQD
',5(&7,21*e1e5$/((7&216(59$7(85(1&+()
'e3$57(0(17'(6(;326,7,216 $GMRLQWjODFRPSWDELOLWp
HWjOªLQIRUPDWLTXH
(7'(/$&216(59$7,21
eULF3DTXHWWH
&20,7e(;e&87,)
$GMRLQWHDGPLQLVWUDWLYH
+pOqQH/DFKDULWp
'LUHFWULFHJpQpUDOH
*DsWDQH9HUQD
&216(,/'ª$'0,1,675$7,21
6(59,&($'0,1,675$7,)
5HVSRQVDEOHGHVVHUYLFHVDX[YLVLWHXUV
'DQLHOOH&KHYDOLHU
$GMRLQWVjOªDFFXHLO
0DUJR%HO]LOH
0DUF1DQWHO
6XUYHLOODQWV
/RXLV'DYLG/HFOHUF
eOpRQRUH3LWUH
0DULH6DYRLH/HYDF
3UpSRVpjOªHQWUHWLHQ
(PPDQXHO)RUHVW
%e1e92/(6
+pOqQH%HUQLHU%HUWUDQGH%HUWUDQG-DFTXHOLQH&KDPSRX[<RODQGH'DKHU
'DQLHOOH'HODQJLV&DPLOOH'HQLV'HQLVH'HVMDUGLQV0RQLTXH'XEUHXLO*DpWDQ
'XEUHXLO$OIUHG'XFKDUPH/LVH3D\HWWH'XFKDUPH0DQRQ'XIUHVQH-HDQQLQH
*DXGHW0RQLTXH*DXWKLHU)UDQFLQH*pQpUHX[$QGUpH*HRIIUR\&ODLUH*UHQLHU
)HUQDQGH*UHQLHU$OLQH-DOHWWH%HQRLW-RO\.DWKOHHQ-RQHV$JDWKH/DFKDULWp
&ODXGHWWH/DGRXFHXU/LVH/DORQJp&KDUORWWH/DURFKHOOH)HUQDQGH/LDUG/LHWWH
0DULRQ/LVH0LUHDXOW*pQpUHX[*DpWDQH3DUp0LFKHOLQH5R\
5$33257),1$1&,(5
UXHGX3qUH:LOIULG&RUEHLO
-ROLHWWH4XpEHF-(7
7pOpSKRQH
7pOpFRSLHXU
ZZZPXVHHMROLHWWHRUJ
LQIR#PXVHHMROLHWWHRUJ
&225',1$7,21(75e$/,6$7,21
/DXULH*XLOOHPHWWH
5e'$&7,21
(YH/\QH%HDXGU\
0DU\VH%HUQLHU
0DULHºYH&RXUFKHVQH
eODLQH)DIDUG0DUFRQL
0DULH+pOqQH)RLV\
/DXULH*XLOOHPHWWH
*DsWDQH9HUQD
5e9,6,21/,1*8,67,48(
+pOqQH/DFKDULWp
&21&(37,21*5$3+,48(
/DXULH*XLOOHPHWWH
,035(66,21
,PSULPHULH/DQFW{W
(13$*(&289(5785(
*DERU6]LODVL0RWRF\FOLVWHVDXODF%DODWRQGpWDLO
eSUHXYHjODJpODWLQHDUJHQWLTXHWLUpHHQ
ÓFP
&ROOHFWLRQGHOªDUWLVWH
,6%1

5$33257 $118 - Musée d`art de Joliette

Transcription

Similar documents

Redemption in the Life and Work of Camille Claudel