• Aucun résultat trouvé

L a situation des transports en Pays de la Loire

N/A
N/A
Protected

Academic year: 2022

Partager "L a situation des transports en Pays de la Loire "

Copied!
24
0
0

Texte intégral

(1)

service connaissance des territoires et évaluation

novembre 2014

L a situation des transports en Pays de la Loire

Les flux routiers de marchandises en 2013

direction régionale de l'environnement, de l'aménagement et du logement des Pays de la Loire

ANALYSES ET CONNAISSANCE

Collection

n˚ 136

(2)

/HVFROOHFWLRQV©7UDQVSRUWVª

GHOD'LUHFWLRQUpJLRQDOHGHOHQYLURQQHPHQWGHODPpQDJHPHQWHWGXORJHPHQW

/DFROOHFWHO·DQDO\VHHWODGLIIXVLRQGHVVWDWLVWLTXHVGDQVOHGRPDLQHGHVWUDQVSRUWVIRQWSDUWLHGXFKDPSG·LQWHUYHQWLRQGHOD '5($/GHV3D\VGHOD/RLUH&HWWHPLVVLRQV·HIIHFWXHDXWUDYHUVGHWURLVJUDQGHVFDWpJRULHVGHSXEOLFDWLRQVQXPpULTXHV

8QEXOOHWLQPHQVXHO

VXUOHVYHQWHVGHYpKLFXOHVQHXIV 7LWUHGHODFROOHFWLRQ

LLes immatriculations mensuelles de véhicules neufs en Pays de la Loire

&RQWHQX H[SORLWDWLRQ GHV GRQQpHV GX569p5RUpSHUWRLUHVWDWLVWLTXHGHV YpKLFXOHVURXWLHUVFRPPXQLTXpHVSDU OH62H6DXGpEXWGHFKDTXHPRLV

8QHQRWH

GHFRQMRQFWXUHWULPHVWULHOOH 7LWUHGHODFROOHFWLRQ

La conjoncture des transports en Pays de la Loire

&RQWHQX VXLYL HW DQDO\VH GH OpYROXWLRQUpFHQWHGHVSULQFLSDX[

LQGLFDWHXUV GX VHFWHXU GHV WUDQVSRUWVHQ3D\VGHOD/RLUH

'HVELODQV

WKpPDWLTXHVDQQXHOV 7LWUHGHODFROOHFWLRQ

La situation des transports en Pays de la Loire

&RQWHQX SXEOLFDWLRQV j GRXEOH WLPEUH'5($/257DQDO\VDQW OHVUpVXOWDWVDQQXHOVG·XQWKqPH GRQQpGXVHFWHXUGHVWUDQVSRUWV

service connaissance des territoires et évaluation

novembre 2014

La situation des transports en Pays de la Loire

Les flux routiers de marchandises en 2013

Ministère de l'Écologie, du Développement durable et de l’Énergie direction régionale de l'environnement, de l'aménagement et du logement des Pays de la Loire

ANALYSES ET CONNAISSANCE

Collection

n° 136

'RFXPHQWFRQVXOWDEOHHWWpOpFKDUJHDEOHVXUOHVLWH GHOD'LUHFWLRQUpJLRQDOHGHO·HQYLURQQHPHQW

GHO·DPpQDJHPHQWHWGXORJHPHQWjODGUHVVHVXLYDQWH KWWSZZZSD\VGHODORLUHGHYHORSSHPHQWGXUDEOH JRXYIUUDSSRUWVWKHPDWLTXHVDQQXHOVVXUDKWPO

(3)

6RPPDLUH

6\QWKqVH²(QPLOOLRQVGHWRQQHVGHIUHWURXWLHURQWpWpDFKHPLQpHV GDQVOHV3D\VGHOD/RLUHGHSOXVTX·HQ

²/HVIOX[URXWLHUVGHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUHHWHQ)UDQFHPpWURSROLWDLQH

²/HWUDQVSRUWURXWLHUGHPDUFKDQGLVHVXQHVSpFLDOLWpOLJpULHQQH

²8QG\QDPLVPHFHUWDLQVXUORQJXHSpULRGH

²(QOHUD\RQG·DFWLRQGHVWUDQVSRUWHXUVUpJLRQDX[V·HVWFRQWUDFWp

=RRP²(QO·pYROXWLRQWULPHVWULHOOHGHO·DFWLYLWpGXSDYLOORQIUDQoDLVVXUOHVURXWHVGHODUpJLRQDpWpFKDRWLTXH

²/DYHQWLODWLRQFRPSWHSURSUHFRPSWHG·DXWUXL

²/H[WHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUWXQPRXYHPHQWGHORQJWHUPH«

²«TXLV·HVWLQIOpFKLGHSXLVVRXVO·HIIHWGHODFRQMRQFWXUHpFRQRPLTXH

²/DUpSDUWLWLRQJpRJUDSKLTXHGHVIOX[URXWLHUVGHPDUFKDQGLVHV

²/HIUHWLQWUDUpJLRQDOGHVWRQQDJHVGHVWRQQHVNLORPqWUHV

²/HVpFKDQJHVGHIUHWURXWLHUVHIRQWHQSUHPLHUOLHXDYHFOHVUpJLRQVOLPLWURSKHV

=RRP²5HSOLGHVWUDQVSRUWHXUVORFDX[VXUOHPDUFKpQDWLRQDO

²/HVJUDQGHVIDPLOOHVGHSURGXLWVWUDQVSRUWpV

²/HSRLGVGHODFRQVWUXFWLRQHWGHODJURDOLPHQWDLUH

²'HVSURILOVJpRJUDSKLTXHVHWRUJDQLVDWLRQQHOVPDUTXpVVHORQOHSURGXLW

²/HVGLVWDQFHVPR\HQQHVGHGpSODFHPHQW

²/DORQJXHXUGHVGpSODFHPHQWVDGLPLQXpGHHQ

²'HJUDQGHVGLVSDULWpVVHORQOHPRGHGHJHVWLRQHWODPDUFKDQGLVHWUDQVSRUWpH

$QQH[HVVWDWLVWLTXHVHWPpWKRGRORJLTXHV 6pULHVVWDWLVWLTXHV² /HVIDPLOOHVGHSURGXLWV

*ORVVDLUH

/DPHVXUHGHVIOX[URXWLHUVGHPDUFKDQGLVHV

$YHUWLVVHPHQW

/DSUpVHQWHSXEOLFDWLRQH[SORLWHGHVGRQQpHVGHO·HQTXrWH750SRUWDQWVXUOXWLOLVDWLRQGHVYpKLFXOHVGHWUDQVSRUW URXWLHUGHPDUFKDQGLVHVLPPDWULFXOpVHQ)UDQFHPpWURSROLWDLQHFIPpWKRGRORJLHHQSDJHVHW

/·HQTXrWH HVWUpDOLVpHFKDTXHDQQpHSDUOH6HUYLFHGHO·REVHUYDWLRQHWGHVVWDWLVWLTXHV62H6GX0LQLVWqUHGH OeFRORJLHGX'pYHORSSHPHQWGXUDEOHHWGHO·eQHUJLH(OOHHVWHIIHFWXpHSDUVRQGDJHDXSUqVGHVSURSULpWDLUHVHWGHV XWLOLVDWHXUVGHFDPLRQVHWWUDFWHXUVURXWLHUV(QFRQVpTXHQFHOHVUpVXOWDWVVRQWHQWDFKpVGXQHLPSUpFLVLRQSURSUH DX[VRQGDJHVGLWHHUUHXUGpFKDQWLOORQQDJHFRUUpOpHDXGHJUpGHGpWDLOGDQVOHTXHOLOVVRQWGRQQpV

/HVGRQQpHVSUpVHQWpHVFLDSUqVQHUHIOqWHQWSDVO·HQVHPEOHGXWUDILFGHV3D\VGHOD/RLUHHOOHVQHWLHQQHQWSDV FRPSWHGHVIOX[TXLQHIRQWTXHWUDYHUVHUODUpJLRQWUDQVLWURXWLHUQLGHVDFKHPLQHPHQWVHIIHFWXpVVRXVSDYLOORQ pWUDQJHUQLGXWUDQVSRUWOpJHUUpDOLVpSDUGHVYpKLFXOHVGHPRLQVGHWRQQHVGH37$&

(4)

6\QWKqVH²(QPLOOLRQVGHWRQQHVGHIUHWURXWLHURQWpWpDFKHPLQpHV GDQVOHV3D\VGHOD/RLUHGHSOXVTX·HQ

/H WUDQVSRUW URXWLHU VXUUHSUpVHQWp GDQV OD UpJLRQ HVW OH PRGHOHSOXVXWLOLVpSRXUWRXWHVOHVFDWpJRULHVGHSURGXLWV j OH[FHSWLRQ GHV FRPEXVWLEOHV 6D SDUW GH PDUFKp VHVW UHQIRUFpHDXFRXUVGHVGHUQLqUHVGpFHQQLHVVRXVOHGRXEOH HIIHWGHODFKqYHPHQWGXUpVHDXDXWRURXWLHUHWGHODFKXWH GHV WUDILFV IHUURYLDLUHV ,O HVW DXMRXUG·KXL HQ VLWXDWLRQ GH TXDVLPRQRSROHVXUOHVFRXUWHVGLVWDQFHV

/HWRWDOGHVIOX[URXWLHUVJpQpUpVSDUOHV3D\VGHOD/RLUH HQPLOOLRQVGHWRQQHVGHPDUFKDQGLVHVSODFHOH WHUULWRLUHUpJLRQDODXqPHUDQJQDWLRQDODSUqV5K{QH$OSHV HWOÍOHGH)UDQFHUHSUpVHQWDQWDLQVLXQHSDUWVHQVLEOHPHQW VXSpULHXUHjODVXSHUILFLHRXDXSRLGVGpPRJUDSKLTXHGHOD UpJLRQ$FHWWHDSSURFKHVWDWLTXHVDMRXWHXQHG\QDPLTXH IDYRUDEOHSRXUOHVRSpUDWHXUVGHWUDQVSRUWGHV3D\VGHOD /RLUHSXLVTXHHQWRQQHVODFURLVVDQFHGHVIOX[URXWLHUVGH PDUFKDQGLVHVVHVWpOHYpHHQWUHHWj FRQWUHDXQLYHDXQDWLRQDO

&HWWHSURJUHVVLRQGHVpFKDQJHVTXLWURXYHVRQIRQGHPHQW GDQVODYLWDOLWppFRQRPLTXHGHODUpJLRQHWOHIDLEOHUHFRXUV DX[PRGHVGHWUDQVSRUWWHUUHVWUHDOWHUQDWLIVjODURXWHD FRQQXGHQRPEUHX[VRXEUHVDXWVGHSXLVGpEXWGHOD FULVHpFRQRPLTXHDFWXHOOH(QO·DFWLYLWpDFRQQXXQ OpJHU UHJDLQ G·DFWLYLWp SDU UDSSRUW j 0HVXUpHQWRQQHVNLORPqWUHVOHIUHWURXWLHUDHQUHYDQFKH UHFXOpGHHQUDLVRQGXUpWUpFLVVHPHQWGHOD]RQHGH FKDODQGLVH GHV WUDQVSRUWHXUV ORFDX[ G€ j OD EDLVVH GX SDYLOORQ IUDQoDLV j O·LQWHUQDWLRQDO HW j OD OLEpUDOLVDWLRQ GX FDERWDJHURXWLHULQWHUYHQXHHQ

'HSXLVO·DVVRXSOLVVHPHQWGHODUpJOHPHQWDWLRQGXWUDQVSRUW URXWLHUSRXUFRPSWHG·DXWUXLLQWHUYHQXjODILQGHVDQQpHV OD SURSHQVLRQ SRXU OHV HQWUHSULVHV LQGXVWULHOOHV HW FRPPHUFLDOHV j O·H[WHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUW Q·DYDLWFHVVpGHFURvWUH/HVUDLVRQVHQpWDLHQWODEDLVVHGX SUL[GXWUDQVSRUWSXEOLFIDYRULVpHSDUO·DFFURLVVHPHQWGHOD FRQFXUUHQFH HW OD YRORQWp GH UHFHQWUDJH VXU OH PpWLHU G·RULJLQH 6RXV O·HIIHW GH O·LQVWDELOLWp GH O·DFWLYLWp pFRQRPLTXH OHV DQQpHV UpFHQWHV RQW PDUTXp XQH UXSWXUHGHWHQGDQFHGDQVOHV3D\VGHOD/RLUHGHj ODSDUWGXWUDQVSRUWSRXUFRPSWHSURSUHDSURJUHVVp GHGL[SRLQWVHQWRQQHVGHjHWGHVL[SRLQWVHQ WRQQHVNLORPqWUHVGHj

/·HVVHQWLHOGHVIOX[URXWLHUVGHPDUFKDQGLVHVGHV3D\VGH OD /RLUH VRQW GHV WUDILFV j FRXUWH GLVWDQFH /D ORQJXHXU PR\HQQHG·DFKHPLQHPHQWHVWGHNLORPqWUHVHQUHSOL

GHSDUUDSSRUWjTXDWUHIRLVPRLQVTXHFHOOH GHV WUDQVSRUWV IHUURYLDLUHV 3UqV GHV GHX[ WLHUV GHV WRQQDJHVURXWLHUVVRQWDLQVLLQWHUQHVDX[3D\VGHOD/RLUH HW SOXV GH OD PRLWLp QH GpSDVVH SDV OHV IURQWLqUHV GH FKDFXQGHVFLQTGpSDUWHPHQWVGHODUpJLRQ

/HVIOX[ELODWpUDX[DYHFOHVDXWUHVUpJLRQVIUDQoDLVHVVRQW PDMRULWDLUHPHQW UpDOLVpV DYHF OHV WHUULWRLUHV OLPLWURSKHV

%UHWDJQH 3RLWRX&KDUHQWHV &HQWUH HW %DVVH1RUPDQGLH HW YHUV O·ÍOHGH)UDQFH &HV FLQT UpJLRQV FRQFHQWUHQW OHV WURLVTXDUWVGHVIOX[G·pFKDQJHVGHV3D\VGHOD/RLUH

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&SDYLOORQpWUDQJHUQRQFRPSUL 6RXUFH62H66,75$0ILFKLHU750

eYROXWLRQHQWUHHWGHVIOX[URXWLHUV GHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUH

(QWRQQHV

²

²

&RPSWHGDXWUXL

&RPSWHSURSUH

)OX[HQWUDQWV )OX[VRUWDQWV )OX[LQWHUQHV

(QVHPEOH

(QWRQQHVNLORPqWUHV

²

² %

²

²

&RPSWHGDXWUXL

&RPSWHSURSUH )OX[HQWUDQWV )OX[VRUWDQWV )OX[LQWHUQHV

(QVHPEOH

/HV SULQFLSDX[ SURGXLWV WUDQVSRUWpV VRQW G·XQH SDUW OHV SRQGpUHX[PLQHUDLVHWPDWpULDX[GHFRQVWUXFWLRQG·DXWUH SDUWOHVGHQUpHVDJULFROHVRXDJURDOLPHQWDLUHV(Q FHV GHX[ IDPLOOHV RQW UHSUpVHQWp GHV WRQQDJHV HW GHVWRQQHVNLORPqWUHV/HVGLVWDQFHVGHGpSODFHPHQW YDULHQW IRUWHPHQW VHORQ OH W\SH GH PDUFKDQGLVHV NLORPqWUHV SRXU OHV PLQHUDLV SUqV GH NP SRXU OHV SURGXLWVFKLPLTXHVHWOHPRGHGHJHVWLRQNLORPqWUHV SRXU OH FRPSWH SURSUH SUHVTXH WURLV IRLV SOXV SRXU OH FRPSWHG·DXWUXL

(5)

²/HVIOX[URXWLHUVGHPDUFKDQGLVHV

GDQVOHV3D\VGHOD/RLUHHWHQ)UDQFHPpWURSROLWDLQH

²/HWUDQVSRUWURXWLHUGHPDUFKDQGLVHVXQHVSpFLDOLWpOLJpULHQQH

/HV 3D\V GH OD /RLUH VRQW XQH JUDQGH UpJLRQ GH WUDQVSRUW URXWLHU'HQRPEUHX[JURXSHVQRWDPPHQWGDQVOHGRPDLQH GH OD PHVVDJHULH VRQW QpV HW VH VRQW GpYHORSSpVGDQVOD UpJLRQ SRXU RFFXSHU DXMRXUGKXL GHV SRVLWLRQV GH SUHPLHU SODQVXUOHPDUFKpQDWLRQDOYRLUHHXURSpHQ

(QPDWLqUHGHIOX[URXWLHUVGHPDUFKDQGLVHVOHV3D\VGHOD /RLUHVHFODVVHQWHQqPHSRVLWLRQGHVUpJLRQVPpWURSROLWDLQHV DYHF PLOOLRQV GH WRQQHV FKDUJpHV RX GpFKDUJpHV HQ KRUVSDYLOORQVpWUDQJHUVHWWUDILFVLQWHUQDWLRQDX[/D UpJLRQ HVW GHYDQFpH SDU OHV GHX[ JpDQWV pFRQRPLTXHV IUDQoDLVTXHVRQW5K{QH$OSHVHWOÍOHGH)UDQFH

&HWWHSUpSRQGpUDQFHGHODURXWHHVWOLpHjODIDLEOHVVHGHV DXWUHVPRGHVGHWUDQVSRUWWHUUHVWUHGDQVODUpJLRQ

² /HV RSpUDWHXUV IHUURYLDLUHV VRQW SHXSUpVHQWVGDQVOHV 3D\V GH OD /RLUHHQUDLVRQGHODSRVLWLRQH[FHQWUpHGX WHUULWRLUH OLJpULHQ j O·pFDUW GHV JUDQGV FRXUDQWV G·pFKDQJHV QDWLRQDX[ HW HXURSpHQV SDU UDLO HW GH O·DWRPLFLWpGHODGHPDQGHUpJLRQDOH

² /D YRLH G·HDX HVW pJDOHPHQW SHX GpYHORSSpH GDQV OD UpJLRQPDOJUpODSUpVHQFHGXSOXVORQJIOHXYHIUDQoDLVHW G·XQFRQVpTXHQWUpVHDXGHULYLqUHVHWGHFDQDX[GRQWOH SRWHQWLHOQDYLJDEOHHVWWRXWHIRLVOLPLWpGXIDLWGHODQRQ FRQQH[LRQ GH OD /RLUH DYHF OH UHVWH GX UpVHDX IOXYLDO IUDQoDLV

²8QG\QDPLVPHFHUWDLQVXUORQJXHSpULRGH

3RUWpVSDUXQHQYLURQQHPHQWGpPRJUDSKLTXHHWpFRQRPLTXHIDYRUDEOHOHV3D\VGHOD/RLUHFRQVWLWXHQWDSUqVOD&RUVHOD UpJLRQIUDQoDLVHTXLDFRQQXGHSXLVODSURJUHVVLRQGHVRQSURGXLWLQWpULHXUEUXWODSOXVLPSRUWDQWHOHVIOX[URXWLHUVGH PDUFKDQGLVHV VH VRQW PRQWUpV G\QDPLTXHV DX FRXUV GHV GHX[ GHUQLqUHV GpFHQQLHV (Q WRQQHV OD FURLVVDQFH GHV IOX[

UpJLRQDX[VHVWpOHYpHHQWUHHWjFRQWUHDXQLYHDXQDWLRQDO

/DYLWDOLWpGHV3D\VGHOD/RLUHVH[SOLTXHDXVVLSDUOHGpYHORSSHPHQWGHVLQYHVWLVVHPHQWVURXWLHUVPXOWLSOLFDWLRQSDUGH ODORQJXHXUGXUpVHDXDXWRURXWLHUUpJLRQDOHQWUHHWOHVGLIILFXOWpVVWUXFWXUHOOHVGHVRSpUDWHXUVIHUURYLDLUHVHWOH GpFOLQGHODYRLHIOXYLDOH

/·DFWLYLWpGHPHVVDJHULHVHGpILQLWSDURSSRVLWLRQDXWUDQVSRUWGHORWV(OOHFRQVLVWHjWUDLWHUGHVHQYRLVGHPRLQVGHWURLVWRQQHVFRQVWLWXpVGHFROLV SURYHQDQWGHGLIIpUHQWVFKDUJHXUVHWDGUHVVpVjGLIIpUHQWVGHVWLQDWDLUHV6RQH[SORLWDWLRQUHSRVHVXUGHVSODWHVIRUPHVGHJURXSDJHGpJURXSDJH

3RXUOHVVHXOVWUDILFVLQWHUQDWLRQDX[PHVXUpVSDUOHV'RXDQHVMXVTX·HQODUpJLRQQHGpWLHQWHQUDLVRQGHVDSRVLWLRQH[FHQWUpHTXHOHqPH UDQJOHVSUHPLqUHVSODFHVpWDQWQDWXUHOOHPHQWRFFXSpHVSDUOHVUpJLRQVIURQWDOLqUHVGDQVORUGUH1RUG3DVGH&DODLV/RUUDLQH$OVDFHHW5K{QH

$OSHV

(QOHSURGXLWLQWpULHXUEUXWOLJpULHQDUHSUpVHQWpGX3,%GHOD)UDQFHPpWURSROLWDLQH'HSXLVOHV3D\VGHOD/RLUHRQWHQUHJLVWUpXQ WDX[GHFURLVVDQFHGX3,%HQYROXPHGHSDUDQHQPR\HQQH/DPR\HQQHIUDQoDLVHV·pWDEOLWjXQWDX[DQQXHOGH

/D PpWKRGRORJLH GH O·HQTXrWH 750 D pWp UpQRYpH HQ DYHF SRXU FRQVpTXHQFH GHV UXSWXUHV GH VpULHV SDU UDSSRUW DX[ UpVXOWDWV GHV DQQpHV SUpFpGHQWHV/H62H6PHWDLQVLHQpYLGHQFHMXVTXHQXQHVRXVHVWLPDWLRQGHVIOX[PHVXUpVGHORUGUHGHHQWRQQHVHWGHHQWRQQHVNP

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&

WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUV GHPDUFKDQGLVHVHQ

5K{QH$OSHV ÍOHGH)UDQFH 3D\VGHOD/RLUH

%UHWDJQH 1RUG3DVGH&DODLV 3URYHQFH$OSHV&{WHG$]XU

$TXLWDLQH

&HQWUH 3LFDUGLH 0LGL3\UpQpHV 3RLWRX&KDUHQWHV +DXWH1RUPDQGLH /RUUDLQH

%RXUJRJQH /DQJXHGRF5RXVVLOORQ

&KDPSDJQH$UGHQQH

%DVVH1RUPDQGLH

$OVDFH

$XYHUJQH )UDQFKH&RPWp /LPRXVLQ

&RUVH

(6)

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQPLOOLRQVGHWRQQHV

3D\VGHOD/RLUH

)UDQFHHQWLqUH

3D\VGHOD/RLUH )UDQFHPpWURSROLWDLQH

5XSWXUHGHVpULHV FIDQQH[HV

²(QOHUD\RQG·DFWLRQGHVWUDQVSRUWHXUVUpJLRQDX[V·HVWFRQWUDFWp

'HSXLVGpEXWGHODFULVHpFRQRPLTXHDFWXHOOHO·pYROXWLRQGHO·DFWLYLWpGXVHFWHXUGXIUHWURXWLHUVHPEOHSUHQGUHOD IRUPH G·XQ ©:ª pSRXVDQW HQ FHOD OHV IOXFWXDWLRQV JpQpUDOHV GHV FRXUDQWV G·DIIDLUH PDUTXpV SDU XQH VXFFHVVLRQ GH GpFURFKDJHVHWGHUHERQGV$LQVLHQVRXVO·HIIHWG·XQQRXYHDXUHSOLGHODGHPDQGHHQVHUYLFHVGHIUHWFRQFRPLWDQWj ODGpJUDGDWLRQGHO·DFWLYLWpLQGXVWULHOOHHWFRPPHUFLDOHOHVIOX[URXWLHUVGHPDUFKDQGLVHVV·pWDLHQWLQVFULWVjODEDLVVHGDQVOHV 3D\VGHOD/RLUHHQWRQQHV²FRPPHHQWRQQHVNLORPqWUHV²GDQVOHV3D\VGHOD/RLUH

(QHQUDLVRQG·XQHGHPDQGHHQOpJHUUHJDLQOHVYROXPHVWUDQVSRUWpVSDUOHSDYLOORQURXWLHUIUDQoDLVVXUOHWHUULWRLUHGHV 3D\VGHOD/RLUHH[SULPpVHQWRQQHVVHVRQWUHGUHVVpVGHVRLWODqPHSOXVIRUWHSURJUHVVLRQGHVUpJLRQVGH )UDQFHPpWURSROLWDLQH0HVXUpHHQWRQQHVNLORPqWUHVO·DFWLYLWpDHQUHYDQFKHIOpFKLGHWUDGXLVDQWXQUHFHQWUDJHGHV WUDQVSRUWHXUVOLJpULHQVYHUVOHVPDUFKpVORFDX[VRXVO·HIIHWGHO·DFFURLVVHPHQWGHODFRQFXUUHQFHpWUDQJqUHFISDJH

&KDPSYROXPHVWUDQVSRUWpVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

(YROXWLRQHQWUHHW GHVIOX[URXWLHUVGHPDUFKDQGLVHV

&HQWUH 3LFDUGLH

/DQJXHGRF5RXVVLOORQ

5K{QH$OSHV 3D\VGHOD/RLUH

ÍOHGH)UDQFH

$TXLWDLQH

1RUG3DVGH&DODLV %UHWDJQH /LPRXVLQ 3RLWRX&KDUHQWHV0LGL3\UpQpHV

%RXUJRJQH

$OVDFH

+DXWH1RUPDQGLH

$XYHUJQH

&KDPSDJQH$UGHQQH

3URYHQFH$OSHV&{WHG$]XU

%DVVH1RUPDQGLH

/RUUDLQH )UDQFKH&RPWp

²

²

²

²

²

7UDILF HQPLOOLRQVGHWRQQHV

(YROXWLRQ

(7)

=RRP²(QO·pYROXWLRQWULPHVWULHOOH

GHO·DFWLYLWpGXSDYLOORQIUDQoDLVVXUOHVURXWHVGHODUpJLRQDpWpFKDRWLTXH

&RQWUDLUHPHQWjO·DQQpHSUpFpGHQWHHQOHVIOX[URXWLHUVGHPDUFKDQGLVHVJpQpUpVSDUODUpJLRQGHV 3D\VGHOD/RLUHQ·RQWSDVpWpOLQpDLUHVDXILOGHVWULPHVWUHV&·HVWSDUDGR[DOHPHQWDXFRXUVGXWURLVLqPH WULPHVWUHTXLHVWWUDGLWLRQQHOOHPHQWODSpULRGHG·pWLDJHGHO·DFWLYLWpTXHOHVIOX[RQWpWpOHVSOXVpOHYpV

/·HPEHOOLHGHO·DFWLYLWpQHV·HVWSDVSRXUVXLYLHHQILQG·DQQpH6LDXTXDWULqPHWULPHVWUHGHOHYROXPH WUDQVSRUWpSDUOHSDYLOORQQDWLRQDOVXUOHVURXWHVGHODUpJLRQPLOOLRQVGHWRQQHVDDXJPHQWpGH FRPSDUpjFHOXLGXTXDWULqPHWULPHVWUHGHODFURLVVDQFHQ·DSURILWpTX·DX[IOX[LQWHUQHV/HV IOX[G·pFKDQJHVDYHFOHVDXWUHVUpJLRQVVHVRQWUHSOLpVGH

²/DYHQWLODWLRQFRPSWHSURSUHFRPSWHG·DXWUXL

²/H[WHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUWXQPRXYHPHQWGHORQJWHUPH«

/·H[WHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUWVHVWUHQIRUFpHDXFRXUVGXGHUQLHUTXDUWGHVLqFOHGDQVOHV3D\VGHOD/RLUHHQ OLDLVRQDYHFODOLEpUDOLVDWLRQGXFRPSWHG·DXWUXLVXSSUHVVLRQGHVFRQWLQJHQWVGHOLFHQFHVHWILQGHODWDULILFDWLRQURXWLqUH REOLJDWRLUHjODILQGHVDQQpHV/·DVVRXSOLVVHPHQWGHODUpJOHPHQWDWLRQGXWUDQVSRUWURXWLHUGHPDUFKDQGLVHVDHQWUDvQp XQHUHFUXGHVFHQFHGHVFUpDWLRQVG·HQWUHSULVHVHWXQDFFURLVVHPHQWGHODFRQFXUUHQFH,OV·HVWFRQFUpWLVpSDUGHVUHSRUWVGX FRPSWH SURSUH YHUV OH FRPSWH G·DXWUXL OD EDLVVH GHV SUL[ LQFLWDQW QRPEUH G·HQWUHSULVHV LQGXVWULHOOHV RX FRPPHUFLDOHV j H[WHUQDOLVHUOHXUDFWLYLWpGHWUDQVSRUW

/·H[WHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUWUHSRVHVXUOHSRVWXODWTXHOHFRPSWHGDXWUXLHVWSOXVSURGXFWLITXHOHFRPSWHSURSUHQRWDPPHQWHQUDLVRQ GHUHWRXUVjYLGHPRLQVIUpTXHQWV(OOHSHXWVHGpILQLUFRPPHOHSURFHVVXVTXLFRQVLVWHSRXUXQHHQWUHSULVHjFRQILHUjXQSUHVWDWDLUHH[WpULHXUOD UpDOLVDWLRQGHVHVRSpUDWLRQVGHWUDQVSRUW&HWWHVWUDWpJLHGHUHFHQWUDJHTXLVHWUDGXLWSDUOpOLPLQDWLRQG·DFWLYLWpVTXLQHVHVLWXHQWSDVDXF±XUGX PpWLHUGHVHQWUHSULVHVLQGXVWULHOOHVRXFRPPHUFLDOHVHVWFKRLVLHHQSUHPLHUOLHXGDQVOHEXWGHGLPLQXHUOHVIUDLVIL[HV

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWHWSDYLOORQpWUDQJHUQRQFRPSULV

&RPSWHGDXWUXLDFWLYLWpGHVHQWUHSULVHVGXVHFWHXUGHVWUDQVSRUWVDFKHPLQDQWGHVPDUFKDQGLVHVHQFRQWUHSDUWLHGXQHUpPXQpUDWLRQ 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVWULPHVWULHOVGHPDUFKDQGLVHV )OX[WULPHVWULHOVGHPDUFKDQGLVHVSDUVHQV

7 7 7 7 7 7 7 7 7 7 7 7 (QVHPEOH 'RQWFRPSWHGDXWUXL

7 7 7 7 7 7 7 7 7 7 7 7 )OX[LQWHUQHV )OX[HQWUDQWV )OX[VRUWDQWV

(8)

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQ3D\VGHOD/RLUH VHORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW

0LOOLRQVGHWRQQHV

&RPSWHGDXWUXL

&RPSWHSURSUH 5XSWXUHGHVpULHV

FIDQQH[HV

(QOHFRPSWHSURSUHWUDQVSRUWDLWGDQVOHV3D\VOD/RLUHGHVYROXPHVHWHIIHFWXDLWGHVWRQQHVNLORPqWUHV 'RX]HDQVSOXVWDUGHQVDSDUWQ·pWDLWSOXVTXHGHGHVYROXPHVWUDQVSRUWpVHWGHGHVWRQQHVNLORPqWUHV

&HQLYHDXSODQFKHUYRLVLQGHFHOXLREVHUYpHQ)UDQFHPpWURSROLWDLQHjODPrPHpSRTXHGHSDUWVGHPDUFKpHQWRQQHV NLORPqWUHVFDUDFWpULVHOHVSUHVWDWLRQVGHWUDQVSRUWTXHOHVHQWUHSULVHVHVWLPHQWSHUWLQHQWHVGHUpDOLVHUSDUHOOHVPrPHV

²«TXLV·HVWLQIOpFKLGHSXLVVRXVO·HIIHWGHODFRQMRQFWXUHpFRQRPLTXH

/DEDLVVHGXSRLGVUHODWLIGXWUDQVSRUWSRXUFRPSWHSURSUHTXDVLLQLQWHUURPSXHGHSXLVOHGpEXWGHVDQQpHVV·HVW LQYHUVpHORUVGHVFLQTGHUQLqUHVDQQpHV/DSDUWGXWUDQVSRUWSULYpDDLQVLSURJUHVVpGHGL[SRLQWVHQWRQQHVSDUUDSSRUWj GHjHWGHVL[SRLQWVHQWRQQHVNLORPqWUHVGHj

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQGDQVOHV3D\VGHOD/RLUHVHORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW (QWRQQHVNLORPqWUHV

&RPSWH SURSUH

&RPSWH GDXWUXL

(QWRQQHV

&RPSWH SURSUH

&RPSWH GDXWUXL

&RPPHRQO·REVHUYHJpQpUDOHPHQWHQSpULRGHGHIDLEOHFURLVVDQFHGHO·DFWLYLWppFRQRPLTXHOHFRPSWHSURSUHDUHOHYpODWrWHHQ DIILFKDQWXQWDX[GHFURLVVDQFHSDUUDSSRUWjVXSpULHXUjFHOXLGXFRPSWHG·DXWUXLFRQWUHHQ WRQQHVFRQWUH²HQWRQQHVNLORPqWUHV,OVHPEOHUDLWDLQVLTXHFHVGHUQLqUHVDQQpHVOHVFKDUJHXUVSRXUYXVGH IORWWHVGHYpKLFXOHVURXWLHUVRQWPRELOLVpOHXUVFDSDFLWpVLQWHUQHVGHWUDQVSRUWVRXVXWLOLVpHVHQUDLVRQGHVEDLVVHVG·DFWLYLWpGH GHHWGHDXGpWULPHQWGHVSUHVWDWDLUHVVSpFLDOLVpV

/DVSpFLDOLVDWLRQGHVDSSDUHLOVSURGXFWLIVHWODGLYLVLRQGHVWkFKHVIDYRULVHQWOHGpYHORSSHPHQWGXFRPSWHG·DXWUXLHQSDUWLFXOLHUORUVGHVSpULRGHVGH FURLVVDQFHGHO·pFRQRPLH&HVGHX[SURFHVVXVVRQWHQUHYDQFKHFLUFRQVFULWVHQSKDVHGHUpFHVVLRQ

(9)

6LODUpJLRQVHVLWXHDXqPHUDQJSRXUOHYROXPHGHVWRQQDJHVWUDLWpVHQFRPSWHSURSUHGHUULqUH5K{QH$OSHVHWVLFRPSDUpV jG·DXWUHVWHUULWRLUHVPpWURSROLWDLQVOHV3D\VGHOD/RLUHVHGLVWLQJXHQWSDUXQHVXUUHSUpVHQWDWLRQGHODFWLYLWpGHVHQWUHSULVHV GXFRPSWHSURSUHGHVYROXPHVWUDQVSRUWpVFRQWUHSRXUOD+DXWH1RUPDQGLHSRXUOH1RUG3DVGH&DODLVHW SRXUO·ÍOHGH)UDQFHLOVHUDLWLQH[DFWG·DIILUPHUTXHO·LQWHUQDOLVDWLRQGHODIRQFWLRQWUDQVSRUWFRQVWLWXHXQHVSpFLILFLWp UpJLRQDOH$LQVLHQOHVWRQQDJHVpPLVRXjGHVWLQDWLRQGHV3D\VGHOD/RLUHRQWUHSUpVHQWpUHVSHFWLYHPHQWSRXU OHFRPSWHG·DXWUXLHWSRXUOHFRPSWHSURSUHGHO·HQVHPEOHGHVIOX[LQWpULHXUVPpWURSROLWDLQV

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&

WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUV GHPDUFKDQGLVHVHQ

5K{QH$OSHV ÍOHGH)UDQFH 3D\VGHOD/RLUH

%UHWDJQH 1RUG3DVGH&DODLV 3URYHQFH$OSHV&{WHG$]XU

$TXLWDLQH

&HQWUH 3LFDUGLH 0LGL3\UpQpHV 3RLWRX&KDUHQWHV +DXWH1RUPDQGLH /RUUDLQH

%RXUJRJQH /DQJXHGRF5RXVVLOORQ

&KDPSDJQH$UGHQQH

%DVVH1RUPDQGLH

$OVDFH

$XYHUJQH )UDQFKH&RPWp /LPRXVLQ

&RUVH

&RPSWHSURSUH

&RPSWHGDXWUXL

²/DUpSDUWLWLRQJpRJUDSKLTXHGHVIOX[URXWLHUVGHPDUFKDQGLVHV

/D ORFDOLVDWLRQ JpRJUDSKLTXH GHVIOX[URXWLHUVHVWOHUHIOHWGH OD UpSDUWLWLRQ VSDWLDOH GH ODFWLYLWppFRQRPLTXHUpJLRQDOH PDUTXpH SDU OD SUpGRPLQDQFH GHVGpSDUWHPHQWVGXEDVVLQGH OD /RLUH /D /RLUH$WODQWLTXH JpQqUH SUqV GX WLHUV GX WUDILF URXWLHU GH OD UpJLRQ VXLYLH SDU OH 0DLQHHW/RLUH HWOD9HQGpH

)OX[URXWLHUVGHPDUFKDQGLVHV GDQVOHV3D\VGHOD/RLUHHQHW VHORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW

(QPLOOLHUVGH7 eYROXWLRQ

&RPSWHGDXWUXL

&RPSWHSURSUH

(QVHPEOH

(QPLOOLRQVGH7. eYROXWLRQ

&RPSWHGDXWUXL ²

&RPSWHSURSUH

(QVHPEOH ²

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&

WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

&RQWULEXWLRQGHV3D\VGHOD/RLUH DX[IOX[URXWLHUVLQWpULHXUV PpWURSROLWDLQVGHPDUFKDQGLVHV VHORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW

(QWRQQHV

&RPSWHGDXWUXL

&RPSWHSURSUH

(QVHPEOH

(QWRQQHVNP

&RPSWHGDXWUXL

&RPSWHSURSUH

(QVHPEOH

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&

WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

'pSDUWHPHQWVGH )OX[HQWUDQWV )OX[VRUWDQWV )OX[

FKDUJHPHQWRX 3D\VGH $XWUHV 3D\VGH $XWUHV URXWLHUV

GHGpFKDUJHPHQW OD/RLUH UpJLRQV OD/RLUH UpJLRQV WRWDX[

/RLUH$WODQWLTXH

0DLQHHW/RLUH

0D\HQQH

6DUWKH

9HQGpH

(QVHPEOH

8QLWpPLOOLHUGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&SDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

5pSDUWLWLRQJpRJUDSKLTXHGHVIOX[URXWLHUVGHPDUFKDQGLVHVHQ )OX[

LQWHUQHV

(10)

²/HIUHWLQWUDUpJLRQDOGHVWRQQDJHVGHVWRQQHVNLORPqWUHV

(QUDLVRQGHODGHQVLWpGHVLQIUDVWUXFWXUHVURXWLqUHVDVVXUDQWXQHGHVVHUWHSOXVILQHTXHOHVUpVHDX[GHVDXWUHVPRGHVGH WUDQVSRUWWHUUHVWUHUDLOVHWYRLHVQDYLJDEOHVOHFDPLRQHVWHQVLWXDWLRQGHTXDVLPRQRSROHVXUOHVFRXUWHVGLVWDQFHV(Q )UDQFH OD PDMRULWp GHV IOX[ URXWLHUV GH PDUFKDQGLVHV V·HIIHFWXH DLQVL j O·LQWpULHXU GHV UpJLRQV /HV 3D\V GH OD /RLUH Q·pFKDSSHQWSDVjODUqJOHHQGHVWRQQDJHVRQWpWpFKDUJpVHWGpFKDUJpVGDQVODUpJLRQ&HWWHSDUWDSHXYDULp DXILOGHVDQVIOXFWXDQWGHSXLVHQWUHHW

8QLWpPLOOLRQGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQ3D\VGHOD/RLUH VHORQOHVHQV

0LOOLRQVGHWRQQHV

)OX[LQWHUQHV )OX[VRUWDQWV )OX[HQWUDQWV

5XSWXUH GHVpULHV FIDQQH[HV

/DKLpUDUFKLHUpJLRQDOHGHODSDUWGHVIOX[LQWHUQHVVLWXHOHV3D\VGHOD/RLUHGDQVXQHSRVLWLRQLQWHUPpGLDLUHjPLFKHPLQHQWUH

² G·XQH SDUW OHV UpJLRQV SHX pWHQGXHV RX VLWXpHV DX FHQWUH GX WHUULWRLUH QDWLRQDO 3LFDUGLH &HQWUH /LPRXVLQ+DXWH1RUPDQGLH%RXUJRJQH%DVVH1RUPDQGLH

² G·DXWUHSDUWOHVHVSDFHVSpULSKpULTXHVHWGHSOXVJUDQGHVGLPHQVLRQV$TXLWDLQH3URYHQFH$OSHV&{WHG$]XU 0LGL3\UpQpHV%UHWDJQH5K{QH$OSHV

(QWRQQHVNLORPqWUHVOHVIOX[LQWHUQHVDX[3D\VGHOD/RLUHVRQWHQUHYDQFKHPLQRULWDLUHVGHVIOX[LQWHUQHVHQWUDQWVRX VRUWDQWV HQ pWDQW UpDOLVpV VXU GHV GLVWDQFHV SOXV FRXUWHV TXH OHV IOX[ G·pFKDQJHV GpILQLV FRPPH OD VRPPH GHV HQWUpHVHWVRUWLHVGHODUpJLRQ/HXUSDUWTXLpWDLWUHVWpHUHPDUTXDEOHPHQWVWDEOHHQWUHHWGDQVXQHIRXUFKHWWH TXLRVFLOODLWVHORQOHVDQQpHVHQWUHHWGXWRWDOGHVIOX[URXWLHUVGHPDUFKDQGLVHVDVHQVLEOHPHQWDXJPHQWpDX FRXUVGHVGHUQLqUHVDQQpHVSURJUHVVDQWGHVL[SRLQWVHQWUHHW

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQGDQVOHV3D\VGHOD/RLUHVHORQOHVHQV (QWRQQHVNLORPqWUHV

)OX[

LQWHUQHV )OX[

VRUWDQWV

)OX[

HQWUDQWV (QWRQQHV

)OX[

VRUWDQWV

)OX[

HQWUDQWV )OX[

LQWHUQHV

(11)

(Q OD PRURVLWp GH O·DFWLYLWp Q·D SDV WRXFKp GH IDoRQ XQLIRUPH OHV GLIIpUHQWV FRPSRVDQWV GX WUDILF URXWLHU GH PDUFKDQGLVHVOHVIOX[LQWHUQHVVHVRQWIRUWHPHQWDFFUXVGHHQWRQQHVHWGHHQWRQQHVNLORPqWUHVWDQGLVTXHOHV IOX[G·pFKDQJHVRQWVHQVLEOHPHQWIOpFKLGHHQWRQQHVHWGHHQWRQQHVNLORPqWUHV

)OX[URXWLHUVGHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUHHQHW

VHORQOHVHQVHWODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW

(QPLOOLHUV &RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

GHWRQQHV eYROXWLRQ eYROXWLRQ eYROXWLRQ

)OX[HQWUDQWV ² ²

)OX[VRUWDQWV ² ² ²

)OX[LQWHUQHV

3D\VGHOD/RLUH

)UDQFHPpWURSRO ² ²

5pJLRQ)UDQFH

(QPLOOLRQV &RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

GHWRQQHVNP eYROXWLRQ eYROXWLRQ eYROXWLRQ

)OX[HQWUDQWV ² ²

)OX[VRUWDQWV ² ²

)OX[LQWHUQHV

3D\VGHOD/RLUH ² ²

)UDQFHPpWURSRO ² ²

5pJLRQ)UDQFH

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV

6RXUFH62H66,75$0ILFKLHU750

(Q OHV IOX[ VRUWDQWV RQW pWp VXSpULHXUV DX[ IOX[ HQWUDQWV &HWWH SDUWLFXODULWp REVHUYpH GHSXLV OH GpEXW GX VXLYL VWDWLVWLTXHjO·H[FHSWLRQQRWDEOHGHO·DQQpHFIFRXUEHVGHODSDJHSUpFpGHQWHV·H[SOLTXHSDUOHVFDUDFWpULVWLTXHVGX WLVVXSURGXFWLIOLJpULHQPDUTXpSDUOHPDLQWLHQG·XQHIRUWHWUDGLWLRQDJULFROHHWLQGXVWULHOOH

'HIDoRQFODVVLTXHHQ3D\VGHOD/RLUHOHFRPSWHGDXWUXLHVWGRPLQDQWVXUOHVUHODWLRQVLQWHUUpJLRQDOHVPLOOLRQVGH WRQQHVFRQWUHSRXUOHFRPSWHSURSUH&HGHUQLHUHVWSUpVHQWVXUWRXWVXUOHVFRXUWHVGLVWDQFHVPrPHV·LOQ·HVWSOXV PDMRULWDLUHVXUOHVIOX[LQWUDUpJLRQDX[PLOOLRQVGHWRQQHVHQFRQWUHSRXUOHFRPSWHGDXWUXL

/DVWUXFWXUHGpSDUWHPHQWDOHGHVIOX[FKDUJpVHWGpFKDUJpVHQ3D\VGHOD/RLUHLOOXVWUHODSUpSRQGpUDQFHGHVWUDILFVj FRXUWHGLVWDQFHGHVPLOOLRQVGHWRQQHVGHIOX[LQWHUQHVjODUpJLRQQHVRUWHQWSDVGHVOLPLWHVGpSDUWHPHQWDOHV

&HV PLOOLRQV GH WRQQHV GH WUDILFV LQWUDGpSDUWHPHQWDX[ UHSUpVHQWHQW DLQVL SOXV GH OD PRLWLp GH OD WRWDOLWp GHVIOX[JpQpUpVSDUODUpJLRQ

LQWHUQHV HQWUDQWV RX VRUWDQWV /H VROGH GX WUDILF LQWHUQH HVW FRQVWLWXp SULQFLSDOHPHQWG·pFKDQJHV

²HQWUHOD/RLUH$WODQWLTXHHW OH0DLQHHW/RLUH

²OD /RLUH$WODQWLTXH HW OD 9HQGpH

²OD 6DUWKH HW OD 0D\HQQH

/HV3D\VGHOD/RLUHFRQVWLWXHQWODGHX[LqPHUpJLRQDJULFROHGH)UDQFHHWODWURLVLqPHUpJLRQLQGXVWULHOOH /RLUH 0DLQH

$WODQWLTXH HW/RLUH

/RLUH$WODQWLTXH

0DLQHHW/RLUH

0D\HQQH

6DUWKH

9HQGpH

(QVHPEOH

8QLWpPLOOLHUGHWRQQHVWUDQVSRUWpHVSDUGHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&SDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

'HVWLQDWLRQ

2ULJLQH 0D\HQQH 6DUWKH 9HQGpH

5pSDUWLWLRQJpRJUDSKLTXHGHVIOX[URXWLHUVLQWHUQHVHQ

(QVHPEOH

(12)

²/HVpFKDQJHVGHIUHWURXWLHUVHIRQWHQSUHPLHUOLHXDYHFOHVUpJLRQVOLPLWURSKHV

/HVVHQWLHOGHVpFKDQJHVURXWLHUVGHPDUFKDQGLVHVDXGpSDUWHWjO·DUULYpHGHV3D\VGHOD/RLUHVHIDLWDYHFOHVUpJLRQV OLPLWURSKHVOD%UHWDJQHSULQFLSDOHPHQWPDLVDXVVLOH3RLWRX&KDUHQWHVOH&HQWUHHWOD%DVVH1RUPDQGLHHWYHUVO·ÍOHGH )UDQFH(QFHVFLQTUpJLRQVRQWUHSUpVHQWpGHVWRQQDJHVVRUWDQWVGHV3D\VGHOD/RLUHHWGHVWRQQDJHV HQWUDQWV

8QLWpPLOOLHUGHWRQQHVSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

2ULJLQHHWGHVWLQDWLRQJpRJUDSKLTXHVGHVIOX[URXWLHUVLQWHUUpJLRQDX[HQ )OX[VRUWDQWV

)OX[HQWUDQWV )OX[VRUWDQWV

%DVVH1RUPDQGLH

&HQWUH 1RUG 3DVGH&DODLV

%UHWDJQH ÍOHGH)UDQFH

3LFDUGLH

&KDPSDJQH

$UGHQQH

3RLWRX

&KDUHQWHV

/RUUDLQH

$OVDF

$TXLWDLQH

/LPRXVLQ

$XYHUJQH 5K{QH$OSHV )UDQFKH

&RPWp

/DQJXHGRF

5RXVVLOORQ 3URYHQFH$OSHV

&{WHG$]XU

%RXUJRJQH +DXWH

1RUPDQGLH

0LGL

3\UpQpHV

)OX[HQWUDQWV

%DVVH1RUPDQGLH

&HQWUH 1RUG 3DVGH&DODLV

%UHWDJQH ÍOHGH)UDQFH

3LFDUGLH

&KDPSDJQH

$UGHQQH

3RLWRX

&KDUHQWHV

/RUUDLQH

$OVDFH

$TXLWDLQH

/LPRXVLQ

$XYHUJQH

0LGL 3\UpQpHV

5K{QH$OSHV )UDQFKH

&RPWp

/DQJXHGRF

5RXVVLOORQ 3URYHQFH$OSHV

&{WHG$]XU

%RXUJRJQH +DXWH

1RUPDQGLH

(13)

(QOHVYROXPHVG·pFKDQJHVDXGpSDUWRXjGHVWLQDWLRQGHV3D\VGHOD/RLUHRQWGLPLQXpJOREDOHPHQWGHHWOD SOXSDUWGHVOLDLVRQVELODWpUDOHVVHVRQWLQVFULWHVHQUHSOLSDUUDSSRUWj3DUPLOHVFRXUDQWVG·pFKDQJHVVXSpULHXUVjGHX[

PLOOLRQV GH WRQQHV SDU DQ OHV IOX[ DYHF OHV UpJLRQV 3RLWRX&KDUHQWHV %DVVH1RUPDQGLH HW +DXWH1RUPDQGLH RQW IDLW H[FHSWLRQOHXUVWRQQDJHVD\DQWDXJPHQWpG·HQYLURQ(QUHYDQFKHOHVpFKDQJHVDYHFOD%UHWDJQHSUHPLHUSDUWHQDLUH pFRQRPLTXHGHV3D\VGHOD/RLUHRQWEDLVVpGH

(FKDQJHVURXWLHUVGHPDUFKDQGLVHVDXGpSDUWHWjO·DUULYpHGHV3D\VGHOD/RLUHHQHW VHORQODUpJLRQGRULJLQHHWGHGHVWLQDWLRQ

(QPLOOLHUV )OX[HQWUDQWV )OX[VRUWDQWV (QVHPEOH

GHWRQQHV eYROXWLRQ eYROXWLRQ eYROXWLRQ

$OVDFH ² ² ²

$TXLWDLQH ² ² ²

$XYHUJQH

%DVVH1RUPDQGLH

%RXUJRJQH ² ²

%UHWDJQH ² ² ²

&HQWUH ² ²

&KDPSDJQH$UGHQQH ² ²

)UDQFKH&RPWp ² ²

+DXWH1RUPDQGLH

,OHGH)UDQFH ² ² ²

/DQJXHGRF5RXVVLOORQ ² ² ²

/LPRXVLQ

/RUUDLQH ² ²

0LGL3\UpQpHV ²

1RUG3DVGH&DODLV ² ²

3LFDUGLH

3RLWRX&KDUHQWHV

3URYHQFH$OSHV&{WHG$]XU ² ² ²

5K{QH$OSHV ² ² ²

7RWDO ² ² ²

(QPLOOLRQV &RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

GHWRQQHVNLORPqWUHV eYROXWLRQ eYROXWLRQ eYROXWLRQ

$OVDFH ² ² ²

$TXLWDLQH ² ² ²

$XYHUJQH

%DVVH1RUPDQGLH

%RXUJRJQH ² ²

%UHWDJQH ² ²

&HQWUH ² ² ²

&KDPSDJQH$UGHQQH ² ²

)UDQFKH&RPWp ² ²

+DXWH1RUPDQGLH

,OHGH)UDQFH ² ² ²

/DQJXHGRF5RXVVLOORQ ² ² ²

/LPRXVLQ ²

/RUUDLQH ² ²

0LGL3\UpQpHV ² ²

1RUG3DVGH&DODLV ² ²

3LFDUGLH

3RLWRX&KDUHQWHV ²

3URYHQFH$OSHV&{WHG$]XU ² ² ²

5K{QH$OSHV ² ² ²

7RWDO ² ² ²

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

(14)

=RRP²5HSOLGHVWUDQVSRUWHXUVORFDX[VXUOHPDUFKpQDWLRQDO

'HSXLVHQYLURQXQHTXLQ]DLQHG·DQQpHVOHVFRQGLWLRQVGHFRQFXUUHQFHjO·LQWHUQDWLRQDOGpIDYRUDEOHVDX SDYLOORQIUDQoDLVVHORQOHVWUDYDX[GX&15RQWGDQVXQHVLWXDWLRQGHUDOHQWLVVHPHQWSXLVGHEDLVVH GHVpFKDQJHVDFFpOpUpOHUHIOX[GHVWUDQVSRUWHXUVORFDX[VXUOHPDUFKpQDWLRQDO/HUHFXOGHO·DFWLYLWpGX SDYLOORQURXWLHUIUDQoDLVjO·LQWHUQDWLRQDOGpMjPDUTXpHQWUHHWVHVWSRXUVXLYLFHVGHUQLqUHV DQQpHV /H SDYLOORQ QDWLRQDO FRQWLQXH GH SHUGUH GHV SDUWV GH PDUFKp YLV j YLV GH VHV SDUWHQDLUHV WUDGLWLRQQHOVQRWDPPHQWHVSDJQROVHWDOOHPDQGVHWQ·DSDVSURILWpGHVPDUFKpVHQFRXUVG·pPHUJHQFH FRQVpFXWLIVjO·DGKpVLRQGHVQRXYHDX[pWDWVPHPEUHVGHO·8QLRQHXURSpHQQH

&HSKpQRPqQHWRXFKHpJDOHPHQWOHV3D\VGHOD/RLUH$XFRXUVGHODGHUQLqUHGpFHQQLHHWGHPLHOH YROXPHGHVIOX[LQWHUQDWLRQDX[UpDOLVpVSDUGHVWUDQVSRUWHXUVIUDQoDLVjORULJLQHRXjGHVWLQDWLRQGHV 3D\VGHOD/RLUHDIRUWHPHQWUHFXOpFKXWHGHHQWUHHW&HPRXYHPHQWTXLDYDLW PDUTXpXQHSDXVHHQHWHQV·HVWUpDFWLYpHQ²SDUUDSSRUWjHWHQ

²SDUUDSSRUWj

/HVIOX[UpDOLVpVSDUGHVYpKLFXOHVpWUDQJHUVQHVRQWSDVFRPSWDELOLVpV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVLQWHUQDWLRQDX[GHPDUFKDQGLVHV DXGpSDUWRXjGHVWLQDWLRQGHV3D\VGHOD/RLUH

0LOOLHUVGHWRQQHV

)OX[VRUWDQWV )OX[HQWUDQWV

1RWHDXOHFWHXUOHJUDSKLTXHFLGHVVXVHVWWLUpG·XQWUDLWHPHQWVSpFLILTXHGXILFKLHU750SRUWDQWVXUODSDUWLHIUDQoDLVHGHVWUDMHWVURXWLHUVLQWHUQDWLRQDX[

GHPDUFKDQGLVHV&HWWHH[SORLWDWLRQHVWLQGpSHQGDQWHGXUHVWHGXSUpVHQWGRFXPHQWTXLQHFRQFHUQHTXHOHVIOX[GRPHVWLTXHV

(QUDLVRQGHVDSRVLWLRQH[FHQWUpHOHV3D\VGHOD/RLUHQHVRQWSDVODUpJLRQIUDQoDLVHODSOXVGXUHPHQW WRXFKpHSDUODFKXWHGDFWLYLWpVXUOHVPDUFKpVH[WpULHXUV7RXWHIRLVVLODGLVWDQFHJpRJUDSKLTXHHQWUH ODUpJLRQHWOHVFDUUHIRXUVHXURSpHQVDORQJWHPSVSUpVHUYpOHVWUDQVSRUWHXUVORFDX[OHSDYLOORQOLJpULHQD pWpIUDJLOLVpFHVGHUQLqUHVDQQpHVSDUORXYHUWXUHGXFDERWDJHURXWLHUjOHQVHPEOHGHVSD\VPHPEUHVGH O8QLRQHXURSpHQQH

/DILVFDOLWpHWVXUWRXWOHVFR€WVVRFLDX[QRWDPPHQWOHVVDODLUHVSqVHQWSOXVIRUWHPHQWVXUOHFR€WGHUHYLHQWGHVWUDQVSRUWHXUVIUDQoDLVTXHVXUFHOXL GHOHXUVFRQIUqUHVpWUDQJHUV8QHpWXGHGX&15&RPLWpQDWLRQDOURXWLHUSRUWDQWVXUOHVDQQpHVHWLQGLTXHTXHOHFR€WGHO·KHXUHGH FRQGXLWHGHVpWDEOLVVHPHQWVKH[DJRQDX[HVWGHjSOXVFKHUTXHOHVSDYLOORQVSRORQDLVHVSDJQROHWDOOHPDQGOHDGHUVHQ(XURSH

/HFDERWDJHGpILQLWWRXWWUDQVSRUWHIIHFWXpjWLWUHWHPSRUDLUHDYHFFKDUJHPHQWHWGpFKDUJHPHQWGDQVXQPrPHSD\VpWUDQJHU,OHVWHQFDGUpDXVHLQGH O·8QLRQHXURSpHQQHGHSXLVOHHUPDL,OSHUPHWjWRXWWUDQVSRUWHXUG·XQeWDWPHPEUHGHUpDOLVHUWURLVRSpUDWLRQVGHWUDQVSRUWVLQWpULHXUVVXUOHWHUULWRLUH G·XQDXWUHeWDWPHPEUHVXUXQHSpULRGHGHVHSWMRXUVjOLVVXHGXQWUDQVSRUWLQWHUQDWLRQDO&HWWHGLVSRVLWLRQRIIUHDX[WUDQVSRUWHXUVHXURSpHQVODSRVVLELOLWp GHGLPLQXHUOHQRPEUHGHOHXUVWUDMHWVjYLGH/HFDERWDJHUHSUpVHQWHUDLWGHjGHVIOX[LQWpULHXUVURXWLHUVUpDOLVpVVXUOHWHUULWRLUHIUDQoDLV

(15)

²/HVJUDQGHVIDPLOOHVGHSURGXLWVWUDQVSRUWpV

²/HSRLGVGHODFRQVWUXFWLRQHWGHODJURDOLPHQWDLUH

/D VWUXFWXUH SDU SURGXLW GHV IOX[ FKDUJpV RX GpFKDUJpV GDQV OD UpJLRQ PHW HQ pYLGHQFH GHX[ SRVWHV SULQFLSDX[ OD FRQVWUXFWLRQHWODJURDOLPHQWDLUH(OOHHVWOHUHIOHWGXSRLGVGHFHVGHX[VHFWHXUVGDQVOpFRQRPLHUpJLRQDOH

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

)OX[URXWLHUVGHPDUFKDQGLVHVHQGDQVOHV3D\VGHOD/RLUHVHORQODQDWXUHGHODPDUFKDQGLVH (QWRQQHV

0DWpULDX[GH FRQVWUXFWLRQ

3URGXLWV DJULFROHV 'LYHUV

0LQHUDLV 3URGXLWV

PDQXIDFWXUpV

3URGXLWV DOLPHQWDLUHV

(QWRQQHVNLORPqWUHV

3URGXLWV DJULFROHV 'LYHUV

3URGXLWV PDQXIDFWXUpV

3URGXLWV DOLPHQWDLUHV

0DWpULDX[GH FRQVWUXFWLRQ

0LQHUDLV

/HV PLQHUDLV PpWDX[ EUXWV HW SURGXLWV G·H[WUDFWLRQ QRQ pQHUJpWLTXHV HW PDWpULDX[ GH FRQVWUXFWLRQ DUULYHQWHQWrWHGHV SURGXLWVWUDQVSRUWpVGHVWRQQHVPDLVVHXOHPHQWHQWRQQHVNPOHV3D\VGHOD/RLUHpWDQWOHGHX[LqPHSURGXFWHXU IUDQoDLVGHJUDQXODWVDSUqV5K{QH$OSHV/HVDFWHXUVORFDX[SURILWHQWGHO·LPSRUWDQFHGXPDUFKpGXORJHPHQWHQ/RLUH

$WODQWLTXH HW GDQV XQH PRLQGUH PHVXUH HQ 9HQGpH SRUWpH SDU OH G\QDPLVPH GpPRJUDSKLTXH GH OD UpJLRQ O·HVVRU GHV SURJUDPPHVGKDELWDWFROOHFWLIHWGHVFRQGLWLRQVGHILQDQFHPHQWIDYRUDEOHVWDX[G·LQWpUrWKLVWRULTXHPHQWEDVHWGLVSRVLWLIV

©6FHOOLHUª©'XIORWª&HVRQWDLQVLGHVPLQHUDLVHWPDWpULDX[GHFRQVWUXFWLRQIDEULTXpVHQ3D\VGHOD/RLUHTXLVRQW GHVWLQpVDXPDUFKpOLJpULHQPLOOLRQVGHWRQQHVVXUXQWRWDOGHPLOOLRQVGHWRQQHV

/H VHFRQG SRVWH HVW FRQVWLWXp GHV SURGXLWV DJULFROHV HW DOLPHQWDLUHV HQ WRQQHV HQ WRQQHVNLORPqWUHV /HV SULQFLSDOHVPDUFKDQGLVHVWUDQVSRUWpHVVRQWODYLDQGHOHVSURGXLWVODLWLHUVHWOHVFpUpDOHV/HV3D\VGHOD/RLUHqPHUpJLRQ DJULFROH GH )UDQFH FRQFHQWUHQW GH OD VXUIDFHDJULFROHQDWLRQDOHHWDVVXUHQWGHODSURGXFWLRQDYHFXQHIRUWH VSpFLDOLVDWLRQGDQVOpOHYDJH/DUpJLRQDEULWHDXVVLXQHSODWHIRUPHGpFKDQJHVLQFRQWRXUQDEOHGDQVOHJUDQGRXHVWDYHFOH 0DUFKpG,QWpUrW1DWLRQDOGH1DQWHVOHqPHGH)UDQFHTXLWUDLWHFKDTXHDQQpHWRQQHVGHSURGXLWV/LQGXVWULH DJURDOLPHQWDLUHQpHVXUOHWHUUHDXGHODJULFXOWXUHUpJLRQDOHHVWOHSUHPLHUHPSOR\HXULQGXVWULHOGHV3D\VGHOD/RLUHDEULWDQW SOXVLHXUVOHDGHUVQDWLRQDX[WHOVTXH7HUUHQD/DFWDOLV/'&)OHXU\0LFKRQ6RGHER%ULRFKH3DVTXLHURX%1/DUpJLRQ\

RFFXSHODqPHSRVLWLRQHUUDQJSRXUO·LQGXVWULHODLWLqUHUHSUpVHQWDQWGHODYDOHXUDMRXWpHQDWLRQDOHGXVHFWHXU

/DQRPHQFODWXUHVWDWLVWLTXHGHVWUDQVSRUWV167

'HSXLVVDFUpDWLRQHQOHVUpVXOWDWVGXILFKLHU750pWDLHQWSXEOLpVVHORQXQHFODVVLILFDWLRQFRPPXQHjWRXVOHVSD\V GH O8QLRQ HXURSpHQQH FRQQXH VRXV ODEUpYLDWLRQ 1675 'HV WUDYDX[ GH UpYLVLRQ RQW FRQGXLW j OpWDEOLVVHPHQW GXQH QRXYHOOHYHUVLRQGpQRPPpH167HQWUpHHQYLJXHXUHQ

6LOD167HVWFRPSDWLEOHDYHFOD1$&(QRPHQFODWXUHHXURSpHQQHGHVDFWLYLWpVpFRQRPLTXHVHOOHVRXIIUHGXQ LQFRQYpQLHQW PDMHXU /H SUHPLHU QLYHDX GH OD QRPHQFODWXUH OHV GLYLVLRQV FRPSUHQG YLQJW SRVLWLRQV FH TXL HVW PDQLIHVWHPHQWWURSpOHYpSRXUOHVEHVRLQVGHODQDO\VHpFRQRPLTXH'DQVODSUpVHQWHSXEOLFDWLRQOHVPDUFKDQGLVHVRQW DORUVpWpFODVVpHVGDQVGL[FDWpJRULHVGHSURGXLWVLVVXHVGHUHJURXSHPHQWVGHGLYLVLRQVGHOD167FISDJH

(16)

(QWRQQHVNLORPqWUHVODUpSDUWLWLRQGHVPDUFKDQGLVHVWUDQVSRUWpHVHVWSOXVGLIIXVHOHVSURGXLWVPDQXIDFWXUpVIDPLOOHGH ELHQVODSOXVKpWpURJqQHGHODQRPHQFODWXUHVWDWLVWLTXHGHVWUDQVSRUWV167FRQFHQWUHQWSUqVG·XQWLHUVGHVIOX[

)OX[URXWLHUVGHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUHHQHW VHORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUWHWODFDWpJRULHGHSURGXLWV

(QPLOOLHUV &RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

GHWRQQHV eYROXWLRQ eYROXWLRQ eYROXWLRQ

3URGXLWVDJULFROHV

3URGXLWVDOLPHQWDLUHV ² ² ²

3URGXLWVpQHUJpWLTXHV ²

0LQHUDLV ² ²

3URGXLWVPpWDOOXUJLTXHV ² ² ²

0DWGHFRQVWUXFWLRQ

3URGXLWVFKLPLTXHV ²

3URGXLWVPDQXIDFWXUpV

2UGXUHVHWGpFKHWV ²

$XWUHVPDUFKDQGLVHV ² ² ²

7RWDO

(QPLOOLRQV &RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

GHWRQQHVNP eYROXWLRQ eYROXWLRQ eYROXWLRQ

3URGXLWVDJULFROHV ²

3URGXLWVDOLPHQWDLUHV ² ² ²

3URGXLWVpQHUJpWLTXHV

0LQHUDLV ²

3URGXLWVPpWDOOXUJLTXHV ² ²

0DWGHFRQVWUXFWLRQ ² ²

3URGXLWVFKLPLTXHV ² ²

3URGXLWVPDQXIDFWXUpV ² ²

2UGXUHVHWGpFKHWV ²

$XWUHVPDUFKDQGLVHV ²

7RWDO ² ²

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV

6RXUFH62H66,75$0ILFKLHU750

(QVHXOHPHQWTXDWUHFDWpJRULHVGHPDUFKDQGLVHVRQWHQUHJLVWUpXQHEDLVVHGHOHXUWRQQDJH/HVSURGXLWVpQHUJpWLTXHV OHVPDWpULDX[GHFRQVWUXFWLRQHWOHVSURGXLWVDJULFROHVVHVRQWGLVWLQJXpVHQUHJLVWUDQWGHVFURLVVDQFHVjGHX[FKLIIUHVGH OHXUVWUDILFVSDUUDSSRUWj

(QUHYDQFKHGDQVXQFRQWH[WHpFRQRPLTXHPRURVHPDUTXpSDUXQHKDXVVHGXSUL[GHVLQWUDQWVDJULFROHVLPSRUWpVOHVIOX[GH SURGXLWVDOLPHQWDLUHVRQWIRUWHPHQWEDLVVp²HQWRQQHV²HQWRQQHVNLORPqWUHV'DQVGHVYROXPHVSOXVIDLEOHV OHWUDQVSRUWGHSURGXLWVPpWDOOXUJLTXHVDpJDOHPHQWIOpFKL

²'HVSURILOVJpRJUDSKLTXHVHWRUJDQLVDWLRQQHOVPDUTXpVVHORQOHSURGXLW

/HVGLIIpUHQWHVFDWpJRULHVGHPDUFKDQGLVHVWUDQVSRUWpHVGDQVOHV3D\VGHOD/RLUHSUpVHQWHQWGHVVSpFLILFLWpVSURQRQFpHV

²ODSDUWGHVIOX[LQWHUQHVDWWHLQWVRQPD[LPXPSRXUOHVRUGXUHVHWGpFKHWVGHVWRQQDJHVHQUDLVRQGHODIRUWH FRQFHQWUDWLRQGHFHQWUHVGHWUDLWHPHQWHWGHUHF\FODJHGDQVODUpJLRQDLQVLTXHSRXUOHVPDWpULDX[GHFRQVWUXFWLRQHWOHV PLQHUDLVUHVSHFWLYHPHQWHWHQOLDLVRQDYHFO·LPSRUWDQFHGHODGHPDQGHORFDOH

²jO·LQYHUVHOHVPDUFKpVOHVSOXVRXYHUWVYHUVO·H[WpULHXUVRQWFHX[GHVSURGXLWVFKLPLTXHVGHVGHQUpHVDOLPHQWDLUHVHWGHV ELHQVPDQXIDFWXUpV

&·HVW DX VHLQ GH FHWWH GHUQLqUH IDPLOOH GH SURGXLWV TXH OH[WHUQDOLVDWLRQ GH OD IRQFWLRQ WUDQVSRUW HVW OD SOXV PDUTXpH OH WUDQVSRUW SXEOLF \ DVVXUDQW GHV WRQQHVNLORPqWUHV FH TXL PHW HQ pYLGHQFH OH OLHQ WUqV IRUW HQWUH ORQJXHXU GHV GpSODFHPHQWVHWLPSRUWDQFHGXFRPSWHG·DXWUXL

(17)

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

2UGXUHVHWGpFKHWV

$XWUHVPDUFKDQGLVHV

6WUXFWXUHJpRJUDSKLTXHGHVIOX[URXWLHUVGHPDUFKDQGLVHVSDUFDWpJRULHGHSURGXLWVHQ

3URGXLWVPpWDOOXUJLTXHV 0DWGHFRQVWUXFWLRQ

3URGXLWVFKLPLTXHV 3URGXLWVPDQXIDFWXUpV

3URGXLWVDJULFROHV 3URGXLWVDOLPHQWDLUHV 3URGXLWVpQHUJpWLTXHV

0LQHUDLV

(QWRQQHVNLORPqWUHV

)OX[LQWHUQHV )OX[VRUWDQWV )OX[HQWUDQWV (QWRQQHV

)OX[LQWHUQHV )OX[VRUWDQWV )OX[HQWUDQWV

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

3URGXLWVFKLPLTXHV 3URGXLWVPDQXIDFWXUpV

2UGXUHVHWGpFKHWV

$XWUHVPDUFKDQGLVHV

6WUXFWXUHRUJDQLVDWLRQQHOOHGHVIOX[URXWLHUVGHPDUFKDQGLVHVSDUFDWpJRULHGHSURGXLWVHQ

3URGXLWVDJULFROHV 3URGXLWVDOLPHQWDLUHV 3URGXLWVpQHUJpWLTXHV

0LQHUDLV 3URGXLWVPpWDOOXUJLTXHV

0DWGHFRQVWUXFWLRQ

(QWRQQHVNLORPqWUHV

&RPSWHGDXWUXL &RPSWHSURSUH (QWRQQHV

&RPSWHGDXWUXL &RPSWHSURSUH

(18)

²/HVGLVWDQFHVPR\HQQHVGHGpSODFHPHQW

²/DORQJXHXUGHVGpSODFHPHQWVDGLPLQXpGHHQ

&KDTXH PRGH GH WUDQVSRUW GH IUHW D VRQ VHXLO GHSHUWLQHQFHLQWULQVqTXHOLpDX[GLVWDQFHVGHGpSODFHPHQW$ORUVTXHOH WUDQVSRUWURXWLHUJUkFHjXQHJUDQGHTXDOLWpGHGHVVHUWHHVWSDUWLFXOLqUHPHQWDGDSWpDX[FRXUWHVGLVWDQFHVHWTXHODYRLH PDULWLPHHVWSDUQDWXUHSULYLOpJLpHGDQVOHVWUDQVSRUWVLQWHUQDWLRQDX[DXORQJFRXUVOHWUDQVSRUWIHUURYLDLUHUpDOLVHOHVVHQWLHO GHVHVWUDILFVVXUGHVORQJXHXUVLQWHUPpGLDLUHV/DGLVWDQFHG·DWWUDFWLYLWpGXFDPLRQFRPPHQFHDLQVLGqVOHSUHPLHUNLORPqWUH FHOOHGXWUDLQGpSHQGGHODTXDOLWpHWGXQLYHDXGHO·RIIUH(Q3D\VGHOD/RLUHODGLVWDQFHPR\HQQHGHVWUDQVSRUWVURXWLHUVGH PDUFKDQGLVHVTXLRVFLOOHHQWUHHWNLORPqWUHVHVWDLQVLSUqVGHTXDWUHIRLVLQIpULHXUHjFHOOHGXIUHWIHUURYLDLUH HQYLURQNLORPqWUHVHQ

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

'LVWDQFHVPR\HQQHVGHVIOX[URXWLHUVGHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUH 6HORQODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUW

.LORPqWUHV

&RPSWHGDXWUXL

&RPSWHSURSUH (QVHPEOH

6HORQOHVHQV

.LORPqWUHV )OX[HQWUDQWV

)OX[VRUWDQWV )OX[LQWHUQHV

/·DFFURLVVHPHQW GHV GLVWDQFHV URXWLqUHV REVHUYp MXVTX·DX GpEXW GHV DQQpHV SURYHQDLW GH O·DXJPHQWDWLRQ GHV VSpFLDOLVDWLRQVLQGXVWULHOOHVD\DQWLQGXLWXQHUHVWUXFWXUDWLRQJpRJUDSKLTXHGHVpTXLSHPHQWVGHSURGXFWLRQHWHQFRUROODLUHXQ pODUJLVVHPHQWSURJUHVVLIGHV]RQHVG·pFKDQJHV&HPRXYHPHQWWUqVPDUTXpHQWUHHWDXJPHQWDWLRQGHGH ODGLVWDQFHPR\HQQHHQ)UDQFHPpWURSROLWDLQHSDVVDQWGHjNLORPqWUHVDFRQQXSDUODVXLWHXQHSURJUHVVLRQUDOHQWLH (Q 3D\V GH OD /RLUH DSUqV V·rWUH VWDELOLVpH DX GpEXW GHV DQQpHV OD GLVWDQFH PR\HQQH GHV WUDQVSRUWV URXWLHUV GH PDUFKDQGLVHVDIRUWHPHQWUHFXOpHQWUHHWGHjNLORPqWUHV&HWWHEDLVVHSDUWLFXOLqUHPHQWPDUTXpHHQ

²HVWjPHWWUHHQUHODWLRQDYHFODSUpVHQFHDFFUXHGHVSDYLOORQVpWUDQJHUVVXUOHVORQJXHVGLVWDQFHVIDYRULVpH SDUO·RXYHUWXUHGHVPDUFKpVGRPHVWLTXHVHXURSpHQVGX750

²'HJUDQGHVGLVSDULWpVVHORQOHPRGHGHJHVWLRQHWODPDUFKDQGLVHWUDQVSRUWpH

/DGLVWDQFHPR\HQQHGHVSDUFRXUVHIIHFWXpVHQFRPSWHSURSUHHVWSUHVTXHWURLVIRLVSOXVIDLEOHTXHFHOOHGXWUDQVSRUWSXEOLF FRPSWHG·DXWUXLHQNLORPqWUHVFRQWUHNLORPqWUHV

'LVWDQFHVPR\HQQHVGHVIOX[URXWLHUVGHPDUFKDQGLVHVGDQVOHV3D\VGHOD/RLUHHQHW VHORQOHVHQVHWODQDWXUHGHO·RSpUDWLRQGHWUDQVSRUWHQNLORPqWUHV

&RPSWHGDXWUXL &RPSWHSURSUH (QVHPEOH

eYROXWLRQ eYROXWLRQ eYROXWLRQ

)OX[HQWUDQWV ² ²

)OX[VRUWDQWV ² ²

)OX[LQWHUQHV ²

7RWDO ² ²

&KDPSIOX[GHVYpKLFXOHVGDXPRLQVWRQQHVGH37$&WUDQVLWWUDILFLQWHUQDWLRQDOHWSDYLOORQpWUDQJHUQRQFRPSULV 6RXUFH62H66,75$0ILFKLHU750

Références

Documents relatifs

En 2014, 60 % du nombre total de permis poids lourds délivrés en Pays de la Loire ont été des permis C et C1, nécessaires à la conduite de camions de PTAC supérieur à 3,5

Les données présentées ci-après ne reflètent pas l’ensemble du trafic des Pays de la Loire : elles ne tiennent pas compte des flux qui ne font que traverser la région

En juillet 2015, 14,1 millions de voyages ont été recensés dans les trois principaux réseaux de transports publics urbains des Pays de la Loire (Nantes, Angers et Le

Les lignes en site propre : la moitié de la fréquentation régionale des réseaux collectifs urbains en 2014 Au 31 décembre 2014, sur les 3 500 kilomètres de lignes de

(Q UHODWLRQ DYHF OD GLPLQXWLRQ GH OD FRQVRPPDWLRQ XQLWDLUH GHV YpKLFXOHV OH YROXPH GHV YHQWHV HIIHFWXpHV GDQV OD UpJLRQ D SHX pYROXp DX FRXUV GHV

Les réseaux de transport public des sept agglomérations de la région de plus de 50 000 habitants (Nantes, Angers, Le Mans, Saint-Nazaire, Laval, Cholet et La Roche-sur-Yon) ont

* Demandeurs d'emploi de longue durée (inscrits à Pôle emploi depuis un an ou plus) Champ : catégories A, B et C (inscrits tenus de faire des actes positifs de recherche

Les habitants des territoires frontaliers ont également une faible consommation domestique de carburant par habitant car une partie de leur achat d’essence se fait dans les