4 COMMENTAIRES SUR L’EXERCICE
Principaux investissements et désinvestissements effectués
Principaux investissements 4.3
et désinvestissements effectués
Métier
Description des investissements
* ">LMBHG =`:
-:IIKHF>GM =>L : @>LMBHG M:NQ >M :LLNK:GMB>EE> =`*LMKNF LL>M (:G:@>F>GM >M => ': :GJN> +HLM:E> LL>M (:G:@>F>GM ?BG:EBLo E> fH
> K:IIKHF>GM F:KJN> E: :=>K => E: ">LMBHG =`:G NKHI> :O>< IENL =>
fFBEEB:K=L =`>NKHLf=`>GM IENL =>
fFBEEB:K=L =`>NKHLf:=FBGBLMKoL k MK:O>KL L: IE:M>?HKF> =>fL>KOB<>L k ?BG L>IM>F;K>f
* ">LMBHG =`:
I:KMB =:GL E: LH @>LMBHG :FoKB<:BG> 2 ( $GO>LMF>GM (:G:@>F>GM 2 ( >Mf =BLMKB;NMBHG BGM>KG:MBHG:E HG I:KM>G:KB:M LMK:Mo@BJN> :O>< !B>K: :IBM:E E: IK>FBnK> IE:M>?HKF> => =BLMKB;NMBHG BG=oI>G=:GM> :Nf :G:=: >M : I:KMB => f k LHG <:IBM:E (:LL>G: +:KMG>KL LH @>LMBHG >M => BEL >G BGO>LMBLL>F>GM I:KM>G:BK> => ):MBQBL 2>:EMA (:G:@>F>GM =>INBL
f:GL >MM> HIoK:MBHG I>KF>M k ):MBQBL 2>:EMA (:G:@>F>GM => L> K>G?HK<>K =:GL E>L =HF:BG>L =NfIKBO:M> >JNBMR >M =>L :EL BFFH;BEB>KL >G >G <:IBM:EBL:GM LNK =>L I:KM>G:KB:ML GHNoL => EHG@N> =:M> >GMK> (:LL>G: +:KMG>KL >M =>L :NKL => Ko?oK>G<> =:GL <>L =HF:BG>L E: LHQI>KM =N NKHIo>G =:GL E> <:=K> =N =oO>EHII>F>GM => E`H??K> => ):MBQBL $GO>LMF>GM (:G:@>KL >G =>MM> IKBOo> $GO>LMBLL>F>GM LMK:Mo@BJN> =:GL 1>KFBEEBHG +:KMG>KL >G ABG> =:GL E> <:=K> =N K>G?HK<>F>GM LMK:Mo@BJN> => ):MBQBL =:GLfE>f=HF:BG> =N BE >G !NLBHGL LMBLL>F>GM LMK:Mo@BJN> =:GL !>GKL :N -HR:NF>
0GB =:GL E> <:=K> =N K>G?HK<>F>GM LMK:Mo@BJN> =>f):MBQBL =:GL E> =HF:BG> =N BE >G !NLBHGL LMBLL>F>GM LMK:Mo@BJN> =:GL EBII>KMHG >G !K:G<> =:GL E> <:=K> =N K>G?HK<>F>GM LMK:Mo@BJN> => ):MBQBL =:GL E> =HF:BG> =N BE >G !NLBHGL G:KB:M => EHG@ M>KF> >G ON> => K NG :NK F:C>NK >G NKHI> GM:E> LNK E>L FoMB>KL =`BGM>KFo=B:MBHG :Mf=>fIKBF:BK> : I:KM>G:KB:M L> MK:=NBM I:Kf E> MK:GL?>KM =>L :KFo=B:MBHG :M => K>K : ):MBQBL >G !K:G<> S * * #!f V E> K>@KHNI>F>GM =>L : F:K :G !K:G<> =>L =>NQ >GMBMoL S ):MBQBL V +KBL> => I:KMB =:GL SNK> :IBM:E LH BE >G ?NLBHGL
:G NLMK:EB>
">LMBHG =`:
:GJN> +KBOo>
"
* ">LMBHG =`:
"
"
"
"
+:B>F>GML
E: I:KMB
f => E: :GJN> +HLM:E> =:GL /BMK>L :=>:NQ
+:B>F>GML
L f =>L :LM:GM>L => :E>GRL LNBM> k E`*+ >M :N LJN>>S>
HNM
+:B>F>GML
=>
=> E: LH =HF:BG> =>L I:B>F>GML IKoI:RoL IE:M>?HKF> EH@BEE> k =>LMBG:MBHG =>L GMK>IKBL>
-;L ;CFF?OLM >?M =?MMCIHM IHN wNw wA;F?G?HN Lw;FCMw?M
Métier
Description des désinvestissements
* ">LMBHG =`:
oL>G@:@>F>GM :GGHG ):MBQBL $GO>LMF>GM (:G:@>KL => L: I:KMB
f :N <:IBM:E => E: LHM (:G:@>F>GM >MM> HIoK:MBHG >LM LHNFBL> k E`>Q:F>G >M k E`:IIKH;:MBHG IKo:E:;E> =>L :NMHKBMoL Ko@E>F>GM:BK>L GM>L >LLBHG :GGHG => f =N <:IBM:E => H?:<> k KNK :FoKB<:BG LIo IK>FB>K IE:G ':fKo:EBL:MBHG => E: MK:GL:LM LHNFBL> k =>L EE>L GHM:FF>GM E`H;M>GMBHG =>L :NMHKBL:MBHGL Ko@E>F>GM:BK>L K>JNBL>L
):MBQBL
*
):MBQBL
>LLBHG =>L >GMBMoL >Q>Km:GM E>L FoMB>KL => ;:GJN> => =oM:BE k +
">LMBHG =`:
>LLBHG => E`: =BLMKB;NMBHG <:G:=B>GG> k !B>K: :IBM:E
">LMBHG =`:
>LLBHG => :KBNL :IBM:E
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NATIXIS DOCUMENT D’ENREGISTREMENT UNIVERSEL 2020