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Keolis<br />
2009
<strong>RAPPORT</strong><br />
<strong>FINANCIER</strong><br />
DU <strong>GROUPE</strong><br />
<strong>KEOLIS</strong> S.A.S.<br />
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02
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<strong>RAPPORT</strong><br />
DE GESTION<br />
03
<strong>RAPPORT</strong> DE GESTION DU DIRECTOIRE<br />
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04
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
12 mois<br />
31/12/2009<br />
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05
06
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
07
08
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
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09
10
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
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11
12
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
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13
14
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
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15
16
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
COMPTES<br />
CONSOLIDÉS<br />
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17
A. CHIFFRES CLÉS DU <strong>GROUPE</strong><br />
<br />
2009 <br />
<br />
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<br />
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<br />
20 <br />
<br />
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18
<strong>GROUPE</strong> <strong>KEOLIS</strong><br />
B. ÉTATS <strong>FINANCIER</strong>S CONSOLIDÉS<br />
<br />
<br />
2009<br />
(12 mois)<br />
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<br />
19
2009<br />
(12 mois)<br />
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<br />
<br />
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<br />
20
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
Actif<br />
<br />
2009 <br />
<br />
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21
Passif<br />
<br />
2009 <br />
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<br />
22
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
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<br />
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Total<br />
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<br />
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<br />
<br />
<br />
<br />
<br />
23
2009<br />
(12 mois)<br />
<br />
<br />
<br />
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<br />
<br />
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<br />
24
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
C. NOTES ANNEXES<br />
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25
26
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
27
28
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
29
2009 <br />
<br />
<br />
<br />
<br />
<br />
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<br />
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<br />
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<br />
<br />
<br />
<br />
30
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
31
32
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
33
34
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
35
36
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
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<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
37
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009 <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
38
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
39
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
40
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
41
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
42
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Total<br />
Co-entreprises<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
43
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
44
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
45
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
46
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
2009 <br />
Taux Moyen Taux clôture <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
47
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
48
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
31/12/2009 <br />
<br />
31/12/2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Valeur dans l’état de<br />
la situation financière<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Juste valeur<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
49
31/12/2009 31/12/2009 <br />
<br />
<br />
Nominal Unité Juste<br />
valeur<br />
(k€)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Résultat<br />
de la<br />
période<br />
(k€)<br />
<br />
<br />
<br />
<br />
Valeur<br />
Comptable<br />
au bilan<br />
(k€)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
Actifs Passifs <br />
<br />
<br />
<br />
<br />
<br />
<br />
50
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
Actifs Passifs <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
COUVERTURE GBP Nominal (K GBP) Juste valeur (K EUR)<br />
<br />
<br />
<br />
<br />
<br />
<br />
51
COUVERTURE AUD Au 31 décembre 2009<br />
Nominal (K AUD)<br />
Juste valeur (K EUR)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
90% du cours gazole 110% du cours gazole<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009 <br />
Actifs Passifs <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
52
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
Au 31 décembre 2009<br />
Nominal (TM) Juste valeur (K EUR)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
90% du cours gazole 110% du cours gazole<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
53
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009 <br />
Actifs Passifs <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
Nominal (K EUR)<br />
Juste valeur (K EUR)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
54
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
Taux de marché -0,5% Taux de marché +0,5%<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
ANNÉE <br />
<br />
55
Au 31 décembre 2009<br />
<br />
À plus<br />
d’un an<br />
À moins<br />
d’un an<br />
Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
56
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
1 er janvier<br />
2009<br />
Dotation Reprises Variation de<br />
périmètre<br />
Autres<br />
mouvements<br />
31 décembre<br />
2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
57
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
France Royaume-Uni Canada <br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
France Royaume-Uni Canada <br />
<br />
<br />
<br />
<br />
<br />
58
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009 (12 mois) <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009 (12 mois) <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
59
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
UK France Canada Total<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
60
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
61
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Au 31 décembre 2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
62
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
63
64
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
65
66
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
67
68
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
69
70
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
71
72<br />
<strong>RAPPORT</strong> DES COMMISSAIRES AUX COMPTES
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
COMPTES<br />
ANNUELS<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
73
A. ÉTATS <strong>FINANCIER</strong>S<br />
<br />
<br />
Actif<br />
31/12/2009 <br />
Brut<br />
Amortissements<br />
et dépréciations<br />
Net<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
74
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
Passif<br />
<br />
31/12/2009 <br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
75
31/12/2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
76
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
31/12/2009<br />
(12 mois)<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
77
78<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
B. ANNEXE AUX COMPTES
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
79<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
31/12/2009<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
31/12/2009
Valeur brute<br />
en début<br />
d’exercice<br />
<br />
<br />
<br />
<br />
Valeur brute<br />
de fin<br />
d’exercice<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
80
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
Valeur brute<br />
en début<br />
d’exercice<br />
Valeur brute<br />
de fin<br />
d’exercice<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
81
82
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
83
84<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
31/12/2009
<strong>GROUPE</strong> <strong>KEOLIS</strong> <strong>SAS</strong><br />
<strong>RAPPORT</strong> DES COMMISSAIRES AUX COMPTES<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
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