LE FIGARO. – How do you analyze the performance of Arkema?
Thierry LE HENAFF. – Our EBITDA in the second quarter is by far the best performance we've ever done. This shows the transformation of the company, whose effects had been masked by the crisis. Our net income in the quarter was equal to that recorded on all our best year in 2007. Arkema has turned a corner. We change category. After a sharp rebound in the first quarter, we have found in the second quarter activity level relatively close to its pre-crisis. Our turnover has increased by 27% at constant, a rate comparable to the leaders of the chemical industry.
What are the springs of your performance?
The chemical industry reflects developments in the global economy. We followed four strategic since 2005.Improving our competitiveness first. Late 2010, we have reduced our fixed costs by up to 10% of turnover, or 600 million euros in savings. Then, we placed more on Asia. We benefit from growth in China, where we have invested 300 million euros in a few years. Our goal is to achieve over 10% of our sales in this country in 2014, against 6% today. Third axis of our strategy, we have developed innovations in sustainable development and high performance materials. We draw therefore from the growing interest in photovoltaics, polymers used in automotive, new energy, lithium-ion batteries … Last Axis: the acquisitions to improve our business portfolio.We made a number of acquisitions in crisis, price crisis.
Is the crisis behind it?
Yes. 2007 and 2008 were years of historically high for the chemical sector. We got back on activity levels of 2005 and 2006, with the exception of the construction sector, for which we must remain attentive. We are generally confident about the rest of the year. There is still no recovery in the construction, some 15 of our trades eventually go less well, such as cars, but we will see an improvement on others, such as oil and gas.
Your French operations are profitable?
France is the country where we are least profitable. We have suffered greatly in 2009. This year is better, but there is still a gap compared to other countries. There is still work to do to improve our competitiveness.We must nevertheless note that we are making 50-60% of our investment in France.
Finding
affordable health insurance that meets the needs of you and your family can be a daunting task anywhere in the United States.
The British government announced austerity cure the biggest since the Second World War. The measures announced thus leave little room for surprise. On Tuesday before the Parliament, the finance minister George Osborne has announced that his government had a deficit of 1.1% in 2015-16 against 10.1% this year. This means that the deficit would increase from 149 billion pounds in 2010 to 20 billion in 2015/16.
To achieve this objective, the minister calls for reducing departmental running costs of 30 billion pounds per year by 2014-2015. The expenditure review will be presented to Parliament on 20 October. The salaries of public servants will be frozen for two years.Similarly, net borrowing of the state are scaled down to 149 billion pounds this year, six billion less than expected last week by the Office for Budget Responsibility (OBR), the new independent oversight body budget. The net borrowing should be reduced to 116 billion pounds in 2011-2012 to 89 billion in 2012-2013, then gradually to 20 billion in 2015-2016.
Among other measures announced: an increase in VAT, which will be increased to 20% from January 4, 2011, against 17.5% currently. "By the end of the mandate of the current Parliament, this measure alone will bring more than 13 billion pounds per year of additional revenue. This is 13 billion pounds that we will not find a reduction in spending or a tax increase on income, "he said. The tax on capital gains will also spend 18% to 28% from midnight.
The government also plans to raise the legal age of retirement at age 66. Similarly, a decline of social protection spending is projected to save 11 billion pounds by 4-5 years.
Tax on banks
In addition it will create a tax on banks apply from January next year to British and foreign institutions. This new tax will be calculated on the basis of the balance sheets of banks and mutual groups and British subsidiaries of foreign banks' local payday loans for self employed. "Once fully in place, we expect that the tax will generate more than two billion pounds of annual revenue," he said. The Alcohol, tobacco and fuel will not be taxed.
Changes are also in the agenda on taxes.George Osborne announces plans to cut one percentage point per year for four years the corporation tax to bring it to 24% against 28% currently. "This will give us the lowest rate of major Western economies and the lowest rate of G20," he added. Tax relief for 23 million taxpayers paying the lower tax bracket (20%) will be increased by £ 1,000 in April 2011, allowing them to save 170 pounds each. "The burden" will be "fairly shared", according to the minister.
Growth revised downwards
This budget "emergency", described as "inevitable", will impact on growth of the United Kingdom. The British economy should grow more slowly than expected due to fiscal consolidation. Growth in 2011 is revised downwards to 2.3% in 2011 against 2.6% expected by the OBR.But the minister provided an acceleration thereafter: 2.8% in 2012 and 2.9% in 2013.
"We are on track to reduce debt and achieve a structural budget balance by the end of this legislature, George Osborne promises.
Rejection of the Euro
George Osborne in the wake on Tuesday announced the dissolution of the service of his department who was assigned to work on a possible accession of the United Kingdom to the euro. "I can confirm that, as stated in the coalition agreement, this government will not adopt the euro during this Parliament.So I put away the Treasury Department responsible for preparing for the euro, "he told the House of Commons.
The new government combining conservative and liberal Democrats from the legislative elections of May 6, had promised in his coalition program that the United Kingdom does not adopt the euro and making no such move during the term.
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LE FIGARO – The backbone of "retirement" is specific to staff align their contribution rate over that of private sector employees. Why?
Georges Tron – We want a clear and equitable reform. Nothing justifies to contribute three points behind, having comparable pensions. This represents an increase of 6 euros of contributions, on an average salary of 2000 euros a month for ten years.
The calculation of the pension on the last six months of salary, instead of twenty-five best years, is also a symbol of inequity for the opinion …
Wrongly so, if you look calmly at things! We are in a very specific body, grades, levels, indices, with premiums that are excluded from the calculation of the pension.The only question worth asking is: these rules they generate large differences in pay and pensions? The answer is no.
Why have kept "active groups" instead of applying to civil servants the opportunity to retire early for hardship, which will soon be applied in the private sector?
Occupations in uniform (police, firefighters, prison guards …) can effectively retire at 50 or 55 years. It is an old way to take into account how hard these jobs, which nobody denies. The classes are kept active but these floors will be carried over age two years, as for everyone.
You open next Friday, a salary negotiation. Bercy pushes you to a freezing point index.The 0.5% increase for July 1, promised two years ago by Éric Woerth, Will it be good?
While it is important to keep its commitments, we must be lucid about the state of public accounts. This first session will assess the progress of the purchasing power of workers in 2009 and expected for 2010. Based on this diagnosis, I hope shared with the unions, we will be open to discussion. One thing is certain: the issue of pensions is, Eric Woerth and I disconnected from that of wages. There is no question of compensating the first by the second. This would immediately cancel the legitimate efforts and gradual asked officials on pensions, that nobody would understand.
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After the sharp market downturn in Paris last weekend, with the Cac 40 lost nearly 7% in 48 hours, optimism is in order at the beginning of the week Award paris.le CAC 40 is up 0.89% to 3595 points.
On the macroeconomic front, gross domestic product (GDP) of France is expected to grow by 0.5% in first quarter 2010, according to a first estimate of the Banque de France (BdF) on Monday.
The latest forecast from the National Institute of Statistics (INSEE) published December 17, the economic recovery in France will confirm in early 2010 but will be "laborious and delicate, with a growth of around 0.3 % to 0.4% per quarter until midyear.
The government recently revised upward its growth forecast for this year, rose 0.75% to 1.4% in the revised budget.
INSEE has published Friday its first figures on French growth in the last quarter of 2009. The government forecasts a GDP drop of 2.25% over the last year.
The detailed values to follow.
Five-star hotels in France? Yes, it is possible since the introduction in June by the government, a new classification. The list already has sixty places, especially in Paris, Courchevel and the Cote d'Azur. For hotels, a small revolution is underway. Their institutions were previously rated by criteria that had not changed since 1986 and they did not understand that the fifth star has long existed abroad. The world record is held even by a hotel worthy of megalomania, the Atlantis Palm in Dubai, which displays seven stars!
"In Portugal, there are 6 star hotels which are no better than our 4-star, said Georges Panayotis, founder of research firm and consultancy MKG.And even for congresses, the French destinations were penalized with no five-star hotels for VIPs. "
According to Herv? Novelli, Secretary of State for Tourism, some 200 hotels could eventually claim win five stars, including 30 to 40 with an additional distinction reserved for best of the best, the "palaces".
But the goal that the government had set, finished 2009 with a hundred five-star hotels will be missed. "The application process was somewhat longer than expected. But the candidates are there, "he defends one in the entourage of the Minister where there promised that the establishment of a new procedure will go faster next year.
"It's not very complicated to have the fifth star, half of the 750 four-star hotels can claim without doing much work, yet adds Georges Panayotis.But with the crisis, many are reluctant to ask. Applicants were fewer than expected. Be a candidate takes time and money. Vis-?-vis a business clientele, this is not the time to raise prices and display an image of luxury. Some employees have instructions from their companies do not reside in five star hotels. "
Then there are the unsuccessful applicants. Reportedly, about 15% of cases were retoques.Among the mandatory criteria, which require the most hoteliers questioned: the size of rooms, room service 24 hours on 24 or even the use of two languages by staff, including English.
A bid of 70 000 ?
In the district of Saint-Germain-des-Pres in Paris, the Hotel Bel Ami (four stars) was in the starting blocks in the month of June to submit an application. He has still not done, but considering the first quarter of 2010. "Other priorities have taken over as the work of redecorating in a few rooms," says Vincent Tissier, Director General. But we remain candidates, while some of our competitors are reluctant because of the economy. "To comply with the new schedule, he has already made investments. He equipped the rooms with a service and an extra chair.It also increased the number of electrical outlets, bought lamps and roof rack. "For us it is an application to ? 70 000," says Vincent Tissier.
The hotel part with a disability are 15 rooms for less than 24 square meters, the minimum area required. "We do not fulfill all mandatory criteria, but we have our chances because we can compensate this problem by gaining points optional," says its director. In Bel Ami, there is indeed "a spa, meeting rooms, a hall larger than the minimum required, a team of janitors, many more points for the fifth star. Whatever happens, Vincent Tissier is serene: "For teams, it would be a satisfaction. The U.S. travel agencies are also susceptible.But the provision of Bel Ami and its price will not change. "
Avenue des Champs-Elysees in Paris, the Fouquet's Barri?re was among the first to win his fifth star in June For this, he installed air conditioning and WiFi in the restaurant Fouquet's classified and bought 27 blankets. The hotel was rated four-star luxury since its opening in October 2006. "As we were the last to arrive on the market, we wanted to be the first to have five-star hotel with a very good note," said Eric Boonstoppel, general manager of the Hotel Fouquet's Barri?re. We have lost a few points marginalized because, for example, the telephone line is directly in the room on request. Vis-?-vis our international customers, visibility and legibility are important. But we do not mean increased prices.If the government wants to create a category "Premium" We are ready! "
Five billion euros under the Christmas tree. This is the estimate by the Federation of e-commerce and distance selling (Fevad) for the raw end of year 2009 online sales. This represents an increase of 25% over the same period last year, a pace in line with that of the growth in the first nine months of this year (27%). These figures confirm a healthy e-commerce that does not suffer from the downturn.
If retailing is experiencing a decline of 2.5% of its business between January and September by the Bank of France, users keep themselves, morale and fever spendthrift. 88% of those who have already bought on the Internet for last Christmas even say they intend to spend as much or more this year, according M?diam?tire.Among the preferred gifts, there are cultural products, games and toys, hi-tech, apparel, equipment for home and beauty products. According to GfK, the share of sales on the Internet for consumer electronics will reach 12% (against 6.6% in 2006) and the cultural products of the total 7.2% (against 4.6% in 2006).
Overall, electronic commerce should weigh around 25 billion euros in turnover this year. In comparison to 18.5 billion euros earned last year by supermarkets and hypermarkets in France Casino or 42 billion for Carrefour.Another point of comparison, sales of high-tech and Internet cultural approach of 3 billion euros this year, compared to 4.5 billion in sales of Fnac last year.
23 million buyers
The health sector due to the rapid development of habits. "We still have new customers because France is still playing catch up in equipment for homes, said Marc Lolivier, general delegate of the Fevad. Meanwhile, the number of commercial sites is growing rapidly, with two new every hour. "Overall, we approach the 60 000 sites of e-commerce assets. For "pure players" in the first hour followed by "order preparers' successor is currently a third wave of actors composed of large store chains that go into high gear on the Web.But even at constant perimeter, sales are up 6% in one year. The France now has 23 million online consumers, up from 43% in three years. Nearly seven in ten users have bought online. The trip, the high-tech and culture are the three main areas of e-commerce, joined forces in more recent fashion, household equipment and cosmetics.
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Gold, placing anti-crisis par excellence, in senators' crosshairs. Tenants of the Palais du Luxembourg in fact want to submit the sales of precious metals – gold, but silver jewelry and works of art to the general social contribution (CSG), revealed Thursday "Le Parisien". Supported by the Social Affairs Committee, but considered "difficult to implement technically" by the government, this new tax, which should be passed in the day aims to bridge the deficit in Social Security. In detail, if the measure is adopted as from 1 January next year, each transaction will be taxed to the tune of 8.2%. For example, the sale of a jewel worth 200 euros, Social Security will receive 16 euros CSG. With this new tax, the senators hope to get a "few million" each year.
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