20 Billion euros of revenue in ten years 12

How Thales

The Group continues its transformation to increase its share of international activity. But we are experiencing the consequences of the lack of rigour in the taking of certain contracts before 2008. Currently, the priority is relief, before boosting growth. On aircraft A400M and Meltem, or program management of tickets to the Denmark, despite progress on the operational aspects, significant financial and contractual issues outstanding. The margin improvement may therefore be very progressive, including in 2011. The year of truth will be 2014, with the completion of the Probasis performance plan. I am very confident in the capacity of rebound of Thales. 20 Billion euros of revenue in ten years 12.9 billion in 2009, Editor's note is quite at hand.

The plan that you have started is 1.3 billion euros in savings here to 2014. Where are you

We are in line with our objectives, which are realistic and necessary. A little more than 500 action plans have been developed. Some have effects very short term, for example policy shifts, others in the medium term. This is the case computer or processing of the throughout, which may change only gradually. The benefits of a more refined management of contracts does will really be felt until 2013.

Thales will remove up to 1,500 positions in France, and other countries might follow. Do you fear to go further, given the cuts in defence budgets

This evolution of defence budgets is fairly recent. It has therefore been integrated in part. The General discourse is known, but the world of the defence is marked by a strong inertia. The United Kingdom, we have a clear vision on major programs, but for small or average, we should still wait a few months. In France, after the stimulus plan and 2009 multi-year orders, who represented 1 billion of outstanding orders, we infer from what we hear or read that budgetary pressure may be sensitive for many years. Therefore, we are still far from know precisely where reductions will be.

Will what message you go to the new Minister of defence, Alain Juppe

I will meet him soon. For our sector, the essential subject deals with the maintenance of technological skills through research contracts. It is already the case, it will be even more in a constrained fiscal environment.

After a strong challenge, then lull, it appears that the reorganization of Thales creates new whirlpool. The brain drain would continue. What is your analysis of the situation

Our employees have more confidence in our success as what some want to believe. What I live, are the frequent encounters with them in France and abroad. I answer their questions without taboos. Changing leaders were really necessary, because our current economic difficulties back almost all contracts made by the previous team. Of course, the implementation of our new organization assumes a significant cultural change in a House which was fortunate not to have to live such a change for a long time. Collaborators include the logic of what we do because, like us, other groups re-deploy in emerging markets. The teams are now in place and processes defined. I want also to pay tribute to adaptive capacity and responsiveness of the staff of Thales in a phase of change also determinative. Thales rediscovers the salt of the challenge and we all want to succeed.

Don't therefore generalized malaise

I visited more than 40 sites in the past year, and I feel no discomfort in Thales. I feel the concerns related to the evolution of the market, which is itself felt by all of our colleagues. States of mind are very minority and the majority of the House is in motion.

You always have the support of your large shareholders, Dassault and the State

Always. I am very confident in this field.

That you reply to those who reproach you thinking that costs and do not propose strategic vision

I say that we have confirmed in 2009 the objectives defined prior to my arrival. Thales strategy is therefore part of continuity, while refining the vision of my predecessor Denis Ranque, Editor's note. Thus, we will continue our investments in all of our businesses, including radars, cyber security, or avionics. The growth will come from the products, without excluding external growth... The US market is one of those where you want to develop, through targeted acquisitions of small or medium-sized enterprises.

Thales has an option to increase from 25 to 35 in DCNS. Will you exercise it

This option runs until end of March 2012. DCNS is a very nice company, which I visited sites, and with which we cooperate, in drones, including. But nothing press and we will continue to observe the evolution of DCNS, through its plan of transformation "championship" and its prospects for export, in particular. It will be seen when the time comes.

Do you intend to go beyond 51

The question is not on the table. It does therefore not arise.

Can the restructuring of the French sector of ammunition bring a rapprochement with Nexter

Our activities in this sector are doing well, there is therefore no need to move quickly. In a more comprehensive way, Thales has 500 million euros of revenues in the armaments. It is ridiculous. The evolution of Nexter, therefore, cannot leave us indifferent. But, again, the question is not beyond.

Is the arrival of Alain Juppe to relaunch discussions on Exchange of assets with saffron

It is not necessary because we are open to discussions, on the basis of the contours of Optronics.