Michelin Cie Gen Unsp/Adr

Ladies and gentlemen, welcome.

Mesdames et messieurs, bienvenue à cette conference call. Nous allons maintenant passer la parole à M. Florent Menego, président de la gérance, et à M. Yves Chapeau, directeur financier. Bonsoir, mesdames et messieurs.

Je suis très heureux de vous souhaiter la bienvenue pour cette présentation des résultats. Je voudrais tout simplement démarrer en... exprimant le fait que le changement dans l'environnement que nous avons pu voir en 2020, vous savez qu'en 2019, on a réellement vu un changement dans les marchés à travers le monde. Et cela par rapport à plusieurs points. Tout d'abord, il y a la question du changement climatique. Il est clair que quelque chose se passe et on a pu le voir avec les... Sandy, in California, in Australia, the hurricanes, the storms, the storms, the tsunamis, etc. So what we have been able to see is that it is not that there has not been any in the past, it is just that their frequency today has an important impact everywhere. The second thing that we have been able to notice in 2019 is that from a social point of view, there is a lot of tension. That is to say that throughout the world, whether in Chile, in Hong Kong, elsewhere, the Yellow Vests demonstrations in France, we see very clearly that there is actually a fraction of the population who today does not feel at ease with the direction that the world is taking. So why do I start with that? Well, because we think that 2019 has been a very high year, in fact, a year where there is more and more awareness about these issues. And in this environment, of course, Michelin did not wait until 2019 to act. We are the precursors in these events, of the game for fair competition around the world based on usage rather than being based on tax burden at the borders.