[Foreign language] Good morning. For this new press conference on the results of 2024, as we do traditionally, we're going to begin with a few beautiful pictures summarizing the activity of 2024. On the 8th of January 2024, the last tranche of 18 Rafale for Indonesia came into effect. It follows the first and second tranches of six and 18 Rafale, thus completing the number of aircraft on firm order for Indonesia under the contract signed in February 2022 for 42 Rafale. Indonesia is a new military customer for the company. Dassault Aviation was voted best employer in the French aeronautics, rail, and naval sector in the Statista 2024 ranking for the magazine Capital. Dassault Aviation is also one of the top three preferred companies in the industry segment among young students and young graduates, according to the 2024 Epoka ranking all schools combined. We're also second as the benchmark employer among young graduates of engineering schools in all sectors. According to the Swedish research firm Universum, Dassault Aviation remains the fourth most preferred company among engineering students in 2024, regardless of the sector. Dassault Aviation, Dassault Falcon Service, and Groupe ADP joined forces to make Paris-Le Bourget a pioneering airport in sustainable aviation. The five-year protocol strengthens their efforts to reduce carbon emissions in many areas, including the supply and use of sustainable aviation fuel, electrification of all ground operations, including refueling, taxiing, and towing, and the use of geothermal energy to power the airport's buildings and hangars. The protocol also contains a section aimed at increasing the attractiveness of Paris-Le Bourget for its employment pool. On the 7th of February, the supervisory board of the Groupe Industriel Marcel Dassault, chaired by Thierry Dassault in the presence of Marie-Hélène Habert, Helena Meilhan-Dassault, and Laurent Dassault, unanimously decided to appoint Éric Trappier as chairman to succeed Charles Edelstenne. This succession took place on January the 9th, 2025. Éric Trappier retains his position as chairman and CEO of Dassault Aviation. In the presence of senior Egyptian authorities and representatives of Dassault Aviation, a ceremony to celebrate the 10,000 flight hours of the fleet of Rafale fighters was held in early March at the operational air base, where the Rafale squadron of the Egyptian Air Force is stationed. After an initial order in 2015, which made Egypt Rafale's first export customer, followed by second in 2021, the Rafale has now reached a new milestone thanks to the Egyptian Air Force. The very first edition of the safety trophies took place on Tuesday, the 9th of April, in Saint-Cloud. This ceremony rewarded five people who, through their actions, have helped improve the safety of our products. It is by promoting virtuous behavior at all levels in our company that we set the best example in terms of safety culture. Safety is everyone's business. Again this year, the Dassault team won the Course du Cœur, a challenging sporting event dedicated to organ donation. The employees of our various sites proudly upheld the values of our group, tenacity, performance, surpassing oneself, and team spirit. The first six Rafale that Croatia ordered from France in 2021 took off on the 25th of April from our Mérignac plant and headed for the operation Air Base 91 near Zagreb. These aircraft were flown by Croatian pilots. The formation of a full squadron of 12 aircraft is planned for mid-2025. The 24 Rêve de Gosse II, in partnership with Dassault Aviation, took off on the 10th of May from Strasbourg and landed on the 18th of May in Perpignan. An aerial tour de France, and all for a good cause: to make the dream of underprivileged and disabled children come true. The volunteer crews from our Saint-Cloud and east sides contributed to this adventure. Our company participated in the EBACE event, which was held at the end of May in Geneva. On display were a Falcon 2000LXS, a Falcon 8X, and a Falcon 6X, our latest aircraft. This new aircraft is highly appreciated by our customers and pilots for its impressive flight qualities and incomparable cabin comfort. On the stand, visitors were able to admire the full-scale model of the Falcon 10X, as well as various areas dedicated to the interior fittings of our aircraft. As part of its major recruitment plan, Dassault Aviation notably participated in the 2024 edition of the Rêve du Cœur event in May in Royan. Our stand presented technological workshops and offered visitors valuable interactions with our employees. A great opportunity for young people interested in a career in aeronautics. [Foreign language] [Foreign language] [Foreign language] [Foreign language] It was coordinated by the colonel of space, which concluded with fireworks and a ballet of unmanned aerial vehicles. The Serbian Minister of Defense signed a contract on August 29th in Belgrade for the purchase of 12 Rafale jets to equip the air defense in the Serbian Armed Forces. Serbia is the eighth Rafale export country and the third in Europe. It had never operated Dassault fighters just before. This new order once again demonstrates the interest that the Rafale elicits among countries concerned about their sovereignty. Sébastien Lecornu, French Minister of the Armed Forces and Veterans, announced the development launch of the unmanned combat aerial vehicle that will complement the future Rafale F5 standard. The F5 standard is a real revolution for air forces. Although it will be based on the same aircraft, the Rafale, it is a change which is at least as radical as the transition from Mirage 2000N to the first Rafale. This revolution reflects the rapid growth of connectivity to carry out all the operational missions of the French Air and Space Force. The Rafale in its F5 standard will interact with other sensors and remote effectors on the ground, in flight, and in space. Built on the achievements of the nEUROn program, this UAV will be complementary to the Rafale and suited to collaborative combat. It will incorporate stealth technologies, autonomous control with man-in-the-loop, internal payload capacity, and more. It will be highly versatile and designed to evolve in line with future threats. This ambition and exciting program confirms Dassault Aviation's leadership in combat aviation in Europe. This announcement was made at a ceremony celebrating the 60th anniversary of the French Strategic Air Forces at the Saint-Dizier Air Base in the presence of Éric Trappier and General Jérôme Bellanger, Chief of Staff of the French Air and Space Force. On the same day, Sébastien Lecornu and Éric Trappier inaugurated a Mirage IV installed at the foot of the Charles de Gaulle Memorial in Colombey-les-Deux-Églises. A patronage agreement was also signed by Éric Trappier and Hervé Gaymard, President of the Charles de Gaulle Foundation. Since 1964, Dassault aircraft have contributed to nuclear deterrence in line with General de Gaulle's wishes. We have equipped the French Strategic Air Forces with the Mirage IV, the Mirage 2000, and the Rafale. In mid-October, a Rafale Marine test campaign took place on the Charles de Gaulle aircraft carrier. This campaign was aimed to validate the deck landing assistance features developed as part of the F4 standard. Dassault Aviation participated in Euronaval exhibition organized in early November in the North of Paris. In addition to the Rafale Marine, the company showcased its expertise in maritime surveillance. On January 13, 2025, General Christian Baptiste, National Delegate for the French Order of Liberation, officially thanked Éric Trappier for the help provided by Dassault Aviation in purchasing a silver slipcase decorated with a Liberation Cross containing the list of companions of the liberation. This case was purchased during the public sale of de Gaulle's succession effects in Paris with the support of the Society of the Friends of the Museum of the Order of Liberation. Dassault Aviation is a patron of the Order of Liberation. The Dassault Group is also one of the patrons which enabled the French Minister of Culture to acquire writings by General de Gaulle to the benefit of national collections. Falcon 2000LXS Albatros successfully completed its maiden flight on January 24 in Mérignac. It's a key milestone of the AVSIMAR program, which aims at renewing the new French Navy's fleet of maritime surveillance and intervention craft. The seven aircraft ordered by the French Ministry of the Armed Forces will be delivered as from 2026, and they should be followed by five additional aircraft in the optional tranche. Equipped with cutting-edge equipment and systems, the Albatros will be a valuable asset for the French Navy in a broad spectrum of missions, including search and rescue, fisheries enforcement, and the fight against pollution and trafficking. On January 30th, Éric Trappier received the Strategist of the Year award from French Prime Minister François Bayrou. Created in 1989, this award recognizes a business leader selected by readers of the newspaper Les Échos and by a jury of French industrial and economic leaders. Dassault Aviation participated in the Aero India Show from February 10th to February 14th, 2025. Two one-fifth scale models were presented on the stand: the Rafale C, Indian Air Force, as well as the Rafale Marine. We were also present at the IDEX exhibition in February in Abu Dhabi, in the United Arab Emirates. A few days earlier, Éric Trappier had unveiled in Istres the first Rafale produced for the United Arab Emirates Air Force in the presence of the French Minister of the Armed Forces and the UAE Minister of State and Defense Affairs. These aircraft will be used by the Dassault Aviation Flight Test Center for the development of the UAE standard. Deliveries of Rafale aircraft to the UAE are scheduled for the end of 2026. This first Rafale produced in accordance with the contract schedule demonstrates Dassault Aviation's commitment to meeting its customers' expectations. [Foreign language] Just a few words before going on to the questions, the Q&A session. First, the environment, the context. As you know, the world is not very stable at this moment. There's still a war in Ukraine, although there might be a ceasefire quickly or not. The good news is that inflation has gone down, and what is worrying, and it's good news for our economy, though, although there is a lot of political instability in France, the government has avoided all the censures, and we have a budget, which is a good thing, but in spite of all this, the instability is still there in France and will continue until the next presidential elections. But the most important point and the most concerning, which disrupts this feeling of stability, is the arrival of the new Trump administration, which is questioning a certain number of economic points with the customs taxes that are worrying a lot of economic players in France too, and a redetermination of the alliance between the United States and France, a redefinition of our relations with the United States. So you saw it in the film. The first Rafale for the UAE was presented in Istres with an important delegation from the UAE. We wanted to celebrate this date for the flight tests. The UAE have ordered 80 Rafales that will be delivered from 2026 onwards. The highlights for 2024, there is this success of the Rafale, which is an ongoing success. 30 Rafales have been ordered, the 12 for Serbia and those for Indonesia, in addition to the ones they had already ordered. So on the whole, they'll have 42. The ramping up of our supply chain, this is being done. We have delivered 21 Rafale, considering our guidance, which was 20 and some, unlike what some people have said. So it was difficult, but we are keeping our commitments and a delivery of 31 Falcons at the same time, with a little more difficulties in the supply chain and the arrival of the Falcon 6X. So the 31 is slightly under our forecast of 35. The net sales was above EUR 6 billion. It landed at EUR 6.2 billion, and a record backlog. The one last year was also a record backlog, above EUR 42 billion. Difficulties in the supply chain, a lot of subcontractors have difficulties, and this is disrupting our supplies. And it's also disrupting our production lines. It is a whole sequence of difficulties. So we have to support them. We are supporting them. It's not just Dassault. It's also Airbus and the whole sector that is going through difficulties. So we have the GIFAS that is controlling everything, that is trying to track the subcontractors who have difficulties. We have the Aerofund that has been renewed and that can help in case they need additional equity. And we at Dassault, we have help that we provide to our subcontractors. We send our staff to help our subcontractors carry out their work, or we redesign just to find new suppliers to make up for those who have difficulties. And we try as early as possible to detect those that could have difficulties. It can still last. It isn't over. It can go on in 2025. We hope that things will improve in 2026, but we'll still have to fight in the sector in 2026. And this is true for civilian aircraft and military aircraft. A few words about our program in France. In 2024, 234 Rafale were ordered in France. To this number, we have to remove the 24 Rafale that were ordered, which are pre-owned aircraft ordered by Greece and Croatia. And we'll talk about the exports afterwards. In 2024, we delivered 14 Rafale, so we still need to deliver 56 within the framework of the current orders. We are continuing the development of the F4 standard. You saw that the first Emirates Rafale follows this F4 standard. And the French Minister of the Armed Forces, and this was well described in the film, showed their determination to launch the future Rafale F5 for 2030. We will use our unmanned combat air vehicles based on the nEUROn. This was done in cooperation with six countries. Rafale export, 273 orders, plus the 24 pre-owned aircraft that have gone from the French stock to the export stock. That is 300 Rafale aircraft for exports, with 18 Rafale in our orders in 2024 for Indonesia. It will go up to 42, and Serbia has ordered 12. Serbia and Indonesia are two new countries for Dassault, two new customers for Dassault. We have eight export countries that have ordered Rafales. That is nine, including France. We are prospecting at this moment. I am trying to answer your questions in advance. The Rafale for the Indian Navy should be signed soon, and there are other discussions around the world. We have delivered seven export Rafale in 2024, and that comes up to 21 if we add it to the 14 French aircraft. It's been a long time we hadn't delivered so many French aircraft. And I think that would be the same order of magnitude for next year. Support, we have new Rafale countries. So we have greater support for exports, but we have to strengthen our support to France. France has deployed aircraft because of the conflict with Ukraine to secure neighboring countries that are in Europe and that are part of NATO. So we have to support the French forces and deploy new teams in the countries using Rafale. And this increasing support will be pursued because Rafale will reach the UAE, Indonesia, and Serbia beyond the countries where it is already operational. Future combat air systems, h ere in Saint-Cloud, we are pursuing the development of the NGF. It's a demonstrator. The phase 1B is underway. This is the definition phase, and the next step will be to see how we can contractualize the phase II of the NGF with our authorities. The mission aircraft you've seen in the film, the Archange aircraft with the Falcon 8X, a third aircraft has been ordered, in addition to the two others. AVSIMAR is the first flight. There was the first flight completed in Mérignac, and the rest is carried out in Istres, and these surveillance aircraft are expected by our armed forces in the coming years. For exports, we've delivered the third and fourth Falcon 2000. These are green aircraft that will be equipped locally in South Korea by the Korean authorities and the Korean industries by electronic war equipment. The Falcon context, 26 orders, slightly better than last year. The deliveries, 31, slightly under what we were expecting, slightly above what we had last year, so we still have difficulties delivering, and there's the arrival of this new aircraft, the 6X, that was certified at the end of the summer of 2023. It was commissioned in the beginning of 2024. This is the beginning of the life of this new Falcon 6X, and it is being ramped up in terms of manufacturing, and we're continuing the development of the Falcon 10X. For the 10X, we had the demonstrator that flew for more than 1,000 hours for demonstrations. It's not just flight. We had passengers on board so that they might get the feel of the Falcon 10X. We have very good passenger feedback, and orders are arriving and are strengthening our orders. Once we'll have solved all the manufacturing issues, we'll be able to accelerate the number of orders. The 10X, you see a picture of the 10X in Mérignac. It's being mounted. It's the first aircraft. This is the one that will carry out the flight tests. We have reviewed our schedule at the beginning of 2024, and we are online now with the schedule for the first deliveries at the end of 2027. I will not say more today, but I think we will talk about this again in 2025. Falcon support, well, here again, we have to have support from our customers. 2,200 aircraft flying around the world. The main difficulty is related to the supply chain. We need to have some help from suppliers who are going through difficulties, and the support team has to help them. Right now, there aren't many major issues. Here you have a picture of the jet, and we carry out the repairs on time. Decarbonization, it is ongoing. I'm not going to go back to what I said the previous years. I just have to make a comment. I feel that the more we are virtuous, the less we are recognized. So I'm wondering if we should not be so virtuous to be recognized. So I'm leaving you to think about this. We're putting SAF in our aircraft. We're using sustainable aviation fuel in our aircraft. But there is still a lot of aviation bashing when our French aeronautical industry, in general, not just Dassault, is one of the flagships. But they are still bashing on the French aviation. They are adding standards. They're adding things in spite of all the work carried out, and the European Commission is also doing more. This term taxonomy, I would like to get rid of it from my vocabulary. I wish we had never had this word. There was the taxonomy that was pointing at us because we were manufacturing French European weapons. I think that today, these people will question what they've done and not just put aside this social taxonomy, but they will realize that we have to manufacture weapons in Europe if we want to defend Europe and not just by. Same for business jets a n American business jet in Europe is not penalized by this taxonomy. Dassault Aviation is penalized by the European taxonomy. I think this is scandalous. We have made a request to the European Court. We are using SAF. We are manufacturing, using aircraft that can use SAF. We should be recognized by the taxonomy. And all these stories on taxonomy, these are political issues driven by some, and this goes against European sovereignty. The carbon footprint, we are trying to bring it down. I'm criticizing the taxonomy, the CSRD, some of the standards that are imposed upon us, but we're working on the environment. We're trying to make our plants, our aircraft greener and be able to emit less CO2. So we are committed a nd I think we should not blame the industry. Hiring, we have hired a lot of people in 2024, 2,400 new hirings. This is creating more business because you have to train these newcomers. And since we already have a lot of work, there is good attention among the teams. They have to get used to the Dassault DNA. These are large groups of newly hired people. You saw that there was a slide on safety. We are in aviation, and we have to be very careful about safety. You've seen it in other examples around the world, and this is a major topic for us. For 2025, we are reassessing things. We do not know what's going to happen regarding taxes that are going to be imposed on us by the United States. You know that some of our clients are in the United States, and the business aviation, which is in the United States, well, we're wondering what's going to happen about that, so we're going to reassess our hiring capacity for 2025. The impacts, as I was saying, well, it's good. We have a government. We have a temporary stability, a little bit of instability, but we finally have a budget, but this budget is taxing corporations because we have a policy bringing down this tax by 25%. Now it's gone up again by 6%. And theoretically, it's going to be only for a year. So we've taken due note of that. We have put it down in bold letters on our papers, but we will see at the end of the year what's going to happen because of the evolution of the French debt. The value-added tax that was supposed to arrive this year that would have given us a tax break, this has been put off by three years. And the social taxes for sickness and family allowances, you know what the Social Security is paying, will be paid by the corporations. There's a drop in the expenses breaks. You know, there was the Gallois report that was explaining that France's competitiveness was mainly linked to its know-how and to its industry. And so therefore, we had to reduce the social expenses. That is between two and a half and three and a half of the minimum wage, and there was a break in these expenses, and now there's a drop and an increase in the taxes that the companies will have to pay. We're carrying on with the modernization of our industrial tool. The site is operational. We're substituting Argenteuil. We have commissioned the building in 2024, and all the transfers have been completed with production starting. Mérignac, we're still building new facilities to host the first Falcon 10X when the production will start, and also the aero structures and fuselage of Falcon that we're doing in Mérignac. We also finalized the expansion of the production buildings in Martignas, and we are modernizing Saint-Cloud. It's a bit more difficult because it's an urban area. We've started with the company restaurant, which was something that had been demanded by our employees for many years. We will gradually modernize the Saint-Cloud facilities. Make in India. There is a ramping up of this program in full harmony and compliance with what was decided in 2016, that is being able one day to have the Falcon 2000 assembled there. We already have some sections being assembled. We also have the transfer of the T12. If we achieve this in the forthcoming years for the Falcon 2000, it will also pave the way for the Rafale because this is what has been asked for the future combat fighters' orders. We'll have to be able to perform the final assembly locally. It's not only in the framework of the joint venture with DRAL. We also work with other companies such as Dynamatic. We've also the T5 transfer for the Falcon 6X with Mahindra and Tata, with whom we have ongoing discussions, which will hopefully be successful. So order intake + 32% at EUR 10.9 billion. Net sales are slightly above 6 billion. That's + 30% versus 2023 and a backlog, which is now standing at EUR 43.2 billion. Two comments when you consider the backlog, that is the middle column, and what we're actually selling in terms of sales. It's 1/3 France, 1/3 Falcons, and 1/3 exports. So that's the picture for 2024, and when you consider the backlog, the Rafale export, which will be spread out over various years and ensure a very good workload for the forthcoming years. We're still funding on our own equity, the R&D. The fact that we had the 10X and the 6X Falcons means that our costs are going down, and we're still working on R&D for the 10X. There is still a bigger effort in terms of self-funded R&D, EUR 437 million versus 483. Thales, we are a shareholder of Thales, and we've been shareholders in 2009 on an on-par equity sharing between the French state and us. Dassault Aviation holds 26.59% of Thales' capital or equity. Thales is now growing and developing, bringing many solutions in many areas with their EBIT, which has been going up also. You've heard about their result last year, 9% for the net sales. We are also enjoying part of this, and this is feeding our company. Revenue is EUR 6.230 billion exactly, with EUR 519 million operating income. This represents an 8.3% operating margin. That's +1% versus 2023. Financial income is almost the same as in 2023. Thales and other equity affiliates for EUR 515 million. And taxes have slightly increased in 2024. So the net income is standing at EUR 1 billion. That's unprecedented with a net income margin of 17%, with a self-financed R&D percentage of 7% and earnings per share of 13.5%. That's a significant increase compared with 2023. Now, our cash is also higher with a free cash flow at +EUR 1.6 billion, meaning that our available cash is standing at EUR 8.4 billion as opposed to EUR 7.3 billion in 2023. There was a share buyback program canceling them. It helps to reinforce the position of the existing shareholders. So we have canceled shares, buyback shares with bought back shares. So what matters is what you see at the bottom. GIMD, the Dassault family, that's 63.28%. Free float, 22.91%. Airbus, 10.56%, 0.25% held by Dassault Aviation. Voting rights on the right of the slide, t he Dassault family holds 79.74% of the voting rights. Dividends: EUR 370 million in 2025, up compared with 2024. We will be offering a EUR 4.72 dividend per share. That's a payout of 35%, meaning that 1/3 goes to the shareholders. That's also 1/3 for the parent company where we're sharing the value with the employees. That's the 30, 30, 30 rule as requested by Marcel Dassault and the Dassault family. We are in the top three companies sharing the values with their employees in France. Now, outlooks and strategy. We want to deliver the Rafale and Falcons according to our planning. It's still a challenging effort, mobilizing all our teams in 2025. Respect the deadlines, and this involves costs both for military and for the Falcon developments. Prepare the future of the Rafale with its F5 standard. We've started to negotiate with the DGA and the French military to start its development. We will carry on with the combat drone and the post-Rafale with the NGF. Support and availability of the aircraft, maintain the satisfaction level of our military customers supporting the Falcons and the arrival of the 6X. We want to continue our prospection effort for Falcon sales and export of Rafales, accelerate Make in India. The 10X will help us to have control on the ultra long range to compete with the G7 of Gulfstream. So accelerate the Make in India program. And we want to continue our recruitment effort with the reservations that are mentioned as a function of what is going to happen in the United States. Our 2025 guidance is for a EUR 6.5 billion range for the sales. That includes 40 Falcons and 25 Rafales with a reservation, which is subject to what's going to happen with the tariffs, which might be imposed by the United States, and the possible European Union countermeasures, which might have an impact on our capacity to maintain this guidance. Bombardier, one of our competitors, has also presented these reservations. I'm not ready to entertain any questions you might have. [Foreign language] Good morning, Mr. Trappier. I'd like to know what you think about Mr. Faury's statements with his intention to the future fighter that is putting together the Tempest and the NGF? [Foreign language] Since the beginning of the program, Airbus has come up with these statements. I have done what I was asked to do, that is an NGF demonstrator. We're doing that with the German and the Spanish. I haven't had any discussion with Guillaume Faury or any other member of the Tempest team. [Foreign language] Good morning, Mr. Trappier. Times Aerospace. I have a question about the Rafale. Dassault Aviation has recorded a historical order from the United Arab Emirates. And you've talked about future prospects. Everybody is, you know, courting Saudi Arabia. And what do you think, considering the geopolitical situation, what's going to happen in the Middle East? [Foreign language] Well, I think that the outlook for Dassault is in the long history of the French Republic, the Fifth Republic. It was the intention of General de Gaulle to develop a nuclear deterrence program and having a technology that is independent to support these nuclear deterrence. With these weapons and these fighter jets, we are able with Mirage and now the Rafale. It was also in the 1960s, the intention to export to the quote-unquote non-aligned countries, that is, non-European countries. European countries have mainly geared towards the United States. We're pleased that we have some European customers, that is, Balkans with Greece, Croatia, and Serbia. But most of our export market is with the non-aligned countries. No surprise that we're selling to Indonesia, Egypt, and India, and the Middle East, traditionally with Qatar and the United Arab Emirates. If we could sell to Saudi Arabia, fair enough. You know, in this kind of business deals, there is a highly political side to it, and the evaluation or assessment of the aircraft, Saudi Arabia is going to decide what they want to do, just like any other country who would call for some independence. France is offering them this independence because of the heritage of the Fifth Republic, and the legacy of what Charles de Gaulle through all the French presidents we've had. That's the 1960s strategy that helps Dassault Aviation and its partners, Thales, Safran, and the whole industrial network, because Rafale is 100% French-made. There is a bit of Make in India in the future, but it's 100% French-made. And its technology and capacity is consistent with the French policy of nuclear deterrence programs. We are in line with this policy. Is this policy going to change? I don't think it's going to change in France. Quite the opposite. It's going to be reinforced. And for the other European countries, well, I'm expecting, you know, what's going to happen with what the Europeans are going to do. We'll see. I'm neither optimistic nor pessimistic. I'm just observing the situation, and I'm hoping that the European countries will call for an autonomous defense program for Europe. [Foreign language] Mr. Chairman, with regard to Europe, do you think that Dassault Aviation will have its place in this defense in Europe, if it ever exists? Because according to the information we have, there are a lot of contradictions. Yesterday, Mrs. von der Leyen talked about EUR 800 billion for defense. This morning, I was listening to the radio, and it is mainly all this money will go to Germany. And there are some countries buying the American F-35. And we were talking about Oedipus. I thought that Europe had a complex, but no, not at all. It is a coup against our industry. You talked about the taxonomy, which is a strange word, but I think it's going against everything else. Will Dassault Aviation have its place in the European defense? [Foreign language] Dassault Aviation has its place in France. It will keep it for a very long time still, and it has its place in the world. The users of Dassault aircraft are old users like India since the '50s. They count on France. They count on Dassault to equip their armed forces today and tomorrow. We have a duty vis-à-vis those countries, vis-à-vis this partnership, all those who've trusted France and Dassault Aviation, and that will be maintained. The defense in Europe, you're going to do this, you're going to do that. I'm observing very carefully. Dassault Aviation will have its place in European defense. It won't be something that will be totally integrated, and the Commission does not have the competence in the field of defense. That's the European Constitution, and the states have to mobilize themselves. We have to go fast and react with this change in the alliance. And we will have our place because in Europe, we are the only ones who have the skills. We have the competencies for the aircraft from A to Z, but also for the electronics with Thales and for the engines. So I don't see how we can do without us in the future. So if they want to drown us in something that is difficult to understand with the incredible number of countries, I don't think it will be so. So we have to go beyond all the statements made. The European defense, we've been hearing about this for the past 30 years. I've pleaded for the European preference right from the years 2000, and they said that word cannot be pronounced in Brussels. I was banned from Brussels. And in 2024, you talked about Oedipus, Édipe. And if the Commission wants to help the defense industries because they have no competence in defense, but they can help the industries, we said, well, why not? And with European money, it would be good if that money went to the European industry at 100%. Even that was banned. We couldn't think like that. We had to have a share for non-European countries with European money. So we aren't prophets, but we're following our convictions. [Foreign language] Nicolas Abreu from Germany. There's a new coalition in Berlin that is being formed in defense. Will that create opportunities for Dassault, and what will be the consequences? I'm delighted that Germany has realized that they have to invest in defense. We've already heard this a few years ago. There was a EUR 100 billion plan in Germany. One of the first decisions was to buy the F-35 in Germany. That is to carry the American nuclear arm. So the money that was spent to buy the F-35 and carry the American nuclear arm, I'm wondering what is its efficiency today. I'm happy to see that Germany is going to maybe change things. I'm waiting for that. And if there are opportunities, we will definitely seize them. Pierre Tran. The United States are suspending their funds for Ukraine for the military deliveries. What do you think about that? [Foreign language] I have no answer to make. It's a state business. I'm not helping Ukraine financially. So the answer must come from the European countries. And in France, it all depends on the French government. But substituting ourselves to the Americans, this is going to be a tall order, and this will have to be made by all the European countries. [Foreign language] Good morning. Véronique Guillermard for the Figaro Newspaper. In terms of Rafale production capacity, have you reached the pace of three per month? That was your prior objective. And would it be possible to produce more if requested by the state, if they placed orders through export orders? And my second question is on customs duties. The Dassault company sells a lot of Rafale to the United States. No, not Rafale. Falcons. I would like to sell Rafale to the United States. Sorry, sorry. That's asking too much from us. Sorry, sorry about that. Yes, that's a slip of the tongue. And so Falcons, therefore, can you tell us what would be the impact if the United States increased taxes by 25% on all European products, and particularly on Falcons? [Foreign language] So the manufacturing chain, I'm repeating what I've already said. We have the primary parts. We have our subcontractors, 500 subcontractors. They will be in Mérignac to assemble the aircraft before delivering to our users. We have reached phase III for the upstream in Seclin in our plant. We are at phase III, and some of our subcontractors too. In Mérignac, which is the end of the cycle, we need some time to ramp up our production. And that too, because we have some issues in our supply chain. We have delivered 21 Rafale in 2024, and we said that we're going to deliver 26 Rafale, sorry, 25 Rafale in 2025. There is a ramping up half a point between 2024 and 2025. Gradually, we're increasing our pace. We have gone to pace three. This is done. It's underway. We are anticipating going to pace four. If we had to, we would try to reach pace five. That is if we receive the orders. We are not anticipating going on to the cadence five. If we had to, because there's this will to reinforce the French armed forces with 30 additional aircraft after 2030, of course, we would say yes to that. We will be glad to say so. Secondly, since we have a certain number of prospections underway, we would do that. Then there is India. They are preparing some major orders for combat aircraft, and we would open a new assembly line in India so that we can absorb this load, therefore this major Indian order, and so we can increase our pace. I know that for the past two years, everybody is saying they won't manage to do so. I'm not saying it's going to be easy, but we like challenges at Dassault, and we like to succeed against these challenges, and we've demonstrated that we could go faster. We will build additional hangars. We will hire additional people, and we will balance things out between Falcons and Rafale, and we have to make sure that the supply chain follows, but if we increase our pace with all our suppliers, that's good news. Now, the problem, as you said, is that this can't be done by just clicking your fingers. It's work, you have to anticipate things. You cannot increase the pace in five minutes. You need some time to ramp up. You need at least two years, two years to gain one point. It is difficult, but we're working on this very seriously, and we're trying to anticipate things. If we felt the need to increase our pace to supply our armed forces, we would do it. As for the Falcon, the difficulty is the reverse. We have a market. It is half-half between Europe and the United States. 1/3 Europe, 1/3 America, 1/3 the rest of the world. So if all of a sudden there are customs duties, 25% for the aircraft to be sent to the USA on the price of the aircraft, and we will have to deduct the amount of work carried out on the aircraft in Little Rock in the US, this would create difficulties. If Europe has countermeasures, it would create more issues. We would also be taxed, and we would have to increase the prices so as to absorb these taxes. So here again, we're looking carefully at what is happening, but it will be a difficulty. And this is why I've put this reservation in our guidance for this year, 2025. [Foreign language] Thank you. As Make in India is being discussed, I'd like to get more information. The Make in India, is this done to compensate the 36 Rafale contract that have already been bought? Or are you following a strategy that is favorable for Dassault Aviation? And I think that there will be the 26 Rafale. I hope the contract will be signed very soon for you, for the Indian Navy. And the Indian Air Chief Marshal was complaining about the local production capacity of HAL. Would it be possible for the future productions that would be done with the private sector? Could that be done with the help of companies, partnerships that you'll have set up in India itself? [Foreign language] So the answer is yes. From a strategic point of view, in 2016, we had set up a multiple strategy. Of course, yes, there are compensations. If we make in India, it contributes to our offset. We have a strategy in India to bring down our costs on Falcons. So we're doing this gradually because I'd like to remind you that to sell Falcons, we are in competition with the United States, and the American competitiveness is better than the French competitiveness. And I used to say that even when corporations were taxed at 25% instead of 35% now. We need to bring down the cost to be in this highly competitive market versus American, Canadian, and Brazilian companies with Embraer. That's the second strategy. The third is to prepare ourselves one day for larger Rafale orders for India. We have to prepare ourselves and maybe transfer an assembly line in India. We're following three objectives in our Make in India strategy. Therefore, yes, for the second part of your question, we're going to continue because when we began this, the Indian authorities were liberalizing the economy 30 years ago. We had to use the public industry, that is HAL. Now we have recommendations so that we can move into the private industry. The private industry, we have the companies I mentioned on the slide. Dassault has its plant in Nagpur with its partner alliance, and we have the industrial control to manufacture in India. So we are in India with a partner who knows India well. But of course, in the future, we will work with Tata, etc. When we won't have the 26 Rafale anymore, we will have other things to do. [Foreign language] Future Warfare Magazine. Regarding Future Warfare Magazine. Regarding the Atlantic 2 of the French Navy, do you consider having a specialized version of Falcon 10X because DGA has commissioned a study to Airbus? And I know that you also have a proposal. [Foreign language] We have presented Falcon 10X new versions for the maritime patrol. We believe this because we have some experience in this area, and some have an experience that has started in 1958 with ATL-1, ATL-2. We have maritime surveillance aircraft. So we have a know-how that for the French Navy or for the Japan Coast Guard. We even worked for Coast Guard Falcons delivered in the United States at one point. So we do have this capacity today, so it seems, because there haven't been any official statements so far. The state would go for a feasibility study starting from an Airbus aircraft model while having as a backup an American aircraft. We're still able to manufacture the 10X, but if we do not receive any orders to commission a study on that, we won't start any studying. Good luck to Airbus. [Foreign language] [Foreign language] So you have business aircraft and warfare aircraft. You were talking about the competitors from the U.S., Canada, and Brazil. What is the percentage of parts from the United States on the Falcons aircraft? I'm thinking it should be a high percentage in terms of electronics, for instance. Now, for the military part, what do you think about the future of the combat fighters? We have the FCAS that is going to come through. Now, Dassault Aviation seems to be prepared for the future. But what about the future warfare jets in high-intensity wars? [Foreign language] Where we said 50/50 between the French part and the U.S. part. Now, we have to also see that the engine is Canadian, is not U.S.-made. So we will have the + 25% tariffs imposed by the United States on Canada. So it's slightly less than 50%. So the completion part is done in the U.S., in Little Rock, and part of the electronic equipment is also purchased in the United States. But that will be less than 50% for the Falcon. Now, for the jet fighter, I don't believe in a 100% fully automated warfare. Based on the discussions we've had with the military, the French military, and other military representatives from around the world, the future jet fighters with a pilot on board within the next 30 years will still remain true and will be pivotal for having the capacity to attack a country or to defend a country. Now, it doesn't mean that there is no automation. There is the automation of the aircraft. These older data from the sensors from a collaborative combat means that all this data will be automated and processed automatically to help the pilot. The pilot is more a mission commander in chief who is closer to the front line, who will be able to make decisions as per what is required by hierarchy and what is observed in the field. Now, it's true that combat drones will help enhance the functionalities of an aircraft during a mission. So we will be witnessing the inception of drones, pilots with the pilot on board or remotely controlling. The Americans are often ahead because they have huge financial means and resources for that. We don't see small drones. You've seen in Ukraine; it's as if they had a small explosive that is remotely controlled. The fact that we have something that is fully integrated with the combat fighters, jet fighters. We're not at this stage yet. We do enjoy some know-how that will help us move forward in this area. If the ambitions of France are confirmed to have combat drones by 2030 in addition to the Rafale, it's a challenge that will be interesting and that we will be ready to take up before we have a future jet fighter that will come after the year 2040. [Foreign language] Now, in the sales of Dassault Aviation, what is the share between MCO, MRO, and new aircraft? And another small question. What about Mr. Charles Edelstenne? Has he retired? Truly? Is he living on the French Riviera? We don't see him anymore. [Foreign language] I will answer your second question first. Charles Edelstenne has indeed retired. He's a pensioner. That's why I'm replacing him. Otherwise, he would be here with us. He's still a member of the Board of Directors of Dassault Aviation. He's somebody who is really reliable. We want to have him on board. And he's still a member of the board of directors of Dassault Systèmes and also a shareholder of Dassault Systèmes. Now, for your first question, the support activity is an important share of our sales, not as much as the sales from the selling of aircraft. Of course, in France, for instance, you have all the MCOs for Atlantic 2, Mirage 2000, and Rafale. So the support part is a significant part of the total sales revenue. But this figure in the distribution is not disclosed. If we've exhausted all the questions, well, thank you. And we will meet in July again. I don't remember the date. July 21st. Okay, I'll keep this date in mind. And we'll meet again soon for some of you. Thank you.