How does 2011 look for business travel?
Christian Galichon - First of all, let's take a look at our Group. We are part of the CAC 40 index on the Paris stock exchange, and Vallourec generates sales of just over 4 billion euros, 84% of which comes from the energy sector and 68% from outside the European Union. With 18,600 employees, this world leader in tubular solutions has seen an increase in its international projects since 2010. For 2011, we are forecasting a volume of trips equivalent to that of 2010, which was up by 10 % on the volume recorded during the low point of 2009. Stable in terms of the number of transactions, business travel should also be stable in financial terms.
In 2011, as in 2010, our budget should remain at around 12 million euros. Will you be reviewing your travel policy criteria upwards or downwards?
C. G. - Not really. Our employees are authorised to fly business class for any journey of at least four hours. On the train, they use first class. In Europe and elsewhere, they generally stay in mid-range hotels. Since 2009, our efforts have focused on the acceptance rate of alternative recommendations from our AMEX travel agency. In 2010, this acceptance rate reached 90 %, an improvement of 5 % on 2009. On a long-haul flight, if the agency recommends Air France while another airline offers a more competitive price, travellers are encouraged to book the ticket at the lowest cost. Another concern is to limit the number of exceptions to travel policy guidelines. We are also considering the introduction of an online booking tool.
What are your thoughts on virtual travel?
C. G. - In 2011, Vallourec will have five sites equipped with a telepresence room. Thanks to this investment, we can hold long meetings with our subsidiaries in Germany, Brazil and the United States. For meetings lasting two or three hours, it's more pleasant and productive to communicate in these conditions than by videoconference. Other benefits include time savings and less fatigue for travellers.
