Exhibit 12.1

Statement re Computation of Ratios

IFRS (in millions of euros)	Six months ended				Year ended
	June 30, 2011		June 30, 2010		Dec. 31, 2010		Dec. 31, 2009		Dec. 31, 2008		Dec. 31, 2007		Dec. 31, 2006
Fixed Charges (1)		68.7		51.7		107.9		107.7		93.0		121.7		31.8
Pre-tax income from continuing before income (loss) from equity investees		-53.4		19.8		-29.8		-277.0		445.3		374.8		231.8
Excluding variance on derivative														23.0
Fixed Charges		68.7		51.7		107.9		107.7		93.0		121.7		31.8
Earnings		15.3		71.5		78.1		-169.3		538.3		496.5		286.6
Ratio of Earnings to Fixed Charges		0.2		1.4		0.7		-1.6		5.8		4.1		9.0

Note:

(1) “Fixed Charges” corresponds to the line item “Expenses related to financial debt” in our consolidated statement of operations.