MIRA INFORM REPORT

Report Date :

21.02.2012

IDENTIFICATION DETAILS

Name :	SMIAS INDUSTRIE
Registered Office :	ZI D Ecouflant 6 Bd De L Industrie 49000 Ecouflant
Country :	France
Financials (as on) :	30.09.2008
Date of Incorporation :	July 1986
Com. Reg. No.:	RCS Angers 8 338 131 089
Legal Form :	Limited Liability Company
Line of Business :	Manufacture of other special purpose machinery
No. of Employees :	36

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	50,000 €
Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

Name

SMIAS INDUSTRIE

SIRET

338 131 089 00025

company summary

Trade name	SMIAS INDUSTRIE
Activity (APE)	Manufacture of other special purpose machinery (2899B)	Legal form	Limited Liability Company
Phone	02 41 60 84 00	RCS Registration	RCS Angers 8 338 131 089
Fax		Share capital	50,000 Euros
Address	SMIAS INDUSTRIE ZI D ECOUFLANT 6 BD DE L INDUSTRIE 49000 ECOUFLANT	Incorporated Date	07/1986
Nationality	France	Status	Economically active

company details

Company details

Activity (APE)	Fabrication d'autres machines spécialisées (2899B)
RCS Registration	RCS Angers 8 338 131 089	Share capital	50,000 Euros
Registration Court	Angers (49)	Legal form	Limited Liability Company
Court Registry Number	19 8 6B002	EU VAT Number	FR65338131089
Incorporation Date	07/1986	Formation Date	06/1986
Deregistration Date		Last account Date	30/09/2008
Nationality	France

CREDIT RECOMENDATION

Current Credit Limit: 50,000 €

DIRECTORS/MANAGEMENT

directors

Name	SEYEUX OLIVIER
Manager position	Gérant	Date of birth	20/05/1971
Place of birth	CHÂTEAU-GONTIER (53)
Type of manager	Individual	Name at birth of manager

Previous Directors

Vous pouvez consulter ici l'historique des dirigeants de l'entreprise.
Si vous souhaitez consulter l'historique d'un dirigeant, il vous suffit de cliquer sur le lien voir le détail pour y accéder.

Manager position	Title and name	Date of Birth/Place of Birth
Gérant	M OLIVIER SEYEUX
Gérant	M ALAIN THIERRY

NEGATIVE INFORMATION

judgements

Collective procedures

Courts

No judgment information for the company coming from Court

Rncs

No judgment information for the company coming from Rncs

Bodacc

Judgment	Jugement lié au plan de continuation/redressement	Effective date	15/06/2005
Court	-	Parution date from Gazette	15/06/2005
2554 - Date : 18 mai 2005. Jugement prononçant la clôture de la procédure totale de l'entreprise après exécution du plan de continuation en application de l'article 94 du décret du 27 décembre 1985. RCS Angers B 338 131 089. RC 86-B 247. SMIAS INDUSTRIE. Forme : S.A.R.L. Activité : aménagement et installation industriels. Adresse : boulevard de l'Industrie, 49000 Angers.

Judgment	Jugement lié aux créances	Effective date	24/01/1996
Court	-	Parution date from Gazette	24/01/1996
Avis de dépot de l'état des créances. RCS Angers B 338 131 089 RC 86-B 247 SMIAS INDUSTRIE. Forme : S.A.R.L. Adresse : boulevard de l'Industrie, zone industrielle Ecouflant, 49000 Angers Dépot de l'état des créances au tribunal de commerce de: Angers , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

This company is not identified as one of the biggest french chip.

Linkages

This company is not identified as one of the biggest french chip.

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	30/09/2008	30/09/2007	30/09/2006
Account period (month)	12	12	18
Account Type	Normal	Normal	Normal
Deposit date	-	-	-
Activity Code	2899B	2899B	2899B
Employees	36	39	0

Active account

Annual Accounts	30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	76 676	87,5%	40 883	14,9%	35 575	76 676	0%
- Intangible assets	1 227	752,1%	144	0%	0	3 000	-59,1%
- Tangible assets	53 700	191,5%	18 425	10,0%	16 756	33 137	62,1%
- Financial assets	21 749	-2,5%	22 314	18,6%	18 819	1 934	1024,6%
Net current assets	2 598 664	-20,8%	3 279 338	-11,6%	3 709 274	527 388	392,7%
- Stocks	151 863	-59,4%	374 206	91,0%	195 907	89 121	70,4%
- Advanced payments	9 051	-20,8%	0	0%	37 770	0	0%
- Receivables	1 939 000	-19,5%	2 407 901	-16,5%	2 884 597	246 517	686,6%
- Securities and cash	498 750	0,3%	497 231	-15,9%	590 995	74 564	568,9%
- Prepaid expenses	-	-	-	-	-	284	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	2 675 340	-19,4%	3 320 226	-11,3%	3 744 849	751 518	256,0%

Passive Account

Annual Accounts	30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Shareholders' equity	463 925	14,8%	403 943	-56,8%	934 477	223 450	107,6%
Share capital	281 000	0%	281 000	0%	281 000	54 607	414,6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	20 500	0%	0	0%	20 800	0	0%
Liabilities	2 190 915	-24,9%	2 916 281	4,5%	2 789 570	431 289	408,0%
- Financial liabilities	619 300	-32,8%	922 194	-19,1%	1 139 430	41 650	1386,9%
- Advanced payments received	232 358	-31,1%	337 050	210,9%	108 406	0	0%
- Trade account payables	551 474	-14,8%	647 376	6,3%	609 256	152 716	261,1%
- Tax and social liabilities	545 159	13,3%	481 039	9,8%	438 199	120 940,50	350,8%
- Other debts and fixed assets liabilities	1 844	0%	0	0%	0	6 183	-70,2%
Account regularization	240 780	-54,5%	528 620	6,9%	494 277	0	0%
Total liabilities	2 675 340	-19,4%	3 320 226	-11,3%	3 744 849	751 518	256,0%

Results

Annual Accounts	30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Sales of Goods	3 903 264	-4,2%	4 075 999	-43,2%	7 180 877	999 180	290,6%
Net turnover	4 070 755	5,5%	3 857 415	-46,3%	7 176 895	939 244	333,4%
- of which net export turnover	1 059 343	129,5%	461 622	-64,1%	1 286 055	11 130	9417,9%
Operating charges	3 802 007	-4,9%	3 999 516	-45,7%	7 364 506	934 677	306,8%
Operating profit/loss	101 257	32,4%	76 487	141,7%	-183 626	31 430	222,2%
Financial income	1 182	-90,2%	12 001	2915,3%	398	1 120	5,5%
Financial charges	14 898	-47,8%	28 520	-15,7%	33 826	2 767	438,4%
Financial profit/loss	-13 716	17,0%	-16 519	50,6%	-33 428	-378	-3528,6%
Pretax net operating income	87 541	46,0%	59 968	127,6%	-217 054	27 262	221,1%
Extraordinary income	0	0%	42 083	-93,1%	613 344	836	0%
Extraordinary charges	3 681	-90,7%	39 733	-76,4%	168 405	416	784,9%
Extraordinary profit/loss	-3 681	3729,2%	2 350	-99,5%	444 938	0	0%
Net result	89 986	29,1%	69 681	-66,6%	208 360	32 174	179,7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	30/09/2008	30/09/2007	30/09/2006
Months	12	12	18

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			30/09/2008		30/09/2007		30/09/2006
	Grand Total (I to VI)	Net	2 675 340	-19,4%	3 320 226	-11,3%	3 744 849
	Gross	CO	3 064 486	-19,0%	3 785 040	-9,9%	4 200 500
	Amortisation	1A	389 146	-16,3%	464 813	2,0%	455 651

Non declared distributed capital (I)

		30/09/2008		30/09/2007		30/09/2006
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	-	-	-	-	-

Active fixed asset (II)

			30/09/2008		30/09/2007		30/09/2006
	Total Active fixed asset (II)	Net	76 676	87,5%	40 883	14,9%	35 575
	Gross	BJ	460 295	-8,0%	500 421	1,9%	491 225
	Amortisation	BK	383 619	-16,5%	459 536	0,9%	455 650

Intangilble fixed assets

			30/09/2008		30/09/2007		30/09/2006
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	1 227	752,1%	144	0%	0
	Gross	AF	25 616	-44,4%	46 102	-1,7%	46 884
	Amortisation	AG	24 389	-46,9%	45 958	-2,0%	46 884
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	1 227	752,1%	144	0%	0

Tangilble fixed assets

			30/09/2008		30/09/2007		30/09/2006
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	519	-83,3%	3 111	18,2%	2 632
	Gross	AR	60 581	-44,5%	109 136	1,4%	107 584
	Amortisation	AS	60 062	-43,4%	106 025	1,0%	104 952
	Other tangible fixed assets	Net	53 181	247,3%	15 314	8,4%	14 124
	Gross	AT	352 349	9,1%	322 867	1,6%	317 938
	Amortisation	AU	299 168	-2,7%	307 553	1,2%	303 814
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	53 700		18 425		16 756

Financial assets

			30/09/2008		30/09/2007		30/09/2006
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	21 749	-2,5%	22 314	18,6%	18 819
	Gross	BH	21 749	-2,5%	22 314	18,6%	18 819
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		21 749		22 314		18 819

Current Assets (III)

			30/09/2008		30/09/2007		30/09/2006
	Total Assets	Net	2 598 664	-20,8%	3 279 338	-11,6%	3 709 274
	Gross	CJ	2 604 191	-20,7%	3 284 615	-11,4%	3 709 274
	Amortisation	CK	5 527	4,7%	5 277	0%	0

Stocks

			30/09/2008		30/09/2007		30/09/2006
	Raw materials	Net	20 209	-54,5%	44 437	-19,0%	54 887
	Gross	BL	20 209	-54,5%	44 437	-19,0%	54 887
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	131 654	-60,1%	329 769	133,8%	141 020
	Gross	BN	131 654	-60,1%	329 769	133,8%	141 020
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	151 863	-59,4%	374 206	91,0%	195 907

Advance payments to suppliers

			30/09/2008		30/09/2007		30/09/2006
	Advance payments to suppliers	Net	9 051	0%	0	0%	37 770
	Gross	BV	9 051	0%	0	0%	37 770
	Amortisation	BW	0	0%	0	0%	0

Debtors

			30/09/2008		30/09/2007		30/09/2006
	Trade accounts receivable	Net	1 845 084	-10,2%	2 054 800	36,1%	1 509 935
	Gross	BX	1 850 611	-10,2%	2 060 077	36,4%	1 509 935
	Amortisation	BY	5 527	4,7%	5 277	0%	0
	Other debtors	Net	69 624	-78,9%	329 353	-75,7%	1 357 413
	Gross	BZ	69 624	-78,9%	329 353	-75,7%	1 357 413
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	1 914 708	-19,7%	2 384 153	-16,9%	2 867 348

Divers

			30/09/2008		30/09/2007		30/09/2006
	Investment securities	Net	54 996	37,5%	39 996	0%	39 996
	Gross	CD	54 996	37,5%	39 996	0%	39 996
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	443 754	-2,9%	457 235	-17,0%	550 999
	Gross	CF	443 754	-2,9%	457 235	-17,0%	550 999
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	498 750	0,3%	497 231	-15,9%	590 995

Prepaid expenses

			30/09/2008		30/09/2007		30/09/2006
	Prepaid expenses	Net	24 292	2,3%	23 748	37,7%	17 249
	Gross	CH	24 292	2,3%	23 748	37,7%	17 249
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		30/09/2008		30/09/2007		30/09/2006
Multi-period charges	CW3	0	0%	0	0%	0
Gross		-	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		-	-	-	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		-	-	-	-	-

References

		30/09/2008		30/09/2007		30/09/2006
Due within one year	CP	21 749	-2,5%	22 314	18,6%	18 819
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		30/09/2008		30/09/2007		30/09/2006
Grand Total (I to V)	EE	2 675 340	-19,4%	3 320 226	-11,3%	3 744 849

Shareholder Equity (I)

			30/09/2008		30/09/2007		30/09/2006
	Total shareholders' equity (Total I)	DL	463 925	14,8%	403 943	-56,8%	934 477
	Equity and shareholders' equity	DA	281 000	0%	281 000	0%	281 000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	28 100	0%	28 100	0%	28 100
	Statutory or contractual reserve	DE	64 762	157,4%	25 162	-90,9%	277 998
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	81	0%	0	0%	139 019
	Profit or loss for the period	DI	89 982	29,1%	69 681	-66,6%	208 360
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			30/09/2008		30/09/2007		30/09/2006
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			30/09/2008		30/09/2007		30/09/2006
	Total provisions for risks and charges (Total III)	DR	20 500	0%	0	0%	20 800
	Risk provisions	DP	20 500	0%	0	0%	20 800
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			30/09/2008		30/09/2007		30/09/2006
	Total Liabilities (Total IV)	EC	2 190 915	-24,9%	2 916 281	4,5%	2 789 570
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	549 296	-35,7%	854 521	63,0%	524 137
	Sundry loans and financial liabilities	DV	70 004	3,4%	67 673	-89,0%	615 293
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	232 358	-31,1%	337 050	210,9%	108 406
	Trade accounts payables	DX	551 474	-14,8%	647 376	6,3%	609 256
	Tax and social security liabilities	DY	545 159	13,3%	481 039	9,8%	438 199
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	1 844	0%	0	0%	0

Translation loss (V)

		30/09/2008		30/09/2007		30/09/2006
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		30/09/2008		30/09/2007		30/09/2006
Deferred income	EB	240 780	-54,5%	528 620	6,9%	494 277

References

		30/09/2008		30/09/2007		30/09/2006
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	2 170 815	-25,6%	2 916 281	4,5%	2 789 570
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		30/09/2008		30/09/2007		30/09/2006
Operating result (Total I-II)	GG	101 257	32,4%	76 487	141,7%	-183 626

2 - Financial result (V - VI)

		30/09/2008		30/09/2007		30/09/2006
Financial result (Total V-VI)	GV	-13 716	17,0%	-16 519	50,6%	-33 428

3 - Pre-tax net operating income result (I - VI)

		30/09/2008		30/09/2007		30/09/2006
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	87 541	46,0%	59 968	127,6%	-217 054

4 - Extraordinary result (VII-VIII)

		30/09/2008		30/09/2007		30/09/2006
Extraordinary result (Total VII-VIII)	HI	-3 681	-256,6%	2 350	-99,5%	444 938

Profit or loss

		30/09/2008		30/09/2007		30/09/2006
Profit or loss	HN	89 986	29,1%	69 681	-66,6%	208 360

Total Income (I+III+V+VII)

		30/09/2008		30/09/2007		30/09/2006
Total Income (I+III+V+VII)	HL	3 904 446	-5,5%	4 130 084	-47,0%	7 794 619

Total charges (Total II+IV+VI+VIII+IX+X)

		30/09/2008		30/09/2007		30/09/2006
Total charges (Total II+IV+VI+VIII+IX+X)	HM	3 814 460	-6,1%	4 060 402	-46,5%	7 586 260

Operating income (I)

		30/09/2008		30/09/2007		30/09/2006
Total operating income (Total I)	FR	3 903 264	-4,2%	4 075 999	-43,2%	7 180 877

Operating income (details)

			30/09/2008		30/09/2007		30/09/2006
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	4 056 018	6,3%	3 815 565	-31,8%	5 594 907
	France	FD	2 996 675	-10,7%	3 353 943	-26,2%	4 541 658
	Export	FE	1 059 343	129,5%	461 622	-56,2%	1 053 249
	Sale of services	FI	14 737	-64,8%	41 850	-97,4%	1 581 988
	France	FG	14 737	-64,8%	41 850	-96,9%	1 349 182
	Export	FH	0	0%	0	0%	232 806
	Net turnover	FL	4 070 755	5,5%	3 857 415	-46,3%	7 176 895
	France	FJ	3 011 412	-11,3%	3 395 793	-42,4%	5 890 840
	Export	FK	1 059 343	129,5%	461 622	-64,1%	1 286 055
	Stocked production	FM	-198 115	-205,0%	188 748	493,0%	-48 030
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	16 200	0%	0
	Release of reserves and provisions	FP	28 991	523,3%	4 651	-91,0%	51 539
	Other income	FQ	1 633	-81,8%	8 985	1799,6%	473

Operating charges (II)

		30/09/2008		30/09/2007		30/09/2006
Total operating charges (Total II)	GF	3 802 007	-4,9%	3 999 516	-45,7%	7 364 506

Exploitation charges

		30/09/2008		30/09/2007		30/09/2006
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	1 363 333	-27,7%	1 885 245	19,6%	1 576 823
Change in stocks of raw materials	FV	24 228	131,9%	10 449	72,5%	6 057
Other external purchases and charges	FW	634 452	9,1%	581 541	-78,8%	2 740 112
Tax, duty and similar payments	FX	79 400	31,6%	60 343	-29,0%	84 947
Payroll	FY	1 123 675	16,0%	968 864	-51,3%	1 987 586
Social security costs	FZ	546 724	15,1%	474 820	-50,0%	949 090

Depreciation

		30/09/2008		30/09/2007		30/09/2006
Depreciation of fixed assets	GA	7 611	-6,4%	8 135	-50,5%	16 427
Amortisation of fixed assets	GB	0	0%	0	0%	3 300
Depreciation/amortisation of current assets	GC	249	-95,3%	5 277	0%	0
Provisions for risks and charges	GD	20 500	0%	0	0%	0

Other charges

		30/09/2008		30/09/2007		30/09/2006
Other charges	GE	1 835	-62,1%	4 838	2905,0%	161

Operating charges (III-IV)

		30/09/2008		30/09/2007		30/09/2006
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			30/09/2008		30/09/2007		30/09/2006
	Total financial income (Total V)	GP	1 182	-90,2%	12 001	2915,3%	398
	Share financial income	GJ	0	0%	10 945	9941,3%	109
	Other investment income & capitalised receivables	GK	234	0%	0	0%	0
	Other interest and similar income	GL	948	271,8%	255	-11,8%	289
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	801	0%	0

Financial Charge (VI)

			30/09/2008		30/09/2007		30/09/2006
	Total financial charge (Total VI)	GU	14 898	-47,8%	28 520	-15,7%	33 826
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	14 898	-47,7%	28 503	-15,7%	33 826
	Exchange losses	GS	0	0%	17	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			30/09/2008		30/09/2007		30/09/2006
	Total extraordinary income (Total VII)	HD	0	0%	42 083	-93,1%	613 344
	Extraordinary operating income	HA	0	0%	349	-89,9%	3 450
	Extraordinary income from capital transactions	HB	0	0%	20 934	-96,6%	609 893
	Released provisions and transferred charges	HC	0	0%	20 800	0%	0

Extraordinary charges (VIII)

			30/09/2008		30/09/2007		30/09/2006
	Total extraordinary charges (Total VIII)	HH	3 681	-90,7%	39 733	-76,4%	168 405
	Extraordinary operating charges	HE	1 500	-93,7%	23 678	5537,6%	420
	Extraordinary charges from capital transactions	HF	2 181	-86,4%	16 055	-90,4%	167 985
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		30/09/2008		30/09/2007		30/09/2006
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		30/09/2008		30/09/2007		30/09/2006
Tax on profits (Total X)	HK	-6 126	16,9%	-7 369	-137,7%	19 523

References

		30/09/2008		30/09/2007		30/09/2006
Of which equipment leases	HP	27 984	2,4%	27 316	230,0%	8 277
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	OG	500 421	1,9%	491 226	-28,7%	688 991
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	46 386	17,2%	39 571	56,7%	25 253
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	86 510	184,8%	30 376	-86,4%	223 017
	Gross value at the end of period	OL	460 295	-8,0%	500 421	1,9%	491 227

Research and development Charge (Total I)

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	KD	46 102	-1,7%	46 884	0%	46 884
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	2 636	26,1%	2 090	-34,4%	3 185
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	23 122	705,1%	2 872	-9,8%	3 185
	Gross value at the end of period	LW	25 616	-44,4%	46 102	-1,7%	46 884

Tangible fixed assets (Total III)

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	LN	432 005	1,5%	425 523	-9,4%	469 859
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	43 515	81,9%	23 916	18,8%	20 127
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	62 588	259,0%	17 434	-73,0%	64 462
	Gross value at the end of period	NH	412 932	-4,4%	432 003	1,5%	425 523

Fiancial assets (Total IV)

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	LQ	22 314	18,6%	18 819	-89,1%	172 248
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	235	-98,3%	13 565	598,9%	1 941
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	800	-92,1%	10 070	-93,5%	155 370
	Gross value at the end of period	NK	21 749	-2,5%	22 314	18,6%	18 819

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			30/09/2008		30/09/2007		30/09/2006
	Reserve for depreciation value at begin of period	0N	459 536	0,9%	455 651	-7,8%	494 255
Increases		0P	7 612	-6,4%	8 135	-50,5%	16 427
Decreasess		0Q	83 528	1864,9%	4 251	-92,3%	55 031
	Reserve for depreciation value at the end of period	0R	383 620	-16,5%	459 535	0,9%	455 651

Research and development charge (Total I)

			30/09/2008		30/09/2007		30/09/2006
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			30/09/2008		30/09/2007		30/09/2006
	Reserve for depreciation value at begin of period	PE	45 958	-2,0%	46 884	2,6%	45 685
Increases		PF	1 553	97,3%	787	-64,5%	2 216
Decreasess		PG	23 122	1249,0%	1 714	68,5%	1 017
	Decreasess by budget item transfer	PH	24 389	-46,9%	45 957	-2,0%	46 884

Total fixed assets amotisation (Total III)

			30/09/2008		30/09/2007		30/09/2006
	Reserve for depreciation value at begin of period	QU	413 578	1,2%	408 767	-8,9%	448 570
Increases		QV	6 059	-17,5%	7 348	-48,3%	14 211
Decreases		QW	60 406	2281,0%	2 537	-95,3%	54 014
	Decreasess by budget item transfer	QX	359 231	-13,1%	413 578	1,2%	408 767

Movements during period affecting charge allocated over several period
Charges à répartir ou frais d'émission d'emprunt

			30/09/2008		30/09/2007		30/09/2006
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			30/09/2008		30/09/2007		30/09/2006
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			30/09/2008		30/09/2007		30/09/2006
	Value at begining of period	7C	5 278	-74,6%	20 800	18,9%	17 500
Increases		UB	20 750	293,1%	5 278	59,9%	3 300
Decreases		UC	0	0%	20 801	0%	0
	Value at the end of period	UD	26 028	393,2%	5 277	-74,6%	20 800

Includes Total allocations

Operating	UE	20 750	293,1%	5 278	59,9%	3 300
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	20 800	0%	0

Total regulated provisions (Total I)

			30/09/2008		30/09/2007		30/09/2006
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			30/09/2008		30/09/2007		30/09/2006
	Value at begining of period	5Z	0	0%	20 800	18,9%	17 500
Increases		TV	20 500	0%	0	0%	3 300
Decreases		TW	0	0%	20 800	0%	0
	Value at the end of period	TX	20 500	0%	0	0%	20 800

Total Provision for depreciation (Total III)

			30/09/2008		30/09/2007		30/09/2006
	Value at begining of period	7B	5 278	0%	0	0%	0
Increases		TY	250	-95,3%	5 278	0%	0
Decreases		TZ	0	0%	01	0%	0
	Value at the end of period	UA	5 528	4,8%	5 277	0%	0

State deadlines claims and debts at the end of period
State claims

		30/09/2008		30/09/2007		30/09/2006
Gross value	VT	1 966 278	-19,3%	2 435 493	-16,1%	2 903 418
1 year at most	VU	1 966 278	-19,3%	2 435 493	-16,1%	2 903 418
More than one year	VV	0	0%	0	0%	0

State of loans

		30/09/2008		30/09/2007		30/09/2006
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	21 749	-2,5%	22 314	18,6%	18 819
Other financial assets (1 year at most)	UV	21 749	-2,5%	22 314	18,6%	18 819

Receivables statement of assets

		30/09/2008		30/09/2007		30/09/2006
Customers doubtful or disputed	VA	6 611	0%	0	0%	0
Other claims customer	UX	1 844 001	-10,5%	2 060 077	36,4%	1 509 936
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	3 155	-0,1%	3 157	-18,6%	3 876
Social Security and other social organizations	UZ	12 870	0%	0	0%	909
Income taxes	VM	0	0%	280 011	-1,0%	282 712
Value added tax	VB	52 972	66,1%	31 894	-4,8%	33 511
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	9 042	-58,7%	21 901
Group and Associates	VC	0	0%	0	0%	413 892
Accounts receivable (including claims relating to the operation of pension titles)	VR	627	-88,1%	5 249	-99,1%	600 614

Prepaid

		30/09/2008		30/09/2007		30/09/2006
Prepaid	VS	24 292	2,3%	23 748	37,7%	17 249

State Debt

			30/09/2008		30/09/2007		30/09/2006
	Total debt (gross)	VY	1 958 558	-24,1%	2 579 229	-3,8%	2 681 165
1 year at most		VZ2	1 938 457	-24,8%	2 579 229	-3,8%	2 681 165
More than 1 year and 5 years at most		VZ3	20 102	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			30/09/2008		30/09/2007		30/09/2006
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	524 663	-38,6%	854 521	63,0%	524 138
1 year at most		VG2	524 663	-38,6%	854 521	63,0%	524 138
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	24 633	0%	0	0%	0
1 year at most		VH2	4 531	0%	0	0%	153 401
More than 1 year and 5 years at most		VH3	20 102	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	20	-20,0%	25	-98,3%	1 500
1 year at most		8A2	20	-20,0%	25	-98,3%	1 500
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	551 474	-14,8%	647 376	6,3%	609 256
1 year at most		8B2	551 475	-14,8%	647 376	6,3%	609 256
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	134 712	17,0%	115 176	-24,9%	153 401
1 year at most		8C2	134 712	17,0%	115 176	-24,9%	153 401
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	153 845	12,8%	136 391	-27,5%	188 225
1 year at most		8D2	153 845	12,8%	136 391	-27,5%	188 225
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	198 862	0%	0	0%	10 071
1 year at most		8E2	198 862	0%	0	0%	10 071
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	57 741	-69,4%	188 761	356,9%	41 315
1 year at most		VW2	57 741	-69,4%	188 761	356,9%	41 315
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	40 711	-9,9%	45 187
1 year at most		VQ2	0	0%	40 711	-9,9%	45 187
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	69 984	3,5%	67 648	-89,0%	613 794
1 year at most		VI2	69 984	3,5%	67 648	-89,0%	613 794
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	1 844	0%	0	0%	0
1 year at most		8K2	1 844	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	240 780	-54,5%	528 620	6,9%	494 277
1 year at most		8L2	240 780	-54,5%	528 620	6,9%	494 277
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		30/09/2008		30/09/2007		30/09/2006
Loans made during the period	VJ	25 000	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		30/09/2008		30/09/2007		30/09/2006
Dividends	ZE	0	0%	0	0%	0

Commitments

		30/09/2008		30/09/2007		30/09/2006
Commitments leasing furniture	YQ	54 006	181,3%	19 198	-69,7%	63 296
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		30/09/2008		30/09/2007		30/09/2006
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		30/09/2008		30/09/2007		30/09/2006
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		30/09/2008		30/09/2007		30/09/2006
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		30/09/2008		30/09/2007		30/09/2006
Average number of employees	YP	36	-7,7%	39	0%	0

Groups and Shareholders

		30/09/2008		30/09/2007		30/09/2006
Groups and Shareholders	ZR	-	-	-	-	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Fixed Asset Financing		3,23	-9,5%	3,57	-31,2%	5,19	2,05	57,6%
Global Debt		194 days	-28,7%	272 days	29,5%	210 days	152 days	27,6%
Working Capital Fund overall net		91 days	-24,2%	120 days	-22,6%	155 days	74 days	23,0%
Financial independence		84,46%	78,7%	47,27%	-73,5%	178,29%	571,74%	-85,2%
More ratios
Solvability		17,34%	42,5%	12,17%	-51,2%	24,95%	34,80%	-50,2%
Capacity debt futures		87,67%	85,5%	47,27%	-65,7%	137,92%	1577,54%	-94,4%
Coverage of current assets by net working capital overall		38,98%	0,1%	38,94%	-29,4%	55,17%	36,72%	6,2%
General Liquidity		1,01	7,4%	0,94	-13,0%	1,08	0,82	23,2%
Restricted Liquidity		1,27	11,4%	1,14	-12,3%	1,30	1,15	10,4%

Management or rotation

		30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Need background in operating working capital		66 days	-45,5%	121 days	-17,1%	146 days	41,50 days	59,0%
Treasury		44 days	-4,3%	46 days	4,5%	44 days	17 days	158,8%
Inventory turnover of goods		days	-	days	-	days	0 days	-
Average length of credit granted to customers		164 days	-14,6%	192 days	152,6%	76 days	90 days	82,2%
Average length of credit obtained suppliers		98 days	4,3%	94 days	84,3%	51 days	86 days	14,0%
More ratios
Inventory turnover of raw materials in industrial enterprises		5 days	-37,5%	8 days	-38,5%	13 days	43 days	-88,4%
Inventory turnover of intermediate and finished products in the industrial enterprise		986 days	10,4%	893 days	-47,1%	1687 days	685 days	43,9%
Rotation tangible assets		985,82%	10,4%	892,91%	-47,1%	1686,61%	700,08%	40,8%

Profitability of the business

		30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		2,48	18,1%	2,10	169,8%	-3,01	5,72%	-56,6%
Net profit		2,21%	22,1%	1,81%	-37,6%	2,90%	3,12%	-29,2%
More ratios
Growth rate of turnover (excluding VAT)		5,53%	112,0%	-46,25%	-200,7%	45,93%	5,39%	2,6%
Rates integration		45,46%	11,8%	40,67%	4,0%	39,10%	38,87%	17,0%
Rate leasing furniture		0,69%	-2,8%	0,71%	491,7%	0,12%	0%	0%
Work Factor		90,26%	-1,9%	92,02%	-12,1%	104,66%	76,63%	17,8%
Weight interests		0,37	-50,0%	0,74%	57,4%	0,47%	0,34%	8,8%

Return on capital

		30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Cash flow from the overall profitability		2,45%	81,5%	1,35%	145,3%	-2,98%	5,01%	-51,1%
Rates of economic profitability		9%	50,0%	6%	160,0%	-10%	18%	-50,0%
Financial profitability		463925%	14,8%	403943%	-56,8%	934477%	196584%	136,0%
Return on investment		9,68%	30,6%	7,41%	-36,6%	11,68%	13,38%	-27,7%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	30/09/2008		30/09/2007		30/09/2006	Sector Median 2008
Turnover	4 070 755	5,5%	3 857 415	-46,3%	7 176 895	939 244 €	333,4%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	0 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0 % CA	0%

Sale of goods produced	4 070 755	5,5%	3 857 415	-46,3%	7 176 895
+/- Stocked production	-198 115	-205,0%	188 748	493,0%	-48 030
+ Self-constructed assets	0	0%	0	0%	0
Period production	3 872 640 €	-4,3%	4 046 163 €	-43,2%	7 128 865 €	772 623 €	401,2%
	95,13 % CA	-9,3%	104,89 % CA	5,6%	99,33 % CA	99,85 % CA	-4,7%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	3 872 640	-4,3%	4 046 163	-43,2%	7 128 865	772 623	401,2%
- Purchase of raw materials	1 363 333	-27,7%	1 885 245	19,6%	1 576 823
+/- Change in stocks of raw materiels	24 228	131,9%	10 449	72,5%	6 057
- Other external purchases and charges	634 452	9,1%	581 541	-78,8%	2 740 112
Added value	1 850 627 €	18,0%	1 568 928 €	-44,1%	2 805 873 €	384 717 €	381,0%
	45,46 % CA	11,8%	40,67 % CA	4,0%	39,10 % CA	38,87 % CA	17,0%

Added value	1 850 627 €	18,0%	1 568 928 €	-44,1%	2 805 873 €	384 717 €	381,0%
+ Operating grants	0	0%	16 200	0%	0
- Tax, duty and similar payments	79 400	31,6%	60 343	-29,0%	84 947
- Personal charges	1 670 399	15,7%	1 443 684	-50,8%	2 936 676
Gross operating surplus	100 828 €	24,3%	81 101 €	137,6%	-215 750 €	46 215 €	118,2%
	2,48 % CA	18,1%	2,10 % CA	169,8%	-3,01 % CA	5,72 % CA	-56,6%

Gross operating surplus	100 828 €	24,3%	81 101 €	137,6%	-215 750 €	46 215 €	118,2%
+ Release of reserves and provisions	28 991	523,3%	4 651	-91,0%	51 539
+ Other operating income	1 633	-81,8%	8 985	1799,6%	473
- Depreciation/Amortisation	28 360	111,5%	13 412	-32,0%	19 727
- Other charges	1 835	-62,1%	4 838	2905,0%	161
Operating result	101 257 €	32,4%	76 487 €	141,7%	-183 626 €	31 431 €	222,2%
	2,49 % CA	25,8%	1,98 % CA	177,3%	-2,56 % CA	4,05 % CA	-38,5%

Operating result	101 257 €	32,4%	76 487 €	141,7%	-183 626 €	31 431 €	222,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1 182	-90,2%	12 001	2915,3%	398
- Financial charges	14 898	-47,8%	28 520	-15,7%	33 826
Pre-tax result	87 541 €	46,0%	59 968 €	127,6%	-217 054 €	27 264 €	221,1%
	2,15 % CA	38,7%	1,55 % CA	151,3%	-3,02 % CA	3,79 % CA	-43,3%

Extraordinary income	0	0%	42 083	-93,1%	613 344	836	0%
- Extraordinary charges	3 681	-90,7%	39 733	-76,4%	168 405
Extraordinary result	-3 681 €	-256,6%	2 350 €	-99,5%	444 939 €	0 €	0%
	-0,09 % CA	-250,0%	0,06 % CA	-99,0%	6 % CA	0 % CA	0%

Pre-tax result	87 541 €	46,0%	59 968 €	127,6%	-217 054 €	27 264 €	221,1%
Extraordinary result	-3 681 €	-256,6%	2 350 €	-99,5%	444 939 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-6 126	16,9%	-7 369	-137,7%	19 523
Net result	89 986 €	29,1%	69 687 €	-66,6%	208 362 €	32 176 €	179,7%
	2,21 % CA	22,1%	1,81 % CA	-37,6%	2,90 % CA	3,12 % CA	-29,2%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Establishment details

Trade name	SMIAS INDUSTRIE
Activity (APE)	Fabrication d'autres machines spécialisées (2899B)	Business Pages FT®	MAINTENANCE INDUSTRIELLE
Postal Address	SMIAS INDUSTRIE ZI D ECOUFLANT 6 BD DE L INDUSTRIE 49000 ECOUFLANT	Trading Address	6 BOULEVARD DE L INDUSTRIE 49000 ECOUFLANT
Telephone	02 41 60 84 00
Fax

Type	Head office	Status	Economically active
Formation Date	10/1988	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Maine-et-Loire (49)	Region	Pays de La Loire
District	1	Area	01
City	ECOUFLANT	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> SMIAS INDUSTRIE <<<  - Fabrication d'autres machines spécialisées (2899B)  in ECOUFLANT  (49000)
Secondary establishments	>  SMIAS INDUSTRIE  - Fabrication d'autres machines spécialisées (2899B)  in ANGERS  (49100)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

20 to 49 employees

Company workforce

20 to 49 employees

Other sources

No recent judgment publication in other sources for the company.

   Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	11/12/2007
Status of Monitoring	No social security and tax office preferential right to date

Social security, pension funds preferential rights

Number of preferential rights	0
Total amount	-
Due remaining amount	-
Date of last preferential right	-

Historical Data

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

200900339

15/04/2009

02/06/2009

IPRIS INSTITUTION PARITAIRE DE RETRAITES INTERPROFESSIONNELLE DE

11 778 EUR

-

Reason for closure	Crossed Off
Court	Angers
Creditor	IPRIS INSTITUTION PARITAIRE DE RETRAITES INTERPROFESSIONNELLE DE S SALARIES 29 BOULEVARD EDGAR QU
Debtor	SMIAS INDUSTRIE SARL BD. DE LINDUSTRIE 49000 ECOUFLANT, ANGERS

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
28/02/2011	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 952 - 338 131 089 RCS Angers. SMIAS INDUSTRIE. Forme : Société à responsabilité limitée. Capital : 50000 EUR. Activité : . Commentaires : Modification survenue sur le capital.
11/02/2011	JAL	Modification of the share capital
Anjou agricole (L') Date de décision : 30/12/2010 La société : 338131089 - SMIAS INDUSTRIE, SMIAS INDUSTRIE, 6 BD DE L INDUSTRIE, ZI D ECOUFLANT, 49000 ECOUFLANT a subi une diminution de son capital social désormais de 50 000 € Date d'effet : 30/12/2010
04/08/2009	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 684 - 338 131 089 RCS Angers. SMIAS INDUSTRIE. Forme : Société à responsabilité limitée. Administration : Gérant(e) : SEYEUX Olivier Commissaire aux comptes titulaire : CABINET ROUXEL BRIERE AGEFEX représenté par BRIERE François Commissaire aux comptes suppléant : ROUXEL Etienne. Commentaires : Modification survenue sur l'administration.
15/05/2009	Bodacc C	Comptes annuels et rapports
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 5207 - 338131089 RCS. SMIAS INDUSTRIE. Forme : Société à responsabilité limitée. Adresse : zi d'Ecouflant - 6 boulevard de l'Industrie 49000 Ecouflant. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2008.
24/04/2008	Bodacc C	Comptes annuels et rapports
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 4371 - 338131089 RCS. SMIAS INDUSTRIE. Forme : Société à responsabilité limitée. Adresse : zi d'Ecouflant - 6 boulevard de l'Industrie 49000 Ecouflant. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2007.
05/06/2007	Bodacc C	Avis de dépôt des comptes
3675 - RCS Angers B 338 131 089. RC 86-B 247. SMIAS INDUSTRIE. Forme: S.A.R.L.. Adresse du siège social: Z.I. d'Ecouflant - 6, boulevard de l'Industrie,49000 Ecouflant. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2006.
12/12/2006	Bodacc A	Vente et cession
0662 - RCS non encore inscrit. SMIAS TRANSFERT. Forme : S.A.R.L. Capital : 100 000 euros. Adresse du siège social : 24 boulevard Gaston-Birge, 49000 Angers. Etablissement principal - Activité : transferts industriels et installation de machines. Adresse : Z.I. Ecouflant, 6 boulevard de l'Industrie, 49000 Angers. Branche d'activité de transferts industriels, dépendant de l'établissement principal, acquise par achat au prix stipulé de 100 000 euros. Date de début d'activité : 1er octobre 2006. Précédent propriétaire : SMIAS INDUSTRIE. RCS Angers 338 131 089. Publication légale : Le Haut Anjou du 13 octobre 2006. Oppositions : Thémis, 14 avenue de Contades, 49000 Angers.
15/06/2005	Bodacc A	Jugement lié au plan de continuation/redressement
2554 - Date : 18 mai 2005. Jugement prononçant la clôture de la procédure totale de l'entreprise après exécution du plan de continuation en application de l'article 94 du décret du 27 décembre 1985. RCS Angers B 338 131 089. RC 86-B 247. SMIAS INDUSTRIE. Forme : S.A.R.L. Activité : aménagement et installation industriels. Adresse : boulevard de l'Industrie, 49000 Angers.
08/01/2002	Bodacc B	Modifications et mutations diverses
RCS Angers B 338131089 RC 86-B 247 SMIAS INDUSTRIE. Forme : S.A.R.L. Capital : 281 000 euros. Adresse du siège social : Z.I. d'Ecouflant, 6 boulevard de l' Industrie, 49000 Ecouflant. Commentaires : modification survenue sur le capital ( augmentation et conversion en euros). Date d'effet : 22 novembre 2001.
27/04/1999	Bodacc B	Modifications et mutations diverses
338 131 089. RCS Angers. RC 86-B 247 SMIAS INDUSTRIE. Forme : S.A.R.L. Capital : 1 405 000 F (fixe). Adresse du siège social : Z.I. d'Ecouflant, 6 boulevard de l'Industrie, 49000 Ecouflant. Administration : nouveau commissaire aux comptes titulaire : CABINET ROUXEL - BRIERE - AGEFEX, représentée par BRIERE (François) nouveau commissaire aux comptes suppléant : ROUXEL (Etienne). Date d'effet : 11 mars 1999.
24/01/1996	Bodacc A	Autres jugements et ordonnances
Avis de dépot de l'état des créances. RCS Angers B 338 131 089 RC 86-B 247 SMIAS INDUSTRIE. Forme : S.A.R.L. Adresse : boulevard de l'Industrie, zone industrielle Ecouflant, 49000 Angers Dépot de l'état des créances au tribunal de commerce de: Angers , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.
13/04/1995	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Angers B 338131089 RC 86-b 247 SMIAS INDUSTRIE. Forme : S.A.R.L. Capital : 250 000 F (fixe). Adresse : boulevard de l' Industrie, Ecouflant 49000 Angers Nouvelle situation du siège social. Capital : 1 405 000 F Objet social: Activité : l'étude, la réalisation, la maintenance de tous aménagements, équipements et installations industriels. Date d'effet : 20 janvier 1995.

COMPANY EVENTS HISTORY

Date	Description
28/02/2011	Bodacc B: Various editing or changing
07/02/2011	Capital increase
07/02/2011	Capital reduction
07/02/2011	Updated articles of association
07/02/2011	Minutes of general meeting of shareholders
31/12/2010	Other modification of Establishment
30/12/2010	Legal Gazette: Modification of the share capital
14/01/2010	Payment incident closed
13/11/2009	Payment incident detected
04/08/2009	Bodacc B: Various editing or changing
07/07/2009	New manager
07/07/2009	Private document
07/07/2009	Updated articles of association
07/07/2009	Appointment/resignation of company officers
07/07/2009	Minutes of general meeting of shareholders
07/07/2009	Sale of shares
02/06/2009	Preferential right lapsed
15/05/2009	Bodacc C : Deposit accounts notice
15/04/2009	Unfiling of a Social Security preferential right
15/04/2009	New Filling of Social Security preferential right
30/09/2008	New accounts available
24/04/2008	Bodacc C : Deposit accounts notice
11/12/2007	Collection of preferential rights activated for this company
30/09/2007	New accounts available
09/10/2006	Changement de date de clôture
09/10/2006	New closing date
09/10/2006	Private document
09/10/2006	PV d'Assemblée
09/10/2006	Minutes of general meeting of shareholders
09/10/2006	Statuts mis à jour
09/10/2006	Updated articles of association
30/09/2006	New accounts available
09/05/2006	PV d'Assemblée
09/05/2006	Minutes of general meeting of shareholders
09/05/2006	Changement de date de clôture
09/05/2006	Acte modificatif
09/05/2006	New closing date
09/05/2006	Private document
09/05/2006	Acte sous seing privé
15/06/2005	New collective procedure
31/03/2004	New accounts available
31/03/2003	New accounts available
16/10/2002	Acte modificatif
16/10/2002	Acte sous seing privé
16/10/2002	Statuts mis à jour
16/10/2002	PV d'Assemblée
25/03/2002	PV d'Assemblée
25/03/2002	Acte sous seing privé
25/03/2002	Statuts mis à jour
25/03/2002	Acte modificatif
25/03/2002	Cession de parts
19/02/2002	PV d'Assemblée
19/02/2002	Expédition acte notarié
19/02/2002	Statuts mis à jour
19/02/2002	Cession de parts
19/02/2002	Donation/Partage
11/01/2002	Acte modificatif
11/01/2002	Donation/Partage
11/01/2002	Expédition acte notarié
11/01/2002	Statuts mis à jour
11/12/2001	PV d'Assemblée
11/12/2001	Acte sous seing privé
11/12/2001	Conversion du Capital Social en Euros
11/12/2001	Augmentation de Capital
11/12/2001	Statuts mis à jour
11/12/2001	Acte modificatif
02/04/1999	Acte sous seing privé
02/04/1999	Nomination/démission des organes de gestion
02/04/1999	PV d'Assemblée
02/04/1999	Changement de Commissaire aux Comptes
13/11/1997	PV d'Assemblée
13/11/1997	Acte sous seing privé
13/11/1997	Cession de parts
13/11/1997	Statuts mis à jour
13/11/1997	Acte modificatif
13/11/1997	Nomination/démission des organes de gestion
24/01/1996	New collective procedure
22/02/1995	Augmentation de Capital
22/02/1995	PV d'Assemblée
22/02/1995	Certificat de dépôt des fonds
22/02/1995	Acte sous seing privé
22/02/1995	Acte modificatif
22/02/1995	Cession de parts
22/02/1995	Statuts mis à jour
22/02/1995	Modification de l'objet social
01/12/1994	Cession de parts
01/12/1994	Acte sous seing privé

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.21
UK Pound	1	Rs.77.75
Euro	1	Rs.64.58

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.