MIRA INFORM REPORT

Report Date :

23.02.2012

IDENTIFICATION DETAILS

Name :	MILLENNIUM INORGANIC CHEMICALS THANN
Registered Office :	Millennium Inorganic Chemicals Thann 95 Rue Du General De Gaulle 68800 Thann
Country :	France
Financials (as on) :	31.12.2008
Date of Incorporation :	December 2001
Com. Reg. No.:	RCS Mulhouse B 440 140 309
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacture of dyes and pigments
No. of Employees :	250 to 499 employees

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 :	250,000 €
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

MILLENNIUM INORGANIC CHEMICALS THANN

SIRET

440 140 309 00012

company summary

Acronym	MIC THANN SAS
Activity (APE)	Manufacture of dyes and pigments (2012Z)	Legal form	Simplified joint stock company
Phone	03 89 38 47 11	RCS Registration	RCS Mulhouse B 440 140 309
Fax	03 89 38 47 34	Share capital	80,060,700 Euros
Address	MILLENNIUM INORGANIC CHEMICALS THANN 95 RUE DU GENERAL DE GAULLE 68800 THANN	Incorporated Date	12/2001
Nationality	France	Status	Economically active

Trading to Date	12/31/2008	12/31/2007	12/31/2005
Turnover	95,791,500 €	87,863,077 €	78,404,563 €
Gross Operating Surplus	2,63 % Turnover	8,89 % Turnover	4,78 % Turnover
Net worth	81,128,516 €	83,206,727 €	77,608,427 €
Employees	250 to 499 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Fabrication de colorants et de pigments (2012Z)
RCS Registration	RCS Mulhouse B 440 140 309	Share capital	80,060,700 Euros
Registration Court	Mulhouse (68)	Legal form	Simplified joint stock company
Court Registry Number	01 B 00689	EU VAT Number	FR00440140309
Incorporation Date	12/2001	Formation Date	12/2001
Deregistration Date		Last account Date	31/12/2008
Nationality	France

CREDIT recommendation

Current Credit Limit: 250,000 €

DIRECTORS/MANAGEMENT

directors

Name	M. WENDLING CHRISTIAN
Manager position	Président	Date of birth	05/01/1955
Place of birth	BADEN BADEN ALLEMAGNE
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

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Status of Monitoring	Collection of preferential rights impossible on this company
Number of active preferential rights	0
Total amount	-
Due remaining amount	-

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2008	31/12/2007	31/12/2005
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	24/11/2010	-	-
Activity Code	2012Z	2012Z	2012Z
Employees	0	275	276

Active account

Annual Accounts	31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	73 526 834	17,6%	62 505 272	7,7%	58 033 687	953 575	7610,7%
- Intangible assets	20 621	-27,0%	28 256	-43,6%	50 055	460	4382,8%
- Tangible assets	68 021 586	23,9%	54 916 036	-3,7%	57 015 945	493 109	13694,4%
- Financial assets	5 484 627	-27,5%	7 560 976	681,3%	967 687	18 061	30267,2%
Net current assets	63 376 666	24,6%	50 848 841	-2,0%	51 864 955	5 034 957	1158,7%
- Stocks	42 520 960	36,4%	31 181 814	11,3%	28 023 372	551 880	7604,7%
- Advanced payments	351 251	24,6%	12 306	96,5%	6 262	0	0%
- Receivables	20 204 531	6,6%	18 954 454	1,5%	18 680 257	1 759 771	1048,1%
- Securities and cash	299 924	-57,2%	700 265	-86,4%	5 155 060	82 438	263,8%
- Prepaid expenses	-	-	-	-	-	477	-
Accounts of regularization	153 750	2110,6%	6 955	-75,1%	27 929	0	0%
Total Assets	137 057 250	20,9%	113 361 069	3,1%	109 926 572	6 750 649	1930,3%

Passive Account

Annual Accounts	31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Shareholders' equity	81 128 516	-2,5%	83 206 727	7,2%	77 608 427	2 139 886	3691,3%
Share capital	80 060 700	0%	80 060 700	0%	80 060 700	360 000	22139,1%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	2 876 591	-16,3%	3 438 839	9,7%	3 133 344	319 736	799,7%
Liabilities	52 799 010	98,0%	26 661 255	-8,5%	29 151 774	5 841 806	803,8%
- Financial liabilities	13 430 631	1014,9%	1 204 631	-81,7%	6 573 664	714 377	1780,0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	29 002 335	60,3%	18 089 945	6,0%	17 067 116	766 161	3685,4%
- Tax and social liabilities	4 801 905	1,4%	4 737 520	12,2%	4 221 560	557 970	760,6%
- Other debts and fixed assets liabilities	5 817 275	116,8%	2 683 403	102,9%	1 322 458	211 744	2647,3%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	137 057 253	20,9%	113 361 069	3,1%	109 926 572	6 750 648	1930,3%

Results

Annual Accounts	31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Sales of Goods	108 961 720	13,4%	96 107 802	14,8%	83 743 150	9 613 190	1033,5%
Net turnover	95 791 500	9,0%	87 863 077	12,1%	78 404 563	8 743 070	995,6%
- of which net export turnover	24 041 361	17,9%	20 396 461	0%	0	3 424 889	602,0%
Operating charges	110 986 639	20,6%	92 056 774	8,0%	85 232 363	9 405 357	1080,0%
Operating profit/loss	-2 024 919	-150,0%	4 051 028	372,0%	-1 489 212	-50 443	-3914,3%
Financial income	409 073	-37,3%	652 788	-29,0%	919 298	46 877	772,7%
Financial charges	825 896	592,0%	119 350	-75,2%	482 043	297 865	177,3%
Financial profit/loss	-416 823	-178,1%	533 437	22,0%	437 254	-24 920	-1572,6%
Pretax net operating income	-2 441 742	-153,3%	4 584 466	535,8%	-1 051 957	-12 166	-19970,2%
Extraordinary income	1 877 473	15,7%	1 622 153	-81,0%	8 549 747	35 287	5220,6%
Extraordinary charges	1 350 143	4,0%	1 298 146	-0,8%	1 308 489	11 085	12079,9%
Extraordinary profit/loss	527 330	-668,4%	324 007	-95,5%	7 241 258	-4 081	13021,6%
Net result	-1 841 789	-137,3%	4 934 896	-20,3%	6 188 756	6 153	-30033,2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2008	31/12/2007	31/12/2005
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2008		31/12/2007		31/12/2005
	Grand Total (I to VI)	Net	137 057 250	20,9%	113 361 069	3,1%	109 926 572
	Gross	CO	179 576 571	19,1%	150 838 736	8,5%	139 058 609
	Amortisation	1A	42 519 321	13,5%	37 477 667	28,6%	29 132 036

Non declared distributed capital (I)

		31/12/2008		31/12/2007		31/12/2005
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

			31/12/2008		31/12/2007		31/12/2005
	Total Active fixed asset (II)	Net	73 526 834	17,6%	62 505 272	7,7%	58 033 687
	Gross	BJ	112 572 355	15,5%	97 456 880	14,4%	85 160 724
	Amortisation	BK	39 045 521	11,7%	34 951 608	28,8%	27 127 036

Intangilble fixed assets

			31/12/2008		31/12/2007		31/12/2005
	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	20 621	-27,0%	28 256	-43,6%	50 055
	Gross	AF	749 638	0,6%	744 844	0,6%	740 715
	Amortisation	AG	729 017	1,7%	716 588	3,8%	690 660
	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	20 621	-27,0%	28 256	-43,6%	50 055

Tangilble fixed assets

			31/12/2008		31/12/2007		31/12/2005
	Lands	Net	695 276	-3,7%	722 016	-6,9%	775 500
	Gross	AN	990 318	0%	990 318	0%	990 318
	Amortisation	AO	295 042	10,0%	268 302	24,9%	214 818
	Buildings	Net	6 101 144	-3,1%	6 294 454	-6,2%	6 711 248
	Gross	AP	8 639 009	0,5%	8 592 640	0,7%	8 535 877
	Amortisation	AQ	2 537 865	10,4%	2 298 186	26,0%	1 824 629
	Plant	Net	40 207 708	-4,7%	42 174 274	-8,7%	46 195 787
	Gross	AR	74 957 897	2,4%	73 180 389	4,4%	70 073 557
	Amortisation	AS	34 750 189	12,1%	31 006 115	29,9%	23 877 770
	Other tangible fixed assets	Net	317 599	-6,6%	339 896	-15,3%	401 401
	Gross	AT	1 051 007	4,9%	1 002 312	8,9%	920 559
	Amortisation	AU	733 408	10,7%	662 416	27,6%	519 158
	Fixed assets in construction	Net	20 699 859	284,4%	5 385 396	83,7%	2 932 009
	Gross	AV	20 699 859	284,4%	5 385 396	83,7%	2 932 009
	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	68 021 586		54 916 036		57 015 945

Financial assets

			31/12/2008		31/12/2007		31/12/2005
	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	5 342 090	-28,2%	7 437 594	718,4%	908 780
	Gross	BF	5 342 090	0%	7 437 594	0%	908 780
	Amortisation	BG	0		0		0
	Other financial assets	Net	142 537	15,5%	123 382	109,5%	58 907
	Gross	BH	142 537	15,5%	123 382	109,5%	58 907
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		5 484 627		7 560 976		967 687

Current Assets (III)

			31/12/2008		31/12/2007		31/12/2005
	Total Assets	Net	63 376 666	24,6%	50 848 841	-2,0%	51 864 955
	Gross	CJ	66 850 466	25,2%	53 374 901	-0,9%	53 869 955
	Amortisation	CK	3 473 800	37,5%	2 526 059	26,0%	2 005 000

Stocks

			31/12/2008		31/12/2007		31/12/2005
	Raw materials	Net	16 428 078	20,0%	13 690 638	-7,0%	14 716 677
	Gross	BL	17 560 978	18,0%	14 878 453	-5,8%	15 793 677
	Amortisation	BM	1 132 900	-4,6%	1 187 815	10,3%	1 077 000
	Work in progress (goods)	Net	129 049	-89,1%	1 180 519	21,9%	968 704
	Gross	BN	1 090 249	-48,2%	2 106 463	37,1%	1 536 304
	Amortisation	BO	961 200	3,8%	925 944	63,1%	567 600
	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	25 815 404	59,7%	16 160 198	32,4%	12 207 078
	Gross	BR	27 195 104	64,1%	16 572 498	31,9%	12 567 478
	Amortisation	BS	1 379 700	234,6%	412 300	14,4%	360 400
	Goods for resale	Net	148 429	-1,3%	150 459	14,9%	130 913
	Gross	BT	148 429	-1,3%	150 459	14,9%	130 913
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	42 520 960	36,4%	31 181 814	11,3%	28 023 372

Advance payments to suppliers

			31/12/2008		31/12/2007		31/12/2005
	Advance payments to suppliers	Net	351 251	2754,3%	12 306	96,5%	6 262
	Gross	BV	351 251	2754,3%	12 306	96,5%	6 262
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2008		31/12/2007		31/12/2005
	Trade accounts receivable	Net	16 598 453	-1,4%	16 833 275	0,5%	16 751 460
	Gross	BX	16 598 453	-1,4%	16 833 275	0,5%	16 751 460
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	3 551 493	74,4%	2 035 870	28,1%	1 589 748
	Gross	BZ	3 551 493	74,4%	2 035 870	28,1%	1 589 748
	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	20 149 946	6,8%	18 869 145	2,9%	18 341 208

Divers

			31/12/2008		31/12/2007		31/12/2005
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	299 924	-57,2%	700 265	-86,4%	5 155 060
	Gross	CF	299 924	-57,2%	700 265	-86,4%	5 155 060
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	299 924	-57,2%	700 265	-86,4%	5 155 060

Prepaid expenses

			31/12/2008		31/12/2007		31/12/2005
	Prepaid expenses	Net	54 585	-36,0%	85 309	-74,8%	339 049
	Gross	CH	54 585	-36,0%	85 309	-74,8%	339 049
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2008		31/12/2007		31/12/2005
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	153 750	2110,6%	6 955	-75,1%	27 929
Gross		153 750	-	-	-	-

References

		31/12/2008		31/12/2007		31/12/2005
Due within one year	CP	0	0%	0	0%	0
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)

		31/12/2008		31/12/2007		31/12/2005
Grand Total (I to V)	EE	137 057 253	20,9%	113 361 069	3,1%	109 926 572

Shareholder Equity (I)

			31/12/2008		31/12/2007		31/12/2005
	Total shareholders' equity (Total I)	DL	81 128 516	-2,5%	83 206 727	7,2%	77 608 427
	Equity and shareholders' equity	DA	80 060 700	0%	80 060 700	0%	80 060 700
	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	197 066	0%	197 066	0%	197 066
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	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	-1 002 519	83,1%	-5 937 416	53,7%	-12 833 563
	Profit or loss for the period	DI	-1 841 789	-137,3%	4 934 896	-20,3%	6 188 756
	Investment grants	DJ	3 715 058	-6,0%	3 951 480	-1,1%	3 995 468
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2008		31/12/2007		31/12/2005
	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)

			31/12/2008		31/12/2007		31/12/2005
	Total provisions for risks and charges (Total III)	DR	2 876 591	-16,3%	3 438 839	9,7%	3 133 344
	Risk provisions	DP	1 303 787	-29,0%	1 835 302	18,6%	1 547 867
	Reserves for charges	DQ	1 572 804	-1,9%	1 603 536	1,1%	1 585 477

Liabilities (IV)

			31/12/2008		31/12/2007		31/12/2005
	Total Liabilities (Total IV)	EC	52 799 010	98,0%	26 661 255	-8,5%	29 151 774
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	0
	Sundry loans and financial liabilities	DV	13 430 631	1014,9%	1 204 631	-81,7%	6 573 664
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	29 002 335	60,3%	18 089 945	6,0%	17 067 116
	Tax and social security liabilities	DY	4 801 905	1,4%	4 737 520	12,2%	4 221 560
	Fixed asset liabilities	DZ	5 560 984	111,7%	2 626 867	104,2%	1 286 241
	Other debts	EA	3 155	37,8%	2 290	-28,2%	3 191

Translation loss (V)

		31/12/2008		31/12/2007		31/12/2005
Translation loss (Total V)	ED	253 136	366,6%	54 246	64,3%	33 026

Equalization accounts

		31/12/2008		31/12/2007		31/12/2005
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2008		31/12/2007		31/12/2005
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	22 864 409
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)

		31/12/2008		31/12/2007		31/12/2005
Operating result (Total I-II)	GG	-2 024 919	-150,0%	4 051 028	372,0%	-1 489 212

2 - Financial result (V - VI)

		31/12/2008		31/12/2007		31/12/2005
Financial result (Total V-VI)	GV	-416 823	-178,1%	533 437	22,0%	437 254

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

		31/12/2008		31/12/2007		31/12/2005
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-2 441 742	-153,3%	4 584 466	535,8%	-1 051 957

4 - Extraordinary result (VII-VIII)

		31/12/2008		31/12/2007		31/12/2005
Extraordinary result (Total VII-VIII)	HI	527 330	62,8%	324 007	-95,5%	7 241 258

Profit or loss

		31/12/2008		31/12/2007		31/12/2005
Profit or loss	HN	-1 841 789	-137,3%	4 934 896	-20,3%	6 188 756

Total Income (I+III+V+VII)

		31/12/2008		31/12/2007		31/12/2005
Total Income (I+III+V+VII)	HL	111 248 266	13,1%	98 382 743	5,5%	93 212 196

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

		31/12/2008		31/12/2007		31/12/2005
Total charges (Total II+IV+VI+VIII+IX+X)	HM	113 090 057	21,0%	93 447 847	7,4%	87 023 440

Operating income (I)

		31/12/2008		31/12/2007		31/12/2005
Total operating income (Total I)	FR	108 961 720	13,4%	96 107 802	14,8%	83 743 150

Operating income (details)

			31/12/2008		31/12/2007		31/12/2005
	Sale of goods for resale	FC	33 600	-91,2%	381 700	-27,1%	523 800
	France	FA	33 600	-91,2%	381 700	-27,1%	523 800
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	90 005 719	9,3%	82 370 046	0%	0
	France	FD	66 227 235	6,4%	62 255 249	0%	0
	Export	FE	23 778 484	18,2%	20 114 797	0%	0
	Sale of services	FI	5 752 181	12,5%	5 111 331	-93,4%	77 880 763
	France	FG	5 489 304	13,7%	4 829 667	-93,8%	77 880 763
	Export	FH	262 877	-6,7%	281 664	0%	0
	Net turnover	FL	95 791 500	9,0%	87 863 077	12,1%	78 404 563
	France	FJ	71 750 139	6,3%	67 466 616	-14,0%	78 404 563
	Export	FK	24 041 361	17,9%	20 396 461	0%	0
	Stocked production	FM	9 606 391	87,0%	5 137 896	56,2%	3 289 734
	Self-constructed assets	FN	760 319	-2,1%	776 746	84,3%	421 375
	Operating grants	FO	33 710	11,3%	30 277	-79,4%	147 193
	Release of reserves and provisions	FP	2 769 800	20,4%	2 299 804	55,4%	1 480 282
	Other income	FQ	0	0%	0	0%	0

Operating charges (II)

		31/12/2008		31/12/2007		31/12/2005
Total operating charges (Total II)	GF	110 986 639	20,6%	92 056 774	8,0%	85 232 363

Exploitation charges

		31/12/2008		31/12/2007		31/12/2005
Purchase of goods for resale	FS	6 424 389	3829,7%	163 483	-58,3%	391 960
Change in stocks of goods for resale	FT	2 029	-98,7%	155 990	508,1%	-38 223
Purchase of raw materials	FU	39 373 335	19,8%	32 865 406	6,5%	30 868 236
Change in stocks of raw materials	FV	-2 682 525	-1,0%	-2 657 054	51,8%	-5 511 551
Other external purchases and charges	FW	40 350 296	12,5%	35 859 267	6,8%	33 584 525
Tax, duty and similar payments	FX	1 730 123	-5,2%	1 824 629	-14,4%	2 131 548
Payroll	FY	12 406 693	1,9%	12 173 064	3,9%	11 715 706
Social security costs	FZ	6 070 658	8,2%	5 611 255	4,5%	5 370 708

Depreciation

		31/12/2008		31/12/2007		31/12/2005
Depreciation of fixed assets	GA	4 219 950	4,2%	4 051 139	-22,2%	5 209 242
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	2 355 900	60,6%	1 467 059	58,1%	928 000
Provisions for risks and charges	GD	179 769	-66,9%	542 532	-6,8%	582 208

Other charges

		31/12/2008		31/12/2007		31/12/2005
Other charges	GE	556 022	0%	0	0%	0

Operating charges (III-IV)

		31/12/2008		31/12/2007		31/12/2005
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)

			31/12/2008		31/12/2007		31/12/2005
	Total financial income (Total V)	GP	409 073	-37,3%	652 788	-29,0%	919 298
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	108 595	-65,9%	318 873	0%	0
	Other interest and similar income	GL	31 529	-55,3%	70 587	74,8%	40 393
	Released provisions and transferred charges	GM	6 955	-69,7%	22 970	-78,8%	108 240
	Exchange gains	GN	261 994	9,0%	240 356	-68,8%	770 664
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2008		31/12/2007		31/12/2005
	Total financial charge (Total VI)	GU	825 896	592,0%	119 350	-75,2%	482 043
	Financial reserves and provisions	GQ	153 750	2110,6%	6 955	-75,1%	27 929
	Interest and similar charges	GR	273 026	508,7%	44 851	-54,9%	99 365
	Exchange losses	GS	399 120	490,9%	67 544	-81,0%	354 748
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2008		31/12/2007		31/12/2005
	Total extraordinary income (Total VII)	HD	1 877 473	15,7%	1 622 153	-81,0%	8 549 747
	Extraordinary operating income	HA	580 416	13742,5%	4 193	-12,2%	4 778
	Extraordinary income from capital transactions	HB	238 057	-36,0%	371 821	0%	0
	Released provisions and transferred charges	HC	1 059 000	-15,0%	1 246 139	-85,4%	8 544 968

Extraordinary charges (VIII)

			31/12/2008		31/12/2007		31/12/2005
	Total extraordinary charges (Total VIII)	HH	1 350 143	4,0%	1 298 146	-0,8%	1 308 489
	Extraordinary operating charges	HE	58 782	128,5%	25 725	74,5%	14 743
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	1 291 361	1,5%	1 272 421	-1,6%	1 293 744

Employee profit sharing (IX)

		31/12/2008		31/12/2007		31/12/2005
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2008		31/12/2007		31/12/2005
Tax on profits (Total X)	HK	-72 621	-174,8%	-26 423	-4948,3%	545

References

		31/12/2008		31/12/2007		31/12/2005
Of which equipment leases	HP	0	0%	0	0%	0
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)

			31/12/2008		31/12/2007		31/12/2005
	Gross value at begin of period	OG	0	0%	90 658 154	8,2%	83 757 120
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	69 268 174	2131,8%	3 103 631
	Decreasess by budget item transfer	OK1	30 762	-91,9%	382 129	0%	0
	Decreasess by transfers	OK2	70 612 327	13,7%	62 087 318	3552,1%	1 700 027
	Gross value at the end of period	OL	112 572 353	15,5%	97 456 880	14,4%	85 160 724

Research and development Charge (Total I)

			31/12/2008		31/12/2007		31/12/2005
	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)

			31/12/2008		31/12/2007		31/12/2005
	Gross value at begin of period	KD	744 844	-0,9%	751 772	8,8%	690 764
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	4 793	-35,5%	7 436	-85,1%	49 950
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	14 364	0%	0
	Gross value at the end of period	LW	749 637	0,6%	744 844	0,6%	740 715

Tangible fixed assets (Total III)

			31/12/2008		31/12/2007		31/12/2005
	Gross value at begin of period	LN	89 151 056	5,7%	84 322 560	3,9%	81 147 147
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	17 471 527	221,1%	5 441 882	81,2%	3 003 371
	Decreasess by budget item transfer	NG1	30 762	-91,9%	382 129	0%	0
	Decreasess by transfers	NG2	253 732	9,7%	231 254	-66,9%	698 197
	Gross value at the end of period	NH	106 338 089	19,3%	89 151 059	6,8%	83 452 321

Fiancial assets (Total IV)

			31/12/2008		31/12/2007		31/12/2005
	Gross value at begin of period	LQ	7 560 976	35,4%	5 583 820	190,9%	1 919 208
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	68 282 246	7,0%	63 818 856	126753,8%	50 309
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	70 358 595	13,8%	61 841 700	6072,9%	1 001 829
	Gross value at the end of period	NK	5 484 627	-27,5%	7 560 976	681,3%	967 688

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

			31/12/2008		31/12/2007		31/12/2005
	Reserve for depreciation value at begin of period	0N	0	0%	30 932 665	30,4%	23 718 310
Increases		0P	0	0%	4 051 420	-25,3%	5 425 859
Decreasess		0Q	0	0%	32 479	-98,4%	2 017 133
	Reserve for depreciation value at the end of period	0R	0	0%	34 951 606	28,8%	27 127 036

Research and development charge (Total I)

			31/12/2008		31/12/2007		31/12/2005
	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)

			31/12/2008		31/12/2007		31/12/2005
	Reserve for depreciation value at begin of period	PE	716 588	0,0%	716 260	12,6%	636 229
Increases		PF	12 428	-15,4%	14 692	-73,0%	54 430
Decreasess		PG	0	0%	14 364	0%	0
	Decreasess by budget item transfer	PH	729 016	1,7%	716 588	3,8%	690 660

Total fixed assets amotisation (Total III)

			31/12/2008		31/12/2007		31/12/2005
	Reserve for depreciation value at begin of period	QU	34 235 017	13,3%	30 216 405	30,9%	23 082 081
Increases		QV	4 207 519	4,2%	4 036 728	-24,8%	5 371 428
Decreases		QW	126 033	595,7%	18 115	-99,1%	2 017 133
	Decreasess by budget item transfer	QX	38 316 503	11,9%	34 235 018	29,5%	26 436 376

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

			31/12/2008		31/12/2007		31/12/2005
	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

			31/12/2008		31/12/2007		31/12/2005
	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)

			31/12/2008		31/12/2007		31/12/2005
	Value at begining of period	7C	0	0%	6 190 648	-52,1%	12 921 350
Increases		UB	0	0%	3 075 546	17,6%	2 615 138
Decreases		UC	0	0%	3 301 295	-68,3%	10 398 144
	Value at the end of period	UD	0	0%	5 964 898	16,1%	5 138 344

Includes Total allocations

Operating	UE	0	0%	2 009 592	33,1%	1 510 208
Financial	UG	0	0%	8 955	-67,9%	27 929
Exceptional	UJ	0	0%	1 057 000	-1,9%	1 077 000

Includes Total Withdrawal

Operating	UF	0	0%	2 018 688	80,3%	1 119 858
Financial	UH	0	0%	22 970	-78,8%	108 240
Exceptional	UK	0	0%	1 246 139	-86,4%	9 170 045

Total regulated provisions (Total I)

			31/12/2008		31/12/2007		31/12/2005
	Value at begining of period	3Z	0	0%	0	0%	6 779 109
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	6 779 109
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2008		31/12/2007		31/12/2005
	Value at begining of period	5Z	0	0%	3 331 409	25,2%	2 660 065
Increases		TV	0	0%	549 487	-9,9%	610 138
Decreases		TW	0	0%	442 056	223,0%	136 858
	Value at the end of period	TX	0	0%	3 438 839	9,7%	3 133 344

Total Provision for depreciation (Total III)

			31/12/2008		31/12/2007		31/12/2005
	Value at begining of period	7B	0	0%	2 859 239	-17,9%	3 482 175
Increases		TY	0	0%	2 526 059	26,0%	2 005 000
Decreases		TZ	0	0%	2 859 239	-17,9%	3 482 175
	Value at the end of period	UA	0	0%	2 526 059	26,0%	2 005 000

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

		31/12/2008		31/12/2007		31/12/2005
Gross value	VT	25 689 156	-3,1%	26 515 431	35,0%	19 647 946
1 year at most	VU	20 307 718	7,1%	18 957 656	1,2%	18 739 165
More than one year	VV	5 381 438	-28,8%	7 557 775	731,6%	908 780

State of loans

		31/12/2008		31/12/2007		31/12/2005
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	5 342 090	-28,2%	7 437 594	718,4%	908 780
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	142 536	15,5%	123 382	109,5%	58 907
Other financial assets (1 year at most)	UV	0	0%	3 201	-94,6%	58 907

Receivables statement of assets

		31/12/2008		31/12/2007		31/12/2005
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	16 598 453	-1,4%	16 833 275	958,9%	1 589 748
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	0	0%	0	0%	0
Social Security and other social organizations	UZ	1 701	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	2 948 295	87,1%	1 575 934	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	601 496	30,8%	459 935	0%	0

Prepaid

		31/12/2008		31/12/2007		31/12/2005
Prepaid	VS	54 585	-36,0%	85 309	-74,8%	339 049

State Debt

			31/12/2008		31/12/2007		31/12/2005
	Total debt (gross)	VY	52 799 008	98,0%	26 661 255	-8,5%	29 151 774
1 year at most		VZ2	39 469 365	49,9%	26 337 668	15,2%	22 864 409
More than 1 year and 5 years at most		VZ3	13 229 643	5817,0%	223 587	-96,4%	6 183 364
More than 5 years		VZ4	100 000	0%	100 000	-3,8%	104 000

Details

			31/12/2008		31/12/2007		31/12/2005
	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	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
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	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	13 430 630	1014,9%	1 204 631	-81,7%	6 573 664
1 year at most		8A2	100 987	-88,5%	881 044	207,7%	286 300
More than 1 year and 5 years at most		8A3	13 229 643	5817,0%	223 587	-96,4%	6 183 364
	Suppliers and associated accounts (gross)	8B1	29 002 335	60,3%	18 089 945	6,0%	17 067 116
1 year at most		8B2	29 002 335	60,3%	18 089 945	6,0%	17 067 116
More than 1 year and 5 years at most		8B3	29 002 335	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	3 290 768	17,5%	2 801 299	0%	0
1 year at most		8C2	3 290 768	17,5%	2 801 299	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	1 110 112	0,9%	1 100 571	-73,9%	4 221 560
1 year at most		8D2	1 110 112	0,9%	1 100 571	-73,9%	4 221 560
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	397 781	0%	0
1 year at most		VW2	0	0%	397 781	0%	0
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	401 024	-8,4%	437 867	0%	0
1 year at most		VQ2	0	0%	437 867	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	5 560 984	111,7%	2 626 867	104,2%	1 286 241
1 year at most		8J2	5 560 984	111,7%	2 626 867	104,2%	1 286 241
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	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
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	3 155	37,8%	2 290	-28,2%	3 191
1 year at most		8K2	3 155	37,8%	2 290	-28,2%	3 191
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	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2008		31/12/2007		31/12/2005
Loans made during the period	VJ	0	0%	67 056	-98,7%	5 101 539
Debt repaid during the period	VK	0	0%	112 720	-81,2%	598 851

Table allocation results and other information
Dividends distributed

		31/12/2008		31/12/2007		31/12/2005
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2008		31/12/2007		31/12/2005
Commitments leasing furniture	YQ	0	0%	0	0%	0
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

		31/12/2008		31/12/2007		31/12/2005
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

		31/12/2008		31/12/2007		31/12/2005
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

		31/12/2008		31/12/2007		31/12/2005
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

		31/12/2008		31/12/2007		31/12/2005
Average number of employees	YP	0	0%	275	-0,4%	276

Groups and Shareholders

		31/12/2008		31/12/2007		31/12/2005
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Fixed Asset Financing		1,21	-4,0%	1,26	-6,0%	1,34	1,21	0%
Global Debt		198 days	81,7%	109 days	-18,7%	134 days	159 days	24,5%
Working Capital Fund overall net		90 days	-13,5%	104 days	-22,4%	134 days	89 days	1,1%
Financial independence		%	-	%	-	%	603,47%	-
More ratios
Solvability		59,19%	-19,4%	73,40%	4,0%	70,60%	30,33%	95,2%
Capacity debt futures		%	-	%	-	%	6069,16%	-
Coverage of current assets by net working capital overall		35,79%	-24,7%	47,56%	-13,1%	54,70%	39,71%	-9,9%
General Liquidity		0,51	-29,2%	0,72	-12,2%	0,82	0,73	-30,1%
Restricted Liquidity		0,52	-30,7%	0,75	-28,6%	1,05	0,89	-41,6%

Management or rotation

		31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Need background in operating working capital		89 days	-11,9%	101 days	-7,3%	109 days	51,50 days	72,8%
Treasury		1 days	-66,7%	3 days	-87,5%	24 days	1 days	0%
Inventory turnover of goods		8 days	-95,3%	170 days	27,8%	133 days	8 days	0%
Average length of credit granted to customers		62 days	-10,1%	69 days	-10,4%	77 days	63,50 days	-2,4%
Average length of credit obtained suppliers		125 days	27,6%	98 days	-5,8%	104 days	58 days	115,5%
More ratios
Inventory turnover of raw materials in industrial enterprises		161 days	-1,2%	163 days	-11,4%	184 days	75,50 days	113,2%
Inventory turnover of intermediate and finished products in the industrial enterprise		90 days	-9,1%	99 days	-	days	233 days	-61,4%
Rotation tangible assets		90,08%	-8,6%	98,56%	4,9%	93,95%	229,33%	-60,7%

Profitability of the business

		31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Margin trading		-6,67%	-9628,6%	0,07%	-68,2%	0,22	0%	0%
Profitability of the business		2,63	-70,4%	8,89	86,0%	4,78	2,65%	-0,8%
Net profit		-1,92%	-134,2%	5,62%	-28,8%	7,89%	-0,10%	-1820,0%
More ratios
Growth rate of turnover (excluding VAT)		9,02%	-25,2%	12,06%	503,3%	-2,99%	1,05%	759,0%
Rates integration		23,69%	-24,0%	31,17%	7,1%	29,11%	27,43%	-13,6%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		81,43%	25,4%	64,93%	-13,3%	74,87%	79,78%	2,1%
Weight interests		0,86	514,3%	0,14%	-77,0%	0,61%	1,73%	-50,3%

Return on capital

		31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Cash flow from the overall profitability		3,74%	-50,3%	7,52%	154,1%	2,96%	4,07%	-8,1%
Rates of economic profitability		3%	-66,7%	9%	125,0%	4%	7%	-57,1%
Financial profitability		81128516%	-2,5%	83206727%	7,2%	77608427%	2139886%	3691,3%
Return on investment		-1,07%	-117,9%	5,99%	-24,4%	7,92%	9,03%	-111,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2008		31/12/2007		31/12/2005	Sector Median 2008
Turnover	95 791 500	9,0%	87 863 077	12,1%	78 404 563	8 743 070 €	995,6%

Sales of goods	33 600	-91,2%	381 700	-27,1%	523 800
- Purchase of goods	6 424 389	3829,7%	163 483	-58,3%	391 960
+/- Stock of goods variation	2 029	-98,7%	155 990	508,1%	-38 223
Trading margin	-6 392 818 €	-10373,4%	62 227 €	-63,4%	170 063 €	0 €	0%
	-6,67 % CA	-9628,6%	0,07 % CA	-68,2%	0,22 % CA	0 % CA	0%

Sale of goods produced	95 757 900	9,5%	87 481 377	12,3%	77 880 763
+/- Stocked production	9 606 391	87,0%	5 137 896	56,2%	3 289 734
+ Self-constructed assets	760 319	-2,1%	776 746	84,3%	421 375
Period production	106 124 610 €	13,6%	93 396 019 €	14,5%	81 591 872 €	8 599 981 €	1134,0%
	110,79 % CA	4,2%	106,30 % CA	2,1%	104,07 % CA	95,51 % CA	16,0%

Trading margin	-6 392 818	-10373,4%	62 227	-63,4%	170 063	0	0%
+ Period Production	106 124 610	13,6%	93 396 019	14,5%	81 591 872	8 599 981	1134,0%
- Purchase of raw materials	39 373 335	19,8%	32 865 406	6,5%	30 868 236
+/- Change in stocks of raw materiels	-2 682 525	-1,0%	-2 657 054	51,8%	-5 511 551
- Other external purchases and charges	40 350 296	12,5%	35 859 267	6,8%	33 584 525
Added value	22 690 686 €	-17,2%	27 390 627 €	20,0%	22 820 725 €	1 299 566 €	1646,0%
	23,69 % CA	-24,0%	31,17 % CA	7,1%	29,11 % CA	27,43 % CA	-13,6%

Added value	22 690 686 €	-17,2%	27 390 627 €	20,0%	22 820 725 €	1 299 566 €	1646,0%
+ Operating grants	33 710	11,3%	30 277	-79,4%	147 193
- Tax, duty and similar payments	1 730 123	-5,2%	1 824 629	-14,4%	2 131 548
- Personal charges	18 477 351	3,9%	17 784 319	4,1%	17 086 414
Gross operating surplus	2 516 922 €	-67,8%	7 811 956 €	108,3%	3 749 956 €	70 323 €	3479,1%
	2,63 % CA	-70,4%	8,89 % CA	86,0%	4,78 % CA	2,65 % CA	-0,8%

Gross operating surplus	2 516 922 €	-67,8%	7 811 956 €	108,3%	3 749 956 €	70 323 €	3479,1%
+ Release of reserves and provisions	2 769 800	20,4%	2 299 804	55,4%	1 480 282
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	6 755 619	11,5%	6 060 730	-9,8%	6 719 450
- Other charges	556 022	0%	0	0%	0
Operating result	-2 024 919 €	-150,0%	4 051 030 €	372,0%	-1 489 212 €	-50 445 €	-3914,1%
	-2,11 % CA	-145,8%	4,61 % CA	342,6%	-1,90 % CA	-00,66 % CA	-219,7%

Operating result	-2 024 919 €	-150,0%	4 051 030 €	372,0%	-1 489 212 €	-50 445 €	-3914,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	409 073	-37,3%	652 788	-29,0%	919 298
- Financial charges	825 896	592,0%	119 350	-75,2%	482 043
Pre-tax result	-2 441 742 €	-153,3%	4 584 468 €	535,8%	-1 051 957 €	-12 167 €	-19968,6%
	-2,55 % CA	-148,9%	5,22 % CA	489,6%	-1,34 % CA	-01,52 % CA	-67,8%

Extraordinary income	1 877 473	15,7%	1 622 153	-81,0%	8 549 747	35 287	5220,6%
- Extraordinary charges	1 350 143	4,0%	1 298 146	-0,8%	1 308 489
Extraordinary result	527 330 €	62,8%	324 007 €	-95,5%	7 241 258 €	-4 081 €	13021,6%
	0,55 % CA	48,6%	0,37 % CA	-96,0%	9 % CA	-00,10 % CA	650,0%

Pre-tax result	-2 441 742 €	-153,3%	4 584 468 €	535,8%	-1 051 957 €	-12 167 €	-19968,6%
Extraordinary result	527 330 €	62,8%	324 007 €	-95,5%	7 241 258 €	-4 081 €	13021,6%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-72 621	-174,8%	-26 423	-4948,3%	545
Net result	-1 841 791 €	-137,3%	4 934 898 €	-20,3%	6 188 756 €	6 153 €	-30033,2%
	-1,92 % CA	-134,2%	5,62 % CA	-28,8%	7,89 % CA	-00,10 % CA	-1820,0%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Establishment details

Acronym	MIC THANN SAS
Activity (APE)	Fabrication de colorants et de pigments (2012Z)	Business Pages FT®	PRODUIT CHIMIQUE FABRICATION GRO
Postal Address	MILLENNIUM INORGANIC CHEMICALS THANN 95 RUE DU GENERAL DE GAULLE 68800 THANN	Trading Address	95 RUE DU GENERAL DE GAULLE 68800 THANN
Telephone	03 89 38 47 11
Fax	03 89 38 47 34

Type	Head office	Status	Economically active
Formation Date	12/2001	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Haut-Rhin (68)	Region	Alsace
District	6	Area	25
City	THANN	Size of urban area

Other establishments

Branches	3 branch entities in this company
Head office	> MILLENNIUM INORGANIC CHEMICALS THANN <<<  - Fabrication de colorants et de pigments (2012Z)  in THANN  (68800)
Secondary establishments	>  MILLENNIUM INORGANIC CHEMICALS THANN  - Fabrication de colorants et de pigments (2012Z)  in VIEUX THANN  (68800) >  MILLENNIUM INORGANIC CHEMICALS THANN  - Fabrication de colorants et de pigments (2012Z)  in PARIS 2  (75002) >  MILLENNIUM INORGANIC CHEMICALS THANN  - Fabrication de colorants et de pigments (2012Z)  in RUEIL MALMAISON  (92500)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

200 to 249 employees

Company workforce

250 to 499 employees

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
27/10/2010	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 3238 - 440140309 RCS. MILLENNIUM INORGANIC CHEMICALS THANN S.A.S. Forme : S.A.S.. Adresse : 95, rue du Général-de-Gaulle, 68800 Thann. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
13/02/2009	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 2397 - 440140309 RCS. MILLENNIUM CHEMICALS THANN S.A.S. Forme : S.A.S.. Adresse : 95, rue du Général-de-Gaulle, 68800 Thann. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
16/03/2008	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 3875 - 440 140 309 RCS Mulhouse. MILLENNIUM INORGANIC CHEMICALS THANN S.A.S. Forme : Société par Actions Simplifiée associé unique. Sigle : MIC THANN SAS. Capital : 80060700 EUR. Adresse du siège social : 95 rue du Général de Gaulle, 68800 Thann. Commentaires : changement de dénomination (ancienne dénomination : MILLENNIUM CHEMICALS THANN S.A.S.) et ajout d'un sigle, le 02/07/2007.
14/02/2007	Bodacc C	Avis de dépôt des comptes
3375 - RCS Mulhouse B 440 140 309. RC 01-B 689. MILLENNIUM CHEMICALS THANN S.A.S. Forme: S.A.S.. Adresse du siège social: 95, rue du Général-de-Gaulle,68800 Thann. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
04/01/2006	Bodacc C	Avis de dépôt des comptes
3017 - RCS Mulhouse B 440 140 309. RC 01-B 689. MILLENNIUM CHEMICALS THANN S.A.S. Forme: S.A.S.. Adresse du siège social: 95, rue du Général-de-Gaulle,68800 Thann. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
31/08/2005	Bodacc B	Modifications et mutations diverses
1319 - RCS Mulhouse 440 140 309. RC 01-B 689. MILLENNIUM CHEMICALS THANN S.A.S. Forme : S.A.S. à associé unique. Capital : 80 060 700 euros. Adresse du siège social : 95 rue du Général-de-Gaulle,, 68800 Administration : commissaire aux comptes suppléant partant : NICOLAS (Yves). Nouveau commissaire aux comptes suppléant : PRICEWATERHOUSECOOPERS AUDIT S.A. Date d'effet : 27 juin 2003.
31/08/2005	Bodacc B	Modifications et mutations diverses
1320 - RCS Mulhouse 440 140 309. RC 01-B 689. MILLENNIUM CHEMICALS THANN S.A.S. Forme : S.A.S. à associé unique. Capital : 80 060 700 euros. Adresse du siège social : 95 rue du Général-de-Gaulle,, 68800 Administration : nouveau commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT S.A., ancien commissaire aux comptes suppléant. Nouveau commissaire aux comptes suppléant : NICOLAS (Yves). Commissaire aux comptes titulaire partant : COOPER ET LYBDRAND AUDIT. Date d'effet : 29 juin 2004.
03/01/2005	Bodacc C	Avis de dépôt des comptes
2754 - RCS Mulhouse B 440 140 309. RC 01-B 689. MILLENNIUM CHEMICALS THANN S.A.S. Forme: S.A.S.. Adresse du siège social: 95, rue du Général-de-Gaulle,68800 Thann. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
27/08/2003	Bodacc B	Modifications et mutations diverses
RCS Mulhouse 440140309 RC 01-B 689 MILLENNIUM CHEMICALS THANN S.A.S. Forme : S.A.S.U. Capital : 80 060 700 euros. Adresse du siège social : 95 rue du Général-de-Gaulle, 68800 Thann. Administration : ancien président : MAILLOT (Eric). Nouveau président : WENDLING (Christian). Date d'effet : 2 juin 2003.
08/06/2003	Bodacc B	Modifications et mutations diverses
RCS Mulhouse 440140309 RC 01-B 689 MILLENNIUM CHEMICALS THANN S.A.S. Forme : S.A.S.U. Capital : 80 060 700 euros. Adresse du siège social : 95 rue du Général-de-Gaulle, 68800 Thann. Administration : ancien président : WENDLING (Christian). Nouveau président MAILLOT (Eric). Date d'effet : 12 mars 2003.
18/08/2002	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Mulhouse 440140309 RC 01-B 689 MILLENNIUM CHEMICALS THANN SOCIETE PAR ACTIONS SIMPLIFIEE. Forme : S.A.S.U. Capital : 40 000 euros. Adresse : 95 rue du Général-de-Gaulle, 68880 Thann Nouvelle situation du siège social. Capital : 80 060 700 euros Etablissement principal: Activité : fabrication et vente de tous produits chimiques. Adresse : 95 rue du Général-de-Gaulle, 68880 Thann. Commentaires : mise en activité de la société suite à un apport partiel placé sous le régime des scissions des personnes morales ayant participées à l'opération de la STE MILLENNIUM INORGANIC CHEMICALS S.A.S.,. RCS Mulhouse 945 550 119, sis 95 rue du Général-de-Gaulle, 68800 Than Date de début d'activité: 30 avril 2002.
03/02/2002	Bodacc A	Création d'établissement
RCS Mulhouse 440140309 A dater du: 17 décembre 2001 RC 01-B 689 MILLENNIUM CHEMICALS THANN SOCIETE PAR ACTIONS SIMPLIFIEE. Forme : S.A.S.U. Capital : 40 000 euros. Adresse du siège social : 95 rue du Général-de-Gaulle, 68800 Thann. Administration : président : WENDLING ( Christian). Commissaire aux comptes titulaire : COOPERS ET LYBRAND AUDIT. Commissaire aux comptes suppléant : NICOLAS (Yves) Cette société se constitue , mais n'exploite provisoirement aucun établissement.

COMPANY EVENTS HISTORY

Date	Description
27/10/2010	Bodacc C : Deposit accounts notice
13/02/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
16/03/2008	Bodacc B: Various editing or changing
16/03/2008	New Bodacc B ads detected
11/01/2008	Private document
11/01/2008	New company name
11/01/2008	Updated articles of association
11/01/2008	Minutes of general meeting of shareholders
31/12/2007	New accounts available
02/07/2007	Update of Company Name
02/07/2007	Modification to Company Identifier
31/12/2005	New accounts available
25/07/2005	Nomination/démission des organes de gestion
25/07/2005	Appointment/resignation of company officers
25/07/2005	Acte sous seing privé
25/07/2005	Private document
25/07/2005	New auditor
25/07/2005	Changement de Commissaire aux Comptes
25/07/2005	PV d'Assemblée
25/07/2005	Minutes of general meeting of shareholders
01/01/2005	Appointment/resignation of company officers
01/01/2005	Changement de Commissaire aux Comptes
01/01/2005	Minutes of general meeting of shareholders
01/01/2005	PV d'Assemblée
01/01/2005	Nomination/démission des organes de gestion
01/01/2005	Acte sous seing privé
01/01/2005	Private document
01/01/2005	New auditor
31/12/2004	New accounts available
31/12/2003	New accounts available
28/07/2003	PV d'Assemblée
28/07/2003	Nomination/démission des organes de gestion
28/07/2003	Acte sous seing privé
28/04/2003	Nomination/démission des organes de gestion
28/04/2003	PV d'Assemblée
28/04/2003	Acte sous seing privé
13/06/2002	Acte sous seing privé
13/06/2002	Statuts mis à jour
13/06/2002	Déclaration de conformité
13/06/2002	PV d'Assemblée
13/06/2002	Augmentation de Capital
21/03/2002	Acte sous seing privé
21/03/2002	Acte modificatif
17/12/2001	Acte sous seing privé
17/12/2001	Statuts
17/12/2001	Formation de Société

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.24
UK Pound	1	Rs.76.75
Euro	1	Rs.65.16

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.