MIRA INFORM REPORT

Report Date :

18.01.2012

IDENTIFICATION DETAILS

Name :	AUBADE PARIS
Registered Office :	10 A 12 10 Rue Du Colonel Driant 75001 Paris 1
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	September 1956
Com. Reg. No.:	RCS Paris 5 775 695 901
Legal Form :	Simplified joint stock company
Line of Business :	Manufacture of underwear
No. of Employees :	250 to 499 employees

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	1,460,000 €
Status :	Good
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

AUBADE PARIS

SIRET

775 695 901 00063

company summary

Activity (APE)	Manufacture of underwear (1414Z)	Legal form	Simplified joint stock company
Phone	01 70 99 20 00	RCS Registration	RCS Paris 5 775 695 901
Fax		Share capital	15,754,230 Euros
Address	AUBADE PARIS 10 A 12 10 RUE DU COLONEL DRIANT 75001 PARIS 1	Incorporated Date	09/1956
Nationality	France	Status	Inactive (Insee)

company details

Company details

Activity (APE)	Fabrication de vêtements de dessous (1414Z)
RCS Registration	RCS Paris 5 775 695 901	Share capital	15,754,230 Euros
Registration Court	Paris (75)	Legal form	Simplified joint stock company
Court Registry Number	19 5 6B103	EU VAT Number	FR00775695901
Incorporation Date	09/1956	Formation Date	01/1956
Deregistration Date		Last account Date	31/12/2010
Nationality	France

CREDIT RECOMENDATION

Current Credit Limit: 1,460,000 €

DIRECTORS/MANAGEMENT

directors

Name	M. SULZBERGER FELIX
Manager position	Président	Date of birth	25/03/1951
Place of birth	BERNE(SUISSE)
Type of manager	Individual	Name at birth of manager

Name	M. LINDEMANN ANDREAS
Manager position	Directeur général	Date of birth	05/09/1962
Place of birth	LUZERN(SUISSE)
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
Président	M FELIX SULZBERGER
Président	M FELIX SULZBERGER
Directeur général	M CLAUDE FLAURAUD
Directeur général	M ANDREAS LINDEMANN
Directeur général	M ANDREAS LINDEMANN

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

Company monitored since	30/04/2008
Status of Monitoring	No social security and tax office preferential right to date

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.

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	05/05/2011	02/06/2010	-
Activity Code	1414Z	1414Z	1414Z
Employees	0	0	396

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	17 199 090	10,7%	15 536 858	-4,7%	16 303 398	50 024,50	34281,3%
- Intangible assets	9 474 678	33,2%	7 114 903	17,2%	6 070 450	11 773	80378,0%
- Tangible assets	4 982 645	0,8%	4 943 977	-12,4%	5 645 912	16 158	30737,0%
- Financial assets	4 226 399	1,7%	4 154 819	-9,4%	4 587 036	4 900	86153,0%
Net current assets	24 832 405	16,7%	21 286 644	-15,1%	25 084 338	604 881	4005,3%
- Stocks	6 450 059	-11,2%	7 261 256	-18,9%	8 952 451	92 744	6854,7%
- Advanced payments	135 290	16,7%	181 059	56,6%	115 650	0	0%
- Receivables	12 754 695	17,1%	10 889 734	-12,3%	12 418 304	194 223,50	6467,0%
- Securities and cash	5 492 361	85,9%	2 954 595	-17,9%	3 597 933	99 430	5423,8%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	69 660	-40,7%	117 469	-15,8%	139 443	0	0%
Total Assets	42 101 153	14,0%	36 940 971	-11,0%	41 527 177	712 965	5805,1%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	15 502 080	10,3%	14 059 130	-35,6%	21 824 043	198 009	7729,0%
Share capital	15 754 230	0%	15 754 230	0%	15 754 230	61 890,50	25355,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	3 267 692	-29,0%	4 605 418	327,7%	1 076 708	0	0%
Liabilities	23 306 528	27,6%	18 267 409	-1,8%	18 608 951	369 104,50	6214,3%
- Financial liabilities	10 975 638	19,9%	9 153 679	-4,4%	9 576 654	23 672	46265,5%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	9 057 813	47,6%	6 134 838	7,3%	5 717 703	47 600	18929,0%
- Tax and social liabilities	2 420 395	-2,4%	2 480 603	1,2%	2 450 515	107 801	2145,2%
- Other debts and fixed assets liabilities	858 698	80,0%	477 166	-44,4%	858 390	9 077,50	9359,6%
Account regularization	18 838	-37,5%	30 136	30,1%	23 162	0	0%
Total liabilities	42 101 153	14,0%	36 940 970	-11,0%	41 527 177	712 965	5805,1%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	47 889 013	15,9%	41 320 831	-4,7%	43 368 746	1 471 301,50	3154,9%
Net turnover	42 943 969	13,4%	37 863 713	-9,6%	41 905 953	1 469 196	2823,0%
- of which net export turnover	15 087 882	11,0%	13 594 549	-12,6%	15 547 419	0	0%
Operating charges	44 788 716	1,8%	43 978 500	-0,8%	44 340 183	1 420 221,50	3053,6%
Operating profit/loss	3 100 297	216,7%	-2 657 669	-173,6%	-971 437	6 629	46668,7%
Financial income	596 030	-40,5%	1 002 535	32,2%	758 077	1 087	54732,6%
Financial charges	846 713	-41,2%	1 439 730	62,8%	884 335	3 277	25738,1%
Financial profit/loss	-250 683	42,7%	-437 195	-246,3%	-126 258	-24,50	-1023095,9%
Pretax net operating income	2 849 614	192,1%	-3 094 864	-181,9%	-1 097 695	4 593,50	61935,8%
Extraordinary income	3 441 803	1,7%	3 384 505	71,9%	1 968 424	1 894	181621,4%
Extraordinary charges	5 366 508	-34,0%	8 126 063	409,7%	1 594 167	1 439,50	372703,6%
Extraordinary profit/loss	-1 924 705	130,1%	-4 741 558	-1366,9%	374 257	0	0%
Net result	1 424 908	118,2%	-7 836 423	-983,2%	-723 438	10 756	13147,6%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2008
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	42 101 153	14,0%	36 940 971	-11,0%	41 527 177
	Gross	CO	58 862 850	10,3%	53 347 153	-2,2%	54 540 116
	Amortisation	1A	16 761 697	2,2%	16 406 182	26,1%	13 012 938

Non declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	17 199 090	10,7%	15 536 858	-4,7%	16 303 398
	Gross	BJ	30 416 545	12,5%	27 040 044	5,1%	25 725 239
	Amortisation	BK	13 217 455	14,9%	11 503 186	22,1%	9 421 843

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	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	142 466	145,9%	57 939	224,5%	17 854
	Gross	AF	980 985	17,6%	834 381	9,5%	761 815
	Amortisation	AG	838 519	8,0%	776 442	4,4%	743 961
	Goodwill	Net	9 332 212	32,2%	7 056 964	16,6%	6 052 596
	Gross	AH	9 332 212	32,2%	7 056 964	15,4%	6 116 964
	Amortisation	AI	1 484 632	119,3%	676 841	951,5%	64 368
	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	9 474 678	33,2%	7 114 903	17,2%	6 070 450

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Lands	Net	8 314	-27,7%	11 500	-24,4%	15 207
	Gross	AN	49 613	0%	49 613	0%	49 613
	Amortisation	AO	41 299	8,4%	38 113	10,8%	34 406
	Buildings	Net	434 144	-11,5%	490 474	-14,3%	572 138
	Gross	AP	1 531 041	0,4%	1 524 706	4,7%	1 455 897
	Amortisation	AQ	1 096 897	6,1%	1 034 232	17,0%	883 759
	Plant	Net	2 656 161	-9,0%	2 920 082	-7,1%	3 144 711
	Gross	AR	7 106 389	1,7%	6 984 800	9,2%	6 396 010
	Amortisation	AS	4 450 228	9,5%	4 064 718	25,0%	3 251 299
	Other tangible fixed assets	Net	934 090	-15,4%	1 103 648	-24,3%	1 457 787
	Gross	AT	3 573 699	1,3%	3 526 980	1,0%	3 493 537
	Amortisation	AU	2 639 609	8,9%	2 423 332	19,0%	2 035 750
	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	949 936	127,1%	418 273	-8,3%	456 069
	Gross	AX	949 936	127,1%	418 273	-8,3%	456 069
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	4 982 645		4 943 977		5 645 912

Financial assets

			31/12/2010		31/12/2009		31/12/2008
	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	3 487 620	0,6%	3 465 371	-11,8%	3 929 962
	Gross	CU	6 153 891	3,3%	5 954 879	-6,0%	6 338 260
	Amortisation	CV	2 666 271	7,1%	2 489 508	3,4%	2 408 298
	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	738 779	7,2%	689 448	4,9%	657 074
	Gross	BH	738 779	7,2%	689 448	4,9%	657 074
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		4 226 399		4 154 819		4 587 036

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	24 832 405	16,7%	21 286 644	-15,1%	25 084 338
	Gross	CJ	28 376 647	8,4%	26 189 640	-8,7%	28 675 434
	Amortisation	CK	3 544 242	-27,7%	4 902 996	36,5%	3 591 096

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	2 218 933	11,2%	1 995 891	-0,4%	2 003 598
	Gross	BL	2 985 774	5,3%	2 835 116	16,7%	2 428 975
	Amortisation	BM	766 841	-8,6%	839 225	97,3%	425 377
	Work in progress (goods)	Net	917 497	-29,8%	1 307 382	13,7%	1 150 216
	Gross	BN	917 497	-29,8%	1 307 382	13,7%	1 150 216
	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	3 313 629	-16,3%	3 957 983	-31,7%	5 798 637
	Gross	BR	4 178 092	-32,9%	6 230 132	-12,8%	7 142 119
	Amortisation	BS	864 463	-62,0%	2 272 149	69,1%	1 343 482
	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	6 450 059	-11,2%	7 261 256	-18,9%	8 952 451

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	Advance payments to suppliers	Net	135 290	-25,3%	181 059	56,6%	115 650
	Gross	BV	135 290	-25,3%	181 059	56,6%	115 650
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	10 222 006	8,0%	9 465 160	-12,6%	10 829 265
	Gross	BX	12 134 944	7,8%	11 256 782	-11,0%	12 651 502
	Amortisation	BY	1 912 938	6,8%	1 791 622	-1,7%	1 822 237
	Other debtors	Net	2 113 587	76,5%	1 197 232	3,8%	1 153 195
	Gross	BZ	2 113 587	76,5%	1 197 232	3,8%	1 153 195
	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	12 335 593	15,7%	10 662 392	-11,0%	11 982 460

Divers

			31/12/2010		31/12/2009		31/12/2008
	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	5 492 361	85,9%	2 954 595	-17,9%	3 597 933
	Gross	CF	5 492 361	85,9%	2 954 595	-17,9%	3 597 933
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	5 492 361	85,9%	2 954 595	-17,9%	3 597 933

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2008
	Prepaid expenses	Net	419 102	84,3%	227 342	-47,8%	435 844
	Gross	CH	419 102	84,3%	227 342	-47,8%	435 844
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	69 660	-40,7%	117 469	-15,8%	139 443
Gross		69 660	-40,7%	117 469	-	-

References

		31/12/2010		31/12/2009		31/12/2008
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)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	42 101 153	14,0%	36 940 970	-11,0%	41 527 177

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	15 502 080	10,3%	14 059 130	-35,6%	21 824 043
	Equity and shareholders' equity	DA	15 754 230	0%	15 754 230	0%	15 754 230
	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	1 575 423	0%	1 575 423	0%	1 575 423
	Statutory or contractual reserve	DE	5 116 361	0%	5 116 361	0%	5 116 361
	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	-8 502 636	-1176,3%	-666 213	-1264,2%	57 227
	Profit or loss for the period	DI	1 424 908	118,2%	-7 836 423	-983,2%	-723 440
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	133 794	15,6%	115 752	161,6%	44 242

Other capital resources (II)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	3 267 692	-29,0%	4 605 418	327,7%	1 076 708
	Risk provisions	DP	2 866 569	166,2%	1 076 936	2,6%	1 050 130
	Reserves for charges	DQ	401 123	-88,6%	3 528 482	13176,0%	26 578

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	23 306 528	27,6%	18 267 409	-1,8%	18 608 951
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	303 158	-26,8%	414 116	-92,2%	5 307 009
	Sundry loans and financial liabilities	DV	10 672 480	22,1%	8 739 563	104,7%	4 269 645
	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	9 057 813	47,6%	6 134 838	7,3%	5 717 703
	Tax and social security liabilities	DY	2 420 395	-2,4%	2 480 603	1,2%	2 450 515
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	833 844	78,1%	468 153	-44,3%	840 917

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	24 854	175,8%	9 013	-48,4%	17 473

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	18 838	-37,5%	30 136	30,1%	23 162

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
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)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	3 100 297	216,7%	-2 657 669	-173,6%	-971 437

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-250 683	42,7%	-437 195	-246,3%	-126 258

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	2 849 614	192,1%	-3 094 864	-181,9%	-1 097 695

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-1 924 705	59,4%	-4 741 558	-1366,9%	374 257

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	1 424 908	118,2%	-7 836 423	-983,2%	-723 438

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	51 926 846	13,6%	45 707 871	-0,8%	46 095 247

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	50 501 937	-5,7%	53 544 293	14,4%	46 818 685

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	47 889 013	15,9%	41 320 831	-4,7%	43 368 746

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	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	42 022 585	13,9%	36 883 889	-9,6%	40 782 802
	France	FD	27 241 004	15,2%	23 644 015	-7,8%	25 641 333
	Export	FE	14 781 581	11,6%	13 239 874	-12,6%	15 141 469
	Sale of services	FI	921 384	-6,0%	979 824	-12,8%	1 123 151
	France	FG	615 083	-1,6%	625 149	-12,8%	717 201
	Export	FH	306 301	-13,6%	354 675	-12,6%	405 950
	Net turnover	FL	42 943 969	13,4%	37 863 713	-9,6%	41 905 953
	France	FJ	27 856 087	14,8%	24 269 164	-7,9%	26 358 534
	Export	FK	15 087 882	11,0%	13 594 549	-12,6%	15 547 419
	Stocked production	FM	-2 441 925	-223,5%	-754 821	27,2%	-1 037 387
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	120 175	65,6%	72 556	27,4%	56 934
	Release of reserves and provisions	FP	7 292 318	81,8%	4 010 232	58,5%	2 530 455
	Other income	FQ	-25 524	-119,8%	129 151	248,1%	-87 209

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	44 788 716	1,8%	43 978 500	-0,8%	44 340 183

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	2 173 055	31,0%	1 658 993	132,7%	712 847
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	7 272 162	-1,3%	7 367 144	-25,8%	9 932 466
Change in stocks of raw materials	FV	-150 658	62,9%	-406 141	-74,1%	-233 227
Other external purchases and charges	FW	15 115 665	11,2%	13 587 887	-12,1%	15 466 000
Tax, duty and similar payments	FX	1 540 918	25,9%	1 223 628	13,0%	1 082 550
Payroll	FY	10 658 723	1,1%	10 541 575	3,3%	10 206 894
Social security costs	FZ	3 377 696	-8,3%	3 682 110	0,1%	3 678 414

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	1 423 692	-1,6%	1 446 894	24,8%	1 159 147
Amortisation of fixed assets	GB	1 126 662	78,1%	632 473	3062,4%	20 000
Depreciation/amortisation of current assets	GC	1 818 751	-43,9%	3 244 720	61,4%	2 009 773
Provisions for risks and charges	GD	297 340	-59,1%	727 576	694,5%	91 578

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	134 710	-50,4%	271 641	27,1%	213 741

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2008
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)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	596 030	-40,5%	1 002 535	32,2%	758 077
	Share financial income	GJ	153 659	-69,1%	497 045	79,6%	276 761
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	148 886	-20,7%	187 720	-25,5%	252 059
	Released provisions and transferred charges	GM	189 572	-5,3%	200 140	25,7%	159 230
	Exchange gains	GN	92 119	4,1%	88 489	157,8%	34 326
	Net income from disposal of investment securities	GO	11 794	-59,5%	29 141	-18,4%	35 701

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	846 713	-41,2%	1 439 730	62,8%	884 335
	Financial reserves and provisions	GQ	318 525	22,8%	259 376	-22,3%	333 961
	Interest and similar charges	GR	383 635	-64,5%	1 080 622	166,9%	404 885
	Exchange losses	GS	144 553	44,9%	99 732	-31,5%	145 489
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	3 441 803	1,7%	3 384 505	71,9%	1 968 424
	Extraordinary operating income	HA	157 482	-10,0%	175 011	1130,9%	14 218
	Extraordinary income from capital transactions	HB	67 912	-90,2%	692 730	1079,2%	58 748
	Released provisions and transferred charges	HC	3 216 409	27,8%	2 516 764	32,8%	1 895 458

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	5 366 508	-34,0%	8 126 063	409,7%	1 594 167
	Extraordinary operating charges	HE	3 256 449	97,7%	1 647 249	36,6%	1 205 519
	Extraordinary charges from capital transactions	HF	8 829	-99,0%	881 290	23171,5%	3 787
	Extraordinary reserves and provisions	HG	2 101 230	-62,5%	5 597 524	1354,4%	384 861

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	-500 000	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
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)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	21 274 757
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	5 025 245
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	885 460	-11,8%	1 004 148	74,7%	574 766
	Gross value at the end of period	OL	30 416 544	12,5%	27 040 044	5,1%	25 725 239

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	KD	7 891 345	14,7%	6 878 779	37,5%	5 001 388
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	2 421 852	91,8%	1 262 566	-32,7%	1 877 391
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	250 000	0%	0
	Gross value at the end of period	LW	10 313 197	30,7%	7 891 345	14,7%	6 878 779

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	12 504 372	5,5%	11 851 126	24,5%	9 517 276
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	1 588 744	87,1%	848 930	-70,8%	2 906 839
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	882 438	351,0%	195 684	-65,8%	572 991
	Gross value at the end of period	NH	13 210 678	5,6%	12 504 372	5,5%	11 851 124

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	6 644 327	-5,0%	6 995 334	3,5%	6 756 093
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	251 365	21,2%	207 457	-13,9%	241 015
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	3 023	-99,5%	558 464	31362,8%	1 775
	Gross value at the end of period	NK	6 892 669	3,7%	6 644 327	-5,0%	6 995 334

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

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	5 996 862
Increases		0P	0	0%	0	0%	1 265 292
Decreasess		0Q	0	0%	0	0%	268 609
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	6 993 545

Research and development charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	820 810	4,1%	788 330	9,9%	717 457
Increases		PF	62 077	79,0%	34 680	-51,1%	70 873
Decreasess		PG	0	0%	2 200	0%	0
	Decreasess by budget item transfer	PH	882 887	7,6%	820 810	4,1%	788 330

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	7 560 395	21,8%	6 205 215	17,5%	5 279 405
Increases		QV	1 428 174	1,5%	1 406 779	17,8%	1 194 419
Decreases		QW	760 536	1374,0%	51 598	-80,8%	268 609
	Decreasess by budget item transfer	QX	8 228 033	8,8%	7 560 396	21,8%	6 205 215

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

			31/12/2010		31/12/2009		31/12/2008
	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

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	12 746 148	78,5%	7 140 344	-14,8%	8 379 603
Increases		UB	5 727 329	-44,4%	10 297 329	276,6%	2 734 028
Decreases		UC	7 421 215	58,2%	4 691 525	18,1%	3 973 288
	Value at the end of period	UD	11 052 262	-13,3%	12 746 148	78,5%	7 140 344

Includes Total allocations

Operating	UE	0	0%	0	0%	0
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%	0	0%	0

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	3Z	115 752	161,6%	44 242	105,0%	21 583
Increases		TS	35 100	-56,9%	81 472	205,1%	26 702
Decreases		TT	17 058	71,2%	9 961	146,3%	4 044
	Value at the end of period	TU	133 794	15,6%	115 753	161,6%	44 242

Total risk and charge provisions (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	4 605 418	327,7%	1 076 709	-62,6%	2 877 272
Increases		TV	2 402 171	-61,2%	6 196 758	1182,9%	483 035
Decreases		TW	3 739 897	40,2%	2 668 048	16,8%	2 283 599
	Value at the end of period	TX	3 267 692	-29,0%	4 605 419	327,7%	1 076 708

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	8 024 977	33,3%	6 019 394	9,8%	5 480 748
Increases		TY	3 290 059	-18,1%	4 019 100	80,7%	2 224 291
Decreases		TZ	3 664 259	82,0%	2 013 516	19,5%	1 685 645
	Value at the end of period	UA	7 650 777	-4,7%	8 024 978	33,3%	6 019 394

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	15 541 702	14,7%	13 551 863	-9,7%	15 013 266
1 year at most	VU	12 777 119	16,2%	10 998 847	-11,6%	12 437 774
More than one year	VV	2 764 583	8,3%	2 553 016	-0,9%	2 575 492

State of loans

		31/12/2010		31/12/2009		31/12/2008
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	738 779	7,2%	689 448	4,9%	657 074
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	2 025 804	8,7%	1 863 568	-2,9%	1 918 418
Other claims customer	UX	10 109 140	7,6%	9 393 214	-12,5%	10 733 085
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	20 418	3,3%	19 758	-24,5%	26 165
Social Security and other social organizations	UZ	51 856	34,8%	38 468	-12,2%	43 824
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	836 452	-12,2%	953 201	22,0%	781 057
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	244 344	1524,1%	15 045	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	1 095 806	211,5%	351 819	-15,8%	417 799

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	419 102	84,3%	227 342	-47,8%	435 844

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	23 306 527	27,6%	18 267 408	-1,8%	18 608 951
1 year at most		VZ2	23 000 854	26,5%	18 187 209	33,1%	13 665 433
More than 1 year and 5 years at most		VZ3	305 673	281,1%	80 199	-98,4%	4 943 517
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	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	303 158	-26,8%	414 116	-92,2%	5 307 009
1 year at most		VH2	0	0%	414 116	-18,3%	507 009
More than 1 year and 5 years at most		VH3	303 158	0%	0	0%	4 800 000
	Loans and various financial liabilities (gross)	8A1	60 802	-54,7%	134 350	-6,4%	143 517
1 year at most		8A2	58 287	7,6%	54 151	0%	0
More than 1 year and 5 years at most		8A3	2 515	-96,9%	80 199	-44,1%	143 517
	Suppliers and associated accounts (gross)	8B1	9 057 813	47,6%	6 134 838	7,3%	5 717 703
1 year at most		8B2	9 057 813	47,6%	6 134 838	7,3%	5 717 703
More than 1 year and 5 years at most		8B3	9 057 813	47,6%	6 134 838	0%	0
	Personnel and associated accounts (gross)	8C1	982 743	28,1%	767 443	-30,3%	1 100 704
1 year at most		8C2	982 743	28,1%	767 443	-30,3%	1 100 704
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	957 033	-28,0%	1 330 093	5,3%	1 263 198
1 year at most		8D2	957 033	-28,0%	1 330 093	5,3%	1 263 198
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	85 267	20,5%	70 764	66,8%	42 414
1 year at most		VW2	85 267	20,5%	70 764	66,8%	42 414
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	395 352	26,6%	312 303	606,6%	44 199
1 year at most		VQ2	395 352	26,6%	312 303	606,6%	44 198
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	10 611 678	23,3%	8 605 213	108,6%	4 126 128
1 year at most		VI2	10 611 678	23,3%	8 605 213	108,6%	4 126 128
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	833 844	78,1%	468 153	-44,3%	840 917
1 year at most		8K2	833 844	78,1%	468 153	-44,3%	840 917
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	18 838	-37,5%	30 136	30,1%	23 162
1 year at most		8L2	18 838	-37,5%	30 136	30,1%	23 162
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	0	0%	0	0%	396

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		1,41	-2,8%	1,45	-11,0%	1,63	2,17	-35,0%
Global Debt		195 days	12,1%	174 days	8,8%	160 days	116 days	68,1%
Working Capital Fund overall net		105 days	-10,3%	117 days	-15,8%	139 days	104 days	1,0%
Financial independence		5113,53%	50,6%	3394,97%	725,6%	411,23%	1146,54%	346,0%
More ratios
Solvability		36,82%	-3,3%	38,06%	-27,6%	52,55%	46,59%	-21,0%
Capacity debt futures		%	-	3394,97%	-21,1%	4304,47%	2721,30%	-
Coverage of current assets by net working capital overall		44,88%	-5,1%	47,30%	-17,4%	57,27%	49,39%	-9,1%
General Liquidity		0,56	-6,7%	0,60	-34,1%	0,91	0,82	-31,7%
Restricted Liquidity		0,79	2,6%	0,77	-34,2%	1,17	1,36	-41,9%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		55 days	-36,0%	86 days	-16,5%	103 days	52 days	5,8%
Treasury		46 days	64,3%	28 days	-9,7%	31 days	33 days	39,4%
Inventory turnover of goods		0 days	0%	0 days	0%	0 days	1 days	0%
Average length of credit granted to customers		102 days	-4,7%	107 days	-1,8%	109 days	52 days	96,2%
Average length of credit obtained suppliers		134 days	35,4%	99 days	23,8%	80 days	48 days	179,2%
More ratios
Inventory turnover of raw materials in industrial enterprises		148 days	6,5%	139 days	58,0%	88 days	110 days	34,5%
Inventory turnover of intermediate and finished products in the industrial enterprise		325 days	7,3%	303 days	-14,4%	354 days	1121 days	-71,0%
Rotation tangible assets		325,07%	7,4%	302,80%	-14,4%	353,60%	909,19%	-64,2%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		-5,06%	-15,5%	-4,38%	-157,6%	-1,70	0%	0%
Profitability of the business		1,48	218,4%	-1,25	-757,9%	0,19	2,28%	-35,1%
Net profit		3,32%	116,0%	-20,70%	-1096,5%	-1,73%	1,04%	219,2%
More ratios
Growth rate of turnover (excluding VAT)		13,42%	239,1%	-9,65%	-4286,4%	-0,22%	0,52%	2480,8%
Rates integration		37,47%	-4,8%	39,35%	10,0%	35,77%	29,55%	26,8%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		87,23%	-8,6%	95,45%	3,0%	92,63%	83,54%	4,4%
Weight interests		1,97	-48,2%	3,80%	80,1%	2,11%	0,33%	497,0%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		14,75%	1840,8%	0,76%	-71,5%	2,67%	1,89%	680,4%
Rates of economic profitability		2%	200%	-2%	0%	0%	4,70%	-57,4%
Financial profitability		15502080%	10,3%	14059130%	-35,6%	21824043%	183911,50%	8329,1%
Return on investment		8,58%	131,1%	-27,56%	-5503,9%	0,51%	5,65%	51,9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	42 943 969	13,4%	37 863 713	-9,6%	41 905 953	1 469 196 €	2823,0%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	2 173 055	31,0%	1 658 993	132,7%	712 847
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	-2 173 055 €	-31,0%	-1 658 993 €	-132,7%	-712 847 €	0 €	0%
	-5,06 % CA	-15,5%	-4,38 % CA	-157,6%	-1,70 % CA	0 % CA	0%

Sale of goods produced	42 943 969	13,4%	37 863 713	-9,6%	41 905 953
+/- Stocked production	-2 441 925	-223,5%	-754 821	27,2%	-1 037 387
+ Self-constructed assets	0	0%	0	0%	0
Period production	40 502 044 €	9,1%	37 108 892 €	-9,2%	40 868 566 €	883 813 €	4482,6%
	94,31 % CA	-3,8%	98,01 % CA	0,5%	97,52 % CA	99,64 % CA	-5,3%

Trading margin	-2 173 055	-31,0%	-1 658 993	-132,7%	-712 847	0	0%
+ Period Production	40 502 044	9,1%	37 108 892	-9,2%	40 868 566	883 813	4482,6%
- Purchase of raw materials	7 272 162	-1,3%	7 367 144	-25,8%	9 932 466
+/- Change in stocks of raw materiels	-150 658	62,9%	-406 141	-74,1%	-233 227
- Other external purchases and charges	15 115 665	11,2%	13 587 887	-12,1%	15 466 000
Added value	16 091 820 €	8,0%	14 901 009 €	-0,6%	14 990 480 €	491 014 €	3177,3%
	37,47 % CA	-4,8%	39,35 % CA	10,0%	35,77 % CA	29,55 % CA	26,8%

Added value	16 091 820 €	8,0%	14 901 009 €	-0,6%	14 990 480 €	491 014 €	3177,3%
+ Operating grants	120 175	65,6%	72 556	27,4%	56 934
- Tax, duty and similar payments	1 540 918	25,9%	1 223 628	13,0%	1 082 550
- Personal charges	14 036 419	-1,3%	14 223 685	2,4%	13 885 308
Gross operating surplus	634 658 €	234,0%	-473 748 €	-695,5%	79 556 €	16 180 €	3822,5%
	1,48 % CA	218,4%	-1,25 % CA	-757,9%	0,19 % CA	2,28 % CA	-35,1%

Gross operating surplus	634 658 €	234,0%	-473 748 €	-695,5%	79 556 €	16 180 €	3822,5%
+ Release of reserves and provisions	7 292 318	81,8%	4 010 232	58,5%	2 530 455
+ Other operating income	-25 524	-119,8%	129 151	248,1%	-87 209
- Depreciation/Amortisation	4 666 445	-22,9%	6 051 663	84,5%	3 280 498
- Other charges	134 710	-50,4%	271 641	27,1%	213 741
Operating result	3 100 297 €	216,7%	-2 657 669 €	-173,6%	-971 437 €	6 629 €	46668,7%
	7,22 % CA	202,8%	-7,02 % CA	-202,6%	-2,32 % CA	1,29 % CA	459,7%

Operating result	3 100 297 €	216,7%	-2 657 669 €	-173,6%	-971 437 €	6 629 €	46668,7%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	596 030	-40,5%	1 002 535	32,2%	758 077
- Financial charges	846 713	-41,2%	1 439 730	62,8%	884 335
Pre-tax result	2 849 614 €	192,1%	-3 094 864 €	-181,9%	-1 097 695 €	4 592,50 €	61949,3%
	6,64 % CA	181,3%	-8,17 % CA	-211,8%	-2,62 % CA	1,16 % CA	472,4%

Extraordinary income	3 441 803	1,7%	3 384 505	71,9%	1 968 424	1 894	181621,4%
- Extraordinary charges	5 366 508	-34,0%	8 126 063	409,7%	1 594 167
Extraordinary result	-1 924 705 €	59,4%	-4 741 558 €	-1366,9%	374 257 €	0 €	0%
	-4,48 % CA	64,2%	-12,52 % CA	-1506,7%	1 % CA	0 % CA	0%

Pre-tax result	2 849 614 €	192,1%	-3 094 864 €	-181,9%	-1 097 695 €	4 592,50 €	61949,3%
Extraordinary result	-1 924 705 €	59,4%	-4 741 558 €	-1366,9%	374 257 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-500 000	0%	0	0%	0
Net result	1 424 909 €	118,2%	-7 836 422 €	-983,2%	-723 438 €	10 756,50 €	13147,0%
	3,32 % CA	116,0%	-20,70 % CA	-1096,5%	-1,73 % CA	1,03 % CA	222,3%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Establishment details

Activity (APE)	Fabrication de vêtements de dessous (1414Z)	Business Pages FT®	LINGERIE FEMININE CORSETERIE MAILLOT BAIN DETAIL
Postal Address	AUBADE PARIS 10 A 12 10 RUE DU COLONEL DRIANT 75001 PARIS 1	Trading Address	10 RUE DU COLONEL DRIANT 75001 PARIS 1
Telephone	01 70 99 20 00
Fax

Type	Head office	Status	Inactive (Insee)
Formation Date	04/2000	Reason for formation	Recovery
Closure Date		Reason for closure	Setting agreement with a liquidator for whole business management
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Paris (75)	Region	Ile-de-France
District	1	Area	99
City	PARIS 1	Size of urban area	Paris conglomeration

Other establishments

Branches	38 branch entities in this company
Head office	> AUBADE PARIS <<<  - Fabrication de vêtements de dessous (1414Z)  in PARIS 1  (75001)
Secondary establishments	>  AUBADE PARIS  - Fabrication de vêtements de dessous (1414Z)  in STRASBOURG  (67000) >  AUBADE PARIS  - Fabrication de vêtements de dessous (1414Z)  in SAINT SAVIN  (86310) >  AUBADE PARIS  - Fabrication de vêtements de dessous (1414Z)  in PARIS 6  (75006) >  AUBADE PARIS  - Fabrication de vêtements de dessous (1414Z)  in PARIS 1  (75001) > ...

Regionality	Legal unit with multiple establishments in many areas having at least 50% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce

Workforces

Workforce at address

100 to 199 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
10/06/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8669 - 775695901 RCS. AUBADE-PARIS. Forme : Société par actions simplifiée. Adresse : 10-12 rue du Colonel Driant 75001 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
31/05/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 936 - 775 695 901 RCS Paris. AUBADE-PARIS. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire partant : COMPAGNIE EUROPEENNE DE REVISION ET D'AUDIT, Commissaire aux comptes suppléant partant : FIDECO-OUEST. Capital : 15754230 EUR. Activité : Confection, sous vêtement féminin et layettes, exploitation directe ou indirecte de toutes industries et la vente de tous articles se rapportant aux industries textiles et aux tissus élastiques. Adresse du siège social : 10-12 rue du Colonel Driant, 75001 Paris. Commentaires : modification survenue sur l'administration.
12/07/2010	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 9946 - 775695901 RCS. AUBADE-PARIS. Forme : Société par actions simplifiée. Adresse : 10-12 R DU COLONEL DRIANT 75001 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
05/06/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 9447 - 775695901 RCS. AUBADE-PARIS. Forme : Société par actions simplifiée. Adresse : 10-12 rue du Colonel Driant 75001 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
24/07/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2574 - 775 695 901 RCS paris. AUBADE-PARIS. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire partant : KPMG S.A., nomination du Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES, Commissaire aux comptes suppléant partant : SCP JEAN-CLAUDE ANDRE ET AUTRES, nomination du Commissaire aux comptes suppléant : AUDITEX. Capital : 15754230 EUR. Activité : Confection, sous vêtement féminin et layettes, exploitation directe ou indirecte de toutes industries et la vente de tous articles se rapportant aux industries textiles et aux tissus élastiques. Adresse du siège social : 10-12 rue du Colonel Driant, 75001 Paris. Commentaires : modification survenue sur l'administration.
12/07/2008	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7457 - 775695901 RCS. AUBADE-PARIS. Forme : Société par actions simplifiée. Adresse : 10-12 rue du Colonel Driant 75001 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
04/03/2008	Bodacc A	Vente et cession : Acheteur
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 2384 - 775 695 901 RCS Nanterre. AUBADE PARIS. Forme : Société par actions simplifiée. Adresse : 10-12 rue du Colonel Driant, 75001 Paris. Origine du fonds : Achat d'un fonds de commerce. Etablissement : Etablissemennt complémentaire. Activité : vente de lingerie et accessoires de mode. Adresse : 20 rue de Chartres, 92200 Neuilly-sur-Seine. Précédent propriétaire : SARL JOMILA. 423 558 550 RCS Nanterre. Date de commencement de l’activité : 20/02/2008. Publication légale : Petites affiches du 09/01/2008. Oppositions : Au Mandataire pour la validité et pour la correspondance Maître HAINAULT 11 TER avenue Joffre 92250 LA GARENNE COLOMBES. Descriptif : Etablissement secondaire/complémentaire acquis par achat au prix stipulé de 250000 Euros. Commentaires : Achat d'un établissement secondaire ou complémentaire par une personne morale.
11/12/2007	Bodacc A	Vente et cession
1307 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Capital : 15 754 230 euros. Adresse du siège social : 10-12 rue du Colonel-Driant, 75001 Paris. Etablissement complémentaire : Activité : vente d'articles textiles, d'habillement, de chaussures, d'articles de Paris et de bijoux fantaisie. Adresse : 33 rue des Francs-Bourgeois, 75004 Paris. Etablissement complémentaire acquis par achat au prix stipulé de 620 000 euros. Date de début d'activité : 25 septembre 2007. Précédent propriétaire : VITTORIANI (Catherine, Dominique). RCS Paris 328 435 896. Publication légale : Journal spécial des sociétés françaises par actions du 9 octobre 2007. Oppositions : Me Uguen (Yann), 4 rue de la Pompe, 75116 Paris.
04/12/2007	Bodacc C	Avis de dépôt des comptes
10904 - 775 695 901. RCS PARIS AUBADE-PARIS. Forme: Société par actions simplifiée. Adresse du siège social: 10-12 rue du Colonel Driant 75001 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
11/05/2007	Bodacc A	Vente et cession
0778 - RCS Grenoble B 775 695 901. RC 06-B 2037. AUBADE PARIS. Forme : S.A.S. Adresse du siège social : 10/12, rue du Colonel Driant, 75001 Paris. Etablissement secondaire - Activité : confection, vente de lingerie. Adresse : 20, Grande rue, 38000 Grenoble. Etablissement secondaire acquis par achat au prix stipulé de 215 000 euros . Date d'effet : 14 novembre 2006. Précédent propriétaire : SARL AU CAMELIA. RCS 340 754 092. Publication légale : Les Affiches de Grenoble et du Dauphiné du 1er décembre 2006 . Oppositions : Me NALLET Gabriel notaire 9 Rue Lesdiguières 38000 Grenoble.
09/11/2006	Bodacc B	Modifications et mutations diverses
1578 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Capital : 15 754 230 euros. Adresse du siège social : 10-12 rue du Colonel-Driant,, 75001 Commentaires : modification survenue sur l'administration. Administration : directeur général partant : FLAURAUD (Claude, Jacques).
13/09/2006	Bodacc C	Avis de dépôt des comptes
5921 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE PARIS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 10-12, R du Colonel Driant,Paris, 75001 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
05/05/2006	Bodacc B	Modifications et mutations diverses
1754 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Capital : 15 754 230 euros. Adresse du siège social : 10-12 rue du Colonel-Driant,, 75001 Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : CAURIER (Adrien). Commissaire aux comptes suppléant partant : MERCADAL (Pierre). Nomination d'un commissaire aux comptes titulaire : K.P.M.G. S.A. Nomination d'un commissaire aux comptes suppléant : S.C.P. JEAN-CLAUDE ANDRE ET AUTRES.
16/02/2006	Bodacc A	Vente et cession
1232 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Capital : 15 754 230 euros. Adresse du siège social : 10-12 rue du Colonel-Driant, 75001 Paris. Etablissement complémentaire : Activité : bonneterie, lingerie, corsets et soutiens-gorge. Adresse : 22 rue du Vieux-Colombier, 75006 Paris. Etablissement complémentaire acquis par achat au prix stipulé de 220 000 euros. Date de début d'activité : 15 décembre 2005. Précédent propriétaire : SERAPHINA. RCS 308 100 858. Publication légale : La Vie judiciaire du 26 décembre 2005. Oppositions : Fiduciaire de Luynes, 36 bis boulevard Haussmann, 75009 Paris.
12/10/2005	Bodacc B	Modifications et mutations diverses
1231 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : nomination de directeurs généraux : FLAURAUD (Claude, Jacques) LINDEMANN (Andreas).
03/10/2005	Bodacc C	Avis de dépôt des comptes
5782 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE PARIS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 10, 12, R du Colonel Driant,Paris, 75001 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
03/10/2005	Bodacc C	Avis de dépôt des comptes
5783 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE PARIS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 10, 12, R du Colonel Driant,Paris, 75001 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
16/08/2005	Bodacc B	Modifications et mutations diverses
1347 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : PASQUIER (Claude). Nomination du président : SULZBERGER (Félix).
31/07/2005	Bodacc B	Modifications et mutations diverses
2510 - RCS Paris B 775 695 901. RC 56-B 10396. AUBADE-PARIS. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président du directoire partant : PASQUIER (Claude). Président du conseil de surveillance partant : PASQUIER (Thierry). Directeurs généraux et membres du directoire partants : PASQUIER (Anne) PASQUIER (Ann-Charlotte, Emilie) (Nom d'usage : ANTOINE) PASQUIER (Stéphane) PASQUIER (Eric). Membres du conseil de surveillance partants : SOBOLAK (Geneviève) PASQUIER (Sabine).
14/09/2004	Bodacc B	Modifications et mutations diverses
RCS Paris B 775695901 RC 56-B 10396 AUBADE-PARIS. Forme : S.A.S. Commentaires : modification survenue sur l' administration. Administration : nomination du président du directoire : PASQUIER (Claude). Modification de directeurs généraux et membres du directoire : PASQUIER (Anne) PASQUIER (Ann-Charlotte, Emilie) ( Nom d'usage : ANTOINE). Nomination d'un directeur général et membre du directoire : PASQUIER (Stéphane). Modification du président du conseil de surveillance : PASQUIER (Thierry). Modification d'un membre du conseil de surveillance : SOBOLAK (Geneviève).
23/07/2004	Bodacc B	Modifications et mutations diverses
RCS Paris B 775695901 RC 56-B 10396 BERNARD ET COMPAGNIE LES SUCCESSEURS DE L. PREGERMAIN. Forme : S.A.S. Commentaires : modification survenue sur l' administration. Administration : nomination du président : PASQUIER ( Claude). Modification de directeurs généraux : PASQUIER (Anne) PASQUIER ( Ann-Charlotte, Emilie) ( Nom d'usage : ANTOINE).
19/10/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 775695901 RC 56-B 10396 BERNARD ET COMPAGNIE LES SUCCESSEURS DE L. PREGERMAIN. Forme : S.A.S. Commentaires : modification survenue sur l' administration. Administration : modification du président : PASQUIER ( Anne). Administrateur partant : PASQUIER (Claude). Nomination d'un administrateur : PASQUIER (Ann- Charlotte, Emilie) ( Nom d'usage : ANTOINE).
31/10/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 775695901 RC 56-B 10396 BERNARD ET COMPAGNIE LES SUCCESSEURS DE PREGERMAIN. Forme : S.A.S. Capital : 3 132 000 euros. Activité : confection, sous- vetements féminins et layette. Adresse du siège social : 10-12 rue du Colonel- Driant, 75001 Paris. Administration : nomination du président : PASQUIER ( Anne). Nomination d'administrateurs : PASQUIER (Claude) SOBOLAK (Geneviève) PASQUIER (Thierry). Nomination d'un commissaire aux comptes titulaire : COMPAGNIE EUROPEENNE DE REVISION ET D' AUDIT. Nomination d'un commissaire aux comptes suppléant : CAURIER (Adrien). Commentaires : cette société transfère son siège de l'Usine de la Dabonnerie, 86310 Saint-Savin. Ancien RC : 77-B 50. Modification survenue sur la dénomination, la forme juridique, le capital (augmentation), l'adresse du siège social, l'activité et l' administration Date de début d'activité: 31 mars 1919. Date d'effet : 18 octobre 2002.
09/08/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Poitiers B 775695901 RC 77-B 50 BERNARD ET COMPAGNIE LES SUCCESSEURS DE PREGERMAIN. Forme : S.A. à conseil d' administration. Capital : 360 000 F. Adresse : usine de la Dabonnerie, 86310 Saint-Savin Nouvelle situation du siège social. Capital : 3 132 000 euros Etablissement principal: Activité : confection de sous-vetements féminins et de layette. Adresse : usine de la Dabonnerie, 86310 Saint-Savin. Commentaires : capital porté à 20 184 573,21 F puis converti en euros. Date d'effet : 28 juin 2001.
18/07/1999	Bodacc B	Modifications et mutations diverses
RCS Poitiers B 775695901 RC 77-B 50 BERNARD ET COMPAGNIE LES SUCCESSEURS DE PREGERMAIN. Forme : S.A. à conseil d' administration. Capital : 360 000 F. Adresse du siège social : Usine de la Dabonnerie, 86310 Saint-Savin. Administration : président du conseil d' administration : Mme PASQUIER (Anne, Christine). Administrateurs : PASQUIER ( Claude, Philippe) Mme SOBOLAK, née PASQUIER (Geneviève, Marie, Thérèse) PASQUIER (Thierry, Michel, André). Commissaire aux comptes titulaire : C.E. R.A.-COMPAGNIE EUROPEENNE DE REVISION ET D'AUDIT. Commissaire aux comptes suppléant : CAURIER (Adrien, Charles). Ancien commissaire aux comptes titulaire : DELORD (Yves) Etablissement principal: Activité : confection de sous- vetements féminins et de layettes. Adresse : Usine de la Dabonnerie, 86310 Saint-Savin. Date d'effet : 24 juin 1999.
31/07/1998	Bodacc B	Modifications et mutations diverses
RCS o. RCS Poitiers B 775 695 901 RC RC 77-B 50 BERNARD ET COMPAGNIE - LES SUCCESSEURS DE PREGERMAIN. Forme : S.A. à conseil d'administration. Capital : 360 000 F. Adresse du siège social : usine de la Dabonnerie 86310 Saint-Savin ETABLISSEMENT SECONDAIRE. Adresse : 8, rue Etienne-Marcel 75002 Paris. Commentaires : ancienne adresse du siège social : 8, rue Etienne-Marcel, 75002 Paris. L'établissement principal devient établissement secondaire. L' établissement secondaire devient établissement principal Etablissement principal: Activité : confection, sous- vetements féminins et layettes. Adresse : usine de la Dabonnerie 86310 Saint- Savin Date de début d'activité: 31 mars 1919. Date d'effet : 15 juin 1998.
12/04/1998	Bodacc B	Modifications et mutations diverses
RCS Paris B 775 695 901 RC 56-B 10396 BERNARD ET COMPAGNIE-LES SUCCESSEURS DE PREGERMAIN. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : modification du président du conseil d' administration : PASQUIER (Anne, Christine). Modification d'un administrateur : PASQUIER (Claude, Philippe).
09/09/1997	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 775 695 901 RC RC 56- B 10396 BERNARD ET COMPAGNIE LES SUCCESSEURS DE PREGERMAIN. Forme : S.A. Administration : nomination en qualité d' administrateur : PASQUIER (Thierry, Michel, André). Commentaires : modification survenue sur l' administration.

COMPANY EVENTS HISTORY

Date	Description
17/06/2011	Formation of Establishment
10/06/2011	Bodacc C : Deposit accounts notice
31/05/2011	Bodacc B: Various editing or changing
16/05/2011	Amendment
08/05/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
17/09/2010	Formation of Establishment
12/07/2010	Bodacc C : Deposit accounts notice
15/06/2010	Minutes of general meeting of shareholders
15/06/2010	Updated articles of association
31/12/2009	New accounts available
18/12/2009	Formation of Establishment
05/06/2009	Bodacc C : Deposit accounts notice
20/04/2009	Formation of Establishment
31/12/2008	New accounts available
24/07/2008	New Bodacc B ads detected
24/07/2008	Bodacc B: Various editing or changing
12/07/2008	Bodacc C : Deposit accounts notice
29/05/2008	New auditor
29/05/2008	Changement de Commissaire aux Comptes
29/05/2008	Minutes of general meeting of shareholders
29/05/2008	PV d'Assemblée
29/05/2008	Private document
29/05/2008	Appointment/resignation of company officers
30/04/2008	Collection of preferential rights activated for this company
21/03/2008	Formation of Establishment
07/03/2008	Formation of Establishment
04/03/2008	Bodacc A : Sale and transfer
04/03/2008	New Bodacc A ads detected
31/12/2007	New accounts available
31/10/2007	Formation of Establishment
20/09/2007	Formation of Establishment
31/12/2006	New accounts available
04/12/2006	Activation of Establishment
04/12/2006	Update of Company Activity
04/12/2006	Modification of Establishment Activity
04/12/2006	Modification of Company Activity
17/10/2006	Modification du Conseil d'Administration
17/10/2006	Minutes of general meeting of shareholders
17/10/2006	PV d'Assemblée
17/10/2006	Appointment/resignation of company officers
17/10/2006	Private document
31/12/2005	New accounts available
20/12/2005	Acte sous seing privé
20/12/2005	Private document
20/12/2005	Appointment/resignation of company officers
20/12/2005	Nomination/démission des organes de gestion
20/12/2005	Minutes of general meeting of shareholders
20/12/2005	PV d'Assemblée
20/12/2005	Changement de Commissaire aux Comptes
20/12/2005	New auditor
27/09/2005	Modification du Conseil d'Administration
27/09/2005	Appointment/resignation of company officers
27/09/2005	Private document
27/09/2005	Acte sous seing privé
27/09/2005	Nomination/démission des organes de gestion
27/09/2005	PV d'Assemblée
27/09/2005	Minutes of general meeting of shareholders
03/08/2005	Cession de parts
03/08/2005	Nomination/démission des organes de gestion
03/08/2005	Acte modificatif
03/08/2005	Appointment/resignation of company officers
03/08/2005	Private document
03/08/2005	Acte sous seing privé
03/08/2005	Changement de Président (PDG, PCA)
03/08/2005	Sale of shares
18/07/2005	Updated articles of association
18/07/2005	Statuts mis à jour
18/07/2005	Private document
18/07/2005	Acte sous seing privé
18/07/2005	Nomination/démission des organes de gestion
18/07/2005	PV d'Assemblée
18/07/2005	Changement de Président (PDG, PCA)
18/07/2005	Appointment/resignation of company officers
18/07/2005	Minutes of general meeting of shareholders
31/12/2004	New accounts available
02/09/2004	PV d'Assemblée
02/09/2004	Statuts mis à jour
02/09/2004	Updated articles of association
02/09/2004	Changement de Commissaire aux Comptes
02/09/2004	New auditor
02/09/2004	Fusion
02/09/2004	Merger
02/09/2004	Augmentation de Capital
02/09/2004	Capital increase
02/09/2004	Capital reduction
02/09/2004	Réduction de Capital
02/09/2004	Change to corporate purpose
02/09/2004	Modification de l'objet social
02/09/2004	Changement de dénomination sociale
02/09/2004	New company name
02/09/2004	Changement de Président (PDG, PCA)
02/09/2004	Modification du Conseil d'Administration
02/09/2004	Acte sous seing privé
02/09/2004	Private document
02/09/2004	Déclaration de conformité
02/09/2004	Appointment/resignation of company officers
02/09/2004	Nomination/démission des organes de gestion
02/09/2004	Minutes of general meeting of shareholders
07/07/2004	Minutes of Board meeting
07/07/2004	Minutes of general meeting of shareholders
07/07/2004	Nomination/démission des organes de gestion
07/07/2004	Appointment/resignation of company officers
07/07/2004	Private document
07/07/2004	Acte sous seing privé
07/07/2004	Modification du Conseil d'Administration
07/07/2004	Changes to the Board of Directors
07/07/2004	Changement de Président (PDG, PCA)
07/07/2004	PV du Conseil d'Administration
07/07/2004	PV d'Assemblée
28/05/2004	Private document
28/05/2004	Audit or Management Report
28/05/2004	Planned merger
28/05/2004	Projet de Fusion
28/05/2004	Rapport des Commissaires ou du Gérant
28/05/2004	Acte sous seing privé
23/04/2004	Requête et Ordonnance
31/12/2003	New accounts available
08/10/2003	Modification du Conseil d'Administration
08/10/2003	Acte sous seing privé
08/10/2003	PV d'Assemblée
08/10/2003	Acte modificatif
18/10/2002	Acte sous seing privé
18/10/2002	PV d'Assemblée
18/10/2002	Nomination/démission des organes de gestion
18/10/2002	Modification du Conseil d'Administration
18/10/2002	Changement de Président (PDG, PCA)
18/10/2002	Immatriculation suite à transfert
18/10/2002	Transfert du Siège hors du ressort du Tribunal de Commerce
18/10/2002	PV du Conseil d'Administration
18/10/2002	Changement de Forme Juridique avec changement de catégorie
18/10/2002	Changement de Forme Juridique sans changement de catégorie
18/10/2002	Statuts mis à jour
18/10/2002	Rapport des Commissaires ou du Gérant
24/07/2001	Augmentation de Capital
24/07/2001	Statuts mis à jour
24/07/2001	Conversion du Capital Social en Euros
24/07/2001	PV d'Assemblée
24/07/2001	Acte sous seing privé
02/07/1999	Acte sous seing privé
02/07/1999	Changement de Commissaire aux Comptes
02/07/1999	Nomination/démission des organes de gestion
02/07/1999	PV d'Assemblée
15/07/1998	Acte sous seing privé
15/07/1998	Immatriculation secondaire devient principale
15/07/1998	Transfert du Siège dans le ressort du Tribunal de Commerce
15/07/1998	PV d'Assemblée
15/07/1998	Statuts mis à jour
27/03/1998	Acte sous seing privé
27/03/1998	Changement de Président (PDG, PCA)
27/03/1998	Nomination/démission des organes de gestion
27/03/1998	PV du Conseil d'Administration
22/08/1997	Nomination/démission des organes de gestion
22/08/1997	Modification du Conseil d'Administration
22/08/1997	Acte sous seing privé
22/08/1997	PV d'Assemblée
30/07/1996	Nomination/démission des organes de gestion
30/07/1996	PV d'Assemblée
30/07/1996	Acte modificatif
02/07/1993	Statuts mis à jour
02/07/1993	Déclaration de conformité
02/07/1993	PV d'Assemblée
02/07/1993	Acte modificatif

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.06
UK Pound	1	Rs.78.48
Euro	1	Rs.64.99

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.