MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	SOBORIZ INDUSTRIE
Registered Office :	Le Forban, Zi N 2, 3 Rue Stevenson, Bp 53 97822 Le Port Cedex
Country :	France
Financials (as on) :	31.12.2008
Date of Incorporation :	December 1990
Legal Form :	Public Limited Company With Board Of Directors
Line of Business :	Activities of Grain Mill
No. of Employees :	49

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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

SOBORIZ INDUSTRIE

company summary

Trade name	LE FORBAN
Activity (APE)	Autres activités du travail des grains (1061B)	Legal form	Public limited company with board of directors
Phone	02 62 42 03 83	RCS Registration	RCS St-Denis de la Reunion B 380 035 519
Fax		Share capital	1,177,020 Euros
Address	SOBORIZ INDUSTRIE LE FORBAN ZI N¿2 3 RUE STEVENSON BP 53 97822 LE PORT CEDEX	Incorporated Date	12/1990
Nationality	France	Status	Economically active

company details

Company details

Activity (APE)	Autres activités du travail des grains (1061B) (Other activities of grain mill)
RCS Registration	RCS St-Denis de la Reunion B 380 035 519	Share capital	1,177,020 Euros
Registration Court	St-Denis de la Reunion (97)	Legal form	Public limited company with board of directors
Court Registry Number	90 B 00594	EU VAT Number	FR94380035519
Incorporation Date	12/1990	Formation Date	08/1990
Deregistration Date		Last account Date	31/12/2008
Nationality	France

Establishment details

Trade name	LE FORBAN
Activity (APE)	Autres activités du travail des grains (1061B)	Business Pages FT®
Postal Address	SOBORIZ INDUSTRIE LE FORBAN ZI N¿2 3 RUE STEVENSON BP 53 97822 LE PORT CEDEX	Trading Address	3 RUE STEVENSON 97420 LE PORT
Telephone	02 62 42 03 83
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	08/1990	Reason for formation	Contribution
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department		Region	Réunion
District	44	Area	491
City	LE PORT	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> SOBORIZ INDUSTRIE <<<  - Autres activités du travail des grains (1061B)  in LE PORT  (97420)
Secondary establishments

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

Workforces

Workforce at address

20 to 49 employees

Company workforce

20 to 49 employees

DIRECTORS/MANAGEMENT

Current Directors

3

directors

Name	M. GAUTHERON MARC
Manager position	Directeur général	Date of birth	19/05/1958
Place of birth
Type of manager	Individual	Name at birth of manager

Name	M. VAN ARENDONK GERARD
Manager position	Administrateur, Président du conseil d'administration	Date of birth	01/12/1953
Place of birth	BRUGNAC
Type of manager	Individual	Name at birth of manager

Name	M. BOURDILLON JEAN
Manager position	Administrateur	Date of birth	07/12/1950
Place of birth	MARSEILLE
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 du conseil d'administration	M GUY-ANTOINE LAVENNE

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

1,177,020 Euros

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Safe Number	Company number	Click here to view the affiliation links
	SOBORIZ INDUSTRIE	FR02643246	380035519

Ultimate Parent

1 ultimate parent company for this company >  SOBORIZ INDUSTRIE  - Autres activités du travail des grains (1061B)  in LE PORT  (97420)

Group data

Ultimate parent company	SOBORIZ INDUSTRIE
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-

Go directly to the current company

Display only where participation % > 33 %

Raison sociale	Safe Number	SIREN	Parts	Score	Limite	Derniers comptes publiés
SOBORIZ INDUSTRIE	FR02643246	380035519	-	98	250 000 €	31/12/2008
SCI M3	FR05252726	422587634	Min de blocage	95	-	31/12/2008

Type of shareholder

Shareholders

To view this content, JavaScript must be enabled, and you need the latest version of the Adobe Flash Player.

Please download the free Flash Player and refresh the page.

Linkages

Ultimate parent company	SOBORIZ INDUSTRIE
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-

FINANCIAL INFORMATION

Trading to Date	12/31/2008	12/31/2006	12/31/2005
Turnover	13,808,705 €	9,113,318 €	10,079,818 €
Gross Operating Surplus	4,07 % Turnover	-1,18 % Turnover	2,29 % Turnover
Net worth	2,760,436 €	2,246,034 €	2,637,826 €
Employees	20 to 49 employees	-	-

Trends
	Profitability
	Liquidity
	Net worth

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2008	31/12/2006	31/12/2005
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	23/04/2010	-	-
Activity Code	1061B	1061B	1061B
Employees	0	27	38

Active account

Annual Accounts	31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 781 908	2,5%	1 738 014	-7,5%	1 878 668	511 679	248,2%
- Intangible assets	1 125 673	422,2%	215 577	-0,9%	217 524	8 390	13316,8%
- Tangible assets	945 447	2,5%	922 739	-13,2%	1 062 796	211 077	347,9%
- Financial assets	594 516	-0,9%	599 696	0,2%	598 347	21 432	2674,0%
Net current assets	6 399 777	101,5%	3 176 330	-26,3%	4 309 861	2 522 040	153,8%
- Stocks	2 877 842	146,2%	1 169 073	-51,2%	2 394 670	306 872	837,8%
- Advanced payments	100	101,5%	100	0%	0	0	0%
- Receivables	2 945 167	62,0%	1 817 463	5,8%	1 717 532	1 163 437	153,1%
- Securities and cash	576 668	204,0%	189 694	-4,0%	197 658	68 873	737,3%
- Prepaid expenses	-	-	-	-	-	424,50	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	8 181 685	66,5%	4 914 344	-20,6%	6 188 529	4 145 747	97,4%

Passive Account

Annual Accounts	31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Shareholders' equity	2 760 436	22,9%	2 246 034	-14,9%	2 637 826	1 407 261	96,2%
Share capital	1 177 020	0%	1 177 020	0%	1 177 020	382 000	208,1%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	37 990	-27,6%	52 488	-62,6%	140 370	0	0%
Liabilities	5 383 261	105,8%	2 615 822	-23,3%	3 410 332	1 557 435	245,6%
- Financial liabilities	2 499 218	135,1%	1 062 920	-21,3%	1 350 982	215 170	1061,5%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2 106 964	168,2%	785 667	-42,5%	1 366 444	641 070	228,7%
- Tax and social liabilities	293 265	-20,9%	370 809	18,6%	312 643	148 443	97,6%
- Other debts and fixed assets liabilities	483 814	22,0%	396 426	4,3%	380 263	38 801	1146,9%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	8 181 687	66,5%	4 914 344	-20,6%	6 188 529	4 145 748	97,4%

Results

Annual Accounts	31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Sales of Goods	14 111 897	54,3%	9 143 064	-9,6%	10 113 242	4 165 128	238,8%
Net turnover	13 808 705	51,5%	9 113 318	-9,6%	10 079 818	3 490 983	295,6%
- of which net export turnover	0	0%	0	0%	0	36 000	0%
Operating charges	13 730 810	46,5%	9 375 274	-9,3%	10 334 093	4 119 808	233,3%
Operating profit/loss	381 087	264,1%	-232 210	-5,1%	-220 852	64 801	488,1%
Financial income	34 990	1054,0%	3 032	-78,7%	14 264	5 780	505,4%
Financial charges	192 827	204,4%	63 355	-27,3%	87 146	16 780	1049,1%
Financial profit/loss	-157 837	-161,7%	-60 323	17,2%	-72 882	-11 128	-1318,4%
Pretax net operating income	223 250	176,3%	-292 533	0,4%	-293 734	81 821	172,9%
Extraordinary income	267 246	65,7%	161 268	54,1%	104 675	20 306	1216,1%
Extraordinary charges	210 364	32,3%	159 054	136,1%	67 365	9 458	2124,2%
Extraordinary profit/loss	56 882	12552,8%	2 214	-94,1%	37 309	0	0%
Net result	280 132	196,5%	-290 323	-13,2%	-256 424	38 015	636,9%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2008	31/12/2006	31/12/2005
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2008		31/12/2006		31/12/2005
	Grand Total (I to VI)	Net	8 181 685	66,5%	4 914 344	-20,6%	6 188 529
	Gross	CO	11 083 026	41,5%	7 834 289	-13,0%	9 000 255
	Amortisation	1A	2 901 341	-0,6%	2 919 945	3,8%	2 811 726

Non declared distributed capital (I)

		31/12/2008		31/12/2006		31/12/2005
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

			31/12/2008		31/12/2006		31/12/2005
	Total Active fixed asset (II)	Net	1 781 908	2,5%	1 738 014	-7,5%	1 878 668
	Gross	BJ	4 657 692	4,5%	4 457 779	-0,3%	4 472 213
	Amortisation	BK	2 875 784	5,7%	2 719 765	4,9%	2 593 545

Intangilble fixed assets

			31/12/2008		31/12/2006		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	28 315	0%	0	0%	0
	Gross	AF	79 333	163,4%	30 114	0%	30 114
	Amortisation	AG	51 018	69,4%	30 114	0%	30 114
	Goodwill	Net	1 097 358	409,0%	215 577	-0,9%	217 524
	Gross	AH	1 097 358	0%	1 097 358	0%	1 097 358
	Amortisation	AI	883 728	0,2%	881 781	0,2%	879 834
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	1 125 673	422,2%	215 577	-0,9%	217 524

Tangilble fixed assets

			31/12/2008		31/12/2006		31/12/2005
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	179 708	-12,6%	205 593	-11,6%	232 458
	Gross	AP	409 254	12,1%	365 121	2,8%	355 133
	Amortisation	AQ	229 546	43,9%	159 528	30,0%	122 675
	Plant	Net	674 202	4,5%	645 140	-18,3%	789 780
	Gross	AR	2 242 730	15,2%	1 947 494	1,1%	1 926 672
	Amortisation	AS	1 568 528	20,4%	1 302 354	14,6%	1 136 892
	Other tangible fixed assets	Net	84 402	152,4%	33 439	-17,6%	40 558
	Gross	AT	226 909	4,8%	216 507	-27,5%	298 636
	Amortisation	AU	142 507	-22,2%	183 068	-29,1%	258 078
	Fixed assets in construction	Net	7 135	-81,5%	38 567	0%	0
	Gross	AV	7 135	-81,5%	38 567	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	945 447		922 739		1 062 796

Financial assets

			31/12/2008		31/12/2006		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	1 525	0,1%	1 524	0%	1 524
	Gross	CU	1 982	-98,8%	164 445	0%	164 445
	Amortisation	CV	457	-99,7%	162 921	0%	162 921
	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	592 991	-0,9%	598 172	0,2%	596 823
	Gross	BH	592 991	-0,9%	598 172	-0,3%	599 855
	Amortisation	BI	0	0%	0	0%	3 032
	Sub Total Financial Assets		594 516		599 696		598 347

Current Assets (III)

			31/12/2008		31/12/2006		31/12/2005
	Total Assets	Net	6 399 777	101,5%	3 176 330	-26,3%	4 309 861
	Gross	CJ	6 425 334	90,3%	3 376 510	-25,4%	4 528 044
	Amortisation	CK	25 557	-87,2%	200 180	-8,3%	218 181

Stocks

			31/12/2008		31/12/2006		31/12/2005
	Raw materials	Net	2 539 159	155,2%	994 786	-52,3%	2 086 893
	Gross	BL	2 541 587	153,6%	1 002 031	-52,4%	2 104 542
	Amortisation	BM	2 428	-66,5%	7 245	-58,9%	17 649
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	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	320 199	89,9%	168 619	-41,2%	286 634
	Gross	BR	320 199	89,9%	168 619	-41,2%	286 634
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	18 484	226,1%	5 668	-73,2%	21 143
	Gross	BT	18 484	226,1%	5 668	-73,2%	21 143
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	2 877 842	146,2%	1 169 073	-51,2%	2 394 670

Advance payments to suppliers

			31/12/2008		31/12/2006		31/12/2005
	Advance payments to suppliers	Net	100	0%	100	0%	0
	Gross	BV	100	0%	100	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2008		31/12/2006		31/12/2005
	Trade accounts receivable	Net	2 654 616	55,7%	1 704 683	11,0%	1 535 321
	Gross	BX	2 677 745	41,1%	1 897 619	9,3%	1 735 853
	Amortisation	BY	23 129	-88,0%	192 936	-3,8%	200 532
	Other debtors	Net	266 315	179,9%	95 136	-39,1%	156 188
	Gross	BZ	266 315	179,9%	95 136	-39,1%	156 188
	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	2 920 931	62,3%	1 799 819	6,4%	1 691 509

Divers

			31/12/2008		31/12/2006		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	576 668	204,0%	189 694	-4,0%	197 658
	Gross	CF	576 668	204,0%	189 694	-4,0%	197 658
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	576 668	204,0%	189 694	-4,0%	197 658

Prepaid expenses

			31/12/2008		31/12/2006		31/12/2005
	Prepaid expenses	Net	24 236	37,4%	17 644	-32,2%	26 023
	Gross	CH	24 236	37,4%	17 644	-32,2%	26 023
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2008		31/12/2006		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	0	0%	0	0%	0
Gross		0	-	-	-	-

References

		31/12/2008		31/12/2006		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		31/12/2006		31/12/2005
Grand Total (I to V)	EE	8 181 687	66,5%	4 914 344	-20,6%	6 188 529

Shareholder Equity (I)

			31/12/2008		31/12/2006		31/12/2005
	Total shareholders' equity (Total I)	DL	2 760 436	22,9%	2 246 034	-14,9%	2 637 826
	Equity and shareholders' equity	DA	1 177 020	0%	1 177 020	0%	1 177 020
	Issue and merger premiums	DB	6 403	0%	6 403	0%	6 403
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	117 702	0%	117 702	0%	117 702
	Statutory or contractual reserve	DE	1 030 952	0%	1 030 952	0%	1 030 952
	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	-135 941	27,2%	-186 672	-367,6%	69 753
	Profit or loss for the period	DI	280 133	196,5%	-290 323	-13,2%	-256 424
	Investment grants	DJ	284 167	-27,3%	390 951	-20,6%	492 421
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2008		31/12/2006		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		31/12/2006		31/12/2005
	Total provisions for risks and charges (Total III)	DR	37 990	-27,6%	52 488	-62,6%	140 370
	Risk provisions	DP	0	0%	0	0%	70 150
	Reserves for charges	DQ	37 990	-27,6%	52 488	-25,3%	70 220

Liabilities (IV)

			31/12/2008		31/12/2006		31/12/2005
	Total Liabilities (Total IV)	EC	5 383 261	105,8%	2 615 822	-23,3%	3 410 332
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	2 399 218	126,5%	1 059 191	-21,1%	1 342 750
	Sundry loans and financial liabilities	DV	100 000	2581,7%	3 729	-54,7%	8 232
	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	2 106 964	168,2%	785 667	-42,5%	1 366 444
	Tax and social security liabilities	DY	293 265	-20,9%	370 809	18,6%	312 643
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	483 814	22,0%	396 426	4,3%	380 263

Translation loss (V)

		31/12/2008		31/12/2006		31/12/2005
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2008		31/12/2006		31/12/2005
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2008		31/12/2006		31/12/2005
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%	500 000	0,0%	500 001

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		31/12/2006		31/12/2005
Operating result (Total I-II)	GG	381 087	264,1%	-232 210	-5,1%	-220 852

2 - Financial result (V - VI)

		31/12/2008		31/12/2006		31/12/2005
Financial result (Total V-VI)	GV	-157 837	-161,7%	-60 323	17,2%	-72 882

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

		31/12/2008		31/12/2006		31/12/2005
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	223 250	176,3%	-292 533	0,4%	-293 734

4 - Extraordinary result (VII-VIII)

		31/12/2008		31/12/2006		31/12/2005
Extraordinary result (Total VII-VIII)	HI	56 882	2469,2%	2 214	-94,1%	37 309

Profit or loss

		31/12/2008		31/12/2006		31/12/2005
Profit or loss	HN	280 132	196,5%	-290 323	-13,2%	-256 424

Total Income (I+III+V+VII)

		31/12/2008		31/12/2006		31/12/2005
Total Income (I+III+V+VII)	HL	14 414 133	54,9%	9 307 364	-9,0%	10 232 180

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

		31/12/2008		31/12/2006		31/12/2005
Total charges (Total II+IV+VI+VIII+IX+X)	HM	14 134 001	47,3%	9 597 683	-8,5%	10 488 605

Operating income (I)

		31/12/2008		31/12/2006		31/12/2005
Total operating income (Total I)	FR	14 111 897	54,3%	9 143 064	-9,6%	10 113 242

Operating income (details)

			31/12/2008		31/12/2006		31/12/2005
	Sale of goods for resale	FC	324 159	153,6%	127 798	115,5%	59 297
	France	FA	324 159	153,6%	127 798	115,5%	59 297
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	13 778 441	0%	0	0%	10 006 561
	France	FD	13 778 441	0%	0	0%	10 006 561
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	-293 895	-103,3%	8 985 520	64266,2%	13 960
	France	FG	-293 895	-103,3%	8 985 520	64266,2%	13 960
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	13 808 705	51,5%	9 113 318	-9,6%	10 079 818
	France	FJ	13 808 705	51,5%	9 113 318	-9,6%	10 079 818
	Export	FK	0	0%	0	0%	0
	Stocked production	FM	102 535	186,9%	-118 015	-613,0%	23 004
	Self-constructed assets	FN	5 051	0%	0	0%	0
	Operating grants	FO	0	0%	1 380	0%	0
	Release of reserves and provisions	FP	187 023	48,0%	126 334	1117,8%	10 374
	Other income	FQ	8 583	-57,2%	20 047	43480,4%	46

Operating charges (II)

		31/12/2008		31/12/2006		31/12/2005
Total operating charges (Total II)	GF	13 730 810	46,5%	9 375 274	-9,3%	10 334 093

Exploitation charges

		31/12/2008		31/12/2006		31/12/2005
Purchase of goods for resale	FS	219 015	151,6%	87 040	90,5%	45 699
Change in stocks of goods for resale	FT	17 935	15,9%	15 475	275,5%	-8 820
Purchase of raw materials	FU	9 069 550	68,2%	5 390 848	-15,8%	6 405 813
Change in stocks of raw materials	FV	555 477	32,8%	418 219	21,5%	344 276
Other external purchases and charges	FW	2 178 801	43,9%	1 514 079	2,1%	1 482 248
Tax, duty and similar payments	FX	166 176	-7,6%	179 904	-7,5%	194 469
Payroll	FY	837 652	-21,1%	1 061 878	0,1%	1 060 791
Social security costs	FZ	309 328	-29,1%	436 359	25,6%	347 320

Depreciation

		31/12/2008		31/12/2006		31/12/2005
Depreciation of fixed assets	GA	206 054	-9,1%	226 764	-10,4%	253 170
Amortisation of fixed assets	GB	0	0%	20 450	0%	0
Depreciation/amortisation of current assets	GC	7 412	0%	0	0%	130 409
Provisions for risks and charges	GD	0	0%	0	0%	68 574

Other charges

		31/12/2008		31/12/2006		31/12/2005
Other charges	GE	163 410	573,6%	24 258	139,1%	10 145

Operating charges (III-IV)

		31/12/2008		31/12/2006		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		31/12/2006		31/12/2005
	Total financial income (Total V)	GP	34 990	1054,0%	3 032	-78,7%	14 264
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	34 990	0%	0	0%	0
	Released provisions and transferred charges	GM	0	0%	3 032	0%	0
	Exchange gains	GN	0	0%	0	0%	14 264
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2008		31/12/2006		31/12/2005
	Total financial charge (Total VI)	GU	192 827	204,4%	63 355	-27,3%	87 146
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	192 827	204,4%	63 355	-3,9%	65 920
	Exchange losses	GS	0	0%	0	0%	21 226
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2008		31/12/2006		31/12/2005
	Total extraordinary income (Total VII)	HD	267 246	65,7%	161 268	54,1%	104 675
	Extraordinary operating income	HA	162 463	5807,7%	2 750	-80,3%	13 980
	Extraordinary income from capital transactions	HB	0	0%	0	0%	67 130
	Released provisions and transferred charges	HC	104 783	-33,9%	158 518	572,7%	23 565

Extraordinary charges (VIII)

			31/12/2008		31/12/2006		31/12/2005
	Total extraordinary charges (Total VIII)	HH	210 364	32,3%	159 054	136,1%	67 365
	Extraordinary operating charges	HE	0	0%	159 054	256,2%	44 650
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	22 715
	Extraordinary reserves and provisions	HG	210 364	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2008		31/12/2006		31/12/2005
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2008		31/12/2006		31/12/2005
Tax on profits (Total X)	HK	0	0%	0	0%	0

References

		31/12/2008		31/12/2006		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%	1 899
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%	6 419

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		31/12/2006		31/12/2005
	Gross value at begin of period	OG	0	0%	4 472 214	-18,0%	5 451 718
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	112 334	-72,3%	406 203
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	126 769	-90,9%	1 385 708
	Gross value at the end of period	OL	0	0%	4 457 779	-0,3%	4 472 213

Research and development Charge (Total I)

			31/12/2008		31/12/2006		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		31/12/2006		31/12/2005
	Gross value at begin of period	KD	0	0%	1 127 472	0%	1 127 472
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	19 369	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	19 369	0%	0
	Gross value at the end of period	LW	0	0%	1 127 472	0%	1 127 472

Tangible fixed assets (Total III)

			31/12/2008		31/12/2006		31/12/2005
	Gross value at begin of period	LN	0	0%	2 580 441	-27,5%	3 558 755
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	91 590	-77,3%	402 820
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	104 342	-92,4%	1 381 135
	Gross value at the end of period	NH	0	0%	2 567 689	-0,5%	2 580 440

Fiancial assets (Total IV)

			31/12/2008		31/12/2006		31/12/2005
	Gross value at begin of period	LQ	0	0%	764 301	-0,2%	765 491
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	1 375	-59,4%	3 383
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	3 058	-33,1%	4 573
	Gross value at the end of period	NK	0	0%	762 617	-0,2%	764 301

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

			31/12/2008		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	0N	0	0%	2 427 592	-31,3%	3 533 014
Increases		0P	0	0%	226 764	-10,4%	253 170
Decreasess		0Q	0	0%	97 512	-92,8%	1 358 592
	Reserve for depreciation value at the end of period	0R	0	0%	2 556 844	5,3%	2 427 592

Research and development charge (Total I)

			31/12/2008		31/12/2006		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		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	PE	0	0%	909 947	0,5%	905 657
Increases		PF	0	0%	1 947	-54,6%	4 290
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	911 894	0,2%	909 947

Total fixed assets amotisation (Total III)

			31/12/2008		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	QU	0	0%	1 517 645	-42,2%	2 627 357
Increases		QV	0	0%	224 817	-9,7%	248 880
Decreases		QW	0	0%	97 512	-92,8%	1 358 592
	Decreasess by budget item transfer	QX	0	0%	1 644 950	8,4%	1 517 645

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

			31/12/2008		31/12/2006		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		31/12/2006		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		31/12/2006		31/12/2005
	Value at begining of period	7C	0	0%	524 504	57,0%	333 997
Increases		UB	0	0%	20 451	-89,7%	198 983
Decreases		UC	0	0%	129 366	1426,4%	8 475
	Value at the end of period	UD	0	0%	415 589	-20,8%	524 504

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)

			31/12/2008		31/12/2006		31/12/2005
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2008		31/12/2006		31/12/2005
	Value at begining of period	5Z	0	0%	140 370	90,0%	73 897
Increases		TV	0	0%	5 500	-92,0%	68 574
Decreases		TW	0	0%	93 383	4346,8%	2 100
	Value at the end of period	TX	0	0%	52 487	-62,6%	140 370

Total Provision for depreciation (Total III)

			31/12/2008		31/12/2006		31/12/2005
	Value at begining of period	7B	0	0%	384 134	47,7%	260 100
Increases		TY	0	0%	14 951	-88,5%	130 409
Decreases		TZ	0	0%	35 983	464,4%	6 375
	Value at the end of period	UA	0	0%	363 101	-5,5%	384 134

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

		31/12/2008		31/12/2006		31/12/2005
Gross value	VT	0	0%	2 608 570	0%	0
1 year at most	VU	0	0%	2 018 747	0%	0
More than one year	VV	0	0%	589 823	0%	0

State of loans

		31/12/2008		31/12/2006		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	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	598 172	0%	0
Other financial assets (1 year at most)	UV	0	0%	8 349	0%	0

Receivables statement of assets

		31/12/2008		31/12/2006		31/12/2005
Customers doubtful or disputed	VA	0	0%	192 266	0%	0
Other claims customer	UX	0	0%	1 705 353	0%	0
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%	42	0%	0
Social Security and other social organizations	UZ	0	0%	5 017	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	49 888	0%	0
Other taxes and payments assimilated	VN	0	0%	995	0%	0
State and other public - Miscellaneous	VP	0	0%	846	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	37 348	0%	0

Prepaid

		31/12/2008		31/12/2006		31/12/2005
Prepaid	VS	0	0%	17 644	0%	0

State Debt

			31/12/2008		31/12/2006		31/12/2005
	Total debt (gross)	VY	0	0%	2 615 822	-22,8%	3 388 558
1 year at most		VZ2	0	0%	2 186 081	-29,7%	3 109 476
More than 1 year and 5 years at most		VZ3	0	0%	429 741	74,8%	245 917
More than 5 years		VZ4	0	0%	0	0%	33 165

Details

			31/12/2008		31/12/2006		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%	500 000	0,0%	500 001
1 year at most		VG2	0	0%	500 000	0,0%	500 001
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%	559 191	-33,4%	840 217
1 year at most		VH2	0	0%	129 450	10,9%	116 742
More than 1 year and 5 years at most		VH3	0	0%	429 741	74,8%	245 917
	Loans and various financial liabilities (gross)	8A1	0	0%	1 896	0%	0
1 year at most		8A2	0	0%	1 896	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	782 009	-42,0%	1 347 202
1 year at most		8B2	0	0%	782 009	-42,0%	1 347 202
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	89 902	-30,0%	128 487
1 year at most		8C2	0	0%	89 902	-23,0%	116 742
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	279 091	45,5%	191 776
1 year at most		8D2	0	0%	279 091	45,5%	191 776
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%	-43	-103,7%	1 156
1 year at most		VW2	0	0%	-43	-103,7%	1 156
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	1 807	-39,1%	2 968
1 year at most		VQ2	0	0%	1 807	-39,1%	2 968
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	0	0%	1 833	-77,7%	8 232
1 year at most		VI2	0	0%	1 833	-77,7%	8 232
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	0	0%	400 136	5,2%	380 263
1 year at most		8K2	0	0%	400 136	5,2%	380 263
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		31/12/2006		31/12/2005
Loans made during the period	VJ	0	0%	300 000	1050,0%	26 087
Debt repaid during the period	VK	0	0%	563 050	393,4%	114 116

Table allocation results and other information
Dividends distributed

		31/12/2008		31/12/2006		31/12/2005
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2008		31/12/2006		31/12/2005
Commitments leasing furniture	YQ	0	0%	657 083	130,6%	285 000
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		31/12/2006		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		31/12/2006		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		31/12/2006		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		31/12/2006		31/12/2005
Average number of employees	YP	0	0%	27	-28,9%	38

Groups and Shareholders

		31/12/2008		31/12/2006		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		31/12/2006		31/12/2005	Sector Median 2008
Fixed Asset Financing		1,75	40,0%	1,25	-10,1%	1,39	1,32	32,6%
Global Debt		140 days	35,9%	103 days	-15,6%	122 days	129 days	8,5%
Working Capital Fund overall net		92 days	109,1%	44 days	-30,2%	63 days	47,50 days	93,7%
Financial independence		115,06%	-45,7%	212,05%	7,9%	196,45%	234,69%	-51,0%
More ratios
Solvability		33,74%	-26,2%	45,70%	7,2%	42,62%	29,96%	12,6%
Capacity debt futures		%	-	356,82%	-16,6%	427,70%	1076,15%	-
Coverage of current assets by net working capital overall		54,92%	64,2%	33,45%	-14,0%	38,88%	33,86%	62,2%
General Liquidity			-	0,92	0%	0	0,63	-
Restricted Liquidity			-	1,01	1583,3%	0,06	0,82	-

Management or rotation

		31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Need background in operating working capital		76 days	35,7%	56 days	-22,2%	72 days	38 days	100%
Treasury		15 days	225,0%	-12 days	-9,1%	-11 days	4,50 days	233,3%
Inventory turnover of goods		28 days	40,0%	20 days	-90,3%	206 days	5 days	460,0%
Average length of credit granted to customers		70 days	-6,7%	75 days	21,0%	62 days	66 days	6,1%
Average length of credit obtained suppliers		63 days	65,8%	38 days	-35,6%	59 days	63 days	0%
More ratios
Inventory turnover of raw materials in industrial enterprises		101 days	50,7%	67 days	-43,2%	118 days	33 days	206,1%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	391 days	196,50 days	-
Rotation tangible assets		%	-	354,92%	-9,1%	390,62%	211,01%	-

Profitability of the business

		31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Margin trading		0,63%	125,0%	0,28%	27,3%	0,22	0,53%	18,9%
Profitability of the business		4,07	444,9%	-1,18	-151,5%	2,29	5,31%	-23,4%
Net profit		2,03%	163,6%	-3,19%	-25,6%	-2,54%	1,49%	36,2%
More ratios
Growth rate of turnover (excluding VAT)		51,52%	637,2%	-9,59%	-264,5%	5,83%	24,21%	112,8%
Rates integration		13,58%	-21,1%	17,22%	-5,3%	18,19%	16,65%	-18,4%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		61,16%	-35,9%	95,45%	24,3%	76,79%	48,34%	26,5%
Weight interests		1,40	100%	0,70%	-18,6%	0,86%	0,79%	77,2%

Return on capital

		31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Cash flow from the overall profitability		5,04%	1172,3%	-0,47%	0%	-0,47%	4,25%	18,6%
Rates of economic profitability		11%	466,7%	-3%	-150,0%	6%	14%	-21,4%
Financial profitability		2760436%	22,9%	2246034%	-14,9%	2637826%	1407261%	96,2%
Return on investment		8,99%	231,0%	-6,86%	-61,8%	-4,24%	6,98%	28,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2008		31/12/2006		31/12/2005	Sector Median 2008
Turnover	13 808 705	51,5%	9 113 318	-9,6%	10 079 818	3 490 983 €	295,6%

Sales of goods	324 159	153,6%	127 798	115,5%	59 297
- Purchase of goods	219 015	151,6%	87 040	90,5%	45 699
+/- Stock of goods variation	17 935	15,9%	15 475	275,5%	-8 820
Trading margin	87 209 €	244,9%	25 283 €	12,8%	22 418 €	7 593 €	1048,5%
	0,63 % CA	125,0%	0,28 % CA	27,3%	0,22 % CA	0,62 % CA	1,6%

Sale of goods produced	13 484 546	50,1%	8 985 520	-10,3%	10 020 521
+/- Stocked production	102 535	186,9%	-118 015	-613,0%	23 004
+ Self-constructed assets	5 051	0%	0	0%	0
Period production	13 592 132 €	53,3%	8 867 505 €	-11,7%	10 043 525 €	1 207 522 €	1025,6%
	98,43 % CA	1,2%	97,30 % CA	-2,3%	99,64 % CA	98,66 % CA	-0,2%

Trading margin	87 209	244,9%	25 283	12,8%	22 418	7 593	1048,5%
+ Period Production	13 592 132	53,3%	8 867 505	-11,7%	10 043 525	1 207 522	1025,6%
- Purchase of raw materials	9 069 550	68,2%	5 390 848	-15,8%	6 405 813
+/- Change in stocks of raw materiels	555 477	32,8%	418 219	21,5%	344 276
- Other external purchases and charges	2 178 801	43,9%	1 514 079	2,1%	1 482 248
Added value	1 875 513 €	19,5%	1 569 642 €	-14,4%	1 833 606 €	498 178 €	276,5%
	13,58 % CA	-21,1%	17,22 % CA	-5,3%	18,19 % CA	16,65 % CA	-18,4%

Added value	1 875 513 €	19,5%	1 569 642 €	-14,4%	1 833 606 €	498 178 €	276,5%
+ Operating grants	0	0%	1 380	0%	0
- Tax, duty and similar payments	166 176	-7,6%	179 904	-7,5%	194 469
- Personal charges	1 146 980	-23,4%	1 498 237	6,4%	1 408 111
Gross operating surplus	562 357 €	625,0%	-107 119 €	-146,4%	231 026 €	134 491 €	318,1%
	4,07 % CA	444,9%	-1,18 % CA	-151,5%	2,29 % CA	5,31 % CA	-23,4%

Gross operating surplus	562 357 €	625,0%	-107 119 €	-146,4%	231 026 €	134 491 €	318,1%
+ Release of reserves and provisions	187 023	48,0%	126 334	1117,8%	10 374
+ Other operating income	8 583	-57,2%	20 047	43480,4%	46
- Depreciation/Amortisation	213 466	-13,7%	247 214	-45,3%	452 153
- Other charges	163 410	573,6%	24 258	139,1%	10 145
Operating result	381 087 €	264,1%	-232 210 €	-5,1%	-220 852 €	64 801 €	488,1%
	2,76 % CA	208,2%	-2,55 % CA	-16,4%	-2,19 % CA	2,65 % CA	4,2%

Operating result	381 087 €	264,1%	-232 210 €	-5,1%	-220 852 €	64 801 €	488,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	34 990	1054,0%	3 032	-78,7%	14 264
- Financial charges	192 827	204,4%	63 355	-27,3%	87 146
Pre-tax result	223 250 €	176,3%	-292 533 €	0,4%	-293 734 €	95 252 €	134,4%
	1,62 % CA	150,5%	-3,21 % CA	-10,3%	-2,91 % CA	2,36 % CA	-31,4%

Extraordinary income	267 246	65,7%	161 268	54,1%	104 675	20 306	1216,1%
- Extraordinary charges	210 364	32,3%	159 054	136,1%	67 365
Extraordinary result	56 882 €	2469,2%	2 214 €	-94,1%	37 310 €	0 €	0%
	0,41 % CA	1950,0%	0,02 % CA	-94,6%	0 % CA	0 % CA	0%

Pre-tax result	223 250 €	176,3%	-292 533 €	0,4%	-293 734 €	95 252 €	134,4%
Extraordinary result	56 882 €	2469,2%	2 214 €	-94,1%	37 310 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	0	0%	0
Net result	280 132 €	196,5%	-290 319 €	-13,2%	-256 424 €	38 018 €	636,8%
	2,03 % CA	163,6%	-3,19 % CA	-25,6%	-2,54 % CA	1,78 % CA	14,0%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Last published preferential right

This company is not under monitoring

Commentary

The comments are arranged in decreasing order of importance

	The latest figures are too old
	The company has a parent
	The company is more than 15 years old
	The company has an activity presenting an increased risk
	Tangible fixed assets are up to 945 447 €
	The company has a share capital of 1 177 020 €, which is excellent
	The net result is up to 381 087 €, which is good
	The company is in financial debt of 2 499 218 €
	The financial result is negative on the period : -157 837 €

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

Preferential rights details and history

Status of collection

This company is not under monitoring

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
29/06/2012	JAL	Appointment of the social representative
L officiel de la Réunion (Journal de l Ile de la réunion, Quotidien de la réunion, Témoignages) Date de décision : 29/03/2012 Société faisant l'objet d'une nomination : 380035519 - SOBORIZ INDUSTRIE, LE FORBAN, 3 RUE STEVENSON, ZI N¿2, BP 53, 97420 LE PORT Nominé : Monsieur Jean BOURDILLON, 13260 CASSIS En la fonction de : Président Nominé : Monsieur Philippe PUISSEGUR, 97434 ST GILLES LES BAINS En la fonction de : Administrateur
29/06/2012	JAL	Resignation / Revocation of the social representative
L officiel de la Réunion (Journal de l Ile de la réunion, Quotidien de la réunion, Témoignages) Date de décision : 29/03/2012 La société 380035519 - SOBORIZ INDUSTRIE, LE FORBAN, 3 RUE STEVENSON, ZI N¿2, BP 53, 97420 LE PORT Fait l'objet du départ de Monsieur Gérard VAN ARENDONK, De Monsieur Gérard VAN ARENDONK
16/05/2010	Bodacc C	Comptes annuels et rapports
974 - LA REUNION GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE SAINT-DENIS 3936 - 380035519 RCS. SOBORIZ INDUSTRIE. Forme : S.A. Adresse : Z.I. n° 1, B.P. 53, 97822 Le Port Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
09/08/2009	Bodacc B	Modification et mutation diverse
974 - LA REUNION GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE SAINT-DENIS 1468 - 380 035 519 RCS Saint-Denis. SOBORIZ INDUSTRIE. Forme : Société anonyme. Enseigne : Le Forban. Administration : changement de président du conseil d'administration et administrateur, partant : DE LAVENNE DE LA MONTOISE (Guy, Antoine), nouveau : VAN ARENDONK (Gérard). Capital : 1177020 EUR. Adresse du siège social : ZI n° 1, 53 97420 Le Port Cedex. Commentaires : modification survenue sur l'administration, date d'effet : 22/04/2009.
13/02/2009	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE SAINT-DENIS 3928 - 380035519 RCS. SOBORIZ INDUSTRIE. Forme : S.A. Adresse : Z.I. n° 1, B.P. 53, 97822 Le Port Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
03/02/2008	Bodacc B	Modification et mutation diverse
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE SAINT-DENIS 4739 - 380 035 519 RCS Saint Denis. SOBORIZ INDUSTRIE. Forme : S.A. Enseigne : Le Forban. Administration : modification relative aux dirigeants, démission d'un administrateur : FOURCADE (Robert). Capital : 1177020 EUR. Activité : non précisée. Adresse du siège social : Z.I. n° 1, BP 53 97822 Le Port Cedex. Commentaires : modification survenue sur l'administration. Date d'effet : 20/06/2007.
09/07/2007	Bodacc C	Avis de dépôt des comptes
3777 - Saint-Denis B 380 035 519. RC 90-B 594. SOBORIZ INDUSTRIE. Forme: S.A. Adresse du siège social: Z.I. no 1, B.P. 53,97822 Le Port Cedex. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
24/06/2007	Bodacc C	Avis de dépôt des comptes
3906 - Saint-Denis B 380 035 519. RC 90-B 594. SOBORIZ INDUSTRIE. Forme: S.A. Adresse du siège social: Z.I. no 1, B.P. 53,97822 Le Port Cedex. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
24/05/2006	Bodacc C	Avis de dépôt des comptes
3904 - RCS Saint-Denis B 380 035 519. RC 90-B 594. SOBORIZ INDUSTRIE. Forme: S.A. Adresse du siège social: Z.I. no 1, B.P. 53,97822 Le Port Cedex. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
24/01/2006	Bodacc B	Modifications et mutations diverses
2399 - RCS Saint-Denis 380 035 519. RC 90-B 594. SOBORIZ INDUSTRIE. Forme : S.A. Capital : 1 177 020 euros. Nom commercial : Le Forban. Adresse du siège social : Z.I. no 1, B.P. 53,, 97822 Administration : nouveau président : LAVENNE (Guy, Antoine). Ancien président : BOURDILLON (Jean). Nouveau directeur général : GAUTHERON (Marc). Ancien directeur général : DE LAVENNE (Guy, Antoine). Date d'effet : 21 juin 2005.
24/02/2002	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Saint-Denis 380035519 RC 90-B 594 SOBORIZ INDUSTRIE. Forme : S.A. Capital : 11 770 200 F Nom commercial: Le Forban. Adresse : Z.I. n° 1, B.P. 53, 97822 Le Port Cedex Nouvelle situation du siège social. Capital : 1 177 020 euros. Date d'effet : 14 juin 2001.
19/05/2000	Bodacc B	Modifications et mutations diverses
RCS Saint-Denis B 380035519 RC 90-B 594 SOBORIZ INDUSTRIE. Forme : S.A. Capital : 11 770 200 F. Adresse du siège social : Z. I. no 1, B.P. 53, 97822 Le Port Cedex. Administration : administrateur partant : CHATEL (Marie, Françoise). Nomination en qualité de second commissaire aux comptes titulaire : FIDECOMPTA. Nomination en qualité de second commissaire aux comptes suppléant : FIDAREX. Date d'effet : 29 juin 1999.
11/04/1998	Bodacc B	Modifications et mutations diverses
RCS Saint-Denis B 380 035 519 RC 90-B 594 SOBORIZ INDUSTRIE. Forme : S.A. Capital : 11 125 000 F. Adresse du siège social : Z.I. n° 1 B.P. 53 97822 Le Port Cedex. Administration : nouveau président BOURDILLON (Jean). Ancien président : VIVET (Raymond). Nouveaux administrateurs : BOURDILLON (Jean) et FOURCADE (Robert). Date d'effet : 10 octobre 1997.
29/03/1996	Bodacc B	Modifications et mutations diverses
RCS Saint-Denis B 380 035 519 RC 90-B 594 SOBORIZ INDUSTRIE. Forme : S.A. Capital : 11 770 200 F. Adresse du siège social : Z.I. n° 1, B.P. 53 97822 Le Port Cedex. Administration : ancien administrateur : STE SORECOM. Nouveaux administrateurs : STE INDUSTRIELLE AGRICOLE ET COMMERCIALE D'OUTRE-MER, représentée par CHATEL (Jean-Claude) et STE FINANCEMENT PARTICIPATION GESTION, représentée par BREBION (Jean-Marc). Date d'effet : 20 juin 1995.

Company events history

Date	Description
29/06/2012	Legal Gazette: Resignation / Revocation of the social representative
29/03/2012	Legal Gazette: Appointment of the social representative
16/05/2010	Bodacc C : Deposit accounts notice
09/08/2009	Bodacc B: Various editing or changing
23/06/2009	Private document
23/06/2009	Minutes of general meeting of shareholders
23/06/2009	Appointment/resignation of company officers
23/06/2009	Changes to the Board of Directors
13/02/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
10/10/2008	Minutes of general meeting of shareholders
10/10/2008	Private document
10/10/2008	Appointment/resignation of company officers
10/10/2008	New auditor
03/02/2008	Bodacc B: Various editing or changing
03/02/2008	New Bodacc B ads detected
24/09/2007	Private document
24/09/2007	Appointment/resignation of company officers
24/09/2007	Minutes of general meeting of shareholders
24/09/2007	Changes to the Board of Directors
31/12/2006	New accounts available
31/12/2005	New accounts available
27/10/2005	Acte sous seing privé
27/10/2005	Private document
27/10/2005	Appointment/resignation of company officers
27/10/2005	Nomination/démission des organes de gestion
27/10/2005	Minutes of general meeting of shareholders
27/10/2005	PV d'Assemblée
27/10/2005	Audit or Management Report
27/10/2005	Rapport des Commissaires ou du Gérant
31/12/2004	New accounts available
28/10/2004	Statuts mis à jour
28/10/2004	PV du Conseil d'Administration
28/10/2004	Minutes of Board meeting
28/10/2004	Updated articles of association
28/10/2004	PV d'Assemblée
28/10/2004	Private document
28/10/2004	Minutes of general meeting of shareholders
28/10/2004	Acte sous seing privé
05/03/2004	PV d'Assemblée
05/03/2004	Acte sous seing privé
05/03/2004	Modification du Conseil d'Administration
05/03/2004	Nomination/démission des organes de gestion
05/03/2004	PV du Conseil d'Administration
31/12/2003	New accounts available
10/01/2002	Acte sous seing privé
10/01/2002	Statuts mis à jour
10/01/2002	Réduction de Capital
10/01/2002	Conversion du Capital Social en Euros
10/01/2002	Rapport des Commissaires ou du Gérant
10/01/2002	PV d'Assemblée
07/04/2000	Acte sous seing privé
07/04/2000	PV d'Assemblée
07/04/2000	Nomination/démission des organes de gestion
24/02/1998	Acte sous seing privé
24/02/1998	PV d'Assemblée
24/02/1998	Nomination/démission des organes de gestion
24/02/1998	Modification du Conseil d'Administration
24/02/1998	Changement de Président (PDG, PCA)
24/02/1998	PV du Conseil d'Administration
13/12/1996	Nomination/démission des organes de gestion
13/12/1996	Acte sous seing privé
13/12/1996	PV du Conseil d'Administration
12/02/1996	PV d'Assemblée
12/02/1996	Modification du Conseil d'Administration
12/02/1996	Nomination/démission des organes de gestion
12/02/1996	PV du Conseil d'Administration
24/02/1994	PV du Conseil d'Administration
24/02/1994	Changement de Président (PDG, PCA)
24/02/1994	PV d'Assemblée
24/02/1994	Modification du Conseil d'Administration
24/02/1994	Nomination/démission des organes de gestion

Establishment events history

Date	Description
06/07/2012	Update Rating
05/03/2012	Update Rating
21/10/2010	Update Limit
25/09/2010	Update Rating
27/04/2010	Update Limit
27/04/2010	Update Rating
30/12/2009	Update Rating
27/09/2008	Update Rating
28/01/2008	Update Rating
28/01/2008	Update Limit
10/12/2007	Update Limit
09/12/2007	Update Limit

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.14
UK Pound	1	Rs.86.29
Euro	1	Rs.67.72

INFORMATION DETAILS

Report Prepared by :

PDT

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.