MIRA INFORM REPORT

Report Date :

14.03.2012

IDENTIFICATION DETAILS

Name :	LANDANGER

Registered Office :	13 Av De La Republique, 75011 Paris 11

Country :	France

Financials (as on) :	31.08.2010

Date of Incorporation :	March 1997

Com. Reg. No.:	RCS Paris 0 411 501 695

Legal Form :	Public limited company with board of directors

Line of Business :	Manufacture of medical, surgical and dental

No. of Employees :	49

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	420,000 €
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^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

France

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

LANDANGER

SIRET

411 501 695 00026

company summary

Activity (APE)	Fabrication de matériel médico-chirurgical et dentaire (3250A) (Manufacture of medical, surgical and dental (3250A))	Legal form	Public limited company with board of directors
Phone	01 49 29 50 70	RCS Registration	RCS Paris 0 411 501 695
Fax	01 49 29 50 71	Share capital	1,188,000 Euros
Address	LANDANGER 13 AV DE LA REPUBLIQUE 75011 PARIS 11	Incorporated Date	04/1997
Trading Address	Z.I. la Vendue B P 2152 52906 Chaumont cedex, France

Nationality

France

Status

Economically active

company details

Activity (APE)	Fabrication de matériel médico-chirurgical et dentaire (3250A)
RCS Registration	RCS Paris 0 411 501 695	Share capital	1,188,000 Euros
Registration Court	Paris (75)	Legal form	Public limited company with board of directors
Court Registry Number	20 0 5B209	EU VAT Number	FR65411501695
Incorporation Date	04/1997	Formation Date	03/1997
Deregistration Date		Last account Date	31/08/2010
Nationality	France

CREDIT RECOMENDATION

Current Credit Limit: 420,000 €

DIRECTORS/MANAGEMENT

directors

Name	M. LANDANGER BENOÎT
Manager position	Président du conseil d'administration, Directeur général	Date of birth	01/07/1979
Place of birth	CHAUMONT (52000)
Type of manager	Individual	Name at birth of manager

Name	M. DEBLAIZE DIDIER
Manager position	Administrateur	Date of birth	30/03/1961
Place of birth	CHAUMONT (52000)
Type of manager	Individual	Name at birth of manager

Name	Mme. VINTER MARIE-CLAIRE
Manager position	Administrateur	Date of birth	12/07/1951
Place of birth	ESCARO (66360)
Type of manager	Individual	Name at birth of manager	RAJCHOWIAK

Name	M. LANDANGER ERIC
Manager position	Administrateur	Date of birth	13/07/1956
Place of birth	CHAUMONT (52000)
Type of manager	Individual	Name at birth of manager

Name	M. LANDANGER PATRICK
Manager position	Administrateur	Date of birth	15/05/1950
Place of birth	MANDRES-LA-CÔTE (52800)
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 BENOÎT LANDANGER
Président Directeur Général	M PATRICK LANDANGER
Président Directeur Général	M PATRICK LANDANGER
Directeur général	M BENOÎT LANDANGER
Directeur général délégué	M BENOIT LANDANGER
Directeur général délégué	M BENOÎT LANDANGER
Administrateur	M DIDIER DEBLAIZE
Administrateur	M BENOÎT LANDANGER
Administrateur	M ERIC LANDANGER
Administrateur	M ERIC LANDANGER
Administrateur	M LOUIS LANDANGER
Administrateur	M PATRICK LANDANGER
Administrateur	MME RENEE LANDANGER
Administrateur	Mme MARIE-CLAIRE VINTER

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	23/06/2008
Status of Monitoring	No social security and tax office preferential right to date

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

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

Linkages

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

FINANCIAL INFORMATION

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/08/2010	31/08/2009	31/08/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	13/12/2011	28/12/2010	14/12/2009
Activity Code	3250A	3250A	3250A
Employees	49	49	50

Active account

Annual Accounts	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	2 056 962	-5,4%	2 174 623	0,3%	2 167 280	50 095,50	4006,1%
- Intangible assets	62 165	-1,4%	63 034	-12,1%	71 727	11 079,50	461,1%
- Tangible assets	259 924	-43,8%	462 469	-4,2%	482 904	17 479,50	1387,0%
- Financial assets	1 734 873	5,2%	1 649 120	2,3%	1 612 649	791	219226,5%
Net current assets	7 043 023	17,4%	6 001 641	10,1%	5 453 404	85 928	8096,4%
- Stocks	2 717 713	8,8%	2 497 499	12,2%	2 226 280	6 542	41442,5%
- Advanced payments	143 808	17,4%	23 714	-21,2%	30 092	0	0%
- Receivables	4 064 008	24,3%	3 270 382	10,0%	2 972 167	35 695	11285,4%
- Securities and cash	117 494	-44,1%	210 046	-6,6%	224 865	27 410	328,7%
- Prepaid expenses	-	-	-	-	-	514	-
Accounts of regularization	0	0%	0	0%	1 064	0	0%
Total Assets	9 099 985	11,3%	8 176 266	7,3%	7 621 747	152 390	5871,5%

Passive Account

Annual Accounts	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Shareholders' equity	5 484 465	15,3%	4 756 320	6,1%	4 484 969	65 738	8242,9%
Share capital	1 188 000	0%	1 188 000	0%	1 188 000	8 000	14750,0%
Other capital resources	125 796	40,1%	89 767	0%	89 767	0	0%
Risk Provisions	449 735	-0,6%	452 595	29,4%	349 783	0	0%
Liabilities	3 039 991	5,6%	2 877 561	6,7%	2 697 204	77 841,50	3805,4%
- Financial liabilities	140 770	-48,6%	273 963	-27,3%	376 694	21 342,50	559,6%
- Advanced payments received	76 282	-28,5%	106 701	188,1%	37 042	0	0%
- Trade account payables	1 517 110	6,4%	1 425 247	23,1%	1 158 178	10 195,50	14780,2%
- Tax and social liabilities	1 222 115	44,6%	845 059	-2,0%	862 499	36 900,50	3211,9%
- Other debts and fixed assets liabilities	83 714	-62,9%	225 738	-14,1%	262 815	4 208,50	1889,2%
Account regularization	0	0%	875	0%	0	0	0%
Total liabilities	9 099 985	11,3%	8 176 266	7,3%	7 621 748	152 235,50	5877,6%

Results

Annual Accounts	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Sales of Goods	12 468 364	8,3%	11 518 109	4,7%	10 997 398	267 511,50	4560,9%
Net turnover	11 521 027	5,7%	10 901 662	6,1%	10 271 428	263 911,50	4265,5%
- of which net export turnover	2 913 564	26,6%	2 301 847	11,6%	2 062 901	0	0%
Operating charges	11 894 560	7,3%	11 084 465	6,5%	10 409 201	245 643,50	4742,2%
Operating profit/loss	573 804	32,3%	433 644	-26,3%	588 197	16 377,50	3403,6%
Financial income	326 862	88,8%	173 098	224,9%	53 285	05	6537140,0%
Financial charges	38 662	-65,6%	112 411	34,0%	83 917	967	3898,1%
Financial profit/loss	288 200	374,9%	60 687	298,1%	-30 632	-626,50	46101,6%
Pretax net operating income	862 004	74,4%	494 331	-11,3%	557 565	14 889,50	5689,3%
Extraordinary income	719 265	922,0%	70 375	179,4%	25 186	0	0%
Extraordinary charges	327 849	82,6%	179 504	5,6%	170 000	90	364176,7%
Extraordinary profit/loss	391 416	767,2%	-109 129	24,6%	-144 814	0	0%
Net result	728 146	168,3%	271 350	7,5%	252 305	14 096	5065,6%

Display parameter
Currency	Euro	Kilo Euro

	Normal Account		31/08/2010		31/08/2009		31/08/2008
	Months		12		12		12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/08/2010		31/08/2009		31/08/2008
Grand Total (I to VI)	Net	9 099 985	11,3%	8 176 266	7,3%	7 621 747
Gross	CO	10 526 949	2,4%	10 285 054	9,1%	9 426 371
Amortisation	1A	1 426 964	-32,3%	2 108 788	16,9%	1 804 624

Non declared distributed capital (I)

		31/08/2010		31/08/2009		31/08/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/08/2010		31/08/2009		31/08/2008
Total Active fixed asset (II)	Net	2 056 962	-5,4%	2 174 623	0,3%	2 167 280
Gross	BJ	2 767 383	-20,0%	3 460 821	2,4%	3 378 538
Amortisation	BK	710 421	-44,8%	1 286 198	6,2%	1 211 258

Intangilble fixed assets

			31/08/2010		31/08/2009		31/08/2008
	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	0	0%	869	-90,9%	9 562
	Gross	AF	99 886	-2,7%	102 686	3,3%	99 421
	Amortisation	AG	99 886	-1,9%	101 817	13,3%	89 859
	Goodwill	Net	62 165	0%	62 165	0%	62 165
	Gross	AH	62 165	0%	62 165	0%	62 165
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	62 165	-1,4%	63 034	-12,1%	71 727

Tangilble fixed assets

		31/08/2010		31/08/2009		31/08/2008
Lands	Net	0	0%	25 197	0%	25 197
Gross	AN	0	0%	25 197	0%	25 197
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	108 895	-59,1%	266 394	-10,3%	297 133
Gross	AP	161 427	-81,6%	879 341	1,5%	866 736
Amortisation	AQ	52 532	-91,4%	612 947	7,6%	569 603
Plant	Net	66 458	-36,4%	104 510	50,3%	69 521
Gross	AR	290 883	4,2%	279 175	40,9%	198 157
Amortisation	AS	224 425	28,5%	174 665	35,8%	128 636
Other tangible fixed assets	Net	84 571	27,4%	66 368	-27,1%	91 053
Gross	AT	333 846	13,4%	294 451	-1,8%	299 984
Amortisation	AU	249 275	9,3%	228 083	9,2%	208 931
Fixed assets in construction	Net	0	0%	0	0%	0
Gross	AV	0	0%	0	0%	0
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	259 924		462 469		482 904

Financial assets

		31/08/2010		31/08/2009		31/08/2008
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	1 707 437	5,2%	1 623 054	2,9%	1 577 511
Gross	CU	1 791 740	0%	1 791 740	0%	1 791 740
Amortisation	CV	84 303	-50,0%	168 686	-21,3%	214 229
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	2 000	0%	0	0%	0
Gross	BF	2 000	0%	0	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	25 436	-2,4%	26 066	-25,8%	35 138
Gross	BH	25 436	-2,4%	26 066	-25,8%	35 138
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		1 734 873		1 649 120		1 612 649

Current Assets (III)

		31/08/2010		31/08/2009		31/08/2008
Total Assets	Net	7 043 023	17,4%	6 001 641	10,1%	5 453 404
Gross	CJ	7 759 566	13,7%	6 824 232	12,9%	6 046 769
Amortisation	CK	716 543	-12,9%	822 591	38,6%	593 365

Stocks

		31/08/2010		31/08/2009		31/08/2008
Raw materials	Net	158 375	-35,4%	245 148	-31,6%	358 192
Gross	BL	285 631	-33,6%	430 483	-7,9%	467 393
Amortisation	BM	127 256	-31,3%	185 335	69,7%	109 201
Work in progress (goods)	Net	123 372	76,2%	70 014	-39,5%	115 764
Gross	BN	123 372	76,2%	70 014	-39,5%	115 764
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	0	0%	0
Gross	BP	0	0%	0	0%	0
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	0	0%	0	0%	0
Gross	BR	0	0%	0	0%	0
Amortisation	BS	0	0%	0	0%	0
Goods for resale	Net	2 435 966	11,6%	2 182 337	24,5%	1 752 324
Gross	BT	3 003 550	7,4%	2 796 269	25,9%	2 220 145
Amortisation	BU	567 584	-7,5%	613 932	31,2%	467 821
Sub Total Stocks	Net	2 717 713	8,8%	2 497 499	12,2%	2 226 280

Advance payments to suppliers

		31/08/2010		31/08/2009		31/08/2008
Advance payments to suppliers	Net	143 808	506,4%	23 714	-21,2%	30 092
Gross	BV	143 808	506,4%	23 714	-21,2%	30 092
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/08/2010		31/08/2009		31/08/2008
Trade accounts receivable	Net	2 500 681	-5,2%	2 636 723	4,3%	2 527 815
Gross	BX	2 522 384	-5,2%	2 660 047	4,6%	2 544 158
Amortisation	BY	21 703	-6,9%	23 324	42,7%	16 343
Other debtors	Net	1 500 921	168,0%	560 100	40,1%	399 889
Gross	BZ	1 500 921	168,0%	560 100	40,1%	399 889
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	4 001 602	25,2%	3 196 823	9,2%	2 927 704

Divers

		31/08/2010		31/08/2009		31/08/2008
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	117 494	-44,1%	210 046	-6,6%	224 865
Gross	CF	117 494	-44,1%	210 046	-6,6%	224 865
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	117 494	-44,1%	210 046	-6,6%	224 865

Prepaid expenses

		31/08/2010		31/08/2009		31/08/2008
Prepaid expenses	Net	62 406	-15,2%	73 559	65,4%	44 463
Gross	CH	62 406	-15,2%	73 559	65,4%	44 463
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/08/2010		31/08/2009		31/08/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	1 064
Gross		0	0%	0	0%	1 064

References

		31/08/2010		31/08/2009		31/08/2008
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

			31/08/2010		31/08/2009		31/08/2008
	Grand Total (I to V)	EE	9 099 985	11,3%	8 176 266	7,3%	7 621 748

Shareholder Equity (I)

		31/08/2010		31/08/2009		31/08/2008
Total shareholders' equity (Total I)	DL	5 484 465	15,3%	4 756 320	6,1%	4 484 969
Equity and shareholders' equity	DA	1 188 000	0%	1 188 000	0%	1 188 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	78 800	0%	78 800	0%	78 800
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	3 489 519	8,4%	3 218 170	8,5%	2 965 864
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	0	0%	0	0%	0
Profit or loss for the period	DI	728 146	168,3%	271 350	7,5%	252 305
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/08/2010		31/08/2009		31/08/2008
Total other capital resources (Total II)	DO	125 796	40,1%	89 767	0%	89 767
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	125 796	40,1%	89 767	0%	89 767

Provisions for risks and charges (III)

		31/08/2010		31/08/2009		31/08/2008
Total provisions for risks and charges (Total III)	DR	449 735	-0,6%	452 595	29,4%	349 783
Risk provisions	DP	405 344	-5,6%	429 301	42,4%	301 579
Reserves for charges	DQ	44 391	90,6%	23 294	-51,7%	48 204

Liabilities (IV)

		31/08/2010		31/08/2009		31/08/2008
Total Liabilities (Total IV)	EC	3 039 991	5,6%	2 877 561	6,7%	2 697 204
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	0	0%	145 288	-51,4%	298 909
Sundry loans and financial liabilities	DV	140 770	9,4%	128 675	65,4%	77 785
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	76 282	-28,5%	106 701	188,1%	37 042
Trade accounts payables	DX	1 517 110	6,4%	1 425 247	23,1%	1 158 178
Tax and social security liabilities	DY	1 222 115	44,6%	845 059	-2,0%	862 499
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	83 714	-62,9%	225 716	-14,1%	262 791

Translation loss (V)

			31/08/2010		31/08/2009		31/08/2008
	Translation loss (Total V)	ED	0	0%	22	-8,3%	24

Equalization accounts

			31/08/2010		31/08/2009		31/08/2008
	Deferred income	EB	0	0%	875	0%	0

References

		31/08/2010		31/08/2009		31/08/2008
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

			31/08/2010		31/08/2009		31/08/2008
	Operating result (Total I-II)	GG	573 804	32,3%	433 644	-26,3%	588 197

2 - Financial result (V - VI)

			31/08/2010		31/08/2009		31/08/2008
	Financial result (Total V-VI)	GV	288 200	374,9%	60 687	298,1%	-30 632

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

			31/08/2010		31/08/2009		31/08/2008
	Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	862 004	74,4%	494 331	-11,3%	557 565

4 - Extraordinary result (VII-VIII)

			31/08/2010		31/08/2009		31/08/2008
	Extraordinary result (Total VII-VIII)	HI	391 416	458,7%	-109 129	24,6%	-144 814

Profit or loss

			31/08/2010		31/08/2009		31/08/2008
	Profit or loss	HN	728 146	168,3%	271 350	7,5%	252 305

Total Income (I+III+V+VII)

			31/08/2010		31/08/2009		31/08/2008
	Total Income (I+III+V+VII)	HL	13 514 491	14,9%	11 761 582	6,2%	11 075 869

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

			31/08/2010		31/08/2009		31/08/2008
	Total charges (Total II+IV+VI+VIII+IX+X)	HM	12 786 344	11,3%	11 490 230	6,2%	10 823 563

Operating income (I)

			31/08/2010		31/08/2009		31/08/2008
	Total operating income (Total I)	FR	12 468 364	8,3%	11 518 109	4,7%	10 997 398

Operating income (details)

		31/08/2010		31/08/2009		31/08/2008
Sale of goods for resale	FC	7 716 985	4,7%	7 371 439	7,4%	6 863 267
France	FA	5 266 279	-3,1%	5 432 035	7,5%	5 054 832
Export	FB	2 450 706	26,4%	1 939 404	7,2%	1 808 435
Sale of goods produced	FF	3 546 372	9,6%	3 234 851	5,4%	3 068 493
France	FD	3 130 015	7,7%	2 905 950	2,9%	2 824 794
Export	FE	416 357	26,6%	328 901	35,0%	243 699
Sale of services	FI	257 670	-12,8%	295 372	-13,0%	339 668
France	FG	211 169	-19,3%	261 830	-20,4%	328 901
Export	FH	46 501	38,6%	33 542	211,5%	10 767
Net turnover	FL	11 521 027	5,7%	10 901 662	6,1%	10 271 428
France	FJ	8 607 463	0,1%	8 599 815	4,8%	8 208 527
Export	FK	2 913 564	26,6%	2 301 847	11,6%	2 062 901
Stocked production	FM	53 358	216,6%	-45 750	-146,3%	98 815
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	27 563	1,3%	27 200	-10,9%	30 542
Release of reserves and provisions	FP	831 892	40,1%	593 926	-0,1%	594 377
Other income	FQ	34 524	-15,9%	41 071	1736,8%	2 236

Operating charges (II)

			31/08/2010		31/08/2009		31/08/2008
	Total operating charges (Total II)	GF	11 894 560	7,3%	11 084 465	6,5%	10 409 201

Exploitation charges

		31/08/2010		31/08/2009		31/08/2008
Purchase of goods for resale	FS	4 674 959	-7,5%	5 052 377	18,0%	4 280 812
Change in stocks of goods for resale	FT	-173 059	68,9%	-556 715	-5683,9%	9 970
Purchase of raw materials	FU	649 105	21,0%	536 327	-28,3%	747 860
Change in stocks of raw materials	FV	110 630	532,1%	17 501	173,7%	-23 745
Other external purchases and charges	FW	2 708 898	22,4%	2 213 749	16,3%	1 904 083
Tax, duty and similar payments	FX	161 884	-19,3%	200 489	-8,9%	219 959
Payroll	FY	2 029 056	4,2%	1 946 380	3,1%	1 887 603
Social security costs	FZ	771 764	9,2%	706 458	5,4%	670 240

Depreciation

		31/08/2010		31/08/2009		31/08/2008
Depreciation of fixed assets	GA	102 609	-27,5%	141 454	17,8%	120 060
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	695 647	-14,7%	815 614	40,5%	580 616
Provisions for risks and charges	GD	99 650	0%	0	0%	0

Other charges

			31/08/2010		31/08/2009		31/08/2008
	Other charges	GE	63 417	485,5%	10 831	-7,8%	11 743

Operating charges (III-IV)

		31/08/2010		31/08/2009		31/08/2008
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)

		31/08/2010		31/08/2009		31/08/2008
Total financial income (Total V)	GP	326 862	88,8%	173 098	224,9%	53 285
Share financial income	GJ	21 679	216,5%	6 849	-24,7%	9 090
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	951	-80,6%	4 896	-24,4%	6 475
Released provisions and transferred charges	GM	265 889	95,0%	136 369	317,3%	32 682
Exchange gains	GN	38 343	53,5%	24 984	395,9%	5 038
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/08/2010		31/08/2009		31/08/2008
Total financial charge (Total VI)	GU	38 662	-65,6%	112 411	34,0%	83 917
Financial reserves and provisions	GQ	14 594	-80,1%	73 339	24,6%	58 875
Interest and similar charges	GR	13 013	-58,1%	31 075	83,0%	16 982
Exchange losses	GS	11 055	38,2%	7 997	-0,7%	8 053
Net loss from disposal of investment securities	GT	0	0%	0	0%	07

Financial Charge (VII)

		31/08/2010		31/08/2009		31/08/2008
Total extraordinary income (Total VII)	HD	719 265	922,0%	70 375	179,4%	25 186
Extraordinary operating income	HA	11 928	0%	0	0%	19 279
Extraordinary income from capital transactions	HB	646 338	2837,9%	22 000	272,4%	5 907
Released provisions and transferred charges	HC	60 999	26,1%	48 375	0%	0

Extraordinary charges (VIII)

		31/08/2010		31/08/2009		31/08/2008
Total extraordinary charges (Total VIII)	HH	327 849	82,6%	179 504	5,6%	170 000
Extraordinary operating charges	HE	0	0%	0	0%	0
Extraordinary charges from capital transactions	HF	202 449	983,9%	18 677	0%	0
Extraordinary reserves and provisions	HG	125 400	-22,0%	160 827	-5,4%	170 000

Employee profit sharing (IX)

			31/08/2010		31/08/2009		31/08/2008
	Employee profit sharing (Total IX)	HJ	159 729	296,5%	40 282	-19,2%	49 829

Tax on profits (X)

			31/08/2010		31/08/2009		31/08/2008
	Tax on profits (Total X)	HK	365 544	396,9%	73 568	-33,5%	110 616

References

		31/08/2010		31/08/2009		31/08/2008
Of which equipment leases	HP	0	0%	0	0%	17 233
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	7 395
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)

		31/08/2010		31/08/2009		31/08/2008
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	786 723	1484,5%	49 650	-46,5%	92 815
Gross value at the end of period	OL	2 767 383	-20,0%	3 460 822	2,4%	3 378 539

Research and development Charge (Total I)

		31/08/2010		31/08/2009		31/08/2008
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)

		31/08/2010		31/08/2009		31/08/2008
Gross value at begin of period	KD	164 851	2,0%	161 586	7,6%	150 207
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	3 265	-71,3%	11 379
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	2 800	0%	0	0%	0
Gross value at the end of period	LW	162 051	-1,7%	164 851	2,0%	161 586

Tangible fixed assets (Total III)

		31/08/2010		31/08/2009		31/08/2008
Gross value at begin of period	LN	1 478 165	6,3%	1 390 075	5,2%	1 320 929
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	91 284	-28,5%	127 740	-20,2%	160 110
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	783 294	1875,5%	39 650	-56,4%	90 965
Gross value at the end of period	NH	786 155	-46,8%	1 478 165	6,3%	1 390 074

Fiancial assets (Total IV)

		31/08/2010		31/08/2009		31/08/2008
Gross value at begin of period	LQ	1 817 807	-0,5%	1 826 878	1,6%	1 798 566
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	2 000	115,3%	929	-96,9%	30 162
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	630	-93,7%	10 000	440,5%	1 850
Gross value at the end of period	NK	1 819 177	0,1%	1 817 807	-0,5%	1 826 878

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

			31/08/2010		31/08/2009		31/08/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/08/2010		31/08/2009		31/08/2008
	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)

			31/08/2010		31/08/2009		31/08/2008
	Reserve for depreciation value at begin of period	PE	101 816	13,3%	89 859	2,1%	88 042
Increases		PF	869	-92,7%	11 957	558,1%	1 817
Decreasess		PG	2 800	0%	0	0%	0
	Decreasess by budget item transfer	PH	99 885	-1,9%	101 816	13,3%	89 859

Total fixed assets amotisation (Total III)

			31/08/2010		31/08/2009		31/08/2008
	Reserve for depreciation value at begin of period	QU	1 015 696	12,0%	907 172	11,1%	816 651
Increases		QV	101 739	-21,4%	129 497	9,5%	118 243
Decreases		QW	591 202	2718,9%	20 973	-24,4%	27 724
	Decreasess by budget item transfer	QX	526 233	-48,2%	1 015 696	12,0%	907 170

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

			31/08/2010		31/08/2009		31/08/2008
	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

			31/08/2010		31/08/2009		31/08/2008
	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)

			31/08/2010		31/08/2009		31/08/2008
	Value at begining of period	7C	1 443 872	24,8%	1 157 377	21,5%	952 890
Increases		UB	935 291	-11,1%	1 051 669	29,9%	809 491
Decreases		UC	1 128 582	47,5%	765 174	26,5%	605 004
	Value at the end of period	UD	1 250 581	-13,4%	1 443 872	24,8%	1 157 377

Includes Total allocations

Operating	UE	795 296	-2,5%	815 614	40,5%	580 616
Financial	UG	14 594	-80,6%	75 229	27,8%	58 875
Exceptional	UJ	125 400	-22,0%	160 827	-5,4%	170 000

Includes Total Withdrawal

Operating	UF	801 694	38,6%	578 539	-4,4%	605 004
Financial	UH	265 889	92,3%	138 259	0%	0
Exceptional	UK	60 999	26,1%	48 375	0%	0

Total regulated provisions (Total I)

			31/08/2010		31/08/2009		31/08/2008
	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)

			31/08/2010		31/08/2009		31/08/2008
	Value at begining of period	5Z	452 595	29,4%	349 783	53,9%	227 285
Increases		TV	239 644	-1,7%	243 904	6,6%	228 875
Decreases		TW	242 504	71,9%	141 091	32,6%	106 377
	Value at the end of period	TX	449 735	-0,6%	452 596	29,4%	349 783

Total Provision for depreciation (Total III)

			31/08/2010		31/08/2009		31/08/2008
	Value at begining of period	7B	991 277	22,7%	807 594	11,3%	725 606
Increases		TY	695 647	-13,9%	807 766	39,1%	580 616
Decreases		TZ	886 077	42,0%	624 082	25,2%	498 628
	Value at the end of period	UA	800 847	-19,2%	991 278	22,7%	807 594

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

		31/08/2010		31/08/2009		31/08/2008
Gross value	VT	4 113 148	23,9%	3 319 773	9,8%	3 023 647
1 year at most	VU	4 059 127	24,4%	3 263 549	9,9%	2 969 827
More than one year	VV	54 021	-3,9%	56 224	4,5%	53 820

State of loans

		31/08/2010		31/08/2009		31/08/2008
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	2 000	0%	0	0%	0
Loans (1 year at most)	UR	2 000	0%	0	0%	0
Other financial assets (gross)	UT	25 436	-2,4%	26 066	-25,8%	35 138
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/08/2010		31/08/2009		31/08/2008
Customers doubtful or disputed	VA	24 585	-6,0%	26 158	40,0%	18 682
Other claims customer	UX	2 497 800	-5,2%	2 633 889	4,3%	2 525 477
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	32 050	107,1%	15 479	-35,6%	24 030
Social Security and other social organizations	UZ	0	0%	897	0%	0
Income taxes	VM	119 844	26,1%	95 011	19,5%	79 505
Value added tax	VB	64 259	4,1%	61 754	10,3%	56 008
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	39 393	0%	0
Group and Associates	VC	1 249 082	266,9%	340 442	42,3%	239 240
Accounts receivable (including claims relating to the operation of pension titles)	VR	35 686	400,9%	7 124	544,1%	1 106

Prepaid

			31/08/2010		31/08/2009		31/08/2008
	Prepaid	VS	62 406	-15,2%	73 559	65,4%	44 463

State Debt

			31/08/2010		31/08/2009		31/08/2008
	Total debt (gross)	VY	2 963 709	7,0%	2 770 861	4,2%	2 660 162
1 year at most		VZ2	2 827 839	6,2%	2 662 847	9,3%	2 437 249
More than 1 year and 5 years at most		VZ3	135 870	25,8%	108 014	-51,5%	222 913
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/08/2010		31/08/2009		31/08/2008
	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%	379
1 year at most		VG2	0	0%	0	0%	379
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%	145 288	-51,3%	298 530
1 year at most		VH2	0	0%	145 288	-5,3%	153 401
More than 1 year and 5 years at most		VH3	0	0%	0	0%	145 129
	Loans and various financial liabilities (gross)	8A1	140 770	9,4%	128 675	65,4%	77 785
1 year at most		8A2	4 900	-76,3%	20 661	0%	0
More than 1 year and 5 years at most		8A3	135 870	25,8%	108 014	38,9%	77 785
	Suppliers and associated accounts (gross)	8B1	1 517 110	6,4%	1 425 247	23,1%	1 158 178
1 year at most		8B2	1 517 110	6,4%	1 425 247	23,1%	1 158 178
More than 1 year and 5 years at most		8B3	1 517 110	6,4%	1 425 247	23,1%	1 158 178
	Personnel and associated accounts (gross)	8C1	500 668	22,2%	409 602	4,0%	393 746
1 year at most		8C2	500 668	22,2%	409 602	4,0%	393 746
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	257 014	4,8%	245 259	44,5%	169 741
1 year at most		8D2	257 014	4,8%	245 259	44,5%	169 741
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	358 953	1281,2%	25 989	-64,3%	72 845
1 year at most		8E2	358 953	1281,2%	25 989	-64,3%	72 845
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	22 004	-25,1%	29 381	-73,0%	108 818
1 year at most		VW2	22 004	-25,1%	29 381	-73,0%	108 818
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	83 475	-38,1%	134 827	14,9%	117 349
1 year at most		VQ2	83 475	-38,1%	134 827	14,9%	117 349
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	58 778	-70,4%	198 534	-11,2%	223 544
1 year at most		VI2	58 778	-70,4%	198 534	-11,2%	223 544
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	24 936	-8,3%	27 182	-30,7%	39 247
1 year at most		8K2	24 936	-8,3%	27 182	-30,7%	39 247
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%	875	0%	0
1 year at most		8L2	0	0%	875	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/08/2010		31/08/2009		31/08/2008
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	187 347	22,1%	153 402	0%	0

Table allocation results and other information
Dividends distributed

			31/08/2010		31/08/2009		31/08/2008
	Dividends	ZE	0	0%	0	0%	0

Commitments

		31/08/2010		31/08/2009		31/08/2008
Commitments leasing furniture	YQ	174 238	161,3%	66 688	-45,6%	122 635
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

		31/08/2010		31/08/2009		31/08/2008
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

		31/08/2010		31/08/2009		31/08/2008
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

		31/08/2010		31/08/2009		31/08/2008
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

			31/08/2010		31/08/2009		31/08/2008
	Average number of employees	YP	49	0%	49	-2,0%	50

Groups and Shareholders

			31/08/2010		31/08/2009		31/08/2008
	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

	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Fixed Asset Financing	2,50	26,3%	1,98	2,6%	1,93	1,38	81,2%
Global Debt	95 days	0%	95 days	0%	95 days	97 days	-2,1%
Working Capital Fund overall net	129 days	15,2%	112 days	1,8%	110 days	54 days	138,9%
Financial independence	%	-	3273,72%	118,2%	1500,45%	258,32%	-
More ratios
Solvability	61,65%	4,0%	59,27%	-1,2%	60,02%	46,59%	32,3%
Capacity debt futures	%	-	3273,72%	12,2%	2916,48%	1203,93%	-
Coverage of current assets by net working capital overall	53,84%	7,0%	50,34%	-3,6%	52,21%	47,17%	14,1%
General Liquidity	1,44	17,1%	1,23	0,8%	1,22	0,62	132,3%
Restricted Liquidity	1,48	13,8%	1,30	-0,8%	1,31	1,20	23,3%

Management or rotation

	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Need background in operating working capital	124 days	20,4%	103 days	3,0%	100 days	6 days	1966,7%
Treasury	4 days	-42,9%	7 days	-12,5%	8 days	3 days	33,3%
Inventory turnover of goods	240 days	7,1%	224 days	20,4%	186 days	73 days	228,8%
Average length of credit granted to customers	79 days	-10,2%	88 days	-1,1%	89 days	40 days	97,5%
Average length of credit obtained suppliers	69 days	-2,8%	71 days	18,3%	60 days	40 days	72,5%
More ratios
Inventory turnover of raw materials in industrial enterprises	33 days	-47,6%	63 days	-4,5%	66 days	64 days	-48,4%
Inventory turnover of intermediate and finished products in the industrial enterprise	1465 days	98,5%	738 days	-0,1%	739 days	398 days	268,1%
Rotation tangible assets	1465,49%	98,7%	737,51%	-0,2%	738,91%	403,66%	263,1%

Profitability of the business

	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Margin trading	27,91%	5,8%	26,38%	5,3%	25,05	0%	0%
Profitability of the business	5,80	-17,5%	7,03	2,6%	6,85	8,63%	-32,8%
Net profit	6,32%	153,8%	2,49%	1,2%	2,46%	4,92%	28,5%
More ratios
Growth rate of turnover (excluding VAT)	5,68%	-7,5%	6,14%	714,0%	-1%	3%	89,3%
Rates integration	31,28%	-5,1%	32,96%	-1,9%	33,60%	62,64%	-50,1%
Rate leasing furniture	0%	0%	0%	0%	0,17%	0%	0%
Work Factor	77,72%	5,3%	73,84%	-0,4%	74,11%	78,22%	-0,6%
Weight interests	0,34	-67,0%	1,03%	25,6%	0,82%	0,35%	-2,9%

Return on capital

	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Cash flow from the overall profitability	-5,22%	-370,3%	-1,11%	-1133,3%	-0,09%	8,05%	-164,8%
Rates of economic profitability	12%	-20,0%	15%	7,1%	14%	23%	-47,8%
Financial profitability	5610261%	15,8%	4846087%	5,9%	4574736%	21439,50%	26067,9%
Return on investment	13,33%	77,7%	7,50%	10,5%	6,79%	15,47%	-13,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/08/2010		31/08/2009		31/08/2008	Sector Median 2010
Turnover	11 521 027	5,7%	10 901 662	6,1%	10 271 428	263 912 €	4265,5%

Sales of goods	7 716 985	4,7%	7 371 439	7,4%	6 863 267
- Purchase of goods	4 674 959	-7,5%	5 052 377	18,0%	4 280 812
+/- Stock of goods variation	-173 059	68,9%	-556 715	-5683,9%	9 970
Trading margin	3 215 085 €	11,8%	2 875 777 €	11,8%	2 572 485 €	0 €	0%
	27,91 % CA	5,8%	26,38 % CA	5,3%	25,05 % CA	0 % CA	0%

Sale of goods produced	3 804 042	7,8%	3 530 223	3,6%	3 408 161
+/- Stocked production	53 358	216,6%	-45 750	-146,3%	98 815
+ Self-constructed assets	0	0%	0	0%	0
Period production	3 857 400 €	10,7%	3 484 473 €	-0,6%	3 506 976 €	230 356 €	1574,5%
	33,48 % CA	4,8%	31,96 % CA	-6,4%	34,14 % CA	100 % CA	-66,5%

Trading margin	3 215 085	11,8%	2 875 777	11,8%	2 572 485	0	0%
+ Period Production	3 857 400	10,7%	3 484 473	-0,6%	3 506 976	230 356	1574,5%
- Purchase of raw materials	649 105	21,0%	536 327	-28,3%	747 860
+/- Change in stocks of raw materiels	110 630	532,1%	17 501	173,7%	-23 745
- Other external purchases and charges	2 708 898	22,4%	2 213 749	16,3%	1 904 083
Added value	3 603 852 €	0,3%	3 592 673 €	4,1%	3 451 263 €	159 256,50 €	2162,9%
	31,28 % CA	-5,1%	32,96 % CA	-1,9%	33,60 % CA	62,61 % CA	-50,0%

Added value	3 603 852 €	0,3%	3 592 673 €	4,1%	3 451 263 €	159 256,50 €	2162,9%
+ Operating grants	27 563	1,3%	27 200	-10,9%	30 542
- Tax, duty and similar payments	161 884	-19,3%	200 489	-8,9%	219 959
- Personal charges	2 800 820	5,6%	2 652 838	3,7%	2 557 843
Gross operating surplus	668 711 €	-12,8%	766 546 €	8,9%	704 003 €	22 920,50 €	2817,5%
	5,80 % CA	-17,5%	7,03 % CA	2,6%	6,85 % CA	8,63 % CA	-32,8%

Gross operating surplus	668 711 €	-12,8%	766 546 €	8,9%	704 003 €	22 920,50 €	2817,5%
+ Release of reserves and provisions	831 892	40,1%	593 926	-0,1%	594 377
+ Other operating income	34 524	-15,9%	41 071	1736,8%	2 236
- Depreciation/Amortisation	897 906	-6,2%	957 068	36,6%	700 676
- Other charges	63 417	485,5%	10 831	-7,8%	11 743
Operating result	573 804 €	32,3%	433 644 €	-26,3%	588 197 €	16 345 €	3410,6%
	4,98 % CA	25,1%	3,98 % CA	-30,5%	5,73 % CA	6,25 % CA	-20,3%

Operating result	573 804 €	32,3%	433 644 €	-26,3%	588 197 €	16 345 €	3410,6%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	326 862	88,8%	173 098	224,9%	53 285
- Financial charges	38 662	-65,6%	112 411	34,0%	83 917
Pre-tax result	862 004 €	74,4%	494 331 €	-11,3%	557 565 €	14 851,50 €	5704,2%
	7,48 % CA	65,1%	4,53 % CA	-16,6%	5,43 % CA	5,69 % CA	31,5%

Extraordinary income	719 265	922,0%	70 375	179,4%	25 186	0	0%
- Extraordinary charges	327 849	82,6%	179 504	5,6%	170 000
Extraordinary result	391 416 €	458,7%	-109 129 €	24,6%	-144 814 €	0 €	0%
	3,40 % CA	440,0%	-1,00 % CA	29,1%	-1 % CA	0 % CA	0%

Pre-tax result	862 004 €	74,4%	494 331 €	-11,3%	557 565 €	14 851,50 €	5704,2%
Extraordinary result	391 416 €	458,7%	-109 129 €	24,6%	-144 814 €	0 €	0%
- Employee profit sharing	159 729	296,5%	40 282	-19,2%	49 829
- Tax on profits	365 544	396,9%	73 568	-33,5%	110 616
Net result	728 147 €	168,3%	271 352 €	7,5%	252 306 €	14 077,50 €	5072,4%
	6,32 % CA	153,8%	2,49 % CA	1,2%	2,46 % CA	4,91 % CA	28,7%

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Establishment details

Activity (APE)	Fabrication de matériel médico-chirurgical et dentaire (3250A)	Business Pages FT®
Postal Address	LANDANGER 13 AV DE LA REPUBLIQUE 75011 PARIS 11	Trading Address	13 AVENUE DE LA REPUBLIQUE 75011 PARIS 11
Telephone	01 49 29 50 70
Fax	01 49 29 50 71

Type	Head office	Status	Economically active
Formation Date	03/2005	Reason for formation	Purchase
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Paris (75)	Region	Ile-de-France
District	1	Area	99
City	PARIS 11	Size of urban area	Paris conglomeration

Other establishments

	Branches	2 branch entities in this company


	Head office	> LANDANGER <<< - Fabrication de matériel médico-chirurgical et dentaire (3250A) in PARIS 11 (75011)

	Secondary establishments	> LANDANGER - Fabrication de matériel médico-chirurgical et dentaire (3250A) in CHAUMONT (52000) > LANDANGER - Fabrication de matériel médico-chirurgical et dentaire (3250A) in CHAUMONT (52000)

	Regionality	Legal unit with multiple establishments in many areas having at least 80% 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

0 employee

Company workforce

20 to 49 employees

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
17/01/2012	Bodacc A	Vente et cession : Vendeur

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 763 - 530 696 624 RCS Paris. DELACROIX CHEVALIER. Forme : Société par actions simplifiée à associé unique. Capital : 20000 EUR. Adresse : 13 avenue de la République, 75011 Paris. Origine du fonds : Fonds acquis par achat au prix stipulé de 750000,00 euros. Etablissement : Etablissement principal. Activité : Un fonds de commerce se rapportant à l'activité de vente, à l'étranger, des produits de la gamme Delacroix-Chevalier et de la gamme Landanger et la marque Delacroix-Chevalier. Adresse : 13 avenue de la République, 75011 Paris. Précédent propriétaire : LANDANGER. 411 501 695 RCS Paris. Date de commencement de l’activité : 01/04/2011. Publication légale : Quotidien Juridique du 06/01/2012. Oppositions : Au fonds cédé 13 avenue de la République 75011 Paris pour la validité. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
06/01/2012	JAL	Activity or goodwill cession

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 23/12/2011 Cédant : 411501695 - LANDANGER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Cessionnaire : 530696624 - DELACROIX CHEVALIER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Prix de vente : 750000 € trDate d’effet : 01/04/2011
02/01/2012	Bodacc C	Comptes annuels et rapports

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8479 - 411501695 RCS. LANDANGER. Forme : Société anonyme. Adresse : 13 avenue de la République 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2010.
05/08/2011	Bodacc B	Modification et mutation diverse

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 702 - 411 501 695 RCS Paris. LANDANGER. Forme : Société anonyme. Administration : Président directeur général partant : Landanger, Patrick, nomination du Président du conseil d'administration et Directeur général : Landanger, Benoît, Directeur général délégué et Administrateur partant : Landanger, Benoît, nomination de l'Administrateur : Landanger, Patrick. Capital : 1188000 EUR. Activité : . Adresse du siège social : 13 avenue de la République, 75011 Paris. Commentaires : modification survenue sur l'administration.
05/07/2011	Bodacc B	Modification et mutation diverse

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1942 - 411 501 695 RCS Paris. LANDANGER. Forme : Société anonyme. Administration : nomination de l'Administrateur : Rajchowiak, nom d'usage : Vinter, Marie-Claire, nomination de l'Administrateur : Deblaize, Didier. Capital : 1188000 EUR. Activité : . Adresse du siège social : 13 avenue de la République, 75011 Paris. Commentaires : modification survenue sur l'administration.
25/05/2011	JAL	Appointment of the social representative

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Société faisant l'objet d'une nomination : 411501695 - LANDANGER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Nominé : Monsieur Didier DEBLAIZE, 6 Rue Praigney, 52000 VILLIERS LE SEC En la fonction de : Administrateur Nominé : Madame Marie-Claire VINTER, 8B Rue de la Suize, 52000 CHAUMONT En la fonction de : Administrateur Date d'effet : 14/11/2011
25/05/2011	JAL	Resignation / Revocation of the social representative

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 14/03/2011 La société 411501695 - LANDANGER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Fait l'objet du départ de Date d'effet : 01/04/2011
07/04/2011	Bodacc B	Modification et mutation diverse

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 813 - 411 501 695 RCS Paris. LANDANGER. Forme : Société anonyme. Administration : modification du Directeur général délégué et Administrateur Landanger, Benoît, Administrateur partant : Camus, nom d'usage : Landanger, Renee, Administrateur partant : Landanger, Louis Marie Jean. Capital : 1188000 EUR. Activité : . Adresse du siège social : 13 avenue de la République, 75011 Paris. Commentaires : modification survenue sur l'administration.
31/01/2011	Bodacc C	Comptes annuels et rapports

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7332 - 411501695 RCS. LANDANGER. Forme : Société anonyme. Adresse : 13 AV DE LA REPUBLIQUE 75011 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2009.
03/01/2011	JAL	Appointment of the social representative

Affiches parisiennes (Les) Société faisant l'objet d'une nomination : 411501695 - LANDANGER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Nominé : Monsieur Benoît LANDANGER, 29 Rue Fontenis, 21490 RUFFEY LES ECHIREY En la fonction de : Administrateur Date d'effet : 27/02/2009
03/01/2011	JAL	Resignation / Revocation of the social representative

Affiches parisiennes (Les) Date de décision : 27/02/2009 La société 411501695 - LANDANGER, 13 AV DE LA REPUBLIQUE, 75011 PARIS 11 Fait l'objet du départ de Date d'effet : 27/02/2009
05/02/2010	Bodacc C	Comptes annuels et rapports

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2674 - 411501695 RCS. LANDANGER. Forme : Société anonyme. Adresse : 13 AV DE LA REPUBLIQUE 75011 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2008.
23/01/2009	Bodacc C	Comptes annuels et rapports

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 6728 - 411501695 RCS. LANDANGER. Forme : Société anonyme. Adresse : 13 avenue de la République 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2007.
12/01/2009	Bodacc C	Comptes annuels et rapports

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7432 - 411501695 RCS. LANDANGER. Forme : Société anonyme. Adresse : 13 avenue de la République 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2006.
09/07/2008	Bodacc B	Modification et mutation diverse

75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 848 - 411 501 695 RCS paris. LANDANGER. Forme : Société anonyme. Capital : 1188000 EUR. Adresse du siège social : 13 avenue de la République, 75011 Paris. Commentaires : modification survenue sur le capital (augmentation).
17/04/2008	Bodacc B	Modification et mutation diverse

52 - HAUTE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CHAUMONT 342 - 411 501 695 RCS Chaumont. LANDANGER. Forme : Société anonyme. Adresse de l’établissement principal : Zone Industrielle la Vendue, 52000 Chaumont. Commentaires : Transfert de l'établissement principal.
03/10/2007	Bodacc B	Modifications et mutations diverses

1574 - RCS Paris B 411 501 695. RC 05-B 20929. LANDANGER. Forme : S.A. Capital : 788 000 euros. Adresse du siège social : 13 avenue de la République,, 75011 Commentaires : modification survenue sur l'administration. Administration : nomination d'un directeur général délégué : LANDANGER (Benoît).
13/09/2006	Bodacc B	Modifications et mutations diverses

0970 - RCS Paris B 411 501 695. RC 05-B 20929. LANDANGER. Forme : S.A. Capital : 488 000 euros. Adresse du siège social : 13 avenue de la République,, 75011 Administration : nomination du P.-D.G. : LANDANGER (Patrick). Nomination d'administrateurs : LANDANGER (Eric) CAMUS (Renée) (Nom d'usage : LANDANGER) LANDANGER (Louis, Marie, Jean). Nomination d'un commissaire aux comptes titulaire : STE AUDIT ET CONSEIL UNION. Nomination d'un commissaire aux comptes suppléant : STE SOGEC. Etablissement principal - Activité : conception, fabrication, réparation et commercialisation de tous instruments de chirurgie. Adresse : 9 boulevard du Maréchal-de-Lattre-de-Tassigny, 52000 Commentaires : modification survenue sur l'activité et l'administration. Cette société transfère son siège social dans un établissement déjà existant, avec maintien de l'établissement principal hors ressort. Date de début d'activité : 1er avril 1997. Date d'effet : 1er avril 2006.
04/08/2006	Bodacc B	Modifications et mutations diverses

0834 - RCS Chaumont B 411 501 695. RC 97-B 30. LANDANGER. Forme : S.A. Adresse du siège social : 9 boulevard du Maréchal-de-Lattre-de-Tassigny,, 52000 Commentaires : modification survenue sur l'administration. Administration : président directeur général : LANDANGER (Patrick) (Nom d'usage : LANDANGER). Directeur général délégué : LANDANGER (Benoît) (Nom d'usage : LANDANGER). Administrateurs : LANDANGER (Eric) (Nom d'usage : LANDANGER) CAMUS (Renée) (Nom d'usage : LANDANGER) LANDANGER (Louis, Marie, Jean) (Nom d'usage : LANDANGER). Commissaire aux comptes titulaire : STE AUDIT ET CONSEIL UNION. Commissaire aux comptes suppléant : STE SOGEC. Date d'effet : 1er mars 2006.
28/04/2006	Bodacc B	Modifications et mutations diverses

1464 - RCS Chaumont B 411 501 695. RC 97-B 30. LANDANGER. Forme : S.A. Capital : 788 000 euros. Adresse du siège social : 9 boulevard du Maréchal-de-Lattre-de-Tassigny,, 52000 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 30 décembre 2005.
24/01/2006	Bodacc C	Avis de dépôt des comptes

3147 - RCS Chaumont B 411 501 695. RC 97-B 30. LANDANGER. Forme: S.A. Adresse du siège social: 9, boulevard du Maréchal de Lattre de Tassigny,52000 Chaumont. Comptes annuels et rapports de l'exercice clos le: 31 août 2004.
10/03/2002	Bodacc B	Modifications et mutations diverses

RCS Chaumont B 411501695 RC 97-B 30 LANDANGER. Forme : S.A. Capital : 488 000 euros. Adresse du siège social : 9 boulevard du Maréchal-de-Lattre-de- Tassigny, 52000 Chaumont. Commentaires : modification survenue sur le capital ( augmentation et conversion en euros) et l'administration. Administration : P.-D.G. LANDANGER (Patrick) ( Nom d'usage : LANDANGER). Administrateurs : LANDANGER (Eric) ( Nom d'usage : LANDANGER) CAMUS (Renée) ( Nom d'usage : LANDANGER) LANDANGER (Louis, Marie, Jean) ( Nom d'usage : LANDANGER). Commissaire aux comptes titulaire : STE AUDIT ET CONSEIL UNION. Commissaire aux comptes suppléant : STE SOGEC. Date d'effet : 5 janvier 2002.
14/04/1998	Bodacc B	Modifications et mutations diverses

Ancienne situation du siège social. RCS RCS Chaumont B 411 501 695 RC RC 97-B 30 LANDANGER. Forme : S.A.R.L. Capital : 3 195 000 F (fixe). Adresse : 9, boulevard du Maréchal-de-Lattre-de-Tassigny 52000 Chaumont Nouvelle situation du siège social. Forme : S.A. Administration : nomination en qualité de président du conseil d'administration et administrateur : LANDANGER (Patrick) Nomination en qualité d'administrateurs LANDANGER (Eric) LANDANGER (Renée) LANDANGER (Louis). Date d'effet : 31 décembre 1997.
17/03/1998	Bodacc B	Modifications et mutations diverses

Ancienne situation du siège social. RCS Chaumont B 411 501 695 RC 97-B 30 LANDANGER. Forme : S.A.R.L. Capital : 2 195 000 F. Adresse : 9 boulevard du Maréchal- de-Lattre-de-Tassigny 52000 Chaumont Nouvelle situation du siège social. Capital : 3 195 000 F. Date d'effet : 23 décembre 1997.
28/08/1997	Bodacc A	Création d'établissement

RCS Chaumont B 411 501 695 RC 97-B 30 LANDANGER. Forme : S.A.R.L. Capital : 2 195 000 F. Adresse du siège social : 9 boulevard du Maréchal-de-Lattre-de- Tassigny 52000 Chaumont Etablissement principal: Adresse : 9 boulevard du Maréchal-de-Lattre-de-Tassigny 52000 Chaumont. Activité : conception, fabrication, réparation et commercialisation de tous instruments de chirurgie Branche d'activité acquise par apport au montant évalué à 1 095 000 F. Commentaires : ancien capital : 1 100 000 F Date de début d'activité: 1er avril 1997. Précédent propriétaire : S.A. LANDANGER-LANDOS. RCS B 378 761 803 Publication légale: La Croix de la Haute-Marne du 10 mai 1997 déclaration de créances: au tribunal de commerce de Chaumont.
03/08/1997	Bodacc B	Modifications et mutations diverses

RCS Chaumont B 411 501 695 RC 97-B 300 LANDANGER. Forme : S.A.R.L. Capital : 2 195 000 F (fixe). Adresse du siège social : 9 boulevard du Maréchal-de- Lattre-de-Tassigny, 52000 Chaumont. Administration : nomination en qualité de commissaire aux comptes titulaire de la société AUDIT ET CONSEIL UNION nomination en qualité de commissaire aux comptes suppléant de la société SOGEC. Date d'effet : 16 avril 1997.
06/06/1997	Bodacc A	Création d'établissement

RCS B 411 501 695 A dater du: 3 avril 1997 RC 97-B 30 LANDANGER. Forme : S.A.R. L. Capital : 1 100 000 F (fixe). Adresse du siège social : 9 boulevard du Maréchal-de-Lattre-de-Tassigny, 52000 Chaumont. Administration : gérant : LANDANGER (Patrick) Cette société se constitue Cette société se constitue, mais n'exploite provisoirement aucun établissement.

Company events history

Date	Description
17/01/2012	Bodacc A : Sale and transfer
02/01/2012	Bodacc C : Deposit accounts notice
23/12/2011	Legal Gazette: Activity or goodwill cession
16/12/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
14/11/2011	Legal Gazette: Appointment of the social representative
05/08/2011	Bodacc B: Various editing or changing
21/07/2011	Changes to the Board of Directors
21/07/2011	Minutes of Board meeting
21/07/2011	New chairman (CEO, CoB)
05/07/2011	Bodacc B: Various editing or changing
20/06/2011	Changes to the Board of Directors
20/06/2011	Minutes of general meeting of shareholders
25/05/2011	Legal Gazette: Resignation / Revocation of the social representative
07/04/2011	Bodacc B: Various editing or changing
23/03/2011	Minutes of general meeting of shareholders
23/03/2011	Changes to the Board of Directors
31/01/2011	Bodacc C : Deposit accounts notice
03/01/2011	Legal Gazette: Resignation / Revocation of the social representative
31/08/2010	New accounts available
05/02/2010	Bodacc C : Deposit accounts notice
31/08/2009	New accounts available
27/02/2009	Legal Gazette: Appointment of the social representative
23/01/2009	Bodacc C : Deposit accounts notice
12/01/2009	Bodacc C : Deposit accounts notice
31/08/2008	New accounts available
09/07/2008	New Bodacc B ads detected
09/07/2008	Bodacc B: Various editing or changing
23/06/2008	Collection of preferential rights activated for this company
17/04/2008	Bodacc B: Various editing or changing
20/03/2008	Audit or Management Report
20/03/2008	Rapport des Commissaires ou du Gérant
20/03/2008	Updated articles of association
20/03/2008	Statuts mis à jour
20/03/2008	Minutes of Board meeting
20/03/2008	PV du Conseil d'Administration
20/03/2008	Minutes of general meeting of shareholders
20/03/2008	PV d'Assemblée
20/03/2008	Private document
20/03/2008	Augmentation de Capital
20/03/2008	Capital increase
08/12/2007	Other modification of Establishment
31/08/2007	New accounts available
31/08/2006	New accounts available
29/06/2006	PV du Conseil d'Administration
29/06/2006	Acte modificatif
29/06/2006	Amendment
29/06/2006	Private document
29/06/2006	Minutes of Board meeting
11/05/2006	Immatriculation suite à transfert
11/05/2006	Secondary registration becomes main registration
11/05/2006	Private document
11/05/2006	PV d'Assemblée
11/05/2006	Minutes of general meeting of shareholders
11/05/2006	Updated articles of association
11/05/2006	Acte modificatif
29/03/2006	Private document
29/03/2006	Capital increase
29/03/2006	PV d'Assemblée
29/03/2006	Updated articles of association
29/03/2006	Minutes of general meeting of shareholders
29/03/2006	Augmentation de Capital
29/03/2006	Minutes of Board meeting
29/03/2006	Statuts mis à jour
29/03/2006	Acte modificatif
29/03/2006	Audit or Management Report
29/03/2006	Rapport des Commissaires ou du Gérant
31/08/2004	New accounts available
31/08/2003	New accounts available
04/02/2002	Acte sous seing privé
04/02/2002	PV du Conseil d'Administration
04/02/2002	Statuts mis à jour
04/02/2002	Modification du Conseil d'Administration
04/02/2002	Conversion du Capital Social en Euros
04/02/2002	Augmentation de Capital
04/02/2002	Acte modificatif
04/02/2002	PV d'Assemblée
19/02/1998	Nomination/démission des organes de gestion
19/02/1998	Acte sous seing privé
19/02/1998	Changement de Forme Juridique sans changement de catégorie
19/02/1998	Rapport des Commissaires ou du Gérant
19/02/1998	Statuts mis à jour
19/02/1998	PV du Conseil d'Administration
19/02/1998	PV d'Assemblée
29/01/1998	PV d'Assemblée
29/01/1998	Statuts mis à jour
29/01/1998	Acte modificatif
29/01/1998	Augmentation de Capital
29/01/1998	Acte sous seing privé
19/01/1998	Acte sous seing privé
19/01/1998	Acte modificatif
19/01/1998	Cession de parts
04/07/1997	Statuts mis à jour
04/07/1997	Acte modificatif
04/07/1997	PV d'Assemblée
04/07/1997	Nomination/démission des organes de gestion
04/07/1997	Cession de parts
04/07/1997	Acte sous seing privé
23/06/1997	Acte sous seing privé
23/06/1997	Nomination/démission des organes de gestion
23/06/1997	PV d'Assemblée
17/06/1997	Acte sous seing privé
17/06/1997	Augmentation de Capital
17/06/1997	Statuts mis à jour
17/06/1997	PV d'Assemblée
17/06/1997	Rapport des Commissaires ou du Gérant
03/04/1997	Acte sous seing privé
03/04/1997	Statuts
03/04/1997	Formation de Société

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.85
UK Pound	1	Rs.77.97
Euro	1	Rs.65.62

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.

REGISTERED NAME & COMPANY SUMMARY

CREDIT RECOMENDATION

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

Summary of preferential rights

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

NOTES & COMMENTS

Unit