MIRA INFORM REPORT

Report Date :

30.10.2012

IDENTIFICATION DETAILS

Name :	MAURER CARPETS FRANCE
Registered Office :	Parc D'activites Du Pays D'erstein, 4 Rue De Nairobi, 67150 Erstein
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	June 2007
Com. Reg. No.:	RCS Strasbourg B 498 7881
Legal Form :	Simplified Joint Stock Company
Line of Business :	Wholesale (intercompany trade) of furniture, carpets and lighting equipment
No. of Employees :	06 to 09 employees

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
France	A2	A2

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

fRANCE - ECONOMIC OVERVIEW

France was transitioning from an economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms but is in the midst of a euro-zone crisis. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011. Lower-than-expected growth and increased unemployment have cut government revenues and increased borrowing costs, contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011, while France's public debt rose from 68% of GDP to 86% over the same period. Under President SARKOZY, Paris implemented austerity measures that eliminated tax credits and froze most government spending in an effort to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt levels. Socialist Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, as well as measures such as forcing banks to separate their traditional deposit taking and lending activities from more speculative businesses, increasing taxes on bank profits, introducing a new top bracket on income taxes for people earning over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil servants during his five-year term of office.

Source : CIA

Company summary

Name

MAURER CARPETS FRANCE

SIRET

498 788 173 00025

Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage  (4647Z)
RCS Registration	RCS Strasbourg B 498 788 173	Share capital	37,000 Euros
Registration Court	Strasbourg (67)	Legal form	Simplified joint stock company
Court Registry Number	07 B 01539	EUR VAT Number	FR45498788173
Incorporation Date	07/2007	Formation Date	06/2007
Deregistration Date		Last account Date	31/12/2010
Nationality	France

		EUR VAT Number	FR45498788173
Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage (4647Z) Wholesale (intercompany trade) of furniture, carpets and lighting equipment (4647Z)	Legal form	Simplified joint stock company
Phone		RCS Registration	RCS Strasbourg B 498 788 173
Fax		Share capital	37,000 Euros
Address	MAURER CARPETS FRANCE PARC D'ACTIVITES DU PAYS D'ERSTEIN 4 RUE DE NAIROBI 67150 ERSTEIN	Incorporated Date	07/2007
Nationality	France	Status	Economically active

This company is not under monitoring

Current Directors

1

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	9,466,336 €	6,342,977 €	4,925,144 €
Gross Operating Surplus	4,93 % Turnover	14,16 % Turnover	13,66 % Turnover
Shareholders’ equity	1,081,290 €	916,969 €	440,063 €
Net result	164,321 €	476,906 €	279,769 €
Employees	6 to 9 employees	-	-

Trends
Profitability
Liquidity
Net worth

Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage  (4647Z)	Business Pages FT®
Postal Address	MAURER CARPETS FRANCE  PARC D'ACTIVITES DU PAYS D'ERSTEIN  4 RUE DE NAIROBI  67150 ERSTEIN	Trading Address	4 RUE DE NAIROBI  67150 ERSTEIN
Telephone
Fax

Type	Head office	Status	Economically active
Formation Date	05/2009	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Bas-Rhin (67)	Region	Alsace
District		Area
City	ERSTEIN	Size of urban area

Branches	1 branch entities in this company
Head office	> MAURER CARPETS FRANCE <<<  - Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage (4647Z)  in ERSTEIN  (67150)
Secondary establishments	>  MAURER CARPETS FRANCE  - Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage (4647Z)  in HUTTENHEIM  (67230)

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

Workforce at address

3 to 5 employees

Company workforce

6 to 9 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	23/03/2012	13/05/2011	13/05/2011
Activity Code	4647Z	4647Z	4647Z
Employees	0	0	0

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	265 524	42,8%	185 890	82,9%	101 609	20 091	1221,6%
- Intangible assets	79 290	2,0%	77 752	-5,1%	81 968	0	0%
- Tangible assets	175 470	62,3%	108 138	450,6%	19 641	8 695	1918,1%
- Financial assets	10 764	0%	0	0%	0	1 277	742,9%
Net current assets	2 627 512	57,3%	1 670 815	27,8%	1 307 774	211 994	1139,4%
- Stocks	1 717 219	191,1%	589 938	-7,5%	637 747	44 039	3799,3%
- Advanced payments	18 476	57,3%	12 644	76,2%	7 176	0	0%
- Receivables	881 091	8,0%	815 646	53,2%	532 444	68 139	1193,1%
- Securities and cash	10 726	-95,8%	252 587	93,7%	130 407	21 019	-49,0%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	840	59,4%	527	0%	0	0	0%
Total Assets	2 893 876	55,8%	1 857 232	31,8%	1 409 383	262 612	1002,0%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Shareholders' equity	1 081 290	17,9%	916 969	108,4%	440 063	40 809	2549,6%
Share capital	37 000	0%	37 000	0%	37 000	10 000	270,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	2 925	-14,0%	3 400	357,0%	744	0	0%
Liabilities	1 809 662	93,2%	936 864	-3,3%	968 577	183 912	884,0%
- Financial liabilities	508 086	556,4%	77 406	-75,4%	315 037	20 122	2425,0%
- Advanced payments received	0	0%	0	0%	5 394	0	0%
- Trade account payables	1 088 872	81,2%	600 995	19,5%	502 721	54 695	1890,8%
- Tax and social liabilities	193 363	-21,4%	245 981	74,6%	140 879	48 726,50	296,8%
- Other debts and fixed assets liabilities	19 341	55,0%	12 482	174,6%	4 546	9 568	102,1%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	2 893 877	55,8%	1 857 233	31,8%	1 409 384	262 612	1002,0%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Sales of Goods	9 754 482	48,0%	6 592 980	31,1%	5 029 044	454 648	2045,5%
Net turnover	9 466 336	49,2%	6 342 977	28,8%	4 925 144	446 528	2020,0%
- of which net export turnover	1 502 393	54,2%	974 271	643,3%	131 077	0	0%
Operating charges	9 308 617	62,1%	5 742 483	27,6%	4 501 271	451 478	1961,8%
Operating profit/loss	445 865	-47,6%	850 497	61,1%	527 773	5 660	7777,5%
Financial income	32 001	299,0%	8 021	-34,4%	12 218	20	159905,0%
Financial charges	236 185	58,1%	149 373	18,3%	126 290	949	24787,8%
Financial profit/loss	-204 184	-44,5%	-141 352	-23,9%	-114 072	-368	-55384,8%
Pretax net operating income	241 681	-65,9%	709 145	71,4%	413 701	3 580	6650,9%
Extraordinary income	12 634	0%	0	0%	0	01	1263300%
Extraordinary charges	2 406	106,7%	1 164	580,7%	171	125	1824,8%
Extraordinary profit/loss	10 228	14216,9%	-1 164	-580,7%	-171	0	0%
Net result	164 321	-65,5%	476 906	70,5%	279 769	3 763	4266,8%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active 
Current Assets |  Equalization accounts |  Reference 

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	2 893 876	55,8%	1 857 232	31,8%	1 409 383
	Gross	CO	3 235 351	49,7%	2 161 366	30,2%	1 660 567
	Amortisation	1A	341 475	12,3%	304 134	21,1%	251 184

Non declared distributed capital (I)

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

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	265 524	42,8%	185 890	82,9%	101 609
	Gross	BJ	343 066	53,5%	223 465	101,0%	111 187
	Amortisation	BK	77 542	106,4%	37 575	292,3%	9 578

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	4 290	55,9%	2 752	-60,5%	6 968
	Gross	AF	24 488	66,9%	14 671	42,0%	10 334
	Amortisation	AG	20 198	69,5%	11 919	254,1%	3 366
	Goodwill	Net	75 000	0%	75 000	0%	75 000
	Gross	AH	75 000	0%	75 000	0%	75 000
	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	79 290	2,0%	77 752	-5,1%	81 968

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	7 473	-25,7%	10 053	9,5%	9 178
	Gross	AR	12 900	0%	12 900	35,8%	9 500
	Amortisation	AS	5 427	90,6%	2 847	784,2%	322
	Other tangible fixed assets	Net	167 997	71,3%	98 085	837,4%	10 463
	Gross	AT	219 914	81,9%	120 894	639,3%	16 353
	Amortisation	AU	51 917	127,6%	22 809	287,2%	5 890
	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	175 470		108 138		19 641

Financial assets

			31/12/2010		31/12/2009		31/12/2008
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	10 764	0%	0	0%	0
	Gross	BH	10 764	0%	0	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		10 764		0		0

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	2 627 512	57,3%	1 670 815	27,8%	1 307 774
	Gross	CJ	2 891 445	49,2%	1 937 374	25,0%	1 549 380
	Amortisation	CK	263 933	-1,0%	266 559	10,3%	241 606

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	9 928	0%	0	0%	0
	Gross	BL	9 928	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	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	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	1 707 291	189,4%	589 938	-7,5%	637 747
	Gross	BT	1 971 224	130,1%	856 497	-2,5%	878 903
	Amortisation	BU	263 933	-1,0%	266 559	10,5%	241 156
	Sub Total Stocks	Net	1 717 219	191,1%	589 938	-7,5%	637 747

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	Advance payments to suppliers	Net	18 476	46,1%	12 644	76,2%	7 176
	Gross	BV	18 476	46,1%	12 644	76,2%	7 176
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	490 840	2,6%	478 396	186,1%	167 208
	Gross	BX	490 840	2,6%	478 396	185,3%	167 658
	Amortisation	BY	0	0%	0	0%	450
	Other debtors	Net	171 175	613,3%	23 998	-26,9%	32 825
	Gross	BZ	171 175	613,3%	23 998	-26,9%	32 825
	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	662 015	31,8%	502 394	151,2%	200 033

Divers

			31/12/2010		31/12/2009		31/12/2008
	Investment securities	Net	0	0%	531	-99,3%	81 424
	Gross	CD	0	0%	531	-99,3%	81 424
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	10 726	-95,7%	252 056	414,6%	48 983
	Gross	CF	10 726	-95,7%	252 056	414,6%	48 983
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	10 726	-95,8%	252 587	93,7%	130 407

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2008
	Prepaid expenses	Net	219 076	-30,1%	313 252	-5,8%	332 411
	Gross	CH	219 076	-30,1%	313 252	-5,8%	332 411
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	840	59,4%	527	0%	0
Gross		840	59,4%	527	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	2 893 877	55,8%	1 857 233	31,8%	1 409 384

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	1 081 290	17,9%	916 969	108,4%	440 063
	Equity and shareholders' equity	DA	37 000	0%	37 000	0%	37 000
	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	3 700	0%	3 700	0%	3 700
	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	876 000	119,5%	399 000	233,9%	119 500
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	269	-25,9%	363	286,2%	94
	Profit or loss for the period	DI	164 321	-65,5%	476 906	70,5%	279 769
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2010		31/12/2009		31/12/2008
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	2 925	-14,0%	3 400	357,0%	744
	Risk provisions	DP	2 925	-14,0%	3 400	357,0%	744
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	1 809 662	93,2%	936 864	-3,3%	968 577
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	176 365	18025,9%	973	-33,7%	1 468
	Sundry loans and financial liabilities	DV	331 721	334,0%	76 433	-75,6%	313 569
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	5 394
	Trade accounts payables	DX	1 088 872	81,2%	600 995	19,5%	502 721
	Tax and social security liabilities	DY	193 363	-21,4%	245 981	74,6%	140 879
	Fixed asset liabilities	DZ	0	0%	0	0%	1 310
	Other debts	EA	19 341	55,0%	12 482	285,7%	3 236

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	0	0%	0	0%	0

References

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

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	445 865	-47,6%	850 497	61,1%	527 773

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-204 184	-44,5%	-141 352	-23,9%	-114 072

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	241 681	-65,9%	709 145	71,4%	413 701

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result(Total VII-VIII)	HI	10 228	978,7%	-1 164	-580,7%	-171

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	164 321	-65,5%	476 906	70,5%	279 769

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	9 799 117	48,4%	6 600 999	30,9%	5 041 262

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	9 634 795	57,3%	6 124 093	28,6%	4 761 493

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income(Total I)	FR	9 754 482	48,0%	6 592 980	31,1%	5 029 044

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	Sale of goods for resale	FC	9 473 138	49,8%	6 323 739	29,3%	4 891 248
	France	FA	7 971 045	49,0%	5 350 323	11,7%	4 789 960
	Export	FB	1 502 093	54,3%	973 416	861,0%	101 288
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	-6 802	-135,4%	19 238	-43,2%	33 896
	France	FG	-7 102	-138,6%	18 383	347,6%	4 107
	Export	FH	300	-64,9%	855	-97,1%	29 789
	Net turnover	FL	9 466 336	49,2%	6 342 977	28,8%	4 925 144
	France	FJ	7 963 943	48,3%	5 368 706	12,0%	4 794 067
	Export	FK	1 502 393	54,2%	974 271	643,3%	131 077
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	288 063	15,2%	250 000	140,7%	103 884
	Other income	FQ	83	2666,7%	03	-81,2%	16

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	9 308 617	62,1%	5 742 483	27,6%	4 501 271

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	7 367 392	93,6%	3 805 084	9,8%	3 465 682
Change in stocks of goods for resale	FT	-1 114 727	-5075,1%	22 406	104,9%	-454 893
Purchase of raw materials	FU	42 514	139,6%	17 744	42,3%	12 466
Change in stocks of raw materials	FV	-9 927	0%	0	0%	0
Other external purchases and charges	FW	2 065 699	77,0%	1 166 852	23,2%	947 175
Tax, duty and similar payments	FX	42 766	104,8%	20 882	40,9%	14 818
Payroll	FY	443 933	46,2%	303 720	57,0%	193 449
Social security costs	FZ	161 903	49,6%	108 255	46,6%	73 819

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	42 778	52,8%	27 998	338,8%	6 380
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	263 933	-1,0%	266 559	10,3%	241 606
Provisions for risks and charges	GD	2 085	-27,4%	2 873	286,2%	744

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	268	143,6%	110	340,0%	25

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2008
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	32 001	299,0%	8 021	-34,4%	12 218
	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	7 399	46,4%	5 054	-15,4%	5 971
	Released provisions and transferred charges	GM	527	0%	0	0%	0
	Exchange gains	GN	24 074	737,6%	2 874	-49,4%	5 678
	Net income from disposal of investment securities	GO	01	-98,9%	93	-83,7%	569

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2008
	Total financial charge(Total VI)	GU	236 185	58,1%	149 373	18,3%	126 290
	Financial reserves and provisions	GQ	840	59,4%	527	0%	0
	Interest and similar charges	GR	212 144	47,9%	143 448	16,2%	123 499
	Exchange losses	GS	23 201	329,8%	5 398	93,4%	2 791
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	12 634	0%	0	0%	0
	Extraordinary operating income	HA	4 000	0%	0	0%	0
	Extraordinary income from capital transactions	HB	8 634	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2010		31/12/2009		31/12/2008
Total extraordinary charges (Total VIII)	HH	2 406	106,7%	1 164	580,7%	171
Extraordinary operating charges	HE	1 068	-8,2%	1 164	580,7%	171
Extraordinary charges from capital transactions	HF	1 338	0%	0	0%	0
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

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

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	87 587	-62,1%	231 074	72,8%	133 761

References

		31/12/2010		31/12/2009		31/12/2008
Of which equipment leases	HP	18 988	67,5%	11 336	0%	11 336
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	18 631	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	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	4 150	0%	0	0%	0
	Gross value at the end of period	OL	343 066	0%	0	0%	111 187

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	KD	89 671	0%	0	0%	77 144
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	9 817	0%	0	0%	8 190
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	99 488	0%	0	0%	85 334

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	133 794	0%	0	0%	8 851
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	103 170	0%	0	0%	17 002
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	4 150	0%	0	0%	0
	Gross value at the end of period	NH	232 814	0%	0	0%	25 853

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	10 764	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	10 764	0%	0	0%	0

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

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	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)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	11 919	0%	0	0%	1 251
Increases		PF	8 278	0%	0	0%	2 115
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	20 197	0%	0	0%	3 366

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	25 656	0%	0	0%	1 947
Increases		QV	34 500	0%	0	0%	4 265
Decreases		QW	2 812	0%	0	0%	0
	Decreasess by budget item transfer	QX	57 344	0%	0	0%	6 212

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

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2010		31/12/2009		31/12/2008
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	269 959	0%	0	0%	102 223
Increases		UB	266 858	0%	0	0%	242 350
Decreases		UC	269 959	0%	0	0%	102 223
	Value at the end of period	UD	266 858	0%	0	0%	242 350

Includes Total allocations

Operating	UE	266 018	0%	0	0%	242 350
Financial	UG	840	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	269 432	0%	0	0%	102 223
Financial	UH	527	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	3Z	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	3 400	0%	0	0%	0
Increases		TV	2 925	0%	0	0%	744
Decreases		TW	3 400	0%	0	0%	0
	Value at the end of period	TX	2 925	0%	0	0%	744

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	266 559	0%	0	0%	102 223
Increases		TY	263 933	0%	0	0%	241 606
Decreases		TZ	266 559	0%	0	0%	102 223
	Value at the end of period	UA	263 933	0%	0	0%	241 606

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	891 855	0%	0	0%	532 894
1 year at most	VU	881 091	0%	0	0%	532 894
More than one year	VV	10 764	0%	0	0%	0

State of loans

		31/12/2010		31/12/2009		31/12/2008
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	10 764	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	490 840	0%	0	0%	167 658
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	129	0%	0	0%	100
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	145 866	0%	0	0%	0
Value added tax	VB	22 680	0%	0	0%	20 483
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	642
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	2 500	0%	0	0%	11 600

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	219 076	0%	0	0%	332 411

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	1 809 662	0%	0	0%	963 183
1 year at most		VZ2	1 809 662	0%	0	0%	649 614
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	313 569
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	176 365	0%	0	0%	1 468
1 year at most		VG2	176 365	0%	0	0%	1 468
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	18 077
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	239 353	0%	0	0%	0
1 year at most		8A2	239 353	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	1 088 872	0%	0	0%	502 721
1 year at most		8B2	1 088 872	0%	0	0%	502 721
More than 1 year and 5 years at most		8B3	1 088 872	0%	0	0%	502 721
	Personnel and associated accounts (gross)	8C1	32 173	0%	0	0%	18 077
1 year at most		8C2	32 173	0%	0	0%	18 077
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	97 151	0%	0	0%	41 199
1 year at most		8D2	97 151	0%	0	0%	41 199
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	27 298
1 year at most		8E2	0	0%	0	0%	27 298
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	38 465	0%	0	0%	44 019
1 year at most		VW2	38 465	0%	0	0%	44 019
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	25 574	0%	0	0%	10 286
1 year at most		VQ2	0	0%	0	0%	0
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%	1 310
1 year at most		8J2	0	0%	0	0%	1 310
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	92 368	0%	0	0%	313 569
1 year at most		VI2	92 368	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	313 569
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	19 341	0%	0	0%	3 236
1 year at most		8K2	19 341	0%	0	0%	3 236
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

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	499 158	0%	0	0%	0
Debt repaid during the period	VK	259 805	0%	0	0%	0

Table allocation results and other information
Dividends distributed

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

Commitments

		31/12/2010		31/12/2009		31/12/2008
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2010		31/12/2009		31/12/2008
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2010		31/12/2009		31/12/2008
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2010		31/12/2009		31/12/2008
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

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

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
Groups and Shareholders	ZR	0	-	0	-	0

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Fixed Asset Financing		4,87	5,2%	4,63	-32,7%	6,88	2,16	125,5%
Global Debt		69 days	30,2%	53 days	-25,4%	71 days	138 days	-50,0%
Working Capital Fund overall net		50 days	8,7%	46 days	-4,2%	48 days	52 days	-3,8%
Financial independence		613,10%	-99,3%	94241,42%	214,4%	29977,04%	192,71%	218,1%
Solvability		37,36%	-24,3%	49,37%	58,1%	31,22%	24,70%	51,3%
Capacity debt futures		613,10%	-	%	-	2251,54%	417,48%	46,9%
Coverage of current assets by net working capital overall		49,65%	-0,6%	49,97%	-0,8%	50,39%	33,19%	49,6%
General Liquidity		0,49	-		-	0,82	0,52	-5,8%
Restricted Liquidity		0,49	-		-	1,02	0,85	-42,4%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Need background in operating working capital		42 days	200%	14 days	0%	14 days	17 days	147,1%
Treasury		0 days	0%	14 days	40,0%	10 days	5 days	0%
Inventory turnover of goods		113 days	39,5%	81 days	-22,9%	105 days	89,50days	26,3%
Average length of credit granted to customers		19 days	-29,6%	27 days	125,0%	12 days	47 days	-59,6%
Average length of credit obtained suppliers		47 days	9,3%	43 days	-6,5%	46 days	56 days	-16,1%
Inventory turnover of raw materials in industrial enterprises		2 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	740,50days	-
Rotation tangible assets		4066,05%	-	%	-	19050,57%	1510,13%	169,3%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Margin trading		34,02%	-13,5%	39,35%	3,1%	38,18	32,32%	5,3%
Profitability of the business		4,93	-65,2%	14,16	3,7%	13,66	2,78%	77,3%
Net profit		1,74%	-76,9%	7,52%	32,4%	5,68%	1,06%	64,2%
Growth rate of turnover (excluding VAT)		49,24%	71,0%	28,79%	-	%	0%	0%
Rates integration		11,78%	-43,9%	20,98%	8,3%	19,38%	19,08%	-38,3%
Rate leasing furniture		0,20%	11,1%	0,18%	-21,7%	0,23%	0%	0%
Work Factor		54,32%	75,5%	30,95%	10,6%	27,99%	69,98%	-22,4%
Weight interests		2,49	6,0%	2,35%	-8,2%	2,56%	0,33%	654,5%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Cash flow from the overall profitability		-0,73%	-109,2%	7,97%	113,7%	3,73%	1,96%	-137,2%
Rates of economic profitability		29%	-67,8%	90%	1,1%	89%	13%	123,1%
Financial profitability		1081290%	17,9%	916969%	108,4%	440063%	14633%	7289,4%
Return on investment		25,20%	-60,0%	62,98%	17,1%	53,78%	9,23%	173,0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Turnover	9 466 336	49,2%	6 342 977	28,8%	4 925 144	446 528 €	2020,0%

Sales of goods	9 473 138	49,8%	6 323 739	29,3%	4 891 248
- Purchase of goods	7 367 392	93,6%	3 805 084	9,8%	3 465 682
+/- Stock of goods variation	-1 114 727	-5075,1%	22 406	104,9%	-454 893
Trading margin	3 220 473 €	29,0%	2 496 249 €	32,7%	1 880 459 €	94 318 €	3314,5%
	34,02 % CA	-13,5%	39,35 % CA	3,1%	38,18 % CA	34,08 % CA	-0,2%

Sale of goods produced	-6 802	-135,4%	19 238	-43,2%	33 896
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	-6 802 €	-135,4%	19 238 €	-43,2%	33 896 €	18 232 €	-137,3%
	-0,07 % CA	-123,3%	0,30 % CA	-56,5%	0,69 % CA	3,44 % CA	-102,0%

Trading margin	3 220 473	29,0%	2 496 249	32,7%	1 880 459	94 318	3314,5%
+ Period Production	-6 802	-135,4%	19 238	-43,2%	33 896	18 232	-137,3%
- Purchase of raw materials	42 514	139,6%	17 744	42,3%	12 466
+/- Change in stocks of raw materiels	-9 927	0%	0	0%	0
- Other external purchases and charges	2 065 699	77,0%	1 166 852	23,2%	947 175
Added value	1 115 385 €	-16,2%	1 330 891 €	39,4%	954 714 €	82 801 €	1247,1%
	11,78 % CA	-43,9%	20,98 % CA	8,3%	19,38 % CA	19,08 % CA	-38,3%

Added value	1 115 385 €	-16,2%	1 330 891 €	39,4%	954 714 €	82 801 €	1247,1%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	42 766	104,8%	20 882	40,9%	14 818
- Personal charges	605 836	47,1%	411 975	54,1%	267 268
Gross operating surplus	466 783 €	-48,0%	898 034 €	33,5%	672 628 €	8 996 €	5088,8%
	4,93 % CA	-65,2%	14,16 % CA	3,7%	13,66 % CA	2,78 % CA	77,3%

Gross operating surplus	466 783 €	-48,0%	898 034 €	33,5%	672 628 €	8 996 €	5088,8%
+ Release of reserves and provisions	288 063	15,2%	250 000	140,7%	103 884
+ Other operating income	83	2666,7%	03	-81,2%	16
- Depreciation/Amortisation	308 796	3,8%	297 430	19,6%	248 730
- Other charges	268	143,6%	110	340,0%	25
Operating result	445 865 €	-47,6%	850 497 €	61,1%	527 773 €	5 660 €	7777,5%
	4,71 % CA	-64,9%	13,41 % CA	25,1%	10,72 % CA	1,71 % CA	175,4%

Operating result	445 865 €	-47,6%	850 497 €	61,1%	527 773 €	5 660 €	7777,5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	32 001	299,0%	8 021	-34,4%	12 218
- Financial charges	236 185	58,1%	149 373	18,3%	126 290
Pre-tax result	241 681 €	-65,9%	709 145 €	71,4%	413 701 €	3 580 €	6650,9%
	2,55 % CA	-77,2%	11,18 % CA	33,1%	8,40 % CA	1,25 % CA	104,0%

Extraordinary income	12 634	0%	0	0%	0	01	1263300%
- Extraordinary charges	2 406	106,7%	1 164	580,7%	171
Extraordinary result	10 228 €	978,7%	-1 164 €	-580,7%	-171 €	0 €	0%
	0,11 % CA	650,0%	-0,02 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	241 681 €	-65,9%	709 145 €	71,4%	413 701 €	3 580 €	6650,9%
Extraordinary result	10 228 €	978,7%	-1 164 €	-580,7%	-171 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	87 587	-62,1%	231 074	72,8%	133 761
Net result	164 322 €	-65,5%	476 907 €	70,5%	279 769 €	3 762 €	4267,9%
	1,74 % CA	-76,9%	7,52 % CA	32,4%	5,68 % CA	1,06 % CA	64,2%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

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.

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
14/03/2012	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 2708 - 498788173 RCS. MAURER CARPETS FRANCE. Forme : S.A.S. Adresse : 4, rue de Nairobi, parc d'activité du parc d'Erstein 67150 Erstein. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
09/05/2011	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 3052 - 498788173 RCS. MAURER CARPETS FRANCE. Forme : S.A.S. Adresse : parc d'activité du Parc Erstein, 4, rue de Nairobi 67150 Erstein. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
09/05/2011	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 3051 - 498788173 RCS. MAURER CARPETS FRANCE. Forme : S.A.S. Adresse : parc d'activité du Parc d'Erstein, 4, rue de Nairobi 67150 Erstein. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
04/08/2009	Bodacc B	Modification et mutation diverse
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1063 - 498 788 173 RCS Strasbourg. MAURER CARPETS FRANCE. Forme : S.A.S. Capital :37000 EUR. Adresse de l’établissement principal : 4 rue de Nairobi, Parc d'Activité du Pays d'Erstein, 67150 Erstein. Adresse du siège social : 4 rue de Nairobi, Parc d'Activité du Pays d'Erstein, 67150 Erstein. Commentaires : modification survenue sur l'adresse du siège social et sur l'adresse de l'établissement ; date d'effet : 01/05/2009.
26/08/2007	Bodacc A	Création d'établissement
0833 - RCS Strasbourg 498 788 173. A dater du : 27 juillet 2007. RC 07-B 1539. MAURER CARPETS FRANCE. Forme : S.A.S. Capital : 37 000 euros. Adresse du siège social : 9 route de Strasbourg, 67230 Huttenheim. Administration : président : HOSTETTER (Frédéric). Commissaire aux comptes titulaire : DAEFFLER (Yvan). Commissaire aux comptes suppléant : WUSCHER (Thierry). Cette société se constitue . Etablissement principal - Activité : importation, vente de tapis, de revêtements de sols, de mobilier, de textile de décoration, d'ameublement et de luminaires agent commercial . Adresse : 9 route de Strasbourg, 67230 Huttenheim. Date de début d'activité : 1er juin 2007.

Company events history

Date	Description
27/03/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
14/03/2012	Bodacc C : Deposit accounts notice
03/06/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/05/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
09/05/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
31/12/2009	New accounts available
04/08/2009	Bodacc B: Various editing or changing
03/07/2009	Updated articles of association
03/07/2009	Minutes of general meeting of shareholders
03/07/2009	Private document
03/07/2009	Registered office transferred inside jurisdiction of the Commercial Court
01/05/2009	Modification to Establishment Address or Identifier
01/05/2009	Update of Company Workforce
01/05/2009	Update of Company Head Office Identifier
01/05/2009	Transfer of Establishment
31/12/2008	New accounts available
27/07/2007	Company formation
27/07/2007	Private document
27/07/2007	Fund deposit certificate
27/07/2007	Articles of association

Establishment events history

Date	Description
09/06/2012	Update Rating
27/03/2012	Update Limit
27/03/2012	Update Rating
07/01/2012	Update Rating
25/10/2011	Update Limit
25/10/2011	Update Rating
16/08/2011	Update Rating
18/05/2011	Update Limit
18/05/2011	Update Rating
01/09/2010	Update Limit
31/07/2010	Update Limit
04/01/2010	Update Limit
30/12/2009	Update Rating
01/05/2009	Formation of Head office (after transfer)
01/05/2009	Update of Establishment Address
01/05/2009	Modification of Head office Identification

directors

Name	M. HOSTETTER FREDERIC
Manager position	Président	Date of birth	29/05/1971
Place of birth	MULHOUSE
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.81
UK Pound	1	Rs.86.52
Euro	1	Rs.69.50

INFORMATION DETAILS

Report Prepared by :

MNL

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.