MIRA INFORM REPORT

Report Date :

22.09.2012

IDENTIFICATION DETAILS

Correct Name :	SOC FR EXPORTAT DISTRIBUT INDUSTRIELLE
Registered Office :	9 Rue Du Fg Poissonniere, 75009 Paris 9
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	May 1987
Com. Reg. No.:	RCS Paris B 341 315 091
Legal Form :	Limited Liability Company
Line of Business :	Wholesale (intercompany trade) of other household goods
No. of Employees :	03 – 05 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 :	Slow but Correct
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

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

REGISTERED NAME & COMPANY SUMMARY

Name

SOC FR EXPORTAT DISTRIBUT INDUSTRIELLE

SIRET

341 315 091 00023

company summary

Trade name	SOFREDI	Acronym	SOFREDI
Activity (APE)	Commerce de gros (commerce interentreprises) d'autres biens domestiques (4649Z)	Legal form	Limited Liability Company
Phone	01 48 24 09 17	RCS Registration	RCS Paris B 341 315 091
Fax	01 48 24 09 28	Share capital	60,980 Euros
Address	SOC FR EXPORTAT DISTRIBUT INDUSTRIELLE 9 RUE DU FG POISSONNIERE 75009 PARIS 9	Incorporated Date	05/1987
Nationality	France	Status	Economically active

Current Directors

1

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	6,404,962 €	7,679,581 €	9,298,739 €
Gross Operating Surplus	1,73 % Turnover	1,24 % Turnover	1,06 % Turnover
Net worth	488,338 €	450,881 €	482,054 €
Employees	3 to 5 employees	-	-

directors

Name	M. TOUAZI MOHAND
Manager position	Gérant	Date of birth	05/06/1962
Place of birth	ALGERIE
Type	Individual	Name at birth

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

N/a

PAYMENT INFORMATION

N/a

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	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	14/12/2011	17/07/2010	-
Activity Code	4649Z	4649Z	4649Z
Employees	4	3	3

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	76 130	-7,3%	82 166	-9,5%	90 773	19 237	295,7%
- Intangible assets	68 602	0%	68 602	0%	68 602	0	0%
- Tangible assets	2 399	-71,6%	8 435	-50,5%	17 041	4 824	-50,3%
- Financial assets	5 129	0%	5 129	0%	5 129	1 247	311,3%
Net current assets	1 005 005	4,2%	964 058	-19,3%	1 194 568	192 202	422,9%
- Stocks	0	0%	0	0%	0	36 625	0%
- Advanced payments	151 454	4,2%	361 103	-8,3%	393 918	0	0%
- Receivables	646 263	61,5%	400 121	-36,2%	627 088	60 652	965,5%
- Securities and cash	207 288	2,2%	202 834	16,9%	173 563	25 116	725,3%
- Prepaid expenses	-	-	-	-	-	66	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	1 081 135	3,3%	1 046 225	-18,6%	1 285 341	239 478	351,5%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	488 338	8,3%	450 881	-6,5%	482 054	67 871	619,5%
Share capital	60 980	0%	60 980	0%	60 980	10 000	509,8%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	592 797	-0,4%	595 345	-25,9%	803 286	144 654	309,8%
- Financial liabilities	40 850	449,7%	7 432	39,4%	5 331	16 839	142,6%
- Advanced payments received	23 380	-88,5%	202 491	-47,8%	388 228	0	0%
- Trade account payables	458 617	41,0%	325 365	-12,4%	371 406	41 848	995,9%
- Tax and social liabilities	69 950	16,5%	60 057	56,7%	38 322	33 494,50	108,8%
- Other debts and fixed assets liabilities	0	0%	0	0%	0	4 690	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	1 081 136	3,3%	1 046 225	-18,6%	1 285 341	239 808	350,8%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	6 408 247	-16,6%	7 687 814	-17,4%	9 303 706	358 361	1688,2%
Net turnover	6 404 962	-16,6%	7 679 581	-17,4%	9 298 739	350 295	1728,4%
- of which net export turnover	6 404 962	0%	0	0%	0	0	0%
Operating charges	6 303 271	-17,0%	7 597 154	-17,6%	9 216 318	347 813	1712,3%
Operating profit/loss	104 976	15,8%	90 660	3,7%	87 388	7 374	1323,6%
Financial income	48 181	55,3%	31 033	-9,4%	34 258	15	321106,7%
Financial charges	34 918	-16,0%	41 573	47,8%	28 122	844	4037,2%
Financial profit/loss	13 263	225,8%	-10 540	-271,8%	6 135	-244	5535,7%
Pretax net operating income	118 240	47,6%	80 120	-14,3%	93 523	6 346	1763,2%
Extraordinary income	19 149	0%	0	0%	0	02	957350,0%
Extraordinary charges	44 516	444,3%	8 178	0%	0	150	29577,3%
Extraordinary profit/loss	-25 367	939,2%	-8 178	0%	0	0	0%
Net result	68 633	120,1%	31 176	-50,0%	62 349	6 156	1014,9%

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	1 081 135	3,3%	1 046 225	-18,6%	1 285 341
Gross	CO	1 153 931	3,7%	1 112 341	-17,2%	1 342 851
Amortisation	1A	72 796	10,1%	66 116	15,0%	57 510

Non declared distributed capital (I)

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

Active fixed asset (II)

		31/12/2010		31/12/2009		31/12/2008
Total Active fixed asset (II)	Net	76 130	-7,3%	82 166	-9,5%	90 773
Gross	BJ	148 926	0,4%	148 282	0,0%	148 283
Amortisation	BK	72 796	10,1%	66 116	15,0%	57 510

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	0	0%	0	0%	0
	Gross	AF	151	0%	151	0%	151
	Amortisation	AG	151	0%	151	0%	151
	Goodwill	Net	68 602	0%	68 602	0%	68 602
	Gross	AH	68 602	0%	68 602	0%	68 602
	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	68 602	0%	68 602	0%	68 602

Tangilble fixed assets

		31/12/2010		31/12/2009		31/12/2008
Lands	Net	0	0%	0	0%	0
Gross	AN	6 414	0%	6 414	0%	6 414
Amortisation	AO	6 414	0%	6 414	0%	6 414
Buildings	Net	0	0%	0	0%	0
Gross	AP	0	0%	0	0%	0
Amortisation	AQ	0	0%	0	0%	0
Plant	Net	0	0%	0	0%	0
Gross	AR	0	0%	0	0%	0
Amortisation	AS	0	0%	0	0%	0
Other tangible fixed assets	Net	2 399	-71,6%	8 435	-50,5%	17 041
Gross	AT	68 630	0,9%	67 986	0%	67 986
Amortisation	AU	66 231	11,2%	59 551	16,9%	50 945
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	2 399		8 435		17 041

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	5 129	0%	5 129	0%	5 129
Gross	BH	5 129	0%	5 129	0%	5 129
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		5 129		5 129		5 129

Current Assets (III)

		31/12/2010		31/12/2009		31/12/2008
Total Assets	Net	1 005 005	4,2%	964 058	-19,3%	1 194 568
Gross	CJ	1 005 005	4,2%	964 058	-19,3%	1 194 568
Amortisation	CK	0	0%	0	0%	0

Stocks

		31/12/2010		31/12/2009		31/12/2008
Raw materials	Net	0	0%	0	0%	0
Gross	BL	0	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	0	0%	0	0%	0
Gross	BT	0	0%	0	0%	0
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	0	0%	0	0%	0

Advance payments to suppliers

		31/12/2010		31/12/2009		31/12/2008
Advance payments to suppliers	Net	151 454	-58,1%	361 103	-8,3%	393 918
Gross	BV	151 454	-58,1%	361 103	-8,3%	393 918
Amortisation	BW	0	0%	0	0%	0

Debtors

31/12/2010

31/12/2009

31/12/2008

Trade accounts receivable

Net

542 344

70,6%

317 943

-38,2%

514 404

Gross

BX

542 344

70,6%

317 943

-38,2%

514 404

Amortisation

BY

0

0%

0

0%

0

Other debtors

Net

103 919

26,5%

82 178

-27,1%

112 684

Gross

BZ

103 919

26,5%

82 178

-27,1%

112 684

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

646 263

61,5%

400 121

-36,2%

627 088

Divers

		31/12/2010		31/12/2009		31/12/2008
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	207 288	2,2%	202 834	16,9%	173 563
Gross	CF	207 288	2,2%	202 834	16,9%	173 563
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	207 288	2,2%	202 834	16,9%	173 563

Prepaid expenses

		31/12/2010		31/12/2009		31/12/2008
Prepaid expenses	Net	0	0%	0	0%	0
Gross	CH	0	0%	0	0%	0
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	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	1 081 136	3,3%	1 046 225	-18,6%	1 285 341

Shareholder Equity (I)

		31/12/2010		31/12/2009		31/12/2008
Total shareholders' equity (Total I)	DL	488 338	8,3%	450 881	-6,5%	482 054
Equity and shareholders' equity	DA	60 980	0%	60 980	0%	60 980
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	13 144	0%	13 144	0%	13 144
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	6 326	0%	6 326	0%	6 326
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	339 255	0%	339 255	0%	339 255
Profit or loss for the period	DI	68 633	120,1%	31 176	-50,0%	62 349
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	0	0%	0	0%	0
Risk provisions	DP	0	0%	0	0%	0
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

592 797

-0,4%

595 345

-25,9%

803 286

Convertible debentures

DS

0

0%

0

0%

0

Other debentures

DT

0

0%

0

0%

0

Bank loans and liabilities

DU

40 023

438,5%

7 432

39,4%

5 331

Sundry loans and financial liabilities

DV

827

0%

0

0%

0

Of which participating loans

EI

0

0%

0

0%

0

Advance payments received for current orders

DW

23 380

-88,5%

202 491

-47,8%

388 228

Trade accounts payables

DX

458 617

41,0%

325 365

-12,4%

371 406

Tax and social security liabilities

DY

69 950

16,5%

60 057

56,7%

38 322

Fixed asset liabilities

DZ

0

0%

0

0%

0

Other debts

EA

0

0%

0

0%

0

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	592 797	-0,4%	595 344	0%	0
Of which current bank facilities	EH	2 149	-71,1%	7 432	39,4%	5 331

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	104 976	15,8%	90 660	3,7%	87 388

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	13 263	225,8%	-10 540	-271,8%	6 135

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	118 240	47,6%	80 120	-14,3%	93 523

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-25 367	-210,2%	-8 178	0%	0

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	68 633	120,1%	31 176	-50,0%	62 349

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	6 475 577	-16,1%	7 718 847	-17,3%	9 337 964

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	6 406 945	-16,7%	7 687 672	-17,1%	9 275 614

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	6 408 247	-16,6%	7 687 814	-17,4%	9 303 706

Operating income (details)

		31/12/2010		31/12/2009		31/12/2008
Sale of goods for resale	FC	6 404 962	-16,6%	7 679 581	-17,4%	9 298 739
France	FA	0	0%	7 679 581	-17,4%	9 298 739
Export	FB	6 404 962	0%	0	0%	0
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	0	0%	0	0%	0
France	FG	0	0%	0	0%	0
Export	FH	0	0%	0	0%	0
Net turnover	FL	6 404 962	-16,6%	7 679 581	-17,4%	9 298 739
France	FJ	0	0%	7 679 581	-17,4%	9 298 739
Export	FK	6 404 962	0%	0	0%	0
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	0	0%	5 001	9,2%	4 579
Other income	FQ	3 285	1,6%	3 232	733,0%	388

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	6 303 271	-17,0%	7 597 154	-17,6%	9 216 318

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	5 510 595	-20,0%	6 887 534	-16,5%	8 252 825
Change in stocks of goods for resale	FT	0	0%	0	0%	70 392
Purchase of raw materials	FU	78	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	563 868	18,1%	477 528	-26,0%	645 211
Tax, duty and similar payments	FX	23 193	65,1%	14 045	-53,9%	30 471
Payroll	FY	141 484	-5,0%	148 977	8,7%	137 066
Social security costs	FZ	54 878	-2,9%	56 518	-12,1%	64 329

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	6 680	-22,4%	8 606	0,4%	8 572
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	2 495	-36,8%	3 946	-47,0%	7 452

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	48 181	55,3%	31 033	-9,4%	34 258
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	54	-95,4%	1 181	-86,4%	8 681
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	48 127	61,2%	29 852	16,7%	25 576
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2010		31/12/2009		31/12/2008
Total financial charge (Total VI)	GU	34 918	-16,0%	41 573	47,8%	28 122
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	663	-84,9%	4 385	380,7%	-1 562
Exchange losses	GS	34 255	-7,9%	37 188	25,3%	29 685
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	19 149	0%	0	0%	0
Extraordinary operating income	HA	19 149	0%	0	0%	0
Extraordinary income from capital transactions	HB	0	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	44 516	444,3%	8 178	0%	0
Extraordinary operating charges	HE	44 516	444,3%	8 178	0%	0
Extraordinary charges from capital transactions	HF	0	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	24 240	-40,5%	40 767	30,8%	31 174

References

				31/12/2010			31/12/2009		31/12/2008
	Of which equipment leases		HP	0	0%		0	0%	0
	Of which property leases		HQ	0	0%		0	0%	0
	Of which transferred charges		A1	0	0%		5 001	9,2%	4 579
	Of which trader's own contributions		A2	0	0%		0	0%	0
	Of which royalties on licences and patents (income)		A3	0	0%		0	0%	0
	Of which royalties on licences and patents (charges)		A4	0	0%		0	0%	0
Display parameter
Currency		Euro				Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	OG	0	0%	0	0%	147 173
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	0	0%	0	0%	0
Gross value at the end of period	OL	148 926	0,4%	148 283	0%	148 283

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	68 753	0%	68 753	0%	68 753
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
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	68 753	0%	68 753	0%	68 753

angible fixed assets (Total III)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LN	74 400	0%	74 400	1,5%	73 291
Increasess due to revaluation	LO	643	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	0
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	0	0%	0	0%	0
Gross value at the end of period	NH	75 043	0,9%	74 400	0,0%	74 401

Fiancial assets (Total IV)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LQ	5 129	0%	5 129	0%	5 129
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	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	5 129	0%	5 129	0%	5 129

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%	48 938
Increases		0P	0	0%	0	0%	8 572
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	57 510

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	151	0%	151	0%	151
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	151	0%	151	0%	151

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	65 965	15,0%	57 359	17,6%	48 788
Increases		QV	6 680	-22,4%	8 606	0,4%	8 572
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	72 645	10,1%	65 965	15,0%	57 359

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	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

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

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	651 392	60,7%	405 250	-35,9%	632 216
1 year at most	VU	646 263	61,5%	400 121	-36,2%	627 087
More than one year	VV	5 129	0%	5 129	0%	5 129

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	5 129	0%	5 129	0%	5 129
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	542 344	70,6%	317 943	-38,2%	514 404
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	257	328,3%	60	-96,0%	1 515
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	73 049	1,3%	72 105	-7,3%	77 810
Value added tax	VB	8 514	-11,7%	9 637	150,8%	3 842
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	22 100	5762,1%	377	-98,7%	29 517

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	569 417	44,9%	392 854	-5,3%	415 058
1 year at most		VZ2	544 530	38,6%	392 854	-5,3%	415 058
More than 1 year and 5 years at most		VZ3	24 887	0%	0	0%	0
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

2 149

-71,1%

7 432

39,4%

5 331

1 year at most

VG2

2 149

-71,1%

7 432

39,4%

5 331

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

37 875

0%

0

0%

0

1 year at most

VH2

12 988

0%

0

0%

0

More than 1 year and 5 years at most

VH3

24 887

0%

0

0%

0

Loans and various financial liabilities (gross)

8A1

0

0%

0

0%

0

1 year at most

8A2

0

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

458 617

41,0%

325 365

-12,4%

371 406

1 year at most

8B2

458 617

41,0%

325 365

-12,4%

371 406

More than 1 year and 5 years at most

8B3

458 617

41,0%

325 365

0%

0

Personnel and associated accounts (gross)

8C1

48 229

181,1%

17 155

23726,4%

72

1 year at most

8C2

48 229

181,1%

17 155

23726,4%

72

More than 1 year and 5 years at most

8C3

0

0%

0

0%

0

Social Security and other social organizations (gross)

8D1

21 721

3,9%

20 906

6,7%

19 586

1 year at most

8D2

21 721

3,9%

20 906

6,7%

19 586

More than 1 year and 5 years at most

8D3

0

0%

0

0%

0

Taxes on profits (gross)

8E1

0

0%

3 332

0%

0

1 year at most

8E2

0

0%

3 332

0%

0

More than 1 year and 5 years at most

8E3

0

0%

0

0%

0

VAT (gross)

VW1

0

0%

18 663

0%

18 663

1 year at most

VW2

0

0%

18 663

0%

18 663

More than 1 year and 5 years at most

VW3

0

0%

0

0%

0

Backed Obligations (gross)

VX1

0

0%

0

0%

0

1 year at most

VX2

0

0%

0

0%

0

More than 1 year and 5 years at most

VX3

0

0%

0

0%

0

Other taxes and assimilated (gross)

VQ1

0

0%

0

0%

0

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%

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

827

0%

0

0%

0

1 year at most

VI2

827

0%

0

0%

0

More than 1 year and 5 years at most

VI3

0

0%

0

0%

0

More 5 years

VI4

0

0%

0

0%

0

Other liabilities (gross)

8K1

0

0%

0

0%

0

1 year at most

8K2

0

0%

0

0%

0

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	37 875	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	31 176	-50,0%	62 349	-11,8%	70 715

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	16 573	0%	16 573	-20,0%	20 716
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	7 252	-17,3%	8 766	58,0%	5 548
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	540 043	19,4%	452 189	-26,9%	618 947
Total Other purchases and external	ZJ	563 868	3914,7%	477 528	-26,0%	645 211

Taxes and Fees

		31/12/2010		31/12/2009		31/12/2008
Business tax	YW	3 278	-57,7%	7 757	-37,6%	12 438
Other taxes and payments assimilated	9Z	19 915	216,7%	6 288	-65,1%	18 033
Total taxes and fees	YX	23 193	65,1%	14 045	-53,9%	30 471

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	12 871	122,1%	5 795	7,3%	5 399

Average number of employees

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	04	33,3%	03	0%	03

Groups and Shareholders

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

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		4,03	15,5%	3,49	-4,1%	3,64	2,57	56,8%
Global Debt		33 days	17,9%	28 days	-9,7%	31 days	129 days	-74,4%
Working Capital Fund overall net		25 days	47,1%	17 days	13,3%	15 days	69 days	-63,8%
Financial independence		1220,14%	-79,9%	6066,75%	-32,9%	9042,47%	400,46%	204,7%
More ratios
Solvability		45,17%	4,8%	43,10%	14,9%	37,50%	33,32%	35,6%
Capacity debt futures		3226,12%	-46,8%	6066,75%	-32,9%	9042,47%	969,08%	232,9%
Coverage of current assets by net working capital overall		44,87%	17,3%	38,25%	16,8%	32,75%	42,42%	5,8%
General Liquidity		1,19	16,7%	1,02	-32,5%	1,51	0,57	108,8%
Restricted Liquidity		1,57	2,6%	1,53	-20,7%	1,93	0,95	65,3%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		14 days	75,0%	8 days	-11,1%	9 days	29 days	-51,7%
Treasury		12 days	33,3%	9 days	28,6%	7 days	10 days	20,0%
Inventory turnover of goods		0 days	0%	0 days	0%	0 days	95 days	0%
Average length of credit granted to customers		30 days	100%	15 days	-25,0%	20 days	44 days	-31,8%
Average length of credit obtained suppliers		27 days	68,8%	16 days	6,7%	15 days	57 days	-52,6%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	-	days	-	days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1186 days	-
Rotation tangible assets		8535,06%	-17,3%	10322,02%	-17,4%	12498,14%	1365,08%	525,2%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		13,96%	35,4%	10,31%	-1,7%	10,49	32,74%	-57,4%
Profitability of the business		1,73	39,5%	1,24	17,0%	1,06	3,35%	-48,4%
Net profit		1,07%	161,0%	0,41%	-38,8%	0,67%	1,80%	-40,6%
More ratios
Growth rate of turnover (excluding VAT)		-16,60%	4,7%	-17,41%	-580,1%	-2,56%	0,24%	-7016,7%
Rates integration		5,16%	25,9%	4,10%	15,5%	3,55%	20,90%	-75,3%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		59,43%	-9,0%	65,34%	7,2%	60,97%	68,18%	-12,8%
Weight interests		0,55	1,9%	0,54%	80,0%	0,30%	0,26%	111,5%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		1,18%	126,9%	0,52%	-31,6%	0,76%	2,66%	-55,6%
Rates of economic profitability		21%	0%	21%	5,0%	20%	12%	75,0%
Financial profitability		488338%	8,3%	450881%	-6,5%	482054%	42874%	1039,0%
Return on investment		19,57%	23,3%	15,87%	-14,5%	18,56%	9,25%	111,6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	6 404 962	-16,6%	7 679 581	-17,4%	9 298 739	350 295 €	1728,4%

Sales of goods	6 404 962	-16,6%	7 679 581	-17,4%	9 298 739
- Purchase of goods	5 510 595	-20,0%	6 887 534	-16,5%	8 252 825
+/- Stock of goods variation	0	0%	0	0%	70 392
Trading margin	894 367 €	12,9%	792 047 €	-18,8%	975 522 €	96 470 €	827,1%
	13,96 % CA	35,4%	10,31 % CA	-1,7%	10,49 % CA	33,80 % CA	-58,7%

Sale of goods produced	0	0%	0	0%	0
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	0 €	0%	0 €	0%	0 €	7 413 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	2,38 % CA	0%

Trading margin	894 367	12,9%	792 047	-18,8%	975 522	96 470	827,1%
+ Period Production	0	0%	0	0%	0	7 413	0%
- Purchase of raw materials	78	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	563 868	18,1%	477 528	-26,0%	645 211
Added value	330 421 €	5,1%	314 519 €	-4,8%	330 311 €	80 635 €	309,8%
	5,16 % CA	25,9%	4,10 % CA	15,5%	3,55 % CA	20,90 % CA	-75,3%

Added value	330 421 €	5,1%	314 519 €	-4,8%	330 311 €	80 635 €	309,8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	23 193	65,1%	14 045	-53,9%	30 471
- Personal charges	196 362	-4,4%	205 495	2,0%	201 395
Gross operating surplus	110 866 €	16,7%	94 979 €	-3,5%	98 445 €	9 992 €	1009,5%
	1,73 % CA	39,5%	1,24 % CA	17,0%	1,06 % CA	3,35 % CA	-48,4%

Gross operating surplus	110 866 €	16,7%	94 979 €	-3,5%	98 445 €	9 992 €	1009,5%
+ Release of reserves and provisions	0	0%	5 001	9,2%	4 579
+ Other operating income	3 285	1,6%	3 232	733,0%	388
- Depreciation/Amortisation	6 680	-22,4%	8 606	0,4%	8 572
- Other charges	2 495	-36,8%	3 946	-47,0%	7 452
Operating result	104 976 €	15,8%	90 660 €	3,7%	87 388 €	7 374 €	1323,6%
	1,64 % CA	39,0%	1,18 % CA	25,5%	0,94 % CA	2,38 % CA	-31,1%

Operating result	104 976 €	15,8%	90 660 €	3,7%	87 388 €	7 374 €	1323,6%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	48 181	55,3%	31 033	-9,4%	34 258
- Financial charges	34 918	-16,0%	41 573	47,8%	28 122
Pre-tax result	118 239 €	47,6%	80 120 €	-14,3%	93 524 €	6 325 €	1769,4%
	1,85 % CA	77,9%	1,04 % CA	3,0%	1,01 % CA	2,01 % CA	-8,0%

Extraordinary income	19 149	0%	0	0%	0	02	957350,0%
- Extraordinary charges	44 516	444,3%	8 178	0%	0
Extraordinary result	-25 367 €	-210,2%	-8 178 €	0%	0 €	0 €	0%
	-0,40 % CA	-263,6%	-0,11 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	118 239 €	47,6%	80 120 €	-14,3%	93 524 €	6 325 €	1769,4%
Extraordinary result	-25 367 €	-210,2%	-8 178 €	0%	0 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	24 240	-40,5%	40 767	30,8%	31 174
Net result	68 632 €	120,2%	31 175 €	-50,0%	62 350 €	6 137 €	1018,3%
	1,07 % CA	161,0%	0,41 % CA	-38,8%	0,67 % CA	1,80 % CA	-40,6%

ADDITIONAL INFORMATION

Company details

Activity (APE)	Commerce de gros (commerce interentreprises) d'autres biens domestiques  (4649Z)
RCS Registration	RCS Paris B 341 315 091	Share capital	60,980 Euros
Registration Court	Paris (75)	Legal form	Limited Liability Company
Court Registry Number	87 B 05957	EU VAT Number	FR93341315091
Incorporation Date	05/1987	Formation Date	05/1987
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Trade name	SOFREDI	Acronym	SOFREDI
Activity (APE)	Commerce de gros (commerce interentreprises) d'autres biens domestiques  (4649Z)	Business Pages FT®	IMPORT EXPORT SOCIETE COMMERCE INTERNATIONAL
Postal Address	SOC FR EXPORTAT DISTRIBUT INDUSTRIELLE 9 RUE DU FG POISSONNIERE 75009 PARIS 9	Trading Address	9 RUE DU FG POISSONNIERE 75009 PARIS 9
Telephone	01 48 24 09 17
Fax	01 48 24 09 28

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1992	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Store
Location surface	From 300 m² to less than 400 m²	Seasonality

Department	Paris (75)	Region	Ile-de-France
District	1	Area	99
City	PARIS 9	Size of urban area	Paris conglomeration

Other establishments

Branches	1 branch entities in this company
Head office	> SOC FR EXPORTAT DISTRIBUT INDUSTRIELLE <<<  - Commerce de gros (commerce interentreprises) d'autres biens domestiques (4649Z)  in PARIS 9  (75009)
Secondary establishments

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

Workforces

Workforce at address

3 to 5 employees

Company workforce

3 to 5 employees

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
02/01/2012	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8152 - 341315091 RCS. SOCIETE FRANCAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme : Société à responsabilité limitée. Adresse : 9 rue du Faubourg Poissonnière 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
14/09/2010	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 5952 - 341315091 RCS. SOCIETE FRANCAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme : Société à responsabilité limitée. Adresse : 9 R DU FAUBOURG POISSONNIERE 75009 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
20/09/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2433 - 341315091 RCS. SOCIETE FRANCAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme : Société à responsabilité limitée. Adresse : 9 rue du Faubourg Poissonnière 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
29/09/2008	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4896 - 341315091 RCS. SOCIETE FRANCAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme : Société à responsabilité limitée. Adresse : 9 rue du Faubourg Poissonnière 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
18/12/2007	Bodacc C	Avis de dépôt des comptes
3853 - 341 315 091. RCS Paris SOCIETE FRANCAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme: Société à responsabilité limitée. Adresse du siège social: 9 rue du Faubourg Poissonnière 75009 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
05/12/2006	Bodacc C	Avis de dépôt des comptes
7844 - RCS Paris B 341 315 091. RC 87-B 5957. SOCIETE FRANÇAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme: S.A.R.L.. Adresse du siège social: 9, R du faubourg Poissonnière,Paris, 75009 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
11/02/2006	Bodacc C	Avis de dépôt des comptes
2370 - RCS Paris B 341 315 091. RC 87-B 5957. SOCIETE FRANÇAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme: S.A.R.L.. Adresse du siège social: 9, R du faubourg Poissonnière,Paris, 75009 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
19/01/2005	Bodacc C	Avis de dépôt des comptes
1189 - RCS Paris B 341 315 091. RC 87-B 5957. SOCIETE FRANÇAISE D'EXPORTATION ET DISTRIBUTION INDUSTRIELLE. Forme: S.A.R.L.. Adresse du siège social: 9, rue du faubourg,Poissonnière, 75009 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.

Company events history

Date	Description
02/01/2012	Bodacc C : Deposit accounts notice
16/12/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
14/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
20/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
29/09/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
27/06/1997	Statuts mis à jour
27/06/1997	Acte sous seing privé
27/06/1997	Cession de parts
03/02/1993	Nomination/démission des organes de gestion
03/02/1993	Changement de Gérant
03/02/1993	PV d'Assemblée
04/09/1992	Déclaration de conformité
04/09/1992	Statuts mis à jour
04/09/1992	Acte sous seing privé
04/09/1992	Cession de parts
17/07/1992	Acte sous seing privé
17/07/1992	Statuts mis à jour
17/07/1992	Déclaration de conformité
17/07/1992	Cession de parts
23/01/1992	Statuts mis à jour
23/01/1992	Augmentation de Capital
23/01/1992	Transfert du Siège dans le ressort du Tribunal de Commerce
23/01/1992	PV d'Assemblée
23/01/1992	Déclaration de conformité

Establishment events history

Date	Description
18/05/2012	Update of phone numbers
16/12/2011	Update Limit
16/12/2011	Update Rating
22/10/2011	Update Rating
22/10/2011	Update Limit
20/07/2010	Update Limit
20/07/2010	Update Rating
30/12/2009	Update Rating
06/08/2009	Update Limit
04/09/2008	Update Limit
16/12/2007	Update Limit
11/12/2007	Update Limit
09/12/2007	Update Limit
23/11/2007	Update Rating
23/11/2007	Update Limit
15/06/2007	Update of phone numbers

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.34
UK Pound	1	Rs.87.91
Euro	1	Rs.70.57

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.