MIRA INFORM REPORT

Report Date :

09.12.2013

IDENTIFICATION DETAILS

Name :	MARLYPLAST
Registered Office :	La Cornilleterie, 44440 Joue Sur Erdre
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	March 1982
Com. Reg. No.:	RCS Nantes 8 324 294 016
Legal Form :	Plc with management board
Line of Business :	· Wholesale trader of textiles such as Coated fabrics (stitching and welding) · Manufacturer of technical plastic parts
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 – September 30th, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
France	A1	A1

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

france ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 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, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures 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. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

MARLYPLAST

SIRET

324 294 016 00039

Personal comment

company summary

		EUR VAT Number	FR93324294016
Activity (APE)	Wholesale trader of textiles such as Coated fabrics (stitching and welding)	Legal form	Plc with management board
Phone	02 40 72 36 29	RCS Registration	RCS Nantes 8 324 294 016
Fax	02 40 72 35 27
Address	MARLYPLAST LA CORNILLETERIE 44440 JOUE SUR ERDRE	Incorporated Date	04/1982
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	M. SCHUELLER CHRISTIAN MARCEL
Manager position	President of the management board	Date of birth	24/01/1959
Place of birth	CHATEAUBRIANT (44110)
Type	Individual	Name at birth

Name	M. SCHUELLER PATRICK ALPHONSE GEORGES
Manager position	Managing director	Date of birth	14/08/1953
Place of birth	MULHOUSE (68050)
Type	Individual	Name at birth

Name	M. SCHUELLER ALPHONSE JEAN ALBERT
Manager position	President of the supervisory council	Date of birth	11/02/1929
Place of birth	RIXHEIM (68170)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Managing director	M PATRICK SCHUELLER	14/08/1963 - MULHOUSE
President of the management board	M CHRISTIAN SCHUELLER	24/01/1959 - CHATEAUBRIANT
President of the supervisory council	M ALPHONSE SCHUELLER	11/02/1929 - RIXHEIM

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

1,002,400 Euros

Shareholders

No Shareholders available for this company

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group information available for the company

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

Trading to Date

12/31/2012

12/31/2011

12/31/2010

Turnover

5,223,158 €

5,736,648 €

5,136,854 €

Gross Operating Surplus

0,36 % Turnover

5,49 % Turnover

3,71 % Turnover

Shareholders’ equity

4,473,682 €

4,304,176 €

4,156,018 €

Net result

156,019 €

67,751 €

211,672 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	24/09/2013	03/06/2013	17/08/2011
Activity Code	4641Z	4641Z	4641Z
Employees	0	8	7

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	69 088	-34,1%	104 787	-8,3%	114 301	19 445	255,3%
- Intangible assets	65	0%	0	0%	871	0	0%
- Tangible assets	61 817	-36,7%	97 581	-8,3%	106 397	4 637	1233,1%
- Financial assets	7 206	0%	7 206	2,5%	7 031	1 380	422,2%
Net current assets	5 371 222	-0,8%	5 415 755	4,8%	5 166 579	200 737	2575,8%
- Stocks	1 165 450	10,7%	1 053 270	101,5%	522 770	40 000	2813,6%
- Advanced payments	0	-0,8%	0	0%	0	0	0%
- Receivables	705 505	-14,1%	821 717	16,8%	703 385	67 708	942,0%
- Securities and cash	3 500 267	-1,1%	3 540 764	-10,1%	3 940 424	24 767	14032,8%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	5 440 312	-1,5%	5 520 542	4,5%	5 280 879	254 342	2039,0%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Shareholders' equity	4 473 682	3,9%	4 304 176	3,6%	4 156 018	64 266	6861,2%
Share capital	1 002 400	0%	1 002 400	0%	1 002 400	11 500	8616,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	34 765	0%	0	0%	51 553	0	0%
Liabilities	931 865	-23,4%	1 216 362	13,3%	1 073 305	171 305	444,0%
- Financial liabilities	0	0%	0	0%	1 437	17 604	0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	635 397	-31,4%	926 572	9,9%	842 846	47 789	1229,6%
- Tax and social liabilities	270 804	-1,0%	273 599	43,2%	191 048	33 445	709,7%
- Other debts and fixed assets liabilities	25 664	58,5%	16 191	-57,4%	37 973	4 688	447,4%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	5 440 312	-1,5%	5 520 541	4,5%	5 280 879	254 340	2039,0%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Sales of Goods	5 588 077	-5,5%	5 914 921	4,7%	5 647 440	414 128	1249,4%
Net turnover	5 223 158	-9,0%	5 736 648	11,7%	5 136 854	399 923	1206,0%
- of which net export turnover	0	0%	0	0%	0	0	0%
Operating charges	5 537 898	-5,8%	5 877 407	10,0%	5 342 674	415 142	1234,0%
Operating profit/loss	50 179	33,8%	37 514	-87,7%	304 766	6 277	699,4%
Financial income	211 491	28,5%	164 559	41,0%	116 677	08	2643537,5%
Financial charges	58 093	98,6%	29 258	-67,9%	91 248	1 138	5004,8%
Financial profit/loss	153 398	13,4%	135 301	432,1%	25 429	-211	72800,5%
Pretax net operating income	203 577	17,8%	172 815	-47,7%	330 198	4 315	4617,9%
Extraordinary income	4 364	6,5%	4 096	0%	4 096	0	0%
Extraordinary charges	17 583	-79,2%	84 501	218,1%	26 561	126	13854,8%
Extraordinary profit/loss	-13 219	83,6%	-80 405	-257,9%	-22 465	0	0%
Net result	156 019	130,3%	67 751	-68,0%	211 672	4 869	3104,3%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2012	31/12/2011	31/12/2010
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to VI)	Net	5 440 312	-1,5%	5 520 542	4,5%	5 280 879
Gross	CO	6 390 526	-2,3%	6 539 660	7,9%	6 058 807
Amortisation	1A	950 214	-6,8%	1 019 118	31,0%	777 928

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2012		31/12/2011		31/12/2010
Total Active fixed asset (II)	Net	69 088	-34,1%	104 787	-8,3%	114 301
Gross	BJ	705 029	-0,8%	710 958	4,2%	682 617
Amortisation	BK	635 941	4,9%	606 171	6,7%	568 316

Intangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	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	65	0%	0	0%	871
	Gross	AF	2 216	11,1%	1 995	0%	1 995
	Amortisation	AG	2 151	7,8%	1 995	77,5%	1 124
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	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	65	0%	0	0%	871

Tangible fixed assets

		31/12/2012		31/12/2011		31/12/2010
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%	417	-92,3%	5 425
Gross	AP	247 191	0%	247 191	0%	247 191
Amortisation	AQ	247 191	0,2%	246 774	2,1%	241 766
Plant	Net	30 495	-47,0%	57 492	9,7%	52 397
Gross	AR	316 557	-1,9%	322 707	9,6%	294 539
Amortisation	AS	286 062	7,9%	265 215	9,5%	242 142
Other tangible fixed assets	Net	31 322	-21,0%	39 672	-18,3%	48 575
Gross	AT	131 859	0%	131 859	0%	131 859
Amortisation	AU	100 537	9,1%	92 187	10,7%	83 284
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	61 817		97 581		106 397

Financial assets

		31/12/2012		31/12/2011		31/12/2010
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	7 206	0%	7 206	2,5%	7 031
Gross	BD	7 206	0%	7 206	2,5%	7 031
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	0	0%	0	0%	0
Gross	BH	0	0%	0	0%	0
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		7 206		7 206		7 031

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2010
Total Assets	Net	5 371 222	-0,8%	5 415 755	4,8%	5 166 579
Gross	CJ	5 685 493	-2,5%	5 828 699	8,4%	5 376 186
Amortisation	CK	314 271	-23,9%	412 944	97,0%	209 607

Stocks

		31/12/2012		31/12/2011		31/12/2010
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	1 165 450	10,7%	1 053 270	101,5%	522 770
Gross	BT	1 389 100	-1,6%	1 411 528	104,1%	691 488
Amortisation	BU	223 650	-37,6%	358 258	112,3%	168 718
Sub Total Stocks	Net	1 165 450	10,7%	1 053 270	101,5%	522 770

Advance payments to suppliers

		31/12/2012		31/12/2011		31/12/2010
Advance payments to suppliers	Net	0	0%	0	0%	0
Gross	BV	0	0%	0	0%	0
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2012		31/12/2011		31/12/2010
Trade accounts receivable	Net	667 260	-5,0%	702 338	26,6%	554 988
Gross	BX	757 881	0,1%	757 024	27,0%	595 877
Amortisation	BY	90 621	65,7%	54 686	33,7%	40 889
Other debtors	Net	24 245	-74,5%	95 008	-20,4%	119 290
Gross	BZ	24 245	-74,5%	95 008	-20,4%	119 290
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	691 505	-13,3%	797 346	18,3%	674 278

Divers

		31/12/2012		31/12/2011		31/12/2010
Investment securities	Net	0	0%	116 440	0%	116 440
Gross	CD	0	0%	116 440	0%	116 440
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	3 500 267	2,2%	3 424 324	-10,5%	3 823 984
Gross	CF	3 500 267	2,2%	3 424 324	-10,5%	3 823 984
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	3 500 267	-1,1%	3 540 764	-10,1%	3 940 424

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2010
Prepaid expenses	Net	14 000	-42,6%	24 371	-16,3%	29 107
Gross	CH	14 000	-42,6%	24 371	-16,3%	29 107
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

31/12/2012

31/12/2011

31/12/2010

Multi-period charges

CW3

0

0%

0

0%

0

Gross

0

0%

0

0%

0

Premiums on redemption of bonds

CM3

0

0%

0

0%

0

Gross

0

0%

0

0%

0

Currency differential gain

CN3

0

0%

0

0%

0

Gross

0

0%

0

0%

0

References

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to V)	EE	5 440 312	-1,5%	5 520 541	4,5%	5 280 879

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2010
Total shareholders' equity (Total I)	DL	4 473 682	3,9%	4 304 176	3,6%	4 156 018
Equity and shareholders' equity	DA	1 002 400	0%	1 002 400	0%	1 002 400
Issue and merger premiums	DB	572 392	0%	572 392	0%	572 392
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	100 240	0%	100 240	0%	100 240
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	2 499 618	2,8%	2 431 867	26,2%	1 927 334
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	0	0%	0	0%	292 859
Profit or loss for the period	DI	156 019	130,3%	67 751	-68,0%	211 672
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	143 013	10,4%	129 526	163,7%	49 121

Other capital resources (II)

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Total provisions for risks and charges (Total III)	DR	34 765	0%	0	0%	51 553
Risk provisions	DP	34 765	0%	0	0%	51 553
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2010
Total Liabilities (Total IV)	EC	931 865	-23,4%	1 216 362	13,3%	1 073 305
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	0	0%	0	0%	1 437
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	0	0%	0	0%	0
Trade accounts payables	DX	635 397	-31,4%	926 572	9,9%	842 846
Tax and social security liabilities	DY	270 804	-1,0%	273 599	43,2%	191 048
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	25 664	58,5%	16 191	-57,4%	37 973

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	1 073 305
Of which current bank facilities	EH	0	0%	0	0%	1 437

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)

		31/12/2012		31/12/2011		31/12/2010
Operating result (Total I-II)	GG	50 179	33,8%	37 514	-87,7%	304 766

2 - Financial result (V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	153 398	13,4%	135 301	432,1%	25 429

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

		31/12/2012		31/12/2011		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	203 577	17,8%	172 815	-47,7%	330 198

4 - Extraordinary result (VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	-13 219	83,6%	-80 405	-257,9%	-22 465

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	156 019	130,3%	67 751	-68,0%	211 672

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	5 803 932	-4,6%	6 083 576	5,5%	5 768 213

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

		31/12/2012		31/12/2011		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	5 647 912	-6,1%	6 015 825	8,3%	5 556 542

Operating income (I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	5 588 077	-5,5%	5 914 921	4,7%	5 647 440

Operating income (details)

		31/12/2012		31/12/2011		31/12/2010
Sale of goods for resale	FC	5 141 468	-9,1%	5 656 470	11,9%	5 056 526
France	FA	5 141 468	-9,1%	5 656 470	11,9%	5 056 526
Export	FB	0	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	81 690	1,9%	80 178	-0,2%	80 328
France	FG	81 690	1,9%	80 178	-0,2%	80 328
Export	FH	0	0%	0	0%	0
Net turnover	FL	5 223 158	-9,0%	5 736 648	11,7%	5 136 854
France	FJ	5 223 158	-9,0%	5 736 648	11,7%	5 136 854
Export	FK	0	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	364 903	104,8%	178 214	-65,1%	510 578
Other income	FQ	16	-72,9%	59	637,5%	08

Operating charges (II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	5 537 898	-5,8%	5 877 407	10,0%	5 342 674

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	3 243 274	-22,2%	4 166 836	31,8%	3 162 467
Change in stocks of goods for resale	FT	22 428	103,1%	-720 040	-1660,7%	-40 896
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	928 090	-3,7%	963 828	6,3%	906 487
Tax, duty and similar payments	FX	30 714	-11,0%	34 524	21,7%	28 357
Payroll	FY	639 790	0,0%	639 978	9,1%	586 819
Social security costs	FZ	340 255	1,1%	336 640	11,1%	303 016

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	29 769	-21,4%	37 855	-27,4%	52 143
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	266 228	-30,2%	381 415	116,9%	175 820
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	37 350	2,7%	36 371	-78,4%	168 458

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	211 491	28,5%	164 559	41,0%	116 677
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	121	-37,3%	193	171,8%	71
Other interest and similar income	GL	93 140	-6,1%	99 224	4,4%	94 997
Released provisions and transferred charges	GM	0	0%	51 553	138,6%	21 609
Exchange gains	GN	52 098	283,4%	13 589	0%	0
Net income from disposal of investment securities	GO	66 132	0%	0	0%	0

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2010
Total financial charge (Total VI)	GU	58 093	98,6%	29 258	-67,9%	91 248
Financial reserves and provisions	GQ	34 764	0%	0	0%	0
Interest and similar charges	GR	23 329	-20,3%	29 258	-45,5%	53 688
Exchange losses	GS	0	0%	0	0%	37 560
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary income (Total VII)	HD	4 364	6,5%	4 096	0%	4 096
Extraordinary operating income	HA	268	0%	0	0%	0
Extraordinary income from capital transactions	HB	0	0%	0	0%	0
Released provisions and transferred charges	HC	4 096	0%	4 096	0%	4 096

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary charges (Total VIII)	HH	17 583	-79,2%	84 501	218,1%	26 561
Extraordinary operating charges	HE	0	0%	0	0%	166
Extraordinary charges from capital transactions	HF	0	0%	84 501	0%	0
Extraordinary reserves and provisions	HG	17 583	0%	0	0%	26 395

Employee profit sharing (IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	34 338	39,3%	24 659	-74,3%	96 059

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter

Currency

Euro

Kilo Euro

Other incomes 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)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increases due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreases by budget item transfer	OK1	0	0%	0	0%	0
Decreases by transfers	OK2	0	0%	0	0%	0
Gross value at the end of period	OL	0	0%	0	0%	0

Research and development Charge (Total I)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	CZ	0	0%	0	0%	0
Increases due to revaluation	KB	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreases by budget item transfer	C01	0	0%	0	0%	0
Decreases 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)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	KD	0	0%	0	0%	0
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	0	0%	0	0%	0
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	0	0%	0	0%	0

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LN	0	0%	0	0%	0
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	0	0%	0	0%	0
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	0	0%	0	0%	0
Gross value at the end of period	NH	0	0%	0	0%	0

Financial assets (Total IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LQ	0	0%	0	0%	0
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	0	0%	0	0%	0
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	0	0%	0
Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreases		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)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreases		PC	0	0%	0	0%	0
	Decreases by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreases		PG	0	0%	0	0%	0
	Decreases by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amortisation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	0
Increases		QV	0	0%	0	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreases by budget item transfer	QX	0	0%	0	0%	0

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	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
	Decreases by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2012		31/12/2011		31/12/2010
	Net value at beginning 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)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7C	542 473	74,8%	310 282	-51,9%	644 783
Increases		UB	318 575	-31,6%	465 917	130,9%	201 784
Decreases		UC	368 999	57,9%	233 727	-56,4%	536 284
	Value at the end of period	UD	492 049	-9,3%	542 472	74,8%	310 283

Includes Total allocations

Operating	UE	266 228	-30,2%	381 415	116,9%	175 821
Financial	UG	34 764	0%	0	0%	0
Exceptional	UJ	17 583	-79,2%	84 502	225,5%	25 963

Includes Total Withdrawal

Operating	UF	364 903	104,9%	178 078	-65,1%	510 579
Financial	UH	0	0%	51 553	138,6%	21 609
Exceptional	UK	4 096	0%	4 096	0%	4 096

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	3Z	129 527	163,7%	49 121	80,2%	27 254
Increases		TS	17 583	-79,2%	84 502	225,5%	25 963
Decreases		TT	4 096	0%	4 096	0%	4 096
	Value at the end of period	TU	143 014	10,4%	129 527	163,7%	49 121

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	5Z	0	0%	51 553	-29,5%	73 163
Increases		TV	34 764	0%	0	0%	0
Decreases		TW	0	0%	51 553	138,6%	21 609
	Value at the end of period	TX	34 764	0%	0	0%	51 554

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7B	412 946	97,0%	209 608	-61,5%	544 366
Increases		TY	266 228	-30,2%	381 415	116,9%	175 821
Decreases		TZ	364 903	104,9%	178 078	-65,1%	510 579
	Value at the end of period	UA	314 271	-23,9%	412 945	97,0%	209 608

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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	0	0%	0	0%	744 274
1 year at most	VU	0	0%	0	0%	744 274
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	595 877
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
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	0	0%	0	0%	119 290

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	0	0%	0	0%	29 107

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	931 864	0%	0	0%	1 073 305
1 year at most		VZ2	931 864	0%	0	0%	1 073 305
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

31/12/2012

31/12/2011

31/12/2010

Convertible bonds (gross)

7Y1

0

0%

0

0%

0

1 year at most

7Y2

0

0%

0

0%

0

More than 1 year and 5 years at most

7Y3

0

0%

0

0%

0

Other bonds (gross)

7Z1

0

0%

0

0%

0

1 year at most

7Z2

0

0%

0

0%

0

More than 1 year and 5 years at most

7Z3

0

0%

0

0%

0

Borrowing & debts to 1 year maximum at the origin (gross)

VG1

0

0%

0

0%

1 437

1 year at most

VG2

0

0%

0

0%

1 437

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%

0

More than 1 year and 5 years at most

VH3

0

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

922 186

0%

0

0%

842 846

1 year at most

8B2

922 186

0%

0

0%

842 846

More than 1 year and 5 years at most

8B3

922 186

0%

0

0%

842 846

Personnel and associated accounts (gross)

8C1

0

0%

0

0%

0

1 year at most

8C2

0

0%

0

0%

0

More than 1 year and 5 years at most

8C3

0

0%

0

0%

0

Social Security and other social organizations (gross)

8D1

0

0%

0

0%

0

1 year at most

8D2

0

0%

0

0%

0

More than 1 year and 5 years at most

8D3

0

0%

0

0%

0

Taxes on profits (gross)

8E1

0

0%

0

0%

0

1 year at most

8E2

0

0%

0

0%

0

More than 1 year and 5 years at most

8E3

0

0%

0

0%

0

VAT (gross)

VW1

0

0%

0

0%

0

1 year at most

VW2

0

0%

0

0%

0

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%

191 048

1 year at most

VQ2

0

0%

0

0%

191 048

More than 1 year and 5 years at most

VQ3

0

0%

0

0%

0

Assets and liabilities associated accounts (gross)

8J1

0

0%

0

0%

0

1 year at most

8J2

0

0%

0

0%

0

More than 1 year and 5 years at most

8J3

0

0%

0

0%

0

More than 5 years

8J4

0

0%

0

0%

0

Groups and associates (gross)

VI1

0

0%

0

0%

0

1 year at most

VI2

0

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

9 678

0%

0

0%

37 973

1 year at most

8K2

9 678

0%

0

0%

37 973

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

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2012		31/12/2011		31/12/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	0	0%	08	14,3%	07

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
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

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Fixed Asset Financing	7,30	5,6%	6,91	-1,3%	7	3,02	141,7%
Global Debt	64 days	-15,8%	76 days	1,3%	75 days	126 days	-49,2%
Working Capital Fund overall net	306 days	15,9%	264 days	-8,0%	287 days	78,50 days	289,8%
Financial independence	%	-	%	-	289214,89%	375,42%	-
More ratios
Solvability	82,23%	5,5%	77,97%	-0,9%	78,70%	32,24%	155,1%
Capacity debt futures	%	-	%	-	289214,89%	852,19%	-
Coverage of current assets by net working capital overall	78,27%	10,3%	70,93%	-5,3%	74,92%	44,51%	75,8%
General Liquidity	0	-		-	0,69	0,59	0%
Restricted Liquidity	3,76	-		-	4,36	0,97	287,6%

Management or rotation

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Need background in operating working capital	64 days	60,0%	40 days	344,4%	9 days	37 days	73,0%
Treasury	241 days	8,6%	222 days	-19,6%	276 days	9,50 days	2436,8%
Inventory turnover of goods	153 days	4,1%	147 days	83,8%	80 days	85,50 days	78,9%
Average length of credit granted to customers	52 days	8,3%	48 days	14,3%	42 days	50 days	4,0%
Average length of credit obtained suppliers	55 days	-27,6%	76 days	1,3%	75 days	58 days	-5,2%
More ratios
Inventory turnover of raw materials in industrial enterprises	days	-	days	-	days	0 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	days	-	days	1062 days	-
Rotation tangible assets	%	-	%	-	%	2033,10%	-

Profitability of the business

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Margin trading	35,91%	-6,8%	38,52%	2,3%	37,67	29,05%	23,6%
Profitability of the business	0,36	-93,4%	5,49	48,0%	3,71	2,67%	-86,5%
Net profit	2,99%	153,4%	1,18%	-71,4%	4,12%	1,40%	113,6%
More ratios
Growth rate of turnover (excluding VAT)	-8,95%	-176,6%	11,68%	46,2%	7,99%	0%	0%
Rates integration	19,71%	-14,7%	23,11%	7,0%	21,59%	18,75%	5,1%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	95,21%	29,3%	73,65%	-8,2%	80,25%	66,51%	43,2%
Weight interests	1,11	117,6%	0,51%	-71,3%	1,78%	0,29%	282,8%

Return on capital

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Cash flow from the overall profitability	-2,51%	-230,3%	-0,76%	84,1%	-4,79%	2%	-225,5%
Rates of economic profitability	0%	0%	7%	40,0%	5%	10%	0%
Financial profitability	4473682%	3,9%	4304176%	3,6%	4156018%	45437%	9745,9%
Return on investment	4,79%	112,9%	2,25%	-69,1%	7,29%	7,96%	-39,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Turnover	5 223 158	-9,0%	5 736 648	11,7%	5 136 854	399 923 €	1206,0%

Sales of goods	5 141 468	-9,1%	5 656 470	11,9%	5 056 526
- Purchase of goods	3 243 274	-22,2%	4 166 836	31,8%	3 162 467
+/- Stock of goods variation	22 428	103,1%	-720 040	-1660,7%	-40 896
Trading margin	1 875 766 €	-15,1%	2 209 674 €	14,2%	1 934 955 €	86 836 €	2060,1%
	35,91 % CA	-6,8%	38,52 % CA	2,3%	37,67 % CA	30,66 % CA	17,1%

Sale of goods produced	81 690	1,9%	80 178	-0,2%	80 328
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	81 690 €	1,9%	80 178 €	-0,2%	80 328 €	7 846 €	941,2%
	1,56 % CA	11,4%	1,40 % CA	-10,3%	1,56 % CA	2,76 % CA	-43,5%

Trading margin	1 875 766	-15,1%	2 209 674	14,2%	1 934 955	86 836	2060,1%
+ Period Production	81 690	1,9%	80 178	-0,2%	80 328	7 846	941,2%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	928 090	-3,7%	963 828	6,3%	906 487
Added value	1 029 366 €	-22,4%	1 326 024 €	19,6%	1 108 796 €	82 624 €	1145,8%
	19,71 % CA	-14,7%	23,11 % CA	7,0%	21,59 % CA	18,75 % CA	5,1%

Added value	1 029 366 €	-22,4%	1 326 024 €	19,6%	1 108 796 €	82 624 €	1145,8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	30 714	-11,0%	34 524	21,7%	28 357
- Personal charges	980 045	0,4%	976 618	9,8%	889 835
Gross operating surplus	18 607 €	-94,1%	314 882 €	65,2%	190 604 €	8 815 €	111,1%
	0,36 % CA	-93,4%	5,49 % CA	48,0%	3,71 % CA	2,67 % CA	-86,5%

Gross operating surplus	18 607 €	-94,1%	314 882 €	65,2%	190 604 €	8 815 €	111,1%
+ Release of reserves and provisions	364 903	104,8%	178 214	-65,1%	510 578
+ Other operating income	16	-72,9%	59	637,5%	08
- Depreciation/Amortisation	295 997	-29,4%	419 270	83,9%	227 963
- Other charges	37 350	2,7%	36 371	-78,4%	168 458
Operating result	50 179 €	33,8%	37 514 €	-87,7%	304 769 €	6 276 €	699,5%
	0,96 % CA	47,7%	0,65 % CA	-89,0%	5,93 % CA	1,83 % CA	-47,5%

Operating result	50 179 €	33,8%	37 514 €	-87,7%	304 769 €	6 276 €	699,5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	211 491	28,5%	164 559	41,0%	116 677
- Financial charges	58 093	98,6%	29 258	-67,9%	91 248
Pre-tax result	203 577 €	17,8%	172 815 €	-47,7%	330 198 €	4 315 €	4617,9%
	3,90 % CA	29,6%	3,01 % CA	-53,2%	6,43 % CA	1,50 % CA	160,0%

Extraordinary income	4 364	6,5%	4 096	0%	4 096	0	0%
- Extraordinary charges	17 583	-79,2%	84 501	218,1%	26 561
Extraordinary result	-13 219 €	83,6%	-80 405 €	-257,9%	-22 465 €	0 €	0%
	-0,25 % CA	82,1%	-1,40 % CA	-218,2%	0 % CA	0 % CA	0%

Pre-tax result	203 577 €	17,8%	172 815 €	-47,7%	330 198 €	4 315 €	4617,9%
Extraordinary result	-13 219 €	83,6%	-80 405 €	-257,9%	-22 465 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	34 338	39,3%	24 659	-74,3%	96 059
Net result	156 020 €	130,3%	67 751 €	-68,0%	211 674 €	4 870 €	3103,7%
	2,99 % CA	153,4%	1,18 % CA	-71,4%	4,12 % CA	1,39 % CA	115,1%

ADDITIONAL INFORMATION

Company details

Activity (APE)	Wholesale trader of textiles such as Coated fabrics (stitching and welding)	Activity (APRM)	Manufacture of technical plastic parts
RCS Registration	RCS Nantes 8 324 294 016	Share capital	1,002,400 Euros
Registration Court	Nantes (44)	Legal form	Plc with management board
Court Registry Number	19 8 2B00177	EUR VAT Number	FR93324294016
Incorporation Date	04/1982	Formation Date	03/1982
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Wholesale trader of textiles such as Coated fabrics (stitching and welding)	Business Pages FT®
Postal Address	MARLYPLAST LA CORNILLETERIE 44440 JOUE SUR ERDRE	Trading Address	LA CORNILLETERIE 44440 JOUE SUR ERDRE
Telephone	02 40 72 36 29
Fax	02 40 72 35 27

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1989	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Loire-Atlantique (44)	Region	Pays de La Loire
District	4	Area	33
City	JOUE SUR ERDRE	Size of urban area	Establishment in a rural municipality

Other establishments

Branches	1 branch entities in this company
Head office	> MARLYPLAST <<<  - Commerce de gros (commerce interentreprises) de textiles (4641Z)  in JOUE SUR ERDRE  (44440)
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	6 to 9 employees	Company workforce	6 to 9 employees
Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
23/09/2013	Bodacc C	Comptes annuels et rapports
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 4242 - 324294016 RCS. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 44440 Joué-sur-Erdre. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
22/09/2013	Bodacc B	Modification et mutation diverse
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 405 - 324 294 016 RCS Nantes. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Administration : modification du Commissaire aux comptes titulaire CABINET GUILLET BOUJU ASSOCIES, modification du Commissaire aux comptes suppléant Pele, Jacky, nomination du Commissaire aux comptes suppléant : Bouju, Nicolas Pierre Maurice. Capital : 1002400 EUR. Activité : . Adresse du siège social : La Cornilleterie, 44440 Joué-sur-Erdre. Commentaires : modification survenue sur l'administration.
28/08/2012	Bodacc C	Comptes annuels et rapports
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 4458 - 324294016 RCS. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 44440 Joué-sur-Erdre. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
09/09/2010	Bodacc C	Comptes annuels et rapports
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 4364 - 324294016 RCS. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : la Cornilleterie 44440 Joue Sur Erdre. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
31/08/2009	Bodacc C	Comptes annuels et rapports
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 7704 - 324294016 RCS. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : la Cornilleterie 44440 Joué-sur-Erdre. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
23/08/2008	Bodacc C	Comptes annuels et rapports
44 - LOIRE-ATLANTIQUE GREFFE DU TRIBUNAL DE COMMERCE DE NANTES 5212 - 324294016 RCS. MARLYPLAST. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : la Cornilleterie 44440 Joué-sur-Erdre. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
14/11/2007	Bodacc C	Avis de dépôt des comptes
4087 - 324 294 016. RCS Nantes MARLYPLAST. Forme: Société anonyme à directoire et conseil de surveillance. Adresse du siège social: la Cornilleterie 44440 Joué-sur-Erdre. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
10/09/2006	Bodacc C	Avis de dépôt des comptes
849 - RCS Nantes B 324 294 016. RC 82-B 177. MARLYPLAST. Forme: S.A. à directoire. . Adresse du siège social: la Cornilleterie,44440 Joué-sur-Erdre. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
11/12/2005	Bodacc B	Modifications et mutations diverses
1443 - RCS Nantes B 324 294 016. RC 82-B 177. MARLYPLAST. Forme : S.A. à directoire. Capital : 1 002 400 euros. Adresse du siège social : La Cornilleterie,, 44440 Administration : président du directoire : SCHUELLER (Christian, Marcel). Président du conseil de surveillance : SCHUELLER (Alphonse, Jean, Albert). Vice-président du conseil de surveillance : Mme SCHUELLER, née GEORGES (Isabelle, Louisette, Renée). Directeur général : SCHUELLER (Patrick, Alphonse, Georges). Membre du conseil de surveillance : Mme SCHUELLER, née BEDIER (Patricia, Huguette, Yvonne). Commissaire aux comptes titulaire : CABINET PELE BRODU GUILLET PINEL. Commissaire aux comptes suppléant : PELE (Jacky). Ancienne administration : ancien vice-président du conseil de surveillance : Mme SCHUELLER, née BEDIER (Patricia, Huguette). Etablissement principal - Activité : import-export, achat, vente, représentation, fabrication, transformation et commercialisation de tous produits dérivés de l'industrie de la chaussure maroquinerie, vêtements, ameublement, bâtiment, automobile, bateau et avion . Adresse : La Cornilleterie, 44440 Date d'effet : 30 juin 2005.
14/08/2005	Bodacc C	Avis de dépôt des comptes
592 - RCS Nantes B 324 294 016. RC 82-B 177. MARLYPLAST. Forme: S.A. à directoire. . Adresse du siège social: la Cornilleterie,44440 Joué-sur-Erdre. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
11/09/2003	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Nantes B 324294016 RC 82-B 177 MONDIALPLAST. Forme : S.A.R.L. Capital : 250 000 euros. Adresse : La Cornilleterie, 44440 Joué-sur-Erdre. Administration : président du directoire : SCHUELLER ( Christian, Marcel). Président du conseil de surveillance : SCHUELLER ( Alphonse, Jean, Albert). Vice-président du conseil de surveillance : M m e SCHUELLER, née BEDIER (Patricia, Huguette, Yvonne). Directeur général : SCHUELLER (Patrick, Alphonse, Georges). Membre du conseil de surveillance : M m e GEORGES (Isabelle, Louisette, Renée). Commissaire aux comptes titulaire : NICOL PELE BRODU. Commissaire aux comptes suppléant : PELE (Jacky). Ancien gérant : SCHUELLER (Christian) Nouvelle situation du siège social dénomination: MARLYPLAST. Forme : S.A. à directoire. Capital : 1 002 400 euros Etablissement principal: Activité : commercialisation, fabrication de tous produits destinés à l'industrie de la chaussure, de la maroquinerie, du vetement, de l'ameublement, du batiment, de l'automobile, des bateaux et des avions. Adresse : La Cornilleterie, 44440 Joué-sur-Erdre ETABLISSEMENT PRINCIPAL nouvelle situation. Activité : import-export, achat, vente, représentation, fabrication, transformation et commercialisation de tous produits dérivés de l'industrie de la chaussure maroquinerie, vetements, ameublement, batiment, automobile, bateau et avion. Date d'effet : 25 juin 2003.
31/03/2002	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Nantes B 324294016 RC 82-B 177 MONDIALPLAST. Forme : S.A.R.L. Capital : 1 250 000 F. Adresse : La Cornilleterie, 44440 Joué-sur-Erdre Nouvelle situation du siège social. Capital : 250 000 euros Etablissement principal: Activité : commercialisation, fabrication de tous produits destinés à l'industrie de la chaussure, de la maroquinerie, du vetement, de l'ameublement, du batiment, de l'automobile, des bateaux et des avions. Adresse : La Cornilleterie, 44440 Joué-sur-Erdre. Date d'effet : 29 décembre 2001.

Company events history

Date	Description
15/10/2013	Update Limit
15/10/2013	Update Rating
25/09/2013	Update Rating
25/09/2013	Update Limit
25/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
23/09/2013	Bodacc C : Deposit accounts notice
22/09/2013	Bodacc B: Various editing or changing
06/09/2013	New auditor
06/09/2013	Amendment
04/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
28/08/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
30/08/2011	Bodacc C : Deposit accounts notice
19/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
09/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
31/08/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
23/08/2008	Bodacc C : Deposit accounts notice
04/02/2008	Modification of Company Activity
04/02/2008	Update of Company Activity
31/12/2006	New accounts available
31/12/2005	New accounts available
22/11/2005	Private document
22/11/2005	Private document
22/11/2005	Minutes of general meeting of shareholders
22/11/2005	Acte modificatif
22/11/2005	Minutes of general meeting of shareholders
22/11/2005	Appointment/resignation of company officers
22/11/2005	Appointment/resignation of company officers
22/11/2005	Nomination/démission des organes de gestion
31/12/2004	New accounts available
31/12/2003	New accounts available
01/09/2003	Changement de dénomination sociale
01/09/2003	PV d'Assemblée
01/09/2003	Modification de l'objet social
01/09/2003	Augmentation de Capital
01/09/2003	Expédition acte notarié
01/09/2003	Changement de Forme Juridique sans changement de catégorie
01/09/2003	Nomination/démission des organes de gestion
01/09/2003	Déclaration de conformité
01/09/2003	Statuts mis à jour
13/06/2003	Acte sous seing privé
13/06/2003	Rapport des Commissaires ou du Gérant
13/05/2003	Projet de Fusion
13/05/2003	Expédition acte notarié
24/04/2003	Requête et Ordonnance
19/03/2002	Conversion du Capital Social en Euros
19/03/2002	Acte sous seing privé
19/03/2002	PV d'Assemblée
19/03/2002	Statuts mis à jour
19/03/2002	Augmentation de Capital
26/04/1993	Acte sous seing privé
26/04/1993	Acte modificatif
26/04/1993	Rapport des Commissaires ou du Gérant
26/04/1993	Statuts mis à jour
26/04/1993	PV d'Assemblée
26/04/1993	Augmentation de Capital
26/04/1993	Déclaration de conformité
01/01/1993	Requête et Ordonnance
22/12/1992	Rapport des Commissaires ou du Gérant
22/12/1992	Acte modificatif

Establishment events history

Date	Description
25/09/2013	Update Rating
25/09/2013	Update Limit
10/09/2013	Update Rating
04/06/2013	Update Rating
04/06/2013	Update Limit
29/10/2012	Update Rating
29/10/2012	Update Limit
19/08/2011	Update Limit
29/10/2010	Update Rating
29/10/2010	Update Limit
27/09/2010	Update Rating
19/08/2009	Update Rating
19/08/2009	Update Limit
28/09/2008	Update Rating
01/03/2008	Update Rating
21/02/2008	Update Limit
04/02/2008	Update of Establishment Activity
04/02/2008	Modification of Head office Activity
16/12/2007	Update Limit
10/12/2007	Update Limit
08/12/2007	Update Limit
11/04/2007	Update Limit
11/04/2007	Update Rating
25/01/2007	Update Limit
25/01/2007	Update Rating
20/01/2007	Update Limit
20/01/2007	Update Rating

NOTES & COMMENTS

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

	The pre-tax profit is more than 25,000€
	The shareholder's equity is more than 250,000€
	The ratio total assets to total liabilities is 5,63
	The return on total assets employed is positive
	Industry code with low risk rating
	The company is 31 years old
	The tangible fixed assets are 61,817 €
	The debtor days are 49.30
	The deviation of shareholder's equity over the past two years is less than 75%
	The sales to current assets ratio is 0,97
	The liquidity acid test is less than 65%
	The deviation of the current ratio over the past two years is less than 80%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.67
UK Pound	1	Rs.100.65
Euro	1	Rs.84.25

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.