MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	I.M PRODUCTION
Registered Office :	7 Rue Herold, 50 Rue Croix Des Petits Champs, 75001 Paris 1
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	June 1995
Com. Reg. No.:	RCS Paris 9 403 243 058
Legal Form :	Simplified Joint Stock Company
Line of Business :	Wholesaler of Clothing and shoes
No. of Employees :	100 to 199 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 – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

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

I.M PRODUCTION

SIRET

403 243 058 00076

Company Summary

		EUR VAT Number	FR88403243058
Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) (Wholesale (intercompany trade) Clothing and shoes (4642Z))	Legal form	Simplified joint stock company
Phone		RCS Registration	RCS Paris 9 403 243 058
Fax
Address	I.M PRODUCTION 7 RUE HEROLD 50 RUE CROIX DES PETITS CHAMPS 75001 PARIS 1	Incorporated Date	12/1995
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Current Directors

2

Directors

Name	Mme. MARANT ISABEL
Manager position	President	Date of birth	12/04/1967
Place of birth	BOULOGNE (92100)
Type	Individual	Name at birth

Name	Mme. DURUFLE SOPHIE
Manager position	Managing director	Date of birth	10/05/1967
Place of birth	ANTONY (92160)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	MME ISABEL MARANT	12/04/1967 - BOULOGNE
President	Mme ISABEL MARANT	12/04/1967 - BOULOGNE (92100)
Managing director	Mme SOPHIE DURUFLE	10/05/1967 - ANTONY (92160)

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

550,000 Euros

GROUP STRUCTURE & AFFILIATED COMPANIES

Linkages

No linked companies

FINANCIAL INFORMATION

Trading to Date

12/31/2010

12/31/2008

12/31/2007

Turnover

44,267,086 €

25,329,236 €

19,728,130 €

Gross Operating Surplus

22,53 % Turnover

16,86 % Turnover

18,75 % Turnover

Shareholders’ equity

14,004,994 €

8,240,063 €

6,393,941 €

Net result

6,116,232 €

2,846,402 €

2,599,958 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	08/08/2011	-	-
Activity Code	4642Z	4642Z	4642Z
Employees	0	70	48

Active account

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 399 979	95,0%	717 756	5,1%	682 829	38 916	3497,4%
- Intangible assets	284 075	97,3%	143 980	7,8%	133 522	3 655	7672,2%
- Tangible assets	913 146	110,6%	433 672	5,1%	412 620	5 183	17518,1%
- Financial assets	202 754	44,7%	140 101	2,5%	136 688	5 513	3577,7%
Net current assets	25 965 262	102,0%	12 851 903	24,8%	10 296 375	204 877	12573,6%
- Stocks	5 546 494	49,8%	3 702 150	15,1%	3 216 531	47 978	11460,5%
- Advanced payments	143 838	102,0%	79 846	0%	0	0	0%
- Receivables	7 207 377	110,6%	3 421 787	27,5%	2 684 123	60 460	11820,9%
- Securities and cash	13 067 553	131,4%	5 648 116	28,5%	4 395 721	31 856	40920,7%
- Prepaid expenses	-	-	-	-	-	54	-
Accounts of regularization	753	0%	0	0%	0	0	0%
Total Assets	27 365 995	101,7%	13 569 660	23,6%	10 979 205	278 948	9710,4%

Passive Account

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Shareholders' equity	14 004 994	70,0%	8 240 063	28,9%	6 393 941	54 355	25665,8%
Share capital	550 000	66,7%	330 000	10,0%	300 000	8 000	6775,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	4 300	0%	0	0%	64 551	0	0%
Liabilities	13 353 778	150,7%	5 326 314	17,8%	4 520 713	193 123	6814,6%
- Financial liabilities	1 569 281	313,1%	379 847	26481,3%	1 429	15 912	9762,2%
- Advanced payments received	597 560	0%	0	0%	1 609	0	0%
- Trade account payables	5 655 990	113,8%	2 645 808	17,4%	2 253 735	68 297	8181,5%
- Tax and social liabilities	5 474 236	179,2%	1 960 424	-12,5%	2 241 398	45 379	11963,4%
- Other debts and fixed assets liabilities	59 633	-82,6%	343 516	1644,6%	19 690	8 902	569,9%
Account regularization	0	0%	0	0%	2 852	0	0%
Total liabilities	27 365 995	101,7%	13 569 660	23,6%	10 979 205	278 949	9710,4%

Results

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Sales of Goods	45 251 224	65,5%	27 343 069	30,8%	20 910 155	436 209	10273,7%
Net turnover	44 267 086	74,8%	25 329 236	28,4%	19 728 130	431 803	10151,7%
- of which net export turnover	27 702 533	102,3%	13 692 974	35,2%	10 130 512	2 000	1385026,6%
Operating charges	35 402 054	56,6%	22 613 625	33,2%	16 973 670	432 679	8082,1%
Operating profit/loss	9 849 170	108,3%	4 729 444	20,1%	3 936 484	9 325	105521,1%
Financial income	192 734	205,4%	63 111	436,7%	11 760	02	9636600%
Financial charges	320 279	198,3%	107 373	-35,5%	166 589	746	42832,8%
Financial profit/loss	-127 545	-188,2%	-44 261	71,4%	-154 829	-153	-83262,7%
Pretax net operating income	9 721 625	107,5%	4 685 182	23,9%	3 781 655	7 790	124696,2%
Extraordinary income	180 693	50,7%	119 866	229,8%	36 350	01	18069200%
Extraordinary charges	4 886	-98,3%	285 801	2836,1%	9 734	239	1944,4%
Extraordinary profit/loss	175 807	205,9%	-165 935	-723,4%	26 616	0	0%
Net result	6 116 232	114,9%	2 846 402	9,5%	2 599 958	7 993	76419,9%

Display parameter

Currency

Euro

Kilo Euro

Normal Account	31/12/2010	31/12/2008	31/12/2007
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2010		31/12/2008		31/12/2007
Grand Total (I to VI)	Net	27 365 995	101,7%	13 569 660	23,6%	10 979 205
Gross	CO	29 393 055	90,1%	15 461 831	24,3%	12 442 232
Amortisation	1A	2 027 060	7,1%	1 892 171	29,3%	1 463 027

Non declared distributed capital (I)

		31/12/2010		31/12/2008		31/12/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

		31/12/2010		31/12/2008		31/12/2007
Total Active fixed asset (II)	Net	1 399 979	95,0%	717 756	5,1%	682 829
Gross	BJ	2 368 975	56,2%	1 517 049	11,9%	1 356 273
Amortisation	BK	968 996	21,2%	799 292	18,7%	673 443

Intangible fixed assets

			31/12/2010		31/12/2008		31/12/2007
	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	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	126 532	0%	126 532	0,0%	126 533
	Gross	AH	126 532	0%	126 532	0,0%	126 533
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	157 543	802,9%	17 448	149,6%	6 989
	Gross	AJ	243 051	253,3%	68 800	74,7%	39 381
	Amortisation	AK	85 508	66,5%	51 352	58,5%	32 392
	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	284 075	97,3%	143 980	7,8%	133 522

Tangible fixed assets

		31/12/2010		31/12/2008		31/12/2007
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	0	0%	0	0%	0
Gross	AP	0	0%	0	0%	0
Amortisation	AQ	0	0%	0	0%	0
Plant	Net	10 717	177,9%	3 857	57,7%	2 446
Gross	AR	40 183	31,6%	30 544	10,6%	27 613
Amortisation	AS	29 466	10,4%	26 687	6,0%	25 167
Other tangible fixed assets	Net	480 112	11,7%	429 815	4,8%	410 174
Gross	AT	1 334 134	15,9%	1 151 068	12,2%	1 026 058
Amortisation	AU	854 022	18,4%	721 253	17,1%	615 884
Fixed assets in construction	Net	422 317	0%	0	0%	0
Gross	AV	422 317	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	913 146		433 672		412 620

Financial assets

		31/12/2010		31/12/2008		31/12/2007
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	8 966	17,9%	7 607	0%	7 607
Gross	CU	8 966	17,9%	7 607	0%	7 607
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	42 314	0%	0	0%	0
Gross	BB	42 314	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	2 107	-50,6%	4 262	-29,1%	6 012
Gross	BF	2 107	0%	4 262	0%	6 012
Amortisation	BG	0		0		0
Other financial assets	Net	149 367	16,5%	128 232	4,2%	123 069
Gross	BH	149 367	16,5%	128 232	4,2%	123 069
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		202 754		140 101		136 688

Current Assets (III)

		31/12/2010		31/12/2008		31/12/2007
Total Assets	Net	25 965 262	102,0%	12 851 903	24,8%	10 296 375
Gross	CJ	27 023 322	93,8%	13 944 781	25,8%	11 085 959
Amortisation	CK	1 058 060	-3,2%	1 092 878	38,4%	789 584

Stocks

		31/12/2010		31/12/2008		31/12/2007
Raw materials	Net	1 865 938	91,6%	973 634	-0,7%	980 179
Gross	BL	2 601 825	48,9%	1 747 324	18,0%	1 481 305
Amortisation	BM	735 887	-4,9%	773 690	54,4%	501 126
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	3 680 556	34,9%	2 728 516	22,0%	2 236 352
Gross	BR	3 761 478	33,6%	2 815 508	22,5%	2 297 995
Amortisation	BS	80 922	-7,0%	86 992	41,1%	61 643
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	5 546 494	49,8%	3 702 150	15,1%	3 216 531

Advance payments to suppliers

		31/12/2010		31/12/2008		31/12/2007
Advance payments to suppliers	Net	143 838	80,1%	79 846	0%	0
Gross	BV	143 838	80,1%	79 846	0%	0
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2010		31/12/2008		31/12/2007
Trade accounts receivable	Net	5 792 966	140,7%	2 406 545	96,1%	1 227 437
Gross	BX	6 034 217	128,7%	2 638 742	81,5%	1 454 251
Amortisation	BY	241 251	3,9%	232 197	2,4%	226 814
Other debtors	Net	706 650	50,8%	468 561	-51,9%	974 151
Gross	BZ	706 650	50,8%	468 561	-51,9%	974 151
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	6 499 616	126,1%	2 875 106	30,6%	2 201 588

Divers

		31/12/2010		31/12/2008		31/12/2007
Investment securities	Net	4 110 907	23,9%	3 319 069	225,7%	1 019 070
Gross	CD	4 110 907	23,9%	3 319 069	225,7%	1 019 070
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	8 956 646	284,6%	2 329 047	-31,0%	3 376 651
Gross	CF	8 956 646	284,6%	2 329 047	-31,0%	3 376 651
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	13 067 553	131,4%	5 648 116	28,5%	4 395 721

Prepaid expenses

		31/12/2010		31/12/2008		31/12/2007
Prepaid expenses	Net	707 761	29,5%	546 681	13,3%	482 535
Gross	CH	707 761	29,5%	546 681	13,3%	482 535
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2008		31/12/2007
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	753	0%	0	0%	0
Gross		753	-	-	-	-

References

		31/12/2010		31/12/2008		31/12/2007
Due within one year	CP	0	0%	128 232	0%	0
Due after one year	CR	0	0%	268 461	11,9%	239 992

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		31/12/2008		31/12/2007
Grand Total (I to V)	EE	27 365 995	101,7%	13 569 660	23,6%	10 979 205

Shareholder Equity (I)

		31/12/2010		31/12/2008		31/12/2007
Total shareholders' equity (Total I)	DL	14 004 994	70,0%	8 240 063	28,9%	6 393 941
Equity and shareholders' equity	DA	550 000	66,7%	330 000	10,0%	300 000
Issue and merger premiums	DB	91	0%	91	0%	91
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	55 000	83,3%	30 000	0%	30 000
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	7 283 667	44,7%	5 033 568	45,3%	3 463 611
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	0	0%	0	0%	0
Profit or loss for the period	DI	6 116 236	114,9%	2 846 402	9,5%	2 599 958
Investment grants	DJ	0	0%	0	0%	280
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2010		31/12/2008		31/12/2007
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		31/12/2008		31/12/2007
Total provisions for risks and charges (Total III)	DR	4 300	0%	0	0%	64 551
Risk provisions	DP	4 300	0%	0	0%	64 551
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2010		31/12/2008		31/12/2007
Total Liabilities (Total IV)	EC	13 353 778	150,7%	5 326 314	17,8%	4 520 713
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	1 342 050	108656,1%	1 234	9,1%	1 131
Sundry loans and financial liabilities	DV	227 231	-40,0%	378 613	126951,3%	298
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	597 560	0%	0	0%	1 609
Trade accounts payables	DX	5 655 990	113,8%	2 645 808	17,4%	2 253 735
Tax and social security liabilities	DY	5 474 236	179,2%	1 960 424	-12,5%	2 241 398
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	56 711	-83,3%	340 234	1628,0%	19 690

Translation loss (V)

		31/12/2010		31/12/2008		31/12/2007
Translation loss (Total V)	ED	2 922	-11,0%	3 282	0%	0

Equalization accounts

		31/12/2010		31/12/2008		31/12/2007
Deferred income	EB	0	0%	0	0%	2 852

References

		31/12/2010		31/12/2008		31/12/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	12 034 118	125,9%	5 326 314	17,9%	4 519 104
Of which current bank facilities	EH	0	0%	0	0%	1 131

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		31/12/2008		31/12/2007
Operating result (Total I-II)	GG	9 849 170	108,3%	4 729 444	20,1%	3 936 484

2 - Financial result (V - VI)

		31/12/2010		31/12/2008		31/12/2007
Financial result (Total V-VI)	GV	-127 545	-188,2%	-44 261	71,4%	-154 829

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

		31/12/2010		31/12/2008		31/12/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	9 721 625	107,5%	4 685 182	23,9%	3 781 655

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2008		31/12/2007
Extraordinary result (Total VII-VIII)	HI	175 807	205,9%	-165 935	-723,4%	26 616

Profit or loss

		31/12/2010		31/12/2008		31/12/2007
Profit or loss	HN	6 116 232	114,9%	2 846 402	9,5%	2 599 958

Total Income (I+III+V+VII)

		31/12/2010		31/12/2008		31/12/2007
Total Income (I+III+V+VII)	HL	45 624 651	65,8%	27 526 047	31,3%	20 958 264

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

		31/12/2010		31/12/2008		31/12/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	39 508 417	60,1%	24 679 644	34,4%	18 358 306

Operating income (I)

		31/12/2010		31/12/2008		31/12/2007
Total operating income (Total I)	FR	45 251 224	65,5%	27 343 069	30,8%	20 910 155

Operating income (details)

		31/12/2010		31/12/2008		31/12/2007
Sale of goods for resale	FC	0	0%	0	0%	0
France	FA	0	0%	0	0%	0
Export	FB	0	0%	0	0%	0
Sale of goods produced	FF	42 986 442	70,5%	25 213 775	28,5%	19 620 080
France	FD	15 620 470	35,6%	11 520 756	21,4%	9 489 855
Export	FE	27 365 972	99,9%	13 693 019	35,2%	10 130 225
Sale of services	FI	1 280 644	1009,2%	115 460	6,9%	108 051
France	FG	944 083	717,4%	115 505	7,2%	107 764
Export	FH	336 561	748013,3%	-45	-115,7%	287
Net turnover	FL	44 267 086	74,8%	25 329 236	28,4%	19 728 130
France	FJ	16 564 553	42,4%	11 636 262	21,2%	9 597 618
Export	FK	27 702 533	102,3%	13 692 974	35,2%	10 130 512
Stocked production	FM	107 353	-79,3%	517 512	142,7%	213 237
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	874 710	-41,5%	1 495 016	54,4%	968 270
Other income	FQ	2 075	59,0%	1 305	152,4%	517

Operating charges (II)

		31/12/2010		31/12/2008		31/12/2007
Total operating charges (Total II)	GF	35 402 054	56,6%	22 613 625	33,2%	16 973 670

Exploitation charges

		31/12/2010		31/12/2008		31/12/2007
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	16 001 764	81,3%	8 825 289	36,1%	6 486 447
Change in stocks of raw materials	FV	-696 687	-161,9%	-266 019	22,4%	-342 957
Other external purchases and charges	FW	11 069 010	40,6%	7 872 465	46,3%	5 380 232
Tax, duty and similar payments	FX	587 956	63,2%	360 210	23,7%	291 206
Payroll	FY	5 182 346	53,6%	3 374 310	10,1%	3 064 897
Social security costs	FZ	2 255 974	60,1%	1 408 832	3,4%	1 362 244

Depreciation

		31/12/2010		31/12/2008		31/12/2007
Depreciation of fixed assets	GA	122 471	-3,5%	126 915	10,8%	114 561
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	831 439	-4,3%	868 830	50,7%	576 461
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2008		31/12/2007
Other charges	GE	47 781	11,7%	42 790	5,4%	40 580

Operating charges (III-IV)

		31/12/2010		31/12/2008		31/12/2007
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		31/12/2008		31/12/2007
Total financial income (Total V)	GP	192 734	205,4%	63 111	436,7%	11 760
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	44 045	-9,6%	48 729	367,0%	10 435
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	56 851	295,3%	14 381	985,4%	1 325
Net income from disposal of investment securities	GO	91 838	0%	0	0%	0

Financial Charge (VI)

		31/12/2010		31/12/2008		31/12/2007
Total financial charge (Total VI)	GU	320 279	198,3%	107 373	-35,5%	166 589
Financial reserves and provisions	GQ	753	0%	0	0%	0
Interest and similar charges	GR	306 140	208,6%	99 209	-29,9%	141 536
Exchange losses	GS	13 386	64,0%	8 163	-67,4%	25 054
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2010		31/12/2008		31/12/2007
Total extraordinary income (Total VII)	HD	180 693	50,7%	119 866	229,8%	36 350
Extraordinary operating income	HA	180 693	233,1%	54 247	57,4%	34 467
Extraordinary income from capital transactions	HB	0	0%	1 067	-43,3%	1 883
Released provisions and transferred charges	HC	0	0%	64 551	0%	0

Extraordinary charges (VIII)

		31/12/2010		31/12/2008		31/12/2007
Total extraordinary charges (Total VIII)	HH	4 886	-98,3%	285 801	2836,1%	9 734
Extraordinary operating charges	HE	1 339	-99,5%	284 900	2826,9%	9 734
Extraordinary charges from capital transactions	HF	0	0%	900	0%	0
Extraordinary reserves and provisions	HG	3 547	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2008		31/12/2007
Employee profit sharing (Total IX)	HJ	748 205	42,8%	523 973	0%	0

Tax on profits (X)

		31/12/2010		31/12/2008		31/12/2007
Tax on profits (Total X)	HK	3 032 993	164,0%	1 148 872	-4,9%	1 208 313

References

				31/12/2010			31/12/2008		31/12/2007
	Of which equipment leases		HP	7 886	15,9%		6 802	-37,3%	10 848
	Of which property leases		HQ	0	0%		0	0%	0
	Of which transferred charges		A1	17 609	-98,1%		929 480	477,8%	160 860
	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	43 988	20,7%		36 438	67,8%	21 715
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		31/12/2008		31/12/2007
Gross value at begin of period	OG	0	0%	1 356 274	16,3%	1 165 889
Increases due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	169 413	-13,4%	195 572
Decreases by budget item transfer	OK1	27 954	0%	0	0%	0
Decreases by transfers	OK2	84 070	873,5%	8 636	66,5%	5 188
Gross value at the end of period	OL	2 368 977	56,2%	1 517 049	11,9%	1 356 273

Research and development Charge (Total I)

		31/12/2010		31/12/2008		31/12/2007
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)

		31/12/2010		31/12/2008		31/12/2007
Gross value at begin of period	KD	211 034	27,2%	165 914	11,2%	149 142
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	158 551	438,9%	29 420	75,4%	16 771
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	369 585	89,2%	195 332	17,7%	165 913

Tangible fixed assets (Total III)

		31/12/2010		31/12/2008		31/12/2007
Gross value at begin of period	LN	1 290 884	22,5%	1 053 672	19,1%	884 590
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	589 823	354,0%	129 909	-23,2%	169 081
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	84 070	4174,0%	1 967	0%	0
Gross value at the end of period	NH	1 796 637	52,0%	1 181 614	12,1%	1 053 671

Financial assets (Total IV)

		31/12/2010		31/12/2008		31/12/2007
Gross value at begin of period	LQ	213 616	56,3%	136 688	3,4%	132 157
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	17 095	69,5%	10 084	3,8%	9 719
Decreases by budget item transfer	NJ1	27 954	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	6 669	28,5%	5 188
Gross value at the end of period	NK	202 757	44,7%	140 101	2,5%	136 688

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

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	0N	0	0%	673 442	20,5%	558 882
Increases		0P	0	0%	126 915	10,8%	114 561
Decreases		0Q	0	0%	1 066	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	799 291	18,7%	673 443

Research and development charge (Total I)

			31/12/2010		31/12/2008		31/12/2007
	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)

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	PE	75 649	133,5%	32 391	58,8%	20 398
Increases		PF	9 858	-48,0%	18 960	58,1%	11 993
Decreases		PG	0	0%	0	0%	0
	Decreases by budget item transfer	PH	85 507	66,5%	51 351	58,5%	32 392

Total fixed assets amortisation (Total III)

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	QU	854 944	33,4%	641 051	19,0%	538 484
Increases		QV	112 611	4,3%	107 955	5,3%	102 568
Decreases		QW	84 070	7786,5%	1 066	0%	0
	Decreases by budget item transfer	QX	883 485	18,1%	747 940	16,7%	641 052

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

			31/12/2010		31/12/2008		31/12/2007
	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

			31/12/2010		31/12/2008		31/12/2007
	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)

			31/12/2010		31/12/2008		31/12/2007
	Value at beginning of period	7C	1 083 723	18,0%	918 685	-15,3%	1 085 084
Increases		UB	835 740	-3,8%	868 830	50,7%	576 461
Decreases		UC	857 100	23,4%	694 638	-14,0%	807 410
	Value at the end of period	UD	1 062 363	-2,8%	1 092 877	28,0%	854 135

Includes Total allocations

Operating	UE	831 439	-4,3%	868 830	0%	0
Financial	UG	753	0%	0	0%	0
Exceptional	UJ	3 547	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	857 100	51,6%	565 536	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	64 551	0%	0

Total regulated provisions (Total I)

			31/12/2010		31/12/2008		31/12/2007
	Value at beginning 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		31/12/2008		31/12/2007
	Value at beginning of period	5Z	0	0%	64 551	0%	64 551
Increases		TV	4 300	0%	0	0%	0
Decreases		TW	0	0%	64 551	0%	0
	Value at the end of period	TX	4 300	0%	0	0%	64 551

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2008		31/12/2007
	Value at beginning of period	7B	1 083 722	26,9%	854 134	-16,3%	1 020 533
Increases		TY	831 439	-4,3%	868 830	50,7%	576 461
Decreases		TZ	857 101	36,0%	630 087	-22,0%	807 410
	Value at the end of period	UA	1 058 060	-3,2%	1 092 877	38,4%	789 584

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

		31/12/2010		31/12/2008		31/12/2007
Gross value	VT	7 786 257	101,4%	3 866 329	27,2%	3 040 019
1 year at most	VU	7 636 890	112,3%	3 597 868	34,7%	2 670 946
More than one year	VV	149 367	-44,4%	268 461	-27,3%	369 073

State of loans

		31/12/2010		31/12/2008		31/12/2007
Claims related to holdings (gross)	UL	42 315	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	42 315	0%	0	0%	0
Loans (gross)	UP	2 107	-50,6%	4 263	-29,1%	6 012
Loans (1 year at most)	UR	2 107	-50,6%	4 263	0%	0
Other financial assets (gross)	UT	149 367	16,5%	128 233	4,2%	123 069
Other financial assets (1 year at most)	UV	0	0%	128 233	0%	0

Receivables statement of assets

		31/12/2010		31/12/2008		31/12/2007
Customers doubtful or disputed	VA	252 016	-6,1%	268 461	11,9%	239 992
Other claims customer	UX	5 782 201	143,9%	2 370 281	95,2%	1 214 259
Receivables represent Loaned Securities	UU	1 272	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	485	-66,7%	1 457
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	159 441	0%	0
Value added tax	VB	230 906	-24,0%	303 727	113,8%	142 052
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	4 091	2,3%	4 000	-99,3%	567 359
Accounts receivable (including claims relating to the operation of pension titles)	VR	614 220	660,6%	80 756	-69,3%	263 284

Prepaid

		31/12/2010		31/12/2008		31/12/2007
Prepaid	VS	707 762	29,5%	546 682	13,3%	482 535

State Debt

			31/12/2010		31/12/2008		31/12/2007
	Total debt (gross)	VY	13 353 780	150,7%	5 326 313	17,9%	4 519 104
1 year at most		VZ2	12 034 119	125,9%	5 326 313	17,9%	4 519 104
More than 1 year and 5 years at most		VZ3	789 630	0%	0	0%	0
More than 5 years		VZ4	530 031	0%	0	0%	0

Details

			31/12/2010		31/12/2008		31/12/2007
	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	1 901	0%	0	0%	1 131
1 year at most		VG2	1 901	0%	0	0%	1 131
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	1 340 149	108502,0%	1 234	0%	0
1 year at most		VH2	112 783	9039,6%	1 234	0%	0
More than 1 year and 5 years at most		VH3	697 335	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	5 655 991	113,8%	2 645 808	17,4%	2 253 735
1 year at most		8B2	5 655 991	113,8%	2 645 808	17,4%	2 253 735
More than 1 year and 5 years at most		8B3	5 655 991	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	2 249 095	99,9%	1 125 215	21,8%	923 503
1 year at most		8C2	2 249 095	99,9%	1 125 215	21,8%	923 503
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	1 287 364	130,5%	558 600	-31,8%	818 714
1 year at most		8D2	1 195 069	113,9%	558 600	-31,8%	818 714
More than 1 year and 5 years at most		8D3	92 295	0%	0	0%	0
	Taxes on profits (gross)	8E1	1 499 111	0%	0	0%	368 425
1 year at most		8E2	1 499 111	0%	0	0%	368 425
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	217 331	7,1%	202 975	185,0%	71 222
1 year at most		VW2	217 331	7,1%	202 975	185,0%	71 222
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	221 335	200,6%	73 634	23,7%	59 534
1 year at most		VQ2	221 335	200,6%	73 634	23,7%	59 534
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	227 351	-40,0%	378 733	126991,6%	298
1 year at most		VI2	227 351	-40,0%	378 733	126991,6%	298
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	654 152	92,3%	340 114	1627,3%	19 690
1 year at most		8K2	654 152	92,3%	340 114	1627,3%	19 690
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%	2 852
1 year at most		8L2	0	0%	0	0%	2 852
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2008		31/12/2007
Loans made during the period	VJ	1 400 000	0%	0	0%	0
Debt repaid during the period	VK	61 558	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2008		31/12/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2008		31/12/2007
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		31/12/2008		31/12/2007
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2010		31/12/2008		31/12/2007
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2010		31/12/2008		31/12/2007
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2010		31/12/2008		31/12/2007
Average number of employees	YP	0	0%	70	45,8%	48

Groups and Shareholders

		31/12/2010		31/12/2008		31/12/2007
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		31/12/2008		31/12/2007	Sector Median 2010
Fixed Asset Financing	6,99	12,6%	6,21	18,1%	5,26	1,86	275,8%
Global Debt	109 days	43,4%	76 days	-7,3%	82 days	142 days	-23,2%
Working Capital Fund overall net	115 days	2,7%	112 days	6,7%	105 days	43 days	167,4%
Financial independence	1043,55%	-99,8%	667752,27%	18,1%	565335,19%	350,44%	197,8%
More ratios
Solvability	51,18%	-15,7%	60,72%	4,3%	58,24%	24,97%	105,0%
Capacity debt futures	12211,81%	-98,2%	667752,27%	18,1%	565335,19%	778,07%	1469,5%
Coverage of current assets by net working capital overall	46,60%	-1,4%	47,27%	-4,9%	49,70%	30,66%	52,0%
General Liquidity	0,63	-7,4%	0,68	15,3%	0,59	0,42	50,0%
Restricted Liquidity	1,72	-1,1%	1,74	11,5%	1,56	0,74	132,4%

Management or rotation

	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Need background in operating working capital	3 days	-87,5%	24 days	50,0%	16 days	9 days	-66,7%
Treasury	106 days	32,5%	80 days	0%	80 days	6 days	1666,7%
Inventory turnover of goods	days	-	days	-	days	81 days	-
Average length of credit granted to customers	49 days	28,9%	38 days	40,7%	27 days	32 days	53,1%
Average length of credit obtained suppliers	77 days	32,8%	58 days	-17,1%	70 days	62 days	24,2%
More ratios
Inventory turnover of raw materials in industrial enterprises	59 days	-16,9%	71 days	-13,4%	82 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	2464 days	14,9%	2144 days	14,5%	1872 days	2476 days	-0,5%
Rotation tangible assets	2463,89%	14,9%	2143,61%	14,5%	1872,32%	2166,48%	13,7%

Profitability of the business

	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Margin trading	0%	0%	0%	0%	0	31,66%	0%
Profitability of the business	22,53	33,6%	16,86	-10,1%	18,75	3,11%	624,4%
Net profit	13,82%	23,0%	11,24%	-14,7%	13,18%	1,74%	694,3%
More ratios
Growth rate of turnover (excluding VAT)	0%	0%	28,39%	-0,8%	28,61%	0,95%	0%
Rates integration	40,66%	9,4%	37,17%	-12,9%	42,67%	18,74%	117,0%
Rate leasing furniture	0,02%	-33,3%	0,03%	-40,0%	0,05%	0%	0%
Work Factor	41,32%	-18,7%	50,80%	-3,4%	52,59%	68,51%	-39,7%
Weight interests	0,72	71,4%	0,42%	-50,0%	0,84%	0,21%	242,9%

Return on capital

	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Cash flow from the overall profitability	12,17%	31,6%	9,25%	-32,7%	13,75%	2,25%	440,9%
Rates of economic profitability	64%	28,0%	50%	-13,8%	58%	15%	326,7%
Financial profitability	14004994%	70,0%	8240063%	28,9%	6393941%	24358,50%	57395,3%
Return on investment	41,33%	20,6%	34,27%	-20,8%	43,26%	12,28%	236,6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Turnover	44 267 086	74,8%	25 329 236	28,4%	19 728 130	431 803 €	10151,7%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	109 881 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	33 % CA	0%

Sale of goods produced	44 267 086	74,8%	25 329 235	28,4%	19 728 131
+/- Stocked production	107 353	-79,3%	517 512	142,7%	213 237
+ Self-constructed assets	0	0%	0	0%	0
Period production	44 374 439 €	71,7%	25 846 747 €	29,6%	19 941 368 €	2 484 €	1786310,6%
	100,24 % CA	-1,8%	102,04 % CA	0,9%	101,08 % CA	1,17 % CA	8467,5%

Trading margin	0	0%	0	0%	0	109 881	0%
+ Period Production	44 374 439	71,7%	25 846 747	29,6%	19 941 368	2 484	1786310,6%
- Purchase of raw materials	16 001 764	81,3%	8 825 289	36,1%	6 486 447
+/- Change in stocks of raw materials	-696 687	-161,9%	-266 019	22,4%	-342 957
- Other external purchases and charges	11 069 010	40,6%	7 872 465	46,3%	5 380 232
Added value	18 000 352 €	91,2%	9 415 012 €	11,8%	8 417 646 €	84 593 €	21178,8%
	40,66 % CA	9,4%	37,17 % CA	-12,9%	42,67 % CA	18,74 % CA	117,0%

Added value	18 000 352 €	91,2%	9 415 012 €	11,8%	8 417 646 €	84 593 €	21178,8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	587 956	63,2%	360 210	23,7%	291 206
- Personal charges	7 438 320	55,5%	4 783 142	8,0%	4 427 141
Gross operating surplus	9 974 076 €	133,5%	4 271 660 €	15,5%	3 699 299 €	11 316 €	88041,4%
	22,53 % CA	33,6%	16,86 % CA	-10,1%	18,75 % CA	3,10 % CA	626,8%

Gross operating surplus	9 974 076 €	133,5%	4 271 660 €	15,5%	3 699 299 €	11 316 €	88041,4%
+ Release of reserves and provisions	874 710	-41,5%	1 495 016	54,4%	968 270
+ Other operating income	2 075	59,0%	1 305	152,4%	517
- Depreciation/Amortisation	953 910	-4,2%	995 745	44,1%	691 022
- Other charges	47 781	11,7%	42 790	5,4%	40 580
Operating result	9 849 170 €	108,3%	4 729 446 €	20,1%	3 936 484 €	9 217 €	106758,7%
	22,25 % CA	19,2%	18,67 % CA	-6,4%	19,95 % CA	2,36 % CA	842,8%

Operating result	9 849 170 €	108,3%	4 729 446 €	20,1%	3 936 484 €	9 217 €	106758,7%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	192 734	205,4%	63 111	436,7%	11 760
- Financial charges	320 279	198,3%	107 373	-35,5%	166 589
Pre-tax result	9 721 625 €	107,5%	4 685 184 €	23,9%	3 781 655 €	7 764 €	125114,1%
	21,96 % CA	18,7%	18,50 % CA	-3,5%	19,17 % CA	1,90 % CA	1055,8%

Extraordinary income	180 693	50,7%	119 866	229,8%	36 350	01	18069200%
- Extraordinary charges	4 886	-98,3%	285 801	2836,1%	9 734
Extraordinary result	175 807 €	205,9%	-165 935 €	-723,4%	26 616 €	0 €	0%
	0,40 % CA	160,6%	-0,66 % CA	-607,7%	0 % CA	0 % CA	0%

Pre-tax result	9 721 625 €	107,5%	4 685 184 €	23,9%	3 781 655 €	7 764 €	125114,1%
Extraordinary result	175 807 €	205,9%	-165 935 €	-723,4%	26 616 €	0 €	0%
- Employee profit sharing	748 205	42,8%	523 973	0%	0
- Tax on profits	3 032 993	164,0%	1 148 872	-4,9%	1 208 313
Net result	6 116 234 €	114,9%	2 846 404 €	9,5%	2 599 958 €	7 859 €	77724,6%
	13,82 % CA	23,0%	11,24 % CA	-14,7%	13,18 % CA	1,73 % CA	698,8%

ADDITIONAL INFORMATION

Company details

Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)
RCS Registration	RCS Paris 9 403 243 058	Share capital	550,000 Euros
Registration Court	Paris (75)	Legal form	Simplified joint stock company
Court Registry Number	19 9 5B165	EUR VAT Number	FR88403243058
Incorporation Date	12/1995	Formation Date	06/1995
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Fabrication de vêtements de dessus (1413Z)	Business Pages FT®
Postal Address	I.M PRODUCTION 7 RUE HEROLD 50 RUE CROIX DES PETITS CHAMPS 75001 PARIS 1	Trading Address	50 RUE CROIX DES PETITS CHAMPS 75001 PARIS 1
Telephone
Fax

Type	Head office	Status	Economically active
Formation Date	10/2011	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department		Region	Ile-de-France
District		Area
City	PARIS 1	Size of urban area

Other establishments

Branches	5 branch entities in this company
Head office	> I.M PRODUCTION <<<  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 1  (75001)
Secondary establishments	>  I.M PRODUCTION  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 11  (75011) >  I.M PRODUCTION  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PANTIN  (93500) >  I.M PRODUCTION  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 11  (75011) >  I.M PRODUCTION  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 11  (75011) > ...

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

0 employee

Company workforce

100 to 199 employees

Status history

Date	Description
15/03/2012	Economically active

Recent publications in Gazettes

Publication date	Gazette Name	Description
31/05/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1293 - 403 243 058 RCS Paris. IM PRODUCTION. Forme : Société par actions simplifiée. Capital : 550000 EUR. Activité : Espace de réception et toutes activités connexes et annexes et, notamment, tous types de prestations à caractère évènementiel, bureaux, atelier limité à la confection de prototypes. Création et commercialisation de vêtements de prêt à porter, création et fabrication Dde bijouterie fantaisie, vente de parures, ornements, objets précieux fabriqués en tout ou partie en or et notamment en or, bracelets comportant un fermoir en or. Adresse de l’établissement principal : 7 rue Herold, 50 rue Croix des Petits Champs-, 75001 Paris. Adresse du siège social : 7 rue Herold, 50 rue Croix des Petits Champs-, 75001 Paris. Commentaires : modification survenue sur l'activité de l'établissement principal, l'adresse du siège et l'adresse de l'établissement.
03/04/2012	JAL	Head Office Transfer
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 21/02/2012 Transfert du siège social de la société 403243058 -  I.M PRODUCTION Adresse du nouveau siège : 50 RUE CROIX DES PETITS CHAMPS, 75001 PARIS Ancienne localisation : 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Date d'effet : 15/03/2012
15/10/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4136 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 passage Saint-Sébastien 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
15/10/2011	Bodacc C	Comptes annuels, consolidés et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4137 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 passage Saint-Sébastien 75011 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 7554 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 PAS SAINT SEBASTIEN 75011 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
14/09/2010	Bodacc C	Comptes annuels, consolidés et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7555 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 PAS SAINT SEBASTIEN 75011 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
22/08/2010	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1547 - 403 243 058 RCS Paris. IM PRODUCTION. Forme : Société par actions simplifiée. Administration : nomination du Directeur général : Durufle, Sophie. Capital : 550000 EUR. Adresse du siège social : 3 passage Saint-Sébastien, 75011 Paris. Commentaires : modification survenue sur l'administration.
05/07/2010	JAL	Appointment of the social representative
LES PETITES AFFICHES Société faisant objet d'une nomination : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Nominé : Mademoiselle Sophie DURUFLE, 13 RUE 13 RUE TAYLOR, 75010 PARIS En la fonction de : DG - Directeur Général
24/02/2010	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2520 - 403 243 058 RCS Paris. IM PRODUCTION. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire partant : ADVERTUS EXPERTISE, nomination du Commissaire aux comptes titulaire : Naim, Laurent, nomination du Commissaire aux comptes titulaire : Germon, Paul, Commissaire aux comptes suppléant partant : Hassan, Didier, nomination du Commissaire aux comptes suppléant : Naim, Jean Pierre, nomination du Commissaire aux comptes suppléant : Laboriaux, Yves. Capital : 550000 EUR. Adresse du siège social : 3 passage Saint-Sébastien, 75011 Paris. Commentaires : modification survenue sur le capital (augmentation) et l'administration.
15/01/2010	JAL	Appointment of the social representative
LES PETITES AFFICHES Société faisant objet d'une nomination : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Nominé : Monsieur Jean-Pierre NAIM, 199 BOULEVARD 199 BOULEVARD MALESHERBES, 75017 PARIS En la fonction de : Commissaire au compte suppléant
15/01/2010	JAL	Appointment of the social representative
LES PETITES AFFICHES Société faisant objet d'une nomination : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Nominé : Monsieur Laurent NAIM, 1 AVENUE 1 AVENUE ALPHONSE XIII, 75016 PARIS En la fonction de : Commissaire au compte titulaire
15/01/2010	JAL	Appointment of the social representative
LES PETITES AFFICHES Société faisant objet d'une nomination : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Nominé : Monsieur Yves LABORIAUX, 41 AVENUE 41 AVENUE DE VILLENEUVE L ETANG, 78000 VERSAILLES En la fonction de : Commissaire au compte suppléant
15/01/2010	JAL	Appointment of the social representative
LES PETITES AFFICHES Société faisant objet d'une nomination : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Nominé : Monsieur Paul GERMON, 175 BOULEVARD 175 BOULEVARD MALESHERBES, 75017 PARIS En la fonction de : Commissaire au compte titulaire
15/01/2010	JAL	Resignation / Revocation of the social representative
LES PETITES AFFICHES Date de décision : 11/12/2009 La société 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Fait l'objet du départ de Monsieur Didier HASSAN
15/01/2010	JAL	Resignation / Revocation of the social representative
LES PETITES AFFICHES Date de décision : 11/12/2009 La société 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 Fait l'objet du départ de La société ADEVERTUS EXPERTISE
15/01/2010	JAL	Modification of the share capital
LES PETITES AFFICHES Date de décision : 11/12/2009 La société : 403243058 - I.M PRODUCTION, 3 PAS SAINT SEBASTIEN, 75011 PARIS 11 a subi une augmentation de son capital social désormais de 550 000 €
28/10/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7109 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 passage Saint-Sébastien 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
20/02/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 3442 - 403 243 058 RCS Paris. IM PRODUCTION. Forme : Société par actions simplifiée. Capital : 330000 EUR. Adresse du siège social : 3 passage Saint-Sébastien, 75011 Paris. Commentaires : modification survenue sur le capital (augmentation).
26/09/2008	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 3027 - 403243058 RCS. IM PRODUCTION. Forme : Société par actions simplifiée. Adresse : 3 passage Saint-Sébastien 75011 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
18/12/2007	Bodacc C	Avis de dépôt des comptes
4791 - 403 243 058. RCS Paris IM PRODUCTION. Forme: Société par actions simplifiée. Adresse du siège social: 3 passage Saint-Sébastien 75011 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
29/10/2006	Bodacc C	Avis de dépôt des comptes
5260 - RCS Paris B 403 243 058. RC 95-B 16574. IM PRODUCTION. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 3, passage Saint Sébastien,Paris, 75011 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
02/12/2005	Bodacc C	Avis de dépôt des comptes
2834 - RCS Paris B 403 243 058. RC 95-B 16574. IM PRODUCTION. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 3, passage Saint Sébastien,Paris, 75011 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
19/01/2005	Bodacc B	Modifications et mutations diverses
2004 - RCS Paris B 403 243 058. RC 95-B 16574. IM PRODUCTION. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : MARANT (Isabel). Administrateurs partants : MARANT (Alexis) DURUFLE (Sophie).
19/01/2005	Bodacc C	Avis de dépôt des comptes
2420 - RCS Paris B 403 243 058. RC 95-B 16574. IM PRODUCTION. Forme: S.A. Adresse du siège social: 3, passage,Saint Sébastien, 75011 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
03/10/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 403243058 RC 95-B 16574 IM PRODUCTION. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : commissaire aux comptes titulaire partant : URBAIN (Michel). Nomination d' un commissaire aux comptes titulaire : ADVERTUS EXPERTISE. Commissaire aux comptes suppléant partant : FAVERIS ( Jacques, Marie). Nomination d'un commissaire aux comptes suppléant : HASSAN (Didier).
14/12/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 403243058 RC 95-B 16574 I.M. PRODUCTION. Forme : S.A. Capital : 300 000 euros. Commentaires : modification survenue sur le capital (augmentation).
22/11/2000	Bodacc B	Modifications et mutations diverses
RCS Paris B 403243058 RC 95-B 16574 I.M. PRODUCTION. Forme : S.A. Capital : 1 500 000 F. Commentaires : modification survenue sur le capital (augmentation).
04/09/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 419 882 311 RC RC 98- B 11736 ISABEL MARANT DIFFUSION. Forme : S.A.R.L. Capital : 50 000 F. Activité : vente au détail dans la marque Isabel Marant, vetements, pret-à-porter, chaussures, bijoux fantaisie, parfum, produits de beauté et généralement de tous articles et accessoires de modes. Adresse du siège social : 3, passage Saint-Sébastien 75011 Paris. Administration : gérant : MARANT (Isabel) Fonds reçu en location-gérance Date de début d'activité: 1er juillet 1998 Propriétaire : I.M. PRODUCTION. RCS RCS B 403 243 058.
20/02/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 403 243 058 RC RC 95- B 16574 I.M. PRODUCTION. Forme : S.A. Administration : suppression : administrateurs : MARANT (Claude) MARANT (Patrick). Nomination en qualité d'administrateurs : MARANT ( Alexis) DURUFLE (Sophie). Commentaires : modification survenue sur l'administration.
05/08/1997	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 403 243 058 RC RC 95- B 16574 I.M. PRODUCTION. Forme : S.A. Adresse du siège social : 3, passage Saint-Sébastien 75011 Paris Etablissement principal: Adresse : 3, passage Saint-Sébastien 75011 Paris. Commentaires : modification survenue sur l'adresse du siège social et de l' établissement principal.
25/02/1996	Bodacc A	Création d'établissement
RCS Paris B 403 243 058 RC 95-B 16574 I. M. PRODUCTION. Forme : S.A. Capital : 830 000 F. Activité : création, commercialisation de vetements, de pret- à-porter création et fabrication de bijouterie fantaisie. Adresse du siège social : 6 rue de la Folie-Méricourt 75011 Paris. Administration : président du conseil d'administration : MARANT ( Isabel). Administrateurs : MARANT ( Claude) et MARANT (Patrick). Commissaire aux comptes titulaire : URBAIN (Michel). Commissaire aux comptes suppléant : FAVERIS (Jacques, Marie) Cette société se constitue Date de début d'activité: 30 juin 1995.

Company events history

Date	Description
31/05/2012	Bodacc B: Various editing or changing
15/05/2012	Change to corporate purpose
15/05/2012	Registered office transferred inside jurisdiction of the Commercial Court
15/05/2012	Updated articles of association
15/05/2012	Amendment
03/04/2012	Legal Gazette: Head Office Transfer
15/03/2012	Transfer of Establishment
15/03/2012	Update of Company Head Office Identifier
31/12/2011	Modification of Company Activity
31/12/2011	Update of Company Activity
18/10/2011	Formation of Establishment
15/10/2011	Bodacc C : Deposit accounts notice
10/08/2011	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
22/08/2010	Bodacc B: Various editing or changing
05/08/2010	Minutes of general meeting of shareholders
05/08/2010	Changes to the Board of Directors
24/06/2010	Legal Gazette: Appointment of the social representative
24/02/2010	Bodacc B: Various editing or changing
03/02/2010	Updated articles of association
03/02/2010	Minutes of general meeting of shareholders
03/02/2010	Capital increase
03/02/2010	New auditor
15/01/2010	Legal Gazette: Resignation / Revocation of the social representative
31/12/2009	New accounts available
11/12/2009	Legal Gazette: Modification of the share capital
11/12/2009	Legal Gazette: Appointment of the social representative
28/10/2009	Bodacc C : Deposit accounts notice
27/03/2009	Collection of preferential rights activated for this company
20/02/2009	Bodacc B: Various editing or changing
20/02/2009	New Bodacc B ads detected
03/02/2009	Amendment
03/02/2009	Acte modificatif
03/02/2009	Updated articles of association
03/02/2009	Statuts mis à jour
03/02/2009	Capital increase
03/02/2009	Augmentation de Capital
02/02/2009	Minutes of general meeting of shareholders
02/02/2009	Private document
02/02/2009	Capital increase
02/02/2009	Updated articles of association
31/12/2008	New accounts available
26/09/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
04/01/2005	New legal form – no new category
04/01/2005	Changement de Président (PDG, PCA)
04/01/2005	Acte sous seing privé
04/01/2005	Private document
04/01/2005	Appointment/resignation of company officers
04/01/2005	Nomination/démission des organes de gestion
04/01/2005	Minutes of general meeting of shareholders
04/01/2005	PV d'Assemblée
04/01/2005	Statuts mis à jour
04/01/2005	Updated articles of association
04/01/2005	Audit or Management Report
04/01/2005	Rapport des Commissaires ou du Gérant
04/01/2005	Changement de Forme Juridique avec changement de catégorie
04/01/2005	Changement de Forme Juridique sans changement de catégorie
31/12/2004	New accounts available
31/12/2003	New accounts available
20/09/2002	Acte sous seing privé
20/09/2002	Changement de Commissaire aux Comptes
20/09/2002	PV d'Assemblée
20/09/2002	Nomination/démission des organes de gestion
03/12/2001	Augmentation de Capital
03/12/2001	Conversion du Capital Social en Euros
03/12/2001	Réduction de Capital
03/12/2001	Acte sous seing privé
03/12/2001	PV d'Assemblée
03/12/2001	Statuts mis à jour
07/11/2000	Acte sous seing privé
07/11/2000	Augmentation de Capital
07/11/2000	PV d'Assemblée
07/11/2000	Statuts mis à jour
03/02/1998	Modification du Conseil d'Administration
03/02/1998	Nomination/démission des organes de gestion
03/02/1998	PV d'Assemblée
03/02/1998	Acte sous seing privé
21/07/1997	Acte sous seing privé
21/07/1997	Statuts mis à jour
21/07/1997	Transfert du Siège dans le ressort du Tribunal de Commerce
21/07/1997	PV d'Assemblée
04/01/1996	Acte modificatif
04/01/1996	Changement de date de clôture
04/01/1996	Acte sous seing privé
04/01/1996	Statuts mis à jour
04/01/1996	PV d'Assemblée
26/12/1995	Certificat de dépôt des fonds
26/12/1995	PV du Conseil d'Administration
26/12/1995	Statuts
26/12/1995	Formation de Société
26/12/1995	Nomination/démission des organes de gestion
26/12/1995	Acte sous seing privé
26/12/1995	PV d'Assemblée
27/10/1995	Requête et Ordonnance

Establishment events history

Date	Description
06/11/2012	Update Rating
12/10/2012	Update Limit
11/09/2012	Update Rating
15/03/2012	Modification of Head office (after transfer)
31/12/2011	Modification of Head office
18/10/2011	Formation of Establishment

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.64
UK Pound	1	Rs.86.69
Euro	1	Rs.73.97

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.