MIRA INFORM REPORT

Report Date :

14.06.2013

IDENTIFICATION DETAILS

Name :	SA DESMAZIERES
Registered Office :	Chauss'expo Zi 2 Rue Du Petit Quinquin Bp 126 59811 Lesquin Cedex
Country :	France
Financials (as on) :	31.12.2011
Date of Incorporation :	September 1987
Com. Reg. No.:	RCS 8 341 816 064
Legal Form :	PLC with management board
Line of Business :	Retail shoe
No. of Employees :	662

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	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

SA DESMAZIERES

SIRET

341 816 064 00024

Personal comment

company summary

Trade name	CHAUSS EXPO
		EUR VAT Number	FR94341816064
Activity (APE)	Retail shoe (4772A)	Legal form	Plc with management board
Phone	03 20 87 61 97	RCS Registration	RCS 8 341 816 064
Fax	03 20 87 58 41
Address	SA DESMAZIERES CHAUSS'EXPO ZI 2 RUE DU PETIT QUINQUIN BP 126 59811 LESQUIN CEDEX	Incorporated Date	09/1987
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Current Directors

2

Directors

Name	M. DESMAZIERES GUY-SERGE
Manager position	President of the management board	Date of birth	12/06/1954
Place of birth	LILLE (59000)
Type	Individual	Name at birth

Name	Mme. DESMAZIERES MANUELA
Manager position	President of the supervisory council	Date of birth	16/03/1957
Place of birth	MARCQ EN BAROEUL (59700)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President of the management board	M GUY-SERGE DESMAZIERES	- - -
President of the management board	M GUY-SERGE DESMAZIERES	12/06/1954 - 59 LILLE
President of the management board	M GUY-SERGE DESMAZIERES	12/06/1954 - 59 LILLE
President of the supervisory council	MME MANUELA ANGOT	16/03/1957 - MARCQ EN BAROEUL
President of the supervisory council	Mme MANUELA DESMAZIERES	16/03/1957 - 59 MARCQ EN BAROEUL
President of the supervisory council	MME MANUELA DESMAZIERES	16/03/1957 - MARCQ EN BAROEUL
President of the supervisory council	Mme MANUELA DESMAZIERES	16/03/1957 - 59 MARCQ EN BAROEUL
President of the supervisory council	Mme MANUELA DESMAZIERES	16/03/1957 - MARCQ EN BAROEUL (59700)

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

3,664,603 Euros

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	3
	Total number of Invoices paid within or up to 30 days after the due date	3
	Total number of Invoices paid more than 30 days after the due date	0
	Total number of Invoices currently outstanding where the due date has not yet been reached	0
	Total number of Invoices currently outstanding beyond the due date	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Linkages

No linked companies

FINANCIAL INFORMATION

Trading to Date	12/31/2011	12/31/2010	12/31/2009
Turnover	114,995,059 €	119,519,509 €	120,342,869 €
Gross Operating Surplus	4,93 % Turnover	6,47 % Turnover	8,11 % Turnover
Shareholders’ equity	37,894,859 €	35,731,569 €	32,376,807 €
Net result	2,327,585 €	3,551,900 €	4,175,272 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2011	31/12/2010	31/12/2009
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	29/04/2013	27/04/2013	27/04/2013
Activity Code	4772A	4772A	4772A
Employees	662	705	616

Active account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	21 874 524	-0,4%	21 967 088	-9,5%	24 270 398	73 405	29699,8%
- Intangible assets	616 881	-20,0%	770 881	-6,8%	827 353	46 791,50	1218,4%
- Tangible assets	15 030 958	-0,2%	15 062 435	-13,0%	17 320 372	10 534,50	142583,2%
- Financial assets	6 226 685	1,5%	6 133 772	0,2%	6 122 673	1 415,50	439793,0%
Net current assets	50 872 665	8,1%	47 049 051	10,2%	42 675 589	130 659,50	38835,3%
- Stocks	36 226 226	10,2%	32 858 282	11,7%	29 418 676	82 991,50	43550,5%
- Advanced payments	1 715 733	8,1%	1 811 365	116,7%	835 730	0	0%
- Receivables	12 153 619	1,5%	11 973 752	21,1%	9 887 946	6 986,50	173858,6%
- Securities and cash	777 087	91,6%	405 652	-84,0%	2 533 237	14 718	5179,8%
- Prepaid expenses	-	-	-	-	-	486	-
Accounts of regularization	4 048	73,4%	2 334	-10,9%	2 620	0	0%
Total Assets	72 751 237	5,4%	69 018 473	3,1%	66 948 608	223 494	32451,8%

Passive Account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Shareholders' equity	37 894 859	6,1%	35 731 569	10,4%	32 376 807	56 722	66708,0%
Share capital	3 664 603	0%	3 664 603	0%	3 664 603	8 000	45707,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	314 911	-27,3%	433 271	-16,6%	519 511	0	0%
Liabilities	34 541 468	5,1%	32 853 462	-3,5%	34 052 290	141 282,50	24348,5%
- Financial liabilities	10 183 338	13,5%	8 973 447	-12,8%	10 289 848	47 189,50	21479,7%
- Advanced payments received	99 169	50,8%	65 741	-47,7%	125 771	0	0%
- Trade account payables	12 952 201	9,1%	11 872 394	6,0%	11 199 271	32 764	39431,8%
- Tax and social liabilities	6 705 494	-1,8%	6 831 110	-21,4%	8 691 908	24 045,50	27786,7%
- Other debts and fixed assets liabilities	972 593	-11,2%	1 095 030	2,9%	1 064 475	4 201	23051,5%
Account regularization	3 628 673	-9,6%	4 015 913	49,8%	2 681 017	0	0%
Total liabilities	72 751 237	5,4%	69 018 473	3,1%	66 948 608	223 494	32451,8%

Results

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Sales of Goods	116 364 627	-3,6%	120 718 866	-0,1%	120 884 942	282 735	41056,8%
Net turnover	114 995 059	-3,8%	119 519 509	-0,7%	120 342 869	277 154	41391,4%
- of which net export turnover	284 981	21,1%	235 299	61,9%	145 352	0	0%
Operating charges	113 006 379	-2,2%	115 498 662	1,2%	114 178 963	270 215,50	41720,8%
Operating profit/loss	3 358 248	-35,7%	5 220 204	-22,2%	6 705 979	8 698,50	38507,2%
Financial income	542 749	-28,6%	760 383	3,9%	731 765	01	54274800%
Financial charges	1 048 006	5,5%	993 503	-16,4%	1 188 950	1 568,50	66715,8%
Financial profit/loss	-505 257	-116,7%	-233 120	49,0%	-457 185	-1 168	-43158,3%
Pretax net operating income	2 852 991	-42,8%	4 987 084	-20,2%	6 248 794	7 014,50	40572,8%
Extraordinary income	1 295 593	-16,9%	1 559 166	-31,6%	2 278 369	0	0%
Extraordinary charges	1 037 259	-3,6%	1 076 127	-48,9%	2 104 669	60	1728665,0%
Extraordinary profit/loss	258 334	-46,5%	483 039	178,1%	173 700	0	0%
Net result	2 327 585	-34,5%	3 551 900	-14,9%	4 175 272	6 848	33889,3%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2011	31/12/2010	31/12/2009
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2011		31/12/2010		31/12/2009
Grand Total (I to VI)	Net	72 751 237	5,4%	69 018 473	3,1%	66 948 608
Gross	CO	103 190 797	6,2%	97 140 054	2,7%	94 617 131
Amortisation	1A	30 439 560	8,2%	28 121 581	1,6%	27 668 523

Non declared distributed capital (I)

		31/12/2011		31/12/2010		31/12/2009
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

		31/12/2011		31/12/2010		31/12/2009
Total Active fixed asset (II)	Net	21 874 524	-0,4%	21 967 088	-9,5%	24 270 398
Gross	BJ	48 857 004	4,3%	46 821 643	-4,3%	48 942 968
Amortisation	BK	26 982 480	8,6%	24 854 555	0,7%	24 672 570

Intangible fixed assets

			31/12/2011		31/12/2010		31/12/2009
	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	79 914	15,2%	69 358	-44,9%	125 830
	Gross	AF	634 406	11,9%	567 099	0,6%	563 802
	Amortisation	AG	554 492	11,4%	497 741	13,6%	437 972
	Goodwill	Net	536 967	-23,5%	701 523	0%	701 523
	Gross	AH	536 967	-23,5%	701 523	0%	701 523
	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	616 881	-20,0%	770 881	-6,8%	827 353

Tangible fixed assets

		31/12/2011		31/12/2010		31/12/2009
Lands	Net	1 434 278	-1,0%	1 448 140	-19,2%	1 792 110
Gross	AN	1 434 278	-1,0%	1 448 140	-19,2%	1 792 110
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	10 069 483	-1,4%	10 210 142	-14,2%	11 895 158
Gross	AP	30 590 086	4,6%	29 253 274	-6,5%	31 270 258
Amortisation	AQ	20 520 603	7,8%	19 043 132	-1,7%	19 375 100
Plant	Net	39 113	2,5%	38 156	-4,7%	40 029
Gross	AR	146 658	4,2%	140 702	1,8%	138 268
Amortisation	AS	107 545	4,9%	102 546	4,4%	98 239
Other tangible fixed assets	Net	3 296 154	-0,3%	3 305 361	-6,2%	3 522 208
Gross	AT	9 095 994	6,8%	8 516 497	2,8%	8 283 467
Amortisation	AU	5 799 840	11,3%	5 211 136	9,4%	4 761 259
Fixed assets in construction	Net	188 879	316,5%	45 346	-22,1%	58 179
Gross	AV	188 879	316,5%	45 346	-22,1%	58 179
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	3 051	-80,0%	15 290	20,5%	12 688
Gross	AX	3 051	-80,0%	15 290	20,5%	12 688
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	15 030 958		15 062 435		17 320 372

Financial assets

		31/12/2011		31/12/2010		31/12/2009
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	5 161 443	0,1%	5 156 627	0,0%	5 156 491
Gross	CU	5 161 443	0,1%	5 156 627	0,0%	5 156 491
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
Gross	BF	0	0%	0	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	1 065 242	9,0%	977 145	1,1%	966 182
Gross	BH	1 065 242	9,0%	977 145	1,1%	966 182
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		6 226 685		6 133 772		6 122 673

Current Assets (III)

		31/12/2011		31/12/2010		31/12/2009
Total Assets	Net	50 872 665	8,1%	47 049 051	10,2%	42 675 589
Gross	CJ	54 329 745	8,0%	50 316 077	10,2%	45 671 544
Amortisation	CK	3 457 080	5,8%	3 267 026	9,0%	2 995 955

Stocks

		31/12/2011		31/12/2010		31/12/2009
Raw materials	Net	25 583	-21,3%	32 516	-37,4%	51 923
Gross	BL	25 583	-21,3%	32 516	-37,4%	51 923
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	36 200 643	10,3%	32 825 766	11,8%	29 366 753
Gross	BT	38 697 857	10,1%	35 160 288	11,6%	31 514 265
Amortisation	BU	2 497 214	7,0%	2 334 522	8,7%	2 147 512
Sub Total Stocks	Net	36 226 226	10,2%	32 858 282	11,7%	29 418 676

Advance payments to suppliers

		31/12/2011		31/12/2010		31/12/2009
Advance payments to suppliers	Net	1 715 733	-5,3%	1 811 365	116,7%	835 730
Gross	BV	1 715 733	-5,3%	1 811 365	116,7%	835 730
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2011		31/12/2010		31/12/2009
Trade accounts receivable	Net	7 440 272	-7,7%	8 062 393	29,3%	6 236 799
Gross	BX	8 201 517	-6,6%	8 779 879	27,6%	6 881 273
Amortisation	BY	761 245	6,1%	717 486	11,3%	644 474
Other debtors	Net	4 289 267	21,3%	3 535 208	8,1%	3 271 756
Gross	BZ	4 289 267	21,3%	3 535 208	8,1%	3 271 756
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	11 729 539	1,1%	11 597 601	22,0%	9 508 555

Divers

		31/12/2011		31/12/2010		31/12/2009
Investment securities	Net	251 249	14,3%	219 908	-87,5%	1 762 973
Gross	CD	449 870	3,4%	434 926	-77,9%	1 966 942
Amortisation	CE	198 621	-7,6%	215 018	5,4%	203 969
Cash and cash equivalents	Net	525 838	183,1%	185 744	-75,9%	770 264
Gross	CF	525 838	183,1%	185 744	-75,9%	770 264
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	777 087	91,6%	405 652	-84,0%	2 533 237

Prepaid expenses

		31/12/2011		31/12/2010		31/12/2009
Prepaid expenses	Net	424 080	12,7%	376 151	-0,9%	379 391
Gross	CH	424 080	12,7%	376 151	-0,9%	379 391
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2011		31/12/2010		31/12/2009
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	4 048	73,4%	2 334	-10,9%	2 620
Gross		4 048	73,4%	2 334	-10,9%	2 620

References

		31/12/2011		31/12/2010		31/12/2009
Due within one year	CP	1 065 242	9,0%	977 146	1,1%	966 182
Due after one year	CR	3 542 791	1,9%	3 477 758	439,6%	644 473

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)

		31/12/2011		31/12/2010		31/12/2009
Grand Total (I to V)	EE	72 751 237	5,4%	69 018 473	3,1%	66 948 608

Shareholder Equity (I)

		31/12/2011		31/12/2010		31/12/2009
Total shareholders' equity (Total I)	DL	37 894 859	6,1%	35 731 569	10,4%	32 376 807
Equity and shareholders' equity	DA	3 664 603	0%	3 664 603	0%	3 664 603
Issue and merger premiums	DB	14 437 731	0%	14 437 731	0%	14 437 731
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	366 461	0%	366 461	0%	366 461
Statutory or contractual reserve	DE	15 103 482	29,4%	11 669 794	52,1%	7 671 842
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	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	337 960	0%	337 960	0%	337 960
Profit or loss for the period	DI	2 327 585	-34,5%	3 551 900	-14,9%	4 175 272
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	1 657 037	-2,7%	1 703 120	-1,2%	1 722 938

Other capital resources (II)

		31/12/2011		31/12/2010		31/12/2009
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)

		31/12/2011		31/12/2010		31/12/2009
Total provisions for risks and charges (Total III)	DR	314 911	-27,3%	433 271	-16,6%	519 511
Risk provisions	DP	314 911	-27,3%	433 271	-16,6%	519 511
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2011		31/12/2010		31/12/2009
Total Liabilities (Total IV)	EC	34 541 468	5,1%	32 853 462	-3,5%	34 052 290
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	8 153 537	16,7%	6 983 879	-17,3%	8 440 167
Sundry loans and financial liabilities	DV	2 029 801	2,0%	1 989 568	7,6%	1 849 681
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	99 169	50,8%	65 741	-47,7%	125 771
Trade accounts payables	DX	12 952 201	9,1%	11 872 394	6,0%	11 199 271
Tax and social security liabilities	DY	6 705 494	-1,8%	6 831 110	-21,4%	8 691 908
Fixed asset liabilities	DZ	208 285	126,5%	91 966	8,4%	84 852
Other debts	EA	764 308	-23,8%	1 002 891	2,4%	979 623

Translation loss (V)

		31/12/2011		31/12/2010		31/12/2009
Translation loss (Total V)	ED	0	0%	173	0%	0

Equalization accounts

		31/12/2011		31/12/2010		31/12/2009
Deferred income	EB	3 628 673	-9,6%	4 015 913	49,8%	2 681 017

References

		31/12/2011		31/12/2010		31/12/2009
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	28 446 031
Of which current bank facilities	EH	0	0%	0	0%	440 634

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)

		31/12/2011		31/12/2010		31/12/2009
Operating result (Total I-II)	GG	3 358 248	-35,7%	5 220 204	-22,2%	6 705 979

2 - Financial result (V - VI)

		31/12/2011		31/12/2010		31/12/2009
Financial result (Total V-VI)	GV	-505 257	-116,7%	-233 120	49,0%	-457 185

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

		31/12/2011		31/12/2010		31/12/2009
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	2 852 991	-42,8%	4 987 084	-20,2%	6 248 794

4 - Extraordinary result (VII-VIII)

		31/12/2011		31/12/2010		31/12/2009
Extraordinary result (Total VII-VIII)	HI	258 334	-46,5%	483 039	178,1%	173 700

Profit or loss

		31/12/2011		31/12/2010		31/12/2009
Profit or loss	HN	2 327 585	-34,5%	3 551 900	-14,9%	4 175 272

Total Income (I+III+V+VII)

		31/12/2011		31/12/2010		31/12/2009
Total Income (I+III+V+VII)	HL	118 202 969	-3,9%	123 038 415	-0,7%	123 895 076

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

		31/12/2011		31/12/2010		31/12/2009
Total charges (Total II+IV+VI+VIII+IX+X)	HM	115 875 382	-3,0%	119 486 516	-0,2%	119 719 803

Operating income (I)

		31/12/2011		31/12/2010		31/12/2009
Total operating income (Total I)	FR	116 364 627	-3,6%	120 718 866	-0,1%	120 884 942

Operating income (details)

		31/12/2011		31/12/2010		31/12/2009
Sale of goods for resale	FC	112 670 532	-3,9%	117 237 783	-0,7%	118 018 723
France	FA	112 385 551	-3,9%	117 002 484	-0,7%	117 873 371
Export	FB	284 981	21,1%	235 299	61,9%	145 352
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	2 324 527	1,9%	2 281 726	-1,8%	2 324 146
France	FG	2 324 527	1,9%	2 281 726	-1,8%	2 324 146
Export	FH	0	0%	0	0%	0
Net turnover	FL	114 995 059	-3,8%	119 519 509	-0,7%	120 342 869
France	FJ	114 710 078	-3,8%	119 284 210	-0,8%	120 197 517
Export	FK	284 981	21,1%	235 299	61,9%	145 352
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	141 056	103,6%	69 288	29,4%	53 535
Operating grants	FO	614 245	-11,3%	692 384	282,2%	181 134
Release of reserves and provisions	FP	504 333	50,9%	334 243	20,8%	276 691
Other income	FQ	109 934	6,3%	103 442	236,8%	30 713

Operating charges (II)

		31/12/2011		31/12/2010		31/12/2009
Total operating charges (Total II)	GF	113 006 379	-2,2%	115 498 662	1,2%	114 178 963

Exploitation charges

		31/12/2011		31/12/2010		31/12/2009
Purchase of goods for resale	FS	60 994 944	-4,9%	64 135 659	10,0%	58 308 053
Change in stocks of goods for resale	FT	-3 537 569	3,0%	-3 646 023	-280,5%	2 019 472
Purchase of raw materials	FU	5 831	-73,4%	21 884	311,5%	5 318
Change in stocks of raw materials	FV	6 933	-64,3%	19 407	128,4%	8 496
Other external purchases and charges	FW	26 696 050	3,0%	25 915 778	2,9%	25 187 640
Tax, duty and similar payments	FX	2 938 508	-24,4%	3 887 991	4,5%	3 719 718
Payroll	FY	16 972 778	3,4%	16 414 003	2,4%	16 023 777
Social security costs	FZ	6 002 361	3,5%	5 801 747	4,6%	5 547 164

Depreciation

		31/12/2011		31/12/2010		31/12/2009
Depreciation of fixed assets	GA	2 530 878	-0,4%	2 541 496	-3,0%	2 618 939
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	260 779	-8,7%	285 562	-54,3%	625 207
Provisions for risks and charges	GD	16 000	-41,3%	27 272	581,8%	4 000

Other charges

		31/12/2011		31/12/2010		31/12/2009
Other charges	GE	118 886	26,6%	93 886	-15,6%	111 179

Operating charges (III-IV)

		31/12/2011		31/12/2010		31/12/2009
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)

		31/12/2011		31/12/2010		31/12/2009
Total financial income (Total V)	GP	542 749	-28,6%	760 383	3,9%	731 765
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	142 871	0,4%	142 365	23,7%	115 097
Released provisions and transferred charges	GM	45 708	1348,3%	3 156	-95,2%	65 722
Exchange gains	GN	354 163	-42,4%	614 862	11,6%	550 946
Net income from disposal of investment securities	GO	07	0%	0	0%	0

Financial Charge (VI)

		31/12/2011		31/12/2010		31/12/2009
Total financial charge (Total VI)	GU	1 048 006	5,5%	993 503	-16,4%	1 188 950
Financial reserves and provisions	GQ	31 025	122,9%	13 919	-18,9%	17 168
Interest and similar charges	GR	414 282	0,1%	413 759	-39,9%	688 499
Exchange losses	GS	594 854	5,1%	565 825	17,1%	483 283
Net loss from disposal of investment securities	GT	7 845	0%	0	0%	0

Extraordinary income (VII)

		31/12/2011		31/12/2010		31/12/2009
Total extraordinary income (Total VII)	HD	1 295 593	-16,9%	1 559 166	-31,6%	2 278 369
Extraordinary operating income	HA	245 598	-34,7%	376 151	-13,2%	433 308
Extraordinary income from capital transactions	HB	657 264	-13,5%	759 498	-55,9%	1 723 729
Released provisions and transferred charges	HC	392 731	-7,3%	423 517	249,1%	121 332

Extraordinary charges (VIII)

		31/12/2011		31/12/2010		31/12/2009
Total extraordinary charges (Total VIII)	HH	1 037 259	-3,6%	1 076 127	-48,9%	2 104 669
Extraordinary operating charges	HE	444 039	60,9%	275 971	-54,4%	605 479
Extraordinary charges from capital transactions	HF	137 276	-24,8%	182 604	-59,0%	445 280
Extraordinary reserves and provisions	HG	455 944	-26,2%	617 552	-41,4%	1 053 910

Employee profit sharing (IX)

		31/12/2011		31/12/2010		31/12/2009
Employee profit sharing (Total IX)	HJ	39 669	-90,1%	401 628	-39,9%	667 866

Tax on profits (X)

		31/12/2011		31/12/2010		31/12/2009
Tax on profits (Total X)	HK	744 069	-50,9%	1 516 596	-4,0%	1 579 355

References

		31/12/2011		31/12/2010		31/12/2009
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	638 332	8,5%	588 348	0%	0
Of which transferred charges	A1	417 260	52,4%	273 703	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	46 839	21,1%	38 670	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2011		31/12/2010		31/12/2009
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	15 290	-40,1%	25 521	0%	0
Decreases by transfers	OK2	917 410	-75,2%	3 704 256	4,3%	3 551 538
Gross value at the end of period	OL	48 857 004	4,3%	46 821 643	-4,3%	48 942 968

Research and development Charge (Total I)

		31/12/2011		31/12/2010		31/12/2009
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)

		31/12/2011		31/12/2010		31/12/2009
Gross value at begin of period	KD	1 268 621	0,3%	1 265 325	7,1%	1 181 377
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	67 308	1942,1%	3 296	-97,3%	123 948
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	164 555	0%	0	0%	40 000
Gross value at the end of period	LW	1 171 374	-7,7%	1 268 621	0,3%	1 265 325

Tangible fixed assets (Total III)

		31/12/2011		31/12/2010		31/12/2009
Gross value at begin of period	LN	39 419 249	-5,1%	41 554 969	-5,1%	43 795 705
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	2 807 840	80,2%	1 557 857	23,7%	1 258 970
Decreases by budget item transfer	NG1	15 290	-40,1%	25 521	0%	0
Decreases by transfers	NG2	752 854	-79,5%	3 668 055	4,8%	3 499 705
Gross value at the end of period	NH	41 458 945	5,2%	39 419 250	-5,1%	41 554 970

Financial assets (Total IV)

		31/12/2011		31/12/2010		31/12/2009
Gross value at begin of period	LQ	6 133 773	0,2%	6 122 673	0,9%	6 070 865
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	92 912	96,4%	47 300	-25,7%	63 641
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	36 201	205,9%	11 833
Gross value at the end of period	NK	6 226 685	1,5%	6 133 772	0,2%	6 122 673

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

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	PE	497 741	13,6%	437 972	12,2%	390 514
Increases		PF	56 751	-5,1%	59 770	25,9%	47 457
Decreases		PG	0	0%	0	0%	0
	Decreases by budget item transfer	PH	554 492	11,4%	497 742	13,6%	437 971

Total fixed assets amortisation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	QU	24 356 813	0,5%	24 234 597	2,7%	23 603 005
Increases		QV	2 686 753	-3,3%	2 779 806	-1,5%	2 821 972
Decreases		QW	615 580	-76,8%	2 657 589	21,3%	2 190 380
	Decreases by budget item transfer	QX	26 427 988	8,5%	24 356 814	0,5%	24 234 597

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

			31/12/2011		31/12/2010		31/12/2009
	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

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Value at beginning of period	7C	5 403 417	3,2%	5 238 404	25,1%	4 189 035
Increases		UB	551 122	-14,7%	646 226	-55,4%	1 449 794
Decreases		UC	525 512	9,2%	481 213	20,2%	400 426
	Value at the end of period	UD	5 429 027	0,5%	5 403 417	3,2%	5 238 404

Includes Total allocations

Operating	UE	276 779	-11,5%	312 834	-50,3%	629 207
Financial	UG	31 025	122,9%	13 919	-18,9%	17 168
Exceptional	UJ	243 318	-23,8%	319 473	-60,2%	803 419

Includes Total Withdrawal

Operating	UF	87 073	59,6%	54 540	-74,4%	213 371
Financial	UH	45 708	1348,3%	3 156	-95,2%	65 722
Exceptional	UK	392 731	-7,3%	423 517	249,1%	121 332

Total regulated provisions (Total I)

			31/12/2011		31/12/2010		31/12/2009
	Value at beginning of period	3Z	1 703 120	-1,2%	1 722 938	15,7%	1 488 577
Increases		TS	98 318	-42,0%	169 473	-52,4%	355 693
Decreases		TT	144 400	-23,7%	189 291	56,0%	121 332
	Value at the end of period	TU	1 657 038	-2,7%	1 703 120	-1,2%	1 722 938

Total risk and charge provisions (Total II)

			31/12/2011		31/12/2010		31/12/2009
	Value at beginning of period	5Z	433 271	-16,6%	519 511	119,2%	236 957
Increases		TV	165 048	-8,1%	179 606	-60,5%	454 346
Decreases		TW	283 409	6,6%	265 846	54,7%	171 792
	Value at the end of period	TX	314 910	-27,3%	433 271	-16,6%	519 511

Total Provision for depreciation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Value at beginning of period	7B	3 267 026	9,0%	2 995 955	21,6%	2 463 502
Increases		TY	287 756	-3,2%	297 147	-53,6%	639 755
Decreases		TZ	97 703	274,7%	26 076	-75,7%	107 302
	Value at the end of period	UA	3 457 079	5,8%	3 267 026	9,0%	2 995 955

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

		31/12/2011		31/12/2010		31/12/2009
Gross value	VT	13 980 106	2,3%	13 668 384	10,8%	12 336 952
1 year at most	VU	10 437 315	2,4%	10 190 626	-12,8%	11 692 478
More than one year	VV	3 542 791	1,9%	3 477 758	439,6%	644 474

State of loans

		31/12/2011		31/12/2010		31/12/2009
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	1 065 242	9,0%	977 145	1,1%	966 182
Other financial assets (1 year at most)	UV	1 065 242	9,0%	977 145	1,1%	966 182

Receivables statement of assets

		31/12/2011		31/12/2010		31/12/2009
Customers doubtful or disputed	VA	976 396	6,2%	919 756	10,8%	830 112
Other claims customer	UX	7 225 121	-8,1%	7 860 123	29,9%	6 051 161
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	51 361	4,2%	49 309	4,7%	47 092
Social Security and other social organizations	UZ	52 181	0%	0	0%	7 737
Income taxes	VM	773 669	1100,4%	64 453	0%	0
Value added tax	VB	157 551	-37,0%	250 136	49,2%	167 692
Other taxes and payments assimilated	VN	302 573	280,1%	79 599	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	2 781 546	0,8%	2 760 272	0,8%	2 737 858
Accounts receivable (including claims relating to the operation of pension titles)	VR	170 386	-48,6%	331 439	-71,2%	1 149 727

Prepaid

		31/12/2011		31/12/2010		31/12/2009
Prepaid	VS	424 080	12,7%	376 151	-0,9%	379 391

State Debt

			31/12/2011		31/12/2010		31/12/2009
	Total debt (gross)	VY	34 442 298	5,0%	32 787 721	-3,7%	34 052 290
1 year at most		VZ2	27 174 310	7,0%	25 398 706	-10,7%	28 446 031
More than 1 year and 5 years at most		VZ3	5 222 596	-1,6%	5 309 303	1,2%	5 247 252
More than 5 years		VZ4	2 045 392	-1,7%	2 079 712	479,3%	359 007

Details

			31/12/2011		31/12/2010		31/12/2009
	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	1 958 776	45,0%	1 350 820	0%	0
1 year at most		VG2	1 958 776	45,0%	1 350 820	0%	0
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	6 194 761	10,0%	5 633 059	-33,3%	8 440 167
1 year at most		VH2	2 168 207	15,8%	1 872 717	-32,1%	2 759 853
More than 1 year and 5 years at most		VH3	3 673 634	-2,3%	3 760 342	-28,3%	5 247 252
	Loans and various financial liabilities (gross)	8A1	52 530	1,2%	51 906	-25,2%	69 378
1 year at most		8A2	52 530	1,2%	51 906	-25,2%	69 378
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	12 952 201	9,1%	11 872 394	6,0%	11 199 271
1 year at most		8B2	12 952 201	9,1%	11 872 394	6,0%	11 199 271
More than 1 year and 5 years at most		8B3	12 952 201	9,1%	11 872 394	6,0%	11 199 271
	Personnel and associated accounts (gross)	8C1	2 424 577	-9,1%	2 666 740	0%	0
1 year at most		8C2	2 424 577	-9,1%	2 666 740	-3,4%	2 759 853
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	2 675 876	8,6%	2 463 589	-2,9%	2 537 316
1 year at most		8D2	2 675 876	8,6%	2 463 589	-2,9%	2 537 316
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	1 421 962
1 year at most		8E2	0	0%	0	0%	1 421 962
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	1 157 007	-6,6%	1 238 672	-12,7%	1 418 555
1 year at most		VW2	1 157 007	-6,6%	1 238 672	-12,7%	1 418 555
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	448 034	-3,0%	462 108	-16,6%	554 221
1 year at most		VQ2	448 034	-3,0%	462 108	-16,6%	554 221
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	208 285	126,5%	91 966	8,4%	84 852
1 year at most		8J2	208 285	126,5%	91 966	8,4%	84 852
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	1 977 270	2,0%	1 937 662	8,8%	1 780 303
1 year at most		VI2	1 977 270	2,0%	1 937 662	8,8%	1 780 303
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	764 308	-23,8%	1 002 891	-9,3%	1 105 394
1 year at most		8K2	764 308	-23,8%	1 002 891	-9,3%	1 105 394
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	3 628 673	-9,6%	4 015 913	49,8%	2 681 017
1 year at most		8L2	387 240	0%	387 240	-85,6%	2 681 017
More than 1 year and 5 years at most		8L3	1 548 961	0%	1 548 961	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	2 355 243	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2011		31/12/2010		31/12/2009
Dividends	ZE	118 212	-33,3%	177 320	200,0%	59 106

Commitments

		31/12/2011		31/12/2010		31/12/2009
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	6 079 740	-9,3%	6 706 368	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2011		31/12/2010		31/12/2009
Subcontracting	YT	4 609 629	-0,2%	4 616 950	-1,1%	4 670 000
Rentals, rental charges and condominiums	XQ	10 064 665	13,0%	8 906 968	-0,1%	8 920 250
Staff outside the company	YU	911	-89,4%	8 569	-85,4%	58 531
Remuneration intermediaries and fees (excluding fees)	SS	530 491	25,0%	424 443	0,7%	421 661
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	11 490 354	-3,9%	11 958 848	7,6%	11 117 198
Total Other purchases and external	ZJ	26 696 050	586,6%	25 915 778	2,9%	25 187 640

Taxes and Fees

		31/12/2011		31/12/2010		31/12/2009
Business tax	YW	1 326 522	-2,5%	1 360 741	6,3%	1 279 681
Other taxes and payments assimilated	9Z	1 611 986	-36,2%	2 527 250	3,6%	2 440 037
Total taxes and fees	YX	2 938 508	-24,4%	3 887 991	4,5%	3 719 718

VAT

		31/12/2011		31/12/2010		31/12/2009
Amount VAT collected	YY	22 842 378	-2,6%	23 444 024	0,0%	23 439 038
Total VAT on goods and services	YZ	16 380 991	-5,0%	17 251 211	4,7%	16 477 463

Average number of employees

		31/12/2011		31/12/2010		31/12/2009
Average number of employees	YP	662	-6,1%	705	14,4%	616

Groups and Shareholders

		31/12/2011		31/12/2010		31/12/2009
Groups and Shareholders	ZR	01	-	01	-	0

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Fixed Asset Financing	1,54	3,4%	1,49	8,0%	1,38	1,45	6,2%
Global Debt	108 days	9,1%	99 days	-2,9%	102 days	175 days	-38,3%
Working Capital Fund overall net	83 days	18,6%	70 days	27,3%	55 days	63 days	31,7%
Financial independence	464,77%	-9,2%	511,63%	33,4%	383,60%	122,75%	278,6%
More ratios
Solvability	52,09%	0,6%	51,77%	7,1%	48,36%	28,25%	84,4%
Capacity debt futures	918,22%	-17,2%	1108,46%	-5,5%	1173,14%	776,47%	18,3%
Coverage of current assets by net working capital overall	48,79%	6,1%	46%	17,7%	39,09%	39,96%	22,1%
General Liquidity	0,38	-5,0%	0,40	-2,4%	0,41	0,07	442,9%
Restricted Liquidity	0,42	-2,3%	0,43	-15,7%	0,51	0,26	61,5%

Management or rotation

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Need background in operating working capital	91 days	13,8%	80 days	42,9%	56 days	26 days	250,0%
Treasury	3 days	50,0%	2 days	-71,4%	7 days	1 days	200%
Inventory turnover of goods	242 days	15,8%	209 days	11,2%	188 days	200 days	21,0%
Average length of credit granted to customers	21 days	-4,5%	22 days	29,4%	17 days	0 days	0%
Average length of credit obtained suppliers	46 days	12,2%	41 days	2,5%	40 days	54 days	-14,8%
More ratios
Inventory turnover of raw materials in industrial enterprises	32 days	-30,4%	46 days	-62,9%	124 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	days	-	days	413 days	-
Rotation tangible assets	277,37%	-8,5%	303,20%	4,7%	289,60%	692,68%	-60,0%

Profitability of the business

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Margin trading	48,01%	1,1%	47,48%	-1,0%	47,94	41,65%	15,3%
Profitability of the business	4,93	-23,8%	6,47	-20,2%	8,11	4,96%	-0,6%
Net profit	2,02%	-32,0%	2,97%	-14,4%	3,47%	2,63%	-23,2%
More ratios
Growth rate of turnover (excluding VAT)	-3,79%	-457,4%	-0,68%	93,9%	-11,22%	0,87%	-535,6%
Rates integration	26,93%	-2,9%	27,73%	-4,3%	28,97%	25,96%	3,7%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	74,19%	10,7%	67,03%	8,3%	61,87%	72,76%	2,0%
Weight interests	0,91	9,6%	0,83%	-16,2%	0,99%	0,56%	62,5%

Return on capital

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Cash flow from the overall profitability	3,74%	-21,1%	4,74%	-7,8%	5,14%	4,17%	-10,3%
Rates of economic profitability	12%	-29,4%	17%	-26,1%	23%	11%	9,1%
Financial profitability	37894859%	6,1%	35731569%	10,4%	32376807%	12693%	298449,3%
Return on investment	7,02%	-31,0%	10,17%	-19,1%	12,57%	7,58%	-7,4%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Turnover	114 995 059	-3,8%	119 519 509	-0,7%	120 342 869	277 154 €	41391,4%

Sales of goods	112 670 532	-3,9%	117 237 783	-0,7%	118 018 723
- Purchase of goods	60 994 944	-4,9%	64 135 659	10,0%	58 308 053
+/- Stock of goods variation	-3 537 569	3,0%	-3 646 023	-280,5%	2 019 472
Trading margin	55 213 157 €	-2,7%	56 748 147 €	-1,6%	57 691 198 €	112 577 €	48944,8%
	48,01 % CA	1,1%	47,48 % CA	-1,0%	47,94 % CA	41,74 % CA	15,0%

Sale of goods produced	2 324 527	1,9%	2 281 726	-1,8%	2 324 146
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	141 056	103,6%	69 288	29,4%	53 535
Period production	2 465 583 €	4,9%	2 351 014 €	-1,1%	2 377 681 €	0 €	0%
	2,14 % CA	8,6%	1,97 % CA	-0,5%	1,98 % CA	0 % CA	0%

Trading margin	55 213 157	-2,7%	56 748 147	-1,6%	57 691 198	112 577	48944,8%
+ Period Production	2 465 583	4,9%	2 351 014	-1,1%	2 377 681	0	0%
- Purchase of raw materials	5 831	-73,4%	21 884	311,5%	5 318
+/- Change in stocks of raw materiels	6 933	-64,3%	19 407	128,4%	8 496
- Other external purchases and charges	26 696 050	3,0%	25 915 778	2,9%	25 187 640
Added value	30 969 926 €	-6,6%	33 142 092 €	-4,9%	34 867 425 €	74 336,50 €	41561,8%
	26,93 % CA	-2,9%	27,73 % CA	-4,3%	28,97 % CA	25,96 % CA	3,7%

Added value	30 969 926 €	-6,6%	33 142 092 €	-4,9%	34 867 425 €	74 336,50 €	41561,8%
+ Operating grants	614 245	-11,3%	692 384	282,2%	181 134
- Tax, duty and similar payments	2 938 508	-24,4%	3 887 991	4,5%	3 719 718
- Personal charges	22 975 139	3,4%	22 215 750	3,0%	21 570 941
Gross operating surplus	5 670 524 €	-26,6%	7 730 735 €	-20,8%	9 757 900 €	12 895 €	43874,6%
	4,93 % CA	-23,8%	6,47 % CA	-20,2%	8,11 % CA	4,96 % CA	-0,6%

Gross operating surplus	5 670 524 €	-26,6%	7 730 735 €	-20,8%	9 757 900 €	12 895 €	43874,6%
+ Release of reserves and provisions	504 333	50,9%	334 243	20,8%	276 691
+ Other operating income	109 934	6,3%	103 442	236,8%	30 713
- Depreciation/Amortisation	2 807 657	-1,6%	2 854 330	-12,1%	3 248 146
- Other charges	118 886	26,6%	93 886	-15,6%	111 179
Operating result	3 358 248 €	-35,7%	5 220 204 €	-22,2%	6 705 979 €	8 698,50 €	38507,2%
	2,92 % CA	-33,2%	4,37 % CA	-21,5%	5,57 % CA	3,52 % CA	-17,0%

Operating result	3 358 248 €	-35,7%	5 220 204 €	-22,2%	6 705 979 €	8 698,50 €	38507,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	542 749	-28,6%	760 383	3,9%	731 765
- Financial charges	1 048 006	5,5%	993 503	-16,4%	1 188 950
Pre-tax result	2 852 991 €	-42,8%	4 987 084 €	-20,2%	6 248 794 €	7 004,50 €	40630,8%
	2,48 % CA	-40,5%	4,17 % CA	-19,7%	5,19 % CA	2,77 % CA	-10,5%

Extraordinary income	1 295 593	-16,9%	1 559 166	-31,6%	2 278 369	0	0%
- Extraordinary charges	1 037 259	-3,6%	1 076 127	-48,9%	2 104 669
Extraordinary result	258 334 €	-46,5%	483 039 €	178,1%	173 700 €	0 €	0%
	0,22 % CA	-45,0%	0,40 % CA	185,7%	0 % CA	0 % CA	0%

Pre-tax result	2 852 991 €	-42,8%	4 987 084 €	-20,2%	6 248 794 €	7 004,50 €	40630,8%
Extraordinary result	258 334 €	-46,5%	483 039 €	178,1%	173 700 €	0 €	0%
- Employee profit sharing	39 669	-90,1%	401 628	-39,9%	667 866
- Tax on profits	744 069	-50,9%	1 516 596	-4,0%	1 579 355
Net result	2 327 587 €	-34,5%	3 551 899 €	-14,9%	4 175 273 €	6 847,50 €	33891,8%
	2,02 % CA	-32,0%	2,97 % CA	-14,4%	3,47 % CA	2,63 % CA	-23,2%

Consolidated Accounts

Active Account |  Passive Account |  Account Results |  Consolidation

Synthesized Accounts

Annual Accounts	31/12/2006	31/12/2005
Account period (month)	12	12
Account Type	Consolidated	Consolidated
Activity Code	4772A	4772A

Active account

Annual Accounts	31/12/2006		31/12/2005
Capital not called	0	0%	0
Total fixed assets	24 850 628	5,1%	23 648 649
- Intangible assets	3 047 332	6,2%	2 870 610
- Tangible assets	21 000 262	4,2%	20 160 917
- Financial assets	803 034	30,1%	617 121
Net current assets	32 266 691	11,2%	29 021 486
- Stocks	25 404 452	9,9%	23 107 361
- Advanced payments	1 904 122	35,5%	1 405 278
- Receivables	4 562 125	9,4%	4 171 680
- Securities and cash	395 992	17,4%	337 168
Accounts of regularization	0	0%	1 554
Total Assets	57 117 319	8,4%	52 671 690

Passive Account

Annual Accounts	31/12/2006		31/12/2005
Shareholders' equity	26 251 671	1,3%	25 906 043
Share capital	3 664 603	0%	3 664 603
Other capital resources	0	0%	0
Risk Provisions	1 290 187	52,8%	844 162
Liabilities	29 571 892	14,1%	25 921 415
- Financial liabilities	11 667 051	12,9%	10 337 273
- Advanced payments received	185 397	40,0%	132 434
- Trade account payables	10 695 739	24,7%	8 580 270
- Tax and social liabilities	5 904 423	11,3%	5 306 979
- Other debts and fixed assets liabilities	1 122 851	-28,2%	1 564 529
Account regularization	0	0%	0
Total liabilities	57 117 319	8,4%	52 671 690

Results

Annual Accounts	31/12/2006		31/12/2005
Sales of Goods	105 380 806	2,7%	102 655 253
Net turnover	104 819 057	2,9%	101 912 079
- of which net export turnover	4 296	0%	0
Operating charges	103 290 068	3,3%	99 967 093
Operating profit/loss	2 090 739	-22,2%	2 688 159
Financial income	539 679	76,7%	305 420
Financial charges	768 005	14,4%	671 558
Financial profit/loss	-228 326	37,6%	-366 138
Pretax net operating income	1 862 413	-19,8%	2 322 022
Extraordinary income	358 042	-54,0%	778 779
Extraordinary charges	1 291 964	3,7%	1 246 097
Extraordinary profit/loss	-933 922	-99,8%	-467 318

Consolidation

Annual Accounts	31/12/2006		31/12/2005
Net result before amortisation of goodwill	588 306	-48,9%	1 150 217
Goodwill amortisation allocation	0	0%	0
Net result of equity affiliates companies	0	0%	0
Net result of integrated companies	0	0%	0
Group result (consolidated net result)	588 306	-48,9%	1 150 217
Share of minority interest (Result except group)	0	0%	0
Net result - group share (part of parent company)	588 306	-48,9%	1 150 217

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2006	31/12/2005
Months	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2006		31/12/2005
Grand Total (I to VI)	Net	57 117 319	8,4%	52 671 690
Gross	CO	82 530 791	7,1%	77 029 584
Amortisation	1A	25 413 471	4,3%	24 357 895

Capital subscribed not called (I)

		31/12/2006		31/12/2005
Capital suscribed not called (I)	AA3	0	0%	0

Active fixed asset (II)

		31/12/2006		31/12/2005
Total Active fixed asset (II)	Net	24 850 628	5,1%	23 648 649
Gross	BJ	48 039 882	5,0%	45 765 307
Amortisation	BK	23 189 254	4,8%	22 116 658

Intangible fixed assets

		31/12/2006		31/12/2005
Start-up cost	Net	0	0%	0
Gross	AB	0	0%	0
Amortisation	AC	0	0%	0
R&D expenses	Net	0	0%	0
Gross	CX	198 184	0%	198 184
Amortisation	AE	198 184	0%	198 184
Distributorships, patents	Net	65 693	-39,7%	108 971
Gross	AF	368 686	2,0%	361 453
Amortisation	AG	302 993	20,0%	252 482
Goodwill	Net	2 971 639	8,0%	2 751 639
Gross	AH	2 971 639	8,0%	2 751 639
Amortisation	AI	0	0%	0
Other intangible fixed assets	Net	10 000	0%	10 000
Gross	AJ	10 000	0%	10 000
Amortisation	AK	0	0%	0
Pre-payments and downpayments	Net	0	0%	0
Gross	AL	0	0%	0
Amortisation	AM	0	0%	0

Tangible fixed assets

		31/12/2006		31/12/2005
Acquisition difference	Net	0	0%	0
Gross	A11	0	0%	0
Amortisation	A12	0	0%	0
Goodwill	Net	0	0%	0
Gross	A21	0	0%	0
Amortisation	A22	0	0%	0
Difference from the first consolidation	Net	0	0%	0
Gross	A31	0	0%	0
Amortisation	A32	0	0%	0
Lands	Net	2 340 357	2,0%	2 294 857
Gross	AN	2 340 357	2,0%	2 294 857
Amortisation	AO	0	0%	0
Buildings	Net	14 840 319	0,5%	14 763 145
Gross	AP	31 379 321	2,5%	30 606 830
Amortisation	AQ	16 539 002	4,4%	15 843 685
Plant	Net	141 336	-21,7%	180 450
Gross	AR	571 474	1,5%	562 931
Amortisation	AS	430 138	12,5%	382 481
Other tangible fixed assets	Net	3 621 261	40,3%	2 581 064
Gross	AT	9 311 997	17,0%	7 962 198
Amortisation	AU	5 690 736	5,8%	5 381 134
Fixed assets in construction	Net	55 740	-83,6%	340 807
Gross	AV	55 740	-83,6%	340 807
Amortisation	AW	0	0%	0
Advances and payments on account	Net	1 249	110,3%	594
Gross	AX	1 249	110,3%	594
Amortisation	AY	0	0%	0

Financial assets

		31/12/2006		31/12/2005
Associates at equity	Net	0	0%	0
Gross	CS	0	0%	0
Amortisation	CT	0	0%	0
Other participations	Net	35 380	645,8%	4 744
Gross	CU	63 581	0,2%	63 437
Amortisation	CV	28 201	-52,0%	58 693
Inter-company receivables	Net	0	0%	0
Gross	BB	0	0%	0
Amortisation	BC	0	0%	0
Other investment securities	Net	0	0%	0
Gross	BD	0	0%	0
Amortisation	BE	0	0%	0
Loans	Net	0	0%	0
Gross	BF	0	0%	0
Amortisation	BG	0	0%	0
Other financial assets	Net	767 654	25,4%	612 377
Gross	BH	767 654	25,4%	612 377
Amortisation	BI	0	0%	0
Other financial assets	Net	0	0%	0
Gross	A41	0	0%	0
Amortisation	A42	0	0%	0

Current Assets (III)

		31/12/2006		31/12/2005
Total Assets	Net	32 266 691	11,2%	29 021 486
Gross	CJ	34 490 908	10,3%	31 262 723
Amortisation	CK	2 224 217	-0,8%	2 241 237

Stocks

		31/12/2006		31/12/2005
Raw materials	Net	67 081	-0,3%	67 256
Gross	BL	67 081	-0,3%	67 256
Amortisation	BM	0	0%	0
Work in progress (goods)	Net	0	0%	0
Gross	BN	0	0%	0
Amortisation	BO	0	0%	0
Work in progress (services)	Net	0	0%	0
Gross	BP	0	0%	0
Amortisation	BQ	0	0%	0
Semi-finished and finished products	Net	0	0%	0
Gross	BR	0	0%	0
Amortisation	BS	0	0%	0
Goods for resale	Net	25 337 371	10,0%	23 040 105
Gross	BT	27 045 577	9,7%	24 649 375
Amortisation	BU	1 708 206	6,1%	1 609 270

Advance payments to suppliers

		31/12/2006		31/12/2005
Advance payments to suppliers	Net	1 904 122	35,5%	1 405 278
Gross	BV	1 904 122	35,5%	1 405 278
Amortisation	BW	0	0%	0

Debtors

		31/12/2006		31/12/2005
Trade accounts receivable	Net	1 546 098	-10,6%	1 729 767
Gross	BX	1 942 869	-9,1%	2 137 734
Amortisation	BY	396 771	-2,7%	407 967
Other debtors	Net	1 950 950	38,5%	1 408 398
Gross	BZ	1 950 950	38,5%	1 408 398
Amortisation	CA	0	0%	0
Capital subscribed and called up	Net	0	0%	0
Gross	CB	0	0%	0
Amortisation	CC	0	0%	0

Divers

		31/12/2006		31/12/2005
Investment securities	Net	285 346	16,4%	245 140
Gross	CD	404 586	-13,8%	469 140
Amortisation	CE	119 240	-46,8%	224 000
Cash and cash equivalents	Net	110 646	20,2%	92 028
Gross	CF	110 646	20,2%	92 028
Amortisation	CG	0	0%	0

Prepaid expenses

		31/12/2006		31/12/2005
Prepaid expenses	Net	1 065 077	3,1%	1 033 515
Gross	CH	1 065 077	3,1%	1 033 515
Amortisation	CI	0	0%	0

Equalization accounts (IV to VI)

		31/12/2006		31/12/2005
Multi-period charges	CW3	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0
Currency differential gain	CN3	0	0%	1 554

References

		31/12/2006		31/12/2005
Due within one year	CP	0	0%	612 377
Due after one year	CR	396 772	-2,7%	407 968

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)

		31/12/2006		31/12/2005
Grand Total (I to IV)	EE	57 117 319	8,4%	52 671 690

Shareholder Equity (I)

		31/12/2006		31/12/2005
Total shareholders' equity (Total I)	DL	26 251 671	1,3%	25 906 043
Equity and shareholders' equity	DA	3 664 603	0%	3 664 603
Issue and merger premiums	DB	14 437 731	0%	14 437 731
Revaluation differentials	DC	0	0%	0
Of which equity differential	EK	0	0%	0
Legal reserve	DD	320 737	21,4%	264 107
Statutory or contractual reserve	DE	5 272 682	0%	5 272 682
Special regulated reserves	DF	0	0%	0
Other reserves	DG	0	0%	0
Profits or losses brought forward	DH	1 967 613	162,8%	748 793
Conversion differences	P1	0	0%	0
Net result - group part	P2	588 306	-48,9%	1 150 217
Investment grants	DJ	0	0%	0
Special tax-allowable reserves	DK	0	0%	367 910

Other capital resources (II)

		31/12/2006		31/12/2005
Total other capital resources (Total II)	DO	0	0%	0
Income from participating securities	DM	0	0%	0
Conditional loans	DN	0	0%	0
Others	P3	0	0%	0

Provisions for risks and charges (III)

		31/12/2006		31/12/2005
Total provisions for risks and charges (Total III)	DR	1 290 187	52,8%	844 162
Conversion differences	P4	0	0%	0
In reserves	P5	0	0%	0
In results	P6	0	0%	0
Total III	P7	0	0%	0
Delayed tax	P8	0	0%	0
Acquisition differences	P9	0	0%	0
Risk provisions	DP	694 833	145,8%	282 698
Reserves for charges	DQ	595 354	6,0%	561 464

Liabilities (IV)

		31/12/2006		31/12/2005
Total Liabilities (Total IV)	EC	29 571 892	14,1%	25 921 415
Convertible debentures	DS	0	0%	0
Other debentures	DT	0	0%	0
Bank loans and liabilities	DU	10 605 100	14,3%	9 276 819
Sundry loans and financial liabilities	DV	1 061 951	0,1%	1 060 454
Of which participating loans	EI	0	0%	0
Advance payments received for current orders	DW	185 397	40,0%	132 434
Trade accounts payables	DX	10 695 739	24,7%	8 580 270
Tax and social security liabilities	DY	5 904 423	11,3%	5 306 979
Fixed asset liabilities	DZ	225 655	-43,1%	396 827
Other debts	EA	893 627	-23,5%	1 167 632

Translation loss (V)

		31/12/2006		31/12/2005
Translation loss (Total V)	ED	3 569	4998,6%	70

Equalization accounts

		31/12/2006		31/12/2005
Deferred income	EB	0	0%	0

References

		31/12/2006		31/12/2005
Of which tax-allowable reserve	EF	0	0%	0
Deferred income and liabilities	EG	24 991 994	0,1%	24 968 375
Of which current bank facilities	EH	4 231 708	-43,9%	7 541 986

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2006		31/12/2005
Operating result (Total I-II)	GG	2 090 739	-22,2%	2 688 159

2 - Financial result (V - VI)

		31/12/2006		31/12/2005
Financial result (Total V-VI)	GV	-228 326	37,6%	-366 138

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

		31/12/2006		31/12/2005
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1 862 413	-19,8%	2 322 022

4 - Extraordinary result (VII-VIII)

		31/12/2006		31/12/2005
Extraordinary result (Total VII-VIII)	HI	-933 922	-99,8%	-467 318

Consolidation

		31/12/2006		31/12/2005
Delayed tax	R1	0	0%	0
Net result before amortisation of acquisition differences	R2	588 306	-48,9%	1 150 217
Endowment to amortisation of acquisition differences	R3	0	0%	0
Net result of companies set in equivalence	R4	0	0%	0
Net result of integrated companies	R5	0	0%	0
Group result (consolidated net result)	R6	588 306	-48,9%	1 150 217
Cross-reference : equipment leasing	R7	0	0%	0
Cross-reference : property leasing	R8	588 306	-48,9%	1 150 217

Operating income (I)

		31/12/2006		31/12/2005
Total operating income (Total I)	FR	105 380 806	2,7%	102 655 253

Operating income (details)

		31/12/2006		31/12/2005
Sale of goods for resale	FC	104 318 732	3,0%	101 235 209
France	FA	104 314 436	3,0%	101 235 209
Export	FB	4 296	0%	0
Sale of goods produced	FF	0	0%	0
France	FD	0	0%	0
Export	FE	0	0%	0
Sale of services	FI	500 325	-26,1%	676 869
France	FG	500 325	-26,1%	676 869
Export	FH	0	0%	0
Net turnover	FL	104 819 057	2,9%	101 912 079
France	FJ	104 814 761	2,8%	101 912 079
Export	FK	4 296	0%	0
Stocked production	FM	0	0%	0
Self-constructed assets	FN	155 528	-29,1%	219 516
Operating grants	FO	56 655	-38,4%	91 959
Release of reserves and provisions	FP	233 322	-22,0%	299 091
Other income	FQ	116 244	-12,3%	132 608

Operating charges (II)

		31/12/2006		31/12/2005
Total operating charges (Total II)	GF	103 290 068	3,3%	99 967 093

Exploitation charges

		31/12/2006		31/12/2005
Purchase of goods for resale	FS	56 927 238	-0,3%	57 099 514
Change in stocks of goods for resale	FT	-2 396 202	34,6%	-3 663 925
Purchase of raw materials	FU	309 525	-36,3%	485 953
Change in stocks of raw materials	FV	175	-99,3%	25 050
Other external purchases and charges	FW	21 497 206	8,2%	19 875 453
Tax, duty and similar payments	FX	2 889 172	5,8%	2 730 543
Payroll	FY	15 754 510	3,7%	15 198 293
Social security costs	FZ	5 620 961	2,2%	5 502 523

Depreciation

		31/12/2006		31/12/2005
Depreciation of fixed assets	GA	2 303 314	5,3%	2 187 712
Amortisation of fixed assets	GB	0	0%	0
Depreciation/amortisation of current assets	GC	183 902	-32,9%	274 076
Provisions for risks and charges	GD	95 961	-32,0%	141 166

Other charges

		31/12/2006		31/12/2005
Other charges	GE	104 305	-5,8%	110 736

Operating charges (III-IV)

		31/12/2006		31/12/2005
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0

Financial income (V)

		31/12/2006		31/12/2005
Total financial income (Total V)	GP	539 679	76,7%	305 420
Share financial income	GJ	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0
Other interest and similar income	GL	163 094	37,8%	118 357
Released provisions and transferred charges	GM	137 046	1613,1%	8 000
Exchange gains	GN	239 539	33,8%	179 063
Net income from disposal of investment securities	GO	0	0%	0

Financial Charge (VI)

		31/12/2006		31/12/2005
Total financial charge (Total VI)	GU	768 005	14,4%	671 558
Financial reserves and provisions	GQ	240	-95,3%	5 054
Interest and similar charges	GR	538 067	28,6%	418 453
Exchange losses	GS	176 698	-28,8%	248 051
Net loss from disposal of investment securities	GT	53 000	0%	0

Extraordinary income (VII)

		31/12/2006		31/12/2005
Total extraordinary income (Total VII)	HD	358 042	-54,0%	778 779
Extraordinary operating income	HA	252 455	-6,8%	270 962
Extraordinary income from capital transactions	HB	105 587	-77,0%	459 033
Released provisions and transferred charges	HC	0	0%	48 784

Extraordinary charges (VIII)

		31/12/2006		31/12/2005
Total extraordinary charges (Total VIII)	HH	1 291 964	3,7%	1 246 097
Extraordinary operating charges	HE	445 598	37,8%	323 260
Extraordinary charges from capital transactions	HF	104 087	-77,2%	456 169
Extraordinary reserves and provisions	HG	742 279	59,1%	466 668

Employee profit sharing (IX)

		31/12/2006		31/12/2005
Employee profit sharing (Total IX)	HJ	0	0%	86 610

Tax on profits (X)

		31/12/2006		31/12/2005
Tax on profits (Total X)	HK	340 185	-44,9%	617 877

References

		31/12/2006		31/12/2005
Of which equipment leases	HP	0	0%	0
Of which property leases	HQ	0	0%	0

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

Structure and Liquidity

	31/12/2006		31/12/2005
Fixed Asset Financing	1,21	7,1%	1,13
Global Debt	101,56 days	10,9%	91,57 days
Working Capital Fund overall net	34,78 days	67,0%	20,83 days
Financial independence	245,67%	-11,3%	277,12%
More ratios
Solvability	45,96%	-6,5%	49,18%

Management or rotation

	31/12/2006		31/12/2005
Need background in operating working capital	44,31 days	4,0%	42,62 days
Treasury	16,30 days	-43,0%	28,62 days
Inventory turnover of goods	178,55 days	7,5%	166,06 days
More ratios
Inventory turnover of raw materials in industrial enterprises	76,95 days	54,5%	49,82 days
Inventory turnover of intermediate and finished products in the industrial enterprise	0 days	0%	0 days

Profitability of the business

	31/12/2006		31/12/2005
Margin trading	104318679,98%	3,0%	101235156,57%
Profitability of the business	4,23	-13,3%	4,88
More ratios
Rates integration	27,32%	-1,7%	27,78%
Rate leasing furniture	0%	0%	0%
Weight interests	0,73	10,6%	0,66%

Return on capital

	31/12/2006		31/12/2005
Rates of economic profitability	11,68%	-14,8%	13,71%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Commerce de détail de la chaussure (4772A)
RCS Registration	RCS 8 341 816 064	Share capital	3,664,603 Euros
Registration Court	(59)	Legal form	Plc with management board
Court Registry Number	19 8 7B007	EUR VAT Number	FR94341816064
Incorporation Date	09/1987	Formation Date	06/1987
Deregistration Date		Last account Date	31/12/2011
Nationality	France

Establishment details

Trade name	CHAUSS EXPO
Activity (APE)	Activités des sièges sociaux (7010Z)	Business Pages FT®
Postal Address	SA DESMAZIERES CHAUSS'EXPO ZI 2 RUE DU PETIT QUINQUIN BP 126 59811 LESQUIN CEDEX	Trading Address	2 RUE DU PETIT QUINQUIN 59810 LESQUIN
Telephone	03 20 87 61 97
Fax	03 20 87 58 41

Type	Secondary establishment	Status	Economically active
Formation Date	06/1987	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Nord (59)	Region	Nord-Pas-de-Calais
District	5	Area	78
City	LESQUIN	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	259 branch entities in this company
Head office	> SA DESMAZIERES <<<  - Commerce de détail de la chaussure (4772A)  in LESQUIN  (59810)
Secondary establishments	>  SA DESMAZIERES  - Commerce de détail de la chaussure (4772A)  in VENELLES  (13770) >  SA DESMAZIERES  - Commerce de détail de la chaussure (4772A)  in LILLERS  (62190) >  SA DESMAZIERES  - Commerce de détail de la chaussure (4772A)  in MONTLUCON  (03100) >  SA DESMAZIERES  - Commerce de détail de la chaussure (4772A)  in CLAMECY  (58500) > ...

Regionality	Legal unit with multiple establishments in many areas but no one grouping more than 50% of workforce
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce

Workforces

Workforce at address

50 to 99 employees

Company workforce

500 to 999 employees

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
03/06/2013	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE METROPOLE 6546 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
03/06/2013	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE METROPOLE 6548 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
03/06/2013	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE METROPOLE 6547 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
21/10/2012	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 405 - 341 816 064 RCS Lille. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Administration : modification du Commissaire aux comptes titulaire Reynaert, Stéphane, nomination du Commissaire aux comptes titulaire : CTN - FRANCE Société d'Expertise Comptable et de Commissariat aux Comptes, modification du Commissaire aux comptes suppléant Kieffer, Francis, nomination du Commissaire aux comptes suppléant : Sion, Henry-Luc. Capital : 3664603 EUR. Activité : . Adresse du siège social : centre de Gros, Zone Industrielle, 59810 Lesquin. Commentaires : modification survenue sur l'administration.
02/02/2012	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 1273 - 341 816 064 RCS Lille. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Administration : Président du directoire : DESMAZIERES Guy-Serge Membre du directoire : DESMAZIERES Laurence Membre du directoire : LEROUX Thierry Membre du directoire : DESMAZIERES Jerry Président du conseil de surveillance : DESMAZIERES Manuela Vice-président du conseil de surveillance : THUIN Jean-Laurent Membre du conseil de surveillance : DESMAZIERES Manuela Membre du conseil de surveillance : DESMEDT Jean Marc Membre du conseil de surveillance : THUIN Jean-Laurent Commissaire aux comptes titulaire : REYNAERT Stéphane Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES Commissaire aux comptes suppléant : KIEFFER Francis Commissaire aux comptes suppléant : AUDITEX. Capital : 3664603 EUR. Activité : Chaussures, bagages, maroquinerie, vêtements de sport. Adresse de l’établissement principal : Zone Industrielle, Centre de Gros, 59810 Lesquin. Adresse du siège social : Zone Industrielle, Centre de Gros, 59810 Lesquin. Commentaires : Apport-Fusion. Date de commencement de l’activité : 16/06/1987. Date d’effet : 05/01/2012.
29/11/2011	Bodacc A	Vente et cession : Acheteur
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 1815 - 341 816 064 RCS Lille. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Administration : Président du directoire : DESMAZIERES Guy-Serge Membre du directoire : DESMAZIERES Laurence Membre du directoire : LEROUX Thierry Membre du directoire : DESMAZIERES Jerry Président du conseil de surveillance : DESMAZIERES Manuela Vice-président du conseil de surveillance : THUIN Jean-Laurent Membre du conseil de surveillance : DESMAZIERES Manuela Membre du conseil de surveillance : DESMEDT Jean Marc Membre du conseil de surveillance : THUIN Jean-Laurent Commissaire aux comptes titulaire : REYNAERT Stéphane Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES Commissaire aux comptes suppléant : KIEFFER Francis Commissaire aux comptes suppléant : AUDITEX. Capital : 3664603 EUR. Adresse : Zone Industrielle, Centre de Gros, 59810 Lesquin. Origine du fonds : montant de l'évaluation : 6.354.479,00 EUR. Etablissement : Siège social et établissement principal. Activité : Chaussures, bagages, maroquinerie, vêtements de sport. Enseigne : CHAUSS'EXPO. Adresse : Zone Industrielle, Centre de Gros, 59810 Lesquin. Précédent propriétaire : TAMALET FORME JURIDIQUE : SAS CAPITAL SOCIAL : 594510.80 EUROS - SIÈGE SOCIAL : BD DU PETIT QUINQUIN CRT CROIX VARESQUEL 59273 FRETIN. 321 863 037 RCS Lille. A dater du : 21/09/1987. Date de commencement de l’activité : 16/06/1987. Oppositions : Art.L-236-14 du code de commerce. Descriptif : Avis relatif au projet commun de fusion/scission Soci¿t¿ Absorb¿e : SAS TAMALET Actif : 19090879.00 Euros Passif : 20545358.00 Euros. Rapport d'¿change des droits sociaux : aucun rapport d'¿change. Montant pr¿vu du mali de fusion : 6354479.00 Euros Date de projet commun de fusion : 18/11/2011 D¿p¿t au RCS de LILLE en date du : 21/11/2011. Commentaires : Autre achat, apport, attribution. Date d’effet : 18/11/2011.
29/11/2011	Bodacc A	Vente et cession : Vendeur
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 1816 - 321 863 037 RCS Lille. TAMALET. Forme : Société par actions simplifiée. Administration : Président de la société : DESMAZIERES Guy-Serge Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES Commissaire aux comptes suppléant : AUDITEX. Capital : 594510.80 EUR. Adresse : boulevard du Petit Quinquin Crt 3, Croix Varesquel, 59273 Fretin. Origine du fonds : montant de l'évaluation : 6.354.479,00 EUR. Etablissement : Siège social et établissement principal. Activité : Le commerce en gros et au détail, la promotion et la diffusion par franchise, publicité ou toute autre méthode, de tous articles chaussants, de maroquinerie, articles de voyages, tous articles textiles, de nouveautés, d'alimentation et de bazar et en général de toute marchandises pouvant être vendues dans les magasins, les grands magasins et grandes surfaces, la réalisation de toutes opérations immobilières : achat et vente de terrains, lotissements, construction d'immeubles, achat et vente d'immeubles en totalité ou en partie, exploitation d'immeubles en location ou autrement, la création, l'achat, l'exploitation de maisons et fonds de commerce, et en général toutes opérations mobilières et immobilières, financières industrielles ou commerciales se rattachant ou pouvant être rattachées directement ou indirectement, en tout ou en partie, à l'un quelconque des objets ci-dessus ou tous objets similaires au commerce ou susceptible d'en faciliter l'application ou le développement, le tout sous quelque forme que ce soit, tant pour elle même que pour le compte de tiers ou en participation, à la commission ou autrement. Adresse : boulevard du Petit Quinquin Crt 3, Croix Varesquel, 59273 Fretin. Précédent propriétaire : SA DESMAZIERES FORME JURIDIQUE : SOCIÉTÉ ANONYME À DIRECTOIRE ET CONSEIL DE SURVEILLANCE CAPITAL SOCIAL : 3664603.00 EUROS SIÈGE SOCIAL : ZONE INDUSTRIELLE CENTRE DE GROS 59810 LESQUIN. 341 816 064 RCS Lille. A dater du : 11/03/1998. Date de commencement de l’activité : 10/03/1998. Oppositions : Art.L-236-14 du code de commerce. Descriptif : Avis relatif au projet commun de fusion/scission Société absorbante : SA DESMAZIERES Actif : 19090879.00 Euros Passif : 20545358.00 Euros. Rapport d'échange des droits sociaux : aucun rapport d'échange. Montant prévu du mali de fusion : 6354479.00 Euros Date du projet commun de fusion : 18/11/2011 Dépôt au RCS de LILLE en date du : 21/11/2011. Commentaires : Autre achat, apport, attribution. Date d’effet : 18/11/2011.
26/10/2010	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 566 - 341 816 064 RCS Lille. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Administration : Président du directoire : DESMAZIERES Guy-Serge Membre du directoire : DESMAZIERES Laurence Membre du directoire : LEROUX Thierry Membre du directoire : DESMAZIERES Jerry Président du conseil de surveillance : DESMAZIERES Manuela Vice-président du conseil de surveillance : THUIN Jean-Laurent Membre du conseil de surveillance : DESMAZIERES Manuela Membre du conseil de surveillance : DESMEDT Jean Marc Membre du conseil de surveillance : THUIN Jean-Laurent Commissaire aux comptes titulaire : REYNAERT Stéphane Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES Commissaire aux comptes suppléant : KIEFFER Francis Commissaire aux comptes suppléant : AUDITEX. Capital : 3664603 EUR. Activité : Chaussures, bagages, maroquinerie, vêtements de sport. Adresse de l’établissement principal : Zone Industrielle, Centre de Gros, 59810 Lesquin. Adresse du siège social : Zone Industrielle, Centre de Gros, 59810 Lesquin. Commentaires : Changement de commissaire aux comptes titulaire Changement de commissaire aux comptes suppléant. Date de commencement de l’activité : 16/06/1987. Date d’effet : 28/06/2010.
16/12/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5259 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
16/12/2009	Bodacc C	Comptes annuels, consolidés et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5262 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
16/12/2009	Bodacc C	Comptes annuels, consolidés et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5260 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
16/12/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5261 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
25/10/2008	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 6327 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZI ERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
18/03/2008	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5127 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2005.
18/03/2008	Bodacc C	Comptes consolidés et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 5128 - 341816064 RCS. SA DESMAZIERES Noms Commerciaux : MAGASINS DESMAZIERES - SERGE DESMAZIERES - DESMAZIERES SERVICES - GROUPE DESMAZIERES - DESMAZIERES IMPORT DIFFUSION. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : Zone Industrielle Centre de Gros 59810 Lesquin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2005.
17/10/2007	Bodacc B	Modifications et mutations diverses
1821 - RCS Lille B 341 816 064. RC 87-B 779. S.A. DESMAZIERES. Forme : S.A. à directoire. Capital : 3 664 603 euros. Adresse du siège social : Z.I., Centre de gros,, 59810 Administration : président du directoire : DESMAZIERES (Guy-Serge). Membres du directoire : DESMAZIERES (Jerry) Mme DESMAZIERES (Laurence) LEROUX (Thierry). Président du conseil de surveillance : Mme DESMAZIERES (Manuela). Vice-président du conseil de surveillance : THUIN (Jean-Laurent). Membres du conseil de surveillance : Mme DESMAZIERES (Manuela) DESMEDT (Jean, Marc) THUIN (Jean-Laurent). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT REYNAERT (Stéphane). Commissaires aux comptes suppléants : Mme DEGRAVE (Fabienne) KIEFFER (Francis). Ancienne administration : ancien commissaire aux comptes suppléant : KRETZSCHMAR (Hugues). Etablissement principal - Activité : vente de chaussures, de bagages, d'articles de maroquinerie et de vêtements de sport. Adresse : Z.I., Centre de gros, 59810 Date d'effet : 22 juin 2007.
11/05/2007	Bodacc B	Modifications et mutations diverses
1020 - RCS Lille B 341 816 064. RC 87-B 779. S.A. DESMAZIERES. Forme : S.A. à directoire. Capital : 3 664 603 euros. Adresse du siège social : Z.I., Centre de gros,, 59810 Administration : président du directoire : DESMAZIERES (Guy-Serge). Membres du directoire : DESMAZIERES (Jerry) Mme DESMAZIERES (Laurence) LEROUX (Thierry). Président du conseil de surveillance : Mme DESMAZIERES (Manuela). Vice-président du conseil de surveillance : THUIN (Jean-Laurent). Membres du conseil de surveillance : Mme DESMAZIERES (Manuela) DESMEDT (Jean, Marc) THUIN (Jean-Laurent). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT REYNAERT (Stéphane). Commissaires aux comptes suppléants : Mme DEGRAVE (Fabienne) KRETZSCHMAR (Hugues). Ancienne administration : ancien membre du conseil de surveillance : TOULEMONDE (Gilles). Etablissement principal - Activité : vente de chaussures, de bagages, d'articles de maroquinerie et de vêtements de sport. Adresse : Z.I., Centre de gros, 59810 Date d'effet : 8 décembre 2006.
15/12/2005	Bodacc C	Avis de dépôt des comptes
3001 - RCS Lille B 341 816 064. RC 87-B 779. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES SERGE DESMAZIERES DESMAZIERES SERVICES GROUPE DESMAZIERES DESMAZIERES IMPORT DIFFUSION. Forme: S.A. à directoire. . Adresse du siège social: Zone Industrielle centre de Gros,59810 Lesquin. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
07/08/2005	Bodacc B	Modifications et mutations diverses
921 - RCS Lille B 341 816 064. RC 87-B 779. S.A. DESMAZIERES. Forme : S.A. à directoire. Capital : 3 664 603 euros. Adresse du siège social : Z.I., Centre de gros,, 59810 Administration : président du directoire : DESMAZIERES (Guy-Serge). Membres du directoire : DESMAZIERES (Jerry) Mme VOSSAN, née DESMAZIERES (Laurence) LEROUX (Thierry). Président du conseil de surveillance : Mme ANGOT, née DESMAZIERES (Manuela). Vice-président du conseil de surveillance : THUIN (Jean-Laurent). Membres du conseil de surveillance : Mme ANGOT, née DESMAZIERES (Manuela) TOULEMONDE (Gilles) THUIN (Jean-Laurent). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT REYNAERT (Stéphane). Commissaires aux comptes suppléants : Mme DEGRAVE (Fabienne) KRETZSCHMAR (Hugues). Ancienne administration : ancien membre du directoire : Mme ANGOT, née DESMAZIERES (Manuela). Ancien président du conseil de surveillance : DESMAZIERES (Serge). Ancien membre du conseil de surveillance : Mme DESMAZIERES, née LEROUX (Nicole). Etablissement principal - Activité : vente de chaussures, de bagages, d'articles de maroquinerie et de vêtements de sport. Adresse : Z.I., Centre de gros, 59810 Date d'effet : 30 mars 2005.
02/04/2005	Bodacc C	Avis de dépôt des comptes
2929 - RCS Lille B 341 816 064. RC 87-B 779. SA DESMAZIERES NOMS COMMERCIAUX : MAGASINS DESMAZIERES SERGE DESMAZIERES DESMAZIERES SERVICES GROUPE DESMAZIERES DESMAZIERES IMPORT DIFFUSION. Forme: S.A. à directoire. . Adresse du siège social: Zone Industrielle centre de Gros,59810 Lesquin. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.

Company events history

Date	Description
03/06/2013	Bodacc C : Deposit accounts notice
30/04/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/10/2012	Bodacc B: Various editing or changing
24/09/2012	New auditor
24/09/2012	Minutes of general meeting of shareholders
20/09/2012	Modification to Establishment Address or Identifier
25/03/2012	Waiting the Court answer to collect preferential rights for this company
03/02/2012	Disengagement of the group
03/02/2012	Disengagement in other companies
02/02/2012	Bodacc B: Various editing or changing
23/01/2012	Amendment
23/01/2012	Updated articles of association
23/01/2012	Minutes of general meeting of shareholders
23/01/2012	Merger
23/01/2012	Declaration of conformity
01/01/2012	Other modification of Establishment
01/01/2012	Formation of Establishment
31/12/2011	New accounts available
29/11/2011	Bodacc A : Sale and transfer
27/05/2011	Formation of Establishment
31/12/2010	New accounts available
26/10/2010	Bodacc B: Various editing or changing
12/10/2010	Minutes of general meeting of shareholders
01/10/2010	Modification to Establishment Address or Identifier
12/03/2010	Formation of Establishment
31/12/2009	New accounts available
16/12/2009	Bodacc C : Deposit accounts notice
21/08/2009	Formation of Establishment
25/03/2009	Collection of preferential rights activated for this company
31/12/2008	New accounts available
25/10/2008	Bodacc C : Deposit accounts notice
17/05/2008	Formation of Establishment
25/04/2008	Formation of Establishment
18/03/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
27/10/2007	Formation of Establishment
30/08/2007	Private document
30/08/2007	Appointment/resignation of company officers
30/08/2007	PV d'Assemblée
30/08/2007	Minutes of general meeting of shareholders
30/08/2007	Changement de Commissaire aux Comptes
30/08/2007	New auditor
30/08/2007	Acte modificatif
12/05/2007	Formation of Establishment
01/03/2007	Private document
01/03/2007	PV d'Assemblée
01/03/2007	Appointment/resignation of company officers
01/03/2007	Nomination/démission des organes de gestion
01/03/2007	Minutes of general meeting of shareholders
31/12/2006	New consolidated accounts available
31/12/2006	New accounts available
31/12/2005	New consolidated accounts available
31/12/2005	New accounts available
20/07/2005	Private document
20/07/2005	Acte sous seing privé
20/07/2005	Acte modificatif
20/07/2005	Appointment/resignation of company officers
20/07/2005	PV d'Assemblée
20/07/2005	Minutes of general meeting of shareholders
20/07/2005	Nomination/démission des organes de gestion
31/12/2004	New accounts available
31/12/2003	New accounts available
31/07/2002	Changement de Commissaire aux Comptes
31/07/2002	Acte sous seing privé
31/07/2002	Nomination/démission des organes de gestion
31/07/2002	PV d'Assemblée
27/06/2002	PV d'Assemblée
27/06/2002	Acte sous seing privé
27/06/2002	Statuts mis à jour
07/03/2002	Augmentation de Capital
07/03/2002	Réduction de Capital
07/03/2002	Conversion du Capital Social en Euros
07/03/2002	Statuts mis à jour
07/03/2002	PV d'Assemblée
07/03/2002	Acte modificatif
07/03/2002	Acte sous seing privé
07/03/2002	Fusion
07/03/2002	Déclaration de conformité
08/01/2002	PV d'Assemblée
08/01/2002	Acte sous seing privé
08/01/2002	Réduction de Capital
08/01/2002	Conversion du Capital Social en Euros
08/01/2002	Augmentation de Capital
18/12/2001	Rapport des Commissaires ou du Gérant
18/12/2001	Acte sous seing privé
27/11/2001	Requête et Ordonnance
13/06/2000	PV d'Assemblée
04/01/1999	Changement de Commissaire aux Comptes
04/01/1999	Nomination/démission des organes de gestion
04/01/1999	PV d'Assemblée
04/01/1999	Acte sous seing privé
16/03/1998	PV d'Assemblée
16/03/1998	Nomination/démission des organes de gestion
16/03/1998	Acte sous seing privé
02/04/1997	Acte sous seing privé
02/04/1997	PV d'Assemblée
02/04/1997	Nomination/démission des organes de gestion
29/01/1997	PV d'Assemblée
29/01/1997	Nomination/démission des organes de gestion
29/01/1997	Modification du système d'administration des S.A.
29/01/1997	Déclaration de conformité
29/01/1997	Expédition acte notarié
29/01/1997	Acte sous seing privé
29/01/1997	Changement de Président (PDG, PCA)
29/01/1997	Changement de dénomination sociale
29/01/1997	Augmentation de Capital
29/01/1997	Fusion
29/01/1997	Acte modificatif
29/01/1997	Changement de Forme Juridique avec changement de catégorie
29/01/1997	Statuts mis à jour
02/10/1996	Acte sous seing privé
02/10/1996	Rapport des Commissaires ou du Gérant
02/10/1996	Acte modificatif
01/10/1996	Changement de Forme Juridique avec changement de catégorie
01/10/1996	Rapport des Commissaires ou du Gérant
01/10/1996	Acte modificatif
06/07/1992	Déclaration de conformité
06/07/1992	Statuts mis à jour
06/07/1992	PV d'Assemblée

Establishment events history

Date	Description
30/04/2013	Update Limit
30/04/2013	Update Rating
11/01/2013	Update of phone numbers
09/01/2013	Update Rating
09/10/2012	Update Rating
20/09/2012	Modification of Head office
06/04/2012	Update Rating
03/02/2012	Update Rating
01/01/2012	Update of Establishment Workforce
01/01/2012	Modification of Head office
01/07/2011	Update Rating
27/05/2011	Modification of Head office
06/05/2011	Update Rating
08/10/2010	Update Limit
01/10/2010	Update of Establishment Workforce
01/10/2010	Modification of Head office
03/09/2010	Update Rating
19/08/2010	Update Rating
27/04/2010	Update Rating
12/03/2010	Modification of Head office
29/12/2009	Update Rating
20/10/2009	Update Rating
20/10/2009	Update Limit
21/08/2009	Modification of Head office
30/07/2009	Update Rating
23/03/2009	Update Rating
10/02/2009	Update Rating
13/01/2009	Update Rating
15/12/2008	Update Rating
01/12/2008	Update Rating
06/10/2008	Update Rating
01/10/2008	Update Limit
02/09/2008	Update Rating
02/07/2008	Update Rating
02/07/2008	Update Limit
19/05/2008	Update Rating
17/05/2008	Modification of Head office
07/05/2008	Update Rating
25/04/2008	Modification of Head office
22/04/2008	Update Rating
17/04/2008	Update Rating
22/02/2008	Update Rating
10/12/2007	Update Limit
09/12/2007	Update Limit
27/10/2007	Modification of Head office
08/10/2007	Update Rating
05/09/2007	Update Rating
12/05/2007	Modification of Head office

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.41
UK Pound	1	Rs.91.62
Euro	1	Rs.78.12

INFORMATION DETAILS

Report Prepared by :

PRL

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.