MIRA INFORM REPORT

Report Date :

16.03.2013

IDENTIFICATION DETAILS

Name :	C.L. INTERNATIONAL
Registered Office :	Le Tertia Ii Zi Les Milles 5 Rue Charles Duchesne 13290 Les Milles
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	June 1999
Com. Reg. No.:	RCS Aix-en-Provence B 423 222 868
Legal Form :	Limited Liability Company
Line of Business :	Wholesale (intercompany trade) unskilled
No. of Employees :	1 or 2 employees

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
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

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

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name	C.L. INTERNATIONAL

Personal comment

Company summary

		EUR VAT Number	FR17423222868
Activity (APE)	Wholesale (intercompany trade) unskilled (4690Z)	Legal form	Limited Liability Company
Phone	04 42 90 59 13	RCS Registration	RCS Aix-en-Provence B 423 222 868
Fax		Share capital	70,000 Euros
Address	C.L. INTERNATIONAL LE TERTIA II ZI LES MILLES 5 RUE CHARLES DUCHESNE 13290 LES MILLES	Incorporated Date	06/1999
Nationality	France	Status	Economically active

Company details

Activity (APE)	Commerce de gros (commerce interentreprises) non spécialisé (4690Z)
RCS Registration	RCS Aix-en-Provence B 423 222 868	Share capital	70,000 Euros
Registration Court	Aix-en-Provence (13)	Legal form	Limited Liability Company
Court Registry Number	04 B 00240	EUR VAT Number	FR17423222868
Incorporation Date	06/1999	Formation Date	05/1999
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Commerce de gros (commerce interentreprises) non spécialisé (4690Z)	Business Pages FT®	IMPORT EXPORT SOCIETE COMMERCE INTERNATIONAL
Postal Address	C.L. INTERNATIONAL LE TERTIA II ZI LES MILLES 5 RUE CHARLES DUCHESNE 13290 LES MILLES	Trading Address	5 RUE CHARLES DUCHESNE 13290 AIX EN PROVENCE
Telephone	04 42 90 59 13
Fax

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	MME. LIM ELSA
Manager position	Gérant	Date of birth	14/03/1969
Place of birth	ESHILSTUNA SUEDE
Type	Individual	Name at birth	LARSON

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

Judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

Recent publications in Gazettes

Publication date	Gazette Name	Description
26/09/2011	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE D'AIX-EN-PROVENCE 632 - 423222868 RCS. C.L. INTERNATIONAL. Forme : Société à responsabilité limitée. Adresse : le Tertia II Zone Industrielle les Milles - 5, rue Charles Duchesne 13290 Aix-en-Provence. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
12/10/2010	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE D'AIX-EN-PROVENCE 1079 - 423222868 RCS. C.L. INTERNATIONAL. Forme : Société à responsabilité limitée. Adresse : le Tertia II Zone Industrielle les Milles - 5, rue Charles Duchesne 13290 Aix-en-Provence. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
02/10/2009	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE D'AIX-EN-PROVENCE 1215 - 423222868 RCS. C.L. INTERNATIONAL. Forme : Société à responsabilité limitée. Adresse : le Tertia II Zone Industrielle les Milles - 5, rue Charles Duchesne 13290 Aix-en-Provence. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
26/10/2008	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE D'AIX-EN-PROVENCE 1017 - 423222868 RCS. C.L. INTERNATIONAL. Forme : Société à responsabilité limitée. Adresse : le Tertia II Zone Industrielle les Milles - 5, rue Charles Duchesne, 13290 Aix-en-Provence. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
01/12/2007	Bodacc C	Avis de dépôt des comptes
2012 - 423 222 868. RCS Aix-en-Provence C.L. INTERNATIONAL. Forme: Société à responsabilité limitée. Adresse du siège social: le Tertia II Zone Industrielle les Milles - 5, rue Charles Duchesne, 13290 Aix-en-Provence. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
20/12/2006	Bodacc B	Modifications et mutations diverses
0135 - RCS Aix-en-Provence B 423 222 868. RC 04-B 240. C.L. INTERNATIONAL. Forme : S.A.R.L. Capital : 70 000 euros. Nom commercial : C.L. International. Adresse du siège social : Z.I. Les Milles, Le Tertia II, 5 rue Charles-Duchesne,, 13290 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 1er novembre 2006.
05/12/2006	Bodacc C	Avis de dépôt des comptes
1056 - RCS Aix-en-Provence B 423 222 868. RC 04-B 240. C.L. INTERNATIONAL. Forme: S.A.R.L.. Adresse du siège social: 5, rue Charles Duchesne, le Tertia II, Z.I. les MillesLes Milles, 13290 Aix-en-Provence. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
09/11/2005	Bodacc C	Avis de dépôt des comptes
979 - RCS Aix-en-Provence B 423 222 868. RC 04-B 240. C.L. INTERNATIONAL. Forme: S.A.R.L.. Adresse du siège social: le Tertia II, Z.I. les Milles, 5, rue Charles Duchesne,13090 Aix-en-Provence. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
04/03/2004	Bodacc B	Modifications et mutations diverses
RCS Aix-en-Provence B 423222868 RC 04-B 240 C.L. INTERNATIONAL. Forme : S.A.R.L. Capital : 30 500 euros Nom commercial: C. L. International. Adresse du siège social : Le Tertia II, Z.I. Les Milles, 5 rue Charles-Duchesne, 13290 Aix-en- Provence. Administration : gérant : LARSON (Elsa, Carina) ( Nom d'usage : LIM) Etablissement principal: Activité : négoce international, sans réglementation. Adresse : Le Tertia II, Z. I. Les Milles, 5 rue Charles-Duchesne, 13290 Aix-en-Provence. Commentaires : immatriculation d'une personne morale suite au transfert de l'établissement principal hors ressort du greffe du tribunal de commerce de Salon-de- Provence. Date d'effet : 1 e r janvier 2004.
26/04/2002	Bodacc B	Modifications et mutations diverses
RCS Salon-de-Provence B 423222868 RC 99- B 320 C.L. INTERNATIONAL. Forme : S.A.R.L. Capital : 30 500 euros Nom commercial: C. L. International. Adresse du siège social : La Clairière de l'Anjoly, batiment E, n° 1, 96 boulevard de l' Europe, 13127 Vitrolles. Commentaires : modification survenue sur le capital ( augmentation), l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : La Clairière de l'Anjoly, batiment E, n° 1, 96 boulevard de l' Europe, 13127 Vitrolles. Date d'effet : 20 septembre 2001.
29/03/2000	Bodacc B	Modifications et mutations diverses
RCS Salon-de-Provence B 423222868 RC 99- B 320 C.L. INTERNATIONAL. Forme : S.A.R.L Nom commercial: C.L. International. Adresse du siège social : Z.A.C. de l' Anjoly, Le Cristal, 130 avenue de l' Europe, 13127 Vitrolles. Commentaires : modification survenue sur l' administration. Administration : gérant : LARSSON (Elsa, Carina) ( Nom d'usage : LIU). Date d'effet : 7 février 2000.
21/07/1999	Bodacc A	Création d'établissement
RCS Salon-de-Provence B 423222868 RC 99- B 320 C.L. INTERNATIONAL. Forme : S.A.R.L. Capital : 50 000 F Nom commercial: C.L. International. Adresse du siège social : Z.A.C. de l'Anjoly, Le Cristal, 130 avenue de l'Europe, 13127 Vitrolles. Administration : gérant : LIM (Yee, Koh) ( Nom d'usage : LIM) Cette société se constitue Etablissement principal: Activité : négoce international, sans réglementation. Adresse : Z.A.C. de l' Anjoly, Le Cristal, 130 avenue de l' Europe, 13127 Vitrolles Date de début d' activité: 1 e r mai 1999.

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

This company is not identified as one of the biggest french chip.

Linkages

This company is not identified as one of the biggest french chip.

FINANCIAL INFORMATION

Trading to Date	12/31/2010	12/31/2009	12/31/2008
	Turnover	3,342,690 €	3,336,633 €	2,497,107 €
	Gross Operating Surplus	1,49 % Turnover	3,75 % Turnover	5,30 % Turnover
	Shareholders’ equity	164,110 €	165,952 €	127,332 €
	Net result	56,178 €	44,619 €	37,962 €
	Employees	1 or 2 employees	-	-

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	14 760	-1,1%	14 931	-10,0%	16 588	6 127	140,9%
- Intangible assets	0	0%	0	0%	2 348	0	0%
- Tangible assets	13 693	-1,2%	13 864	5,2%	13 173	1 915	615,0%
- Financial assets	1 067	0%	1 067	0%	1 067	60	1678,3%
Net current assets	671 781	-60,0%	1 677 454	59,1%	1 054 360	103 319	550,2%
- Stocks	41 264	175,9%	14 958	253,3%	4 234	8 078	410,8%
- Advanced payments	0	-60,0%	0	0%	0	0	0%
- Receivables	544 401	-52,5%	1 146 662	14,7%	999 280	36 533	1390,2%
- Securities and cash	86 116	-83,3%	515 834	914,5%	50 846	16 347	426,8%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	686 541	-59,4%	1 692 385	58,0%	1 070 948	127 608	438,0%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	164 110	-1,1%	165 952	30,3%	127 332	29 462	457,0%
Share capital	70 000	0%	70 000	0%	70 000	8 000	775,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	522 431	-65,8%	1 526 433	61,8%	943 615	84 853	515,7%
- Financial liabilities	147 900	-73,5%	558 479	71,0%	326 553	7 516	1867,8%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	250 193	-69,4%	817 239	92,9%	423 739	22 286	1022,6%
- Tax and social liabilities	124 338	-17,5%	150 715	0,1%	150 623	17 833	597,2%
- Other debts and fixed assets liabilities	0	0%	0	0%	42 700	3 741	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	686 541	-59,4%	1 692 385	58,0%	1 070 948	127 277	439,4%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	3 348 778	0,4%	3 336 825	33,5%	2 498 974	201 099	1565,2%
Net turnover	3 342 690	0,2%	3 336 633	33,6%	2 497 107	196 620	1600,1%
- of which net export turnover	385 300	381,6%	80 000	5084,4%	-1 605	0	0%
Operating charges	3 295 262	2,0%	3 229 815	36,2%	2 370 579	191 035	1625,0%
Operating profit/loss	53 516	-50,0%	107 010	-16,7%	128 395	5 370	896,6%
Financial income	154 096	91,2%	80 595	18,9%	67 808	0	0%
Financial charges	134 401	2,8%	130 684	-12,7%	149 676	292	45927,7%
Financial profit/loss	19 695	139,3%	-50 089	38,8%	-81 868	-52	37975,0%
Pretax net operating income	73 211	28,6%	56 921	22,3%	46 527	4 745	1442,9%
Extraordinary income	778	0%	0	0%	0	0	0%
Extraordinary charges	135	200%	45	0%	45	40	237,5%
Extraordinary profit/loss	643	1528,9%	-45	0%	-45	0	0%
Net result	56 178	25,9%	44 619	17,5%	37 962	4 797	1071,1%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	686 541	-59,4%	1 692 385	58,0%	1 070 948
	Gross	CO	718 909	-58,3%	1 722 500	57,1%	1 096 194
	Amortisation	1A	32 368	7,5%	30 115	19,3%	25 246

Non declared distributed capital (I)

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

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	14 760	-1,1%	14 931	-10,0%	16 588
	Gross	BJ	47 128	4,6%	45 046	7,7%	41 834
	Amortisation	BK	32 368	7,5%	30 115	19,3%	25 246

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	2 348
	Gross	AJ	9 457	0%	9 457	0%	9 457
	Amortisation	AK	9 457	0%	9 457	33,0%	7 109
	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	0	0%	0	0%	2 348

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	7 428	-8,2%	8 095	-7,6%	8 762
	Gross	AP	10 000	0%	10 000	0%	10 000
	Amortisation	AQ	2 572	35,0%	1 905	53,9%	1 238
	Plant	Net	0	0%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	6 265	8,6%	5 769	30,8%	4 411
	Gross	AT	26 604	8,5%	24 522	15,1%	21 310
	Amortisation	AU	20 339	8,5%	18 753	11,0%	16 899
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	13 693		13 864		13 173

Financial assets

			31/12/2010		31/12/2009		31/12/2008
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	1 067	0%	1 067	0%	1 067
	Gross	BH	1 067	0%	1 067	0%	1 067
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		1 067		1 067		1 067

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	671 781	-60,0%	1 677 454	59,1%	1 054 360
	Gross	CJ	671 781	-60,0%	1 677 454	59,1%	1 054 360
	Amortisation	CK	0	0%	0	0%	0

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	41 264	175,9%	14 958	253,3%	4 234
	Gross	BT	41 264	175,9%	14 958	253,3%	4 234
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	41 264	175,9%	14 958	253,3%	4 234

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	508 812	-51,2%	1 043 050	13,7%	917 644
	Gross	BX	508 812	-51,2%	1 043 050	13,7%	917 644
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	35 589	-65,7%	103 612	26,9%	81 636
	Gross	BZ	35 589	-65,7%	103 612	26,9%	81 636
	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	544 401	-52,5%	1 146 662	14,7%	999 280

Divers

			31/12/2010		31/12/2009		31/12/2008
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	86 116	-83,3%	515 834	914,5%	50 846
	Gross	CF	86 116	-83,3%	515 834	914,5%	50 846
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	86 116	-83,3%	515 834	914,5%	50 846

Prepaid expenses

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

Equalization accounts (IV to VI)

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

References

		31/12/2010		31/12/2009		31/12/2008
Due within one year	CP	0	0%	1 067	0%	1 067
Due after one year	CR	1 067	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	686 541	-59,4%	1 692 385	58,0%	1 070 948

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	164 110	-1,1%	165 952	30,3%	127 332
	Equity and shareholders' equity	DA	70 000	0%	70 000	0%	70 000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	7 000	0%	7 000	0%	7 000
	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	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	30 932	-30,2%	44 333	258,4%	12 369
	Profit or loss for the period	DI	56 178	25,9%	44 619	17,5%	37 963
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

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

Provisions for risks and charges (III)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	0	0%	0	0%	0
	Risk provisions	DP	0	0%	0	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	522 431	-65,8%	1 526 433	61,8%	943 615
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	147 900	-73,5%	558 479	71,0%	326 553
	Sundry loans and financial liabilities	DV	0	0%	0	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	250 193	-69,4%	817 239	92,9%	423 739
	Tax and social security liabilities	DY	124 338	-17,5%	150 715	0,1%	150 623
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	0	0%	0	0%	42 700

Translation loss (V)

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

Equalization accounts

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

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	522 058	-65,7%	1 523 878	62,3%	938 982
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	53 516	-50,0%	107 010	-16,7%	128 395

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	19 695	139,3%	-50 089	38,8%	-81 868

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	73 211	28,6%	56 921	22,3%	46 527

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	643	1528,9%	-45	0%	-45

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	56 178	25,9%	44 619	17,5%	37 962

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	3 503 652	2,5%	3 417 420	33,1%	2 566 782

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	3 447 476	2,2%	3 372 800	33,4%	2 528 820

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	3 348 778	0,4%	3 336 825	33,5%	2 498 974

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	Sale of goods for resale	FC	3 342 690	0,2%	3 336 633	33,6%	2 497 107
	France	FA	2 957 390	-9,2%	3 256 633	30,3%	2 498 712
	Export	FB	385 300	381,6%	80 000	5084,4%	-1 605
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	0	0%	0	0%	0
	France	FG	0	0%	0	0%	0
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	3 342 690	0,2%	3 336 633	33,6%	2 497 107
	France	FJ	2 957 390	-9,2%	3 256 633	30,3%	2 498 712
	Export	FK	385 300	381,6%	80 000	5084,4%	-1 605
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	6 088	3070,8%	192	-89,7%	1 867
	Other income	FQ	0	0%	0	0%	0

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	3 295 262	2,0%	3 229 815	36,2%	2 370 579

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	2 589 539	-1,1%	2 618 971	46,5%	1 787 160
Change in stocks of goods for resale	FT	-26 305	-145,3%	-10 725	-207,4%	9 986
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	521 343	25,2%	416 485	2,5%	406 369
Tax, duty and similar payments	FX	13 197	-18,1%	16 115	24,0%	12 998
Payroll	FY	124 225	10,7%	112 230	15,7%	96 971
Social security costs	FZ	71 010	21,3%	58 556	14,0%	51 357

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	2 253	-53,7%	4 869	-15,1%	5 738
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	0	0%	13 314	0%	0

Operating charges (III-IV)

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

Financial income (V)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	154 096	91,2%	80 595	18,9%	67 808
	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	120	150,0%	48	9,1%	44
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	153 976	91,2%	80 547	18,9%	67 764
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	134 401	2,8%	130 684	-12,7%	149 676
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	23 456	-20,8%	29 631	-20,5%	37 274
	Exchange losses	GS	110 945	9,8%	101 053	-10,1%	112 402
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	778	0%	0	0%	0
	Extraordinary operating income	HA	778	0%	0	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	135	200%	45	0%	45
	Extraordinary operating charges	HE	135	200%	45	0%	45
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

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

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	17 678	44,2%	12 256	43,8%	8 520

References

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

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	41 834
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	47 129	4,6%	45 046	7,7%	41 834

Research and development Charge (Total I)

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

Other budget item from Intangible fixed assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	KD	9 457	0%	9 457	0%	9 457
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	9 457	0%	9 457	0%	9 457

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	34 522	10,3%	31 310	0%	31 310
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	2 083	-35,1%	3 212	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	36 605	6,0%	34 522	10,3%	31 310

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	1 067	0%	1 067	0%	1 067
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	1 067	0%	1 067	0%	1 067

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

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	19 509
Increases		0P	0	0%	0	0%	5 738
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	25 247

Research and development charge (Total I)

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

Other intangible assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	9 457	33,0%	7 109	60,8%	4 422
Increases		PF	0	0%	2 348	-12,6%	2 687
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	9 457	0%	9 457	33,0%	7 109

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	20 659	13,9%	18 138	20,2%	15 087
Increases		QV	2 253	-10,6%	2 521	-17,4%	3 051
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	22 912	10,9%	20 659	13,9%	18 138

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

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

Premium refund of obligations

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

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

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

Includes Total allocations

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

Includes Total Withdrawal

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

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

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

Total Provision for depreciation (Total III)

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

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	545 469	-52,5%	1 147 729	14,7%	1 000 347
1 year at most	VU	545 469	-52,5%	1 147 729	14,7%	1 000 347
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2010		31/12/2009		31/12/2008
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	1 067	0%	1 067	0%	1 067
Other financial assets (1 year at most)	UV	1 067	0%	1 067	0%	1 067

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	508 812	-51,2%	1 043 050	13,7%	917 644
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	3 448	-29,3%	4 874
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	1 579	-98,0%	79 821	56,8%	50 895
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	34 011	67,2%	20 343	-21,4%	25 867

Prepaid

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

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	522 432	-65,8%	1 526 433	61,8%	943 615
1 year at most		VZ2	522 058	-65,7%	1 523 878	62,3%	938 981
More than 1 year and 5 years at most		VZ3	374	-85,4%	2 555	-44,9%	4 633
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	145 345	-73,8%	553 846	73,8%	318 664
1 year at most		VG2	145 345	-73,8%	553 846	73,8%	318 664
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	2 555	-44,9%	4 633	-41,3%	7 889
1 year at most		VH2	2 181	5,0%	2 078	-36,2%	3 255
More than 1 year and 5 years at most		VH3	374	-85,4%	2 555	-44,9%	4 633
	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	250 193	-69,4%	817 239	92,9%	423 739
1 year at most		8B2	250 193	-69,4%	817 239	92,9%	423 739
More than 1 year and 5 years at most		8B3	250 193	-69,4%	817 239	0%	0
	Personnel and associated accounts (gross)	8C1	21 806	247,8%	6 270	5,1%	5 965
1 year at most		8C2	21 806	247,8%	6 270	5,1%	5 965
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	21 966	39,3%	15 768	43,8%	10 967
1 year at most		8D2	21 966	39,3%	15 768	43,8%	10 967
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	8 353	123,8%	3 732	-50,8%	7 593
1 year at most		8E2	8 353	123,8%	3 732	-50,8%	7 593
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	66 866	-43,7%	118 735	-2,1%	121 237
1 year at most		VW2	66 866	-43,7%	118 735	-2,1%	121 237
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	5 347	-13,9%	6 210	27,8%	4 861
1 year at most		VQ2	5 347	-13,9%	6 210	27,8%	4 861
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	0	0%	42 700
1 year at most		8K2	0	0%	0	0%	42 700
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	2 078	0%	0	0%	3 342

Table allocation results and other information
Dividends distributed

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

Commitments

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

Other charges Externes

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

Taxes and Fees

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

VAT

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

Average number of employees

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

Groups and Shareholders

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

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		7,31	-56,4%	16,75	46,3%	11,45	2,96	147,0%
Global Debt		56 days	-66,1%	165 days	21,3%	136 days	131 days	-57,3%
Working Capital Fund overall net		32 days	-58,4%	77 days	22,2%	63 days	56 days	-42,9%
Financial independence		110,96%	273,5%	29,71%	-23,8%	38,99%	236,85%	-53,2%
More ratios
Solvability		23,90%	143,6%	9,81%	-17,5%	11,89%	26,64%	-10,3%
Capacity debt futures		111,24%	272,7%	29,85%	-24,5%	39,55%	684,95%	-83,8%
Coverage of current assets by net working capital overall		44,25%	4,6%	42,30%	2,0%	41,48%	37,04%	19,5%
General Liquidity		1,04	38,7%	0,75	-29,9%	1,07	0,59	76,3%
Restricted Liquidity		1,21	11,0%	1,09	-2,7%	1,12	1,03	17,5%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		23 days	9,5%	21 days	-62,5%	56 days	13 days	76,9%
Treasury		9 days	-83,9%	56 days	700%	7 days	5 days	80,0%
Inventory turnover of goods		6 days	200%	2 days	100%	1 days	46 days	-87,0%
Average length of credit granted to customers		55 days	-51,3%	113 days	-14,4%	132 days	47 days	17,0%
Average length of credit obtained suppliers		29 days	-70,1%	97 days	40,6%	69 days	53 days	-45,3%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1681 days	-
Rotation tangible assets		9131,79%	-5,5%	9665,24%	21,2%	7975,43%	2071,73%	340,8%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		23,32%	6,8%	21,83%	-22,1%	28,03	23,42%	-0,4%
Profitability of the business		1,49	-60,3%	3,75	-29,2%	5,30	3,67%	-59,4%
Net profit		1,68%	25,4%	1,34%	-11,8%	1,52%	2,08%	-19,2%
More ratios
Growth rate of turnover (excluding VAT)		0,18%	-99,5%	33,62%	73,9%	19,33%	3,44%	-94,8%
Rates integration		7,72%	-17,4%	9,35%	-20,5%	11,76%	17,53%	-56,0%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		75,64%	38,1%	54,76%	8,4%	50,52%	51,65%	46,4%
Weight interests		4,02	2,6%	3,92%	-34,6%	5,99%	0,14%	2771,4%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		1,75%	18,2%	1,48%	-15,4%	1,75%	3,22%	-45,7%
Rates of economic profitability		16%	-5,9%	17%	-41,4%	29%	18%	-11,1%
Financial profitability		164110%	-1,1%	165952%	30,3%	127332%	5339,50%	2973,5%
Return on investment		61,08%	152,4%	24,20%	-41,5%	41,34%	13,78%	343,3%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	3 342 690	0,2%	3 336 633	33,6%	2 497 107	196 620 €	1600,1%

Sales of goods	3 342 690	0,2%	3 336 633	33,6%	2 497 107
- Purchase of goods	2 589 539	-1,1%	2 618 971	46,5%	1 787 160
+/- Stock of goods variation	-26 305	-145,3%	-10 725	-207,4%	9 986
Trading margin	779 456 €	7,0%	728 387 €	4,1%	699 961 €	35 634 €	2087,4%
	23,32 % CA	6,8%	21,83 % CA	-22,1%	28,03 % CA	25,96 % CA	-10,2%

Sale of goods produced	0	0%	0	0%	0
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	0 €	0%	0 €	0%	0 €	7 663 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	6,16 % CA	0%

Trading margin	779 456	7,0%	728 387	4,1%	699 961	35 634	2087,4%
+ Period Production	0	0%	0	0%	0	7 663	0%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	521 343	25,2%	416 485	2,5%	406 369
Added value	258 113 €	-17,2%	311 902 €	6,2%	293 592 €	40 491 €	537,5%
	7,72 % CA	-17,4%	9,35 % CA	-20,5%	11,76 % CA	17,53 % CA	-56,0%

Added value	258 113 €	-17,2%	311 902 €	6,2%	293 592 €	40 491 €	537,5%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	13 197	-18,1%	16 115	24,0%	12 998
- Personal charges	195 235	14,3%	170 786	15,1%	148 328
Gross operating surplus	49 681 €	-60,3%	125 001 €	-5,5%	132 266 €	7 514 €	561,2%
	1,49 % CA	-60,3%	3,75 % CA	-29,2%	5,30 % CA	3,67 % CA	-59,4%

Gross operating surplus	49 681 €	-60,3%	125 001 €	-5,5%	132 266 €	7 514 €	561,2%
+ Release of reserves and provisions	6 088	3070,8%	192	-89,7%	1 867
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	2 253	-53,7%	4 869	-15,1%	5 738
- Other charges	0	0%	13 314	0%	0
Operating result	53 516 €	-50,0%	107 010 €	-16,7%	128 395 €	5 378 €	895,1%
	1,60 % CA	-50,2%	3,21 % CA	-37,5%	5,14 % CA	2,64 % CA	-39,4%

Operating result	53 516 €	-50,0%	107 010 €	-16,7%	128 395 €	5 378 €	895,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	154 096	91,2%	80 595	18,9%	67 808
- Financial charges	134 401	2,8%	130 684	-12,7%	149 676
Pre-tax result	73 211 €	28,6%	56 921 €	22,3%	46 527 €	4 745 €	1442,9%
	2,19 % CA	28,1%	1,71 % CA	-8,1%	1,86 % CA	2,33 % CA	-6,0%

Extraordinary income	778	0%	0	0%	0	0	0%
- Extraordinary charges	135	200%	45	0%	45
Extraordinary result	643 €	1528,9%	-45 €	0%	-45 €	0 €	0%
	0,02 % CA	0%	0,00 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	73 211 €	28,6%	56 921 €	22,3%	46 527 €	4 745 €	1442,9%
Extraordinary result	643 €	1528,9%	-45 €	0%	-45 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	17 678	44,2%	12 256	43,8%	8 520
Net result	56 176 €	25,9%	44 620 €	17,5%	37 962 €	4 788 €	1073,3%
	1,68 % CA	25,4%	1,34 % CA	-11,8%	1,52 % CA	2,08 % CA	-19,2%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Trends
	Profitability
	Liquidity
	Net worth

Company details

Type	Head office (one site company)	Status	Economically active
	Formation Date	01/2004	Reason for formation	Other
	Closure Date		Reason for closure
	Reactivation Date		Production Role
	Activity Nature	-	Activity Location	Other
	Location surface		Seasonality

Department	Bouches-du-Rhône (13)	Region	Côte d'Azur
District	1	Area	97
City	AIX EN PROVENCE	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> C.L. INTERNATIONAL <<<  - Commerce de gros (commerce interentreprises) non spécialisé (4690Z)  in AIX EN PROVENCE  (13290)
Secondary establishments	>  C.L. INTERNATIONAL  - Commerce de gros non spécialisé (519B)  in VITROLLES  (13127)

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

1 or 2 employees

Company workforce

1 or 2 employees

Status history

Date	Description
No Status History

Company events history

Date	Description
26/09/2011	Bodacc C : Deposit accounts notice
16/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
12/10/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
02/10/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
26/10/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
28/11/2006	Minutes of general meeting of shareholders
28/11/2006	Updated articles of association
28/11/2006	Capital increase
28/11/2006	Private document
31/12/2005	New accounts available
31/12/2004	New accounts available
12/02/2004	Statuts mis à jour
12/02/2004	PV d'Assemblée
12/02/2004	Acte sous seing privé
12/02/2004	Immatriculation suite à transfert
31/12/2003	New accounts available
21/03/2002	Acte sous seing privé
21/03/2002	PV d'Assemblée
21/03/2002	Statuts mis à jour
21/03/2002	Augmentation de Capital
21/03/2002	Conversion du Capital Social en Euros
21/03/2002	Transfert du Siège dans le ressort du Tribunal de Commerce
02/03/2000	PV d'Assemblée
02/03/2000	Changement de Gérant
02/03/2000	Nomination/démission des organes de gestion
02/03/2000	Acte sous seing privé
02/03/2000	Statuts mis à jour
28/06/1999	Formation de Société
28/06/1999	PV d'Assemblée
28/06/1999	Acte sous seing privé
28/06/1999	Statuts

Establishment events history

Date	Description
31/01/2013	Update Rating
19/09/2012	Update Limit
19/09/2012	Update Rating
16/09/2011	Update Rating
28/06/2011	Update of phone numbers
16/09/2010	Update Limit
01/05/2010	Update Rating
29/12/2009	Update Rating
28/09/2009	Update Rating
28/09/2009	Update Limit
13/09/2009	Update Limit
12/09/2009	Update Rating
19/08/2009	Update of phone numbers
29/05/2009	Update of phone numbers
29/10/2008	Update Rating
29/10/2008	Update Limit
28/09/2008	Update Limit
27/09/2008	Update Rating
02/03/2008	Update Rating
22/02/2008	Update of phone numbers
16/12/2007	Update Limit
10/12/2007	Update Limit
13/11/2007	Update of phone numbers
29/10/2007	Update Limit
29/10/2007	Update Rating

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.16
UK Pound	1	Rs.81.74
Euro	1	Rs.70.50

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.