MIRA INFORM REPORT

Report Date :

20.03.2013

IDENTIFICATION DETAILS

Name :	EMINENCE
Registered Office :	Eminence, 1 Rte De Gallargues - Zac St Roman, Rte Gallargues, Bp 30, 30470 Aimargues
Country :	France
Financials (as on) :	31.12.2009
Date of Incorporation :	March 1989
Legal Form :	Simplified joint stock company
Line of Business :	Fabrication de vêtements de dessous (1414Z)
No. of Employees :	500

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	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

company summary

Top of Form

Safe Number	FR02209036	EUR VAT Number	FR03350169124
Activity (APE)	Fabrication de vêtements de dessous (1414Z)	Legal form	Simplified joint stock company
Phone	04 66 73 65 65	RCS Registration	RCS Nimes 8 350 169 124
Fax	04 66 73 65 00	Share capital	22,233,712 Euros
Address	EMINENCE 1 RTE DE GALLARGUES - ZAC ST ROMAN RTE GALLARGUES BP 30 30470 AIMARGUES	Incorporated Date	03/1989
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	9
Total number of Invoices paid within or up to 30 days after the due date	7
Total number of Invoices paid more than 30 days after the due date	2
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

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Safe Number	Company number	Click here to view the affiliation links
FINATHEM	-	-	1 company in 1 country. Click here to visit linked companies

Current Directors

1

Trading to Date	12/31/2009	12/31/2008	12/31/2007
Turnover	81,851,136 €	85,598,981 €	88,393,110 €
Gross Operating Surplus	19,70 % Turnover	17,84 % Turnover	22,37 % Turnover
Shareholders’ equity	40,087,999 €	24,494,764 €	28,674,891 €
Net result	7,093,248 €	1,319,873 €	7,141,158 €
Employees	500 to 999 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Fabrication de vêtements de dessous (1414Z)
RCS Registration	RCS Nimes 8 350 169 124	Share capital	22,233,712 Euros
Registration Court	Nimes (30)	Legal form	Simplified joint stock company
Court Registry Number	19 8 9B002	EUR VAT Number	FR03350169124
Incorporation Date	03/1989	Formation Date	03/1989
Deregistration Date		Last account Date	31/12/2009
Nationality	France

Establishment details

Activity (APE)	Fabrication de vêtements de dessous (1414Z)	Business Pages FT®
Postal Address	EMINENCE 1 RTE DE GALLARGUES - ZAC ST ROMAN RTE GALLARGUES BP 30 30470 AIMARGUES	Trading Address	ROUTE GALLARGUES 30470 AIMARGUES
Telephone	04 66 73 65 65
Fax	04 66 73 65 00

Type	Head office	Status	Economically active
Formation Date	08/1991	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Gard (30)	Region	Languedoc-Roussillon
District	2	Area	46
City	AIMARGUES	Size of urban area

Other establishments

Branches	2 branch entities in this company
Head office	> EMINENCE <<<  - Fabrication de vêtements de dessous (1414Z)  in AIMARGUES  (30470)
Secondary establishments	>  EMINENCE  - Fabrication de vêtements de dessous (1414Z)  in ROUBAIX  (59100) >  EMINENCE  - Fabrication de vêtements de dessous (1414Z)  in TROYES  (10000) >  EMINENCE  - Fabrication de vêtements de dessous (1414Z)  in PARIS 6  (75006) >  EMINENCE SA  - Fabrication de vêtements de dessous (1414Z)  in PARIS 16  (75016) > ...

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
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

250 to 499 employees

Company workforce

500 to 999 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2009	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	10/08/2010	04/01/2010	-
Activity Code	1414Z	1414Z	1414Z
Employees	0	0	626

Active account

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	38 211 312	-3,6%	39 645 516	-2,3%	40 595 436	59 919	63671,6%
- Intangible assets	23 337 070	-0,5%	23 447 331	-1,6%	23 820 911	11 350	205513,0%
- Tangible assets	6 879 959	-6,6%	7 369 954	-4,9%	7 752 405	18 801	36493,6%
- Financial assets	7 994 283	-9,4%	8 828 231	-2,1%	9 022 120	4 763	167741,3%
Net current assets	44 975 818	-12,5%	51 375 504	-3,6%	53 310 756	603 881	7347,8%
- Stocks	14 103 033	-14,6%	16 521 769	-9,1%	18 172 249	90 283	15520,9%
- Advanced payments	0	-12,5%	0	0%	0	0	0%
- Receivables	21 127 506	-31,1%	30 671 037	-8,8%	33 625 335	210 914	9917,1%
- Securities and cash	9 745 279	133,0%	4 182 698	176,4%	1 513 172	87 624	11021,7%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	789	-32,4%	1 168	1617,6%	68	0	0%
Total Assets	83 187 919	-8,6%	91 022 188	-3,1%	93 906 260	756 615	10894,7%

Passive Account

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Shareholders' equity	40 087 999	63,7%	24 494 764	-14,6%	28 674 891	245 852	16205,7%
Share capital	22 233 712	61,9%	13 733 724	0%	13 733 724	60 000	36956,2%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1 788 740	-46,2%	3 327 266	-24,3%	4 393 101	0	0%
Liabilities	41 275 496	-34,7%	63 184 761	3,9%	60 793 970	383 076	10674,8%
- Financial liabilities	27 051 133	-44,3%	48 538 608	16,1%	41 791 734	20 109	134422,5%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	6 066 294	-4,6%	6 360 727	-21,6%	8 117 235	60 078	9997,4%
- Tax and social liabilities	7 209 869	5,9%	6 805 351	-21,5%	8 667 078	126 405	5603,8%
- Other debts and fixed assets liabilities	983 884	-34,2%	1 495 472	-33,9%	2 262 221	7 025	13905,5%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	83 187 919	-8,6%	91 022 188	-3,1%	93 906 260	756 615	10894,7%

Results

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Sales of Goods	80 931 923	-5,8%	85 894 118	-6,1%	91 453 362	1 464 065	5427,9%
Net turnover	81 851 136	-4,4%	85 598 981	-3,2%	88 393 110	1 424 655	5645,3%
- of which net export turnover	3 813 230	-10,8%	4 274 127	0,4%	4 258 886	0	0%
Operating charges	66 511 047	-6,5%	71 166 153	-2,2%	72 773 724	1 398 898	4654,5%
Operating profit/loss	14 420 876	-2,1%	14 727 965	-21,2%	18 679 638	8 082	178332,0%
Financial income	290 841	-30,1%	416 318	-15,0%	489 543	3 798	7557,7%
Financial charges	1 829 360	-47,4%	3 475 599	12,8%	3 081 129	2 430	75182,3%
Financial profit/loss	-1 538 519	49,7%	-3 059 281	-18,0%	-2 591 586	-30	-5128296,7%
Pretax net operating income	12 882 357	10,4%	11 668 684	-27,5%	16 088 052	6 784	189793,2%
Extraordinary income	4 273 669	86,5%	2 291 131	373,5%	483 893	4 466	95593,4%
Extraordinary charges	6 895 423	-45,4%	12 639 942	327,5%	2 956 856	1 814	380022,5%
Extraordinary profit/loss	-2 621 754	74,7%	-10 348 811	-318,5%	-2 472 963	0	0%
Net result	7 093 248	437,4%	1 319 873	-81,5%	7 141 158	7 775	91131,5%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2009	31/12/2008	31/12/2007
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2009		31/12/2008		31/12/2007
	Grand Total (I to VI)	Net	83 187 919	-8,6%	91 022 188	-3,1%	93 906 260
	Gross	CO	103 990 262	-6,1%	110 730 057	-2,5%	113 529 660
	Amortisation	1A	20 802 343	5,6%	19 707 869	0,4%	19 623 400

Non declared distributed capital (I)

		31/12/2009		31/12/2008		31/12/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2009		31/12/2008		31/12/2007
	Total Active fixed asset (II)	Net	38 211 312	-3,6%	39 645 516	-2,3%	40 595 436
	Gross	BJ	57 638 397	-1,3%	58 426 985	-0,8%	58 875 988
	Amortisation	BK	19 427 085	3,4%	18 781 469	2,7%	18 280 552

Intangilble fixed assets

			31/12/2009		31/12/2008		31/12/2007
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	23 154 179	0%	23 154 179	0%	23 154 179
	Gross	AF	23 192 691	0%	23 192 691	0%	23 192 691
	Amortisation	AG	38 512	0%	38 512	0%	38 512
	Goodwill	Net	11 685	0%	11 685	-96,9%	377 563
	Gross	AH	11 685	0%	11 685	-96,9%	377 563
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	171 206	-39,2%	281 467	-2,7%	289 169
	Gross	AJ	1 574 295	4,5%	1 506 599	8,8%	1 385 284
	Amortisation	AK	1 403 089	14,5%	1 225 132	11,8%	1 096 115
	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	23 337 070	-0,5%	23 447 331	-1,6%	23 820 911

Tangilble fixed assets

			31/12/2009		31/12/2008		31/12/2007
	Lands	Net	194 855	0%	194 855	0%	194 855
	Gross	AN	194 855	0%	194 855	0%	194 855
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	5 736 492	-4,2%	5 986 317	-3,3%	6 193 403
	Gross	AP	13 761 117	1,0%	13 620 417	0,7%	13 519 741
	Amortisation	AQ	8 024 625	5,1%	7 634 100	4,2%	7 326 338
	Plant	Net	348 682	-33,7%	525 860	-23,6%	688 679
	Gross	AR	8 072 473	-1,2%	8 174 634	-3,4%	8 463 825
	Amortisation	AS	7 723 791	1,0%	7 648 774	-1,6%	7 775 146
	Other tangible fixed assets	Net	599 930	-7,0%	645 337	-3,2%	666 468
	Gross	AT	2 499 390	5,6%	2 365 836	7,7%	2 196 457
	Amortisation	AU	1 899 460	10,4%	1 720 499	12,5%	1 529 989
	Fixed assets in construction	Net	0	0%	17 585	95,4%	9 000
	Gross	AV	0	0%	17 585	95,4%	9 000
	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	6 879 959		7 369 954		7 752 405

Financial assets

			31/12/2009		31/12/2008		31/12/2007
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	6 243 444	0,0%	6 243 445	0,4%	6 216 552
	Gross	CU	6 581 052	-2,6%	6 757 897	0,4%	6 731 004
	Amortisation	CV	337 608	-34,4%	514 452	0%	514 452
	Inter-company receivables	Net	1 130 050	-56,0%	2 568 373	-4,4%	2 685 429
	Gross	BB	1 130 050	-56,0%	2 568 373	-4,4%	2 685 429
	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	620 789	3682,3%	16 413	-86,3%	120 139
	Gross	BH	620 789	3682,3%	16 413	-86,3%	120 139
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		7 994 283		8 828 231		9 022 120

Current Assets (III)

			31/12/2009		31/12/2008		31/12/2007
	Total Assets	Net	44 975 818	-12,5%	51 375 504	-3,6%	53 310 756
	Gross	CJ	46 351 076	-11,4%	52 301 904	-4,3%	54 653 604
	Amortisation	CK	1 375 258	48,5%	926 400	-31,0%	1 342 848

Stocks

			31/12/2009		31/12/2008		31/12/2007
	Raw materials	Net	1 234 033	-15,5%	1 460 769	-14,5%	1 709 249
	Gross	BL	1 755 033	-4,1%	1 829 769	-27,8%	2 533 249
	Amortisation	BM	521 000	41,2%	369 000	-55,2%	824 000
	Work in progress (goods)	Net	1 220 000	-30,0%	1 742 000	16,0%	1 502 000
	Gross	BN	1 220 000	-30,0%	1 742 000	16,0%	1 502 000
	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	11 649 000	-12,5%	13 319 000	-11,0%	14 961 000
	Gross	BR	12 429 000	-10,1%	13 832 000	-10,0%	15 376 000
	Amortisation	BS	780 000	52,0%	513 000	23,6%	415 000
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	14 103 033	-14,6%	16 521 769	-9,1%	18 172 249

Advance payments to suppliers

			31/12/2009		31/12/2008		31/12/2007
	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

			31/12/2009		31/12/2008		31/12/2007
	Trade accounts receivable	Net	17 991 485	-19,1%	22 235 487	-23,1%	28 925 691
	Gross	BX	18 065 743	-18,9%	22 279 887	-23,3%	29 029 539
	Amortisation	BY	74 258	67,2%	44 400	-57,2%	103 848
	Other debtors	Net	1 754 156	-75,2%	7 081 498	122,6%	3 180 628
	Gross	BZ	1 754 156	-75,2%	7 081 498	122,6%	3 180 628
	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	19 745 641	-32,6%	29 316 985	-8,7%	32 106 319

Divers

			31/12/2009		31/12/2008		31/12/2007
	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	9 745 279	133,0%	4 182 698	176,4%	1 513 172
	Gross	CF	9 745 279	133,0%	4 182 698	176,4%	1 513 172
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	9 745 279	133,0%	4 182 698	176,4%	1 513 172

Prepaid expenses

			31/12/2009		31/12/2008		31/12/2007
	Prepaid expenses	Net	1 381 865	2,1%	1 354 052	-10,9%	1 519 016
	Gross	CH	1 381 865	2,1%	1 354 052	-10,9%	1 519 016
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2009		31/12/2008		31/12/2007
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	789	-32,4%	1 168	1617,6%	68
Gross		789	-32,4%	1 168	-	-

References

		31/12/2009		31/12/2008		31/12/2007
Due within one year	CP	0	0%	2 568 373	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2009		31/12/2008		31/12/2007
Grand Total (I to V)	EE	83 187 919	-8,6%	91 022 188	-3,1%	93 906 260

Shareholder Equity (I)

			31/12/2009		31/12/2008		31/12/2007
	Total shareholders' equity (Total I)	DL	40 087 999	63,7%	24 494 764	-14,6%	28 674 891
	Equity and shareholders' equity	DA	22 233 712	61,9%	13 733 724	0%	13 733 724
	Issue and merger premiums	DB	3 321 262	0%	3 321 262	0%	3 321 262
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	2 223 371	47,7%	1 504 950	0%	1 504 950
	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	24 261	0%	24 261	0%	24 261
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	5 192 145	13,1%	4 590 694	55,6%	2 949 536
	Profit or loss for the period	DI	7 093 248	437,4%	1 319 873	-81,5%	7 141 158
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2009		31/12/2008		31/12/2007
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2009		31/12/2008		31/12/2007
	Total provisions for risks and charges (Total III)	DR	1 788 740	-46,2%	3 327 266	-24,3%	4 393 101
	Risk provisions	DP	1 788 740	-46,2%	3 327 266	-24,3%	4 393 101
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2009		31/12/2008		31/12/2007
	Total Liabilities (Total IV)	EC	41 275 496	-34,7%	63 184 761	3,9%	60 793 970
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	24 064 189	-35,1%	37 068 159	12,9%	32 821 858
	Sundry loans and financial liabilities	DV	2 986 944	-74,0%	11 470 449	27,9%	8 969 876
	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	6 066 294	-4,6%	6 360 727	-21,6%	8 117 235
	Tax and social security liabilities	DY	7 209 869	5,9%	6 805 351	-21,5%	8 667 078
	Fixed asset liabilities	DZ	110 170	127,6%	48 400	-25,0%	64 523
	Other debts	EA	838 030	-41,5%	1 431 675	-33,5%	2 153 400

Translation loss (V)

		31/12/2009		31/12/2008		31/12/2007
Translation loss (Total V)	ED	35 684	131,8%	15 397	-65,2%	44 298

Equalization accounts

		31/12/2009		31/12/2008		31/12/2007
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2009		31/12/2008		31/12/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	22 235 496	-45,6%	40 864 762	0%	0
Of which current bank facilities	EH	1 744 189	-84,8%	11 468 159	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)

		31/12/2009		31/12/2008		31/12/2007
Operating result (Total I-II)	GG	14 420 876	-2,1%	14 727 965	-21,2%	18 679 638

2 - Financial result (V - VI)

		31/12/2009		31/12/2008		31/12/2007
Financial result (Total V-VI)	GV	-1 538 519	49,7%	-3 059 281	-18,0%	-2 591 586

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

		31/12/2009		31/12/2008		31/12/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	12 882 357	10,4%	11 668 684	-27,5%	16 088 052

4 - Extraordinary result (VII-VIII)

		31/12/2009		31/12/2008		31/12/2007
Extraordinary result (Total VII-VIII)	HI	-2 621 754	74,7%	-10 348 811	-318,5%	-2 472 963

Profit or loss

		31/12/2009		31/12/2008		31/12/2007
Profit or loss	HN	7 093 248	437,4%	1 319 873	-81,5%	7 141 158

Total Income (I+III+V+VII)

		31/12/2009		31/12/2008		31/12/2007
Total Income (I+III+V+VII)	HL	85 496 433	-3,5%	88 601 567	-4,1%	92 426 798

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

		31/12/2009		31/12/2008		31/12/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	78 403 185	-10,2%	87 281 694	2,3%	85 285 640

Operating income (I)

		31/12/2009		31/12/2008		31/12/2007
Total operating income (Total I)	FR	80 931 923	-5,8%	85 894 118	-6,1%	91 453 362

Operating income (details)

			31/12/2009		31/12/2008		31/12/2007
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	81 360 021	-0,9%	82 117 960	-4,0%	85 568 263
	France	FD	77 553 200	-0,4%	77 853 174	-4,3%	81 322 093
	Export	FE	3 806 821	-10,7%	4 264 786	0,4%	4 246 170
	Sale of services	FI	491 115	-85,9%	3 481 021	23,2%	2 824 847
	France	FG	484 706	-86,0%	3 471 680	23,5%	2 812 131
	Export	FH	6 409	-31,4%	9 341	-26,5%	12 716
	Net turnover	FL	81 851 136	-4,4%	85 598 981	-3,2%	88 393 110
	France	FJ	78 037 906	-4,0%	81 324 854	-3,3%	84 134 224
	Export	FK	3 813 230	-10,8%	4 274 127	0,4%	4 258 886
	Stocked production	FM	-2 188 222	-67,8%	-1 304 000	-180,4%	1 622 000
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	1 073 086	-26,7%	1 464 090	1,9%	1 436 790
	Other income	FQ	195 923	45,1%	135 047	9137,1%	1 462

Operating charges (II)

		31/12/2009		31/12/2008		31/12/2007
Total operating charges (Total II)	GF	66 511 047	-6,5%	71 166 153	-2,2%	72 773 724

Exploitation charges

		31/12/2009		31/12/2008		31/12/2007
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	22 235 468	-8,8%	24 377 458	-15,0%	28 690 020
Change in stocks of raw materials	FV	-42 000	-107,3%	572 000	289,1%	147 000
Other external purchases and charges	FW	17 702 298	-8,2%	19 290 019	2,2%	18 869 174
Tax, duty and similar payments	FX	1 800 917	2,0%	1 765 126	2,7%	1 718 951
Payroll	FY	15 928 792	-5,8%	16 910 363	12,3%	15 057 981
Social security costs	FZ	5 911 609	-3,2%	6 106 799	6,0%	5 759 536

Depreciation

		31/12/2009		31/12/2008		31/12/2007
Depreciation of fixed assets	GA	999 238	0,9%	990 420	-7,4%	1 069 273
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1 330 858	44,5%	920 752	-27,7%	1 273 937
Provisions for risks and charges	GD	374 628	0%	0	0%	0

Other charges

		31/12/2009		31/12/2008		31/12/2007
Other charges	GE	269 239	15,4%	233 216	24,1%	187 852

Operating charges (III-IV)

		31/12/2009		31/12/2008		31/12/2007
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2009		31/12/2008		31/12/2007
	Total financial income (Total V)	GP	290 841	-30,1%	416 318	-15,0%	489 543
	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	124 267	-50,9%	253 215	-19,5%	314 673
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	166 574	2,1%	163 103	-6,7%	174 870
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2009		31/12/2008		31/12/2007
	Total financial charge (Total VI)	GU	1 829 360	-47,4%	3 475 599	12,8%	3 081 129
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	1 726 925	-48,2%	3 335 405	10,2%	3 025 824
	Exchange losses	GS	102 435	-26,9%	140 194	153,5%	55 305
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2009		31/12/2008		31/12/2007
	Total extraordinary income (Total VII)	HD	4 273 669	86,5%	2 291 131	373,5%	483 893
	Extraordinary operating income	HA	1 140 489	96,2%	581 173	26,3%	460 221
	Extraordinary income from capital transactions	HB	0	0%	109 958	364,5%	23 672
	Released provisions and transferred charges	HC	3 133 180	95,8%	1 600 000	0%	0

Extraordinary charges (VIII)

			31/12/2009		31/12/2008		31/12/2007
	Total extraordinary charges (Total VIII)	HH	6 895 423	-45,4%	12 639 942	327,5%	2 956 856
	Extraordinary operating charges	HE	5 596 426	-53,6%	12 065 766	1219,7%	914 258
	Extraordinary charges from capital transactions	HF	176 844	403,2%	35 143	0%	0
	Extraordinary reserves and provisions	HG	1 122 153	108,2%	539 033	-73,6%	2 042 598

Employee profit sharing (IX)

		31/12/2009		31/12/2008		31/12/2007
Employee profit sharing (Total IX)	HJ	697 423	0%	0	0%	1 449 864

Tax on profits (X)

		31/12/2009		31/12/2008		31/12/2007
Tax on profits (Total X)	HK	2 469 932	0%	0	0%	5 024 067

References

		31/12/2009		31/12/2008		31/12/2007
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	121 959	0%	0
Of which transferred charges	A1	112 115	-8,1%	122 022	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	146 635	64,2%	89 309	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)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	OG	0	0%	0	0%	58 789 542
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	4 990 123
	Decreasess by budget item transfer	OK1	0	0%	0	0%	666 877
	Decreasess by transfers	OK2	6 256 016	59,4%	3 925 522	-7,3%	4 236 801
	Gross value at the end of period	OL	57 638 396	-1,3%	58 426 985	-0,8%	58 875 988

Research and development Charge (Total I)

			31/12/2009		31/12/2008		31/12/2007
	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)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	KD	24 710 975	-1,0%	24 955 537	-0,3%	25 027 262
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	67 695	-44,2%	121 315	-23,3%	158 092
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	365 878	59,2%	229 817
	Gross value at the end of period	LW	24 778 670	0,3%	24 710 975	-1,0%	24 955 538

Tangible fixed assets (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	LN	24 373 327	0,0%	24 383 878	1,3%	24 073 655
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	400 479	-46,8%	752 232	-53,5%	1 617 532
	Decreasess by budget item transfer	NG1	0	0%	0	0%	666 877
	Decreasess by transfers	NG2	245 971	-67,8%	762 783	19,1%	640 432
	Gross value at the end of period	NH	24 527 835	0,6%	24 373 327	0,0%	24 383 878

Fiancial assets (Total IV)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	LQ	9 342 683	-2,0%	9 536 572	-1,6%	9 688 625
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	4 999 253	92,1%	2 602 971	-19,0%	3 214 499
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	6 010 045	114,9%	2 796 861	-16,9%	3 366 552
	Gross value at the end of period	NK	8 331 891	-10,8%	9 342 683	-2,0%	9 536 572

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

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	17 511 241
Increases		0P	0	0%	0	0%	1 069 272
Decreasess		0Q	0	0%	0	0%	814 413
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	17 766 100

Research and development charge (Total I)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	PE	1 263 644	11,4%	1 134 628	1,3%	1 119 673
Increases		PF	177 956	37,9%	129 017	-31,7%	188 937
Decreasess		PG	0	0%	0	0%	173 982
	Decreasess by budget item transfer	PH	1 441 600	14,1%	1 263 645	11,4%	1 134 628

Total fixed assets amotisation (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	QU	17 003 373	2,2%	16 631 472	1,5%	16 391 568
Increases		QV	821 281	-4,7%	861 403	-2,2%	880 335
Decreases		QW	176 779	-63,9%	489 503	-23,6%	640 431
	Decreasess by budget item transfer	QX	17 647 875	3,8%	17 003 372	2,2%	16 631 472

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

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2009		31/12/2008		31/12/2007
	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)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	7C	4 768 118	-23,7%	6 250 401	47,2%	4 246 461
Increases		UB	2 827 639	93,7%	1 459 785	-56,0%	3 316 535
Decreases		UC	4 094 151	39,2%	2 942 068	124,1%	1 312 595
	Value at the end of period	UD	3 501 606	-26,6%	4 768 118	-23,7%	6 250 401

Includes Total allocations

Operating	UE	1 705 486	85,2%	920 752	-27,7%	1 273 937
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	1 122 153	108,2%	539 033	-73,6%	2 042 598

Includes Total Withdrawal

Operating	UF	960 971	-28,4%	1 342 068	2,2%	1 312 595
Financial	UH	0	0%	0	0%	0
Exceptional	UK	3 133 180	95,8%	1 600 000	0%	0

Total regulated provisions (Total I)

			31/12/2009		31/12/2008		31/12/2007
	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)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	5Z	3 327 266	-24,3%	4 393 101	85,7%	2 366 066
Increases		TV	1 496 781	177,7%	539 033	-73,6%	2 042 598
Decreases		TW	3 035 307	89,1%	1 604 868	10212,1%	15 563
	Value at the end of period	TX	1 788 740	-46,2%	3 327 266	-24,3%	4 393 101

Total Provision for depreciation (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	7B	1 440 852	-22,4%	1 857 300	-1,2%	1 880 395
Increases		TY	1 330 858	44,5%	920 752	-27,7%	1 273 937
Decreases		TZ	1 058 844	-20,8%	1 337 200	3,1%	1 297 032
	Value at the end of period	UA	1 712 866	18,9%	1 440 852	-22,4%	1 857 300

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

		31/12/2009		31/12/2008		31/12/2007
Gross value	VT	22 951 602	-31,1%	33 300 222	-8,9%	36 535 200
1 year at most	VU	22 869 101	-31,3%	33 283 810	-8,6%	36 415 061
More than one year	VV	82 501	402,7%	16 412	-86,3%	120 139

State of loans

		31/12/2009		31/12/2008		31/12/2007
Claims related to holdings (gross)	UL	1 130 050	-56,0%	2 568 373	-4,4%	2 685 429
Claims related to shareholdings (1 year at most)	UM	1 130 050	-56,0%	2 568 373	-4,4%	2 685 429
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	620 789	3682,5%	16 412	-86,3%	120 139
Other financial assets (1 year at most)	UV	620 789	0%	0	0%	0

Receivables statement of assets

		31/12/2009		31/12/2008		31/12/2007
Customers doubtful or disputed	VA	82 501	56,2%	52 825	-54,9%	117 093
Other claims customer	UX	17 983 242	-19,1%	22 227 063	-23,1%	28 912 446
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	24 231	-94,7%	453 704	-1,0%	458 254
Social Security and other social organizations	UZ	0	0%	0	0%	388
Income taxes	VM	0	0%	3 768 004	0%	0
Value added tax	VB	654 150	-60,6%	1 661 428	1472,3%	105 668
Other taxes and payments assimilated	VN	0	0%	0	0%	9 136
State and other public - Miscellaneous	VP	26 434	221,7%	8 218	2955,0%	269
Group and Associates	VC	903 620	-14,1%	1 051 516	-56,4%	2 409 362
Accounts receivable (including claims relating to the operation of pension titles)	VR	144 720	4,4%	138 627	-30,0%	198 000

Prepaid

		31/12/2009		31/12/2008		31/12/2007
Prepaid	VS	1 381 865	2,1%	1 354 052	-10,9%	1 519 016

State Debt

			31/12/2009		31/12/2008		31/12/2007
	Total debt (gross)	VY	41 275 496	-34,7%	63 184 762	3,9%	60 793 970
1 year at most		VZ2	22 235 496	-45,6%	40 864 762	16,1%	35 193 970
More than 1 year and 5 years at most		VZ3	19 040 000	-14,7%	22 320 000	-12,8%	25 600 000
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2009		31/12/2008		31/12/2007
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	1 744 189	-84,8%	11 468 159	190,9%	3 941 858
1 year at most		VG2	1 744 189	-84,8%	11 468 159	190,9%	3 941 858
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	22 320 000	-12,8%	25 600 000	-11,4%	28 880 000
1 year at most		VH2	3 280 000	0%	3 280 000	0%	3 280 000
More than 1 year and 5 years at most		VH3	19 040 000	-14,7%	22 320 000	-12,8%	25 600 000
	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	6 066 294	-4,6%	6 360 727	-21,6%	8 117 235
1 year at most		8B2	6 066 294	-4,6%	6 360 727	-21,6%	8 117 235
More than 1 year and 5 years at most		8B3	6 066 294	-4,6%	6 360 727	0%	0
	Personnel and associated accounts (gross)	8C1	3 648 174	4,1%	3 505 025	-16,2%	4 182 260
1 year at most		8C2	3 648 174	4,1%	3 505 025	-16,2%	4 182 260
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	2 053 150	-25,2%	2 745 326	51,2%	1 816 081
1 year at most		8D2	2 053 150	-25,2%	2 745 326	51,2%	1 816 081
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	624 587	0%	0	0%	1 406 568
1 year at most		8E2	624 587	0%	0	0%	1 406 568
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	341 394	0%	0	0%	699 971
1 year at most		VW2	341 394	0%	0	0%	699 971
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	542 564	-2,2%	555 000	-1,3%	562 198
1 year at most		VQ2	542 564	-2,2%	555 000	-1,3%	562 198
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	110 170	127,6%	48 400	-25,0%	64 523
1 year at most		8J2	110 170	127,6%	48 400	-25,0%	64 523
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	2 986 944	-74,0%	11 470 449	27,9%	8 969 876
1 year at most		VI2	2 986 944	-74,0%	11 470 449	27,9%	8 969 876
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	838 030	-41,5%	1 431 676	-33,5%	2 153 400
1 year at most		8K2	838 030	-41,5%	1 431 676	-33,5%	2 153 400
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

		31/12/2009		31/12/2008		31/12/2007
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	3 280 000	0%	3 280 000	0%	3 280 000

Table allocation results and other information
Dividends distributed

		31/12/2009		31/12/2008		31/12/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2009		31/12/2008		31/12/2007
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	274 407
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2009		31/12/2008		31/12/2007
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2009		31/12/2008		31/12/2007
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2009		31/12/2008		31/12/2007
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2009		31/12/2008		31/12/2007
Average number of employees	YP	0	0%	0	0%	626

Groups and Shareholders

		31/12/2009		31/12/2008		31/12/2007
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Fixed Asset Financing		1,50	4,9%	1,43	-9,5%	1,58	2,27	-33,9%
Global Debt		182 days	-31,6%	266 days	7,3%	248 days	98,50 days	84,8%
Working Capital Fund overall net		127 days	19,8%	106 days	-24,3%	140 days	113,50 days	11,9%
Financial independence		166,59%	152,1%	66,08%	-24,4%	87,37%	804,99%	-79,3%
More ratios
Solvability		48,19%	79,1%	26,91%	-11,9%	30,54%	45,91%	5,0%
Capacity debt futures		797,90%	380,4%	166,09%	-58,2%	397,06%	1643,38%	-51,4%
Coverage of current assets by net working capital overall		64,43%	30,0%	49,55%	-23,2%	64,49%	49,17%	31,0%
General Liquidity		1,03	27,2%	0,81	-21,4%	1,03	0,72	43,1%
Restricted Liquidity		1,47	59,8%	0,92	-14,8%	1,08	1,33	10,5%

Management or rotation

		31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Need background in operating working capital		86 days	-34,4%	131 days	3,1%	127 days	43 days	100%
Treasury		35 days	212,9%	-31 days	-616,7%	6 days	30,50 days	14,8%
Inventory turnover of goods		days	-	days	-	days	31,50 days	-
Average length of credit granted to customers		79 days	-16,0%	94 days	-20,3%	118 days	47 days	68,1%
Average length of credit obtained suppliers		55 days	5,8%	52 days	-14,8%	61 days	53 days	3,8%
More ratios
Inventory turnover of raw materials in industrial enterprises		28 days	3,7%	27 days	-15,6%	32 days	92 days	-69,6%
Inventory turnover of intermediate and finished products in the industrial enterprise		334 days	-4,8%	351 days	-3,3%	363 days	1288 days	-74,1%
Rotation tangible assets		333,71%	-5,0%	351,20%	-3,1%	362,51%	700,83%	-52,4%

Profitability of the business

		31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		19,70	10,4%	17,84	-20,3%	22,37	2,06%	856,3%
Net profit		8,67%	463,0%	1,54%	-80,9%	8,08%	1,22%	610,7%
More ratios
Growth rate of turnover (excluding VAT)		-4,38%	-38,6%	-3,16%	-161,5%	5,14%	-7,66%	42,8%
Rates integration		48,58%	3,8%	46,79%	-2,2%	47,86%	31,60%	53,7%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		54,92%	-4,4%	57,46%	16,8%	49,20%	86,14%	-36,2%
Weight interests		2,23	-45,1%	4,06%	16,3%	3,49%	0,55%	305,5%

Return on capital

		31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Cash flow from the overall profitability		6,47%	3335,0%	-0,20%	-102,0%	10,09%	2,32%	178,9%
Rates of economic profitability		24%	14,3%	21%	-25,0%	28%	8,11%	195,9%
Financial profitability		40087999%	63,7%	24494764%	-14,6%	28674891%	249900%	15941,6%
Return on investment		13,29%	102,3%	6,57%	-54,7%	14,51%	9%	47,7%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2009		31/12/2008		31/12/2007	Sector Median 2009
Turnover	81 851 136	-4,4%	85 598 981	-3,2%	88 393 110	1 424 655 €	5645,3%

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

Sale of goods produced	81 851 136	-4,4%	85 598 981	-3,2%	88 393 110
+/- Stocked production	-2 188 222	-67,8%	-1 304 000	-180,4%	1 622 000
+ Self-constructed assets	0	0%	0	0%	0
Period production	79 662 914 €	-5,5%	84 294 981 €	-6,4%	90 015 110 €	797 474 €	9889,4%
	97,33 % CA	-1,2%	98,48 % CA	-3,3%	101,83 % CA	99,88 % CA	-2,6%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	79 662 914	-5,5%	84 294 981	-6,4%	90 015 110	797 474	9889,4%
- Purchase of raw materials	22 235 468	-8,8%	24 377 458	-15,0%	28 690 020
+/- Change in stocks of raw materiels	-42 000	-107,3%	572 000	289,1%	147 000
- Other external purchases and charges	17 702 298	-8,2%	19 290 019	2,2%	18 869 174
Added value	39 767 148 €	-0,7%	40 055 504 €	-5,3%	42 308 916 €	444 217 €	8852,2%
	48,58 % CA	3,8%	46,79 % CA	-2,2%	47,86 % CA	31,60 % CA	53,7%

Added value	39 767 148 €	-0,7%	40 055 504 €	-5,3%	42 308 916 €	444 217 €	8852,2%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	1 800 917	2,0%	1 765 126	2,7%	1 718 951
- Personal charges	21 840 401	-5,1%	23 017 162	10,6%	20 817 517
Gross operating surplus	16 125 830 €	5,6%	15 273 216 €	-22,8%	19 772 448 €	4 576 €	352300,1%
	19,70 % CA	10,4%	17,84 % CA	-20,3%	22,37 % CA	2,06 % CA	856,3%

Gross operating surplus	16 125 830 €	5,6%	15 273 216 €	-22,8%	19 772 448 €	4 576 €	352300,1%
+ Release of reserves and provisions	1 073 086	-26,7%	1 464 090	1,9%	1 436 790
+ Other operating income	195 923	45,1%	135 047	9137,1%	1 462
- Depreciation/Amortisation	2 704 724	41,5%	1 911 172	-18,4%	2 343 210
- Other charges	269 239	15,4%	233 216	24,1%	187 852
Operating result	14 420 876 €	-2,1%	14 727 965 €	-21,2%	18 679 638 €	8 082 €	178332,0%
	17,62 % CA	2,4%	17,21 % CA	-18,6%	21,13 % CA	1,38 % CA	1176,8%

Operating result	14 420 876 €	-2,1%	14 727 965 €	-21,2%	18 679 638 €	8 082 €	178332,0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	290 841	-30,1%	416 318	-15,0%	489 543
- Financial charges	1 829 360	-47,4%	3 475 599	12,8%	3 081 129
Pre-tax result	12 882 357 €	10,4%	11 668 684 €	-27,5%	16 088 052 €	6 784 €	189793,2%
	15,74 % CA	15,5%	13,63 % CA	-25,1%	18,20 % CA	1,03 % CA	1428,2%

Extraordinary income	4 273 669	86,5%	2 291 131	373,5%	483 893	4 466	95593,4%
- Extraordinary charges	6 895 423	-45,4%	12 639 942	327,5%	2 956 856
Extraordinary result	-2 621 754 €	74,7%	-10 348 811 €	-318,5%	-2 472 963 €	0 €	0%
	-3,20 % CA	73,5%	-12,09 % CA	-331,8%	-3 % CA	0 % CA	0%

Pre-tax result	12 882 357 €	10,4%	11 668 684 €	-27,5%	16 088 052 €	6 784 €	189793,2%
Extraordinary result	-2 621 754 €	74,7%	-10 348 811 €	-318,5%	-2 472 963 €	0 €	0%
- Employee profit sharing	697 423	0%	0	0%	1 449 864
- Tax on profits	2 469 932	0%	0	0%	5 024 067
Net result	7 093 248 €	437,4%	1 319 873 €	-81,5%	7 141 158 €	7 777 €	91108,0%
	8,67 % CA	463,0%	1,54 % CA	-80,9%	8,08 % CA	1,22 % CA	610,7%

Payment Information Summary - Trade Payment Data
Total number of Invoices available	9
Total number of Invoices paid within or up to 30 days after the due date	7
Total number of Invoices paid more than 30 days after the due date	2
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

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	17/03/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	FINATHEM
Direct parent	FINATHEM - 100 %
Group – Number of companies	3
Linkages – Number of companies	1
Number of countries	1

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FINATHEM

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Company Name	Safe Number	SIREN	Parts	Limit	Last account published
FINATHEM	-	-	-	-	-
EMINENCE	FR02209036	350169124	100%	250 000 €	31/12/2009
LIABEL	-	-	100%	-	-

Type of shareholder

Shareholders

Linkages

Ultimate parent company	FINATHEM
Direct parent	FINATHEM - 100 %
Group – Number of companies	3
Linkages – Number of companies	1
Number of countries	1

Company Name	Safe Number	SIREN	Last account	Limit	Turnover
EMINENCE BENELUX SA	BE00137292	424902560	31/12/2011	87 000 €	3 926 697 €

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
07/12/2011	Bodacc B	Modification et mutation diverse
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NÎMES 925 - 350 169 124 RCS Nîmes. EMINENCE. Forme : Société par Actions Simplifiée. Administration : ERNST & YOUNG ET AUTRES devient commissaire aux comptes titulaire. AUDITEX devient commissaire aux comptes suppléant. Activité : . Commentaires : Modification de l'administration.
08/09/2010	Bodacc C	Comptes annuels et rapports
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NÎMES 409 - 350169124 RCS. EMINENCE. Forme : Société par Actions Simplifiée. Adresse : route de Gallargues BP 30 30470 Aimargues. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
15/01/2010	Bodacc C	Comptes annuels et rapports
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NIMES 3554 - 350169124 RCS. EMINENCE. Forme : Société par Actions Simplifiée. Adresse : route de Gallargues BP 30 30470 Aimargues. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
10/07/2009	Bodacc B	Modification et mutation diverse
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NIMES 222 - 350 169 124 RCS Nîmes. EMINENCE. Forme : Société par Actions Simplifiée. Capital : 22233712.20 EUR. Commentaires : Modification du capital.
04/02/2009	Bodacc C	Comptes annuels et rapports
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NIMES 2170 - 350169124 RCS. EMINENCE. Forme : Société par Actions Simplifiée. Adresse : route de Gallargues BP 30 30470 Aimargues. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
16/04/2008	Bodacc C	Comptes annuels et rapports
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NIMES 2744 - 350169124 RCS. EMINENCE. Forme : Société par Actions Simplifiée. Adresse : route DE GALLARGUES BP 30 30470 Aimargues. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
27/02/2008	Bodacc B	Modification et mutation diverse
30 - GARD GREFFE DU TRIBUNAL DE COMMERCE DE NIMES 1550 - 350 169 124 RCS Nîmes. EMINENCE. Forme : Société par Actions Simplifiée. Administration : LEFEBVRE Marc nom d'usage : LEFEBVRE Marc n'est plus président.. SEAU Dominique Christophe nom d'usage : SEAU Dominique devient président.. Commentaires : Modification de l'administration.
08/10/2006	Bodacc C	Avis de dépôt des comptes
1688 - RCS Nîmes B 350 169 124. RC 89-B 273. EMINENCE. Forme: S.A.S. Adresse du siège social: Route de Gallargues,30470 Aimargues. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
03/12/2005	Bodacc C	Avis de dépôt des comptes
62 - RCS Nîmes B 350 169 124. RC 89-B 273. EMINENCE. Forme: S.A.S. Adresse du siège social: Route de Gallargues,30470 Aimargues. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
01/05/2005	Bodacc B	Modifications et mutations diverses
575 - RCS Nîmes B 350 169 124. RC 89-B 273. EMINENCE. Forme : S.A.S. Capital : 13 733 724,12 euros. Adresse du siège social : route de Gallargues, B.P. 30,, 30470 Commentaires : modification survenue sur le capital (diminution). Date d'effet : 1er janvier 2004.
28/09/2004	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A.S. Capital : 15 049 500 euros. Adresse du siège social : route de Gallargues, B.P. 30, 30470 Aimargues. Commentaires : modification survenue sur l'administration. Administration : président : LEFEBVRE ( Marc) ( Nom d'usage : LEFEBVRE). Commissaire aux comptes titulaire : PRICEWATERHOUSE COOPERS AUDIT, représentée par SOURDOIS (Dominique) ( Nom d'usage : SOURDOIS). Commissaire aux comptes suppléant : COLL (Pierre) ( Nom d'usage : COLL). Date d'effet : 30 juin 2004.
30/11/2003	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A.S. Capital : 15 049 500 euros. Adresse du siège social : route de Gallargues, B.P. 30, 30470 Aimargues. Commentaires : modification survenue sur l'administration. Administration : président : LEFEBVRE ( Marc) ( Nom d'usage : LEFEBVRE). Commissaire aux comptes titulaire : COOPERS ET LYBRAND AUDIT, représentée par SOURDOIS (Dominique) ( Nom d'usage : SOURDOIS). Commissaire aux comptes suppléant : PRICEWATERHOUSECOOPERS AUDIT, représentée par SOURDOIS ( Dominique) ( Nom d'usage : SOURDOIS). Date d'effet : 30 juin 2003.
25/02/2003	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A.S. Capital : 15 049 500 euros. Adresse du siège social : route de Gallargues, B.P. 30, 30470 Aimargues. Commentaires : modification survenue sur l'administration. Administration : président : LEFEBVRE ( Marc) ( Nom d'usage : LEFEBVRE). Commissaire aux comptes titulaire : COOPERS ET LYBRAND AUDIT. Commissaire aux comptes suppléant : BEFEC-PRICE WATERHOUSE, représentée par SOURDOIS ( Dominique) ( Nom d'usage : SOURDOIS). Date d'effet : 28 juin 2002.
05/12/2002	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A.S. Capital : 15 049 500 euros. Adresse du siège social : route de Gallargues, B.P. 30, 30470 Aimargues. Commentaires : modification survenue sur le capital (diminution). Date d'effet : 28 décembre 2001.
12/03/2000	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A.S. Adresse du siège social : route de Gallargues, B.P. 30, 30470 Aimargues. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : président : LEFEBVRE ( Marc) ( Nom d'usage : LEFEBVRE). Commissaires aux comptes titulaires : STE SOFISA, représentée par SERRE ( Michel) ( Nom d'usage : SERRE) CABINET ERNST ET YOUNG, représentée par PESKINE ( Nom d'usage : PESKINE). Commissaires aux comptes suppléants : CABINET MICHEL ET LARGUIER ASSOCIES CABINET ERNST ET YOUNG, représentée par DELRIEU (Jean-Maurice) ( Nom d'usage : DELRIEU). Date d'effet : 6 décembre 1999.
17/02/2000	Bodacc A	Création d'établissement
RCS Paris B 350169124 RC 00-B 1712 EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Adresse du siège social : route de Gallargues, B.P. 30 30470 Aimargues Etablissement principal: Activité : industrie textile, bonneterie, parfums, eaux de toilette, produits cosmétiques. Adresse : 59, rue de Rennes 75006 Paris Etablissement principal acquis par achat au prix stipulé de 2 400 000 F Date de début d' activité: 1 e r janvier 2000. Précédent propriétaire : SOCIETE CAMAND. RCS non inscrit. Publication légale: La Gazette du Palais du 13 janvier 2000. Oppositions : Séquestre Juridique de l' Ordre des Avocats, 11, place Dauphine, 75053 Paris-Louvre.
03/04/1999	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350 169 124 RC 89-B 273 EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Capital : 98 750 000 F. Adresse du siège social : route de Gallargues, B.P. 30 30470 Aimargues. Commentaires : capital social porté à 173 750 000 F puis ramené à 98 750 000 F. Date d'effet : 30 décembre 1998.
17/03/1998	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350 169 124 RC 89-B 273 EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Capital : 98 750 000 F. Adresse du siège social : route de Gallargues, B.P. 30 3470 Aimargues. Administration : nouveau membre du conseil de surveillance : WEBER (Thomas) . Non renouvellement du mandat de Me AUZIAS, en qualité de membre du conseil de surveillance. Date d'effet : 27 juin 1997.
09/12/1997	Bodacc B	Modifications et mutations diverses
RCS Nimes B 350 169 124 RC 89-B 273 EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Capital : 98 750 000 F. Adresse du siège social : route de Gallargues, B.P. 30 30470 Aimargues. Administration : fin des fonctions de président du directoire intérimaire de MAHE (Raymond), mais reste membre du directoire. Nomination de LEFEBVRE ( Marc) de président et membre du directoire. Date d'effet : 1er janvier 1997.
31/05/1997	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Nimes B 350169124 RC 89-B 273 EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Capital : 38 750 000 F ( fixe). Adresse : route de Gallargues, B.P. 30, 30470 Aimargues Nouvelle situation du siège social. Capital : 98 750 000 F. Date d'effet : 30décembre1996.
25/06/1996	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Nimes B 350 169 124 RC 89-B 273 E.M.A.H. Forme : S.A. Capital : 38 750 000 F (fixe). Adresse : route de Gallargues, B.P. 30, 30470 Aimargues Nouvelle situation du siège social dénomination: SOCIETE EMINENCE. Forme : S.A. à directoire et conseil de surveillance. Activité : industrie textile et plus particulièrement la bonneterie, fabrication, achat, vente sous sa marque ou sous toutes ses marques créées ou concédées ainsi que la réprésentation de tous parfums, eaux de toilettes, produits cosmétiques. Commentaires : ces modifications font suite à la réalisation de la fusion- absorption de la société EMINENCE par la société E.M.A.H., le capital ne change pas. Date d'effet : 31 décembre 1995 (effet rétroactif au 1er janvier 1995).

directors

Name	M. SEAU DOMINIQUE CHRISTOPHE
Manager position	Président	Date of birth	30/10/1965
Place of birth	BAGNOLS SUR CEZE(30)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Président	M MARC LEFEBVRE	28/08/1944 - CRECY EN PONTHIEU
Président	M DOMINIQUE CHRISTOPHE SEAU	30/10/1965 - BAGNOLS SUR CEZE(30)
Président	M DOMINIQUE SEAU	30/10/1965- -
Président	M DOMINIQUE CHRISTOPHE SEAU	30/10/1965 - BAGNOLS SUR CEZE(30)

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.26
UK Pound	1	Rs.81.93
Euro	1	Rs.70.21

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.