MIRA INFORM REPORT

Report Date :

08.11.2013

IDENTIFICATION DETAILS

Name :	SA LES SILOS DE TOURTOULEN
Registered Office :	Sa Les Silos De Tourtoulen Dom De Tourtoulen Giraud Et Tourtoulen 13200 Arles
Country :	France
Financials (as on) :	31.08.2012
Date of Incorporation :	July, 1989
Legal Form :	Public Limited Company with board of directors
Line of Business :	Subject is a provider of products and services such as cereals and grains.
No. of Employees :	20 to 49 Employees

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

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

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
France	A1	A1

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

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.8% of GDP in 2012, while France's public debt rose from 68% of GDP to 90% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

SA LES SILOS DE TOURTOULEN

SIRET

351 422 829 00017

Company summary

Activity (APE)	Other activities of grain mill (1061B)	EUR VAT Number	FR40351422829
Phone	04 90 97 21 24	Legal form	Public limited company with board of directors
Fax	--	RCS Registration	RCS Arles B 351 422 829
Address	SA LES SILOS DE TOURTOULEN DOM DE TOURTOULEN GIRAUD ET TOURTOULEN 13200 ARLES	Share capital	1,435,030 Euros
Nationality	France	Incorporated Date	07/1989
Status	Economically active

Company details

Activity (APE)	Other activities of grain mill (1061B)
RCS Registration	RCS Arles B 351 422 829	Share capital	1,435,030 Euros
Registration Court	Arles (13)	Legal form	Public limited company with board of directors
Court Registry Number	89 B 00094	EUR VAT Number	FR40351422829
Incorporation Date	07/1989	Formation Date	07/1989
Deregistration Date	--	Last account Date	31/08/2012
Nationality	France

DIRECTORS/MANAGEMENT

Directors

Name	M. LACROTTE FLORIAN
Manager position	Chief Executive Officer, Administrator	Date of birth	07/06/1955
Place of birth	ARLES
Type	Individual	Name at birth

Name	MME. MAZET CHRISTINE
Manager position	Administrator	Date of birth	25/06/1967
Place of birth	ARLES
Type	Individual	Name at birth	MANDROLINI

Name	M. MANDROLINI SYLVAIN
Manager position	Delegated managing director, Administrator	Date of birth	21/04/1950
Place of birth	ARLES
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

Judgments

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

SHARE & SHARE CAPITAL INFORMATION

No Shareholders available for this company.

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data

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GROUP STRUCTURE & AFFILIATED COMPANIES

No group information available for the company.

FINANCIAL INFORMATION

Trading to Date	08/31/2012	08/31/2011	08/31/2010
Turnover	14,172,065 €	19,791,193 €	14,895,547 €
Gross Operating Surplus	6,08 % Turnover	3,15 % Turnover	5,22 % Turnover
Shareholders’ equity	1,532,850 €	1,528,086 €	1,535,615 €
Net result	34,737 €	22,445 €	27,110 €
Employees	20 to 49 employees	-	-

Accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/08/2012	31/08/2011	31/08/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	28/03/2013	16/04/2012	18/03/2011
Activity Code	1061B	1061B	1061B
Employees	0	0	18

Active account

Annual Accounts	31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	2 935 790	-5,6%	3 110 862	-7,0%	3 344 241	910 290	222,5%
- Intangible assets	109 771	45637,9%	240	23900%	01	17 796	516,8%
- Tangible assets	2 488 702	-8,2%	2 712 020	-6,4%	2 897 619	598 828	315,6%
- Financial assets	337 317	-15,4%	398 602	-10,8%	446 621	7 500	4397,6%
Net current assets	12 705 615	21,5%	10 456 958	17,3%	8 918 134	2 959 510	329,3%
- Stocks	7 917 089	44,2%	5 488 724	41,8%	3 870 010	903 264	776,5%
- Advanced payments	0	21,5%	0	0%	0	0	0%
- Receivables	4 713 698	-0,6%	4 741 446	-3,9%	4 933 775	1 378 780	241,9%
- Securities and cash	74 828	-67,0%	226 788	98,3%	114 349	74 828	0%
- Prepaid expenses	-	-	-	-	-	-	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	15 641 404	15,3%	13 567 821	10,6%	12 262 377	4 411 028	254,6%

Passive Account

Annual Accounts	31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Shareholders' equity	1 532 850	0,3%	1 528 086	-0,5%	1 535 615	1 837 946	-16,6%
Share capital	1 435 030	0%	1 435 030	0%	1 435 030	164 000	775,0%
Other capital resources	1 028 000	0%	1 028 000	0%	1 028 000	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	13 080 558	18,8%	11 011 735	13,5%	9 698 763	1 785 763	632,5%
- Financial liabilities	9 065 548	12,8%	8 034 534	32,9%	6 045 533	455 008	1892,4%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2 126 439	8,7%	1 956 692	-29,9%	2 789 379	1 009 190	110,7%
- Tax and social liabilities	186 593	39,1%	134 172	-46,8%	252 109	175 271	6,5%
- Other debts and fixed assets liabilities	1 701 978	92,0%	886 337	44,9%	611 742	32 096	5202,8%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	15 641 404	15,3%	13 567 821	10,6%	12 262 376	4 411 028	254,6%

Results

Annual Accounts	31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Sales of Goods	14 065 462	-29,9%	20 056 700	46,9%	13 655 334	7 577 766	85,6%
Net turnover	14 172 065	-28,4%	19 791 193	32,9%	14 895 547	6 456 059	119,5%
- of which net export turnover	5 478 639	-40,1%	9 142 275	36,6%	6 693 906	70 047	7721,4%
Operating charges	13 731 605	-31,2%	19 961 640	49,9%	13 319 252	6 743 967	103,6%
Operating profit/loss	333 857	251,2%	95 060	-71,7%	336 082	132 454	152,1%
Financial income	205 033	-18,8%	252 625	129,7%	109 998	4 998	4002,3%
Financial charges	526 935	53,9%	342 315	-23,0%	444 433	24 008	2094,8%
Financial profit/loss	-321 902	-258,9%	-89 690	73,2%	-334 435	-8 456	-3706,8%
Pretax net operating income	11 955	122,6%	5 370	226,0%	1 647	108 949	-89,0%
Extraordinary income	38 592	21,1%	31 859	-21,5%	40 597	9 042	326,8%
Extraordinary charges	2 037	-37,6%	3 265	0%	0	9 257	-78,0%
Extraordinary profit/loss	36 555	27,8%	28 594	-29,6%	40 597	0	0%
Net result	34 737	54,8%	22 445	-17,2%	27 110	95 314	-63,6%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/08/2012	31/08/2011	31/08/2010
Months	12	12	12

Accounts - Active

Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/08/2012		31/08/2011		31/08/2010
Grand Total (I to VI)	Net	15 641 404	15,3%	13 567 821	10,6%	12 262 377
Gross	CO	19 332 242	15,7%	16 709 867	12,3%	14 876 966
Amortisation	1A	3 690 838	17,5%	3 142 046	20,2%	2 614 589

Non declared distributed capital (I)

		31/08/2012		31/08/2011		31/08/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/08/2012		31/08/2011		31/08/2010
Total Active fixed asset (II)	Net	2 935 790	-5,6%	3 110 862	-7,0%	3 344 241
Gross	BJ	6 403 955	4,3%	6 138 237	3,1%	5 951 209
Amortisation	BK	3 468 165	14,6%	3 027 375	16,1%	2 606 968

Intangible fixed assets

			31/08/2012		31/08/2011		31/08/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	239	0%	0
	Gross	AF	2 019	0%	2 019	32,5%	1 524
	Amortisation	AG	2 019	13,4%	1 780	16,8%	1 524
	Goodwill	Net	01	0%	01	0%	01
	Gross	AH	01	0%	01	0%	01
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	109 770	0%	0	0%	0
	Gross	AJ	109 770	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	109 771	45637,9%	240	23900%	01

Tangible fixed assets

			31/08/2012		31/08/2011		31/08/2010
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	728 754	-4,5%	763 095	-3,6%	791 737
	Gross	AP	1 244 127	3,5%	1 202 018	3,7%	1 158 980
	Amortisation	AQ	515 373	17,4%	438 923	19,5%	367 243
	Plant	Net	1 561 308	-17,8%	1 899 618	-8,5%	2 076 446
	Gross	AR	4 432 229	0,3%	4 418 449	3,8%	4 255 072
	Amortisation	AS	2 870 921	14,0%	2 518 831	15,6%	2 178 626
	Other tangible fixed assets	Net	49 704	24,9%	39 780	47,5%	26 969
	Gross	AT	129 556	20,4%	107 621	24,4%	86 544
	Amortisation	AU	79 852	17,7%	67 841	13,9%	59 575
	Fixed assets in construction	Net	148 936	1463,3%	9 527	286,2%	2 467
	Gross	AV	148 936	1463,3%	9 527	286,2%	2 467
	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	2 488 702		2 712 020		2 897 619

Financial assets

			31/08/2012		31/08/2011		31/08/2010
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	125 665	0%	125 665	19,5%	105 165
	Gross	CU	125 665	0%	125 665	19,5%	105 165
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	118 527	-34,1%	179 812	-11,0%	202 061
	Gross	BB	118 527	-34,1%	179 812	-11,0%	202 061
	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	93 125	0%	93 125	-33,2%	139 395
	Gross	BH	93 125	0%	93 125	-33,2%	139 395
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		337 317		398 602		446 621

Current Assets (III)

			31/08/2012		31/08/2011		31/08/2010
	Total Assets	Net	12 705 615	21,5%	10 456 958	17,3%	8 918 134
	Gross	CJ	12 928 287	22,3%	10 571 628	18,4%	8 925 756
	Amortisation	CK	222 672	94,2%	114 670	1404,5%	7 622

Stocks

			31/08/2012		31/08/2011		31/08/2010
	Raw materials	Net	6 241 704	68,8%	3 698 143	57,8%	2 343 997
	Gross	BL	6 241 704	68,8%	3 698 143	57,8%	2 343 997
	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	1 610 400	-7,4%	1 739 152	16,8%	1 488 366
	Gross	BR	1 610 400	-7,4%	1 739 152	16,8%	1 488 366
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	64 985	26,4%	51 429	36,6%	37 647
	Gross	BT	64 985	26,4%	51 429	36,6%	37 647
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	7 917 089	44,2%	5 488 724	41,8%	3 870 010

Advance payments to suppliers

			31/08/2012		31/08/2011		31/08/2010
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/08/2012		31/08/2011		31/08/2010
	Trade accounts receivable	Net	3 605 663	0,7%	3 582 331	-12,9%	4 111 643
	Gross	BX	3 828 335	3,6%	3 697 001	-10,3%	4 119 265
	Amortisation	BY	222 672	94,2%	114 670	1404,5%	7 622
	Other debtors	Net	1 057 417	-4,4%	1 105 888	121,2%	499 923
	Gross	BZ	1 057 417	-4,4%	1 105 888	121,2%	499 923
	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	4 663 080	-0,5%	4 688 219	1,7%	4 611 566

Divers

			31/08/2012		31/08/2011		31/08/2010
	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	74 828	-67,0%	226 788	98,3%	114 349
	Gross	CF	74 828	-67,0%	226 788	98,3%	114 349
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	74 828	-67,0%	226 788	98,3%	114 349

Prepaid expenses

			31/08/2012		31/08/2011		31/08/2010
	Prepaid expenses	Net	50 618	-4,9%	53 227	-83,5%	322 209
	Gross	CH	50 618	-4,9%	53 227	-83,5%	322 209
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/08/2012		31/08/2011		31/08/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/08/2012		31/08/2011		31/08/2010
Due within one year	CP	0	0%	0	0%	202 061
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)

		31/08/2012		31/08/2011		31/08/2010
Grand Total (I to V)	EE	15 641 404	15,3%	13 567 821	10,6%	12 262 376

Shareholder Equity (I)

			31/08/2012		31/08/2011		31/08/2010
	Total shareholders' equity (Total I)	DL	1 532 850	0,3%	1 528 086	-0,5%	1 535 615
	Equity and shareholders' equity	DA	1 435 030	0%	1 435 030	0%	1 435 030
	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	21 319	0%	21 319	0%	21 319
	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	147 418	0%	147 418	0%	147 418
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-135 628	14,2%	-158 073	14,6%	-185 183
	Profit or loss for the period	DI	34 737	54,8%	22 445	-17,2%	27 110
	Investment grants	DJ	29 974	-50,0%	59 947	-33,3%	89 921
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/08/2012		31/08/2011		31/08/2010
	Total other capital resources (Total II)	DO	1 028 000	0%	1 028 000	0%	1 028 000
	Income from participating securities	DM	1 028 000	0%	1 028 000	0%	1 028 000
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/08/2012		31/08/2011		31/08/2010
	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)

			31/08/2012		31/08/2011		31/08/2010
	Total Liabilities (Total IV)	EC	13 080 558	18,8%	11 011 735	13,5%	9 698 763
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	9 000 882	13,1%	7 958 868	33,9%	5 943 367
	Sundry loans and financial liabilities	DV	64 666	-14,5%	75 666	-25,9%	102 166
	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	2 126 439	8,7%	1 956 692	-29,9%	2 789 379
	Tax and social security liabilities	DY	186 593	39,1%	134 172	-46,8%	252 109
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	1 701 978	92,0%	886 337	44,9%	611 742

Translation loss (V)

		31/08/2012		31/08/2011		31/08/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/08/2012		31/08/2011		31/08/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/08/2012		31/08/2011		31/08/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	10 677 940	16,3%	9 180 079
Of which current bank facilities	EH	0	0%	7 437 657	43,6%	5 180 971

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)

		31/08/2012		31/08/2011		31/08/2010
Operating result (Total I-II)	GG	333 857	251,2%	95 060	-71,7%	336 082

2 - Financial result (V - VI)

		31/08/2012		31/08/2011		31/08/2010
Financial result (Total V-VI)	GV	-321 902	-258,9%	-89 690	73,2%	-334 435

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

		31/08/2012		31/08/2011		31/08/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	11 955	122,6%	5 370	226,0%	1 647

4 - Extraordinary result (VII-VIII)

		31/08/2012		31/08/2011		31/08/2010
Extraordinary result (Total VII-VIII)	HI	36 555	27,8%	28 594	-29,6%	40 597

Profit or loss

		31/08/2012		31/08/2011		31/08/2010
Profit or loss	HN	34 737	54,8%	22 445	-17,2%	27 110

Total Income (I+III+V+VII)

		31/08/2012		31/08/2011		31/08/2010
Total Income (I+III+V+VII)	HL	14 309 087	-29,7%	20 341 184	47,3%	13 805 929

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

		31/08/2012		31/08/2011		31/08/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	14 274 351	-29,7%	20 318 738	47,5%	13 778 819

Operating income (I)

		31/08/2012		31/08/2011		31/08/2010
Total operating income (Total I)	FR	14 065 462	-29,9%	20 056 700	46,9%	13 655 334

Operating income (details)

			31/08/2012		31/08/2011		31/08/2010
	Sale of goods for resale	FC	1 576 892	2,7%	1 536 059	14,1%	1 345 822
	France	FA	1 566 460	2,2%	1 533 118	17,3%	1 307 456
	Export	FB	10 432	254,7%	2 941	-92,3%	38 366
	Sale of goods produced	FF	12 061 739	-32,6%	17 884 421	34,7%	13 276 296
	France	FD	6 594 201	-24,6%	8 748 547	32,1%	6 622 396
	Export	FE	5 467 538	-40,2%	9 135 874	37,3%	6 653 900
	Sale of services	FI	533 434	43,9%	370 713	35,6%	273 429
	France	FG	532 765	45,1%	367 253	35,1%	271 789
	Export	FH	669	-80,7%	3 460	111,0%	1 640
	Net turnover	FL	14 172 065	-28,4%	19 791 193	32,9%	14 895 547
	France	FJ	8 693 426	-18,4%	10 648 918	29,8%	8 201 641
	Export	FK	5 478 639	-40,1%	9 142 275	36,6%	6 693 906
	Stocked production	FM	-128 752	-151,3%	250 786	119,1%	-1 309 600
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	22 122	50,5%	14 703	-78,8%	69 380
	Other income	FQ	27	50,0%	18	157,1%	07

Operating charges (II)

		31/08/2012		31/08/2011		31/08/2010
Total operating charges (Total II)	GF	13 731 605	-31,2%	19 961 640	49,9%	13 319 252

Exploitation charges

		31/08/2012		31/08/2011		31/08/2010
Purchase of goods for resale	FS	1 266 458	-3,1%	1 307 639	21,0%	1 080 836
Change in stocks of goods for resale	FT	-13 555	1,6%	-13 782	63,4%	-37 647
Purchase of raw materials	FU	11 314 713	-28,1%	15 742 723	87,4%	8 401 869
Change in stocks of raw materials	FV	-2 543 561	-87,8%	-1 354 147	-307,6%	652 190
Other external purchases and charges	FW	2 313 428	-20,1%	2 893 859	51,7%	1 908 156
Tax, duty and similar payments	FX	191 479	20,7%	158 643	-8,4%	173 265
Payroll	FY	507 582	-3,9%	528 152	9,3%	483 177
Social security costs	FZ	144 406	-6,9%	155 124	5,8%	146 608

Depreciation

		31/08/2012		31/08/2011		31/08/2010
Depreciation of fixed assets	GA	440 790	4,8%	420 408	3,0%	408 056
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	108 002	0,9%	107 049	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/08/2012		31/08/2011		31/08/2010
Other charges	GE	1 863	-88,3%	15 972	-84,5%	102 742

Operating charges (III-IV)

		31/08/2012		31/08/2011		31/08/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/08/2012		31/08/2011		31/08/2010
	Total financial income (Total V)	GP	205 033	-18,8%	252 625	129,7%	109 998
	Share financial income	GJ	0	0%	0	0%	14
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	32 229	374,9%	6 787	-74,1%	26 186
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	172 804	-29,7%	245 838	193,4%	83 798
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/08/2012		31/08/2011		31/08/2010
	Total financial charge (Total VI)	GU	526 935	53,9%	342 315	-23,0%	444 433
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	255 069	18,1%	215 968	-8,7%	236 575
	Exchange losses	GS	271 866	115,2%	126 347	-39,2%	207 858
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/08/2012		31/08/2011		31/08/2010
	Total extraordinary income (Total VII)	HD	38 592	21,1%	31 859	-21,5%	40 597
	Extraordinary operating income	HA	8 618	357,2%	1 885	-82,3%	10 623
	Extraordinary income from capital transactions	HB	29 974	0%	29 974	0%	29 974
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/08/2012		31/08/2011		31/08/2010
	Total extraordinary charges (Total VIII)	HH	2 037	-37,6%	3 265	0%	0
	Extraordinary operating charges	HE	2 037	-37,6%	3 265	0%	0
	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)

		31/08/2012		31/08/2011		31/08/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/08/2012		31/08/2011		31/08/2010
Tax on profits (Total X)	HK	13 774	19,6%	11 518	-23,9%	15 134

References

		31/08/2012		31/08/2011		31/08/2010
Of which equipment leases	HP	41 463	128,6%	18 138	-74,4%	70 722
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	22 122	50,5%	14 703	30,0%	11 306
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	1 809	541,5%	282	-90,1%	2 855

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/08/2012		31/08/2011		31/08/2010
	Gross value at begin of period	OG	0	0%	0	0%	0
	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	61 285	-49,9%	122 216	256,0%	34 331
	Gross value at the end of period	OL	6 403 955	4,3%	6 138 236	3,1%	5 951 210

Research and development Charge (Total I)

			31/08/2012		31/08/2011		31/08/2010
	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)

			31/08/2012		31/08/2011		31/08/2010
	Gross value at begin of period	KD	2 020	32,5%	1 525	0%	1 525
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	109 770	22075,8%	495	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	111 790	5434,2%	2 020	32,5%	1 525

Tangible fixed assets (Total III)

			31/08/2012		31/08/2011		31/08/2010
	Gross value at begin of period	LN	5 737 615	4,3%	5 503 062	1,6%	5 413 766
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	217 233	-8,3%	237 018	157,2%	92 143
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	2 467	-13,3%	2 847
	Gross value at the end of period	NH	5 954 848	3,8%	5 737 613	4,3%	5 503 062

Financial assets (Total IV)

			31/08/2012		31/08/2011		31/08/2010
	Gross value at begin of period	LQ	398 602	-10,8%	446 621	5,3%	424 085
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	71 730	32,8%	54 020
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	61 285	-48,8%	119 749	280,3%	31 484
	Gross value at the end of period	NK	337 317	-15,4%	398 602	-10,8%	446 621

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

			31/08/2012		31/08/2011		31/08/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreases		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/08/2012		31/08/2011		31/08/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreases		PC	0	0%	0	0%	0
	Decreases by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/08/2012		31/08/2011		31/08/2010
	Reserve for depreciation value at begin of period	PE	1 780	16,8%	1 524	0%	1 524
Increases		PF	239	-6,6%	256	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	2 019	13,4%	1 780	16,8%	1 524

Total fixed assets amotisation (Total III)

			31/08/2012		31/08/2011		31/08/2010
	Reserve for depreciation value at begin of period	QU	3 025 595	16,1%	2 605 443	18,4%	2 200 234
Increases		QV	440 551	4,9%	420 152	3,0%	408 056
Decreases		QW	0	0%	0	0%	2 847
	Decreasess by budget item transfer	QX	3 466 146	14,6%	3 025 595	16,1%	2 605 443

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/08/2012		31/08/2011		31/08/2010
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/08/2012		31/08/2011		31/08/2010
	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)

			31/08/2012		31/08/2011		31/08/2010
	Value at begining of period	7C	0	0%	0	0%	65 698
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	58 074
	Value at the end of period	UD	0	0%	0	0%	7 624

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)

			31/08/2012		31/08/2011		31/08/2010
	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)

			31/08/2012		31/08/2011		31/08/2010
	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)

			31/08/2012		31/08/2011		31/08/2010
	Value at begining of period	7B	0	0%	0	0%	65 695
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	58 074
	Value at the end of period	UA	0	0%	0	0%	7 621

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

		31/08/2012		31/08/2011		31/08/2010
Gross value	VT	5 148 021	0,4%	5 129 052	-2,9%	5 282 852
1 year at most	VU	4 936 369	1,7%	4 856 115	-5,6%	5 143 457
More than one year	VV	211 652	-22,5%	272 937	95,8%	139 395

State of loans

		31/08/2012		31/08/2011		31/08/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	202 061
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	202 061
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	211 652	-22,5%	272 937	95,8%	139 395
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/08/2012		31/08/2011		31/08/2010
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	4 119 265
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	4 936 370	1,7%	4 856 116	871,4%	499 923

Prepaid

		31/08/2012		31/08/2011		31/08/2010
Prepaid	VS	0	0%	0	0%	322 209

State Debt

			31/08/2012		31/08/2011		31/08/2010
	Total debt (gross)	VY	13 080 555	18,8%	11 011 735	13,5%	9 698 761
1 year at most		VZ2	12 753 771	19,4%	10 677 941	16,3%	9 180 078
More than 1 year and 5 years at most		VZ3	273 203	-18,2%	333 794	-35,6%	518 683
More than 5 years		VZ4	53 581	0%	0	0%	0

Details

			31/08/2012		31/08/2011		31/08/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	9 000 878	13,1%	7 958 868	33,9%	5 943 367
1 year at most		VG2	8 674 094	13,8%	7 625 074	40,6%	5 424 684
More than 1 year and 5 years at most		VG3	273 203	-18,2%	333 794	-35,6%	518 683
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	102 166
1 year at most		8A2	0	0%	0	0%	102 166
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	2 126 439	8,7%	1 956 692	-29,9%	2 789 379
1 year at most		8B2	2 126 439	8,7%	1 956 692	-29,9%	2 789 379
More than 1 year and 5 years at most		8B3	2 126 439	8,7%	1 956 692	-29,9%	2 789 379
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	186 594	39,1%	134 172	-46,8%	252 109
1 year at most		8D2	186 594	39,1%	134 172	-46,8%	252 109
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
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	1 766 643	83,6%	962 003	57,3%	611 741
1 year at most		8K2	1 766 643	83,6%	962 003	57,3%	611 741
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

		31/08/2012		31/08/2011		31/08/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/08/2012		31/08/2011		31/08/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/08/2012		31/08/2011		31/08/2010
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/08/2012		31/08/2011		31/08/2010
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/08/2012		31/08/2011		31/08/2010
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/08/2012		31/08/2011		31/08/2010
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/08/2012		31/08/2011		31/08/2010
Average number of employees	YP	0	0%	0	0%	18

Groups and Shareholders

		31/08/2012		31/08/2011		31/08/2010
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Fixed Asset Financing		2,36	133,7%	1,01	0%	1,01	1,18	100%
Global Debt		332 days	66,0%	200 days	-14,5%	234 days	122 days	172,1%
Working Capital Fund overall net		221 days	22000%	1 days	-50,0%	2 days	39 days	466,7%
Financial independence		17,03%	-11,3%	19,20%	-25,7%	25,84%	200,32%	-91,5%
More ratios
Solvability		16,37%	-13,1%	18,84%	-9,9%	20,91%	37,36%	-56,2%
Capacity debt futures		16,62%	-9,8%	18,43%	-22,4%	23,76%	418,12%	-96,0%
Coverage of current assets by net working capital overall		67,49%	16772,5%	0,40%	-59,2%	0,98%	36,49%	85,0%
General Liquidity		0,39	-13,3%	0,45	-19,6%	0,56	0,62	-37,1%
Restricted Liquidity		0,39	-18,8%	0,48	-15,8%	0,57	0,67	-41,8%

Management or rotation

		31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Need background in operating working capital		218 days	66,4%	131 days	12,0%	117 days	33 days	560,6%
Treasury		2 days	101,5%	-131 days	-7,4%	-122 days	4 days	-50,0%
Inventory turnover of goods		19 days	35,7%	14 days	7,7%	13 days	10 days	90,0%
Average length of credit granted to customers		97 days	44,8%	67 days	-33,0%	100 days	50 days	94,0%
Average length of credit obtained suppliers		62 days	63,2%	38 days	-54,8%	84 days	57 days	8,8%
More ratios
Inventory turnover of raw materials in industrial enterprises		198 days	132,9%	85 days	-15,0%	100 days	25 days	692,0%
Inventory turnover of intermediate and finished products in the industrial enterprise		238 days	-31,0%	345 days	27,3%	271 days	237,50 days	0,2%
Rotation tangible assets		237,99%	-31,0%	344,94%	27,4%	270,68%	237,99%	0%

Profitability of the business

		31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Margin trading		2,29%	87,7%	1,22%	-39,9%	2,03	0,88%	160,2%
Profitability of the business		6,08	93,0%	3,15	-39,7%	5,22	5,91%	2,9%
Net profit		0,25%	127,3%	0,11%	-38,9%	0,18%	2,10%	-88,1%
More ratios
Growth rate of turnover (excluding VAT)		-28,39%	-186,4%	32,87%	326,3%	7,71%	4,29%	-761,8%
Rates integration		12,04%	62,5%	7,41%	-30,2%	10,61%	18%	-33,1%
Rate leasing furniture		0,29%	222,2%	0,09%	-80,9%	0,47%	0%	0%
Work Factor		38,22%	-18,0%	46,62%	17,0%	39,85%	46,45%	-17,7%
Weight interests		3,72	115,0%	1,73%	-41,9%	2,98%	0,42%	785,7%

Return on capital

		31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Cash flow from the overall profitability		3,14%	50,2%	2,09%	-23,2%	2,72%	4,76%	-34,0%
Rates of economic profitability		7%	16,7%	6%	-33,3%	9%	16%	-56,2%
Financial profitability		2560850%	0,2%	2556086%	-0,3%	2563615%	2350836%	8,9%
Return on investment		4,83%	40,4%	3,44%	-37,2%	5,48%	7,19%	-32,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/08/2012		31/08/2011		31/08/2010	Sector Median 2012
Turnover	14 172 065	-28,4%	19 791 193	32,9%	14 895 547	6 456 059 €	119,5%

Sales of goods	1 576 892	2,7%	1 536 059	14,1%	1 345 822
- Purchase of goods	1 266 458	-3,1%	1 307 639	21,0%	1 080 836
+/- Stock of goods variation	-13 555	1,6%	-13 782	63,4%	-37 647
Trading margin	323 989 €	33,8%	242 202 €	-20,0%	302 633 €	21 583 €	1401,1%
	2,29 % CA	87,7%	1,22 % CA	-39,9%	2,03 % CA	0,88 % CA	160,2%

Sale of goods produced	12 595 173	-31,0%	18 255 134	34,7%	13 549 725
+/- Stocked production	-128 752	-151,3%	250 786	119,1%	-1 309 600
+ Self-constructed assets	0	0%	0	0%	0
Period production	12 466 421 €	-32,6%	18 505 920 €	51,2%	12 240 125 €	2 259 686 €	451,7%
	87,96 % CA	-5,9%	93,51 % CA	13,8%	82,17 % CA	99,01 % CA	-11,2%

Trading margin	323 989	33,8%	242 202	-20,0%	302 633	21 583	1401,1%
+ Period Production	12 466 421	-32,6%	18 505 920	51,2%	12 240 125	2 259 686	451,7%
- Purchase of raw materials	11 314 713	-28,1%	15 742 723	87,4%	8 401 869
+/- Change in stocks of raw materiels	-2 543 561	-87,8%	-1 354 147	-307,6%	652 190
- Other external purchases and charges	2 313 428	-20,1%	2 893 859	51,7%	1 908 156
Added value	1 705 830 €	16,4%	1 465 687 €	-7,3%	1 580 543 €	998 023 €	70,9%
	12,04 % CA	62,5%	7,41 % CA	-30,2%	10,61 % CA	18 % CA	-33,1%

Added value	1 705 830 €	16,4%	1 465 687 €	-7,3%	1 580 543 €	998 023 €	70,9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	191 479	20,7%	158 643	-8,4%	173 265
- Personal charges	651 988	-4,6%	683 276	8,5%	629 785
Gross operating surplus	862 363 €	38,3%	623 768 €	-19,8%	777 493 €	229 831 €	275,2%
	6,08 % CA	93,0%	3,15 % CA	-39,7%	5,22 % CA	5,91 % CA	2,9%

Gross operating surplus	862 363 €	38,3%	623 768 €	-19,8%	777 493 €	229 831 €	275,2%
+ Release of reserves and provisions	22 122	50,5%	14 703	-78,8%	69 380
+ Other operating income	27	50,0%	18	157,1%	07
- Depreciation/Amortisation	548 792	4,0%	527 457	29,3%	408 056
- Other charges	1 863	-88,3%	15 972	-84,5%	102 742
Operating result	333 857 €	251,2%	95 060 €	-71,7%	336 082 €	132 454 €	152,1%
	2,36 % CA	391,7%	0,48 % CA	-78,8%	2,26 % CA	3,90 % CA	-39,5%

Operating result	333 857 €	251,2%	95 060 €	-71,7%	336 082 €	132 454 €	152,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	205 033	-18,8%	252 625	129,7%	109 998
- Financial charges	526 935	53,9%	342 315	-23,0%	444 433
Pre-tax result	11 955 €	122,6%	5 370 €	226,0%	1 647 €	108 949 €	-89,0%
	0,08 % CA	166,7%	0,03 % CA	200%	0,01 % CA	2,75 % CA	-97,1%

Extraordinary income	38 592	21,1%	31 859	-21,5%	40 597	9 042	326,8%
- Extraordinary charges	2 037	-37,6%	3 265	0%	0
Extraordinary result	36 555 €	27,8%	28 594 €	-29,6%	40 597 €	0 €	0%
	0,26 % CA	85,7%	0,14 % CA	-48,1%	0 % CA	0 % CA	0%

Pre-tax result	11 955 €	122,6%	5 370 €	226,0%	1 647 €	108 949 €	-89,0%
Extraordinary result	36 555 €	27,8%	28 594 €	-29,6%	40 597 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	13 774	19,6%	11 518	-23,9%	15 134
Net result	34 736 €	54,8%	22 446 €	-17,2%	27 110 €	95 314 €	-63,6%
	0,25 % CA	127,3%	0,11 % CA	-38,9%	0,18 % CA	2,11 % CA	-88,2%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Establishment details

Activity (APE)	Other activities of grain mill (1061B)	Business Pages FT®
Postal Address	SA LES SILOS DE TOURTOULEN DOM DE TOURTOULEN GIRAUD ET TOURTOULEN 13200 ARLES	Trading Address	GIRAUD ET TOURTOULEN 13200 ARLES
Telephone	04 90 97 21 24
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	07/1989	Reason for formation	Formation
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	2	Area	98
City	ARLES	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> SA LES SILOS DE TOURTOULEN <<<  - Autres activités du travail des grains (1061B)  in ARLES  (13200)
Secondary establishments

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

20 to 49 employees

Company workforce

20 to 49 employees

Rating and Limit history

Date	Rating	Limit	International Score	Description
15/10/2013	54	50,000 €	B	Low Risk

Linkages

No Linkages information available for the company.

Event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
02/04/2013	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE TARASCON-SUR-RHÔNE 1643 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2012.
02/04/2012	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE TARASCON-SUR-RHÔNE 1570 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2011.
22/03/2011	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE TARASCON-SUR-RHÔNE 972 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2010.
12/04/2010	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE TARASCON-SUR-RHONE 1253 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2009.
18/03/2009	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE TARASCON-SUR-RHONE 1243 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen, 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2008.
12/03/2008	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE D'ARLES 1496 - 351422829 RCS. SA LES SILOS DE TOURTOULEN. Forme : Société anonyme. Adresse : Domaine de Tourtoulen, 13200 Arles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2007.
18/10/2007	Bodacc B	Modifications et mutations diverses
334 - RCS Arles B 351 422 829. RC 89-B 94. S.A. LES SILOS DE TOURTOULEN. Forme : S.A. Capital : 1 435 030 euros. Adresse du siège social : Domaine de Tourtoulen,, 13200 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 2 août 2007.
29/04/2007	Bodacc C	Avis de dépôt des comptes
1155 - RCS Arles B 351 422 829. RC 89-B 94. SA LES SILOS DE TOURTOULEN. Forme: S.A. Adresse du siège social: domaine de Tourtoulen,13200 Arles. Comptes annuels et rapports de l'exercice clos le: 31 août 2006.
16/04/2006	Bodacc B	Modifications et mutations diverses
0421 - RCS Arles B 351 422 829. RC 89-B 94. S.A. LES SILOS DE TOURTOULEN. Forme : S.A. Adresse du siège social : Domaine de Tourtoulen,, 13200 Commentaires : modification survenue sur l'administration. Administration : président directeur général et administrateur : LACROTTE (Florian) (Nom d'usage : LACROTTE). Directeur général délégué et administrateur : MANDROLINI (Sylvain) (Nom d'usage : MANDROLINI). Administrateur : MANDROLINI (Christine, Claude) (Nom d'usage : MAZET). Commissaire aux comptes titulaire démissionnaire : BALVAY (Gérard). Nouveau commissaire aux comptes titulaire : CONCEPT EXPERTS ET COMMISSAIRES, représentée par BOUSQUET (Thierry) (Nom d'usage : BOUSQUET). Commissaire aux comptes suppléant : LAQUET (Robert) (Nom d'usage : LAQUET). Date d'effet : 27 février 2006.
31/03/2006	Bodacc C	Avis de dépôt des comptes
841 - RCS Arles B 351 422 829. RC 89-B 94. SA LES SILOS DE TOURTOULEN. Forme: S.A. Adresse du siège social: domaine de Tourtoulen,13200 Arles. Comptes annuels et rapports de l'exercice clos le: 31 août 2005.
03/04/2005	Bodacc C	Avis de dépôt des comptes
493 - RCS Arles B 351 422 829. RC 89-B 94. SA LES SILOS DE TOURTOULEN. Forme: SOCIETE ANONYME DE DROIT COMMUN. Adresse du siège social: domaine de Tourtoulen,13200 Arles. Comptes annuels et rapports de l'exercice clos le: 31 août 2004.
04/07/2004	Bodacc B	Modifications et mutations diverses
RCS Arles B 351422829 RC 89-B 94 S.A. LES SILOS DE TOURTOULEN. Forme : société de droit étranger. Capital : 1 035 300 euros. Adresse du siège social : Domaine de Tourtoulen, 13200 Arles. Commentaires : modification survenue sur le capital ( augmentation) et l'administration. Administration : P.-D.G. et administrateur : LACROTTE (Florian) ( Nom d'usage : LACROTTE). Directeur général délégué : MANDROLINI (Sylvain) ( Nom d'usage : MANDROLINI). Administrateur : MANDROLINI (Christine, Claude) ( Nom d'usage : MAZET). Commissaire aux comptes titulaire : BALVAY (Gérard) ( Nom d'usage : BALVAY) . Commissaire aux comptes suppléant : LAQUET (Robert) ( Nom d'usage : LAQUET). Date d'effet : 24 mai 2004.
11/06/2004	Bodacc B	Modifications et mutations diverses
RCS Arles B 351422829 RC 89-B 94 S.A. LES SILOS DE TOURTOULEN. Forme : société de droit étranger. Capital : 150 000 euros. Adresse du siège social : Domaine de Tourtoulen, 13200 Arles. Commentaires : modification survenue sur l' administration. Administration : président du conseil d'administration et administrateur : LACROTTE (Florian) ( Nom d'usage : LACROTTE). Directeur général et administrateur : MANDROLINI ( Sylvain) ( Nom d'usage : MANDROLINI). Administrateur : MANDROLINI (Christine, Claude) ( Nom d'usage : MAZET). Commissaire aux comptes titulaire : BALVAY (Gérard) ( Nom d'usage : BALVAY) . Commissaire aux comptes suppléant : LAQUET (Robert) ( Nom d'usage : LAQUET). Date d'effet : 31 octobre 2003.
04/10/2000	Bodacc B	Modifications et mutations diverses
RCS Arles B 351422829 RC 89-B 94 S.A. LES SILOS DE TOURTOULEN. Forme : société de droit étranger. Capital : 150 000 euros. Adresse du siège social : Domaine de Tourtoulen, 13200 Arles. Commentaires : modification survenue sur l' administration. Administration : président du conseil d'administration et administrateur : LACROTTE (Florian) ( Nom d'usage : LACROTTE). Directeur général et administrateur : MANDROLINI ( Sylvain) ( Nom d'usage : MANDROLINI). Administrateur : MANDROLINI (Christine, Claude) ( Nom d'usage : MAZET). Commissaire aux comptes titulaire : BALVAY (Gérard) ( Nom d'usage : BALVAY) . Commissaire aux comptes suppléant : GAYON (Jean-Luc) ( Nom d'usage : GAYON). Date d'effet : 28 juillet 2000.
03/05/2000	Bodacc B	Modifications et mutations diverses
RCS Arles B 351422829 RC 89-B 94 S.A. LES SILOS DE TOURTOULEN. Forme : société de droit étranger. Adresse du siège social : Domaine de Tourtoulen, 13200 Arles. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : DIJOL (Maurice) ( Nom d'usage : DIJOL). Directeur général et administrateur : LACROTTE (Florian) ( Nom d'usage : LACROTTE). Administrateurs : MANDROLINI (Sylvain) ( Nom d'usage : MANDROLINI) MANDROLINI (Christine, Claude) ( Nom d'usage : MAZET) CUISSARD (Eddy, Roger) ( Nom d' usage : CUISSARD). Commissaire aux comptes titulaire : BALVAY (Gérard) ( Nom d'usage : BALVAY). Commissaire aux comptes suppléant : GAYON (Jean, Luc) ( Nom d'usage : GAYON). Date d'effet : 28 février 2000.
21/07/1999	Bodacc B	Modifications et mutations diverses
RCS Arles B 351422829 RC 89-B 94 S.A. LES SILOS DE TOURTOULEN. Forme : société de droit étranger. Capital : 150 000 euros. Adresse du siège social : Domaine de Tourtoulen, 13200 Arles. Commentaires : modification survenue sur le capital ( augmentation). Date d'effet : 21 mai 1999.

Company events history

Date	Description
20/10/2013	Update Rating
15/10/2013	Update Limit
02/04/2013	Bodacc C : Deposit accounts notice
29/03/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	Update of Company Activity
31/12/2012	Update of Company Workforce
31/12/2012	Modification of Company Activity
31/08/2012	New accounts available
18/04/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/04/2012	Bodacc C : Deposit accounts notice
31/08/2011	New accounts available
22/03/2011	Bodacc C : Deposit accounts notice
31/08/2010	New accounts available
12/04/2010	Bodacc C : Deposit accounts notice
31/08/2009	New accounts available
18/03/2009	Bodacc C : Deposit accounts notice
31/08/2008	New accounts available
12/03/2008	Bodacc C : Deposit accounts notice
04/09/2007	Audit or Management Report
04/09/2007	Capital increase
04/09/2007	Private document
04/09/2007	Minutes of general meeting of shareholders
04/09/2007	Updated articles of association
31/08/2007	New accounts available
02/08/2007	Other modification of Establishment
31/08/2006	New accounts available
06/03/2006	Private document
06/03/2006	Appointment/resignation of company officers
06/03/2006	Minutes of general meeting of shareholders
06/03/2006	New auditor
31/08/2005	New accounts available
31/08/2004	New accounts available
11/06/2004	Capital increase
11/06/2004	Augmentation de Capital
11/06/2004	Nomination/démission des organes de gestion
11/06/2004	Updated articles of association
11/06/2004	Statuts mis à jour
11/06/2004	PV du Conseil d'Administration
11/06/2004	Minutes of Board meeting
11/06/2004	PV d'Assemblée
11/06/2004	Minutes of general meeting of shareholders
11/06/2004	Appointment/resignation of company officers
11/06/2004	Private document
11/06/2004	Acte sous seing privé
13/05/2004	Rapport des Commissaires ou du Gérant
13/05/2004	Acte sous seing privé
03/05/2004	Changement de Commissaire aux Comptes
03/05/2004	Acte sous seing privé
03/05/2004	Nomination/démission des organes de gestion
03/05/2004	PV d'Assemblée
31/08/2003	New accounts available
11/09/2000	Changement de Président (PDG, PCA)
11/09/2000	Modification du Conseil d'Administration
11/09/2000	Acte sous seing privé
11/09/2000	Nomination/démission des organes de gestion
11/09/2000	PV du Conseil d'Administration
10/04/2000	Nomination/démission des organes de gestion
10/04/2000	Acte sous seing privé
10/04/2000	PV d'Assemblée
23/06/1999	Statuts mis à jour
23/06/1999	Acte sous seing privé
23/06/1999	Augmentation de Capital
23/06/1999	PV d'Assemblée
30/08/1993	Statuts mis à jour
30/08/1993	Changement de Forme Juridique sans changement de catégorie
30/08/1993	PV d'Assemblée
30/08/1993	Changement de dénomination sociale
30/08/1993	Déclaration de conformité
23/06/1993	PV d'Assemblée
23/06/1993	Déclaration de conformité
23/06/1993	Statuts mis à jour

NOTES & COMMENTS

Commentary

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

	The creditor days are 54.77
	Low risk workforce size
	The company has 5 directors
	Industry code with low risk rating
	Department code with low risk rating
	The risk provisions are 0 €
	The total assets are 15,641,404 €
	The liabilities are 13,080,558 €
	The net current assets are 12,705,615 €
	The net turnover is 14,172,065 €
	The shareholder's equity is 1,532,850 €
	The ratio total assets to total liabilities is 1,2
	The return on total assets employed is 0,31
	The deviation of tangible fixed assets over the last two accounting periods is 91.77 %
	The deviation in the gearing percentage over the last two accounting periods is 112.48 %
	The pre-tax profit is 48,511 €
	The sales to current assets ratio is 1,12
	The stock to turnover ratio is 55.86

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.57
UK Pound	1	Rs.100.63
Euro	1	Rs.84.62

INFORMATION DETAILS

Report Prepared by :

NIT

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.