MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	CAPSUGEL FRANCE
Registered Office :	10 Rue Timken 68000 Colmar
Country :	France
Financials (as on) :	31.08.2011
Date of Incorporation :	January 1970
Com. Reg. No.:	RCS Colmar 7 612 050 518
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Other manufacturing activities
No. of Employees :	250 to 499 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 :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

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

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

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

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

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

Company information

Name

CAPSUGEL FRANCE

SIRET

612 050 518 00036

Personal comment

company summary

EUR VAT Number		FR57612050518
Activity (APE)	Other manufacturing activities n.e.c. (3299Z)		Legal form	Simplified Joint Stock Company with Single Associate
Phone	03 89 20 57 10		RCS Registration	RCS Colmar 7 612 050 518
Fax	03 89 41 48 11		Share capital	1,280,000 Euros
Address	CAPSUGEL FRANCE 10 RUE TIMKEN 68000 COLMAR		Incorporated Date	01/1970
Nationality	France		Status	Economically active

This company is not under monitoring

Ultimate Holding Company
Company Name	Company number
KOHLBERG KRAVIS ROBERTS & CO.	US44637376

Current Directors

6

Trading to Date	08/31/2011	11/30/2010	11/30/2008
Turnover	79,081,578 €	99,666,745 €	93,860,333 €
Gross Operating Surplus	23,34 % Turnover	23,20 % Turnover	25,49 % Turnover
Shareholders’ equity	61,677,402 €	106,090,583 €	84,090,793 €
Net result	8,123,145 €	10,662,732 €	12,001,622 €
Employees	250 to 499 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Autres activités manufacturières n.c.a.  (3299Z)
RCS Registration	RCS Colmar 7 612 050 518	Share capital	1,280,000 Euros
Registration Court	Colmar (68)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	19 7 0B001	EUR VAT Number	FR57612050518
Incorporation Date	01/1970	Formation Date	01/1970
Deregistration Date		Last account Date	31/08/2011
Nationality	France

Establishment details

Activity (APE)	Autres activités manufacturières n.c.a.  (3299Z)	Business Pages FT®
Postal Address	CAPSUGEL FRANCE 10 RUE TIMKEN 68000 COLMAR	Trading Address	10 RUE TIMKEN 68000 COLMAR
Telephone	03 89 20 57 10
Fax	03 89 41 48 11

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

Department	Haut-Rhin (68)	Region	Alsace
District	2	Area	98
City	COLMAR	Size of urban area

Other establishments

Branches	2 branch entities in this company
Head office	> CAPSUGEL FRANCE <<<  - Autres activités manufacturières n.c.a. (3299Z)  in COLMAR  (68000)
Secondary establishments	>  CAPSUGEL FRANCE  - Autres activités manufacturières n.c.a. (3299Z)  in ILLKIRCH GRAFFENSTADEN  (67400) >  CAPSUGEL FRANCE  - Autres activités manufacturières n.c.a. (3299Z)  in LABEGE  (31670)

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

250 to 499 employees

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/08/2011	30/11/2010	30/11/2008
Account period (month)	09	12	12
Account Type	Normal	Normal	Normal
Date of capture	19/07/2012	27/07/2011	-
Activity Code	3299Z	3299Z	3299Z
Employees	0	0	347

Active account

Annual Accounts	31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	39 675 024	-2,0%	40 474 462	39,2%	29 086 311	22 360,50	177333,5%
- Intangible assets	2 175 718	-7,1%	2 341 844	3284,4%	69 196	300,50	723932,6%
- Tangible assets	36 634 991	-1,7%	37 268 934	31,7%	28 292 083	7 779	470847,3%
- Financial assets	864 315	0,1%	863 684	19,1%	725 028	447	193259,1%
Net current assets	38 533 000	-57,7%	91 002 472	12,7%	80 765 961	94 389,50	40723,4%
- Stocks	13 107 176	-1,5%	13 308 737	87,8%	7 087 234	20 039,50	65306,7%
- Advanced payments	32 291	-57,7%	132 073	591,0%	19 112	0	0%
- Receivables	20 820 804	-72,9%	76 893 991	4,6%	73 515 348	28 225	73667,2%
- Securities and cash	4 572 729	584,9%	667 671	362,8%	144 264	14 309	31857,0%
- Prepaid expenses	-	-	-	-	-	130	-
Accounts of regularization	7 250	-93,8%	116 795	1428,7%	7 640	0	0%
Total Assets	78 215 274	-40,6%	131 593 733	19,8%	109 859 916	134 144,50	58206,7%

Passive Account

Annual Accounts	31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Shareholders' equity	61 677 402	-41,9%	106 090 583	26,2%	84 090 793	43 458	141824,2%
Share capital	1 280 000	0%	1 280 000	0%	1 280 000	10 000	12700%
Other capital resources	0	0%	0	0%	90 000	0	0%
Risk Provisions	956 179	64,7%	580 643	6,7%	544 359	0	0%
Liabilities	15 574 438	-37,4%	24 896 627	-0,6%	25 049 574	76 440	20274,7%
- Financial liabilities	0	0%	4 838 045	41257,9%	11 698	16 354	0%
- Advanced payments received	123 357	-18,0%	150 463	0%	0	0	0%
- Trade account payables	6 249 708	-48,9%	12 222 047	12,1%	10 905 864	13 520	46125,7%
- Tax and social liabilities	7 029 692	6,0%	6 630 776	-49,0%	12 991 375	29 807,50	23483,6%
- Other debts and fixed assets liabilities	2 178 935	101,5%	1 081 169	-11,8%	1 225 823	4 967	43768,2%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	78 215 273	-40,6%	131 593 733	19,8%	109 859 916	134 144,50	58206,7%

Results

Annual Accounts	31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Sales of Goods	79 577 084	-21,9%	101 898 697	5,0%	97 059 201	182 157,50	43585,9%
Net turnover	79 081 578	-20,7%	99 666 745	6,2%	93 860 333	176 187	44785,0%
- of which net export turnover	56 207 367	-14,7%	65 867 512	15,2%	57 157 445	0	0%
Operating charges	66 264 811	-21,4%	84 290 830	7,6%	78 309 488	173 577,50	38075,9%
Operating profit/loss	13 312 273	-24,4%	17 607 867	-6,1%	18 749 712	4 658,50	285663,1%
Financial income	407 186	54,6%	263 401	-87,1%	2 037 225	03	13572766,7%
Financial charges	142 214	-39,9%	236 656	89,9%	124 649	603,50	23464,9%
Financial profit/loss	264 972	890,7%	26 745	-98,6%	1 912 575	-299,50	88571,5%
Pretax net operating income	13 577 245	-23,0%	17 634 612	-14,7%	20 662 288	3 196	424719,9%
Extraordinary income	654 102	-18,6%	803 770	54,3%	520 861	0	0%
Extraordinary charges	1 372 890	-27,1%	1 883 494	-12,2%	2 144 045	60	2288050,0%
Extraordinary profit/loss	-718 788	33,4%	-1 079 724	33,5%	-1 623 183	0	0%
Net result	8 123 145	-23,8%	10 662 732	-11,2%	12 001 622	4 098,50	198098,0%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/08/2011	30/11/2010	30/11/2008
Months	09	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/08/2011		30/11/2010		30/11/2008
	Grand Total (I to VI)	Net	78 215 274	-40,6%	131 593 733	19,8%	109 859 916
	Gross	CO	132 752 863	-27,7%	183 590 941	18,0%	155 646 418
	Amortisation	1A	54 537 589	4,9%	51 997 212	13,6%	45 786 502

Non declared distributed capital (I)

		31/08/2011		30/11/2010		30/11/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/08/2011		30/11/2010		30/11/2008
	Total Active fixed asset (II)	Net	39 675 024	-2,0%	40 474 462	39,2%	29 086 311
	Gross	BJ	92 581 504	2,1%	90 694 984	23,7%	73 303 550
	Amortisation	BK	52 906 480	5,3%	50 220 522	13,6%	44 217 239

Intangilble fixed assets

			31/08/2011		30/11/2010		30/11/2008
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	2 175 718	-7,1%	2 341 844	3284,4%	69 196
	Gross	AF	3 405 157	0%	3 405 157	249,0%	975 744
	Amortisation	AG	1 229 439	15,6%	1 063 313	17,3%	906 548
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	2 175 718	-7,1%	2 341 844	3284,4%	69 196

Tangilble fixed assets

			31/08/2011		30/11/2010		30/11/2008
	Lands	Net	356 003	-2,9%	366 662	7,8%	340 174
	Gross	AN	523 430	0%	523 430	10,8%	472 269
	Amortisation	AO	167 427	6,8%	156 768	18,7%	132 095
	Buildings	Net	13 538 844	-0,8%	13 645 205	16,2%	11 740 069
	Gross	AP	23 462 184	2,2%	22 962 704	17,7%	19 512 380
	Amortisation	AQ	9 923 340	6,5%	9 317 499	19,9%	7 772 311
	Plant	Net	19 372 408	0,0%	19 380 840	40,3%	13 811 873
	Gross	AR	58 703 198	3,0%	56 976 447	21,1%	47 051 669
	Amortisation	AS	39 330 790	4,6%	37 595 607	13,1%	33 239 796
	Other tangible fixed assets	Net	818 176	-11,3%	922 449	-6,1%	981 919
	Gross	AT	3 073 660	2,1%	3 009 784	-4,4%	3 148 408
	Amortisation	AU	2 255 484	8,1%	2 087 335	-3,7%	2 166 489
	Fixed assets in construction	Net	2 549 560	-13,7%	2 953 778	110,3%	1 404 243
	Gross	AV	2 549 560	-13,7%	2 953 778	110,3%	1 404 243
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	13 805
	Gross	AX	0	0%	0	0%	13 805
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	36 634 991		37 268 934		28 292 083

Financial assets

			31/08/2011		30/11/2010		30/11/2008
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	794 206	0%	794 206	20,8%	657 198
	Gross	BF	794 206	0%	794 206	0%	657 198
	Amortisation	BG	0		0		0
	Other financial assets	Net	70 109	0,9%	69 478	2,4%	67 830
	Gross	BH	70 109	0,9%	69 478	2,4%	67 830
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		864 315		863 684		725 028

Current Assets (III)

			31/08/2011		30/11/2010		30/11/2008
	Total Assets	Net	38 533 000	-57,7%	91 002 472	12,7%	80 765 961
	Gross	CJ	40 164 109	-56,7%	92 779 162	12,7%	82 335 223
	Amortisation	CK	1 631 109	-8,2%	1 776 690	13,2%	1 569 262

Stocks

			31/08/2011		30/11/2010		30/11/2008
	Raw materials	Net	5 526 617	19,7%	4 615 811	27,6%	3 618 817
	Gross	BL	5 817 318	18,9%	4 893 657	23,3%	3 968 537
	Amortisation	BM	290 701	4,6%	277 846	-20,6%	349 720
	Work in progress (goods)	Net	368 471	7,8%	341 773	113,1%	160 381
	Gross	BN	368 471	7,8%	341 773	113,1%	160 381
	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	6 990 265	-12,2%	7 961 413	180,1%	2 842 209
	Gross	BR	7 770 816	-13,6%	8 991 385	156,2%	3 509 689
	Amortisation	BS	780 551	-24,2%	1 029 972	54,3%	667 480
	Goods for resale	Net	221 823	-43,1%	389 740	-16,3%	465 827
	Gross	BT	221 823	-43,1%	389 740	-16,3%	465 827
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	13 107 176	-1,5%	13 308 737	87,8%	7 087 234

Advance payments to suppliers

			31/08/2011		30/11/2010		30/11/2008
	Advance payments to suppliers	Net	32 291	-75,6%	132 073	591,0%	19 112
	Gross	BV	32 291	-75,6%	132 073	591,0%	19 112
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/08/2011		30/11/2010		30/11/2008
	Trade accounts receivable	Net	19 300 890	-26,0%	26 092 088	12,0%	23 287 344
	Gross	BX	19 860 747	-25,2%	26 560 960	11,4%	23 839 406
	Amortisation	BY	559 857	19,4%	468 872	-15,1%	552 062
	Other debtors	Net	1 128 340	-97,8%	50 411 851	1,1%	49 838 846
	Gross	BZ	1 128 340	-97,8%	50 411 851	1,1%	49 838 846
	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	20 429 230	-73,3%	76 503 939	4,6%	73 126 190

Divers

			31/08/2011		30/11/2010		30/11/2008
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	4 572 729	584,9%	667 671	362,8%	144 264
	Gross	CF	4 572 729	584,9%	667 671	362,8%	144 264
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	4 572 729	584,9%	667 671	362,8%	144 264

Prepaid expenses

			31/08/2011		30/11/2010		30/11/2008
	Prepaid expenses	Net	391 574	0,4%	390 052	0,2%	389 158
	Gross	CH	391 574	0,4%	390 052	0,2%	389 158
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/08/2011		30/11/2010		30/11/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	7 250	-93,8%	116 795	1428,7%	7 640
Gross		7 250	-93,8%	116 795	-	-

References

		31/08/2011		30/11/2010		30/11/2008
Due within one year	CP	0	0%	0	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)

		31/08/2011		30/11/2010		30/11/2008
Grand Total (I to V)	EE	78 215 273	-40,6%	131 593 733	19,8%	109 859 916

Shareholder Equity (I)

			31/08/2011		30/11/2010		30/11/2008
	Total shareholders' equity (Total I)	DL	61 677 402	-41,9%	106 090 583	26,2%	84 090 793
	Equity and shareholders' equity	DA	1 280 000	0%	1 280 000	0%	1 280 000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	128 000	0%	128 000	0%	128 000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	14 080	0%	14 080	0%	14 080
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	41 938 960	-50,4%	84 576 227	33,3%	63 457 156
	Profit or loss for the period	DI	8 123 145	-23,8%	10 662 732	-11,2%	12 001 622
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	10 193 217	8,1%	9 429 544	30,8%	7 209 933

Other capital resources (II)

			31/08/2011		30/11/2010		30/11/2008
	Total other capital resources (Total II)	DO	0	0%	0	0%	90 000
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	90 000

Provisions for risks and charges (III)

			31/08/2011		30/11/2010		30/11/2008
	Total provisions for risks and charges (Total III)	DR	956 179	64,7%	580 643	6,7%	544 359
	Risk provisions	DP	800 196	88,0%	425 639	938,9%	40 972
	Reserves for charges	DQ	155 983	0,6%	155 004	-69,2%	503 387

Liabilities (IV)

			31/08/2011		30/11/2010		30/11/2008
	Total Liabilities (Total IV)	EC	15 574 438	-37,4%	24 896 627	-0,6%	25 049 574
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	11 698
	Sundry loans and financial liabilities	DV	0	0%	4 838 045	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	123 357	-18,0%	150 463	0%	0
	Trade accounts payables	DX	6 249 708	-48,9%	12 222 047	12,1%	10 905 864
	Tax and social security liabilities	DY	7 029 692	6,0%	6 630 776	-49,0%	12 991 375
	Fixed asset liabilities	DZ	460 106	-16,9%	553 802	79,1%	309 221
	Other debts	EA	1 711 575	241,3%	501 494	-39,7%	831 414

Translation loss (V)

		31/08/2011		30/11/2010		30/11/2008
Translation loss (Total V)	ED	7 254	-72,0%	25 873	-69,6%	85 188

Equalization accounts

		31/08/2011		30/11/2010		30/11/2008
Deferred income	EB	0	0%	0	0%	0

References

		31/08/2011		30/11/2010		30/11/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	15 574 438	0%	0	0%	25 049 573
Of which current bank facilities	EH	0	0%	0	0%	11 698

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)

		31/08/2011		30/11/2010		30/11/2008
Operating result (Total I-II)	GG	13 312 273	-24,4%	17 607 867	-6,1%	18 749 712

2 - Financial result (V - VI)

		31/08/2011		30/11/2010		30/11/2008
Financial result (Total V-VI)	GV	264 972	890,7%	26 745	-98,6%	1 912 575

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

		31/08/2011		30/11/2010		30/11/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	13 577 245	-23,0%	17 634 612	-14,7%	20 662 288

4 - Extraordinary result (VII-VIII)

		31/08/2011		30/11/2010		30/11/2008
Extraordinary result (Total VII-VIII)	HI	-718 788	33,4%	-1 079 724	33,5%	-1 623 183

Profit or loss

		31/08/2011		30/11/2010		30/11/2008
Profit or loss	HN	8 123 145	-23,8%	10 662 732	-11,2%	12 001 622

Total Income (I+III+V+VII)

		31/08/2011		30/11/2010		30/11/2008
Total Income (I+III+V+VII)	HL	80 638 372	-21,7%	102 965 868	3,4%	99 617 288

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

		31/08/2011		30/11/2010		30/11/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	72 515 222	-21,4%	92 303 131	5,4%	87 615 666

Operating income (I)

		31/08/2011		30/11/2010		30/11/2008
Total operating income (Total I)	FR	79 577 084	-21,9%	101 898 697	5,0%	97 059 201

Operating income (details)

			31/08/2011		30/11/2010		30/11/2008
	Sale of goods for resale	FC	19 557 237	-18,4%	23 971 508	4,5%	22 944 095
	France	FA	4 213 676	-32,2%	6 218 542	-21,0%	7 869 740
	Export	FB	15 343 561	-13,6%	17 752 966	17,8%	15 074 355
	Sale of goods produced	FF	50 453 847	-21,2%	64 019 950	8,2%	59 164 121
	France	FD	18 329 984	-31,2%	26 636 713	-4,5%	27 896 398
	Export	FE	32 123 863	-14,1%	37 383 237	19,6%	31 267 723
	Sale of services	FI	9 070 494	-22,3%	11 675 287	-0,7%	11 752 115
	France	FG	330 551	-65,0%	943 978	0,8%	936 748
	Export	FH	8 739 943	-18,6%	10 731 309	-0,8%	10 815 367
	Net turnover	FL	79 081 578	-20,7%	99 666 745	6,2%	93 860 333
	France	FJ	22 874 211	-32,3%	33 799 233	-7,9%	36 702 886
	Export	FK	56 207 367	-14,7%	65 867 512	15,2%	57 157 445
	Stocked production	FM	-1 364 222	-649,2%	-182 100	-114,6%	1 247 944
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	61 908	-32,0%	91 083	-16,9%	109 584
	Release of reserves and provisions	FP	1 787 308	-22,6%	2 308 055	25,4%	1 840 786
	Other income	FQ	10 512	-29,5%	14 914	2601,8%	552

Operating charges (II)

		31/08/2011		30/11/2010		30/11/2008
Total operating charges (Total II)	GF	66 264 811	-21,4%	84 290 830	7,6%	78 309 488

Exploitation charges

		31/08/2011		30/11/2010		30/11/2008
Purchase of goods for resale	FS	14 295 102	-23,0%	18 574 447	15,6%	16 071 632
Change in stocks of goods for resale	FT	-5 925	-140,2%	14 749	108,5%	-174 348
Purchase of raw materials	FU	12 954 545	-15,6%	15 354 142	11,4%	13 786 559
Change in stocks of raw materials	FV	-920 169	7,4%	-993 738	-34,0%	-741 497
Other external purchases and charges	FW	12 432 783	-28,7%	17 444 732	2,9%	16 951 909
Tax, duty and similar payments	FX	1 880 067	-14,1%	2 188 030	-20,7%	2 758 537
Payroll	FY	12 921 995	-22,2%	16 614 148	6,4%	15 611 635
Social security costs	FZ	5 762 164	-20,6%	7 258 382	3,2%	7 030 125

Depreciation

		31/08/2011		30/11/2010		30/11/2008
Depreciation of fixed assets	GA	2 859 945	-19,2%	3 538 927	12,8%	3 137 889
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1 187 275	-16,6%	1 423 764	11,2%	1 280 901
Provisions for risks and charges	GD	920 928	111,3%	435 848	-18,8%	536 715

Other charges

		31/08/2011		30/11/2010		30/11/2008
Other charges	GE	1 976 101	-18,9%	2 437 399	18,4%	2 059 427

Operating charges (III-IV)

		31/08/2011		30/11/2010		30/11/2008
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/08/2011		30/11/2010		30/11/2008
	Total financial income (Total V)	GP	407 186	54,6%	263 401	-87,1%	2 037 225
	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	234 477	58,8%	147 700	-92,1%	1 863 740
	Released provisions and transferred charges	GM	116 795	1125,0%	9 534	-91,1%	107 197
	Exchange gains	GN	55 914	-47,3%	106 167	60,2%	66 287
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/08/2011		30/11/2010		30/11/2008
	Total financial charge (Total VI)	GU	142 214	-39,9%	236 656	89,9%	124 649
	Financial reserves and provisions	GQ	7 250	-93,8%	116 795	1428,1%	7 643
	Interest and similar charges	GR	380	531,8%	-88	-115,1%	583
	Exchange losses	GS	134 584	12,2%	119 949	3,0%	116 422
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/08/2011		30/11/2010		30/11/2008
	Total extraordinary income (Total VII)	HD	654 102	-18,6%	803 770	54,3%	520 861
	Extraordinary operating income	HA	0	0%	0	0%	26 829
	Extraordinary income from capital transactions	HB	66 089	-32,2%	97 434	1278,3%	7 069
	Released provisions and transferred charges	HC	588 013	-16,8%	706 336	45,0%	486 962

Extraordinary charges (VIII)

			31/08/2011		30/11/2010		30/11/2008
	Total extraordinary charges (Total VIII)	HH	1 372 890	-27,1%	1 883 494	-12,2%	2 144 045
	Extraordinary operating charges	HE	436	170,8%	161	-98,1%	8 551
	Extraordinary charges from capital transactions	HF	20 767	-67,1%	63 111	-8,7%	69 095
	Extraordinary reserves and provisions	HG	1 351 687	-25,7%	1 820 222	-11,9%	2 066 398

Employee profit sharing (IX)

		31/08/2011		30/11/2010		30/11/2008
Employee profit sharing (Total IX)	HJ	1 075 490	-1,0%	1 086 854	-20,2%	1 361 992

Tax on profits (X)

		31/08/2011		30/11/2010		30/11/2008
Tax on profits (Total X)	HK	3 659 817	-23,8%	4 805 297	-15,3%	5 675 490

References

		31/08/2011		30/11/2010		30/11/2008
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	18 602	0%	0	0%	32 983
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	1 931 857	0%	0	0%	2 045 942

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)

			31/08/2011		30/11/2010		30/11/2008
	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	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	0

Research and development Charge (Total I)

			31/08/2011		30/11/2010		30/11/2008
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/08/2011		30/11/2010		30/11/2008
	Gross value at begin of period	KD	0	0%	0	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	0

Tangible fixed assets (Total III)

			31/08/2011		30/11/2010		30/11/2008
	Gross value at begin of period	LN	0	0%	0	0%	0
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	0	0%	0	0%	0

Fiancial assets (Total IV)

			31/08/2011		30/11/2010		30/11/2008
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/08/2011		30/11/2010		30/11/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		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)

			31/08/2011		30/11/2010		30/11/2008
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/08/2011		30/11/2010		30/11/2008
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/08/2011		30/11/2010		30/11/2008
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	0
Increases		QV	0	0%	0	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	0

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/08/2011		30/11/2010		30/11/2008
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/08/2011		30/11/2010		30/11/2008
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/08/2011		30/11/2010		30/11/2008
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

Includes Total allocations

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

Includes Total Withdrawal

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

Total regulated provisions (Total I)

			31/08/2011		30/11/2010		30/11/2008
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/08/2011		30/11/2010		30/11/2008
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/08/2011		30/11/2010		30/11/2008
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/08/2011		30/11/2010		30/11/2008
Gross value	VT	0	0%	0	0%	0
1 year at most	VU	0	0%	0	0%	0
More than one year	VV	0	0%	0	0%	0

State of loans

		31/08/2011		30/11/2010		30/11/2008
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/08/2011		30/11/2010		30/11/2008
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	0
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	0	0%	0	0%	0

Prepaid

		31/08/2011		30/11/2010		30/11/2008
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/08/2011		30/11/2010		30/11/2008
	Total debt (gross)	VY	0	0%	0	0%	0
1 year at most		VZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/08/2011		30/11/2010		30/11/2008
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	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%	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	0	0%	0	0%	0
1 year at most		8B2	0	0%	0	0%	0
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	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	0	0%	0	0%	0
1 year at most		8D2	0	0%	0	0%	0
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	0	0%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
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

		31/08/2011		30/11/2010		30/11/2008
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

		31/08/2011		30/11/2010		30/11/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/08/2011		30/11/2010		30/11/2008
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/08/2011		30/11/2010		30/11/2008
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/08/2011		30/11/2010		30/11/2008
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/08/2011		30/11/2010		30/11/2008
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/08/2011		30/11/2010		30/11/2008
Average number of employees	YP	0	0%	0	0%	347

Groups and Shareholders

		31/08/2011		30/11/2010		30/11/2008
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Fixed Asset Financing		1,25	-29,8%	1,78	1,1%	1,76	1,77	-29,4%
Global Debt		53 days	-41,1%	90 days	-6,2%	96 days	133 days	-60,2%
Working Capital Fund overall net		78 days	-69,6%	257 days	20,7%	213 days	86 days	-9,3%
Financial independence		%	-	%	-	718847,61%	303,33%	-
More ratios
Solvability		78,86%	-2,2%	80,62%	5,2%	76,63%	37,62%	109,6%
Capacity debt futures		%	-	%	-	%	1450,21%	-
Coverage of current assets by net working capital overall		57,72%	-24,9%	76,89%	13,2%	67,90%	48,22%	19,7%
General Liquidity			-		-		0,49	-
Restricted Liquidity			-		-		0,96	-

Management or rotation

		31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Need background in operating working capital		61 days	-75,8%	252 days	18,9%	212 days	32 days	90,6%
Treasury		16 days	700%	2 days	100%	1 days	4 days	300%
Inventory turnover of goods		6 days	-25,0%	8 days	-27,3%	11 days	99 days	-93,9%
Average length of credit granted to customers		90 days	-6,2%	96 days	5,5%	91 days	40 days	125,0%
Average length of credit obtained suppliers		58 days	-33,3%	87 days	1,2%	86 days	52 days	11,5%
More ratios
Inventory turnover of raw materials in industrial enterprises		74 days	39,6%	53 days	6,0%	50 days	87 days	-14,9%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	457 days	-
Rotation tangible assets		%	-	%	-	%	541,12%	-

Profitability of the business

		31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Margin trading		6,66%	23,3%	5,40%	-28,1%	7,51	0%	0%
Profitability of the business		23,34	0,6%	23,20	-9,0%	25,49	4,83%	383,2%
Net profit		10,27%	-4,0%	10,70%	-16,3%	12,79%	2,24%	358,5%
More ratios
Growth rate of turnover (excluding VAT)		-20,65%	0%	0%	0%	3,88%	0,49%	-4314,3%
Rates integration		49,27%	0,0%	49,25%	-6,1%	52,43%	35,60%	38,4%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		47,96%	-1,4%	48,63%	5,7%	46,01%	71,89%	-33,3%
Weight interests		0,18	-25,0%	0,24%	84,6%	0,13%	0,31%	-41,9%

Return on capital

		31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Cash flow from the overall profitability		15,55%	-3,8%	16,16%	-12,2%	18,41%	4,58%	239,5%
Rates of economic profitability		30%	42,9%	21%	-25,0%	28%	12%	150,0%
Financial profitability		61677402%	-41,9%	106090583%	26,0%	84180793%	12447,50%	495400,3%
Return on investment		13,40%	36,3%	9,83%	-31,7%	14,40%	8,20%	63,4%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/08/2011		30/11/2010		30/11/2008	Sector Median 2011
Turnover	79 081 578	-20,7%	99 666 745	6,2%	93 860 333	176 187 €	44785,0%

Sales of goods	19 557 237	-18,4%	23 971 508	4,5%	22 944 095
- Purchase of goods	14 295 102	-23,0%	18 574 447	15,6%	16 071 632
+/- Stock of goods variation	-5 925	-140,2%	14 749	108,5%	-174 348
Trading margin	5 268 060 €	-2,1%	5 382 312 €	-23,6%	7 046 811 €	0 €	0%
	6,66 % CA	23,3%	5,40 % CA	-28,1%	7,51 % CA	2,13 % CA	212,7%

Sale of goods produced	59 524 341	-21,4%	75 695 237	6,7%	70 916 236
+/- Stocked production	-1 364 222	-649,2%	-182 100	-114,6%	1 247 944
+ Self-constructed assets	0	0%	0	0%	0
Period production	58 160 119 €	-23,0%	75 513 137 €	4,6%	72 164 180 €	84 644,50 €	68611,0%
	73,54 % CA	-2,9%	75,77 % CA	-1,4%	76,88 % CA	98,21 % CA	-25,1%

Trading margin	5 268 060	-2,1%	5 382 312	-23,6%	7 046 811	0	0%
+ Period Production	58 160 119	-23,0%	75 513 137	4,6%	72 16 180	84 644,50	68611,0%
- Purchase of raw materials	12 954 545	-15,6%	15 354 142	11,4%	13 786 559
+/- Change in stocks of raw materiels	-920 169	7,4%	-993 738	-34,0%	-741 497
- Other external purchases and charges	12 432 783	-28,7%	17 444 732	2,9%	16 951 909
Added value	38 961 020 €	-20,6%	49 090 313 €	-0,3%	49 214 020 €	69 444 €	56004,2%
	49,27 % CA	0,0%	49,25 % CA	-6,1%	52,43 % CA	35,60 % CA	38,4%

Added value	38 961 020 €	-20,6%	49 090 313 €	-0,3%	49 214 020 €	69 444 €	56004,2%
+ Operating grants	61 908	-32,0%	91 083	-16,9%	109 584
- Tax, duty and similar payments	1 880 067	-14,1%	2 188 030	-20,7%	2 758 537
- Personal charges	18 684 159	-21,7%	23 872 530	5,4%	22 641 760
Gross operating surplus	18 458 702 €	-20,2%	23 120 836 €	-3,4%	23 923 307 €	8 259,50 €	223384,5%
	23,34 % CA	0,6%	23,20 % CA	-9,0%	25,49 % CA	4,83 % CA	383,2%

Gross operating surplus	18 458 702 €	-20,2%	23 120 836 €	-3,4%	23 923 307 €	8 259,50 €	223384,5%
+ Release of reserves and provisions	1 787 308	-22,6%	2 308 055	25,4%	1 840 786
+ Other operating income	10 512	-29,5%	14 914	2601,8%	552
- Depreciation/Amortisation	4 968 148	-8,0%	5 398 539	8,9%	4 955 505
- Other charges	1 976 101	-18,9%	2 437 399	18,4%	2 059 427
Operating result	13 312 273 €	-24,4%	17 607 867 €	-6,1%	18 749 713 €	4 658,50 €	285663,1%
	16,83 % CA	-4,8%	17,67 % CA	-11,6%	19,98 % CA	2,86 % CA	488,5%

Operating result	13 312 273 €	-24,4%	17 607 867 €	-6,1%	18 749 713 €	4 658,50 €	285663,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	407 186	54,6%	263 401	-87,1%	2 037 225
- Financial charges	142 214	-39,9%	236 656	89,9%	124 649
Pre-tax result	13 577 245 €	-23,0%	17 634 612 €	-14,7%	20 662 289 €	3 196 €	424719,9%
	17,17 % CA	-2,9%	17,69 % CA	-19,6%	22,01 % CA	2,11 % CA	713,7%

Extraordinary income	654 102	-18,6%	803 770	54,3%	520 861	0	0%
- Extraordinary charges	1 372 890	-27,1%	1 883 494	-12,2%	2 144 045
Extraordinary result	-718 788 €	33,4%	-1 079 724 €	33,5%	-1 623 184 €	0 €	0%
	-0,91 % CA	15,7%	-1,08 % CA	37,6%	-2 % CA	0 % CA	0%

Pre-tax result	13 577 245 €	-23,0%	17 634 612 €	-14,7%	20 662 289 €	3 196 €	424719,9%
Extraordinary result	-718 788 €	33,4%	-1 079 724 €	33,5%	-1 623 184 €	0 €	0%
- Employee profit sharing	1 075 490	-1,0%	1 086 854	-20,2%	1 361 992
- Tax on profits	3 659 817	-23,8%	4 805 297	-15,3%	5 675 490
Net result	8 123 150 €	-23,8%	10 662 737 €	-11,2%	12 001 623 €	4 098 €	198122,3%
	10,27 % CA	-4,0%	10,70 % CA	-16,3%	12,79 % CA	2,24 % CA	358,5%

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
21/04/2013	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 28/02/2013 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de KPMG Audit, De Monsieur Christophe BERNARD, De Monsieur Armand VAN DE PUTTE
11/12/2012	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 1482 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : SAS. Administration : président : BENAMEUR (Hassan) ; directeurs généraux délégués : MEIDANI (Djebrin), VERTOMMEN (Jan), VAN DE PUTTE (Armand), HUTCHISON (Keith) ; commissaire aux comptes titulaire : KPMG (SA) ; commissaire aux comptes suppléant : BERNARD (Christophe). Activité : . Commentaires : modification survenue sur l'administration.
07/10/2012	JAL	Appointment of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 17/09/2012 Société faisant l'objet d'une nomination : 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Nominé : Monsieur Djebrin Meidani, 68000 COLMAR En la fonction de : Directeur général
07/10/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 17/09/2012 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur Alain De Mol, De Monsieur Christia Gubiani
30/08/2012	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 441 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : Société par Actions Simplifiée. Administration : président : BENAMEUR (Hassan) ; directeurs généraux : GUBIANI (Christian), DE MOL (Alain) ; directeurs généraux délégués : VERTOMMEN (Jan), VAN DE PUTTE (Armand), HUTCHISON (Keith) ; commissaire aux comptes titulaire : KPMG (SA) ; commissaire aux comptes suppléant : BERNARD (Christophe). Activité : . Commentaires : modification survenue sur l'administration.
25/07/2012	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 1983 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : S.A.S. Administration : président : VAN HOOREBEKE (Olivier) ; directeurs généraux : GUBIANI (Christian) et DE MOL (Alain) ; directeurs généraux délégués : VERTOMMEN (Jan), VAN DE PUTTE (Armand), HUTCHISON (Keith) et BENAMEUR (Hassan) ; commissaire aux comptes titulaire : KPMG (SA) ; commissaire aux comptes suppléant : BERNARD (Christophe). Activité : . Commentaires : modification survenue sur l'administration.
25/07/2012	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 2750 - 612050518 RCS. CAPSUGEL FRANCE. Forme : S.A.S.. Adresse : 10, rue Timken 68000 Colmar. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/08/2011.
08/07/2012	JAL	Appointment of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 26/06/2012 Société faisant l'objet d'une nomination : 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Nominé : Monsieur Hassan BENAMEUR, 95600 EAUBONNE En la fonction de : Président
08/07/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 26/06/2012 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur Olivier van Hoorebeke, De Monsieur BENAMEUR
30/06/2012	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 1059 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : S.A.S. Administration : président : MOURISSE (Carl) ; directeurs généraux : GUBIANI (Christian) et DE MOL (Alain) ; directeurs généraux délégués : VERTOMMEN (Jan) ; VAN DE PUTTE (Armand) ; HUTCHISON (Keith) et BENAMEUR (Hassan) ; commissaire aux comptes titulaire : KPMG (SA) ; commissaire aux comptes suppléant : BERNARD (Christophe). Activité : . Commentaires : modification survenue sur l'administration.
10/06/2012	JAL	Appointment of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 24/05/2012 Société faisant l'objet d'une nomination : 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Nominé : Monsieur Olivier van Hoorebeke, 1702 DILBEEK En la fonction de : Président
10/06/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 24/05/2012 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur Carl Mourisse
03/06/2012	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 348 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : Société par actions simplifiée. Administration : président : MOURISSE (Carl), directeur général pharmacien responsable : VERTOMMEN (Jan), directeur général GUBIANI (Christian), commissaire aux comptes titulaire : KPMG (SA), commissaire aux comptes suppléant : BERNARD (Christophe). Activité : . Commentaires : modification survenue sur l'administration.
22/04/2012	JAL	Appointment of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 25/10/2011 Société faisant l'objet d'une nomination : 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Nominé : Monsieur Jan Vertommen
22/04/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 25/10/2011 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur Jan Vertommen
08/04/2012	JAL	Appointment of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 25/10/2011 Société faisant l'objet d'une nomination : 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Nominé : Monsieur Alain De Mol, B-9000 GENT En la fonction de : Directeur général Nominé : Monsieur Hassan Benameur, 95600 EAUBONNE Nominé : Monsieur Keith Hutchison, B-9100 SINT-NIKLAAS Nominé : Monsieur Armand Van de Putte, BARENDRECHT
18/03/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du Haut Rhin (Les) Date de décision : 29/02/2012 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur Laurent DIS
10/09/2011	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 2931 - 612050518 RCS. CAPSUGEL FRANCE. Forme : S.A.S. Adresse : 10, rue Timken, 68000 Colmar. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/11/2010.
22/09/2010	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 3445 - 612050518 RCS. CAPSUGEL FRANCE. Forme : S.A.S. Adresse : 10, rue Timken, 68000 Colmar. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/11/2009.
21/07/2010	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 859 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : Société par actions simplifiée. Administration : président : MOURISSE (Carl), directeur général pharmacie responsable : VERTOMMEN (Jan), directeurs généraux : GUBIANI (Christian), DISS (Laurent), commissaire aux comptes titulaire : KPMG (SA), commissaire aux comptes suppléant : BERNARD (Christophe). Commentaires : modification survenue sur l'administration.
13/06/2010	JAL	Resignation / Revocation of the social representative
LES PETITES AFFICHES DU HAUT RHIN Date de décision : 28/05/2010 La société 612050518 - CAPSUGEL FRANCE, 10 RUE TIMKEN, 68000 COLMAR Fait l'objet du départ de Monsieur DJERBRIN MEIDANI
13/09/2009	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 2701 - 612050518 RCS. CAPSUGEL FRANCE. Forme : S.A.S. Adresse : 10, rue Timken, 68000 Colmar. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/11/2008.
18/10/2008	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 2287 - 612050518 RCS. CAPSUGEL FRANCE. Forme : S.A.S. Adresse : 10, rue Timken, 68000 Colmar. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/11/2007.
15/08/2008	Bodacc B	Modification et mutation diverse
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE COLMAR 887 - 612 050 518 RCS Colmar. CAPSUGEL FRANCE. Forme : S.A.S. Administration : nomination directeurs généraux : MEIDANI (Djebrin), DISS (Laurent). Capital : 1280000 EUR. Activité : non précisée. Adresse du siège social : 10 rue Timken, 68000 Colmar. Commentaires : modification sur l'administration ; le 30/05/2008.
19/08/2007	Bodacc C	Avis de dépôt des comptes
2691 - Colmar B 612 050 518. RC 70-B 111. CAPSUGEL FRANCE. Forme: S.A.S. Adresse du siège social: 10, rue Timken,68000 Colmar. Comptes annuels et rapports de l'exercice clos le: 30 novembre 2006.
30/09/2006	Bodacc C	Avis de dépôt des comptes
2501 - RCS Colmar B 612 050 518. RC 70-B 111. CAPSUGEL FRANCE. Forme: S.A.S. Adresse du siège social: 10, rue Timken,68000 Colmar. Comptes annuels et rapports de l'exercice clos le: 30 novembre 2005.
30/11/2005	Bodacc B	Modifications et mutations diverses
1087 - RCS Colmar 612 050 518. RC 70-B 111. CAPSUGEL FRANCE. Forme : S.A.S. Capital : 1 280 000 euros. Adresse du siège social : 10 rue Timken,, 68000 Administration : directeur général partant : VAN DE NESTE (Ronny). Nouveau directeur général : GUBIANI (Christian). Date d'effet : 7 septembre 2005.
27/08/2005	Bodacc C	Avis de dépôt des comptes
2532 - RCS Colmar B 612 050 518. RC 70-B 111. CAPSUGEL FRANCE. Forme: S.A.S. Adresse du siège social: 10, rue Timken,68000 Colmar. Comptes annuels et rapports de l'exercice clos le: 30 novembre 2004.
07/11/2004	Bodacc B	Modifications et mutations diverses
RCS Colmar 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A.S. Capital : 1 280 000 euros. Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : ancien directeur général et pharmacien responsable : DAUMESNIL (Roland). Nouveau directeur général et pharmacien responsable : VERTOMMEN (Jan). Date d'effet : 30 juin 2004.
04/05/2003	Bodacc B	Modifications et mutations diverses
RCS Colmar 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A.S. Capital : 1 280 000 euros. Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : nouveau président : MOURISSE (Carl), en remplacement de DRIESEN (Guido). Date d'effet : 3 février 2003.
09/10/2002	Bodacc B	Modifications et mutations diverses
RCS Colmar 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A.S. Capital : 1 280 000 euros. Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : nomination d'un associé ou tiers ayant le pouvoir de diriger, gérer ou engager à titre habituel la société et ayant la qualité de directeur général : VAN DE NESTE (Ronny). Date d'effet : 24 mai 2002.
23/12/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Colmar B 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 1 280 000 euros. Adresse : 10 rue Timken, 68000 Colmar Nouvelle situation du siège social. Forme : S.A.S Extention d' activité: distribution de médicaments et de produits assimilés. Administration : nomination d'un président : GUIDO ( Dreisen), ancien président du conseil d' administration. Nomination d'un directeur général et pharmacien responsable : DAUMESNIL (Roland). Anciens administrateurs : LAUFER ( Michael) CONSTANT (Michel) HOOVER ( Charles) SUBSTANTIA, représentée par SOREN (Celinder) et BALMES (Hervé). Date d'effet : 17 octobre 2001.
02/02/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Colmar B 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 8 000 000 de F. Adresse : 10 rue Timken, 68000 Colmar Nouvelle situation du siège social. Capital : 1 280 000 euros. Commentaires : augmentation du capital à 8 396 249,60 F puis conversion en euros. Administration : changement de représentant permanent de la STE SUBSTANTIA, administrateur. Ancien : BERTE (Christian). Nouveau : CELINDER ( Soren), à compter du 7 novembre 2000. Ancien commissaire aux comptes titulaire : BEFEC PRICE WATERHOUSE. Nouveau commissaire aux comptes titulaire : S.A. K.M.P.G. Ancien commissaire aux comptes suppléant : MORALEE (Michel). Nouveau commissaire aux comptes suppléant : BERNARD ( Christophe). Date d'effet : 1er décembre 2000.
08/08/2000	Bodacc B	Modifications et mutations diverses
RCS Colmar B 612 050 518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 8 000 000 de F (fixe). Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : ancien directeur général et administrateur : FRECHARD ( Jean-Pierre) nomination en qualité d' administrateur de BALMES (Hervé). Date d'effet : 27 juin 2000.
13/06/2000	Bodacc B	Modifications et mutations diverses
RCS Colmar B 612 050 518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 8 000 000 de F (fixe). Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : changement de représentant permanent de la société SUBSTANTIA, administrateur : ancien : BERTHE DE POMMERY (Arnaud), nouveau : BERTE (Christian). Date d'effet : 12 octobre 1999.
07/09/1999	Bodacc B	Modifications et mutations diverses
RCS Colmar B 612050518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 8 000 000 F (fixe). Adresse du siège social : 10, rue Timken, 68000 Colmar. Commentaires : ancienne dénomination d' administrateur : PARKE DAVIS nouvelle dénomination d'administrateur : SUBSTANTIA S.A. changement d'adresse du commissaire aux comptes titulaire. Date d'effet : 27 mai 1999.
03/08/1997	Bodacc B	Modifications et mutations diverses
RCS Colmar B 612 050 518 RC 70-B 111 CAPSUGEL FRANCE. Forme : S.A. Capital : 8 000 000 de F (fixe). Adresse du siège social : 10 rue Timken, 68000 Colmar. Administration : changement de représentant permanent de la société PARKE DAVIS : ancien : SIBI (Pierre), nouveau : BERTHE DE POMMERY (Arnaud). Date d'effet : 15 avril 1997.

Company events history

Date	Description
21/04/2013	Legal Gazette: Resignation / Revocation of the social representative
11/12/2012	Bodacc B: Various editing or changing
07/10/2012	Legal Gazette: Resignation / Revocation of the social representative
17/09/2012	Legal Gazette: Appointment of the social representative
30/08/2012	Bodacc B: Various editing or changing
25/07/2012	Bodacc B: Various editing or changing
25/07/2012	Bodacc C : Deposit accounts notice
21/07/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
17/07/2012	Appointment/resignation of company officers
17/07/2012	New chairman (CEO, CoB)
17/07/2012	Private document
08/07/2012	Legal Gazette: Resignation / Revocation of the social representative
30/06/2012	Bodacc B: Various editing or changing
26/06/2012	Legal Gazette: Appointment of the social representative
25/06/2012	Amendment
25/06/2012	New chairman (CEO, CoB)
25/06/2012	Appointment/resignation of company officers
10/06/2012	Legal Gazette: Resignation / Revocation of the social representative
03/06/2012	Bodacc B: Various editing or changing
24/05/2012	Legal Gazette: Appointment of the social representative
23/05/2012	Minutes of general meeting of shareholders
23/05/2012	Changes to the Board of Directors
23/05/2012	Amendment
25/04/2012	Private document
25/04/2012	Minutes of general meeting of shareholders
22/04/2012	Legal Gazette: Resignation / Revocation of the social representative
18/03/2012	Legal Gazette: Resignation / Revocation of the social representative
16/03/2012	Appointment/resignation of company officers
16/03/2012	Updated articles of association
16/03/2012	Amendment
16/03/2012	Private document
29/11/2011	Private document
29/11/2011	Appointment/resignation of company officers
29/11/2011	Amendment
02/11/2011	New legal form – new category
02/11/2011	New closing date
02/11/2011	Updated articles of association
02 11/2011	Amendment
25/10/2011	Legal Gazette: Appointment of the social representative
15/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
10/09/2011	Bodacc C : Deposit accounts notice
31/08/2011	New accounts available
25/08/2011	Update of Company Legal Form
25/08/2011	Other modification of Establishment (error correction)
01/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
06/05/2011	Disengagement of the group
06/05/2011	New ultimate parent
06/05/2011	New parent detected
30/11/2010	New accounts available
22/09/2010	Bodacc C : Deposit accounts notice
21/07/2010	Bodacc B: Various editing or changing
20/07/2010	Formation of Establishment
22/06/2010	Appointment/resignation of company officers
22/06/2010	Private document
22/06/2010	Changes to the Board of Directors
22/06/2010	Amendment
13/06/2010	Legal Gazette: Resignation / Revocation of the social representative
30/11/2009	New accounts available
13/09/2009	Bodacc C : Deposit accounts notice
30/11/2008	New accounts available
18/10/2008	Bodacc C : Deposit accounts notice
15/08/2008	New Bodacc B ads detected
15/08/2008	Bodacc B: Various editing or changing
15/07/2008	PV d'Assemblée
15/07/2008	Minutes of general meeting of shareholders
15/07/2008	Amendment
15/07/2008	Appointment/resignation of company officers
15/07/2008	Nomination/démission des organes de gestion
15/07/2008	Private document
15/07/2008	Acte sous seing privé
15/07/2008	Acte modificatif
30/11/2007	New accounts available
30/11/2006	New accounts available
30/11/2005	New accounts available
20/10/2005	Private document
20/10/2005	Appointment/resignation of company officers
20/10/2005	Minutes of general meeting of shareholders
20/10/2005	PV d'Assemblée
20/10/2005	Acte modificatif
20/10/2005	Acte sous seing privé
20/10/2005	Nomination/démission des organes de gestion
30/11/2004	New accounts available
11/10/2004	Private document
11/10/2004	Appointment/resignation of company officers
11/10/2004	Minutes of general meeting of shareholders
11/10/2004	PV d'Assemblée
11/10/2004	Acte modificatif
11/10/2004	Acte sous seing privé
11/10/2004	Nomination/démission des organes de gestion
30/11/2003	New accounts available
25/03/2003	Nomination/démission des organes de gestion
25/03/2003	Acte modificatif
25/03/2003	Acte sous seing privé
25/03/2003	PV d'Assemblée
04/09/2002	Acte sous seing privé
04/09/2002	Acte modificatif
04/09/2002	PV d'Assemblée
04/09/2002	Nomination/démission des organes de gestion
15/11/2001	Changement de Forme Juridique avec changement de catégorie
15/11/2001	Changement de Forme Juridique sans changement de catégorie
15/11/2001	Modification de l'objet social
15/11/2001	Acte sous seing privé
15/11/2001	Nomination/démission des organes de gestion
15/11/2001	PV d'Assemblée
15/11/2001	PV du Conseil d'Administration
15/11/2001	Statuts mis à jour
15/11/2001	Acte modificatif
22/08/2001	Changement de date de clôture
22/08/2001	Acte modificatif
22/08/2001	Statuts mis à jour
22/08/2001	PV d'Assemblée
22/08/2001	Acte sous seing privé
29/12/2000	Augmentation de Capital
29/12/2000	Conversion du Capital Social en Euros
29/12/2000	Acte modificatif
29/12/2000	Changement de Commissaire aux Comptes
29/12/2000	Statuts mis à jour
29/12/2000	PV d'Assemblée
29/12/2000	Nomination/démission des organes de gestion
29/12/2000	Acte sous seing privé
12/07/2000	Modification du Conseil d'Administration
12/07/2000	Acte modificatif
12/07/2000	Acte sous seing privé
12/07/2000	PV d'Assemblée
12/07/2000	Nomination/démission des organes de gestion
12/07/2000	PV du Conseil d'Administration
04/05/2000	Acte sous seing privé
04/05/2000	Nomination/démission des organes de gestion
04/05/2000	Acte modificatif
12/11/1996	PV du Conseil d'Administration
12/11/1996	Acte modificatif
12/11/1996	Nomination/démission des organes de gestion
12/11/1996	Modification du Conseil d'Administration
12/11/1996	Acte sous seing privé
19/01/1996	Statuts mis à jour
19/01/1996	PV d'Assemblée
19/01/1996	Acte modificatif
19/01/1996	Changement de date de clôture
03/03/1994	Modification du Conseil d'Administration
03/03/1994	Acte modificatif
03/03/1994	Nomination/démission des organes de gestion
03/03/1994	PV du Conseil d'Administration
03/03/1994	Changement de Président (PDG, PCA)
29/06/1993	Nomination/démission des organes de gestion
29/06/1993	Modification du Conseil d'Administration
29/06/1993	Acte modificatif
29/06/1993	PV d'Assemblée

Establishment events history

Date	Description
08/06/2013	Update Limit
12/01/2013	Update of phone numbers
25/08/2011	Modification of Head office
29/07/2011	Update Limit
06/05/2011	Update Rating
04/09/2010	Update Limit
07/08/2010	Update Rating
20/07/2010	Modification of Head office
19/05/2008	Update of phone numbers
09/12/2007	Update Limit

directors

Name	M. DE MOL ALAIN
Manager position	Managing director	Date of birth	21/06/1972
Place of birth	MONT SAINT AMAND
Type	Individual	Name at birth

Name	M. VAN DE PUTTE ARMAND
Manager position	Delegated managing director	Date of birth	03/09/1959
Place of birth	LOSSER
Type	Individual	Name at birth

Name	HUTCHISON KAITH
Manager position	Delegated managing director	Date of birth	11/04/1956
Place of birth	BITMINGHAM
Type	Individual	Name at birth

Name	M. BENAMEUR HASSAN
Manager position	Delegated managing director, President	Date of birth	07/07/1965
Place of birth	VILVOORDE
Type	Individual	Name at birth

Name	M. GUBIANI CHRISTIAN
Manager position	Managing director	Date of birth	01/03/1967
Place of birth	MULHOUSE
Type	Individual	Name at birth

Name	M. VERTOMMEN JAN
Manager position	Delegated managing director	Date of birth	15/02/1968
Place of birth	SINT NIKLAAS BELGIQUE
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M CARL MOURISSE	19/05/1964 - NIEUWPOORT BELGIQUE
President	M CARL MOURISSE	19/05/1964 - NIEUWPOORT BELGIQUE
President	M OLIVIER VAN HOOREBEKE	12/10/1972 - GAND
Managing director	M LAURENT DISS	13/08/1965 - STRASBOURG
Managing director	M LAURENT DISS	13/08/1965 - STRASBOURG
Managing director	M CHRISTIAN GUBIANI	01/03/1967 - MULHOUSE
Managing director	M DJEBRIN MEIDANI	12/10/1955 - CRETEIL
Managing director	M JAN VERTOMMEN	15/02/1968 - SINT NIKLAAS BELGIQUE
Managing director	M JAN VERTOMMEN	15/02/1968 - SINT NIKLAAS BELGIQUE
President	M CARL MOURISSE	19/05/1964 - NIEUWPOORT BELGIQUE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.30
UK Pound	1	Rs.101.36
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

SDA

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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