MIRA INFORM REPORT

Report Date :

26.11.2013

IDENTIFICATION DETAILS

Name :	FAMAR ORLEANS
Registered Office :	Manufacturing 5 Av De Concyr 45071 Orleans Cedex 2
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	2006
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacture of pharmaceutical preparations
No. of Employees :	390

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
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

FAMAR ORLEANS

SIRET

493 414 403 00029

Personal comment

company summary

EUR VAT Number	FR38493414403
Activity (APE)	Manufacture of pharmaceutical preparations (2120Z)	Legal form	Simplified Joint Stock Company with Single Associate
Phone	02 38 64 19 51	RCS Registration	RCS Orleans 0 493 414 403
Fax	02 38 63 36 29
Address	FAMAR ORLEANS FARMAR ORLEANS - MCNEIL MANUFACTURING 5 AV DE CONCYR 45071 ORLEANS CEDEX 2	Incorporated Date	12/2006
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	LABORATOIRE FAMAR - FFH
Name of representative
Manager position	President	Date of birth
Place of birth
Type	Moral person	Name at birth

Name	Mme. ASCIONE MICHÈLE
Manager position	Managing director	Date of birth	19/04/1967
Place of birth	MONTREUIL (93)
Type	Individual	Name at birth

Name	M. DE TARADE LOÏC
Manager position	Managing director	Date of birth	06/10/1963
Place of birth	LILLE (59)
Type	Individual	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M PHILIPPE DE BACKER	- - -
President	M PHILIPPE DE BACKER	02/05/1955 - RENAIX BELGIQUE
President	M GEORGIOS ENGLEZAKIS	17/06/1947 - HERAKLION GRECE
President	M ERIC MAILLARD	- - -
Managing director	M HENDRICK DUQUESNE	- - -
Managing director	M HENDRICK DUQUESNE	30/12/1963 - ABBEVILLE (80)
Managing director	M HENDRICK DUQUESNE	30/12/1963 - ABBEVILLE
Managing director	M HENDRICK DUQUESNE	30/12/1963 - ABBEVILLE (80)
Managing director	M ERIC MAILLARD	14/01/1958 - ISSY LES MOULINEAUX
Managing director	M RÉGIS MARTIN	02/09/1959 - MARSEILLE (13)
Managing director	M RÉGIS MARTIN	02/09/1959 - MARSEILLE (13)
Managing director	DOMINIQUE SOULARD	- - -
Managing director	M DOMINIQUE SOULARD	24/09/1968 - CHATELLERAULT
Managing director	M HENDRICK DUQUESNE	30/12/1963 - ABBEVILLE (80)

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

53,235,930 Euros

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	39
	Total number of Invoices paid within or up to 30 days after the due date	38
	Total number of Invoices paid more than 30 days after the due date	1
	Total number of Invoices currently outstanding where the due date has not yet been reached	0
	Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number	Click here to view the affiliation links
	MARINOPOULOS HOLDING CYPRUS LIMITED	-

Group data

Ultimate parent company	MARINOPOULOS HOLDING CYPRUS LIMITED
Direct parent	LABORATOIRE FAMAR - FFH - 99.8 %
Group – Number of companies	9
Linkages – Number of companies	-
Number of countries	-

Group Structure

Linkages

Company Name	SIREN	Parts	Rating	Limit	Last account published
MARINOPOULOS HOLDING CYPRUS LIMITED	-	-	NC	-	-
MARINOPOULOS BROS CYPRUS LTD	-	100%	NC	-	-
FAMAR SA LUXEMBOURG	-	100%	NC	-	-
LABORATOIRE FAMAR - FFH	448572651	100%	75	380 000 €	31/12/2012
FAMAR L'AIGLE	410310148	100%	55	175 000 €	31/12/2012
FAMAR ORLEANS	493414403	99.80%	26	0 €	31/12/2012
FAMAR DEVELOPPEMENT	509679122	100%	98	3 000 €	31/12/2012
FAMAR FRANCE	434534541	100%	99	360 000 €	31/12/2012
FAMAR LYON	410091284	100%	35	88 000 €	31/12/2012

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	68,421,541 €	73,638,693 €	65,846,613 €
Gross Operating Surplus	-15,29 % Turnover	-4,55 % Turnover	8,80 % Turnover
Shareholders’ equity	23,756,813 €	34,531,275 €	32,607,535 €
Net result	-14,761,287 €	-841,562 €	3,851,914 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	10/09/2013	29/08/2012	26/07/2011
Activity Code	2120Z	2120Z	2120Z
Employees	390	408	432

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	54 093 890	51,6%	35 677 603	28,8%	27 696 436	2 696 631	1906,0%
- Intangible assets	14 868 772	377,1%	3 116 267	59,2%	1 956 997	170 647	8613,2%
- Tangible assets	50 854 933	56,9%	32 419 487	26,4%	25 653 678	976 300	5108,9%
- Financial assets	146 429	3,2%	141 849	65,4%	85 761	18 097	709,1%
Net current assets	29 964 323	-37,0%	47 571 324	5,7%	45 021 044	5 880 443	409,6%
- Stocks	15 818 670	30,9%	12 085 988	22,2%	9 893 555	1 583 266	899,1%
- Advanced payments	88 192	-37,0%	16 256	21867,6%	74	121	72786,0%
- Receivables	13 290 523	-51,6%	27 470 797	-14,0%	31 924 779	3 358 106	295,8%
- Securities and cash	766 938	-90,4%	7 998 283	149,7%	3 202 636	394 507	94,4%
- Prepaid expenses	-	-	-	-	-	1 221	-
Accounts of regularization	0	0%	0	0%	98	0	0%
Total Assets	84 058 214	1,0%	83 248 928	14,5%	72 717 578	10 341 663	712,8%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Shareholders' equity	23 756 813	-31,2%	34 531 275	5,9%	32 607 535	3 250 377	630,9%
Share capital	53 235 930	2,0%	52 188 150	4,0%	50 162 540	775 000	6769,2%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	15 154 927	32,6%	11 429 190	-35,2%	17 631 667	85 669	17590,1%
Liabilities	45 146 472	21,1%	37 288 463	65,9%	22 478 376	5 057 476	792,7%
- Financial liabilities	2 346 252	0%	0	0%	0	405 825	478,1%
- Advanced payments received	2 164 507	0%	0	0%	0	0	0%
- Trade account payables	19 129 110	-2,6%	19 634 654	66,8%	11 772 957	1 761 812	985,8%
- Tax and social liabilities	10 647 806	57,9%	6 745 447	3,4%	6 523 748	726 880	1364,9%
- Other debts and fixed assets liabilities	9 926 797	2,4%	9 691 050	261,6%	2 680 171	146 245	6687,8%
Account regularization	932 000	-23,4%	1 217 312	-18,9%	1 501 500	0	0%
Total liabilities	84 058 214	1,0%	83 248 928	14,5%	72 717 578	10 341 663	712,8%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Sales of Goods	81 357 212	-10,7%	91 076 871	2,8%	88 638 275	11 979 911	579,1%
Net turnover	68 421 541	-7,1%	73 638 693	11,8%	65 846 613	11 981 824	471,0%
- of which net export turnover	44 920 615	-1,2%	45 470 549	8,5%	41 896 089	582 927	7606,0%
Operating charges	97 010 092	-2,2%	99 207 523	13,0%	87 782 475	12 339 621	686,2%
Operating profit/loss	-15 652 880	-92,5%	-8 130 652	-1050,1%	855 800	287 515	-5544,2%
Financial income	146 525	-62,5%	391 189	33,5%	293 039	16 046	813,2%
Financial charges	74 521	-2,1%	76 087	1039,2%	6 679	54 723	36,2%
Financial profit/loss	72 004	-77,1%	315 102	10,0%	286 360	-2 872	2607,1%
Pretax net operating income	-15 580 876	-99,4%	-7 815 550	-784,3%	1 142 160	237 797	-6652,2%
Extraordinary income	3 855 154	-55,4%	8 636 412	-53,2%	18 443 546	34 047	11223,0%
Extraordinary charges	3 035 566	79,2%	1 693 834	-89,2%	15 733 794	47 202	6331,0%
Extraordinary profit/loss	819 588	-88,2%	6 942 578	156,2%	2 709 752	0	0%
Net result	-14 761 287	-1654,0%	-841 562	-121,8%	3 851 914	243 485	-6162,5%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to VI)	Net	84 058 214	1,0%	83 248 928	14,5%	72 717 578
Gross	CO	135 594 384	14,0%	118 912 018	14,1%	104 186 207
Amortisation	1A	51 536 170	44,5%	35 663 090	13,3%	31 468 629

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2012		31/12/2011		31/12/2010
Total Active fixed asset (II)	Net	54 093 890	51,6%	35 677 603	28,8%	27 696 436
Gross	BJ	102 324 916	47,0%	69 605 651	21,1%	57 479 318
Amortisation	BK	48 231 026	42,2%	33 928 048	13,9%	29 782 882

Intangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	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	372 737	10,6%	336 897	-27,2%	462 933
	Gross	AF	2 297 799	117,1%	1 058 302	1,3%	1 045 213
	Amortisation	AG	1 925 062	166,8%	721 405	23,9%	582 280
	Goodwill	Net	14 111 875	504,2%	2 335 631	133,6%	1 000 000
	Gross	AH	14 111 875	0%	14 111 875	10,5%	12 776 244
	Amortisation	AI	11 776 244	0%	11 776 244	0%	11 776 244
	Other intangible fixed assets	Net	384 160	-13,4%	443 739	-10,2%	494 064
	Gross	AJ	715 500	12,1%	638 004	11,1%	574 353
	Amortisation	AK	331 340	70,6%	194 265	142,0%	80 289
	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	14 868 772	377,1%	3 116 267	59,2%	1 956 997

Tangible fixed assets

		31/12/2012		31/12/2011		31/12/2010
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	1 754 323	11,0%	1 581 031	-10,3%	1 763 104
Gross	AP	3 015 128	18,9%	2 535 601	2,0%	2 486 521
Amortisation	AQ	1 260 805	32,1%	954 570	32,0%	723 417
Plant	Net	24 394 614	21,0%	20 163 341	-10,6%	22 546 463
Gross	AR	55 118 152	42,1%	38 793 569	3,0%	37 669 712
Amortisation	AS	30 723 538	64,9%	18 630 228	23,2%	15 123 249
Other tangible fixed assets	Net	263 343	-8,7%	288 436	-31,2%	419 525
Gross	AT	2 477 380	27,7%	1 939 772	1,2%	1 916 928
Amortisation	AU	2 214 037	34,1%	1 651 336	10,3%	1 497 403
Fixed assets in construction	Net	24 373 999	162,8%	9 276 448	903,3%	924 586
Gross	AV	24 373 999	162,8%	9 276 448	903,3%	924 586
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	68 654	-93,8%	1 110 231	0%	0
Gross	AX	68 654	-93,8%	1 110 231	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	50 854 933		32 419 487		25 653 678

Financial assets

		31/12/2012		31/12/2011		31/12/2010
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	0	0%	0	0%	0
Gross	CU	0	0%	0	0%	0
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
Gross	BF	0	0%	0	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	146 429	3,2%	141 849	65,4%	85 761
Gross	BH	146 429	3,2%	141 849	65,4%	85 761
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		146 429		141 849		85 761

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2010
Total Assets	Net	29 964 323	-37,0%	47 571 324	5,7%	45 021 044
Gross	CJ	33 269 467	-32,5%	49 306 366	5,6%	46 706 791
Amortisation	CK	3 305 144	90,5%	1 735 042	2,9%	1 685 747

Stocks

		31/12/2012		31/12/2011		31/12/2010
Raw materials	Net	8 806 099	19,8%	7 352 373	28,1%	5 739 170
Gross	BL	10 610 382	27,7%	8 306 649	23,1%	6 746 068
Amortisation	BM	1 804 283	89,1%	954 276	-5,2%	1 006 898
Work in progress (goods)	Net	182 306	0%	0	0%	0
Gross	BN	182 306	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	6 830 265	44,3%	4 733 615	13,9%	4 154 385
Gross	BR	7 967 676	50,0%	5 310 728	10,7%	4 798 124
Amortisation	BS	1 137 411	97,1%	577 113	-10,3%	643 739
Goods for resale	Net	0	0%	0	0%	0
Gross	BT	0	0%	0	0%	0
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	15 818 670	30,9%	12 085 988	22,2%	9 893 555

Advance payments to suppliers

		31/12/2012		31/12/2011		31/12/2010
Advance payments to suppliers	Net	88 192	442,5%	16 256	21867,6%	74
Gross	BV	88 192	442,5%	16 256	21867,6%	74
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2012		31/12/2011		31/12/2010
Trade accounts receivable	Net	7 134 766	13,7%	6 277 449	-11,4%	7 086 701
Gross	BX	7 498 216	15,7%	6 481 102	-9,0%	7 121 811
Amortisation	BY	363 450	78,5%	203 653	480,0%	35 110
Other debtors	Net	5 955 795	-71,7%	21 024 411	-15,1%	24 751 284
Gross	BZ	5 955 795	-71,7%	21 024 411	-15,1%	24 751 284
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	13 090 561	-52,1%	27 301 860	-14,2%	31 837 985

Divers

		31/12/2012		31/12/2011		31/12/2010
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	766 938	-90,4%	7 998 283	149,7%	3 202 636
Gross	CF	766 938	-90,4%	7 998 283	149,7%	3 202 636
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	766 938	-90,4%	7 998 283	149,7%	3 202 636

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2010
Prepaid expenses	Net	199 962	18,4%	168 937	94,6%	86 794
Gross	CH	199 962	18,4%	168 937	94,6%	86 794
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
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%	98
Gross		0	0%	0	0%	98

References

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to V)	EE	84 058 214	1,0%	83 248 928	14,5%	72 717 578

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2010
Total shareholders' equity (Total I)	DL	23 756 813	-31,2%	34 531 275	5,9%	32 607 535
Equity and shareholders' equity	DA	53 235 930	2,0%	52 188 150	4,0%	50 162 540
Issue and merger premiums	DB	3 296 449	580,9%	484 143	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	404 781	0%	404 781	0%	404 781
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	-20 123 176	-4,4%	-19 281 613	16,7%	-23 133 527
Profit or loss for the period	DI	-14 761 287	-1654,0%	-841 563	-121,8%	3 851 914
Investment grants	DJ	1 704 116	8,0%	1 577 377	19,3%	1 321 827
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2012		31/12/2011		31/12/2010
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2012		31/12/2011		31/12/2010
Total provisions for risks and charges (Total III)	DR	15 154 927	32,6%	11 429 190	-35,2%	17 631 667
Risk provisions	DP	50 000	-98,2%	2 765 743	-61,1%	7 108 505
Reserves for charges	DQ	15 104 927	74,4%	8 663 447	-17,7%	10 523 162

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2010
Total Liabilities (Total IV)	EC	45 146 472	21,1%	37 288 463	65,9%	22 478 376
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	986 759	0%	0	0%	0
Sundry loans and financial liabilities	DV	1 359 493	0%	0	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	2 164 507	0%	0	0%	0
Trade accounts payables	DX	19 129 110	-2,6%	19 634 654	66,8%	11 772 957
Tax and social security liabilities	DY	10 647 806	57,9%	6 745 447	3,4%	6 523 748
Fixed asset liabilities	DZ	4 581 340	-21,9%	5 869 716	1440,9%	380 926
Other debts	EA	5 345 457	39,9%	3 821 334	66,2%	2 299 245

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	932 000	-23,4%	1 217 312	-18,9%	1 501 500

References

		31/12/2012		31/12/2011		31/12/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2012		31/12/2011		31/12/2010
Operating result (Total I-II)	GG	-15 652 880	-92,5%	-8 130 652	-1050,1%	855 800

2 - Financial result (V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	72 004	-77,1%	315 102	10,0%	286 360

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

		31/12/2012		31/12/2011		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-15 580 876	-99,4%	-7 815 550	-784,3%	1 142 160

4 - Extraordinary result (VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	819 588	-88,2%	6 942 578	156,2%	2 709 752

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	-14 761 287	-1654,0%	-841 562	-121,8%	3 851 914

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	85 358 891	-14,7%	100 104 472	-6,8%	107 374 860

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

		31/12/2012		31/12/2011		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	100 120 179	-0,8%	100 946 029	-2,5%	103 522 948

Operating income (I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	81 357 212	-10,7%	91 076 871	2,8%	88 638 275

Operating income (details)

		31/12/2012		31/12/2011		31/12/2010
Sale of goods for resale	FC	3 240	-83,5%	19 646	89,9%	10 346
France	FA	0	0%	19 202	0%	0
Export	FB	3 240	629,7%	444	-95,7%	10 346
Sale of goods produced	FF	64 454 167	-8,3%	70 280 709	10,2%	63 766 160
France	FD	21 931 595	-18,4%	26 876 000	15,8%	23 201 659
Export	FE	42 522 572	-2,0%	43 404 709	7,0%	40 564 501
Sale of services	FI	3 964 134	18,7%	3 338 338	61,3%	2 070 107
France	FG	1 569 331	23,3%	1 272 942	70,0%	748 865
Export	FH	2 394 803	15,9%	2 065 396	56,3%	1 321 242
Net turnover	FL	68 421 541	-7,1%	73 638 693	11,8%	65 846 613
France	FJ	23 500 926	-16,6%	28 168 144	17,6%	23 950 524
Export	FK	44 920 615	-1,2%	45 470 549	8,5%	41 896 089
Stocked production	FM	-921 200	-438,1%	272 499	-85,0%	1 818 387
Self-constructed assets	FN	131 894	-32,1%	194 159	50,2%	129 267
Operating grants	FO	12 302 752	-20,2%	15 408 500	-22,3%	19 832 398
Release of reserves and provisions	FP	1 422 206	-9,0%	1 562 680	54,5%	1 011 580
Other income	FQ	19	-94,4%	340	1033,3%	30

Operating charges (II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	97 010 092	-2,2%	99 207 523	13,0%	87 782 475

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	0	0%	100	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	33 741 614	-14,9%	39 637 618	14,8%	34 518 785
Change in stocks of raw materials	FV	1 137 362	196,8%	-1 174 538	-254,7%	-331 142
Other external purchases and charges	FW	27 957 760	16,5%	24 005 902	41,8%	16 929 103
Tax, duty and similar payments	FX	1 424 319	-6,2%	1 517 993	-39,2%	2 498 599
Payroll	FY	17 686 445	-12,4%	20 184 224	3,8%	19 446 279
Social security costs	FZ	8 451 870	-2,8%	8 695 384	-0,9%	8 773 304

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	4 357 627	-1,9%	4 442 079	-4,8%	4 665 933
Amortisation of fixed assets	GB	45 389	0%	0	0%	0
Depreciation/amortisation of current assets	GC	738 227	-22,5%	953 031	142,8%	392 495
Provisions for risks and charges	GD	1 468 963	55,3%	945 730	6,5%	888 246

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	516	0%	0	0%	873

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	146 525	-62,5%	391 189	33,5%	293 039
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	141 939	-63,6%	390 352	39,4%	279 968
Released provisions and transferred charges	GM	0	0%	98	0%	0
Exchange gains	GN	4 586	520,6%	739	-94,3%	13 071
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2010
Total financial charge (Total VI)	GU	74 521	-2,1%	76 087	1039,2%	6 679
Financial reserves and provisions	GQ	0	0%	0	0%	98
Interest and similar charges	GR	73 074	1,6%	71 943	1460,6%	4 610
Exchange losses	GS	1 447	-65,1%	4 144	110,2%	1 971
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary income (Total VII)	HD	3 855 154	-55,4%	8 636 412	-53,2%	18 443 546
Extraordinary operating income	HA	199 092	744,6%	23 571	-55,6%	53 118
Extraordinary income from capital transactions	HB	325 522	-22,6%	420 414	94,4%	216 292
Released provisions and transferred charges	HC	3 330 540	-59,3%	8 192 427	-54,9%	18 174 136

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary charges (Total VIII)	HH	3 035 566	79,2%	1 693 834	-89,2%	15 733 794
Extraordinary operating charges	HE	467 106	2189,4%	20 403	-82,2%	114 528
Extraordinary charges from capital transactions	HF	106 302	-32,4%	157 259	3648,7%	4 195
Extraordinary reserves and provisions	HG	2 462 158	62,4%	1 516 172	-90,3%	15 615 071

Employee profit sharing (IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	0	0%	-31 415	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other 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)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increases due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreases by budget item transfer	OK1	1 014 364	-35,6%	1 575 186	0%	0
Decreases by transfers	OK2	1 563 972	244,4%	454 174	-80,8%	2 361 417
Gross value at the end of period	OL	102 324 917	47,0%	69 605 652	21,1%	57 479 319

Research and development Charge (Total I)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	CZ	0	0%	0	0%	0
Increases due to revaluation	KB	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreases by budget item transfer	C01	0	0%	0	0%	0
Decreases by transfers	C02	0	0%	0	0%	0
Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	KD	15 808 182	9,8%	14 395 809	1,8%	14 136 823
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	1 316 993	-7,6%	1 424 836	101,4%	707 404
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	12 464	-97,2%	448 418
Gross value at the end of period	LW	17 125 175	8,3%	15 808 181	9,8%	14 395 809

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LN	53 655 621	24,8%	42 997 747	5,5%	40 744 897
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	33 976 029	168,1%	12 674 769	204,4%	4 163 650
Decreases by budget item transfer	NG1	1 014 364	-35,6%	1 575 186	0%	0
Decreases by transfers	NG2	1 563 973	254,1%	441 710	-76,9%	1 910 800
Gross value at the end of period	NH	85 053 313	58,5%	53 655 620	24,8%	42 997 747

Financial assets (Total IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LQ	141 849	65,4%	85 761	-1,3%	86 861
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	4 580	-91,8%	56 088	4998,9%	1 100
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	0	0%	2 200
Gross value at the end of period	NK	146 429	3,2%	141 849	65,4%	85 761

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

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	915 670	38,2%	662 570	70,6%	388 439
Increases		PF	1 324 855	423,5%	253 100	-7,7%	274 131
Decreases		PG	0	0%	0	0%	0
	Decreases by budget item transfer	PH	2 240 525	144,7%	915 670	38,2%	662 570

Total fixed assets amortisation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	21 236 134	22,4%	17 344 070	33,9%	12 956 773
Increases		QV	13 131 145	213,5%	4 188 979	-4,6%	4 391 802
Decreases		QW	214 286	-27,8%	296 914	6490,8%	4 505
	Decreases by budget item transfer	QX	34 152 993	60,8%	21 236 135	22,4%	17 344 070

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	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
	Decreases by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2012		31/12/2011		31/12/2010
	Net value at beginning of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7C	24 940 477	-19,8%	31 093 658	-6,2%	33 150 644
Increases		UB	9 669 147	183,1%	3 414 933	-79,8%	16 895 909
Decreases		UC	4 312 043	-54,9%	9 568 113	-49,5%	18 952 896
	Value at the end of period	UD	30 297 581	21,5%	24 940 478	-19,8%	31 093 657

Includes Total allocations

Operating	UE	0	0%	1 898 761	48,3%	1 280 740
Financial	UG	0	0%	0	0%	98
Exceptional	UJ	0	0%	1 516 172	-90,3%	15 615 071

Includes Total Withdrawal

Operating	UF	0	0%	1 375 588	76,6%	778 759
Financial	UH	0	0%	98	0%	0
Exceptional	UK	0	0%	8 192 427	-54,9%	18 174 136

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	5Z	11 429 190	-35,2%	17 631 667	-7,6%	19 081 147
Increases		TV	8 037 780	226,5%	2 461 902	-47,9%	4 727 171
Decreases		TW	4 312 043	-50,2%	8 664 379	40,3%	6 176 651
	Value at the end of period	TX	15 154 927	32,6%	11 429 190	-35,2%	17 631 667

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7B	13 511 287	0,4%	13 461 991	-4,3%	14 069 496
Increases		TY	1 631 367	71,2%	953 031	-92,2%	12 168 739
Decreases		TZ	0	0%	903 734	-92,9%	12 776 244
	Value at the end of period	UA	15 142 654	12,1%	13 511 288	0,4%	13 461 991

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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	13 800 402	-50,4%	27 816 300	-13,2%	32 045 650
1 year at most	VU	13 335 372	-51,5%	27 493 851	-14,1%	32 010 540
More than one year	VV	465 030	44,2%	322 449	818,4%	35 110

State of loans

		31/12/2012		31/12/2011		31/12/2010
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	146 429	3,2%	141 849	65,4%	85 761
Other financial assets (1 year at most)	UV	91 429	63,0%	56 088	-34,6%	85 761

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	410 030	73,2%	236 688	574,1%	35 110
Other claims customer	UX	7 088 186	13,5%	6 244 414	-11,9%	7 086 701
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	2 755	-60,6%	6 984	-58,8%	16 969
Social Security and other social organizations	UZ	5 746	398,4%	1 153	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	3 310 905	10,1%	3 006 109	-47,7%	5 743 295
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	867 311	38,0%	628 324	1448,9%	40 565
Group and Associates	VC	5 170	-100,0%	15 932 111	-14,8%	18 700 000
Accounts receivable (including claims relating to the operation of pension titles)	VR	1 763 908	21,7%	1 449 730	478,8%	250 455

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	199 962	18,4%	168 937	94,6%	86 794

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	42 981 966	15,3%	37 288 463	65,9%	22 478 375
1 year at most		VZ2	42 981 966	15,3%	37 288 463	65,9%	22 478 375
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

			31/12/2012		31/12/2011		31/12/2010
	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	986 759	0%	0	0%	0
1 year at most		VG2	986 759	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	1 359 493	0%	0	0%	0
1 year at most		8A2	1 359 493	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	19 129 110	-2,6%	19 634 654	66,8%	11 772 957
1 year at most		8B2	19 129 110	-2,6%	19 634 654	66,8%	11 772 957
More than 1 year and 5 years at most		8B3	19 129 110	-2,6%	19 634 654	66,8%	11 772 957
	Personnel and associated accounts (gross)	8C1	4 333 535	51,1%	2 868 544	-1,2%	2 903 351
1 year at most		8C2	4 333 535	51,1%	2 868 544	-1,2%	2 903 351
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	5 051 038	67,2%	3 021 041	-1,2%	3 057 440
1 year at most		8D2	5 051 038	67,2%	3 021 041	-1,2%	3 057 440
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	25 851	1,5%	25 475	1156,8%	2 027
1 year at most		VW2	25 851	1,5%	25 475	1156,8%	2 027
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	1 237 382	49,0%	830 388	48,0%	560 930
1 year at most		VQ2	1 237 382	49,0%	830 388	48,0%	560 930
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	4 581 340	-21,9%	5 869 716	1440,9%	380 926
1 year at most		8J2	4 581 340	-21,9%	5 869 716	1440,9%	380 926
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	5 345 457	39,9%	3 821 334	66,2%	2 299 245
1 year at most		8K2	5 345 457	39,9%	3 821 334	66,2%	2 299 245
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	932 000	-23,4%	1 217 312	-18,9%	1 501 500
1 year at most		8L2	932 000	-23,4%	1 217 312	-18,9%	1 501 500
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	390	-4,4%	408	-5,6%	432

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
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

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Fixed Asset Financing	0,87	-24,3%	1,15	-17,3%	1,39	1,46	-40,4%
Global Debt	238 days	30,8%	182 days	48,0%	123 days	153 days	55,6%
Working Capital Fund overall net	-68 days	-236,0%	50 days	-59,3%	123 days	98 days	-169,4%
Financial independence	2407,56%	-	%	-	%	2874,28%	-16,2%
More ratios
Solvability	28,26%	-31,9%	41,48%	-7,5%	44,84%	45,92%	-38,5%
Capacity debt futures	2407,56%	-	%	-	%	5094,28%	-52,7%
Coverage of current assets by net working capital overall	-38,81%	-285,4%	20,93%	-56,7%	48,35%	45,60%	-185,1%
General Liquidity	0,31	-58,1%	0,74	-47,9%	1,42	0,79	-60,8%
Restricted Liquidity	0,33	-65,3%	0,95	-39,5%	1,57	1,05	-68,6%

Management or rotation

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Need background in operating working capital	-68 days	-525,0%	16 days	-85,8%	113 days	55 days	-223,6%
Treasury	4 days	-89,7%	39 days	116,7%	18 days	13 days	-69,2%
Inventory turnover of goods	days	-	0 days	-	days	51 days	-
Average length of credit granted to customers	39 days	21,9%	32 days	-17,9%	39 days	66 days	-40,9%
Average length of credit obtained suppliers	110 days	-2,7%	113 days	36,1%	83 days	78 days	41,0%
More ratios
Inventory turnover of raw materials in industrial enterprises	113 days	50,7%	75 days	7,1%	70 days	86 days	31,4%
Inventory turnover of intermediate and finished products in the industrial enterprise	80 days	-41,6%	137 days	-10,5%	153 days	316 days	-74,7%
Rotation tangible assets	80,45%	-41,4%	137,24%	-10,4%	153,14%	326,38%	-75,4%

Profitability of the business

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Margin trading	0%	0%	0,03%	50,0%	0,02	0%	0%
Profitability of the business	-15,29	-236,0%	-4,55	-151,7%	8,80	6,52%	-334,5%
Net profit	-21,57%	-1792,1%	-1,14%	-119,5%	5,85%	3,20%	-774,1%
More ratios
Growth rate of turnover (excluding VAT)	-7,08%	-159,8%	11,83%	184,1%	-14,06%	3,65%	-294,0%
Rates integration	7,01%	-55,6%	15,80%	-37,6%	25,33%	34,38%	-79,6%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	545,06%	119,6%	248,19%	46,7%	169,21%	65,66%	730,1%
Weight interests	0,11	10,0%	0,10%	900%	0,01%	0,43%	-74,4%

Return on capital

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Cash flow from the overall profitability	-11,86%	-85,3%	-6,40%	-184,9%	7,54%	6,62%	-279,2%
Rates of economic profitability	-40%	-300%	-10%	-155,6%	18%	14%	-385,7%
Financial profitability	23756813%	-31,2%	34531275%	5,9%	32607535%	3250377%	630,9%
Return on investment	-56,26%	-2434,2%	-2,22%	-118,8%	11,83%	7,97%	-805,9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Turnover	68 421 541	-7,1%	73 638 693	11,8%	65 846 613	11 981 824 €	471,0%

Sales of goods	3 240	-83,5%	19 646	89,9%	10 346
- Purchase of goods	0	0%	100	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	3 240 €	-83,4%	19 546 €	88,9%	10 346 €	0 €	0%
	0,00 % CA	0%	0,03 % CA	50,0%	0,02 % CA	0 % CA	0%

Sale of goods produced	68 418 301	-7,1%	73 619 047	11,8%	65 836 267
+/- Stocked production	-921 200	-438,1%	272 499	-85,0%	1 818 387
+ Self-constructed assets	131 894	-32,1%	194 159	50,2%	129 267
Period production	67 628 995 €	-8,7%	74 085 705 €	9,3%	67 783 921 €	10 832 326 €	524,3%
	98,84 % CA	-1,8%	100,61 % CA	-2,3%	102,94 % CA	98,62 % CA	0,2%

Trading margin	3 240	-83,4%	19 546	88,9%	10 346	0	0%
+ Period Production	67 628 995	-8,7%	74 085 705	9,3%	67 783 921	10 832 326	524,3%
- Purchase of raw materials	33 741 614	-14,9%	39 637 618	14,8%	34 518 785
+/- Change in stocks of raw materiels	1 137 362	196,8%	-1 174 538	-254,7%	-331 142
- Other external purchases and charges	27 957 760	16,5%	24 005 902	41,8%	16 929 103
Added value	4 795 499 €	-58,8%	11 636 269 €	-30,2%	16 677 521 €	3 292 280 €	45,7%
	7,01 % CA	-55,6%	15,80 % CA	-37,6%	25,33 % CA	34,38 % CA	-79,6%

Added value	4 795 499 €	-58,8%	11 636 269 €	-30,2%	16 677 521 €	3 292 280 €	45,7%
+ Operating grants	12 302 752	-20,2%	15 408 500	-22,3%	19 832 398
- Tax, duty and similar payments	1 424 319	-6,2%	1 517 993	-39,2%	2 498 599
- Personal charges	26 138 315	-9,5%	28 879 608	2,3%	28 219 583
Gross operating surplus	-10 464 383 €	-212,1%	-3 352 832 €	-157,9%	5 791 737 €	544 337 €	-2022,4%
	-15,29 % CA	-236,0%	-4,55 % CA	-151,7%	8,80 % CA	6,52 % CA	-334,5%

Gross operating surplus	-10 464 383 €	-212,1%	-3 352 832 €	-157,9%	5 791 737 €	544 337 €	-2022,4%
+ Release of reserves and provisions	1 422 206	-9,0%	1 562 680	54,5%	1 011 580
+ Other operating income	19	-94,4%	340	1033,3%	30
- Depreciation/Amortisation	6 610 206	4,2%	6 340 840	6,6%	5 946 674
- Other charges	516	0%	0	0%	873
Operating result	-15 652 880 €	-92,5%	-8 130 652 €	-1050,1%	855 800 €	287 515 €	-5544,2%
	-22,88 % CA	-107,2%	-11,04 % CA	-949,2%	1,30 % CA	3,80 % CA	-702,1%

Operating result	-15 652 880 €	-92,5%	-8 130 652 €	-1050,1%	855 800 €	287 515 €	-5544,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	146 525	-62,5%	391 189	33,5%	293 039
- Financial charges	74 521	-2,1%	76 087	1039,2%	6 679
Pre-tax result	-15 580 876 €	-99,4%	-7 815 550 €	-784,3%	1 142 160 €	236 132 €	-6698,4%
	-22,77 % CA	-114,6%	-10,61 % CA	-713,3%	1,73 % CA	3,75 % CA	-707,2%

Extraordinary income	3 855 154	-55,4%	8 636 412	-53,2%	18 443 546	34 047	11223,0%
- Extraordinary charges	3 035 566	79,2%	1 693 834	-89,2%	15 733 794
Extraordinary result	819 588 €	-88,2%	6 942 578 €	156,2%	2 709 752 €	0 €	0%
	1,20 % CA	-87,3%	9,43 % CA	128,9%	4 % CA	0 % CA	0%

Pre-tax result	-15 580 876 €	-99,4%	-7 815 550 €	-784,3%	1 142 160 €	236 132 €	-6698,4%
Extraordinary result	819 588 €	-88,2%	6 942 578 €	156,2%	2 709 752 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	-31 415	0%	0
Net result	-14 761 288 €	-1654,0%	-841 557 €	-121,8%	3 851 912 €	239 665 €	-6259,1%
	-21,57 % CA	-1792,1%	-1,14 % CA	-119,5%	5,85 % CA	3,20 % CA	-774,1%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Fabrication de préparations pharmaceutiques (2120Z)
RCS Registration	RCS Orleans 0 493 414 403	Share capital	53,235,930 Euros
Registration Court	Orleans (45)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 7B00209	EUR VAT Number	FR38493414403
Incorporation Date	12/2006	Formation Date	01/2007
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Fabrication de préparations pharmaceutiques (2120Z)	Business Pages FT®
Postal Address	FAMAR ORLEANS FARMAR ORLEANS - MCNEIL MANUFACTURING 5 AV DE CONCYR 45071 ORLEANS CEDEX 2	Trading Address	5 AVENUE DE CONCYR 45100 ORLEANS
Telephone	02 38 64 19 51
Fax	02 38 63 36 29

Type	Head office	Status	Economically active
Formation Date	01/2007	Reason for formation	Purchase
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Manufacture, production	Activity Location	Plant
Location surface		Seasonality

Department	Loiret (45)	Region	Centre
District	2	Area	99
City	ORLEANS	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> FAMAR ORLEANS <<<  - Fabrication de préparations pharmaceutiques (2120Z)  in ORLEANS  (45100)
Secondary establishments	>  FAMAR ORLEANS  - Fabrication de préparations pharmaceutiques (2120Z)  in ISSY LES MOULINEAUX  (92130)

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

250 to 499 employees

Company workforce

250 to 499 employees

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
12/09/2013	JAL	Appointment of the social representative
Courrier du Loiret (Le) Date de décision : 29/07/2013 Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Monsieur Loïc DE TARADE, 37420 BEAUMONT EN VERON En la fonction de : Directeur général
12/09/2013	JAL	Resignation / Revocation of the social representative
Courrier du Loiret (Le) Date de décision : 29/07/2013 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Monsieur Régis MARTIN
12/09/2013	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
Courrier du Loiret (Le) Date de décision : 29/07/2013 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 493414403 -  FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Date d'effet : 29/07/2013
09/09/2013	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 7436 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
17/05/2013	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 940 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Directeur général, Pharmacien responsable : ASCIONE Michèle Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : CHAUMARTIN-ROESCH Anik. Capital : 53235930 EUR. Activité : . Commentaires : Modification survenue sur le capital, l'administration et Scission - L236-1 à compter du 31/12/2012 : Personne(s) morale(s) ayant participé à l'opération : FAMAR FRANCE, Société par actions simplifiée (SAS), 1 avenue du Champ de Mars 45072 ORLEANS CEDEX 2 (RCS ORLEANS (4502) 434 534 541).
03/01/2013	JAL	Appointment of the social representative
Courrier du Loiret (Le) Date de décision : 31/12/2012 Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Madame Christine CHARPENTIER, 45100 ORLEANS Nominé : Madame Christine CHARPENTIER, 45100 ORLEANS
03/01/2013	JAL	Resignation / Revocation of the social representative
Courrier du Loiret (Le) Date de décision : 31/12/2012 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Madame Michèle ASCIONE, 1 Rue du Cheval Rouge, 45000, ORLEANS, De Madame Michèle ASCIONE, 1 Rue du Cheval Rouge, 45000, ORLEANS, De Monsieur Hendrick DUQUESNE
03/01/2013	JAL	Modification of the share capital
Courrier du Loiret (Le) Date de décision : 31/12/2012 La société : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS a subi une augmentation de son capital social désormais de 53 235 930 € Date d'effet : 01/01/2013
22/08/2012	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 7993 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
10/08/2012	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 1554 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : CHAUMARTIN-ROESCH Anik. Activité : . Commentaires : Modification survenue sur l'administration.
23/02/2012	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 638 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Capital : 52188150 EUR. Activité : . Commentaires : Modification survenue sur le capital.
06/09/2010	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 5270 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
05/08/2010	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 1471 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Commentaires : Modification survenue sur l'administration.
22/07/2010	JAL	Appointment of the social representative
LE COURRIER DU LOIRET Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : En la fonction de : Présidente
22/07/2010	JAL	Appointment of the social representative
LE COURRIER DU LOIRET Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Monsieur Régis MARTIN, 1 ALLEE DES HARAS, 92380 GARCHES En la fonction de : DG - Directeur Général
22/07/2010	JAL	Resignation / Revocation of the social representative
LE COURRIER DU LOIRET Date de décision : 25/06/2010 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Monsieur Georgios ENGLEZAKIS-GELNTZAKIS
26/08/2009	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 1773 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : ENGLEZAKIS Georgios Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Commentaires : Modification survenue sur l'administration.
06/08/2009	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 446 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Enseigne : Famar Orléans - McNeil Manufacturing. Administration : Président : ENGLEZAKIS Georgios Directeur général pharmacien responsable : SOULARD Dominique Pierre Emmanuel Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Adresse du siège social : 5 avenue de Concyr, 45071 Orléans Cedex 2. Commentaires : Modification survenue sur l'administration, la dénomination, le nom commercial et transfert du siège social.
05/06/2009	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 11042 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
03/12/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9858 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
29/07/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 8033 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
31/05/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1714 - 493 414 403 RCS Nanterre. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDITCommissaire aux comptes suppléant : BORIS Etienne. Président : DE BACKER Philippe en fonction le 09 Février 2007. Directeur général (pharmacien responsable) : DUQUESNE Hendrick en fonction le 22 Mai 2008. Commentaires : Modification de représentant.
15/01/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1722 - 493 414 403 RCS Nanterre. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : BORIS Etienne. Président : DE BACKER Philippe en fonction le 09 Février 2007. Directeur général (pharmacien responsable) : SOULARD Dominique en fonction le 29 Mars 2007. Commentaires : Modification de représentant.
01/08/2007	Bodacc B	Modifications et mutations diverses
1359 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Capital : 50 162 540 euros. Commentaires : modification survenue sur le capital (augmentation).
24/04/2007	Bodacc B	Modifications et mutations diverses
1521 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : nomination d'un directeur général et pharmacien responsable : SOULARD (Dominique).
18/03/2007	Bodacc A	Vente et cession
0861 - RCS Nanterre B 493 414 403. McNEIL MANUFACTURING. Forme : S.A.S. Adresse du siège social : 1 rue Camille-Desmoulins, 92130 Issy-les-Moulineaux. Etablissement principal - Activité : fabrication en France, pour la distribution sur le territoire et à l'étranger, de produits de soins de santé sans ordonnance, de produits de soins personnels, de cosmétiques de produits connexes et soumis à ordonnance ainsi que de médicaments vétérinaires . Adresse : 5 avenue de Concyr, 45100 Orléans. Etablissement principal acquis par achat au prix stipulé de 36 503 186 euros. Date de début d'activité : 26 janvier 2007. Précédent propriétaire : PFIZER HOLDING FRANCE. RCS Paris 612 009 936. Publication légale : Le Courrier du Loiret du 15 février 2007. Oppositions : au fonds.
28/02/2007	Bodacc B	Modifications et mutations diverses
1958 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : modification d'un directeur général : MAILLARD (Eric). Nomination du président : DE BACKER (Philippe).
11/01/2007	Bodacc A	Création d'établissement
1156 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Capital : 37 000 euros. Adresse du siège social : 1 rue Camille-Desmoulins, 92130 Issy-les-Moulineaux. Administration : président : MAILLARD (Eric). Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : BORIS (Etienne). Cette société se constitue , mais n'exploite provisoirement aucun établissement.

Company events history

Date	Description
18/10/2013	Update Rating
12/09/2013	Legal Gazette: Resignation / Revocation of the social representative
11/09/2013	Update Rating
11/09/2013	Update Limit
11/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
09/09/2013	Bodacc C : Deposit accounts notice
29/08/2013	Appointment/resignation of company officers
29/08/2013	Amendment
29/08/2013	Continuation of business despite loss of equity
29/07/2013	Legal Gazette: Continuation of activity
29/07/2013	Legal Gazette: Appointment of the social representative
18/07/2013	Update Limit
18/07/2013	Update Rating
05/07/2013	New shareholders detected
05/07/2013	New ultimate parent
05/07/2013	Application and court order
05/07/2013	Extension of term
17/05/2013	Bodacc B: Various editing or changing
06/05/2013	Capital increase
06/05/2013	Declaration of conformity
06/05/2013	Appointment/resignation of company officers
06/05/2013	Updated articles of association
06/05/2013	Amendment
06/05/2013	Partial contribution
03/01/2013	Legal Gazette: Resignation / Revocation of the social representative
31/12/2012	Legal Gazette: Appointment of the social representative
31/12/2012	Legal Gazette: Modification of the share capital
31/12/2012	New accounts available
21/12/2012	Audit or Management Report
25/10/2012	Amendment
25/10/2012	Application and court order
31/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
22/08/2012	Bodacc C : Deposit accounts notice
10/08/2012	Bodacc B: Various editing or changing
26/07/2012	Minutes of general meeting of shareholders
26/07/2012	New auditor
06/04/2012	New ultimate parent
06/04/2012	New parent detected
23/02/2012	Bodacc B: Various editing or changing
10/02/2012	Updated articles of association
10/02/2012	Minutes of general meeting of shareholders
10/02/2012	Declaration of conformity
10/02/2012	Capital increase
31/12/2011	New accounts available
31/12/2011	Modification to Establishment Address or Identifier
31/12/2011	Update of Company Workforce
23/12/2011	Audit or Management Report
01/12/2011	Amendment
01/12/2011	Application and court order
01/12/2011	Partial contribution
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
26/07/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
06/09/2010	Bodacc C : Deposit accounts notice
05/08/2010	Bodacc B: Various editing or changing
22/07/2010	Legal Gazette: Resignation / Revocation of the social representative
21/07/2010	Changement de Président (PDG, PCA)
21/07/2010	New chairman (CEO, CoB)
21/07/2010	Amendment
21/07/2010	Acte modificatif
25/06/2010	Legal Gazette: Appointment of the social representative
31/12/2009	New accounts available
26/08/2009	Bodacc B: Various editing or changing
12/08/2009	Acte modificatif
12/08/2009	Appointment/resignation of company officers
12/08/2009	Amendment
12/08/2009	Minutes of general meeting of shareholders
12/08/2009	Private document
12/08/2009	Correction of a material error
06/08/2009	Bodacc B: Various editing or changing
05/08/2009	Collection of preferential rights activated for this company
15/07/2009	Amendment
15/07/2009	Acte modificatif
15/07/2009	Updated articles of association
15/07/2009	Statuts mis à jour
15/07/2009	Minutes of general meeting of shareholders
15/07/2009	Appointment/resignation of company officers
15/07/2009	Private document
15/07/2009	New company name
15/07/2009	Changement de dénomination sociale
15/07/2009	Registration after transfer
15/07/2009	Registered office transferred inside jurisdiction of the Commercial Court
15/07/2009	Transfert du Siège dans le ressort du Tribunal de Commerce
30/06/2009	Transfer of Establishment
30/06/2009	Update of Company Head Office Identifier
30/06/2009	Update of Company Name
05/06/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
11/12/2008	Acte modificatif
11/12/2008	Private document
11/12/2008	Amendment
11/12/2008	Appointment/resignation of company officers
11/12/2008	Minutes of general meeting of shareholders
03/12/2008	Bodacc C : Deposit accounts notice
29/07/2008	Bodacc C : Deposit accounts notice
30/06/2008	Requête et Ordonnance
30/06/2008	Application and court order
30/06/2008	Extension of term
30/06/2008	Prorogation de durée
31/05/2008	Bodacc B: Various editing or changing
31/05/2008	New Bodacc B ads detected
22/05/2008	Modification du Conseil d'Administration
22/05/2008	Amendment
22/05/2008	Changes to the Board of Directors
22/05/2008	Nomination/démission des organes de gestion
22/05/2008	Acte modificatif
15/01/2008	Bodacc B: Various editing or changing
15/01/2008	New Bodacc B ads detected
20/12/2007	Changes to the Board of Directors
20/12/2007	Modification du Conseil d'Administration
20/12/2007	Private document
20/12/2007	Appointment/resignation of company officers
20/12/2007	Minutes of general meeting of shareholders
20/12/2007	Acte modificatif
20/12/2007	Amendment
09/07/2007	Acte modificatif
09/07/2007	Updated articles of association
09/07/2007	Rapport des Commissaires ou du Gérant
09/07/2007	Minutes of general meeting of shareholders
09/07/2007	Audit or Management Report
09/07/2007	Private document
09/07/2007	Capital increase
09/07/2007	Augmentation de Capital
09/07/2007	Statuts mis à jour
29/03/2007	Private document
29/03/2007	Appointment/resignation of company officers
29/03/2007	Minutes of general meeting of shareholders
29/03/2007	Modification du Conseil d'Administration
29/03/2007	Acte modificatif
09/02/2007	Modification de l'objet social
09/02/2007	Minutes of general meeting of shareholders
09/02/2007	Changement de Président (PDG, PCA)
09/02/2007	Change to corporate purpose
09/02/2007	Private document
09/02/2007	Statuts mis à jour
09/02/2007	Acte modificatif
09/02/2007	Updated articles of association
09/02/2007	Appointment/resignation of company officers
26/01/2007	Update of Company Concern status
26/01/2007	Update of Company Activity
26/01/2007	Formation of Establishment
19/12/2006	Certificat de dépôt des fonds
19/12/2006	Private document
19/12/2006	Company formation
19/12/2006	Formation de Société
19/12/2006	Acte modificatif
19/12/2006	Fund deposit certificate
19/12/2006	Statuts
19/12/2006	Articles of association

Establishment events history

Date	Description
11/09/2013	Update Rating
11/09/2013	Update Limit
07/09/2013	Update Rating
31/08/2012	Update Rating
07/04/2012	Update Rating
31/12/2011	Update of Establishment Address
31/12/2011	Modification of Head office Identification
31/12/2011	Update of Establishment Workforce
20/11/2010	Update Rating
03/09/2010	Update Rating
13/08/2010	Update Rating
23/07/2010	Update Rating
19/08/2009	Update of phone numbers
30/06/2009	Modification of Head office (after transfer)
15/06/2007	Update of phone numbers
26/01/2007	Formation of Establishment

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 return on total assets employed is -17.56
	The stock to turnover ratio is 23.12
	The creditor days are 102.05
	The pre-tax profit is -14,761,287 €
	The ratio total assets to total liabilities is 1,39
	The sales to current assets ratio is 2,28
	Department code with low risk rating
	Industry code with low risk rating
	The company has 3 directors
	Low risk workforce size
	The total assets are 84,058,214 €
	The risk provisions are 15,154,927 €
	The net turnover is 68,421,541 €
	The net current assets are 29,964,323 €
	The liabilities are 45,146,472 €
	The deviation in the gearing percentage over the last two accounting periods is 222.57 %
	The deviation of tangible fixed assets over the last two accounting periods is 156.87 %
	The shareholder's equity is 23,756,813 €

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.58
UK Pound	1	Rs.101.42
Euro	1	Rs.84.70

INFORMATION DETAILS

Report Prepared by :

NIS

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.