MIRA INFORM REPORT

Report Date :

01.08.2014

IDENTIFICATION DETAILS

Name :	OXBOW DISTRIBUTION
Registered Office :	20 Av Pythagore, 33700 Merignac
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	July 2005
Com. Reg. No.:	RCS Bordeaux 0 483 450 946
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	· Engaged in Selling Designer Clothing Sportswear for men, Women and Children Engaged in Buying, Selling & Leasing of all Articles, Clothing, Equipment and accessories for Surfing, Snowboarding, other Winter Sports Education & promotion of sports, recreation & Surf School.
No of Employees :	54 (31.12.2013)

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 – June 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 82 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 mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

company summary

Name

OXBOW DISTRIBUTION

SIRET

483 450 946 00015

		EUR VAT Number	FR23483450946
Activity (APE)	· Engaged in Selling Designer Clothing Sportswear for men, Women and Children Engaged in Buying, Selling & Leasing of all Articles, Clothing, Equipment and accessories for Surfing, Snowboarding, other Winter Sports Education & promotion of sports, recreation & Surf School.	Legal form	Simplified Joint Stock Company with Single Associate
Phone	05 56 18 40 00	RCS Registration	RCS Bordeaux 0 483 450 946
Fax		Share capital	2,777,761 Euros
Address	OXBOW DISTRIBUTION 20 AV PYTHAGORE 33700 MERIGNAC	Incorporated Date	08/2005
Nationality	France	Status	Economically active

Negative shareholders equity

No social security and tax office preferential right to date

Ultimate Holding Company

Company Name

CALIDA HOLDING AG

Current Directors

1

Trading to Date	12/31/2013	09/30/2013	09/30/2012
Turnover	1,966,920 €	9,386,665 €	9,365,226 €
Gross Operating Surplus	-0.41 % Turnover	-0.54 % Turnover	1.81 % Turnover
Shareholders’ equity	-104,676 €	403,009 €	1,450,145 €
Net result	-507,686 €	-1,047,134 €	-505,148 €
Employees	54 (31.12.2013)	-	-

Trends
Profitability
Liquidity
Net worth

Top of Form

company details

Activity (APE)	· Engaged in Selling Designer Clothing Sportswear for men, Women and Children Engaged in Buying, Selling & Leasing of all Articles, Clothing, Equipment and accessories for Surfing, Snowboarding, other Winter Sports Education & promotion of sports, recreation & Surf School.
RCS Registration	RCS Bordeaux 0 483 450 946	Share capital	2,777,761 Euros
Registration Court	Bordeaux (33)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 5B02326	EUR VAT Number	FR23483450946
Incorporation Date	08/2005	Formation Date	07/2005
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Establishment details

Postal Address	OXBOW DISTRIBUTION 20 AV PYTHAGORE 33700 MERIGNAC	Business Pages FT®	VETEMENTS POUR HOMMES (GRANDE TAILLE)
Telephone	05 56 18 40 00	Trading Address	20 AVENUE PYTHAGORE 33700 MERIGNAC
Activity (APE)	· Engaged in Selling Designer Clothing Sportswear for men, Women and Children Engaged in Buying, Selling & Leasing of all Articles, Clothing, Equipment and accessories for Surfing, Snowboarding, other Winter Sports Education & promotion of sports, recreation & Surf School.

Type	Head office	Status	Economically active
Formation Date	07/2005	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Gironde (33)	Region	Aquitaine
District	2	Area	98
City	MERIGNAC	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	17 branch entities in this company
Head office	> OXBOW DISTRIBUTION <<< - Commerce de détail d'articles de sport en magasin spécialisé (4764Z) in MERIGNAC (33700)
Secondary establishments	> OXBOW DISTRIBUTION - Commerce de détail d'articles de sport en magasin spécialisé (4764Z) in BORDEAUX (33000) > OXBOW DISTRIBUTION - Commerce de détail d'articles de sport en magasin spécialisé (4764Z) in BOURGES (18000) > OXBOW DISTRIBUTION - Commerce de détail d'articles de sport en magasin spécialisé (4764Z) in NICE (06000) > OXBOW DISTRIBUTION - Commerce de détail d'articles de sport en magasin spécialisé (4764Z) in VELIZY VILLACOUBLAY (78140) > ...

Regionality	Legal unit with multiple establishments in many areas but no one grouping more than 50% of workforce
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

54 (31.12.2013)

Company workforce

54 (31.12.2013)

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	30/09/2013	30/09/2012
Account period (month)	03	12	12
Account Type	Normal	Normal	Normal
Date of capture	26/06/2014	06/03/2014	16/04/2013
Activity Code	4764Z	4764Z	4764Z
Employees	54	41	48

Active account

Annual Accounts	31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	3,046,455	-2.7%	3,130,823	-10.0%	3,477,444	71,790.50	4143.5%
- Intangible assets	2,095,146	-0.3%	2,100,792	-16.5%	2,515,574	10,000	20851.5%
- Tangible assets	774,052	-9.9%	859,194	10.9%	774,804	25,095	2984.5%
- Financial assets	177,256	3.8%	170,835	-8.7%	187,066	1,983.50	8836.5%
Net current assets	2,444,075	47.0%	1,663,180	-37.7%	2,667,618	172,425.50	1317.5%
- Stocks	531,592	-11.3%	599,275	-67.3%	1,831,369	83,859	533.9%
- Advanced payments	0	47.0%	0	0%	0	0	0%
- Receivables	758,668	-27.3%	1,043,359	29.0%	809,029	19,144.50	3862.9%
- Securities and cash	1,153,813	5516.3%	20,544	-24.5%	27,220	22,113.50	5117.7%
- Prepaid expenses	-	-	-	-	-	895	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	5,490,530	14.5%	4,794,003	-22.0%	6,145,065	284,059.50	1832.9%

Passive Account

Annual Accounts	31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Shareholders' equity	-104,676	-126.0%	403,009	-72.2%	1,450,145	76,096.50	-237.6%
Share capital	2,777,761	0%	2,777,761	0%	2,777,761	10,000	27677.6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	39,586	35.9%	29,137	710.3%	3,596	0	0%
Liabilities	5,555,621	27.4%	4,361,857	-7.0%	4,691,322	171,758	3134.6%
- Financial liabilities	3,292,327	264.0%	904,363	-61.3%	2,336,663	54,182.50	5976.4%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	1,126,548	-53.2%	2,409,383	31.3%	1,835,681	35,295.50	3091.8%
- Tax and social liabilities	301,814	1.6%	297,050	-8.1%	323,180	30,378	893.5%
- Other debts and fixed assets liabilities	834,929	11.2%	751,057	283.6%	195,798	5,913	14020.2%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	5,490,530	14.5%	4,794,003	-22.0%	6,145,065	284,059.50	1832.9%

Results

Annual Accounts	31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Sales of Goods	2,912,841	-69.2%	9,453,554	0.2%	9,433,131	395,879	635.8%
Net turnover	1,966,920	-79.0%	9,386,665	0.2%	9,365,226	390,909.50	403.2%
- of which net export turnover	0	0%	0	0%	0	0	0%
Operating charges	3,356,414	-69.0%	10,841,175	9.6%	9,893,175	383,762	774.6%
Operating profit/loss	-443,573	68.0%	-1,387,620	-201.6%	-460,044	10,099.50	-4492.0%
Financial income	0	0%	0	0%	0	33	0%
Financial charges	2,098	-93.1%	30,613	-29.0%	43,104	1,816.50	15.5%
Financial profit/loss	-2,098	93.1%	-30,613	29.0%	-43,104	-1,003	-109.2%
Pretax net operating income	-445,671	68.6%	-1,418,234	-181.9%	-503,148	7,822	-5797.7%
Extraordinary income	0	0%	1,035,036	0%	0	98.50	0%
Extraordinary charges	62,014	-90.7%	663,938	33096.9%	2,000	241	25632.0%
Extraordinary profit/loss	-62,014	-116.7%	371,098	18654.9%	-2,000	0	0%
Net result	-507,686	51.5%	-1,047,134	-107.3%	-505,148	7,632.50	-6751.6%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2013	30/09/2013	30/09/2012
Months	03	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		30/09/2013		30/09/2012
	Grand Total (I to VI)	Net	5,490,530	14.5%	4,794,003	-22.0%	6,145,065
	Gross	CO	9,858,931	9.7%	8,986,735	-7.6%	9,728,990
	Amortisation	1A	4,368,400	4.2%	4,192,732	17.0%	3,583,925

Non declared distributed capital (I)

		31/12/2013		30/09/2013		30/09/2012
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2013		30/09/2013		30/09/2012
	Total Active fixed asset (II)	Net	3,046,455	-2.7%	3,130,823	-10.0%	3,477,444
	Gross	BJ	6,139,855	-4.0%	6,397,555	-9.0%	7,033,411
	Amortisation	BK	3,093,400	-5.3%	3,266,732	-8.1%	3,555,967

Intangible fixed assets

			31/12/2013		30/09/2013		30/09/2012
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	2,011,641	0%	2,011,641	-19.9%	2,510,391
	Gross	AH	2,011,641	0%	2,011,641	-19.9%	2,510,391
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	83,505	-6.3%	89,151	1620.1%	5,183
	Gross	AJ	138,540	0%	138,540	237.6%	41,040
	Amortisation	AK	55,035	11.4%	49,389	37.7%	35,857
	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	2,095,146	-0.3%	2,100,792	-16.5%	2,515,574

Tangible fixed assets

			31/12/2013		30/09/2013		30/09/2012
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	0	0%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	774,052	-9.9%	859,194	10.9%	774,804
	Gross	AT	3,812,417	-6.5%	4,076,538	-5.1%	4,294,914
	Amortisation	AU	3,038,365	-5.6%	3,217,343	-8.6%	3,520,110
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	774,052		859,194		774,804

Financial assets

			31/12/2013		30/09/2013		30/09/2012
	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	27,535	20.1%	22,921	30.6%	17,546
	Gross	BF	27,535	0%	22,921	0%	17,546
	Amortisation	BG	0		0		0
	Other financial assets	Net	149,721	1.2%	147,914	-12.7%	169,520
	Gross	BH	149,721	1.2%	147,914	-12.7%	169,520
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		177,256		170,835		187,066

Current Assets (III)

			31/12/2013		30/09/2013		30/09/2012
	Total Assets	Net	2,444,075	47.0%	1,663,180	-37.7%	2,667,618
	Gross	CJ	3,719,075	43.6%	2,589,180	-3.9%	2,695,575
	Amortisation	CK	1,275,000	37.7%	926,000	3212.2%	27,957

Stocks

			31/12/2013		30/09/2013		30/09/2012
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	531,592	-11.3%	599,275	-67.3%	1,831,369
	Gross	BT	1,806,592	18.4%	1,525,275	-16.7%	1,831,369
	Amortisation	BU	1,275,000	37.7%	926,000	0%	0
	Sub Total Stocks	Net	531,592	-11.3%	599,275	-67.3%	1,831,369

Advance payments to suppliers

			31/12/2013		30/09/2013		30/09/2012
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		30/09/2013		30/09/2012
	Trade accounts receivable	Net	35,173	10.3%	31,896	-54.3%	69,739
	Gross	BX	35,173	10.3%	31,896	-67.4%	97,696
	Amortisation	BY	0	0%	0	0%	27,957
	Other debtors	Net	437,824	-35.2%	675,847	46.6%	461,018
	Gross	BZ	437,824	-35.2%	675,847	46.6%	461,018
	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	472,997	-33.2%	707,743	33.3%	530,757

Divers

			31/12/2013		30/09/2013		30/09/2012
	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	1,153,813	5516.3%	20,544	-24.5%	27,220
	Gross	CF	1,153,813	5516.3%	20,544	-24.5%	27,220
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	1,153,813	5516.3%	20,544	-24.5%	27,220

Prepaid expenses

			31/12/2013		30/09/2013		30/09/2012
	Prepaid expenses	Net	285,671	-14.9%	335,616	20.6%	278,272
	Gross	CH	285,671	-14.9%	335,616	20.6%	278,272
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		30/09/2013		30/09/2012
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/12/2013		30/09/2013		30/09/2012
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)

		31/12/2013		30/09/2013		30/09/2012
Grand Total (I to V)	EE	5,490,530	14.5%	4,794,003	-22.0%	6,145,065

Shareholder Equity (I)

			31/12/2013		30/09/2013		30/09/2012
	Total shareholders' equity (Total I)	DL	-104,676	-126.0%	403,009	-72.2%	1,450,145
	Equity and shareholders' equity	DA	2,777,761	0%	2,777,761	0%	2,777,761
	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	0	0%	0	0%	0
	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	494,851	0%	494,851	-50.5%	1,000,000
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-2,869,603	-57.5%	-1,822,468	0%	-1,822,468
	Profit or loss for the period	DI	-507,686	51.5%	-1,047,134	-107.3%	-505,148
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2013		30/09/2013		30/09/2012
	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)

			31/12/2013		30/09/2013		30/09/2012
	Total provisions for risks and charges (Total III)	DR	39,586	35.9%	29,137	710.3%	3,596
	Risk provisions	DP	32,000	28.0%	25,000	0%	0
	Reserves for charges	DQ	7,586	83.4%	4,137	15.0%	3,596

Liabilities (IV)

			31/12/2013		30/09/2013		30/09/2012
	Total Liabilities (Total IV)	EC	5,555,621	27.4%	4,361,857	-7.0%	4,691,322
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	106,098	-48.8%	207,267
	Sundry loans and financial liabilities	DV	3,292,327	312.4%	798,265	-62.5%	2,129,396
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	1,126,548	-53.2%	2,409,383	31.3%	1,835,681
	Tax and social security liabilities	DY	301,814	1.6%	297,050	-8.1%	323,180
	Fixed asset liabilities	DZ	62,581	1.1%	61,926	0%	0
	Other debts	EA	772,348	12.1%	689,131	252.0%	195,798

Translation loss (V)

		31/12/2013		30/09/2013		30/09/2012
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2013		30/09/2013		30/09/2012
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2013		30/09/2013		30/09/2012
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	5,555,621	27.4%	4,361,857	-7.0%	4,691,322
Of which current bank facilities	EH	0	0%	106,098	-48.8%	207,267

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)

		31/12/2013		30/09/2013		30/09/2012
Operating result (Total I-II)	GG	-443,573	68.0%	-1,387,620	-201.6%	-460,044

2 -Financial result(V - VI)

		31/12/2013		30/09/2013		30/09/2012
Financial result (Total V-VI)	GV	-2,098	93.1%	-30,613	29.0%	-43,104

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

		31/12/2013		30/09/2013		30/09/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-445,671	68.6%	-1,418,234	-181.9%	-503,148

4 -Extraordinary result(VII-VIII)

		31/12/2013		30/09/2013		30/09/2012
Extraordinary result (Total VII-VIII)	HI	-62,014	-116.7%	371,098	18654.9%	-2,000

Profit or loss

		31/12/2013		30/09/2013		30/09/2012
Profit or loss	HN	-507,686	51.5%	-1,047,134	-107.3%	-505,148

Total Income (I+III+V+VII)

		31/12/2013		30/09/2013		30/09/2012
Total Income (I+III+V+VII)	HL	2,912,841	-72.2%	10,488,591	11.2%	9,433,131

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

		31/12/2013		30/09/2013		30/09/2012
Total charges (Total II+IV+VI+VIII+IX+X)	HM	3,420,528	-70.3%	11,535,726	16.1%	9,938,279

Operating income(I)

		31/12/2013		30/09/2013		30/09/2012
Total operating income (Total I)	FR	2,912,841	-69.2%	9,453,554	0.2%	9,433,131

Operating income (details)

			31/12/2013		30/09/2013		30/09/2012
	Sale of goods for resale	FC	2,131,832	-77.4%	9,431,924	-1.9%	9,615,562
	France	FA	2,131,832	-77.4%	9,431,924	-1.9%	9,615,562
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	-165,810	-255.5%	-46,637	81.5%	-251,425
	France	FD	-165,810	-255.5%	-46,637	81.5%	-251,425
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	898	-34.8%	1,378	26.5%	1,089
	France	FG	898	-34.8%	1,378	26.5%	1,089
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	1,966,920	-79.0%	9,386,665	0.2%	9,365,226
	France	FJ	1,966,920	-79.0%	9,386,665	0.2%	9,365,226
	Export	FK	0	0%	0	0%	0
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	944,791	1478.8%	59,843	-6.9%	64,261
	Other income	FQ	1,129	-84.0%	7,045	93.3%	3,644

Operating charges(II)

		31/12/2013		30/09/2013		30/09/2012
Total operating charges (Total II)	GF	3,356,414	-69.0%	10,841,175	9.6%	9,893,175

Exploitation charges

		31/12/2013		30/09/2013		30/09/2012
Purchase of goods for resale	FS	1,093,284	-75.0%	4,366,560	-14.1%	5,084,178
Change in stocks of goods for resale	FT	-281,317	-191.9%	306,093	174.9%	-408,637
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	697,240	-79.3%	3,368,584	20.4%	2,798,165
Tax, duty and similar payments	FX	70,433	-51.6%	145,453	-16.6%	174,456
Payroll	FY	295,835	-66.6%	886,751	-19.0%	1,094,460
Social security costs	FZ	99,550	-72.7%	363,996	-19.6%	452,688

Depreciation

		31/12/2013		30/09/2013		30/09/2012
Depreciation of fixed assets	GA	97,643	-77.2%	428,120	-34.3%	651,488
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1,275,000	37.7%	926,000	3212.2%	27,957
Provisions for risks and charges	GD	3,643	263.2%	1,003	69.7%	591

Other charges

		31/12/2013		30/09/2013		30/09/2012
Other charges	GE	5,101	-89.5%	48,610	172.6%	17,829

Operating charges (III-IV)

		31/12/2013		30/09/2013		30/09/2012
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)

			31/12/2013		30/09/2013		30/09/2012
	Total financial income (Total V)	GP	0	0%	0	0%	0
	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	0	0%	0	0%	0
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2013		30/09/2013		30/09/2012
	Total financial charge (Total VI)	GU	2,098	-93.1%	30,613	-29.0%	43,104
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	2,098	-93.1%	30,613	-29.0%	43,104
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/12/2013		30/09/2013		30/09/2012
	Total extraordinary income (Total VII)	HD	0	0%	1,035,036	0%	0
	Extraordinary operating income	HA	0	0%	36	0%	0
	Extraordinary income from capital transactions	HB	0	0%	1,035,000	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges(VIII)

			31/12/2013		30/09/2013		30/09/2012
	Total extraordinary charges (Total VIII)	HH	62,014	-90.7%	663,938	33096.9%	2,000
	Extraordinary operating charges	HE	0	0%	03	-99.8%	2,000
	Extraordinary charges from capital transactions	HF	24,064	-96.2%	638,933	0%	0
	Extraordinary reserves and provisions	HG	37,950	51.8%	25,000	0%	0

Employee profit sharing(IX)

		31/12/2013		30/09/2013		30/09/2012
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/12/2013		30/09/2013		30/09/2012
Tax on profits (Total X)	HK	0	0%	0	0%	0

References

		31/12/2013		30/09/2013		30/09/2012
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	18,597	-40.8%	31,424	-50.1%	62,928
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	1,464	-66.7%	4,393	-67.6%	13,578

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)

			31/12/2013		30/09/2013		30/09/2012
	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	326,335	-76.9%	1,410,059	4058.6%	33,907
	Gross value at the end of period	OL	6,139,856	-4.0%	6,397,556	-9.0%	7,033,413

Research and development Charge (Total I)

			31/12/2013		30/09/2013		30/09/2012
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets(Total II)

			31/12/2013		30/09/2013		30/09/2012
	Gross value at begin of period	KD	2,150,181	-15.7%	2,551,431	3.5%	2,464,981
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	158,479	83.3%	86,450
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	559,729	0%	0
	Gross value at the end of period	LW	2,150,181	0%	2,150,181	-15.7%	2,551,431

Tangible fixed assets (Total III)

			31/12/2013		30/09/2013		30/09/2012
	Gross value at begin of period	LN	4,076,538	-5.1%	4,294,914	4.3%	4,117,439
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	61,869	-89.3%	578,184	173.5%	211,381
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	325,990	-59.1%	796,560	2249.3%	33,906
	Gross value at the end of period	NH	3,812,417	-6.5%	4,076,538	-5.1%	4,294,914

Financial assets (Total IV)

			31/12/2013		30/09/2013		30/09/2012
	Gross value at begin of period	LQ	170,835	-8.7%	187,067	10.5%	169,253
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	6,766	-82.0%	37,538	110.7%	17,813
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	345	-99.4%	53,770	0%	0
	Gross value at the end of period	NK	177,256	3.8%	170,835	-8.7%	187,066

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

			31/12/2013		30/09/2013		30/09/2012
	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)

			31/12/2013		30/09/2013		30/09/2012
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2013		30/09/2013		30/09/2012
	Reserve for depreciation value at begin of period	PE	49,389	0%	0	0%	32,498
Increases		PF	5,646	0%	0	0%	3,358
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	55,035	0%	0	0%	35,856

Total fixed assets amotisation(Total III)

			31/12/2013		30/09/2013		30/09/2012
	Reserve for depreciation value at begin of period	QU	3,217,342	0%	0	0%	2,905,887
Increases		QV	122,947	0%	0	0%	648,129
Decreases		QW	301,925	0%	0	0%	33,906
	Decreasess by budget item transfer	QX	3,038,364	0%	0	0%	3,520,110

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		30/09/2013		30/09/2012
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2013		30/09/2013		30/09/2012
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2013		30/09/2013		30/09/2012
	Value at begining of period	7C	955,137	2927.1%	31,553	627.4%	4,338
Increases		UB	1,285,643	35.0%	952,003	3234.7%	28,548
Decreases		UC	926,193	3159.1%	28,419	2032.0%	1,333
	Value at the end of period	UD	1,314,586	37.6%	955,137	2927.1%	31,553

Includes Total allocations

Operating	UE	1,278,643	37.9%	927,003	3147.2%	28,548
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	7,000	-72.0%	25,000	0%	0

Includes Total Withdrawal

Operating	UF	926,193	3159.1%	28,419	2032.0%	1,333
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2013		30/09/2013		30/09/2012
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2013		30/09/2013		30/09/2012
	Value at begining of period	5Z	29,137	710.3%	3,596	-17.1%	4,338
Increases		TV	10,643	-59.1%	26,003	4299.8%	591
Decreases		TW	193	-58.2%	462	-65.3%	1,333
	Value at the end of period	TX	39,586	35.9%	29,137	710.3%	3,596

Total Provision for depreciation (Total III)

			31/12/2013		30/09/2013		30/09/2012
	Value at begining of period	7B	926,000	3212.2%	27,957	0%	0
Increases		TY	1,275,000	37.7%	926,000	3212.2%	27,957
Decreases		TZ	926,000	3212.2%	27,957	0%	0
	Value at the end of period	UA	1,275,000	37.7%	926,000	3212.2%	27,957

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

		31/12/2013		30/09/2013		30/09/2012
Gross value	VT	935,925	-22.9%	1,214,192	18.6%	1,024,054
1 year at most	VU	935,925	-22.9%	1,214,192	18.6%	1,024,054
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2013		30/09/2013		30/09/2012
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	27,535	20.1%	22,921	30.6%	17,546
Loans (1 year at most)	UR	27,535	20.1%	22,921	30.6%	17,546
Other financial assets (gross)	UT	149,721	1.2%	147,914	-12.7%	169,520
Other financial assets (1 year at most)	UV	149,721	1.2%	147,914	-12.7%	169,520

Receivables statement of assets

		31/12/2013		30/09/2013		30/09/2012
Customers doubtful or disputed	VA	0	0%	0	0%	33,436
Other claims customer	UX	35,173	10.3%	31,896	-50.4%	64,260
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	5,858	-7.3%	6,321	143.1%	2,600
Social Security and other social organizations	UZ	1,184	82.7%	648	-94.9%	12,771
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	221,704	-22.8%	287,027	132.2%	123,615
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	25,322	0%	0
Group and Associates	VC	35,186	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	173,891	-51.2%	356,527	10.7%	322,030

Prepaid

		31/12/2013		30/09/2013		30/09/2012
Prepaid	VS	285,671	-14.9%	335,616	20.6%	278,272

State Debt

			31/12/2013		30/09/2013		30/09/2012
	Total debt (gross)	VY	5,555,621	27.4%	4,361,853	-7.0%	4,691,324
1 year at most		VZ2	5,555,621	27.4%	4,361,853	-7.0%	4,691,324
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

			31/12/2013		30/09/2013		30/09/2012
	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%	106,098	-48.8%	207,267
1 year at most		VG2	0	0%	106,098	-48.8%	207,267
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	3,292,327	312.4%	798,265	-62.5%	2,129,396
1 year at most		8A2	3,292,327	312.4%	798,265	-62.5%	2,129,396
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	1,126,548	-53.2%	2,409,383	31.3%	1,835,681
1 year at most		8B2	1,126,548	-53.2%	2,409,383	31.3%	1,835,681
More than 1 year and 5 years at most		8B3	1,126,548	-53.2%	2,409,383	31.3%	1,835,681
	Personnel and associated accounts (gross)	8C1	96,761	16.3%	83,179	-41.9%	143,271
1 year at most		8C2	96,761	16.3%	83,179	-41.9%	143,271
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	146,603	10.1%	133,094	4.9%	126,858
1 year at most		8D2	146,603	10.1%	133,094	4.9%	126,858
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	24,439	-53.0%	52,002	111.3%	24,613
1 year at most		VW2	24,439	-53.0%	52,002	111.3%	24,613
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	34,009	18.2%	28,775	1.2%	28,436
1 year at most		VQ2	34,009	18.2%	28,775	1.2%	28,436
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	62,581	1.1%	61,926	0%	0
1 year at most		8J2	62,581	1.1%	61,926	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	772,348	12.1%	689,131	252.0%	195,798
1 year at most		8K2	772,348	12.1%	689,131	252.0%	195,798
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012
Average number of employees	YP	54	31.7%	41	-14.6%	48

Groups and Shareholders

		31/12/2013		30/09/2013		30/09/2012
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

		31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Fixed Asset Financing		1.03	47.1%	0.70	-31.4%	1.02	1.53	-32.7%
Global Debt		254days	52.1%	167days	-7.2%	180days	148days	71.6%
Working Capital Fund overall net		8days	111.0%	-73days	-1925.0%	4days	62days	-87.1%
Financial independence		%	-	379.85%	-45.7%	699.65%	157.37%	-
More ratios
Solvability		-1.91%	-122.7%	8.41%	-64.4%	23.60%	30.70%	-106.2%
Capacity debt futures		%	-	379.85%	-45.7%	699.65%	629.99%	-
Coverage of current assets by net working capital overall		5.27%	106.2%	-84.33%	-2029.7%	4.37%	44.48%	-88.2%
General Liquidity		0.17	-39.3%	0.28	27.3%	0.22	0.15	13.3%
Restricted Liquidity		0.38	35.7%	0.28	27.3%	0.22	0.44	-13.6%

Management or rotation

		31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Need background in operating working capital		-58days	29.3%	-82days	0%	0days	26days	-323.1%
Treasury		53days	1866.7%	-3days	57.1%	-7days	4days	1225.0%
Inventory turnover of goods		801days	578.8%	118days	-16.3%	141days	164days	388.4%
Average length of credit granted to customers		6days	500%	1days	-75.0%	4days	2days	200%
Average length of credit obtained suppliers		269days	149.1%	108days	22.7%	88days	45days	497.8%
More ratios
Inventory turnover of raw materials in industrial enterprises		days	-	days	-	days	0days	-
Inventory turnover of intermediate and finished products in the industrial enterprise		52days	-77.4%	230days	5.5%	218days	620days	-91.6%
Rotation tangible assets		51.59%	-77.6%	230.26%	5.6%	218.05%	496.96%	-89.6%

Profitability of the business

		31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Margin trading		67.10%	32.3%	50.70%	-3.9%	52.75	29.40%	128.2%
Profitability of the business		-0.41	24.1%	-0.54	-129.8%	1.81	5.02%	-108.2%
Net profit		-25.81%	-131.3%	-11.16%	-107.1%	-5.39%	2.08%	-1340.9%
More ratios
Growth rate of turnover (excluding VAT)		-79.05%	-34469.6%	0.23%	-96.6%	6.82%	0.90%	-8883.3%
Rates integration		23.27%	62.4%	14.33%	-29.1%	20.20%	22.95%	1.4%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		86.38%	-7.1%	92.96%	13.7%	81.79%	68.15%	26.7%
Weight interests		0.11	-66.7%	0.33%	-28.3%	0.46%	0.45%	-75.6%

Return on capital

		31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Cash flow from the overall profitability		-64.78%	-497.1%	-10.85%	-800%	1.55%	4.40%	-1572.3%
Rates of economic profitability		0%	0%	-4%	-200%	4%	14%	0%
Financial profitability		-104676%	-126.0%	403009%	-72.2%	1450145%	29957.50%	-449.4%
Return on investment		-15.86%	79.6%	-77.75%	-537.3%	-12.20%	7.15%	-321.8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		30/09/2013		30/09/2012	Sector Median2013
Turnover	1,966,920	-79.0%	9,386,665	0.2%	9,365,226	390,910 €	403.2%

Sales of goods	2,131,832	-77.4%	9,431,924	-1.9%	9,615,562
- Purchase of goods	1,093,284	-75.0%	4,366,560	-14.1%	5,084,178
+/- Stock of goods variation	-281,317	-191.9%	306,093	174.9%	-408,637
Trading margin	1,319,865 €	-72.3%	4,759,271 €	-3.7%	4,940,021 €	100,844.50 €	1208.8%
	67.10 % CA	32.3%	50.70 % CA	-3.9%	52.75 % CA	29.67 % CA	126.2%

Sale of goods produced	-164,912	-264.4%	-45,259	81.9%	-250,336
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	-164,912 €	-264.4%	-45,259 €	81.9%	-250,336 €	14,342.50 €	-1249.8%
	-8.38 % CA	-1645.8%	-0.48 % CA	82.0%	-2.67 % CA	5.58 % CA	-250.2%

Trading margin	1,319,865	-72.3%	4,759,271	-3.7%	4,940,021	100,844.50	1208.8%
+ Period Production	-164,912	-264.4%	-45,259	81.9%	-250,336	14,342.50	-1249.8%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	697,240	-79.3%	3,368,584	20.4%	2,798,165
Added value	457,713 €	-66.0%	1,345,428 €	-28.9%	1,891,520 €	106,256 €	330.8%
	23.27 % CA	62.4%	14.33 % CA	-29.1%	20.20 % CA	22.95 % CA	1.4%

Added value	457,713 €	-66.0%	1,345,428 €	-28.9%	1,891,520 €	106,256 €	330.8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	70,433	-51.6%	145,453	-16.6%	174,456
- Personal charges	395,385	-68.4%	1,250,747	-19.2%	1,547,148
Gross operating surplus	-8,105 €	84.0%	-50,772 €	-129.9%	169,916 €	20,772 €	-139.0%
	-0.41 % CA	24.1%	-0.54 % CA	-129.8%	1.81 % CA	5.02 % CA	-108.2%

Gross operating surplus	-8,105 €	84.0%	-50,772 €	-129.9%	169,916 €	20,772 €	-139.0%
+ Release of reserves and provisions	944,791	1478.8%	59,843	-6.9%	64,261
+ Other operating income	1,129	-84.0%	7,045	93.3%	3,644
- Depreciation/Amortisation	1,376,286	1.6%	1,355,123	99.3%	680,036
- Other charges	5,101	-89.5%	48,610	172.6%	17,829
Operating result	-443,572 €	68.0%	-1,387,617 €	-201.6%	-460,044 €	10,099.50 €	-4492.0%
	-22.55 % CA	-52.6%	-14.78 % CA	-201.0%	-4.91 % CA	2.56 % CA	-980.9%

Operating result	-443,572 €	68.0%	-1,387,617 €	-201.6%	-460,044 €	10,099.50 €	-4492.0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	0	0%	0	0%	0
- Financial charges	2,098	-93.1%	30,613	-29.0%	43,104
Pre-tax result	-445,670 €	68.6%	-1,418,230 €	-181.9%	-503,148 €	7,801 €	-5813.0%
	-22.66 % CA	-50.0%	-15.11 % CA	-181.4%	-5.37 % CA	2.16 % CA	-1149.1%

Extraordinary income	0	0%	1,035,036	0%	0	98.50	0%
- Extraordinary charges	62,014	-90.7%	663,938	33096.9%	2,000
Extraordinary result	-62,014 €	-116.7%	371,098 €	18654.9%	-2,000 €	0 €	0%
	-3.15 % CA	-179.7%	3.95 % CA	19850.0%	0 % CA	0 % CA	0%

Pre-tax result	-445,670 €	68.6%	-1,418,230 €	-181.9%	-503,148 €	7,801 €	-5813.0%
Extraordinary result	-62,014 €	-116.7%	371,098 €	18654.9%	-2,000 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	0	0%	0
Net result	-507,684 €	51.5%	-1,047,132 €	-107.3%	-505,148 €	7,608.50 €	-6772.6%
	-25.81 % CA	-131.3%	-11.16 % CA	-107.1%	-5.39 % CA	2.07 % CA	-1346.9%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	10/07/2009
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	CALIDA HOLDING AG
Direct parent	OXBOW - 100 %
Group – Number of companies	33
Linkages – Number of companies	12
Number of countries	8

Group Structure

Go directly to the current company

Display only where participation % > 33 %

Display all participations

This company is a part of several groups, choose the group you wish to see the structure

Display the group

CALIDA HOLDING AG

loading data...

Company Name	SIREN	Parts	Last account published
CALIDA HOLDING AG	-	-	-
LAFUMA SA	380192807	59.92%	30/09/2007
LAFPROM	393708748	100%	31/12/2013
LAFPROM HONG KONG LTD	-	98%	-
OBER	524584067	100%	31/12/2013
LAFPROM TUNISIE	-	99.99%	-
L.W.A.	-	100%	-
BIG PACK NEW TECHNOLOGY	-	100%	-
MILLET	400313318	100%	31/12/2013
SCI EVEREST	451115380	100%	-
LAFUMA GROUP GMBH	HRB 230372	100%	30/09/2012
BIG PACK FAR EAST OUTDOOR PRODUC...	-	55%	-
LAFUMA HONG KONG LTD	-	99%	-
LAFUMA OUTDOOR TRADING	-	99%	-
LALLEMAND SAS	773201108	100%	31/12/2013
SCI LE CHEVRIL	316807239	100%	-
LAFUMA MILLET K.K.	-	100%	-
L.M.O. S.R.L.	TV281039	100%	31/12/2013
LAFUMA CHINA TRADING CO LTD	-	100%	-
LAFUMA GROUP	691277	100%	30/09/2012
PACCARD DIFFUSION	379675044	100%	31/12/2013
LAFUMA HUNGARIA KFT	-	100%	-
LAFUMA AMERICA	US12738278	100%	-
OXBOW	332349232	90%	31/12/2013
OXBOW DISTRIBUTION	483450946	100%	31/12/2013
LAFUMA B.V.	31046799	100%	31/12/2013
EIDER	796480374	100%	31/12/2013
SHERPA LOGISTIQUE	439531005	100%	31/12/2013
KANION	-	51%	-
CALIDA AG	-	100%	-
CALIDA FRANCE	434378956	100%	31/12/2013
AUBADE PARIS	775695901	100%	31/12/2013
SOC IMMOBILIERE PARTICIP.BEAUSOLEIL ...	552050775	100%	31/12/2012

ShareholdersShareholders

Linkages

Ultimate parent company	CALIDA HOLDING AG
Direct parent	OXBOW - 100 %
Group – Number of companies	33
Linkages – Number of companies	12
Number of countries	8
Company Name		SIREN	Last account	Turnover
LAFUMA SA		380192807	30/09/2007	97 723 000 €
CALIDA GMBH		HRB 703166	31/12/2012	-
CONSORZIO AUBADE		PG219116	31/12/2011	912 €
AUBADE PARIS UK LTD		03821444	31/12/2012	1 598 521 £
CALIDA AG		19406	-	-
CALIDA HOLDING AG		19407	-	-
BELAUBADE SA		451952395	31/12/2012	4 475 519 €
CALIDA FINANCE AG		586565	-	-
AUBADE PARIS DEUTSCHLAND GMBH		HRB 10326	-	-
CALIDA OF SWITZERLAND, INC		US45581444	-	0 $
CALIDA HOLDING AG		-	-	-
LAFUMA SA		-	-	-

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
05/07/2014	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 3651 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
30/06/2014	Bodacc A	Vente et cession : Acheteur
76 - SEINE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE ROUEN 897 - 483 450 946 RCS Bordeaux. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Capital : 2777761 EUR. Adresse : 20 avenue Pythagore, 33700 Mérignac. Origine du fonds : Fonds acquis par achat au prix stipulé de 250000 Euros. Etablissement : Etablissement secondaire. Activité : Vente au détail de vêtements prêts à porter et accessoires. Adresse : 68 rue du Général Leclerc, 76000 Rouen. Précédent propriétaire : BIG AIR. 438 369 019 RCS Rouen. Date de commencement de l’activité : 19/05/2014. Publication légale : Les Affiches de Normandie du 11/06/2014. Oppositions : Au fonds de commerce cédé pour la validité et correspondance chez Maître Nicolas KOHEN, avocat, 30 cours Marigny à Vincennes (94300). Descriptif : . Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
27/06/2014	Bodacc B	Modification et mutation diverse
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 321 - 483 450 946 RCS Bordeaux. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Administration : Président : LAFUMA SA modification le 19 Juin 2014 Commissaire aux comptes suppléant : AUDITEX en fonction le 19 Juin 2014 Commissaire aux comptes titulaire : ERNST & YOUNG et Autres en fonction le 19 Juin 2014. Activité : . Commentaires : Modification de représentant.
11/06/2014	JAL	Activity or goodwill cession: Buyer
Affiches de normandie (Les) Date de décision : 19/05/2014 Cédant : 438369019 - BIG AIR, OXBOW, 68 RUE DU GENERAL LECLERC, 76000 ROUEN Cessionnaire : 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Prix de vente : 250000 € Date d’effet : 19/05/2014
27/03/2014	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2829 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2013.
07/02/2014	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
Echos Judiciaires Girondins (Les) Date de décision : 30/01/2014 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Date d'effet : 30/01/2014
29/04/2013	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2958 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2012.
17/04/2013	JAL	Start of rent-management
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 24/12/2012 Bailleur : 450915764 - 2NDSKY SHOP, 44 CHEMIN EL CANO, 64210 GUETHARY Locataire gérant : 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Date d’effet : 01/01/2013 pour une durée de 2 mois
16/04/2013	JAL	Appointment of the social representative
Echos Judiciaires Girondins (Les) Date de décision : 20/03/2013 Société faisant l'objet d'une nomination : 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Nominé : Non renseignée LAFUMA SA, 26140 ANNEYRON En la fonction de : Président
16/04/2013	JAL	Resignation / Revocation of the social representative
Echos Judiciaires Girondins (Les) Date de décision : 20/03/2013 La société 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Fait l'objet du départ de Monsieur Philippe JOFFARD
04/01/2013	JAL	Start of rent-management
Journal de Saint-Palais (Le) Date de décision : 24/12/2012 Bailleur : 450915764 - 2NDSKY SHOP, 44 CHEMIN EL CANO, 64210 GUETHARY Locataire gérant : 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Date d’effet : 01/01/2013 pour une durée de 2 mois
26/04/2012	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 3587 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2011.
27/11/2011	Bodacc A	Vente et cession : Acheteur
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 580 - 483 450 946 RCS Lille. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore, 33700 Mérignac. Origine du fonds : Etablissement secondaire acquis par achat au prix stipulé de 90.000,00 EUR. Etablissement : Etablissement secondaire. Activité : Commerce de détail de tous articles et vêtements de sports, de voyages et de loisirs. Adresse : 6 rue des Fossés, 59000 Lille. Précédent propriétaire : WAVERIDER. 517 964 169 RCS Lille. A dater du : 21/11/2011. Date de commencement de l’activité : 17/10/2011. Publication légale : L'Observateur du 18/11/2011. Oppositions : Cabinet Bignon Lebray 4 rue des Canonniers 59000 Lille. Descriptif : Achat ou apport. Commentaires : Achat d'un établissement secondaire ou complémentaire par une personne morale. Date d’effet : 17/10/2011.
24/11/2011	Bodacc A	Vente et cession : Acheteur
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE 703 - 483 450 946 RCS Lille. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Capital : 2777761 EUR. Adresse : 20 avenue de Pythagore, 33700 Mérignac. Origine du fonds : Fonds acquis par achat au prix stipulé de 90.000,00 EUR. Etablissement : Etablissement secondaire. Activité : Vente de vêtements, d'articles et accessoires de sport, de loisir et de nautisme. Adresse : 6 rue des Fossés, 59000 Lille. Précédent propriétaire : WAVERIDER. 517 964 169 RCS Lille. Date de commencement de l’activité : 01/01/0001. Publication légale : L'Observateur du 18/11/2011. Oppositions : Cabinet BIGNON LEBRAY, Me THOMAS BUFFIN 4 rue des Canonniers à LILLE pour la validité. Descriptif : Pr¿cision : Oppositions: pour toute correspondance au cabinet BIGNON LEBRAY, Me Corinne MALAPERT 2 rue Gr¿l¿e 69289 LYON CEDEX 02. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire). Date d’effet : 17/10/2011.
18/11/2011	JAL	Activity or goodwill cession
Observateur de l'avesnois (L') Date de décision : 17/10/2011 Cédant : 517964169 - WAVERIDER, 22 RUE GEORGES BRASSENS, 76260 MONCHY SUR EU Cessionnaire : 483450946 - OXBOW DISTRIBUTION, 20 AV PYTHAGORE, 33700 MERIGNAC Prix de vente : 90000 € Date d’effet : 17/10/2011
28/03/2011	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 3033 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2010.
11/01/2011	Bodacc B	Modification et mutation diverse
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 1091 - 483 450 946 RCS Bordeaux. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Capital : 2777761 EUR. Activité : . Commentaires : Modification du capital.
03/06/2010	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2719 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2009.
24/06/2009	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2800 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2008.
02/06/2008	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 3085 - 483450946 RCS. OXBOW DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 20 avenue de Pythagore 33700 Mérignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2007.
07/10/2007	Bodacc A	Vente et cession
242 - RCS Bordeaux 483 450 946. OXBOW DISTRIBUTION. Forme : S.A.S. Capital : 136 575 euros. Adresse du siège social : 20 rue de Pythagore, 33695 Mérignac Cedex. Administration : président : JOFFARD (Philippe). Etablissement secondaire - Enseigne : Oxbow. Activité : vente de vêtements griffés sportwear pour hommes, femmes ou enfants à partir de quatre ans de marque > Oxbow <. Adresse : cité Europe, 62231 Coquelles. Etablissement secondaire acquis par achat au prix stipulé de 450 000 euros. Date de début d'activité : 3 septembre 2007. Précédent propriétaire : B.M.F. RCS Calais 421 805 821. Publication légale : La Gazette Nord-Pas de Calais du 15 septembre 2007. Oppositions : S.C.P. Capelle Sénéchal Roger, 20 boulevard La Fayette, 62100 Calais.
19/06/2007	Bodacc A	Vente et cession
0482 - RCS Dax B 483 450 946. RC 07-B 205. OXBOW DISTRIBUTION. Forme : S.A.S. Activité : commerce au détail de tous articles, de vêtements de sport, de voyage et de loisirs. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Etablissement secondaire - Adresse : villa Les Sables, avenue Lahary, 40150 Soorts-Hossegor. Etablissement complémentaire acquis par achat au prix stipulé de 300 000 euros. Etablissement complémentaire : Activité : achat, vente, location de tous articles, vêtements, matériels et accessoires de surf, snowboard et autres sports de glisse enseignement et promotion de la pratique des sports et loisirs, école de surf . Adresse : 92 rue des Rémouleurs, zone artisanale Pedebert, 40150 Soorts-Hossegor. Date de début d'activité : 1er mars 2007. Date d'effet : 13 avril 2007. Précédent propriétaire exploitant : S.A.S. KM 22. RCS Dax B 411 238 520. Publication légale : Les Petites affiches landaises du 28 avril 2007. Oppositions : Me Mounaix (Hélène), notaire, 168 route de Bayonne, 40300 Peyrehorade.
24/05/2007	Bodacc C	Avis de dépôt des comptes
2463 - RCS Bordeaux B 483 450 946. RC 05-B 2326. OXBOW DISTRIBUTION. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 20, avenue de Pythagore,33700 Merignac. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2006.
13/05/2007	Bodacc A	Vente et cession
0932 - RCS B 483 450 946. RC 07-B 205. OXBOW DISTRIBUTION. Forme : S.A.S. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Etablissement secondaire - Activité : commerce au détail de tous articles, de vêtements de sport, de voyage et de loisirs. Adresse : villa Les Sables, avenue Lahary, 40150 Soorts-Hossegor. Etablissement secondaire acquis par achat au prix stipulé de 300 000 euros. Date de début d'activité : 1er mars 2007. Précédent propriétaire : KM 22. RCS B 411 238 520. Publication légale : Les Petites affiches landaises du 7 avril 2007. Oppositions : Me Mounaix (Hélène), notaire associé, 168 route de Bayonne, 40301 Peyrehorade Cedex.
28/12/2006	Bodacc A	Vente et cession
1554 - RCS B 483 450 946. RC 06-B 7019. OXBOW DISTRIBUTION. Forme : S.A.S. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Etablissement secondaire - Activité : commerce au détail de tous articles, de vêtements de sport, de voyages et de loisirs. Adresse : Quai des Marques, 8-10 quai du Chatelier, 93450 L'Ile-Saint-Denis. Etablissement secondaire acquis par achat au prix stipulé de 150 000 euros. Date de début d'activité : 1er décembre 2006. Précédent propriétaire : LE HANGAR BIS. RCS 434 495 735. Publication légale : Les Petites affiches du 30 novembre 2006. Oppositions : au fonds, pour la validité et Cabinet de Me Courregelongue (Rémy), 2 rue du 49e-Régiment-d'Infanterie, 64100 Bayonne, pour la correspondance.
27/10/2006	Bodacc A	Vente et cession
0110 - RCS B 483 450 946. RC 06-B 619. OXBOW DISTRIBUTION. Forme : S.A.S. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Etablissement secondaire - Activité : commerce au détail de tous articles, de vêtements de sport, de voyage et de loisirs. Adresse : 18 rue Saint-Yon, 17000 La Rochelle. Etablissement secondaire acquis par achat au prix stipulé de 230 000 euros. Date de début d'activité : 30 août 2006. Précédent propriétaire : WILOX. RCS B 432 903 854. Publication légale : Le Littoral du 8 septembre 2006. Oppositions : Cabinet Banette-Conan, 30 avenue du Général-Leclerc, 17000 La Rochelle.
13/06/2006	Bodacc B	Modifications et mutations diverses
0936 - RCS Bordeaux B 483 450 946. RC 05-B 2326. OXBOW DISTRIBUTION. Forme : S.A.S. Capital : 136 575 euros. Commentaires : modification survenue sur le capital (augmentation).
04/06/2006	Bodacc A	Vente et cession
1754 - RCS B 483 450 946. RC 06-B 159. OXBOW DISTRIBUTION. Forme : S.A.S. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Etablissement secondaire - Activité : commerce au détail de tous articles, de vêtements de sport, de voyage et de loisirs. Adresse : 20 rue du Consulat, 87000 Limoges. Etablissement secondaire acquis par achat au prix stipulé de 125 000 euros. Date d'effet : 10 avril 2006. Précédent propriétaire : K STYLE S.A.R.L. RCS Limoges B 348 917 568. Publication légale : Le Populaire du Centre du 21 avril 2006. Oppositions : au fonds pour la validité et M. et Mme Gourbat (Jean, Michel), 22 rue Château-Gaillard, 87000 Limoges, pour la correspondance.
20/05/2006	Bodacc C	Avis de dépôt des comptes
2333 - RCS Bordeaux B 483 450 946. RC 05-B 2326. OXBOW DISTRIBUTION. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 20, avenue de Pythagore,33700 Merignac. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2005.
09/12/2005	Bodacc B	Modifications et mutations diverses
682 - RCS Bordeaux B 483 450 946. RC 05-B 2326. OXBOW DISTRIBUTION. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : directeur général partant : LEROY DE LA TOURNELLE (Dominique, Marie, Claude, Florent, Nicolas).
16/08/2005	Bodacc A	Création d'établissement
533 - RCS Bordeaux B 483 450 946. RC 05-B 2326. OXBOW DISTRIBUTION. Forme : S.A.S. Capital : 37 000 euros. Activité : vente au détail de tous articles, de vêtements de sport, de voyage et de loisirs. Adresse du siège social : 20 avenue de Pythagore, 33700 Mérignac. Administration : président : JOFFARD (Philippe, Gabriel, Pierre). Directeur général : LEROY DE LA TOURNELLE (Dominique, Marie, Claude, Florent, Nicolas). Commissaire aux comptes titulaire : DELOITTE & ASSOCIES. Commissaire aux comptes suppléant : BEAS. Cette société se constitue . Date de début d'activité : 1er juillet 2005.

Company events history

Date	Description
05/07/2014	Bodacc C : Deposit accounts notice
30/06/2014	Bodacc A : Sale and transfer
27/06/2014	Update Rating
27/06/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
27/06/2014	Bodacc B: Various editing or changing
19/06/2014	Amendment
19/06/2014	Power of attorney
19/06/2014	New auditor
07/06/2014	Update Rating
19/05/2014	Legal Gazette: Activity or goodwill cession: Buyer
03/05/2014	Update Rating
27/03/2014	Bodacc C : Deposit accounts notice
08/03/2014	Update Rating
07/03/2014	Update Rating
07/03/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
06/03/2014	Amendment
06/03/2014	Continuation of business despite loss of equity
06/03/2014	Power of attorney
07/02/2014	New ultimate parent
30/01/2014	Modification to Company Identifier
30/01/2014	Update of Company Legal Form
30/01/2014	Update of Company Workforce
30/01/2014	Legal Gazette: Continuation of activity
31/12/2013	New accounts available
26/10/2013	Update Rating
26/10/2013	Update Limit
23/10/2013	Amendment
23/10/2013	New closing date
23/10/2013	Updated articles of association
23/10/2013	Power of attorney
17/10/2013	Update Rating
17/10/2013	Update Limit
30/09/2013	New accounts available
28/08/2013	Update Rating
13/05/2013	New chairman (CEO, CoB)
13/05/2013	Amendment
13/05/2013	Power of attorney
13/05/2013	Updated articles of association
29/04/2013	Bodacc C : Deposit accounts notice
17/04/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
16/04/2013	Legal Gazette: Resignation / Revocation of the social representative
20/03/2013	Legal Gazette: Appointment of the social representative
24/12/2012	Legal Gazette: Start of rent-management
30/09/2012	New accounts available
04/05/2012	Payment incident closed
01/05/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
26/04/2012	Bodacc C : Deposit accounts notice
03/04/2012	Amendment
03/04/2012	Updated articles of association
21/12/2011	Payment incident detected
27/11/2011	Bodacc A : Sale and transfer
24/11/2011	Bodacc A : Sale and transfer
17/10/2011	Legal Gazette: Activity or goodwill cession
30/09/2011	New accounts available
28/03/2011	Bodacc C : Deposit accounts notice
08/03/2011	Reconstitution de l'Actif Net
08/03/2011	Reconstitution of net assets
08/03/2011	Acte modificatif
08/03/2011	Amendment
11/01/2011	Bodacc B: Various editing or changing
02/12/2010	Power of attorney
02/12/2010	Capital increase
02/12/2010	Capital reduction
02/12/2010	Réduction de Capital
02/12/2010	Fund deposit certificate
02/12/2010	Acte modificatif
02/12/2010	Procuration
02/12/2010	Statuts mis à jour
02/12/2010	Updated articles of association
02/12/2010	Amendment
02/12/2010	Augmentation de Capital
30/09/2010	Other modification of Establishment
30/09/2010	New accounts available
03/06/2010	Bodacc C : Deposit accounts notice
22/04/2010	Amendment
22/04/2010	Procuration
22/04/2010	Power of attorney
22/04/2010	Updated articles of association
22/04/2010	Statuts mis à jour
22/04/2010	Acte modificatif
30/09/2009	New accounts available
30/09/2009	Closure of Establishment
30/09/2009	Update of Company Workforce
10/07/2009	Collection of preferential rights activated for this company
24/06/2009	Bodacc C : Deposit accounts notice
30/09/2008	New accounts available
02/06/2008	Bodacc C : Deposit accounts notice
18/04/2008	Updated articles of association
18/04/2008	Amendment
18/04/2008	Statuts mis à jour
18/04/2008	Minutes of general meeting of shareholders
18/04/2008	Private document
18/04/2008	Acte modificatif
30/09/2007	New accounts available
03/09/2007	Formation of Establishment
01/03/2007	Formation of Establishment
30/09/2006	New accounts available
22/05/2006	Apport Partiel
22/05/2006	Acte modificatif
22/05/2006	Procuration
22/05/2006	Statuts mis à jour
22/05/2006	Déclaration de conformité
22/05/2006	Continuation malgré perte supérieure à la moitié du capital
22/05/2006	Augmentation de Capital
22/05/2006	Projet de Fusion
12/04/2006	Private document
12/04/2006	Acte sous seing privé
12/04/2006	Audit or Management Report
12/04/2006	Rapport des Commissaires ou du Gérant
14/03/2006	Apport Partiel
14/03/2006	Private document
14/03/2006	Acte sous seing privé
14/03/2006	Planned merger
14/03/2006	Projet de Fusion
13/03/2006	Application and court order
13/03/2006	Requête et Ordonnance
13/03/2006	Acte modificatif
22/11/2005	Acte modificatif
22/11/2005	Procuration
22/11/2005	Updated articles of association
22/11/2005	Statuts mis à jour
22/11/2005	Modification du Conseil d'Administration
22/11/2005	PV d'Assemblée
22/11/2005	Minutes of general meeting of shareholders
22/11/2005	Acte sous seing privé
22/11/2005	Private document
22/11/2005	Changement de date de clôture
22/11/2005	New closing date
22/11/2005	Appointment/resignation of company officers
22/11/2005	Nomination/démission des organes de gestion
30/09/2005	New accounts available
04/08/2005	Statuts
04/08/2005	Articles of association
04/08/2005	Nomination/démission des organes de gestion
04/08/2005	Certificat de dépôt des fonds
04/08/2005	Private document
04/08/2005	Acte sous seing privé
04/08/2005	Company formation
04/08/2005	Formation de Société

Establishment events history

Date	Description
27/06/2014	Update Rating
27/06/2014	Update Limit
30/01/2014	Modification of Head office
05/09/2013	Update of phone numbers
06/01/2012	Update Limit
06/01/2012	Update Rating
28/12/2011	Update Limit
28/12/2011	Update Rating
03/12/2011	Update Rating
02/12/2011	Update Rating
05/05/2011	Update Rating
16/03/2011	Update Limit
16/03/2011	Update Rating
30/09/2009	Modification of Head office
24/06/2009	Update Rating
04/06/2009	Update Rating
10/07/2008	Update of phone numbers
13/01/2008	Update Limit
03/09/2007	Modification of Head office
01/03/2007	Modification of Head office

directors

Shareholder(s)

Name	LAFUMA SA
Name of representative
Manager position	President	Date of birth
Place of birth
Type	Moral person	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M PHILIPPE, GABRIEL, PIERRE JOFFARD	8/20/1955 - LYON
President	LAFUMA SA	- - -

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.25
UK Pound	1	Rs.101.92
Euro	1	Rs.80.70

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	MNL

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.