MIRA INFORM REPORT

Report Date :

21.08.2014

IDENTIFICATION DETAILS

Name :	QUIMDIS SA
Registered Office :	71 Rue Anatole France, 92300 Levallois Perret
Country :	France
Financials (as on) :	31.07.2013
Date of Incorporation :	September 1988
Legal Form :	Simplified joint stock company
Line of Business :	Wholesale (business to business) of chemicals (4675Z)
No. of Employees :	10 to 19

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No complaints
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – June 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 name

QUIMDIS SA

Top of Form

Personal comment

company summary

		EUR VAT Number	FR11347990442
Activity (APE)	Commerce de gros (commerce interentreprises) de produits chimiques (4675Z) (Wholesale (business to business) of chemicals (4675Z))	Legal form	Simplified joint stock company
Phone	01 55 46 50 00	RCS Registration	RCS Nanterre 8 347 990 442
Fax		Share capital	750,000 Euros
Address	QUIMDIS SA 71 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET	Incorporated Date	09/1988
Nationality	France	Status	Economically active

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number
QUIMDIS S. A. S	347990442

Current Directors

Trading to Date	07/31/2013	07/31/2012	07/31/2011
Turnover	73,093,359 €	64,884,276 €	63,523,467 €
Gross Operating Surplus	4.03 % Turnover	2.93 % Turnover	5.12 % Turnover
Shareholders’ equity	12,475,521 €	11,273,249 €	10,632,838 €
Net result	1,017,328 €	977,754 €	1,272,207 €
Employees	10 to 19 employees	-	-

Trends
Profitability
Liquidity
Net worth

company detail

Company details

Activity (APE)	Commerce de gros (commerce interentreprises) de produits chimiques (4675Z)
RCS Registration	RCS Nanterre 8 347 990 442	Share capital	750,000 Euros
Registration Court	Nanterre (92)	Legal form	Simplified joint stock company
Court Registry Number	19 8 8B03482	EUR VAT Number	FR11347990442
Incorporation Date	09/1988	Formation Date	08/1988
Deregistration Date		Last account Date	31/07/2013
Nationality	France

Ultimate Parent

2 ultimate parent company for this company > QUIMDIS SA - Commerce de gros (commerce interentreprises) de produits chimiques (4675Z) in LEVALLOIS PERRET (92300) > SOFIQUIM - Autres intermédiaires du commerce en produits divers (4619B) in LEVALLOIS PERRET (92300)

Establishment details

Activity (APE)	Commerce de gros (commerce interentreprises) de produits chimiques (4675Z)	Business Pages FT®	PRODUITS CHIMIQUES (FABRICATION, GROS)
Postal Address	QUIMDIS SA 71 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET	Trading Address	71 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET
Telephone	01 55 46 50 00
Fax

Type	Head office	Status	Economically active
Formation Date	04/2006	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Hauts-de-Seine (92)	Region	Ile-de-France
District	2	Area	95
City	LEVALLOIS PERRET	Size of urban area	Paris conglomeration

Other establishments

Branches	2 branch entities in this company
Head office	> QUIMDIS SA <<< - Commerce de gros (commerce interentreprises) de produits chimiques (4675Z) in LEVALLOIS PERRET (92300)
Secondary establishments	> QUIMDIS SA - Commerce de gros (commerce interentreprises) de produits chimiques (4675Z) in MOUANS SARTOUX (06370) > QUIMDIS SA - Commerce de gros de produits chimiques (515L) in LEVALLOIS PERRET (92300)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

Workforce unknown

Company workforce

10 to 19 employees

Finacial data

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/07/2013	31/07/2012	31/07/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	10/03/2014	31/07/2013	09/04/2012
Activity Code	4675Z	4675Z	4675Z
Employees	0	0	0

Active account

Annual Accounts	31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	2,749,671	4.9%	2,621,014	22.4%	2,141,283	76,404.50	3498.8%
- Intangible assets	431,660	3.0%	419,275	-1.0%	423,422	1,524	28224.1%
- Tangible assets	160,702	-2.9%	165,545	26.2%	131,204	26,218.50	512.9%
- Financial assets	2,157,308	5.9%	2,036,194	28.3%	1,586,657	4,457.50	48297.3%
Net current assets	27,716,705	-2.6%	28,454,129	9.8%	25,923,154	829,318.50	3242.1%
- Stocks	18,915,699	-9.3%	20,846,470	15.3%	18,081,366	97,986	19204.5%
- Advanced payments	672,624	-2.6%	754,522	-10.2%	840,240	0	0%
- Receivables	7,161,064	7.6%	6,656,164	2.0%	6,528,271	448,767.50	1495.7%
- Securities and cash	967,318	391.1%	196,973	-58.4%	473,277	89,349.50	982.6%
- Prepaid expenses	-	-	-	-	-	65	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	30,466,376	-2.0%	31,075,143	10.7%	28,064,438	969,464	3042.6%

Passive Account

Annual Accounts	31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Shareholders' equity	12,475,521	10.7%	11,273,249	6.0%	10,632,838	373,803.50	3237.5%
Share capital	750,000	0%	750,000	0%	750,000	50,000	1400%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	174,000	625.0%	24,000	-80.6%	124,000	0	0%
Liabilities	17,816,855	-9.9%	19,777,894	14.3%	17,307,600	545,833.50	3164.2%
- Financial liabilities	7,426,346	-24.5%	9,833,434	52.2%	6,461,995	48,560	15193.1%
- Advanced payments received	149,897	-32.6%	222,245	-37.9%	358,075	0	0%
- Trade account payables	7,967,705	0.3%	7,940,253	-6.4%	8,485,036	218,178	3551.9%
- Tax and social liabilities	1,322,946	11.8%	1,183,099	3.7%	1,140,390	96,222	1274.9%
- Other debts and fixed assets liabilities	949,961	58.6%	598,863	-30.5%	862,105	8,630.50	10907.0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	30,466,376	-2.0%	31,075,144	10.7%	28,064,438	969,464	3042.6%

Results

Annual Accounts	31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Sales of Goods	73,244,840	12.4%	65,179,647	2.5%	63,618,237	1,931,391	3692.3%
Net turnover	73,093,359	12.7%	64,884,276	2.1%	63,523,467	1,896,664.50	3753.8%
- of which net export turnover	36,441,554	27.6%	28,568,853	-29.6%	40,605,412	0	0%
Operating charges	70,617,139	12.0%	63,076,384	3.5%	60,920,780	1,778,793.50	3869.9%
Operating profit/loss	2,627,700	24.9%	2,103,263	-22.0%	2,697,457	43,772	5903.2%
Financial income	182,130	1.1%	180,132	19.4%	150,856	904.50	20036.0%
Financial charges	459,032	-15.8%	545,483	16.8%	467,072	3,728	12213.1%
Financial profit/loss	-276,901	24.2%	-365,351	-15.5%	-316,216	-715.50	-38600.3%
Pretax net operating income	2,350,799	35.3%	1,737,912	-27.0%	2,381,241	43,498	5304.4%
Extraordinary income	122,637	-50.8%	249,061	-41.3%	424,009	485.50	25159.9%
Extraordinary charges	1,074,221	79.0%	600,000	-36.8%	950,057	365.50	293804.5%
Extraordinary profit/loss	-951,584	-171.2%	-350,939	33.3%	-526,048	0	0%
Net result	1,017,328	4.0%	977,754	-23.1%	1,272,207	33,452	2941.2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/07/2013	31/07/2012	31/07/2011
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/07/2013		31/07/2012		31/07/2011
	Grand Total (I to VI)	Net	30,466,376	-2.0%	31,075,143	10.7%	28,064,438
	Gross	CO	32,018,489	-1.3%	32,455,075	10.1%	29,490,343
	Amortisation	1A	1,552,113	12.5%	1,379,932	-3.2%	1,425,905

Non declared distributed capital (I)

		31/07/2013		31/07/2012		31/07/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/07/2013		31/07/2012		31/07/2011
	Total Active fixed asset (II)	Net	2,749,671	4.9%	2,621,014	22.4%	2,141,283
	Gross	BJ	3,209,066	3.3%	3,105,798	17.9%	2,634,976
	Amortisation	BK	459,395	-5.2%	484,784	-1.8%	493,693

Intangilble fixed assets

			31/07/2013		31/07/2012		31/07/2011
	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	29,160	73.8%	16,775	-19.8%	20,922
	Gross	AF	87,971	40.5%	62,632	10.2%	56,817
	Amortisation	AG	58,810	28.2%	45,857	27.8%	35,895
	Goodwill	Net	402,500	0%	402,500	0%	402,500
	Gross	AH	402,500	0%	402,500	0%	402,500
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	431,660	3.0%	419,275	-1.0%	423,422

Tangilble fixed assets

			31/07/2013		31/07/2012		31/07/2011
	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	59,973	-7.9%	65,133	194.3%	22,132
	Gross	AR	154,108	0.8%	152,855	47.4%	103,670
	Amortisation	AS	94,135	7.3%	87,722	7.6%	81,538
	Other tangible fixed assets	Net	100,729	0.3%	100,412	-7.9%	109,072
	Gross	AT	407,179	-9.8%	451,617	-6.9%	485,332
	Amortisation	AU	306,450	-12.7%	351,205	-6.7%	376,260
	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	160,702		165,545		131,204

Financial assets

			31/07/2013		31/07/2012		31/07/2011
	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	730,000	0%	730,000	0%	730,000
	Gross	CU	730,000	0%	730,000	0%	730,000
	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	1,427,308	9.3%	1,306,194	52.5%	856,657
	Gross	BH	1,427,308	9.3%	1,306,194	52.5%	856,657
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		2,157,308		2,036,194		1,586,657

Current Assets (III)

			31/07/2013		31/07/2012		31/07/2011
	Total Assets	Net	27,716,705	-2.6%	28,454,129	9.8%	25,923,154
	Gross	CJ	28,809,424	-1.8%	29,349,277	9.3%	26,855,367
	Amortisation	CK	1,092,718	22.1%	895,148	-4.0%	932,213

Stocks

			31/07/2013		31/07/2012		31/07/2011
	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	18,915,699	-9.3%	20,846,470	15.3%	18,081,366
	Gross	BT	18,915,699	-9.3%	20,846,470	15.3%	18,081,366
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	18,915,699	-9.3%	20,846,470	15.3%	18,081,366

Advance payments to suppliers

			31/07/2013		31/07/2012		31/07/2011
	Advance payments to suppliers	Net	672,624	-10.9%	754,522	-10.2%	840,240
	Gross	BV	672,624	-10.9%	754,522	-10.2%	840,240
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/07/2013		31/07/2012		31/07/2011
	Trade accounts receivable	Net	6,735,203	15.4%	5,838,413	-4.9%	6,138,663
	Gross	BX	7,237,361	13.4%	6,383,561	-5.0%	6,720,876
	Amortisation	BY	502,158	-7.9%	545,148	-6.4%	582,213
	Other debtors	Net	321,107	-54.2%	701,354	152.4%	277,875
	Gross	BZ	911,667	-13.3%	1,051,354	67.4%	627,875
	Amortisation	CA	590,560	68.7%	350,000	0%	350,000
	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	7,056,310	7.9%	6,539,767	1.9%	6,416,538

Divers

			31/07/2013		31/07/2012		31/07/2011
	Investment securities	Net	8,664	1.7%	8,523	0%	8,523
	Gross	CD	8,664	1.7%	8,523	0%	8,523
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	958,654	408.7%	188,450	-59.5%	464,754
	Gross	CF	958,654	408.7%	188,450	-59.5%	464,754
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	967,318	391.1%	196,973	-58.4%	473,277

Prepaid expenses

			31/07/2013		31/07/2012		31/07/2011
	Prepaid expenses	Net	104,754	-10.0%	116,397	4.2%	111,733
	Gross	CH	104,754	-10.0%	116,397	4.2%	111,733
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011
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)

		31/07/2013		31/07/2012		31/07/2011
Grand Total (I to V)	EE	30,466,376	-2.0%	31,075,144	10.7%	28,064,438

Shareholder Equity (I)

			31/07/2013		31/07/2012		31/07/2011
	Total shareholders' equity (Total I)	DL	12,475,521	10.7%	11,273,249	6.0%	10,632,838
	Equity and shareholders' equity	DA	750,000	0%	750,000	0%	750,000
	Issue and merger premiums	DB	17,542	0%	17,542	0%	17,542
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	75,000	0%	75,000	0%	75,000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	7,537,823	3.8%	7,260,719	8.5%	6,689,388
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	1,017,328	4.0%	977,754	-23.1%	1,272,207
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	3,077,828	40.4%	2,192,234	19.9%	1,828,702

Other capital resources (II)

			31/07/2013		31/07/2012		31/07/2011
	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)

			31/07/2013		31/07/2012		31/07/2011
	Total provisions for risks and charges (Total III)	DR	174,000	625.0%	24,000	-80.6%	124,000
	Risk provisions	DP	174,000	625.0%	24,000	-80.6%	124,000
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/07/2013		31/07/2012		31/07/2011
	Total Liabilities (Total IV)	EC	17,816,855	-9.9%	19,777,894	14.3%	17,307,600
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	6,008,234	-26.8%	8,209,788	63.1%	5,033,599
	Sundry loans and financial liabilities	DV	1,418,112	-12.7%	1,623,646	13.7%	1,428,396
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	149,897	-32.6%	222,245	-37.9%	358,075
	Trade accounts payables	DX	7,967,705	0.3%	7,940,253	-6.4%	8,485,036
	Tax and social security liabilities	DY	1,322,946	11.8%	1,183,099	3.7%	1,140,390
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	949,961	58.6%	598,863	-30.5%	862,105

Translation loss (V)

		31/07/2013		31/07/2012		31/07/2011
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/07/2013		31/07/2012		31/07/2011
Deferred income	EB	0	0%	0	0%	0

References

		31/07/2013		31/07/2012		31/07/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	14,843,052	-16.9%	17,855,365	19.9%	14,895,114
Of which current bank facilities	EH	4,292,379	-21.3%	5,456,170	152.9%	2,157,812

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)

		31/07/2013		31/07/2012		31/07/2011
Operating result (Total I-II)	GG	2,627,700	24.9%	2,103,263	-22.0%	2,697,457

2 -Financial result(V - VI)

		31/07/2013		31/07/2012		31/07/2011
Financial result (Total V-VI)	GV	-276,901	24.2%	-365,351	-15.5%	-316,216

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

		31/07/2013		31/07/2012		31/07/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	2,350,799	35.3%	1,737,912	-27.0%	2,381,241

4 -Extraordinary result(VII-VIII)

		31/07/2013		31/07/2012		31/07/2011
Extraordinary result (Total VII-VIII)	HI	-951,584	-171.2%	-350,939	33.3%	-526,048

Profit or loss

		31/07/2013		31/07/2012		31/07/2011
Profit or loss	HN	1,017,328	4.0%	977,754	-23.1%	1,272,207

Total Income (I+III+V+VII)

		31/07/2013		31/07/2012		31/07/2011
Total Income (I+III+V+VII)	HL	73,549,607	12.1%	65,608,840	2.2%	64,193,102

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

		31/07/2013		31/07/2012		31/07/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	72,532,279	12.2%	64,631,086	2.7%	62,920,892

Operating income(I)

		31/07/2013		31/07/2012		31/07/2011
Total operating income (Total I)	FR	73,244,840	12.4%	65,179,647	2.5%	63,618,237

Operating income (details)

			31/07/2013		31/07/2012		31/07/2011
	Sale of goods for resale	FC	73,013,058	12.6%	64,841,466	2.2%	63,471,703
	France	FA	36,571,504	0.8%	36,272,613	58.5%	22,884,935
	Export	FB	36,441,554	27.6%	28,568,853	-29.6%	40,586,768
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	80,301	87.6%	42,810	-17.3%	51,764
	France	FG	80,301	87.6%	42,810	29.3%	33,120
	Export	FH	0	0%	0	0%	18,644
	Net turnover	FL	73,093,359	12.7%	64,884,276	2.1%	63,523,467
	France	FJ	36,651,805	0.9%	36,315,423	58.5%	22,918,055
	Export	FK	36,441,554	27.6%	28,568,853	-29.6%	40,605,412
	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	110,379	-19.5%	137,065	273.4%	36,705
	Other income	FQ	41,101	-74.0%	158,306	172.6%	58,065

Operating charges(II)

		31/07/2013		31/07/2012		31/07/2011
Total operating charges (Total II)	GF	70,617,139	12.0%	63,076,384	3.5%	60,920,780

Exploitation charges

		31/07/2013		31/07/2012		31/07/2011
Purchase of goods for resale	FS	57,125,717	1.8%	56,140,636	0.3%	55,959,715
Change in stocks of goods for resale	FT	1,930,771	169.8%	-2,765,104	44.5%	-4,978,499
Purchase of raw materials	FU	95,748	37.1%	69,835	-16.0%	83,169
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	6,623,602	17.3%	5,645,856	0.9%	5,597,661
Tax, duty and similar payments	FX	358,208	13.7%	315,171	7.2%	293,946
Payroll	FY	2,727,792	13.1%	2,411,140	3.9%	2,320,362
Social security costs	FZ	1,284,181	9.9%	1,168,607	17.3%	996,129

Depreciation

		31/07/2013		31/07/2012		31/07/2011
Depreciation of fixed assets	GA	75,965	30.2%	58,333	-26.6%	79,490
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	67,389	0%	0	0%	519,420
Provisions for risks and charges	GD	240,560	0%	0	0%	24,000

Other charges

		31/07/2013		31/07/2012		31/07/2011
Other charges	GE	87,205	173.3%	31,910	25.7%	25,387

Operating charges (III-IV)

		31/07/2013		31/07/2012		31/07/2011
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)

			31/07/2013		31/07/2012		31/07/2011
	Total financial income (Total V)	GP	182,130	1.1%	180,132	19.4%	150,856
	Share financial income	GJ	181,000	0.6%	180,000	23.3%	146,000
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	1,130	756.1%	132	-97.3%	4,856
	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)

			31/07/2013		31/07/2012		31/07/2011
	Total financial charge (Total VI)	GU	459,032	-15.8%	545,483	16.8%	467,072
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	459,032	-15.8%	545,483	16.8%	467,072
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/07/2013		31/07/2012		31/07/2011
	Total extraordinary income (Total VII)	HD	122,637	-50.8%	249,061	-41.3%	424,009
	Extraordinary operating income	HA	84,010	3139.9%	2,593	0%	0
	Extraordinary income from capital transactions	HB	0	0%	10,000	0%	0
	Released provisions and transferred charges	HC	38,627	-83.7%	236,468	-44.2%	424,009

Extraordinary charges(VIII)

			31/07/2013		31/07/2012		31/07/2011
	Total extraordinary charges (Total VIII)	HH	1,074,221	79.0%	600,000	-36.8%	950,057
	Extraordinary operating charges	HE	0	0%	0	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	1,074,221	79.0%	600,000	-36.8%	950,057

Employee profit sharing(IX)

		31/07/2013		31/07/2012		31/07/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/07/2013		31/07/2012		31/07/2011
Tax on profits (Total X)	HK	381,887	-6.7%	409,219	-29.8%	582,983

References

		31/07/2013		31/07/2012		31/07/2011
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)

			31/07/2013		31/07/2012		31/07/2011
	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	252,355	275.3%	67,241	-85.5%	463,154
	Gross value at the end of period	OL	3,209,067	3.3%	3,105,798	17.9%	2,634,976

Research and development Charge (Total I)

			31/07/2013		31/07/2012		31/07/2011
	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)

			31/07/2013		31/07/2012		31/07/2011
	Gross value at begin of period	KD	465,133	1.3%	459,318	-0.7%	462,733
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	25,338	335.7%	5,815	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	3,416
	Gross value at the end of period	LW	490,471	5.4%	465,133	1.3%	459,317

Tangible fixed assets (Total III)

			31/07/2013		31/07/2012		31/07/2011
	Gross value at begin of period	LN	604,471	2.6%	589,002	-0.3%	591,005
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	58,170	-29.7%	82,711	219.6%	25,879
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	101,354	50.7%	67,241	141.2%	27,882
	Gross value at the end of period	NH	561,287	-7.1%	604,472	2.6%	589,002

Fiancial assets (Total IV)

			31/07/2013		31/07/2012		31/07/2011
	Gross value at begin of period	LQ	2,036,194	28.3%	1,586,657	-21.4%	2,018,513
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	272,116	-39.5%	449,537	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	151,001	0%	0	0%	431,856
	Gross value at the end of period	NK	2,157,308	5.9%	2,036,194	28.3%	1,586,657

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

			31/07/2013		31/07/2012		31/07/2011
	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)

			31/07/2013		31/07/2012		31/07/2011
	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)

			31/07/2013		31/07/2012		31/07/2011
	Reserve for depreciation value at begin of period	PE	45,857	27.8%	35,895	-5.2%	37,870
Increases		PF	12,953	30.0%	9,962	0%	0
Decreasess		PG	0	0%	0	0%	1,975
	Decreasess by budget item transfer	PH	58,810	28.2%	45,857	27.8%	35,895

Total fixed assets amotisation(Total III)

			31/07/2013		31/07/2012		31/07/2011
	Reserve for depreciation value at begin of period	QU	438,926	-4.1%	457,798	4.8%	436,974
Increases		QV	63,011	30.3%	48,371	68.1%	28,768
Decreases		QW	101,354	50.7%	67,241	746.3%	7,945
	Decreasess by budget item transfer	QX	400,583	-8.7%	438,928	-4.1%	457,797

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/07/2013		31/07/2012		31/07/2011
	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

			31/07/2013		31/07/2012		31/07/2011
	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)

			31/07/2013		31/07/2012		31/07/2011
	Value at begining of period	7C	0	0%	0	0%	1,865,259
Increases		UB	0	0%	0	0%	1,429,156
Decreases		UC	0	0%	0	0%	409,500
	Value at the end of period	UD	0	0%	0	0%	2,884,915

Includes Total allocations

Operating	UE	0	0%	0	0%	503,108
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	926,048

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	400,000

Total regulated provisions (Total I)

			31/07/2013		31/07/2012		31/07/2011
	Value at begining of period	3Z	0	0%	0	0%	1,302,653
Increases		TS	0	0%	0	0%	926,048
Decreases		TT	0	0%	0	0%	400,000
	Value at the end of period	TU	0	0%	0	0%	1,828,701

Total risk and charge provisions (Total II)

			31/07/2013		31/07/2012		31/07/2011
	Value at begining of period	5Z	0	0%	0	0%	133,500
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	9,500
	Value at the end of period	TX	0	0%	0	0%	124,000

Total Provision for depreciation (Total III)

			31/07/2013		31/07/2012		31/07/2011
	Value at begining of period	7B	0	0%	0	0%	429,105
Increases		TY	0	0%	0	0%	503,108
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	932,213

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

		31/07/2013		31/07/2012		31/07/2011
Gross value	VT	9,681,089	9.3%	8,857,506	6.5%	8,317,398
1 year at most	VU	7,245,831	-4.0%	7,551,312	1.2%	7,460,741
More than one year	VV	2,435,258	86.4%	1,306,194	52.5%	856,657

State of loans

		31/07/2013		31/07/2012		31/07/2011
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	1,427,308	9.3%	1,306,194	52.5%	856,657
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/07/2013		31/07/2012		31/07/2011
Customers doubtful or disputed	VA	575,728	-15.3%	679,911	3.8%	654,845
Other claims customer	UX	6,661,633	16.8%	5,703,650	-6.0%	6,066,031
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	121	0%	0	0%	2,450
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	208,206	0%	0
Value added tax	VB	0	0%	222,164	40.5%	158,100
Other taxes and payments assimilated	VN	251,919	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	131,000	-44.0%	233,986	75.8%	133,105
Accounts receivable (including claims relating to the operation of pension titles)	VR	528,626	36.6%	386,999	15.7%	334,477

Prepaid

		31/07/2013		31/07/2012		31/07/2011
Prepaid	VS	104,754	-10.0%	116,397	4.2%	111,733

State Debt

			31/07/2013		31/07/2012		31/07/2011
	Total debt (gross)	VY	17,666,956	-9.7%	19,555,650	15.4%	16,949,783
1 year at most		VZ2	14,843,051	-16.9%	17,855,365	19.9%	14,895,372
More than 1 year and 5 years at most		VZ3	2,723,905	72.4%	1,580,285	-23.1%	2,054,411
More than 5 years		VZ4	100,000	-16.7%	120,000	0%	0

Details

			31/07/2013		31/07/2012		31/07/2011
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	6,008,234	-26.8%	8,209,788	63.1%	5,033,599
1 year at most		VH2	4,904,736	-24.7%	6,509,503	118.5%	2,979,188
More than 1 year and 5 years at most		VH3	1,003,497	-36.5%	1,580,285	-23.1%	2,054,411
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	7,967,705	0.3%	7,940,253	-6.4%	8,485,036
1 year at most		8B2	7,967,705	0.3%	7,940,253	-6.4%	8,485,036
More than 1 year and 5 years at most		8B3	7,967,705	0.3%	7,940,253	-6.4%	8,485,036
	Personnel and associated accounts (gross)	8C1	443,683	-2.2%	453,466	1.7%	445,851
1 year at most		8C2	443,683	-2.2%	453,466	1.7%	445,851
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	336,032	23.8%	271,413	24.3%	218,412
1 year at most		8D2	336,032	23.8%	271,413	24.3%	218,412
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	7,365	0%	0	0%	60,599
1 year at most		8E2	7,365	0%	0	0%	60,599
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	401,569	12.7%	356,384	17.2%	304,061
1 year at most		VW2	401,569	12.7%	356,384	17.2%	304,061
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	134,296	31.9%	101,836	-8.9%	111,725
1 year at most		VQ2	134,296	31.9%	101,836	-8.9%	111,725
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	1,418,112	-12.7%	1,623,646	13.7%	1,428,396
1 year at most		VI2	0	0%	1,623,646	13.7%	1,428,396
More than 1 year and 5 years at most		VI3	1,418,112	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	949,961	58.6%	598,865	-30.5%	862,105
1 year at most		8K2	647,665	8.1%	598,865	-30.5%	862,105
More than 1 year and 5 years at most		8K3	302,296	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

		31/07/2013		31/07/2012		31/07/2011
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	116,747	0%	0

Table allocation results and other information
Dividends distributed

		31/07/2013		31/07/2012		31/07/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/07/2013		31/07/2012		31/07/2011
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

		31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Fixed Asset Financing		5.06	-2.7%	5.20	-11.9%	5.90	2.60	94.6%
Global Debt		88days	-20.0%	110days	12.2%	98days	96days	-8.3%
Working Capital Fund overall net		64days	-11.1%	72days	-1.4%	73days	67days	-4.5%
Financial independence		207.64%	51.2%	137.31%	-35.0%	211.24%	555.52%	-62.6%
More ratios
Solvability		40.95%	12.9%	36.28%	-4.2%	37.89%	39.93%	2.6%
Capacity debt futures		254.36%	46.9%	173.18%	-51.5%	356.90%	1106%	-77.0%
Coverage of current assets by net working capital overall		45.39%	1.7%	44.64%	-7.6%	48.29%	47.65%	-4.7%
General Liquidity		0.49	16.7%	0.42	-16.0%	0.50	0.94	-47.9%
Restricted Liquidity		0.55	27.9%	0.43	-18.9%	0.53	1.26	-56.3%

Management or rotation

		31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Need background in operating working capital		80days	-20.8%	101days	23.2%	82days	38days	110.5%
Treasury		-16days	44.8%	-29days	-190.0%	-10days	14days	-214.3%
Inventory turnover of goods		115days	-18.4%	141days	10.2%	128days	37days	210.8%
Average length of credit granted to customers		36days	2.9%	35days	-7.9%	38days	63days	-42.9%
Average length of credit obtained suppliers		44days	-8.3%	48days	-11.1%	54days	53days	-17.0%
More ratios
Inventory turnover of raw materials in industrial enterprises		0days	0%	0days	0%	0days	0days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1016.50days	-
Rotation tangible assets		13022.46%	21.3%	10734.04%	-0.5%	10784.93%	1339.75%	872.0%

Profitability of the business

		31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Margin trading		19.09%	8.0%	17.67%	-10.1%	19.66	18.60%	2.6%
Profitability of the business		4.03	37.5%	2.93	-42.8%	5.12	3.42%	17.8%
Net profit		1.39%	-7.9%	1.51%	-24.5%	2%	1.94%	-28.4%
More ratios
Growth rate of turnover (excluding VAT)		12.65%	491.1%	2.14%	-89.6%	20.66%	1.05%	1104.8%
Rates integration		10.01%	12.1%	8.93%	-17.3%	10.80%	16.75%	-40.2%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		54.83%	-11.3%	61.79%	27.8%	48.34%	66.93%	-18.1%
Weight interests		0.63	-25.0%	0.84%	13.5%	0.74%	0.20%	215.0%

Return on capital

		31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Cash flow from the overall profitability		2.97%	18.3%	2.51%	-16.1%	2.99%	2.68%	10.8%
Rates of economic profitability		15%	66.7%	9%	-52.6%	19%	13%	15.4%
Financial profitability		12475521%	10.7%	11273249%	6.0%	10632838%	369014%	3280.8%
Return on investment		7.42%	2.8%	7.22%	-29.0%	10.17%	8.70%	-14.7%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/07/2013		31/07/2012		31/07/2011	Sector Median2013
Turnover	73,093,359	12.7%	64,884,276	2.1%	63,523,467	1,896,664 €	3753.8%

Sales of goods	73,013,058	12.6%	64,841,466	2.2%	63,471,703
- Purchase of goods	57,125,717	1.8%	56,140,636	0.3%	55,959,715
+/- Stock of goods variation	1,930,771	169.8%	-2,765,104	44.5%	-4,978,499
Trading margin	13,956,570 €	21.7%	11,465,934 €	-8.2%	12,490,487 €	317,919 €	4290.0%
	19.09 % CA	8.0%	17.67 % CA	-10.1%	19.66 % CA	18.88 % CA	1.1%

Sale of goods produced	80,301	87.6%	42,810	-17.3%	51,764
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	80,301 €	87.6%	42,810 €	-17.3%	51,764 €	61,815 €	29.9%
	0.11 % CA	57.1%	0.07 % CA	-12.5%	0.08 % CA	2.41 % CA	-95.4%

Trading margin	13,956,570	21.7%	11,465,934	-8.2%	12,490,487	317,919	4290.0%
+ Period Production	80,301	87.6%	42,810	-17.3%	51,764	61,815	29.9%
- Purchase of raw materials	95,748	37.1%	69,835	-16.0%	83,169
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	6,623,602	17.3%	5,645,856	0.9%	5,597,661
Added value	7,317,521 €	26.3%	5,793,053 €	-15.6%	6,861,421 €	323,090 €	2164.9%
	10.01 % CA	12.1%	8.93 % CA	-17.3%	10.80 % CA	16.75 % CA	-40.2%

Added value	7,317,521 €	26.3%	5,793,053 €	-15.6%	6,861,421 €	323,090 €	2164.9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	358,208	13.7%	315,171	7.2%	293,946
- Personal charges	4,011,973	12.1%	3,579,747	7.9%	3,316,491
Gross operating surplus	2,947,340 €	55.3%	1,898,135 €	-41.6%	3,250,984 €	62,236.50 €	4635.7%
	4.03 % CA	37.5%	2.93 % CA	-42.8%	5.12 % CA	3.42 % CA	17.8%

Gross operating surplus	2,947,340 €	55.3%	1,898,135 €	-41.6%	3,250,984 €	62,236.50 €	4635.7%
+ Release of reserves and provisions	110,379	-19.5%	137,065	273.4%	36,705
+ Other operating income	41,101	-74.0%	158,306	172.6%	58,065
- Depreciation/Amortisation	383,914	558.1%	58,333	-90.6%	622,910
- Other charges	87,205	173.3%	31,910	25.7%	25,387
Operating result	2,627,701 €	24.9%	2,103,263 €	-22.0%	2,697,457 €	43,772 €	5903.2%
	3.59 % CA	10.8%	3.24 % CA	-23.8%	4.25 % CA	2.58 % CA	39.1%

Operating result	2,627,701 €	24.9%	2,103,263 €	-22.0%	2,697,457 €	43,772 €	5903.2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	182,130	1.1%	180,132	19.4%	150,856
- Financial charges	459,032	-15.8%	545,483	16.8%	467,072
Pre-tax result	2,350,799 €	35.3%	1,737,912 €	-27.0%	2,381,241 €	43,498 €	5304.4%
	3.22 % CA	20.1%	2.68 % CA	-28.5%	3.75 % CA	2.36 % CA	36.4%

Extraordinary income	122,637	-50.8%	249,061	-41.3%	424,009	485.50	25159.9%
- Extraordinary charges	1,074,221	79.0%	600,000	-36.8%	950,057
Extraordinary result	-951,584 €	-171.2%	-350,939 €	33.3%	-526,048 €	0 €	0%
	-1.30 % CA	-140.7%	-0.54 % CA	34.9%	-1 % CA	0 % CA	0%

Pre-tax result	2,350,799 €	35.3%	1,737,912 €	-27.0%	2,381,241 €	43,498 €	5304.4%
Extraordinary result	-951,584 €	-171.2%	-350,939 €	33.3%	-526,048 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	381,887	-6.7%	409,219	-29.8%	582,983
Net result	1,017,328 €	4.0%	977,754 €	-23.1%	1,272,210 €	33,454 €	2941.0%
	1.39 % CA	-7.9%	1.51 % CA	-24.5%	2.00 % CA	1.94 % CA	-28.4%

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	21/01/2009
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	QUIMDIS S. A. S
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-
Ultimate parent company	SOFIQUIM
Direct parent	SOFIQUIM - 50 %
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-

Group Structure

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QUIMDIS S. A. S

SOFIQUIM

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Company Name	SIREN	Parts	Rating	Limit	Last account published
QUIMDIS SA	347990442	-	69	320 000 €	31/07/2013
SOCIETE JERAFRANCE	337657969	100%	75	25 000 €	31/07/2013

Shareholders

Type of shareholder

Shareholders

Linkages

Ultimate parent company	QUIMDIS S. A. S
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-
Ultimate parent company	SOFIQUIM
Direct parent	SOFIQUIM - 50 %
Group – Number of companies	2
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
27/03/2014	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 10857 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2013.
02/08/2013	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 12205 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2012.
24/07/2013	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 3849 - 347 990 442 RCS Nanterre. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Administration : Président : QUARRE JEAN-FRANCOIS modification le 21 Mars 2005 Directeur général : MANALT MICHEL modification le 16 Juillet 2013 Directeur général : COURATIER CLAIRE modification le 21 Mars 2005 Commissaire aux comptes titulaire : ARFEUILLE ET AUDITEURS en fonction le 16 Juillet 2013 Commissaire aux comptes suppléant : LOUBIERE Thierry en fonction le 16 Juillet 2013. Activité : . Commentaires : Modification de représentant.
02/04/2012	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 14382 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2011.
04/04/2011	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 14214 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2010.
19/02/2010	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 7544 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2009.
10/05/2009	Bodacc A	Vente et cession : Acheteur
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 835 - 347 990 442 RCS Nanterre. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Capital : 750000 EUR. Adresse : 71 rue Anatole France, 92300 Levallois-Perret. Origine du fonds : Achat d'un fonds de commerce. Etablissement : Etablissement principal. Activité : un fonds de commerce de représentation, courtage, conseil, négoce de toutes matières premières et produits exotiques, à l'exclusion du droit au bail. Adresse : 133 rue Victor Hugo, 92270 Bois Colombes. Précédent propriétaire : DUCLOS TRADING. 339 978 454 RCS Nanterre. Publication légale : Journal spécial des sociétés françaises du 23/04/2009. Oppositions : Au fonds vendu pour la validité et pour la correspondance CABINET CJA 15 Rue D'ASTORG 75008 PARIS. Descriptif : Fonds acquis par achat au prix stipulé de 426229 Euros. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
16/04/2009	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 10863 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2008.
27/05/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 8649 - 347990442 RCS. QUIMDIS S. A. S. Forme : Société par actions simplifiée. Adresse : 71 rue Anatole France 92300 Levallois-Perret. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2007.
27/04/2007	Bodacc C	Avis de dépôt des comptes
6957 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.S. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 71, rue Anatole France,92300 Levallois-Perret. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2006.
19/04/2007	Bodacc B	Modifications et mutations diverses
1522 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.S. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : REVISION ET COMMISSARIAT S.A.R.L. Commissaire aux comptes suppléant partant : FIDUS-AUDIT. Nomination d'un commissaire aux comptes titulaire : BARRE (Laurent). Nomination d'un commissaire aux comptes suppléant : ROFFE (Jacques).
20/06/2006	Bodacc C	Avis de dépôt des comptes
2179 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.S. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 71, rue Anatole France,92300 Levallois-Perret. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2005.
11/06/2006	Bodacc B	Modifications et mutations diverses
2726 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.S. Forme : S.A.S. Adresse du siège social : 71 rue Anatole-France,, 92300 Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal. Etablissement principal - Adresse : 71 rue Anatole-France, 92300
03/05/2005	Bodacc B	Modifications et mutations diverses
2925 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.S. Forme : S.A.S. Commentaires : modification survenue sur la dénomination, la forme juridique et l'administration. Administration : modification du président : QUARRE (Jean-François). Modification de directeurs généraux : MANALT (Michel) COURATIER (Claire). Membre du conseil de surveillance partant : COURATIER (Hélène).
19/03/2005	Bodacc C	Avis de dépôt des comptes
2610 - RCS Nanterre B 347 990 442. RC 88-B 3482. QUIMDIS S.A.. Forme: S.A. Adresse du siège social: 85, rue Edouard Vaillant,92300 Levallois-Perret. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2004.
24/03/2004	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 347990442 RC 88-B 3482 QUIMDIS S.A. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : président du conseil de surveillance partant : THEVENIN (Bernard). Nomination du président et membre du conseil de surveillance : ECHEVERRIA CORREA (Maria) ( Nom d'usage : OUARRE).
09/07/2003	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 347990442 RC 88-B 3482 QUIMDIS S.A. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : vice- président et membre du conseil de surveillance partant : CAMUSET (Robert). Nomination d'un vice-président et membre du conseil de surveillance : CAMUSET (Sylviane) ( Nom d'usage : MANALT).
15/03/2001	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 347990442 RC 88-B 3482 QUIMDIS S.A. Forme : S.A. Capital : 750 000 euros. Commentaires : modification survenue sur le capital (augmentation) et l'administration. Administration : commissaire aux comptes suppléant partant : BOMPART (Paul). Nomination du commissaire aux comptes suppléant : FIDUS AUDIT.
08/02/1996	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 347 990 442 RC RC 88-B 3482 QUIMDIS S.A. Forme : S.A. Adresse du siège social : 85, rue Edouard-Vaillant 92300 Levallois-Perret Etablissement principal: Adresse : 85, rue Edouard-Vaillant 92300 Levallois- Perret. Commentaires : modification survenue sur l'adresse du siège social et de l'établissement principal.

Company events history

Date	Description
27/03/2014	Bodacc C : Deposit accounts notice
11/03/2014	Update Rating
11/03/2014	Update Limit
11/03/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
15/10/2013	Update Limit
15/10/2013	Update Rating
05/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/08/2013	Bodacc C : Deposit accounts notice
01/08/2013	Update Limit
01/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/07/2013	New accounts available
24/07/2013	Bodacc B: Various editing or changing
18/07/2013	Update Rating
18/07/2013	Update Limit
16/07/2013	New auditor
16/07/2013	Minutes of general meeting of shareholders
16/07/2013	Changes to the Board of Directors
31/07/2012	New accounts available
11/04/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/04/2012	Bodacc C : Deposit accounts notice
31/07/2011	New accounts available
04/04/2011	Bodacc C : Deposit accounts notice
01/04/2011	New subsidiarie(s) detected
01/04/2011	New ultimate parent
01/04/2011	New parent detected
31/07/2010	New accounts available
19/02/2010	Bodacc C : Deposit accounts notice
15/12/2009	Payment incident closed
17/11/2009	Payment incident detected
31/07/2009	New accounts available
13/07/2009	Payment incident closed
25/05/2009	Payment incident detected
10/05/2009	Bodacc A : Sale and transfer
16/04/2009	Bodacc C : Deposit accounts notice
21/01/2009	Collection of preferential rights activated for this company
31/07/2008	New accounts available
27/05/2008	Bodacc C : Deposit accounts notice
31/07/2007	New accounts available
27/03/2007	Appointment/resignation of company officers
27/03/2007	Private document
27/03/2007	Changement de Commissaire aux Comptes
27/03/2007	New auditor
27/03/2007	Minutes of general meeting of shareholders
27/03/2007	PV d'Assemblée
31/07/2006	New accounts available
18/05/2006	Statuts mis à jour
18/05/2006	Transfert du Siège dans le ressort du Tribunal de Commerce
18/05/2006	Acte modificatif
17/05/2006	Updated articles of association
17/05/2006	Private document
17/05/2006	Minutes of general meeting of shareholders
17/05/2006	Registered office transferred inside jurisdiction of the Commercial Court
31/07/2005	New accounts available
21/03/2005	Nomination/démission des organes de gestion
21/03/2005	Appointment/resignation of company officers
21/03/2005	Private document
21/03/2005	Acte sous seing privé
21/03/2005	New legal form – no new category
21/03/2005	Changement de Forme Juridique sans changement de catégorie
21/03/2005	Changement de Forme Juridique avec changement de catégorie
21/03/2005	Rapport des Commissaires ou du Gérant
21/03/2005	Audit or Management Report
21/03/2005	Updated articles of association
21/03/2005	Statuts mis à jour
21/03/2005	PV d'Assemblée
21/03/2005	Minutes of general meeting of shareholders
31/07/2004	New accounts available
11/03/2004	Statuts mis à jour
11/03/2004	PV d'Assemblée
11/03/2004	Acte modificatif
11/03/2004	Changement de Président (PDG, PCA)
11/03/2004	Nomination/démission des organes de gestion
11/03/2004	Acte sous seing privé
31/07/2003	New accounts available
27/06/2003	Acte sous seing privé
27/06/2003	Nomination/démission des organes de gestion
27/06/2003	PV d'Assemblée
27/06/2003	Acte modificatif
28/02/2001	Acte sous seing privé
28/02/2001	Changement de Commissaire aux Comptes
28/02/2001	PV d'Assemblée
28/02/2001	Nomination/démission des organes de gestion
28/02/2001	Statuts mis à jour
28/02/2001	Augmentation de Capital
28/02/2001	Conversion du Capital Social en Euros
24/01/1996	Transfert du Siège dans le ressort du Tribunal de Commerce
24/01/1996	Acte modificatif
24/01/1996	Statuts mis à jour
24/01/1996	PV d'Assemblée

directors

Name	M. QUARRE JEAN-FRANCOIS
Manager position	President	Date of birth	03/07/1953
Place of birth	PARIS (75017)
Type	Individual	Name at birth

Name	M. MANALT MICHEL
Manager position	Managing director	Date of birth	21/02/1948
Place of birth	PARIS (75009)
Type	Individual	Name at birth

Name	Mme. COURATIER CLAIRE
Manager position	Managing director	Date of birth	23/08/1946
Place of birth	VERSAILLES (78)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-FRANCOIS QUARRE	7/3/1953 - PARIS 17
Managing director	MME CLAIRE COURATIER	- - -
Managing director	M MICHEL MANALT	- - -

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.66
UK Pound	1	Rs.100.80
Euro	1	Rs.80.72

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	PDT

RATING EXPLANATIONS

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

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

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

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

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