MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	FAMAR ORLEANS
Registered Office :	Farmar Orleans - Mcneil Manufacturing 5 Av De Concyr 45071 Orleans Cedex 2
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	December 2006
Com. Reg. No.:	0 493 414 403
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Manufacturing Pharmaceutical Preparations
No. of Employees :	250 to 499

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
France	A1	A1

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

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 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 and address

Name	FAMAR ORLEANS

company summary

		EUR VAT Number	FR38493414403
Activity (APE)	Manufacturing Pharmaceutical Preparations	Legal form	Simplified Joint Stock Company with Single Associate
Phone	02 38 64 19 51	RCS Registration	RCS Orleans 0 493 414 403
Fax	02 38 64 19 51	Share capital	53,235,930 Euros
Address	FAMAR ORLEANS FARMAR ORLEANS - MCNEIL MANUFACTURING 5 AV DE CONCYR 45071 ORLEANS CEDEX 2	Incorporated Date	12/2006
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	25
Total number of Invoices paid within or up to 30 days after the due date	17
Total number of Invoices paid more than 30 days after the due date	0
Total number of Invoices currently outstanding where the due date has not yet been reached	8
Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

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

Current Directors

3

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	126,103,571 €	68,421,541 €	73,638,693 €
Gross Operating Surplus	-4.32 % Turnover	-15.29 % Turnover	-4.55 % Turnover
Shareholders’ equity	15,730,775 €	23,756,813 €	34,531,275 €
Net result	-8,304,163 €	-14,761,287 €	-841,562 €
Employees	250 to 499 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Activity (APE)	Manufacturing Pharmaceutical Preparations
RCS Registration	RCS Orleans 0 493 414 403	Share capital	53,235,930 Euros
Registration Court	Orleans (45)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 7B00209	EUR VAT Number	FR38493414403
Incorporation Date	12/2006	Formation Date	01/2007
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Establishment details

Activity (APE)	Manufacturing Pharmaceutical Preparations	Business Pages FT®	LABORATOIRES PHARMACEUTIQUES
Postal Address	FAMAR ORLEANS FARMAR ORLEANS - MCNEIL MANUFACTURING 5 AV DE CONCYR 45071 ORLEANS CEDEX 2	Trading Address	5 AVENUE DE CONCYR 45100 ORLEANS
Telephone	02 38 64 19 51
Fax	02 38 64 19 51

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

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

Other establishments

Branches	1 branch entities in this company
Head office	Manufacturing Pharmaceutical Preparations
Secondary establishments	Manufacturing Pharmaceutical Preparations

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

Workforces

Workforce at address

250 to 499 employees

Company workforce

250 to 499 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	31/12/2012	31/12/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	03/10/2014	10/09/2013	29/08/2012
Activity Code	2120Z	2120Z	2120Z
Employees	688	390	408

Active account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	43,348,943	-19.9%	54,093,890	51.6%	35,677,603	3,702,678	1070.7%
- Intangible assets	2,770,767	-81.4%	14,868,772	377.1%	3,116,267	169,865	1531.2%
- Tangible assets	40,431,976	-20.5%	50,854,933	56.9%	32,419,487	1,759,816	2197.5%
- Financial assets	146,200	-0.2%	146,429	3.2%	141,849	20,804	602.7%
Net current assets	31,246,178	4.3%	29,964,323	-37.0%	47,571,324	7,409,305	321.7%
- Stocks	13,953,405	-11.8%	15,818,670	30.9%	12,085,988	1,763,857	691.1%
- Advanced payments	68,995	4.3%	88,192	442.5%	16,256	44	156706.8%
- Receivables	16,784,209	26.3%	13,290,523	-51.6%	27,470,797	3,942,984	325.7%
- Securities and cash	439,570	-42.7%	766,938	-90.4%	7,998,283	391,092	12.4%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	74,595,121	-11.3%	84,058,214	1.0%	83,248,928	12,520,265	495.8%

Passive Account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Shareholders' equity	15,730,775	-33.8%	23,756,813	-31.2%	34,531,275	4,444,934	253.9%
Share capital	53,235,930	0%	53,235,930	2.0%	52,188,150	830,000	6314.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	11,920,582	-21.3%	15,154,927	32.6%	11,429,190	199,283	5881.7%
Liabilities	46,943,764	4.0%	45,146,472	21.1%	37,288,463	5,824,160	706.0%
- Financial liabilities	8,408,704	258.4%	2,346,252	0%	0	729,805	1052.2%
- Advanced payments received	0	0%	2,164,507	0%	0	0	0%
- Trade account payables	25,129,179	31.4%	19,129,110	-2.6%	19,634,654	2,044,082	1129.4%
- Tax and social liabilities	9,493,709	-10.8%	10,647,806	57.9%	6,745,447	993,143	855.9%
- Other debts and fixed assets liabilities	3,888,141	-60.8%	9,926,797	2.4%	9,691,050	183,407	2020.0%
Account regularization	24,030	-97.4%	932,000	-23.4%	1,217,312	0	0%
Total liabilities	74,595,121	-11.3%	84,058,214	1.0%	83,248,928	12,520,265	495.8%

Results

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Sales of Goods	138,437,887	70.2%	81,357,212	-10.7%	91,076,871	13,368,901	935.5%
Net turnover	126,103,571	84.3%	68,421,541	-7.1%	73,638,693	13,152,338	858.8%
- of which net export turnover	91,800,339	104.4%	44,920,615	-1.2%	45,470,549	955,964	9502.9%
Operating charges	149,083,464	53.7%	97,010,092	-2.2%	99,207,523	13,498,066	1004.5%
Operating profit/loss	-10,645,577	32.0%	-15,652,880	-92.5%	-8,130,652	369,448	-2981.5%
Financial income	20,126	-86.3%	146,525	-62.5%	391,189	11,036	82.4%
Financial charges	173,183	132.4%	74,521	-2.1%	76,087	61,206	183.0%
Financial profit/loss	-153,057	-312.6%	72,004	-77.1%	315,102	-8,399	-1722.3%
Pretax net operating income	-10,798,634	30.7%	-15,580,876	-99.4%	-7,815,550	321,953	-3454.1%
Extraordinary income	4,304,628	11.7%	3,855,154	-55.4%	8,636,412	59,415	7145.0%
Extraordinary charges	1,974,590	-35.0%	3,035,566	79.2%	1,693,834	75,515	2514.8%
Extraordinary profit/loss	2,330,037	184.3%	819,588	-88.2%	6,942,578	-41	5683117.1%
Net result	-8,304,163	43.7%	-14,761,287	-1654.0%	-841,562	354,828	-2440.3%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	Grand Total (I to VI)	Net	74,595,121	-11.3%	84,058,214	1.0%	83,248,928
	Gross	CO	131,892,784	-2.7%	135,594,384	14.0%	118,912,018
	Amortisation	1A	57,297,662	11.2%	51,536,170	44.5%	35,663,090

Non declared distributed capital (I)

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
	Total Active fixed asset (II)	Net	43,348,943	-19.9%	54,093,890	51.6%	35,677,603
	Gross	BJ	97,120,075	-5.1%	102,324,916	47.0%	69,605,651
	Amortisation	BK	53,771,132	11.5%	48,231,026	42.2%	33,928,048

Intangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	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	272,867	-26.8%	372,737	10.6%	336,897
	Gross	AF	2,219,316	-3.4%	2,297,799	117.1%	1,058,302
	Amortisation	AG	1,946,449	1.1%	1,925,062	166.8%	721,405
	Goodwill	Net	2,335,631	-83.4%	14,111,875	504.2%	2,335,631
	Gross	AH	14,111,875	0%	14,111,875	0%	14,111,875
	Amortisation	AI	11,776,244	0%	11,776,244	0%	11,776,244
	Other intangible fixed assets	Net	162,269	-57.8%	384,160	-13.4%	443,739
	Gross	AJ	613,042	-14.3%	715,500	12.1%	638,004
	Amortisation	AK	450,773	36.0%	331,340	70.6%	194,265
	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	2,770,767	-81.4%	14,868,772	377.1%	3,116,267

Tangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	2,139,896	22.0%	1,754,323	11.0%	1,581,031
	Gross	AP	3,677,812	22.0%	3,015,128	18.9%	2,535,601
	Amortisation	AQ	1,537,916	22.0%	1,260,805	32.1%	954,570
	Plant	Net	32,112,611	31.6%	24,394,614	21.0%	20,163,341
	Gross	AR	67,748,783	22.9%	55,118,152	42.1%	38,793,569
	Amortisation	AS	35,636,172	16.0%	30,723,538	64.9%	18,630,228
	Other tangible fixed assets	Net	867,204	229.3%	263,343	-8.7%	288,436
	Gross	AT	3,290,782	32.8%	2,477,380	27.7%	1,939,772
	Amortisation	AU	2,423,578	9.5%	2,214,037	34.1%	1,651,336
	Fixed assets in construction	Net	4,936,695	-79.7%	24,373,999	162.8%	9,276,448
	Gross	AV	4,936,695	-79.7%	24,373,999	162.8%	9,276,448
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	375,570	447.0%	68,654	-93.8%	1,110,231
	Gross	AX	375,570	447.0%	68,654	-93.8%	1,110,231
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	40,431,976		50,854,933		32,419,487

Financial assets

			31/12/2013		31/12/2012		31/12/2011
	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	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	146,200	-0.2%	146,429	3.2%	141,849
	Gross	BH	146,200	-0.2%	146,429	3.2%	141,849
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		146,200		146,429		141,849

Current Assets (III)

			31/12/2013		31/12/2012		31/12/2011
	Total Assets	Net	31,246,178	4.3%	29,964,323	-37.0%	47,571,324
	Gross	CJ	34,772,709	4.5%	33,269,467	-32.5%	49,306,366
	Amortisation	CK	3,526,530	6.7%	3,305,144	90.5%	1,735,042

Stocks

			31/12/2013		31/12/2012		31/12/2011
	Raw materials	Net	8,250,815	-6.3%	8,806,099	19.8%	7,352,373
	Gross	BL	10,218,092	-3.7%	10,610,382	27.7%	8,306,649
	Amortisation	BM	1,967,278	9.0%	1,804,283	89.1%	954,276
	Work in progress (goods)	Net	254,148	39.4%	182,306	0%	0
	Gross	BN	254,148	39.4%	182,306	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	5,448,442	-20.2%	6,830,265	44.3%	4,733,615
	Gross	BR	6,676,017	-16.2%	7,967,676	50.0%	5,310,728
	Amortisation	BS	1,227,575	7.9%	1,137,411	97.1%	577,113
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	13,953,405	-11.8%	15,818,670	30.9%	12,085,988

Advance payments to suppliers

			31/12/2013		31/12/2012		31/12/2011
	Advance payments to suppliers	Net	68,995	-21.8%	88,192	442.5%	16,256
	Gross	BV	68,995	-21.8%	88,192	442.5%	16,256
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		31/12/2012		31/12/2011
	Trade accounts receivable	Net	5,077,176	-28.8%	7,134,766	13.7%	6,277,449
	Gross	BX	5,408,854	-27.9%	7,498,216	15.7%	6,481,102
	Amortisation	BY	331,678	-8.7%	363,450	78.5%	203,653
	Other debtors	Net	11,614,805	95.0%	5,955,795	-71.7%	21,024,411
	Gross	BZ	11,614,805	95.0%	5,955,795	-71.7%	21,024,411
	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	16,691,981	27.5%	13,090,561	-52.1%	27,301,860

Divers

			31/12/2013		31/12/2012		31/12/2011
	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	439,570	-42.7%	766,938	-90.4%	7,998,283
	Gross	CF	439,570	-42.7%	766,938	-90.4%	7,998,283
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	439,570	-42.7%	766,938	-90.4%	7,998,283

Prepaid expenses

			31/12/2013		31/12/2012		31/12/2011
	Prepaid expenses	Net	92,228	-53.9%	199,962	18.4%	168,937
	Gross	CH	92,228	-53.9%	199,962	18.4%	168,937
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
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)

		31/12/2013		31/12/2012		31/12/2011
Grand Total (I to V)	EE	74,595,121	-11.3%	84,058,214	1.0%	83,248,928

Shareholder Equity (I)

			31/12/2013		31/12/2012		31/12/2011
	Total shareholders' equity (Total I)	DL	15,730,775	-33.8%	23,756,813	-31.2%	34,531,275
	Equity and shareholders' equity	DA	53,235,930	0%	53,235,930	2.0%	52,188,150
	Issue and merger premiums	DB	3,296,449	0%	3,296,449	580.9%	484,143
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	404,781	0%	404,781	0%	404,781
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-34,884,463	-73.4%	-20,123,176	-4.4%	-19,281,613
	Profit or loss for the period	DI	-8,304,163	43.7%	-14,761,287	-1654.0%	-841,563
	Investment grants	DJ	1,982,241	16.3%	1,704,116	8.0%	1,577,377
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Total provisions for risks and charges (Total III)	DR	11,920,582	-21.3%	15,154,927	32.6%	11,429,190
	Risk provisions	DP	50,000	0%	50,000	-98.2%	2,765,743
	Reserves for charges	DQ	11,870,582	-21.4%	15,104,927	74.4%	8,663,447

Liabilities (IV)

			31/12/2013		31/12/2012		31/12/2011
	Total Liabilities (Total IV)	EC	46,943,764	4.0%	45,146,472	21.1%	37,288,463
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	82,363	-91.7%	986,759	0%	0
	Sundry loans and financial liabilities	DV	8,326,341	512.5%	1,359,493	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	2,164,507	0%	0
	Trade accounts payables	DX	25,129,179	31.4%	19,129,110	-2.6%	19,634,654
	Tax and social security liabilities	DY	9,493,709	-10.8%	10,647,806	57.9%	6,745,447
	Fixed asset liabilities	DZ	2,837,200	-38.1%	4,581,340	-21.9%	5,869,716
	Other debts	EA	1,050,941	-80.3%	5,345,457	39.9%	3,821,334

Translation loss (V)

		31/12/2013		31/12/2012		31/12/2011
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2013		31/12/2012		31/12/2011
Deferred income	EB	24,030	-97.4%	932,000	-23.4%	1,217,312

References

		31/12/2013		31/12/2012		31/12/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2013		31/12/2012		31/12/2011
Operating result (Total I-II)	GG	-10,645,577	32.0%	-15,652,880	-92.5%	-8,130,652

2 - Financial result (V - VI)

		31/12/2013		31/12/2012		31/12/2011
Financial result (Total V-VI)	GV	-153,057	-312.6%	72,004	-77.1%	315,102

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

		31/12/2013		31/12/2012		31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-10,798,634	30.7%	-15,580,876	-99.4%	-7,815,550

4 - Extraordinary result (VII-VIII)

		31/12/2013		31/12/2012		31/12/2011
Extraordinary result (Total VII-VIII)	HI	2,330,037	184.3%	819,588	-88.2%	6,942,578

Profit or loss

		31/12/2013		31/12/2012		31/12/2011
Profit or loss	HN	-8,304,163	43.7%	-14,761,287	-1654.0%	-841,562

Total Income (I+III+V+VII)

		31/12/2013		31/12/2012		31/12/2011
Total Income (I+III+V+VII)	HL	142,762,641	67.2%	85,358,891	-14.7%	100,104,472

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

		31/12/2013		31/12/2012		31/12/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	151,066,804	50.9%	100,120,179	-0.8%	100,946,029

Operating income (I)

		31/12/2013		31/12/2012		31/12/2011
Total operating income (Total I)	FR	138,437,887	70.2%	81,357,212	-10.7%	91,076,871

Operating income (details)

			31/12/2013		31/12/2012		31/12/2011
	Sale of goods for resale	FC	68,590	2017.0%	3,240	-83.5%	19,646
	France	FA	39,920	0%	0	0%	19,202
	Export	FB	28,670	784.9%	3,240	629.7%	444
	Sale of goods produced	FF	117,252,552	81.9%	64,454,167	-8.3%	70,280,709
	France	FD	30,661,186	39.8%	21,931,595	-18.4%	26,876,000
	Export	FE	86,591,365	103.6%	42,522,572	-2.0%	43,404,709
	Sale of services	FI	8,782,429	121.5%	3,964,134	18.7%	3,338,338
	France	FG	3,602,126	129.5%	1,569,331	23.3%	1,272,942
	Export	FH	5,180,303	116.3%	2,394,803	15.9%	2,065,396
	Net turnover	FL	126,103,571	84.3%	68,421,541	-7.1%	73,638,693
	France	FJ	34,303,232	46.0%	23,500,926	-16.6%	28,168,144
	Export	FK	91,800,339	104.4%	44,920,615	-1.2%	45,470,549
	Stocked production	FM	-1,219,824	-32.4%	-921,200	-438.1%	272,499
	Self-constructed assets	FN	228,159	73.0%	131,894	-32.1%	194,159
	Operating grants	FO	10,344,564	-15.9%	12,302,752	-20.2%	15,408,500
	Release of reserves and provisions	FP	2,971,407	108.9%	1,422,206	-9.0%	1,562,680
	Other income	FQ	10,011	52589.5%	19	-94.4%	340

Operating charges (II)

		31/12/2013		31/12/2012		31/12/2011
Total operating charges (Total II)	GF	149,083,464	53.7%	97,010,092	-2.2%	99,207,523

Exploitation charges

		31/12/2013		31/12/2012		31/12/2011
Purchase of goods for resale	FS	0	0%	0	0%	100
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	62,272,943	84.6%	33,741,614	-14.9%	39,637,618
Change in stocks of raw materials	FV	522,221	-54.1%	1,137,362	196.8%	-1,174,538
Other external purchases and charges	FW	31,709,241	13.4%	27,957,760	16.5%	24,005,902
Tax, duty and similar payments	FX	2,199,984	54.5%	1,424,319	-6.2%	1,517,993
Payroll	FY	30,588,709	73.0%	17,686,445	-12.4%	20,184,224
Social security costs	FZ	13,613,967	61.1%	8,451,870	-2.8%	8,695,384

Depreciation

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	6,203,115	42.4%	4,357,627	-1.9%	4,442,079
Amortisation of fixed assets	GB	0	0%	45,389	0%	0
Depreciation/amortisation of current assets	GC	642,766	-12.9%	738,227	-22.5%	953,031
Provisions for risks and charges	GD	1,166,096	-20.6%	1,468,963	55.3%	945,730

Other charges

		31/12/2013		31/12/2012		31/12/2011
Other charges	GE	164,421	31764.5%	516	0%	0

Operating charges (III-IV)

		31/12/2013		31/12/2012		31/12/2011
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)

			31/12/2013		31/12/2012		31/12/2011
	Total financial income (Total V)	GP	20,126	-86.3%	146,525	-62.5%	391,189
	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	377	-99.7%	141,939	-63.6%	390,352
	Released provisions and transferred charges	GM	0	0%	0	0%	98
	Exchange gains	GN	19,749	330.6%	4,586	520.6%	739
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2013		31/12/2012		31/12/2011
	Total financial charge (Total VI)	GU	173,183	132.4%	74,521	-2.1%	76,087
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	147,316	101.6%	73,074	1.6%	71,943
	Exchange losses	GS	25,867	1687.6%	1,447	-65.1%	4,144
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary income (Total VII)	HD	4,304,628	11.7%	3,855,154	-55.4%	8,636,412
	Extraordinary operating income	HA	7,047	-96.5%	199,092	744.6%	23,571
	Extraordinary income from capital transactions	HB	1,168,383	258.9%	325,522	-22.6%	420,414
	Released provisions and transferred charges	HC	3,129,198	-6.0%	3,330,540	-59.3%	8,192,427

Extraordinary charges (VIII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary charges (Total VIII)	HH	1,974,590	-35.0%	3,035,566	79.2%	1,693,834
	Extraordinary operating charges	HE	246,461	-47.2%	467,106	2189.4%	20,403
	Extraordinary charges from capital transactions	HF	590,678	455.7%	106,302	-32.4%	157,259
	Extraordinary reserves and provisions	HG	1,137,452	-53.8%	2,462,158	62.4%	1,516,172

Employee profit sharing (IX)

		31/12/2013		31/12/2012		31/12/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2013		31/12/2012		31/12/2011
Tax on profits (Total X)	HK	-164,434	0%	0	0%	-31,415

References

		31/12/2013		31/12/2012		31/12/2011
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)

			31/12/2013		31/12/2012		31/12/2011
	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	14,848,626	1363.8%	1,014,364	-35.6%	1,575,186
	Decreasess by transfers	OK2	14,533,901	829.3%	1,563,972	244.4%	454,174
	Gross value at the end of period	OL	97,120,073	-5.1%	102,324,917	47.0%	69,605,652

Research and development Charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	KD	17,125,174	8.3%	15,808,182	9.8%	14,395,809
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	139,756	-89.4%	1,316,993	-7.6%	1,424,836
	Decreasess by budget item transfer	LV1	102,457	0%	0	0%	0
	Decreasess by transfers	LV2	218,240	0%	0	0%	12,464
	Gross value at the end of period	LW	16,944,233	-1.1%	17,125,175	8.3%	15,808,181

Tangible fixed assets (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LN	85,053,314	58.5%	53,655,621	24.8%	42,997,747
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	24,037,927	-29.3%	33,976,029	168.1%	12,674,769
	Decreasess by budget item transfer	NG1	14,746,169	1353.7%	1,014,364	-35.6%	1,575,186
	Decreasess by transfers	NG2	14,315,432	815.3%	1,563,973	254.1%	441,710
	Gross value at the end of period	NH	80,029,640	-5.9%	85,053,313	58.5%	53,655,620

Fiancial assets (Total IV)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LQ	146,429	3.2%	141,849	65.4%	85,761
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	4,580	-91.8%	56,088
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	229	0%	0	0%	0
	Gross value at the end of period	NK	146,200	-0.2%	146,429	3.2%	141,849

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

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	PE	2,240,525	144.7%	915,670	38.2%	662,570
Increases		PF	359,059	-72.9%	1,324,855	423.5%	253,100
Decreasess		PG	218,240	0%	0	0%	0
	Decreasess by budget item transfer	PH	2,381,345	6.3%	2,240,525	144.7%	915,670

Total fixed assets amotisation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	QU	34,152,991	60.8%	21,236,134	22.4%	17,344,070
Increases		QV	5,844,059	-55.5%	13,131,145	213.5%	4,188,979
Decreases		QW	444,772	107.6%	214,286	-27.8%	296,914
	Decreasess by budget item transfer	QX	39,552,278	15.8%	34,152,993	60.8%	21,236,135

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		31/12/2012		31/12/2011
	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

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7C	30,297,581	21.5%	24,940,477	-19.8%	31,093,658
Increases		UB	2,946,314	-69.5%	9,669,147	183.1%	3,414,933
Decreases		UC	5,959,273	38.2%	4,312,043	-54.9%	9,568,113
	Value at the end of period	UD	27,284,622	-9.9%	30,297,581	21.5%	24,940,478

Includes Total allocations

Operating	UE	1,808,862	0%	0	0%	1,898,761
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	1,137,452	0%	0	0%	1,516,172

Includes Total Withdrawal

Operating	UF	2,830,076	0%	0	0%	1,375,588
Financial	UH	0	0%	0	0%	98
Exceptional	UK	3,129,198	0%	0	0%	8,192,427

Total regulated provisions (Total I)

			31/12/2013		31/12/2012		31/12/2011
	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		31/12/2012		31/12/2011
	Value at begining of period	5Z	15,154,927	32.6%	11,429,190	-35.2%	17,631,667
Increases		TV	2,303,548	-71.3%	8,037,780	226.5%	2,461,902
Decreases		TW	5,537,894	28.4%	4,312,043	-50.2%	8,664,379
	Value at the end of period	TX	11,920,581	-21.3%	15,154,927	32.6%	11,429,190

Total Provision for depreciation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7B	15,142,654	12.1%	13,511,287	0.4%	13,461,991
Increases		TY	642,766	-60.6%	1,631,367	71.2%	953,031
Decreases		TZ	421,379	0%	0	0%	903,734
	Value at the end of period	UA	15,364,040	1.5%	15,142,654	12.1%	13,511,288

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	17,262,087	25.1%	13,800,402	-50.4%	27,816,300
1 year at most	VU	16,831,699	26.2%	13,335,372	-51.5%	27,493,851
More than one year	VV	430,388	-7.4%	465,030	44.2%	322,449

State of loans

		31/12/2013		31/12/2012		31/12/2011
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	146,200	-0.2%	146,429	3.2%	141,849
Other financial assets (1 year at most)	UV	91,200	-0.3%	91,429	63.0%	56,088

Receivables statement of assets

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	375,388	-8.4%	410,030	73.2%	236,688
Other claims customer	UX	5,033,466	-29.0%	7,088,186	13.5%	6,244,414
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	5,848	112.3%	2,755	-60.6%	6,984
Social Security and other social organizations	UZ	13,110	128.2%	5,746	398.4%	1,153
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	2,430,409	-26.6%	3,310,905	10.1%	3,006,109
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	53,599	-93.8%	867,311	38.0%	628,324
Group and Associates	VC	7,420,740	143434.6%	5,170	-100.0%	15,932,111
Accounts receivable (including claims relating to the operation of pension titles)	VR	1,691,099	-4.1%	1,763,908	21.7%	1,449,730

Prepaid

		31/12/2013		31/12/2012		31/12/2011
Prepaid	VS	92,228	-53.9%	199,962	18.4%	168,937

State Debt

			31/12/2013		31/12/2012		31/12/2011
	Total debt (gross)	VY	46,943,762	9.2%	42,981,966	15.3%	37,288,463
1 year at most		VZ2	46,943,762	9.2%	42,981,966	15.3%	37,288,463
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		31/12/2012		31/12/2011
	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%	986,759	0%	0
1 year at most		VG2	0	0%	986,759	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	82,363	0%	0	0%	0
1 year at most		VH2	82,363	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	927	-99.9%	1,359,493	0%	0
1 year at most		8A2	927	-99.9%	1,359,493	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	25,129,179	31.4%	19,129,110	-2.6%	19,634,654
1 year at most		8B2	25,129,179	31.4%	19,129,110	-2.6%	19,634,654
More than 1 year and 5 years at most		8B3	25,129,179	31.4%	19,129,110	-2.6%	19,634,654
	Personnel and associated accounts (gross)	8C1	3,897,222	-10.1%	4,333,535	51.1%	2,868,544
1 year at most		8C2	3,897,222	-10.1%	4,333,535	51.1%	2,868,544
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	4,653,726	-7.9%	5,051,038	67.2%	3,021,041
1 year at most		8D2	4,653,726	-7.9%	5,051,038	67.2%	3,021,041
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	72,600	180.8%	25,851	1.5%	25,475
1 year at most		VW2	72,600	180.8%	25,851	1.5%	25,475
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	870,161	-29.7%	1,237,382	49.0%	830,388
1 year at most		VQ2	870,161	-29.7%	1,237,382	49.0%	830,388
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	2,837,200	-38.1%	4,581,340	-21.9%	5,869,716
1 year at most		8J2	2,837,200	-38.1%	4,581,340	-21.9%	5,869,716
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	8,325,413	0%	0	0%	0
1 year at most		VI2	8,325,413	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	1,050,941	-80.3%	5,345,457	39.9%	3,821,334
1 year at most		8K2	1,050,941	-80.3%	5,345,457	39.9%	3,821,334
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	24,030	-97.4%	932,000	-23.4%	1,217,312
1 year at most		8L2	24,030	-97.4%	932,000	-23.4%	1,217,312
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
Average number of employees	YP	688	76.4%	390	-4.4%	408

Groups and Shareholders

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Fixed Asset Financing		0.92	5.7%	0.87	-24.3%	1.15	1.45	-36.6%
Global Debt		134 days	-43.7%	238 days	30.8%	182 days	141 days	-5.0%
Working Capital Fund overall net		-21 days	69.1%	-68 days	-236.0%	50 days	97 days	-121.6%
Financial independence		187.08%	-81.5%	1012.54%	-	%	331.61%	-43.6%
More ratios
Solvability		21.09%	-25.4%	28.26%	-31.9%	41.48%	47.14%	-55.3%
Capacity debt futures		19099.32%	693.3%	2407.56%	-	%	3130.61%	510.1%
Coverage of current assets by net working capital overall		-21.02%	45.8%	-38.81%	-285.4%	20.93%	47.72%	-144.0%
General Liquidity		0.36	16.1%	0.31	-58.1%	0.74	0.79	-54.4%
Restricted Liquidity		0.37	12.1%	0.33	-65.3%	0.95	1.06	-65.1%

Management or rotation

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Need background in operating working capital		-22 days	67.6%	-68 days	-525.0%	16 days	57.50 days	-138.3%
Treasury		1 days	-75.0%	4 days	-89.7%	39 days	11.50 days	-91.3%
Inventory turnover of goods		days	-	days	-	0 days	59.50 days	-
Average length of credit granted to customers		15 days	-61.5%	39 days	21.9%	32 days	64.50 days	-76.7%
Average length of credit obtained suppliers		96 days	-12.7%	110 days	-2.7%	113 days	74 days	29.7%
More ratios
Inventory turnover of raw materials in industrial enterprises		59 days	-47.8%	113 days	50.7%	75 days	79.50 days	-25.8%
Inventory turnover of intermediate and finished products in the industrial enterprise		158 days	97.5%	80 days	-41.6%	137 days	306 days	-48.4%
Rotation tangible assets		157.57%	95.9%	80.45%	-41.4%	137.24%	304.90%	-48.3%

Profitability of the business

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Margin trading		0.05%	0%	0%	0%	0.03	0%	0%
Profitability of the business		-4.32	71.7%	-15.29	-236.0%	-4.55	8.33%	-151.9%
Net profit		-6.59%	69.4%	-21.57%	-1792.1%	-1.14%	4%	-264.8%
More ratios
Growth rate of turnover (excluding VAT)		84.30%	1290.7%	-7.08%	-159.8%	11.83%	1.82%	4531.9%
Rates integration		24.27%	246.2%	7.01%	-55.6%	15.80%	36.19%	-32.9%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		144.42%	-73.5%	545.06%	119.6%	248.19%	65.27%	121.3%
Weight interests		0.14	27.3%	0.11%	10.0%	0.10%	0.51%	-72.5%

Return on capital

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Cash flow from the overall profitability		-5.95%	49.8%	-11.86%	-85.3%	-6.40%	7.44%	-180.0%
Rates of economic profitability		-23%	42.5%	-40%	-300%	-10%	14%	-264.3%
Financial profitability		15730775%	-33.8%	23756813%	-31.2%	34531275%	4317502%	264.3%
Return on investment		-33.68%	40.1%	-56.26%	-2434.2%	-2.22%	9.68%	-447.9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Turnover	126,103,571	84.3%	68,421,541	-7.1%	73,638,693	13,152,338 €	858.8%

Sales of goods	68,590	2017.0%	3,240	-83.5%	19,646
- Purchase of goods	0	0%	0	0%	100
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	68,590 €	2017.0%	3,240 €	-83.4%	19,546 €	0 €	0%
	0.05 % CA	0%	0.00 % CA	0%	0.03 % CA	0 % CA	0%

Sale of goods produced	126,034,981	84.2%	68,418,301	-7.1%	73,619,047
+/- Stocked production	-1,219,824	-32.4%	-921,200	-438.1%	272,499
+ Self-constructed assets	228,159	73.0%	131,894	-32.1%	194,159
Period production	125,043,316 €	84.9%	67,628,995 €	-8.7%	74,085,705 €	10,478,101 €	1093.4%
	99.16 % CA	0.3%	98.84 % CA	-1.8%	100.61 % CA	99.08 % CA	0.1%

Trading margin	68,590	2017.0%	3,240	-83.4%	19,546	0	0%
+ Period Production	125,043,316	84.9%	67,628,995	-8.7%	74,085,705	10,478,101	1093.4%
- Purchase of raw materials	62,272,943	84.6%	33,741,614	-14.9%	39,637,618
+/- Change in stocks of raw materiels	522,221	-54.1%	1,137,362	196.8%	-1,174,538
- Other external purchases and charges	31,709,241	13.4%	27,957,760	16.5%	24,005,902
Added value	30,607,501 €	538.3%	4,795,499 €	-58.8%	11,636,269 €	3,957,722 €	673.4%
	24.27 % CA	246.2%	7.01 % CA	-55.6%	15.80 % CA	36.19 % CA	-32.9%

Added value	30,607,501 €	538.3%	4,795,499 €	-58.8%	11,636,269 €	3,957,722 €	673.4%
+ Operating grants	10,344,564	-15.9%	12,302,752	-20.2%	15,408,500
- Tax, duty and similar payments	2,199,984	54.5%	1,424,319	-6.2%	1,517,993
- Personal charges	44,202,676	69.1%	26,138,315	-9.5%	28,879,608
Gross operating surplus	-5,450,595 €	47.9%	-10,464,383 €	-212.1%	-3,352,832 €	583,841 €	-1033.6%
	-4.32 % CA	71.7%	-15.29 % CA	-236.0%	-4.55 % CA	8.33 % CA	-151.9%

Gross operating surplus	-5,450,595 €	47.9%	-10,464,383 €	-212.1%	-3,352,832 €	583,841 €	-1033.6%
+ Release of reserves and provisions	2,971,407	108.9%	1,422,206	-9.0%	1,562,680
+ Other operating income	10,011	52589.5%	19	-94.4%	340
- Depreciation/Amortisation	8,011,977	21.2%	6,610,206	4.2%	6,340,840
- Other charges	164,421	31764.5%	516	0%	0
Operating result	-10,645,575 €	32.0%	-15,652,880 €	-92.5%	-8,130,652 €	369,448 €	-2981.5%
	-8.44 % CA	63.1%	-22.88 % CA	-107.2%	-11.04 % CA	5.46 % CA	-254.6%

Operating result	-10,645,575 €	32.0%	-15,652,880 €	-92.5%	-8,130,652 €	369,448 €	-2981.5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	20,126	-86.3%	146,525	-62.5%	391,189
- Financial charges	173,183	132.4%	74,521	-2.1%	76,087
Pre-tax result	-10,798,632 €	30.7%	-15,580,876 €	-99.4%	-7,815,550 €	321,953 €	-3454.1%
	-8.56 % CA	62.4%	-22.77 % CA	-114.6%	-10.61 % CA	5.35 % CA	-260.0%

Extraordinary income	4,304,628	11.7%	3,855,154	-55.4%	8,636,412	59,415	7145.0%
- Extraordinary charges	1,974,590	-35.0%	3,035,566	79.2%	1,693,834
Extraordinary result	2,330,038 €	184.3%	819,588 €	-88.2%	6,942,578 €	-41 €	5683119.5%
	1.85 % CA	54.2%	1.20 % CA	-87.3%	9 % CA	-00.01 % CA	18600%

Pre-tax result	-10,798,632 €	30.7%	-15,580,876 €	-99.4%	-7,815,550 €	321,953 €	-3454.1%
Extraordinary result	2,330,038 €	184.3%	819,588 €	-88.2%	6,942,578 €	-41 €	5683119.5%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-164,434	0%	0	0%	-31,415
Net result	-8,304,160 €	43.7%	-14,761,288 €	-1654.0%	-841,557 €	354,831 €	-2440.3%
	-6.59 % CA	69.4%	-21.57 % CA	-1792.1%	-1.14 % CA	04 % CA	-264.8%

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	05/08/2009
Status of Monitoring	No social security and tax office preferential right to date

Group data

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

Group Structure

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MARINOPOULOS HOLDING CYPRUS LIMITED

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Company Name	SIREN	Parts	Last account published
MARINOPOULOS HOLDING CYPRUS LIMITED	-	-	-
MARINOPOULOS BROS CYPRUS LTD	-	100%	-
FAMAR SA LUXEMBOURG	-	100%	-
LABORATOIRE FAMAR - FFH	448572651	100%	31/12/2013
FAMAR L'AIGLE	410310148	100%	31/12/2013
FAMAR ORLEANS	493414403	99.80%	31/12/2013
FAMAR DEVELOPPEMENT	509679122	100%	31/12/2013
FAMAR FRANCE	434534541	100%	31/12/2012
FAMAR LYON	410091284	100%	31/12/2013

Shareholders

Type of shareholder

Shareholders

Linkages

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

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
07/10/2014	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 3512 - 493414403 RCS. Famar Orléans. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr Cedex 2 45071 Orléans. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
12/09/2013	JAL	Appointment of the social representative
Courrier du Loiret (Le) Date de décision : 29/07/2013 Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Monsieur Loïc DE TARADE, 37420 BEAUMONT EN VERON En la fonction de : Directeur général
12/09/2013	JAL	Resignation / Revocation of the social representative
Courrier du Loiret (Le) Date de décision : 29/07/2013 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Monsieur Régis MARTIN
12/09/2013	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
Courrier du Loiret (Le) Date de décision : 29/07/2013 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 493414403 -  FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Date d'effet : 29/07/2013
09/09/2013	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 7436 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
17/05/2013	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 940 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Directeur général, Pharmacien responsable : ASCIONE Michèle Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : CHAUMARTIN-ROESCH Anik. Capital : 53235930 EUR. Activité : . Commentaires : Modification survenue sur le capital, l'administration et Scission - L236-1 à compter du 31/12/2012 : Personne(s) morale(s) ayant participé à l'opération : FAMAR FRANCE, Société par actions simplifiée (SAS), 1 avenue du Champ de Mars 45072 ORLEANS CEDEX 2 (RCS ORLEANS (4502) 434 534 541).
03/01/2013	JAL	Modification of the share capital
Courrier du Loiret (Le) Date de décision : 31/12/2012 La société : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS a subi une augmentation de son capital social désormais de 53 235 930 € Date d'effet : 01/01/2013
03/01/2013	JAL	Resignation / Revocation of the social representative
Courrier du Loiret (Le) Date de décision : 31/12/2012 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Madame Michèle ASCIONE, 1 Rue du Cheval Rouge, 45000, ORLEANS, De Madame Michèle ASCIONE, 1 Rue du Cheval Rouge, 45000, ORLEANS, De Monsieur Hendrick DUQUESNE
03/01/2013	JAL	Appointment of the social representative
Courrier du Loiret (Le) Date de décision : 31/12/2012 Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Madame Christine CHARPENTIER, 45100 ORLEANS Nominé : Madame Christine CHARPENTIER, 45100 ORLEANS
22/08/2012	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 7993 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
10/08/2012	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 1554 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : CHAUMARTIN-ROESCH Anik. Activité : . Commentaires : Modification survenue sur l'administration.
23/02/2012	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 638 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Capital : 52188150 EUR. Activité : . Commentaires : Modification survenue sur le capital.
06/09/2010	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 5270 - 493414403 RCS. FAMAR ORLEANS. Forme : Société par actions simplifiée. Adresse : 5 avenue de Concyr 45071 Orléans Cedex 2. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
05/08/2010	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 1471 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : LABORATOIRE FAMAR - FFH Directeur général : MARTIN Régis Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Commentaires : Modification survenue sur l'administration.
22/07/2010	JAL	Resignation / Revocation of the social representative
LE COURRIER DU LOIRET Date de décision : 25/06/2010 La société 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Fait l'objet du départ de Monsieur Georgios ENGLEZAKIS-GELNTZAKIS
22/07/2010	JAL	Appointment of the social representative
LE COURRIER DU LOIRET Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : Monsieur Régis MARTIN, 1 ALLEE DES HARAS, 92380 GARCHES En la fonction de : DG - Directeur Général
22/07/2010	JAL	Appointment of the social representative
LE COURRIER DU LOIRET Société faisant l'objet d'une nomination : 493414403 - FAMAR ORLEANS, 5 AV DE CONCYR, 45100 ORLEANS Nominé : En la fonction de : Présidente
26/08/2009	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 1773 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Administration : Président : ENGLEZAKIS Georgios Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Commentaires : Modification survenue sur l'administration.
06/08/2009	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 446 - 493 414 403 RCS Orléans. FAMAR ORLÉANS. Forme : Société par actions simplifiée. Enseigne : Famar Orléans - McNeil Manufacturing. Administration : Président : ENGLEZAKIS Georgios Directeur général pharmacien responsable : SOULARD Dominique Pierre Emmanuel Directeur général pharmacien responsable : Duquesne Hendrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Adresse du siège social : 5 avenue de Concyr, 45071 Orléans Cedex 2. Commentaires : Modification survenue sur l'administration, la dénomination, le nom commercial et transfert du siège social.
05/06/2009	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 11042 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
03/12/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9858 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
29/07/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 8033 - 493414403 RCS. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Adresse : 1 rue Camille Desmoulins 92130 Issy-les-Moulineaux. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
31/05/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1714 - 493 414 403 RCS Nanterre. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDITCommissaire aux comptes suppléant : BORIS Etienne. Président : DE BACKER Philippe en fonction le 09 Février 2007. Directeur général (pharmacien responsable) : DUQUESNE Hendrick en fonction le 22 Mai 2008. Commentaires : Modification de représentant.
15/01/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1722 - 493 414 403 RCS Nanterre. MCNEIL MANUFACTURING. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : BORIS Etienne. Président : DE BACKER Philippe en fonction le 09 Février 2007. Directeur général (pharmacien responsable) : SOULARD Dominique en fonction le 29 Mars 2007. Commentaires : Modification de représentant.
01/08/2007	Bodacc B	Modifications et mutations diverses
1359 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Capital : 50 162 540 euros. Commentaires : modification survenue sur le capital (augmentation).
24/04/2007	Bodacc B	Modifications et mutations diverses
1521 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : nomination d'un directeur général et pharmacien responsable : SOULARD (Dominique).
18/03/2007	Bodacc A	Vente et cession
0861 - RCS Nanterre B 493 414 403. McNEIL MANUFACTURING. Forme : S.A.S. Adresse du siège social : 1 rue Camille-Desmoulins, 92130 Issy-les-Moulineaux. Etablissement principal - Activité : fabrication en France, pour la distribution sur le territoire et à l'étranger, de produits de soins de santé sans ordonnance, de produits de soins personnels, de cosmétiques de produits connexes et soumis à ordonnance ainsi que de médicaments vétérinaires . Adresse : 5 avenue de Concyr, 45100 Orléans. Etablissement principal acquis par achat au prix stipulé de 36 503 186 euros. Date de début d'activité : 26 janvier 2007. Précédent propriétaire : PFIZER HOLDING FRANCE. RCS Paris 612 009 936. Publication légale : Le Courrier du Loiret du 15 février 2007. Oppositions : au fonds.
28/02/2007	Bodacc B	Modifications et mutations diverses
1958 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : modification d'un directeur général : MAILLARD (Eric). Nomination du président : DE BACKER (Philippe).
11/01/2007	Bodacc A	Création d'établissement
1156 - RCS Nanterre B 493 414 403. RC 06-B 7654. McNEIL MANUFACTURING. Forme : S.A.S. Capital : 37 000 euros. Adresse du siège social : 1 rue Camille-Desmoulins, 92130 Issy-les-Moulineaux. Administration : président : MAILLARD (Eric). Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : BORIS (Etienne). Cette société se constitue , mais n'exploite provisoirement aucun établissement.

Company events history

Date	Description
07/10/2014	Bodacc C : Deposit accounts notice
06/10/2014	Update Rating
06/10/2014	Update Limit
06/10/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
06/09/2014	Update Rating
30/06/2014	Extension of term
30/06/2014	Application and court order
31/12/2013	New accounts available
18/10/2013	Update Rating
12/09/2013	Legal Gazette: Resignation / Revocation of the social representative
11/09/2013	Update Rating
11/09/2013	Update Limit
11/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
09/09/2013	Bodacc C : Deposit accounts notice
29/08/2013	Appointment/resignation of company officers
29/08/2013	Amendment
29/08/2013	Continuation of business despite loss of equity
29/07/2013	Legal Gazette: Continuation of activity
29/07/2013	Legal Gazette: Appointment of the social representative
18/07/2013	Update Limit
18/07/2013	Update Rating
05/07/2013	New shareholders detected
05/07/2013	New ultimate parent
05/07/2013	Application and court order
05/07/2013	Extension of term
17/05/2013	Bodacc B: Various editing or changing
06/05/2013	Capital increase
06/05/2013	Appointment/resignation of company officers
06/05/2013	Updated articles of association
06/05/2013	Amendment
06/05/2013	Declaration of conformity
06/05/2013	Partial contribution
03/01/2013	Legal Gazette: Resignation / Revocation of the social representative
31/12/2012	Legal Gazette: Appointment of the social representative
31/12/2012	Legal Gazette: Modification of the share capital
31/12/2012	New accounts available
21/12/2012	Audit or Management Report
25/10/2012	Amendment
25/10/2012	Application and court order
31/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
22/08/2012	Bodacc C : Deposit accounts notice
10/08/2012	Bodacc B: Various editing or changing
26/07/2012	Minutes of general meeting of shareholders
26/07/2012	New auditor
06/04/2012	New ultimate parent
06/04/2012	New parent detected
23/02/2012	Bodacc B: Various editing or changing
10/02/2012	Updated articles of association
10/02/2012	Minutes of general meeting of shareholders
10/02/2012	Declaration of conformity
10/02/2012	Capital increase
31/12/2011	New accounts available
31/12/2011	Modification to Establishment Address or Identifier
31/12/2011	Update of Company Workforce
23/12/2011	Audit or Management Report
01/12/2011	Amendment
01/12/2011	Application and court order
01/12/2011	Partial contribution
01/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
26/07/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
06/09/2010	Bodacc C : Deposit accounts notice
05/08/2010	Bodacc B: Various editing or changing
22/07/2010	Legal Gazette: Resignation / Revocation of the social representative
21/07/2010	Changement de Président (PDG, PCA)
21/07/2010	New chairman (CEO, CoB)
21/07/2010	Amendment
21/07/2010	Acte modificatif
25/06/2010	Legal Gazette: Appointment of the social representative
31/12/2009	New accounts available
26/08/2009	Bodacc B: Various editing or changing
12/08/2009	Acte modificatif
12/08/2009	Appointment/resignation of company officers
12/08/2009	Amendment
12/08/2009	Minutes of general meeting of shareholders
12/08/2009	Private document
12/08/2009	Correction of a material error
06/08/2009	Bodacc B: Various editing or changing
05/08/2009	Collection of preferential rights activated for this company
15/07/2009	Amendment
15/07/2009	Acte modificatif
15/07/2009	Updated articles of association
15/07/2009	Statuts mis à jour
15/07/2009	Minutes of general meeting of shareholders
15/07/2009	Appointment/resignation of company officers
15/07/2009	Private document
15/07/2009	New company name
15/07/2009	Changement de dénomination sociale
15/07/2009	Registration after transfer
15/07/2009	Registered office transferred inside jurisdiction of the Commercial Court
15/07/2009	Transfert du Siège dans le ressort du Tribunal de Commerce
30/06/2009	Transfer of Establishment
30/06/2009	Update of Company Head Office Identifier
30/06/2009	Update of Company Name
05/06/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
11/12/2008	Private document
11/12/2008	Appointment/resignation of company officers
11/12/2008	Minutes of general meeting of shareholders
11/12/2008	Acte modificatif
11/12/2008	Amendment
03/12/2008	Bodacc C : Deposit accounts notice
29/07/2008	Bodacc C : Deposit accounts notice
30/06/2008	Application and court order
30/06/2008	Prorogation de durée
30/06/2008	Extension of term
30/06/2008	Requête et Ordonnance
31/05/2008	New Bodacc B ads detected
31/05/2008	Bodacc B: Various editing or changing
22/05/2008	Changes to the Board of Directors
22/05/2008	Modification du Conseil d'Administration
22/05/2008	Acte modificatif
22/05/2008	Nomination/démission des organes de gestion
22/05/2008	Amendment
15/01/2008	Bodacc B: Various editing or changing
15/01/2008	New Bodacc B ads detected
20/12/2007	Modification du Conseil d'Administration
20/12/2007	Changes to the Board of Directors
20/12/2007	Amendment
20/12/2007	Acte modificatif
20/12/2007	Minutes of general meeting of shareholders
20/12/2007	Appointment/resignation of company officers
20/12/2007	Private document
09/07/2007	Acte modificatif
09/07/2007	Augmentation de Capital
09/07/2007	Capital increase
09/07/2007	Audit or Management Report
09/07/2007	Rapport des Commissaires ou du Gérant
09/07/2007	Updated articles of association
09/07/2007	Statuts mis à jour
09/07/2007	Minutes of general meeting of shareholders
09/07/2007	Private document
29/03/2007	Appointment/resignation of company officers
29/03/2007	Modification du Conseil d'Administration
29/03/2007	Acte modificatif
29/03/2007	Minutes of general meeting of shareholders
29/03/2007	Private document
09/02/2007	Minutes of general meeting of shareholders
09/02/2007	Modification de l'objet social
09/02/2007	Changement de Président (PDG, PCA)
09/02/2007	Change to corporate purpose
09/02/2007	Private document
09/02/2007	Appointment/resignation of company officers
09/02/2007	Acte modificatif
09/02/2007	Statuts mis à jour
09/02/2007	Updated articles of association
26/01/2007	Update of Company Concern status
26/01/2007	Update of Company Activity
26/01/2007	Formation of Establishment
19/12/2006	Certificat de dépôt des fonds
19/12/2006	Private document
19/12/2006	Company formation
19/12/2006	Formation de Société
19/12/2006	Fund deposit certificate
19/12/2006	Statuts
19/12/2006	Articles of association
19/12/2006	Acte modificatif

directors

Shareholder(s)

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

Name	Mme. ASCIONE MICHÈLE
Manager position	Managing director	Date of birth	19/04/1967
Place of birth	MONTREUIL (93100)
Type	Individual	Name at birth

Name	M. DE TARADE LOÃ�C
Manager position	Managing director	Date of birth	06/10/1963
Place of birth	EURALILLE (59777)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M PHILIPPE DE BACKER	- - -
President	M PHILIPPE DE BACKER	5/2/1955 - RENAIX BELGIQUE
President	M GEORGIOS ENGLEZAKIS	6/17/1947 - HERAKLION GRECE
President	M ERIC MAILLARD	- - -
Managing director	Mme MICHÈLE ASCIONE	4/19/1967 - MONTREUIL (93)
Managing director	M LO�C DE TARADE	10/6/1963 - LILLE (59)
Managing director	M HENDRICK DUQUESNE	- - -
Managing director	M HENDRICK DUQUESNE	12/30/1963 - ABBEVILLE (80)
Managing director	M HENDRICK DUQUESNE	12/30/1963 - ABBEVILLE
Managing director	M HENDRICK DUQUESNE	12/30/1963 - ABBEVILLE (80)
Managing director	M ERIC MAILLARD	1/14/1958 - ISSY LES MOULINEAUX
Managing director	M RÉGIS MARTIN	9/2/1959 - MARSEILLE (13)
Managing director	M RÉGIS MARTIN	9/2/1959 - MARSEILLE (13)
Managing director	M DOMINIQUE SOULARD	- - -
Managing director	M DOMINIQUE SOULARD	9/24/1968 - CHATELLERAULT
Managing director	M HENDRICK DUQUESNE	12/30/1963 - ABBEVILLE (80)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIS

RATING EXPLANATIONS

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

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

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

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

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

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