MIRA INFORM REPORT

Report Date :

11.02.2014

IDENTIFICATION DETAILS

Name :	CENTRALE EPICES ASSAISONNEMENT CONDIME
Registered Office :	Parc Activites Gemenos, 25 AV Coulin, BP 125, 13881 Gemenos Cedex
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	January, 1962
Com. Reg. No.:	RCS Marseille 6 062 805 585
Legal Form :	Simplified joint stock company
Line of Business :	Manufacture of condiments and seasonings
No. of Employees :	92

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.

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.8% of GDP in 2012, while France's public debt rose from 68% of GDP to 90% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

CENTRALE EPICES ASSAISONNEMENT CONDIME

SIRET

062 805 585 00023

Personal comment

Company summary

Acronym	CEPASCO
		EUR VAT Number	FR87062805585
Activity (APE)	Manufacture of condiments and seasonings (1084Z)	Legal form	Simplified joint stock company
Phone		RCS Registration	RCS Marseille 6 062 805 585
Fax
Address	CENTRALE EPICES ASSAISONNEMENT CONDIME CEPASCO PARC ACTIVITES GEMENOS 25 AV COULIN BP 125 13881 GEMENOS CEDEX	Incorporated Date	10/1962
Nationality	France	Status	Economically active

Company details

Activity (APE)	Manufacture of condiments and seasonings (1084Z)
RCS Registration	RCS Marseille 6 062 805 585	Share capital	300,000 Euros
Registration Court	Marseille (13)	Legal form	Simplified joint stock company
Court Registry Number	19 6 2B00558	EUR VAT Number	FR87062805585
Incorporation Date	10/1962	Formation Date	01/1962
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Acronym	CEPASCO
Activity (APE)	Manufacture of condiments and seasonings (1084Z)	Business Pages FT®
Postal Address	CENTRALE EPICES ASSAISONNEMENT CONDIME CEPASCO PARC ACTIVITES GEMENOS 25 AV COULIN BP 125 13881 GEMENOS CEDEX	Trading Address	25 AVENUE COULIN 13420 GEMENOS
Telephone
Fax

Type	Secondary establishment	Status	Economically active
Formation Date	02/1992	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Services	Activity Location	Deposit, warehouse
Location surface		Seasonality

Department	Bouches-du-Rhône (13)	Region	Côte d'Azur
District	3	Area	54
City	GEMENOS	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

DIRECTORS/MANAGEMENT

Current Directors

1

Directors

Shareholder(s)

Name	FINANCIERE SPIGOL
Name of representative
Manager position	President	Date of birth
Place of birth
Type	Moral person	Name at birth

Manager position	Title and name	Date of Birth/Place of Birth
President	MME FREDERIQUE DEBELLE	22/08/1953 - ALGER ALGERIE
President	M SERGE HINCKER	- - -
President	M SERGE HINCKER	23/07/1951 - STRASBOURG
Managing director	M JACQUES DAL PRA	- - -
Managing director	M JACQUES DAL PRA	07/12/1956 - PONTARLIER

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Share capital

300,000 Euros

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data

Payment Information Summary - Trade Payment Data
Total number of Invoices available	2
Total number of Invoices paid within or up to 30 days after the due date	2
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	0
Total number of Invoices currently outstanding beyond the due date	0

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GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	FINANCIERE SPIGOL	513026823

Ultimate Parent

1 ultimate parent company for this company > FINANCIERE SPIGOL  - Fonds de placement et entités financières similaires (6430Z) in GEMENOS  (13420)

Linkages

Ultimate parent company	FINANCIERE SPIGOL
Direct parent	FINANCIERE SPIGOL - 100 %
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

Group data

Ultimate parent company	FINANCIERE SPIGOL
Direct parent	FINANCIERE SPIGOL - 100 %
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries

Company Name	SIREN	Parts	Last account published
FINANCIERE SPIGOL	513026823	-	31/12/2012
CENTRALE EPICES ASSAISONNEMENT CONDI...	062805585	100%	31/12/2012
DULFRANCE S A	475681516	100%	-

FINANCIAL INFORMATION

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	24,619,591 €	21,750,172 €	17,732,743 €
Gross Operating Surplus	0,55 % Turnover	7,97 % Turnover	10,06 % Turnover
Shareholders’ equity	4,004,915 €	5,171,994 €	4,889,085 €
Net result	39,228 €	465,653 €	622,982 €

Trends
Profitability
Liquidity
Net worth

Accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	24/07/2013	21/05/2012	28/10/2011
Activity Code	1084Z	1084Z	1084Z
Employees	92	85	62

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	3 307 937	47,2%	2 246 615	77,9%	1 263 065	243 147	1260,5%
- Intangible assets	412 168	-4,5%	431 398	435,6%	80 544	11 434	3504,8%
- Tangible assets	1 965 829	39,7%	1 407 189	65,2%	852 035	118 922	1553,0%
- Financial assets	929 940	127,9%	408 028	23,5%	330 486	1 822	50939,5%
Net current assets	10 721 018	10,6%	9 691 877	32,8%	7 298 851	642 886	1567,6%
- Stocks	5 408 713	2,5%	5 276 434	19,6%	4 411 004	210 924	2464,3%
- Advanced payments	0	10,6%	106 130	-2,0%	108 258	0	0%
- Receivables	4 328 279	0,6%	4 302 610	65,0%	2 607 874	250 798	1625,8%
- Securities and cash	984 026	14580,4%	6 703	-96,1%	171 711	57 816	1602,0%
- Prepaid expenses	-	-	-	-	-	2 135	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	14 028 956	17,5%	11 938 494	39,4%	8 561 917	847 790	1554,8%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Shareholders' equity	4 004 915	-22,6%	5 171 994	5,8%	4 889 085	369 176	984,8%
Share capital	300 000	0%	300 000	0%	300 000	80 000	275,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	201 701	0%	201 701	0	0%
Liabilities	10 024 037	52,7%	6 564 794	89,1%	3 471 128	535 795	1770,9%
- Financial liabilities	4 650 291	36,7%	3 402 476	448,6%	620 178	122 223	3704,8%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2 143 778	10,6%	1 939 169	38,0%	1 404 945	159 769	1241,8%
- Tax and social liabilities	1 240 656	9,0%	1 138 192	30,2%	873 921	107 160,50	1057,8%
- Other debts and fixed assets liabilities	1 989 312	2241,6%	84 957	-85,1%	572 084	18 593	10599,3%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	14 028 956	17,5%	11 938 494	39,4%	8 561 917	847 790	1554,8%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Sales of Goods	24 815 490	11,7%	22 222 623	19,7%	18 573 020	1 366 212	1716,4%
Net turnover	24 619 591	13,2%	21 750 172	22,7%	17 732 743	1 344 701	1730,9%
- of which net export turnover	4 639 995	168,5%	1 727 890	150,5%	689 696	4 073	113820,8%
Operating charges	25 194 945	20,6%	20 896 025	22,9%	17 002 438	1 331 247	1792,6%
Operating profit/loss	-379 455	-128,6%	1 326 598	-15,5%	1 570 582	28 170	-1447,0%
Financial income	48 333	-15,3%	57 094	-10,0%	63 440	306	15695,1%
Financial charges	183 548	99,4%	92 055	227,6%	28 101	6 465	2739,1%
Financial profit/loss	-135 215	-286,8%	-34 961	-198,9%	35 339	-2 001	-6657,4%
Pre tax net operating income	-514 670	-139,8%	1 291 637	-19,6%	1 605 921	21 232	-2524,0%
Extraordinary income	1 220 043	1029,1%	108 058	532,5%	17 084	5 989	20271,4%
Extraordinary charges	615 121	16,3%	528 752	-15,1%	622 587	3 805	16066,1%
Extraordinary profit/loss	604 922	243,8%	-420 694	30,5%	-605 503	0	0%
Net result	39 228	-91,6%	465 653	-25,3%	622 982	18 789	108,8%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active

Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to VI)	Net	14 028 956	17,5%	11 938 494	39,4%	8 561 917
Gross	CO	17 186 973	18,3%	14 523 570	33,2%	10 903 193
Amortisation	1A	3 158 017	22,2%	2 585 076	10,4%	2 341 276

Non-declared distributed capital (I)

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

Active fixed asset (II)

		31/12/2012		31/12/2011		31/12/2010
Total Active fixed asset (II)	Net	3 307 937	47,2%	2 246 615	77,9%	1 263 065
Gross	BJ	6 102 051	31,3%	4 648 369	35,0%	3 442 028
Amortisation	BK	2 794 114	16,3%	2 401 754	10,2%	2 178 963

Intangible fixed assets

		31/12/2012		31/12/2011		31/12/2010
Start-up cost	Net	0	0%	0	0%	0
Gross	AB	0	0%	0	0%	0
Amortisation	AC	0	0%	0	0%	0
R & D expenses	Net	0	0%	0	0%	0
Gross	CX	0	0%	0	0%	0
Amortisation	AE	0	0%	0	0%	0
Distributorships, patents	Net	114 770	7,5%	106 800	32,6%	80 544
Gross	AF	460 209	15,3%	399 229	22,7%	325 463
Amortisation	AG	345 439	18,1%	292 429	19,4%	244 919
Goodwill	Net	200 000	0%	200 000	0%	0
Gross	AH	200 000	0%	200 000	0%	0
Amortisation	AI	0	0%	0	0%	0
Other intangible fixed assets	Net	97 398	-21,8%	124 598	0%	0
Gross	AJ	135 999	0%	135 999	0%	0
Amortisation	AK	38 601	238,6%	11 401	0%	0
Pre-payments and down payments	Net	0	0%	0	0%	0
Gross	AL	0	0%	0	0%	0
Amortisation	AM	0	0%	0	0%	0

Net

412 168

-4,5%

431 398

435,6%

80 544

Tangilble fixed assets

		31/12/2012		31/12/2011		31/12/2010
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	0	0%	0	0%	0
Gross	AP	0	0%	0	0%	0
Amortisation	AQ	0	0%	0	0%	0
Plant	Net	844 657	-22,4%	1 088 852	68,4%	646 541
Gross	AR	2 930 802	-0,2%	2 935 949	24,4%	2 360 565
Amortisation	AS	2 086 145	12,9%	1 847 097	7,8%	1 714 024
Other tangible fixed assets	Net	1 117 572	257,3%	312 763	52,2%	205 494
Gross	AT	1 441 501	155,8%	563 590	32,4%	425 514
Amortisation	AU	323 929	29,1%	250 827	14,0%	220 020
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	3 600	-35,4%	5 574	0%	0
Gross	AX	3 600	-35,4%	5 574	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	1 965 829		1 407 189		852 035

Financial assets

		31/12/2012		31/12/2011		31/12/2010
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	312 982	0%	312 982	0%	0
Gross	CU	312 982	0%	312 982	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%	312 982
Gross	BD	0	0%	0	0%	312 982
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	1 700	0%	0
Gross	BF	0	0%	1 700	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	616 958	560,9%	93 346	433,3%	17 504
Gross	BH	616 958	560,9%	93 346	433,3%	17 504
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		929 940		408 028		330 486

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2010
Total Assets	Net	10 721 018	10,6%	9 691 877	32,8%	7 298 851
Gross	CJ	11 084 918	12,3%	9 875 197	32,4%	7 461 162
Amortisation	CK	363 900	98,5%	183 320	12,9%	162 311

Stocks

		31/12/2012		31/12/2011		31/12/2010
Raw materials	Net	3 488 262	5,8%	3 295 510	18,2%	2 789 196
Gross	BL	3 542 616	7,3%	3 302 350	18,4%	2 789 196
Amortisation	BM	54 354	694,6%	6 840	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	1 920 451	-3,1%	1 980 924	22,1%	1 621 808
Gross	BR	1 967 803	-0,7%	1 980 924	19,3%	1 660 779
Amortisation	BS	47 352	0%	0	0%	38 971
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	5 408 713	2,5%	5 276 434	19,6%	4 411 004

Advance payments to suppliers

		31/12/2012		31/12/2011		31/12/2010
Advance payments to suppliers	Net	0	0%	106 130	-2,0%	108 258
Gross	BV	0	0%	106 130	-2,0%	108 258
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2012		31/12/2011		31/12/2010
Trade accounts receivable	Net	3 638 159	-5,6%	3 855 810	86,3%	2 069 402
Gross	BX	3 900 353	-3,3%	4 032 290	83,9%	2 192 742
Amortisation	BY	262 194	48,6%	176 480	43,1%	123 340
Other debtors	Net	522 403	32,8%	393 448	-22,6%	508 499
Gross	BZ	522 403	32,8%	393 448	-22,6%	508 499
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	4 160 562	-2,1%	4 249 258	64,8%	2 577 901

Divers

		31/12/2012		31/12/2011		31/12/2010
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	984 026	14580,4%	6 703	-96,1%	171 711
Gross	CF	984 026	14580,4%	6 703	-96,1%	171 711
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	984 026	14580,4%	6 703	-96,1%	171 711

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2010
Prepaid expenses	Net	167 717	214,4%	53 352	78,0%	29 973
Gross	CH	167 717	214,4%	53 352	78,0%	29 973
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive

Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to V)	EE	14 028 956	17,5%	11 938 494	39,4%	8 561 917

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2010
Total shareholders' equity (Total I)	DL	4 004 915	-22,6%	5 171 994	5,8%	4 889 085
Equity and shareholders' equity	DA	300 000	0%	300 000	0%	300 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	30 000	0%	30 000	0%	30 000
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	2 068 740	0,5%	2 059 087	0%	2 059 087
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	114 699	0%	114 699	3832,1%	2 917
Profit or loss for the period	DI	39 228	-91,6%	465 653	-25,3%	622 982
Investment grants	DJ	102 475	-17,7%	124 530	-39,7%	206 614
Special tax-allowable reserves	DK	1 349 773	-35,0%	2 078 025	24,6%	1 667 485

Other capital resources (II)

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

Provisions for risks and charges (III)

		31/12/2012		31/12/2011		31/12/2010
Total provisions for risks and charges (Total III)	DR	0	0%	201 701	0%	201 701
Risk provisions	DP	0	0%	201 701	0%	201 701
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2010
Total Liabilities (Total IV)	EC	10 024 037	52,7%	6 564 794	89,1%	3 471 128
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	2 275 793	9,7%	2 075 419	556,0%	316 385
Sundry loans and financial liabilities	DV	2 374 498	78,9%	1 327 057	336,8%	303 793
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	0	0%	0	0%	0
Trade accounts payables	DX	2 143 778	10,6%	1 939 169	38,0%	1 404 945
Tax and social security liabilities	DY	1 240 656	9,0%	1 138 192	30,2%	873 921
Fixed asset liabilities	DZ	0	0%	27 584	-92,0%	345 253
Other debts	EA	1 989 312	3367,3%	57 373	-74,7%	226 831

Translation loss (V)

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

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Of which tax-allowable reserve	EF	-731 733	0%	0	0%	0
Deferred income and liabilities	EG	929 235	-84,3%	5 931 266	80,5%	3 285 600
Of which current bank facilities	EH	1 224 031	3,3%	1 185 412	15642,5%	7 530

Display parameter
Currency	Euro	Kilo Euro

Result account

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

1- Operating result (I-II)

		31/12/2012		31/12/2011		31/12/2010
Operating result (Total I-II)	GG	-379 455	-128,6%	1 326 598	-15,5%	1 570 582

2 - Financial result (V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	-135 215	-286,8%	-34 961	-198,9%	35 339

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

		31/12/2012		31/12/2011		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-514 670	-139,8%	1 291 637	-19,6%	1 605 921

4 - Extraordinary result (VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	604 922	243,8%	-420 694	30,5%	-605 503

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	39 228	-91,6%	465 653	-25,3%	622 982

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	26 083 866	16,5%	22 387 775	20,0%	18 653 544

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

		31/12/2012		31/12/2011		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	26 044 639	18,8%	21 922 119	21,6%	18 030 562

Operating income (I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	24 815 490	11,7%	22 222 623	19,7%	18 573 020

Operating income (details)

		31/12/2012		31/12/2011		31/12/2010
Sale of goods for resale	FC	0	0%	0	0%	0
France	FA	0	0%	0	0%	0
Export	FB	0	0%	0	0%	0
Sale of goods produced	FF	24 594 360	13,1%	21 737 850	22,7%	17 722 230
France	FD	19 954 365	-0,3%	20 015 895	17,5%	17 038 805
Export	FE	4 639 995	169,5%	1 721 955	152,0%	683 425
Sale of services	FI	25 231	104,8%	12 322	17,2%	10 511
France	FG	25 231	295,0%	6 387	50,6%	4 240
Export	FH	0	0%	5 935	-5,4%	6 271
Net turnover	FL	24 619 591	13,2%	21 750 172	22,7%	17 732 743
France	FJ	19 979 596	-0,2%	20 022 282	17,5%	17 043 045
Export	FK	4 639 995	168,5%	1 727 890	150,5%	689 696
Stocked production	FM	-13 120	-104,1%	320 144	-54,6%	704 583
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	193 873	27,9%	151 624	13,4%	133 672
Other income	FQ	15 146	2117,6%	683	-66,2%	2 022

Operating charges (II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	25 194 945	20,6%	20 896 025	22,9%	17 002 438

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	13 007 267	13,5%	11 462 135	17,9%	9 718 208
Change in stocks of raw materials	FV	-259 478	49,4%	-513 154	33,5%	-771 581
Other external purchases and charges	FW	6 190 718	24,1%	4 989 410	24,4%	4 012 082
Tax, duty and similar payments	FX	456 622	31,7%	346 803	19,5%	290 275
Payroll	FY	3 247 591	25,6%	2 584 797	16,6%	2 217 615
Social security costs	FZ	1 827 934	24,7%	1 466 414	23,6%	1 186 422

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	519 889	60,0%	324 914	64,3%	197 788
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	201 414	57,1%	128 173	9,7%	116 878
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	2 988	-97,2%	106 533	206,6%	34 748

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	48 333	-15,3%	57 094	-10,0%	63 440
Share financial income	GJ	48 000	0%	0	0%	0
Other investment income & capitalised receivables	GK	333	-99,4%	54 752	-11,7%	62 036
Other interest and similar income	GL	0	0%	0	0%	1 396
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	0	0%	2 342	29175,0%	08
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2010
Total financial charge (Total VI)	GU	183 548	99,4%	92 055	227,6%	28 101
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	176 074	105,2%	85 788	205,6%	28 076
Exchange losses	GS	7 474	19,3%	6 267	24968,0%	25
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary income (Total VII)	HD	1 220 043	1029,1%	108 058	532,5%	17 084
Extraordinary operating income	HA	4 876	149,7%	1 953	118,7%	893
Extraordinary income from capital transactions	HB	22 055	8,3%	20 360	72,9%	11 778
Released provisions and transferred charges	HC	1 193 112	1291,5%	85 745	1843,0%	4 413

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary charges (Total VIII)	HH	615 121	16,3%	528 752	-15,1%	622 587
Extraordinary operating charges	HE	350 320	1071,4%	29 906	3835,0%	760
Extraordinary charges from capital transactions	HF	1 642	-35,9%	2 560	0%	0
Extraordinary reserves and provisions	HG	263 159	-47,0%	496 286	-20,2%	621 827

Employee profit sharing (IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	0	0%	79 783	6,7%	74 757

Tax on profits (X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	51 025	-84,3%	325 504	7,5%	302 679

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	22 495	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms

Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increase’s due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreases by budget item transfer	OK1	0	0%	312 982	0%	0
Decreases by transfers	OK2	0	0%	111 334	128,7%	48 684
Gross value at the end of period	OL	0	0%	4 648 371	35,0%	3 442 030

Research and development Charge (Total I)

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

Other budget item from Intangible fixed assets (Total II)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	KD	0	0%	325 463	27,9%	254 423
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	0	0%	428 132	438,3%	79 533
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	18 367	116,3%	8 493
Gross value at the end of period	LW	0	0%	735 228	125,9%	325 463

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LN	0	0%	2 786 078	18,8%	2 345 055
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	0	0%	805 347	70,1%	473 528
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	0	0%	86 315	165,5%	32 506
Gross value at the end of period	NH	0	0%	3 505 110	25,8%	2 786 076

Financial assets (Total IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LQ	0	0%	330 486	-0,2%	331 286
Increase’s due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	0	0%	397 174	5668,7%	6 885
Decreases by budget item transfer	NJ1	0	0%	312 982	0%	0
Decreases by transfers	NJ2	0	0%	6 650	-13,5%	7 685
Gross value at the end of period	NK	0	0%	408 028	23,5%	330 486

Reserve for depreciation

Situation and movement of reserve for depreciation

Grand total (I-II-III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreases		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreases		PC	0	0%	0	0%	0
	Decreases by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	0	0%	244 919	22,8%	199 516
Increases		PF	0	0%	77 279	43,4%	53 896
Decreases		PG	0	0%	18 367	116,3%	8 493
	Decreases by budget item transfer	PH	0	0%	303 831	24,1%	244 919

Total fixed assets amortisation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	0	0%	1 934 043	6,1%	1 822 656
Increases		QV	0	0%	247 634	72,1%	143 889
Decreases		QW	0	0%	83 755	157,7%	32 506
	Decreases by budget item transfer	QX	0	0%	2 097 922	8,5%	1 934 039

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreases by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

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

Provisions included in balance sheet

Grand Total (I-II-III)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7C	0	0%	2 031 497	51,6%	1 339 926
Increases		UB	0	0%	624 459	-15,5%	738 705
Decreases		UC	0	0%	192 910	309,3%	47 135
	Value at the end of period	UD	0	0%	2 463 046	21,2%	2 031 496

Includes Total allocations

Operating	UE	0	0%	128 173	9,7%	116 878
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	496 286	-20,2%	621 827

Includes Total Withdrawal

Operating	UF	0	0%	107 164	150,8%	42 721
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	85 745	1843,0%	4 413

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	3Z	0	0%	1 667 485	54,2%	1 081 570
Increases		TS	0	0%	496 286	-15,9%	590 327
Decreases		TT	0	0%	85 745	1843,0%	4 413
	Value at the end of period	TU	0	0%	2 078 026	24,6%	1 667 484

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	5Z	0	0%	201 701	18,5%	170 201
Increases		TV	0	0%	0	0%	31 500
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	201 701	0%	201 701

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at beginning of period	7B	0	0%	162 311	84,1%	88 154
Increases		TY	0	0%	128 173	9,7%	116 878
Decreases		TZ	0	0%	107 164	150,8%	42 721
	Value at the end of period	UA	0	0%	183 320	12,9%	162 311

State deadlines claims and debts at the end of period

State claims

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	0	0%	4 574 137	66,4%	2 748 720
1 year at most	VU	0	0%	4 479 091	64,0%	2 731 216
More than one year	VV	0	0%	95 046	443,0%	17 504

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	1 700	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	93 346	433,3%	17 504
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	0	0%	127 939	26,5%	101 131
Other claims customer	UX	0	0%	3 904 351	86,7%	2 091 610
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	60	0%	0
Social Security and other social organizations	UZ	0	0%	11 550	11113,6%	103
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	106 086	-53,2%	226 588
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	116 777	-35,1%	180 000
Group and Associates	VC	0	0%	0	0%	87 132
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	158 974	983,3%	14 675

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	0	0%	53 352	78,0%	29 973

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	0	0%	6 564 796	89,1%	3 471 129
1 year at most		VZ2	0	0%	5 931 266	80,5%	3 285 600
More than 1 year and 5 years at most		VZ3	0	0%	633 530	241,5%	185 529
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2012		31/12/2011		31/12/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	1 185 412	15642,5%	7 530
1 year at most		VG2	0	0%	1 185 412	15642,5%	7 530
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	890 006	188,2%	308 855
1 year at most		VH2	0	0%	256 476	108,0%	123 326
More than 1 year and 5 years at most		VH3	0	0%	633 530	241,5%	185 529
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	1 939 169	38,0%	1 404 945
1 year at most		8B2	0	0%	1 939 169	38,0%	1 404 945
More than 1 year and 5 years at most		8B3	0	0%	1 939 169	38,0%	1 404 945
	Personnel and associated accounts (gross)	8C1	0	0%	484 959	22,3%	396 609
1 year at most		8C2	0	0%	484 959	22,3%	396 609
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	554 733	50,6%	368 421
1 year at most		8D2	0	0%	554 733	50,6%	368 421
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	2 313	2061,7%	107
1 year at most		VW2	0	0%	2 313	2061,7%	107
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	96 186	-11,6%	108 782
1 year at most		VQ2	0	0%	96 186	-11,6%	108 782
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	27 584	-92,0%	345 253
1 year at most		8J2	0	0%	27 584	-92,0%	345 253
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	1 327 057	336,8%	303 793
1 year at most		VI2	0	0%	1 327 057	336,8%	303 793
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	57 373	-74,7%	226 831
1 year at most		8K2	0	0%	57 373	-74,7%	226 831
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	0	0%	772 513	0%	0
Debt repaid during the period	VK	0	0%	191 609	62,4%	117 995

Table allocation results and other information
Dividends distributed

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

Commitments

		31/12/2012		31/12/2011		31/12/2010
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2012		31/12/2011		31/12/2010
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2012		31/12/2011		31/12/2010
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2012		31/12/2011		31/12/2010
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	92	8,2%	85	37,1%	62

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Fixed Asset Financing		1,68	-21,9%	2,15	-6,1%	2,29	1,43	17,5%
Global Debt		147 days	34,9%	109 days	55,7%	70 days	147 days	0%
Working Capital Fund overall net		60 days	-31,8%	88 days	-2,2%	90 days	94 days	-36,2%
Financial independence		175,98%	-29,4%	249,20%	-83,9%	1545,30%	388,59%	-54,7%
More ratios
Solvability		28,55%	-34,1%	43,32%	-24,1%	57,10%	41,92%	-31,9%
Capacity debt futures		%	-	358,70%	-90,4%	3736,23%	1189,05%	-
Coverage of current assets by net working capital overall		37,77%	-30,6%	54,41%	-8,9%	59,75%	52,33%	-27,8%
General Liquidity			-	0,76	-8,4%	0,83	0,57	-
Restricted Liquidity			-	0,76	-13,6%	0,88	0,86	-

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Need background in operating working capital		61 days	-43,0%	107 days	24,4%	86 days	57 days	7,0%
Treasury		-4 days	80,0%	-20 days	-766,7%	3 days	7 days	-157,1%
Inventory turnover of goods		Days	-	Days	-	Days	40,50 days	-
Average length of credit granted to customers		57 days	-14,9%	67 days	48,9%	45 days	52 days	9,6%
Average length of credit obtained suppliers		41 days	-6,8%	44 days	12,8%	39 days	56 days	-26,8%
More ratios
Inventory turnover of raw materials in industrial enterprises		98 days	-5,8%	104 days	1,0%	103 days	80 days	22,5%
Inventory turnover of intermediate and finished products in the industrial enterprise		Days	-	621 days	-2,4%	636 days	188 days	-
Rotation tangible assets		%	-	620,53%	-2,5%	636,48%	193,71%	-

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Margin trading		0%	0%	0%	0%	0	0,70%	0%
Profitability of the business		0,55	-93,1%	7,97	-20,8%	10,06	5,22%	-89,5%
Net profit		0,16%	-92,5%	2,14%	-39,0%	3,51%	2,54%	-93,7%
More ratios
Growth rate of turnover (excluding VAT)		13,19%	-41,8%	22,66%	167,5%	8,47%	4,51%	192,5%
Rates integration		23,02%	-18,3%	28,19%	-8,8%	30,90%	28,26%	-18,5%
Rate leasing furniture		0%	0%	0,10%	0%	0%	0%	0%
Work Factor		89,55%	35,5%	66,07%	6,3%	62,13%	70,48%	27,1%
Weight interests		0,75	78,6%	0,42%	162,5%	0,16%	0,33%	127,3%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Cash flow from the overall profitability		3,26%	-34,1%	4,95%	-36,5%	7,80%	4,41%	-26,1%
Rates of economic profitability		2%	-90,0%	20%	-37,5%	32%	10%	-80,0%
Financial profitability		4004915%	-22,6%	5171994%	5,8%	4889085%	369176%	984,8%
Return on investment		2,57%	-60,5%	6,50%	-45,0%	11,82%	6,63%	-61,2%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Turnover	24 619 591	13,2%	21 750 172	22,7%	17 732 743	1 344 701 €	1730,9%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	9 065 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0,82 % CA	0%

Sale of goods produced	24 619 591	13,2%	21 750 172	22,7%	17 732 741
+/- Stocked production	-13 120	-104,1%	320 144	-54,6%	704 583
+ Self-constructed assets	0	0%	0	0%	0
Period production	24 606 471 €	11,5%	22 070 316 €	19,7%	18 437 324 €	898 187 €	2639,6%
	99,95 % CA	-1,5%	101,47 % CA	-2,4%	103,97 % CA	98 % CA	2,0%

Trading margin	0	0%	0	0%	0	9 065	0%
+ Period Production	24 606 471	11,5%	22 070 316	19,7%	18 437 324	898 187	2639,6%
- Purchase of raw materials	13 007 267	13,5%	11 462 135	17,9%	9 718 208
+/- Change in stocks of raw materiels	-259 478	49,4%	-513 154	33,5%	-771 581
- Other external purchases and charges	6 190 718	24,1%	4 989 410	24,4%	4 012 082
Added value	5 667 964 €	-7,6%	6 131 925 €	11,9%	5 478 615 €	388 312 €	1359,6%
	23,02 % CA	-18,3%	28,19 % CA	-8,8%	30,90 % CA	28,26 % CA	-18,5%

Added value	5 667 964 €	-7,6%	6 131 925 €	11,9%	5 478 615 €	388 312 €	1359,6%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	456 622	31,7%	346 803	19,5%	290 275
- Personal charges	5 075 525	25,3%	4 051 211	19,0%	3 404 037
Gross operating surplus	135 817 €	-92,2%	1 733 911 €	-2,8%	1 784 303 €	67 242 €	102,0%
	0,55 % CA	-93,1%	7,97 % CA	-20,8%	10,06 % CA	5,22 % CA	-89,5%

Gross operating surplus	135 817 €	-92,2%	1 733 911 €	-2,8%	1 784 303 €	67 242 €	102,0%
+ Release of reserves and provisions	193 873	27,9%	151 624	13,4%	133 672
+ Other operating income	15 146	2117,6%	683	-66,2%	2 022
- Depreciation/Amortisation	721 303	59,2%	453 087	44,0%	314 666
- Other charges	2 988	-97,2%	106 533	206,6%	34 748
Operating result	-379 455 €	-128,6%	1 326 598 €	-15,5%	1 570 583 €	28 170 €	-1447,0%
	-1,54 % CA	-125,2%	6,10 % CA	-31,2%	8,86 % CA	3,32 % CA	-146,4%

Operating result	-379 455 €	-128,6%	1 326 598 €	-15,5%	1 570 583 €	28 170 €	-1447,0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	48 333	-15,3%	57 094	-10,0%	63 440
- Financial charges	183 548	99,4%	92 055	227,6%	28 101
Pre-tax result	-514 670 €	-139,8%	1 291 637 €	-19,6%	1 605 922 €	21 232 €	-2524,0%
	-2,09 % CA	-135,2%	5,94 % CA	-34,4%	9,06 % CA	2,86 % CA	-173,1%

Extraordinary income	1 220 043	1029,1%	108 058	532,5%	17 084	5 989	20271,4%
- Extraordinary charges	615 121	16,3%	528 752	-15,1%	622 587
Extraordinary result	604 922 €	243,8%	-420 694 €	30,5%	-605 503 €	0 €	0%
	2,46 % CA	227,5%	-1,93 % CA	43,4%	-3 % CA	0 % CA	0%

Pre-tax result	-514 670 €	-139,8%	1 291 637 €	-19,6%	1 605 922 €	21 232 €	-2524,0%
Extraordinary result	604 922 €	243,8%	-420 694 €	30,5%	-605 503 €	0 €	0%
- Employee profit sharing	0	0%	79 783	6,7%	74 757
- Tax on profits	51 025	-84,3%	325 504	7,5%	302 679
Net result	39 227 €	-91,6%	465 656 €	-25,3%	622 983 €	18 789 €	108,8%
	0,16 % CA	-92,5%	2,14 % CA	-39,0%	3,51 % CA	2,54 % CA	-93,7%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Employees

50 to 99 employees

Other establishments

Branches	2 branch entities in this company
Head office	> CENTRALE EPICES ASSAISONNEMENT CONDIME <<<  - Fabrication de condiments et assaisonnements (1084Z)  in GEMENOS  (13420)
Secondary establishments	>  CENTRALE EPICES ASSAISONNEMENT CONDIME  - Fabrication de condiments et assaisonnements (1084Z)  in GEMENOS  (13420) >  CENTRALE EPICES ASSAISONNEMENT CONDIME  - Fabrication de condiments et assaisonnements (1084Z)  in CASSIS  (13260) >  CENTRALE EPICES ASSAISONNEMENT CONDIME  - Fabrication de condiments et assaisonnements (1084Z)  in SORGUES  (84700)

Regionality

Legal unit with all establishments in same area

Mono-activity status

Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce

Workforces

Workforce at address

50 to 99 employees

Company workforce

50 to 99 employees

Preferential rights details and history

Summary of preferential rights

Company monitored since	08/10/2009
Status of Monitoring	No social security and tax office preferential right to date

Event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
18/08/2013	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1218 - 062805585 RCS. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Adresse : 25 avenue du Coulin 13420 Gémenos. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
18/06/2012	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1422 - 062805585 RCS. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Adresse : 25 avenue du Coulin Parc d'Activité de Gemenos 13420 Gémenos. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
23/05/2012	Bodacc B	Modification et mutation diverse
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 201 - 062 805 585 RCS Marseille. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Sigle : CEPASCO. Administration: Commissaire aux comptes titulaire : CONSEIL EXPERTISE COMMISSARIAT en fonction le 10 Novembre 2006 Commissaire aux comptes suppléant : EYSSAUTIER Jean Marc en fonction le 10 Novembre 2006 Président : FINANCIERE SPIGOL en fonction le 11 Mai 2012. Activité : . Commentaires : Modification de représentant.
16/05/2012	JAL	Appointment of the social representative
Marseille l Hebdo Date de décision : 25/04/2012 Société faisant l'objet d'une nomination : 062805585 - CENTRALE EPICES ASSAISONNEMENT CONDIME, CEPASCO, 25 AV COULIN, PARC ACTIVITES GEMENOS, BP 125, 13420 GEMENOS Nominé : 513026823 - FINANCIERE SPIGOL, 25 AV COULIN, PARC D'ACTIVITES DE GEMENOS, 13420 GEMENOS En la fonction de : Président
16/05/2012	JAL	Resignation / Revocation of the social representative
Marseille l Hebdo Date de décision : 25/04/2012 La société 062805585 - CENTRALE EPICES ASSAISONNEMENT CONDIME, CEPASCO, 25 AV COULIN, PARC ACTIVITES GEMENOS, BP 125, 13420 GEMENOS Fait l'objet du départ de Monsieur Serge Hincker
07/06/2010	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1431 - 062805585 RCS. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Adresse : 25 avenue du Coulin Parc d'Activité de Gemenos 13420 Gémenos. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
30/12/2009	Bodacc B	Modification et mutation diverse
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 544 - 062 805 585 RCS Marseille. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Sigle : CEPASCO. Administration : Commissaire aux comptes titulaire : CONSEIL EXPERTISE COMMISSARIAT en fonction le 10 Novembre 2006 Commissaire aux comptes suppléant : EYSSAUTIER Jean Marc en fonction le 10 Novembre 2006 Président : HINCKER Serge en fonction le 04 Juin 2007. Commentaires : Modification de représentant.
11/12/2009	JAL	Resignation / Revocation of the social representative
LES NOUVELLES PUBLICATIONS ECONOMIQUES ET JURIDIQUES Date de décision : 24/11/2009 La société 062805585 - CENTRALE EPICES ASSAISONNEMENT CONDIME, CEPASCO, 25 AV COULIN, PARC ACTIVITES GEMENOS, BP 125, 13420 GEMENOS Fait l'objet du départ de Monsieur Jacques DAL PRA
09/06/2009	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1035 - 062805585 RCS. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Adresse : 25 avenue du Coulin 13420 Gémenos. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
27/05/2009	Bodacc B	Modification et mutation diverse
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 114 - 062 805 585 RCS Marseille. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Sigle : CEPASCO. Administration : Directeur général : DAL PRA Jacques modification le 20 Juin 2006. Commissaire aux comptes titulaire : CONSEIL EXPERTISE COMMISSARIAT en fonction le 10 Novembre 2006. Commissaire aux comptes suppléant : EYSSAUTIER Jean Marc en fonction le 10 Novembre 2006. Président : HINCKER Serge en fonction le 04 Juin 2007. Commentaires : Modification de représentant.
29/05/2008	Bodacc C	Comptes annuels et rapports
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1268 - 062805585 RCS. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme : Société par actions simplifiée. Adresse : 25 avenue du Coulin 13420 Gémenos. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
28/06/2007	Bodacc B	Modifications et mutations diverses
314 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : ESPIG (Frédérique) (Nom d'usage : DEBELLE). Nomination du président : HINCKER (Serge).
23/06/2007	Bodacc C	Avis de dépôt des comptes
1151 - Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 25, avenue du Coulin,parc d'Activite de Gemenos, 13420 Gemenos. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
22/12/2006	Bodacc C	Avis de dépôt des comptes
1581 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 25, avenue du Coulin,parc d'Activite de Gemenos, 13420 Gemenos. Comptes annuels et rapports de l'exercice clos le: 30 juin 2006.
24/11/2006	Bodacc B	Modifications et mutations diverses
0154 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.S. Activité : achat, création, exploitation tant comme propriétaire que comme gérant, vente de tous fonds de commerce d'achat import-export, fabrication, trituration, assemblage, conditionnement, vente de tous produits alimentaires, condiments, assaisonnements, épices, sauces, produits exotiques, colorants, sels, conservateurs, produits pour charcutiers, pâtissiers, pâtisserie de ménage . Commentaires : modification survenue sur l'activité et l'administration. Administration: nomination d'un commissaire aux comptes titulaire : CONSEIL EXPERTISE COMMISSARIAT. Nomination d'un commissaire aux comptes suppléant : EYSSAUTIER (Jean, Marc).
20/07/2006	Bodacc C	Avis de dépôt des comptes
803 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 25, avenue du Coulin,parc d'Activite de Gemenos, 13420 Gemenos. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
19/07/2006	Bodacc B	Modifications et mutations diverses
0177 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : ESPIG (Frédérique) (Nom d'usage : DEBELLE). Modification d'un directeur général : DAL-PRA (Jacques).
19/08/2005	Bodacc C	Avis de dépôt des comptes
2101 - RCS Marseille B 062 805 585. RC 62-B 558. CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Forme: S.A.R.L.. Adresse du siège social: 25, avenue du Coulin,parc d'Activite de Gemenos, 13420 Gemenos. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
03/09/2004	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062805585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Commentaires : modification survenue sur l'administration. Administration: commissaire aux comptes suppléant partant : LOPEZ (Marius). Nomination d' un commissaire aux comptes suppléant : SAREX.
04/04/2003	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062805585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Commentaires : modification survenue sur l'administration. Administration: cogérant partant : ESPIG (Michèle, Henriette) ( Nom d'usage : CAYLUS). Nomination d'un cogérant : DAL PRA ( Jacques).
14/12/2001	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062805585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Commentaires : modification survenue sur l'administration. Administration: modification du cogérant : ESPIG ( Michèle, Henriette) ( Nom d'usage : CAYLUS).
07/09/2000	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062805585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Capital : 300 000 euros. Commentaires : modification survenue sur le capital ( augmentation).
29/08/1999	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062805585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Capital : 1 800 000 F. Commentaires : modification survenue sur le capital ( augmentation).
23/08/1998	Bodacc B	Modifications et mutations diverses
RCS Marseille B 062 805 585 RC 62-B 558 CENTRALE DES EPICES ASSAISONNEMENTS ET CONDIMENTS. Sigle : CEPASCO. Forme : S.A.R. L. Commentaires : modification survenue sur l'administration. Administration: modification du commissaire aux comptes titulaire : FIDUCIAL AUDIT.

Company events history

Date	Description
04/10/2013	New ultimate parent
04/10/2013	New parent detected
18/08/2013	Bodacc C: Deposit accounts notice
28/07/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
18/06/2012	Bodacc C : Deposit accounts notice
23/05/2012	Bodacc B: Various editing or changing
23/05/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
16/05/2012	Legal Gazette: Resignation / Revocation of the social representative
10/05/2012	New chairman (CEO, CoB)
10/05/2012	Updated articles of association
10/05/2012	Amendment
25/04/2012	Legal Gazette: Appointment of the social representative
31/12/2011	New accounts available
01/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/08/2011	Other modification of Establishment
31/12/2010	New accounts available
07/06/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
30/12/2009	Bodacc B: Various editing or changing
14/12/2009	Changes to the Board of Directors
14/12/2009	Modification du Conseil d'Administration
14/12/2009	Amendment
14/12/2009	Acte modificatif
11/12/2009	Legal Gazette: Resignation / Revocation of the social representative
08/10/2009	Collection of preferential rights activated for this company
09/06/2009	Bodacc C : Deposit accounts notice
27/05/2009	Bodacc B: Various editing or changing
18/05/2009	Appointment/resignation of company officers
18/05/2009	Amendment
18/05/2009	Acte modificatif
18/05/2009	New auditor
18/05/2009	Changement de Commissaire aux Comptes
18/05/2009	Minutes of general meeting of shareholders
18/05/2009	Private document
31/12/2008	New accounts available
29/05/2008	Bodacc C: Deposit accounts notice
31/12/2007	New accounts available
04/06/2007	Minutes of general meeting of shareholders
04/06/2007	Acte modificatif
04/06/2007	Appointment/resignation of company officers
04/06/2007	Private document
04/06/2007	New chairman (CEO, CoB)
04/06/2007	Changement de Président (PDG, PCA)
04/06/2007	Extension of term
04/06/2007	Updated articles of association
31/12/2006	New accounts available
09/11/2006	Appointment/resignation of company officers
09/11/2006	Updated articles of association
09/11/2006	PV d'Assemblée
09/11/2006	Minutes of general meeting of shareholders
09/11/2006	Modification de l'objet social
09/11/2006	Private document
09/11/2006	New closing date
18/07/2006	Minutes of general meeting of shareholders
18/07/2006	PV d'Assemblée
18/07/2006	Acte sous seing privé
18/07/2006	Statuts mis à jour
18/07/2006	Updated articles of association
18/07/2006	Private document
18/07/2006	Acte modificatif
30/06/2006	New accounts available
20/06/2006	Amendment
20/06/2006	Acte modificatif
20/06/2006	Updated articles of association
20/06/2006	Statuts mis à jour
20/06/2006	PV d'Assemblée
20/06/2006	Minutes of general meeting of shareholders
20/06/2006	Nomination/démission des organes de gestion
20/06/2006	Appointment/resignation of company officers
20/06/2006	Donation/partition
20/06/2006	Donation/Partage
20/06/2006	Office copy
20/06/2006	Expédition acte notarié
20/06/2006	Private document
20/06/2006	Acte sous seing privé
20/06/2006	New closing date
20/06/2006	Changement de date de clôture
20/06/2006	Changement de Forme Juridique sans changement de catégorie
20/06/2006	New legal form – no new category
24/05/2006	Changement de Forme Juridique avec changement de catégorie
24/05/2006	Acte sous seing privé
24/05/2006	Private document
24/05/2006	Audit or Management Report
24/05/2006	Rapport des Commissaires ou du Gérant
24/04/2006	Office copy
24/04/2006	Expédition acte notarié
24/04/2006	Statuts mis à jour
24/04/2006	Donation/partition
24/04/2006	Donation/Partage
24/04/2006	Acte sous seing privé
24/04/2006	Updated articles of association
01/01/2006	Donation/Partage
01/01/2006	Donation/partition
01/01/2006	Office copy
01/01/2006	Expédition acte notarié
31/12/2005	New accounts available
08/07/2005	Private document
08/07/2005	Acte sous seing privé
08/07/2005	Donation/partition
08/07/2005	Statuts mis à jour
08/07/2005	PV d'Assemblée
08/07/2005	Minutes of general meeting of shareholders
08/07/2005	Updated articles of association
08/07/2005	Donation/Partage
08/07/2005	Office copy
08/07/2005	Expédition acte notarié
31/12/2004	New accounts available
03/08/2004	Acte sous seing privé
03/08/2004	Private document
03/08/2004	Minutes of general meeting of shareholders
03/08/2004	New auditor
03/08/2004	PV d'Assemblée
03/08/2004	Nomination/démission des organes de gestion
03/08/2004	Appointment/resignation of company officers
03/08/2004	Changement de Commissaire aux Comptes
31/12/2003	New accounts available
24/03/2003	Statuts mis à jour
24/03/2003	Acte sous seing privé
24/03/2003	PV d'Assemblée
24/03/2003	Nomination/démission des organes de gestion
24/03/2003	Changement de Gérant
20/03/2003	Nomination/démission des organes de gestion
20/03/2003	Changement de Gérant
20/03/2003	PV d'Assemblée
16/08/2002	Statuts mis à jour
16/08/2002	PV d'Assemblée
16/08/2002	Acte sous seing privé
08/02/2002	Prorogation de durée
08/02/2002	Requête et Ordonnance
31/12/2001	Requête et Ordonnance
03/12/2001	PV d'Assemblée
03/12/2001	Acte sous seing privé
03/12/2001	Changement de Gérant
03/12/2001	Nomination/démission des organes de gestion
03/12/2001	Acte modificatif
24/08/2000	Acte sous seing privé
24/08/2000	Augmentation de Capital
24/08/2000	Conversion du Capital Social en Euros
24/08/2000	PV d'Assemblée
24/08/2000	Statuts mis à jour
06/08/1999	Acte sous seing privé
06/08/1999	PV d'Assemblée
06/08/1999	Statuts mis à jour
06/08/1999	Augmentation de Capital
04/08/1998	Acte sous seing privé
04/08/1998	PV d'Assemblée
04/08/1998	Statuts mis à jour
04/08/1998	Nomination/démission des organes de gestion
02/07/1997	Statuts mis à jour
02/07/1997	PV d'Assemblée
02/07/1997	Acte sous seing privé
17/07/1996	Acte modificatif
17/07/1996	Donation/Partage
17/07/1996	Expédition acte notarié
17/07/1996	PV d'Assemblée
17/07/1996	Statuts mis à jour
19/07/1993	PV d'Assemblée
19/07/1993	Acte modificatif
19/07/1993	Changement de Commissaire aux Comptes
12/01/1993	Acte modificatif
12/01/1993	Déclaration de conformité
12/01/1993	Statuts mis à jour
12/01/1993	Expédition acte notarié
11/01/1993	Expédition acte notarié
11/01/1993	Statuts mis à jour
11/01/1993	Cession de parts
11/01/1993	Déclaration de conformité
20/05/1992	Statuts mis à jour
20/05/1992	PV d'Assemblée
20/05/1992	Transfert du Siège dans le ressort du Tribunal de Commerce

Establishment events history

Date	Description
12/01/2013	Update of phone numbers
18/05/2012	Update of phone numbers
01/08/2011	Modification of Head office
25/07/2007	Update of phone numbers

NOTES & COMMENTS

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

	The shareholder's equity is 4,004,915 €
	The creditor days are 31.78
	The increase of tangible fixed assets over the last two accounting periods is 40 %
	The company has 1 director(s)
	The risk provisions are 0 €
	The total assets are 14,028,956 €
	The liabilities are 10,024,037 €
	The net current assets are 10,721,018 €
	The net turnover is 24,619,591 €
	The pre-tax profit is 90,253 €
	The sales to current assets ratio is 2,3
	The ratio total assets to total liabilities is 1,4
	The return on total assets employed is 0,64
	High risk workforce size
	The stock to turnover ratio is 21.97
	The increase in the gearing percentage over the last two accounting periods is 67 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.19
UK Pound	1	Rs.102.14
Euro	1	Rs.84.74

INFORMATION DETAILS

Report Prepared by :

NNA

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.