MIRA INFORM REPORT

Report Date :

13.02.2014

IDENTIFICATION DETAILS

Name :	ERIMER
Registered Office :	Zone Industrielle Du Mourillon Rue Einstein 56530 Queven
Country :	France
Financials (as on) :	31.03.2009
Date of Incorporation :	August 1996
Legal Form :	Simplified joint stock company
Line of Business :	Wholesaler (intercompany trade) of frozen products (4639A)
No of Employees :	10 to 19 employees

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 – december 01, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
France	A1	A1

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

FRANCE - ECONOMIC OVERVIEW

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

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Personal comment

company summary

Activity (APE)	Wholesale (intercompany trade) of frozen products (4639A)	EUR VAT Number	FR49408515286
Phone	02 97 05 48 48	Legal form	Simplified joint stock company
Fax		RCS Registration	RCS Lorient 9 408 515 286
Address	ERIMER ZONE INDUSTRIELLE DU MOURILLON RUE EINSTEIN 56530 QUEVEN	Share capital	4,547,855 Euros
Nationality	France	Incorporated Date	08/1996
		Status	Economically active

Trading to Date	03/31/2009	12/31/2006	12/31/2004
Turnover	42,696,379 €	40,792,182 €	35,385,321 €
Gross Operating Surplus	1,95 % Turnover	2,73 % Turnover	0,56 % Turnover
Shareholders’ equity	7,989,364 €	7,480,171 €	8,908,112 €
Net result	81,012 €	626,344 €	155,359 €
Employees	10 to 19 employees	-	-

Company details

Activity (APE)	Wholesale (intercompany trade) of frozen products (4639A)
RCS Registration	RCS Lorient 9 408 515 286	Share capital	4,547,855 Euros
Registration Court	Lorient (56)	Legal form	Simplified joint stock company
Court Registry Number	19 9 6B00364	EUR VAT Number	FR49408515286
Incorporation Date	08/1996	Formation Date	07/1996
Deregistration Date		Last account Date	31/03/2009
Nationality	France

Establishment details

Activity (APE)	Wholesale (intercompany trade) of frozen products (4639A)	Business Pages FT®	SURGELES: PRODUITS ALIMENTAIRES (FABRICATION, GROS)
Postal Address	ERIMER ZONE INDUSTRIELLE DU MOURILLON RUE EINSTEIN 56530 QUEVEN	Trading Address	RUE EINSTEIN 56530 QUEVEN
Telephone	02 97 05 48 48
Fax

Type	Head office	Status	Economically active
Formation Date	12/2010	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department		Region	Bretagne
District		Area
City	QUEVEN	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> ERIMER <<<  - Commerce de gros (commerce interentreprises) de produits surgelés (4639A)  in QUEVEN  (56530)
Secondary establishments	>  ERIMER  - Commerce de gros (commerce interentreprises) de produits surgelés (4639A)  in QUEVEN  (56530)

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

10 to 19 employees

Company workforce

10 to 19 employees

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. RUSTICHELLI PHILIPPE, SERGE
Manager position	President	Date of birth	07/01/1960
Place of birth	MARSEILLE 06 (13)
Type	Individual	Name at birth

Previous Directors

View the directors history for this company

If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-MARIE PIRANDA	06/04/1954 - LAVIRON
Managing director	M THIERRY DUPONT	16/12/1956 - BAYEUX
Managing director	M PIERRE ESNEE	29/05/1966 - BAYEUX
Managing director	M LAURENT MAURAY	- - -
Managing director	M LAURENT ROGER MAURICE MAURAY	08/05/1967 - SAINT-HILAIRE-DU-HARCOUET (50)

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	3
	Total number of Invoices paid within or up to 30 days after the due date	3
	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

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number	Click here to view the affiliation links
	FROZEN HOLDING	B136588

Group data

Ultimate parent company	FROZEN HOLDING
Direct parent	FRIAL - 85 %
Group – Number of companies	7
Linkages – Number of companies	-
Number of countries	-

Group Structure

Go directly to the current company

Display only where participation % > 33 %

Company Name	SIREN	Parts	Rating	Limit	Last account published
FROZEN HOLDING S.A.	B136588	-	NC	-	-
GLACIES HOLDING	485376479	100%	50	3 000 €	31/01/2007
DEVEL PROD AGRO ALIMENT RESTAUR	477890388	100%	NC	-	31/12/2006
SAS FRIAL	319805974	95%	20	0 €	-
ERIMER	408515286	85%	37	81 000 €	31/03/2009
SARL SAINT GUEFROID	353485428	99%	67	50 000 €	31/03/2011
COFA	342661535	100%	80	765 000 €	31/03/2012

Linkages

Ultimate parent company	FROZEN HOLDING
Direct parent	FRIAL - 85 %
Group – Number of companies	7
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/03/2009	31/12/2006	31/12/2004
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	14/05/2010	-	-
Activity Code	4639A	4639A	4639A
Employees	14	15	19

Active account

Annual Accounts	31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	410 468	-1,3%	415 798	-3,1%	429 297	111 799,50	267,1%
- Intangible assets	19 705	122,7%	8 848	-6,4%	9 451	728,50	2604,9%
- Tangible assets	81 826	-16,5%	98 013	-6,0%	104 292	35 482	130,6%
- Financial assets	308 937	0%	308 937	-2,1%	315 555	8 246,50	3646,3%
Net current assets	20 491 990	16,1%	17 651 152	7,4%	16 439 997	1 351 046	1416,7%
- Stocks	13 065 624	15,7%	11 292 021	26,3%	8 939 179	283 212	4513,4%
- Advanced payments	11 311	16,1%	7 116	-92,5%	95 280	0	0%
- Receivables	6 335 482	25,7%	5 041 752	-22,7%	6 525 866	777 995,50	714,3%
- Securities and cash	1 079 573	-17,6%	1 310 263	48,9%	879 673	111 618,50	867,2%
- Prepaid expenses	-	-	-	-	-	37	-
Accounts of regularization	0	0%	1 315	0%	0	0	0%
Total Assets	20 902 458	15,7%	18 068 265	7,1%	16 869 294	1 562 739	1237,6%

Passive Account

Annual Accounts	31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Shareholders' equity	7 989 364	6,8%	7 480 171	-16,0%	8 908 112	456 267	1651,0%
Share capital	4 547 855	0%	4 547 855	0%	4 547 855	85 883,50	5195,4%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	1 314	-99,1%	152 500	0	0%
Liabilities	12 798 823	21,0%	10 576 975	35,8%	7 786 484	1 169 263,50	994,6%
- Financial liabilities	5 969 569	-8,8%	6 547 636	150,3%	2 615 910	85 489	6882,9%
- Advanced payments received	1 292	-87,6%	10 411	114,4%	4 857	0	0%
- Trade account payables	6 405 307	92,7%	3 324 676	-30,6%	4 792 882	636 802,50	905,9%
- Tax and social liabilities	406 105	-41,0%	688 582	88,5%	365 350	120 477	237,1%
- Other debts and fixed assets liabilities	130 822	745,4%	15 475	-47,9%	29 683	11 503	1037,3%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	20 902 458	15,7%	18 068 265	7,1%	16 869 294	1 562 737,50	1237,6%

Results

Annual Accounts	31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Sales of Goods	42 793 490	4,0%	41 129 903	15,6%	35 591 911	5 725 051,50	647,5%
Net turnover	42 696 379	4,7%	40 792 182	15,3%	35 385 321	5 475 555,50	679,8%
- of which net export turnover	500 783	-30,2%	717 770	105,8%	348 739	0	0%
Operating charges	42 073 572	5,3%	39 947 363	13,1%	35 321 882	5 475 932	668,3%
Operating profit/loss	719 918	-39,1%	1 182 540	337,9%	270 028	83 849,50	758,6%
Financial income	176 456	147,3%	71 366	-19,0%	88 147	2 921	5940,9%
Financial charges	720 610	179,3%	257 961	86,1%	138 650	5 875,50	12164,7%
Financial profit/loss	-544 154	-191,6%	-186 595	-269,5%	-50 503	-876	-62018,0%
Pretax net operating income	175 764	-82,4%	995 945	353,7%	219 525	73 808,50	138,1%
Extraordinary income	549	-67,6%	1 694	0%	0	4 153	-86,8%
Extraordinary charges	4 051	-92,0%	50 746	0%	0	2 967	36,5%
Extraordinary profit/loss	-3 502	92,9%	-49 052	0%	0	0	0%
Net result	81 012	-87,1%	626 344	303,2%	155 359	56 776	42,7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/03/2009	31/12/2006	31/12/2004
Months	12	12	12

Accounts – Active

Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/03/2009		31/12/2006		31/12/2004
	Grand Total (I to VI)	Net	20 902 458	15,7%	18 068 265	7,1%	16 869 294
	Gross	CO	21 437 560	16,9%	18 345 424	6,3%	17 259 952
	Amortisation	1A	535 102	93,1%	277 159	-29,1%	390 658

Non declared distributed capital (I)

		31/03/2009		31/12/2006		31/12/2004
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

			31/03/2009		31/12/2006		31/12/2004
	Total Active fixed asset (II)	Net	410 468	-1,3%	415 798	-3,1%	429 297
	Gross	BJ	668 930	6,9%	625 914	-10,7%	700 692
	Amortisation	BK	258 462	23,0%	210 116	-22,6%	271 395

Intangilble fixed assets

			31/03/2009		31/12/2006		31/12/2004
	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	6 385	-27,8%	8 848	-6,4%	9 451
	Gross	AF	91 389	-7,2%	98 514	-27,6%	136 094
	Amortisation	AG	85 004	-5,2%	89 666	-29,2%	126 643
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	13 320	0%	0	0%	0
	Gross	AJ	13 320	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	19 705	122,7%	8 848	-6,4%	9 451

Tangilble fixed assets

			31/03/2009		31/12/2006		31/12/2004
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	0	0%	0	0%	0
	Gross	AR	6 479	0%	6 479	0%	6 479
	Amortisation	AS	6 479	0%	6 479	0%	6 479
	Other tangible fixed assets	Net	81 826	-16,5%	98 013	-6,0%	104 292
	Gross	AT	248 805	17,4%	211 985	7,7%	196 830
	Amortisation	AU	166 979	46,5%	113 972	23,2%	92 538
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	81 826		98 013		104 292

Financial assets

			31/03/2009		31/12/2006		31/12/2004
	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	301 849	0%	301 849	0%	301 849
	Gross	CU	301 849	0%	301 849	-4,8%	317 094
	Amortisation	CV	0	0%	0	0%	15 245
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	30 490
	Amortisation	BC	0	0%	0	0%	30 490
	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	7 088	0%	7 088	-48,3%	13 706
	Gross	BH	7 088	0%	7 088	-48,3%	13 706
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		308 937		308 937		315 555

Current Assets (III)

			31/03/2009		31/12/2006		31/12/2004
	Total Assets	Net	20 491 990	16,1%	17 651 152	7,4%	16 439 997
	Gross	CJ	20 768 630	17,2%	17 718 195	7,0%	16 559 260
	Amortisation	CK	276 640	312,6%	67 043	-43,8%	119 263

Stocks

			31/03/2009		31/12/2006		31/12/2004
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	13 065 624	15,7%	11 292 021	26,3%	8 939 179
	Gross	BT	13 204 665	16,9%	11 292 021	25,7%	8 982 549
	Amortisation	BU	139 041	0%	0	0%	43 370
	Sub Total Stocks	Net	13 065 624	15,7%	11 292 021	26,3%	8 939 179

Advance payments to suppliers

			31/03/2009		31/12/2006		31/12/2004
	Advance payments to suppliers	Net	11 311	59,0%	7 116	-92,5%	95 280
	Gross	BV	11 311	59,0%	7 116	-92,5%	95 280
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/03/2009		31/12/2006		31/12/2004
	Trade accounts receivable	Net	5 392 091	21,4%	4 441 142	-19,1%	5 492 851
	Gross	BX	5 529 690	22,7%	4 508 186	-19,0%	5 568 744
	Amortisation	BY	137 599	105,2%	67 044	-11,7%	75 893
	Other debtors	Net	844 379	48,9%	566 988	-40,0%	944 555
	Gross	BZ	844 379	48,9%	566 988	-40,0%	944 555
	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	6 236 470	24,5%	5 008 130	-22,2%	6 437 406

Divers

			31/03/2009		31/12/2006		31/12/2004
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	1 079 573	-17,6%	1 310 263	48,9%	879 673
	Gross	CF	1 079 573	-17,6%	1 310 263	48,9%	879 673
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	1 079 573	-17,6%	1 310 263	48,9%	879 673

Prepaid expenses

			31/03/2009		31/12/2006		31/12/2004
	Prepaid expenses	Net	99 012	194,5%	33 622	-62,0%	88 460
	Gross	CH	99 012	194,5%	33 622	-62,0%	88 460
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/03/2009		31/12/2006		31/12/2004
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	0	0%	1 315	0%	0
Gross		0	-	-	-	-

References

		31/03/2009		31/12/2006		31/12/2004
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)

		31/03/2009		31/12/2006		31/12/2004
Grand Total (I to V)	EE	20 902 458	15,7%	18 068 265	7,1%	16 869 294

Shareholder Equity (I)

			31/03/2009		31/12/2006		31/12/2004
	Total shareholders' equity (Total I)	DL	7 989 364	6,8%	7 480 171	-16,0%	8 908 112
	Equity and shareholders' equity	DA	4 547 855	0%	4 547 855	0%	4 547 855
	Issue and merger premiums	DB	1 624 951	0%	1 624 951	0%	1 624 951
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	454 785	0%	454 785	0%	454 785
	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	1 263 653	486,6%	215 430	-89,9%	2 125 162
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	81 012	-87,1%	626 344	303,2%	155 359
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	17 108	58,3%	10 805	0%	0

Other capital resources (II)

			31/03/2009		31/12/2006		31/12/2004
	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)

			31/03/2009		31/12/2006		31/12/2004
	Total provisions for risks and charges (Total III)	DR	0	0%	1 314	-99,1%	152 500
	Risk provisions	DP	0	0%	1 314	-99,1%	152 500
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/03/2009		31/12/2006		31/12/2004
	Total Liabilities (Total IV)	EC	12 798 823	21,0%	10 576 975	35,8%	7 786 484
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	80 078	-87,2%	624 916
	Sundry loans and financial liabilities	DV	5 969 569	-7,7%	6 467 558	224,8%	1 990 994
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	1 292	-87,6%	10 411	114,4%	4 857
	Trade accounts payables	DX	6 405 307	92,7%	3 324 676	-30,6%	4 792 882
	Tax and social security liabilities	DY	406 105	-41,0%	688 582	88,5%	365 350
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	16 550	191,9%	5 670	-24,2%	7 485

Translation loss (V)

		31/03/2009		31/12/2006		31/12/2004
Translation loss (Total V)	ED	114 272	1065,4%	9 805	-55,8%	22 198

Equalization accounts

		31/03/2009		31/12/2006		31/12/2004
Deferred income	EB	0	0%	0	0%	0

References

		31/03/2009		31/12/2006		31/12/2004
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	10 566 564	35,8%	7 781 627
Of which current bank facilities	EH	0	0%	80 078	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)

		31/03/2009		31/12/2006		31/12/2004
Operating result (Total I-II)	GG	719 918	-39,1%	1 182 540	337,9%	270 028

2 - Financial result (V - VI)

		31/03/2009		31/12/2006		31/12/2004
Financial result (Total V-VI)	GV	-544 154	-191,6%	-186 595	-269,5%	-50 503

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

		31/03/2009		31/12/2006		31/12/2004
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	175 764	-82,4%	995 945	353,7%	219 525

4 - Extraordinary result (VII-VIII)

		31/03/2009		31/12/2006		31/12/2004
Extraordinary result (Total VII-VIII)	HI	-3 502	92,9%	-49 052	0%	0

Profit or loss

		31/03/2009		31/12/2006		31/12/2004
Profit or loss	HN	81 012	-87,1%	626 344	303,2%	155 359

Total Income (I+III+V+VII)

		31/03/2009		31/12/2006		31/12/2004
Total Income (I+III+V+VII)	HL	42 970 495	4,3%	41 202 964	15,5%	35 680 058

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

		31/03/2009		31/12/2006		31/12/2004
Total charges (Total II+IV+VI+VIII+IX+X)	HM	42 889 482	5,7%	40 576 620	14,2%	35 524 699

Operating income (I)

		31/03/2009		31/12/2006		31/12/2004
Total operating income (Total I)	FR	42 793 490	4,0%	41 129 903	15,6%	35 591 911

Operating income (details)

			31/03/2009		31/12/2006		31/12/2004
	Sale of goods for resale	FC	42 655 023	4,8%	40 718 584	15,3%	35 310 529
	France	FA	42 154 240	5,4%	40 000 814	14,4%	34 961 790
	Export	FB	500 783	-30,2%	717 770	105,8%	348 739
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	41 356	-43,8%	73 598	-1,6%	74 792
	France	FG	41 356	-43,8%	73 598	-1,6%	74 792
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	42 696 379	4,7%	40 792 182	15,3%	35 385 321
	France	FJ	42 195 596	5,3%	40 074 413	14,4%	35 036 582
	Export	FK	500 783	-30,2%	717 770	105,8%	348 739
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	13 320	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	83 023	-74,1%	320 028	71,5%	186 614
	Other income	FQ	768	-95,7%	17 692	-11,4%	19 976

Operating charges (II)

		31/03/2009		31/12/2006		31/12/2004
Total operating charges (Total II)	GF	42 073 572	5,3%	39 947 363	13,1%	35 321 882

Exploitation charges

		31/03/2009		31/12/2006		31/12/2004
Purchase of goods for resale	FS	36 952 698	-1,5%	37 529 706	18,6%	31 634 012
Change in stocks of goods for resale	FT	-130 962	93,6%	-2 061 029	-288,9%	-529 896
Purchase of raw materials	FU	5 352	27,5%	4 198	588,2%	610
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	4 001 782	34,6%	2 973 704	-1,9%	3 031 155
Tax, duty and similar payments	FX	159 905	-12,4%	182 461	67,1%	109 197
Payroll	FY	587 721	-16,1%	700 100	13,6%	616 399
Social security costs	FZ	300 884	-14,0%	349 777	6,9%	327 293

Depreciation

		31/03/2009		31/12/2006		31/12/2004
Depreciation of fixed assets	GA	23 642	7,1%	22 077	-70,7%	75 398
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	171 210	491,4%	28 950	-10,1%	32 202
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/03/2009		31/12/2006		31/12/2004
Other charges	GE	1 340	-99,4%	217 419	752,2%	25 512

Operating charges (III-IV)

		31/03/2009		31/12/2006		31/12/2004
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)

			31/03/2009		31/12/2006		31/12/2004
	Total financial income (Total V)	GP	176 456	147,3%	71 366	-19,0%	88 147
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0	0%	62 570
	Other interest and similar income	GL	25 985	-30,3%	37 265	2294,9%	1 556
	Released provisions and transferred charges	GM	0	0%	17 195	0%	0
	Exchange gains	GN	150 471	790,0%	16 906	-29,6%	24 022
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/03/2009		31/12/2006		31/12/2004
	Total financial charge (Total VI)	GU	720 610	179,3%	257 961	86,1%	138 650
	Financial reserves and provisions	GQ	0	0%	1 314	0%	0
	Interest and similar charges	GR	485 686	100,7%	242 035	185,6%	84 756
	Exchange losses	GS	234 924	1507,7%	14 612	-72,9%	53 894
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/03/2009		31/12/2006		31/12/2004
	Total extraordinary income (Total VII)	HD	549	-67,6%	1 694	0%	0
	Extraordinary operating income	HA	0	0%	0	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	549	-67,6%	1 694	0%	0

Extraordinary charges (VIII)

			31/03/2009		31/12/2006		31/12/2004
	Total extraordinary charges (Total VIII)	HH	4 051	-92,0%	50 746	0%	0
	Extraordinary operating charges	HE	0	0%	0	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	45 999	0%	0
	Extraordinary reserves and provisions	HG	4 051	-14,7%	4 747	0%	0

Employee profit sharing (IX)

		31/03/2009		31/12/2006		31/12/2004
Employee profit sharing (Total IX)	HJ	0	0%	30 548	0%	0

Tax on profits (X)

		31/03/2009		31/12/2006		31/12/2004
Tax on profits (Total X)	HK	91 249	-68,5%	290 001	352,0%	64 166

References

		31/03/2009		31/12/2006		31/12/2004
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%	320 028	240,0%	94 127
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)

			31/03/2009		31/12/2006		31/12/2004
	Gross value at begin of period	OG	0	0%	0	0%	616 000
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	84 000
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	700 000

Research and development Charge (Total I)

			31/03/2009		31/12/2006		31/12/2004
	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)

			31/03/2009		31/12/2006		31/12/2004
	Gross value at begin of period	KD	0	0%	0	0%	128 000
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	8 000
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	136 000

Tangible fixed assets (Total III)

			31/03/2009		31/12/2006		31/12/2004
	Gross value at begin of period	LN	0	0%	0	0%	127 000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	76 000
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	0	0%	0	0%	203 000

Financial assets (Total IV)

			31/03/2009		31/12/2006		31/12/2004
	Gross value at begin of period	LQ	0	0%	0	0%	361 000
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	361 000

Reserve for depreciation

Situation and movement of reserve for depreciation

Grand total (I-II-III)

			31/03/2009		31/12/2006		31/12/2004
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	150 000
Increases		0P	0	0%	0	0%	75 000
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	225 000

Research and development charge (Total I)

			31/03/2009		31/12/2006		31/12/2004
	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)

			31/03/2009		31/12/2006		31/12/2004
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	67 000
Increases		PF	0	0%	0	0%	59 000
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	126 000

Total fixed assets amotisation (Total III)

			31/03/2009		31/12/2006		31/12/2004
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	83 000
Increases		QV	0	0%	0	0%	16 000
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	99 000

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/03/2009		31/12/2006		31/12/2004
	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

			31/03/2009		31/12/2006		31/12/2004
	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)

			31/03/2009		31/12/2006		31/12/2004
	Value at begining of period	7C	0	0%	57 000	-50,0%	114 000
Increases		UB	0	0%	29 000	-9,4%	32 000
Decreases		UC	0	0%	19 000	-26,9%	26 000
	Value at the end of period	UD	0	0%	67 000	-44,2%	120 000

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/03/2009		31/12/2006		31/12/2004
	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)

			31/03/2009		31/12/2006		31/12/2004
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/03/2009		31/12/2006		31/12/2004
	Value at begining of period	7B	0	0%	57 000	-50,0%	114 000
Increases		TY	0	0%	29 000	-9,4%	32 000
Decreases		TZ	0	0%	19 000	-26,9%	26 000
	Value at the end of period	UA	0	0%	67 000	-44,2%	120 000

State deadlines claims and debts at the end of period

State claims

		31/03/2009		31/12/2006		31/12/2004
Gross value	VT	0	0%	0	0%	7 058 000
1 year at most	VU	0	0%	0	0%	6 621 000
More than one year	VV	0	0%	0	0%	437 000

State of loans

		31/03/2009		31/12/2006		31/12/2004
Claims related to holdings (gross)	UL	0	0%	0	0%	30 000
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	0	0%	0	0%	13 000
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/03/2009		31/12/2006		31/12/2004
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	0
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%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	0

Prepaid

		31/03/2009		31/12/2006		31/12/2004
Prepaid	VS	0	0%	0	0%	88 000

State Debt

			31/03/2009		31/12/2006		31/12/2004
	Total debt (gross)	VY	0	0%	10 566 564	35,8%	7 781 627
1 year at most		VZ2	0	0%	10 566 564	35,8%	7 781 627
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

			31/03/2009		31/12/2006		31/12/2004
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	624 916
1 year at most		VG2	0	0%	0	0%	624 916
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%	80 078	0%	0
1 year at most		VH2	0	0%	80 078	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	6 467 558	224,8%	1 990 994
1 year at most		8A2	0	0%	6 467 558	224,8%	1 990 994
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	3 324 676	-30,6%	4 792 882
1 year at most		8B2	0	0%	3 324 676	-30,6%	4 792 882
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
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%	688 582	88,5%	365 350
1 year at most		8D2	0	0%	688 582	88,5%	365 350
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%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
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%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	5 670	-24,2%	7 485
1 year at most		8K2	0	0%	5 670	-24,2%	7 485
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

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004
Average number of employees	YP	14	-6,7%	15	-21,1%	19

Groups and Shareholders

		31/03/2009		31/12/2006		31/12/2004
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

		31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Fixed Asset Financing		21,25	-6,1%	22,62	32,7%	17,05	2,63	708,0%
Global Debt		108 days	16,1%	93 days	17,7%	79 days	75 days	44,0%
Working Capital Fund overall net		114 days	-4,2%	119 days	4,4%	114 days	31 days	267,7%
Financial independence		%	-	9341,11%	555,3%	1425,49%	470,94%	-
More ratios
Solvability		38,22%	-7,7%	41,40%	-21,6%	52,81%	29,82%	28,2%
Capacity debt futures		%	-	9341,11%	555,3%	1425,49%	929,28%	-
Coverage of current assets by net working capital overall		65,55%	-14,3%	76,53%	12,1%	68,29%	32,05%	104,5%
General Liquidity			-	0	0%	0,85	0,81	-
Restricted Liquidity			-	0,12	-87,5%	0,96	1,03	-

Management or rotation

		31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Need background in operating working capital		105 days	-2,8%	108 days	2,9%	105 days	18 days	483,3%
Treasury		9 days	-18,2%	11 days	22,2%	9 days	8 days	12,5%
Inventory turnover of goods		129 days	12,2%	115 days	10,6%	104 days	29 days	344,8%
Average length of credit granted to customers		47 days	17,5%	40 days	-29,8%	57 days	44 days	6,8%
Average length of credit obtained suppliers		56 days	80,6%	31 days	-39,2%	51 days	48,50 days	15,5%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	2892 days	-
Rotation tangible assets		%	-	%	-	17431,19%	3067,77%	-

Profitability of the business

		31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Margin trading		13,66%	6,1%	12,87%	8,2%	11,89	20,29%	-32,7%
Profitability of the business		1,95	-28,6%	2,73	387,5%	0,56	2,90%	-32,8%
Net profit		0,19%	-87,7%	1,54%	250,0%	0,44%	1,46%	-87,0%
More ratios
Growth rate of turnover (excluding VAT)		4,67%	-69,4%	15,28%	178,3%	-19,51%	0,85%	449,4%
Rates integration		4,41%	-23,3%	5,75%	62,9%	3,53%	11,94%	-63,1%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		47,25%	5,6%	44,76%	-40,7%	75,53%	60,79%	-22,3%
Weight interests		1,69	168,3%	0,63%	61,5%	0,39%	0,16%	956,2%

Return on capital

		31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Cash flow from the overall profitability		0,25%	-85,5%	1,72%	164,6%	0,65%	1,80%	-86,1%
Rates of economic profitability		6%	-25,0%	8%	300%	2%	20%	-70,0%
Financial profitability		7989364%	6,8%	7480171%	-16,0%	8908112%	462477%	1627,5%
Return on investment		5,74%	-8,9%	6,30%	147,1%	2,55%	14,18%	-59,5%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/03/2009		31/12/2006		31/12/2004	Sector Median 2009
Turnover	42 696 379	4,7%	40 792 182	15,3%	35 385 321	5 475 556 €	679,8%

Sales of goods	42 655 023	4,8%	40 718 584	15,3%	35 310 529
- Purchase of goods	36 952 698	-1,5%	37 529 706	18,6%	31 634 012
+/- Stock of goods variation	-130 962	93,6%	-2 061 029	-288,9%	-529 896
Trading margin	5 833 287 €	11,1%	5 249 907 €	24,8%	4 206 413 €	874 147,50 €	567,3%
	13,66 % CA	6,1%	12,87 % CA	8,2%	11,89 % CA	20,33 % CA	-32,8%

Sale of goods produced	41 356	-43,8%	73 598	-1,6%	74 792
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	13 320	0%	0	0%	0
Period production	54 676 €	-25,7%	73 598 €	-1,6%	74 792 €	11 399 €	379,7%
	0,13 % CA	-27,8%	0,18 % CA	-14,3%	0,21 % CA	0,32 % CA	-59,4%

Trading margin	5 833 287	11,1%	5 249 907	24,8%	4 206 413	874 147,50	567,3%
+ Period Production	54 676	-25,7%	73 598	-1,6%	74 792	11 399	379,7%
- Purchase of raw materials	5 352	27,5%	4 198	588,2%	610
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	4 001 782	34,6%	2 973 704	-1,9%	3 031 155
Added value	1 880 829 €	-19,8%	2 345 603 €	87,7%	1 249 440 €	543 802 €	245,9%
	4,41 % CA	-23,3%	5,75 % CA	62,9%	3,53 % CA	11,94 % CA	-63,1%

Added value	1 880 829 €	-19,8%	2 345 603 €	87,7%	1 249 440 €	543 802 €	245,9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	159 905	-12,4%	182 461	67,1%	109 197
- Personal charges	888 605	-15,4%	1 049 877	11,3%	943 692
Gross operating surplus	832 319 €	-25,2%	1 113 265 €	466,4%	196 551 €	105 665 €	687,7%
	1,95 % CA	-28,6%	2,73 % CA	387,5%	0,56 % CA	2,90 % CA	-32,8%

Gross operating surplus	832 319 €	-25,2%	1 113 265 €	466,4%	196 551 €	105 665 €	687,7%
+ Release of reserves and provisions	83 023	-74,1%	320 028	71,5%	186 614
+ Other operating income	768	-95,7%	17 692	-11,4%	19 976
- Depreciation/Amortisation	194 852	281,9%	51 027	-52,6%	107 600
- Other charges	1 340	-99,4%	217 419	752,2%	25 512
Operating result	719 918 €	-39,1%	1 182 539 €	337,9%	270 029 €	83 849 €	758,6%
	1,69 % CA	-41,7%	2,90 % CA	281,6%	0,76 % CA	2,34 % CA	-27,8%

Operating result	719 918 €	-39,1%	1 182 539 €	337,9%	270 029 €	83 849 €	758,6%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	176 456	147,3%	71 366	-19,0%	88 147
- Financial charges	720 610	179,3%	257 961	86,1%	138 650
Pre-tax result	175 764 €	-82,4%	995 944 €	353,7%	219 526 €	73 809 €	138,1%
	0,41 % CA	-83,2%	2,44 % CA	293,5%	0,62 % CA	2,04 % CA	-79,9%

Extraordinary income	549	-67,6%	1 694	0%	0	4 153	-86,8%
- Extraordinary charges	4 051	-92,0%	50 746	0%	0
Extraordinary result	-3 502 €	92,9%	-49 052 €	0%	0 €	0 €	0%
	-0,01 % CA	91,7%	-0,12 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	175 764 €	-82,4%	995 944 €	353,7%	219 526 €	73 809 €	138,1%
Extraordinary result	-3 502 €	92,9%	-49 052 €	0%	0 €	0 €	0%
- Employee profit sharing	0	0%	30 548	0%	0
- Tax on profits	91 249	-68,5%	290 001	352,0%	64 166
Net result	81 013 €	-87,1%	626 343 €	303,2%	155 360 €	56 778 €	42,7%
	0,19 % CA	-87,7%	1,54 % CA	250,0%	0,44 % CA	1,46 % CA	-87,0%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

No social security and tax office preferential right to date

Trends

Profitability

Liquidity

Net worth

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 latest account data is more than 4 years old, this has an impact on the rating. Please contact Creditsafe with your latest financial statements if you want the risk score to be recalculated
	The decrease of tangible fixed assets over the last two accounting periods is 17 %
	The stock to turnover ratio is 30.60
	The return on total assets employed is 0,82
	The ratio total assets to total liabilities is 1,63
	The sales to current assets ratio is 2,08
	The pre-tax profit is 172,261 €
	The liabilities are 12,798,823 €
	The risk provisions are 0 €
	The company has 1 director(s)
	Department code with low risk rating
	Industry code with low risk rating
	Low risk workforce size
	The total assets are 20,902,458 €
	The net turnover is 42,696,379 €
	The net current assets are 20,491,990 €
	The decrease in the gearing percentage over the last two accounting periods is 15 %
	The creditor days are 54.76
	The shareholder's equity is 7,989,364 €

Rating and Limit history

Date	Rating	Limit	International Score	Description
04/01/2014	55	180,000 €	B	Low Risk
17/10/2013	46	100,000 €	C	Moderate Risk
16/10/2013	47	105,000 €	C	Moderate Risk

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	14/05/2010
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
27/10/2013	Bodacc B	Modification et mutation diverse
56 - MORBIHAN GREFFE DU TRIBUNAL DE COMMERCE DE LORIENT 1513 - 408 515 286 RCS Lorient. ERIMER. Forme : Société par actions simplifiée. Administration : Président : RUSTICHELLI Philippe, Serge Commissaire aux comptes titulaire : CABINET KRIBS SA (SA) Commissaire aux comptes suppléant : KRIBS Roger, Marie. Activité: Commentaires : Modification survenue sur l'administration.
11/10/2013	JAL	Appointment of the social representative
Paysan Breton (Le)/Edition du Morbihan  Date de décision : 30/09/2013 Société faisant l'objet d'une nomination : 408515286 - ERIMER, RUE EINSTEIN, ZONE INDUSTRIELLE DU MOURILLON, 56530 QUEVEN Nominé : Monsieur Philippe RUSTICHELLI, 14390 CABOURG En la fonction de : Président
11/10/2013	JAL	Resignation / Revocation of the social representative
Paysan Breton (Le)/Edition du Morbihan  Date de décision : 30/09/2013 La société 408515286 - ERIMER, RUE EINSTEIN, ZONE INDUSTRIELLE DU MOURILLON, 56530 QUEVEN Fait l'objet du départ de Monsieur Jean-Marie PIRANDA, 12 Rue du Moulin-Renard, 14400, BAYEUX, De Monsieur Laurent MAURAY, 8B Rue Victor Hugo, 56100, LORIENT
06/12/2011	Bodacc B	Modification et mutation diverse
56 - MORBIHAN GREFFE DU TRIBUNAL DE COMMERCE DE LORIENT 622 - 408 515 286 RCS Lorient. ERIMER. Forme : Société par actions simplifiée. Activité: Adresse du siège social : rue Einstein, Zone Industrielle du Mourillon, 56530 Quéven. Commentaires : Transfert du siège social.
03/06/2010	Bodacc C	Comptes annuels et rapports
56 - MORBIHAN GREFFE DU TRIBUNAL DE COMMERCE DE LORIENT 5143 - 408515286 RCS. ERIMER. Forme : Société par actions simplifiée. Adresse : rue Lavoisier Zone d'Activités Commerciales du Mourillon 56530 Quéven. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2009.
17/07/2008	Bodacc B	Modification et mutation diverse
56 - MORBIHAN GREFFE DU TRIBUNAL DE COMMERCE DE LORIENT 970 - 408 515 286 RCS Lorient. ERIMER. Forme : Société par actions simplifiée. Administration : Président : PIRANDA Jean-MarieDirecteur général : MAURAY Laurent Roger Maurice. Commissaire aux comptes titulaire : CABINET KRIBS SA (SA). Commissaire aux comptes suppléant : KRIBS Roger Marie. Commentaires : Modification survenue sur l'administration.
24/06/2008	Bodacc C	Comptes annuels et rapports
56 - MORBIHAN GREFFE DU TRIBUNAL DE COMMERCE DE LORIENT 4052 - 408515286 RCS. ERIMER. Forme : Société par actions simplifiée. Adresse : rue Lavoisier Z à C du Mourillon, 56530 Quéven. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
06/10/2006	Bodacc B	Modifications et mutations diverses
1428 - RCS Lorient B 408 515 286. RC 96-B 364. ERIMER. Forme : S.A.S. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier,, 56530 Commentaires : modification survenue sur la forme juridique et l'administration. Administration : président : PIRANDA (Jean-Marie) (Nom d'usage : PIRANDA). Directeurs généraux : DUPONT (Thierry) (Nom d'usage : DUPONT) ESNEE (Pierre, Henri, Jacques) (Nom d'usage : ESNEE). Commissaire aux comptes titulaire : CABINET KRIBS S.A. Commissaire aux comptes suppléant : SCHMITT (Pierre, Marie, François) (Nom d'usage : SCHMITT). Date d'effet : 23 juin 2006.
11/06/2006	Bodacc C	Avis de dépôt des comptes
3465 - RCS Lorient B 408 515 286. RC 96-B 364. ERIMER. Forme: S.A. Adresse du siège social: rue Lavoisier,Z A C du Mourillon, 56530 Queven. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
30/01/2005	Bodacc C	Avis de dépôt des comptes
4211 - RCS Lorient B 408 515 286. RC 96-B 364. ERIMER. Forme: S.A. Adresse du siège social: rue Lavoisier,Z A C du Mourillon, 56530 Queven. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
07/09/2004	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 ERIMER. Forme : S.A. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Commentaires : modification survenue sur l' administration. Administration : président du conseil d'administration et directeur général : PIRANDA (Jean- Marie) ( Nom d'usage : PIRANDA). Administrateurs : ESNEE (Jacques) ( Nom d'usage : ESNEE) DUPONT (Thierry) ( Nom d'usage : DUPONT) ESNEE (Pierre, Henri, Jacques) ( Nom d'usage : ESNEE) PUECH (Jean-Luc) ( Nom d'usage : PUECH) . Commissaire aux comptes titulaire : CABINET KRIBS S.A. Commissaire aux comptes suppléant : GANDON (Gérard) ( Nom d'usage : GANDON). Date d'effet : 11 mars 2004.
22/06/2003	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 ERIMER. Forme : S.A. Capital : 4 547 855 euros. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration et directeur général : JEZEQUEL (Patrick) ( Nom d'usage : JEZEQUEL). Directeur général délégué et administrateur : PIRANDA (Jean-Marie) ( Nom d'usage : PIRANDA). Administrateurs : ESNEE (Jacques) ( Nom d'usage : ESNEE) DUPONT (Thierry) ( Nom d'usage : DUPONT) ESNEE (Pierre, Henri, Jacques) ( Nom d'usage : ESNEE) PUECH (Jean-Luc) ( Nom d'usage : PUECH) . Commissaire aux comptes titulaire : CABINET KRIBS S.A. Commissaire aux comptes suppléant : GANDON (Gérard) ( Nom d'usage : GANDON). Date d'effet : 29 November 2002.
04/03/2003	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 ERIMER. Forme : S.A. Capital : 4 547 855 euros. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration et directeur général : JEZEQUEL (Patrick) ( Nom d'usage : JEZEQUEL). Directeur général délégué et administrateur : PIRANDA (Jean-Marie) ( Nom d'usage : PIRANDA). Administrateurs : ESNEE (Jacques) ( Nom d'usage : ESNEE) DUPONT (Thierry) ( Nom d'usage : DUPONT) BARON (Alain) ( Nom d'usage : BARON) ESNEE (Pierre, Henri, Jacques) ( Nom d'usage : ESNEE) PUECH (Jean-Luc) ( Nom d'usage : PUECH) . Commissaire aux comptes titulaire : CABINET KRIBS S.A. Commissaire aux comptes suppléant : GANDON (Gérard) ( Nom d'usage : GANDON). Date d'effet : 21 juin 2002.
12/10/2001	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 ERIMER. Forme : S.A. Capital : 4 547 855 euros. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Commentaires : modification survenue sur le capital (augmentation et conversion en euros). Date d'effet : 22 juin 2001.
20/09/2000	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 ERIMER. Forme : S.A. Capital : 29 822 000 F. Adresse du siège social : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Commentaires : modification survenue sur la dénomination, le sigle (suppression), l'adresse du siège social, l'adresse de l'établissement principal et l' administration. Fusion-absorption de la STE ERIMER,. RCS B 330 033 655, RC 84-B 160. Administration : P.-D.G. : JEZEQUEL ( Patrick) ( Nom d'usage : JEZEQUEL). Directeur général et administrateur : PIRANDA (Jean-Marie) ( Nom d'usage : PIRANDA). Administrateurs : ESNEE ( Jacques) ( Nom d'usage : ESNEE) DUPONT (Thierry) ( Nom d'usage : DUPONT) BARON (Alain) ( Nom d'usage : BARON). Commissaire aux comptes titulaire : CABINET KRIBS S.A. Commissaire aux comptes suppléant : GANDON (Gérard) ( Nom d'usage : GANDON) Etablissement principal: Adresse : Z.A.C. du Mourillon, rue Lavoisier, 56530 Quéven. Date d'effet : 9 juin 2000.
26/04/2000	Bodacc B	Modifications et mutations diverses
RCS Lorient B 408515286 RC 96-B 364 FINANCES RECHERCHES ETUDES DEVELOPPEMENTS. Sigle : F.R.E.D. Forme : S. A. Adresse du siège social : rue Benoit- Frachon, 56100 Lorient. Commentaires : modification survenue sur l' administration. Administration : P.-D.G. : JEZEQUEL (Patrick) ( Nom d'usage : JEZEQUEL). Directeur général et administrateur : PIRANDA (Jean-Marie) ( Nom d'usage : PIRANDA). Administrateurs : ESNEE (Jacques) ( Nom d'usage : ESNEE) DUPONT (Thierry) ( Nom d'usage : DUPONT) BARON (Alain) ( Nom d'usage : BARON). Commissaire aux comptes titulaire : GUERBER (Michel) ( Nom d'usage : GUERBER). Commissaire aux comptes suppléant : GUERIZEC ( Patrick) ( Nom d'usage : GUERIZEC). Date d'effet : 16 février 2000.
25/03/1997	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Lorient B 408 515 286 RC 96-B 364 FINANCES RECHERCHES ETUDES DEVELOPPEMENTS. Sigle : F.R.E.D. Forme : S. A. Capital : 28 008 500 F (fixe). Adresse : rue Benoit-Frachon, 56100 Lorient Nouvelle situation du siège social. Capital : 29 822 000 F. Date d'effet : 20 décembre 1996.
04/09/1996	Bodacc A	Création d'établissement
RCS Lorient B 408 515 286 A dater du: 12 aout 1996 RC 96-B 364 FINANCES RECHERCHES ETUDES DEVELOPPEMENTS. Sigle : FRED. Forme : S.A. Capital : 28 008 500 F. Adresse du siège social : rue Benoit- Frachon 56100 Lorient. Administration : P. -D.G. : JEZEQUEL (Patrick). Administrateurs : HELARD (Annie) ( Nom d'usage : JEZEQUEL) et JEZEQUEL (Eric). Commissaire aux comptes titulaire : GUERBER (Michel). Commissaire aux comptes suppléant : GUERIZEC (Patrick) Cette société se constitue Etablissement principal: Adresse : rue Benoit-Frachon 56100 Lorient. Activité : achat, vente, import-export et négoce de tous produits alimentaire Date de début d'activité: 1er juillet 1996.

Company events history

Date	Description
09/01/2014	Update Rating
09/01/2014	Update Limit
27/10/2013	Update Limit
27/10/2013	Update Rating
27/10/2013	Bodacc B: Various editing or changing
17/10/2013	Update Limit
17/10/2013	Update Rating
16/10/2013	Update Rating
16/10/2013	Update Limit
15/10/2013	Amendment
15/10/2013	Changes to the Board of Directors
15/10/2013	New chairman (CEO, CoB)
11/10/2013	Legal Gazette: Resignation / Revocation of the social representative
30/09/2013	Legal Gazette: Appointment of the social representative
14/03/2013	Amendment
14/03/2013	Updated articles of association
02/02/2013	Disengagement in other companies
06/12/2011	Bodacc B: Various editing or changing
24/11/2011	Registered office transferred inside jurisdiction of the Commercial Court
24/11/2011	Amendment
24/11/2011	Updated articles of association
15/12/2010	Update of Company Head Office Identifier
15/12/2010	Transfer of Establishment
15/10/2010	New subsidiarie(s) detected
15/10/2010	New ultimate parent
15/10/2010	New parent detected
03/06/2010	Bodacc C : Deposit accounts notice
14/05/2010	Collection of preferential rights activated for this company
31/03/2009	New accounts available
06/10/2008	Acte modificatif
06/10/2008	Amendment
06/10/2008	Private document
06/10/2008	Minutes of general meeting of shareholders
17/07/2008	Bodacc B: Various editing or changing
17/07/2008	New Bodacc B ads detected
02/07/2008	Statuts mis à jour
02/07/2008	Updated articles of association
02/07/2008	Acte modificatif
02/07/2008	Changement de Commissaire aux Comptes
02/07/2008	Changement de date de clôture
02/07/2008	New closing date
02/07/2008	Private document
02/07/2008	Appointment/resignation of company officers
02/07/2008	Minutes of general meeting of shareholders
24/06/2008	Bodacc C : Deposit accounts notice
31/12/2006	New accounts available
22/09/2006	Audit or Management Report
22/09/2006	Appointment/resignation of company officers
22/09/2006	Acte modificatif
22/09/2006	New legal form – no new category
22/09/2006	Changement de Commissaire aux Comptes
22/09/2006	Updated articles of association
22/09/2006	Changement de Forme Juridique avec changement de catégorie
22/09/2006	PV d'Assemblée
22/09/2006	Minutes of general meeting of shareholders
22/09/2006	Private document
22/09/2006	Statuts mis à jour
31/12/2004	New accounts available
17/08/2004	Changement de Président (PDG, PCA)
17/08/2004	Modification du Conseil d'Administration
17/08/2004	Acte sous seing privé
17/08/2004	Private document
17/08/2004	Appointment/resignation of company officers
17/08/2004	Nomination/démission des organes de gestion
17/08/2004	Minutes of Board meeting
17/08/2004	PV du Conseil d'Administration
17/08/2004	Acte modificatif
31/12/2003	New accounts available
25/11/2003	Acte modificatif
25/11/2003	PV d'Assemblée
25/11/2003	Acte sous seing privé
03/06/2003	Nomination/démission des organes de gestion
03/06/2003	Acte modificatif
03/06/2003	PV du Conseil d'Administration
03/06/2003	Acte sous seing privé
03/06/2003	Modification du Conseil d'Administration
10/02/2003	Modification du Conseil d'Administration
10/02/2003	Statuts mis à jour
10/02/2003	Acte modificatif
10/02/2003	Acte sous seing privé
10/02/2003	PV d'Assemblée
10/02/2003	Nomination/démission des organes de gestion
10/02/2003	PV du Conseil d'Administration
25/09/2001	Acte sous seing privé
25/09/2001	PV d'Assemblée
25/09/2001	Statuts mis à jour
25/09/2001	Conversion du Capital Social en Euros
25/09/2001	Augmentation de Capital
01/09/2000	Nomination/démission des organes de gestion
01/09/2000	Déclaration de conformité
01/09/2000	Conversion du Capital Social en Euros
01/09/2000	Acte sous seing privé
01/09/2000	Acte modificatif
01/09/2000	Transfert du Siège dans le ressort du Tribunal de Commerce
01/09/2000	Changement de dénomination sociale
01/09/2000	Modification du Conseil d'Administration
01/09/2000	Changement de Commissaire aux Comptes
01/09/2000	Statuts mis à jour
01/09/2000	PV du Conseil d'Administration
01/09/2000	Augmentation de Capital
01/09/2000	PV d'Assemblée
29/05/2000	Acte modificatif
29/05/2000	Acte sous seing privé
29/05/2000	Rapport des Commissaires ou du Gérant
21/04/2000	Acte sous seing privé
21/04/2000	Acte modificatif
21/04/2000	Projet de Fusion
06/04/2000	Changement de Commissaire aux Comptes
06/04/2000	Nomination/démission des organes de gestion
06/04/2000	Requête et Ordonnance
06/04/2000	Acte modificatif
05/04/2000	Modification du Conseil d'Administration
05/04/2000	Acte sous seing privé
05/04/2000	Nomination/démission des organes de gestion
05/04/2000	Acte modificatif
05/04/2000	PV d'Assemblée
05/04/2000	PV du Conseil d'Administration
26/02/1997	Acte sous seing privé
26/02/1997	Augmentation de Capital
26/02/1997	Statuts mis à jour
26/02/1997	PV d'Assemblée
26/02/1997	Acte modificatif
10/12/1996	Acte sous seing privé
10/12/1996	Acte modificatif
10/12/1996	Rapport des Commissaires ou du Gérant
05/12/1996	Acte modificatif
05/12/1996	Acte sous seing privé
05/12/1996	Requête et Ordonnance
12/08/1996	Formation de Société
12/08/1996	Acte modificatif
12/08/1996	Acte sous seing privé
12/08/1996	Statuts
12/08/1996	PV du Conseil d'Administration
12/08/1996	Nomination/démission des organes de gestion
29/04/1996	Requête et Ordonnance

Establishment events history

Date	Description
24/10/2012	Update of phone numbers
15/12/2010	Formation of Head office (after transfer)

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 62.12
UK Pound	1	Rs. 102.25
Euro	1	Rs. 84.72

INFORMATION DETAILS

Report Prepared by :

DPT

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.