MIRA INFORM REPORT

Report Date :

28.02.2014

IDENTIFICATION DETAILS

Name :	EI TUYAUTERIE ELECTRO MECANIQUE
Registered Office :	5 Rue Des Garennes 78440 Gargenville
Country :	France
Financials (as on) :	30.09.2012
Date of Incorporation :	November 1996
Com. Reg. No.:	1996BO2672
Legal Form :	Simplified joint stock company
Line of Business :	Installation of water and gas all local jobs
No. of Employees :	50 to 99

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
France	A2	A2

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 mitigate economic inequality. France's real GDP contracted in 2009, and has recovered slowly since then. The unemployment rate increased from 7.4% in 2008 to 10.5% in 2013. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high spending on social protection 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 4.0% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. Under President SARKOZY, Paris implemented some austerity measures to begin bringing the budget deficit under the 3% euro-zone ceiling 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 looser fiscal policy, greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government’s budget for 2014 introduced a temporary 75% tax on wages over one million euros, to be paid by employers. France ratified the EU fiscal stability treaty in October 2012. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds

Source : CIA

Company name

EI TUYAUTERIE ELECTRO MECANIQUE

company summary

		EUR VAT Number	FR89409879863
Activity (APE)	Installation of water and gas all local jobs	Legal form	Simplified joint stock company
Phone	01 48 92 08 35	RCS Registration	RCS Versailles 9 409 879 863
Fax	01 34 97 12 36	Share capital	300,000 Euros
Address	EI TUYAUTERIE ELECTRO MECANIQUE ZI 5 RUE DES GARENNES 78440 GARGENVILLE	Incorporated Date	11/1996
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data

Total number of Invoices available

Total number of Invoices paid within or up to 30 days after the due date

Total number of Invoices paid more than 30 days after the due date

Total number of Invoices currently outstanding where the due date has not yet been reached

Total number of Invoices currently outstanding beyond the due date

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number
SODECAD	492958715

Current Directors

1

Trading to Date	09/30/2012	09/30/2011	09/30/2010
Turnover	22,297,183 €	24,626,345 €	18,610,159 €
Gross Operating Surplus	-0,43 % Turnover	7,51 % Turnover	9,18 % Turnover
Shareholders’ equity	749,893 €	1,594,713 €	1,704,987 €
Net result	-234,821 €	659,726 €	1,015,549 €
Employees	50 to 99 employees	-	-

Trends

Profitability

Liquidity

Net worth

company details

Company details

Activity (APE)	Installation of water and gas all local jobs
RCS Registration	RCS Versailles 9 409 879 863	Share capital	300,000 Euros
Registration Court	Versailles (78)	Legal form	Simplified joint stock company
Court Registry Number	19 9 6B02672	EUR VAT Number	FR89409879863
Incorporation Date	11/1996	Formation Date	11/1996
Deregistration Date		Last account Date	30/09/2012
Nationality	France

Ultimate Parent

1 ultimate parent company for this company >  SODECAD  - Activités des sociétés holding (6420Z)  in PARIS 17  (75017)

Establishment details

Activity (APE)	Installation of water and gas all local jobs	Business Pages FT®	TUYAUTERIE INDUSTRIELLE
Postal Address	EI TUYAUTERIE ELECTRO MECANIQUE ZI 5 RUE DES GARENNES 78440 GARGENVILLE	Trading Address	5 RUE DES GARENNES 78440 GARGENVILLE
Telephone	01 48 92 08 35
Fax	01 34 97 12 36

Type	Head office	Status	Economically active
Formation Date	09/1998	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	On building site
Location surface		Seasonality

Department	Yvelines (78)	Region	Ile-de-France
District	1	Area	10
City	GARGENVILLE	Size of urban area	Paris conglomeration

Other establishments

Branches	2 branch entities in this company
Head office	> EI TUYAUTERIE ELECTRO MECANIQUE <<<  - Installation of water and gas all local jobs (78440)
Secondary establishments	Installation of water and gas all local jobs

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

Workforces

Workforce at address

50 to 99 employees

Company workforce

50 to 99 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	30/09/2012	30/09/2011	30/09/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	26/04/2013	14/12/2012	27/07/2011
Activity Code	4322A	4322A	4322A
Employees	110	110	93

Active account

Annual Accounts	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	489 997	6,5%	460 097	26,4%	363 893	15 870	2987,6%
- Intangible assets	0	0%	0	0%	0	0	0%
- Tangible assets	269 117	5,4%	255 259	27,1%	200 841	8 597	3030,4%
- Financial assets	220 880	7,8%	204 838	25,6%	163 052	152	145215,8%
Net current assets	13 096 209	-20,3%	16 430 241	8,2%	15 190 509	83 711	15544,5%
- Stocks	0	0%	0	0%	0	6 662	0%
- Advanced payments	0	-20,3%	0	0%	0	0	0%
- Receivables	10 428 865	-3,9%	10 847 576	16,5%	9 310 414	36 689	28325,0%
- Securities and cash	2 667 344	-52,2%	5 582 665	-5,1%	5 880 095	21 935	12060,2%
- Prepaid expenses	-	-	-	-	-	645	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	13 586 206	-19,6%	16 890 338	8,6%	15 554 402	109 307	12329,4%

Passive Account

Annual Accounts	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Shareholders' equity	749 893	-53,0%	1 594 713	-6,5%	1 704 987	38 581	1843,7%
Share capital	300 000	0%	300 000	0%	300 000	7 622	3836,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1 023 175	-27,6%	1 413 301	58,9%	889 451	0	0%
Liabilities	11 813 139	-14,9%	13 882 323	7,1%	12 959 964	61 073	19242,7%
- Financial liabilities	79 927	0%	0	0%	0	10 532	658,9%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	4 055 209	-44,0%	7 236 879	47,6%	4 902 960	15 528	26015,5%
- Tax and social liabilities	1 480 827	-32,4%	2 189 268	34,2%	1 630 949	27 097	5364,9%
- Other debts and fixed assets liabilities	5 094 872	106,1%	2 472 349	-36,7%	3 907 250	5 058	100629,0%
Account regularization	1 102 304	-44,4%	1 983 827	-21,2%	2 518 805	0	0%
Total liabilities	13 586 206	-19,6%	16 890 338	8,6%	15 554 402	109 025	12361,6%

Results

Annual Accounts	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Sales of Goods	23 823 416	-6,2%	25 397 084	31,2%	19 352 410	222 504	10607,0%
Net turnover	22 297 183	-9,5%	24 626 345	32,3%	18 610 159	219 475	10059,3%
- of which net export turnover	824 730	106,6%	399 132	0%	0	0	0%
Operating charges	24 095 823	1,1%	23 825 872	35,2%	17 622 778	211 314	11302,9%
Operating profit/loss	-272 407	-117,3%	1 571 212	-9,2%	1 729 632	9 076	-3101,4%
Financial income	57 623	51,2%	38 098	46,3%	26 040	01	5762200%
Financial charges	21 395	45,0%	14 751	-28,2%	20 557	396	5302,8%
Financial profit/loss	36 228	55,2%	23 347	325,8%	5 483	-220	16567,3%
Pretax net operating income	-236 179	-114,8%	1 594 559	-8,1%	1 735 115	8 425	-2903,3%
Extraordinary income	3 750	0%	0	0%	0	0	0%
Extraordinary charges	2 392	466,8%	422	-91,5%	4 945	192	1145,8%
Extraordinary profit/loss	1 358	421,8%	-422	91,5%	-4 945	-17	8088,2%
Net result	-234 821	-135,6%	659 726	-35,0%	1 015 549	7 862	-3086,8%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	30/09/2012	30/09/2011	30/09/2010
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		30/09/2012		30/09/2011		30/09/2010
Grand Total (I to VI)	Net	13 586 206	-19,6%	16 890 338	8,6%	15 554 402
Gross	CO	15 043 387	-13,7%	17 439 649	8,6%	16 055 890
Amortisation	1A	1 457 181	165,3%	549 311	9,5%	501 488

Non declared distributed capital (I)

		30/09/2012		30/09/2011		30/09/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		30/09/2012		30/09/2011		30/09/2010
Total Active fixed asset (II)	Net	489 997	6,5%	460 097	26,4%	363 893
Gross	BJ	1 085 293	7,5%	1 009 408	16,6%	865 381
Amortisation	BK	595 296	8,4%	549 311	9,5%	501 488

Intangilble fixed assets

			30/09/2012		30/09/2011		30/09/2010
	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	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	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	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	0	0%	0	0%	0

Tangilble fixed assets

		30/09/2012		30/09/2011		30/09/2010
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	213 699	28,0%	166 959	26,7%	131 754
Gross	AR	582 648	14,2%	510 217	12,9%	451 790
Amortisation	AS	368 949	7,5%	343 258	7,3%	320 036
Other tangible fixed assets	Net	55 418	-37,2%	88 300	27,8%	69 087
Gross	AT	281 765	-4,3%	294 353	17,5%	250 539
Amortisation	AU	226 347	9,8%	206 053	13,6%	181 452
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	269 117		255 259		200 841

Financial assets

		30/09/2012		30/09/2011		30/09/2010
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	0	0%	0	0%	0
Gross	CU	0	0%	0	0%	0
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	137 916	11,5%	123 658	12,5%	109 963
Gross	BF	137 916	0%	123 658	0%	109 963
Amortisation	BG	0		0		0
Other financial assets	Net	82 964	2,2%	81 180	52,9%	53 089
Gross	BH	82 964	2,2%	81 180	52,9%	53 089
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		220 880		204 838		163 052

Current Assets (III)

		30/09/2012		30/09/2011		30/09/2010
Total Assets	Net	13 096 209	-20,3%	16 430 241	8,2%	15 190 509
Gross	CJ	13 958 094	-15,0%	16 430 241	8,2%	15 190 509
Amortisation	CK	861 885	0%	0	0%	0

Stocks

		30/09/2012		30/09/2011		30/09/2010
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	0	0%	0	0%	0
Gross	BT	0	0%	0	0%	0
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	0	0%	0	0%	0

Advance payments to suppliers

		30/09/2012		30/09/2011		30/09/2010
Advance payments to suppliers	Net	0	0%	0	0%	0
Gross	BV	0	0%	0	0%	0
Amortisation	BW	0	0%	0	0%	0

Debtors

		30/09/2012		30/09/2011		30/09/2010
Trade accounts receivable	Net	6 531 989	10,5%	5 908 919	15,1%	5 135 366
Gross	BX	7 393 874	25,1%	5 908 919	15,1%	5 135 366
Amortisation	BY	861 885	0%	0	0%	0
Other debtors	Net	3 896 876	-20,8%	4 917 746	18,3%	4 155 323
Gross	BZ	3 896 876	-20,8%	4 917 746	18,3%	4 155 323
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	10 428 865	-3,7%	10 826 665	16,5%	9 290 689

Divers

		30/09/2012		30/09/2011		30/09/2010
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	2 667 344	-52,2%	5 582 665	-5,1%	5 880 095
Gross	CF	2 667 344	-52,2%	5 582 665	-5,1%	5 880 095
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	2 667 344	-52,2%	5 582 665	-5,1%	5 880 095

Prepaid expenses

		30/09/2012		30/09/2011		30/09/2010
Prepaid expenses	Net	0	0%	20 911	6,0%	19 725
Gross	CH	0	0%	20 911	6,0%	19 725
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
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)

		30/09/2012		30/09/2011		30/09/2010
Grand Total (I to V)	EE	13 586 206	-19,6%	16 890 338	8,6%	15 554 402

Shareholder Equity (I)

		30/09/2012		30/09/2011		30/09/2010
Total shareholders' equity (Total I)	DL	749 893	-53,0%	1 594 713	-6,5%	1 704 987
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	612	0%	612	0%	612
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	654 102	8,2%	604 375	68,4%	358 826
Profit or loss for the period	DI	-234 821	-135,6%	659 726	-35,0%	1 015 549
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		30/09/2012		30/09/2011		30/09/2010
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)

		30/09/2012		30/09/2011		30/09/2010
Total provisions for risks and charges (Total III)	DR	1 023 175	-27,6%	1 413 301	58,9%	889 451
Risk provisions	DP	77 291	-5,5%	81 791	40,2%	58 339
Reserves for charges	DQ	945 884	-29,0%	1 331 510	60,2%	831 112

Liabilities (IV)

		30/09/2012		30/09/2011		30/09/2010
Total Liabilities (Total IV)	EC	11 813 139	-14,9%	13 882 323	7,1%	12 959 964
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	79 927	0%	0	0%	0
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
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	4 055 209	-44,0%	7 236 879	47,6%	4 902 960
Tax and social security liabilities	DY	1 480 827	-32,4%	2 189 268	34,2%	1 630 949
Fixed asset liabilities	DZ	3 767	0%	0	0%	3 319
Other debts	EA	5 091 105	105,9%	2 472 349	-36,7%	3 903 931

Translation loss (V)

		30/09/2012		30/09/2011		30/09/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		30/09/2012		30/09/2011		30/09/2010
Deferred income	EB	1 102 304	-44,4%	1 983 827	-21,2%	2 518 805

References

		30/09/2012		30/09/2011		30/09/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		30/09/2012		30/09/2011		30/09/2010
Operating result (Total I-II)	GG	-272 407	-117,3%	1 571 212	-9,2%	1 729 632

2 - Financial result (V - VI)

		30/09/2012		30/09/2011		30/09/2010
Financial result (Total V-VI)	GV	36 228	55,2%	23 347	325,8%	5 483

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

		30/09/2012		30/09/2011		30/09/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-236 179	-114,8%	1 594 559	-8,1%	1 735 115

4 - Extraordinary result (VII-VIII)

		30/09/2012		30/09/2011		30/09/2010
Extraordinary result (Total VII-VIII)	HI	1 358	421,8%	-422	91,5%	-4 945

Profit or loss

		30/09/2012		30/09/2011		30/09/2010
Profit or loss	HN	-234 821	-135,6%	659 726	-35,0%	1 015 549

Total Income (I+III+V+VII)

		30/09/2012		30/09/2011		30/09/2010
Total Income (I+III+V+VII)	HL	23 884 789	-6,1%	25 435 182	31,3%	19 378 450

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

		30/09/2012		30/09/2011		30/09/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	24 119 610	-2,6%	24 775 457	34,9%	18 362 902

Operating income (I)

		30/09/2012		30/09/2011		30/09/2010
Total operating income (Total I)	FR	23 823 416	-6,2%	25 397 084	31,2%	19 352 410

Operating income (details)

		30/09/2012		30/09/2011		30/09/2010
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	0	0%	0	0%	0
France	FD	0	0%	0	0%	0
Export	FE	0	0%	0	0%	0
Sale of services	FI	22 297 183	-9,5%	24 626 345	32,3%	18 610 159
France	FG	21 472 453	-11,4%	24 227 213	30,2%	18 610 159
Export	FH	824 730	106,6%	399 132	0%	0
Net turnover	FL	22 297 183	-9,5%	24 626 345	32,3%	18 610 159
France	FJ	21 472 453	-11,4%	24 227 213	30,2%	18 610 159
Export	FK	824 730	106,6%	399 132	0%	0
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	2 500	0%	0	0%	0
Release of reserves and provisions	FP	1 523 732	97,7%	770 737	3,8%	742 168
Other income	FQ	01	-50,0%	02	-97,6%	83

Operating charges (II)

		30/09/2012		30/09/2011		30/09/2010
Total operating charges (Total II)	GF	24 095 823	1,1%	23 825 872	35,2%	17 622 778

Exploitation charges

		30/09/2012		30/09/2011		30/09/2010
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	159 736	7,6%	148 400	35,6%	109 420
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	15 150 160	-4,2%	15 807 213	47,0%	10 756 583
Tax, duty and similar payments	FX	384 860	16,3%	331 038	-16,5%	396 245
Payroll	FY	5 075 390	1,8%	4 984 166	18,8%	4 194 895
Social security costs	FZ	1 625 274	8,0%	1 505 191	4,2%	1 443 901

Depreciation

		30/09/2012		30/09/2011		30/09/2010
Depreciation of fixed assets	GA	83 505	19,7%	69 779	3,2%	67 624
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	861 885	0%	0	0%	0
Provisions for risks and charges	GD	754 851	-23,0%	980 085	49,8%	654 068

Other charges

		30/09/2012		30/09/2011		30/09/2010
Other charges	GE	162	0%	0	0%	42

Operating charges (III-IV)

		30/09/2012		30/09/2011		30/09/2010
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)

		30/09/2012		30/09/2011		30/09/2010
Total financial income (Total V)	GP	57 623	51,2%	38 098	46,3%	26 040
Share financial income	GJ	15 768	444,3%	2 897	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	41 855	18,9%	35 201	37,6%	25 587
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	0	0%	0	0%	0
Net income from disposal of investment securities	GO	0	0%	0	0%	453

Financial Charge (VI)

		30/09/2012		30/09/2011		30/09/2010
Total financial charge (Total VI)	GU	21 395	45,0%	14 751	-28,2%	20 557
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	21 395	45,0%	14 751	-28,2%	20 557
Exchange losses	GS	0	0%	0	0%	0
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		30/09/2012		30/09/2011		30/09/2010
Total extraordinary income (Total VII)	HD	3 750	0%	0	0%	0
Extraordinary operating income	HA	3 750	0%	0	0%	0
Extraordinary income from capital transactions	HB	0	0%	0	0%	0
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		30/09/2012		30/09/2011		30/09/2010
Total extraordinary charges (Total VIII)	HH	2 392	466,8%	422	-91,5%	4 945
Extraordinary operating charges	HE	0	0%	0	0%	0
Extraordinary charges from capital transactions	HF	0	0%	0	0%	2 256
Extraordinary reserves and provisions	HG	2 392	466,8%	422	-84,3%	2 689

Employee profit sharing (IX)

		30/09/2012		30/09/2011		30/09/2010
Employee profit sharing (Total IX)	HJ	0	0%	273 734	44,1%	189 975

Tax on profits (X)

		30/09/2012		30/09/2011		30/09/2010
Tax on profits (Total X)	HK	0	0%	660 678	25,9%	524 647

References

		30/09/2012		30/09/2011		30/09/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		30/09/2012		30/09/2011		30/09/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	41 361	18,9%	34 773	-35,5%	53 925
Gross value at the end of period	OL	1 085 294	7,5%	1 009 408	16,6%	865 381

Research and development Charge (Total I)

		30/09/2012		30/09/2011		30/09/2010
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)

		30/09/2012		30/09/2011		30/09/2010
Gross value at begin of period	KD	0	0%	0	0%	0
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
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%	0

Tangible fixed assets (Total III)

		30/09/2012		30/09/2011		30/09/2010
Gross value at begin of period	LN	804 570	14,6%	702 330	2,0%	688 311
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	99 755	-20,0%	124 619	98,3%	62 844
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	39 912	78,4%	22 378	-54,2%	48 825
Gross value at the end of period	NH	864 413	7,4%	804 571	14,6%	702 330

Fiancial assets (Total IV)

		30/09/2012		30/09/2011		30/09/2010
Gross value at begin of period	LQ	204 838	25,6%	163 051	18,4%	137 765
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	17 491	-67,7%	54 181	78,3%	30 386
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	1 449	-88,3%	12 395	143,0%	5 100
Gross value at the end of period	NK	220 880	7,8%	204 837	25,6%	163 051

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

			30/09/2012		30/09/2011		30/09/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			30/09/2012		30/09/2011		30/09/2010
	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)

			30/09/2012		30/09/2011		30/09/2010
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			30/09/2012		30/09/2011		30/09/2010
	Reserve for depreciation value at begin of period	QU	549 311	9,5%	501 490	5,0%	477 746
Increases		QV	85 897	22,4%	70 201	-0,2%	70 313
Decreases		QW	39 912	78,4%	22 378	-51,9%	46 569
	Decreasess by budget item transfer	QX	595 296	8,4%	549 313	9,5%	501 490

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			30/09/2012		30/09/2011		30/09/2010
	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
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			30/09/2012		30/09/2011		30/09/2010
	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)

			30/09/2012		30/09/2011		30/09/2010
	Value at begining of period	7C	1 413 301	58,9%	889 451	42,1%	625 798
Increases		UB	1 616 736	65,0%	980 084	48,7%	659 236
Decreases		UC	1 144 978	151,0%	456 235	15,3%	395 582
	Value at the end of period	UD	1 885 059	33,4%	1 413 300	58,9%	889 452

Includes Total allocations

Operating	UE	1 616 736	65,0%	980 084	48,7%	659 236
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	1 144 978	151,0%	456 235	15,3%	395 582
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			30/09/2012		30/09/2011		30/09/2010
	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)

			30/09/2012		30/09/2011		30/09/2010
	Value at begining of period	5Z	1 413 302	58,9%	889 451	42,1%	625 799
Increases		TV	754 851	-23,0%	980 084	48,7%	659 236
Decreases		TW	1 144 978	151,0%	456 235	15,3%	395 582
	Value at the end of period	TX	1 023 175	-27,6%	1 413 300	58,9%	889 453

Total Provision for depreciation (Total III)

			30/09/2012		30/09/2011		30/09/2010
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	861 885	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	861 885	0%	0	0%	0

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

		30/09/2012		30/09/2011		30/09/2010
Gross value	VT	11 511 630	4,2%	11 052 414	16,7%	9 473 466
1 year at most	VU	11 307 992	2,8%	11 000 725	17,8%	9 335 357
More than one year	VV	203 638	294,0%	51 689	-62,6%	138 109

State of loans

		30/09/2012		30/09/2011		30/09/2010
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	137 916	11,5%	123 658	12,5%	109 963
Loans (1 year at most)	UR	15 258	-87,7%	123 658	887,0%	12 529
Other financial assets (gross)	UT	82 964	2,2%	81 180	52,9%	53 089
Other financial assets (1 year at most)	UV	1 984	-93,3%	29 491	137,6%	12 414

Receivables statement of assets

		30/09/2012		30/09/2011		30/09/2010
Customers doubtful or disputed	VA	861 885	0%	0	0%	0
Other claims customer	UX	6 531 989	10,5%	5 908 919	15,1%	5 135 366
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	15 903	126,1%	7 034	4,0%	6 763
Social Security and other social organizations	UZ	252	0%	0	0%	0
Income taxes	VM	661 576	0%	0	0%	0
Value added tax	VB	1 224 083	-5,9%	1 300 553	78,4%	729 062
Other taxes and payments assimilated	VN	0	0%	0	0%	1 516
State and other public - Miscellaneous	VP	0	0%	2 242	0%	0
Group and Associates	VC	1 960 311	-45,2%	3 579 867	5,6%	3 388 653
Accounts receivable (including claims relating to the operation of pension titles)	VR	34 751	23,9%	28 050	-4,4%	29 329

Prepaid

		30/09/2012		30/09/2011		30/09/2010
Prepaid	VS	0	0%	20 911	6,0%	19 725

State Debt

			30/09/2012		30/09/2011		30/09/2010
	Total debt (gross)	VY	11 813 139	-14,9%	13 882 323	7,1%	12 959 964
1 year at most		VZ2	11 813 139	-14,9%	13 882 323	7,1%	12 959 964
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

			30/09/2012		30/09/2011		30/09/2010
	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	79 927	0%	0	0%	0
1 year at most		VG2	79 927	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	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	4 055 209	-44,0%	7 236 879	47,6%	4 902 960
1 year at most		8B2	4 055 209	-44,0%	7 236 879	47,6%	4 902 960
More than 1 year and 5 years at most		8B3	4 055 209	-44,0%	7 236 879	47,6%	4 902 960
	Personnel and associated accounts (gross)	8C1	548 087	-37,7%	880 056	22,2%	720 080
1 year at most		8C2	548 087	-37,7%	880 056	22,2%	720 080
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	379 892	-3,6%	394 271	-5,4%	416 670
1 year at most		8D2	379 892	-3,6%	394 271	-5,4%	416 670
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	136 031	38,7%	98 043
1 year at most		8E2	0	0%	136 031	38,7%	98 043
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	484 388	-33,1%	724 093	135,8%	307 026
1 year at most		VW2	484 388	-33,1%	724 093	135,8%	307 026
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	68 459	24,9%	54 816	-38,5%	89 130
1 year at most		VQ2	68 459	24,9%	54 816	-38,5%	89 130
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	3 767	0%	0	0%	3 319
1 year at most		8J2	3 767	0%	0	0%	3 319
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	1 572 276	18,0%	1 332 004	66,9%	797 985
1 year at most		VI2	1 572 276	18,0%	1 332 004	66,9%	797 985
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	3 518 828	208,6%	1 140 346	-63,3%	3 105 946
1 year at most		8K2	3 518 828	208,6%	1 140 346	-63,3%	3 105 946
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	1 102 304	-44,4%	1 983 827	-21,2%	2 518 805
1 year at most		8L2	1 102 304	-44,4%	1 983 827	-21,2%	2 518 805
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
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

		30/09/2012		30/09/2011		30/09/2010
Average number of employees	YP	110	0%	110	18,3%	93

Groups and Shareholders

		30/09/2012		30/09/2011		30/09/2010
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

	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Fixed Asset Financing	2,26	-35,8%	3,52	-1,7%	3,58	1,98	14,1%
Global Debt	191 days	-5,9%	203 days	-19,1%	251 days	97 days	96,9%
Working Capital Fund overall net	22 days	-40,5%	37 days	-14,0%	43 days	55 days	-60,0%
Financial independence	938,22%	-	%	-	%	307,20%	205,4%
More ratios
Solvability	5,52%	-41,5%	9,44%	-13,9%	10,96%	38,33%	-85,6%
Capacity debt futures	938,22%	-	%	-	%	1452,28%	-35,4%
Coverage of current assets by net working capital overall	9,76%	-37,2%	15,53%	5,6%	14,70%	42,97%	-77,3%
General Liquidity	0,96	21,5%	0,79	9,7%	0,72	0,72	33,3%
Restricted Liquidity	1,18	-0,8%	1,19	1,7%	1,17	1,29	-8,5%

Management or rotation

	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Need background in operating working capital	-3 days	81,2%	-16 days	27,3%	-22 days	8 days	-137,5%
Treasury	43 days	-47,6%	82 days	-28,1%	114 days	1 days	4200%
Inventory turnover of goods	days	-	days	-	days	0 days	-
Average length of credit granted to customers	119 days	38,4%	86 days	-13,1%	99 days	45 days	164,4%
Average length of credit obtained suppliers	95 days	-41,7%	163 days	0,6%	162 days	43 days	120,9%
More ratios
Inventory turnover of raw materials in industrial enterprises	0 days	0%	0 days	0%	0 days	20 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	days	-	days	739 days	-
Rotation tangible assets	2579,46%	-15,7%	3060,80%	15,5%	2649,77%	825,80%	212,4%

Profitability of the business

	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Margin trading	0%	0%	0%	0%	0	0%	0%
Profitability of the business	-0,43	-105,7%	7,51	-18,2%	9,18	5,64%	-107,6%
Net profit	-1,05%	-139,2%	2,68%	-50,9%	5,46%	3,22%	-132,6%
More ratios
Growth rate of turnover (excluding VAT)	-9,46%	-129,3%	32,33%	313,1%	-15,17%	1,19%	-895,0%
Rates integration	31,34%	-11,0%	35,21%	-15,4%	41,61%	42,06%	-25,5%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	95,90%	28,1%	74,84%	2,8%	72,81%	82,29%	16,5%
Weight interests	0,10	66,7%	0,06%	-45,5%	0,11%	0,17%	-41,2%

Return on capital

	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Cash flow from the overall profitability	-5,80%	-622,5%	1,11%	-70,2%	3,72%	5,14%	-212,8%
Rates of economic profitability	-12%	-110,3%	116%	16,0%	100%	23,11%	-151,9%
Financial profitability	749893%	-53,0%	1594713%	-6,5%	1704987%	5010%	14867,9%
Return on investment	-25,72%	-160,8%	42,29%	-30,4%	60,77%	14,79%	-273,9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	30/09/2012		30/09/2011		30/09/2010	Sector Median 2012
Turnover	22 297 183	-9,5%	24 626 345	32,3%	18 610 159	219 475 €	10059,3%

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 €	0 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0 % CA	0%

Sale of goods produced	22 297 183	-9,5%	24 626 345	32,3%	18 610 159
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	22 297 183 €	-9,5%	24 626 345 €	32,3%	18 610 159 €	207 314 €	10655,3%
	100,00 % CA	0%	100,00 % CA	0%	100,00 % CA	100 % CA	0%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	22 297 183	-9,5%	24 626 345	32,3%	18 610 159	207 314	10655,3%
- Purchase of raw materials	159 736	7,6%	148 400	35,6%	109 420
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	15 150 160	-4,2%	15 807 213	47,0%	10 756 583
Added value	6 987 287 €	-19,4%	8 670 732 €	12,0%	7 744 156 €	93 913 €	7340,2%
	31,34 % CA	-11,0%	35,21 % CA	-15,4%	41,61 % CA	42,06 % CA	-25,5%

Added value	6 987 287 €	-19,4%	8 670 732 €	12,0%	7 744 156 €	93 913 €	7340,2%
+ Operating grants	2 500	0%	0	0%	0
- Tax, duty and similar payments	384 860	16,3%	331 038	-16,5%	396 245
- Personal charges	6 700 664	3,3%	6 489 357	15,1%	5 638 796
Gross operating surplus	-95 737 €	-105,2%	1 850 337 €	8,3%	1 709 115 €	12 978 €	-837,7%
	-0,43 % CA	-105,7%	7,51 % CA	-18,2%	9,18 % CA	5,65 % CA	-107,6%

Gross operating surplus	-95 737 €	-105,2%	1 850 337 €	8,3%	1 709 115 €	12 978 €	-837,7%
+ Release of reserves and provisions	1 523 732	97,7%	770 737	3,8%	742 168
+ Other operating income	01	-50,0%	02	-97,6%	83
- Depreciation/Amortisation	1 700 241	61,9%	1 049 864	45,5%	721 692
- Other charges	162	0%	0	0%	42
Operating result	-272 407 €	-117,3%	1 571 212 €	-9,2%	1 729 632 €	9 085 €	-3098,4%
	-1,22 % CA	-119,1%	6,38 % CA	-31,3%	9,29 % CA	3,84 % CA	-131,8%

Operating result	-272 407 €	-117,3%	1 571 212 €	-9,2%	1 729 632 €	9 085 €	-3098,4%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	57 623	51,2%	38 098	46,3%	26 040
- Financial charges	21 395	45,0%	14 751	-28,2%	20 557
Pre-tax result	-236 179 €	-114,8%	1 594 559 €	-8,1%	1 735 115 €	8 425 €	-2903,3%
	-1,06 % CA	-116,4%	6,48 % CA	-30,5%	9,32 % CA	3,59 % CA	-129,5%

Extraordinary income	3 750	0%	0	0%	0	0	0%
- Extraordinary charges	2 392	466,8%	422	-91,5%	4 945
Extraordinary result	1 358 €	421,8%	-422 €	91,5%	-4 945 €	-17 €	8088,2%
	0,01 % CA	0%	0,00 % CA	0%	0 % CA	-00,03 % CA	133,3%

Pre-tax result	-236 179 €	-114,8%	1 594 559 €	-8,1%	1 735 115 €	8 425 €	-2903,3%
Extraordinary result	1 358 €	421,8%	-422 €	91,5%	-4 945 €	-17 €	8088,2%
- Employee profit sharing	0	0%	273 734	44,1%	189 975
- Tax on profits	0	0%	660 678	25,9%	524 647
Net result	-234 821 €	-135,6%	659 725 €	-35,0%	1 015 548 €	7 852 €	-3090,6%
	-1,05 % CA	-139,2%	2,68 % CA	-50,9%	5,46 % CA	3,22 % CA	-132,6%

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 stock to turnover ratio is 0
	The risk provisions are 1,023,175 €
	Industry code with low risk rating
	Department code with low risk rating
	The company has 1 director(s)
	The total assets are 13,586,206 €
	The liabilities are 11,813,139 €
	The net current assets are 13,096,209 €
	The net turnover is 22,297,183 €
	The creditor days are 66.38
	High risk workforce size
	The pre-tax profit is -234,821 €
	The shareholder's equity is 749,893 €
	The ratio total assets to total liabilities is 1,06
	The sales to current assets ratio is 1,7
	The return on total assets employed is -1,73
	The increase in the gearing percentage over the last two accounting periods is 66 %

Payment Information Summary - Trade Payment Data

Payment Information Summary - Trade Payment Data
Total number of Invoices available	219
Total number of Invoices paid within or up to 30 days after the due date	182
Total number of Invoices paid more than 30 days after the due date	37
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

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	21/07/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	SODECAD
Direct parent	H TEM - 100 %
Group – Number of companies	58
Linkages – Number of companies	-
Number of countries	-

Group Structure

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SODECAD

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Company Name	SIREN	Parts	Limit	Last account published
SODECAD	492958715	-	150 000 €	30/09/2012
F GCC	492963046	69.90%	315 000 €	30/09/2012
H GCC	428264915	83.65%	2 250 000 €	30/09/2012
YVROUD EUROPEENNE DES FLUIDES	410195291	100%	75 000 €	31/12/2012
J.B.Y.	414027268	99%	500 €	-
GCC	407794551	100%	5 000 000 €	30/09/2012
SOC NOUVELLE JEAN NALLET	434205126	100%	215 000 €	30/09/2012
ORION STRUCTURE	480936293	100%	3 000 €	30/09/2012
CONSTRUCTIONS LE COUILLARD	315411249	100%	79 000 €	30/09/2012
SOCIETE DU GRAND LARGE	380264929	100%	0 €	31/12/2009
SOCIETE NOUVELLE CUYNAT CONSTR...	445261472	100%	275 000 €	30/09/2012
GCC INVESTISSEMENTS	441580594	100%	150 000 €	30/09/2012
COMPAGNIE IMMOBILIERE SARRAI...	441944253	70%	155 000 €	30/09/2013
SNC GRAND CHALET VALORISAT...	518224399	50%	75 000 €	31/08/2013
SNC DB VALORISATION	524863826	50%	25 000 €	31/08/2013
CRECHE DU CTRE HOSPITALIER DE ...	482622727	99%	20 000 €	30/09/2012
SNC PHEM(POLE HENRI EY MORANCE...	493417489	99.90%	0 €	30/09/2012
SNC GENDARMERIE DE MOUTIERS	487840050	99%	20 000 €	30/09/2012
SOCIETE NOUVELLE BATIR 2020	508667243	95.10%	0 €	30/09/2012
SATHONAY CAMP SERVICES SCS	511431843	95%	0 €	31/12/2012
SNC OMEGA PARC	511755480	50%	500 €	-
ENTREPRISE MORINI	581880481	80%	75 000 €	30/09/2012
SOFINHOL	440901429	94%	220 000 €	31/03/2013
HOLBAT	378368294	100%	150 000 €	31/03/2013
SCI HOLIM	431772110	Majority	4 000 €	-
SNC SOFIBAT	534948443	99%	25 000 €	30/09/2012
SOCIETE NOUVELLE APILOG AUTOMATI...	454035403	63%	150 000 €	30/09/2012
TEMPEOL	452405509	89.50%	75 000 €	30/09/2012
ENTREPRISE PAYET-CLIMAX	572226603	100%	150 000 €	30/09/2012
CHAUFFAGE ET ENTRETIEN SA	384581161	100%	93 000 €	30/09/2012
COGEEF INDUSTRIE	433537206	100%	0 €	30/09/2012
SNC BRIDES VALORISATION	490962370	35%	25 000 €	31/08/2013
ELECTRICAL MECHANICAL COMPANY	497773473	73.21%	7 500 €	30/09/2012
EMCO INSTALATII SRO	-	100%	-	-
EMCO SP. Z O.O.	-	100%	-	-
F P E L	433394178	85%	50 000 €	30/09/2012
CELIUM SIETRA	513436170	70.63%	75 000 €	30/09/2012
SIETRA PROVENCE	313987307	94.96%	71 000 €	30/09/2012
M.F.E.	450453741	85.03%	150 000 €	31/12/2012
BTB ELEC	414894857	100%	175 000 €	31/12/2012
INTEGR IP	514157163	80%	25 000 €	30/09/2012
SCI E.S.M.	481519015	99.99%	50 000 €	-
EQUIPEMENTS ET FLUIDES SERVICES	524798857	57.90%	150 000 €	30/09/2011
H TEM	451296529	100%	75 000 €	30/09/2012
EI TUYAUTERIE ELECTRO MECANI...	409879863	100%	73 000 €	30/09/2012
H LUCI	518661376	69%	25 000 €	30/09/2011
LUCIOLE	480617968	95%	25 000 €	30/09/2011
SNC H GCC SERVICES	523670321	99.90%	25 000 €	31/08/2012
BRIOL ENERGIES	511083776	100%	2 000 €	31/12/2012
SALLELE ENERGIES	510475999	100%	25 000 €	31/12/2012
VITRUVE	752872754	63.86%	150 000 €	30/09/2012
CENTRAL SANIT OUEST	395107485	99.66%	150 000 €	31/12/2011
CS INGENIERIE	489794685	100%	20 000 €	31/12/2011
ARCALP	504186404	51%	150 000 €	30/09/2012
SOC PODESTA D'EQUIPEMENTS ELEC...	442531059	100%	150 000 €	30/09/2012
EXPERTECH	504965955	75%	25 000 €	30/09/2013
S'GCC	491909826	100%	150 000 €	30/09/2012
CORIOLIM	492648977	50%	-	30/09/2012

Shareholders

Type of shareholder

Shareholders

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Linkages

Ultimate parent company	SODECAD
Direct parent	H TEM - 100 %
Group – Number of companies	58
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
27/05/2013	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 12456 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes Zone Industrielle 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2012.
29/10/2012	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 11800 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes Zone Industrielle 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2011.
20/05/2011	Bodacc B	Modification et mutation diverse
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 1298 - 409 879 863 RCS Versailles. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : MAZARS modification le 12 Mai 2011 Commissaire aux comptes suppléant : DE CAMBOURG Patrick modification le 12 Mai 2011 Président : DUPENLOUP Jean-Denis en fonction le 05 Janvier 2004. Activité : . Commentaires : Modification de représentant.
02/05/2011	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 11392 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes Zone Industrielle 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2010.
19/05/2010	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 8416 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes Zone Industrielle 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2009.
05/06/2009	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 9620 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2008.
12/08/2008	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 4800 - 409879863 RCS. EI TUYAUTERIE ELECTRO MECANIQUE. Forme : Société par actions simplifiée. Adresse : 5 rue des Garennes 78440 Gargenville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2007.
23/06/2007	Bodacc C	Avis de dépôt des comptes
3733 - Versailles B 409 879 863. RC 96-B 2672. EI TUYAUTERIE ELECTRO MECANIQUE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 5, rue des Garennes,Z.I., 78440 Gargenville. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2006.
29/04/2006	Bodacc C	Avis de dépôt des comptes
2199 - RCS Versailles B 409 879 863. RC 96-B 2672. EI TUYAUTERIE ELECTRO MECANIQUE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 5, rue des Garennes,Z.I., 78440 Gargenville. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2005.
24/08/2005	Bodacc C	Avis de dépôt des comptes
1466 - RCS Versailles B 409 879 863. RC 96-B 2672. EI TUYAUTERIE ELECTRO MECANIQUE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 5, rue des Garennes,Z.I., 78440 Gargenville. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2004.
22/07/2004	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409879863 RC 96-B 2672 EI TUYAUTERIE ELECTRO MECANIQUE. Forme : S.A.S. Capital : 300 000 euros. Commentaires : modification survenue sur le capital (augmentation).
15/01/2004	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409879863 RC 96-B 2672 EI TUYAUTERIE ELECTRO MECANIQUE. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : INEO, représentée par LACROIX (Guy, René). Nomination du président : DUPENLOUP (Jean-Denis).
21/12/2003	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409879863 RC 96-B 2672 EI TUYAUTERIE ELECTRO MECANIQUE. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l' administration. Administration : gérant non associé partant : DUPENLOUP (Jean- Denis). Modification du président : INEO, représentée par LACROIX (Guy, René). Associé non gérant partant : STE D'ETUDES TECHNIQUES ET D'ENTREPRISES.
23/06/2002	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409879863 RC 96-B 2672 E.I. TUYAUTERIE ELECTRO MECANIQUE. Forme : S.N.C. Capital : 37 500 euros. Commentaires : modification survenue sur le capital (diminution) et l' administration. Administration : associé non gérant partant : L'ENTREPRISE INDUSTRIELLE-E.I., partant. Nomination d'un associé : INEO.
06/11/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Versailles B 409 879 863 RC RC 96-B 2672 E.I. TUYAUTERIE ELECTRO MECANIQUE. Forme : S.N.C. Administration : suppression : gérant non associé : CHAZAL (Maurice, Gabriel). Nomination en qualité de gérant non associé : DUPENLOUP (Jean-Denis). Modification : commissaire aux comptes suppléant : DE CAMBOURG (Patrick). Commentaires : modification survenue sur l' administration.
18/10/1998	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409 879 863 RC 96-B 2672 E.I. TUYAUTERIE ELECTRO MECANIQUE. Forme : S.N.C. Adresse du siège social : Z. I., 5 rue des Garennes 78440 Gargenville. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : Z.I., 5 rue des Garennes 78440 Gargenville.
06/01/1998	Bodacc B	Modifications et mutations diverses
RCS Versailles B 409 879 863 RC 96-B 2672 E.I. TUYAUTERIE ELECTRO-MECANIQUE. Forme : S.N.C. Commentaires : modification survenue sur l'administration. Administration : modification d'associés non gérant : STE D'ETUDES TECHNIQUES ET D'ENTREPRISES-S.E.T.E. ENTREPRISE INDUSTRIELLE-E.I. Nomination du commissaire aux comptes titulaire : MAZARS ET GUERARD. Nomination du commissaire aux comptes suppléant : DE CAMBOURG (Patrick).
18/05/1997	Bodacc A	Création d'établissement
RCS B 409 879 863 RC 97-B 918 E.I. TUYAUTERIE ELECTRO MECANIQUE. Forme : S.N. C. Capital : . Adresse du siège social : 226 avenue du Maréchal-Foch 78130 Les Mureaux Etablissement principal: Activité : conception et réalisation de centrales de production de fluides industriels et installations électromécaniques. Adresse : 210 boulevard John-Kennedy 91100 Corbeil- Essonnes Branche d'activité acquise par apport au montant évalué à 249 800 F Date de début d'activité: 31 décembre 1996. Précédent propriétaire : L' ENTREPRISE INDUSTRIELLE. RCS non inscrit Publication légale: La Gazette du Palais du 22 janvier 1997.

Establishment events history

Date	Description
27/04/2013	Update Rating
27/04/2013	Update Limit
12/01/2013	Update of phone numbers
18/12/2012	Update Limit
07/07/2012	Update Limit
29/07/2011	Update Limit
29/07/2011	Update Rating
02/07/2011	Update Limit
03/06/2011	Update Rating
07/05/2011	Update Rating
25/09/2010	Update Rating
10/05/2010	Update Limit
04/06/2009	Update Limit
19/01/2009	Update Rating
29/07/2008	Update Limit
29/07/2008	Update Rating
18/06/2008	Update Rating
16/12/2007	Update Limit
10/12/2007	Update Limit
28/08/2007	Update Limit
28/08/2007	Update Rating
06/06/2007	Update Limit

directors

Name	M. DUPENLOUP JEAN-DENIS
Manager position	President	Date of birth	29/10/1957
Place of birth	ALGER(ALGERIE)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-DENIS DUPENLOUP	29/10/1957 - ALGER(ALGERIE)
President	M JEAN-DENIS DUPENLOUP	29/10/1957 - ALGER ALGERIE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.94
UK Pound	1	Rs.103.31
Euro	1	Rs.85.11

INFORMATION DETAILS

Report Prepared by :

NIS

RATING EXPLANATIONS

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

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

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

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

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