MIRA INFORM REPORT

Report Date :

11.01.2014

IDENTIFICATION DETAILS

Name :	GAZOMAT ZI
Registered Office :	11 Rue De L Atome, 67800 Bischheim
Country :	France
Financials (as on) :	31.12.2011
Date of Incorporation :	January 1989
Com. Reg. No.:	RCS Strasbourg 8 349 155 267
Legal Form :	Limited Liability Company
Line of Business :	Manufacturer of scientific and technical instrumentation
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	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	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 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% 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

company summary

Trade name	GAZOMAT
		EUR VAT Number	FR61349155267
Activity (APE)	Fabrication d'instrumentation scientifique et technique (2651B) (Manufacturer of scientific and technical instrumentation (2651B))	Legal form	Limited Liability Company
Phone	03 88 19 72 38	RCS Registration	RCS Strasbourg 8 349 155 267
Fax		Share capital	150,000 Euros
Address	GAZOMAT ZI 11 RUE DE L ATOME 67800 BISCHHEIM	Incorporated Date	01/1989
Nationality	France	Status	Economically active

	Trading to Date	12/31/2011	12/31/2010	12/31/2009
	Turnover	4,548,329 €	3,539,759 €	4,633,057 €
	Gross Operating Surplus	10,45 % Turnover	7,71 % Turnover	19,68 % Turnover
	Shareholders’ equity	607,302 €	605,263 €	526,492 €
	Net result	2,038 €	78,771 €	572,766 €
Company details

Activity (APE)	Manufacturer of scientific and technical instrumentation
RCS Registration	RCS Strasbourg 8 349 155 267	Share capital	150,000 Euros
Registration Court	Strasbourg (67)	Legal form	Limited Liability Company
Court Registry Number	19 8 9B00050	EUR VAT Number	FR61349155267
Incorporation Date	01/1989	Formation Date	01/1989
Deregistration Date		Last account Date	31/12/2011
Nationality	France

Establishment details

Trade name	GAZOMAT
Activity (APE)	Manufacturer of scientific and technical instrumentation	Business Pages FT®	POSE, ENTRETIEN DE CANALISATIONS
Postal Address	GAZOMAT ZI 11 RUE DE L ATOME 67800 BISCHHEIM	Trading Address	11 RUE DE L ATOME 67800 BISCHHEIM
Telephone	03 88 19 72 38
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	05/1994	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role	Tenant of a goodwill
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Bas-Rhin (67)	Region	Alsace
District	6	Area	44
City	BISCHHEIM	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> GAZOMAT <<<  - Fabrication d'instrumentation scientifique et technique (2651B)  in BISCHHEIM  (67800)
Secondary establishments

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

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	DA SILVA MENDOCA PAULA ALEXAND
Manager position	Manager	Date of birth	13/04/1964
Place of birth	LISBONNE
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	M ANDRE BORUCKI	04/04/1964 - LA HESTRE BELGIQUE

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

SHARE & SHARE CAPITAL INFORMATION

Shareholders

No Shareholders available for this company

Share capital

150,000 Euros

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

Group Structure

No group 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	31/12/2011	31/12/2010	31/12/2009
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	23/01/2013	16/11/2011	05/10/2010
Activity Code	2651B	2651B	2651B
Employees	0	0	0

Active account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	236 838	17,4%	201 651	-9,7%	223 247	91 265,50	159,5%
- Intangible assets	30 318	-4,6%	31 785	-11,3%	35 818	6 049	401,2%
- Tangible assets	199 722	22,5%	163 090	-9,7%	180 591	34 402,50	480,5%
- Financial assets	6 798	0,3%	6 776	-0,9%	6 838	4 638,50	46,6%
Net current assets	3 137 927	43,0%	2 194 101	-28,8%	3 080 399	683 660,50	359,0%
- Stocks	1 221 385	33,3%	916 072	-14,0%	1 065 722	137 862	785,9%
- Advanced payments	17 907	43,0%	2 032	-76,8%	8 762	0	0%
- Receivables	1 721 769	59,3%	1 081 112	-44,1%	1 932 874	318 502,50	440,6%
- Securities and cash	176 866	-9,2%	194 885	166,8%	73 041	126 847,50	39,4%
- Prepaid expenses	-	-	-	-	-	306	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	3 374 765	40,9%	2 395 752	-27,5%	3 303 646	872 671,50	286,7%

Passive Account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Shareholders' equity	607 302	0,3%	605 263	15,0%	526 492	356 982	70,1%
Share capital	150 000	0%	150 000	0%	150 000	80 000	87,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	73 111	15,6%	63 229	124,8%	28 122	0	0%
Liabilities	2 693 532	56,0%	1 726 925	-37,2%	2 749 031	351 003	667,4%
- Financial liabilities	1 473 348	117,4%	677 622	-61,7%	1 769 578	47 475,50	3003,4%
- Advanced payments received	5 680	-75,1%	22 772	-59,1%	55 669	0	0%
- Trade account payables	758 315	6,1%	715 042	37,5%	520 086	109 824,50	590,5%
- Tax and social liabilities	382 450	31,9%	289 963	-12,3%	330 760	124 601	206,9%
- Other debts and fixed assets liabilities	74 560	241,0%	21 862	-53,4%	46 871	6 479	1050,8%
Account regularization	0	0%	0	0%	26 067	0	0%
Total liabilities	3 374 766	40,9%	2 395 753	-27,5%	3 303 645	872 671	286,7%

Results

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Sales of Goods	5 088 261	42,6%	3 569 023	-27,7%	4 935 404	1 092 355,50	365,8%
Net turnover	4 548 329	28,5%	3 539 759	-23,6%	4 633 057	1 007 424,50	351,5%
- of which net export turnover	2 524 668	22,1%	2 067 530	36,1%	1 519 217	14 755	17010,6%
Operating charges	4 702 513	37,7%	3 414 572	-14,4%	3 989 298	1 020 271	360,9%
Operating profit/loss	385 748	149,8%	154 451	-83,7%	946 106	37 735	922,3%
Financial income	9 370	826,8%	1 011	-91,9%	12 514	856	994,6%
Financial charges	9 936	6,7%	9 314	-44,0%	16 635	3 085,50	222,0%
Financial profit/loss	-566	93,2%	-8 303	-101,5%	-4 121	-304,50	-85,9%
Pretax net operating income	385 182	163,6%	146 148	-84,5%	941 985	37 699,50	921,7%
Extraordinary income	20	0%	0	0%	0	863	-97,7%
Extraordinary charges	363 730	161557,8%	225	-99,9%	223 746	752	48268,4%
Extraordinary profit/loss	-363 710	-161548,9%	-225	99,9%	-223 746	0	0%
Net result	2 038	-97,4%	78 771	-86,2%	572 766	45 964,50	-95,6%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2011	31/12/2010	31/12/2009
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2011		31/12/2010		31/12/2009
	Grand Total (I to VI)	Net	3 374 765	40,9%	2 395 752	-27,5%	3 303 646
	Gross	CO	4 214 725	31,9%	3 194 871	-20,5%	4 021 095
	Amortisation	1A	839 960	5,1%	799 119	11,4%	717 449

Non declared distributed capital (I)

		31/12/2011		31/12/2010		31/12/2009
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2011		31/12/2010		31/12/2009
	Total Active fixed asset (II)	Net	236 838	17,4%	201 651	-9,7%	223 247
	Gross	BJ	864 426	6,4%	812 186	4,3%	778 611
	Amortisation	BK	627 588	2,8%	610 535	9,9%	555 364

Intangilble fixed assets

			31/12/2011		31/12/2010		31/12/2009
	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	2 009	-42,2%	3 476	-53,7%	7 508
	Gross	AF	131 507	0%	131 507	0,0%	131 508
	Amortisation	AG	129 498	1,1%	128 031	3,3%	124 000
	Goodwill	Net	28 309	0%	28 309	0,0%	28 310
	Gross	AH	28 309	0%	28 309	0,0%	28 310
	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	30 318	-4,6%	31 785	-11,3%	35 818

Tangilble fixed assets

			31/12/2011		31/12/2010		31/12/2009
	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	118 368	7,6%	110 008	63,6%	67 250
	Gross	AR	465 651	9,9%	423 687	20,5%	351 718
	Amortisation	AS	347 283	10,7%	313 679	10,3%	284 468
	Other tangible fixed assets	Net	81 354	53,3%	53 082	-29,2%	75 011
	Gross	AT	232 161	4,6%	221 907	0%	221 907
	Amortisation	AU	150 807	-10,7%	168 825	14,9%	146 896
	Fixed assets in construction	Net	0	0%	0	0%	38 330
	Gross	AV	0	0%	0	0%	38 330
	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	199 722		163 090		180 591

Financial assets

			31/12/2011		31/12/2010		31/12/2009
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	6 798	0,3%	6 776	-0,9%	6 838
	Gross	BH	6 798	0,3%	6 776	-0,9%	6 838
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		6 798		6 776		6 838

Current Assets (III)

			31/12/2011		31/12/2010		31/12/2009
	Total Assets	Net	3 137 927	43,0%	2 194 101	-28,8%	3 080 399
	Gross	CJ	3 350 299	40,6%	2 382 685	-26,5%	3 242 484
	Amortisation	CK	212 372	12,6%	188 584	16,3%	162 085

Stocks

			31/12/2011		31/12/2010		31/12/2009
	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%	2 480	-42,8%	4 337
	Gross	BN	0	0%	2 480	-42,8%	4 337
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	1 221 385	33,7%	913 592	-13,9%	1 061 385
	Gross	BR	1 422 031	30,7%	1 087 972	-10,5%	1 215 019
	Amortisation	BS	200 646	15,1%	174 380	13,5%	153 634
	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	1 221 385	33,3%	916 072	-14,0%	1 065 722

Advance payments to suppliers

			31/12/2011		31/12/2010		31/12/2009
	Advance payments to suppliers	Net	17 907	781,2%	2 032	-76,8%	8 762
	Gross	BV	17 907	781,2%	2 032	-76,8%	8 762
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2011		31/12/2010		31/12/2009
	Trade accounts receivable	Net	1 683 468	66,0%	1 013 844	-40,5%	1 702 839
	Gross	BX	1 695 194	64,9%	1 028 048	-39,9%	1 711 290
	Amortisation	BY	11 726	-17,4%	14 204	68,1%	8 451
	Other debtors	Net	37 470	-43,0%	65 722	-70,3%	221 179
	Gross	BZ	37 470	-43,0%	65 722	-70,3%	221 179
	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	1 720 938	59,4%	1 079 566	-43,9%	1 924 018

Divers

			31/12/2011		31/12/2010		31/12/2009
	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	176 866	-9,2%	194 885	166,8%	73 041
	Gross	CF	176 866	-9,2%	194 885	166,8%	73 041
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	176 866	-9,2%	194 885	166,8%	73 041

Prepaid expenses

			31/12/2011		31/12/2010		31/12/2009
	Prepaid expenses	Net	831	-46,2%	1 546	-82,5%	8 856
	Gross	CH	831	-46,2%	1 546	-82,5%	8 856
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2011		31/12/2010		31/12/2009
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2011		31/12/2010		31/12/2009
Grand Total (I to V)	EE	3 374 766	40,9%	2 395 753	-27,5%	3 303 645

Shareholder Equity (I)

			31/12/2011		31/12/2010		31/12/2009
	Total shareholders' equity (Total I)	DL	607 302	0,3%	605 263	15,0%	526 492
	Equity and shareholders' equity	DA	150 000	0%	150 000	0%	150 000
	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	15 000	0%	15 000	1865,9%	763
	Statutory or contractual reserve	DE	60 226	0%	60 226	0%	60 226
	Special regulated reserves	DF	2 449	0%	2 449	0%	2 449
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	377 589	26,4%	298 817	0%	0
	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%	-259 712
	Profit or loss for the period	DI	2 038	-97,4%	78 771	-86,2%	572 766
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2011		31/12/2010		31/12/2009
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2011		31/12/2010		31/12/2009
	Total provisions for risks and charges (Total III)	DR	73 111	15,6%	63 229	124,8%	28 122
	Risk provisions	DP	0	0%	0	0%	0
	Reserves for charges	DQ	73 111	15,6%	63 229	124,8%	28 122

Liabilities (IV)

			31/12/2011		31/12/2010		31/12/2009
	Total Liabilities (Total IV)	EC	2 693 532	56,0%	1 726 925	-37,2%	2 749 031
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	105 413
	Sundry loans and financial liabilities	DV	1 473 348	117,4%	677 622	-59,3%	1 664 165
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	5 680	-75,1%	22 772	-59,1%	55 669
	Trade accounts payables	DX	758 315	6,1%	715 042	37,5%	520 086
	Tax and social security liabilities	DY	382 450	31,9%	289 963	-12,3%	330 760
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	73 739	242,6%	21 526	-54,1%	46 871

Translation loss (V)

		31/12/2011		31/12/2010		31/12/2009
Translation loss (Total V)	ED	821	144,3%	336	0%	0

Equalization accounts

		31/12/2011		31/12/2010		31/12/2009
Deferred income	EB	0	0%	0	0%	26 067

References

		31/12/2011		31/12/2010		31/12/2009
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2011		31/12/2010		31/12/2009
Operating result (Total I-II)	GG	385 748	149,8%	154 451	-83,7%	946 106

2 - Financial result (V - VI)

		31/12/2011		31/12/2010		31/12/2009
Financial result (Total V-VI)	GV	-566	93,2%	-8 303	-101,5%	-4 121

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

		31/12/2011		31/12/2010		31/12/2009
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	385 182	163,6%	146 148	-84,5%	941 985

4 - Extraordinary result (VII-VIII)

		31/12/2011		31/12/2010		31/12/2009
Extraordinary result (Total VII-VIII)	HI	-363 710	-161548,9%	-225	99,9%	-223 746

Profit or loss

		31/12/2011		31/12/2010		31/12/2009
Profit or loss	HN	2 038	-97,4%	78 771	-86,2%	572 766

Total Income (I+III+V+VII)

		31/12/2011		31/12/2010		31/12/2009
Total Income (I+III+V+VII)	HL	5 097 651	42,8%	3 570 034	-27,8%	4 947 918

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

		31/12/2011		31/12/2010		31/12/2009
Total charges (Total II+IV+VI+VIII+IX+X)	HM	5 095 615	46,0%	3 491 260	-20,2%	4 375 152

Operating income (I)

		31/12/2011		31/12/2010		31/12/2009
Total operating income (Total I)	FR	5 088 261	42,6%	3 569 023	-27,7%	4 935 404

Operating income (details)

			31/12/2011		31/12/2010		31/12/2009
	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	3 924 421	24,4%	3 154 872	-23,6%	4 130 789
	France	FD	1 474 952	24,2%	1 187 810	-56,8%	2 748 660
	Export	FE	2 449 469	24,5%	1 967 062	42,3%	1 382 129
	Sale of services	FI	623 908	62,1%	384 887	-23,4%	502 268
	France	FG	548 709	92,9%	284 419	-22,1%	365 180
	Export	FH	75 199	-25,2%	100 468	-26,7%	137 088
	Net turnover	FL	4 548 329	28,5%	3 539 759	-23,6%	4 633 057
	France	FJ	2 023 661	37,5%	1 472 229	-52,7%	3 113 840
	Export	FK	2 524 668	22,1%	2 067 530	36,1%	1 519 217
	Stocked production	FM	332 365	357,8%	-128 903	-1085,9%	13 075
	Self-constructed assets	FN	22 067	0%	0	0%	16 121
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	178 025	15,2%	154 525	-43,4%	272 917
	Other income	FQ	7 475	105,2%	3 642	1456,4%	234

Operating charges (II)

		31/12/2011		31/12/2010		31/12/2009
Total operating charges (Total II)	GF	4 702 513	37,7%	3 414 572	-14,4%	3 989 298

Exploitation charges

		31/12/2011		31/12/2010		31/12/2009
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	1 938 440	86,8%	1 037 895	-31,4%	1 513 850
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	996 278	19,5%	833 587	-15,3%	984 443
Tax, duty and similar payments	FX	64 717	68,1%	38 497	-33,9%	58 282
Payroll	FY	961 454	15,4%	832 838	2,6%	811 819
Social security costs	FZ	466 693	18,1%	395 135	3,4%	382 283

Depreciation

		31/12/2011		31/12/2010		31/12/2009
Depreciation of fixed assets	GA	56 302	2,0%	55 174	-4,5%	57 784
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	200 646	11,3%	180 259	11,3%	161 959
Provisions for risks and charges	GD	9 882	-71,9%	35 107	607,9%	4 959

Other charges

		31/12/2011		31/12/2010		31/12/2009
Other charges	GE	8 101	33,2%	6 080	-56,3%	13 919

Operating charges (III-IV)

		31/12/2011		31/12/2010		31/12/2009
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2011		31/12/2010		31/12/2009
	Total financial income (Total V)	GP	9 370	826,8%	1 011	-91,9%	12 514
	Share financial income	GJ	0	0%	0	0%	08
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	8 164	1193,8%	631	-64,9%	1 799
	Released provisions and transferred charges	GM	0	0%	0	0%	3 533
	Exchange gains	GN	1 206	217,4%	380	-94,7%	7 174
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2011		31/12/2010		31/12/2009
	Total financial charge (Total VI)	GU	9 936	6,7%	9 314	-44,0%	16 635
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	9 473	28,2%	7 391	-50,3%	14 866
	Exchange losses	GS	463	-75,9%	1 923	8,7%	1 769
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2011		31/12/2010		31/12/2009
	Total extraordinary income (Total VII)	HD	20	0%	0	0%	0
	Extraordinary operating income	HA	0	0%	0	0%	0
	Extraordinary income from capital transactions	HB	20	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2011		31/12/2010		31/12/2009
	Total extraordinary charges (Total VIII)	HH	363 730	161557,8%	225	-99,9%	223 746
	Extraordinary operating charges	HE	363 730	161557,8%	225	-95,5%	5 054
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	218 692
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2011		31/12/2010		31/12/2009
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2011		31/12/2010		31/12/2009
Tax on profits (Total X)	HK	19 436	-71,1%	67 149	-53,8%	145 473

References

		31/12/2011		31/12/2010		31/12/2009
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2011		31/12/2010		31/12/2009
	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	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	0

Research and development Charge (Total I)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LN	0	0%	0	0%	0
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	0
	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%	0

Fiancial assets (Total IV)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LQ	0	0%	0	0%	0
	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%	0

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

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	0
Increases		QV	0	0%	0	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	0

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2011		31/12/2010		31/12/2009
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

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)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/12/2011		31/12/2010		31/12/2009
Gross value	VT	0	0%	0	0%	0
1 year at most	VU	0	0%	0	0%	0
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2011		31/12/2010		31/12/2009
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2011		31/12/2010		31/12/2009
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

		31/12/2011		31/12/2010		31/12/2009
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/12/2011		31/12/2010		31/12/2009
	Total debt (gross)	VY	0	0%	0	0%	0
1 year at most		VZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2011		31/12/2010		31/12/2009
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	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	0	0%	0	0%	0
1 year at most		8B2	0	0%	0	0%	0
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%	0	0%	0
1 year at most		8D2	0	0%	0	0%	0
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%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2011		31/12/2010		31/12/2009
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2011		31/12/2010		31/12/2009
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2011		31/12/2010		31/12/2009
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2011		31/12/2010		31/12/2009
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2011		31/12/2010		31/12/2009
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2011		31/12/2010		31/12/2009
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2011		31/12/2010		31/12/2009
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Fixed Asset Financing		3,22	33,6%	2,41	-34,9%	3,70	2,31	39,4%
Global Debt		213 days	21,0%	176 days	-17,8%	214 days	133 days	60,2%
Working Capital Fund overall net		152 days	31,0%	116 days	-28,8%	163 days	142 days	7,0%
Financial independence		%	-	%	-	499,46%	990,78%	-
More ratios
Solvability		18%	-28,7%	25,26%	58,5%	15,94%	51,13%	-64,8%
Capacity debt futures		%	-	%	-	%	2648,05%	-
Coverage of current assets by net working capital overall		57,23%	19,1%	48,06%	-26,0%	64,97%	52,81%	8,4%
General Liquidity			-		-		0,94	-
Restricted Liquidity			-		-		1,47	-

Management or rotation

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Need background in operating working capital		138 days	43,8%	96 days	-39,6%	159 days	69 days	100%
Treasury		14 days	-30,0%	20 days	233,3%	6 days	34 days	-58,8%
Inventory turnover of goods		days	-	days	-	days	18 days	-
Average length of credit granted to customers		134 days	27,6%	105 days	-21,1%	133 days	80,50 days	66,5%
Average length of credit obtained suppliers		93 days	-32,6%	138 days	84,0%	75 days	69 days	34,8%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	101 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	591,50 days	-
Rotation tangible assets		%	-	%	-	%	630,69%	-

Profitability of the business

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		10,45	35,5%	7,71	-60,8%	19,68	7,20%	45,1%
Net profit		0,04%	-98,2%	2,23%	-82,0%	12,36%	4,99%	-99,2%
More ratios
Growth rate of turnover (excluding VAT)		28,49%	220,7%	-23,60%	-138,7%	61,01%	8,55%	233,2%
Rates integration		43,27%	-0,5%	43,49%	-6,9%	46,71%	44,87%	-3,6%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		72,57%	-9,0%	79,77%	44,6%	55,18%	76,34%	-4,9%
Weight interests		0,22	-15,4%	0,26%	-27,8%	0,36%	0,35%	-37,1%

Return on capital

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Cash flow from the overall profitability		1,28%	-66,1%	3,78%	-79,4%	18,33%	6,87%	-81,4%
Rates of economic profitability		23%	9,5%	21%	-47,5%	40%	15%	53,3%
Financial profitability		607302%	0,3%	605263%	15,0%	526492%	357267%	70,0%
Return on investment		0,58%	-91,6%	6,87%	-73,2%	25,67%	11,69%	-95,0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Turnover	4 548 329	28,5%	3 539 759	-23,6%	4 633 057	1 007 424 €	351,5%

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	4 548 329	28,5%	3 539 759	-23,6%	4 633 057
+/- Stocked production	332 365	357,8%	-128 903	-1085,9%	13 075
+ Self-constructed assets	22 067	0%	0	0%	16 121
Period production	4 902 761 €	43,7%	3 410 856 €	-26,8%	4 662 253 €	729 359 €	572,2%
	107,79 % CA	11,9%	96,36 % CA	-4,2%	100,63 % CA	99,74 % CA	8,1%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	4 902 761	43,7%	3 410 856	-26,8%	4 662 253	729 359	572,2%
- Purchase of raw materials	1 938 440	86,8%	1 037 895	-31,4%	1 513 850
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	996 278	19,5%	833 587	-15,3%	984 443
Added value	1 968 043 €	27,8%	1 539 374 €	-28,9%	2 163 960 €	429 427 €	358,3%
	43,27 % CA	-0,5%	43,49 % CA	-6,9%	46,71 % CA	44,87 % CA	-3,6%

Added value	1 968 043 €	27,8%	1 539 374 €	-28,9%	2 163 960 €	429 427 €	358,3%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	64 717	68,1%	38 497	-33,9%	58 282
- Personal charges	1 428 147	16,3%	1 227 973	2,8%	1 194 102
Gross operating surplus	475 179 €	74,1%	272 904 €	-70,1%	911 576 €	55 553 €	755,4%
	10,45 % CA	35,5%	7,71 % CA	-60,8%	19,68 % CA	7,20 % CA	45,1%

Gross operating surplus	475 179 €	74,1%	272 904 €	-70,1%	911 576 €	55 553 €	755,4%
+ Release of reserves and provisions	178 025	15,2%	154 525	-43,4%	272 917
+ Other operating income	7 475	105,2%	3 642	1456,4%	234
- Depreciation/Amortisation	266 830	-1,4%	270 540	20,4%	224 702
- Other charges	8 101	33,2%	6 080	-56,3%	13 919
Operating result	385 748 €	149,8%	154 451 €	-83,7%	946 106 €	37 735 €	922,3%
	8,48 % CA	94,5%	4,36 % CA	-78,6%	20,42 % CA	5,08 % CA	66,9%

Operating result	385 748 €	149,8%	154 451 €	-83,7%	946 106 €	37 735 €	922,3%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	9 370	826,8%	1 011	-91,9%	12 514
- Financial charges	9 936	6,7%	9 314	-44,0%	16 635
Pre-tax result	385 182 €	163,6%	146 148 €	-84,5%	941 985 €	37 699,50 €	921,7%
	8,47 % CA	105,1%	4,13 % CA	-79,7%	20,33 % CA	4,70 % CA	80,2%

Extraordinary income	20	0%	0	0%	0	863	-97,7%
- Extraordinary charges	363 730	161557,8%	225	-99,9%	223 746
Extraordinary result	-363 710 €	-161548,9%	-225 €	99,9%	-223 746 €	0 €	0%
	-8,00 % CA	-79900%	-0,01 % CA	99,8%	-5 % CA	0 % CA	0%

Pre-tax result	385 182 €	163,6%	146 148 €	-84,5%	941 985 €	37 699,50 €	921,7%
Extraordinary result	-363 710 €	-161548,9%	-225 €	99,9%	-223 746 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	19 436	-71,1%	67 149	-53,8%	145 473
Net result	2 036 €	-97,4%	78 774 €	-86,2%	572 766 €	45 966,50 €	-95,6%
	0,04 % CA	-98,2%	2,23 % CA	-82,0%	12,36 % CA	4,99 % CA	-99,2%

ADDITIONAL INFORMATION

This company is not under monitoring

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 shareholder's equity is more than 250,000€

The return on total assets employed is positive

Industry code with low risk rating

The company is 24 years old

The tangible fixed assets are 199,722 €

The ratio total assets to total liabilities is 1,22

The pre-tax profit is less than 25,000€

The deviation of shareholder's equity over the past two years is less than 75%

The sales to current assets ratio is 1,45

The liquidity acid test is less than 65%

The debtor days are 138.17

The deviation of the current ratio over the past two years is less than 80%

Linkages

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
01/09/2013	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1515 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
18/10/2012	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1326 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
24/11/2011	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1633 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
10/10/2010	Bodacc B	Modification et mutation diverse
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1109 - 349 155 267 RCS Strasbourg. GAZOMAT. Forme : S.A.R.L. Administration : cogérants : DA SILVA MENDOCA (Paula, Alexandra) ; GHIRCOIAS (Vincent) ; commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT ; commissaire aux comptes suppléant : NICOLAS (Yves). Commentaires : modification survenue sur l'administration.
08/10/2010	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1345 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
13/09/2009	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 882 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
18/10/2008	Bodacc C	Comptes annuels et rapports
67 - BAS-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE STRASBOURG 1075 - 349155267 RCS. GAZOMAT. Forme : S.A.R.L. Adresse : Z.I., 11, rue de l'Atome, 67800 Bischheim. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
19/08/2007	Bodacc C	Avis de dépôt des comptes
2156 - Strasbourg B 349 155 267. RC 89-B 50. GAZOMAT. Forme: S.A.R.L. Adresse du siège social: Z.I., 11, rue de l'Atome,67800 Bischheim. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
18/07/2006	Bodacc C	Avis de dépôt des comptes
1786 - RCS Strasbourg B 349 155 267. RC 89-B 50. GAZOMAT. Forme: S.A.R.L. Adresse du siège social: Z.I., 11, rue de l'Atome,67800 Bischheim. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
17/03/2006	Bodacc B	Modifications et mutations diverses
1080 - RCS Strasbourg 349 155 267. RC 89-B 50. GAZOMAT. Forme : S.A.R.L. Capital : 150 000 euros. Nom commercial : Gazomat. Adresse du siège social : Z.I., 11 rue de l'Atome,, 67800 Administration : ancien gérant : VAN SCHANDEVIJL (Jean, Paul). Nouveau gérant : BORUCKI (André). Date d'effet : 31 décembre 2005.
06/09/2005	Bodacc C	Avis de dépôt des comptes
1552 - RCS Strasbourg B 349 155 267. RC 89-B 50. GAZOMAT. Forme: S.A.R.L. Adresse du siège social: Z.I., 11, rue de l'Atome,67800 Bischheim. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
16/06/2005	Bodacc B	Modifications et mutations diverses
588 - RCS Strasbourg 349 155 267. RC 89-B 50. GAZOMAT. Forme : S.A.R.L. Capital : 150 000 euros. Nom commercial : Gazomat. Adresse du siège social : Z.I., 11 rue de l'Atome,, 67800 Administration : nomination en qualité de personne ayant pouvoir d'engager la société : GHIRCOIAS (Vincent). Date d'effet : 31 janvier 2005.
05/09/2004	Bodacc B	Modifications et mutations diverses
RCS Strasbourg 349155267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 150 000 euros Nom commercial: Gazomat. Adresse du siège social : Z.I., 11 rue de l' Atome, 67800 Bischheim. Administration : commissaire aux comptes titulaire partant : COOPERS & LYBRAND. Nouveau commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT S.A., ancien commissaire aux comptes suppléant. Nouveau commissaire aux comptes suppléant : NICOLAS (Yves). Date d'effet : 22 juin 2004.
30/10/2003	Bodacc B	Modifications et mutations diverses
RCS Strasbourg 349155267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 150 000 euros. Adresse du siège social : Z.I., 11 rue de l'Atome, 67800 Bischheim. Administration : ancien commissaire aux comptes suppléant : NICOLAS (Yves). Nouveau commissaire aux comptes suppléant : PRICEWATERHOUSECOOPERS AUDIT. Date d'effet : 21 mai 2003.
14/12/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Strasbourg B 349155267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 1 000 000 de F Nom commercial: Gazomat. Adresse : Z.I., 11 rue de l'Atome, 67800 Bischheim Nouvelle situation du siège social. Capital : 150 000 euros à compter du: 15 mai 2001. Commentaires : conversion du capital en euros et réduction. Reprise par la STE T.D. WILLIAMSON FRANCE du fonds de commerce d'achat, import-export, vente, fabrication, assemblage, sous-traitance, ainsi que service après-vente d' équipements pour la détection des métaux. Date d'effet : 16 mai 2001.
08/09/2000	Bodacc B	Modifications et mutations diverses
RCS Strasbourg B 349155267 RC 89-B 50 GAZOMAT Nom commercial: Gazomat. Forme : S.A.R.L. Capital : 1 000 000 F (fixe). Adresse du siège social : 11, rue de l' Atome, Z.I., 67800 Bischheim. Commentaires : changement de loueur de fonds : ancien, BRUNAM EUROPE nouveau, TD WILLIAMSON FRANCE, suite à la fusion- absorption de BRUNAM EUROPE par TD WILLIAMSON FRANCE. Date d'effet : 31 mai 2000.
08/09/2000	Bodacc B	Modifications et mutations diverses
RCS Strasbourg B 349155267 A dater du: 4 juillet 2000 RC 89-B 50 GAZOMAT Nom commercial: Gazomat. Forme : S.A.R.L. Capital : 1 000 000 F (fixe). Adresse du siège social : 11, rue de l'Atome, Z.I., 67800 Bischheim. Administration : ancien commissaire aux comptes suppléant : GUFFLET (Gilles) nouveau commissaire aux comptes suppléant : NICOLAS (Yves). Date d'effet : 31 mai 2000.
31/03/2000	Bodacc B	Modifications et mutations diverses
RCS Strasbourg B 349155267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 1 000 000 de F Nom commercial: Gazomat. Adresse du siège social : Z.I., 11 rue de l'Atome, 67800 Bischheim. Commentaires : prise en location-gérance d'un fonds d'achat, d'import-export, de vente, de fabrication, d'assemblage, de sous-traitance et de services après- vente d'équipements pour la détection des métaux appartenant à la STE BRUNAM EUROPE, activité précédemment exploitée au 11 avenue Dubonnet, 92400 Courbevoie. Date d'effet : 1er janvier 2000.
12/11/1998	Bodacc B	Modifications et mutations diverses
RCS Strasbourg B 349 155 267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 1 000 000 F (fixe) Nom commercial: Gazomat. Adresse du siège social : 11 rue de l' Atome, zone industrielle, 67800 Bischheim. Administration : nouveau commissaire aux comptes titulaire : COOPERS & LYBRAND AUDIT nouveau commissaire aux comptes suppléant : GUFFLET (Gilles). Date d'effet : 16 juin 1998.
15/09/1995	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Strasbourg B 349155267 RC 89-B 50 GAZOMAT. Forme : S.A.R.L. Capital : 1 000 000 F (fixe) Nom commercial: Gazomat. Adresse : zone industrielle, 11, rue de l'Atome, 67800 Bischheim Nouvelle situation du siège social Adjonction d' activité: fabrication, entretien, réparation, essais de véhicules automobiles de surveillance de réseaux de gaz et autres fluides équipés de systèmes électroniques de détection. Date d'effet : 12 mai 1995.

Company events history

Date	Description
20/10/2013	Update Limit
20/10/2013	Update Rating
15/10/2013	Update Limit
01/09/2013	Bodacc C : Deposit accounts notice
24/01/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/10/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
24/11/2011	Bodacc C : Deposit accounts notice
18/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
12/10/2010	Private document
10/10/2010	Bodacc B: Various editing or changing
08/10/2010	Bodacc C : Deposit accounts notice
13/09/2010	Appointment/resignation of company officers
13/09/2010	Amendment
13/09/2010	Sale of shares
31/12/2009	New accounts available
13/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
18/10/2008	Bodacc C : Deposit accounts notice
18/07/2008	Amendment
18/07/2008	Continuation of business despite loss of equity
18/07/2008	Private document
18/07/2008	Minutes of general meeting of shareholders
31/12/2007	New accounts available
15/06/2007	Cession de parts
15/06/2007	Sale of shares
15/06/2007	Acte sous seing privé
15/06/2007	Private document
15/06/2007	PV d'Assemblée
15/06/2007	Minutes of general meeting of shareholders
15/06/2007	Statuts mis à jour
15/06/2007	Updated articles of association
15/06/2007	Acte modificatif
31/12/2006	New accounts available
22/06/2006	Statuts mis à jour
22/06/2006	Cession de parts
22/06/2006	Acte sous seing privé
22/06/2006	Minutes of general meeting of shareholders
22/06/2006	PV d'Assemblée
22/06/2006	Acte modificatif
22/06/2006	Private document
22/06/2006	Updated articles of association
22/06/2006	Sale of shares
13/02/2006	Appointment/resignation of company officers
13/02/2006	Acte modificatif
13/02/2006	Minutes of general meeting of shareholders
13/02/2006	PV d'Assemblée
13/02/2006	Nomination/démission des organes de gestion
13/02/2006	Private document
13/02/2006	Acte sous seing privé
31/12/2005	New accounts available
06/07/2005	Acte modificatif
06/07/2005	Acte sous seing privé
06/07/2005	Private document
06/07/2005	Reconstitution de l'Actif Net
06/07/2005	Reconstitution of net assets
06/07/2005	PV d'Assemblée
06/07/2005	Minutes of general meeting of shareholders
11/05/2005	Acte sous seing privé
11/05/2005	Acte modificatif
11/05/2005	Minutes of general meeting of shareholders
11/05/2005	PV d'Assemblée
11/05/2005	Private document
11/05/2005	Amendment
31/12/2004	New accounts available
09/08/2004	Changement de Commissaire aux Comptes
09/08/2004	Minutes of general meeting of shareholders
09/08/2004	Private document
09/08/2004	Acte modificatif
09/08/2004	PV d'Assemblée
09/08/2004	Acte sous seing privé
09/08/2004	Nomination/démission des organes de gestion
09/08/2004	Appointment/resignation of company officers
09/08/2004	New auditor
31/12/2003	New accounts available
30/09/2003	Nomination/démission des organes de gestion
30/09/2003	Acte modificatif
30/09/2003	PV d'Assemblée
30/09/2003	Changement de Commissaire aux Comptes
30/09/2003	Acte sous seing privé
11/09/2002	Acte sous seing privé
11/09/2002	Continuation malgré perte supérieure à la moitié du capital
11/09/2002	Acte modificatif
11/09/2002	PV d'Assemblée
08/11/2001	Acte sous seing privé
08/11/2001	Reconstitution de l'Actif Net
08/11/2001	Conversion du Capital Social en Euros
08/11/2001	Réduction de Capital
08/11/2001	Acte modificatif
08/11/2001	Statuts mis à jour
08/11/2001	PV d'Assemblée
04/07/2000	Acte modificatif
04/07/2000	Nomination/démission des organes de gestion
04/07/2000	Changement de Commissaire aux Comptes
04/07/2000	Statuts mis à jour
04/07/2000	PV d'Assemblée
04/07/2000	Acte sous seing privé
03/05/2000	Acte sous seing privé
03/05/2000	Cession de parts
03/05/2000	Acte modificatif
07/09/1998	Acte modificatif
07/09/1998	PV d'Assemblée
07/09/1998	Acte sous seing privé
07/09/1998	Continuation malgré perte supérieure à la moitié du capital
25/06/1997	Acte modificatif
25/06/1997	Statuts mis à jour
25/06/1997	PV d'Assemblée
25/06/1997	Nomination/démission des organes de gestion
25/06/1997	Acte sous seing privé
25/06/1997	Cession de parts
05/07/1996	Acte modificatif
05/07/1996	Statuts mis à jour
05/07/1996	Acte sous seing privé
05/07/1996	PV d'Assemblée
05/07/1996	Cession de parts
03/07/1995	Statuts mis à jour
03/07/1995	Acte sous seing privé
03/07/1995	Cession de parts
03/07/1995	Acte modificatif
03/07/1995	Modification de l'objet social
03/07/1995	PV d'Assemblée
23/02/1995	Acte modificatif
23/02/1995	PV d'Assemblée
23/02/1995	Cession de parts
23/02/1995	Changement de Forme Juridique avec changement de catégorie
23/02/1995	Nomination/démission des organes de gestion
23/02/1995	Acte sous seing privé
23/02/1995	Statuts mis à jour
23/02/1995	Changement de Forme Juridique sans changement de catégorie
01/09/1994	Statuts mis à jour
01/09/1994	PV d'Assemblée
01/09/1994	Nomination/démission des organes de gestion
01/09/1994	Augmentation de Capital
01/09/1994	Acte sous seing privé
01/09/1994	Continuation malgré perte supérieure à la moitié du capital
01/09/1994	Changement de Gérant
01/09/1994	Transfert du Siège dans le ressort du Tribunal de Commerce
01/09/1994	Acte modificatif
01/09/1994	Cession de parts
10/05/1994	Acte sous seing privé
10/05/1994	Cession de parts
10/05/1994	Acte modificatif
26/04/1994	Acte sous seing privé
26/04/1994	Cession de parts
26/04/1994	Acte modificatif

Establishment events history

Date	Description
29/11/2013	Update Rating
12/09/2013	Update Limit
12/09/2013	Update Rating
24/01/2013	Update Rating
24/01/2013	Update Limit
12/01/2013	Update of phone numbers
25/11/2012	Update Rating
10/09/2012	Update Rating
10/09/2012	Update Limit
12/04/2012	Update Rating
30/01/2012	Update Rating
18/11/2011	Update Limit
18/11/2011	Update Rating
07/10/2011	Update Limit
07/10/2011	Update Rating
28/07/2011	Update Rating
23/03/2011	Update Rating
06/11/2010	Update Rating
07/10/2010	Update Rating
07/10/2010	Update Limit
26/09/2009	Update Rating
21/08/2008	Update Limit
16/12/2007	Update Limit
10/12/2007	Update Limit
17/07/2007	Update Limit
17/07/2007	Update Rating

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.94
UK Pound	1	Rs.102.06
Euro	1	Rs.84.31

INFORMATION DETAILS

Report Prepared by :

MNL

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.