MIRA INFORM REPORT

Report Date :

15.01.2014

IDENTIFICATION DETAILS

Name :	COGIMEX FRANCE SA
Registered Office :	Cogimex France Sa Ambigu Effectif Full-Blue Rte Du Plan De La Tour 83120 Sainte Maxime
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	October 1991
Legal Form :	Simplified joint stock company
Line of Business :	Wholesale of Clothing and footwear
No. of Employees :	08

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 4.8% of GDP in 2012, while France's public debt rose from 68% of GDP to 90% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

COGIMEX FRANCE SA

SIRET

383 131 265 00050

Personal comment

COMPANY SUMMARY

Trade name	AMBIGU EFFECTIF
		EUR VAT Number	FR67383131265
Activity (APE)	Wholesale (intercompany trade) Clothing and footwear (4642Z)	Legal form	Simplified joint stock company
Phone	04 94 49 21 33	RCS Registration	RCS Frejus 9 383 131 265
Fax
Address	COGIMEX FRANCE SA AMBIGU EFFECTIF FULL-BLUE RTE DU PLAN DE LA TOUR 83120 SAINTE MAXIME	Incorporated Date	10/1991
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	M. GROS JEAN-JACQUES EDOUARD
Manager position	President	Date of birth	09/02/1959
Place of birth	MAZAMET 81
Type	Individual	Name at birth

Name	Mme. GROS VIVIANE NICOLE JULIENNE
Manager position	Managing director	Date of birth	13/12/1951
Place of birth	SAINTE ADRESSE 76
Type	Individual	Name at birth	BRUN

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-JACQUES GROS	09/02/1959 - MAZAMET
Managing director	MME VIVIANE GROS	13/12/1951 - SAINTE ADRESSE

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

1,000,000 Euros

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Safe Number	Company number	Click here to view the affiliation links
	COGIMEX FRANCE	FR02851195	383131265

Ultimate Parent

1 ultimate parent company for this company > COGIMEX FRANCE SA  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in SAINTE MAXIME  (83120)

Group data

Ultimate parent company	COGIMEX FRANCE
Direct parent	-
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-

Group Structure

Company Name	SIREN	Parts	Rating	Limit	Last account published
COGIMEX FRANCE SA	383131265	-	55	75 000 €	31/12/2012
PLG CONFECTION	-	83.25%	NC	-	-
COGIMEX USA CORPORATION	-	51%	NC	-	-

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

Trading to Date	12/31/2012	12/31/2011	06/30/2011
Turnover	7,777,237 €	2,874,077 €	6,574,508 €
Gross Operating Surplus	4,70 % Turnover	2,41 % Turnover	3,79 % Turnover
Shareholders’ equity	2,029,825 €	2,013,660 €	2,012,607 €
Net result	116,165 €	1,052 €	101,646 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	30/06/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	22/08/2013	07/11/2012	25/01/2012
Activity Code	4642Z	4642Z	4642Z
Employees	8	9	9

Active account

Annual Accounts	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 436 635	0,6%	1 427 964	-0,4%	1 434 094	44 008,50	3164,4%
- Intangible assets	10 105	-55,1%	22 496	-32,5%	33 336	6 469,50	56,2%
- Tangible assets	450 204	5,2%	427 965	-2,0%	436 495	5 803	7658,1%
- Financial assets	976 326	-0,1%	977 499	1,4%	964 263	5 850	16589,3%
Net current assets	4 647 586	22,4%	3 797 723	4,1%	3 647 896	214 139	2070,4%
- Stocks	2 662 373	26,0%	2 113 068	2,4%	2 064 469	54 786	4759,6%
- Advanced payments	0	22,4%	0	0%	0	0	0%
- Receivables	1 900 752	30,2%	1 459 559	8,5%	1 344 667	62 887,50	2922,5%
- Securities and cash	84 461	-62,5%	225 096	-5,7%	238 760	33 531	151,9%
- Prepaid expenses	-	-	-	-	-	105	-
Accounts of regularization	86 154	-31,5%	125 709	32,3%	94 994	0	0%
Total Assets	6 170 376	15,3%	5 351 399	3,4%	5 176 986	304 071	1929,3%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Shareholders' equity	2 029 825	0,8%	2 013 660	0,1%	2 012 607	65 226	3012,0%
Share capital	1 000 000	0%	1 000 000	0%	1 000 000	9 800	10104,1%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	24 976	-64,3%	69 954	-30,9%	101 205	0	0%
Liabilities	4 029 651	26,6%	3 182 894	4,6%	3 043 057	199 613	1918,7%
- Financial liabilities	736 868	-28,7%	1 033 811	7,3%	963 270	18 536,50	3875,2%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	3 040 638	54,2%	1 972 005	6,5%	1 852 426	67 547	4401,5%
- Tax and social liabilities	228 862	86,0%	123 012	-33,5%	184 925	44 903,50	409,7%
- Other debts and fixed assets liabilities	109 204	-21,4%	138 951	122,2%	62 546	10 008,50	991,1%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	6 170 376	15,3%	5 351 398	3,4%	5 176 986	304 070,50	1929,3%

Results

Annual Accounts	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Sales of Goods	7 808 343	170,1%	2 891 048	-56,2%	6 600 450	450 235,50	1634,3%
Net turnover	7 777 237	170,6%	2 874 077	-56,3%	6 574 508	442 703,50	1656,8%
- of which net export turnover	4 077 069	196,6%	1 374 633	-52,4%	2 889 642	439	928617,3%
Operating charges	7 542 474	163,0%	2 867 966	-55,4%	6 427 598	444 138	1598,2%
Operating profit/loss	265 869	1051,8%	23 082	-86,6%	172 851	7 626,50	3386,1%
Financial income	0	0%	0	0%	0	02	0%
Financial charges	85 317	84,8%	46 156	-52,0%	96 211	755	11200,3%
Financial profit/loss	-85 317	-84,8%	-46 156	52,0%	-96 211	-96,50	-88311,4%
Pretax net operating income	180 552	882,5%	-23 074	-130,1%	76 640	6 333,50	2750,7%
Extraordinary income	25 403	-12,1%	28 903	-92,5%	386 587	0	0%
Extraordinary charges	17 518	487,7%	2 981	-99,1%	318 752	229	7549,8%
Extraordinary profit/loss	7 885	-69,6%	25 922	-61,8%	67 834	0	0%
Net result	116 165	10942,3%	1 052	-99,0%	101 646	6 441,50	1703,4%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2012	31/12/2011	30/06/2011
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		30/06/2011
Grand Total (I to VI)	Net	6 170 376	15,3%	5 351 399	3,4%	5 176 986
Gross	CO	6 574 463	16,0%	5 668 097	3,1%	5 499 890
Amortisation	1A	404 087	27,6%	316 698	-1,9%	322 904

Non declared distributed capital (I)

		31/12/2012		31/12/2011		30/06/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2012		31/12/2011		30/06/2011
Total Active fixed asset (II)	Net	1 436 635	0,6%	1 427 964	-0,4%	1 434 094
Gross	BJ	1 806 821	4,3%	1 732 596	-0,7%	1 744 953
Amortisation	BK	370 186	21,5%	304 632	-2,0%	310 859

Intangible fixed assets

			31/12/2012		31/12/2011		30/06/2011
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	10 105	-55,1%	22 496	-32,5%	33 336
	Gross	AF	37 172	0%	37 172	-55,5%	83 547
	Amortisation	AG	27 067	84,4%	14 676	-70,8%	50 211
	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	10 105	-55,1%	22 496	-32,5%	33 336

Tangible fixed assets

		31/12/2012		31/12/2011		30/06/2011
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	43 366	-22,6%	56 036	-10,2%	62 373
Gross	AR	81 363	0%	81 363	0%	81 363
Amortisation	AS	37 997	50,0%	25 326	33,4%	18 990
Other tangible fixed assets	Net	406 838	9,4%	371 929	-0,6%	374 122
Gross	AT	711 960	11,8%	636 559	3,4%	615 780
Amortisation	AU	305 122	15,3%	264 629	9,5%	241 658
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	450 204		427 965		436 495

Financial assets

		31/12/2012		31/12/2011		30/06/2011
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	228 488	0%	228 488	0%	228 488
Gross	CU	228 488	0%	228 488	0%	228 488
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	722 451	-0,3%	724 648	1,7%	712 743
Gross	BB	722 451	-0,3%	724 648	1,7%	712 743
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	273	0%	273	0%	273
Gross	BD	273	0%	273	0%	273
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	25 114	4,3%	24 090	5,8%	22 759
Gross	BH	25 114	4,3%	24 090	5,8%	22 759
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		976 326		977 499		964 263

Current Assets (III)

		31/12/2012		31/12/2011		30/06/2011
Total Assets	Net	4 647 586	22,4%	3 797 723	4,1%	3 647 896
Gross	CJ	4 681 485	22,9%	3 809 788	4,1%	3 659 939
Amortisation	CK	33 899	181,0%	12 065	0,2%	12 043

Stocks

		31/12/2012		31/12/2011		30/06/2011
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	2 662 373	26,0%	2 113 068	2,4%	2 064 469
Gross	BT	2 672 131	25,9%	2 123 080	2,3%	2 074 843
Amortisation	BU	9 758	-2,5%	10 012	-3,5%	10 374
Sub Total Stocks	Net	2 662 373	26,0%	2 113 068	2,4%	2 064 469

Advance payments to suppliers

		31/12/2012		31/12/2011		30/06/2011
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

		31/12/2012		31/12/2011		30/06/2011
Trade accounts receivable	Net	1 841 255	43,7%	1 281 670	5,2%	1 218 322
Gross	BX	1 865 396	45,3%	1 283 723	5,2%	1 219 991
Amortisation	BY	24 141	1075,9%	2 053	23,0%	1 669
Other debtors	Net	17 849	-88,8%	159 477	89,1%	84 313
Gross	BZ	17 849	-88,8%	159 477	89,1%	84 313
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	1 859 104	29,0%	1 441 147	10,6%	1 302 635

Divers

		31/12/2012		31/12/2011		30/06/2011
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	84 461	-62,5%	225 096	-5,7%	238 760
Gross	CF	84 461	-62,5%	225 096	-5,7%	238 760
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	84 461	-62,5%	225 096	-5,7%	238 760

Prepaid expenses

		31/12/2012		31/12/2011		30/06/2011
Prepaid expenses	Net	41 648	126,2%	18 412	-56,2%	42 032
Gross	CH	41 648	126,2%	18 412	-56,2%	42 032
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		30/06/2011
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	86 154	-31,5%	125 709	32,3%	94 994
Gross		86 154	-31,5%	125 709	32,3%	94 994

References

		31/12/2012		31/12/2011		30/06/2011
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		30/06/2011
Grand Total (I to V)	EE	6 170 376	15,3%	5 351 398	3,4%	5 176 986

Shareholder Equity (I)

		31/12/2012		31/12/2011		30/06/2011
Total shareholders' equity (Total I)	DL	2 029 825	0,8%	2 013 660	0,1%	2 012 607
Equity and shareholders' equity	DA	1 000 000	0%	1 000 000	0%	1 000 000
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	99 999	0%	99 999	0%	99 999
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	813 661	-10,8%	912 609	12,5%	810 962
Profit or loss for the period	DI	116 165	10942,3%	1 052	-99,0%	101 646
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2012		31/12/2011		30/06/2011
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2012		31/12/2011		30/06/2011
Total provisions for risks and charges (Total III)	DR	24 976	-64,3%	69 954	-30,9%	101 205
Risk provisions	DP	5 232	-88,6%	45 823	-38,8%	74 880
Reserves for charges	DQ	19 744	-18,2%	24 131	-8,3%	26 325

Liabilities (IV)

		31/12/2012		31/12/2011		30/06/2011
Total Liabilities (Total IV)	EC	4 029 651	26,6%	3 182 894	4,6%	3 043 057
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	280 342	-51,2%	574 042	14,0%	503 557
Sundry loans and financial liabilities	DV	456 526	-0,7%	459 769	0,0%	459 713
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	3 040 638	54,2%	1 972 005	6,5%	1 852 426
Tax and social security liabilities	DY	228 862	86,0%	123 012	-33,5%	184 925
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	23 283	-56,9%	54 066	27,4%	42 433

Translation loss (V)

		31/12/2012		31/12/2011		30/06/2011
Translation loss (Total V)	ED	85 921	1,2%	84 885	322,0%	20 113

Equalization accounts

		31/12/2012		31/12/2011		30/06/2011
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		30/06/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	3 903 068	0%	0	0%	2 481 388
Of which current bank facilities	EH	90 000	0%	0	0%	351 580

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2012		31/12/2011		30/06/2011
Operating result (Total I-II)	GG	265 869	1051,8%	23 082	-86,6%	172 851

2 - Financial result (V - VI)

		31/12/2012		31/12/2011		30/06/2011
Financial result (Total V-VI)	GV	-85 317	-84,8%	-46 156	52,0%	-96 211

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

		31/12/2012		31/12/2011		30/06/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	180 552	882,5%	-23 074	-130,1%	76 640

4 - Extraordinary result (VII-VIII)

		31/12/2012		31/12/2011		30/06/2011
Extraordinary result (Total VII-VIII)	HI	7 885	-69,6%	25 922	-61,8%	67 834

Profit or loss

		31/12/2012		31/12/2011		30/06/2011
Profit or loss	HN	116 165	10942,3%	1 052	-99,0%	101 646

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		30/06/2011
Total Income (I+III+V+VII)	HL	7 833 746	168,3%	2 919 955	-58,2%	6 987 038

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

		31/12/2012		31/12/2011		30/06/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	7 717 579	164,4%	2 918 902	-57,6%	6 885 391

Operating income (I)

		31/12/2012		31/12/2011		30/06/2011
Total operating income (Total I)	FR	7 808 343	170,1%	2 891 048	-56,2%	6 600 450

Operating income (details)

		31/12/2012		31/12/2011		30/06/2011
Sale of goods for resale	FC	7 752 052	171,0%	2 861 053	-56,3%	6 554 095
France	FA	3 689 331	147,6%	1 490 303	-59,4%	3 668 138
Export	FB	4 062 721	196,4%	1 370 750	-52,5%	2 885 957
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	25 185	93,4%	13 024	-36,2%	20 412
France	FG	10 837	51,8%	7 141	-57,3%	16 728
Export	FH	14 348	269,5%	3 883	5,4%	3 684
Net turnover	FL	7 777 237	170,6%	2 874 077	-56,3%	6 574 508
France	FJ	3 700 168	147,1%	1 497 444	-59,4%	3 684 866
Export	FK	4 077 069	196,6%	1 374 633	-52,4%	2 889 642
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	30 855	82,0%	16 949	-34,3%	25 815
Other income	FQ	251	1040,9%	22	-82,5%	126

Operating charges (II)

		31/12/2012		31/12/2011		30/06/2011
Total operating charges (Total II)	GF	7 542 474	163,0%	2 867 966	-55,4%	6 427 598

Exploitation charges

		31/12/2012		31/12/2011		30/06/2011
Purchase of goods for resale	FS	4 597 582	208,2%	1 491 924	-63,3%	4 068 600
Change in stocks of goods for resale	FT	-549 051	-1038,2%	-48 237	96,3%	-1 310 028
Purchase of raw materials	FU	2 360 315	194,1%	802 546	-53,6%	1 730 127
Change in stocks of raw materials	FV	0	0%	0	0%	702 203
Other external purchases and charges	FW	441 962	70,0%	259 983	-52,6%	548 677
Tax, duty and similar payments	FX	43 431	74,3%	24 916	-38,2%	40 336
Payroll	FY	368 691	91,4%	192 617	-50,6%	389 898
Social security costs	FZ	149 110	84,0%	81 042	-47,9%	155 685

Depreciation

		31/12/2012		31/12/2011		30/06/2011
Depreciation of fixed assets	GA	93 882	101,2%	46 662	-47,8%	89 388
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	32 764	199,7%	10 931	-6,3%	11 660
Provisions for risks and charges	GD	0	0%	5 000	0%	0

Other charges

		31/12/2012		31/12/2011		30/06/2011
Other charges	GE	3 788	554,2%	579	-44,8%	1 049

Operating charges (III-IV)

		31/12/2012		31/12/2011		30/06/2011
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

		31/12/2012		31/12/2011		30/06/2011
Total financial income (Total V)	GP	0	0%	0	0%	0
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	0	0%	0	0%	0
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%	0

Financial Charge (VI)

		31/12/2012		31/12/2011		30/06/2011
Total financial charge (Total VI)	GU	85 317	84,8%	46 156	-52,0%	96 211
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	85 317	84,8%	46 156	-52,0%	96 211
Exchange losses	GS	0	0%	0	0%	0
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2012		31/12/2011		30/06/2011
Total extraordinary income (Total VII)	HD	25 403	-12,1%	28 903	-92,5%	386 587
Extraordinary operating income	HA	0	0%	1 165	-98,2%	63 607
Extraordinary income from capital transactions	HB	20 903	0%	0	0%	259 115
Released provisions and transferred charges	HC	4 500	-83,8%	27 738	-56,6%	63 863

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		30/06/2011
Total extraordinary charges (Total VIII)	HH	17 518	487,7%	2 981	-99,1%	318 752
Extraordinary operating charges	HE	0	0%	0	0%	4 536
Extraordinary charges from capital transactions	HF	17 518	487,7%	2 981	-99,1%	314 216
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2012		31/12/2011		30/06/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2012		31/12/2011		30/06/2011
Tax on profits (Total X)	HK	72 270	3919,5%	1 798	-95,8%	42 828

References

		31/12/2012		31/12/2011		30/06/2011
Of which equipment leases	HP	0	0%	9 689	0%	9 689
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	6 040	-36,7%	9 537
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2012		31/12/2011		30/06/2011
Gross value at begin of period	OG	0	0%	0	0%	0
Increases due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreases by budget item transfer	OK1	0	0%	0	0%	0
Decreases by transfers	OK2	48 041	-14,0%	55 872	-87,2%	437 056
Gross value at the end of period	OL	1 806 824	4,3%	1 732 596	-0,7%	1 744 956

Research and development Charge (Total I)

		31/12/2012		31/12/2011		30/06/2011
Gross value at begin of period	CZ	0	0%	0	0%	0
Increases due to revaluation	KB	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreases by budget item transfer	C01	0	0%	0	0%	0
Decreases by transfers	C02	0	0%	0	0%	0
Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

		31/12/2012		31/12/2011		30/06/2011
Gross value at begin of period	KD	37 172	-55,5%	83 547	-72,3%	301 835
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	0	0%	0	0%	31 712
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	46 375	-81,4%	250 000
Gross value at the end of period	LW	37 172	0%	37 172	-55,5%	83 547

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		30/06/2011
Gross value at begin of period	LN	717 921	3,0%	697 141	13,9%	612 094
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	121 245	300,5%	30 276	-85,1%	202 986
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	45 844	382,7%	9 497	-91,9%	117 940
Gross value at the end of period	NH	793 322	10,5%	717 922	3,0%	697 140

Financial assets (Total IV)

		31/12/2012		31/12/2011		30/06/2011
Gross value at begin of period	LQ	977 500	1,4%	964 264	30,3%	740 252
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	1 023	-92,3%	13 236	-95,5%	293 127
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	2 196	0%	0	0%	69 114
Gross value at the end of period	NK	976 327	-0,1%	977 500	1,4%	964 265

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

			31/12/2012		31/12/2011		30/06/2011
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreases		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2012		31/12/2011		30/06/2011
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreases		PC	0	0%	0	0%	0
	Decreases by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2012		31/12/2011		30/06/2011
	Reserve for depreciation value at begin of period	PE	14 676	-70,8%	50 211	33,5%	37 599
Increases		PF	12 390	44,9%	8 548	-32,2%	12 611
Decreases		PG	0	0%	44 083	0%	0
	Decreases by budget item transfer	PH	27 066	84,4%	14 676	-70,8%	50 210

Total fixed assets amortisation (Total III)

			31/12/2012		31/12/2011		30/06/2011
	Reserve for depreciation value at begin of period	QU	289 954	11,2%	260 649	8,9%	239 326
Increases		QV	81 490	113,8%	38 113	-50,4%	76 775
Decreases		QW	28 326	221,6%	8 807	-84,1%	55 455
	Decreases by budget item transfer	QX	343 118	18,3%	289 955	11,2%	260 646

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		30/06/2011
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreases by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2012		31/12/2011		30/06/2011
	Net value at beginning of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2012		31/12/2011		30/06/2011
	Value at beginning of period	7C	82 020	-27,6%	113 250	139,1%	47 374
Increases		UB	32 997	-41,9%	56 754	-34,4%	86 541
Decreases		UC	56 141	-36,2%	87 984	325,8%	20 665
	Value at the end of period	UD	58 876	-28,2%	82 020	-27,6%	113 250

Includes Total allocations

Operating	UE	32 764	105,7%	15 931	-81,6%	86 541
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	10 931	0,2%	10 909	-33,0%	16 278
Financial	UH	0	0%	0	0%	0
Exceptional	UK	4 387	100,0%	2 193	-50,0%	4 387

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		30/06/2011
	Value at beginning 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)

			31/12/2012		31/12/2011		30/06/2011
	Value at beginning of period	5Z	69 954	-30,9%	101 205	229,5%	30 713
Increases		TV	232	-99,5%	45 823	-38,8%	74 880
Decreases		TW	45 210	-41,3%	77 073	1656,8%	4 387
	Value at the end of period	TX	24 976	-64,3%	69 955	-30,9%	101 206

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		30/06/2011
	Value at beginning of period	7B	12 065	0,2%	12 043	-27,7%	16 660
Increases		TY	32 764	199,8%	10 930	-6,3%	11 660
Decreases		TZ	10 930	0,2%	10 909	-33,0%	16 277
	Value at the end of period	UA	33 899	181,0%	12 064	0,2%	12 043

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

		31/12/2012		31/12/2011		30/06/2011
Gross value	VT	2 672 456	20,9%	2 210 353	6,2%	2 081 838
1 year at most	VU	1 924 890	31,7%	1 461 614	8,6%	1 346 336
More than one year	VV	747 566	-0,2%	748 739	1,8%	735 502

State of loans

		31/12/2012		31/12/2011		30/06/2011
Claims related to holdings (gross)	UL	722 451	-0,3%	724 648	1,7%	712 743
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	25 114	4,3%	24 090	5,8%	22 759
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		30/06/2011
Customers doubtful or disputed	VA	34 363	1299,7%	2 455	4,7%	2 344
Other claims customer	UX	1 831 032	42,9%	1 281 267	5,2%	1 217 646
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%	19 616	0%	0
Value added tax	VB	1 154	-93,4%	17 564	760,1%	2 042
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	16 695	-86,3%	122 296	48,7%	82 270

Prepaid

		31/12/2012		31/12/2011		30/06/2011
Prepaid	VS	41 644	126,2%	18 412	-56,2%	42 032

State Debt

			31/12/2012		31/12/2011		30/06/2011
	Total debt (gross)	VY	4 029 651	26,6%	3 182 896	4,6%	3 043 057
1 year at most		VZ2	3 903 069	27,3%	3 066 419	23,6%	2 481 388
More than 1 year and 5 years at most		VZ3	126 582	8,7%	116 477	-79,3%	561 669
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2012		31/12/2011		30/06/2011
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	90 000	-78,1%	411 549	17,1%	351 580
1 year at most		VG2	90 000	-78,1%	411 549	17,1%	351 580
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	190 342	17,1%	162 492	6,9%	151 977
1 year at most		VH2	63 760	38,6%	46 015	14,2%	40 308
More than 1 year and 5 years at most		VH3	126 582	8,7%	116 477	4,3%	111 669
	Loans and various financial liabilities (gross)	8A1	221	8,3%	204	14,6%	178
1 year at most		8A2	221	8,3%	204	14,6%	178
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	3 040 635	54,2%	1 972 005	6,5%	1 852 426
1 year at most		8B2	3 040 635	54,2%	1 972 005	6,5%	1 852 426
More than 1 year and 5 years at most		8B3	3 040 635	54,2%	1 972 005	6,5%	1 852 426
	Personnel and associated accounts (gross)	8C1	42 946	23,5%	34 767	-22,7%	44 952
1 year at most		8C2	42 946	23,5%	34 767	-22,7%	44 952
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	66 951	-7,1%	72 058	1,7%	70 819
1 year at most		8D2	66 951	-7,1%	72 058	1,7%	70 819
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	68 674	0%	0	0%	35 664
1 year at most		8E2	68 674	0%	0	0%	35 664
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	31 911	4394,5%	710	-97,3%	26 452
1 year at most		VW2	31 911	4394,5%	710	-97,3%	26 452
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	18 380	18,8%	15 476	119,9%	7 037
1 year at most		VQ2	18 380	18,8%	15 476	119,9%	7 037
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	456 305	-0,7%	459 565	0,0%	459 535
1 year at most		VI2	456 305	-0,7%	459 565	4719,8%	9 535
More than 1 year and 5 years at most		VI3	0	0%	0	0%	450 000
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	23 283	-56,9%	54 066	27,4%	42 433
1 year at most		8K2	23 283	-56,9%	54 066	27,4%	42 433
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		30/06/2011
Loans made during the period	VJ	82 300	165,5%	31 000	0%	0
Debt repaid during the period	VK	54 450	165,8%	20 485	-47,9%	39 290

Table allocation results and other information
Dividends distributed

		31/12/2012		31/12/2011		30/06/2011
Dividends	ZE	100 000	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		30/06/2011
Commitments leasing furniture	YQ	93 185	22,7%	75 958	-11,3%	85 594
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	953 267	0%	0	0%	723 557

Other charges Externes

		31/12/2012		31/12/2011		30/06/2011
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	99 102	102,1%	49 032	-67,2%	149 299
Staff outside the company	YU	1 594	-25,6%	2 142	-66,0%	6 308
Remuneration intermediaries and fees (excluding fees)	SS	55 837	137,5%	23 514	-23,1%	30 561
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	285 427	54,0%	185 294	-48,9%	362 506
Total Other purchases and external	ZJ	441 960	1673,8%	259 982	-52,6%	548 674

Taxes and Fees

		31/12/2012		31/12/2011		30/06/2011
Business tax	YW	19 184	35,1%	14 205	-12,1%	16 162
Other taxes and payments assimilated	9Z	24 247	126,4%	10 711	-55,7%	24 174
Total taxes and fees	YX	43 431	74,3%	24 916	-38,2%	40 336

VAT

		31/12/2012		31/12/2011		30/06/2011
Amount VAT collected	YY	724 515	146,8%	293 516	-59,4%	723 028
Total VAT on goods and services	YZ	413 699	46,7%	281 963	-53,1%	601 567

Average number of employees

		31/12/2012		31/12/2011		30/06/2011
Average number of employees	YP	08	-11,1%	09	0%	09

Groups and Shareholders

		31/12/2012		31/12/2011		30/06/2011
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Fixed Asset Financing	1,70	-14,1%	1,98	13,8%	1,74	1,94	-12,4%
Global Debt	187 days	-53,1%	399 days	138,9%	167 days	144 days	29,9%
Working Capital Fund overall net	59 days	-72,2%	212 days	198,6%	71 days	50 days	18,0%
Financial independence	724,05%	106,4%	350,79%	-12,2%	399,68%	313,17%	131,2%
More ratios
Solvability	32,90%	-12,6%	37,63%	-3,2%	38,88%	26,21%	25,5%
Capacity debt futures	1320,13%	200,0%	440,08%	-14,3%	513,57%	991,78%	33,1%
Coverage of current assets by net working capital overall	27,26%	-38,8%	44,56%	24,9%	35,69%	32,85%	-17,0%
General Liquidity	0,49	2,1%	0,48	-11,1%	0,54	0,39	25,6%
Restricted Liquidity	0,51	-7,3%	0,55	-14,1%	0,64	0,72	-29,2%

Management or rotation

	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Need background in operating working capital	57 days	-67,6%	176 days	151,4%	70 days	12 days	375,0%
Treasury	0 days	0%	28 days	566,7%	-6 days	7 days	0%
Inventory turnover of goods	238 days	-55,0%	529 days	95,2%	271 days	97 days	145,4%
Average length of credit granted to customers	119 days	-18,5%	146 days	52,1%	96 days	31 days	283,9%
Average length of credit obtained suppliers	151 days	-40,8%	255 days	142,9%	105 days	60 days	151,7%
More ratios
Inventory turnover of raw materials in industrial enterprises	0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	days	-	days	1669 days	-
Rotation tangible assets	980,34%	144,9%	400,33%	-57,6%	943,07%	1940,32%	-49,5%

Profitability of the business

	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Margin trading	47,62%	-3,4%	49,32%	-14,6%	57,73	32,81%	45,1%
Profitability of the business	4,70	95,0%	2,41	-36,4%	3,79	2,55%	84,3%
Net profit	1,49%	3625,0%	0,04%	-97,4%	1,55%	1,40%	6,4%
More ratios
Growth rate of turnover (excluding VAT)	170,60%	403,1%	-56,28%	-268,6%	-15,27%	-0,82%	20904,9%
Rates integration	11,91%	-7,0%	12,80%	0,8%	12,70%	18,45%	-35,4%
Rate leasing furniture	0%	0%	0,34%	126,7%	0,15%	0%	0%
Work Factor	55,89%	-24,9%	74,39%	13,9%	65,34%	70,68%	-20,9%
Weight interests	1,10	-31,7%	1,61%	10,3%	1,46%	0,21%	423,8%

Return on capital

	31/12/2012		31/12/2011		30/06/2011	Sector Median 2012
Cash flow from the overall profitability	2,46%	87,8%	1,31%	-61,8%	3,43%	2,01%	22,4%
Rates of economic profitability	13%	550,0%	2%	-75,0%	8%	12%	8,3%
Financial profitability	2029825%	0,8%	2013660%	0,1%	2012607%	32721%	6103,4%
Return on investment	7,28%	369,7%	1,55%	-76,7%	6,65%	9,90%	-26,5%

Display parameter
Currency					Euro			Kilo Euro
Comparison mode					Average			Median
Sales Agents Management	31/12/2012		31/12/2011			30/06/2011	Sector Median 2012
Turnover	7 777 237	170,6%	2 874 077	-56,3%		6 574 508	442 704 €		1656,8%

Sales of goods	7 752 052	171,0%	2 861 053	-56,3%	6 554 095
- Purchase of goods	4 597 582	208,2%	1 491 924	-63,3%	4 068 600
+/- Stock of goods variation	-549 051	-1038,2%	-48 237	96,3%	-1 310 028
Trading margin	3 703 521 €	161,3%	1 417 366 €	-62,7%	3 795 523 €	123 472 €	2899,5%
	47,62 % CA	-3,4%	49,32 % CA	-14,6%	57,73 % CA	33,66 % CA	41,5%

Sale of goods produced	25 185	93,4%	13 024	-36,2%	20 412
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	25 185 €	93,4%	13 024 €	-36,2%	20 412 €	2 704,50 €	831,2%
	0,32 % CA	-28,9%	0,45 % CA	45,2%	0,31 % CA	1,21 % CA	-73,6%

Trading margin	3 703 521	161,3%	1 417 366	-62,7%	3 795 523	123 472	2899,5%
+ Period Production	25 185	93,4%	13 024	-36,2%	20 412	2 704,50	831,2%
- Purchase of raw materials	2 360 315	194,1%	802 546	-53,6%	1 730 127
+/- Change in stocks of raw materiels	0	0%	0	0%	702 203
- Other external purchases and charges	441 962	70,0%	259 983	-52,6%	548 677
Added value	926 429 €	151,8%	367 861 €	-55,9%	834 928 €	87 446,50 €	959,4%
	11,91 % CA	-7,0%	12,80 % CA	0,8%	12,70 % CA	18,45 % CA	-35,4%

Added value	926 429 €	151,8%	367 861 €	-55,9%	834 928 €	87 446,50 €	959,4%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	43 431	74,3%	24 916	-38,2%	40 336
- Personal charges	517 801	89,2%	273 659	-49,8%	545 583
Gross operating surplus	365 197 €	427,1%	69 286 €	-72,2%	249 009 €	10 080,50 €	3522,8%
	4,70 % CA	95,0%	2,41 % CA	-36,4%	3,79 % CA	2,55 % CA	84,3%

Gross operating surplus	365 197 €	427,1%	69 286 €	-72,2%	249 009 €	10 080,50 €	3522,8%
+ Release of reserves and provisions	30 855	82,0%	16 949	-34,3%	25 815
+ Other operating income	251	1040,9%	22	-82,5%	126
- Depreciation/Amortisation	126 646	102,3%	62 593	-38,1%	101 048
- Other charges	3 788	554,2%	579	-44,8%	1 049
Operating result	265 869 €	1051,7%	23 085 €	-86,6%	172 853 €	7 626,50 €	3386,1%
	3,42 % CA	327,5%	0,80 % CA	-69,6%	2,63 % CA	1,91 % CA	79,1%

Operating result	265 869 €	1051,7%	23 085 €	-86,6%	172 853 €	7 626,50 €	3386,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	0	0%	0	0%	0
- Financial charges	85 317	84,8%	46 156	-52,0%	96 211
Pre-tax result	180 552 €	882,6%	-23 071 €	-130,1%	76 642 €	6 333,50 €	2750,7%
	2,32 % CA	390,0%	-0,80 % CA	-168,4%	1,17 % CA	1,54 % CA	50,6%

Extraordinary income	25 403	-12,1%	28 903	-92,5%	386 587	0	0%
- Extraordinary charges	17 518	487,7%	2 981	-99,1%	318 752
Extraordinary result	7 885 €	-69,6%	25 922 €	-61,8%	67 835 €	0 €	0%
	0,10 % CA	-88,9%	0,90 % CA	-12,6%	1 % CA	0 % CA	0%

Pre-tax result	180 552 €	882,6%	-23 071 €	-130,1%	76 642 €	6 333,50 €	2750,7%
Extraordinary result	7 885 €	-69,6%	25 922 €	-61,8%	67 835 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	72 270	3919,5%	1 798	-95,8%	42 828
Net result	116 167 €	10932,0%	1 053 €	-99,0%	101 649 €	6 409 €	1712,6%
	1,49 % CA	3625,0%	0,04 % CA	-97,4%	1,55 % CA	1,40 % CA	6,4%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Wholesale (intercompany trade) Clothing and footwear (4642Z)
RCS Registration	RCS Frejus 9 383 131 265	Share capital	1,000,000 Euros
Registration Court	Frejus (83)	Legal form	Simplified joint stock company
Court Registry Number	19 9 1B40302	EUR VAT Number	FR67383131265
Incorporation Date	10/1991	Formation Date	09/1991
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Trade name	AMBIGU EFFECTIF
Activity (APE)	Wholesale (intercompany trade) Clothing and footwear (4642Z)	Business Pages FT®	VETEMENT HOMME FABRICATION
Postal Address	COGIMEX FRANCE SA AMBIGU EFFECTIF FULL-BLUE RTE DU PLAN DE LA TOUR 83120 SAINTE MAXIME	Trading Address	ROUTE DU PLAN DE LA TOUR 83120 SAINTE MAXIME
Telephone	04 94 49 21 33
Fax

Type	Head office	Status	Economically active
Formation Date	05/1994	Reason for formation	Formation
Closure Date		Reason for closure	Deleted
Reactivation Date	09/2000	Production Role
Activity Nature	-	Activity Location	Store
Location surface	From 300 m² to less than 400 m²	Seasonality

Department	Var (83)	Region	Côte d'Azur
District	1	Area	14
City	SAINTE MAXIME	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> COGIMEX FRANCE SA <<< - Wholesale (intercompany trade) Clothing and footwear (4642Z) in SAINTE MAXIME (83120)
Secondary establishments	>  COGIMEX FRANCE SA <<< - Wholesale (intercompany trade) Clothing and footwear (4642Z) in SAINTE MAXIME (83120)

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

6 to 9 employees

Company workforce

6 to 9 employees

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
27/08/2013	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FRÉJUS 12009 - 383131265 RCS. COGIMEX FRANCE. Form: Simplified joint stock company. Address: Road Map of the 83120 Tour Sainte-Maxime. Comments: Annual accounts and reports for the year ended: 31/12/2012.
01/10/2012	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FRÉJUS 13199 - 383131265 RCS. COGIMEX FRANCE. orm: Simplified joint stock company. Address: Road Map of the 83120 Tour Sainte-Maxime. Comments: Annual accounts and reports for the year ended : 31/12/2011.
31/01/2012	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FRÉJUS 12218 - 383131265 RCS. COGIMEX FRANCE. Form: Simplified joint stock company. Address: Road Map of the 83120 Tour Sainte-Maxime. Comments: Annual accounts and reports for the year ended: 30/06/2011.
18/01/2012	Bodacc B	Modification et mutation diverse
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FRÉJUS 2041 - 383 131 265 RCS Fréjus. COGIMEX FRANCE. Form: Simplified joint stock company. Directors: President: Jean-Jacques GROS, Director General Edouard: BIG Viviane, Nicole, born Julienne (e) BROWN Statutory Auditor: Charles Bottaccioli Alternate Auditor: GERONIMI Charles. Activity. Comments: Changes occurred in the administration.
21/02/2011	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FRÉJUS 13022 - 383131265 RCS. COGIMEX FRANCE. Forme : Société par actions simplifiée. Adresse : route du Plan de la Tour 83120 Sainte-Maxime. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2010.
27/08/2009	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE FREJUS 9511 - 383131265 RCS. COGIMEX FRANCE. Forme : Société par actions simplifiée. Adresse : route du Plan de la Tour 83120 Sainte-Maxime. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
14/10/2008	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE SAINT-TROPEZ 11061 - 383131265 RCS. COGIMEX FRANCE. Forme : Société par actions simplifiée. Adresse : route du Plan de la Tour 83120 Sainte-Maxime. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
06/11/2007	Bodacc C	Avis de dépôt des comptes
9966 - 383 131 265. RCS Saint-Tropez COGIMEX FRANCE. Forme: Société par actions simplifiée. Adresse du siège social: route du Plan de la Tour 83120 Sainte-Maxime. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
05/09/2006	Bodacc C	Avis de dépôt des comptes
5410 - RCS Saint-Tropez B 383 131 265. RC 91-B 302. COGIMEX FRANCE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: route du Plan de la tour,83120 Sainte-Maxime. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
31/08/2005	Bodacc C	Avis de dépôt des comptes
4740 - RCS Saint-Tropez B 383 131 265. RC 91-B 302. COGIMEX FRANCE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: route du Plan de la tour,83120 Sainte-Maxime. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
22/06/2005	Bodacc B	Modifications et mutations diverses
3079 - RCS Saint-Tropez B 383 131 265. RC 91-B 302. COGIMEX FRANCE. Forme : S.A.S. Adresse du siège social : route du Plan-de-la-Tour,, 83120 Commentaires : modification survenue sur l'administration. Administration : président : GROS (Jean-Jacques, Edouard) (Nom d'usage : GROS). Commissaire aux comptes titulaire : BOTTACCIOLI (Charles). Commissaire aux comptes suppléant : MAYAN (Alain) (Nom d'usage : MAYAN). Directeur général : BRUN (Viviane, Nicole, Julienne) (Nom d'usage : GROS). Date d'effet : 10 décembre 2004.
16/02/2005	Bodacc B	Modifications et mutations diverses
1980 - RCS Saint-Tropez B 383 131 265. RC 91-B 302. COGIMEX FRANCE. Forme : S.A.S. Adresse du siège social : route du Plan-de-la-Tour,, 83120 Commentaires : modification survenue sur la forme juridique. Date d'effet : 10 décembre 2004.
31/10/2003	Bodacc B	Modifications et mutations diverses
RCS Saint-Tropez B 383131265 RC 91-B 302 COGIMEX FRANCE. Forme : S.A. Capital : 1 000 000 d'euros. Activité Import-export, buy, wholesale, semi-wholesale and retail ready-to-wear, shoes, accessories and all related activities. Headquarters Address: Road Plan-de-la-Tour, 83120 Sainte-Maxime. Comments: changes occurred in the capital (increase), the activity and the administration. Directors: Chairman of the Board of Directors and Director: WHOLESALE (Jean-Jacques Edouard) (use Name: BIG). Administrators: BAJON (Alexandra, Peggy, Sophie) (use Name: BAJON) BROWN (Viviane, Nicole, Julienne) (use Name: BIG). Statutory Auditors: Bottaccioli (Charles) (use Name: Bottaccioli). Alternate Auditor: MAYAN (Alain) (use Name: MAYAN). Effective Date: September 30, 2003.
07/06/2001	Bodacc B	Modifications et mutations diverses
RCS Saint-Tropez B 383131265 RC 91-B 302 COGIMEX FRANCE. Form: S.A. Capital: 500 000. Headquarters Address: Road Plan-de-la-Tour, 83120 Sainte-Maxime. Comments: changes occurred in the capital (increase and euro conversion). Effective Date: March 30, 2001.
02/11/2000	Bodacc A	Création d'établissement
RCS Paris B 424294841 RC AP-B 1365 MAILLEVA. Forme : S.A.R.L. Capital : 60 000 F. Adresse du siège social : 112 rue d' Aboukir, 75002 Paris Etablissement principal: Activité : fabrication, vente de vetements, de confection pour femmes, de chaussures et de sacs à main. Adresse : 112 rue d'Aboukir, 75002 Paris Etablissement principal acquis par achat au prix stipulé de 600 000 F. Date d'effet : 26 septembre 2000. Précédent propriétaire : COGIMEX FRANCE S.A.R.L. RCS B 383131265 Publication légale: Les Affiches parisiennes du 13 octobre 2000. Oppositions : Société Cogimex France, route du Plan-de-la-Tour, 83120 Sainte- Maxime et au fonds pour la validité.
20/10/1999	Bodacc B	Modifications et mutations diverses
RCS Saint-Tropez B 383131265 RC 91-B 302 COGIMEX FRANCE S.A.R.L. Forme : S.A. Capital : 2 000 000 de F. Adresse du siège social : route du Plan-de-la-Tour, 83120 Sainte-Maxime. Commentaires : modification survenue sur la forme juridique, le capital (augmentation) et l'administration. Administration : président du conseil d'administration et administrateur : GROS (Jean-Jacques, Edouard) ( Nom d'usage : GROS). Directeur général et administrateur : BRUN (Viviane, Nicole, Julienne) ( Nom d'usage : GROS). Administrateur : BAJON (Alexandra, Peggy, Sophie) ( Nom d'usage : BAJON). Commissaire aux comptes titulaire : BOTTACCIOLI ( Charles) ( Nom d'usage : BOTTACCIOLI). Commissaire aux comptes suppléant : MAYAN (Alain) ( Nom d'usage : MAYAN). Date d'effet : 10 septembre 1999.
25/09/1998	Bodacc A	Vente et cession
RCS *. RCS non encore inscrit. COGIMEX FRANCE. Forme : S.A.R.L. Capital : 50 000 F. Adresse du siège social : Plan-de-la- Tour 83120 Sainte-Maxime Etablissement principal: Activité : tout commerce de textiles. Adresse : 112, rue d'Aboukir 75002 Paris Droit au bail dépendant de l'établissement principal acquis par cession au prix stipulé de 600 000 F. Date d'effet : 1er février 1998. Précédent propriétaire : : Mme BENJUYA, née LEVY Nelly. RCS RCS 381 097 716 Publication légale: La Vie Judiciaire du 11 février 1998. Oppositions : Séquestre Juridique de l'Ordre des Avocats, 11, place Dauphine, 75001 Paris.
27/01/1998	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Saint-Tropez B 383 131 265 RC 91-B 302 COGIMEX FRANCE S.A.R.L. Forme : S.A.R.L. Capital : 500 000 F. Adresse : Z.A. Lou Camp Ferrat, route du Plan-de-la-Tour 83120 Sainte-Maxime Nouvelle situation du siège social. Adresse : route du Plan- de-la-Tour 83120 Sainte-Maxime Etablissement principal: Adresse : Z.A. Lou Camp Ferrat, route du Plan-de-la- Tour 83120 Sainte-Maxime ETABLISSEMENT PRINCIPAL nouvelle situation. Adresse : route du Plan-de-la-Tour 83120 Sainte- Maxime. Date d'effet : 1er octobre 1997.
10/12/1997	Bodacc B	Modifications et mutations diverses
RCS Saint-Tropez B 383 131 265 RC 91-B 302 COGIMEX FRANCE S.A.R.L. Forme : S.A. R.L. Capital : 500 000 F (fixe). Adresse du siège social : Z.A. Dou-Camp-Ferrat, route du Plan-de-la-Tour, 83120 Sainte- Maxime. Administration : ancien gérant : GROS (Jean) nouvelle gérante : Mme GROS (Viviane). Date d'effet : 1er octobre 1997.
28/11/1995	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Saint-Tropez B 383 131 265 RC 91-B 302 COGIMEX FRANCE S.A.R.L. Forme : S.A.R.L. Capital : 50 000 F (fixe). Adresse : Z.A. Dou Camp Ferrat, route du Plan de la Tour, 83120 Sainte-Maxime Nouvelle situation du siège social. Capital : 500 000 F. Date d'effet : 22 septembre 1995.

Company events history

Date	Description
20/10/2013	Update Rating
15/10/2013	Update Rating
15/10/2013	Update Limit
06/09/2013	New subsidiarie(s) detected
06/09/2013	New parent detected
27/08/2013	Bodacc C : Deposit accounts notice
23/08/2013	Update Limit
23/08/2013	Update Rating
23/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
09/11/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/10/2012	Bodacc C : Deposit accounts notice
31/01/2012	Bodacc C : Deposit accounts notice
27/01/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/01/2012	Bodacc B: Various editing or changing
02/01/2012	Updated articles of association
02/01/2012	Minutes of general meeting of shareholders
02/01/2012	New closing date
02/01/2012	New auditor
31/12/2011	New accounts available
30/06/2011	New accounts available
21/02/2011	Bodacc C : Deposit accounts notice
23/11/2010	Collection of preferential rights activated for this company
30/06/2010	New accounts available
23/04/2010	Modification to Establishment Address or Identifier
23/04/2010	Update of Company Workforce
30/12/2009	New closing date
30/12/2009	Minutes of general meeting of shareholders
30/12/2009	Updated articles of association
27/08/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
14/10/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
22/04/2005	Amendment
22/04/2005	Acte modificatif
22/04/2005	Minutes of general meeting of shareholders
22/04/2005	Private document
22/04/2005	Acte sous seing privé
22/04/2005	Modification du Conseil d'Administration
22/04/2005	PV d'Assemblée
20/01/2005	Updated articles of association
20/01/2005	Audit or Management Report
20/01/2005	Rapport des Commissaires ou du Gérant
20/01/2005	Acte modificatif
20/01/2005	Statuts mis à jour
20/01/2005	PV d'Assemblée
20/01/2005	Minutes of general meeting of shareholders
20/01/2005	Nomination/démission des organes de gestion
20/01/2005	Appointment/resignation of company officers
20/01/2005	Private document
20/01/2005	Acte sous seing privé
20/01/2005	Changement de Forme Juridique sans changement de catégorie
20/01/2005	New legal form – no new category
31/12/2004	New accounts available
15/10/2004	New closing date
15/10/2004	Acte sous seing privé
15/10/2004	Private document
15/10/2004	PV d'Assemblée
15/10/2004	Statuts mis à jour
15/10/2004	Updated articles of association
15/10/2004	Acte modificatif
15/10/2004	Changement de date de clôture
15/10/2004	Minutes of general meeting of shareholders
14/10/2003	Augmentation de Capital
14/10/2003	Modification de l'objet social
14/10/2003	Modification du Conseil d'Administration
14/10/2003	Acte sous seing privé
14/10/2003	Nomination/démission des organes de gestion
14/10/2003	PV d'Assemblée
14/10/2003	PV du Conseil d'Administration
14/10/2003	Statuts mis à jour
14/10/2003	Acte modificatif
30/09/2003	New accounts available
16/05/2001	Acte sous seing privé
16/05/2001	Statuts mis à jour
16/05/2001	Acte modificatif
16/05/2001	PV d'Assemblée
16/05/2001	Conversion du Capital Social en Euros
16/05/2001	Augmentation de Capital
28/09/1999	Augmentation de Capital
28/09/1999	Nomination/démission des organes de gestion
28/09/1999	PV d'Assemblée
28/09/1999	Acte modificatif
28/09/1999	Statuts mis à jour
28/09/1999	Changement de Forme Juridique sans changement de catégorie
28/09/1999	Acte sous seing privé
28/09/1999	PV du Conseil d'Administration
15/09/1999	Acte sous seing privé
15/09/1999	Cession de parts
15/09/1999	Acte modificatif
15/09/1999	Statuts mis à jour
15/09/1999	PV d'Assemblée
11/08/1999	Rapport des Commissaires ou du Gérant
11/08/1999	Acte modificatif
11/08/1999	Acte sous seing privé
02/12/1997	Acte sous seing privé
02/12/1997	Transfert du Siège dans le ressort du Tribunal de Commerce
02/12/1997	PV d'Assemblée
02/12/1997	Statuts mis à jour
02/12/1997	Acte modificatif
21/10/1997	Nomination/démission des organes de gestion
21/10/1997	Acte sous seing privé
21/10/1997	Changement de Gérant
21/10/1997	PV d'Assemblée
21/10/1997	Acte modificatif
21/10/1997	Rapport des Commissaires ou du Gérant
16/10/1995	PV d'Assemblée
16/10/1995	Acte modificatif
16/10/1995	Augmentation de Capital
16/10/1995	Statuts mis à jour
25/08/1994	Statuts mis à jour
25/08/1994	Acte modificatif
25/08/1994	Transfert du Siège dans le ressort du Tribunal de Commerce
25/08/1994	Acte sous seing privé
25/08/1994	PV d'Assemblée
29/01/1993	Transfert du Siège dans le ressort du Tribunal de Commerce
29/01/1993	PV d'Assemblée
29/01/1993	Statuts mis à jour
29/01/1993	Acte modificatif
29/01/1993	Déclaration de conformité

Establishment events history

Date	Description
07/09/2013	Update Rating
23/08/2013	Update Limit
23/08/2013	Update Rating
09/11/2012	Update Limit
09/11/2012	Update Rating
05/11/2012	Update of phone numbers
27/01/2012	Update Limit
27/01/2012	Update Rating
25/10/2011	Update Rating
21/07/2011	Update Rating
02/02/2011	Update Rating
02/02/2011	Update Limit
26/09/2010	Update Rating
23/06/2010	Update of phone numbers
23/04/2010	Modification of Head office Identification
23/04/2010	Update of Establishment Address
21/01/2010	Update of phone numbers
30/12/2009	Update Rating
25/08/2009	Update Rating
25/08/2009	Update Limit
08/10/2008	Update Rating
08/10/2008	Update Limit
27/09/2008	Update Rating
16/12/2007	Update Limit
10/12/2007	Update Limit
09/12/2007	Update Limit
11/09/2007	Update Limit
11/09/2007	Update Rating

NOTES & COMMENTS

Commentary

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

	The liquidity acid test is more than 65%
	The pre-tax profit is more than 25,000€
	The shareholder's equity is more than 250,000€
	The return on total assets employed is positive
	The tangible fixed assets are 450,204 €
	Industry code with low risk rating
	The company is 22 years old
	The ratio total assets to total liabilities is 1,52
	The debtor days are 89.21
	Region code with high risk rating
	The decrease of shareholder's equity over the past two years is more than 25%
	The sales to current assets ratio is 1,67
	The decrease of the current ratio over the past two years is more than 20

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.52
UK Pound	1	Rs.101.48
Euro	1	Rs.84.11

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.