MIRA INFORM REPORT

Report Date :

29.01.2014

IDENTIFICATION DETAILS

Name :	SOCIETE GRANIMOND
Registered Office :	24 Pl Theodore Paque, BP N°108 Saint Avold, 57506 St Avold Cedex
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	March, 1981
Legal Form :	Limited Liability Company
Line of Business :	Wholesale of wood and construction materials
No. of Employees :	10 to 19 employees

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

SOCIETE GRANIMOND

SIRET

321 302 861 00034

Personal comment

Company summary

		EUR VAT Number	FR01321302861
Activity (APE)	Wholesale (B2B) of wood and construction materials (4673A)	Legal form	Limited Liability Company
Phone	03 87 91 11 12	RCS Registration	RCS Sarreguemines 8 321 302 861
Fax	03 87 91 27 27	Share capital	110,000 Euros
Address	SOCIETE GRANIMOND 24 PL THEODORE PAQUE BP N°108 SAINT AVOLD 57506 ST AVOLD CEDEX	Incorporated Date	03/1981
Nationality	France	Status	Economically active

Company details

Activity (APE)	Wholesale (B2B) of wood and construction materials (4673A)
RCS Registration	RCS Sarreguemines 8 321 302 861	Share capital	110,000 Euros
Registration Court	Sarreguemines (57)	Legal form	Limited Liability Company
Court Registry Number	19 8 1B00037	EUR VAT Number	FR01321302861
Incorporation Date	03/1981	Formation Date	03/1981
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Wholesale (B2B) of wood and construction materials (4673A)	Business Pages FT®	MARBRES, GRANITS ET PIERRES NATURELLES
Postal Address	SOCIETE GRANIMOND 24 PL THEODORE PAQUE BP N°108 SAINT AVOLD 57506 ST AVOLD CEDEX	Trading Address	24 PLACE THEODORE PAQUE 57500 SAINT AVOLD
Telephone	03 87 91 11 12
Fax	03 87 91 27 27

Type	Head office	Status	Economically active
Formation Date	07/1991	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Store
Location surface	From 300 m² to less than 400 m²	Seasonality

Department	Moselle (57)	Region	Lorraine
District	3	Area	96
City	SAINT AVOLD	Size of urban area

Other establishments

Branches	2 branch entities in this company
tHead office
Secondary establishments	>  SOCIETE GRANIMOND  - Commerce de gros (commerce interentreprises) de bois et de matériaux de construction (4673A)  in LAMENTIN  (97232) >  SOCIETE GRANIMOND  - Commerce de gros (commerce interentreprises) de bois et de matériaux de construction (4673A)  in CANNES  (06400) >  SOCIETE GRANIMOND  - Commerce de gros (commerce interentreprises) de bois et de matériaux de construction (4673A)  in VALLAURIS  (06220) >  SOCIETE GRANIMOND  - Commerce de gros (commerce interentreprises) de bois et de matériaux de construction (4673A)  in CANNES  (06400)

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

DIRECTORS/MANAGEMENT

Directors

No identified director for this company

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

Judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
Groups and Shareholders	ZR	0	-	0	-	-

Shareholders

No Shareholders available for this company

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data

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GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group information available for the company

FINANCIAL INFORMATION

Trends
Profitability
Liquidity
Net worth

Accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	26/04/2012	24/10/2011	10/02/2010
Activity Code	4673A	4673A	4673A
Employees	0	0	0

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	811 442	8,3%	749 455	26,6%	591 949	44 317,50	1731,0%
- Intangible assets	302 993	-26,6%	412 789	36,2%	303 073	02	15149550,0%
- Tangible assets	497 107	52,8%	325 324	14,0%	285 334	22 950	2066,0%
- Financial assets	11 342	0%	11 342	220,2%	3 542	1 580	617,8%
Net current assets	2 102 190	-2,5%	2 155 705	45,7%	1 479 540	378 130	455,9%
- Stocks	998 807	-10,5%	1 115 500	68,2%	663 184	71 032,50	1306,1%
- Advanced payments	0	-2,5%	75 176	25470,1%	294	0	0%
- Receivables	498 652	18,2%	421 960	-23,0%	548 300	163 021	205,9%
- Securities and cash	604 731	11,4%	543 069	102,8%	267 762	41 264	1365,5%
- Prepaid expenses	-	-	-	-	-	150	-
Accounts of regularization	584	70,8%	342	-77,8%	1 544	0	0%
Total Assets	2 914 216	0,3%	2 905 502	40,2%	2 073 034	456 057,50	539,0%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	1 141 760	38,7%	823 454	40,9%	584 321	123 978,50	820,9%
Share capital	110 000	0%	110 000	44,3%	76 225	23 650	365,1%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	190 148	-34,5%	290 148	26,1%	230 148	0	0%
Liabilities	1 582 308	-11,7%	1 791 903	42,4%	1 258 564	287 236	450,9%
- Financial liabilities	541 447	-6,5%	579 383	42,8%	405 749	39 243,50	1279,7%
- Advanced payments received	0	0%	1 055	-22,1%	1 354	0	0%
- Trade account payables	681 713	-13,5%	788 243	24,3%	634 287	122 565,50	456,2%
- Tax and social liabilities	347 558	-16,1%	414 174	103,4%	203 590	60 608	473,5%
- Other debts and fixed assets liabilities	8 952	-1,1%	9 048	-33,4%	13 583	5 552,50	61,2%
Account regularization	2 638	0%	0	0%	0	0	0%
Total liabilities	2 914 216	0,3%	2 905 505	40,2%	2 073 034	456 057	539,0%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	5 783 002	2,2%	5 659 631	28,8%	4 393 323	880 680,50	556,7%
Net turnover	5 783 391	14,4%	5 057 357	20,8%	4 185 370	869 754,50	564,9%
- of which net export turnover	135 145	-2,1%	138 013	-49,2%	271 516	0	0%
Operating charges	5 161 753	-1,5%	5 240 225	29,2%	4 057 035	862 319,50	498,6%
Operating profit/loss	621 249	48,1%	419 406	24,7%	336 287	18 576,50	3244,3%
Financial income	17 036	252,0%	4 840	-80,3%	24 519	100	16936,0%
Financial charges	27 863	29,9%	21 455	3,8%	20 666	2 032	1271,2%
Financial profit/loss	-10 827	34,8%	-16 615	-531,2%	3 853	-653,50	-1556,8%
Pretax net operating income	610 422	51,5%	402 791	18,4%	340 141	16 218	3663,9%
Extraordinary income	70 512	111,1%	33 398	-42,3%	57 848	568	12314,1%
Extraordinary charges	198 499	764,0%	22 974	-69,5%	75 219	441	44911,1%
Extraordinary profit/loss	-127 987	-1327,8%	10 424	160,0%	-17 371	0	0%
Net result	318 307	16,8%	272 436	28,7%	211 744	15 283,50	1982,7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2008
Months	12	12	12

Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	2 914 216	0,3%	2 905 502	40,2%	2 073 034
	Gross	CO	3 468 134	3,8%	3 340 544	40,6%	2 375 715
	Amortisation	1A	553 918	27,3%	435 042	43,7%	302 681

Non-declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2010		31/12/2009		31/12/2008
Total Active fixed asset (II)	Net	811 442	8,3%	749 455	26,6%	591 949
Gross	BJ	1 327 334	12,1%	1 184 497	32,4%	894 631
Amortisation	BK	515 892	18,6%	435 042	43,7%	302 681

Intangible fixed assets

					31/12/2010				31/12/2009		31/12/2008
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		299 445		-26,9%		409 445	36,3%	300 444
Gross			AF		571 243		0%		571 243	53,9%	371 243
Amortisation			AG		271 798		68,0%		161 798	128,5%	70 798
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		3 548		6,1%		3 344	27,2%	2 629
Gross			AJ		17 501		35,9%		12 881	280,4%	3 386
Amortisation			AK		13 953		46,3%		9 537	1159,8%	757
Pre-payments and downpayments			Net		0		0%		0	0%	0
Gross			AL		0		0%		0	0%	0
Amortisation			AM		0		0%		0	0%	0
Net	302 993	-26,6%		412 789		36,2%		303 073

Tangilble fixed assets

		31/12/2010		31/12/2009		31/12/2008
Lands	Net	12 950	0%	12 950	0%	12 950
Gross	AN	12 950	0%	12 950	0%	12 950
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	78 329	-6,9%	84 112	-6,4%	89 896
Gross	AP	116 550	0%	116 550	0%	116 550
Amortisation	AQ	38 221	17,8%	32 438	21,7%	26 654
Plant	Net	6 982	-9,1%	7 681	-5,9%	8 160
Gross	AR	14 904	16,7%	12 772	17,6%	10 856
Amortisation	AS	7 922	55,6%	5 091	88,8%	2 696
Other tangible fixed assets	Net	398 846	80,8%	220 581	26,5%	174 328
Gross	AT	582 844	30,5%	446 759	18,8%	376 103
Amortisation	AU	183 998	-18,6%	226 178	12,1%	201 776
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	497 107		325 324		285 334

Financial assets

		31/12/2010		31/12/2009		31/12/2008
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	11 342	0%	11 342	220,2%	3 542
Gross	BH	11 342	0%	11 342	220,2%	3 542
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		11 342		11 342		3 542

Current Assets (III)

		31/12/2010		31/12/2009		31/12/2008
Total Assets	Net	2 102 190	-2,5%	2 155 705	45,7%	1 479 540
Gross	CJ	2 140 216	-0,7%	2 155 705	45,7%	1 479 540
Amortisation	CK	38 026	0%	0	0%	0

Stocks

		31/12/2010		31/12/2009		31/12/2008
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	698 465	-13,7%	809 421	240,0%	238 051
Gross	BP	698 465	-13,7%	809 421	240,0%	238 051
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	300 342	-1,9%	306 079	-28,0%	425 133
Gross	BT	338 368	10,5%	306 079	-28,0%	425 133
Amortisation	BU	38 026	0%	0	0%	0
Sub Total Stocks	Net	998 807	-10,5%	1 115 500	68,2%	663 184

Advance payments to suppliers

		31/12/2010		31/12/2009		31/12/2008
Advance payments to suppliers	Net	0	0%	75 176	25470,1%	294
Gross	BV	0	0%	75 176	25470,1%	294
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2010		31/12/2009		31/12/2008
Trade accounts receivable	Net	428 872	8,6%	394 750	-11,1%	443 999
Gross	BX	428 872	8,6%	394 750	-11,1%	443 999
Amortisation	BY	0	0%	0	0%	0
Other debtors	Net	65 251	193,1%	22 263	-77,5%	99 088
Gross	BZ	65 251	193,1%	22 263	-77,5%	99 088
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	494 123	18,5%	417 013	-23,2%	543 087

Divers

		31/12/2010		31/12/2009		31/12/2008
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	604 731	11,4%	543 069	102,8%	267 762
Gross	CF	604 731	11,4%	543 069	102,8%	267 762
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	604 731	11,4%	543 069	102,8%	267 762

Prepaid expenses

		31/12/2010		31/12/2009		31/12/2008
Prepaid expenses	Net	4 529	-8,4%	4 947	-5,1%	5 213
Gross	CH	4 529	-8,4%	4 947	-5,1%	5 213
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
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	584	70,8%	342	-77,8%	1 544
Gross		584	70,8%	342	-77,8%	1 544

References

		31/12/2010		31/12/2009		31/12/2008
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)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	2 914 216	0,3%	2 905 505	40,2%	2 073 034

Shareholder Equity (I)

		31/12/2010		31/12/2009		31/12/2008
Total shareholders' equity (Total I)	DL	1 141 760	38,7%	823 454	40,9%	584 321
Equity and shareholders' equity	DA	110 000	0%	110 000	44,3%	76 225
Issue and merger premiums	DB	1 180	0%	1 180	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	11 000	44,3%	7 623	0%	7 623
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	701 209	62,2%	432 209	49,7%	288 728
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	64	966,7%	06	200%	02
Profit or loss for the period	DI	318 307	16,8%	272 436	28,7%	211 744
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2010		31/12/2009		31/12/2008
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)

		31/12/2010		31/12/2009		31/12/2008
Total provisions for risks and charges (Total III)	DR	190 148	-34,5%	290 148	26,1%	230 148
Risk provisions	DP	0	0%	0	0%	0
Reserves for charges	DQ	190 148	-34,5%	290 148	26,1%	230 148

Liabilities (IV)

		31/12/2010		31/12/2009		31/12/2008
Total Liabilities (Total IV)	EC	1 582 308	-11,7%	1 791 903	42,4%	1 258 564
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	460 316	9,9%	418 756	23,2%	339 949
Sundry loans and financial liabilities	DV	81 131	-49,5%	160 627	144,1%	65 800
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	0	0%	1 055	-22,1%	1 354
Trade accounts payables	DX	681 713	-13,5%	788 243	24,3%	634 287
Tax and social security liabilities	DY	347 558	-16,1%	414 174	103,4%	203 590
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	8 952	-1,1%	9 048	-33,4%	13 583

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	2 638	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	1 022 716
Of which current bank facilities	EH	0	0%	0	0%	18 101

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)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	621 249	48,1%	419 406	24,7%	336 287

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-10 827	34,8%	-16 615	-531,2%	3 853

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	610 422	51,5%	402 791	18,4%	340 141

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-127 987	-1327,8%	10 424	160,0%	-17 371

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	318 307	16,8%	272 436	28,7%	211 744

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	5 870 550	3,0%	5 697 869	27,3%	4 475 690

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	5 552 242	2,3%	5 425 432	27,2%	4 263 946

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	5 783 002	2,2%	5 659 631	28,8%	4 393 323

Operating income (details)

		31/12/2010		31/12/2009		31/12/2008
Sale of goods for resale	FC	5 765 157	14,4%	5 040 801	21,0%	4 164 633
France	FA	5 630 012	14,8%	4 902 788	25,9%	3 893 117
Export	FB	135 145	-2,1%	138 013	-49,2%	271 516
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	18 234	10,1%	16 556	-20,2%	20 738
France	FG	18 234	10,1%	16 556	-20,2%	20 738
Export	FH	0	0%	0	0%	0
Net turnover	FL	5 783 391	14,4%	5 057 357	20,8%	4 185 370
France	FJ	5 648 246	14,8%	4 919 344	25,7%	3 913 855
Export	FK	135 145	-2,1%	138 013	-49,2%	271 516
Stocked production	FM	-110 956	-119,4%	571 370	197,3%	192 216
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	110 538	258,4%	30 841	96,9%	15 664
Other income	FQ	29	-54,0%	63	-12,5%	72

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	5 161 753	-1,5%	5 240 225	29,2%	4 057 035

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	1 658 639	-7,6%	1 795 021	15,4%	1 555 812
Change in stocks of goods for resale	FT	-32 289	-127,1%	119 054	186,4%	-137 826
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	2 077 947	5,5%	1 969 154	19,0%	1 654 722
Tax, duty and similar payments	FX	62 146	11,3%	55 856	-8,9%	61 329
Payroll	FY	838 640	7,4%	781 036	22,2%	638 962
Social security costs	FZ	276 551	16,7%	237 048	26,8%	186 886

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	204 146	26,8%	161 042	65,8%	97 141
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	38 026	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	90 000	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	37 947	18,5%	32 014	320040,0%	10

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2008
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)

		31/12/2010		31/12/2009		31/12/2008
Total financial income (Total V)	GP	17 036	252,0%	4 840	-80,3%	24 519
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	511	73,8%	294	-92,8%	4 072
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	16 525	263,5%	4 546	-70,1%	15 219
Net income from disposal of investment securities	GO	0	0%	0	0%	5 229

Financial Charge (VI)

		31/12/2010		31/12/2009		31/12/2008
Total financial charge (Total VI)	GU	27 863	29,9%	21 455	3,8%	20 666
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	14 444	-1,7%	14 691	-12,5%	16 788
Exchange losses	GS	13 419	98,4%	6 764	74,4%	3 878
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2010		31/12/2009		31/12/2008
Total extraordinary income (Total VII)	HD	70 512	111,1%	33 398	-42,3%	57 848
Extraordinary operating income	HA	0	0%	0	0%	0
Extraordinary income from capital transactions	HB	70 512	111,1%	33 398	-42,3%	57 848
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2010		31/12/2009		31/12/2008
Total extraordinary charges (Total VIII)	HH	198 499	764,0%	22 974	-69,5%	75 219
Extraordinary operating charges	HE	125 454	799,8%	13 943	130,9%	6 039
Extraordinary charges from capital transactions	HF	73 045	708,8%	9 031	-86,9%	69 180
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	164 127	16,6%	140 778	26,8%	111 026

References

		31/12/2010		31/12/2009		31/12/2008
Of which equipment leases	HP	0	0%	83 617	304,3%	20 681
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	15 664
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)

		31/12/2010		31/12/2009		31/12/2008
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%	37 713	-75,5%	153 731
Gross value at the end of period	OL	0	0%	1 184 497	32,4%	894 632

Research and development Charge (Total I)

		31/12/2010		31/12/2009		31/12/2008
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)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	KD	0	0%	374 628	69,3%	221 243
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	209 495	36,6%	153 386
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%	584 123	55,9%	374 629

Tangible fixed assets (Total III)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LN	0	0%	516 460	1,5%	509 004
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	0	0%	110 285	-28,1%	153 468
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	0	0%	37 713	-74,2%	146 011
Gross value at the end of period	NH	0	0%	589 032	14,1%	516 461

Fiancial assets (Total IV)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LQ	0	0%	3 542	-68,5%	11 232
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	0%	7 800	25900%	30
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	0	0%	0	0%	7 720
Gross value at the end of period	NK	0	0%	11 342	220,2%	3 542

Reserve for depreciation

Situation and movement of reserve for depreciation

Grand total (I-II-III)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	0	0%	71 555	181,0%	25 465
Increases		PF	0	0%	99 780	116,5%	46 090
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	171 335	139,4%	71 555

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	0	0%	231 126	-12,7%	264 627
Increases		QV	0	0%	61 262	20,0%	51 050
Decreases		QW	0	0%	28 682	-66,1%	84 551
	Decreasess by budget item transfer	QX	0	0%	263 706	14,1%	231 126

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2010		31/12/2009		31/12/2008
	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

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	0	0%	230 148	0%	230 148
Increases		UB	0	0%	90 000	0%	0
Decreases		UC	0	0%	30 000	0%	0
	Value at the end of period	UD	0	0%	290 148	26,1%	230 148

Includes Total allocations

Operating	UE	0	0%	90 000	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	30 000	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	0	0%	230 148	0%	230 148
Increases		TV	0	0%	90 000	0%	0
Decreases		TW	0	0%	30 000	0%	0
	Value at the end of period	TX	0	0%	290 148	26,1%	230 148

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	0	0%	433 302	-21,5%	551 842
1 year at most	VU	0	0%	421 960	-23,0%	548 300
More than one year	VV	0	0%	11 342	220,2%	3 542

State of loans

		31/12/2010		31/12/2009		31/12/2008
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%	11 342	220,2%	3 542
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	394 750	-11,1%	443 999
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%	69 866
Value added tax	VB	0	0%	17 405	-40,4%	29 222
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%	4 858	0%	0

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	0	0%	4 947	-5,1%	5 213

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	0	0%	1 790 848	42,4%	1 257 210
1 year at most		VZ2	0	0%	1 486 659	45,4%	1 022 716
More than 1 year and 5 years at most		VZ3	0	0%	274 599	42,1%	193 311
More than 5 years		VZ4	0	0%	29 590	-28,1%	41 182

Details

			31/12/2010		31/12/2009		31/12/2008
	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%	18 101
1 year at most		VG2	0	0%	0	0%	18 101
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%	418 756	30,1%	321 849
1 year at most		VH2	0	0%	114 567	31,2%	87 355
More than 1 year and 5 years at most		VH3	0	0%	274 599	42,1%	193 311
	Loans and various financial liabilities (gross)	8A1	0	0%	647	-17,6%	785
1 year at most		8A2	0	0%	647	-17,6%	785
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	788 243	24,3%	634 287
1 year at most		8B2	0	0%	788 243	24,3%	634 287
More than 1 year and 5 years at most		8B3	0	0%	788 243	24,3%	634 287
	Personnel and associated accounts (gross)	8C1	0	0%	148 455	212,2%	47 549
1 year at most		8C2	0	0%	148 455	212,2%	47 549
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%	106 450	124,4%	47 433
1 year at most		8D2	0	0%	106 450	124,4%	47 433
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	29 751	0%	0
1 year at most		8E2	0	0%	29 751	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	107 745	18,3%	91 108
1 year at most		VW2	0	0%	107 745	18,3%	91 108
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%	21 773	24,4%	17 501
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%	159 980	146,1%	65 015
1 year at most		VI2	0	0%	159 980	146,1%	65 015
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%	9 048	-33,4%	13 583
1 year at most		8K2	0	0%	9 048	-33,4%	13 583
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

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	0	0%	191 226	44,7%	132 113
Debt repaid during the period	VK	0	0%	94 318	-13,3%	108 742

Table allocation results and other information

Dividends distributed

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	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

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		1,80	0%	1,80	7,1%	1,68	2,15	-16,3%
Global Debt		98 days	-23,4%	128 days	18,5%	108 days	110 days	-10,9%
Working Capital Fund overall net		66 days	-1,5%	67 days	28,8%	52 days	57 days	15,8%
Financial independence		248,04%	26,1%	196,64%	14,4%	171,88%	346,74%	-28,5%
More ratios
Solvability		39,18%	38,2%	28,34%	0,5%	28,19%	33,35%	17,5%
Capacity debt futures		%	-	718,75%	29,7%	554,09%	862,97%	-
Coverage of current assets by net working capital overall		49,72%	13,3%	43,87%	6,0%	41,39%	39,40%	26,2%
General Liquidity			-	0,28	-48,1%	0,54	0,71	-
Restricted Liquidity			-	0,65	-18,8%	0,80	1,04	-

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		28 days	0%	28 days	-6,7%	30 days	30 days	-6,7%
Treasury		38 days	-2,6%	39 days	85,7%	21 days	10 days	280,0%
Inventory turnover of goods		75 days	29,3%	58 days	-46,3%	108 days	61 days	23,0%
Average length of credit granted to customers		27 days	-3,6%	28 days	-26,3%	38 days	55 days	-50,9%
Average length of credit obtained suppliers		66 days	-9,6%	73 days	-1,4%	74 days	61 days	8,2%
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	683 days	-
Rotation tangible assets		%	-	858,59%	5,9%	810,39%	999%	-

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		71,56%	15,7%	61,83%	-5,8%	65,62	24,82%	188,3%
Profitability of the business		13,67	2,9%	13,28	33,1%	9,98	3,74%	265,5%
Net profit		5,50%	2,0%	5,39%	6,5%	5,06%	1,81%	203,9%
More ratios
Growth rate of turnover (excluding VAT)		14,36%	-31,1%	20,83%	440,9%	-6,11%	0%	0%
Rates integration		34,03%	-1,4%	34,51%	10,7%	31,18%	19,09%	78,3%
Rate leasing furniture		0%	0%	1,65%	236,7%	0,49%	0%	0%
Work Factor		56,66%	-2,9%	58,33%	-7,8%	63,29%	70,13%	-19,2%
Weight interests		0,48	14,3%	0,42%	-14,3%	0,49%	0,26%	84,6%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		9,08%	21,1%	7,50%	-2,0%	7,65%	2,80%	224,3%
Rates of economic profitability		47%	-2,1%	48%	14,3%	42%	14,57%	222,6%
Financial profitability		1141760%	38,7%	823454%	40,9%	584321%	108655,50%	950,8%
Return on investment		20,57%	-1,8%	20,95%	-10,7%	23,47%	8,95%	129,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	5 783 391	14,4%	5 057 357	20,8%	4 185 370	869 754 €	564,9%

Sales of goods	5 765 157	14,4%	5 040 801	21,0%	4 164 633
- Purchase of goods	1 658 639	-7,6%	1 795 021	15,4%	1 555 812
+/- Stock of goods variation	-32 289	-127,1%	119 054	186,4%	-137 826
Trading margin	4 138 807 €	32,4%	3 126 726 €	13,8%	2 746 647 €	175 499,50 €	2258,3%
	71,56 % CA	15,7%	61,83 % CA	-5,8%	65,62 % CA	25,68 % CA	178,7%

Sale of goods produced	18 234	10,1%	16 556	-20,2%	20 738
+/- Stocked production	-110 956	-119,4%	571 370	197,3%	192 216
+ Self-constructed assets	0	0%	0	0%	0
Period production	-92 722 €	-115,8%	587 926 €	176,1%	212 954 €	36 768 €	-352,2%
	-1,60 % CA	-113,8%	11,63 % CA	128,5%	5,09 % CA	3,50 % CA	-145,7%

Trading margin	4 138 807	32,4%	3 126 726	13,8%	2 746 647	175 499,50	2258,3%
+ Period Production	-92 722	-115,8%	587 926	176,1%	212 954	36 768	-352,2%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	2 077 947	5,5%	1 969 154	19,0%	1 654 722
Added value	1 968 138 €	12,8%	1 745 498 €	33,8%	1 304 879 €	180 787 €	988,7%
	34,03 % CA	-1,4%	34,51 % CA	10,7%	31,18 % CA	19,09 % CA	78,3%

Added value	1 968 138 €	12,8%	1 745 498 €	33,8%	1 304 879 €	180 787 €	988,7%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	62 146	11,3%	55 856	-8,9%	61 329
- Personal charges	1 115 191	9,5%	1 018 084	23,3%	825 848
Gross operating surplus	790 801 €	17,8%	671 558 €	60,8%	417 702 €	29 158 €	2612,1%
	13,67 % CA	2,9%	13,28 % CA	33,1%	9,98 % CA	3,74 % CA	265,5%

Gross operating surplus	790 801 €	17,8%	671 558 €	60,8%	417 702 €	29 158 €	2612,1%
+ Release of reserves and provisions	110 538	258,4%	30 841	96,9%	15 664
+ Other operating income	29	-54,0%	63	-12,5%	72
- Depreciation/Amortisation	242 172	-3,5%	251 042	158,4%	97 141
- Other charges	37 947	18,5%	32 014	320040,0%	10
Operating result	621 249 €	48,1%	419 406 €	24,7%	336 287 €	18 460,50 €	3265,3%
	10,74 % CA	29,6%	8,29 % CA	3,2%	8,03 % CA	2,34 % CA	359,0%

Operating result	621 249 €	48,1%	419 406 €	24,7%	336 287 €	18 460,50 €	3265,3%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	17 036	252,0%	4 840	-80,3%	24 519
- Financial charges	27 863	29,9%	21 455	3,8%	20 666
Pre-tax result	610 422 €	51,5%	402 791 €	18,4%	340 140 €	16 140 €	3682,0%
	10,55 % CA	32,5%	7,96 % CA	-2,1%	8,13 % CA	2,08 % CA	407,2%

Extraordinary income	70 512	111,1%	33 398	-42,3%	57 848	568	12314,1%
- Extraordinary charges	198 499	764,0%	22 974	-69,5%	75 219
Extraordinary result	-127 987 €	-1327,8%	10 424 €	160,0%	-17 371 €	0 €	0%
	-2,21 % CA	-1152,4%	0,21 % CA	150,0%	0 % CA	0 % CA	0%

Pre-tax result	610 422 €	51,5%	402 791 €	18,4%	340 140 €	16 140 €	3682,0%
Extraordinary result	-127 987 €	-1327,8%	10 424 €	160,0%	-17 371 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	164 127	16,6%	140 778	26,8%	111 026
Net result	318 308 €	16,8%	272 437 €	28,7%	211 743 €	15 270,50 €	1984,5%
	5,50 % CA	2,0%	5,39 % CA	6,5%	5,06 % CA	1,81 % CA	203,9%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Workforces

Workforce at address

10 to 19 employees

Company workforce

10 to 19 employees

Average number of employees

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	0	0%	0	0%	0

Preferential rights details and history

Status of collection

This company is not under monitoring

Group data

Linkages

No Linkages information available for the company

Event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
18/07/2013	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 670 - 321302861 RCS. SOCIETE GRANIMOND. Forme : S.A.R.L.. Adresse : 24, place Théodore-Paqué 57500 Saint-Avold. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
25/07/2012	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 209 - 321302861 RCS. SOCIETE GRANIMOND. Forme : S.A.R.L.. Adresse : 24, place Théodore-Paqué 57500 Saint-Avold. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
29/12/2011	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 14 - 321302861 RCS. SOCIETE GRANIMOND. Forme : S.A.R.L.. Adresse : 24, place Théodore-Paqué, B.P. 20108 57500 Saint-Avold. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
15/07/2010	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 874 - 321 302 861 RCS Sarreguemines. SOCIETE GRANIMOND. Forme : Société à Responsabilité Limitée. Capital : 110000 EUR. Adresse du siège social : 24 place Théodore Paque, 57500 Saint-Avold. Commentaires : modification survenue sur le capital (ancien : 76 224,51 euros) ; date d'effet : 10/12/2009.
07/01/2010	JAL	Modification of the share capital
(METZ THIONVILLE MOSELLE) Date de décision : 10/12/2009 La société : 321302861 - SOCIETE GRANIMOND, 24 PL THEODORE PAQUE, BP N¿108 SAINT AVOLD, 57500 SAINT AVOLD a subi une augmentation de son capital social désormais de 87 200 €
18/12/2009	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 807 - 321302861 RCS. SOCIETE GRANIMOND. Forme : S.A.R.L.. Adresse : 24, place Théodore-Paque 57500 Saint-Avold. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
18/11/2007	Bodacc C	Avis de dépôt des comptes
998 - Sarreguemines B 321 302 861. SOCIETE GRANIMOND. Forme: S.A.R.L.. Adresse du siège social: 24, place Théodore-Paque57500 Saint-Avold. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
13/01/2007	Bodacc C	Avis de dépôt des comptes
560 - RCS Sarreguemines B 321 302 861. SOCIETE GRANIMOND. Forme: S.A.R.L.. Adresse du siège social: 24, place Théodore-Paque57500 Saint-Avold. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
25/06/2006	Bodacc C	Avis de dépôt des comptes
944 - RCS Sarreguemines B 321 302 861. SOCIETE GRANIMOND. Forme: S.A.R.L.. Adresse du siège social: 24, place Théodore-Paque57500 Saint-Avold. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
27/05/2005	Bodacc C	Avis de dépôt des comptes
797 - RCS Sarreguemines B 321 302 861. SOCIETE GRANIMOND. Forme: S.A.R.L.. Adresse du siège social: 24, place Théodore-Paque57500 Saint-Avold. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.

Company events history

Date	Description
18/07/2013	Bodacc C : Deposit accounts notice
25/07/2012	Bodacc C : Deposit accounts notice
28/04/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/12/2011	Bodacc C : Deposit accounts notice
26/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
15/07/2010	Bodacc B: Various editing or changing
01/06/2010	Minutes of general meeting of shareholders
24/02/2010	Private document
24/02/2010	Sale of shares
20/01/2010	Updated articles of association
20/01/2010	Minutes of general meeting of shareholders
20/01/2010	Private document
31/12/2009	New accounts available
18/12/2009	Bodacc C : Deposit accounts notice
10/12/2009	Legal Gazette: Modification of the share capital
10/12/2009	Other modification of Establishment
17/06/2009	Payment incident closed
31/12/2008	New accounts available
31/12/2007	New accounts available
19/11/2007	Amendment
19/11/2007	Acte sous seing privé
19/11/2007	Private document
19/11/2007	PV d'Assemblée
19/11/2007	Minutes of general meeting of shareholders
19/11/2007	Acte modificatif
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
03/04/2002	Statuts mis à jour
03/04/2002	Acte sous seing privé
03/04/2002	Acte modificatif
03/04/2002	PV d'Assemblée
03/04/2002	Cession de parts
14/05/1998	Donation/Partage
14/05/1998	Expédition acte notarié
14/05/1998	Cession de parts
14/05/1998	Acte modificatif
23/09/1994	Augmentation de Capital
23/09/1994	PV d'Assemblée
23/09/1994	Statuts mis à jour
23/09/1994	Acte modificatif
27/01/1992	Transfert du Siège dans le ressort du Tribunal de Commerce
27/01/1992	Déclaration de conformité
27/01/1992	Statuts mis à jour
27/01/1992	Acte modificatif
27/01/1992	PV d'Assemblée

Establishment events history

Date	Description
10/12/2009	Modification of Head office
22/10/2009	Update of phone numbers

NOTES & COMMENTS

Commentary

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

	The pre-tax profit is more than 25,000€
	The shareholder's equity is more than 250,000€
	The debtor days are 31.47
	The return on total assets employed is positive
	The tangible fixed assets are 497,107 €
	The company is 32 years old
	The sales to current assets ratio is 2,75
	The ratio total assets to total liabilities is 1,64
	The liquidity acid test is less than 65%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.99
UK Pound	1	Rs.104.61
Euro	1	Rs.86.17

INFORMATION DETAILS

Report Prepared by :

NNA

RATING EXPLANATIONS

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

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

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

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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