MIRA INFORM REPORT

Report Date :

14.07.2014

IDENTIFICATION DETAILS

Name :	ETABLISSEMENTS PLANCHER
Registered Office :	Zi Des Bordets Bp 3, 223 Rue Des Cygnes, 74131 Bonneville Cedex
Country :	france
Financials (as on) :	31.12.2012
Date of Incorporation :	January 1962
Com. Reg. No.:	RCS 6 775 654 742
Legal Form :	Public Limited Company with Board of Directors
Line of Business :	· Engaged in General Printing, manufacturing of Envelopes, Editing and Production Schedules, Advertising Articles as well as Editing and publishing the Weekly Newspaper. Wholesale trader of metals and Metal Ores Other Printing (Work)
No of Employees :	95 (31.12.2012)

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 :	No Complaints
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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

company summary

Top of Form

Name

ETABLISSEMENTS PLANCHER

SIRET

775 654 742 00102

Phone	04 50 97 00 25	EUR VAT Number	FR04775654742
Fax	04 50 97 46 02	Legal form	Public limited company with board of directors
Address	ETABLISSEMENTS PLANCHER ZI DES BORDETS BP 3 223 RUE DES CYGNES 74131 BONNEVILLE CEDEX	RCS Registration	RCS 6 775 654 742
Nationality	France	Share capital	2,000,000 Euros
Status	Economically active	Incorporated Date	02/1962
Activity (APE)	· Engaged in General Printing, manufacturing of Envelopes, Editing and Production Schedules, Advertising Articles as well as Editing and publishing the Weekly Newspaper. Wholesale trader of metals and Metal Ores Other Printing (Work)

This company is not under monitoring

Current Directors

5

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	65,488,117 €	79,666,404 €	70,964,945 €
Gross Operating Surplus	1.45 % Turnover	1.98 % Turnover	2.75 % Turnover
Shareholders’ equity	5,895,537 €	5,208,286 €	4,914,602 €
Net result	699,628 €	302,047 €	165,293 €
Employees	95 (31.12.2012)	-	-

Trends
Profitability
Liquidity
Net worth

Company details

Activity (APE)	· Engaged in General Printing, manufacturing of Envelopes, Editing and Production Schedules, Advertising Articles as well as Editing and publishing the Weekly Newspaper. Wholesale trader of metals and Metal Ores Other Printing (Work)
RCS Registration	RCS 6 775 654 742	Share capital	2,000,000 Euros
Registration Court	(74)	Legal form	Public limited company with board of directors
Court Registry Number	19 6 2B80011	EUR VAT Number	FR04775654742
Incorporation Date	02/1962	Formation Date	01/1962
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Postal Address	ETABLISSEMENTS PLANCHER ZI DES BORDETS BP 3 223 RUE DES CYGNES 74131 BONNEVILLE CEDEX	Business Pages FT®	METAUX NON FERREUX ET ALLIAGES (PRODUCTION, TRANSFORMATION, NEGOCE)
Telephone	04 50 97 00 25	Trading Address	223 RUE DES CYGNES 74130 BONNEVILLE
Fax	04 50 97 46 02
Activity (APE)	· Engaged in General Printing, manufacturing of Envelopes, Editing and Production Schedules, Advertising Articles as well as Editing and publishing the Weekly Newspaper. Wholesale trader of metals and Metal Ores Other Printing (Work)

Type	Head office	Status	Economically active
Formation Date	03/2008	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Haute-Savoie (74)	Region	Rhône-Alpes
District		Area
City	BONNEVILLE	Size of urban area

Other establishments

Branches	3 branch entities in this company
Head office	> ETABLISSEMENTS PLANCHER <<< - Commerce de gros (commerce interentreprises) de minerais et métaux (4672Z) in BONNEVILLE (74130)
Secondary establishments	> ETABLISSEMENTS PLANCHER - Commerce de gros (commerce interentreprises) de minerais et métaux (4672Z) in CLUSES (74300) > ETABLISSEMENTS PLANCHER - Commerce de gros (commerce interentreprises) de minerais et métaux (4672Z) in PARIS 6 (75006) > ETABLISSEMENTS PLANCHER - Commerce de gros (commerce interentreprises) de minerais et métaux (4672Z) in SALLANCHES (74700) > ETABLISSEMENTS PLANCHER - Commerce de gros (commerce interentreprises) de minerais et métaux (4672Z) in AYSE (74130) > ...

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which no activity grouping more than 50% of workforce

Workforces

Workforce at address

95 (31.12.2012)

Company workforce

95 (31.12.2012)

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	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	02/01/2014	02/08/2012	05/09/2011
Activity Code	4672Z	4672Z	4672Z
Employees	95	115	125

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1,438,289	-16.1%	1,713,655	-18.3%	2,097,404	68,807	1990.3%
- Intangible assets	32,850	-54.1%	71,531	-58.2%	171,295	0	0%
- Tangible assets	1,065,287	-13.8%	1,235,484	-18.9%	1,524,211	27,103.50	3830.4%
- Financial assets	340,152	-16.4%	406,640	1.2%	401,900	3,268.50	10307.0%
Net current assets	33,256,585	-16.8%	39,974,712	15.2%	34,696,569	901,329	3589.7%
- Stocks	22,214,512	-6.3%	23,712,150	13.2%	20,942,691	142,650	15472.7%
- Advanced payments	0	-16.8%	0	0%	0	0	0%
- Receivables	7,993,412	-41.1%	13,566,507	32.3%	10,251,159	387,659.50	1962.0%
- Securities and cash	3,048,661	13.1%	2,696,056	-23.0%	3,502,719	101,426.50	2905.8%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	3,039,525	11.9%	2,716,757	0	0%
Total Assets	34,694,874	-22.4%	44,727,893	13.2%	39,510,730	1,099,506.50	3055.5%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	5,895,537	13.2%	5,208,286	6.0%	4,914,602	407,815.50	1345.6%
Share capital	2,000,000	0%	2,000,000	0%	2,000,000	76,514.50	2513.9%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	3,039,525	9.9%	2,766,757	0	0%
Liabilities	28,799,337	-21.1%	36,480,082	14.6%	31,829,371	536,643.50	5266.6%
- Financial liabilities	17,743,386	-6.0%	18,881,772	9.1%	17,311,709	55,079.50	32114.1%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	8,705,165	-41.3%	14,831,270	30.5%	11,366,587	217,783	3897.2%
- Tax and social liabilities	1,348,261	-11.4%	1,522,287	-14.2%	1,773,564	99,782	1251.2%
- Other debts and fixed assets liabilities	988,934	-19.5%	1,229,221	-9.7%	1,361,788	5,073.50	19392.1%
Account regularization	13,591	-12.5%	15,532	-1.2%	15,722	0	0%
Total liabilities	34,694,874	-22.4%	44,727,893	13.2%	39,510,730	1,099,506	3055.5%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	65,812,047	-17.0%	79,243,938	10.6%	71,633,184	2,192,690.50	2901.4%
Net turnover	65,488,117	-17.8%	79,666,404	12.3%	70,964,945	2,171,069.50	2916.4%
- of which net export turnover	14,661,008	-18.6%	18,014,641	23.7%	14,558,007	0	0%
Operating charges	65,190,649	-16.4%	77,969,565	11.5%	69,920,592	2,133,025	2956.3%
Operating profit/loss	621,397	-51.2%	1,274,373	-25.6%	1,712,591	39,653.50	1467.1%
Financial income	3,549,935	1214.4%	270,085	-64.7%	765,786	924.50	383884.3%
Financial charges	3,546,512	171.1%	1,308,333	-43.5%	2,315,829	4,663.50	75948.3%
Financial profit/loss	3,423	100.3%	-1,038,248	33.0%	-1,550,042	-570.50	700%
Pretax net operating income	624,821	164.6%	236,124	45.3%	162,549	39,100.50	1498.0%
Extraordinary income	97,018	-30.8%	140,212	35.5%	103,456	902.50	10649.9%
Extraordinary charges	23,683	-68.8%	76,018	-26.8%	103,912	578.50	3993.9%
Extraordinary profit/loss	73,335	14.2%	64,195	14177.9%	-456	0	0%
Net result	699,628	131.6%	302,047	82.7%	165,293	37,940.50	1744.0%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2012	31/12/2011	31/12/2010
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2012		31/12/2011		31/12/2010
	Grand Total (I to VI)	Net	34,694,874	-22.4%	44,727,893	13.2%	39,510,730
	Gross	CO	50,156,646	-16.8%	60,272,094	11.5%	54,057,304
	Amortisation	1A	15,461,772	-0.5%	15,544,201	6.9%	14,546,574

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
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		31/12/2010
	Total Active fixed asset (II)	Net	1,438,289	-16.1%	1,713,655	-18.3%	2,097,404
	Gross	BJ	10,949,575	-1.4%	11,101,212	0.1%	11,095,543
	Amortisation	BK	9,511,286	1.3%	9,387,556	4.3%	8,998,139

Intangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	6,698	0%	6,698	0%	6,698
	Gross	AF	6,698	0%	6,698	0%	6,698
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	3,811	0%	3,811	0%	3,811
	Gross	AH	3,811	0%	3,811	0%	3,811
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	22,341	-63.4%	61,022	-62.0%	160,786
	Gross	AJ	648,354	0%	648,354	3.2%	628,364
	Amortisation	AK	626,012	6.6%	587,332	25.6%	467,578
	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	32,850	-54.1%	71,531	-58.2%	171,295

Tangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Lands	Net	386,402	0%	386,402	0%	386,402
	Gross	AN	386,402	0%	386,402	0%	386,402
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	328,233	-26.4%	446,003	-21.5%	567,827
	Gross	AP	3,379,561	0.0%	3,377,982	0%	3,377,982
	Amortisation	AQ	3,051,328	4.1%	2,931,979	4.3%	2,810,155
	Plant	Net	171,504	62.4%	105,629	-35.2%	162,998
	Gross	AR	3,548,921	3.7%	3,421,230	0.3%	3,412,581
	Amortisation	AS	3,377,417	1.9%	3,315,602	2.0%	3,249,584
	Other tangible fixed assets	Net	179,148	-39.8%	297,450	-26.9%	406,984
	Gross	AT	2,635,677	-7.5%	2,850,094	-1.0%	2,877,806
	Amortisation	AU	2,456,529	-3.8%	2,552,644	3.3%	2,470,823
	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	1,065,287		1,235,484		1,524,211

Financial assets

			31/12/2012		31/12/2011		31/12/2010
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	7,221	0%	7,221	0%	7,221
	Gross	CU	7,221	0%	7,221	0%	7,221
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	20,048	0%	20,048	0%	20,048
	Gross	BB	20,048	0%	20,048	0%	20,048
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	5,994	0%	5,994	0%	5,994
	Gross	BD	5,994	0%	5,994	0%	5,994
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	287,778	-18.8%	354,276	-1.0%	357,693
	Gross	BF	287,778	0%	354,276	0%	357,693
	Amortisation	BG	0		0		0
	Other financial assets	Net	19,111	0.1%	19,101	74.5%	10,944
	Gross	BH	19,111	0.1%	19,101	74.5%	10,944
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		340,152		406,640		401,900

Current Assets (III)

			31/12/2012		31/12/2011		31/12/2010
	Total Assets	Net	33,256,585	-16.8%	39,974,712	15.2%	34,696,569
	Gross	CJ	39,207,072	-15.0%	46,131,357	14.6%	40,245,004
	Amortisation	CK	5,950,486	-3.3%	6,156,645	11.0%	5,548,435

Stocks

			31/12/2012		31/12/2011		31/12/2010
	Raw materials	Net	971,255	-9.1%	1,068,140	29.5%	825,104
	Gross	BL	971,255	-9.1%	1,068,140	29.5%	825,104
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	342,950	36.6%	251,050	-72.3%	907,000
	Gross	BN	342,950	36.6%	251,050	-72.3%	907,000
	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	20,900,307	-6.7%	22,392,960	16.6%	19,210,587
	Gross	BT	20,900,307	-6.7%	22,392,960	16.6%	19,210,587
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	22,214,512	-6.3%	23,712,150	13.2%	20,942,691

Advance payments to suppliers

			31/12/2012		31/12/2011		31/12/2010
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2012		31/12/2011		31/12/2010
	Trade accounts receivable	Net	7,691,431	-42.1%	13,273,354	33.6%	9,936,124
	Gross	BX	8,070,464	-40.8%	13,635,746	32.8%	10,266,726
	Amortisation	BY	379,032	4.6%	362,392	9.6%	330,601
	Other debtors	Net	210,558	12.7%	186,753	-8.1%	203,311
	Gross	BZ	210,558	12.7%	186,753	-8.1%	203,311
	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	7,901,989	-41.3%	13,460,107	32.8%	10,139,435

Divers

			31/12/2012		31/12/2011		31/12/2010
	Investment securities	Net	2,707,694	9.2%	2,479,439	-19.6%	3,085,129
	Gross	CD	8,279,148	0.1%	8,273,691	-0.4%	8,302,962
	Amortisation	CE	5,571,454	-3.8%	5,794,253	11.0%	5,217,834
	Cash and cash equivalents	Net	340,967	57.4%	216,617	-48.1%	417,590
	Gross	CF	340,967	57.4%	216,617	-48.1%	417,590
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	3,048,661	13.1%	2,696,056	-23.0%	3,502,719

Prepaid expenses

			31/12/2012		31/12/2011		31/12/2010
	Prepaid expenses	Net	91,423	-14.1%	106,400	-4.8%	111,724
	Gross	CH	91,423	-14.1%	106,400	-4.8%	111,724
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	3,039,525	11.9%	2,716,757
Gross		0	0%	3,039,525	11.9%	2,716,757

References

		31/12/2012		31/12/2011		31/12/2010
Due within one year	CP	5,534	-65.5%	16,038	-12.3%	18,296
Due after one year	CR	439,151	2.9%	426,671	8.4%	393,653

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		31/12/2010
Grand Total (I to V)	EE	34,694,874	-22.4%	44,727,893	13.2%	39,510,730

Shareholder Equity (I)

			31/12/2012		31/12/2011		31/12/2010
	Total shareholders' equity (Total I)	DL	5,895,537	13.2%	5,208,286	6.0%	4,914,602
	Equity and shareholders' equity	DA	2,000,000	0%	2,000,000	0%	2,000,000
	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	200,000	0%	200,000	0%	200,000
	Statutory or contractual reserve	DE	6,885,263	0%	6,885,263	0%	6,885,263
	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	-3,894,507	7.2%	-4,196,554	3.8%	-4,361,848
	Profit or loss for the period	DI	699,628	131.6%	302,047	82.7%	165,293
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	5,153	-70.6%	17,530	-32.3%	25,893

Other capital resources (II)

			31/12/2012		31/12/2011		31/12/2010
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2012		31/12/2011		31/12/2010
	Total provisions for risks and charges (Total III)	DR	0	0%	3,039,525	9.9%	2,766,757
	Risk provisions	DP	0	0%	3,039,525	11.9%	2,716,757
	Reserves for charges	DQ	0	0%	0	0%	50,000

Liabilities (IV)

			31/12/2012		31/12/2011		31/12/2010
	Total Liabilities (Total IV)	EC	28,799,337	-21.1%	36,480,082	14.6%	31,829,371
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	16,698,570	-8.9%	18,338,422	9.5%	16,744,678
	Sundry loans and financial liabilities	DV	1,044,816	92.3%	543,350	-4.2%	567,031
	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	8,705,165	-41.3%	14,831,270	30.5%	11,366,587
	Tax and social security liabilities	DY	1,348,261	-11.4%	1,522,287	-14.2%	1,773,564
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	988,934	-19.5%	1,229,221	-9.7%	1,361,788

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	13,591	-12.5%	15,532	-1.2%	15,722

References

		31/12/2012		31/12/2011		31/12/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	15,150,025	-55.6%	34,092,265	19.8%	28,448,283
Of which current bank facilities	EH	2,624,528	-82.4%	14,950,213	20.8%	12,375,779

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		31/12/2010
Operating result (Total I-II)	GG	621,397	-51.2%	1,274,373	-25.6%	1,712,591

2 -Financial result(V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	3,423	100.3%	-1,038,248	33.0%	-1,550,042

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

		31/12/2012		31/12/2011		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	624,821	164.6%	236,124	45.3%	162,549

4 -Extraordinary result(VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	73,335	14.2%	64,195	14177.9%	-456

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	699,628	131.6%	302,047	82.7%	165,293

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	69,459,000	-12.8%	79,654,235	9.9%	72,502,427

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

		31/12/2012		31/12/2011		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	68,759,372	-13.3%	79,352,189	9.7%	72,337,133

Operating income(I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	65,812,047	-17.0%	79,243,938	10.6%	71,633,184

Operating income (details)

			31/12/2012		31/12/2011		31/12/2010
	Sale of goods for resale	FC	61,258,905	-18.2%	74,869,359	13.0%	66,244,375
	France	FA	46,599,599	-18.1%	56,879,738	10.0%	51,718,101
	Export	FB	14,659,306	-18.5%	17,989,621	23.8%	14,526,274
	Sale of goods produced	FF	4,229,212	-11.8%	4,797,045	1.6%	4,720,569
	France	FD	4,227,510	-11.4%	4,772,025	1.8%	4,688,836
	Export	FE	1,702	-93.2%	25,020	-21.2%	31,733
	Sale of services	FI	0	0%	0	0%	0
	France	FG	0	0%	0	0%	0
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	65,488,117	-17.8%	79,666,404	12.3%	70,964,945
	France	FJ	50,827,109	-17.6%	61,651,763	9.3%	56,406,938
	Export	FK	14,661,008	-18.6%	18,014,641	23.7%	14,558,007
	Stocked production	FM	91,900	114.0%	-655,950	-696.3%	110,000
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	3,907	73.6%	2,250	-98.6%	155,286
	Release of reserves and provisions	FP	91,242	292.9%	23,223	-80.0%	115,899
	Other income	FQ	136,881	-34.2%	208,010	-27.5%	287,055

Operating charges(II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	65,190,649	-16.4%	77,969,565	11.5%	69,920,592

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	52,079,170	-23.6%	68,196,181	14.1%	59,778,958
Change in stocks of goods for resale	FT	1,492,653	146.9%	-3,182,373	17.1%	-3,839,424
Purchase of raw materials	FU	1,107,343	-25.9%	1,494,609	1.9%	1,466,792
Change in stocks of raw materials	FV	96,885	139.9%	-243,036	-161.8%	393,030
Other external purchases and charges	FW	4,580,582	-15.2%	5,399,553	0.1%	5,391,775
Tax, duty and similar payments	FX	677,520	-4.5%	709,270	1.1%	701,763
Payroll	FY	3,311,390	-7.2%	3,569,053	-7.4%	3,853,364
Social security costs	FZ	1,290,918	-13.6%	1,493,794	-2.6%	1,533,323

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	338,455	-23.4%	441,627	-14.9%	518,824
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	107,882	96.1%	55,014	64.6%	33,429
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	107,852	200.6%	35,873	-59.6%	88,759

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income(V)

			31/12/2012		31/12/2011		31/12/2010
	Total financial income (Total V)	GP	3,549,935	1214.4%	270,085	-64.7%	765,786
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	152	0%	152	0%	152
	Other interest and similar income	GL	147,247	-26.5%	200,263	28.0%	156,427
	Released provisions and transferred charges	GM	3,402,522	7271.5%	46,158	-92.4%	609,006
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	15	-99.9%	23,512	11597.5%	201

Financial Charge (VI)

			31/12/2012		31/12/2011		31/12/2010
	Total financial charge (Total VI)	GU	3,546,512	171.1%	1,308,333	-43.5%	2,315,829
	Financial reserves and provisions	GQ	140,198	-85.2%	945,345	-48.7%	1,843,406
	Interest and similar charges	GR	235,736	-30.8%	340,630	10.5%	308,326
	Exchange losses	GS	3,170,578	0%	0	0%	164,096
	Net loss from disposal of investment securities	GT	0	0%	22,358	0%	0

Extraordinary income(VII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary income (Total VII)	HD	97,018	-30.8%	140,212	35.5%	103,456
	Extraordinary operating income	HA	63,735	-16.0%	75,849	28.7%	58,923
	Extraordinary income from capital transactions	HB	20,906	248.4%	6,000	-31.8%	8,800
	Released provisions and transferred charges	HC	12,377	-78.8%	58,363	63.3%	35,733

Extraordinary charges(VIII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary charges (Total VIII)	HH	23,683	-68.8%	76,018	-26.8%	103,912
	Extraordinary operating charges	HE	11,481	-83.3%	68,658	894.8%	6,902
	Extraordinary charges from capital transactions	HF	12,202	65.8%	7,360	-84.3%	47,010
	Extraordinary reserves and provisions	HG	0	0%	0	0%	50,000

Employee profit sharing(IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	-1,472	14.8%	-1,728	46.0%	-3,200

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	497,844	-2.3%	509,304	8.2%	470,587
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	2,205	0.1%	2,202	171.9%	810

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		31/12/2010
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	320,026	270.0%	86,486	-92.1%	1,095,281
	Gross value at the end of period	OL	10,949,575	-1.4%	11,101,211	0.1%	11,095,543

Research and development Charge (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets(Total II)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	KD	658,863	3.1%	638,873	-4.9%	671,869
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	19,990	45.5%	13,743
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	46,739
	Gross value at the end of period	LW	658,863	0%	658,863	3.1%	638,873

Tangible fixed assets (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LN	10,035,709	-0.2%	10,054,771	-8.6%	11,000,082
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	141,779	250.0%	40,507	-2.9%	41,726
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	226,928	280.9%	59,570	-94.0%	987,037
	Gross value at the end of period	NH	9,950,560	-0.8%	10,035,708	-0.2%	10,054,772

Financial assets (Total IV)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LQ	406,640	1.2%	401,899	-5.3%	424,209
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	26,610	-15.9%	31,657	-19.2%	39,195
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	93,099	245.9%	26,916	-56.2%	61,505
	Gross value at the end of period	NK	340,152	-16.4%	406,640	1.2%	401,899

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

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	587,332	25.6%	467,578	17.2%	398,908
Increases		PF	38,681	-67.7%	119,754	3.8%	115,409
Decreasess		PG	0	0%	0	0%	46,739
	Decreasess by budget item transfer	PH	626,012	6.6%	587,332	25.6%	467,578

Total fixed assets amotisation(Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	8,800,225	3.2%	8,530,561	-5.9%	9,067,173
Increases		QV	299,774	-6.9%	321,873	-20.2%	403,415
Decreases		QW	214,726	311.3%	52,210	-94.4%	940,027
	Decreasess by budget item transfer	QX	8,885,273	1.0%	8,800,225	3.2%	8,530,561

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2012		31/12/2011		31/12/2010
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7C	9,213,700	10.5%	8,341,085	16.3%	7,174,888
Increases		UB	248,080	-75.2%	1,000,359	-48.1%	1,926,836
Decreases		UC	3,506,141	2644.7%	127,744	-83.2%	760,639
	Value at the end of period	UD	5,955,639	-35.4%	9,213,700	10.5%	8,341,085

Includes Total allocations

Operating	UE	107,882	96.1%	55,014	64.6%	33,429
Financial	UG	140,198	-85.2%	945,345	-48.7%	1,843,406
Exceptional	UJ	0	0%	0	0%	50,000

Includes Total Withdrawal

Operating	UF	91,242	292.9%	23,223	-80.0%	115,899
Financial	UH	3,402,522	7271.5%	46,158	-92.4%	609,006
Exceptional	UK	12,377	-78.8%	58,363	63.3%	35,733

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	17,530	-32.3%	25,893	-58.0%	61,627
Increases		TS	0	0%	0	0%	0
Decreases		TT	12,377	48.0%	8,363	-76.6%	35,733
	Value at the end of period	TU	5,153	-70.6%	17,530	-32.3%	25,893

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	5Z	3,039,525	9.9%	2,766,757	152.2%	1,097,123
Increases		TV	0	0%	322,768	-82.2%	1,810,750
Decreases		TW	3,039,525	5979.0%	50,000	-64.6%	141,116
	Value at the end of period	TX	0	0%	3,039,525	9.9%	2,766,757

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7B	6,156,645	11.0%	5,548,435	-7.8%	6,016,138
Increases		TY	248,080	-63.4%	677,591	483.7%	116,086
Decreases		TZ	454,238	554.7%	69,381	-88.1%	583,789
	Value at the end of period	UA	5,950,486	-3.3%	6,156,645	11.0%	5,548,435

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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	8,699,382	-39.3%	14,322,322	30.6%	10,970,446
1 year at most	VU	7,938,828	-41.3%	13,518,264	32.4%	10,206,405
More than one year	VV	760,554	-5.4%	804,058	5.2%	764,041

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	20,048	0%	20,048	0%	20,048
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	287,778	-18.8%	354,276	-1.0%	357,693
Loans (1 year at most)	UR	5,534	-65.5%	16,038	-12.3%	18,297
Other financial assets (gross)	UT	19,111	0.1%	19,101	74.5%	10,944
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	439,044	3.2%	425,586	8.4%	392,568
Other claims customer	UX	7,631,420	-42.2%	13,210,160	33.8%	9,874,157
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	2,499	-4.1%	2,607	-13.5%	3,015
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	1,472	-14.8%	1,728	-46.0%	3,200
Value added tax	VB	163,810	1.9%	160,788	0.1%	160,596
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	34,231	160.3%	13,151	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	8,545	0.8%	8,477	-76.8%	36,501

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	91,423	-14.1%	106,400	-4.8%	111,724

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	28,799,337	-21.1%	36,480,082	14.6%	31,829,370
1 year at most		VZ2	15,150,025	-55.6%	34,092,265	19.8%	28,448,282
More than 1 year and 5 years at most		VZ3	5,240,214	119.5%	2,387,817	-29.4%	3,381,088
More than 5 years		VZ4	8,409,098	0%	0	0%	0

Details

			31/12/2012		31/12/2011		31/12/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	2,634,446	-82.4%	14,959,754	20.8%	12,385,554
1 year at most		VG2	2,634,446	-82.4%	14,959,754	20.8%	12,385,554
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	14,064,125	316.3%	3,378,668	-22.5%	4,359,124
1 year at most		VH2	1,318,776	32.6%	994,815	1.3%	982,000
More than 1 year and 5 years at most		VH3	4,636,251	94.5%	2,383,853	-29.4%	3,377,124
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	8,705,165	-41.3%	14,831,270	30.5%	11,366,587
1 year at most		8B2	8,705,165	-41.3%	14,831,270	30.5%	11,366,587
More than 1 year and 5 years at most		8B3	8,705,165	-41.3%	14,831,270	30.5%	11,366,587
	Personnel and associated accounts (gross)	8C1	317,128	-11.4%	358,114	-12.3%	408,188
1 year at most		8C2	317,128	-11.4%	358,114	-12.3%	408,188
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	445,846	0.9%	441,763	-7.2%	475,900
1 year at most		8D2	445,846	0.9%	441,763	-7.2%	475,900
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	382,280	-24.6%	506,798	-15.2%	597,476
1 year at most		VW2	382,280	-24.6%	506,798	-15.2%	597,476
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	203,006	-5.8%	215,612	-26.2%	292,000
1 year at most		VQ2	203,006	-5.8%	215,612	-26.2%	292,000
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	1,044,816	92.3%	543,350	-4.2%	567,031
1 year at most		VI2	144,816	-73.3%	543,350	-4.2%	567,031
More than 1 year and 5 years at most		VI3	600,000	0%	0	0%	0
More 5 years		VI4	300,000	0%	0	0%	0
	Other liabilities (gross)	8K1	988,934	-19.5%	1,229,221	-9.7%	1,361,788
1 year at most		8K2	984,971	-19.6%	1,225,257	-9.8%	1,357,824
More than 1 year and 5 years at most		8K3	3,963	0.0%	3,964	0%	3,964
	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	13,591	-12.5%	15,532	-1.2%	15,722
1 year at most		8L2	13,591	-12.5%	15,532	-1.2%	15,722
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	11,705,000	0%	0	0%	5,000,000
Debt repaid during the period	VK	1,019,544	4.0%	980,456	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2012		31/12/2011		31/12/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		31/12/2010
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	3,374,181	-19.9%	4,210,296	-4.6%	4,413,670
Effects brought to the discount and unmatured	YS	442,563	-61.1%	1,138,175	0%	0

Other charges Externes

		31/12/2012		31/12/2011		31/12/2010
Subcontracting	YT	580,934	-28.4%	811,104	21.4%	667,961
Rentals, rental charges and condominiums	XQ	793,304	-23.1%	1,031,955	-11.7%	1,168,089
Staff outside the company	YU	61,370	-41.6%	105,162	1.5%	103,567
Remuneration intermediaries and fees (excluding fees)	SS	229,224	88.3%	121,757	18.2%	102,998
Fees, commissions and brokerage	YV	36,527	-1.5%	37,099	1.5%	36,565
Other accounts	ST	2,879,222	-12.6%	3,292,476	-0.6%	3,312,595
Total Other purchases and external	ZJ	4,580,582	545.8%	5,399,553	0.1%	5,391,775

Taxes and Fees

		31/12/2012		31/12/2011		31/12/2010
Business tax	YW	243,520	-11.5%	275,107	0%	0
Other taxes and payments assimilated	9Z	434,000	0.0%	434,163	-38.1%	701,763
Total taxes and fees	YX	677,520	-4.5%	709,270	1.1%	701,763

VAT

		31/12/2012		31/12/2011		31/12/2010
Amount VAT collected	YY	8,653,542	-19.2%	10,708,951	5.6%	10,139,441
Total VAT on goods and services	YZ	9,138,144	-23.0%	11,867,925	11.3%	10,663,609

Average number of employees

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	95	-17.4%	115	-8.0%	125

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
Groups and Shareholders	ZR	01	-	01	-	-

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		31/12/2010	Sector Median2012
Fixed Asset Financing		2.79	43.8%	1.94	-0.5%	1.95	2.97	-6.1%
Global Debt		158days	-4.2%	165days	2.5%	161days	87days	81.6%
Working Capital Fund overall net		108days	129.8%	47days	-11.3%	53days	66days	63.6%
Financial independence		35.31%	24.3%	28.40%	-3.2%	29.35%	819.05%	-95.7%
More ratios
Solvability		16.99%	46.0%	11.64%	-6.4%	12.44%	40.86%	-58.4%
Capacity debt futures		149.13%	356.9%	32.64%	-11.2%	36.77%	1858.33%	-92.0%
Coverage of current assets by net working capital overall		41.30%	114.3%	19.27%	-11.3%	21.72%	49.87%	-17.2%
General Liquidity		0.52	30.0%	0.40	11.1%	0.36	0.80	-35.0%
Restricted Liquidity		1.09	67.7%	0.65	-3.0%	0.67	1.22	-10.7%

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital		105days	18.0%	89days	6.0%	84days	37days	183.8%
Treasury		33days	213.8%	-29days	-52.6%	-19days	12days	175.0%
Inventory turnover of goods		140days	12.9%	124days	0%	124days	50.50days	177.2%
Average length of credit granted to customers		41days	-30.5%	59days	28.3%	46days	54days	-24.1%
Average length of credit obtained suppliers		46days	-28.1%	64days	16.4%	55days	51days	-9.8%
More ratios
Inventory turnover of raw materials in industrial enterprises		22days	10.0%	20days	5.3%	19days	0days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		658days	-17.1%	794days	12.5%	706days	675days	-2.5%
Rotation tangible assets		658.13%	-17.1%	793.83%	12.5%	705.78%	1352.53%	-51.3%

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading		11.74%	-5.1%	12.37%	-14.8%	14.52	16.93%	-30.7%
Profitability of the business		1.45	-26.8%	1.98	-28.0%	2.75	3.07%	-52.8%
Net profit		1.07%	181.6%	0.38%	65.2%	0.23%	1.95%	-45.1%
More ratios
Growth rate of turnover (excluding VAT)		-17.80%	-245.2%	12.26%	-67.7%	37.91%	-1.40%	-1171.4%
Rates integration		9.50%	3.0%	9.22%	-17.0%	11.11%	15.33%	-38.0%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		73.95%	7.3%	68.92%	0.9%	68.33%	65.31%	13.2%
Weight interests		5.42	230.5%	1.64%	-49.7%	3.26%	0.18%	2911.1%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability		-3.57%	-282.1%	1.96%	-24.9%	2.61%	2.48%	-244.0%
Rates of economic profitability		4%	-42.9%	7%	-22.2%	9%	12%	-66.7%
Financial profitability		5895537%	13.2%	5208286%	6.0%	4914602%	407815.50%	1345.6%
Return on investment		17.96%	168.9%	6.68%	-40.1%	11.16%	10.08%	78.2%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Turnover	65,488,117	-17.8%	79,666,404	12.3%	70,964,945	2,171,070 €	2916.4%

Sales of goods	61,258,905	-18.2%	74,869,359	13.0%	66,244,375
- Purchase of goods	52,079,170	-23.6%	68,196,181	14.1%	59,778,958
+/- Stock of goods variation	1,492,653	146.9%	-3,182,373	17.1%	-3,839,424
Trading margin	7,687,082 €	-22.0%	9,855,551 €	-4.4%	10,304,841 €	290,124.50 €	2549.6%
	11.74 % CA	-5.1%	12.37 % CA	-14.8%	14.52 % CA	17.65 % CA	-33.5%

Sale of goods produced	4,229,212	-11.8%	4,797,045	1.6%	4,720,569
+/- Stocked production	91,900	114.0%	-655,950	-696.3%	110,000
+ Self-constructed assets	0	0%	0	0%	0
Period production	4,321,112 €	4.3%	4,141,095 €	-14.3%	4,830,569 €	59,737.50 €	7133.5%
	6.60 % CA	26.9%	5.20 % CA	-23.6%	6.81 % CA	2.71 % CA	143.5%

Trading margin	7,687,082	-22.0%	9,855,551	-4.4%	10,304,841	290,124.50	2549.6%
+ Period Production	4,321,112	4.3%	4,141,095	-14.3%	4,830,569	59,737.50	7133.5%
- Purchase of raw materials	1,107,343	-25.9%	1,494,609	1.9%	1,466,792
+/- Change in stocks of raw materiels	96,885	139.9%	-243,036	-161.8%	393,030
- Other external purchases and charges	4,580,582	-15.2%	5,399,553	0.1%	5,391,775
Added value	6,223,384 €	-15.3%	7,345,520 €	-6.8%	7,883,813 €	333,927 €	1763.7%
	9.50 % CA	3.0%	9.22 % CA	-17.0%	11.11 % CA	15.33 % CA	-38.0%

Added value	6,223,384 €	-15.3%	7,345,520 €	-6.8%	7,883,813 €	333,927 €	1763.7%
+ Operating grants	3,907	73.6%	2,250	-98.6%	155,286
- Tax, duty and similar payments	677,520	-4.5%	709,270	1.1%	701,763
- Personal charges	4,602,308	-9.1%	5,062,847	-6.0%	5,386,687
Gross operating surplus	947,463 €	-39.9%	1,575,653 €	-19.2%	1,950,649 €	54,289.50 €	1645.2%
	1.45 % CA	-26.8%	1.98 % CA	-28.0%	2.75 % CA	3.07 % CA	-52.8%

Gross operating surplus	947,463 €	-39.9%	1,575,653 €	-19.2%	1,950,649 €	54,289.50 €	1645.2%
+ Release of reserves and provisions	91,242	292.9%	23,223	-80.0%	115,899
+ Other operating income	136,881	-34.2%	208,010	-27.5%	287,055
- Depreciation/Amortisation	446,337	-10.1%	496,641	-10.1%	552,253
- Other charges	107,852	200.6%	35,873	-59.6%	88,759
Operating result	621,397 €	-51.2%	1,274,372 €	-25.6%	1,712,591 €	39,652.50 €	1467.1%
	0.95 % CA	-40.6%	1.60 % CA	-33.6%	2.41 % CA	2.36 % CA	-59.7%

Operating result	621,397 €	-51.2%	1,274,372 €	-25.6%	1,712,591 €	39,652.50 €	1467.1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	3,549,935	1214.4%	270,085	-64.7%	765,786
- Financial charges	3,546,512	171.1%	1,308,333	-43.5%	2,315,829
Pre-tax result	624,820 €	164.6%	236,124 €	45.3%	162,548 €	39,101.50 €	1497.9%
	0.95 % CA	216.7%	0.30 % CA	30.4%	0.23 % CA	2.22 % CA	-57.2%

Extraordinary income	97,018	-30.8%	140,212	35.5%	103,456	902.50	10649.9%
- Extraordinary charges	23,683	-68.8%	76,018	-26.8%	103,912
Extraordinary result	73,335 €	14.2%	64,194 €	14177.6%	-456 €	0 €	0%
	0.11 % CA	37.5%	0.08 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	624,820 €	164.6%	236,124 €	45.3%	162,548 €	39,101.50 €	1497.9%
Extraordinary result	73,335 €	14.2%	64,194 €	14177.6%	-456 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-1,472	14.8%	-1,728	46.0%	-3,200
Net result	699,627 €	131.6%	302,046 €	82.7%	165,292 €	37,940.50 €	1744.0%
	1.07 % CA	181.6%	0.38 % CA	65.2%	0.23 % CA	1.95 % CA	-45.1%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
26/03/2014	Bodacc A	Vente et cession : Acheteur
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 1629 - 775 654 742 RCS Annecy. ETABLISSEMENTS PLANCHER. Forme : Société Anonyme à Conseil d'Administration. Capital : 2000000 EUR. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3, 74131 Bonneville. Origine du fonds : Etablissement principal acquis par achat au prix stipulé de 205000 EUR. Etablissement : Etablissement principal. Activité : Imprimerie générale, manufacture d'enveloppes, édition, fabrication calendriers, articles de publicité, édition et publication du journal hebdomadaire. Commerce et représentation de métaux et de leurs dérivés. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3, 74131 Bonneville. Précédent propriétaire : DONCHE GAY METAUX. 606 920 635 RCS Annecy. Date de commencement de l’activité : 01/01/1961. Publication légale : Le Faucigny du 30/01/2014. Oppositions : Cabinet d'avocats Laurencin & associés, 47 rue du Val Vert 74600 SEYNOD. Descriptif : Modification de l'activit¿. Achat sans droit au bail d'un fonds de commerce et repr¿sentation de m¿taux et de leurs d¿riv¿s. Commentaires : Autre achat, apport, attribution.
05/03/2014	Bodacc B	Modification et mutation diverse
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 2170 - 775 654 742 RCS Annecy. ETABLISSEMENTS PLANCHER. Forme : Société Anonyme à Conseil d'Administration. Administration : PLANCHER Pierre nom d'usage : PLANCHER n'est plus président du conseil d'administration. PLANCHER Pierre nom d'usage : PLANCHER n'est plus administrateur. PLANCHER Charles nom d'usage : PLANCHER n'est plus directeur général. PLANCHER Charles nom d'usage : PLANCHER devient président du conseil d'administration. GLIERE Marie-Sylvie Marcelle nom d'usage : PERROTTON devient directeur général. KADDOUR Mohamed Malek nom d'usage : KADDOUR devient administrateur. Activité : . Commentaires : Modification de l'administration.
30/01/2014	JAL	Activity or goodwill cession: Buyer
Faucigny (Le) Date de décision : 15/01/2014 Cédant : 606920635 - DONCHE-GAY METAUX, 38 RUE GENEVI ANTHONIOZ DE GAULLE, 74300 CLUSES Cessionnaire : 775654742 - ETABLISSEMENTS PLANCHER, 223 RUE DES CYGNES, ZI DES BORDETS BP 3, 74130 BONNEVILLE Prix de vente : 205000 € Date d’effet : 01/01/2014
25/01/2014	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 10511 - 775654742 RCS. ETABLISSEMENTS PLANCHER. Forme : Société Anonyme. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3 74131 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
09/01/2014	JAL	Resignation / Revocation of the social representative
Faucigny (Le) Date de décision : 18/10/2013 La société 775654742 - ETABLISSEMENTS PLANCHER, 223 RUE DES CYGNES, ZI DES BORDETS BP 3, 74130 BONNEVILLE Fait l'objet du départ de Monsieur Pierre PLANCHER, De Monsieur Pierre PLANCHER, De Monsieur Charles PLANCHER
09/01/2014	JAL	Appointment of the social representative
Faucigny (Le) Date de décision : 18/10/2013 Société faisant l'objet d'une nomination : 775654742 - ETABLISSEMENTS PLANCHER, 223 RUE DES CYGNES, ZI DES BORDETS BP 3, 74130 BONNEVILLE Nominé : Monsieur Charles PLANCHER En la fonction de : Président du Conseil d'Administration Nominé : Monsieur Mohamed Malek KADDOUR En la fonction de : Administrateur Nominé : Non renseignée Marie-Sylvie PERROTTON En la fonction de : Directeur général
19/12/2013	JAL	Appointment of the social representative
Faucigny (Le) Date de décision : 18/10/2013 Société faisant l'objet d'une nomination : 775654742 - ETABLISSEMENTS PLANCHER, 223 RUE DES CYGNES, ZI DES BORDETS BP 3, 74130 BONNEVILLE Nominé : Monsieur Charles PLANCHER, 74930 REIGNIER En la fonction de : Président du Conseil d'Administration Nominé : Madame Sylvie PERROTTON, 74930 REIGNIER En la fonction de : Directeur général
04/09/2012	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 10485 - 775654742 RCS. PLANCHER. Forme : Société Anonyme. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3 74131 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
13/09/2011	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 8486 - 775654742 RCS. PLANCHER. Forme : Société Anonyme. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3 74131 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
20/12/2010	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 13155 - 775654742 RCS. PLANCHER. Forme : Société Anonyme. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3 74131 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
01/03/2010	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE COMMERCE D'ANNECY 6582 - 775654742 RCS. PLANCHER. Forme : Société Anonyme. Adresse : 223 rue DES CYGNES - ZI DES BORDETS BP3 74131 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
29/11/2008	Bodacc C	Comptes annuels et rapports
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE DE BONNEVILLE 3039 - 775654742 RCS. PLANCHER. Forme : S.A. Adresse : 223, rue des Cygnes, ZI des BOrdets, BP 3, 74130 Bonneville. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
13/07/2008	Bodacc B	Modification et mutation diverse
74 - HAUTE-SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE DE BONNEVILLE 1448 - 775 654 742 RCS Bonneville. PLANCHER. Forme : S.A. Capital : 2000000 EUR. Activité : non précisée. Adresse du siège social : 223 route des Cycnes, ZI des Bordets, 3 74131 Bonneville. Commentaires : transfert du siège social et de l'établissement principal (ancienne adresse : avenue de la Gard, 74130 Bonneville), date d'effet : 31/08/2008.
24/04/2007	Bodacc C	Avis de dépôt des comptes
2723 - RCS Bonneville B 775 654 742. RC 62-B 11. ETABLISSEMENTS PLANCHER. Forme: S.A. Adresse du siège social: avenue de la Gare,74130 Bonneville. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
26/10/2005	Bodacc C	Avis de dépôt des comptes
3584 - RCS Bonneville B 775 654 742. RC 62-B 11. ETABLISSEMENTS PLANCHER. Forme: S.A. Adresse du siège social: avenue de la Gare,74130 Bonneville. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
15/09/2004	Bodacc B	Modifications et mutations diverses
RCS Bonneville 775654742 RC 62-B 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 2 000 000 d'euros. Adresse du siège social : avenue de la Gare, 74130 Bonneville. Administration : nouveau commissaire aux comptes titulaire : THOMASSON (Michel). Ancien commissaire aux comptes titulaire : KRUGER (Hervé). Nouveau commissaire aux comptes suppléant : ANTHONIOZ (Claude). Ancien commissaire aux comptes suppléant : GRT CONSULTANTS. Date d'effet : 28 juin 2004.
20/12/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Bonneville B 775654742 RC 62-B 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 10 000 000 de F. Adresse : avenue de la Gare, 74130 Bonneville Nouvelle situation du siège social. Capital : 2 000 000 d'euros. Commentaires : augmentation du capital et conversion en euros. Date d'effet : 26 septembre 2001.
11/07/2001	Bodacc B	Modifications et mutations diverses
RCS Bonneville B 775654742 RC 62-B 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 10 000 000 de F. Adresse du siège social : avenue de la Gare, 74130 Bonneville. Administration : ancien commissaire aux comptes titulaire : KRUGER (Gérard). Ancien commissaire aux comptes suppléant : SEVE (Maurice). Nouveau commissaire aux comptes titulaire : KRUGER (Hervé). Ancien commissaire aux comptes suppléant : G.R. T. CONSULTANTS. Date d'effet : 24 avril 2001.
13/09/1996	Bodacc B	Modifications et mutations diverses
RCS Bonneville B 775654742 RC 62-b 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 10 000 000 de F. Adresse du siège social : avenue de la Gare, 74130 Bonneville. Administration : modification de composition du conseil d' administration. Nomination d'un nouvel administrateur : Mme PLANCHER (Lucette). Date d'effet : 10 juin 1996.
25/10/1995	Bodacc B	Modifications et mutations diverses
RCS Bonneville B 775 654 742 RC 62-B 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 10 000 000 de F (fixe). Adresse du siège social : avenue de la Gare, 74130 Bonneville. Administration : ancien administrateur : Mme PLACHER (Gabrielle) nouvel administrateur : MOHSEN (Zeineb). Date d'effet : 7 aout 1995.
16/03/1995	Bodacc B	Modifications et mutations diverses
RCS. RCS Bonneville B 775 654 742 RC RC 62-B 11 ETABLISSEMENTS PLANCHER. Forme : S.A. Capital : 10 000 000 de F (fixe). Adresse du siège social : avenue de la Gare 74130 Bonneville. Administration : départ de Mme CHABANEL (Anne-Marie) du conseil d'administration. Date d'effet : 31 mai 1991.

Company events history

Date	Description
26/03/2014	Bodacc A : Sale and transfer
05/03/2014	Bodacc B: Various editing or changing
28/01/2014	Minutes of general meeting of shareholders
28/01/2014	Amendment
25/01/2014	Bodacc C : Deposit accounts notice
15/01/2014	Legal Gazette: Activity or goodwill cession: Buyer
09/01/2014	Legal Gazette: Resignation / Revocation of the social representative
03/01/2014	Update Limit
03/01/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
19/10/2013	Update Limit
19/10/2013	Update Rating
18/10/2013	Legal Gazette: Appointment of the social representative
03/08/2013	Update Limit
03/08/2013	Update Rating
26/06/2013	Application and court order
02/02/2013	New parent detected
31/12/2012	New accounts available
04/09/2012	Bodacc C : Deposit accounts notice
10/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2011	New accounts available
13/09/2011	Bodacc C : Deposit accounts notice
06/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
20/12/2010	Bodacc C : Deposit accounts notice
01/03/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
31/12/2008	New accounts available
29/11/2008	Bodacc C : Deposit accounts notice
07/08/2008	Registered office transferred inside jurisdiction of the Commercial Court
07/08/2008	Statuts mis à jour
07/08/2008	Updated articles of association
07/08/2008	Minutes of general meeting of shareholders
07/08/2008	PV d'Assemblée
07/08/2008	Private document
13/07/2008	Bodacc B: Various editing or changing
13/07/2008	New Bodacc B ads detected
17/04/2008	Updated articles of association
17/04/2008	Registered office transferred inside jurisdiction of the Commercial Court
17/04/2008	Minutes of Board meeting
17/04/2008	Private document
17/04/2008	Acte modificatif
17/04/2008	Statuts mis à jour
31/03/2008	Update of Company Head Office Identifier
31/03/2008	Transfer of Establishment
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
18/08/2004	New auditor
18/08/2004	Changement de Commissaire aux Comptes
18/08/2004	Acte sous seing privé
18/08/2004	Nomination/démission des organes de gestion
18/08/2004	Appointment/resignation of company officers
18/08/2004	Private document
18/08/2004	PV d'Assemblée
18/08/2004	Minutes of general meeting of shareholders
31/12/2003	New accounts available
21/11/2001	Statuts mis à jour
21/11/2001	PV d'Assemblée
21/11/2001	Acte sous seing privé
21/11/2001	Conversion du Capital Social en Euros
21/11/2001	Augmentation de Capital
23/05/2001	Acte sous seing privé
23/05/2001	Changement de Commissaire aux Comptes
23/05/2001	Nomination/démission des organes de gestion
23/05/2001	PV d'Assemblée
25/07/1996	Acte modificatif
25/07/1996	PV d'Assemblée
01/01/1996	PV du Conseil d'Administration
01/01/1996	PV d'Assemblée
14/09/1995	Acte modificatif
14/09/1995	PV d'Assemblée
12/01/1995	Statuts mis à jour
12/01/1995	PV d'Assemblée
01/01/1995	PV d'Assemblée
01/01/1995	Statuts mis à jour
01/01/1995	Augmentation de Capital
01/01/1995	PV du Conseil d'Administration
01/01/1995	Nomination/démission des organes de gestion
01/01/1995	Modification du Conseil d'Administration
09/09/1993	PV d'Assemblée
01/01/1993	PV d'Assemblée

Establishment events history

Date	Description
23/02/2014	Update of phone numbers
03/01/2014	Update Limit
03/01/2014	Update Rating
05/10/2013	Update Limit
07/09/2013	Update Rating
10/08/2012	Update Limit
26/01/2012	Update Rating
14/11/2011	Update Rating
06/09/2011	Update Limit
06/09/2011	Update Rating
24/11/2010	Update Limit
24/11/2010	Update Rating
02/10/2010	Update Limit
02/10/2010	Update Rating
03/02/2010	Update Limit
03/02/2010	Update Rating
30/12/2009	Update Rating
11/10/2009	Update Limit
05/09/2009	Update Rating
16/10/2008	Update Rating
16/10/2008	Update Limit
14/10/2008	Update Limit
08/09/2008	Update Rating
19/05/2008	Update of phone numbers
31/03/2008	Formation of Head office (after transfer)

directors

Name	M. PLANCHER CHARLES
Manager position	Chairman of the Board, Administrator	Date of birth	10/07/1948
Place of birth	BONNEVILLE(74)
Type	Individual	Name at birth

Name	Mme. MOHSEN ZEINEB
Manager position	Administrator	Date of birth	12/09/1942
Place of birth	TUNIS(TUNISIE)
Type	Individual	Name at birth

Name	Mme. PLANCHER LUCE
Manager position	Administrator	Date of birth	08/03/1950
Place of birth	LE PONT DE BEAUVOISIN(38)
Type	Individual	Name at birth	CHAMARD

Name	M. KADDOUR MOHAMED MALEK
Manager position	Administrator	Date of birth	08/11/1953
Place of birth	TUNIS(TUNISIE)
Type	Individual	Name at birth

Name	Mme. PERROTTON MARIE-SYLVIE MARCELLE
Manager position	Managing director	Date of birth	19/01/1962
Place of birth	SCIONZIER(74)
Type	Individual	Name at birth	GLIERE

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Chairman of the Board	M PIERRE PLANCHER	- - -
Chairman of the Board	M PIERRE PLANCHER	5/20/1943 - BONNEVILLE(74)
Managing director	M CHARLES PLANCHER	- - -
Managing director	M CHARLES PLANCHER	7/10/1948 - BONNEVILLE(74)
Administrator	M MOHAMED MALEK KADDOUR	1/19/1962 - TUNIS(TUNISIE)
Administrator	M CHARLES PLANCHER	- - -
Administrator	Mme LUCETTE PLANCHER	3/8/1950 - PONT DE BEAUVOISIN(38)
Administrator	M PIERRE PLANCHER	- - -
Administrator	M PIERRE PLANCHER	5/20/1943 - BONNEVILLE(74)

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.19
UK Pound	1	Rs.103.15
Euro	1	Rs.81.87

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	MNL

RATING EXPLANATIONS

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

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

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

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

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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.