MIRA INFORM REPORT

Report Date :

24.07.2014

IDENTIFICATION DETAILS

Name :	TEREX CRANES FRANCE
Registered Office :	Zi De La Saule, Bp 106, 71304 Montceau Les Mines Cedex
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	January 1968
Com. Reg. No.:	RCS Chalon-sur-Saone 0 726 820 236
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacturer of lifting and handling Equipment’s
No of Employees :	305 (31.12.2010)

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

Name

TEREX CRANES FRANCE

SIRET

726 820 236 00016

Activity (APE)	Manufacturer of lifting and handling Equipment’s	EUR VAT Number	FR48726820236
Phone		Legal form	Simplified joint stock company
Fax		RCS Registration	RCS Chalon-sur-Saone 0 726 820 236
Address	TEREX CRANES FRANCE ZI DE LA SAULE BP 106 71304 MONTCEAU LES MINES CEDEX	Share capital	7,530,508 Euros
Nationality	France	Incorporated Date	08/1968
		Status	Economically active

No social security and tax office preferential right to date

Current Directors

2

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	136,137,624 €	135,322,657 €	121,892,474 €
Gross Operating Surplus	3.79 % Turnover	3.73 % Turnover	0.41 % Turnover
Shareholders’ equity	54,698,763 €	52,743,465 €	50,647,582 €
Net result	1,616,279 €	1,731,286 €	10,732,443 €
Employees	305 (31.12.2010)	-	-

Trends
Profitability
Liquidity
Net worth

company details

Activity (APE)	Manufacturer of lifting and handling Equipment’s
RCS Registration	RCS Chalon-sur-Saone 0 726 820 236	Share capital	7,530,508 Euros
Registration Court	Chalon-sur-Saone (71)	Legal form	Simplified joint stock company
Court Registry Number	20 0 0B70632	EUR VAT Number	FR48726820236
Incorporation Date	08/1968	Formation Date	01/1968
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Manufacturer of lifting and handling Equipment’s	Business Pages FT®
Postal Address	TEREX CRANES FRANCE ZI DE LA SAULE BP 106 71304 MONTCEAU LES MINES CEDEX	Trading Address	ZI DE LA SAULE 71300 MONTCEAU LES MINES

Type	Head office	Status	Economically active
Formation Date	01/1900	Reason for formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Saône-et-Loire (71)	Region	Bourgogne
District	2	Area	97
City	MONTCEAU LES MINES	Size of urban area

Other establishments

Branches	3 branch entities in this company
Head office	> TEREX CRANES FRANCE <<< - Fabrication de matériel de levage et de manutention (2822Z) in MONTCEAU LES MINES (71300)
Secondary establishments	> TEREX CRANES FRANCE - Fabrication de matériel de levage et de manutention (2822Z) in SAINT VALLIER (71230) > TEREX CRANES FRANCE - Fabrication de matériel de levage et de manutention (2822Z) in VILLEPINTE (93420) > TEREX CRANES FRANCE - Fabrication de matériel de levage et de manutention (2822Z) in COLLEGIEN (77090) > TEREX CRANES FRANCE - Fabrication de matériel de levage et de manutention (2822Z) in BUSSY SAINT GEORGES (77600) > ...

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

Workforces

Workforce at address

305 (31.12.2010)

Company workforce

305 (31.12.2010)

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	18/10/2013	05/06/2013	18/01/2012
Activity Code	2822Z	2822Z	2822Z
Employees	0	0	305

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	47,985,342	149.9%	19,201,673	12.2%	17,117,403	91,456.50	52367.9%
- Intangible assets	352,918	5.1%	335,875	3.2%	325,308	3,000	11663.9%
- Tangible assets	8,878,649	2.1%	8,695,817	27.4%	6,824,429	44,113	20027.1%
- Financial assets	38,774,544	280.5%	10,190,749	2.1%	9,984,147	3,503	1106795.3%
Net current assets	62,403,912	-26.1%	84,465,934	-6.0%	89,848,081	703,317.50	8772.8%
- Stocks	35,098,656	-5.3%	37,056,536	2.5%	36,169,319	107,004	32701.3%
- Advanced payments	111,883	-26.1%	704,996	1374.3%	47,819	0	0%
- Receivables	20,195,222	-54.5%	44,407,754	-12.0%	50,469,521	341,988.50	5805.2%
- Securities and cash	6,998,151	204.7%	2,296,648	-27.4%	3,161,422	113,662	6057.0%
- Prepaid expenses	-	-	-	-	-	639	-
Accounts of regularization	17,482	-64.0%	48,617	236.6%	14,444	0	0%
Total Assets	110,406,737	6.5%	103,716,221	-3.1%	106,979,930	928,924	11785.4%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	54,698,763	3.7%	52,743,465	4.1%	50,647,582	266,371	20434.8%
Share capital	7,530,508	0%	7,530,508	0%	7,530,508	72,000	10359.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	3,660,336	-1.0%	3,698,453	3.1%	3,585,618	0	0%
Liabilities	52,035,226	10.1%	47,260,585	-10.4%	52,720,352	455,966	11312.1%
- Financial liabilities	27,329,638	66.4%	16,427,277	1.7%	16,155,809	49,996.50	54563.1%
- Advanced payments received	3,119,066	0.1%	3,117,373	201.3%	1,034,590	0	0%
- Trade account payables	17,094,264	-14.7%	20,039,202	-30.7%	28,906,990	161,601.50	10478.0%
- Tax and social liabilities	3,711,115	-17.7%	4,507,455	19.5%	3,773,179	151,551	2348.8%
- Other debts and fixed assets liabilities	558,372	-43.4%	986,336	32.5%	744,561	6,705.50	8227.1%
Account regularization	235,183	-89.3%	2,196,656	3.1%	2,131,600	0	0%
Total liabilities	110,406,737	6.5%	103,716,221	-3.1%	106,979,930	928,924	11785.4%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	140,261,027	0.9%	138,990,083	10.0%	126,301,153	1,386,687	10014.8%
Net turnover	136,137,624	0.6%	135,322,657	11.0%	121,892,474	1,372,082.50	9822.0%
- of which net export turnover	72,676,494	-14.0%	84,477,173	13.5%	74,417,994	0	0%
Operating charges	135,474,444	0.8%	134,418,008	7.6%	124,952,960	1,359,273	9866.7%
Operating profit/loss	4,786,583	4.7%	4,572,075	239.1%	1,348,193	33,197.50	14318.5%
Financial income	368,426	-48.8%	720,185	-93.6%	11,266,875	653	56320.5%
Financial charges	1,671,313	4.1%	1,605,942	52.9%	1,050,017	2,192.50	76128.6%
Financial profit/loss	-1,302,887	-47.1%	-885,757	-108.7%	10,216,858	-412.50	-315751.4%
Pretax net operating income	3,483,696	-5.5%	3,686,318	-68.1%	11,565,051	33,719.50	10231.4%
Extraordinary income	619,077	1.8%	608,289	52.5%	399,001	2,500	24663.1%
Extraordinary charges	1,605,392	5.8%	1,516,770	44.6%	1,049,243	1,464	109557.9%
Extraordinary profit/loss	-986,315	-8.6%	-908,481	-39.7%	-650,242	0	0%
Net result	1,616,279	-6.6%	1,731,286	-83.9%	10,732,443	30,676	5168.9%

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	110,406,737	6.5%	103,716,221	-3.1%	106,979,930
	Gross	CO	134,635,252	4.8%	128,455,666	-2.6%	131,924,644
	Amortisation	1A	24,228,515	-2.1%	24,739,445	-0.8%	24,944,714

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	47,985,342	149.9%	19,201,673	12.2%	17,117,403
	Gross	BJ	68,518,738	74.7%	39,225,161	6.2%	36,919,081
	Amortisation	BK	20,533,396	2.5%	20,023,488	1.1%	19,801,678

Intangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Start-up cost	Net	16,481	0%	16,481	0%	16,481
	Gross	AB	16,481	0%	16,481	0%	16,481
	Amortisation	AC	16,481	0%	16,481	0%	16,481
	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	32,149	112.8%	15,107	71.1%	8,827
	Gross	AF	353,115	-6.8%	379,025	1.2%	374,603
	Amortisation	AG	320,966	-11.8%	363,918	-0.5%	365,776
	Goodwill	Net	304,288	0.0%	304,287	1.4%	300,000
	Gross	AH	304,288	0.0%	304,287	0.0%	304,288
	Amortisation	AI	4,288	0.0%	4,287	0.0%	4,288
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	352,918	5.1%	335,875	3.2%	325,308

Tangible fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Lands	Net	1,824,203	0.0%	1,823,585	318.5%	435,752
	Gross	AN	2,488,785	3.6%	2,402,101	114.8%	1,118,421
	Amortisation	AO	664,582	14.9%	578,516	-15.3%	682,669
	Buildings	Net	3,455,153	17.0%	2,952,923	29.7%	2,276,143
	Gross	AP	13,176,040	6.4%	12,383,487	6.1%	11,674,800
	Amortisation	AQ	9,720,887	3.1%	9,430,564	0.3%	9,398,657
	Plant	Net	3,204,525	-8.5%	3,500,582	-6.4%	3,741,562
	Gross	AR	12,166,016	0.6%	12,090,072	1.2%	11,940,904
	Amortisation	AS	8,961,491	4.3%	8,589,490	4.8%	8,199,342
	Other tangible fixed assets	Net	192,419	-13.2%	221,603	5.7%	209,571
	Gross	AT	1,000,120	-18.3%	1,224,835	-6.3%	1,307,036
	Amortisation	AU	807,701	-19.5%	1,003,232	-8.6%	1,097,465
	Fixed assets in construction	Net	202,349	2.7%	197,124	22.1%	161,401
	Gross	AV	202,349	2.7%	197,124	22.1%	161,401
	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	8,878,649		8,695,817		6,824,429

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	28,581,828	0%	0	0%	0
	Gross	CU	28,618,828	77248.2%	37,000	0%	37,000
	Amortisation	CV	37,000	0%	37,000	0%	37,000
	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	9,995,697	0.7%	9,922,188	0.5%	9,875,758
	Gross	BF	9,995,697	0%	9,922,188	0%	9,875,758
	Amortisation	BG	0		0		0
	Other financial assets	Net	197,019	-26.6%	268,561	147.8%	108,389
	Gross	BH	197,019	-26.6%	268,561	147.8%	108,389
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		38,774,544		10,190,749		9,984,147

Current Assets (III)

			31/12/2012		31/12/2011		31/12/2010
	Total Assets	Net	62,403,912	-26.1%	84,465,934	-6.0%	89,848,081
	Gross	CJ	66,099,031	-25.9%	89,181,886	-6.1%	94,991,118
	Amortisation	CK	3,695,119	-21.6%	4,715,952	-8.3%	5,143,037

Stocks

			31/12/2012		31/12/2011		31/12/2010
	Raw materials	Net	13,232,264	-13.9%	15,366,152	0.6%	15,278,575
	Gross	BL	14,105,976	-13.0%	16,215,773	1.5%	15,983,750
	Amortisation	BM	873,712	2.8%	849,621	20.5%	705,175
	Work in progress (goods)	Net	7,802,928	-2.0%	7,960,053	28.6%	6,187,891
	Gross	BN	7,802,928	-2.0%	7,960,053	28.6%	6,187,891
	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	6,109,401	16.9%	5,226,102	-8.6%	5,715,125
	Gross	BR	6,284,317	17.6%	5,342,127	-13.3%	6,162,903
	Amortisation	BS	174,916	50.8%	116,025	-74.1%	447,778
	Goods for resale	Net	7,954,063	-6.5%	8,504,229	-5.4%	8,987,728
	Gross	BT	10,139,575	-6.2%	10,811,006	-4.0%	11,264,771
	Amortisation	BU	2,185,512	-5.3%	2,306,777	1.3%	2,277,043
	Sub Total Stocks	Net	35,098,656	-5.3%	37,056,536	2.5%	36,169,319

Advance payments to suppliers

			31/12/2012		31/12/2011		31/12/2010
	Advance payments to suppliers	Net	111,883	-84.1%	704,996	1374.3%	47,819
	Gross	BV	111,883	-84.1%	704,996	1374.3%	47,819
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2012		31/12/2011		31/12/2010
	Trade accounts receivable	Net	18,313,052	-10.4%	20,430,133	-16.0%	24,312,474
	Gross	BX	18,774,031	-14.2%	21,873,662	-16.0%	26,025,515
	Amortisation	BY	460,979	-68.1%	1,443,529	-15.7%	1,713,041
	Other debtors	Net	1,852,712	-92.3%	23,934,896	-8.2%	26,061,283
	Gross	BZ	1,852,712	-92.3%	23,934,896	-8.2%	26,061,283
	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	20,165,764	-54.5%	44,365,029	-11.9%	50,373,757

Divers

			31/12/2012		31/12/2011		31/12/2010
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	6,998,151	204.7%	2,296,648	-27.4%	3,161,422
	Gross	CF	6,998,151	204.7%	2,296,648	-27.4%	3,161,422
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	6,998,151	204.7%	2,296,648	-27.4%	3,161,422

Prepaid expenses

			31/12/2012		31/12/2011		31/12/2010
	Prepaid expenses	Net	29,458	-31.1%	42,725	-55.4%	95,764
	Gross	CH	29,458	-31.1%	42,725	-55.4%	95,764
	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	17,482	-64.0%	48,617	236.6%	14,444
Gross		17,482	-64.0%	48,617	236.6%	14,444

References

		31/12/2012		31/12/2011		31/12/2010
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to V)	EE	110,406,737	6.5%	103,716,221	-3.1%	106,979,930

Shareholder Equity (I)

			31/12/2012		31/12/2011		31/12/2010
	Total shareholders' equity (Total I)	DL	54,698,763	3.7%	52,743,465	4.1%	50,647,582
	Equity and shareholders' equity	DA	7,530,508	0%	7,530,508	0%	7,530,508
	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	753,051	0.0%	753,050	0.0%	753,051
	Statutory or contractual reserve	DE	1,863,310	0%	1,863,310	0%	1,863,310
	Special regulated reserves	DF	128,662	0.0%	128,661	0.0%	128,662
	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	40,246,503	4.5%	38,515,216	38.6%	27,782,773
	Profit or loss for the period	DI	1,616,279	-6.6%	1,731,286	-83.9%	10,732,443
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	2,560,450	15.3%	2,221,434	19.6%	1,856,835

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	3,660,336	-1.0%	3,698,453	3.1%	3,585,618
	Risk provisions	DP	1,525,330	-10.0%	1,695,046	2.2%	1,658,472
	Reserves for charges	DQ	2,135,006	6.6%	2,003,407	4.0%	1,927,146

Liabilities (IV)

			31/12/2012		31/12/2011		31/12/2010
	Total Liabilities (Total IV)	EC	52,035,226	10.1%	47,260,585	-10.4%	52,720,352
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	916	-98.9%	83,362	43.1%	58,263
	Sundry loans and financial liabilities	DV	27,328,722	67.2%	16,343,915	1.5%	16,097,546
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	3,119,066	0.1%	3,117,373	201.3%	1,034,590
	Trade accounts payables	DX	17,094,264	-14.7%	20,039,202	-30.7%	28,906,990
	Tax and social security liabilities	DY	3,711,115	-17.7%	4,507,455	19.5%	3,773,179
	Fixed asset liabilities	DZ	18,571	-96.2%	484,365	2432.6%	19,125
	Other debts	EA	527,389	8.0%	488,257	-30.2%	699,059

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	12,412	-9.5%	13,714	-48.0%	26,377

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	235,183	-89.3%	2,196,656	3.1%	2,131,600

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	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result(I-II)

		31/12/2012		31/12/2011		31/12/2010
Operating result (Total I-II)	GG	4,786,583	4.7%	4,572,075	239.1%	1,348,193

2 -Financial result(V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	-1,302,887	-47.1%	-885,757	-108.7%	10,216,858

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	3,483,696	-5.5%	3,686,318	-68.1%	11,565,051

4 -Extraordinary result(VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	-986,315	-8.6%	-908,481	-39.7%	-650,242

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	1,616,279	-6.6%	1,731,286	-83.9%	10,732,443

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	141,248,530	0.7%	140,318,557	1.7%	137,967,029

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	139,632,249	0.8%	138,587,267	8.9%	127,234,587

Operating income(I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	140,261,027	0.9%	138,990,083	10.0%	126,301,153

Operating income (details)

			31/12/2012		31/12/2011		31/12/2010
	Sale of goods for resale	FC	47,693,620	29.5%	36,817,247	-17.1%	44,429,855
	France	FA	31,844,380	61.1%	19,767,869	-22.5%	25,512,308
	Export	FB	15,849,240	-7.0%	17,049,378	-9.9%	18,917,547
	Sale of goods produced	FF	81,644,298	-11.1%	91,882,583	27.7%	71,974,704
	France	FD	29,494,578	-0.2%	29,567,360	44.6%	20,453,583
	Export	FE	52,149,720	-16.3%	62,315,223	21.0%	51,521,121
	Sale of services	FI	6,799,706	2.7%	6,622,827	20.7%	5,487,915
	France	FG	2,122,172	40.5%	1,510,255	0.1%	1,508,589
	Export	FH	4,677,534	-8.5%	5,112,572	28.5%	3,979,326
	Net turnover	FL	136,137,624	0.6%	135,322,657	11.0%	121,892,474
	France	FJ	63,461,130	24.8%	50,845,484	7.1%	47,474,480
	Export	FK	72,676,494	-14.0%	84,477,173	13.5%	74,417,994
	Stocked production	FM	785,065	-17.5%	951,386	588.4%	-194,810
	Self-constructed assets	FN	0	0%	8,037	-87.2%	62,648
	Operating grants	FO	800	-97.6%	33,905	-20.9%	42,860
	Release of reserves and provisions	FP	2,651,860	17.8%	2,251,094	-45.9%	4,162,713
	Other income	FQ	685,678	62.1%	423,004	26.2%	335,269

Operating charges(II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	135,474,444	0.8%	134,418,008	7.6%	124,952,960

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	34,751,702	25.8%	27,614,105	-24.3%	36,496,992
Change in stocks of goods for resale	FT	671,431	48.0%	453,764	-77.9%	2,054,678
Purchase of raw materials	FU	58,228,715	-12.5%	66,533,093	29.1%	51,550,437
Change in stocks of raw materials	FV	2,109,797	1009.3%	-232,023	86.7%	-1,749,095
Other external purchases and charges	FW	18,259,403	-2.1%	18,650,312	9.4%	17,045,411
Tax, duty and similar payments	FX	1,682,871	-3.5%	1,743,159	12.1%	1,555,174
Payroll	FY	11,200,230	0.3%	11,163,455	12.2%	9,953,930
Social security costs	FZ	4,859,170	-9.0%	5,342,033	21.4%	4,400,007

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	1,002,705	20.2%	834,091	16.5%	715,740
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1,341,294	-21.7%	1,712,790	-25.0%	2,285,199
Provisions for risks and charges	GD	278,390	33.4%	208,641	-64.3%	584,082

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	1,088,736	175.9%	394,588	553.2%	60,405

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	368,426	-48.8%	720,185	-93.6%	11,266,875
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	73,509	0.3%	73,308	-26.8%	100,186
	Other interest and similar income	GL	71,180	-79.3%	343,347	197.1%	115,556
	Released provisions and transferred charges	GM	48,618	236.6%	14,444	46.4%	9,868
	Exchange gains	GN	175,119	-39.4%	289,086	-97.4%	11,041,266
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2012		31/12/2011		31/12/2010
	Total financial charge (Total VI)	GU	1,671,313	4.1%	1,605,942	52.9%	1,050,017
	Financial reserves and provisions	GQ	17,482	-64.0%	48,617	236.6%	14,444
	Interest and similar charges	GR	1,435,636	23.6%	1,161,660	116.7%	536,057
	Exchange losses	GS	218,195	-44.9%	395,665	-20.8%	499,516
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary income (Total VII)	HD	619,077	1.8%	608,289	52.5%	399,001
	Extraordinary operating income	HA	44,283	0%	0	0%	143,762
	Extraordinary income from capital transactions	HB	1,200	-98.7%	94,276	1858.8%	4,813
	Released provisions and transferred charges	HC	573,594	11.6%	514,013	105.3%	250,425

Extraordinary charges(VIII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary charges (Total VIII)	HH	1,605,392	5.8%	1,516,770	44.6%	1,049,243
	Extraordinary operating charges	HE	620,054	-4.5%	649,012	76.4%	367,988
	Extraordinary charges from capital transactions	HF	68,368	764.9%	7,905	-0.7%	7,957
	Extraordinary reserves and provisions	HG	916,970	6.6%	859,853	27.7%	673,298

Employee profit sharing(IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	0	0%	37,994	-23.9%	49,935

Tax on profits(X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	881,100	-12.6%	1,008,553	661.6%	132,432

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	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2012		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	0	0%	0	0%	649,000
	Gross value at the end of period	OL	0	0%	0	0%	26,202,000

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	0	0%	0	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	0

Tangible fixed assets (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LN	0	0%	0	0%	25,811,000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	1,040,000
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	649,000
	Gross value at the end of period	NH	0	0%	0	0%	26,202,000

Financial assets (Total IV)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/12/2012		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	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation(Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	19,179,000
Increases		QV	0	0%	0	0%	711,000
Decreases		QW	0	0%	0	0%	513,000
	Decreasess by budget item transfer	QX	0	0%	0	0%	19,377,000

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	0	0%	0	0%	5,481,000
Increases		UB	0	0%	0	0%	1,261,000
Decreases		UC	0	0%	0	0%	1,299,000
	Value at the end of period	UD	0	0%	0	0%	5,443,000

Includes Total allocations

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

Includes Total Withdrawal

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

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	0	0%	0	0%	1,464,000
Increases		TS	0	0%	0	0%	452,000
Decreases		TT	0	0%	0	0%	59,000
	Value at the end of period	TU	0	0%	0	0%	1,857,000

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	5Z	0	0%	0	0%	4,017,000
Increases		TV	0	0%	0	0%	809,000
Decreases		TW	0	0%	0	0%	1,240,000
	Value at the end of period	TX	0	0%	0	0%	3,586,000

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	0	0%	0	0%	0
1 year at most	VU	0	0%	0	0%	0
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	0

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	0	0%	0	0%	0
1 year at most		VZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2012		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	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	0	0%	0
1 year at most		8B2	0	0%	0	0%	0
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	0	0%	0
1 year at most		8D2	0	0%	0	0%	0
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		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	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2012		31/12/2011		31/12/2010
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2012		31/12/2011		31/12/2010
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2012		31/12/2011		31/12/2010
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	0	0%	0	0%	305

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Fixed Asset Financing		1.55	-34.6%	2.37	-2.9%	2.44	2.09	-25.8%
Global Debt		138days	9.5%	126days	-19.2%	156days	116days	19.0%
Working Capital Fund overall net		100days	-30.1%	143days	-8.9%	157days	82.50days	21.2%
Financial independence		5969681.44%	9338.1%	63250.62%	-27.2%	86900.95%	863.39%	691323.5%
More ratios
Solvability		49.54%	-2.6%	50.85%	7.4%	47.34%	42.24%	17.3%
Capacity debt futures		%	-	%	-	%	2417.33%	-
Coverage of current assets by net working capital overall		57.07%	-5.2%	60.21%	7.2%	56.14%	44.55%	28.1%
General Liquidity			-		-		0.89	-
Restricted Liquidity			-		-		1.33	-

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital		82days	-42.3%	142days	-7.8%	154days	41days	100%
Treasury		19days	216.7%	6days	-33.3%	9days	25days	-24.0%
Inventory turnover of goods		103days	-25.9%	139days	32.4%	105days	31days	232.3%
Average length of credit granted to customers		50days	-13.8%	58days	-24.7%	77days	74.50days	-32.9%
Average length of credit obtained suppliers		54days	-15.6%	64days	-35.4%	99days	63days	-14.3%
More ratios
Inventory turnover of raw materials in industrial enterprises		69days	-1.4%	70days	-14.6%	82days	47days	46.8%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	465days	557days	-
Rotation tangible assets		%	-	%	-	465.20%	674.06%	-

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading		9.01%	39.3%	6.47%	34.2%	4.82	0%	0%
Profitability of the business		3.79	1.6%	3.73	809.8%	0.41	4.73%	-19.9%
Net profit		1.19%	-7.0%	1.28%	-85.5%	8.80%	2.81%	-57.7%
More ratios
Growth rate of turnover (excluding VAT)		0.60%	-94.6%	11.02%	141.2%	-26.76%	1.91%	-68.6%
Rates integration		16.82%	-2.2%	17.19%	28.1%	13.42%	36.68%	-54.1%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		70.12%	-1.2%	70.95%	-19.1%	87.73%	80.83%	-13.3%
Weight interests		1.23	3.4%	1.19%	38.4%	0.86%	0.20%	515.0%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability		2.66%	6.4%	2.50%	-74.9%	9.96%	3.93%	-32.3%
Rates of economic profitability		6%	-14.3%	7%	600%	1%	16%	-62.5%
Financial profitability		54698763%	3.7%	52743465%	4.1%	50647582%	269305.50%	20211.0%
Return on investment		4.01%	-16.8%	4.82%	-72.7%	17.64%	10.34%	-61.2%

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	136,137,624	0.6%	135,322,657	11.0%	121,892,474	1,372,082 €	9822.0%

Sales of goods	47,693,620	29.5%	36,817,247	-17.1%	44,429,855
- Purchase of goods	34,751,702	25.8%	27,614,105	-24.3%	36,496,992
+/- Stock of goods variation	671,431	48.0%	453,764	-77.9%	2,054,678
Trading margin	12,270,487 €	40.2%	8,749,378 €	48.8%	5,878,185 €	0 €	0%
	9.01 % CA	39.3%	6.47 % CA	34.2%	4.82 % CA	0 % CA	0%

Sale of goods produced	88,444,004	-10.2%	98,505,410	27.2%	77,462,619
+/- Stocked production	785,065	-17.5%	951,386	588.4%	-194,810
+ Self-constructed assets	0	0%	8,037	-87.2%	62,648
Period production	89,229,069 €	-10.3%	99,464,833 €	28.6%	77,330,457 €	1,082,160.50 €	8145.5%
	65.54 % CA	-10.8%	73.50 % CA	15.9%	63.44 % CA	99.57 % CA	-34.2%

Trading margin	12,270,487	40.2%	8,749,378	48.8%	5,878,185	0	0%
+ Period Production	89,229,069	-10.3%	99,464,833	28.6%	77,330,457	1,082,160.50	8145.5%
- Purchase of raw materials	58,228,715	-12.5%	66,533,093	29.1%	51,550,437
+/- Change in stocks of raw materiels	2,109,797	1009.3%	-232,023	86.7%	-1,749,095
- Other external purchases and charges	18,259,403	-2.1%	18,650,312	9.4%	17,045,411
Added value	22,901,641 €	-1.6%	23,262,829 €	42.2%	16,361,889 €	514,127 €	4354.5%
	16.82 % CA	-2.2%	17.19 % CA	28.1%	13.42 % CA	36.68 % CA	-54.1%

Added value	22,901,641 €	-1.6%	23,262,829 €	42.2%	16,361,889 €	514,127 €	4354.5%
+ Operating grants	800	-97.6%	33,905	-20.9%	42,860
- Tax, duty and similar payments	1,682,871	-3.5%	1,743,159	12.1%	1,555,174
- Personal charges	16,059,400	-2.7%	16,505,488	15.0%	14,353,937
Gross operating surplus	5,160,170 €	2.2%	5,048,087 €	918.5%	495,638 €	55,286 €	9233.6%
	3.79 % CA	1.6%	3.73 % CA	809.8%	0.41 % CA	4.73 % CA	-19.9%

Gross operating surplus	5,160,170 €	2.2%	5,048,087 €	918.5%	495,638 €	55,286 €	9233.6%
+ Release of reserves and provisions	2,651,860	17.8%	2,251,094	-45.9%	4,162,713
+ Other operating income	685,678	62.1%	423,004	26.2%	335,269
- Depreciation/Amortisation	2,622,389	-4.8%	2,755,522	-23.1%	3,585,021
- Other charges	1,088,736	175.9%	394,588	553.2%	60,405
Operating result	4,786,583 €	4.7%	4,572,075 €	239.1%	1,348,194 €	33,197.50 €	14318.5%
	3.52 % CA	4.1%	3.38 % CA	204.5%	1.11 % CA	3.35 % CA	5.1%

Operating result	4,786,583 €	4.7%	4,572,075 €	239.1%	1,348,194 €	33,197.50 €	14318.5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	368,426	-48.8%	720,185	-93.6%	11,266,875
- Financial charges	1,671,313	4.1%	1,605,942	52.9%	1,050,017
Pre-tax result	3,483,696 €	-5.5%	3,686,318 €	-68.1%	11,565,052 €	33,719.50 €	10231.4%
	2.56 % CA	-5.9%	2.72 % CA	-71.3%	9.49 % CA	3.36 % CA	-23.8%

Extraordinary income	619,077	1.8%	608,289	52.5%	399,001	2,500	24663.1%
- Extraordinary charges	1,605,392	5.8%	1,516,770	44.6%	1,049,243
Extraordinary result	-986,315 €	-8.6%	-908,481 €	-39.7%	-650,242 €	0 €	0%
	-0.72 % CA	-7.5%	-0.67 % CA	-26.4%	-1 % CA	0 % CA	0%

Pre-tax result	3,483,696 €	-5.5%	3,686,318 €	-68.1%	11,565,052 €	33,719.50 €	10231.4%
Extraordinary result	-986,315 €	-8.6%	-908,481 €	-39.7%	-650,242 €	0 €	0%
- Employee profit sharing	0	0%	37,994	-23.9%	49,935
- Tax on profits	881,100	-12.6%	1,008,553	661.6%	132,432
Net result	1,616,281 €	-6.6%	1,731,290 €	-83.9%	10,732,443 €	30,675.50 €	5169.0%
	1.19 % CA	-7.0%	1.28 % CA	-85.5%	8.80 % CA	2.80 % CA	-57.5%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	17/09/2007
Status of Monitoring	No social security and tax office preferential right to date

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
14/05/2014	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 1119 - 726 820 236 RCS Chalon-sur-Saône. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : FORD Timothy, Allen Directeur général : FILIPOV Stoyan Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : NICOLAS Yves. Activité : . Commentaires : Modification survenue sur l'administration.
02/05/2014	JAL	Appointment of the social representative
Renaissance (La) Date de décision : 17/04/2014 Société faisant l'objet d'une nomination : 726820236 - TEREX CRANES FRANCE, ZI DE LA SAULE, BP 106, 71300 MONTCEAU LES MINES Nominé : Monsieur Stoyan FILIPOV, 10583 NEW YORK En la fonction de : Directeur général
04/11/2013	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 10497 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
28/05/2013	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 2448 - 726 820 236 RCS Chalon-sur-Saône. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : FORD Timothy, Allen Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : NICOLAS Yves. Activité : . Commentaires : Modification survenue sur l'administration.
17/05/2013	JAL	Resignation / Revocation of the social representative
Renaissance (La) Date de décision : 07/05/2013 La société 726820236 - TEREX CRANES FRANCE, ZI DE LA SAULE, BP 106, 71300 MONTCEAU LES MINES Fait l'objet du départ de Monsieur Kevin BRADLEY
17/05/2013	JAL	Appointment of the social representative
Renaissance (La) Date de décision : 07/05/2013 Société faisant l'objet d'une nomination : 726820236 - TEREX CRANES FRANCE, ZI DE LA SAULE, BP 106, 71300 MONTCEAU LES MINES Nominé : Monsieur Timothy FORD, CT 06840 NEW CANAAN En la fonction de : Président
15/08/2012	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 8686 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
30/01/2012	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 8160 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
29/03/2011	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 1419 - 726 820 236 RCS Chalon-sur-Saône. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : BRADLEY Kévin, Patrick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : NICOLAS Yves. Activité : . Commentaires : Modification survenue sur l'administration.
18/03/2011	JAL	Appointment of the social representative
Renaissance (La) Société faisant l'objet d'une nomination : 726820236 - TEREX CRANES FRANCE, ZI DE LA SAULE, BP 106, 71300 MONTCEAU LES MINES Nominé : Monsieur Kevin BRADLEY, 32 Hickory Lane, Fairfield, CT 06824 ETATS-UNIS En la fonction de : Président Date d'effet : 28/01/2011
18/03/2011	JAL	Resignation / Revocation of the social representative
Renaissance (La) Date de décision : 28/01/2011 La société 726820236 - TEREX CRANES FRANCE, ZI DE LA SAULE, BP 106, 71300 MONTCEAU LES MINES Fait l'objet du départ de Date d'effet : 28/01/2011
15/09/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAÔNE 9198 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
19/02/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 5512 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2004.
19/02/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 5516 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
19/02/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 5515 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
19/02/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 5514 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
19/02/2010	Bodacc C	Comptes annuels et rapports
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 5513 - 726820236 RCS. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Adresse : Zone Industrielle de la Saule 71300 Montceau-les-Mines. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2005.
05/02/2010	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DE CHALON-SUR-SAONE 863 - 726 820 236 RCS Chalon-sur-Saône. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : NICHOLS Rick Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : NICOLAS Yves. Activité : . Commentaires : Modification survenue sur l'administration.
30/11/2008	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DU CREUSOT 3694 - 726 820 236 RCS Le Creusot. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : NICHOLS Rick. Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : LECERF Claudie. Commentaires : Modification survenue sur l'administration.
18/09/2008	Bodacc B	Modification et mutation diverse
71 - SAONE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE DU CREUSOT 1616 - 726 820 236 RCS Le Creusot. TEREX CRANES FRANCE. Forme : Société par actions simplifiée. Administration : Président : FILIPOV Stoyan. Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : LECERF Claudie. Commentaires : Modification survenue sur l'administration.
19/08/2006	Bodacc C	Avis de dépôt des comptes
4820 - RCS Le Creusot B 726 820 236. RC 00-B 632. TEREX CRANES FRANCE. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: Zone Industrielle de la Saule,71300 Montceau-les-Mines. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
27/05/2004	Bodacc B	Modifications et mutations diverses
RCS Le Creusot B 726820236 RC 00-B 632 TEREX CRANES FRANCE. Forme : S.A.S. Capital : 7 530 508 euros. Adresse du siège social : Z.I. de la Saule, 71300 Montceau-les-Mines. Commentaires : modification survenue sur la dénomination. Date d'effet : 27 février 2004.
09/03/2004	Bodacc B	Modifications et mutations diverses
RCS Le Creusot B 726820236 RC 00-B 632 P.P.M. Forme : S.A.S. Capital : 7 530 508 euros. Adresse du siège social : Z.I. de la Saule, 71300 Montceau-les-Mines. Commentaires : modification survenue sur l'administration. Administration : président : FILIPOV (Stoyan) ( Nom d' usage : FILIPOV). Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : LECERF (Claudie) ( Nom d'usage : LECERF). Mandataire : MOLENDA (Jean, Pierre) ( Nom d'usage : MOLENDA). Date d'effet : 19 janvier 2004.
22/11/2002	Bodacc B	Modifications et mutations diverses
RCS Le Creusot B 726820236 RC 00-B 632 P.P.M. Forme : S.A.S. Capital : 7 530 508 euros. Adresse du siège social : Z.I. de la Saule, 71300 Montceau-les-Mines. Commentaires : modification survenue sur l'administration. Administration : président : FILIPOV (Stoyan) ( Nom d' usage : FILIPOV). Commissaire aux comptes titulaire : BEFEC-PRICE WATERHOUSE. Commissaire aux comptes suppléant : LECERF (Claudie) ( Nom d' usage : LECERF). Date d'effet : 16 aout 2002.
03/01/2002	Bodacc B	Modifications et mutations diverses
RCS Le Creusot B 726820236 RC 00-B 632 P.P.M. Forme : S.A.S. Capital : 7 530 508 euros. Adresse du siège social : Z.I. de la Saule, 71300 Montceau-les-Mines. Commentaires : modification survenue sur l'administration. Administration : président : ROBERTSON (Colin) ( Nom d' usage : ROBERTSON). Commissaire aux comptes titulaire : BEFEC-PRICE WATERHOUSE. Commissaire aux comptes suppléant : LECERF (Claudie) ( Nom d' usage : LECERF). Date d'effet : 28 septembre 2001.
05/07/2000	Bodacc B	Modifications et mutations diverses
RCS Le Creusot B 726820236 RC 00-B 632 P.P.M. Forme : S.A.S. Capital : 49 396 896 F. Adresse du siège social : Z.I. de la Saule, 71300 Montceau-les-Mines. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : président : FILIPOV ( Filip) ( Nom d'usage : FILIPOV). Commissaire aux comptes titulaire : CABINET PRICE WATERHOUSE. Commissaire aux comptes suppléant : LECERF (Claudie) ( Nom d'usage : LECERF).
29/08/1998	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 49 396 896 F. Adresse du siège social : Z.I. de la Saule 71300 Montceau-les-Mines. Administration : nomination en qualité d' administrateur : COHEN (Eric), en remplacement de LANGEVIN (David). Date d'effet : 25 mai 1998.
11/07/1998	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 49 396 896 F. Adresse du siège social : Z.I. de la Saule 71300 Montceau-les-Mines. Administration : nomination en qualité d' administrateur : DEFEO (Ronald), en remplacement de ROSENBERG (Marvin). Date d'effet : 27 mars 1998.
14/02/1996	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 126 554 400 F (fixe). Adresse du siège social : zone industrielle de la Saule, 71300 Montceau-les-Mines. Administration : nomination en qualité de commissaire aux comptes titulaire du CABINET PRICE WATERHOUSE en remplacement du CABINET H. S.D. ET G.S.A. GROUPE SYNTHESE S.A. nomination en qualité de commissaire aux comptes suppléant de Mme LECERF ( Claudie) en remplacement de M. DAUPHIN. Date d'effet : 15 novembre 1995.
14/02/1996	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 126 554 400 F (fixe). Adresse du siège social : zone industrielle de la Saule, 71300 Montceau-les-Mines. Administration : nomination en qualité d'administrateur de FLEURY (Jean-Marc) en remplacement de FILIPOV (Stoyan). Date d'effet : 15 décembre 1995.
08/07/1995	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 126 554 400 F (fixe). Adresse du siège social : zone industrielle de la Saule, 71300 Montceau-les-Mines. Administration : nomination en qualité de président du conseil d'administration et administrateur de FILIPOV (Filip), en remplacement de GENEVOIS (Michel) nomination en qualité de d' administrateurs de FILIPOV (Stoyan), LANGEVIN (David) et ROSENBERG (Marvin), en remplacement de COURAU (Alain), LEGRIS INDUSTRIES et COURAU (Jean-Marc). Date d'effet : 9 mai 1995.
24/03/1995	Bodacc B	Modifications et mutations diverses
RCS Chalon-sur-Saone B 726 820 236 RC 68-B 23 P.P.M. Forme : S.A. Capital : 126 554 400 F (fixe). Adresse du siège social : zone industrielle de la Saule, 71300 Montceau-les-Mines. Administration : nomination en qualité d'administrateur de COUREAU (Jean-Marc). Date d'effet : 6 janvier 1995.

Company events history

Date	Description
24/06/2014	Extension of term
24/06/2014	Application and court order
14/05/2014	Bodacc B: Various editing or changing
29/04/2014	Update Limit
29/04/2014	Update Rating
25/04/2014	Changes to the Board of Directors
25/04/2014	Amendment
17/04/2014	Legal Gazette: Appointment of the social representative
04/11/2013	Bodacc C : Deposit accounts notice
19/10/2013	Update Rating
19/10/2013	Update Limit
19/10/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
20/07/2013	Update Rating
20/07/2013	Update Limit
28/06/2013	Extension of term
28/06/2013	Application and court order
06/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/05/2013	Bodacc B: Various editing or changing
17/05/2013	Legal Gazette: Resignation / Revocation of the social representative
13/05/2013	Minutes of general meeting of shareholders
13/05/2013	New chairman (CEO, CoB)
07/05/2013	Legal Gazette: Appointment of the social representative
31/12/2012	New accounts available
15/08/2012	Bodacc C : Deposit accounts notice
22/06/2012	Application and court order
22/06/2012	Amendment
30/01/2012	Bodacc C : Deposit accounts notice
20/01/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2011	New accounts available
23/06/2011	Prorogation de durée
23/06/2011	Extension of term
23/06/2011	Application and court order
23/06/2011	Requête et Ordonnance
29/03/2011	Bodacc B: Various editing or changing
18/03/2011	Legal Gazette: Resignation / Revocation of the social representative
17/03/2011	Changement de Président (PDG, PCA)
17/03/2011	New chairman (CEO, CoB)
17/03/2011	Minutes of general meeting of shareholders
17/03/2011	PV d'Assemblée
28/01/2011	Legal Gazette: Appointment of the social representative
31/12/2010	New accounts available
15/09/2010	Bodacc C : Deposit accounts notice
19/02/2010	Bodacc C : Deposit accounts notice
05/02/2010	Bodacc B: Various editing or changing
20/01/2010	Changement de Commissaire aux Comptes
20/01/2010	PV d'Assemblée
20/01/2010	Minutes of general meeting of shareholders
20/01/2010	New auditor
31/12/2009	New accounts available
27/07/2009	Private document
27/07/2009	Foreign document
27/07/2009	Acte sous seing privé
27/07/2009	Appointment/resignation of company officers
31/12/2008	New accounts available
30/11/2008	Bodacc B: Various editing or changing
30/11/2008	New Bodacc B ads detected
17/11/2008	Appointment/resignation of company officers
17/11/2008	PV d'Assemblée
17/11/2008	Private document
17/11/2008	Changes to the Board of Directors
17/11/2008	New chairman (CEO, CoB)
17/11/2008	Minutes of general meeting of shareholders
18/09/2008	New Bodacc B ads detected
18/09/2008	Bodacc B: Various editing or changing
01/09/2008	Private document
01/09/2008	Appointment/resignation of company officers
01/09/2008	Acte modificatif
01/09/2008	Amendment
17/09/2007	Collection of preferential rights activated for this company
03/07/2007	Requête et Ordonnance
03/07/2007	Prorogation de durée
03/07/2007	Application and court order
31/12/2006	New accounts available
03/07/2006	Requête et Ordonnance
03/07/2006	Prorogation de durée
30/06/2005	Prorogation de durée
30/06/2005	Requête et Ordonnance
31/12/2004	New accounts available
03/11/2004	Prorogation de durée
03/11/2004	Acte modificatif
03/11/2004	Requête et Ordonnance
01/07/2004	Prorogation de durée
01/07/2004	Acte modificatif
01/07/2004	Requête et Ordonnance
09/04/2004	Acte sous seing privé
09/04/2004	Statuts mis à jour
09/04/2004	Changement de dénomination sociale
09/04/2004	Acte modificatif
09/04/2004	PV d'Assemblée
17/02/2004	Reconstitution de l'Actif Net
17/02/2004	Acte modificatif
17/02/2004	PV d'Assemblée
17/02/2004	Acte sous seing privé
02/02/2004	Acte modificatif
02/02/2004	Acte sous seing privé
02/02/2004	Nomination/démission des organes de gestion
31/12/2003	New accounts available
08/10/2003	Prorogation de durée
08/10/2003	Requête et Ordonnance
08/10/2003	Acte modificatif
04/10/2002	Nomination/démission des organes de gestion
04/10/2002	Acte sous seing privé
04/10/2002	PV d'Assemblée
04/10/2002	Acte modificatif
20/02/2002	PV d'Assemblée
20/02/2002	Acte sous seing privé
20/02/2002	Acte modificatif
20/02/2002	Continuation malgré perte supérieure à la moitié du capital
16/11/2001	PV d'Assemblée
16/11/2001	Nomination/démission des organes de gestion
16/11/2001	Acte modificatif
16/11/2001	Acte sous seing privé
16/11/2001	Changement de Président (PDG, PCA)
16/11/2001	Modification du Conseil d'Administration
18/10/2001	Acte sous seing privé
18/10/2001	Statuts mis à jour
18/10/2001	PV d'Assemblée
18/10/2001	Acte modificatif
18/10/2001	Conversion du Capital Social en Euros
06/06/2000	Statuts mis à jour
06/06/2000	Changement de Président (PDG, PCA)
06/06/2000	Acte sous seing privé
06/06/2000	PV d'Assemblée
06/06/2000	Changement de Forme Juridique sans changement de catégorie
06/06/2000	Acte modificatif
06/06/2000	Nomination/démission des organes de gestion
21/07/1998	PV du Conseil d'Administration
21/07/1998	Nomination/démission des organes de gestion
21/07/1998	Acte modificatif
21/07/1998	Acte sous seing privé
21/07/1998	Modification du Conseil d'Administration
18/05/1998	Modification du Conseil d'Administration
18/05/1998	Acte modificatif
18/05/1998	PV du Conseil d'Administration
18/05/1998	Nomination/démission des organes de gestion
18/05/1998	Acte sous seing privé
09/01/1997	Acte modificatif
09/01/1997	Statuts mis à jour
09/01/1997	PV d'Assemblée
09/01/1997	Augmentation de Capital
09/01/1997	PV du Conseil d'Administration
09/01/1997	Acte sous seing privé
09/01/1997	Réduction de Capital
04/11/1996	Réduction de Capital
04/11/1996	Acte sous seing privé
04/11/1996	PV d'Assemblée
04/11/1996	Statuts mis à jour
04/11/1996	Acte modificatif
11/01/1996	Acte modificatif
11/01/1996	PV du Conseil d'Administration
11/01/1996	Nomination/démission des organes de gestion
11/01/1996	Modification du Conseil d'Administration
08/01/1996	Acte modificatif
08/01/1996	Changement de Commissaire aux Comptes
08/01/1996	PV d'Assemblée
16/06/1995	Prorogation de durée
16/06/1995	Acte modificatif
16/06/1995	Requête et Ordonnance
09/06/1995	PV d'Assemblée
09/06/1995	Acte modificatif
09/06/1995	Changement de Président (PDG, PCA)
09/06/1995	PV du Conseil d'Administration
09/06/1995	Modification du Conseil d'Administration
09/06/1995	Nomination/démission des organes de gestion
21/02/1995	Nomination/démission des organes de gestion
21/02/1995	PV du Conseil d'Administration
21/02/1995	Acte modificatif
21/02/1995	Modification du Conseil d'Administration
03/01/1995	PV d'Assemblée
03/01/1995	Acte modificatif
03/01/1995	Continuation malgré perte supérieure à la moitié du capital
21/11/1994	Modification du Conseil d'Administration
21/11/1994	Acte modificatif
21/11/1994	PV d'Assemblée
21/11/1994	PV du Conseil d'Administration
08/09/1993	Modification du Conseil d'Administration
08/09/1993	Acte modificatif
08/09/1993	PV d'Assemblée
27/07/1992	Nomination/démission des organes de gestion
27/07/1992	Modification du Conseil d'Administration
27/07/1992	PV d'Assemblée
27/07/1992	Acte modificatif
27/03/1992	Modification du Conseil d'Administration
27/03/1992	PV du Conseil d'Administration
27/03/1992	Nomination/démission des organes de gestion
27/03/1992	Acte modificatif
19/03/1992	Statuts mis à jour
19/03/1992	Fusion
19/03/1992	PV du Conseil d'Administration
19/03/1992	PV d'Assemblée
19/03/1992	Déclaration de conformité
19/03/1992	Acte modificatif
24/12/1991	Acte modificatif

Establishment events history

Date	Description
19/10/2013	Update Rating
18/09/2013	Update Rating
06/06/2013	Update Rating
06/06/2013	Update Limit
07/05/2013	Update Limit
07/05/2013	Update Rating
10/09/2012	Update Rating
20/01/2012	Update Rating
06/09/2011	Update Rating
28/06/2011	Update of phone numbers
21/07/2010	Update of phone numbers
12/02/2010	Update Rating
12/02/2010	Update Limit
02/01/2010	Update Rating
03/07/2008	Update Rating
29/04/2008	Update Rating
11/12/2007	Update Limit
09/12/2007	Update Limit

directors

Name	M. FORD TIMOTHY, ALLEN
Manager position	President	Date of birth	23/12/1961
Place of birth	HARTFORD CONNECTICUT(ETATS-UNIS D'AMERIQUE)
Type	Individual	Name at birth

Name	M. FILIPOV STOYAN
Manager position	Managing director	Date of birth	26/06/1968
Place of birth	ILLINOIS(ETATS-UNIS D'AMERIQUE)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M KÉVIN PATRICK BRADLEY	6/22/1962 - NEW JERSEY(ETATS-UNIS D'AMERIQUE)
President	M STOYAN FILIPOV	6/26/1968 - ILLINOIS ETATS UNIS
President	M RICK NICHOLS	- - -
President	M TIMOTHY, ALLEN FORD	12/23/1961 - HARTFORD CONNECTICUT(ETATS-UNIS D'AMERIQUE)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.18
UK Pound	1	Rs.102.68
Euro	1	Rs.81.03

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	MNL

RATING EXPLANATIONS

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

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

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

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

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

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