MIRA INFORM REPORT

Report Date :

12.06.2014

IDENTIFICATION DETAILS

Name :	JAMES BURN INTERNATIONAL
Registered Office :	67 Rue Du Docteur Blaizot, Bp 134, 61304 L'aigle Cedex
Country :	France
Financials (as on) :	30.06.2012
Date of Incorporation :	April 2007
Com. Reg. No.:	RCS Alencon 0 497 767 962
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacturer of machinery for paper and paperboard
No of Employees :	31 (30.06.2012)

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 :	Slow But Correct
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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	JAMES BURN INTERNATIONAL	SIRET	497 767 962 00010
		EUR VAT Number	FR53497767962
Activity (APE)	Manufacturer of machinery for paper and paperboard	Legal form	Simplified joint stock company
Phone	02 33 84 21 50	RCS Registration	RCS Alencon 0 497 767 962
Fax		Share capital	500,000 Euros
Address	JAMES BURN INTERNATIONAL 67 RUE DU DOCTEUR BLAIZOT BP 134 61304 L'AIGLE CEDEX	Incorporated Date	05/2007
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	5
Total number of Invoices paid within or up to 30 days after the due date	3
Total number of Invoices paid more than 30 days after the due date	0
Total number of Invoices currently outstanding where the due date has not yet been reached	2
Total number of Invoices currently outstanding beyond the due date	0

This company is not under monitoring

Current Directors

1

Trading to Date	06/30/2012	06/30/2011	06/30/2010
Turnover	5,560,825 €	6,333,198 €	447,827 €
Gross Operating Surplus	8,02 % Turnover	10,67 % Turnover	6,56 % Turnover
Shareholders’ equity	2,886,236 €	2,593,134 €	2,204,444 €
Net result	274,965 €	302,302 €	756,902 €

Employees

31 (30.06.2012)

Trends
Profitability
Liquidity
Net worth

Company details

Activity (APE)	Manufacturer of machinery for paper and paperboard
RCS Registration	RCS Alencon 0 497 767 962	Share capital	500,000 Euros
Registration Court	Alencon (61)	Legal form	Simplified joint stock company
Court Registry Number	20 0 7B00098	EUR VAT Number	FR53497767962
Incorporation Date	05/2007	Formation Date	04/2007
Deregistration Date		Last account Date	30/06/2012
Nationality	France

Establishment details

Activity (APE)	Manufacturer of machinery for paper and paperboard	Business Pages FT®	MATERIEL ET FOURNITURES POUR IMPRIMERIE, INDUSTRIES GRAPHIQUES
Postal Address	JAMES BURN INTERNATIONAL 67 RUE DU DOCTEUR BLAIZOT BP 134 61304 L'AIGLE CEDEX	Trading Address	67 RUE DU DOCTEUR BLAIZOT 61300 L'AIGLE
Telephone	02 33 84 21 50
Fax

Type	Head office	Status	Economically active
Formation Date	04/2007	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Other	Activity Location	Other
Location surface		Seasonality

Department	Orne (61)	Region	Basse-Normandie
District	3	Area	98
City	L'AIGLE	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> JAMES BURN INTERNATIONAL <<< - Fabrication de machines pour les industries du papier et du carton (2895Z) in L'AIGLE (61300)
Secondary establishments	> JAMES BURN INTERNATIONAL - Fabrication de machines pour les industries du papier et du carton (2895Z) in L'AIGLE (61300)

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

Workforces

Company workforce

31 (30.06.2012)

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	30/06/2012	30/06/2011	30/06/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	06/12/2013	26/01/2012	03/02/2011
Activity Code	2895Z	2895Z	2895Z
Employees	31	31	0

Active account

Annual Accounts	30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 314 649	-2,0%	1 341 555	-69,1%	4 344 430	440 346	198,5%
- Intangible assets	236 293	-0,9%	238 396	8261,8%	2 851	14 025	1584,8%
- Tangible assets	296 231	-8,1%	322 467	1434,5%	21 014	105 648	180,4%
- Financial assets	782 125	0,2%	780 692	-81,9%	4 320 565	5 300	14657,1%
Net current assets	3 660 088	-14,4%	4 275 467	1499,3%	267 338	1 583 458	131,1%
- Stocks	1 900 870	58,8%	1 197 382	0%	0	462 725	310,8%
- Advanced payments	0	-14,4%	280 387	0%	0	0	0%
- Receivables	1 268 053	-29,0%	1 785 674	611,0%	251 151	623 149	103,5%
- Securities and cash	491 165	-51,5%	1 012 020	6152,1%	16 187	288 538	70,2%
- Prepaid expenses	-	-	-	-	-	312	-
Accounts of regularization	2 251	-80,5%	11 550	0%	0	0	0%
Total Assets	4 976 990	-11,6%	5 628 573	22,0%	4 611 770	2 547 631	95,4%

Passive Account

Annual Accounts	30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Shareholders' equity	2 886 236	11,3%	2 593 134	17,6%	2 204 444	1 020 048	183,0%
Share capital	500 000	0%	500 000	0%	500 000	262 600	90,4%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	85 605	-9,9%	94 981	470,8%	16 640	27 302	213,5%
Liabilities	2 000 291	-32,0%	2 940 453	23,0%	2 390 685	636 642	214,2%
- Financial liabilities	1 206 600	-31,6%	1 765 102	-22,5%	2 278 336	75 000	1508,8%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	409 729	-35,1%	631 392	2727,7%	22 329	213 050	92,3%
- Tax and social liabilities	288 706	-42,7%	503 605	670,2%	65 384	157 167	83,7%
- Other debts and fixed assets liabilities	88 825	120,1%	40 354	63,8%	24 637	12 477	611,9%
Account regularization	11 288	0%	0	0%	0	0	0%
Total liabilities	4 976 989	-11,6%	5 628 572	22,0%	4 611 770	2 547 632	95,4%

Results

Annual Accounts	30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Sales of Goods	6 252 439	-6,4%	6 682 587	1329,3%	467 543	2 312 479	170,4%
Net turnover	5 560 825	-12,2%	6 333 198	1314,2%	447 827	2 236 072	148,7%
- of which net export turnover	4 111 478	6154,4%	65 737	-25,7%	88 444	17 974	22774,6%
Operating charges	5 877 186	-2,2%	6 009 111	1238,9%	448 793	2 228 291	163,8%
Operating profit/loss	375 253	-44,3%	673 476	3491,9%	18 750	65 436	473,5%
Financial income	155 587	318,4%	37 188	-95,6%	839 197	6 640	2243,2%
Financial charges	98 255	-55,1%	218 813	55,3%	140 917	5 011	1860,8%
Financial profit/loss	57 332	131,6%	-181 625	-126,0%	698 280	583	9734,0%
Pretax net operating income	432 585	-12,0%	491 851	-31,4%	717 030	78 200	453,2%
Extraordinary income	32 554	-57,0%	75 752	2425,1%	3 000	16 825	93,5%
Extraordinary charges	47 078	-60,8%	120 240	274,6%	32 097	8 195	474,5%
Extraordinary profit/loss	-14 524	67,4%	-44 488	-52,9%	-29 097	0	0%
Net result	274 965	-9,0%	302 302	-60,1%	756 902	101 058	172,1%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	30/06/2012	30/06/2011	30/06/2010
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			30/06/2012		30/06/2011		30/06/2010
	Grand Total (I to VI)	Net	4 976 990	-11,6%	5 628 573	22,0%	4 611 770
	Gross	CO	6 876 600	-7,6%	7 443 261	60,5%	4 638 513
	Amortisation	1A	1 899 610	4,7%	1 814 688	6685,7%	26 743

Non declared distributed capital (I)

		30/06/2012		30/06/2011		30/06/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			30/06/2012		30/06/2011		30/06/2010
	Total Active fixed asset (II)	Net	1 314 649	-2,0%	1 341 555	-69,1%	4 344 430
	Gross	BJ	2 939 341	2,3%	2 874 113	-34,2%	4 371 174
	Amortisation	BK	1 624 692	6,0%	1 532 558	5630,5%	26 744

Intangible fixed assets

			30/06/2012		30/06/2011		30/06/2010
	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%	1 364	0%	0
	Gross	CX	110 096	0%	110 096	0%	0
	Amortisation	AE	110 096	1,3%	108 732	0%	0
	Distributorships, patents	Net	0	0%	739	-74,1%	2 851
	Gross	AF	138 745	37,7%	100 748	1254,3%	7 439
	Amortisation	AG	138 745	38,7%	100 009	2079,8%	4 588
	Goodwill	Net	236 293	0%	236 293	0%	0
	Gross	AH	236 293	0%	236 293	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	236 293	-0,9%	238 396	8261,8%	2 851

Tangible fixed assets

			30/06/2012		30/06/2011		30/06/2010
	Lands	Net	30 490	0,0%	30 489	0%	0
	Gross	AN	30 490	0,0%	30 489	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	91 834	-8,7%	100 583	0%	0
	Gross	AP	587 060	0%	587 060	0%	0
	Amortisation	AQ	495 226	1,8%	486 477	0%	0
	Plant	Net	135 783	-16,4%	162 328	0%	0
	Gross	AR	871 765	0%	871 765	0%	0
	Amortisation	AS	735 982	3,7%	709 437	0%	0
	Other tangible fixed assets	Net	38 124	31,2%	29 067	38,3%	21 014
	Gross	AT	182 767	16,4%	156 970	263,6%	43 170
	Amortisation	AU	144 643	13,1%	127 903	477,3%	22 156
	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	296 231		322 467		21 014

Financial assets

			30/06/2012		30/06/2011		30/06/2010
	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	780 602	0%	780 602	-81,9%	4 320 565
	Gross	CU	780 602	0%	780 602	-81,9%	4 320 565
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	1 433	0%	0	0%	0
	Gross	BF	1 433	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	90	0%	90	0%	0
	Gross	BH	90	0%	90	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		782 125		780 692		4 320 565

Current Assets (III)

			30/06/2012		30/06/2011		30/06/2010
	Total Assets	Net	3 660 088	-14,4%	4 275 467	1499,3%	267 338
	Gross	CJ	3 935 007	-13,7%	4 557 594	1604,8%	267 338
	Amortisation	CK	274 919	-2,6%	282 127	0%	0

Stocks

			30/06/2012		30/06/2011		30/06/2010
	Raw materials	Net	462 908	5,7%	437 808	0%	0
	Gross	BL	621 544	-1,5%	630 922	0%	0
	Amortisation	BM	158 636	-17,9%	193 114	0%	0
	Work in progress (goods)	Net	424 722	23,4%	344 247	0%	0
	Gross	BN	424 722	23,4%	344 247	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	709 936	0%	0	0%	0
	Gross	BR	709 936	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	303 304	-27,0%	415 327	0%	0
	Gross	BT	372 582	-10,3%	415 327	0%	0
	Amortisation	BU	69 278	0%	0	0%	0
	Sub Total Stocks	Net	1 900 870	58,8%	1 197 382	0%	0

Advance payments to suppliers

			30/06/2012		30/06/2011		30/06/2010
	Advance payments to suppliers	Net	0	0%	280 387	0%	0
	Gross	BV	0	0%	356 468	0%	0
	Amortisation	BW	0	0%	76 081	0%	0

Debtors

			30/06/2012		30/06/2011		30/06/2010
	Trade accounts receivable	Net	1 202 138	-24,5%	1 592 116	3227,7%	47 844
	Gross	BX	1 249 143	-22,2%	1 605 048	3254,8%	47 844
	Amortisation	BY	47 005	263,5%	12 932	0%	0
	Other debtors	Net	28 901	-80,3%	146 850	-22,4%	189 347
	Gross	BZ	28 901	-80,3%	146 850	-22,4%	189 347
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	1 231 039	-29,2%	1 738 966	633,2%	237 191

Divers

			30/06/2012		30/06/2011		30/06/2010
	Investment securities	Net	49 368	-81,0%	260 000	0%	0
	Gross	CD	49 368	-81,0%	260 000	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	441 797	-41,3%	752 020	4545,8%	16 187
	Gross	CF	441 797	-41,3%	752 020	4545,8%	16 187
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	491 165	-51,5%	1 012 020	6152,1%	16 187

Prepaid expenses

			30/06/2012		30/06/2011		30/06/2010
	Prepaid expenses	Net	37 014	-20,8%	46 708	234,6%	13 960
	Gross	CH	37 014	-20,8%	46 708	234,6%	13 960
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		30/06/2012		30/06/2011		30/06/2010
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	2 251	-80,5%	11 550	0%	0
Gross		2 251	-80,5%	11 550	0%	0

References

		30/06/2012		30/06/2011		30/06/2010
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)

		30/06/2012		30/06/2011		30/06/2010
Grand Total (I to V)	EE	4 976 989	-11,6%	5 628 572	22,0%	4 611 770

Shareholder Equity (I)

			30/06/2012		30/06/2011		30/06/2010
	Total shareholders' equity (Total I)	DL	2 886 236	11,3%	2 593 134	17,6%	2 204 444
	Equity and shareholders' equity	DA	500 000	0%	500 000	0%	500 000
	Issue and merger premiums	DB	479 000	0%	479 000	0%	479 000
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	50 000	0%	50 000	145,8%	20 344
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	1 113 777	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	302 302	-72,9%	1 113 777	188,1%	386 531
	Profit or loss for the period	DI	274 965	-9,0%	302 302	-60,1%	756 902
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	166 192	12,3%	148 055	140,1%	61 667

Other capital resources (II)

			30/06/2012		30/06/2011		30/06/2010
	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)

			30/06/2012		30/06/2011		30/06/2010
	Total provisions for risks and charges (Total III)	DR	85 605	-9,9%	94 981	470,8%	16 640
	Risk provisions	DP	34 243	-24,3%	45 255	0%	0
	Reserves for charges	DQ	51 362	3,3%	49 726	198,8%	16 640

Liabilities (IV)

			30/06/2012		30/06/2011		30/06/2010
	Total Liabilities (Total IV)	EC	2 000 291	-32,0%	2 940 453	23,0%	2 390 685
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	1 206 600	-31,1%	1 751 315	-23,1%	2 277 996
	Sundry loans and financial liabilities	DV	0	0%	13 787	3955,0%	340
	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	409 729	-35,1%	631 392	2727,7%	22 329
	Tax and social security liabilities	DY	288 706	-42,7%	503 605	670,2%	65 384
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	83 968	108,1%	40 354	63,8%	24 637

Translation loss (V)

		30/06/2012		30/06/2011		30/06/2010
Translation loss (Total V)	ED	4 857	0%	0	0%	0

Equalization accounts

		30/06/2012		30/06/2011		30/06/2010
Deferred income	EB	11 288	0%	0	0%	0

References

		30/06/2012		30/06/2011		30/06/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	647 983
Of which current bank facilities	EH	0	0%	0	0%	138

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)

		30/06/2012		30/06/2011		30/06/2010
Operating result (Total I-II)	GG	375 253	-44,3%	673 476	3491,9%	18 750

2 - Financial result (V - VI)

		30/06/2012		30/06/2011		30/06/2010
Financial result (Total V-VI)	GV	57 332	131,6%	-181 625	-126,0%	698 280

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

		30/06/2012		30/06/2011		30/06/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	432 585	-12,0%	491 851	-31,4%	717 030

4 - Extraordinary result (VII-VIII)

		30/06/2012		30/06/2011		30/06/2010
Extraordinary result (Total VII-VIII)	HI	-14 524	67,4%	-44 488	-52,9%	-29 097

Profit or loss

		30/06/2012		30/06/2011		30/06/2010
Profit or loss	HN	274 965	-9,0%	302 302	-60,1%	756 902

Total Income (I+III+V+VII)

		30/06/2012		30/06/2011		30/06/2010
Total Income (I+III+V+VII)	HL	6 440 580	-5,2%	6 795 527	418,8%	1 309 740

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

		30/06/2012		30/06/2011		30/06/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	6 165 616	-5,0%	6 493 225	1074,5%	552 836

Operating income (I)

		30/06/2012		30/06/2011		30/06/2010
Total operating income (Total I)	FR	6 252 439	-6,4%	6 682 587	1329,3%	467 543

Operating income (details)

			30/06/2012		30/06/2011		30/06/2010
	Sale of goods for resale	FC	1 764 631	-18,0%	2 152 363	0%	0
	France	FA	470 764	-78,1%	2 152 363	0%	0
	Export	FB	1 293 867	0%	0	0%	0
	Sale of goods produced	FF	3 502 358	-9,7%	3 879 363	0%	0
	France	FD	873 694	-77,5%	3 879 363	0%	0
	Export	FE	2 628 664	0%	0	0%	0
	Sale of services	FI	293 836	-2,5%	301 472	-32,7%	447 827
	France	FG	104 889	-55,5%	235 735	-34,4%	359 383
	Export	FH	188 947	187,4%	65 737	-25,7%	88 444
	Net turnover	FL	5 560 825	-12,2%	6 333 198	1314,2%	447 827
	France	FJ	1 449 347	-76,9%	6 267 461	1644,0%	359 383
	Export	FK	4 111 478	6154,4%	65 737	-25,7%	88 444
	Stocked production	FM	375 082	1295,4%	-31 377	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	8 894	-46,1%	16 497	0%	0
	Release of reserves and provisions	FP	293 347	-13,0%	337 284	1162948,3%	29
	Other income	FQ	14 291	-47,0%	26 985	37,1%	19 687

Operating charges (II)

		30/06/2012		30/06/2011		30/06/2010
Total operating charges (Total II)	GF	5 877 186	-2,2%	6 009 111	1238,9%	448 793

Exploitation charges

		30/06/2012		30/06/2011		30/06/2010
Purchase of goods for resale	FS	1 344 529	-18,3%	1 644 885	0%	0
Change in stocks of goods for resale	FT	-16 114	-11,2%	-14 496	0%	0
Purchase of raw materials	FU	1 903 932	15,0%	1 655 620	0%	0
Change in stocks of raw materials	FV	9 379	-93,3%	139 798	0%	0
Other external purchases and charges	FW	729 607	6,9%	682 382	566,7%	102 356
Tax, duty and similar payments	FX	77 917	-7,7%	84 378	921,3%	8 262
Payroll	FY	989 580	-4,1%	1 032 338	418,4%	199 139
Social security costs	FZ	459 915	10,1%	417 890	284,4%	108 714

Depreciation

		30/06/2012		30/06/2011		30/06/2010
Depreciation of fixed assets	GA	56 900	10,2%	51 613	302,6%	12 819
Amortisation of fixed assets	GB	35 232	0%	0	0%	0
Depreciation/amortisation of current assets	GC	265 944	-1,2%	269 195	0%	0
Provisions for risks and charges	GD	6 095	-70,5%	20 658	0%	0

Other charges

		30/06/2012		30/06/2011		30/06/2010
Other charges	GE	14 270	-42,6%	24 850	42,0%	17 503

Operating charges (III-IV)

		30/06/2012		30/06/2011		30/06/2010
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)

			30/06/2012		30/06/2011		30/06/2010
	Total financial income (Total V)	GP	155 587	318,4%	37 188	-95,6%	839 197
	Share financial income	GJ	0	0%	0	0%	630 682
	Other investment income & capitalised receivables	GK	39	95,0%	20	0%	0
	Other interest and similar income	GL	12 644	8,5%	11 649	83107,1%	14
	Released provisions and transferred charges	GM	11 551	37161,3%	31	-100,0%	208 483
	Exchange gains	GN	129 236	461,9%	23 001	0%	0
	Net income from disposal of investment securities	GO	2 117	-14,9%	2 487	13716,7%	18

Financial Charge (VI)

			30/06/2012		30/06/2011		30/06/2010
	Total financial charge (Total VI)	GU	98 255	-55,1%	218 813	55,3%	140 917
	Financial reserves and provisions	GQ	2 251	-80,5%	11 550	0%	0
	Interest and similar charges	GR	89 069	-23,8%	116 879	-17,1%	140 910
	Exchange losses	GS	6 935	-92,3%	90 384	1291100%	07
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			30/06/2012		30/06/2011		30/06/2010
	Total extraordinary income (Total VII)	HD	32 554	-57,0%	75 752	2425,1%	3 000
	Extraordinary operating income	HA	1 537	-88,0%	12 819	0%	0
	Extraordinary income from capital transactions	HB	25 396	693,6%	3 200	6,7%	3 000
	Released provisions and transferred charges	HC	5 621	-90,6%	59 733	0%	0

Extraordinary charges (VIII)

			30/06/2012		30/06/2011		30/06/2010
	Total extraordinary charges (Total VIII)	HH	47 078	-60,8%	120 240	274,6%	32 097
	Extraordinary operating charges	HE	23 320	-71,5%	81 933	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	444
	Extraordinary reserves and provisions	HG	23 758	-38,0%	38 307	21,0%	31 653

Employee profit sharing (IX)

		30/06/2012		30/06/2011		30/06/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		30/06/2012		30/06/2011		30/06/2010
Tax on profits (Total X)	HK	143 097	-1,4%	145 061	310,3%	-68 971

References

		30/06/2012		30/06/2011		30/06/2010
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	14 021	0%	0	0%	29
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	5 297	0%	0	0%	19 669
Of which royalties on licences and patents (charges)	A4	13 763	0%	0	0%	17 497

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)

			30/06/2012		30/06/2011		30/06/2010
	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%	14 976
	Gross value at the end of period	OL	0	0%	0	0%	4 371 174

Research and development Charge (Total I)

			30/06/2012		30/06/2011		30/06/2010
	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)

			30/06/2012		30/06/2011		30/06/2010
	Gross value at begin of period	KD	0	0%	0	0%	7 439
	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%	7 439

Tangible fixed assets (Total III)

			30/06/2012		30/06/2011		30/06/2010
	Gross value at begin of period	LN	0	0%	0	0%	36 345
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	21 801
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	14 976
	Gross value at the end of period	NH	0	0%	0	0%	43 170

Financial assets (Total IV)

			30/06/2012		30/06/2011		30/06/2010
	Gross value at begin of period	LQ	0	0%	0	0%	4 320 565
	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%	4 320 565

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

			30/06/2012		30/06/2011		30/06/2010
	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)

			30/06/2012		30/06/2011		30/06/2010
	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)

			30/06/2012		30/06/2011		30/06/2010
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	3 100
Increases		PF	0	0%	0	0%	1 488
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	4 588

Total fixed assets amotisation (Total III)

			30/06/2012		30/06/2011		30/06/2010
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	25 357
Increases		QV	0	0%	0	0%	11 331
Decreases		QW	0	0%	0	0%	14 533
	Decreasess by budget item transfer	QX	0	0%	0	0%	22 156

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			30/06/2012		30/06/2011		30/06/2010
	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

			30/06/2012		30/06/2011		30/06/2010
	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-I.0II)

			30/06/2012		30/06/2011		30/06/2010
	Value at begining of period	7C	243 038	3,1%	235 801	-7,6%	255 137
Increases		UB	32 104	-54,5%	70 516	122,8%	31 653
Decreases		UC	23 344	-63,1%	63 280	-69,6%	208 483
	Value at the end of period	UD	251 798	3,6%	243 037	210,4%	78 307

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	31 653

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	208 483
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			30/06/2012		30/06/2011		30/06/2010
	Value at begining of period	3Z	148 055	-10,0%	164 495	294,8%	41 667
Increases		TS	23 758	-38,0%	38 307	91,5%	20 000
Decreases		TT	5 621	-89,7%	54 746	0%	0
	Value at the end of period	TU	166 192	12,2%	148 056	140,1%	61 667

Total risk and charge provisions (Total II)

			30/06/2012		30/06/2011		30/06/2010
	Value at begining of period	5Z	94 982	33,2%	71 307	1329,9%	4 987
Increases		TV	8 346	-74,1%	32 209	176,4%	11 653
Decreases		TW	17 723	107,7%	8 534	0%	0
	Value at the end of period	TX	85 605	-9,9%	94 982	470,8%	16 640

Total Provision for depreciation (Total III)

			30/06/2012		30/06/2011		30/06/2010
	Value at begining of period	7B	0	0%	0	0%	208 483
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	208 483
	Value at the end of period	UA	0	0%	0	0%	0

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

		30/06/2012		30/06/2011		30/06/2010
Gross value	VT	1 316 581	-26,8%	1 798 698	616,2%	251 151
1 year at most	VU	1 316 146	-26,2%	1 784 203	610,4%	251 151
More than one year	VV	435	-97,0%	14 495	0%	0

State of loans

		30/06/2012		30/06/2011		30/06/2010
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	1 523	1592,2%	90	0%	0
Other financial assets (1 year at most)	UV	1 088	0%	0	0%	0

Receivables statement of assets

		30/06/2012		30/06/2011		30/06/2010
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	47 844
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%	4 158
Income taxes	VM	0	0%	0	0%	114 751
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%	65 451
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	1 798 608	35965,9%	4 987

Prepaid

		30/06/2012		30/06/2011		30/06/2010
Prepaid	VS	1 315 058	0%	0	0%	13 960

State Debt

			30/06/2012		30/06/2011		30/06/2010
	Total debt (gross)	VY	2 000 291	-32,0%	2 940 456	23,0%	2 390 685
1 year at most		VZ2	1 389 707	-20,6%	1 749 468	170,0%	647 983
More than 1 year and 5 years at most		VZ3	610 584	-48,7%	1 190 988	-31,7%	1 742 702
More than 5 years		VZ4	0	0%	0	0%	0

Details

			30/06/2012		30/06/2011		30/06/2010
	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	1 206 600	-31,1%	1 751 316	1268969,6%	138
1 year at most		VG2	596 016	6,4%	560 328	405934,8%	138
More than 1 year and 5 years at most		VG3	610 584	-48,7%	1 190 988	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	2 277 858
1 year at most		VH2	0	0%	0	0%	535 156
More than 1 year and 5 years at most		VH3	0	0%	0	0%	1 742 702
	Loans and various financial liabilities (gross)	8A1	0	0%	13 787	0%	0
1 year at most		8A2	0	0%	13 787	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	409 729	-35,1%	631 392	2727,7%	22 329
1 year at most		8B2	409 729	-35,1%	631 392	2727,7%	22 329
More than 1 year and 5 years at most		8B3	409 729	-35,1%	631 392	2727,7%	22 329
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	18 469
1 year at most		8C2	0	0%	0	0%	18 469
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	288 706	-42,7%	503 606	1118,1%	41 343
1 year at most		8D2	288 706	-42,7%	503 606	1118,1%	41 343
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%	1 871
1 year at most		VW2	0	0%	0	0%	1 871
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%	3 700
1 year at most		VQ2	0	0%	0	0%	3 700
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%	340
1 year at most		VI2	0	0%	0	0%	340
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	83 968	108,1%	40 355	63,8%	24 637
1 year at most		8K2	83 968	108,1%	40 355	63,8%	24 637
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	11 288	0%	0	0%	0
1 year at most		8L2	11 288	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		30/06/2012		30/06/2011		30/06/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	498 520

Table allocation results and other information
Dividends distributed

		30/06/2012		30/06/2011		30/06/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		30/06/2012		30/06/2011		30/06/2010
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

		30/06/2012		30/06/2011		30/06/2010
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

		30/06/2012		30/06/2011		30/06/2010
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

		30/06/2012		30/06/2011		30/06/2010
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

		30/06/2012		30/06/2011		30/06/2010
Average number of employees	YP	31	0%	31	0%	0

Groups and Shareholders

		30/06/2012		30/06/2011		30/06/2010
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

		30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Fixed Asset Financing		1,97	-5,3%	2,08	100%	1,04	2,06	-4,4%
Global Debt		130 days	-22,2%	167 days	-91,3%	1922 days	130 days	0%
Working Capital Fund overall net		185 days	4,5%	177 days	42,7%	124 days	126 days	46,8%
Financial independence		239,20%	61,5%	148,07%	53,0%	96,77%	1638,04%	-85,4%
More ratios
Solvability		57,99%	25,9%	46,07%	-3,6%	47,80%	38,80%	49,5%
Capacity debt futures		158,83%	80,2%	88,13%	-78,6%	411,82%	2505,16%	-93,7%
Coverage of current assets by net working capital overall		72,55%	11,2%	65,22%	6,7%	61,12%	42,99%	68,8%
General Liquidity		0,95	-6,9%	1,02	161,5%	0,39	0,85	11,8%
Restricted Liquidity		1,30	-18,8%	1,60	290,2%	0,41	1,17	11,1%

Management or rotation

		30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Need background in operating working capital		152 days	31,0%	116 days	16,0%	100 days	57 days	166,7%
Treasury		32 days	-44,8%	58 days	346,2%	13 days	44 days	-27,3%
Inventory turnover of goods		101 days	9,8%	92 days	-	days	53,50 days	88,8%
Average length of credit granted to customers		81 days	-11,0%	91 days	139,5%	38 days	68 days	19,1%
Average length of credit obtained suppliers		37 days	-32,7%	55 days	-30,4%	79 days	68 days	-45,6%
More ratios
Inventory turnover of raw materials in industrial enterprises		70 days	-48,9%	137 days	-	days	77 days	-9,1%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	307 days	-
Rotation tangible assets		%	-	%	-	1037,36%	462,59%	-

Profitability of the business

		30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Margin trading		7,84%	-4,9%	8,24%	0%	0	0%	0%
Profitability of the business		8,02	-24,8%	10,67	62,7%	6,56	5,34%	50,2%
Net profit		4,94%	3,6%	4,77%	-97,2%	169,02%	4,94%	0%
More ratios
Growth rate of turnover (excluding VAT)		-12,20%	-100,9%	1314,21%	74997,7%	1,75%	-5,72%	-113,3%
Rates integration		35,33%	2,0%	34,64%	-55,1%	77,14%	34,36%	2,8%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		73,78%	11,6%	66,11%	-25,8%	89,11%	77,35%	-4,6%
Weight interests		1,77	-48,8%	3,46%	-89,0%	31,47%	0,42%	321,4%

Return on capital

		30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Cash flow from the overall profitability		6,61%	4,6%	6,32%	-95,2%	131,82%	5,52%	19,7%
Rates of economic profitability		11%	-26,7%	15%	1400%	1%	11%	0%
Financial profitability		2886236%	11,3%	2593134%	17,6%	2204444%	1020048%	183,0%
Return on investment		9,12%	-23,7%	11,96%	-40,3%	20,03%	11,33%	-19,5%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	30/06/2012		30/06/2011		30/06/2010	Sector Median 2012
Turnover	5 560 825	-12,2%	6 333 198	1314,2%	447 827	2 236 072 €	148,7%

Sales of goods	1 764 631	-18,0%	2 152 363	0%	0
- Purchase of goods	1 344 529	-18,3%	1 644 885	0%	0
+/- Stock of goods variation	-16 114	-11,2%	-14 496	0%	0
Trading margin	436 216 €	-16,4%	521 974 €	0%	0 €	0 €	0%
	7,84 % CA	-4,9%	8,24 % CA	0%	0,00 % CA	0 % CA	0%

Sale of goods produced	3 796 194	-9,2%	4 180 835	833,6%	447 827
+/- Stocked production	375 082	1295,4%	-31 377	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	4 171 276 €	0,5%	4 149 458 €	826,6%	447 827 €	2 245 559 €	85,8%
	75,01 % CA	14,5%	65,52 % CA	-34,5%	100,00 % CA	99,57 % CA	-24,7%

Trading margin	436 216	-16,4%	521 974	0%	0	0	0%
+ Period Production	4 171 276	0,5%	4 149 458	826,6%	447 827	2 245 559	85,8%
- Purchase of raw materials	1 903 932	15,0%	1 655 620	0%	0
+/- Change in stocks of raw materiels	9 379	-93,3%	139 798	0%	0
- Other external purchases and charges	729 607	6,9%	682 382	566,7%	102 356
Added value	1 964 574 €	-10,4%	2 193 632 €	535,0%	345 471 €	903 213 €	117,5%
	35,33 % CA	2,0%	34,64 % CA	-55,1%	77,14 % CA	34,36 % CA	2,8%

Added value	1 964 574 €	-10,4%	2 193 632 €	535,0%	345 471 €	903 213 €	117,5%
+ Operating grants	8 894	-46,1%	16 497	0%	0
- Tax, duty and similar payments	77 917	-7,7%	84 378	921,3%	8 262
- Personal charges	1 449 495	-0,1%	1 450 228	371,1%	307 853
Gross operating surplus	446 056 €	-34,0%	675 523 €	2201,1%	29 356 €	53 540 €	733,1%
	8,02 % CA	-24,8%	10,67 % CA	62,7%	6,56 % CA	5,34 % CA	50,2%

Gross operating surplus	446 056 €	-34,0%	675 523 €	2201,1%	29 356 €	53 540 €	733,1%
+ Release of reserves and provisions	293 347	-13,0%	337 284	1162948,3%	29
+ Other operating income	14 291	-47,0%	26 985	37,1%	19 687
- Depreciation/Amortisation	364 171	6,6%	341 466	2563,7%	12 819
- Other charges	14 270	-42,6%	24 850	42,0%	17 503
Operating result	375 253 €	-44,3%	673 476 €	3491,9%	18 750 €	65 436 €	473,5%
	6,75 % CA	-36,5%	10,63 % CA	153,7%	4,19 % CA	5,33 % CA	26,6%

Operating result	375 253 €	-44,3%	673 476 €	3491,9%	18 750 €	65 436 €	473,5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	155 587	318,4%	37 188	-95,6%	839 197
- Financial charges	98 255	-55,1%	218 813	55,3%	140 917
Pre-tax result	432 585 €	-12,0%	491 851 €	-31,4%	717 030 €	53 659 €	706,2%
	7,78 % CA	0,1%	7,77 % CA	-95,1%	160,11 % CA	5,08 % CA	53,1%

Extraordinary income	32 554	-57,0%	75 752	2425,1%	3 000	16 825	93,5%
- Extraordinary charges	47 078	-60,8%	120 240	274,6%	32 097
Extraordinary result	-14 524 €	67,4%	-44 488 €	-52,9%	-29 097 €	0 €	0%
	-0,26 % CA	62,9%	-0,70 % CA	89,2%	-7 % CA	0,03 % CA	-966,7%

Pre-tax result	432 585 €	-12,0%	491 851 €	-31,4%	717 030 €	53 659 €	706,2%
Extraordinary result	-14 524 €	67,4%	-44 488 €	-52,9%	-29 097 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	143 097	-1,4%	145 061	310,3%	-68 971
Net result	274 964 €	-9,0%	302 302 €	-60,1%	756 904 €	101 059 €	172,1%
	4,94 % CA	3,6%	4,77 % CA	-97,2%	169,02 % CA	4,94 % CA	0%

Commentary

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

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

The shareholder's equity is more than 250,000€

The ratio total assets to total liabilities is 2,39

The return on total assets employed is positive

Industry code with low risk rating

The tangible fixed assets are 296,231 €

The debtor days are 83.23

The company is 6 years old

The sales to current assets ratio is 1,52

The liquidity acid test is less than 65%

Payment Information Summary - Trade Payment Data

Payment Information Summary - Trade Payment Data
Total number of Invoices available	5
Total number of Invoices paid within or up to 30 days after the due date	3
Total number of Invoices paid more than 30 days after the due date	0
Total number of Invoices currently outstanding where the due date has not yet been reached	2
Total number of Invoices currently outstanding beyond the due date	0

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

Group data

Group Structure

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company

Event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
17/12/2013	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 7728 - 497767962 RCS. JAMES BURN INTERNATIONAL. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2012.
23/01/2013	Bodacc B	Modification et mutation diverse
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 1460 - 497 767 962 RCS Alençon. JAMES BURN INTERNATIONAL. Forme : Société par actions simplifiée. Administration : Président et membre du comité de direction : VATOME Guy Membre du comité de direction : LEUNG She, Kwong Membre du comité de direction : BRIERE Didier Membre du comité de direction : TEOW BOON SENG Essex Membre du comité de direction : GALLETTE David Commissaire aux comptes titulaire : ADH EXPERTS (SAS) Commissaire aux comptes suppléant : DEROUET Michel. Activité : . Commentaires : Modification survenue sur l'administration.
31/01/2012	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 6800 - 497767962 RCS. JAMES BURN INTERNATIONAL. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot BP 134 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2011.
23/03/2011	Bodacc B	Modification et mutation diverse
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 1421 - 497 767 962 RCS Alençon. JAMES BURN INTERNATIONAL. Forme : Société par actions simplifiée. Capital : 500000 EUR. Activité : Prise de participation au capital de toutes sociétés. Prestation de services pour tous moyens notamment dans les domaines commerciaux, administratifs, comptables et financiers. Fabrication, achat, vente, négoce, distribution, représentation, importation, exportation de tous biens d'équipements servant l'industrie graphique. Commentaires : Modification survenue sur l'activité, la dénomination et Fusion - L236-1 à compter du 01/07/2010 : Personne(s) morale(s) ayant participé à l'opération : JAMES BURN INTERNATIONAL (RCS ALENCON 326 924 263) - société absorbée.
21/02/2011	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 8220 - 497767962 RCS. JBI HOLDING SAS. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot BP 134 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2010.
29/01/2011	JAL	Proposed merger
Orne combattante (L') Date de décision : 23/12/2010 Absorbant : 497767962 - JBI HOLDING SAS, 67 RUE DU DOCTEUR BLAIZOT, BP 134, 61300 L'AIGLE Absorbé : 326924263 - JAMES BURN INTERNATIONAL, 67 RUE DU DOCTEUR BLAIZOT, 61300 L'AIGLE
04/02/2010	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 6683 - 497767962 RCS. JBI HOLDING SAS. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot BP 134 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2009.
18/02/2009	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 6797 - 497767962 RCS. JBI HOLDING SAS. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot BP 134, 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2008.
22/03/2008	Bodacc C	Comptes annuels et rapports
61 - ORNE GREFFE DU TRIBUNAL DE COMMERCE D'ALENÇON 8171 - 497767962 RCS. JBI HOLDING SAS. Forme : Société par actions simplifiée. Adresse : 67 rue du Docteur Blaizot BP 134, 61304 L'Aigle. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2007.
11/09/2007	Bodacc B	Modifications et mutations diverses
1686 - RCS Alençon B 497 767 962. RC 07-B 98. JBI HOLDING S.A.S. Forme : S.A.S. Capital : 500 000 euros. Adresse du siège social : 67 rue du Docteur-Blaizot, B.P. 134,, 61304 Commentaires : modification survenue sur le capital (augmentation) et l'administration. Administration : membre du comité de direction : LEUNG (She, Kwong) (Nom d'usage : LEUNG). Président et membre du conseil de direction : VATOME (Guy) (Nom d'usage : VATOME). Commissaire aux comptes titulaire : DELOITTE ET ASSOCIES. Commissaire aux comptes suppléant : S.A.R.L. BEAS. Membres du comité de direction : BRIERE (Didier) (Nom d'usage : BRIERE) GALLETTE (David) (Nom d'usage : GALLETTE) TEOW BOON SENG (Essex) (Nom d'usage : TEOW BOON SENG). Date d'effet : 29 juin 2007.
07/06/2007	Bodacc A	Création d'établissement
0951 - RCS Alençon B 497 767 962. RC 07-B 98. JBI HOLDING S.A.S. Forme : S.A.S. Capital : 230 000 euros. Adresse du siège social : 67 rue du Docteur-Blaizot, B.P. 134, 61304 L'Aigle. Administration : président et membre du conseil de direction : VATOME (Guy) (Nom d'usage : VATOME). Commissaire aux comptes titulaire : DELOITTE ET ASSOCIES. Commissaire aux comptes suppléant : S.A.R.L. BEAS. Membres du comité de direction : BRIERE (Didier) (Nom d'usage : BRIERE) GALLETTE (David) (Nom d'usage : GALLETTE) TEOW BOON SENG (Essex) (Nom d'usage : TEOW BOON SENG). Cette société se constitue . Etablissement principal - Activité : prise de participations au capital de toutes sociétés prestations de services, par tous moyens, notamment dans les domaines commerciaux, administratifs, comptables et financiers . Adresse : 67 rue du Docteur-Blaizot, B.P. 134, 61304 L'Aigle. Date de début d'activité : 27 avril 2007.

Company events history

Date	Description
11/01/2014	Update Rating
17/12/2013	Bodacc C : Deposit accounts notice
10/12/2013	Update Rating
10/12/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/10/2013	Update Limit
18/10/2013	Update Rating
23/01/2013	Bodacc B: Various editing or changing
09/01/2013	Minutes of general meeting of shareholders
09/01/2013	New auditor
30/06/2012	New digitalised balance sheet filled
30/06/2012	New accounts available
31/01/2012	Bodacc C : Deposit accounts notice
28/01/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
30/06/2011	New accounts available
28/03/2011	Update of Company Activity
28/03/2011	Modification of Company Activity
23/03/2011	Bodacc B: Various editing or changing
10/03/2011	Declaration of conformity
10/03/2011	New company name
10/03/2011	Minutes of general meeting of shareholders
10/03/2011	Change to corporate purpose
10/03/2011	Updated articles of association
04/03/2011	Private document
21/02/2011	Bodacc C : Deposit accounts notice
19/01/2011	Legal Gazette: Proposed merger
01/07/2010	Modification to Company Identifier
01/07/2010	Update of Company Workforce
01/07/2010	Update of Company Name
30/06/2010	New accounts available
04/02/2010	Bodacc C : Deposit accounts notice
30/06/2009	New accounts available
18/02/2009	Bodacc C : Deposit accounts notice
30/06/2008	New accounts available
22/03/2008	Bodacc C : Deposit accounts notice
30/07/2007	Augmentation de Capital
30/07/2007	Acte modificatif
30/07/2007	Audit or Management Report
30/07/2007	Rapport des Commissaires ou du Gérant
30/07/2007	Updated articles of association
30/07/2007	Statuts mis à jour
30/07/2007	Minutes of general meeting of shareholders
30/07/2007	PV d'Assemblée
30/07/2007	Private document
30/07/2007	Appointment/resignation of company officers
30/07/2007	Capital increase
30/06/2007	New accounts available
01/06/2007	Update of Company Concern status
01/06/2007	Reactivation of Company
01/06/2007	Modification of Company Activity
02/05/2007	Company formation
02/05/2007	Certificat de dépôt des fonds
02/05/2007	Fund deposit certificate
02/05/2007	Private document
02/05/2007	Acte sous seing privé
02/05/2007	Articles of association
02/05/2007	Formation de Société
27/04/2007	Formation of Company

Establishment events history

Date	Description
01/03/2014	Update Rating
10/12/2013	Update Limit
10/12/2013	Update Rating
10/07/2013	Update Limit
10/07/2013	Update Rating
12/01/2013	Update Rating
27/12/2012	Update Limit
27/12/2012	Update Rating
23/11/2012	Update Rating
08/09/2012	Update Rating
18/05/2012	Update of phone numbers
28/01/2012	Update Limit
28/01/2012	Update Rating
21/10/2011	Update Rating
25/04/2011	Update Rating
29/03/2011	Update Rating
28/03/2011	Modification of Head office Activity
28/03/2011	Update of Establishment Activity
08/02/2011	Update Limit
01/07/2010	Modification of Head office
01/07/2010	Update of Establishment Workforce
24/02/2010	Update Limit
24/02/2010	Update Rating
02/01/2010	Update Rating
16/02/2009	Update Limit
30/04/2008	Update Limit
29/04/2008	Update Rating
01/06/2007	Modification of Head office
01/06/2007	Update of Establishment Concern status
27/04/2007	Formation of Head office

directors

Name	M. VATOME GUY
Manager position	President	Date of birth	19/06/1953
Place of birth	DOULLENS (80)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M GUY VATOME	- - -

Top of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.33
UK Pound	1	Rs.99.42
Euro	1	Rs.80.32

INFORMATION DETAILS

Analysis Done by :	DIV
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.