MIRA INFORM REPORT

Report Date :

30.06.2014

IDENTIFICATION DETAILS

Name :	UGITECH
Registered Office :	AV Paul Girod 73400 Ugine
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	December 1996
Legal Form :	Public limited company
Line of Business :	Subject is engaged in Production of stainless steel long products (martensitic, ferritic, austenitic, super austenitic, duplex, etc..) And alloys in the form of semi-finished products, round and hexagonal bars, wire rods, wire and profiles son for the manufacture of very different pieces : valves, taps, couplings, screws and fasteners, shafts, turbine components and engines, deck fittings, electronic components, welding rods, cutlery, surgical equipment.
No. of Employees	1,000 to 1,999

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 name and address

NAME	UGITECH	EUR VAT Number	FR89410436158
Activity (APE)	Production of stainless steel long products	Legal form	Public limited company with board of directors
Phone	04 79 89 30 30	RCS Registration	RCS Chambery 9 410 436 158
Fax	04 79 89 31 00	Share capital	80,297,295 Euros
Address	UGITECH AV PAUL GIROD 73400 UGINE	Incorporated Date	12/1996
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	12
Total number of Invoices paid within or up to 30 days after the due date	6
Total number of Invoices paid more than 30 days after the due date	6
Total number of Invoices currently outstanding where the due date has not yet been reached	0
Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number
SCHMOLZ & BICKENBACH AG	-

Current Directors

4

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	663,296,000 €	722,175,000 €	578,170,000 €
Gross Operating Surplus	4.37 % Turnover	5.07 % Turnover	2.15 % Turnover
Shareholders’ equity	160,949,000 €	160,407,000 €	132,816,000 €
Net result	14,533,000 €	22,273,000 €	-12,720,000 €
Employees	1 000 to 1 999 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Production of stainless steel long products
RCS Registration	RCS Chambery 9 410 436 158	Share capital	80,297,295 Euros
Registration Court	Chambery (73)	Legal form	Public limited company with board of directors
Court Registry Number	19 9 9B50037	EUR VAT Number	FR89410436158
Incorporation Date	12/1996	Formation Date	12/1996
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Production of stainless steel long products (martensitic, ferritic, austenitic, super austenitic, duplex, etc..) And alloys in the form of semi-finished products, round and hexagonal bars, wire rods, wire and profiles son for the manufacture of very different pieces : valves, taps, couplings, screws and fasteners, shafts, turbine components and engines, deck fittings, electronic components, welding rods, cutlery, surgical equipment	Business Pages FT®	ACIER: PRODUITS SIDERURGIQUES ET TRANSFORMES (FABRICATION, NEGOCE)
Postal Address	UGITECH AV PAUL GIROD 73400 UGINE	Trading Address	AVENUE PAUL GIROD 73400 UGINE
Telephone	04 79 89 30 30
Fax	04 79 89 31 00

Type	Head office	Status	Economically active
Formation Date	12/1998	Reason for formation	Contribution
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Savoie (73)	Region	Rhône-Alpes
District	1	Area	28
City	UGINE	Size of urban area

Other establishments

Branches	7 branch entities in this company
Head office	> UGITECH <<< - Sidérurgie (2410Z) in UGINE (73400)
Secondary establishments	> UGITECH - Sidérurgie (2410Z) in BRIONNE (27800) > UGITECH - Sidérurgie (2410Z) in ANNECY (74000) > UGITECH - Sidérurgie (2410Z) in GRIGNY (69520) > UGITECH - Sidérurgie (2410Z) in UGINE (73400) > ...

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce

Workforces

Workforce at address

1 000 to 1 999 employees

Company workforce

1 000 to 1 999 employees

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Financial data

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	12/09/2013	12/09/2013	14/09/2011
Activity Code	2410Z	2410Z	2410Z
Employees	0	0	1481

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	156,268,000	-3.2%	161,380,000	5.8%	152,531,000	3,617,139.50	4220.2%
- Intangible assets	9,398,000	-55.4%	21,085,000	82.7%	11,538,000	55,775	16749.8%
- Tangible assets	125,720,000	5.4%	119,270,000	3.4%	115,360,000	1,817,711	6816.4%
- Financial assets	21,150,000	-34.1%	32,090,000	25.2%	25,633,000	18,787.50	112474.9%
Net current assets	186,449,000	-12.6%	213,211,000	3.4%	206,235,000	9,663,230.50	1829.5%
- Stocks	112,432,000	-6.3%	120,011,000	0.6%	119,260,000	3,339,780	3266.4%
- Advanced payments	25,000	-12.6%	62,000	-85.0%	413,000	0	0%
- Receivables	64,893,000	-21.9%	83,131,000	4.2%	79,764,000	3,315,515.50	1857.3%
- Securities and cash	9,099,000	-9.1%	10,007,000	47.2%	6,799,000	64,822.50	13936.8%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	368,000	-63.5%	1,007,000	319.6%	240,000	0	0%
Total Assets	343,083,000	-8.7%	375,599,000	4.6%	359,004,000	12,930,504	2553.3%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	160,949,000	0.3%	160,407,000	20.8%	132,816,000	2,035,573.50	7806.8%
Share capital	80,297,000	0%	80,297,000	0%	80,297,000	2,068,500	3781.9%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	28,281,000	-9.0%	31,081,000	-4.1%	32,404,000	87,789.50	32114.6%
Liabilities	153,576,000	-16.1%	183,132,000	-5.4%	193,527,000	8,401,358	1728.0%
- Financial liabilities	31,687,000	-21.2%	40,188,000	-22.6%	51,955,000	281,069	11173.7%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	84,253,000	-18.1%	102,916,000	2.9%	100,006,000	1,830,979	4501.5%
- Tax and social liabilities	29,978,000	-8.4%	32,716,000	-3.4%	33,876,000	674,944	4341.6%
- Other debts and fixed assets liabilities	6,636,000	-10.6%	7,425,000	-2.4%	7,607,000	227,836.50	2812.6%
Account regularization	1,300,000	50.1%	866,000	155.5%	339,000	0	0%
Total liabilities	343,083,000	-8.7%	375,600,000	4.6%	359,004,000	12,930,502	2553.3%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	670,282,000	-11.3%	755,629,000	16.3%	649,797,000	17,111,365.50	3817.2%
Net turnover	663,296,000	-8.2%	722,175,000	24.9%	578,170,000	17,183,778.50	3760.0%
- of which net export turnover	561,604,000	-6.7%	601,630,000	25.8%	478,248,000	9,551	5879954.4%
Operating charges	648,723,000	-10.9%	728,400,000	14.0%	639,030,000	17,837,617	3536.8%
Operating profit/loss	21,559,000	-20.8%	27,229,000	152.9%	10,767,000	16,040.50	134303.5%
Financial income	445,000	-95.2%	9,187,000	176.4%	3,324,000	6,328.50	6931.7%
Financial charges	18,657,000	89.0%	9,869,000	-15.5%	11,673,000	22,994	81038.6%
Financial profit/loss	-18,212,000	-2570.4%	-682,000	91.8%	-8,349,000	-4,966	-366633.8%
Pretax net operating income	3,245,000	-87.8%	26,649,000	1002.1%	2,418,000	3,027.50	107084.1%
Extraordinary income	22,141,000	209.8%	7,146,000	-44.2%	12,812,000	64,945.50	33991.7%
Extraordinary charges	7,210,000	-33.8%	10,897,000	-63.2%	29,635,000	44,149	16231.1%
Extraordinary profit/loss	14,931,000	498.1%	-3,751,000	77.7%	-16,823,000	22	67868081.8%
Net result	14,533,000	-34.8%	22,273,000	275.1%	-12,720,000	7,579	191653.5%

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	343,083,000	-8.7%	375,599,000	4.6%	359,004,000
	Gross	CO	606,491,000	-1.8%	617,630,000	1.9%	606,001,000
	Amortisation	1A	263,408,000	8.8%	242,031,000	-2.0%	246,997,000

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	156,268,000	-3.2%	161,380,000	5.8%	152,531,000
	Gross	BJ	412,154,000	4.2%	395,617,000	1.4%	390,267,000
	Amortisation	BK	255,886,000	9.2%	234,237,000	-1.5%	237,736,000

Intangilable fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Start-up cost	Net	0	0%	16,488,000	0%	0
	Gross	AB	0	0%	16,488,000	0%	0
	Amortisation	AC	0	0%	11,065,000	0%	0
	R & D expenses	Net	6,059,000	35.9%	4,458,000	-13.9%	5,176,000
	Gross	CX	18,715,000	2.1%	18,333,000	24.4%	14,732,000
	Amortisation	AE	12,656,000	-8.8%	13,875,000	45.2%	9,556,000
	Distributorships, patents	Net	3,339,000	0%	0	0%	6,083,000
	Gross	AF	19,185,000	0%	0	0%	18,270,000
	Amortisation	AG	15,846,000	0%	0	0%	12,187,000
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	139,000	-50.2%	279,000
	Gross	AL	0	0%	139,000	-50.2%	279,000
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	9,398,000	-55.4%	21,085,000	82.7%	11,538,000

Tangilble fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Lands	Net	5,908,000	7.2%	5,513,000	-4.7%	5,782,000
	Gross	AN	10,149,000	7.2%	9,466,000	-1.1%	9,569,000
	Amortisation	AO	4,241,000	7.3%	3,953,000	4.4%	3,787,000
	Buildings	Net	22,523,000	12.4%	20,038,000	-2.3%	20,510,000
	Gross	AP	63,504,000	6.3%	59,754,000	-1.0%	60,379,000
	Amortisation	AQ	40,981,000	3.2%	39,716,000	-0.4%	39,869,000
	Plant	Net	75,483,000	7.5%	70,229,000	-3.9%	73,043,000
	Gross	AR	227,202,000	4.9%	216,515,000	-1.6%	220,118,000
	Amortisation	AS	151,719,000	3.7%	146,286,000	-0.5%	147,075,000
	Other tangible fixed assets	Net	935,000	-48.9%	1,828,000	-44.9%	3,316,000
	Gross	AT	10,210,000	1.1%	10,099,000	-9.6%	11,174,000
	Amortisation	AU	9,275,000	12.1%	8,271,000	5.3%	7,858,000
	Fixed assets in construction	Net	20,871,000	-3.7%	21,662,000	70.4%	12,709,000
	Gross	AV	20,871,000	-3.7%	21,662,000	70.4%	12,709,000
	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	125,720,000		119,270,000		115,360,000

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	16,073,000	-38.6%	26,170,000	31.9%	19,838,000
	Gross	CU	37,232,000	0%	37,232,000	0.0%	37,233,000
	Amortisation	CV	21,159,000	91.3%	11,062,000	-36.4%	17,395,000
	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	14,000	0%	14,000	250.0%	4,000
	Gross	BD	14,000	0%	14,000	250.0%	4,000
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	46,000	0%	46,000	-2.1%	47,000
	Gross	BF	55,000	0%	55,000	0%	56,000
	Amortisation	BG	9,000		9,000		9,000
	Other financial assets	Net	5,017,000	-14.4%	5,860,000	2.0%	5,744,000
	Gross	BH	5,017,000	-14.4%	5,860,000	2.0%	5,744,000
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		21,150,000		32,090,000		25,633,000

Current Assets (III)

			31/12/2012		31/12/2011		31/12/2010
	Total Assets	Net	186,449,000	-12.6%	213,211,000	3.4%	206,235,000
	Gross	CJ	193,971,000	-12.2%	221,005,000	2.6%	215,495,000
	Amortisation	CK	7,522,000	-3.5%	7,794,000	-15.8%	9,259,000

Stocks

			31/12/2012		31/12/2011		31/12/2010
	Raw materials	Net	18,193,000	2.5%	17,743,000	-2.1%	18,125,000
	Gross	BL	22,300,000	0.8%	22,127,000	-6.3%	23,626,000
	Amortisation	BM	4,107,000	-6.3%	4,384,000	-20.3%	5,501,000
	Work in progress (goods)	Net	24,428,000	-20.9%	30,889,000	15.7%	26,708,000
	Gross	BN	24,428,000	-20.9%	30,889,000	15.7%	26,708,000
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	2,000	100%	1,000	0%	0
	Gross	BP	2,000	100%	1,000	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	64,305,000	-2.3%	65,805,000	-4.9%	69,185,000
	Gross	BR	64,586,000	-2.7%	66,371,000	-4.9%	69,789,000
	Amortisation	BS	281,000	-50.4%	566,000	-6.3%	604,000
	Goods for resale	Net	5,504,000	-1.2%	5,573,000	6.3%	5,242,000
	Gross	BT	5,650,000	-5.0%	5,945,000	1.4%	5,865,000
	Amortisation	BU	146,000	-60.8%	372,000	-40.3%	623,000
	Sub Total Stocks	Net	112,432,000	-6.3%	120,011,000	0.6%	119,260,000

Advance payments to suppliers

			31/12/2012		31/12/2011		31/12/2010
	Advance payments to suppliers	Net	25,000	-59.7%	62,000	-85.0%	413,000
	Gross	BV	25,000	-59.7%	62,000	-85.0%	413,000
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2012		31/12/2011		31/12/2010
	Trade accounts receivable	Net	55,693,000	-7.8%	60,414,000	20.8%	50,004,000
	Gross	BX	58,681,000	-6.7%	62,886,000	19.7%	52,536,000
	Amortisation	BY	2,988,000	20.9%	2,472,000	-2.4%	2,532,000
	Other debtors	Net	9,115,000	-59.6%	22,587,000	-23.9%	29,681,000
	Gross	BZ	9,115,000	-59.6%	22,587,000	-23.9%	29,681,000
	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	64,808,000	-21.9%	83,001,000	4.2%	79,685,000

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	9,099,000	-9.1%	10,007,000	47.2%	6,799,000
	Gross	CF	9,099,000	-9.1%	10,007,000	47.2%	6,799,000
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	9,099,000	-9.1%	10,007,000	47.2%	6,799,000

Prepaid expenses

			31/12/2012		31/12/2011		31/12/2010
	Prepaid expenses	Net	85,000	-34.6%	130,000	64.6%	79,000
	Gross	CH	85,000	-34.6%	130,000	64.6%	79,000
	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	368,000	-63.5%	1,007,000	319.6%	240,000
Gross		368,000	-63.5%	1,007,000	319.6%	240,000

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	343,083,000	-8.7%	375,600,000	4.6%	359,004,000

Shareholder Equity (I)

			31/12/2012		31/12/2011		31/12/2010
	Total shareholders' equity (Total I)	DL	160,949,000	0.3%	160,407,000	20.8%	132,816,000
	Equity and shareholders' equity	DA	80,297,000	0%	80,297,000	0%	80,297,000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	33,125,000	0%	33,125,000	0%	33,125,000
	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	5,125,000	0%	5,125,000	0%	5,125,000
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-50,088,000	30.8%	-72,361,000	-21.3%	-59,641,000
	Profit or loss for the period	DI	14,533,000	-34.8%	22,273,000	275.1%	-12,720,000
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	77,957,000	-15.2%	91,948,000	6.1%	86,630,000

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	28,281,000	-9.0%	31,081,000	-4.1%	32,404,000
	Risk provisions	DP	1,011,000	-37.0%	1,604,000	7.1%	1,498,000
	Reserves for charges	DQ	27,270,000	-7.5%	29,477,000	-4.6%	30,906,000

Liabilities (IV)

			31/12/2012		31/12/2011		31/12/2010
	Total Liabilities (Total IV)	EC	153,576,000	-16.1%	183,132,000	-5.4%	193,527,000
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	241,000	551.4%	37,000	-99.7%	12,179,000
	Sundry loans and financial liabilities	DV	31,446,000	-21.7%	40,151,000	0.9%	39,776,000
	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	84,253,000	-18.1%	102,916,000	2.9%	100,006,000
	Tax and social security liabilities	DY	29,978,000	-8.4%	32,716,000	-3.4%	33,876,000
	Fixed asset liabilities	DZ	3,117,000	2.7%	3,036,000	-18.8%	3,739,000
	Other debts	EA	3,241,000	-5.0%	3,410,000	-5.6%	3,612,000

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	278,000	-71.6%	979,000	282.4%	256,000

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	1,300,000	50.1%	866,000	155.5%	339,000

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	21,559,000	-20.8%	27,229,000	152.9%	10,767,000

2 -Financial result(V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	-18,212,000	-2570.4%	-682,000	91.8%	-8,349,000

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	3,245,000	-87.8%	26,649,000	1002.1%	2,418,000

4 -Extraordinary result(VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	14,931,000	498.1%	-3,751,000	77.7%	-16,823,000

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	14,533,000	-34.8%	22,273,000	275.1%	-12,720,000

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	692,868,000	-10.3%	772,064,000	15.9%	665,933,000

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	678,334,000	-9.5%	749,792,000	10.5%	678,655,000

Operating income(I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	670,282,000	-11.3%	755,629,000	16.3%	649,797,000

Operating income (details)

			31/12/2012		31/12/2011		31/12/2010
	Sale of goods for resale	FC	34,381,000	-10.4%	38,372,000	-0.9%	38,709,000
	France	FA	12,267,000	-16.0%	14,606,000	11.4%	13,115,000
	Export	FB	22,114,000	-7.0%	23,766,000	-7.1%	25,594,000
	Sale of goods produced	FF	622,832,000	-8.5%	680,441,000	27.2%	534,949,000
	France	FD	86,580,000	-15.8%	102,772,000	21.8%	84,347,000
	Export	FE	536,252,000	-7.2%	577,669,000	28.2%	450,602,000
	Sale of services	FI	6,083,000	80.9%	3,362,000	-25.5%	4,512,000
	France	FG	2,845,000	-10.2%	3,167,000	28.7%	2,460,000
	Export	FH	3,238,000	1560.5%	195,000	-90.5%	2,052,000
	Net turnover	FL	663,296,000	-8.2%	722,175,000	24.9%	578,170,000
	France	FJ	101,692,000	-15.6%	120,545,000	20.6%	99,922,000
	Export	FK	561,604,000	-6.7%	601,630,000	25.8%	478,248,000
	Stocked production	FM	-8,247,000	-162.7%	13,158,000	-69.3%	42,919,000
	Self-constructed assets	FN	3,294,000	4.8%	3,143,000	-3.8%	3,266,000
	Operating grants	FO	20,000	-66.1%	59,000	-41.0%	100,000
	Release of reserves and provisions	FP	11,677,000	-28.9%	16,412,000	-33.3%	24,607,000
	Other income	FQ	242,000	-64.5%	682,000	-7.2%	735,000

Operating charges(II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	648,723,000	-10.9%	728,400,000	14.0%	639,030,000

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	32,758,000	-12.0%	37,217,000	7.4%	34,637,000
Change in stocks of goods for resale	FT	296,000	194.3%	-314,000	-124.9%	1,262,000
Purchase of raw materials	FU	374,133,000	-10.8%	419,286,000	14.4%	366,426,000
Change in stocks of raw materials	FV	-173,000	-101.2%	14,125,000	48606.9%	29,000
Other external purchases and charges	FW	123,794,000	-7.6%	133,934,000	22.4%	109,427,000
Tax, duty and similar payments	FX	6,852,000	4.4%	6,564,000	-5.7%	6,960,000
Payroll	FY	60,327,000	-0.5%	60,635,000	-3.9%	63,090,000
Social security costs	FZ	31,420,000	3.1%	30,481,000	0.9%	30,204,000

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	11,972,000	-4.1%	12,484,000	6.4%	11,735,000
Amortisation of fixed assets	GB	0	0%	6,443,000	0%	0
Depreciation/amortisation of current assets	GC	5,105,000	-15.0%	6,006,000	-15.3%	7,088,000
Provisions for risks and charges	GD	1,628,000	0%	0	0%	6,795,000

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	611,000	-60.3%	1,539,000	11.8%	1,377,000

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%	102,000	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	102,000	0%	0	0%	0

Financial income(V)

			31/12/2012		31/12/2011		31/12/2010
	Total financial income (Total V)	GP	445,000	-95.2%	9,187,000	176.4%	3,324,000
	Share financial income	GJ	0	0%	1,000	0%	0
	Other investment income & capitalised receivables	GK	1,000	0%	0	0%	1,000
	Other interest and similar income	GL	259,000	-71.8%	920,000	-10.0%	1,022,000
	Released provisions and transferred charges	GM	0	0%	6,333,000	175.2%	2,301,000
	Exchange gains	GN	185,000	-90.4%	1,933,000	0%	0
	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	18,657,000	89.0%	9,869,000	-15.5%	11,673,000
	Financial reserves and provisions	GQ	11,212,000	824.3%	1,213,000	-77.8%	5,464,000
	Interest and similar charges	GR	7,445,000	-14.0%	8,656,000	45.5%	5,951,000
	Exchange losses	GS	0	0%	0	0%	258,000
	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	22,141,000	209.8%	7,146,000	-44.2%	12,812,000
	Extraordinary operating income	HA	1,332,000	32.5%	1,005,000	0%	0
	Extraordinary income from capital transactions	HB	9,000	-99.4%	1,610,000	28.8%	1,250,000
	Released provisions and transferred charges	HC	20,800,000	359.1%	4,531,000	-60.8%	11,562,000

Extraordinary charges(VIII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary charges (Total VIII)	HH	7,210,000	-33.8%	10,897,000	-63.2%	29,635,000
	Extraordinary operating charges	HE	21,000	-93.1%	305,000	76.3%	173,000
	Extraordinary charges from capital transactions	HF	0	0%	365,000	-84.6%	2,373,000
	Extraordinary reserves and provisions	HG	7,189,000	-29.7%	10,227,000	-62.2%	27,089,000

Employee profit sharing(IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	487,000	0%	0	0%	0

Tax on profits(X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	3,155,000	404.0%	626,000	137.2%	-1,683,000

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%	28,358,000
	Decreasess by transfers	OK2	0	0%	0	0%	4,947,000
	Gross value at the end of period	OL	0	0%	0	0%	390,267,000

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%	14,121,000
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	1,509,000
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	897,000
	Gross value at the end of period	D0	0	0%	0	0%	14,733,000

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%	13,092,000
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	6,076,000
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	619,000
	Gross value at the end of period	LW	0	0%	0	0%	18,549,000

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%	302,662,000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	40,700,000
	Decreasess by budget item transfer	NG1	0	0%	0	0%	28,358,000
	Decreasess by transfers	NG2	0	0%	0	0%	1,056,000
	Gross value at the end of period	NH	0	0%	0	0%	313,949,000

Fiancial assets (Total IV)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LQ	0	0%	0	0%	43,116,000
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	2,295,000
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	2,375,000
	Gross value at the end of period	NK	0	0%	0	0%	43,037,000

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%	10,693,000
Increases		PF	0	0%	0	0%	1,474,000
Decreasess		PG	0	0%	0	0%	3,000
	Decreasess by budget item transfer	PH	0	0%	0	0%	12,164,000

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%	190,949,000
Increases		QV	0	0%	0	0%	8,696,000
Decreases		QW	0	0%	0	0%	1,056,000
	Decreasess by budget item transfer	QX	0	0%	0	0%	198,589,000

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%	897,000
Depreciation of fixed assets during period		SP	0	0%	0	0%	14,733,000
	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%	138,087,000
Increases		UB	0	0%	0	0%	45,760,000
Decreases		UC	0	0%	0	0%	38,125,000
	Value at the end of period	UD	0	0%	0	0%	145,722,000

Includes Total allocations

Operating	UE	0	0%	0	0%	13,882,000
Financial	UG	0	0%	0	0%	5,464,000
Exceptional	UJ	0	0%	0	0%	26,414,000

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	23,398,000
Financial	UH	0	0%	0	0%	2,301,000
Exceptional	UK	0	0%	0	0%	12,426,000

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	0	0%	0	0%	71,194,000
Increases		TS	0	0%	0	0%	25,339,000
Decreases		TT	0	0%	0	0%	9,904,000
	Value at the end of period	TU	0	0%	0	0%	86,629,000

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%	40,155,000
Increases		TV	0	0%	0	0%	9,174,000
Decreases		TW	0	0%	0	0%	16,924,000
	Value at the end of period	TX	0	0%	0	0%	32,405,000

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%	26,737,000
Increases		TY	0	0%	0	0%	11,248,000
Decreases		TZ	0	0%	0	0%	11,298,000
	Value at the end of period	UA	0	0%	0	0%	26,687,000

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%	88,096,000
1 year at most	VU	0	0%	0	0%	82,302,000
More than one year	VV	0	0%	0	0%	5,794,000

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%	56,000
Loans (1 year at most)	UR	0	0%	0	0%	6,000
Other financial assets (gross)	UT	0	0%	0	0%	5,744,000
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%	2,956,000
Other claims customer	UX	0	0%	0	0%	49,579,000
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%	67,000
Social Security and other social organizations	UZ	0	0%	0	0%	378,000
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	9,679,000
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	56,000
Group and Associates	VC	0	0%	0	0%	19,165,000
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	336,000

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	0	0%	0	0%	79,000

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	0	0%	0	0%	193,528,000
1 year at most		VZ2	0	0%	0	0%	193,473,000
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	55,000
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%	12,179,000
1 year at most		VG2	0	0%	0	0%	12,179,000
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%	93,000
1 year at most		8A2	0	0%	0	0%	38,000
More than 1 year and 5 years at most		8A3	0	0%	0	0%	55,000
	Suppliers and associated accounts (gross)	8B1	0	0%	0	0%	100,006,000
1 year at most		8B2	0	0%	0	0%	100,006,000
More than 1 year and 5 years at most		8B3	0	0%	0	0%	100,006,000
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	12,698,000
1 year at most		8C2	0	0%	0	0%	12,698,000
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%	11,820,000
1 year at most		8D2	0	0%	0	0%	11,820,000
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	287,000
1 year at most		8E2	0	0%	0	0%	287,000
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	6,747,000
1 year at most		VW2	0	0%	0	0%	6,747,000
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%	2,325,000
1 year at most		VQ2	0	0%	0	0%	2,325,000
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	3,739,000
1 year at most		8J2	0	0%	0	0%	3,739,000
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%	39,683,000
1 year at most		VI2	0	0%	0	0%	39,683,000
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%	3,612,000
1 year at most		8K2	0	0%	0	0%	3,612,000
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%	339,000
1 year at most		8L2	0	0%	0	0%	339,000
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%	40,000

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%	1,481

Groups and Shareholders

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

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Fixed Asset Financing		1.16	-1.7%	1.18	0.9%	1.17	1.29	-10.1%
Global Debt		83days	-8.8%	91days	-24.8%	121days	141days	-41.1%
Working Capital Fund overall net		35days	0%	35days	-12.5%	40days	56days	-37.5%
Financial independence		66783.82%	-82.8%	388970.27%	35568.0%	1090.53%	525.78%	12601.9%
More ratios
Solvability		46.91%	9.8%	42.71%	15.4%	37%	35.84%	30.9%
Capacity debt futures		%	-	%	-	1090.53%	631.46%	-
Coverage of current assets by net working capital overall		33.34%	4.7%	31.83%	6.1%	30.01%	37.66%	-11.5%
General Liquidity			-		-	0.43	0.75	-
Restricted Liquidity			-		-	0.46	0.91	-

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital		31days	3.3%	30days	-16.7%	36days	37days	-16.2%
Treasury		5days	0%	5days	25.0%	4days	4days	25.0%
Inventory turnover of goods		62days	6.9%	58days	-1.7%	59days	0days	0%
Average length of credit granted to customers		32days	3.2%	31days	-6.1%	33days	65days	-50.8%
Average length of credit obtained suppliers		57days	-6.6%	61days	-12.9%	70days	58days	-1.7%
More ratios
Inventory turnover of raw materials in industrial enterprises		20days	11.1%	18days	-18.2%	22days	53days	-62.3%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	184days	323days	-
Rotation tangible assets		%	-	%	-	184.16%	473.30%	-

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading		0.20%	0%	0.20%	-59.2%	0.49	0%	0%
Profitability of the business		4.37	-13.8%	5.07	135.8%	2.15	2.57%	70.0%
Net profit		2.19%	-28.9%	3.08%	240.0%	-2.20%	0.72%	204.2%
More ratios
Growth rate of turnover (excluding VAT)		-8.15%	-132.7%	24.91%	-52.5%	52.40%	-3.54%	-130.2%
Rates integration		19.23%	3.4%	18.59%	-4.5%	19.47%	23.79%	-19.2%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		71.94%	6.0%	67.88%	-18.1%	82.87%	79.08%	-9.0%
Weight interests		2.81	105.1%	1.37%	-32.2%	2.02%	0.79%	255.7%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability		6.77%	-4.9%	7.12%	857.4%	-0.94%	3.91%	73.1%
Rates of economic profitability		15%	-16.7%	18%	157.1%	7%	9.50%	57.9%
Financial profitability		160949000%	0.3%	160407000%	20.8%	132816000%	2035573.50%	7806.8%
Return on investment		17.23%	7.6%	16.02%	2910.5%	-0.57%	5.20%	231.3%

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	663,296,000	-8.2%	722,175,000	24.9%	578,170,000	17,183,778 €	3760.0%

Sales of goods	34,381,000	-10.4%	38,372,000	-0.9%	38,709,000
- Purchase of goods	32,758,000	-12.0%	37,217,000	7.4%	34,637,000
+/- Stock of goods variation	296,000	194.3%	-314,000	-124.9%	1,262,000
Trading margin	1,327,000 €	-9.7%	1,469,000 €	-47.7%	2,810,000 €	0 €	0%
	0.20 % CA	0%	0.20 % CA	-59.2%	0.49 % CA	0 % CA	0%

Sale of goods produced	628,915,000	-8.0%	683,803,000	26.8%	539,461,000
+/- Stocked production	-8,247,000	-162.7%	13,158,000	-69.3%	42,919,000
+ Self-constructed assets	3,294,000	4.8%	3,143,000	-3.8%	3,266,000
Period production	623,962,000 €	-10.9%	700,104,000 €	19.5%	585,646,000 €	9,248,848 €	6646.4%
	94.07 % CA	-3.0%	96.94 % CA	-4.3%	101.29 % CA	99.25 % CA	-5.2%

Trading margin	1,327,000	-9.7%	1,469,000	-47.7%	2,810,000	0	0%
+ Period Production	623,962,000	-10.9%	700,104,000	19.5%	585,646,000	9,248,848	6646.4%
- Purchase of raw materials	374,133,000	-10.8%	419,286,000	14.4%	366,426,000
+/- Change in stocks of raw materiels	-173,000	-101.2%	14,125,000	48606.9%	29,000
- Other external purchases and charges	123,794,000	-7.6%	133,934,000	22.4%	109,427,000
Added value	127,535,000 €	-5.0%	134,228,000 €	19.2%	112,574,000 €	1,179,175 €	10715.6%
	19.23 % CA	3.4%	18.59 % CA	-4.5%	19.47 % CA	23.79 % CA	-19.2%

Added value	127,535,000 €	-5.0%	134,228,000 €	19.2%	112,574,000 €	1,179,175 €	10715.6%
+ Operating grants	20,000	-66.1%	59,000	-41.0%	100,000
- Tax, duty and similar payments	6,852,000	4.4%	6,564,000	-5.7%	6,960,000
- Personal charges	91,747,000	0.7%	91,116,000	-2.3%	93,294,000
Gross operating surplus	28,956,000 €	-20.9%	36,607,000 €	194.7%	12,420,000 €	43,204.50 €	66920.8%
	4.37 % CA	-13.8%	5.07 % CA	135.8%	2.15 % CA	2.57 % CA	70.0%

Gross operating surplus	28,956,000 €	-20.9%	36,607,000 €	194.7%	12,420,000 €	43,204.50 €	66920.8%
+ Release of reserves and provisions	11,677,000	-28.9%	16,412,000	-33.3%	24,607,000
+ Other operating income	242,000	-64.5%	682,000	-7.2%	735,000
- Depreciation/Amortisation	18,705,000	-25.0%	24,933,000	-2.7%	25,618,000
- Other charges	611,000	-60.3%	1,539,000	11.8%	1,377,000
Operating result	21,559,000 €	-20.8%	27,229,000 €	152.9%	10,767,000 €	16,040.50 €	134303.5%
	3.25 % CA	-13.8%	3.77 % CA	102.7%	1.86 % CA	0.93 % CA	249.5%

Operating result	21,559,000 €	-20.8%	27,229,000 €	152.9%	10,767,000 €	16,040.50 €	134303.5%
+/- Result of joint-venture transferred from/to other partners	-102,000	-200%	102,000	0%	0
+ Financial income	445,000	-95.2%	9,187,000	176.4%	3,324,000
- Financial charges	18,657,000	89.0%	9,869,000	-15.5%	11,673,000
Pre-tax result	3,245,000 €	-87.8%	26,649,000 €	1002.1%	2,418,000 €	3,027.50 €	107084.1%
	0.49 % CA	-86.7%	3.69 % CA	778.6%	0.42 % CA	0.15 % CA	226.7%

Extraordinary income	22,141,000	209.8%	7,146,000	-44.2%	12,812,000	64,945.50	33991.7%
- Extraordinary charges	7,210,000	-33.8%	10,897,000	-63.2%	29,635,000
Extraordinary result	14,931,000 €	498.1%	-3,751,000 €	77.7%	-16,823,000 €	22 €	67868081.8%
	2.25 % CA	532.7%	-0.52 % CA	82.1%	-3 % CA	0 % CA	0%

Pre-tax result	3,245,000 €	-87.8%	26,649,000 €	1002.1%	2,418,000 €	3,027.50 €	107084.1%
Extraordinary result	14,931,000 €	498.1%	-3,751,000 €	77.7%	-16,823,000 €	22 €	67868081.8%
- Employee profit sharing	487,000	0%	0	0%	0
- Tax on profits	3,155,000	404.0%	626,000	137.2%	-1,683,000
Net result	14,534,000 €	-34.7%	22,272,000 €	275.1%	-12,722,000 €	7,579.50 €	191654.1%
	2.19 % CA	-28.9%	3.08 % CA	240.0%	-2.20 % CA	0.72 % CA	204.2%

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	05/11/2009
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
30/05/2014	JAL	Appointment of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 12/05/2014 Société faisant l'objet d'une nomination : 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Nominé : Monsieur Clemens Hier En la fonction de : Président du Conseil d'Administration Nominé : Monsieur Clemens Hier En la fonction de : Administrateur
30/05/2014	JAL	Resignation / Revocation of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 12/05/2014 La société 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Fait l'objet du départ de Monsieur Hans Jùrgen Wiecha, De Monsieur Johannés Nonn
21/02/2014	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 1224 - 410 436 158 RCS Chambery. UGITECH. Forme : Société anonyme. Administration : Directeur général : LAMARQUE D'Arrouzat Patrick Administrateur : SCHMOLZ + BICKENBACH FRANCE représenté par OTTO Christian modification le 12 Octobre 2012 Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES SAS Commissaire aux comptes suppléant : AUDITEX Administrateur : LAMARQUE d'ARROUZAT Patrick modification le 24 Septembre 2012 Président du conseil d'administration : WIECHA Hans-Jürgen Elmar modification le 12 Février 2014. Activité : . Commentaires : Modification de représentant.
05/02/2014	JAL	Appointment of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 05/02/2014 Société faisant l'objet d'une nomination : 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Nominé : Monsieur Hans Jürgen WIECHA, DÛSSELDORF En la fonction de : Président du Conseil d'Administration
05/02/2014	JAL	Resignation / Revocation of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 05/02/2014 La société 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Fait l'objet du départ de Monsieur Johannes NONN, Eupener Strasse 70, DÛSSELDORF, De Monsieur Johannes NONN, Eupener Strasse 70, DÛSSELDORF
12/09/2013	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 1389 - 410 436 158 RCS Chambery. UGITECH. Forme : Société anonyme. Administration : Directeur général : LAMARQUE D'Arrouzat Patrick Administrateur : SCHMOLZ + BICKENBACH FRANCE représenté par OTTO Christian modification le 12 Octobre 2012 Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES SAS Commissaire aux comptes suppléant : AUDITEX Administrateur : LAMARQUE d'ARROUZAT Patrick modification le 24 Septembre 2012 Administrateur : WIECHA Hans-Jürgen Elmar en fonction le 04 Septembre 2013 Président du conseil d'administration : NONN Johannes Tobias en fonction le 04 Septembre 2013. Activité : . Commentaires : Modification de représentant.
30/08/2013	JAL	Resignation / Revocation of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 16/08/2013 La société 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Fait l'objet du départ de SCHMOLZ + BICKENBACH, De Madame Susanne Peiricks, De SCHMOLZ + BICKENBACH
30/08/2013	JAL	Appointment of the social representative
Dauphiné Libéré (Le)/Edition Chambéry et Aix les Bains Date de décision : 16/08/2013 Société faisant l'objet d'une nomination : 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Nominé : Monsieur Johannes Nonn En la fonction de : Président du Conseil d'Administration Nominé : Monsieur Jurgen Wiecha, D-40549 DÛSSELDORF En la fonction de : Administrateur Nominé : Monsieur Johannes Nonn, D-40549 DÛSSELDORF En la fonction de : Administrateur
22/08/2013	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBERY 5360 - 410436158 RCS. UGITECH. Forme : Société anonyme. Adresse : avenue Paul Girod 73400 Ugine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
21/10/2012	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 621 - 410 436 158 RCS Chambery. UGITECH. Forme : Société anonyme. Administration : Président du conseil d'administration : IMHOF Marcel Directeur général : LAMARQUE D'Arrouzat Patrick Administrateur : SCHMOLZ + BICKENBACH FRANCE représenté par OTTO Christian modification le 12 Octobre 2012 Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES SAS Commissaire aux comptes suppléant : AUDITEX Administrateur : LAMARQUE d'ARROUZAT Patrick modification le 24 Septembre 2012 Administrateur : PEIRICKS Suzanne en fonction le 05 Septembre 2012. Activité : . Commentaires : Modification de représentant.
13/09/2012	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 536 - 410 436 158 RCS Chambery. UGITECH. Forme : Société anonyme. Administration : Président du conseil d'administration : IMHOF Marcel Directeur général : LAMARQUE D'Arrouzat Patrick Administrateur : SCHMOLZ + BICKENBACH FRANCE représenté par PEIRICKS Susanne modification le 07 Avril 2011 Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES SAS Commissaire aux comptes suppléant : AUDITEX Administrateur : LAMARQUE D'Arrouzat Patrick en fonction le 05 Septembre 2012 Administrateur : PEIRICKS Suzanne en fonction le 05 Septembre 2012. Activité : . Commentaires : Modification de représentant.
07/09/2012	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 4669 - 410436158 RCS. UGITECH. Forme : Société anonyme. Adresse : avenue Paul Girod 73400 Ugine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
20/07/2012	JAL	Appointment of the social representative
Eco des Pays de Savoie (L ) Date de décision : 26/06/2012 Société faisant l'objet d'une nomination : 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Nominé : Monsieur Patrick LAMARQUE D'ARROUZAT, 73200 THENESOL En la fonction de : Administrateur Nominé : Non renseignée Marcel IMHOF, CH-6004 LUCERNE En la fonction de : Administrateur Nominé : Madame Susanne PEIRICKS, ACKERWINDER2 En la fonction de : Administrateur Nominé : 392272522 - SCHMOLZ + BICKENBACH FRANCE, SBF, 1 RUE DES GRANDS PRES, ZAE LES POINTES, 60230 CHAMBLY En la fonction de : Administrateur
20/07/2012	JAL	Appointment of the social representative
Eco des Pays de Savoie (L ) Date de décision : 26/06/2012 Société faisant l'objet d'une nomination : 410436158 - UGITECH, AV PAUL GIROD, 73400 UGINE Nominé : Monsieur Patrick LAMARQUE D'ARROUZAT, 73200 THENESOL En la fonction de : Administrateur Nominé : Non renseignée Marcel IMHOF, CH-6004 LUCERNE En la fonction de : Administrateur Nominé : Madame Susanne PEIRICKS, ACKERWINDER2 En la fonction de : Administrateur Nominé : 392272522 - SCHMOLZ + BICKENBACH FRANCE, SBF, 1 RUE DES GRANDS PRES, ZAE LES POINTES, 60230 CHAMBLY En la fonction de : Administrateur
12/09/2011	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 3665 - 410436158 RCS. UGITECH. Forme : Société anonyme. Adresse : avenue Paul Girod 73400 Cohennoz. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
15/04/2011	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 1367 - 410 436 158 RCS Chambery. UGITECH. Forme : Société anonyme. Administration : Président du conseil d'administration : IMHOF Marcel Directeur général : LAMARQUE D'Arrouzat Patrick Administrateur : SCHMOLZ + BICKENBACH FRANCE représenté par PEIRICKS Susanne modification le 07 Avril 2011 Administrateur : SCHMOLZ + BICKENBACH AG représenté par OTTO Christian Commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES SAS Commissaire aux comptes suppléant : AUDITEX. Activité : . Commentaires : Modification de représentant.
09/09/2010	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBÉRY 8674 - 410436158 RCS. UGITECH. Forme : Société anonyme à conseil d'administration. Adresse : avenue Paul Girod 73400 Ugine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
07/09/2009	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE COMMERCE DE CHAMBERY 5650 - 410436158 RCS. UGITECH. Forme : Société Anonyme à conseil d'administration. Adresse : avenue Paul Girod 73400 Ugine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
07/12/2008	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE D'ALBERTVILLE 2780 - 410 436 158 RCS Albertville. UGITECH. Forme : Société anonyme. Capital : 80297295.87 EUR. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Commentaires : départ d'administrateurs : OTTO (Christian) en qualité d'administrateur, IMHOF (Marcel) en qualité de représentant permanent de la société SHMOLTZ + BIZENBACH AG ; nomination de IMHOF (Marcel) en qualité de président du conseil d'administration et administrateur ; nomination de OTTO (Christian) en qualité de représentant permanent de la société SHMOLTZ + BIZENBACH AG ; départ de POLARD (Victor) en qualité de président directeur général et administrateur ; nomination de LARMARQUE d'ARROUZAT en qualité de directeur général, le 30/09/2008.
24/10/2008	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE D'ALBERTVILLE 1090 - 410 436 158 RCS Albertville. UGITECH. Forme : S.A. Administration : changement de commissaire aux comptes : ancienne mention : commissaire aux comptes titulaire : KPMG AUDIT SA, nouvelle mention : ERNST & YOUNG ET AUTRES SAS tour Crédit Lyonnais, 129, Servient, 69326 Lyon Cedex 3 ; commissaire aux comptes suppléant, ancienne mention : SCREVE (Arnaud), nouvelle mention : AUDITEX TOUR ERNST & YOUNG, 11, allée de l'Arche, 92037 Paris, La Défense Cedex. Capital : 80297295.87 EUR. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Commentaires : modification survenue sur l'administration ; date d'effet : 19/06/2008.
05/03/2008	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE D'ALBERTVILLE 4859 - 410 436 158 RCS Albertville. UGITECH. Forme : S.A. Administration : nomination d'un administrateur : OTTO (Christian). Capital : 175673496 EUR. Adresse du siège social : avenue Paul Girod, 73400 Ugine. Commentaires : nomination survenue sur l'administration, date d'effet : 05/12/2006.
05/03/2008	Bodacc B	Modification et mutation diverse
73 - SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE D'ALBERTVILLE 4860 - 410 436 158 RCS Albertville. UGITECH. Forme : S.A. Capital : 80297295.87 EUR. Adresse du siège social : avenue Paul Girod, 73400 Ugine. Commentaires : réduction du capital, ancien : 175 673 496 euros, date d'effet : 21/12/2006.
06/02/2008	Bodacc C	Comptes annuels et rapports
73 - SAVOIE GREFFE DU TRIBUNAL DE GRANDE INSTANCE D'ALBERTVILLE 2542 - 410436158 RCS. UGITECH. Forme : S.A.. Adresse : avenue Paul-Girod, 73400 Ugine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
10/05/2007	Bodacc B	Modifications et mutations diverses
1449 - RCS Albertville 410 436 158. RC 99-B 37. UGITECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod,, 73400 Administration : anciens administrateurs : STE ARCELOR FRANCE (anciennement USINOR) JOURON (Arnaud) COUASNON (Jean-Claude) et PICARD (Gérard). Nouveaux administrateurs : STE SCHMOLZ + BICKENBACH FRANCE, représentée par MOLLER (Torsten) STE SCHMOLZ + BICKENBACH HYDROFORM GmbH, représentée par EUCHNER (Axel) et STE SCHMOLZ + BICKENBACH AG, représentée par IMHOF (Marcel). Date d'effet : 4 juillet 2006.
10/05/2007	Bodacc B	Modifications et mutations diverses
1450 - RCS Albertville 410 436 158. RC 99-B 37. UGITECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod,, 73400 Administration : ancien administrateur : STE SCHMOLZ + BICKENBACH HYDROFORM GmbH. Date d'effet : 3 septembre 2006.
12/11/2006	Bodacc B	Modifications et mutations diverses
1558 - RCS Albertville 410 436 158. RC 99-B 37. UGITECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod,, 73400 Administration : anciens administrateurs : DANEL (Noël) et ORBAN (Cédric). Nouveaux administrateurs : PICARD (Gérard) et JOURON (Arnaud). Date d'effet : 14 mars 2006.
25/10/2006	Bodacc C	Avis de dépôt des comptes
2749 - RCS Albertville B 410 436 158. RC 99-B 37. UGITECH. Forme: S.A.. Adresse du siège social: avenue Paul-Girod,73400 Ugine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
22/01/2006	Bodacc C	Avis de dépôt des comptes
3101 - RCS Albertville B 410 436 158. RC 99-B 37. UGITECH. Forme: S.A.. Adresse du siège social: avenue Paul-Girod,73400 Ugine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
07/08/2005	Bodacc A	Vente et cession
974 - RCS B 410 436 331. RC 05-B 185. IMPHY MILL. Forme : S.A.S. Adresse du siège social : immeuble La Pacific, 11-13 cours Valmy, La Défense 7, 92800 Puteaux. Etablissement secondaire - Activité : fabrication, commercialisation de fil, machines allégées. Adresse : avenue Jean-Jaurès, B.P. 33, 58160 Imphy. Etablissement secondaire acquis par achat au prix stipulé de 1 822 000 euros. Date d'effet : 1er juin 2005. Précédent propriétaire : S.A. UGITECH. RCS B 410 436 158. Publication légale : Les Terres de Bourgogne du 17 juin 2005. Oppositions : au fonds.
05/11/2004	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGTIECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : nouveaux administrateurs : DANEL (Noel) et ORBAN (Cédric). Départ de VASSORT ( Francis). Date d'effet : 21 juin 2004.
03/06/2004	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGITECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : administrateurs démissionnaires : FRANCON (Daniel) et ROOS (Jozef). Date d'effet : 30 septembre 2003.
10/02/2004	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGITECH. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Commentaires : modification survenue sur la dénomination. Ancienne : UGINE SAVOIE IMPHY. Date d'effet : 28 décembre 2003.
16/01/2004	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGINE-SAVOIE IMPHY. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : nouveau directeur général : POLARD (Victor), déjà président du conseil d'administration. Date d'effet : 11 juin 2003.
14/02/2003	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : ancien commissaire aux comptes titulaire : DELOITTE TOUCHE TOHMATSU. Nouveau commissaire aux comptes titulaire : S.A. K.P.M.G. AUDIT. Ancien commissaire aux comptes suppléant : S.A.R.L. BEAS. Nouveau commissaire aux comptes suppléant : SCREVE (Arnaud). Date d'effet : 26 juin 2002.
20/09/2002	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 175 673 493 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : changement de représentant permanent de la STE USINOR, administrateur. Ancien : DOLLE (Guy). Nouveau : GILET (Jean-Yves). Administrateur démissionnaire : BOURRIER (Pierre). Nouvel administrateur : FRANCON (Daniel). Date d'effet : 29 octobre 2001.
19/09/2002	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : administrateur démissionnaire : DEMAEL (Jean-Philippe). Nouvel administrateur : ROOS (Joszef). P.-D.G et administrateur démissionnaire ROGY (Bernard). Nouveau président du conseil d'administration, directeur général et administrateur : POLARD ( Victor). Date d'effet : 5 mars 2002.
07/07/2002	Bodacc B	Modifications et mutations diverses
RCS Albertville 410436158 RC 99-B 37 UGINE-SAVOIE IMPHY. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : ancien représentant permanent de la STE USINOR, administrateur : DOLLE (Guy). Nouveau représentant permanent de la STE USINOR, administrateur : GILET (Jean-Yves). Administrateur démissionnaire : BOURRIER (Pierre). Nouvel administrateur : FRANCON (Daniel). Date d'effet : 29 octobre 2001.
23/01/2002	Bodacc B	Modifications et mutations diverses
RCS Albertville B 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 175 673 496 euros. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : ancien commissaire aux comptes titulaire : CALAN RAMOLINO ET ASSOCIES. Nouveau commissaire aux comptes titulaire : DELOITTE TOUCHE TOHMATSU. Ancien commissaire aux comptes suppléant : CALAN (Gilles). Nouveau commissaire aux comptes suppléant : S.A.R.L. BEAS. Date d'effet : 5 juin 2001.
28/11/2000	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Albertville B 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 1 152 342 600 F. Adresse : avenue Paul- Girod, 73400 Ugine Nouvelle situation du siège social. Capital : 175 673 496 euros. Date d'effet : 5 juin 2000.
10/03/2000	Bodacc B	Modifications et mutations diverses
RCS Albertville B 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 1 152 342 600 F. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : anciens administrateurs BRISON (Gérard) MICHEL (Alain) et RAMET (Roland). Date d'effet : 30 avril 1999.
10/03/2000	Bodacc B	Modifications et mutations diverses
RCS Albertville B 410436158 RC 99-B 37 UGINE SAVOIE IMPHY. Forme : S.A. Capital : 1 152 342 600 F. Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : ancien président du conseil d'administration et administrateur : CHABANIER (Jacques). Nouveau président du conseil d' administration et administrateur : ROGY (Bernard). Date d'effet : 2 décembre 1999.
02/11/1999	Bodacc B	Modifications et mutations diverses
RCS Albertville B 410 436 158 RC 99-B 37 UGINE-SAVOIE IMPHY. Forme : S.A. Capital : 1 152 342 600 F (fixe). Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : ancien administrateur : DUJARDIN (Jean) nouvel administrateur : COUASNON (Jean- Claude). Date d'effet : 22 avril 1999.
08/04/1999	Bodacc A	Création d'établissement
RCS Albertville B 410 436 158 A dater du: 2 février 1999 RC 99-B 37 UGINE- SAVOIE IMPHY. Forme : S.A. Capital : 1 152 342 600 F (fixe). Adresse du siège social : avenue Paul-Girod, 73400 Ugine. Administration : président du conseil d' administration : CHABANIER (Jacques) administrateurs : BOURRIER (Pierre), BRISON (Gérard), DEMAEL (Jean-Philippe), USINOR, dont le représentant permanent est : DOLLE (Guy), DUJARDIN (Jean), MICHEL (Alain), RAMET (Roland), VASSORT (Francis) commissaire aux comptes titulaire : CALAN RAMOLINO ET ASSOCIES commissaire aux comptes suppléant : DE CALAN (Gilles) Fonds principal acquis par apport-fusion, au montant évalué à 990 000 000 de F. Commentaires : réinstallation après transfert de l' immeuble la Pacific, 11-13 cours Valmy, la Défense 7, 92800 Puteaux Etablissement principal: Activité : fabrication, transformation et vente de tous produits métallurgiques. Adresse : avenue Paul-Girod, 73400 Ugine Date de début d'activité: 29 décembre 1998 Précédentes propriétaires IMPHY S.A. RCS 562 014 159 UGINE SAVOIE. RCS 552 082 661 Publication légale: L' Essor savoyard du 5 février 1999 déclaration de créances: au greffe du tribunal de grande instance d' Albertville.
26/02/1999	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 410 436 158 RC RC 96-B 7231 DEV'INOX. Forme : S.A. Adresse du siège social : immeuble La Pacific, 11-13, cours Valmy, La Défense 7 92800 Puteaux Date de radiation: 9 février 1999.
23/10/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 410 436 158 RC RC 96-B 7231 DEV'INOX. Forme : S.A. Administration : suppression : administrateur : BERTANSETTI (Claude). Nomination en qualité d'administrateur : MONTALEGRE (Bernard, Françoise). Commentaires : modification survenue sur l'administration.

Company events history

Date	Description
20/06/2014	Amendment
20/06/2014	Appointment/resignation of company officers
20/06/2014	Changes to the Board of Directors
30/05/2014	Legal Gazette: Resignation / Revocation of the social representative
12/05/2014	Legal Gazette: Appointment of the social representative
21/02/2014	Bodacc B: Various editing or changing
12/02/2014	Amendment
12/02/2014	New chairman (CEO, CoB)
05/02/2014	Legal Gazette: Resignation / Revocation of the social representative
05/02/2014	Legal Gazette: Appointment of the social representative
16/10/2013	Update Rating
16/10/2013	Update Limit
13/09/2013	Update Limit
13/09/2013	Update Rating
13/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
12/09/2013	Bodacc B: Various editing or changing
04/09/2013	Amendment
04/09/2013	Minutes of general meeting of shareholders
04/09/2013	Changes to the Board of Directors
04/09/2013	Appointment/resignation of company officers
30/08/2013	Update Rating
30/08/2013	Update Limit
30/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
30/08/2013	Legal Gazette: Resignation / Revocation of the social representative
22/08/2013	Bodacc C : Deposit accounts notice
16/08/2013	Legal Gazette: Appointment of the social representative
18/07/2013	Update Rating
18/07/2013	Update Limit
12/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
21/10/2012	Bodacc B: Various editing or changing
12/10/2012	Appointment/resignation of company officers
13/09/2012	Bodacc B: Various editing or changing
07/09/2012	Bodacc C : Deposit accounts notice
05/09/2012	Minutes of general meeting of shareholders
05/09/2012	Amendment
26/06/2012	Legal Gazette: Appointment of the social representative
04/05/2012	Payment incident closed
31/12/2011	New accounts available
06/10/2011	Payment incident detected
15/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
12/09/2011	Bodacc C : Deposit accounts notice
15/04/2011	Bodacc B: Various editing or changing
07/04/2011	Private document
07/04/2011	Appointment/resignation of company officers
07/04/2011	Acte sous seing privé
07/04/2011	Nomination/démission des organes de gestion
31/12/2010	New accounts available
09/09/2010	Bodacc C : Deposit accounts notice
25/06/2010	Payment incident closed
22/04/2010	Payment incident detected
31/12/2009	New accounts available
05/11/2009	Collection of preferential rights activated for this company
07/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
07/12/2008	Bodacc B: Various editing or changing
07/12/2008	New Bodacc B ads detected
31/10/2008	Minutes of Board meeting
31/10/2008	Private document
31/10/2008	Appointment/resignation of company officers
31/10/2008	Changes to the Board of Directors
31/10/2008	Acte modificatif
31/10/2008	Modification du Conseil d'Administration
24/10/2008	New Bodacc B ads detected
24/10/2008	Bodacc B: Various editing or changing
29/09/2008	Appointment/resignation of company officers
29/09/2008	New manager
29/09/2008	PV d'Assemblée
29/09/2008	Minutes of general meeting of shareholders
29/09/2008	Changes to the Board of Directors
29/09/2008	Modification du Conseil d'Administration
29/09/2008	Private document
05/03/2008	New Bodacc B ads detected
05/03/2008	Bodacc B: Various editing or changing
06/02/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
17/10/2007	Réduction de Capital
17/10/2007	Capital reduction
17/10/2007	Changes to the Board of Directors
17/10/2007	Private document
17/10/2007	Appointment/resignation of company officers
17/10/2007	PV d'Assemblée
17/10/2007	Minutes of general meeting of shareholders
17/10/2007	Minutes of Board meeting
17/10/2007	Statuts mis à jour
17/10/2007	Updated articles of association
30/01/2007	Minutes of Board meeting
30/01/2007	Acte modificatif
30/01/2007	New chairman (CEO, CoB)
30/01/2007	Modification du Conseil d'Administration
30/01/2007	Changes to the Board of Directors
30/01/2007	Private document
30/01/2007	Appointment/resignation of company officers
30/01/2007	PV d'Assemblée
30/01/2007	Minutes of general meeting of shareholders
30/01/2007	PV du Conseil d'Administration
31/12/2006	New accounts available
21/12/2006	Other modification of Establishment
12/04/2006	Modification du Conseil d'Administration
12/04/2006	PV du Conseil d'Administration
12/04/2006	Private document
12/04/2006	Appointment/resignation of company officers
12/04/2006	Nomination/démission des organes de gestion
12/04/2006	Minutes of Board meeting
12/04/2006	Changes to the Board of Directors
12/04/2006	Acte modificatif
12/04/2006	Acte sous seing privé
31/12/2005	New accounts available
31/12/2004	New accounts available
17/12/2004	Acte sous seing privé
17/12/2004	PV d'Assemblée
17/12/2004	Minutes of general meeting of shareholders
17/12/2004	Private document
17/12/2004	Continuation of business despite loss of equity
17/12/2004	Continuation malgré perte supérieure à la moitié du capital
23/07/2004	Appointment/resignation of company officers
23/07/2004	Changes to the Board of Directors
23/07/2004	Modification du Conseil d'Administration
23/07/2004	Minutes of general meeting of shareholders
23/07/2004	Nomination/démission des organes de gestion
23/07/2004	PV d'Assemblée
23/07/2004	Acte sous seing privé
23/07/2004	Private document
19/03/2004	Nomination/démission des organes de gestion
19/03/2004	Modification du Conseil d'Administration
19/03/2004	PV du Conseil d'Administration
19/03/2004	PV d'Assemblée
19/03/2004	Acte modificatif
19/03/2004	Acte sous seing privé
31/12/2003	New accounts available
17/12/2003	PV d'Assemblée
17/12/2003	Statuts mis à jour
17/12/2003	Changement de dénomination sociale
17/12/2003	Acte sous seing privé
07/11/2003	PV d'Assemblée
07/11/2003	Nomination/démission des organes de gestion
07/11/2003	PV du Conseil d'Administration
07/11/2003	Modification du Conseil d'Administration
07/11/2003	Statuts mis à jour
07/11/2003	Acte sous seing privé
13/09/2002	Acte modificatif
13/09/2002	Acte sous seing privé
13/09/2002	Nomination/démission des organes de gestion
13/09/2002	Changement de Commissaire aux Comptes
13/09/2002	PV d'Assemblée
22/04/2002	PV du Conseil d'Administration
22/04/2002	Nomination/démission des organes de gestion
22/04/2002	PV d'Assemblée
22/04/2002	Acte sous seing privé
22/04/2002	Modification du Conseil d'Administration
25/01/2002	PV du Conseil d'Administration
25/01/2002	PV d'Assemblée
25/01/2002	Acte sous seing privé
25/01/2002	Modification du Conseil d'Administration
25/01/2002	Nomination/démission des organes de gestion
16/10/2001	Changement de Commissaire aux Comptes
16/10/2001	PV d'Assemblée
16/10/2001	Nomination/démission des organes de gestion
16/10/2001	Acte sous seing privé
11/09/2000	Statuts mis à jour
11/09/2000	Conversion du Capital Social en Euros
11/09/2000	PV d'Assemblée
11/09/2000	Acte sous seing privé
11/09/2000	Nomination/démission des organes de gestion
11/09/2000	Modification du Conseil d'Administration
16/12/1999	PV d'Assemblée
16/12/1999	Nomination/démission des organes de gestion
16/12/1999	PV du Conseil d'Administration
16/12/1999	Acte sous seing privé
16/12/1999	Modification du Conseil d'Administration
16/12/1999	Acte modificatif
16/12/1999	Changement de Président (PDG, PCA)
27/08/1999	PV d'Assemblée
27/08/1999	Nomination/démission des organes de gestion
27/08/1999	PV du Conseil d'Administration
27/08/1999	Acte sous seing privé
27/08/1999	Modification du Conseil d'Administration
02/02/1999	Augmentation de Capital
02/02/1999	Immatriculation suite à transfert
02/02/1999	Modification de l'objet social
02/02/1999	Modification du Conseil d'Administration
02/02/1999	PV d'Assemblée
02/02/1999	Statuts mis à jour
02/02/1999	Déclaration de conformité
02/02/1999	Fusion
02/02/1999	Nomination/démission des organes de gestion
02/02/1999	Changement de dénomination sociale
02/02/1999	Acte sous seing privé
17/12/1998	Acte sous seing privé
17/12/1998	Rapport des Commissaires ou du Gérant
27/11/1998	Apport Partiel
27/11/1998	Acte sous seing privé
27/11/1998	Projet de Fusion
08/10/1998	Modification du Conseil d'Administration
08/10/1998	Nomination/démission des organes de gestion
08/10/1998	PV du Conseil d'Administration
08/10/1998	Acte sous seing privé
05/10/1998	PV d'Assemblée
05/10/1998	Nomination/démission des organes de gestion
05/10/1998	Acte sous seing privé
05/10/1998	Modification du Conseil d'Administration
05/10/1998	Acte modificatif
05/10/1998	Changement de Commissaire aux Comptes
05/10/1998	Statuts mis à jour
05/10/1998	PV du Conseil d'Administration
22/09/1998	Requête et Ordonnance
22/09/1998	Acte modificatif
22/09/1998	Nomination/démission des organes de gestion
27/12/1996	PV du Conseil d'Administration
27/12/1996	Acte sous seing privé
27/12/1996	PV d'Assemblée
27/12/1996	Certificat de dépôt des fonds
27/12/1996	Statuts
27/12/1996	Nomination/démission des organes de gestion
27/12/1996	Formation de Société

directors

Shareholder(s)

Name	SCHMOLZ + BICKENBACH FRANCE
Name of representative	M MOLLER TORSTEN
Manager position	Administrator	Date of birth	30/06/1971
Place of birth	HILDEN(ALLEMAGNE)
Type	Moral person	Name at birth

Name	M. LAMARQUE D'ARROUZAT PATRICK
Manager position	Managing director, Administrator	Date of birth	12/05/1965
Place of birth	PAU (64)
Type	Individual	Name at birth

Name	M. WIECHA HANS-JÜRGEN ELMAR
Manager position	Administrator	Date of birth	04/04/1962
Place of birth	COLOGNE(ALLEMAGNE)
Type	Individual	Name at birth

Name	M. ILLER CLEMENS
Manager position	Chairman of the Board	Date of birth	09/08/1960
Place of birth	BREME(ALLEMAGNE)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Chairman of the Board	M MARCEL IMHOF	- - -
Chairman of the Board	M MARCEL IMHOF	1/4/1948 - LUCERNE SUISSE(SUISSE)
Chairman of the Board	M JOHANNES TOBIAS NONN	3/24/1965 - KIRCHEN(ALLEMAGNE)
Chairman of the Board	M HANS-JÜRGEN ELMAR WIECHA	4/4/1962 - COLOGNE(ALLEMAGNE)
Administrator	M MARCEL IMHOF	- - -
Administrator	Mme SUZANNE PEIRICKS	3/11/1968 - KOLN(ALLEMAGNE)
Administrator	SCHMOLZ + BICKENBACH AG	- - -
Administrator	SCHMOLZ + BICKENBACH FRANCE	- - -
Administrator	SHMOLTZ + BIZENBACH AG	- - -

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.102.40
Euro	1	Rs.81.88

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIS

RATING EXPLANATIONS

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

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

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

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

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