MIRA INFORM REPORT

Report Date :

02.05.2014

IDENTIFICATION DETAILS

Name :	DOGG LABEL

Registered Office :	Le Temps Des Cerises, 13 Rue Gustave Eiffel, 13010 Marseille 10

Country :	France

Financials (as on) :	31.12.2012

Date of Incorporation :	July 1997

Com. Reg. No.:	RCS Marseille 9 413 108 127

Legal Form :	Limited Liability Company

Line of Business :	Wholesale trader of Clothing and footwear

No of Employees :	46 (31.12.2012)

RATING & COMMENTS

MIRA’s Rating :

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

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

Name

DOGG LABEL

SIRET

413 108 127 00031

company summary

		EUR VAT Number	FR13413108127
Activity (APE)	Wholesale trader of Clothing and footwear	Legal form	Limited Liability Company
		RCS Registration	RCS Marseille 9 413 108 127
Business Name	LE TEMPS DES CERISES	Share capital	3,000,000 Euros
Address	DOGG LABEL 13 RUE GUSTAVE EIFFEL 13010 MARSEILLE 10	Incorporated Date	07/1997
Nationality	France	Status	Economically active

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name		Company number
DOGG LABEL		413108127

Current Directors 2

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	52,091,233 €	52,282,615 €	53,664,671 €
Gross Operating Surplus	14,87 % Turnover	13,77 % Turnover	16,08 % Turnover
Shareholders’ equity	33,454,599 €	28,725,185 €	25,427,580 €
Net result	4,729,414 €	3,297,606 €	4,509,719 €
Employees	46 (31.12.2012)	-	-

Trends

Profitability
Liquidity
Net worth

Company details

Activity (APE)	Wholesale trader of Clothing and footwear
RCS Registration		RCS Marseille 9 413 108 127	Share capital	3,000,000 Euros
Registration Court		Marseille (13)	Legal form	Limited Liability Company
Court Registry Number		19 9 7B01508	EUR VAT Number	FR13413108127
Incorporation Date		07/1997	Formation Date	07/1997
Deregistration Date			Last account Date	31/12/2012
Nationality		France

Ultimate Parent

1 ultimate parent company for this company
> DOGG LABEL - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in MARSEILLE 10 (13010)

Establishments details

Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)	Business Pages FT®
Postal Address	DOGG LABEL LE TEMPS DES CERISES 13 RUE GUSTAVE EIFFEL 13010 MARSEILLE 10	Trading Address	13 RUE GUSTAVE EIFFEL 13010 MARSEILLE 10

Type	Head office	Status	Economically active
Formation Date	03/2005	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Other	Activity Location	Other
Location surface		Seasonality

Department	Bouches-du-Rhône (13)	Region	Côte d'Azur
District	3	Area	99
City	MARSEILLE 10	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments details

Branches	1 branch entities in this company
Head office		> DOGG LABEL <<< - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in MARSEILLE 10 (13010)
Secondary establishments		> DOGG LABEL - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in MARSEILLE 1 (13001) > DOGG LABEL - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in ROMANS SUR ISERE (26100) > DOGG LABEL - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in BORDEAUX (33300) > DOGG LABEL - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in MARSEILLE 6 (13006)

	Regionality	Legal unit with all establishments in same area

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

Workforces

Workforce at address

50 to 99 employees

Company workforce

46 (31.12.2012)

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	31/08/2013	05/12/2012	03/10/2011
Activity Code	4642Z	4642Z	4642Z
Employees	46	0	49

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	10 061 399	0,2%	10 043 215	0,5%	9 991 191	43 992	22771,0%
- Intangible assets	737 229	9,3%	674 417	-3,0%	695 281	6 402,50	11414,7%
- Tangible assets	847 469	-5,0%	892 097	3,0%	865 815	5 652,50	14892,8%
- Financial assets	8 476 701	0%	8 476 701	0,6%	8 430 095	5 800,50	146037,4%
Net current assets	42 836 682	12,7%	38 006 056	2,3%	37 160 981	211 769	20128,0%
- Stocks	15 843 275	0%	0	0%	17 393 132	53 649,50	29431,1%
- Advanced payments	0	12,7%	0	0%	0	0	0%
- Receivables	24 872 730	150,3%	9 938 000	-44,3%	17 840 972	61 161,50	40567,3%
- Securities and cash	2 120 677	20,1%	1 765 498	-8,4%	1 926 878	32 833,50	6358,9%
- Prepaid expenses	-	-	-	-	-	88	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	52 898 082	10,1%	48 049 270	1,9%	47 152 173	296 189	17759,6%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	33 454 599	16,5%	28 725 185	13,0%	25 427 580	61 524,50	54276,1%
Share capital	3 000 000	0%	3 000 000	0%	3 000 000	8 204	36467,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	406 700	23,2%	330 000	120,0%	150 000	0	0%
Liabilities	19 036 783	0,2%	18 994 085	-12,0%	21 574 593	196 949,50	9565,8%
- Financial liabilities	3 925 240	-36,3%	6 159 315	63,7%	3 762 734	16 993,50	22998,5%
- Advanced payments received	6 000	0%	0	0%	0	0	0%
- Trade account payables	13 611 392	19,8%	11 357 024	-28,2%	15 807 595	67 547	20051,0%
- Tax and social liabilities	1 184 537	14,9%	1 031 208	-41,0%	1 746 805	43 752,50	2607,4%
- Other debts and fixed assets liabilities	309 614	-30,7%	446 538	73,4%	257 459	10 132,50	2955,7%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	52 898 083	10,1%	48 049 271	1,9%	47 152 173	296 188	17759,6%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	52 525 299	-0,1%	52 569 972	-2,3%	53 828 168	444 186,50	11725,1%
Net turnover	52 091 233	-0,4%	52 282 615	-2,6%	53 664 671	432 817	11935,4%
- of which net export turnover	7 856 337	-0,9%	7 930 669	5,1%	7 548 670	561,50	1399069,5%
Operating charges	45 971 225	-1,0%	46 428 716	0,1%	46 405 055	436 376,50	10434,8%
Operating profit/loss	6 554 074	6,7%	6 141 256	-17,3%	7 423 113	6 961	94054,2%
Financial income	62 783	-45,9%	116 155	59,7%	72 713	01	6278200%
Financial charges	492 425	-32,0%	724 492	143,3%	297 719	650,50	75599,5%
Financial profit/loss	-429 642	29,4%	-608 337	-170,4%	-225 006	-85,50	-502405,3%
Pretax net operating income	6 124 432	10,7%	5 532 919	-23,1%	7 198 107	5 872	104198,9%
Extraordinary income	39 811	-32,0%	58 553	-20,4%	73 548	0	0%
Extraordinary charges	64 134	-94,6%	1 184 277	185,9%	414 184	219,50	29118,2%
Extraordinary profit/loss	-24 323	97,8%	-1 125 724	-230,5%	-340 636	0	0%
Net result	4 729 414	43,4%	3 297 606	-26,9%	4 509 719	5 880	80332,2%

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	52 898 082	10,1%	48 049 270	1,9%	47 152 173
Gross	CO	58 884 967	11,3%	52 886 452	3,4%	51 162 306
Amortisation	1A	5 986 885	23,8%	4 837 182	20,6%	4 010 133

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	10 061 399	0,2%	10 043 215	0,5%	9 991 191
Gross	BJ	11 185 048	2,4%	10 921 420	2,6%	10 642 860
Amortisation	BK	1 123 649	27,9%	878 205	34,8%	651 669

Intangilble fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	87 229	257,2%	24 417	-46,1%	45 281
	Gross	AF	291 676	83,5%	158 934	33,0%	119 503
	Amortisation	AG	204 447	52,0%	134 517	81,2%	74 222
	Goodwill	Net	650 000	0%	650 000	0%	650 000
	Gross	AH	650 000	0%	650 000	0%	650 000
	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	737 229	9,3%	674 417	-3,0%	695 281

Tangible fixed assets

		31/12/2012		31/12/2011		31/12/2010
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	371 093	-13,3%	427 910	-3,6%	443 695
Gross	AP	749 578	2,3%	732 769	8,2%	677 487
Amortisation	AQ	378 485	24,2%	304 859	30,4%	233 792
Plant	Net	3 044	11,5%	2 729	-26,0%	3 687
Gross	AR	38 969	3,3%	37 715	6,8%	35 306
Amortisation	AS	35 925	2,7%	34 986	10,6%	31 619
Other tangible fixed assets	Net	473 332	2,6%	461 458	10,3%	418 433
Gross	AT	978 124	13,0%	865 301	18,5%	730 469
Amortisation	AU	504 792	25,0%	403 843	29,4%	312 036
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	847 469		892 097		865 815

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	8 362 971	0%	8 362 971	0,6%	8 316 365
Gross	CU	8 362 971	0%	8 362 971	0,6%	8 316 365
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
Gross	BF	0	0%	0	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	113 730	0%	113 730	0%	113 730
Gross	BH	113 730	0%	113 730	0%	113 730
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		8 476 701		8 476 701		8 430 095

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2010
Total Assets	Net	42 836 682	12,7%	38 006 056	2,3%	37 160 981
Gross	CJ	47 699 919	13,7%	41 965 033	3,6%	40 519 445
Amortisation	CK	4 863 237	22,8%	3 958 977	17,9%	3 358 464

Stocks

		31/12/2012		31/12/2011		31/12/2010
Raw materials	Net	0	0%	0	0%	337 644
Gross	BL	218 034	0%	218 034	-47,2%	413 107
Amortisation	BM	218 034	0%	218 034	188,9%	75 463
Work in progress (goods)	Net	0	0%	0	0%	0
Gross	BN	0	0%	0	0%	0
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	0	0%	0
Gross	BP	0	0%	0	0%	0
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	0	0%	0	0%	0
Gross	BR	0	0%	0	0%	0
Amortisation	BS	0	0%	0	0%	0
Goods for resale	Net	15 843 275	0%	0	0%	17 055 488
Gross	BT	18 287 348	0%	0	0%	18 679 730
Amortisation	BU	2 444 073	0%	0	0%	1 624 242
Sub Total Stocks	Net	15 843 275	0%	0	0%	17 393 132

Advance payments to suppliers

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

Debtors

		31/12/2012		31/12/2011		31/12/2010
Trade accounts receivable	Net	14 256 856	0%	0	0%	13 253 820
Gross	BX	16 457 986	0%	0	0%	14 912 578
Amortisation	BY	2 201 130	0%	0	0%	1 658 759
Other debtors	Net	10 173 332	41,6%	7 185 000	56,6%	4 587 152
Gross	BZ	10 173 332	41,6%	7 185 000	56,6%	4 587 152
Amortisation	CA	0	0%	0	0%	0
Capital subscribed and called up	Net	0	0%	2 753 000	0%	0
Gross	CB	0	0%	2 753 000	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total Debtors	Net	24 430 188	145,8%	9 938 000	-44,3%	17 840 972

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	2 120 677	20,1%	1 765 498	-8,4%	1 926 878
Gross	CF	2 120 677	20,1%	1 765 498	-8,4%	1 926 878
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	2 120 677	20,1%	1 765 498	-8,4%	1 926 878

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2010
Prepaid expenses	Net	442 542	0%	0	0%	0
Gross	CH	442 542	0%	0	0%	0
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

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

Grand Total - Passive Accounts (I to IV)

			31/12/2012		31/12/2011		31/12/2010
	Grand Total (I to V)	EE	52 898 083	10,1%	48 049 271	1,9%	47 152 173

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2010
Total shareholders' equity (Total I)	DL	33 454 599	16,5%	28 725 185	13,0%	25 427 580
Equity and shareholders' equity	DA	3 000 000	0%	3 000 000	0%	3 000 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	300 000	0%	300 000	0%	300 000
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	25 952	0%	25 952	0%	25 952
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	25 399 233	14,9%	22 101 627	25,6%	17 591 909
Profit or loss for the period	DI	4 729 414	43,4%	3 297 606	-26,9%	4 509 719
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

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	406 700	23,2%	330 000	120,0%	150 000
Risk provisions	DP	406 700	23,2%	330 000	120,0%	150 000
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2010
Total Liabilities (Total IV)	EC	19 036 783	0,2%	18 994 085	-12,0%	21 574 593
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	3 925 240	-36,3%	6 159 315	63,7%	3 762 734
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	6 000	0%	0	0%	0
Trade accounts payables	DX	13 611 392	19,8%	11 357 024	-28,2%	15 807 595
Tax and social security liabilities	DY	1 184 537	14,9%	1 031 208	-41,0%	1 746 805
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	309 614	-30,7%	446 538	73,4%	257 459

Translation loss (V)

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

Equalization accounts

			31/12/2012		31/12/2011		31/12/2010
	Deferred income	EB	0	0%	0	0%	0

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

1- Operating result (I-II)

			31/12/2012		31/12/2011		31/12/2010
	Operating result (Total I-II)	GG	6 554 074	6,7%	6 141 256	-17,3%	7 423 113

2 - Financial result (V - VI)

			31/12/2012		31/12/2011		31/12/2010
	Financial result (Total V-VI)	GV	-429 642	29,4%	-608 337	-170,4%	-225 006

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	6 124 432	10,7%	5 532 919	-23,1%	7 198 107

4 - Extraordinary result (VII-VIII)

			31/12/2012		31/12/2011		31/12/2010
	Extraordinary result (Total VII-VIII)	HI	-24 323	97,8%	-1 125 724	-230,5%	-340 636

Profit or loss

			31/12/2012		31/12/2011		31/12/2010
	Profit or loss	HN	4 729 414	43,4%	3 297 606	-26,9%	4 509 719

Total Income (I+III+V+VII)

			31/12/2012		31/12/2011		31/12/2010
	Total Income (I+III+V+VII)	HL	52 627 893	-0,2%	52 744 680	-2,3%	53 974 429

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	47 898 480	-3,1%	49 447 075	0,0%	49 464 708

Operating income (I)

			31/12/2012		31/12/2011		31/12/2010
	Total operating income (Total I)	FR	52 525 299	-0,1%	52 569 972	-2,3%	53 828 168

Operating income (details)

		31/12/2012		31/12/2011		31/12/2010
Sale of goods for resale	FC	50 309 141	-1,3%	50 974 906	-3,1%	52 583 058
France	FA	42 561 449	-1,2%	43 078 153	-4,4%	45 069 986
Export	FB	7 747 692	-1,9%	7 896 753	5,1%	7 513 072
Sale of goods produced	FF	0	0%	2 732	0%	0
France	FD	0	0%	0	0%	0
Export	FE	0	0%	2 732	0%	0
Sale of services	FI	1 782 092	36,6%	1 304 977	20,7%	1 081 613
France	FG	1 673 447	31,4%	1 273 793	21,8%	1 046 015
Export	FH	108 645	248,4%	31 184	-12,4%	35 598
Net turnover	FL	52 091 233	-0,4%	52 282 615	-2,6%	53 664 671
France	FJ	44 234 896	-0,3%	44 351 946	-3,8%	46 116 001
Export	FK	7 856 337	-0,9%	7 930 669	5,1%	7 548 670
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	12 195	-75,5%	49 701	0%	0
Release of reserves and provisions	FP	374 995	63,7%	229 088	61,0%	142 287
Other income	FQ	46 876	447,1%	8 568	-59,6%	21 210

Operating charges (II)

			31/12/2012		31/12/2011		31/12/2010
	Total operating charges (Total II)	GF	45 971 225	-1,0%	46 428 716	0,1%	46 405 055

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	28 890 328	14,9%	25 154 214	-31,5%	36 746 723
Change in stocks of goods for resale	FT	-1 599 787	-180,3%	1 992 169	123,2%	-8 597 730
Purchase of raw materials	FU	398 026	0,4%	396 609	8,6%	365 299
Change in stocks of raw materials	FV	0	0%	195 073	-33,2%	291 934
Other external purchases and charges	FW	11 249 318	-2,8%	11 576 462	10,3%	10 498 087
Tax, duty and similar payments	FX	1 144 095	-16,5%	1 370 292	-5,9%	1 455 458
Payroll	FY	2 987 780	-2,4%	3 062 241	1,5%	3 017 062
Social security costs	FZ	1 287 972	-6,9%	1 384 146	9,8%	1 260 925

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	245 463	8,4%	226 488	7,6%	210 437
Amortisation of fixed assets	GB	984 033	0%	0	0%	0
Depreciation/amortisation of current assets	GC	256 700	-64,6%	726 048	-21,3%	923 104
Provisions for risks and charges	GD	0	0%	180 000	20,0%	150 000

Other charges

			31/12/2012		31/12/2011		31/12/2010
	Other charges	GE	127 297	-22,8%	164 974	97,0%	83 756

Operating charges (III-IV)

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

Financial income (V)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	62 783	-45,9%	116 155	59,7%	72 713
Share financial income	GJ	0	0%	0	0%	41 150
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	1 363	0%	0	0%	59
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	61 420	-47,1%	116 155	1488,6%	7 312
Net income from disposal of investment securities	GO	0	0%	0	0%	24 192

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2010
Total financial charge (Total VI)	GU	492 425	-32,0%	724 492	143,3%	297 719
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	492 425	-32,0%	724 492	143,3%	297 719
Exchange losses	GS	0	0%	0	0%	0
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	39 811	-32,0%	58 553	-20,4%	73 548
Extraordinary operating income	HA	34 811	-40,5%	58 553	-7,9%	63 548
Extraordinary income from capital transactions	HB	5 000	0%	0	0%	10 000
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary charges (Total VIII)	HH	64 134	-94,6%	1 184 277	185,9%	414 184
Extraordinary operating charges	HE	64 134	-55,5%	144 277	26,4%	114 184
Extraordinary charges from capital transactions	HF	0	0%	1 040 000	246,7%	300 000
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

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

Tax on profits (X)

			31/12/2012		31/12/2011		31/12/2010
	Tax on profits (Total X)	HK	1 370 696	23,5%	1 109 590	-52,7%	2 347 750

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	0	0%	0	0%	8 167 603
Gross value at the end of period	OL	11 185 049	2,4%	10 921 420	2,6%	10 642 861

Research and development Charge (Total I)

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

Other budget item from Intangible fixed assets (Total II)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	KD	808 934	5,1%	769 503	9,2%	704 840
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	132 742	236,7%	39 430	-39,0%	64 663
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	941 676	16,4%	808 933	5,1%	769 503

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LN	1 635 786	13,3%	1 443 262	-2,9%	1 486 268
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	130 886	-32,0%	192 523	406,7%	37 994
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	0	0%	0	0%	81 000
Gross value at the end of period	NH	1 766 672	8,0%	1 635 785	13,3%	1 443 262

Fiancial assets (Total IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LQ	8 476 701	0,6%	8 430 096	3,5%	8 145 039
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	0%	46 606	-99,4%	8 371 660
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	0	0%	0	0%	8 086 603
Gross value at the end of period	NK	8 476 701	0,0%	8 476 702	0,6%	8 430 096

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	134 517	81,2%	74 223	310,2%	18 095
Increases		PF	69 930	16,0%	60 294	7,4%	56 128
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	204 447	52,0%	134 517	81,2%	74 223

Total fixed assets amotisation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	743 688	28,8%	577 450	14,5%	504 140
Increases		QV	175 534	5,6%	166 241	7,7%	154 310
Decreases		QW	19	0%	0	0%	81 000
	Decreasess by budget item transfer	QX	919 203	23,6%	743 691	28,8%	577 450

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

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

Premium refund of obligations

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

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

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7C	4 288 977	22,2%	3 508 464	40,8%	2 491 566
Increases		UB	1 240 733	36,9%	906 048	-15,6%	1 073 104
Decreases		UC	259 774	106,9%	125 534	123,3%	56 207
	Value at the end of period	UD	5 269 936	22,9%	4 288 978	22,2%	3 508 463

Includes Total allocations

Operating	UE	1 240 733	36,9%	906 048	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	1 073 104

Includes Total Withdrawal

Operating	UF	259 774	106,9%	125 534	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	56 207

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	5Z	330 000	120,0%	150 000	0%	0
Increases		TV	256 700	42,6%	180 000	20,0%	150 000
Decreases		TW	180 000	0%	0	0%	0
	Value at the end of period	TX	406 700	23,2%	330 000	120,0%	150 000

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7B	3 958 977	17,9%	3 358 463	34,8%	2 491 566
Increases		TY	984 033	35,5%	726 048	-21,3%	923 104
Decreases		TZ	79 774	-36,5%	125 534	123,3%	56 207
	Value at the end of period	UA	4 863 236	22,8%	3 958 977	17,9%	3 358 463

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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	27 187 590	16,1%	23 407 670	19,3%	19 613 460
1 year at most	VU	27 187 590	16,1%	23 407 670	19,3%	19 613 460
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	113 730	0%	113 730	0%	113 730
Other financial assets (1 year at most)	UV	113 730	0%	113 730	0%	113 730

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	2 500 649	21,8%	2 052 791	7,2%	1 914 640
Other claims customer	UX	13 957 337	62,6%	8 585 459	-33,9%	12 997 938
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	4 255	-48,9%	8 321	27,3%	6 535
Social Security and other social organizations	UZ	8 301	0%	8 301	0%	8 301
Income taxes	VM	0	0%	1 237 992	0%	0
Value added tax	VB	77 601	51,2%	51 312	-84,5%	331 930
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	19 116	-6,0%	20 341	0%	0
Group and Associates	VC	10 041 822	-11,0%	11 276 665	207,6%	3 665 802
Accounts receivable (including claims relating to the operation of pension titles)	VR	22 238	-57,8%	52 758	-90,8%	574 585

Prepaid

			31/12/2012		31/12/2011		31/12/2010
	Prepaid	VS	442 542	0%	0	0%	0

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	19 030 783	0,2%	18 994 085	-12,0%	21 574 593
1 year at most		VZ2	17 905 783	1,9%	17 569 085	-12,5%	20 074 593
More than 1 year and 5 years at most		VZ3	1 125 000	-21,1%	1 425 000	46,2%	975 000
More than 5 years		VZ4	0	0%	0	0%	525 000

Details

			31/12/2012		31/12/2011		31/12/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	2 500 240	-45,9%	4 625 772	117,0%	2 131 782
1 year at most		VG2	2 500 240	-45,9%	4 625 772	117,0%	2 131 782
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	1 425 000	-7,1%	1 533 543	-6,0%	1 630 952
1 year at most		VH2	300 000	176,4%	108 543	-17,1%	130 952
More than 1 year and 5 years at most		VH3	1 125 000	-21,1%	1 425 000	46,2%	975 000
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	13 611 392	19,8%	11 357 024	-28,2%	15 807 595
1 year at most		8B2	13 611 392	19,8%	11 357 024	-28,2%	15 807 595
More than 1 year and 5 years at most		8B3	13 611 392	19,8%	11 357 024	-28,2%	15 807 595
	Personnel and associated accounts (gross)	8C1	329 360	8,1%	304 557	-8,7%	333 414
1 year at most		8C2	329 360	8,1%	304 557	-8,7%	333 414
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	373 970	-14,1%	435 528	0,8%	431 930
1 year at most		8D2	373 970	-14,1%	435 528	0,8%	431 930
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	229 005	0%	0	0%	682 200
1 year at most		8E2	229 005	0%	0	0%	682 200
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	133 016	-19,0%	164 130	104,4%	80 291
1 year at most		VW2	133 016	-19,0%	164 130	104,4%	80 291
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	119 187	-6,1%	126 993	-42,0%	218 970
1 year at most		VQ2	119 187	-6,1%	126 993	-42,0%	218 970
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	2 367	-97,5%	96 367	-41,9%	165 928
1 year at most		VI2	2 367	-97,5%	96 367	-41,9%	165 928
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	307 247	-12,3%	350 172	282,6%	91 532
1 year at most		8K2	307 247	-12,3%	350 172	282,6%	91 532
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	0	0%	0	0%	1 516 943
Debt repaid during the period	VK	108 543	11,4%	97 409	-11,2%	109 703

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	46	0%	0	0%	49

Groups and Shareholders

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

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Fixed Asset Financing	3,48	5,5%	3,30	17,0%	2,82	1,91	82,2%
Global Debt	132 days	0,8%	131 days	-9,7%	145 days	145 days	-9,0%
Working Capital Fund overall net	192 days	11,0%	173 days	33,1%	130 days	47 days	308,5%
Financial independence	852,29%	82,7%	466,37%	-31,0%	675,77%	314,26%	171,2%

Solvability	63,24%	5,8%	59,78%	10,8%	53,93%	25,98%	143,4%
Capacity debt futures	1194,70%	96,9%	606,74%	-46,0%	1123,75%	966,80%	23,6%
Coverage of current assets by net working capital overall	58,67%	-78,6%	274,54%	475,0%	47,75%	32,09%	82,8%
General Liquidity	1,52	14,3%	1,33	35,7%	0,98	0,38	300%
Restricted Liquidity	1,64	14,7%	1,43	33,6%	1,07	0,71	131,0%

Management or rotation

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital	174 days	970,0%	-20 days	-117,1%	117 days	10 days	1640,0%
Treasury	15 days	25,0%	12 days	-7,7%	13 days	7 days	114,3%
Inventory turnover of goods	241 days	0%	0 days	0%	239 days	94 days	156,4%
Average length of credit granted to customers	114 days	0%	0 days	0%	100 days	31 days	267,7%
Average length of credit obtained suppliers	126 days	21,2%	104 days	-28,3%	145 days	61 days	106,6%

Inventory turnover of raw materials in industrial enterprises	10 days	11,1%	9 days	-52,6%	19 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	3196 days	-	days	1669 days	-
Rotation tangible assets	2948,55%	-7,7%	3196,18%	-14,0%	3718,29%	1951,54%	51,1%

Profitability of the business

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading	44,19%	-3,0%	45,58%	0,1%	45,53	32,67%	35,3%
Profitability of the business	14,87	8,0%	13,77	-14,4%	16,08	2,43%	511,9%
Net profit	9,08%	43,9%	6,31%	-24,9%	8,40%	1,34%	577,6%

Growth rate of turnover (excluding VAT)	-0,37%	85,7%	-2,58%	-110,1%	25,61%	-0,95%	61,1%
Rates integration	25,25%	1,8%	24,80%	-7,3%	26,76%	18,15%	39,1%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	32,51%	-5,2%	34,29%	15,1%	29,79%	70,68%	-54,0%
Weight interests	0,95	-31,7%	1,39%	152,7%	0,55%	0,19%	400%

Return on capital

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability	10,93%	28,7%	8,49%	-8,0%	9,23%	1,95%	460,5%
Rates of economic profitability	21%	0%	21%	-30,0%	30%	12%	75,0%
Financial profitability	33454599%	16,5%	28725185%	13,0%	25427580%	26784,50%	124802,8%
Return on investment	13,97%	21,2%	11,53%	-30,0%	16,47%	9,74%	43,4%

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	52 091 233	-0,4%	52 282 615	-2,6%	53 664 671	432 817 €	11935,4%

Sales of goods	50 309 141	-1,3%	50 974 906	-3,1%	52 583 058
- Purchase of goods	28 890 328	14,9%	25 154 214	-31,5%	36 746 723
+/- Stock of goods variation	-1 599 787	-180,3%	1 992 169	123,2%	-8 597 730
Trading margin	23 018 600 €	-3,4%	23 828 523 €	-2,5%	24 434 065 €	119 336 €	19188,9%
	44,19 % CA	-3,0%	45,58 % CA	0,1%	45,53 % CA	33,50 % CA	31,9%

Sale of goods produced	1 782 092	36,3%	1 307 709	20,9%	1 081 613
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	1 782 092 €	36,3%	1 307 709 €	20,9%	1 081 613 €	2 372 €	75030,4%
	3,42 % CA	36,8%	2,50 % CA	23,8%	2,02 % CA	1,14 % CA	200%

Trading margin	23 018 600	-3,4%	23 828 523	-2,5%	24 434 065	119 336	19188,9%
+ Period Production	1 782 092	36,3%	1 307 709	20,9%	1 081 613	2 372	75030,4%
- Purchase of raw materials	398 026	0,4%	396 609	8,6%	365 299
+/- Change in stocks of raw materiels	0	0%	195 073	-33,2%	291 934
- Other external purchases and charges	11 249 318	-2,8%	11 576 462	10,3%	10 498 087
Added value	13 153 348 €	1,4%	12 968 088 €	-9,7%	14 360 358 €	85 348 €	15311,4%
	25,25 % CA	1,8%	24,80 % CA	-7,3%	26,76 % CA	18,15 % CA	39,1%

Added value	13 153 348 €	1,4%	12 968 088 €	-9,7%	14 360 358 €	85 348 €	15311,4%
+ Operating grants	12 195	-75,5%	49 701	0%	0
- Tax, duty and similar payments	1 144 095	-16,5%	1 370 292	-5,9%	1 455 458
- Personal charges	4 275 752	-3,8%	4 446 387	3,9%	4 277 987
Gross operating surplus	7 745 696 €	7,6%	7 201 110 €	-16,5%	8 626 913 €	9 210,50 €	83996,4%
	14,87 % CA	8,0%	13,77 % CA	-14,4%	16,08 % CA	2,43 % CA	511,9%

Gross operating surplus	7 745 696 €	7,6%	7 201 110 €	-16,5%	8 626 913 €	9 210,50 €	83996,4%
+ Release of reserves and provisions	374 995	63,7%	229 088	61,0%	142 287
+ Other operating income	46 876	447,1%	8 568	-59,6%	21 210
- Depreciation/Amortisation	1 486 196	31,2%	1 132 536	-11,8%	1 283 541
- Other charges	127 297	-22,8%	164 974	97,0%	83 756
Operating result	6 554 074 €	6,7%	6 141 256 €	-17,3%	7 423 113 €	6 961 €	94054,2%
	12,58 % CA	7,1%	11,75 % CA	-15,0%	13,83 % CA	1,84 % CA	583,7%

Operating result	6 554 074 €	6,7%	6 141 256 €	-17,3%	7 423 113 €	6 961 €	94054,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	62 783	-45,9%	116 155	59,7%	72 713
- Financial charges	492 425	-32,0%	724 492	143,3%	297 719
Pre-tax result	6 124 432 €	10,7%	5 532 919 €	-23,1%	7 198 107 €	5 872 €	104198,9%
	11,76 % CA	11,2%	10,58 % CA	-21,1%	13,41 % CA	1,45 % CA	711,0%

Extraordinary income	39 811	-32,0%	58 553	-20,4%	73 548	0	0%
- Extraordinary charges	64 134	-94,6%	1 184 277	185,9%	414 184
Extraordinary result	-24 323 €	97,8%	-1 125 724 €	-230,5%	-340 636 €	0 €	0%
	-0,05 % CA	97,7%	-2,15 % CA	-241,3%	-1 % CA	0 % CA	0%

Pre-tax result	6 124 432 €	10,7%	5 532 919 €	-23,1%	7 198 107 €	5 872 €	104198,9%
Extraordinary result	-24 323 €	97,8%	-1 125 724 €	-230,5%	-340 636 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	1 370 696	23,5%	1 109 590	-52,7%	2 347 750
Net result	4 729 413 €	43,4%	3 297 605 €	-26,9%	4 509 721 €	5 879,50 €	80339,0%
	9,08 % CA	43,9%	6,31 % CA	-24,9%	8,40 % CA	1,34 % CA	577,6%

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 shareholder's equity is 33,454,599 €

The ratio total assets to total liabilities is 2,72

The decrease in the gearing percentage over the last two accounting periods is 43 %

The net current assets are 42,836,682 €

The net turnover is 52,091,233 €

The pre-tax profit is 6,100,110 €

The total assets are 52,898,082 €

Industry code with low risk rating

Department code with low risk rating

The company has 2 director(s)

The risk provisions are 406,700 €

The return on total assets employed is 11.53

High risk workforce size

The sales to current assets ratio is 1,22

The creditor days are 95.37

The stock to turnover ratio is 30.41

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	03/10/2007
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	DOGG LABEL
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	1
Number of countries	1

Group Structure

Company Name	SIREN	Parts	Last account published
DOGG LABEL	413108127	-	31/12/2012
INDIGO GALLERY	501505002	100%	31/12/2012

Linkages

Ultimate parent company	DOGG LABEL
Direct parent	-
Group – Number of companies	2
Linkages – Number of companies	1
Number of countries	1

Company Name		SIREN	Last account	Turnover
INDIGO GALLERY GERMANY GMBH		HRB 65066	31/12/2012	-

Consolidated Accounts

Active Account | Passive Account | Account Results | Consolidation

Synthesized Accounts

Annual Accounts	31/12/2012	31/12/2011	31/12/2008
Account period (month)	12	12	12
Account Type	Consolidated	Consolidated	Consolidated
Activity Code	4642Z	4642Z	4642Z

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2008
Capital not called	0	0%	0	0%	0
Total fixed assets	20 051 000	-6,5%	21 444 000	46,7%	14 622 000
- Intangible assets	12 230 000	-4,9%	12 854 000	52,7%	8 419 000
- Tangible assets	6 758 000	-10,8%	7 576 000	33,3%	5 682 000
- Financial assets	1 063 000	4,8%	1 014 000	96,5%	516 000
Net current assets	36 177 000	10,3%	32 793 000	30,0%	25 229 000
- Stocks	20 438 000	-	-	-	7 843 000
- Advanced payments	0	-	-	-	15 000
- Receivables	12 590 000	-	-	-	12 561 000
- Securities and cash	3 149 000	-	-	-	4 810 000
Accounts of regularization	0	0%	0	0%	0
Total Assets	56 228 000	3,7%	54 237 000	36,1%	39 852 000

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2008
Shareholders' equity	28 339 000	9,7%	25 828 000	49,6%	17 260 000
Share capital	3 000 000	0%	3 000 000	0%	3 000 000
Other capital resources	0	0%	0	0%	0
Risk Provisions	990 000	57,6%	628 000	361,8%	136 000
Liabilities	26 899 000	-3,2%	27 781 000	23,7%	22 451 000
- Financial liabilities	10 252 000	-25,3%	13 721 000	107,7%	6 607 000
- Advanced payments received	52 000	-22,4%	67 000	1240,0%	5 000
- Trade account payables	13 939 000	19,5%	11 667 000	-15,3%	13 775 000
- Tax and social liabilities	2 513 000	30,1%	1 932 000	15,3%	1 676 000
- Other debts and fixed assets liabilities	143 000	-63,7%	394 000	1,5%	388 000
Account regularization	0	0%	0	0%	0
Total liabilities	56 228 000	3,7%	54 237 000	36,1%	39 852 000

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2008
Sales of Goods	68 797 000	9,0%	63 102 000	35,5%	46 558 000
Net turnover	68 239 000	8,8%	62 700 000	38,5%	45 255 000
- of which net export turnover	9 420 000	10,5%	8 527 000	23,8%	6 890 000
Operating charges	63 291 000	6,8%	59 258 000	50,6%	39 341 000
Operating profit/loss	5 506 000	43,2%	3 844 000	-46,7%	7 218 000
Financial income	0	0%	19 000	-90,9%	208 000
Financial charges	785 000	-23,3%	1 023 000	37,5%	744 000
Financial profit/loss	-785 000	21,8%	-1 004 000	-87,3%	-536 000
Pretax net operating income	4 721 000	66,2%	2 840 000	-57,5%	6 682 000
Extraordinary income	0	0%	61 000	0%	0
Extraordinary charges	771 000	414,0%	150 000	-95,0%	3 028 000
Extraordinary profit/loss	-771 000	-766,3%	-89 000	97,1%	-3 028 000

Consolidation

Annual Accounts	31/12/2012		31/12/2011		31/12/2008
Net result before amortisation of goodwill	2 511 000	32,9%	1 890 000	-25,5%	2 538 000
Goodwill amortisation allocation	0	0%	0	0%	6 000
Net result of equity affiliates companies	0	0%	0	0%	0
Net result of integrated companies	0	0%	0	0%	0
Group result (consolidated net result)	2 511 000	32,9%	1 890 000	-25,4%	2 532 000
Share of minority interest (Result except group)	0	0%	0	0%	4 000
Net result - group share (part of parent company)	2 511 000	32,9%	1 889 000	-25,3%	2 528 000

Display parameter
Currency	Euro	Kilo Euro

	Normal Account		31/12/2012		31/12/2011		31/12/2008
	Months		12		12		12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2008
Grand Total (I to VI)	Net	56 228 000	3,7%	54 237 000	36,1%	39 852 000
Gross	CO	66 571 000	14,2%	58 270 000	36,8%	42 603 000
Amortisation	1A	10 343 000	156,5%	4 033 000	46,6%	2 751 000

Capital subscribed not called (I)

			31/12/2012		31/12/2011		31/12/2008
	Capital suscribed not called (I)	AA3	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2012		31/12/2011		31/12/2008
Total Active fixed asset (II)	Net	20 051 000	-6,5%	21 444 000	46,7%	14 622 000
Gross	BJ	25 300 000	-0,7%	25 477 000	64,2%	15 515 000
Amortisation	BK	5 249 000	30,2%	4 033 000	351,6%	893 000

Intangible fixed assets

		31/12/2012		31/12/2011		31/12/2008
Start-up cost	Net	0	0%	0	0%	0
Gross	AB	0	0%	0	0%	0
Amortisation	AC	0	0%	0	0%	0
R&D expenses	Net	0	0%	0	0%	0
Gross	CX	0	0%	0	0%	0
Amortisation	AE	0	0%	0	0%	0
Distributorships, patents	Net	97 000	0%	0	0%	0
Gross	AF	365 000	0%	0	0%	0
Amortisation	AG	268 000	0%	0	0%	0
Goodwill	Net	12 133 000	-5,6%	12 854 000	52,7%	8 419 000
Gross	AH	12 133 000	-6,9%	13 035 000	54,5%	8 437 000
Amortisation	AI	0	0%	181 000	905,6%	18 000
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

Tangible fixed assets

		31/12/2012		31/12/2011		31/12/2008
Acquisition difference	Net	0	0%	0	0%	4 000
Gross	A11	0	0%	0	0%	18 000
Amortisation	A12	0	0%	0	0%	18 000
Goodwill	Net	0	0%	0	0%	0
Gross	A21	0	0%	0	0%	0
Amortisation	A22	0	0%	0	0%	0
Difference from the first consolidation	Net	0	0%	0	0%	0
Gross	A31	0	0%	0	0%	0
Amortisation	A32	0	0%	0	0%	0
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	3 974 000	-9,0%	4 369 000	37,0%	3 189 000
Gross	AP	6 581 000	3,8%	6 343 000	78,7%	3 550 000
Amortisation	AQ	2 607 000	32,1%	1 974 000	446,8%	361 000
Plant	Net	38 000	-87,6%	307 000	1946,7%	15 000
Gross	AR	108 000	-70,4%	365 000	973,5%	34 000
Amortisation	AS	70 000	20,7%	58 000	205,3%	19 000
Other tangible fixed assets	Net	2 659 000	-8,3%	2 900 000	17,9%	2 459 000
Gross	AT	4 963 000	5,1%	4 720 000	60,5%	2 941 000
Amortisation	AU	2 304 000	26,6%	1 820 000	277,6%	482 000
Fixed assets in construction	Net	87 000	0%	0	0%	19 000
Gross	AV	87 000	0%	0	0%	19 000
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

Financial assets

		31/12/2012		31/12/2011		31/12/2008
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	1 000	0%	1 000	0%	0
Gross	CU	1 000	0%	1 000	0%	0
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
Gross	BF	0	0%	0	0%	0
Amortisation	BG	0	0%	0	0%	0
Other financial assets	Net	1 062 000	4,8%	1 013 000	96,3%	516 000
Gross	BH	1 062 000	4,8%	1 013 000	96,3%	516 000
Amortisation	BI	0	0%	0	0%	0
Other financial assets	Net	0	0%	0	0%	0
Gross	A41	0	0%	0	0%	0
Amortisation	A42	0	0%	0	0%	0

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2008
Total Assets	Net	36 177 000	10,3%	32 793 000	30,0%	25 229 000
Gross	CJ	41 272 000	25,9%	32 793 000	21,1%	27 088 000
Amortisation	CK	5 095 000	0%	0	0%	1 859 000

Stocks

		31/12/2012		31/12/2011		31/12/2008
Raw materials	Net	0	0%	20 543 000	0%	0
Gross	BL	0	0%	20 543 000	0%	0
Amortisation	BM	0	0%	0	0%	0
Work in progress (goods)	Net	0	-		-	0
Gross	BN	0	0%	0	0%	0
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	-		-	0
Gross	BP	0	-		-	0
Amortisation	BQ	0	-		-	0
Semi-finished and finished products	Net	0	-		-	0
Gross	BR	0	-		-	0
Amortisation	BS	0	-		-	0
Goods for resale	Net	20 438 000	-		-	7 843 000
Gross	BT	23 100 000	-		-	8 412 000
Amortisation	BU	2 662 000	-		-	569 000

Advance payments to suppliers

		31/12/2012		31/12/2011		31/12/2008
Advance payments to suppliers	Net	0	-		-	15 000
Gross	BV	0	-		-	15 000
Amortisation	BW	0	-		-	0

Debtors

		31/12/2012		31/12/2011		31/12/2008
Trade accounts receivable	Net	10 851 000	-		-	7 022 000
Gross	BX	13 284 000	-		-	8 312 000
Amortisation	BY	2 433 000	-		-	1 290 000
Other debtors	Net	1 276 000	-		-	4 907 000
Gross	BZ	1 276 000	-		-	4 907 000
Amortisation	CA	0	-		-	0
Capital subscribed and called up	Net	0	-		-	0
Gross	CB	0	-		-	0
Amortisation	CC	0	-		-	0

Divers

		31/12/2012		31/12/2011		31/12/2008
Investment securities	Net	0	-		-	216 000
Gross	CD	0	-		-	216 000
Amortisation	CE	0	-		-	0
Cash and cash equivalents	Net	3 149 000	40,6%	2 239 000	-51,3%	4 594 000
Gross	CF	3 149 000	40,6%	2 239 000	-51,3%	4 594 000
Amortisation	CG	0	0%	0	0%	0

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2008
Prepaid expenses	Net	463 000	534,2%	73 000	-88,4%	632 000
Gross	CH	463 000	534,2%	73 000	-88,4%	632 000
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2008
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

			31/12/2012		31/12/2011		31/12/2008
	Grand Total (I to IV)	EE	56 228 000	3,7%	54 237 000	36,1%	39 852 000

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2008
Total shareholders' equity (Total I)	DL	28 339 000	9,7%	25 828 000	49,6%	17 260 000
Equity and shareholders' equity	DA	3 000 000	0%	3 000 000	0%	3 000 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	0	0%	0	0%	0
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Other reserves	DG	22 828 000	9,0%	20 940 000	78,5%	11 732 000
Profits or losses brought forward	DH	0	0%	0	0%	0
Conversion differences	P1	0	0%	0	0%	0
Net result - group part	P2	2 511 000	33,0%	1 888 000	-25,3%	2 528 000
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2012		31/12/2011		31/12/2008
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0
Others	P3	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2012		31/12/2011		31/12/2008
Total provisions for risks and charges (Total III)	DR	990 000	57,6%	628 000	361,8%	136 000
Conversion differences	P4	0	0%	0	0%	0
In reserves	P5	0	0%	0	0%	1 000
In results	P6	0	0%	0	0%	4 000
Total III	P7	0	0%	0	0%	5 000
Delayed tax	P8	0	0%	0	0%	0
Acquisition differences	P9	0	0%	0	0%	0
Risk provisions	DP	990 000	57,6%	628 000	3040,0%	20 000
Reserves for charges	DQ	0	0%	0	0%	116 000

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2008
Total Liabilities (Total IV)	EC	26 899 000	-3,2%	27 781 000	23,7%	22 451 000
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	10 252 000	-24,6%	13 605 000	107,0%	6 574 000
Sundry loans and financial liabilities	DV	0	0%	116 000	251,5%	33 000
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	52 000	-22,4%	67 000	1240,0%	5 000
Trade accounts payables	DX	13 939 000	19,5%	11 667 000	-15,3%	13 775 000
Tax and social security liabilities	DY	2 513 000	30,1%	1 932 000	15,3%	1 676 000
Fixed asset liabilities	DZ	3 000	-97,2%	106 000	-67,2%	323 000
Other debts	EA	140 000	-51,4%	288 000	343,1%	65 000

Translation loss (V)

			31/12/2012		31/12/2011		31/12/2008
	Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

			31/12/2012		31/12/2011		31/12/2008
	Deferred income	EB	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2008
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

			31/12/2012		31/12/2011		31/12/2008
	Operating result (Total I-II)	GG	5 506 000	43,2%	3 844 000	-46,7%	7 218 000

2 - Financial result (V - VI)

			31/12/2012		31/12/2011		31/12/2008
	Financial result (Total V-VI)	GV	-785 000	21,8%	-1 004 000	-87,3%	-536 000

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

			31/12/2012		31/12/2011		31/12/2008
	Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	4 721 000	66,2%	2 840 000	-57,5%	6 682 000

4 - Extraordinary result (VII-VIII)

			31/12/2012		31/12/2011		31/12/2008
	Extraordinary result (Total VII-VIII)	HI	-771 000	-766,3%	-89 000	97,1%	-3 028 000

Consolidation

		31/12/2012		31/12/2011		31/12/2008
Delayed tax	R1	0	0%	0	0%	-515 000
Net result before amortisation of acquisition differences	R2	2 511 000	32,9%	1 890 000	-25,5%	2 538 000
Endowment to amortisation of acquisition differences	R3	0	0%	0	0%	6 000
Net result of companies set in equivalence	R4	0	0%	0	0%	0
Net result of integrated companies	R5	0	0%	0	0%	0
Group result (consolidated net result)	R6	2 511 000	32,9%	1 890 000	-25,4%	2 532 000
Cross-reference : equipment leasing	R7	0	0%	0	0%	4 000
Cross-reference : property leasing	R8	2 511 000	32,9%	1 889 000	-25,3%	2 528 000

Operating income (I)

			31/12/2012		31/12/2011		31/12/2008
	Total operating income (Total I)	FR	68 797 000	9,0%	63 102 000	35,5%	46 558 000

Operating income (details)

		31/12/2012		31/12/2011		31/12/2008
Sale of goods for resale	FC	66 519 000	8,2%	61 467 000	0%	0
France	FA	57 099 000	7,9%	52 940 000	0%	0
Export	FB	9 420 000	10,5%	8 527 000	0%	0
Sale of goods produced	FF	0	0%	0	0%	0
France	FD	0	0%	0	0%	0
Export	FE	0	0%	0	0%	0
Sale of services	FI	1 720 000	39,5%	1 233 000	-97,3%	45 255 000
France	FG	1 720 000	39,5%	1 233 000	-96,8%	38 365 000
Export	FH	0	0%	0	0%	6 890 000
Net turnover	FL	68 239 000	8,8%	62 700 000	38,5%	45 255 000
France	FJ	58 819 000	8,6%	54 173 000	41,2%	38 365 000
Export	FK	9 420 000	10,5%	8 527 000	23,8%	6 890 000
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	457 000	265,6%	125 000	-88,3%	1 065 000
Other income	FQ	101 000	-63,5%	277 000	16,4%	238 000

Operating charges (II)

			31/12/2012		31/12/2011		31/12/2008
	Total operating charges (Total II)	GF	63 291 000	6,8%	59 258 000	50,6%	39 341 000

Exploitation charges

		31/12/2012		31/12/2011		31/12/2008
Purchase of goods for resale	FS	28 910 000	9,3%	26 458 000	16,0%	22 801 000
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	18 616 000	2,7%	18 128 000	113,6%	8 488 000
Tax, duty and similar payments	FX	1 586 000	-2,5%	1 626 000	164,0%	616 000
Payroll	FY	10 785 000	39,1%	7 755 000	80,2%	4 303 000
Social security costs	FZ	0	0%	2 678 000	75,5%	1 526 000

Depreciation

		31/12/2012		31/12/2011		31/12/2008
Depreciation of fixed assets	GA	3 231 000	33,1%	2 427 000	56,4%	1 552 000
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

			31/12/2012		31/12/2011		31/12/2008
	Other charges	GE	163 000	-12,4%	186 000	244,4%	54 000

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2008
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

		31/12/2012		31/12/2011		31/12/2008
Total financial income (Total V)	GP	0	0%	19 000	-90,9%	208 000
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	0	0%	0	0%	0
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	0	0%	19 000	-69,8%	63 000
Net income from disposal of investment securities	GO	0	0%	0	0%	145 000

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2008
Total financial charge (Total VI)	GU	785 000	-23,3%	1 023 000	37,5%	744 000
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	785 000	-23,3%	1 023 000	37,5%	744 000
Exchange losses	GS	0	0%	0	0%	0
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2012		31/12/2011		31/12/2008
Total extraordinary income (Total VII)	HD	0	0%	61 000	0%	0
Extraordinary operating income	HA	0	0%	0	0%	0
Extraordinary income from capital transactions	HB	0	0%	61 000	0%	0
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2012		31/12/2011		31/12/2008
Total extraordinary charges (Total VIII)	HH	771 000	414,0%	150 000	-95,0%	3 028 000
Extraordinary operating charges	HE	771 000	0%	0	0%	3 028 000
Extraordinary charges from capital transactions	HF	0	0%	150 000	0%	0
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

			31/12/2012		31/12/2011		31/12/2008
	Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

			31/12/2012		31/12/2011		31/12/2008
	Tax on profits (Total X)	HK	1 439 000	67,1%	861 000	-47,2%	1 631 000

References

		31/12/2012		31/12/2011		31/12/2008
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0

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

Structure and Liquidity

	31/12/2012		31/12/2011		31/12/2008
Fixed Asset Financing	1,77	1,7%	1,74	8,8%	1,60
Global Debt	141,91 days	-11,0%	159,51 days	-10,7%	178,60 days
Working Capital Fund overall net	103,03 days	-4,2%	107,56 days	44,1%	74,63 days
Financial independence	276,42%	45,6%	189,84%	-27,7%	262,55%
More ratios
Solvability	50,40%	5,8%	47,62%	10,0%	43,31%

Management or rotation

	31/12/2012		31/12/2011		31/12/2008
Need background in operating working capital	83,98 days	-	days	-	31,37 days
Treasury	16,61 days	-	days	-	38,26 days
Inventory turnover of goods	287,65 days	-	days	-	132,82 days
More ratios
Inventory turnover of raw materials in industrial enterprises	0 days	0%	867,30 days	0%	0 days
Inventory turnover of intermediate and finished products in the industrial enterprise	0 days	0%	0 days	0%	0 days

Profitability of the business

	31/12/2012		31/12/2011		31/12/2008
Margin trading	66518957,63%	8,2%	61466957,80%	122006764,9%	-50,38
Profitability of the business	12,22	26,5%	9,66	-41,9%	16,62
More ratios
Rates integration	30,35%	5,1%	28,89%	-6,4%	30,86%
Rate leasing furniture	0%	0%	0%	0%	0%
Weight interests	1,15	-29,4%	1,63%	-0,6%	1,64%

Return on capital

	31/12/2012		31/12/2011		31/12/2008
Rates of economic profitability	21,62%	41,2%	15,31%	-51,4%	31,51%

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
05/09/2013	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1425 - 413108127 RCS. DOGG LABEL. Forme : Société à responsabilité limitée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
05/09/2013	Bodacc C	Comptes consolidés et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1424 - 413108127 RCS. DOGG LABEL. Forme : Société à responsabilité limitée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
02/05/2013	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 273 - 413 108 127 RCS Marseille. DOGG LABEL. Forme : Société à responsabilité limitée. Administration : Gérant : RICHARDIERE Lylian modification le 23 Avril 2013 Commissaire aux comptes titulaire : D ORTOLI Paul modification le 20 Septembre 2007 Gérant : RICHARDIERE Gilbert modification le 23 Avril 2013 Commissaire aux comptes suppléant : CAULET Sylvie en fonction le 20 Septembre 2007 Commissaire aux comptes titulaire : AUDIT EXPERTISE COMPTABLE ET CONSEIL GILBERT CAULET en fonction le 20 Septembre 2007 Commissaire aux comptes suppléant : COMMISSAIRES EXPERTS SA en fonction le 20 Septembre 2007. Activité : . Commentaires : Modification de la forme juridique. Modification de représentant.
05/11/2012	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1640 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
05/11/2012	Bodacc C	Comptes annuels, consolidés et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1641 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
17/10/2011	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1285 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
07/09/2010	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1861 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
10/11/2009	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 162 - 413 108 127 RCS Marseille. DOGG LABEL. Forme : Société par actions simplifiée. Activité : conception, fabrication, l'achat la vente la distribution et l'import-export de tous types de vêtements chaussures et accessoires. Commentaires : Modification de l'activité. Date de commencement de l’activité : 01/07/1997.
10/09/2009	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 718 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
24/10/2008	Bodacc A	Vente et cession : Vendeur

26 - DROME GREFFE DU TRIBUNAL DE COMMERCE DE ROMANS 185 - 501 505 002 RCS Romans. INDIGO GALLERY. Forme : Société par Actions Simplifiée. Adresse : 13 rue Gustave Eiffel, 13010 Marseille. Origine du fonds : Etablissement secondaire acquis par apport au montant évalué à 899988 EUR. Etablissement : Etablissement secondaire.Activité : Vente de prêt à porter, accessoires et tous articles de mode et d'habillement. Adresse : 60 avenue Gambetta, - Centre Commercial Marques Avenues Phase II, 26100 Romans-sur-Isère. Précédent propriétaire : DOGG LABEL. 413 108 127 RCS Marseille. Date de commencement de l’activité : 01/07/2008. Publication légale : L'ECHO ET LE VALENTINOIS du 27/09/2008. Déclarations des créances :Greffe du Tribunal de Commerce de Romans. Commentaires : Achat d'un établissement secondaire ou complémentaire par une personne morale.
21/10/2008	Bodacc A	Vente et cession : Vendeur

33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 279 - 501 505 002 RCS Bordeaux. INDIGO GALLERY. Forme : Société par actions simplifiée unipersonnelle. Capital : 37000 EUR. Adresse : 13 rue Gustave Eiffel, 13010 Marseille. Origine du fonds : Apport d'un fonds de commerce. Etablissement : Etablissement principal. Activité : prêt à porter, accessoires et tous articles de mode et d'habillement. Adresse : quai des Marques, Hangar 16, Local 8, Bacalan 33300 Bordeaux. Précédent propriétaire : DOGG LABEL. 413 108 127 RCS Marseille. Publication légale : Les échos judiciaires girondins du 26/09/2008. Déclarations des créances : Déclaration de créances au Greffe de Tribunal de Commerce de Bordeaux. Descriptif : Autre achat, apport, attribution : Ventes et Cessions personne morale avec fonds acquis par apport au montant évalué de 802900 Euros. Commentaires : Autre achat, apport, attribution.
12/09/2008	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 938 - 413108127 RCS. DOGG LABEL. Forme : Société par actions simplifiée. Adresse : 13 rue Gustave Eiffel 13010 Marseille. Commentaires :Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
17/01/2008	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 138 - 413 108 127 RCS Marseille. DOGG LABEL. Forme : Société par actions simplifiée. Enseigne : LE TEMPS DES CERISES. Capital : 3000000 EUR. Commentaires : Modification du capital.
02/12/2007	Bodacc C	Avis de dépôt des comptes

1146 - 413 108 127. RCS Marseille DOGG LABEL. Forme: Société par actions simplifiée. Adresse du siège social: 13 rue Gustave Eiffel 13010 Marseille. Comptes consolidés et rapport de l'exercice clos le: 31 décembre 2006.
26/10/2007	Bodacc C	Avis de dépôt des comptes

1601 - 413 108 127. RCS Marseille DOGG LABEL. Forme: Société par actions simplifiée. Adresse du siège social: 13 rue Gustave Eiffel 13010 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
19/10/2007	Bodacc B	Modifications et mutations diverses

335 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes suppléant partant : CAULET (Gilbert). Nomination d'un co-commissaire aux comptes suppléant : CAULET (Sylvie). Nomination d'un co-commissaire aux comptes titulaire : AUDIT EXPERTISE COMPTABLE ET CONSEIL GILBERT CAULET. Nomination d'un commissaire aux comptes suppléant : COMMISSAIRES EXPERTS S.A.
05/08/2007	Bodacc B	Modifications et mutations diverses

210 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique, le nom commercial et l'administration. Administration : modification d'un directeur général : RICHARDIERE (Lylian, Gill). Nomination du président : RICHARDIERE (Gilbert). Etablissement principal - Nom commercial : Le Temps des Cerises. Adresse : 13 rue Gustave-Eiffel, 13010
08/07/2007	Bodacc B	Modifications et mutations diverses

164 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme : S.A.R.L. Capital : 37 000 euros. Commentaires : modification survenue sur le capital (augmentation).
27/08/2006	Bodacc C	Avis de dépôt des comptes

1407 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme: S.A.R.L.. Adresse du siège social: 13, rue Gustave Eiffel,13010 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
20/08/2005	Bodacc C	Avis de dépôt des comptes

380 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme: S.A.R.L.. Adresse du siège social: 13, rue Gustave Eiffel,13010 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
20/05/2005	Bodacc B	Modifications et mutations diverses

235 - RCS Marseille B 413 108 127. RC 97-B 1508. DOGG LABEL. Forme : S.A.R.L. Adresse du siège social : 13 rue Gustave-Eiffel,, 13010 Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal. Etablissement principal - Adresse : 13 rue Gustave-Eiffel, 13010
19/08/2004	Bodacc B	Modifications et mutations diverses

RCS Marseille B 413108127 RC 97-B 1508 DOGG LABEL. Forme : S.A.R.L. Commentaires : modification survenue sur l' administration. Administration : nomination d'un commissaire aux comptes suppléant : CAULET (Gilbert). Nomination d'un commissaire aux comptes titulaire : D'ORTOLI (Paul).
09/02/2003	Bodacc B	Modifications et mutations diverses

RCS Marseille B 413108127 RC 97-B 1508 DOGG LABEL. Forme : S.A.R.L. Adresse du siège social : 55 cours Julien, 13006 Marseille. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : 55 cours Julien, 13006 Marseille.
09/08/1997	Bodacc A	Création d'établissement

RCS Marseille B 413 108 127 RC 97-B 1508 DOGG LABEL. Forme : S.A.R.L. Capital : 100 000 F. Activité : achat, vente, distribution, import-export de tous types de vetements, de chaussures et d' accessoires. Adresse du siège social : 139 boulevard Longchamp 13001 Marseille. Administration : gérant : RICHARDIERE ( Lylian, Gill) Cette société se constitue Date de début d'activité: 1er juillet 1997.

Company events history

Date	Description
03/01/2014	New subsidiarie(s) detected
03/01/2014	New parent detected
05/11/2013	Update Rating
05/11/2013	Update Limit
20/10/2013	Update Rating
20/10/2013	Update Limit
16/10/2013	Update Rating
16/10/2013	Update Limit
05/09/2013	Bodacc C : Deposit accounts notice
03/09/2013	Update Limit
03/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/07/2013	Update Limit
18/07/2013	Update Rating
02/05/2013	Bodacc B: Various editing or changing
23/04/2013	Amendment
23/04/2013	Updated articles of association
23/04/2013	Minutes of general meeting of shareholders
23/04/2013	New legal form – new category
23/04/2013	Appointment/resignation of company officers
01/04/2013	Update of Company Legal Form
01/04/2013	Update of Company Workforce
01/04/2013	Modification to Company Identifier
31/12/2012	New accounts available
31/12/2012	Update of Company Activity
31/12/2012	Modification of Company Activity
31/12/2012	New consolidated accounts available
07/12/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
05/11/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
31/12/2011	New consolidated accounts available
17/10/2011	Bodacc C : Deposit accounts notice
05/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
07/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
10/11/2009	Bodacc B: Various editing or changing
10/09/2009	Bodacc C : Deposit accounts notice
06/08/2009	Updated articles of association
06/08/2009	Modification of Company Activity
06/08/2009	Update of Company Activity
06/08/2009	Statuts mis à jour
06/08/2009	Minutes of general meeting of shareholders
06/08/2009	PV d'Assemblée
06/08/2009	Private document
06/08/2009	Modification de l'objet social
06/08/2009	Change to corporate purpose
31/12/2008	New accounts available
31/12/2008	New consolidated accounts available
24/11/2008	Amendment
24/11/2008	Private document
24/10/2008	Bodacc A : Sale and transfer
24/10/2008	New Bodacc A ads detected
21/10/2008	New Bodacc A ads detected
21/10/2008	Bodacc A : Sale and transfer
12/09/2008	Bodacc C : Deposit accounts notice
17/01/2008	Bodacc B: Various editing or changing
17/01/2008	New Bodacc B ads detected
31/12/2007	New accounts available
24/12/2007	Other modification of Establishment
24/12/2007	Augmentation de Capital
24/12/2007	Updated articles of association
24/12/2007	Capital increase
24/12/2007	Minutes of general meeting of shareholders
24/12/2007	PV d'Assemblée
24/12/2007	Private document
17/12/2007	Other modification of Establishment
03/10/2007	Collection of preferential rights activated for this company
20/09/2007	New auditor
20/09/2007	Updated articles of association
20/09/2007	Minutes of general meeting of shareholders
20/09/2007	PV d'Assemblée
20/09/2007	Appointment/resignation of company officers
20/09/2007	Private document
20/09/2007	Changement de Commissaire aux Comptes
13/07/2007	Changement de Forme Juridique avec changement de catégorie
13/07/2007	New legal form – no new category
13/07/2007	Updated articles of association
13/07/2007	Minutes of general meeting of shareholders
13/07/2007	PV d'Assemblée
13/07/2007	Appointment/resignation of company officers
13/07/2007	Private document
02/07/2007	Update of Company Legal Form
02/07/2007	Other modification of Establishment (error correction)
18/06/2007	Private document
18/06/2007	Rapport des Commissaires ou du Gérant
18/06/2007	Audit or Management Report
15/06/2007	Minutes of general meeting of shareholders
15/06/2007	Private document
15/06/2007	Updated articles of association
15/06/2007	Capital increase
15/06/2007	PV d'Assemblée
15/06/2007	Augmentation de Capital
31/12/2006	New accounts available
31/12/2006	New consolidated accounts available
31/12/2005	New accounts available
18/04/2005	Registered office transferred inside jurisdiction of the Commercial Court
18/04/2005	Private document
18/04/2005	Acte sous seing privé
18/04/2005	Updated articles of association
18/04/2005	Statuts mis à jour
18/04/2005	Transfert du Siège dans le ressort du Tribunal de Commerce
18/04/2005	PV d'Assemblée
18/04/2005	Minutes of general meeting of shareholders
31/12/2004	New accounts available
30/07/2004	Appointment/resignation of company officers
30/07/2004	Private document
30/07/2004	Nomination/démission des organes de gestion
30/07/2004	Acte sous seing privé
30/07/2004	Changement de Commissaire aux Comptes
30/07/2004	New auditor
30/07/2004	PV d'Assemblée
30/07/2004	Minutes of general meeting of shareholders
31/12/2003	New accounts available
24/10/2003	Statuts mis à jour
24/10/2003	PV d'Assemblée
24/10/2003	Acte sous seing privé
24/10/2003	Cession de parts
23/01/2003	PV d'Assemblée
23/01/2003	Transfert du Siège dans le ressort du Tribunal de Commerce
23/01/2003	Statuts mis à jour
23/01/2003	Acte sous seing privé
22/01/2003	PV d'Assemblée
22/01/2003	Transfert du Siège dans le ressort du Tribunal de Commerce
22/07/1997	Statuts
22/07/1997	Acte sous seing privé
22/07/1997	Formation de Société
22/07/1997	Nomination/démission des organes de gestion

Establishment events history

Date	Description
22/02/2014	Update of phone numbers
05/11/2013	Update Rating
14/08/2013	Update of phone numbers
26/04/2013	Update Rating
01/04/2013	Update of Establishment Workforce
01/04/2013	Modification of Head office
31/12/2012	Modification of Head office Activity
31/12/2012	Update of Establishment Activity
07/12/2012	Update Rating
07/12/2012	Update Limit
04/10/2012	Update Limit
04/10/2012	Update Rating
09/05/2012	Update Rating
25/02/2012	Update Rating
05/10/2011	Update Rating
05/10/2011	Update Limit
04/10/2011	Update Limit
04/10/2011	Update Rating
26/09/2010	Update Rating
13/08/2010	Update Limit
13/08/2010	Update Rating
03/09/2009	Update Rating
03/09/2009	Update Limit
09/08/2009	Update Rating
06/08/2009	Update of Establishment Activity
06/08/2009	Modification of Head office Activity
23/09/2008	Update Rating
01/09/2008	Update Limit
15/01/2008	Update of phone numbers
24/12/2007	Modification of Head office
16/12/2007	Update Limit
10/12/2007	Update Limit
09/12/2007	Update Limit
16/10/2007	Update of phone numbers
21/08/2007	Update of phone numbers
07/08/2007	Update Rating
01/08/2007	Update Rating
02/07/2007	Modification of Head office

directors

Name	M. RICHARDIERE LYLIAN
Manager position	Manager	Date of birth	30/10/1970
Place of birth	ARLES
Type	Individual	Name at birth

Name	M. RICHARDIERE GILBERT
Manager position	Manager	Date of birth	02/10/1948
Place of birth	CAVAILLON
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M GILBERT RICHARDIERE	- - -
President	M GILBERT RICHARDIERE	02/10/1948 - CAVAILLON
Managing director	M LYLIAN RICHARDIERE	30/10/1970 - ARLES

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.34
UK Pound	1	Rs.101.45
Euro	1	Rs.83.31

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%)

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

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

MIRA INFORM REPORT

company summary

Ultimate Holding Company

Trends

Company details

Establishments details

Other establishments details

Workforces

accounts

Commentary

judgements

Group data

Group Structure

Linkages

Consolidated Accounts

event history

Company events history

Establishment events history

directors

Previous Directors

Unit