MIRA INFORM REPORT

Report Date :

03.05.2014

IDENTIFICATION DETAILS

Name :	INGERSOLL-RAND AIR SOLUTIONS HIBON
Registered Office :	2 Rue Jean Paul Sartre, 59290 Wasquehal
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	June, 2006
Legal Form :	Sole proprietorship Ltd
Line of Business :	Manufacture of other pumps and compressors
No. of Employees :	50 to 99 employees

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
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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

REGISTERED NAME & COMPANY SUMMARY

INGERSOLL-RAND AIR SOLUTIONS HIBON

SIRET

490 868 106 00041

Company summary

		EUR VAT Number	FR91490868106
Activity (APE)	Manufacture of other pumps and compressors (2813Z))	Legal form	Sole proprietorship Ltd
Phone	03 20 80 64 03	RCS Registration	RCS 0 490 868 106
Fax		Share capital	3,379,000 Euros
Address	INGERSOLL-RAND AIR SOLUTIONS HIBON 2 RUE JEAN PAUL SARTRE 59290 WASQUEHAL	Incorporated Date	07/2006
Nationality	France	Status	Economically active

Company details

Activity (APE)	Manufacture of other pumps and compressors (2813Z)
RCS Registration	RCS 0 490 868 106	Share capital	3,379,000 Euros
Registration Court	(59)	Legal form	Sole proprietorship Ltd
Court Registry Number	20 0 6B21425	EUR VAT Number	FR91490868106
Incorporation Date	07/2006	Formation Date	06/2006
Deregistration Date		Last account Date	31/12/2012
Nationality	France

DIRECTORS/MANAGEMENT

Directors

Name	M. PARRA PALMERO SALVADOR
Manager position	Manager	Date of birth	26/04/1958
Place of birth	AUBENAS (07200)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	M SALVADOR PARRA PALMERO	26/04/1958 - 07 AUBENAS
Co-managing partner	M SALVADOR PARRA PALMERO	- - -

NEGATIVE INFORMATION

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	23/03/2009
Status of Monitoring	No social security and tax office preferential right to date

SHARE & SHARE CAPITAL INFORMATION

N/a

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	19
	Total number of Invoices paid within or up to 30 days after the due date	13
	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

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	INGERSOLL RAND	US43934953

Group data

Ultimate parent company	INGERSOLL RAND
Direct parent	INGERSOLL RAND - 100 %
Group – Number of companies	11
Linkages – Number of companies	42
Number of countries	19

Company Name	SIREN	Parts	Last account published
INGERSOLL RAND	US43934953	-	-
COMPAGNIE INGERSOLL-RAND SAS	552006546	100%	31/12/2012
CISA S.P.A	RA166664	100%	31/12/2012
SOCIETE TRANE	306050188	100%	31/12/2012
TRANE SERVICE COMPANY	-	100%	-
ABS - RICA	418363883	100%	31/12/2012
BRICARD	399802024	100%	31/12/2012
INGERSOLL-RAND AIR SOLUTIONS HIBON	490868106	100%	31/12/2012
INGERSOLL RAND EQUIPEMENTS DE PRODUC...	351490560	100%	31/12/2012
IR SERVICES	421254046	100%	31/12/2012
NORMBAU FRANCE	728502105	100%	31/12/2010

Company Name	SIREN	Last account	Turnover
INGERSOLL-RAND (INDIA)	1663945	31/03/2013	88 696 151 €
INGERSOLL-RAND EUROPEAN SALES LIMITED	03275303	31/12/2012	366 000 £
INGERSOLL - RAND ITALIA S.R.L.	MI1612742	31/12/2012	9 810 501 €
INGERSOLL-RAND ITALIANA SPA	MI1485650	31/12/2012	61 267 946 €
INGERSOLL-RAND COMPANY LIMITED	00176447	31/12/2012	1 185 000 £
OFFICINE MECCANICHE INDUSTRIALI S.R.L. P...	GO53009	31/12/2012	20 336 879 €
TRANE ITALIA S.R.L.	MI1011684	31/12/2012	22 266 040 €
BEST MATIC VERMÖGENSVERWALTUNGS GMBH	HRB 24739	31/12/2012	-
INGERSOLL-RAND AKTIEBOLAG	5560474198	31/12/2012	4 407 KSEK
DRESSER-RAND COMPANY LTD	06628833	31/12/2012	39 380 046 £
GHH-RAND SCHRAUBENKOMPRESSOREN GMBH	HRB 12742	-	-
BLAW-KNOX CONSTRUCTION EQUIP CORP	US16018045	-	0 $
DRESSER-RAND CO	US23330830	-	60 000 000 $
CLUB CAR, INC THE	US44218394	-	0 $
REVOS RUN SERVICES LLC	US55552820	-	0 $
- RAND (HONG KONG). ,	-	-	-
ABG, ALLGEMEINE BAUMASCHINEN	-	-	-
ETABLISSEMENTS MONTABERT S.A	-	-	-
HUSSMANN DO BRASIL	-	-	-
HUSSMANN KOXKA S.L	-	-	-
INGERSOJI - RAND (AUSTRALIA)	-	-	-
INGERSOLL - RAND INTERNATIONAL	-	-	-
INGERSOLL - RAND MALAYSIA CO.	-	-	-
INGERSOLL - RAND PHILIPPINES I	-	-	-
INGERSOLL RAND EQUIPMENT CONST	-	-	-
INGERSOLL-RAND (WUXI) ROAD MAC	-	-	-
INGERSOLL-RAND ARCHITECTURAL H	-	-	-
INGERSOLL-RAND COMPANY SOUTH A	-	-	-
INGERSOLL-RAND GAMBH	-	-	-
INGERSOLL-RAND JAPAN LIMITED	-	-	-
INGERSOLL-RAND MACHINERY (SHAN	-	-	-
INGERSOLL-RAND(HONG KONG) LIMI	-	-	-
LUOYANG HUSSMANN REFRIGERATION	-	-	-
NANJING INGERSOLL-RAND COMPRES	-	-	-
RAND (CHINA) INVESTMENT COMPAN	-	-	-
RAND (GUILIN) TOOLS COMPANY	-	-	-
RAND BRASIL LTDA,	-	-	-
RAND COMPANY	-	-	-
RAND INTERNATIONAL	-	-	-
SHANGHAI INGERSOLL-RAND COMPRE	-	-	-
THE TORRINGTON COMPANY	-	-	-
XUANHUA INGERSOLL-ARND MINING	-	-	-

FINANCIAL INFORMATION

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	28,199,989 €	22,564,938 €	20,382,813 €
Gross Operating Surplus	10,35 % Turnover	4,44 % Turnover	-0,13 % Turnover
Shareholders’ equity	2,969,032 €	1,488,209 €	1,948,258 €
Net result	1,480,823 €	-460,050 €	-1,430,659 €
Employees	50 to 99 employees	-	-

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	16/08/2013	17/07/2012	24/08/2011
Activity Code	2813Z	2813Z	2813Z
Employees	0	77	77

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 150 493	-2,4%	1 179 195	-0,1%	1 180 421	272 280	322,5%
- Intangible assets	475	-87,8%	3 895	0%	0	30 545,50	-98,4%
- Tangible assets	982 017	-4,2%	1 024 589	-4,6%	1 074 345	105 479	831,0%
- Financial assets	168 001	11,5%	150 711	42,1%	106 075	7 360,50	2182,5%
Net current assets	10 958 656	-13,5%	12 661 772	27,5%	9 930 242	1 635 658	570,0%
- Stocks	4 421 926	-20,4%	5 556 685	22,0%	4 554 358	595 151	643,0%
- Advanced payments	5 972 555	-13,5%	0	0%	0	0	0%
- Receivables	238 025	-96,6%	6 939 883	30,4%	5 321 507	878 111,50	-72,9%
- Securities and cash	326 150	97,4%	165 204	203,8%	54 377	166 895,50	95,4%
- Prepaid expenses	-	-	-	-	-	127	-
Accounts of regularization	0	0%	946	-73,2%	3 534	0	0%
Total Assets	12 109 150	-12,5%	13 841 914	24,5%	11 114 196	2 148 649	463,6%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Shareholders' equity	2 969 032	99,5%	1 488 209	-23,6%	1 948 258	966 029	207,3%
Share capital	3 379 000	0%	3 379 000	0%	3 379 000	382 479	783,4%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	768 246	-20,5%	966 783	-4,4%	1 010 944	11 444	6613,1%
Liabilities	8 367 828	-26,5%	11 386 715	39,7%	8 150 452	979 834,50	754,0%
- Financial liabilities	3 246 038	-38,8%	5 306 274	152,6%	2 100 356	69 481,50	4571,8%
- Advanced payments received	386 867	-66,5%	1 153 851	-15,6%	1 366 326	0	0%
- Trade account payables	3 415 625	11,4%	3 065 224	-7,2%	3 304 788	376 277	807,7%
- Tax and social liabilities	1 220 434	4,6%	1 166 778	-4,8%	1 225 313	226 400	439,1%
- Other debts and fixed assets liabilities	102 908	-65,1%	294 869	86,4%	158 211	30 859,50	233,5%
Account regularization	0	0%	399 926	0%	0	0	0%
Total liabilities	12 109 150	-12,5%	13 841 913	24,5%	11 114 196	2 148 648	463,6%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Sales of Goods	28 666 997	25,5%	22 847 689	11,2%	20 551 267	3 143 193,50	812,0%
Net turnover	28 199 989	25,0%	22 564 938	10,7%	20 382 813	3 000 356	839,9%
- of which net export turnover	19 271 069	26,6%	15 221 130	2,4%	14 871 637	191 768,50	9949,1%
Operating charges	27 034 107	16,3%	23 238 226	7,0%	21 711 220	3 145 118,50	759,6%
Operating profit/loss	1 632 890	518,1%	-390 537	66,3%	-1 159 953	61 175,50	2569,2%
Financial income	71 203	48,3%	48 024	100,7%	23 923	4 711,50	1411,3%
Financial charges	162 407	16,8%	139 028	-33,1%	207 733	9 691,50	1575,8%
Financial profit/loss	-91 204	-0,2%	-91 004	50,5%	-183 810	-2 730	-3240,8%
Pretax net operating income	1 541 686	420,2%	-481 541	64,2%	-1 343 763	66 284,50	2225,9%
Extraordinary income	01	-100,0%	22 409	3152,4%	689	7 732	-100,0%
Extraordinary charges	02	-99,8%	917	-99,0%	87 586	7 613,50	-100,0%
Extraordinary profit/loss	-01	-100,0%	21 492	124,7%	-86 897	-57	98,2%
Net result	1 480 823	421,9%	-460 050	67,8%	-1 430 659	64 185	2207,1%

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	12 109 150	-12,5%	13 841 914	24,5%	11 114 196
	Gross	CO	14 510 501	-9,4%	16 010 410	24,3%	12 876 494
	Amortisation	1A	2 401 351	10,7%	2 168 496	23,0%	1 762 298

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2012		31/12/2011		31/12/2010
	Total Active fixed asset (II)	Net	1 150 493	-2,4%	1 179 195	-0,1%	1 180 421
	Gross	BJ	2 788 904	12,1%	2 487 845	13,3%	2 196 041
	Amortisation	BK	1 638 411	25,2%	1 308 650	28,9%	1 015 621

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	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	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	475	-87,8%	3 895	0%	0
	Gross	AJ	101 126	0%	101 126	7,3%	94 286
	Amortisation	AK	100 651	3,5%	97 231	3,1%	94 286
	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	475	-87,8%	3 895	0%	0

Tangilble 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	215 797	-8,0%	234 686	2,2%	229 722
	Gross	AP	416 039	5,7%	393 711	12,0%	351 649
	Amortisation	AQ	200 242	25,9%	159 025	30,4%	121 927
	Plant	Net	715 917	0,4%	712 885	-11,2%	802 565
	Gross	AR	1 981 140	16,3%	1 704 106	9,7%	1 553 263
	Amortisation	AS	1 265 223	27,6%	991 221	32,0%	750 698
	Other tangible fixed assets	Net	21 546	-28,8%	30 265	-7,2%	32 628
	Gross	AT	93 841	2,6%	91 438	12,4%	81 338
	Amortisation	AU	72 295	18,2%	61 173	25,6%	48 710
	Fixed assets in construction	Net	28 757	-38,5%	46 753	395,8%	9 430
	Gross	AV	28 757	-38,5%	46 753	395,8%	9 430
	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	982 017		1 024 589		1 074 345

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	0	0%	0	0%	0
	Gross	CU	0	0%	0	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	71 002	21,9%	58 241	31,4%	44 321
	Gross	BF	71 002	0%	58 241	0%	44 321
	Amortisation	BG	0		0		0
	Other financial assets	Net	96 999	4,9%	92 470	49,7%	61 754
	Gross	BH	96 999	4,9%	92 470	49,7%	61 754
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		168 001		150 711		106 075

Current Assets (III)

			31/12/2012		31/12/2011		31/12/2010
	Total Assets	Net	10 958 656	-13,5%	12 661 772	27,5%	9 930 242
	Gross	CJ	11 721 597	-13,3%	13 521 618	26,6%	10 676 919
	Amortisation	CK	762 941	-11,3%	859 846	15,2%	746 677

Stocks

			31/12/2012		31/12/2011		31/12/2010
	Raw materials	Net	434 061	0%	0	0%	0
	Gross	BL	434 061	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	424 960	175,1%	154 490
	Gross	BN	0	0%	424 960	175,1%	154 490
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	1 754 800	0%	0	0%	0
	Gross	BP	1 902 431	0%	0	0%	0
	Amortisation	BQ	147 631	0%	0	0%	0
	Semi-finished and finished products	Net	2 233 065	35,2%	1 651 384	-6,5%	1 766 680
	Gross	BR	2 848 375	57,3%	1 811 259	-10,9%	2 033 878
	Amortisation	BS	615 310	284,9%	159 875	-40,2%	267 198
	Goods for resale	Net	0	0%	3 480 341	32,2%	2 633 188
	Gross	BT	0	0%	4 180 312	34,3%	3 112 667
	Amortisation	BU	0	0%	699 971	46,0%	479 479
	Sub Total Stocks	Net	4 421 926	-20,4%	5 556 685	22,0%	4 554 358

Advance payments to suppliers

			31/12/2012		31/12/2011		31/12/2010
	Advance payments to suppliers	Net	5 972 555	0%	0	0%	0
	Gross	BV	5 972 555	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	238 025	-96,2%	6 187 628	32,1%	4 685 233
	Gross	BX	238 025	-96,2%	6 187 628	32,1%	4 685 233
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	0	0%	620 017	35,1%	459 060
	Gross	BZ	0	0%	620 017	35,1%	459 060
	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	238 025	-96,5%	6 807 645	32,3%	5 144 293

Divers

			31/12/2012		31/12/2011		31/12/2010
	Investment securities	Net	284 045	0%	0	0%	0
	Gross	CD	284 045	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	42 105	-74,5%	165 204	203,8%	54 377
	Gross	CF	42 105	-74,5%	165 204	203,8%	54 377
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	326 150	97,4%	165 204	203,8%	54 377

Prepaid expenses

			31/12/2012		31/12/2011		31/12/2010
	Prepaid expenses	Net	0	0%	132 238	-25,4%	177 214
	Gross	CH	0	0%	132 238	-25,4%	177 214
	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%	946	-73,2%	3 534
Gross		0	0%	946	-73,2%	3 534

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	12 109 150	-12,5%	13 841 913	24,5%	11 114 196

Shareholder Equity (I)

			31/12/2012		31/12/2011		31/12/2010
	Total shareholders' equity (Total I)	DL	2 969 032	99,5%	1 488 209	-23,6%	1 948 258
	Equity and shareholders' equity	DA	3 379 000	0%	3 379 000	0%	3 379 000
	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
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-1 890 791	-32,2%	-1 430 742	-1723685,5%	-83
	Profit or loss for the period	DI	1 480 823	421,9%	-460 050	67,8%	-1 430 659
	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	768 246	-20,5%	966 783	-4,4%	1 010 944
	Risk provisions	DP	451 058	-4,9%	474 518	-26,3%	643 543
	Reserves for charges	DQ	317 188	-35,6%	492 265	34,0%	367 401

Liabilities (IV)

			31/12/2012		31/12/2011		31/12/2010
	Total Liabilities (Total IV)	EC	8 367 828	-26,5%	11 386 715	39,7%	8 150 452
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	3 211 219	-39,1%	5 273 442	154,8%	2 069 365
	Sundry loans and financial liabilities	DV	34 819	6,1%	32 832	5,9%	30 991
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	386 867	-66,5%	1 153 851	-15,6%	1 366 326
	Trade accounts payables	DX	3 415 625	11,4%	3 065 224	-7,2%	3 304 788
	Tax and social security liabilities	DY	1 220 434	4,6%	1 166 778	-4,8%	1 225 313
	Fixed asset liabilities	DZ	0	0%	0	0%	141
	Other debts	EA	98 864	-66,4%	294 662	91,9%	153 527

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	4 044	1853,6%	207	-95,4%	4 543

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	0	0%	399 926	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	7 980 961	-22,0%	10 232 863	50,8%	6 784 125
Of which current bank facilities	EH	3 211 219	-39,1%	5 273 442	154,8%	2 069 365

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	1 632 890	518,1%	-390 537	66,3%	-1 159 953

2 - Financial result (V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	-91 204	-0,2%	-91 004	50,5%	-183 810

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	1 541 686	420,2%	-481 541	64,2%	-1 343 763

4 - Extraordinary result (VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	-01	-100,0%	21 492	124,7%	-86 897

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	1 480 823	421,9%	-460 050	67,8%	-1 430 659

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	28 738 201	25,4%	22 918 122	11,4%	20 575 879

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	27 257 377	16,6%	23 378 171	6,2%	22 006 539

Operating income (I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	28 666 997	25,5%	22 847 689	11,2%	20 551 267

Operating income (details)

			31/12/2012		31/12/2011		31/12/2010
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	26 817 048	24,6%	21 517 711	13,4%	18 979 613
	France	FD	8 721 145	22,9%	7 094 223	34,5%	5 273 260
	Export	FE	18 095 903	25,5%	14 423 488	5,2%	13 706 353
	Sale of services	FI	1 382 941	32,1%	1 047 227	-25,4%	1 403 200
	France	FG	207 775	-16,8%	249 585	4,9%	237 916
	Export	FH	1 175 166	47,3%	797 642	-31,5%	1 165 284
	Net turnover	FL	28 199 989	25,0%	22 564 938	10,7%	20 382 813
	France	FJ	8 928 920	21,6%	7 343 808	33,3%	5 511 176
	Export	FK	19 271 069	26,6%	15 221 130	2,4%	14 871 637
	Stocked production	FM	100 274	109,6%	47 851	115,3%	-312 542
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	349 341	71,7%	203 407	-54,6%	448 160
	Other income	FQ	17 393	-44,8%	31 493	-4,1%	32 836

Operating charges (II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	27 034 107	16,3%	23 238 226	7,0%	21 711 220

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	8 975 375	19,0%	7 542 148	20,5%	6 257 238
Change in stocks of goods for resale	FT	1 149 295	217,1%	-981 133	-250,4%	652 342
Purchase of raw materials	FU	2 629 744	-20,2%	3 295 160	67,7%	1 965 389
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	8 184 624	15,4%	7 089 837	13,0%	6 275 959
Tax, duty and similar payments	FX	315 646	10,1%	286 764	4,7%	273 902
Payroll	FY	2 829 674	-5,0%	2 977 551	-8,5%	3 255 090
Social security costs	FZ	1 296 154	-7,4%	1 399 713	-1,2%	1 417 211

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	329 761	12,5%	293 029	2,2%	286 731
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	113 170	0%	0
Provisions for risks and charges	GD	54 845	-70,2%	184 233	-22,8%	238 630

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	1 268 989	22,3%	1 037 753	-4,7%	1 088 728

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	71 203	48,3%	48 024	100,7%	23 923
	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	1 782	2,2%	1 744	48,3%	1 176
	Released provisions and transferred charges	GM	946	-73,2%	3 534	92,7%	1 834
	Exchange gains	GN	68 475	60,2%	42 746	104,4%	20 913
	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	162 407	16,8%	139 028	-33,1%	207 733
	Financial reserves and provisions	GQ	0	0%	946	-73,2%	3 534
	Interest and similar charges	GR	94 091	-14,0%	109 358	-25,7%	147 178
	Exchange losses	GS	68 316	137,8%	28 724	-49,6%	57 021
	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	01	-100,0%	22 409	3152,4%	689
	Extraordinary operating income	HA	01	-88,9%	09	-98,7%	689
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	22 400	0%	0

Extraordinary charges (VIII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary charges (Total VIII)	HH	02	-99,8%	917	-99,0%	87 586
	Extraordinary operating charges	HE	02	-99,8%	917	-98,0%	46 186
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	19 000
	Extraordinary reserves and provisions	HG	0	0%	0	0%	22 400

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	60 861	0%	0	0%	0

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	1 268 853	22,4%	1 036 815	-2,6%	1 064 076

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	17 996	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	19 000
	Gross value at the end of period	OL	2 788 904	12,1%	2 487 845	13,3%	2 196 041

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	101 126	7,3%	94 286	0%	94 286
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	6 840	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	101 126	0%	101 126	7,3%	94 286

Tangible fixed assets (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LN	2 236 008	12,0%	1 995 680	4,0%	1 919 510
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	301 764	25,6%	240 330	152,5%	95 169
	Decreasess by budget item transfer	NG1	17 996	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	19 000
	Gross value at the end of period	NH	2 519 776	12,7%	2 236 010	12,0%	1 995 680

Fiancial assets (Total IV)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LQ	150 710	42,1%	106 075	17,9%	89 944
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	17 290	-61,3%	44 635	176,7%	16 132
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	168 000	11,5%	150 710	42,1%	106 075

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	97 231	3,1%	94 286	4,7%	90 096
Increases		PF	3 420	16,1%	2 945	-29,7%	4 190
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	100 651	3,5%	97 231	3,1%	94 286

Total fixed assets amotisation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	1 211 419	31,5%	921 335	44,2%	638 794
Increases		QV	326 341	12,5%	290 083	1,4%	286 099
Decreases		QW	0	0%	0	0%	3 558
	Decreasess by budget item transfer	QX	1 537 760	26,9%	1 211 418	31,5%	921 335

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	1 826 629	3,9%	1 757 620	-9,5%	1 943 051
Increases		UB	54 845	-81,6%	298 349	12,8%	264 564
Decreases		UC	350 288	52,7%	229 341	-49,0%	449 994
	Value at the end of period	UD	1 531 186	-16,2%	1 826 628	3,9%	1 757 621

Includes Total allocations

Operating	UE	54 845	-81,6%	297 403	24,6%	238 630
Financial	UG	0	0%	946	-73,2%	3 534
Exceptional	UJ	0	0%	0	0%	22 400

Includes Total Withdrawal

Operating	UF	349 341	71,7%	203 407	-54,6%	448 160
Financial	UH	946	-73,2%	3 534	92,7%	1 834
Exceptional	UK	0	0%	22 400	0%	0

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	0	0%	0	0%	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	966 782	-4,4%	1 010 944	17,1%	863 567
Increases		TV	54 845	-70,4%	185 179	-30,0%	264 564
Decreases		TW	253 381	10,5%	229 341	95,7%	117 187
	Value at the end of period	TX	768 246	-20,5%	966 782	-4,4%	1 010 944

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7B	859 846	15,2%	746 677	-30,8%	1 079 484
Increases		TY	0	0%	113 170	0%	0
Decreases		TZ	96 906	0%	0	0%	332 807
	Value at the end of period	UA	762 940	-11,3%	859 847	15,2%	746 677

State deadlines claims and debts at the end of period

State claims

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	6 420 686	-9,4%	7 090 594	0%	0
1 year at most	VU	6 252 685	-9,9%	6 939 884	0%	0
More than one year	VV	168 001	11,5%	150 710	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	71 002	21,9%	58 241	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	96 999	4,9%	92 470	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	5 972 555	-3,5%	6 187 628	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	11 305	6,2%	10 649	0%	0
Social Security and other social organizations	UZ	0	0%	66	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	226 596	-60,3%	570 991	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	124	-99,7%	38 311	0%	0

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	42 105	-68,2%	132 238	0%	0

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	7 980 961	-22,0%	10 232 863	0%	0
1 year at most		VZ2	7 980 961	-22,0%	10 232 863	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2012		31/12/2011		31/12/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	3 211 219	-39,1%	5 273 442	0%	0
1 year at most		VH2	3 211 219	-39,1%	5 273 442	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	34 819	6,1%	32 832	0%	0
1 year at most		8A2	34 819	6,1%	32 832	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	3 415 625	11,4%	3 065 224	0%	0
1 year at most		8B2	3 415 625	11,4%	3 065 224	0%	0
More than 1 year and 5 years at most		8B3	3 415 625	11,4%	3 065 224	0%	0
	Personnel and associated accounts (gross)	8C1	562 473	6,0%	530 801	0%	0
1 year at most		8C2	562 473	6,0%	530 801	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	597 981	0,6%	594 261	0%	0
1 year at most		8D2	597 981	0,6%	594 261	0%	0
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	59 980	43,8%	41 716	0%	0
1 year at most		VQ2	59 980	43,8%	41 716	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	98 864	-66,4%	294 662	0%	0
1 year at most		8K2	98 864	-66,4%	294 662	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	399 926	0%	0
1 year at most		8L2	0	0%	399 926	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

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

Table allocation results and other information

Dividends distributed

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

Commitments

		31/12/2012		31/12/2011		31/12/2010
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

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

Taxes and Fees

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

VAT

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

Average number of employees

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	0	0%	77	0%	77

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 Median 2012
Fixed Asset Financing		1,94	26,8%	1,53	-15,9%	1,82	1,89	2,6%
Global Debt		107 days	-41,2%	182 days	26,4%	144 days	115 days	-7,0%
Working Capital Fund overall net		33 days	57,1%	21 days	-34,4%	32 days	81 days	-59,3%
Financial independence		92,46%	227,6%	28,22%	-70,0%	94,15%	630,24%	-85,3%
More ratios
Solvability		24,52%	128,1%	10,75%	-38,7%	17,53%	43,93%	-44,2%
Capacity debt futures		92,46%	227,6%	28,22%	-	%	1343,11%	-93,1%
Coverage of current assets by net working capital overall		21,84%	123,5%	9,77%	-43,3%	17,24%	45,96%	-52,5%
General Liquidity		0,78	14,7%	0,68	-		0,90	-13,3%
Restricted Liquidity		0,82	18,8%	0,69	-		1,29	-36,4%

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Need background in operating working capital		70 days	-34,6%	107 days	67,2%	64 days	52 days	34,6%
Treasury		-37 days	54,9%	-82 days	-127,8%	-36 days	16 days	-331,2%
Inventory turnover of goods		0 days	0%	229 days	41,4%	162 days	46 days	0%
Average length of credit granted to customers		3 days	-97,0%	99 days	19,3%	83 days	77 days	-96,1%
Average length of credit obtained suppliers		59 days	-9,2%	65 days	-17,7%	79 days	73 days	-19,2%
More ratios
Inventory turnover of raw materials in industrial enterprises		59 days	0%	0 days	0%	0 days	58,50 days	0,9%
Inventory turnover of intermediate and finished products in the industrial enterprise		1119 days	10,9%	1009 days	-1,2%	1021 days	512 days	118,6%
Rotation tangible assets		1119,15%	10,9%	1009,16%	-1,2%	1021,35%	610,32%	83,4%

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Margin trading		-35,90%	-23,5%	-29,08%	14,2%	-33,90	0,01%	-359100%
Profitability of the business		10,35	133,1%	4,44	3515,4%	-0,13	5,53%	87,2%
Net profit		5,25%	357,4%	-2,04%	70,9%	-7,02%	3,40%	54,4%
More ratios
Growth rate of turnover (excluding VAT)		24,97%	133,1%	10,71%	196,5%	-11,10%	0,44%	5575,0%
Rates integration		26,10%	3,9%	25,11%	4,1%	24,13%	31,88%	-18,1%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		56,05%	-27,4%	77,24%	-18,7%	94,98%	73,32%	-23,6%
Weight interests		0,58	-6,5%	0,62%	-39,2%	1,02%	0,36%	61,1%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Cash flow from the overall profitability		5,18%	396,0%	-1,75%	77,0%	-7,60%	4,38%	18,3%
Rates of economic profitability		47%	213,3%	15%	1600%	-1%	15%	213,3%
Financial profitability		2969032%	99,5%	1488209%	-23,6%	1948258%	932040%	218,6%
Return on investment		26,44%	660,2%	-4,72%	84,4%	-30,21%	10,53%	151,1%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median 2012
Turnover	28 199 989	25,0%	22 564 938	10,7%	20 382 813	3 000 356 €	839,9%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	8 975 375	19,0%	7 542 148	20,5%	6 257 238
+/- Stock of goods variation	1 149 295	217,1%	-981 133	-250,4%	652 342
Trading margin	-10 124 670 €	-54,3%	-6 561 015 €	5,0%	-6 909 580 €	0 €	0%
	-35,90 % CA	-23,5%	-29,08 % CA	14,2%	-33,90 % CA	0,27 % CA	-13396,3%

Sale of goods produced	28 199 989	25,0%	22 564 938	10,7%	20 382 813
+/- Stocked production	100 274	109,6%	47 851	115,3%	-312 542
+ Self-constructed assets	0	0%	0	0%	0
Period production	28 300 263 €	25,2%	22 612 789 €	12,7%	20 070 271 €	1 573 439,50 €	1698,6%
	100,36 % CA	0,1%	100,21 % CA	1,8%	98,47 % CA	98,26 % CA	2,1%

Trading margin	-10 124 670	-54,3%	-6 561 015	5,0%	-6 909 580	0	0%
+ Period Production	28 300 263	25,2%	22 612 789	12,7%	20 070 271	1 573 439,50	1698,6%
- Purchase of raw materials	2 629 744	-20,2%	3 295 160	67,7%	1 965 389
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	8 184 624	15,4%	7 089 837	13,0%	6 275 959
Added value	7 361 225 €	29,9%	5 666 777 €	15,2%	4 919 343 €	808 763 €	810,2%
	26,10 % CA	3,9%	25,11 % CA	4,1%	24,13 % CA	31,88 % CA	-18,1%

Added value	7 361 225 €	29,9%	5 666 777 €	15,2%	4 919 343 €	808 763 €	810,2%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	315 646	10,1%	286 764	4,7%	273 902
- Personal charges	4 125 828	-5,7%	4 377 264	-6,3%	4 672 301
Gross operating surplus	2 919 751 €	191,2%	1 002 749 €	3833,2%	-26 860 €	106 254 €	2647,9%
	10,35 % CA	133,1%	4,44 % CA	3515,4%	-0,13 % CA	5,53 % CA	87,2%

Gross operating surplus	2 919 751 €	191,2%	1 002 749 €	3833,2%	-26 860 €	106 254 €	2647,9%
+ Release of reserves and provisions	349 341	71,7%	203 407	-54,6%	448 160
+ Other operating income	17 393	-44,8%	31 493	-4,1%	32 836
- Depreciation/Amortisation	384 606	-34,9%	590 432	12,4%	525 361
- Other charges	1 268 989	22,3%	1 037 753	-4,7%	1 088 728
Operating result	1 632 890 €	518,1%	-390 536 €	66,3%	-1 159 953 €	61 177 €	2569,1%
	5,79 % CA	434,7%	-1,73 % CA	69,6%	-5,69 % CA	4,10 % CA	41,2%

Operating result	1 632 890 €	518,1%	-390 536 €	66,3%	-1 159 953 €	61 177 €	2569,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	71 203	48,3%	48 024	100,7%	23 923
- Financial charges	162 407	16,8%	139 028	-33,1%	207 733
Pre-tax result	1 541 686 €	420,2%	-481 540 €	64,2%	-1 343 763 €	66 284,50 €	2225,9%
	5,47 % CA	356,8%	-2,13 % CA	67,7%	-6,59 % CA	4,47 % CA	22,4%

Extraordinary income	01	-100,0%	22 409	3152,4%	689	7 732	-100,0%
- Extraordinary charges	02	-99,8%	917	-99,0%	87 586
Extraordinary result	-01 €	-100,0%	21 492 €	124,7%	-86 897 €	-57 €	98,2%
	0,00 % CA	0%	0,10 % CA	123,3%	0 % CA	-00,01 % CA	0%

Pre-tax result	1 541 686 €	420,2%	-481 540 €	64,2%	-1 343 763 €	66 284,50 €	2225,9%
Extraordinary result	-01 €	-100,0%	21 492 €	124,7%	-86 897 €	-57 €	98,2%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	60 861	0%	0	0%	0
Net result	1 480 824 €	421,9%	-460 048 €	67,8%	-1 430 660 €	64 185 €	2207,1%
	5,25 % CA	357,4%	-2,04 % CA	70,9%	-7,02 % CA	3,40 % CA	54,4%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Establishment details

Activity (APE)	Manufacture of other pumps and compressors (2813Z)	Business Pages FT®
Postal Address	INGERSOLL-RAND AIR SOLUTIONS HIBON 2 RUE JEAN PAUL SARTRE 59290 WASQUEHAL	Trading Address	2 RUE JEAN PAUL SARTRE 59290 WASQUEHAL
Telephone	03 20 80 64 03
Fax

Type	Head office	Status	Economically active
Formation Date	05/2007	Reason for formation	N/R
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Nord (59)	Region	Nord-Pas-de-Calais
District	5	Area	54
City	WASQUEHAL	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> INGERSOLL-RAND AIR SOLUTIONS HIBON <<<  - Fabrication d'autres pompes et compresseurs (2813Z)  in WASQUEHAL  (59290)
Secondary establishments	>  INGERSOLL-RAND AIR SOLUTIONS HIBON  - Fabrication d'autres pompes et compresseurs (2813Z)  in LES CLAYES SOUS BOIS  (78340) >  INGERSOLL-RAND AIR SOLUTIONS HIBON  - Fabrication d'autres pompes et compresseurs (2813Z)  in METZ  (57070) >  INGERSOLL-RAND AIR SOLUTIONS HIBON  - Fabrication d'autres pompes et compresseurs (2813Z)  in ROUBAIX  (59100)

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

50 to 99 employees

Event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
08/11/2013	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE METROPOLE 999 - 490 868 106 RCS Lille Métropole. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : Société à responsabilité limitée (à associé unique). Administration : modification du Commissaire aux comptes suppléant Boris, Etienne, nomination du Commissaire aux comptes suppléant : Chaumartin, nom d'usage : Roesch, Anik. Capital : 3379000 EUR. Activité : . Adresse du siège social : 2 rue Jean Paul Sartre, 59290 Wasquehal. Commentaires : modification survenue sur l'administration.
03/09/2013	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE MÉTROPOLE 5210 - 490868106 RCS. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : Société à responsabilité limitée (à associé unique). Adresse : 2 rue Jean Paul Sartre 59290 Wasquehal. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
22/08/2012	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 9787 - 490868106 RCS. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : S.A.R.L. à associé unique. Adresse : 2 rue Jean Paul Sartre 59290 Wasquehal. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
28/01/2011	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 1007 - 490 868 106 RCS Roubaix-Tourcoing. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : S.A.R.L. à associé unique. Administration : Gérant : PARRA PALMERO Salvador Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Capital : 3379000 EUR. Activité : Fabrication, vente service après vente d'équipements a air comprime a flux d'air ou de tout autre equipement industriel en tant qu'agent ou principal. Adresse de l’établissement principal : 2 rue Jean Paul Sartre, 59290 Wasquehal. Adresse du siège social : 2 rue Jean Paul Sartre, 59290 Wasquehal. Commentaires : Augmentation de capital Réduction du capital. Date de commencement de l’activité : 29/09/2006. Date d’effet : 23/12/2010.
31/12/2010	JAL	Modification of the share capital
Observateur de l'Arrageois (L') Date de décision : 23/12/2010 La société : 490868106 - INGERSOLL-RAND AIR SOLUTIONS HIBON, 2 RUE JEAN PAUL SARTRE, 59290 WASQUEHAL a subi une diminution de son capital social désormais de 3 379 000 € Date d'effet : 23/12/2010
01/09/2010	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 2573 - 490868106 RCS. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : S.A.R.L. à associé unique. Adresse : 2 rue Jean Paul Sartre 59290 Wasquehal. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
02/12/2009	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 938 - 490 868 106 RCS Roubaix-Tourcoing. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : S.A.R.L. à associé unique. Administration : Gérant : PARRA PALMERO Salvador Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT Commissaire aux comptes suppléant : BORIS Etienne. Capital : 4875000 EUR. Activité : Fabrication, vente service après vente d'équipements a air comprime a flux d'air ou de tout autre equipement industriel en tant qu'agent ou principal. Adresse de l’établissement principal : 2 rue Jean Paul Sartre, 59290 Wasquehal. Adresse du siège social : 2 rue Jean Paul Sartre, 59290 Wasquehal. Commentaires : Augmentation de capital. Date de commencement de l’activité : 29/09/2006. Date d’effet : 29/10/2009.
20/11/2009	JAL	Modification of the share capital
l'observateur de l'Avesnois Date de décision : 29/10/2009 La société : 490868106 - INGERSOLL-RAND AIR SOLUTIONS HIBON, 2 RUE JEAN PAUL SARTRE, 59290 WASQUEHAL a subi une augmentation de son capital social désormais de 4 875 000 €
21/08/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 2268 - 490868106 RCS. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : Société à responsabilité limitée unipersonnelle. Adresse : 2 rue Jean Paul Sartre 59290 Wasquehal. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
12/01/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 5693 - 490868106 RCS. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : Société à responsabilité limitée unipersonnelle. Adresse : 2 rue Jean Paul Sartre 59290 Wasquehal. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
08/07/2008	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 1170 - 490 868 106 RCS Roubaix-Tourcoing. INGERSOLL-RAND AIR SOLUTIONS HIBON. Forme : S.A.R.L. à associé unique. Administration : Gérant : FAR LydiaGérant : PARRA PALMERO Salvador. Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Commissaire aux comptes suppléant : BORIS Etienne. Capital : 3550000 EUR. Activité : Fabrication, vente service après vente d'équipements a air comprime a flux d'air ou de tout autre equipement industriel en tant qu'agent ou principal. Adresse de l’établissement principal : 2 rue Jean Paul Sartre, 59290 Wasquehal. Adresse du siège social : 2 rue Jean Paul Sartre, 59290 Wasquehal. Commentaires : Changement de dénomination sociale. Date de commencement de l’activité : 29/09/2006. Date d’effet : 16/05/2008.
26/10/2007	Bodacc C	Avis de dépôt des comptes
3896 - 490 868 106. RCS Versailles INGERSOLL-RAND AIR SOLUTI0NS (FRANCE). Forme: Société à responsabilité limitée. Adresse du siège social: Zone du Chêne Sorcier 78340 Les Clayes-sous-Bois. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
26/09/2007	Bodacc B	Modifications et mutations diverses
1654 - Ancienne situation du siège social : RCS Roubaix-Tourcoing B 490 868 106. RC 06-B 1425. INGERSOLL-RAND AIR SOLUTIONS (FRANCE). Forme : S.A.R.L. à associé unique. Capital : 50 000 euros. Adresse : zone du Chêne-Sorcier, 78340 Nouvelle situation du siège social - Dénomination : E.U.R.L. INGERSOLL-RAND AIR SOLUTIONS (FRANCE). Adresse : 2 rue Jean-Paul-Sartre, 59290 Etablissement principal - Activité : fabrication, vente, service après-vente d'équipements à air comprimé à flux d'air ou de tout autre équipement industriel en tant qu'agent ou principal. Adresse : 2 rue Jean-Paul-Sartre, 59290 Commentaires : transfert du siège social hors ressort à l'adresse de l'établissement secondaire. Date d'effet : 18 mai 2007.
24/11/2006	Bodacc B	Modifications et mutations diverses
1584 - RCS Versailles B 490 868 106. RC 06-B 2298. INGERSOLL-RAND AIR SOLUTI0NS (FRANCE). Forme : S.A.R.L. Commentaires : modification survenue sur l'administration. Administration : gérant partant : MACK (Robert, Paul). Nomination d'un cogérant non associé : PARRA PALMERO (Salvador).
10/11/2006	Bodacc A	Vente et cession
0530 - RCS Versailles B 490 868 106. INGERSOLL-RAND AIR SOLUTIONS (FRANCE). Forme : S.A.R.L. Capital : 50 000 euros. Adresse du siège social : zone du Chêne Sorcier, 78340 Les Clayes-sous-Bois. Etablissement principal - Activité : fabrication d'emballage, vente de produits de pression et de fourniture de services techniques y afférents y compris certains services après-vente. Adresse : 38 boulevard de Reims, 59100 Roubaix. Etablissement principal acquis par achat au prix stipulé de 5 573 001 euros à l'exception des actifs incorporels. Date d'effet : 29 septembre 2006. Précédent propriétaire : HIBON. RCS Roubaix-Tourcoing B 475 881 330. Publication légale : L'Indicateur des Flandres du 13 octobre 2006. Oppositions : au fonds.
16/07/2006	Bodacc A	Création d'établissement
1363 - RCS Versailles B 490 868 106. RC 06-B 2298. INGERSOLL-RAND AIR SOLUTIONS (FRANCE). Forme : S.A.R.L. Capital : 50 000 euros. Adresse du siège social : zone du Chêne Sorcier, 78340 Les Clayes-sous-Bois. Administration : gérants : MACK (Robert, Paul) et FAR (Lydia) (Nom d'usage : BUIL). Etablissement principal - Activité : fabrication, vente, service après-vente d'équipements à air comprimé, à flux d'air ou de tout autre équipement industriel en tant qu'agent ou principal. Adresse : zone du Chêne Sorcier, 78340 Les Clayes-sous-Bois. Cette société se constitue . Date de début d'activité : 30 juin 2006.

Company events history

Date	Description
08/11/2013	Bodacc B: Various editing or changing
14/10/2013	Minutes of general meeting of shareholders
14/10/2013	New auditor
03/09/2013	Bodacc C : Deposit accounts notice
17/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
22/08/2012	Bodacc C : Deposit accounts notice
19/07/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2011	New accounts available
05/09/2011	Bodacc C : Deposit accounts notice
26/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/01/2011	Bodacc B: Various editing or changing
18/01/2011	Capital increase
18/01/2011	Capital reduction
18/01/2011	Minutes of general meeting of shareholders
18/01/2011	Updated articles of association
31/12/2010	New accounts available
23/12/2010	Legal Gazette: Modification of the share capital
23/12/2010	Other modification of Establishment
01/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
07/12/2009	Payment incident closed
02/12/2009	Bodacc B: Various editing or changing
19/11/2009	Statuts mis à jour
19/11/2009	Updated articles of association
19/11/2009	Minutes of general meeting of shareholders
19/11/2009	Augmentation de Capital
19/11/2009	Capital increase
19/11/2009	Acte modificatif
29/10/2009	Legal Gazette: Modification of the share capital
29/10/2009	Update of Company Workforce
29/10/2009	Other modification of Establishment
16/10/2009	Payment incident detected
21/08/2009	Bodacc C : Deposit accounts notice
23/03/2009	Collection of preferential rights activated for this company
12/01/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
08/07/2008	Bodacc B: Various editing or changing
08/07/2008	New Bodacc B ads detected
25/06/2008	Application and court order
25/06/2008	Prorogation de durée
25/06/2008	Extension of term
25/06/2008	Requête et Ordonnance
24/06/2008	Changement de dénomination sociale
24/06/2008	New company name
24/06/2008	Private document
24/06/2008	Minutes of general meeting of shareholders
24/06/2008	Statuts mis à jour
24/06/2008	Updated articles of association
24/06/2008	Acte modificatif
16/05/2008	Modification to Company Identifier
16/05/2008	Update of Company Name
29/01/2008	Capital increase
29/01/2008	Updated articles of association
29/01/2008	Fund deposit certificate
29/01/2008	Statuts mis à jour
29/01/2008	Minutes of general meeting of shareholders
29/01/2008	Private document
29/01/2008	Amendment
29/01/2008	Acte modificatif
29/01/2008	Augmentation de Capital
28/01/2008	Update of Company Activity
28/01/2008	Modification of Company Activity
27/12/2007	Other modification of Establishment
17/08/2007	Appointment/resignation of company officers
17/08/2007	Acte modificatif
17/08/2007	Changement de Commissaire aux Comptes
17/08/2007	Private document
17/08/2007	Transfert du Siège dans le ressort du Tribunal de Commerce
17/08/2007	Registered office transferred inside jurisdiction of the Commercial Court
17/08/2007	PV d'Assemblée
17/08/2007	Minutes of general meeting of shareholders
17/08/2007	Statuts mis à jour
17/08/2007	Updated articles of association
18/05/2007	Transfer of Establishment
18/05/2007	Update of Company Head Office Identifier
31/12/2006	New accounts available
09/11/2006	Nomination/démission des organes de gestion
09/11/2006	Acte modificatif
09/11/2006	New manager
09/11/2006	Updated articles of association
09/11/2006	Statuts mis à jour
09/11/2006	Changement de Gérant
09/11/2006	Minutes of general meeting of shareholders
09/11/2006	Appointment/resignation of company officers
09/11/2006	Private document
03/07/2006	Articles of association
03/07/2006	Statuts
03/07/2006	Nomination/démission des organes de gestion
03/07/2006	Fund deposit certificate
03/07/2006	Certificat de dépôt des fonds
03/07/2006	Private document
03/07/2006	Formation de Société
03/07/2006	Company formation

Establishment events history

Date	Description
29/10/2009	Update of Establishment Workforce
16/05/2008	Modification of Head office
28/01/2008	Update of Establishment Activity
18/05/2007	Formation of Head office (after transfer)

NOTES & COMMENTS

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 creditor days are 44.21
	The decrease in the gearing percentage over the last two accounting periods is 68 %
	The risk provisions are 768,246 €
	The company has 1 director(s)
	The total assets are 12,109,150 €
	The liabilities are 8,367,828 €
	The net current assets are 10,958,656 €
	The net turnover is 28,199,989 €
	The pre-tax profit is 1,541,684 €
	The shareholder's equity is 2,969,032 €
	The sales to current assets ratio is 2,57
	The ratio total assets to total liabilities is 1,33
	The return on total assets employed is 12.73
	High risk workforce size
	The stock to turnover ratio is 15.68

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.23
UK Pound	1	Rs.101.68
Euro	1	Rs.83.46

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	NNA

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.