MIRA INFORM REPORT

Report Date :

24.05.2014

IDENTIFICATION DETAILS

Name :	H. GRINGOIRE
Registered Office :	79 Rue De Turbigo, 75003 Paris 3
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	January 1954
Com. Reg. No.:	RCS Paris 5 542 030 630
Legal Form :	Limited Liability Company
Line of Business :	Wholesaler of other household goods (Detailed activity is not available )
No. of Employees :	14 (31.12.2010)

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow
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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	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 79 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 reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

company summary

		EUR VAT Number	FR04542030630
Activity (APE)	Wholesaler of other household goods	Legal form	Limited Liability Company
Phone	01 53 01 95 30	RCS Registration	RCS Paris 5 542 030 630
Fax		Share capital	5,000,000 Euros
Address	H. GRINGOIRE 79 RUE DE TURBIGO 75003 PARIS 3	Incorporated Date	06/1954
Nationality	France	Status	Economically active

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	3,415,826 €	2,747,761 €	3,496,539 €
Gross Operating Surplus	-14,90 % Turnover	-27,93 % Turnover	-17,07 % Turnover
Shareholders’ equity	1,411,033 €	-1,202,215 €	-59,763 €
Net result	-493,753 €	-1,142,451 €	-713,230 €
Employees	14	-	-

Company details

Activity (APE)	Wholesaler of other household goods
RCS Registration	RCS Paris 5 542 030 630	Share capital	5,000,000 Euros
Registration Court	Paris (75)	Legal form	Limited Liability Company
Court Registry Number	19 5 4B03063	EUR VAT Number	FR04542030630
Incorporation Date	06/1954	Formation Date	01/1954
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Wholesaler of other household goods	Business Pages FT®	BIJOUTIERS (FABRICATION, GROS)
Postal Address	H. GRINGOIRE 79 RUE DE TURBIGO 75003 PARIS 3	Trading Address	79 RUE DE TURBIGO 75003 PARIS 3
Telephone	01 53 01 95 30
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1954	Reason for formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Store
Location surface	From 300 m² to less than 400 m²	Seasonality

Department	Paris (75)	Region	Ile-de-France
District	1	Area	99
City	PARIS 3	Size of urban area	Paris conglomeration

Other establishments

Branches	1 branch entities in this company
Head office	> H. GRINGOIRE <<<  - Wholesaler of other household goods   in PARIS 3  (75003)
Secondary establishments

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

14

Company workforce

14

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. LE DOUR YVAN
Manager position	Manager	Date of birth	04/03/1963
Place of birth	PARIS (75015)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	MME FRANCOISE BERBERICH BETSCHART	14/07/1941 - TARBES
Manager	M YVAN LE DOUR	04/03/1963 - PARIS 15
Manager	M YVAN LE DOUR	04/03/1963 - PARIS (75015)

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	23/12/2010
Status of Monitoring	No social security and tax office preferential right to date

SHARE & SHARE CAPITAL INFORMATION

Share capital

5,000,000 Euros

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	PRANDA JEWELRY PUBLIC CO. LTD.	-

Group data

Ultimate parent company	PRANDA JEWELRY PUBLIC CO. LTD.
Direct parent	PRANDA JEWELRY PUBLIC CO. LTD. - 100 %
Group – Number of companies	18
Linkages – Number of companies	37
Number of countries	5

Group Structure

Go directly to the current company

Display only where participation % > 33 %

Linkages

Ultimate parent company	PRANDA JEWELRY PUBLIC CO. LTD.
Direct parent	PRANDA JEWELRY PUBLIC CO. LTD. - 100 %
Group – Number of companies	18
Linkages – Number of companies	37
Number of countries	5

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	01/09/2011	29/11/2010	-
Activity Code	4649Z	4649Z	4649Z
Employees	14	14	14

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	280 870	172,3%	103 145	7,0%	96 364	18 764,50	1396,8%
- Intangible assets	63 832	99,3%	32 027	32,3%	24 202	0	0%
- Tangible assets	194 046	303,5%	48 096	-2,1%	49 108	4 676,50	4049,4%
- Financial assets	22 992	-0,1%	23 023	-0,1%	23 054	1 231	1767,7%
Net current assets	4 847 453	28,5%	3 771 360	-16,2%	4 500 742	187 677,50	2482,9%
- Stocks	2 262 355	43,3%	1 579 240	-31,8%	2 314 106	35 599	6255,1%
- Advanced payments	0	28,5%	0	0%	0	0	0%
- Receivables	2 326 029	47,4%	1 577 908	1,3%	1 558 404	59 848,50	3786,5%
- Securities and cash	259 069	-57,8%	614 212	-2,2%	628 233	24 049,50	977,2%
- Prepaid expenses	-	-	-	-	-	37,50	-
Accounts of regularization	4 298	24,6%	3 450	0%	0	0	0%
Total Assets	5 132 621	32,4%	3 877 955	-15,6%	4 597 106	235 587	2078,7%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	1 411 033	217,4%	-1 202 215	-1911,6%	-59 763	66 036	2036,8%
Share capital	5 000 000	164,1%	1 893 000	0%	1 893 000	10 000	49900%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	4 298	24,6%	3 450	0%	0	0	0%
Liabilities	3 717 289	-25,5%	4 990 267	9,4%	4 562 236	143 638	2488,0%
- Financial liabilities	35 455	0,0%	35 456	0%	35 456	16 511,50	114,7%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	3 491 876	-26,4%	4 741 357	8,7%	4 362 333	41 214	8372,5%
- Tax and social liabilities	175 918	-0,3%	176 414	34,9%	130 738	32 919,50	434,4%
- Other debts and fixed assets liabilities	14 040	-88,6%	123 493	-3,8%	128 342	4 658,50	201,4%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	5 132 620	32,4%	3 877 955	-15,6%	4 597 106	235 705	2077,6%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	3 569 757	27,4%	2 801 079	-21,1%	3 552 221	349 998	919,9%
Net turnover	3 415 826	24,3%	2 747 761	-21,4%	3 496 539	342 949,50	896,0%
- of which net export turnover	284 151	7,6%	264 034	-46,9%	496 797	0	0%
Operating charges	4 046 605	2,3%	3 954 959	-10,7%	4 430 525	341 006	1086,7%
Operating profit/loss	-476 848	58,7%	-1 153 880	-31,4%	-878 304	7 207	-6716,5%
Financial income	29 435	-34,7%	45 099	-77,2%	197 840	14	210150,0%
Financial charges	47 187	152,2%	18 712	-46,2%	34 750	810	5725,6%
Financial profit/loss	-17 752	-167,3%	26 387	-83,8%	163 090	-230,50	-7601,5%
Pretax net operating income	-494 600	56,1%	-1 127 493	-57,6%	-715 214	6 241,50	-8024,4%
Extraordinary income	0	0%	269	-98,4%	17 160	01	0%
Extraordinary charges	485	-97,1%	16 827	10,9%	15 176	150	223,3%
Extraordinary profit/loss	-485	97,1%	-16 558	-934,6%	1 984	0	0%
Net result	-493 753	56,8%	-1 142 451	-60,2%	-713 230	6 011	-8314,2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2008
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	5 132 621	32,4%	3 877 955	-15,6%	4 597 106
	Gross	CO	5 917 541	20,8%	4 898 063	-7,5%	5 295 353
	Amortisation	1A	784 920	-23,1%	1 020 108	46,1%	698 247

Non declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	280 870	172,3%	103 145	7,0%	96 364
	Gross	BJ	458 412	2,9%	445 659	-6,8%	477 981
	Amortisation	BK	177 542	-48,2%	342 513	-10,2%	381 617

Intangilble fixed assets

			31/12/2010		31/12/2009		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%	2 500
	Amortisation	AE	0	0%	0	0%	2 500
	Distributorships, patents	Net	59 201	116,1%	27 396	40,0%	19 571
	Gross	AF	126 899	21,1%	104 806	-24,6%	139 083
	Amortisation	AG	67 698	-12,5%	77 410	-35,2%	119 512
	Goodwill	Net	4 631	0%	4 631	0%	4 631
	Gross	AH	4 631	0%	4 631	0%	4 631
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	494	0%	494	0%	494
	Amortisation	AK	494	0%	494	0%	494
	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	63 832	99,3%	32 027	32,3%	24 202

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	7 573	0%	0	0%	516
	Gross	AR	25 096	44,8%	17 329	0%	17 329
	Amortisation	AS	17 523	1,1%	17 329	3,1%	16 813
	Other tangible fixed assets	Net	186 473	287,7%	48 096	-1,0%	48 592
	Gross	AT	278 300	-5,8%	295 376	4,2%	283 420
	Amortisation	AU	91 827	-62,9%	247 280	5,3%	234 828
	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	194 046		48 096		49 108

Financial assets

			31/12/2010		31/12/2009		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	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	7 470
	Amortisation	CV	0	0%	0	0%	7 470
	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	22 992	-0,1%	23 023	-0,1%	23 054
	Gross	BH	22 992	-0,1%	23 023	-0,1%	23 054
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		22 992		23 023		23 054

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	4 847 453	28,5%	3 771 360	-16,2%	4 500 742
	Gross	CJ	5 454 831	22,6%	4 448 954	-7,6%	4 817 372
	Amortisation	CK	607 378	-10,4%	677 594	114,0%	316 630

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	127 183	61,8%	78 581	-8,4%	85 828
	Gross	BL	170 183	116,6%	78 581	-8,4%	85 828
	Amortisation	BM	43 000	0%	0	0%	0
	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	2 135 172	42,3%	1 500 659	-32,7%	2 228 278
	Gross	BT	2 633 582	23,8%	2 127 447	-14,0%	2 472 840
	Amortisation	BU	498 410	-20,5%	626 788	156,3%	244 562
	Sub Total Stocks	Net	2 262 355	43,3%	1 579 240	-31,8%	2 314 106

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	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

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	2 046 816	41,6%	1 445 694	0,6%	1 437 005
	Gross	BX	2 112 784	41,2%	1 496 500	-0,8%	1 509 072
	Amortisation	BY	65 968	29,8%	50 806	-29,5%	72 067
	Other debtors	Net	187 052	135,9%	79 290	1,5%	78 100
	Gross	BZ	187 052	135,9%	79 290	1,5%	78 100
	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	2 233 868	46,5%	1 524 984	0,7%	1 515 105

Divers

			31/12/2010		31/12/2009		31/12/2008
	Investment securities	Net	200 000	0%	200 000	0,0%	200 091
	Gross	CD	200 000	0%	200 000	0,0%	200 091
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	59 069	-85,7%	414 212	-3,3%	428 142
	Gross	CF	59 069	-85,7%	414 212	-3,3%	428 142
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	259 069	-57,8%	614 212	-2,2%	628 233

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2008
	Prepaid expenses	Net	92 161	74,1%	52 924	22,2%	43 299
	Gross	CH	92 161	74,1%	52 924	22,2%	43 299
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	4 298	24,6%	3 450	0%	0
Gross		4 298	24,6%	3 450	-	-

References

		31/12/2010		31/12/2009		31/12/2008
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	76 230	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)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	5 132 620	32,4%	3 877 955	-15,6%	4 597 106

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	1 411 033	217,4%	-1 202 215	-1911,6%	-59 763
	Equity and shareholders' equity	DA	5 000 000	164,1%	1 893 000	0%	1 893 000
	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	-3 095 214	-58,5%	-1 952 763	-57,5%	-1 239 533
	Profit or loss for the period	DI	-493 753	56,8%	-1 142 452	-60,2%	-713 230
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2010		31/12/2009		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

Provisions for risks and charges (III)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	4 298	24,6%	3 450	0%	0
	Risk provisions	DP	4 298	24,6%	3 450	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	3 717 289	-25,5%	4 990 267	9,4%	4 562 236
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	0
	Sundry loans and financial liabilities	DV	35 455	0,0%	35 456	0%	35 456
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	3 491 876	-26,4%	4 741 357	8,7%	4 362 333
	Tax and social security liabilities	DY	175 918	-0,3%	176 414	34,9%	130 738
	Fixed asset liabilities	DZ	1 331	0%	0	0%	0
	Other debts	EA	12 709	-65,7%	37 040	9,9%	33 709

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	0	0%	86 453	-8,6%	94 633

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	3 681 835	88,3%	1 954 811	-56,8%	4 526 780
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	-476 848	58,7%	-1 153 880	-31,4%	-878 304

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-17 752	-167,3%	26 387	-83,8%	163 090

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-494 600	56,1%	-1 127 493	-57,6%	-715 214

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-485	97,1%	-16 558	-934,6%	1 984

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	-493 753	56,8%	-1 142 451	-60,2%	-713 230

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	3 599 192	26,4%	2 846 447	-24,4%	3 767 221

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	4 092 944	2,6%	3 988 898	-11,0%	4 480 451

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	3 569 757	27,4%	2 801 079	-21,1%	3 552 221

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	Sale of goods for resale	FC	3 325 958	23,0%	2 705 016	-22,3%	3 481 694
	France	FA	3 066 501	25,7%	2 438 687	-18,3%	2 986 356
	Export	FB	259 457	-2,6%	266 329	-46,2%	495 338
	Sale of goods produced	FF	51 731	50,5%	34 377	0%	0
	France	FD	51 731	50,5%	34 377	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	38 137	355,7%	8 368	-43,6%	14 845
	France	FG	13 443	26,1%	10 663	-20,3%	13 386
	Export	FH	24 694	1176,0%	-2 295	-257,3%	1 459
	Net turnover	FL	3 415 826	24,3%	2 747 761	-21,4%	3 496 539
	France	FJ	3 131 675	26,1%	2 483 727	-17,2%	2 999 742
	Export	FK	284 151	7,6%	264 034	-46,9%	496 797
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	2 000	0%	0
	Release of reserves and provisions	FP	137 965	249,0%	39 526	57,4%	25 112
	Other income	FQ	15 966	35,4%	11 792	-61,4%	30 570

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	4 046 605	2,3%	3 954 959	-10,7%	4 430 525

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	2 743 959	84,9%	1 484 151	-41,6%	2 543 529
Change in stocks of goods for resale	FT	-506 135	-242,2%	356 001	224,6%	-285 654
Purchase of raw materials	FU	52 521	5,4%	49 852	-18,6%	61 230
Change in stocks of raw materials	FV	-91 602	-1364,0%	7 247	126,1%	-27 774
Other external purchases and charges	FW	859 835	10,2%	780 355	-14,3%	910 433
Tax, duty and similar payments	FX	81 050	-11,9%	92 015	-3,9%	95 759
Payroll	FY	537 949	4,2%	516 401	-6,6%	552 649
Social security costs	FZ	247 151	6,9%	231 201	-5,0%	243 313

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	36 982	28,5%	28 776	-10,5%	32 153
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	65 775	-82,5%	376 779	45,8%	258 399
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	19 120	-40,6%	32 181	-30,8%	46 488

Operating charges (III-IV)

		31/12/2010		31/12/2009		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)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	29 435	-34,7%	45 099	-77,2%	197 840
	Share financial income	GJ	950	-37,7%	1 526	-85,0%	10 145
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	0	0%	0	0%	07
	Released provisions and transferred charges	GM	3 450	0%	0	0%	0
	Exchange gains	GN	25 035	-42,5%	43 573	-76,8%	187 688
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	47 187	152,2%	18 712	-46,2%	34 750
	Financial reserves and provisions	GQ	4 298	24,6%	3 450	-53,8%	7 470
	Interest and similar charges	GR	21 147	48,5%	14 245	-45,2%	25 996
	Exchange losses	GS	21 742	2037,9%	1 017	-20,8%	1 284
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	0	0%	269	-98,4%	17 160
	Extraordinary operating income	HA	0	0%	269	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	2 160
	Released provisions and transferred charges	HC	0	0%	0	0%	15 000

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	485	-97,1%	16 827	10,9%	15 176
	Extraordinary operating charges	HE	295	-93,8%	4 746	-64,4%	13 331
	Extraordinary charges from capital transactions	HF	0	0%	5 556	201,1%	1 845
	Extraordinary reserves and provisions	HG	190	-97,1%	6 525	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	-1 333	16,7%	-1 600	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
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	1 973	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	12 000	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)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	434 805
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	64 575
	Decreasess by budget item transfer	OK1	0	0%	0	0%	3 093
	Decreasess by transfers	OK2	202 174	171,6%	74 435	306,6%	18 307
	Gross value at the end of period	OL	458 411	2,9%	445 658	-6,8%	477 981

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	CZ	0	0%	2 500	0%	2 500
	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%	2 500	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	2 500

Other budget item from Intangible fixed assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	KD	109 930	-23,8%	144 207	14,3%	126 193
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	47 351	57,0%	30 157	49,5%	20 174
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	25 258	-60,8%	64 434	2883,1%	2 160
	Gross value at the end of period	LW	132 023	20,1%	109 930	-23,8%	144 208

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	312 705	4,0%	300 750	9,1%	275 558
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	167 575	1301,7%	11 955	-73,1%	44 401
	Decreasess by budget item transfer	NG1	0	0%	0	0%	3 093
	Decreasess by transfers	NG2	176 884	0%	0	0%	16 117
	Gross value at the end of period	NH	303 396	-3,0%	312 705	4,0%	300 749

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	23 023	-24,6%	30 524	-0,1%	30 554
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	31	-99,6%	7 501	24903,3%	30
	Gross value at the end of period	NK	22 992	-0,1%	23 023	-24,6%	30 524

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

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	358 424
Increases		0P	0	0%	0	0%	32 152
Decreasess		0Q	0	0%	0	0%	16 431
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	374 145

Research and development charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	2 500
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	2 500

Other intangible assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	77 904	-35,1%	120 006	21,4%	98 854
Increases		PF	15 547	-30,4%	22 332	4,0%	21 465
Decreasess		PG	25 258	-60,8%	64 434	20420,4%	314
	Decreasess by budget item transfer	PH	68 193	-12,5%	77 904	-35,1%	120 005

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	264 610	5,2%	251 641	-2,1%	257 070
Increases		QV	21 626	66,8%	12 969	21,4%	10 687
Decreases		QW	176 885	0%	0	0%	16 117
	Decreasess by budget item transfer	QX	109 351	-58,7%	264 610	5,2%	251 640

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2010		31/12/2009		31/12/2008
	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

			31/12/2010		31/12/2009		31/12/2008
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	2 500	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	681 045	110,1%	324 100	273,2%	86 842
Increases		UB	70 074	-81,6%	380 230	47,1%	258 398
Decreases		UC	139 440	252,8%	39 526	38,1%	28 611
	Value at the end of period	UD	611 679	-10,2%	681 045	115,1%	316 629

Includes Total allocations

Operating	UE	65 775	-82,5%	376 779	45,8%	258 398
Financial	UG	4 298	24,6%	3 450	-53,8%	7 470
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	135 991	244,1%	39 526	190,4%	13 611
Financial	UH	3 450	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	15 000

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	3 450	0%	0	0%	15 000
Increases		TV	4 298	24,6%	3 450	0%	0
Decreases		TW	3 450	0%	0	0%	15 000
	Value at the end of period	TX	4 298	24,6%	3 450	0%	0

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	677 594	109,1%	324 100	351,1%	71 842
Increases		TY	65 775	-82,5%	376 779	45,8%	258 398
Decreases		TZ	135 991	244,1%	39 526	190,4%	13 611
	Value at the end of period	UA	607 378	-10,4%	677 594	114,0%	316 629

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	2 414 989	46,2%	1 651 738	-0,1%	1 653 525
1 year at most	VU	2 315 767	47,1%	1 574 062	1,5%	1 551 261
More than one year	VV	99 222	27,7%	77 676	-24,0%	102 264

State of loans

		31/12/2010		31/12/2009		31/12/2008
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	22 992	-0,1%	23 023	-0,1%	23 054
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	76 230	39,5%	54 653	-31,0%	79 210
Other claims customer	UX	2 036 554	41,2%	1 441 848	0,8%	1 429 862
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	3 609	0,0%	3 610	71,2%	2 109
Social Security and other social organizations	UZ	0	0%	4 921	0%	0
Income taxes	VM	1 333	-16,7%	1 600	0%	0
Value added tax	VB	111 851	398,3%	22 448	-49,7%	44 631
Other taxes and payments assimilated	VN	2 231	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	5 084
Accounts receivable (including claims relating to the operation of pension titles)	VR	68 026	45,6%	46 712	77,8%	26 273

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	92 161	74,1%	52 924	22,2%	43 299

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	3 717 291	-25,5%	4 990 267	9,4%	4 562 234
1 year at most		VZ2	3 681 836	88,3%	1 954 811	-56,8%	4 526 779
More than 1 year and 5 years at most		VZ3	35 455	-98,8%	3 035 456	8461,4%	35 455
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	3 491 876	-26,4%	4 741 357	8,7%	4 362 333
1 year at most		8B2	3 491 876	-26,4%	4 741 357	8,7%	4 362 333
More than 1 year and 5 years at most		8B3	3 491 876	-26,4%	4 741 357	0%	0
	Personnel and associated accounts (gross)	8C1	68 920	21,3%	56 810	22,2%	46 479
1 year at most		8C2	68 920	21,3%	56 810	22,2%	46 479
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	103 806	16,3%	89 289	6,0%	84 259
1 year at most		8D2	103 806	16,3%	89 289	6,0%	84 259
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	3 192	-89,5%	30 315	0%	0
1 year at most		VQ2	3 192	-89,5%	30 315	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	1 331	0%	0	0%	0
1 year at most		8J2	1 331	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	35 455	0,0%	35 456	0,0%	35 455
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	35 455	0,0%	35 456	0,0%	35 455
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	12 709	-65,7%	37 040	9,9%	33 708
1 year at most		8K2	12 709	-65,7%	37 040	9,9%	33 708
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	14	0%	14	0%	14

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		3,55	292,9%	-1,84	-345,3%	0,75	2,56	38,7%
Global Debt		392 days	-40,1%	654 days	39,1%	470 days	129 days	203,9%
Working Capital Fund overall net		123 days	174,1%	-166 days	-1283,3%	-12 days	69 days	78,3%
Financial independence		%	-	%	-	%	393,46%	-
More ratios
Solvability		27,49%	188,7%	-31%	-2284,6%	-1,30%	33,05%	-16,8%
Capacity debt futures		%	-	%	-	%	933,43%	-
Coverage of current assets by net working capital overall		21,03%	176,3%	-27,56%	-1034,2%	-2,43%	41,87%	-49,8%
General Liquidity		0,63	-22,2%	0,81	138,2%	0,34	0,57	10,5%
Restricted Liquidity		0,70	-37,5%	1,12	133,3%	0,48	0,94	-25,5%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		86 days	135,5%	-242 days	-236,1%	-72 days	28 days	207,1%
Treasury		27 days	-66,2%	80 days	23,1%	65 days	10 days	170,0%
Inventory turnover of goods		424 days	1,9%	416 days	5,6%	394 days	96 days	341,7%
Average length of credit granted to customers		223 days	13,8%	196 days	26,5%	155 days	44 days	406,8%
Average length of credit obtained suppliers		411 days	-35,5%	637 days	30,0%	490 days	57 days	621,1%
More ratios
Inventory turnover of raw materials in industrial enterprises		196 days	120,2%	89 days	58,9%	56 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		1126 days	28,1%	879 days	-	days	1226,50 days	-8,2%
Rotation tangible assets		1125,86%	28,1%	878,71%	-24,4%	1162,61%	1383,43%	-18,6%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		31,86%	1,2%	31,48%	-10,1%	35	32,60%	-2,3%
Profitability of the business		-14,90	46,7%	-27,93	-63,6%	-17,07	3,34%	-546,1%
Net profit		-14,45%	65,2%	-41,58%	-103,8%	-20,40%	1,78%	-911,8%
More ratios
Growth rate of turnover (excluding VAT)		24,31%	213,5%	-21,41%	-522,3%	5,07%	0,22%	10950,0%
Rates integration		10,46%	310,2%	2,55%	-69,8%	8,43%	20,92%	-50,0%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		219,76%	-79,4%	1065,64%	294,7%	270,02%	68,14%	222,5%
Weight interests		1,38	102,9%	0,68%	-31,3%	0,99%	0,26%	430,8%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		-17,32%	58,2%	-41,40%	-106,1%	-20,09%	2,66%	-751,1%
Rates of economic profitability		-35%	-153,0%	66%	-97,3%	2456%	12%	-391,7%
Financial profitability		1411033%	217,4%	-1202215%	-1911,6%	-59763%	41063%	3336,3%
Return on investment		-30,87%	-132,1%	96,31%	-96,5%	2791,29%	9,20%	-435,5%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	3 415 826	24,3%	2 747 761	-21,4%	3 496 539	342 950 €	896,0%

Sales of goods	3 325 958	23,0%	2 705 016	-22,3%	3 481 694
- Purchase of goods	2 743 959	84,9%	1 484 151	-41,6%	2 543 529
+/- Stock of goods variation	-506 135	-242,2%	356 001	224,6%	-285 654
Trading margin	1 088 134 €	25,8%	864 864 €	-29,3%	1 223 819 €	93 667 €	1061,7%
	31,86 % CA	1,2%	31,48 % CA	-10,1%	35,00 % CA	33,72 % CA	-5,5%

Sale of goods produced	89 868	110,2%	42 745	187,9%	14 845
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	89 868 €	110,2%	42 745 €	187,9%	14 845 €	7 572 €	1086,8%
	2,63 % CA	68,6%	1,56 % CA	271,4%	0,42 % CA	2,45 % CA	7,3%

Trading margin	1 088 134	25,8%	864 864	-29,3%	1 223 819	93 667	1061,7%
+ Period Production	89 868	110,2%	42 745	187,9%	14 845	7 572	1086,8%
- Purchase of raw materials	52 521	5,4%	49 852	-18,6%	61 230
+/- Change in stocks of raw materiels	-91 602	-1364,0%	7 247	126,1%	-27 774
- Other external purchases and charges	859 835	10,2%	780 355	-14,3%	910 433
Added value	357 248 €	409,2%	70 155 €	-76,2%	294 775 €	79 787,50 €	347,7%
	10,46 % CA	310,2%	2,55 % CA	-69,8%	8,43 % CA	20,92 % CA	-50,0%

Added value	357 248 €	409,2%	70 155 €	-76,2%	294 775 €	79 787,50 €	347,7%
+ Operating grants	0	0%	2 000	0%	0
- Tax, duty and similar payments	81 050	-11,9%	92 015	-3,9%	95 759
- Personal charges	785 100	5,0%	747 602	-6,1%	795 962
Gross operating surplus	-508 902 €	33,7%	-767 462 €	-28,6%	-596 946 €	9 777 €	-5305,1%
	-14,90 % CA	46,7%	-27,93 % CA	-63,6%	-17,07 % CA	3,34 % CA	-546,1%

Gross operating surplus	-508 902 €	33,7%	-767 462 €	-28,6%	-596 946 €	9 777 €	-5305,1%
+ Release of reserves and provisions	137 965	249,0%	39 526	57,4%	25 112
+ Other operating income	15 966	35,4%	11 792	-61,4%	30 570
- Depreciation/Amortisation	102 757	-74,7%	405 555	39,6%	290 552
- Other charges	19 120	-40,6%	32 181	-30,8%	46 488
Operating result	-476 848 €	58,7%	-1 153 880 €	-31,4%	-878 304 €	7 217,50 €	-6706,8%
	-13,96 % CA	66,8%	-41,99 % CA	-67,2%	-25,12 % CA	2,38 % CA	-686,6%

Operating result	-476 848 €	58,7%	-1 153 880 €	-31,4%	-878 304 €	7 217,50 €	-6706,8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	29 435	-34,7%	45 099	-77,2%	197 840
- Financial charges	47 187	152,2%	18 712	-46,2%	34 750
Pre-tax result	-494 600 €	56,1%	-1 127 493 €	-57,6%	-715 214 €	6 235,50 €	-8032,0%
	-14,48 % CA	64,7%	-41,03 % CA	-100,6%	-20,45 % CA	1,99 % CA	-827,6%

Extraordinary income	0	0%	269	-98,4%	17 160	01	0%
- Extraordinary charges	485	-97,1%	16 827	10,9%	15 176
Extraordinary result	-485 €	97,1%	-16 558 €	-934,6%	1 984 €	0 €	0%
	-0,01 % CA	98,3%	-0,60 % CA	-1100%	0 % CA	0 % CA	0%

Pre-tax result	-494 600 €	56,1%	-1 127 493 €	-57,6%	-715 214 €	6 235,50 €	-8032,0%
Extraordinary result	-485 €	97,1%	-16 558 €	-934,6%	1 984 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-1 333	16,7%	-1 600	0%	0
Net result	-493 752 €	56,8%	-1 142 451 €	-60,2%	-713 230 €	5 998 €	-8331,9%
	-14,45 % CA	65,2%	-41,58 % CA	-103,8%	-20,40 % CA	1,77 % CA	-916,4%

ADDITIONAL INFORMATION

No social security and tax office preferential right to date

Trends

Profitability

Liquidity

Net worth

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 decrease of the current ratio over the past two years is more than 20%

The return on total assets employed is negative

The debtor days are 248.55

The liquidity acid test is less than 65%

The sales to current assets ratio is 0,7

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

The ratio total assets to total liabilities is 1,38

The tangible fixed assets are 194,046 €

The company is 59 years old

Industry code with low risk rating

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

Linkages

Company Name	SIREN	Parts	Last account published
PRANDA JEWELRY PUBLIC CO. LTD.	-	-	-
H. GRINGOIRE	542030630	100%	31/12/2010
PRIMAGOLD INTERNATIONAL CO., LTD.	-	100%	-
PRANDA NORTH AMERICA, INC	-	100%	-
PRANDIAL LIMITED	04998447	100%	31/12/2012
PDU (UK) LIMITED	05832075	100%	31/12/2012
PRANDA TRADING (SHENZHEN) LIMITED	-	100%	-
PRANDA SINGAPORE PTE. LIMITED	-	100%	-
PRANDA ACCEPTANCE SDN. BHD	-	100%	-
PRANDA & KROLL GMBH & CO. KG	HRA 503986	51%	31/12/2012
KSV BRAND GMBH	HRB 505627	51%	31/12/2011
CRYSTALINE CO., LTD	-	96%	-
PRANDA VIETNAM CO., LTD.	-	100%	-
GUANGZHOU PANGDA ZHUBAO SHOUSHI YOUXIAN ...	-	100%	-
PRANDA JEWELRY PRIVATE LIMITED	-	51%	-
P.T. SUMBERKREASI CIPTALOGAM	-	50%	-
KZ - PRANDA CO., LTD.	-	40%	-
PRANDA LODGING CO., LTD.	-	83%	-

Linkages

Company Name	SIREN	Last account	Turnover
PRANDA JEWELRY	75680	31/12/2012	95 515 297 €
PRANDA U.K. LIMITED	02858435	31/12/2012	2 360 841 £
PRANDA & KROLL VERWALTUNGS-GMBH	HRB 505842	31/12/2011	-
BEETLE LIMITED	04516186	31/12/2012	-
PROVERB 28 LIMITED	07844270	30/09/2012	-
ROWBELL LIMITED	04044786	30/09/2012	-
DONAMOUNT LIMITED	03851029	31/12/2012	-
BIRCHLEAF LIMITED	05503027	31/12/2012	-
GLASSEL (UK) LIMITED	05820745	31/12/2012	-
GOSFORD (UK) LIMITED	05820746	31/12/2012	-
CRAWFISH LIMITED	04516078	31/12/2012	-
CONJUNCTION LIMITED	04569025	31/12/2012	-
AUTARCH LIMITED	04669897	31/12/2012	-
SNOWFLAKE 145 LIMITED	04800685	31/12/2012	-
THATCHER LIMITED	05065219	31/12/2012	-
GRANDEUR LIMITED	05159714	31/12/2012	-
ORCHARD COURT (UK) LIMITED	05828288	31/12/2012	-
ROWBELL PROPERTIES LIMITED	06711903	30/09/2012	-
ROWBELL HOLDINGS LIMITED	06713405	30/09/2012	-
ROWBELL LEISURE LIMITED	06820717	30/09/2012	-
ROWBELL PR LIMITED	07992937	30/09/2012	-
ROWBELL VENTURES LIMITED	07999921	30/09/2012	-
BOWERBIRD HOLDINGS LTD	-	-	-
CREATION TRUST	-	-	-
DUVEAUX LTD	-	-	-
GLASSEL PROPERTIES LTD	-	-	-
GOSFORD PROPERTIES HOLDINGS LTD	-	-	-
IMPULSE TRUST	-	-	-
LUISSE LTD	-	-	-
LYCIANDA LTD	-	-	-
MARINER INVESTMENT HOLDINGS LTD	-	-	-
MATLOCQUE HOLDINGS LTD	-	-	-
ORCHARD HOLDINGS GROUP BVI	-	-	-
PRANDA JEWELLERY PUBLIC CO. LTD.	-	-	-
RICHER HOLDINGS LTD	-	-	-
WEIGHBRIDGE TRUST LTD	-	-	-
WEYSOM LTD	-	-	-

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
14/04/2013	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 991 - 542 030 630 RCS Paris. H. GRINGOIRE. Forme : Société à responsabilité limitée (à associé unique). Administration : Commissaire aux comptes titulaire partant : SOCIETE ILE DE FRANCE EXPERTISE ET AUDIT - I F E A, nomination du Commissaire aux comptes titulaire : BAKER TILLY AUDALIAN, Commissaire aux comptes suppléant partant : SOCIETE RAYMOND BAUMANN & ASSOCIES, nomination du Commissaire aux comptes suppléant : Rabefaniraka, Christian. Capital : 5000000 EUR. Activité : . Adresse du siège social : 79 rue de Turbigo, 75003 Paris. Commentaires : modification survenue sur l'administration.
20/09/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 12826 - 542030630 RCS. H. GRINGOIRE. Forme : Société à responsabilité limitée. Adresse : 79 rue de Turbigo 75003 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
28/01/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1149 - 542 030 630 RCS Paris. H. GRINGOIRE. Forme : Société à responsabilité limitée. Capital : 5000000 EUR. Activité : . Adresse du siège social : 79 rue de Turbigo, 75003 Paris. Commentaires : modification survenue sur le capital (augmentation).
05/01/2011	JAL	Modification of the share capital
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 16/11/2010 La société : 542030630 - H. GRINGOIRE, 79 RUE DE TURBIGO, 75003 PARIS 3 a subi une augmentation de son capital social désormais de 5 000 000 € Date d'effet : 16/11/2010
06/12/2010	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 9222 - 542030630 RCS. H. GRINGOIRE. Forme : Société à responsabilité limitée. Adresse : 79 R DE TURBIGO 75003 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
27/08/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8211 - 542030630 RCS. H. GRINGOIRE. Forme : Société à responsabilité limitée. Adresse : 79 rue de Turbigo 75003 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
07/04/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8712 - 542030630 RCS. H. GRINGOIRE. Forme : Société à responsabilité limitée. Adresse : 79 rue de Turbigo 75003 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2006.
26/08/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1926 - 542 030 630 RCS Paris. H. GRINGOIRE. Forme : Société à responsabilité limitée. Administration : Gérant partant : Berberich-Betschart Dite Betschart-Berberich Francoise Jeanne, Marie Magdeleine, nomination du Gérant : Le Dour, Yvan. Capital : 1893000 EUR. Activité : La fabrication l'achat et la vente en gros et au détail de bijoux perles pierres précieuses et autres bijoux de même nature et plus spécialement l'exploitation d'un fonds de commerce de commissionnaire en bijouterie la création de toutes succursales et leur exploitation. Adresse du siège social : 79 rue de Turbigo, 75003 Paris. Commentaires : modification survenue sur l'administration.
15/04/2007	Bodacc C	Avis de dépôt des comptes
6871 - RCS Paris B 542 030 630. RC 54-B 3063. H. GRINGOIRE. Forme: S.A.R.L.. Adresse du siège social: 79, R de Turbigo,Paris, 75003 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2000.
15/04/2007	Bodacc C	Avis de dépôt des comptes
6872 - RCS Paris B 542 030 630. RC 54-B 3063. H. GRINGOIRE. Forme: S.A.R.L.. Adresse du siège social: 79, R de Turbigo,Paris, 75003 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2001.
16/01/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 542030630 RC 54-B 3063 H. GRINGOIRE. Forme : S.A.R.L. Capital : 1 893 000 euros. Commentaires : modification survenue sur le capital (augmentation).
07/02/1999	Bodacc B	Modifications et mutations diverses
RCS Paris B 542 030 630 RC 54-B 3063 H. GRINGOIRE. Forme : S.A.R.L. Capital : 12 420 000 F. Commentaires : modification survenue sur le capital (augmentation).
23/08/1997	Bodacc B	Modifications et mutations diverses
RCS Paris B 542 030 630 RC 54-B 3063 H. GRINGOIRE. Forme : S.A.R.L. Capital : 7 720 000 F. Commentaires : modification survenue sur le capital (diminution).
18/08/1997	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 542 030 630 RC RC 54- B 3063 H. GRINGOIRE. Forme : S.A.R.L. Capital : 10 160 000 F. Commentaires : modification survenue sur le capital ( augmentation).
12/10/1995	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 542 030 630 RC RC 54- B 3063 H. GRINGOIRE. Forme : S.A.R.L. Administration : gérant : BERBERICH- BETSCHART dite BETSCHART-BERBERICH ( Françoise, Jeanne, Marie, Magdeleine). Commissaire aux comptes titulaire : SOCIETE ILE-DE-FRANCE EXPERTISE ET AUDIT - I.F.E.A. Commissaire aux comptes suppléant : SOCIETE RAYMOND BAUMANN ET ASSOCIES. Commentaires : modification survenue sur l' administration.

Company events history

Date	Description
19/10/2013	Update Rating
19/10/2013	Update Limit
04/10/2013	New ultimate parent
04/10/2013	New parent detected
13/05/2013	Updated articles of association
13/05/2013	Amendment
22/04/2013	Other modification of Establishment
14/04/2013	Bodacc B: Various editing or changing
29/03/2013	New auditor
29/03/2013	Amendment
20/09/2011	Bodacc C : Deposit accounts notice
03/09/2011	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
13/01/2011	Amendment
13/01/2011	Updated articles of association
13/01/2011	Capital increase
31/12/2010	New accounts available
23/12/2010	Collection of preferential rights activated for this company
06/12/2010	Bodacc C : Deposit accounts notice
16/11/2010	Legal Gazette: Modification of the share capital
16/11/2010	Other modification of Establishment
31/12/2009	New accounts available
27/08/2009	Bodacc C : Deposit accounts notice
07/04/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
26/08/2008	New Bodacc B ads detected
26/08/2008	Bodacc B: Various editing or changing
29/07/2008	New manager
29/07/2008	Private document
29/07/2008	Nomination/démission des organes de gestion
29/07/2008	Appointment/resignation of company officers
29/07/2008	Acte modificatif
29/07/2008	Continuation of business despite loss of equity
29/07/2008	Amendment
06/02/2007	Acte modificatif
06/02/2007	Updated articles of association
06/02/2007	Minutes of general meeting of shareholders
06/02/2007	Private document
06/02/2007	Reconstitution of net assets
06/02/2007	Reconstitution de l'Actif Net
06/02/2007	Capital reduction
06/02/2007	Capital increase
06/02/2007	Statuts mis à jour
31/12/2006	New accounts available
03/01/2002	Acte modificatif
03/01/2002	Statuts mis à jour
03/01/2002	PV d'Assemblée
03/01/2002	Acte sous seing privé
03/01/2002	Réduction de Capital
03/01/2002	Conversion du Capital Social en Euros
25/01/1999	Acte sous seing privé
25/01/1999	Acte modificatif
25/01/1999	Augmentation de Capital
25/01/1999	Statuts mis à jour
25/01/1999	PV d'Assemblée
05/08/1997	Acte sous seing privé
05/08/1997	Réduction de Capital
05/08/1997	Augmentation de Capital
05/08/1997	Acte modificatif
05/08/1997	Statuts mis à jour
05/08/1997	PV d'Assemblée
04/08/1997	Acte modificatif
04/08/1997	Statuts mis à jour
04/08/1997	Acte sous seing privé
04/08/1997	Augmentation de Capital
04/08/1997	PV d'Assemblée
27/09/1995	PV d'Assemblée
27/09/1995	Changement de Commissaire aux Comptes
27/09/1995	Acte modificatif
14/09/1994	Acte sous seing privé
14/09/1994	Acte modificatif
14/09/1994	Statuts mis à jour
14/09/1994	Cession de parts
14/09/1994	PV d'Assemblée
14/09/1994	Augmentation de Capital
19/10/1993	Changement de date de clôture
19/10/1993	Changement de dénomination sociale
19/10/1993	Acte modificatif
19/10/1993	Statuts mis à jour
19/10/1993	PV d'Assemblée
19/10/1993	Déclaration de conformité
21/09/1992	Cession de parts
21/09/1992	Changement de Gérant
21/09/1992	Statuts mis à jour
21/09/1992	PV d'Assemblée
21/09/1992	Nomination/démission des organes de gestion
21/09/1992	Acte modificatif
21/09/1992	Déclaration de conformité
21/09/1992	Acte sous seing privé

Establishment events history

Date	Description
22/04/2013	Modification of Head office
19/10/2012	Update Limit
19/10/2012	Update Rating
06/03/2012	Update Rating
12/11/2011	Update Rating
03/09/2011	Update Limit
03/09/2011	Update Rating
28/06/2011	Update of phone numbers
30/11/2010	Update Rating
27/07/2009	Update Rating
05/03/2009	Update Rating
11/09/2008	Update Limit
11/09/2008	Update Rating
16/12/2007	Update Limit
15/06/2007	Update of phone numbers

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 58.48
UK Pound	1	Rs. 98.67
Euro	1	Rs. 79.80

INFORMATION DETAILS

Report Prepared by :

DPT

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.