MIRA INFORM REPORT

Report Date :

29.05.2014

IDENTIFICATION DETAILS

Name :	VEOLIA PROPRETE FRANCE RECYCLING
Registered Office :	Veolia Proprete France Recycling, 30 Rue Proudhon, Saint Denis 93210 La Plaine St Denis
Country :	France
Financials (as on) :	31.12.2008
Date of Incorporation :	August 1993
Legal Form :	Simplified joint stock company
Line of Business :	Wholesaler (intercompany trade) of waste and discharge fault © © breakage (4677Z)
No of Employees :	100 to 199 employees

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
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 (30.09.2013)	Current Rating (01.12.2013)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	D

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds

Source : CIA

company summary

		EUR VAT Number	FR05392164919
Activity (APE)	Wholesaler (intercompany trade) of waste and discharge fault © © breakage (4677Z)	Legal form	Simplified joint stock company
Phone	05 56 32 32 16	RCS Registration	RCS Bobigny 9 392 164 919
Fax	05 56 86 32 10	Share capital	160,000 Euros
Address	VEOLIA PROPRETE FRANCE RECYCLING 30 RUE PROUDHON SAINT DENIS 93210 LA PLAINE ST DENIS	Incorporated Date	08/1993
Nationality	France	Status	Liquidation

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	8
	Total number of Invoices paid within or up to 30 days after the due date	8
	Total number of Invoices paid more than 30 days after the due date	0
	Total number of Invoices currently outstanding where the due date has not yet been reached	0
	Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

Current Directors

2

Trading to Date	12/31/2008	12/31/2007	12/31/2006
Turnover	140,617,424 €	111,629,168 €	73,467,150 €
Gross Operating Surplus	-3,66 % Turnover	1,21 % Turnover	-0,33 % Turnover
Shareholders’ equity	-3,833,013 €	1,127,154 €	589,447 €
Net result	-4,460,167 €	587,707 €	61,494 €
Employees	100 to 199 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Wholesaler (intercompany trade) of waste and discharge fault © © breakage (4677Z)
RCS Registration	RCS Bobigny 9 392 164 919	Share capital	160,000 Euros
Registration Court	Bobigny (93)	Legal form	Simplified joint stock company
Court Registry Number	19 9 3B02666	EUR VAT Number	FR05392164919
Incorporation Date	08/1993	Formation Date	07/1993
Deregistration Date	08/01/2010	Last account Date	31/12/2008
Nationality	France

Establishment details

Activity (APE)	Wholesaler (intercompany trade) of waste and discharge fault © © breakage (4677Z)	Business Pages FT®	PAPIERS (GROS)
Postal Address	VEOLIA PROPRETE FRANCE RECYCLING 30 RUE PROUDHON SAINT DENIS 93210 LA PLAINE ST DENIS	Trading Address	30 RUE PROUDHON 93210 SAINT DENIS
Telephone	05 56 32 32 16
Fax	05 56 86 32 10

Type	Head office	Status	Liquidation
Formation Date	07/1993	Reason for formation	Formation
Closure Date	03/11/2009	Reason for closure	No information
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Seine-Saint-Denis (93)	Region	Ile-de-France
District	3	Area	98
City	SAINT DENIS	Size of urban area	Paris conglomeration

Other establishments

Branches	0 branch entities in this company
Head office	> VEOLIA PROPRETE FRANCE RECYCLING <<<  - Commerce de gros (commerce interentreprises) de déchets et débris (4677Z)  in SAINT DENIS  (93210)
Secondary establishments	>  VEOLIA PROPRETE FRANCE RECYCLING  - Commerce de gros (commerce interentreprises) de déchets et débris (4677Z)  in ROUEN  (76000) >  VEOLIA PROPRETE FRANCE RECYCLING  - Commerce de gros (commerce interentreprises) de déchets et débris (4677Z)  in AUBEVOYE  (27940) >  VEOLIA PROPRETE FRANCE RECYCLING  - Commerce de gros (commerce interentreprises) de déchets et débris (4677Z)  in NANTERRE  (92000)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce 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

100 to 199 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2008	31/12/2007	31/12/2006
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	28/09/2009	-	-
Activity Code	4677Z	4677Z	4677Z
Employees	0	0	108

Active account

Annual Accounts	31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	4 570 388	13,0%	4 044 567	12,0%	3 609 894	117 244,50	3798,2%
- Intangible assets	774 862	59,2%	486 765	-27,5%	671 148	2 278,50	33907,5%
- Tangible assets	2 419 853	17,9%	2 051 804	41,3%	1 452 204	67 444	3487,9%
- Financial assets	1 461 301	-3,0%	1 505 998	1,3%	1 486 542	1 687	86521,3%
Net current assets	32 047 351	-19,0%	39 568 320	44,1%	27 464 657	353 867	8956,3%
- Stocks	283 651	-48,7%	552 407	163,8%	209 398	84 403,50	236,1%
- Advanced payments	0	-19,0%	0	0%	0	0	0%
- Receivables	31 270 070	-13,9%	36 297 455	35,2%	26 841 068	74 825	41690,9%
- Securities and cash	493 630	-81,8%	2 718 458	556,3%	414 191	82 309,50	499,7%
- Prepaid expenses	-	-	-	-	-	1 815	-
Accounts of regularization	0	0%	98 770	0%	0	0	0%
Total Assets	36 617 739	-16,2%	43 711 657	40,7%	31 074 551	525 818,50	6864,0%

Passive Account

Annual Accounts	31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Shareholders' equity	-3 833 013	-440,1%	1 127 154	91,2%	589 447	217 084,50	-1865,7%
Share capital	160 000	0%	160 000	0%	160 000	31 500	407,9%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1 229 698	-0,1%	1 230 854	28,7%	956 272	0	0%
Liabilities	39 179 897	-5,1%	41 303 398	39,9%	29 528 832	233 634,50	16669,7%
- Financial liabilities	6 013 846	14,9%	5 233 356	-13,4%	6 046 172	52 281,50	11402,8%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	29 953 966	-7,7%	32 461 502	60,3%	20 254 761	60 113,50	49729,0%
- Tax and social liabilities	2 540 945	-23,8%	3 333 217	13,2%	2 943 458	72 641	3397,9%
- Other debts and fixed assets liabilities	712 297	118,8%	325 574	14,5%	284 441	3 168	22384,1%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	36 617 739	-16,2%	43 711 657	40,7%	31 074 551	525 818	6864,0%

Results

Annual Accounts	31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Sales of Goods	140 930 002	25,6%	112 169 216	48,5%	75 544 400	904 565	15479,9%
Net turnover	140 617 424	26,0%	111 629 168	51,9%	73 467 150	882 325	15837,1%
- of which net export turnover	62 922 317	26,2%	49 851 854	49,0%	33 465 004	0	0%
Operating charges	146 794 644	32,5%	110 812 986	47,7%	75 026 287	872 578,50	16723,1%
Operating profit/loss	-5 864 642	-532,4%	1 356 230	161,8%	518 113	36 199	-16301,1%
Financial income	1 160 041	60,0%	725 207	93,0%	375 698	337,50	343615,9%
Financial charges	478 627	-25,5%	642 519	168,6%	239 175	2 388	19943,0%
Financial profit/loss	681 414	724,1%	82 688	-39,4%	136 523	-818	83402,4%
Pretax net operating income	-5 183 228	-460,2%	1 438 918	119,8%	654 636	33 785,50	-15441,6%
Extraordinary income	1 004 840	405,9%	198 641	49684,7%	399	1 785	56193,6%
Extraordinary charges	281 779	-70,5%	953 997	127,6%	419 223	1 086,50	25834,6%
Extraordinary profit/loss	723 061	195,7%	-755 356	-80,4%	-418 824	38	1902692,1%
Net result	-4 460 167	-858,9%	587 707	855,7%	61 494	30 838,50	-14563,0%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2008	31/12/2007	31/12/2006
Months	12	12	12

Accounts – Active

Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2008		31/12/2007		31/12/2006
Grand Total (I to VI)	Net	36 617 739	-16,2%	43 711 657	40,7%	31 074 551
Gross	CO	40 413 974	-13,8%	46 882 750	39,0%	33 734 225
Amortisation	1A	3 796 235	19,7%	3 171 093	19,2%	2 659 674

Non declared distributed capital (I)

		31/12/2008		31/12/2007		31/12/2006
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

			31/12/2008		31/12/2007		31/12/2006
	Total Active fixed asset (II)	Net	4 570 388	13,0%	4 044 567	12,0%	3 609 894
	Gross	BJ	7 420 275	17,3%	6 324 751	16,4%	5 434 655
	Amortisation	BK	2 849 887	25,0%	2 280 184	25,0%	1 824 761

Intangilble fixed assets

			31/12/2008		31/12/2007		31/12/2006
	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	287 239	-5,7%	304 739	-5,4%	322 239
	Gross	AH	372 867	0%	372 867	0%	372 867
	Amortisation	AI	85 628	25,7%	68 128	34,6%	50 628
	Other intangible fixed assets	Net	284 695	191,5%	97 654	107,2%	47 119
	Gross	AJ	647 713	63,3%	396 666	19,3%	332 386
	Amortisation	AK	363 018	21,4%	299 012	4,8%	285 267
	Pre-payments and downpayments	Net	117 300	39,0%	84 372	-72,0%	301 790
	Gross	AL	117 300	39,0%	84 372	-72,0%	301 790
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	689 234	41,6%	486 765	-27,5%	671 148

Tangilble fixed assets

			31/12/2008		31/12/2007		31/12/2006
	Lands	Net	373	-42,3%	647	-29,8%	921
	Gross	AN	1 886	0%	1 886	0%	1 886
	Amortisation	AO	1 513	22,1%	1 239	28,4%	965
	Buildings	Net	539 703	13,3%	476 344	-0,7%	479 717
	Gross	AP	826 402	24,2%	665 216	13,4%	586 688
	Amortisation	AQ	286 699	51,8%	188 872	76,6%	106 971
	Plant	Net	1 226 873	17,4%	1 045 390	184,5%	367 438
	Gross	AR	1 962 090	28,6%	1 525 444	132,3%	656 602
	Amortisation	AS	735 217	53,2%	480 054	66,0%	289 164
	Other tangible fixed assets	Net	577 792	11,6%	517 899	-11,3%	584 128
	Gross	AT	1 945 062	11,1%	1 750 236	5,1%	1 665 352
	Amortisation	AU	1 367 270	10,9%	1 232 337	14,0%	1 081 224
	Fixed assets in construction	Net	75 112	551,8%	11 524	0%	0
	Gross	AV	75 112	551,8%	11 524	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	20 000
	Gross	AX	0	0%	0	0%	20 000
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	2 419 853		2 051 804		1 452 204

Financial assets

			31/12/2008		31/12/2007		31/12/2006
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	1 326 240	-3,5%	1 374 321	0%	1 374 321
	Gross	CU	1 336 782	-3,5%	1 384 863	0%	1 384 863
	Amortisation	CV	10 542	0%	10 542	0%	10 542
	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	135 061	2,6%	131 677	17,3%	112 221
	Gross	BH	135 061	2,6%	131 677	17,3%	112 221
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		1 461 301		1 505 998		1 486 542

Current Assets (III)

			31/12/2008		31/12/2007		31/12/2006
	Total Assets	Net	32 047 351	-19,0%	39 568 320	44,1%	27 464 657
	Gross	CJ	32 993 699	-18,5%	40 459 229	43,0%	28 299 570
	Amortisation	CK	946 348	6,2%	890 909	6,7%	834 913

Stocks

			31/12/2008		31/12/2007		31/12/2006
	Raw materials	Net	18 719	-2,5%	19 193	-20,0%	23 977
	Gross	BL	18 719	-2,5%	19 193	-20,0%	23 977
	Amortisation	BM	0	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	264 932	-50,3%	533 214	187,6%	185 421
	Gross	BT	264 932	-50,3%	533 214	187,6%	185 421
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	283 651	-48,7%	552 407	163,8%	209 398

Advance payments to suppliers

			31/12/2008		31/12/2007		31/12/2006
	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

			31/12/2008		31/12/2007		31/12/2006
	Trade accounts receivable	Net	28 289 859	1,9%	27 768 182	49,8%	18 531 137
	Gross	BX	28 610 507	2,0%	28 062 797	49,2%	18 804 641
	Amortisation	BY	320 648	8,8%	294 615	7,7%	273 504
	Other debtors	Net	2 774 096	-66,8%	8 343 691	3,0%	8 097 922
	Gross	BZ	3 399 796	-62,0%	8 939 985	3,2%	8 659 331
	Amortisation	CA	625 700	4,9%	596 294	6,2%	561 409
	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	31 063 955	-14,0%	36 111 873	35,6%	26 629 05

Divers

			31/12/2008		31/12/2007		31/12/2006
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	493 630	-81,8%	2 718 458	556,3%	414 191
	Gross	CF	493 630	-81,8%	2 718 458	556,3%	414 191
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	493 630	-81,8%	2 718 458	556,3%	414 191

Prepaid expenses

			31/12/2008		31/12/2007		31/12/2006
	Prepaid expenses	Net	206 115	11,1%	185 582	-12,5%	212 009
	Gross	CH	206 115	11,1%	185 582	-12,5%	212 009
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2008		31/12/2007		31/12/2006
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	0	0%	98 770	0%	0
Gross		0	-	-	-	-

References

		31/12/2008		31/12/2007		31/12/2006
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)

		31/12/2008		31/12/2007		31/12/2006
Grand Total (I to V)	EE	36 617 739	-16,2%	43 711 657	40,7%	31 074 551

Shareholder Equity (I)

			31/12/2008		31/12/2007		31/12/2006
	Total shareholders' equity (Total I)	DL	-3 833 013	-440,1%	1 127 154	91,2%	589 447
	Equity and shareholders' equity	DA	160 000	0%	160 000	0%	160 000
	Issue and merger premiums	DB	7 718	0%	7 718	0%	7 718
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	16 000	0%	16 000	0%	16 000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	248 889	0%	248 889	0%	248 889
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	194 547	82,1%	106 840	12,1%	95 346
	Profit or loss for the period	DI	-4 460 167	-858,9%	587 707	855,7%	61 494
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2008		31/12/2007		31/12/2006
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)

			31/12/2008		31/12/2007		31/12/2006
	Total provisions for risks and charges (Total III)	DR	1 229 698	-0,1%	1 230 854	28,7%	956 272
	Risk provisions	DP	592 545	1,1%	585 969	138,0%	246 225
	Reserves for charges	DQ	637 153	-1,2%	644 885	-9,2%	710 047

Liabilities (IV)

			31/12/2008		31/12/2007		31/12/2006
	Total Liabilities (Total IV)	EC	39 179 897	-5,1%	41 303 398	39,9%	29 528 832
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	1 035 534	0%	0	0%	59 526
	Sundry loans and financial liabilities	DV	4 978 312	-4,9%	5 233 356	-12,6%	5 986 646
	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	29 953 966	-7,7%	32 461 502	60,3%	20 254 761
	Tax and social security liabilities	DY	2 540 945	-23,8%	3 333 217	13,2%	2 943 458
	Fixed asset liabilities	DZ	375 841	229,9%	113 913	-10,5%	127 290
	Other debts	EA	295 299	82,9%	161 410	2,7%	157 151

Translation loss (V)

		31/12/2008		31/12/2007		31/12/2006
Translation loss (Total V)	ED	41 157	-18,1%	50 251	0%	0

Equalization accounts

		31/12/2008		31/12/2007		31/12/2006
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2008		31/12/2007		31/12/2006
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	38 986 313	-5,2%	41 135 566	40,0%	29 392 667
Of which current bank facilities	EH	1 035 534	0%	0	0%	59 526

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)

		31/12/2008		31/12/2007		31/12/2006
Operating result (Total I-II)	GG	-5 864 642	-532,4%	1 356 230	161,8%	518 113

2 - Financial result (V - VI)

		31/12/2008		31/12/2007		31/12/2006
Financial result (Total V-VI)	GV	681 414	724,1%	82 688	-39,4%	136 523

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

		31/12/2008		31/12/2007		31/12/2006
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-5 183 228	-460,2%	1 438 918	119,8%	654 636

4 - Extraordinary result (VII-VIII)

		31/12/2008		31/12/2007		31/12/2006
Extraordinary result (Total VII-VIII)	HI	723 061	195,7%	-755 356	-80,4%	-418 824

Profit or loss

		31/12/2008		31/12/2007		31/12/2006
Profit or loss	HN	-4 460 167	-858,9%	587 707	855,7%	61 494

Total Income (I+III+V+VII)

		31/12/2008		31/12/2007		31/12/2006
Total Income (I+III+V+VII)	HL	143 094 883	26,5%	113 093 064	49,0%	75 920 497

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

		31/12/2008		31/12/2007		31/12/2006
Total charges (Total II+IV+VI+VIII+IX+X)	HM	147 555 050	31,2%	112 505 357	48,3%	75 859 003

Operating income (I)

		31/12/2008		31/12/2007		31/12/2006
Total operating income (Total I)	FR	140 930 002	25,6%	112 169 216	48,5%	75 544 400

Operating income (details)

			31/12/2008		31/12/2007		31/12/2006
	Sale of goods for resale	FC	132 714 952	25,4%	105 860 062	54,6%	68 472 841
	France	FA	71 884 373	27,2%	56 492 215	59,8%	35 355 556
	Export	FB	60 830 579	23,2%	49 367 847	49,1%	33 117 286
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	7 902 472	37,0%	5 769 106	15,5%	4 994 309
	France	FG	5 810 734	9,9%	5 285 099	13,7%	4 646 590
	Export	FH	2 091 738	332,2%	484 007	39,2%	347 719
	Net turnover	FL	140 617 424	26,0%	111 629 168	51,9%	73 467 150
	France	FJ	77 695 107	25,8%	61 777 314	54,4%	40 002 146
	Export	FK	62 922 317	26,2%	49 851 854	49,0%	33 465 004
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	7 307	260,8%	2 025	-47,4%	3 852
	Release of reserves and provisions	FP	64 623	-69,3%	210 810	-76,4%	893 921
	Other income	FQ	240 648	-26,5%	327 213	-72,3%	1 179 477

Operating charges (II)

		31/12/2008		31/12/2007		31/12/2006
Total operating charges (Total II)	GF	146 794 644	32,5%	110 812 986	47,7%	75 026 287

Exploitation charges

		31/12/2008		31/12/2007		31/12/2006
Purchase of goods for resale	FS	117 427 557	33,0%	88 301 274	57,6%	56 014 771
Change in stocks of goods for resale	FT	268 282	177,1%	-347 793	-546,7%	-53 781
Purchase of raw materials	FU	338 023	20,4%	280 753	4,9%	267 765
Change in stocks of raw materials	FV	474	-90,1%	4 784	2468,3%	-202
Other external purchases and charges	FW	18 848 619	36,4%	13 821 500	38,9%	9 951 154
Tax, duty and similar payments	FX	782 816	12,5%	695 923	5,9%	657 397
Payroll	FY	5 606 339	11,1%	5 046 402	9,8%	4 594 006
Social security costs	FZ	2 499 681	0,8%	2 480 436	8,7%	2 282 586

Depreciation

		31/12/2008		31/12/2007		31/12/2006
Depreciation of fixed assets	GA	615 927	31,5%	468 467	17,9%	397 501
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	29 400	39,3%	21 111	-85,1%	142 073
Provisions for risks and charges	GD	339 467	1926,8%	16 749	-91,1%	188 921

Other charges

		31/12/2008		31/12/2007		31/12/2006
Other charges	GE	38 059	62,8%	23 380	-96,0%	584 096

Operating charges (III-IV)

		31/12/2008		31/12/2007		31/12/2006
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)

			31/12/2008		31/12/2007		31/12/2006
	Total financial income (Total V)	GP	1 160 041	60,0%	725 207	93,0%	375 698
	Share financial income	GJ	800 000	72,0%	465 000	111,4%	220 000
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	261 086	17,9%	221 440	55,6%	142 276
	Released provisions and transferred charges	GM	98 770	0%	0	0%	13 416
	Exchange gains	GN	185	-99,5%	38 767	646016,7%	06
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2008		31/12/2007		31/12/2006
	Total financial charge (Total VI)	GU	478 627	-25,5%	642 519	168,6%	239 175
	Financial reserves and provisions	GQ	26 406	-80,2%	133 656	626,9%	18 388
	Interest and similar charges	GR	386 539	12,9%	342 510	55,2%	220 742
	Exchange losses	GS	65 682	-60,5%	166 354	369575,6%	45
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2008		31/12/2007		31/12/2006
	Total extraordinary income (Total VII)	HD	1 004 840	405,9%	198 641	49684,7%	399
	Extraordinary operating income	HA	0	0%	8 048	1917,0%	399
	Extraordinary income from capital transactions	HB	770 414	1733,8%	42 012	0%	0
	Released provisions and transferred charges	HC	234 426	57,8%	148 581	0%	0

Extraordinary charges (VIII)

		31/12/2008		31/12/2007		31/12/2006
Total extraordinary charges (Total VIII)	HH	281 779	-70,5%	953 997	127,6%	419 223
Extraordinary operating charges	HE	233 698	210,7%	75 224	844,9%	7 961
Extraordinary charges from capital transactions	HF	48 081	-87,7%	390 195	2308,5%	16 201
Extraordinary reserves and provisions	HG	0	0%	488 578	23,7%	395 061

Employee profit sharing (IX)

		31/12/2008		31/12/2007		31/12/2006
Employee profit sharing (Total IX)	HJ	0	0%	21 309	-58,7%	51 567

Tax on profits (X)

		31/12/2008		31/12/2007		31/12/2006
Tax on profits (Total X)	HK	0	0%	74 546	-39,3%	122 751

References

		31/12/2008		31/12/2007		31/12/2006
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	56 828	81,8%	31 255	-87,3%	246 104
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms

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

Fixed Assets

Grand Total Fixed Assets (I to IV)

			31/12/2008		31/12/2007		31/12/2006
	Gross value at begin of period	OG	0	0%	5 435 000	11,2%	4 886 056
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	1 299 000	123,0%	582 641
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	409 000	1101,5%	34 042
	Gross value at the end of period	OL	0	0%	6 325 000	16,4%	5 434 655

Research and development Charge (Total I)

			31/12/2008		31/12/2007		31/12/2006
	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)

			31/12/2008		31/12/2007		31/12/2006
	Gross value at begin of period	KD	0	0%	1 007 000	12,4%	895 893
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	239 000	115,0%	111 150
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	393 000	0%	0
	Gross value at the end of period	LW	0	0%	853 000	-15,3%	1 007 043

Tangible fixed assets (Total III)

			31/12/2008		31/12/2007		31/12/2006
	Gross value at begin of period	LN	0	0%	2 931 000	18,1%	2 481 217
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	1 036 000	120,9%	468 937
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	12 000	-38,9%	19 626
	Gross value at the end of period	NH	0	0%	3 955 000	35,0%	2 930 528

Fiancial assets (Total IV)

			31/12/2008		31/12/2007		31/12/2006
	Gross value at begin of period	LQ	0	0%	1 497 000	-0,8%	1 508 946
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	24 000	839,7%	2 554
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	4 000	-72,3%	14 416
	Gross value at the end of period	NK	0	0%	1 517 000	1,3%	1 497 084

Reserve for depreciation

Situation and movement of reserve for depreciation

Grand total (I-II-III)

			31/12/2008		31/12/2007		31/12/2006
	Reserve for depreciation value at begin of period	0N	0	0%	1 814 000	26,3%	1 436 344
Increases		0P	0	0%	470 000	18,2%	397 501
Decreasess		0Q	0	0%	14 000	-28,7%	19 626
	Reserve for depreciation value at the end of period	0R	0	0%	2 270 000	25,1%	1 814 219

Research and development charge (Total I)

			31/12/2008		31/12/2007		31/12/2006
	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)

			31/12/2008		31/12/2007		31/12/2006
	Reserve for depreciation value at begin of period	PE	0	0%	336 000	11,6%	301 138
Increases		PF	0	0%	34 000	-2,2%	34 757
Decreasess		PG	0	0%	2 000	0%	0
	Decreasess by budget item transfer	PH	0	0%	368 000	9,6%	335 895

Total fixed assets amotisation (Total III)

			31/12/2008		31/12/2007		31/12/2006
	Reserve for depreciation value at begin of period	QU	0	0%	1 478 000	30,2%	1 135 206
Increases		QV	0	0%	436 000	20,2%	362 744
Decreases		QW	0	0%	12 000	-38,9%	19 626
	Decreasess by budget item transfer	QX	0	0%	1 902 000	28,7%	1 478 324

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2008		31/12/2007		31/12/2006
	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

			31/12/2008		31/12/2007		31/12/2006
	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)

			31/12/2008		31/12/2007		31/12/2006
	Value at begining of period	7C	0	0%	1 802 000	4,9%	1 718 517
Increases		UB	0	0%	659 000	-11,5%	744 443
Decreases		UC	0	0%	328 000	-50,4%	661 233
	Value at the end of period	UD	0	0%	2 133 000	18,4%	1 801 727

Includes Total allocations

Operating	UE	0	0%	0	0%	330 994
Financial	UG	0	0%	0	0%	18 388
Exceptional	UJ	0	0%	0	0%	395 061

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	647 817
Financial	UH	0	0%	0	0%	13 416
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2008		31/12/2007		31/12/2006
	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)

			31/12/2008		31/12/2007		31/12/2006
	Value at begining of period	5Z	0	0%	956 000	96,5%	486 440
Increases		TV	0	0%	603 000	3,3%	583 982
Decreases		TW	0	0%	328 000	187,3%	114 150
	Value at the end of period	TX	0	0%	1 231 000	28,7%	956 272

Total Provision for depreciation (Total III)

			31/12/2008		31/12/2007		31/12/2006
	Value at begining of period	7B	0	0%	846 000	-31,3%	1 232 077
Increases		TY	0	0%	56 000	-65,1%	160 461
Decreases		TZ	0	0%	0	0%	547 083
	Value at the end of period	UA	0	0%	902 000	6,7%	845 455

State deadlines claims and debts at the end of period

State claims

		31/12/2008		31/12/2007		31/12/2006
Gross value	VT	0	0%	37 188 000	33,8%	27 788 202
1 year at most	VU	0	0%	132 000	-99,5%	27 675 981
More than one year	VV	0	0%	37 056 000	32920,6%	112 221

State of loans

		31/12/2008		31/12/2007		31/12/2006
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	0	0%	0	0%	112 221
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2008		31/12/2007		31/12/2006
Customers doubtful or disputed	VA	0	0%	0	0%	341 371
Other claims customer	UX	0	0%	0	0%	18 463 270
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	24 898
Social Security and other social organizations	UZ	0	0%	463 000	5261,3%	8 636
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	256 120
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	8 389 000	1,8%	8 240 002
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	87 000	-32,9%	129 675

Prepaid

		31/12/2008		31/12/2007		31/12/2006
Prepaid	VS	0	0%	186 000	-12,3%	212 009

State Debt

			31/12/2008		31/12/2007		31/12/2006
	Total debt (gross)	VY	0	0%	41 303 000	39,9%	29 528 832
1 year at most		VZ2	0	0%	41 135 000	39,9%	29 392 667
More than 1 year and 5 years at most		VZ3	0	0%	168 000	23,4%	136 165
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2008		31/12/2007		31/12/2006
	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%	59 526
1 year at most		VG2	0	0%	0	0%	59 526
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%	191 000	24,7%	153 223
1 year at most		8A2	0	0%	23 000	34,8%	17 058
More than 1 year and 5 years at most		8A3	0	0%	168 000	23,4%	136 165
	Suppliers and associated accounts (gross)	8B1	0	0%	32 461 000	60,3%	20 254 761
1 year at most		8B2	0	0%	32 461 000	60,3%	20 254 761
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	1 418 965
1 year at most		8C2	0	0%	0	0%	1 418 965
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	2 376 000	93,8%	1 226 001
1 year at most		8D2	0	0%	2 376 000	93,8%	1 226 001
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	298 492
1 year at most		8E2	0	0%	0	0%	298 492
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	0	0%	958 000	0%	0
1 year at most		VQ2	0	0%	958 000	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%	114 000	-10,4%	127 290
1 year at most		8J2	0	0%	114 000	-10,4%	127 290
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%	5 042 000	-13,6%	5 833 423
1 year at most		VI2	0	0%	5 042 000	-13,6%	5 833 423
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	161 000	2,4%	157 151
1 year at most		8K2	0	0%	161 000	2,4%	157 151
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

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006
Average number of employees	YP	0	0%	0	0%	108

Groups and Shareholders

		31/12/2008		31/12/2007		31/12/2006
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

		31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Fixed Asset Financing		0,70	-55,1%	1,56	-9,3%	1,72	1,76	-60,2%
Global Debt		100 days	-24,8%	133 days	-8,3%	145 days	92,50 days	8,1%
Working Capital Fund overall net		-6 days	-154,5%	11 days	-42,1%	19 days	63 days	-109,5%
Financial independence		-370,15%	-	%	-	990,23%	429,50%	-186,2%
Solvability		-10,47%	-505,8%	2,58%	35,8%	1,90%	49,18%	-121,3%
Capacity debt futures		%	-	%	-	990,23%	1849,55%	-
Coverage of current assets by net working capital overall		-6,70%	-176,0%	8,81%	-36,9%	13,97%	48,46%	-113,8%
General Liquidity			-	0	0%	0,94	0,51	-
Restricted Liquidity			-	0,07	-92,7%	0,96	1,19	-

Management or rotation

		31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Need background in operating working capital		-5 days	-350,0%	2 days	-87,5%	16 days	15,50 days	-132,3%
Treasury		-1 days	-111,1%	9 days	350,0%	2 days	17 days	-105,9%
Inventory turnover of goods		1 days	-50,0%	2 days	100%	1 days	115,50 days	-99,1%
Average length of credit granted to customers		73 days	-19,8%	91 days	-1,1%	92 days	18 days	305,6%
Average length of credit obtained suppliers		79 days	-31,3%	115 days	4,5%	110 days	39,50 days	100%
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	325 days	-
Rotation tangible assets		%	-	2822,48%	12,6%	2506,96%	407,19%	-

Profitability of the business

		31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Margin trading		10,68%	-33,4%	16,04%	-5,8%	17,03	47,65%	-77,6%
Profitability of the business		-3,66	-402,5%	1,21	466,7%	-0,33	6,79%	-153,9%
Net profit		-3,17%	-698,1%	0,53%	562,5%	0,08%	3,47%	-191,4%
Growth rate of turnover (excluding VAT)		25,97%	-50,0%	51,94%	593,5%	7,49%	5,78%	349,3%
Rates integration		2,66%	-69,0%	8,57%	-13,6%	9,92%	35,81%	-92,6%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		217,06%	175,9%	78,66%	-16,6%	94,36%	67,11%	223,4%
Weight interests		0,34	-41,4%	0,58%	75,8%	0,33%	0,28%	21,4%

Return on capital

		31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Cash flow from the overall profitability		-3,23%	-277,5%	1,82%	487,1%	0,31%	6,17%	-152,4%
Rates of economic profitability		-236%	-1223,8%	21%	625,0%	-4%	20,07%	-1275,9%
Financial profitability		-3833013%	-440,1%	1127154%	91,2%	589447%	203947,50%	-1979,4%
Return on investment		-182,57%	-1044,0%	19,34%	326,9%	4,53%	13,86%	-1417,2%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2008		31/12/2007		31/12/2006	Sector Median 2008
Turnover	140 617 424	26,0%	111 629 168	51,9%	73 467 150	882 325 €	15837,1%

sales of goods	132 714 952	25,4%	105 860 062	54,6%	68 472 841
- Purchase of goods	117 427 557	33,0%	88 301 274	57,6%	56 014 771
+/- Stock of goods variation	268 282	177,1%	-347 793	-546,7%	-53 781
Trading margin	15 019 113 €	-16,1%	17 906 581 €	43,1%	12 511 851 €	386 342 €	3787,5%
	10,68 % CA	-33,4%	16,04 % CA	-5,8%	17,03 % CA	48,33 % CA	-77,9%

Sale of goods produced	7 902 472	37,0%	5 769 106	15,5%	4 994 309
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	7 902 472 €	37,0%	5 769 106 €	15,5%	4 994 309 €	39 139 €	20090,8%
	5,62 % CA	8,7%	5,17 % CA	-24,0%	6,80 % CA	4,71 % CA	19,3%

Trading margin	15 019 113	-16,1%	17 906 581	43,1%	12 511 851	386 342	3787,5%
+ Period Production	7 902 472	37,0%	5 769 106	15,5%	4 994 309	39 139	20090,8%
- Purchase of raw materials	338 023	20,4%	280 753	4,9%	267 765
+/- Change in stocks of raw materiels	474	-90,1%	4 784	2468,3%	-202
- Other external purchases and charges	18 848 619	36,4%	13 821 500	38,9%	9 951 154
Added value	3 734 469 €	-61,0%	9 568 650 €	31,3%	7 287 443 €	296 482 €	1159,6%
	2,66 % CA	-69,0%	8,57 % CA	-13,6%	9,92 % CA	35,81 % CA	-92,6%

Added value	3 734 469 €	-61,0%	9 568 650 €	31,3%	7 287 443 €	296 482 €	1159,6%
+ Operating grants	7 307	260,8%	2 025	-47,4%	3 852
- Tax, duty and similar payments	782 816	12,5%	695 923	5,9%	657 397
- Personal charges	8 106 020	7,7%	7 526 838	9,5%	6 876 592
Gross operating surplus	-5 147 060 €	-481,9%	1 347 914 €	655,4%	-242 694 €	50 510,50 €	-10290,1%
	-3,66 % CA	-402,5%	1,21 % CA	466,7%	-0,33 % CA	6,79 % CA	-153,9%

Gross operating surplus	-5 147 060 €	-481,9%	1 347 914 €	655,4%	-242 694 €	50 510,50 €	-10290,1%
+ Release of reserves and provisions	64 623	-69,3%	210 810	-76,4%	893 921
+ Other operating income	240 648	-26,5%	327 213	-72,3%	1 179 477
- Depreciation/Amortisation	984 794	94,5%	506 327	-30,5%	728 495
- Other charges	38 059	62,8%	23 380	-96,0%	584 096
Operating result	-5 864 642 €	-532,4%	1 356 230 €	161,8%	518 113 €	36 200,50 €	-16300,4%
	-4,17 % CA	-444,6%	1,21 % CA	70,4%	0,71 % CA	3,82 % CA	-209,2%

Operating result	-5 864 642 €	-532,4%	1 356 230 €	161,8%	518 113 €	36 200,50 €	-16300,4%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1 160 041	60,0%	725 207	93,0%	375 698
- Financial charges	478 627	-25,5%	642 519	168,6%	239 175
Pre-tax result	-5 183 228 €	-460,2%	1 438 918 €	119,8%	654 636 €	33 787 €	-15440,9%
	-3,69 % CA	-386,0%	1,29 % CA	44,9%	0,89 % CA	3,65 % CA	-201,1%

Extraordinary income	1 004 840	405,9%	198 641	49684,7%	399	1 785	56193,6%
- Extraordinary charges	281 779	-70,5%	953 997	127,6%	419 223
Extraordinary result	723 061 €	195,7%	-755 356 €	-80,4%	-418 824 €	38 €	1902692,1%
	0,51 % CA	175,0%	-0,68 % CA	-19,3%	-1 % CA	0,01 % CA	5000%

Pre-tax result	-5 183 228 €	-460,2%	1 438 918 €	119,8%	654 636 €	33 787 €	-15440,9%
Extraordinary result	723 061 €	195,7%	-755 356 €	-80,4%	-418 824 €	38 €	1902692,1%
- Employee profit sharing	0	0%	21 309	-58,7%	51 567
- Tax on profits	0	0%	74 546	-39,3%	122 751
Net result	-4 460 167 €	-858,9%	587 707 €	855,7%	61 494 €	30 840,50 €	-14562,0%
	-3,17 % CA	-698,1%	0,53 % CA	562,5%	0,08 % CA	3,47 % CA	-191,4%

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	26/03/2009	Monitored stopped since	26/03/2010
Status of Monitoring	No social security and tax office preferential right to date

Group data

Group Structure

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
14/02/2010	Bodacc B	Radiation
27 - EURE GREFFE DU TRIBUNAL DE COMMERCE D'EVREUX 684 - 392 164 919 RCS Evreux. VEOLIA PROPRETE FRANCE RECYCLING. Forme : Société par actions simplifiée. Adresse du siège social : 30 rue Proudhon, 93210 La Plaine Saint Denis.
21/01/2010	Bodacc B	Radiation
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 1415 - 392 164 919 RCS Bobigny. VEOLIA PROPRETE FRANCE RECYCLING. Forme : Société par actions simplifiée. Adresse du siège social : 30 rue Proudhon, 93210 Saint- Denis la Plaine.
22/10/2009	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 8393 - 392164919 RCS. VEOLIA PROPRETE FRANCE RECYCLING. Forme : Société par actions simplifiée. Adresse : 30 rue Proudhon 93210 Saint- Denis la Plaine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
30/09/2009	JAL	Proposed merger
AFFICHES PARISIENNES ET DEPARTEMENTALES Date de décision : 15-09-2009 Absorbant : 572221034 - VEOLIA PROPRETE, CGEA ONYX, 163 AV GEORGES CLEMENCEAU, NOS 163 169, 92000, NANTERRE Absorbe : 392164919 - VEOLIA PROPRETE FRANCE RECYCLING, 30 R PROUDHON, ST DENIS, 93210, SAINT DENIS Mali de fusion : 8 406 164,00 €
26/06/2008	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 7043 - 392164919 RCS. VEOLIA PROPRETE FRANCE RECYCLING. Forme : Société par actions simplifiée. Adresse : 30 rue Proudhon 93210 Saint- Denis la Plaine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
06/03/2008	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 5313 - 392 164 919 RCS Bobigny. VEOLIA PROPRETE FRANCE RECYCLING. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 15 Janvier 2007. Commissaire aux comptes titulaire : KPMG S. A en fonction le 15 Janvier 2007. Directeur général : BELTHE Marc Antoine en fonction le 17 Décembre 2007. Président : LE CONTE Jérôme en fonction le 17 Décembre 2007. Commentaires : Modification de représentant.
30/08/2007	Bodacc C	Avis de dépôt des comptes
6866 - 392 164 919. RCS Bobigny VEOLIA PROPRETE FRANCE RECYCLING. Forme: Société par actions simplifiée. Adresse du siège social: 30 rue Proudhon 93210 Saint- Denis la Plaine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
21/02/2007	Bodacc B	Modifications et mutations diverses
1785 - RCS Bobigny B 392 164 919. RC 93-B 2666. VEOLIA PROPRETE FRANCE RECYCLING. Forme : S.A.S. Commentaires : modification survenue sur la dénomination et le sigle (suppression).
25/01/2007	Bodacc B	Modifications et mutations diverses
2454 - RCS Bobigny B 392 164 919. RC 93-B 2666. SOULIER. Sigle : SNI. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : CABINET SALUSTRO REYDEL. Commissaire aux comptes suppléant partant : LUNEAU (Hubert). Nomination d'un commissaire aux comptes suppléant : S.C.P. DE COMMISSAIRES AUX COMPTES JEAN-CLAUDE ANDRE ET AUTRES. Nomination d'un commissaire aux comptes titulaire : K.P.M.G. S.A.
20/11/2006	Bodacc C	Avis de dépôt des comptes
6507 - RCS Bobigny B 392 164 919. RC 93-B 2666. SOULIER. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 30, rue Proudhon,93210 La Plaine-Saint-Denis. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
16/09/2005	Bodacc C	Avis de dépôt des comptes
5366 - RCS Bobigny B 392 164 919. RC 93-B 2666. SOULIER. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 30, rue Proudhon,93210 La Plaine-Saint-Denis. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
01/09/2005	Bodacc B	Modifications et mutations diverses
2348 - RCS Bobigny B 392 164 919. RC 93-B 2666. SOULIER. Sigle : SNI. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : MAGUIN (Dominique). Administrateurs partants : CGEA ONYX, représentée par GASQUET (Denis) COMPAGNIE EUROPEENNE DE PROPRETE ET D'HYGIENE, représentée par RELLET (Pierre) S.A. RECYCLAGE MATIERES-SARM, représentée par VALACHE (Michel) VOILET (Richard, Georges) STE ORLEANAISE DE COMBUSTIBLES ET DE COLLECTE D'ORDURES INDUSTRIELLES ET MENAGERES, représentée par ROSE (Bernard, Daniel) AUBINE, représentée par COURBOILLET (Didier).
12/07/2005	Bodacc A	Vente et cession
1932 - RCS B 392 164 919. RC AP-B 40836. SOULIER. Forme : S.A.S. Capital : 160 000 euros. Adresse du siège social : 30 rue Proudhon, 93210 La Plaine-Saint-Denis. Etablissement principal - Activité : récupération et recyclage de papiers belles et moyennes sortes. Adresse : 155 avenue de la Commune-de-Paris, 92000 Nanterre. Branche d'activité dépendant de l'établissement principal, acquise par achat au prix stipulé de 996 679,16 euros, à l'exception des activités de désarchivage et du tertiaire, collecte de papiers de bureaux, destruction confidentielle et collecte de cartons collectés. Date d'effet : 1er juin 2005. Précédent propriétaire : S.A. RECYCLAGE MATIERE. RCS 608 202 727. Publication légale : Le Publicateur légal du 30 juin 2005. Oppositions : au fonds, pour la validité et la correspondance.
31/08/2004	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : SNI. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : administrateur partant : ONYX EST, représentée par LEBLANC (Hervé). Nomination d'un administrateur : STE ORLEANAISE DE COMBUSTIBLES ET DE COLLECTE D'ORDURES INDUSTRIELLES ET MENAGERES, représentée par ROSE ( Bernard, Daniel).
31/08/2004	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : SNI. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : nomination d'un administrateur : AUBINE, représentée par COURBOILLET (Didier).
10/08/2003	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : SNI. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : nomination d'un administrateur : VOILET (Richard, Georges).
16/03/2003	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : SNI. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : modification du président du conseil d' administration et directeur général : MAGUIN (Dominique).
05/09/2001	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : S.N.I. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : administrateur partant : ONYX RECYCLAGE. Modification d'un administrateur : COMPAGNIE EUROPEENNE DE PROPRETE ET D' HYGIENE. Nomination d'un administrateur S.A. RECYCLAGE MATIERES-S.A.R.M.
20/09/2000	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : S.N.I. Forme : S.A. Capital : 160 000 euros. Commentaires : modification survenue sur le capital ( augmentation) et l'administration. Administration : administrateurs partants : STE UNION DE SERVICES PUBLICS-U.S.P STE ORDURES USINES IPODEC. Modification d'administrateurs : ONYX-RECYCLAGE COMPAGNIE GENERALE D' ENTREPRISES AUTOMOBILES-C.G.E.A. Nomination d'un administrateur : COMPAGNIE EUROPEENNE DE PROPRETE ET D' HYGIENE.
24/10/1999	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392164919 RC 93-B 2666 SOULIER. Sigle : S.N.I. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : modification d'administrateurs : STE UNION DE SERVICES PUBLICS-U.S.P. STE ORDURES USINES-IPODEC. Commissaire aux comptes titulaire partant : STE ACER CABINET PAYER ET ASSOCIES. Commissaire aux comptes suppléant partant : PAYER ( Francis).
20/11/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Bobigny B 392 164 919 RC RC 93-B 2666 SOULIER. Sigle : S.N.I. Forme : S. A. Administration : modification : administrateur : ONYX RECYCLAGE. Commentaires : modification survenue sur la dénomination, le sigle et l' administration.
13/01/1998	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392 164 919 RC 93-B 2666 SOULIER NEGOCE INTERNATIONAL-S.N.I. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : nomination d'un administrateur : COMPAGNIE GENERALE D' ENTREPRISES AUTOMOBILES-C.G.E.A.
05/12/1997	Bodacc B	Modifications et mutations diverses
RCS *. RCS Bobigny B 392 164 919 RC RC 93-B 2666 SOULIER NEGOCE INTERNATIONAL - S.N.I. Forme : S.A. Administration : suppression : administrateur : GASQUET (Denis). Modification : commissaire aux comptes suppléant : LUNEAU (Hubert). Commentaires : modification survenue sur l'administration.
07/10/1997	Bodacc B	Modifications et mutations diverses
RCS Bobigny B 392 164 919 RC 93-B 2666 SOULIER NEGOCE INTERNATIONAL-S.N.I. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration et administrateur partant : PETITHUGUENIN (Jean, Luc). Modification du président du conseil d' administration : MAGUIN (Dominique). Modification du commissaire aux comptes suppléant : LUNEAU (Hubert).
22/02/1996	Bodacc B	Modifications et mutations diverses
RCS *. RCS Bobigny B 392 164 919 RC RC 93-B 2666 SOULIER NEGOCE INTERNATIONAL - S.N.I. Forme : S.A. Administration : président du conseil d'administration et administrateur : PETITHUGUENIN ( Jean-Luc) Directeur général et administrateur : MAGUIN (Dominique). Administrateurs : GASQUET (Denis) SOULIER S.A. SOCIETE UNION DE SERVICES PUBLICS - U.S.P. SOCIETE ORDURES USINES IPODEC. Commissaires aux comptes titulaires : SOCIETE ACER CT PAYER ET ASSOCIES CABINET SALUSTRO REYDEL. Commissaires aux comptes suppléants : PAYER (Francis) LUNEAU (Hubert). Commentaires : modification survenue sur l'administration.

Company events history

Date	Description
15/10/2013	Update Rating
14/02/2010	Bodacc B: Radiation
21/01/2010	Bodacc B: Radiation
08/01/2010	Declaration of conformity
08/01/2010	Removed company
14/12/2009	Disengagement of the group
03/11/2009	Legal suspension of Company
22/10/2009	Bodacc C : Deposit accounts notice
30/09/2009	Legal Gazette: Proposed merger
26/03/2009	Collection of preferential rights activated for this company
31/12/2008	New accounts available
26/06/2008	Bodacc C : Deposit accounts notice
06/03/2008	Bodacc B: Various editing or changing
06/03/2008	New Bodacc B ads detected
31/12/2007	New accounts available
17/12/2007	New chairman (CEO, CoB)
17/12/2007	Minutes of general meeting of shareholders
17/12/2007	Appointment/resignation of company officers
17/12/2007	Private document
06/09/2007	Private document
06/09/2007	Appointment/resignation of company officers
06/09/2007	Minutes of general meeting of shareholders
07/02/2007	Private document
07/02/2007	Updated articles of association
07/02/2007	New company name
07/02/2007	Minutes of general meeting of shareholders
15/01/2007	New auditor
15/01/2007	Minutes of general meeting of shareholders
15/01/2007	Appointment/resignation of company officers
15/01/2007	Private document
31/12/2006	New accounts available
23/03/2006	Private document
23/03/2006	Amendment
31/12/2005	New accounts available
04/08/2005	New legal form – no new category
04/08/2005	Changement de Président (PDG, PCA)
04/08/2005	Acte sous seing privé
04/08/2005	Private document
04/08/2005	Appointment/resignation of company officers
04/08/2005	Minutes of general meeting of shareholders
04/08/2005	PV d'Assemblée
04/08/2005	Statuts mis à jour
04/08/2005	Updated articles of association
04/08/2005	Audit or Management Report
04/08/2005	Rapport des Commissaires ou du Gérant
04/08/2005	Changement de Forme Juridique sans changement de catégorie
04/08/2005	Nomination/démission des organes de gestion
31/12/2004	New accounts available
02/08/2004	Modification du Conseil d'Administration
02/08/2004	PV d'Assemblée
02/08/2004	Changes to the Board of Directors
02/08/2004	Minutes of general meeting of shareholders
02/08/2004	Private document
02/08/2004	Appointment/resignation of company officers
02/08/2004	Nomination/démission des organes de gestion
02/08/2004	PV du Conseil d'Administration
02/08/2004	Acte sous seing privé
01/01/2004	PV du Conseil d'Administration
01/01/2004	Acte sous seing privé
01/01/2004	Modification du Conseil d'Administration
01/01/2004	Nomination/démission des organes de gestion
31/12/2003	New accounts available
30/07/2003	Acte sous seing privé
30/07/2003	Nomination/démission des organes de gestion
30/07/2003	PV d'Assemblée
30/07/2003	Modification du système d'administration des S.A.
03/03/2003	Acte sous seing privé
03/03/2003	PV d'Assemblée
03/03/2003	Statuts mis à jour
03/03/2003	Nomination/démission des organes de gestion
03/03/2003	PV du Conseil d'Administration
03/03/2003	Modification du système d'administration des S.A.
21/08/2001	Modification du Conseil d'Administration
21/08/2001	PV du Conseil d'Administration
21/08/2001	Nomination/démission des organes de gestion
21/08/2001	Acte sous seing privé
05/09/2000	Conversion du Capital Social en Euros
05/09/2000	Modification du Conseil d'Administration
05/09/2000	Statuts mis à jour
05/09/2000	Nomination/démission des organes de gestion
05/09/2000	PV du Conseil d'Administration
05/09/2000	Acte sous seing privé
07/01/2000	Acte sous seing privé
07/01/2000	PV d'Assemblée
07/01/2000	Acte modificatif
08/10/1999	Nomination/démission des organes de gestion
08/10/1999	PV d'Assemblée
08/10/1999	Acte sous seing privé
03/11/1998	PV d'Assemblée
03/11/1998	Statuts mis à jour
03/11/1998	Changement de dénomination sociale
03/11/1998	Acte sous seing privé
24/12/1997	PV du Conseil d'Administration
24/12/1997	Modification du Conseil d'Administration
24/12/1997	Acte sous seing privé
24/12/1997	Nomination/démission des organes de gestion
19/11/1997	Nomination/démission des organes de gestion
19/11/1997	Modification du Conseil d'Administration
19/11/1997	Acte sous seing privé
23/09/1997	PV du Conseil d'Administration
23/09/1997	Modification du système d'administration des S.A.
23/09/1997	Nomination/démission des organes de gestion
23/09/1997	Acte sous seing privé
05/02/1996	Acte modificatif
05/02/1996	Nomination/démission des organes de gestion
05/02/1996	Changement de Président (PDG, PCA)
05/02/1996	Modification du Conseil d'Administration
05/02/1996	PV du Conseil d'Administration
11/10/1994	PV d'Assemblée
11/10/1994	Modification du Conseil d'Administration
11/10/1994	Changement de Président (PDG, PCA)
11/10/1994	Nomination/démission des organes de gestion
11/10/1994	Acte modificatif
11/10/1994	PV du Conseil d'Administration
18/08/1993	Formation de Société
18/08/1993	Certificat de dépôt des fonds
18/08/1993	Déclaration de conformité
18/08/1993	Acte sous seing privé
18/08/1993	Statuts
18/08/1993	PV du Conseil d'Administration
18/08/1993	Nomination/démission des organes de gestion
18/08/1993	PV d'Assemblée

Establishment events history

Date	Description
12/01/2013	Update of phone numbers
04/09/2010	Update Limit
15/01/2010	Update Rating
15/01/2010	Update Limit
03/11/2009	Closure of Head office
22/10/2009	Update of phone numbers
20/10/2009	Update Limit
20/10/2009	Update Rating
02/10/2009	Update Limit
06/09/2009	Update Rating
20/06/2008	Update Limit
12/02/2008	Update Rating
16/12/2007	Update Limit
10/12/2007	Update Limit
07/08/2007	Update Limit
15/06/2007	Update of phone numbers

Directors

Name	M. BELTHE MARC ANTOINE
	Manager position	Managing director	Date of birth	26/08/1969
	Place of birth	GENNEVILLIERS
	Type	Individual	Name at birth

Name	M. LE CONTE JÉRÔME
	Manager position	President	Date of birth	14/01/1952
	Place of birth	PARIS 16
	Type	Individual	Name at birth

Previous Directors

View the directors history for this company

If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEROME LE CONTE	14/01/1952 - PARIS
Chairman of the Board	M DOMINIQUE MAGUIN	23/05/1954 - BOURGES
Managing director	M MARC-ANTOINE BELTHE	26/08/1969 - GENNEVILLIERS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 59.07
UK Pound	1	Rs. 99.20
Euro	1	Rs. 80.53

INFORMATION DETAILS

Analysis Done by :	DIV
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.