MIRA INFORM REPORT

Report Date :

06.10.2014

IDENTIFICATION DETAILS

Name :	M C LEM

Registered Office :	20 BD Ampere 13014 Marseille 14

Country :	France

Financials (as on) :	31.12.2013

Date of Incorporation :	July 1990

Com. Reg. No.:	9 378 644 603

Legal Form :	Simplified joint stock company

Line of Business :	Manufacturing of outerwear

No. of Employees :	3 to 5

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	No complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

France

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

Source : CIA

Company name and address

M C LEM

company summary

		EUR VAT Number	FR92378644603
Activity (APE)	Manufacturing of outerwear)	Legal form	Simplified joint stock company
Phone	04 91 81 00 10	RCS Registration	RCS Marseille 9 378 644 603
Fax	04 91 90 15 99	Share capital	153,000 Euros
Address	M C LEM 20 BD AMPERE 13014 MARSEILLE 14	Incorporated Date	07/1990
Nationality	France	Status	Economically active

Company details

Activity (APE)	Manufacturing of outerwear
RCS Registration	RCS Marseille 9 378 644 603	Share capital	153,000 Euros
Registration Court	Marseille (13)	Legal form	Simplified joint stock company
Court Registry Number	19 9 0B01331	EUR VAT Number	FR92378644603
Incorporation Date	07/1990	Formation Date	05/1990
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Establishment details

Activity (APE)	Manufacturing of outerwear	Business Pages FT®
Postal Address	M C LEM 20 BD AMPERE 13014 MARSEILLE 14	Trading Address	20 BOULEVARD AMPERE 13014 MARSEILLE 14
Telephone	04 91 81 00 10
Fax	04 91 90 15 99

Type	Head office	Status	Economically active
Formation Date	05/2009	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Bouches-du-Rhône (13)	Region	Côte d'Azur
District		Area
City	MARSEILLE 14	Size of urban area

DIRECTORS/MANAGEMENT

Directors

Shareholder(s)

Name	KAPORAL FRANCE
Name of representative	SAS PROVESTIS
Manager position	President	Date of birth
Place of birth
Type	Moral person	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M LAURENT ENSELLEM	7/16/1971 - MARSEILLE
President	KAPORAL FRANCE	2/18/1946 - LE CATEAU CAMBRESIS
President	RESERVOIR TEAM	- - -
President	RESERVOIR TEAM	7/16/1971 - MARSEILLE

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Shareholders

Type of shareholder

Shareholders

Shareholders’ equity	15,235,620 €	16,992,133 €	14,433,175 €
Net result	802,445 €	2,558,958 €	18,215,555 €

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Preferential rights details and history

Summary of preferential rights

Company monitored since	09/04/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	TOWERBROOK CAPITAL PARTNERS L.P
Direct parent	RESERVOIR TEAM - 100 %
Group – Number of companies	47
Linkages – Number of companies	-
Number of countries	-

Group Structure

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Display only where participation % > 33 %

Display all participations

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Company Name	SIREN	Parts	Last account published
TOWERBROOK CAPITAL PARTNERS L.P	-	-	-
AUTODISTRIBUTION	962227351	62.50%	31/12/2012
COMMERCE RECHANGE AUTOMOBILES	967505660	100%	31/12/2013
SYLMART HOLDING	-	100%	-
AD GRAND OUEST	775609431	91.57%	31/12/2013
SOFAR	394502959	75%	31/12/2012
BOURY VEHICULES INDUSTRIELS	326680394	100%	31/12/2013
A.M. DEVELOPPEMENT	442448213	100%	31/12/2013
COMPTOIR TECHNIQUE DU LIMOUSIN	529315301	100%	31/12/2013
COMPTOIR DU FREIN	331717561	100%	31/12/2013
COMPTOIR TECHNIQUE VEHICULE INDU...	429708712	100%	31/12/2013
HYDRAULIQUE INDUSTRIES SERVICES	410415731	100%	31/12/2013
COFIRHAD	351438239	99.62%	31/12/2013
TRUCK & CAR SERVICES	450745039	100%	31/12/2013
AUTODISTRIBUTION SOGO	644801110	99.98%	31/12/2013
COGEMAD	775737554	100%	31/12/2012
GADEST	015550882	72.09%	31/12/2013
PARTS DISTRIBUZIONE ITALIA	-	100%	-
BREMSTAR	400207957	100%	31/12/2013
GROUPE A.D. SUD OUEST	542780036	99.99%	31/12/2013
FOURNITURES INDUSTRIELLES AUTOMOBI...	778116988	100%	31/12/2013
COMPTOIR VI	501653570	50.50%	31/12/2013
ALES POIDS LOURDS	302280169	100%	31/12/2013
GPT AUTODISTRIBUTION CTRE AUVERGNE	403442429	71.03%	31/12/2013
AD NORMANDIE MAINE	452044274	79.40%	31/12/2013
AD MALINGE CHEVALLIER	-	100%	-
ETABLISSEMENTS REMBAUD	314174293	99.97%	31/12/2012
GEST INFORMATIQUE RESEAU DEVELOP E...	956201875	97.68%	31/12/2012
FREINAGE POIDS LOURDS SERVICES "F....	379669567	100%	-
LOGISTEO	503755944	100%	31/12/2013
VAL DE LOIRE POIDS LOURDS	349790204	100%	31/12/2013
AUTODISTRIBUTION BASSIN PARISIEN N...	315493270	100%	31/12/2013
SCI L AVENIR	328244652	100%	-
EQUIPEMENTS AUTO BUSNENGO ET CIE	958513731	99.94%	31/12/2013
GIBELIN ESPACE AUTO	969503325	99.76%	31/12/2013
ENSSEMBLE	478839137	100%	30/09/2012
BUGISY	451417398	100%	30/09/2012
PORTERET ET GOBILLOT SA	776223281	100%	30/09/2012
ETABLISSEMENTS JEAN CLAUDE AND...	547320309	100%	30/09/2012
AUTO CONTROLE	383419017	50%	31/12/2013
AUTO CONTROLE 193	384345146	100%	30/09/2012
DIGITAL AFTERMARKET	351126438	100%	31/12/2013
RESERVOIR TEAM	453667214	Majority	31/07/2013
M C LEM	378644603	100%	31/12/2013
GOLD SONS	499395309	50.81%	31/12/2013
KARKA 26	524008679	51%	31/12/2013
DIAMS ONE	499454874	100%	31/12/2013

Ultimate parent company	TOWERBROOK CAPITAL PARTNERS L.P
Direct parent	RESERVOIR TEAM - 100 %
Group – Number of companies	47
Linkages – Number of companies	-
Number of countries	-

FINANCIAL INFORMATION

Annual Accounts	31/12/2013	31/07/2013	31/12/2012
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	10/09/2014	12/02/2014	25/06/2013
Activity Code	1413Z	1413Z	1413Z
Employees	0	47	43

Active account

Annual Accounts	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	2,116,065	0.2%	2,110,837	39.2%	1,516,323	29,111.50	7168.8%
- Intangible assets	175,975	72.4%	102,046	5874.6%	1,708	2,000	8698.8%
- Tangible assets	1,105,539	-6.4%	1,181,736	81.8%	650,017	5,879.50	18703.3%
- Financial assets	834,551	0.9%	827,055	-4.3%	864,598	2,622.50	31722.7%
Net current assets	61,141,675	-3.6%	63,439,531	8.2%	58,609,225	141,043.50	43249.5%
- Stocks	21,099,468	-17.5%	25,562,659	23.6%	20,685,588	24,289.50	86766.6%
- Advanced payments	277,606	-3.6%	381,109	252.6%	108,080	0	0%
- Receivables	34,180,421	15.3%	29,648,808	-0.1%	29,689,624	44,197.50	77235.6%
- Securities and cash	5,584,180	-28.8%	7,846,955	-3.4%	8,125,933	18,343	30343.1%
- Prepaid expenses	-	-	-	-	-	63	-
Accounts of regularization	0	0%	0	0%	1,524	0	0%
Total Assets	63,257,742	-3.5%	65,550,368	9.0%	60,127,074	195,138	32316.9%

Passive Account

Annual Accounts	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Shareholders' equity	15,235,620	-10.3%	16,992,133	17.7%	14,433,175	47,611	31900.2%
Share capital	153,000	0%	153,000	0%	153,000	10,000	1430.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	241,897	0.8%	240,028	-86.5%	1,774,357	0	0%
Liabilities	47,780,225	-1.1%	48,318,208	10.0%	43,919,344	109,708.50	43452.0%
- Financial liabilities	18,599,596	13.4%	16,400,503	-0.3%	16,448,031	13,253.50	140237.2%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	21,472,448	-14.4%	25,073,037	34.5%	18,646,055	19,443.50	110335.1%
- Tax and social liabilities	686,317	8.0%	635,768	-69.5%	2,087,863	40,678.50	1587.2%
- Other debts and fixed assets liabilities	6,402,407	3.2%	6,203,125	-7.9%	6,737,593	4,321	148069.6%
Account regularization	619,457	10626.5%	5,775	0%	0	0	0%
Total liabilities	63,257,741	-3.5%	65,550,368	9.0%	60,127,073	195,138	32316.9%

Results

Annual Accounts	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Sales of Goods	38,617,861	-23.8%	50,678,197	-45.0%	92,168,874	244,451	15697.8%
Net turnover	37,051,893	-20.6%	46,649,299	-47.7%	89,171,063	230,352.50	15984.9%
- of which net export turnover	0	0%	6,190,460	-43.0%	10,855,112	0	0%
Operating charges	37,229,659	-19.5%	46,276,405	-32.7%	68,782,336	241,374	15324.1%
Operating profit/loss	1,388,202	-68.5%	4,401,792	-81.2%	23,386,538	2,549.50	54350.0%
Financial income	242,860	-57.4%	569,828	74.2%	327,023	03	8095233.3%
Financial charges	431,695	-58.5%	1,038,985	-26.9%	1,421,159	531.50	81122.0%
Financial profit/loss	-188,835	59.8%	-469,157	57.1%	-1,094,136	-112	-168502.7%
Pretax net operating income	1,199,367	-69.5%	3,932,635	-82.4%	22,292,402	2,581.50	46360.1%
Extraordinary income	208,282	-87.2%	1,633,354	89.3%	862,631	0	0%
Extraordinary charges	143,810	-91.6%	1,715,910	-63.1%	4,655,714	150	95773.3%
Extraordinary profit/loss	64,472	178.1%	-82,556	97.8%	-3,793,083	0	0%
Net result	802,445	-68.6%	2,558,958	-86.0%	18,215,555	3,946.50	20233.1%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2013	31/07/2013	31/12/2012
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2013		31/07/2013		31/12/2012
Grand Total (I to VI)	Net	63,257,742	-3.5%	65,550,368	9.0%	60,127,074
Gross	CO	69,553,573	-1.2%	70,364,596	9.9%	64,001,851
Amortisation	1A	6,295,831	30.8%	4,814,228	24.2%	3,874,777

Non declared distributed capital (I)

		31/12/2013		31/07/2013		31/12/2012
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2013		31/07/2013		31/12/2012
Total Active fixed asset (II)	Net	2,116,065	0.2%	2,110,837	39.2%	1,516,323
Gross	BJ	3,482,696	6.5%	3,270,245	28.7%	2,541,572
Amortisation	BK	1,366,631	17.9%	1,159,408	13.1%	1,025,249

Intangible fixed assets

			31/12/2013		31/07/2013		31/12/2012
	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	88,748	-9.1%	97,673	0%	0
	Gross	CX	106,430	0%	106,430	0%	0
	Amortisation	AE	17,682	101.9%	8,757	0%	0
	Distributorships, patents	Net	3,429	-21.6%	4,373	156.0%	1,708
	Gross	AF	169,827	24.5%	136,393	4.5%	130,568
	Amortisation	AG	166,398	26.0%	132,020	2.5%	128,860
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	83,798	0%	0	0%	0
	Gross	AJ	83,798	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and down payments	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	175,975	72.4%	102,046	5874.6%	1,708

Tangilble fixed assets

		31/12/2013		31/07/2013		31/12/2012
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	618,598	-3.9%	643,764	72.5%	373,288
Gross	AP	823,778	0.8%	817,469	54.2%	530,224
Amortisation	AQ	205,180	18.1%	173,705	10.7%	156,936
Plant	Net	5,236	-36.7%	8,267	-33.7%	12,465
Gross	AR	51,306	0%	51,306	0%	51,306
Amortisation	AS	46,070	7.0%	43,039	10.8%	38,841
Other tangible fixed assets	Net	481,705	-3.5%	499,359	89.0%	264,264
Gross	AT	1,092,243	4.2%	1,047,722	41.7%	739,546
Amortisation	AU	610,538	11.3%	548,363	15.4%	475,282
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%	30,346	0%	0
Gross	AX	0	0%	30,346	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	1,105,539		1,181,736		650,017

Financial assets

		31/12/2013		31/07/2013		31/12/2012
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	9,000	0%	9,000	-67.6%	27,800
Gross	CU	27,800	0%	27,800	0%	27,800
Amortisation	CV	18,800	0%	18,800	0%	0
Inter-company receivables	Net	379,989	-9.6%	420,214	-8.5%	459,198
Gross	BB	661,952	1.1%	654,938	-4.3%	684,528
Amortisation	BC	281,963	20.1%	234,724	4.2%	225,330
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	24,540	-18.1%	29,950	57.6%	19,000
Gross	BF	24,540	0%	29,950	0%	19,000
Amortisation	BG	0		0		0
Other financial assets	Net	421,022	14.4%	367,891	2.6%	358,600
Gross	BH	441,022	19.9%	367,891	2.6%	358,600
Amortisation	BI	20,000	0%	0	0%	0
Sub Total Financial Assets		834,551		827,055		864,598

Current Assets (III)

		31/12/2013		31/07/2013		31/12/2012
Total Assets	Net	61,141,675	-3.6%	63,439,531	8.2%	58,609,225
Gross	CJ	66,070,875	-1.5%	67,094,351	9.2%	61,458,753
Amortisation	CK	4,929,200	34.9%	3,654,820	28.3%	2,849,528

Stocks

		31/12/2013		31/07/2013		31/12/2012
Raw materials	Net	1,697,142	-21.5%	2,163,098	-26.0%	2,921,959
Gross	BL	2,012,456	-28.7%	2,821,875	-9.6%	3,123,203
Amortisation	BM	315,314	-52.1%	658,777	227.4%	201,244
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	6,031,304	0.9%	5,979,200	20.4%	4,967,426
Gross	BR	6,849,707	6.8%	6,412,104	19.8%	5,351,699
Amortisation	BS	818,403	89.0%	432,904	12.7%	384,273
Goods for resale	Net	13,371,022	-23.2%	17,420,361	36.1%	12,796,203
Gross	BT	16,032,047	-14.9%	18,828,307	33.9%	14,059,700
Amortisation	BU	2,661,025	89.0%	1,407,946	11.4%	1,263,497
Sub Total Stocks	Net	21,099,468	-17.5%	25,562,659	23.6%	20,685,588

Advance payments to suppliers

		31/12/2013		31/07/2013		31/12/2012
Advance payments to suppliers	Net	277,606	-27.2%	381,109	252.6%	108,080
Gross	BV	277,606	-27.2%	381,109	252.6%	108,080
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2013		31/07/2013		31/12/2012
Trade accounts receivable	Net	29,208,817	8.2%	27,004,126	2.7%	26,282,812
Gross	BX	30,343,275	7.8%	28,159,319	3.2%	27,283,326
Amortisation	BY	1,134,458	-1.8%	1,155,193	15.5%	1,000,514
Other debtors	Net	4,461,788	107.7%	2,147,713	-31.2%	3,120,411
Gross	BZ	4,461,788	107.7%	2,147,713	-31.2%	3,120,411
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	33,670,605	15.5%	29,151,839	-0.9%	29,403,223

Divers

		31/12/2013		31/07/2013		31/12/2012
Investment securities	Net	34,409	0%	34,409	0%	34,409
Gross	CD	34,409	0%	34,409	0%	34,409
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	5,549,771	-29.0%	7,812,546	-3.4%	8,091,524
Gross	CF	5,549,771	-29.0%	7,812,546	-3.4%	8,091,524
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	5,584,180	-28.8%	7,846,955	-3.4%	8,125,933

Prepaid expenses

		31/12/2013		31/07/2013		31/12/2012
Prepaid expenses	Net	509,816	2.6%	496,969	73.5%	286,401
Gross	CH	509,816	2.6%	496,969	73.5%	286,401
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		31/07/2013		31/12/2012
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	1,524
Gross		0	0%	0	0%	1,524

References

		31/12/2013		31/07/2013		31/12/2012
Due within one year	CP	0	0%	450,165	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Grand Total - Passive Accounts (I to IV)

		31/12/2013		31/07/2013		31/12/2012
Grand Total (I to V)	EE	63,257,741	-3.5%	65,550,368	9.0%	60,127,073

Shareholder Equity (I)

		31/12/2013		31/07/2013		31/12/2012
Total shareholders' equity (Total I)	DL	15,235,620	-10.3%	16,992,133	17.7%	14,433,175
Equity and shareholders' equity	DA	153,000	0%	153,000	0%	153,000
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	15,300	0%	15,300	0%	15,300
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	12,434,061	130.6%	5,392,634	3104.8%	168,269
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	0	0%	7,041,427	0%	7,041,427
Profit or loss for the period	DI	802,445	-68.6%	2,558,958	-51.0%	5,224,365
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	1,830,814	0%	1,830,814	0%	1,830,814

Other capital resources (II)

		31/12/2013		31/07/2013		31/12/2012
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)

		31/12/2013		31/07/2013		31/12/2012
Total provisions for risks and charges (Total III)	DR	241,897	0.8%	240,028	-86.5%	1,774,357
Risk provisions	DP	0	0%	100,000	-50.4%	201,524
Reserves for charges	DQ	241,897	72.7%	140,028	-91.1%	1,572,833

Liabilities (IV)

		31/12/2013		31/07/2013		31/12/2012
Total Liabilities (Total IV)	EC	47,780,225	-1.1%	48,318,208	10.0%	43,919,344
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	8,997	-98.7%	701,077	3038.8%	22,336
Sundry loans and financial liabilities	DV	18,590,599	18.4%	15,699,426	-4.4%	16,425,695
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	21,472,448	-14.4%	25,073,037	34.5%	18,646,055
Tax and social security liabilities	DY	686,317	8.0%	635,768	-69.5%	2,087,863
Fixed asset liabilities	DZ	0	0%	0	0%	6,737,394
Other debts	EA	6,402,407	3.2%	6,203,125	0%	0

Translation loss (V)

		31/12/2013		31/07/2013		31/12/2012
Translation loss (Total V)	ED	0	0%	0	0%	199

Equalization accounts

		31/12/2013		31/07/2013		31/12/2012
Deferred income	EB	619,457	10626.5%	5,775	0%	0

References

		31/12/2013		31/07/2013		31/12/2012
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	43,919,344
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

1- Operating result (I-II)

		31/12/2013		31/07/2013		31/12/2012
Operating result (Total I-II)	GG	1,388,202	-68.5%	4,401,792	-81.2%	23,386,538

2 -Financial result (V - VI)

		31/12/2013		31/07/2013		31/12/2012
Financial result (Total V-VI)	GV	-188,835	59.8%	-469,157	57.1%	-1,094,136

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

		31/12/2013		31/07/2013		31/12/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1,199,367	-69.5%	3,932,635	-82.4%	22,292,402

4 -Extraordinary result(VII-VIII)

			31/12/2013		31/07/2013		31/12/2012
	Extraordinary result (Total VII-VIII)	HI	64,472	178.1%	-82,556	97.8%	-3,793,083

Profit or loss

			31/12/2013		31/07/2013		31/12/2012
	Profit or loss	HN	802,445	-68.6%	2,558,958	-86.0%	18,215,555

Total Income (I+III+V+VII)

			31/12/2013		31/07/2013		31/12/2012
	Total Income (I+III+V+VII)	HL	39,069,003	-26.1%	52,881,379	-43.4%	93,358,528

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

			31/12/2013		31/07/2013		31/12/2012
	Total charges (Total II+IV+VI+VIII+IX+X)	HM	38,266,558	-24.0%	50,322,423	-33.0%	75,142,972

Operating income(I)

			31/12/2013		31/07/2013		31/12/2012
	Total operating income (Total I)	FR	38,617,861	-23.8%	50,678,197	-45.0%	92,168,874

Operating income (details)

		31/12/2013		31/07/2013		31/12/2012
Sale of goods for resale	FC	27,192,935	-11.5%	30,709,298	-65.1%	88,098,058
France	FA	27,192,935	11.0%	24,503,099	-68.3%	77,292,249
Export	FB	0	0%	6,206,199	-42.6%	10,805,809
Sale of goods produced	FF	9,400,714	-38.1%	15,198,968	0%	0
France	FD	9,400,714	-38.2%	15,214,707	0%	0
Export	FE	0	0%	-15,739	0%	0
Sale of services	FI	458,244	-38.2%	741,033	-30.9%	1,073,005
France	FG	458,244	-38.2%	741,033	-27.6%	1,023,702
Export	FH	0	0%	0	0%	49,303
Net turnover	FL	37,051,893	-20.6%	46,649,299	-47.7%	89,171,063
France	FJ	37,051,893	-8.4%	40,458,839	-48.3%	78,315,951
Export	FK	0	0%	6,190,460	-43.0%	10,855,112
Stocked production	FM	437,604	-58.7%	1,060,404	4.1%	1,018,927
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	8,000	-56.8%	18,513
Release of reserves and provisions	FP	1,097,153	-62.9%	2,956,955	50.9%	1,959,544
Other income	FQ	31,211	781.9%	3,539	327.9%	827

Operating charges(II)

			31/12/2013		31/07/2013		31/12/2012
	Total operating charges (Total II)	GF	37,229,659	-19.5%	46,276,405	-32.7%	68,782,336

Exploitation charges

		31/12/2013		31/07/2013		31/12/2012
Purchase of goods for resale	FS	10,698,363	-45.4%	19,578,689	-33.2%	29,291,152
Change in stocks of goods for resale	FT	2,796,260	158.6%	-4,768,606	-5992.0%	80,934
Purchase of raw materials	FU	4,724,747	-25.3%	6,325,791	472.3%	1,105,389
Change in stocks of raw materials	FV	809,419	168.6%	301,329	152.9%	-569,521
Other external purchases and charges	FW	13,214,136	-25.5%	17,734,765	-44.5%	31,925,893
Tax, duty and similar payments	FX	203,769	-43.8%	362,600	-44.0%	647,795
Payroll	FY	915,683	-17.3%	1,106,719	-12.4%	1,263,934
Social security costs	FZ	399,143	-14.4%	466,435	691.1%	58,957

Depreciation

		31/12/2013		31/07/2013		31/12/2012
Depreciation of fixed assets	GA	126,932	0%	0	0%	214,875
Amortisation of fixed assets	GB	0	0%	145,184	0%	0
Depreciation/amortisation of current assets	GC	2,208,950	-39.6%	3,654,819	28.3%	2,849,528
Provisions for risks and charges	GD	241,897	72.7%	140,028	92.3%	72,833

Other charges

		31/12/2013		31/07/2013		31/12/2012
Other charges	GE	890,360	-27.5%	1,228,652	-33.2%	1,840,567

Operating charges (III-IV)

		31/12/2013		31/07/2013		31/12/2012
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)

		31/12/2013		31/07/2013		31/12/2012
Total financial income (Total V)	GP	242,860	-57.4%	569,828	74.2%	327,023
Share financial income	GJ	9,136	-12.2%	10,411	-82.8%	60,532
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	141,268	1527.9%	8,678	329.4%	2,021
Released provisions and transferred charges	GM	0	0%	226,854	11986.0%	1,877
Exchange gains	GN	92,456	-71.5%	323,885	23.3%	262,593
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2013		31/07/2013		31/12/2012
Total financial charge (Total VI)	GU	431,695	-58.5%	1,038,985	-26.9%	1,421,159
Financial reserves and provisions	GQ	67,239	-73.5%	253,524	11.8%	226,854
Interest and similar charges	GR	197,405	-67.1%	599,338	-48.3%	1,160,094
Exchange losses	GS	167,051	-10.2%	186,123	444.0%	34,211
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

		31/12/2013		31/07/2013		31/12/2012
Total extraordinary income (Total VII)	HD	208,282	-87.2%	1,633,354	89.3%	862,631
Extraordinary operating income	HA	10,882	1878.5%	550	0%	0
Extraordinary income from capital transactions	HB	97,400	196.9%	32,804	-92.6%	444,700
Released provisions and transferred charges	HC	100,000	-93.8%	1,600,000	282.8%	417,931

Extraordinary charges(VIII)

		31/12/2013		31/07/2013		31/12/2012
Total extraordinary charges (Total VIII)	HH	143,810	-91.6%	1,715,910	-63.1%	4,655,714
Extraordinary operating charges	HE	61,614	-0.2%	61,733	669.4%	8,024
Extraordinary charges from capital transactions	HF	52,062	-96.9%	1,654,177	-47.4%	3,147,690
Extraordinary reserves and provisions	HG	30,134	0%	0	0%	1,500,000

Employee profit sharing(IX)

		31/12/2013		31/07/2013		31/12/2012
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/12/2013		31/07/2013		31/12/2012
Tax on profits (Total X)	HK	461,394	-64.3%	1,291,123	355.0%	283,763

References

		31/12/2013		31/07/2013		31/12/2012
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2013		31/07/2013		31/12/2012
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	0	0%	154,836	-50.9%	315,172
Gross value at the end of period	OL	0	0%	3,270,246	28.7%	2,541,572

Research and development Charge (Total I)

		31/12/2013		31/07/2013		31/12/2012
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%	106,430	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%	106,430	0%	0

Other budget item from Intangible fixed assets(Total II)

		31/12/2013		31/07/2013		31/12/2012
Gross value at begin of period	KD	0	0%	130,568	-39.3%	215,068
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	5,825	5.9%	5,500
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	0	0%	0	0%	90,000
Gross value at the end of period	LW	0	0%	136,393	4.5%	130,568

Tangible fixed assets (Total III)

		31/12/2013		31/07/2013		31/12/2012
Gross value at begin of period	LN	0	0%	1,321,076	-9.0%	1,452,476
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	0	0%	728,853	1190.7%	56,471
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	0	0%	103,086	-45.1%	187,872
Gross value at the end of period	NH	0	0%	1,946,843	47.4%	1,321,075

Fiancial assets (Total IV)

		31/12/2013		31/07/2013		31/12/2012
Gross value at begin of period	LQ	0	0%	1,089,928	9.2%	998,496
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	0%	42,402	-67.1%	128,732
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	0	0%	51,750	38.7%	37,300
Gross value at the end of period	NK	0	0%	1,080,580	-0.9%	1,089,928

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

			31/12/2013		31/07/2013		31/12/2012
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2013		31/07/2013		31/12/2012
	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)

			31/12/2013		31/07/2013		31/12/2012
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	121,163
Increases		PF	0	0%	0	0%	7,698
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	128,861

Total fixed assets amotisation(Total III)

			31/12/2013		31/07/2013		31/12/2012
	Reserve for depreciation value at begin of period	QU	0	0%	799,919	43.8%	556,129
Increases		QV	0	0%	136,427	-34.1%	207,177
Decreases		QW	0	0%	39,219	-57.5%	92,248
	Decreasess by budget item transfer	QX	0	0%	897,127	33.7%	671,058

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		31/07/2013		31/12/2012
	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

			31/12/2013		31/07/2013		31/12/2012
	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%	106,430	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)

			31/12/2013		31/07/2013		31/12/2012
	Value at begining of period	7C	0	0%	6,680,026	54.5%	4,323,178
Increases		UB	0	0%	4,048,372	-12.9%	4,649,215
Decreases		UC	0	0%	4,749,215	107.2%	2,292,364
	Value at the end of period	UD	0	0%	5,979,183	-10.5%	6,680,029

Includes Total allocations

Operating	UE	0%	3,794,847	0%
Financial	UG	0%	253,524	0%
Exceptional	UJ	0%	0	0%

Includes Total Withdrawal

Operating	UF	0%	2,922,360	0%
Financial	UH	0%	226,854	0%
Exceptional	UK	0%	1,600,000	0%

Total regulated provisions (Total I)

			31/12/2013		31/07/2013		31/12/2012
	Value at begining of period	3Z	0	0%	1,830,814	0%	1,830,814
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	1,830,814	0%	1,830,814

Total risk and charge provisions (Total II)

			31/12/2013		31/07/2013		31/12/2012
	Value at begining of period	5Z	0	0%	1,774,357	186.3%	619,808
Increases		TV	0	0%	140,028	-91.1%	1,574,357
Decreases		TW	0	0%	1,674,357	298.8%	419,808
	Value at the end of period	TX	0	0%	240,028	-86.5%	1,774,357

Total Provision for depreciation (Total III)

			31/12/2013		31/07/2013		31/12/2012
	Value at begining of period	7B	0	0%	3,074,858	64.2%	1,872,556
Increases		TY	0	0%	3,908,344	27.1%	3,074,858
Decreases		TZ	0	0%	3,074,858	64.2%	1,872,556
	Value at the end of period	UA	0	0%	3,908,344	27.1%	3,074,858

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

		31/12/2013		31/07/2013		31/12/2012
Gross value	VT	0	0%	31,856,781	0.3%	31,752,267
1 year at most	VU	0	0%	31,488,890	-0.8%	31,739,667
More than one year	VV	0	0%	367,891	2819.8%	12,600

State of loans

		31/12/2013		31/07/2013		31/12/2012
Claims related to holdings (gross)	UL	0	0%	654,938	-4.3%	684,528
Claims related to shareholdings (1 year at most)	UM	0	0%	654,938	-4.3%	684,528
Loans (gross)	UP	0	0%	29,950	57.6%	19,000
Loans (1 year at most)	UR	0	0%	29,950	368.0%	6,400
Other financial assets (gross)	UT	0	0%	367,891	2.6%	358,600
Other financial assets (1 year at most)	UV	0	0%	0	0%	358,600

Receivables statement of assets

		31/12/2013		31/07/2013		31/12/2012
Customers doubtful or disputed	VA	0	0%	104,725	91.7%	54,635
Other claims customer	UX	0	0%	28,054,594	3.0%	27,228,692
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%	74,755	1616.1%	4,356
Social Security and other social organizations	UZ	0	0%	5,299	188.8%	1,835
Income taxes	VM	0	0%	115,204	0%	0
Value added tax	VB	0	0%	1,761,064	-25.4%	2,360,238
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	20,497	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	170,894	-77.3%	753,982

Prepaid

			31/12/2013		31/07/2013		31/12/2012
	Prepaid	VS	0	0%	496,969	73.5%	286,401

State Debt

			31/12/2013		31/07/2013		31/12/2012
	Total debt (gross)	VY	0	0%	48,318,208	10.0%	43,919,344
1 year at most		VZ2	0	0%	48,318,208	10.0%	43,919,344
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2013		31/07/2013		31/12/2012
	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%	701,077	3038.8%	22,336
1 year at most		VG2	0	0%	701,077	3038.8%	22,336
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	0	0%	25,073,037	34.5%	18,646,055
1 year at most		8B2	0	0%	25,073,037	34.5%	18,646,055
More than 1 year and 5 years at most		8B3	0	0%	25,073,037	34.5%	18,646,055
	Personnel and associated accounts (gross)	8C1	0	0%	227,746	39.2%	163,620
1 year at most		8C2	0	0%	227,746	39.2%	163,620
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%	306,413	50.9%	203,000
1 year at most		8D2	0	0%	306,413	50.9%	203,000
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	1,375,461
1 year at most		8E2	0	0%	0	0%	1,375,461
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	24,536	-37.0%	38,933
1 year at most		VW2	0	0%	24,536	-37.0%	38,933
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%	77,073	-74.9%	306,850
1 year at most		VQ2	0	0%	77,073	-74.9%	306,850
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	15,699,426	-4.4%	16,425,695
1 year at most		VI2	0	0%	15,699,426	-4.4%	16,425,695
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%	6,203,125	-7.9%	6,737,394
1 year at most		8K2	0	0%	6,203,125	-7.9%	6,737,394
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%	5,775	0%	0
1 year at most		8L2	0	0%	5,775	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2013		31/07/2013		31/12/2012
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	2,979,439

Table allocation results and other information
Dividends distributed

			31/12/2013		31/07/2013		31/12/2012
	Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2013		31/07/2013		31/12/2012
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

		31/12/2013		31/07/2013		31/12/2012
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

		31/12/2013		31/07/2013		31/12/2012
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

		31/12/2013		31/07/2013		31/12/2012
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

			31/12/2013		31/07/2013		31/12/2012
	Average number of employees	YP	0	0%	47	9.3%	43

Groups and Shareholders

			31/12/2013		31/07/2013		31/12/2012
	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

	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Fixed Asset Financing	10.18	-4.3%	10.64	-19.7%	13.25	1.94	424.7%
Global Debt	464days	24.4%	373days	110.7%	177days	140days	231.4%
Working Capital Fund overall net	311days	28.0%	243days	92.9%	126days	87days	257.5%
Financial independence	169341.11%	6886.8%	2423.72%	-96.2%	64618.44%	323.76%	52204.5%
More ratios
Solvability	24.08%	-7.1%	25.92%	8.0%	24%	36.41%	-33.9%
Capacity debt futures	%	-	2423.72%	-96.2%	64618.44%	1327.64%	-
Coverage of current assets by net working capital overall	48.72%	3.0%	47.31%	-7.0%	50.88%	45.55%	7.0%
General Liquidity		-	0.65	-9.7%	0.72	0.44	-
Restricted Liquidity		-	0.81	-11.0%	0.91	0.97	-

Management or rotation

	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Need background in operating working capital	257days	43.6%	179days	94.6%	92days	23days	1017.4%
Treasury	54days	-11.5%	61days	84.8%	33days	10days	440.0%
Inventory turnover of goods	428days	-6.6%	458days	166.3%	172days	77days	455.8%
Average length of credit granted to customers	295days	35.9%	217days	97.3%	110days	32days	821.9%
Average length of credit obtained suppliers	240days	4.3%	230days	111.0%	109days	48.50days	394.8%
More ratios
Inventory turnover of raw materials in industrial enterprises	153days	88.9%	81days	-13.8%	94days	58days	163.8%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	2396days	-	days	965days	-
Rotation tangible assets	%	-	2396.15%	-64.5%	6749.89%	762.54%	-

Profitability of the business

	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Margin trading	36.97%	8.5%	34.08%	-48.3%	65.86	0%	0%
Profitability of the business	10.06	-29.0%	14.17	-52.1%	29.61	2.79%	260.6%
Net profit	2.17%	-60.5%	5.49%	-73.1%	20.43%	2.16%	0.5%
More ratios
Growth rate of turnover (excluding VAT)	-20.57%	56.9%	-47.69%	-638.9%	8.85%	-0.37%	-5459.5%
Rates integration	14.16%	-22.6%	18.30%	-42.5%	31.80%	27.31%	-48.2%
Rate leasing furniture	0%	0%	0%	0%	0%	0%	0%
Work Factor	25.06%	36.0%	18.43%	294.6%	4.67%	76.09%	-67.1%
Weight interests	1.17	-47.5%	2.23%	40.3%	1.59%	0.29%	303.4%

Return on capital

	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Cash flow from the overall profitability	2.65%	836.1%	-0.36%	-101.4%	25.64%	3.28%	-19.2%
Rates of economic profitability	11%	-45.0%	20%	-76.7%	86%	8%	37.5%
Financial profitability	15235620%	-10.3%	16992133%	17.7%	14433175%	23785.50%	63954.2%
Return on investment	3.65%	-66.1%	10.77%	-83.1%	63.59%	8.09%	-54.9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/07/2013		31/12/2012	Sector Median2013
Turnover	37,051,893	-20.6%	46,649,299	-47.7%	89,171,063	230,352 €	15984.9%

Sales of goods	27,192,935	-11.5%	30,709,298	-65.1%	88,098,058
- Purchase of goods	10,698,363	-45.4%	19,578,689	-33.2%	29,291,152
+/- Stock of goods variation	2,796,260	158.6%	-4,768,606	-5992.0%	80,934
Trading margin	13,698,312 €	-13.8%	15,899,215 €	-72.9%	58,725,972 €	0 €	0%
	36.97 % CA	8.5%	34.08 % CA	-48.3%	65.86 % CA	0 % CA	0%

Sale of goods produced	9,858,958	-38.1%	15,940,001	1385.5%	1,073,005
+/- Stocked production	437,604	-58.7%	1,060,404	4.1%	1,018,927
+ Self-constructed assets	0	0%	0	0%	0
Period production	10,296,562 €	-39.4%	17,000,405 €	712.7%	2,091,932 €	74,201.50 €	13776.5%
	27.79 % CA	-23.7%	36.44 % CA	1450.6%	2.35 % CA	99.77 % CA	-72.1%

Trading margin	13,698,312	-13.8%	15,899,215	-72.9%	58,725,972	0	0%
+ Period Production	10,296,562	-39.4%	17,000,405	712.7%	2,091,932	74,201.50	13776.5%
- Purchase of raw materials	4,724,747	-25.3%	6,325,791	472.3%	1,105,389
+/- Change in stocks of raw materiels	809,419	168.6%	301,329	152.9%	-569,521
- Other external purchases and charges	13,214,136	-25.5%	17,734,765	-44.5%	31,925,893
Added value	5,246,572 €	-38.5%	8,537,735 €	-69.9%	28,356,143 €	60,740.50 €	8537.7%
	14.16 % CA	-22.6%	18.30 % CA	-42.5%	31.80 % CA	27.31 % CA	-48.2%

Added value	5,246,572 €	-38.5%	8,537,735 €	-69.9%	28,356,143 €	60,740.50 €	8537.7%
+ Operating grants	0	0%	8,000	-56.8%	18,513
- Tax, duty and similar payments	203,769	-43.8%	362,600	-44.0%	647,795
- Personal charges	1,314,826	-16.4%	1,573,154	18.9%	1,322,891
Gross operating surplus	3,727,977 €	-43.6%	6,609,981 €	-75.0%	26,403,970 €	3,969.50 €	93815.5%
	10.06 % CA	-29.0%	14.17 % CA	-52.1%	29.61 % CA	2.79 % CA	260.6%

Gross operating surplus	3,727,977 €	-43.6%	6,609,981 €	-75.0%	26,403,970 €	3,969.50 €	93815.5%
+ Release of reserves and provisions	1,097,153	-62.9%	2,956,955	50.9%	1,959,544
+ Other operating income	31,211	781.9%	3,539	327.9%	827
- Depreciation/Amortisation	2,577,779	-34.6%	3,940,031	25.6%	3,137,236
- Other charges	890,360	-27.5%	1,228,652	-33.2%	1,840,567
Operating result	1,388,202 €	-68.5%	4,401,792 €	-81.2%	23,386,538 €	2,549.50 €	54350.0%
	3.75 % CA	-60.3%	9.44 % CA	-64.0%	26.23 % CA	1.81 % CA	107.2%

Operating result	1,388,202 €	-68.5%	4,401,792 €	-81.2%	23,386,538 €	2,549.50 €	54350.0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	242,860	-57.4%	569,828	74.2%	327,023
- Financial charges	431,695	-58.5%	1,038,985	-26.9%	1,421,159
Pre-tax result	1,199,367 €	-69.5%	3,932,635 €	-82.4%	22,292,402 €	2,582 €	46351.1%
	3.24 % CA	-61.6%	8.43 % CA	-66.3%	25.00 % CA	1.68 % CA	92.9%

Extraordinary income	208,282	-87.2%	1,633,354	89.3%	862,631	0	0%
- Extraordinary charges	143,810	-91.6%	1,715,910	-63.1%	4,655,714
Extraordinary result	64,472 €	178.1%	-82,556 €	97.8%	-3,793,083 €	0 €	0%
	0.17 % CA	194.4%	-0.18 % CA	95.8%	-4 % CA	0 % CA	0%

Pre-tax result	1,199,367 €	-69.5%	3,932,635 €	-82.4%	22,292,402 €	2,582 €	46351.1%
Extraordinary result	64,472 €	178.1%	-82,556 €	97.8%	-3,793,083 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	461,394	-64.3%	1,291,123	355.0%	283,763
Net result	802,445 €	-68.6%	2,558,956 €	-86.0%	18,215,556 €	3,948 €	20225.4%
	2.17 % CA	-60.5%	5.49 % CA	-73.1%	20.43 % CA	2.17 % CA	0%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Other establishments

	Branches	2 branch entities in this company
	Head office	Manufacturing of outerwear
	Secondary establishments	Manufacturing of outerwear

	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

3 to 5 employees

Company workforce

20 to 49 employees

Accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Judgements

Collective procedures

No judgment information for the company

Social security, pension funds preferential rights | Tax office preferential rights

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
29/09/2014	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 906 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
20/08/2014	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 164 - 378 644 603 RCS Marseille. MC LEM. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes suppléant : BESOIAN Bernard modification le 11 Août 2014 Commissaire aux comptes suppléant : AUDITEX modification le 30 Avril 2014 Président : Kaporal France représenté par SAS PROVESTIS modification le 30 Avril 2014 Commissaire aux comptes titulaire : ERNST & YOUNG AUDIT modification le 30 Avril 2014 Commissaire aux comptes titulaire : C 2 B CABINET BERNARD BESOIAN en fonction le 11 Août 2014. Activité : . Commentaires : Modification de représentant.
21/02/2014	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1164 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2013.
20/02/2014	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 181 - 378 644 603 RCS Marseille. MC LEM. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : BESOIAN Bernard modification le 13 Mai 2009 Commissaire aux comptes suppléant : FLOSI Michel modification le 13 Mai 2009 Commissaire aux comptes suppléant : AUDITEX en fonction le 11 Février 2014 Président : Kaporal France représenté par BERNARD Daniel en fonction le 11 Février 2014 Commissaire aux comptes titulaire : ERNST & YOUNG AUDIT en fonction le 11 Février 2014. Activité : . Commentaires : Modification de représentant.
24/01/2014	JAL	Resignation / Revocation of the social representative

Nouvelles Publications (Les) Date de décision : 30/12/2013 La société 378644603 - M C LEM, 20 BD AMPERE, 13014 MARSEILLE 14 Fait l'objet du départ de La société 453667214 - RESERVOIR TEAM, 20 BD AMPERE, 13014, MARSEILLE 14
24/01/2014	JAL	Appointment of the social representative

Nouvelles Publications (Les) Date de décision : 30/12/2013 Société faisant l'objet d'une nomination : 378644603 - M C LEM, 20 BD AMPERE, 13014 MARSEILLE 14 Nominé : 793955501 - KAPORAL FRANCE, 20 BD AMPERE, 13014 MARSEILLE 14 En la fonction de : Président
22/07/2013	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1402 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
03/09/2012	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1765 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
09/03/2012	Bodacc A	Vente et cession : Vendeur

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 201 - Réctificatif. Parution avis précédent : BODACC A. Numéro de parution : . Date de parution : 9 février 2012. Numéro d’annonce : 267. Cet avis est annulé et remplacé par le suivant. 330 456 880 RCS Marseille. BEST ACADEMY. Forme : SARL. Capital : 41923.48 EUR. Adresse : 22 RUE Tapis Vert, 13001 Marseille. Origine du fonds : Achat d'un fonds de commerce au prix stipulé de 180000 Euros. Etablissement : Etablissement principal. Activité : la fabrication, la vente en gros et au détail, l'importation et l'exportation de vêtements pour hommes, femmes, enfants de tous articles de confection et de tous articles et accessoires dérivant du prêt à porter, de la chaussure, de la chapellerie. Adresse : 44 rue Longue des Capucins, 13001 Marseille. Précédent propriétaire : MC LEM. 378 644 603 RCS Marseille. Date de commencement de l’activité : 16/01/2012. Publication légale : Les Nouvelles Publications du 27/01/2012. Oppositions : Au Mandataire Me Frédéric AMSELLEM 22 rue Edouard de Langlade 13006 MARSEILLE pour la validité et pour la correspondance. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
09/02/2012	Bodacc A	Vente et cession : Vendeur

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 267 - 378 644 603 RCS Marseille. MC LEM. Forme : Société par actions simplifiée. Capital : 153000 EUR. Adresse : 20 boulevard Ampère, 13014 Marseille. Origine du fonds : Achat d'un fonds de commerce au prix stipulé de 180000 Euros. Etablissement : Etablissement principal. Activité : la fabrication, la vente en gros et au détail, l'importation et l'exportation de vêtements pour hommes, femmes, enfants de tous articles de confection et de tous articles et accessoires dérivant du prêt à porter, de la chaussure, de la chapellerie. Adresse : 44 rue Longue des Capucins, 13001 Marseille. Précédent propriétaire : MC LEM. 378 644 603 RCS Marseille. Date de commencement de l’activité : 16/01/2012. Publication légale : Les Nouvelles Publications du 27/01/2012. Oppositions : Au Mandataire Me Frédéric AMSELLEM 22 rue Edouard de Langlade 13006 MARSEILLE pour la validité et pour la correspondance. Descriptif : . Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
21/01/2012	JAL	Activity or goodwill cession

Nouvelles Publications (Les) Date de décision : 16/01/2012 Cédant : 378644603 - M C LEM, 20 BD AMPERE, 13014 MARSEILLE 14 Cessionnaire : 330456880 - BEST ACADEMY, 22 RUE TAPIS VERT, REZ DE CHAUSSEE, 13001 MARSEILLE 1 Prix de vente : 180000 € Date d’effet : 16/01/2012
17/10/2011	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1218 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
30/08/2010	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1094 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 20 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
12/08/2009	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1040 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 219 boulevard Ampère 13014 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
24/05/2009	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 181 - 378 644 603 RCS Marseille. MC LEM. Forme : Société par actions simplifiée. Adresse du siège social : 219 boulevard Ampère, 13014 Marseille. Commentaires : Modification de l'adresse du siège.
23/12/2008	Bodacc B	Modification et mutation diverse

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 423 - 378 644 603 RCS Marseille. MC LEM. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : BESOIAN Bernard en fonction le 18 Septembre 2001. Commissaire aux comptes suppléant : FLOSI Michel en fonction le 18 Septembre 2001. Président : RESERVOIR TEAM représenté par EMSELLEM Laurent Henri en fonction le 11 Décembre 2008. Commentaires : Modification de représentant.
24/04/2008	Bodacc C	Comptes annuels et rapports

13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 1272 - 378644603 RCS. MC LEM. Forme : Société par actions simplifiée. Adresse : 44 rue Longue des Capucins 13001 Marseille. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
12/12/2007	Bodacc C	Avis de dépôt des comptes

455 - 378 644 603. RCS Marseille MC LEM. Forme: Société par actions simplifiée. Adresse du siège social: 44 rue Longue des Capucins 13001 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
20/11/2006	Bodacc C	Avis de dépôt des comptes

2285 - RCS Marseille B 378 644 603. RC 90-B 1331. MC LEM. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 44, rue Longue des Capucins,13001 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
20/11/2006	Bodacc C	Avis de dépôt des comptes

2286 - RCS Marseille B 378 644 603. RC 90-B 1331. MC LEM. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 44, rue Longue des Capucins,13001 Marseille. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
31/10/2005	Bodacc B	Modifications et mutations diverses

169 - RCS Marseille B 378 644 603. RC 90-B 1331. MC LEM. Forme : S.A.S. Activité : fabrication, vente en gros, au détail, import-export de vêtements pour hommes, femmes et enfants, de tous articles de confection de tous articles et d'accessoires dérivant du prêt-à-porter, de la chaussure et de la chapellerie . Commentaires : modification survenue sur l'activité.
04/04/2004	Bodacc B	Modifications et mutations diverses

RCS Marseille B 378644603 RC 90-B 1331 MC LEM. Forme : S.A.S. Commentaires : modification survenue sur l'adresse de l'établissement principal Etablissement principal: Adresse : 44 rue Longue-des- Capucins, 13001 Marseille.
20/02/2004	Bodacc A	Création d'établissement

RCS Marseille B 378644603 RC 90-B 1331 MC LEM. Forme : S.A.S. Capital : 153 000 euros. Activité : vente en gros de vetements. Adresse du siège social : 19 rue Tapis-Vert, 13001 Marseille Etablissement Complémentaire. Adresse : 44 rue Longue-des-Capucins, 13001 Marseille Etablissement complémentaire acquis par achat au prix stipulé de 122 000 euros Date de début d'activité: 1 e r janvier 2004. Précédent propriétaire : S. A.R.L. NEU PAP Publication légale: Les Nouvelles publications du 17 janvier 2004. Oppositions : au fonds.
05/02/2004	Bodacc A	Création d'établissement

RCS Marseille B 378644603 RC AP-B 40053 MC LEM. Forme : S.A.S. Capital : 153 000 euros. Adresse du siège social : 19 rue Tapis-Vert, 13001 Marseille Etablissement principal: Activité : vente en gros de vetements. Adresse : 44 rue Longue-des-Capucins, 13001 Marseille Etablissement principal acquis par achat au prix stipulé de 122 000 euros. Date d'effet : 9 janvier 2004. Précédent propriétaire : SOCIETE BAT. RCS 720800184 Publication légale: Les Nouvelles publications du 23 janvier 2004. Oppositions : au fonds, pour la validité et la correspondance.
30/09/2001	Bodacc B	Modifications et mutations diverses

RCS Marseille B 378644603 RC 90-B 1331 M.C. LEM. Forme : S.A.S. Capital : 153 000 euros. Commentaires : modification survenue sur la forme juridique, le capital (augmentation) et l' administration. Administration : modification du président : ENSELLEM ( Laurent, Henri). Nomination du commissaire aux comptes titulaire : BESOIAN (Bernard). Nomination du commissaire aux comptes suppléant : FLOSI (Michel).
16/09/1999	Bodacc B	Modifications et mutations diverses

*. RCS Marseille B 378 644 603 RC 90-B 1331 MC LEM. Forme : S.A.R.L. Capital : 738 890 F. Commentaires : modification survenue sur le capital (augmentation).

Company events history

Date	Description
01/10/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/09/2014	Bodacc C : Deposit accounts notice
20/08/2014	Bodacc B: Various editing or changing
05/08/2014	Minutes of general meeting of shareholders
05/08/2014	New auditor
21/02/2014	Bodacc C : Deposit accounts notice
20/02/2014	Bodacc B: Various editing or changing
13/02/2014	Update Limit
13/02/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
07/02/2014	New auditor
07/02/2014	New chairman (CEO, CoB)
07/02/2014	Amendment
24/01/2014	Legal Gazette: Resignation / Revocation of the social representative
31/12/2013	New accounts available
30/12/2013	Legal Gazette: Appointment of the social representative
31/07/2013	New accounts available
22/07/2013	Bodacc C : Deposit accounts notice
16/07/2013	Minutes of general meeting of shareholders
16/07/2013	Amendment
15/07/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
26/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
07/06/2013	New subsidiarie(s) detected
07/06/2013	New ultimate parent
07/06/2013	New parent detected
31/12/2012	New accounts available
08/09/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
03/09/2012	Bodacc C : Deposit accounts notice
09/03/2012	Bodacc A : Sale and transfer
21/02/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
09/02/2012	Bodacc A : Sale and transfer
16/01/2012	Legal Gazette: Activity or goodwill cession
31/12/2011	New accounts available
17/10/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
30/08/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
27/10/2009	Acte modificatif
27/10/2009	Updated articles of association
27/10/2009	Statuts mis à jour
30/09/2009	Modification to Establishment Address or Identifier
12/08/2009	Bodacc C : Deposit accounts notice
24/05/2009	Bodacc B: Various editing or changing
13/05/2009	Updated articles of association
13/05/2009	Acte modificatif
13/05/2009	Registered office transferred inside jurisdiction of the Commercial Court
13/05/2009	Transfert du Siège dans le ressort du Tribunal de Commerce
13/05/2009	Statuts mis à jour
13/05/2009	Private document
13/05/2009	Minutes of general meeting of shareholders
01/05/2009	Update of Company Head Office Identifier
01/05/2009	Transfer of Establishment
31/12/2008	New accounts available
23/12/2008	Bodacc B: Various editing or changing
23/12/2008	New Bodacc B ads detected
11/12/2008	PV d'Assemblée
11/12/2008	Appointment/resignation of company officers
11/12/2008	Changement de Président (PDG, PCA)
11/12/2008	Minutes of general meeting of shareholders
11/12/2008	New chairman (CEO, CoB)
11/12/2008	Private document
11/12/2008	Statuts mis à jour
11/12/2008	Updated articles of association
24/04/2008	Bodacc C : Deposit accounts notice
09/04/2008	Collection of preferential rights activated for this company
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
10/01/2005	Acte sous seing privé
10/01/2005	Cession de parts
31/12/2004	New accounts available
04/03/2004	Transfert du Siège dans le ressort du Tribunal de Commerce
04/03/2004	Statuts mis à jour
04/03/2004	Acte sous seing privé
04/03/2004	PV d'Assemblée
18/09/2001	Changement de Forme Juridique avec changement de catégorie
18/09/2001	Changement de Forme Juridique sans changement de catégorie
18/09/2001	Augmentation de Capital
18/09/2001	Conversion du Capital Social en Euros
18/09/2001	Acte sous seing privé
18/09/2001	Statuts mis à jour
18/09/2001	PV d'Assemblée
18/09/2001	Nomination/démission des organes de gestion
18/09/2001	Rapport des Commissaires ou du Gérant
31/08/1999	Statuts mis à jour
31/08/1999	Acte sous seing privé
31/08/1999	PV d'Assemblée
31/08/1999	Augmentation de Capital
18/02/1997	Acte sous seing privé
18/02/1997	Statuts mis à jour
18/02/1997	Cession de parts
17/02/1994	Statuts mis à jour
17/02/1994	Déclaration de conformité
17/02/1994	Acte modificatif
17/02/1994	Cession de parts
17/02/1994	PV d'Assemblée
17/02/1994	Acte sous seing privé
01/01/1994	PV d'Assemblée
22/12/1993	Changement de Gérant
22/12/1993	Nomination/démission des organes de gestion
22/12/1993	Acte modificatif
22/12/1993	PV d'Assemblée
15/12/1993	PV d'Assemblée
15/12/1993	Cession de parts
15/12/1993	Statuts mis à jour
15/12/1993	Acte sous seing privé
15/12/1993	Acte modificatif
15/12/1993	Déclaration de conformité
19/10/1993	Acte modificatif
19/10/1993	Statuts mis à jour
19/10/1993	Déclaration de conformité
19/10/1993	Augmentation de Capital
19/10/1993	PV d'Assemblée
09/08/1993	PV d'Assemblée
09/08/1993	Continuation malgré perte supérieure à la moitié du capital
09/08/1993	Acte modificatif
17/02/1940	Cession de parts
17/02/1940	Acte sous seing privé

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.07
Euro	1	Rs.77.95

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIS

RATING EXPLANATIONS

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

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

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

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

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

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

MIRA INFORM REPORT

Company name and address

company summary

Company details

Establishment details

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Company events history

NOTES & COMMENTS

Unit