MIRA INFORM REPORT

Report Date :

22.09.2014

IDENTIFICATION DETAILS

Name :	JUNGHANS T2M SAS
Registered Office :	Ancien Chemin D Ardon 45240 La Ferte Saint Aubin
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	November 2000
Com. Reg. No.:	0 433 426 558
Legal Form :	Simplified joint stock company
Line of Business :	Manufacture of weapons and ammunition
No. of Employees	20 to 49

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
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	A1	A1

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

FRANCE ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 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

JUNGHANS T2M SAS

company summary

EUR VAT Number	FR21433426558
Activity (APE)	Manufacture of weapons and ammunition	Legal form	Simplified joint stock company
Phone	02 38 51 63 63	RCS Registration	RCS Orleans 0 433 426 558
Fax		Share capital	1,710,000 Euros
Address	JUNGHANS T2M SAS ANCIEN CHEMIN D ARDON 45240 LA FERTE SAINT AUBIN	Incorporated Date	11/2000
Nationality	France	Status	Economically active

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	35,636,176 €	28,458,392 €	40,530,769 €
Gross Operating Surplus	17.01 % Turnover	15.30 % Turnover	25.70 % Turnover
Shareholders’ equity	6,943,783 €	5,305,063 €	6,865,908 €
Net result	3,942,783 €	2,304,063 €	3,864,909 €
Employees	20 to 49 employees	-	-

Company details

Activity (APE)	Manufacture of weapons and ammunition
RCS Registration	RCS Orleans 0 433 426 558	Share capital	1,710,000 Euros
Registration Court	Orleans (45)	Legal form	Simplified joint stock company
Court Registry Number	20 0 6B00486	EUR VAT Number	FR21433426558
Incorporation Date	11/2000	Formation Date	10/2000
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Establishment details

Activity (APE)	Manufacture of weapons and ammunition	Business Pages FT®	ARMES ET MUNITIONS (FABRICATION, GROS)
Postal Address	JUNGHANS T2M SAS ANCIEN CHEMIN D ARDON 45240 LA FERTE SAINT AUBIN	Trading Address	ANCIEN CHEMIN D ARDON 45240 LA FERTE SAINT AUBIN
Telephone	02 38 51 63 63
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	05/2006	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Manufacture, production	Activity Location	Plant
Location surface		Seasonality

Department	Loiret (45)	Region	Centre
District	2	Area	13
City	LA FERTE SAINT AUBIN	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office
Secondary establishments

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

Workforces

Workforce at address

Workforce unknown

Company workforce

20 to 49 employees

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. BOTTERO ALEXANDRE
Manager position	President	Date of birth	25/06/1970
Place of birth	CANNES (06)
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

1,710,000 Euros

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	1
	Total number of Invoices paid within or up to 30 days after the due date	1
	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

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	DIEHL STIFTUNG & CO KG	HRA 552

Group data

Ultimate parent company	DIEHL STIFTUNG & CO KG
Direct parent	JUNGHANS MICROTEC GMBH - 100 %
Group – Number of companies	95
Linkages – Number of companies	254
Number of countries	38

Group Structure

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Display only where participation % > 33 %

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DIEHL STIFTUNG & CO KG

Company Name	SIREN	Parts	Last account published
DIEHL STIFTUNG & CO. KG	HRA 552	-	31/12/2012
DIEHL AEROSPACE GMBH	HRB 581408	51%	31/12/2012
SAPPEL	418682670	100%	31/12/2009
RTG EUROMUNITION GMBH	HRB 4260	50%	31/08/2012
MLRS - EUROPAISCHE PRODUKTIONS GMBH	-	60%	-
METARES SAS	572021921	100%	31/12/2012
DIEHL BGT DEFENCE GMBH & CO. KG	HRA 581075	100%	-
AIM INFRAROT-MODULE GMBH	HRB 105858	50%	31/12/2012
DIEHL AKO STIFTUNG & CO. KG	HRA 620609	100%	-
ELASTOMER SOLUTIONS GMBH	HRB 40924	100%	31/12/2012
DIEHL METALL STIFTUNG & CO. KG	HRA 11844	100%	-
DIEHL REMSCHEID GMBH & CO KG	HRA 18268	100%	-
DIEHL WERKZEUGBAU SEEBACH GMBH	HRB 405207	100%	31/12/2012
DIEHL & EAGLE-PICHER GESELLSCHAFT MI...	HRB 9098	55%	31/12/2012
GUMMIWERK BLANKENHEIM GMBH	HRB 29155	100%	31/12/2011
HYDROMETER GMBH	HRB 69	98.80%	-
DIEHL METERING SYSTEMS GMBH	HRB 21644	100%	-
DIEHL DEFENCE LAND SYSTEMS GMBH	HRB 80359	100%	31/12/2012
JUNGHANS MICROTEC GMBH	HRB 471117	55%	31/12/2007
JUNGHANS T2M SAS	433426558	100%	31/12/2013
OTB OBERFLÄCHENTECHNIK IN BERLIN GMB...	HRA 21449 B	100%	-
SMH SÜDDEUTSCHE METALLHANDELSGESELLS...	HRB 1319	100%	31/12/2012
SUNDWIGER MESSINGWERK GMBH & CO. KG	HRA 1993	100%	-
DIEHL AEROSPACE INC	US48239274	100%	-
DIEHL AUGE DECOUPAGE SAS	495036808	100%	31/12/2013
DIEHL CONTROLS INTEGRATED SYSTEMS IT...	-	100%	-
DIEHL METERING S.R.L.	MI1565198	100%	31/12/2013
DIEHL METERING LIMITED	02402340	100%	31/12/2013
DIEHL CONTROLS MÉXICO SA DE CV	-	100%	-
DIEHL CONTROLS (NANJING) CO LTD	-	100%	-
DIEHL CONTROLS NORTH AMERICA INC	US12060107	100%	-
DIEHL CONTROLS POLSKA SP ZOO	-	100%	-
DIEHL DO BRASIL METALÚRGICA LIMITADA	-	100%	-
DIEHL - ELASTÓMEROS UNIPESSOAL LDA	-	100%	-
DIEHL ELASTOMER SLOVAKIA SRO	-	100%	-
DIEHL HELLAS LTD	-	100%	-
DIEHL IBERIA SISTEMAS SA	-	100%	-
DIEHL METALL MALAYSIA SDN BHD	-	100%	-
DIEHL METALL (SHENZHEN) CO LTD	-	100%	-
DIEHL POWER ELECTRONIC SAS	489804930	100%	31/12/2013
DIEHL SYNCHROTEC MANUFACTURING (WUXI...	-	100%	-
ELIN WASSERWERKSTECHNIK GESELLSCHAFT...	-	100%	-
FRANCONIA INDUSTRIES, INC	US46246543	100%	-
HYDROMETER (SHANDONG) METERING CO LT...	-	100%	-
MIROMETR SP ZOO	-	100%	-
MAGYAR OPTIKAI MUVEK VÍZMÉRÉSTECHNIK...	-	100%	-
SAPPEL DO BRASIL LIMITADA	-	100%	-
THE MILLER	US26316933	100%	-
BERKA INDUSTRIE-HANDELSGESELLSCHAFT ...	HRB 13775	100%	31/12/2012
BORG INSTRUMENTS	US34183957	100%	-
DIEHL AEROSYSTEMS-HOLDING GMBH	HRB 23567	100%	31/12/2012
DIEHL ASSEKURANZ RÜCKVERSICHERUNGS- ...	HRB 21586	100%	31/12/2008
DIEHL AUSBILDUNGS- UND QUALIFIZIERUN...	HRB 13125	100%	31/12/2009
DIEHL BETEILIGUNGEN GMBH	HRB 19506	100%	-
DIEHL DEFENCE HOLDING GMBH	HRB 581674	100%	-
DIEHL BGT DEFENCE VERWALTUNGS-GMBH	HRB 581694	100%	31/12/2011
DIEHL CONTROLS NÜRNBERG VERWALTUNGS ...	HRB 16662	100%	31/12/2012
DIEHL INFORMATIK GMBH	HRB 7267	100%	31/12/2009
DIEHL TRACK GESELLSCHAFT MIT BESCHRÄ...	HRB 5779	100%	31/12/2011
DIEHL VA SYSTEME STIFTUNG & CO. KG	HRA 580953	100%	-
DONAR GESELLSCHAFT MIT BESCHRÄNKTER ...	HRB 1178 BHV	100%	31/12/2009
GEBRÜDER JUNGHANS GESELLSCHAFT MIT B...	HRB 16722	96.10%	31/12/2012
GOMA GESELLSCHAFT MIT BESCHRÄNKTER H...	HRB 80302	100%	31/12/2008
HYDROMETER VERWALTUNGS MBH	-	100%	-
INTEGRA VERMÖGENSVERWALTUNGS- UND BE...	HRB 20144	100%	-
JUNGHANS FEINWERKTECHNIK GMBH & CO. ...	HRA 480837	100%	-
JUNGHANS - STAHL GESELLSCHAFT MIT BE...	HRB 16261	100%	31/12/2011
NEUBRANDENBURGER FAHRZEUGWERKE GMBH	HRB 25631	100%	31/12/2012
OTB OBERFLÄCHENTECHNIK IN BERLIN VER...	HRB 27397 B	100%	31/12/2011
PYROTECHNISCHE FABRIK (PYF) GMBH	HRB 19637	100%	31/12/2011
SUNDWIGER MESSINGWERK VERWALTUNGS GM...	HRB 2297	100%	31/12/2011
DIEHL AIRCABIN GMBH	HRB 723914	100%	31/12/2012
DIEHL (JINAN) TRADING CO LTD	-	100%	-
ASIAN METERING PTE LTD	-	100%	-
DIEHL MIDDLE EAST GMBH	HRB 20155	100%	31/12/2011
DIEHL PROPIEDADES SA	-	100%	-
GOMA GMBH	HRB 26520	100%	31/12/2011
EURO ROCKET SYSTEM GMBH	HRB 16925	50%	29/02/2012
FFT FAHRZEUGBAU- UND FAHRZEUGTECHNIK...	HRB 29063	100%	31/12/2011
GERMAN MISSILE AND DEFENCE GMBH	-	100%	-
HEINRICH DIEHL GEDÄCHTNISFONDS GESEL...	HRB 825	100%	31/12/2011
MANUSAAR SAARLÄNDISCHE METALLWARENIN...	HRB 81017	100%	31/12/2011
MAUSER-WERKE OBERNDORF UNTERSTÜTZUNG...	HRB 480339	100%	31/12/2011
DIEHL RAYTHEON MISSILE SYSTEME, GMBH	HRB 581653	50%	31/12/2012
DYNITEC GMBH	HRB 6493	50%	31/12/2012
EUROSPIKE GMBH	HRB 21534	40%	31/12/2012
GIWS GESELLSCHAFT FÜR INTELLIGENTE W...	HRB 8309	50%	31/12/2012
MATRIX POWER SYSTEMS GMBH	HRB 621151	50%	31/12/2009
PARSYS GMBH	HRB 4165	50%	31/12/2013
AFELIXA GRUNDSTÜCKSVERWALTUNGSGESELL...	HRA 42314	94%	31/12/2012
GFAB GESELLSCHAFT FÜR ARBEITSQUALIFI...	HRB 15158	50%	30/09/2007
HIL INDUSTRIE-HOLDING GMBH	HRB 13543	33.30%	31/12/2012
JUNGHANS ELECTRONIC GESELLSCHAFT MBH	-	50%	-
PGM SYSTEMS LIMITED	01570272	33.30%	31/10/2008
WPT-GRUNDSTÜCKSVERWALTUNGS GMBH & CO...	-	100%	-

Linkages

Ultimate parent company	DIEHL STIFTUNG & CO KG
Direct parent	JUNGHANS MICROTEC GMBH - 100 %
Group – Number of companies	95
Linkages – Number of companies	254
Number of countries	38
THALES		FR11727475	552059024	31/12/2013	100	5 000 000 €	205 000 000 €
DCNS		FR12248407	441133808	31/12/2013	100	5 000 000 €	3 318 538 000 €
THALES UK LIMITED		UK00541984	00868273	31/12/2012	49	3 700 000 £	358 347 000 £
THALES HOLDING NORWAY AS		NO00588015	980149404	31/12/2013	75	800 KNOK	0 KNOK
THALES INTERNATIONAL SAS		FR00516394	303889307	31/12/2013	89	350 000 €	47 073 000 €
THALES ALENIA SPACE ITALIA S.P.A.		-	RM1068540	31/12/2012	65	9 040 000 €	703 926 000 €
THALES AVIONICS SAS		FR11787781	612039495	31/12/2011	100	5 000 000 €	1 041 600 000 €
THALES COMMUNICATIONS & SECURITY S.A.S		FR15931465	383470937	31/12/2013	100	5 000 000 €	1 797 514 000 €
THALES AIR SYSTEMS SAS		FR00934036	319159877	31/12/2013	100	5 000 000 €	556 218 000 €
THALES SYSTEMES AEROPORTES SAS		FR02874633	383475092	31/12/2012	100	5 000 000 €	722 623 000 €
THALES ELECTRONICS LIMITED		UK00185886	00497098	31/12/2012	75	13 600 000 £	0 £
THALES UNDERWATER SYSTEMS LIMITED		UK02743475	03084140	31/12/2012	87	11 650 000 £	135 172 000 £
THALES TRAINING AND SIMULATION LIMITED		UK00136004	00426402	31/12/2012	84	13 800 000 £	64 411 000 £
THALES OPTRONIQUE SAS		FR03689087	398993899	31/12/2013	100	5 000 000 €	358 995 076 €
THALES EUROPE SAS		FR05098738	420864720	31/12/2013	100	150 000 €	0 €
SIFELEC		FR00543091	305149478	31/12/2013	NC	-	0 €
THALES E-SECURITY LIMITED		UK02180512	02518805	31/12/2012	92	4 650 000 £	45 782 000 £
UNITED MONOLITIC SEMICONDUCTOR HOLDING		FR15135927	407675958	31/12/2013	100	150 000 €	0 €
THALES OPTRONICS LIMITED		UK07127544	SC008495	31/12/2012	92	11 250 000 £	230 218 000 £
THALES ELECTRON DEVICES S A		FR01795174	340723626	31/12/2013	99	4 150 000 €	302 124 470 €
THALES ATM LIMITED		UK02888421	03229755	31/12/2012	73	1 150 000 £	16 518 000 £
THALES DEUTSCHLAND GMBH		DE01936540	HRB 728000	31/12/2012	77	190 000 €	29 272 217 €
THALES AIR DEFENCE LIMITED		UK07022165	NI027183	31/12/2013	73	2 500 000 £	57 378 000 £
THALES ITALIA S.P.A.		-	FI585462	31/12/2013	6	0 €	156 972 566 €
THALES NAVAL LIMITED		UK03610464	03957722	31/12/2012	86	3 250 000 £	89 939 000 £
PIXMANIA		FR16602254	352236244	30/04/2013	1	0 €	504 575 243 €
THALES ELECTRONIC SYSTEMS GMBH		DE00958583	HRB 728793	31/12/2012	87	1 250 000 €	170 985 225 €
THALES UNDERWATER SYSTEMS SAS		FR04010000	403215692	31/12/2013	55	2 450 000 €	369 502 €
THALES CORPORATE VENTURES SAS		FR01697059	338815319	31/12/2013	72	485 000 €	0 €
DASELL CABIN INTERIOR HOLDING GMBH		DE01999581	HRB 26444	31/12/2012	50	50 000 €	-
DIEHL AEROSYSTEMS-INTERIOR-HOLDING GMBH		DE02043088	HRB 26240	31/12/2011	50	160 000 €	-
EUPEC PIPECOATINGS FRANCE		FR01749062	339858219	31/12/2011	69	1 050 000 €	241 019 397 €
THALES AVIONICS LCD SAS		FR14176246	343078481	31/12/2013	63	380 000 €	18 992 427 €
THALES TRANSPORTATION SYSTEMS GMBH		DE02370441	HRB 720908	31/12/2006	69	49 000 €	151 525 000 €
THALES AVIONICS LIMITED		UK00207232	00523160	31/12/2012	71	3 100 000 £	131 127 000 £
ELETTRONICA - SOCIETA PER AZIONI		-	RM158053	31/12/2012	58	4 915 000 €	214 074 222 €
TRIXELL		FR04463521	411195043	31/12/2013	97	2 150 000 €	186 903 461 €
THALES AVIONICS ELECTRICAL SYSTEMS SAS		FR11738570	552114175	31/12/2013	19	0 €	113 522 453 €
SOCIETE FRANCAISE DETECTEURS INFRAROUGES		FR17582356	334835709	31/12/2013	96	4 200 000 €	129 895 641 €
SITAC		FR16330739	509195962	31/12/2013	100	200 000 €	0 €
SAS FERTE		FR03414500	393192653	31/12/2013	100	215 000 €	3 879 625 €
III-V LAB		FR07950642	478651284	31/12/2013	65	165 000 €	27 987 674 €
DIEHL METAL APPLICATIONS GMBH		DE02527328	HRB 26028	31/12/2012	48	160 000 €	-
HELISIM		FR05168672	421646365	31/12/2013	55	255 000 €	26 299 108 €
THALES UNDERWATER SYSTEMS N.V.		NL01992667	33281785	31/12/2013	71	1 050 000 €	-
DIEHL SERVICE MODULES GMBH		DE02771183	HRB 117785	31/12/2012	56	91 000 €	25 924 471 €
SAS ETRELLES		FR02874595	383474723	31/12/2013	100	150 000 €	1 681 873 €
THALES ELECTRON DEVICES GMBH		DE01982300	HRB 3170	31/12/2011	NC	-	119 417 970 €
THALES AIR SYSTEMS & ELECTRON DEVICES GM...		DE01511349	HRB 207307	31/12/2011	NC	-	61 999 654 €
THALES ANGENIEUX SA		FR02872729	383449501	31/12/2013	84	950 000 €	87 781 000 €
THALES GEODIS FREIGHT AND LOGISTICS SA		FR11777200	592046361	31/12/2013	59	105 000 €	26 946 750 €
THALES INFORMATION SYSTEMS LIMITED		UK02597778	02937836	31/12/2012	47	500 £	47 855 000 £
SAS IMMEUBLES POUR L ELECTRONIQUE		FR03414111	393187398	31/12/2013	19	0 €	3 382 379 €
SOC MARCHAND BIENS ELECTRONIQUE SAS		FR05268087	422762138	31/12/2013	19	0 €	3 382 379 €
E-MERCHANT		FR16602558	432869907	30/04/2013	19	0 €	22 740 654 €
SAS CHATELLERAULT BRELANDIERE		FR01078491	323087478	31/12/2013	61	75 000 €	2 134 913 €
SAS PESSAC		FR03414109	393187331	31/12/2013	100	150 000 €	5 263 746 €
SAS SAINT HEAND		FR02851936	383143971	31/12/2013	100	150 000 €	1 517 803 €
GEESINK NORBA LIMITED		UK00068650	00306452	31/12/2013	37	145 000 £	21 631 055 £
THALES RAYTHEON SYSTEMS COMPANY SAS		FR04399168	410383467	31/12/2013	100	5 000 000 €	290 519 000 €
THALES CRYOGENIE SAS		FR01884661	342460094	31/12/2012	29	0 €	12 619 390 €
THALES SERVICES SAS		FR05628273	428677124	31/12/2013	94	2 850 000 €	363 878 787 €
NORBA AKTIEBOLAG		SE00557212	5560120882	31/12/2013	100	8 300 KSEK	103 216 KSEK
THALES TRAINING ET SIMULATION SAS		FR14063709	518929005	31/12/2013	81	950 000 €	104 791 929 €
GEESINK B.V.		NL02393781	39018794	31/12/2013	17	0 €	63 737 000 €
DIEHL COMFORT MODULES GMBH		DE01264858	HRB 46928	31/12/2012	94	990 000 €	156 510 259 €
MUTARES AG		DE02148253	HRB 172278	31/12/2012	94	4 100 000 €	354 003 545 €
THALES PROPERTY SERVICES SAS		FR02851929	383143872	31/12/2011	NC	-	5 397 899 €
JAPAN DIFFUSION		FR16602121	320268766	30/04/2013	4	0 €	16 332 599 €
THALES AVIONICS ELECTRICAL MOTORS SAS		FR02154285	349238782	31/12/2013	75	150 000 €	12 064 891 €
DIEHL ASSEKURANZ RÜCKVERSICHERUNGS- UND ...		DE00077939	HRB 2780	31/12/2009	NC	-	1 413 707 €
THALES UNIVERSITE		FR03873848	401432182	31/12/2013	75	150 000 €	23 300 516 €
THALES DEVELOPPEMENT COOPERATION SAS		FR08801977	488658022	31/12/2013	55	78 000 €	0 €
FERTIGUNGSTECHNIK WEIßENFELS GMBH		DE01132004	HRB 201679	31/12/2012	35	19 500 €	13 270 789 €
THALES MICROELECTRONICS SAS		FR12183024	313384695	31/12/2013	19	0 €	55 304 536 €
THALES INTERNATIONAL OFFSETS SAS		FR03537743	394892533	31/12/2013	100	25 000 €	1 690 474 €
THALES GLOBAL SERVICES SAS		FR05445610	424704963	31/12/2012	19	0 €	340 552 958 €
THALES SESO SAS		FR03694551	399064963	31/12/2013	68	150 000 €	12 425 304 €
ARTMADIS		FR04005624	403163173	31/12/2010	19	0 €	105 679 564 €
TDA ARMEMENTS SAS		FR03631234	398204172	31/12/2013	95	830 000 €	103 898 205 €
ASTRAC		FR17921631	484459912	31/12/2012	19	0 €	27 910 363 €
EUROPEAN SATELLITE NAVIGATION INDUSTRIES...		DE01120134	HRB 152518	12/11/2011	NC	-	-
BIONATICS		FR03954588	402505994	31/12/2013	19	0 €	453 293 €
SAS SARTROU		FR03415380	393203682	31/12/2013	19	0 €	0 €
APAVAD		FR16589185	484740808	31/03/2013	19	0 €	100 722 €
ZEHDENICK INNOVATIVE METALL- UND KUNSTST...		DE01701612	HRB 6921 NP	31/12/2012	37	25 000 €	-
NCIPHER LIMITED		UK03732976	04081720	31/12/2012	NC	-	266 000 £
GPE ETUDES RECHERC APPLIQU COMPATIBILI		FR01464355	331968990	31/12/2013	57	75 000 €	12 578 387 €
THALES APRIM SAS		FR03413402	393177092	31/12/2013	97	10 000 €	0 €
GERIS CONSULTANTS SAS		FR14019819	338606932	31/12/2013	55	20 000 €	1 621 549 €
KLANN PACKAGING GMBH		DE01557159	HRB 2663	31/12/2011	52	10 500 €	-
EVB TECHNIK GMBH		DE02179797	HRB 20224	31/12/2012	35	9 000 €	-
THALES SAFAREPONS SAS		FR12160235	956800486	31/12/2013	75	300 000 €	40 013 459 €
FINLAND PIPECOATING OY		FI01050453	21933985	31/12/2011	30	10 000 €	37 421 000 €
AEROLEC SAS		FR06364225	438476046	31/12/2013	65	21 500 €	16 042 249 €
DEKOR TRIM 01 AG		DE02029963	HRB 183946	31/12/2011	NC	-	-
DEKOR TRIM 04 AG		DE02120350	HRB 177582	31/12/2011	NC	-	-
SONNEN HOLDING AG		DE02167339	HRB 172326	10/10/2013	NC	-	-
MUTARES AUTOMOBILGUSS AG		DE02319891	HRB 179746	31/12/2011	18	0 €	-
MUTARES HOLDING-02 AG		DE02321526	HRB 179714	31/12/2011	20	0 €	-
HIB TRIM PART SOLUTIONS GMBH		DE02501992	HRB 718639	31/12/2011	46	18 000 €	-
MUTARES HOLDING-11 AG		DE04154795	HRB 17737	31/12/2011	16	0 €	-
EVB ENERGY SOLUTIONS GMBH		DE01338377	HRB 30457	31/12/2012	25	0 €	14 879 784 €
THALES INTERNATIONAL EUROPE B.V.		NL01433699	27179946	31/12/2012	80	2 450 000 €	10 299 132 €
MOSS S.A.S.		FR16194912	424703106	31/12/2012	75	750 000 €	38 557 944 €
THALES ASSUR GESTION RISQUES SAS		FR00881130	317662559	31/12/2013	75	150 000 €	6 154 258 €
THALES GROUP SAS		FR06068679	433426392	31/12/2011	NC	-	0 €
177 CENTELEC		FR06068809	433427739	31/12/2013	69	2 000 €	0 €
TRS PRIME SAS		FR10509238	509183588	31/12/2013	75	220 000 €	35 071 000 €
182CENTELEC SAS		FR10553118	509662094	31/12/2013	71	3 000 €	0 €
184CENTELEC SAS		FR11241879	518928973	31/12/2013	86	3 000 €	0 €
SYRACUSE SERVICES SAS		FR11245272	518965108	31/12/2013	82	3 000 €	0 €
EVB IT GMBH		DE00821704	HRB 37745	31/12/2012	42	5 000 €	-
COMET PENSIONSVERWALTUNGSGESELLSCHAFT MI...		DE01133580	HRB 27105	31/12/2011	29	30 000 €	-
D O N A R GESELLSCHAFT MIT BESCHRÄNKTER ...		DE01883724	HRB 19939	31/12/2011	43	25 000 €	-
HIB VERWALTUNGSGESELLSCHAFT MBH		DE01986584	HRB 703963	31/12/2011	NC	-	-
EUPEC PIPELINESERVICES GMBH		DE01003944	HRB 8760	31/12/2011	40	96 000 €	56 929 895 €
GMD BETEILIGUNGS GMBH		DE01705491	HRB 17831	31/12/2011	54	2 500 €	-
DIEHL RÖTHENBACH VERWALTUNGS GMBH		DE02115941	HRB 25017	31/12/2011	36	2 500 €	-
BLITZ 09-232 GMBH		DE02169959	HRB 13423	31/12/2011	36	5 000 €	-
DEKOR TRIM 02 GMBH		DE02171209	HRB 13476	31/12/2011	42	10 000 €	-
JUNGHANS FEINWERKTECHNIK VERWALTUNGS GMB...		DE00860485	HRB 481030	31/12/2011	NC	-	-
GEESINK VAST GOED B.V.		NL02394116	39026948	31/12/2013	90	1 600 000 €	-
GEESINK 1 B.V.		NL03049586	54579457	31/12/2012	52	10 500 €	-
GEESINK 2 B.V.		NL03049604	54579678	31/12/2012	60	2 500 €	-
FOTOVISTA B.V.		NL01272096	24364042	30/04/2013	NC	-	-
GEESINK 3 B.V.		NL03049625	54579937	31/12/2012	54	2 000 €	-
TNS MARS		FR09992625	501657985	31/12/2013	75	150 000 €	2 624 517 €
QUINTEC ASSOCIATES LIMITED		UK02038523	02375963	31/12/2012	76	775 000 £	18 708 000 £
MUTARES HOLDING-10 AG		DE04148045	HRB 17662	31/12/2011	15	0 €	-
MUTARES HOLDING-06 UG (HAFTUNGSBESCHRÄNK...		DE02705349	HRB 14610	31/12/2011	28	2 500 €	-
MUTARES HOLDING-07 UG (HAFTUNGSBESCHRÄNK...		DE02707418	HRB 14609	31/12/2011	28	2 500 €	-
THALES COMMUNICATIONS LIMITED		UK00942363	01272585	31/12/2012	NC	-	-
NORBA LIMITED		UK01814004	02149768	30/09/2010	NC	-	-
THALES MISSILE ELECTRONICS LIMITED		UK02664388	03004769	31/12/2012	92	4 450 000 £	39 925 000 £
THALES GROUND TRANSPORTATION SYSTEMS UK ...		UK05449942	05805963	31/12/2012	49	100 000 £	104 035 000 £
DIEHL RÖTHENBACH GMBH & CO. KG		DE02001837	HRA 14374	31/12/2008	60	6 500 €	-
THOMSON MCKINNON HOLDINGS LIMITED		UK01787621	02123222	30/06/1998	NC	-	-
THALES NEDERLAND B.V.		NL00250825	06061578	31/12/2013	63	9 350 000 €	405 882 000 €
C.M.T. MEDICAL TECHNOLOGIES		WW01328143	1328143	-	NC	-	-
ATIS PIPELINE		ES01954585	140515	31/12/2010	30	0 €	2 759 037 €
GEESINK GROUP B.V.		NL00768337	17011545	31/12/2012	20	0 €	59 945 000 €
CONCEPTION DE SYSTEMES DE DEFENSE		FR01699164	338859150	-	NC	-	-
AVIMO GROUP LIMITED		WW00003909	3909	-	NC	-	-
RUBBENS NV		BE00026894	404317378	31/08/2011	NC	-	7 958 692 €
COFISTOCK		FR05639347	428786677	-	20	0 €	-
PRESSE LABO SERVICE SPRL		BE00167269	430147686	30/04/2013	80	240 000 €	-
FORGES DE ZEEBRUGGE SA		BE00194158	434342145	31/12/2013	98	1 100 000 €	22 117 205 €
THALES BELGIUM SA		BE00219992	438546896	31/12/2013	98	1 150 000 €	19 099 120 €
THALES SUISSE SA		CH01995096	760787	-	94	1 500 000 CHF	-
THALES INFORMATION SYSTEMS AG		CH02051194	817236	-	NC	-	-
EGC STAVELOT NV		BE01242117	881426231	31/08/2011	NC	-	2 581 784 €
KLANN PACKAGING GMBH & CO. KG		DE01018431	HRA 7268	-	NC	-	-
DIEHL BGT DEFENCE GMBH & CO. KG		DE01309602	HRA 11839	-	NC	-	-
HOFFMANN WERKE J. OSWALD HOFFMANN GESELL...		DE01970079	HRB 43003	-	NC	-	-
DIEHL GAS METERING GMBH		DE02593893	HRB 4864	-	60	30 000 €	-
MUTARES HOLDING-13 AG		DE04199284	HRB 18385	-	NC	-	-
MUTARES HOLDING-16 AG		DE04199285	HRB 18386	-	NC	-	-
MUTARES HOLDING-18 AG		DE04249123	HRB 19011	-	43	2 500 €	-
MUTARES HOLDING-17 AG		DE16330510	HRB 19056	-	18	0 €	-
GEBRÜDER JUNGHANS GESELLSCHAFT MIT BESCH...		DE00730237	HRB 65 OB	-	NC	-	-
DIEHL FLENSBURG GESELLSCHAFT MIT BESCHRÄ...		DE00079500	HRB 1795 FL	-	NC	-	-
THALES E-SECURITY, INC		US08123280	US08123280	-	25	19 100 $	3 815 000 $
INFLIGHT ENTERTAINMENT, INC		US09218397	US09218397	-	4	300 $	0 $
NAVIGATION SOLUTIONS L.L.C		US17287777	US17287777	-	18	27 300 $	0 $
THALES AVIONICS INC		US17973308	US17973308	-	33	56 800 $	0 $
THALES NORTH AMERICA		US20439415	US20439415	-	NC	-	0 $
THALES ATM, INC		US22112442	US22112442	-	7	1 300 $	17 500 000 $
THE MILLER CO INC		US43120737	US43120737	-	78	750 000 $	50 000 000 $
THALES DEFENSE & SECURITY		US43354321	US43354321	-	8	1 800 $	3 000 000 $
CMT MEDICAL TECHNOLOGIES		US45105745	US45105745	-	64	23 900 $	2 392 000 $
THALES COMPONENTS CORP		US45546984	US45546984	-	21	1 000 000 $	200 000 000 $
THALES MACKAY RADIO INC		US46047599	US46047599	-	82	1 100 $	0 $
AATC ASIAN ATR TRAINING CENTRE LIMITED		-	-	-		-	-
AFRICAN DEFENCE SYSTEMS		-	-	-		-	-
AMPER PROGRAMAS DE ELETRONICA Y COMMUNIC...		-	-	-		-	-
C&T MEDICAL SOLUTIONS LIMITED PARTNERSHI...		-	-	-		-	-
C&T MEDICAL SOLUTIONS LTD		-	-	-		-	-
CAST IRON COMPONENTS GROUP GMBH I.L.		-	-	-		-	-
CASTELLI S.P.A.		-	-	-		-	-
DF ELASTOMER SOLUTIONS LDA		-	-	-		-	-
DIEHL AKO STIFTUNE & CO KG		-	-	-		-	-
DIEHL STIFTUNG & CO. KG		-	-	-		-	-
DRS SONAR SYSTEMS LLC		-	-	-		-	-
DT MICROCIRCUITS CORPORATION		-	-	-		-	-
ELASTOMER SOLUTIONS S.R.O.		-	-	-		-	-
ERICSSON THALES AEW SYSTEMS AB		-	-	-		-	-
FOTO PRENSA UC		-	-	-		-	-
FOTOVISTA SRL		-	-	-		-	-
GEESINK POLSKA SP.Z.O.O.		-	-	-		-	-
HOLZINDUSTRIE BRUCHSAL UNTERSTÜTZUNGSKAS...		-	-	-		-	-
ID MATICS INC		-	-	-		-	-
LASERFOT SA		-	-	-		-	-
LIVETV		-	-	-		-	-
MEDIBELL MEDICAL VISION TECHNOLOGIES LTD		-	-	-		-	-
MEDOX		-	-	-		-	-
MUTARES GEOINFORMATIONSSYSTEME UG (HAFTU...		-	-	-		-	-
MUTARES HOLDING-05 UG (HAFTUNGSBESCHRÄNK...		-	-	-		-	-
MUTARES SPHÄROGUSS AG I.L.		-	-	-		-	-
NORBA A/S		-	-	-		-	-
OMNISYS ENGENHARIA LDTA		-	-	-		-	-
PIXMANIA CESU LDA		-	-	-		-	-
PROJECT W HOLDING S.A.R.L.		-	-	-		-	-
SAMSUNG THALES COMPANY LTD		-	-	-		-	-
SAPURA THALES ELECTRONICS SDN BHD		-	-	-		-	-
SHANGHAI PUJIANG SMART CARD SYSTEMS CO. ...		-	-	-		-	-
SOCIEDAD ANONIMA DE ELECTRONICA SUBMARIN...		-	-	-		-	-
STADA PRODUCTION IRELAND LTD		-	-	-		-	-
STESA		-	-	-		-	-
TAMPA MICROWAVE		-	-	-		-	-
THALES AEROSPACE ASIA PTE LTD (SINGAPOUR...		-	-	-		-	-
THALES ATM CHINA		-	-	-		-	-
THALES ATM PROPERTY LIMITED		-	-	-		-	-
THALES AUSTRALIA AIR SYSTEMS		-	-	-		-	-
THALES AUSTRALIA HOLDING PTY LTD		-	-	-		-	-
THALES AUSTRALIA LTD		-	-	-		-	-
THALES AVIONICS ASIA PTE LTD		-	-	-		-	-
THALES CANADA INC		-	-	-		-	-
THALES COMMUNICATIONS GMBH		-	-	-		-	-
THALES COMMUNICATIONS LTDA		-	-	-		-	-
THALES COMMUNICATIONS SPA		-	-	-		-	-
THALES DEFENCE SYSTEMS PTY LTD		-	-	-		-	-
THALES DEFENSE LTD		-	-	-		-	-
THALES INTERNATIONAL AFRICA LTD		-	-	-		-	-
THALES INTERNATIONAL ASIA HOLDING PTE LT...		-	-	-		-	-
THALES INTERNATIONAL INDONESIA		-	-	-		-	-
THALES INTERNATIONAL JAPAN KK		-	-	-		-	-
THALES INTERNATIONAL KOREA LTD		-	-	-		-	-
THALES INTERNATIONAL LATINA AMERICA		-	-	-		-	-
THALES INTERNATIONAL MALAYSIA SDN BHD		-	-	-		-	-
THALES INTERNATIONAL MIDDLE EAST HOLDING		-	-	-		-	-
THALES INTERNATIONAL PHILIPPINES		-	-	-		-	-
THALES INTERNATIONAL SAUDI ARABIA		-	-	-		-	-
THALES INTERNATIONAL TURKEY		-	-	-		-	-
THALES LASER KK		-	-	-		-	-
THALES OPTRONICS (PAYS-BAS)		-	-	-		-	-
THALES RAIL SIGNALLING SOLUTIONS INC		-	-	-		-	-
THALES RAIL SIGNALLING SOLUTIONS SLU		-	-	-		-	-
THALES SECURITY SOLUTIONS & SERVICES COM...		-	-	-		-	-
THALES SECURITY SOLUTIONS & SERVICES SA		-	-	-		-	-
THALES SECURITY SOLUTIONS & SERVICES SPA		-	-	-		-	-
THALES SHANGHAI ELECTRON TUBES LTD		-	-	-		-	-
THALES SOUTH AFRICA PTY LTD		-	-	-		-	-
THALES TRAINING & SIMULATION PTY LTD		-	-	-		-	-
THALES TRANSPORT & SECURITY INC		-	-	-		-	-
THALES TRANSPORT & SECURITY LTD		-	-	-		-	-
THALES TRANSPORT SIGNALLING & SECURITY S...		-	-	-		-	-
THALES UNDERWATER SYSTEMS PTY LTD		-	-	-		-	-
THALES-RAYTHEON SYSTEMS COMPANY LLC		-	-	-		-	-
THOMSON COMPONENTS AND TUBES CORP.		-	-	-		-	-
VERKEHRSSYSTEME HOLDING AG I.I		-	-	-		-	-

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	31/12/2012	31/12/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	28/07/2014	30/12/2013	06/06/2012
Activity Code	2540Z	2540Z	2540Z
Employees	92	0	81

Active account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	3,221,774	11.5%	2,889,760	35.0%	2,141,192	82,960	3783.5%
- Intangible assets	1,341,669	0.1%	1,340,519	-0.5%	1,347,240	25,839.50	5092.3%
- Tangible assets	1,876,879	21.2%	1,548,641	95.1%	793,952	44,212.50	4145.1%
- Financial assets	3,225	437.5%	600	0%	0	1,277	152.5%
Net current assets	48,333,159	15.0%	42,045,672	2.8%	40,916,747	427,369.50	11209.5%
- Stocks	14,759,703	6.0%	13,925,531	35.6%	10,269,265	314,209	4597.4%
- Advanced payments	752,570	15.0%	943,948	106.5%	457,032	0	0%
- Receivables	32,820,584	20.8%	27,170,939	-9.9%	30,164,683	71,832.50	45590.4%
- Securities and cash	299	-94.3%	5,254	-79.6%	25,767	31,303	-99.0%
- Prepaid expenses	-	-	-	-	-	554	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	51,554,933	14.7%	44,935,436	4.4%	43,057,940	443,591.50	11522.2%

Passive Account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Shareholders' equity	6,943,783	30.9%	5,305,063	-22.7%	6,865,908	172,410.50	3927.5%
Share capital	1,710,000	0%	1,710,000	0%	1,710,000	60,000	2750.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	8,862,911	7.0%	8,282,122	2.0%	8,117,506	0	0%
Liabilities	35,748,237	14.0%	31,348,248	11.7%	28,074,525	292,324	12129.0%
- Financial liabilities	4,604	23.5%	3,728	0%	0	48,135.50	-90.4%
- Advanced payments received	23,369,588	5.2%	22,220,114	40.2%	15,843,772	0	0%
- Trade account payables	8,047,626	63.8%	4,913,051	-21.9%	6,288,593	84,127.50	9466.0%
- Tax and social liabilities	2,996,788	-21.9%	3,835,969	-34.8%	5,887,255	317,775	843.1%
- Other debts and fixed assets liabilities	185,263	-50.6%	375,386	583.7%	54,905	47,582	289.4%
Account regularization	1,144,368	0%	0	0%	0	0	0%
Total liabilities	51,554,931	14.7%	44,935,436	4.4%	43,057,939	443,591	11522.2%

Results

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Sales of Goods	35,824,723	10.1%	32,529,900	-21.7%	41,524,280	831,383	4209.1%
Net turnover	35,636,176	25.2%	28,458,392	-29.8%	40,530,769	827,290.50	4207.6%
- of which net export turnover	17,513,464	25.1%	13,999,437	13.3%	12,351,556	901.50	1942602.6%
Operating charges	31,611,233	6.3%	29,741,140	-13.0%	34,175,196	777,286.50	3966.9%
Operating profit/loss	4,213,490	51.1%	2,788,760	-62.1%	7,349,084	23,415	17894.8%
Financial income	11,869	-14.1%	13,814	-92.9%	193,414	222.50	5234.4%
Financial charges	6,843	-68.3%	21,579	28.6%	16,782	2,576.50	165.6%
Financial profit/loss	5,025	164.7%	-7,765	-104.4%	176,632	-486	1134.0%
Pretax net operating income	4,218,516	51.7%	2,780,995	-63.0%	7,525,716	22,970	18265.3%
Extraordinary income	76,322	-80.6%	394,183	-1.5%	399,990	2,560	2881.3%
Extraordinary charges	240,750	558.3%	36,573	-90.9%	403,822	572	41989.2%
Extraordinary profit/loss	-164,428	-146.0%	357,610	9432.2%	-3,832	0	0%
Net result	3,942,783	71.1%	2,304,063	-40.4%	3,864,909	17,553	22362.2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2013	31/12/2012	31/12/2011
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	Grand Total (I to VI)	Net	51,554,933	14.7%	44,935,436	4.4%	43,057,940
	Gross	CO	56,123,582	14.6%	48,981,229	4.9%	46,699,333
	Amortisation	1A	4,568,649	12.9%	4,045,793	11.1%	3,641,393

Non declared distributed capital (I)

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
	Total Active fixed asset (II)	Net	3,221,774	11.5%	2,889,760	35.0%	2,141,192
	Gross	BJ	5,302,181	13.2%	4,685,102	25.3%	3,738,987
	Amortisation	BK	2,080,407	15.9%	1,795,342	12.4%	1,597,795

Intangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	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	9,269	14.2%	8,119	-45.3%	14,840
	Gross	AF	195,048	6.0%	183,950	21.8%	151,050
	Amortisation	AG	185,779	5.7%	175,831	29.1%	136,210
	Goodwill	Net	1,332,400	0%	1,332,400	0%	1,332,400
	Gross	AH	1,332,400	0%	1,332,400	0%	1,332,400
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	1,341,669	0.1%	1,340,519	-0.5%	1,347,240

Tangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	137,787	2.5%	134,426	1899.8%	6,722
	Gross	AP	160,912	13.3%	142,076	1152.4%	11,344
	Amortisation	AQ	23,124	202.3%	7,650	65.5%	4,622
	Plant	Net	1,424,825	24.1%	1,148,419	75.2%	655,404
	Gross	AR	3,199,545	19.3%	2,682,731	30.9%	2,049,512
	Amortisation	AS	1,774,719	15.7%	1,534,312	10.1%	1,394,108
	Other tangible fixed assets	Net	129,397	14.8%	112,764	28.4%	87,815
	Gross	AT	226,181	18.8%	190,313	26.3%	150,670
	Amortisation	AU	96,784	24.8%	77,549	23.4%	62,855
	Fixed assets in construction	Net	184,870	20.8%	153,032	247.7%	44,011
	Gross	AV	184,870	20.8%	153,032	247.7%	44,011
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	1,876,879		1,548,641		793,952

Financial assets

			31/12/2013		31/12/2012		31/12/2011
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	3,225	437.5%	600	0%	0
	Gross	BH	3,225	437.5%	600	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		3,225		600		0

Current Assets (III)

			31/12/2013		31/12/2012		31/12/2011
	Total Assets	Net	48,333,159	15.0%	42,045,672	2.8%	40,916,747
	Gross	CJ	50,821,401	14.7%	44,296,122	3.1%	42,960,345
	Amortisation	CK	2,488,241	10.6%	2,250,450	10.1%	2,043,598

Stocks

			31/12/2013		31/12/2012		31/12/2011
	Raw materials	Net	7,870,779	36.0%	5,787,569	21.8%	4,752,467
	Gross	BL	9,258,697	31.9%	7,017,993	19.8%	5,860,470
	Amortisation	BM	1,387,917	12.8%	1,230,424	11.0%	1,108,003
	Work in progress (goods)	Net	2,027,825	-37.5%	3,242,387	-10.5%	3,623,393
	Gross	BN	2,027,825	-37.5%	3,242,387	-10.5%	3,623,393
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	3,390,276	-17.2%	4,095,489	163.0%	1,557,275
	Gross	BP	3,390,276	-17.2%	4,095,489	163.0%	1,557,275
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	1,470,823	83.8%	800,086	138.0%	336,130
	Gross	BR	2,373,264	46.3%	1,622,230	49.8%	1,082,602
	Amortisation	BS	902,441	9.8%	822,144	10.1%	746,472
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	14,759,703	6.0%	13,925,531	35.6%	10,269,265

Advance payments to suppliers

			31/12/2013		31/12/2012		31/12/2011
	Advance payments to suppliers	Net	752,570	-20.3%	943,948	106.5%	457,032
	Gross	BV	752,570	-20.3%	943,948	106.5%	457,032
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		31/12/2012		31/12/2011
	Trade accounts receivable	Net	5,552,056	47.6%	3,761,255	10.0%	3,418,895
	Gross	BX	5,749,938	45.2%	3,959,137	9.7%	3,608,018
	Amortisation	BY	197,882	0%	197,882	4.6%	189,123
	Other debtors	Net	27,262,962	16.5%	23,392,305	-12.5%	26,738,213
	Gross	BZ	27,262,962	16.5%	23,392,305	-12.5%	26,738,213
	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	32,815,018	20.8%	27,153,560	-10.0%	30,157,108

Divers

			31/12/2013		31/12/2012		31/12/2011
	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	299	-94.3%	5,254	-79.6%	25,767
	Gross	CF	299	-94.3%	5,254	-79.6%	25,767
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	299	-94.3%	5,254	-79.6%	25,767

Prepaid expenses

			31/12/2013		31/12/2012		31/12/2011
	Prepaid expenses	Net	5,566	-68.0%	17,379	129.4%	7,575
	Gross	CH	5,566	-68.0%	17,379	129.4%	7,575
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		31/12/2012		31/12/2011
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
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)

		31/12/2013		31/12/2012		31/12/2011
Grand Total (I to V)	EE	51,554,931	14.7%	44,935,436	4.4%	43,057,939

Shareholder Equity (I)

			31/12/2013		31/12/2012		31/12/2011
	Total shareholders' equity (Total I)	DL	6,943,783	30.9%	5,305,063	-22.7%	6,865,908
	Equity and shareholders' equity	DA	1,710,000	0%	1,710,000	0%	1,710,000
	Issue and merger premiums	DB	1,120,000	0%	1,120,000	0%	1,120,000
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	171,000	0%	171,000	0%	171,000
	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	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	3,942,783	71.1%	2,304,063	-40.4%	3,864,908
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2013		31/12/2012		31/12/2011
	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		31/12/2012		31/12/2011
	Total provisions for risks and charges (Total III)	DR	8,862,911	7.0%	8,282,122	2.0%	8,117,506
	Risk provisions	DP	8,045,665	7.6%	7,474,126	1.3%	7,381,402
	Reserves for charges	DQ	817,246	1.1%	807,996	9.8%	736,104

Liabilities (IV)

			31/12/2013		31/12/2012		31/12/2011
	Total Liabilities (Total IV)	EC	35,748,237	14.0%	31,348,248	11.7%	28,074,525
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	4,604	23.5%	3,728	0%	0
	Sundry loans and financial liabilities	DV	0	0%	0	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	23,369,588	5.2%	22,220,114	40.2%	15,843,772
	Trade accounts payables	DX	8,047,626	63.8%	4,913,051	-21.9%	6,288,593
	Tax and social security liabilities	DY	2,996,788	-21.9%	3,835,969	-34.8%	5,887,255
	Fixed asset liabilities	DZ	182,971	-43.4%	323,183	535.0%	50,892
	Other debts	EA	2,292	-95.6%	52,203	1200.8%	4,013

Translation loss (V)

		31/12/2013		31/12/2012		31/12/2011
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2013		31/12/2012		31/12/2011
Deferred income	EB	1,144,368	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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)

		31/12/2013		31/12/2012		31/12/2011
Operating result (Total I-II)	GG	4,213,490	51.1%	2,788,760	-62.1%	7,349,084

2 -Financial result(V - VI)

		31/12/2013		31/12/2012		31/12/2011
Financial result (Total V-VI)	GV	5,025	164.7%	-7,765	-104.4%	176,632

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

		31/12/2013		31/12/2012		31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	4,218,516	51.7%	2,780,995	-63.0%	7,525,716

4 -Extraordinary result(VII-VIII)

		31/12/2013		31/12/2012		31/12/2011
Extraordinary result (Total VII-VIII)	HI	-164,428	-146.0%	357,610	9432.2%	-3,832

Profit or loss

		31/12/2013		31/12/2012		31/12/2011
Profit or loss	HN	3,942,783	71.1%	2,304,063	-40.4%	3,864,909

Total Income (I+III+V+VII)

		31/12/2013		31/12/2012		31/12/2011
Total Income (I+III+V+VII)	HL	35,912,914	9.0%	32,937,897	-21.8%	42,117,684

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

		31/12/2013		31/12/2012		31/12/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	31,970,130	4.4%	30,633,833	-19.9%	38,252,775

Operating income(I)

		31/12/2013		31/12/2012		31/12/2011
Total operating income (Total I)	FR	35,824,723	10.1%	32,529,900	-21.7%	41,524,280

Operating income (details)

			31/12/2013		31/12/2012		31/12/2011
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	24,410,553	1.5%	24,051,433	-33.0%	35,893,833
	France	FD	8,387,410	-27.0%	11,492,148	-54.6%	25,337,496
	Export	FE	16,023,143	27.6%	12,559,285	19.0%	10,556,337
	Sale of services	FI	11,225,622	154.7%	4,406,959	-5.0%	4,636,936
	France	FG	9,735,301	228.1%	2,966,807	4.4%	2,841,717
	Export	FH	1,490,321	3.5%	1,440,152	-19.8%	1,795,219
	Net turnover	FL	35,636,176	25.2%	28,458,392	-29.8%	40,530,769
	France	FJ	18,122,711	25.3%	14,458,955	-48.7%	28,179,213
	Export	FK	17,513,464	25.1%	13,999,437	13.3%	12,351,556
	Stocked production	FM	-2,313,107	-185.8%	2,696,837	438.8%	-795,994
	Self-constructed assets	FN	2,714	-96.7%	83,102	0%	0
	Operating grants	FO	5,394	31.9%	4,090	141.7%	1,692
	Release of reserves and provisions	FP	2,493,547	93.7%	1,287,479	-28.0%	1,787,813
	Other income	FQ	0	0%	0	0%	0

Operating charges(II)

		31/12/2013		31/12/2012		31/12/2011
Total operating charges (Total II)	GF	31,611,233	6.3%	29,741,140	-13.0%	34,175,196

Exploitation charges

		31/12/2013		31/12/2012		31/12/2011
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	9,551,103	0.5%	9,500,521	0.1%	9,493,603
Change in stocks of raw materials	FV	-2,240,704	-93.6%	-1,157,523	-318.7%	529,388
Other external purchases and charges	FW	12,332,401	11.9%	11,020,492	-14.1%	12,822,343
Tax, duty and similar payments	FX	409,861	8.6%	377,313	-22.3%	485,911
Payroll	FY	4,948,129	-0.2%	4,957,646	22.8%	4,037,421
Social security costs	FZ	2,267,877	3.5%	2,190,378	12.2%	1,952,860

Depreciation

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	288,548	30.0%	221,934	41.6%	156,696
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	237,791	15.0%	206,852	-38.5%	336,504
Provisions for risks and charges	GD	2,911,066	60.3%	1,816,225	-49.3%	3,584,253

Other charges

		31/12/2013		31/12/2012		31/12/2011
Other charges	GE	905,158	49.0%	607,302	-21.8%	776,217

Operating charges (III-IV)

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
Total financial income (Total V)	GP	11,869	-14.1%	13,814	-92.9%	193,414
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	11,662	-25.1%	15,563	-90.9%	171,641
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	206	111.8%	-1,749	-109.8%	17,833
Net income from disposal of investment securities	GO	0	0%	0	0%	3,940

Financial Charge (VI)

			31/12/2013		31/12/2012		31/12/2011
	Total financial charge (Total VI)	GU	6,843	-68.3%	21,579	28.6%	16,782
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	150	51.5%	99	111.7%	-846
	Exchange losses	GS	6,693	-68.8%	21,480	21.9%	17,628
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary income (Total VII)	HD	76,322	-80.6%	394,183	-1.5%	399,990
	Extraordinary operating income	HA	04	-99.9%	4,392	439100%	01
	Extraordinary income from capital transactions	HB	0	0%	342	0%	0
	Released provisions and transferred charges	HC	76,318	-80.4%	389,449	-2.6%	399,989

Extraordinary charges(VIII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary charges (Total VIII)	HH	240,750	558.3%	36,573	-90.9%	403,822
	Extraordinary operating charges	HE	1,163	-89.7%	11,254	-68.3%	35,494
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	239,587	846.3%	25,319	-93.1%	368,328

Employee profit sharing(IX)

		31/12/2013		31/12/2012		31/12/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	710,893

Tax on profits(X)

		31/12/2013		31/12/2012		31/12/2011
Tax on profits (Total X)	HK	111,304	-86.7%	834,541	-71.7%	2,946,082

References

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	240,000
	Gross value at the end of period	OL	0	0%	0	0%	3,739,000

Research and development Charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	KD	0	0%	0	0%	1,478,000
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	24,000
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	19,000
	Gross value at the end of period	LW	0	0%	0	0%	1,483,000

Tangible fixed assets (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LN	0	0%	0	0%	2,208,000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	269,000
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	221,000
	Gross value at the end of period	NH	0	0%	0	0%	2,256,000

Fiancial assets (Total IV)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/12/2013		31/12/2012		31/12/2011
	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		31/12/2012		31/12/2011
	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		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	145,000
Increases		PF	0	0%	0	0%	10,000
Decreasess		PG	0	0%	0	0%	19,000
	Decreasess by budget item transfer	PH	0	0%	0	0%	136,000

Total fixed assets amotisation(Total III)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	1,536,000
Increases		QV	0	0%	0	0%	147,000
Decreases		QW	0	0%	0	0%	221,000
	Decreasess by budget item transfer	QX	0	0%	0	0%	1,462,000

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		31/12/2012		31/12/2011
	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		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7C	0	0%	0	0%	7,527,000
Increases		UB	0	0%	0	0%	4,100,000
Decreases		UC	0	0%	0	0%	1,656,000
	Value at the end of period	UD	0	0%	0	0%	9,971,000

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	5Z	0	0%	0	0%	5,821,000
Increases		TV	0	0%	0	0%	3,951,000
Decreases		TW	0	0%	0	0%	1,655,000
	Value at the end of period	TX	0	0%	0	0%	8,117,000

Total Provision for depreciation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7B	0	0%	0	0%	1,706,000
Increases		TY	0	0%	0	0%	149,000
Decreases		TZ	0	0%	0	0%	1,000
	Value at the end of period	UA	0	0%	0	0%	1,854,000

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	33,021,689	0%	0	0%	30,432,066
1 year at most	VU	33,021,689	0%	0	0%	30,432,066
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2013		31/12/2012		31/12/2011
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	3,225	0%	0	0%	0
Other financial assets (1 year at most)	UV	3,225	0%	0	0%	0

Receivables statement of assets

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	197,882	0%	0	0%	189,123
Other claims customer	UX	5,552,056	0%	0	0%	3,497,156
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	1,700	0%	0	0%	625
Social Security and other social organizations	UZ	5,374	0%	0	0%	529
Income taxes	VM	1,737,656	0%	0	0%	3,261,651
Value added tax	VB	1,347,781	0%	0	0%	913,438
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	120,998
Group and Associates	VC	24,167,698	0%	0	0%	22,410,536
Accounts receivable (including claims relating to the operation of pension titles)	VR	2,751	0%	0	0%	30,435

Prepaid

		31/12/2013		31/12/2012		31/12/2011
Prepaid	VS	5,566	0%	0	0%	7,575

State Debt

			31/12/2013		31/12/2012		31/12/2011
	Total debt (gross)	VY	12,378,647	0%	0	0%	12,309,013
1 year at most		VZ2	12,378,647	0%	0	0%	12,309,013
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		31/12/2012		31/12/2011
	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	4,604	0%	0	0%	0
1 year at most		VG2	4,604	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	8,047,626	0%	0	0%	6,288,593
1 year at most		8B2	8,047,626	0%	0	0%	6,288,593
More than 1 year and 5 years at most		8B3	8,047,626	0%	0	0%	6,288,593
	Personnel and associated accounts (gross)	8C1	1,312,111	0%	0	0%	1,641,957
1 year at most		8C2	1,312,111	0%	0	0%	1,641,957
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	890,988	0%	0	0%	773,660
1 year at most		8D2	890,988	0%	0	0%	773,660
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	613,058	0%	0	0%	3,330,322
1 year at most		8E2	613,058	0%	0	0%	3,330,322
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	1,945	0%	0	0%	1,411
1 year at most		VW2	1,945	0%	0	0%	1,411
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	178,684	0%	0	0%	139,904
1 year at most		VQ2	178,684	0%	0	0%	139,904
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	182,971	0%	0	0%	50,892
1 year at most		8J2	182,971	0%	0	0%	50,892
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	2,292	0%	0	0%	82,273
1 year at most		8K2	2,292	0%	0	0%	82,273
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	1,144,368	0%	0	0%	0
1 year at most		8L2	1,144,368	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
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

		31/12/2013		31/12/2012		31/12/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011
Average number of employees	YP	92	0%	0	0%	81

Groups and Shareholders

		31/12/2013		31/12/2012		31/12/2011
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		31/12/2012		31/12/2011	Sector Median2013
Fixed Asset Financing		3.37	2.7%	3.28	-26.0%	4.43	1.96	71.9%
Global Debt		361days	-9.1%	397days	59.4%	249days	175days	106.3%
Working Capital Fund overall net		127days	-5.9%	135days	18.4%	114days	105.50days	20.4%
Financial independence		150820.66%	6.0%	142303.19%	-	%	1144.67%	13075.9%
More ratios
Solvability		13.47%	14.1%	11.81%	-26.0%	15.95%	41.42%	-67.5%
Capacity debt futures		150820.66%	-	%	-	%	4717.92%	3096.8%
Coverage of current assets by net working capital overall		24.77%	2.5%	24.17%	-19.2%	29.90%	47.53%	-47.9%
General Liquidity		2.67	-		-	2.47	0.34	685.3%
Restricted Liquidity		2.67	-		-	2.47	0.84	217.9%

Management or rotation

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Need background in operating working capital		139days	3.0%	135days	18.4%	114days	68.50days	102.9%
Treasury		0days	0%	0days	0%	0days	1days	0%
Inventory turnover of goods		days	-	days	-	days	149.50days	-
Average length of credit granted to customers		58days	16.0%	50days	56.2%	32days	48.50days	19.6%
Average length of credit obtained suppliers		147days	61.5%	91days	-8.1%	99days	70days	110.0%
More ratios
Inventory turnover of raw materials in industrial enterprises		349days	31.2%	266days	19.8%	222days	208days	67.8%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	1797days	255.50days	-
Rotation tangible assets		%	-	%	-	1796.58%	655.60%	-

Profitability of the business

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Margin trading		0%	0%	0%	0%	0	1.71%	0%
Profitability of the business		17.01	11.2%	15.30	-40.5%	25.70	7.24%	134.9%
Net profit		11.06%	36.5%	8.10%	-15.1%	9.54%	4.12%	168.4%
More ratios
Growth rate of turnover (excluding VAT)		25.22%	184.7%	-29.79%	-987.2%	-2.74%	-4.43%	669.3%
Rates integration		38.40%	-8.0%	41.73%	0.1%	41.67%	31.17%	23.2%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		52.74%	-12.4%	60.19%	69.7%	35.47%	61.61%	-14.4%
Weight interests		0.02	-75.0%	0.08%	100%	0.04%	0.18%	-88.9%

Return on capital

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Cash flow from the overall profitability		12.55%	40.1%	8.96%	-17.3%	10.83%	7.23%	73.6%
Rates of economic profitability		87%	6.1%	82%	-46.1%	152%	15.30%	468.6%
Financial profitability		6943783%	30.9%	5305063%	-22.7%	6865908%	96408.50%	7102.5%
Return on investment		56.84%	29.7%	43.81%	-22.5%	56.54%	10.47%	442.9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Turnover	35,636,176	25.2%	28,458,392	-29.8%	40,530,769	827,290 €	4207.6%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	21,384.50 €	0%
	0.00 % CA	0%	0.00 % CA	0%	0.00 % CA	2.56 % CA	0%

Sale of goods produced	35,636,175	25.2%	28,458,392	-29.8%	40,530,769
+/- Stocked production	-2,313,107	-185.8%	2,696,837	438.8%	-795,994
+ Self-constructed assets	2,714	-96.7%	83,102	0%	0
Period production	33,325,782 €	6.7%	31,238,331 €	-21.4%	39,734,775 €	185,329.50 €	17881.9%
	93.52 % CA	-14.8%	109.77 % CA	12.0%	98.04 % CA	92.09 % CA	1.6%

Trading margin	0	0%	0	0%	0	21,384.50	0%
+ Period Production	33,325,782	6.7%	31,238,331	-21.4%	39,734,775	185,329.50	17881.9%
- Purchase of raw materials	9,551,103	0.5%	9,500,521	0.1%	9,493,603
+/- Change in stocks of raw materiels	-2,240,704	-93.6%	-1,157,523	-318.7%	529,388
- Other external purchases and charges	12,332,401	11.9%	11,020,492	-14.1%	12,822,343
Added value	13,682,982 €	15.2%	11,874,841 €	-29.7%	16,889,441 €	179,236 €	7534.1%
	38.40 % CA	-8.0%	41.73 % CA	0.1%	41.67 % CA	31.17 % CA	23.2%

Added value	13,682,982 €	15.2%	11,874,841 €	-29.7%	16,889,441 €	179,236 €	7534.1%
+ Operating grants	5,394	31.9%	4,090	141.7%	1,692
- Tax, duty and similar payments	409,861	8.6%	377,313	-22.3%	485,911
- Personal charges	7,216,006	1.0%	7,148,024	19.3%	5,990,281
Gross operating surplus	6,062,509 €	39.3%	4,353,594 €	-58.2%	10,414,941 €	31,292.50 €	19273.7%
	17.01 % CA	11.2%	15.30 % CA	-40.5%	25.70 % CA	7.24 % CA	134.9%

Gross operating surplus	6,062,509 €	39.3%	4,353,594 €	-58.2%	10,414,941 €	31,292.50 €	19273.7%
+ Release of reserves and provisions	2,493,547	93.7%	1,287,479	-28.0%	1,787,813
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	3,437,405	53.1%	2,245,011	-44.9%	4,077,453
- Other charges	905,158	49.0%	607,302	-21.8%	776,217
Operating result	4,213,493 €	51.1%	2,788,760 €	-62.1%	7,349,084 €	23,415 €	17894.8%
	11.82 % CA	20.6%	9.80 % CA	-45.9%	18.13 % CA	6.42 % CA	84.1%

Operating result	4,213,493 €	51.1%	2,788,760 €	-62.1%	7,349,084 €	23,415 €	17894.8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	11,869	-14.1%	13,814	-92.9%	193,414
- Financial charges	6,843	-68.3%	21,579	28.6%	16,782
Pre-tax result	4,218,519 €	51.7%	2,780,995 €	-63.0%	7,525,716 €	22,970 €	18265.3%
	11.84 % CA	21.2%	9.77 % CA	-47.4%	18.57 % CA	6.35 % CA	86.5%

Extraordinary income	76,322	-80.6%	394,183	-1.5%	399,990	2,560	2881.3%
- Extraordinary charges	240,750	558.3%	36,573	-90.9%	403,822
Extraordinary result	-164,428 €	-146.0%	357,610 €	9432.2%	-3,832 €	0 €	0%
	-0.46 % CA	-136.5%	1.26 % CA	12700%	0 % CA	0.02 % CA	-2400%

Pre-tax result	4,218,519 €	51.7%	2,780,995 €	-63.0%	7,525,716 €	22,970 €	18265.3%
Extraordinary result	-164,428 €	-146.0%	357,610 €	9432.2%	-3,832 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	710,893
- Tax on profits	111,304	-86.7%	834,541	-71.7%	2,946,082
Net result	3,942,787 €	71.1%	2,304,064 €	-40.4%	3,864,909 €	17,553.50 €	22361.5%
	11.06 % CA	36.5%	8.10 % CA	-15.1%	9.54 % CA	4.12 % CA	168.4%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

No social security and tax office preferential right to date

Trends

Profitability

Liquidity

Net worth

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

Company monitored since	08/09/2009
Status of Monitoring	No social security and tax office preferential right to date

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
29/07/2014	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 9018 - 433426558 RCS. JUNGHANS T2M SAS. Forme : Société par actions simplifiée (à associé unique). Adresse : route d'Ardon 45240 La Ferté Saint-Aubin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
24/07/2013	Bodacc C	Comptes annuels, consolidés et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 4846 - 433426558 RCS. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Adresse : route d'Ardon 45240 La ferté Saint-Aubin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
18/06/2012	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 8252 - 433426558 RCS. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Adresse : route d'Ardon 45240 La ferté Saint-Aubin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
23/02/2012	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 621 - 433 426 558 RCS Orléans. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Administration : Président : BOTTERO Alexandre Commissaire aux comptes titulaire : MAZARS & GUERARD (SA) Commissaire aux comptes suppléant : BARBIER FRINAULT & AUTRES ( SOCIETE CIVILE). Activité : . Commentaires : Modification survenue sur l'administration.
02/02/2012	JAL	Resignation / Revocation of the social representative
Journal de Gien (Le) Date de décision : 01/01/2012 La société 433426558 - JUNGHANS T2M SAS, ANCIEN CHEMIN D ARDON, 45240 LA FERTE SAINT AUBIN Fait l'objet du départ de Monsieur Pierre ANDURAND
02/02/2012	JAL	Appointment of the social representative
Journal de Gien (Le) Date de décision : 01/01/2012 Société faisant l'objet d'une nomination : 433426558 - JUNGHANS T2M SAS, ANCIEN CHEMIN D ARDON, 45240 LA FERTE SAINT AUBIN Nominé : Monsieur Alexandre BOTTERO, 75018 PARIS 18 En la fonction de : Président
03/09/2010	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 5091 - 433426558 RCS. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Adresse : route d'Ardon 45240 La ferté Saint-Aubin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
03/09/2009	Bodacc C	Comptes annuels et rapports
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 5115 - 433426558 RCS. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Adresse : route d'Ardon 45240 La ferté Saint-Aubin. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
23/03/2008	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 1789 - 433 426 558 RCS Orléans. JUNGHANS T2M SAS. Forme : Société par actions simplifiée. Commentaires : Modification survenue sur la dénomination.
13/02/2008	Bodacc B	Modification et mutation diverse
45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLEANS 2207 - 433 426 558 RCS Orléans. THALES MUNITRONICS & MICROTECHNICS SAS. Forme : Société par actions simplifiée. Capital : 1710000 EUR. Commentaires : Modification survenue sur le capital.
12/12/2007	Bodacc C	Avis de dépôt des comptes
4853 - 433 426 558. RCS Orléans THALES MUNITRONICS & MICROTECHNICS SAS. Forme: Société par actions simplifiée. Adresse du siège social: route d'Ardon, 45240 La ferté Saint-Aubin. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
30/04/2007	Bodacc B	Modifications et mutations diverses
974 - RCS Orléans B 433 426 558. RC 06-B 486. THALES MUNITRONICS & MICROTECHNICS S.A.S. Forme : S.A.S. Activité : dans tous pays, industrie, commerce de toutes espèces de matériel électrique, électronique ou mécanique achat, fabrication, vente de tous produits, de composants et de matières susceptibles d'être utilisés dans le cadre des activités ci-dessus définies. Fabrication d'armement . Adresse du siège social : route d'Ardon,, 45240 Commentaires : modification survenue sur l'activité. Date d'effet : 18 septembre 2006.
18/08/2006	Bodacc B	Modifications et mutations diverses
0884 - RCS Orléans B 433 426 558. RC 06-B 486. THALES MUNITRONICS & MICROTECHNICS S.A.S. Forme : S.A.S. Capital : 1 630 000 euros. Adresse du siège social : route d'Ardon,, 45240 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 30 juin 2006.
09/07/2006	Bodacc B	Modifications et mutations diverses
0689 - RCS B 433 426 558. RC 06-B 486. THALES MUNITRONICS & MICROTECHNICS S.A.S. Forme : S.A.S. Capital : 40 000 euros. Adresse du siège social : route d'Ardon, 45240 La Ferté-Saint-Aubin. Administration : président : ANDURAND (Pierre) (Nom d'usage : ANDURAND). Commissaire aux comptes titulaire : MAZARS & GUERARD. Commissaire aux comptes suppléant : BARBIER FRINAULT & AUTRES (S.C.). Etablissement principal - Activité : dans tous pays, industrie et commerce de toutes espèces de matériel électrique, électronique ou mécanique achat, fabrication, vente de tous produits, de composants et de matières susceptibles d'être utilisés dans le cadre des activités ci-dessus définies . Adresse : route d'Ardon, 45240 La Ferté-Saint-Aubin. Commentaires : immatriculation d'une personne morale suite au transfert du siège hors ressort. Date de début d'activité : 25 septembre 2003.
20/06/2006	Bodacc C	Avis de dépôt des comptes
2861 - RCS Nanterre B 433 426 558. RC 03-B 5267. THALES MUNITRONICS & MICROTECHNICS SAS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 45, rue de Villiers,92200 Neuilly-sur-Seine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
13/06/2006	Bodacc B	Modifications et mutations diverses
3137 - RCS Nanterre B 433 426 558. RC 03-B 5267. THALES MUNITRONICS & MICROTECHNICS S.A.S. Forme : S.A.S. Activité : dans tous pays, industrie, commerce de toutes espèces de matériel électrique, électronique ou mécanique achat, fabrication, vente de tous produits, composants et matières susceptibles d'être utilisés dans le cadre des activités ci-dessus définies . Commentaires : modification survenue sur la dénomination, l'activité et l'administration. Administration : président partant : ANDRIEUX (Eric). Nomination du président : ANDURAND (Pierre).
31/05/2006	Bodacc B	Modifications et mutations diverses
2779 - RCS Nanterre B 433 426 558. RC 03-B 5267. 173CENTELEC S.A.S. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : ROUVIER (Dominique) (Nom d'usage : CHABRIOL). Nomination du président : ANDRIEUX (Eric).
20/10/2005	Bodacc C	Avis de dépôt des comptes
3755 - RCS Nanterre B 433 426 558. RC 03-B 5267. 173centelec SAS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 45, rue de Villiers,92200 Neuilly-sur-Seine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
16/11/2003	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 433426558 RC 03-B 5267 173 CENTELEC S.A.S. Forme : S.A.S. Capital : 40 000 euros. Activité : dans tous pays, industrie, commerce de toutes sortes de matériel électrique, électronique ou mécanique achat, fabrication, vente de tous produits, de composants et de matières susceptibles d'etre utilisés dans le cadre des activités ci-dessus définies. Adresse du siège social : 45 rue de Villiers, 92200 Neuilly-sur- Seine. Administration : président : ROUVIER (Dominique) ( Nom d'usage : CHABRIOL). Commissaire aux comptes titulaire : MAZARS ET GUERARD. Commissaire aux comptes suppléant : BARBIER FRINAULT ET AUTRES. Commentaires : cette société transfère son siège social du 173 boulevard Haussmann, 75008 Paris. Date d'effet : 25 septembre 2003.
22/11/2000	Bodacc A	Création d'établissement
RCS Paris B 433426558 RC 00-B 18071 173 CENTELEC SOCIETE PAR ACTIONS SIMPLIFIEE. Forme : S.A.S. Capital : 40 000 euros. Adresse du siège social : 173 boulevard Haussmann, 75008 Paris. Administration : président : CHABRIOL, née ROUVIER ( Dominique). Commissaire aux comptes titulaire : MAZARS ET GUERARD S.A. Commissaire aux comptes suppléant : BARBIER FRINAULT ET AUTRES Cette société se constitue , mais n'exploite provisoirement aucun établissement.

Company events history

Date	Description
29/07/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/07/2014	Bodacc C : Deposit accounts notice
31/12/2013	New accounts available
31/12/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
26/11/2013	Invalid balance sheet
24/07/2013	Bodacc C : Deposit accounts notice
31/12/2012	New accounts available
04/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/06/2012	Bodacc C : Deposit accounts notice
23/02/2012	Bodacc B: Various editing or changing
08/02/2012	New chairman (CEO, CoB)
08/02/2012	Amendment
02/02/2012	Legal Gazette: Resignation / Revocation of the social representative
01/01/2012	Legal Gazette: Appointment of the social representative
31/12/2011	New accounts available
28/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/07/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
03/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
08/09/2009	Collection of preferential rights activated for this company
03/09/2009	Bodacc C : Deposit accounts notice
23/03/2008	Bodacc B: Various editing or changing
23/03/2008	New Bodacc B ads detected
20/03/2008	Updated articles of association
20/03/2008	Minutes of general meeting of shareholders
20/03/2008	Acte modificatif
20/03/2008	Statuts mis à jour
20/03/2008	New company name
20/03/2008	Changement de dénomination sociale
20/03/2008	Private document
06/03/2008	Modification to Company Identifier
06/03/2008	Update of Company Name
13/02/2008	New Bodacc B ads detected
13/02/2008	Bodacc B: Various editing or changing
17/01/2008	Minutes of general meeting of shareholders
17/01/2008	Statuts mis à jour
17/01/2008	Fund deposit certificate
17/01/2008	Updated articles of association
17/01/2008	Rapport des Commissaires ou du Gérant
17/01/2008	Private document
17/01/2008	Capital increase
17/01/2008	Augmentation de Capital
17/01/2008	Audit or Management Report
17/01/2008	Acte modificatif
17/01/2008	Certificat de dépôt des fonds
14/12/2007	Other modification of Establishment
31/12/2006	New accounts available
20/07/2006	Partial contribution
20/07/2006	Fusion
20/07/2006	Augmentation de Capital
20/07/2006	Capital increase
20/07/2006	Private document
20/07/2006	Déclaration de conformité
20/07/2006	Minutes of general meeting of shareholders
20/07/2006	Statuts mis à jour
20/07/2006	Updated articles of association
20/07/2006	Acte modificatif
21/06/2006	Audit or Management Report
21/06/2006	Private document
21/06/2006	Rapport des Commissaires ou du Gérant
02/06/2006	Minutes of general meeting of shareholders
02/06/2006	PV d'Assemblée
02/06/2006	Registration after transfer
02/06/2006	Private document
02/06/2006	Statuts mis à jour
02/06/2006	Updated articles of association
02/06/2006	Transfert du Siège dans le ressort du Tribunal de Commerce
24/05/2006	Planned merger
24/05/2006	Private document
24/05/2006	Apport Partiel
23/05/2006	New company name
23/05/2006	Acte modificatif
23/05/2006	Changement de Président (PDG, PCA)
23/05/2006	Minutes of general meeting of shareholders
23/05/2006	Updated articles of association
23/05/2006	Statuts mis à jour
23/05/2006	Private document
23/05/2006	Appointment/resignation of company officers
23/05/2006	Change to corporate purpose
23/05/2006	Changement de dénomination sociale
23/05/2006	Modification de l'objet social
15/05/2006	Minutes of general meeting of shareholders
15/05/2006	Appointment/resignation of company officers
15/05/2006	Private document
15/05/2006	Changement de Président (PDG, PCA)
15/05/2006	Réduction de Capital
15/05/2006	Capital increase
15/05/2006	Augmentation de Capital
15/05/2006	Fund deposit certificate
15/05/2006	Acte modificatif
15/05/2006	Audit or Management Report
12/04/2006	Acte modificatif
12/04/2006	Application and court order
12/04/2006	Requête et Ordonnance
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
04/11/2003	Acte modificatif
04/11/2003	Transfert du Siège dans le ressort du Tribunal de Commerce
04/11/2003	Transfert du Siège hors du ressort du Tribunal de Commerce
04/11/2003	Immatriculation suite à transfert
04/11/2003	PV d'Assemblée
04/11/2003	Acte sous seing privé
04/11/2003	Statuts mis à jour
03/11/2000	Certificat de dépôt des fonds
03/11/2000	Statuts
03/11/2000	Formation de Société
03/11/2000	Acte sous seing privé

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.80
UK Pound	1	Rs.100.06
Euro	1	Rs.78.46

INFORMATION DETAILS

Analysis Done by :	RAS
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.