MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	EFFBE-GAMMA SAS
Registered Office :	Gamma-Amortisseurs, 7 Rue Du 8, Mai 1945, 94470 Boissy Saint Leger
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	February 1955
Com. Reg. No.:	0552029225
Legal Form :	Simplified Joint Stock Company
Line of Business :	Wholesale (business to business) supplies and various industrial equipment’s à © (4669B)
No of Employees :	10 to 19 Employees

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – 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

Name

EFFBE-GAMMA SAS

SIRET

552 029 225 00034

Personal comment

company summary

EUR VAT Number		FR91552029225
Activity (APE)	Wholesale (business to business) supplies and various industrial equipments à © (4669B)		Legal form	Simplified joint stock company
Phone	01 56 32 02 21		RCS Registration	RCS Creteil 0 552 029 225
Fax			Share capital	155,000 Euros
Address	EFFBE-GAMMA SAS GAMMA-AMORTISSEURS 7 RUE DU 8 MAI 1945 94470 BOISSY SAINT LEGER		Incorporated Date	02/1955
Nationality	France		Status	Economically active

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number
EFFBE-WERK FRITZ BRUMME GMBH	-

Current Directors

2

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	3,252,969 €	3,325,311 €	2,859,735 €
Gross Operating Surplus	13.51 % Turnover	16.39 % Turnover	11.97 % Turnover
Shareholders’ equity	1,241,102 €	957,358 €	960,706 €
Net result	283,744 €	346,652 €	199,242 €
Employees	10 to 19 employees	-	-

company details

COMPANY DETAILS

Activity (APE)	Wholesale (business to business) supplies and various industrial equipments à © (4669B)
RCS Registration	RCS Creteil 0 552 029 225	Share capital	155,000 Euros
Registration Court	Creteil (94)	Legal form	Simplified joint stock company
Court Registry Number	20 0 3B00997	EUR VAT Number	FR91552029225
Incorporation Date	02/1955	Formation Date	01/1980
Deregistration Date		Last account Date	31/12/2013
Nationality	France

ESTABLISHMENT DETAILS

Activity (APE)	Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)	Business Pages FT®	FOURNITURES ET MATERIEL INDUSTRIELS
Postal Address	EFFBE-GAMMA SAS GAMMA-AMORTISSEURS 7 RUE DU 8 MAI 1945 94470 BOISSY SAINT LEGER	Trading Address	7 RUE DU 8 MAI 1945 94470 BOISSY SAINT LEGER
Telephone	01 56 32 02 21
Fax

Type	Head office	Status	Economically active
Formation Date	02/2003	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Val-de-Marne (94)	Region	Ile-de-France
District	1	Area	02
City	BOISSY SAINT LEGER	Size of urban area	Paris conglomeration

OTHER ESTABLISHMENTS

Branches	1 branch entities in this company
Head office	> EFFBE-GAMMA SAS <<<  - Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)  in BOISSY SAINT LEGER  (94470)
Secondary establishments	>  EFFBE-GAMMA SAS  - Commerce de gros de fournitures et équipements industriels divers (518M)  in SURESNES  (92150)

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

10 to 19 employees

Company workforce

10 to 19 employees

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	06/04/2014	06/06/2013	26/07/2012
Activity Code	4669B	4669B	4669B
Employees	0	15	0

ACTIVE ACCOUNT

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	92,994	-5.8%	98,743	38.8%	71,163	36,706	153.3%
- Intangible assets	0	0%	93	-26.8%	127	0	0%
- Tangible assets	69,448	-7.5%	75,104	64.5%	45,658	16,084	331.8%
- Financial assets	23,546	0%	23,546	-7.2%	25,378	2,376.50	890.8%
Net current assets	1,631,888	24.6%	1,309,390	-3.3%	1,354,139	445,720.50	266.1%
- Stocks	332,473	-7.5%	359,572	2.7%	350,248	60,004.50	454.1%
- Advanced payments	0	24.6%	0	0%	0	0	0%
- Receivables	1,284,181	41.9%	905,152	58.5%	571,002	215,340.50	496.3%
- Securities and cash	15,234	-65.9%	44,666	-89.7%	432,889	71,748.50	-78.8%
- Prepaid expenses	-	-	-	-	-	366.50	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	1,724,880	22.5%	1,408,134	-1.2%	1,425,302	536,561	221.5%

PASSIVE ACCOUNT

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Shareholders' equity	1,241,102	29.6%	957,358	-0.3%	960,706	191,779	547.2%
Share capital	155,000	0%	155,000	0%	155,000	37,062.50	318.2%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	483,779	7.3%	450,777	-3.0%	464,596	269,346	79.6%
- Financial liabilities	0	0%	0	0%	0	21,689	0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	220,978	36.4%	162,051	-43.9%	288,727	112,468.50	96.5%
- Tax and social liabilities	262,741	-9.0%	288,659	64.1%	175,869	74,843.50	251.1%
- Other debts and fixed assets liabilities	60	-10.4%	67	0%	0	3,971.50	-98.5%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	1,724,880	22.5%	1,408,134	-1.2%	1,425,302	536,560	221.5%

RESULTS

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Sales of Goods	3,265,236	-2.3%	3,341,473	14.9%	2,908,062	944,062	245.9%
Net turnover	3,252,969	-2.2%	3,325,311	16.3%	2,859,735	931,970.50	249.0%
- of which net export turnover	746,887	-25.3%	999,620	31.5%	760,327	0	0%
Operating charges	2,834,287	0.6%	2,818,105	8.7%	2,593,311	909,140.50	211.8%
Operating profit/loss	430,949	-17.7%	523,368	66.3%	314,751	27,770.50	1451.8%
Financial income	1,437	-86.0%	10,239	20.9%	8,466	210.50	582.7%
Financial charges	4,870	-47.7%	9,313	-39.0%	15,272	1,362.50	257.4%
Financial profit/loss	-3,433	-470.7%	926	113.6%	-6,806	-181.50	-1791.5%
Pretax net operating income	427,516	-18.5%	524,294	70.3%	307,945	27,552	1451.7%
Extraordinary income	0	0%	1,976	0%	0	287.50	0%
Extraordinary charges	1,738	-8.6%	1,901	2504.1%	73	320.50	442.3%
Extraordinary profit/loss	-1,738	-2417.3%	75	202.7%	-73	0	0%
Net result	283,744	-18.1%	346,652	74.0%	199,242	24,324	1066.5%

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	1,724,880	22.5%	1,408,134	-1.2%	1,425,302
Gross	CO	2,501,468	15.3%	2,169,774	0.2%	2,164,568
Amortisation	1A	776,588	2.0%	761,640	3.0%	739,266

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	92,994	-5.8%	98,743	38.8%	71,163
Gross	BJ	832,208	1.3%	821,434	5.2%	781,005
Amortisation	BK	739,214	2.3%	722,691	1.8%	709,842

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	0	0%	93	-26.8%	127
	Gross	AF	46,748	0%	46,748	3.1%	45,348
	Amortisation	AG	46,748	0.2%	46,655	3.2%	45,221
	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	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	0	0%	93	-26.8%	127

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	10,520	12.0%	9,394	-29.6%	13,339
Gross	AP	327,825	1.2%	324,026	0%	324,026
Amortisation	AQ	317,305	0.8%	314,632	1.3%	310,687
Plant	Net	33,439	-19.3%	41,422	67.4%	24,741
Gross	AR	370,294	1.5%	364,691	6.5%	342,499
Amortisation	AS	336,855	4.2%	323,269	1.7%	317,758
Other tangible fixed assets	Net	25,489	4.9%	24,288	220.5%	7,578
Gross	AT	63,490	2.2%	62,118	43.0%	43,449
Amortisation	AU	38,001	0.5%	37,830	5.5%	35,871
Fixed assets in construction	Net	0	0%	0	0%	0
Gross	AV	0	0%	0	0%	0
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	69,448		75,104		45,658

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	305	0%	305	0%	305
Gross	CU	305	0%	305	0%	305
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	-305	0%	-305	0%	-305
Gross	BD	0	0%	0	0%	0
Amortisation	BE	305	0%	305	0%	305
Loans	Net	8,368	0%	8,368	-18.0%	10,200
Gross	BF	8,368	0%	8,368	0%	10,200
Amortisation	BG	0		0		0
Other financial assets	Net	15,178	0%	15,178	0%	15,178
Gross	BH	15,178	0%	15,178	0%	15,178
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		23,546		23,546		25,378

CURRENT ASSETS (III)

		31/12/2013		31/12/2012		31/12/2011
Total Assets	Net	1,631,888	24.6%	1,309,390	-3.3%	1,354,139
Gross	CJ	1,669,262	23.8%	1,348,339	-2.5%	1,383,563
Amortisation	CK	37,374	-4.0%	38,949	32.4%	29,424

STOCKS

		31/12/2013		31/12/2012		31/12/2011
Raw materials	Net	236,712	-10.3%	263,754	1.9%	258,868
Gross	BL	268,569	-6.2%	286,456	3.0%	278,041
Amortisation	BM	31,857	40.3%	22,702	18.4%	19,173
Work in progress (goods)	Net	33,586	0.8%	33,316	-2.3%	34,108
Gross	BN	33,586	0.8%	33,316	-2.3%	34,108
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	62,175	-0.5%	62,502	9.1%	57,272
Gross	BR	67,692	-14.0%	78,749	16.6%	67,523
Amortisation	BS	5,517	-66.0%	16,247	58.5%	10,251
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	332,473	-7.5%	359,572	2.7%	350,248

ADVANCE PAYMENTS TO SUPPLIERS

		31/12/2013		31/12/2012		31/12/2011
Advance payments to suppliers	Net	0	0%	0	0%	0
Gross	BV	0	0%	0	0%	0
Amortisation	BW	0	0%	0	0%	0

DEBTORS

		31/12/2013		31/12/2012		31/12/2011
Trade accounts receivable	Net	604,457	39.0%	434,890	-15.7%	515,690
Gross	BX	604,457	39.0%	434,890	-15.7%	515,690
Amortisation	BY	0	0%	0	0%	0
Other debtors	Net	671,968	45.4%	462,216	1125.7%	37,710
Gross	BZ	671,968	45.4%	462,216	1125.7%	37,710
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	1,276,425	42.3%	897,106	62.1%	553,400

DIVERS

		31/12/2013		31/12/2012		31/12/2011
Investment securities	Net	4,176	0%	4,176	0%	4,176
Gross	CD	4,176	0%	4,176	0%	4,176
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	11,058	-72.7%	40,490	-90.6%	428,713
Gross	CF	11,058	-72.7%	40,490	-90.6%	428,713
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	15,234	-65.9%	44,666	-89.7%	432,889

PREPAID EXPENSES

		31/12/2013		31/12/2012		31/12/2011
Prepaid expenses	Net	7,756	-3.6%	8,046	-54.3%	17,602
Gross	CH	7,756	-3.6%	8,046	-54.3%	17,602
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	1,724,880	22.5%	1,408,134	-1.2%	1,425,302

SHAREHOLDER EQUITY (I)

		31/12/2013		31/12/2012		31/12/2011
Total shareholders' equity (Total I)	DL	1,241,102	29.6%	957,358	-0.3%	960,706
Equity and shareholders' equity	DA	155,000	0%	155,000	0%	155,000
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	15,500	0%	15,500	0%	15,500
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	786,858	78.7%	440,206	-25.5%	590,964
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	283,744	-18.1%	346,652	74.0%	199,242
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	0	0%	0	0%	0
Risk provisions	DP	0	0%	0	0%	0
Reserves for charges	DQ	0	0%	0	0%	0

LIABILITIES (IV)

		31/12/2013		31/12/2012		31/12/2011
Total Liabilities (Total IV)	EC	483,779	7.3%	450,777	-3.0%	464,596
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	0	0%	0	0%	0
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
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	220,978	36.4%	162,051	-43.9%	288,727
Tax and social security liabilities	DY	262,741	-9.0%	288,659	64.1%	175,869
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	60	-10.4%	67	0%	0

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	0	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%	450,776	-3.0%	464,596
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	430,949	-17.7%	523,368	66.3%	314,751

2 - Financial result (V - VI)

		31/12/2013		31/12/2012		31/12/2011
Financial result (Total V-VI)	GV	-3,433	-470.7%	926	113.6%	-6,806

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	427,516	-18.5%	524,294	70.3%	307,945

4 - Extraordinary result (VII-VIII)

		31/12/2013		31/12/2012		31/12/2011
Extraordinary result (Total VII-VIII)	HI	-1,738	-2417.3%	75	202.7%	-73

PROFIT OR LOSS

		31/12/2013		31/12/2012		31/12/2011
Profit or loss	HN	283,744	-18.1%	346,652	74.0%	199,242

TOTAL INCOME (I+III+V+VII)

		31/12/2013		31/12/2012		31/12/2011
Total Income (I+III+V+VII)	HL	3,266,673	-2.6%	3,353,688	15.0%	2,916,528

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	2,982,930	-0.8%	3,007,036	10.7%	2,717,286

OPERATING INCOME (I)

		31/12/2013		31/12/2012		31/12/2011
Total operating income (Total I)	FR	3,265,236	-2.3%	3,341,473	14.9%	2,908,062

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	3,208,546	-1.5%	3,257,033	15.3%	2,825,378
France	FD	2,462,527	8.9%	2,260,270	8.8%	2,076,634
Export	FE	746,019	-25.2%	996,763	33.1%	748,744
Sale of services	FI	44,423	-34.9%	68,278	98.7%	34,357
France	FG	43,555	-33.4%	65,421	187.3%	22,774
Export	FH	868	-69.6%	2,857	-75.3%	11,583
Net turnover	FL	3,252,969	-2.2%	3,325,311	16.3%	2,859,735
France	FJ	2,506,082	7.8%	2,325,691	10.8%	2,099,408
Export	FK	746,887	-25.3%	999,620	31.5%	760,327
Stocked production	FM	-10,789	-203.4%	10,435	-18.3%	12,770
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	2,000
Release of reserves and provisions	FP	16,948	1102.0%	1,410	-93.3%	21,046
Other income	FQ	6,108	41.5%	4,317	-65.5%	12,511

OPERATING CHARGES (II)

		31/12/2013		31/12/2012		31/12/2011
Total operating charges (Total II)	GF	2,834,287	0.6%	2,818,105	8.7%	2,593,311

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	769,672	-12.3%	878,113	11.3%	788,890
Change in stocks of raw materials	FV	17,887	312.6%	-8,415	74.1%	-32,455
Other external purchases and charges	FW	894,882	-3.2%	924,671	5.5%	876,071
Tax, duty and similar payments	FX	41,863	8.1%	38,719	8.9%	35,568
Payroll	FY	708,996	9.8%	645,895	12.2%	575,787
Social security costs	FZ	369,315	18.5%	311,706	8.1%	288,416

DEPRECIATION

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	21,761	21.7%	17,886	-43.4%	31,584
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	9,895	3.9%	9,524	-67.6%	29,424
Provisions for risks and charges	GD	0	0%	0	0%	0

OTHER CHARGES

		31/12/2013		31/12/2012		31/12/2011
Other charges	GE	16	166.7%	06	-76.9%	26

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	1,437	-86.0%	10,239	20.9%	8,466
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	4,550
Other interest and similar income	GL	1,229	131.9%	530	-82.0%	2,938
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	208	-97.9%	9,709	892.7%	978
Net income from disposal of investment securities	GO	0	0%	0	0%	0

FINANCIAL CHARGE (VI)

		31/12/2013		31/12/2012		31/12/2011
Total financial charge (Total VI)	GU	4,870	-47.7%	9,313	-39.0%	15,272
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	216	-97.6%	8,861	518.4%	1,433
Exchange losses	GS	4,654	929.6%	452	-96.7%	13,839
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	0	0%	1,976	0%	0
Extraordinary operating income	HA	0	0%	1,976	0%	0
Extraordinary income from capital transactions	HB	0	0%	0	0%	0
Released provisions and transferred charges	HC	0	0%	0	0%	0

EXTRAORDINARY CHARGES (VIII)

		31/12/2013		31/12/2012		31/12/2011
Total extraordinary charges (Total VIII)	HH	1,738	-8.6%	1,901	2504.1%	73
Extraordinary operating charges	HE	1,738	2480.8%	-73	-200%	73
Extraordinary charges from capital transactions	HF	0	0%	1,974	0%	0
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

EMPLOYEE PROFIT SHARING (IX)

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

TAX ON PROFITS (X)

		31/12/2013		31/12/2012		31/12/2011
Tax on profits (Total X)	HK	142,035	-20.1%	177,717	63.6%	108,630

REFERENCES

		31/12/2013		31/12/2012		31/12/2011
Of which equipment leases	HP	15,487	0%	0	0%	15,338
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	1,800
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%	1,817
Decreasess by transfers	OK2	5,238	-40.8%	8,843	-99.1%	976,642
Gross value at the end of period	OL	832,208	1.3%	821,434	5.2%	781,005

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	46,748	3.1%	45,348	4.6%	43,348
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	1,400	-30.0%	2,000
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	46,748	0%	46,748	3.1%	45,348

TANGIBLE FIXED ASSETS (TOTAL III)

		31/12/2013		31/12/2012		31/12/2011
Gross value at begin of period	LN	750,835	5.8%	709,975	1.0%	702,724
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	16,013	-66.6%	47,872	347.0%	10,709
Decreasess by budget item transfer	NG1	0	0%	0	0%	1,817
Decreasess by transfers	NG2	5,238	-25.3%	7,010	326.9%	1,642
Gross value at the end of period	NH	761,610	1.4%	750,837	5.8%	709,974

FINANCIAL ASSETS (TOTAL IV)

		31/12/2013		31/12/2012		31/12/2011
Gross value at begin of period	LQ	23,850	-7.1%	25,683	-97.4%	1,000,683
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%	1,833	-99.8%	975,000
Gross value at the end of period	NK	23,850	0%	23,850	-7.1%	25,683

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	46,655	3.2%	45,221	11.3%	40,647
Increases		PF	93	-93.5%	1,434	-68.6%	4,573
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	46,748	0.2%	46,655	3.2%	45,220

TOTAL FIXED ASSETS AMOTISATION (TOTAL III)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	QU	675,731	1.7%	664,316	4.0%	638,947
Increases		QV	21,669	31.7%	16,450	-39.1%	27,010
Decreases		QW	5,238	4.0%	5,036	206.7%	1,642
	Decreasess by budget item transfer	QX	692,162	2.4%	675,730	1.7%	664,315

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	39,253	32.0%	29,729	52.1%	19,551
Increases		UB	9,895	3.9%	9,524	-67.6%	29,424
Decreases		UC	11,470	0%	0	0%	19,247
	Value at the end of period	UD	37,678	-4.0%	39,253	32.0%	29,728

INCLUDES TOTAL ALLOCATIONS

Operating	UE	9,895	3.9%	9,524	-67.6%	29,424
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

INCLUDES TOTAL WITHDRAWAL

Operating	UF	11,470	0%	0	0%	19,246
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%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

TOTAL PROVISION FOR DEPRECIATION (TOTAL III)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7B	39,253	32.0%	29,729	52.1%	19,551
Increases		TY	9,895	3.9%	9,524	-67.6%	29,424
Decreases		TZ	11,470	0%	0	0%	19,247
	Value at the end of period	UA	37,678	-4.0%	39,253	32.0%	29,728

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	1,307,726	40.8%	928,697	55.7%	596,380
1 year at most	VU	1,307,726	44.2%	906,984	52.1%	596,380
More than one year	VV	0	0%	21,713	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	8,368	0%	8,368	-18.0%	10,200
Loans (1 year at most)	UR	8,368	356.5%	1,833	-82.0%	10,200
Other financial assets (gross)	UT	15,178	0%	15,178	0%	15,178
Other financial assets (1 year at most)	UV	15,178	0%	0	0%	15,178

RECEIVABLES STATEMENT OF ASSETS

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	604,457	39.0%	434,890	-15.7%	515,690
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	2,344	175.8%	850	-80.0%	4,252
Social Security and other social organizations	UZ	1,289	243.7%	375	-68.2%	1,178
Income taxes	VM	51,680	0%	0	0%	12,283
Value added tax	VB	15,937	-3.5%	16,523	-17.4%	19,997
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	599,442	34.9%	444,468	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	1,275	0%	0	0%	0

PREPAID

		31/12/2013		31/12/2012		31/12/2011
Prepaid	VS	7,756	-3.6%	8,046	-54.3%	17,602

STATE DEBT

			31/12/2013		31/12/2012		31/12/2011
	Total debt (gross)	VY	483,778	7.3%	450,776	-3.0%	464,596
1 year at most		VZ2	483,778	7.3%	450,776	-3.0%	464,596
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	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	220,978	36.4%	162,051	-43.9%	288,727
1 year at most		8B2	220,978	36.4%	162,051	-43.9%	288,727
More than 1 year and 5 years at most		8B3	220,978	36.4%	162,051	-43.9%	288,727
	Personnel and associated accounts (gross)	8C1	103,888	0.1%	103,796	55.7%	66,661
1 year at most		8C2	103,888	0.1%	103,796	55.7%	66,661
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	127,540	32.3%	96,413	0.6%	95,813
1 year at most		8D2	127,540	32.3%	96,413	0.6%	95,813
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	70,428	0%	0
1 year at most		8E2	0	0%	70,428	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	18,439	363.2%	3,981	0%	0
1 year at most		VW2	18,439	363.2%	3,981	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	12,874	-8.3%	14,041	4.8%	13,394
1 year at most		VQ2	12,874	-8.3%	14,041	4.8%	13,394
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	60	-10.4%	67	0%	0
1 year at most		8K2	60	-10.4%	67	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

REFERENCES

		31/12/2013		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	471	0%	0	0%	28,262
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	0	0%	15	0%	0

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 Median 2013
Fixed Asset Financing		2.38	16.1%	2.05	-4.2%	2.14	3.04	-21.7%
Global Debt		54 days	10.2%	49 days	-15.5%	58 days	100 days	-46.0%
Working Capital Fund overall net		127 days	36.6%	93 days	-17.0%	112 days	78 days	62.8%
Financial independence		%	-	%	-	%	834.28%	-
More ratios
Solvability		71.95%	5.8%	67.99%	0.9%	67.40%	42.77%	68.2%
Capacity debt futures		%	-	%	-	%	2255.63%	-
Coverage of current assets by net working capital overall		68.93%	7.9%	63.86%	-1.6%	64.92%	47.63%	44.7%
General Liquidity		2.70	34.3%	2.01	57.0%	1.28	0.91	196.7%
Restricted Liquidity		2.73	29.4%	2.11	-5.0%	2.22	1.34	103.7%

MANAGEMENT OR ROTATION

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Need background in operating working capital		125 days	43.7%	87 days	58.2%	55 days	37 days	237.8%
Treasury		2 days	-60.0%	5 days	-90.7%	54 days	19 days	-89.5%
Inventory turnover of goods		days	-	days	-	days	53 days	-
Average length of credit granted to customers		67 days	42.6%	47 days	-27.7%	65 days	69 days	-2.9%
Average length of credit obtained suppliers		47 days	42.4%	33 days	-48.4%	64 days	60 days	-21.7%
More ratios
Inventory turnover of raw materials in industrial enterprises		126 days	7.7%	117 days	-7.9%	127 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		427 days	-3.6%	443 days	9.9%	403 days	1156 days	-63.1%
Rotation tangible assets		427.12%	-3.6%	442.88%	10.0%	402.79%	1439.85%	-70.3%

PROFITABILITY OF THE BUSINESS

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Margin trading		0%	0%	0%	0%	0	27.28%	0%
Profitability of the business		13.51	-17.6%	16.39	36.9%	11.97	4.42%	205.7%
Net profit		8.72%	-16.3%	10.42%	49.5%	6.97%	2.80%	211.4%
More ratios
Growth rate of turnover (excluding VAT)		-2.18%	-113.4%	16.28%	-3.4%	16.85%	0%	0%
Rates integration		47.95%	3.5%	46.35%	6.9%	43.36%	25.05%	91.4%
Rate leasing furniture		0.48%	0%	0%	0%	0.54%	0%	0%
Work Factor		69.13%	11.3%	62.13%	-10.8%	69.69%	73.81%	-6.3%
Weight interests		0.15	-46.4%	0.28%	-47.2%	0.53%	0.15%	0%

RETURN ON CAPITAL

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Cash flow from the overall profitability		9.04%	-18.0%	11.02%	48.9%	7.40%	3.65%	147.7%
Rates of economic profitability		35%	-38.6%	57%	58.3%	36%	16%	118.8%
Financial profitability		1241102%	29.6%	957358%	-0.3%	960706%	180993%	585.7%
Return on investment		23.25%	-37.5%	37.18%	66.5%	22.33%	11.28%	106.1%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Turnover	3,252,969	-2.2%	3,325,311	16.3%	2,859,735	931,970 €	249.0%

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 €	202,760.50 €	0%
	0.00 % CA	0%	0.00 % CA	0%	0.00 % CA	27.87 % CA	0%

Sale of goods produced	3,252,969	-2.2%	3,325,311	16.3%	2,859,735
+/- Stocked production	-10,789	-203.4%	10,435	-18.3%	12,770
+ Self-constructed assets	0	0%	0	0%	0
Period production	3,242,180 €	-2.8%	3,335,746 €	16.1%	2,872,505 €	74,731.50 €	4238.4%
	99.67 % CA	-0.6%	100.31 % CA	-0.1%	100.45 % CA	9.08 % CA	997.7%

Trading margin	0	0%	0	0%	0	202,760.50	0%
+ Period Production	3,242,180	-2.8%	3,335,746	16.1%	2,872,505	74,731.50	4238.4%
- Purchase of raw materials	769,672	-12.3%	878,113	11.3%	788,890
+/- Change in stocks of raw materiels	17,887	312.6%	-8,415	74.1%	-32,455
- Other external purchases and charges	894,882	-3.2%	924,671	5.5%	876,071
Added value	1,559,739 €	1.2%	1,541,377 €	24.3%	1,239,999 €	241,637 €	545.5%
	47.95 % CA	3.5%	46.35 % CA	6.9%	43.36 % CA	25.05 % CA	91.4%

Added value	1,559,739 €	1.2%	1,541,377 €	24.3%	1,239,999 €	241,637 €	545.5%
+ Operating grants	0	0%	0	0%	2,000
- Tax, duty and similar payments	41,863	8.1%	38,719	8.9%	35,568
- Personal charges	1,078,311	12.6%	957,601	10.8%	864,203
Gross operating surplus	439,565 €	-19.4%	545,057 €	59.3%	342,228 €	34,691.50 €	1167.1%
	13.51 % CA	-17.6%	16.39 % CA	36.9%	11.97 % CA	4.42 % CA	205.7%

Gross operating surplus	439,565 €	-19.4%	545,057 €	59.3%	342,228 €	34,691.50 €	1167.1%
+ Release of reserves and provisions	16,948	1102.0%	1,410	-93.3%	21,046
+ Other operating income	6,108	41.5%	4,317	-65.5%	12,511
- Depreciation/Amortisation	31,656	15.5%	27,410	-55.1%	61,008
- Other charges	16	166.7%	06	-76.9%	26
Operating result	430,949 €	-17.7%	523,368 €	66.3%	314,751 €	27,731 €	1454.0%
	13.25 % CA	-15.8%	15.74 % CA	43.0%	11.01 % CA	3.38 % CA	292.0%

Operating result	430,949 €	-17.7%	523,368 €	66.3%	314,751 €	27,731 €	1454.0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1,437	-86.0%	10,239	20.9%	8,466
- Financial charges	4,870	-47.7%	9,313	-39.0%	15,272
Pre-tax result	427,516 €	-18.5%	524,294 €	70.3%	307,945 €	27,516 €	1453.7%
	13.14 % CA	-16.7%	15.77 % CA	46.4%	10.77 % CA	3.31 % CA	297.0%

Extraordinary income	0	0%	1,976	0%	0	287.50	0%
- Extraordinary charges	1,738	-8.6%	1,901	2504.1%	73
Extraordinary result	-1,738 €	-2417.3%	75 €	202.7%	-73 €	0 €	0%
	-0.05 % CA	0%	0.00 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	427,516 €	-18.5%	524,294 €	70.3%	307,945 €	27,516 €	1453.7%
Extraordinary result	-1,738 €	-2417.3%	75 €	202.7%	-73 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	142,035	-20.1%	177,717	63.6%	108,630
Net result	283,743 €	-18.1%	346,652 €	74.0%	199,242 €	24,262.50 €	1069.5%
	8.72 % CA	-16.3%	10.42 % CA	49.5%	6.97 % CA	2.80 % CA	211.4%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	09/10/2009
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	EFFBE-WERK FRITZ BRUMME GMBH
Direct parent	EFFBE FRANCE - 100 %
Group – Number of companies	4
Linkages – Number of companies	-
Number of countries	-

Group Structure

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EFFBE-WERK FRITZ BRUMME GMBH

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Company Name	SIREN	Parts	Last account published
EFFBE-WERK FRITZ BRUMME GMBH	-	-	-
EFFBE FRANCE	946650082	100%	31/12/2011
EFFBE-GAMMA SAS	552029225	100%	31/12/2013
EFFBE CZ SRO	-	95%	-

Linkages

Ultimate parent company	EFFBE-WERK FRITZ BRUMME GMBH
Direct parent	EFFBE FRANCE - 100 %
Group – Number of companies	4
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
02/07/2014	Bodacc B	Modification et mutation diverse
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 3149 - 552 029 225 RCS Créteil. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Administration : Directeur général : ILTIS André Président : KRACHT Hans Jürgen en fonction le 14 Mars 2013 Commissaire aux comptes titulaire : DELOITTE & ASSOCIES en fonction le 24 Juin 2014 Commissaire aux comptes suppléant : BEAS en fonction le 24 Juin 2014. Activité : . Commentaires : Modification de représentant.
26/04/2014	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 15399 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
21/05/2013	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 14952 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
22/03/2013	Bodacc B	Modification et mutation diverse
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 2267 - 552 029 225 RCS Créteil. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Administration : Directeur général : ILTIS André Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT modification le 09 Mars 2006 Commissaire aux comptes suppléant : NICOLAS Yves en fonction le 12 Septembre 2012 Président : KRACHT Hans Jürgen en fonction le 14 Mars 2013. Activité : . Commentaires : Modification de représentant.
04/03/2013	JAL	Resignation / Revocation of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 13/12/2012 La société 552029225 - EFFBE-GAMMA SAS, 7 RUE DU 8 MAI 1945, 94470 BOISSY SAINT LEGER Fait l'objet du départ de Monsieur Jean-Michel BUTTERLIN
04/03/2013	JAL	Appointment of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 13/12/2012 Société faisant l'objet d'une nomination : 552029225 - EFFBE-GAMMA SAS, 7 RUE DU 8 MAI 1945, 94470 BOISSY SAINT LEGER Nominé : Monsieur Hans Juergen KRACHT, D - 3310 PADERBORN En la fonction de : Président
20/09/2012	Bodacc B	Modification et mutation diverse
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 2121 - 552 029 225 RCS Créteil. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Administration : Directeur général : ILTIS André Commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT modification le 09 Mars 2006 Président : BUTTERLIN Jean-Michel modification le 24 Mai 2007 Commissaire aux comptes suppléant : NICOLAS Yves en fonction le 12 Septembre 2012. Activité : . Commentaires : Modification de représentant.
14/08/2012	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 13190 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
30/08/2010	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRÉTEIL 13705 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée à associé unique. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
29/12/2009	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL 10278 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée unipersonnelle. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
30/06/2008	Bodacc C	Comptes annuels et rapports
94 - VAL-DE-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL 9352 - 552029225 RCS. EFFBE-GAMMA SAS. Forme : Société par actions simplifiée unipersonnelle. Adresse : 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
30/08/2007	Bodacc C	Avis de dépôt des comptes
8413 - 552 029 225. RCS Créteil EFFBE-GAMMA SAS. Forme: Société par actions simplifiée unipersonnelle. Adresse du siège social: 7 rue du 8 Mai 1945 94470 Boissy Saint-Léger. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
31/05/2007	Bodacc B	Modifications et mutations diverses
2225 - RCS Créteil B 552 029 225. RC 03-B 997. EFFBE-GAMMA S.A.S. Forme : S.A.S.U. Commentaires : modification survenue sur l'administration. Administration : président partant : TRAUTH (Bertram, Erwin). Nomination du président : BUTTERLIN (Jean-Michel).
17/02/2007	Bodacc C	Avis de dépôt des comptes
8886 - RCS Créteil B 552 029 225. RC 03-B 997. EFFBE GAMMA SAS. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE UNIPERSONNELLE. Adresse du siège social: 7, rue du 8 Mai 1945,94470 Boissy-Saint-Leger. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
30/09/2006	Bodacc B	Modifications et mutations diverses
2433 - RCS Créteil B 552 029 225. RC 03-B 997. EFFBE-GAMMA S.A.S. Forme : S.A.S.U. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes suppléant partant : COLL (Pierre). Nomination d'un commissaire aux comptes suppléant : BORIS (Etienne).
23/03/2006	Bodacc B	Modifications et mutations diverses
3611 - RCS Créteil B 552 029 225. RC 03-B 997. EFFBE-GAMMA S.A.S. Forme : S.A.S.U. Commentaires : modification survenue sur la dénomination.
24/10/2004	Bodacc B	Modifications et mutations diverses
RCS Créteil B 552029225 RC 03-B 997 GAMMA. Forme : S.A.S.U Nom commercial: Gamma-S.A. Gamma Amortisseurs. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : COOPERS & LYBRAND AUDIT. Modification d'un commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Nomination d'un commissaire aux comptes suppléant : COLL (Pierre).
09/04/2004	Bodacc B	Modifications et mutations diverses
RCS Créteil B 552029225 RC 03-B 997 GAMMA. Forme : S.A.S.U Nom commercial: Gamma-Sa Gamma Amortisseurs. Commentaires : modification survenue sur l'administration. Administration : président partant : NEUBERT (Karl-Heinz) . Nomination du président : TRAUTH ( Bertram, Erwin).
14/08/2003	Bodacc B	Modifications et mutations diverses
RCS Créteil B 552029225 RC 03-B 997 GAMMA. Forme : S.A.S.U. Commentaires : modification survenue sur l' administration. Administration : président partant : MEYERS (Leander). Commissaire aux comptes suppléant partant : NICOLAS (Yves). Nomination du président : NEUBERT (Karl-Heinz). Nomination d'un commissaire aux comptes suppléant : PRICEWATERHOUSECOOPERS AUDIT.
10/04/2003	Bodacc B	Modifications et mutations diverses
RCS Créteil B 552029225 RC 03-B 997 GAMMA. Forme : S.A.S.U. Capital : 155 000 euros Nom commercial: Gamma S.A. Gamma Amortisseurs. Activité : fabrication, achat, commercialisation de tous produits en caoutchouc ou en matière synthétique de tous produits anti-vibratoires et acoustiques. Notamment, dans les domaines industriels, du batiment, des travaux publics et de l'automobile. Adresse du siège social : 7 rue du 8-Mai-1945, 94470 Boissy-Saint-Léger. Administration : président : MEYERS (Leander). Directeur général : ILTIS (André). Commissaire aux comptes titulaire : COOPERS ET LYBRAND AUDIT. Commissaire aux comptes suppléant : NICOLAS (Yves). Commentaires : cette société transfère son siège du 25 rue Georges-Appay, 92150 Suresnes. Date d'effet : 24 février 2003.
06/09/2002	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 552029225 RC 80-B 22109 GAMMA. Forme : S.A.S.U. Capital : 155 000 euros. Activité : fabrication, achat, commercialisation de tous produits en caoutchouc ou en matière synthétique de tous produits anti-vibratoires et acoustiques. Notamment, dans les domaines industriel, du batiment, des travaux publics et de l'automobile. Commentaires : modification survenue sur la forme juridique, le capital ( augmentation), l'activité et l' administration. Administration : modification du président : MEYERS ( Leander). Administrateurs partants : GRAUEL (Ernst) KREMSER (Martin) HEUSER (Andreas). Modification d'un délégué général : ILTIS (André).
24/05/2001	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 552029225 RC 80-B 22109 GAMMA. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : commissaire aux comptes titulaire partant : MULLER (André). Nomination du commissaire aux comptes titulaire : COOPERS ET LYBRAND AUDIT. Commissaire aux comptes suppléant partant : KEPPI ( Roland). Nomination du commissaire aux comptes suppléant : NICOLAS (Yves).
07/02/2001	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 552029225 RC 80-B 22109 GAMMA. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : nomination du directeur général non administrateur : ILTIS (André).
03/12/2000	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 552029225 RC 80-B 22109 GAMMA. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : président du conseil d'administration partant : BRUMME (Reinhold). Nomination du président du conseil d' administration : MEYERS (Leander). Directeur général partant : ILTIS ( André). Administrateurs partants : SCHMITT (Joseph, Helmut) KAHN (Hans). Nomination d'administrateurs : GRAUEL ( Ernst) KREMSER (Martin) HEUSER ( Andreas).
11/11/1999	Bodacc B	Modifications et mutations diverses
*. RCS Nanterre B 552 029 225 RC 80-B 22109 GAMMA. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : modification : président du conseil d' administration : BRUMME (Reinhold) Nomination en qualité de directeur général : ILTIS (André).
08/02/1998	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 552 029 225 RC 80-B 22109 GAMMA. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : directeur général non administrateur partant : DESONS (Roger). Modification d'un administrateur : KAHN (Hans).

COMPANY EVENTS HISTORY

Date	Description
02/07/2014	Bodacc B: Various editing or changing
24/06/2014	New auditor
24/06/2014	Amendment
26/04/2014	Bodacc C : Deposit accounts notice
18/04/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
05/04/2014	Update Rating
04/04/2014	New ultimate parent
04/04/2014	New parent detected
31/12/2013	New accounts available
19/10/2013	Update Limit
19/10/2013	Update Rating
07/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/05/2013	Bodacc C : Deposit accounts notice
22/03/2013	Bodacc B: Various editing or changing
14/03/2013	Amendment
14/03/2013	New chairman (CEO, CoB)
04/03/2013	Legal Gazette: Resignation / Revocation of the social representative
31/12/2012	New accounts available
13/12/2012	Legal Gazette: Appointment of the social representative
20/09/2012	Bodacc B: Various editing or changing
12/09/2012	Amendment
12/09/2012	New auditor
14/08/2012	Bodacc C : Deposit accounts notice
28/07/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2011	New accounts available
26/07/2011	Bodacc C : Deposit accounts notice
06/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
30/08/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
29/12/2009	Bodacc C : Deposit accounts notice
09/10/2009	Collection of preferential rights activated for this company
31/12/2008	New accounts available
30/06/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
30/04/2007	Minutes of general meeting of shareholders
30/04/2007	Appointment/resignation of company officers
30/04/2007	Private document
30/04/2007	Changement de Président (PDG, PCA)
30/04/2007	Acte modificatif
31/12/2006	New accounts available
19/09/2006	Appointment/resignation of company officers
19/09/2006	Minutes of general meeting of shareholders
19/09/2006	New auditor
19/09/2006	Acte modificatif
19/09/2006	Private document
19/09/2006	Changement de Commissaire aux Comptes
20/01/2006	Changement de dénomination sociale
20/01/2006	New company name
20/01/2006	Private document
20/01/2006	Minutes of general meeting of shareholders
20/01/2006	Statuts mis à jour
20/01/2006	Updated articles of association
20/01/2006	Acte modificatif
31/12/2005	New accounts available
11/10/2004	Appointment/resignation of company officers
11/10/2004	Acte modificatif
11/10/2004	New auditor
11/10/2004	Changement de Commissaire aux Comptes
11/10/2004	PV d'Assemblée
11/10/2004	Minutes of general meeting of shareholders
11/10/2004	Nomination/démission des organes de gestion
11/10/2004	Private document
11/10/2004	Acte sous seing privé
30/03/2004	Acte sous seing privé
30/03/2004	Nomination/démission des organes de gestion
30/03/2004	Changement de Président (PDG, PCA)
30/03/2004	Acte modificatif
30/03/2004	PV d'Assemblée
04/08/2003	Acte modificatif
04/08/2003	Changement de Commissaire aux Comptes
04/08/2003	PV d'Assemblée
04/08/2003	Changement de Président (PDG, PCA)
04/08/2003	Nomination/démission des organes de gestion
04/08/2003	Acte sous seing privé
31/03/2003	PV d'Assemblée
31/03/2003	Acte modificatif
31/03/2003	Immatriculation suite à transfert
31/03/2003	Acte sous seing privé
31/03/2003	Statuts mis à jour
26/08/2002	PV d'Assemblée
26/08/2002	Changement de Forme Juridique avec changement de catégorie
26/08/2002	Nomination/démission des organes de gestion
26/08/2002	Rapport des Commissaires ou du Gérant
26/08/2002	Acte sous seing privé
26/08/2002	Modification du Conseil d'Administration
26/08/2002	Augmentation de Capital
26/08/2002	Changement de Forme Juridique sans changement de catégorie
26/08/2002	Conversion du Capital Social en Euros
26/08/2002	Modification de l'objet social
26/08/2002	Statuts mis à jour
26/08/2002	Acte modificatif
10/05/2001	Changement de Commissaire aux Comptes
10/05/2001	PV d'Assemblée
10/05/2001	Acte sous seing privé
10/05/2001	Nomination/démission des organes de gestion
20/11/2000	Statuts mis à jour
20/11/2000	PV du Conseil d'Administration
20/11/2000	PV d'Assemblée
20/11/2000	Changement de Président (PDG, PCA)
20/11/2000	Changement de date de clôture
20/11/2000	Modification du Conseil d'Administration
20/11/2000	Nomination/démission des organes de gestion
20/11/2000	Acte modificatif
20/11/2000	Acte sous seing privé
25/10/1999	PV du Conseil d'Administration
25/10/1999	Acte modificatif
25/10/1999	Acte sous seing privé
25/10/1999	Modification du Conseil d'Administration
25/10/1999	Nomination/démission des organes de gestion
08/06/1998	PV d'Assemblée
08/06/1998	Statuts mis à jour
08/06/1998	Acte sous seing privé
23/01/1998	Nomination/démission des organes de gestion
23/01/1998	Acte modificatif
23/01/1998	Modification du Conseil d'Administration
23/01/1998	PV du Conseil d'Administration
23/01/1998	Acte sous seing privé
27/01/1996	Changement de date de clôture
27/01/1996	Acte modificatif
27/01/1996	Statuts mis à jour
27/01/1996	PV d'Assemblée
10/10/1994	Acte modificatif
10/10/1994	Modification du Conseil d'Administration
10/10/1994	PV du Conseil d'Administration
10/10/1994	PV d'Assemblée
10/10/1994	Nomination/démission des organes de gestion
07/09/1993	PV d'Assemblée
07/09/1993	Acte modificatif
15/05/1992	Changement de Président (PDG, PCA)
15/05/1992	Nomination/démission des organes de gestion
15/05/1992	Modification du Conseil d'Administration
15/05/1992	PV d'Assemblée
15/05/1992	PV du Conseil d'Administration
14/05/1992	Acte modificatif

DIRECTORS

Name	M. ILTIS ANDRÉ
Manager position	Managing director	Date of birth	17/01/1962
Place of birth	WISSEMBOURG
Type	Individual	Name at birth

Name	M. KRACHT HANS JÃœRGEN
Manager position	President	Date of birth	06/06/1962
Place of birth	PADERBORN(ALLEMAGNE)
Type	Individual	Name at birth

PREVIOUS DIRECTORS

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Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-MICHEL BUTTERLIN	- - -
President	M JEAN-MICHEL BUTTERLIN	2/5/1947 - MULHOUSE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.87
UK Pound	1	Rs.99.63
Euro	1	Rs.78.23

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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%)