MIRA INFORM REPORT

Report Date :

26.09.2014

IDENTIFICATION DETAILS

Name :	BIA
Registered Office :	Z LES Boutries 8 Rue De L Hautil 78700 Conflans Sainte Honorine
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	September 1998
Com. Reg. No.:	9 421 183 898
Legal Form :	Simplified joint stock company
Line of Business :	Manufacture of scientific and technical instrumentation
No. of Employees :	50 to 99

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

Company name

BIA

company summary

Trade name	BIA
		EUR VAT Number	FR24421183898
Activity (APE)	Manufacture of scientific and technical instrumentation	Legal form	Simplified joint stock company
Phone	01 39 19 52 76	RCS Registration	RCS Versailles 9 421 183 898
Fax		Share capital	1,394,909 Euros
Address	BIA Z LES BOUTRIES 8 RUE DE L HAUTIL 78700 CONFLANS SAINTE HONORINE	Incorporated Date	12/1998
Nationality	France	Status	Economically active

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	20,496,757 €	14,398,982 €	11,302,206 €
Gross Operating Surplus	18.08 % Turnover	9.22 % Turnover	2.93 % Turnover
Shareholders’ equity	3,609,941 €	2,659,172 €	2,009,808 €
Net result	2,055,174 €	1,105,033 €	456,064 €
Employees	50 to 99 employees	-	-

Company details

Activity (APE)	Manufacture of scientific and technical instrumentation
RCS Registration	RCS Versailles 9 421 183 898	Share capital	1,394,909 Euros
Registration Court	Versailles (78)	Legal form	Simplified joint stock company
Court Registry Number	19 9 9B01288	EUR VAT Number	FR24421183898
Incorporation Date	12/1998	Formation Date	12/1998
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Trade name	BIA
Activity (APE)	Manufacture of scientific and technical instrumentation	Business Pages FT®
Postal Address	BIA Z LES BOUTRIES 8 RUE DE L HAUTIL 78700 CONFLANS SAINTE HONORINE	Trading Address	8 RUE DE L HAUTIL 78700 CONFLANS SAINTE HONORINE
Telephone	01 39 19 52 76
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1999	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Yvelines (78)	Region	Ile-de-France
District	3	Area	06
City	CONFLANS SAINTE HONORINE	Size of urban area	Paris conglomeration

Other establishments

Branches	1 branch entities in this company
Head office	Manufacture of scientific and technical instrumentation)
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

50 to 99 employees

Company workforce

50 to 99 employees

DIRECTORS/MANAGEMENT

Current Directors

2

directors

Shareholder(s)

Name	NATEC
Name of representative
Manager position	President	Date of birth
Place of birth
Type	Moral person	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M GIAN ANGELANTONI	5/20/1944 - TODI ITALIE
Managing director	M NAMOUN FAYCAL	7/23/1960 - MONASTIR TUNISIE

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Shareholders

No Shareholders available for this company

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

Group data

Group Structure

No group information available for the company

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	24/09/2013	31/08/2012	19/11/2011
Activity Code	2651B	2651B	2651B
Employees	0	0	0

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	184,444	59.9%	115,333	-30.2%	165,156	94,355.50	95.5%
- Intangible assets	15,692	1639.7%	902	-80.5%	4,621	6,212	152.6%
- Tangible assets	81,252	16.5%	69,717	-44.3%	125,175	34,149.50	137.9%
- Financial assets	87,500	95.7%	44,714	26.5%	35,360	5,478	1497.3%
Net current assets	14,498,465	5.4%	13,750,419	45.8%	9,432,871	724,106	1902.3%
- Stocks	783,355	-16.9%	942,208	8.1%	871,449	132,554.50	491.0%
- Advanced payments	53,993	5.4%	11,101	-54.7%	24,480	0	0%
- Receivables	10,182,585	-9.3%	11,229,045	39.3%	8,063,235	306,724.50	3219.8%
- Securities and cash	3,478,532	121.8%	1,568,065	231.0%	473,707	122,732.50	2734.2%
- Prepaid expenses	-	-	-	-	-	374	-
Accounts of regularization	698	0%	0	0%	0	0	0%
Total Assets	14,683,607	5.9%	13,865,752	44.5%	9,598,027	864,764	1598.0%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	3,609,941	35.8%	2,659,172	32.3%	2,009,808	378,049.50	854.9%
Share capital	1,394,909	0%	1,394,909	0%	1,394,909	80,000	1643.6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	393,162	29.3%	304,091	23.5%	246,270	0	0%
Liabilities	10,680,505	-2.0%	10,902,490	48.5%	7,341,948	370,538	2782.4%
- Financial liabilities	605,954	-34.7%	927,822	-34.3%	1,412,216	58,407	937.5%
- Advanced payments received	0	0%	3,608,618	1502.8%	225,151	0	0%
- Trade account payables	5,549,149	57.9%	3,514,323	4.7%	3,355,028	108,337	5022.1%
- Tax and social liabilities	4,513,407	142.2%	1,863,484	42.1%	1,311,665	128,296	3418.0%
- Other debts and fixed assets liabilities	11,995	-98.8%	988,243	-4.8%	1,037,888	5,386.50	122.7%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	14,683,608	5.9%	13,865,753	44.5%	9,598,026	864,764	1598.0%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	20,754,390	31.1%	15,830,907	34.0%	11,813,824	1,091,407	1801.6%
Net turnover	20,496,757	42.3%	14,398,982	27.4%	11,302,206	1,015,019	1919.3%
- of which net export turnover	14,569,764	88.3%	7,737,951	-3.5%	8,018,529	25,310	57465.2%
Operating charges	17,560,933	19.5%	14,694,639	27.3%	11,542,825	1,102,515.50	1492.8%
Operating profit/loss	3,193,457	181.0%	1,136,268	319.3%	270,999	36,666	8609.6%
Financial income	72,325	33.4%	54,220	15003.1%	359	1,397.50	5075.3%
Financial charges	151,393	21.9%	124,226	-56.3%	284,086	2,899.50	5121.3%
Financial profit/loss	-79,068	-12.9%	-70,006	75.3%	-283,727	-124.50	-63408.4%
Pretax net operating income	3,114,389	192.1%	1,066,262	8477.3%	-12,728	34,043.50	9048.3%
Extraordinary income	0	0%	83,233	0%	0	572.50	0%
Extraordinary charges	41	-100.0%	92,193	696.9%	11,569	473	-91.3%
Extraordinary profit/loss	-41	99.5%	-8,960	22.6%	-11,569	0	0%
Net result	2,055,174	86.0%	1,105,033	142.3%	456,064	48,813.50	4110.3%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2012	31/12/2011	31/12/2010
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2012		31/12/2011		31/12/2010
	Grand Total (I to VI)	Net	14,683,607	5.9%	13,865,752	44.5%	9,598,027
	Gross	CO	16,357,228	8.4%	15,094,302	26.2%	11,965,267
	Amortisation	1A	1,673,621	36.2%	1,228,550	-48.1%	2,367,240

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2012		31/12/2011		31/12/2010
	Total Active fixed asset (II)	Net	184,444	59.9%	115,333	-30.2%	165,156
	Gross	BJ	1,444,255	12.8%	1,280,537	2.6%	1,248,391
	Amortisation	BK	1,259,811	8.1%	1,165,204	7.6%	1,083,235

Intangilble fixed assets

			31/12/2012		31/12/2011		31/12/2010
	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	15,692	1639.7%	902	-80.5%	4,621
	Gross	AF	353,903	19.6%	296,008	0.5%	294,538
	Amortisation	AG	338,211	14.6%	295,106	1.8%	289,917
	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	15,692	1639.7%	902	-80.5%	4,621

Tangilble fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	31,528	-30.3%	45,233	-58.8%	109,884
	Gross	AR	443,257	5.2%	421,363	0%	421,363
	Amortisation	AS	411,729	9.5%	376,130	20.8%	311,479
	Other tangible fixed assets	Net	49,724	103.1%	24,484	60.1%	15,291
	Gross	AT	504,497	8.9%	463,354	4.8%	442,032
	Amortisation	AU	454,773	3.6%	438,870	2.8%	426,741
	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	81,252		69,717		125,175

Financial assets

			31/12/2012		31/12/2011		31/12/2010
	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	50,000	0%	50,000	0%	50,000
	Amortisation	CV	50,000	0%	50,000	0%	50,000
	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	87,500	95.7%	44,714	26.5%	35,360
	Gross	BH	92,598	85.9%	49,812	23.1%	40,458
	Amortisation	BI	5,098	0%	5,098	0%	5,098
	Sub Total Financial Assets		87,500		44,714		35,360

Current Assets (III)

			31/12/2012		31/12/2011		31/12/2010
	Total Assets	Net	14,498,465	5.4%	13,750,419	45.8%	9,432,871
	Gross	CJ	14,912,274	8.0%	13,813,765	28.9%	10,716,876
	Amortisation	CK	413,809	553.3%	63,346	-95.1%	1,284,005

Stocks

			31/12/2012		31/12/2011		31/12/2010
	Raw materials	Net	748,546	10.9%	674,794	23.2%	547,855
	Gross	BL	892,507	29.1%	691,533	15.5%	598,976
	Amortisation	BM	143,961	760.0%	16,739	-67.3%	51,121
	Work in progress (goods)	Net	16,844	-93.6%	263,127	-17.7%	319,707
	Gross	BN	263,127	0%	263,127	-17.7%	319,707
	Amortisation	BO	246,283	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	17,965	319.1%	4,287	10.3%	3,887
	Gross	BR	41,530	-18.4%	50,894	50.5%	33,814
	Amortisation	BS	23,565	-49.4%	46,607	55.7%	29,927
	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	783,355	-16.9%	942,208	8.1%	871,449

Advance payments to suppliers

			31/12/2012		31/12/2011		31/12/2010
	Advance payments to suppliers	Net	53,993	386.4%	11,101	-54.7%	24,480
	Gross	BV	53,993	386.4%	11,101	-54.7%	24,480
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2012		31/12/2011		31/12/2010
	Trade accounts receivable	Net	9,069,808	-11.7%	10,275,920	65.9%	6,195,586
	Gross	BX	9,069,808	-11.7%	10,275,920	64.8%	6,237,214
	Amortisation	BY	0	0%	0	0%	41,628
	Other debtors	Net	788,070	6.7%	738,575	-58.7%	1,786,269
	Gross	BZ	788,070	6.7%	738,575	-74.9%	2,947,598
	Amortisation	CA	0	0%	0	0%	1,161,329
	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	9,857,878	-10.5%	11,014,495	38.0%	7,981,855

Divers

			31/12/2012		31/12/2011		31/12/2010
	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	3,478,532	121.8%	1,568,065	231.0%	473,707
	Gross	CF	3,478,532	121.8%	1,568,065	231.0%	473,707
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	3,478,532	121.8%	1,568,065	231.0%	473,707

Prepaid expenses

			31/12/2012		31/12/2011		31/12/2010
	Prepaid expenses	Net	324,707	51.3%	214,550	163.6%	81,380
	Gross	CH	324,707	51.3%	214,550	163.6%	81,380
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
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	698	0%	0	0%	0
Gross		698	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to V)	EE	14,683,608	5.9%	13,865,753	44.5%	9,598,026

Shareholder Equity (I)

			31/12/2012		31/12/2011		31/12/2010
	Total shareholders' equity (Total I)	DL	3,609,941	35.8%	2,659,172	32.3%	2,009,808
	Equity and shareholders' equity	DA	1,394,909	0%	1,394,909	0%	1,394,909
	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	139,491	0%	139,491	0%	139,491
	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	20,367	3.2%	19,739	2.0%	19,344
	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	2,055,174	86.0%	1,105,033	142.3%	456,064
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Total provisions for risks and charges (Total III)	DR	393,162	29.3%	304,091	23.5%	246,270
	Risk provisions	DP	50,138	0%	50,138	0%	0
	Reserves for charges	DQ	343,024	35.1%	253,953	3.1%	246,270

Liabilities (IV)

			31/12/2012		31/12/2011		31/12/2010
	Total Liabilities (Total IV)	EC	10,680,505	-2.0%	10,902,490	48.5%	7,341,948
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	160,248	-82.7%	927,822	25.9%	736,730
	Sundry loans and financial liabilities	DV	445,706	0%	0	0%	675,486
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	3,608,618	1502.8%	225,151
	Trade accounts payables	DX	5,549,149	57.9%	3,514,323	4.7%	3,355,028
	Tax and social security liabilities	DY	4,513,407	142.2%	1,863,484	42.1%	1,311,665
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	11,995	-98.8%	988,243	-4.8%	1,037,888

Translation loss (V)

		31/12/2012		31/12/2011		31/12/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2012		31/12/2011		31/12/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Operating result (Total I-II)	GG	3,193,457	181.0%	1,136,268	319.3%	270,999

2 -Financial result(V - VI)

		31/12/2012		31/12/2011		31/12/2010
Financial result (Total V-VI)	GV	-79,068	-12.9%	-70,006	75.3%	-283,727

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

		31/12/2012		31/12/2011		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	3,114,389	192.1%	1,066,262	8477.3%	-12,728

4 -Extraordinary result(VII-VIII)

		31/12/2012		31/12/2011		31/12/2010
Extraordinary result (Total VII-VIII)	HI	-41	99.5%	-8,960	22.6%	-11,569

Profit or loss

		31/12/2012		31/12/2011		31/12/2010
Profit or loss	HN	2,055,174	86.0%	1,105,033	142.3%	456,064

Total Income (I+III+V+VII)

		31/12/2012		31/12/2011		31/12/2010
Total Income (I+III+V+VII)	HL	20,826,715	30.4%	15,968,360	35.2%	11,814,183

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

		31/12/2012		31/12/2011		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	18,771,542	26.3%	14,863,327	30.9%	11,358,117

Operating income(I)

		31/12/2012		31/12/2011		31/12/2010
Total operating income (Total I)	FR	20,754,390	31.1%	15,830,907	34.0%	11,813,824

Operating income (details)

			31/12/2012		31/12/2011		31/12/2010
	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	19,443,500	41.2%	13,766,084	28.9%	10,677,693
	France	FD	5,207,936	-16.4%	6,230,121	116.5%	2,877,278
	Export	FE	14,235,564	88.9%	7,535,963	-3.4%	7,800,415
	Sale of services	FI	1,053,257	66.4%	632,898	1.3%	624,513
	France	FG	719,057	66.9%	430,910	6.0%	406,399
	Export	FH	334,200	65.5%	201,988	-7.4%	218,114
	Net turnover	FL	20,496,757	42.3%	14,398,982	27.4%	11,302,206
	France	FJ	5,926,993	-11.0%	6,661,031	102.9%	3,283,677
	Export	FK	14,569,764	88.3%	7,737,951	-3.5%	8,018,529
	Stocked production	FM	-9,364	76.3%	-39,500	47.5%	-75,207
	Self-constructed assets	FN	0	0%	0	0%	39,166
	Operating grants	FO	0	0%	3,180	-99.0%	321,209
	Release of reserves and provisions	FP	266,777	-81.8%	1,467,760	551.2%	225,402
	Other income	FQ	220	-54.6%	485	-53.7%	1,048

Operating charges(II)

		31/12/2012		31/12/2011		31/12/2010
Total operating charges (Total II)	GF	17,560,933	19.5%	14,694,639	27.3%	11,542,825

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
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	8,757,691	41.5%	6,187,671	23.8%	4,999,747
Change in stocks of raw materials	FV	-200,974	-117.1%	-92,556	52.4%	-194,584
Other external purchases and charges	FW	3,211,558	29.6%	2,478,930	6.2%	2,335,127
Tax, duty and similar payments	FX	348,954	39.4%	250,351	19.8%	209,018
Payroll	FY	3,191,473	11.7%	2,857,079	6.9%	2,673,397
Social security costs	FZ	1,472,311	8.8%	1,353,573	9.7%	1,233,453

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	94,608	15.4%	81,968	14.0%	71,926
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	350,463	5681.3%	6,062	-25.2%	8,101
Provisions for risks and charges	GD	334,862	31.9%	253,953	23.4%	205,762

Other charges

		31/12/2012		31/12/2011		31/12/2010
Other charges	GE	-13	-100.0%	1,317,608	149969.2%	878

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
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)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	72,325	33.4%	54,220	15003.1%	359
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	1,380	0%	0	0%	52
Released provisions and transferred charges	GM	0	0%	47,710	0%	0
Exchange gains	GN	0	0%	6,510	2020.5%	307
Net income from disposal of investment securities	GO	70,945	0%	0	0%	0

Financial Charge (VI)

			31/12/2012		31/12/2011		31/12/2010
	Total financial charge (Total VI)	GU	151,393	21.9%	124,226	-56.3%	284,086
	Financial reserves and provisions	GQ	0	0%	0	0%	196,534
	Interest and similar charges	GR	148,294	45.5%	101,941	17.5%	86,726
	Exchange losses	GS	3,099	-86.1%	22,285	2597.9%	826
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary income (Total VII)	HD	0	0%	83,233	0%	0
	Extraordinary operating income	HA	0	0%	44,405	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	38,828	0%	0

Extraordinary charges(VIII)

			31/12/2012		31/12/2011		31/12/2010
	Total extraordinary charges (Total VIII)	HH	41	-100.0%	92,193	696.9%	11,569
	Extraordinary operating charges	HE	41	-100.0%	92,193	696.9%	11,569
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing(IX)

		31/12/2012		31/12/2011		31/12/2010
Employee profit sharing (Total IX)	HJ	350,999	231.2%	105,992	0%	0

Tax on profits(X)

		31/12/2012		31/12/2011		31/12/2010
Tax on profits (Total X)	HK	708,176	560.7%	-153,723	68.0%	-480,363

References

		31/12/2012		31/12/2011		31/12/2010
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)

			31/12/2012		31/12/2011		31/12/2010
	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	44,714	0%	0	0%	0
	Gross value at the end of period	OL	1,444,255	12.8%	1,280,537	2.6%	1,248,391

Research and development Charge (Total I)

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	KD	296,009	0.5%	294,539	3.0%	285,829
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	57,895	3838.4%	1,470	-83.1%	8,710
	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	353,904	19.6%	296,009	0.5%	294,539

Tangible fixed assets (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LN	884,717	2.5%	863,395	6.2%	812,787
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	63,037	195.6%	21,322	-57.9%	50,606
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	947,754	7.1%	884,717	2.5%	863,393

Fiancial assets (Total IV)

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	LQ	99,812	10.3%	90,458	0%	90,458
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	87,500	835.3%	9,355	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	44,714	0%	0	0%	0
	Gross value at the end of period	NK	142,598	42.9%	99,813	10.3%	90,458

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

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	295,106	1.8%	289,917	3.3%	280,671
Increases		PF	43,105	730.7%	5,189	-43.9%	9,247
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	338,211	14.6%	295,106	1.8%	289,918

Total fixed assets amotisation(Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	815,000	10.4%	738,220	9.3%	675,540
Increases		QV	51,502	-32.9%	76,779	22.5%	62,680
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	866,502	6.3%	814,999	10.4%	738,220

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	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

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7C	422,535	-73.3%	1,585,373	15.4%	1,374,240
Increases		UB	685,325	121.0%	310,153	-14.5%	362,687
Decreases		UC	245,791	-83.3%	1,472,990	871.9%	151,555
	Value at the end of period	UD	862,069	104.0%	422,536	-73.3%	1,585,372

Includes Total allocations

Operating	UE	685,325	0%	0	0%	213,863
Financial	UG	0	0%	0	0%	196,534
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	245,791	0%	0	0%	151,555
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	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)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	5Z	304,091	23.5%	246,270	28.8%	191,185
Increases		TV	334,862	10.1%	304,091	47.8%	205,762
Decreases		TW	245,791	-0.2%	246,270	63.4%	150,677
	Value at the end of period	TX	393,162	29.3%	304,091	23.5%	246,270

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7B	118,444	-91.2%	1,339,104	13.2%	1,183,055
Increases		TY	350,463	5681.3%	6,062	-96.1%	156,925
Decreases		TZ	0	0%	1,226,721	139617.7%	878
	Value at the end of period	UA	468,907	295.9%	118,445	-91.2%	1,339,102

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

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	13,387,753	18.6%	11,291,862	21.4%	9,297,697
1 year at most	VU	13,387,753	18.6%	11,291,862	21.4%	9,297,697
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2012		31/12/2011		31/12/2010
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	92,598	85.9%	49,812	23.1%	40,458
Other financial assets (1 year at most)	UV	92,598	85.9%	49,812	23.1%	40,458

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	0	0%	0	0%	49,787
Other claims customer	UX	12,167,423	18.4%	10,277,575	66.1%	6,187,428
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	2,700	36.6%	1,976	-12.4%	2,255
Social Security and other social organizations	UZ	755	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	649,000	67.7%	386,941	124.1%	172,639
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	111,059	-66.2%	328,752	-88.0%	2,734,208
Accounts receivable (including claims relating to the operation of pension titles)	VR	39,510	22.5%	32,256	9.2%	29,543

Prepaid

		31/12/2012		31/12/2011		31/12/2010
Prepaid	VS	324,707	51.3%	214,550	163.6%	81,380

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	5,131,356	-29.6%	7,293,873	5.5%	6,914,381
1 year at most		VZ2	5,131,356	-29.6%	7,293,873	5.5%	6,914,381
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

			31/12/2012		31/12/2011		31/12/2010
	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%	540,054
1 year at most		VG2	0	0%	0	0%	540,054
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	160,248	-82.7%	927,822	0%	0
1 year at most		VH2	160,248	-82.7%	927,822	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	2,249,766	-36.0%	3,514,323	4.7%	3,355,028
1 year at most		8B2	2,249,766	-36.0%	3,514,323	4.7%	3,355,028
More than 1 year and 5 years at most		8B3	2,249,766	-36.0%	3,514,323	4.7%	3,355,028
	Personnel and associated accounts (gross)	8C1	936,480	65.3%	566,481	43.6%	394,420
1 year at most		8C2	936,480	65.3%	566,481	43.6%	394,420
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	680,591	13.6%	598,909	4.4%	573,422
1 year at most		8D2	680,591	13.6%	598,909	4.4%	573,422
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	368,580	-32.6%	546,913	114.6%	254,839
1 year at most		VW2	368,580	-32.6%	546,913	114.6%	254,839
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	277,989	83.9%	151,182	81.6%	83,243
1 year at most		VQ2	277,989	83.9%	151,182	81.6%	83,243
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	445,706	0%	0	0%	675,486
1 year at most		VI2	445,706	0%	0	0%	675,486
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	11,995	-98.8%	988,243	-4.8%	1,037,888
1 year at most		8K2	11,995	-98.8%	988,243	-4.8%	1,037,888
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2012		31/12/2011		31/12/2010
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

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Fixed Asset Financing		4.06	2.8%	3.95	3.7%	3.81	2.30	76.5%
Global Debt		188days	-31.1%	273days	16.7%	234days	126.50days	48.6%
Working Capital Fund overall net		78days	-17.0%	94days	-16.1%	112days	135days	-42.2%
Financial independence		2252.72%	686.0%	286.60%	5.1%	272.80%	1061.51%	112.2%
More ratios
Solvability		24.58%	28.2%	19.18%	-8.4%	20.94%	50.29%	-51.1%
Capacity debt futures		2252.72%	686.0%	286.60%	-23.0%	372.15%	3036.85%	-25.8%
Coverage of current assets by net working capital overall		30.33%	9.3%	27.76%	-15.7%	32.94%	53.53%	-43.3%
General Liquidity		2.61	68.4%	1.55	15.7%	1.34	0.95	174.7%
Restricted Liquidity		3.29	86.9%	1.76	24.8%	1.41	1.55	112.3%

Management or rotation

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital		11days	-78.0%	50days	-46.8%	94days	67days	-83.6%
Treasury		61days	56.4%	39days	160.0%	15days	39days	56.4%
Inventory turnover of goods		days	-	days	-	days	12days	-
Average length of credit granted to customers		159days	-38.1%	257days	29.1%	199days	76days	109.2%
Average length of credit obtained suppliers		170days	14.9%	148days	-12.4%	169days	66days	157.6%
More ratios
Inventory turnover of raw materials in industrial enterprises		37days	-7.5%	40days	-7.0%	43days	109days	-66.1%
Inventory turnover of intermediate and finished products in the industrial enterprise		2163days	32.9%	1628days	24.4%	1309days	545.50days	296.5%
Rotation tangible assets		2162.67%	32.9%	1627.52%	24.3%	1309.05%	607.85%	255.8%

Profitability of the business

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		18.08	96.1%	9.22	214.7%	2.93	7.93%	128.0%
Net profit		10.03%	30.8%	7.67%	89.9%	4.04%	5.39%	86.1%
More ratios
Growth rate of turnover (excluding VAT)		42.35%	54.6%	27.40%	12.5%	24.36%	0.67%	6220.9%
Rates integration		42.54%	5.9%	40.18%	10.1%	36.51%	43.01%	-1.1%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		53.49%	-26.5%	72.78%	-23.1%	94.69%	76.64%	-30.2%
Weight interests		0.74	-14.0%	0.86%	-65.7%	2.51%	0.28%	164.3%

Return on capital

		31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability		9.29%	12.7%	8.24%	62.5%	5.07%	7.51%	23.7%
Rates of economic profitability		88%	137.8%	37%	270.0%	10%	13%	576.9%
Financial profitability		3609941%	35.8%	2659172%	32.3%	2009808%	396756%	809.9%
Return on investment		52.34%	52.7%	34.27%	58.4%	21.63%	10.88%	381.1%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Turnover	20,496,757	42.3%	14,398,982	27.4%	11,302,206	1,015,019 €	1919.3%

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 €	0 €	0%
	0.00 % CA	0%	0.00 % CA	0%	0.00 % CA	0 % CA	0%

Sale of goods produced	20,496,757	42.3%	14,398,982	27.4%	11,302,206
+/- Stocked production	-9,364	76.3%	-39,500	47.5%	-75,207
+ Self-constructed assets	0	0%	0	0%	39,166
Period production	20,487,393 €	42.7%	14,359,482 €	27.5%	11,266,165 €	710,335 €	2784.2%
	99.95 % CA	0.2%	99.73 % CA	0.1%	99.68 % CA	99.58 % CA	0.4%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	20,487,393	42.7%	14,359,482	27.5%	11,266,165	710,335	2784.2%
- Purchase of raw materials	8,757,691	41.5%	6,187,671	23.8%	4,999,747
+/- Change in stocks of raw materiels	-200,974	-117.1%	-92,556	52.4%	-194,584
- Other external purchases and charges	3,211,558	29.6%	2,478,930	6.2%	2,335,127
Added value	8,719,118 €	50.7%	5,785,437 €	40.2%	4,125,875 €	466,768 €	1768.0%
	42.54 % CA	5.9%	40.18 % CA	10.1%	36.51 % CA	43.01 % CA	-1.1%

Added value	8,719,118 €	50.7%	5,785,437 €	40.2%	4,125,875 €	466,768 €	1768.0%
+ Operating grants	0	0%	3,180	-99.0%	321,209
- Tax, duty and similar payments	348,954	39.4%	250,351	19.8%	209,018
- Personal charges	4,663,784	10.8%	4,210,652	7.8%	3,906,850
Gross operating surplus	3,706,380 €	179.2%	1,327,614 €	300.8%	331,216 €	58,445 €	6241.7%
	18.08 % CA	96.1%	9.22 % CA	214.7%	2.93 % CA	7.93 % CA	128.0%

Gross operating surplus	3,706,380 €	179.2%	1,327,614 €	300.8%	331,216 €	58,445 €	6241.7%
+ Release of reserves and provisions	266,777	-81.8%	1,467,760	551.2%	225,402
+ Other operating income	220	-54.6%	485	-53.7%	1,048
- Depreciation/Amortisation	779,933	128.1%	341,983	19.7%	285,789
- Other charges	-13	-100.0%	1,317,608	149969.2%	878
Operating result	3,193,457 €	181.0%	1,136,268 €	319.3%	270,999 €	36,666 €	8609.6%
	15.58 % CA	97.5%	7.89 % CA	228.8%	2.40 % CA	4.77 % CA	226.6%

Operating result	3,193,457 €	181.0%	1,136,268 €	319.3%	270,999 €	36,666 €	8609.6%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	72,325	33.4%	54,220	15003.1%	359
- Financial charges	151,393	21.9%	124,226	-56.3%	284,086
Pre-tax result	3,114,389 €	192.1%	1,066,262 €	8477.3%	-12,728 €	34,043.50 €	9048.3%
	15.19 % CA	105.0%	7.41 % CA	6836.4%	-0.11 % CA	4.58 % CA	231.7%

Extraordinary income	0	0%	83,233	0%	0	572.50	0%
- Extraordinary charges	41	-100.0%	92,193	696.9%	11,569
Extraordinary result	-41 €	99.5%	-8,960 €	22.6%	-11,569 €	0 €	0%
	0.00 % CA	0%	-0.06 % CA	40.0%	0 % CA	0 % CA	0%

Pre-tax result	3,114,389 €	192.1%	1,066,262 €	8477.3%	-12,728 €	34,043.50 €	9048.3%
Extraordinary result	-41 €	99.5%	-8,960 €	22.6%	-11,569 €	0 €	0%
- Employee profit sharing	350,999	231.2%	105,992	0%	0
- Tax on profits	708,176	560.7%	-153,723	68.0%	-480,363
Net result	2,055,173 €	86.0%	1,105,033 €	142.3%	456,066 €	48,874.50 €	4105.0%
	10.03 % CA	30.8%	7.67 % CA	89.9%	4.04 % CA	5.39 % CA	86.1%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

No social security and tax office preferential right to date

Trends
Profitability	x
Liquidity	X
Net worth	x

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	04/08/2009
Status of Monitoring	No social security and tax office preferential right to date

Social security, pension funds preferential rights

Number of preferential rights	0
Total amount	-
Due remaining amount	-
Date of last preferential right	-

Historical Data

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

31004361

14/12/2010

24/01/2011

URSSAF DE PARIS REGION PARISIENNE - DDR de PARIS NORD

52,122 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Creditor	URSSAF DE PARIS REGION PARISIENNE - DDR de PARIS NORD T.S.A. 80028 93517, MONTREUIL CEDEX
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

31004421

27/12/2010

24/01/2011

URSSAF DE PARIS REGION PARISIENNE - DDR de PARIS NORD

42,363 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Creditor	URSSAF DE PARIS REGION PARISIENNE - DDR de PARIS NORD T.S.A. 80028 93517, MONTREUIL CEDEX
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

31102706

03/08/2011

26/08/2011

CAISSE NATIONALE DE RETRAITE DU BATIMENT DES TRAVAUX PUBLICS ET

19,720 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Description	SOMMES DUES AU 01/04/2011
Creditor	CAISSE NATIONALE DE RETRAITE DU BATIMENT DES TRAVAUX PUBLICS ET 7 Rue du Regard 75294, PARIS CEDEX 06
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

31102754

03/08/2011

26/08/2011

CAISSE DE RETRAITE DU BATIMENT ET DES TRAVAUX PUBLICS (BTP-RETRA

33,552 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Description	SOMMES DUES AU 01/04/2011
Creditor	CAISSE DE RETRAITE DU BATIMENT ET DES TRAVAUX PUBLICS (BTP-RETRA 7 Rue du Regard 75294, PARIS CEDEX 06
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

31104052

08/11/2011

19/12/2011

CAISSE NATIONALE DE RETRAITE DU BATIMENT DES TRAVAUX PUBLICS ET

1,082 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Description	SOMMES DUES AU 01/07/2011
Creditor	CAISSE NATIONALE DE RETRAITE DU BATIMENT DES TRAVAUX PUBLICS ET 7 Rue du Regard 75294, PARIS CEDEX 06
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

31104104

08/11/2011

19/12/2011

CAISSE DE RETRAITE DU BATIMENT ET DES TRAVAUX PUBLICS (BTP-RETRA

1,185 EUR

-

Reason for closure	Crossed Off
Court	Versailles
Description	SOMMES DUES AU 01/07/2011
Creditor	CAISSE DE RETRAITE DU BATIMENT ET DES TRAVAUX PUBLICS (BTP-RETRA 7 Rue du Regard 75294, PARIS CEDEX 06
Debtor	BIA 8 RUE DE L HAUTIL 78700 CONFLANS STE HONORINE

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
12/08/2014	Bodacc B	Modification et mutation diverse
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 2691 - 421 183 898 RCS Versailles. BIA. Forme : Société par actions simplifiée. Administration : Directeur général : FAYCAL Namoun modification le 12 Juin 2003 Commissaire aux comptes suppléant : AUDITEX en fonction le 27 Juin 2005 Commissaire aux comptes titulaire : ERNST & YOUNG AUDIT en fonction le 27 Juin 2005 Président : NATEC en fonction le 04 Août 2014. Activité : . Commentaires : Modification de représentant.
05/08/2014	JAL	Appointment of the social representative
Semaine de l Ile-de-France (La) Date de décision : 29/07/2014 Société faisant l'objet d'une nomination : 421183898 - BIA, BIA, 8 RUE DE L HAUTIL, Z LES BOUTRIES, 78700 CONFLANS SAINTE HONORINE Nominé : 803167410 - NATEC, 8 RUE DE L HAUTIL, 78700 CONFLANS SAINTE HONORINE En la fonction de : Président
05/08/2014	JAL	Resignation / Revocation of the social representative
Semaine de l Ile-de-France (La) Date de décision : 29/07/2014 La société 421183898 - BIA, BIA, 8 RUE DE L HAUTIL, Z LES BOUTRIES, 78700 CONFLANS SAINTE HONORINE Fait l'objet du départ de Monsieur Gian Luigi ANGELANTONI, De Monsieur Namoun FAYCAL
08/10/2013	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 9654 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
21/08/2012	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 6430 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
28/11/2011	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 11050 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
23/09/2010	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 10910 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
12/08/2009	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 6857 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
12/08/2008	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 4837 - 421183898 RCS. BIA. Forme : Société par actions simplifiée. Adresse : 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
02/12/2007	Bodacc C	Avis de dépôt des comptes
7929 - 421 183 898. RCS Versailles BIA. Forme: Société par actions simplifiée. Adresse du siège social: 8 rue de l'Hautil 78700 Conflans Sainte-Honorine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
18/06/2006	Bodacc C	Avis de dépôt des comptes
3638 - RCS Versailles B 421 183 898. RC 99-B 1288. BIA. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: 8, rue de l Hautil,78700 Conflans-Sainte-Honorine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
24/07/2005	Bodacc C	Avis de dépôt des comptes
2714 - RCS Versailles B 421 183 898. RC 99-B 1288. BIA. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 8, rue de l Hautil,78700 Conflans-Sainte-Honorine. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
12/07/2005	Bodacc B	Modifications et mutations diverses
1530 - RCS Versailles B 421 183 898. RC 99-B 1288. BIA. Forme : S.A.S. Nom commercial : Bia. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : AUDITEURS ET CONSEILS ASSOCIES S.A. Commissaire aux comptes suppléant partant : MAHE (François). Co-commissaire aux comptes titulaire partant : AMYOT EXCO GRANT THORNTON S.A. Co-commissaire aux comptes suppléant partant : IGEC AUDIT ET CONSEIL S.A. Nomination d'un commissaire aux comptes suppléant : AUDITEX. Nomination d'un commissaire aux comptes titulaire : ERNST & YOUNG AUDIT.
25/06/2003	Bodacc B	Modifications et mutations diverses
RCS Versailles B 421183898 RC 99-B 1288 BIA. Forme : S.A.S Nom commercial: Bia. Commentaires : modification survenue sur l'administration. Administration : modification d'un directeur général : FAYCAL (Namoun). Nomination d'un co- commissaire aux comptes titulaire : AMYOT EXCO GRANT THORNTON S.A. Nomination du président : ANGELANTONI ( Gian, Luigi). Nomination d'un co- commissaire aux comptes suppléant : IGEC AUDIT ET CONSEIL S.A.
09/03/2000	Bodacc B	Modifications et mutations diverses
*. RCS Versailles B 421 183 898 RC 99-B 1288 BIA. Forme : S.A.S Nom commercial: Bia. Commentaires : modification survenue sur l'administration. Administration : suppression : commissaire aux comptes titulaire : CLEMENT CONSEIL ET AUDIT. Nomination en qualité de commissaire aux comptes titulaire : AUDITEURS ET CONSEILS ASSOCIES S.A. Suppression : commissaire aux comptes suppléant : HOLTZMANN (Jean-Claude). Nomination en qualité de commissaire aux comptes suppléant : MAHE (François).
05/03/2000	Bodacc B	Modifications et mutations diverses
RCS Versailles B 421183898 RC 99-B 1288 BIA. Forme : S.A.S Nom commercial: Bia. Commentaires : modification survenue sur l'administration. Administration : président partant : SIGRIST (Jean- Christophe). Nomination du président : FAYCAL (Namoun).
24/02/2000	Bodacc B	Modifications et mutations diverses
*. RCS Versailles B 421 183 898 RC 99-B 1288 BIA. Forme : S.A.S. Capital : 9 150 000 F Nom commercial: Bia. Adresse du siège social : 8, rue de L'Hautil 78700 Conflans-Sainte-Honorine. Commentaires : modification survenue sur l'adresse du siège social et l'administration. Administration : nomination en qualité de président : SIGRIST (Jean-Christophe) Nomination en qualité de commissaire aux comptes titulaire : CLEMENT CONSEIL ET AUDIT. Nomination en qualité de commissaire aux comptes suppléant : HOLTZMANN (Jean-Claude).
16/01/2000	Bodacc B	Modifications et mutations diverses
RCS Paris B 421183898 RC 98-B 18072 B.I. A. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : SIGRIST (Jean-Christophe). Associés en nom partants : STE D'ETUDES TECHNIQUES ET D'ENTREPRISES STE NOUVELLE DES ETABLISSEMENTS JULES VERGER ET DELPORTE LES ELECTRICIENS DE FRANCE V.D.
26/09/1999	Bodacc B	Modifications et mutations diverses
RCS Paris B 421183898 RC 98-B 18072 BIA. Forme : S.N.C. Commentaires : modification survenue sur l'administration. Administration : nomination du commissaire aux comptes titulaire : CLEMENT CONSEIL ET AUDIT. Nomination du commissaire aux comptes suppléant : HOLTZMANN (Jean-Claude).
10/07/1999	Bodacc B	Modifications et mutations diverses
RCS B 421183898 RC 99-B 01288 BIA. Forme : S.N.C. Adresse du siège social : 127 rue de Saussure, 75017 Paris Etablissement principal: Activité : fabrication d' instrumentation scientifique et technique. Adresse : Z.A. Les Boutries, 8 rue de l'Hautil, 78700 Conflans-Sainte- Honorine Etablissement principal acquis par apport-fusion. Commentaires : cette demande concerne le transfert de l' établissement principal de Paris à Conflans-Sainte-Honorine. Par contre le siège social de la société reste fixé à Paris. Il s'agit d'un siège de domiciliation sans activité Date de début d'activité: 1er janvier 1999 Propriétaire SOCIETE NOUVELLE DES ETABLISSEMENTS JULES VERGER ET DELPORTE- LES ELECTRICIENS FRANCE V.D. RCS B 320048945.
20/06/1999	Bodacc B	Modifications et mutations diverses
RCS Paris B 421183898 RC 98-B 18072 B.I. A. Forme : S.N.C. Commentaires : modification survenue sur l' administration. Administration : gérant non associé partant : MARTINEZ (Jean- Louis). Nomination du gérant non associé : SIGRIST (Jean-Christophe).
30/04/1999	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 421 183 898 RC RC 98- B 18072 BIA. Forme : S.N.C. Commentaires : modification survenue sur la date de début d'activité Date de début d' activité: 31 décembre 1998.
12/02/1999	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 421 183 898 RC RC 98- B 18072 BIA. Forme : S.N.C. Capital : 9 150 000 F. Adresse du siège social : 127, rue de Saussure 75017 Paris. Activité : fabrication d'instrumentation scientifique et technique. Commentaires : prise d'activité Date de début d' activité: 1er janvier 1999.
09/01/1999	Bodacc A	Création d'établissement
RCS *. RCS Paris B 421 183 898 RC RC 98- B 18072 BIA. Forme : S.N.C. Capital : 10 000 F. Adresse du siège social : 127, rue de Saussure 75017 Paris. Administration : gérant non associé : MARTINEZ (Jean- Louis). Associés en nom : SOCIETE D' ETUDES TECHNIQUES ET D'ENTREPRISES SOCIETE NOUVELLE DES ETABLISSEMENTS JULES VERGER ET DELPORTE LES ELECTRICIENS DE FRANCE V.D.

Company events history

Date	Description
12/08/2014	Bodacc B: Various editing or changing
05/08/2014	Legal Gazette: Resignation / Revocation of the social representative
04/08/2014	New chairman (CEO, CoB)
04/08/2014	Amendment
29/07/2014	Legal Gazette: Appointment of the social representative
20/10/2013	Update Rating
20/10/2013	Update Limit
16/10/2013	Update Rating
16/10/2013	Update Limit
08/10/2013	Bodacc C : Deposit accounts notice
25/09/2013	Update Limit
25/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/07/2013	Update Rating
18/07/2013	Update Limit
31/12/2012	New accounts available
01/09/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/08/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
28/11/2011	Bodacc C : Deposit accounts notice
22/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
08/11/2011	New Filling of Social Security preferential right
08/11/2011	Unfiling of a Social Security preferential right
03/08/2011	New Filling of Social Security preferential right
03/08/2011	Unfiling of a Social Security preferential right
24/01/2011	Preferential right lapsed
31/12/2010	New accounts available
27/12/2010	Unfiling of a Social Security preferential right
27/12/2010	New Filling of Social Security preferential right
14/12/2010	Unfiling of a Social Security preferential right
14/12/2010	New Filling of Social Security preferential right
23/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
12/08/2009	Bodacc C : Deposit accounts notice
04/08/2009	Collection of preferential rights activated for this company
31/12/2008	New accounts available
12/08/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
27/06/2005	Changement de Commissaire aux Comptes
27/06/2005	Acte modificatif
27/06/2005	Minutes of general meeting of shareholders
27/06/2005	Private document
27/06/2005	New auditor
27/06/2005	Appointment/resignation of company officers
31/12/2004	New accounts available
31/12/2003	New accounts available
12/06/2003	PV d'Assemblée
12/06/2003	Nomination/démission des organes de gestion
12/06/2003	Acte sous seing privé
12/06/2003	Modification du Conseil d'Administration
12/06/2003	Changement de Président (PDG, PCA)
12/06/2003	Acte modificatif
12/06/2003	Changement de Commissaire aux Comptes
03/10/2002	Acte modificatif
03/10/2002	Acte sous seing privé
03/10/2002	PV d'Assemblée
03/10/2002	Statuts mis à jour
23/07/2001	Acte modificatif
23/07/2001	PV d'Assemblée
23/07/2001	Acte sous seing privé
23/07/2001	Conversion du Capital Social en Euros
23/07/2001	Statuts mis à jour
21/02/2000	Nomination/démission des organes de gestion
21/02/2000	Acte sous seing privé
21/02/2000	Changement de Président (PDG, PCA)
21/02/2000	PV d'Assemblée
21/02/2000	Changement de Commissaire aux Comptes
10/02/2000	PV d'Assemblée
10/02/2000	Acte modificatif
10/02/2000	Statuts mis à jour
10/02/2000	Transfert du Siège dans le ressort du Tribunal de Commerce
10/02/2000	Immatriculation secondaire devient principale
10/02/2000	Acte sous seing privé
04/01/2000	Changement de Forme Juridique sans changement de catégorie
04/01/2000	Statuts mis à jour
04/01/2000	Acte sous seing privé
04/01/2000	Changement de Forme Juridique avec changement de catégorie
04/01/2000	PV d'Assemblée
13/09/1999	Acte sous seing privé
13/09/1999	Nomination/démission des organes de gestion
13/09/1999	PV d'Assemblée
08/06/1999	Nomination/démission des organes de gestion
08/06/1999	Acte sous seing privé
08/06/1999	PV d'Assemblée
08/06/1999	Changement de Gérant
28/01/1999	Acte sous seing privé
28/01/1999	Modification de l'objet social
28/01/1999	Augmentation de Capital
28/01/1999	Apport Partiel
28/01/1999	Statuts mis à jour
28/01/1999	PV d'Assemblée
15/12/1998	Acte modificatif
15/12/1998	Formation de Société
15/12/1998	Statuts
15/12/1998	Acte sous seing privé
15/12/1998	Nomination/démission des organes de gestion

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.02
UK Pound	1	Rs.99.42
Euro	1	Rs.77.84

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIS

RATING EXPLANATIONS

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

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

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

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

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

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