MIRA INFORM REPORT

Report No. :	337729
Report Date :	26.08.2015

IDENTIFICATION DETAILS

Name :	OLDHAM
Registered Office :	Zone Industrielle Est, Rue Mathieu Orfila, 62027 Arras Cedex
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	December 2000
Com. Reg. No.:	433 953 379
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Subject is engaged in manufacturing of scientific and technical instrumentation
No. of Employee :	100 to 199

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 more than 84 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 increased by 0.4% in 2014. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.4% in the fourth quarter of 2014. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 24.3% in the fourth quarter of 2014. 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% of GDP in 2014, while France's public debt rose from 68% of GDP to more than 95% in 2014, and may hit 100% by 2016. Elected on a conventionally leftist platform, President Francois HOLLANDE surprised and angered many supporters with a January 2014 speech announcing a sharp change in his economic policy, recasting himself as a liberalizing reformer. The government's budget for 2014 shifted the balance of fiscal consolidation from taxes to a total of $24 billion in spending cuts. In December 2014, HOLLANDE announced additional reforms, including a plan to extend commercial business hours, liberalize professional services, and sell off $6.2-12.4 billion in state owned assets. France’s tax burden remains well above the EU average and income tax cuts over the past decade are being partly reversed, particularly for higher earners. The top rate of income tax is 41%. The government is allowing a 75% payroll tax on salaries over $1.24 million to lapse.

Source : CIA

Company name

OLDHAM

Enquiries Trend

SIRET	433 953 379 00024
Name	OLDHAM
Acronym	-
Trade name	-
Status	Economically active
Postal Address	OLDHAM ZONE INDUSTRIELLE EST RUE MATHIEU ORFILA 62027 ARRAS CEDEX
Share Capital	20,064,825 Euros
Incorporiation Date	12/2000
Activity (APE)	Scientific and technical instrumentation manufacturing (2651B)	RCS Registration	RCS Arras B 433 953 379
Formation Date	12/2000	EUR VAT Number	FR63433953379
Deregistration Date	-	Last account Date	31/12/2013
Court Registry Number	20 0 0B00369	Telephone	05 62 73 59 10
Registration Court	Arras (62)	Fax	05 62 73 59 18
Nationality	France
		Legal form	Simplified Joint Stock Company with Single Associate
		Currency	Euros

Key Financials

YEAR TO DATE	TURNOVER	GROSS OPERATING SURPLUS	SHAREHOLDER'S EQUITY	NET RESULT	EMPLOYEES
31/12/2013	39,055,269 €	6.60% Turnover	32,415,994 €	524,291 €	200 to 249 employees
31/12/2012	42,051,253 €	4.74% Turnover	26,346,879 €	6,640,430 €	-
31/12/2011	40,144,511 €	5.23% Turnover	19,706,448 €	2,871,922 €	-

Ultimate Holding Company

Name	Country	Company Number
SIMTRONICS		478482383
Affiliation links.
2 companies in the international Group Structure from 2 countries.

Directors

Current Directors

4

Preferential Right

No social security and tax office preferential right to date

Payment Information Summary – Trade Payment Data

Total number of Invoices available	133
Total number of Invoices paid within or up to 30 days after the due date	103
Total number of Invoices paid more than 30 days after the dues date	22
Total number of Invoices currently outstanding where the due date has not yet been reached	8
Total number of Invoices currently outstanding beyond the due date	0

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	2651B	Activity	Simplified Joint Stock Company with Single Associate
Formation Date	12/2000	Reason for Formation	Other
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	Other
Trading Address	RUE MATHIEU ORFILA  62000 ARRAS	Department	Pas-de-Calais (62)
Location Surface	-	District	1
City	ARRAS	Status	Economically active
Business Pages FT®	APPAREILS DE MESURE, DE CONTROLE, DE REGULATION ET DE DETECTION	Region	Nord-Pas-de-Calais
		Area	96
		Size of Urban Area	-

Ultimate Parent(s)

1 ultimate parent company/companies for this company

Company Name	Activity (APE)	APE/NAF Code	City	Post Code
SIMTRONICS	Fabrication d'instrumentation scientifique et technique	2651B	AUBAGNE	13400

Other Establishment(s)

Regionality	Legal unit with multiple establishments in many areas having at least 50% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 50 to 80% of workforce
Branches	10 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
OLDHAM	Head Office	2651B	Scientific and technical instrumentation manufacturing	ARRAS	62000
OLDHAM	Branch	2651B	Scientific and technical instrumentation manufacturing	VITROLLES	13127
OLDHAM	Branch	2651B	Scientific and technical instrumentation manufacturing	TOULOUSE	31200
OLDHAM	Branch	2651B	Scientific and technical instrumentation manufacturing	CHANTEPIE	35135
OLDHAM	Branch	2651B	Scientific and technical instrumentation manufacturing	CESSON SEVIGNE	35510

Workforces

Workforce at address

100 to 199 employees

Company workforce

200 to 249 employees

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

The shareholder's equity is 32,415,994 €

The ratio total assets to total liabilities is 4.18

The creditor days are 34.94

The decrease in the gearing percentage over the last two accounting periods is 17 %

The risk provisions are 1,710,136 €

The total assets are 42,594,444 €

The company has 4 directors

Industry code with low risk rating

Department code with low risk rating

The liabilities are 8,468,314 €

The net current assets are 15,470,103 €

The net turnover is 39,055,269 €

The pre-tax profit is 1,354,235 €

The sales to current assets ratio is 2.52

The stock to turnover ratio is 12.36

The return on total assets employed is 3.18

High risk workforce size

The decrease of tangible fixed assets over the last two accounting periods is 31 %

Industry comparison

Activity (APE)

Scientific and technical instrumentation manufacturing(2651B)

Collective procedures

No judgment information for the company

Preferential rights details and history

Summary of preferential rights

Company monitored since	12/08/2009
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

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

201001027

20/10/2010

30/11/2010

REUNI RETRAITE SALARIES 154 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET

5,517 EUR

-

Reason for closure	Crossed Off
Court	Arras
Creditor	REUNI RETRAITE SALARIES 154 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET
Debtor	INDUSTRIAL SCIENTIFIC - OLDHAM  Zone Industrielle Est rue Orfila 62027 Arras Cedex, Arras Cedex

Group Data

Ultimate parent company	SIMTRONICS
Direct parent	SIMTRONICS - 100 %
Group – Number of companies	7
Linkages – Number of companies	2
Number of countries	2

	NAME	SIREN	PARTS	LAST ACCOUNT PUBLISHED
1	SIMTRONICS	478482383	-	31/12/2013
2	OLDHAM	433953379	100 %	31/12/2013
3	INDUSTRIAL SCIENTIFIC OLDHAM CH SARL	-	100 %	-
	WINTER GASWARNANLAGEN	-	100 %	-
	OLDHAM DO BRESIL	-	100 %	-
	INDUSTRIAL SCIENTIFIC OLDHAM CS SRO	-	100 %	-
	INDUSTRIAL SCIENTIFIC UK LTD	04144959	100 %	31/12/2013

Linkages

COMPANY NAME	SIREN	LAST ACCOUNT PUBLISHED	TURNOVER
OLDHAM-WINTER GMBH	HRB 2644	31/12/2013	-
INDUSTRIAL SCIENTIFIC CORP	-	-	40,865,000 $

Shareholder(s)

Name	M.B.V ET ASSOCIES
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth
Name	BDO FRANCE
Name of representative
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Director(s)

Name	M. MAGEE SEAN
Manager position	President			Date of birth		13/08/1971
Place of birth	UTAH(ETATS-UNIS D'AMERIQUE)
Type	Individual			Name at birth
Name		M. FOURLEGNIE THIBAULT
Manager position		Managing director	Date of birth		14/12/1977
Place of birth		LILLE (59)
Type		Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M. ARLOTT COLIN	31/08/1960 - HOUNSLOW GRANDE BRETAGNE
President	CUNNINGHAM THOMAS MICHAEL	25/08/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)
President	M. CUNNINGHAM THOMAS MICHAEL	25/08/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)
President	M. FOURLEGNIE THIBAULT	14/12/1977 - LILLE (59)
President	Mme. MARKIN ADAM	06/02/1966 - NELSON(ROYAUME-UNI)
President	Mme. MARKIN ADAM	07/02/1966 - NELSON(ROYAUME-UNI)
President	M. SANTRAINE JEAN	SOISSONS
Administrator	M. DASSONVILLE PHILIPPE	27/06/1971 - DENAIN
Administrator	FINANCIERE ODESSA	-
President	M. CUNNINGHAM THOMAS MICHAEL	25/08/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
	10/04/2015	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1030 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MAGEE Sean Directeur général : FOURLEGNIE Thibault Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : .  Commentaires : Modification survenue sur l'administration.
	03/04/2015	JAL	Appointment of the social representative
Syndicat agricole (Le) Date de décision : 27/02/2015 Société faisant l'objet d'une nomination : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Sean MAGEE, NC 28173 WAXHAW En la fonction de : Président
	03/04/2015	JAL	Resignation / Revocation of the social representative
Syndicat agricole (Le) Date de décision : 27/02/2015 La société 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Fait l'objet du départ de Monsieur Adam MARKIN, 6008 Foggy Glen Place, MATTHEWS
	21/02/2014	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1060 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MARKIN Adam Directeur général : FOURLEGNIE Thibault Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : .  Commentaires : Modification survenue sur l'administration.
	31/01/2014	JAL	Appointment of the social representative
Syndicat agricole (Le) Date de décision : 16/01/2014 Société faisant l'objet d'une nomination : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Thibault FOURLEGNIE, 62116 ABLAINZEVELLE En la fonction de : Directeur général
	11/12/2013	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2591 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MARKIN Adam Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : .  Commentaires : Modification survenue sur l'administration.
	01/12/2013	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 482 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Activité : En France et à l'étranger : La conception et la fabrication d'équipements industriels de toute sorte et notamment d'équipements relatifs à la détection de gaz fabrication développement et commercialisation de détecteurs fixes de gaz explosifs inflammables et toxiques ainsi que d'analyseurs de gaz à l'émission et autres produits Lies à l'utilisation de gaz.  Commentaires : Modification survenue sur l'activité.
	30/11/2013	Bodacc A	Vente et cession : Vendeur
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1473 - 489 995 761 RCS Arras. INDUSTRIAL SCIENTIFIC FRANCE. Forme : Société par actions simplifiée. Administration : Président : LE MINTER Cédric Commissaire aux comptes titulaire : KPMG AUDIT (SA) Commissaire aux comptes suppléant : SCP JEAN CLAUDE ANDRE ET AUTRES (SCP). Capital :12040000 EUR. Adresse : Zone Industrielle est rue Orfila, 62000 Arras.  Origine du fonds : Etablissement principal acquis par achat au prix stipulé de 444150 Euros. Etablissement : Etablissement principal. Activité : Conception fabrication négoce et distribution de tous équipements industriels et plus spécialement ceux relatifs à la détection de gaz, la fourniture de tous types de prestations de services en relation avec tous equipements industriels et notamment des équipements portables de détection de gaz et de manière générale, l'ensemble des opérations pouvant etre réalisées en lien avec des equipements industriels. l'acquisition et la gestion de toutes valeurs mobilières de tous biens et droits mobiliers et immobiliers dans toutes sociétés. Adresse : Zone Industrielle est rue Orfila, 62000 Arras.  Précédent propriétaire : OLDHAM. 433 953 379 RCS Arras.  Date de commencement de l’activité : 28/04/2006. Publication légale : Le syndicat agricole du 15/11/2013. Oppositions : au siège social du cessionnaire Zone Industrielle, est rue Orfila 62000 Arras. Descriptif : Modification survenue sur l'activité. Commentaires : Achat d'un établissement principal par une personne morale lors de l'immatriculation.
	29/11/2013	JAL	Appointment of the social representative
Syndicat agricole (Le) Date de décision : 31/10/2013 Société faisant l'objet d'une nomination : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Adam MARKIN, NC 28704 MATTHEWS En la fonction de : Président
	29/11/2013	JAL	Resignation / Revocation of the social representative
Syndicat agricole (Le) Date de décision : 31/10/2013 La société 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Fait l'objet du départ de Monsieur Thibault FOURLEGNIE, Grunerstrasse 33, 40239, DUSSELDORF
	28/11/2013	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 673 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Capital : 20064825 EUR. Activité : .  Commentaires : Modification survenue sur le capital.
	20/11/2013	JAL	Modification of the share capital
Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 30/10/2013 La société : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS a subi une diminution de son capital socialdésormais de 14 520 000 €  Date d'effet : 30/10/2013
	15/11/2013	JAL	Activity or goodwill cession: Seller
Syndicat agricole (Le) Date de décision : 30/10/2013  Cédant : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Cessionnaire : 489995761 - INDUSTRIAL SCIENTIFIC FRANCE, RUE MATHIEU ORFILA, ZI EST, 62000 ARRAS Prix de vente : 444150 € Date d’effet : 30/10/2013
	05/11/2013	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 730 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : FOURLEGNIE Thibault Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : .  Commentaires : Modification survenue sur la dénomination, l'administration.
	31/10/2013	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 7036 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
	20/09/2013	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 738 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : FOURLEGNIE Thibault Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Activité : .  Commentaires : Modification survenue sur l'administration.
	04/09/2013	JAL	Appointment of the social representative
Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 19/08/2013 Société faisant l'objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Thibault FOURLEGNIE, 40239 DUSSELDORF En la fonction de : Président
	04/09/2013	JAL	Resignation / Revocation of the social representative
Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 19/08/2013 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Fait l'objet du départ de Monsieur Thomas Michael CUNNINGHAM
	30/08/2012	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 7717 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
	12/10/2010	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8073 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
	23/03/2010	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 898 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : CUNNINGHAM Thomas, Michael Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand.  Commentaires : Modification survenue sur l'administration.
	23/02/2010	JAL	Appointment of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Thomas CUNNINGHEM, 40 AVENUE 40 AVENUE DE VILLEPREUX, 92420 VAUCRESSON En la fonction de : Président
	23/02/2010	JAL	Resignation / Revocation of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 14/01/2010 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Fait l'objet du départ de Monsieur Justin ELHATTAN
	24/12/2009	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1004 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MC ELHATTAN Justin Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand.  Commentaires : Modification survenue sur l'administration.
	25/11/2009	JAL	Resignation / Revocation of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 19/10/2009 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Fait l'objet du départ de Monsieur Colin ARLOTT
	25/11/2009	JAL	Appointment of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS  Nominé : Monsieur Justin ELHATTAN En la fonction de : Président
	20/09/2009	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 734 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
	14/10/2008	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8386 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila, 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
	28/02/2008	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2007 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : ARLOTT Colin. Commissaire aux comptes titulaire : KPMG () représenté par DE BRIANSON Christian. Commissaire aux comptes suppléant : DESBARRIERES Bertrand.  Commentaires : Modification survenue sur l'administration, la dénomination, la forme juridique.
	13/02/2008	Bodacc B	Modification et mutation diverse
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2580 - 433 953 379 RCS Arras. OLDHAM. Forme : Société anonyme. Administration : Président directeur général et administrateur : ARLOTT Colin. Administrateur : FINANCIERE ODESSA. (SAD) représenté par MC ELHATTAN Kent Mac. Administrateur : DASSONVILLE Philippe. Commissaire aux comptes titulaire : KPMG () représenté par DE BRIANSON Christian. Commissaire aux comptes suppléant : DESBARRIERES Bertrand.  Commentaires : Modification survenue sur l'administration.
	15/06/2007	Bodacc B	Modifications et mutations diverses
1806 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateurs : FINANCIERE ODESSA, représentée par McELHATTAN (Kent, Ditty) (Nom d'usage : McELHATTAN) DASSONVILLE (Philippe) (Nom d'usage : DASSONVILLE). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 15 mai 2006.
	03/09/2006	Bodacc B	Modifications et mutations diverses
1657 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateurs : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) (Nom d'usage : WOODHEAD) DASSONVILLE (Philippe) (Nom d'usage : DASSONVILLE). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 10 mai 2006.
	25/08/2006	Bodacc B	Modifications et mutations diverses
2728 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateur : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) (Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 26 juillet 2005.
	23/06/2006	Bodacc C	Avis de dépôt des comptes
4103 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme: S.A. Adresse du siège social: Zone Industrielle Est rue Orfila,62027 Arras. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
	17/10/2005	Bodacc C	Avis de dépôt des comptes
4387 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme: S.A. Adresse du siège social: Zone Industrielle Est rue Orfila,62027 Arras. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
	14/10/2004	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE ( Jean, Marc) ( Nom d'usage : SANTRAINE). Directeur général délégué : PRAT ( Claude) ( Nom d'usage : PRAT). Administrateur : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 21 juin 2004.
	06/05/2004	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : PRAT (Claude) ( Nom d' usage : PRAT). Administrateurs : PARMENTIER (Alain) ( Nom d'usage : PARMENTIER) FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 29 septembre 2003.
	25/04/2003	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 14 520 000 euros. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER) FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 30 septembre 2002.
	13/02/2002	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 14 520 000 euros. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur le capital (augmentation) et l' administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaires aux comptes suppléants : COLICHE (Daniel) ( Nom d'usage : COLICHE) DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 30 novembre 2001.
	15/04/2001	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras. Commentaires : modification survenue sur l'adresse du siège social. Transfert du siège social et du principal établissement de la Z.I. Est, rue Alexandre-Fleming, Arras. Adjonction de l'activité, fabrication, développement et commercialisation de détecteurs fixes et/ou portables de gaz explosifs inflammables et toxiques ainsi que d'analyseurs de gaz à l' émission et d'autres produits liés à l' utilisation de gaz. Date d'effet : 28 décembre 2000.
	04/04/2001	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER). Commissaire aux comptes titulaire : ERNST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) ( Nom d'usage : COLICHE). Date d'effet : 28 décembre 2000.
	06/03/2001	Bodacc A	Création d'établissement
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Administration : président du conseil d' administration : COLES (Richard). Administrateurs : BLACKWELL (Nathan) et DUESENBERG (Mark). Commissaire aux comptes titulaire : ERNEST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables de gaz explosifs, inflammables, toxiques analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : Z. I. Est, rue Alexander-Fléming, 62000 Arras Elément d'une branche d'activité acquis par apport global au montant évalué à 181 000 000 F. Commentaires : Le montant global comprend également les apports sis à Montauban, Vitrolles, Montigny-les-Bretonneux, Cesson, Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. RCS Arras B 561920323 RC 56- B 32 Publication légale: La Gazette Nord Pas-de-Calais du 12 janvier 2001 déclaration de créances: au greffe du tribunal de commerce d'Arras.
	27/02/2001	Bodacc A	Création d'établissement
RCS Montauban 433953379 A dater du: 31 janvier 2001 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras ETABLISSEMENT SECONDAIRE. Activité : fabrication, développement et commercialisation de détecteurs fixes et/ou portables, de gaz explosifs, inflammables et toxiques, d'analyseurs de gaz à émission et tous autres produits liés à l'utilisation du gaz. Adresse : 1070 boulevard Blaise-Doumerc, 82000 Montauban Etablissement secondaire acquis par apport au montant global évalué à 181 000 000 de F. Commentaires : montant global comprenant également les apports sis à Arras, Vitrolles, Montigny-le-Bretonneux, Cesson-Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER. RCS Arras B 561920323 RC 94-B 149 Publication légale: Le Journal du Palais de Tarn-et- Garonne du 18 janvier 2001 déclaration de créances: au tribunal de commerce de Montauban.
	23/02/2001	Bodacc A	Vente et cession
RCS non encore inscrit. OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et d' autres produits liés à l'utilisation du gaz. Adresse : Z.I. Est, rue Alexander- Fleming, 62000 Arras ETABLISSEMENT SECONDAIRE. Adresse : 201 route de la Seds, 13127 Vitrolles Etablissement secondaire acquis par apport au montant évalué à 181 000 000 F. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. RCS Arras B 561920323 RC 96- B 573 Publication légale: Les Nouvelles publications du 12 janvier 2001 déclaration de créances: au tribunal de commerce de Salon-de-Provence.
	23/02/2001	Bodacc A	Création d'établissement
RCS Arras B 433953379 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : 86 rue Jean-Bertin, 69100 Villeurbanne Etablissement principal acquis par apport au montant global évalué à 181 000 000 F. Montant global comprenant également les apports sis à Arras, Montauban, Vitrolles, Montigny- le-Bretonneux et Cesson-Sévigné. Le total de l'actif est de 231 932 042,67 F pour un passif de 50 932 042,67 F, soit une valeur nette de 181 000 000 F. Date d'effet : 28 décembre 2000. Précédent propriétaire : exploitant S.A. HAWKER. RCS Arras B 561920323 Publication légale: Le Tout Lyon du 11 janvier 2001. Oppositions : au tribunal de commerce de Lyon.
	18/02/2001	Bodacc B	Modifications et mutations diverses
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 28 décembre 2000.
	13/02/2001	Bodacc A	Création d'établissement
RCS Arras B 433953379 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement et commercialisation de détecteurs, fixes et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : forum de la Rocade, immeuble Delta, 40 rue Bignon, 35510 Cesson-Sévigné Etablissement principal acquis par apport au montant global évalué à 181 000 000 de F, comprenant également les apports sis à Arras, Montauban, Vitrolles, Montigny-le- Bretonneux et Villeurbanne Date de début d'activité: 28 décembre 2000. Précédent propriétaire : exploitant HAWKER. RCS Arras B 561920323 Publication légale: Les Informations de Gacilly du 17 janvier 2001. Oppositions : au tribunal de commerce de Rennes.
	01/02/2001	Bodacc A	Création d'établissement
RCS Versailles B 433953379 RC AP-B 53 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexandrer-Fleming, 92000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : 27 avenue des Trois- Peuples, 78180 Montigny-le-Bretonneux Ensemble des éléments actifs et passifs de la branche d'activité citée ci- dessus acquis par apport au montant évalué à 181 000 000 de F, montant global concernant également les fonds sis à Arras, Montauban, Vitrolles, Cesson-Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. OLDHAM FRANCE. RCS B 561920323 Publication légale: Les Annonces de la Seine du 11 janvier 2001 déclaration de créances: au tribunal de commerce de Versailles.
	28/01/2001	Bodacc A	Création d'établissement
RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Administration : président du conseil d' administration : COLES (Richard) ( Nom d'usage : COLES). Administrateurs : BLACKWELL (Nathan) ( Nom d'usage : BLACKWELL) DUESENBERG (Mark) ( Nom d' usage : DUESENBERG). Commissaire aux comptes titulaire : ERNST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) ( Nom d' usage : COLICHE) Cette société se constitue Etablissement principal: Activité : tant en France qu'à l' étranger, conception et fabrication d' équipements industriels de toutes sortes notamment d'équipements relatifs à la détection de gaz. Adresse : Z.I. Est, rue Alexander-Fleming, 62000 Arras Date de début d'activité: 11 décembre 2000.

Synthesized Accounts

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	29/12/2014	24/10/2013	31/10/2012
Activity Code	2651B	2651B	2651B
Employees	224	240	245

Active account

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	27,114,848	-2.4 %	27,787,917	22.8 %	22,632,874	128,337	21027.8 %
Intangible assets	19,893,303	1.3 %	19,646,727	0.5 %	19,555,752	7,834	253835.4 %
Tangible assets	1,930,075	-30.8 %	2,790,002	2.3 %	2,727,226	47,944	3925.7 %
Financial assets	5,291,470	-1.1 %	5,351,188	0.0 %	5,349,896	6,680	79113.6 %
Net current assets	15,470,103	-35.8 %	24,095,776	7.3 %	22,464,873	811,879	1805.5 %
Stocks	4,828,912	-30.1 %	6,909,670	-0.5 %	6,941,344	151,998	3077.0 %
Advanced payments	469,457	1635.0 %	27,058	-85.3 %	183,462	0	0%
Receivables	8,067,938	-39.7 %	13,374,789	6.8 %	12,521,431	356,733	2161.6 %
Securities and cash	2,103,797	-44.4 %	3,784,259	34.3 %	2,818,636	154,498	1261.7 %
Prepaid expenses	-	-	-	-	-	341	-
Accounts of regularization	9,494	-98.0 %	467,872	-42.4 %	811,629	0	0%
Total Assets	42,594,444	-18.6 %	52,351,565	14.0 %	45,909,373	1,002,338	4149.5 %

Passive Account

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Shareholders' equity	32,415,994	23.0 %	26,346,879	33.7 %	19,706,448	454,319	7035.1 %
Share capital	20,064,825	38.2 %	14,520,000	0%	14,520,000	100,000	19964.8 %
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1,710,136	2.4 %	1,669,784	-5.5 %	1,767,446	0	0%
Liabilities	8,468,314	-65.2 %	24,334,902	-0.4 %	24,435,478	451,282	1776.5 %
Financial liabilities	2,500	-48.7 %	4,877	-64.3 %	13,659	61,169	-95.9 %
Advanced payments received	281,610	375.3 %	59,251	-3.4 %	61,355	0	0%
Trade account payables	3,738,569	-77.0 %	16,275,468	23.5 %	13,179,023	135,240	2664.4 %
Tax and social liabilities	4,063,966	16.2 %	3,498,705	-2.8 %	3,600,978	151,965	2574.3 %
Other debts and fixed assets liabilities	236,340	-94.4 %	4,212,573	-42.4 %	7,318,167	7,295	3139.8 %
Account regularization	145,329	-48.8 %	284,028	8.3 %	262,296	0	0%
Total liabilities	42,594,444	-18.6 %	52,351,564	14.0 %	45,909,373	1,002,338	4149.5 %

Results

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Sales of Goods	41,127,069	-16.7 %	49,385,644	12.3 %	43,974,098	1,237,854	3222.4 %
Net turnover	39,055,269	-7.1 %	42,051,253	4.7 %	40,144,511	1,196,785	3163.3 %
of which net export turnover	23,001,586	30.5 %	17,624,641	12.1 %	15,728,010	27,392	83871.9 %
Operating charges	40,728,558	-5.5 %	43,076,619	3.8 %	41,515,976	1,203,648	3283.8 %
Operating profit/loss	398,510	-93.7 %	6,309,025	156.7 %	2,458,122	36,600	988.8 %
Financial income	2,473,609	126.2 %	1,093,370	-32.4 %	1,617,967	1,723	143464.1 %
Financial charges	220,589	-66.1 %	649,946	-50.6 %	1,316,534	2,944	7392.8 %
Financial profit/loss	2,253,020	408.1 %	443,424	47.1 %	301,433	-168	1341183.3 %
Pretax net operating income	2,651,530	-60.7 %	6,752,449	144.7 %	2,759,555	37,358	6997.6 %
Extraordinary income	1,204,513	50424.9 %	2,384	-90.2 %	24,325	772	155925.0 %
Extraordinary charges	2,468,068	4840.5 %	49,956	-58.9 %	121,495	586	421072.0 %
Extraordinary profit/loss	-1,263,555	-2556.1 %	-47,572	51.0 %	-97,170	0	0%
Net result	524,291	-92.1 %	6,640,430	131.2 %	2,871,922	45,534	1051.4 %

Accounts – Active

Normal Account

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

Grand Total - Active Accounts (I to VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Grand Total (I to VI)	Net	42,594,444	-18.6 %	52,351,565	14.0 %	45,909,373
Gross	CO	56,440,784	-14.2 %	65,791,384	2.9 %	63,936,335
Amortisation	1A	13,846,340	3.0 %	13,439,819	-25.4 %	18,026,962

Non declared distributed capital (I)

		31/12/2013	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Total Active fixed asset (II)	Net	27,114,848	-2.4 %	27,787,917	22.8 %	22,632,874
Gross	BJ	38,370,171	-3.5 %	39,757,453	1.3 %	39,242,662
Amortisation	BK	11,255,323	-6.0 %	11,969,536	-27.9 %	16,609,788

Intangible fixed assets

		31/12/2013	Variation	31/12/2012	Variation	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%	0	0%	0
Gross	AF	0	0%	0	0%	0
Amortisation	AG	0	0%	0	0%	0
Goodwill	Net	19,410,616	0%	19,410,616	0%	19,410,616
Gross	AH	19,410,616	0%	19,410,616	0%	19,410,616
Amortisation	AI	0	0%	0	0%	5,000,000
Other intangible fixed assets	Net	482,687	104.4 %	236,111	62.7 %	145,136
Gross	AJ	1,607,756	30.4 %	1,232,495	16.9 %	1,054,228
Amortisation	AK	1,125,070	12.9 %	996,384	9.6 %	909,092
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 asset	Net	19,893,303	1.3 %	19,646,727	0.5 %	19,555,752

Tangilble fixed assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Lands	Net	29,728	0%	29,728	0%	29,728
Gross	AN	29,728	0%	29,728	0%	29,728
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	759,974	-5.3 %	802,533	5.0 %	764,560
Gross	AP	4,299,696	1.1 %	4,252,382	1.8 %	4,175,225
Amortisation	AQ	3,539,722	2.6 %	3,449,849	1.1 %	3,410,665
Plant	Net	777,081	-41.6 %	1,331,047	-4.3 %	1,391,549
Gross	AR	5,643,631	-14.1 %	6,570,869	2.5 %	6,411,144
Amortisation	AS	4,866,550	-7.1 %	5,239,822	4.4 %	5,019,595
Other tangible fixed assets	Net	331,356	-37.9 %	533,419	3.2 %	516,866
Gross	AT	2,055,337	-1.0 %	2,076,475	1.4 %	2,046,877
Amortisation	AU	1,723,981	11.7 %	1,543,056	0.9 %	1,530,011
Fixed assets in construction	Net	31,936	-65.8 %	93,275	280.4 %	24,523
Gross	AV	31,936	-65.8 %	93,275	280.4 %	24,523
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	1,930,075	-30.8 %	2,790,002	2.3 %	2,727,226

Financial assets

		31/12/2013	Variation	31/12/2012	Variation	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	5,267,092	-0.7 %	5,306,331	0%	5,306,331
Gross	CU	5,267,092	-12.9 %	6,046,756	0%	6,046,756
Amortisation	CV	0	0%	740,425	0%	740,425
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	0%	0
Other financial assets	Net	24,378	-45.7 %	44,857	3.0 %	43,565
Gross	BH	24,378	-45.7 %	44,857	3.0 %	43,565
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial assets	Net	5,291,470	-1.1 %	5,351,188	0.0 %	5,349,896

Current Assets (III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Assets	Net	15,470,103	-35.8 %	24,095,776	7.3 %	22,464,873
Gross	CJ	18,061,120	-29.4 %	25,566,060	7.1 %	23,882,046
Amortisation	CK	2,591,017	76.2 %	1,470,284	3.7 %	1,417,173

Stocks

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Raw materials	Net	1,548,997	-54.3 %	3,387,460	13.1 %	2,994,066
Gross	BL	3,830,033	-11.5 %	4,328,845	13.4 %	3,817,090
Amortisation	BM	2,281,036	142.3 %	941,385	14.4 %	823,024
Work in progress (goods)	Net	62,755	-37.2 %	99,953	-59.9 %	249,236
Gross	BN	62,755	-37.2 %	99,953	-59.9 %	249,236
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	0	0%	12,893
Gross	BP	0	0%	0	0%	12,893
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	2,707,321	22.1 %	2,217,415	-7.8 %	2,405,803
Gross	BR	2,855,997	23.1 %	2,319,418	-11.2 %	2,610,818
Amortisation	BS	148,676	45.8 %	102,003	-50.2 %	205,015
Goods for resale	Net	509,839	-57.7 %	1,204,842	-5.8 %	1,279,346
Gross	BT	509,839	-57.7 %	1,204,842	-5.8 %	1,279,346
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	4,828,912	-30.1 %	6,909,670	-0.5 %	6,941,344

Advance payments to suppliers

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Advance payments to suppliers	Net	469,457	1635.0 %	27,058	-85.3 %	183,462
Gross	BV	469,457	1635.0 %	27,058	-85.3 %	183,462
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Trade accounts receivable	Net	7,462,721	-41.4 %	12,742,905	6.3 %	11,989,372
Gross	BX	7,624,026	-41.7 %	13,087,922	6.4 %	12,296,627
Amortisation	BY	161,305	-53.2 %	345,017	12.3 %	307,255
Other debtors	Net	482,789	4.8 %	460,896	2.7 %	448,931
Gross	BZ	482,789	-11.1 %	542,775	2.3 %	530,810
Amortisation	CA	0	0%	81,879	0%	81,879
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	7,945,510	-39.8 %	13,203,801	6.2 %	12,438,303

Divers

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	2,103,797	-44.4 %	3,784,259	34.3 %	2,818,636
Gross	CF	2,103,797	-44.4 %	3,784,259	34.3 %	2,818,636
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	2,103,797	-44.4 %	3,784,259	34.3 %	2,818,636

Prepaid expenses

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Prepaid expenses	Net	122,428	-28.4 %	170,988	105.7 %	83,128
Gross	CH	122,428	-28.4 %	170,988	105.7 %	83,128
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013	Variation	31/12/2012	Variation	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	9,494	-98.0 %	467,872	-42.4 %	811,629
Gross		9,494	-98.0 %	467,872	-42.4 %	811,629

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Due within one year	CP	247	0%	0	0%	1,800
Due after one year	CR	24,131	0%	0	0%	41,765

Accounts – Passive

Grand Total - Passive Accounts (I to V)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Grand Total (I to V)	EE	42,594,444	-18.6 %	52,351,564	14.0 %	45,909,373

Shareholder Equity (I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total shareholders' equity (Total I)	DL	32,415,994	23.0 %	26,346,879	33.7 %	19,706,448
Equity and shareholders' equity	DA	20,064,825	38.2 %	14,520,000	0%	14,520,000
Issue and merger premiums	DB	9,004,762	0%	9,004,762	0%	9,004,762
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	588,888	24.9 %	471,350	0%	471,350
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	2,233,228	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0	0%	0	0%	0
Profits or losses brought forward	DH	0	0%	-4,289,663	40.1 %	-7,161,586
Profit or loss for the period	DI	524,291	-92.1 %	6,640,430	131.2 %	2,871,922
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	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Total provisions for risks and charges (Total III)	DR	1,710,136	2.4 %	1,669,784	-5.5 %	1,767,446
Risk provisions	DP	860,731	5.2 %	817,872	-26.4 %	1,111,628
Reserves for charges	DQ	849,405	-0.3 %	851,912	29.9 %	655,818

Liabilities (IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Liabilities (Total IV)	EC	8,468,314	-65.2 %	24,334,902	-0.4 %	24,435,478
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	2,500	-48.7 %	4,877	43.6 %	3,397
Sundry loans and financial liabilities	DV	0	0%	0	0%	10,262
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	281,610	375.3 %	59,251	-3.4 %	61,355
Trade accounts payables	DX	3,738,569	-77.0 %	16,275,468	23.5 %	13,179,023
Tax and social security liabilities	DY	4,063,966	16.2 %	3,498,705	-2.8 %	3,600,978
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	236,340	-94.4 %	4,212,573	-42.4 %	7,318,167

Translation loss (V)

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

Equalization accounts

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Deferred income	EB	145,329	-48.8 %	284,028	8.3 %	262,296

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	8,267,549	0%	0	0%	24,374,123
Of which current bank facilities	EH	2,500	0%	0	0%	3,397

Result account

1 - Operating result (I-II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating result (Total I-II)	GG	398,510	-93.7 %	6,309,025	156.7 %	2,458,122

2 - Financial result (V-VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Financial result (Total V-VI)	GV	2,253,020	408.1 %	443,424	47.1 %	301,433

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	2,651,530	-60.7 %	6,752,449	144.7 %	2,759,555

4 - Extraordinary result (VII-VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Extraordinary result (Total VII-VIII)	HI	-1,263,555	-2556.1 %	-47,572	51.0 %	-97,170

Profit or loss

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Profit or loss	HN	524,291	-92.1 %	6,640,430	131.2 %	2,871,922

Total Income (I+III+V+VII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Income (Total I+III+V+VII)	HL	44,805,190	-11.2 %	50,481,398	10.7 %	45,616,390

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Charges (Total II+IV+VI+VIII+IX+X)	HM	44,280,899	1.0 %	43,840,967	2.6 %	42,744,468

Operating income (I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total operating income (Total I)	FR	41,127,069	-16.7 %	49,385,644	12.3 %	43,974,098

Operating income (details)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Sale of goods for resale	FC	1,440,398	0%	0	0%	0
France	FA	1,440,398	0%	0	0%	0
Export	FB	0	0%	0	0%	0
Sale of goods produced	FF	27,871,242	-14.1 %	32,450,134	4.9 %	30,943,069
France	FD	14,308,376	-11.7 %	16,209,811	-1.3 %	16,426,376
Export	FE	13,562,866	-16.5 %	16,240,323	11.9 %	14,516,693
Sale of services	FI	9,743,629	1.5 %	9,601,119	4.3 %	9,201,442
France	FG	304,909	-96.3 %	8,216,801	2.8 %	7,990,125
Export	FH	9,438,720	581.8 %	1,384,318	14.3 %	1,211,317
Net turnover	FL	39,055,269	-7.1 %	42,051,253	4.7 %	40,144,511
France	FJ	16,053,683	-34.3 %	24,426,612	0.0 %	24,416,501
Export	FK	23,001,586	30.5 %	17,624,641	12.1 %	15,728,010
Stocked production	FM	-701,887	-54.7 %	-453,576	-1024.8 %	49,046
Self-constructed assets	FN	151,564	-50.1 %	303,870	11.3 %	273,133
Operating grants	FO	0	0%	807	-60.0 %	2,020
Release of reserves and provisions	FP	2,389,713	-67.7 %	7,408,186	115.4 %	3,439,316
Other income	FQ	232,410	209.5 %	75,104	13.7 %	66,072

Operating charges (II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total operating charges (Total II)	GF	40,728,558	-5.5 %	43,076,619	3.8 %	41,515,976

Exploitation charges

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Purchase of goods for resale	FS	5,020,696	0%	0	0%	0
Change in stocks of goods for resale	FT	1,097,362	0%	0	0%	0
Purchase of raw materials	FU	7,718,324	-45.7 %	14,205,599	-0.8 %	14,324,513
Change in stocks of raw materials	FV	-1,198,936	-95.5 %	-613,165	69.7 %	-2,026,746
Other external purchases and charges	FW	9,187,012	-17.3 %	11,104,354	0.4 %	11,057,064
Tax, duty and similar payments	FX	822,030	3.7 %	792,729	-4.7 %	831,847
Payroll	FY	9,204,811	-9.3 %	10,148,042	1.8 %	9,972,381
Social security costs	FZ	4,075,470	-4.6 %	4,272,149	1.4 %	4,211,697

Depreciation

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Depreciation of fixed assets	GA	953,149	8.7 %	876,913	10.2 %	795,471
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	2,716,203	118.6 %	1,242,326	-8.3 %	1,354,246
Provisions for risks and charges	GD	893,446	5.6 %	846,094	116.9 %	390,105

Other charges

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Other charges	GE	238,991	18.6 %	201,578	-66.7 %	605,397

Operating charges (III-IV)

		31/12/2013	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Total financial income (Total V)	GP	2,473,609	126.2 %	1,093,370	-32.4 %	1,617,967
Share financial income	GJ	1,100,407	790.9 %	123,522	24.5 %	99,218
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	277	-98.1 %	14,922	100.7 %	7,434
Released provisions and transferred charges	GM	1,208,297	48.9 %	811,628	-40.2 %	1,356,870
Exchange gains	GN	164,628	14.9 %	143,298	-7.2 %	154,445
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial charge (VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total financial charge (Total VI)	GU	220,589	-66.1 %	649,946	-50.6 %	1,316,534
Financial reserves and provisions	GQ	9,494	-98.0 %	467,872	-42.4 %	811,628
Interest and similar charges	GR	3,569	-93.8 %	57,417	-72.0 %	205,372
Exchange losses	GS	207,526	66.5 %	124,657	-58.4 %	299,534
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary income (Total VII)	HD	1,204,513	50424.9 %	2,384	-90.2 %	24,325
Extraordinary operating income	HA	245,614	16274.3 %	1,500	1150.0 %	120
Extraordinary income from capital transactions	HB	958,900	108372.9 %	884	-96.3 %	24,205
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary charges (Total VIII)	HH	2,468,068	4840.5 %	49,956	-58.9 %	121,495
Extraordinary operating charges	HE	1,253,842	10117.1 %	12,272	294.7 %	3,109
Extraordinary charges from capital transactions	HF	1,214,225	3122.1 %	37,684	-68.2 %	118,386
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Employee profit sharing (Total IX)	HJ	33,741	0%	0	0%	0

Tax on profits (X)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Tax on profits (Total X)	HK	829,944	1187.8 %	64,446	130.8 %	-209,537

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which equipment leases	HP	0	0%	0	0%	1,768
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	399,527	0%	0	0%	624,586
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	63,199	0%	0	0%	25,433

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	2,228,836	0%	0	0%	562,597
Gross value at the end of period	OL	38,370,171	0%	0	0%	39,242,661

Research and development Charge (Total I)

		31/12/2013	Variation	31/12/2012	Variation	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	CO1	0	0%	0	0%	0
Decreasess by transfers	CO2	0	0%	0	0%	0
Gross value at the end of period	DO	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	KD	20,643,111	0%	0	0%	20,402,658
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	379,053	0%	0	0%	62,186
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	3,793	0%	0	0%	0
Gross value at the end of period	LW	21,018,372	0%	0	0%	20,464,844

Tangible fixed assets (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	LN	13,022,728	0%	0	0%	12,221,867
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	462,254	0%	0	0%	1,028,226
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	1,424,654	0%	0	0%	562,597
Gross value at the end of period	NH	12,060,328	0%	0	0%	12,687,496

Financial assets (Total IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	LQ	6,091,613	0%	0	0%	6,088,259
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	247	0%	0	0%	2,062
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	800,390	0%	0	0%	0
Gross value at the end of period	NK	5,291,470	0%	0	0%	6,090,321

Reserve for depreciation

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	ON	0	0%	0	0%	0
Increases	OP	0	0%	0	0%	0
Decreasess	OQ	0	0%	0	0%	0
Reserve for depreciation value at the end of period	OR	0	0%	0	0%	0

Research and development charge (Total I)

		31/12/2013	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	PE	996,384	9.6 %	909,092	10.2 %	825,039
Increases	PF	132,478	16.6 %	113,616	35.2 %	84,054
Decreasess	PG	3,793	-85.6 %	26,324	0%	0
Decreasess by budget item transfer	PH	1,125,070	12.9 %	996,384	9.6 %	909,093

Total fixed assets amotisation (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	QU	10,232,727	2.7 %	9,960,272	2.9 %	9,679,510
Increases	QV	820,671	7.5 %	763,297	7.3 %	711,418
Decreases	QW	923,145	88.1 %	490,841	14.0 %	430,656
Decreasess by budget item transfer	QX	10,130,253	-1.0 %	10,232,728	2.7 %	9,960,272

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

		31/12/2013	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Net value at begin 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	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	7C	3,880,492	0%	0	0%	0
Increases	UB	3,619,142	0%	0	0%	0
Decreases	UC	3,198,482	0%	0	0%	0
Value at the end of period	UD	4,301,152	0%	0	0%	0

Includes Total allocations

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating	UE	3,609,649	0%	0	0%	0
Financial	UG	9,494	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating	UF	1,990,185	0%	0	0%	0
Financial	UH	1,208,297	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

		31/12/2013	Variation	31/12/2012	Variation	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	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	5Z	1,669,784	0%	0	0%	0
Increases	TV	902,940	0%	0	0%	0
Decreases	TW	862,588	0%	0	0%	0
Value at the end of period	TX	1,710,136	0%	0	0%	0

Total Provision for depreciation (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	7B	2,210,708	0%	0	0%	0
Increases	TY	2,716,203	0%	0	0%	0
Decreases	TZ	2,335,894	0%	0	0%	0
Value at the end of period	UA	2,591,017	0%	0	0%	0

State deadlines claims and debts at the end of period

State claims

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value	VT	8,334,465	-39.8 %	13,846,541	0%	0
1 year at most	VU	8,310,334	-39.9 %	13,822,257	0%	0
More than one year	VV	24,131	-0.6 %	24,284	0%	0

State of loans

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	24,378	-45.7 %	44,857	0%	0
Other financial assets (1 year at most)	UV	247	-98.8 %	20,573	0%	0

Receivables statement of assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Customers doubtful or disputed	VA	0	0%	6,023	0%	0
Other claims customer	UX	7,624,026	-41.7 %	13,081,899	0%	0
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	42,519	-4.2 %	44,386	0%	0
Social Security and other social organizations	UZ	7,721	29.0 %	5,985	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	300,880	-25.8 %	405,262	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	203,030	0%	0	0%	0
Group and Associates	VC	0	0%	81,879	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	9,483	80.2 %	5,262	0%	0

Prepaid

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Prepaid	VS	122,428	-28.4 %	170,988	0%	0

State Debt

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total debt (gross)	VY	8,267,549	-65.5 %	23,991,623	0%	0
1 year at most	VZ2	8,267,549	-65.5 %	23,991,623	0%	0
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	Variation	31/12/2012	Variation	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	2,500	-48.7 %	4,877	0%	0
1 year at most	VG2	2,500	-48.7 %	4,877	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%	16,275,468	0%	0
1 year at most	8A2	0	0%	16,275,468	0%	0
More than 1 year and 5 years at most	8A3	0	0%	0	0%	0
Suppliers and associated accounts (gross)	8B1	3,738,569	170.1 %	1,384,048	0%	0
1 year at most	8B2	3,738,569	170.1 %	1,384,048	0%	0
More than 1 year and 5 years at most	8B3	3,738,569	170.1 %	1,384,048	0%	0
Personnel and associated accounts (gross)	8C1	1,257,879	0%	0	0%	0
1 year at most	8C2	1,257,879	0%	0	0%	0
More than 1 year and 5 years at most	8C3	0	0%	0	0%	0
Social Security and other social organizations (gross)	8D1	1,486,662	-14.0 %	1,728,570	0%	0
1 year at most	8D2	1,486,662	-14.0 %	1,728,570	0%	0
More than 1 year and 5 years at most	8D3	0	0%	0	0%	0
Taxes on profits (gross)	8E1	829,944	0%	0	0%	0
1 year at most	8E2	829,944	0%	0	0%	0
More than 1 year and 5 years at most	8E3	0	0%	0	0%	0
VAT (Gross)	VW1	192,274	0%	0	0%	0
1 year at most	VW2	192,274	0%	0	0%	0
More than 1 year and 5 years at most	VW3	0	0%	0	0%	0
Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most	VX2	0	0%	0	0%	0
More than 1 year and 5 years at most	VX3	0	0%	0	0%	0
Other taxes and assimilated (gross)	VQ1	297,208	-23.0 %	386,087	0%	0
1 year at most	VQ2	297,208	-23.0 %	386,087	0%	0
More than 1 year and 5 years at most	VQ3	0	0%	0	0%	0
Assets and liabilities associated accounts (gross)	8J1	0	0%	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%	4,119,337	0%	0
1 year at most	VI2	0	0%	4,119,337	0%	0
More than 1 year and 5 years at most	VI3	0	0%	0	0%	0
More than 5 years	V14	0	0%	0	0%	0
Other liabilities (gross)	8K1	317,185	240.2 %	93,236	0%	0
1 year at most	8K2	317,185	240.2 %	93,236	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	145,329	0%	0	0%	0
1 year at most	8L2	145,329	0%	0	0%	0
More than 1 year and 5 years at most	8L3	0	0%	0	0%	0

References

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

Commitments

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Subcontracting	YT	1,771,368	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	939,623	0%	0	0%	0
Staff outside the company	YU	898,482	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	688,351	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	4,889,188	0%	0	0%	0
Total Other purchases and external	ZJ	9,187,012	0%	0	0%	0

Taxes and Fees

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Business tax	YW	378,392	0%	0	0%	0
Other taxes and payments assimilated	9Z	443,638	0%	0	0%	0
Total taxes and fees	YX	822,030	0%	0	0%	0

VAT

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Amount VAT collected	YY	4,618,508	0%	0	0%	0
Total VAT on goods and services	YZ	3,625,524	0%	0	0%	0

Average number of employees

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Average number of employees	YP	224	-6.7 %	240	-2.0 %	245

Groups and Shareholders

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Groups and Shareholders	ZR	1	-	-	-	-

Ratios

Structure and Liquidity

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Fixed Asset Financing	1.18	16.8 %	1.01	4.1 %	0.97	2.23	-47.1 %
Global Debt	78 days	-62.5 %	208 days	-5.0 %	219 days	124 days	-37.1 %
Working Capital Fund overall net	65 days	3150.0 %	2 days	120.0 %	-10 days	140 days	-53.6 %
Financial independence	1,296,639.76 %	140.0 %	540,227.17 %	274.4 %	144,274.46 %	389.72 %	332610.6 %
Solvability	76.10 %	51.2 %	50.33 %	17.3 %	42.92 %	52.55 %	44.8 %
Capacity debt futures	1,296,639.76 %	140.0 %	540,227.17 %	-	-	3,398.87 %	38049.1 %
Coverage of current assets by net working capital overall	39.08 %	4147.8 %	0.92 %	119.0 %	-4.83 %	54.13 %	-27.8 %
General Liquidity	1.01	74.1 %	0.58	-	-	0.95	6.3 %
Restricted Liquidity	1.26	72.6 %	0.73	-	-	1.61	-21.7 %

Management or rotation

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Need background in operating working capital	45 days	236.4 %	-33 days	19.5 %	-41 days	65 days	-30.8 %
Treasury	19 days	-40.6 %	32 days	28.0 %	25 days	36 days	-47.2 %
Inventory turnover of goods	30 days	-	-	-	-	7 days	328.6 %
Average length of credit granted to customers	63 days	-43.8 %	112 days	1.8 %	110 days	73 days	-13.7 %
Average length of credit obtained suppliers	53 days	-77.6 %	237 days	16.7 %	203 days	65 days	-18.5 %
Inventory turnover of raw materials in industrial enterprises	179 days	62.7 %	110 days	14.6 %	96 days	112 days	59.8 %
Inventory turnover of intermediate and finished products in the industrial enterprise	324 days	-	-	-	316 days	485 days	-33.2 %
Rotation tangible assets	323.83 %	-	-	-	316.41 %	597.08 %	-45.8 %

Profitability of the business

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Margin trading	-11.98 %	0%	0.00 %	0%	0.00 %	0.00 %	0%
Profitability of the business	6.60 %	39.2 %	4.74 %	-9.4 %	5.23 %	7.50 %	-12.0 %
Net profit	1.34 %	-91.5 %	15.79 %	120.8 %	7.15 %	4.83 %	-72.3 %
Growth rate of turnover (excluding VAT)	-7.12 %	-249.9 %	4.75 %	-71.5 %	16.68 %	0.18 %	-4055.6 %
Rates integration	42.71 %	4.4 %	40.91 %	-4.0 %	42.63 %	44.31 %	-3.6 %
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.00 %	0%
Work Factor	79.62 %	-5.0 %	83.82 %	1.1 %	82.89 %	77.28 %	3.0 %
Weight interests	0.56 %	-63.9 %	1.55 %	-52.7 %	3.28 %	0.27 %	107.4 %

Return on capital

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Cash flow from the overall profitability	-3.73 %	-119.5 %	19.08 %	67.5 %	11.39 %	7.21 %	-151.7 %
Rates of economic profitability	8.00 %	0%	8.00 %	-27.3 %	11.00 %	14.00 %	-42.9 %
Financial profitability	32,415,994.00 %	23.0 %	26,346,879.00 %	33.7 %	19,706,448.00 %	458,511.00 %	6969.8 %
Return on investment	2.30 %	-91.7 %	27.67 %	30.3 %	21.24 %	9.62 %	-76.1 %

Management intermediate balances

	31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Turnover	39,055,269		-7.1 %		42,051,253		4.7 %		40,144,511		1,196,785		3163.3 %
		31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Sales of goods		1,440,398		0%		0		0%		0				-
- Purchase of goods		5,020,696		0%		0		0%		0				-
+/- Stock of goods variation		1,097,362		0%		0		0%		0				-
Trading margin		-4,677,660 €		0%		0 €		0%		0 €		0 €		0%
		-11.98 % CA		0%		0.00 % CA		0%		0.00 % CA		0.00 % CA		0%

	31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Sale of goods produced	37,614,871		-10.5 %		42,051,253		4.7 %		40,144,511				-
+/- Stocked production	-701,887		-54.7 %		-453,576		-1024.8 %		49,046				-
+ Self-constructed assets	151,564		-50.1 %		303,870		11.3 %		273,133				-
Period production	37,064,548 €		-11.5 %		41,901,547 €		3.5 %		40,466,690 €		835,762 €		4334.8 %
	94.90 % CA		-4.8 %		99.64 % CA		-1.2 %		100.80 % CA		99.63 % CA		-4.7 %
		31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Trading margin		-4,677,660		0%		0		0%		0		0		0%
+ Period Production		37,064,548		-11.5 %		41,901,547		3.5 %		40,466,690		835,762		4334.8 %
- Purchase of raw materials		7,718,324		-45.7 %		14,205,599		-0.8 %		14,324,513				-
+/- Change in stocks of raw materiels		-1,198,936		-95.5 %		-613,165		69.7 %		-2,026,746				-
- Other external purchases and charges		9,187,012		-17.3 %		11,104,354		0.4 %		11,057,064				-
Added value		16,680,488 €		-3.0 %		17,204,759 €		0.5 %		17,111,859 €		521,589 €		3098.0 %
		42.71 % CA		4.4 %		40.91 % CA		-4.0 %		42.63 % CA		44.31 % CA		-3.6 %

	31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Added value	16,680,488 €		-3.0 %		17,204,759 €		0.5 %		17,111,859 €		521,589 €		3098.0 %
+ Operating grants	0		0%		807		-60.0 %		2,020				-
- Tax, duty and similar payments	822,030		3.7 %		792,729		-4.7 %		831,847				-
- Personal charges	13,280,281		-7.9 %		14,420,191		1.7 %		14,184,078				-
Gross operating surplus	2,578,177 €		29.4 %		1,992,646 €		-5.0 %		2,097,954 €		62,170 €		4047.0 %
	6.60 % CA		39.2 %		4.74 % CA		-9.4 %		5.23 % CA		7.50 % CA		-12.0 %
		31/12/2013		Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Gross operating surplus		2,578,177 €		29.4 %		1,992,646 €		-5.0 %		2,097,954 €		62,170 €		4047.0 %
+ Release of reserves and provisions		2,389,713		-67.7 %		7,408,186		115.4 %		3,439,316				-
+ Other operating income		232,410		209.5 %		75,104		13.7 %		66,072				-
- Depreciation/ Amortisation		4,562,798		53.9 %		2,965,333		16.8 %		2,539,822				-
- Other charges		238,991		18.6 %		201,578		-66.7 %		605,397				-
Operating result		398,511 €		-93.7 %		6,309,025 €		156.7 %		2,458,123 €		36,600 €		988.8 %
		1.02 % CA		-93.2 %		15.00 % CA		145.1 %		6.12 % CA		4.51 % CA		-77.4 %

			31/12/2013	Variation		31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Operating result			398,511 €	-93.7 %		6,309,025 €		156.7 %		2,458,123 €		36,600 €		988.8 %
+/- Result of joint-venture transferred from/to other partners			0	0%		0		0%		0				-
+ Financial income			2,473,609	126.2 %		1,093,370		-32.4 %		1,617,967				-
- Financial charges			220,589	-66.1 %		649,946		-50.6 %		1,316,534				-
Pre-tax result			2,651,531 €	-60.7 %		6,752,449 €		144.7 %		2,759,556 €		37,356 €		6998.0 %
			6.79 % CA	-57.7 %		16.06 % CA		133.8 %		6.87 % CA		4.35 % CA		56.1 %
	31/12/2013	Variation			31/12/2012		Variation		31/12/2011		SECTOR MEDIAN 2013
Extraordinary income	1,204,513	50424.9 %			2,384		-90.2 %		24,325		772		155925.0 %
- Extraordinary charges	2,468,068	4840.5 %			49,956		-58.9 %		121,495				-
Extraordinary result	-1,263,555 €	-2556.1 %			-47,572 €		51.0 %		-97,170 €		0 €		0%
	-3.24 % CA	-2845.5 %			-0.11 % CA		54.2 %		-0.24 % CA		0.00 % CA		0%

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	SECTOR MEDIAN 2013
Pre-tax result	2,651,531 €	-60.7 %	6,752,449 €	144.7 %	2,759,556 €	37,356 €	6998.0 %
Extraordinary result	-1,263,555 €	-2556.1 %	-47,572 €	51.0 %	-97,170 €	0 €	0%
- Employee profit sharing	33,741	0%	0	0%	0		-
- Tax on profits	829,944	1187.8 %	64,446	130.8 %	-209,537		-
Net result	524,291 €	-92.1 %	6,640,431 €	131.2 %	2,871,923 €	43,596 €	1102.6 %
	1.34 % CA	-91.5 %	15.79 % CA	120.8 %	7.15 % CA	4.83 % CA	-72.3 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.71
UK Pound	1	Rs.105.10
Euro	1	Rs.77.11

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	ASH

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.