MIRA INFORM REPORT

Report No. :	352794
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	CALDERYS FRANCE

Registered Office :	Rte De Troyes, 51120 Sezanne

Country :	France

Financials (as on) :	31.12.2014

Date of Incorporation :	March 1977

Com. Reg. No.:	702 031 030

Legal Form :	Simplified joint stock company

Line of Business :	Manufacture of refractory products.

No. of Employee :	200 to 249

RATING & COMMENTS

MIRA’s Rating :

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

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

CALDERYS FRANCE

Enquiries Trend

SIRET	702 031 030 00050
Name	CALDERYS FRANCE
Acronym	-
Trade name	-
Status	Economically active
Postal Address	CALDERYS FRANCE RTE DE TROYES 51120 SEZANNE
Share Capital	7,567,740 Euros
Telephone	03 26 81 48 08
Activity (APE)	Manufacture of refractory products (2320Z)	RCS Registration	RCS Reims B 702 031 030
Formation Date	01/1983	EUR VAT Number	FR02702031030
Deregistration Date	-	Last account Date	31/12/2014
Court Registry Number	19 8 5B50042	Incorporation Date	03/1977
Registration Court	Reims (51)	Fax	03 26 80 97 80
Nationality	France
		Legal form	Simplified joint stock company
		Currency	Euros

Key Financials

YEAR TO DATE	TURNOVER	GROSS OPERATING SURPLUS	SHAREHOLDER'S EQUITY	NET RESULT	EMPLOYEES
31/12/2014	97,187,895 €	7.57% Turnover	25,346,860 €	4,878,068 €	200 to 249 employees
31/12/2013	95,636,625 €	8.03% Turnover	26,502,984 €	6,110,546 €	200 to 249 employees
31/12/2012	105,574,321 €	8.37% Turnover	25,944,133 €	7,150,576 €	200 to 249 employees

Directors

Current Directors

Ultimate Holding Company

Name	Country	Company Number
GROUPE BRUXELLES LAMBERT		403228010
Affiliation links.
110 companies in the international Group Structure from 19 countries.

Judgment and Preferential

Judgment	No judgement
Preferential Right		No social security and tax office preferential right to date

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	2320Z	Activity	Manufacture of refractory products
Formation Date	12/1984	Reason for Formation	Purchase
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	Other
Trading Address	ROUTE DE TROYES 51120 SEZANNE	Department	Marne (51)
Location Surface	-	District	2
City	SEZANNE	Status	Economically active
Business Pages FT®	PRODUITS REFRACTAIRES (FABRICATION, GROS)	Region	Champagne-Ardenne
		Area	25
		Size of Urban Area	-

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 having all establishments with the same main activity
Branches	7 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
CALDERYS FRANCE	Head Office	2320Z	Manufacture of refractory products	SEZANNE	51120
CALDERYS FRANCE	Branch	262L	Fabrication de produits céramiques réfractaires	LYON 7EME	69007
CALDERYS FRANCE	Branch	2320Z	Manufacture of refractory products	NOGENT SUR MARNE	94130
CALDERYS FRANCE	Branch	2320Z	Manufacture of refractory products	MONTPELLIER	34000
CALDERYS FRANCE	Branch	2320Z	Manufacture of refractory products	SAINT QUENTIN FALLAVIER	38070

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 25,346,860 €
	The ratio total assets to total liabilities is 1.90
	The increase of tangible fixed assets over the last two accounting periods is 18 %
	The liabilities are 24,510,628 €
	The net current assets are 38,028,581 €
	The net turnover is 97,187,895 €
	The pre-tax profit is 6,530,252 €
	The risk provisions are 3,620,924 €
	The total assets are 53,539,158 €
	The company has 4 directors
	Industry code with low risk rating
	Department code with low risk rating
	The sales to current assets ratio is 2.56
	The creditor days are 67.54
	The stock to turnover ratio is 7.82
	The return on total assets employed is 12.20
	High risk workforce size
	The increase in the gearing percentage over the last two accounting periods is 14 %

Industry comparison

Activity (APE) Manufacture of refractory products (2320Z)

Collective procedures

No judgment information for the company

Preferential rights details and history

Summary of preferential rights

Company monitored since	24/05/2010
Status of Monitoring	No social security and tax office preferential right to date

Group Data

Ultimate parent company	GROUPE BRUXELLES LAMBERT
Direct parent	PLR REFRACTAIRES SAS U - 100 %
Group – Number of companies	159
Linkages – Number of companies	110
Number of countries	19

	NAME	SIREN	PARTS	LAST ACCOUNT PUBLISHED
1	GROUPE BRUXELLES LAMBERT - GROEP BRUSSEL LAMBERT NV	403228010	-	31/12/2000
2	SGS SA	15659	15 %	-
	BRUSSELS SECURITIES SA	403212964	61.60 %	31/12/2014
	UMICORE SA	-	15 %	-
	PERNOD RICARD	582041943	7.49 %	30/06/2014
2	BELGIAN SECURITIES BV	-	100 %	-
3	IMERYS	562008151	53.60 %	31/12/2008
4	IMERYS TABLEWARE NEW ZEALAND LTD	-	100 %	-
	IMERYS TABLEWARE DEUTSCHLAND GMBH	HRB 2958	100 %	31/12/2013
	K-T FELDSPAR CORP	-	100 %	-
	VATUTINSKY	-	85.83 %	-
4	IMERYS TALC EUROPE	599802006	100 %	31/12/2014
5	IMERYS TALC LUZENAC FRANCE	935580191	100 %	31/12/2014
	K-T CLAY DE MEXICO SA DE CV	-	100 %	-
	KENTUCKY TENNESSEE CLAY	-	100 %	-
4	IMERYS TC	449354224	100 %	31/12/2014
5	CAPTELIA	480097955	50 %	31/12/2014
	IMERYS SERVICES	320750730	100 %	31/12/2014
4	IMERYS SOUTH AFRICA (PTY) LTD	-	73.97 %	-
5	SAMREC (PTY) LTD	-	73.97 %	-
6	ECCA HOLDINGS (PTY) LTD	-	73.97 %	-
	RHINO MINERALS PTY LTD	-	73.97 %	-
	MRD-ECC CO. LTD	-	68.89 %	-
4	MIRCAL	333160620	100 %	31/12/2014
5	IMERYS MINERAUX FRANCE SA	780112835	100 %	31/12/2014
6	GRAN BIANCO CARRARA - SOCIETA' A RESPONSABILITA' LIMITATA	MS94341	100 %	31/12/2014
	BLANCS MINÉRAUX DE TUNISIE SA	-	68 %	-
	MIRCAL ITALIA S.P.A.	RE201902	100 %	31/12/2011
	IMERYS MINERALS INTERNATIONAL SALES	B52699	100 %	31/12/2013
	MIRCAL ARGENTINA SRL	-	100 %	-
	IMERYS MINERAUX FRANCE SA	851103932	100 %	-
	IMERYS TABLEWARE ASIA LTD	-	100 %	-
	IMERYS REFRACTORY MINERALS GLOMEL	414635367	100 %	31/12/2014
	IMERYS DO BRASIL COMERCIO	-	100 %	-
	IMERYS GRAPHITE & CARBON SWITZERLAND SA	10319	100 %	-
5	IMERYS CERAMICS FRANCE	490096591	99.99 %	31/12/2014
6	IMERYS CERAMICS ESPAÑA	5819	100 %	31/12/2013
	SOCIETE DES KAOLINS DE NOZAY	302590690	88.78 %	31/12/2014
	IMERYS MINERALS GMBH	HRB 4746	100 %	31/12/2013
	IMERYS REFRACTORY MINERALS CLERAC	320091119	99.50 %	31/12/2014
5	IMERYS TABLEWARE FRANCE	329679146	100 %	31/12/2014
6	SPICA - S.R.L.	VT43728	85.87 %	31/12/2014
	ARDOISIERES D ANGERS	344683446	100 %	31/12/2014
5	PLR REFRACTAIRES SAS U	434264297	100 %	31/12/2014
6	CALDERYS FRANCE	702031030	100 %	31/12/2014
7	CALDERYS TAIWAN CO LTD	-	100 %	-
	CALDERYS AUSTRALIA PTY LIMITED C	-	100 %	-
	MIRCAL BRESIL	451374474	100 %	31/12/2014
	IMERYS MINERALS JAPAN KK	-	100 %	-
	PARIMETAL	314634916	100 %	31/12/2014
4	IMERYS	-	100 %	-
5	GEORGIA MARBLE LAND CO.	-	100 %	-
	TREIBACHER SCHLEIFMITTEL NORTH AMERICA	-	100 %	-
	IMERYS MARBLE INC	-	100 %	-
	GRAYSTAR LLC	-	50 %	-
	DBK MINERALS, INC	-	100 %	-
	IMERYS RIO CAPIM CAULIM SA	-	100 %	-
	IMERYS CARBONATES LLC	-	100 %	-
	IMERYS CLAYS INC	-	100 %	-
	CE MINERALS	-	100 %	-
	E.C.C.A. CALCIUM PRODUCTS, INC	-	100 %	-
	IMERYS PIGMENTS INC.	-	100 %	-
	AMERICARB INC	-	100 %	-
	LIQUID QUIMICA MEXICANA SA DE CV	-	100 %	-
	CALDERYS BELGIUM	-	100 %	-
4	MIRCAL EUROPE	444384234	100 %	31/12/2014
5	IMERYS KILN FURNITURE HUNGARY KFT.	-	100 %	-
	IMERYS UK LIMITED	03674799	100 %	31/12/2014
	IMERYS MINERAL AB	5560990177	100 %	31/12/2014
	IMERYS GRAPHITE & CARBON BELGIUM SA	478703215	100 %	31/12/2013
5	TREIBACHER SCHLEIFMITTEL AG	-	100 %	-
6	IMERYS FUSED MINERALS LAUFENBURG GMBH	HRB 630755	100 %	31/12/2013
	IMERYS FUSED MINERALS LAUFENBURG GMBH	HRB 630755	100 %	31/12/2013
	TREIBACHER SCHLEIFMITTEL D.O.O.	-	100 %	-
	TREIBACHER SCHLEIFMITTEL BRASIL LTDA	-	100 %	-
	TREIBACHER SCHLEIFMITTEL SPA	-	100 %	-
	HARBORLITE AAGEAN ENDUSTRI MINERALLI SANAYI AS	-	99.78 %	-
	CALDERYS DEUTSCHLAND GMBH & CO. OHG	HRA 12557	100 %	31/12/2011
	KERAPLAN GMBH	-	85 %	-
	MINERALIEN SCHIFFAHRT SPEDITION UND TRANSPORT GMBH	-	50 %	-
	CALDERYS DEUTSCHLAND GMBH	HRB 15019	100 %	31/12/2014
	CALDERYS AUSTRIA GMBH	-	100 %	-
	IMERYS DIATOMITA ALICANTE	10683	100 %	31/12/2014
	IMERYS PERLITA BARCELONA	10570	100 %	31/12/2014
	IMERYS KILN FURNITURE ESPAÑA	963139	97.11 %	31/12/2013
	WORLD MINERALS ESPAÑA	370412	100 %	-
	CALDERYS MAGYARORSZAG KFT	-	100 %	-
	4 M D P L	-	100 %	-
	CALDERYS ITALIA S.R.L.	MO277392	100 %	31/12/2014
	IMERYS MINERALI S.P.A.	MS63209	100 %	31/12/2014
	IMERYS TILES MINERALS ITALIA	-	100 %	-
	IMERYS MINERALI CORSICO S.R.L.	MI1339807	100 %	31/12/2014
	CALDERYS UK LTD	01039428	100 %	31/12/2013
	ELECTRO FURNACE PRODUCTS LTD	-	100 %	-
	UCM GROUP PLC	-	100 %	-
	UNITEC CERAMICS LIMITED	02765381	100 %	31/12/2014
	CALDERYS	-	100 %	-
	CALDERYS NORDIC AB	5560129800	100 %	31/12/2014
	CALDERYS UKRAINE LTD	-	74.90 %	-
	ADVANCED MINERALS, LLC	-	100 %	-
	CELITE CORPORATION	-	100 %	-
	HARBORLITE CORPORATION	-	100 %	-
	IMERYS P&A LLC	-	100 %	-
	IMERYS PAPER CARBONATES LLC	-	100 %	-
	MUSCLE SHOALS MINERALS	-	100 %	-
	UNIVERSAL AMERICA INC	-	100 %	-
	CALDERYS SOUTH AFRICA PTY LTD	-	73.97 %	-
	IMERYS ARGENTINA SRL	-	100 %	-
	IMERYS MINERALS AUSTRALIA PTY LTD	-	100 %	-
	IMERYS CANADA LP	-	100 %	-
	TIMCAL CANADA INC	-	100 %	-
	CELITE CHILE LTDA	-	100 %	-
	HARBORLITE CHILE LTDA	-	100 %	-
	CELITE PACIFIC LTD	-	100 %	-
	IMERYS MINING DEVELOPMENT QINGYANG CO LTD	-	100 %	-
	IMERYS PIGMENTS WUHU CO LTD	-	100 %	-
	LINJIANG CELITE DIATOMITE CO LTD	-	100 %	-
	ACE REFRACTORIES LTD	-	99.80 %	-
	CALDERYS JAPAN CO LTD	-	100 %	-
	IMERYS MINERALS MALAYSIA SDN BHD	-	100 %	-
	CELITE MEXICANA SA DE CV	-	100 %	-
	IMERYS MINERALS TAIWAN LTD	-	100 %	-
	ASTRON CHINA	-	100 %	-
	BAOTOU JING YUANG GRAPHITE CO LTD	-	85 %	-
	JUMBO MINING LTD,	-	100 %	-
	B&B REFRACTORIES	-	Majority	-
	PT ECC	-	Min blocking	-
	YBB	-	Min blocking	-
	MIKRO MINERALS	-	100 %	-
	UCM MAGNESIA	-	100 %	-
	SUZORITE MINING	-	100 %	-
	ACE CALDERYS	-	99.80 %	-
	KINGS MOUNTAIN MINERALS INC	-	100 %	-
	UCM MAGNESIA	-	100 %	-
	UCM ZIRCONIA, INC	-	100 %	-
	PARA PIGMENTOS	-	100 %	-
	YINGKOU IMERYS ASTRON CHEMICAL	-	100 %	-
	ZIBO IMERYS ASTRON ADVANCED MATERIALS	-	100 %	-
	MIRCAL ASIA	444384101	100 %	31/12/2014
	MIRCAL CHILI	434143574	100 %	31/12/2014
	IMERYS (SHANGHAI) INVESTMENT MANAGEMENT COMPANY LIMITED	-	100 %	-
	CALDERYS IBERICA REFRACTARIOS	866811	49.90 %	31/12/2014
	PYRAMAX CERAMICS LLC	-	Majority	-
	S&B INDUSTRIAL MINERALS SA	-	100 %	-
	S&B MINERALS PARTICIPATIONS 2 S.A.	B178971	100 %	-
	SAGERPAR SA	403205640	100 %	31/12/2014
	SUEZ ENVIRONNEMENT COMPANY	433466570	4.48 %	31/12/2014
	GBL ENERGY	-	100 %	-
2	GBL FINANCE S.A.	B18507	100 %	-
3	BRUSSELS SECURITIES SA	403212964	38.40 %	31/12/2014
	ARCELORMITTAL RODANGE ET SCHIFFLANGE	B10643	2.84 %	31/12/2013
2	ERGON CAPITAL PARTNERS III SA	453689388	100 %	31/12/2014
3	E.V.E. S.A.	-	100 %	-
4	EVONG S.A	-	75.10 %	-
5	ELITECH GROUP SAS	527913479	60.20 %	31/12/2014
6	ELITECH DISTRIBUTION	538673716	100 %	31/12/2014
	VITAL DIAGNOSTICS HOLDING CORP	-	100 %	-
3	PUBLIHOLD SA	834984710	92 %	31/12/2014
4	EDITIS BELGIUM SA	888066870	100 %	31/12/2014
3	ERGON INTERNATIONAL S.A	-	100 %	-
4	ERGON INVESTMENTS EUROPE S.A	-	100 %	-
5	BENITO ARTIS S.L	-	84.60 %	-
	GROUPE DE BOECK	-	100 %	-
	GBL VERWALTUNG SA	-	100 %	-

Linkages

COMPANY NAME	SIREN	LAST ACCOUNT PUBLISHED	TURNOVER
POWER CORPORATION	-	31/12/2014	15,063,884,157 €
MIRCAL ITALIA S.P.A.	MO311611	31/12/2014	288 €
TOTAL PETROCHEMICALS & REFINING SA/NV SA	403079441	31/12/2014	23,749,369,702 €
MIRCAL	333160620	31/12/2014	204,557 €
GROUPE BRUXELLES LAMBERT - GROEP BRUSSEL LAMBERT NV	407040209	31/12/2013	2,001,080 €
COFINERGY NV	430169660	31/12/2014	251,308 €
IMERYS UK FINANCE LIMITED	07701960	31/12/2013	9,415,565 £
PARGESA NETHERLANDS B.V.	24154463	31/12/2014	-
IMERYS MINERALS LIMITED	00269255	31/12/2013	160,681,000 £
LARCIER HOLDING SA	443693044	31/12/2014	1,018,030 €
IMERYS MINERALS HOLDING LIMITED	07640343	31/12/2013	0 £
IMERYS TALC BELGIUM NV	448159202	31/12/2014	27,268,571 €
IMERYS MINERALS NETHERLANDS B.V.	24108984	31/12/2011	-
DE BOECK SERVICES SPRL	425445067	31/12/2014	24,005,479 €
IMERYS CERAMICS ITALIA S.R.L.	MO341963	31/12/2014	12,455,293 €
DB IMMO SA	846226614	31/12/2014	4,792,793 €
IMERYS TALC ITALY S.P.A.	TO746333	31/12/2014	20,504,463 €
UITGEVERIJ DE BOECK NV	404790502	31/12/2014	9,077,011 €
RECLAYM LIMITED	03969280	31/12/2014	838,000 £
LTI ONE SA	525893220	30/09/2014	-
LTI TWO SA	550642670	30/09/2014	-
PLIBRICO GMBH	HRB 14184	31/12/2011	-
DE BOECK SUPERIEUR FRANCE	352563191	31/12/2013	8,335,672 €
IMERYS WINDFARM PROJECT LIMITED	06646529	31/12/2013	0 £
DE BOECK ET LARCIER SA	401429946	31/12/2007	19,837,000 €
UCM GROUP LIMITED	02720770	31/12/2014	0 £
DE BOECK EDUCATION SA	846296591	31/12/2014	6,500,572 €
DE BOECK MANAGEMENT COMPANY SA	835559087	31/12/2014	-
CALDERYS THE NETHERLANDS B.V.	20037243	31/12/2013	29,435,547 €
IMERYS TALC UK HOLDING LIMITED	01599006	31/12/2014	0 £
PLR REFRACTORIES GMBH	HRB 15018	31/12/2011	-
GROUPE LARCIER EN NÉERLANDAIS GROEP LARCIER SA	436181878	31/12/2014	17,242,145 €
CALDERYS FINLAND OY	01149667	31/12/2014	-
IMERYS MINERALS GMBH	HRB 21152	31/12/2008	-
GOONAMARRIS LIMITED	00258625	31/12/2013	20,940,000 £
I - METAL	324579085	30/06/2008	4,146,989 €
IMERYS MINERALI GAMALERO S.R.L.	AL232364	31/12/2014	4,170,507 €
ITACA S.R.L.	MS126901	31/12/2014	0 €
IMERYS FUSED MINERALS ZSCHORNEWITZ GMBH	HRB 16567	31/12/2013	53,762,842 €
DBIT	B46585	31/12/2013	-
KERAPLAN FEUERFESTE SPEZIALMASSEN GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG	HRB 15043	31/12/2014	-
IMERYS GRAPHITE & CARBON GERMANY GMBH	HRB 49660	31/12/2013	-
GBL VERWALTUNGSGESELLSCHAFT MBH	HRB 4129	31/12/2012	-
LARCIER DISTRIBUTION SERVICES SPRL	533794166	31/12/2014	24,795,758 €
ENGLISH CHINA CLAYS	00154236	31/12/2013	0 £
PLIBRICO LIMITED	00255645	31/12/2013	-
ECC OVERSEAS INVESTMENTS	00270707	31/12/2014	-
LUZENAC MICRO MILLING LIMITED	00929894	31/12/2013	-
EDWIN H. BRADLEY HOLDINGS LIMITED	01252510	31/12/2013	-
IMERYS FUSED MINERALS HULL LIMITED	02765383	31/12/2014	9,972,000 £
CHOICEWISE LIMITED	02904463	31/12/2014	-
GOONVEAN LIMITED	03294727	30/09/2014	-
CLT	120603	-	-
PARGESA HOLDING SA	12536	-	-
PARJOINTCO N.V.	24183930	31/12/2014	-
GREAT-WEST LIFECO	-	-	-
URDAC SA	627623157	-	-
MONREFCO BETEILIGUNGSGESELLSCHAFT MBH	HRB 14368	31/12/2014	-
PARGESA LUXEMBOURG S.A.	B25901	-	-
GBL VERWALTUNG S.A.	B93453	-	-
WORLD MINERALS, INC	-	-	208,000,000 $
CELITE CORP	-	-	799,000 $
IMERYS PIGMENTS & ADDITIVES	-	-	400,000,000 $
TREIBACHER SCHLEIFMITTEL NORTH AMERICA, INC	-	-	5,200,000 $
IMERYS PIGMENTS -PAPER LAB	-	-	0 $
GAMAR, INC	-	-	0 $
PYRAMAX CERAMICS LLC	-	-	292,000 $
IMERYS FILTRATION MINERALS	-	-	0 $
IMERYS PIGMENTS, INC	-	-	27,000 $
IMERYS CARBONATES LLC	-	-	0 $
IMERYS TALC AMERICA, INC	-	-	0 $
IMERYS KAOLIN INC	-	-	0 $
IMERYS MINERALS CALIFORNIA, INC	-	-	0 $

Director(s)

Name	M. MAXWELL JOHN
Manager position	President			Date of birth		14/08/1966
Place of birth	SAINT-ANDREWS(ROYAUME-UNI)
Type	Individual			Name at birth

Name		M. FUCHET PIERRE
Manager position		Managing director	Date of birth		21/06/1966
Place of birth		GRENOBLE (38)
Type		Individual	Name at birth

Statutory Auditor

Name	DELOITTE ET ASSOCIES
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Name	BEAS
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M. SCHENCK CHRISTIAN	05/02/1950 - 42 ST-ETIENNE
Managing director	M. TARENA FRANCK	31/05/1972 - VERSAILLES (78)

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
	26/08/2015	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 8770 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2014.
	15/05/2015	Bodacc B	Modification et mutation diverse
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 1672 - 702 031 030 RCS Reims. CALDERYS FRANCE. Forme : Société par actions simplifiée. Administration : Président : MAXWELL John Directeur général : FUCHET Pierre Commissaire aux comptes titulaire : DELOITTE ET ASSOCIES (SACA) Commissaire aux comptes titulaire : BEAS (SAS). Activité : . Commentaires : Modification survenue sur l'administration.
	08/05/2015	JAL	Appointment of the social representative
Marne agricole (La) Date de décision : 01/04/2015 Société faisant l'objet d'une nomination : 702031030 - CALDERYS FRANCE, RTE DE TROYES, 51120 SEZANNE Nominé : Monsieur Pierre FUCHET, 10000 TROYES En la fonction de : Directeur général
	08/05/2015	JAL	Resignation / Revocation of the social representative
Marne agricole (La) Date de décision : 01/04/2015 La société 702031030 - CALDERYS FRANCE, RTE DE TROYES, 51120 SEZANNE Fait l'objet du départ de Monsieur Franck TARENA, 135 Rue Blomet, 75015, PARIS 15
	01/08/2014	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 7560 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
	29/07/2014	Bodacc B	Modification et mutation diverse
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 928 - 702 031 030 RCS Reims. CALDERYS FRANCE. Forme : Société par actions simplifiée. Administration : Président : MAXWELL John Directeur général : TARENA Franck Commissaire aux comptes titulaire : DELOITTE ET ASSOCIES (SACA) Commissaire aux comptes titulaire : BEAS (SAS). Activité : . Commentaires : Modification survenue sur l'administration.
	30/08/2013	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 5134 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
	01/08/2013	Bodacc B	Modification et mutation diverse
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 601 - 702 031 030 RCS Reims. CALDERYS FRANCE. Forme : Société par actions simplifiée. Administration : Président : MAXWELL John Directeur général : TARENA Franck Commissaire aux comptes titulaire : ERNEST & YOUNG Commissaire aux comptes suppléant : AUDITEX. Activité : . Commentaires : Modification survenue sur l'administration.
	22/07/2013	JAL	Resignation / Revocation of the social representative
Petites Affiches Matot Braine (Les) Date de décision : 28/06/2013 La société 702031030 - CALDERYS FRANCE, RTE DE TROYES, 51120 SEZANNE Fait l'objet du départ de Monsieur Christian SCHENCK
	22/07/2013	JAL	Appointment of the social representative
Petites Affiches Matot Braine (Les) Date de décision : 28/06/2013 Société faisant l'objet d'une nomination : 702031030 - CALDERYS FRANCE, RTE DE TROYES, 51120 SEZANNE Nominé : Monsieur John MAXWELL, 53173 BONM En la fonction de : Président Nominé : Monsieur Franck TARENA, 75015 PARIS 15 En la fonction de : Directeur général
	28/08/2012	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 6839 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
	10/09/2010	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 9162 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
	07/02/2010	Bodacc B	Modification et mutation diverse
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 1344 - 702 031 030 RCS Reims. CALDERYS FRANCE. Forme : Société par actions simplifiée. Capital : 7567740 EUR. Commentaires : Modification survenue sur le capital.
	12/11/2009	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE DE REIMS 4907 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
	07/09/2008	Bodacc C	Comptes annuels et rapports
51 - MARNE GREFFE DU TRIBUNAL DE COMMERCE D'EPERNAY 3350 - 702031030 RCS. CALDERYS FRANCE. Forme : Société par actions simplifiée. Adresse : route de Troyes 51120 Sézanne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
	19/09/2007	Bodacc B	Modifications et mutations diverses
790 - RCS Epernay B 702 031 030. RC 85-B 42. CALDERYS FRANCE. Forme : S.A.S. Capital : 5 567 730 euros. Adresse du siège social : route de Troyes,, 51120 Administration : commissaire aux comptes titulaire : ERNST & YOUNG AUDIT. Commissaire aux comptes suppléant : AUDITEX. Ancienne administration : ancien commissaire aux comptes suppléant : HONTARREDE (Philippe). Etablissement principal - Activité : industrie et commerce de tous produits réfractaires, tant en France qu'à l'étranger. Adresse : route de Troyes, 51120 Date d'effet : 29 juin 2007.
	14/02/2007	Bodacc B	Modifications et mutations diverses
0919 - RCS B 702 031 030. A dater du : 13 juin 1985. RC 85-B 42. CALDERYS FRANCE. Forme : S.A.S. Capital : 5 567 730 euros. Adresse du siège social : rue de Troyes, 51120 Sézanne. Administration : commissaire aux comptes titulaire : ERNST & YOUNG AUDIT. Commissaire aux comptes suppléant : HONTARREDE (Philippe). Etablissement principal - Activité : industrie et commerce de tous produits réfractaires, tant en France qu'à l'étranger. Adresse : rue de Troyes, 51120 Sézanne. Commentaires : transfert du siège social et de l'établissement principal. Ancienne adresse : 19 place de la Résistance, 92130 Issy-les-Moulineaux. L'ancien établissement secondaire sis rue de Troyes, 51120 Sézanne devient siège social et établissement principal. L'ancien siège social et établissement principal sis à Issy-les-Moulineaux devient secondaire, à compter du 1er janvier 2007. Reconstitution des capitaux propres. Date d'effet : 15 décembre 2006.
	21/11/2006	Bodacc C	Avis de dépôt des comptes
7389 - RCS Nanterre B 702 031 030. RC 83-B 1226. CALDERYS FRANCE. Forme: S.A.S.. Adresse du siège social: 19, place de la Résistance,92130 Issy-les-Moulineaux. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
	31/08/2006	Bodacc B	Modifications et mutations diverses
2534 - RCS Nanterre B 702 031 030. RC 83-B 1226. CALDERYS FRANCE. Forme : S.A.S. Capital : 5 567 730 euros. Commentaires : modification survenue sur le capital (augmentation).
	20/12/2005	Bodacc C	Avis de dépôt des comptes
4399 - RCS Nanterre B 702 031 030. RC 83-B 1226. CALDERYS FRANCE. Forme: S.A.S. . Adresse du siège social: 19, place de la Résistance,92130 Issy-les-Moulineaux. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
	18/12/2005	Bodacc B	Modifications et mutations diverses
2528 - RCS Nanterre B 702 031 030. RC 83-B 1226. CALDERYS FRANCE. Forme : S.A.S. Capital : 8 463 750 euros. Activité : industrie et commerce de tous produits réfractaires, tant en France qu'à l'étranger. Adresse du siège social : 19 place de la Résistance,, 92130 Commentaires : fusion-absorption de la STE PLIBRICO S.A.S., RCS Evry 446 320 244. Date d'effet : 31 octobre 2005.
	22/07/2005	Bodacc B	Modifications et mutations diverses
2715 - RCS Nanterre B 702 031 030. RC 83-B 1226. CALDERYS FRANCE. Forme : S.A.S. Commentaires : modification survenue sur la dénomination.
	09/02/2005	Bodacc B	Modifications et mutations diverses
1691 - RCS Nanterre B 702 031 030. RC 83-B 1226. PLR S.A.S. Forme : S.A.S. Commentaires : modification survenue sur la dénomination et l'administration. Administration : président partant : LEGRAIN (Olivier). Nomination du président : SCHENCK (Christian).
	08/01/2002	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 702031030 RC 83-B 1226 LAFARGE REFRACTORIES. Forme : S.A.S. Capital : 8 463 750 euros. Commentaires : modification survenue sur le capital ( diminution) et l'administration. Administration : commissaire aux comptes titulaire partant : DELOITTE TOUCHE TOHMATSU AUDIT. Nomination du commissaire aux comptes titulaire : ERNST & YOUNG AUDIT. Commissaire aux comptes suppléant partant : STE TOUCHE ROSS BAILEY ET SMART S.A. Nomination du commissaire aux comptes suppléant : HONTARREDE (Philippe).
	01/04/2001	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 702031030 RC 83-B 1226 LAFARGE REFRACTORIES. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : GERMAIN (Richard). Nomination du président : LEGRAIN ( Olivier).
	13/09/2000	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 702031030 RC 83-B 1226 LAFARGE REFRACTORIES. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : directeur général partant : DROUMENQ ( Jean-Paul, André, Marie).
	15/04/1999	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 702 031 030 RC RC 83-B 1226 LAFARGE REFRACTORIES. Forme : Société par actions simplifiée. Commentaires : modification survenue sur la dénomination.
	18/09/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 702 031 030 RC RC 83-B 1226 LAFARGE REFRACTAIRES MONOLITHIQUES. Forme : Société par actions simplifiée. Adresse du siège social : 19, place de la Résistance 92440 Issy-les-Moulineaux Etablissement principal: Adresse : 19, place de la Résistance 92440 Issy-les-Moulineaux. Commentaires : modification survenue sur l'adresse du siège social et de l' établissement principal.
	23/08/1998	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 702 031 030 RC 83-B 1226 LAFARGE REFRACTAIRES MONOLITHIQUES. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : RUSSEIL (Jacques). Nomination du président : GERMAIN (Richard). Nomination du directeur général : DROUMENQ (Jean-Paul, André, Marie). Directeur général adjoint partant : DE LAFARGE (Pierre). Modification du commissaire aux comptes titulaire : DELOITTE TOUCHE TOHMATSU AUDIT.
	14/07/1995	Bodacc B	Modifications et mutations diverses
RCS *. RCS Nanterre B 702 031 030 RC RC 83-B 1226 LAFARGE REFRACTAIRES MONOLITHIQUES. Forme : Société par actions simplifiée. Administration : président : RUSSEIL (Jacques) Directeur général adjoint : DE LAFARGE (Pierre) SOMMER (Michel). Commissaire aux comptes titulaire : CABINET DE BOIS DIETERLE ET ASSOCIES. Commissaire aux comptes suppléant : SOCIETE TOUCHE ROSS BAILEY ET SMART S.A. Commentaires : modification survenue sur la forme juridique et l'administration.
	22/01/1995	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 702 031 030 RC 83-B 1226 LAFARGE REFRACTAIRES MONOLITHIQUES. Forme : S.A. Capital : 56 425 000 F. Commentaires : modification survenue sur le capital.

Company events history

Date	Description
26/08/2015	Bodacc C : Deposit accounts notice
15/08/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
15/05/2015	Bodacc B: Various editing or changing
08/05/2015	Legal Gazette: Resignation / Revocation of the social representative
30/04/2015	Private document
01/04/2015	Legal Gazette: Appointment of the social representative
31/12/2014	New accounts available
16/08/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/08/2014	Bodacc C : Deposit accounts notice
29/07/2014	Bodacc B: Various editing or changing
07/07/2014	New auditor
07/07/2014	Minutes of general meeting of shareholders
31/12/2013	New accounts available
04/10/2013	New subsidiarie(s) detected
30/08/2013	Bodacc C : Deposit accounts notice
28/08/2013	Update Limit
28/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/08/2013	Bodacc B: Various editing or changing
22/07/2013	Legal Gazette: Resignation / Revocation of the social representative
17/07/2013	New chairman (CEO, CoB)
17/07/2013	Minutes of general meeting of shareholders
28/06/2013	Legal Gazette: Appointment of the social representative
31/12/2012	New accounts available
13/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/08/2012	Bodacc C : Deposit accounts notice
01/08/2012	Minutes of general meeting of shareholders
01/08/2012	Updated articles of association
31/12/2011	New accounts available
22/09/2011	Bodacc C : Deposit accounts notice
13/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/04/2011	New ultimate parent
31/12/2010	New accounts available
10/09/2010	Bodacc C : Deposit accounts notice
24/05/2010	Collection of preferential rights activated for this company
07/02/2010	Bodacc B: Various editing or changing
31/12/2009	New accounts available
17/12/2009	Capital increase
17/12/2009	Updated articles of association
17/12/2009	Minutes of general meeting of shareholders
01/12/2009	Update of Company Workforce
01/12/2009	Other modification of Establishment
12/11/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
15/09/2008	Payment incident closed
07/09/2008	Bodacc C : Deposit accounts notice
12/08/2008	Payment incident detected
16/07/2008	Private document
16/07/2008	Minutes of general meeting of shareholders
16/07/2008	Amendment
16/07/2008	Updated articles of association
31/12/2007	New accounts available
31/07/2007	Private document
31/07/2007	New auditor
31/07/2007	Minutes of general meeting of shareholders
31/07/2007	Minutes of general meeting of shareholders
31/07/2007	Appointment/resignation of company officers
31/07/2007	Amendment
24/01/2007	Updated articles of association
24/01/2007	Updated articles of association
24/01/2007	Registration after transfer
24/01/2007	Registered office transferred inside jurisdiction of the Commercial Court
24/01/2007	Reconstitution of net assets
24/01/2007	Private document
24/01/2007	Minutes of general meeting of shareholders
24/01/2007	Amendment
24/01/2007	Amendment
09/08/2006	Declaration of conformity
09/08/2006	Updated articles of association
09/08/2006	Private document
09/08/2006	Planned merger
09/08/2006	Minutes of general meeting of shareholders
09/08/2006	Amendment
09/08/2006	Capital increase
09/08/2006	Capital increase
09/08/2006	Capital reduction
09/08/2006	Updated articles of association
09/08/2006	Declaration of conformity
09/08/2006	Fund deposit certificate
09/08/2006	Merger
09/08/2006	Merger
29/05/2006	Private document
29/05/2006	Planned merger
10/04/2006	Application and court order
10/04/2006	Application and court order
10/04/2006	Amendment
31/12/2005	New accounts available
02/12/2005	Declaration of conformity
02/12/2005	Updated articles of association
02/12/2005	Private document
02/12/2005	Minutes of general meeting of shareholders
02/12/2005	Amendment
02/12/2005	Merger
28/09/2005	Private document
28/09/2005	Planned merger
06/07/2005	Amendment
06/07/2005	Application and court order
05/07/2005	Amendment
05/07/2005	Minutes of general meeting of shareholders
05/07/2005	New company name
05/07/2005	Private document
05/07/2005	Updated articles of association
20/01/2005	Private document
20/01/2005	Updated articles of association
20/01/2005	Appointment/resignation of company officers
20/01/2005	Amendment
20/01/2005	Minutes of general meeting of shareholders
20/01/2005	New chairman (CEO, CoB)
20/01/2005	New company name
31/12/2004	New accounts available
06/08/2004	Minutes of general meeting of shareholders
06/08/2004	New closing date
06/08/2004	Private document
06/08/2004	Updated articles of association
06/08/2004	Amendment
31/01/2004	New accounts available
19/11/2003	Minutes of general meeting of shareholders
19/11/2003	Private document
19/11/2003	Updated articles of association
19/11/2003	Amendment
10/07/2003	Amendment
10/07/2003	Continuation of business despite loss of equity
10/07/2003	Minutes of general meeting of shareholders
10/07/2003	Private document
31/01/2003	New accounts available
26/12/2001	Updated articles of association
26/12/2001	Private document
26/12/2001	New auditor
26/12/2001	Conversion of equity to euro
26/12/2001	Capital reduction
26/12/2001	Appointment/resignation of company officers
26/12/2001	Amendment
26/12/2001	Minutes of general meeting of shareholders
13/06/2001	Extension of term
13/06/2001	Application and court order
15/05/2001	Appointment/resignation of company officers
15/05/2001	Amendment
15/05/2001	Application and court order
16/03/2001	Appointment/resignation of company officers
16/03/2001	Changes to the Board of Directors
16/03/2001	Minutes of general meeting of shareholders
16/03/2001	New chairman (CEO, CoB)
16/03/2001	Private document
16/03/2001	Updated articles of association
16/03/2001	Amendment
15/01/2001	Amendment
15/01/2001	Minutes of general meeting of shareholders
15/01/2001	New closing date
15/01/2001	Private document
15/01/2001	Updated articles of association
29/08/2000	Appointment/resignation of company officers
29/08/2000	Changes to the Board of Directors
29/08/2000	Minutes of general meeting of shareholders
29/08/2000	Private document
29/08/2000	Updated articles of association
15/07/1999	Company formation
15/07/1999	Declaration of conformity
15/07/1999	Private document
15/07/1999	Merger
15/07/1999	Minutes of general meeting of shareholders
11/06/1999	Audit or Management Report
11/06/1999	Private document
12/05/1999	Amendment
12/05/1999	Private document
30/03/1999	Amendment
30/03/1999	Minutes of general meeting of shareholders
30/03/1999	Private document
30/03/1999	Updated articles of association
30/03/1999	New company name
22/03/1999	Application and court order
22/03/1999	Amendment
22/03/1999	Appointment/resignation of company officers
01/09/1998	Updated articles of association
01/09/1998	Registered office transferred inside jurisdiction of the Commercial Court
01/09/1998	Private document
01/09/1998	Amendment
07/08/1998	Appointment/resignation of company officers
07/08/1998	Updated articles of association
07/08/1998	Private document
07/08/1998	New chairman (CEO, CoB)
07/08/1998	Minutes of general meeting of shareholders
07/08/1998	Amendment
27/06/1995	Amendment
27/06/1995	Updated articles of association
27/06/1995	Minutes of general meeting of shareholders
27/06/1995	Appointment/resignation of company officers
27/06/1995	New legal form – no new category
29/12/1994	Amendment
29/12/1994	Capital increase
29/12/1994	Fund deposit certificate
29/12/1994	Minutes of general meeting of shareholders
29/12/1994	Updated articles of association
24/03/1994	Amendment
24/03/1994	Registered office transferred inside jurisdiction of the Commercial Court
24/03/1994	Updated articles of association
24/03/1994	Minutes of Board meeting
18/12/1992	Declaration of conformity
18/12/1992	Fund deposit certificate
18/12/1992	Amendment
18/12/1992	Capital increase
18/12/1992	Updated articles of association
18/12/1992	Minutes of general meeting of shareholders
05/05/1992	Changes to the Board of Directors
05/05/1992	Appointment/resignation of company officers
05/05/1992	Amendment
05/05/1992	Minutes of Board meeting

Synthesized Accounts

Annual Accounts

	31/12/2014	31/12/2013	31/12/2012
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	14/08/2015	26/07/2014	27/08/2013
Activity Code	2320Z	2320Z	2320Z
Employees	0	0	0

Active account

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	15,495,654	3.8 %	14,922,735	-2.9 %	15,370,392	557,955	2677.2 %
Intangible assets	532,936	-12.8 %	611,319	-50.1 %	1,225,503	13,613	3814.9 %
Tangible assets	4,338,688	17.7 %	3,686,902	-6.4 %	3,937,757	334,708	1196.3 %
Financial assets	10,624,031	0.0 %	10,624,514	-0.3 %	10,654,722	4,323	245656.0 %
Net current assets	38,028,581	-2.5 %	39,005,013	5.4 %	37,019,359	1,776,148	2041.1 %
Stocks	7,601,822	-4.0 %	7,915,365	-6.8 %	8,492,598	365,941	1977.3 %
Advanced payments	72,050	-56.4 %	165,316	0%	0	0	0%
Receivables	29,638,687	-0.3 %	29,715,775	7.4 %	27,678,498	475,490	6133.3 %
Securities and cash	716,023	-40.8 %	1,208,557	42.5 %	848,263	101,126	608.1 %
Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	14,923	-46.7 %	27,983	-2.6 %	28,720	0	0%
Total Assets	53,539,158	-0.8 %	53,955,731	2.9 %	52,418,473	2,053,536	2507.2 %

Passive Account

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Shareholders' equity	25,346,860	-4.4 %	26,502,984	2.2 %	25,944,133	468,680	5308.1 %
Share capital	7,587,740	0.3 %	7,567,740	0%	7,567,740	274,100	2668.2 %
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	3,620,924	9.2 %	3,316,904	11.4 %	2,978,670	2,069	174908.4 %
Liabilities	24,510,628	1.6 %	24,115,490	2.8 %	23,465,729	946,601	2489.3 %
Financial liabilities	0	0%	0	0%	0	167,105	0%
Advanced payments received	606,747	-36.5 %	955,045	171.3 %	351,967	0	0%
Trade account payables	17,984,476	2.4 %	17,557,042	0.9 %	17,403,224	231,604	7665.2 %
Tax and social liabilities	5,668,165	2.2 %	5,543,601	35.4 %	4,095,102	178,735	3071.3 %
Other debts and fixed assets liabilities	311,986	289.2 %	80,156	-95.1 %	1,645,380	38,785	704.4 %
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	53,539,158	-0.8 %	53,955,732	2.9 %	52,418,473	2,053,536	2507.2 %

Results

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Sales of Goods	99,147,216	1.7 %	97,492,859	-8.7 %	106,785,031	3,009,743	3194.2 %
Net turnover	97,187,895	1.6 %	95,636,625	-9.4 %	105,574,321	2,934,114	3212.3 %
of which net export turnover	64,941,033	6.0 %	61,292,366	-17.7 %	74,502,941	196,877	32885.7 %
Operating charges	92,710,379	2.1 %	90,820,083	-8.8 %	99,597,586	2,992,462	2998.1 %
Operating profit/loss	6,436,837	-3.5 %	6,672,776	-7.2 %	7,187,445	663	970765.3 %
Financial income	994,733	-54.1 %	2,165,708	10.9 %	1,952,193	3,137	31614.7 %
Financial charges	122,662	-49.0 %	240,486	-5.1 %	253,435	7,444	1547.9 %
Financial profit/loss	872,071	-54.7 %	1,925,222	13.3 %	1,698,758	-213	409523.0 %
Pretax net operating income	7,308,908	-15.0 %	8,597,998	-3.2 %	8,886,203	1,181	619036.6 %
Extraordinary income	1,780	-38.1 %	2,875	-99.9 %	2,357,998	13,221	-86.5 %
Extraordinary charges	269,978	141.0 %	112,026	-95.2 %	2,357,827	7,905	3315.5 %
Extraordinary profit/loss	-268,198	-145.7 %	-109,151	-63931.0 %	171	271	-99066.1 %
Net result	4,878,068	-20.2 %	6,110,546	-14.5 %	7,150,576	26,858	18062.8 %

Accounts – Active

Normal Account

			31/12/2014		31/12/2013		31/12/2012
Months			12		12		12

Grand Total - Active Accounts (I to VI)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Grand Total (I to VI)	Net	53,539,158	-0.8 %	53,955,731	2.9 %	52,418,473
Gross	CO	81,185,025	1.4 %	80,080,257	2.6 %	78,054,042
Amortisation	1A	27,645,867	5.8 %	26,124,526	1.9 %	25,635,569

Non declared distributed capital (I)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total Active fixed asset (II)	Net	15,495,654	3.8 %	14,922,735	-2.9 %	15,370,392
Gross	BJ	41,969,994	4.9 %	40,026,705	-0.1 %	40,068,031
Amortisation	BK	26,474,339	5.5 %	25,103,970	1.6 %	24,697,639

Intangible fixed assets

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Start-up cost	Net	0	0%	0	0%	0
Gross	AB	0	0%	0	0%	0
Amortisation	AC	0	0%	0	0%	0
R&D expenses	Net	0	0%	0	0%	0
Gross	CX	0	0%	0	0%	0
Amortisation	CQ	0	0%	0	0%	0
Distributorships, patents	Net	529,249	-11.5 %	598,094	-10.7 %	669,861
Gross	AF	1,640,638	1.9 %	1,610,594	2.4 %	1,573,077
Amortisation	AG	1,111,389	9.8 %	1,012,500	12.1 %	903,216
Goodwill	Net	0	0%	0	0%	447,590
Gross	AH	447,590	0%	447,590	0%	447,590
Amortisation	AI	447,590	0%	447,590	0%	447,590
Other intangible fixed assets	Net	3,687	-72.1 %	13,225	-87.8 %	108,052
Gross	AJ	2,804,321	-6.9 %	3,013,754	0.2 %	3,008,554
Amortisation	AK	2,800,634	-6.7 %	3,000,529	3.4 %	2,900,502
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	532,936	-12.8 %	611,319	-50.1 %	1,225,503

Tangilble fixed assets

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Lands	Net	274,600	-0.1 %	275,007	-2.4 %	281,678
Gross	AN	652,722	1.0 %	646,317	-12.1 %	735,450
Amortisation	AO	378,122	1.8 %	371,310	-18.2 %	453,772
Buildings	Net	784,547	-14.5 %	918,049	-14.8 %	1,076,908
Gross	AP	4,935,515	0.3 %	4,921,945	0.3 %	4,908,449
Amortisation	AQ	4,150,968	3.7 %	4,003,896	4.5 %	3,831,541
Plant	Net	2,689,761	29.8 %	2,072,409	-4.9 %	2,179,708
Gross	AR	19,107,347	10.9 %	17,221,858	-0.2 %	17,251,375
Amortisation	AS	16,417,586	8.4 %	15,149,449	0.5 %	15,071,667
Other tangible fixed assets	Net	302,775	12.1 %	270,208	30.3 %	207,423
Gross	AT	1,470,825	5.9 %	1,388,904	7.1 %	1,296,774
Amortisation	AU	1,168,050	4.4 %	1,118,696	2.7 %	1,089,351
Fixed assets in construction	Net	235,205	139.5 %	98,213	-46.4 %	183,340
Gross	AV	235,205	139.5 %	98,213	-46.4 %	183,340
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	51,800	-2.3 %	53,016	509.4 %	8,700
Gross	AX	51,800	-2.3 %	53,016	509.4 %	8,700
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	4,338,688	17.7 %	3,686,902	-6.4 %	3,937,757

Financial assets

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	10,485,607	0.0 %	10,485,508	0%	10,485,508
Gross	CU	10,485,607	0.0 %	10,485,508	0%	10,485,508
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	30,878	0%	30,878	-50.6 %	62,531
Gross	BF	30,878	0%	30,878	-50.6 %	62,531
Amortisation	BG	0	0%	0	0%	0
Other financial assets	Net	107,546	-0.5 %	108,128	1.4 %	106,683
Gross	BH	107,546	-0.5 %	108,128	1.4 %	106,683
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial assets	Net	10,624,031	0.0 %	10,624,514	-0.3 %	10,654,722

Current Assets (III)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total Current Assets	Net	38,028,581	-2.5 %	39,005,013	5.4 %	37,019,359
Gross	CJ	39,200,109	-2.1 %	40,025,569	5.4 %	37,957,289
Amortisation	CK	1,171,528	14.8 %	1,020,556	8.8 %	937,930

Stocks

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Raw materials	Net	2,496,885	7.8 %	2,316,259	-28.7 %	3,250,001
Gross	BL	2,533,555	7.7 %	2,353,388	-28.5 %	3,290,405
Amortisation	BM	36,670	-1.2 %	37,129	-8.1 %	40,404
Work in progress (goods)	Net	0	0%	0	0%	0
Gross	BN	0	0%	0	0%	0
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	0	0%	0
Gross	BP	0	0%	0	0%	0
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	4,601,747	-8.6 %	5,035,754	6.9 %	4,712,176
Gross	BR	4,879,739	-8.4 %	5,329,234	7.3 %	4,967,687
Amortisation	BS	277,992	-5.3 %	293,480	14.9 %	255,511
Goods for resale	Net	503,190	-10.7 %	563,352	6.2 %	530,421
Gross	BT	568,439	-9.6 %	628,601	4.2 %	603,258
Amortisation	BU	65,249	0%	65,249	-10.4 %	72,837
Sub Total Stocks	Net	7,601,822	-4.0 %	7,915,365	-6.8 %	8,492,598

Advance payments to suppliers

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Advance payments to suppliers	Net	72,050	-56.4 %	165,316	0%	0
Gross	BV	72,050	-56.4 %	165,316	0%	0
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Trade accounts receivable	Net	17,464,706	-4.8 %	18,350,861	7.7 %	17,033,871
Gross	BX	18,256,323	-3.8 %	18,975,559	7.8 %	17,603,049
Amortisation	BY	791,617	26.7 %	624,698	9.8 %	569,178
Other debtors	Net	12,104,497	8.0 %	11,203,703	9.2 %	10,260,627
Gross	BZ	12,104,497	8.0 %	11,203,703	9.2 %	10,260,627
Amortisation	CA	0	0%	0	0%	0
Capital subscribed and called up	Net	0	0%	0	0%	0
Gross	CB	0	0%	0	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total debtors	Net	29,569,203	0.0 %	29,554,564	8.3 %	27,294,498

Divers

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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	716,023	-40.8 %	1,208,557	42.5 %	848,263
Gross	CF	716,023	-40.8 %	1,208,557	42.5 %	848,263
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	716,023	-40.8 %	1,208,557	42.5 %	848,263

Prepaid expenses

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Prepaid expenses	Net	69,484	-56.9 %	161,211	-58.0 %	384,000
Gross	CH	69,484	-56.9 %	161,211	-58.0 %	384,000
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Expenses of loan issue to be spread	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	14,923	-46.7 %	27,983	-2.6 %	28,720
Gross		14,923	-46.7 %	27,983	-2.6 %	28,720

References

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Accounts – Passive

Grand Total - Passive Accounts (I to V)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Grand Total (I to V)	EE		53,539,158	-0.8 %	53,955,732	2.9 %	52,418,473

Shareholder Equity (I)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total shareholders' equity (Total I)	DL	25,346,860	-4.4 %	26,502,984	2.2 %	25,944,133
Equity and shareholders' equity	DA	7,587,740	0.3 %	7,567,740	0%	7,567,740
Issue and merger premiums	DB	6,709,411	0%	6,709,411	0%	6,709,411
Revaluation differentials	DC	53,835	0%	53,835	0%	53,835
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	860,194	0%	860,194	0%	860,194
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	138,186	0%	138,186	0%	138,186
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	1,438,194	0%	1,438,194	0%	1,438,194
Of which reserve for buying originals works from alive artists	EJ	0	0%	0	0%	0
Profits or losses brought forward	DH	3,681,232	1.6 %	3,624,878	79.1 %	2,023,979
Profit or loss for the period	DI	4,878,068	-20.2 %	6,110,546	-14.5 %	7,150,578
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	2,016

Other capital resources (II)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total provisions for risks and charges (Total III)	DR	3,620,924	9.2 %	3,316,904	11.4 %	2,978,670
Risk provisions	DP	3,534,529	9.4 %	3,231,954	11.2 %	2,906,736
Reserves for charges	DQ	86,395	1.7 %	84,950	18.1 %	71,934

Liabilities (IV)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total Liabilities (Total IV)	EC	24,510,628	1.6 %	24,115,490	2.8 %	23,465,729
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	0	0%	0	0%	0
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	606,747	-36.5 %	955,045	171.3 %	351,967
Trade accounts payables	DX	17,984,476	2.4 %	17,557,042	0.9 %	17,403,224
Tax and social security liabilities	DY	5,668,165	2.2 %	5,543,601	35.4 %	4,095,102
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	251,240	320.1 %	59,802	-96.3 %	1,615,436

Translation loss (V)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Translation loss (Total V)	ED		60,746	198.4 %	20,354	-32.0 %	29,944

Equalization accounts

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Deferred income	EB		0	0%	0	0%	0

References

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	23,903,881	0%	0	0%	23,113,762
Of which current bank facilities	EH	0	0%	0	0%	0

Result account

1 - Operating result (I-II)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Operating result (Total I-II)	GG		6,436,837	-3.5 %	6,672,776	-7.2 %	7,187,445

2 - Financial result (V-VI)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Financial result (Total V-VI)	GV		872,071	-54.7 %	1,925,222	13.3 %	1,698,758

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

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW		7,308,908	-15.0 %	8,597,998	-3.2 %	8,886,203

4 - Extraordinary result (VII-VIII)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Extraordinary result (Total VII-VIII)	HI		-268,198	-145.7 %	-109,151	-63931.0 %	171

Profit or loss

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Profit or loss	HN		4,878,068	-20.2 %	6,110,546	-14.5 %	7,150,576

Total Income (I+III+V+VII)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total Income (Total I+III+V+VII)	HL		100,143,729	0.5 %	99,661,442	-10.3 %	111,095,222

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

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total Charges (Total II+IV+VI+VIII+IX+X)	HM		95,265,662	1.8 %	93,550,897	-10.0 %	103,944,651

Operating income (I)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total operating income (Total I)	FR		99,147,216	1.7 %	97,492,859	-8.7 %	106,785,031

Operating income (details)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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	82,208,693	1.7 %	80,824,131	-9.2 %	88,976,152
France	FD	30,796,237	-7.0 %	33,123,940	11.1 %	29,827,483
Export	FE	51,412,457	7.8 %	47,700,191	-19.4 %	59,148,669
Sale of services	FI	14,979,202	1.1 %	14,812,494	-10.8 %	16,598,169
France	FG	1,450,626	18.9 %	1,220,319	-1.9 %	1,243,897
Export	FH	13,528,576	-0.5 %	13,592,175	-11.5 %	15,354,272
Net turnover	FL	97,187,895	1.6 %	95,636,625	-9.4 %	105,574,321
France	FJ	32,246,863	-6.1 %	34,344,259	10.5 %	31,071,380
Export	FK	64,941,033	6.0 %	61,292,366	-17.7 %	74,502,941
Stocked production	FM	-449,495	-224.3 %	361,547	-0.8 %	364,455
Self-constructed assets	FN	483,150	0%	0	0%	0
Operating grants	FO	63,252	0%	0	0%	0
Release of reserves and provisions	FP	1,611,982	38.5 %	1,164,185	164.1 %	440,768
Other income	FQ	250,432	-24.2 %	330,502	-18.5 %	405,487

Operating charges (II)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total operating charges (Total II)	GF		92,710,379	2.1 %	90,820,083	-8.8 %	99,597,586

Exploitation charges

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Purchase of goods for resale	FS	14,105,623	9.7 %	12,856,691	26.9 %	10,127,833
Change in stocks of goods for resale	FT	60,162	337.4 %	-25,343	-113.9 %	182,498
Purchase of raw materials	FU	33,285,731	2.5 %	32,463,000	-24.7 %	43,120,031
Change in stocks of raw materials	FV	-180,167	-119.2 %	937,018	-24.3 %	1,237,960
Other external purchases and charges	FW	26,387,384	2.1 %	25,854,679	-3.0 %	26,650,868
Tax, duty and similar payments	FX	1,253,591	3.8 %	1,207,686	3.1 %	1,171,306
Payroll	FY	10,330,822	1.5 %	10,179,869	2.5 %	9,931,603
Social security costs	FZ	4,684,024	-3.3 %	4,841,762	3.5 %	4,677,173

Depreciation

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Depreciation of fixed assets	GA	1,151,928	-6.4 %	1,230,213	0.6 %	1,223,354
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	470,863	469.9 %	82,626	-65.5 %	239,577
Provisions for risks and charges	GD	562,035	5.8 %	531,092	-1.1 %	537,218

Other charges

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Other charges	GE		598,384	-9.4 %	660,790	32.6 %	498,165

Operating charges (III-IV)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total financial income (Total V)	GP	994,733	-54.1 %	2,165,708	10.9 %	1,952,193
Share financial income	GJ	884,544	-54.2 %	1,933,239	4.4 %	1,852,573
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	18,392	12.5 %	16,350	556.4 %	2,491
Released provisions and transferred charges	GM	34,983	4.4 %	33,498	-1.9 %	34,164
Exchange gains	GN	56,814	-68.9 %	182,621	190.0 %	62,965
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial charge (VI)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total financial charge (Total VI)	GU	122,662	-49.0 %	240,486	-5.1 %	253,435
Financial reserves and provisions	GQ	45,923	-39.9 %	76,373	165.9 %	28,720
Interest and similar charges	GR	7,341	32.2 %	5,551	-85.6 %	38,634
Exchange losses	GS	69,397	-56.2 %	158,562	-14.8 %	186,081
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total extraordinary income (Total VII)	HD	1,780	-38.1 %	2,875	-99.9 %	2,357,998
Extraordinary operating income	HA	1,043	21.4 %	859	-83.2 %	5,109
Extraordinary income from capital transactions	HB	737	0%	0	0%	613,950
Released provisions and transferred charges	HC	0	0%	2,016	-99.9 %	1,738,939

Extraordinary charges (VIII)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total extraordinary charges (Total VIII)	HH	269,978	141.0 %	112,026	-95.2 %	2,357,827
Extraordinary operating charges	HE	269,241	140.3 %	112,026	267.3 %	30,497
Extraordinary charges from capital transactions	HF	737	0%	0	0%	2,327,330
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Employee profit sharing (Total IX)	HJ		510,458	-17.5 %	618,925	46.5 %	422,457

Tax on profits (X)

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Tax on profits (Total X)	HK		1,652,184	-6.1 %	1,759,377	34.0 %	1,313,346

References

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	1,023,135	10.2 %	928,451	382.7 %	192,363
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

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	1,546,190	0%	0	0%	3,730,993
Gross value at the end of period	OL	41,969,994	0%	0	0%	40,068,033

Research and development Charge (Total I)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	CZ	0	0%	0	0%	0
Increasess due to revaluation	KB	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KC	0	0%	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)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	KD	5,071,939	0%	0	0%	4,974,039
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	34,125	0%	0	0%	55,183
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	213,515	0%	0	0%	0
Gross value at the end of period	LW	4,892,549	0%	0	0%	5,029,222

Tangible fixed assets (Total III)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	LN	24,330,253	0%	0	0%	23,986,433
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	3,451,155	0%	0	0%	1,761,413
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	1,327,994	0%	0	0%	1,363,758
Gross value at the end of period	NH	26,453,413	0%	0	0%	24,384,088

Financial assets (Total IV)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	LQ	10,624,514	0%	0	0%	13,013,786
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	4,199	0%	0	0%	8,171
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	4,682	0%	0	0%	2,367,234
Gross value at the end of period	NK	10,624,031	0%	0	0%	10,654,723

Reserve for depreciation

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

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases	PB	0	0%	0	0%	0
Decreasess	PC	0	0%	0	0%	0
Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	PE	4,460,618	0%	0	0%	4,041,272
Increases	PF	112,509	0%	0	0%	210,037
Decreasess	PG	213,515	0%	0	0%	0
Decreasess by budget item transfer	PH	4,359,613	0%	0	0%	4,251,309

Total fixed assets amotisation (Total III)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	QU	20,643,351	0%	0	0%	19,817,354
Increases	QV	1,545,767	0%	0	0%	1,013,317
Decreases	QW	74,392	0%	0	0%	384,341
Decreasess by budget item transfer	QX	22,114,726	0%	0	0%	20,446,330

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value at begin of period	Z91	0	0%	0	0%	0
Increases	Z92	0	0%	0	0%	0
Depreciation of fixed assets during period	Z9	0	0%	0	0%	0
Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Value at begining of period	7C	4,337,460	0%	0	0%	5,134,613
Increases	UB	1,078,821	0%	0	0%	805,515
Decreases	UC	623,830	0%	0	0%	2,021,512
Value at the end of period	UD	4,792,452	0%	0	0%	3,918,616

Includes Total allocations

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Operating	UE	1,032,899	0%	0	0%	776,795
Financial	UG	45,923	0%	0	0%	28,720
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Operating	UF	588,847	0%	0	0%	248,405
Financial	UH	34,983	0%	0	0%	34,168
Exceptional	UK	0	0%	0	0%	1,738,939

Total regulated provisions (Total I)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Value at begining of period	3Z	0	0%	0	0%	16,185
Increases	TS	0	0%	0	0%	0
Decreases	TT	0	0%	0	0%	14,169
Value at the end of period	TU	0	0%	0	0%	2,016

Total risk and charge provisions (Total II)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Value at begining of period	5Z	3,316,904	0%	0	0%	2,447,721
Increases	TV	607,958	0%	0	0%	565,938
Decreases	TW	303,938	0%	0	0%	34,988
Value at the end of period	TX	3,620,924	0%	0	0%	2,978,671

Total Provision for depreciation (Total III)

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Value at begining of period	7B	1,020,556	0%	0	0%	2,670,710
Increases	TY	470,863	0%	0	0%	239,579
Decreases	TZ	319,891	0%	0	0%	1,972,355
Value at the end of period	UA	1,171,528	0%	0	0%	937,934

State deadlines claims and debts at the end of period

State claims

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Gross value	VT	30,568,729	0%	0	0%	28,416,890
1 year at most	VU	29,890,322	0%	0	0%	27,812,917
More than one year	VV	678,408	0%	0	0%	603,973

State of loans

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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	30,878	0%	0	0%	62,531
Loans (1 year at most)	UR	30,878	0%	0	0%	31,953
Other financial assets (gross)	UT	107,546	0%	0	0%	106,683
Other financial assets (1 year at most)	UV	1,100	0%	0	0%	300

Receivables statement of assets

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Customers doubtful or disputed	VA	538,679	0%	0	0%	315,739
Other claims customer	UX	17,717,644	0%	0	0%	17,287,310
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	33,281	0%	0	0%	33,531
Social Security and other social organizations	UZ	6,998	0%	0	0%	3,481
Income taxes	VM	1,392,373	0%	0	0%	1,538,417
Value added tax	VB	134,084	0%	0	0%	241,007
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	3,611,219	0%	0	0%	151,272
Accounts receivable (including claims relating to the operation of pension titles)	VR	6,926,541	0%	0	0%	8,292,919

Prepaid

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Prepaid	VS		69,484	0%	0	0%	384,000

State Debt

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Total debt (gross)	VY	23,903,881	0%	0	0%	23,113,762
1 year at most	VZ2	23,903,881	0%	0	0%	23,113,762
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

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most	7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most	7Y3	0	0%	0	0%	0
Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most	7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most	7Z3	0	0%	0	0%	0
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most	VG2	0	0%	0	0%	0
More than 1 year and 5 years at most	VG3	0	0%	0	0%	0
Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most	VH2	0	0%	0	0%	0
More than 1 year and 5 years at most	VH3	0	0%	0	0%	0
Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most	8A2	0	0%	0	0%	0
More than 1 year and 5 years at most	8A3	0	0%	0	0%	0
Suppliers and associated accounts (gross)	8B1	17,984,476	0%	0	0%	17,403,224
1 year at most	8B2	17,984,476	0%	0	0%	17,403,224
More than 1 year and 5 years at most	8B3	17,984,476	0%	0	0%	17,403,224
Personnel and associated accounts (gross)	8C1	3,462,236	0%	0	0%	2,755,695
1 year at most	8C2	3,462,236	0%	0	0%	2,755,695
More than 1 year and 5 years at most	8C3	0	0%	0	0%	0
Social Security and other social organizations (gross)	8D1	1,799,890	0%	0	0%	876,017
1 year at most	8D2	1,799,890	0%	0	0%	876,017
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	93,295	0%	0	0%	41,229
1 year at most	VW2	93,295	0%	0	0%	41,229
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	312,744	0%	0	0%	422,161
1 year at most	VQ2	312,744	0%	0	0%	422,161
More than 1 year and 5 years at most	VQ3	0	0%	0	0%	0
Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most	8J2	0	0%	0	0%	0
More than 1 year and 5 years at most	8J3	0	0%	0	0%	0
More than 5 years	8J4	0	0%	0	0%	0
Groups and associates (gross)	VI1	0	0%	0	0%	1,086,789
1 year at most	VI2	0	0%	0	0%	1,086,789
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	251,240	0%	0	0%	528,647
1 year at most	8K2	251,240	0%	0	0%	528,647
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

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
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

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Dividends	ZE		0	0%	0	0%	0

Commitments

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Average number of employees	YP		0	0%	0	0%	0

Groups and Shareholders

			31/12/2014	Variation	31/12/2013	Variation	31/12/2012
Groups and Shareholders	ZR		0	-	-	-	-

Ratios

Structure and Liquidity

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Fixed Asset Financing	1.32	-3.6 %	1.37	2.2 %	1.34	1.35	-2.2 %
Global Debt	91 days	0%	91 days	13.8 %	80 days	146 days	-37.7 %
Working Capital Fund overall net	50 days	-10.7 %	56 days	21.7 %	46 days	79 days	-36.7 %
Financial independence	-	-	-	-	-	129.75 %	-
Solvability	47.34 %	-3.6 %	49.12 %	-0.7 %	49.49 %	25.80 %	83.5 %
Capacity debt futures	-	-	-	-	-	684.25 %	-
Coverage of current assets by net working capital overall	34.43 %	-7.9 %	37.37 %	3.6 %	36.07 %	36.89 %	-6.7 %
General Liquidity	1.25	-	-	-	1.20	0.68	83.8 %
Restricted Liquidity	1.28	-	-	-	1.24	0.94	36.2 %

Management or rotation

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Need background in operating working capital	47 days	-7.8 %	51 days	21.4 %	42 days	46 days	2.2 %
Treasury	3 days	-40.0 %	5 days	66.7 %	3 days	23 days	-87.0 %
Inventory turnover of goods	14 days	-22.2 %	18 days	-14.3 %	21 days	15 days	-6.7 %
Average length of credit granted to customers	68 days	-4.2 %	71 days	18.3 %	60 days	64 days	6.3 %
Average length of credit obtained suppliers	88 days	0%	88 days	14.3 %	77 days	61 days	44.3 %
Inventory turnover of raw materials in industrial enterprises	27 days	3.8 %	26 days	-3.7 %	27 days	65 days	-58.1 %
Inventory turnover of intermediate and finished products in the industrial enterprise	367 days	-	-	-	433 days	171 days	114.6 %
Rotation tangible assets	367.39 %	-	-	-	432.96 %	165.56 %	121.9 %

Profitability of the business

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Margin trading	-14.58 %	-8.6 %	-13.42 %	-37.4 %	-9.77 %	0.21 %	-7042.9 %
Profitability of the business	7.57 %	-5.7 %	8.03 %	-4.1 %	8.37 %	3.61 %	109.7 %
Net profit	5.02 %	-21.4 %	6.39 %	-5.6 %	6.77 %	2.34 %	114.5 %
Growth rate of turnover (excluding VAT)	1.62 %	117.2 %	-9.41 %	-568.2 %	2.01 %	0.03 %	5300.0 %
Rates integration	24.24 %	-3.0 %	25.00 %	7.2 %	23.32 %	28.61 %	-15.3 %
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.00 %	0%
Work Factor	63.72 %	1.4 %	62.82 %	5.9 %	59.34 %	86.78 %	-26.6 %
Weight interests	0.13 %	-48.0 %	0.25 %	4.2 %	0.24 %	0.57 %	-77.2 %

Return on capital

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Cash flow from the overall profitability	5.61 %	-27.7 %	7.76 %	1.2 %	7.67 %	3.56 %	57.6 %
Rates of economic profitability	29.00 %	0%	29.00 %	-14.7 %	34.00 %	3.00 %	866.7 %
Financial profitability	25,346,860.00 %	-4.4 %	26,502,984.00 %	2.2 %	25,944,133.00 %	468,680.00 %	5308.1 %
Return on investment	19.73 %	-17.7 %	23.96 %	-16.0 %	28.54 %	5.24 %	276.5 %

Management intermediate balances

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Turnover

97,187,895

1.6 %

95,636,625

-9.4 %

105,574,321

2,934,114

3212.3 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Sales of goods

- Purchase of goods

14,105,623

9.7 %

12,856,691

26.9 %

10,127,833

+/- Stock of goods variation

60,162

337.4 %

-25,343

-113.9 %

182,498

Trading margin

-14,165,785 €

-10.4 %

-12,831,348 €

-24.5 %

-10,310,331 €

4,188 €

-338347.0 %

-14.58 % CA

-8.6 %

-13.42 % CA

-37.4 %

-9.77 % CA

0.25 % CA

-5932.0 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Sale of goods produced

97,187,895

1.6 %

95,636,625

-9.4 %

105,574,321

+/- Stocked production

-449,495

-224.3 %

361,547

-0.8 %

364,455

+ Self-constructed assets

483,150

Period production

97,221,550 €

1.3 %

95,998,172 €

-9.4 %

105,938,776 €

1,988,311 €

4789.7 %

100.03 % CA

-0.3 %

100.38 % CA

0.0 %

100.35 % CA

97.24 % CA

2.9 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Trading margin

-14,165,785

-10.4 %

-12,831,348

-24.5 %

-10,310,331

4,188

-338347.0 %

+ Period Production

97,221,550

1.3 %

95,998,172

-9.4 %

105,938,776

1,988,311

4789.7 %

- Purchase of raw materials

33,285,731

2.5 %

32,463,000

-24.7 %

43,120,031

+/- Change in stocks of raw materiels

-180,167

-119.2 %

937,018

-24.3 %

1,237,960

- Other external purchases and charges

26,387,384

2.1 %

25,854,679

-3.0 %

26,650,868

Added value

23,562,817 €

-1.5 %

23,912,127 €

-2.9 %

24,619,586 €

978,412 €

2308.3 %

24.24 % CA

-3.0 %

25.00 % CA

7.2 %

23.32 % CA

28.61 % CA

-15.3 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Added value

23,562,817 €

-1.5 %

23,912,127 €

-2.9 %

24,619,586 €

978,412 €

2308.3 %

+ Operating grants

63,252

- Tax, duty and similar payments

1,253,591

3.8 %

1,207,686

3.1 %

1,171,306

- Personal charges

15,014,846

0.0 %

15,021,631

2.8 %

14,608,776

Gross operating surplus

7,357,632 €

-4.2 %

7,682,810 €

-13.1 %

8,839,504 €

3,964 €

185534.7 %

7.57 % CA

-5.7 %

8.03 % CA

-4.1 %

8.37 % CA

3.61 % CA

109.7 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Gross operating surplus

7,357,632 €

-4.2 %

7,682,810 €

-13.1 %

8,839,504 €

3,964 €

185534.7 %

+ Release of reserves and provisions

1,611,982

38.5 %

1,164,185

164.1 %

440,768

+ Other operating income

250,432

-24.2 %

330,502

-18.5 %

405,487

- Depreciation/ Amortisation

2,184,826

18.5 %

1,843,931

-7.8 %

2,000,149

- Other charges

598,384

-9.4 %

660,790

32.6 %

498,165

Operating result

6,436,836 €

-3.5 %

6,672,776 €

-7.2 %

7,187,445 €

663 €

970765.2 %

6.62 % CA

-5.2 %

6.98 % CA

2.5 %

6.81 % CA

0.41 % CA

1514.6 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Operating result

6,436,836 €

-3.5 %

6,672,776 €

-7.2 %

7,187,445 €

663 €

970765.2 %

+/- Result of joint-venture transferred from/to other partners

+ Financial income

994,733

-54.1 %

2,165,708

10.9 %

1,952,193

- Financial charges

122,662

-49.0 %

240,486

-5.1 %

253,435

Pre-tax result

7,308,907 €

-15.0 %

8,597,998 €

-3.2 %

8,886,203 €

1,183 €

617989.4 %

7.52 % CA

-16.4 %

8.99 % CA

6.8 %

8.42 % CA

0.84 % CA

795.2 %

31/12/2014

Variation

31/12/2013

Variation

31/12/2012

SECTOR MEDIAN 2014

Extraordinary income

1,780

-38.1 %

2,875

-99.9 %

2,357,998

13,221

-86.5 %

- Extraordinary charges

269,978

141.0 %

112,026

-95.2 %

2,357,827

Extraordinary result

-268,198 €

-145.7 %

-109,151 €

-63931.0 %

171 €

271 €

-99066.1 %

-0.28 % CA

-154.5 %

-0.11 % CA

0.00 % CA

0.12 % CA

-333.3 %

	31/12/2014	Variation	31/12/2013	Variation	31/12/2012	SECTOR MEDIAN 2014
Pre-tax result	7,308,907 €	-15.0 %	8,597,998 €	-3.2 %	8,886,203 €	1,183 €	617989.4 %
Extraordinary result	-268,198 €	-145.7 %	-109,151 €	-63931.0 %	171 €	271 €	-99066.1 %
- Employee profit sharing	510,458	-17.5 %	618,925	46.5 %	422,457		-
- Tax on profits	1,652,184	-6.1 %	1,759,377	34.0 %	1,313,346		-
Net result	4,878,067 €	-20.2 %	6,110,545 €	-14.5 %	7,150,571 €	26,857 €	18063.1 %
	5.02 % CA	-21.4 %	6.39 % CA	-5.6 %	6.77 % CA	2.34 % CA	114.5 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.79
UK Pound	1	Rs.101.37
Euro	1	Rs.73.46
EUR	1	Rs. 73.10

Note : Above are approximate rates obtained from sources believed to be correct

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.

MIRA INFORM REPORT

Company name

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Directors

Ultimate Holding Company

Judgment and Preferential

Establishment Details

Other Establishment(s)

Workforces

Commentary

Industry comparison

Preferential rights details and history

Group Data

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Status history

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Synthesized Accounts

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Other incomes tax return forms

Reserve for depreciation

Movements during period affecting charge allocated over several period

Provisions included in balance sheet

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Ratios

Unit