MIRA INFORM REPORT

 

 

Report No. :

355040

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

UNISTO

 

 

Registered Office :

Unisto 50 Rue De Lectoure 68300 Saint Louis

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

January 1956

 

 

Legal Form :

Public limited company with board of directors

 

 

Line of Business :

Production of consumer goods plastics

 

 

No. of Employee :

199 (2006)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

50,000 €

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 summery

 

SIRET

945 650 836 00022

Name

UNISTO

Acronym

-

Trade name

-

Status

Economically active

Postal Address

UNISTO
50 RUE DE LECTOURE
68300 SAINT LOUIS

Share Capital

500,000 Euros

Telephone

03 89 70 44 00

Activity (APE)

Production of consumer goods plastics(2229B)

RCS Registration

RCS Mulhouse B 945 650 836

Formation Date

01/1956

EUR VAT Number

FR19945650836

Deregistration Date

-

Last account Date

31/12/2006

Court Registry Number

19 5 6B00083

Incorporiation Date

01/1956

Registration Court

Mulhouse (68)

Fax

03 89 67 84 94

Nationality

France

 

Legal form

Public limited company with board of directors

Currency

Euros

 

 

Credit Limit

 

50,000 €

 

 

Key Financials

 

YEAR TO DATE

TURNOVER

GROSS OPERATING SURPLUS

SHAREHOLDER'S EQUITY

NET RESULT

EMPLOYEES

31/12/2006

13,718,530 €

11.27% Turnover

3,703,917 €

200,967 €

199 employees

31/12/2005

13,714,934 €

13.42% Turnover

3,667,746 €

420,121 €

204 employees

31/12/2004

13,528,849 €

16.14% Turnover

2,809,902 €

464,465 €

213 employees

 

Trends

 

Profitability

Liquidity

Net Worth

 

 

Directors

 

Current Directors

4

 

 

Judgment and Preferential

 

Judgment

No judgement

Preferential Right

Collection of preferential rights impossible on this company

 

 

Establishment Details

 

Type of Establishment

Head Office

Production Role

-

APE/NAF Code

2229B

Activity

Fabrication de produits de consommation courante en matières plastiques

Formation Date

01/2000

Reason for Formation

Other

Closure Date

-

Reason for Closure

-

Reactivation Date

-

Seasonality

-

Activity Nature

-

Activity Location

Other

Trading Address

50 RUE DE LECTOURE 
68300 SAINT LOUIS

Department

Haut-Rhin (68)

Location Surface

-

District

4

City

SAINT LOUIS

Status

Economically active

Business Pages FT®

PUBLICITE PAR L'OBJET

Region

Alsace

Area

14

Size of Urban Area

-

 

 

Other Establishment(s)

 

Regionality

Legal unit with all establishments in same area

Mono-activity status

Legal unit having all establishments with the same main activity

Branches

0 branch entities in this company

 

Company Name

Company Type

APE/NAF Code

Activity

City

Post Code

UNISTO

Head Office

2229B

Fabrication de produits de consommation courante en matières plastiques

SAINT LOUIS

68300

 

 

Workforces

 

Workforce at address

100 to 199 employees

Company workforce

100 to 199 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 increase in the gearing percentage over the last two accounting periods is 32 %

High risk workforce size

The return on total assets employed is 3.22

The stock to turnover ratio is 8.92

The ratio total assets to total liabilities is 1.64

The sales to current assets ratio is 2.81

The pre-tax profit is 306,012 €

The net turnover is 13,718,530 €

The net current assets are 4,886,353 €

The liabilities are 5,784,669 €

The total assets are 9,492,397 €

The risk provisions are 64 €

Department code with low risk rating

Industry code with low risk rating

The company has 4 directors

The creditor days are 42.16

The shareholder's equity is 3,703,917 €

 

 

 

Industry comparison

 

Activity (APE)

Production of consumer goods plastics(2229B)

 

 

Collective procedures

 

No judgment information for the company

 

 

Preferential rights details and history

 

Summary of preferential rights

Status of Monitoring

Collection of preferential rights impossible on this company

Number of active preferential rights

0

Total amount

-

Due remaining amount

-

 

Group Data

No group information available for the company

 

Shareholders

No Shareholders available for this company

 

Linkages

No Linkages information available for the company.

 

 

Director(s)

 

Name

M. GROSSKOST DANIEL

Manager position

Chairman of the Board

Date of birth

12/04/1948

Place of birth

Type

Individual

Name at birth

Name

M. STOFFEL MARIO

Manager position

Administrator

Date of birth

30/08/1943

Place of birth

ZURICH(SUISSE)

Type

Individual

Name at birth

 

Name

M. BESTIEN CHRISTIAN JEAN JACQUES

Manager position

Delegated managing director

Date of birth

13/05/1960

Place of birth

GAROVA

Type

Individual

Name at birth

Name

M. STOFFEL PETER

Manager position

Managing director

Date of birth

15/05/1972

Place of birth

SAINT GALLE

Type

Individual

Name at birth

 

 

Previous Directors

 

Manager position

Title and name

Date of Birth/Place of Birth

Chief Executive Officer

M. STOFFEL MARIO

30/08/1943 - ZURICH SUISSE

Managing director

M. GROSSKOST DANIEL

-

Administrator

M. KELLER JEAN-PIERRE

-

Administrator

M. STOFFEL MARIO

30/08/1943 - ZURICH SUISSE

 

 

Status history

 

No Status History

 

 

Recent publications in Gazettes

 

Publication date

Gazette Name

Description

11/10/2015

JAL

Resignation / Revocation of the social representative

Journal des ménagères (Le)


Date de décision : 17/06/2015
La société 945650836 - UNISTO, 50 RUE DE LECTOURE, 68300 SAINT LOUIS 
Fait l'objet du départ de Monsieur Christian BESTIEN

11/10/2015

JAL

Modification of the share capital

Journal des ménagères (Le)


Date de décision : 03/07/2015
La société : 945650836 - UNISTO, 50 RUE DE LECTOURE, 68300 SAINT LOUIS a subi une augmentation de son capital social désormais de 1 000 000 € 
Date d'effet : 03/07/2015

20/07/2015

Bodacc C

Comptes annuels et rapports

68 - HAUT-RHIN

GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE

3335 - 945650836 RCS. UNISTOForme : S.A.. Adresse : 50, rue de Lectoure 68300 Saint-Louis. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.

17/12/2014

Bodacc B

Modification et mutation diverse

68 - HAUT-RHIN

GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE

1745 - 945 650 836 RCS Mulhouse. UNISTO. Forme : SA. Administration : directeur général, président du conseil d'administration : GROSSKOST (Daniel) ; directeurs généraaux délégués : BESTIEN (Christian, Jean, Jacques), STOFFEL (Peter) ; administrateur : STOFFEL (Mario) ; commissaire aux comptes titulaire : DELARUE (Jean-Marie) ; commissaire aux comptes suppléant : BASSE SEINE EXPERTISE COMPTABLE (SASh). Activité : 
Commentaires : modification survenue sur l'administration.

16/11/2014

JAL

Appointment of the social representative

Journal des ménagères (Le)


Date de décision : 19/12/2013
Société faisant l'objet d'une nomination : 945650836 - UNISTO, 50 RUE DE LECTOURE, 68300 SAINT LOUIS 
Nominé : Monsieur Peter STOFFEL, CH-9038 REHETOBEL

30/04/2013

Bodacc B

Modification et mutation diverse

68 - HAUT-RHIN

GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE

879 - 945 650 836 RCS Mulhouse. UNISTO. Forme : SA. Administration : directeur général délégué : BESTIEN (Christian, Jean, Jacques) ; président du conseil d'administration : GROSSKOST (Daniel) ; administrateurs : STOFFEL (Mario), STOFFEL (Peter) ; commissaire aux comptes titulaire : DELARUE (Jean-Marie) ; commissaire aux comptes suppléant : BASSE SEINE EXPERTISE COMPTABLE (SASh). Activité : 
Commentaires : modification survenue sur l'administration.

24/02/2013

JAL

Resignation / Revocation of the social representative

Petites affiches du Haut Rhin (Les)


Date de décision : 20/12/2012
La société 945650836 - UNISTO, 50 RUE DE LECTOURE, 68300 SAINT LOUIS 
Fait l'objet du départ de Monsieur Mario STOFFEL, 
De Monsieur Mario STOFFEL, 
De Monsieur Daniel GROSSKOST

24/02/2013

JAL

Appointment of the social representative

Petites affiches du Haut Rhin (Les)


Date de décision : 20/12/2012
Société faisant l'objet d'une nomination : 945650836 - UNISTO, 50 RUE DE LECTOURE, 68300 SAINT LOUIS 
Nominé : Monsieur Daniel GROSSKOST, 68400 RIEDISHEIM
En la fonction de : Président du Conseil d'Administration
Nominé : Monsieur Daniel GROSSKOST, 68400 RIEDISHEIM
En la fonction de : Directeur général
Nominé : Monsieur Christian BESTIEN, 68100 MULHOUSE

09/11/2011

Bodacc B

Modification et mutation diverse

68 - HAUT-RHIN

GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE

1179 - 945 650 836 RCS Mulhouse. UNISTO. Forme : S.A. Administration : président directeur général : STOFFEL (Mario) ; directeur général et administrateur : GROSSKOST (Daniel) ; administrateurs : STOFFEL (Peter) ; commissaire aux comptes titulaire : DELARUE (Jean-Marie) ; commissaire aux comptes suppléant : BASSE SEINE EXPERTISE COMPTABLE (SAS). Activité : 
Commentaires : modification survenue sur l'administration.

02/06/2010

Bodacc B

Modification et mutation diverse

68 - HAUT-RHIN

GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE

420 - 945 650 836 RCS Mulhouse. UNISTO. Forme : S.A. Administration : président directeur général : STOFFEL (Mario) ; directeur général et administrateur : GROSSKOST (Daniel) ; administrateurs : KELLER (Jean, Pierre, Marie-Joseph), STOFFEL (Peter) ; commissaire aux comptes titulaire : DELARUE (Jean-Marie) ; commissaire aux comptes suppléant : KEPPI (Roland). 
Commentaires : modification survenue sur l'administration.

03/11/2007

Bodacc C

Avis de dépôt des comptes

2660 - Mulhouse B 945 650 836. RC 56-B 83. UNISTO. Forme: S.A. Adresse du siège social: 50, rue de Lectoure,68300 Saint-Louis. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.

13/01/2007

Bodacc C

Avis de dépôt des comptes

2973 - RCS Mulhouse B 945 650 836. RC 56-B 83. UNISTO. Forme: S.A. Adresse du siège social: 50, rue de Lectoure,68300 Saint-Louis. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.

10/10/2005

Bodacc C

Avis de dépôt des comptes

2762 - RCS Mulhouse B 945 650 836. RC 56-B 83. UNISTO. Forme: S.A. Adresse du siège social: 50, rue de Lectoure,68300 Saint-Louis. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.

30/01/2005

Bodacc B

Modifications et mutations diverses

596 - RCS Mulhouse 945 650 836. RC 56-B 83. UNISTO. Forme : S.A. Capital : 500 000 euros. Adresse du siège social : 50 rue de Lectoure,, 68300 Administration : administrateur partant : SCHNYDER (Peter). Date d'effet : 11 juin 2003.

28/06/2001

Bodacc B

Modifications et mutations diverses

RCS Mulhouse B 945650836 RC 56-B 83 UNISTO. Forme : S.A. Capital : 500 000 euros. Adresse du siège social : 50 rue de Lectoure, 68300 Saint-Louis. Administration : ancien commissaire aux comptes suppléant : DEBRA (Marc). Nouveau commissaire aux comptes suppléant : KEPPI (Roland). Date d'effet : 25 janvier 2001.

08/08/2000

Bodacc B

Modifications et mutations diverses

Ancienne situation du siège social. RCS Mulhouse B 945 650 836 RC 56-B 83 UNISTO. Forme : S.A. Capital : 3 000 000 de F (fixe). Adresse : 50 rue de Lectoure, 68300 Saint-Louis Nouvelle situation du siège social. Capital : 500 000 euros Adjonction d'activité: tous articles à caractère décoratif, publicitaire ou utilitaire. Date d'effet : 25 mai 2000.

14/04/2000

Bodacc B

Modifications et mutations diverses

Ancienne situation du siège social. RCS Mulhouse B 945650836 RC 56-B 83 UNISTO. Forme : S.A. Capital : 3 000 000 de F. Adresse : 35 rue de Huningue, 68300 Saint-Louis Nouvelle situation du siège social. Adresse : 50 rue de Lectoure, 68300 Saint-Louis. Date d'effet : 6 janvier 2000.

10/09/1998

Bodacc B

Modifications et mutations diverses

RCS Mulhouse B 945 650 836 RC 56-B 83 UNISTO. Forme : S.A. Capital : 3 000 000 de F (fixe). Adresse du siège social : 35 rue de Huningue, 68300 Saint-Louis. Administration : ancien commissaire aux comptes suppléant : SCHUELLER (Jean- Louis) nouveau commissaire aux comptes suppléant : DEBRA (Marc). Date d'effet : 5 juin 1998.

 

 

Company events history

 

Date

Description

11/10/2015

Legal Gazette: Resignation / Revocation of the social representative

10/09/2015

Invalid balance sheet

20/07/2015

Bodacc C : Deposit accounts notice

03/07/2015

Legal Gazette: Modification of the share capital

17/12/2014

Bodacc B: Various editing or changing

17/11/2014

Amendment

17/11/2014

Appointment/resignation of company officers

17/11/2014

Minutes of Board meeting

17/11/2014

Private document

17/11/2014

Changes to the Board of Directors

19/12/2013

Legal Gazette: Appointment of the social representative

30/04/2013

Bodacc B: Various editing or changing

27/02/2013

Private document

27/02/2013

Minutes of Board meeting

27/02/2013

Changes to the Board of Directors

27/02/2013

Appointment/resignation of company officers

27/02/2013

Amendment

27/02/2013

New chairman (CEO, CoB)

24/02/2013

Legal Gazette: Resignation / Revocation of the social representative

20/12/2012

Legal Gazette: Appointment of the social representative

09/11/2011

Bodacc B: Various editing or changing

13/09/2011

Private document

13/09/2011

New auditor

13/09/2011

Appointment/resignation of company officers

13/09/2011

Amendment

02/06/2010

Bodacc B: Various editing or changing

28/04/2010

Amendment

28/04/2010

Appointment/resignation of company officers

28/04/2010

Minutes of general meeting of shareholders

28/04/2010

Private document

31/12/2006

New accounts available

31/12/2005

New accounts available

31/12/2004

New accounts available

03/12/2004

Amendment

03/12/2004

Appointment/resignation of company officers

03/12/2004

Appointment/resignation of company officers

03/12/2004

Changes to the Board of Directors

03/12/2004

Changes to the Board of Directors

03/12/2004

Minutes of general meeting of shareholders

03/12/2004

Minutes of general meeting of shareholders

03/12/2004

Private document

03/12/2004

Private document

31/12/2003

New accounts available

18/05/2001

New auditor

18/05/2001

Appointment/resignation of company officers

18/05/2001

Private document

18/05/2001

Amendment

18/05/2001

Minutes of general meeting of shareholders

22/06/2000

Registered office transferred inside jurisdiction of the Commercial Court

22/06/2000

Private document

22/06/2000

Minutes of general meeting of shareholders

22/06/2000

Extension of term

22/06/2000

Declaration of conformity

22/06/2000

Conversion of equity to euro

22/06/2000

Change to corporate purpose

22/06/2000

Updated articles of association

22/06/2000

Amendment

22/06/2000

Capital increase

11/05/2000

Private document

11/05/2000

Audit or Management Report

17/04/2000

Private document

17/04/2000

Planned merger

03/03/2000

Updated articles of association

03/03/2000

Private document

03/03/2000

Minutes of Board meeting

03/03/2000

Amendment

03/03/2000

Registered office transferred inside jurisdiction of the Commercial Court

10/07/1998

Private document

10/07/1998

Amendment

10/07/1998

Appointment/resignation of company officers

10/07/1998

Minutes of general meeting of shareholders

10/07/1998

New auditor

11/01/1994

Declaration of conformity

11/01/1994

Minutes of general meeting of shareholders

11/01/1994

New company name

11/01/1994

Updated articles of association

11/01/1994

Amendment

06/07/1993

Minutes of general meeting of shareholders

11/09/1992

Minutes of general meeting of shareholders

11/09/1992

Continuation of business despite loss of equity

11/09/1992

Amendment

03/08/1992

Minutes of general meeting of shareholders

03/08/1992

Changes to the Board of Directors

03/08/1992

Appointment/resignation of company officers

03/08/1992

Amendment

 

 

Synthesized Accounts

 

Annual Accounts

31/12/2006

31/12/2005

31/12/2004

Account period (month)

12

12

12

Account Type

Normal

Normal

Normal

Date of capture

-

-

-

Activity Code

2229B

2229B

2229B

Employees

199

204

213

Active account

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Capital not called

0

0%

0

0%

0

0

0%

Total fixed assets

4,605,972

0.4 %

4,589,582

15.5 %

3,973,921

79,572

5688.4 %

 Intangible assets

226,711

10.8 %

204,630

18.8 %

172,242

1,524

14776.0 %

 Tangible assets

4,362,120

-0.1 %

4,368,409

15.5 %

3,781,438

49,788

8661.4 %

 Financial assets

17,142

3.6 %

16,542

-18.3 %

20,241

1,952

778.2 %

Net current assets

4,886,353

16.7 %

4,185,526

12.8 %

3,711,371

342,926

1324.9 %

 Stocks

1,223,876

1.8 %

1,202,085

7.2 %

1,121,079

50,711

2313.4 %

 Advanced payments

1,822

0%

0

0%

0

0

0%

 Receivables

3,385,693

21.8 %

2,779,168

9.8 %

2,530,329

189,107

1690.4 %

 Securities and cash

274,963

34.6 %

204,273

240.7 %

59,963

47,984

473.0 %

 Prepaid expenses

-

-

-

-

-

469

-

Accounts of regularization

72

-93.6 %

1,131

-98.2 %

63,462

0

0%

Total Assets

9,492,397

8.2 %

8,776,239

13.3 %

7,748,755

454,206

1989.9 %

 

Passive Account

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Shareholders' equity

3,703,917

1.0 %

3,667,746

30.5 %

2,809,902

156,190

2271.4 %

Share capital

500,000

0%

500,000

0%

500,000

40,000

1150.0 %

Other capital resources

0

0%

0

0%

0

0

0%

Risk Provisions

64

-89.2 %

590

-99.2 %

78,383

0

0%

Liabilities

5,784,669

13.3 %

5,107,113

5.1 %

4,857,886

270,318

2039.9 %

 Financial liabilities

3,050,085

33.7 %

2,281,504

6.8 %

2,136,152

45,881

6547.8 %

 Advanced payments received

4,979

0%

0

0%

0

0

0%

 Trade account payables

1,584,732

1.0 %

1,569,528

23.3 %

1,273,348

90,680

1647.6 %

 Tax and social liabilities

1,127,450

-7.7 %

1,222,012

-12.3 %

1,393,902

81,532

1282.8 %

 Other debts and fixed assets liabilities

21,171

-39.3 %

34,858

-38.9 %

57,068

5,432

289.7 %

Account regularization

0

0%

0

0%

0

0

0%

Total liabilities

9,492,397

8.2 %

8,776,239

13.3 %

7,748,755

454,206

1989.9 %

 

Results

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Sales of Goods

14,058,687

-0.6 %

14,139,764

0.7 %

14,036,671

717,080

1860.5 %

Net turnover

13,718,530

0.0 %

13,714,934

1.4 %

13,528,849

697,510

1866.8 %

 of which net export turnover

3,532,037

-20.9 %

4,464,968

8.0 %

4,132,786

1,740

202890.6 %

Operating charges

13,597,943

2.0 %

13,331,201

2.4 %

13,017,766

691,309

1867.0 %

Operating profit/loss

460,744

-43.0 %

808,563

-20.6 %

1,018,905

29,207

1477.5 %

Financial income

25,247

44.0 %

17,538

1.8 %

17,226

163

15389.0 %

Financial charges

153,276

4.4 %

146,852

-14.5 %

171,799

3,394

4416.1 %

Financial profit/loss

-128,028

1.0 %

-129,314

16.3 %

-154,573

-1,254

-10109.6 %

Pretax net operating income

332,716

-51.0 %

679,249

-21.4 %

864,332

25,215

1219.5 %

Extraordinary income

9,014

-83.5 %

54,478

48.5 %

36,697

1,906

372.9 %

Extraordinary charges

13,064

-63.1 %

35,446

34.4 %

26,374

1,034

1163.4 %

Extraordinary profit/loss

-4,051

-121.3 %

19,032

84.4 %

10,323

0

0%

Net result

200,967

-52.2 %

420,121

-9.5 %

464,465

22,322

800.3 %

 

 

Accounts – Active

 

Normal Account

31/12/2006

31/12/2005

31/12/2004

Months

12

12

12

 

Grand Total - Active Accounts (I to VI)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Grand Total (I to VI)

Net

9,492,397

8.2 %

8,776,239

13.3 %

7,748,755

Gross

CO

18,282,595

7.3 %

17,034,166

2.2 %

16,664,728

Amortisation

1A

8,790,198

6.4 %

8,257,927

-7.4 %

8,915,973

 

Non declared distributed capital (I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Non declared distributed capital (I)

AA3

0

0%

0

0%

0

Gross

AA

-

-

-

-

-

 

Active fixed asset (II)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total Active fixed asset (II)

Net

4,605,972

0.4 %

4,589,582

15.5 %

3,973,921

Gross

BJ

13,303,809

4.6 %

12,718,660

-0.2 %

12,749,461

Amortisation

BK

8,697,837

7.0 %

8,129,078

-7.4 %

8,775,540

 

Intangible fixed assets

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

45,460

9.4 %

41,571

62.8 %

25,540

Gross

AF

235,751

4.2 %

226,147

11.4 %

203,059

Amortisation

AG

190,291

3.1 %

184,576

4.0 %

177,519

Goodwill

Net

121,959

0%

121,959

0%

121,959

Gross

AH

121,959

0%

121,959

0%

121,959

Amortisation

AI

0

0%

0

0%

0

Other intangible fixed assets

Net

59,292

44.3 %

41,100

66.1 %

24,743

Gross

AJ

59,292

44.3 %

41,100

66.1 %

24,743

Amortisation

AK

0

0%

0

0%

0

Pre-payments and downpayments

Net

0

0%

0

0%

0

Gross

AL

0

0%

0

0%

0

Amortisation

AM

0

0%

0

0%

0

Sub Total Intangible asset

Net

226,711

10.8 %

204,630

18.8 %

172,242

 

Tangilble fixed assets

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Lands

Net

13,761

0%

13,761

0%

13,761

Gross

AN

13,761

0%

13,761

0%

13,761

Amortisation

AO

0

0%

0

0%

0

Buildings

Net

2,632,072

-4.6 %

2,759,512

18.4 %

2,330,124

Gross

AP

3,947,919

0.1 %

3,942,706

-0.4 %

3,957,664

Amortisation

AQ

1,315,847

11.2 %

1,183,194

-27.3 %

1,627,540

Plant

Net

1,451,390

20.5 %

1,204,487

2.2 %

1,178,515

Gross

AR

8,328,612

8.7 %

7,664,784

-2.4 %

7,850,675

Amortisation

AS

6,877,222

6.5 %

6,460,297

-3.2 %

6,672,160

Other tangible fixed assets

Net

130,460

-17.0 %

157,249

-8.8 %

172,337

Gross

AT

444,937

-2.9 %

458,260

-2.6 %

470,658

Amortisation

AU

314,477

4.5 %

301,011

0.9 %

298,321

Fixed assets in construction

Net

134,437

104.2 %

65,829

3171.8 %

2,012

Gross

AV

134,437

104.2 %

65,829

3171.8 %

2,012

Amortisation

AW

0

0%

0

0%

0

Advances and payments on account

Net

0

0%

167,571

97.9 %

84,689

Gross

AX

0

0%

167,571

97.9 %

84,689

Amortisation

AY

0

0%

0

0%

0

Sub Total Tangible asset

Net

4,362,120

-0.1 %

4,368,409

15.5 %

3,781,438

 

 

Financial assets

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Associates at equity

Net

0

0%

0

0%

0

Gross

CS

0

0%

0

0%

0

Amortisation

CT

0

0%

0

0%

0

Other participations

Net

0

0%

0

0%

0

Gross

CU

0

0%

0

0%

0

Amortisation

CV

0

0%

0

0%

0

Inter-company receivables

Net

0

0%

0

0%

0

Gross

BB

0

0%

0

0%

0

Amortisation

BC

0

0%

0

0%

0

Other investment securities

Net

10,161

0%

10,161

0%

10,161

Gross

BD

10,161

0%

10,161

0%

10,161

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

6,981

9.4 %

6,381

-36.7 %

10,080

Gross

BH

6,981

9.4 %

6,381

-36.7 %

10,080

Amortisation

BI

0

0%

0

0%

0

Sub Total Financial assets

Net

17,142

3.6 %

16,542

-18.3 %

20,241

 

Current Assets (III)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total Current Assets

Net

4,886,353

16.7 %

4,185,526

12.8 %

3,711,371

Gross

CJ

4,978,714

15.4 %

4,314,375

12.0 %

3,851,805

Amortisation

CK

92,361

-28.3 %

128,849

-8.2 %

140,434

 

Stocks

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Raw materials

Net

426,141

7.2 %

397,394

12.5 %

353,086

Gross

BL

510,797

-1.5 %

518,700

11.4 %

465,759

Amortisation

BM

84,656

-30.2 %

121,306

7.7 %

112,673

Work in progress (goods)

Net

299,624

14.8 %

260,985

20.4 %

216,834

Gross

BN

299,624

14.8 %

260,985

20.4 %

216,834

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

498,111

-8.4 %

543,706

-1.4 %

551,159

Gross

BR

498,111

-8.4 %

543,706

-1.4 %

551,159

Amortisation

BS

0

0%

0

0%

0

Goods for resale

Net

0

0%

0

0%

0

Gross

BT

0

0%

0

0%

0

Amortisation

BU

0

0%

0

0%

0

Sub Total Stocks

Net

1,223,876

1.8 %

1,202,085

7.2 %

1,121,079

 

Advance payments to suppliers

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Advance payments to suppliers

Net

1,822

0%

0

0%

0

Gross

BV

1,822

0%

0

0%

0

Amortisation

BW

0

0%

0

0%

0

 

Debtors

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Trade accounts receivable

Net

3,132,457

20.3 %

2,603,921

6.7 %

2,441,539

Gross

BX

3,140,162

20.2 %

2,611,464

5.8 %

2,469,299

Amortisation

BY

7,705

2.1 %

7,543

-72.8 %

27,760

Other debtors

Net

225,387

48.7 %

151,562

105.7 %

73,678

Gross

BZ

225,387

48.7 %

151,562

105.7 %

73,678

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

3,357,844

21.9 %

2,755,483

9.6 %

2,515,217

Divers

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

274,963

34.6 %

204,273

240.7 %

59,963

Gross

CF

274,963

34.6 %

204,273

240.7 %

59,963

Amortisation

CG

0

0%

0

0%

0

Sub Total Divers

Net

274,963

34.6 %

204,273

240.7 %

59,963

 

Prepaid expenses

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Prepaid expenses

Net

27,849

17.6 %

23,685

56.7 %

15,112

Gross

CH

27,849

17.6 %

23,685

56.7 %

15,112

Amortisation

CI

0

0%

0

0%

0

 

Equalization accounts (IV to VI)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Expenses of loan issue to be spread

CW3

0

0%

0

0%

61,700

Gross

-

-

-

-

-

Premiums on redemption of bonds

CM3

0

0%

0

0%

0

Gross

-

-

-

-

-

Currency differential gain

CN3

72

-93.6 %

1,131

-35.8 %

1,762

Gross

-

-

-

-

-

 

References

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Due within one year

CP

0

0%

0

0%

0

Due after one year

CR

11,858

14.7 %

10,340

-71.1 %

35,755

 

 

Accounts – Passive

 

Grand Total - Passive Accounts (I to V)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Grand Total (I to V)

EE

9,492,397

8.2 %

8,776,239

13.3 %

7,748,755

 

Shareholder Equity (I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total shareholders' equity (Total I)

DL

3,703,917

1.0 %

3,667,746

30.5 %

2,809,902

Equity and shareholders' equity

DA

500,000

0%

500,000

0%

500,000

Issue and merger premiums

DB

83,983

0%

83,983

0%

83,983

Revaluation differentials

DC

0

0%

0

0%

0

Of which equity differential

EK

0

0%

0

0%

0

Legal reserve

DD

50,000

0%

50,000

0%

50,000

Statutory or contractual reserve

DE

0

0%

0

0%

0

Special regulated reserves

DF

0

0%

0

0%

69,284

Of which special reserve of provisions for current fluctuation

B1

0

0%

0

0%

0

Other reserves

DG

2,384,380

12.2 %

2,125,920

29.5 %

1,642,171

Of which reserve for buying originals works from alive artists

EJ

0

0%

0

0%

0

Profits or losses brought forward

DH

139,077

325.4 %

-61,700

0%

0

Profit or loss for the period

DI

200,967

-52.2 %

420,121

-9.5 %

464,465

Investment grants

DJ

0

0%

0

0%

0

Special tax-allowable reserves

DK

345,510

-37.1 %

549,423

0%

0

Other capital resources (II)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total provisions for risks and charges (Total III)

DR

64

-89.2 %

590

-99.2 %

78,383

Risk provisions

DP

64

-89.2 %

590

-97.3 %

21,715

Reserves for charges

DQ

0

0%

0

0%

56,668

 

Liabilities (IV)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total Liabilities (Total IV)

EC

5,784,669

13.3 %

5,107,113

5.1 %

4,857,886

Convertible debentures

DS

0

0%

0

0%

0

Other debentures

DT

0

0%

0

0%

0

Bank loans and liabilities

DU

2,789,524

34.7 %

2,071,317

3.9 %

1,993,576

Sundry loans and financial liabilities

DV

260,561

24.0 %

210,187

47.4 %

142,576

Of which participating loans

EI

0

0%

0

0%

0

Advance payments received for current orders

DW

4,979

0%

0

0%

0

Trade accounts payables

DX

1,584,732

1.0 %

1,569,528

23.3 %

1,273,348

Tax and social security liabilities

DY

1,127,450

-7.7 %

1,222,012

-12.3 %

1,393,902

Fixed asset liabilities

DZ

0

0%

1,256

0%

0

Other debts

EA

17,423

-46.9 %

32,812

-39.8 %

54,485

 

Translation loss (V)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Translation loss (Total V)

ED

3,748

374.4 %

790

-69.4 %

2,583

 

Equalization accounts

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Deferred income

EB

0

0%

0

0%

0

 

References

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Of which tax-allowable reserve

EF

0

0%

0

0%

69,284

Deferred income and liabilities

EG

4,090,763

3.9 %

3,937,031

16.4 %

3,382,549

Of which current bank facilities

EH

728,384

0%

0

0%

6,588

 

 

Result account

 

1 - Operating result (I-II)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Operating result (Total I-II)

GG

460,744

-43.0 %

808,563

-20.6 %

1,018,905

 

2 - Financial result (V-VI)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Financial result (Total V-VI)

GV

-128,028

1.0 %

-129,314

16.3 %

-154,573

 

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Pre-tax net operating income (Total I-II+II-IV+V-VI)

GW

332,716

-51.0 %

679,249

-21.4 %

864,332

 

4 - Extraordinary result (VII-VIII)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Extraordinary result (Total VII-VIII)

HI

-4,051

-121.3 %

19,032

84.4 %

10,323

 

Profit or loss

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Profit or loss

HN

200,967

-52.2 %

420,121

-9.5 %

464,465

 

Total Income (I+III+V+VII)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total Income (Total I+III+V+VII)

HL

14,092,948

-0.8 %

14,211,779

0.9 %

14,090,594

 

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

HM

13,891,982

0.7 %

13,791,658

1.2 %

13,626,129

 

Operating income (I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total operating income (Total I)

FR

14,058,687

-0.6 %

14,139,764

0.7 %

14,036,671

 

 

Operating income (details)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Sale of goods for resale

FC

3,816,701

-1.1 %

3,859,508

6.4 %

3,627,107

France

FA

3,163,471

50.8 %

2,097,594

11.1 %

1,887,950

Export

FB

653,230

-62.9 %

1,761,914

1.3 %

1,739,157

Sale of goods produced

FF

9,681,988

0.4 %

9,641,501

-0.6 %

9,700,350

France

FD

6,947,162

-1.8 %

7,072,641

-4.7 %

7,422,137

Export

FE

2,734,826

6.5 %

2,568,859

12.8 %

2,278,213

Sale of services

FI

219,842

2.8 %

213,925

6.2 %

201,393

France

FG

75,861

-4.9 %

79,731

-7.3 %

85,976

Export

FH

143,981

7.3 %

134,194

16.3 %

115,416

Net turnover

FL

13,718,530

0.0 %

13,714,934

1.4 %

13,528,849

France

FJ

10,186,493

10.1 %

9,249,966

-1.6 %

9,396,063

Export

FK

3,532,037

-20.9 %

4,464,968

8.0 %

4,132,786

Stocked production

FM

-6,955

-119.0 %

36,697

-77.5 %

163,306

Self-constructed assets

FN

239,994

-3.4 %

248,491

54.8 %

160,546

Operating grants

FO

0

0%

2,859

-47.1 %

5,405

Release of reserves and provisions

FP

89,678

-14.9 %

105,323

-39.2 %

173,222

Other income

FQ

17,440

-44.6 %

31,460

488.9 %

5,342

 

Operating charges (II)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total operating charges (Total II)

GF

13,597,943

2.0 %

13,331,201

2.4 %

13,017,766

 

Exploitation charges

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Purchase of goods for resale

FS

2,335,556

6.0 %

2,202,955

9.3 %

2,015,332

Change in stocks of goods for resale

FT

0

0%

0

0%

0

Purchase of raw materials

FU

2,165,068

-0.1 %

2,166,610

-0.2 %

2,170,110

Change in stocks of raw materials

FV

7,904

114.9 %

-52,941

-542.7 %

-8,237

Other external purchases and charges

FW

2,114,973

11.6 %

1,894,793

-0.4 %

1,902,993

Tax, duty and similar payments

FX

513,957

9.0 %

471,452

6.8 %

441,549

Payroll

FY

3,666,966

-1.0 %

3,702,435

3.1 %

3,590,162

Social security costs

FZ

1,601,440

-9.9 %

1,777,805

13.8 %

1,562,309

 

Depreciation

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Depreciation of fixed assets

GA

840,896

7.6 %

781,216

-5.2 %

824,461

Amortisation of fixed assets

GB

0

0%

0

0%

0

Depreciation/amortisation of current assets

GC

4,603

-73.1 %

17,118

-64.6 %

48,381

Provisions for risks and charges

GD

0

0%

0

0%

76,621

 

Other charges

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Other charges

GE

346,580

-6.3 %

369,759

-6.2 %

394,085

 

Operating charges (III-IV)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total financial income (Total V)

GP

25,247

44.0 %

17,538

1.8 %

17,226

Share financial income

GJ

0

0%

0

0%

0

Other investment income & capitalised receivables

GK

0

0%

0

0%

0

Other interest and similar income

GL

518

-70.2 %

1,741

-28.9 %

2,448

Released provisions and transferred charges

GM

590

-66.5 %

1,762

0%

0

Exchange gains

GN

24,139

72.0 %

14,035

-5.0 %

14,778

Net income from disposal of investment securities

GO

0

0%

0

0%

0

 

Financial charge (VI)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total financial charge (Total VI)

GU

153,276

4.4 %

146,852

-14.5 %

171,799

Financial reserves and provisions

GQ

64

-89.2 %

590

-66.5 %

1,762

Interest and similar charges

GR

145,132

6.7 %

136,071

-7.6 %

147,273

Exchange losses

GS

8,080

-20.7 %

10,190

-55.2 %

22,764

Net loss from disposal of investment securities

GT

0

0%

0

0%

0

 

Extraordinary income (VII)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total extraordinary income (Total VII)

HD

9,014

-83.5 %

54,478

48.5 %

36,697

Extraordinary operating income

HA

152

-84.5 %

981

0%

0

Extraordinary income from capital transactions

HB

1,000

-95.0 %

20,117

-45.2 %

36,697

Released provisions and transferred charges

HC

7,861

-76.4 %

33,380

0%

0

 

Extraordinary charges (VIII)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total extraordinary charges (Total VIII)

HH

13,064

-63.1 %

35,446

34.4 %

26,374

Extraordinary operating charges

HE

0

0%

0

0%

2,586

Extraordinary charges from capital transactions

HF

500

-94.0 %

8,284

-65.2 %

23,788

Extraordinary reserves and provisions

HG

12,564

-53.7 %

27,162

0%

0

 

Employee profit sharing (IX)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Employee profit sharing (Total IX)

HJ

22,654

-66.9 %

68,518

-35.1 %

105,507

 

Tax on profits (X)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Tax on profits (Total X)

HK

105,045

-49.9 %

209,642

-31.2 %

304,684

 

References

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Of which equipment leases

HP

4,019

-40.5 %

6,756

-54.9 %

14,981

Of which property leases

HQ

0

0%

0

0%

0

Of which transferred charges

A1

48,587

0%

0

0%

61,700

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

330,097

0%

0

0%

335,634

 

 

Other incomes tax return forms

 

Fixed Assets

Grand Total Fixed Assets (I to IV)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value at begin of period

OG

12,718,660

-0.2 %

12,749,461

0%

0

Increasess due to revaluation

OH

0

0%

0

0%

0

Decreasess, acquisitions, creations, contributions

OJ

1,107,895

0.4 %

1,103,447

22.4 %

901,786

Decreasess by budget item transfer

OK1

250,108

0.2 %

249,598

0%

0

Decreasess by transfers

OK2

272,637

-69.2 %

884,650

297.3 %

222,647

Gross value at the end of period

OL

13,303,809

4.6 %

12,718,660

0%

0

 

Research and development Charge (Total I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value at begin of period

KD

389,207

11.3 %

349,761

0%

0

Increasess due to revaluation

KE

0

0%

0

0%

0

Increasess, acquisitions, creations, contributions

KF

65,289

17.6 %

55,539

0%

0

Decreasess by budget item transfer

LV1

16,708

111.5 %

7,900

0%

0

Decreasess by transfers

LV2

20,786

153.7 %

8,194

0%

0

Gross value at the end of period

LW

417,002

7.1 %

389,207

0%

0

 

Tangible fixed assets (Total III)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value at begin of period

LN

12,312,911

-0.5 %

12,379,459

0%

0

Increasess due to revaluation

LO

0

0%

0

0%

0

Increasess, acquisitions, creations, contributions

LP

1,042,006

-0.5 %

1,047,278

19.8 %

874,543

Decreasess by budget item transfer

NG1

233,400

-3.4 %

241,698

0%

0

Decreasess by transfers

NG2

251,852

-71.1 %

872,128

0%

0

Gross value at the end of period

NH

12,869,665

4.5 %

12,312,911

0%

0

 

Financial assets (Total IV)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value at begin of period

LQ

16,542

-18.3 %

20,241

0%

0

Increasess due to revaluation

LR

0

0%

0

0%

0

Increasess, acquisitions, creations, contributions

LS

600

-4.8 %

630

0%

0

Decreasess by budget item transfer

NJ1

0

0%

0

0%

0

Decreasess by transfers

NJ2

0

0%

4,329

0%

0

Gross value at the end of period

NK

17,142

3.6 %

16,542

0%

0

 

 

Reserve for depreciation

 

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Reserve for depreciation value at begin of period

ON

8,129,078

-7.4 %

8,775,540

6.7 %

8,226,023

Increases

OP

840,897

7.6 %

781,215

4.6 %

746,549

Decreasess

OQ

272,138

-80.9 %

1,427,677

624.6 %

197,032

Reserve for depreciation value at the end of period

OR

8,697,837

7.0 %

8,129,078

-7.4 %

8,775,540

Research and development charge (Total I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Reserve for depreciation value at begin of period

PE

184,576

4.0 %

177,519

0%

0

Increases

PF

26,501

73.8 %

15,251

0%

0

Decreasess

PG

20,786

153.7 %

8,194

0%

0

Decreasess by budget item transfer

PH

190,291

3.1 %

184,576

4.0 %

177,519

 

Total fixed assets amotisation (Total III)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Reserve for depreciation value at begin of period

QU

7,944,502

-7.6 %

8,598,021

0%

0

Increases

QV

814,396

6.3 %

765,964

0%

0

Decreases

QW

251,352

-82.3 %

1,419,483

0%

0

Decreasess by budget item transfer

QX

8,507,546

7.1 %

7,944,502

-7.6 %

8,598,021

 

 

Movements during period affecting charge allocated over several period

 

Deferred charges and debt issuance costs

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value at begin of period

Z91

0

0%

61,700

0%

0

Increases

Z92

0

0%

0

0%

0

Depreciation of fixed assets during period

Z9

0

0%

61,700

-20.8 %

77,910

Decreasess by budget item transfer

B1

0

0%

0

0%

0

 

Premium refund of obligations

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Value at begining of period

7C

678,862

210.2 %

218,817

0%

0

Increases

UB

17,231

-97.1 %

600,510

0%

0

Decreases

UC

258,159

83.8 %

140,464

0%

0

Value at the end of period

UD

437,934

-35.5 %

678,862

0%

0

 

Includes Total allocations

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Operating

UE

4,603

-73.1 %

17,118

0%

0

Financial

UG

64

-89.2 %

590

0%

0

Exceptional

UJ

12,564

-53.7 %

27,162

0%

0

 

Includes Total Withdrawal

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Operating

UF

41,092

-61.0 %

105,323

-5.6 %

111,522

Financial

UH

590

-66.5 %

1,762

0%

0

Exceptional

UK

7,861

-76.4 %

33,380

0%

0

 

Total regulated provisions (Total I)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Value at begining of period

3Z

549,423

0%

0

0%

0

Increases

TS

12,564

-97.8 %

582,802

0%

0

Decreases

TT

216,477

548.5 %

33,379

0%

0

Value at the end of period

TU

345,510

-37.1 %

549,423

0%

0

 

Total risk and charge provisions (Total II)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Value at begining of period

5Z

590

-99.2 %

78,383

0%

0

Increases

TV

64

-89.2 %

590

0%

0

Decreases

TW

591

-99.2 %

78,383

0%

0

Value at the end of period

TX

64

-89.2 %

590

0%

0

 

Total Provision for depreciation (Total III)

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Value at begining of period

7B

128,849

-8.2 %

140,434

12.6 %

124,677

Increases

TY

4,603

-73.1 %

17,118

-64.6 %

48,381

Decreases

TZ

41,092

43.2 %

28,702

-12.0 %

32,624

Value at the end of period

UA

92,361

-28.3 %

128,849

-8.2 %

140,434

 

 

State deadlines claims and debts at the end of period

 

State claims

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Gross value

VT

3,400,379

21.7 %

2,793,093

8.8 %

2,568,169

1 year at most

VU

3,381,540

21.8 %

2,776,372

10.1 %

2,522,334

More than one year

VV

18,839

12.7 %

16,721

-63.5 %

45,835

 

State of loans

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

6,981

9.4 %

6,381

0%

0

Other financial assets (1 year at most)

UV

0

0%

0

0%

0

 

Receivables statement of assets

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Customers doubtful or disputed

VA

11,858

14.7 %

10,340

-71.1 %

35,755

Other claims customer

UX

3,128,304

20.3 %

2,601,124

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

4,000

471.4 %

700

0%

0

Social Security and other social organizations

UZ

0

0%

0

0%

0

Income taxes

VM

85,170

-15.0 %

100,249

0%

0

Value added tax

VB

46,747

19.1 %

39,242

-28.5 %

54,908

Other taxes and payments assimilated

VN

0

0%

0

0%

0

State and other public - Miscellaneous

VP

15,247

0%

0

0%

0

Group and Associates

VC

12,025

36.8 %

8,787

0%

0

Accounts receivable (including claims relating to the operation of pension titles)

VR

62,198

2308.0 %

2,583

0%

0

 

Prepaid

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Prepaid

VS

27,849

17.6 %

23,685

0%

0

 

State Debt

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Total debt (gross)

VY

5,779,690

13.2 %

5,107,112

5.1 %

4,857,886

1 year at most

VZ2

4,085,785

3.8 %

3,937,031

16.4 %

3,382,549

More than 1 year and 5 years at most

VZ3

1,693,905

68.4 %

1,005,997

-9.3 %

1,109,087

More than 5 years

VZ4

0

0%

164,084

-55.2 %

366,250

 

Details

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

739,646

29.5 %

571,161

0%

0

1 year at most

VG2

739,646

29.5 %

571,161

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

2,049,878

36.6 %

1,500,156

-24.8 %

1,993,576

1 year at most

VH2

355,973

-30.4 %

511,563

-10.4 %

570,995

More than 1 year and 5 years at most

VH3

1,693,905

68.4 %

1,005,997

0%

0

Loans and various financial liabilities (gross)

8A1

248,682

27.6 %

194,898

0%

0

1 year at most

8A2

248,682

27.6 %

194,898

53.1 %

127,287

More than 1 year and 5 years at most

8A3

0

0%

0

0%

0

Suppliers and associated accounts (gross)

8B1

1,584,732

1.0 %

1,569,528

0%

0

1 year at most

8B2

1,584,732

1.0 %

1,569,528

23.3 %

1,273,348

More than 1 year and 5 years at most

8B3

0

0%

0

0%

0

Personnel and associated accounts (gross)

8C1

398,928

-22.0 %

511,563

-10.4 %

570,995

1 year at most

8C2

398,928

-22.0 %

511,563

-10.4 %

570,995

More than 1 year and 5 years at most

8C3

0

0%

0

0%

0

Social Security and other social organizations (gross)

8D1

618,464

-5.7 %

656,074

10.9 %

591,579

1 year at most

8D2

618,464

-5.7 %

656,074

10.9 %

591,579

More than 1 year and 5 years at most

8D3

0

0%

0

0%

0

Taxes on profits (gross)

8E1

52,153

0%

0

0%

0

1 year at most

8E2

52,153

0%

0

0%

166,362

More than 1 year and 5 years at most

8E3

0

0%

0

0%

0

VAT (Gross)

VW1

22,285

19.9 %

18,590

-63.9 %

51,444

1 year at most

VW2

22,285

19.9 %

18,590

-63.9 %

51,444

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

35,620

-0.5 %

35,786

164.7 %

13,522

1 year at most

VQ2

35,620

-0.5 %

35,786

164.7 %

13,522

More than 1 year and 5 years at most

VQ3

0

0%

0

0%

0

Assets and liabilities associated accounts (gross)

8J1

0

0%

1,256

0%

0

1 year at most

8J2

0

0%

1,256

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

11,879

-22.3 %

15,289

0%

15,289

1 year at most

VI2

11,879

-22.3 %

15,289

0%

15,289

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

17,423

-46.9 %

32,812

0%

0

1 year at most

8K2

17,423

-46.9 %

32,812

-39.8 %

54,485

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Loans made during the period

VJ

900,000

0%

0

0%

0

Debt repaid during the period

VK

350,278

-28.0 %

486,831

0%

0

 

 

 

Table allocation results and other information

 

Dividends distributed

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Dividends

ZE

0

0%

0

0%

0

 

Commitments

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Commitments leasing furniture

YQ

255

-94.4 %

4,517

-39.0 %

7,408

Commitments Real Estate Leasing

YR

0

0%

0

0%

0

Effects brought to the discount and unmatured

YS

0

0%

223,839

0%

0

 

Other charges Externes

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

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

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Average number of employees

YP

199

-2.5 %

204

-4.2 %

213

 

Groups and Shareholders

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

Groups and Shareholders

ZR

-

-

-

-

-

 

 

Ratios

 

Structure and Liquidity

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Fixed Asset Financing

1.11

0%

1.11

2.8 %

1.08

1.53

-27.5 %

Global Debt

152 days

13.4 %

134 days

3.9 %

129 days

130 days

16.9 %

Working Capital Fund overall net

37 days

2.8 %

36 days

28.6 %

28 days

70 days

-47.1 %

Financial independence

121.44 %

-24.5 %

160.76 %

22.2 %

131.54 %

217.78 %

-44.2 %

Solvability

39.02 %

-6.6 %

41.79 %

15.3 %

36.26 %

38.77 %

0.6 %

Capacity debt futures

338.07 %

-0.2 %

338.75 %

-31.2 %

492.11 %

1,063.37 %

-68.2 %

Coverage of current assets by net working capital overall

28.68 %

-9.5 %

31.70 %

16.5 %

27.21 %

39.82 %

-28.0 %

General Liquidity

0.83

16.9 %

0.71

-5.3 %

0.75

0.83

0%

Restricted Liquidity

0.89

17.1 %

0.76

0%

0.76

1.16

-23.3 %

 

Management or rotation

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Need background in operating working capital

49 days

63.3 %

30 days

25.0 %

24 days

33 days

48.5 %

Treasury

-12 days

-340.0 %

5 days

400.0 %

1 days

13 days

-192.3 %

Inventory turnover of goods

0 days

0%

0 days

0%

0 days

3 days

0%

Average length of credit granted to customers

82 days

10.8 %

74 days

12.1 %

66 days

81 days

1.2 %

Average length of credit obtained suppliers

86 days

-5.5 %

91 days

21.3 %

75 days

84 days

2.4 %

Inventory turnover of raw materials in industrial enterprises

65 days

35.4 %

48 days

11.6 %

43 days

60 days

8.3 %

Inventory turnover of intermediate and finished products in the industrial enterprise

107 days

-3.6 %

111 days

-

-

362 days

-70.4 %

Rotation tangible assets

106.60 %

-4.3 %

111.39 %

-

-

377.25 %

-71.7 %

 

Profitability of the business

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Margin trading

10.80 %

-10.6 %

12.08 %

1.4 %

11.91 %

0.00 %

0%

Profitability of the business

11.27 %

-16.0 %

13.42 %

-16.9 %

16.14 %

7.19 %

56.7 %

Net profit

1.46 %

-52.3 %

3.06 %

-10.8 %

3.43 %

3.09 %

-52.8 %

Growth rate of turnover (excluding VAT)

0.03 %

-97.8 %

1.38 %

-78.6 %

6.46 %

3.45 %

-99.1 %

Rates integration

53.42 %

-5.9 %

56.79 %

-1.1 %

57.45 %

42.87 %

24.6 %

Rate leasing furniture

0.03 %

-40.0 %

0.05 %

-54.5 %

0.11 %

0.00 %

0%

Work Factor

71.89 %

2.2 %

70.36 %

6.1 %

66.29 %

74.49 %

-3.5 %

Weight interests

1.12 %

4.7 %

1.07 %

-15.7 %

1.27 %

0.54 %

107.4 %

 

Return on capital

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Cash flow from the overall profitability

7.32 %

-6.8 %

7.85 %

-8.9 %

8.62 %

5.68 %

28.9 %

Rates of economic profitability

23.00 %

-25.8 %

31.00 %

-29.5 %

44.00 %

20.00 %

15.0 %

Financial profitability

3,703,917.00 %

1.0 %

3,667,746.00 %

30.5 %

2,809,902.00 %

143,955.00 %

2473.0 %

Return on investment

5.24 %

-45.0 %

9.53 %

-25.9 %

12.86 %

11.09 %

-52.8 %

 

Management intermediate balances

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Turnover

13,718,530

0.0 %

13,714,934

1.4 %

13,528,849

697,510

1866.8 %

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Sales of goods

3,816,701

-1.1 %

3,859,508

6.4 %

3,627,107

-

- Purchase of goods

2,335,556

6.0 %

2,202,955

9.3 %

2,015,332

-

+/- Stock of goods variation

0

0%

0

0%

0

-

Trading margin

1,481,145 €

-10.6 %

1,656,553 €

2.8 %

1,611,775 €

0 €

0%

10.80 % CA

-10.6 %

12.08 % CA

1.4 %

11.91 % CA

0.00 % CA

0%

 

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Sale of goods produced

9,901,830

0.5 %

9,855,426

-0.5 %

9,901,743

-

+/- Stocked production

-6,955

-119.0 %

36,697

-77.5 %

163,306

-

+ Self-constructed assets

239,994

-3.4 %

248,491

54.8 %

160,546

-

Period production

10,134,869 €

-0.1 %

10,140,614 €

-0.8 %

10,225,595 €

617,541 €

1541.2 %

73.88 % CA

-0.1 %

73.94 % CA

-2.2 %

75.58 % CA

100.00 % CA

-26.1 %

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Trading margin

1,481,145

-10.6 %

1,656,553

2.8 %

1,611,775

0

0%

+ Period Production

10,134,869

-0.1 %

10,140,614

-0.8 %

10,225,595

617,541

1541.2 %

- Purchase of raw materials

2,165,068

-0.1 %

2,166,610

-0.2 %

2,170,110

-

+/- Change in stocks of raw materiels

7,904

114.9 %

-52,941

-542.7 %

-8,237

-

- Other external purchases and charges

2,114,973

11.6 %

1,894,793

-0.4 %

1,902,993

-

Added value

7,328,069 €

-5.9 %

7,788,705 €

0.2 %

7,772,504 €

323,124 €

2167.9 %

53.42 % CA

-5.9 %

56.79 % CA

-1.1 %

57.45 % CA

42.87 % CA

24.6 %

 

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Added value

7,328,069 €

-5.9 %

7,788,705 €

0.2 %

7,772,504 €

323,124 €

2167.9 %

+ Operating grants

0

0%

2,859

-47.1 %

5,405

-

- Tax, duty and similar payments

513,957

9.0 %

471,452

6.8 %

441,549

-

- Personal charges

5,268,406

-3.9 %

5,480,240

6.4 %

5,152,471

-

Gross operating surplus

1,545,706 €

-16.0 %

1,839,872 €

-15.8 %

2,183,889 €

45,388 €

3305.5 %

11.27 % CA

-16.0 %

13.42 % CA

-16.9 %

16.14 % CA

7.19 % CA

56.7 %

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Gross operating surplus

1,545,706 €

-16.0 %

1,839,872 €

-15.8 %

2,183,889 €

45,388 €

3305.5 %

+ Release of reserves and provisions

89,678

-14.9 %

105,323

-39.2 %

173,222

-

+ Other operating income

17,440

-44.6 %

31,460

488.9 %

5,342

-

- Depreciation/ Amortisation

845,499

5.9 %

798,334

-15.9 %

949,463

-

- Other charges

346,580

-6.3 %

369,759

-6.2 %

394,085

-

Operating result

460,745 €

-43.0 %

808,562 €

-20.6 %

1,018,905 €

29,208 €

1477.5 %

3.36 % CA

-43.1 %

5.90 % CA

-21.6 %

7.53 % CA

4.25 % CA

-20.9 %

 

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Operating result

460,745 €

-43.0 %

808,562 €

-20.6 %

1,018,905 €

29,208 €

1477.5 %

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

0

0%

0

0%

0

-

+ Financial income

25,247

44.0 %

17,538

1.8 %

17,226

-

- Financial charges

153,276

4.4 %

146,852

-14.5 %

171,799

-

Pre-tax result

332,716 €

-51.0 %

679,248 €

-21.4 %

864,332 €

25,216 €

1219.5 %

2.43 % CA

-50.9 %

4.95 % CA

-22.5 %

6.39 % CA

3.76 % CA

-35.4 %

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Extraordinary income

9,014

-83.5 %

54,478

48.5 %

36,697

1,906

372.9 %

- Extraordinary charges

13,064

-63.1 %

35,446

34.4 %

26,374

-

Extraordinary result

-4,050 €

-121.3 %

19,032 €

84.4 %

10,323 €

0 €

0%

-0.03 % CA

-121.4 %

0.14 % CA

75.0 %

0.08 % CA

0.00 % CA

0%

 

31/12/2006

Variation

31/12/2005

Variation

31/12/2004

SECTOR MEDIAN 2006

Pre-tax result

332,716 €

-51.0 %

679,248 €

-21.4 %

864,332 €

25,216 €

1219.5 %

Extraordinary result

-4,050 €

-121.3 %

19,032 €

84.4 %

10,323 €

0 €

0%

- Employee profit sharing

22,654

-66.9 %

68,518

-35.1 %

105,507

-

- Tax on profits

105,045

-49.9 %

209,642

-31.2 %

304,684

-

Net result

200,967 €

-52.2 %

420,120 €

-9.5 %

464,464 €

22,323 €

800.3 %

1.46 % CA

-52.3 %

3.06 % CA

-10.8 %

3.43 % CA

3.09 % CA

-52.8 %

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.14

Euro

1

Rs.71.97

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

TRU

 


 

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.