MIRA INFORM REPORT

Report No. :	302966
Report Date :	19.01.2015

IDENTIFICATION DETAILS

Name :	ETABLISSEMENTS GINDRE DUCHAVANY
Registered Office :	131 Rue De Crequi 69006 Lyon 6EME
Country :	France
Financials (as on) :	31.12.2011
Date of Incorporation :	06/1955
Com. Reg. No.:	5 955 508 817
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Copper production (2444Z)
No. of Employee :	200 to 249 Employees

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

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

FRANCE ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

company summary

		EUR VAT Number	FR20955508817
Activity (APE)	Copper production (2444Z)	Legal form	Simplified Joint Stock Company with Single Associate
Phone	04 72 46 09 00	RCS Registration	RCS Lyon 5 955 508 817
Fax	04 78 32 66 55	Share capital	7,989,600 Euros
Address	ETABLISSEMENTS GINDRE DUCHAVANY 131 RUE DE CREQUI 69006 LYON 6EME	Incorporated Date	06/1955
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	3
Total number of Invoices paid within or up to 30 days after the due date	0
Total number of Invoices paid more than 30 days after the due date	0
Total number of Invoices currently outstanding where the due date has not yet been reached	3
Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number	Click here to view the affiliation links
M.U.S.T PRIVATSTIFTUNG	-	103 companies in 25 countries. Click here to visit linked companies

Current Directors

2

Trading to Date	12/31/2011	12/31/2010	12/31/2009
Turnover	310,633,050 €	259,952,067 €	164,074,718 €
Gross Operating Surplus	0.87 % Turnover	4.13 % Turnover	5.97 % Turnover
Shareholders’ equity	28,153,072 €	29,460,493 €	26,512,714 €
Net result	2,689,979 €	3,447,905 €	7,877,415 €
Employees	200 to 249 employees	-	-

Trends
Profitability
Liquidity
Net worth

Company details

Activity (APE)	Copper production (2444Z)
RCS Registration	RCS Lyon 5 955 508 817	Share capital	7,989,600 Euros
Registration Court	Lyon (69)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	19 5 5B00881	EUR VAT Number	FR20955508817
Incorporation Date	06/1955	Formation Date	01/1955
Deregistration Date		Last account Date	31/12/2011
Nationality	France

Establishment details

Activity (APE)	Copper production (2444Z)	Business Pages FT®	METAUX NON FERREUX ET ALLIAGES (PRODUCTION, TRANSFORMATION, NEGOCE)
Postal Address	ETABLISSEMENTS GINDRE DUCHAVANY 131 RUE DE CREQUI 69006 LYON 6EME	Trading Address	131 RUE DE CREQUI 69006 LYON 6EME
Telephone	04 72 46 09 00
Fax	04 78 32 66 55

Type	Head office	Status	Economically active
Formation Date	09/1994	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Rhône (69)	Region	Rhône-Alpes
District	1	Area	99
City	LYON 6EME	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company GINDRE DUCHAVANY Giffard BP 23-38231, 31 Pont De Cheruy, France
Head office	> ETABLISSEMENTS GINDRE DUCHAVANY <<<  - Métallurgie du cuivre (2444Z)  in LYON 6EME  (69006)
Secondary establishments	>  ETABLISSEMENTS GINDRE DUCHAVANY  - Métallurgie du cuivre (2444Z)  in PONT DE CHERUY  (38230)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

0 employee

Company workforce

200 to 249 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2011	31/12/2010	31/12/2009
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	10/05/2012	27/05/2011	24/06/2010
Activity Code	2444Z	2444Z	2444Z
Employees	0	0	0

Active account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	17,457,195	-0.2%	17,484,122	6.0%	16,488,746	1,904,603	816.6%
- Intangible assets	206,953	25.2%	165,359	7.0%	154,584	16,193.50	1178.0%
- Tangible assets	9,764,190	-0.3%	9,798,409	-1.5%	9,943,587	1,092,732	793.6%
- Financial assets	7,486,052	-0.5%	7,520,354	17.7%	6,390,575	42,402.50	17554.7%
Net current assets	59,344,247	-11.3%	66,882,275	48.2%	45,144,238	5,618,954	956.1%
- Stocks	34,366,918	-19.9%	42,908,917	63.9%	26,176,730	2,064,784	1564.4%
- Advanced payments	0	-11.3%	0	0%	0	0	0%
- Receivables	24,563,533	4.2%	23,584,154	30.9%	18,010,874	1,487,686	1551.1%
- Securities and cash	413,796	6.3%	389,204	-59.3%	956,634	538,347.50	-23.1%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	30,783	199.3%	10,285	-62.1%	27,130	0	0%
Total Assets	76,832,225	-8.9%	84,376,682	36.8%	61,660,114	6,068,565	1166.1%

Passive Account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Shareholders' equity	28,153,072	-4.4%	29,460,493	11.1%	26,512,714	4,080,899	589.9%
Share capital	7,989,600	0%	7,989,600	0%	7,989,600	1,654,250	383.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	294,143	-78.7%	1,383,646	13.4%	1,219,695	287,404.50	2.3%
Liabilities	48,281,924	-9.6%	53,401,523	57.4%	33,926,959	6,485,170	644.5%
- Financial liabilities	16,750,927	-11.2%	18,859,027	218.5%	5,921,020	880,908.50	1801.6%
- Advanced payments received	671,458	0%	0	0%	0	0	0%
- Trade account payables	20,904,507	-20.2%	26,192,532	34.8%	19,432,153	521,222.50	3910.7%
- Tax and social liabilities	4,358,594	4.8%	4,159,105	-28.1%	5,786,329	693,900	528.1%
- Other debts and fixed assets liabilities	2,264,929	618.4%	315,294	-20.1%	394,366	318,075	612.1%
Account regularization	3,434,596	-14.3%	4,006,584	67.4%	2,393,835	0	0%
Total liabilities	76,832,226	-8.9%	84,376,681	36.8%	61,660,112	6,068,563.50	1166.1%

Results

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Sales of Goods	304,336,214	13.0%	269,420,751	58.5%	170,019,881	9,480,574.50	3110.1%
Net turnover	310,633,050	19.5%	259,952,067	58.4%	164,074,718	9,489,390	3173.5%
- of which net export turnover	228,501,103	22.4%	186,666,498	60.8%	116,079,245	3,879,113.50	5790.5%
Operating charges	302,628,860	16.6%	259,448,421	60.5%	161,695,172	9,404,497	3117.9%
Operating profit/loss	1,707,354	-82.9%	9,972,330	19.8%	8,324,709	10,178.50	16674.1%
Financial income	963,749	-49.5%	1,910,196	-54.1%	4,160,854	52,840.50	1723.9%
Financial charges	1,272,192	-65.2%	3,650,643	49.3%	2,445,495	193,649.50	557.0%
Financial profit/loss	-308,443	82.3%	-1,740,447	-201.5%	1,715,359	-53,032	-481.6%
Pretax net operating income	1,398,911	-83.0%	8,231,883	-18.0%	10,040,068	19,901	6929.4%
Extraordinary income	2,691,477	-65.0%	7,698,696	1157.5%	612,203	474,505	467.2%
Extraordinary charges	95,125	-99.1%	10,964,228	12908.5%	84,285	138,281	-31.2%
Extraordinary profit/loss	2,596,352	179.5%	-3,265,532	-718.6%	527,918	12,102	21353.9%
Net result	2,689,979	-22.0%	3,447,905	-56.2%	7,877,415	126,228.50	2031.0%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2011	31/12/2010	31/12/2009
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2011		31/12/2010		31/12/2009
	Grand Total (I to VI)	Net	76,832,225	-8.9%	84,376,682	36.8%	61,660,114
	Gross	CO	96,504,685	-6.1%	102,750,571	29.9%	79,115,477
	Amortisation	1A	19,672,460	7.1%	18,373,889	5.3%	17,455,363

Non declared distributed capital (I)

		31/12/2011		31/12/2010		31/12/2009
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2011		31/12/2010		31/12/2009
	Total Active fixed asset (II)	Net	17,457,195	-0.2%	17,484,122	6.0%	16,488,746
	Gross	BJ	36,658,087	2.5%	35,772,226	5.6%	33,863,478
	Amortisation	BK	19,200,892	5.0%	18,288,104	5.3%	17,374,732

Intangilble fixed assets

			31/12/2011		31/12/2010		31/12/2009
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	206,953	25.2%	165,359	7.0%	154,584
	Gross	AF	1,697,936	11.2%	1,526,514	9.7%	1,391,531
	Amortisation	AG	1,490,983	9.5%	1,361,155	10.0%	1,236,947
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	206,953	25.2%	165,359	7.0%	154,584

Tangilble fixed assets

			31/12/2011		31/12/2010		31/12/2009
	Lands	Net	569,583	0%	569,583	0%	569,583
	Gross	AN	569,583	0%	569,583	0%	569,583
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	5,819,102	-4.3%	6,082,727	-4.9%	6,393,616
	Gross	AP	9,833,542	1.1%	9,727,376	0.7%	9,661,204
	Amortisation	AQ	4,014,440	10.1%	3,644,649	11.5%	3,267,588
	Plant	Net	2,103,645	1.8%	2,067,289	11.8%	1,848,271
	Gross	AR	10,318,378	3.4%	9,977,605	5.0%	9,505,465
	Amortisation	AS	8,214,733	3.8%	7,910,316	3.3%	7,657,194
	Other tangible fixed assets	Net	831,435	-2.0%	848,576	-6.6%	908,062
	Gross	AT	5,093,241	1.8%	5,001,630	2.0%	4,902,135
	Amortisation	AU	4,261,806	2.6%	4,153,054	4.0%	3,994,073
	Fixed assets in construction	Net	440,425	91.3%	230,234	2.8%	224,055
	Gross	AV	440,425	91.3%	230,234	2.8%	224,055
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	9,764,190		9,798,409		9,943,587

Financial assets

			31/12/2011		31/12/2010		31/12/2009
	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	4,502,536	4.6%	4,303,442	4.9%	4,103,442
	Gross	CU	5,721,466	3.6%	5,522,372	3.8%	5,322,372
	Amortisation	CV	1,218,930	0%	1,218,930	0%	1,218,930
	Inter-company receivables	Net	470,266	22.1%	385,000	0%	0
	Gross	BB	470,266	22.1%	385,000	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	414,367	9.3%	379,168	5.4%	359,758
	Gross	BF	414,367	0%	379,168	0%	359,758
	Amortisation	BG	0		0		0
	Other financial assets	Net	2,098,883	-14.4%	2,452,744	27.3%	1,927,375
	Gross	BH	2,098,883	-14.4%	2,452,744	27.3%	1,927,375
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		7,486,052		7,520,354		6,390,575

Current Assets (III)

			31/12/2011		31/12/2010		31/12/2009
	Total Assets	Net	59,344,247	-11.3%	66,882,275	48.2%	45,144,238
	Gross	CJ	59,815,815	-10.7%	66,968,060	48.1%	45,224,869
	Amortisation	CK	471,568	449.7%	85,785	6.4%	80,631

Stocks

			31/12/2011		31/12/2010		31/12/2009
	Raw materials	Net	12,779,784	-12.3%	14,568,558	110.3%	6,926,363
	Gross	BL	13,023,955	-10.6%	14,568,558	110.3%	6,926,363
	Amortisation	BM	244,171	0%	0	0%	0
	Work in progress (goods)	Net	3,111,237	-10.0%	3,456,047	19.4%	2,893,631
	Gross	BN	3,111,237	-10.0%	3,456,047	19.4%	2,893,631
	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	18,475,897	-25.8%	24,884,312	52.1%	16,356,736
	Gross	BR	18,475,897	-25.8%	24,884,312	52.1%	16,356,736
	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	34,366,918	-19.9%	42,908,917	63.9%	26,176,730

Advance payments to suppliers

			31/12/2011		31/12/2010		31/12/2009
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2011		31/12/2010		31/12/2009
	Trade accounts receivable	Net	18,312,055	20.8%	15,159,168	13.7%	13,334,341
	Gross	BX	18,423,988	20.9%	15,244,953	13.6%	13,414,972
	Amortisation	BY	111,933	30.5%	85,785	6.4%	80,631
	Other debtors	Net	5,912,973	-27.8%	8,188,917	88.3%	4,347,918
	Gross	BZ	6,028,437	-26.4%	8,188,917	88.3%	4,347,918
	Amortisation	CA	115,464	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	24,225,028	3.8%	23,348,085	32.0%	17,682,259

Divers

			31/12/2011		31/12/2010		31/12/2009
	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	413,796	6.3%	389,204	-59.3%	956,634
	Gross	CF	413,796	6.3%	389,204	-59.3%	956,634
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	413,796	6.3%	389,204	-59.3%	956,634

Prepaid expenses

			31/12/2011		31/12/2010		31/12/2009
	Prepaid expenses	Net	338,505	43.4%	236,069	-28.2%	328,615
	Gross	CH	338,505	43.4%	236,069	-28.2%	328,615
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2011		31/12/2010		31/12/2009
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	30,783	199.3%	10,285	-62.1%	27,130
Gross		30,783	199.3%	10,285	-62.1%	27,130

References

		31/12/2011		31/12/2010		31/12/2009
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2011		31/12/2010		31/12/2009
Grand Total (I to V)	EE	76,832,226	-8.9%	84,376,681	36.8%	61,660,112

Shareholder Equity (I)

			31/12/2011		31/12/2010		31/12/2009
	Total shareholders' equity (Total I)	DL	28,153,072	-4.4%	29,460,493	11.1%	26,512,714
	Equity and shareholders' equity	DA	7,989,600	0%	7,989,600	0%	7,989,600
	Issue and merger premiums	DB	2,512,253	0%	2,512,253	0%	2,512,253
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	798,960	0%	0	0%	640,021
	Statutory or contractual reserve	DE	0	0%	798,960	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	418,151	0%	418,151	0%	418,151
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	5,077,194	40.0%	3,626,689	4056.6%	-91,661
	Profit or loss for the period	DI	2,689,979	-22.0%	3,447,905	-56.2%	7,877,415
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	8,666,935	-18.7%	10,666,935	48.8%	7,166,935

Other capital resources (II)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Total provisions for risks and charges (Total III)	DR	294,143	-78.7%	1,383,646	13.4%	1,219,695
	Risk provisions	DP	294,143	-78.7%	1,383,646	13.8%	1,215,982
	Reserves for charges	DQ	0	0%	0	0%	3,713

Liabilities (IV)

			31/12/2011		31/12/2010		31/12/2009
	Total Liabilities (Total IV)	EC	48,281,924	-9.6%	53,401,523	57.4%	33,926,959
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	16,200,694	-11.7%	18,356,822	233.3%	5,507,396
	Sundry loans and financial liabilities	DV	550,233	9.6%	502,205	21.4%	413,624
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	671,458	0%	0	0%	0
	Trade accounts payables	DX	20,904,507	-20.2%	26,192,532	34.8%	19,432,153
	Tax and social security liabilities	DY	4,358,594	4.8%	4,159,105	-28.1%	5,786,329
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	2,161,842	1073.2%	184,275	-53.2%	393,622

Translation loss (V)

		31/12/2011		31/12/2010		31/12/2009
Translation loss (Total V)	ED	103,087	-21.3%	131,019	17510.1%	744

Equalization accounts

		31/12/2011		31/12/2010		31/12/2009
Deferred income	EB	3,434,596	-14.3%	4,006,584	67.4%	2,393,835

References

		31/12/2011		31/12/2010		31/12/2009
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	32,268,730
Of which current bank facilities	EH	1,901,017	0%	0	0%	26,178

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		31/12/2011		31/12/2010		31/12/2009
Operating result (Total I-II)	GG	1,707,354	-82.9%	9,972,330	19.8%	8,324,709

2 - Financial result (V - VI)

		31/12/2011		31/12/2010		31/12/2009
Financial result (Total V-VI)	GV	-308,443	82.3%	-1,740,447	-201.5%	1,715,359

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

		31/12/2011		31/12/2010		31/12/2009
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1,398,911	-83.0%	8,231,883	-18.0%	10,040,068

4 - Extraordinary result (VII-VIII)

		31/12/2011		31/12/2010		31/12/2009
Extraordinary result (Total VII-VIII)	HI	2,596,352	179.5%	-3,265,532	-718.6%	527,918

Profit or loss

		31/12/2011		31/12/2010		31/12/2009
Profit or loss	HN	2,689,979	-22.0%	3,447,905	-56.2%	7,877,415

Total Income (I+III+V+VII)

		31/12/2011		31/12/2010		31/12/2009
Total Income (I+III+V+VII)	HL	307,991,440	10.4%	279,029,643	59.6%	174,792,938

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

		31/12/2011		31/12/2010		31/12/2009
Total charges (Total II+IV+VI+VIII+IX+X)	HM	305,301,463	10.8%	275,581,742	65.1%	166,915,523

Operating income (I)

		31/12/2011		31/12/2010		31/12/2009
Total operating income (Total I)	FR	304,336,214	13.0%	269,420,751	58.5%	170,019,881

Operating income (details)

			31/12/2011		31/12/2010		31/12/2009
	Sale of goods for resale	FC	762,603	148.5%	306,852	-57.3%	718,140
	France	FA	276,044	105.4%	134,417	-77.2%	590,527
	Export	FB	486,559	182.2%	172,435	35.1%	127,613
	Sale of goods produced	FF	308,131,406	19.5%	257,889,543	59.7%	161,481,298
	France	FD	81,009,221	12.1%	72,276,663	55.5%	46,486,444
	Export	FE	227,122,185	22.4%	185,612,880	61.4%	114,994,854
	Sale of services	FI	1,739,041	-0.9%	1,755,672	-6.4%	1,875,279
	France	FG	846,682	-3.2%	874,489	-4.8%	918,501
	Export	FH	892,359	1.3%	881,183	-7.9%	956,778
	Net turnover	FL	310,633,050	19.5%	259,952,067	58.4%	164,074,718
	France	FJ	82,131,947	12.1%	73,285,569	52.7%	47,995,472
	Export	FK	228,501,103	22.4%	186,666,498	60.8%	116,079,245
	Stocked production	FM	-6,753,225	-174.3%	9,089,992	69.6%	5,358,640
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	1,844	-88.9%	16,612	0%	0
	Release of reserves and provisions	FP	440,431	30.1%	338,538	-40.8%	572,229
	Other income	FQ	14,114	-40.0%	23,542	64.7%	14,294

Operating charges (II)

		31/12/2011		31/12/2010		31/12/2009
Total operating charges (Total II)	GF	302,628,860	16.6%	259,448,421	60.5%	161,695,172

Exploitation charges

		31/12/2011		31/12/2010		31/12/2009
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	250,189,926	14.2%	218,995,016	80.5%	121,317,240
Change in stocks of raw materials	FV	1,544,603	120.2%	-7,642,195	-306.2%	-1,881,279
Other external purchases and charges	FW	35,916,425	5.8%	33,954,853	23.2%	27,559,149
Tax, duty and similar payments	FX	1,356,852	-8.6%	1,484,023	-13.0%	1,706,354
Payroll	FY	8,399,905	10.3%	7,618,767	3.1%	7,388,281
Social security costs	FZ	3,782,500	-3.4%	3,916,506	10.6%	3,540,454

Depreciation

		31/12/2011		31/12/2010		31/12/2009
Depreciation of fixed assets	GA	1,036,670	1.4%	1,022,613	9.1%	937,477
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	393,225	1347.9%	27,159	-57.9%	64,535
Provisions for risks and charges	GD	7,227	-85.4%	49,389	-95.3%	1,058,210

Other charges

		31/12/2011		31/12/2010		31/12/2009
Other charges	GE	1,527	-93.1%	22,290	369.4%	4,749

Operating charges (III-IV)

		31/12/2011		31/12/2010		31/12/2009
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)

			31/12/2011		31/12/2010		31/12/2009
	Total financial income (Total V)	GP	963,749	-49.5%	1,910,196	-54.1%	4,160,854
	Share financial income	GJ	116	-100.0%	1,152,797	8.1%	1,066,766
	Other investment income & capitalised receivables	GK	16,205	174.8%	5,898	0%	0
	Other interest and similar income	GL	82,429	-9.2%	90,818	-41.0%	153,986
	Released provisions and transferred charges	GM	810,981	23.7%	655,748	-23.7%	859,442
	Exchange gains	GN	54,018	994.6%	4,935	-99.8%	2,080,660
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2011		31/12/2010		31/12/2009
	Total financial charge (Total VI)	GU	1,272,192	-65.2%	3,650,643	49.3%	2,445,495
	Financial reserves and provisions	GQ	47,588	-94.1%	810,981	2889.2%	27,130
	Interest and similar charges	GR	1,202,494	-57.7%	2,839,660	170.3%	1,050,441
	Exchange losses	GS	22,110	1105400%	02	-100.0%	1,367,924
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2011		31/12/2010		31/12/2009
	Total extraordinary income (Total VII)	HD	2,691,477	-65.0%	7,698,696	1157.5%	612,203
	Extraordinary operating income	HA	620,932	141.0%	257,598	-55.3%	576,894
	Extraordinary income from capital transactions	HB	70,545	-73.9%	270,450	666.0%	35,309
	Released provisions and transferred charges	HC	2,000,000	-72.1%	7,170,648	0%	0

Extraordinary charges (VIII)

			31/12/2011		31/12/2010		31/12/2009
	Total extraordinary charges (Total VIII)	HH	95,125	-99.1%	10,964,228	12908.5%	84,285
	Extraordinary operating charges	HE	12,343	-23.8%	16,190	-50.7%	32,828
	Extraordinary charges from capital transactions	HF	82,782	-70.6%	281,103	488.8%	47,744
	Extraordinary reserves and provisions	HG	0	0%	10,666,935	287186.2%	3,713

Employee profit sharing (IX)

		31/12/2011		31/12/2010		31/12/2009
Employee profit sharing (Total IX)	HJ	328,969	29.4%	254,223	-50.9%	517,657

Tax on profits (X)

		31/12/2011		31/12/2010		31/12/2009
Tax on profits (Total X)	HK	976,317	-22.8%	1,264,227	-41.8%	2,172,914

References

		31/12/2011		31/12/2010		31/12/2009
Of which equipment leases	HP	532,020	0%	0	0%	814,156
Of which property leases	HQ	123,339	0%	0	0%	123,339
Of which transferred charges	A1	99,652	0%	0	0%	422,655
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2011		31/12/2010		31/12/2009
	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%	462,280
	Decreasess by transfers	OK2	0	0%	0	0%	3,985,406
	Gross value at the end of period	OL	0	0%	0	0%	33,863,479

Research and development Charge (Total I)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	KD	0	0%	0	0%	1,246,599
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	144,932
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	1,391,531

Tangible fixed assets (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LN	0	0%	0	0%	22,356,740
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	3,111,035
	Decreasess by budget item transfer	NG1	0	0%	0	0%	462,280
	Decreasess by transfers	NG2	0	0%	0	0%	143,052
	Gross value at the end of period	NH	0	0%	0	0%	24,862,442

Fiancial assets (Total IV)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LQ	0	0%	0	0%	7,138,585
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	4,313,274
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	3,842,353
	Gross value at the end of period	NK	0	0%	0	0%	7,609,506

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

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2011		31/12/2010		31/12/2009
	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)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	1,140,576
Increases		PF	0	0%	0	0%	96,371
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	1,236,947

Total fixed assets amotisation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	14,173,056
Increases		QV	0	0%	0	0%	841,107
Decreases		QW	0	0%	0	0%	95,308
	Decreasess by budget item transfer	QX	0	0%	0	0%	14,918,854

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2011		31/12/2010		31/12/2009
	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

			31/12/2011		31/12/2010		31/12/2009
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	7C	0	0%	0	0%	9,541,618
Increases		UB	0	0%	0	0%	1,153,588
Decreases		UC	0	0%	0	0%	1,009,015
	Value at the end of period	UD	0	0%	0	0%	9,686,191

Includes Total allocations

Operating	UE	0	0%	0	0%	1,122,745
Financial	UG	0	0%	0	0%	27,130
Exceptional	UJ	0	0%	0	0%	3,713

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	149,574
Financial	UH	0	0%	0	0%	859,442
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	3Z	0	0%	0	0%	7,166,935
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	7,166,935

Total risk and charge provisions (Total II)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	5Z	0	0%	0	0%	526,275
Increases		TV	0	0%	0	0%	1,089,053
Decreases		TW	0	0%	0	0%	395,633
	Value at the end of period	TX	0	0%	0	0%	1,219,695

Total Provision for depreciation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	7B	0	0%	0	0%	1,848,408
Increases		TY	0	0%	0	0%	64,535
Decreases		TZ	0	0%	0	0%	613,382
	Value at the end of period	UA	0	0%	0	0%	1,299,561

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

		31/12/2011		31/12/2010		31/12/2009
Gross value	VT	0	0%	0	0%	20,378,637
1 year at most	VU	0	0%	0	0%	19,995,883
More than one year	VV	0	0%	0	0%	382,755

State of loans

		31/12/2011		31/12/2010		31/12/2009
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%	359,758
Loans (1 year at most)	UR	0	0%	0	0%	13,865
Other financial assets (gross)	UT	0	0%	0	0%	1,927,375
Other financial assets (1 year at most)	UV	0	0%	0	0%	1,890,514

Receivables statement of assets

		31/12/2011		31/12/2010		31/12/2009
Customers doubtful or disputed	VA	0	0%	0	0%	116,359
Other claims customer	UX	0	0%	0	0%	13,298,613
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	0	0%	0	0%	7,100
Social Security and other social organizations	UZ	0	0%	0	0%	264
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	1,181,180
Other taxes and payments assimilated	VN	0	0%	0	0%	2,174
State and other public - Miscellaneous	VP	0	0%	0	0%	10,761
Group and Associates	VC	0	0%	0	0%	1,404,907
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	1,741,531

Prepaid

		31/12/2011		31/12/2010		31/12/2009
Prepaid	VS	0	0%	0	0%	328,615

State Debt

			31/12/2011		31/12/2010		31/12/2009
	Total debt (gross)	VY	0	0%	0	0%	33,926,960
1 year at most		VZ2	0	0%	0	0%	32,268,730
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	1,658,230
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2011		31/12/2010		31/12/2009
	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%	4,026,178
1 year at most		VG2	0	0%	0	0%	4,026,178
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%	1,481,218
1 year at most		VH2	0	0%	0	0%	221,076
More than 1 year and 5 years at most		VH3	0	0%	0	0%	1,260,142
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	413,624
1 year at most		8A2	0	0%	0	0%	15,536
More than 1 year and 5 years at most		8A3	0	0%	0	0%	398,088
	Suppliers and associated accounts (gross)	8B1	0	0%	0	0%	19,432,153
1 year at most		8B2	0	0%	0	0%	19,432,153
More than 1 year and 5 years at most		8B3	0	0%	0	0%	19,432,153
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	1,344,250
1 year at most		8C2	0	0%	0	0%	1,344,250
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	0	0%	1,265,297
1 year at most		8D2	0	0%	0	0%	1,265,297
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	2,170,114
1 year at most		8E2	0	0%	0	0%	2,170,114
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	181,544
1 year at most		VW2	0	0%	0	0%	181,544
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	0	0%	0	0%	825,124
1 year at most		VQ2	0	0%	0	0%	825,124
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	0	0%	393,622
1 year at most		8K2	0	0%	0	0%	393,622
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%	2,393,835
1 year at most		8L2	0	0%	0	0%	2,393,835
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	234,365

Table allocation results and other information
Dividends distributed

		31/12/2011		31/12/2010		31/12/2009
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2011		31/12/2010		31/12/2009
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

		31/12/2011		31/12/2010		31/12/2009
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

		31/12/2011		31/12/2010		31/12/2009
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

		31/12/2011		31/12/2010		31/12/2009
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

		31/12/2011		31/12/2010		31/12/2009
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2011		31/12/2010		31/12/2009
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Fixed Asset Financing		1.70	-10.5%	1.90	25.8%	1.51	1.38	23.2%
Global Debt		56 days	-24.3%	74 days	0%	74 days	88.50 days	-36.7%
Working Capital Fund overall net		30 days	-33.3%	45 days	18.4%	38 days	56 days	-46.4%
Financial independence		168.07%	7.6%	156.21%	-65.1%	447.77%	169.98%	-1.1%
Solvability		36.64%	4.9%	34.92%	-18.8%	43%	43.88%	-16.5%
Capacity debt futures		%	-	%	-	624.23%	1297.48%	-
Coverage of current assets by net working capital overall		43.45%	-10.0%	48.28%	26.5%	38.17%	45.57%	-4.7%
General Liquidity			-		-	0.62	0.60	-
Restricted Liquidity			-		-	0.65	0.85	-

Management or rotation

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Need background in operating working capital		35 days	-28.6%	49 days	22.5%	40 days	60 days	-41.7%
Treasury		-2 days	-300%	1 days	-50.0%	2 days	3 days	-166.7%
Inventory turnover of goods		days	-	days	-	days	50.50 days	-
Average length of credit granted to customers		21 days	0%	21 days	-27.6%	29 days	47 days	-55.3%
Average length of credit obtained suppliers		26 days	-31.6%	38 days	-20.8%	48 days	39 days	-33.3%
Inventory turnover of raw materials in industrial enterprises		19 days	-20.8%	24 days	14.3%	21 days	24 days	-20.8%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	660 days	245.50 days	-
Rotation tangible assets		%	-	%	-	659.93%	253.27%	-

Profitability of the business

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Margin trading		0.25%	108.3%	0.12%	-72.7%	0.44	0%	0%
Profitability of the business		0.87	-78.9%	4.13	-30.8%	5.97	3.41%	-74.5%
Net profit		0.87%	-34.6%	1.33%	-72.3%	4.80%	1.54%	-43.5%
Growth rate of turnover (excluding VAT)		19.50%	-66.6%	58.44%	248.4%	-39.39%	10.89%	79.1%
Rates integration		5.22%	-42.8%	9.13%	-33.3%	13.68%	22.86%	-77.2%
Rate leasing furniture		0.17%	0%	0%	0%	0.50%	0%	0%
Work Factor		75.07%	54.5%	48.60%	-0.2%	48.71%	63.01%	19.1%
Weight interests		0.41	-70.7%	1.40%	-6.0%	1.49%	0.91%	-54.9%

Return on capital

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Cash flow from the overall profitability		1.22%	-80.1%	6.14%	28.5%	4.78%	1.44%	-15.3%
Rates of economic profitability		6%	-72.7%	22%	-26.7%	30%	13%	-53.8%
Financial profitability		28153072%	-4.4%	29460493%	11.1%	26512714%	4080899%	589.9%
Return on investment		8.82%	-40.0%	14.69%	-53.8%	31.83%	10.30%	-14.4%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Turnover	310,633,050	19.5%	259,952,067	58.4%	164,074,718	9,489,390 €	3173.5%

Sales of goods	762,603	148.5%	306,852	-57.3%	718,140
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	762,603 €	148.5%	306,852 €	-57.3%	718,140 €	0 €	0%
	0.25 % CA	108.3%	0.12 % CA	-72.7%	0.44 % CA	0 % CA	0%

Sale of goods produced	309,870,447	19.3%	259,645,215	58.9%	163,356,577
+/- Stocked production	-6,753,225	-174.3%	9,089,992	69.6%	5,358,640
+ Self-constructed assets	0	0%	0	0%	0
Period production	303,117,222 €	12.8%	268,735,207 €	59.3%	168,715,217 €	5,414,770 €	5498.0%
	97.58 % CA	-5.6%	103.38 % CA	0.5%	102.83 % CA	99.71 % CA	-2.1%

Trading margin	762,603	148.5%	306,852	-57.3%	718,140	0	0%
+ Period Production	303,117,222	12.8%	268,735,207	59.3%	168,715,217	5,414,770	5498.0%
- Purchase of raw materials	250,189,926	14.2%	218,995,016	80.5%	121,317,240
+/- Change in stocks of raw materiels	1,544,603	120.2%	-7,642,195	-306.2%	-1,881,279
- Other external purchases and charges	35,916,425	5.8%	33,954,853	23.2%	27,559,149
Added value	16,228,871 €	-31.6%	23,734,385 €	5.8%	22,438,247 €	1,281,171 €	1166.7%
	5.22 % CA	-42.8%	9.13 % CA	-33.3%	13.68 % CA	22.86 % CA	-77.2%

Added value	16,228,871 €	-31.6%	23,734,385 €	5.8%	22,438,247 €	1,281,171 €	1166.7%
+ Operating grants	1,844	-88.9%	16,612	0%	0
- Tax, duty and similar payments	1,356,852	-8.6%	1,484,023	-13.0%	1,706,354
- Personal charges	12,182,405	5.6%	11,535,273	5.5%	10,928,735
Gross operating surplus	2,691,458 €	-74.9%	10,731,701 €	9.5%	9,803,158 €	12,157 €	22039.2%
	0.87 % CA	-78.9%	4.13 % CA	-30.8%	5.97 % CA	3.41 % CA	-74.5%

Gross operating surplus	2,691,458 €	-74.9%	10,731,701 €	9.5%	9,803,158 €	12,157 €	22039.2%
+ Release of reserves and provisions	440,431	30.1%	338,538	-40.8%	572,229
+ Other operating income	14,114	-40.0%	23,542	64.7%	14,294
- Depreciation/Amortisation	1,437,122	30.7%	1,099,161	-46.6%	2,060,222
- Other charges	1,527	-93.1%	22,290	369.4%	4,749
Operating result	1,707,354 €	-82.9%	9,972,330 €	19.8%	8,324,710 €	10,178.50 €	16674.1%
	0.55 % CA	-85.7%	3.84 % CA	-24.3%	5.07 % CA	0.48 % CA	14.6%

Operating result	1,707,354 €	-82.9%	9,972,330 €	19.8%	8,324,710 €	10,178.50 €	16674.1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	963,749	-49.5%	1,910,196	-54.1%	4,160,854
- Financial charges	1,272,192	-65.2%	3,650,643	49.3%	2,445,495
Pre-tax result	1,398,911 €	-83.0%	8,231,883 €	-18.0%	10,040,069 €	19,901 €	6929.4%
	0.45 % CA	-85.8%	3.17 % CA	-48.2%	6.12 % CA	0.05 % CA	800%

Extraordinary income	2,691,477	-65.0%	7,698,696	1157.5%	612,203	474,505	467.2%
- Extraordinary charges	95,125	-99.1%	10,964,228	12908.5%	84,285
Extraordinary result	2,596,352 €	179.5%	-3,265,532 €	-718.6%	527,918 €	12,102 €	21353.9%
	0.84 % CA	166.7%	-1.26 % CA	-493.8%	0 % CA	0.09 % CA	833.3%

Pre-tax result	1,398,911 €	-83.0%	8,231,883 €	-18.0%	10,040,069 €	19,901 €	6929.4%
Extraordinary result	2,596,352 €	179.5%	-3,265,532 €	-718.6%	527,918 €	12,102 €	21353.9%
- Employee profit sharing	328,969	29.4%	254,223	-50.9%	517,657
- Tax on profits	976,317	-22.8%	1,264,227	-41.8%	2,172,914
Net result	2,689,977 €	-22.0%	3,447,901 €	-56.2%	7,877,416 €	126,229.50 €	2031.0%
	0.87 % CA	-34.6%	1.33 % CA	-72.3%	4.80 % CA	1.54 % CA	-43.5%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	29/08/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

Parent	M.U.S.T PRIVATSTIFTUNG
Direct parent	MONTANWERKE BRIXLEGG AG - 49 %
Group – Number of companies	66
Linkages – Number of companies	103
Number of countries	25
Parent	M.U.S.T PRIVATSTIFTUNG
Direct parent	MONTANWERKE BRIXLEGG AG - 49 %
Group – Number of companies	66
Linkages – Number of companies	103
Number of countries	25

Group Structure

Company Name	SIREN	Parts	Last account published
M.U.S.T PRIVATSTIFTUNG	-	-	-
A-TEC INDUSTRIES AG	-	55.20%	-
A-TEC MINERALS & METALS HOLDING GM...	-	100%	-
A-TEC MINERALS & METALS MANAGEME...	-	100%	-
ETABLISSEMENTS GINDRE DUCHAVAN...	955508817	51%	31/12/2011
METELEC LIMITED	04416364	100%	31/12/2013
KUPFERRHEYDT GMBH	HRB 6342	100%	31/12/2012
GINDRE COMPOSANTS	315064188	100%	31/12/2011
GINDRE COPPER LLC	-	100%	-
GINDRE TORNS	863650	100%	31/12/2013
GINDRE INDIA COMPONENTS LTD	-	100%	-
MONTANWERKE BRIXLEGG AG	-	92%	-
ETABLISSEMENTS GINDRE DUCHAV...	955508817	49%	31/12/2011
METELEC LIMITED	04416364	100%	31/12/2013
KUPFERRHEYDT GMBH	HRB 6342	100%	31/12/2012
GINDRE COMPOSANTS	315064188	100%	31/12/2011
GINDRE COPPER LLC	-	100%	-
GINDRE TORNS	863650	100%	31/12/2013
GINDRE INDIA COMPONENTS LT...	-	100%	-
KOVOHUTY AS	-	100%	-
MONTANWERKE BRIXLEGG WASSERK...	-	100%	-
E-TEC BETEILIGUNGSVERWALTUNGS GMBH	-	100%	-
AE&E ENERGY AG	-	100%	-
AE&E GROUP GMBH	-	100%	-
AE & E INOVA HOLDING AG IN L...	676351	100%	-
AE&E INOVA AG	-	100%	-
AE&E INC	-	100%	-
AE&E AUSTRIA GMBH	-	100%	-
AE&E POWER PLANT SYSTEMS GMB...	-	100%	-
AUSTRIAN ENERGY & ENVIRONMEN...	-	100%	-
AE&E INOVA GMBH	HRB 63407	100%	31/12/2009
DOOSAN LENTJES GMBH	HRB 52649	99%	31/12/2013
BABCOCK POWER ESPAÑA	15239	100%	-
AE&E DURO DAKOVIC TEP D.O.O.	-	100%	-
AE&E CZ S.R.O	-	100%	-
OOO AE&E	-	100%	-
AE&E AUSTRALIA PTY LTD	-	100%	-
AE&E CHENNAI WORKS PRIVATE L...	-	100%	-
AE&E I.D.E.A INDIA PRIVATE L...	-	100%	-
AE&E ENERGY & ENVIRONMENT PT...	-	100%	-
A-TEC LIEGENSCHAFTSVERWALTUNGS G...	-	99%	-
JET-EXPRESS ANLAGENVERMIETUNGS G...	-	100%	-
A-TEC BETEILIGUNGS GMBH	-	99%	-
A-TEC MECHANICAL ENGINEERING HOLDI...	-	100%	-
A-TEC MECHANICAL ENGINEERING INV...	HRB 12870	100%	31/12/2011
DORRIES SCHARMANN TECHNOLOGIE ...	-	100%	-
DS TECHNOLOGY INC	-	100%	-
DS TECH LIMITED	07931869	100%	28/02/2014
DST SERVICE CENTER GMBH & CO...	-	80%	-
EMCO MAIER GMBH	-	99%	-
EMCO ITALIA S.R.L.	MI1570058	100%	31/03/2013
EMCO FAMUP S.R.L.	PN83617	100%	31/03/2013
EMCO MECOF SRL	-	100%	-
INTOS SPOL. SRO	-	100%	-
EMCO MAGDEBURG GMBH	HRB 16968	91%	31/12/2012
A-TEC GEBRAUCHTMASCHINENHANDEL D...	HRB 47108	60%	31/12/2012
ENERGY INVESTMENT KRAFTWERKSERRICH...	-	100%	-
ATB AUSTRIA ANTRIEBSTECHNIK	1993471	98%	31/12/2013
ATB MOTORENWERKE GMBH	-	100%	-
ATB WELZHEIM GMBH	HRB 282126	94%	31/12/2012
ATB NORDENHAM GMBH	HRB 100435	94%	31/12/2012
ATB TECHNOLOGIES GMBH	-	100%	-
ATB SEVER AD	-	93.80%	-
ATB FOD DOO	-	100%	-
ATB MORLEY LIMITED	04036931	100%	31/12/2013
ATB LAURENCE SCOTT LIMITED	06241009	100%	31/12/2013
LINDETEVES-JACOBERG	427807	67%	31/12/2013
SCHORCH ELEKTRISCHE MASCHINEN ...	-	100%	-
FABRYKA SILNIKOW ELEKTRYCZNYCH...	-	100%	-
ATB SPECIAL PRODUCTS LIMITED	00476716	100%	31/12/2013
BROOK CROMPTON LTD	-	100%	-
BROOK CROMPTON MOTOR USA INC	-	100%	-

Shareholders

Linkages

Parent	M.U.S.T PRIVATSTIFTUNG
Direct parent	MONTANWERKE BRIXLEGG AG - 49 %
Group – Number of companies	66
Linkages – Number of companies	103
Number of countries	25

Parent	M.U.S.T PRIVATSTIFTUNG
Direct parent	MONTANWERKE BRIXLEGG AG - 49 %
Group – Number of companies	66
Linkages – Number of companies	103
Number of countries	25

Company Name	SIREN	Last account	Turnover
DOOSAN BABCOCK LIMITED	00839354	31/12/2013	421 148 000 £
DOOSAN TRADING LIMITED	IE443039	31/12/2013	8 757 000 €
DÖRRIES SCHARMANN TECHNOLOGIE GMBH	HRB 5635	31/12/2012	317 640 880 €
DOOSAN INTERNATIONAL UK LIMITED	06374674	31/12/2013	79 527 992 £
ATB SCHORCH GMBH	HRB 4988	31/12/2013	75 226 000 €
BROOK CROMPTON UK LIMITED	04305426	31/12/2013	17 340 921 £
DOOSAN ENPURE LIMITED	08224485	31/12/2013	2 276 000 £
DOOSAN POWER SYSTEMS OVERSEAS INVESTMENT...	03188306	31/12/2013	0 £
GEITH INTERNATIONAL LIMITED	IE035326	31/12/2012	15 866 717 €
ATB MOTORS B.V.	08077833	31/12/2013	-
DOOSAN HOLDINGS INTERNATIONAL LIMITED	IE446621	31/12/2013	0 €
DOOSAN HOLDINGS EUROPE LIMITED	IE446622	31/12/2013	891 233 790 €
DOOSAN LENTJES UK LIMITED	00798958	31/12/2013	238 000 £
AE&E DEUTSCHLAND GMBH	HRB 63558	31/12/2009	-
MORLEY ELECTRICAL ENGINEERING COMPANY,LI...	00052358	31/12/2013	-
SCHORCH BETEILIGUNGS GMBH	HRB 7036	31/12/2012	-
DAVID MCCLURE LIMITED	00464863	31/12/2013	-
DOOSAN TECHNO HOLDING COMPANY LIMITED	IE448783	31/12/2013	0 €
AE&E MII LTD	01817547	31/12/2009	12 426 920 £
BML LIMITED	05219003	30/09/2013	-
MORLEY ELECTRIC MOTORS LIMITED	05440999	31/12/2013	-
VCW LIMITED	06244095	31/12/2013	-
VLASTO CLARK & WATSON LIMITED	06257926	31/12/2013	-
DOOSAN BABCOCK ENERGY SERVICES (OVERSEAS...	00940595	31/12/2013	1 736 000 £
DOOSAN POWER SYSTEMS PENSION TRUSTEE COM...	02842376	31/12/2013	-
DOOSAN POWER SYSTEMS HOLDINGS LIMITED	05882781	31/12/2013	-
LAURENCE SCOTT & ELECTROMOTORS LIMITED	06257941	31/05/2014	-
BROOK MOTORS LIMITED	07526553	31/12/2013	-
A-TEC	10055904	31/12/2012	50 000 €
AEROLINEAS CENTRALES DE COLOMB	393339	-	-
A.L.S. ALTERSVERSORGUNG GMBH	HRB 6523	-	-
ATB ANTRIEBSTECHNIK AKTIENGESELLSCHAFT	HRB 280831	-	-
A-TEC MINERALS & METALS GMBH	-	-	-
A.D. SLOBODNA ZONA	-	-	-
ATB ANTRIEBSSYSTEME THIEN GMBH	-	-	-
ATB ANTRIEBSTECHNIK GMBH	-	-	-
ATB BASTRO S.R.O	-	-	-
ATB FOD D.O.O.	-	-	-
ATB FRANCE S.A.R.L.	-	-	-
ATB GMZ GMBH	-	-	-
ATB LAURENCE SCOTT LTD.	-	-	-
ATB MORLEY LTD.	-	-	-
ATB MOTORENTECHNIK GMBH	-	-	-
ATB MOTORENWERKE GMBH	-	-	-
ATB MOTORS (SHANGHAI) CO. LTD.	-	-	-
ATB MOTORS (SHANGHAI) CO.LTD	-	-	-
ATB MOTORS B.V.	-	-	-
ATB RUS OOO	-	-	-
ATB SCHWEIZ AG	-	-	-
ATB SELNI SAS	-	-	-
ATB SEVER D.O.O.	-	-	-
ATB SEVER MAK DOOEL	-	-	-
BC CANADA	-	-	-
BROOK CROMPTON (UK) LTD.	-	-	-
BROOK CROMPTON ASIA	-	-	-
BROOK CROMPTON B.V.	-	-	-
BROOK CROMPTON LIMITED	-	-	-
BROOK CROMPTON LIMITED	-	-	-
BROOK CROMPTON LTD.	-	-	-
BROOK CROMPTON MOTOR INC	-	-	-
BROOK CROMPTON MOTOR USA INC.	-	-	-
BROOK CROMPTON UK LIMITED	-	-	-
BROOK CROMPTON USA INC	-	-	-
BROOK CROMPTON WESTERN	-	-	-
BROOK MOTORS INTERNATIONAL LTD	-	-	-
BROOK MOTORS LTD.	-	-	-
CAPITAL- UND INDUSTRIE	-	-	-
DABATERA SDN. BHD.	-	-	-
DAVID MCCLURE LTD.	-	-	-
DOOSAN CORP CO LTD	-	-	-
DOOSAN HEAVY INDUSTRIES & CONSTRUCTION	-	-	-
DOOSAN HEAVY INDUSTRIES EUROPEAN HOLDING	-	-	-
DOOSAN INFRACORE BOBCAT HOLDINGS CO LTD	-	-	-
EMCO STAR ALLIANCE HOLDING AG	-	-	-
ENERGY & ENVIRONMENT AG	-	-	-
FABRYKA SILINIKOV ELECTRYCZNYC	-	-	-
FABRYKA SILNIKÓW ELEKTRYC	-	-	-
GINDRE DUCHAVANAY SA	-	-	-
JE LOIDOLD PRIVATSTIFTUNG	-	-	-
LINBERG SDN. BHD.	-	-	-
LINDETEVES ENGINEERING PTE LTD	-	-	-
LINDETEVES-JACOBERG LTD.	-	-	-
LINDETEVES-JACOBERG MALAYSIA	-	-	-
LINDETEVES-JACOBERG TRADINGS	-	-	-
LJ (SINGAPORE) HOLDING LTD.	-	-	-
MONTANWERKE BRIXLEGG AG	-	-	-
MOTORENWERKE SUBOTICA D.O.O.	-	-	-
MUST PRIVATSTIFTUNG	-	-	-
SCHORCH BETEILIGUNGS GMBH	-	-	-
SCHORCH ELEKTRISCHE MASCHINEN	-	-	-
TAMEL	-	-	-
UMCOR AG	-	-	-
VON ROLL INOVA HOLDING AG	-	-	-
VWESTERN ELECTRIC NEW ZEALAND	-	-	-
WESTERN ELECTRIC (DALIAN)	-	-	-
WESTERN ELECTRIC ASIA PTE. LTD	-	-	-
WESTERN ELECTRIC AUSTRALIA	-	-	-
WESTERN ELECTRIC AUSTRALIA	-	-	-
WESTERN ELECTRIC MOTOR SDN.	-	-	-
WESTERN ELECTRIC NEW ZEALAND	-	-	-
WESTERN ELECTRIC PACFIC LTD	-	-	-
WESTERN ELECTRIC PACIFIC LTD.	-	-	-
WOLONG HOLDING GROUP CO LTD	-	-	-

Consolidated Accounts

Active Account |  Passive Account |  Account Results |  Consolidation

Synthesized Accounts

Annual Accounts	31/12/2006	31/12/2005
Account period (month)	12	12
Account Type	Consolidated	Consolidated
Activity Code	2444Z	2444Z

Active account

Annual Accounts	31/12/2006		31/12/2005
Capital not called	0	0%	0
Total fixed assets	19,539,971	5.0%	18,610,427
- Intangible assets	200,893	-40.3%	336,387
- Tangible assets	15,051,231	3.0%	14,613,890
- Financial assets	4,282,904	56.3%	2,740,089
Net current assets	114,159,038	21.5%	93,979,638
- Stocks	44,336,437	29.3%	34,298,692
- Advanced payments	0	0%	0
- Receivables	67,054,552	23.1%	54,468,900
- Securities and cash	2,768,049	-46.9%	5,212,046
Accounts of regularization	233,481	726.4%	28,254
Total Assets	133,932,490	18.9%	112,618,319

Passive Account

Annual Accounts	31/12/2006		31/12/2005
Shareholders' equity	31,903,222	28.4%	24,851,643
Share capital	8,568,300	0%	8,568,300
Other capital resources	0	0%	0
Risk Provisions	6,654,320	57.0%	4,238,061
Liabilities	95,136,326	14.1%	83,395,029
- Financial liabilities	49,567,422	50.1%	33,019,898
- Advanced payments received	765,349	8687.0%	8,710
- Trade account payables	31,780,632	-19.9%	39,660,597
- Tax and social liabilities	8,965,095	90.6%	4,704,311
- Other debts and fixed assets liabilities	1,879,896	332.4%	434,803
Account regularization	2,196,253	-60.6%	5,572,710
Total liabilities	133,932,490	18.9%	112,618,319

Results

Annual Accounts	31/12/2006		31/12/2005
Sales of Goods	318,249,461	55.9%	204,163,383
Net turnover	316,977,017	60.3%	197,796,979
- of which net export turnover	234,335,373	41.2%	165,982,288
Operating charges	303,602,113	51.5%	200,345,208
Operating profit/loss	14,647,348	283.6%	3,818,175
Financial income	1,036,185	-37.8%	1,666,568
Financial charges	4,464,026	56.4%	2,854,421
Financial profit/loss	-3,427,841	-188.6%	-1,187,853
Pretax net operating income	11,219,507	326.5%	2,630,322
Extraordinary income	1,496,903	-10.7%	1,675,641
Extraordinary charges	2,008,647	15.9%	1,732,824
Extraordinary profit/loss	-511,744	-794.9%	-57,183

Consolidation

Annual Accounts	31/12/2006		31/12/2005
Net result before amortisation of goodwill	7,278,380	312.8%	1,763,044
Goodwill amortisation allocation	141,119	56.4%	90,210
Net result of equity affiliates companies	0	0%	-4,344
Net result of integrated companies	0	0%	0
Group result (consolidated net result)	7,137,261	327.8%	1,668,490
Share of minority interest (Result except group)	92,715	1211.0%	-8,345
Net result - group share (part of parent company)	7,044,546	320.1%	1,676,835

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2006	31/12/2005
Months	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2006		31/12/2005
	Grand Total (I to VI)	Net	133,932,490	18.9%	112,618,319
	Gross	CO	164,078,415	15.3%	142,340,061
	Amortisation	1A	30,145,915	1.4%	29,721,742

Capital subscribed not called (I)

		31/12/2006		31/12/2005
Capital suscribed not called (I)	AA3	0	0%	0

Active fixed asset (II)

			31/12/2006		31/12/2005
	Total Active fixed asset (II)	Net	19,539,971	5.0%	18,610,427
	Gross	BJ	49,442,544	2.6%	48,192,381
	Amortisation	BK	29,902,573	1.1%	29,581,954

Intangilble fixed assets

			31/12/2006		31/12/2005
	Start-up cost	Net	0	0%	0
	Gross	AB	0	0%	0
	Amortisation	AC	0	0%	0
	R&D expenses	Net	0	0%	0
	Gross	CX	0	0%	0
	Amortisation	AE	0	0%	0
	Distributorships, patents	Net	198,987	6.2%	187,447
	Gross	AF	1,179,627	5.0%	1,123,289
	Amortisation	AG	980,640	4.8%	935,842
	Goodwill	Net	0	0%	145,263
	Gross	AH	0	0%	891,955
	Amortisation	AI	0	0%	746,692
	Other intangible fixed assets	Net	1,906	-48.2%	3,677
	Gross	AJ	4,166	-10.4%	4,651
	Amortisation	AK	2,260	132.0%	974
	Pre-payments and downpayments	Net	0	0%	0
	Gross	AL	0	0%	0
	Amortisation	AM	0	0%	0

Tangilble fixed assets

			31/12/2006		31/12/2005
	Acquisition difference	Net	4,943	0%	0
	Gross	A11	1,238,638	266.6%	337,888
	Amortisation	A12	1,238,638	266.6%	337,888
	Goodwill	Net	0	0%	0
	Gross	A21	0	0%	0
	Amortisation	A22	0	0%	0
	Difference from the first consolidation	Net	0	0%	0
	Gross	A31	0	0%	0
	Amortisation	A32	0	0%	0
	Lands	Net	187,166	0.0%	187,167
	Gross	AN	187,166	0.0%	187,167
	Amortisation	AO	0	0%	0
	Buildings	Net	3,965,491	4.1%	3,809,014
	Gross	AP	6,524,703	7.3%	6,080,630
	Amortisation	AQ	2,559,212	12.7%	2,271,616
	Plant	Net	8,761,875	-0.4%	8,797,051
	Gross	AR	29,384,441	-1.1%	29,718,593
	Amortisation	AS	20,622,566	-1.4%	20,921,542
	Other tangible fixed assets	Net	1,749,159	19.1%	1,468,378
	Gross	AT	6,253,359	7.2%	5,835,778
	Amortisation	AU	4,504,200	3.1%	4,367,400
	Fixed assets in construction	Net	387,540	10.0%	352,280
	Gross	AV	387,540	10.0%	352,280
	Amortisation	AW	0	0%	0
	Advances and payments on account	Net	0	0%	0
	Gross	AX	0	0%	0
	Amortisation	AY	0	0%	0

Financial assets

			31/12/2006		31/12/2005
	Associates at equity	Net	0	0%	0
	Gross	CS	0	0%	0
	Amortisation	CT	0	0%	0
	Other participations	Net	587,414	0%	0
	Gross	CU	587,414	0%	0
	Amortisation	CV	0	0%	0
	Inter-company receivables	Net	0	0%	0
	Gross	BB	0	0%	0
	Amortisation	BC	0	0%	0
	Other investment securities	Net	18,399	-23.8%	24,131
	Gross	BD	18,399	-23.8%	24,131
	Amortisation	BE	0	0%	0
	Loans	Net	388,730	5.0%	370,193
	Gross	BF	388,730	5.0%	370,193
	Amortisation	BG	0	0%	0
	Other financial assets	Net	3,288,361	40.2%	2,345,765
	Gross	BH	3,288,361	40.2%	2,345,765
	Amortisation	BI	0	0%	0
	Other financial assets	Net	0	0%	920,061
	Gross	A41	0	0%	920,061
	Amortisation	A42	0	0%	0

Current Assets (III)

			31/12/2006		31/12/2005
	Total Assets	Net	114,159,038	21.5%	93,979,638
	Gross	CJ	114,402,390	21.6%	94,119,426
	Amortisation	CK	243,352	74.1%	139,788

Stocks

			31/12/2006		31/12/2005
	Raw materials	Net	12,777,213	105.5%	6,216,610
	Gross	BL	12,777,213	105.5%	6,216,610
	Amortisation	BM	0	0%	0
	Work in progress (goods)	Net	2,705,368	-4.6%	2,836,185
	Gross	BN	2,705,368	-4.6%	2,836,185
	Amortisation	BO	0	0%	0
	Work in progress (services)	Net	0	0%	0
	Gross	BP	0	0%	0
	Amortisation	BQ	0	0%	0
	Semi-finished and finished products	Net	21,502,235	-0.2%	21,543,735
	Gross	BR	21,631,235	0.4%	21,543,735
	Amortisation	BS	129,000	0%	0
	Goods for resale	Net	7,351,621	98.6%	3,702,162
	Gross	BT	7,351,621	98.6%	3,702,162
	Amortisation	BU	0	0%	0

Advance payments to suppliers

			31/12/2006		31/12/2005
	Advance payments to suppliers	Net	0	0%	0
	Gross	BV	0	0%	0
	Amortisation	BW	0	0%	0

Debtors

			31/12/2006		31/12/2005
	Trade accounts receivable	Net	60,693,998	23.9%	48,988,435
	Gross	BX	60,808,350	23.8%	49,128,223
	Amortisation	BY	114,352	-18.2%	139,788
	Other debtors	Net	4,947,897	14.8%	4,311,540
	Gross	BZ	4,947,897	14.8%	4,311,540
	Amortisation	CA	0	0%	0
	Capital subscribed and called up	Net	0	0%	0
	Gross	CB	0	0%	0
	Amortisation	CC	0	0%	0

Divers

			31/12/2006		31/12/2005
	Investment securities	Net	0	0%	0
	Gross	CD	0	0%	0
	Amortisation	CE	0	0%	0
	Cash and cash equivalents	Net	2,768,049	-46.9%	5,212,046
	Gross	CF	2,768,049	-46.9%	5,212,046
	Amortisation	CG	0	0%	0

Prepaid expenses

			31/12/2006		31/12/2005
	Prepaid expenses	Net	1,412,657	20.9%	1,168,925
	Gross	CH	1,412,657	20.9%	1,168,925
	Amortisation	CI	0	0%	0

Equalization accounts (IV to VI)

		31/12/2006		31/12/2005
Multi-period charges	CW3	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0
Currency differential gain	CN3	233,481	726.4%	28,254

References

		31/12/2006		31/12/2005
Due within one year	CP	0	0%	0
Due after one year	CR	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2006		31/12/2005
Grand Total (I to IV)	EE	133,932,490	18.9%	112,618,319

Shareholder Equity (I)

			31/12/2006		31/12/2005
	Total shareholders' equity (Total I)	DL	31,903,222	28.4%	24,851,643
	Equity and shareholders' equity	DA	8,568,300	0%	8,568,300
	Issue and merger premiums	DB	2,903,934	0%	2,903,934
	Revaluation differentials	DC	0	0%	0
	Of which equity differential	EK	0	0%	0
	Legal reserve	DD	425,412	0%	425,412
	Statutory or contractual reserve	DE	139,893	0%	139,893
	Special regulated reserves	DF	278,259	0%	278,259
	Other reserves	DG	7,546,783	34.6%	5,605,318
	Profits or losses brought forward	DH	5,130,678	-4.9%	5,395,315
	Conversion differences	P1	-134,583	5.0%	-141,623
	Net result - group part	P2	7,044,546	320.1%	1,676,835
	Investment grants	DJ	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0

Other capital resources (II)

			31/12/2006		31/12/2005
	Total other capital resources (Total II)	DO	0	0%	0
	Income from participating securities	DM	0	0%	0
	Conditional loans	DN	0	0%	0
	Others	P3	0	0%	0

Provisions for risks and charges (III)

			31/12/2006		31/12/2005
	Total provisions for risks and charges (Total III)	DR	6,654,320	57.0%	4,238,061
	Conversion differences	P4	0	0%	0
	In reserves	P5	127,585	-6.1%	135,930
	In results	P6	92,715	1211.0%	-8,345
	Total III	P7	220,300	72.7%	127,585
	Delayed tax	P8	3,675,954	115.1%	1,708,865
	Acquisition differences	P9	0	0%	0
	Risk provisions	DP	2,779,766	33.8%	2,077,975
	Reserves for charges	DQ	198,600	-56.0%	451,221

Liabilities (IV)

			31/12/2006		31/12/2005
	Total Liabilities (Total IV)	EC	95,136,326	14.1%	83,395,029
	Convertible debentures	DS	0	0%	0
	Other debentures	DT	0	0%	0
	Bank loans and liabilities	DU	45,273,377	66.3%	27,217,270
	Sundry loans and financial liabilities	DV	4,294,045	-26.0%	5,802,628
	Of which participating loans	EI	0	0%	0
	Advance payments received for current orders	DW	765,349	8687.0%	8,710
	Trade accounts payables	DX	31,780,632	-19.9%	39,660,597
	Tax and social security liabilities	DY	8,965,095	90.6%	4,704,311
	Fixed asset liabilities	DZ	3,876	550.3%	596
	Other debts	EA	1,857,699	333.8%	428,207

Translation loss (V)

		31/12/2006		31/12/2005
Translation loss (Total V)	ED	18,321	205.4%	6,000

Equalization accounts

		31/12/2006		31/12/2005
Deferred income	EB	2,196,253	-60.6%	5,572,710

References

		31/12/2006		31/12/2005
Of which tax-allowable reserve	EF	0	0%	0
Deferred income and liabilities	EG	0	0%	0
Of which current bank facilities	EH	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Operating income | Operating charges | Financial income | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		31/12/2006		31/12/2005
Operating result (Total I-II)	GG	14,647,348	283.6%	3,818,175

2 - Financial result (V - VI)

		31/12/2006		31/12/2005
Financial result (Total V-VI)	GV	-3,427,841	-188.6%	-1,187,853

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

		31/12/2006		31/12/2005
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	11,219,507	326.5%	2,630,322

4 - Extraordinary result (VII-VIII)

		31/12/2006		31/12/2005
Extraordinary result (Total VII-VIII)	HI	-511,744	-794.9%	-57,183

Consolidation

		31/12/2006		31/12/2005
Delayed tax	R1	1,093,652	54.8%	706,533
Net result before amortisation of acquisition differences	R2	7,278,380	312.8%	1,763,044
Endowment to amortisation of acquisition differences	R3	141,119	56.4%	90,210
Net result of companies set in equivalence	R4	0	0%	-4,344
Net result of integrated companies	R5	0	0%	0
Group result (consolidated net result)	R6	7,137,261	327.8%	1,668,490
Cross-reference : equipment leasing	R7	92,715	1211.0%	-8,345
Cross-reference : property leasing	R8	7,044,546	320.1%	1,676,835

Operating income (I)

		31/12/2006		31/12/2005
Total operating income (Total I)	FR	318,249,461	55.9%	204,163,383

Operating income (details)

			31/12/2006		31/12/2005
	Sale of goods for resale	FC	58,062,172	58.2%	36,695,546
	France	FA	6,400	0%	0
	Export	FB	58,055,772	58.2%	36,695,546
	Sale of goods produced	FF	252,419,174	60.6%	157,142,538
	France	FD	80,392,390	163.9%	30,467,444
	Export	FE	172,026,784	35.8%	126,675,094
	Sale of services	FI	6,495,671	64.1%	3,958,895
	France	FG	2,242,854	66.5%	1,347,247
	Export	FH	4,252,817	62.8%	2,611,648
	Net turnover	FL	316,977,017	60.3%	197,796,979
	France	FJ	82,641,644	159.8%	31,814,691
	Export	FK	234,335,373	41.2%	165,982,288
	Stocked production	FM	549,223	-90.7%	5,882,988
	Self-constructed assets	FN	0	0%	0
	Operating grants	FO	0	0%	0
	Release of reserves and provisions	FP	567,741	80.3%	314,939
	Other income	FQ	155,480	-7.7%	168,477

Operating charges (II)

		31/12/2006		31/12/2005
Total operating charges (Total II)	GF	303,602,113	51.5%	200,345,208

Exploitation charges

		31/12/2006		31/12/2005
Purchase of goods for resale	FS	36,009,529	487.8%	6,126,408
Change in stocks of goods for resale	FT	-3,036,994	-277.7%	-804,043
Purchase of raw materials	FU	227,240,389	46.1%	155,565,757
Change in stocks of raw materials	FV	-6,575,694	-19.2%	-5,515,798
Other external purchases and charges	FW	27,667,333	14.7%	24,111,471
Tax, duty and similar payments	FX	2,300,657	42.3%	1,616,761
Payroll	FY	13,102,248	8.1%	12,116,590
Social security costs	FZ	4,369,669	0.6%	4,342,936

Depreciation

		31/12/2006		31/12/2005
Depreciation of fixed assets	GA	1,914,803	-10.7%	2,145,321
Amortisation of fixed assets	GB	0	0%	0
Depreciation/amortisation of current assets	GC	49,583	163.6%	18,812
Provisions for risks and charges	GD	537,069	17.0%	459,162

Other charges

		31/12/2006		31/12/2005
Other charges	GE	23,521	-85.5%	161,831

Operating charges (III-IV)

		31/12/2006		31/12/2005
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0

Financial income (V)

			31/12/2006		31/12/2005
	Total financial income (Total V)	GP	1,036,185	-37.8%	1,666,568
	Share financial income	GJ	6,754	-82.6%	38,835
	Other investment income & capitalised receivables	GK	0	0%	0
	Other interest and similar income	GL	113,876	-0.7%	114,641
	Released provisions and transferred charges	GM	31,246	-69.4%	101,989
	Exchange gains	GN	884,309	-37.3%	1,411,103
	Net income from disposal of investment securities	GO	0	0%	0

Financial Charge (VI)

			31/12/2006		31/12/2005
	Total financial charge (Total VI)	GU	4,464,026	56.4%	2,854,421
	Financial reserves and provisions	GQ	236,479	737.2%	28,246
	Interest and similar charges	GR	2,636,845	75.4%	1,503,048
	Exchange losses	GS	1,590,702	20.2%	1,323,127
	Net loss from disposal of investment securities	GT	0	0%	0

Extraordinary income (VII)

			31/12/2006		31/12/2005
	Total extraordinary income (Total VII)	HD	1,496,903	-10.7%	1,675,641
	Extraordinary operating income	HA	194,407	307.3%	47,727
	Extraordinary income from capital transactions	HB	1,033,574	-35.9%	1,612,290
	Released provisions and transferred charges	HC	268,922	1621.2%	15,624

Extraordinary charges (VIII)

			31/12/2006		31/12/2005
	Total extraordinary charges (Total VIII)	HH	2,008,647	15.9%	1,732,824
	Extraordinary operating charges	HE	362,090	-16.2%	432,325
	Extraordinary charges from capital transactions	HF	1,646,557	61.8%	1,017,578
	Extraordinary reserves and provisions	HG	0	0%	282,921

Employee profit sharing (IX)

		31/12/2006		31/12/2005
Employee profit sharing (Total IX)	HJ	0	0%	0

Tax on profits (X)

		31/12/2006		31/12/2005
Tax on profits (Total X)	HK	2,335,731	2155.4%	103,562

References

		31/12/2006		31/12/2005
Of which equipment leases	HP	0	0%	0
Of which property leases	HQ	0	0%	0

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2006		31/12/2005
Fixed Asset Financing		2.39	25.8%	1.90
Global Debt		108.05 days	-28.8%	151.78 days
Working Capital Fund overall net		77.89 days	-1.6%	79.17 days
Financial independence		70.47%	-22.8%	91.31%
More ratios
Solvability		23.82%	7.9%	22.07%

Management or rotation

		31/12/2006		31/12/2005
Need background in operating working capital		75.65 days	-2.9%	77.89 days
Treasury		3.14 days	-66.9%	9.49 days
Inventory turnover of goods		80.27 days	-67.9%	250.41 days
More ratios
Inventory turnover of raw materials in industrial enterprises		16.12 days	38.5%	11.64 days
Inventory turnover of intermediate and finished products in the industrial enterprise		0.55 days	-35.3%	0.85 days

Profitability of the business

		31/12/2006		31/12/2005
Margin trading		58062161.60%	58.2%	36695543.31%
Profitability of the business		5.19	68.0%	3.09
More ratios
Rates integration		11.43%	-6.5%	12.23%
Rate leasing furniture		0%	0%	0%
Weight interests		1.41	-2.1%	1.44%

Return on capital

		31/12/2006		31/12/2005
Rates of economic profitability		20.19%	91.0%	10.57%

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
12/02/2014	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 2868 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : PRICEWATERHOUSECOOPERS AUDIT n'est plus commissaire aux comptes titulaire. NICOLAS Yves nom d'usage : NICOLAS n'est plus commissaire aux comptes suppléant. Activité : . Commentaires : Modification de l'administration.
05/12/2012	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 2655 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : DELOITTE & ASSOCIES SA devient commissaire aux comptes titulaire. BEAS SARL devient commissaire aux comptes suppléant. Activité : . Commentaires : Modification de l'administration.
09/05/2012	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 10498 - 955508817 RCS. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Adresse : 131 rue de Créqui 69006 Lyon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
10/02/2012	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 2538 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : DR DURCHSCHLAG Walter nom d'usage : DR DURCHSCHLAG n'est plus président. PUNZ Gabriele nom d'usage : PUNZ devient président. Activité : . Commentaires : Modification de l'administration.
14/01/2012	JAL	Appointment of the social representative
Tout Lyon (Le) - le Moniteur Date de décision : 24/10/2011 Société faisant l'objet d'une nomination : 955508817 - ETABLISSEMENTS GINDRE DUCHAVANY, 131 RUE DE CREQUI, 69006 LYON 6EME Nominé : Madame Gabriele PUNZ, 6020 INNSBRUCK En la fonction de : Président
14/01/2012	JAL	Resignation / Revocation of the social representative
Tout Lyon (Le) - le Moniteur Date de décision : 24/10/2011 La société 955508817 - ETABLISSEMENTS GINDRE DUCHAVANY, 131 RUE DE CREQUI, 69006 LYON 6EME Fait l'objet du départ de Walter DURCHSCHLAG
24/06/2011	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 7556 - 955508817 RCS. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Adresse : 131 rue de Créqui 69006 Lyon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
12/11/2010	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 1595 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : KPMG Audit n'est plus commissaire aux comptes titulaire. FRIZOT Daniel nom d'usage : FRIZOT n'est plus commissaire aux comptes suppléant. Commentaires : Modification de l'administration.
20/10/2010	JAL	Resignation / Revocation of the social representative
Tribune de Lyon Date de décision : 14/04/2010 La société 955508817 - ETABLISSEMENTS GINDRE DUCHAVANY, 131 RUE DE CREQUI, 69006 LYON 6EME Fait l'objet du départ de
12/07/2010	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 7602 - 955508817 RCS. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Adresse : 131 rue de Créqui 69006 Lyon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
14/04/2010	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 1762 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : PRICEWATERHOUSECOOPERS AUDIT devient commissaire aux comptes titulaire. NICOLAS Yves nom d'usage : NICOLAS Yves devient commissaire aux comptes suppléant. Commentaires : Modification de l'administration.
24/07/2009	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 7223 - 955508817 RCS. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Adresse : 131 rue de Créqui 69006 Lyon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
22/10/2008	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 6261 - 955508817 RCS. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Adresse : 131 rue de Créqui 69006 Lyon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
16/04/2008	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 1263 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : LUNEAU François Georges Pierre nom d'usage : LUNEAU François devient directeur général. Commentaires : Modification de l'administration.
20/03/2008	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 2177 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : Société par Actions Simplifiée. Administration : ERNST ET YOUNG n'est plus commissaire aux comptes titulaire.. CABINET ALAIN BONNIOT ET ASSOCIÉS n'est plus commissaire aux comptes titulaire.. MARY-DAUPHIN Daniel nom d'usage : MARY-DAUPHIN Daniel n'est plus commissaire aux comptes suppléant.. CHAUMONT Jacques nom d'usage : CHAUMONT Jacques n'est plus commissaire aux comptes suppléant.. KPMG Audit devient commissaire aux comptes titulaire.. FRIZOT Daniel nom d'usage : FRIZOT Daniel devient commissaire aux comptes suppléant.. Commentaires : Modification de l'administration.
23/01/2008	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE LYON 1254 - 955 508 817 RCS Lyon. ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A.S. Administration : ancien président du conseil d'administration et directeur général : DR DURCHSCHLAG (Walter) nom d'usage : DR DURCHSCHLAG (Walter). Nouveau président : DR DURCHSCHLAG (Walter) nom d'usage : DR DURCHSCHLAG (Walter). Anciens administrateurs : GINDRE (Denis) nom d'usage : GINDRE (Denis) ; DR KOVATS (Mirko) nom d'usage : DR KOVATS (Mirko) ; BARBOSA (Céline) nom d'usage : BARBOSA (Céline). Capital : 7989600 EUR. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Commentaires : modification survenue sur le capital, la forme et l'administration ainsi que la dénomination.
06/09/2007	Bodacc C	Avis de dépôt des comptes
7475 - 955 508 817. RCS Lyon SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme: société anonyme à conseil d'administration. Adresse du siège social: 131 rue de Créqui 69006 Lyon. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
06/09/2007	Bodacc C	Avis de dépôt des comptes
7476 - 955 508 817. RCS Lyon SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme: société anonyme à conseil d'administration. Adresse du siège social: 131 rue de Créqui 69006 Lyon. Comptes consolidés et rapport de l'exercice clos le: 31 décembre 2006.
02/09/2007	Bodacc B	Modifications et mutations diverses
846 - RCS Lyon 955 508 817. RC 55-B 00881. S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui,, 69006 Administration : nomination du président du conseil d'administration et directeur général : Dr DURCHSCHLAG (Walter). Ancien président du conseil d'administration et directeur général : GINDRE (Denis), qui reste administrateur. Anciens administrateurs : BANQUE DE VIZILLE GINDRE (Bruno, Marie) LAMY (Fabrice) LACROIX (Bruno) ADAM (Christopher). Nouveaux administrateurs : Dr KOVATS (Mirko) et BARBOSA (Céline).
11/03/2007	Bodacc B	Modifications et mutations diverses
1665 - RCS Lyon 955 508 817. RC 55-B 00881. S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui,, 69006 Administration : ancien administrateur : S.A. COPARMAT.
26/10/2006	Bodacc B	Modifications et mutations diverses
1217 - RCS Lyon 955 508 817. RC 55-B 00881. S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui,, 69006 Administration : ancien administrateur : GINDRE (Léopold). Nouvel administrateur : LAMY (Fabrice).
24/10/2006	Bodacc C	Avis de dépôt des comptes
8149 - RCS Lyon B 955 508 817. RC 55-B 881. SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme: S.A. Adresse du siège social: 131, Rue de Crequi,69006 Lyon. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
21/10/2006	Bodacc C	Avis de dépôt des comptes
2010 - RCS Lyon B 955 508 817. RC 55-B 881. SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme: S.A. Adresse du siège social: 131, Rue de Crequi,69006 Lyon. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
23/10/2005	Bodacc C	Avis de dépôt des comptes
3033 - RCS Lyon B 955 508 817. RC 55-B 881. SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Adresse du siège social: 131, Rue de Crequi,69006 Lyon. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
14/10/2005	Bodacc C	Avis de dépôt des comptes
3351 - RCS Lyon B 955 508 817. RC 55-B 881. SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme: société anonyme à conseil d'administration. Adresse du siège social: 131, Rue de Crequi,69006 Lyon. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
09/09/2004	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : ancien administrateur : GINDRE (Jacques) . Nouvel administrateur : GINDRE (Bruno, Marie).
31/08/2004	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : nomination du directeur général : GINDRE (Denis), déjà président du conseil d'administration.
18/09/2003	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : nouveau représentant permanent de la BANQUE DE VIZILLE, administrateur : SCALBERT (Patrick, Jean-Marie, Joseph).
03/06/2003	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : nouvel administrateur : ADAM ( Christopher).
22/01/2003	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 SOCIETE ANONYME DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : ancien administrateur : MARTIN (Claude).
11/11/2001	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. à conseil d'administration. Capital : 8 568 300 euros. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Commentaires : modification survenue sur le capital.
22/12/2000	Bodacc B	Modifications et mutations diverses
RCS Lyon 955508817 RC 55-B 00881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. Capital : 57 122 000 F. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Administration : nouvel administrateur : BANQUE DE VIZILLE, représentée par POUILLY (Erick) . Anciens commissaires aux comptes titulaires : STE HELIOS et GUIT (Claude) . Nouveau commissaires aux comptes titulaires : ERNST ET YOUNG et CABINET ALAIN BONNIOT ET ASSOCIES. Ancien commissaire aux comptes suppléant : BLOCH (Jean, Michel). Nouveau commissaire aux comptes suppléant : MARY-DAUPHIN (Daniel). Date d'effet : 30 juin 2000.
02/05/2000	Bodacc B	Modifications et mutations diverses
955 508 817. RCS Lyon. RC 55-B 00881 S. A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. Capital : 57 122 000 F. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Commentaires : modification survenue sur le capital social Date de début d'activité: 13 janvier 2000.
25/11/1998	Bodacc B	Modifications et mutations diverses
955 508 817. RCS Lyon. RC 55-B 00881 S. A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. Capital : 40 000 000 F. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Commentaires : modification survenue sur le capital social. Date d'effet : 12 juin 1998.
21/02/1995	Bodacc B	Modifications et mutations diverses
RCS Lyon B 955 508 817 RC 55-B 00881 S. A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. Capital : 17 000 000 de F. Adresse du siège social : 131 rue de Créqui, 69006 Lyon. Commentaires : modification survenue sur le capital. Administration : ancien président- directeur général et administrateur : GINDRE (Denis) anciens administrateurs : GINDRE (Léopold), MARTIN (Claude) nouveau président- directeur général et administrateur : SIRE (Claude) à compter du:29 juin 1994 Nouveau directeur général non administrateur : GINDRE (Denis) à compter du:2 juillet 1994 Ancien président-directeur général et administrateur : SIRE (Claude ancien administrateur : DESNOYERS S.A. nouveaux administrateurs : MARTIN ( Claude), GINDRE (Léopold), GINDRES ( Jacques) nouveau président-directeur général et administrateur : LACROIX ( Bruno) ancien directeur général non administrateur : GINDRE (Denis) changement de représentant permanent de la société COPARMAT, administrateur : ancien : DUBEDOUT (Alain), nouveau : HALL (Brian) à compter du:25 juillet 1994 Ancien co-commissaire aux comptes titulaire : MARTY DAUPHIN (Daniel) ancien co-commissaire aux comptes suppléant : BONHOMME (Jean-Marc) à compter du:1er janvier 1994 (effet rétroactif) Nouveau co-commissaire aux comptes titulaire : GUIT (Claude) nouveau co-commissaire aux comptes suppléant : CHAUMONT (Jacques). Date d'effet : 25 juillet 1994.
14/02/1995	Bodacc B	Modifications et mutations diverses
RCS Lyon B 955 508 817 RC 55-B 881 S.A. DES ETABLISSEMENTS GINDRE DUCHAVANY. Forme : S.A. Capital : 17 000 000 de F. Adresse du siège social : 131, rue de Créqui, 69006 Lyon. Administration : ancien président-directeur général : LACROIX (Bruno), administrateur maintenu nouveau président-directeur général et administrateur : GINDRE ( Louis) nouveau commissaire aux comptes co-titulaire : GUIT (Claude) nouveau commissaire aux comptes co- suppléant : CHAUMONT (Jacques). Commentaires : ancien siège social et établissement principal : 124, rue de Sèze, 69006 Lyon. Date d'effet : 27 septembre 1994.

Company events history

Date	Description
05/01/2015	Update Rating
05/01/2015	Update Limit
12/02/2014	Bodacc B: Various editing or changing
21/01/2014	Minutes of general meeting of shareholders
21/01/2014	Updated articles of association
22/10/2013	Update Limit
22/10/2013	Update Rating
29/08/2013	Update Limit
29/08/2013	Update Rating
05/12/2012	Bodacc B: Various editing or changing
06/11/2012	Minutes of general meeting of shareholders
06/11/2012	Updated articles of association
11/05/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
09/05/2012	Bodacc C : Deposit accounts notice
10/02/2012	Bodacc B: Various editing or changing
20/01/2012	Minutes of general meeting of shareholders
14/01/2012	Legal Gazette: Resignation / Revocation of the social representative
31/12/2011	New accounts available
24/10/2011	Legal Gazette: Appointment of the social representative
24/06/2011	Bodacc C : Deposit accounts notice
28/05/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
12/11/2010	New subsidiarie(s) detected
12/11/2010	New ultimate parent
12/11/2010	New parent detected
12/11/2010	Bodacc B: Various editing or changing
20/10/2010	Legal Gazette: Resignation / Revocation of the social representative
14/10/2010	Minutes of general meeting of shareholders
14/10/2010	PV d'Assemblée
12/07/2010	Bodacc C : Deposit accounts notice
14/04/2010	Bodacc B: Various editing or changing
17/03/2010	Updated articles of association
17/03/2010	Statuts mis à jour
17/03/2010	PV d'Assemblée
17/03/2010	Minutes of general meeting of shareholders
31/12/2009	New accounts available
24/07/2009	Bodacc C : Deposit accounts notice
31/12/2008	Payment incident closed
31/12/2008	New accounts available
08/12/2008	Payment incident detected
22/10/2008	Bodacc C : Deposit accounts notice
29/08/2008	Collection of preferential rights activated for this company
16/04/2008	Bodacc B: Various editing or changing
31/03/2008	Amendment
31/03/2008	Acte modificatif
31/03/2008	Minutes of general meeting of shareholders
31/03/2008	Appointment/resignation of company officers
31/03/2008	Private document
20/03/2008	New Bodacc B ads detected
20/03/2008	Bodacc B: Various editing or changing
21/02/2008	Acte modificatif
21/02/2008	Private document
21/02/2008	Amendment
21/02/2008	New auditor
21/02/2008	Minutes of general meeting of shareholders
21/02/2008	Appointment/resignation of company officers
23/01/2008	New Bodacc B ads detected
23/01/2008	Bodacc B: Various editing or changing
31/12/2007	New accounts available
26/11/2007	Update of Company Legal Form
26/11/2007	Other modification of Establishment (error correction)
24/09/2007	Declaration of conformity
24/09/2007	PV du Conseil d'Administration
24/09/2007	New company name
24/09/2007	Capital reduction
24/09/2007	Capital increase
24/09/2007	New legal form – no new category
24/09/2007	Déclaration de conformité
24/09/2007	Appointment/resignation of company officers
24/09/2007	Acte modificatif
24/09/2007	Updated articles of association
24/09/2007	PV d'Assemblée
24/09/2007	Minutes of general meeting of shareholders
24/09/2007	Statuts mis à jour
24/09/2007	Minutes of Board meeting
31/07/2007	Update of Company Name
31/07/2007	Update of Company Legal Form
31/07/2007	Modification to Company Identifier
20/07/2007	Private document
20/07/2007	Rapport des Commissaires ou du Gérant
20/07/2007	Audit or Management Report
13/07/2007	Private document
13/07/2007	Rapport des Commissaires ou du Gérant
13/07/2007	Audit or Management Report
28/06/2007	Planned merger
28/06/2007	Private document
19/06/2007	Private document
19/06/2007	Minutes of Board meeting
19/06/2007	PV d'Assemblée
19/06/2007	Amendment
19/06/2007	Acte modificatif
19/06/2007	Appointment/resignation of company officers
19/06/2007	PV du Conseil d'Administration
19/06/2007	Minutes of general meeting of shareholders
13/06/2007	Requête et Ordonnance
13/06/2007	Application and court order
23/01/2007	Private document
23/01/2007	Appointment/resignation of company officers
23/01/2007	PV d'Assemblée
23/01/2007	Minutes of general meeting of shareholders
31/12/2006	New consolidated accounts available
31/12/2006	New accounts available
18/09/2006	Minutes of general meeting of shareholders
18/09/2006	Appointment/resignation of company officers
18/09/2006	PV d'Assemblée
18/09/2006	Changes to the Board of Directors
18/09/2006	Private document
31/12/2005	New consolidated accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
02/08/2004	Acte sous seing privé
02/08/2004	Minutes of general meeting of shareholders
02/08/2004	PV d'Assemblée
02/08/2004	Modification du Conseil d'Administration
02/08/2004	Changes to the Board of Directors
02/08/2004	Private document
02/08/2004	Appointment/resignation of company officers
02/08/2004	Nomination/démission des organes de gestion
16/07/2004	Acte modificatif
16/07/2004	Private document
16/07/2004	Acte sous seing privé
16/07/2004	Updated articles of association
16/07/2004	Statuts mis à jour
16/07/2004	Minutes of Board meeting
16/07/2004	PV du Conseil d'Administration
16/07/2004	PV d'Assemblée
16/07/2004	Minutes of general meeting of shareholders
31/12/2003	New accounts available
12/08/2003	Acte modificatif
12/08/2003	Nomination/démission des organes de gestion
12/08/2003	Acte sous seing privé
16/04/2003	Modification du Conseil d'Administration
16/04/2003	Acte sous seing privé
16/04/2003	Acte modificatif
16/04/2003	Nomination/démission des organes de gestion
16/04/2003	PV du Conseil d'Administration
13/11/2002	Nomination/démission des organes de gestion
13/11/2002	Acte modificatif
13/11/2002	PV du Conseil d'Administration
13/11/2002	Acte sous seing privé
02/10/2001	Statuts mis à jour
02/10/2001	PV d'Assemblée
02/10/2001	Acte sous seing privé
02/10/2001	Réduction de Capital
02/10/2001	Conversion du Capital Social en Euros
16/11/2000	Changement de Commissaire aux Comptes
16/11/2000	Nomination/démission des organes de gestion
16/11/2000	Modification du Conseil d'Administration
16/11/2000	Acte sous seing privé
16/11/2000	PV d'Assemblée
16/11/2000	Acte modificatif
20/03/2000	Statuts mis à jour
20/03/2000	Certificat de dépôt des fonds
20/03/2000	PV d'Assemblée
20/03/2000	Acte sous seing privé
20/03/2000	Statuts
20/03/2000	Augmentation de Capital
20/03/2000	Acte modificatif
14/10/1998	Acte modificatif
14/10/1998	Augmentation de Capital
14/10/1998	Statuts mis à jour
14/10/1998	Statuts
14/10/1998	PV d'Assemblée
14/10/1998	Acte sous seing privé
01/07/1997	Acte sous seing privé
01/07/1997	Acte modificatif
01/07/1997	Statuts mis à jour
01/07/1997	Statuts
01/07/1997	PV d'Assemblée
10/08/1995	Acte modificatif
10/08/1995	Statuts mis à jour
10/08/1995	Statuts
10/08/1995	PV d'Assemblée
30/12/1994	Transfert du Siège dans le ressort du Tribunal de Commerce
30/12/1994	Statuts mis à jour
30/12/1994	Augmentation de Capital
30/12/1994	Statuts
30/12/1994	PV du Conseil d'Administration
30/12/1994	Modification du Conseil d'Administration
30/12/1994	Acte modificatif
30/12/1994	Changement de Président (PDG, PCA)
30/12/1994	Nomination/démission des organes de gestion
30/12/1994	PV d'Assemblée
02/03/1992	PV du Conseil d'Administration
02/03/1992	Acte modificatif
02/03/1992	Transfert du Siège dans le ressort du Tribunal de Commerce

Establishment events history

Date	Description
06/01/2015	Update Rating
23/01/2014	Update Rating
05/10/2013	Update Limit
07/09/2013	Update Rating
04/05/2013	Update Rating
03/04/2012	Update Rating
31/12/2008	Update Rating
31/12/2008	Update Limit
24/12/2008	Update Rating
24/12/2008	Update Limit
29/09/2008	Update Rating
03/09/2008	Update Rating
09/12/2007	Update Limit
26/11/2007	Modification of Head office
05/09/2007	Update Rating
31/07/2007	Modification of Head office

directors

Name	Mme. PUNZ GABRIELE
Manager position	President	Date of birth	21/12/1972
Place of birth	FREISTADT(AUTRICHE)
Type	Individual	Name at birth

Name	M. LUNEAU FRANÇOIS GEORGES PIERRE
Manager position	Managing director	Date of birth	26/09/1968
Place of birth	LA TRONCHE(38)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Administrator	BANQUE DE VIZILLE	- - -
Administrator	MME CELINE BARBOSA	- - -
Administrator	M BRUNO LACROIX	- - -
Administrator	M FABRICE LAMY	- - -
Administrator	SOCIETE COPARMAT	- - -
Managing director	M FRANÇOIS GEORGES PIERRE LUNEAU	9/26/1968 - LA TRONCHE(38)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.89
UK Pound	1	Rs.93.92
Euro	1	Rs.72.00

INFORMATION DETAILS

Analysis Done by :	RSM
Report Prepared by :	DPT

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.