MIRA INFORM REPORT

Report No. :	304467
Report Date :	24.01.2015

IDENTIFICATION DETAILS

Name :	VOLCOM SAS
Registered Office :	Volcom, Bahia Parc, 1 All Belharra, 64600 Anglet
Country :	France
Financials (as on) :	31.12.2011
Date of Incorporation :	February 2006
Com. Reg. No.:	0 488 298 621
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Wholesale (Business to Business) Clothing and Footwear ( 4642Z )
No. of Employee :	100 to 199

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

Name

VOLCOM SAS

SIRET

488 298 621 00027

Personal comment

Company Summary

EUR VAT Number		FR32488298621
Activity (APE)	Wholesale (business to business) clothing and footwear ( 4642Z )		Legal form	Simplified Joint Stock Company with Single Associate
Phone	05 59 03 67 34		RCS Registration	RCS Bayonne 0 488 298 621
Fax	--		Share capital	4,703,600 Euros
Address	VOLCOM SAS Volcom Bahia Parc 1 All Belharra 64600 Anglet		Incorporated Date	02/2006
Nationality	France		Status	Economically active

Ultimate Holding Company
Company Name	Company number	Click here to view the affiliation links
KERING	552075020	119 companies in 17 countries. Click here to visit linked companies

Current Directors

3

Trading to Date	12/31/2011	12/31/2010	12/31/2009
Turnover	23,050,324 €	19,781,759 €	18,763,704 €
Gross Operating Surplus	5.37 % Turnover	6.16 % Turnover	6.75 % Turnover
Shareholders’ equity	-2,708,768 €	5,938,872 €	5,709,436 €
Net result	-8,611,037 €	266,038 €	-25,343 €
Employees	100 to 199 employees	-	-

COMPANY DETAILS

Company details

Activity (APE)	Wholesale (business to business) clothing and footwear ( 4642Z )
RCS Registration	RCS Bayonne 0 488 298 621	Share capital	4,703,600 Euros
Registration Court	Bayonne (64)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 6B00085	EUR VAT Number	FR32488298621
Incorporation Date	02/2006	Formation Date	01/2006
Deregistration Date		Last account Date	31/12/2011
Nationality	France

Ultimate Parent

1 ultimate parent company for this company  >  KERING  - Activités des sièges sociaux (7010Z)  in PARIS 8  (75008)

Establishment details

Activity (APE)	Fabrication d'autres vêtements et accessoires (1419Z)	Business Pages FT®
Postal Address	VOLCOM SAS  VOLCOM  BAHIA PARC  1 ALL BELHARRA  64600 ANGLET	Trading Address	1 ALLÉE BELHARRA  64600 ANGLET
Telephone	05 59 03 67 34
Fax

Type	Head office	Status	Economically active
Formation Date	06/2007	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Pyrénées-Atlantiques (64)	Region	Aquitaine
District	1	Area	90
City	ANGLET	Size of urban area	Urban unit with 100 000 to 199 999 inhabitants

Other establishments

Branches	2 branch entities in this company
Head office	> VOLCOM SAS <<<  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in ANGLET  (64600)
Secondary establishments	>  VOLCOM SAS  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in SAINT GEOURS DE MAREMNE  (40230)  >  VOLCOM SAS  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in BAYONNE  (64100)

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

Workforces

Workforce at address

50 to 99 employees

Company workforce

100 to 199 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	23/10/2012	07/09/2011	13/08/2010
Activity Code	4642Z	4642Z	4642Z
Employees	114	74	103

Active account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	6,521,772	-7.1%	7,021,106	8.1%	6,496,077	41,661	15554.4%
- Intangible assets	90,257	48.3%	60,872	-12.3%	69,439	5,500	1541.0%
- Tangible assets	5,312,673	-4.5%	5,562,844	-4.5%	5,823,236	5,237	101345.0%
- Financial assets	1,118,842	-19.9%	1,397,390	131.6%	603,402	5,515	20187.3%
Net current assets	8,605,507	50.6%	5,712,805	26.3%	4,522,789	210,148	3995.0%
- Stocks	1,750,578	59.0%	1,101,099	366.8%	235,894	53,666	3162.0%
- Advanced payments	0	50.6%	7,950	-23.0%	10,330	0	0%
- Receivables	5,197,667	62.8%	3,192,184	-5.2%	3,365,991	62,116	8267.7%
- Securities and cash	1,657,262	17.4%	1,411,570	55.0%	910,574	31,642	5137.5%
- Prepaid expenses	-	-	-	-	-	42.50	-
Accounts of regularization	0	0%	6,672	0%	0	0	0%
Total Assets	15,127,281	18.7%	12,740,584	15.6%	11,018,866	293,185	5059.6%

Passive Account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Shareholders' equity	-2,708,768	-145.6%	5,938,872	4.0%	5,709,436	58,409	-4737.6%
Share capital	4,703,600	0%	4,703,600	0%	4,703,600	8,001	58687.7%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	8,782,512	131532.4%	6,672	0%	0	0	0%
Liabilities	9,003,796	33.3%	6,755,426	33.1%	5,075,200	198,666	4432.1%
- Financial liabilities	4,161,669	11.8%	3,721,458	50.6%	2,470,382	16,305	25423.9%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2,879,718	82.8%	1,575,549	39.4%	1,129,916	67,253	4181.9%
- Tax and social liabilities	1,865,931	32.7%	1,406,466	6.8%	1,317,485	46,581	3905.8%
- Other debts and fixed assets liabilities	146,214	59.7%	91,563	-76.6%	391,643	8,360	1649.0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	15,127,281	18.7%	12,740,583	15.6%	11,018,865	293,155	5060.2%

Results

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Sales of Goods	23,203,946	16.6%	19,893,629	5.4%	18,881,078	442,305	5146.1%
Net turnover	23,050,324	16.5%	19,781,759	5.4%	18,763,704	433,346	5219.2%
- of which net export turnover	7,645,100	8.7%	7,036,345	79.9%	3,911,270	1,329	575152.1%
Operating charges	22,379,345	16.5%	19,202,744	5.4%	18,222,844	441,323	4971.0%
Operating profit/loss	824,601	19.4%	690,884	5.0%	658,234	7,556	10813.2%
Financial income	21,220	9.1%	19,450	-56.3%	44,475	0	0%
Financial charges	354,475	32.2%	268,096	-61.8%	702,580	708	49967.1%
Financial profit/loss	-333,255	-34.0%	-248,646	62.2%	-658,105	-82	-406308.5%
Pretax net operating income	491,346	11.1%	442,237	342719.4%	129	6,529	7425.6%
Extraordinary income	64,361	73.5%	37,104	1.4%	36,602	0	0%
Extraordinary charges	8,806,772	123020.0%	7,153	-19.2%	8,852	177	4975477.4%
Extraordinary profit/loss	-8,742,411	-29289.0%	29,951	7.9%	27,750	0	0%
Net result	-8,611,037	-3336.8%	266,038	1149.7%	-25,343	6,369	-135302.3%

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	15,127,281	18.7%	12,740,584	15.6%	11,018,866
	Gross	CO	18,198,107	20.9%	15,050,258	18.7%	12,677,218
	Amortisation	1A	3,070,826	33.0%	2,309,674	39.3%	1,658,352

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	6,521,772	-7.1%	7,021,106	8.1%	6,496,077
	Gross	BJ	9,530,305	2.5%	9,300,510	14.5%	8,121,595
	Amortisation	BK	3,008,533	32.0%	2,279,404	40.2%	1,625,518

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	90,257	48.3%	60,872	-12.3%	69,439
	Gross	AF	428,120	20.8%	354,441	15.4%	307,022
	Amortisation	AG	337,863	15.1%	293,569	23.6%	237,583
	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	90,257	48.3%	60,872	-12.3%	69,439

Tangilble fixed assets

			31/12/2011		31/12/2010		31/12/2009
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	3,760,455	-4.7%	3,947,743	-4.4%	4,128,668
	Gross	AP	4,615,626	0%	4,615,626	0.2%	4,608,254
	Amortisation	AQ	855,171	28.0%	667,883	39.3%	479,586
	Plant	Net	332,303	-8.5%	363,154	-6.7%	389,058
	Gross	AR	449,692	0%	449,692	1.5%	443,231
	Amortisation	AS	117,389	35.7%	86,538	59.7%	54,173
	Other tangible fixed assets	Net	1,209,048	-2.9%	1,244,830	-4.4%	1,301,712
	Gross	AT	2,474,923	7.3%	2,306,157	7.0%	2,155,888
	Amortisation	AU	1,265,875	19.3%	1,061,327	24.3%	854,176
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	10,867	52.7%	7,117	87.4%	3,798
	Gross	AX	10,867	52.7%	7,117	87.4%	3,798
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	5,312,673		5,562,844		5,823,236

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	1,104,765	-19.2%	1,366,913	3594.4%	37,000
	Gross	CU	1,537,000	0%	1,537,000	4054.1%	37,000
	Amortisation	CV	432,235	154.1%	170,087	0%	0
	Inter-company receivables	Net	0	0%	0	0%	547,130
	Gross	BB	0	0%	0	0%	547,130
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	14,077	-53.8%	30,477	58.1%	19,272
	Gross	BH	14,077	-53.8%	30,477	58.1%	19,272
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		1,118,842		1,397,390		603,402

Current Assets (III)

			31/12/2011		31/12/2010		31/12/2009
	Total Assets	Net	8,605,507	50.6%	5,712,805	26.3%	4,522,789
	Gross	CJ	8,667,798	50.9%	5,743,073	26.1%	4,555,621
	Amortisation	CK	62,291	105.8%	30,268	-7.8%	32,832

Stocks

			31/12/2011		31/12/2010		31/12/2009
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	1,750,578	59.0%	1,101,099	366.8%	235,894
	Gross	BT	1,750,578	59.0%	1,101,099	366.8%	235,894
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	1,750,578	59.0%	1,101,099	366.8%	235,894

Advance payments to suppliers

			31/12/2011		31/12/2010		31/12/2009
	Advance payments to suppliers	Net	0	0%	7,950	-23.0%	10,330
	Gross	BV	0	0%	7,950	-23.0%	10,330
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2011		31/12/2010		31/12/2009
	Trade accounts receivable	Net	4,094,404	58.1%	2,590,295	6.1%	2,440,897
	Gross	BX	4,156,695	58.6%	2,620,563	5.9%	2,473,729
	Amortisation	BY	62,291	105.8%	30,268	-7.8%	32,832
	Other debtors	Net	988,213	105.7%	480,349	-41.1%	815,421
	Gross	BZ	988,213	105.7%	480,349	-41.1%	815,421
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	5,082,617	65.5%	3,070,644	-5.7%	3,256,318

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	1,657,262	17.4%	1,411,570	55.0%	910,574
	Gross	CF	1,657,262	17.4%	1,411,570	55.0%	910,574
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	1,657,262	17.4%	1,411,570	55.0%	910,574

Prepaid expenses

			31/12/2011		31/12/2010		31/12/2009
	Prepaid expenses	Net	115,050	-5.3%	121,540	10.8%	109,673
	Gross	CH	115,050	-5.3%	121,540	10.8%	109,673
	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	0	0%	6,672	0%	0
Gross		0	0%	6,672	0%	0

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	569,489	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	15,127,281	18.7%	12,740,583	15.6%	11,018,865

Shareholder Equity (I)

			31/12/2011		31/12/2010		31/12/2009
	Total shareholders' equity (Total I)	DL	-2,708,768	-145.6%	5,938,872	4.0%	5,709,436
	Equity and shareholders' equity	DA	4,703,600	0%	4,703,600	0%	4,703,600
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	33,490	65.9%	20,188	0%	20,188
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	610,959	70.6%	358,223	-6.6%	383,566
	Profit or loss for the period	DI	-8,611,037	-3336.8%	266,038	1149.7%	-25,343
	Investment grants	DJ	554,220	-6.2%	590,823	-5.8%	627,425
	Special tax-allowable reserves	DK	0	0%	0	0%	0

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	8,782,512	131532.4%	6,672	0%	0
	Risk provisions	DP	8,782,512	131532.4%	6,672	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2011		31/12/2010		31/12/2009
	Total Liabilities (Total IV)	EC	9,003,796	33.3%	6,755,426	33.1%	5,075,200
	Convertible debentures	DS	116,156	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	0
	Sundry loans and financial liabilities	DV	4,045,513	8.7%	3,721,458	50.6%	2,470,382
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	2,879,718	82.8%	1,575,549	39.4%	1,129,916
	Tax and social security liabilities	DY	1,865,931	32.7%	1,406,466	6.8%	1,317,485
	Fixed asset liabilities	DZ	45,545	507.5%	7,497	-89.8%	73,748
	Other debts	EA	50,933	14.6%	44,456	-46.9%	83,669

Translation loss (V)

		31/12/2011		31/12/2010		31/12/2009
Translation loss (Total V)	ED	49,736	25.6%	39,610	-83.1%	234,226

Equalization accounts

		31/12/2011		31/12/2010		31/12/2009
Deferred income	EB	0	0%	0	0%	0

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%	5,442,972	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2011		31/12/2010		31/12/2009
Operating result (Total I-II)	GG	824,601	19.4%	690,884	5.0%	658,234

2 - Financial result (V - VI)

		31/12/2011		31/12/2010		31/12/2009
Financial result (Total V-VI)	GV	-333,255	-34.0%	-248,646	62.2%	-658,105

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	491,346	11.1%	442,237	342719.4%	129

4 - Extraordinary result (VII-VIII)

		31/12/2011		31/12/2010		31/12/2009
Extraordinary result (Total VII-VIII)	HI	-8,742,411	-29289.0%	29,951	7.9%	27,750

Profit or loss

		31/12/2011		31/12/2010		31/12/2009
Profit or loss	HN	-8,611,037	-3336.8%	266,038	1149.7%	-25,343

Total Income (I+III+V+VII)

		31/12/2011		31/12/2010		31/12/2009
Total Income (I+III+V+VII)	HL	23,289,527	16.7%	19,950,183	5.2%	18,962,155

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	31,900,562	62.1%	19,684,145	3.7%	18,987,500

Operating income (I)

		31/12/2011		31/12/2010		31/12/2009
Total operating income (Total I)	FR	23,203,946	16.6%	19,893,629	5.4%	18,881,078

Operating income (details)

			31/12/2011		31/12/2010		31/12/2009
	Sale of goods for resale	FC	16,020,894	19.9%	13,361,894	3.9%	12,865,852
	France	FA	15,298,828	20.6%	12,686,288	3.4%	12,267,850
	Export	FB	722,066	6.9%	675,606	13.0%	598,002
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	7,029,430	9.5%	6,419,865	8.9%	5,897,852
	France	FG	106,396	79.9%	59,126	-97.7%	2,584,584
	Export	FH	6,923,034	8.8%	6,360,739	92.0%	3,313,268
	Net turnover	FL	23,050,324	16.5%	19,781,759	5.4%	18,763,704
	France	FJ	15,405,224	20.9%	12,745,414	-14.2%	14,852,434
	Export	FK	7,645,100	8.7%	7,036,345	79.9%	3,911,270
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	136,345	25.6%	108,596	-7.3%	117,161
	Other income	FQ	17,277	428.0%	3,272	1436.2%	213

Operating charges (II)

		31/12/2011		31/12/2010		31/12/2009
Total operating charges (Total II)	GF	22,379,345	16.5%	19,202,744	5.4%	18,222,844

Exploitation charges

		31/12/2011		31/12/2010		31/12/2009
Purchase of goods for resale	FS	11,951,480	21.8%	9,809,337	8.0%	9,085,851
Change in stocks of goods for resale	FT	-649,479	24.9%	-865,204	-266.8%	-235,894
Purchase of raw materials	FU	149,453	24.1%	120,402	-10.6%	134,725
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	4,170,538	9.0%	3,825,495	18.9%	3,216,507
Tax, duty and similar payments	FX	361,629	12.9%	320,265	5.4%	303,758
Payroll	FY	4,145,390	8.3%	3,826,978	5.8%	3,617,604
Social security costs	FZ	1,683,529	10.3%	1,526,173	11.0%	1,374,967

Depreciation

		31/12/2011		31/12/2010		31/12/2009
Depreciation of fixed assets	GA	513,263	-10.3%	571,940	-8.8%	627,412
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	45,980	51.9%	30,268	38.2%	21,898
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2011		31/12/2010		31/12/2009
Other charges	GE	7,562	-79.6%	37,090	-51.2%	76,016

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	21,220	9.1%	19,450	-56.3%	44,475
	Share financial income	GJ	7,707	-58.8%	18,693	-56.2%	42,677
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	6,486	0%	0	0%	395
	Released provisions and transferred charges	GM	6,672	0%	0	0%	0
	Exchange gains	GN	355	-53.0%	756	-46.1%	1,403
	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	354,475	32.2%	268,096	-61.8%	702,580
	Financial reserves and provisions	GQ	268,730	52.0%	176,759	0%	0
	Interest and similar charges	GR	84,433	-4.6%	88,481	-87.4%	702,108
	Exchange losses	GS	1,312	-54.0%	2,855	504.9%	472
	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	64,361	73.5%	37,104	1.4%	36,602
	Extraordinary operating income	HA	0	0%	0	0%	0
	Extraordinary income from capital transactions	HB	64,361	73.5%	37,104	1.4%	36,602
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2011		31/12/2010		31/12/2009
	Total extraordinary charges (Total VIII)	HH	8,806,772	123020.0%	7,153	-19.2%	8,852
	Extraordinary operating charges	HE	335	352.7%	74	-99.1%	7,962
	Extraordinary charges from capital transactions	HF	30,507	331.0%	7,078	695.3%	890
	Extraordinary reserves and provisions	HG	8,775,930	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2011		31/12/2010		31/12/2009
Employee profit sharing (Total IX)	HJ	78,128	131.7%	33,714	0%	0

Tax on profits (X)

		31/12/2011		31/12/2010		31/12/2009
Tax on profits (Total X)	HK	281,842	63.4%	172,436	224.0%	53,224

References

		31/12/2011		31/12/2010		31/12/2009
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	122,387	61.5%	75,763	25.8%	60,241
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%	565,824	0%	0
	Decreasess by transfers	OK2	93,189	-5.2%	98,345	0%	0
	Gross value at the end of period	OL	9,530,307	2.5%	9,300,512	0%	0

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	354,441	15.4%	307,022	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	73,679	55.4%	47,419	0%	0
	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	428,120	20.8%	354,441	0%	0

Tangible fixed assets (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LN	7,378,591	2.3%	7,211,165	0%	0
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	249,304	-5.1%	262,644	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	76,788	-19.4%	95,219	0%	0
	Gross value at the end of period	NH	7,551,107	2.3%	7,378,590	0%	0

Fiancial assets (Total IV)

			31/12/2011		31/12/2010		31/12/2009
	Gross value at begin of period	LQ	1,567,477	159.8%	603,402	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	1,533,023	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	565,824	0%	0
	Decreasess by transfers	NJ2	16,400	424.8%	3,125	0%	0
	Gross value at the end of period	NK	1,551,077	-1.0%	1,567,476	0%	0

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	293,569	23.6%	237,583	0%	0
Increases		PF	44,294	-20.9%	55,985	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	337,863	15.1%	293,569	0%	0

Total fixed assets amotisation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Reserve for depreciation value at begin of period	QU	1,815,747	30.8%	1,387,933	0%	0
Increases		QV	468,966	-9.1%	515,952	0%	0
Decreases		QW	46,282	-47.5%	88,140	0%	0
	Decreasess by budget item transfer	QX	2,238,431	23.3%	1,815,749	0%	0

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	207,028	530.6%	32,832	-51.6%	67,853
Increases		UB	9,090,641	4291.0%	207,027	845.4%	21,898
Decreases		UC	20,630	-37.2%	32,832	-42.3%	56,920
	Value at the end of period	UD	9,277,039	4381.1%	207,027	530.6%	32,831

Includes Total allocations

Operating	UE	45,980	51.9%	30,268	0%	0
Financial	UG	268,730	52.0%	176,759	0%	0
Exceptional	UJ	8,775,930	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	13,957	-57.5%	32,832	0%	0
Financial	UH	6,672	0%	0	0%	0
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%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	5Z	6,672	0%	0	0%	0
Increases		TV	8,782,512	131532.4%	6,672	0%	0
Decreases		TW	6,672	0%	0	0%	0
	Value at the end of period	TX	8,782,512	131532.4%	6,672	0%	0

Total Provision for depreciation (Total III)

			31/12/2011		31/12/2010		31/12/2009
	Value at begining of period	7B	200,355	510.2%	32,832	-51.6%	67,853
Increases		TY	308,128	53.8%	200,355	814.9%	21,898
Decreases		TZ	13,957	-57.5%	32,832	-42.3%	56,920
	Value at the end of period	UA	494,526	146.8%	200,355	510.3%	32,831

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

		31/12/2011		31/12/2010		31/12/2009
Gross value	VT	5,274,036	62.1%	3,252,931	-18.0%	3,965,229
1 year at most	VU	4,690,470	45.6%	3,222,454	-5.2%	3,398,826
More than one year	VV	583,566	1814.8%	30,477	-94.6%	566,403

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%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	14,077	-53.8%	30,477	-94.6%	566,403
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2011		31/12/2010		31/12/2009
Customers doubtful or disputed	VA	110,915	134.6%	47,278	0%	0
Other claims customer	UX	4,045,779	57.2%	2,573,285	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	24,700	-7.5%	26,700	0%	0
Social Security and other social organizations	UZ	23,482	0%	0	0%	0
Income taxes	VM	0	0%	2,007	0%	0
Value added tax	VB	29,394	-16.0%	34,991	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	569,489	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	341,147	-18.1%	416,651	-87.7%	3,398,825

Prepaid

		31/12/2011		31/12/2010		31/12/2009
Prepaid	VS	115,050	-5.3%	121,540	0%	0

State Debt

			31/12/2011		31/12/2010		31/12/2009
	Total debt (gross)	VY	9,003,799	33.3%	6,755,427	33.1%	5,075,202
1 year at most		VZ2	5,497,799	1.0%	5,442,973	109.0%	2,604,820
More than 1 year and 5 years at most		VZ3	3,506,000	167.1%	1,312,454	-46.9%	2,470,382
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2011		31/12/2010		31/12/2009
	Convertible bonds (gross)	7Y1	116,156	0%	0	0%	0
1 year at most		7Y2	116,156	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	3,921,243	7.0%	3,663,240	48.3%	2,470,382
1 year at most		8A2	415,243	-82.3%	2,350,786	0%	0
More than 1 year and 5 years at most		8A3	3,506,000	167.1%	1,312,454	-46.9%	2,470,382
	Suppliers and associated accounts (gross)	8B1	2,879,718	82.8%	1,575,549	39.4%	1,129,916
1 year at most		8B2	2,879,718	82.8%	1,575,549	39.4%	1,129,916
More than 1 year and 5 years at most		8B3	2,879,718	82.8%	1,575,549	39.4%	1,129,916
	Personnel and associated accounts (gross)	8C1	609,438	-5.4%	644,017	0%	0
1 year at most		8C2	609,438	-5.4%	644,017	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	660,743	8.2%	610,777	-53.6%	1,317,485
1 year at most		8D2	660,743	8.2%	610,777	-53.6%	1,317,485
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	481,756	480.8%	82,946	0%	0
1 year at most		VW2	481,756	480.8%	82,946	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	113,993	65.9%	68,724	0%	0
1 year at most		VQ2	113,993	65.9%	68,724	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	45,545	507.5%	7,497	-89.8%	73,748
1 year at most		8J2	45,545	507.5%	7,497	-89.8%	73,748
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	124,270	113.5%	58,218	0%	0
1 year at most		VI2	124,270	113.5%	58,218	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	50,933	14.6%	44,456	-46.9%	83,669
1 year at most		8K2	50,933	14.6%	44,456	-46.9%	83,669
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Loans made during the period	VJ	2,589,874	117.1%	1,192,857	0%	0
Debt repaid during the period	VK	1,888,721	0%	0	0%	0

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%	22,992
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%	20,515	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	661,130	0%	0
Staff outside the company	YU	0	0%	150,277	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	741,744	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	2,251,825	0%	0
Total Other purchases and external	ZJ	0	0%	3,825,491	0%	0

Taxes and Fees

		31/12/2011		31/12/2010		31/12/2009
Business tax	YW	0	0%	143,670	0%	0
Other taxes and payments assimilated	9Z	0	0%	176,595	0%	0
Total taxes and fees	YX	0	0%	320,265	0%	0

VAT

		31/12/2011		31/12/2010		31/12/2009
Amount VAT collected	YY	0	0%	2,547,476	0%	0
Total VAT on goods and services	YZ	0	0%	2,585,565	0%	0

Average number of employees

		31/12/2011		31/12/2010		31/12/2009
Average number of employees	YP	114	54.1%	74	-28.2%	103

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 Median2011
Fixed Asset Financing		1.39	8.6%	1.28	5.8%	1.21	1.93	-28.0%
Global Debt		141 days	14.6%	123 days	26.8%	97 days	144 days	-2.1%
Working Capital Fund overall net		58 days	20.8%	48 days	50.0%	32 days	47 days	23.4%
Financial independence		-65.09%	-140.8%	159.58%	-31.0%	231.12%	110.02%	-159.2%
Solvability		-17.91%	-138.4%	46.61%	-10.1%	51.82%	26.12%	-168.6%
Capacity debt futures		%	-	%	-	%	743.97%	-
Coverage of current assets by net working capital overall		43.42%	-7.8%	47.07%	24.3%	37.87%	32.62%	33.1%
General Liquidity		0.85	44.1%	0.59	-54.6%	1.30	0.39	117.9%
Restricted Liquidity		1.15	35.3%	0.85	-48.5%	1.65	0.71	62.0%

Management or rotation

		31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Need background in operating working capital		31 days	47.6%	21 days	23.5%	17 days	9 days	244.4%
Treasury		26 days	0%	26 days	52.9%	17 days	6 days	333.3%
Inventory turnover of goods		56 days	27.3%	44 days	340.0%	10 days	92 days	-39.1%
Average length of credit granted to customers		65 days	54.8%	42 days	-10.6%	47 days	29 days	124.1%
Average length of credit obtained suppliers		66 days	78.4%	37 days	12.1%	33 days	61 days	8.2%
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1831 days	-
Rotation tangible assets		305.26%	13.9%	268.10%	-	%	2038.43%	-85.0%

Profitability of the business

		31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Margin trading		20.47%	-8.3%	22.33%	4.3%	21.40	32.02%	-36.1%
Profitability of the business		5.37	-12.8%	6.16	-8.7%	6.75	2.76%	94.6%
Net profit		-37.36%	-2888.1%	1.34%	1057.1%	-0.14%	1.55%	-2510.3%
Growth rate of turnover (excluding VAT)		16.52%	204.2%	5.43%	261.6%	-3.36%	0%	0%
Rates integration		32.23%	-7.5%	34.84%	-0.4%	34.97%	18.43%	74.9%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		78.47%	1.0%	77.68%	2.1%	76.08%	69.44%	13.0%
Weight interests		1.54	13.2%	1.36%	-63.6%	3.74%	0.21%	633.3%

Return on capital

		31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Cash flow from the overall profitability		3.87%	-19.5%	4.81%	59.3%	3.02%	2.02%	91.6%
Rates of economic profitability		85%	553.8%	13%	-13.3%	15%	13.31%	538.6%
Financial profitability		-2708768%	-145.6%	5938872%	4.0%	5709436%	28539%	-9591.5%
Return on investment		-568.28%	-10376.3%	5.53%	-33.2%	8.28%	10.29%	-5622.6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion 

	31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Turnover	23,050,324	16.5%	19,781,759	5.4%	18,763,704	433,346 €	5219.2%

Sales of goods	16,020,894	19.9%	13,361,894	3.9%	12,865,852
- Purchase of goods	11,951,480	21.8%	9,809,337	8.0%	9,085,851
+/- Stock of goods variation	-649,479	24.9%	-865,204	-266.8%	-235,894
Trading margin	4,718,893 €	6.8%	4,417,761 €	10.0%	4,015,895 €	114,179 €	4032.9%
	20.47 % CA	-8.3%	22.33 % CA	4.3%	21.40 % CA	33.05 % CA	-38.1%

Sale of goods produced	7,029,430	9.5%	6,419,865	8.9%	5,897,852
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	7,029,430 €	9.5%	6,419,865 €	8.9%	5,897,852 €	1,829 €	384231.9%
	30.50 % CA	-6.0%	32.45 % CA	3.2%	31.43 % CA	1.02 % CA	2890.2%

Trading margin	4,718,893	6.8%	4,417,761	10.0%	4,015,895	114,179	4032.9%
+ Period Production	7,029,430	9.5%	6,419,865	8.9%	5,897,852	1,829	384231.9%
- Purchase of raw materials	149,453	24.1%	120,402	-10.6%	134,725
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	4,170,538	9.0%	3,825,495	18.9%	3,216,507
Added value	7,428,332 €	7.8%	6,891,729 €	5.0%	6,562,515 €	86,286 €	8509.0%
	32.23 % CA	-7.5%	34.84 % CA	-0.4%	34.97 % CA	18.43 % CA	74.9%

Added value	7,428,332 €	7.8%	6,891,729 €	5.0%	6,562,515 €	86,286 €	8509.0%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	361,629	12.9%	320,265	5.4%	303,758
- Personal charges	5,828,919	8.9%	5,353,151	7.2%	4,992,571
Gross operating surplus	1,237,784 €	1.6%	1,218,313 €	-3.8%	1,266,186 €	9,885 €	12421.8%
	5.37 % CA	-12.8%	6.16 % CA	-8.7%	6.75 % CA	2.76 % CA	94.6%

Gross operating surplus	1,237,784 €	1.6%	1,218,313 €	-3.8%	1,266,186 €	9,885 €	12421.8%
+ Release of reserves and provisions	136,345	25.6%	108,596	-7.3%	117,161
+ Other operating income	17,277	428.0%	3,272	1436.2%	213
- Depreciation/Amortisation	559,243	-7.1%	602,208	-7.3%	649,310
- Other charges	7,562	-79.6%	37,090	-51.2%	76,016
Operating result	824,601 €	19.4%	690,883 €	5.0%	658,234 €	7,554 €	10816.1%
	3.58 % CA	2.6%	3.49 % CA	-0.6%	3.51 % CA	2.06 % CA	73.8%

Operating result	824,601 €	19.4%	690,883 €	5.0%	658,234 €	7,554 €	10816.1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	21,220	9.1%	19,450	-56.3%	44,475
- Financial charges	354,475	32.2%	268,096	-61.8%	702,580
Pre-tax result	491,346 €	11.1%	442,237 €	342719.4%	129 €	6,508 €	7449.9%
	2.13 % CA	-4.9%	2.24 % CA	0%	0.00 % CA	1.70 % CA	25.3%

Extraordinary income	64,361	73.5%	37,104	1.4%	36,602	0	0%
- Extraordinary charges	8,806,772	123020.0%	7,153	-19.2%	8,852
Extraordinary result	-8,742,411 €	-29289.0%	29,951 €	7.9%	27,750 €	0 €	0%
	-37.93 % CA	-25386.7%	0.15 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	491,346 €	11.1%	442,237 €	342719.4%	129 €	6,508 €	7449.9%
Extraordinary result	-8,742,411 €	-29289.0%	29,951 €	7.9%	27,750 €	0 €	0%
- Employee profit sharing	78,128	131.7%	33,714	0%	0
- Tax on profits	281,842	63.4%	172,436	224.0%	53,224
Net result	-8,611,035 €	-3336.8%	266,038 €	1149.7%	-25,345 €	6,257 €	-137722.4%
	-37.36 % CA	-2888.1%	1.34 % CA	1057.1%	-0.14 % CA	1.55 % CA	-2510.3%

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	25/03/2008
Status of Monitoring	This company is under monitoring with at least one active preferential right
Number of active preferential rights	1
Total amount	1,115,241 EUR
Due remaining amount	1,115,241 EUR

Tax office preferential rights

Number of active preferential rights	1
Total amount	1,115,241 EUR
Due remaining amount	1,115,241 EUR
Date of last preferential right	13/02/2014

Active

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

201400007

13/02/2014

13/02/2018

MR LE COMPTABLE DE LA DIRECTION DES GRANDES ENTREPRISES 8 RUE COURTOIS 93505 PANTIN CEDEX

1,115,241 EUR

1,115,241 EUR

Court	Bayonne
Description	DESIGNATION DU BIEN NANTI : DOSSIER 672234-IFU1
Creditor	MR LE COMPTABLE DE LA DIRECTION DES GRANDES ENTREPRISES 8 RUE COURTOIS 93505 PANTIN CEDEX
Debtor	VOLCOM  1 ALLEE BELHARRA 64600 BAIA PARK, ANGLET
Pledges
Interest rate	0

Group data

Ultimate parent company	KERING
Direct parent	VOLCOM INTERNATIONAL SARL - 100 %
Group – Number of companies	437
Linkages – Number of companies	119
Number of countries	17

Group Structure

Company Name	Parts	Last account published
KERING	-	31/12/2008
REDCATS	100%	31/12/2010
CYRILLUS (SUISSE) SA	100%	-
ELLOS GROUP AB	100%	31/12/2013
REDCATS	100%	-
BARBICAN BV	100%	-
SAS LES AUBAINES MAGASINS	100%	31/12/2013
CYRILLUS	100%	31/12/2013
CYRILLUS JAPON	100%	-
CYRILLUS BENELUX SA	100%	31/12/2013
SOMEWHERE	100%	31/12/2011
CYRILLUS DEUTSCHLAND GMBH	100%	31/12/2010
REDOUTE VERSAND GMBH	100%	-
REDCATS BETEILIGUNG GMBH	100%	-
LA REDOUTE MAG	100%	31/12/2013
VBMAG	100%	31/12/2013
CYRILLUS (UK) LIMITED	100%	31/12/2013
REDCATS ASIA LIMITED	100%	-
THOMAS INDUSTRIES	100%	31/12/2013
REDCATS INTERNATIONAL HOLDING	100%	31/12/2011
REDCATS PORTUGAL	100%	-
REDCATS SUISSE SA	100%	-
MOVITEX	100%	31/12/2012
MOVITEX (UK) LIMITED	100%	31/12/2013
LES TROUVAILLES	100%	31/12/2013
REDCATS (UK) LIMITED	100%	31/12/2013
REDCATS	100%	-
REDOUTE UK	100%	-
EMPIRE STORES (BRADFORD) LIMITED	100%	31/12/2003
EMPIRE STORES MERCHANDISE LTD	100%	-
REDCATS 2013 LIMITED	100%	31/12/2013
EMPIRE CATALOGUES LTD	100%	-
EMPIRE DIRECT LTD	100%	-
EMPIRE HOME SHOPPING LTD	100%	-
REDCATS FINANCE LIMITED	100%	31/12/2013
EMPIRE SHOPPER LTD	100%	-
HOLDSWORTH COLLECTIONS LIMITED	100%	31/12/2013
REDCATS INTERNATIONAL	100%	31/12/2011
REDCATS MANAGEMENT SERVICES	100%	31/12/2011
REDCATS ESPAÑA	100%	31/12/2013
DIAM	100%	31/12/2013
LA REDOUTE SVERIGE AB	100%	31/12/2013
REDCATS ITALY SOCIETA' A RESPONSAB...	100%	31/12/2012
ELLOS FINLAND OY	100%	31/12/2013
SADAS	100%	31/12/2013
SNC LES DEFIS DE VERT BAUDET	99.99%	31/12/2013
VERTBAUDET DEUTSCHLAND GMBH	50%	31/12/2011
VERTBAUDET GMBH & CO	50%	-
REDCATS INTERNATIONAL HOLDING B.V.	100%	31/12/2009
ELLOS FINANS AB	100%	31/12/2013
REDCATS DO BRASIL	100%	-
REDCATS	100%	-
REDCATS USA DROP SHIP	100%	-
VLP CORPORATION	100%	-
S.P.S. INVESTMENT, LLC	100%	-
BNY SERVICE CORPORATION	100%	-
REDCATS USA MANAGEMENT SERVICES LP	100%	-
JESSICA LONDON INC	100%	-
UNITED RETAIL HOLDING CORP	100%	-
UNITED RETAIL DISTRIBUTION SERVICE...	100%	-
UNITED RETAIL INC.	100%	-
UNITED RETAIL LOGISTIC OPERATION I...	100%	-
AVENUE GIFT CARDS INC.	100%	-
REDCATS MANAGEMENT CONSULTING (SHA...	100%	-
REDCATS INDIA PRIVATE LIMITED	100%	-
REDCATS TEKSTIL ITHALAT VE IHRACAT...	100%	-
REF BRESIL	99.90%	31/12/2010
REDCATS (BRANDS) LIMITED	100%	31/12/2013
REDCATS USA GIFT CARD	100%	-
TGW MANAGEMENT SERVICES INC	100%	-
THE SPORTMAN'S GUIDE OUTLET INC	100%	-
TSG MANAGEMENT SERVICES, INC	100%	-
REDCATS ASIA GLOBAL SOURCING SERVI...	100%	-
GIORNICA	100%	31/12/2011
RUSA TEXAS LLC	100%	-
REDCATS BUSINESS DEVELOPMENT	100%	31/12/2011
REDCATS USA CANADA HOLDING INC	100%	-
REDCATS COMMERCE ET TRADING	100%	-
PUMA	80%	-
PUMA VERTRIEB GMBH	100%	-
PUMA FRANCE SAS	100%	31/12/2012
PUMA SPEEDCAT	100%	31/12/2012
PUMA SPRINT GMBH	100%	-
PUMA AVANTI GMBH	100%	-
PUMA MOSTRO GMBH	100%	-
PREMIER FLUG GMBH & CO. KG	50%	31/12/2012
AUSTRIA PUMA DASSLER GES. MBH	100%	-
PUMA BULGARIA EOOD	100%	-
PUMA SPORT HRVATSKA DOO	100%	-
PUMA DENMARK A/S	100%	-
PUMA ESTONIA	100%	-
PUMA FINLAND OY	100%	31/12/2013
TRETORN FINLAND OY	100%	31/12/2013
PUMA UNITED KINGDOM LTD	100%	31/12/2013
PUMA PREMIER LTD	100%	31/12/2013
PUMA HELLAS SA	100%	-
PUMA HUNGARY KFT.	100%	-
TRETORN R&D LTD	100%	-
PUMA ITALIA S.R.L.	100%	31/12/2013
PUMA BALTIC UAB	100%	-
PUMA MALTA LTD	100%	-
PUMA BLUE SEA LTD	100%	-
PUMA RACING LTD	100%	-
PUMA NORWAY AS	100%	31/12/2013
PUMA BENELUX B.V.	100%	31/12/2012
PUMA POLSKA SPOLKA ZOO	100%	-
PUMA PORTUGAL ARTIGOS DESPORTIVOS ...	100%	-
PUMA CZECH REPUBLIC SRO	100%	-
PUMA SPORT ROMANIA SRL	100%	-
PUMA-RUS GMBH	100%	-
PUMA SLOVAKIA SRO	100%	-
PUMA LJUBLJANA TRGOVINA DOO	100%	-
HUNT SPORT AKTIEBOLAG	100%	31/12/2013
TRETORN AKTIEBOLAG	100%	31/12/2013
PUMA NORDIC AB	100%	31/12/2013
TRETORN SWEDEN AB	100%	31/12/2013
MOUNT PUMA AG	100%	-
PUMA RETAIL AG	100%	-
PUMA SCHWEIZ AG	100%	-
PUMA UKRAINE LTD	100%	-
UNISOL SA	100%	-
PUMA SPORTS LTDA	100%	-
PUMA CANADA INC.	100%	-
PUMA CHILE SA	100%	-
PUMA SUÈDE HOLDING INC.	100%	-
PUMA NORTH AMERICA, INC	100%	-
LIBERTY CHINA HOLDING LTD	100%	-
PUMA MEXICO SPORT SA DE CV	100%	-
SERVICIOS PROFESIONALES RDS	100%	-
DISTRUIBUIDORA DEPORTIVA PUMA SAC	100%	-
PUMA SPORTS LA	100%	-
PUMA SPORTS DISTRIBUTORS (PTY) LIM...	100%	-
PUMA SPORTS S.A.	100%	-
PUMA AUSTRALIA PTY LTD	100%	-
WHITE DIAMOND AUSTRALIA PTY LTD	100%	-
WHITE DIAMOND PROPERTIES	100%	-
KALOLA PTY LTD	100%	-
PUMA NEW ZEALAND LTD	100%	-
PUMA MIDDLE EAST FZ LLC	100%	-
PUMA UAE LLC	100%	-
PUMA SPOR GIYIM SANANYI VE TICARET	100%	-
PUMA CHINA LTD	100%	-
WORLD CAT LTD	100%	-
DEVELOPMENT SERVICES LTD	100%	-
PUMA ASIA PACIFIC LTD	100%	-
PUMA HONG KONG LTD	100%	-
PUMA SPORTS INDIA PVT LTD	100%	-
WORLD CAT SOURCING INDIA LTD	100%	-
PUMA JAPAN KK	100%	-
PUMA KOREA LTD	100%	-
PUMA SPORTS GOODS SDN. BHD.	100%	-
PUMA SPORTS SINGAPORE PTE LTD	100%	-
PUMA TAIWAN SPORTS LTD	100%	-
BRANDON COMPANY AB	100%	31/12/2013
PUMA CYPRUS LTD	100%	-
PUMA SERVICIOS SPA	100%	-
WORLD CAT VIETNAM CO LTD	100%	-
DOBOTEX INTERNATIONAL B.V.	100%	31/12/2013
DOBOTEX FRANCE	100%	31/12/2013
PUMA SERBIA DOO	100%	-
DOBOTEX ÖSTERREICH GMBH	100%	-
BRANDON GERMANY GMBH	100%	31/12/2012
DOBOTEX DEUTSCHLAND GMBH	100%	31/12/2013
BRANDON MERCHANDISING UK	100%	-
DOBOTEX B.V.	100%	31/12/2013
DOBO LOGIC B.V.	100%	31/12/2012
DOBOTEX LICENSING HOLDING B.V.	100%	31/12/2012
BRANDON AS	100%	03/12/2012
BRANDON AB	100%	31/12/2013
2EXPRESSIONS MERCHANDISE SVENSKA A...	100%	31/12/2013
BRANDON SERVICES AB	51.20%	31/12/2012
BRANDON STOCKHOLM AB	100%	31/12/2011
BRANDON LOGISTICS AB	100%	31/12/2011
BRANDON OY	100%	-
DOBOTEX SWITZERLAND AG	100%	-
SC COMMUNICATION, INC	100%	-
DOBOTEX CHINA LTD	100%	-
DOBOTEX LTD	100%	-
DOBO CAT	100%	-
DOBOTEX ITALIA S.R.L.	100%	31/12/2013
COBRA GOLF INCORPORATED	100%	-
BRANDON GERMANY GMBH	100%	31/12/2012
TRETORN NORWAY AS	100%	-
PUMA IBERIA	100%	31/12/2013
IMPORTACIONES RDS S.A. DE C.V	100%	-
PUMA INDIA RETAIL PVT	100%	-
DOBOTEX KOREA LTD	100%	-
DOBOTEX (UK) LIMITED	100%	31/12/2013
DOBOTEX SPAIN	100%	31/12/2013
DISTRIBUIDORA DEPORTIVA PUMA TACNA...	100%	-
PUMA WHEAT ACCESSORIES LTD	51%	-
JANED LLC	51%	-
GUANGZHOU WORLD CAT INFORMATION CO...	100%	-
TREMI	99.80%	31/12/2013
CULTURA COMUNIZACIONE SA	100%	-
PPR INTERNATIONAL	40%	-
PPR ASIA	92.86%	-
KERING FINANCE	100%	31/12/2012
SOCIETE CIVILE BERGSON	Min blocking	-
MELITTE	99.83%	31/12/2012
KERING NETHERLANDS B.V.	100%	31/12/2010
REXCOURTA S.P.A. IN LIQUIDAZIONE	100%	31/12/2012
KERING PURCHASING	50%	31/12/2011
KERING HOLLAND N.V.	99.93%	31/12/2012
BALENCIAGA S A	100%	31/12/2013
GG LUXURY GOODS GMBH	100%	31/12/2012
YVES SAINT LAURENT GERMANY GMBH	100%	31/12/2012
BOTTEGA VENETA GERMANY GMBH	100%	31/12/2013
GG LUXURY GOODS MAXIMILIANSTRASS...	100%	31/12/2010
GUCCI AMERICA INC	100%	-
SERGIO ROSSI	100%	-
STELLA MCCARTNEY AMERICA, INC	100%	-
YVES SAINT LAURENT AMÉRICA INC.	100%	-
YVES SAINT LAURENT AMERICA HOL...	100%	-
BALENCIAGA AMERICA INC.	100%	-
GUCCI NORTH AMERICA HOLDINGS INC...	100%	-
LUXURY GOODS SPAIN	100%	31/12/2013
LUXURY TIMEPIECES ESPAÑA	100%	31/12/2011
YVES SAINT LAURENT SPAIN	100%	31/12/2013
BOTTEGA VENETA ESPAÑA	100%	31/12/2013
NOGA LUXE	100%	31/12/2013
SERGIO ROSSI ESPANA SL	100%	-
GUCCI INTERNATIONAL N.V.	100%	-
GEMINI ARUBA NV	100%	-
GUCCI PARTICIPATION B.V.	100%	-
OLIMA B.V.	100%	-
GUCCI NETHERLANDS B.V.	100%	-
KERING ASIAN HOLDING B.V.	100%	-
GUCCIO GUCCI S.P.A.	100%	31/12/2012
GUCCI LOGISTICA SOCIETA' PER AZI...	100%	31/12/2012
PAOLETTI SRL	100%	-
GUCCI IMMOBILIARE LECCIO SRL	100%	31/12/2012
SERGIO ROSSI SPA	100%	31/12/2013
CALZATURIFICIO CREST S.R.L.	100%	31/12/2012
G.F. SERVICES S.R.L.	100%	31/12/2012
GUCCI GROUP ITALIA HOLDING SPA	100%	-
BLU TONIC SPA	51%	-
TIGER FLEX S.R.L.	100%	31/12/2012
CAPRI GROUP S.R.L.	100%	31/12/2010
PIGINI S.R.L.	100%	31/12/2013
DESIGN MANAGEMENT S.R.L.	100%	31/12/2012
LUXURY GOODS ITALIA S.P.A.	100%	31/12/2012
G.F. LOGISTICA S.R.L..	100%	31/12/2012
CARAVEL PELLI PREGIATE S.P.A.	100%	31/12/2012
YVES SAINT LAURENT DEVELOPMENT S...	100%	31/12/2012
BARUFFI S.R.L.	100%	31/12/2013
LUXURY GOODS OUTLET S.R.L.	100%	31/12/2012
GAUGUIN S.R.L.	100%	31/12/2013
GUCCI FINANZIARIA SPA	100%	-
SERGIO ROSSI MANUFACTURING S.R.L...	100%	31/12/2013
SERGIO ROSSI RETAIL S.R.L.	100%	31/12/2012
GGW ITALIA S.R.L.	100%	31/12/2012
GRG S.R.L.	100%	31/12/2012
LUXURY GOODS OUTLET EUROPE SAGL	100%	-
LUXURY TIMEPIECES (CANADA) INC	100%	-
LUXURY GOODS INTERNATIONAL SA	100%	-
LUXURY GOODS OPÉRATIONS	51%	-
LUXURY TIMEPIECES INTERNATIONAL ...	100%	-
LUXURY GOODS LOGISTIC SA	51%	-
GUCCI GROUP WATCHES TAIWAN LIMITED	100%	-
GUCCI SHOPS OF CANADA INC.	100%	-
YVES SAINT LAURENT UK LIMITED	100%	31/12/2013
GUCCI GROUP GUAM INC.	100%	-
GUCCI AUSTRIA GMBH	100%	-
GUCCI AUSTRALIA PTY LTD	100%	-
GUCCI IRELAND LIMITED	100%	28/02/2014
SAM YVES SAINT LAURENT OF MONACO	100%	-
GUCCI SAM	100%	-
GUCCI LIMITED	100%	31/12/2013
SERGIO ROSSI UK LIMITED	100%	31/12/2013
BIRDSWAN SOLUTIONS LIMITED	100%	31/12/2013
STELLA MCCARTNEY LTD	100%	31/12/2013
ALEXANDER MCQUEEN TRADING LIMITE...	100%	31/12/2013
KERING UK SERVICES LIMITED	100%	31/12/2013
LUXURY TIMEPIECES (UK) LTD	100%	31/12/2013
PAINTGATE LIMITED	100%	31/12/2013
AUTUMNPAPER LIMITED	100%	31/12/2013
BALENCIAGA UK LTD	100%	31/12/2013
GUCCI (MALAYSIA) SDN BHD	100%	-
GUCCI SINGAPORE PTE LIMITED	100%	-
GUCCI BELGIUM SA	100%	31/12/2012
GUCCI BELGIUM SA	100%	31/12/2013
GUCCI GROUP KOREA LTD	100%	-
GUCCI BOUTIQUES INC	100%	-
G COMMERCE EUROPE S.P.A.	100%	31/12/2012
KERING LUXEMBOURG S.A.	100%	31/12/2012
SERGIO ROSSI INTERNATIONAL S.À R...	100%	31/12/2010
GG FRANCE HOLDING	100%	31/12/2012
GUCCI FRANCE	100%	31/12/2013
GUCCI GROUP WATCHES FRANCE	100%	31/12/2012
BOTTEGA VENETA FRANCE	100%	31/12/2013
YVES SAINT LAURENT PARFUMS	100%	31/12/2013
YVES SAINT LAURENT	100%	31/12/2013
YVES ST LAURENT BOUTIQUE F...	100%	31/12/2013
SAPRODIS SERVICES	100%	31/12/2012
C.MENDES	100%	31/12/2013
YSL BEAUTE CONSULTING	100%	31/12/2013
YSL VENTES PRIVEES FRANCE	100%	31/12/2013
GG FRANCE SERVICES	100%	31/12/2013
GG FRANCE 10	100%	31/12/2013
ALEXANDER MCQUEEN FRANCE	100%	31/12/2013
BOUCHERON HOLDING	100%	31/12/2013
BOUCHERON LUXEMBOURG S.À R.L.	100%	31/12/2010
BOUCHERON TAÏWAN CO LTD	100%	-
BOUCHERON JOAILLERIE (USA) INC	100%	-
BOUCHERON	100%	31/12/2013
LES BOUTIQUES BOUCHERON	100%	31/12/2013
BOUCHERON (UK) LIMITED	100%	31/12/2013
GG FRANCE 13	100%	31/12/2013
BOUCHERON PARFUMS SAS	100%	31/12/2013
GUCCI THAÏLAND CO. LTD	100%	-
GUCCI GROUP (HONG KONG) LIMITED	100%	-
LUXURY TIMEPIECES (HONG KONG) LI...	100%	-
GUCCI GROUP JAPAN HOLDING LIMITED	100%	-
GUCCI YUGEN KAISHA	100%	-
LUXURY TIMEPIECES JAPAN LIMITED	100%	-
GUCCI GROUP JAPAN LIMITED	100%	-
BOTTEGA VENETA S.R.L.	100%	31/12/2013
BOTTEGA VENETA GUAM	100%	-
BOTTEGA VENETA INC	100%	-
B.V. SERVIZI S.R.L.	100%	31/12/2013
B.V. ITALIA S.R.L.	100%	31/12/2013
BOTTEGA VENETA U.K. CO. LIMITED	100%	31/12/2013
BOTTEGA VENETA SINGAPORE PRIVATE...	100%	-
BOTTEGA VENETA HONG KONG LTD	100%	-
BOTTEGA VENETA KOREA LTD	100%	-
BOTTEGA VENETA JAPAN LTD	100%	-
BOTTEGA VENETA INTERNATIONAL S.À...	100%	31/12/2012
GUCCI HUNGARY KFT	100%	-
G.T. S.R.L.	100%	31/12/2013
BOUCHERON SAM	100%	-
BOTTEGA VENETA ASIAN TRADE B.V.	100%	-
LUXURY GOODS CZECH REPUBLIC SRO	100%	-
BOUCHERON (SUISSE) SA	100%	-
GUCCI GROUP WATCHES INC.	100%	-
GUCCI CARIBBEAN INC.	100%	-
LUXURY HOLDINGS, INC	100%	-
GUCCI MEXICO SA DE CV	100%	-
GUCCI IMPORTACIONES SA DE CV	100%	-
RETAIL LUXURY SERVICIOS SA DE CV	100%	-
GUCCI (CHINA) TRADING LIMITED	100%	-
GUCCI INDIA PRIVATE LIMITED	100%	-
BOTTEGA VENETA MALAYSIA SDN BHD	100%	-
B.V. OUTLETS	100%	-
STELLA MCCARTNEY ITALIA SRL	100%	31/12/2012
SOWIND GROUP S.A.	50%	-
GUCCI SWEDEN AB	100%	31/12/2013
GUCCI BRAZIL IMPORTACAO E EXPORTAC...	100%	-
GUCCI NEW ZEALAND LTD	100%	-
BOTTEGA VENETA CHINA TRADING LTD	100%	-
BOTTEGA VENETA MACAU LTD	100%	-
GUCCI MACAU LIMITED	100%	-
BALENCIAGA JAPAN LTD	100%	-
SERGIO ROSSI BELGIUM SPRL	100%	31/12/2012
BALENCIAGA FASHION SHANGAI CO LTD	100%	-
GPA S.R.L.	100%	31/12/2010
BOTTEGA VENETA HOLDING B.V.	100%	-
BOTTEGA VENETA MEXICO S DE RL DE C...	100%	-
BOTTEGA VENETA AUSTRALIA PTY LTD	100%	-
BALENCIAGA ASIA PACIFIC LIMITED	100%	-
GUCCI GROUP ASIA PACIFIC LIMITED	100%	-
YVES SAINT LAURENT (SHANGHAI) TRAD...	100%	-
LUXURY GOODS RETAIL PRIVATE LGR	51%	-
LUXURY GOODS KUWAIT WLL	49%	-
LUXURY GOODS QATAR LLC	49%	-
PPR LATIN AMERICA	99.76%	-
STELLA MAC CARTNEY FRANCE	100%	31/12/2013
PRODISTRI	100%	31/12/2011
SNC SAVOISIENNE	99%	31/12/2013
DISCODIS	100%	31/12/2012
PPR INTERNATIONAL	60%	-
PPR ASIA	92.86%	-
SOCIETE CIVILE BERGSON	Min blocking	-
KERING PURCHASING	50%	31/12/2011
SOC COMMERCE FINANCEMENT PROMOTION	100%	31/12/2013
DISCODIS INTERNATIONAL SA	40%	-
PRINTEMPS RÉASSURANCE	100%	31/12/2013
PPR LUXEMBOURG	100%	-
SNC CONSEIL ET ASSISTANCE	100%	31/12/2013
AUGUSTIN	99%	31/12/2013
ALORIS	99%	31/12/2013
SAPARDIS SE	100%	31/12/2013
BILLETTERIE HOLDING	100%	-
KERING HAUTE PARFUMERIE	99.80%	31/12/2013
SOCIETE CIVILE ZINNIA	99%	-
VOLCOM, INC	100%	-
VOLCOM RETAIL INC.	100%	-
VOLCOM ENTERTAINMENT	100%	-
LS&S RETAIL INC.	100%	-
VOLCOM OUTLET	100%	-
ELECTRIC VISUAL ÉVOLUTION LLC	100%	-
VOLCOM INTERNATIONAL SÀRL	100%	-
VOLCOM SAS	100%	31/12/2011
VOLCOM RETAIL FRANCE	100%	31/12/2012
WELCOM DISTRIBUTION SARL	100%	-
VOLCOM DISTRIBUTION SPAIN	100%	31/12/2011
ELECTRIC VISUAL ÉVOLUTION SPAIN	100%	-
ELECTRIC EUROPE	100%	31/12/2013
VOLCOM DISTRIBUTION (UK) LIMITED	100%	31/12/2013
VOLCOM RETAIL (UK) LIMITED	100%	31/12/2013
VOLCOM AUSTRALIA HOLDING COMPANY P...	100%	-
VOLCOM AUSTRALIA PTY LTD	100%	-
ELECTRIC VISUAL ÉVOLUTION AUSTRALI...	100%	-
VOLCOM NEW ZEALAND LIMITED	100%	-
ELECTRIC VISUAL EVOLUTION NEW ZEAL...	100%	-
VOLCOM JAPAN GODOGAISHIYA	100%	-
BRIONI S.P.A.	100%	31/12/2013
SOWIND FRANCE	50%	31/12/2013
TRADEMA GMBH	50%	-
GARPE S.R.L.	100%	31/12/2012
GJP S.R.L.	100%	31/12/2012
MANIFATTURA VENETA PELLETTERIE S.R.L...	51%	31/12/2013
CASTERA SARL	100%	-
GG MIDDLE EAST B.V.	100%	-
SOWIND ITALIA S.R.L.	50%	31/12/2013
SOWIND S.A.	50%	-
TRAMOR S.R.L.	100%	31/12/2013
BOTTEGA VENETA HOLDING LTDA	100%	-
BOTTEGA VENETA SHANGAI COMMERCIAL EN...	100%	-
GUCCI (SHANGAI) ENTERPRISE MANAGEMEN...	100%	-
GUCCI WATCHES MARKETING CONSULTING (...	100%	-
SERGIO ROSSI (SHANGAI) TRADING LTD	100%	-
SOWIND ASIA LTD	50%	-
BOTTEGA VENETA SERVICIOS S. DE R.L. ...	100%	-
ALEXANDER MCQUEEN (HONG KONG) LIMITE...	51%	-
LUXURY GOODS GULF LLC	49%	-
LUXURY GOODS GREECE AE	51%	-
LUXURY GOODS SERVICES SA	100%	-
PPR ASIA LIMITED	100%	-
PPR AMERICAS	100%	-
BLITZSTART	100%	-
KERING ITALIA S.P.A.	100%	31/12/2012
KERING SERVICE ITALIA S.P.A.	100%	31/12/2012
CHRISTOPHER KANE LIMITED	51%	31/12/2012
FRANCE CROCO	Majority	31/12/2013
KERNIC-MET B.V.	100%	31/12/2013
POMELLATO SPA	Majority	-
ULYSSE NARDIN SA	Majority	-

Shareholders

Company Name	Last account	Turnover
FINANCIERE MAROTHI	31/12/2011	0 €
FNAC SA	31/12/2013	2 266 564 449 €
PUMA SE	31/12/2013	-
KERING INTERNATIONAL LIMITED	31/12/2013	1 631 306 £
ELLOS AB	31/12/2013	2 118 606 KSEK
ACCO-REXEL GROUP SERVICES LIMITED	31/12/2013	0 £
NOBO GROUP LIMITED	31/12/2013	0 £
ROMAN STYLE S.P.A.	31/12/2013	70 057 597 €
SFORZA SOCIETA' A RESPONSABILITA' LIMITA...	31/12/2013	24 016 622 €
KERING EYEWEAR S.P.A.	-	-
BURINI - SOCIETA' A RESPONSABILITA' LIMI...	31/12/2013	8 234 979 €
ACCO EUROPE LIMITED	31/12/2013	0 £
ACCO BENELUX B.V.	31/12/2013	-
CONCERIA BLUTONIC S.P.A.	31/12/2012	30 052 528 €
ACUSHNET GMBH	31/12/2012	21 082 716 €
BRIONI UK LIMITED	31/12/2012	4 185 451 £
BRIONI RETAIL EUROPA S.R.L.	31/12/2013	2 567 411 €
NEGOZI RICHARD GINORI S.R.L.	31/12/2012	3 584 873 €
ACUSHNET SVERIGE AKTIEBOLAG	31/12/2013	140 939 KSEK
ARDORA SRL	31/12/2013	1 447 787 €
TRETORN NORWAY AS	31/12/2013	16 350 KNOK
GT S.R.L.	31/12/2012	12 871 547 €
B.V. CALZATURE S.R.L.	31/12/2013	15 911 636 €
BV OUTLET S.R.L.	31/12/2013	27 656 765 €
ALTO VICENTINO PELLETTERIE S.R.L. UNIPER...	31/12/2013	8 943 354 €
GAUGUIN S.R.L.	31/12/2012	1 939 330 €
YVES SAINT LAURENT INTERNATIONAL B.V.	31/12/2013	-
BRIONI RETAIL SPAGNA S.R.L.	31/12/2013	5 332 943 €
MAXXIUM WORLDWIDE B.V.	31/03/2014	-
JOTEX SWEDEN AB	31/12/2013	247 702 KSEK
G.F. SERVICES SRL	31/12/2012	36 644 201 €
CYRILLUS INTERNATIONAL	31/12/2006	88 229 742 €
ACCO-REXEL LIMITED	31/12/2013	-
TRADEMA GMBH	01/01/2014	-
PIGINI S.R.L.	31/12/2012	47 676 165 €
CALZATURIFICIO FLORA S.R.L.	31/12/2012	19 810 914 €
GPA S.R.L.	31/12/2012	13 307 122 €
ACUSHNET NEDERLAND B.V.	31/12/2013	-
WILDLIFE WORKS CARBON B.V.	31/12/2013	-
BOURBON WAREHOUSE NETHERLANDS B.V.	31/12/2012	-
JIM BEAM BRANDS NETHERLANDS B.V.	31/12/2012	-
RICHARD GINORI EUROPE S.R.L.	-	-
BALENCIAGA RETAIL ITALIA S.R.L.	-	-
SL LUXURY RETAIL S.R.L.	-	-
BRIONI RETAIL S.R.L.	31/12/2013	2 403 724 €
FOLKE FASHION AB	31/12/2013	0 KSEK
ELLOS HOLDING AB	31/12/2013	931 KSEK
ENC HOLDING AB	31/12/2013	0 KSEK
KERING INVESTMENT II B.V.	31/12/2013	-
KERING INVESTMENT I B.V.	31/12/2013	-
BRANDON MERCHANDISING UK LIMITED	31/12/2013	1 980 278 £
LA REDOUTE (UK) LIMITED	31/12/2013	-
ACCO EASTLIGHT LIMITED	31/12/2013	-
NOBO (UK) LIMITED	31/12/2009	-
SOWIND UK LIMITED	31/03/2012	-
ELLOS TILI OY	-	-
ACINO HOLDING AG	-	-
JEANRICHARD S.A.	-	-
MOVITEX EN LIQUIDATION SA	31/12/2008	14 844 518 €
SADAS BELGIQUE SA	31/12/1999	-
GG OTHER TERRITORIES B.V.	-	-
TOMAS MAIER INTERNATIONAL B.V.	-	-
SOWIND SERVICES S.A.	-	-
SOWIND MANUFACTURES S.A.	-	-
ATELIERS BAUTTE S.A.	-	-
PUMA NORDIC AB	-	-
YSL BEAUTE GMBH	-	-
NHB INDUSTRIES, INC	-	7 000 000 $
BOONE INTERNATIONAL INC	-	26 000 000 $
CAPITAL CABINET CORP	-	0 $
OSP GROUP, INC	-	0 $
ELECTRIC VISUAL EVOLUTION LLC	-	23 500 000 $
WILD HORSE WINERY & VINEYARDS	-	14 445 000 $
L S & S ALISO VIEJO INC	-	2 143 000 $
BOUCHERON JOALLERIE INC	-	158 000 $
BARGAIN CATALOG OUTLET	-	0 $
ALC HOLDING CORP	-	0 $
SERGIO ROSSI USA, INC	-	1 184 000 $
ALEXANDER MCQUEEN TRADING LIMITED	-	0 $
TRETORN	-	38 000 $
BRIONI ROMAN STYLE USA CORP	-	3 201 000 $
THE MCNEILL GROUP, LIMITED PARTNERSHIP	-	2 006 000 $
UNITED RETAIL INCORPORATED	-	438 738 000 $
YSL BEAUTE, INC	-	0 $
FORTUNE BRANDS HOME & HARDWARE LLC	-	0 $
BOURBON WAREHOUSE RECEIPTS INC	-	30 000 000 $
VOLCOM RETAIL, INC	-	2 316 000 $
OSP GROUP, L.P	-	0 $
UNITED RETAIL GROUP, INC	-	0 $
VOLCOM RETAIL OUTLETS, INC	-	0 $
GUCCI GROUP WATCHES, INC	-	0 $
OSP GROUP TEXAS, LLC	-	0 $
GUCCI GROUP WATCHES, INC	-	0 $
BOUCHERON HOLDING SA	-	-
BRANDON HONGKONG LTD	-	-
BRANDON USA INC	-	-
BRIONI ROMAN STYLE	-	-
CIDRON IVD SARL	-	-
ELLOS DENMARK A/S	-	-
ELLOS FINLAND OY	-	-
ELLOS HOLDING NORWAY A/S	-	-
GIRARD-PERREGAUX	-	-
KERING LUXEMBOURG SA	-	-
KERING SA	-	-
NEW R SAS	-	-
PINAULT-PRINTEMPS REDOUTE SA	-	-
PPR SA	-	-
PUMA DENMARK A/S	-	-
PUMA SE	-	-
PUMA SPRINT GMBH	-	-
REDCATS INTERNATIONAL HOLDING, S.A.S.	-	-
SERGIO ROSSI RETAIL SRL SOC. ETRANGERE	-	-
SOWIND JAPON KK	-	-
THE MALL S.R.L.	-	-
TRADEMA DEUTSCHLAND GMBH	-	-
TRADEMA OF AMERICA INC	-	-
TRETORN RESEARCH & DEVELOPMENT LTD	-	-
VOLCOM INC	-	-
YVES SAINT LAURENT SAS	-	-

Event History

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
15/01/2015	Bodacc B	Modification et mutation diverse
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 856 - 488 298 621 RCS Bayonne. VOLCOM SAS. Forme : Société par actions simplifiée à associé unique. Administration : Président : GUJER Bruno Administrateur : STERIS Jason, Willard Administrateur : GROOTSWAGERS Johannes Directeur administratif : DUHAMEL Gilles Commissaire aux comptes titulaire : DELOITTE & ASSOCIES (SACA) Commissaire aux comptes suppléant : CABINET BEAS (SARL). Activité : .  Commentaires : Modification survenue sur l'administration.
24/12/2014	JAL	Resignation / Revocation of the social representative
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 07/11/2014 La société 488298621 - VOLCOM SAS, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Fait l'objet du départ de VOLCOM INC,  De Monsieur David UNTER, Stonetower Dr, 21322, TRABUCO CANYON,  De Monsieur Bruno GUJER, 8 Allée de l'Esquiro, 64600, ANGLET
24/12/2014	JAL	Appointment of the social representative
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 07/11/2014 Société faisant l'objet d'une nomination : 488298621 - VOLCOM SAS, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Nominé : Monsieur Bruno GUJER, 64600 ANGLET En la fonction de : Président Nominé : Monsieur Johannes GROOTSWAGERS, 64100 BAYONNE En la fonction de : Administrateur
29/09/2012	Bodacc C	Comptes annuels et rapports
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 9527 - 488298621 RCS. VOLCOM SAS. Forme : Société par actions simplifiée à associé unique. Adresse : 1 allée Belharra Bahia Parc 64600 Anglet. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
13/09/2012	Bodacc B	Modification et mutation diverse
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 465 - 488 298 621 RCS Bayonne. VOLCOM SAS. Forme : Société par actions simplifiée à associé unique. Administration : Président : VOLCOM INC (SDE) représenté par WOOLCOTT Richard Directeur général : GUJER Bruno Administrateur : STERIS Jason, Willard Administrateur : UNTER David, Andrew Directeur administratif : DUHAMEL Gilles Commissaire aux comptes titulaire : DELOITTE & ASSOCIES (SACA) Commissaire aux comptes suppléant : CABINET BEAS (SARL). Activité : .  Commentaires : Modification survenue sur l'administration.
15/08/2012	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 29/06/2012  Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 488298621 -  VOLCOM SAS, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Date d'effet : 29/06/2012
18/04/2012	JAL	Resignation / Revocation of the social representative
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 29/07/2011 La société 488298621 - VOLCOM SAS, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Fait l'objet du départ de Monsieur Doug COLLIER,  De Monsieur Hoby DARLING
18/04/2012	JAL	Appointment of the social representative
Petites affiches du pays basque et des pyrénées (Les) Date de décision : 29/07/2011 Société faisant l'objet d'une nomination : 488298621 - VOLCOM SAS, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Nominé : Monsieur David UNTER, 21322 TRABUCO CANYON En la fonction de : Administrateur Nominé : Monsieur Jason STERIS, 22192 LAGUNA BEACH En la fonction de : Administrateur
14/11/2010	Bodacc B	Modification et mutation diverse
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 1840 - 488 298 621 RCS Bayonne. VOLCOM SAS. Forme : Société par actions simplifiée unipersonnelle. Administration : Président : VOLCOM INC (SDE) représenté par WOOLCOTT Richard Directeur général : GUJER Bruno Directeur administratif : DUHAMEL Gilles Administrateur : COLLIER Doug Administrateur : DARLING Hoby Commissaire aux comptes titulaire : DELOITTE & ASSOCIES (SACA) Commissaire aux comptes suppléant : CABINET BEAS (SARL).  Commentaires : Modification survenue sur l'administration.
27/10/2010	JAL	Appointment of the social representative
Petites affiches du pays basque et des pyrénées (Les) Société faisant l'objet d'une nomination : 488298621 - VOLCOM SAS, VOLCOM, 1 ALL BELHARRA, BAHIA PARC, 64600 ANGLET  Nominé : Monsieur Bruno GUJER, 8 Allée de l'Esquiro, 64600 ANGLET En la fonction de : Directeur général Date d'effet : 23/07/2010
10/09/2010	Bodacc C	Comptes annuels et rapports
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 10758 - 488298621 RCS. VOLCOM SAS. Forme : Société par actions simplifiée unipersonnelle. Adresse : 1 allée Belharra Bahia Parc 64600 Anglet.Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
03/09/2009	Bodacc C	Comptes annuels et rapports
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 7860 - 488298621 RCS. VOLCOM SAS. Forme : Société par actions simplifiée unipersonnelle. Adresse : 1 allée Belharra Bahia Parc 64600 Anglet.Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
02/09/2008	Bodacc C	Comptes annuels et rapports
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 5721 - 488298621 RCS. VOLCOM SAS. Forme : Société par actions simplifiée unipersonnelle. Adresse : 1 allée Belharra Bahia Parc, 64600 Anglet.Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
25/09/2007	Bodacc B	Modifications et mutations diverses
1177 - RCS Bayonne B 488 298 621. RC 06-B 85. VOLCOM S.A.S. Forme : S.A.S.U. Capital : 4 703 600 euros. Nom commercial : Volcom. Adresse du siège social : Bahia Parc, 1 allée Belharra,, 64600 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 15 juin 2007.
19/08/2007	Bodacc B	Modifications et mutations diverses
1029 - RCS Bayonne B 488 298 621. RC 06-B 85. VOLCOM S.A.S. Forme : S.A.S.U. Nom commercial : Volcom. Adresse du siège social : Bahia Parc, 1 allée Belharra,, 64600 Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal. Etablissement principal - Adresse : Bahia Parc, 1 allée Belharra, 64600 Date d'effet : 5 juin 2007.
08/08/2007	Bodacc C	Avis de dépôt des comptes
6681 - 488 298 621. RCS Bayonne VOLCOM SAS. Forme: Société par actions simplifiée unipersonnelle. Adresse du siège social: 62 avenue du 8 Mai 1945 64100 Bayonne. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
27/06/2006	Bodacc B	Modifications et mutations diverses
0898 - RCS Bayonne B 488 298 621. RC 06-B 85. VOLCOM S.A.S. Forme : S.A.S.U. Nom commercial : Volcom. Adresse du siège social : 62 avenue du 8-Mai-1945,, 64100 Commentaires : modification survenue sur l'administration. Administration : président : VOLCOM IN, représentée par WOOLCOTT (Richard) (Nom d'usage : WOOLCOTT). Directeur administratif : DUHAMEL (Gilles) (Nom d'usage : DUHAMEL). Administrateurs : COLLIER (Doug) (Nom d'usage : COLLIER) DARLING (Hoby) (Nom d'usage : DARLING). Commissaire aux comptes titulaire : DELOITTE & ASSOCIES. Commissaire aux comptes suppléant : CABINET BEAS. Date d'effet : 14 avril 2006.
02/03/2006	Bodacc A	Création d'établissement
1173 - RCS Bayonne B 488 298 621. RC 06-B 85. VOLCOM S.A.S. Forme : S.A.S.U. Capital : 100 000 euros. Nom commercial : Volcom. Adresse du siège social : 62 avenue du 8-Mai-1945, 64100 Bayonne. Administration : président : GUJER (Bruno) (Nom d'usage : GUJER). Directeur administratif : DUHAMEL (Gilles) (Nom d'usage : DUHAMEL). Administrateurs : COLLIER (Doug) (Nom d'usage : COLLIER) DARLING (Hoby) (Nom d'usage : DARLING). Commissaire aux comptes titulaire : DELOITTE & ASSOCIES. Commissaire aux comptes suppléant : CABINET BEAS. Cette société se constitue . Etablissement principal - Activité : conception, fabrication, distribution de vêtements, d'accessoires de sport et de loisirs. Adresse : 62 avenue du 8-Mai-1945, 64100 Bayonne. Date de début d'activité : 2 janvier 2006.

Company events history

Date	Description
15/01/2015	Bodacc B: Various editing or changing
24/12/2014	New chairman (CEO, CoB)
24/12/2014	Changes to the Board of Directors
24/12/2014	Amendment
24/12/2014	Legal Gazette: Resignation / Revocation of the social representative
07/11/2014	Legal Gazette: Appointment of the social representative
15/02/2014	Update Rating
13/02/2014	New Filling of Tax Office preferential right
18/10/2013	Update Rating
25/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/09/2012	Bodacc C : Deposit accounts notice
13/09/2012	Bodacc B: Various editing or changing
31/08/2012	Updated articles of association
31/08/2012	Amendment
14/08/2012	Amendment
14/08/2012	Continuation of business despite loss of equity
29/06/2012	Legal Gazette: Continuation of activity
04/05/2012	New subsidiarie(s) detected
04/05/2012	New ultimate parent
04/05/2012	New parent detected
18/04/2012	Legal Gazette: Resignation / Revocation of the social representative
31/12/2011	New accounts available
09/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/07/2011	Legal Gazette: Appointment of the social representative
31/12/2010	New accounts available
14/11/2010	Bodacc B: Various editing or changing
27/10/2010	Acte modificatif
27/10/2010	Amendment
10/09/2010	Bodacc C : Deposit accounts notice
23/07/2010	Legal Gazette: Appointment of the social representative
31/12/2009	New accounts available
31/12/2009	Modification of Company Activity
31/12/2009	Update of Company Workforce
31/12/2009	Update of Company Activity
26/10/2009	Update of Company Workforce
26/10/2009	Formation of Establishment
03/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
02/09/2008	Bodacc C : Deposit accounts notice
25/03/2008	Collection of preferential rights activated for this company
31/12/2007	New accounts available
07/08/2007	Augmentation de Capital
07/08/2007	Capital increase
07/08/2007	Amendment
07/08/2007	Acte modificatif
07/08/2007	Updated articles of association
07/08/2007	Statuts mis à jour
07/08/2007	Minutes of general meeting of shareholders
07/08/2007	Fund deposit certificate
07/08/2007	Private document
04/07/2007	Minutes of general meeting of shareholders
04/07/2007	PV d'Assemblée
04/07/2007	Registered office transferred inside jurisdiction of the Commercial Court
04/07/2007	Continuation malgré perte supérieure à la moitié du capital
04/07/2007	Continuation of business despite loss of equity
04/07/2007	Private document
04/07/2007	Statuts mis à jour
04/07/2007	Updated articles of association
04/07/2007	Transfert du Siège dans le ressort du Tribunal de Commerce
15/06/2007	Other modification of Establishment
05/06/2007	Transfer of Establishment
05/06/2007	Update of Company Head Office Identifier
31/12/2006	New accounts available
31/05/2006	New chairman (CEO, CoB)
31/05/2006	PV d'Assemblée
31/05/2006	Minutes of general meeting of shareholders
31/05/2006	Nomination/démission des organes de gestion
31/05/2006	Appointment/resignation of company officers
31/05/2006	Changement de Président (PDG, PCA)
31/05/2006	Acte sous seing privé
31/05/2006	Private document
31/05/2006	Changes to the Board of Directors
31/05/2006	Modification du Conseil d'Administration
02/02/2006	Statuts
02/02/2006	Articles of association
02/02/2006	Private document
02/02/2006	Acte sous seing privé
02/02/2006	Company formation
02/02/2006	Formation de Société

DIRECTORS

Name	M. GUJER BRUNO
Manager position	President	Date of birth	31/05/1967
Place of birth	USTER(SUISSE)
Type	Individual	Name at birth

Name	M. STERIS JASON, WILLARD
Manager position	Administrator	Date of birth	16/03/1970
Place of birth	LAGUNA BEACH (CA) (40)(ETATS-UNIS D'AMERIQUE)
Type	Individual	Name at birth

Name	M. GROOTSWAGERS JOHANNES
Manager position	Administrator	Date of birth	14/08/1973
Place of birth	S-GRAVENHAGE(PAYS-BAS)
Type	Individual	Name at birth

PREVIOUS DIRECTORS

Manager position	Title and name	Date of Birth/Place of Birth
President	VOLCOM INC	- - (ETATS-UNIS D'AMERIQUE)
President	VOLCOM INC	12/6/1965 - NEW JERSEY(ETATS-UNIS D'AMERIQUE)
Managing director	M BRUNO GUJER	5/31/1967 - USTER(SUISSE)
Administrator	M DAVID, ANDREW UNTER	10/12/1971 - LOS ANGELES (CA) (40)(ETATS-UNIS D'AMERIQUE)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	TPT

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.