MIRA INFORM REPORT

Report No. :	325412
Report Date :	06.06.2015

IDENTIFICATION DETAILS

Name :	APERAM ALLOYS IMPHY
Registered Office :	Av Jean Jaures 58160 Imphy
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	December 2001
Com. Reg. No.:	RCS Nevers 0 440 326 692
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	· Engaged in Design, Elaboration and Production of Nickel and Cobalt Alloys, as well as certain specific Stainless Steels in Strips, Wire Rod, Plates, and Bars apply to Aerospace, Automotive, Electrical Engineering, Electrical Safety, Medical, Clock and Watch Industry, Oil and Gas Extraction, Chemical Processing, Industrial Equipment & Renewable Energies · Engaged in design, Development, Melting, Manufacturing & sale of alloys & Stainless Steel such as Semis, Bars, Wire Rods, Heavy Plates, Thin Cold Rolled Strips & Clad Products. · Subjects also offer Turnkey Solutions.
No of Employees :	817 (31.12.2013)

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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

APERAM ALLOYS IMPHY

SIRET

440 326 692 00025

Phone	(33) 03 86 21 30 00	EUR VAT Number	FR41440326692
Fax	(33) 03 86 21 31 00	Legal form	Simplified Joint Stock Company with Single Associate
E-Mail	nickel.alloys@aperam.com	RCS Registration	RCS Nevers 0 440 326 692
Address	APERAM ALLOYS IMPHY AV JEAN JAURES 58160 IMPHY	Share capital	35,038,200 Euros
Nationality	France	Incorporated Date	12/2001
		Status	Economically active
Activity (APE)	· Engaged in Design, Elaboration and Production of Nickel and Cobalt Alloys, as well as certain specific Stainless Steels in Strips, Wire Rod, Plates, and Bars apply to Aerospace, Automotive, Electrical Engineering, Electrical Safety, Medical, Clock and Watch Industry, Oil and Gas Extraction, Chemical Processing, Industrial Equipment & Renewable Energies · Engaged in design, Development, Melting, Manufacturing & sale of alloys & Stainless Steel such as Semis, Bars, Wire Rods, Heavy Plates, Thin Cold Rolled Strips & Clad Products. · Subjects also offer Turnkey Solutions.

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	1
	Total number of Invoices paid within or up to 30 days after the due date	1
	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	0
	Total number of Invoices currently outstanding beyond the due date	0

Last published preferential right	This company is not under monitoring
Collection of preferential rights for this company has been stopped by the Court

Ultimate Holding Company
Company Name	Company number
APERAM	B155908

Current Directors

1

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	453,312,110 €	511,541,537 €	498,504,182 €
Gross Operating Surplus	8.55 % Turnover	5.60 % Turnover	6.13 % Turnover
Shareholders’ equity	127,264,572 €	124,590,936 €	133,147,157 €
Net result	18,544,346 €	34,448,955 €	23,228,240 €
Employees	817 (31.12.2013)	-	-

Trends
Profitability
Liquidity
Net worth

Company details

Activity (APE)	· Engaged in Design, Elaboration and Production of Nickel and Cobalt Alloys, as well as certain specific Stainless Steels in Strips, Wire Rod, Plates, and Bars apply to Aerospace, Automotive, Electrical Engineering, Electrical Safety, Medical, Clock and Watch Industry, Oil and Gas Extraction, Chemical Processing, Industrial Equipment & Renewable Energies · Engaged in design, Development, Melting, Manufacturing & sale of alloys & Stainless Steel such as Semis, Bars, Wire Rods, Heavy Plates, Thin Cold Rolled Strips & Clad Products. · Subjects also offer Turnkey Solutions.
RCS Registration	RCS Nevers 0 440 326 692	Share capital	35,038,200 Euros
Registration Court	Nevers (58)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 4B00073	EUR VAT Number	FR41440326692
Incorporation Date	12/2001	Formation Date	12/2001
Deregistration Date	-----	Last account Date	31/12/2013
Nationality	France

Establishment details

Postal Address	APERAM ALLOYS IMPHY  AV JEAN JAURES  58160 IMPHY	Business Pages FT®	METALLURGIE
Phone	(33) 03 86 21 30 00	Trading Address	AVENUE JEAN JAURES  58160 IMPHY
Fax	(33) 03 86 21 31 00
E-Mail	nickel.alloys@aperam.com
Activity (APE)	· Engaged in Design, Elaboration and Production of Nickel and Cobalt Alloys, as well as certain specific Stainless Steels in Strips, Wire Rod, Plates, and Bars apply to Aerospace, Automotive, Electrical Engineering, Electrical Safety, Medical, Clock and Watch Industry, Oil and Gas Extraction, Chemical Processing, Industrial Equipment & Renewable Energies · Engaged in design, Development, Melting, Manufacturing & sale of alloys & Stainless Steel such as Semis, Bars, Wire Rods, Heavy Plates, Thin Cold Rolled Strips & Clad Products. · Subjects also offer Turnkey Solutions.

Type	Head office	Status	Economically active
Formation Date	12/2003	Reason for formation	Other

Department	Nièvre (58)	Region	Bourgogne
District	3	Area	32
City	IMPHY	Size of urban area

Other establishments

Branches	2 branch entities in this company
Head office	> APERAM ALLOYS IMPHY <<<  - MEtallurgie des autres mEtaux non ferreux (2445Z)  in IMPHY  (58160)
Secondary establishments	>  APERAM ALLOYS IMPHY  - MEtallurgie des autres mEtaux non ferreux (2445Z)  in EPONE  (78680)  >  APERAM ALLOYS IMPHY  - MEtallurgie des autres mEtaux non ferreux (2445Z)  in SAINT DENIS  (93210)  >  APERAM ALLOYS IMPHY  - MEtallurgie des autres mEtaux non ferreux (2445Z)  in FIRMINY  (42700)

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

500 to 999 employees

Company workforce

817 (31.12.2013)

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	31/12/2012	31/12/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	15/09/2014	28/10/2013	11/06/2013
Activity Code	2445Z	2445Z	2445Z
Employees	817	0	0

Active account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	79,045,613	0.5%	78,670,787	15.4%	68,158,370	123,327	63994.3%
- Intangible assets	1,242,474	30.4%	952,768	-27.2%	1,308,669	12,000	10254.0%
- Tangible assets	63,365,058	3.4%	61,276,771	21.4%	50,474,529	34,867	181633.6%
- Financial assets	14,438,081	-12.2%	16,441,248	0.4%	16,375,172	2,133	676790.8%
Net current assets	147,784,807	-12.1%	168,126,570	-6.0%	178,886,968	497,228	29621.7%
- Stocks	104,294,768	-6.1%	111,070,953	5.2%	105,610,624	99,881	104319.0%
- Advanced payments	166,728	-12.1%	166,728	-6.3%	177,903	0	0%
- Receivables	42,671,796	-22.0%	54,692,540	-24.7%	72,660,023	273,879	15480.5%
- Securities and cash	651,515	-70.3%	2,196,349	401.0%	438,418	22,486	2797.4%
- Prepaid expenses	-	-	-	-	-	260	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	226,830,418	-8.1%	246,797,357	-0.1%	247,045,336	525,749	43044.2%

Passive Account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Shareholders' equity	127,264,572	2.1%	124,590,936	-6.4%	133,147,157	170,568	74512.2%
Share capital	35,038,200	0%	35,038,200	0%	35,038,200	90,000	38831.3%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	11,837,491	10.4%	10,725,974	12.2%	9,556,434	0	0%
Liabilities	87,728,355	-21.3%	111,480,448	6.8%	104,341,746	262,491	33321.5%
- Financial liabilities	2,835,821	2055.5%	131,565	1464.0%	8,412	36,658	7635.9%
- Advanced payments received	992,623	-73.7%	3,778,620	222.6%	1,171,227	0	0%
- Trade account payables	52,271,659	-23.3%	68,152,955	0.6%	67,741,570	79,037	66035.7%
- Tax and social liabilities	13,509,910	-11.1%	15,203,575	28.4%	11,838,708	117,972	11351.8%
- Other debts and fixed assets liabilities	18,118,342	-25.2%	24,213,733	3.0%	23,516,024	40,168	45006.4%
Account regularization	0	0%	0	0%	65,805	0	0%
Total liabilities	226,830,418	-8.1%	246,797,358	-0.1%	247,045,336	525,749	43044.2%

Results

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Sales of Goods	453,296,016	-13.2%	522,115,667	4.3%	500,708,505	778,862	58099.8%
Net turnover	453,312,110	-11.4%	511,541,537	2.6%	498,504,182	769,275	58827.2%
- of which net export turnover	348,678,274	2.2%	341,063,912	3.8%	328,448,602	0	0%
Operating charges	421,495,612	-15.0%	495,895,412	5.7%	469,133,460	720,109	58432.2%
Operating profit/loss	31,800,404	21.3%	26,220,255	-17.0%	31,575,045	14,339	221675.6%
Financial income	5,889,092	-51.6%	12,158,571	33.5%	9,106,542	68	8660329.4%
Financial charges	7,578,025	-24.3%	10,006,688	50.6%	6,646,271	2,005	377856.4%
Financial profit/loss	-1,688,933	-178.5%	2,151,883	-12.5%	2,460,271	-576	-293117.5%
Pretax net operating income	30,111,471	6.1%	28,372,138	-16.6%	34,035,316	13,574	221732.0%
Extraordinary income	5,578,922	-80.1%	28,089,353	410.4%	5,503,386	458	1218005.2%
Extraordinary charges	5,372,811	1.4%	5,296,210	60.6%	3,298,645	579	927846.6%
Extraordinary profit/loss	206,111	-99.1%	22,793,143	933.8%	2,204,741	0	0%
Net result	18,544,346	-46.2%	34,448,955	48.3%	23,228,240	19,370	95637.5%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2013	31/12/2012	31/12/2011
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	Grand Total (I to VI)	Net	226,830,418	-8.1%	246,797,357	-0.1%	247,045,336
	Gross	CO	358,909,783	-3.1%	370,388,288	1.1%	366,519,967
	Amortisation	1A	132,079,365	6.9%	123,590,931	3.4%	119,474,631

Non declared distributed capital (I)

		31/12/2013		31/12/2012		31/12/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2013		31/12/2012		31/12/2011
	Total Active fixed asset (II)	Net	79,045,613	0.5%	78,670,787	15.4%	68,158,370
	Gross	BJ	201,871,501	3.7%	194,659,343	9.4%	177,919,957
	Amortisation	BK	122,825,888	5.9%	115,988,556	5.7%	109,761,587

Intangible fixed assets

			31/12/2013		31/12/2012		31/12/2011
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	295,039	5432.3%	5,333	-98.5%	361,234
	Gross	AF	2,642,859	16.2%	2,274,060	0%	2,274,060
	Amortisation	AG	2,347,820	3.5%	2,268,727	18.6%	1,912,826
	Goodwill	Net	947,435	0%	947,435	0%	947,435
	Gross	AH	947,435	0%	947,435	0%	947,435
	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	1,242,474	30.4%	952,768	-27.2%	1,308,669

Tangible fixed assets

			31/12/2013		31/12/2012		31/12/2011
	Lands	Net	1,279,790	0%	1,279,790	0%	1,279,790
	Gross	AN	2,840,868	0%	2,840,868	0%	2,840,868
	Amortisation	AO	1,561,078	0%	1,561,078	0%	1,561,078
	Buildings	Net	9,576,821	9.2%	8,770,193	82.6%	4,804,006
	Gross	AP	34,577,253	3.4%	33,433,753	14.5%	29,195,436
	Amortisation	AQ	25,000,432	1.4%	24,663,560	1.1%	24,391,430
	Plant	Net	50,429,141	4.0%	48,495,131	39.9%	34,669,166
	Gross	AR	134,121,785	4.2%	128,774,650	15.0%	111,959,275
	Amortisation	AS	83,692,644	4.3%	80,279,519	3.9%	77,290,109
	Other tangible fixed assets	Net	11,862	-33.5%	17,833	-28.0%	24,785
	Gross	AT	1,862,848	-3.2%	1,925,224	0.0%	1,925,491
	Amortisation	AU	1,850,986	-3.0%	1,907,391	0.4%	1,900,706
	Fixed assets in construction	Net	1,925,158	-25.1%	2,571,538	-62.2%	6,796,483
	Gross	AV	1,925,158	-25.1%	2,571,538	-62.2%	6,796,483
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	142,286	0%	142,286	-95.1%	2,900,299
	Gross	AX	142,286	0%	142,286	-95.1%	2,900,299
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	63,365,058		61,276,771		50,474,529

Financial assets

			31/12/2013		31/12/2012		31/12/2011
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	14,365,077	-12.2%	16,354,244	0.5%	16,267,414
	Gross	CU	22,738,005	5.0%	21,662,525	14.2%	18,972,852
	Amortisation	CV	8,372,928	57.7%	5,308,281	96.2%	2,705,438
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	7,000	-66.7%	21,000	0%	21,000
	Gross	BF	7,000	0%	21,000	0%	21,000
	Amortisation	BG	0		0		0
	Other financial assets	Net	66,004	0%	66,004	-23.9%	86,758
	Gross	BH	66,004	0%	66,004	-23.9%	86,758
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		14,438,081		16,441,248		16,375,172

Current Assets (III)

			31/12/2013		31/12/2012		31/12/2011
	Total Assets	Net	147,784,807	-12.1%	168,126,570	-6.0%	178,886,968
	Gross	CJ	157,038,284	-10.6%	175,728,946	-6.8%	188,600,011
	Amortisation	CK	9,253,477	21.7%	7,602,376	-21.7%	9,713,043

Stocks

			31/12/2013		31/12/2012		31/12/2011
	Raw materials	Net	14,942,348	-1.9%	15,224,947	13.6%	13,398,237
	Gross	BL	22,539,201	4.1%	21,645,196	-1.4%	21,959,571
	Amortisation	BM	7,596,853	18.3%	6,420,249	-25.0%	8,561,334
	Work in progress (goods)	Net	61,205,192	-5.0%	64,450,220	-1.6%	65,471,993
	Gross	BN	61,205,192	-5.0%	64,450,220	-1.6%	65,471,993
	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	28,147,228	-10.3%	31,395,786	17.4%	26,740,394
	Gross	BR	29,583,865	-8.5%	32,348,537	17.9%	27,446,776
	Amortisation	BS	1,436,637	50.8%	952,751	34.9%	706,382
	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	104,294,768	-6.1%	111,070,953	5.2%	105,610,624

Advance payments to suppliers

			31/12/2013		31/12/2012		31/12/2011
	Advance payments to suppliers	Net	166,728	0%	166,728	-6.3%	177,903
	Gross	BV	166,728	0%	166,728	-6.3%	177,903
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		31/12/2012		31/12/2011
	Trade accounts receivable	Net	29,892,694	13.9%	26,236,969	-18.6%	32,222,280
	Gross	BX	30,112,681	13.8%	26,466,345	-19.0%	32,664,540
	Amortisation	BY	219,987	-4.1%	229,376	-48.1%	442,260
	Other debtors	Net	11,792,890	-57.2%	27,542,571	-31.8%	40,411,818
	Gross	BZ	11,792,890	-57.2%	27,542,571	-31.9%	40,414,885
	Amortisation	CA	0	0%	0	0%	3,067
	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	41,685,584	-22.5%	53,779,540	-26.0%	72,634,098

Divers

			31/12/2013		31/12/2012		31/12/2011
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	651,515	-70.3%	2,196,349	401.0%	438,418
	Gross	CF	651,515	-70.3%	2,196,349	401.0%	438,418
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	651,515	-70.3%	2,196,349	401.0%	438,418

Prepaid expenses

			31/12/2013		31/12/2012		31/12/2011
	Prepaid expenses	Net	986,212	8.0%	913,000	3421.7%	25,925
	Gross	CH	986,212	8.0%	913,000	3421.7%	25,925
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		31/12/2012		31/12/2011
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
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)

		31/12/2013		31/12/2012		31/12/2011
Grand Total (I to V)	EE	226,830,418	-8.1%	246,797,358	-0.1%	247,045,336

Shareholder Equity (I)

			31/12/2013		31/12/2012		31/12/2011
	Total shareholders' equity (Total I)	DL	127,264,572	2.1%	124,590,936	-6.4%	133,147,157
	Equity and shareholders' equity	DA	35,038,200	0%	35,038,200	0%	35,038,200
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	2,707,950	0%	0	0%	0
	Legal reserve	DD	3,503,820	0%	3,503,820	0%	3,503,820
	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	22,566,639	608.7%	3,184,110	-0.1%	3,186,158
	Profit or loss for the period	DI	18,544,346	-46.2%	34,448,955	48.3%	23,228,240
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	47,611,567	-1.7%	48,415,851	-29.0%	68,190,739

Other capital resources (II)

			31/12/2013		31/12/2012		31/12/2011
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2013		31/12/2012		31/12/2011
	Total provisions for risks and charges (Total III)	DR	11,837,491	10.4%	10,725,974	12.2%	9,556,434
	Risk provisions	DP	2,099,641	15.0%	1,825,209	30.0%	1,403,825
	Reserves for charges	DQ	9,737,850	9.4%	8,900,765	9.2%	8,152,609

Liabilities (IV)

			31/12/2013		31/12/2012		31/12/2011
	Total Liabilities (Total IV)	EC	87,728,355	-21.3%	111,480,448	6.8%	104,341,746
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	111,631	0%	0	0%	0
	Sundry loans and financial liabilities	DV	2,724,190	1970.6%	131,565	1464.0%	8,412
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	992,623	-73.7%	3,778,620	222.6%	1,171,227
	Trade accounts payables	DX	52,271,659	-23.3%	68,152,955	0.6%	67,741,570
	Tax and social security liabilities	DY	13,509,910	-11.1%	15,203,575	28.4%	11,838,708
	Fixed asset liabilities	DZ	1,336,553	-48.3%	2,587,055	-53.7%	5,591,748
	Other debts	EA	16,781,789	-22.4%	21,626,678	20.7%	17,924,276

Translation loss (V)

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

Equalization accounts

		31/12/2013		31/12/2012		31/12/2011
Deferred income	EB	0	0%	0	0%	65,805

References

		31/12/2013		31/12/2012		31/12/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	86,735,732	-19.5%	107,701,828	4.4%	103,170,519
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)

		31/12/2013		31/12/2012		31/12/2011
Operating result (Total I-II)	GG	31,800,404	21.3%	26,220,255	-17.0%	31,575,045

2 - Financial result (V - VI)

		31/12/2013		31/12/2012		31/12/2011
Financial result (Total V-VI)	GV	-1,688,933	-178.5%	2,151,883	-12.5%	2,460,271

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

		31/12/2013		31/12/2012		31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	30,111,471	6.1%	28,372,138	-16.6%	34,035,316

4 - Extraordinary result (VII-VIII)

		31/12/2013		31/12/2012		31/12/2011
Extraordinary result (Total VII-VIII)	HI	206,111	-99.1%	22,793,143	933.8%	2,204,741

Profit or loss

		31/12/2013		31/12/2012		31/12/2011
Profit or loss	HN	18,544,346	-46.2%	34,448,955	48.3%	23,228,240

Total Income (I+III+V+VII)

		31/12/2013		31/12/2012		31/12/2011
Total Income (I+III+V+VII)	HL	464,764,029	-17.4%	562,363,591	9.1%	515,318,433

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

		31/12/2013		31/12/2012		31/12/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	446,219,682	-15.5%	527,914,636	7.3%	492,090,194

Operating income (I)

		31/12/2013		31/12/2012		31/12/2011
Total operating income (Total I)	FR	453,296,016	-13.2%	522,115,667	4.3%	500,708,505

Operating income (details)

			31/12/2013		31/12/2012		31/12/2011
	Sale of goods for resale	FC	0	0%	29,208,000	129.8%	12,710,000
	France	FA	0	0%	29,208,000	129.8%	12,710,000
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	442,627,720	-6.2%	471,988,432	-0.6%	474,911,512
	France	FD	99,295,662	-26.9%	135,909,236	-10.6%	152,052,460
	Export	FE	343,332,058	2.2%	336,079,196	4.1%	322,859,052
	Sale of services	FI	10,684,390	3.3%	10,345,105	-4.9%	10,882,670
	France	FG	5,338,174	-0.4%	5,360,389	1.3%	5,293,120
	Export	FH	5,346,216	7.3%	4,984,716	-10.8%	5,589,550
	Net turnover	FL	453,312,110	-11.4%	511,541,537	2.6%	498,504,182
	France	FJ	104,633,836	-38.6%	170,477,625	0.2%	170,055,580
	Export	FK	348,678,274	2.2%	341,063,912	3.8%	328,448,602
	Stocked production	FM	-4,694,958	-221.0%	3,879,988	165.0%	-5,969,935
	Self-constructed assets	FN	0	0%	0	0%	1,698
	Operating grants	FO	60,813	35.5%	44,886	-34.3%	68,334
	Release of reserves and provisions	FP	4,484,162	-27.8%	6,207,066	-20.0%	7,761,453
	Other income	FQ	133,889	-69.7%	442,190	29.0%	342,773

Operating charges (II)

		31/12/2013		31/12/2012		31/12/2011
Total operating charges (Total II)	GF	421,495,612	-15.0%	495,895,412	5.7%	469,133,460

Exploitation charges

		31/12/2013		31/12/2012		31/12/2011
Purchase of goods for resale	FS	0	0%	34,617,583	105.9%	16,812,200
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	250,410,792	-21.0%	316,843,648	-0.2%	317,632,376
Change in stocks of raw materials	FV	420,739	33.8%	314,375	112.3%	-2,548,086
Other external purchases and charges	FW	110,081,590	23.3%	89,255,702	2.1%	87,392,408
Tax, duty and similar payments	FX	4,685,133	-6.6%	5,016,652	20.0%	4,180,665
Payroll	FY	30,244,051	10.1%	27,472,609	5.2%	26,117,662
Social security costs	FZ	14,094,215	6.1%	13,279,119	6.7%	12,443,959

Depreciation

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	3,993,163	8.8%	3,671,179	1.9%	3,604,196
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	4,346,139	37.4%	3,163,939	109.1%	1,513,322
Provisions for risks and charges	GD	1,967,995	0.1%	1,966,880	4.6%	1,880,025

Other charges

		31/12/2013		31/12/2012		31/12/2011
Other charges	GE	1,251,794	326.2%	293,726	180.5%	104,733

Operating charges (III-IV)

		31/12/2013		31/12/2012		31/12/2011
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2013		31/12/2012		31/12/2011
	Total financial income (Total V)	GP	5,889,092	-51.6%	12,158,571	33.5%	9,106,542
	Share financial income	GJ	3,058,792	-41.6%	5,236,462	161.4%	2,002,940
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	28,948	-69.8%	96,002	-18.2%	117,339
	Released provisions and transferred charges	GM	129,931	43.1%	90,790	-89.2%	837,517
	Exchange gains	GN	2,671,421	-60.3%	6,735,317	9.5%	6,148,746
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2013		31/12/2012		31/12/2011
	Total financial charge (Total VI)	GU	7,578,025	-24.3%	10,006,688	50.6%	6,646,271
	Financial reserves and provisions	GQ	3,194,578	18.7%	2,690,566	199.7%	897,617
	Interest and similar charges	GR	1,888,502	242.5%	551,448	446.8%	100,843
	Exchange losses	GS	2,494,945	-63.1%	6,764,674	19.8%	5,647,811
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary income (Total VII)	HD	5,578,922	-80.1%	28,089,353	410.4%	5,503,386
	Extraordinary operating income	HA	20,828	494.7%	3,502	-98.8%	284,884
	Extraordinary income from capital transactions	HB	301,664	-90.6%	3,225,427	587.5%	469,146
	Released provisions and transferred charges	HC	5,256,430	-78.9%	24,860,424	423.4%	4,749,356

Extraordinary charges (VIII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary charges (Total VIII)	HH	5,372,811	1.4%	5,296,210	60.6%	3,298,645
	Extraordinary operating charges	HE	358,245	7.8%	332,443	9238.3%	3,560
	Extraordinary charges from capital transactions	HF	30,001	-70.9%	103,087	246.7%	29,735
	Extraordinary reserves and provisions	HG	4,984,565	2.5%	4,860,680	48.9%	3,265,350

Employee profit sharing (IX)

		31/12/2013		31/12/2012		31/12/2011
Employee profit sharing (Total IX)	HJ	1,002,928	56.9%	639,317	26.9%	503,625

Tax on profits (X)

		31/12/2013		31/12/2012		31/12/2011
Tax on profits (Total X)	HK	10,770,306	-33.0%	16,077,009	28.5%	12,508,193

References

		31/12/2013		31/12/2012		31/12/2011
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	0	0%	0	0%	102,721
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

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)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	0

Research and development Charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	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)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	KD	0	0%	0	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	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	0	0%	0	0%	0

Tangible fixed assets (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LN	0	0%	0	0%	0
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	0	0%	0	0%	0

Financial assets (Total IV)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	0
Increases		QV	0	0%	0	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	0

Movements during period affecting charge allocated over several period

Charges à rEpartir ou frais d'Emission d'emprunt

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	0	0%	0	0%	0
1 year at most	VU	0	0%	0	0%	0
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2013		31/12/2012		31/12/2011
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	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	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	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	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	0

Prepaid

		31/12/2013		31/12/2012		31/12/2011
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/12/2013		31/12/2012		31/12/2011
	Total debt (gross)	VY	0	0%	0	0%	0
1 year at most		VZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2013		31/12/2012		31/12/2011
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	0	0%	0
1 year at most		8B2	0	0%	0	0%	0
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	0	0%	0
1 year at most		8D2	0	0%	0	0%	0
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	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	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%	0
1 year at most		8K2	0	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	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

		31/12/2013		31/12/2012		31/12/2011
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

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

Commitments

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

Other charges Externes

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

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

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

		31/12/2013		31/12/2012		31/12/2011
Average number of employees	YP	817	0%	0	0%	0

Groups and Shareholders

		31/12/2013		31/12/2012		31/12/2011
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter

Comparison mode

· Median

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

Structure and Liquidity

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Fixed Asset Financing		1.31	1.6%	1.29	-9.2%	1.42	1.50	-12.7%
Global Debt		70 days	-10.3%	78 days	4.0%	75 days	120 days	-41.7%
Working Capital Fund overall net		50 days	25.0%	40 days	-25.9%	54 days	64 days	-21.9%
Financial independence		4487.75%	-95.3%	94699.15%	-94.0%	1582824.03%	209.63%	2040.8%
Solvability		56.11%	11.2%	50.48%	-6.3%	53.90%	42.12%	33.2%
Capacity debt futures		%	-	%	-	%	41507.73%	-
Coverage of current assets by net working capital overall		40.30%	24.1%	32.48%	-17.9%	39.54%	37.55%	7.3%
General Liquidity			-		-		0.98	-
Restricted Liquidity			-		-		1.43	-

Management or rotation

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Need background in operating working capital		49 days	28.9%	38 days	-29.6%	54 days	43 days	14.0%
Treasury		1 days	-50.0%	2 days	0%	0 days	1.50 days	-33.3%
Inventory turnover of goods		days	-	0 days	0%	0 days	17 days	-
Average length of credit granted to customers		24 days	26.3%	19 days	-20.8%	24 days	75.50 days	-68.2%
Average length of credit obtained suppliers		52 days	-7.1%	56 days	-3.4%	58 days	62 days	-16.1%
Inventory turnover of raw materials in industrial enterprises		32 days	28.0%	25 days	0%	25 days	58.50 days	-45.3%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	255 days	-
Rotation tangible assets		%	-	%	-	%	271.15%	-

Profitability of the business

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Margin trading		0%	0%	-1.06%	-29.3%	-0.82	0%	0%
Profitability of the business		8.55	52.7%	5.60	-8.6%	6.13	6.68%	28.0%
Net profit		4.09%	-39.2%	6.73%	44.4%	4.66%	5.11%	-20.0%
Growth rate of turnover (excluding VAT)		-11.38%	-534.4%	2.62%	-90.8%	28.42%	1.63%	-798.2%
Rates integration		19.35%	33.1%	14.54%	-1.0%	14.69%	38.36%	-49.6%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		50.55%	-7.7%	54.78%	4.0%	52.65%	73.73%	-31.4%
Weight interests		1.67	-14.8%	1.96%	47.4%	1.33%	0.37%	351.4%

Return on capital

		31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Cash flow from the overall profitability		6.72%	-19.2%	8.32%	35.7%	6.13%	6.72%	0%
Rates of economic profitability		30%	30.4%	23%	0%	23%	20%	50.0%
Financial profitability		127264572%	2.1%	124590936%	-6.4%	133147157%	130025%	97777.0%
Return on investment		20.08%	-43.7%	35.64%	58.8%	22.44%	20.08%	0%

Display parameter

Currency Euro

Comparison mode Median

Soldes IntermEdiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median2013
Turnover	453,312,110	-11.4%	511,541,537	2.6%	498,504,182	769,275 €	58827.2%

Sales of goods	0	0%	29,208,000	129.8%	12,710,000
- Purchase of goods	0	0%	34,617,583	105.9%	16,812,200
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	-5,409,583 €	-31.9%	-4,102,200 €	0 €	0%
	0.00 % CA	0%	-1.06 % CA	-29.3%	-0.82 % CA	0 % CA	0%

Sale of goods produced	453,312,110	-6.0%	482,333,537	-0.7%	485,794,182
+/- Stocked production	-4,694,958	-221.0%	3,879,988	165.0%	-5,969,935
+ Self-constructed assets	0	0%	0	0%	1,698
Period production	448,617,152 €	-7.7%	486,213,525 €	1.3%	479,825,945 €	697,004 €	64263.6%
	98.96 % CA	4.1%	95.05 % CA	-1.2%	96.25 % CA	97.70 % CA	1.3%

Trading margin	0	0%	-5,409,583	-31.9%	-4,102,200	0	0%
+ Period Production	448,617,152	-7.7%	486,213,525	1.3%	479,825,945	697,004	64263.6%
- Purchase of raw materials	250,410,792	-21.0%	316,843,648	-0.2%	317,632,376
+/- Change in stocks of raw materiels	420,739	33.8%	314,375	112.3%	-2,548,086
- Other external purchases and charges	110,081,590	23.3%	89,255,702	2.1%	87,392,408
Added value	87,704,031 €	17.9%	74,390,217 €	1.6%	73,247,047 €	269,622 €	32428.5%
	19.35 % CA	33.1%	14.54 % CA	-1.0%	14.69 % CA	38.36 % CA	-49.6%

Added value	87,704,031 €	17.9%	74,390,217 €	1.6%	73,247,047 €	269,622 €	32428.5%
+ Operating grants	60,813	35.5%	44,886	-34.3%	68,334
- Tax, duty and similar payments	4,685,133	-6.6%	5,016,652	20.0%	4,180,665
- Personal charges	44,338,266	8.8%	40,751,728	5.7%	38,561,621
Gross operating surplus	38,741,445 €	35.1%	28,666,723 €	-6.2%	30,573,095 €	18,667 €	207439.7%
	8.55 % CA	52.7%	5.60 % CA	-8.6%	6.13 % CA	6.68 % CA	28.0%

Gross operating surplus	38,741,445 €	35.1%	28,666,723 €	-6.2%	30,573,095 €	18,667 €	207439.7%
+ Release of reserves and provisions	4,484,162	-27.8%	6,207,066	-20.0%	7,761,453
+ Other operating income	133,889	-69.7%	442,190	29.0%	342,773
- Depreciation/Amortisation	10,307,297	17.1%	8,801,998	25.8%	6,997,543
- Other charges	1,251,794	326.2%	293,726	180.5%	104,733
Operating result	31,800,405 €	21.3%	26,220,255 €	-17.0%	31,575,045 €	14,339 €	221675.6%
	7.02 % CA	36.8%	5.13 % CA	-19.0%	6.33 % CA	4.80 % CA	46.2%

Operating result	31,800,405 €	21.3%	26,220,255 €	-17.0%	31,575,045 €	14,339 €	221675.6%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	5,889,092	-51.6%	12,158,571	33.5%	9,106,542
- Financial charges	7,578,025	-24.3%	10,006,688	50.6%	6,646,271
Pre-tax result	30,111,472 €	6.1%	28,372,138 €	-16.6%	34,035,316 €	13,576 €	221699.3%
	6.64 % CA	19.6%	5.55 % CA	-18.7%	6.83 % CA	4.58 % CA	45.0%

Extraordinary income	5,578,922	-80.1%	28,089,353	410.4%	5,503,386	458	1218005.2%
- Extraordinary charges	5,372,811	1.4%	5,296,210	60.6%	3,298,645
Extraordinary result	206,111 €	-99.1%	22,793,143 €	933.8%	2,204,741 €	0 €	0%
	0.05 % CA	-98.9%	4.46 % CA	913.6%	0 % CA	0 % CA	0%

Pre-tax result	30,111,472 €	6.1%	28,372,138 €	-16.6%	34,035,316 €	13,576 €	221699.3%
Extraordinary result	206,111 €	-99.1%	22,793,143 €	933.8%	2,204,741 €	0 €	0%
- Employee profit sharing	1,002,928	56.9%	639,317	26.9%	503,625
- Tax on profits	10,770,306	-33.0%	16,077,009	28.5%	12,508,193
Net result	18,544,349 €	-46.2%	34,448,955 €	48.3%	23,228,239 €	19,372 €	95627.6%
	4.09 % CA	-39.2%	6.73 % CA	44.4%	4.66 % CA	5.11 % CA	-20.0%

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	13/09/2007	Monitored stopped since	13/09/2013
Status of Monitoring	Collection of preferential rights for this company has been stopped by the Court

Social security, pension funds preferential rights

Number of preferential rights	0
Total amount	-
Due remaining amount	-
Date of last preferential right	-

Historical Data

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

30706105

21/09/2007

21/03/2010

CAPIMMEC

6,120 EUR

-

Reason for closure	Void
Court	Bobigny
Creditor	CAPIMMEC 15 AVE DU CENTRE 78281 GUYANCOURT, ST QUENTIN YVELINES CEDEX
Debtor	IMPHY ALLOYS 1 à 5 RUE Luigi Cherubini 93200 SAINT DENIS, ST DENIS, FR

31210167

24/10/2012

13/09/2013

NOVALIS RETRAITE ARRCAO

22,260 EUR

-

Reason for closure	Monitoring stopped by the court due to company radiation
Court	Bobigny
Creditor	NOVALIS RETRAITE ARRCAO 7 RUE DE MAGDEBOURG 75116, PARIS
Debtor	IMPHY ALLOYS 1 à 5 RUE Luigi Cherubini 93200 SAINT DENIS, ST DENIS, FR

Group data

Ultimate parent company	APERAM
Direct parent	APERAM STAINLESS FRANCE - 100 %
Group – Number of companies	27
Linkages – Number of companies	-
Number of countries	-

Group Structure

Company Name	SIREN	Parts	Last account published
APERAM	B155908	-	31/12/2013
APERAM SOUTH AMERICA	-	100%	-
APERAM STAINLESS SERVICES & SOLUTION...	HRB 12631	100%	31/12/2012
APERAM STAINLESS SERVICES & SOLUTION...	US00810977	100%	-
APERAM STAINLESS BELGIUM	-	100%	-
ARCELORMITTAL BIOENERGIA LTDA	-	36.50%	-
APERAM STAINLESS FRANCE	501651616	100%	31/12/2013
IMHUA SPECIAL METAL CO. LTD	-	65%	-
APERAM STAINLESS SCE & SOLUTIONS I...	390216570	100%	31/12/2013
APERAM ALLOYS IMPHY	440326692	100%	31/12/2013
APERAM ALLOYS AMILLY	612013268	100%	31/12/2013
APERAM ALLOYS SERVICE	340429620	100%	31/12/2013
APERAM ALLOYS RESCAL	326144490	100%	31/12/2012
APERAM STAINLESS SERVICES & SOLUTI...	399403435	100%	31/12/2013
APERAM STAINLESS SCE SOLUTION TUBE...	485720015	100%	31/12/2013
MEUSIENNE D'ITALIA	-	100%	-
APERAM STAINLESS SCE & SOLUTION ...	433986536	100%	31/12/2013
APERAM STAINLESS EUROPE	303284269	95%	31/12/2013
UGINE IBERICA S.A.	-	100%	-
UGINE ITALIA SRL	-	100%	-
APERAM STAINLESS SCE & SOLUT PRECI...	410436265	100%	31/12/2013
APERAM TREASURY SNC	528617004	100%	31/12/2013
RECYCO	538842188	100%	31/12/2013
APERAM STAINLESS SERVICES & SOLUTION...	-	100%	-
ARCELORMITTAL INOX BRAZIL SERVICOS	-	100%	-
ARCELORMITTAL INOX BRAZIL TUBOS	-	100%	-
ARCELORMITTAL STAINLESS AUTOMOTIVE T...	-	100%	-

Linkages

Ultimate parent company	APERAM
Direct parent	APERAM STAINLESS FRANCE - 100 %
Group – Number of companies	27
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Date	Description
24/04/2012	Economically active

Recent publications in Gazettes

Publication Date	Gazette Name	Description
05/11/2014	Bodacc A	Vente Et Cession : Acheteur
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 504 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Capital : 35038200 Eur. Adresse : Avenue Jean Jaurã¨S, 58160 Imphy. Date De Commencement De L’Activite : 01/01/0001. Oppositions : Art.L.236-14 Du Code De Commerce. Descriptif : Avis De Projet De Fusion Avis Au Bodacc Relatif Au Projet Commun De Fusion De La Sociâ¿Tâ¿ Aperam Alloys Service Par La Sociâ¿Tâ¿ Aperam Alloys Imphy Sociâ¿Tâ¿ Absorbante : Aperam Alloys Imphy Forme : Sociâ¿Tâ¿ Par Actions Simplifiâ¿E ¿ Associâ¿ Unique Siâ¿Ge Social Oâ¿ Peut ¿Tre Consultâ¿ Le Projet De Fusion : Avenue Jean Jaurâ¿S 58160 Imphy Capital Social : 35 038 200 Euros Immatriculâ¿E Au Rcs De Nevers Sous Le Nâ¿440 326 692 Sociâ¿Tâ¿ Absorbâ¿E : Aperam Alloys Service Forme : Sociâ¿Tâ¿ En Nom Collectif Siâ¿Ge Social Oâ¿ Peut ¿Tre Consultâ¿ Le Projet De Fusion : 30 Avenue Des Fruitiers 93200 Saint Denis Capital Social : 762 300 Euros Immatriculâ¿E Au Rcs De Bobigny Sous Le Nâ¿340 429 620 L'â¿Valuation De L'actif Et Du Passif De Chaque Sociâ¿Tâ¿ Participante Dont La Transmission ¿ La Sociâ¿Tâ¿ Absorbante Est Prâ¿Vue : Actif : 2 351 444 Euros Passif : 10 196 Euros La Sociâ¿Tâ¿ Aperam Alloys Imphy Dâ¿Tenant ¿ Ce Jour La Totalitâ¿ Des Parts De La Sociâ¿Tâ¿ Aperam Alloys Service Et S'engageant ¿ Les Conserver Jusqu'â¿ La Râ¿Alisation Dâ¿Finitive De La Fusion, Il Ne Sera Procâ¿D⿠¿ Aucun Rapport D'â¿Change Ni Augmentation Du Capital Social De La Sociâ¿Tâ¿ Aperam Alloys Imphy Le Montant Prâ¿Vu De La Prime De Fusion Est Fixâ¿E ¿ La Somme De 1 365 849 Euros La Date Du Projet Commun De Fusion : 9 Octobre 2014 Le Projet De Fusion A ¿Tâ¿ Dâ¿Posâ¿ Au Greffe Du Tribunal De Commerce En Date Du 24 Octobre 2014 Pour La Sociâ¿Tâ¿ Aperam Alloys Service Et Au Greffe Du Tribunal De Commerce De Nevers En Date Du 27 Octobre 2014 Pour La Sociâ¿Tâ¿ Aperam Alloys Imphy. Commentaires : Autre Achat, Apport, Attribution.
24/09/2014	Bodacc C	Comptes Annuels Et Rapports
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 5720 - 440326692 Rcs. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Adresse : Avenue Jean Jaurã¨S 58160 Imphy.Commentaires : Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2013.
25/07/2014	Bodacc B	Modification Et Mutation Diverse
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 1299 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Administration : President : Mattei Frederic Commissaire Aux Comptes Titulaire : Deloitte & Associes Sa (Sa) Commissaire Aux Comptes Suppleant : Beas Sarl (Sarl). Activite : . Commentaires : Modification Survenue Sur L'administration.
11/07/2014	JAL	Resignation / Revocation Of The Social Representative
Terres De Bourgogne Date De Decision : 19/06/2014 La Societe 440326692 - APERAM ALLOYS IMPHY, AV JEAN JAURES, 58160 IMPHY Fait L'objet Du Depart De Monsieur Philippe DARMAYAN, 18 Rue Arnaudmoisan, 75000, PARIS 15
11/07/2014	JAL	Appointment Of The Social Representative
Terres De Bourgogne Date De Decision : 19/06/2014 Societe Faisant L'objet D'une Nomination : 440326692 - APERAM ALLOYS IMPHY, AV JEAN JAURES, 58160 IMPHY Nomine : Monsieur Frederic Mattei, 71100 CHALON SUR SAONE En La Fonction De : President
26/12/2013	Bodacc B	Modification Et Mutation Diverse
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 2126 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Administration : President : Darmayan Philippe Commissaire Aux Comptes Titulaire : Deloitte & Associes Sa (Sa) Commissaire Aux Comptes Suppleant : Beas Sarl (Sarl). Activite : . Commentaires : Modification Survenue Sur L'administration.
13/12/2013	JAL	Resignation / Revocation Of The Social Representative
Terres De Bourgogne Date De Decision : 28/06/2013 La Societe 440326692 - APERAM ALLOYS IMPHY, AV JEAN JAURES, 58160 IMPHY Fait L'objet Du Depart De Monsieur Julien Burdeau
13/12/2013	JAL	Appointment Of The Social Representative
Terres De Bourgogne Date De Decision : 28/06/2013 Societe Faisant L'objet D'une Nomination : 440326692 - APERAM ALLOYS IMPHY, AV JEAN JAURES, 58160 IMPHY Nomine : Monsieur Philippe Darmayan, 75000 PARIS 15 En La Fonction De : President
20/11/2013	Bodacc C	Comptes Annuels Et Rapports
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 4582 - 440326692 Rcs. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Adresse : Avenue Jean Jaurã¨S 58160 Imphy.Commentaires : Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2012.
05/03/2013	Bodacc B	Modification Et Mutation Diverse
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 1097 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee à Associe Unique. Administration : President : Burdeau Julien President : Darmayan Philippe Commissaire Aux Comptes Titulaire : Deloitte & Associes Sa (Sa) Commissaire Aux Comptes Suppleant : Beas Sarl (Sarl).Activite : . Commentaires : Modification Survenue Sur L'administration.
22/02/2013	JAL	Appointment Of The Social Representative
Terres De Bourgogne Date De Decision : 06/11/2012 Societe Faisant L'objet D'une Nomination : 440326692 - APERAM ALLOYS IMPHY, AV JEAN JAURES, 58160 IMPHY Nomine : Monsieur Philippe Darmayan, 75015 PARIS 15 En La Fonction De : President
23/12/2012	Bodacc B	Modification Et Mutation Diverse
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 941 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Anonyme. Administration : President Du Conseil D'administration Et Directeur General : Burdeau Julien Administrateur : Bazetoux Guillaume Administrateur : Hebeisen Bernard Administrateur : Aperam Invest France (Sas) Represente Par Onillon Julien Commissaire Aux Comptes Titulaire : Deloitte & Associes Sa (Sa) Commissaire Aux Comptes Suppleant : Beas Sarl (Sarl). Activite : . Adresse Du Siã¨Ge Social : Avenue Jean Jaurã¨S, 58160 Imphy. Commentaires : Modification Survenue Sur L'administration Et Transfert Du Siã¨Ge Social.
23/12/2012	Bodacc B	Modification Et Mutation Diverse
58 - Nievre Greffe Du Tribunal De Commerce De Nevers 943 - 440 326 692 Rcs Nevers. Aperam Alloys Imphy. Forme : Societe Par Actions Simplifiee. Administration : President : Burdeau Julien Commissaire Aux Comptes Titulaire : Deloitte & Associes Sa (Sa) Commissaire Aux Comptes Suppleant : Beas Sarl (Sarl). Activite : . Commentaires : Modification Survenue Sur La Forme Juridique, L'administration.
30/11/2012	JAL	Head Office Transfer
Terres De Bourgogne Date De Decision : 24/04/2012 Transfert Du Siã¨Ge Social De La Societe 440326692 -  APERAM ALLOYS IMPHY Adresse Du Nouveau Siã¨Ge : AVENUE JEAN JAURES, 58160 IMPHY Ancienne Localisation : 1 RUE LUIGI CHERUBINI, 1-5, SAINT DENIS, 93210 SAINT DENIS Date D'effet : 24/04/2012
26/11/2012	JAL	Head Office Transfer
Petites Affiches (Les) - La Loi - Le Quotidien Juridique - Archives Commerciales De La France Date De Decision : 24/04/2012 Transfert Du Siã¨Ge Social De La Societe 440326692 -  APERAM ALLOYS IMPHY Adresse Du Nouveau Siã¨Ge : AVENUE JEAN JAURES, 58160 IMPHY Ancienne Localisation : 1 RUE LUIGI CHERUBINI, 1-5, SAINT DENIS, 93210 SAINT DENIS Date D'effet : 24/04/2012
03/09/2012	Bodacc C	Comptes Annuels Et Rapports
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 12247 - 440326692 Rcs. Aperam Alloys Imphy. Forme : Societe Anonyme. Adresse : 1 à 5 Rue Luigi Cherubini Saint-Denis 93200 Saint-Denis. Commentaires :Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2011.
31/10/2011	Bodacc C	Comptes Annuels Et Rapports
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 13335 - 440326692 Rcs. Aperam Alloys Imphy. Forme : Societe Anonyme. Adresse : 1 à 5 Rue Luigi Cherubini Saint-Denis 93200 Saint-Denis. Commentaires :Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2010.
20/03/2011	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 1583 - 440 326 692 Rcs Bobigny. Aperam Alloys Imphy. Forme : Societe Anonyme. Administration : Commissaire Aux Comptes Suppleant : Beas En Fonction Le 22 Septembre 2008 Commissaire Aux Comptes Titulaire : Deloitte & Associes En Fonction Le 22 Septembre 2008 President Du C. A. Directeur General Et Administrateur : Burdeau Julien, Mathieu, Franã§Ois En Fonction Le 19 Aoã»T 2009 Administrateur : Bazetoux Guillaume, Nicolas, Philippe En Fonction Le 19 Aoã»T 2009 Administrateur : Hebeisen Bernard, Henri, Jean En Fonction Le 19 Aoã»T 2009 Administrateur : Aperam Invest France Represente Par Onillon Julien, Jean, Maurice, Franã§Ois En Fonction Le 11 Mars 2011. Activite : . Commentaires : Modification De Representant. Modification Du Nom, Nom D'usage, Prenom Ou De La Denomination.
17/03/2011	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 1636 - 440 326 692 Rcs Bobigny. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Administration : Administrateur : Arcelormittal France Represente Par Bourrier Herve Modification Le 09 Mars 2011 Commissaire Aux Comptes Suppleant : Beas En Fonction Le 22 Septembre 2008 Commissaire Aux Comptes Titulaire : Deloitte & Associes En Fonction Le 22 Septembre 2008 President Du C. A. Directeur General Et Administrateur : Burdeau Julien, Mathieu, Franã§Ois En Fonction Le 19 Aoã»T 2009 Administrateur : Bazetoux Guillaume, Nicolas, Philippe En Fonction Le 19 Aoã»T 2009 Administrateur : Hebeisen Bernard, Henri, Jean En Fonction Le 19 Aoã»T 2009. Activite : . Commentaires : Modification De Representant.
08/03/2011	JAL	Appointment Of The Social Representative
Petites Affiches (Les) - La Loi - Le Quotidien Juridique - Archives Commerciales De La France Societe Faisant L'objet D'une Nomination : 440326692 - ARCELORMITTAL-STAINLESS&NICKEL ALLOYS, 1 RUE LUIGI CHERUBINI, 1-5, SAINT DENIS, 93210 SAINT DENIS Nomine : En La Fonction De : Administrateur Date D'effet : 28/01/2011
11/10/2010	Bodacc C	Comptes Annuels Et Rapports
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 13508 - 440326692 Rcs. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Adresse : 1 à 5 Rue Luigi Cherubini Saint-Denis 93200 Saint-Denis.Commentaires : Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2009.
23/12/2009	Bodacc C	Comptes Annuels Et Rapports
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 9460 - 440326692 Rcs. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Adresse : 1 à 5 Rue Luigi Cherubini Saint-Denis 93200 Saint-Denis.Commentaires : Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2008.
28/08/2009	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 683 - 440 326 692 Rcs Bobigny. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Administration : Administrateur : Arcelormittal France Represente Par Gilet Jean Yves Modification Le 12 Fevrier 2008 Commissaire Aux Comptes Suppleant : Beas En Fonction Le 22 Septembre 2008 Commissaire Aux Comptes Titulaire : Deloitte & Associes En Fonction Le 22 Septembre 2008 President Du C. A. Directeur General Et Administrateur : Burdeau Julien, Mathieu, Franã§Ois En Fonction Le 19 Aoã»T 2009 Administrateur : Bazetoux Guillaume, Nicolas, Philippe En Fonction Le 19 Aoã»T 2009 Administrateur : Hebeisen Bernard, Henri, Jean En Fonction Le 19 Aoã»T 2009. Commentaires : Modification De Representant.
01/10/2008	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 3210 - 440 326 692 Rcs Bobigny. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Administration : Administrateur : Arcelormittal France Represente Par Gilet Jean Yves Modification Le 12 Fevrier 2008. President Directeur General Et Administrateur : Chaboud Michel. Administrateur : Jouron Arnaud En Fonction Le 28 Juin 2007. Commissaire Aux Comptes Suppleant : Beas En Fonction Le 22 Septembre 2008. Commissaire Aux Comptes Titulaire : Deloitte & Associes En Fonction Le 22 Septembre 2008. Commentaires : Modification De Representant.
26/08/2008	Bodacc C	Comptes Annuels Et Rapports
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 9311 - 440326692 Rcs. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Adresse : 1 à 5 Rue Luigi Cherubini 93200 Saint-Denis. Commentaires : Comptes Annuels Et Rapports De L'exercice Clos Le : 31/12/2007.
21/02/2008	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 4331 - 440 326 692 Rcs Bobigny. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Administration : Commissaire Aux Comptes Suppleant : Scp De Commissaires Aux Comptes Jean Claude Andre Et Autres. Commissaire Aux Comptes Titulaire : Kpmg S. A. Administrateur : Arcelormittal France Represente Par Gilet Jean Yves Modification Le 12 Fevrier 2008. President Directeur General Et Administrateur : Chaboud Michel. Administrateur : Jouron Arnaud En Fonction Le 28 Juin 2007. Commentaires : Modification De Representant.
23/01/2008	Bodacc B	Modification Et Mutation Diverse
93 - Seine-Saint-Denis Greffe Du Tribunal De Commerce De Bobigny 1904 - 440 326 692 Rcs Bobigny. Arcelormittal - Stainless & Nickel Alloys. Forme : Societe Anonyme. Commentaires : Modification Du Nom Ou De La Denomination.
19/07/2007	Bodacc B	Modifications Et Mutations Diverses
3356 - RCS Bobigny B 440 326 692. RC 06-B 3121. IMPHY ALLOYS. Forme : S.A. Commentaires : Modification Survenue Sur L'administration. Administration : Administrateur Partant : CARAKEHIAN (Yves). Nomination D'un Administrateur : JOURON (Arnaud).
30/06/2007	Bodacc C	Avis De Depã´T Des Comptes
7128 - 440 326 692. RCS Bobigny IMPHY ALLOYS. Forme: Societe Anonyme. Adresse Du Siã¨Ge Social: 1 à 5 Rue Luigi Cherubini Saint-Denis , 93200 Saint-Denis. Comptes Annuels Et Rapports De L'exercice Clos Le: 31 Decembre 2006.
31/03/2007	Bodacc B	Modifications Et Mutations Diverses
1942 - RCS Bobigny B 440 326 692. RC 06-B 3121. IMPHY ALLOYS. Forme : S.A. Commentaires : Modification Survenue Sur L'administration. Administration : Administrateur Partant : POLARD (Victor).
17/01/2007	Bodacc C	Avis De Depã´T Des Comptes
8877 - RCS Bobigny B 440 326 692. RC 06-B 3121. IMPHY ALLOYS. Forme: S.A. Adresse Du Siã¨Ge Social: 1, A 5 Rue Luigi Cherubini,Saint Denis, 93200 Saint-Denis. Comptes Annuels Et Rapports De L'exercice Clos Le: 31 Decembre 2005.
16/06/2006	Bodacc B	Modifications Et Mutations Diverses
2277 - RCS Bobigny B 440 326 692. RC 06-B 3121. IMPHY ALLOYS. Forme : S.A. Adresse Du Siã¨Ge Social : 1/5 Rue Luigi-Cherubini,, 93200 Etablissement Principal - Adresse : 1/5 Rue Luigi-Cherubini, 93200 Commentaires : Modification Survenue Sur L'adresse Du Siã¨Ge Social Et L'adresse De l'Etablissement Principal.
16/02/2006	Bodacc C	Avis De Depã´T Des Comptes
3529 - RCS Nanterre B 440 326 692. RC 01-B 6131. IMPHY ALLOYS. Forme: S.A. Adresse Du Siã¨Ge Social: Immeuble La Pacific 11/13, Cours Valmy,La Defense 7, 92800 Puteaux. Comptes Annuels Et Rapports De L'exercice Clos Le: 31 Decembre 2004.
08/01/2006	Bodacc B	Modifications Et Mutations Diverses
2306 - RCS Nanterre B 440 326 692. RC 01-B 6131. IMPHY ALLOYS. Forme : S.A. Activite : Fabrication De Tous Produits Lamines En Alliage Et D'autres Produits Metallurgiques Achat, Vente, Import-Export Des Mãªmes Produits. Creation, Acquisition, Obtention Et Cession De Brevets, De Marques De Fabrique Ou De Commerce Et De Procedes Quelconques, Ainsi Que Toutes Additions Et Licences . Commentaires : Modification Survenue Sur L'activite Et L'administration. Administration : Administrateur Partant : IMPHY UGINE PRECISION, Representee Par CHABOUD (Michel). P.-D.G. Partant : DANEL (Noã«L). Nomination D'administrateurs : USINOR, Representee Par GILET (Jean, Yves) POLARD (Victor). Nomination Du P.-D.G. Et Administrateur : CHABOUD (Michel).
04/04/2004	Bodacc A	Creation d'Etablissement
Rcs B 440326692 Rc 04-B 73 Imphy Alloys. Forme : S.A. Adresse Du Siã¨Ge Social : Immeuble La Pacific, 11-13 Cours Valmy, 92800 Puteaux Etablissement Secondaire. Activite : Fabrication De Tous Produits Lamines En Alliages Et Autres Produits Metallurgiques. Adresse : Avenue Jean- Jaurã¨S, 58160 Imphy Etablissement Secondaire Acquis Par Apport Au Montant Evalue à 34 902 365 Euros Date De Debut D'activite: 1 E R Decembre 2003. Precedent Proprietaire : Imphy Ugine Precision. Rcs B 410436265 Publication Legale: Les Petites Affiches Du 2 Decembre 2003 Declaration De Creances: Au Tribunal De Commerce De Nevers.
11/01/2004	Bodacc B	Modifications Et Mutations Diverses
RCS Nanterre B 440326692 RC 01-B 6131 IMPHY ALLOYS. Forme : S.A. Capital : 35 038 200 Euros. Activite : Fabrication De Tous Produits Lamines En Aliages Et D'autres Produits Metallurgiques Achat, Vente Et Import-Export De Memes Produits. Creation, Acquisition, Obtention, Cession De Brevets, De Marques De Fabrique Ou De Commerce Et De Procedes Quelconques, Ainsi Que Toutes Additions Et Licences. Commentaires : Modification Survenue Sur La Denomination, Le Capital (Augmentation), L'activite Et L' Administration. Administration : P.-D.G. Partant : CAUVIN (Emmanuel, Joseph, Marie). Administrateurs Partants : CHAOUCH (Jacques, Maurice) RIZZI ( Vanessa, Eleonora, Marie). Nomination D' Administrateurs : IMPHY UGINE PRECISION, Representee Par VASSORT (Francis) GILET (Jean, Yves). Nomination Du P.-D. G. : DANEL (Noel). Nomination D'un Administrateur : CARAKEHIAN (Yves).
06/12/2002	Bodacc B	Modifications Et Mutations Diverses
RCS Nanterre B 440326692 RC 01-B 6131 TORS. Forme : S.A. Commentaires : Modification Survenue Sur L' Administration. Administration : Commissaire Aux Comptes Titulaire Partant : DELOITTE TOUCHE TOHMATSU. Commissaire Aux Comptes Suppleant Partant : BEAS. Nomination D'un Commissaire Aux Comptes Suppleant : S.C. P. DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES. Nomination D'un Commissaire Aux Comptes Titulaire : K.P. M.G. S.A.

Company events history

Date	Description
06/12/2014	Update Of Participations In Other Companies
05/11/2014	Bodacc A : Sale And Transfer
27/10/2014	Merger
24/09/2014	Bodacc C : Deposit Accounts Notice
16/09/2014	Update Limit
16/09/2014	Update Rating
16/09/2014	Consideration Of A Balance Sheet That Has Led To A Reassessment Of This Company's Creditworthiness
03/09/2014	Amendment
03/09/2014	Updated Articles Of Association
25/07/2014	Bodacc B: Various Editing Or Changing
11/07/2014	Legal Gazette: Resignation / Revocation Of The Social Representative
04/07/2014	Amendment
04/07/2014	New Chairman (CEO, Cob)
19/06/2014	Legal Gazette: Appointment Of The Social Representative
31/12/2013	New Accounts Available
26/12/2013	Bodacc B: Various Editing Or Changing
13/12/2013	Legal Gazette: Resignation / Revocation Of The Social Representative
04/12/2013	Minutes Of General Meeting Of Shareholders
04/12/2013	New Chairman (CEO, Cob)
20/11/2013	Bodacc C : Deposit Accounts Notice
29/10/2013	Update Limit
29/10/2013	Update Rating
29/10/2013	Consideration Of A Balance Sheet That Has Led To A Reassessment Of This Company's Creditworthiness
16/10/2013	Update Rating
16/10/2013	Update Limit
14/09/2013	Update Rating
14/09/2013	Update Limit
13/09/2013	Collection Of Preferential Rights For This Company Has Been Stopped By The Court
28/06/2013	Legal Gazette: Appointment Of The Social Representative
12/06/2013	Consideration Of A Balance Sheet That Has Led To A Reassessment Of This Company's Creditworthiness
05/03/2013	Bodacc B: Various Editing Or Changing
18/02/2013	Amendment
18/02/2013	Updated Articles Of Association
18/02/2013	New Chairman (CEO, Cob)
18/02/2013	New Legal Form €“ New Category
31/12/2012	New Accounts Available
23/12/2012	Bodacc B: Various Editing Or Changing
01/12/2012	Formation Of Establishment
30/11/2012	Legal Gazette: Head Office Transfer
29/11/2012	Audit Or Management Report
29/11/2012	Updated Articles Of Association
29/11/2012	Minutes Of Board Meeting
29/11/2012	Minutes Of General Meeting Of Shareholders
29/11/2012	Changes To The Board Of Directors
29/11/2012	New Legal Form €“ New Category
29/11/2012	Registered Office Transferred Inside Jurisdiction Of The Commercial Court
26/11/2012	Legal Gazette: Head Office Transfer
06/11/2012	Modification To Company Identifier
06/11/2012	Legal Gazette: Appointment Of The Social Representative
06/11/2012	Update Of Company Legal Form
24/10/2012	New Filling Of Social Security Preferential Right
03/09/2012	Bodacc C : Deposit Accounts Notice
01/07/2012	Update Of Company Legal Form
01/07/2012	Modification To Company Identifier
24/04/2012	Transfer Of Establishment
24/04/2012	Update Of Company Head Office Identifier
31/12/2011	New Accounts Available
11/11/2011	Consideration Of A Balance Sheet That Has Led To A Reassessment Of This Company's Creditworthiness
31/10/2011	Bodacc C : Deposit Accounts Notice
02/09/2011	Update Of Participations In Other Companies
02/09/2011	Disengagement Of The Group
02/09/2011	New Ultimate Parent
02/09/2011	New Parent Detected
01/04/2011	New Subsidiarie(S) Detected
20/03/2011	Bodacc B: Various Editing Or Changing
17/03/2011	Bodacc B: Various Editing Or Changing
11/03/2011	Amendment
11/03/2011	Acte Modificatif
11/03/2011	Updated Articles Of Association
11/03/2011	Statuts Mis à Jour
11/03/2011	PV D'assemblee
11/03/2011	Minutes Of General Meeting Of Shareholders
11/03/2011	Nomination/Demission Des Organes De Gestion
11/03/2011	Appointment/Resignation Of Company Officers
11/03/2011	Modification Du Conseil d'Administration
11/03/2011	Changes To The Board Of Directors
11/03/2011	Changement De Denomination Sociale
11/03/2011	New Company Name
09/03/2011	Acte Modificatif
09/03/2011	Nomination/Demission Des Organes De Gestion
09/03/2011	Appointment/Resignation Of Company Officers
09/03/2011	Amendment
28/01/2011	Legal Gazette: Appointment Of The Social Representative
31/12/2010	New Accounts Available
11/10/2010	Bodacc C : Deposit Accounts Notice
21/03/2010	A Social Security Preferential Right Lapsed
02/03/2010	New Subsidiarie(S) Detected
31/12/2009	New Accounts Available
23/12/2009	Bodacc C : Deposit Accounts Notice
28/08/2009	Bodacc B: Various Editing Or Changing
19/08/2009	New Chairman (CEO, Cob)
19/08/2009	Modification Du Conseil d'Administration
19/08/2009	Changes To The Board Of Directors
19/08/2009	Private Document
19/08/2009	Appointment/Resignation Of Company Officers
19/08/2009	Minutes Of General Meeting Of Shareholders
19/08/2009	Minutes Of Board Meeting
19/08/2009	Acte Modificatif
19/08/2009	Amendment
19/08/2009	Changement De President (PDG, PCA)
19/08/2009	Nomination/Demission Des Organes De Gestion
31/12/2008	New Accounts Available
12/11/2008	New Auditor
12/11/2008	Minutes Of General Meeting Of Shareholders
12/11/2008	Private Document
12/11/2008	Appointment/Resignation Of Company Officers
01/10/2008	Bodacc B: Various Editing Or Changing
01/10/2008	New Bodacc B Ads Detected
22/09/2008	Minutes Of General Meeting Of Shareholders
22/09/2008	PV D'assemblee
22/09/2008	Appointment/Resignation Of Company Officers
22/09/2008	Private Document
22/09/2008	Changement De Commissaire Aux Comptes
22/09/2008	New Auditor
26/08/2008	Bodacc C : Deposit Accounts Notice
17/04/2008	Payment Incident Closed
07/03/2008	Payment Incident Detected
21/02/2008	New Bodacc B Ads Detected
21/02/2008	Bodacc B: Various Editing Or Changing
23/01/2008	New Bodacc B Ads Detected
23/01/2008	Bodacc B: Various Editing Or Changing
09/01/2008	Changement De Denomination Sociale
09/01/2008	New Company Name
09/01/2008	Private Document
09/01/2008	Updated Articles Of Association
09/01/2008	Minutes Of General Meeting Of Shareholders
09/01/2008	Statuts Mis à Jour
09/01/2008	PV D'assemblee
31/12/2007	New Accounts Available
21/09/2007	Filling Of Preferential Right
21/09/2007	New Filling Of Social Security Preferential Right
13/09/2007	Collection Of Preferential Rights Activated For This Company
28/06/2007	Changes To The Board Of Directors
28/06/2007	Modification Du Conseil d'Administration
28/06/2007	Appointment/Resignation Of Company Officers
28/06/2007	Acte Modificatif
28/06/2007	PV Du Conseil d'Administration
28/06/2007	Minutes Of General Meeting Of Shareholders
28/06/2007	PV D'assemblee
28/06/2007	Declaration Of Conformity
28/06/2007	Declaration De Conformite
28/06/2007	Private Document
29/03/2007	Private Document
29/03/2007	Planned Merger
29/03/2007	Acte Modificatif
29/03/2007	Amendment
29/03/2007	Apport Partiel
08/03/2007	Acte Modificatif
08/03/2007	Private Document
08/03/2007	Changes To The Board Of Directors
08/03/2007	Minutes Of Board Meeting
08/03/2007	Modification Du Conseil d'Administration
08/03/2007	Appointment/Resignation Of Company Officers
31/12/2006	New Accounts Available
23/10/2006	PV D'assemblee
23/10/2006	Statuts Mis à Jour
20/10/2006	Updated Articles Of Association
20/10/2006	Minutes Of General Meeting Of Shareholders
20/10/2006	Private Document
20/10/2006	Registration After Transfer
26/05/2006	Updated Articles Of Association
26/05/2006	Acte Modificatif
26/05/2006	Statuts Mis à Jour
26/05/2006	PV Du Conseil d'Administration
26/05/2006	Minutes Of Board Meeting
26/05/2006	Private Document
26/05/2006	Acte Sous Seing Prive
26/05/2006	Registration After Transfer
26/05/2006	Transfert Du Siã¨Ge Hors Du Ressort Du Tribunal De Commerce
26/05/2006	Immatriculation Suite à Transfert
31/12/2005	New Accounts Available
15/12/2005	Modification Du Conseil d'Administration
15/12/2005	Acte Sous Seing Prive
15/12/2005	Private Document
15/12/2005	Minutes Of Board Meeting
15/12/2005	PV Du Conseil d'Administration
15/12/2005	Acte Modificatif
15/12/2005	Amendment
15/12/2005	Changement De President (PDG, PCA)
15/12/2005	Nomination/Demission Des Organes De Gestion
31/12/2004	New Accounts Available
17/11/2004	Nomination/Demission Des Organes De Gestion
31/12/2003	New Accounts Available
29/12/2003	Apport Partiel
29/12/2003	Acte Modificatif
29/12/2003	Statuts Mis à Jour
29/12/2003	PV Du Conseil d'Administration
29/12/2003	PV D'assemblee
29/12/2003	Augmentation De Capital
29/12/2003	Modification De L'objet Social
29/12/2003	Changement De Denomination Sociale
29/12/2003	Changement De President (PDG, PCA)
29/12/2003	Modification Du Conseil d'Administration
29/12/2003	Nomination/Demission Des Organes De Gestion
18/11/2003	Rapport Des Commissaires Ou Du Gerant
18/11/2003	Acte Sous Seing Prive
30/10/2003	Acte Sous Seing Prive
30/10/2003	Projet De Fusion
30/10/2003	Apport Partiel
23/11/2002	Acte Sous Seing Prive
23/11/2002	Changement De Commissaire Aux Comptes
23/11/2002	PV D'assemblee
23/11/2002	Nomination/Demission Des Organes De Gestion
28/12/2001	Formation De Societe
28/12/2001	Acte Sous Seing Prive
28/12/2001	Statuts
28/12/2001	Nomination/Demission Des Organes De Gestion
28/12/2001	PV Du Conseil d'Administration
28/12/2001	Certificat De Depã´T Des Fonds

Establishment events history

Date	Description
06/04/2014	Update Rating
26/12/2013	Update Limit
26/12/2013	Update Rating
14/09/2013	Update Limit
14/09/2013	Update Rating
12/01/2013	Update of phone numbers
01/12/2012	Modification of Head office
01/07/2012	Modification of Head office
24/04/2012	Modification of Head office (after transfer)
24/04/2012	Update of Establishment Activity
18/03/2008	Update of phone numbers
17/03/2008	Update of phone numbers
22/02/2008	Update of phone numbers

directors

Name	M. MATTEI FRÉDÉRIC
Manager position	President	Date of birth	20/07/1973
Place of birth	TOURS (37)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M JULIEN BURDEAU	9/21/1971 - RENNES (35)
President	M PHILIPPE DARMAYAN	5/3/1952 - ALGER(ALGERIE)
Chairman of the Board	M JULIEN BURDEAU	- - -
Managing director	M JULIEN BURDEAU	- - -
Administrator	ARCELORMITTAL FRANCE	- - -
Administrator	ARCELORMITTAL FRANCE	- - -
Administrator	M GUILLAUME BAZETOUX	- - -
Administrator	M JULIEN BURDEAU	- - -
Administrator	M BERNARD HEBEISEN	- - -

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.90
UK Pound	1	Rs.71.82
Euro	1	Rs.97.97

INFORMATION DETAILS

Analysis Done by :	DIV
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.