MIRA INFORM REPORT

Report No. :	325871
Report Date :	13.06.2015

IDENTIFICATION DETAILS

Name :	ETAM PRET A PORTER
Registered Office :	57 A 59, 57 Rue Henri Barbusse, 92110 Clichy
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	May 1986
Com. Reg. No.:	337 598 866
Legal Form :	Simplified joint stock company
Line of Business :	Subject is engaged in retail sale of clothing in specialized stores
No. of Employee :	1 000 to 1 999

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 more than 84 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP increased by 0.4% in 2014. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.5% in 2014. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 24.3% in the fourth quarter of 2014. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.3% of GDP in 2014, while France's public debt rose from 68% of GDP to more than 92% over the same period. Elected on a conventionally leftist platform, President Francois HOLLANDE surprised and angered many supporters with a January 2014 speech announcing a sharp change in his economic policy, recasting himself as a liberalizing reformer. The government's budget for 2014 shifted the balance of fiscal consolidation from taxes to a total of $24 billion in spending cuts. In December 2014, HOLLANDE announced additional reforms, including a plan to extend commercial business hours, liberalize professional services and sell off $6.2-12.4 billion in state owned assets. France’s tax burden remains well above the EU average and income tax cuts over the past decade are being partly reversed, particularly for higher earners. The top rate of income tax is 41%. The government is allowing a 75% payroll tax on salaries over $1.24 million to lapse.

Source : CIA

Company name

09/06/2015 07:12:27

ETAM PRET A PORTER

ETAM PRET A PORTER - 337 598 866 00032

SIRET	337 598 866 00032	Click to view full map.
Name	ETAM PRET A PORTER
Acronym	-
Trade name	ETAM PRET A PORTER
Status	Economically active
Postal Address	ETAM PRET A PORTER 57 A 59 57 RUE HENRI BARBUSSE 92110 CLICHY
Share Capital	6,500,980 Euros
Incorporiation Date	05/1986
Activity (APE)	Retail sale of clothing in specialized stores (4771Z)	RCS Registration	RCS Nanterre B 337 598 866
Formation Date	02/1986	EUR VAT Number	FR16337598866
Deregistration Date	-	Last account Date	31/12/2013
Court Registry Number	20 0 4B06031	Telephone	04 93 77 29 46
Registration Court	Nanterre (92)	Fax	-
Nationality	France
		Legal form	Simplified joint stock company
		Currency	Euros

Key Financials

Year to date	Turnover	Gross operating surplus	Shareholder's equity	Net result	Employees
31/12/2013	204,963,361 €	-3.97% Turnover	14,139,809 €	-1,117,678 €	1 000 to 1 999 employees
31/12/2012	213,531,044 €	-7.09% Turnover	15,917,338 €	-26,015,723 €	-
31/12/2011	223,595,746 €	-7.56% Turnover	-39,456,226 €	-25,886,572 €	-

Details

Ultimate Holding Company

Name	Safe Number	Country	Company Number
ETAM DEVELOPPEMENT	FR16452965		308382035
Affiliation links. View Details
10 companies in the international Group Structure from 8 countries. View Details

Directors

Current Directors

3

View Details

Payment Data Programme

To share your payment experience on this company Click Here

Preferential Right

No social security and tax office preferential right to date

Payment Information Summary – Trade Payment Data

Total number of Invoices available	79
Total number of Invoices paid within or up to 30 days after the due date	34
Total number of Invoices paid more than 30 days after the dues date	45
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

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	4771Z	Activity	Retail sale of clothing in specialized stores
Formation Date	01/2005	Reason for Formation	Other
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	Other
Trading Address	57 RUE HENRI BARBUSSE 92110 CLICHY	Department	Hauts-de-Seine (92)
Location Surface	-	District	2
City	CLICHY	Status	Economically active
Business Pages FT®	VETEMENTS POUR HOMMES ET DAMES (DETAIL)	Region	Ile-de-France
		Area	91
		Size of Urban Area	Paris conglomeration

Ultimate Parent(s)

1 ultimate parent company/companies for this company

Company Name	Activity (APE)	APE/NAF Code	City	Post Code
ETAM DEVELOPPEMENT	Activités des sociétés holding	6420Z	PARIS 4	75004

Other Establishment(s)

Regionality	Legal unit with multiple establishments in many areas but no one grouping more than 50% of workforce
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce
Branches	229 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
ETAM PRET A PORTER	Head Office	4771Z	Retail sale of clothing in specialized stores	CLICHY	92110
ETAM PRET A PORTER	Branch	4771Z	Retail sale of clothing in specialized stores	NICE	06000
ETAM PRET A PORTER	Branch	4771Z	Retail sale of clothing in specialized stores	CANNES	06400
ETAM PRET A PORTER	Branch	4771Z	Retail sale of clothing in specialized stores	MENTON	06500
ETAM PRET A PORTER	Branch	4771Z	Retail sale of clothing in specialized stores	MARSEILLE 1	13001

View Details

Workforces

Workforce at address

50 to 99 employees

Company workforce

1 000 to 1 999 employees

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

The increase in the gearing percentage over the last two accounting periods is 16 %

The decrease of tangible fixed assets over the last two accounting periods is 31 %

The return on total assets employed is -2

The ratio total assets to total liabilities is 1.15

The pre-tax profit is -2,102,024 €

The stock to turnover ratio is 12.41

The creditor days are 60.43

The sales to current assets ratio is 3.04

Department code with low risk rating

Industry code with low risk rating

The company has 3 directors

Low risk workforce size

The total assets are 109,953,155 €

The risk provisions are 2,812,853 €

The net turnover is 204,963,361 €

The net current assets are 67,512,527 €

The liabilities are 93,000,493 €

The shareholder's equity is 14,139,809 €

Industry comparison

Activity (APE)	Retail sale of clothing in specialized stores (4771Z)
industry average credit rating	44
industry average credit limit	6,898

Collective procedures

No judgment information for the company

Preferential rights details and history

Summary of preferential rights

Company monitored since	06/11/2008
Status of Monitoring	No social security and tax office preferential right to date

Preferential rights details and history

Summary of preferential rights

Company monitored since	06/11/2008
Status of Monitoring	No social security and tax office preferential right to date

Group Data

Ultimate parent company	ETAM DEVELOPPEMENT
Direct parent	ETAM DEVELOPPEMENT - 100 %
Group – Number of companies	42
Linkages – Number of companies	10
Number of countries	8

Group Structure

Go directly to the current company

Where you see these flags click straight through for a Creditsafe online report

When the company name is displayed as a link, you will be redirected to the company search if the country is in Creditnet area or in offline requests

Rating Information

		Name	SIREN	Parts	Last account published
1		ETAM DEVELOPPEMENT	308382035	-	31/12/2010
2		NORTEX	552036121	99.97 %	31/12/2013
		ENTREPOTS LINGERIE	432220275	100 %	31/12/2013
		NORPIERRE	450967831	100 %	31/12/2013
		ELAN INDUSTRIES	344825245	99.96 %	31/12/2013
		COVI 2	479598336	100 %	31/12/2013
		UNDIZ	478356116	100 %	31/12/2013
		ETAM PRET A PORTER	337598866	100 %	31/12/2013
		1.2.3.	444600464	100 %	31/12/2013
2		ETAM	552015307	100 %	31/12/2013
3		ETAM BELGIQUE SA	-	100 %	-
4		FONCIERE ETEL SA	400558926	70 %	31/12/2013
		NORTEX	552036121	0.03 %	31/12/2013
		ELAN INDUSTRIES	344825245	0.02 %	31/12/2013
		MOA	441217395	25 %	31/12/2013
3		ETAMINT SA	465095796	100 %	31/12/2013
4		FONCIERE ETEL SA	400558926	30 %	31/12/2013
		123 GMBH	-	100 %	-
4		MODASIA HOLDINGS SA	-	80.85 %	-
5		SHANGHAI AIGE LTD	-	100 %	-
		SHANGHAÏ INTERMODA CLOTHING CO LTD	-	100 %	-
		SHANGHAÏ INTERMAY CLOTHING CO.LTD	-	100 %	-
		ELEGANT SHANGHAÏ TRADING CO.LTD	-	100 %	-
		ELEGANT TIME INTERNATIONAL LTD	-	100 %	-
		EIS MAGHREB	-	100 %	-
		EIS BELGIQUE	-	100 %	-
		EIS TUNISIE	-	100 %	-
		1 2 3 LUXEMBOURG S.A.	B55215	100 %	-
		SOCIÉTÉ LUXEMBOURGEOISE ETAM SA	-	100 %	-
		UNIVERSAL BUYING OFFICE	-	60 %	-
		IFLEM	-	100 %	-
		ETAM ITALIA S.R.L. IN LIQUIDAZIONE	MB1567595	100 %	31/12/2012
		EIS ROUMANIE	-	100 %	-
		IFEM	-	99 %	-
		EIS CHINE	-	100 %	-
		ETAM POLAND SP	-	100 %	-
		ETAM FINANCES	479494379	18.18 %	31/12/2013
		ETAM LINGERIE	478355753	100 %	31/12/2013
		ENTREPOTS COMPANS	411699473	100 %	31/12/2013
		ETAM DESTOCK	444600134	100 %	31/12/2013
		ETAM FORMATION	450989306	100 %	31/12/2013
		ETAMINT SINGAPORE PTE LTD	-	100 %	-
		ETAM SCE	450966445	100 %	31/12/2013
		ETAM FUTURE FASHION PRIVATE LIMITED	-	50.01 %	-
		ETAM SUISSE	-	100 %	-
		TAIZHOU AIGE CLOTHING CO. LTD	-	100 %	-
		ETAM DECORATION CO.	-	100 %	-
Shareholders
ETAM DEVELOPPEMENT	100

Linkages

Where you see these flags click straight through for a Creditsafe online report

When the company name is displayed as a link, you will be redirected to the company search if the country is in Creditnet area or in offline requests

Rating Information

Company Name	Safe Number	Siren	Last Account Published	Rating	Limit	Turnover
FINANCIERE CASTERES	FR06996239	444600274	31/12/2010	-	-	0 €
E.T.A.M. - S.R.L.	IT03241219	PE128713	31/12/2007	-	-	552,535 €
1.2.3 TEXTILVERTRIEBS GMBH	DE00983766	HRB 61955	31/12/2013	76	185,000 €	-
L 2 3 TEXTILVERTRIEBS GMBH	DE01379718	HRB 60013	31/12/2009	-	-	-
SOCIÉTÉ LUXEMBOURGEOISE ETAM	LU00141464	B1428	31/12/2013	42	500 €	-
INDUSTRIA FRANCO ESPAÑOLA DE MODA	ES00551437	135033	31/12/2013	70	3,683,700 €	30,756,778 €
SOCIÉTÉ BELGE ETAM SA	BE00013255	400558827	31/12/2013	82	170,000 €	29,473,677 €
GROUPE ETAM SUISSE SA	CH01595549	5573349	-	57	30,000 CHF	-
ETAM LINGERIE LUXEMBOURG	LU00170601	B92279	-	-	-	-
MODASIA HOLDING SA	-	-	-	-	-	-

Director(s)

Name	Mme. SCHOTT MARIE-GENEVIEVE
Manager position	Delegated managing director	Date of birth	03/08/1973
Place of birth	THIONVILLE
Type	Individual	Name at birth
				View Details
Name	Mme. TARICA MARIE CLAIRE
Manager position	Delegated managing director	Date of birth	10/09/1936
Place of birth	NEUILLY SUR SEINE
Type	Individual	Name at birth	MILCHIOR
				View Details

Name	M. MILCHIOR LAURENT
Manager position	President	Date of birth	22/11/1974
Place of birth	NEUILLY SUR SEINE
Type	Individual	Name at birth
				View Details

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Delegated managing director	MME. CHAPELOT NADINE	-	View Details
Delegated managing director	MME. MILCHIOR MARIE	-	View Details
Delegated managing director	Mme. SCHOTT MARIE-GENEVIEVE	03/08/1973 - THIONVILLE	View Details

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
Hide	07/01/2015	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 2039 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Capital : 6500980 EUR. Activité : . Commentaires : Modification du capital.
Hide	02/12/2014	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 11640 - 337598866 RCS. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57-59 rue Henri Barbusse 92110 Clichy. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
Hide	18/11/2014	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 971 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES modification le 07 Novembre 2014 Commissaire aux comptes titulaire : KPMG S. A modification le 07 Novembre 2014 Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004 Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005 Président : MILCHIOR Laurent en fonction le 09 Décembre 2009 Directeur général délégué : SCHOTT Marie-Genevieve en fonction le 22 Novembre 2013 Commissaire aux comptes suppléant : CISANE en fonction le 07 Novembre 2014. Activité : . Commentaires : Modification de représentant.
Hide	19/06/2014	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 2325 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Capital : 5932420 EUR. Activité : . Commentaires : Modification du capital.
Hide	06/05/2014	JAL	Modification of the share capital
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 02/05/2014 La société : 337598866 - ETAM PRET A PORTER, ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY a subi une augmentation de son capital social désormais de 5 932 420 € Date d'effet : 02/05/2014
Hide	01/12/2013	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1161 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES en fonction le 05 Novembre 2004 Commissaire aux comptes titulaire : KPMG S. A modification le 20 Décembre 2005 Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004 Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005 Commissaire aux comptes suppléant : AMEYE Francois en fonction le 20 Décembre 2005 Président : MILCHIOR Laurent en fonction le 09 Décembre 2009 Directeur général délégué : SCHOTT Marie-Genevieve en fonction le 22 Novembre 2013. Activité : . Commentaires : Modification de représentant.
Hide	25/11/2013	JAL	Appointment of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 10/05/2013 Société faisant l'objet d'une nomination : 337598866 - ETAM PRET A PORTER, ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Nominé : Madame Marie- Geneviève SCHOTT, 92110 CLICHY
Hide	08/07/2013	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9821 - 337598866 RCS. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57-59 rue Henri Barbusse 92110 Clichy. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
Hide	14/06/2013	Bodacc A	Vente et cession : Vendeur
06 - ALPES-MARITIMES GREFFE DU TRIBUNAL DE COMMERCE DE CANNES 21 - Réctificatif. Parution avis précédent : BODACC A. Numéro de parution : . Date de parution : 15 mai 2013. Numéro d’annonce : 11. Cet avis est annulé et remplacé par le suivant. 437 380 306 RCS Cannes. BCBG MAX AZRIA GROUP. Forme : Société par actions simplifiée. Capital : 11024405 EUR. Adresse : domaine de Blanchelaine, 26600 Mercurol. Origine du fonds : Achat d'un fonds de commerce au prix stipulé de 400000 Euros. Etablissement : Etablissement principal. Activité : fonds de commerce de prêt-à-porter et accessoires. Adresse : 55-66 rue d'Antibes, 6400 Cannes. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 05/04/2013. Publication légale : Nice Matin du 24/04/2013. Oppositions : Au fonds vendu pour la validité et pour la correspondance. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	15/05/2013	Bodacc A	Vente et cession : Vendeur
06 - ALPES-MARITIMES GREFFE DU TRIBUNAL DE COMMERCE DE CANNES 11 - 437 380 306 RCS Cannes. BCBG MAX AZRIA GROUP. Forme : Société par actions simplifiée. Capital : 11024405 EUR. Adresse : domaine de Blanchelaine, 26600 Mercurol. Origine du fonds : Achat d'un fonds de commerce au prix stipulé de 400000 Euros. Etablissement : Etablissement principal. Activité : fonds de commerce de prêt-à-porter et accessoires. Adresse : 64 rue d'Antibes, 6400 Cannes. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 05/04/2013. Publication légale : Nice Matin du 24/04/2013. Oppositions : Au fonds vendu pour la validité et pour la correspondance. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	13/05/2013	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9093 - 337598866 RCS. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57-59 rue Henri Barbusse 92110 Clichy. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
Hide	24/04/2013	JAL	Activity or goodwill cession: Seller
Nice Matin/Edition de Nice Date de décision : 05/04/2013 Cédant : 337598866 - ETAM PRET A PORTER, ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Cessionnaire : 437380306 - BCBG MAX AZRIA GROUP, DOMAINE DE BLANCHELAINE, 26600 MERCUROL Prix de vente : 400000 € Date d’effet : 05/04/2013
Hide	04/12/2012	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1632 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES en fonction le 05 Novembre 2004 Commissaire aux comptes titulaire : KPMG S. A modification le 20 Décembre 2005 Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004 Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005 Commissaire aux comptes suppléant : AMEYE Francois en fonction le 20 Décembre 2005 Président : MILCHIOR Laurent en fonction le 09 Décembre 2009. Activité : . Commentaires : Modification de représentant.
Hide	23/11/2012	JAL	Resignation / Revocation of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 30/04/2012 La société 337598866 - ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Fait l'objet du départ de Madame Nadine CAUX
Hide	22/08/2012	Bodacc A	Vente et cession : Vendeur
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE DE BOULOGNE-SUR-MER 681 - 380 622 332 RCS Nanterre. ARMAND THIERY SAS. Forme : Société par actions simplifiée. Sigle : AT SAS. Adresse : 2B rue de Villiers, 92300 Levallois-Perret. Origine du fonds : Fonds acquis par achat au prix stipulé de 200000 Euros. Etablissement : Etablissement principal. Activité : fonds de commerce de vente au détail d'articles de textiles, de prêt à porter et de lingerie pour homme, femme, enfant. Adresse : 47/49 rue de Dunkerque, 62500 Saint-Omer. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/08/2012. Publication légale : Gazette Nord Pas de Calais du 14/08/2012. Oppositions : à l'adresse du fonds vendu. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	08/08/2012	JAL	Activity or goodwill cession
Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 24/07/2012 Cédant : 337598866 - ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Cessionnaire : 380622332 - ARMAND THIERY SAS, 2 B RUE VILLIERS, 92300 LEVALLOIS PERRET Prix de vente : 200000 € Date d’effet : 01/08/2012
Hide	05/06/2012	Bodacc A	Vente et cession : Vendeur
84 - VAUCLUSE GREFFE DU TRIBUNAL DE COMMERCE D'AVIGNON 1781 - 391 829 462 RCS Paris. ESPRIT DE CORP. FRANCE. Forme : Société par actions simplifiée. Adresse : 29 33 rue du Louvre, 75002 Paris 02. Origine du fonds : Fonds acquis par achat au prix stipulé de 150000 Euros. Etablissement : Etablissement complémentaire. Activité : prêt à porter de lingerie pour femme. Adresse : 22 rue de la République, 84000 Avignon. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 11/06/2012. Publication légale : les petites affiches du vaucluse du 08/05/2012. Oppositions : Pour la validité à l'adresse du fonds cédé sis 22 rue de la république 84000 avignon et pour la correspondance chez maître julien desclozeaux 10 place des états unis 75116 paris. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	08/05/2012	JAL	Activity or goodwill cession
Petites affiches de Vaucluse et bulletin du palais réunis (Les) Date de décision : 17/04/2012 Cédant : 337598866 - ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Cessionnaire : 391829462 - ESPRIT DE CORP FRANCE, 29 RUE DU LOUVRE, N°29 AU 33., 75002 PARIS 2 Prix de vente : 150000 € Date d’effet : 11/06/2012
Hide	28/06/2010	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 10614 - 337598866 RCS. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57-59 rue Henri Barbusse 92110 Clichy. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
Hide	25/06/2010	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1311 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Capital : 5846820 EUR. Activité : . Commentaires : Modification du capital.
Hide	08/06/2010	JAL	Modification of the share capital
LES PETITES AFFICHES Date de décision : 11/05/2010 La société : 337598866 - ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY a subi une diminution de son capital social désormais de 5 846 820 €
Hide	08/06/2010	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
LES PETITES AFFICHES Date de décision : 11/05/2010 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 337598866 -  ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY
Hide	15/04/2010	Bodacc A	Vente et cession : Vendeur
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 1273 - Réctificatif. Parution avis précédent : BODACC A. Numéro de parution : . Date de parution : 28 février 2010. Numéro d’annonce : 1206. Cet avis est annulé et remplacé par le suivant. 380 622 332 RCS Nanterre. ARMAND THIERY SAS. Forme : Société par actions simplifiée. Sigle : AT-SA. Adresse : 46 rue Raspail, 92593 Levallois-Perret. Origine du fonds : Fonds acquis par achat au prix stipulé de 150000 Euros. Etablissement : Établissement secondaire. Activité : Vente au détail de prêt à porter fémimin et tous accessoires s'y rapporant. Adresse : 32-38 rue Victor Hugo, 64100 Bayonne. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/01/2010. Publication légale : PETITES AFFICHES DU DU PAYS BASQUE du 27/01/2010. Oppositions : Au fonds cédé pour la validité et pour la correspondance au séquestre jurodique de l'ordre des avocats 11 pl Dauphine 75033 PARIS CEDEX 01. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	28/02/2010	Bodacc A	Vente et cession : Vendeur
64 - PYRENEES-ATLANTIQUES GREFFE DU TRIBUNAL DE COMMERCE DE BAYONNE 1206 - 380 622 332 RCS Nanterre. ARMAND THIERRY SA. Forme : Société par actions simplifiée. Sigle : AT-SA. Adresse : 46 rue Raspail, 92593 Levallois-Perret. Origine du fonds : Fonds acquis par achat au prix stipulé de 150000 Euros. Etablissement : Établissement secondaire. Activité : Vente au détail de prêt à porter fémimin et tous accessoires s'y rapporant. Adresse : 32-38 rue Victor Hugo, 64100 Bayonne. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/01/2010. Publication légale : PETITES AFFICHES DU DU PAYS BASQUE du 27/01/2010. Oppositions : Au fonds cédé pour la validité et pour la correspondance au séquestre jurodique de l'ordre des avocats 11 pl Dauphine 75033 PARIS CEDEX 01. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	12/02/2010	Bodacc A	Vente et cession : Vendeur
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 181 - 380 622 332 RCS Marseille. ARMAND THIERY SA. Forme : Société par actions simplifiée. Capital : 25140540 EUR. Adresse : 46 rue de Raspail, 92593 Levallois Perret Cedex. Origine du fonds : Achat d'un fonds de commerce. Etablissement : Etablissement principal. Activité : prêt à porter féminin. Adresse : centre Commercial Marseille Bourse, 17 Cours Belsunce, Local 3. C. 22, 13001 Marseille. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/01/0001. Publication légale : Marseille l'Hebdo du 02/02/2010. Oppositions : Au Mandataire SCP REYNAUD ABEILLE-GEORGES, huissiers de justice, 15 rue du Docteur Combalat, 13006 MARSEILLE pour la validité et pour la correspondance. Descriptif : Fonds acquis par achat au prix stipulé de 580000 Euros. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	08/02/2010	JAL	Activity or goodwill cession
MARSEILLE L'HEBDO Date de décision : 15/01/2010 Fond cédé : 337598866 - ETAM PRET A PORTER, ETAM PRET A PORTER, 17 CRS BELSUNCE, C.C. BOURSE, 13001 MARSEILLE 1 Cédant : 337598866 - ETAM PRET A PORTER, 57 RUE HENRI BARBUSSE, 57 A 59, 92110 CLICHY Cessionnaire : 380622332 - ARMAND THIERY SAS, 46 RUE RASPAIL, 92300 LEVALLOIS PERRET Prix de vente : 580000 €
Hide	30/12/2009	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 2989 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Capital : 13313800 EUR. Commentaires : Modification du capital.
Hide	20/12/2009	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1547 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES en fonction le 05 Novembre 2004 Commissaire aux comptes titulaire : KPMG S. A modification le 20 Décembre 2005 Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004 Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005 Commissaire aux comptes suppléant : AMEYE Francois en fonction le 20 Décembre 2005 Directeur général délégué : CHAPELOT Nadine en fonction le 26 Février 2009 Président : MILCHIOR Laurent en fonction le 09 Décembre 2009. Commentaires : Modification de représentant.
Hide	01/12/2009	Bodacc A	Vente et cession : Vendeur
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 272 - 478 356 116 RCS Bordeaux. UNDIZ. Forme : Société par actions simplifiée. Capital : 2510600 EUR. Adresse : 6 rue Castérès, 92110 Clichy. Origine du fonds : Achat d'un fonds de commerce. Etablissement : Etablissement principal. Activité : vente au détail de prêt-à-porter féminin, lingerie, bonneterie et à titre accessoire articles Chaussants et accessoires. Adresse : centre Commercial Rives d'Arcins, Zac de Bègles Tartifume Lot 72, 33130 Begles. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/01/0001. Publication légale : Le courrier francais du 06/11/2009. Oppositions : Au fonds vendu pour la validité et pour la correspondance. Descriptif : Fonds acquis par achat au prix stipulé de 423231.26 Euros. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	09/10/2009	JAL	Activity or goodwill cession
DOCUMENTS LES ACTUALITES PROFESSIONNELLES Date de décision : 27-07-2009 Fond cédé : 337598866 - ETAM PRET A PORTER, ETAM PRET A PORTER, 27 GR GRANDE RUE, 71100, CHALON SUR SAONE Cédant : 337598866 - ETAM PRET A PORTER, 57 R HENRI BARBUSSE, 57 59 61, 92110, CLICHY Cessionnaire : 380622332 - ARMAND THIERY SAS, 46 R RASPAIL, 92300, LEVALLOIS PERRET
Hide	18/08/2009	Bodacc A	Vente et cession : Vendeur
87 - HAUTE-VIENNE GREFFE DU TRIBUNAL DE COMMERCE DE LIMOGES 624 - 380 622 332 RCS Nanterre. ARMAND THIERY SAS. Forme : Société par actions simplifiée. Sigle : AT SAS. Adresse : 46 rue Raspail, 92593 Levallois-Perret. Origine du fonds : acquis par achat au prix stipulé de 390000 Euros. Etablissement : Etablissement complémentaire. Activité : Retail sale of clothing in specialized stores. Adresse : 39bis avenue Garibaldi - Local 12, Centre Commercial Saint-Martial, 87000 Limoges. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Limoges. Date de commencement de l’activité : 27/07/2009. Publication légale : Le courrier français du 07/08/2009. Oppositions : Scp Eric Debernard 71, boulevard Gambetta Huissiers de Justice 87000 Limoges. Commentaires : Autre achat, apport, attribution.
Hide	25/07/2009	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9264 - 337598866 RCS. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57-59 rue Henri Barbusse 92110 Clichy. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
Hide	27/05/2009	Bodacc A	Vente et cession : Vendeur
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1514 - Réctificatif. Parution avis précédent : BODACC A. Numéro de parution : . Date de parution : 6 mai 2009. Numéro d’annonce : 478. Cet avis est annulé et remplacé par le suivant. 478 356 116 RCS Paris. UNDIZ. Forme : Société par actions simplifiée. Capital : 2510600 EUR. Adresse : 6 rue Castérès, 92110 Clichy. Origine du fonds : Fonds acquis par achat au prix stipulé de 45000,00 euros. Etablissement : Etablissement principal. Activité : Vente d'articles de prêt-à-porter féminin. Adresse : 12 avenue du Général Leclerc, 75014 Paris. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/03/2009. Publication légale : La loi du 23/04/2009. Oppositions : au fonds vendu 12 avenue du Général Leclerc 75014 Paris pour la validité , chez UNDIZ SAS, Direction Juridique 6 rue Castérès 92110 Clichy pour la correspondance . Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	06/05/2009	Bodacc A	Vente et cession : Vendeur
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 478 - 478 356 116 RCS Paris. UNDIZ. Forme : Société par actions simplifiée. Capital : 2510600 EUR. Adresse : 6 rue Castérès, 92110 Clichy. Origine du fonds : Droit au bail acquis par achat au prix stipulé de 45000,00 euros. Etablissement : Etablissement principal. Activité : Cession de droit au bail des locaux. Adresse : 12 avenue du Général Leclerc, 75014 Paris. Précédent propriétaire : ETAM PRET A PORTER. 337 598 866 RCS Nanterre. Date de commencement de l’activité : 01/03/2009. Publication légale : La loi du 23/04/2009. Oppositions : au fonds vendu 12 avenue du Général Leclerc 75014 Paris pour la validité , chez UNDIZ SAS, Direction Juridique 6 rue Castérès 92110 Clichy pour la correspondance . Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	29/03/2009	Bodacc B	Modification et mutation diverse
91 - ESSONNE GREFFE DU TRIBUNAL DE COMMERCE D'EVRY 967 - 337 598 866 RCS Evry. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Commentaires : suite à erreur matérielle il y a lieu de lire que l'adresse de l'etablissement secondaire sis Centre Commercial Les Ulis 2 est 91940 ST JEAN DE BEAUREGARD au lieu de 91940 LES ULIS.
Hide	10/03/2009	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1881 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES en fonction le 05 Novembre 2004. Commissaire aux comptes titulaire : KPMG S. A modification le 20 Décembre 2005. Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004. Président : SIMONIN Richard en fonction le 13 Juillet 2005. Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005. Commissaire aux comptes suppléant : AMEYE Francois en fonction le 20 Décembre 2005. Directeur général délégué : CHAPELOT Nadine en fonction le 26 Février 2009. Commentaires : Modification de représentant.
Hide	21/12/2008	Bodacc A	Vente et cession : Acheteur
03 - ALLIER GREFFE DU TRIBUNAL DE COMMERCE DE MONTLUÇON 8 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Capital : 5846820 EUR. Adresse : 57/59 rue Henri Barbusse, 92110 Clichy. Origine du fonds : Fonds acquis par achat au prix stipulé de 249000 Euros. Etablissement : Établissement principal. Activité : VENTE DE PRET A PORTER FEMININ. Adresse : 1 boulevard de Courtais, 3100 Montluçon. Précédent propriétaire : PRIMEROSE. 341 083 202 RCS Montluçon. Date de commencement de l’activité : 30/10/2008. Publication légale : le bourbonnais rural du 28/11/2008. Oppositions : Me Hubert Lepee - Notaire -98, boulevard de Courtais - BP 1124 - 03100 Montluçon. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	12/06/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 1772 - 337 598 866 RCS Nanterre. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : CONSTANTIN ASSOCIES en fonction le 05 Novembre 2004Commissaire aux comptes titulaire : KPMG S. A modification le 20 Décembre 2005. Directeur général délégué : MILCHIOR Marie Claire en fonction le 29 Décembre 2004. Président : SIMONIN Richard en fonction le 13 Juillet 2005. Commissaire aux comptes suppléant : SCP DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES en fonction le 20 Décembre 2005. Commissaire aux comptes suppléant : AMEYE Francois en fonction le 20 Décembre 2005. Directeur général délégué : GAILLARD Pierre-Olivier en fonction le 02 Juin 2008. Commentaires : Modification de représentant.
Hide	21/03/2008	Bodacc A	Vente et cession : Acheteur
2A - CORSE-DU-SUD GREFFE DU TRIBUNAL DE COMMERCE D'AJACCIO 543 - 337 598 866 RCS Ajaccio. ETAM PRET A PORTER. Forme : Société par actions simplifiée. Adresse : 57 - 59 rue Henri Barbusse, 92110 Clichy. Origine du fonds : Fonds acquis par achat au prix stipulé de 300000 Euros. Etablissement : Établissement complémentaire. Activité : Prêt à porter. Adresse : 13 rue Fesch, 20000 Ajaccio. Précédent propriétaire : VENUSSIA. 400 467 445 RCS Ajaccio. Date de commencement de l’activité : 11/02/2008. Publication légale : L'Informateur Corse du 29/02/2008. Oppositions : Scp J.F. Mativet - F.M. Suzzoni -7, Cours Napoléon BP. - 20177 Ajaccio Cedex 1. Commentaires : Achat d'un fonds par une personne morale (insertion provisoire).
Hide	24/05/2007	Bodacc A	Vente et cession
0004 - RCS Nanterre B 337 598 866. ETAM PRET A PORTER. Forme : S.A.S. Capital : 5 846 820 euros. Adresse du siège social : 57-59 rue Henri-Barbusse, 92110 Clichy. Etablissement principal - Activité : droit au bail de locaux sis Z.A.C. des Baterses, 01700 Beynost . Adresse : Beynost, 01700 Miribel. Droit au bail des locaux sis Z.A.C. des Baterses, 01700 Beynost acquis par achat au prix stipulé de 270 000 euros. Date de début d'activité : 31 août 2007. Précédent propriétaire : SEME. RCS Bourg-en-Bresse 419 896 196. Publication légale : La Voix de l'Ain du 27 avril 2007. Oppositions : Etude de Mes Durieux et Deroo, rue Boisset, 01800 Méximieux.
Hide	15/02/2007	Bodacc A	Vente et cession
0981 - RCS B 491 598 512. RC 07-B 70. VANNES DEVELOPPEMENT. Forme : S.A.R.L. Adresse du siège social : 65 avenue de la République, 44614 Saint-Nazaire. Etablissement secondaire - Activité : vente au détail de prêt-à-porter. Adresse : zone commerciale de Kerlann, 56000 Vannes. Etablissement secondaire acquis par achat au prix stipulé de 504 590 euros. Date de début d'activité : 8 décembre 2006. Précédent propriétaire : ETAM PRET A PORTER. RCS B 337 598 866. Publication légale : Le Télégramme du 8 janvier 2007. Oppositions : S.C.P. Lemale Lalauze et Vèque, 10 passage de Saint-Tropez, 56006 Vannes Cedex.
Hide	14/05/2006	Bodacc A	Vente et cession
1688 - RCS Nanterre B 337 598 866. ETAM PRET A PORTER. Forme : S.A.S. Capital : 5 846 820 euros. Adresse du siège social : 57-59 rue Henri-Barbusse, 92110 Clichy. Etablissement principal - Activité : vente en gros, en demi-gros et au détail de tissu et de prêt-à-porter féminin, d'articles de mode, de cadeaux, de bijoux et de tous objets se rapportant aux produits ci-dessus . Adresse : 25 rue des Cordeliers, 86000 Poitiers. Etablissement principal acquis par achat au prix stipulé de 425 000 euros, à l'exclusion de l'enseigne, des marchandises et d'une partie de la clientèle qui appartiennent déjà au cessionnaire. Date d'effet : 1er février 2006. Précédent propriétaire : S.A.R.L. LACS. RCS Poitiers B 393 457 494. Publication légale : Le Courrier français du 24 février 2006. Oppositions : S.C.P. d'Avocats Ten France, 23 rue Victor-grignard, B.P. 1074, 86061 Poitiers Cedex 09.
Hide	24/03/2006	Bodacc A	Vente et cession
0715 - RCS Nanterre B 337 598 866. ETAM PRET A PORTER. Forme : S.A.S. Adresse du siège social : 57-59 rue Henri-Barbusse, 92110 Clichy. Etablissement principal - Enseigne : Etam Prêt-à-Porter. Activité : vente d'articles textiles. Adresse : 49-57 place d'Armes, 59500 Douai. Etablissement secondaire acquis par achat au prix stipulé de 370 000 euros, à l'exclusion de l'enseigne, de la marchandise et d'une partie de la clientèle. Date de début d'activité : 1er février 2006. Précédent propriétaire : DOUAI PRET A PORTER. RCS Douai 423 414 747. Publication légale : La Gazette Nord-Pas de Calais du 2 mars 2006. Oppositions : au fonds et Etude de Me Deramecourt, 7 rue de Glattignies, 62840 Fleurbaix, pour la correspondance.
Hide	24/02/2006	Bodacc B	Radiation
0233 - RCS Angoulême B 337 598 866. RC 04-B 393. ETAM PRET A PORTER. Forme : S.A.S. Adresse du siège social : 57-59 rue Henri-Barbusse, 92110 Clichy.
Hide	11/01/2006	Bodacc B	Modifications et mutations diverses
1460 - RCS Nanterre B 337 598 866. RC 04-B 6031. ETAM PRET A PORTER. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : modification d'un commissaire aux comptes titulaire : K.P.M.G. S.A. Nomination de commissaires aux comptes suppléants : S.C.P. DE COMMISSAIRES AUX COMPTES JEAN CLAUDE ANDRE ET AUTRES AMEYE (François).
Hide	08/01/2006	Bodacc B	Modifications et mutations diverses
2326 - RCS Nanterre B 337 598 866. RC 04-B 6031. ETAM PRET A PORTER. Forme : S.A.S. Capital : 5 846 820 euros. Commentaires : modification survenue sur le capital (augmentation).
Hide	25/08/2005	Bodacc C	Avis de dépôt des comptes
380 - RCS Nanterre B 337 598 866. RC 04-B 6031. ETAM PRET A PORTER. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 57-59, rue Henri Barbusse,92110 Clichy. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
Hide	29/07/2005	Bodacc B	Modifications et mutations diverses
1699 - RCS Nanterre B 337 598 866. RC 04-B 6031. ETAM PRET A PORTER. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : MILCHIOR (Pierre). Nomination du président : SIMONIN (Richard).
Hide	14/01/2005	Bodacc B	Modifications et mutations diverses
3605 - RCS Nanterre B 337 598 866. RC 04-B 6031. ETAM PRET A PORTER. Forme : S.A.S. Activité : commerce de tous articles de textile et de tous objets, de marchandises ou d'accessoires quelconques, se rapportant à l'habillement de l'homme, de la femme et de l'enfant afin de bénéficier de l'accès au crédit dont disposait ETAM S.A. préalablement à la filialisation de ses activités et actifs dont la société est l'une des bénéficiaires. La société pourra participer à toute opération de centralisation et d'optimisation de trésorerie, de financement avec toute société contrôlée, directement ou indirectement, par ETAM DEVELOPPEMENT et prendre toute participation dans la structure destinée à réaliser ces opérations, étant rappelé que le maintien de ces capacités de financement suppose une solidarité avec les autres bénéficiaires de ces opérations. Agir dans tous domaines d'activités mentionnés ci-dessus, en qualité de mandataire au nom et pour le compte de la STE ETAM, RCS Nanterre 552 015 307, 57-59 rue Henri-Barbusse, 92110 Clichy et ce, du 2 janvier 2005 jusqu'à la date de réalisation définitive de l'apport partiel d'actif de l'activité ETAM PRET-A-PORTER et TAMMY . Commentaires : modification survenue sur l'activité et l'administration. Administration : nomination de directeurs généraux délégués : MILCHIOR (Marie, Claire) (Nom d'usage : TARICA) MILCHIOR (Laurent).
Hide	25/11/2004	Bodacc B	Modifications et mutations diverses
RCS Nanterre B 337598866 RC 04-B 6031 ETAM PRET A PORTER. Forme : S.A.S. Capital : 37 000 euros. Adresse du siège social : 57-59 rue Henri-Barbusse, 92110 Clichy. Commentaires : modification survenue sur la dénomination, la forme juridique, le capital (augmentation), l'adresse du siège social, l'activité, l'adresse de l'établissement principal et l' administration. Administration : gérant partant : DE VULPIAN (François, Régis). Nomination d'un commissaire aux comptes titulaire : CONSTANTIN ASSOCIES. Nomination du président : MILCHIOR ( Pierre). Nomination d'un commissaire aux comptes suppléant : K.P.M.G. S.A Etablissement principal: Activité : commerce de tous articles textiles et de tous objets, de marchandises ou d' accessoires quelconques, se rapportant à l'habillement de l'homme, de la femme et de l'enfant. Adresse : 57-59 rue Henri-Barbusse, 92110 Clichy.
Hide	03/10/2001	Bodacc B	Modifications et mutations diverses
RCS Nanterre D 337598866 RC 01-D 1243 SOCIETE CIVILE IMMOBILIERE NIMELYON. Forme : S.C.I. Capital : 1 525 euros. Activité : acquisition d'un immeuble sis 2 rue du Général-Perrier, Nimes mise en valeur, administration, exploitation et location de cet immeuble. Adresse du siège social : 57-59 et 61 rue Henri- Barbusse, 92110 Clichy. Administration : gérant : DE VULPIAN (François, Régis). Commentaires : cette société transfère son siège des 69-73 boulevard Victor- Hugo, 93585 Saint-Ouen. Ancien RC : 00- D 453. Date d'effet : 15 septembre 2001.
Hide	09/09/2001	Bodacc B	Modifications et mutations diverses
RCS Bobigny D 337598866 RC 00-D 453 SOCIETE CIVILE IMMOBILIERE NIMELYON. Forme : S.C.I. Capital : 1 525 euros. Commentaires : modification survenue sur le capital (augmentation).
Hide	25/06/2000	Bodacc B	Modifications et mutations diverses
RCS Bobigny D 337598866 RC 00-D 453 SOCIETE CIVILE IMMOBILIERE NIMELYON. Forme : S.C.I. Capital : 10 000 F. Activité : acquisition d'un immeuble sis 2 rue du Général-Perrier, 30000 Nimes, mise en valeur, administration, exploitation et location de cet immeuble. Adresse du siège social : 69-73 boulevard Victor- Hugo, 93585 Saint-Ouen. Administration : gérant : DE VULPIAN (François, Régis). Commentaires : cette société transfère son siège du 2 rue du Général-Perrier, 30000 Nimes. Ancien RC : 86-D 91. Date d'effet : 28 avril 2000.
Hide	24/10/1999	Bodacc B	Modifications et mutations diverses
RCS Nimes D 337598866 RC 86-D 91 SOCIETE CIVILE IMMOBILIERE NIMELYON. Forme : S.C.I. Adresse du siège social : 2 rue du Général-Perrier, 30000 Nimes. Commentaires : modification survenue sur l'administration. Administration : gérant DE VULPIAN (François, Régis) ( Nom d' usage : DE VULPIAN). Date d'effet : 25 juin 1999.

Company events history

Date	Description
03/02/2015	Minutes of general meeting of shareholders
03/02/2015	Declaration of conformity
03/02/2015	Updated articles of association
03/02/2015	Partial contribution
07/01/2015	Bodacc B: Various editing or changing
26/12/2014	Partial contribution
26/12/2014	Minutes of general meeting of shareholders
26/12/2014	Declaration of conformity
26/12/2014	Capital increase
26/12/2014	Updated articles of association
02/12/2014	Bodacc C : Deposit accounts notice
28/11/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/11/2014	Bodacc B: Various editing or changing
13/11/2014	Audit or Management Report
07/11/2014	Amendment
07/11/2014	New auditor
21/10/2014	Partial contribution
01/08/2014	New participations in other companies
19/06/2014	Bodacc B: Various editing or changing
10/06/2014	Capital increase
10/06/2014	Minutes of general meeting of shareholders
10/06/2014	Partial contribution
10/06/2014	Updated articles of association
10/06/2014	Declaration of conformity
02/05/2014	Legal Gazette: Modification of the share capital
22/04/2014	Partial contribution
22/04/2014	Audit or Management Report
01/04/2014	Partial contribution
31/12/2013	New accounts available
01/12/2013	Bodacc B: Various editing or changing
22/11/2013	Changes to the Board of Directors
22/11/2013	Amendment
15/07/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
08/07/2013	Bodacc C : Deposit accounts notice
26/06/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
14/06/2013	Bodacc A : Sale and transfer
15/05/2013	Bodacc A : Sale and transfer
13/05/2013	Bodacc C : Deposit accounts notice
10/05/2013	Legal Gazette: Appointment of the social representative
30/04/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
05/04/2013	Legal Gazette: Activity or goodwill cession: Seller
31/12/2012	New accounts available
04/12/2012	Bodacc B: Various editing or changing
26/11/2012	Changes to the Board of Directors
26/11/2012	Amendment
23/11/2012	Legal Gazette: Resignation / Revocation of the social representative
07/11/2012	Amendment
07/11/2012	Partial contribution
22/08/2012	Bodacc A : Sale and transfer
31/07/2012	Partial contribution
24/07/2012	Legal Gazette: Activity or goodwill cession
05/06/2012	Bodacc A : Sale and transfer
17/04/2012	Legal Gazette: Activity or goodwill cession
31/12/2011	New accounts available
15/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
16/08/2011	Formation of Establishment
29/07/2011	Formation of Establishment
31/12/2010	New accounts available
28/06/2010	Bodacc C : Deposit accounts notice
25/06/2010	Bodacc B: Various editing or changing
16/06/2010	Amendment
16/06/2010	Updated articles of association
16/06/2010	Capital reduction
11/05/2010	Legal Gazette: Modification of the share capital
11/05/2010	Legal Gazette: Continuation of activity
11/05/2010	Other modification of Establishment
15/04/2010	Bodacc A : Sale and transfer
28/02/2010	Bodacc A : Sale and transfer
12/02/2010	Bodacc A : Sale and transfer
08/02/2010	Legal Gazette: Activity or goodwill cession
31/12/2009	New accounts available
30/12/2009	Bodacc B: Various editing or changing
20/12/2009	Bodacc B: Various editing or changing
16/12/2009	Updated articles of association
16/12/2009	Fund deposit certificate
16/12/2009	Capital increase
16/12/2009	Amendment
09/12/2009	Amendment
09/12/2009	New chairman (CEO, CoB)
01/12/2009	Bodacc A : Sale and transfer
30/11/2009	Other modification of Establishment
09/10/2009	Legal Gazette: Activity or goodwill cession
18/09/2009	Update of Company Workforce
18/09/2009	Other modification of Establishment
15/09/2009	Other modification of Establishment
18/08/2009	Bodacc A : Sale and transfer
25/07/2009	Bodacc C : Deposit accounts notice
21/07/2009	Payment incident closed
06/07/2009	Updated articles of association
06/07/2009	Updated articles of association
06/07/2009	Private document
06/07/2009	Minutes of general meeting of shareholders
06/07/2009	Amendment
28/05/2009	Modification to Establishment Address or Identifier
28/05/2009	Update of Company Workforce
27/05/2009	Bodacc A : Sale and transfer
06/05/2009	Bodacc A : Sale and transfer
30/04/2009	Payment incident closed
29/03/2009	Bodacc B: Various editing or changing
10/03/2009	Bodacc B: Various editing or changing
10/03/2009	New Bodacc B ads detected
26/02/2009	Minutes of general meeting of shareholders
26/02/2009	Changes to the Board of Directors
26/02/2009	Appointment/resignation of company officers
26/02/2009	Appointment/resignation of company officers
26/02/2009	Private document
26/02/2009	Amendment
25/02/2009	Payment incident detected
31/12/2008	New accounts available
21/12/2008	New Bodacc A ads detected
21/12/2008	Bodacc A : Sale and transfer
06/11/2008	Collection of preferential rights activated for this company
07/10/2008	Payment incident detected
10/09/2008	Formation of Establishment
20/08/2008	Formation of Establishment
12/06/2008	Bodacc B: Various editing or changing
12/06/2008	New Bodacc B ads detected
02/06/2008	Amendment
02/06/2008	Appointment/resignation of company officers
02/06/2008	Minutes of general meeting of shareholders
02/06/2008	Private document
02/06/2008	Appointment/resignation of company officers
21/03/2008	Bodacc A : Sale and transfer
21/03/2008	New Bodacc A ads detected
20/09/2007	Other modification of Establishment
20/09/2007	Formation of Establishment
20/12/2005	Appointment/resignation of company officers
20/12/2005	Minutes of general meeting of shareholders
20/12/2005	Private document
20/12/2005	New auditor
15/12/2005	Minutes of general meeting of shareholders
15/12/2005	Partial contribution
15/12/2005	Private document
15/12/2005	Declaration of conformity
15/12/2005	Capital increase
15/12/2005	Updated articles of association
13/07/2005	Appointment/resignation of company officers
13/07/2005	Minutes of general meeting of shareholders
13/07/2005	New chairman (CEO, CoB)
13/07/2005	Private document
21/06/2005	Audit or Management Report
21/06/2005	Private document
30/05/2005	Partial contribution
30/05/2005	Planned merger
30/05/2005	Private document
31/12/2004	New accounts available
29/12/2004	Amendment
29/12/2004	Appointment/resignation of company officers
29/12/2004	Change to corporate purpose
29/12/2004	Changes to the Board of Directors
29/12/2004	Minutes of general meeting of shareholders
29/12/2004	Private document
29/12/2004	Updated articles of association
05/11/2004	Audit or Management Report
05/11/2004	Capital increase
05/11/2004	Minutes of general meeting of shareholders
05/11/2004	New company name
05/11/2004	New legal form – new category
05/11/2004	Private document
05/11/2004	Updated articles of association
05/11/2004	Appointment/resignation of company officers
20/09/2001	Private document
20/09/2001	Updated articles of association
20/09/2001	Registered office transferred outside jurisdiction of the Commercial Court
20/09/2001	Minutes of general meeting of shareholders
20/09/2001	Registration after transfer
24/08/2001	Conversion of equity to euro
24/08/2001	Private document
24/08/2001	Updated articles of association
24/08/2001	Minutes of general meeting of shareholders
09/06/2000	Registration after transfer
09/06/2000	Registered office transferred outside jurisdiction of the Commercial Court
09/06/2000	Private document
09/06/2000	Minutes of general meeting of shareholders
09/06/2000	Updated articles of association
01/10/1999	Appointment/resignation of company officers
01/10/1999	Private document
01/10/1999	New manager

Synthesized Accounts

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	27/11/2014	25/06/2013	29/04/2013
Activity Code	4771Z	4771Z	4771Z
Employees	901	1052	0

Active account

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Capital not called	0 0 K	0%	0 0 K	0%	0 0 K	104.30 0.10 K	0%	0 0 K	0%
Total fixed assets	42,433,868 42,434 K	-15.2 %	50,044,361 50,044 K	-23.9 %	65,766,184 65,766 K	526,116.10 526.12 K	7965.5 %	76,929 77 K	55059.8 %
Intangible assets	24,914,577 24,915 K	-15.1 %	29,346,409 29,346 K	0.8 %	29,110,334 29,110 K	277,848.40 277.85 K	8867.0 %	41,161 41 K	60429.6 %
Tangible assets	10,365,502 10,366 K	-31.1 %	15,045,160 15,045 K	-49.7 %	29,903,463 29,903 K	180,997.38 181.00 K	5626.9 %	10,622 11 K	97485.2 %
Financial assets	7,153,789 7,154 K	-27.9 %	9,919,116 9,919 K	2.3 %	9,692,325 9,692 K	71,878.84 71.88 K	9852.6 %	1,770 2 K	404068.9 %
Net current assets	67,512,527 67,513 K	3.3 %	65,362,949 65,363 K	35.5 %	48,237,470 48,237 K	533,211.24 533.21 K	12561.5 %	91,640 92 K	73571.5 %
Stocks	25,438,131 25,438 K	10.6 %	23,006,952 23,007 K	-0.3 %	23,081,823 23,082 K	253,863.55 253.86 K	9920.4 %	40,252 40 K	63097.2 %
Advanced payments	416,398 416 K	-54.5 %	914,158 914 K	69.8 %	538,244 538 K	2,686.29 2.69 K	15400.9 %	0 0 K	0%
Receivables	39,401,116 39,401 K	1.4 %	38,871,158 38,871 K	74.2 %	22,308,283 22,308 K	158,378.92 158.38 K	24777.8 %	8,523 9 K	462191.6 %
Securities and cash	2,256,882 2,257 K	-12.2 %	2,570,681 2,571 K	11.3 %	2,309,120 2,309 K	117,589.67 117.59 K	1819.3 %	14,051 14 K	15962.1 %
Prepaid expenses	- -	-	- -	-	- -	1,821.02 1.82 K	-	355 0 K	-
Accounts of regularization	6,761 7 K	-63.0 %	18,261 18 K	107.6 %	8,796 9 K	529.99 0.53 K	1175.7 %	0 0 K	0%
Total Assets	109,953,155 109,953 K	-4.7 %	115,425,573 115,426 K	1.2 %	114,012,451 114,012 K	1,059,713.89 1,059.71 K	10275.7 %	191,087 191 K	57440.9 %

PASSIVE ACCOUNT

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Shareholders' equity	14,139,809 14,140 K	-11.2 %	15,917,338 15,917 K	140.3 %	-39,456,226 -39,456 K	359,108.58 359.11 K	3837.5 %	41,615 42 K	33877.7 %
Share capital	5,846,820 5,847 K	0%	5,846,820 5,847 K	0%	5,846,820 5,847 K	146,347.62 146.35 K	3895.2 %	8,000 8 K	72985.3 %
Other capital resources	0 0 K	0%	0 0 K	0%	0 0 K	399.17 0.40 K	0%	0 0 K	0%
Risk Provisions	2,812,853 2,813 K	-22.6 %	3,635,156 3,635 K	181.4 %	1,292,006 1,292 K	12,981.54 12.98 K	21568.1 %	0 0 K	0%
Liabilities	93,000,493 93,000 K	-3.0 %	95,873,079 95,873 K	-37.0 %	152,146,867 152,147 K	679,980.44 679.98 K	13576.9 %	125,210 125 K	74175.6 %
Financial liabilities	43,110,257 43,110 K	5.0 %	41,045,700 41,046 K	-60.6 %	104,287,138 104,287 K	298,334.71 298.33 K	14350.3 %	41,065 41 K	104880.5 %
Advanced payments received	1,491,089 1,491 K	-3.3 %	1,541,360 1,541 K	-3.8 %	1,602,256 1,602 K	3,566.59 3.57 K	41707.1 %	0 0 K	0%
Trade account payables	33,936,784 33,937 K	-13.9 %	39,408,762 39,409 K	22.4 %	32,189,835 32,190 K	215,541.12 215.54 K	15644.9 %	24,175 24 K	140279.7 %
Tax and social liabilities	9,910,296 9,910 K	-4.6 %	10,384,282 10,384 K	-9.8 %	11,513,008 11,513 K	141,553.17 141.55 K	6901.1 %	20,021 20 K	49399.5 %
Other debts and fixed assets liabilities	4,552,068 4,552 K	30.3 %	3,492,975 3,493 K	35.2 %	2,584,430 2,584 K	72,350.68 72.35 K	6191.7 %	5,180 5 K	87777.8 %
Account regularization	0 0 K	0%	0 0 K	0%	0 0 K	4,280.33 4.28 K	0%	0 0 K	0%
Total liabilities	109,953,155 109,953 K	-4.7 %	115,425,572 115,426 K	1.2 %	114,012,451 114,012 K	1,052,604.45 1,052.60 K	10345.8 %	191,090 191 K	57440.0 %

Results

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Sales of Goods	210,489,826 210,490 K	-4.8 %	221,158,040 221,158 K	-4.4 %	231,333,755 231,334 K	1,545,410.20 1,545.41 K	13520.3 %	236,042 236 K	89074.7 %
Net turnover	204,963,361 204,963 K	-4.0 %	213,531,044 213,531 K	-4.5 %	223,595,746 223,596 K	1,508,518.38 1,508.52 K	13487.1 %	231,873 232 K	88294.7 %
of which net export turnover	11,631,319 11,631 K	-16.6 %	13,950,432 13,950 K	0%	0 0 K	74,428.77 74.43 K	15527.5 %	0 0 K	0%
Operating charges	228,996,979 228,997 K	-7.2 %	246,725,400 246,725 K	-5.0 %	259,738,018 259,738 K	1,504,992.22 1,504.99 K	15115.8 %	232,259 232 K	98495.5 %
Operating profit/loss	-18,507,152 -18,507 K	27.6 %	-25,567,360 -25,567 K	10.0 %	-28,404,263 -28,404 K	40,422.79 40.42 K	-45884.0 %	4,487 4 K	-412561.6 %
Financial income	1,964,294 1,964 K	7.5 %	1,827,380 1,827 K	-8.7 %	2,001,063 2,001 K	8,680.05 8.68 K	22530.0 %	0 0 K	0%
Financial charges	1,615,688 1,616 K	-53.9 %	3,503,918 3,504 K	-2.4 %	3,591,789 3,592 K	13,672.05 13.67 K	11717.5 %	1,296 1 K	124567.3 %
Financial profit/loss	348,606 349 K	120.8 %	-1,676,538 -1,677 K	-5.4 %	-1,590,726 -1,591 K	-4,992.00 -4.99 K	7083.3 %	-914 -1 K	38240.7 %
Pretax net operating income	-18,158,546 -18,159 K	33.3 %	-27,243,898 -27,244 K	9.2 %	-29,994,989 -29,995 K	35,492.41 35.49 K	-51261.8 %	2,875 3 K	-631701.6 %
Extraordinary income	31,573,354 31,573 K	76.1 %	17,928,105 17,928 K	76.9 %	10,132,942 10,133 K	29,742.59 29.74 K	106055.4 %	0 0 K	0%
Extraordinary charges	15,516,311 15,516 K	-4.2 %	16,200,648 16,201 K	159.7 %	6,238,702 6,239 K	30,386.11 30.39 K	50963.8 %	63 0 K	24628965.1 %
Extraordinary profit/loss	16,057,043 16,057 K	829.5 %	1,727,457 1,727 K	-55.6 %	3,894,240 3,894 K	-643.32 -0.64 K	2496065.1 %	0 0 K	0%
Net result	-1,117,678 -1,118 K	95.7 %	-26,015,723 -26,016 K	-0.5 %	-25,886,572 -25,887 K	14,518.31 14.52 K	-7798.4 %	2,994 3 K	-37430.6 %

Accounts – Active

Normal Account

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

Grand Total - Active Accounts (I to VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Grand Total (I to VI)	Net	109,953,155 109,953 K	-4.7 %	115,425,573 115,426 K	1.2 %	114,012,451 114,012 K
Gross	CO	181,626,751 181,627 K	-12.6 %	207,850,979 207,851 K	7.3 %	193,665,783 193,666 K
Amortisation	1A	71,673,596 71,674 K	-22.5 %	92,425,406 92,425 K	16.0 %	79,653,332 79,653 K

Non declared distributed capital (I)

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

Active fixed asset (II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Active fixed asset (II)	Net	42,433,868 42,434 K	-15.2 %	50,044,361 50,044 K	-23.9 %	65,766,184 65,766 K
Gross	BJ	109,273,430 109,273 K	-20.2 %	136,964,973 136,965 K	-1.8 %	139,481,795 139,482 K
Amortisation	BK	66,839,562 66,840 K	-23.1 %	86,920,612 86,921 K	17.9 %	73,715,611 73,716 K

Intangible fixed assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Start-up cost	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AC	0 0 K	0%	0 0 K	0%	0 0 K
R&D expenses	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CX	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AE	0 0 K	0%	0 0 K	0%	0 0 K
Distributorships, patents	Net	7,944 8 K	-91.8 %	97,271 97 K	44932.9 %	216 0 K
Gross	AF	898,713 899 K	-6.3 %	958,774 959 K	24.5 %	770,247 770 K
Amortisation	AG	890,768 891 K	3.4 %	861,503 862 K	11.9 %	770,031 770 K
Goodwill	Net	24,906,633 24,907 K	-14.8 %	29,249,138 29,249 K	0.5 %	29,110,118 29,110 K
Gross	AH	28,404,019 28,404 K	-2.9 %	29,249,138 29,249 K	0.5 %	29,110,118 29,110 K
Amortisation	AI	3,497,386 3,497 K	-18.0 %	4,266,324 4,266 K	45.1 %	2,939,938 2,940 K
Other intangible fixed assets	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AJ	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AK	0 0 K	0%	0 0 K	0%	0 0 K
Pre-payments and downpayments	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AL	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AM	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Intangible asset	Net	24,914,577 24,915 K	-15.1 %	29,346,409 29,346 K	0.8 %	29,110,334 29,110 K

Tangilble fixed assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Lands	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AN	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AO	0 0 K	0%	0 0 K	0%	0 0 K
Buildings	Net	7,580,470 7,580 K	-39.0 %	12,416,868 12,417 K	-4.5 %	12,999,802 13,000 K
Gross	AP	16,261,075 16,261 K	-45.7 %	29,954,605 29,955 K	-2.2 %	30,640,142 30,640 K
Amortisation	AQ	8,680,605 8,681 K	-50.5 %	17,537,737 17,538 K	-0.6 %	17,640,340 17,640 K
Plant	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AR	17,049 17 K	-89.4 %	160,478 160 K	0.0 %	160,477 160 K
Amortisation	AS	17,049 17 K	-89.4 %	160,478 160 K	0.0 %	160,477 160 K
Other tangible fixed assets	Net	2,610,309 2,610 K	3.7 %	2,516,922 2,517 K	-85.0 %	16,791,401 16,791 K
Gross	AT	56,277,831 56,278 K	-15.4 %	66,525,259 66,525 K	-3.5 %	68,909,994 68,910 K
Amortisation	AU	53,667,522 53,668 K	-16.2 %	64,008,337 64,008 K	22.8 %	52,118,593 52,119 K
Fixed assets in construction	Net	174,723 175 K	56.9 %	111,370 111 K	6.8 %	104,279 104 K
Gross	AV	174,723 175 K	56.9 %	111,370 111 K	6.8 %	104,279 104 K
Amortisation	AW	0 0 K	0%	0 0 K	0%	0 0 K
Advances and payments on account	Net	0 0 K	0%	0 0 K	0%	7,981 8 K
Gross	AX	0 0 K	0%	0 0 K	0%	7,981 8 K
Amortisation	AY	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Tangible asset	Net	10,365,502 10,366 K	-31.1 %	15,045,160 15,045 K	-49.7 %	29,903,463 29,903 K

Financial assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Associates at equity	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CS	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CT	0 0 K	0%	0 0 K	0%	0 0 K
Other participations	Net	818,200 818 K	0%	818,200 818 K	4.6 %	782,100 782 K
Gross	CU	818,200 818 K	0%	818,200 818 K	4.6 %	782,100 782 K
Amortisation	CV	0 0 K	0%	0 0 K	0%	0 0 K
Inter-company receivables	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BC	0 0 K	0%	0 0 K	0%	0 0 K
Other investment securities	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BD	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BE	0 0 K	0%	0 0 K	0%	0 0 K
Loans	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BF	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BG	0 0 K	0%	0 0 K	0%	0 0 K
Other financial assets	Net	6,335,589 6,336 K	-30.4 %	9,100,916 9,101 K	2.1 %	8,910,225 8,910 K
Gross	BH	6,421,821 6,422 K	-30.1 %	9,187,149 9,187 K	2.1 %	8,996,457 8,996 K
Amortisation	BI	86,233 86 K	0%	86,233 86 K	0.0 %	86,232 86 K
Sub Total Financial assets	Net	7,153,789 7,154 K	-27.9 %	9,919,116 9,919 K	2.3 %	9,692,325 9,692 K

Current Assets (III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Assets	Net	67,512,527 67,513 K	3.3 %	65,362,949 65,363 K	35.5 %	48,237,470 48,237 K
Gross	CJ	72,346,560 72,347 K	2.1 %	70,867,745 70,868 K	30.8 %	54,175,187 54,175 K
Amortisation	CK	4,834,033 4,834 K	-12.2 %	5,504,796 5,505 K	-7.3 %	5,937,717 5,938 K

Stocks

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Raw materials	Net	255,818 256 K	-14.2 %	298,245 298 K	-43.6 %	528,580 529 K
Gross	BL	356,376 356 K	-64.1 %	993,607 994 K	-31.1 %	1,442,010 1,442 K
Amortisation	BM	100,558 101 K	-85.5 %	695,362 695 K	-23.9 %	913,430 913 K
Work in progress (goods)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BN	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BO	0 0 K	0%	0 0 K	0%	0 0 K
Work in progress (services)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BP	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BQ	0 0 K	0%	0 0 K	0%	0 0 K
Semi-finished and finished products	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BR	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BS	0 0 K	0%	0 0 K	0%	0 0 K
Goods for resale	Net	25,182,313 25,182 K	10.9 %	22,708,707 22,709 K	0.7 %	22,553,243 22,553 K
Gross	BT	29,700,899 29,701 K	9.1 %	27,233,768 27,234 K	0.1 %	27,213,210 27,213 K
Amortisation	BU	4,518,586 4,519 K	-0.1 %	4,525,061 4,525 K	-2.9 %	4,659,967 4,660 K
Sub Total Stocks	Net	25,438,131 25,438 K	10.6 %	23,006,952 23,007 K	-0.3 %	23,081,823 23,082 K

Advance payments to suppliers

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Advance payments to suppliers	Net	416,398 416 K	-54.5 %	914,158 914 K	69.8 %	538,244 538 K
Gross	BV	416,398 416 K	-54.5 %	914,158 914 K	69.8 %	538,244 538 K
Amortisation	BW	0 0 K	0%	0 0 K	0%	0 0 K

Debtors

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Trade accounts receivable	Net	7,050,896 7,051 K	-65.1 %	20,184,437 20,184 K	204.6 %	6,627,280 6,627 K
Gross	BX	7,220,499 7,220 K	-64.6 %	20,411,781 20,412 K	196.7 %	6,878,757 6,879 K
Amortisation	BY	169,603 170 K	-25.4 %	227,344 227 K	-9.6 %	251,477 251 K
Other debtors	Net	27,986,696 27,987 K	111.4 %	13,238,663 13,239 K	38.5 %	9,560,763 9,561 K
Gross	BZ	28,024,783 28,025 K	111.0 %	13,279,692 13,280 K	38.1 %	9,614,106 9,614 K
Amortisation	CA	38,087 38 K	-7.2 %	41,029 41 K	-23.1 %	53,343 53 K
Capital subscribed and called up	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CC	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total debtors	Net	35,037,592 35,038 K	4.8 %	33,423,100 33,423 K	106.5 %	16,188,043 16,188 K

Divers

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Investment securities	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CD	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CE	0 0 K	0%	0 0 K	0%	0 0 K
Cash and cash equivalents	Net	2,256,882 2,257 K	-12.2 %	2,570,681 2,571 K	11.3 %	2,309,120 2,309 K
Gross	CF	2,264,082 2,264 K	-12.5 %	2,586,681 2,587 K	9.2 %	2,368,620 2,369 K
Amortisation	CG	7,200 7 K	-55.0 %	16,000 16 K	-73.1 %	59,500 60 K
Sub Total Divers	Net	2,256,882 2,257 K	-12.2 %	2,570,681 2,571 K	11.3 %	2,309,120 2,309 K

Prepaid expenses

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Prepaid expenses	Net	4,363,524 4,364 K	-19.9 %	5,448,058 5,448 K	-11.0 %	6,120,240 6,120 K
Gross	CH	4,363,524 4,364 K	-19.9 %	5,448,058 5,448 K	-11.0 %	6,120,240 6,120 K
Amortisation	CI	0 0 K	0%	0 0 K	0%	0 0 K

Equalization accounts (IV to VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Multi-period charges	CW3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Premiums on redemption of bonds	CM3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Currency differential gain	CN3	6,761 7 K	-63.0 %	18,261 18 K	107.6 %	8,796 9 K
Gross		6,761 7 K	-63.0 %	18,261 18 K	107.6 %	8,796 9 K

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Due within one year	CP	0 0 K	0%	0 0 K	0%	0 0 K
Due after one year	CR	0 0 K	0%	0 0 K	0%	0 0 K

Accounts - Passive

Grand Total - Passive Accounts (I to V)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Grand Total (I to V)	EE	109,953,155 109,953 K	-4.7 %	115,425,572 115,426 K	1.2 %	114,012,451 114,012 K

Shareholder Equity (I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total shareholders' equity (Total I)	DL	14,139,809 14,140 K	-11.2 %	15,917,338 15,917 K	140.3 %	-39,456,226 -39,456 K
Equity and shareholders' equity	DA	5,846,820 5,847 K	0%	5,846,820 5,847 K	0%	5,846,820 5,847 K
Issue and merger premiums	DB	5,272,161 5,272 K	0%	5,272,161 5,272 K	0.0 %	5,272,160 5,272 K
Revaluation differentials	DC	0 0 K	0%	0 0 K	0%	0 0 K
Of which equity differential	EK	0 0 K	0%	0 0 K	0%	0 0 K
Legal reserve	DD	354,327 354 K	0%	354,327 354 K	0.0 %	354,326 354 K
Statutory or contractual reserve	DE	0 0 K	0%	0 0 K	0%	0 0 K
Special regulated reserves	DF	0 0 K	0%	0 0 K	0%	0 0 K
Of which special reserve of provisions for current fluctuation	B1	0 0 K	0%	0 0 K	0%	0 0 K
Other reserves	DG	0 0 K	0%	0 0 K	0%	0 0 K
Of which reserve for buying originals works from alive artists	EJ	0 0 K	0%	0 0 K	0%	0 0 K
Profits or losses brought forward	DH	-5,749,200 -5,749 K	-128.4 %	20,266,523 20,267 K	156.5 %	-35,846,904 -35,847 K
Profit or loss for the period	DI	-1,117,678 -1,118 K	95.7 %	-26,015,723 -26,016 K	-0.5 %	-25,886,572 -25,887 K
Investment grants	DJ	0 0 K	0%	0 0 K	0%	0 0 K
Special tax-allowable reserves	DK	9,533,380 9,533 K	-6.5 %	10,193,230 10,193 K	-5.7 %	10,803,944 10,804 K

Other capital resources (II)

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

Provisions for risks and charges (III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total provisions for risks and charges (Total III)	DR	2,812,853 2,813 K	-22.6 %	3,635,156 3,635 K	181.4 %	1,292,006 1,292 K
Risk provisions	DP	2,200,845 2,201 K	-28.6 %	3,081,011 3,081 K	167.6 %	1,151,317 1,151 K
Reserves for charges	DQ	612,008 612 K	10.4 %	554,145 554 K	293.9 %	140,689 141 K

Liabilities (IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Liabilities (Total IV)	EC	93,000,493 93,000 K	-3.0 %	95,873,079 95,873 K	-37.0 %	152,146,867 152,147 K
Convertible debentures	DS	0 0 K	0%	0 0 K	0%	0 0 K
Other debentures	DT	0 0 K	0%	0 0 K	0%	0 0 K
Bank loans and liabilities	DU	879,875 880 K	760.1 %	102,300 102 K	30.5 %	78,392 78 K
Sundry loans and financial liabilities	DV	42,230,382 42,230 K	3.1 %	40,943,400 40,943 K	-60.7 %	104,208,746 104,209 K
Of which participating loans	EI	0 0 K	0%	0 0 K	0%	0 0 K
Advance payments received for current orders	DW	1,491,089 1,491 K	-3.3 %	1,541,360 1,541 K	-3.8 %	1,602,256 1,602 K
Trade accounts payables	DX	33,936,784 33,937 K	-13.9 %	39,408,762 39,409 K	22.4 %	32,189,835 32,190 K
Tax and social security liabilities	DY	9,910,296 9,910 K	-4.6 %	10,384,282 10,384 K	-9.8 %	11,513,008 11,513 K
Fixed asset liabilities	DZ	1,233,626 1,234 K	157.8 %	478,455 478 K	494.4 %	80,495 80 K
Other debts	EA	3,318,442 3,318 K	10.1 %	3,014,520 3,015 K	21.8 %	2,474,135 2,474 K

Translation loss (V)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Translation loss (Total V)	ED	0 0 K	0%	0 0 K	0%	29,800 30 K

Equalization accounts

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Deferred income	EB	0 0 K	0%	0 0 K	0%	0 0 K

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which tax-allowable reserve	EF	0 0 K	0%	0 0 K	0%	0 0 K
Deferred income and liabilities	EG	0 0 K	0%	0 0 K	0%	0 0 K
Of which current bank facilities	EH	0 0 K	0%	0 0 K	0%	0 0 K

Result account

1 - Operating result (I-II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating result (Total I-II)	GG	-18,507,152 -18,507 K	27.6 %	-25,567,360 -25,567 K	10.0 %	-28,404,263 -28,404 K

2 - Financial result (V-VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Financial result (Total V-VI)	GV	348,606 349 K	120.8 %	-1,676,538 -1,677 K	-5.4 %	-1,590,726 -1,591 K

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-18,158,546 -18,159 K	33.3 %	-27,243,898 -27,244 K	9.2 %	-29,994,989 -29,995 K

4 - Extraordinary result (VII-VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Extraordinary result (Total VII-VIII)	HI	16,057,043 16,057 K	829.5 %	1,727,457 1,727 K	-55.6 %	3,894,240 3,894 K

Profit or loss

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Profit or loss	HN	-1,117,678 -1,118 K	95.7 %	-26,015,723 -26,016 K	-0.5 %	-25,886,572 -25,887 K

Total Income (I+III+V+VII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Income (Total I+III+V+VII)	HL	244,027,474 244,027 K	1.3 %	240,913,525 240,914 K	-1.0 %	243,467,760 243,468 K

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Charges (Total II+IV+VI+VIII+IX+X)	HM	245,145,153 245,145 K	-8.2 %	266,929,248 266,929 K	-0.9 %	269,354,328 269,354 K

Operating income (I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total operating income (Total I)	FR	210,489,826 210,490 K	-4.8 %	221,158,040 221,158 K	-4.4 %	231,333,755 231,334 K

Operating income (details)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Sale of goods for resale	FC	201,870,417 201,870 K	-3.5 %	209,089,996 209,090 K	-4.5 %	218,962,779 218,963 K
France	FA	190,629,290 190,629 K	-2.6 %	195,751,483 195,751 K	-10.6 %	218,962,779 218,963 K
Export	FB	11,241,127 11,241 K	-15.7 %	13,338,513 13,339 K	0%	0 0 K
Sale of goods produced	FF	0 0 K	0%	0 0 K	0%	0 0 K
France	FD	0 0 K	0%	0 0 K	0%	0 0 K
Export	FE	0 0 K	0%	0 0 K	0%	0 0 K
Sale of services	FI	3,092,944 3,093 K	-30.4 %	4,441,048 4,441 K	-4.1 %	4,632,967 4,633 K
France	FG	2,702,751 2,703 K	-29.4 %	3,829,129 3,829 K	-17.4 %	4,632,967 4,633 K
Export	FH	390,193 390 K	-36.2 %	611,919 612 K	0%	0 0 K
Net turnover	FL	204,963,361 204,963 K	-4.0 %	213,531,044 213,531 K	-4.5 %	223,595,746 223,596 K
France	FJ	193,332,042 193,332 K	-3.1 %	199,580,612 199,581 K	-10.7 %	223,595,746 223,596 K
Export	FK	11,631,319 11,631 K	-16.6 %	13,950,432 13,950 K	0%	0 0 K
Stocked production	FM	0 0 K	0%	0 0 K	0%	0 0 K
Self-constructed assets	FN	0 0 K	0%	0 0 K	0%	0 0 K
Operating grants	FO	0 0 K	0%	0 0 K	0%	0 0 K
Release of reserves and provisions	FP	5,403,477 5,403 K	-6.3 %	5,764,119 5,764 K	-23.2 %	7,508,321 7,508 K
Other income	FQ	122,988 123 K	-93.4 %	1,862,877 1,863 K	711.0 %	229,688 230 K

Operating charges (II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total operating charges (Total II)	GF	228,996,979 228,997 K	-7.2 %	246,725,400 246,725 K	-5.0 %	259,738,018 259,738 K

Exploitation charges

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Purchase of goods for resale	FS	88,275,479 88,275 K	4.2 %	84,721,484 84,721 K	-5.9 %	90,045,904 90,046 K
Change in stocks of goods for resale	FT	-2,495,939 -2,496 K	-12041.6 %	-20,557 -21 K	-100.5 %	4,352,968 4,353 K
Purchase of raw materials	FU	3,634,023 3,634 K	-24.4 %	4,809,111 4,809 K	-4.3 %	5,027,079 5,027 K
Change in stocks of raw materials	FV	637,231 637 K	42.1 %	448,404 448 K	-19.5 %	556,744 557 K
Other external purchases and charges	FW	85,624,609 85,625 K	-12.7 %	98,107,385 98,107 K	-0.4 %	98,459,143 98,459 K
Tax, duty and similar payments	FX	3,383,819 3,384 K	-7.4 %	3,652,485 3,652 K	-6.5 %	3,904,432 3,904 K
Payroll	FY	24,551,017 24,551 K	-8.2 %	26,739,541 26,740 K	-3.6 %	27,735,444 27,735 K
Social security costs	FZ	9,495,102 9,495 K	-7.0 %	10,208,916 10,209 K	-2.0 %	10,416,274 10,416 K

Depreciation

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Depreciation of fixed assets	GA	5,578,292 5,578 K	-22.4 %	7,190,776 7,191 K	3.6 %	6,942,480 6,942 K
Amortisation of fixed assets	GB	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation/amortisation of current assets	GC	4,644,144 4,644 K	-11.2 %	5,231,126 5,231 K	-7.3 %	5,643,515 5,644 K
Provisions for risks and charges	GD	212,111 212 K	67.3 %	126,800 127 K	58.5 %	80,010 80 K

Other charges

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Other charges	GE	5,457,091 5,457 K	-1.0 %	5,509,929 5,510 K	-16.2 %	6,574,025 6,574 K

Operating charges (III-IV)

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

Financial income (V)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total financial income (Total V)	GP	1,964,294 1,964 K	7.5 %	1,827,380 1,827 K	-8.7 %	2,001,063 2,001 K
Share financial income	GJ	0 0 K	0%	0 0 K	0%	0 0 K
Other investment income & capitalised receivables	GK	0 0 K	0%	0 0 K	0%	0 0 K
Other interest and similar income	GL	1,915,659 1,916 K	9.9 %	1,743,696 1,744 K	-10.7 %	1,952,231 1,952 K
Released provisions and transferred charges	GM	18,261 18 K	107.6 %	8,797 9 K	0%	0 0 K
Exchange gains	GN	30,374 30 K	-59.4 %	74,887 75 K	53.4 %	48,832 49 K
Net income from disposal of investment securities	GO	0 0 K	0%	0 0 K	0%	0 0 K

Financial charge (VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total financial charge (Total VI)	GU	1,615,688 1,616 K	-53.9 %	3,503,918 3,504 K	-2.4 %	3,591,789 3,592 K
Financial reserves and provisions	GQ	10,903 11 K	-53.3 %	23,361 23 K	63.2 %	14,312 14 K
Interest and similar charges	GR	1,530,211 1,530 K	-55.4 %	3,428,661 3,429 K	3.7 %	3,305,788 3,306 K
Exchange losses	GS	74,574 75 K	43.7 %	51,896 52 K	-80.9 %	271,689 272 K
Net loss from disposal of investment securities	GT	0 0 K	0%	0 0 K	0%	0 0 K

Extraordinary income (VII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary income (Total VII)	HD	31,573,354 31,573 K	76.1 %	17,928,105 17,928 K	76.9 %	10,132,942 10,133 K
Extraordinary operating income	HA	857,692 858 K	-93.9 %	14,152,346 14,152 K	178.5 %	5,081,244 5,081 K
Extraordinary income from capital transactions	HB	18,400,000 18,400 K	1593.1 %	1,086,744 1,087 K	0%	0 0 K
Released provisions and transferred charges	HC	12,315,662 12,316 K	358.0 %	2,689,015 2,689 K	-46.8 %	5,051,698 5,052 K

Extraordinary charges (VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary charges (Total VIII)	HH	15,516,311 15,516 K	-4.2 %	16,200,648 16,201 K	159.7 %	6,238,702 6,239 K
Extraordinary operating charges	HE	1,834,573 1,835 K	154.0 %	722,132 722 K	-72.3 %	2,609,582 2,610 K
Extraordinary charges from capital transactions	HF	7,254,086 7,254 K	1111.6 %	598,733 599 K	33.7 %	447,860 448 K
Extraordinary reserves and provisions	HG	6,427,652 6,428 K	-56.8 %	14,879,783 14,880 K	367.7 %	3,181,260 3,181 K

Employee profit sharing (IX)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Employee profit sharing (Total IX)	HJ	521 1 K	-99.9 %	499,282 499 K	3620.8 %	-14,181 -14 K

Tax on profits (X)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Tax on profits (Total X)	HK	-984,346 -984 K	0%	0 0 K	0%	-200,000 -200 K

References

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which equipment leases	HP	0 0 K	0%	0 0 K	0%	0 0 K
Of which property leases	HQ	0 0 K	0%	0 0 K	0%	0 0 K
Of which transferred charges	A1	0 0 K	0%	0 0 K	0%	0 0 K
Of which trader's own contributions	A2	0 0 K	0%	0 0 K	0%	0 0 K
Of which royalties on licences and patents (income)	A3	0 0 K	0%	0 0 K	0%	0 0 K
Of which royalties on licences and patents (charges)	A4	0 0 K	0%	0 0 K	0%	0 0 K

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	OG	0 0 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	OH	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess, acquisitions, creations, contributions	OJ	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	OK1	65,289 65 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	OK2	31,659,640 31,660 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	OL	109,273,430 109,273 K	0%	0 0 K	0%	0 0 K

Research and development Charge (Total I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	CZ	0 0 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	KB	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KC	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	CO1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	CO2	0 0 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	DO	0 0 K	0%	0 0 K	0%	0 0 K

Other budget item from Intangible fixed assets (Total II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	KD	30,207,912 30,208 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	KE	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KF	2,865 3 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	LV1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	LV2	908,046 908 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	LW	29,302,731 29,303 K	0%	0 0 K	0%	0 0 K

Tangible fixed assets (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	LN	96,751,712 96,752 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	LO	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LP	3,826,996 3,827 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	NG1	65,289 65 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	NG2	27,782,741 27,783 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	NH	72,730,678 72,731 K	0%	0 0 K	0%	0 0 K

Financial assets (Total IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value at begin of period	LQ	10,005,349 10,005 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	LR	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LS	203,525 204 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	NJ1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	NJ2	2,968,853 2,969 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	NK	7,240,021 7,240 K	0%	0 0 K	0%	0 0 K

Reserve for depreciation

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

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	ON	0 0 K	0%	0 0 K	0%	0 0 K
Increases	OP	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess	OQ	0 0 K	0%	0 0 K	0%	0 0 K
Reserve for depreciation value at the end of period	OR	0 0 K	0%	0 0 K	0%	0 0 K

RESEARCH AND DEVELOPMENT CHARGE (TOTAL I)

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

Other intangible assets (Total II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	PE	861,503 862 K	0%	0 0 K	0%	0 0 K
Increases	PF	87,046 87 K	0%	0 0 K	0%	0 0 K
Decreasess	PG	57,780 58 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	PH	890,768 891 K	0%	0 0 K	0%	0 0 K

Total fixed assets amotisation (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Reserve for depreciation value at begin of period	QU	69,691,038 69,691 K	0%	0 0 K	0%	0 0 K
Increases	QV	5,491,246 5,491 K	0%	0 0 K	0%	0 0 K
Decreases	QW	21,378,922 21,379 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	QX	53,803,362 53,803 K	0%	0 0 K	0%	0 0 K

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

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

Premium refund of obligations

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Net value at begin of period	SP1	0 0 K	0%	0 0 K	0%	0 0 K
Increases	SP2	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation of fixed assets during period	SP	0 0 K	0%	0 0 K	0%	0 0 K
Net value at the end of period	SR	0 0 K	0%	0 0 K	0%	0 0 K

Provisions included in balance sheet

Grand Total (I-II-III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	7C	35,615,020 35,615 K	0%	0 0 K	0%	0 0 K
Increases	UB	11,294,811 11,295 K	0%	0 0 K	0%	0 0 K
Decreases	UC	17,670,366 17,670 K	0%	0 0 K	0%	0 0 K
Value at the end of period	UD	29,239,465 29,239 K	0%	0 0 K	0%	0 0 K

Includes Total allocations

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating	UE	4,856,255 4,856 K	0%	0 0 K	0%	0 0 K
Financial	UG	10,903 11 K	0%	0 0 K	0%	0 0 K
Exceptional	UJ	6,427,652 6,428 K	0%	0 0 K	0%	0 0 K

Includes Total Withdrawal

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Operating	UF	5,336,442 5,336 K	0%	0 0 K	0%	0 0 K
Financial	UH	18,261 18 K	0%	0 0 K	0%	0 0 K
Exceptional	UK	12,315,662 12,316 K	0%	0 0 K	0%	0 0 K

TOTAL REGULATED PROVISIONS (TOTAL I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	3Z	10,193,230 10,193 K	0%	0 0 K	0%	0 0 K
Increases	TS	1,674,692 1,675 K	0%	0 0 K	0%	0 0 K
Decreases	TT	2,334,542 2,335 K	0%	0 0 K	0%	0 0 K
Value at the end of period	TU	9,533,380 9,533 K	0%	0 0 K	0%	0 0 K

Total risk and charge provisions (Total II)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	5Z	3,635,156 3,635 K	0%	0 0 K	0%	0 0 K
Increases	TV	1,156,362 1,156 K	0%	0 0 K	0%	0 0 K
Decreases	TW	1,978,666 1,979 K	0%	0 0 K	0%	0 0 K
Value at the end of period	TX	2,812,852 2,813 K	0%	0 0 K	0%	0 0 K

Total Provision for depreciation (Total III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Value at begining of period	7B	21,786,634 21,787 K	0%	0 0 K	0%	0 0 K
Increases	TY	8,463,757 8,464 K	0%	0 0 K	0%	0 0 K
Decreases	TZ	13,357,158 13,357 K	0%	0 0 K	0%	0 0 K
Value at the end of period	UA	16,893,233 16,893 K	0%	0 0 K	0%	0 0 K

State deadlines claims and debts at the end of period

State claims

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Gross value	VT	46,030,628 46,031 K	0%	0 0 K	0%	0 0 K
1 year at most	VU	39,358,606 39,359 K	0%	0 0 K	0%	0 0 K
More than one year	VV	6,672,022 6,672 K	0%	0 0 K	0%	0 0 K

State of loans

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Claims related to holdings (gross)	UL	0 0 K	0%	0 0 K	0%	0 0 K
Claims related to shareholdings (1 year at most)	UM	0 0 K	0%	0 0 K	0%	0 0 K
Loans (gross)	UP	0 0 K	0%	0 0 K	0%	0 0 K
Loans (1 year at most)	UR	0 0 K	0%	0 0 K	0%	0 0 K
Other financial assets (gross)	UT	6,421,821 6,422 K	0%	0 0 K	0%	0 0 K
Other financial assets (1 year at most)	UV	0 0 K	0%	0 0 K	0%	0 0 K

Receivables statement of assets

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Customers doubtful or disputed	VA	168,314 168 K	0%	0 0 K	0%	0 0 K
Other claims customer	UX	7,052,185 7,052 K	0%	0 0 K	0%	0 0 K
Receivables represent Loaned Securities	UU	0 0 K	0%	0 0 K	0%	0 0 K
Provision for depreciation previously established	UQ	0 0 K	0%	0 0 K	0%	0 0 K
Personnel and associated accounts	UY	29,441 29 K	0%	0 0 K	0%	0 0 K
Social Security and other social organizations	UZ	0 0 K	0%	0 0 K	0%	0 0 K
Income taxes	VM	2,382 2 K	0%	0 0 K	0%	0 0 K
Value added tax	VB	2,091,800 2,092 K	0%	0 0 K	0%	0 0 K
Other taxes and payments assimilated	VN	944,668 945 K	0%	0 0 K	0%	0 0 K
State and other public - Miscellaneous	VP	0 0 K	0%	0 0 K	0%	0 0 K
Group and Associates	VC	24,040,316 24,040 K	0%	0 0 K	0%	0 0 K
Accounts receivable (including claims relating to the operation of pension titles)	VR	916,177 916 K	0%	0 0 K	0%	0 0 K

Prepaid

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Prepaid	VS	4,363,524 4,364 K	0%	0 0 K	0%	0 0 K

State Debt

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total debt (gross)	VY	91,509,404 91,509 K	0%	0 0 K	0%	0 0 K
1 year at most	VZ2	91,509,404 91,509 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VZ3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	VZ4	0 0 K	0%	0 0 K	0%	0 0 K

Details

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Convertible bonds (gross)	7Y1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	7Y2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Y3	0 0 K	0%	0 0 K	0%	0 0 K
Other bonds (gross)	7Z1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	7Z2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Z3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	879,875 880 K	0%	0 0 K	0%	0 0 K
1 year at most	VG2	879,875 880 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VG3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to more than 1 year at the origin (gross)	VH1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VH2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VH3	0 0 K	0%	0 0 K	0%	0 0 K
Loans and various financial liabilities (gross)	8A1	42,230,382 42,230 K	0%	0 0 K	0%	0 0 K
1 year at most	8A2	42,230,382 42,230 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8A3	0 0 K	0%	0 0 K	0%	0 0 K
Suppliers and associated accounts (gross)	8B1	33,936,784 33,937 K	0%	0 0 K	0%	0 0 K
1 year at most	8B2	33,936,784 33,937 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8B3	33,936,784 33,937 K	0%	0 0 K	0%	0 0 K
Personnel and associated accounts (gross)	8C1	3,480,366 3,480 K	0%	0 0 K	0%	0 0 K
1 year at most	8C2	3,480,366 3,480 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8C3	0 0 K	0%	0 0 K	0%	0 0 K
Social Security and other social organizations (gross)	8D1	3,215,100 3,215 K	0%	0 0 K	0%	0 0 K
1 year at most	8D2	3,215,100 3,215 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8D3	0 0 K	0%	0 0 K	0%	0 0 K
Taxes on profits (gross)	8E1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	8E2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8E3	0 0 K	0%	0 0 K	0%	0 0 K
VAT (Gross)	VW1	1,851,647 1,852 K	0%	0 0 K	0%	0 0 K
1 year at most	VW2	1,851,647 1,852 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VW3	0 0 K	0%	0 0 K	0%	0 0 K
Backed Obligations (gross)	VX1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VX2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VX3	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and assimilated (gross)	VQ1	1,363,182 1,363 K	0%	0 0 K	0%	0 0 K
1 year at most	VQ2	1,363,182 1,363 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VQ3	0 0 K	0%	0 0 K	0%	0 0 K
Assets and liabilities associated accounts (gross)	8J1	1,233,626 1,234 K	0%	0 0 K	0%	0 0 K
1 year at most	8J2	1,233,626 1,234 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8J3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	8J4	0 0 K	0%	0 0 K	0%	0 0 K
Groups and associates (gross)	VI1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VI2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VI3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	V14	0 0 K	0%	0 0 K	0%	0 0 K
Other liabilities (gross)	8K1	3,318,442 3,318 K	0%	0 0 K	0%	0 0 K
1 year at most	8K2	3,318,442 3,318 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8K3	0 0 K	0%	0 0 K	0%	0 0 K
Debt representative of borrowed securities (gross)	SZ1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	SZ2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	SZ3	0 0 K	0%	0 0 K	0%	0 0 K
Products in advance (gross)	8L1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	8L2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8L3	0 0 K	0%	0 0 K	0%	0 0 K

References

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

Table allocation results and other information

Dividends distributed

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

Commitments

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

Other charges Externes

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Subcontracting	YT	0 0 K	0%	0 0 K	0%	0 0 K
Rentals, rental charges and condominiums	XQ	0 0 K	0%	0 0 K	0%	0 0 K
Staff outside the company	YU	0 0 K	0%	0 0 K	0%	0 0 K
Remuneration intermediaries and fees (excluding fees)	SS	0 0 K	0%	0 0 K	0%	0 0 K
Fees, commissions and brokerage	YV	0 0 K	0%	0 0 K	0%	0 0 K
Other accounts	ST	0 0 K	0%	0 0 K	0%	0 0 K
Total Other purchases and external	ZJ	0 0 K	0%	0 0 K	0%	0 0 K

Taxes and Fees

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Business tax	YW	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and payments assimilated	9Z	0 0 K	0%	0 0 K	0%	0 0 K
Total taxes and fees	YX	0 0 K	0%	0 0 K	0%	0 0 K

VAT

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Amount VAT collected	YY	0 0 K	0%	0 0 K	0%	0 0 K
Total VAT on goods and services	YZ	0 0 K	0%	0 0 K	0%	0 0 K

Average number of employees

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Average number of employees	YP	901 1 K	-14.4 %	1,052 1 K	0%	0 0 K

Groups and Shareholders

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

Ratios

STRUCTURE AND LIQUIDITY

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Fixed Asset Financing	1.16	7.4 %	1.08	8.0 %	1.00	6.81	-83.0 %	1.23	-5.7 %
Global Debt	163 days	0.6 %	162 days	-33.9 %	245 days	712.32 days	-77.1 %	181 days	-9.9 %
Working Capital Fund overall net	31 days	72.2 %	18 days	1700.0 %	1 days	564.85 days	-94.5 %	37 days	-16.2 %
Financial independence	32.80 %	-15.4 %	38.78 %	202.5 %	-37.83 %	6,500.45 %	-99.5 %	53.28 %	-38.4 %
Solvability	12.86 %	-6.7 %	13.79 %	139.8 %	-34.61 %	-130.42 %	109.9 %	25.21 %	-49.0 %
Capacity debt futures	1,607.02 %	-	-	-	-	58,313.08 %	-97.2 %	424.65 %	278.4 %
Coverage of current assets by net working capital overall	25.93 %	60.7 %	16.14 %	2081.1 %	0.74 %	-98.28 %	126.4 %	30.00 %	-13.6 %
General Liquidity	0.43	-	-	-	-	10.09	-95.7 %	0.09	377.8 %
Restricted Liquidity	0.45	-	-	-	-	22.76	-98.0 %	0.32	40.6 %

Management or rotation

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Need background in operating working capital	19 days	375.0 %	4 days	130.8 %	-13 days	12.61 days	50.7 %	-1 days	2000.0 %
Treasury	4 days	0%	4 days	0%	4 days	517.74 days	-99.2 %	2 days	100.0 %
Inventory turnover of goods	125 days	7.8 %	116 days	11.5 %	104 days	254.87 days	-51.0 %	147 days	-15.0 %
Average length of credit granted to customers	13 days	-61.8 %	34 days	209.1 %	11 days	16.66 days	-22.0 %	0 days	0%
Average length of credit obtained suppliers	70 days	-6.7 %	75 days	29.3 %	58 days	1,101.94 days	-93.6 %	49 days	42.9 %
Inventory turnover of raw materials in industrial enterprises	9 days	-55.0 %	20 days	-80.6 %	103 days	179.77 days	-95.0 %	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	-	-	-	-	-	1,109.01 days	-	490 days	-
Rotation tangible assets	281.81 %	-	-	-	-	-15,036.63 %	101.9 %	526.30 %	-46.5 %

Profitability of the business

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Margin trading	56.64 %	-2.8 %	58.25 %	4.6 %	55.71 %	36.56 %	54.9 %	42.57 %	33.1 %
Profitability of the business	-3.97 %	44.0 %	-7.09 %	6.2 %	-7.56 %	-28.53 %	86.1 %	3.99 %	-199.5 %
Net profit	-0.55 %	95.5 %	-12.18 %	-5.2 %	-11.58 %	123.33 %	-100.4 %	1.39 %	-139.6 %
Growth rate of turnover (excluding VAT)	-4.01 %	10.9 %	-4.50 %	-478.2 %	1.19 %	3.13 %	-228.1 %	-3.01 %	-33.2 %
Rates integration	14.29 %	19.8 %	11.93 %	6.0 %	11.25 %	-1.80 %	893.9 %	24.40 %	-41.4 %
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.03 %	0%	0.00 %	0%
Work Factor	116.25 %	-19.9 %	145.09 %	-4.3 %	151.67 %	-63.23 %	283.9 %	73.05 %	59.1 %
Weight interests	0.79 %	-51.8 %	1.64 %	1.9 %	1.61 %	1.87 %	-57.8 %	0.55 %	43.6 %

Return on capital

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Cash flow from the overall profitability	-8.74 %	-322.2 %	-2.07 %	69.7 %	-6.84 %	117.33 %	-107.4 %	3.59 %	-343.5 %
Rates of economic profitability	-14.00 %	48.1 %	-27.00 %	-3.8 %	-26.00 %	-3.10 %	-351.6 %	9.31 %	-250.4 %
Financial profitability	14,139,809.00 %	-11.2 %	15,917,338.00 %	140.3 %	-39,456,226.00 %	343,379.35 %	4017.8 %	5,097.00 %	277314.3 %
Return on investment	0.87 %	102.2 %	-39.52 %	-14.9 %	-34.39 %	-8.75 %	109.9 %	5.88 %	-85.2 %

Management intermediate balances

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Sector Average 2013

Sector Median 2013

Turnover

204,963,361 204,963 K

-4.0 %

213,531,044 213,531 K

-4.5 %

223,595,746 223,596 K

1,508,518.38 1,508.52 K

13487.1 %

231,873 232 K

88294.7 %

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Sector Average 2013

Sector Median 2013

Sales of goods

201,870,417 201,870 K

-3.5 %

209,089,996 209,090 K

-4.5 %

218,962,779 218,963 K

-

-

- Purchase of goods

88,275,479 88,275 K

4.2 %

84,721,484 84,721 K

-5.9 %

90,045,904 90,046 K

-

-

+/- Stock of goods variation

-2,495,939 -2,496 K

-12041.6 %

-20,557 -21 K

-100.5 %

4,352,968 4,353 K

-

-

Trading margin

116,090,877 € 116,091 K €

-6.7 %

124,389,069 € 124,389 K €

-0.1 %

124,563,907 € 124,564 K €

701,591.06 € 701.59 K €

16446.8 %

91,899 € 92 K €

126224.4 %

56.64 % CA 56.64 % CA

-2.8 %

58.25 % CA 58.25 % CA

4.6 %

55.71 % CA 55.71 % CA

43.54 % CA 43.54 % CA

30.1 %

42.96 % CA 42.96 % CA

31.8 %

		31/12/2013		Variation		31/12/2012		Variation		31/12/2011	Sector Average 2013		Sector Median 2013
Sale of goods produced		3,092,944 3,093 K		-30.4 %		4,441,048 4,441 K		-4.1 %		4,632,967 4,633 K		-		-
+/- Stocked production		0 0 K		0%		0 0 K		0%		0 0 K		-		-
+ Self-constructed assets		0 0 K		0%		0 0 K		0%		0 0 K		-		-
Period production		3,092,944 € 3,093 K €		-30.4 %		4,441,048 € 4,441 K €		-4.1 %		4,632,967 € 4,633 K €	108,906.19 € 108.91 K €	2740.0 %	0 € 0 K €	0%
		1.51 % CA 1.51 % CA		-27.4 %		2.08 % CA 2.08 % CA		0.5 %		2.07 % CA 2.07 % CA	15.76 % CA 15.76 % CA	-90.4 %	0.00 % CA 0.00 % CA	0%
	31/12/2013		Variation		31/12/2012		Variation		31/12/2011		Sector Average 2013		Sector Median 2013
Trading margin	116,090,877 116,091 K		-6.7 %		124,389,069 124,389 K		-0.1 %		124,563,907 124,564 K		701,591.06 701.59 K	16446.8 %	91,899 92 K	126224.4 %
+ Period Production	3,092,944 3,093 K		-30.4 %		4,441,048 4,441 K		-4.1 %		4,632,967 4,633 K		108,906.19 108.91 K	2740.0 %	0 0 K	0%
- Purchase of raw materials	3,634,023 3,634 K		-24.4 %		4,809,111 4,809 K		-4.3 %		5,027,079 5,027 K			-		-
+/- Change in stocks of raw materiels	637,231 637 K		42.1 %		448,404 448 K		-19.5 %		556,744 557 K			-		-
- Other external purchases and charges	85,624,609 85,625 K		-12.7 %		98,107,385 98,107 K		-0.4 %		98,459,143 98,459 K			-		-
Added value	29,287,958 € 29,288 K €		15.0 %		25,465,217 € 25,465 K €		1.2 %		25,153,908 € 25,154 K €		387,478.51 € 387.48 K €	7458.6 %	59,818 € 60 K €	48861.8 %
	14.29 % CA 14.29 % CA		19.8 %		11.93 % CA 11.93 % CA		6.0 %		11.25 % CA 11.25 % CA		-1.80 % CA -1.80 % CA	893.9 %	24.40 % CA 24.40 % CA	-41.4 %

	31/12/2013		Variation		31/12/2012		Variation		31/12/2011		Sector Average 2013		Sector Median 2013
Added value	29,287,958 € 29,288 K €		15.0 %		25,465,217 € 25,465 K €		1.2 %		25,153,908 € 25,154 K €		387,478.51 € 387.48 K €	7458.6 %	59,818 € 60 K €	48861.8 %
+ Operating grants	0 0 K		0%		0 0 K		0%		0 0 K			-		-
- Tax, duty and similar payments	3,383,819 3,384 K		-7.4 %		3,652,485 3,652 K		-6.5 %		3,904,432 3,904 K			-		-
- Personal charges	34,046,119 34,046 K		-7.9 %		36,948,457 36,948 K		-3.2 %		38,151,718 38,152 K			-		-
Gross operating surplus	-8,141,980 € -8,142 K €		46.2 %		-15,135,725 € -15,136 K €		10.5 %		-16,902,242 € -16,902 K €		90,144.82 € 90.14 K €	-9132.1 %	8,457 € 8 K €	-96375.0 %
	-3.97 % CA -3.97 % CA		44.0 %		-7.09 % CA -7.09 % CA		6.2 %		-7.56 % CA -7.56 % CA		-28.54 % CA -28.54 % CA	86.1 %	3.99 % CA 3.99 % CA	-199.5 %
		31/12/2013		Variation		31/12/2012		Variation		31/12/2011	Sector Average 2013		Sector Median 2013
Gross operating surplus		-8,141,980 € -8,142 K €		46.2 %		-15,135,725 € -15,136 K €		10.5 %		-16,902,242 € -16,902 K €	90,144.82 € 90.14 K €	-9132.1 %	8,457 € 8 K €	-96375.0 %
+ Release of reserves and provisions		5,403,477 5,403 K		-6.3 %		5,764,119 5,764 K		-23.2 %		7,508,321 7,508 K		-		-
+ Other operating income		122,988 123 K		-93.4 %		1,862,877 1,863 K		711.0 %		229,688 230 K		-		-
- Depreciation/ Amortisation		10,434,547 10,435 K		-16.8 %		12,548,702 12,549 K		-0.9 %		12,666,005 12,666 K		-		-
- Other charges		5,457,091 5,457 K		-1.0 %		5,509,929 5,510 K		-16.2 %		6,574,025 6,574 K		-		-
Operating result		-18,507,153 € -18,507 K €		27.6 %		-25,567,360 € -25,567 K €		10.0 %		-28,404,263 € -28,404 K €	40,368.74 € 40.37 K €	-45945.3 %	4,474 € 4 K €	-413760.1 %
		-9.03 % CA -9.03 % CA		24.6 %		-11.97 % CA -11.97 % CA		5.7 %		-12.70 % CA -12.70 % CA	101.40 % CA 101.40 % CA	-108.9 %	2.12 % CA 2.12 % CA	-525.9 %

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Sector Average 2013

Sector Median 2013

Operating result

-18,507,153 € -18,507 K €

27.6 %

-25,567,360 € -25,567 K €

10.0 %

-28,404,263 € -28,404 K €

40,368.74 € 40.37 K €

-45945.3 %

4,474 € 4 K €

-413760.1 %

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

0 0 K

0%

0 0 K

0%

0 0 K

-

-

+ Financial income

1,964,294 1,964 K

7.5 %

1,827,380 1,827 K

-8.7 %

2,001,063 2,001 K

-

-

- Financial charges

1,615,688 1,616 K

-53.9 %

3,503,918 3,504 K

-2.4 %

3,591,789 3,592 K

-

-

Pre-tax result

-18,158,547 € -18,159 K €

33.3 %

-27,243,898 € -27,244 K €

9.2 %

-29,994,989 € -29,995 K €

35,443.05 € 35.44 K €

-51333.0 %

2,873 € 3 K €

-632141.3 %

-8.86 % CA -8.86 % CA

30.6 %

-12.76 % CA -12.76 % CA

4.8 %

-13.41 % CA -13.41 % CA

100.35 % CA 100.35 % CA

-108.8 %

1.40 % CA 1.40 % CA

-732.9 %

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Sector Average 2013

Sector Median 2013

Extraordinary income

31,573,354 31,573 K

76.1 %

17,928,105 17,928 K

76.9 %

10,132,942 10,133 K

29,742.59 29.74 K

106055.4 %

0 0 K

0%

- Extraordinary charges

15,516,311 15,516 K

-4.2 %

16,200,648 16,201 K

159.7 %

6,238,702 6,239 K

-

-

Extraordinary result

16,057,043 € 16,057 K €

829.5 %

1,727,457 € 1,727 K €

-55.6 %

3,894,240 € 3,894 K €

-643.52 € -0.64 K €

2495289.4 %

0 € 0 K €

0%

7.83 % CA 7.83 % CA

866.7 %

0.81 % CA 0.81 % CA

-53.4 %

1.74 % CA 1.74 % CA

43.99 % CA 43.99 % CA

-82.2 %

0.00 % CA 0.00 % CA

0%

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011	Sector Average 2013		Sector Median 2013
Pre-tax result	-18,158,547 € -18,159 K €	33.3 %	-27,243,898 € -27,244 K €	9.2 %	-29,994,989 € -29,995 K €	35,443.05 € 35.44 K €	-51333.0 %	2,873 € 3 K €	-632141.3 %
Extraordinary result	16,057,043 € 16,057 K €	829.5 %	1,727,457 € 1,727 K €	-55.6 %	3,894,240 € 3,894 K €	-643.52 € -0.64 K €	2495289.4 %	0 € 0 K €	0%
- Employee profit sharing	521 1 K	-99.9 %	499,282 499 K	3620.8 %	-14,181 -14 K		-		-
- Tax on profits	-984,346 -984 K	0%	0 0 K	0%	-200,000 -200 K		-		-
Net result	-1,117,679 € -1,118 K €	95.7 %	-26,015,723 € -26,016 K €	-0.5 %	-25,886,568 € -25,887 K €	13,534.85 € 13.53 K €	-8357.8 %	2,992 € 3 K €	-37455.6 %
	-0.55 % CA -0.55 % CA	95.5 %	-12.18 % CA -12.18 % CA	-5.2 %	-11.58 % CA -11.58 % CA	121.28 % CA 121.28 % CA	-100.5 %	1.39 % CA 1.39 % CA	-139.6 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	ASH

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.