MIRA INFORM REPORT

Report No. :	310245
Report Date :	07.03.2015

IDENTIFICATION DETAILS

Name :	GROUPE SALMON ARC EN CIEL
Registered Office :	49 Rue De La Vendee Cs70210 49450 Villedieu La Blouere
Country :	France
Financials (as on) :	31.12.2009
Date of Incorporation :	February 1989
Legal Form :	Simplified joint stock company
Line of Business :	Manufacture of other wearing apparel and accessories
No. of Employee :	100 to 199 employees

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
France	A1	A1

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

FRANCE ECONOMIC OVERVIEW

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

Source : CIA

Company name

GROUPE SALMON ARC EN CIEL

company summary

Trade name	LES BONNES AFFAIRES DE BÉBÉ	Acronym	GSA
Safe Number	FR02185896	EUR VAT Number	FR32349773697
Activity (APE)	Manufacture of other wearing apparel and accessories (1419Z)	Legal form	Simplified joint stock company
Phone	02 41 64 51 50	RCS Registration	RCS Angers 8 349 773 697
Fax		Share capital	4,800,048 Euros
Address	GROUPE SALMON ARC EN CIEL GSA 49 RUE DE LA VENDEE CS70210 49450 VILLEDIEU LA BLOUERE	Incorporated Date	02/1989
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	36
Total number of Invoices paid within or up to 30 days after the due date	35
Total number of Invoices paid more than 30 days after the due date	1
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

No social security and tax office preferential right to date

Ultimate Holding Company
Company Name	Company number	Click here to view the affiliation links
BABY GIFT INTERNATIONAL SYSTEM	487503674

Current Directors

1

Trading to Date	12/31/2009	12/31/2008	12/31/2007
Turnover	26,226,164 €	31,344,218 €	36,792,898 €
Gross Operating Surplus	1.29 % Turnover	4.08 % Turnover	7.04 % Turnover
Shareholders’ equity	12,127,733 €	13,318,419 €	14,621,228 €
Net result	923,448 €	699,223 €	1,973,584 €
Employees	100 to 199 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Manufacture of other wearing apparel and accessories (1419Z)
RCS Registration	RCS Angers 8 349 773 697	Share capital	4,800,048 Euros
Registration Court	Angers (49)	Legal form	Simplified joint stock company
Court Registry Number	19 8 9B00132	EUR VAT Number	FR32349773697
Incorporation Date	02/1989	Formation Date	02/1989
Deregistration Date		Last account Date	31/12/2009
Nationality	France

Ultimate Parent

1 ultimate parent company for this company  >  BABY GIFT INTERNATIONAL SYSTEM  - Activités des sociétés holding (6420Z)  in VILLEDIEU LA BLOUERE  (49450)

Establishment details

Trade name	LES BONNES AFFAIRES DE BÉBÉ	Acronym	GSA
Activity (APE)	Manufacture of other wearing apparel and accessories (1419Z)	Business Pages FT®	VETEMENTS POUR BEBES ET ENFANTS (FABRICATION, GROS)
Postal Address	GROUPE SALMON ARC EN CIEL  GSA  49 RUE DE LA VENDEE  CS70210  49450 VILLEDIEU LA BLOUERE	Trading Address	49 RUE DE LA VENDEE  49450 VILLEDIEU LA BLOUERE
Telephone	02 41 64 51 50
Fax

Type	Head office	Status	Economically active
Formation Date	02/1989	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role	Tenant of a goodwill
Activity Nature	Other	Activity Location	Other
Location surface		Seasonality

Department	Maine-et-Loire (49)	Region	Pays de La Loire
District	2	Area	06
City	VILLEDIEU LA BLOUERE	Size of urban area	Establishment in a rural municipality

Other establishments

Branches	7 branch entities in this company
Head office	> GROUPE SALMON ARC EN CIEL <<<  - Fabrication d'autres vêtements et accessoires (1419Z)  in VILLEDIEU LA BLOUERE  (49450)
Secondary establishments	>  GROUPE SALMON ARC EN CIEL  - Fabrication d'autres vêtements et accessoires (1419Z)  in VILLEDIEU LA BLOUERE  (49450)  >  GROUPE SALMON ARC EN CIEL  - Fabrication d'autres vêtements et accessoires (1419Z)  in PARIS 6  (75006)  >  GROUPE SALMON ARC EN CIEL  - Fabrication d'autres vêtements et accessoires (1419Z)  in SAINT GERMAIN SUR MOINE  (49230)  >  GROUPE SALMON ARC EN CIEL  - Fabrication d'autres vêtements et accessoires (1419Z)  in NANTES  (44000)  > ...

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit having all establishments with the same main activity

WORKFORCES

Workforce at address

100 to 199 employees

Company workforce

100 to 199 employees

Accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2009	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	22/06/2011	-	-
Activity Code	1419Z	1419Z	1419Z
Employees	167	0	208

Active account

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	6,776,496	5.4%	6,426,800	-9.2%	7,076,623	28,696	23514.8%
- Intangible assets	1,350,451	-3.8%	1,403,260	5.9%	1,324,732	2,058	65519.6%
- Tangible assets	2,864,598	-14.9%	3,364,790	-2.9%	3,464,427	6,442	44367.5%
- Financial assets	2,561,447	54.4%	1,658,750	-27.5%	2,287,462	789	324544.7%
Net current assets	20,582,988	-13.2%	23,719,084	-11.5%	26,797,522	158,411	12893.4%
- Stocks	3,581,482	-13.8%	4,156,790	-8.0%	4,519,322	37,258	9512.7%
- Advanced payments	0	-13.2%	0	0%	0	0	0%
- Receivables	7,717,005	-18.9%	9,519,142	-13.8%	11,040,573	52,619	14565.8%
- Securities and cash	9,284,501	-7.6%	10,043,152	-10.6%	11,237,627	15,726	58939.2%
- Prepaid expenses	-	-	-	-	-	26	-
Accounts of regularization	1,613	-91.0%	17,920	100.3%	8,948	0	0%
Total Assets	27,361,097	-9.3%	30,163,805	-11.0%	33,883,093	202,373	13420.1%

Passive Account

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Shareholders' equity	12,127,733	-8.9%	13,318,419	-8.9%	14,621,228	58,851	20507.5%
Share capital	4,800,000	0%	4,800,000	0%	4,800,000	15,000	31900%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	534,308	1.5%	526,463	-20.5%	662,140	0	0%
Liabilities	14,344,105	-10.5%	16,022,335	-11.8%	18,157,486	121,636	11692.6%
- Financial liabilities	7,854,600	-16.4%	9,394,295	-0.7%	9,456,663	22,178	35316.2%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	3,398,836	-14.6%	3,980,624	-24.7%	5,288,848	24,505	13770.0%
- Tax and social liabilities	1,936,003	-7.0%	2,082,751	-22.0%	2,671,245	58,185	3227.3%
- Other debts and fixed assets liabilities	1,509,617	75.3%	861,252	-27.2%	1,182,970	5,848	25714.2%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	27,361,097	-9.3%	30,163,805	-11.0%	33,883,093	202,372	13420.2%

Results

Annual Accounts	31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Sales of Goods	26,313,317	-16.8%	31,632,598	-11.9%	35,892,568	316,995	8200.9%
Net turnover	26,226,164	-16.3%	31,344,218	-14.8%	36,792,898	300,234	8635.2%
- of which net export turnover	2,296,036	-40.4%	3,852,842	-17.9%	4,694,737	295	778217.3%
Operating charges	25,866,829	-15.5%	30,612,210	-8.6%	33,494,739	311,531	8203.1%
Operating profit/loss	446,488	-56.2%	1,020,388	-57.4%	2,397,829	3,911	11316.2%
Financial income	1,310,144	42.6%	918,852	21.6%	755,822	16	8188300%
Financial charges	648,352	-27.5%	894,080	60.1%	558,555	1,294	50004.5%
Financial profit/loss	661,792	2571.5%	24,772	-87.4%	197,267	-618	107186.1%
Pretax net operating income	1,108,280	6.0%	1,045,160	-59.7%	2,595,096	2,749	40215.8%
Extraordinary income	603,678	187.7%	209,799	-71.1%	726,690	100	603578.0%
Extraordinary charges	1,049,349	209.1%	339,481	-28.6%	475,626	222	472579.7%
Extraordinary profit/loss	-445,671	-243.7%	-129,682	-151.7%	251,064	0	0%
Net result	923,448	32.1%	699,223	-64.6%	1,973,584	5,034	18244.2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2009	31/12/2008	31/12/2007
Months	12	12	12

Accounts – Active

 Current Assets |  Equalization accounts |  Reference 

Grand Total - Passive Accounts (I to IV)

			31/12/2009		31/12/2008		31/12/2007
	Grand Total (I to VI)	Net	27,361,097	-9.3%	30,163,805	-11.0%	33,883,093
	Gross	CO	35,612,298	-8.4%	38,886,384	-8.3%	42,392,563
	Amortisation	1A	8,251,201	-5.4%	8,722,580	2.5%	8,509,470

Non declared distributed capital (I)

		31/12/2009		31/12/2008		31/12/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

			31/12/2009		31/12/2008		31/12/2007
	Total Active fixed asset (II)	Net	6,776,496	5.4%	6,426,800	-9.2%	7,076,623
	Gross	BJ	13,385,240	3.9%	12,887,174	-2.3%	13,197,185
	Amortisation	BK	6,608,744	2.3%	6,460,374	5.6%	6,120,562

Intangilble fixed assets

			31/12/2009		31/12/2008		31/12/2007
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	116,349	-31.2%	169,158	86.6%	90,630
	Gross	AF	702,005	-17.5%	850,952	11.4%	764,195
	Amortisation	AG	585,656	-14.1%	681,794	1.2%	673,565
	Goodwill	Net	1,234,102	0%	1,234,102	0%	1,234,102
	Gross	AH	1,234,102	0%	1,234,102	0%	1,234,102
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	1,350,451	-3.8%	1,403,260	5.9%	1,324,732

Tangilble fixed assets

			31/12/2009		31/12/2008		31/12/2007
	Lands	Net	222,692	-1.6%	226,400	0.5%	225,367
	Gross	AN	260,939	0%	260,939	1.8%	256,313
	Amortisation	AO	38,247	10.7%	34,539	11.6%	30,946
	Buildings	Net	2,296,153	-12.7%	2,629,975	-2.8%	2,705,322
	Gross	AP	4,198,384	-5.8%	4,455,260	2.1%	4,365,054
	Amortisation	AQ	1,902,231	4.2%	1,825,285	10.0%	1,659,732
	Plant	Net	180,032	-31.6%	263,209	345.5%	59,088
	Gross	AR	1,425,361	-6.0%	1,515,780	3.7%	1,462,136
	Amortisation	AS	1,245,329	-0.6%	1,252,571	-10.7%	1,403,048
	Other tangible fixed assets	Net	165,721	-32.4%	245,206	-30.6%	353,103
	Gross	AT	1,453,995	-6.9%	1,562,384	-5.7%	1,657,371
	Amortisation	AU	1,288,274	-2.2%	1,317,178	1.0%	1,304,268
	Fixed assets in construction	Net	0	0%	0	0%	121,547
	Gross	AV	0	0%	0	0%	121,547
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	2,864,598		3,364,790		3,464,427

Financial assets

			31/12/2009		31/12/2008		31/12/2007
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	1,157,285	-14.7%	1,357,285	-18.1%	1,657,286
	Gross	CU	2,685,711	0%	2,685,711	0%	2,685,711
	Amortisation	CV	1,528,426	15.1%	1,328,426	29.2%	1,028,425
	Inter-company receivables	Net	1,371,860	410.0%	268,991	-54.8%	595,531
	Gross	BB	1,371,860	410.0%	268,991	-54.8%	595,531
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	206	0%	206
	Gross	BD	20,581	-1.0%	20,787	0%	20,787
	Amortisation	BE	20,581	0%	20,581	0%	20,581
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	32,302	0.1%	32,268	-6.3%	34,439
	Gross	BH	32,302	0.1%	32,268	-6.3%	34,439
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		2,561,447		1,658,750		2,287,462

Current Assets (III)

			31/12/2009		31/12/2008		31/12/2007
	Total Assets	Net	20,582,988	-13.2%	23,719,084	-11.5%	26,797,522
	Gross	CJ	22,225,447	-14.5%	25,981,290	-11.0%	29,186,430
	Amortisation	CK	1,642,459	-27.4%	2,262,206	-5.3%	2,388,908

Stocks

			31/12/2009		31/12/2008		31/12/2007
	Raw materials	Net	242,949	-31.3%	353,665	-8.6%	387,022
	Gross	BL	607,018	-36.2%	951,040	-15.4%	1,124,712
	Amortisation	BM	364,069	-39.1%	597,375	-19.0%	737,690
	Work in progress (goods)	Net	100,280	-63.0%	270,806	-23.0%	351,700
	Gross	BN	100,280	-63.0%	270,806	-23.0%	351,700
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	467,280	-5.3%	493,524	-0.2%	494,277
	Gross	BP	467,280	-5.3%	493,524	-0.2%	494,277
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	450,772	-6.3%	481,314	-33.2%	720,687
	Gross	BR	604,840	-23.6%	791,358	-24.4%	1,047,261
	Amortisation	BS	154,068	-50.3%	310,044	-5.1%	326,574
	Goods for resale	Net	2,320,201	-9.3%	2,557,481	-0.3%	2,565,636
	Gross	BT	3,121,157	-13.0%	3,587,963	0.0%	3,587,367
	Amortisation	BU	800,956	-22.3%	1,030,482	0.9%	1,021,731
	Sub Total Stocks	Net	3,581,482	-13.8%	4,156,790	-8.0%	4,519,322

Advance payments to suppliers

			31/12/2009		31/12/2008		31/12/2007
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2009		31/12/2008		31/12/2007
	Trade accounts receivable	Net	6,724,319	-22.1%	8,637,453	-10.5%	9,653,275
	Gross	BX	7,047,685	-21.4%	8,961,758	-10.0%	9,956,188
	Amortisation	BY	323,366	-0.3%	324,305	7.1%	302,913
	Other debtors	Net	382,235	28.9%	296,516	-24.7%	393,761
	Gross	BZ	382,235	28.9%	296,516	-24.7%	393,761
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	7,106,554	-20.5%	8,933,969	-11.1%	10,047,036

Divers

			31/12/2009		31/12/2008		31/12/2007
	Investment securities	Net	7,124,419	12.5%	6,334,392	-5.1%	6,677,471
	Gross	CD	7,124,419	12.5%	6,334,392	-5.1%	6,677,471
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	2,160,082	-41.8%	3,708,760	-18.7%	4,560,156
	Gross	CF	2,160,082	-41.8%	3,708,760	-18.7%	4,560,156
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	9,284,501	-7.6%	10,043,152	-10.6%	11,237,627

Prepaid expenses

			31/12/2009		31/12/2008		31/12/2007
	Prepaid expenses	Net	610,451	4.3%	585,173	-41.1%	993,537
	Gross	CH	610,451	4.3%	585,173	-41.1%	993,537
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2009		31/12/2008		31/12/2007
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	1,613	-91.0%	17,920	100.3%	8,948
Gross		1,613	-	-	-	-

References

		31/12/2009		31/12/2008		31/12/2007
Due within one year	CP	1,371,860	410.0%	268,991	-54.8%	595,531
Due after one year	CR	260,039	-15.4%	307,409	8.8%	282,487

Display parameter
Currency	Euro	Kilo Euro

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

Grand Total - Passive Accounts (I to IV)

		31/12/2009		31/12/2008		31/12/2007
Grand Total (I to V)	EE	27,361,097	-9.3%	30,163,805	-11.0%	33,883,093

Shareholder Equity (I)

			31/12/2009		31/12/2008		31/12/2007
	Total shareholders' equity (Total I)	DL	12,127,733	-8.9%	13,318,419	-8.9%	14,621,228
	Equity and shareholders' equity	DA	4,800,000	0%	4,800,000	0%	4,800,000
	Issue and merger premiums	DB	395,427	0%	395,427	0%	395,427
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	480,000	0%	480,000	0%	480,000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	3,486,134	0%	3,486,134	0%	3,486,134
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	1,864,335	-42.9%	3,265,112	-3.7%	3,391,528
	Profit or loss for the period	DI	923,448	32.1%	699,223	-64.6%	1,973,584
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	178,389	-7.3%	192,523	103.6%	94,555

Other capital resources (II)

			31/12/2009		31/12/2008		31/12/2007
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2009		31/12/2008		31/12/2007
	Total provisions for risks and charges (Total III)	DR	534,308	1.5%	526,463	-20.5%	662,140
	Risk provisions	DP	534,308	1.5%	526,463	-20.5%	662,140
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2009		31/12/2008		31/12/2007
	Total Liabilities (Total IV)	EC	14,344,105	-10.5%	16,022,335	-11.8%	18,157,486
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	2,558,318	-24.3%	3,381,609	-4.5%	3,539,894
	Sundry loans and financial liabilities	DV	5,296,282	-11.9%	6,012,686	1.6%	5,916,769
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	3,398,836	-14.6%	3,980,624	-24.7%	5,288,848
	Tax and social security liabilities	DY	1,936,003	-7.0%	2,082,751	-22.0%	2,671,245
	Fixed asset liabilities	DZ	41,831	-3.1%	43,187	-72.6%	157,739
	Other debts	EA	1,112,835	113.4%	521,478	-10.6%	582,991

Translation loss (V)

		31/12/2009		31/12/2008		31/12/2007
Translation loss (Total V)	ED	354,951	19.7%	296,587	-32.9%	442,240

Equalization accounts

		31/12/2009		31/12/2008		31/12/2007
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2009		31/12/2008		31/12/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	12,193,926	-5.2%	12,868,775	-11.5%	14,543,564
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2009		31/12/2008		31/12/2007
Operating result (Total I-II)	GG	446,488	-56.2%	1,020,388	-57.4%	2,397,829

2 - Financial result (V - VI)

		31/12/2009		31/12/2008		31/12/2007
Financial result (Total V-VI)	GV	661,792	2571.5%	24,772	-87.4%	197,267

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

		31/12/2009		31/12/2008		31/12/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1,108,280	6.0%	1,045,160	-59.7%	2,595,096

4 - Extraordinary result (VII-VIII)

		31/12/2009		31/12/2008		31/12/2007
Extraordinary result (Total VII-VIII)	HI	-445,671	-243.7%	-129,682	-151.7%	251,064

Profit or loss

		31/12/2009		31/12/2008		31/12/2007
Profit or loss	HN	923,448	32.1%	699,223	-64.6%	1,973,584

Total Income (I+III+V+VII)

		31/12/2009		31/12/2008		31/12/2007
Total Income (I+III+V+VII)	HL	28,227,139	-13.8%	32,761,249	-12.3%	37,375,079

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

		31/12/2009		31/12/2008		31/12/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	27,303,691	-14.8%	32,062,026	-9.4%	35,401,495

Operating income (I)

		31/12/2009		31/12/2008		31/12/2007
Total operating income (Total I)	FR	26,313,317	-16.8%	31,632,598	-11.9%	35,892,568

Operating income (details)

			31/12/2009		31/12/2008		31/12/2007
	Sale of goods for resale	FC	12,961,737	-31.3%	18,855,152	-2.5%	19,329,474
	France	FA	11,735,936	-28.1%	16,332,451	-2.3%	16,723,861
	Export	FB	1,225,801	-51.4%	2,522,701	-3.2%	2,605,613
	Sale of goods produced	FF	9,981,737	21.1%	8,240,190	-36.4%	12,953,177
	France	FD	9,037,757	26.6%	7,137,704	-36.3%	11,205,671
	Export	FE	943,980	-14.4%	1,102,486	-36.9%	1,747,506
	Sale of services	FI	3,282,690	-22.7%	4,248,876	-5.8%	4,510,247
	France	FG	3,156,435	-21.5%	4,021,221	-3.5%	4,168,629
	Export	FH	126,255	-44.5%	227,655	-33.4%	341,618
	Net turnover	FL	26,226,164	-16.3%	31,344,218	-14.8%	36,792,898
	France	FJ	23,930,128	-13.0%	27,491,376	-14.4%	32,098,161
	Export	FK	2,296,036	-40.4%	3,852,842	-17.9%	4,694,737
	Stocked production	FM	-837,140	-155.7%	-327,355	81.3%	-1,746,691
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	29,227	42.1%	20,574	-57.5%	48,357
	Release of reserves and provisions	FP	786,743	69.2%	465,103	-32.1%	685,443
	Other income	FQ	108,323	-16.7%	130,058	15.5%	112,560

Operating charges (II)

		31/12/2009		31/12/2008		31/12/2007
Total operating charges (Total II)	GF	25,866,829	-15.5%	30,612,210	-8.6%	33,494,739

Exploitation charges

		31/12/2009		31/12/2008		31/12/2007
Purchase of goods for resale	FS	9,683,932	-12.7%	11,098,406	-9.8%	12,298,788
Change in stocks of goods for resale	FT	12,954	35.0%	9,599	-74.3%	37,282
Purchase of raw materials	FU	1,120,241	-26.2%	1,518,862	-19.4%	1,884,027
Change in stocks of raw materials	FV	344,022	98.1%	173,672	245.1%	50,325
Other external purchases and charges	FW	7,128,222	-24.5%	9,443,614	-9.8%	10,475,339
Tax, duty and similar payments	FX	462,707	27.1%	363,946	-8.7%	398,796
Payroll	FY	4,554,746	-11.6%	5,150,442	-3.2%	5,319,545
Social security costs	FZ	1,774,369	-11.3%	2,000,769	-1.9%	2,038,537

Depreciation

		31/12/2009		31/12/2008		31/12/2007
Depreciation of fixed assets	GA	440,346	0.2%	439,480	-5.5%	465,078
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	46,728	-66.0%	137,516	150.6%	54,885
Provisions for risks and charges	GD	13,701	1272.8%	998	-97.4%	38,203

Other charges

		31/12/2009		31/12/2008		31/12/2007
Other charges	GE	284,861	3.6%	274,906	-36.6%	433,933

Operating charges (III-IV)

		31/12/2009		31/12/2008		31/12/2007
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2009		31/12/2008		31/12/2007
	Total financial income (Total V)	GP	1,310,144	42.6%	918,852	21.6%	755,822
	Share financial income	GJ	1,098,320	120.2%	498,680	0%	498,680
	Other investment income & capitalised receivables	GK	29	0%	29	0%	29
	Other interest and similar income	GL	54,647	146.9%	22,137	-68.5%	70,310
	Released provisions and transferred charges	GM	17,920	100.3%	8,948	76.3%	5,075
	Exchange gains	GN	73,215	-10.3%	81,588	917.6%	8,018
	Net income from disposal of investment securities	GO	66,013	-78.5%	307,469	77.0%	173,710

Financial Charge (VI)

			31/12/2009		31/12/2008		31/12/2007
	Total financial charge (Total VI)	GU	648,352	-27.5%	894,080	60.1%	558,555
	Financial reserves and provisions	GQ	201,613	-36.6%	317,920	3453.0%	8,948
	Interest and similar charges	GR	389,515	-26.5%	530,274	2.7%	516,455
	Exchange losses	GS	57,224	24.7%	45,886	38.4%	33,153
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2009		31/12/2008		31/12/2007
	Total extraordinary income (Total VII)	HD	603,678	187.7%	209,799	-71.1%	726,690
	Extraordinary operating income	HA	7,891	-83.4%	47,624	-54.1%	103,653
	Extraordinary income from capital transactions	HB	317,477	0%	0	0%	200,647
	Released provisions and transferred charges	HC	278,310	71.6%	162,175	-61.6%	422,389

Extraordinary charges (VIII)

			31/12/2009		31/12/2008		31/12/2007
	Total extraordinary charges (Total VIII)	HH	1,049,349	209.1%	339,481	-28.6%	475,626
	Extraordinary operating charges	HE	596,728	328.3%	139,316	3.7%	134,378
	Extraordinary charges from capital transactions	HF	177,630	104388.2%	170	-99.7%	67,525
	Extraordinary reserves and provisions	HG	274,991	37.5%	199,995	-26.9%	273,722

Employee profit sharing (IX)

		31/12/2009		31/12/2008		31/12/2007
Employee profit sharing (Total IX)	HJ	-327	-100.3%	118,595	-64.7%	335,677

Tax on profits (X)

		31/12/2009		31/12/2008		31/12/2007
Tax on profits (Total X)	HK	-260,512	-366.8%	97,660	-81.8%	536,899

References

		31/12/2009		31/12/2008		31/12/2007
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	162,304	0%	0	0%	170,612
Of which transferred charges	A1	119,902	3.9%	115,388	10.7%	104,265
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	OG	0	0%	13,197,185	4.0%	12,691,015
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	542,489	-79.0%	2,580,767
	Decreasess by budget item transfer	OK1	0	0%	121,547	-90.6%	1,299,128
	Decreasess by transfers	OK2	666,853	-8.8%	730,953	-5.7%	775,469
	Gross value at the end of period	OL	13,385,239	3.9%	12,887,174	-2.3%	13,197,185

Research and development Charge (Total I)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	KD	2,085,054	4.3%	1,998,297	-1.9%	2,036,392
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	13,218	-91.5%	155,383	377.8%	32,522
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	162,165	136.3%	68,626	-2.8%	70,617
	Gross value at the end of period	LW	1,936,107	-7.1%	2,085,054	4.3%	1,998,297

Tangible fixed assets (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	LN	7,794,362	-0.9%	7,862,420	2.2%	7,691,674
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	48,798	-87.3%	384,703	-82.3%	2,174,679
	Decreasess by budget item transfer	NG1	0	0%	121,547	-90.6%	1,299,128
	Decreasess by transfers	NG2	504,482	52.3%	331,213	-53.0%	704,806
	Gross value at the end of period	NH	7,338,678	-5.8%	7,794,362	-0.9%	7,862,420

Fiancial assets (Total IV)

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	LQ	3,007,757	-9.9%	3,336,468	12.6%	2,962,949
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	1,102,903	45796.9%	2,403	-99.4%	373,566
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	206	-99.9%	331,114	719713.0%	46
	Gross value at the end of period	NK	4,110,454	36.7%	3,007,757	-9.9%	3,336,468

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

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	0N	0	0%	5,071,556	-4.6%	5,314,376
Increases		0P	0	0%	439,480	-5.5%	465,078
Decreasess		0Q	0	0%	399,669	-43.5%	707,898
	Reserve for depreciation value at the end of period	0R	0	0%	5,111,367	0.8%	5,071,556

Research and development charge (Total I)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	PE	681,794	1.2%	673,565	1.5%	663,586
Increases		PF	66,027	-14.1%	76,855	-4.6%	80,596
Decreasess		PG	162,165	136.3%	68,626	-2.8%	70,617
	Decreasess by budget item transfer	PH	585,656	-14.1%	681,794	1.2%	673,565

Total fixed assets amotisation (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	QU	4,429,573	0.7%	4,397,991	-5.4%	4,650,789
Increases		QV	374,319	3.2%	362,625	-5.7%	384,483
Decreases		QW	329,812	-0.4%	331,043	-48.1%	637,281
	Decreasess by budget item transfer	QX	4,474,080	1.0%	4,429,573	0.7%	4,397,991

Movements during period affecting charge allocated over several period 

Charges à répartir ou frais d'émission d'emprunt

			31/12/2009		31/12/2008		31/12/2007
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2009		31/12/2008		31/12/2007
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	7C	4,330,199	3.2%	4,194,609	-13.1%	4,827,493
Increases		UB	537,033	-18.2%	656,429	74.7%	375,758
Decreases		UC	963,070	84.9%	520,839	-48.4%	1,008,643
	Value at the end of period	UD	3,904,162	-9.8%	4,330,199	3.2%	4,194,609

Includes Total allocations

Operating	UE	60,429	-56.4%	138,514	48.8%	93,088
Financial	UG	201,613	-36.6%	317,920	3453.0%	8,948
Exceptional	UJ	274,991	1275.3%	19,995	-92.7%	273,722

Includes Total Withdrawal

Operating	UF	666,841	90.7%	349,715	-39.8%	581,178
Financial	UH	17,920	100.3%	8,948	76.3%	5,075
Exceptional	UK	278,310	71.6%	162,175	-61.6%	422,389

Total regulated provisions (Total I)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	3Z	192,523	103.6%	94,555	17.6%	80,431
Increases		TS	47,067	-63.1%	127,715	99.3%	64,090
Decreases		TT	61,203	105.7%	29,747	-40.5%	49,965
	Value at the end of period	TU	178,387	-7.3%	192,523	103.6%	94,555

Total risk and charge provisions (Total II)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	5Z	526,463	-20.5%	662,140	-15.5%	783,611
Increases		TV	243,237	166.7%	91,198	-64.5%	256,783
Decreases		TW	235,392	3.8%	226,875	-40.0%	378,255
	Value at the end of period	TX	534,308	1.5%	526,463	-20.5%	662,140

Total Provision for depreciation (Total III)

			31/12/2009		31/12/2008		31/12/2007
	Value at begining of period	7B	3,611,213	5.0%	3,437,914	-13.3%	3,963,451
Increases		TY	246,728	-43.6%	437,516	697.2%	54,885
Decreases		TZ	666,476	152.2%	264,217	-54.5%	580,422
	Value at the end of period	UA	3,191,465	-11.6%	3,611,213	5.0%	3,437,914

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

		31/12/2009		31/12/2008		31/12/2007
Gross value	VT	9,444,533	-6.9%	10,144,707	-15.3%	11,973,456
1 year at most	VU	9,412,231	-4.0%	9,805,030	-15.9%	11,656,530
More than one year	VV	32,302	-90.5%	339,677	7.2%	316,926

State of loans

		31/12/2009		31/12/2008		31/12/2007
Claims related to holdings (gross)	UL	1,371,860	410.0%	268,991	-54.8%	595,531
Claims related to shareholdings (1 year at most)	UM	1,371,860	410.0%	268,991	-54.8%	595,531
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	32,302	0.1%	32,268	-6.3%	34,439
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2009		31/12/2008		31/12/2007
Customers doubtful or disputed	VA	260,039	-15.4%	307,409	8.8%	282,487
Other claims customer	UX	6,787,646	-21.6%	8,654,349	-10.5%	9,673,701
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	4,561	-24.5%	6,039	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	5,678
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	180,961	-15.7%	214,783	-4.6%	225,192
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	1,518	50500%	03	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	195,195	157.9%	75,690	-53.5%	162,890

Prepaid

		31/12/2009		31/12/2008		31/12/2007
Prepaid	VS	610,451	4.3%	585,173	-41.1%	993,537

State Debt

			31/12/2009		31/12/2008		31/12/2007
	Total debt (gross)	VY	14,344,106	-10.5%	16,022,335	-11.8%	18,157,486
1 year at most		VZ2	12,193,926	-5.2%	12,868,774	-11.5%	14,543,564
More than 1 year and 5 years at most		VZ3	1,509,464	-35.3%	2,333,602	-5.4%	2,466,055
More than 5 years		VZ4	640,716	-21.9%	819,959	-28.6%	1,147,867

Details

			31/12/2009		31/12/2008		31/12/2007
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	2,558,318	-24.3%	3,381,609	-4.5%	3,539,894
1 year at most		VH2	784,826	-3.1%	810,096	6.2%	762,863
More than 1 year and 5 years at most		VH3	1,132,776	-35.3%	1,751,554	-2.1%	1,789,205
	Loans and various financial liabilities (gross)	8A1	5,296,282	-11.9%	6,012,686	1.6%	5,916,769
1 year at most		8A2	4,919,594	-9.4%	5,430,638	3.6%	5,239,920
More than 1 year and 5 years at most		8A3	376,688	-35.3%	582,048	-14.0%	676,849
	Suppliers and associated accounts (gross)	8B1	3,398,836	-14.6%	3,980,624	-24.7%	5,288,848
1 year at most		8B2	3,398,836	-14.6%	3,980,624	-24.7%	5,288,848
More than 1 year and 5 years at most		8B3	3,398,836	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	866,326	-22.4%	1,116,615	-19.4%	1,386,004
1 year at most		8C2	866,326	-22.4%	1,116,615	-8.9%	1,225,963
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	630,248	-8.6%	689,445	-5.1%	726,723
1 year at most		8D2	630,248	-8.6%	689,445	-5.1%	726,723
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	298,883	146.2%	121,405	-66.5%	362,041
1 year at most		VW2	298,883	146.2%	121,405	-66.5%	362,041
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	140,546	-9.5%	155,286	-21.0%	196,477
1 year at most		VQ2	140,546	-9.5%	155,286	-21.0%	196,477
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	41,831	-3.1%	43,187	-72.6%	157,739
1 year at most		8J2	41,831	-3.1%	43,187	-72.6%	157,739
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	1,112,835	113.4%	521,478	-10.6%	582,991
1 year at most		8K2	1,112,835	113.4%	521,478	-10.6%	582,991
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2009		31/12/2008		31/12/2007
Loans made during the period	VJ	556,805	-73.8%	2,127,750	-32.1%	3,132,121
Debt repaid during the period	VK	2,096,499	-4.3%	2,190,118	-4.3%	2,288,562

Table allocation results and other information 
Dividends distributed

		31/12/2009		31/12/2008		31/12/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2009		31/12/2008		31/12/2007
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	1,679
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2009		31/12/2008		31/12/2007
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2009		31/12/2008		31/12/2007
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2009		31/12/2008		31/12/2007
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2009		31/12/2008		31/12/2007
Average number of employees	YP	167	0%	0	0%	208

Groups and Shareholders

		31/12/2009		31/12/2008		31/12/2007
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Fixed Asset Financing		2.03	-11.7%	2.30	-1.7%	2.34	1.96	3.6%
Global Debt		197 days	7.1%	184 days	3.4%	178 days	139 days	41.7%
Working Capital Fund overall net		189 days	-2.1%	193 days	11.6%	173 days	88 days	114.8%
Financial independence		154.40%	8.9%	141.77%	-8.3%	154.61%	148.69%	3.8%
Solvability		44.32%	0.4%	44.15%	2.3%	43.15%	37.84%	17.1%
Capacity debt futures		1545.28%	-6.0%	1644.05%	-14.2%	1916.63%	1585.45%	-2.5%
Coverage of current assets by net working capital overall		47.81%	-9.8%	52.98%	4.6%	50.65%	45.82%	4.3%
General Liquidity		0.77	1.3%	0.76	-5.0%	0.80	0.54	42.6%
Restricted Liquidity		1.53	-0.6%	1.54	-1.9%	1.57	0.89	71.9%

Management or rotation

		31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Need background in operating working capital		58 days	-21.6%	74 days	29.8%	57 days	40 days	45.0%
Treasury		127 days	10.4%	115 days	4.5%	110 days	6 days	2016.7%
Inventory turnover of goods		116 days	0%	116 days	10.5%	105 days	98.50 days	17.8%
Average length of credit granted to customers		97 days	-5.8%	103 days	6.2%	97 days	41 days	136.6%
Average length of credit obtained suppliers		67 days	4.7%	64 days	-16.9%	77 days	55 days	21.8%
Inventory turnover of raw materials in industrial enterprises		93 days	9.4%	85 days	-5.6%	90 days	119 days	-21.8%
Inventory turnover of intermediate and finished products in the industrial enterprise		357 days	-11.2%	402 days	-14.1%	468 days	707 days	-49.5%
Rotation tangible assets		357.37%	-11.1%	402.14%	-14.1%	467.96%	662.53%	-46.1%

Profitability of the business

		31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Margin trading		12.45%	-49.6%	24.72%	30.0%	19.01	0%	0%
Profitability of the business		1.29	-68.4%	4.08	-42.0%	7.04	4.08%	-68.4%
Net profit		3.52%	57.8%	2.23%	-58.4%	5.36%	2.45%	43.7%
Growth rate of turnover (excluding VAT)		-16.33%	-10.3%	-14.81%	-263.9%	-4.07%	-5.42%	-201.3%
Rates integration		27.07%	-3.3%	27.99%	0.0%	28%	36.05%	-24.9%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		89.15%	9.4%	81.52%	14.1%	71.43%	79.24%	12.5%
Weight interests		2.47	-13.3%	2.85%	87.5%	1.52%	0.55%	349.1%

Return on capital

		31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Cash flow from the overall profitability		2.81%	-22.4%	3.62%	-15.6%	4.29%	3.81%	-26.2%
Rates of economic profitability		2%	-66.7%	6%	-45.5%	11%	9%	-77.8%
Financial profitability		12127733%	-8.9%	13318419%	-8.9%	14621228%	28310%	42739.0%
Return on investment		7.87%	12.1%	7.02%	-33.3%	10.52%	7.87%	0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion 

	31/12/2009		31/12/2008		31/12/2007	Sector Median2009
Turnover	26,226,164	-16.3%	31,344,218	-14.8%	36,792,898	300,234 €	8635.2%

Sales of goods	12,961,737	-31.3%	18,855,152	-2.5%	19,329,474
- Purchase of goods	9,683,932	-12.7%	11,098,406	-9.8%	12,298,788
+/- Stock of goods variation	12,954	35.0%	9,599	-74.3%	37,282
Trading margin	3,264,851 €	-57.9%	7,747,147 €	10.8%	6,993,404 €	0 €	0%
	12.45 % CA	-49.6%	24.72 % CA	30.0%	19.01 % CA	0 % CA	0%

Sale of goods produced	13,264,427	6.2%	12,489,066	-28.5%	17,463,424
+/- Stocked production	-837,140	-155.7%	-327,355	81.3%	-1,746,691
+ Self-constructed assets	0	0%	0	0%	0
Period production	12,427,287 €	2.2%	12,161,711 €	-22.6%	15,716,733 €	171,223 €	7158.0%
	47.39 % CA	22.1%	38.80 % CA	-9.2%	42.72 % CA	98.90 % CA	-52.1%

Trading margin	3,264,851	-57.9%	7,747,147	10.8%	6,993,404	0	0%
+ Period Production	12,427,287	2.2%	12,161,711	-22.6%	15,716,733	171,223	7158.0%
- Purchase of raw materials	1,120,241	-26.2%	1,518,862	-19.4%	1,884,027
+/- Change in stocks of raw materiels	344,022	98.1%	173,672	245.1%	50,325
- Other external purchases and charges	7,128,222	-24.5%	9,443,614	-9.8%	10,475,339
Added value	7,099,653 €	-19.1%	8,772,710 €	-14.8%	10,300,446 €	118,483 €	5892.1%
	27.07 % CA	-3.3%	27.99 % CA	0.0%	28.00 % CA	36.02 % CA	-24.8%

Added value	7,099,653 €	-19.1%	8,772,710 €	-14.8%	10,300,446 €	118,483 €	5892.1%
+ Operating grants	29,227	42.1%	20,574	-57.5%	48,357
- Tax, duty and similar payments	462,707	27.1%	363,946	-8.7%	398,796
- Personal charges	6,329,115	-11.5%	7,151,211	-2.8%	7,358,082
Gross operating surplus	337,058 €	-73.6%	1,278,127 €	-50.7%	2,591,925 €	7,283 €	4528.0%
	1.29 % CA	-68.4%	4.08 % CA	-42.0%	7.04 % CA	4.01 % CA	-67.8%

Gross operating surplus	337,058 €	-73.6%	1,278,127 €	-50.7%	2,591,925 €	7,283 €	4528.0%
+ Release of reserves and provisions	786,743	69.2%	465,103	-32.1%	685,443
+ Other operating income	108,323	-16.7%	130,058	15.5%	112,560
- Depreciation/Amortisation	500,775	-13.4%	577,994	3.6%	558,166
- Other charges	284,861	3.6%	274,906	-36.6%	433,933
Operating result	446,488 €	-56.2%	1,020,388 €	-57.4%	2,397,829 €	3,834 €	11545.5%
	1.70 % CA	-47.9%	3.26 % CA	-50.0%	6.52 % CA	2.40 % CA	-29.2%

Operating result	446,488 €	-56.2%	1,020,388 €	-57.4%	2,397,829 €	3,834 €	11545.5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1,310,144	42.6%	918,852	21.6%	755,822
- Financial charges	648,352	-27.5%	894,080	60.1%	558,555
Pre-tax result	1,108,280 €	6.0%	1,045,160 €	-59.7%	2,595,096 €	2,621 €	42184.6%
	4.23 % CA	27.0%	3.33 % CA	-52.8%	7.05 % CA	1.70 % CA	148.8%

Extraordinary income	603,678	187.7%	209,799	-71.1%	726,690	100	603578.0%
- Extraordinary charges	1,049,349	209.1%	339,481	-28.6%	475,626
Extraordinary result	-445,671 €	-243.7%	-129,682 €	-151.7%	251,064 €	0 €	0%
	-1.70 % CA	-314.6%	-0.41 % CA	-160.3%	1 % CA	0 % CA	0%

Pre-tax result	1,108,280 €	6.0%	1,045,160 €	-59.7%	2,595,096 €	2,621 €	42184.6%
Extraordinary result	-445,671 €	-243.7%	-129,682 €	-151.7%	251,064 €	0 €	0%
- Employee profit sharing	-327	-100.3%	118,595	-64.7%	335,677
- Tax on profits	-260,512	-366.8%	97,660	-81.8%	536,899
Net result	923,448 €	32.1%	699,223 €	-64.6%	1,973,584 €	5,020 €	18295.4%
	3.52 % CA	57.8%	2.23 % CA	-58.4%	5.36 % CA	2.42 % CA	45.5%

Judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	27/05/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	BABY GIFT INTERNATIONAL SYSTEM
Direct parent	BABY GIFT INTERNATIONAL SYSTEM - Majoritaire
Group – Number of companies	4
Linkages – Number of companies	-
Number of countries	-

Group Structure

Company Name	SIREN	Parts	Last account published
BABY GIFT INTERNATIONAL SYSTEM	487503674	-	31/12/2008
GROUPE SALMON ARC EN CIEL	349773697	Majority	31/12/2009
ARC EN CIEL BOUTIQUE	387925985	Majority	31/12/2012
GSA HONG KONG	-	96%	-

Shareholders

Linkages

Ultimate parent company	BABY GIFT INTERNATIONAL SYSTEM
Direct parent	BABY GIFT INTERNATIONAL SYSTEM - Majoritaire
Group – Number of companies	4
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
25/02/2014	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 1280 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Administration : Président : CUNAUD Xavier Commissaire aux comptes titulaire : ERNST & YOUNG ATLANTIQUE (SAS) Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL Commissaire aux comptes suppléant : MACE François Commissaire aux comptes suppléant : PLOQUIN Frédéric. Capital : 4800048 EUR. Activité : .  Commentaires : Modification survenue sur le capital, l'administration et Fusion - L236-1 à compter du 01/01/2014 : Personne(s) morale(s) ayant participé à l'opération : ARC EN CIEL PRODUCTIONS, Société par actions simplifiée (SAS), 49 rue de Vendée 49450 VILLEDIEU LA BLOUERE (RCS ANGERS (4901) 325 330 033).
10/11/2013	Bodacc A	Vente et cession : Acheteur
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 642 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Sigle : GSA. Capital : 4800000 EUR. Adresse :49 rue de Vendée, 49450 Villedieu-la-Blouère.  Date de commencement de l’activité : 01/01/0001. Oppositions : Art.L.236-14 du code de commerce. Descriptif : Avis de projet de fusion projet de fusion entre : ARC EN CIEL PRODUCTIONS -Soci¿t¿ par actions simplifi¿e au capital de 864 000 euros, si¿ge social : 49 rue de Vend¿e 49450 Villedieu la Blou¿re rcs Angers 325330033 - et GROUPE SALMON ARC EN CIEL soci¿t¿ par actions simplifi¿e au capital de 4 800 000 euros - si¿ge social : 49 rue de Vend¿e 49450 Villedieu la Blou¿re - RCS Angers 349773697 avis de projet de fusion : Aux termes d'acte sous seing priv¿ en date ¿ Villedieu la Blou¿re du 25 octobre 2013, la soci¿t¿ ARC EN CIEL PRODUCTIONS et la soci¿t¿ GROUPE SALMON ARC EN CIEL ont ¿tabli le projet de leur fusion par voie d'absorption de la soci¿t¿ ARC EN CIEL PRODUCTIONS par la soci¿t¿ GROUPE SALMON ARC EN CIEL. La soci¿t¿ ARC EN CIEL PRODUCTIONS ferait apport ¿ la soci¿t¿ GROUPE SALMON ARC EN CIEL de la totalit¿ de son actif , soit 1 306 902,40 euros , ¿ charge de la totalit¿ de son passif , soit 1 245 954,11 euros. La Valeur nette des apports s'¿l¿verait ¿ 60 948,29 euros. la soci¿t¿ GROUPE SALMON ARC EN CIEL, d¿tenant 53 988 actions de la soci¿t¿ ARC EN CIEL PRODUCTIONS sur les 54 000 actions composant le capital de cette derni¿re, renonce ¿ ses droits dans sa propre augmentation de capital, qui ne s'¿l¿verait donc qu'¿ 64 euros. En r¿mun¿ration de l'apport net, 4 actions nouvelles de 16 euros de valeur nominale chacune, enti¿rement lib¿r¿es, seraient cr¿¿es, attribu¿es aux associ¿s de la soci¿t¿ absorb¿e autres que la soci¿t¿ absorbante. la prise de fusion s'¿l¿verait globalement ¿ 60 884,29 euros . Le rapport d'¿change des droits sociaux retenu sera fix¿ ¿ 1 action de la soci¿t¿ GROUPE SALMON ARC EN CIEL pour 3 actions de la soci¿t¿ ARC EN CIEL PRODUCTIONS La fusion est soumise ¿ la condition suspensive de l'approbation du projet de fusion par les assembl¿es g¿n¿rales extraordinaires des deux soci¿t¿s. Conform¿ment ¿ l'article L 236-6 du code de commerce , le projet de fusion a ¿t¿ d¿pos¿ au Greffe du Tribunal de Commerce d' Angers au nom des deux soci¿t¿s le 29 octobre 2013. Commentaires : Autre achat, apport, attribution.
31/01/2011	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 1167 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Capital : 4800000 EUR. Activité : L'achat, fabrication, confection, vente de tous articles de lingerie, de bonneterie, d'habillement, de puériculture, de couchage, jeux jouets pour enfants - la prise en location de tous fonds de commerce exerçant cette activité ........ La prise de participation par voie d'apport, d'achat . L'achat, la fabrication, la confection, la vente, la distribution, y compris l'importation et l'exportation, de tous articles de lingerie, de bonneterie, d'habillement, de puériculture, de couchage, de jeux, jouets pour enfants et de tous produits accessoires pouvant être Lies à l'environnement du bébé et des enfants.  Commentaires : Modification survenue sur l'activité et Fusion - L236-1 à compter du 13/12/2010 : Personne(s) morale(s) ayant participé à l'opération : SARL ARC EN CIEL DISTRIBUTIONS, Société à responsabilité limitée (SARL), 49 rue de la Vendée 49450 Villedieu la Blouère (RCS ANGERS (4901) 343 149 092) ARC EN CIEL MAILLE, Société par actions simplifiée (SAS), 49 rue de Vendée 49450 Villedieu-la-Blouère (RCS ANGERS (4901) 770 500 254).
08/09/2010	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 611 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Administration : Président : CUNAUD Xavier Commissaire aux comptes titulaire : ERNST & YOUNG ATLANTIQUE (SA) Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL Commissaire aux comptes suppléant : MACE François Commissaire aux comptes suppléant : PLOQUIN Frédéric.  Commentaires : Modification survenue sur l'administration.
23/09/2009	Bodacc C	Comptes annuels et rapports
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 4358 - 349773697 RCS. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Adresse : 49 rue de Vendée 49450 Villedieu-la-Blouère. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
29/10/2008	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 2665 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Administration : Président : CUNAUD Xavier. Commissaire aux comptes titulaire : SOCIETE EXCO ATLANTIQUE. Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL. Commissaire aux comptes suppléant : MACE François. Commissaire aux comptes suppléant : RAGUIN Jean-Luc.  Commentaires : Modification survenue sur l'administration.
14/10/2008	Bodacc C	Comptes annuels et rapports
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 5796 - 349773697 RCS. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Adresse : 49 rue de Vendée 49450 Villedieu-la-Blouère. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
09/04/2008	Bodacc B	Modification et mutation diverse
49 - MAINE-ET-LOIRE GREFFE DU TRIBUNAL DE COMMERCE D'ANGERS 306 - 349 773 697 RCS Angers. GROUPE SALMON ARC EN CIEL. Forme : Société par actions simplifiée. Administration : Président : CUNAUD Christian. Directeur général délégué : CUNAUD Xavier. Commissaire aux comptes titulaire : SOCIETE EXCO ATLANTIQUE. Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL. Commissaire aux comptes suppléant : MACE François. Commissaire aux comptes suppléant : RAGUIN Jean-Luc.  Commentaires : Modification survenue sur l'administration.
19/11/2007	Bodacc C	Avis de dépôt des comptes
6170 - 349 773 697. RCS Angers GROUPE SALMON ARC EN CIEL. Sigle: GSA Forme: Société par actions simplifiée. Adresse du siège social: 49 rue de Vendée 49450 Villedieu-la-Blouere. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
02/09/2006	Bodacc C	Avis de dépôt des comptes
3912 - RCS Angers B 349 773 697. RC 89-B 132. GROUPE SALMON ARC EN CIEL. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 49, rue de Vendee,49450 Villedieu-la-Blouere. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
02/09/2005	Bodacc C	Avis de dépôt des comptes
3378 - RCS Angers B 349 773 697. RC 89-B 132. GROUPE SALMON ARC EN CIEL. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: 49, rue de Vendée,Villedieu la Blouere, 49450 Saint-Macaire-en-MAUGES. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
13/09/2002	Bodacc B	Modifications et mutations diverses
RCS Angers B 349773697 RC 89-B 132 GROUPE SALMON ARC-EN-CIEL. Sigle : GSA. Forme : S.A.S. Capital : 4 800 000 euros. Adresse du siège social : 49 rue de Vendée, 49550 Villedieu-la-Blouère. Commentaires : modification survenue sur la forme juridique, l'adresse de l' établissement principal et l' administration. Fermeture de l' établissement complémentaire sis rue Bellevue, Saint-Lézin, 49120 Chemillé, à compter du 28 novembre 2001. Administration : président : CUNAUD ( Christian) ( Nom d'usage : CUNAUD). Commissaires aux comptes titulaires : STE EXCO ATLANTIQUE FIDUCIAIRE AUDIT CONSEIL. Commissaires aux comptes suppléants : MACE (François) ( Nom d' usage : MACE) RAGUIN (Jean, Luc) ( Nom d'usage : RAGUIN) Etablissement principal: Adresse : 49 rue de Vendée, 49550 Villedieu-la-Blouère. Date d'effet : 26 juin 2002.
15/03/2002	Bodacc B	Modifications et mutations diverses
RCS Angers B 349773697 RC 89-B 132 GROUPE SALMON ARC-EN-CIEL. Sigle : GSA. Forme : S.A. Capital : 4 800 000 euros. Adresse du siège social : 49 rue de Vendée, 49550 Villedieu-la-Blouère. Commentaires : modification survenue sur le capital (augmentation et conversion en euros) et l'administration. Administration : président du conseil d' administration : CUNAUD (Christian) ( Nom d'usage : CUNAUD). Administrateurs DELAUNE (Jean, Yves) ( Nom d'usage : DELAUNE) GONNORD (Yves) ( Nom d'usage GONNORD) SOULARD (Dominique) ( Nom d' usage : SOULARD) VIGNON (Philippe) ( Nom d'usage : VIGNON). Commissaires aux comptes titulaires : STE EXCO ATLANTIQUE FIDUCIAIRE AUDIT CONSEIL. Commissaires aux comptes suppléants : MACE (François) ( Nom d'usage : MACE) RAGUIN (Jean, Luc) ( Nom d'usage : RAGUIN). Date d'effet : 29 novembre 2001.
26/09/1999	Bodacc B	Modifications et mutations diverses
RCS Angers B 349773697 RC 89-B 132 GROUPE SALMON ARC-EN-CIEL. Sigle : G.S.A. Forme : S.A. Adresse du siège social : 49 rue de Vendée, 49550 Villedieu-la- Blouère. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : CUNAUD (Christian) ( Nom d'usage : CUNAUD). Administrateurs MARTIN (Claude) ( Nom d'usage : MARTIN) CATIMINI, représentée par SALMON (Paul) ( Nom d'usage : SALMON) DELAUNE ( Jean, Yves) ( Nom d'usage : DELAUNE) GONNORD (Yves) ( Nom d'usage : GONNORD) SOULARD (Dominique) ( Nom d'usage : SOULARD) VIGNON (Philippe) ( Nom d' usage : VIGNON). Commissaires aux comptes titulaires : RAGUIN (Michel) ( Nom d'usage : RAGUIN) GRAVIER (Jean) ( Nom d'usage : GRAVIER). Commissaires aux comptes suppléants : RAGUIN (Jean, Luc) ( Nom d'usage : RAGUIN) EXCO ATLANTIQUE. Date d'effet : 18 juin 1999.
10/10/1998	Bodacc B	Modifications et mutations diverses
RCS Angers B 349 773 697 RC 89-B 132 GROUPE SALMON ARC-EN-CIEL. Sigle : G.S.A. Forme : S.A. Capital : 30 000 000 de F. Adresse du siège social : 49 rue de Vendée 49550 Villedieu-la-Blouère. Administration : nouvel administrateur : VIGNON (Philippe). Date d'effet : 19 juin 1998.
18/10/1995	Bodacc B	Modifications et mutations diverses
RCS Angers B 349 773 697 RC 89-B 132 GROUPE SALMON ARC EN CIEL. Sigle : G.S.A. Forme : S.A. Capital : 30 000 000 de F ( fixe). Adresse du siège social : 49 rue de Vendée, 49550 Villedieu-la-Blouère. Administration : anciens administrateurs DELBECQ (Serge) et GRIMAUD (Joseph) nouveaux administrateurs : INSTITUT DE PARTICIPATIONS DE L'OUEST - IPO, représentée par : ROUAULT DE LA VIGNE ( François), GONNORD (Yves), SOULARD ( Dominique) nomination en qualité de commissaire aux comptes titulaire de GRAVIER (Jean) en remplacement de la société PETITEAU SCACCHI, représentée par : YZAMBART (Philippe) nomination en qualité de commissaire aux comptes suppléant de la société EXCO ATLANTIQUE en remplacement de ESTIVAL (Gérard). Date d'effet : 29 juin 1995.
11/03/1995	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Angers B 349 773 697 RC 89-B 132 GROUPE SALMON ARC-EN-CIEL. Sigle : G.S.A. Forme : S.A. Capital : 30 000 000 de F. Adresse : 49 rue de Vendée 49550 Villedieu-la- Blouère Nouvelle situation du siège social Extention d'activité: achat, fabrication, confection, vente de tous articles de lingerie, de bonneterie, d' habillement, de puériculture, de couchage, de jeux et de jouets pour enfants Extention d'objet social: achat, fabrication, confection, vente de tous articles de lingerie, de bonneterie, d' habillement, de puériculture, de couchage, de jeux et de jouets pour enfants. Commentaires : approbation du projet de fusion prévoyant l'absorption des sociétés ETS FRANCOIS SALMON, ARC- EN-CIEL DIFFUSION et G.M.S. par la STE GROUPE SALMON ARC-EN-CIEL - G.S.A. Date d'effet : 30 décembre 1994.

Company events history

Date	Description
03/01/2015	Update Rating
03/01/2015	Update Limit
04/10/2014	Update Rating
04/10/2014	Update Limit
01/08/2014	Disengagement in other companies
25/02/2014	Bodacc B: Various editing or changing
31/01/2014	Minutes of general meeting of shareholders
31/01/2014	Declaration of conformity
31/01/2014	Updated articles of association
31/01/2014	Capital increase
31/01/2014	Merger
09/01/2014	Update Limit
09/01/2014	Update Rating
23/12/2013	Audit or Management Report
10/11/2013	Bodacc A : Sale and transfer
04/11/2013	Update of Company Activity
04/11/2013	Modification of Company Activity
29/10/2013	Merger
29/10/2013	Planned merger
19/10/2013	Update Rating
19/10/2013	Update Limit
15/10/2013	Update Rating
28/09/2013	Update Rating
25/09/2013	Amendment
25/09/2013	Application and court order
02/08/2013	Update of participations in other companies
31/12/2012	Modification of Company Activity
31/12/2012	Update of Company Activity
10/12/2012	Audit or Management Report
25/11/2012	Bodacc A : Sale and transfer
08/09/2011	Modification of Company Activity
08/09/2011	Update of Company Activity
23/06/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
06/05/2011	Disengagement of the group
06/05/2011	Disengagement in other companies
06/05/2011	New parent detected
31/01/2011	Bodacc B: Various editing or changing
13/01/2011	Amendment
13/01/2011	Acte modificatif
13/01/2011	Updated articles of association
13/01/2011	Statuts mis à jour
13/01/2011	PV d'Assemblée
13/01/2011	Minutes of general meeting of shareholders
13/01/2011	Déclaration de conformité
13/01/2011	Declaration of conformity
13/01/2011	Modification de l'objet social
13/01/2011	Change to corporate purpose
13/01/2011	Fusion
13/01/2011	Merger
13/12/2010	Modification of Establishment Activity
03/11/2010	Merger
03/11/2010	Fusion
03/11/2010	Planned merger
03/11/2010	Projet de Fusion
08/09/2010	Bodacc B: Various editing or changing
02/08/2010	New auditor
02/08/2010	Changement de Commissaire aux Comptes
02/08/2010	PV d'Assemblée
02/08/2010	Minutes of general meeting of shareholders
02/03/2010	New subsidiarie(s) detected
02/03/2010	New ultimate parent
02/03/2010	New parent detected
01/01/2010	Formation of Establishment
31/12/2009	New accounts available
31/12/2009	Modification of Company Activity
31/12/2009	Update of Company Activity
23/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	Update of Company Workforce
31/12/2008	Update of Company Activity
31/12/2008	Modification of Company Activity
31/12/2008	New accounts available
29/10/2008	Bodacc B: Various editing or changing
29/10/2008	New Bodacc B ads detected
14/10/2008	Changement de Président (PDG, PCA)
14/10/2008	Bodacc C : Deposit accounts notice
14/10/2008	Appointment/resignation of company officers
14/10/2008	Private document
14/10/2008	New chairman (CEO, CoB)
14/10/2008	PV d'Assemblée
14/10/2008	Minutes of general meeting of shareholders
27/05/2008	Collection of preferential rights activated for this company
09/04/2008	Appointment/resignation of company officers
09/04/2008	Updated articles of association
09/04/2008	Statuts mis à jour
09/04/2008	Minutes of general meeting of shareholders
09/04/2008	Private document
09/04/2008	Bodacc B: Various editing or changing
09/04/2008	PV d'Assemblée
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
05/08/2002	Acte modificatif
05/08/2002	Rapport des Commissaires ou du Gérant
05/08/2002	Statuts mis à jour
05/08/2002	PV du Conseil d'Administration
05/08/2002	PV d'Assemblée
05/08/2002	Nomination/démission des organes de gestion
05/08/2002	Acte sous seing privé
05/08/2002	Changement de Forme Juridique avec changement de catégorie
05/08/2002	Changement de Forme Juridique sans changement de catégorie
25/02/2002	Changement de Commissaire aux Comptes
25/02/2002	Statuts mis à jour
25/02/2002	PV du Conseil d'Administration
25/02/2002	PV d'Assemblée
25/02/2002	Acte modificatif
25/02/2002	Acte sous seing privé
25/02/2002	Modification du Conseil d'Administration
25/02/2002	Conversion du Capital Social en Euros
25/02/2002	Augmentation de Capital
25/02/2002	Nomination/démission des organes de gestion
04/08/1999	Modification du Conseil d'Administration
04/08/1999	Nomination/démission des organes de gestion
04/08/1999	PV d'Assemblée
04/08/1999	Acte sous seing privé
04/09/1998	Modification du Conseil d'Administration
04/09/1998	Nomination/démission des organes de gestion
04/09/1998	Acte sous seing privé
04/09/1998	PV d'Assemblée
21/09/1995	Nomination/démission des organes de gestion
21/09/1995	PV d'Assemblée
21/09/1995	Changement de Commissaire aux Comptes
21/09/1995	Modification du Conseil d'Administration
07/02/1995	Modification de l'objet social
07/02/1995	Acte sous seing privé
07/02/1995	Statuts mis à jour
07/02/1995	Fusion
07/02/1995	Déclaration de conformité
07/02/1995	Acte modificatif
07/02/1995	PV d'Assemblée
22/12/1994	Acte modificatif
29/11/1994	Acte sous seing privé
29/11/1994	Projet de Fusion
29/11/1994	Acte modificatif
11/07/1994	Statuts mis à jour
11/07/1994	Augmentation de Capital
11/07/1994	PV d'Assemblée
11/07/1994	Acte modificatif
25/05/1994	Changement de Président (PDG, PCA)
25/05/1994	Modification du Conseil d'Administration
25/05/1994	PV d'Assemblée
25/05/1994	PV du Conseil d'Administration
25/05/1994	Acte modificatif
25/05/1994	Nomination/démission des organes de gestion
18/06/1993	Prorogation de durée
18/06/1993	Requête et Ordonnance
17/02/1993	Acte modificatif
17/02/1993	Modification du Conseil d'Administration
17/02/1993	PV du Conseil d'Administration
30/11/1992	PV d'Assemblée
30/11/1992	Modification du Conseil d'Administration
30/11/1992	PV du Conseil d'Administration
30/11/1992	Acte modificatif
14/11/1991	PV du Conseil d'Administration

Establishment events history

Date	Description
25/12/2014	Update of phone numbers
22/02/2014	Update of phone numbers
31/12/2012	Modification of Head office
08/10/2011	Update Limit
23/06/2011	Update Limit
06/05/2011	Update Rating
02/04/2011	Update Rating
07/01/2011	Update Rating
13/12/2010	Update of Establishment Address
13/12/2010	Modification of Head office Activity
13/12/2010	Update of Establishment Activity
09/11/2010	Update Rating
08/10/2010	Update Limit
03/09/2010	Update Rating
10/03/2010	Update Rating
01/01/2010	Modification of Head office
31/12/2009	Modification of Head office
04/09/2009	Update Limit
31/12/2008	Update of Establishment Workforce
31/12/2008	Modification of Head office
08/09/2008	Update Limit
08/09/2008	Update Rating
03/09/2008	Update Rating
14/04/2008	Update of phone numbers
13/01/2008	Update Limit
16/12/2007	Update Limit
09/12/2007	Update Limit
17/09/2007	Update Rating

Directors

Name	M. CUNAUD XAVIER
Manager position	President	Date of birth	01/12/1971
Place of birth	NANTES (44)
Type	Individual	Name at birth

Previous Directors

View the directors history for this company
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Manager position	Title and name	Date of Birth/Place of Birth
President	M CHRISTIAN CUNAUD	1/4/1945 - SAINT FULGENT
President	M XAVIER CUNAUD	12/1/1971 - NANTES
President	M XAVIER CUNAUD	12/1/1971 - NANTES (44)
Delegated managing director	M XAVIER CUNAUD	12/1/1971 - NANTES

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	ANK

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.