MIRA INFORM REPORT

Report No. :	311932
Report Date :	14.03.2015

IDENTIFICATION DETAILS

Name :	SOC D'IMPORTATION LECLERC

Registered Office :	Soc D'importation Leclerc 26 Quai Marcel Boyer 94200 Ivry Sur Seine

Country :	France

Financials (as on) :	31.12.2013

Date of Incorporation :	January 1979

Legal Form :	Cooperative public limited company with board of directors

Line of Business :	Fuel purchase plants

No. of Employee :	100 to 199

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	No complaints

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

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

SOC D'IMPORTATION LECLERC

Company summary

SIRET	315 281 113 00052
Name	SOC D'IMPORTATION LECLERC
Acronym	SIPLEC
Trade name	-
Type of Establishment	Head Office
Postal Address	SOC D'IMPORTATION LECLERC
	26 QUAI MARCEL BOYER
	94200 IVRY SUR SEINE
Telephone	01 49 87 50 00
Fax	01 49 87 50 00
Incorporation Date	03/1979	Nationality	France
APE/NAF Code	4612A	Currency	Euros
Activity (APE)	Fuel purchase plants	Last account Date	31/12/2013
Formation Date	01/1979	Variable Share Capital	975,673 Euros
Deregistration Date	-	Safe Number	FR00806327
EUR VAT Number	FR37315281113	Legal form	cooperative public limited company with board of directors
Court Registry Number	20 0 6B03014
Registration Court	Creteil (94)	RCS Registration	RCS Creteil 0 315 281 113

Key Financials

YEAR TO DATE	TURNOVER	GROSS OPERATING	SHAREHOLDER'S EQUITY NET RESULT		EMPLOYEES

31/12/2013	10,579,004,092€	0.72% Turnover	139,229,163 €	11,340,292 €	100 to 199
					employees
31/12/2011	9,634,656,869 €	0.58% Turnover	131,215,257 €	4,076,636	-
31/12/2010	7,856,776,177 €	0.99% Turnover	118,093,081 €	13,907,850 €	-

ULTIMATE HOLDING COMPANY

Name

Country

Company Number

SOCIETE D'IMPORTATION LECLERC

315281113

Directors

Current Directors

Preferential Right

No social security and tax office preferential right to date

Payment Information Summary Trade

Payment Data

Total number of Invoices available

Total number of Invoices paid within or up to 30 days after the due date

Total number of Invoices paid more than 30 days after the dues date

Total number of Invoices currently outstanding where the due date has not yet been reached

Total number of Invoices currently outstanding beyond the due date

Trends

Profitability

Liquidity

Net Worth

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	4612A	Activity	Fuel purchase plants
Formation Date	07/2006	Reason for Formation	Formation
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	-
Trading Address	26 QUAI MARCEL BOYER	Department
			Val-de-Marne (94)
	94200 IVRY SUR SEINE
Location Surface	-	District	1
City	IVRY SUR SEINE	Status	Economically active
Business Pages FT®	COMBUSTIBLES: FIOUL, BOIS, CHARBON, CHARBON DE BOIS	Region
			Ile-de-France
	(DETAIL)
		Area	95
		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
SOC D'IMPORTATION LECLERC	Fuel purchase plants	4612A	IVRY SUR SEINE	94200

Other Establishment(s)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity
Branches	1 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
SOC D'IMPORTATION LECLERC	Head Office	4612A	Fuel purchase plants	IVRY SUR SEINE	94200

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
SOC D'IMPORTATION LECLERC	Branch	511U	Centrales d'achats non alimentaires	PARIS 18	75018
SOC D'IMPORTATION LECLERC	Branch	511U	Centrales d'achats non alimentaires	ISSY LES MOULINEAUX	92130

Workforces

Workforce at address

Workforce unknown

Company workforce

100 to 199 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 ratio total assets to total liabilities is 1.14

High risk workforce size

The return on total assets employed is 0.93

The stock to turnover ratio is 2.71

Department code with low risk rating

Industry code with low risk rating

The company has 13 directors

The total assets are 1,148,517,024 €

The risk provisions are 10,599,455 €

The pre-tax profit is 10,697,222 €

The net turnover is 10,579,004,092 €

The net current assets are 1,102,167,162 €

The liabilities are 998,245,375 €

The decrease in the gearing percentage over the last two accounting periods is 34 %

The creditor days are 30.42

The sales to current assets ratio is 9.60

The shareholder's equity is 139,229,163 €

Collective procedures

No judgment information for the company

Preferential rights details and history

SUMMARY OF PREFERENTIAL RIGHTS

Company monitored since	03/04/2009
Status of Monitoring	No social security and tax office preferential right to date

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

Historical

Registration	Registration	Date of the	Creditor	Amount of	Due
number	date	planned end		the debt	remaining
					amount
31201856	18/04/2012	18/06/2012	REUNI RETRAITE CADRES	9,269 EUR	-
Reason for
	Crossed Off
closure
Court	Creteil
Description	Sommes dues au 30/11/2011
Creditor	REUNI RETRAITE CADRES
Debtor		SOCIETE DIMPORTATION LECLERC, SIPLEC
		26 quai Marcel Boyer 94200 IVRY SUR SEINE, FR
31203626	18/07/2012	08/04/2013	REUNI RETRAITE CADRES	1,129 EUR	-
Reason for
	Crossed Off
closure
Court	Creteil
Description	Sommes dues au 31/03/2012
Creditor	REUNI RETRAITE CADRES
Debtor		SOCIETE DIMPORTATION LECLERC, SIPLEC
		26 quai Marcel Boyer 94200 IVRY SUR SEINE, FR
31300068	16/01/2013	08/04/2013	REUNI RETRAITE CADRES	1,631 EUR	-
Reason for
	Crossed Off
closure
Court	Creteil
Description		Sommes dues au 31/08/2012
Creditor	REUNI RETRAITE CADRES
		154 RUE Anatole France 92300, LEVALLOIS PERRET
Debtor		SOCIETE DIMPORTATION LECLERC, SIPLEC
		26 quai Marcel Boyer 94200 IVRY SUR SEINE, FR

Group Data

Ultimate parent company	SOCIETE D'IMPORTATION LECLERC
Direct parent	-
Group - Number of companies	6
Linkages - Number of companies	-
Number of countries	-

NAME	SIREN	PARTS	LAST
			ACCOUNT
			PUBLISHED
SOC D'IMPORTATION LECLERC	315281113	-	31/12/2013
SOCIETE DE NEGOCE DE PRODUITS PETROLIE	344059605	100 %	31/12/2013
SOCIETE DE GESTION DE PRODUITS PETROLI	410268890	10 %	31/12/2013
ENTREPOT PETROLIER DE LA GIRONDE	380166975	34 %	31/12/2013
SOCIETE DES DEPOTS DE PETROLE COTIERS	775673981	14 %	31/12/2013
ENTREPOT PETROLIER DE DIJON	713000941	19.50 %	31/12/2013
SA GESTION SECURITE DE STOCKS SECURITE	344547708	12.11 %	31/12/2013
SOCIETE EUROPEENNE DE STOCKAGE	304575194	4.80 %	31/12/2012
SOC PETROLIERE VAL MARNE ABREV SPVM	353027105	20 %	31/12/2013
SOC COOP APPROVISIONNEMENT PARIS NORD	718200611	6.76 %	31/12/2013
CEDILEC	387606569	100 %	31/12/2013
CENTRA APPROVI CHARENT POITOU	309599165	7 %	-
SOC COOP D'APPROVISIONNEMENT RHONE ALP	305635583	5 %	31/12/2013
SIPLEC INTERNATIONAL LTD	-	90 %	-
SODIPLEC	352222368	94 %	31/12/2013
COOPERATIVE D'APPROVISIONNEMENT NORMAN	319493953	5 %	31/12/2013
SOC CENTRALE APPROVISION SUD OUEST	596950139	5 %	31/12/2013

Shareholders

Type of shareholders

Company : 33.15%

Undefined : 66.85%

SHAREHOLDERS

SOCIETE COOPERATIVE D'APP... : 9.3%

SOCIETE CENTRALE D'APPROV... : 7.25%

SOCIETE CENTRALE D'APPROV... : 6%

SOCIETE COOPERATIVE D'APP... : 5%

SOCIETE COOPERATIVE D'APP... : 5.6%

Undefined : 66.85%

SOCIETE COOPERATIVE D'APPROVISIONNEMENT DE L'OUEST	SOCIETE CENTRALE D'APPROVISIONNEMENT CHARENTES POITOU
SOCIETE CENTRALE D'APPROVISIONNEMENT DE L'ARMORIQUE	SOCIETE COOPERATIVE D'APPROVISIONNEMENT DE L'ILE DE FRANCE
SOCIETE COOPERATIVE D'APPROVISIONNEMENT NORMANDE	Undefined

Linkages

No Linkages information available for the company.

Shareholder(s)

Name	SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC
Name of representative	M HUET OLIVIER
Manager position	Administrator	Date of birth	07/04/1971
Place of birth	CHARTRES
Type	Moral person	Name at birth

Director(s)

Name	M. DUCATEL OLIVIER
Manager position	Administrator, Delegated	Date of birth
			21/11/1965
	managing director
Place of birth	LE MANS
Type	Individual	Name at birth
Name	M. PENICAUD JEAN-CLAUDE
Manager position	Administrator	Date of birth	02/01/1961
Place of birth	LA ROCHELLE
Type	Individual	Name at birth
Name	M. DUVEAU VINCENT
Manager position	Administrator, Delegated	Date of birth
			05/05/1957
	managing director
Place of birth	NEUILLY SUR SEINE
Type	Individual	Name at birth
Name	M. RABE HERVÉ
Manager position	Delegated managing director,	Date of birth
			22/10/1967
	Administrator
Place of birth	BREST
Type	Individual	Name at birth
Name	M. GRUAU PASCAL
Manager position	Administrator, Delegated	Date of birth
			12/11/1959
	managing director
Place of birth	MONACO(MONACO)
Type	Individual	Name at birth
Name	Mme. LARDEYRET CATHERINE
Manager position	Delegated managing director	Date of birth	09/11/1969
Place of birth	LA FERTE BERNARD
Type	Individual	Name at birth	BRAULT
Name	Mme. CUNTZMANN RÉGINE
Manager position	Managing director, Chairman of	Date of birth
			09/10/1958
	the Board
Place of birth	STRASBOURG
Type	Individual	Name at birth	COURTOIS

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Chairman of the Board	M. PICARD DENIS	12/06/1955 - CHATEAU RENAULT
Chairman of the Board	M. PICARD DENIS	12/06/1955 - CHATEAU-RENAULT
Managing director	M. PICARD DENIS	12/06/1955 - CHATEAU RENAULT
Managing director	M. PICARD DENIS	12/06/1955 - CHATEAU-RENAULT
Delegated managing director	MME. COURTOIS REGINE	09/10/1958 - STRASBOURG
Delegated managing director	MME. CUNTZMANN REGINE	09/10/1958 - STRASBOURG
Delegated managing director	Mme. CUNTZMANN RÉGINE	09/10/1958 - STRASBOURG
Delegated managing director	M. GORI JEAN-PIERRE	19/04/1956 - HAYANGE
Delegated managing director	M. GRUAU PASCAL	12/11/1959 - MONACO
Delegated managing director	M. LECUREUX CHRISTOPHE	19/03/1960 - SAINTE FOY LES LYON
Delegated managing director	M. LECUREUX CHRISTOPHE	19/03/1960 - STE FOY LES LYON
Delegated managing director	M. PAYRAUDEAU MARC	14/12/1962 - NANTES
Delegated managing director	M. VILLAT THIERRY	02/09/1949 - RUFFEC
Administrator	M. BELOOSSOFF ERIC	-
Administrator	M. BELOOSSOFF ERIC	15/07/1955 - MARMANDE
Administrator	M. BUSSOLINI JEAN	-
Administrator	M. BUSSOLINI JEAN MARC	17/02/1960 - LE CANNET
Administrator	MME. COURTOIS REGINE	09/10/1958 - STRASBOURG
Administrator	MME. CUNTZMANN REGINE	09/10/1958 - STRASBOURG
Administrator	Mme. CUNTZMANN RÉGINE	09/10/1958 - STRASBOURG
Administrator	M. DUCATEL OLIVIER	-
Administrator	M. EXMELIN JEAN	-
Administrator	M. EXMELIN JEAN JACQUES	25/12/1947 - HOULGATE
Administrator	M. GORI JEAN-PIERRE	19/04/1956 - HAYANGE
Administrator	M. GRUAU PASCAL	12/11/1959 - MONACO
Administrator	GUITTARD DOMINIQUE	-
Administrator	M. GUITTARD DOMINIQUE	08/01/1954 - AULNAY SOUS BOIS
Administrator	M. JAUD HERVE	-
Administrator	M. JAUD HERVÉ	05/07/1964 - LES ESSARTS

Manager position	Title and name	Date of Birth/Place of Birth
Administrator	M. LECUREUX CHRISTOPHE	19/03/1960 - SAINTE FOY LES LYON

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
06/02/2015	JAL	Appointment of the social representative
06/02/2015	JAL	Resignation / Revocation of the social representative

Date de decision : 02/02/2015

La societe 315281113 - SOC DIMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE

Fait I'objet du depart de Monsieur Regime CUNTZMANN,

De Monsieur Regime CUNTZMANN,

De Monsieur Pascal GRUAU,

De Monsieur Olivier DUCATEL,

De Monsieur Herve RABE,

De Monsieur Vincent DUVEAU,

De SC GALEC, 26 Quai Marcel-Boyer, 94200, IVRY SUR SEINE,

De Monsieur Jean-Claude PENICAUD,

De Monsieur Pascal GRUAU,

De Monsieur Olivier DUCATEL,

De Monsieur Herve RABE,

De Monsieur Vincent DUVEAU,

De Catherine LARDEYRET

12/09/2014 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

1782 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Sigle: SIPLEC. Administration : Fonde de pouvoir a procuration generale : LECLERC Michel Administrates : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par HUET Olivier modification le 04 Septembre 2014 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles President du conseil d'administration Directeur general : COURTOIS Regine modification le 17 Octobre 2011 Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Directeur general delegue Administrateur : DUCATEL Olivier modification le 17 Octobre 2011 Directeur general delegue Administrateur : DUVEAU Vincent en fonction le 17 Octobre 2011 Administrateur : PENICAUD Jean-Claude en fonction le 17 Octobre 2011 Directeur general delegue Administrateur : RABE Herve modification le 21 Janvier 2014 Directeur general delegue Administrateur : GRUAU Pascal modification le 02 Fevrier 2012 Directeur general delegue : BRAULT Catherine modification le 22 Janvier 2014. Activite: . Commentaires: Modification de representant.

31/07/2014 Bodacc C Comptes consolides et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

13434 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Adresse : 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2013.

31/07/2014 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

13433 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Adresse : 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2013.

10/07/2014 JAL Resignation / Revocation of the social representative

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France

Date de decision : 23/06/2014

La societe 315281113 - SOC D'IMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE Fait I'objet du depart de Monsieur Daniel TAILLANDIER, De Monsieur Marc PAYRAUDEAU

29/01/2014 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

4095 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Sigle: SIPLEC. Administration : Fonde de pouvoir a procuration generale : LECLERC Michel Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par JAUD Herve modification le 17 Octobre 2011 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles President du conseil d'administration Directeur general : COURTOIS Regine modification le 17 Octobre 2011 Administrateur : PAYRAUDEAU Marc modification le 17 Octobre 2011 Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Directeur general delegue Administrateur : DUCATEL Olivier modification le 17 Octobre 2011 Administrateur : TAILLANDIER Daniel en fonction le 29 Juillet 2009 Directeur general delegue Administrateur : DUVEAU Vincent en fonction le 17 Octobre 2011 Administrateur : PENICAUD Jean-Claude en fonction le 17 Octobre 2011 Directeur general delegue Administrateur : RABE Herve modification le 21 Janvier 2014 Directeur general delegue Administrateur : GRUAU Pascal modification le 02 Fevrier 2012 Directeur general delegue : BRAULT Catherine en fonction le 21 Janvier 2014. Activite: . Commentaires: Modification de representant

03/01/2014 JAL Resignation / Revocation of the social representative

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France

Date de decision : 16/12/2013

La societe 315281113 - SOC D'IMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE Fait I'objet du depart de Monsieur Christophe LECUREUX, De Monsieur Jean-Pierre GORI

03/01/2014 JAL Appointment of the social representative

Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France

Date de decision : 16/12/2013

Societe faisant I'objet d'une nomination : 315281113 - SOC D'IMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE Nomine: Monsieur Vincent DUVEAU Nomine: Monsieur Olivier DUCATEL Nomine: Monsieur Pascal GRUAU Nomine: Monsieur Herve RABE

Nomine: Madame Catherine LARDEYRET, 78770 GOUPILLIERES

18/08/2013 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

- 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Adresse : 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2012.

18/08/2013 Bodacc C Comptes consolides et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

21/08/2012 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

21/08/2012 Bodacc C Comptes annuels, consolides et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

03/02/2012 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

1946 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe cooperative a forme anonyme a capital variable. Sigle: SIPLEC. Administration : Fonde de pouvoir a procuration generale : LECLERC Michel Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par JAUD Herve modification le 17 Octobre 2011 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles President du conseil d'administration et directeur general : COURTOIS Regine modification le 17 Octobre 2011 Administrateur : PAYRAUDEAU Marc modification le 17 Octobre 2011 Directeur general delegue et administrateur : LECUREUX Christophe Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Directeur general delegue et administrateur : DUCATEL Olivier modification le 17 Octobre 2011 Administrateur : TAILLANDIER Daniel en fonction le 29 Juillet 2009 Directeur general delegue et administrateur : DUVEAU Vincent en fonction le 17 Octobre 2011 Administrateur : PENICAUD Jean-Claude en fonction le 17 Octobre 2011 Administrateur : RABE Herve en fonction le 17 Octobre 2011 Directeur general delegue et administrateur : GORI Jean-Pierre en fonction le 17 Octobre 2011 Directeur general delegue et administrateur : GRUAU Pascal en fonction le 26 Janvier 2012.

Activite : .

Commentaires: Modification de representant.
25/10/2011 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

2031 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a conseil d'administration a capital variable. Sigle : SIPLEC. Administration : Fonde de pouvoir a procuration generale : LECLERC Michel Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par JAUD Herve modification le 17 Octobre 2011 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles President du conseil d'administration et directeur general : COURTOIS Regine modification le 17 Octobre 2011 Administrateur : JAUD Herve Administrateur : PAYRAUDEAU Marc modification le 17 Octobre 2011 Directeur general delegue et administrateur : LECUREUX Christophe Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Directeur general delegue et administrateur : DUCATEL Olivier modification le 17 Octobre 2011 Administrateur : TAILLANDIER Daniel en fonction le 29 Juillet 2009 Directeur general delegue et administrateur : VILLAT Thierry en fonction le 04 Mars 2010 Directeur general delegue et administrateur : DUVEAU Vincent en fonction le 17 Octobre 2011 Administrateur : PENICAUD Jean-Claude en fonction le 17 Octobre 2011 Administrateur : RABE Herve en fonction le 17 Octobre 2011 Directeur general delegue et administrateur : GORI Jean-Pierre en fonction le 17 Octobre 2011. Activite: . Commentaires: Modification de representant.

19/08/2010 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

- 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a conseil d'administration a capital variable. Adresse: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2009.

19/08/2010 Bodacc C Comptes annuels, consolides et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

16/03/2010 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

2788 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Sigle: SIPLEC. Administration : Administrateur : BELOOSSOFF Eric Fonde de pouvoir a procuration generale : LECLERC Michel Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par FEBVRE Serge modification le 16 Juillet 2009 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles Directeur general delegue et administrateur : COURTOIS Regine Administrateur : EXMELIN Jean Jacques Administrateur : JAUD Herve Administrateur : BUSSOLINI Jean Marc Directeur general delegue et administrateur : PAYRAUDEAU Marc Directeur general delegue et administrateur : LECUREUX Christophe President du conseil d'administration et directeur general : PICARD Denis Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Administrateur : DUCATEL Olivier en fonction le 18 Septembre 2007 Administrateur : GUITTARD Dominique en fonction le 19 Fevrier 2009 Administrateur : TAILLANDIER Daniel en fonction le 29 Juillet 2009 Directeur general delegue et administrateur : VILLAT Thierry en fonction le 04 Mars 2010. Commentaires: Modification de representant.

23/12/2009 JAL Appointment of the social representative

LES PETITES AFFICHES

Societe faisant objet d'une nomination : 315281113 - SOC D'IMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE Nomine: Monsieur Thiery VILLAT, RUE RUE JEAN PHILIPPE RAMEAU, CHEZ SODISUR, BP 71, 17700 SURGERES En la fonction de: Directeur general delegue

23/12/2009 JAL Appointment of the social representative

LES PETITES AFFICHES

Societe faisant objet d'une nomination : 315281113 - SOC D'IMPORTATION LECLERC, SIPLEC, 26 QUAI MARCEL BOYER, 94200 IVRY SUR SEINE Nomine: Monsieur Thierry VILLAT, RUE RUE JEAN PHILIPPE RAMEAU, CHEZ SODISUR, BP 71, 17700 SURGERES En la fonction de: Administrateur

07/10/2009 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

10490 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Adresse: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2008.

14/08/2009 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

8688 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Adresse: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2008.

06/08/2009 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

1054 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Sigle: SIPLEC. Administration : Administrateur : BELOOSSOFF Eric Fonde de pouvoir a procuration generale : LECLERC Michel Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D ACHATS DES CENTRES LECLERC represente par FEBVRE Serge modification le 16 Juillet 2009 Commissaire aux comptes titulaire : AMYOT EXCO Commissaire aux comptes suppleant : HENGOAT Gilles Directeur general delegue et administrateur : COURTOIS Regine Administrateur : EXMELIN Jean Jacques Administrateur : JAUD Herve Administrateur : BUSSOLINI Jean Marc Directeur general delegue et administrateur : PAYRAUDEAU Marc Directeur general delegue et administrateur : LECUREUX Christophe President du conseil d'administration et directeur general : PICARD Denis Commissaire aux comptes suppleant : JUVENTIN Chantal Commissaire aux comptes titulaire : COGEPARC Administrateur : DUCATEL Olivier en fonction le 18 Septembre 2007 Administrateur : GUITTARD Dominique en fonction le 19 Fevrier 2009 Administrateur : TAILLANDIER Daniel en fonction le 29 Juillet 2009. Commentaires: Modification de representant.

19/07/2009 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

1851 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Sigle: SIPLEC. Administration : Administrateur : BELOOSSOFF Eric. Fonde de pouvoir a procuration generale : LECLERC Michel. Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D'ACHATS DES CENTRES LECLERC represente par FEBVRE Serge modification le 09 Juillet 2009. Commissaire aux comptes titulaire : AMYOT EXCO. Commissaire aux comptes suppleant : HENGOAT Gilles. Directeur general delegue et administrateur : COURTOIS Regine. Administrateur : MARTY Jean Paul. Administrateur : EXMELIN Jean Jacques. Administrateur : JAUD Herve. Administrateur : BUSSOLINI Jean Marc. Directeur general delegue et administrateur : PAYRAUDEAU Marc. Directeur general delegue et administrateur : LECUREUX Christophe. President du conseil d'administration et directeur general : PICARD Denis. Commissaire aux comptes suppleant : JUVENTIN Chantal. Commissaire aux comptes titulaire : COGEPARC. Administrateur : DUCATEL Olivier en fonction le 18 Septembre 2007. Administrateur : GUITTARD Dominique en fonction le 19 Fevrier 2009. Commentaires: Modification de representant.

03/03/2009 Bodacc B Modification et mutation diverse

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

1864 - 315 281 113 RCS Creteil. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Sigle: SIPLEC. Administration : Administrateur : BELOOSSOFF Eric. Fonde de pouvoir a procuration generale : LECLERC Michel. Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D'ACHATS DES CENTRES LECLERC represente par GATTEPAILLE Jacques. Commissaire aux comptes titulaire : AMYOT EXCO. Commissaire aux comptes suppleant : HENGOAT Gilles. Directeur general delegue et administrateur : COURTOIS Regine. Administrateur : MARTY Jean Paul. Administrateur : EXMELIN Jean Jacques. Administrateur : JAUD Herve. Administrateur : BUSSOLINI Jean Marc. Directeur general delegue et administrateur : PAYRAUDEAU Marc. Directeur general delegue et administrateur : LECUREUX Christophe. President du conseil d'administration et directeur general : PICARD Denis. Commissaire aux comptes suppleant : JUVENTIN Chantal. Commissaire aux comptes titulaire : COGEPARC. Administrateur : DUCATEL Olivier en fonction le 18 Septembre 2007. Administrateur : GUITTARD Dominique en fonction le 19 Fevrier 2009. Commentaires: Modification de representant.

29/07/2008 Bodacc C Comptes annuels et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

8971 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Adresse: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2007.

29/07/2008 Bodacc C Comptes consolides et rapports

94 - VAL-DE-MARNE

GREFFE DU TRIBUNAL DE COMMERCE DE CRETEIL

8972 - 315281113 RCS. SOCIETE D'IMPORTATION LECLERC. Forme: Societe anonyme cooperative a capital variable. Adresse: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Commentaires: Comptes annuels et rapports de l'exercice clos le : 31/12/2007.

30/11/2007 Bodacc C Avis de depot des comptes

11192 - 315 281 113. RCS Creteil SOCIETE D'IMPORTATION LECLERC. Sigle: SIPLEC Forme: Societe anonyme cooperative a capital variable. Adresse du siege social: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Comptes consolides et rapport de l'exercice clos le: 31 decembre 2006.

18/10/2007 Bodacc B Modifications et mutations diverses

4172 - RCS Creteil B 315 281 113. RC 06-B 3014. SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l'administration. Administration : directeur general delegue et administrateur partant : LESOUDIER (Ludovic). Nomination d'un administrateur : DUCATEL (Olivier).

30/08/2007 Bodacc C Avis de depot des comptes

7650 - 315 281 113. RCS Creteil SOCIETE D'IMPORTATION LECLERC. Sigle: SIPLEC Forme: Societe anonyme cooperative a capital variable. Adresse du siege social: 26 quai Marcel Boyer 94200 Ivry-sur-Seine. Comptes annuels et rapports de l'exercice clos le: 31 decembre 2006.

31/08/2006 Bodacc C Avis de depot des comptes

- RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Forme: COOPERATIVE A CAPITAL VARIABLE (SOCIETE ANONYME). Adresse du siege social: 52, rue Camille Desmoulins,92130 Issy-les-Moulineaux. Comptes annuels et rapports de l'exercice clos le: 31 decembre 2005.

31/08/2006 Bodacc C Avis de depot des comptes

- RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Forme: COOPERATIVE A CAPITAL VARIABLE (SOCIETE ANONYME). Adresse du siege social: 52, rue Camille Desmoulins,92130 Issy-les-Moulineaux. Comptes consolides et rapport de l'exercice clos le: 31 decembre 2005.

29/08/2006 Bodacc B Modifications et mutations diverses

4222 - RCS B 315 281 113. RC 06-B 3014. SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Capital : 975 673,71 euros. Adresse du siege social : 26 quai Marcel-Boyer, 94200 Ivry-sur-Seine. Administration : administrateurs : GOBILLOT (Michel) BELOOSSOFF (Eric). Fonde de pouvoir a procuration generale : LECLERC (Michel). Administrateur : SOCIETE COOPERATIVE GROUPEMENTS D'ACHATS DES CENTRES LECLERC, representee par GATTEPAILLE (Jacques). Commissaire aux comptes titulaire : AMYOT EXCO. Commissaire aux comptes suppleant : HENGOAT (Gilles). Directeurs generaux delegues et administrateurs : COURTOIS (Regine) (Nom d'usage : CUNTZMANN) LESOUDIER (Ludovic). Administrateurs : MARTY (Jean, Paul) EXMELIN (Jean, Jacques) JAUD (Herve) BUSSOLINI (Jean, Marc). Directeurs generaux delegues et administrateurs : PAYRAUDEAU (Marc) LECUREUX (Christophe). President du conseil d'administration et directeur general : PICARD (Denis). Commissaire aux comptes suppleant : JUVENTIN (Chantal) (Nom d'usage : SOPENA). Commissaire aux comptes titulaire : COGEPARC. Etablissement principal - Activite : importation de produits petroliers et de produits divers. Adresse : 26 quai Marcel-Boyer, 94200 Ivry-sur-Seine. Commentaires : cette societe transfere son siege du 52 rue Camille-Desmoulins, 92130 Issy-les-Moulineaux. Date d'effet : 1er juillet 2006.

20/08/2006 Bodacc B Modifications et mutations diverses

2402 - RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes suppleant partant : HEBETTE (Michel). Nomination d'un commissaire aux comptes suppleant : JUVENTIN (Chantal) (Nom d'usage : SOPENA).

27/10/2005 Bodacc B Modifications et mutations diverses

1693 - RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l'administration. Administration : P.-D.G. partant : PAYRAUDEAU (Michel, Constant, Pierre). Directeur general et administrateur partant : LE GUIL (Pierre). Administrateur partant : HUET (Jean, Maurice). Modification d'un directeur general delegue et administrateur : COURTOIS (Regine) (Nom d'usage : CUNTZMANN). Nomination de directeurs generaux delegues et administrateurs : PAYRAUDEAU (Marc) LECUREUX (Christophe). Nomination du president du conseil d'administration et directeur general : PICARD (Denis).

25/08/2005 Bodacc C Avis de depot des comptes

- RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Forme: COOPERATIVE A CAPITAL VARIABLE (SOCIETE ANONYME). Adresse du siege social: 52, rue Camille Desmoulins,92130 Issy-les-Moulineaux. Comptes consolides et rapport de l'exercice clos le: 31 decembre 2004.

06/02/2005 Bodacc B Modifications et mutations diverses

1927 - RCS Nanterre B 315 281 113. RC 93-B 1283. SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l'administration. Administration : administrateurs partants : BROUARD (Gilles, Henri, Lilian) DE PASCALIS (Mario). Nomination d'administrateurs : JAUD (Herve) BUSSOLINI (Jean, Marc).

28/10/2004 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l' administration. Administration : modification d'un administrateur : HUET (Jean, Maurice). Modification d'un directeur general delegue et administrateur : LESOUDIER (Ludovic).

09/11/2003 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l' administration. Administration : vice- president partant : LEVIEUX (Francois), deja administrateur. Administrateur partant : MERLE (Jean-Pierre). Nomination d'administrateurs : LESOUDIER (Ludovic) MARTY (Jean-Paul) EXMELIN (Jean-Jacques) DE PASCALIS ( Mario).

03/10/2003 Bodacc B Modifications et mutations diverses

18/09/2003 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l' administration. Administration : directeur general partant : LEVIONNAIS ( Didier, Marie, Jacques). Nomination d' un directeur general delegue et administrateur : PICARD (Denis).

19/04/2002 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l' administration. Administration : administrateur partant : FEBVRE (Marie- Noelle) ( Nom d'usage : EPTON). Nomination d'administrateurs : COURTOIS (Regine) ( Nom d'usage : CUNTZMANN) COURTOIS (Regine) ( Nom d'usage : CUNTZMANN).

19/10/2000 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : societe cooperative anonyme et a capital variable. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : BACQUET (Andre). Nomination du commissaire aux comptes titulaire : AMYOT EXCO. Modification du commissaire aux comptes titulaire : COGEPARC. Commissaire aux comptes suppleant partant : CHAROY (Bernard). Modification du commissaire aux comptes suppleant : HEBETTE (Michel). Nomination du commissaire aux comptes suppleant : HENGOAT (Gilles).

14/05/2000 Bodacc B Modifications et mutations diverses

RCS Nanterre B 315281113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l' administration. Administration : directeur general et administrateur partant : GATTEPAILLE (Jacques). Modification des directeurs generaux et administrateurs : HUET (Jean, Maurice) LEVIONNAIS (Didier, Marie, Jacques).

02/03/2000 Bodacc B Modifications et mutations diverses

*. RCS Nanterre B 315 281 113 RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : S.I.P.L.E.C. Forme : S.A. cooperative a capital variable. Commentaires : modification survenue sur l'administration. Administration : nomination en qualite d'administrateurs FEBVRE (Marie-Noelle), ( nom d'usage : EPTON) LEVIONNAIS (Didier, Marie, Jacques) HUET (Jean, Maurice) BROUARD (Gilles, Henri, Lilian).

28/02/1999 Bodacc B Modifications et mutations diverses

23/09/1997 Bodacc B Modifications et mutations diverses

RCS *. RCS Nanterre B 315 281 113 RC RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : SIPLEC. Forme : S.A. cooperative a capital variable. Administration : suppression : administrateur : LANDAIS (Jean-Claude). Nomination en qualite d' administrateurs : SOCIETE COOPERATIVE GROUPEMENTS D'ACHATS DES CENTRES LECLERC SCAMARK. Commentaires : modification survenue sur l' administration.

14/03/1997 Bodacc B Modifications et mutations diverses

RCS *. RCS Nanterre B 315 281 113 RC RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : S.I.P.L.E.C. Forme : S.A. cooperative a capital variable. Administration : modification : directeur general et administrateur : GATTEPAILLE (Jacques). Commentaires : modification survenue sur l' administration.

10/10/1996 Bodacc B Modifications et mutations diverses

RCS *. RCS Nanterre B 315 281 113 RC RC 93-B 1283 SOCIETE D'IMPORTATION LECLERC. Sigle : S.I.P.L.E.C. Forme : S.A. cooperative a capital variable. Administration : president du conseil d' administration : PAYRAUDEAU (Michel, Constant, Pierre) Vice-president et administrateur : LEVIEUX (Francois). Directeur general et administrateur : LE GUIL (Pierre). Fonde de pouvoir a procuration generale : LECLERC (Michel) . Administrateurs : GOBILLOT (Michel) LANDAIS (Jean-Claude) BELOOSSOFF ( Eric) MERLE (Jean-Pierre) GATTEPAILLE (Jacques) PEINTURIER ( Yvon, Pierre, Germain). Commissaires aux comptes titulaires : BACQUET ( Andre) COGEPARC. Commissaires aux comptes suppleants : HEBETTE (Michel) CHAROY (Bernard). Commentaires : modification survenue sur l' administration.

Company events history

Date	Description
06/02/2015	Legal Gazette: Resignation / Revocation of the social representative
02/02/2015	Legal Gazette: Appointment of the social representative
03/10/2014	Update of participations in other companies
12/09/2014	Bodacc B: Various editing or changing
05/09/2014	Update of participations in other companies
04/09/2014	Changes to the Board of Directors
04/09/2014	Appointment/resignation of company officers
04/09/2014	Amendment
02/09/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/08/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/07/2014	Bodacc C : Deposit accounts notice
10/07/2014	Legal Gazette: Resignation / Revocation of the social representative
21/06/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/01/2014	Bodacc B: Various editing or changing
23/01/2014	Update Rating
23/01/2014	Update Limit
21/01/2014	New chairman (CEO, CoB)
21/01/2014	Amendment
03/01/2014	Legal Gazette: Resignation / Revocation of the social representative
31/12/2013	New accounts available
31/12/2013	New consolidated accounts available
16/12/2013	Legal Gazette: Appointment of the social representative
01/11/2013	Disengagement in other companies
01/11/2013	New shareholders detected
14/10/2013	Update Rating
04/10/2013	Update of participations in other companies
22/08/2013	Update Rating
22/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
18/08/2013	Bodacc C : Deposit accounts notice
16/01/2013	Unfiling of a Social Security preferential right
16/01/2013	New Filling of Social Security preferential right
31/12/2012	New accounts available
31/12/2012	New consolidated accounts available
25/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/08/2012	Bodacc C : Deposit accounts notice
18/07/2012	Unfiling of a Social Security preferential right
18/07/2012	New Filling of Social Security preferential right
01/06/2012	Update of participations in other companies
18/04/2012	New Filling of Social Security preferential right
18/04/2012	Unfiling of a Social Security preferential right
06/04/2012	New shareholders detected
06/04/2012	New participations in other companies
06/04/2012	New subsidiarie(s) detected
02/03/2012	New participations in other companies
03/02/2012	Bodacc B: Various editing or changing
26/01/2012	Amendment
26/01/2012	Changes to the Board of Directors
26/01/2012	Appointment/resignation of company officers
31/12/2011	New consolidated accounts available
31/12/2011	New accounts available
04/11/2011	Update of participations in other companies
04/11/2011	New participations in other companies
25/10/2011	Bodacc B: Various editing or changing
17/10/2011	New chairman (CEO, CoB)
17/10/2011	Changes to the Board of Directors
17/10/2011	Appointment/resignation of company officers
17/10/2011	Amendment
17/10/2011	Minutes of Board meeting
08/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
31/12/2010	New consolidated accounts available
12/11/2010	New shareholders detected
12/11/2010	New participations in other companies
12/11/2010	New subsidiarie(s) detected
19/08/2010	Bodacc C : Deposit accounts notice
09/07/2010	New participations in other companies
03/05/2010	Update of participations in other companies
16/03/2010	Bodacc B: Various editing or changing
04/03/2010	Minutes of Board meeting
04/03/2010	Changes to the Board of Directors
04/03/2010	Appointment/resignation of company officers
04/03/2010	Amendment
31/12/2009	New accounts available
31/12/2009	New consolidated accounts available
15/12/2009	Legal Gazette: Appointment of the social representative
07/10/2009	Bodacc C : Deposit accounts notice
14/08/2009	Bodacc C : Deposit accounts notice
06/08/2009	Bodacc B: Various editing or changing
29/07/2009	Changes to the Board of Directors
29/07/2009	Private document
29/07/2009	Amendment
29/07/2009	Appointment/resignation of company officers
29/07/2009	Changes to the Board of Directors
29/07/2009	Minutes of general meeting of shareholders
19/07/2009	Bodacc B: Various editing or changing
09/07/2009	Minutes of Board meeting
09/07/2009	Appointment/resignation of company officers
09/07/2009	Amendment
09/07/2009	Amendment
09/07/2009	Private document
03/04/2009	Collection of preferential rights activated for this company
03/03/2009	New Bodacc B ads detected
03/03/2009	Bodacc B: Various editing or changing
19/02/2009	Private document
19/02/2009	Minutes of general meeting of shareholders
19/02/2009	Changes to the Board of Directors
19/02/2009	Appointment/resignation of company officers
19/02/2009	Amendment
31/12/2008	New accounts available
31/12/2008	New consolidated accounts available
29/07/2008	Bodacc C : Deposit accounts notice
31/12/2007	New consolidated accounts available
31/12/2007	New accounts available
18/09/2007	Amendment
18/09/2007	Appointment/resignation of company officers
18/09/2007	Changes to the Board of Directors
18/09/2007	Changes to the Board of Directors
18/09/2007	Minutes of Board meeting
18/09/2007	Private document
31/12/2006	New accounts available
31/12/2006	New consolidated accounts available
07/08/2006	New auditor
07/08/2006	Private document
07/08/2006	Registration after transfer
07/08/2006	Updated articles of association
07/08/2006	Minutes of general meeting of shareholders
07/08/2006	Appointment/resignation of company officers
07/08/2006	Registered office transferred outside jurisdiction of the Commercial Court
24/07/2006	New auditor
24/07/2006	Private document
24/07/2006	Appointment/resignation of company officers
24/07/2006	Minutes of general meeting of shareholders
31/12/2005	New accounts available
06/10/2005	New chairman (CEO, CoB)
06/10/2005	Minutes of Board meeting
06/10/2005	Changes to the Board of Directors
06/10/2005	Appointment/resignation of company officers
06/10/2005	Amendment
06/10/2005	Private document
18/01/2005	Amendment
18/01/2005	Appointment/resignation of company officers
18/01/2005	Changes to the Board of Directors
18/01/2005	Minutes of Board meeting
18/01/2005	Private document
31/12/2004	New accounts available
13/10/2004	Amendment
13/10/2004	Appointment/resignation of company officers
13/10/2004	Changes to the Board of Directors
13/10/2004	Private document
13/10/2004	Minutes of Board meeting
31/12/2003	New accounts available
29/10/2003	Appointment/resignation of company officers
29/10/2003	Changes to the Board of Directors
29/10/2003	Minutes of general meeting of shareholders
29/10/2003	Private document
23/09/2003	Amendment
23/09/2003	Minutes of Board meeting
23/09/2003	Minutes of general meeting of shareholders
23/09/2003	Private document
23/09/2003	Updated articles of association
08/09/2003	Appointment/resignation of company officers
08/09/2003	Private document
08/09/2003	Minutes of Board meeting
08/09/2003	Changes to the Board of Directors
08/09/2003	Amendment
06/04/2002	Minutes of Board meeting
06/04/2002	Private document
06/04/2002	Amendment
06/04/2002	Changes to the Board of Directors
06/04/2002	Appointment/resignation of company officers
18/02/2002	Amendment
18/02/2002	Capital increase
18/02/2002	Conversion of equity to euro
18/02/2002	Minutes of Board meeting
18/02/2002	Minutes of general meeting of shareholders
18/02/2002	Updated articles of association
18/02/2002	Private document
04/10/2000	Minutes of general meeting of shareholders
04/10/2000	New auditor
04/10/2000	Private document
04/10/2000	Appointment/resignation of company officers
17/05/2000	Minutes of general meeting of shareholders
17/05/2000	Private document
17/05/2000	Amendment
17/05/2000	Appointment/resignation of company officers
27/04/2000	Amendment
27/04/2000	Changes to the Board of Directors
27/04/2000	Minutes of Board meeting
27/04/2000	Private document
27/04/2000	Appointment/resignation of company officers
15/02/2000	Minutes of general meeting of shareholders
15/02/2000	Appointment/resignation of company officers
15/02/2000	Private document
15/02/2000	Changes to the Board of Directors
15/02/1999	Appointment/resignation of company officers
15/02/1999	Private document
15/02/1999	Changes to the Board of Directors
15/02/1999	Amendment
15/02/1999	Minutes of Board meeting
05/09/1997	Amendment
05/09/1997	Changes to the Board of Directors
05/09/1997	Minutes of general meeting of shareholders
05/09/1997	Appointment/resignation of company officers
25/02/1997	Minutes of Board meeting
25/02/1997	Changes to the Board of Directors
25/02/1997	Appointment/resignation of company officers
25/02/1997	Amendment
25/02/1997	Private document
25/09/1996	Amendment
25/09/1996	Appointment/resignation of company officers
25/09/1996	Minutes of general meeting of shareholders
25/09/1996	Changes to the Board of Directors
10/03/1994	Updated articles of association
10/03/1994	Minutes of general meeting of shareholders
10/03/1994	Declaration of conformity
10/03/1994	Amendment
10/03/1994	Secondary registration becomes main registration
03/02/1994	Minutes of general meeting of shareholders
03/02/1994	Registered office transferred outside jurisdiction of the Commercial Court
03/02/1994	Amendment
24/02/1993	Amendment
24/02/1993	Minutes of Board meeting
18/03/1992	Minutes of general meeting of shareholders
18/03/1992	Changes to the Board of Directors
18/03/1992	Amendment
18/03/1992	Appointment/resignation of company officers

Establishment events history

Date	Description
01/08/2014	Update Rating
22/02/2014	Update of phone numbers
28/08/2011	Update Rating
28/08/2011	Update Limit
06/05/2011	Update Rating
15/11/2010	Update Limit
19/10/2010	Update of phone numbers
03/09/2010	Update Rating
19/08/2010	Update of phone numbers
20/10/2009	Update Limit
20/10/2009	Update Rating
02/10/2009	Update Limit
06/09/2009	Update Rating
08/12/2007	Update Limit
25/01/2007	Update Limit
25/01/2007	Update Rating
20/01/2007	Update Limit
20/01/2007	Update Rating
10/01/2007	Update Limit
10/01/2007	Update Rating
01/07/2006	Formation of Establishment (after transfer)

Synthesized Accounts

ANNUAL ACCOUNTS

	31/12/2013	31/12/2011	31/12/2010
Account period
(month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	15/07/2014	30/07/2014	25/08/2011
Activity Code	4612A	4612A	4612A
Employees	0	0	204

ACTIVE ACCOUNT

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	45,709,293	-7.4 %	49,373,800	6.5 %	46,361,812	8,687,763	426.1 %
- Intangible assets	10,200,757	-19.5 %	12,670,840	18.1 %	10,729,742	110,008	9172.7 %
- Tangible assets	15,799,792	-5.0 %	16,630,180	6.7 %	15,581,572	251,004	6194.6 %
- Financial assets	19,708,744	-1.8 %	20,072,780	0.1 %	20,050,498	8,580,112	129.7 %

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Net current assets	1,102,167,162	10.6 %	996,894,510	11.6 %	893,222,694	239,388,570	360.4 %
- Stocks	286,686,681	-19.8 %	357,357,614	70.0 %	210,165,957	35,711,967	702.8 %
- Advanced
	0	0%	0	0%	0	0	0%
payments
- Receivables	475,537,998	-5.9 %	505,307,829	11.0 %	455,151,237	203,673,038	133.5 %
- Securities and cash	339,942,483	153.3 %	134,229,067	-41.1 %	227,905,500	1,568,767	21569.4 %
- Prepaid expenses	-	-	-	-	-		-
Accounts of regularization	640,569	2543.8 %	24,229	-79.3 %	117,053	0	0%
Total Assets	1,148,517,024	9.8 %	1,046,293,554	11.3 %	939,701,559	248,076,333	363.0 %

PASSIVE ACCOUNT

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Shareholders' equity	139,229,163	6.1 %	131,215,257	11.1 %	118,093,081	24,174,971	475.9 %
Share capital	1,605,825	-0.3 %	1,610,400	0.9 %	1,596,675	1,600,000	0.4 %
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	10,599,455	-46.3 %	19,751,176	3.4 %	19,095,597	195,175	5330.7 %
Liabilities	998,245,375	11.6 %	894,381,803	11.6 %	801,652,023	219,356,702	355.1 %
- Financial liabilities	12,268,263	-3.5 %	12,709,400	-9.5 %	14,046,860	2,061,736	495.0 %
- Advanced payments received	0	0%	196,628	0%	0	0	0%
- Trade account payables	881,670,863	14.2 %	772,184,540	11.3 %	693,699,122	63,617,471	1285.9 %
- Tax and social liabilities	49,318,988	21.0 %	40,742,725	2.9 %	39,587,800	49,318,988	0%
- Other debts and fixed assets liabilities	55,430,292	-20.2 %	69,493,819	26.6 %	54,906,105	5,116,330	983.4 %
Account regularization	0	0%	0	0%	272,989	0	0%
Total liabilities	1,148,517,024	9.8 %	1,046,293,553	11.3 %	939,701,559	248,076,335	363.0 %

RESULTS

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Sales of Goods	10,586,535,410	9.8 %	9,638,641,745	22.7 %	7,857,371,805	2,355,035,099	349.5 %
Net turnover	10,579,004,092	9.8 %	9,634,656,869	22.6 %	7,856,776,177	2,352,423,430	349.7 %
- of which net export turnover	0	0%	0	0%	0	0	0%
Operating charges	10,595,507,260	10.0 %	9,630,639,774	23.0 %	7,827,784,501	2,358,371,738	349.3 %
Operating profit/loss	-8,971,850	-212.1 %	8,001,971	-73.0 %	29,587,304	-11,115	-80618.4 %
Financial income	7,819,702	29.3 %	6,048,445	-28.4 %	8,442,333	764,346	923.1 %
Financial charges	1,352,921	-39.9 %	2,252,676	46.4 %	1,538,811	70,895	1808.3 %
Financial profit/loss	6,466,781	70.4 %	3,795,769	-45.0 %	6,903,522	6,176	104608.2 %
Pretax net operating income	-2,455,018	-120.7 %	11,832,208	-67.7 %	36,585,444	-22,249	-10934.3 %
Extraordinary income	15,540,179	-36.4 %	24,431,447	166.3 %	9,172,718	882,485	1661.0 %
Extraordinary charges	1,987,937	-93.7 %	31,759,968	38.5 %	22,931,667	61,000	3158.9 %
Extraordinary profit/loss	13,552,242	284.9 %	-7,328,521	46.7 %	-13,758,949	154,600	8666.0 %
Net result	11,340,292	178.2 %	4,076,636	-70.7 %	13,907,850	592,037	1815.5 %

GRAND TOTAL - ACTIVE ACCOUNTS (I TO VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Grand Total (I to VI)
	Net	1,148,517,024	4.6 %	1,098,467,738	5.0 %	1,046,293,554
Gross	CO	1,189,675,266	4.7 %	1,136,360,852	5.9 %	1,073,017,293
Amortisation	1A	41,158,242	8.6 %	37,893,114	41.8 %	26,723,739

NON DECLARED DISTRIBUTED CAPITAL (I)

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

ACTIVE FIXED ASSET (II)

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Active fixed
Net	45,709,293	-6.5 %	48,904,803	-0.9 %	49,373,800
asset (II)
Gross BJ	85,239,092	4.4 %	81,630,398	7.3 %	76,093,064
Amortisation BK	39,529,799	20.8 %	32,725,595	22.5 %	26,719,264

INTANGIBLE FIXED ASSETS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Start-up cost	Net	0	0%	0	0%	0
	Gross AB	0	0%	0	0%	0
Amortisation AC		0	0%	0	0%	0
R&D expenses	Net	0	0%	0	0%	0
	Gross CX	0	0%	0	0%	0
Amortisation AE		0	0%	0	0%	0
Distributorships,
	Net	9,930,443	-16.6 %	11,901,894	-4.5 %	12,457,245
patents
	Gross AF	39,624,379	8.7 %	36,460,573	11.8 %	32,600,708
Amortisation AG		29,693,936	20.9 %	24,558,679	21.9 %	20,143,463
Goodwill	Net	0	0%	0	0%	0
	Gross AH	0	0%	0	0%	0
Amortisation AI		0	0%	0	0%	0
Other intangible fixed
	Net	270,314	18.6 %	227,997	6.7 %	213,595
assets
	Gross AJ	270,314	18.6 %	227,997	6.7 %	213,595
Amortisation AK		0	0%	0	0%	0
Pre-payments and
	Net	0	0%	0	0%	0
downpayments
	Gross AL	0	0%	0	0%	0
Amortisation AM		0	0%	0	0%	0
Sub Total
		10,200,757	-15.9 %	12,129,891	-4.3 %	12,670,840

INTANGIBLE ASSET NET

Tangilble fixed assets
		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Lands	Net	0	0%	0	0%	0
	Gross AN	0	0%	0	0%	0
Amortisation AO		0	0%	0	0%	0
Buildings	Net	0	0%	0	0%	0
	Gross AP	0	0%	0	0%	0
Amortisation AQ		0	0%	0	0%	0
Plant	Net	0	0%	0	0%	0
	Gross AR	0	0%	0	0%	0
Amortisation AS		0	0%	0	0%	0
Other tangible fixed
	Net	0	0%	16,699,766	0.4 %	16,630,180
assets
	Gross AT	0	0%	24,866,682	7.2 %	23,205,981
Amortisation AU		0	0%	8,166,916	24.2 %	6,575,801
Fixed assets in
	Net	15,799,792	0%	0	0%	0
construction
	Gross AV	25,635,655	0%	0	0%	0
Amortisation AW		9,835,863	0%	0	0%	0
Advances and
payments on	Net	0	0%	0	0%	0
account
	Gross AX	0	0%	0	0%	0
Amortisation AY		0	0%	0	0%	0
Sub Total Tangible
	Net	15,799,792	-5.4 %	16,699,766	0.4 %	16,630,180
asset

FINANCIAL ASSETS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Associates at equity Net		0	0%	8,088,293	0%	0
	Gross CS	0	0%	8,088,293	0%	0
Amortisation CT		0	0%	0	0%	0
Other participations	Net	8,088,293	0%	0	0%	8,088,293
	Gross CU	8,088,293	0%	0	0%	8,088,293
Amortisation CV		0	0%	0	0%	0
Inter-company
	Net	1,293,443	-26.2 %	1,753,197	0.0 %	1,753,954
receivables
	Gross BB	1,293,443	-26.2 %	1,753,197	0.0 %	1,753,954
Amortisation BC		0	0%	0	0%	0
Other investment
	Net	10,301,801	0.9 %	10,207,877	0.0 %	10,206,251
securities
	Gross BD	10,301,801	0.9 %	10,207,877	0.0 %	10,206,251
Amortisation BE		0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
	Gross BF	0	0%	0	0%	0
Amortisation BG		0	0%	0	0%	0
Other financial
	Net	25,207	-2.2 %	25,779	6.2 %	24,282
assets
	Gross BH	25,207	-2.2 %	25,779	6.2 %	24,282
Amortisation BI		0	0%	0	0%	0
Sub Total Financial	Net	19,708,744	-1.8 %	20,075,146	0.0 %	20,072,780

CURRENT ASSETS (III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Assets	Net	1,102,167,162	5.1 %	1,048,930,995	5.2 %	996,894,510
Gross CJ		1,103,795,605	4.7 %	1,054,098,512	5.7 %	996,898,984
Amortisation CK		1,628,443	-68.5 %	5,167,517	115401.1 %	4,474

STOCKS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Raw materials	Net	0	0%	0	0%	0
	Gross BL	0	0%	0	0%	0
Amortisation BM		0	0%	0	0%	0
Work in progress
	Net	0	0%	0	0%	0
(goods)
	Gross BN	0	0%	0	0%	0
Amortisation BO		0	0%	0	0%	0
Work in progress
	Net	0	0%	0	0%	0
(services)
	Gross BP	0	0%	0	0%	0
Amortisation BQ		0	0%	0	0%	0
Semi-finished and
	Net	0	0%	0	0%	0
finished products
	Gross BR	0	0%	0	0%	0
Amortisation BS		0	0%	0	0%	0
Goods for resale	Net	286,686,681	0%	0	0%	357,357,614
	Gross BT	288,194,797	0%	0	0%	357,357,614
Amortisation BU		1,508,116	0%	0	0%	0
Sub Total Stocks Net		286,686,681	0%	0	0%	357,357,614

ADVANCE PAYMENTS TO SUPPLIERS

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Advance payments
Net	0	0%	0	0%	0
to suppliers
Gross BV	0	0%	0	0%	0
Amortisation BW	0	0%	0	0%	0

DEBTORS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Trade accounts
	Net	416,088,653	0%	0	0%	446,612,235
receivable
	Gross BX	416,137,880	0%	0	0%	446,616,709
Amortisation BY		49,227	0%	0	0%	4,474
Other debtors	Net	27,834,978	0%	0	0%	29,393,953
	Gross BZ	27,906,078	0%	0	0%	29,393,953
Amortisation CA		71,100	0%	0	0%	0
Capital subscribed
	Net	0	0%	0	0%	0
and called up
	Gross CB	0	0%	0	0%	0
Amortisation CC		0	0%	0	0%	0
Sub Total debtors Net		443,923,631	0%	0	0%	476,006,188

DIVERS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Investment
	Net	133,163,406	0%	0	0%	124,142,021
securities
	Gross CD	133,163,406	0%	0	0%	124,142,021
Amortisation CE		0	0%	0	0%	0
Cash and cash
	Net	206,779,077	553.2 %	31,657,207	213.8 %	10,087,046
equivalents
	Gross CF	206,779,077	553.2 %	31,657,207	213.8 %	10,087,046
Amortisation CG		0	0%	0	0%	0
Sub Total Divers	Net	339,942,483	973.8 %	31,657,207	-76.4 %	134,229,067

PREPAID EXPENSES

	31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Prepaid expenses Net	31,614,367	-15.9 %	37,591,479	28.3 %	29,301,641
Gross CH	31,614,367	-15.9 %	37,591,479	28.3 %	29,301,641
Amortisation CI	0	0%	0	0%	0

EQUALIZATION ACCOUNTS (IV TO VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	640,569	1.4 %	631,937	2508.2 %	24,229
Gross		640,569	1.4 %	631,937	2508.2 %	24,229

REFERENCES

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Due within one year	CP	0	0%	12,187	0%	0
Due after one year	CR	0	0%	0	0%	0

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	1,148,517,024	4.6 %	1,098,467,738	5.0 %	1,046,293,553

SHAREHOLDER EQUITY (I)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Equity and shareholders' equity	DA	1,605,825	-0.2 %	1,608,875	-0.1 %	1,610,400
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity	EK	0	0%	0	0%	0
differential
Legal reserve	DD	0	0%	161,040	1.4 %	158,828
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	B1	0	0%	0	0%	0
for current fluctuation
Other reserves	DG	79,510,445	1.5 %	78,326,626	5.5 %	74,252,201
Of which reserve for
buying originals works from alive	EJ	0	0%	0	0%	0
artists
Profits or losses brought forward	DH	-441,000	0%	0	0%	0
Profit or loss for the period	DI	11,340,292	1008.8 %	1,022,779	-74.9 %	4,076,636
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	47,213,601	-6.1 %	50,289,300	-1.6 %	51,117,192

OTHER CAPITAL RESOURCES (II)

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

PROVISIONS FOR RISKS AND CHARGES (III)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total provisions
for risks and	DR	10,599,455	-47.0 %	19,984,926	1.2 %	19,751,176
charges (Total III)
Risk provisions	DP	7,695,161	-57.7 %	18,181,922	-0.6 %	18,285,002
Reserves for charges	DQ	2,904,294	61.1 %	1,803,004	23.0 %	1,466,174

LIABILITIES (IV)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total Liabilities (Total IV)	EC	998,245,375	5.5 %	946,206,662	5.8 %	894,381,803
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	11,243,422	115.9 %	5,208,264	-54.9 %	11,543,626
		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Sundry loans and financial liabilities	DV	1,024,841	-11.9 %	1,163,486	-0.2 %	1,165,774
Of which participating loans	EI	0	0%	0	0%	0
Advance payments
received for current	DW	0	0%	0	0%	196,628
orders
Trade accounts payables	DX	881,670,863	4.4 %	844,417,915	9.4 %	772,184,540
Tax and social security liabilities	DY	49,318,988	-42.3 %	85,500,582	109.9 %	40,742,725
Fixed asset liabilities	DZ	0	0%	980,374	-51.0 %	1,998,843
Other debts	EA	54,987,261	515.3 %	8,936,041	-86.6 %	66,549,667

TRANSLATION LOSS (V)

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Translation loss

(Total V)

443,031

-48.9 %

867,525

-8.2 %

945,309

EQUALIZATION ACCOUNTS

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

REFERENCES

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which taxallowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	945,019,895	0%	0
Of which current bank facilities	EH	0	0%	5,208,264	0%	0

Result account

1 -- OPERATING RESULT (I-II)

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Operating result

(Total I-II)

-8,971,850

-218.4 %

7,575,682

-5.3 %

8,001,971

FINANCIAL RESULT (V-VI)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Financial result	GV	6,466,781	131.4 %	2,794,063	-26.4 %	3,795,769

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	GW	-2,455,018	-123.4 %	10,479,801	-11.4 %	11,832,208

4 - EXTRAORDINARY RESULT (VII-VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Extraordinary
result (Total VII-VIII)	HI	13,552,242	333.4 %	-5,805,233	20.8 %	-7,328,521

PROFIT OR LOSS

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Profit or loss	HN	11,340,292	1008.8 %	1,022,779	-74.9 %	4,076,636

TOTAL INCOME (I+III+V+VII)

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Total Income

(Total I+III+V+VII)

10,609,945,342

-1.8 %

10,809,134,260

11.8 %

9,669,156,105

TOTAL CHARGES

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Total operating

income (Total I)

10,586,535,410

-2.0 %

10,797,639,997

12.0 %

9,638,641,745

OPERATING INCOME (DETAILS)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Sale of goods for
	FC	10,569,231,732	-2.1 %	10,792,588,997	12.1 %	9,631,242,074
resale
	France FA	10,569,231,732	-2.1 %	10,792,588,997	12.1 %	9,631,242,074
	Export FB	0	0%	0	0%	0
Sale of goods
	FF	0	0%	0	0%	0
produced
	France FD	0	0%	0	0%	0
	Export FE	0	0%	0	0%	0
Sale of services	FI	9,772,360	152.6 %	3,867,948	13.3 %	3,414,795
		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
	France FG	9,772,360	152.6 %	3,867,948	13.3 %	3,414,795
	Export FH	0	0%	0	0%	0
Net turnover	FL	10,579,004,092	-2.0 %	10,796,456,945	12.1 %	9,634,656,869
	France FJ	10,579,004,092	-2.0 %	10,796,456,945	12.1 %	9,634,656,869
	Export FK	0	0%	0	0%	0
	Stocked production FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	15,000	87.6 %	7,996	-83.4 %	48,087
Release of reserves and provisions	FP	7,035,786	649.0 %	939,327	-73.7 %	3,568,635
Other income	FQ	480,532	103.8 %	235,729	-36.0 %	368,154

OPERATING CHARGES (II)

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Total operating

charges (Total II)-

10,595,507,260

-1.8 %

10,790,064,315

12.0 %

9,630,639,774

EXPLOITATION CHARGES

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Purchase of goods for resale	FS	10,371,756,280	-2.2 %	10,606,148,538	10.0 %	9,640,971,200
Change in stocks of goods for resale	FT	48,401,148	133.1 %	20,761,667	114.4 %	-144,272,793
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external
purchases and	FW	28,204,501	-7.6 %	30,527,179	2.4 %	29,809,483
charges
Tax, duty and similar payments	FX	40,250,430	-2.7 %	41,359,150	4.0 %	39,761,856
Payroll	FY	9,636,514	5.1 %	9,169,369	1.2 %	9,058,385
Social security costs	FZ	4,279,326	2.1 %	4,192,217	5.8 %	3,964,162

DEPRECIATION


		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Depreciation of fixed assets	GA	6,903,519	13.2 %	6,098,131	-14.7 %	7,146,476
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1,523,822	-70.5 %	5,167,037	495301.4 %	1,043
Provisions for risks and charges	GD	889,700	-46.1 %	1,651,108	-2.4 %	1,690,851

OTHER CHARGES

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Other charges	GE	83,662,020	28.7 %	64,989,919	52.9 %	42,509,111

31/12/2013

Variation

31/12/2012

Variation

31/12/2011

Share of jointventure

transferred to other partner(s) (Total III)

50,051

-54.5 %

110,056

219.3 %

34,468

Share of joint

Venture transferred from

other partner(s) (Total IV)

FINANCIAL INCOME (V)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total financial income (Total V)	GP	7,819,702	21.1 %	6,455,464	6.7 %	6,048,445
Share financial income	GJ	1,980,279	34.4 %	1,473,024	-44.5 %	2,655,587
Other investment income & capitalized receivables	GK	505,370	-34.5 %	771,491	146.7 %	312,686
Other interest and similar income	GL	1,560,529	718.2 %	190,736	-10.7 %	213,594
Released provisions and transferred charges	GM	631,937	-50.9 %	1,286,438	999.0 %	117,053
Exchange gains	GN	355,060	37.6 %	258,089	-4.9 %	271,439
Net income from disposal of investment securities	GO	2,786,527	12.6 %	2,475,686	-0.1 %	2,478,086

FINANCIAL CHARGE (VII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total financial charge (Total VI)	GU	1,352,921	-63.0 %	3,661,401	62.5 %	2,252,676
Financial reserves and provisions	GQ	640,569	1.4 %	631,937	-51.0 %	1,288,438
Interest and similar charges	GR	136,163	-93.4 %	2,054,445	1101.5 %	170,996
Exchange losses	GS	576,189	-40.9 %	975,019	22.9 %	793,242
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

EXTRAORDINARY INCOME (VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary income (Total VII)	HD	15,540,179	215.3 %	4,928,743	-79.8 %	24,431,447
Extraordinary operating income	HA	1,180,078	286.7 %	305,166	0%	0
Extraordinary income from capital transactions	HB	134,402	71.7 %	78,282	809.0 %	8,612
Released provisions and transferred charges	HC	14,225,699	213.0 %	4,545,295	-81.4 %	24,422,835

EXTRAORDINARY CHARGES (VIII)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Total extraordinary charges (Total VIII)	HH	1,987,937	-81.5 %	10,733,976	-66.2 %	31,759,968
Extraordinary operating charges	HE	93,241	-98.6 %	6,817,750	86861.1 %	7,840
Extraordinary charges from capital transactions	HF	109,508	-44.9 %	198,823	-8.1 %	216,343
Extraordinary reserves and provisions	HG	1,785,188	-52.0 %	3,717,403	-88.2 %	31,535,785

EMPLOYEE PROFIT SHARING (IX)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Employee profit sharing (Total IX)	HJ	400,000	46.7 %	272,605	-36.5 %	429,049

TAX ON PROFITS (X)

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Tax on profits (Total X)	HK	-643,070	-119.0 %	3,379,182	0%	0

REFERENCES

		31/12/2013	Variation	31/12/2012	Variation	31/12/2011
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
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

OTHER INCOMES TAX RETURN FORMS FIXED ASSETS

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%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	0	0%	0	0%	0
Gross value at the end of period	OL	0	0%	0	0%	0

RESEARCH AND DEVELOPMENT CHARGE (TOTAL I)

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

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	0	0%	0	0%	0
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	0	0%	0	0%	0

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

FINANCIAL ASSETS (TOTAL IV)

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

Reserve for depreciation

SITUATION AND MOVEMENT OF RESERVE FOR DEPRECIATION - GRAND TOTAL (I-II-III)

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

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	0	0%	0	0%	0
Increases	FF	0	0%	0	0%	0
Decreasess	PG	0	0%	0	0%	0
Reserve for depreciation value	PH	0	0%	0	0%	0

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	0	0%	0	0%	0
Increases	QV	0	0%	0	0%	0
Decreasess	QW	0	0%	0	0%	0
Reserve for depreciation value	QX	0	0%	0	0%	0

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%	0	0%	0
Increases	Z92	0	0%	0	0%	0
Depreciation of fixed assets during period	Z9	0	0%	0	0%	0
Decreasess by budget item transfer	B1	0	0%	0	0%	0

PREMIUM REFUND OF OBLIGATIONS

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

PROVISIONS INCLUDED IN BALANCE SHEET

Grand Total (I-II-III)

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

Ratios

STRUCTURE AND LIQUIDITY

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Fixed Asset Financing
Global Debt
Working Capital Fund overall net	4 days	0%	4 days	0%	4 days	4 days	0%
Financial independence	1,134.87 %	9.9 %	1,032.43 %	22.8 %	840.71 %	218.32 %	419.8 %
Solvability	12.12 %	-3.3 %	12.54 %	-0.2 %	12.57 %	12.12 %	0%
Capacity debt futures	-	-	-	-	914.38 %	236.88 %	-
Coverage of current assets by net	9.66 %	-7.7 %	10.47 %	21.5 %	8.62 %	11.90 %	-18.8 %
working capital overall
General Liquidity	-	-	-	-	0.57	0.97	-
Restricted Liquidity	-	-	-	-	0.85	1.21	-

MANAGEMENT OR ROTATION

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Need background in operating working capital	-9 days	-350.0 %	-2 days	71.4 %	-7 days	1 days	-1000.0 %
Treasury	12 days	140.0 %	5 days	-50.0 %	10 days	5 days	140.0 %
Inventory turnover of goods	10 days	-28.6 %	14 days	40.0 %	10 days	9 days	17.6 %
Average length of credit granted to customers	14 days	-17.6 %	17 days	-10.5 %	19 days	16 days	-12.5 %
Average length of credit obtained suppliers	30 days	3.4 %	29 days	-9.4 %	32 days	14 days	114.3 %
Inventory turnover of raw materials in industrial enterprises	--	--	--	--	--	--	--
Inventory turnover of intermediate and finished products in the industrial enterprise	--	--	--	--	--	--	--
Rotation tangible assets	--	--	--	--	--	--	--

PROFITABILITY OF THE BUSINESS

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Margin trading	1.41 %	0.7 %	1.40 %	-23.1 %	1.82 %	2.66 %	-47.0 %
Profitability of the business	0.72 %	24.1 %	0.58 %	-41.4 %	0.99 %	0.72 %	0%
Net profit	0.11 %	175.0 %	0.04 %	-77.8 %	0.18 %	0.13 %	-15.4 %
Growth rate of
turnover (excluding	-2.01 %	-108.9 %	22.63 %	84.0 %	12.30 %	-3.57 %	43.7 %
VAT)
Rates integration	1.23 %	9.8 %	1.12 %	-25.3 %	1.50 %	1.23 %	0%
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.00 %	0%
Work Factor	10.65 %	-11.5 %	12.04 %	16.9 %	10.30 %	10.65 %	0%
Weight interests	0.01 %	-50.0 %	0.02 %	0%	0.02 %	0.01 %	0%

RETURN ON CAPITAL

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013

Cash flow from the overall profitability	0.20 %	-56.5 %	0.46 %	0%	0.46 %	0.24 %	-16.7 %
Rates of economic profitability	50.00 %	28.2 %	39.00 %	-33.9 %	59.00 %	8.00 %	525.0 %
Financial profitability	139,229,163.00 %	6.1 %	131,215,257.00 %	11.1 %	118,093,081.00 %	24,174,971.00 %	475.9 %
Return on investment	8.38 %	90.5 %	4.40 %	-62.4 %	11.69 %	4.91 %	70.7 %

MANAGEMENT INTERMEDIATE BALANCES

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Turnover	10,579,004,092	9.8 %	9,634,656,869	22.6 %	7,856,776,177	2,352,423,430	349.7 %

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Sales of goods	10,569,231,732	9.7 %	9,631,242,074	22.6 %	7,853,881,310		-
- Purchase of goods	10,371,756,280	7.6 %	9,640,971,200	25.0 %	7,714,399,019		-
+/- Stock of goods variation	48,401,148	133.5 %	-144,272,793	-3872.5 %	-3,631,748		-
Trading margin	149,074,304 €	10.8 %	134,543,66 €7	-6.0 %	143,114,039 €	53,583,438€	178.2 %
	1.41 % CA	0.7 %	1.40 % CA	-23.1 %	1.82 % CA	2.66 % CA	-47.0 %

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Sales of goods	9,772,360	186.2 %	3,414,795	18.0 %	2,894,867		-
- Purchase of goods							-
+/- Stock of goods variation	0	0%	0	0%	0		-
+ Self-constructed assets	0	0%	0	0%	0
Period production	9,772,360	186.2 %	3,414,795	18.0 %	2,894,867		-
	0.09 % CA	125.0 %	0.04 % CA	0%	0.04 % CA	0.09 % CA	0%

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Trading margin	149,074,304	10.8 %	134,543,667	-6.0 %	143,114,039	53,583,438		178.2 %
+ Period Production	9,772,360	186.2 %	3,414,795	18.0 %	2,894,867	1,679,124		482.0 %
- Purchase of raw materials	0	0%	0	0%	0			-
+/- Change in stocks of raw materiels	0	0%	0	0%	0			-
- Other external
purchases and	28,204,501	-5.4 %	29,809,483	5.1 %	28,351,893			-
charges
Added value	130,642,163 €	20.8 %	108,148,979 €	-8.1 %	117,657,013 €	2,149,827 €		5976.9 %
	1.23 % CA	9.8 %	1.12 % CA	-25.3 %	1.50 % CA	1.23 % CA		0%
Added value	130,642,163 €	20.8 %	108,148,979 €	-8.1 %	117,657,013 €	2,149,827 €		5976.9 %
+ Operating grants	15,000	-68.8 %	48,087	29.1 %	37,242			-
- Tax, duty and similar payments	40,250,430	1.2 %	39,761,856	41.7 %	28,066,659			-
- Personal charges	13,915,840	6.9 %	13,022,547	7.4 %	12,121,636			-
Gross operating surplus	76,490,893 €	38.0 %	55,412,663 €	-28.5 %	77,505,960 €	229,436 €		33238.7 %
	0.72 % CA	24.1 %	0.58 % CA	-41.4 %	0.99 % CA	0.72 % CA		0%

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Gross operating surplus	76,490,893 €	38.0 %	55,412,663 €	-28.5 %	77,505,960 €	229,436 €	33238.7 %
+ Release of
reserves and	7,035,786	97.2 %	3,568,635	589.8 %	517,330		-
provisions
+ Other operating income	480,532	30.5 %	368,154	796.7 %	41,056		-
- Depreciation/ Amortisation	9,317,041	5.4 %	8,838,370	-19.9 %	11,036,780		-
- Other charges	83,662,020	96.8 %	42,509,111	13.5 %	37,440,261		-
Operating result	-8,971,850 €	-212.1 %	8,001,971 €	-73.0 %	29,587,305 €	-11,115 €	-80618.4 %
	-0.08 % CA	-200.0 %	0.08 % CA	-78.9 %	0.38 % CA	0.00 % CA	0%

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Operating result	-8,971,850 €	-212.1 %	8,001,971 €	-73.0 %	29,587,305 €	-11,115 €	-80618.4 %
+/- Result of joint-
venture transferred from/to other	50,051	45.2 %	34,468	-63.6 %	94,618		-
partners
+ Financial income	7,819,702	29.3 %	6,048,445	-28.4 %	8,442,333		-
- Financial charges	1,352,921	-39.9 %	2,252,676	46.4 %	1,538,811		-
Pre-tax result	-2,455,018 €	-120.7 %	11,832,208 €	-67.7 %	36,585,445 €	-22,249 €	-10934.3 %
	-0.02 % CA	-116.7 %	0.12 % CA	-74.5 %	0.47 % CA	-0.02 % CA	0%

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Extraordinary income	15,540,179	-36.4 %	24,431,447	166.3 %	9,172,718	882,485	1661.0 %
- Extraordinary charges	1,987,937	-93.7 %	31,759,968	38.5 %	22,931,667		-
Extraordinary result	13,552,242 €	284.9 %	-7,328,521 €	46.7 %	-13,758,949 €	154,600 €	8666.0 %
	0.13 % CA	262.5 %	-0.08 % CA	55.6 %	-0.18 % CA	0.13 % CA	0%

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010	SECTOR MEDIAN 2013
Pre-tax result	-2,455,018 €	-120.7 %	11,832,208 €	-67.7 %	36,585,445 €	-22,249 €	-10934.3 %
Extraordinary result	13,552,242 €	284.9 %	-7,328,521 €	46.7 %	-13,758,949 €	154,600 €	8666.0 %
- Employee profit sharing	400,000	-6.8 %	429,049	-20.6 %	540,474		-
- Tax on profits	-643,070	0%	0	0%	8,378,171		-
Net result	11,340,294 €	178.3 %	4,074,638 €	-70.7 %	13,907,851 €	592,037 €	1815.5 %

SYNTHESIZED ACCOUNTS

	31/12/2013	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Consolidated	Consolidated	Consolidated
Activity Code	4612A	4612A	4612A

ACTIVE ACCOUNT

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Capital not called	0	0%	0	0%	0
Total fixed assets	97,031,298	-3.2 %	100,226,913	-1.7 %	101,961,214
- Intangible assets	11,359,547	-11.5 %	12,834,441	18.2 %	10,855,624
- Tangible assets	65,826,582	-2.0 %	67,160,078	-5.1 %	70,792,847
- Financial assets	19,845,169	-1.9 %	20,232,394	-0.4 %	20,312,739
Net current assets	1,114,990,890	73.2 %	643,755,443	-28.6 %	901,325,143
- Stocks	298,472,777	82903.6 %	359,590	-99.8 %	212,970,100
- Advanced
	0	0%	0	0%	0
payments
- Receivables	470,567,057	-4.2 %	491,274,900	9.1 %	450,168,438
- Securities and cash Accounts of regularization	345,951,056	127.4 %	152,120,953	-36.1 %	238,186,605
Total Assets	0	0%	0	0%	0

PASSIVE ACCOUNT

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Shareholders' equity	130,340,574	4.2 %	125,108,347	8.4 %	115,391,334
Share capital	1,605,825	-0.3 %	1,610,400	0.9 %	1,596,675
Other capital resources	0	0%	0	0%	0
Risk Provisions	25,657,337	-22.9 %	33,280,588	11.8 %	29,775,129
Liabilities	1,055,932,384	11.8 %	944,737,517	10.1 %	858,044,244
- Financial liabilities	61,701,492	8.5 %	56,876,253	-10.0 %	63,215,693
- Advanced payments received	0	0%	196,629	0%	0
- Trade account payables	886,030,262	14.3 %	774,954,412	11.2 %	697,101,310
- Tax and social liabilities	51,210,623	16.5 %	43,953,085	2.0 %	43,083,371
- Other debts and fixed assets liabilities	56,990,007	-17.1 %	68,743,993	26.5 %	54,358,084
Account regularization	0	0%	13,145	-95.4 %	285,782
Total liabilities	1,212,022,193	9.9 %	1,103,212,884	10.0 %	1,003,286,354

RESULTS

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Sales of Goods	10,615,607,585	9.8 %	9,670,811,132	22.5 %	7,893,800,278
Net turnover	10,607,851,828	9.7 %	9,666,243,420	22.5 %	7,892,860,202
- of which net export turnover	0	0%	0	0%	0
Operating charges	10,623,582,516	10.0 %	9,661,638,654	22.9 %	7,860,857,680
Operating profit/loss	-7,974,931	-186.9 %	9,172,478	-72.2 %	32,942,598
Financial income	6,155,912	41.1 %	4,361,411	-25.2 %	5,833,368
Financial charges	1,285,562	-51.4 %	2,647,544	51.8 %	1,743,917
Financial profit/loss	4,870,350	184.2 %	1,713,867	-58.1 %	4,089,451
Pretax net operating income	-3,054,530	-128.0 %	10,920,813	-70.6 %	37,126,667
Extraordinary income	12,584,243	185.5 %	4,407,867	221.4 %	1,371,579
Extraordinary charges	2,055,365	36.0 %	1,510,934	-55.4 %	3,387,170
Extraordinary profit/loss	10,528,878	263.4 %	2,896,933	243.7 %	-2,015,591

CONSOLIDATION

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Net result before amortisation of goodwill	5,204,524	-46.3 %	9,698,692	-58.6 %	23,404,121
Goodwill amortisation allocation	0	0%	0	0%	0
Net result of equity affiliates companies	0	0%	0	0%	0
Net result of integrated companies	0	0%	0	0%	0
Group result (consolidated net result)	5,204,524	-46.3 %	9,698,692	-58.6 %	23,404,121
Share of minority interest (Result except group)	4,877	-47.2 %	9,244	-52.1 %	19,299
Net result - group share (part of parent company)	5,199,646	-46.3 %	9,689,445	-58.6 %	23,384,822

ACCOUNTS – ACTIVE

NORMAL ACCOUNT

	31/12/2013	31/12/2011	31/12/2010
Account period (month)	12	12	12

GRAND TOTAL - ACTIVE ACCOUNTS (I TO VI)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Grand Total (I to VI)
	Net	1,212,022,193	9.9 %	1,103,212,884	10.0 %	1,003,286,354
Gross	CO	1,306,251,839	11.5 %	1,171,748,563	9.7 %	1,068,107,913
Amortisation	1A	94,229,646	37.5 %	68,535,679	5.7 %	64,821,559

ACTIVE FIXED ASSET (II)

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total Active fixed
Net	97,031,298	-3.2 %	100,226,913	-1.7 %	101,961,214
asset (II)
Gross BJ	189,632,500	12.4 %	168,758,116	3.3 %	163,349,915
Amortisation BK	92,601,202	35.1 %	68,531,203	11.6 %	61,388,701

INTANGIBLE FIXED ASSETS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
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,
	Net	11,089,233	-12.1 %	12,620,846	219.3 %	3,952,724
patents
	Gross AF	41,970,813	24.5 %	33,713,732	75.1 %	19,253,938
Amortisation AG		30,881,580	46.4 %	21,092,886	37.9 %	15,301,214
Goodwill	Net	0	0%	0	0%	6,902,900
	Gross AH	0	0%	0	0%	6,902,900
Amortisation AI		0	0%	0	0%	0
Other intangible fixed
	Net	270,314	26.6 %	213,595	0%	0
assets
	Gross AJ	270,314	26.6 %	213,595	0%	0
Amortisation AK		0	0%	0	0%	0
Pre-payments and
	Net	0	0%	0	0%	0
downpayments
	Gross AL	0	0%	0	0%	0
Amortisation AM		0	0%	0	0%	0
Sub Total Intangible asset	Net	11,359,547	-11.5 %	12,834,441	18.2 %	10,855,624

TANGIBLE FIXED ASSETS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Acquisition
	Net	0	0%	0	0%	0
difference
Gross	A11	0	0%	0	0%	0
Amortisation	A12	0	0%	0	0%	0
Goodwill	Net	0	0%	0	0%	0
Gross	A21	0	0%	0	0%	0
Amortisation	A22	0	0%	0	0%	0
Difference from the
	Net	0	0%	0	0%	0
first consolidation
Gross	A31	0	0%	0	0%	0
Amortisation	A32	0	0%	0	0%	0
Lands	Net	10,719,811	7.4 %	9,979,826	-7.5 %	10,788,772
Gross	AN	17,946,568	18.9 %	15,088,305	1.1 %	14,922,530
Amortisation	AO	7,226,757	41.5 %	5,108,479	23.6 %	4,133,758
Buildings	Net	31,954,448	0.1 %	31,913,417	-8.0 %	34,679,196
Gross	AP	59,752,050	11.3 %	53,679,465	-7.7 %	58,165,401
Amortisation	AQ	27,797,602	27.7 %	21,766,048	-7.3 %	23,486,205
Plant	Net	6,075,235	-9.0 %	6,676,117	-15.6 %	7,912,302
Gross	AR	19,120,048	8.9 %	17,551,932	-2.5 %	17,998,490
Amortisation	AS	13,044,813	19.9 %	10,875,815	7.8 %	10,086,188
Other tangible fixed
	Net	17,076,890	-6.0 %	18,159,882	4.3 %	17,412,577
assets
Gross	AT	30,727,340	10.3 %	27,847,857	8.0 %	25,793,913
Amortisation	AU	13,650,450	40.9 %	9,687,975	15.6 %	8,381,336
Fixed assets in
	Net	198	-100.0 %	422,737	0%	0
construction
Gross	AV	198	-100.0 %	422,737	0%	0
Amortisation	AW	0	0%	0	0%	0
Advances and
payments on	Net	0	0%	8,099	0%	0
account
Gross	AX	0	0%	8,099	0%	0
Amortisation	AY	0	0%	0	0%	0

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Sub Total Tangible asset
	Net	65,826,582	-2.0 %	67,160,078	-5.1 %	70,792,847

FINANCIAL ASSETS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
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	7,686,028	-0.2 %	7,704,029	0.2 %	7,686,029
Gross	CU	7,686,028	-0.2 %	7,704,029	0.2 %	7,686,029
Amortisation	CV	0	0%	0	0%	0
Inter-company
	Net	1,293,443	-26.3 %	1,753,954	0.2 %	1,749,916
receivables
Gross	BB	1,293,443	-26.3 %	1,753,954	0.2 %	1,749,916
Amortisation	BC	0	0%	0	0%	0
Other investment
	Net	10,339,212	0.9 %	10,243,672	-1.0 %	10,346,696
securities
Gross	BD	10,339,212	0.9 %	10,243,672	-1.0 %	10,346,696
Amortisation	BE	0	0%	0	0%	0
Loans	Net	9,688	0%	9,688	0%	9,688
Gross	BF	9,688	0%	9,688	0%	9,688
Amortisation	BG	0	0%	0	0%	0
Other financial
	Net	516,798	-0.8 %	521,051	0.1 %	520,410
assets
Gross	BH	516,798	-0.8 %	521,051	0.1 %	520,410
Amortisation	BI	0	0%	0	0%	0
Other financial
	Net	0	0%	0	0%	0
assets
Gross	A41	0	0%	0	0%	0
Amortisation	A42	0	0%	0	0%	0
Sub Total Financial
	Net	19,845,169	-1.9 %	20,232,394	-0.4 %	20,312,739
assets

CURRENT ASSETS (III)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total Assets	Net	1,114,990,890	73.2 %	643,755,443	-28.6 %	901,325,143
	Gross CJ	1,116,619,330	73.5 %	643,759,917	-28.8 %	904,757,997
Amortisation CK		1,628,440	36297.9 %	4,474	-99.9 %	3,432,855

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Goods for resale	Net	289,389,190	80377.5 %	359,590	-99.8 %	212,970,100
	Gross BT	290,897,306	80796.9 %	359,590	-99.8 %	215,888,964
Amortisation	BU	1,508,116	0%	0	0%	2,918,864
Sub Total Stocks Net		298,472,777	82903.6 %	359,590	-99.8 %	212,970,100

DEBTORS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Trade accounts
	Net	414,804,280	-4.7 %	435,353,322	6.0 %	410,782,272
receivable
	Gross BX	414,853,507	-4.7 %	435,357,796	5.9 %	410,971,311
Amortisation BY		49,227	1000.3 %	4,474	-97.6 %	189,039
Other debtors	Net	23,958,020	-11.7 %	27,120,481	102.3 %	13,408,101
	Gross BZ	24,029,117	-11.4 %	27,120,481	97.5 %	13,733,052
Amortisation CA		71,097	0%	0	0%	324,951
Capital subscribed
	Net	0	0%	0	0%	0
and called up
	Gross CB	0	0%	0	0%	0
Amortisation CC		0	0%	0	0%	0
Sub Total debtors Net		438,762,300	-5.1 %	462,473,803	9.0 %	424,190,373

DIVERS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Investment securities	Net	133,163,406	-1.8 %	135,536,978	-32.3 %	200,244,442
Gross	CD	133,163,406	-1.8 %	135,536,978	-32.3 %	200,244,442
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	212,787,650	1183.1 %	16,583,975	-56.3 %	37,942,163
Gross	CF	212,787,650	1183.1 %	16,583,975	-56.3 %	37,942,163
Amortisation CG		0	0%	0	0%	0
Sub Total Divers	Net	0	0%	0	0%	0

PREPAID EXPENSES

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Prepaid expenses Net	31,804,757	10.4 %	28,801,097	10.9 %	25,978,065
Gross CH	31,804,757	10.4 %	28,801,097	10.9 %	25,978,065
Amortisation CI	0	0%	0	0%	0

ACCOUNTS - PASSIVE

GRAND TOTAL - PASSIVE ACCOUNTS (I TO IV)

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Grand Total (I to

IV)

1,212,022,193

9.9 %

1,103,212,884

10.0 %

1,003,286,354

SHAREHOLDER EQUITY (I)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total shareholders' equity (Total I)	DL	130,340,574	4.2 %	125,108,347	8.4 %	115,391,334
Equity and shareholders' equity	DA	1,605,825	-0.3 %	1,610,400	0.9 %	1,596,675
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity	EK	0	0%	0	0%	0
differential	EK	0	0%	0	0%	0
Legal reserve	DD	0	0%	0	0%	0
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Other reserves	DG	123,668,207	8.6 %	113,909,689	25.8 %	90,524,867
Profits or losses	DH	0	0%	0	0%	0
brought forward	DH	0	0%	0	0%	0
Conversion differences	P1	-133,104	-31.5 %	-101,187	12.0 %	-115,029
Net result - group part	P2	5,199,646	-46.3 %	9,689,445	-58.6 %	23,384,822
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

PROVISIONS FOR RISKS AND CHARGES (III)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total provisions
for risks and	DR	25,657,337	-22.9 %	33,280,588	11.8 %	29,775,129
charges (Total III)
Conversion differences	P4	0	0%	0	0%	0
In reserves	P5	87,017	12.7 %	77,183	37.0 %	56,346
In results	P6	4,877	-47.2 %	9,244	-52.1 %	19,299
Total III	P7	91,894	6.3 %	86,427	14.3 %	75,645
Delayed tax	P8	15,474,452	17.9 %	13,128,497	41.0 %	9,312,537
Acquisition differences	P9	0	0%	0	0%	0
Risk provisions	DP	7,076,591	-61.3 %	18,267,917	-0.9 %	18,440,415
Reserves for charges	DQ	3,106,294	64.9 %	1,884,174	-6.8 %	2,022,177

LIABILITIES (IV)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total Liabilities (Total IV)	EC	1,055,932,384	11.8 %	944,737,517	10.1 %	858,044,244
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	59,799,521	7.8 %	55,459,519	-10.4 %	61,865,694
Sundry loans and financial liabilities	DV	1,901,971	34.3 %	1,416,734	4.9 %	1,349,999
Of which participating loans	EI	0	0%	0	0%	0
Advance payments
received for current	DW	0	0%	196,629	0%	0
orders
Trade accounts payables	DX	886,030,262	14.3 %	774,954,412	11.2 %	697,101,310
Tax and social security liabilities	DY	51,210,623	16.5 %	43,953,085	2.0 %	43,083,371
Fixed asset liabilities	DZ	1,837,764	-14.6 %	2,151,330	3047.4 %	68,352
Other debts	EA	55,152,243	-17.2 %	66,592,663	22.7 %	54,289,732

TRANSLATION LOSS (V)

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Translation loss

(Total V)

EQUALIZATION ACCOUNTS

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Deferred income	EB	0	0%	13,145	-95.4 %	285,782

Result account

1- OPERATING RESULT (I-II)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Operating result (Total I-II)	GG	-7,974,931	-186.9 %	9,172,478	-72.2 %	32,942,598

2 - FINANCIAL RESULT (V - VI)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Financial result (Total V-VI)	GV	4,870,350	184.2 %	1,713,867	-58.1 %	4,089,451

3 - PRE-TAX NET OPERATING INCOME RESULT (I - VI)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Pre-tax net operating income (Total I-II+II-IV+VVI)	GW	-3,054,530	-128.0 %	10,920,813	-70.6 %	37,126,667

4 - EXTRAORDINARY RESULT (VII-VIII)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Extraordinary result (Total VII-	HI	10,528,878	263.4 %	2,896,933	243.7 %	-2,015,591

CONSOLIDATION

differences		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Net result of
companies set in	R4	0	0%	0	0%	0
equivalence
Net result of
integrated	R5	0	0%	0	0%	0
companies
Group result
(consolidated net	R6	5,204,524	-46.3 %	9,698,692	-58.6 %	23,404,121
result)
Cross-reference : equipment leasing	R7	4,877	-47.2 %	9,244	-52.1 %	19,299
Cross-reference : property leasing	R8	5,199,646	-46.3 %	9,689,445	-58.6 %	23,384,822

OPERATING INCOME (I)

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Total operating

income (Total I)

10,615,607,585

9.8 %

9,670,811,132

22.5 %

7,893,800,278

OPERATING INCOME (DETAILS)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Sale of goods for resale	FC	10,600,672,758	9.7 %	9,660,362,514	22.5 %	7,887,419,440
France	FA	10,600,672,758	9.7 %	9,660,362,514	22.5 %	7,887,419,440
Export	FB	0	0%	0	0%	0
Sale of goods produced	FF	0	0%	0	0%	0
France	FD	0	0%	0	0%	0
Export	FE	0	0%	0	0%	0
Sale of services	FI	7,179,070	22.1 %	5,880,906	8.1 %	5,440,762
France	FG	7,179,070	22.1 %	5,880,906	8.1 %	5,440,762
Export	FH	0	0%	0	0%	0
Net turnover	FL	10,607,851,828	9.7 %	9,666,243,420	22.5 %	7,892,860,202
France	FJ	10,607,851,828	9.7 %	9,666,243,420	22.5 %	7,892,860,202
Export	FK	0	0%	0	0%	0
Stocked production	FM	0	0%	0	0%	0
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	15,000	-68.8 %	48,087	29.1 %	37,243
Release of reserves and provisions	FP	7,248,781	75.3 %	4,135,432	487.6 %	703,785
Other income	FQ	491,976	28.1 %	384,193	93.0 %	199,048

OPERATING CHARGES (II)

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Total operating

charges (Total II)

10,623,582,516

10.0 %

9,661,638,654

22.9 %

7,860,857,680

EXPLOITATION CHARGES

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Purchase of goods for resale	FS	10,360,251,693	7.6 %	9,627,090,945	25.0 %	7,701,895,254
Change in stocks of goods for resale	FT	47,954,157	133.4 %	-143,701,149	-4059.0 %	-3,455,192
Purchase of raw materials	FU	4,319,002	2440.9 %	169,976	21.0 %	140,521
Change in stocks of raw materials	FV	-9,083,587	0%	0	0%	0
Other external
purchases and	FW	46,394,430	-5.1 %	48,889,279	2.5 %	47,682,392
charges
Tax, duty and similar payments	FX	42,123,622	1.5 %	41,496,166	38.9 %	29,880,828
Payroll	FY	21,151,517	7.0 %	19,767,284	3.3 %	19,138,635
Social security costs	FZ	7,585,319	5.5 %	7,190,490	4.9 %	6,857,203

DEPRECIATION

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Depreciation of fixed assets	GA	12,922,995	-1.7 %	13,150,557	-22.1 %	16,872,953
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1,523,822	145999.9 %	1,043	-99.7 %	318,676
Provisions for risks and charges	GD	965,700	-44.7 %	1,747,851	219.4 %	547,158

OTHER CHARGES

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Other charges	GE	87,473,846	90.8 %	45,836,212	11.9 %	40,979,252

OPERATING CHARGES (III-IV)

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Share of jointventure

transferred to other partner(s) (Total III)

50,051

45.2 %

34,468

-63.6 %

94,618

Share of joint

Venture transferred from

other partner(s) (Total IV)

FINANCIAL INCOME (V)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total financial income (Total V)	GP	6,155,912	41.1 %	4,361,411	-25.2 %	5,833,368
Share financial income	GJ	1,023,911	-1.5 %	1,039,890	345.0 %	233,709
Other investment
income & capitalised	GK	505,370	61.6 %	312,686	-20.1 %	391,106
receivables
Other interest and similar income	GL	1,550,037	529.2 %	246,339	-2.5 %	252,713
Released provisions
and transferred	GM	0	0%	0	0%	0
charges
Exchange gains	GN	255,989	14.0 %	224,646	-93.5 %	3,444,184

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Net income from disposal of investment securities	2,820,605	11.1 %	2,537,850	67.9 %	1,511,656

FINANCIAL CHARGE (VI)


	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total financial charge (Total VI)	1,285,562	-51.4 %	2,647,544	51.8 %	1,743,917
Financial reserves and provisions	0	0%	1,247,353	0%	0
Interest and similar charges	374,598	-54.9 %	831,300	20.5 %	689,801
Exchange losses GS	910,964	60.1 %	568,891	-46.0 %	1,054,116
Net loss from
disposal of investment	0	0%	0	0%	0
securities

EXTRAORDINARY INCOME (VII)

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total extraordinary income (Total VII)	12,584,243	185.5 %	4,407,867	221.4 %	1,371,579
Extraordinary operating income	1,220,975	548.6 %	188,257	41.2 %	133,333
Extraordinary income
from capital HB	206,105	-45.7 %	379,427	1728.9 %	20,746
transactions
Released provisions
and transferred HC	11,157,163	190.5 %	3,840,183	215.4 %	1,217,500
charges

EXTRAORDINARY CHARGES (VIII)

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Total extraordinary H charges (Total VIII)	2,055,365	36.0 %	1,510,934	-55.4 %	3,387,170
Extraordinary operating charges	146,169	1229.7 %	10,993	-92.4 %	144,867
Extraordinary
charges from capital HF	110,008	-77.0 %	477,941	533.0 %	75,502
transactions
Extraordinary
reserves and HG	1,799,188	76.0 %	1,022,000	-67.7 %	3,166,801
provisions

EMPLOYEE PROFIT SHARING (IX)

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Employee profit sharing (Total IX)	0	0%	0	0%	0

TAX ON PROFITS (X)

		31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Tax on profits (Total X)	HK	-407,986	-235.5 %	301,181	-96.6 %	8,748,525

Ratios

STRUCTURE AND LIQUIDITY

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Fixed Asset Financing	1.64	-2.4 %	1.68	1.8 %	1.65
Global Debt	35.84 days	1.9 %	35.18 days	-10.1 %	39.14 days
Working Capital Fund overall net	4.10 days	-4.2 %	4.28 days	-11.8 %	4.85 days
Financial independence	217.96 %	-3.4 %	225.58 %	20.9 %	186.52 %
Solvability	10.75 %	-5.2 %	11.34 %	-1.4 %	11.50 %

MANAGEMENT OR ROTATION

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Need background in
operating working	-8.72 days	44.9 %	-15.83 days	-120.5 %	-7.18 days
capital
Treasury	11.74 days	107.1 %	5.67 days	-47.8 %	10.86 days
Inventory turnover of goods	10.06 days	100500.0 %	0.01 days	-99.9 %	10.10 days
Inventory turnover
of raw materials in	757.14 days	0%	0.00 days	0%	0.00 days
industrial enterprises
Inventory turnover
of intermediate and
finished products in	0.00 days	0%	0.00 days	0%	0.00 days
the industrial
enterprise

PROFITABILITY OF THE BUSINESS

	31/12/2013	Variation	31/12/2011	Variation	31/12/2010
Margin trading 10,600,672, 659.88 %		9.7 %	9,660,362,415.89 %	22.5 %	7,887,419,342.46 %
Profitability of the business	0.82 %	20.6 %	0.68 %	-40.9 %	1.15 %
Rates integration	1.49 %	8.0 %	1.38 %	-25.8 %	1.86 %
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %
Weight interests	0.01 %	-66.7 %	0.03 %	50.0 %	0.02 %

RETURN ON CAPITAL

31/12/2013

Variation

31/12/2011

Variation

31/12/2010

Rates of economic profitability

45.39 %

26.3 %

35.93 %

-29.3 %

50.81 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.67
UK Pound	1	Rs.93.16
Euro	1	Rs.66.42

INFORMATION DETAILS

Analysis Done by :	RAS

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.

MIRA INFORM REPORT

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