MIRA INFORM REPORT

Report No. :	320544
Report Date :	04.05.2015

IDENTIFICATION DETAILS

Name :

AGORA DISTRIBUTION

Registered Office :

13-15 La Plaine Saint Denis, 13 Av De La Metallurgie, 93210 Saint Denis

Country :

France

Financials (as on) :

31.12.2013

Date of Incorporation :

July, 2008

Com. Reg. No.:

505 271 528

Legal Form :

Simplified Joint Stock Company

Line of Business :

Wholesale of Clothing and Footwear

No. of Employees :

100 to 199 Employees

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

NOTES:

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

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

France

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

FRANCE - ECONOMIC OVERVIEW

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

Source : CIA

Company Name

Name	AGORA DISTRIBUTION

company summary

Activity (APE)	Wholesale (business to business) clothing and footwear (4642Z)	EUR VAT Number	FR58505271528
Phone	01 60 33 44 90	Legal form	Simplified joint stock company
Fax	-	RCS Registration	RCS Bobigny 0 505 271 528
Address	AGORA DISTRIBUTION 13-15 LA PLAINE SAINT DENIS 13 AV DE LA METALLURGIE 93210 SAINT DENIS	Share capital	11,300,000 Euros
Nationality	France	Incorporated Date	07/2008
Status	Economically active

Payment Information Summary

Payment Information Summary - Trade Payment Data
Total number of Invoices available	18
Total number of Invoices paid within or up to 30 days after the due date	9
Total number of Invoices paid more than 30 days after the due date	6
Total number of Invoices currently outstanding where the due date has not yet been reached	3
Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

Ultimate Holding Company

Company Name			Company number
ERAM			388583239

Current Directors

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	235,721,087 €	218,433,212 €	219,397,364 €
Gross Operating Surplus	1.04 % Turnover	2.38 % Turnover	2.37 % Turnover
Shareholders’ equity	425,220 €	3,965,067 €	1,476,175 €
Net result	-10,839,847 €	-35,008 €	-2,172,528 €
Employees	100 to 199 employees	-	-

Company details

Activity (APE)	Wholesale (business to business) clothing and footwear (4642Z)
RCS Registration	RCS Bobigny 0 505 271 528	Share capital	11,300,000 Euros
Registration Court	Bobigny (93)	Legal form	Simplified joint stock company
Court Registry Number	20 0 8B04898	EUR VAT Number	FR58505271528
Incorporation Date	07/2008	Formation Date	06/2008
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Ultimate Parent

1 ultimate parent company for this company
> ERAM - Activités des sièges sociaux (7010Z) in SAINT PIERRE MONTLIMART (49110)

Establishment details

Activity (APE)	Wholesale (business to business) clothing and footwear (4642Z)	Business Pages FT®	FABRICATION DE VETEMENTS POUR HOMMES
Postal Address	AGORA DISTRIBUTION 13-15 LA PLAINE SAINT DENIS 13 AV DE LA METALLURGIE 93210 SAINT DENIS	Trading Address	13 AVENUE DE LA METALLURGIE 93210 SAINT DENIS
Telephone	01 60 33 44 90
Fax	-

Type	Head office	Status	Economically active
Formation Date	07/2012	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department		Region	Ile-de-France
District		Area
City	SAINT DENIS	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> AGORA DISTRIBUTION <<< - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in SAINT DENIS (93210)

Secondary establishments

> AGORA DISTRIBUTION - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) in PANTIN (93500)

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

Workforces

Workforce at address

Workforce unknown

Company workforce

100 to 199 employees

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	31/12/2012	31/12/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	25/07/2014	29/07/2013	11/09/2012
Activity Code	4642Z	4642Z	4642Z
Employees	164	160	164

Active account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	2,126,651	-80.8%	11,091,290	224.8%	3,415,017	45,932.50	4529.9%
- Intangible assets	137,616	-87.7%	1,123,385	-37.3%	1,792,313	6,593.50	1987.1%
- Tangible assets	1,637,808	-16.6%	1,963,093	113.0%	921,784	5,822.50	28028.9%
- Financial assets	351,227	-95.6%	8,004,812	1042.0%	700,920	6,297.50	5477.2%
Net current assets	88,954,592	10.7%	80,365,763	-12.0%	91,353,068	223,854.50	39637.7%
- Stocks	33,077,321	15.7%	28,577,200	-10.5%	31,946,530	57,307	57619.5%
- Advanced payments	2,459,732	10.7%	72,174	69.2%	42,645	0	0%
- Receivables	48,623,022	-5.1%	51,234,019	1.4%	50,542,937	63,757	76163.0%
- Securities and cash	4,794,517	894.0%	482,370	-94.5%	8,820,956	36,775.50	12937.3%
- Prepaid expenses	-	-	-	-	-	57	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	91,081,243	-0.4%	91,457,051	-3.5%	94,768,088	309,418	29336.3%

Passive Account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Shareholders' equity	425,220	-89.3%	3,965,067	168.6%	1,476,175	67,666.50	528.4%
Share capital	11,300,000	182.5%	4,000,000	0%	4,000,000	9,000	125455.6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1,017,612	-12.2%	1,159,585	23.6%	938,151	0	0%
Liabilities	89,638,411	3.8%	86,332,399	-6.5%	92,353,763	204,922.50	43642.6%
- Financial liabilities	60,334,292	16.2%	51,939,262	-22.1%	66,652,074	14,383.50	419368.8%
- Advanced payments received	47,742	0%	0	0%	0	0	0%
- Trade account payables	24,355,125	-19.8%	30,372,805	37.3%	22,125,140	71,028	34189.5%
- Tax and social liabilities	4,901,252	22.0%	4,017,461	13.0%	3,555,018	43,089	11274.7%
- Other debts and fixed assets liabilities	0	0%	0	0%	21,531	9,295	0%
Account regularization	0	0%	2,871	0%	0	0	0%
Total liabilities	91,081,243	-0.4%	91,457,051	-3.5%	94,768,088	309,419	29336.2%

Results

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Sales of Goods	236,804,870	7.7%	219,827,408	-0.9%	221,813,651	444,259.50	53203.3%
Net turnover	235,721,087	7.9%	218,433,212	-0.4%	219,397,364	439,216	53568.6%
- of which net export turnover	5,904,070	282.4%	1,544,036	-85.1%	10,382,176	1,592	370758.7%
Operating charges	235,599,773	9.0%	216,062,916	-0.6%	217,420,918	449,255.50	52342.3%
Operating profit/loss	1,205,097	-68.0%	3,764,492	-14.3%	4,392,733	6,995	17128.0%
Financial income	357,316	72.1%	207,569	-26.3%	281,519	01	35731500%
Financial charges	12,277,995	692.5%	1,549,358	-22.6%	2,001,445	564.50	2174921.3%
Financial profit/loss	-11,920,679	-788.4%	-1,341,789	22.0%	-1,719,926	-54.50	-21872705.5%
Pretax net operating income	-10,715,582	-542.3%	2,422,703	-9.4%	2,672,807	5,718	-187500.9%
Extraordinary income	2,476,500	56.6%	1,581,640	24993.4%	6,303	0	0%
Extraordinary charges	2,600,766	-45.1%	4,739,351	-1.5%	4,813,412	184	1413359.8%
Extraordinary profit/loss	-124,266	96.1%	-3,157,711	34.3%	-4,807,109	0	0%
Net result	-10,839,847	-30863.9%	-35,008	98.4%	-2,172,528	6,794.50	-159638.6%

Display parameter
Currency	Euro	Kilo Euro

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

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Grand Total (I to VI)	Net	91,081,243	-0.4%	91,457,051	-3.5%	94,768,088
	Gross	CO	110,818,231	10.6%	100,168,098	-4.7%	105,162,250
	Amortisation	1A	19,736,988	126.6%	8,711,047	-16.2%	10,394,162

Non declared distributed capital (I)

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

Active fixed asset (II)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total Active fixed asset (II)	Net	2,126,651	-80.8%	11,091,290	224.8%	3,415,017
	Gross	BJ	21,474,781	22.3%	17,555,750	56.1%	11,243,399
	Amortisation	BK	19,348,130	199.3%	6,464,460	-17.4%	7,828,382

Intangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Distributorships, patents	Net	137,616	-87.7%	1,123,385	-37.0%	1,783,813
	Gross	AF	6,008,008	1.0%	5,949,293	3.4%	5,755,523
	Amortisation	AG	5,870,392	21.6%	4,825,908	21.5%	3,971,710
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other intangible fixed assets	Net	0	0%	0	0%	8,500
	Gross	AJ	0	0%	0	0%	8,500
	Amortisation	AK	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	137,616	-87.7%	1,123,385	-37.3%	1,792,313

Tangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Lands	Net	0	0%	780,120	0%	0
	Gross	AN	0	0%	962,024	0%	0
	Amortisation	AO	0	0%	181,904	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Buildings	Net	732,584	1279.8%	53,092	-88.1%	447,811
	Gross	AP	1,050,841	888.0%	106,361	-96.2%	2,766,234
	Amortisation	AQ	318,257	497.5%	53,269	-97.7%	2,318,423
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Plant	Net	39,850	-95.2%	828,534	1870.0%	42,058
	Gross	AR	106,361	-95.2%	2,231,913	1512.6%	138,401
	Amortisation	AS	66,511	-95.3%	1,403,379	1356.6%	96,343
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other tangible fixed assets	Net	865,374	187.2%	301,347	-28.4%	420,748
	Gross	AT	2,582,344	756.9%	301,347	-83.8%	1,862,654
	Amortisation	AU	1,716,970	0%	0	0%	1,441,906
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Fixed assets in construction	Net	0	0%	0	0%	11,167
	Gross	AV	0	0%	0	0%	11,167
	Amortisation	AW	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	1,637,808		1,963,093		921,784

Financial assets

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other participations	Net	100,000	-94.7%	1,900,000	171.4%	700,000
	Gross	CU	11,476,000	504.0%	1,900,000	171.4%	700,000
	Amortisation	CV	11,376,000	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Loans	Net	0	0%	6,104,692	0%	0
	Gross	BF	0	0%	6,104,692	0%	0
	Amortisation	BG	0		0		0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other financial assets	Net	251,227	209255.8%	120	-87.0%	920
	Gross	BH	251,227	209255.8%	120	-87.0%	920
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		351,227		8,004,812		700,920

Current Assets (III)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total Assets	Net	88,954,592	10.7%	80,365,763	-12.0%	91,353,068
	Gross	CJ	89,343,450	8.1%	82,612,349	-12.0%	93,918,849
	Amortisation	CK	388,858	-82.7%	2,246,586	-12.4%	2,565,781

Stocks

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Goods for resale	Net	33,077,321	15.7%	28,577,200	-10.5%	31,946,530
	Gross	BT	33,466,179	15.9%	28,867,786	-11.3%	32,556,311
	Amortisation	BU	388,858	33.8%	290,586	-52.3%	609,781
	Sub Total Stocks	Net	33,077,321	15.7%	28,577,200	-10.5%	31,946,530

Advance payments to suppliers

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Advance payments to suppliers	Net	2,459,732	3308.1%	72,174	69.2%	42,645
	Gross	BV	2,459,732	3308.1%	72,174	69.2%	42,645
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Trade accounts receivable	Net	45,822,248	8.4%	42,256,502	-9.7%	46,776,808
	Gross	BX	45,822,248	3.6%	44,212,502	-9.3%	48,732,808
	Amortisation	BY	0	0%	1,956,000	0%	1,956,000
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other debtors	Net	1,661,576	6.5%	1,560,098	54.3%	1,011,307
	Gross	BZ	1,661,576	6.5%	1,560,098	54.3%	1,011,307
	Amortisation	CA	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	47,483,824	8.4%	43,816,600	-8.3%	47,788,115

Divers

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Cash and cash equivalents	Net	4,794,517	894.0%	482,370	-94.5%	8,820,956
	Gross	CF	4,794,517	894.0%	482,370	-94.5%	8,820,956
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	4,794,517	894.0%	482,370	-94.5%	8,820,956

Prepaid expenses

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Prepaid expenses	Net	1,139,198	-84.6%	7,417,419	169.3%	2,754,822
	Gross	CH	1,139,198	-84.6%	7,417,419	169.3%	2,754,822
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

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

References

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

Display parameter
Currency	Euro	Kilo Euro

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	Grand Total (I to V)	EE	91,081,243	-0.4%	91,457,051	-3.5%	94,768,088

Shareholder Equity (I)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total shareholders' equity (Total I)	DL	425,220	-89.3%	3,965,067	168.6%	1,476,175
	Equity and shareholders' equity	DA	11,300,000	182.5%	4,000,000	0%	4,000,000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	0	0%	0	0%	0
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-34,933	-46677.3%	75	100.0%	-351,297
	Profit or loss for the period	DI	-10,839,847	-30863.9%	-35,008	98.4%	-2,172,528
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total provisions for risks and charges (Total III)	DR	1,017,612	-12.2%	1,159,585	23.6%	938,151
	Risk provisions	DP	762,000	-14.7%	892,850	69.0%	528,350
	Reserves for charges	DQ	255,612	-4.2%	266,735	-34.9%	409,801

Liabilities (IV)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total Liabilities (Total IV)	EC	89,638,411	3.8%	86,332,399	-6.5%	92,353,763
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	51,512,658	-0.8%	51,926,812	7.0%	48,516,503
	Sundry loans and financial liabilities	DV	8,821,634	70756.5%	12,450	-99.9%	18,135,571
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	47,742	0%	0	0%	0
	Trade accounts payables	DX	24,355,125	-19.8%	30,372,805	37.3%	22,125,140
	Tax and social security liabilities	DY	4,901,252	22.0%	4,017,461	13.0%	3,555,018
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	0	0%	0	0%	21,531

Translation loss (V)

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

Equalization accounts

			31/12/2013		31/12/2012		31/12/2011
	Deferred income	EB	0	0%	2,871	0%	0

References

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

Display parameter
Currency	Euro	Kilo Euro

1- Operating result (I-II)

			31/12/2013		31/12/2012		31/12/2011
	Operating result (Total I-II)	GG	1,205,097	-68.0%	3,764,492	-14.3%	4,392,733

2 - Financial result (V - VI)

			31/12/2013		31/12/2012		31/12/2011
	Financial result (Total V-VI)	GV	-11,920,679	-788.4%	-1,341,789	22.0%	-1,719,926

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

			31/12/2013		31/12/2012		31/12/2011
	Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-10,715,582	-542.3%	2,422,703	-9.4%	2,672,807

4 - Extraordinary result (VII-VIII)

			31/12/2013		31/12/2012		31/12/2011
	Extraordinary result (Total VII-VIII)	HI	-124,266	96.1%	-3,157,711	34.3%	-4,807,109

Profit or loss

			31/12/2013		31/12/2012		31/12/2011
	Profit or loss	HN	-10,839,847	-30863.9%	-35,008	98.4%	-2,172,528

Total Income (I+III+V+VII)

			31/12/2013		31/12/2012		31/12/2011
	Total Income (I+III+V+VII)	HL	239,638,686	8.1%	221,616,617	-0.2%	222,101,473

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

			31/12/2013		31/12/2012		31/12/2011
	Total charges (Total II+IV+VI+VIII+IX+X)	HM	250,478,534	13.0%	221,651,625	-1.2%	224,274,000

Operating income (I)

			31/12/2013		31/12/2012		31/12/2011
	Total operating income (Total I)	FR	236,804,870	7.7%	219,827,408	-0.9%	221,813,651

Operating income (details)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Sale of goods for resale	FC	205,412,254	4.2%	197,144,579	-0.2%	197,627,501
	France	FA	200,510,236	2.4%	195,733,646	4.0%	188,121,036
	Export	FB	4,902,018	247.4%	1,410,933	-85.2%	9,506,465
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Sale of goods produced	FF	0	0%	0	0%	1,604,346
	France	FD	0	0%	0	0%	991,791
	Export	FE	0	0%	0	0%	612,555
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Sale of services	FI	30,308,833	42.4%	21,288,633	5.6%	20,165,517
	France	FG	29,306,781	38.5%	21,155,530	6.3%	19,902,361
	Export	FH	1,002,052	652.8%	133,103	-49.4%	263,156
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Net turnover	FL	235,721,087	7.9%	218,433,212	-0.4%	219,397,364
	France	FJ	229,817,017	6.0%	216,889,176	3.8%	209,015,188
	Export	FK	5,904,070	282.4%	1,544,036	-85.1%	10,382,176
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	877,601	-33.5%	1,320,081	-42.2%	2,282,096
	Other income	FQ	206,182	178.2%	74,115	-44.8%	134,191

Operating charges (II)

			31/12/2013		31/12/2012		31/12/2011
	Total operating charges (Total II)	GF	235,599,773	9.0%	216,062,916	-0.6%	217,420,918

Exploitation charges

		31/12/2013		31/12/2012		31/12/2011
Purchase of goods for resale	FS	195,204,758	14.0%	171,219,054	-5.8%	181,717,057
Change in stocks of goods for resale	FT	-4,598,393	-224.7%	3,688,525	375.2%	-1,340,262
Purchase of raw materials	FU	1,223,644	9.5%	1,116,978	11.0%	1,006,375
Change in stocks of raw materials	FV	200,578	48.6%	134,987	0%	0
Other external purchases and charges	FW	28,479,781	15.7%	24,618,115	17.9%	20,872,538
Tax, duty and similar payments	FX	1,251,654	36.0%	920,463	3.7%	887,778
Payroll	FY	8,010,070	0.1%	8,000,906	3.7%	7,712,780
Social security costs	FZ	3,503,954	-0.8%	3,533,761	5.6%	3,345,370

Depreciation

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	1,301,661	-9.6%	1,439,543	-24.1%	1,896,566
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	388,858	33.8%	290,586	-52.3%	609,781
Provisions for risks and charges	GD	515,042	-52.0%	1,074,123	197.7%	360,816

Other charges

			31/12/2013		31/12/2012		31/12/2011
	Other charges	GE	118,166	356.7%	25,875	-92.7%	352,119

Operating charges (III-IV)

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

Financial income (V)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total financial income (Total V)	GP	357,316	72.1%	207,569	-26.3%	281,519
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	150,936	5.7%	142,752	0%	0
	Other interest and similar income	GL	206,381	218.4%	64,817	-76.7%	278,302
	Released provisions and transferred charges	GM	0	0%	0	0%	3,217
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total financial charge (Total VI)	GU	12,277,995	692.5%	1,549,358	-22.6%	2,001,445
	Financial reserves and provisions	GQ	11,376,000	0%	0	0%	0
	Interest and similar charges	GR	901,995	-41.8%	1,549,358	-22.6%	2,001,445
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total extraordinary income (Total VII)	HD	2,476,500	56.6%	1,581,640	24993.4%	6,303
	Extraordinary operating income	HA	450,000	0%	0	0%	6,303
	Extraordinary income from capital transactions	HB	500	-98.7%	39,252	0%	0
	Released provisions and transferred charges	HC	2,026,000	31.4%	1,542,388	0%	0

Extraordinary charges (VIII)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total extraordinary charges (Total VIII)	HH	2,600,766	-45.1%	4,739,351	-1.5%	4,813,412
	Extraordinary operating charges	HE	2,388,899	-24.6%	3,166,821	117.3%	1,457,412
	Extraordinary charges from capital transactions	HF	4,867	-99.5%	1,007,700	0%	0
	Extraordinary reserves and provisions	HG	207,000	-63.4%	564,830	-83.2%	3,356,000

Employee profit sharing (IX)

			31/12/2013		31/12/2012		31/12/2011
	Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

			31/12/2013		31/12/2012		31/12/2011
	Tax on profits (Total X)	HK	0	0%	-700,000	-1931.3%	38,225

References

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

Display parameter
Currency	Euro	Kilo Euro

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

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	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	298,415	0%	0	0%	0
	Decreasess by transfers	OK2	6,110,670	106.9%	2,953,659	0%	0
	Gross value at the end of period	OL	21,474,780	22.3%	17,555,750	56.1%	11,243,400

Research and development Charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Gross value at begin of period	KD	5,949,293	3.2%	5,764,023	5.3%	5,473,799
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	58,715	-73.2%	219,298	-24.4%	290,224
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	34,029	0%	0
	Gross value at the end of period	LW	6,008,008	1.0%	5,949,292	3.2%	5,764,023

Tangible fixed assets (Total III)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Gross value at begin of period	LN	3,601,644	-24.6%	4,778,456	7.4%	4,448,681
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	442,174	-74.6%	1,742,820	428.5%	329,775
	Decreasess by budget item transfer	NG1	298,415	0%	0	0%	0
	Decreasess by transfers	NG2	5,858	-99.8%	2,919,630	0%	0
	Gross value at the end of period	NH	3,739,545	3.8%	3,601,646	-24.6%	4,778,456

Fiancial assets (Total IV)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Gross value at begin of period	LQ	8,004,812	1042.0%	700,920	0.0%	700,890
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	9,827,227	34.5%	7,303,892	24346206.7%	30
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	6,104,812	0%	0	0%	0
	Gross value at the end of period	NK	11,727,227	46.5%	8,004,812	1042.0%	700,920

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

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Reserve for depreciation value at begin of period	PE	4,825,908	21.5%	3,971,710	40.8%	2,820,258
Increases		PF	1,044,484	18.7%	879,726	-23.6%	1,151,452
Decreasess		PG	0	0%	25,529	0%	0
	Decreasess by budget item transfer	PH	5,870,392	21.6%	4,825,907	21.5%	3,971,710

Total fixed assets amotisation (Total III)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Reserve for depreciation value at begin of period	QU	1,638,553	-33.3%	2,456,671	43.5%	1,711,557
Increases		QV	464,176	-17.1%	559,816	-24.9%	745,114
Decreases		QW	991	-99.9%	1,377,935	0%	0
	Decreasess by budget item transfer	QX	2,101,738	28.3%	1,638,552	-33.3%	2,456,671

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Value at begining of period	7C	3,406,171	-30.5%	4,903,931	71.5%	2,859,431
Increases		UB	12,279,900	799.8%	1,364,709	-68.5%	4,326,597
Decreases		UC	2,903,601	1.4%	2,862,469	25.4%	2,282,096
	Value at the end of period	UD	12,782,470	275.3%	3,406,171	-30.5%	4,903,932

Includes Total allocations

Operating	UE	903,900	-33.8%	1,364,709	-41.1%	2,318,413
Financial	UG	11,376,000	0%	0	0%	1,089,760
Exceptional	UJ	0	0%	0	0%	918,423

Includes Total Withdrawal

Operating	UF	877,601	-33.5%	1,320,081	-42.2%	2,282,096
Financial	UH	0	0%	0	0%	0
Exceptional	UK	2,026,000	31.4%	1,542,388	0%	0

Total regulated provisions (Total I)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Value at begining of period	5Z	1,159,585	23.6%	938,151	-14.1%	1,092,649
Increases		TV	515,042	-52.0%	1,074,123	197.7%	360,816
Decreases		TW	657,015	-22.9%	852,689	65.5%	515,314
	Value at the end of period	TX	1,017,612	-12.2%	1,159,585	23.6%	938,151

Total Provision for depreciation (Total III)

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Value at begining of period	7B	2,246,586	-43.4%	3,965,781	124.5%	1,766,782
Increases		TY	11,764,858	3948.7%	290,586	-92.7%	3,965,781
Decreases		TZ	2,246,586	11.8%	2,009,781	13.8%	1,766,782
	Value at the end of period	UA	11,764,858	423.7%	2,246,586	-43.4%	3,965,781

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	48,874,250	-17.6%	59,294,831	12.9%	52,499,858
1 year at most	VU	48,874,250	-17.6%	59,294,831	27.2%	46,609,308
More than one year	VV	0	0%	0	0%	5,890,550

State of loans

		31/12/2013		31/12/2012		31/12/2011
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	6,104,692	0%	0
Loans (1 year at most)	UR	0	0%	6,104,692	0%	0
Other financial assets (gross)	UT	251,227	209255.8%	120	-87.0%	920
Other financial assets (1 year at most)	UV	251,227	209255.8%	120	-87.0%	920

Receivables statement of assets

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	45,822,248	3.6%	44,212,502	-9.3%	48,732,808
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	625	-93.6%	9,725	574.4%	1,442
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	24,099	0%	24,099	0%	0
Value added tax	VB	1,342,035	71.6%	782,022	-19.3%	969,201
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	200,000	-71.4%	700,000	0%	0
Group and Associates	VC	94,818	148.2%	38,209	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	6,043	-85.1%	40,664

Prepaid

			31/12/2013		31/12/2012		31/12/2011
	Prepaid	VS	1,139,198	-84.6%	7,417,419	169.3%	2,754,822

State Debt

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Total debt (gross)	VY	89,590,669	3.8%	86,332,400	-6.5%	92,353,762
1 year at most		VZ2	89,590,669	157.2%	34,832,400	35.4%	25,718,191
More than 1 year and 5 years at most		VZ3	0	0%	51,500,000	-22.7%	66,635,571
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2013		31/12/2012		31/12/2011
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	51,512,658	-0.8%	51,926,812	7.0%	48,516,503
1 year at most		VG2	51,512,658	11969.2%	426,812	2486.3%	16,503
More than 1 year and 5 years at most		VG3	0	0%	51,500,000	6.2%	48,500,000
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Loans and various financial liabilities (gross)	8A1	8,821,634	70756.5%	12,450	-99.9%	18,135,571
1 year at most		8A2	8,821,634	70756.5%	12,450	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	18,135,571
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Suppliers and associated accounts (gross)	8B1	24,355,125	-19.8%	30,372,805	37.3%	22,125,140
1 year at most		8B2	24,355,125	-19.8%	30,372,805	37.3%	22,125,140
More than 1 year and 5 years at most		8B3	24,355,125	-19.8%	30,372,805	37.3%	22,125,140
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Personnel and associated accounts (gross)	8C1	743,196	-7.2%	801,135	-2.0%	817,458
1 year at most		8C2	743,196	-7.2%	801,135	-2.0%	817,458
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Social Security and other social organizations (gross)	8D1	1,187,554	9.1%	1,088,860	0.8%	1,079,951
1 year at most		8D2	1,187,554	9.1%	1,088,860	0.8%	1,079,951
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	VAT (gross)	VW1	2,284,305	55.9%	1,465,433	36.4%	1,074,080
1 year at most		VW2	2,284,305	55.9%	1,465,433	36.4%	1,074,080
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other taxes and assimilated (gross)	VQ1	686,197	3.6%	662,033	13.5%	583,529
1 year at most		VQ2	686,197	3.6%	662,033	13.5%	583,529
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Other liabilities (gross)	8K1	0	0%	0	0%	21,531
1 year at most		8K2	0	0%	0	0%	21,531
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_minus.gif$	Products in advance (gross)	8L1	0	0%	2,871	0%	0
1 year at most		8L2	0	0%	2,871	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
Loans made during the period	VJ	8,752,000	0%	0	0%	20,500,000
Debt repaid during the period	VK	0	0%	0	0%	2,000,000

Table allocation results and other information
Dividends distributed

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

Commitments

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

Other charges Externes

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

Taxes and Fees

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

VAT

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

Average number of employees

			31/12/2013		31/12/2012		31/12/2011
	Average number of employees	YP	164	2.5%	160	-2.4%	164

Groups and Shareholders

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

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Fixed Asset Financing	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	3.78	4.4%	3.62	-47.1%	6.84	1.92	96.9%
Global Debt	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	137 days	-3.5%	142 days	-6.6%	152 days	140 days	-2.1%
Working Capital Fund overall net	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	91 days	19.7%	76 days	-29.6%	108 days	47 days	93.6%
Financial independence	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0.70%	-90.8%	7.63%	245.2%	2.21%	118.30%	-99.4%
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_plus.gif$
Solvability	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0.47%	-89.2%	4.34%	178.2%	1.56%	27.16%	-98.3%
Capacity debt futures	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0.83%	-78.3%	3.83%	152.0%	1.52%	1317.81%	-99.9%
Coverage of current assets by net working capital overall	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	67.63%	10.6%	61.14%	-15.1%	72.01%	31.40%	115.4%
General Liquidity	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0.55	-67.6%	1.70	-6.1%	1.81	0.40	37.5%
Restricted Liquidity	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0.60	-65.1%	1.72	-20.4%	2.16	0.71	-15.5%

Management or rotation

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Need background in operating working capital	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	82 days	30.2%	63 days	-29.2%	89 days	10 days	720.0%
Treasury	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	7 days	600%	1 days	-92.9%	14 days	8 days	-12.5%
Inventory turnover of goods	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	63 days	6.8%	59 days	-9.2%	65 days	92 days	-31.5%
Average length of credit granted to customers	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	70 days	-4.1%	73 days	-8.8%	80 days	32 days	118.8%
Average length of credit obtained suppliers	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	40 days	-25.9%	54 days	38.5%	39 days	62 days	-35.5%
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_plus.gif$
Inventory turnover of raw materials in industrial enterprises	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	days	-	days	-	4591 days	1507 days	-
Rotation tangible assets	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	6303.47%	3.9%	6064.82%	32.1%	4591.39%	1948.48%	223.5%

Profitability of the business

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Margin trading	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	6.28%	-38.3%	10.18%	29.5%	7.86	32.34%	-80.6%
Profitability of the business	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	1.04	-56.3%	2.38	0.4%	2.37	2.48%	-58.1%
Net profit	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	-4.60%	-22900%	-0.02%	98.0%	-0.99%	1.54%	-398.7%
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\button_plus.gif$
Growth rate of turnover (excluding VAT)	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	7.91%	1897.7%	-0.44%	92.8%	-6.12%	0%	0%
Rates integration	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	6.45%	-20.2%	8.08%	3.5%	7.81%	17.89%	-63.9%
Rate leasing furniture	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	0%	0%	0%	0%	0%	0%	0%
Work Factor	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	75.70%	15.9%	65.33%	1.3%	64.51%	70.42%	7.5%
Weight interests	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	5.21	633.8%	0.71%	-22.0%	0.91%	0.16%	3156.2%

Return on capital

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Cash flow from the overall profitability	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	-0.36%	-1300%	0.03%	-91.7%	0.36%	2.13%	-116.9%
Rates of economic profitability	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	4%	-55.6%	9%	12.5%	8%	12%	-66.7%
Financial profitability	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	425220%	-89.3%	3965067%	168.6%	1476175%	34467%	1133.7%
Return on investment	$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	2.37%	-12.5%	2.71%	1184.0%	-0.25%	9.44%	-74.9%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Turnover	235,721,087	7.9%	218,433,212	-0.4%	219,397,364	439,216 €	53568.6%

Sales of goods	205,412,254	4.2%	197,144,579	-0.2%	197,627,501
- Purchase of goods	195,204,758	14.0%	171,219,054	-5.8%	181,717,057
+/- Stock of goods variation	-4,598,393	-224.7%	3,688,525	375.2%	-1,340,262
Trading margin	14,805,889 €	-33.4%	22,237,000 €	28.9%	17,250,706 €	125,620 €	11686.3%
	6.28 % CA	-38.3%	10.18 % CA	29.5%	7.86 % CA	33.63 % CA	-81.3%

Sale of goods produced	30,308,833	42.4%	21,288,633	-2.2%	21,769,863
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	30,308,833 €	42.4%	21,288,633 €	-2.2%	21,769,863 €	2,327 €	1302385.3%
	12.86 % CA	31.9%	9.75 % CA	-1.7%	9.92 % CA	1.03 % CA	1148.5%

Trading margin	14,805,889	-33.4%	22,237,000	28.9%	17,250,706	125,620	11686.3%
+ Period Production	30,308,833	42.4%	21,288,633	-2.2%	21,769,863	2,327	1302385.3%
- Purchase of raw materials	1,223,644	9.5%	1,116,978	11.0%	1,006,375
+/- Change in stocks of raw materiels	200,578	48.6%	134,987	0%	0
- Other external purchases and charges	28,479,781	15.7%	24,618,115	17.9%	20,872,538
Added value	15,210,719 €	-13.8%	17,655,553 €	3.0%	17,141,656 €	88,149.50 €	17155.6%
	6.45 % CA	-20.2%	8.08 % CA	3.5%	7.81 % CA	17.89 % CA	-63.9%

Added value	15,210,719 €	-13.8%	17,655,553 €	3.0%	17,141,656 €	88,149.50 €	17155.6%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	1,251,654	36.0%	920,463	3.7%	887,778
- Personal charges	11,514,024	-0.2%	11,534,667	4.3%	11,058,150
Gross operating surplus	2,445,041 €	-53.0%	5,200,423 €	0.1%	5,195,728 €	9,499 €	25640.0%
	1.04 % CA	-56.3%	2.38 % CA	0.4%	2.37 % CA	2.48 % CA	-58.1%

Gross operating surplus	2,445,041 €	-53.0%	5,200,423 €	0.1%	5,195,728 €	9,499 €	25640.0%
+ Release of reserves and provisions	877,601	-33.5%	1,320,081	-42.2%	2,282,096
+ Other operating income	206,182	178.2%	74,115	-44.8%	134,191
- Depreciation/Amortisation	2,205,561	-21.3%	2,804,252	-2.2%	2,867,163
- Other charges	118,166	356.7%	25,875	-92.7%	352,119
Operating result	1,205,097 €	-68.0%	3,764,492 €	-14.3%	4,392,733 €	6,995 €	17128.0%
	0.51 % CA	-70.3%	1.72 % CA	-14.0%	2.00 % CA	1.94 % CA	-73.7%

Operating result	1,205,097 €	-68.0%	3,764,492 €	-14.3%	4,392,733 €	6,995 €	17128.0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	357,316	72.1%	207,569	-26.3%	281,519
- Financial charges	12,277,995	692.5%	1,549,358	-22.6%	2,001,445
Pre-tax result	-10,715,582 €	-542.3%	2,422,703 €	-9.4%	2,672,807 €	5,717.50 €	-187517.3%
	-4.55 % CA	-509.9%	1.11 % CA	-9.0%	1.22 % CA	1.63 % CA	-379.1%

Extraordinary income	2,476,500	56.6%	1,581,640	24993.4%	6,303	0	0%
- Extraordinary charges	2,600,766	-45.1%	4,739,351	-1.5%	4,813,412
Extraordinary result	-124,266 €	96.1%	-3,157,711 €	34.3%	-4,807,109 €	0 €	0%
	-0.05 % CA	96.6%	-1.45 % CA	33.8%	-2 % CA	0 % CA	0%

Pre-tax result	-10,715,582 €	-542.3%	2,422,703 €	-9.4%	2,672,807 €	5,717.50 €	-187517.3%
Extraordinary result	-124,266 €	96.1%	-3,157,711 €	34.3%	-4,807,109 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	-700,000	-1931.3%	38,225
Net result	-10,839,848 €	-30863.9%	-35,008 €	98.4%	-2,172,527 €	6,855 €	-158230.5%
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\help1.gif$	-4.60 % CA	-22900%	-0.02 % CA	98.0%	-0.99 % CA	1.55 % CA	-396.8%

Judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	21/10/2010
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	ERAM
Direct parent	ERAM - 99 %
Group – Number of companies	47
Linkages – Number of companies	1
Number of countries	1

Group Structure

Company Name	SIREN	Parts	Last account published
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ ERAM	388583239	-	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ PARMY	312843394	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ SOCIETE COMMERCIALE DE REPRESENTATIO...	312695133	70.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ CHAUSSURES LUSI FRANCE	332010214	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ TEXTO FRANCE	399861194	35.03%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ TECHNISYNTHESE	302135256	66.33%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ TECHNI-MAG	330432873	39.98%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM PRESTATIONS	408025401	99%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ GEMO LOGISTIQUE CHAUSSURES	335243531	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ CHAUSSURES HERVE	312707839	71.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ VETIR	322424342	69.95%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ FÁBIO LUCCI-REPRESENTAÇÕES LDA	-	35%	-
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM LOGISTIQUE	381863372	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM DIFFUSION	321421380	67.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ PARADE	312911902	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM SERVICES	399943935	99%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ BELLIERE	312911894	70.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ SOC FINANCIERE EXPANSION INDUST CIAL	069201051	82%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM INTERSERVICES	310817457	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ CHAUSSURES ERAM	775610306	97.37%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ SAMITECH	331443523	90%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ FRANCE ARNO	689800225	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ IS CHAUSSURES	347982605	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ SOBIBA	070202015	50%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ HEYRAUD	754500783	69.26%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ HEYRAUD	-	100%	-
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ CHAUSSURES BRUNO	312707805	71.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ SA DES CHAUSSURES LAURENT	961200060	79.99%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ PASSAGE	312843352	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ CHAUSSURES RENE	326555612	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ VETURA	311549240	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ GEMO SERVICES	381649391	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ DRESCO	612045864	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ CHAUSSURES TEDDY	312707797	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ GEVRISE	312843311	69.40%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ ERAM SHOP	312706765	67.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ GEMO LOGISTIQUE VETEMENTS	312911845	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ DE LA GRANGE	312939408	68.20%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ TEXTO FRANCE	399861194	41.76%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ BUGGY	312843303	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ MFC ERAM	522957802	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ LILNAT	442891628	90%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\T.gif$ COMBE	451205736	100%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ B.C.G	334326162	67%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\tminus.gif$ AGORA DISTRIBUTION	505271528	99%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ AGORA WEB	520595570	70%	31/12/2013
$Description: \\VIVEK\Foreign Report Raw2\AGORA DISTRIBUTION_files\L.gif$ MOBILIERE SAINT JACQUES	434504874	100%	31/12/2013

Linkages



Ultimate parent company	ERAM
Direct parent	ERAM - 99 %
Group – Number of companies	47
Linkages – Number of companies	1
Number of countries	1

Company Name		SIREN	Last account	Turnover
CHAUSSURES ERAM		775610306	31/12/2013	178 906 144 €

Recent publications in Gazettes

Publication date	Gazette Name	Description
16/11/2014	Bodacc A	Vente et cession : Acheteur

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 779 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Capital : 11300000 EUR. Adresse : 13/15 RUE de la Métallurgie, 93210 SAINT- DENIS La Plaine. Date de commencement de l’activité : 01/01/0001. Oppositions : Les créanciers des sociétés fusionnantes pourront former opposition à cette fusion dans les conditions et délais prévus par l'article L.236-14 du Code de Commerce. Descriptif : AVIS DE PROJET DE FUSION AGORA WEB Forme juridique Soci¿t¿ par actions simplifi¿e ¿ associ¿ unique Au capital de 1000000 EUR Si¿ge social 13-15 RUE de la M¿tallurgie 93210 SAINT- DENIS La Plaine N¿ RCS 520595570 RCS BOBIGNY, est soci¿t¿ absorb¿e. AGORA DISTRIBUTION Forme juridique Soci¿t¿ par actions simplifi¿e ¿ associ¿ unique Au capital de 11300000 EUR Si¿ge social 13/15 RUE de la M¿tallurgie 93210 SAINT- DENIS La Plaine N¿ RCS 505271528 RCS BOBIGNY, est soci¿t¿ absorbante. Actif : 38038524 euros Passif : 40199801 euros Actif net apport¿ : -2161277 euros Rapport d'¿change des droits sociaux : AGORA DISTRIBUTION, soci¿t¿ absorbante, d¿tenant la totalit¿ des titres composant le capital de la soci¿t¿ AGORA WEB, soci¿t¿ absorb¿e, il ne sera proc¿d¿ ¿ aucune augmentation de capital. De m¿me, les apports effectu¿s par la soci¿t¿ n'¿tant pas r¿mun¿r¿s par l'attribution d'actions ¿mises par la soci¿t¿ absorbante, il n'a pas ¿t¿ ¿tabli de rapport d'¿change. Montant pr¿vu de la prime de fusion : -2161277 euros. Date du projet : 03/11/2014 Date du d¿p¿t : 04/11/2014, lieu du d¿p¿t : Greffe du Tribunal de Commerce de BOBIGNY. Commentaires : Autre achat, apport, attribution.
02/08/2014	Bodacc C	Comptes annuels et rapports

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 9822 - 505271528 RCS. AGORA DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Adresse : 13/15 rue de la Métallurgie 93210 SAINT- DENIS La Plaine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
03/12/2013	Bodacc B	Modification et mutation diverse

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2230 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée à associé unique. Capital : 11300000 EUR. Activité : . Commentaires : Modification du capital.
29/10/2013	JAL	Modification of the share capital

Affiches parisiennes (Les) Date de décision : 12/07/2013 La société : 505271528 - AGORA DISTRIBUTION, 13 AV DE LA METALLURGIE, 13-15, SAINT DENIS, 93210 SAINT DENIS a subi une augmentation de son capital social désormais de 11 300 000 € Date d'effet : 12/07/2013
18/08/2013	Bodacc C	Comptes annuels et rapports

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 11801 - 505271528 RCS. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 13/15 rue de la Métallurgie 93210 SAINT- DENIS La Plaine. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
27/09/2012	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital

Gazette du palais (La) Date de décision : 25/06/2012 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 505271528 - AGORA DISTRIBUTION, 81 RUE CARTIER BRESSON, 93500 PANTIN Date d'effet : 25/06/2012
27/09/2012	JAL	Modification of the share capital

Gazette du palais (La) Date de décision : 25/06/2012 La société : 505271528 - AGORA DISTRIBUTION, 81 RUE CARTIER BRESSON, 93500 PANTIN a subi une augmentation de son capital social désormais de 4 000 000 € Date d'effet : 25/06/2012
21/08/2012	Bodacc C	Comptes annuels et rapports

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 12969 - 505271528 RCS. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 81 rue Cartier Bresson Pantin 93697 Pantin Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
08/08/2012	Bodacc B	Modification et mutation diverse

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2399 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Activité : . Adresse du siège social : 13/15 rue de la Métallurgie, 93210 SAINT- DENIS La Plaine. Commentaires : Modification de l'adresse du siège.
20/07/2012	JAL	Head Office Transfer

Moniteur des bâtiments et travaux publics Date de décision : 04/07/2012 Transfert du siège social de la société 505271528 - AGORA DISTRIBUTION Adresse du nouveau siège : 13 RUE DE LA METALLURGIE, 93210 ST DENIS Ancienne localisation : 81 RUE CARTIER BRESSON, 93500 PANTIN Date d'effet : 04/07/2012
31/10/2011	Bodacc B	Modification et mutation diverse

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 1848 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Capital : 4000000 EUR. Activité : . Commentaires : Modification du capital.
07/10/2011	JAL	Modification of the share capital

Moniteur des bâtiments et travaux publics Date de décision : 26/09/2011 La société : 505271528 - AGORA DISTRIBUTION, 81 RUE CARTIER BRESSON, 93500 PANTIN a subi une augmentation de son capital social désormais de 4 000 000 € Date d'effet : 26/09/2011
07/10/2010	Bodacc B	Modification et mutation diverse

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2898 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire : LHOMMEAU Philippe en fonction le 25 Juillet 2008 Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL en fonction le 25 Juillet 2008 Commissaire aux comptes suppléant : SCOUPE Florence en fonction le 25 Juillet 2008 Commissaire aux comptes suppléant : CABINET AVEC en fonction le 25 Juillet 2008 Président : DEROUDE Emmanuel, Roger en fonction le 28 Septembre 2010. Commentaires : Modification de représentant.
07/09/2010	Bodacc C	Comptes annuels et rapports

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 9282 - 505271528 RCS. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Adresse : 81 rue Cartier Bresson Pantin 93697 Pantin Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
05/08/2008	Bodacc A	Création d'établissement

93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 1492 - 505 271 528 RCS Bobigny. AGORA DISTRIBUTION. Forme : Société par actions simplifiée. Administration : Président : HINSINGER Yann. Commissaire aux comptes titulaire : LHOMMEAU Philippe. Commissaire aux comptes titulaire : FIDUCIAIRE AUDIT CONSEIL. Commissaire aux comptes suppléant : SCOUPE Florence. Commissaire aux comptes suppléant : CABINET AVEC. Capital : 1000000 EUR. Adresse : 81 rue Cartier Bresson, Pantin 93697 Pantin Cedex. Origine du fonds : Création d'un fonds de commerce. Etablissement : Etablissement principal. Activité : achat vente en gros et demi gros de vêtements articles textiles et en général tous articles d'équipement de la personne. Adresse : . Date de commencement de l’activité : 20/06/2008. Commentaires : Immatriculation d'une personne morale (B, C, D) suite à création d'un établissement principal.

Company events history

Date	Description
16/11/2014	Bodacc A : Sale and transfer
04/11/2014	Merger
02/08/2014	Bodacc C : Deposit accounts notice
26/07/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2013	New accounts available
03/12/2013	Bodacc B: Various editing or changing
25/11/2013	Amendment
25/11/2013	Updated articles of association
18/08/2013	Bodacc C : Deposit accounts notice
31/07/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
12/07/2013	Legal Gazette: Modification of the share capital
12/07/2013	Other modification of Establishment
31/12/2012	New accounts available
04/10/2012	Amendment
04/10/2012	Capital increase
04/10/2012	Capital reduction
04/10/2012	Continuation of business despite loss of equity
04/10/2012	Minutes of general meeting of shareholders
02/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
13/09/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/08/2012	Bodacc C : Deposit accounts notice
08/08/2012	Bodacc B: Various editing or changing
31/07/2012	Registered office transferred inside jurisdiction of the Commercial Court
31/07/2012	Amendment
31/07/2012	Updated articles of association
20/07/2012	Legal Gazette: Head Office Transfer
04/07/2012	Transfer of Establishment
04/07/2012	Update of Company Head Office Identifier
04/07/2012	Modification to Establishment Address or Identifier
25/06/2012	Modification to Establishment Address or Identifier
25/06/2012	Legal Gazette: Continuation of activity
25/06/2012	Legal Gazette: Modification of the share capital
01/06/2012	New subsidiarie(s) detected
01/06/2012	New ultimate parent
01/06/2012	New parent detected
31/12/2011	New accounts available
31/10/2011	Bodacc B: Various editing or changing
24/10/2011	Minutes of general meeting of shareholders
24/10/2011	Statuts mis à jour
24/10/2011	Updated articles of association
24/10/2011	PV d'Assemblée
24/10/2011	Augmentation de Capital
24/10/2011	Capital increase
24/10/2011	Fund deposit certificate
26/09/2011	Legal Gazette: Modification of the share capital
06/09/2011	Bodacc C : Deposit accounts notice
01/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
21/10/2010	Collection of preferential rights activated for this company
07/10/2010	Bodacc B: Various editing or changing
28/09/2010	Minutes of general meeting of shareholders
28/09/2010	Changement de Président (PDG, PCA)
28/09/2010	PV d'Assemblée
28/09/2010	New chairman (CEO, CoB)
07/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
05/08/2008	Bodacc A : Establishment creation
05/08/2008	New Bodacc A ads detected
25/07/2008	Appointment/resignation of company officers
25/07/2008	PV d'Assemblée
25/07/2008	Nomination/démission des organes de gestion
25/07/2008	New chairman (CEO, CoB)
25/07/2008	Changement de Président (PDG, PCA)
25/07/2008	Articles of association
25/07/2008	Private document
25/07/2008	Minutes of general meeting of shareholders
25/07/2008	Statuts
25/07/2008	Company formation
25/07/2008	Changement de Commissaire aux Comptes
25/07/2008	Fund deposit certificate
25/07/2008	Acte modificatif

Establishment events history

Date	Description
12/07/2013	Update of Establishment Workforce
12/07/2013	Modification of Head office
19/06/2013	Update of phone numbers
04/07/2012	Update of Establishment Address
04/07/2012	Formation of Head office (after transfer)
04/07/2012	Modification of Head office Identification
25/06/2012	Modification of Head office Identification
25/06/2012	Update of Establishment Address

directors

Name	M. DEROUDE EMMANUEL, ROGER
Manager position	President	Date of birth	07/12/1968
Place of birth	AVALLON
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M YANN HINSINGER	- - -

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	VNT

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

Company Name

company summary

Payment Information Summary

Ultimate Holding Company

Current Directors

Company details

Establishment details

Other establishments

Workforces

accounts

Judgements

Group data

Group Structure

Linkages

Recent publications in Gazettes

Company events history

directors

Unit