MIRA INFORM REPORT

Report No. :	342512
Report Date :	26.09.2015

IDENTIFICATION DETAILS

Name :	LEACH INTERNATIONAL EUROPE SA

Registered Office :	Zone Industrielle 2 Rue Goethe 57430 Sarralbe

Country :	France

Financials (as on) :	31.10.2014

Date of Incorporation :	January 1955

Legal Form :	Public limited company with board

Line of Business :	Manufacturing and distribution equipment Power.

No. of Employee :	250 to 499 employees

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 more than 84 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP increased by 0.4% in 2014. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.4% in the fourth quarter of 2014. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 24.3% in the fourth quarter of 2014. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4% of GDP in 2014, while France's public debt rose from 68% of GDP to more than 95% in 2014, and may hit 100% by 2016. Elected on a conventionally leftist platform, President Francois HOLLANDE surprised and angered many supporters with a January 2014 speech announcing a sharp change in his economic policy, recasting himself as a liberalizing reformer. The government's budget for 2014 shifted the balance of fiscal consolidation from taxes to a total of $24 billion in spending cuts. In December 2014, HOLLANDE announced additional reforms, including a plan to extend commercial business hours, liberalize professional services, and sell off $6.2-12.4 billion in state owned assets. France’s tax burden remains well above the EU average and income tax cuts over the past decade are being partly reversed, particularly for higher earners. The top rate of income tax is 41%. The government is allowing a 75% payroll tax on salaries over $1.24 million to lapse.

Source : CIA

Company summary

Name	LEACH INTERNATIONAL EUROPE SA
Acronym	-
Trade name	-
Status	Economically active
Postal Address	LEACH INTERNATIONAL EUROPE SA ZONE INDUSTRIELLE 2 RUE GOETHE 57430 SARRALBE
Share Capital	1,520,000 Euros
Incorporiation Date	01/1955
Activity (APE)	Manufacturing and distribution equipment Power (2712Z)	RCS Registration	RCS Sarreguemines B 552 107 955
Formation Date	01/1955	EUR VAT Number	FR86552107955
Deregistration Date	-	Last account Date	31/10/2014
Court Registry Number	19 9 5B00283	Telephone	03 87 97 98 97
Registration Court	Sarreguemines (57)	Fax	-
Nationality	France
		Legal form	Public limited company with board of directors
		Currency	Euros

Key Financials

YEAR TO DATE	TURNOVER	GROSS OPERATING SURPLUS	SHAREHOLDER'S EQUITY	NET RESULT	EMPLOYEES
31/10/2014	104,730,310 €	14.68% Turnover	61,658,061 €	9,357,494 €	250 to 499 employees
31/10/2012	101,885,811 €	13.53% Turnover	41,808,617 €	8,900,852 €	-
31/10/2011	82,453,092 €	15.12% Turnover	59,800,529 €	6,402,196 €	-

Ultimate Holding Company

Name	Country	Company Number
ESTERLINE TECHNOLOGIES CORPORATION		-
Affiliation links.
154 companies in the international Group Structure from 12 countries.

Directors

Current Directors

Preferential Right

This company is not under monitoring

Payment Information Summary – Trade Payment Data

Total number of Invoices available	225
Total number of Invoices paid within or up to 30 days after the due date	209
Total number of Invoices paid more than 30 days after the dues date	14
Total number of Invoices currently outstanding where the due date has not yet been reached	1
Total number of Invoices currently outstanding beyond the due date	1

Trends

Profitability
Liquidity
Net Worth

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	2712Z	Activity	Manufacturing and distribution equipment Power
Formation Date	07/1995	Reason for Formation	Contribution
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	Other
Trading Address	2 RUE GOETHE 57430 SARRALBE	Department	Moselle (57)
Location Surface	-	District	6
City	SARRALBE	Status	Economically active
Business Pages FT®	ELECTRICITE: APPAREILLAGE INDUSTRIEL, COMPOSANTS (FABRICATION)	Region	Lorraine
		Area	28
		Size of Urban Area	-

Other Establishment(s)

Regionality	Legal unit with multiple establishments in many areas but no one grouping more than 50% of workforce
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which no activity grouping more than 50% of workforce
Branches	1 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
LEACH INTERNATIONAL EUROPE SA	Head Office	2712Z	Manufacturing and distribution equipment Power	SARRALBE	57430
LEACH INTERNATIONAL EUROPE SA	Branch	2712Z	Manufacturing and distribution equipment Power	NIORT	79000

Workforces

Workforce at address

250 to 499 employees

Company workforce

250 to 499 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 shareholder's equity is 61,658,061 €
	The ratio total assets to total liabilities is 2.87
	The creditor days are 53.37
	The increase of tangible fixed assets over the last two accounting periods is 24 %
	The decrease in the gearing percentage over the last two accounting periods is 44 %
	The liabilities are 31,455,584 €
	The net current assets are 79,634,791 €
	The net turnover is 104,730,310 €
	The pre-tax profit is 12,469,518 €
	The risk provisions are 1,662,775 €
	The total assets are 94,924,544 €
	Low risk workforce size
	The company has 6 directors
	Industry code with low risk rating
	Department code with low risk rating
	The return on total assets employed is 13.14
	The sales to current assets ratio is 1.32
	The stock to turnover ratio is 24.69

Industry comparison

Activity (APE)	Manufacturing and distribution equipment Power (2712Z)
Industry average credit rating	53
Industry average credit limit	108,916

Collective procedures

No judgment information for the company

Preferential rights details and history

Status of collection

This company is not under monitoring

Group Data

Ultimate parent company	ESTERLINE TECHNOLOGIES CORPORATION
Direct parent	ESTERLINE TECHNOLOGIES CORPORATION - Majority
Group – Number of companies	5
Linkages – Number of companies	154
Number of countries	12

	NAME	SIREN	PARTS	LAST ACCOUNT PUBLISHED
1	ESTERLINE TECHNOLOGIES CORP	-	-	-
2	LEACH INTERNATIONAL EUROPE SA	552107955	Majority	31/10/2014
	MUIRHEAD AEROSPACE LIMITED	00560015	Majority	31/12/2014
2	AUXITROL SA	391288347	Majority	31/10/2014
3	HONEYWELL MARINE	444871933	100 %	31/12/2014

Linkages

COMPANY NAME	SIREN	LAST ACCOUNT PUBLISHED	TURNOVER
AMETEK EUROPEAN HOLDINGS LIMITED	07397586	31/12/2013	0 £
ESTERLINE TECHNOLOGIES HOLDINGS LIMITED	05148070	31/10/2014	0 £
EMA HOLDINGS UK LIMITED	04600860	31/12/2014	0 £
DARCHEM ENGINEERING LIMITED	SC144767	31/10/2014	80,287,000 £
SOLARTRON METROLOGY LIMITED	04220056	31/12/2014	19,112,000 £
AUXITROL TECHNOLOGIES	722047131	31/10/2006	0 €
RACAL ACOUSTICS LIMITED	05019038	31/10/2014	24,316,000 £
LAND INSTRUMENTS INTERNATIONAL LIMITED	01659383	31/12/2014	17,655,000 £
TAYLOR HOBSON LIMITED	03230332	31/12/2013	54,819,000 £
SOURIAU	421320268	31/10/2014	216,689,276 €
LRE MEDICAL GMBH	HRB 5316	31/10/2014	32,388,599 €
AEM LIMITED	00620201	31/12/2014	24,072,000 £
DUNKERMOTOREN GMBH	HRB 705227	31/12/2013	153,494,212 €
ESTERLINE ACQUISITION LIMITED	05720105	31/10/2014	0 £
LLOYD INSTRUMENTS LIMITED	02569386	31/12/2014	17,651,000 £
DARCHEM HOLDINGS LIMITED	03966333	31/10/2014	80,287,000 £
GAMESMAN LIMITED	03027138	31/10/2014	33,495,340 £
AMETEK AIRTECHNOLOGY GROUP LIMITED	00499805	31/12/2014	40,135,000 £
SPECTRO ANALYTICAL INSTRUMENTS GMBH	HRB 1876	31/12/2013	102,742,110 €
DUNKERMOTOREN LINEAR SYSTEMS LIMITED	07698463	31/12/2013	1,518,604 £
SPECTRO ANALYTICAL UK LIMITED	01766726	31/12/2013	1,014,000 £
TESEQ LIMITED	05950817	31/12/2013	2,855,944 £
AMETEK AEROSPACE AND DEFENSE GROUP UK LIMITED	08330514	31/12/2014	0 £
FRAMEFLAIR LIMITED	04998637	31/12/2013	0 £
RACAL ACOUSTICS GROUP LIMITED	05479016	25/10/2013	0 £
AMETEK INSTRUMENTS GROUP UK LIMITED	08330531	31/12/2014	0 £
WALLOP DEFENCE SYSTEMS LIMITED	00675623	31/10/2014	15,567,000 £
LEACH INTERNATIONAL UK LIMITED	01026277	31/10/2014	217,416 £
AMETEK PRECISION INSTRUMENTS (UK) LTD.	00684869	31/12/2013	976,000 £
ESTERLINE TECHNOLOGIES LIMITED	03837209	31/10/2014	0 £
MILMEGA LIMITED	02185653	31/12/2013	5,615,569 £
ESTERLINE TECHNOLOGIES EUROPE LIMITED	06787209	31/10/2014	0 £
SOURIAU UK LIMITED	04725235	31/10/2014	946,049 £
WALLOP INDUSTRIES LIMITED	00410988	31/10/2014	-
INSUMAT LIMITED	00880336	31/12/2014	-
ATLAS MATERIAL TESTING TECHNOLOGY LIMITED	02014175	31/12/2013	1,399,000 £
PRESSURE SYSTEMS INTERNATIONAL LIMITED	02858303	29/10/2014	-
TAYLOR HOBSON TRUSTEES LIMITED	03261156	05/04/2014	-
AIRTECHNOLOGY PENSION TRUSTEES LIMITED	03928166	31/03/2015	-
WESTON AEROSPACE LIMITED	04740406	31/10/2014	42,407,000 £
RACAL ACOUSTICS HOLDINGS LIMITED	05478873	25/10/2013	0 £
AMETEK SCP (BARROW) LIMITED	05635616	31/12/2013	1,448,000 £
VISION RESEARCH LIMITED	06048891	31/12/2013	1,711,000 £
MICRO-POISE MEASUREMENT SYSTEMS UK LIMITED	06096642	31/12/2012	-
AMETEK RUSSIA (UK) LIMITED	06815390	31/12/2014	-
ESTERLINE TECHNOLOGIES FRENCH ACQUISITION LIMITED	07649574	31/10/2014	0 £
ESTERLINE INTERFACE TECHNOLOGIES LIMITED	08331349	31/10/2014	0 £
TESEQ HOLDING AG	5370329	-	-
CDA INTERCORP LLC	-	-	12,720,000 $
EQUIPMENT SALES CORP	-	-	509,000 $
MEMTRON TECHNOLOGIES CO	-	-	4,195,000 $
MCKECHNIE AEROSPACE INVESTMENTS, INC	-	-	0 $
MICRO-POISE MEASUREMENT SYSTEMS LLC	-	-	0 $
FLUID REGULATORS CORP	-	-	1,973,000 $
AERO-INSTRUMENTS CO, LLC	-	-	3,200,000 $
AEROCONTROLEX GROUP	-	-	564,000 $
SCHNELLER, LLC	-	-	103,000 $
AMSAFE COMMERCIAL PRODUCTS INC	-	-	0 $
CEF INDUSTRIES INC	-	-	27,500,000 $
AVISTA INCORPORATED	-	-	0 $
TYEE AIRCRAFT	-	-	2,331,000 $
TEXAS ROTRONICS, INC	-	-	373,000 $
MASON ELECTRIC CO	-	-	1,053,000 $
ELECTROMECH TECHNOLOGIES	-	-	25,200,000 $
SEMCO INSTRUMENTS, INC	-	-	50,600,000 $
ESTERLINE DEFENSE GROUP	-	-	310,000 $
ACME AEROSPACE, INC	-	-	35,210,000 $
LEACH INTERNATIONAL CORP	-	-	754,000 $
ADELWIGGINS GROUP	-	-	558,000 $
ESTERLINE SENSORS SERVICES AMERICAS, INC	-	-	156,000 $
AMSAFE, INC	-	-	0 $
ADVANCED INPUT DEVICES, INC	-	-	0 $
AMSAFE GLOBAL HOLDINGS, INC	-	-	94,000 $
MARATHONNORCO AEROSPACE, INC	-	-	985,540,000 $
ECLIPSE ELECTRONIC SYSTEMS, INC	-	-	88,000 $
ESTERLINE PALOMAR PRODUCTS INC	-	-	1,000,000 $
SKURKA AEROSPACE INC	-	-	35,532,000 $
KIRKHILL-TA CO	-	-	0 $
ADAMS RITE AEROSPACE INC	-	-	4,595,000 $
KORRY ELECTRONICS CO	-	-	68,000,000 $
TELAIR INTERNATIONAL INCORPORATED	-	-	0 $
AVIATION TECHNOLOGIES, INC	-	-	96,000,000 $
HYTEK FINISHES CO	-	-	1,032,000 $
AVTECH CORP	-	-	0 $
HARTWELL CORP	-	-	200,000,000 $
RACAL ACOUSTICS INC	-	-	352,000 $
AMETEK SCP, INC	-	-	22,525,000 $
ARMTEC COUNTERMEASURES CO	-	-	0 $
BRUCE AEROSPACE	-	-	20,000,000 $
AIRBORNE SYSTEMS NORTH AMERICA	-	-	0 $
AMSAFE AVIATION	-	-	0 $
AERO FLUID PRODUCTS	-	-	0 $
NMC GROUP, INC	-	-	12,364,000 $
TRANSDIGM GROUP INC	-	-	0 $
TRANSDIGM INC	-	-	0 $
BRIDPORT HOLDINGS, INC	-	-	94,000 $
AP GLOBAL ACQUISITION CORP	-	-	0 $
CMC ELECTRONICS AURORA INC	-	-	0 $
ARMTEC COUNTERMEASURES TNO CO	-	-	0 $
JOSLYN SUNBANK CO LLC	-	-	0 $
MCKECHNIE AEROSPACE DE, INC	-	-	0 $
MCKECHNIE AEROSPACE HOLDINGS, INC	-	-	0 $
DUKES AEROSPACE INC	-	-	0 $
HARCO LABORATORIES, INCORPORATED	-	-	24,000,000 $
ADS TRANSICOIL CORP	-	-	18,646,000 $
NORWICH AERO PRODUCTS LIMITED	-	-	0 $
AMETEK, INC	-	-	0 $
AIRBORNE SYSTEMS GROUP	-	-	0 $
BRIDPORT ERIE AVIATION, INC	-	-	3,000,000 $
AVIONIC INSTRUMENTS INC	-	-	16,000,000 $
CHAMPION AEROSPACE LLC	-	-	79,500,000 $
BVR TECHNOLOGIES ESTERLINE CORP	-	-	0 $
ARKWIN INDUSTRIES, INC	-	-	2,000,000 $
WESTERN SKY INDUSTRIES, LLC	-	-	0 $
ADVANCED INPUT DEVICES (UK) LT	-	-	-
ADVANCED INPUT DEVICES, INC.	-	-	-
AMETEK UK LP	-	-	-
ARMTEC COUTERMEASURES CO.	-	-	-
ARMTEC COUTERMEASURES TNO CO.	-	-	-
ATLAS LLC	-	-	-
ATLAS NETHERLANDS ACQUISITIONCO	-	-	-
AUXITROL CO.	-	-	-
AUXITROL TECHNOLOGIES S.A.	-	-	-
AVISTA INCORPORATED	-	-	-
AVISTA, INCORPORATED	-	-	-
BVR TECHNOLOGIES CO.	-	-	-
BVR TECHNOLOGIES CO.	-	-	-
CMC ELECTRONICS AURORA LLC	-	-	-
CMC ELECTRONICS INC	-	-	-
CMC ELECTRONICS INCORPORATED	-	-	-
DARCHEM ENGINEERING LTD.	-	-	-
ECLIPSE ELECTRONIC SYSTEMS	-	-	-
EESTERLINE SENSORS SERVICES AM	-	-	-
ESTERLINE INPUT DEVICES (SHANG	-	-	-
ESTERLINE INPUT DEVICES (SHANG	-	-	-
GAMESMAN LTD.	-	-	-
GUIZHOU LEACH-TIANYI AVIATION	-	-	-
JOSLYN SUNBANK COMPANY, LLC	-	-	-
LEACH INTERNATIONAL ASIA	-	-	-
LEACH INTERNATIONAL CORPORATIO	-	-	-
LEACH INTERNATIONAL MEXICO S.	-	-	-
NMC GROUP, INC.	-	-	-
NORWICH AERO PRODUCTS LTD.	-	-	-
PALOMAR PRODUCTS, INC.	-	-	-
PRESSURE SYSTEMS, INC.	-	-	-
RACAL ACOUSTICS LTD.	-	-	-
SOURIAU JAPAN K.K.	-	-	-
SOURIAU S.A.S.	-	-	-
SOURIAU USA INC.	-	-	-
TECHNOCONTACT S.A.	-	-	-
VISION RESEARCH INC	-	-	-
WALLOP DEFENCE SYSTEMS	-	-	-
WESTON AEROSPACE LTD.	-	-	-
WESTON AEROSPACE LTD.	-	-	-

Director(s)

Name	M. GEORGE ROBERT
Manager position	Administrator, Delegated managing director	Date of birth	27/03/1956
Place of birth	NEW YORK ETATS UNIS
Type	Individual	Name at birth

Name	M. BAUTHIAN DOMINIQUE
Manager position	Delegated managing director	Date of birth	07/09/1948
Place of birth	PARIS 14
Type	Individual	Name at birth

Name	M. LAWRENCE RICHARD BRADLEY
Manager position	Administrator	Date of birth	-
Place of birth
Type	Individual	Name at birth

Name	M. THEK MARK
Manager position	President	Date of birth	20/05/1959
Place of birth	KALAMZEO
Type	Individual	Name at birth

Name	M. DURAND ALAIN
Manager position	Administrator	Date of birth	13/08/1967
Place of birth	LANNILIS
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Delegated managing director	M. BAUTHIAN DOMINIQUE	07/09/1948 - PARIS 14
Delegated managing director	M. GEORGE ROBERT	27/03/1956 - NEW YORK ETATS UNIS
Administrator	M. GEORGE ROBERT	27/03/1956 - NEW YORK ETATS UNIS
Administrator	M. HOUSTON FRANCK	25/05/1951 - JORHAI ASSAM INDE
Administrator	M. HOUSTON FRANCK	25/05/1951 - JORHAI ASSAM INDE
Administrator	M. THEK MARK	20/05/1959 - KALAMZEO
Administrator	THEK MARK	20/05/1959 - KALAMZEO

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
	20/07/2015	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 553 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A.. Forme : S.A.. Adresse : Z.I., 2, rue Goethe 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2014.
	28/07/2014	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 994 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A.. Forme : S.A.. Adresse : Z.I., 2, rue Goethe 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2013.
	12/06/2014	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1927 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : SA. Administration : directeur général délégué, administrateur : GEORGE (Robert, David) ; président, directeur général, administrateur : THEK (Mark) ; directeur général délégué : SAUNDERS (Phillip) ; administrateurs : DURAND (Alain), REUSSER (Curtis, Carl) ; commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES (SAS) ; commissaire aux comptes suppléant : AUDITEX (SAS). Activité : . Commentaires : modification survenue sur l'administration.
	15/05/2014	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1908 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : SA. Administration : président, directeur général, administrateur : THEK (Mark) ; directeurs généraux délégués : ALVAREZ (Pierre), SAUNDERS (Phillip) ; directeur général délégué, administrateur : GEORGE (Robert, David) ; administrateurs : DURAND (Alain), REUSSER (Curtis, Carl) ; commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES (SASh) ; commissaire aux comptes suppléant : AUDITEX (SASh). Activité : . Commentaires : modification survenue sur l'administration.
	22/04/2014	JAL	Resignation / Revocation of the social representative
Affiches d Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 28/03/2014 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Monsieur Pierre ALVAREZ
	14/03/2014	JAL	Resignation / Revocation of the social representative
Affiches d Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 04/03/2014 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Monsieur Richard B Lawrence
	14/03/2014	JAL	Appointment of the social representative
Affiches d Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 04/03/2014 Société faisant l'objet d'une nomination : 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Nominé : Monsieur Curtis Reusser, WA, 9803 KIRKLAND En la fonction de : Administrateur Nominé : Monsieur Phillip Saunders, 67700 SAVERNE
	18/07/2013	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1900 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A.. Forme : S.A.. Adresse : Z.I., 2, rue Goethe 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2012.
	18/06/2013	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1355 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : SA. Administration : directeur général délégué : ALVAREZ (Pierre) ; directeur général délégué et administrateur : GEORGE (Robert, David) ; président directeur général et administrateur : THEK (Mark) ; administrateurs : LAWRENCE (Richard, Bradley), DURAND (Alain) ; commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES (SASh) ; commissaire aux comptes suppléant : AUDITEX (SASh). Activité : . Commentaires : modification survenue sur l'administration.
	22/03/2013	JAL	Resignation / Revocation of the social representative
Affiches d Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 04/03/2013 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Monsieur Frank HOUSTON
	22/03/2013	JAL	Appointment of the social representative
Affiches d Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 04/03/2013 Société faisant l'objet d'une nomination : 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Nominé : Monsieur Alain DURAND, 78125 EMANCE En la fonction de : Administrateur
	31/08/2012	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 681 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A.. Forme : S.A.. Adresse : Z.I., 2, rue Goethe 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2010.
	13/08/2012	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1013 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A.. Forme : S.A.. Adresse : Z.I., 2, rue Goethe 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2011.
	02/03/2012	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 801 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : Société anonyme. Administration : directeur général délégué : ALVAREZ (Pierre) ; directeur général délégué et administrateur : GEORGE (Robert, David) ; administrateurs : HOUSTON (Frank) et LAWRENCE (Richard, Bradley) ; président directeur général et administrateur : THEK (Mark) ; commissaire aux comptes titulaire : ERNST & YOUNG ET AUTRES (SAS) ; commissaire aux comptes suppléant : AUDITEX (SAS). Activité : . Commentaires : modification survenue sur l'administration.
	19/06/2011	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 751 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : Société anonyme. Administration : directeur général délégué : ALVAREZ (Pierre) ; directeur général délégué et administrateur : GEORGE (Robert, David) ; administrateur : HOUSTON (Frank) ; président directeur général et administrateur : THEK (Mark) ; administrateur : LAWRENCE (Richard, Bradley) ; commissaire aux comptes titulaire : ERNST & YOUNG AUDIT ; commissaire aux comptes suppléant : DELOITTE TOUCHE TOHMATSU. Activité : . Commentaires : modification survenue sur l'administration.
	26/05/2011	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 544 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Adresse : Z.I., 2, rue Goethe, 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2009.
	17/12/2010	JAL	Resignation / Revocation of the social representative
Affiches d'Alsace et de Lorraine (Les Affiches - Le Moniteur) Date de décision : 01/12/2010 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Date d'effet : 01/12/2010
	17/12/2010	JAL	Appointment of the social representative
Affiches d'Alsace et de Lorraine (Les Affiches - Le Moniteur) Société faisant l'objet d'une nomination : 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Nominé : Monsieur Pierre ALVAREZ, 4 Rue Gustave Klotz, 67000 STRASBOURG En la fonction de : Directeur général Date d'effet : 01/12/2010
	14/09/2010	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1296 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 1520000 EUR. Adresse du siège social : 2 rue Goethe, Zone Industrielle, 57430 Sarralbe. Commentaires : modification survenue sur l'administration, changement d'administrateur, départ de CREMIN (Robert), nouveau : THEK (Mark), date d'effet : 09/03/2010.
	14/09/2010	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1297 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Administration : THEK (Mark), précédemment administrateur, devient président directeur général et administrateur, arrivée d'un nouvel administrateur : BRADLEY LAWRENCE (Richard). Capital : 1520000 EUR. Adresse du siège social : 2 rue Goethe, Zone Industrielle, 57430 Sarralbe. Commentaires : modification survenue sur l'administration, date d'effet : 26/04/2010.
	07/05/2010	JAL	Resignation / Revocation of the social representative
LES AFFICHES D'ALSACE ET DE LORRAINE Date de décision : 26/04/2010 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Monsieur Gilles DEBRAY
	07/05/2010	JAL	Appointment of the social representative
LES AFFICHES D'ALSACE ET DE LORRAINE Société faisant objet d'une nomination : 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Nominé : Madame Lawrence BRADLEY En la fonction de : Administrateur
	30/04/2010	JAL	Resignation / Revocation of the social representative
LES AFFICHES D'ALSACE ET DE LORRAINE Date de décision : 09/03/2010 La société 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Fait l'objet du départ de Monsieur Robert CREMIN
	30/04/2010	JAL	Appointment of the social representative
LES AFFICHES D'ALSACE ET DE LORRAINE Société faisant objet d'une nomination : 552107955 - LEACH INTERNATIONAL EUROPE SA, 2 RUE GOETHE, ZONE INDUSTRIELLE, 57430 SARRALBE Nominé : Monsieur Mark THEK En la fonction de : Administrateur
	18/12/2009	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1190 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Adresse : Z.I., 2, rue Goethe, 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2008.
	23/11/2008	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 331 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Administration : départ de SIGAUD (Jean, Michel) en tant que président directeur général et administrateur ; BAUTHIAN (Dominique), précédemment directeur général délégué non administrateur, devient administrateur et président directeur général. Capital : 1520000 EUR. Adresse du siège social : 2 rue Goethe, Zone Industrielle Sarralbe, 57430 Sarralbe. Commentaires : modification sur l'administration, le 09/05/2008.
	23/11/2008	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 332 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Administration : BAUTHIAN (Dominique), précédemment président directeur général et administrateur, devient directeur général délégué ; arrivée de DEBRAY (Gilles) en qualité d'administrateur et président directeur général. Capital : 1520000 EUR. Adresse du siège social : 2 rue Goethe, Zone Industrielle Sarralbe, 57430 Sarralbe. Commentaires : modification sur l'administration, le 07/07/2008.
	18/10/2008	Bodacc C	Comptes annuels et rapports
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 586 - 552107955 RCS. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Adresse : Z.I., 2, rue Goethe, 57430 Sarralbe. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2007.
	22/02/2008	Bodacc B	Modification et mutation diverse
57 - MOSELLE GREFFE DU TRIBUNAL D'INSTANCE DE SARREGUEMINES 1378 - 552 107 955 RCS Sarreguemines. LEACH INTERNATIONAL EUROPE SA. Forme : S.A. Administration : administrateur partant : KRING (Lawrence) ; nouvel admlinistrateur : HOUSTON (Frank). Capital : 1520000 EUR. Activité : non précisée. Adresse du siège social : 2 rue Goethe, Zone Industrielle Sarralbe, 57430 Sarralbe. Commentaires : modification survenue sur l'administration, à compter du 25/06/2007.
	19/08/2007	Bodacc C	Avis de dépôt des comptes
1587 - Sarreguemines B 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme: S.A. Adresse du siège social: Z.I., 2, rue G the,57430 Sarralbe. Comptes annuels et rapports de l'exercice clos le: 31 octobre 2006.
	16/09/2006	Bodacc C	Avis de dépôt des comptes
1214 - RCS Sarreguemines B 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme: S.A. Adresse du siège social: Z.I., 2, rue G the,57430 Sarralbe. Comptes annuels et rapports de l'exercice clos le: 31 octobre 2005.
	21/02/2006	Bodacc B	Modifications et mutations diverses
0455 - RCS Sarreguemines 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 1 520 000 euros. Adresse du siège social : Z.I. Sarralbe, 2 rue G the,, 57430 Administration : nouveau commissaire aux comptes suppléant : STE DELOITTE TOUCHE TOHMATSU, ancien commissaire aux comptes titulaire. Ancien commissaire aux comptes suppléant : FENARD (Gilbert). Nouveau commissaire aux comptes titulaire : ERNST & YOUNG AUDIT. Date d'effet : 27 avril 2005.
	31/01/2006	Bodacc C	Avis de dépôt des comptes
1452 - RCS Sarreguemines B 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme: S.A. Adresse du siège social: Z.I., 2, rue Goethe,57430 Sarralbe. Comptes annuels et rapports de l'exercice clos le: 31 octobre 2004.
	22/07/2005	Bodacc C	Avis de dépôt des comptes
1629 - RCS Sarreguemines B 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme: S.A. Adresse du siège social: Z.I., 2, rue Goethe,57430 Sarralbe. Comptes annuels et rapports de l'exercice clos le: 31 mars 2004.
	24/04/2005	Bodacc B	Modifications et mutations diverses
544 - Ancienne situation du siège social : RCS Sarreguemines 552 107 955. RC 95-B 283. LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 1 524 490,17 euros. Adresse : Z.I., 2 rue Goethe, 57430 Nouvelle situation du siège social - Capital : 1 520 000 euros. Administration : président directeur général : SIGAUD (Jean, Michel), ancien président du conseil d'administration, qui reste administrateur. Directeur général délégué : GEORGE (David), ancien directeur général, qui reste administrateur. Date d'effet : 26 octobre 2004.
	22/12/2004	Bodacc B	Modifications et mutations diverses
RCS Sarreguemines 552107955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S. A. Capital : 1 524 490,17 euros. Adresse du siège social : Z.I., 2 rue Goethe, 57430 Sarralbe. Administration : anciens administrateurs : SIRES (Robert) et THEK (Mark, Raymond). Nouveaux administrateurs : CREMIN (Robert) et KRING (Larry). Nomination en qualité de directeur général et administrateur : GEORGE (Robert). Date d'effet : 30 aout 2004.
	17/03/2004	Bodacc B	Modifications et mutations diverses
RCS Sarreguemines 552107955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S. A. Capital : 1 524 490,17 euros. Adresse du siège social : Z.I. Sarralbe, 2 rue Goethe, 57430 Sarralbe. Administration : ancien administrateur : HAWKEY (Robert). Nouvel administrateur : THEK (Mark, Raymond). Date d'effet : 26 septembre 2003.
	10/04/1999	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Sarreguemines B 552 107 955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S. A. Capital : 2 000 000 de F. Adresse : Z.I., 2 rue Goethe 57430 Sarralbe Nouvelle situation du siège social. Capital : 10 000 000 de F. Date d'effet : 15 décembre 1998.
	11/02/1999	Bodacc B	Modifications et mutations diverses
RCS Sarreguemines B 552 107 955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 2 000 000 F (fixe). Adresse du siège social : 2 rue Goethe, zone industrielle, 57430 Sarralbe. Administration : ancien président du conseil d'administration et administrateur : BAUTHIAN (Dominique), nouveau directeur général non administrateur nouveau président du conseil d'administration et administrateur : SIGAUD (Jean-Michel), ancien directeur général et administrateur ancien administrateur : Mme RIFF (Marie-Christine) nouvel administrateur : SIRES (Robert de Sales). Date d'effet : 5 novembre 1998.
	28/03/1998	Bodacc B	Modifications et mutations diverses
RCS Sarreguemines B 552107955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 2 000 000 F (fixe). Adresse du siège social : zone industrielle, 2, rue Goethe, 57430 Sarralbe. Administration : nomination en qualité d'administrateur de EVELLIN ( Jean-François), précédemment président du conseil d'administration et administrateur, à compter du 12 novembre 1997 départ en qualité de président du conseil d'administration et administrateur de BAUTHIAN ( Dominique) nouveau directeur général et administrateur de SIGAUD (Jean, Michel). Date d'effet : 27 novembre 1997.
	14/08/1996	Bodacc B	Modifications et mutations diverses
RCS Sarreguemines B 552 107 955 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 2 000 000 de F ( fixe). Adresse du siège social : 2 rue Goethe, zone industrielle, 57430 Sarralbe. Administration : ancien administrateur : ROB (Gérard) nouvel administrateur : Mlle RIFF (Marie- Christine) ancien commissaire aux comptes titulaire : P.S. AUDIT nouveau commissaire aux comptes titulaire : DELOITTE TOUCHE TOHMATSU. Date d'effet : 22 mars 1996.
	12/12/1995	Bodacc A	Création d'établissement
RCS Sarreguemines B 552 107 955 A dater du: 6 octobre 1995 RC 95-B 283 LEACH INTERNATIONAL EUROPE S.A. Forme : S.A. Capital : 2 000 000 de F (fixe). Adresse du siège social : 2 rue Goethe, zone industrielle, 57430 Sarralbe. Administration : président du conseil d' administration : EVELLIN (Jean-François) administrateurs : FULLER (Maurice) et ROB (Gérard) commissaire aux comptes titulaire : P.S. AUDIT commissaire aux comptes suppléant : FENARD (Gilbert) Fonds principal acquis par fusion, au montant évalué à 76 403 768 F Etablissement principal: Activité : fabrication, exploitation, vente de matériel scientifique , mécanique de précision, installations et appareillage électrique. Adresse : 2 rue Goethe, zone industrielle, 57430 Sarralbe Date de début d'activité: 28 aout 1941 (régularisation) Précédente propriétaire L.R.E. RELAIS ET ELECTRONIQUE. RCS B 370 801 151 Publication légale: Le Courrier de l' Ouest du 30 juin 1995 déclaration de créances: au greffe du tribunal d' instance de Sarreguemines.
	24/09/1995	Bodacc B	Modifications et mutations diverses
RCS Niort B 552 107 955 RC 93-B 261 LES MODELES FRANCAIS-ANCIENS ETABLISSEMENTS ROBERT GAUME. Forme : S.A. Capital : 8 100 000 F. Adresse du siège social : Z.I. Saint-Liguaire, 14 rue Sainte-Claire- Deville 79000 Niort. Administration : président du conseil d'administration : EVELLIN (Jean, François). Administrateur : ROB (Gérard). Commissaire aux comptes titulaire : P.S. AUDIT. Commissaire aux comptes suppléant : FENARD (Gilbert). Ancien administrateur : FULLER (Maurice) Etablissement principal: Activité : fabrication, exploitation et vente. Adresse : Z.I. Saint-Liguaire, 14 rue Sainte-Claire-Deville 79000 Niort. Date d'effet : 14 février 1995.
	17/09/1995	Bodacc B	Modifications et mutations diverses
RCS Niort B 552 107 955 RC 93-B 261 LES MODELES FRANCAIS-ANCIENS ETABLISSEMENTS ROBERT GAUME. Forme : S.A. Capital : 8 100 000 F. Adresse du siège social : Z.I. Saint-Liguaire, 14 rue Sainte-Claire- Deville 79000 Niort. Administration : président du conseil d'administration : EVELLIN (Jean, François). Administrateurs : FULLER (Maurice) ROB (Gérard). Commissaire aux comptes titulaire : P.S. AUDIT. Commissaire aux comptes suppléant : FENARD (Gilbert). Ancien administrateur : EICHHAMMER ( Dieter) Etablissement principal: Adresse : Z.I. Saint-Liguaire, 14 rue Sainte-Claire-Deville 79000 Niort. Date d'effet : 15 décembre 1994.
	19/08/1995	Bodacc B	Modifications et mutations diverses
RCS o. RCS Niort B 552 107 955 RC RC 93- B 261 LES MODELES FRANCAIS ANCIENS ETABLISSEMENTS ROBERT GAUME. Forme : S.A. à conseil d'administration. Capital : 8 100 000 F. Adresse du siège social : 14, rue Sainte-Claire-Deville, Z.I. Saint- Liguaire 79000 Niort. Administration : président du conseil d'administration : EVELLIN (Jean, François) Administrateurs : EICHHAMMER (Hans, Dieter) FULLER (Maurice). Commissaire aux comptes titulaire : P.S. AUDIT. Commissaire aux comptes suppléant : FENARD (Gilbert). Ancien administrateur GAUME (Robert) Etablissement principal: Activité : fabrication, exploitation, vente. Adresse : 14, rue Sainte-Claire- Deville, Z.I. Saint-Liguaire 79000 Niort Date de début d'activité: 28 aout 1941. Date d'effet : 30 juin 1993.
	16/06/1995	Bodacc B	Modifications et mutations diverses
RCS o. RCS Niort B 552 107 955 RC RC 93- B 261 LES MODELES FRANCAIS anciens établissements [0042ROBERT GAUME. Forme : S.A. à conseil d'administration. Capital : 8 100 000 F. Adresse du siège social : 14, rue Sainte-Claire Deville, Z.I. Saint-Liguaire 79000 Niort. Administration : président du conseil d' administration : EVELLIN (Jean-François) Administrateurs : EICHHAMMER (Hans, Dieter) GAUME (Robert) FULLER ( Maurice). Commissaire aux comptes titulaire : PS AUDIT. Commissaire aux comptes suppléant : FENARD (Gilbert). Ancien commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE DE L'EST. Ancien commissaire aux comptes suppléant : COMAI Etablissement principal: Activité : fabrication, exploitation, vente. Adresse : 14, rue Sainte-Claire Deville, Z.I. Saint- Liguaire 79000 Niort Date de début d' activité: 28 aout 1941. Date d'effet : 11 juillet 1994.

Company events history

Date	Description
10/09/2015
10/09/2015
10/09/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
01/09/2015
25/07/2015	Invalid balance sheet
20/07/2015	Bodacc C : Deposit accounts notice
06/06/2015
05/03/2015
03/02/2015
03/02/2015
03/02/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
23/12/2014	Minutes of general meeting of shareholders
23/12/2014	Private document
23/12/2014	Updated articles of association
23/12/2014	Amendment
23/12/2014	New closing date
08/11/2014
08/11/2014
31/10/2014	New accounts available
28/07/2014	Bodacc C : Deposit accounts notice
12/06/2014	Bodacc B: Various editing or changing
15/05/2014	Bodacc B: Various editing or changing
13/05/2014	Minutes of Board meeting
13/05/2014	Appointment/resignation of company officers
13/05/2014	Amendment
13/05/2014	Private document
22/04/2014	Legal Gazette: Resignation / Revocation of the social representative
31/03/2014	Private document
31/03/2014	New manager
31/03/2014	Minutes of general meeting of shareholders
31/03/2014	Appointment/resignation of company officers
31/03/2014	Amendment
14/03/2014	Legal Gazette: Resignation / Revocation of the social representative
04/03/2014	Legal Gazette: Appointment of the social representative
19/10/2013
19/10/2013
18/07/2013	Bodacc C : Deposit accounts notice
18/06/2013	Bodacc B: Various editing or changing
16/04/2013	Private document
16/04/2013	Changes to the Board of Directors
16/04/2013	Appointment/resignation of company officers
16/04/2013	Amendment
16/04/2013	Minutes of general meeting of shareholders
22/03/2013	Legal Gazette: Resignation / Revocation of the social representative
04/03/2013	Legal Gazette: Appointment of the social representative
31/10/2012	New accounts available
24/10/2012	Invalid balance sheet
09/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/08/2012	Bodacc C : Deposit accounts notice
29/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
13/08/2012	Bodacc C : Deposit accounts notice
07/08/2012	Invalid balance sheet
02/03/2012	Bodacc B: Various editing or changing
31/10/2011	New accounts available
21/10/2011	Private document
21/10/2011	Minutes of general meeting of shareholders
13/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
19/06/2011	Bodacc B: Various editing or changing
26/05/2011	Bodacc C : Deposit accounts notice
20/12/2010	Minutes of general meeting of shareholders
20/12/2010	New manager
20/12/2010	Amendment
20/12/2010	Private document
20/12/2010	Appointment/resignation of company officers
17/12/2010	Legal Gazette: Resignation / Revocation of the social representative
01/12/2010	Legal Gazette: Appointment of the social representative
31/10/2010	New accounts available
14/09/2010	Bodacc B: Various editing or changing
11/06/2010	Minutes of general meeting of shareholders
11/06/2010	Private document
07/05/2010	New chairman (CEO, CoB)
07/05/2010	Legal Gazette: Resignation / Revocation of the social representative
07/05/2010	Appointment/resignation of company officers
07/05/2010	Amendment
07/05/2010	Minutes of general meeting of shareholders
02/05/2010	New chairman (CEO, CoB)
02/05/2010	Minutes of general meeting of shareholders
02/05/2010	Appointment/resignation of company officers
02/05/2010	Amendment
02/05/2010	Private document
30/04/2010	Legal Gazette: Resignation / Revocation of the social representative
26/04/2010	Legal Gazette: Appointment of the social representative
09/03/2010	Legal Gazette: Appointment of the social representative
18/12/2009	Bodacc C : Deposit accounts notice
31/10/2009	New accounts available
23/11/2008	Bodacc B: Various editing or changing
23/11/2008	New Bodacc B ads detected
31/10/2008	New accounts available
18/10/2008	Bodacc C : Deposit accounts notice
23/07/2008	Amendment
23/07/2008	Private document
23/07/2008	Private document
23/07/2008	New chairman (CEO, CoB)
23/07/2008	New chairman (CEO, CoB)
23/07/2008	Minutes of Board meeting
23/07/2008	Minutes of Board meeting
23/07/2008	Changes to the Board of Directors
23/07/2008	Changes to the Board of Directors
23/07/2008	Appointment/resignation of company officers
23/07/2008	Appointment/resignation of company officers
09/06/2008	Amendment
09/06/2008	New chairman (CEO, CoB)
09/06/2008	Changes to the Board of Directors
09/06/2008	Appointment/resignation of company officers
09/06/2008	Private document
09/06/2008	Private document
09/06/2008	Appointment/resignation of company officers
09/06/2008	New chairman (CEO, CoB)
09/06/2008	Minutes of Board meeting
09/06/2008	Minutes of Board meeting
09/06/2008	Changes to the Board of Directors
22/02/2008	Bodacc B: Various editing or changing
22/02/2008	New Bodacc B ads detected
31/10/2007	New accounts available
24/10/2007	Amendment
24/10/2007	Appointment/resignation of company officers
24/10/2007	Appointment/resignation of company officers
24/10/2007	Changes to the Board of Directors
24/10/2007	Changes to the Board of Directors
24/10/2007	Minutes of Board meeting
24/10/2007	Minutes of Board meeting
24/10/2007	Private document
24/10/2007	Private document
14/05/2007	Private document
14/05/2007	Minutes of general meeting of shareholders
14/05/2007	Minutes of general meeting of shareholders
14/05/2007	Audit or Management Report
14/05/2007	Audit or Management Report
14/05/2007	Private document
31/10/2006	New accounts available
31/10/2005	New accounts available
08/08/2005	New auditor
08/08/2005	Minutes of general meeting of shareholders
08/08/2005	Appointment/resignation of company officers
08/08/2005	Amendment
08/08/2005	Private document
14/02/2005	Minutes of Board meeting
14/02/2005	Updated articles of association
14/02/2005	Private document
14/02/2005	New closing date
14/02/2005	Minutes of general meeting of shareholders
14/02/2005	Audit or Management Report
14/02/2005	Amendment
31/10/2004	New accounts available
06/09/2004	Private document
06/09/2004	Minutes of general meeting of shareholders
06/09/2004	Minutes of Board meeting
06/09/2004	Changes to the Board of Directors
06/09/2004	Appointment/resignation of company officers
06/09/2004	Amendment
31/03/2004	New accounts available
19/11/2003	Appointment/resignation of company officers
19/11/2003	Changes to the Board of Directors
19/11/2003	Minutes of general meeting of shareholders
19/11/2003	Private document
19/11/2003	Amendment
31/03/2003	New accounts available
26/01/1999	Amendment
26/01/1999	Appointment/resignation of company officers
26/01/1999	Capital increase
26/01/1999	Updated articles of association
26/01/1999	Declaration of conformity
26/01/1999	Minutes of general meeting of shareholders
26/01/1999	Private document
26/01/1999	Changes to the Board of Directors
03/12/1998	Appointment/resignation of company officers
03/12/1998	Audit or Management Report
03/12/1998	Changes to the Board of Directors
03/12/1998	Minutes of Board meeting
03/12/1998	New chairman (CEO, CoB)
03/12/1998	Private document
03/12/1998	Amendment
12/11/1998	Private document
12/11/1998	Planned merger
16/12/1997	Minutes of general meeting of shareholders
16/12/1997	Minutes of Board meeting
16/12/1997	Changes to the Board of Directors
16/12/1997	Amendment
16/12/1997	New chairman (CEO, CoB)
16/12/1997	Private document
16/12/1997	Appointment/resignation of company officers
30/04/1996	Changes to the Board of Directors
30/04/1996	Appointment/resignation of company officers
30/04/1996	Amendment
30/04/1996	Minutes of general meeting of shareholders
10/11/1995	Minutes of general meeting of shareholders
10/11/1995	New manager
10/11/1995	Appointment/resignation of company officers
06/10/1995	Private document
06/10/1995	Registration after transfer
06/10/1995	Planned merger
06/10/1995	Minutes of Board meeting
06/10/1995	Declaration of conformity
06/10/1995	Amendment
06/10/1995	Updated articles of association
03/08/1995	Appointment/resignation of company officers
03/08/1995	Changes to the Board of Directors
03/08/1995	Minutes of general meeting of shareholders
25/07/1995	Audit or Management Report
25/07/1995	Amendment
25/07/1995	Closing or liquidation balance
07/07/1995	Appointment/resignation of company officers
07/07/1995	Minutes of general meeting of shareholders
07/07/1995	Changes to the Board of Directors
29/06/1995	Planned merger
29/06/1995	Private document
26/06/1995	Changes to the Board of Directors
26/06/1995	Appointment/resignation of company officers
26/06/1995	Amendment
18/05/1995	New auditor
18/05/1995	Minutes of general meeting of shareholders
23/11/1993	Company formation
23/11/1993	Declaration of conformity
23/11/1993	Minutes of general meeting of shareholders
23/11/1993	Registered office transferred inside jurisdiction of the Commercial Court
23/11/1993	Registration after transfer
23/11/1993	Updated articles of association
03/11/1993	Amendment
03/11/1993	Appointment/resignation of company officers
03/11/1993	Minutes of Board meeting
03/11/1993	Minutes of general meeting of shareholders
03/11/1993	Registered office transferred outside jurisdiction of the Commercial Court
03/11/1993	Changes to the Board of Directors
29/06/1992	Amendment
29/06/1992	Appointment/resignation of company officers
29/06/1992	Changes to the Board of Directors
29/06/1992	Minutes of Board meeting
29/06/1992	Minutes of general meeting of shareholders
29/06/1992	New chairman (CEO, CoB)
25/05/1992	Declaration of conformity
25/05/1992	Amendment
25/05/1992	Minutes of Board meeting
25/05/1992	Minutes of general meeting of shareholders
25/05/1992	New closing date
25/05/1992	Updated articles of association

Synthesized Accounts

Annual Accounts

	31/10/2014	31/10/2012	31/10/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	22/05/2015	31/05/2013	28/08/2012
Activity Code	2712Z	2712Z	2712Z
Employees	0	0	0

Active account

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	15,219,499	9.7 %	13,872,784	-60.8 %	35,380,203	56,951	26624.1 %
Intangible assets	138,305	-59.3 %	339,971	-6.2 %	362,326	1,608	8501.1 %
Tangible assets	7,952,845	24.1 %	6,407,416	18.4 %	5,413,798	31,969	24777.1 %
Financial assets	7,128,348	0.0 %	7,125,397	-75.9 %	29,604,079	2,885	247025.9 %
Net current assets	79,634,791	33.4 %	59,717,762	4.0 %	57,437,964	818,884	9624.8 %
Stocks	25,854,548	23.8 %	20,891,035	13.3 %	18,431,352	85,419	30167.9 %
Advanced payments	0	0%	0	0%	0	0	0%
Receivables	38,153,519	20.7 %	31,598,149	6.6 %	29,646,753	444,099	8491.2 %
Securities and cash	15,626,727	116.2 %	7,228,578	-22.8 %	9,359,859	127,290	12176.5 %
Prepaid expenses	-	-	-	-	-	1,481	-
Accounts of regularization	70,254	-3.6 %	72,854	-43.0 %	127,733	0	0%
Total Assets	94,924,544	28.9 %	73,663,400	-20.7 %	92,945,900	925,684	10154.5 %

Passive Account

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Shareholders' equity	61,658,061	47.5 %	41,808,617	-30.1 %	59,800,529	358,025	17121.7 %
Share capital	1,520,000	0%	1,520,000	0%	1,520,000	50,000	2940.0 %
Other capital resources	0	0%	150,000	-42.3 %	260,000	0	0%
Risk Provisions	1,662,775	-17.2 %	2,008,829	4.1 %	1,928,792	0	0%
Liabilities	31,455,584	6.2 %	29,631,284	-3.9 %	30,838,437	436,792	7101.5 %
Financial liabilities	15,066	-27.6 %	20,809	-43.9 %	37,070	23,281	-35.3 %
Advanced payments received	332,795	-42.0 %	574,001	31.6 %	436,274	0	0%
Trade account payables	15,314,956	23.1 %	12,440,787	-3.8 %	12,934,842	180,526	8383.5 %
Tax and social liabilities	14,813,326	8.2 %	13,688,844	11.5 %	12,279,005	156,443	9368.8 %
Other debts and fixed assets liabilities	1,093,648	-25.1 %	1,460,657	-3.7 %	1,516,347	6,375	17055.3 %
Account regularization	43,915	-97.1 %	1,510,858	-59.7 %	3,753,040	0	0%
Total liabilities	94,934,544	28.9 %	73,663,402	-20.7 %	92,945,899	925,686	10155.6 %

Results

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Sales of Goods	115,358,049	6.0 %	108,823,502	15.8 %	93,963,894	1,740,954	6526.1 %
Net turnover	104,730,310	2.8 %	101,885,811	23.6 %	82,453,092	1,684,433	6117.5 %
of which net export turnover	65,202,112	11.8 %	58,317,797	12.4 %	51,872,383	0	0%
Operating charges	102,098,056	5.8 %	96,493,961	14.5 %	84,291,711	1,658,702	6055.3 %
Operating profit/loss	13,259,994	7.5 %	12,329,541	27.5 %	9,672,183	37,972	34820.5 %
Financial income	1,144,824	-46.6 %	2,145,292	-3.2 %	2,215,226	486	235703.1 %
Financial charges	833,266	-53.7 %	1,799,752	39.2 %	1,292,928	1,920	43310.6 %
Financial profit/loss	311,557	-9.8 %	345,540	-62.5 %	922,298	-463	67390.9 %
Pretax net operating income	13,571,551	7.1 %	12,675,081	19.6 %	10,594,481	37,927	35683.3 %
Extraordinary income	2,149,009	9.0 %	1,970,678	5.6 %	1,866,336	834	257729.5 %
Extraordinary charges	2,151,200	5.3 %	2,043,829	-4.5 %	2,141,039	840	256147.8 %
Extraordinary profit/loss	-2,191	97.0 %	-73,150	73.4 %	-274,703	0	0%
Net result	9,357,494	5.1 %	8,900,852	39.0 %	6,402,196	38,934	23934.6 %

Accounts – Active

Normal Account

	31/10/2014		31/10/2012		31/10/2011
Months	12		12		12

Grand Total - Active Accounts (I to VI)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Grand Total (I to VI)	Net	94,924,544	28.9 %	73,663,400	-20.7 %	92,945,900
Gross	CO	127,478,260	24.8 %	102,152,439	-14.6 %	119,575,383
Amortisation	1A	32,553,717	14.3 %	28,489,039	7.0 %	26,629,483

Non declared distributed capital (I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total Active fixed asset (II)	Net	15,219,499	9.7 %	13,872,784	-60.8 %	35,380,203
Gross	BJ	40,524,251	12.3 %	36,098,026	-35.6 %	56,078,458
Amortisation	BK	25,304,753	13.9 %	22,225,243	7.4 %	20,698,255

Intangible fixed assets

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Start-up cost	Net	0	0%	0	0%	0
Gross	AB	0	0%	0	0%	0
Amortisation	AC	0	0%	0	0%	0
R&D expenses	Net	0	0%	0	0%	0
Gross	CX	0	0%	0	0%	0
Amortisation	AE	0	0%	0	0%	0
Distributorships, patents	Net	129,295	-60.6 %	328,506	-9.3 %	362,326
Gross	AF	3,983,031	8.1 %	3,685,904	7.3 %	3,434,126
Amortisation	AG	3,853,736	14.8 %	3,357,399	9.3 %	3,071,800
Goodwill	Net	9,010	-21.4 %	11,465	0%	0
Gross	AH	12,276	0%	12,276	0%	0
Amortisation	AI	3,266	302.7 %	811	0%	0
Other intangible fixed assets	Net	0	0%	0	0%	0
Gross	AJ	6,106	0%	6,106	0%	6,106
Amortisation	AK	6,106	0%	6,106	0%	6,106
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 asset	Net	138,305	-59.3 %	339,971	-6.2 %	362,326

Tangilble fixed assets

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Lands	Net	222,235	0%	222,235	0%	222,235
Gross	AN	222,235	0%	222,235	0%	222,235
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	1,365,637	-22.5 %	1,762,432	-10.2 %	1,963,159
Gross	AP	5,554,331	0%	5,554,331	0.0 %	5,554,332
Amortisation	AQ	4,188,694	10.5 %	3,791,900	5.6 %	3,591,173
Plant	Net	3,871,492	20.3 %	3,218,461	45.0 %	2,219,686
Gross	AR	17,355,626	15.7 %	15,001,831	13.7 %	13,188,428
Amortisation	AS	13,484,134	14.4 %	11,783,369	7.4 %	10,968,742
Other tangible fixed assets	Net	951,651	32.4 %	718,603	-9.9 %	797,571
Gross	AT	4,718,914	17.9 %	4,002,707	3.8 %	3,856,451
Amortisation	AU	3,767,263	14.7 %	3,284,104	7.4 %	3,058,880
Fixed assets in construction	Net	1,541,830	217.5 %	485,685	130.0 %	211,147
Gross	AV	1,541,830	217.5 %	485,685	130.0 %	211,147
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	7,952,845	24.1 %	6,407,416	18.4 %	5,413,798

Financial assets

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	1,612,769	0%	1,612,769	0%	1,612,769
Gross	CU	1,614,323	0%	1,614,323	0%	1,614,323
Amortisation	CV	1,554	0%	1,554	0%	1,554
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	5,494,359	0.1 %	5,491,408	-80.4 %	27,970,090
Gross	BF	5,494,359	0.1 %	5,491,408	-80.4 %	27,970,090
Amortisation	BG	0	0%	0	0%	0
Other financial assets	Net	21,220	0%	21,220	0%	21,220
Gross	BH	21,220	0%	21,220	0%	21,220
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial assets	Net	7,128,348	0.0 %	7,125,397	-75.9 %	29,604,079

Current Assets (III)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total Assets	Net	79,634,791	33.4 %	59,717,762	4.0 %	57,437,964
Gross	CJ	86,883,755	31.7 %	65,981,559	4.1 %	63,369,192
Amortisation	CK	7,248,964	15.7 %	6,263,796	5.6 %	5,931,228

Stocks

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Raw materials	Net	8,941,425	13.2 %	7,898,612	8.7 %	7,263,997
Gross	BL	13,359,558	9.4 %	12,217,145	8.3 %	11,282,669
Amortisation	BM	4,418,133	2.3 %	4,318,533	7.5 %	4,018,672
Work in progress (goods)	Net	8,098,559	22.1 %	6,633,300	6.6 %	6,222,364
Gross	BN	8,098,559	22.1 %	6,633,300	6.6 %	6,222,364
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	1,459,273	139.6 %	609,042	24.4 %	489,467
Gross	BP	1,459,273	139.6 %	609,042	24.4 %	489,467
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	6,708,864	30.6 %	5,137,813	29.7 %	3,960,839
Gross	BR	8,585,684	38.0 %	6,223,723	22.4 %	5,085,162
Amortisation	BS	1,876,820	72.8 %	1,085,910	-3.4 %	1,124,323
Goods for resale	Net	646,427	5.6 %	612,268	23.8 %	494,685
Gross	BT	646,427	5.6 %	612,268	23.8 %	494,685
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	25,854,548	23.8 %	20,891,035	13.3 %	18,431,352

Advance payments to suppliers

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Advance payments to suppliers	Net	0	0%	0	0%	0
Gross	BV	0	0%	0	0%	0
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Trade accounts receivable	Net	27,216,075	14.1 %	23,848,753	3.1 %	23,127,630
Gross	BX	28,170,086	14.0 %	24,708,106	3.3 %	23,915,863
Amortisation	BY	954,011	11.0 %	859,353	9.0 %	788,233
Other debtors	Net	10,687,530	43.2 %	7,464,505	18.7 %	6,290,421
Gross	BZ	10,687,530	43.2 %	7,464,505	18.7 %	6,290,421
Amortisation	CA	0	0%	0	0%	0
Capital subscribed and called up	Net	0	0%	0	0%	0
Gross	CB	0	0%	0	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total debtors	Net	37,903,605	21.0 %	31,313,258	6.4 %	29,418,051

Divers

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	15,626,727	116.2 %	7,228,578	-22.8 %	9,359,859
Gross	CF	15,626,727	116.2 %	7,228,578	-22.8 %	9,359,859
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	15,626,727	116.2 %	7,228,578	-22.8 %	9,359,859

Prepaid expenses

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Prepaid expenses	Net	249,914	-12.3 %	284,891	24.6 %	228,702
Gross	CH	249,914	-12.3 %	284,891	24.6 %	228,702
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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	70,254	-3.6 %	72,854	-43.0 %	127,733
Gross		70,254	-3.6 %	72,854	-43.0 %	127,733

References

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Due within one year	CP	144,359	2.1 %	141,408	-77.2 %	620,690
Due after one year	CR	760,760	-22.2 %	978,006	58.7 %	616,299

Accounts – Passive

Grand Total - Passive Accounts (I to V)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Grand Total (I to V)	EE	94,934,544	28.9 %	73,663,402	-20.7 %	92,945,899

Shareholder Equity (I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total shareholders' equity (Total I)	DL	61,658,061	47.5 %	41,808,617	-30.1 %	59,800,529
Equity and shareholders' equity	DA	1,520,000	0%	1,520,000	0%	1,520,000
Issue and merger premiums	DB	7,707,694	0%	7,707,694	0%	7,707,694
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	152,449	0%	152,449	0%	152,449
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	4,490	0%	4,490	0%	4,490
Of which reserve for buying originals works from alive artists	EJ	0	0%	0	0%	0
Profits or losses brought forward	DH	41,679,256	84.3 %	22,611,389	-47.6 %	43,142,380
Profit or loss for the period	DI	9,357,494	5.1 %	8,900,852	39.0 %	6,402,196
Investment grants	DJ	245,562	57.4 %	156,053	-20.9 %	197,390
Special tax-allowable reserves	DK	991,116	31.2 %	755,689	12.1 %	673,930

Other capital resources (II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total other capital resources (Total II)	DO	0	0%	150,000	-42.3 %	260,000
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	150,000	-42.3 %	260,000

Provisions for risks and charges (III)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total provisions for risks and charges (Total III)	DR	1,662,775	-17.2 %	2,008,829	4.1 %	1,928,792
Risk provisions	DP	1,174,473	28.7 %	912,421	-23.2 %	1,187,914
Reserves for charges	DQ	488,303	-55.5 %	1,096,407	48.0 %	740,878

Liabilities (IV)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total Liabilities (Total IV)	EC	31,455,584	6.2 %	29,631,284	-3.9 %	30,838,437
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	15,066	-27.6 %	20,809	-43.9 %	37,070
Sundry loans and financial liabilities	DV	0	0%	0	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	332,795	-42.0 %	574,001	31.6 %	436,274
Trade accounts payables	DX	15,314,956	23.1 %	12,440,787	-3.8 %	12,934,842
Tax and social security liabilities	DY	14,813,326	8.2 %	13,688,844	11.5 %	12,279,005
Fixed asset liabilities	DZ	5,224	-63.2 %	14,179	0%	14,179
Other debts	EA	930,301	-32.7 %	1,381,806	-0.2 %	1,384,027

Translation loss (V)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Translation loss (Total V)	ED	158,123	144.5 %	64,672	-45.3 %	118,141

Equalization accounts

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Deferred income	EB	43,915	-97.1 %	1,510,858	-59.7 %	3,753,040

References

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	31,455,584	6.2 %	29,631,283	-2.5 %	30,392,215
Of which current bank facilities	EH	15,066	-27.6 %	20,809	0%	0

Result account

1 - Operating result (I-II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Operating result (Total I-II)	GG	13,259,994	7.5 %	12,329,541	27.5 %	9,672,183

2 - Financial result (V-VI)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Financial result (Total V-VI)	GV	311,557	-9.8 %	345,540	-62.5 %	922,298

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

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	13,571,551	7.1 %	12,675,081	19.6 %	10,594,481

4 - Extraordinary result (VII-VIII)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Extraordinary result (Total VII-VIII)	HI	-2,191	97.0 %	-73,150	73.4 %	-274,703

Profit or loss

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Profit or loss	HN	9,357,494	5.1 %	8,900,852	39.0 %	6,402,196

Total Income (I+III+V+VII)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total Income (Total I+III+V+VII)	HL	118,651,882	5.1 %	112,939,473	15.2 %	98,045,456

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

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total Charges (Total II+IV+VI+VIII+IX+X)	HM	109,294,388	5.1 %	104,038,621	13.5 %	91,643,260

Operating income (I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total operating income (Total I)	FR	115,358,049	6.0 %	108,823,502	15.8 %	93,963,894

Operating income (details)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Sale of goods for resale	FC	6,282,229	-23.5 %	8,207,848	14.8 %	7,146,676
France	FA	293,420	-9.4 %	324,028	9.2 %	296,759
Export	FB	5,988,809	-24.0 %	7,883,820	15.1 %	6,849,917
Sale of goods produced	FF	91,959,331	14.0 %	80,700,685	13.5 %	71,076,288
France	FD	34,439,411	8.9 %	31,633,528	17.0 %	27,046,377
Export	FE	57,519,920	17.2 %	49,067,157	11.4 %	44,029,911
Sale of services	FI	6,488,751	-50.0 %	12,977,278	206.8 %	4,230,128
France	FG	4,795,368	-58.7 %	11,610,458	258.6 %	3,237,573
Export	FH	1,693,383	23.9 %	1,366,820	37.7 %	992,555
Net turnover	FL	104,730,310	2.8 %	101,885,811	23.6 %	82,453,092
France	FJ	39,528,198	-9.3 %	43,568,013	42.5 %	30,580,709
Export	FK	65,202,112	11.8 %	58,317,797	12.4 %	51,872,383
Stocked production	FM	3,201,477	648.6 %	427,643	-93.8 %	6,880,587
Self-constructed assets	FN	333,940	1059.0 %	28,812	0%	0
Operating grants	FO	18,223	-29.3 %	25,771	-20.1 %	32,240
Release of reserves and provisions	FP	6,985,499	10.7 %	6,308,927	42.5 %	4,426,087
Other income	FQ	88,599	-39.5 %	146,538	-14.7 %	171,888

Operating charges (II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total operating charges (Total II)	GF	102,098,056	5.8 %	96,493,961	14.5 %	84,291,711

Exploitation charges

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Purchase of goods for resale	FS	5,519,840	-21.7 %	7,051,185	12.4 %	6,273,978
Change in stocks of goods for resale	FT	-411,056	-132.2 %	1,278,278	944.6 %	-151,354
Purchase of raw materials	FU	37,175,712	38.7 %	26,803,934	15.8 %	23,145,643
Change in stocks of raw materials	FV	-998,161	60.9 %	-2,554,527	-5.2 %	-2,428,737
Other external purchases and charges	FW	18,723,128	-27.1 %	25,683,679	17.5 %	21,858,769
Tax, duty and similar payments	FX	2,352,860	6.2 %	2,215,465	7.1 %	2,068,252
Payroll	FY	21,819,782	9.2 %	19,975,994	6.4 %	18,768,021
Social security costs	FZ	8,731,205	7.4 %	8,130,003	10.4 %	7,365,732

Depreciation

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Depreciation of fixed assets	GA	1,885,561	21.3 %	1,555,030	9.3 %	1,422,433
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	7,248,964	15.7 %	6,263,796	5.6 %	5,931,227
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Other charges	GE	50,221	-44.9 %	91,124	141.4 %	37,747

Operating charges (III-IV)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total financial income (Total V)	GP	1,144,824	-46.6 %	2,145,292	-3.2 %	2,215,226
Share financial income	GJ	314,094	0%	0	0%	115,466
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	231,650	-68.6 %	738,545	-14.3 %	862,178
Released provisions and transferred charges	GM	61,749	-84.0 %	385,387	86.9 %	206,210
Exchange gains	GN	537,331	-47.4 %	1,021,361	-1.0 %	1,031,372
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial charge (VI)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total financial charge (Total VI)	GU	833,266	-53.7 %	1,799,752	39.2 %	1,292,928
Financial reserves and provisions	GQ	70,254	-85.0 %	467,145	266.5 %	127,466
Interest and similar charges	GR	60,517	-37.8 %	97,350	-8.5 %	106,377
Exchange losses	GS	702,495	-43.1 %	1,235,257	16.6 %	1,059,085
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total extraordinary income (Total VII)	HD	2,149,009	9.0 %	1,970,678	5.6 %	1,866,336
Extraordinary operating income	HA	273,271	51170.4 %	533	0%	0
Extraordinary income from capital transactions	HB	83,877	102.8 %	41,354	-30.6 %	59,553
Released provisions and transferred charges	HC	1,791,862	-7.1 %	1,928,792	6.8 %	1,806,783

Extraordinary charges (VIII)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total extraordinary charges (Total VIII)	HH	2,151,200	5.3 %	2,043,829	-4.5 %	2,141,039
Extraordinary operating charges	HE	159,549	371.1 %	33,864	146.8 %	13,719
Extraordinary charges from capital transactions	HF	2,423	113.3 %	1,136	-95.5 %	25,516
Extraordinary reserves and provisions	HG	1,989,228	-1.0 %	2,008,829	-4.4 %	2,101,804

Employee profit sharing (IX)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Employee profit sharing (Total IX)	HJ	1,099,842	-19.2 %	1,361,722	-19.4 %	1,690,000

Tax on profits (X)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Tax on profits (Total X)	HK	3,112,024	33.0 %	2,339,357	5.0 %	2,227,582

References

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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	296,366	-21.5 %	377,700	36.3 %	277,083
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

Grand Total Fixed Assets (I to IV)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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	566,695	-97.5 %	22,735,432	5362.1 %	416,237
Gross value at the end of period	OL	40,524,251	12.3 %	36,098,026	-35.6 %	56,078,458

Research and development Charge (Total I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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%	2	0%	0
Gross value at the end of period	DO	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Gross value at begin of period	KD	3,944,834	14.7 %	3,440,232	3.9 %	3,310,464
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	123,040	-53.4 %	264,054	103.5 %	129,768
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	66,461	0%	0	0%	0
Gross value at the end of period	LW	4,001,413	8.0 %	3,704,286	7.7 %	3,440,232

Tangible fixed assets (Total III)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Gross value at begin of period	LN	27,383,832	18.9 %	23,032,592	5.6 %	21,808,882
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	2,509,338	10.9 %	2,263,572	62.6 %	1,392,419
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	500,234	1602.9 %	29,375	-82.6 %	168,708
Gross value at the end of period	NH	29,392,936	16.3 %	25,266,789	9.7 %	23,032,593

Financial assets (Total IV)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Gross value at begin of period	LQ	7,126,951	-75.9 %	29,605,633	314.2 %	7,146,926
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	2,950	-98.7 %	227,375	-99.0 %	22,706,236
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	0	0%	22,706,057	9073.1 %	247,529
Gross value at the end of period	NK	7,129,901	0.0 %	7,126,951	-75.9 %	29,605,633

Reserve for depreciation

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

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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 at the end of period	OR	0	0%	0	0%	0

Research and development charge (Total I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases	PB	0	0%	0	0%	0
Decreasess	PC	0	0%	0	0%	0
Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Reserve for depreciation value at begin of period	PE	3,681,062	19.6 %	3,077,905	9.6 %	2,808,718
Increases	PF	248,506	-13.2 %	286,411	6.4 %	269,187
Decreasess	PG	66,461	0%	0	0%	0
Decreasess by budget item transfer	PH	3,863,108	14.8 %	3,364,315	9.3 %	3,077,905

Total fixed assets amotisation (Total III)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Reserve for depreciation value at begin of period	QU	19,900,461	13.0 %	17,618,794	6.0 %	16,618,290
Increases	QV	1,637,013	29.0 %	1,268,819	10.0 %	1,153,246
Decreases	QW	97,383	244.9 %	28,239	-81.5 %	152,742
Decreasess by budget item transfer	QX	21,440,090	13.7 %	18,859,374	7.0 %	17,618,794

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Net value at begin of period	SP1	0	0%	0	0%	0
Increases	SP2	0	0%	2	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)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Value at begining of period	7C	9,138,706	7.1 %	8,535,503	30.6 %	6,537,001
Increases	UB	9,308,447	6.5 %	8,739,770	7.1 %	8,160,499
Decreases	UC	8,542,745	3.6 %	8,245,407	33.8 %	6,161,996
Value at the end of period	UD	9,904,410	9.7 %	9,029,867	5.8 %	8,535,504

Includes Total allocations

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Operating	UE	0	0%	0	0%	5,931,227
Financial	UG	0	0%	0	0%	127,466
Exceptional	UJ	0	0%	0	0%	2,101,804

Includes Total Withdrawal

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Operating	UF	0	0%	0	0%	4,149,003
Financial	UH	0	0%	0	0%	206,210
Exceptional	UK	0	0%	0	0%	1,806,783

Total regulated provisions (Total I)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Value at begining of period	3Z	0	0%	0	0%	580,338
Increases	TS	0	0%	0	0%	300,479
Decreases	TT	0	0%	0	0%	206,887
Value at the end of period	TU	0	0%	0	0%	673,930

Total risk and charge provisions (Total II)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Value at begining of period	5Z	1,536,995	-20.3 %	1,928,791	6.8 %	1,806,106
Increases	TV	1,662,775	-17.2 %	2,008,828	4.1 %	1,928,792
Decreases	TW	1,536,996	-20.3 %	1,928,792	6.8 %	1,806,106
Value at the end of period	TX	1,662,775	-17.2 %	2,008,829	4.1 %	1,928,792

Total Provision for depreciation (Total III)

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Value at begining of period	7B	6,690,687	12.8 %	5,932,781	42.9 %	4,150,557
Increases	TY	7,248,964	15.7 %	6,263,796	5.6 %	5,931,228
Decreases	TZ	6,689,133	12.8 %	5,931,228	43.0 %	4,149,003
Value at the end of period	UA	7,250,518	15.7 %	6,265,349	5.6 %	5,932,782

State deadlines claims and debts at the end of period

State claims

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Gross value	VT	44,623,108	17.5 %	37,970,131	0%	0
1 year at most	VU	38,491,129	21.7 %	31,620,905	0%	0
More than one year	VV	6,131,979	-3.4 %	6,349,226	0%	0

State of loans

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
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	5,494,359	0.1 %	5,491,408	0%	0
Loans (1 year at most)	UR	144,359	2.1 %	141,408	0%	0
Other financial assets (gross)	UT	21,220	0%	21,220	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Customers doubtful or disputed	VA	336,738	56.2 %	215,586	0%	0
Other claims customer	UX	27,833,347	13.6 %	24,492,519	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	33,832	1087.1 %	2,850	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	5,855,695	13.6 %	5,153,272	0%	0
Value added tax	VB	1,181,964	87.1 %	631,672	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	284,640	103.3 %	140,000	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	3,331,399	116.8 %	1,536,711	0%	0

Prepaid

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Prepaid	VS	249,914	-12.3 %	284,891	0%	0

State Debt

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Total debt (gross)	VY	31,122,788	7.1 %	29,057,282	0%	0
1 year at most	VZ2	31,122,788	7.1 %	29,057,283	0%	0
More than 1 year and 5 years at most	VZ3	0	0%	0	0%	0
More than 5 years	VZ4	0	0%	0	0%	0

Details

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most	7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most	7Y3	0	0%	0	0%	0
Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most	7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most	7Z3	0	0%	0	0%	0
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	15,066	-27.6 %	20,809	0%	0
1 year at most	VG2	15,066	-27.6 %	20,809	0%	0
More than 1 year and 5 years at most	VG3	0	0%	0	0%	0
Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most	VH2	0	0%	0	0%	0
More than 1 year and 5 years at most	VH3	0	0%	0	0%	0
Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most	8A2	0	0%	0	0%	0
More than 1 year and 5 years at most	8A3	0	0%	0	0%	0
Suppliers and associated accounts (gross)	8B1	15,314,956	23.1 %	12,440,787	0%	0
1 year at most	8B2	15,314,956	23.1 %	12,440,787	0%	0
More than 1 year and 5 years at most	8B3	15,314,956	23.1 %	12,440,787	0%	0
Personnel and associated accounts (gross)	8C1	6,038,108	2.4 %	5,895,891	0%	0
1 year at most	8C2	6,038,108	2.4 %	5,895,891	0%	0
More than 1 year and 5 years at most	8C3	0	0%	0	0%	0
Social Security and other social organizations (gross)	8D1	4,088,251	22.9 %	3,327,613	0%	0
1 year at most	8D2	4,088,251	22.9 %	3,327,613	0%	0
More than 1 year and 5 years at most	8D3	0	0%	0	0%	0
Taxes on profits (gross)	8E1	4,126,571	7.5 %	3,837,798	0%	0
1 year at most	8E2	4,126,571	7.5 %	3,837,798	0%	0
More than 1 year and 5 years at most	8E3	0	0%	0	0%	0
VAT (Gross)	VW1	0	0%	0	0%	0
1 year at most	VW2	0	0%	0	0%	0
More than 1 year and 5 years at most	VW3	0	0%	0	0%	0
Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most	VX2	0	0%	0	0%	0
More than 1 year and 5 years at most	VX3	0	0%	0	0%	0
Other taxes and assimilated (gross)	VQ1	560,396	-9.9 %	621,658	0%	0
1 year at most	VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most	VQ3	0	0%	0	0%	0
Assets and liabilities associated accounts (gross)	8J1	5,224	-63.2 %	14,179	0%	0
1 year at most	8J2	5,224	-63.2 %	14,179	0%	0
More than 1 year and 5 years at most	8J3	0	0%	0	0%	0
More than 5 years	8J4	0	0%	0	0%	0
Groups and associates (gross)	VI1	0	0%	5,884	0%	0
1 year at most	VI2	0	0%	5,884	0%	0
More than 1 year and 5 years at most	VI3	0	0%	0	0%	0
More than 5 years	V14	0	0%	0	0%	0
Other liabilities (gross)	8K1	930,301	-32.7 %	1,381,806	0%	0
1 year at most	8K2	930,301	-32.7 %	1,381,806	0%	0
More than 1 year and 5 years at most	8K3	0	0%	0	0%	0
Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most	SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most	SZ3	0	0%	0	0%	0
Products in advance (gross)	8L1	43,915	-97.1 %	1,510,858	0%	0
1 year at most	8L2	43,915	-97.1 %	1,510,858	0%	0
More than 1 year and 5 years at most	8L3	0	0%	0	0%	0

References

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information

Dividends distributed

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Commitments leasing furniture	YQ	0	0%	397,487	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

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Subcontracting	YT	0	0%	7,821,457	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	909,350	0%	0
Staff outside the company	YU	0	0%	7,687,111	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	2,793,618	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	6,472,142	0%	0
Total Other purchases and external	ZJ	0	0%	25,683,679	0%	0

Taxes and Fees

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Business tax	YW	0	0%	813,485	0%	0
Other taxes and payments assimilated	9Z	0	0%	1,401,979	0%	0
Total taxes and fees	YX	0	0%	2,215,464	0%	0

VAT

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Amount VAT collected	YY	0	0%	8,362,728	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/10/2014	Variation	31/10/2012	Variation	31/10/2011
Groups and Shareholders	ZR	0	-	-	-	-

Ratios

Structure and Liquidity

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Fixed Asset Financing	2.19	19.7 %	1.83	23.6 %	1.48	2.42	-9.5 %
Global Debt	108 days	2.9 %	105 days	-22.2 %	135 days	94 days	14.9 %
Working Capital Fund overall net	165 days	55.7 %	106 days	-8.6 %	116 days	79 days	108.9 %
Financial independence	409,253.03 %	103.7 %	200,916.03 %	24.5 %	161,317.86 %	514.63 %	79423.7 %
Solvability	64.95 %	14.0 %	56.96 %	-11.9 %	64.62 %	45.20 %	43.7 %
Capacity debt futures	409,253.03 %	103.7 %	200,916.03 %	-	-	3,019.58 %	13453.3 %
Coverage of current assets by net working capital overall	55.52 %	21.2 %	45.81 %	8.6 %	42.20 %	47.38 %	17.2 %
General Liquidity	1.24	13.8 %	1.09	-	-	0.93	33.3 %
Restricted Liquidity	1.74	29.9 %	1.34	-	-	1.43	21.7 %

Management or rotation

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Need background in operating working capital	111 days	30.6 %	85 days	-6.6 %	91 days	39 days	184.6 %
Treasury	54 days	116.0 %	25 days	-39.0 %	41 days	25 days	116.0 %
Inventory turnover of goods	46 days	76.9 %	26 days	-10.3 %	29 days	0 days	0%
Average length of credit granted to customers	97 days	19.8 %	81 days	-22.1 %	104 days	70 days	38.6 %
Average length of credit obtained suppliers	92 days	19.5 %	77 days	-19.8 %	96 days	67 days	38.3 %
Inventory turnover of raw materials in industrial enterprises	111 days	-12.6 %	127 days	-5.9 %	135 days	34 days	226.5 %
Inventory turnover of intermediate and finished products in the industrial enterprise	356 days	-11.7 %	403 days	12.6 %	358 days	787 days	-54.8 %
Rotation tangible assets	356.31 %	-11.6 %	403.24 %	12.6 %	357.98 %	859.88 %	-58.6 %

Profitability of the business

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Margin trading	1.12 %	1033.3 %	-0.12 %	-109.7 %	1.24 %	0.00 %	0%
Profitability of the business	14.68 %	8.5 %	13.53 %	-10.5 %	15.12 %	3.71 %	295.7 %
Net profit	8.93 %	2.2 %	8.74 %	12.6 %	7.76 %	2.70 %	230.7 %
Growth rate of turnover (excluding VAT)	0.00 %	0%	23.57 %	0%	0.00 %	0.77 %	0%
Rates integration	46.08 %	6.5 %	43.26 %	-12.2 %	49.28 %	35.94 %	28.2 %
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.00 %	0%
Work Factor	63.31 %	-0.7 %	63.76 %	-0.9 %	64.31 %	81.92 %	-22.7 %
Weight interests	0.80 %	-54.8 %	1.77 %	12.7 %	1.57 %	0.14 %	471.4 %

Return on capital

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Cash flow from the overall profitability	12.62 %	-0.2 %	12.65 %	170.3 %	4.68 %	3.43 %	267.9 %
Rates of economic profitability	25.00 %	-24.2 %	33.00 %	57.1 %	21.00 %	15.00 %	66.7 %
Financial profitability	61,658,061.00 %	46.9 %	41,958,617.00 %	-30.1 %	60,060,529.00 %	358,024.50 %	17121.7 %
Return on investment	16.52 %	-35.2 %	25.49 %	99.1 %	12.80 %	10.70 %	54.4 %

Management intermediate balances

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Turnover	104,730,310	2.8 %	101,885,811	23.6 %	82,453,092	1,684,433	6117.5 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Sales of goods	6,282,229	-23.5 %	8,207,848	14.8 %	7,146,676		-
- Purchase of goods	5,519,840	-21.7 %	7,051,185	12.4 %	6,273,978		-
+/- Stock of goods variation	-411,056	-132.2 %	1,278,278	944.6 %	-151,354		-
Trading margin	1,173,445 €	1064.9 %	-121,615 €	-111.9 %	1,024,052 €	0 €	0%
	1.12 % CA	1033.3 %	-0.12 % CA	-109.7 %	1.24 % CA	0.00 % CA	0%

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Sale of goods produced	98,448,082	5.1 %	93,677,963	24.4 %	75,306,416		-
+/- Stocked production	3,201,477	648.6 %	427,643	-93.8 %	6,880,587		-
+ Self-constructed assets	333,940	1059.0 %	28,812	0%	0		-
Period production	101,983,499 €	8.3 %	94,134,418 €	14.5 %	82,187,003 €	1,689,530 €	5936.2 %
	97.38 % CA	5.4 %	92.39 % CA	-7.3 %	99.68 % CA	100.00 % CA	-2.6 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Trading margin	1,173,445	1064.9 %	-121,615	-111.9 %	1,024,052	0	0%
+ Period Production	101,983,499	8.3 %	94,134,418	14.5 %	82,187,003	1,689,530	5936.2 %
- Purchase of raw materials	37,175,712	38.7 %	26,803,934	15.8 %	23,145,643		-
+/- Change in stocks of raw materiels	-998,161	60.9 %	-2,554,527	-5.2 %	-2,428,737		-
- Other external purchases and charges	18,723,128	-27.1 %	25,683,679	17.5 %	21,858,769		-
Added value	48,256,265 €	9.5 %	44,079,717 €	8.5 %	40,635,380 €	602,576 €	7908.3 %
	46.08 % CA	6.5 %	43.26 % CA	-12.2 %	49.28 % CA	35.94 % CA	28.2 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Added value	48,256,265 €	9.5 %	44,079,717 €	8.5 %	40,635,380 €	602,576 €	7908.3 %
+ Operating grants	18,223	-29.3 %	25,771	-20.1 %	32,240		-
- Tax, duty and similar payments	2,352,860	6.2 %	2,215,465	7.1 %	2,068,252		-
- Personal charges	30,550,987	8.7 %	28,105,997	7.5 %	26,133,753		-
Gross operating surplus	15,370,641 €	11.5 %	13,784,026 €	10.6 %	12,465,615 €	48,182 €	31801.2 %
	14.68 % CA	8.5 %	13.53 % CA	-10.5 %	15.12 % CA	3.71 % CA	295.7 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Gross operating surplus	15,370,641 €	11.5 %	13,784,026 €	10.6 %	12,465,615 €	48,182 €	31801.2 %
+ Release of reserves and provisions	6,985,499	10.7 %	6,308,927	42.5 %	4,426,087		-
+ Other operating income	88,599	-39.5 %	146,538	-14.7 %	171,888		-
- Depreciation/ Amortisation	9,134,525	16.8 %	7,818,826	6.3 %	7,353,660		-
- Other charges	50,221	-44.9 %	91,124	141.4 %	37,747		-
Operating result	13,259,993 €	7.5 %	12,329,541 €	27.5 %	9,672,183 €	37,970 €	34822.3 %
	12.66 % CA	4.6 %	12.10 % CA	3.2 %	11.73 % CA	3.24 % CA	290.7 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Operating result	13,259,993 €	7.5 %	12,329,541 €	27.5 %	9,672,183 €	37,970 €	34822.3 %
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0		-
+ Financial income	1,144,824	-46.6 %	2,145,292	-3.2 %	2,215,226		-
- Financial charges	833,266	-53.7 %	1,799,752	39.2 %	1,292,928		-
Pre-tax result	13,571,551 €	7.1 %	12,675,081 €	19.6 %	10,594,481 €	37,927 €	35683.8 %
	12.96 % CA	4.2 %	12.44 % CA	-3.2 %	12.85 % CA	3.06 % CA	323.5 %

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Extraordinary income	2,149,009	9.0 %	1,970,678	5.6 %	1,866,336	834	257729.5 %
- Extraordinary charges	2,151,200	5.3 %	2,043,829	-4.5 %	2,141,039		-
Extraordinary result	-2,191 €	97.0 %	-73,151 €	73.4 %	-274,703 €	0 €	0%
	0.00 % CA	0%	-0.07 % CA	78.8 %	-0.33 % CA	0.00 % CA	0%

	31/10/2014	Variation	31/10/2012	Variation	31/10/2011	SECTOR MEDIAN 2014
Pre-tax result	13,571,551 €	7.1 %	12,675,081 €	19.6 %	10,594,481 €	37,927 €	35683.8 %
Extraordinary result	-2,191 €	97.0 %	-73,151 €	73.4 %	-274,703 €	0 €	0%
- Employee profit sharing	1,099,842	-19.2 %	1,361,722	-19.4 %	1,690,000		-
- Tax on profits	3,112,024	33.0 %	2,339,357	5.0 %	2,227,582		-
Net result	9,357,494 €	5.1 %	8,900,851 €	39.0 %	6,402,196 €	38,934 €	23934.2 %
	8.93 % CA	2.2 %	8.74 % CA	12.6 %	7.76 % CA	2.70 % CA	230.7 %

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.10
UK Pound	1	Rs.100.89
Euro	1	Rs.73.96

INFORMATION DETAILS

Analysis Done by :	KIN

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

Company summary

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Ultimate Holding Company

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Commentary

Industry comparison

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Preferential rights details and history

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Status history

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