MIRA INFORM REPORT

Report No. :	494087
Report Date :	01.03.2018

IDENTIFICATION DETAILS

Name :	ECHOSENS
Registered Office :	Echosens,30 Place D Italie,75013 Paris
Country :	France
Financials (as on) :	31.12.2016
Date of Incorporation :	June 2001
Legal Form :	Public limited company with board of directors
Line of Business :	Wholesale trade (business-to-business) of pharmaceutical products
No. of Employees :	93

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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. France is the most visited country in the world with 83 million foreign tourists in 2016, including 530,000 visitors for the 2016 Euro Cup. 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 grew by 1.6% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.5% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 24% in the fourth quarter of 2016.

France’s public finances have historically been strained by high spending and low growth. Despite measures to restore public finances, the budget deficit rose from 3.3% of GDP in 2008 to 7.5% of GDP in 2009. In 2017, the budget deficit improved to 2.9% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 96.9% in 2017.

Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France’s labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON’s proposed 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power.

Source : CIA

Company name and address

SIRET	438 209 157 00066	Click to view full map.
Name	ECHOSENS
Acronym	-
Trade name	-
Status	Economically active
Postal Address	ECHOSENS 30 PLACE D ITALIE 75013 PARIS FRANCE
Share Capital	264,850 Euros
Telephone	01 44 82 78 50
Activity (APE)	Wholesale trade (business-to-business) of pharmaceutical products (4646Z)	RCS Registration	RCS Paris B 438 209 157
Formation Date	06/2001	EUR VAT Number	FR63438209157
Deregistration Date	-	Last account Date	31/12/2016
Court Registry Number	20 0 1B10077	Incorporiation Date	06/2001
Registration Court	Paris (75)	Fax	01 44 82 78 60
Nationality	France	Legal form	Public limited company with board of directors
			Currency

Key Financials

Year to date	Turnover	Gross operating surplus	Shareholder's equity	Net result	Employees
31/12/2016	47,479,623 €	46% Turnover	72,073,092 €	12,831,813 €	93 employees
31/12/2015	32,427,639 €	38.47% Turnover	58,647,215 €	7,353,883 €	79 employees
31/12/2014	28,061,760 €	41.11% Turnover	20,816,408 €	7,536,716 €	85 employees

View details

Directors

Current Directors

14

View Details

Judgment and Preferential

Judgment	No judgement
Preferential Right	No social security and tax office preferential right to date

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	8299Z	Activity	Autres activités de soutien aux entreprises n.c.a.
Formation Date	06/2012	Reason for Formation	Formation
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	-	Activity Location	-
Trading Address	30 PLACE D ITALIE 75013 PARIS 13	Department	Paris (75)
Location Surface	-	District	1
City	PARIS 13	Status	Economically active
Business Pages FT®	FABRICATION D'APPAREILS D'ELECTRICITE, D'ELECTRONIQUE MEDICALE ET DE RADIOLOGIE	Region	Ile-de-France
		Area	-
		Size of Urban Area	Paris conglomeration

Other Establishment(s)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 80 to 99% of workforce
Branches	5 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
ECHOSENS	Head Office	4646Z	Wholesale trade (business-to-business) of pharmaceutical products	PARIS 13	75013
ECHOSENS	Branch	4646Z	Wholesale trade (business-to-business) of pharmaceutical products	ANGERS	49100
ECHOSENS	Branch	4646Z	Wholesale trade (business-to-business) of pharmaceutical products	PARIS 5	75005
ECHOSENS	Branch	4646Z	Wholesale trade (business-to-business) of pharmaceutical products	PARIS 13	75013
ECHOSENS	Branch	4646Z	Wholesale trade (business-to-business) of pharmaceutical products	PARIS 2	75002

View Details

Workforces

Workforce at address	50 to 99 employees	Company workforce	100 to 199 employees
		Workforce account	50 to 99 employees
		31/12/2016

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 company has 16 directors

The increase of tangible fixed assets over the last two accounting periods is 11 %

The ratio total assets to total liabilities is 5.42

The creditor days are 42.98

The total assets are 89,378,699 €

The shareholder's equity is 72,073,092 €

The net current assets are 75,239,912 €

The net turnover is 47,479,623 €

The pre-tax profit is 18,032,159 €

The liabilities are 16,442,069 €

The return on total assets employed is 20.18

The stock to turnover ratio is 6.61

The risk provisions are 36,356 €

The sales to current assets ratio is 0.63

High risk workforce size

Industry comparison

Activity (APE)

Wholesale trade (business-to-business) of pharmaceutical products (4646Z)

Collective procedures

No judgment information for the company

Preferential rights details and history

Summary of preferential rights

Company monitored since	30/05/2008
Status of Monitoring	No social security and tax office preferential right to date

Preferential rights details and history

Summary of preferential rights

Company monitored since	30/05/2008
Status of Monitoring	No social security and tax office preferential right to date

Group Data

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company.

Director(s)

Name	WANG GUANYI
Manager position	Administrator	Date of birth	23/02/1970
Place of birth	NEI MONGOL(CHINE)
Type	Individual	Name at birth
				View Details
Name	M. LENOIR CLAUDE JEAN PIERRE
Manager position	Managing director, Administrator	Date of birth	26/10/1951
Place of birth	PARIS
Type	Individual	Name at birth
				View Details

Name	M. GALVEZ JEAN-GÉRARD
Manager position	Administrator	Date of birth	21/01/1954
Place of birth	RABAT(MAROC)
Type	Individual	Name at birth
				View Details
Name	Mme. DEPONGE EMMANUELLE SYLVIE
Manager position	Administrator	Date of birth	17/05/1966
Place of birth	FONTAINEBLEAU
Type	Individual	Name at birth
				View Details

Name	Mme. MEZZAROBBA MICHÈLE
Manager position	Administrator	Date of birth	25/09/1967
Place of birth	SACILE(ITALIE)
Type	Individual	Name at birth
				View Details
Name	XIN LIN
Manager position	Administrator	Date of birth	28/10/1975
Place of birth	BEIJING(CHINE)
Type	Individual	Name at birth
				View Details

Name	M. SANDRIN LAURENT, OLIVIER
Manager position	Chairman of the Board, Administrator	Date of birth	21/03/1973
Place of birth	MASSY
Type	Individual	Name at birth
				View Details
Name	M. LEWINER JACQUES
Manager position	Administrator	Date of birth	09/08/1943
Place of birth	VIC-SUR-CÈRE
Type	Individual	Name at birth
				View Details

Name	LU HONGBO
Manager position	Administrator	Date of birth	04/01/1971
Place of birth	QUZHOU(CHINE)
Type	Individual	Name at birth
				View Details
Name	M. DESCAZEAUX HERVÉ, STÉPHANE
Manager position	Administrator	Date of birth	10/05/1967
Place of birth	VERSAILLES
Type	Individual	Name at birth
				View Details

Statutory Auditor

Name	BDO FRANCE - LÉGER ET ASSOCIÉS
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth
Name	DYNA2
Name of representative
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Name	ERNST & YOUNG AUDIT
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth
Name	AUDITEX
Name of representative
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M. WANG GUANYI	23/02/1970 - BEJING(CHINE)	View Details
President	M. WANG GUANYI	23/02/1970 - BEJING(CHINE)	View Details
President	M. WANG GUANYI	23/02/1970 - NEI MONGOL(CHINE)	View Details
Chairman of the Board	M. SANDRIN LAURENT OLIVIER	21/03/1973 - MASSY (91300)	View Details
Chairman of the Board	M. SANDRIN LAURENT, OLIVIER	21/03/1973 - MASSY (91300)	View Details
Chairman of the Board	M. WANG GUANYI	23/02/1970 - NEI MONGOL(CHINE)	View Details
Chief Executive Officer	M. FOURQUET PHILIPPE	06/03/1967 - PARIS	View Details
Managing director	M. GUILLAUME RICHARD	26/09/1955 - LA ROCHELLE (17000)	View Details
Managing director	M. GUILLAUME RICHARD	26/09/1955 - LA ROCHELLE (17000)	View Details
Managing director	M. LENOIR CLAUDE JEAN PIERRE	26/10/1951 - PARIS (75016)	View Details
Delegated managing director	M. DAVID JEAN-MARC	08/05/1956 - MEKNES(MAROC)	View Details
Delegated managing director	M. DAVID JEAN-MARC	08/05/1956 - MEKNES(MAROC)	View Details
Delegated managing director	M. OLIVIER RÉGIS	27/12/1965 - DUNKERQUE (59140)	View Details
Delegated managing director	M. OLIVIER RÉGIS	27/12/1965 - DUNKERQUE (59140)	View Details
Delegated managing director	M. SANDRIN LAURENT OLIVIER	21/03/1973 - MASSY (91300)	View Details
Delegated managing director	M. SANDRIN LAURENT OLIVIER	21/03/1973 - MASSY (91300)	View Details
Administrator	CAP DECISIF SAS	07/06/1963 - SURESNES	View Details
Administrator	CATHAY CAPITAL PRIVATE EQUITY	-	View Details
Administrator	Mme. DEPONGE EMMANUELLE SYLVIE	17/05/1966 - FONTAINEBLEAU (77300)	View Details
Administrator	M. DESCAZEAUX HERVÉ, STÉPHANE	10/05/1967 - VERSAILLES (78000)	View Details
Administrator	M. DURAND RUEL FRANCOIS	04/01/1958 - SAINT GERMAIN EN LAYE	View Details
Administrator	M. GALVEZ JEAN-GÉRARD	21/01/1954 - RABAT(MAROC)	View Details
Administrator	M. LENOIR CLAUDE JEAN PIERRE	26/10/1951 - PARIS (75016)	View Details
Administrator	M. LEWINER JACQUES	09/08/1943 - VIC-SUR-CÈRE (15800)	View Details
Administrator	LU HONGBO	04/01/1971 - QUZHOU(CHINE)	View Details
Administrator	Mme. MEZZAROBBA MICHÈLE	25/09/1967 - SACILE(ITALIE)	View Details
Administrator	OTC ASSET MANAGEMENT	17/05/1966 - FONTAINEBLEAU	View Details
Administrator	M. SANDRIN LAURENT OLIVIER	21/03/1973 - MASSY (91300)	View Details
Administrator	M. SANDRIN LAURENT, OLIVIER	21/03/1973 - MASSY (91300)	View Details
Administrator	M. SANDRIN LAURENT	21/03/1973 - MASSY	View Details
1 2 next

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
Hide	05/12/2017	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1356 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société anonyme. Capital : 264850 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation).
Hide	21/11/2017	JAL	Modification of the share capital
Les Echos Date de décision : 26/09/2017 La société : 438209157 - ECHOSENS, 153 AV D'ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 264 850 €
Hide	05/07/2017	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7472 - 438209157 RCS. ECHOSENS. Forme : Société anonyme. Adresse : 30 place d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2016.
Hide	19/10/2016	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 814 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société anonyme. Administration : modification du Président du conseil d'administration et Administrateur Sandrin, Laurent, Olivier, modification de l'Administrateur Wang, Guanyi, Administrateur partant : Wang, Guanyi, Administrateur partant : Cathay Capital Private Equity, nomination de l'Administrateur : Descazeaux, Hervé, Stéphane. Capital : 246499 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation), la forme juridique et l'administration.
Hide	20/09/2016	JAL	Modification of the share capital
Les Echos Date de décision : 24/06/2016 La société : 438209157 - ECHOSENS, 153 AV D'ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 246 499 €
Hide	20/09/2016	JAL	Appointment of the social representative
Les Echos Date de décision : 24/06/2016 Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, 153 AV D'ITALIE, 75013 PARIS 13 Nominé : Monsieur Guanyi WANG En la fonction de : Administrateur
Hide	30/08/2016	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 6830 - 438209157 RCS. ECHOSENS. Forme : Société par actions simplifiée. Adresse : 30 place d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2015.
Hide	12/07/2016	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1107 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Capital : 222336 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation).
Hide	07/07/2016	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2306 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Administration : modification du Président du conseil d'administration et Administrateur Sandrin, Laurent Olivier, modification de l'Administrateur Wang, Guanyi. Capital : 220573 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	05/07/2016	JAL	Modification of the share capital
Les Echos Date de décision : 11/05/2016 La société : 438209157 - ECHOSENS, ECHOSENS ANGERS, 153 AV D'ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 222 336 €
Hide	21/04/2016	JAL	Appointment of the social representative
Les Echos Date de décision : 18/02/2016 Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, ECHOSENS ANGERS, 153 AV D'ITALIE, 75013 PARIS 13 Nominé : Monsieur Laurent SANDRIN, 94240 L HAY LES ROSES En la fonction de : Président du Conseil d'Administration
Hide	21/04/2016	JAL	Resignation / Revocation of the social representative
Les Echos Date de décision : 18/02/2016 La société 438209157 - ECHOSENS, ECHOSENS ANGERS, 153 AV D'ITALIE, 75013 PARIS 13 Fait l'objet du départ de Monsieur Guanyi WANG
Hide	30/10/2015	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1012 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Capital : 220573 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation).
Hide	08/10/2015	JAL	Modification of the share capital
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 01/09/2015 La société : 438209157 - ECHOSENS, ECHOSENS ANGERS, 30 PL D ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 220 573 € Date d'effet : 01/09/2015
Hide	08/07/2015	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 11656 - 438209157 RCS. ECHOSENS. Forme : Société par actions simplifiée. Adresse : 30 place d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2014.
Hide	12/06/2015	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 798 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Administration : nomination de l'Administrateur : Cathay Capital Private Equity, nomination de l'Administrateur : Lu, Hongbo. Capital : 216413 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation) et l'administration.
Hide	26/05/2015	JAL	Modification of the share capital
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 29/04/2015 La société : 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 216 413 € Date d'effet : 29/04/2015
Hide	26/05/2015	JAL	Appointment of the social representative
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 29/04/2015 Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 Nominé : 490506045 - CATHAY CAPITAL PRIVATE EQUITY, 45 AV GEORGE V, 75008 PARIS 8 En la fonction de : Administrateur Nominé : Madame Hongbo LU, CA 94303 PALO ALTO En la fonction de : Administrateur
Hide	25/01/2015	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1812 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Administration : modification du Président Wang, Guanyi, nomination du Président du conseil d'administration et Administrateur : Wang, Guanyi, modification du Directeur général et Administrateur Lenoir, Claude Jean Pierre, nomination de l'Administrateur : Galvez, Jean-Gérard, nomination de l'Administrateur : Deponge, Emmanuelle Sylvie, nomination de l'Administrateur : Mezzarobba, Michèle, nomination de l'Administrateur : Xin, Lin, nomination de l'Administrateur : Sandrin, Laurent Olivier, nomination de l'Administrateur : Lewiner, Jacques, nomination du Commissaire aux comptes titulaire : ERNST & YOUNG AUDIT, nomination du Commissaire aux comptes suppléant : AUDITEX. Capital : 178249 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	11/12/2014	JAL	Appointment of the social representative
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 03/12/2014 Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 Nominé : Monsieur Guanyi Wang, PÉKIN En la fonction de : Président du Conseil d'Administration Nominé : Monsieur Claude LENOIR, 78110 LE VESINET En la fonction de : Administrateur Nominé : Monsieur Guanyi WANG, PÉKIN En la fonction de : Administrateur Nominé : Non renseignée Xin Lin, PARIS 02 En la fonction de : Administrateur Nominé : Monsieur Laurent SANDRIN, 94240 L HAY LES ROSES En la fonction de : Administrateur Nominé : Monsieur Jacques LEWINER, 92210 ST CLOUD En la fonction de : Administrateur Nominé : Monsieur Jean-Gerard GALVEZ, 83980 LE LAVANDOU En la fonction de : Administrateur Nominé : Non renseignée Emmanuelle DEPONGE, 75020 PARIS 20 En la fonction de : Administrateur Nominé : Non renseignée Michele MEZZAROBBA, 75002 PARIS 02 En la fonction de : Administrateur
Hide	11/12/2014	JAL	Resignation / Revocation of the social representative
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 03/12/2014 La société 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 Fait l'objet du départ de Monsieur Guanyi WANG, 86 Rue Beiyuan 602 entrée nº 3, immeuble 206, Chaoyang, PÉKIN
Hide	14/11/2014	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4466 - 438209157 RCS. ECHOSENS. Forme : Société par actions simplifiée. Adresse : 30 place d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
Hide	02/04/2014	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2203 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée. Capital : 178249 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation).
Hide	18/03/2014	JAL	Modification of the share capital
Echos (Les) / Le Publicateur Légal - La Vie Judiciaire Date de décision : 30/01/2014 La société : 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 a subi une augmentation de son capital social désormais de 178 249 € Date d'effet : 30/01/2014
Hide	19/11/2013	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7780 - 438209157 RCS. ECHOSENS. Forme : Société par actions simplifiée (à associé unique). Adresse : 30 place d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
Hide	06/11/2013	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1143 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée (à associé unique). Administration : Commissaire aux comptes titulaire partant : DBF AUDIT, nomination du Commissaire aux comptes titulaire : BDO FRANCE - Léger et associés, Commissaire aux comptes suppléant partant : Fouchet, Yves, nomination du Commissaire aux comptes suppléant : DYNA2. Capital : 177278 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	28/02/2013	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 3977 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée (à associé unique). Administration : Directeur général partant : Guillaume, Richard, nomination du Directeur général : Lenoir, Claude Jean Pierre, Directeur général délégué partant : Sandrin, Laurent Olivier, Directeur général délégué partant : David, Jean-Marc, Directeur général délégué partant : Olivier, Régis. Capital : 177278 EUR. Activité : . Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	02/02/2013	JAL	Resignation / Revocation of the social representative
Affiches parisiennes (Les) Date de décision : 28/12/2012 La société 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 Fait l'objet du départ de Monsieur Richard GUILLAUME, De Monsieur Régis OLIVIER, De Monsieur Jean-Marc DAVID, De Monsieur Laurent SANDRIN
Hide	02/02/2013	JAL	Appointment of the social representative
Affiches parisiennes (Les) Date de décision : 28/12/2012 Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, 30 PL D ITALIE, 75013 PARIS 13 Nominé : Monsieur Claude LENOIR, 78110 LE VESINET En la fonction de : Directeur général
Hide	27/08/2012	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8504 - 438209157 RCS. ECHOSENS. Forme : Société par actions simplifiée à associé unique. Adresse : 153 avenue d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
Hide	21/08/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 767 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée à associé unique. Enseigne : ECHOSENS FR. Capital : 177278 EUR. Activité : . Adresse de l’établissement principal : 30 place d'Italie, 75013 Paris. Adresse du siège social : 30 place d'Italie, 75013 Paris. Commentaires : modification survenue sur l'adresse du siège.
Hide	17/07/2012	JAL	Head Office Transfer
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 28/06/2012 Transfert du siège social de la société 438209157 -  ECHOSENS Adresse du nouveau siège : 30 PLACE D ITALIE, 75013 PARIS Ancienne localisation : 153 AV D'ITALIE, 75013 PARIS 13 Date d'effet : 28/06/2012
Hide	28/07/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1241 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société par actions simplifiée à associé unique. Administration : nomination du Président : Wang, Guanyi, Président du conseil de surveillance partant : Yon, Sylvain, Vice-Président et Membre du conseil de surveillance partant : Durand-Ruel, Francois, Membre du conseil de surveillance partant : CAP DECISIF (SAS) représentée par SNOLLAERTS, JEROME, Membre du conseil de surveillance partant : OTC ASSET MANAGEMENT représentée par DEPONGE, Emmanuelle, modification du Directeur général Guillaume, Richard, modification du Directeur général délégué Sandrin, Laurent Olivier, modification du Directeur général délégué David, Jean-Marc, modification du Directeur général délégué Olivier, Régis, modification du Commissaire aux comptes titulaire DBF AUDIT. Capital : 177278 EUR. Activité : . Adresse du siège social : 153 avenue d'Italie, 75013 Paris. Commentaires : modification survenue sur la forme juridique et l'administration.
Hide	21/07/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2033 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Capital : 177278 EUR. Activité : . Adresse du siège social : 153 avenue d'Italie, 75013 Paris. Commentaires : modification survenue sur le capital (augmentation).
Hide	30/06/2011	JAL	Appointment of the social representative
Affiches parisiennes (Les) Société faisant l'objet d'une nomination : 438209157 - ECHOSENS, 153 AV D'ITALIE, 75013 PARIS 13 Nominé : Monsieur Guanyi WANG, 602 entrée no 3, immeuble 206, 86, rue Beiyuan, Chaoyang District, PÉKIN En la fonction de : Président Nominé : Monsieur Jean-Marc DAVID, 7 Allée Bannière-de-Maupertuis, 91190 GIF SUR YVETTE En la fonction de : Directeur général Nominé : Monsieur Régis OLIVIER, 58 Avenue Franklin, 93250 VILLEMOMBLE En la fonction de : Directeur général Nominé : Monsieur Laurent SANDRIN, 17 Rue Isabeau, 94240 L HAY LES ROSES En la fonction de : Directeur général Nominé : Monsieur Richard GUILLAUME, 32 Rue George-Sand, 75016 PARIS 16 En la fonction de : Directeur général Date d'effet : 29/06/2011
Hide	31/05/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 10415 - 438209157 RCS. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 153 avenue d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
Hide	14/09/2010	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 9127 - 438209157 RCS. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 153 AV D ITALIE 75013 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
Hide	24/09/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 6213 - 438209157 RCS. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 153 avenue d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
Hide	12/12/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2208 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Administration : nomination du Président du Directoire : Guillaume, Richard, modification du Membre du Directoire Sandrin, Laurent Olivier. Capital : 162603 EUR. Adresse du siège social : 153 avenue d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	05/10/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1656 - 438 209 157 RCS Paris. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Administration : nomination du Membre du Directoire : Olivier, Régis. Capital : 162603 EUR. Adresse du siège social : 153 avenue d'Italie, 75013 Paris. Commentaires : modification survenue sur l'administration.
Hide	11/09/2008	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7733 - 438209157 RCS. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 153 avenue d'Italie 75013 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
Hide	23/07/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1966 - 438 209 157 RCS paris. ECHOSENS. Forme : Société anonyme à directoire et conseil de surveillance. Enseigne : ECHOSENS FR. Administration : modification du Président du Directoire Sandrin, Laurent Olivier, nomination du Président du conseil de surveillance : Yon, Sylvain, nomination du Membre du Directoire : David, Jean-Marc, modification du Vice-Président et Membre du conseil de surveillance Durand-Ruel, Francois, modification du Membre du conseil de surveillance CAP DECISIF (SAS) représentée par SNOLLAERTS, JEROME, Adresse : Demeurant : 104 rue d'Aguesseau 92100 Boulogne, modification du Membre du conseil de surveillance OTC ASSET MANAGEMENT représentée par DEPONGE, Emmanuelle, Adresse : 60 boulevard de Charonne 75020 Paris. Capital : 162603 EUR. Adresse de l’établissement principal : 153 avenue d'Italie, 75013 Paris. Adresse du siège social : 153 avenue d'Italie, 75013 Paris. Commentaires : modification survenue sur la forme juridique, l'adresse du siège et l'administration.
Hide	30/06/2008	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1443 - 438 209 157 RCS paris. ECHOSENS. Forme : Société anonyme. Administration : Président directeur général partant : Fourquet, Philippe Bertrand, modification du Président du conseil d'administration et Directeur général Sandrin, Laurent Olivier, nomination de l'Administrateur : OTC ASSET MANAGEMENT représentée par DEPONGE, Emmanuelle, Adresse : 60 boulevard de Charonne 75020 Paris. Capital : 162603 EUR. Adresse du siège social : 42 rue Monge, 75005 Paris. Commentaires : modification survenue sur l'administration.
Hide	14/12/2007	Bodacc C	Avis de dépôt des comptes
9950 - 438 209 157. RCS Paris ECHOSENS. Forme: Société anonyme. Adresse du siège social: 42 rue Monge 75005 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
Hide	22/09/2006	Bodacc C	Avis de dépôt des comptes
3664 - RCS Paris B 438 209 157. RC 01-B 10077. ECHOSENS. Forme: S.A. Adresse du siège social: 42, R Monge,Paris, 75005 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
Hide	27/08/2006	Bodacc B	Modifications et mutations diverses
1579 - RCS Paris B 438 209 157. RC 01-B 10077. ECHOSENS. Forme : S.A. Capital : 162 603 euros. Adresse du siège social : 42 rue Monge,, 75005 Commentaires : modification survenue sur l'administration. Administration : administrateur partant : DE JARNACE DE GARDEPEE DE SALIGNAC (Bertrand).
Hide	08/10/2005	Bodacc C	Avis de dépôt des comptes
3593 - RCS Paris B 438 209 157. RC 01-B 10077. ECHOSENS. Forme: S.A. Adresse du siège social: 42, R Monge,Paris, 75005 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
Hide	18/03/2005	Bodacc B	Modifications et mutations diverses
1504 - RCS Paris B 438 209 157. RC 01-B 10077. ECHOSENS. Forme : S.A. Capital : 162 603 euros. Nom commercial : echosens.fr. Commentaires : modification survenue sur le capital (augmentation) et l'administration. Administration : nomination d'administrateurs : DURAND-RUEL (François) CAP DECISIF S.A.S.
Hide	24/08/2004	Bodacc B	Modifications et mutations diverses
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A. Capital : 112 571 euros Nom commercial: echosens.fr. Commentaires : modification survenue sur le capital (augmentation) et l' administration. Administration : administrateur partant : SOUQUET ( Jacques). Nomination d'un administrateur : DE JARNACE DE GARDEPEE DE SALIGNAC (Bertrand). Commissaire aux comptes titulaire partant : DIZAC ( Jacques, René). Nomination d'un commissaire aux comptes titulaire : DFB AUDIT. Commissaire aux comptes suppléant partant : DE BAZELAIRE ( Edouard). Nomination d'un commissaire aux comptes suppléant : FOUCHET (Yves).
Hide	17/04/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A. Capital : 72 165 euros Nom commercial: echosens.fr. Commentaires : modification survenue sur le capital (augmentation) et l' administration. Administration : administrateur partant : HASQUENOPH ( Jean-Michel, André, Marie). Nomination d'un administrateur : SOUQUET (Jacques).
Hide	26/02/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A Nom commercial: echosens.fr. Adresse du siège social : 42 rue Monge, 75005 Paris. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l' établissement principal Etablissement principal: Adresse : 42 rue Monge, 75005 Paris.
Hide	19/09/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A Nom commercial: echosens.fr. Commentaires : modification survenue sur l'administration. Administration : administrateur partant : YON (Sylvain, Claude, Albert). Nomination d'un administrateur : SANDRIN (Laurent, Olivier).
Hide	19/09/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A. Capital : 70 000 euros Nom commercial: echosens.fr. Commentaires : modification survenue sur le capital (augmentation).
Hide	05/07/2001	Bodacc A	Création d'établissement
RCS Paris B 438209157 RC 01-B 10077 ECHOSENS. Forme : S.A. Capital : 40 000 euros Nom commercial: echosens.fr. Activité : développement, exploitation commerciale de brevets, d'invention, d' appareils et d'instruments produisant, mesurant ou utilisant des phénomènes ondulatoires. Adresse du siège social : 10 rue Vauquelin, 75005 Paris. Administration : P.-D.G. : FOURQUET ( Philippe, Bertrand). Administrateurs : HASQUENOPH (Jean-Michel, André, Marie) YON (Sylvain, Claude, Albert). Commissaire aux comptes titulaire : DIZAC (Jacques, René). Commissaire aux comptes suppléant : DE BAZELAIRE ( Edouard) Cette société se constitue Date de début d'activité: 15 juin 2001.

Company events history

Date	Description
13/02/2018	Application and court order
13/02/2018	Amendment
05/12/2017	Bodacc B: Various editing or changing
23/11/2017	Updated articles of association
23/11/2017	Capital increase
23/11/2017	Amendment
26/09/2017	Legal Gazette: Modification of the share capital
05/07/2017	Bodacc C : Deposit accounts notice
08/06/2017	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
08/06/2017	Application and court order
31/12/2016	New accounts available
19/10/2016	Bodacc B: Various editing or changing
07/10/2016	Updated articles of association
07/10/2016	New legal form – new category
07/10/2016	Changes to the Board of Directors
07/10/2016	Capital increase
07/10/2016	Amendment
30/08/2016	Bodacc C : Deposit accounts notice
12/08/2016	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
12/07/2016	Bodacc B: Various editing or changing
07/07/2016	Bodacc B: Various editing or changing
30/06/2016	Capital increase
30/06/2016	Updated articles of association
30/06/2016	Amendment
27/06/2016	New chairman (CEO, CoB)
27/06/2016	Amendment
24/06/2016	Legal Gazette: Appointment of the social representative
24/06/2016	Legal Gazette: Modification of the share capital
24/06/2016	Update of Company Legal Form
11/05/2016	Legal Gazette: Modification of the share capital
21/04/2016	Legal Gazette: Resignation / Revocation of the social representative
18/02/2016	Legal Gazette: Appointment of the social representative
31/12/2015	Update of Company Activity
31/12/2015	New accounts available
22/12/2015	Updated articles of association
22/12/2015	Amendment
30/10/2015	Bodacc B: Various editing or changing
15/10/2015	Capital increase
15/10/2015	Updated articles of association
15/10/2015	Amendment
01/09/2015	Legal Gazette: Modification of the share capital
08/07/2015	Bodacc C : Deposit accounts notice
12/06/2015	Bodacc B: Various editing or changing
06/06/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/05/2015	Minutes of general meeting of shareholders
28/05/2015	Fund deposit certificate
28/05/2015	Changes to the Board of Directors
28/05/2015	Capital increase
28/05/2015	Updated articles of association
29/04/2015	Legal Gazette: Modification of the share capital
29/04/2015	Legal Gazette: Appointment of the social representative
28/04/2015	Audit or Management Report
25/01/2015	Bodacc B: Various editing or changing
16/01/2015	Updated articles of association
16/01/2015	New auditor
16/01/2015	Changes to the Board of Directors
16/01/2015	Amendment
31/12/2014	New accounts available
11/12/2014	Legal Gazette: Resignation / Revocation of the social representative
03/12/2014	Legal Gazette: Appointment of the social representative
14/11/2014	Bodacc C : Deposit accounts notice
23/10/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/04/2014	Bodacc B: Various editing or changing
18/03/2014	Capital increase
18/03/2014	Amendment
18/03/2014	Updated articles of association
12/02/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
30/01/2014	Update of Company Workforce
30/01/2014	Other modification of Establishment
30/01/2014	Legal Gazette: Modification of the share capital
31/12/2013	New accounts available
19/11/2013	Bodacc C : Deposit accounts notice
06/11/2013	Bodacc B: Various editing or changing
21/10/2013	New auditor
21/10/2013	Amendment
28/02/2013	Bodacc B: Various editing or changing
13/02/2013	Changes to the Board of Directors
13/02/2013	Amendment
02/02/2013	Legal Gazette: Resignation / Revocation of the social representative
31/12/2012	New accounts available
28/12/2012	Legal Gazette: Appointment of the social representative
16/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
27/08/2012	Bodacc C : Deposit accounts notice
21/08/2012	Bodacc B: Various editing or changing
03/08/2012	Updated articles of association
03/08/2012	Minutes of general meeting of shareholders
03/08/2012	Amendment
03/08/2012	Registered office transferred inside jurisdiction of the Commercial Court
17/07/2012	Legal Gazette: Head Office Transfer
28/06/2012	Update of Company Head Office Identifier
28/06/2012	Transfer of Establishment
31/12/2011	New accounts available
02/09/2011	New shareholders detected
28/07/2011	Bodacc B: Various editing or changing
21/07/2011	Bodacc B: Various editing or changing
11/07/2011	Changes to the Board of Directors
11/07/2011	Updated articles of association
11/07/2011	New legal form – new category
11/07/2011	New chairman (CEO, CoB)
11/07/2011	Minutes of general meeting of shareholders
11/07/2011	Amendment
11/07/2011	Appointment/resignation of company officers
11/07/2011	Audit or Management Report
05/07/2011	Fund deposit certificate
05/07/2011	Amendment
05/07/2011	Capital increase
05/07/2011	Updated articles of association
29/06/2011	Legal Gazette: Appointment of the social representative
31/05/2011	Bodacc C : Deposit accounts notice
22/04/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
14/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
24/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
12/12/2008	New Bodacc B ads detected
12/12/2008	Bodacc B: Various editing or changing
24/11/2008	Minutes of general meeting of shareholders
24/11/2008	Appointment/resignation of company officers
24/11/2008	Appointment/resignation of company officers
24/11/2008	Amendment
24/11/2008	Private document
24/11/2008	New chairman (CEO, CoB)
05/10/2008	Bodacc B: Various editing or changing
05/10/2008	New Bodacc B ads detected
18/09/2008	Amendment
18/09/2008	Appointment/resignation of company officers
18/09/2008	Appointment/resignation of company officers
18/09/2008	Private document
18/09/2008	Minutes of general meeting of shareholders
11/09/2008	Bodacc C : Deposit accounts notice
23/07/2008	Bodacc B: Various editing or changing
23/07/2008	New Bodacc B ads detected
30/06/2008	Bodacc B: Various editing or changing
30/06/2008	New Bodacc B ads detected
30/05/2008	Collection of preferential rights activated for this company
23/05/2008	Updated articles of association
23/05/2008	Registered office transferred inside jurisdiction of the Commercial Court
23/05/2008	Registered office transferred inside jurisdiction of the Commercial Court
23/05/2008	Private document
23/05/2008	New chairman (CEO, CoB)
23/05/2008	Minutes of general meeting of shareholders
23/05/2008	Minutes of Board meeting
23/05/2008	Change to the administration of a public limited company
23/05/2008	Change to the administration of a public limited company
23/05/2008	Appointment/resignation of company officers
23/05/2008	Appointment/resignation of company officers
23/05/2008	Amendment
23/05/2008	Updated articles of association
21/03/2008	New chairman (CEO, CoB)
21/03/2008	New chairman (CEO, CoB)
21/03/2008	Minutes of Board meeting
21/03/2008	Changes to the Board of Directors
21/03/2008	Private document
21/03/2008	Appointment/resignation of company officers
21/03/2008	Appointment/resignation of company officers
21/03/2008	Amendment
21/03/2008	Amendment
21/03/2008	Changes to the Board of Directors
31/12/2007	New accounts available
31/12/2006	New accounts available
06/07/2006	Appointment/resignation of company officers
06/07/2006	Minutes of Board meeting
06/07/2006	Private document
06/07/2006	Amendment
06/07/2006	Changes to the Board of Directors
31/12/2005	New accounts available
01/08/2005	Updated articles of association
01/08/2005	Private document
01/08/2005	Minutes of general meeting of shareholders
01/08/2005	Amendment
13/05/2005	Application and court order
13/05/2005	Amendment
15/02/2005	Updated articles of association
15/02/2005	Private document
15/02/2005	Minutes of general meeting of shareholders
15/02/2005	Minutes of Board meeting
15/02/2005	Fund deposit certificate
15/02/2005	Changes to the Board of Directors
15/02/2005	Capital increase
15/02/2005	Amendment
15/02/2005	Appointment/resignation of company officers
31/12/2004	New accounts available
06/08/2004	Audit or Management Report
06/08/2004	Appointment/resignation of company officers
06/08/2004	Amendment
06/08/2004	Updated articles of association
06/08/2004	Capital increase
06/08/2004	Changes to the Board of Directors
06/08/2004	Private document
06/08/2004	New auditor
06/08/2004	Minutes of general meeting of shareholders
06/08/2004	Minutes of Board meeting
11/02/2004	Private document
11/02/2004	Minutes of Board meeting
11/02/2004	Changes to the Board of Directors
11/02/2004	Capital increase
11/02/2004	Audit or Management Report
11/02/2004	Appointment/resignation of company officers
11/02/2004	Amendment
11/02/2004	Minutes of general meeting of shareholders
30/01/2004	Private document
30/01/2004	Minutes of Board meeting
30/01/2004	Capital reduction
30/01/2004	Capital increase
30/01/2004	Amendment
30/01/2004	Updated articles of association
31/12/2003	New accounts available
04/04/2003	Capital increase
04/04/2003	Updated articles of association
04/04/2003	Registered office transferred inside jurisdiction of the Commercial Court
04/04/2003	Private document
04/04/2003	Minutes of general meeting of shareholders
04/04/2003	Appointment/resignation of company officers
04/04/2003	Changes to the Board of Directors
04/04/2003	Fund deposit certificate
12/02/2003	Amendment
12/02/2003	Updated articles of association
12/02/2003	Registered office transferred inside jurisdiction of the Commercial Court
12/02/2003	Private document
12/02/2003	Minutes of Board meeting
06/09/2002	Amendment
06/09/2002	Appointment/resignation of company officers
06/09/2002	Capital increase
06/09/2002	Updated articles of association
06/09/2002	Minutes of Board meeting
06/09/2002	Minutes of general meeting of shareholders
06/09/2002	Private document
06/09/2002	Changes to the Board of Directors
20/06/2001	Appointment/resignation of company officers
20/06/2001	Articles of association
20/06/2001	Private document
20/06/2001	Fund deposit certificate
20/06/2001	Minutes of general meeting of shareholders
20/06/2001	Company formation

Establishment events history

Date	Description
09/05/2017	Update of phone numbers
26/03/2017	Update of phone numbers
20/11/2016	Update of phone numbers
03/08/2016	Update of phone numbers
24/06/2016	Modification of Head office
11/05/2016	Modification of Head office
31/12/2015	Modification of Head office
28/06/2012	Formation of Head office (after transfer)

Financials

Synthesized Accounts

Annual Accounts

	31/12/2016	31/12/2015	31/12/2014
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	07/06/2017	10/08/2016	05/06/2015
Activity Code	4646Z	4646Z	4646Z
Employees	93	79	85

Active account

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Capital not called	0 0 K	0%	0 0 K	0%	0 0 K	374.95 0.37 K	0%	0 0 K	0%
Total fixed assets	14,113,060 14,113 K	23.1%	11,468,011 11,468 K	29.1%	8,885,534 8,886 K	3,757,284.68 3,757.28 K	275.6%	35,116 35 K	40089.8%
Intangible assets	8,972,348 8,972 K	36.3%	6,583,136 6,583 K	45.5%	4,525,469 4,525 K	1,207,312.75 1,207.31 K	643.2%	0 0 K	0%
Tangible assets	2,675,386 2,675 K	10.6%	2,419,683 2,420 K	15.9%	2,087,516 2,088 K	606,571.19 606.57 K	341.1%	10,858 11 K	24539.8%
Financial assets	2,465,327 2,465 K	0.0%	2,465,194 2,465 K	8.5%	2,272,550 2,273 K	1,959,561.59 1,959.56 K	25.8%	2,100 2 K	117296.5%
Net current assets	75,239,912 75,240 K	27.8%	58,881,859 58,882 K	156.8%	22,932,600 22,933 K	11,910,405.25 11,910.41 K	531.7%	411,108 411 K	18201.7%
Stocks	3,136,974 3,137 K	70.6%	1,838,301 1,838 K	29.2%	1,423,021 1,423 K	2,368,046.71 2,368.05 K	32.5%	41,920 42 K	7383.2%
Advanced payments	1,110,564 1,111 K	37.1%	810,002 810 K	72.5%	469,532 470 K	74,624.97 74.62 K	1388.2%	0 0 K	0%
Receivables	30,550,385 30,550 K	109.7%	14,567,303 14,567 K	7.7%	13,525,968 13,526 K	8,292,849.27 8,292.85 K	268.4%	184,672 185 K	16443.1%
Securities and cash	40,441,989 40,442 K	-2.9%	41,666,253 41,666 K	454.5%	7,514,078 7,514 K	1,172,447.95 1,172.45 K	3349.4%	60,706 61 K	66519.4%
Prepaid expenses	- -	-	- -	-	- -	1,248.90 1.25 K	-	45 0 K	-
Accounts of regularization	25,726 26 K	96.9%	13,065 13 K	0%	0 0 K	17,711.75 17.71 K	45.2%	0 0 K	0%
Total Assets	89,378,699 89,379 K	27.0%	70,362,934 70,363 K	121.1%	31,818,134 31,818 K	15,682,553.74 15,682.55 K	469.9%	507,789 508 K	17501.5%

Passive Account

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Shareholders' equity	72,073,092 72,073 K	22.9%	58,647,215 58,647 K	181.7%	20,816,408 20,816 K	5,450,633.00 5,450.63 K	1222.3%	161,880 162 K	44422.5%
Share capital	246,499 246 K	11.8%	220,573 221 K	23.7%	178,249 178 K	1,622,258.86 1,622.26 K	-84.8%	26,000 26 K	848.1%
Other capital resources	0 0 K	0%	0 0 K	0%	0 0 K	3,452.15 3.45 K	0%	0 0 K	0%
Risk Provisions	36,356 36 K	178.3%	13,065 13 K	-65.6%	37,962 38 K	1,345,632.94 1,345.63 K	-97.3%	0 0 K	0%
Liabilities	16,442,069 16,442 K	40.6%	11,697,048 11,697 K	6.8%	10,950,228 10,950 K	8,873,956.65 8,873.96 K	85.3%	270,142 270 K	5986.5%
Financial liabilities	336,742 337 K	8.9%	309,351 309 K	6.9%	289,425 289 K	1,434,421.29 1,434.42 K	-76.5%	19,446 19 K	1631.7%
Advanced payments received	226,634 227 K	30.4%	173,850 174 K	-9.1%	191,201 191 K	216,760.43 216.76 K	4.6%	0 0 K	0%
Trade account payables	5,591,111 5,591 K	-1.7%	5,689,307 5,689 K	26.6%	4,493,668 4,494 K	3,917,886.68 3,917.89 K	42.7%	95,227 95 K	5771.4%
Tax and social liabilities	7,858,151 7,858 K	200.1%	2,618,947 2,619 K	-23.8%	3,438,137 3,438 K	2,271,105.35 2,271.11 K	246.0%	70,727 71 K	11010.5%
Other debts and fixed assets liabilities	827,182 827 K	648.6%	110,500 111 K	716.3%	13,536 14 K	1,334,103.04 1,334.10 K	-38.0%	6,000 6 K	13686.4%
Account regularization	2,429,431 2,429 K	-13.3%	2,800,700 2,801 K	10.4%	2,537,797 2,538 K	140,330.62 140.33 K	1631.2%	0 0 K	0%
Total liabilities	89,378,699 89,379 K	27.0%	70,362,934 70,363 K	121.1%	31,818,134 31,818 K	15,683,999.27 15,684.00 K	469.9%	507,789 508 K	17501.5%

Results

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Sales of Goods	48,902,094 48,902 K	44.1%	33,929,222 33,929 K	16.0%	29,259,165 29,259 K	32,640,621.76 32,640.62 K	49.8%	754,904 755 K	6377.9%
Net turnover	47,479,623 47,480 K	46.4%	32,427,639 32,428 K	15.6%	28,061,760 28,062 K	31,542,104.53 31,542.10 K	50.5%	731,338 731 K	6392.2%
of which net export turnover	42,632,326 42,632 K	37.5%	31,015,445 31,015 K	14.7%	27,048,992 27,049 K	3,341,750.41 3,341.75 K	1175.7%	0 0 K	0%
Operating charges	30,050,314 30,050 K	30.1%	23,090,749 23,091 K	20.7%	19,124,937 19,125 K	31,211,186.86 31,211.19 K	-3.7%	728,001 728 K	4027.8%
Operating profit/loss	18,851,780 18,852 K	73.9%	10,838,473 10,838 K	6.9%	10,134,228 10,134 K	1,429,434.84 1,429.43 K	1218.8%	25,738 26 K	73144.9%
Financial income	598,390 598 K	35.0%	443,274 443 K	165.8%	166,775 167 K	301,384.26 301.38 K	98.5%	81 0 K	738653.1%
Financial charges	450,756 451 K	57.7%	285,824 286 K	574.8%	42,356 42 K	220,098.51 220.10 K	104.8%	830 1 K	54208.0%
Financial profit/loss	147,633 148 K	-6.2%	157,450 157 K	26.5%	124,418 124 K	81,285.76 81.29 K	81.6%	-51 0 K	289576.5%
Pretax net operating income	18,999,413 18,999 K	72.8%	10,995,923 10,996 K	7.2%	10,258,647 10,259 K	1,511,452.04 1,511.45 K	1157.0%	24,727 25 K	76736.7%
Extraordinary income	116 0 K	-99.7%	40,392 40 K	-76.8%	174,092 174 K	791,484.10 791.48 K	-100.0%	0 0 K	0%
Extraordinary charges	165,196 165 K	-85.3%	1,120,916 1,121 K	264.7%	307,345 307 K	763,659.92 763.66 K	-78.4%	277 0 K	59537.5%
Extraordinary profit/loss	-165,080 -165 K	84.7%	-1,080,524 -1,081 K	-710.9%	-133,254 -133 K	27,824.16 27.82 K	-693.3%	0 0 K	0%
Net result	12,831,813 12,832 K	74.5%	7,353,883 7,354 K	-2.4%	7,536,716 7,537 K	949,390.30 949.39 K	1251.6%	21,437 21 K	59758.2%

Accounts - Active

Normal Account

	31/12/2016	31/12/2015	31/12/2014
Months	12	12	12

Grand Total - Active Accounts (I to VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Grand Total (I to VI)	Net	89,378,699 89,379 K	27.0%	70,362,934 70,363 K	121.1%	31,818,134 31,818 K
Gross	CO	96,620,339 96,620 K	27.9%	75,554,743 75,555 K	108.9%	36,169,755 36,170 K
Amortisation	1A	7,241,640 7,242 K	39.5%	5,191,809 5,192 K	19.3%	4,351,622 4,352 K

Non declared distributed capital (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Non declared distributed capital (I)	AA3	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AA	0 0 K	0%	0 0 K	0%	0 0 K

Active fixed asset (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Active fixed asset (II)	Net	14,113,060 14,113 K	23.1%	11,468,011 11,468 K	29.1%	8,885,534 8,886 K
Gross	BJ	21,156,933 21,157 K	28.7%	16,442,661 16,443 K	26.1%	13,036,775 13,037 K
Amortisation	BK	7,043,872 7,044 K	41.6%	4,974,650 4,975 K	19.8%	4,151,241 4,151 K

Intangible fixed assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Start-up cost	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AC	0 0 K	0%	0 0 K	0%	0 0 K
R&D expenses	Net	6,487,093 6,487 K	34.9%	4,809,196 4,809 K	71.4%	2,806,297 2,806 K
Gross	CX	9,438,303 9,438 K	41.7%	6,661,815 6,662 K	51.0%	4,411,395 4,411 K
Amortisation	CQ	2,951,210 2,951 K	59.3%	1,852,619 1,853 K	15.4%	1,605,098 1,605 K
Distributorships, patents	Net	1,154,092 1,154 K	23.4%	935,368 935 K	33.9%	698,440 698 K
Gross	AF	2,157,633 2,158 K	29.8%	1,662,310 1,662 K	34.9%	1,232,345 1,232 K
Amortisation	AG	1,003,541 1,004 K	38.0%	726,942 727 K	36.2%	533,905 534 K
Goodwill	Net	0 0 K	0%	712,182 712 K	0%	712,182 712 K
Gross	AH	0 0 K	0%	712,182 712 K	0%	712,182 712 K
Amortisation	AI	0 0 K	0%	0 0 K	0%	0 0 K
Other intangible fixed assets	Net	1,331,163 1,331 K	953.2%	126,390 126 K	-59.0%	308,550 309 K
Gross	AJ	1,340,283 1,340 K	893.9%	134,845 135 K	-57.1%	314,350 314 K
Amortisation	AK	9,120 9 K	7.9%	8,455 8 K	45.8%	5,800 6 K
Pre-payments and downpayments	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AL	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AM	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Intangible asset	Net	8,972,348 8,972 K	36.3%	6,583,136 6,583 K	45.5%	4,525,469 4,525 K

Tangible fixed assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Lands	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AN	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AO	0 0 K	0%	0 0 K	0%	0 0 K
Buildings	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AP	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AQ	0 0 K	0%	0 0 K	0%	0 0 K
Plant	Net	1,673,281 1,673 K	19.8%	1,397,311 1,397 K	5.9%	1,319,869 1,320 K
Gross	AR	3,898,626 3,899 K	22.3%	3,187,636 3,188 K	11.9%	2,849,582 2,850 K
Amortisation	AS	2,225,344 2,225 K	24.3%	1,790,325 1,790 K	17.0%	1,529,713 1,530 K
Other tangible fixed assets	Net	880,549 881 K	-0.7%	886,967 887 K	16.6%	760,647 761 K
Gross	AT	1,735,205 1,735 K	17.0%	1,483,276 1,483 K	19.9%	1,237,372 1,237 K
Amortisation	AU	854,656 855 K	43.3%	596,309 596 K	25.1%	476,725 477 K
Fixed assets in construction	Net	121,556 122 K	-10.2%	135,405 135 K	1834.4%	7,000 7 K
Gross	AV	121,556 122 K	-10.2%	135,405 135 K	1834.4%	7,000 7 K
Amortisation	AW	0 0 K	0%	0 0 K	0%	0 0 K
Advances and payments on account	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AX	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AY	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Tangible asset	Net	2,675,386 2,675 K	10.6%	2,419,683 2,420 K	15.9%	2,087,516 2,088 K

Financial assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Associates at equity	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CS	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CT	0 0 K	0%	0 0 K	0%	0 0 K
Other participations	Net	2,433,714 2,434 K	0%	2,433,714 2,434 K	8.0%	2,252,570 2,253 K
Gross	CU	2,433,714 2,434 K	0%	2,433,714 2,434 K	8.0%	2,252,570 2,253 K
Amortisation	CV	0 0 K	0%	0 0 K	0%	0 0 K
Inter-company receivables	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BC	0 0 K	0%	0 0 K	0%	0 0 K
Other investment securities	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BD	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BE	0 0 K	0%	0 0 K	0%	0 0 K
Loans	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BF	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BG	0 0 K	0%	0 0 K	0%	0 0 K
Other financial assets	Net	31,613 32 K	0.4%	31,480 31 K	57.6%	19,980 20 K
Gross	BH	31,613 32 K	0.4%	31,480 31 K	57.6%	19,980 20 K
Amortisation	BI	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Financial assets	Net	2,465,327 2,465 K	0.0%	2,465,194 2,465 K	8.5%	2,272,550 2,273 K

Current Assets (III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Current Assets	Net	75,239,912 75,240 K	27.8%	58,881,859 58,882 K	156.8%	22,932,600 22,933 K
Gross	CJ	75,437,680 75,438 K	27.6%	59,099,018 59,099 K	155.5%	23,132,981 23,133 K
Amortisation	CK	197,768 198 K	-8.9%	217,159 217 K	8.4%	200,381 200 K

Stocks

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Raw materials	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BL	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BM	0 0 K	0%	0 0 K	0%	0 0 K
Work in progress (goods)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BN	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BO	0 0 K	0%	0 0 K	0%	0 0 K
Work in progress (services)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BP	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BQ	0 0 K	0%	0 0 K	0%	0 0 K
Semi-finished and finished products	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BR	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BS	0 0 K	0%	0 0 K	0%	0 0 K
Goods for resale	Net	3,136,974 3,137 K	70.6%	1,838,301 1,838 K	29.2%	1,423,021 1,423 K
Gross	BT	3,149,273 3,149 K	69.9%	1,853,635 1,854 K	30.3%	1,423,021 1,423 K
Amortisation	BU	12,298 12 K	-19.8%	15,334 15 K	0%	0 0 K
Sub Total Stocks	Net	3,136,974 3,137 K	70.6%	1,838,301 1,838 K	29.2%	1,423,021 1,423 K

Advance payments to suppliers

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Advance payments to suppliers	Net	1,110,564 1,111 K	37.1%	810,002 810 K	72.5%	469,532 470 K
Gross	BV	1,110,564 1,111 K	37.1%	810,002 810 K	72.5%	469,532 470 K
Amortisation	BW	0 0 K	0%	0 0 K	0%	0 0 K

Debtors

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Trade accounts receivable	Net	24,811,131 24,811 K	154.7%	9,743,151 9,743 K	-10.8%	10,924,226 10,924 K
Gross	BX	24,978,350 24,978 K	151.6%	9,926,727 9,927 K	-10.6%	11,105,610 11,106 K
Amortisation	BY	167,219 167 K	-8.9%	183,575 184 K	1.2%	181,384 181 K
Other debtors	Net	5,250,854 5,251 K	19.7%	4,386,603 4,387 K	92.7%	2,276,722 2,277 K
Gross	BZ	5,269,104 5,269 K	19.6%	4,404,853 4,405 K	91.9%	2,294,972 2,295 K
Amortisation	CA	18,250 18 K	0%	18,250 18 K	0%	18,250 18 K
Capital subscribed and called up	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CC	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total debtors	Net	30,061,985 30,062 K	112.8%	14,129,754 14,130 K	7.0%	13,200,948 13,201 K

Divers

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Investment securities	Net	16,215 16 K	49.0%	10,879 11 K	-80.1%	54,601 55 K
Gross	CD	16,215 16 K	49.0%	10,879 11 K	-80.3%	55,348 55 K
Amortisation	CE	0 0 K	0%	0 0 K	0%	747 1 K
Cash and cash equivalents	Net	40,425,774 40,426 K	-3.0%	41,655,374 41,655 K	458.4%	7,459,477 7,459 K
Gross	CF	40,425,774 40,426 K	-3.0%	41,655,374 41,655 K	458.4%	7,459,477 7,459 K
Amortisation	CG	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Divers	Net	40,441,989 40,442 K	-2.9%	41,666,253 41,666 K	454.5%	7,514,078 7,514 K

Prepaid expenses

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Prepaid expenses	Net	488,400 488 K	11.6%	437,549 438 K	34.6%	325,020 325 K
Gross	CH	488,400 488 K	11.6%	437,549 438 K	34.6%	325,020 325 K
Amortisation	CI	0 0 K	0%	0 0 K	0%	0 0 K

Equalization accounts (IV to VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Expenses of loan issue to be spread	CW3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Premiums on redemption of bonds	CM3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Currency differential gain	CN3	25,726 26 K	96.9%	13,065 13 K	0%	0 0 K
Gross		25,726 26 K	96.9%	13,065 13 K	0%	0 0 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Due within one year	CP	0 0 K	0%	0 0 K	0%	0 0 K
Due after one year	CR	0 0 K	0%	0 0 K	0%	0 0 K

Accounts - Passive

Grand Total - Passive Accounts (I to V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Grand Total (I to V)	EE	89,378,699 89,379 K	27.0%	70,362,934 70,363 K	121.1%	31,818,134 31,818 K

Shareholder Equity (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total shareholders' equity (Total I)	DL	72,073,092 72,073 K	22.9%	58,647,215 58,647 K	181.7%	20,816,408 20,816 K
Equity and shareholders' equity	DA	246,499 246 K	11.8%	220,573 221 K	23.7%	178,249 178 K
Issue and merger premiums	DB	33,519,036 33,519 K	1.7%	32,950,898 32,951 K	1209.5%	2,516,299 2,516 K
Revaluation differentials	DC	0 0 K	0%	0 0 K	0%	0 0 K
Of which equity differential	EK	0 0 K	0%	0 0 K	0%	0 0 K
Legal reserve	DD	30,000 30 K	69.2%	17,728 18 K	0%	17,728 18 K
Statutory or contractual reserve	DE	0 0 K	0%	0 0 K	0%	0 0 K
Special regulated reserves	DF	0 0 K	0%	0 0 K	0%	0 0 K
Of which special reserve of provisions for current fluctuation	B1	0 0 K	0%	0 0 K	0%	0 0 K
Other reserves	DG	0 0 K	0%	0 0 K	0%	0 0 K
Of which reserve for buying originals works from alive artists	EJ	0 0 K	0%	0 0 K	0%	0 0 K
Profits or losses brought forward	DH	25,443,986 25,444 K	40.6%	18,102,375 18,102 K	71.3%	10,565,659 10,566 K
Profit or loss for the period	DI	12,831,813 12,832 K	74.5%	7,353,883 7,354 K	-2.4%	7,536,716 7,537 K
Investment grants	DJ	1,758 2 K	0%	1,758 2 K	0%	1,758 2 K
Special tax-allowable reserves	DK	0 0 K	0%	0 0 K	0%	0 0 K

Other capital resources (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total other capital resources (Total II)	DO	0 0 K	0%	0 0 K	0%	0 0 K
Income from participating securities	DM	0 0 K	0%	0 0 K	0%	0 0 K
Conditional loans	DN	0 0 K	0%	0 0 K	0%	0 0 K

Provisions for risks and charges (III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total provisions for risks and charges (Total III)	DR	36,356 36 K	178.3%	13,065 13 K	-65.6%	37,962 38 K
Risk provisions	DP	36,356 36 K	178.3%	13,065 13 K	-65.6%	37,962 38 K
Reserves for charges	DQ	0 0 K	0%	0 0 K	0%	0 0 K

Liabilities (IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Liabilities (Total IV)	EC	16,442,069 16,442 K	40.6%	11,697,048 11,697 K	6.8%	10,950,228 10,950 K
Convertible debentures	DS	0 0 K	0%	25,606 26 K	0%	0 0 K
Other debentures	DT	0 0 K	0%	0 0 K	0%	0 0 K
Bank loans and liabilities	DU	0 0 K	0%	0 0 K	0%	69,120 69 K
Sundry loans and financial liabilities	DV	336,742 337 K	18.7%	283,745 284 K	28.8%	220,305 220 K
Of which participating loans	EI	0 0 K	0%	0 0 K	0%	0 0 K
Advance payments received for current orders	DW	226,634 227 K	30.4%	173,850 174 K	-9.1%	191,201 191 K
Trade accounts payables	DX	5,591,111 5,591 K	-1.7%	5,689,307 5,689 K	26.6%	4,493,668 4,494 K
Tax and social security liabilities	DY	7,858,151 7,858 K	200.1%	2,618,947 2,619 K	-23.8%	3,438,137 3,438 K
Fixed asset liabilities	DZ	0 0 K	0%	0 0 K	0%	0 0 K
Other debts	EA	0 0 K	0%	104,893 105 K	0%	0 0 K

Translation loss (V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Translation loss (Total V)	ED	827,182 827 K	14652.7%	5,607 6 K	-58.6%	13,536 14 K

Equalization accounts

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Deferred income	EB	2,429,431 2,429 K	-13.3%	2,800,700 2,801 K	10.4%	2,537,797 2,538 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Of which tax-allowable reserve	EF	0 0 K	0%	0 0 K	0%	0 0 K
Deferred income and liabilities	EG	0 0 K	0%	0 0 K	0%	0 0 K
Of which current bank facilities	EH	0 0 K	0%	0 0 K	0%	0 0 K

Result account

1 - Operating result (I-II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating result (Total I-II)	GG	18,851,780 18,852 K	73.9%	10,838,473 10,838 K	6.9%	10,134,228 10,134 K

2 - Financial result (V-VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Financial result (Total V-VI)	GV	147,633 148 K	-6.2%	157,450 157 K	26.5%	124,418 124 K

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	18,999,413 18,999 K	72.8%	10,995,923 10,996 K	7.2%	10,258,647 10,259 K

4 - Extraordinary result (VII-VIII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Extraordinary result (Total VII-VIII)	HI	-165,080 -165 K	84.7%	-1,080,524 -1,081 K	-710.9%	-133,254 -133 K

Profit or loss

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Profit or loss	HN	12,831,813 12,832 K	74.5%	7,353,883 7,354 K	-2.4%	7,536,716 7,537 K

Total Income (I+III+V+VII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Income (Total I+III+V+VII)	HL	49,500,600 49,501 K	43.8%	34,412,888 34,413 K	16.3%	29,600,031 29,600 K

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Charges (Total II+IV+VI+VIII+IX+X)	HM	36,668,787 36,669 K	35.5%	27,059,005 27,059 K	22.6%	22,063,316 22,063 K

Operating income (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total operating income (Total I)	FR	48,902,094 48,902 K	44.1%	33,929,222 33,929 K	16.0%	29,259,165 29,259 K

Operating income (details)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Sale of goods for resale	FC	25,759,103 25,759 K	-0.8%	25,965,947 25,966 K	9.6%	23,684,811 23,685 K
France	FA	2,235,496 2,235 K	335.8%	512,930 513 K	104.3%	251,065 251 K
Export	FB	23,523,607 23,524 K	-7.6%	25,453,017 25,453 K	8.6%	23,433,747 23,434 K
Sale of goods produced	FF	10,570,419 10,570 K	0%	0 0 K	0%	0 0 K
France	FD	1,665,952 1,666 K	0%	0 0 K	0%	0 0 K
Export	FE	8,904,467 8,904 K	0%	0 0 K	0%	0 0 K
Sale of services	FI	11,150,101 11,150 K	72.6%	6,461,692 6,462 K	47.6%	4,376,949 4,377 K
France	FG	945,849 946 K	5.2%	899,264 899 K	18.1%	761,704 762 K
Export	FH	10,204,252 10,204 K	83.4%	5,562,428 5,562 K	53.9%	3,615,246 3,615 K
Net turnover	FL	47,479,623 47,480 K	46.4%	32,427,639 32,428 K	15.6%	28,061,760 28,062 K
France	FJ	4,847,297 4,847 K	243.2%	1,412,194 1,412 K	39.4%	1,012,768 1,013 K
Export	FK	42,632,326 42,632 K	37.5%	31,015,445 31,015 K	14.7%	27,048,992 27,049 K
Stocked production	FM	0 0 K	0%	0 0 K	0%	0 0 K
Self-constructed assets	FN	1,019,813 1,020 K	-16.8%	1,225,883 1,226 K	49.4%	820,685 821 K
Operating grants	FO	0 0 K	0%	-2,998 -3 K	0%	0 0 K
Release of reserves and provisions	FP	153,492 153 K	387.3%	31,500 32 K	-88.5%	273,043 273 K
Other income	FQ	249,167 249 K	0.8%	247,198 247 K	138.4%	103,676 104 K

Operating charges (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total operating charges (Total II)	GF	30,050,314 30,050 K	30.1%	23,090,749 23,091 K	20.7%	19,124,937 19,125 K

Exploitation charges

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Purchase of goods for resale	FS	3,678,268 3,678 K	-34.6%	5,623,677 5,624 K	8.3%	5,191,524 5,192 K
Change in stocks of goods for resale	FT	-1,295,638 -1,296 K	-200.9%	-430,614 -431 K	-28.3%	-335,546 -336 K
Purchase of raw materials	FU	3,581,140 3,581 K	980.0%	331,590 332 K	0%	0 0 K
Change in stocks of raw materials	FV	0 0 K	0%	0 0 K	0%	0 0 K
Other external purchases and charges	FW	11,715,955 11,716 K	35.6%	8,640,956 8,641 K	33.3%	6,483,570 6,484 K
Tax, duty and similar payments	FX	728,092 728 K	30.4%	558,148 558 K	17.8%	473,997 474 K
Payroll	FY	5,420,430 5,420 K	25.0%	4,335,813 4,336 K	23.9%	3,500,495 3,500 K
Social security costs	FZ	2,832,786 2,833 K	33.8%	2,117,651 2,118 K	4.2%	2,032,725 2,033 K

Depreciation

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Depreciation of fixed assets	GA	2,210,883 2,211 K	100.6%	1,102,161 1,102 K	29.2%	853,009 853 K
Amortisation of fixed assets	GB	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation/amortisation of current assets	GC	98,498 98 K	462.0%	17,526 18 K	-90.7%	188,753 189 K
Provisions for risks and charges	GD	10,630 11 K	-21.5%	13,538 14 K	-62.4%	36,002 36 K

Other charges

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Other charges	GE	1,069,270 1,069 K	37.0%	780,302 780 K	11.4%	700,408 700 K

Operating charges (III-IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Share of joint-venture transferred to other partner(s) (Total III)	GH	0 0 K	0%	0 0 K	0%	0 0 K
Share of joint venture transferred from other partner(s) (Total IV)	GI	0 0 K	0%	0 0 K	0%	0 0 K

Financial income (V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total financial income (Total V)	GP	598,390 598 K	35.0%	443,274 443 K	165.8%	166,775 167 K
Share financial income	GJ	0 0 K	0%	0 0 K	0%	0 0 K
Other investment income & capitalised receivables	GK	0 0 K	0%	0 0 K	0%	0 0 K
Other interest and similar income	GL	180,033 180 K	222.0%	55,905 56 K	13.4%	49,309 49 K
Released provisions and transferred charges	GM	13,065 13 K	0%	0 0 K	0%	0 0 K
Exchange gains	GN	405,292 405 K	4.6%	387,369 387 K	229.8%	117,466 117 K
Net income from disposal of investment securities	GO	0 0 K	0%	0 0 K	0%	0 0 K

Financial charge (VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total financial charge (Total VI)	GU	450,756 451 K	57.7%	285,824 286 K	574.8%	42,356 42 K
Financial reserves and provisions	GQ	25,726 26 K	108.8%	12,318 12 K	0%	0 0 K
Interest and similar charges	GR	1,486 1 K	263.3%	409 0 K	-93.0%	5,833 6 K
Exchange losses	GS	423,544 424 K	55.1%	273,097 273 K	647.7%	36,523 37 K
Net loss from disposal of investment securities	GT	0 0 K	0%	0 0 K	0%	0 0 K

Extraordinary income (VII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total extraordinary income (Total VII)	HD	116 0 K	-99.7%	40,392 40 K	-76.8%	174,092 174 K
Extraordinary operating income	HA	16 0 K	0%	0 0 K	0%	80,729 81 K
Extraordinary income from capital transactions	HB	100 0 K	-99.5%	20,392 20 K	0%	0 0 K
Released provisions and transferred charges	HC	0 0 K	0%	20,000 20 K	-78.6%	93,363 93 K

Extraordinary charges (VIII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total extraordinary charges (Total VIII)	HH	165,196 165 K	-85.3%	1,120,916 1,121 K	264.7%	307,345 307 K
Extraordinary operating charges	HE	49,955 50 K	-37.9%	80,492 80 K	-62.0%	211,986 212 K
Extraordinary charges from capital transactions	HF	115,241 115 K	-88.9%	1,040,424 1,040 K	991.0%	95,360 95 K
Extraordinary reserves and provisions	HG	0 0 K	0%	0 0 K	0%	0 0 K

Employee profit sharing (IX)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Employee profit sharing (Total IX)	HJ	802,174 802 K	93.3%	414,886 415 K	0%	0 0 K

Tax on profits (X)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Tax on profits (Total X)	HK	5,200,346 5,200 K	142.3%	2,146,630 2,147 K	-17.1%	2,588,678 2,589 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Of which equipment leases	HP	0 0 K	0%	0 0 K	0%	0 0 K
Of which property leases	HQ	0 0 K	0%	0 0 K	0%	0 0 K
Of which transferred charges	A1	0 0 K	0%	0 0 K	0%	0 0 K
Of which trader's own contributions	A2	0 0 K	0%	0 0 K	0%	0 0 K
Of which royalties on licences and patents (income)	A3	0 0 K	0%	0 0 K	0%	0 0 K
Of which royalties on licences and patents (charges)	A4	0 0 K	0%	0 0 K	0%	0 0 K

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	OG	0 0 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	OH	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess, acquisitions, creations, contributions	OJ	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	OK1	0 0 K	0%	94,129 94 K	0%	0 0 K
Decreasess by transfers	OK2	1,227,543 1,228 K	-25.9%	1,655,619 1,656 K	0%	0 0 K
Gross value at the end of period	OL	21,156,933 21,157 K	28.7%	16,442,661 16,443 K	0%	0 0 K

Research and development Charge (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	CZ	6,661,815 6,662 K	51.0%	4,411,395 4,411 K	0%	0 0 K
Increasess due to revaluation	KB	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KC	2,776,488 2,776 K	-8.9%	3,048,100 3,048 K	0%	0 0 K
Decreasess by budget item transfer	CO1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	CO2	0 0 K	0%	797,680 798 K	0%	0 0 K
Gross value at the end of period	DO	9,438,303 9,438 K	41.7%	6,661,815 6,662 K	0%	0 0 K

Other budget item from Intangible fixed assets (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	KD	2,509,336 2,509 K	11.1%	2,258,876 2,259 K	0%	0 0 K
Increasess due to revaluation	KE	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KF	1,826,487 1,826 K	227.7%	557,338 557 K	0%	0 0 K
Decreasess by budget item transfer	LV1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	LV2	837,907 838 K	173.0%	306,878 307 K	0%	0 0 K
Gross value at the end of period	LW	3,497,916 3,498 K	39.4%	2,509,336 2,509 K	0%	0 0 K

Tangible fixed assets (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	LN	4,806,317 4,806 K	17.4%	4,093,954 4,094 K	0%	0 0 K
Increasess due to revaluation	LO	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LP	1,338,707 1,339 K	-1.4%	1,357,552 1,358 K	0%	0 0 K
Decreasess by budget item transfer	NG1	0 0 K	0%	94,129 94 K	0%	0 0 K
Decreasess by transfers	NG2	389,636 390 K	-29.3%	551,062 551 K	0%	0 0 K
Gross value at the end of period	NH	5,755,388 5,755 K	19.7%	4,806,315 4,806 K	0%	0 0 K

Financial assets (Total IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	LQ	2,465,194 2,465 K	8.5%	2,272,550 2,273 K	0%	0 0 K
Increasess due to revaluation	LR	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LS	133 0 K	-99.9%	192,644 193 K	0%	0 0 K
Decreasess by budget item transfer	NJ1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	NJ2	0 0 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	NK	2,465,327 2,465 K	0.0%	2,465,194 2,465 K	0%	0 0 K

Reserve for depreciation

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	ON	0 0 K	0%	0 0 K	0%	0 0 K
Increases	OP	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess	OQ	0 0 K	0%	0 0 K	0%	0 0 K
Reserve for depreciation value at the end of period	OR	0 0 K	0%	0 0 K	0%	0 0 K

Research and development charge (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	CY	0 0 K	0%	0 0 K	0%	0 0 K
Increases	PB	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess	PC	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	PD	0 0 K	0%	0 0 K	0%	0 0 K

Other intangible assets (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	PE	735,397 735 K	36.3%	539,705 540 K	34.5%	401,343 401 K
Increases	PF	277,264 277 K	33.1%	208,375 208 K	42.3%	146,388 146 K
Decreasess	PG	0 0 K	0%	12,683 13 K	58.0%	8,026 8 K
Decreasess by budget item transfer	PH	1,012,661 1,013 K	37.7%	735,397 735 K	36.3%	539,705 540 K

Total fixed assets amotisation (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	QU	2,386,634 2,387 K	18.9%	2,006,438 2,006 K	19.4%	1,680,046 1,680 K
Increases	QV	835,028 835 K	27.1%	657,108 657 K	9.2%	601,588 602 K
Decreases	QW	141,661 142 K	-48.8%	276,913 277 K	0.6%	275,196 275 K
Decreasess by budget item transfer	QX	3,080,001 3,080 K	29.1%	2,386,633 2,387 K	18.9%	2,006,438 2,006 K

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	Z91	0 0 K	0%	0 0 K	0%	0 0 K
Increases	Z92	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation of fixed assets during period	Z9	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	B1	0 0 K	0%	0 0 K	0%	0 0 K

Premium refund of obligations

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Net value at begin of period	SP1	0 0 K	0%	0 0 K	0%	0 0 K
Increases	SP2	0 0 K	0%	797,680 798 K	0%	0 0 K
Depreciation of fixed assets during period	SP	9,438,303 9,438 K	41.7%	6,661,815 6,662 K	0%	0 0 K
Net value at the end of period	SR	0 0 K	0%	0 0 K	0%	0 0 K

Provisions included in balance sheet

Grand Total (I-II-III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	7C	230,224 230 K	-3.4%	238,343 238 K	-36.9%	378,017 378 K
Increases	UB	134,736 135 K	205.3%	44,128 44 K	-78.7%	206,715 207 K
Decreases	UC	130,836 131 K	150.4%	52,247 52 K	-84.9%	346,389 346 K
Value at the end of period	UD	234,124 234 K	1.7%	230,224 230 K	-3.4%	238,343 238 K

Includes Total allocations

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating	UE	134,736 135 K	0%	0 0 K	0%	206,715 207 K
Financial	UG	0 0 K	0%	44,128 44 K	0%	0 0 K
Exceptional	UJ	0 0 K	0%	0 0 K	0%	0 0 K

Includes Total Withdrawal

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating	UF	130,836 131 K	0%	0 0 K	0%	346,389 346 K
Financial	UH	0 0 K	0%	52,247 52 K	0%	0 0 K
Exceptional	UK	0 0 K	0%	0 0 K	0%	0 0 K

Total regulated provisions (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	3Z	0 0 K	0%	0 0 K	0%	0 0 K
Increases	TS	0 0 K	0%	0 0 K	0%	0 0 K
Decreases	TT	0 0 K	0%	0 0 K	0%	0 0 K
Value at the end of period	TU	0 0 K	0%	0 0 K	0%	0 0 K

Total risk and charge provisions (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	5Z	13,065 13 K	-65.6%	37,962 38 K	-73.3%	142,391 142 K
Increases	TV	36,237 36 K	36.2%	26,603 27 K	48.1%	17,962 18 K
Decreases	TW	12,946 13 K	-74.9%	51,500 52 K	-57.9%	122,391 122 K
Value at the end of period	TX	36,356 36 K	178.3%	13,065 13 K	-65.6%	37,962 38 K

Total Provision for depreciation (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	7B	217,159 217 K	8.4%	200,381 200 K	-15.0%	235,626 236 K
Increases	TY	98,498 98 K	462.0%	17,525 18 K	-90.7%	188,753 189 K
Decreases	TZ	117,890 118 K	15681.8%	747 1 K	-99.7%	223,998 224 K
Value at the end of period	UA	197,768 198 K	-8.9%	217,160 217 K	8.4%	200,381 200 K

State deadlines claims and debts at the end of period

State claims

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value	VT	30,767,467 30,767 K	107.9%	14,800,609 14,801 K	7.7%	13,745,584 13,746 K
1 year at most	VU	27,389,377 27,389 K	86.4%	14,694,716 14,695 K	7.1%	13,725,604 13,726 K
More than one year	VV	3,378,090 3,378 K	3090.1%	105,893 106 K	430.0%	19,980 20 K

State of loans

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Claims related to holdings (gross)	UL	0 0 K	0%	0 0 K	0%	0 0 K
Claims related to shareholdings (1 year at most)	UM	0 0 K	0%	0 0 K	0%	0 0 K
Loans (gross)	UP	0 0 K	0%	0 0 K	0%	0 0 K
Loans (1 year at most)	UR	0 0 K	0%	0 0 K	0%	0 0 K
Other financial assets (gross)	UT	31,613 32 K	0.4%	31,480 31 K	57.6%	19,980 20 K
Other financial assets (1 year at most)	UV	0 0 K	0%	0 0 K	0%	0 0 K

Receivables statement of assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Customers doubtful or disputed	VA	131,920 132 K	32.2%	99,773 100 K	35.5%	73,614 74 K
Other claims customer	UX	24,846,430 24,846 K	152.8%	9,826,954 9,827 K	-10.9%	11,031,996 11,032 K
Receivables represent Loaned Securities	UU	0 0 K	0%	0 0 K	0%	0 0 K
Provision for depreciation previously established	UQ	0 0 K	0%	0 0 K	0%	0 0 K
Personnel and associated accounts	UY	30,000 30 K	4.0%	28,835 29 K	-43.7%	51,241 51 K
Social Security and other social organizations	UZ	0 0 K	0%	4,689 5 K	0%	0 0 K
Income taxes	VM	1,454,722 1,455 K	10.3%	1,319,032 1,319 K	78.4%	739,388 739 K
Value added tax	VB	956,434 956 K	-26.2%	1,295,229 1,295 K	0.1%	1,294,086 1,294 K
Other taxes and payments assimilated	VN	50,640 51 K	0%	50,640 51 K	0%	0 0 K
State and other public - Miscellaneous	VP	18,250 18 K	0%	18,250 18 K	0%	18,250 18 K
Group and Associates	VC	2,753,346 2,753 K	394.6%	556,667 557 K	189.9%	192,000 192 K
Accounts receivable (including claims relating to the operation of pension titles)	VR	5,712 6 K	-99.5%	1,131,511 1,132 K	12572244.4%	9 0 K

Prepaid

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Prepaid	VS	488,400 488 K	11.6%	437,549 438 K	34.6%	325,020 325 K

State Debt

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total debt (gross)	VY	16,215,435 16,215 K	40.7%	11,523,197 11,523 K	7.1%	10,759,026 10,759 K
1 year at most	VZ2	14,461,234 14,461 K	51.6%	9,540,085 9,540 K	-9.7%	10,570,087 10,570 K
More than 1 year and 5 years at most	VZ3	1,319,498 1,319 K	-3.9%	1,372,991 1,373 K	626.7%	188,939 189 K
More than 5 years	VZ4	434,703 435 K	-28.8%	610,121 610 K	0%	0 0 K

Details

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Convertible bonds (gross)	7Y1	0 0 K	0%	25,606 26 K	0%	0 0 K
1 year at most	7Y2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Y3	0 0 K	0%	0 0 K	0%	0 0 K
Other bonds (gross)	7Z1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	7Z2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Z3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VG2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VG3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to more than 1 year at the origin (gross)	VH1	0 0 K	0%	0 0 K	0%	69,120 69 K
1 year at most	VH2	0 0 K	0%	0 0 K	0%	69,120 69 K
More than 1 year and 5 years at most	VH3	0 0 K	0%	0 0 K	0%	0 0 K
Loans and various financial liabilities (gross)	8A1	225,539 226 K	11.8%	201,739 202 K	6.8%	188,939 189 K
1 year at most	8A2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8A3	225,539 226 K	11.8%	201,739 202 K	6.8%	188,939 189 K
Suppliers and associated accounts (gross)	8B1	5,591,111 5,591 K	-1.7%	5,689,307 5,689 K	26.6%	4,493,668 4,494 K
1 year at most	8B2	5,591,111 5,591 K	-1.7%	5,689,307 5,689 K	26.6%	4,493,668 4,494 K
More than 1 year and 5 years at most	8B3	5,591,111 5,591 K	-1.7%	5,689,307 5,689 K	26.6%	4,493,668 4,494 K
Personnel and associated accounts (gross)	8C1	1,896,725 1,897 K	80.4%	1,051,223 1,051 K	62.1%	648,484 648 K
1 year at most	8C2	1,896,725 1,897 K	80.4%	1,051,223 1,051 K	62.1%	648,484 648 K
More than 1 year and 5 years at most	8C3	0 0 K	0%	0 0 K	0%	0 0 K
Social Security and other social organizations (gross)	8D1	944,711 945 K	20.5%	783,736 784 K	-26.7%	1,069,772 1,070 K
1 year at most	8D2	944,711 945 K	20.5%	783,736 784 K	-26.7%	1,069,772 1,070 K
More than 1 year and 5 years at most	8D3	0 0 K	0%	0 0 K	0%	0 0 K
Taxes on profits (gross)	8E1	4,716,254 4,716 K	584.6%	688,956 689 K	-59.1%	1,685,069 1,685 K
1 year at most	8E2	4,716,254 4,716 K	584.6%	688,956 689 K	-59.1%	1,685,069 1,685 K
More than 1 year and 5 years at most	8E3	0 0 K	0%	0 0 K	0%	0 0 K
VAT (Gross)	VW1	34,700 35 K	15460.5%	223 0 K	-99.3%	30,067 30 K
1 year at most	VW2	34,700 35 K	15460.5%	223 0 K	-99.3%	30,067 30 K
More than 1 year and 5 years at most	VW3	0 0 K	0%	0 0 K	0%	0 0 K
Backed Obligations (gross)	VX1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VX2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VX3	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and assimilated (gross)	VQ1	265,761 266 K	180.3%	94,808 95 K	1898.5%	4,744 5 K
1 year at most	VQ2	265,761 266 K	180.3%	94,808 95 K	1898.5%	4,744 5 K
More than 1 year and 5 years at most	VQ3	0 0 K	0%	0 0 K	0%	0 0 K
Assets and liabilities associated accounts (gross)	8J1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	8J2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8J3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	8J4	0 0 K	0%	0 0 K	0%	0 0 K
Groups and associates (gross)	VI1	111,203 111 K	35.6%	82,006 82 K	161.4%	31,366 31 K
1 year at most	VI2	111,203 111 K	35.6%	82,006 82 K	161.4%	31,366 31 K
More than 1 year and 5 years at most	VI3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	V14	0 0 K	0%	0 0 K	0%	0 0 K
Other liabilities (gross)	8K1	0 0 K	0%	104,893 105 K	0%	0 0 K
1 year at most	8K2	0 0 K	0%	104,893 105 K	0%	0 0 K
More than 1 year and 5 years at most	8K3	0 0 K	0%	0 0 K	0%	0 0 K
Debt representative of borrowed securities (gross)	SZ1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	SZ2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	SZ3	0 0 K	0%	0 0 K	0%	0 0 K
Products in advance (gross)	8L1	2,429,431 2,429 K	-13.3%	2,800,700 2,801 K	10.4%	2,537,797 2,538 K
1 year at most	8L2	900,769 901 K	-13.8%	1,044,933 1,045 K	-58.8%	2,537,797 2,538 K
More than 1 year and 5 years at most	8L3	1,093,959 1,094 K	-6.6%	1,171,252 1,171 K	0%	0 0 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Loans made during the period	VJ	0 0 K	0%	0 0 K	0%	0 0 K
Debt repaid during the period	VK	0 0 K	0%	0 0 K	0%	0 0 K

Table allocation results and other information

Dividends distributed

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Dividends	ZE	0 0 K	0%	0 0 K	0%	0 0 K

Commitments

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Commitments leasing furniture	YQ	0 0 K	0%	0 0 K	0%	0 0 K
Commitments Real Estate Leasing	YR	0 0 K	0%	0 0 K	0%	0 0 K
Effects brought to the discount and unmatured	YS	0 0 K	0%	0 0 K	0%	0 0 K

Other charges Externes

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Subcontracting	YT	0 0 K	0%	0 0 K	0%	0 0 K
Rentals, rental charges and condominiums	XQ	0 0 K	0%	0 0 K	0%	0 0 K
Staff outside the company	YU	0 0 K	0%	0 0 K	0%	0 0 K
Remuneration intermediaries and fees (excluding fees)	SS	0 0 K	0%	0 0 K	0%	0 0 K
Fees, commissions and brokerage	YV	0 0 K	0%	0 0 K	0%	0 0 K
Other accounts	ST	0 0 K	0%	0 0 K	0%	0 0 K
Total Other purchases and external	ZJ	0 0 K	0%	0 0 K	0%	0 0 K

Taxes and Fees

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Business tax	YW	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and payments assimilated	9Z	0 0 K	0%	0 0 K	0%	0 0 K
Total taxes and fees	YX	0 0 K	0%	0 0 K	0%	0 0 K

VAT

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Amount VAT collected	YY	0 0 K	0%	0 0 K	0%	0 0 K
Total VAT on goods and services	YZ	0 0 K	0%	0 0 K	0%	0 0 K

Average number of employees

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Average number of employees	YP	93 0 K	17.7%	79 0 K	-7.1%	85 0 K

Groups and Shareholders

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Groups and Shareholders	ZR	0 0 K	-	- -	-	- -

Ratios

Synthetic financial performance indicators

31/12/2016

31/12/2015

31/12/2014

Score

Situation

Score

Situation

Score

Situation

Hide AFDCC 2

10.78

Healthy

10.06

Healthy

7.61

Healthy

Description

The AFDCC 2 score uses sectors of activity and company sizes for companies with a turnover of 150 000 to 75 million euros. This calculation allows a classification of the companies in three levels:
-	Healthy: the higher the score value is, the more the company is healthy.
-	Undetermined: it’s impossible to determine the situation.
-	Fragility/Failure: the lower the score value is, the more the company is in danger.
The status are completed which “+/-“ signs.

Hide Conan & Holder

0.52

0%

0.48

0%

0.44

0%

Description

The Conan and Holder (1979) is a recommended method for industrial companies with a turnover of 150 000 to 75 million euros. It is based only on a balance sheet. This calculation allows a classification of the most perilous situation (Score lower than 0.002) to the healthiest situation (score greater than 0.16):
-	Healthy situation: companies which maintain or develop their activity level.
-	Situation to monitor: companies which has to follow remedial measures or find a new strategy.
-	Perilous situation: companies which could have important cash difficulties and have a failure risk.

Hide Altman

-

-

-

-

-

-

Description

The Altman score is a method based only on a complete balance sheet, this calculation allows a classification of the companies in three levels:
-	Good shape: companies which have a low risk (with a score value higher than 2.99).
-	Warning signs: companies which should be approached with caution and with a high risk in the next two years for bankruptcy (with a score value between 2.99 and 1.81).
-	Bankruptcy: companies which are in immediate risk (with a score value lower than 1.81).

Structure and Liquidity

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Fixed Asset Financing	3.76	-3.3%	3.89	100.5%	1.94	35.46	-89.4%	2.91	29.2%
Global Debt	125 days	-3.8%	130 days	-7.1%	140 days	6,468.23 days	-98.1%	112 days	12.1%
Working Capital Fund overall net	442 days	-16.1%	527 days	235.7%	157 days	7,262.15 days	-93.9%	74 days	497.3%
Financial independence	21,403.06 %	12.9%	18,958.15 %	163.6%	7,192.33 %	33,694.15 %	-36.5%	238.87 %	8860.1%
Solvability	80.64 %	-3.3%	83.35 %	27.4%	65.42 %	23.12 %	248.8%	39.58 %	103.7%
Capacity debt futures	-	-	-	-	30,116.33 %	224,547.63 %	-	1,545.64 %	-
Coverage of current assets by net working capital overall	77.81 %	-3.9%	80.96 %	51.0%	53.62 %	30.01 %	159.3%	47.39 %	64.2%
General Liquidity	1.89	22.7%	1.54	18.5%	1.30	1.72	9.9%	0.75	152.0%
Restricted Liquidity	4.69	-20.6%	5.91	194.0%	2.01	4.17	12.5%	1.19	294.1%

Management or rotation

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Need background in operating working capital	117 days	172.1%	43 days	-28.3%	60 days	6.35 days	1742.5%	25 days	368.0%
Treasury	307 days	-33.7%	463 days	382.3%	96 days	410.12 days	-25.1%	18 days	1605.6%
Inventory turnover of goods	476 days	269.0%	129 days	21.7%	106 days	298.49 days	59.5%	59 days	706.8%
Average length of credit granted to customers	189 days	71.8%	110 days	-22.5%	142 days	176.01 days	7.4%	62 days	204.8%
Average length of credit obtained suppliers	114 days	-21.4%	145 days	1.4%	143 days	201.96 days	-43.6%	60 days	90.0%
Inventory turnover of raw materials in industrial enterprises	0 days	0%	0 days	0%	0 days	163.68 days	0%	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	825 days	-	-	-	-	45,140.06 days	-98.2%	1,582 days	-47.9%
Rotation tangible assets	824.96 %	22.3%	674.69 %	-	-	16,183.48 %	-94.9%	1,902.66 %	-56.6%

Profitability of the business

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Margin trading	49.23 %	-23.2%	64.06 %	-4.5%	67.10 %	27.80 %	77.1%	29.12 %	69.1%
Profitability of the business	46.00 %	19.6%	38.47 %	-6.4%	41.11 %	-43.34 %	206.1%	4.41 %	943.1%
Net profit	27.03 %	19.2%	22.68 %	-15.6%	26.86 %	-502.41 %	105.4%	2.69 %	904.8%
Growth rate of turnover (excluding VAT)	46.42 %	198.3%	15.56 %	-42.8%	27.20 %	26.06 %	78.1%	2.63 %	1665.0%
Rates integration	64.91 %	8.0%	60.10 %	-3.9%	62.52 %	-16.39 %	496.0%	23.79 %	172.8%
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	0.19 %	0%	0.00 %	0%
Work Factor	26.78 %	-19.1%	33.12 %	5.0%	31.54 %	-244.23 %	111.0%	66.61 %	-59.8%
Weight interests	0.95 %	8.0%	0.88 %	486.7%	0.15 %	155.16 %	-99.4%	0.12 %	691.7%

Return on capital

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Cash flow from the overall profitability	31.70 %	8.9%	29.10 %	0.3%	29.00 %	7,263.39 %	-99.6%	3.60 %	780.6%
Rates of economic profitability	30.00 %	42.9%	21.00 %	-61.8%	55.00 %	16.59 %	80.8%	16.00 %	87.5%
Financial profitability	72,073,092.00 %	22.9%	58,647,215.00 %	181.7%	20,816,408.00 %	5,449,346.78 %	1222.6%	150,059.00 %	47929.8%
Return on investment	18.34 %	41.5%	12.96 %	-63.9%	35.91 %	15.53 %	18.1%	11.74 %	56.2%

Management intermediate balances

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Turnover

47,479,623 47,480 K

46.4%

32,427,639 32,428 K

15.6%

28,061,760 28,062 K

31,542,104.53 31,542.10 K

50.5%

731,338 731 K

6392.2%

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Sales of goods

25,759,103 25,759 K

-0.8%

25,965,947 25,966 K

9.6%

23,684,811 23,685 K

-

-

- Purchase of goods

3,678,268 3,678 K

-34.6%

5,623,677 5,624 K

8.3%

5,191,524 5,192 K

-

-

+/- Stock of goods variation

-1,295,638 -1,296 K

-200.9%

-430,614 -431 K

-28.3%

-335,546 -336 K

-

-

Trading margin

23,376,473 € 23,376 K €

12.5%

20,772,884 € 20,773 K €

10.3%

18,828,833 € 18,829 K €

5,840,089.49 € 5,840.09 K €

300.3%

151,576 € 152 K €

15322.3%

49.23 % CA 49.23 % CA

-23.2%

64.06 % CA 64.06 % CA

-4.5%

67.10 % CA 67.10 % CA

28.63 % CA 28.63 % CA

72.0%

29.73 % CA 29.73 % CA

65.6%

		31/12/2016		Variation		31/12/2015		Variation		31/12/2014	Sector Average 2016		Sector Median 2016
Sale of goods produced		21,720,520 21,721 K		236.1%		6,461,692 6,462 K		47.6%		4,376,949 4,377 K		-		-
+/- Stocked production		0 0 K		0%		0 0 K		0%		0 0 K		-		-
+ Self-constructed assets		1,019,813 1,020 K		-16.8%		1,225,883 1,226 K		49.4%		820,685 821 K		-		-
Period production		22,740,333 € 22,740 K €		195.8%		7,687,575 € 7,688 K €		47.9%		5,197,634 € 5,198 K €	3,443,308.78 € 3,443.31 K €	560.4%	48,267 € 48 K €	47013.6%
		47.89 % CA 47.89 % CA		102.0%		23.71 % CA 23.71 % CA		28.0%		18.52 % CA 18.52 % CA	34.73 % CA 34.73 % CA	37.9%	6.19 % CA 6.19 % CA	673.7%
	31/12/2016		Variation		31/12/2015		Variation		31/12/2014		Sector Average 2016		Sector Median 2016
Trading margin	23,376,473 23,376 K		12.5%		20,772,884 20,773 K		10.3%		18,828,833 18,829 K		5,840,089.49 5,840.09 K	300.3%	151,576 152 K	15322.3%
+ Period Production	22,740,333 22,740 K		195.8%		7,687,575 7,688 K		47.9%		5,197,634 5,198 K		3,443,308.78 3,443.31 K	560.4%	48,267 48 K	47013.6%
- Purchase of raw materials	3,581,140 3,581 K		980.0%		331,590 332 K		0%		0 0 K			-		-
+/- Change in stocks of raw materiels	0 0 K		0%		0 0 K		0%		0 0 K			-		-
- Other external purchases and charges	11,715,955 11,716 K		35.6%		8,640,956 8,641 K		33.3%		6,483,570 6,484 K			-		-
Added value	30,819,711 € 30,820 K €		58.1%		19,487,913 € 19,488 K €		11.1%		17,542,897 € 17,543 K €		4,938,104.41 € 4,938.10 K €	524.1%	177,417 € 177 K €	17271.3%
	64.91 % CA 64.91 % CA		8.0%		60.10 % CA 60.10 % CA		-3.9%		62.52 % CA 62.52 % CA		-16.39 % CA -16.39 % CA	496.0%	23.79 % CA 23.79 % CA	172.8%

	31/12/2016		Variation		31/12/2015		Variation		31/12/2014		Sector Average 2016		Sector Median 2016
Added value	30,819,711 € 30,820 K €		58.1%		19,487,913 € 19,488 K €		11.1%		17,542,897 € 17,543 K €		4,938,104.41 € 4,938.10 K €	524.1%	177,417 € 177 K €	17271.3%
+ Operating grants	0 0 K		0%		-2,998 -3 K		0%		0 0 K			-		-
- Tax, duty and similar payments	728,092 728 K		30.4%		558,148 558 K		17.8%		473,997 474 K			-		-
- Personal charges	8,253,216 8,253 K		27.9%		6,453,464 6,453 K		16.6%		5,533,220 5,533 K			-		-
Gross operating surplus	21,838,403 € 21,838 K €		75.1%		12,473,303 € 12,473 K €		8.1%		11,535,680 € 11,536 K €		1,080,158.01 € 1,080.16 K €	1921.8%	28,871 € 29 K €	75541.3%
	46.00 % CA 46.00 % CA		19.6%		38.47 % CA 38.47 % CA		-6.4%		41.11 % CA 41.11 % CA		-43.34 % CA -43.34 % CA	206.1%	4.41 % CA 4.41 % CA	943.1%
		31/12/2016		Variation		31/12/2015		Variation		31/12/2014	Sector Average 2016		Sector Median 2016
Gross operating surplus		21,838,403 € 21,838 K €		75.1%		12,473,303 € 12,473 K €		8.1%		11,535,680 € 11,536 K €	1,080,158.01 € 1,080.16 K €	1921.8%	28,871 € 29 K €	75541.3%
+ Release of reserves and provisions		153,492 153 K		387.3%		31,500 32 K		-88.5%		273,043 273 K		-		-
+ Other operating income		249,167 249 K		0.8%		247,198 247 K		138.4%		103,676 104 K		-		-
- Depreciation/ Amortisation		2,320,011 2,320 K		104.7%		1,133,225 1,133 K		5.1%		1,077,764 1,078 K		-		-
- Other charges		1,069,270 1,069 K		37.0%		780,302 780 K		11.4%		700,408 700 K		-		-
Operating result		18,851,781 € 18,852 K €		73.9%		10,838,474 € 10,838 K €		6.9%		10,134,227 € 10,134 K €	1,479,911.84 € 1,479.91 K €	1173.8%	25,738 € 26 K €	73144.9%
		39.70 % CA 39.70 % CA		18.8%		33.42 % CA 33.42 % CA		-7.4%		36.11 % CA 36.11 % CA	24.72 % CA 24.72 % CA	60.6%	3.62 % CA 3.62 % CA	996.7%

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Operating result

18,851,781 € 18,852 K €

73.9%

10,838,474 € 10,838 K €

6.9%

10,134,227 € 10,134 K €

1,479,911.84 € 1,479.91 K €

1173.8%

25,738 € 26 K €

73144.9%

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

0 0 K

0%

0 0 K

0%

0 0 K

-

-

+ Financial income

598,390 598 K

35.0%

443,274 443 K

165.8%

166,775 167 K

-

-

- Financial charges

450,756 451 K

57.7%

285,824 286 K

574.8%

42,356 42 K

-

-

Pre-tax result

18,999,415 € 18,999 K €

72.8%

10,995,924 € 10,996 K €

7.2%

10,258,646 € 10,259 K €

1,561,929.03 € 1,561.93 K €

1116.4%

24,728 € 25 K €

76733.6%

40.02 % CA 40.02 % CA

18.0%

33.91 % CA 33.91 % CA

-7.2%

36.56 % CA 36.56 % CA

-74.68 % CA -74.68 % CA

153.6%

3.54 % CA 3.54 % CA

1030.5%

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Extraordinary income

116 0 K

-99.7%

40,392 40 K

-76.8%

174,092 174 K

791,484.10 791.48 K

-100.0%

0 0 K

0%

- Extraordinary charges

165,196 165 K

-85.3%

1,120,916 1,121 K

264.7%

307,345 307 K

-

-

Extraordinary result

-165,080 € -165 K €

84.7%

-1,080,524 € -1,081 K €

-710.9%

-133,253 € -133 K €

27,824.17 € 27.82 K €

-693.3%

0 € 0 K €

0%

-0.35 % CA -0.35 % CA

89.5%

-3.33 % CA -3.33 % CA

-608.5%

-0.47 % CA -0.47 % CA

-697.36 % CA -697.36 % CA

99.9%

0.00 % CA 0.00 % CA

0%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Pre-tax result	18,999,415 € 18,999 K €	72.8%	10,995,924 € 10,996 K €	7.2%	10,258,646 € 10,259 K €	1,561,929.03 € 1,561.93 K €	1116.4%	24,728 € 25 K €	76733.6%
Extraordinary result	-165,080 € -165 K €	84.7%	-1,080,524 € -1,081 K €	-710.9%	-133,253 € -133 K €	27,824.17 € 27.82 K €	-693.3%	0 € 0 K €	0%
- Employee profit sharing	802,174 802 K	93.3%	414,886 415 K	0%	0 0 K		-		-
- Tax on profits	5,200,346 5,200 K	142.3%	2,146,630 2,147 K	-17.1%	2,588,678 2,589 K		-		-
Net result	12,831,815 € 12,832 K €	74.5%	7,353,884 € 7,354 K €	-2.4%	7,536,715 € 7,537 K €	1,007,048.53 € 1,007.05 K €	1174.2%	21,438 € 21 K €	59755.5%
	27.03 % CA 27.03 % CA	19.2%	22.68 % CA 22.68 % CA	-15.6%	26.86 % CA 26.86 % CA	-502.40 % CA -502.40 % CA	105.4%	2.69 % CA 2.69 % CA	904.8%

Key Performance Indicators

	31/12/2016	31/12/2015	31/12/2014
Company Result	47,479,623 €	32,427,639 €	28,061,760 €
Sector Average	31,542,105 €	27,437,343 €	29,088,965 €

Net Profit

	31/12/2016	31/12/2015	31/12/2014
Company Result	12,831,813 €	7,353,883 €	7,536,716 €
Sector Average	949,390 €	853,674 €	453,190 €

Net Export Turnover

	31/12/2016	31/12/2015	31/12/2014
Company Result	42,632,326 €	31,015,445 €	27,048,992 €
Sector Average	3,341,750 €	3,129,814 €	3,133,761 €

Account Total

	31/12/2016	31/12/2015	31/12/2014
Company Result	89,378,699 €	70,362,934 €	31,818,134 €
Sector Average	15,683,999 €	14,889,488 €	14,758,729 €

Shareholders Equity

	31/12/2016	31/12/2015	31/12/2014
Company Result	72,073,092 €	58,647,215 €	20,816,408 €
Sector Average	5,450,633 €	5,244,095 €	5,150,972 €

Liabilities

	31/12/2016	31/12/2015	31/12/2014
Company Result	16,442,069 €	11,697,048 €	10,950,228 €
Sector Average	8,873,957 €	8,428,326 €	8,309,132 €

Need background in operating working capital

	31/12/2016	31/12/2015	31/12/2014
Company Result	117 €	43 €	60 €
Sector Average	6 €	-959 €	49 €

Gross operating surplus (EBE)

	31/12/2016	31/12/2015	31/12/2014
Company Result	21,838,403 €	12,473,303 €	11,535,680 €
Sector Average	1,080,158 €	859,051 €	734,131 €

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.10
UK Pound	1	INR 94.44
Euro	1	INR 79.59
Euro	1	INR 79.50

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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