FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: The Guidelines were last amended on 25 October 2006.
French: Les directives ont été modifiées en dernier lieu le 25 octobre 2006.
German: Der Leitfaden wurde zuletzt geändert am 25. Oktober 2006.
Spanish: Las directrices se modificaron en último lugar el 25 octubre 2006.
Italian: La guida è stata modificata da ultimo il 25 ottobre 2006.
Portuguese: Orientações com a última redacção que lhes foi dada em 25 de Outubro de 2006.
Dutch: De richtsnoeren werden voor het laatst gewijzigd op 25 oktober 2006.
Danish: Retningslinjerne blev senest ændret den 25.10.2006.
Swedish: Riktlinjerna ändrades senast den 25 oktober 2006.
Finnish: Suuntaviivat sellaisina kuin ne ovat viimeksi muutettuina 25 päivänä lokakuuta 2006.
Greek: Οι κατευθυντήριες γραμμές τροποποιήθηκαν για τελευταία φορά στις 25 Οκτωβρίου 2006.
Czech: Pokyny byly naposledy pozměněny dne 25. října 2006.
Slovak: Tieto usmernenia boli naposledy zmenené a doplnené 25. októbra 2006.
Hungarian: Az iránymutatást legutóbb 2006. október 25-én módosították.
Slovenian: Smernice so bile nazadnje spremenjene dne 25. oktobra 2006.
Romanian: Orientările au fost modificate ultima dată la 25 octombrie 2006.
Estonian: Suuniseid muudeti viimati 25. oktoobril 2006.
Latvian: Pamatnostādnēs jaunākie grozījumi izdarīti 2006. gada 25. oktobrī.
Maltese: Il-Linji ta’ Gwida ġew emendati l-aħħar fil-25 ta’ Ottubru 2006.
English: Hereinafter referred to as the State Aid Guidelines.
French: Elles sont ci-après dénommées «encadrement des aides d'État».
German: Nachstehend „Leitfaden für staatliche Beihilfen“.
Spanish: En lo sucesivo denominadas «las Directrices sobre ayudas estatales».
Italian: Di seguito «guida sugli aiuti di Stato».
Portuguese: A seguir denominadas «Orientações relativas aos auxílios estatais».
Dutch: Hierna „de richtsnoeren overheidssteun” genoemd.
Danish: I det følgende benævnt »retningslinjer for statsstøtte«.
Swedish: Nedan kallade riktlinjerna för statligt stöd.
Finnish: Jäljempänä ’valtiontuen suuntaviivat’.
Greek: Στο εξής επονομάζονται «πλαίσιο των Κρατικών Ενισχύσεων».
Czech: Dále jen „pokyny ke státní podpoře“.
Slovak: Ďalej len „usmernenia o štátnej pomoci“.
Hungarian: A továbbiakban: állami támogatásról szóló iránymutatások.
Slovenian: V nadaljnjem besedilu Smernice o državni pomoči.
Romanian: Denumite în continuare „orientări privind ajutorul de stat”.
Estonian: Edaspidi „riigiabi suunised”.
Latvian: Turpmāk tekstā – Valsts atbalsta pamatnostādnes.
Maltese: Minn hawn ‘il quddiem se jissejħu l-Linji ta’ Gwida tal-Għajnuna mill-Istat.
English: on the sale of the Icelandic State’s shares in Sementsverksmiðjan hf. (Iceland)
German: über den Verkauf der Anteile an Sementsverksmiðjan hf. durch den isländischen Staat (Island)
Finnish: Islannin valtion omistamien Sementsverksmiðjan hf:n osakkeiden myynnistä (Islanti)
Hungarian: a Sementsverksmiðjan hf.-ben lévő izlandi állami tulajdonú részvények eladásáról (Izland)
Estonian: Islandi riigi osaluse müügi kohta Sementsverksmiðjan hf.-is (Island)
Lithuanian: dėl Islandijos valstybei priklausančių „Sementsverksmiðjan hf.“ (Islandija) akcijų pardavimo
English: First of all, it was not sufficiently publicised. Moreover, it only served to select a future buyer with whom the price was negotiated afterwards.
German: Zum einen wurde das Verfahren nicht ordentlich veröffentlicht und außerdem diente es lediglich dazu, einen künftigen Käufer auszuwählen, mit dem der Preis anschließend ausgehandelt wurde.
English: THE EFTA SURVEILLANCE AUTHORITY [1],
Greek: Η ΕΠΟΠΤΕΥΟΥΣΑ ΑΡΧΗ ΕΖΕΣ [1], Έχοντας υπόψη:
Polish: URZĄD NADZORU EFTA [1],
Hungarian: AZ EFTA FELÜGYELETI HATÓSÁG [1],
Slovenian: NADZORNI ORGAN EFTA JE [1] –
Latvian: EBTA UZRAUDZĪBAS IESTĀDE [1],
Lithuanian: ELPA PRIEŽIŪROS INSTITUCIJA [1],
Maltese: L-AWTORITÀ TA’ SORVELJANZA TAL-EFTA [1],
English: HAVING REGARD to the Agreement on the European Economic Area [2], in particular to Articles 61 to 63 and Protocol 26 thereof,
Greek: τη συμφωνία για τον Ευρωπαϊκό Οικονομικό Χώρο [2], και ιδίως τα άρθρα 61 έως 63 και το επισυναπτόμενο σ ' αυτήν πρωτόκολλο αριθ. 26,
Polish: uwzględniając Porozumienie o Europejskim Obszarze Gospodarczym [2], w szczególności jego art. 61–63 oraz protokół 26,
Hungarian: TEKINTETTEL az Európai Gazdasági Térségről szóló megállapodásra [2] és különösen annak 61. és 63. cikkére, valamint 26. jegyzőkönyvére,
Slovenian: ob upoštevanju Sporazuma o Evropskem gospodarskem prostoru [2] ter zlasti členov 61 do 63 Sporazuma in Protokola 26 k Sporazumu,
Latvian: ŅEMOT VĒRĀ Līgumu par Eiropas Ekonomikas zonu [2] un jo īpaši tā 61.–63. pantu un 26. protokolu,
Lithuanian: ATSIŽVELGDAMA į Europos ekonominės erdvės susitarimą [2], ypač į jo 61–63 straipsnius ir 26 protokolą,
Maltese: Wara li kkunsidrat il-Ftehim dwar iż-Żona Ekonomika Ewropea [2], b’mod partikolari l-Artikoli 61 sa 63 u l-Protokoll 26 tiegħu,
English: On the basis of this Agreement, the State, owner of 100 % of the shares in Sementsverksmiðjan hf., sold them to Íslenskt sement ehf. for a price of ISK 68 million. Simultaneously, a separate agreement was made between Sementsverksmiðjan hf. and the National Treasury.
French: Aux termes de cet accord, l'État, propriétaire de 100 % des actions de Sementsverksmiðjan hf., les a cédées à Íslenskt sement ehf. au prix de 68 Mio ISK.
Dutch: Overeenkomstig deze overeenkomst heeft de staat, die 100 % van de aandelen in Sementsverksmiðjan hf. in bezit had, deze aan Íslenskt sement ehf. verkocht voor de prijs van 68 miljoen ISK.
Greek: Σύμφωνα με τους όρους της συμφωνίας αυτής, το κράτος, κάτοχος του 100 % των μετοχών της εταιρείας Sementsverksmiðjan hf., τις πώλησε στον όμιλο Íslenskt sement ehf. για το ποσό των 68 εκατ. ISK.
English: In contrast, the potential beneficiary of any possible State aid granted in the context of the assets-liabilities restructuring of the company made by the State in connection to the sale of shares would be the cement producer itself, i.e. Sementsverksmiðjan hf. It is from the latter that the State purchased various assets and took over pension liabilities.
Finnish: Sen sijaan, jos varojen ja velkojen uudelleenjärjestelyyn, jonka valtio toteutti yrityksen osakkeiden myynnin yhteydessä, liittyy valtiontukea, tuensaaja olisi sementin tuottaja itse, toisin sanoen Sementsverksmiðjan hf.
Greek: Αντιθέτως, ο δυνητικός δικαιούχος κάθε κρατικής ενίσχυσης που ενδεχομένως χορηγηθεί στο πλαίσιο της αναδιάρθρωσης του ενεργητικού και παθητικού της εταιρείας που πραγματοποιήθηκε από το κράτος στο πλαίσιο της πώλησης των μετοχών της θα ήταν ο ίδιος ο παραγωγός τσιμέντου, δηλαδή η εταιρεία Sementsverksmiðjan hf.
English: Article 1 The EFTA Surveillance Authority considers that the sale by the Icelandic State of its shares in Sementsverksmiðjan hf. to Íslenskt sement ehf. for a price of ISK 68 million does not constitute State aid within the meaning of Article 61 of the EEA Agreement.
Spanish: El Órgano de Vigilancia de la AELC considera que la venta por parte del Estado islandés de sus acciones en Sementsverksmiðjan hf. a Íslenskt sement ehf. por un precio de 68 millones ISK no constituye ayuda estatal en el sentido de lo dispuesto en el artículo 61, apartado 1, del Acuerdo EEE.
English: On 20 June 2005, the Authority received comments from Íslenskt sement ehf., the purchaser of Sementsverksmiðjan hf. (Event No 323552).
Estonian: Järelevalveamet sai 20. juunil 2005. aastal märkused ettevõtjalt Íslenskt Sement ehf., kes ostis riigile kuulunud ettevõtja Sementsverksmiðjan hf. aktsiad (toiming nr 323552).
Lithuanian: 2005 m. birželio 20 d. Institucija gavo įmonės „Íslenskt sement ehf.“, perkančios valstybei priklausančias „Sementsverksmiðjan hf.“ akcijas, pastabas (nuorodos Nr. 323552).
English: According to Article 61(1) of the EEA Agreement, four cumulative conditions must be fulfilled in order for a measure to constitute State aid. On the basis of the foregoing assessment, the Authority has not found reasons to investigate any of the other three conditions listed above for a measure to constitute State aid. As Íslenskt sement ehf. has not received any advantage, the Authority considers that the sale of the State’s shares in Sementsverksmiðjan hf. to the group of investors Íslenskt sement ehf. does not constitute State aid within the meaning of Article 61(1) of the EEA Agreement.
Finnish: -yritysryhmälle ei ollut ETA-sopimuksen 61 artiklan 1 kohdassa tarkoitettua valtiontukea.
English: Scenario I (so-called pessimistic scenario) produced a negative net present value (hereinafter NPV) of future free cash flows of approximately ISK 1000 million, and Scenario II (so-called optimistic scenario) a positive NPV of future free cash flows of approximately ISK 200 million. Adjusting the NPV measures by subtracting long-term debt and adding excess net current assets, the Icelandic Government arrived at estimated equity values of ISK – 897 million for Scenario I, and ISK 307 million for Scenario II.
Hungarian: Az I. forgatókönyv (az úgynevezett pesszimista forgatókönyv) körülbelül 1000 millió ISK jövőbeni szabad készpénzáramlásra negatív nettó jelenértéket eredményezett, és a II. forgatókönyv (az úgynevezett optimista forgatókönyv) körülbelül 200 millió ISK jövőbeli szabad készpénzáramlás pozitív nettó jelenértékét.A nettó jelenértékre vonatkozó intézkedéseknek a hosszú távú tartozások levonásával és a folyó eszközök nettó többletének hozzáadásával történő kiigazítása révén az izlandi kormány – 897 millió ISK becsült részvényértéket kapott az I. forgatókönyv esetére és 307 millió ISK-t a II. forgatókönyvre.
English: This is because the potential beneficiary of State aid in the case of the sale of the State’s shares in Sementsverksmiðjan hf. would be Íslenskt sement ehf. In contrast, the potential beneficiary of any possible State aid granted in the context of the assets-liabilities restructuring of the company made by the State in connection to the sale of shares would be the cement producer itself, i.e. Sementsverksmiðjan hf.
Swedish: Detta beror på att den potentiella mottagaren av statligt stöd i fallet med försäljningen av statens aktier i Sementsverksmiðjan skulle vara Íslenskt sement, medan den potentiella mottagaren av eventuellt statligt stöd inom ramen för statens omstrukturering av företagets tillgångar och skulder i samband med aktieförsäljningen skulle vara cementtillverkaren, dvs. Sementsverksmiðjan hf.
Lithuanian: Toks sprendimas pasirinktas todėl, kad potencialus valstybės pagalbos gavėjas parduodant valstybei priklausančias „Sementsverksmiðjan hf.“ akcijas būtų „Íslenskt sement ehf.“ Ir priešingai, potencialus galimos valstybės pagalbos, suteiktos valstybei restruktūrizuojant bendrovės turtą ir įsipareigojimus bei sykiu parduodant akcijas, gavėjas būtų pats cemento gamintojas, t. y.
English: Björgun is the supplier of shell sand to Sementsverksmiðjan hf. If local cement production ceases, Björgun would have no alternative outlet for its products.
Lithuanian: „Björgun“ tiekia kvarcinį smėlį bendrovei „Sementsverksmiðjan hf.“ Jei nebūtų gaminamas vietinis cementas, „Björgun“ neturėtų jokios kitos alternatyvios realizavimo rinkos.
English: The Guidelines were last amended on 25 October 2006. Hereinafter referred to as the State Aid Guidelines.
Polish: Wytyczne ostatnio zmieniono w dniu 25 października 2006 r. Dalej zwane wytycznymi w sprawie pomocy państwa.
Lithuanian: Paskutiniai jų pakeitimai buvo atlikti 2006 m. spalio 25 d. Toliau – valstybės pagalbos gairės.
English: Regarding the sale by the State of 100 % of its shares in Sementsverksmiðjan hf., in Decision No 421/04/COL to open the formal investigation procedure, the Authority questioned the applicability to the case at hand of Chapter 18B of the State Aid Guidelines on the sale by public authorities of land and buildings. The Authority considered that the State was not merely selling land and buildings which it owned but its shares in a 100 % owned undertaking. Furthermore, the Authority had doubts whether the sale had taken place in accordance with the market investor principle. It was uncertain to what extent the State took into account other considerations beyond the mere economic return of the transaction during the negotiation process and whether, accordingly, the price obtained in the sale corresponded to the market value of the company. With the notification of the transaction, the Icelandic authorities had presented a valuation of Sementsverksmiðjan hf. carried out by an independent expert on the basis of the liquidation value. In the decision to open the formal investigation procedure, the Authority questioned whether the value of a company in operation could be assumed to be equivalent to its liquidation value, which is based on the supposition that operations would cease.
Dutch: In haar Besluit nr. 421/04/COL om de formele onderzoeksprocedure te openen ten aanzien van de verkoop door de staat van 100 % van zijn aandelen in Sementsverksmiðjan hf. uitte de Autoriteit twijfels over de vraag of hoofdstuk 18B van de richtsnoeren overheidssteun van toepassing is op de verkoop door overheidsinstanties van grond en gebouwen.
English: On this basis, upon the request made by the independent expert, the Icelandic authorities were asked to produce two scenarios, Scenario I that assumed cement imports to Iceland at 30 % of the total market, and Scenario II that assumed no import. Scenario I (so-called pessimistic scenario) produced a negative net present value (hereinafter NPV) of future free cash flows of approximately ISK 1000 million, and Scenario II (so-called optimistic scenario) a positive NPV of future free cash flows of approximately ISK 200 million.
Dutch: Op deze basis en op verzoek van de onafhankelijke deskundige werd de IJslandse autoriteiten verzocht twee scenario's voor te leggen: scenario I waarin ervan werd uitgegaan dat de cementimport in IJsland 30 % van de totale markt uitmaakte, en scenario II waarin ervan werd uitgegaan dat er geen import plaatsvond. scenario I (het zogenoemde „pessimistische” scenario) leverde als resultaat een negatieve actuele nettowaarde van de toekomstige kasstromen op van circa 1 miljard ISK terwijl scenario II (het zogenoemde „optimistische” scenario) een positieve actuele nettowaarde van de kasstromen ten belope van circa 200 miljoen ISK opleverde.
English: The expert used again a discount rate of 12,4 %, as in the pessimistic scenario. He pointed out that this rate reflects the cost of equity (pre-tax) only, whereas the investment project under this scenario would normally be financed for a large part with debt, thus lowering the overall required rate of return.
Portuguese: O perito voltou a utilizar uma taxa de actualização de 12,4 %, como no cenário pessimista, indicando que esta taxa apenas reflecte o custo dos fundos próprios (antes do imposto), enquanto que o projecto de investimento seria, neste cenário, normalmente financiado por uma parte importante da dívida, diminuindo assim a taxa de retorno global exigida.
English: The net present value of the expected cash-flows from future use of a fixed asset represents the calculation of an investor for the outcome of a potential project. Cash-flow projections may therefore vary with the strategies of each individual investor.
Romanian: Valoarea netă actualizată a fluxurilor de lichidități estimate din viitoarea utilizare a unui activ imobilizat reprezintă calculul unui investitor pentru rezultatul unui potențial proiect.
English: Hence, it must be concluded that the State did not obtain lower revenue than a private operator, acting on market terms, would have got for the same assets. The State therefore acted in accordance with the market economy investor principle.
Slovak: Preto je potrebné prísť k záveru, že štát nezískal nižší výnos, ako by pri predaji tých istých aktív získal súkromný hospodársky subjekt, ktorý pôsobí za trhových podmienok.
English: The bidding procedure followed in the case at hand did not comply with the definition foreseen under Chapter 18B.2.1(1)(b). First of all, it was not sufficiently publicised.
Swedish: Det anbudsförfarande som följdes i det aktuella fallet var inte förenligt med den definition som anges i kapitel 18B.2.1.1 b. För det första offentliggjordes det inte i tillräcklig omfattning.
English: The purpose of the optimistic scenario was to establish an upper limit to the possible outcomes. The essential feature of an optimistic scenario was that operations should balance after five years.
Swedish: Syftet med det optimistiska scenariot var att fastställa en övre gräns för tänkbara resultat, och det centrala var att verksamheten skulle vara i balans efter fem år.