FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: The French authorities also refute CFF’s argument that the market value of SNCM’s fleet was underestimated, which CFF assessed at between EUR 406,5 million and EUR 426,5 million. The French authorities argue that the vessels taken into account in CFF’s calculation do not correspond to those held in SNCM’s name on 30 September 2005. The absence of discounts applied to the market value of the vessels does not take account of the background in which a potential compulsory liquidation of those assets takes place and, finally, the date chosen to calculate that market value, August 2006, is not the date of potential liquidation of SNCM to which reference must be made, that date being 30 September 2005. However, France notes that, if the calculation proposed by CFF was to be accepted, the negative price would be three times lower than the liquidation value of the assets required by the Gröditzer case-law, which would therefore be more favourable than the cases presented to the Commission by the French authorities.
Polish: Władze francuskie odrzucają również argument CFF dotyczący niedoszacowania wartości rynkowej floty SNCM, którą CFF wycenia na kwotę 406,5–426,5 mln EUR. Władze francuskie dowodzą, że statki uwzględnione w obliczeniach CFF nie odpowiadają tym, które SNCM posiadało na własność w dniu 30 września 2005 r. Nieuwzględnienie zmniejszenia wartości w wycenie w wartości rynkowej statków nie pozwala uwzględnić kontekstu, w którym miałoby się odbyć ewentualne postępowanie likwidacyjne obejmujące wspomniane aktywa, a data wybrana do obliczenia wartości rynkowej, tj. sierpień 2006 r., nie jest datą potencjalnej likwidacji SNCM, do której należy się odnosić, gdyż datą taką jest 30 września 2005 r. Ponadto Francja zauważa, że gdyby obliczenia zaproponowane przez CFF zostały uwzględnione, cena ujemna byłaby trzykrotnie niższa niż wartość likwidowanych aktywów wymagana w orzecznictwie w sprawie Gröditzer, co byłoby korzystniejsze niż założenia przedstawione Komisji przez władze francuskie.
English: As for condition (v), the expert confirmed that SNCM had complied with the number of crossings during the 2005 and 2006 financial years. However, the company had exceeded the standard maximum number of seats available on crossings departing from Marseilles in 2005 and 2006 and, to a very slight extent, the maximum number of linear metres offered on crossings departing from Toulon in 2005 and 2006 and from Marseilles in 2006.
Polish: W przedmiocie warunku (v) ekspert stwierdził, że SNCM przestrzegała liczby przepraw w latach obrachunkowych 2005 r. i 2006 r. Natomiast przekroczyła normy odnoszące się do maksymalnej liczby oferowanych miejsc w ramach przepraw z Marsylii w 2005 r. i 2006 r. oraz w bardzo ograniczonym zakresie – normy odnoszące się do maksymalnej liczby oferowanych metrów bieżących dla przepraw z Tulonu w 2005 r. i w 2006 r. oraz z Marsylii w 2006 r.
English: CFF points out that the public service delegation contract allocates a public grant to the company of EUR 64,3 million on average a year, making a total of EUR 321,5 million over five years. It argues that Article 5 of the public service delegation contract guarantees SNCM cashflow of EUR 72,8 million. Moreover, Corsica Ferries states that of the EUR 40,6 million losses recorded by SNCM in 2001, EUR 15 million relate to depreciation on the high-speed vessel Liamone.
Polish: CFF przypomina, że umowa o przekazanie obowiązku użyteczności publicznej zapewnia przedsiębiorstwu dotację publiczną średnio rzędu 64,3 mln EUR rocznie, tj. w ciągu pięciu lat dotację w łącznej kwocie 321,5 mln EUR. Według tego przedsiębiorstwa art. 5 umowy o przekazanie obowiązku użyteczności publicznej gwarantuje SNCM płynność finansową w wysokości 72,8 mln EUR. Skądinąd Corsica Ferries podkreśla, że z 40,6 mln EUR strat odnotowanych w 2001 r. przez SNCM 15 mln EUR pochodzi z aktualizacji wartości NGV Liamone.
English: According to the French authorities, that level is in any event still insufficient for CMN and the cash-flow problems which CMN came up against in 2002 illustrates that. In fact CMN had to borrow up to EUR 8 million from STEF-TFE to finance a cash deficit not covered by its banks.
Polish: Według władz francuskich taki poziom jest w każdym razie niewystarczający w przypadku CMN, co uwidacznia się w trudnościach z płynnością CMN odnotowanych w 2002 r. CMN musiała bowiem pożyczyć aż 8 mln EUR od Stef-TFE, aby sfinansować deficyt płynności, którego nie pokryły jej banki.
English: As regards the negative price at which SNCM was sold, the Commission had doubts regarding compliance of the recapitalisation by the State prior to the sale of SNCM with the principle of the private investor in a market economy. In particular, the Commission expressed doubts as to the validity of the calculation of the liquidation costs which the State shareholder would be required to pay in the event of the liquidation of SNCM.
Portuguese: Relativamente ao preço de cessão negativo da SNCM, a Comissão exprimiu dúvidas a respeito da conformidade da recapitalização pelo Estado, previamente à cessão da SNCM, com o princípio do investidor privado em economia de mercado, e em especial a respeito da validade do cálculo dos custos que o Estado accionista seria obrigado a pagar em caso de liquidação da SNCM.
English: The French authorities maintain that SNCM’s share in CMN’s capital cannot be construed as a purely financial asset, as Stef-TFE appears to allege. In conclusion, France’s position is that SNCM’s shareholdings in CMN are highly strategic in nature.
Portuguese: As autoridades francesas mantêm que a participação da SNCM no capital da CMN não pode ser considerada um activo meramente financeiro, como parece afirmar o Stef-TFE, e defendem que essa participação reveste um carácter altamente estratégico.
English: In that respect, the Commission expert considered, having carried out, where possible, a comparative analysis, that the discount applied to the gross market value of the vessels and the legal uncertainty were consistent. On that basis, it concluded that there were no arguments to reject the assessment of the value of the fleet drawn up by the French State.
Portuguese: A este respeito, o perito da Comissão, após ter efectuado, quando possível, uma análise comparativa, considerou coerentes a depreciação aplicada ao valor de mercado bruto dos navios e o risco judicial, concluindo, nesta base, não ter argumentos para rejeitar a avaliação do valor da frota feita pelo Estado francês.
English: According to the French authorities, in addition to the asset shortfall, having regard to the relevant case-law, a court would certainly find it necessary to order the French State to pay the additional redundancy payments (between EUR […] million and EUR […] million). According to the French authorities, the actual costs which the French State as shareholder would have to pay as a whole fall within an inclusive range of between EUR […] million and EUR […] million.
Portuguese: Segundo as autoridades francesas, tendo em conta a jurisprudência na matéria, além da insuficiência do activo, um juiz teria certamente condenado o Estado francês a assumir as indemnizações complementares por despedimento (entre […] e […] milhões EUR); o conjunto dos custos reais que República Francesa teria de suportar enquanto accionista situar-se-ia entre […] e […] milhões EUR.
English: In the light of the foregoing, the Commission considers that the criteria laid down by the case-law to exclude automatically the aid nature of the measure in question are fulfilled. The Commission therefore considers that the French State’s capital contribution of EUR 8,75 million does not confer any economic advantage on SNCM since that contribution was made in parallel to a contribution of private capital under comparable conditions in accordance with Community case-law.
Portuguese: Face ao que precede, a Comissão considera que estão preenchidos os critérios estabelecidos pela jurisprudência para excluir automaticamente a natureza de auxílio da medida em causa e que, por conseguinte, a injecção de capital do Estado francês, no montante de 8,75 milhões EUR, não confere uma vantagem económica à SNCM, visto ter sido efectuada paralelamente a uma injecção de capitais privados em condições comparáveis, na acepção da jurisprudência comunitária.
English: France also sent information on 21.12.2007 (TREN/A/51441), 7.1.2008 (TREN/A/86344) and 8.2.2008 (TREN/A/83661). Other documents were delivered by the French authorities at a work session of 29 February 2008
Portuguese: As autoridades francesas comunicaram também informações em 21 de Dezembro de 2007 (TREN/A/51441), 7 de Janeiro de 2008 (TREN/A/86344) e 8 de Fevereiro de 2008 (TREN/A/83661) e entregaram outros documentos numa reunião de trabalho em 29 de Fevereiro de 2008.
English: The Ferrytour partnership is a tour operator that is 100 %-owned by SNCM. It organises trips by sea to Corsica, Sardinia and Tunisia but also flights to many destinations.
Romanian: Societate în nume colectiv deținută 100 % de SNCM, Ferrytour exercită rolul de organizator de călătorii, oferind călătorii pe mare spre Corsica, Sardinia și Tunisia, dar și zboruri spre numeroase destinații.
English: Having regard to the foregoing arguments, the Commission takes the view that the measure in question gave SNCM an economic advantage. Given that the measure only benefited SNCM, that economic advantage was selective.
Slovak: So zreteľom na uvedené sa Komisia domnieva, že predmetné opatrenie poskytlo SNCM hospodársku výhodu.
English: On 15 March 2006, a briefing note on the market, the business plan (revenue part) and the account of the provisional results were delivered to the Commission by the French authorities. Other documents were delivered to the Commission on 28 March 2006 and 7 April 2006.
Slovenian: Francoski organi so 15. marca 2006 Komisiji poslali kratko obvestilo o trgu, poslovni načrt (dohodkovni del) in izkaz uspeha Drugi dokumenti so bili službam Komisije predloženi 28. marca 2006 in 7. aprila 2006.
English: That measure involved the recapitalisation of SNCM, through its parent company, CGMF, for the sum of EUR 76 million, EUR 46 million of which was for restructuring costs. That capital increase was intended to increase SNCM’s capital from EUR 30 million to EUR 106 million.
Slovenian: Ta ukrep je vseboval finančno sanacijo družbe SNCM prek matične družbe CGMF v višini 76 milijonov EUR, od tega 46 milijonov EUR iz naslova stroškov prestrukturiranja.Cilj tega povečanja kapitala je bil povečanje lastniškega kapitala družbe SNCM s 30 milijonov EUR na 106 milijonov EUR.
English: Following the Commission decision of 17 July 2002 to authorise rescue aid to SNCM, the French authorities notified the Commission on 18 February 2002 of planned restructuring aid to SNCM. That measure involved the recapitalisation of SNCM, through its parent company, CGMF, for the sum of EUR 76 million, EUR 46 million of which was for restructuring costs.
Swedish: Efter kommissionens beslut av den 17 juli 2002 om beviljande av undsättningsstöd till SNCM anmälde de franska myndigheterna den 18 februari 2002 ett förslag till omstruktureringsstöd till förmån för SNCM, via dess moderbolag CGMF, på 76 miljoner euro, varav 46 miljoner euro för omstrukturering.
English: First, CFF wonders whether the view can be taken that the transaction at issue was managed by the State at the same time as a significant and concurrent action of private operators involved in comparable circumstances, although the State recapitalised the company before the joint recapitalisation of the shareholders and the new restructuring plan. On the other hand, CFF considers that, in the face of the serious financial circumstances of SNCM, a well-informed investor would have acted sooner in order not to have his investment depreciate.
Swedish: Dels frågar sig CFF om man kan anse att den aktuella operationen bedrivs av staten parallellt med en betydande och samtidig intervention av berörda privata aktörer under jämförbara villkor/förhållanden, då staten har gett företaget ett kapitaltillskott före aktieägarnas gemensamma kapitaltillskott och den nya omstruktureringsplanen, dels anser CFF att mot bakgrund av SNCM:s finansiella svårigheter skulle en klok investerare ingripa mycket tidigare för att hindra sin investering från att minska i värde.
English: Intangible asset — —
Swedish: kommissionens expert
English: SNCM holds a direct non-majority shareholding of 45 % in CMN an indirect non-majority shareholding of 24,1 % through the Compagnie Générale de Tourisme et d’Hôtellerie (CGTH). Effective control was given to the Stef-TFE group since 1992 through its 49 % holding in Compagnie Méridionale de Participations (CMP).
Swedish: SNCM äger en direkt minoritetsandel på 45 % av CMN och en indirekt minoritetsandel på 24,1 % via Compagnie Générale de Tourisme et d’Hôtellerie (CGTH) Den egentliga kontrollen över CMN överläts 1992 till koncernen Stef-TFE, som äger 49 % av Compagnie Méridionale de Participations (CMP).
English: The number of vessels has been reduced and the programme for the disposal of assets is going ahead according to the industrial plan. Services have been reorganised and the action plan to reduce intermediate consumption is beginning to bear fruit.
Swedish: Antalet fartyg har minskats och programmet för avyttring av tillgångar fortgår enligt planerna, förbindelserna har omstrukturerats och handlingsplanen för minskad insatsförbrukning har gett sina första resultat.