natgillin/translations-raw huggingface dataset:
план за съкращаване на разходите за стоки и услуги,
Sales proposed in the 2002 notification (EUR thousand)
ангажимент, че SNCM няма да предизвиква тарифна война с конкурентите си в Корсика.
the Aliso
По повод последната точка френските органи уточниха, че: „SNCM приема този ангажимент безрезервно, тъй като смята, че една тарифна война няма да отговаря нито на стратегическото му положение, нито на неговия интерес, защото ще доведе до намаляване на приходите му, както и не отговаря на обичайните му практики и начин на действие“.
(instead of the Asco, in accordance with the Commission decision of 8.9.2004)
В рамките на плана за преструктуриране френските органи представиха на Комисията подробен финансов макет за периода 2002—2007 г. на базата на усреднени хипотези за редица променливи величини [66].
the Napoléon
Финансовите прогнози показват и връщане към положителните текущи резултати от 2003 г.
the Monte Rotondo
Таблица 1
the Liberté
Финансов макет за периода 2002—2007 г.
All Schuman property
Резултати за 2000, 2001 и 2002 г. съгласно годишните отчети за 2001 и 2002 г. на SNCM.
Additional sales required by the Commission in its decision of 9.7.2003 (EUR thousand)
в милиони EUR
Additional sales occurring after the decision of July 2003 (EUR thousand)
2000 г. изпълнен
the Asco
2001 г. изпълнен
Sud-Cargos
2002 г. план
Sales of flats from SNCM’s housing stock
2002 г. изпълнен
(formerly occupied by SNCM staff)
2003 г. план
to 2006
2004 г. план
TOTAL (EUR thousand)
2005 г. план
The process of selecting private partners took place from 26 January 2005 to the end of September 2005.
2006 г. план
On 26 January and 17 February 2005, the French Government announced that it was going to begin searching for a private partner to take a stake in SNCM’s capital, with a view to strengthening the latter’s financial structure and supporting it in the changes necessary for its growth.
2007 г. план
Agence des Participations de l’État (‘APE’) appointed an independent party to supervise the search process and instructed an advisory bank (HSBC) to contact potential buyers.
Оборот
In that context, 72 industrial and financial investors were contacted for the purpose of specifying the financial conditions of a proposal to support the company’s industrial plan and preserve jobs and the efficient performance of the public service.
Субсидии за дейността
Twenty-three of them submitted expressions of interest, 15 confidentiality agreements were signed and 15 information notes were sent.
Текущ резултат
Six undertakings submitted offers in the first round on 5 April 2005 and three offers (Connex — now Veolia Transdev (VT), Caravelle and BCP) were received in the second round on 17 June 2005 as well as an expression of interest for a minority stake (Comanav).
Нетен резултат
Three offers were received in the third round on 28 July 2005.
Собствен капитал
On 14 September 2005, each undertaking was invited to submit its firm and final proposal before 15 September 2005.
Нетни финансови задължения (без лизинг)
On that date, since Connex had withdrawn, the State received two firm proposals of capital contributions and the purchase of the entire capital from the BCP and Caravelle groups.
Финансова рентабилност
On 27 September 2005, France published a press release stating that, on the basis of an in-depth examination of the two proposals, the one submitted by the BCP group was chosen because, while being the most acceptable from a financial point of view, it was the best able to defend the interests of the company, the public service and jobs.
Текущ резултат/оборот+субсидии
BCP’s initial offer was for a negative price of EUR 113 million and was the lowest estimate of the negative price.
Собствен капитал/балансова задлъжнялост
That initial offer from the potential buyers provided expressly for the possibility of adjusting their initial proposal once audits had been carried out.
Капиталовата вноска от 76 млн.
The French authorities stated that the initial negative price was revised upwards following the audits presented on 16 December 2005 owing to objective elements influencing the regulatory and economic context in which SNCM operates which occurred after the proposal was submitted on 15 September 2005.
EUR, както и връщането към рентабилност на дейността, предвиждано още от 2003 г., би трябвало според френските органи да направят възможно увеличаването в кратък срок на собствения капитал от нивото му от около 30 млн.
The negative price was thus revised to EUR 200 million.
EUR в края на 2001 г. до 120 млн.
The negotiations between the French authorities and the future buyers, i.e. BCP in association with the Connex group, now Veolia Transdev, a subsidiary of Veolia, made it possible to lower that figure to EUR 142,5 million, increased by the payment of a part of the expenditure relating to the mutual societies of SNCM’s retired employees (EUR 15,5 million).
EUR (2003 г.) и после до 160—170 млн.
Following this open, transparent and non-discriminatory selection procedure, an agreement was finally reached on 13 October 2005 between the State, BCP and VT in a very difficult company and financial context.
EUR до края на плана (2006—2007 г.).
VT is SNCM’s industrial operator (28 % stake) whereas BCP is the main shareholder with a stake of 38 %.
По този начин би трябвало да се намали финансовата задлъжнялост от 145 млн.
The State committed itself, in particular towards the employees, to retaining a 25 % [69] stake in the company.
EUR през 2002 г. до 40—55 млн.
BCP and VT drew up a business plan for SNCM which was notified to the European Commission on 7 April 2006.
EUR от 2003 до 2005 г.
The content of the memorandum of understanding
В последните години от плана от компанията се предвижда известно увеличаване на задлъжнялостта за обновяване на един или два собствени кораба.
The memorandum of understanding, under which 75 % of SNCM’s capital is sold to private buyers, was signed on 16 May 2006 by the parties (BCP, VT and CGMF).
Френските органи предоставиха и проучване на чувствителността на изчислените резултати по отношение на работните хипотези за трафика по отделните линии.
Section II of the memorandum of understanding provides that CGMF undertakes to approve, subscribe to and fully pay up an increase in SNCM’s capital for a total of EUR 142,5 million.
На тази база различните симулации показват, че SNCM би трябвало да намери отново пътя към рентабилността при разглежданите случаи.
In addition to the increase in capital, CGMF undertakes to make EUR 38,5 million available to SNCM, in the form of a current account advance.
Най-напред френските органи отбелязаха два алтернативни метода, които са отхвърлили поради това, че са много скъпи.
That advance, which will be paid by SNCM to a trustee (the bank CIC), is intended to finance the ‘ex gratia’ part of the cost, which is in addition to amounts payable under legislation and agreements in the event of a plan to reduce staff numbers implemented by the buyers.
Първият метод на изчисление се състои в събиране на разходите на всички мерки за преструктуриране.
The payment of compensation over and above payments received in accordance with legislation and agreements is done on an individual and named basis corresponding to staff who have left the undertaking and whose employment contract was terminated.
Той би дал като резултат необходимо финансиране от 90,9 млн.
That mechanism is laid down in Article II.2 of the sale agreement of 16 May 2006, which provides that that account is intended ‘to finance the proportion of the cost of possible voluntary departures or termination of employment contracts … which is in addition to sums of all kinds which must be paid by the employer under legislation and agreements.’
EUR, като включва:
The task of the trustee is ‘to release funds as soon as the employees in question who have not been redeployed internally within the SNCM group actually leave the company and to release the balance of the amount on deposit at the end of the trusteeship’.
кумулираните загуби от 1991 до 2001 г. — 41,7 млн.
The operation of this account is the subject of a trusteeship agreement annexed to the memorandum of understanding.
EUR (или 29 млн.
In order to enable the escrow account to be activated, SNCM must provide the Chairman of CGMF with a list of the names of staff whose employment contract has been terminated and for whom activation of the escrow account is requested together with a monthly statement of the net expenditure, which is the detailed breakdown of all the compensation and expenses paid to the staff in question.
EUR — цифра, потвърдена с Решение 2002/149/ЕО от 30 октомври 2001 г.
At the same time, SNCM informs the trustee of the ‘additional actual monthly cost’ per employee, which is the amount over and above the sums of all kinds which must be paid by the employer under legislation and agreements.
(ОВ L 50, 21.2.2002 г., стр.
The total amount of additional ex gratia measures by the State may not, under any circumstances, exceed EUR 38,5 million and in the event that these additional social measures do not reach this threshold in the 3 years following the sale, the balance will be repaid to the State.
66), 6,1 млн.
Section III of the memorandum of understanding provides that CGMF, following these transactions, is to sell to the private buyers its shares representing 75 % of the shares comprising the share capital of the undertaking and the escrow account intended to finance the part of the social plan over and above any obligations under agreements or legislation.
EUR за 2000 г. и 6,6 млн.
Section III of the memorandum of understanding also provides for an additional capital increase of EUR 8,75 million by BCP/VT, made available to SNCM on the basis of its cash requirements.
EUR, преди разходите за преструктуриране, за 2001 г.),
Paragraph III.2.7 of the memorandum of understanding provides that the value of CGMF’s shares is to be equal, at all times, to their original nominal value increased by […] [60] Confidential information.
намаляване на ресурса, съставен от отписаните амортизации между тези две дати, или 24 млн.
% of their paid-up nominal value, multiplied by D/365, where D is the number of days since the date of sale, subject to deduction of any amounts paid (dividends, for example).
EUR (позицията намалява от 86 до 62 млн.
These arrangements do not apply in the event of receivership or liquidation of the company by the court.
EUR в баланса за периода, което отразява удължаването от дванадесет на двадесет години на амортизационния период, като най-малкото средство за този ресурс е „лизинг“ за последните доставени бройки),
The memorandum of understanding (Section III.5) includes a cancellation clause granting the right to sell SNCM, which may be exercised concurrently by the buyers should one of the following events occur because these scenarios would call into question the credibility of their business plan and the company’s return to viability:
допълнителните приходи от цесията като резултат от това преструктуриране — 21 млн.
the failure to award the public service delegation for services by sea to Corsica for the period commencing 1 January 2007 or its award on substantially worse terms,
EUR, което води до намаляване на нуждите от финансиране, и
any negative decision by the European Commission or a judgment by the General Court or by the Court of Justice, such as a rejection of the transaction or the imposition of conditions having a substantial impact on the value of the company, within a deadline of 6 years from the date of acquisition by the partners of rights in respect of the company.
кумулативният ефект на разходите по преструктурирането — 46,2 млн.
Section VII of the memorandum of understanding provides that CGMF is to pay a part of SNCM’s social security liabilities in terms of the costs of the mutual societies of its retired workers for an amount estimated at EUR 15,5 million from the date of the transfer of ownership of the undertaking.
EUR (вж. бележка под линия 58).
The detailed rules of governance of the undertaking are set out in Section IV of the memorandum of understanding.
Вторият метод на изчисление се състои в определянето на размера на собствения капитал, който да бъде изискван от банковите институции за цялата флота, като се знае, че те, за да финансират изобщо закупуването на кораб, искат собствен капитал, отговарящ на 20 до 25 % от стойността на кораба.
There will be a change in the way that SNCM is managed; it will be converted into a limited liability company with a board of directors and a supervisory board.
Направеното от френските органи изчисление на базата на историческата цена на придобиване на флотата от 843 млн.
The supervisory board will be made up of 10, then 14 members.
EUR води до необходимост от собствен капитал от 157 до 196 млн.
It will be chaired provisionally by a representative of the State.
EUR.
If the public service delegation is entrusted to SNCM, the Chairman of the supervisory board will be replaced by a representative of BCP.
След приспадане на собствения капитал, наличен в края на 2001 г., този подход показва необходимост от рекапитализация от 101 до 140 млн.
The board of directors has the task of carrying out the operational management of SNCM.
EUR.
On 26 May 2006, the French Government confirmed the sale of SNCM as well as the measures referred to above.
Методът, приложен от френските органи в крайна сметка за определяне на стойността на рекапитализацията, се състои в изчисляване на необходимото финансиране на базата на средното съотношение между собствен капитал и финансови задължения, установено през 2000 г. за пет европейски морски компании.
The measures
Въпреки различията в отчетите на тези предприятия средната стойност, възприета от френските органи е 79 %.
In the light of the foregoing, the memorandum of understanding contains three types of state measures justifying an examination under the Union’s State aid rules:
Френските органи поддържат тезата, че финансовите прогнози за периода от 2002 до 2007 г. клонят към едно средно съотношение между собствен капитал и финансови задължения от 77 %, със собствен капитал, предвиден да достигне 169 млн.
the sale of 75 % of SNCM at a negative price of EUR 158 million (capital contribution of EUR 142,5 million and payment of the costs of the mutual societies for an amount of EUR 15,5 million),
EUR през 2007 г.
the current account advance by CGMF for the amount of EUR 38,5 million for staff laid off by SNCM,
Такова равнище на собствен капитал трябва да се получи чрез рекапитализация със 76 млн.
the capital increase of EUR 8,75 million to which CGMF subscribed jointly and concurrently with the capital contribution of EUR 26,25 million by VT and BCP,
EUR и с успешното изпълнение на действията, предвидени в плана за преструктуриране.
the sale cancellation clause [70].
Мерките след рекапитализацията от 2002 г.
SUBJECT MATTER OF THIS DECISION
Предварителни бележки
This final decision relates to the measures implemented by France in favour of SNCM since 18 February 2002, namely:
Рекапитализацията и планът за преструктуриране от 2002 г. не доведоха до очакваните резултати и от 2004 г. икономическото и финансовото състояние на SNCM силно се влоши.
the balance of the capital contribution by CGMF to SNCM for the amount of EUR 76 million in 2002, i.e. EUR 15,81 million,
За това влошаване допринесоха както вътрешни фактори (социални конфликти, недостатъчно и късно постигане на целите за производителност, загуба на пазарен дял), така и фактори извън SNCM (ниска степен на атрактивност на дестинацията Корсика, придобиване на пазарен дял от страна на CFF, управленски грешки от страна на държавата [67]) и повишаването на цените на горивата.
the negative price of EUR 158 million obtained by CGMF on the sale of SNCM,
Така текущият резултат на SNCM достигна -32,6 млн.
the capital increase of EUR 8,75 million subscribed by CGMF;
EUR през 2004 г. и -25,8 млн.
This decision does not concern the compensation for SNCM’s public service obligations for the period 1991-2001, which was confirmed as being compatible with the internal market by the judgment of the General Court of 11 September 2012 [71].
EUR през 2005 г.
Nor does this decision concern the examination of the financial compensation paid or to be paid to SNCM for public service obligations for the period 2007-2013, which is the subject of a separate procedure [72].
Нетният резултат възлизаше на -29,7 млн.
Furthermore, it should be noted that the judgment of 11 November 2012 has been the subject of two appeals before the Court of Justice, lodged by SNCM and France respectively in Joined Cases C-533/12 P and C-536/12 P. This decision has been taken to comply with the judgment under appeal because the judgment annulled the decision of 8 July 2008.
EUR през 2004 г. и на -28,8 млн.
Under these conditions, if the examination of the appeals were to result in the partial or full annulment of the judgment of 11 November 2012 and reinstate certain parts of the decision of 8 July 2008, this decision would become null and void because of the appeal judgments, inasmuch as this decision concerns reinstated measures.
EUR през 2005 г.
GROUNDS LEADING TO THE INITIATION OF THE FORMAL INVESTIGATION PROCEDURE IN 2002 AND ITS EXTENSION IN 2006
Влошаването на икономическото и финансовото състояние на SNCM принуди френските органи да се освободят от активи извън предвиденото в плана за преструктуриране от 2002 г. и изисквано с решението от 2003 г., както и да открият процедура за търсене на частни партньори.
Initiation of the 2002 formal investigation procedure
Таблица 2
The Commission, in its decision to initiate the procedure of 19 August 2002, while acknowledging that SNCM was an undertaking in difficulty, expressed doubts as to the compatibility of the notified measure with the criteria laid down in point 3.2.2 of the 1999 guidelines in force at the time.
Списък на активите, прехвърлени от SNCM след 2002 г.
The Commission expressed certain doubts regarding the restructuring plan, having regard to the absence of an analysis of the causes of the undertaking’s losses.
Нетен резултат от цесията
In particular, the Commission raised questions concerning the links between the losses and the public service obligations, the impact of SNCM’s policy of buying vessels on its income statements and the measures planned to increase the undertaking’s productivity.
Дата
Moreover, the Commission noted certain lacunae in the restructuring plan, in particular the absence of specific measures to reduce the amount of intermediate consumption and the absence of a reference to SNCM’s future pricing policy.
Цесии, предложени в уведомлението от 2002 г. (в хиляди EUR)
The Commission also raised questions regarding the relevance of the calculation method adopted by the French authorities to determine the amount of the recapitalisation and regarding some of the assumptions underlying the financial simulations.
Aliso
Extension of the 2006 formal investigation procedure
(заместващ Asco съгласно решение от 8.9.2004 г. на Комисията)
By its decision of 13 September 2006, the Commission decided to extend the 2002 formal investigation procedure to the measures planned in connection with the sale of SNCM to the private sector.
Napoléon
In the event that this amount were categorised as State aid compatible with Article 86(2) of the EC Treaty, the Commission took the view that it had to be assessed in the light of the Community Guidelines on State aid for rescuing and restructuring firms in difficulty (hereinafter: ‘the 2004 guidelines’) [73].
Monte Rotondo
In so far as the amount of restructuring aid is noticeably lower than that notified in 2002 and approved in 2003, the Commission expressed doubts as to whether it was appropriate to maintain all of the compensatory measures imposed on SNCM by the 2003 decision.
Liberté
The Commission also expressed doubts about whether the conditions imposed by the 2003 decision had been complied with, namely the principle of price leadership and the frequency of services to Corsica.
Недвижим имот Schuman
As regards the negative price at which SNCM was sold, the Commission had doubts about whether the recapitalisation by the State prior to the sale of SNCM complied with the principle of the private investor in a market economy.
Допълнителни цесии, наложени от Комисията в решението ѝ от 9.7.2003 г. (в хиляди EUR)
In particular, the Commission expressed doubts as to the validity of the calculation of the liquidation costs which the State as shareholder would be required to pay in the event of SNCM being liquidated.
Допълнителни цесии, извършени след решението от юли 2003 г. (в хиляди EUR)
The Commission questioned whether the financial measures could be justified under the 2004 guidelines.
Asco
It also cast doubts on the second recapitalisation of EUR 8,75 million in relation to observance of the principles of concomitance of the private and public investment and the similarity of the subscription conditions within the meaning of the case-law.
Sud Cargos
Finally, the Commission expressed doubts as to whether the additional social measures of EUR 38,5 million in aid to individuals could constitute an indirect advantage for the undertaking.
Продажба на апартаменти от имотите на SNCM
It also highlighted the risk of conflict with the supplementary redundancy payments as part of the risks borne by a prudent investor.
(заемани преди от персонал на SNCM)
OBSERVATIONS BY THE FRENCH AUTHORITIES ON THE OPENING DECISION
до 2006 г.
ON THE 2002 RECAPITALISATION
ОБЩО (в хиляди EUR)
The restructuring plan notified in 2002 consisted of a capital contribution of EUR 76 million, of which EUR 53,48 million was public service compensation.
Процедурата за избор на частен партньор е проведена от 26 януари 2005 г. до края на септември 2005 г.
Allowing for the sale of shares carried out by SNCM [74], the amount of aid actually paid becomes EUR 69292400.
На 26 януари и 17 февруари 2005 г. френското правителство обяви, че търси частен партньор за включване в капитала на SNCM с цел да се укрепи финансовата му структура и да го подкрепи в необходимите за развитието му действия.
The French authorities take the view that, if the amount of EUR 53,48 million is compatible aid, then the amount of aid to be regarded as restructuring aid under the notification in 2002 is EUR 15,81 million.
След като номинира независимо лице за наблюдение на процедурата за търсене на частен партньор, Агенцията за дяловите участия на държавата („APE“) предостави мандат на банка консултант („HSBC“) за установяване на контакт с потенциалните кандидати.
ON THE MEASURES SUBSEQUENT TO THE 2002 RECAPITALISATION
В този контекст са установени контакти със седемдесет и двама индустриални и финансови инвеститори с оглед определяне на финансовите условия за оферта с цел да се подкрепи индустриалният проект на компанията и да се запазят работни места и доброто изпълнение на обществената услуга.
France recalls, first, that the seriousness of the industrial action of 2004 to 2005 and the deterioration in the economic and financial situation of SNCM led the State as shareholder to launch a procedure for selecting private investors in January 2005 and to implement urgent measures (in particular the sale of the Asco and the shareholding in Sud Cargos [75]).
Двадесет и три от тях са изразили интерес, подписани са петнадесет споразумения за поверителност и са изпратени петнадесет информационни меморандума.
On the negative sale price of SNCM
Шест предприятия са представили оферти на първия кръг на 5 април 2005 г. и три оферти (Connex, станало след това Veolia Transdev (VT), Caravelle и BCP) са получени за втория кръг на 17 юни 2005 г., както и заявен интерес за миноритарно участие (Comanav).
Under the relevant Community case-law at the time, the French authorities call upon the Commission to take the view that the negative sale price of SNCM of EUR 158 million does not contain any measure which may be classified as aid within the meaning of Article 87(1) of the EC Treaty because the French State acted like a private investor in a market economy.