natgillin/translations-raw huggingface dataset:
Kommissionen hæfter sig i den forbindelse ved, at AFR siden 2001 (som det fremgår af tabellen i betragtning 15) har haft en konstant faldende omsætning samt et konstant tabsniveau.
As shown by the financial data set out in recital 15 (which were not disputed by France during the formal investigation procedure), AFR had had negative capital and reserves since 2001 and had not, at the time the aid was granted, been able to reverse this trend and move back into a positive situation as regards capital and reserves.
Dette er sædvanlige tegn på en kriseramt virksomhed som omhandlet i punkt 11 i rammebestemmelserne.
Under the circumstances, the Commission considers that AFR was a firm in difficulty within the meaning of point 10(a) of the Guidelines at the time the aid was granted.
Kommissionen nævnte allerede dette i sin åbningsbeslutning som støtte for sin foreløbige konklusion om, at AFR var en kriseramt virksomhed.
In addition, in the Biria judgment, the General Court ruled that a substantial reduction in capital is indeed an indication of difficulties.
Den negative tendens i AFR's finansielle situation fremgår tillige af det forhold, at virksomheden allerede fra og med januar 2004 ikke var i stand til at betale skat og arbejdsgiverbidrag på 4,3 mio. EUR og dermed var nødt til at anmode de offentlige myndigheder om henstand og opstilling af en gældssaneringsplan.
It thus held that the Commission was right in concluding that an undertaking with negative registered capital was a firm in difficulty, irrespective of the highly specific provisions of the Guidelines.
De vigtigste elementer, som de franske myndigheder har gjort gældende for at modbevise dette, er de kreditter, der er ydet til AFR (kassekredit og forskud) samt det forhold, at AFR nød visse former for sikkerhedsstillelse fra […]'s side.
In the alternative, the Commission notes that, at the time the aid was granted, AFR also fitted the definition of a firm in difficulty given in point 11 of the Guidelines, which states that, even when none of the circumstances set out in point 10 are present, a firm may still be considered to be in difficulty, in particular where the usual signs of a firm being in difficulty are present, such as increasing losses and diminishing turnover.
Kommissionen mener, at der i den undersøgelse, der skal foretages i henhold til punkt 11 i rammebestemmelserne af virksomhedens evne til at komme på fode igen ved hjælp af midler, som den kan skaffe sig på det finansielle marked, bør tages hensyn til disse tegn.
However, point 11 of the Guidelines does stipulate that a firm in difficulty is eligible only where, demonstrably, it cannot recover through its own resources or with the funds it obtains from its owners/shareholders or from market sources.
I denne henseende konstaterer Kommissionen følgende:
This provision is therefore a reminder that the status of a firm in difficulty must be determined in the light of all the relevant indicators, but with significant weight being given to the firm's ability to recover without state intervention.
Det fremgår, at AFR havde en negativ egenkapital, og at virksomheden ikke evnede at overkomme vanskelighederne ved hjælp af egne midler.
The Commission further notes that, in accordance with settled case-law [13], such ‘symptoms’ are neither exhaustive nor cumulative and that there is no minimum number of indicators which must exist for the criteria to be fulfilled.
De franske myndigheder har anført, at AFR's aktionær, Arbel SA, på trods af sin støtte til AFR ikke var i stand til alene at genoprette datterselskabets rentabilitet.
In this regard, the Commission notes (as is clear from the table in recital 15) that, from 2001, AFR experienced a steady decline in turnover and persistent losses.
Vedrørende markedsfinansiering understreger de kreditter og garantier, som de franske myndigheder nævner, mest af alt, at AFR fortsat var i stand til at opnå kortfristet kredit for begrænsede beløb.
These are signs of a firm in difficulty within the meaning of point 11 of the Guidelines.
I betragtning af omfanget af AFR's vanskeligheder og navnlig behovet for egenkapital kan de nævnte kreditter ikke tages som tegn på, at AFR ville have kunnet overvinde sine vanskeligheder ved hjælp af finansiering opnået gennem markedskilder.
In its decision to initiate the formal investigation procedure, the Commission had already noted these signs in support of its preliminary conclusion that AFR was a firm in difficulty.
Det er i øvrigt derfor, at det var nødvendigt for regionen og storkommunen at gribe ind med finansiel støtte.
Moreover, the negative trend in AFR's financial situation is clear from the fact that, from January 2004 onwards, the firm was unable to pay by the due date taxes and social security contributions totalling EUR 4,3 million and therefore needed to ask the competent authorities for a moratorium and an arrangement to clear the debt.
For så vidt angår AFR's genopretningstiltag fra og med 2004, bemærker Kommissionen først og fremmest, at omstruktureringsforanstaltninger i henhold til rammebestemmelserne udgør en betingelse for, at statsstøtte kan være forenelig med det indre marked, og sådanne omstruktureringsforanstaltninger skal opfylde kravene i rammebestemmelserne.
The principal elements cited by France that might constitute signs to the contrary are the loans granted to AFR (current account overdraft and advance payments) and the fact that AFR had received certain guarantees from […].
Omstruktureringsforanstaltninger har imidlertid ikke nødvendigvis nogen indflydelse på spørgsmålet om, hvorvidt en virksomhed skal anses for at være kriseramt, idet dette afhænger af støttemodtagerens økonomiske situation på tidspunktet for støttens tildeling.
The Commission considers that these signs should be taken into account in the assessment, required by point 11 of the Guidelines, of the firm's ability to recover with the funds that it may have been able to obtain from market sources.
Analysen heraf foretages hovedsageligt på grundlag af virksomhedens seneste regnskabsdata.
In this respect, the Commission notes that:
I dette tilfælde drejer det sig om data for regnskabsåret 2004, på grundlag af hvilke der af ovennævnte grunde må drages den konklusion, at AFR var kriseramt på tidspunktet for tildelingen af støtten.
the fact that AFR had negative capital and reserves suggests that it was unable to overcome its difficulties with its own resources,
De franske myndigheder (og sagsøgerne, der anlagde annullationssøgsmål mod den oprindelige beslutning) gjorde gældende, at AFR's genopretningsforanstaltninger havde skabt positive resultater i de måneder, der gik forud for tildelingen af de tilbagebetalingspligtige lån.
the French authorities indicated that AFR's shareholder, Arbel SA, despite the support it provided to AFR, was unable on its own to ensure the recovery of its subsidiary,
Kommissionen kan dog konstatere, at de resultater, som påberåbes til støtte for dette argument, er ret beskedne og vilkårlige og bygger på en forholdsvis kort periode.
with regard to financial market sources, the loans and guarantees cited by France mean at the most that AFR still had some ability to obtain limited amounts of short-term credit.
Virksomhedens nettoresultat vedblev i øvrigt med at være meget negativt.
However, given the extent of AFR's difficulties, particularly its need for capital and reserves, the loans cited are not sufficient to conclude that AFR could have resolved its difficulties with funds from market sources.
Sammenholder man de tendenser, som de franske myndigheder henviser til, med de sagselementer, der viser, at virksomheden stod over for så alvorlige vanskeligheder, at dens overlevelse var truet på kort eller mellemlangt sigt — særligt det faktum, at AFR's egenkapital havde været negativ siden 2001 (en meget vigtig indikator, der vedrører et langt tidsrum) — kan de nævnte tendenser ikke betragtes som reelle tegn på en genopretning af AFR's økonomiske situation.
It was, moreover, for this reason that the regional authorities and the Communauté were obliged to step in financially.
Tendenserne ændrer således ikke ved, at der var tydelige tegn på, at AFR faktisk var en kriseramt virksomhed.
As for the recovery measures implemented by AFR from 2004, the Commission observes, first, that the implementation of restructuring measures constitutes a condition for the compatibility of aid in relation to the Guidelines, providing that the measures comply with the Guidelines.
Det bør derfor konkluderes, at på tidspunktet for tildelingen af støtten var AFR i svære økonomiske vanskeligheder, som truede virksomhedens overlevelse på kort eller mellemlang sigt, og at virksomheden ikke var i stand til at overvinde disse vanskeligheder uden indgriben fra de offentlige myndigheders side.
They do not, however, necessarily affect the status of firm in difficulty, which is assessed on the financial soundness of the beneficiary at the time when the aid is granted.
I betragtning af ovenstående og navnlig i lyset af de finansielle resultater, der er anført i skemaet i betragtning 15, finder Kommissionen derfor, at AFR på tidspunktet for tildelingen af de tilbagebetalingspligtige lån var en kriseramt virksomhed i overensstemmelse med definitionen i rammebestemmelsernes punkt 10 og subsidiært punkt 11.
The assessment is essentially carried out using the most recent accounts established by the undertaking.
Under hensyntagen til AFR's vanskeligheder mener Kommissionen, at AFR ikke ville have været i stand til at opnå midler på samme gunstige vilkår på det almindelige lånemarked.
In the present instance, the data for the 2004 financial year were used, giving rise, for the reasons mentioned above, to the conclusion that AFR was in difficulty at the time when the aid was granted.
De her omhandlede lån har derfor givet AFR en fordel i form af en finansiering på gunstigere vilkår end de vilkår, der ville kunne opnås på lånemarkedet.
The French authorities (and the applicants who filed the challenge to the original decision) have argued that AFR's recovery measures had brought positive results in the months leading up to the granting of the repayable advances.
Påvirkning af samhandelen og konkurrencen
The Commission notes, nonetheless, that the results referred to in support of this argument were limited, haphazard and concerned a relatively short period of time.
De tilbagebetalingspligtige lån begunstiger AFR i forhold til andre virksomheder, der befinder sig i en lignende situation, for så vidt som disse lån udelukkende blev ydet til AFR.
In addition, the undertaking continued to post a sizeable net loss.
Sektoren for fremstilling af rullende jernbanemateriel kendetegnes ved, at der findes flere europæiske producenter, og at der foregår samhandel inden for EU.
Compared to the evidence attesting to severe difficulties which threatened the survival of the firm in the short or medium term, in particular the fact that AFR had had negative capital and reserves since 2001 (a very significant indicator covering a long period), the trends cited by the French authorities cannot be regarded as serious indications of a recovery in AFR's financial situation.
Den fordel, som AFR opnåede, vil derfor kunne fordreje konkurrencen og samhandelen mellem medlemsstaterne.
Accordingly, it must be concluded that, at the time the aid was granted, AFR was in serious financial difficulties that threatened its survival in the short or medium term and that it was not in a position to address those difficulties without help from the public authorities.
Konklusion
The Commission therefore takes the view, in the light of the above observations and, in particular, of the financial results shown in recital 15, that AFR was a firm in difficulty within the meaning of point 10 and, in the alternative, of point 11 of the Guidelines at the time the repayable advances were granted.
I lyset af de ovenstående betragtninger finder Kommissionen, at de tilbagebetalingspligtige lån ydet til AFR udgør statsstøtte efter artikel 107, stk. 1, i TEUF.
Given the difficulties experienced by AFR, the Commission considers that AFR would not have been able to obtain funds on such advantageous terms on the credit market.
Støttebeløb
The advances in question thus conferred an advantage on AFR by providing it with finance on more favourable terms than it would have been able to obtain on the credit market.
Når der ydes støtte i form af lån til kriseramte virksomheder, består støtteelementet i forskellen mellem den faktiske rente og den rente, som virksomheden ville have kunnet opnå for samme lån på det private marked.
Effect on trade and competition
I overensstemmelse med meddelelsen fra 1997 om referencesatser skal Kommissionen fastsætte referencesatser, som anses for at afspejle de gennemsnitlige rentesatser på markedet for mellem- og langfristede lån med normal sikkerhed.
The repayable advances confer an advantage on AFR in relation to other firms in a similar situation in that they are available only to AFR.
I meddelelsen præciseres det desuden, at den fastsatte referencesats er en minimumssats, der kan forhøjes i tilfælde af særlige risici, f.eks. i tilfælde, hvor der er tale om en kriseramt virksomhed, eller hvor den sikkerhed, bankerne normalt kræver, ikke er stillet.
The railway rolling stock manufacturing sector is characterised by the presence of several European operators and by trade within the European Union.
I sådanne tilfælde kan referencesatsen forhøjes med 400 basispoint eller derover.
Consequently, the advantage conferred on AFR is likely to distort competition and trade between Member States.
I meddelelsen fra 1997 om referencesatser præciseres det ikke, om der er mulighed for at kumulere forskellige risikopræmier under hensyntagen til forskellige risici.
Conclusion
Men selv om en sådan kumulation ikke er udelukket, skal Kommissionen i sin afgørelse begrunde valget af den metode, den har anvendt til kumulation af forskellige risikopræmier, med en analyse af praksis på finansmarkederne [14].
In the light of the above observations, the Commission considers that the repayable advances granted to AFR constitute state aid within the meaning of Article 107(1) of the TFEU.
Revisionsfirmaet Deloitte & Touche Wirtschaftsprüfgesellschaft GmbH foretog i 2004 en undersøgelse for Kommissionen [15] (i det følgende benævnt »undersøgelsen«).
Amount of the aid
På grundlag af en empirisk undersøgelse indkredsede revisionsfirmaet de præmier, som kunne iagttages på markedet for forskellige kategorier af risici i relation til virksomheder eller transaktioner (med variabel sikkerhed).
In the case of aid granted in the form of loans to firms in difficulty, the aid element is made up of the difference between the interest rate actually applied and the interest rate at which the beneficiary company could have obtained the same loan on the open market.
Undersøgelsen viste klart, at den samtidige tilstedeværelse af forskellige risikofaktorer (låntagers solvens, sikkerhedsstillelse) gav sig udslag i forhøjelser af basissatsen.
In line with the 1997 notice on reference rates, the Commission calculates reference rates which are supposed to reflect the level of market rates of interest for medium and long-term loans, backed by normal security.
Efter denne undersøgelse justerede Kommissionen sin fremgangsmåde ved beregningen af støtteelementet i lån og beskrev den nærmere i sin meddelelse fra 2008 om revision af metoden for fastsættelse af referencesatsen og kalkulationsrenten [16] (i det følgende benævnt »meddelelsen fra 2008 om referencesatser«).
The notice also stressed the fact that the reference rate constitutes a floor rate, which can be raised in situations implying a particular risk, for example when a firm is in difficulty or when the normal security required by banks is not forthcoming.
Denne meddelelse afspejler den metode, som blev anbefalet i undersøgelsen, og opererer med forskellige forhøjelser af basissatsen, alt efter virksomhedens kreditværdighed og sikkerhedsstillelsen.
In such cases, the rate can be raised by a premium of 400 basis points or more.
Det må imidlertid fastholdes, at beregningen af støtteelementet i en foranstaltning er baseret på statsstøttebegrebet, og ifølge Domstolens faste retspraksis skal »statsstøttebegrebet […] anvendes på en objektiv situation, der skal bedømmes på det tidspunkt, hvor Kommissionen vedtager sin beslutning« [17].
The 1997 notice on reference rates did not indicate whether different risk premiums could be added together to reflect various risks.
Som følge heraf er Kommissionen af den opfattelse, at den rette metode til fastlæggelse af støtteelementet er den, der findes beskrevet i meddelelsen fra 2008 om referencesatser, og den vil lægge den til grund ved vurderingen af de her omhandlede foranstaltninger.
Although a combination of different risk premiums cannot be ruled out, the Commission, in its decision, has to provide reasons for the method used in adding them together by way of analysis of common practice on the financial markets [14].
Ifølge meddelelsen fra 2008 om referencesatser svarer den præmie, der gør det muligt at udelukke tilstedeværelsen af statsstøtte i relation til en kriseramt virksomhed med lav sikkerhed, til 1000 basispoints.
In 2004, the auditors Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft wrote a report [15] for the Commission (hereinafter ‘the report’).
Som det fremgår af afsnit 5.1.3, finder Kommissionen, at AFR var en kriseramt virksomhed på tidspunktet for støttens ydelse.
On the basis of empirical research, the report ascertained the premiums prevailing on the market for various categories of risks relating to undertakings and transactions (backed by variable security).
Kommissionen noterer tillige, at der ikke var stillet sikkerhed for de tilbagebetalingspligtige lån, og at sikkerhedsstillelsen derfor må betragtes som lav.
The report clearly demonstrated that the simultaneous combination of different risk factors (borrower solvency, security) resulted in various premiums which had to be added to the base rates.
Følgelig svarer støtteelementet principielt til forskellen mellem basissatsen med tillæg af 1000 point og den rentesats, hvortil lånet blev ydet.
Following this report, the Commission's approach to calculating the aid element in loans was revised and fine-tuned in its 2008 Communication on the revision of the method for setting the reference and discount rates [16] (hereinafter ‘the 2008 Communication on reference rates’).
Men i betragtning af at Kommissionen i den oprindelige beslutning af 2. april 2008 kalkulerede med et tillæg på 800 basispoint, at støttemodtageren ikke har anfægtet denne beslutning, at ingen af støttemodtagerens konkurrenter har sat spørgsmålstegn ved den oprindelige beslutnings lovlighed, og i betragtning af de samlede omstændigheder i sagen i øvrigt, finder Kommissionen, at tillægget ikke bør forhøjes i det foreliggende tilfælde.
This Communication reflected the method advocated by the report and allowed for the addition of various premiums to base rates, depending on both the solvency of the undertaking and the security provided.
Kommissionen konkluderer, at støtteelementet svarer til forskellen mellem referencerentesatsen med tillæg af 800 basispoint og rentesatsen for det lån, der blev ydet.
And there is reason to note that in determining the aid element of the measures reference must be made to the concept of state aid and that, according to the settled jurisprudence of the Court of Justice, ‘the concept of State aid must be applied to an objective situation, which must be appraised on the date on which the Commission takes its decision’ [17].
Støttens forenelighed med det indre marked
Consequently, the Commission takes the view that the appropriate method for determining the aid element is that contained in the 2008 Communication on reference rates and aims to assess the measures in question in the light of that Communication.
I betragtning af AFR's økonomiske forhold på tidspunktet for støttens tildeling som beskrevet under betragtning 15 (tabsgivende drift over en årrække, negativ egenkapital, faldende omsætning) finder Kommissionen, at AFR var en kriseramt virksomhed som defineret i rammebestemmelserne på tidspunktet for tildelingen af de tilbagebetalingspligtige lån.
The 2008 Communication on reference rates stipulated that a premium ruling out the existence of state aid in the case of a firm in difficulty providing a low level of security would amount to 1000 basis points.
Af de grunde, der er nævnt under betragtning 41-44, ændrer bemærkningerne fra de franske myndigheder intet ved denne analyse.
As was shown in Section 5.1.3, the Commission holds that AFR was a firm in difficulty at the time when the (aid) measures were granted.
Det fremgår imidlertid af de oplysninger, som de franske myndigheder har tilvejebragt i korrespondancen forud for indledningen af den formelle undersøgelsesprocedure, at AFR's vanskeligheder kun gjaldt AFR i koncernen, og at AFR ikke havde nogen tilknytning til byggeaktiviteterne.
The Commission observes, moreover, that no security was provided to back the repayable advances and the level of security can thus be viewed as low.
Desuden mener Kommissionen, at AFR's problemer var for omfattende til at kunne løses af koncernen i betragtning af koncernens egne middelmådige resultater.
Consequently, the aid element corresponds, in principle, to the difference between the base rate to which a premium of 1000 basis points is applied and the rate at which the measure was granted.
Kommissionen finder derfor, at bestemmelserne i punkt 13 i rammebestemmelserne ikke er til hinder for, at AFR til trods for virksomhedens tilknytning til koncernen kan anses for at være berettiget til rednings- eller omstruktureringsstøtte.
In its original decision, however, the Commission held that the risk premium applicable was 800 basis points.
Støttens forenelighed bør derfor vurderes i forhold til rammebestemmelserne.
Since that decision was not challenged by the beneficiary, and none of the beneficiary's competitors has challenged the legality of that initial decision, and taking into account all of the circumstances of the present case, the Commission is of the view that there is no reason to increase the risk premium applicable in the present instance.
Endelig fremgår der intet om kompenserende modydelser i den såkaldte omstruktureringsplan, således som det faktisk kræves i rammebestemmelsernes punkt 38.
Given AFR's financial situation at the time the aid was granted, as illustrated by the table in recital 15 (running at a loss for several years, negative capital and reserves, falling turnover), the Commission considers that AFR was a firm in difficulty within the meaning of the Guidelines at the time the repayable advances were granted.
Af de ovenfor nævnte grunde finder Kommissionen, at den ikke har fået forelagt nogen omstruktureringsplan i overensstemmelse med rammebestemmelserne.
For the reasons set out in recitals 41 to 44, France's comments do not alter this analysis.
Støtten forekommer heller ikke at opfylde rammebestemmelsernes betingelser for redningsstøttes forenelighed, idet de tilbagebetalingspligtige lån blev ydet for en længere periode end seks måneder (se punkt 25 i rammebestemmelserne).
It is true that, in 2005, AFR was part of a group controlled by the Arbel SA holding company.
Det må derfor konkluderes, at den her omhandlede støtte ikke er forenelig med det indre marked.
Aside from its railways division (made up of AFR and Lormafer), the group included a construction division made up of firms specialising in the manufacture of windows for the construction industry.
KONKLUSION
However, it is clear from the information supplied by the French authorities in the correspondence exchanged before the initiation of the formal investigation procedure that the difficulties encountered by AFR were specific to it within the group as its activity had no connection with the construction division.
Kommissionen fastslår, at Frankrig ulovligt har iværksat den omhandlede støtte i strid med artikel 108, stk. 3, i TEUF.
Moreover, the Commission notes that AFR's difficulties seem to have been too great for the group to overcome, given its mediocre results.