natgillin/translations-raw huggingface dataset:
Et projekt betragtes som en økonomisk rentabel investering, hvis det genererer en positiv NNV.
The Commission therefore considers that the aid in question would affect trade to an extent contrary to the common interest.
Investeringer, der giver en lavere forrentning end (offer-)kapitalomkostningerne, er ikke økonomisk rentable.
This conclusion is reinforced by the absence of a common interest objective that the aid is intended to achieve.
(Offer-)kapitalomkostningerne afspejles i diskonteringssatsen.
Based on the data provided by Poland, the Commission considers that the investment costs may be lower than for the construction of other comparable regional airports in Poland.
Terminalværdien er nutidsværdien af alle pengestrømme, der genereres, efter at prognoseperioden er slut.
This is due mainly to the use of existing infrastructure at the military airfield.
Det forudsætter, at projektet vil vare for altid og vokse med en forudbestemt vækstrate (i dette tilfælde baseret på lufthavnsoperatørens egenkapital i det sidste år af den fremlagte forretningsplan).
Moreover, Poland argues that without the aid the investment would not be undertaken by the airport operator.
Meddelelse fra Kommissionen — EF-retningslinjer for finansiering af lufthavne og statslig startstøtte til luftfartsselskaber, som opererer fra regionale lufthavne (EUT C 312 af 9.12.2005, s. 1).
The Commission further observes that the long period necessary to reach the break-even point for this type of investment means that public financing could be necessary to modify the beneficiary behaviour's in such a way that it proceeds with the investment.
Retningslinjer for statsstøtte med regionalt sigte for 2007-2013 (EUT C 54 af 4.3.2006, s. 13).
Moreover, since the expected profitability of the investment project cannot be established (see recital 185) and a market economy investor would not pursue such project, it is indeed likely that the aid is changing the behaviour of the airport operator.
En investerings interne afkast (IRR) er den diskonteringsrente, ved hvilken nettonutidsværdien svarer til nul.
However, in the absence of a clearly defined objective in the common interest, the Commission concludes that the aid cannot be considered necessary and proportional to that objective.
IRR sammenlignes normalt med kapitalomkostningen.
The Commission therefore considers that the investment aid by Gdynia and Kosakowo in favour of Gdynia-Kosakowo Airport Ltd does not comply with the requirements of the 2005 Aviation Guidelines and cannot be considered compatible with the internal market.
De på daværende tidspunkt gældende regler findes i Kommissionens forordning (EF) nr. 1998/2006 af 15. december 2006 om anvendelse af traktatens artikel 87 og 88 på de minimis-støtte (EUT L 379 af 28.12.2006, s. 5).
The Commission based its assessment of the operating aid in recital 227 of Decision 2014/883/EU on the finding that ‘granting operating aid in order to ensure the operation of an investment project that benefits of incompatible investment aid is inherently incompatible with the internal market.’
I masterplanen for investeringsprojektet identificerede man de forskellige foranstaltninger, der er nødvendige for ombygningen af lufthavnen.
Without the incompatible investment aid Gdynia airport would not exist, as it is entirely financed by that aid, and operating aid cannot be granted for non-existent airport infrastructure.
FCFF bruges til at beregne virksomhedens indtægter før renter og skatter hvert år (EBIT) med tillæg af afskrivninger og amortisering (eftersom disse ikke er kontante udgifter) og med fradrag af investeringsbehov, ændringer af arbejdskapital og skatter (se tabel 5 i MEIP-undersøgelsen fra 2010).
That conclusion under the 2005 Aviation Guidelines is equally valid under the 2014 Aviation Guidelines and sufficient to find that the operating aid granted to the airport operator is incompatible with the internal market.
Den vægtede gennemsnitlige kapitalomkostning (WACC) er den sats, som en virksomhed forventes at betale til alle indehavere af værdipapirer med henblik på at finansiere sine aktiver.
Moreover, the first compatibility condition established by the 2014 Aviation Guidelines, according to which operating aid can be considered compatible if it contributes to a well-defined objective of common interest in the form of increasing the mobility of citizens of the Union and connectivity of the regions or facilitates regional development, is clearly not met if the operating aid at issue is aimed at ensuring the functioning of an airport that has been built exclusively with investment aid that is incompatible with the internal market.
Den er baseret på en risikofri sats på […] %, et kreditrisikotillæg på […] %, en selskabsskattesats på 19 %, en beta på […], et markedssatstillæg på […] % og en kapitalstruktur på […] % gæld og […] % egenkapital (jf. afsnit 4.4 på side 21 i MEIP-undersøgelsen fra 2010).
Accordingly, the Commission considers that recitals 203 et seq.
Kommissionen bemærker, at de beregninger, Polen har indsendt, synes at vise, at man benyttede en WACC med en nedadgående tendens i MEIP-undersøgelsen.
(which demonstrate that the investment aid granted to Gdynia-Kosakowo Airport Ltd, because of the duplication of airport infrastructures, does not meet a clearly defined objective of common interest and is therefore incompatible with the internal market pursuant to the 2005 Aviation Guidelines) also demonstrate that the operating aid granted to Gdynia-Kosakowo Airport Ltd is equally incompatible with the internal market, as already concluded in Decision 2014/883/EU.
Den risikofrie sats blev øget til […] %, og betaen blev øget til […].
The operating aid granted to Gdynia-Kosakowo Airport Ltd (just like the investment aid) will lead simply to the duplication of airport infrastructure in a region which appears already well served by a non-congested airport and therefore does not contribute to a well-defined objective of common interest.
Kapitalstrukturen blev ændret ved at øge gældens andel ([…] %) og sænke egenkapitalens andel ([…] %).
For the sake of completeness, the Commission notes that the same conclusion would be reached if the operating aid were to be assessed in the light of the regional aid rules invoked by Poland.
FCFE = FCFF + optagede kreditter og lån — tilbagebetalte kreditter og lån — renter på kreditter og lån.
In such a case, the Commission would have to take into account the fact that Gdynia airport is located in an underprivileged region covered by the derogation set out in Article 107(3)(a) of the TFEU, whereby the Commission would have to assess whether the operating aid at stake can be considered compatible under the RAG.
I sammenligning med FCFF diskonteres FCFE med et afkast på egenkapital, der altid er højere end WACC.
According to paragraph 76 of the RAG, operating aid in regions covered by the derogation in Article 107(3)(a) TFEU may be granted provided that the following cumulative criteria are met: (i) it is justified in terms of its contribution to regional development and its nature and (ii) its level is proportional to the handicaps it seeks to alleviate.
Dette betyder, at NNV viser, hvilken del af afkastet på investeringen aktionærerne (egenkapitalinvestorerne) får.
Poland is of the opinion that the operating aid is compatible with paragraph 76 of the RAG (see recitals 95 to 97).
NNV beregnet på grundlag af FCFE afspejler derfor ikke det samlede investeringsafkast, dvs. tilbagebetaling til aktionærer og tilbagebetaling til kreditorer.
Since Pomerania is already served by Gdańsk airport and the new airport will not improve connections with this region, the Commission would not be able to conclude that the aid would contribute to regional development.
For at afspejle forskellene i den typiske finansieringsstruktur for lufthavnsselskaber og selskaber, der leverer tjenesteydelser til lufthavne, blev sidstnævnte selskabers afkast på egenkapital øget inden beregning af gennemsnittene.
The Commission considers, therefore, that the operating aid cannot be considered proportional to the handicaps it seeks to alleviate, as Pomerania does not appear to suffer from any connectivity handicap.
Den risikofrie sats blev reduceret til […] %, og betaen blev reduceret til […].
Moreover, the Commission would take the view that the operating aid assessed has been allocated to finance a predefined set of expenditure.
Byområdet med de tre byer består af tre større byer i Pommern (Gdańsk, Gdynia og Sopot).
However, in view of the Commission's assessment of the business plan for Gdynia airport and its assessment of the level of forecast revenue and costs presented in Section 5.1.3, it cannot be concluded that the aid would be limited to a necessary minimum, granted on a transitional basis and degressive.
I øjeblikket findes der tre lufthavne i området med de tre byer: Lech Wałęsa Airport i Gdańsk, den militære flyveplads i Pruszcz Gdański og den militære flyveplads på grænsen mellem Gdynia og Kosakowo (Gdynia-Oksywie).
In particular, with regard to the uncertainties regarding the expected profitability of the airport operator (see section on the existence of aid) the transitional nature and degressivity of the aid cannot be ensured.
Sag C-35/96, Kommissionen mod Italien, EU:C:1998:303/Sml. 1998 I, s. 3851, C-41/90, Höfner og Elser, EU:C:1991:161/Sml. 1991 I, s. 1979, sag C-244/94, Fédération Française des Sociétés d'Assurances mod Ministère de l'Agriculture et de la Pêche, EU:C:1995:392/Sml. 1995 I, s. 4013, sag C-55/96, Job Centre, EU:C:1997:603/Sml. 1997 I, s. 7119.
Therefore, the Commission considers that the operating aid in favour of Gdynia-Kosakowo airport Ltd granted by Gdynia and Kosakowo is incompatible with the internal market, as it aims to ensure the operation of an airport which exists only because of incompatible investment aid and (just like that investment aid) leads simply to the duplication of airport infrastructure.
Sag C-159/91 og C-160/91, Poucet mod AGV og Pistre mod Cancave, EU:C:1993:63/Sml. 1993 I, s. 637.
The Commission has identified no other provision concerning compatibility with the internal market that could provide a basis for considering the aid in question compatible with the Treaty.
Sag C-364/92, SAT Fluggesellschaft mod Eurocontrol, EU:C:1994:7/Sml. 1994 I, s. 43.
Nor has Poland invoked any provision concerning compatibility with the internal market or provided any substantial arguments that would permit the Commission to consider this aid compatible.
Se navnlig sag C-364/92, SAT Fluggesellschaft mod Eurocontrol, Sml. 1994 I, s. 43, præmis 30, og sag C-113/07 P, Selex Sistemi Integrati mod Kommissionen, EU:C:2009:191/Sml. 2009 I, s. 2207, præmis 71.
The investment and operating aid which Poland has granted or intends to grant in favour of Gdynia-Kosakowo Airport Ltd is incompatible with the internal market.
Sag C-343/95, Cali & Figli mod Servizi ecologici porto di Genova, EU:C:1997:160/Sml. 1997 I, s. 1547, Kommissionens beslutning N309/2002 af 19. marts 2003, Kommissionens beslutning N438/2002 af 16. oktober 2002, subsidier til de belgiske havnemyndigheder for udøvelse af beføjelser som offentlig myndighed.
Poland has unlawfully implemented the aid in breach of Article 108(3) TFEU.
Se bl.a. sag C-172/03, Wolfgang Heiser mod Finanzamt Innsbruck, EU:C:2005:130/Sml.
RECOVERY
2005 I, s. 01627, præmis 36, og den nævnte retspraksis.
In accordance with the TFEU and the Court of Justice's established case-law, the Commission is competent to decide that the Member State concerned must abolish or alter aid when it has found that it is incompatible with the internal market [76].
Betragtning 25 i indledningsafgørelsen.
The Court has also consistently held that the obligation for a State to abolish aid regarded by the Commission as being incompatible with the internal market is designed to restore the previously existing situation [77].
MEIP-undersøgelsen fra 2010 angiver ikke, hvilken del af investeringerne der hører under det offentliges ansvarsområde.
In this context, the Court has stated that that objective is attained once the recipient has repaid the amounts granted by way of unlawful aid, thus forfeiting the advantage which it had enjoyed over its competitors on the market, and the situation prior to the payment of the aid is restored [78].
Kommissionen har derfor benyttet metoden i MEIP-undersøgelsen fra 2011 til at bestemme omfanget af investeringer, der hører under det offentliges ansvarsområde.
Following that case-law, Article 14 of Council Regulation (EC) No 659/99 [79] laid down that ‘where negative decisions are taken in respect of unlawful aid, the Commission shall decide that the Member State concerned shall take all necessary measures to recover the aid from the beneficiary.’
Se betragtning 132.
Therefore, the State aid mentioned above must be reimbursed to the Polish authorities, insofar as it has been paid out.
Under sagsbehandlingen ved Retten anførte Kosakowo, at […] mio. PLN ([…] mio. EUR) er brugt på investeringer, der angiveligt hører under det offentliges ansvarsområde.
The Commission recalls that it is settled case-law that the fact that undertakings are in difficulties or bankrupt does not affect the Member State's obligation to recover aid [80].
Dom af 12. maj 2011 i forenede sager T-267/08 og T-279/08, Nord-Pas-de-Calais, EU:T:2011:209/Sml. 2011 II, s. 01999, præmis 108.
Where the State authorities are unable to recover the full amount of aid, the registration of the liability meets the recovery obligation only if the insolvency proceedings result in the winding up of the undertaking concerned, i.e. the definitive cessation of its activities [82],
Sag C-305/89, Italien mod Kommissionen (»Alfa Romeo«), EU:C:1991:142/Sml. 1991 I, s.1603, sag T-296/97, Alitalia mod Kommissionen, EU:T:2000:289/Sml. 2000 II, s. 3871.
HAS ADOPTED THIS DECISION:
Sag C-40/85, Belgien mod Kommissionen, EU:C:1986:305/Sml. 1986 I, s. 2321.
Article 1
Selv om Kommissionen bad de polske myndigheder om at fremlægge de underliggende Excel-regneark, som var blevet anvendt til beregningerne, inklusive formlerne, fremsendte de polske myndigheder Excel-regnearkene uden formlerne.
Decision 2014/883/EU is withdrawn.
Sag C-124/10 P, Europa-Kommissionen mod Électricité de France (EDF), EU:C:2012:318, præmis 85.
Article 2
Jf. afsnit 4.7.5 i MEIP-undersøgelsen fra 2012.
The capital injections in favour of Gdynia-Kosakowo Airport Ltd between 28 August 2007 and 17 June 2013 constitute State aid which has been unlawfully put into effect by Poland in breach of Article 108(3) of the Treaty on the Functioning of the European Union and which is incompatible with the internal market, except in so far as these capital injections were spent on investments necessary to carry out the activities that according to Decision C(2013) 4045 final must be considered as falling within the public policy remit.
I henhold til bemærkningerne fra Polen udgjorde kapitaltilførslerne til Gdynia lufthavn pr. 26. juni 2009 i alt 1,691 mio. PLN (omkring 423000 EUR).
The capital injections which Poland is planning to implement in favour of Gdynia-Kosakowo Airport Ltd after 17 June 2013 for the conversion of the Gdynia-Kosakowo military airfield into a civil aviation airport constitute State aid which is incompatible with the internal market.
Kun […] mio. PLN (omkring […] EUR) var blevet anvendt til at finansiere de forskellige undersøgelser, der blev gennemført forud for projektet.
The State aid may accordingly not be implemented.
Aftalen betyder, at Gdynia skal foretage kontante indskud på i alt 59,048 mio. PLN (14,8 mio. EUR) i perioden 2011-2013, og at Kosakowo skal yde et ikkekontant bidrag (ombytning af årlige lejeindtægter til aktier) i perioden 2011-2040.
Article 3
Brev dateret den 6. august 2013.
Poland shall recover the aid referred to in Article 2(1) from the beneficiary.
Se side 35 i MEIP-undersøgelsen fra 2011.
The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.
Denne egenkapitalværdi omfatter nettonutidsværdien af pengestrømmene for 2012-2040 plus den beregnede diskonterede terminalværdi for Gdynia lufthavn i 2040.
The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004 [83].
Terminalværdien beregnes ud fra den forventede pengestrøm for det sidste år i den detaljerede prognose, idet der tages højde for genanskaffelsesinvesteringer til sikring af infrastrukturens fortsatte drift.
Poland shall cancel all outstanding payments of the aid referred to in Article 2(2) with effect from the date of notification of this Decision.
Jf. f.eks. Kommissionens beslutning nr. C(2009) 4445 af 3. juni 2009 om Fællesskabets finansielle støtte inden for transeuropæiske net.
Article 4
Jf. fodnote 9.
Recovery of the aid referred to in Article 2(1) and the interest referred to in Article 3(2) shall be immediate and effective.
Masterplanen blev bestilt i februar 2010 og afleveret i november 2010.
Poland shall ensure that this Decision is implemented within four months following the date of notification of this Decision.
Passagertrafikken (i 000 passagerer om året) i Gdańsk lufthavn.Faktiske passagerantal:Årstal200420052006200720082009201020112012Antal passagerer4666721256171519541911223224632906Forventede stigning i passagerantal:Årstal20132014201520162017201820192020Antal passagerer31533311347736163760391140674230
Article 5
Lavprisselskaber 64,5 %, charterflyselskaber 7,5 %.
Within two months following notification of this Decision, Poland shall submit the following information to the Commission:
I både 2009 og 2011 lå dette tal på 70 %.
the total amount (principal and recovery interest) to be recovered from the beneficiary;
Bydgoszcz lufthavn: Standardpassagerafgiften er 30 PLN (7,5 EUR), standardlandingsafgiften er 45 PLN/t (11,25 EUR) for de første 2 t MTOW, 40 PLN/t (10 EUR) mellem 2 og 15 t MTOW, 35 PLN/t (8,75 EUR) mellem 15 og 40 t MTOW, 30 PLN/t (7,5 EUR) mellem 40 og 60 t MTOW, 25 LN/t (6,25 EUR) mellem 60 og 80 t MTOW og 20 PLN/t (5 EUR) for hvert t over 80 t MTOW, en standardparkeringsafgift på 8 PLN/t/24 t (2 EUR, ingen afgift de første fire timer).
a detailed description of the measures already taken and planned to comply with this Decision;
Rabatter: Passagerafgifterne kan nedsættes med fra 5 % (hvis et flyselskab har 100-300 passagerer, der rejser fra Bydgoszcz lufthavn pr. måned) til 50 % (hvis et flyselskab har mere end 8000 passagerer, der rejser fra Bydgoszcz lufthavn pr. måned), landingsafgift — 50 % rabat de første 12 måneder for en rute, 50 % for landing mellem 14.00 og 20.00, landings- og parkeringsafgifter: 10 % for et flyselskab med 4-10 flyvninger om måneden, 15 % for 11-30 flyvninger om måneden, 20 % for mere end 31 flyvninger om måneden.
documents demonstrating that the beneficiary has been ordered to repay the aid.
Szczecin lufthavn: Standardpassagerafgiften er 35 PLN (8,75 EUR), standardlandingsafgiften er 70 PLN/t (17,5 EUR), standardparkeringsafgiften er 8 PLN/t/24 t (ingen afgift de første to timer).
Poland shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 2(1) and the interest referred to in Article 3(2) has been completed.
Rabatter: fra 20 % (hvis et selskab tilbyder afrejsende passagerer mere end 800 pladser om ugen) til 90 % (hvis der tilbydes mere end 1300 pladser).
It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision.
Beregning af passagerafgifter for lavprisselskaber.
It shall also provide detailed information concerning the amounts of aid and interest already recovered from the beneficiary.
Rabatter: Hvis et luftfartsselskab åbner en operationel base i Lublin lufthavn, er passagerafgiften pr. afrejsende passager mellem 4,21 PLN (1,05 EUR) og 5,76 PLN (1,44 EUR) i de første fem sæsoner (2,5 år).
Article 6
Der anvendes en rabat på 99 % på parkerings- og landingsafgifter.
This Decision is addressed to the Republic of Poland.
Efter fem sæsoner anvendes de samme rabatter som for nye ruter.
Done at Brussels, 26 February 2015.
Rabatter på passager-, landings- og parkeringsafgifter går fra 95 % i en forbindelses første år til 25-65 % i det femte år (afhængigt af passagertallet).
For the Commission
Efter det femte år anvendes der en rabat på 60 %, hvis et flyselskab håndterer mere end 250000 afrejsende passagerer fra Lublin lufthavn.
Member of the Commission
Disse beregninger omfatter udgifter, der hører under det offentliges ansvarsområde.
OJ C 243, 23.8.2013, p.
Eftersom MEIP-undersøgelsen blev udført i juni 2012, er analysen baseret på denne dato.
25.
En almindeligt benyttet metode til vurdering af investeringsbeslutninger for egenkapital er at betragte selskabets egenkapital.
With effect from 1 December 2009, Articles 87 and 88 of the EC Treaty have respectively become Articles 107 and 108 of the Treaty on the Functioning of the European Union (TFEU).
Egenkapitalen er selskabets værdi, som er tilgængelig for ejerne eller aktionærer.
The two sets of provisions are identical in substance.
Den beregnes ved at addere alle fremtidige pengestrømme, som er til rådighed for egenkapitalinvestorer, tilbagediskonteret med den hensigtsmæssige afkastgrad.
For the purposes of this Decision references to Articles 107 and 108 of the TFEU should be understood as references to Articles 87 and 88 of the EC Treaty when appropriate.
Den normalt anvendte diskonteringssats er egenkapitalomkostninger, som afspejler risikoen ved pengestrømmene.
The TFEU also introduced a number of changes in terminology, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’.
Sag T-214/95, Het Vlaamse Gewest mod Kommissionen, Sml. 1998 II, EU:T:1998:77/[1998], s. 717.
The terminology of the TFEU will be used throughout this Decision.
Sag T 109/01, Fleuren Compost mod Kommissionen, Sml. 2004 II, s. 127.
The Decision notified to Poland under case number C(2013) 4045 final was published with a summary in OJ C 243, 23.8.2013, p.
Meddelelse fra Kommissionen — Retningslinjer for statsstøtte til lufthavne og luftfartsselskaber (EUT C 99 af 4.4.2014, s. 3).
25.
EUT C 119 af 22.5.2002, s. 22.
Commission Decision 2014/883/EU of 11 February 2014 on the measure SA.35388 (13/C) (ex 13/NN and ex 12/N) — Poland — Setting up the Gdynia Kosakowo Airport (OJ L 357, 12.12.2014, p.
Punkt 173 i luftfartsretningslinjerne fra 2014.
51).
Punkt 172 i luftfartsretningslinjerne fra 2014.
These applications were respectively registered as Case T-215/14 and Case T-217/14.
Punkt 25, underpunkt 21, 22 og 23, i lufthavnsretningslinjerne fra 2014.
Order of the President of the General Court in case T-215/14 R Gmina Miasto Gdynia and Port Lotniczy Gdynia Kosakowo v Commission EU:T:2014:733; Order of the President of the General Court in case T-217/14 R Gmina Kosakowo v Commission, unpublished.
Som udtrykt ved Earnings Before Interest, Taxes, Depreciation and Amortisation (»EBITDA« — resultat før renter, skat og afskrivninger).
Letters from the President of the Office for Competition and Consumer Protection of 30 June 2014 and 8 January 2015.
Sag C-70/72, Kommissionen mod Tyskland, EU:C:1973:87/Sml. 1973, s. 813, præmis 13.
Depending on the route chosen, the distance by car between Gdynia and Gdańsk airports is 26 to 29 kilometres; source: Google maps, Bing maps.
Forenede sager C-278/92, C-279/92 og C-280/92, Spanien mod Kommissionen, EU:C:1994:325/Sml. 1994 I, s. 4103, præmis 75.
Gdańsk airport is owned and operated by Gdańsk Lech Wałęsa Airport Ltd, a company set up by public entities.
Sag C-75/97, Belgien mod Kommissionen, EU:C:1999:311/Sml. 1999 I, s. 3671, præmis 64-65.
The company's share capital breaks down as follows: city of Gdańsk (32 %), Pomorskie province (32 %), ‘Polish Airports’ State Enterprise (31 %), city of Sopot (3 %) and city of Gdynia (2 %).
Rådets forordning (EF) nr. 659/1999 af 22. marts 1999 om fastlæggelse af regler for anvendelsen af artikel 108 i traktaten om Den Europæiske Unions funktionsmåde (EFT L 83 af 27.3.1999, s. 1.)
Gdańsk Lech Wałęsa airport (hereinafter ‘Gdańsk airport’) is the third largest airport in Poland.