natgillin/translations-raw huggingface dataset:
In short, the Commission considers that, in contrast to the incremental improvements envisaged in the counterfactual project, the technological advance represented by the 50CO2Cars project may, if successful, provide PSA with a reservoir for growth between now and 2020 as it will enable the PSA Group to ‘diversify in the direction of new and viable activities’.
Komisjon märgib, et kõnealuse kolmanda isiku märkused on seotud komisjoni menetluses oleva kaebusega ega puuduta käesoleva menetluse eset.
The 50CO2Cars project is therefore likely to play more of a part in restoring the Group's viability than the counterfactual project.
Seetõttu ei ole käesoleva otsuse raames vajadust sellele vastata.
Partial conclusion on the contribution of the 50CO2Cars project to the PSA Group's restructuring
MIINIMUMIGA PIIRDUV ABI: TEGELIK TOETUS, ABI ARVESTAMATA
The preceding examination shows that, as a component of the restructuring plan, the 50CO2Cars project makes a positive contribution to restoring the PSA Group's viability: the adaptation of its industrial base needed for its implementation is in keeping with the restructuring strategy and the resources available and, if successful, the project will not just correct the effects of the firm's structural difficulties (major sensitivity to changes in diesel sales in Europe and backwardness in some R&D fields), but will also make it possible to diversify the Group's production in the direction of ‘new and viable’ activities able to offer it a reservoir for growth between now and 2020.
Selleks, et abi andmist oleks võimalik lubada, tuleb ülalnimetatud päästmise ja ümberkorraldamise suuniste punktide 43–45 kohaselt veenduda, et toetuse suurus ja intensiivsus piirdub rangelt ettevõetavaks ümberkorraldamiseks vajamineva miinimumiga, pidades silmas äriühingu, selle osanike või seda hõlmava kontserni olemasolevaid rahalisi vahendeid.
In the opening decision, the Commission observed that BPF's difficulties were due to its interdependence with the PSA Group, which led the bank's financial rating to be downgraded by S&P on 14 February 2013 to BB+ (non-investment grade), even though the rescue aid had been approved.
Abisaajad peavad omavahenditest ümberkorralduskava oluliselt toetama, sealhulgas äriühingu säilimiseks ebaolulise vara müügi või turutingimustes toimuva välisfinantseerimise kaudu.
In their comments on the opening decision, the Commission considers that the French authorities have resolved its doubts as to the increase in BPF's balance sheet size and bad debt level.
Komisjon meenutab, et nagu on osutatud menetluse algatamise otsuse põhjendustes 246 ja 247, ei tekkinud tal kahtlusi kokkusobivuse selle tingimuse täitmise osas.
The Commission therefore reiterates the conclusion that it reached in the opening decision and that has not been contested by any of the interested parties, namely that the problem facing BPF is a problem of liquidity resulting solely from its link with the PSA Group.
Komisjon meenutab, et abisumma ulatus 571,9 miljoni euroni.
Consequently, in so far as the doubts as to the restoration of the Group's viability have been resolved, the same is considered to apply to BPF's viability plan.
Lisaks sellele leiab komisjon, et ümberkorraldamise jaoks miinimumiga piirduva abi nõudele vastavus on tagatud Prantsuse ametiasutuste võetud kohustusega hoiduda osaluste omandamisest põhjenduses 251 ja sellele järgnevates põhjendustes toodud tingimustel.
PREVENTION OF ANY UNDUE DISTORTION OF COMPETITION
Komisjon leiab, et see kohustus võimaldab vältida seda, et PSA kontsern kasutab võimalikke tema käsutuses olevaid finantsressursse muuks otstarbeks kui pikaajalise elujõulisuse taastamine.
EXAMINATION OF THE NEED FOR COMPENSATORY MEASURES
Seetõttu leiab komisjon, et tal ei ole vajadust muuta menetluse algatamise otsuses tehtud hinnangut vastavuse kohta ülalnimetatud päästmise ja ümberkorraldamise suuniste punktides 43–45 sätestatud kriteeriumidele.
Point 38 of the Rescue and Restructuring Guidelines states that, if restructuring aid is to be approved by the Commission, compensatory measures must be taken to minimise the adverse effects of the aid on trading conditions.
ÜHEKORDSE ABI PÕHIMÕTE
Failing that, the aid is to be regarded as ‘contrary to the common interest’ and therefore incompatible with the internal market.
Ülalnimetatud päästmise ja ümberkorraldamise suuniste punkti 72 ja sellele järgnevate punktide sätete kohaselt võib ümberkorraldusabi anda vaid üks kord kümneaastase perioodi kestel.
To meet this criterion, the presence that a firm may retain in its market(s) at the end of the restructuring period is often limited.
Prantsuse ametiasutused on 12. märtsi 2013. aasta teatises täpsustanud, et PSA kontsern ei ole saanud ümberkorraldusabi viimase kümne aasta jooksul.
By way of reminder, the French authorities initially proposed the following compensatory measures: further reductions of CAPEX (‘capital expenditures’), transferring capacity at the Sevelnord plant to a competitor, discontinuing the development and production of the hybrid plug-in technology and a measure setting a maximum penetration rate for BPF.
Seega on ülalnimetatud päästmise ja ümberkorraldamise suunistes sätestatud ühekordse abi põhimõte täidetud.
In the opening decision, the Commission was doubtful as to the characterisation of some of these measures as compensatory measures and their adequate nature in the light of their implementation conditions.
KOKKUVÕTE
At the end of this formal investigation procedure, the Commission takes the view that, at least as regards those measures already decided and implemented by PSA prior to the notification of the restructuring plan, the measures described in section 2.4.5 above cannot be characterised as ‘compensatory’ within the meaning of points 38 et seq. of the Rescue and Restructuring Guidelines, but are rather strategic choices ‘necessary in any case to restore the viability’ of the Group.
Võttes arvesse Prantsuse ametiasutuste võetud kohustusi, võib abi kuulutada siseturuga kokkusobivaks,
In their memorandum of 23 July 2013, however, the French authorities decided to withdraw all the compensatory measures notified on 12 March 2013, apart from the measure setting a maximum penetration rate for BPF, which is amended in the manner described in section 8.5.2 below.
ON VASTU VÕTNUD JÄRGMISE OTSUSE:
The Commission therefore takes note of this withdrawal and considers that it does not have to examine the following measures:
Artikkel 1
further reductions of CAPEX (‘capital expenditures’), in particular the discontinuation of production of the Citroën 6 — Peugeot 607 models, the discontinuation and non-renewal of the Bipper/Nemo model and the discontinuation of production of diesel engines of more than two litres;
Riigiabi, mida Prantsusmaa kavatseb anda PSA Peugeot Citroën SA kontsernile 7 miljardi euro suuruse riigi tagatise kujul (brutotoetusekvivalent 486 miljonit eurot), mis hõlmab Banque PSA Finances emiteeritud, kuni 31. detsembrini 2016 realiseeritavaid võlakirju ja 85,9 miljoni euro suurust tagastatavat avanssi teadus- ja arendusprojekti „50CO2Cars“ elluviimiseks, seega kokku 571,9 miljoni euro suuruse abisummat, on siseturuga kokkusobiv.
the transfer of capacity at the Sevelnord plant to a competitor; and
Kõnealuse riigiabi andmine on sellest tulenevalt lubatud.
the discontinuation of the development and production of the hybrid plug-in technology.
Artikkel 2
By way of ‘compensatory measures’, the Commission will therefore examine only the proposal by the French authorities to establish, from a threshold of [26-29]* %, a mechanism for increasing the cost of the guarantee in line with BPF's penetration rate.
Käesolev otsus on adresseeritud Prantsuse Vabariigile.
MECHANISM FOR INCREASING THE COST OF THE GUARANTEE IN LINE WITH BPF'S PENETRATION RATE
Brüssel, 29. juuli 2013
In the opening decision, the Commission observed that limiting the penetration rate appeared to be an appropriate way of limiting the impact on PSA's vehicle sales of financing support from BPF.
Komisjoni nimel
The Commission was doubtful, however, as to the real impact of this measure in the light of its implementation conditions.
Joaquín Almunia
PSA was in practice proposing a commitment not to exceed the 2012 H2 rate with a flexibility of + 1, i.e. a maximum rate of 33,4 %, in 2013 in each European country.
ELT C 275, 16.11.2007, lk 18.
This cap already appeared to include the rise that could be predicted for 2013, as the rate was 29,8 % in 2012.
ELT C 137, 16.5.2013, lk 10.
In 2014 and 2015, moreover, the French authorities were proposing that the penetration rate be aggregated for BPF's G10 perimeter in the previous year, adjusted by the change in the penetration rate of the comparable banks cited by PSA (captive banks of Renault, Ford, BMW, VW and Daimler) while making provision for a ‘threshold’ rate.
Keskmine turuosa suurus 29,8 % ei võimalda näha turuosa erinevusi eri segmentides.
The flexibility that this change would give PSA could lessen the constraining nature and therefore the effectiveness of this measure.
Eeskätt on turuosa suurem B- ja C-segmentides, kus turuosa suurus ületab 30 %, teatud riikide puhul isegi 40 %.
Questions remained as to the comparable banks proposed by PSA (as matters stood only the penetration rates of the captive banks of Renault and Volkswagen, whereas other producers such as Ford or Fiat were also close competitors).
Sõidukite ostude rahastamisega seotud tegevus tundub kõnealustes segmentides olevat esmatähtis.
As penetration rates vary greatly among countries, BPF could concentrate its loan capacity in those segments in which it had the largest presence and thus develop an aggressive commercial strategy vis-à-vis its competitors.
Konfidentsiaalne teave.
The French authorities replied to the Commission's arguments in their comments on the opening decision (see recital 173).
ELT C 244, 1.10.2004, lk 2.
They agreed in particular to broaden the scope of the comparable banks to include the captive banks of Fiat and Ford.
Ajakirjanduses avaldati teave riigi kavatsusest meedet rakendada 17. oktoobril 2012. aastal.
However, they stood by the principles of the mechanism proposed in the notification.
Prantsusmaa 7. jaanuaril 2013 esitatud dokumentides „Term sheets“ on märgitud: „Drawings to be subject to the favourable vote by the French parliament of the French State supporting plan (kava ülevõtmine rahastamise seadusesse)“ .
In their view, as regards the level of detail of penetration rates, no manufacturer gives details of its penetration rate by segment.
Vt kõnealuste ettevõtete nimekiri, mis kinnitati ülalnimetatud seaduse nr 2010-237 artikliga 8 ja 3. mai 2010. aasta dekreediga nr 2010-442.
They considered that the mechanism had to be flexible if BPF was to be able to adapt to market trends and did not entail any lessening of the effectiveness and constraining nature of this measure.
ELT C 78, 11.3.2011, lk 33.
The Commission takes note of the comment by the French authorities as to the potential flexibility introduced by the use of a global penetration rate for the compensatory measure imposed on BPF: as recital 177 above shows, […]* % of the financing granted by BPF concerns segments B and C and the following five countries: France, the United Kingdom, Germany, Spain and Italy.
Komisjoni määrus (EÜ) nr 800/2008, 6. august 2008, EÜ asutamislepingu artiklite 87 ja 88 kohaldamise kohta, millega teatavat liiki abi tunnistatakse ühisturuga kokkusobivaks (üldine grupierandi määrus) (ELT L 214, 9.8.2008, lk 3).
In the light of these statistics, the Commission considers that the compensatory measure is unlikely to be ineffective because the use of a global penetration rate allows too much flexibility.
Komisjon meenutab selle küsimuse kohta eeskätt, et teadusasutuste sõltumatu (mittemajandusliku) teadus- ja uurimistegevuse toetamist ei käsitleta riigiabina.
First, the Commission notes that, according to the French authorities, the compensatory measure in relation to the penetration rate is the ‘most targeted measure best able to remedy any distortions of competition resulting directly from the aid in the form of a guarantee to Banque PSA.
ELT C 323, 30.12.2006, lk 1.
Such a measure in practice makes it possible to take appropriate account of the link between the consequences of the grant of the State guarantee on the activity of Banque PSA and vehicle sales’ [53].
Vt eeskätt teadus- ja arendustegevuse ning innovatsiooni raamistiku punkti 2.1 viimane lõik: „Raskustes olevate ettevõtjate päästmiseks ja ümberkorraldamiseks antavat abi käsitlevate ühenduse suuniste mõttes raskustes olevatele ettevõtjatele teadus- ja arendustegevuseks ning innovatsiooniks antav abi on käesoleva raamistiku kohaldamisalast välja jäetud“.
The Commission also observes that all the manufacturers confirm in their comments that captive banks play a significant role in the financing of vehicle sales.
Üldise grupierandi määruse artikli 30 punktides 1, 2, 3 toodud tähenduses (mis langeb kokku teadus- ja arendustegevuse ning innovatsiooni raamistiku artikli 2.2 punktide e, f ja g sätetega).
Toyota stresses that a captive bank may improve customer brand loyalty by some 15 % and that the penetration rate is higher in the segments involving smaller models.
„50CO2Cars“ projekti kulud jagati üldise grupierandi määruse artikli 31 lõikes 5 määratletud teadus- ja arendustegevuse kategooriate vahel (mis vastavad teadus- ja arendustegevuse ning innovatsiooni raamistiku punktis 5.1.4 toodud kategooriatele).
Fiat considers that manufacturers' captive banks are extremely effective sales and marketing tools.
D- ja E-segmendid hõlmavad sõidukeid, mis kuuluvad klassidesse „peresõiduk“, „maanteesõiduk“, „mahtuniversaal“ ja „maastur“, mille pikkus Euroopas on keskmiselt 4,40 kuni 5 meetrit.
Fiat reiterates Toyota's comments as to their role in customer loyalty and adds that they also play an important role in supporting the sales process in particular by replacing the ‘traditional’ financing institutions which are withdrawing from this kind of loan.
Kõnealustesse segmentidesse kuuluvad mudelid on Peugeot 508 sedaan, 508 SW, 807, 4007 ja Citroėn C5 sedaan, C5 Break, DS5, C8, C-Crosser ja C6.
Fiat considers that the public guarantee granted to BPF will therefore have a direct, immediate and extremely negative impact on the PSA Group's competitors.
Energiasalvesti, elektriline jõuseade ja selle elektrooniline juhtseade ning pingemuundur, mis võimaldab kasutada kahe pingega võrku.
As the interested parties unanimously agree that captive banks play a central role in the financing of automotive manufacturers' sales and that the grant of the guarantee to BPF will have a particularly adverse direct effect on competition, the Commission considers that the measure to limit BPF's ability to use the public guarantee in order unduly to increase its financing capacity to the detriment of its competitors' captive banks not in receipt of public support is appropriate.
Nn Harbouri tootmisvõimsus on tööstuses kasutatav standard.
In the letter of commitments of 23 July 2013, the French authorities undertook to make the changes, described in section 7.2 above, to compensate for the distortion of competition created by the State guarantee to BPF.
Sellega tähistatakse sellise tehase tootmisvõimsust, mis töötab kahes vahetuses, vahetuse pikkus on 8 tundi ja aastas on 235 tööpäeva.
In order to limit the distortive effects on competition that the guarantee entails, and in order to provide BPF with a degree of flexibility allowing it react to potential market changes, the proposed commitment takes the form of additional remuneration of the guarantee in line with BPF's penetration rate.
Harbouri tase näitab igas tehases reaalselt toodetud sõidukite arvu Harbouri tootmisvõimsuse korral.
The principle of the commitment is as follows: the remuneration of the guarantee will be increased when BPF exceeds a threshold penetration rate of [26-29]* % in the G10 aggregate.
Keskpika tähtajaga kava kasutatakse PSA kontserni finantshaldamisel selleks, et esitada kontserni majandustulemuste prognoose järgnevateks aastateks.
The Commission notes that the perimeter of this aggregate (Germany, Austria, Belgium, Italy, Spain, the Netherlands, Portugal, Switzerland, France and the United Kingdom) appears to be the most representative of the European market indicators available [54].
Ingliskeelne lühend, mis tähistab väikest tarbesõidukit („Light Commercial Vehicles“).
Moreover, this mechanism seems to be an appropriate way of complying with the principle of compensatory measures (which are intended to minimise any distortion of competition) while ensuring that viability can be restored.
Prantsuskeelne lühend on „VUL“ (véhicule utilitaire léger).
By combining an increase in the penetration rate with an increase in the guarantee remuneration, BPF's ability to offer particularly attractive financing terms as a result of the guarantee will be limited to what is needed to ensure its viability, while minimising distortions of competition.
Tegemist on suhtarvuga, mis saadakse BPF panga rahastatud sõidukimüükide arvu jagamisel PSA kontserni kogumüügiga.
The Group will not pay remuneration above what its capital situation allows it to finance, since it will be able to keep the penetration rate at a level corresponding to a certain level of remuneration.
RCI Banque SA on 100 % ulatuses kontsernile Renault SAS kuuluv tütarettevõtja.
The remuneration will increase with the penetration rate up to 491 basis points (estimated market rate).
RCI Banque rahastab Renault kontserni ja Nissani kontserni sõidukite müüke.
Graph 2 below shows the link between PSA's remuneration of the guarantee and penetration rate (for more detailed figures, see Table 17 in recital 250 above).
Saksamaa, Austria, Belgia, Itaalia, Hispaania, Madalmaad, Portugal, Šveits, Prantsusmaa, Suurbritannia.
Link between the remuneration of the guarantee (in basis points) and the G10 penetration rate (%)
Piirkond M5 hõlmab järgmisi riike: Belgia, Madalmaad, Šveits, Austria ja Portugal.
Any examination of the impact of this measure has, inter alia, to include the theoretical penetration rate that PSA could achieve without aid (the ‘counterfactual penetration rate’).
Piirkond G10 hõlmab kümmet tabelis toodud riiki.
The Commission observes that without the State guarantee, the downgrading of BPF's rating and the reduction of its financing capacity would in turn reduce loan production and reduce automotive sales by [5-20]* % [55].
Makstava netosumma suurus oli 797 miljonit eurot, millele lisandusid erakorralised dividendid 100 miljoni euro ulatuses ja millest arvati maha 19 miljonit eurot, mis vastab omafinantseerimise brutomarginaali tühistamisele.
The turnover of PSA's automobile division achieved from financing by the captive bank is therefore, according to the French authorities, EUR [6000-7000]* million without aid and EUR [35000-40000]* million with aid (assuming an estimated fall of some [10-20] % in sales).
Core tier one on maksejõulisuse suhtarv, mis võimaldab hinnata pankade maksejõulisust.
These figures therefore show that BPF's theoretical penetration rate is some [15-20]* %.
See saadakse omavahendite ja varade kogusumma jagamisel (mis on kaalutud riskide alusel).
In other words, without the State guarantee, BPF's financing capacity would decrease to an extent that would significantly reduce its penetration rate.
See erinevus on praegu kolm Moody's pügalat (notches) ja see tuleneb BPFile tagatise andmisest.
Moreover, there would also be a parallel decline in sales volumes, bearing in mind the central role played by captive banks in vehicle sales.
Riiklik kutsealadevaheline tööstus- ja kaubandustööhõive ühing (Union nationale interprofessionnelle pour l'emploi dans l'industrie et le commerce).
According to the French authorities, such a decline would not enable viability to be restored, and would drag PSA into a vicious circle in which its own and BPF's ratings are repeatedly downgraded, thereby generating further losses for the Group.
Sotsiaalkindlustusvõlgade väljaostmise fond (Caisse d'amortissement de la dette sociale).
This counterfactual penetration rate makes it possible indicatively to quantify the lower level to be used to calibrate the compensatory measure.
Perspectives de l'économie mondiale (Maailmamajanduse perspektiivid), 1. ja 2. peatükk, aprill 2013.
This minimum has to be higher than the theoretical rate estimated at [15-20]* %.
Tegemist on CO2 heite vähendamisega, mis on seotud mootori mõõtmete vähendamisega ja mille puhul kasutatakse kohandatud ülelaadimisega mootorit.
The lower penetration rate also has to be lower than the current penetration rate ([29-31]* % for the G10 in 2012).
Komisjoni 1. detsembri 2004. aasta otsus kohtuasjas C-504/03, Bull, põhjendus 51; komisjoni 18. veebruari 2004. aasta otsus kohtuasjas C-28/02, Bankgesellschaft Berlin AG, põhjendus 236; 3. juuli 2001. aasta otsus kohtuasjas C-33/98, Babcock Wilcox Espana SA, põhjendus 98.
In practice, any compensatory measure is intended to minimise the impact of State aid on the beneficiary firm's competitors.
VAG kontsern esitles viimasel Viini kongressil oma hübriidtehnoloogia moodullahendust („assembly kit“), mis võimaldab hübriidsüsteemi minimaalsete kuludega kohaldada kontserni erinevatele sõidukiplatvormidele.
The State guarantee is already enabling BPF to maintain its current penetration rate (as is borne out by the counterfactual penetration rate).
Osutatud allikas: VAG kontserni esitlusaruanne 34.
Any compensatory measure taking the form of additional remuneration should therefore already apply to the current penetration rate.
Viini sümpoosionil 26. aprillil 2013, lk 28.
Thus, taking account of the penetration rate of [29-31]* %, the lower threshold of [15-20]* % described above, the probable upward trends described by the French authorities and the important role that captive bank financing plays in vehicle sales, the commitment to increase the remuneration of the State guarantee from [26-29]* % [56] is considered to be an adequate measure to minimise distortions of competition.
„Micro-hybridation“ vastab võimsusele 2–4 kW, „mild-hybridation“ võimsusele 8–15 kW ja „full hybridation“ võimsusele üle 20 kW.
Bearing in mind the current penetration rate, the commitment means that BPF will already have to increase the remuneration of the guarantee by some [40-50]* basis points (with the result that the State guarantee will be remunerated at some [300-310]* basis points rather than the 260 basis points set out in the initial Protocol concluded with the State).
Prantsusmaa ametiasutused kinnitavad, et majanduslikult vastuvõetavate tingimuste korral oleks PSA kontsern plug-in tehnoloogia juba välja arendanud.
If BPF wishes to increase this penetration rate, the remuneration will rise to the extent set out in Table 17 in recital 250 above [57].
Sõna „muuta“ on Prantsusmaa ametiasutuste esitatud dokumendi originaalis alla kriipsutatud.
If the penetration rate falls, the additional remuneration will also fall [58].
Prantsusmaa ametiasutused rõhutavad, et selline tootmise kontserni sisse toomine saab olla vaid osaline ja sõltub „50CO2Cars“ projekti tulemustest.
The commitment thus entails an immediate increase in the cost of the guarantee for BPF which will increase if PSA increases the proportion of vehicles financed by BPF in its total sales.
Sellele lisanduvad tollimaksud, mis Prantsusmaa hinnangul on küllalt kõrged.
The Commission therefore considers that this measure makes it possible to compensate for undue distortions of competition within the meaning of points 38 to 40 of the Rescue and Restructuring Guidelines.
„50CO2Cars“ projekti põhikomponendid on seotud diiselmootoritega.
Lastly, even though the European automotive sector appears to have structural excess capacity, the Commission is of the view that a further reduction of the PSA Group's production capacity is not the most appropriate solution in this particular case:
Samas nõuab projekti tulemuste ümberhäälestamine sama võimsusega bensiinimootorite jaoks „vaid mõõdukaid ja väga lühiajalisi teadus- ja arendustegevusega seotud investeeringuid“.
as mentioned in recital 49 above, the firm has already made significant structural efforts at its Aulnay and Rennes plants;
Osutatud allikas: http://www.pikeresearch.com/research/clean-diesel-vehicles.