natgillin/translations-raw huggingface dataset:
will perform all the other functions assigned to him in the letter of commitments of 23 July 2013;
Dodatočné zníženia CAPEX (v súvislosti s pôvodným strednodobým plánom na rok 2012) sú plánované vo výške 300 miliónov EUR v roku 2013 a 500 miliónov EUR ročne v rokoch 2014 a 2015.
will propose to the PSA Group any measures that he considers useful for compliance with the commitments set out in the letter of 23 July 2013;
Plán na roky 2013 – 2015 (CAPEX a výskum a vývoj) sa preto znížil z 9,9 miliardy EUR na 8,6 miliardy EUR, čo je pokles o 13 % medzi dvoma plánmi.
will furnish the European Commission, the French authorities and the PSA Group with a draft report within 30 days of each six-month period.
Skupina PSA vyčísľuje dôsledky tejto časti opatrenia na 40500 vozidiel, čo zodpovedá obratu 1,05 miliardy EUR.
The European Commission, the French authorities and the PSA Group may propose amendments within five working days.
Z dôvodu neobnovenia výroby týchto modelov by okrem toho PSA mohla ukončiť poskytovanie súvisiacich investícií od roku 2013 (zvyčajná doba na rozvoj nového vozidla je vo všeobecnosti tri roky).
The Independent Expert will then send his report to the European Commission and the French authorities.
Skupina PSA tiež prišla o hodnotnú dohodu z hľadiska dobrého mena značky, ktorá bola spojená s jej postavením ako partnera spoločnosti BMW.
He may then send his report to the PSA Group.
V pláne predloženom francúzskymi orgánmi sa nachádzajú finančné prognózy a plán financovania BPF do konca roka 2015.
In no case may he send his report to the French authorities or to the PSA Group before sending it to the European Commission.
Podľa francúzskych orgánov budú výnosy z vlastného kapitálu BPF [5 – 10]* % od roku 2014 a [10 – 20]* % v roku 2016.
If the Independent Expert's final report contains confidential information on the PSA Group, the Independent Expert may send it a non-confidential version.
Francúzske orgány pripomínajú, že podľa rozhodovacej praxe Komisie sa na dokázanie životaschopnosti banky za prijateľný výnos z vlastného kapitálu považuje výnos vo výške 8 – 12 %.
It will enable the European Commission to verify that the PSA Group is being managed in accordance with the obligations set out in the letter of commitments of 23 July 2013.
Cena bankového rizika vzrástla z […]* v roku 2011 na […]* v roku 2012.
If necessary, the European Commission may specify in further detail what it wishes to be included in the report.
Pochybné pohľadávky progresívne vzrástli z 3 % na konci roka 2008 na 4,2 % na konci roka 2012.
In addition to these reports, the Independent Expert will inform the European Commission with due diligence of any failure to comply with the commitments set out in the letter of 23 July 2013 that he may have cause to suspect, at the same time sending a non-confidential version of his letter to the PSA Group.
Tvrdia, že v predbežnom pláne sa uvádza predpoklad zachovania miery rozšírenia v miernom raste v porovnaní s mierou v roku 2011, a to až do roku 2017.
OBLIGATIONS INCUMBENT UPON THE PSA GROUP
Takýto vývoj vychádza z viacerých faktorov:
The PSA Group will provide, and ensure that its directors provide, subject to the rules of professional confidentiality, any cooperation, assistance and information that the Independent Expert may reasonably require from them in order to carry out his tasks under his mandate.
[10 – 14] %
The Independent Expert will have unrestricted access to all information, documents and archives and to all directors or employees of the PSA Group necessary for the performance of his tasks.
[9 – 13] %
If the PSA Group refuses to allow the Independent Expert to call on such consultants, the Commission may approve their appointment after hearing the PSA Group.
Fiat sa domnieva, že BPF by sa mohla financovať na sekundárnom trhu na základe „nového“ rozpätia 360/380 bázických bodov, keďže rozdiel dlhopisu skupiny PSA by bol približne 400 bázických bodov v prípade splatnosti v roku 2016.
Only the Independent Expert may issue instructions to these consultants.
Počas emisie 1,2 miliardy EUR krytej štátnou zárukou, ktorú BPF uskutočnila v marci 2013, zodpovedali celkové náklady na financovanie približne 270 bázických bodov.
REPLACEMENT, DISCHARGE AND APPOINTMENT OF A NEW INDEPENDENT EXPERT
Spoločnosť Fiat sa opiera najmä o vyhlásenia agentúry Standard and Poor's z 28. januára, 14. februára a 18. apríla 2013.
If the Independent Expert terminates his functions as described in the commitments set out in the letter of 23 July 2013 or for any other reason, for instance a conflict of interest concerning the Independent Expert:
Okrem toho Fiat zdôrazňuje, že sa všeobecne akceptuje, že už samotný prísľub poskytnutia záruky alebo akéhokoľvek financovania zlepšuje finančnú situáciu príjemcu, bez ohľadu na to, v akom rozsahu príjemca poskytnuté finančné prostriedky využije.
the Commission may, after hearing the Independent Expert, require the PSA Group to replace him;
Skupina PSA nepristúpi k účasti v iných podnikoch ani neuskutoční žiadne nadobudnutie aktív podnikov počas svojho plánu reštrukturalizácie, čiže do 31. decembra 2015.
the PSA Group may, with the Commission's approval, replace the Independent Expert.
Táto požiadavka sa netýka: i) nadobudnutia účasti alebo aktív podnikov, pokiaľ číselná suma zaviazaná skupinou PSA na realizáciu plánovaného nadobudnutia je nižšia ako 100 miliónov EUR ročne; a ii) nadobudnutia účasti v podniku alebo aktív podnikov po schválení zo strany Európskej komisie, ak je toto nadobudnutie nevyhnutné na zabezpečenie životaschopnosti skupiny PSA a umožňuje jej dosahovať ciele svojho plánu reštrukturalizácie.
The new Independent Expert will be appointed in accordance with the procedure described in section 1 of this Annex.
Toto vyčíslenie spočíva v interpolácii výnosov z dlhopisov BPF so splatnosťou troch rokov.
Subject to point (13) of this Annex, the Independent Expert may end his duties only after he has been discharged from them by the Commission, once he has fulfilled all the obligations incumbent upon him.
Verejné finančné prostriedky poskytnuté Francúzskom na projekt 50CO2Cars patria do rámca programu „budúcich investícií“ zavedeného zákonom o opravných financiách č. 2010-237 z 9. marca 2010.
However, the Commission may at any time require a new Independent Expert to be appointed if it were subsequently to emerge that the commitments set out in the letter of 23 July 2013 have not been fully and properly complied with.
Tým sa potvrdzuje štátny pôvod tohto opatrenia.
In that context, the French authorities undertook to notify a restructuring plan for the PSA Peugeot Citroën SA Group (‘PSA’ or ‘the Group’ or ‘the PSA Group’) and a viability plan for BPF in the six months following the rescue decision.
Tento projekt zahŕňa zastavenie výroby v Aulnay v roku 2014, prispôsobenie priemyselného zariadenia v závode v Rennes, opatrenia revitalizácie v závodoch Aulnay a Rennes a prispôsobenie štruktúr skupiny;
The Commission's decision to open the procedure (‘the opening decision’) was published in the Official Journal of the European Union on 16 May 2013 [2].
Táto hranica už zrejme zahŕňa nárast predpokladaný na rok 2013, vzhľadom na to, že v roku 2012 dosahovala táto miera hodnotu 29,8 %.
The Commission invited interested parties to submit their comments on the aid at issue.
Okrem toho na roky 2014 a 2015 francúzske orgány navrhli zlúčenie miery rozšírenia BPF v mierke G 10 za predchádzajúci rok, upravenej o odchýlku miery rozšírenia porovnateľných bánk uvádzaných PSA (kaptívne banky Renault, Ford, BMW, VW a Daimler), pričom by bola stanovená „spodná hranica“ tejto miery.
There were two further meetings between the same parties on 11 and 12 July 2013, and a telephone conference on 15 July 2013.
Ú. v.
Following these meetings, the French authorities furnished information by letter dated 16 July 2013, amended by letter dated 23 July 2013.
EÚ C 155, 20.6.2008, s.
Faurecia is an automotive equipment supplier in which PSA had a 57,18 % holding on 31 December 2012.
10.
In essence, it produces vehicle seats, interior systems, emission control technologies and vehicle exteriors.
Francúzske orgány zdôrazňujú, že výmenný kurz eura k jenu sa medzi rokmi 2009 a 2012 nepriaznivo zvýšil o približne 30 %, pričom sa opäť vyrovnal v období od konca roka 2012 do mája 2013.
Under Article 85 of the 2012 Amending Finance Law No 2012-1510 of 29 December 2012, the Minister for the Economy may authorise, against remuneration, a State guarantee for the securities issued by BPF between 1 January 2013 and 31 December 2016.
Z dôvodu tejto volatility náklady na dodanie automatických prevodoviek kolísali.
The guarantee covers BPF's new long-term bond market issues.
Nezávislý expert musí i) pomáhať Európskej komisii s cieľom overovať, či skupina PSA dodržiava povinnosti, ktoré jej vyplývajú z menovacieho dekrétu z 23. júla 2013; a ii) plniť úlohy, ktoré pre neho vyplývajú z uvedeného menovacieho dekrétu z 23. júla 2013.
It will therefore benefit the unsecured debt instruments issued by BPF after the date on which the Commission approves the implementation of the guarantee and at the latest on 31 December 2016.
Nezávislý expert musí vykonávať svoje úlohy podľa pracovného plánu schváleného Európskou komisiou, ktorý môže byť prípadne so súhlasom Európskej komisie zmenený.
These instruments will have a contractual term of a maximum of 36 months from their issue date.
Správa musí Európskej komisii umožniť overiť, že skupina PSA je riadená v súlade s povinnosťami uvedenými v dekréte z 23. júla 2013.
The public finance that France is planning to grant for the 50CO2Cars project is part of the ‘future investment’ programme established by the Amending Finance Law No 2010-237 of 9 March 2010.
V prípade potreby môže Európska komisia podrobnejšie spresniť, čo by správa mala obsahovať.
The Environment and Energy Management Agency (‘ADEME’) is one of the operators [9] commissioned by the State to manage the appropriations channelled into future investment.
Bežný prevádzkový hospodársky výsledok skupiny sa prejavil stratou 576 miliónov EUR v porovnaní s pozitívnym výsledkom 1,093 miliardy EUR v roku 2011.
The French authorities have submitted the PSA Group business plan to 2017.
Náklady na prispôsobenie priemyselného zariadenia závodu v Rennes, ktoré povedie k prerozdeleniu 1400 pracovných miest z celkového počtu 5600 zamestnancov, sa odhadujú na [100 – 200]* miliónov EUR na obdobie 2012 – 2017.
The plan is based on assumptions of the size of the European market and PSA's market shares.
Prispôsobenie štruktúr skupiny PSA prostredníctvom GPEC 1 a 2 („Gestion prévisionnelle de l'Emploi et des Compétences - Predbežné riadenie zamestnanosti a zručností“) povedie k celkovým nákladom odhadovaným na [500 – 600]* miliónov EUR na rok 2012 a 2013.
In a ‘favourable’ scenario, PSA Group sales in Europe increase by some 100000 vehicles per annum from 2013.
[6 – 8]
According to the business plan notified, the ordinary operating income of the PSA Group overall, in the unfavourable scenario as well, is positive from 2014 (some [1-5]* % of the PSA Group's turnover), and reaches [2-6]* % in 2017.
[8 – 10]
It should nevertheless be borne in mind that the PSA Group forecasts show a high growth of turnover outside Europe, i.e. in growth markets.
[10 – 12]
Further reductions (over and above the initial 2012 MTP) in CAPEX are planned: EUR 300 million in 2013 and EUR 500 million per year in 2014 and 2015.
[28 – 33]
The 2013-2015 (CAPEX and R&D) plan has therefore been revised down from EUR 9,9 billion to EUR 8,6 billion, i.e. a reduction of 13 % from one plan to the other.
[31,6 – 36,6]
The non-renewal commitment in relation to the Citroën C6/Peugeot 607 models covers the period 2016-18.
[33,1 – 38,1]
The PSA Group estimates the impact of this strand of the measure at 40500 vehicles, i.e. a turnover of EUR 1,05 billion.
[26,5 – 31,5]
The non-renewal of these models will also enable PSA to discontinue its allied investment from 2013 (the normal period for the development of a new vehicle is generally three years).
[29 – 34]
According to the French authorities, the PSA Group has the industrial resources to produce such engines, especially the EURO 6 version of the DW12 engine.
[34,4 – 39,4]
In contrast to its competitors, it does not have petrol engines of more than two litres (its petrol engines are limited to 1,6 litre turbo).
[20,4 – 25,4]
According to the French authorities, by ending the JV, the PSA Group will permanently withdraw from a segment considered to be promising and will lose access to around 6 % of the market by 2016.
[21,6 – 26,6]
The PSA Group will also lose an agreement that is valuable in terms of the brand image that its status as a partner of BMW gives it.
[22,7 – 27,7]
Proposed maximum rate* Germany […] + 1,0 […]
[18,9 – 23,9]
The plan submitted by the French authorities contains financial projections and a financing plan for BPF to the end of 2015.
[25,5 – 30,5]
According to the French authorities, BPF's return on equity will be [5-10]* % from 2014 and [10-20]* % in 2016.
[29,1 – 34,1]
They point out that, according to the Commission's decision-making practice, the return on equity considered acceptable to demonstrate the viability of a bank is in the range of 8 to 12 %.
[20 – 25]
BPF plans to increase its long-term bank financing by EUR [0-5]* billion by the end of 2012 to EUR [5-10]* billion by the end of 2015.
[17,8 – 22,8]
The bank has also launched a deposit product for individuals, which will provide financing of EUR [800-900]* million in 2015 according to the financial projections (in comparison with zero at the end of 2012).
[18,5 – 23,5]
The bank's risk cost increased from […]* in 2011 to […]* in 2012.
[20,6 – 25,6]
Bad debts rose progressively from 3 % at the end of 2008 to 4,2 % at the end of 2012.
[20,9 – 25,9]
They point out that the forecast plan assumes that the penetration rate will continue to increase slightly from 2011 up to 2017.
[22,2 – 27,2]
This increase is based on a number of factors:
[12,4 – 17,4]
[10-14] %
[28,6 – 33,6]
[9-13] %
[0,0 – 2,5]
PSA has also submitted projections of net indebtedness in a more stressed scenario in which PSA Group sales fall (in comparison with the median scenario) by a further 200000 vehicles per annum in Europe from 2013.
[20,7 – 25,1]
The net indebtedness levels in the various scenarios are presented in Table 14 below.
[19,2 – 24]
If the industrialisation plan were ultimately to be successful, the 50CO2Cars project technology would offer a major reservoir for growth in an emerging market by 2020.
[14,6 – 19,6]
Grasping the opportunity to capitalise on the potential outlets for diesel mild-hybrid engines at the end of the restructuring plan would make it possible to secure turnover by diversifying into a promising segment which is part and parcel of the Group's core business (mass produced vehicles).
[24,6 – 29,6]
Fiat considers that BPF could finance itself in the secondary market with a ‘new’ differential of 360/380 basis points as it would be aware that the differential of a PSA Group bond would be some 400 basis points for a 2016 maturity.
[25,9 – 30,9]
At the time of the EUR 1,2 billion issue covered by the State guarantee that BPF made in March 2013, the total financing cost was approximately 270 basis points.
[24,9 – 29,9]
Fiat refers in particular to the statements made by Standard and Poor's on 28 January, 14 February and 18 April 2013.
[26,7 – 31,7]
Fiat stresses, moreover, that it is widely accepted that a commitment to grant a guarantee or any financing necessarily improves the beneficiary's financial situation whatever the level of drawdown of the financing made available.
[29,6 – 34,6]
The Corrective Measures, including updated cash flows for the PSA Group, are to be notified to the European Commission together with the opinion of an Independent Expert, as defined in section 7.6 below, within one month of publication of the audited consolidated annual accounts, showing that the Net Debt of the PSA Group has exceeded ceiling ‘A’ for the corresponding year.
[25,1 – 30,1]
It is the Commission's task to check that the anticipated financial effects of these Corrective Measures have been appropriately quantified and do not jeopardise the PSA Group's viability.
[25,4 – 30,4]
The PSA Group will refrain from acquiring any holding in other enterprises or acquiring any business assets throughout the term of its restructuring plan, i.e. up to 31 December 2015.
[26,8 – 31,8]
This commitment does not cover: (i) the acquisition of holdings or business assets when the monetary amount paid by the PSA Group for the planned acquisition is less than EUR 100 million per annum; and (ii) the acquisition of a holding in an enterprise or business assets, following approval by the European Commission, if such acquisition is necessary to ensure the PSA Group's viability and to enable it to achieve the objectives of its restructuring plan.
[30,6 – 35,6]
In the notification of 12 March 2013, the French authorities quantified the aid element at between EUR 453 and 480 million for a maximum guarantee amount of EUR 7 billion in principal.
[150 – 180]
These figures were based on an interpolation of BPF's bond yields for a three-year maturity.
[180 – 210]
In the light of the facts presented in recitals 105 and 106 of the opening decision as to the existence of a liquidity surplus ranging from EUR [1-3]* billion to EUR [2-4]* billion in a stressed scenario in run-off management, the Commission considers that the amount of aid does not exceed the advantage in terms of bond issue price quantified as EUR 486 million in the State guarantee of EUR 7 billion in principal in recital 33.
[260 – 330]*
This is the advantage that the Group receives if its activity is continued.
[50 – 110]*
In practice, the public financing granted by France to the 50CO2Cars project is part of the ‘future investment’ programme established by the Amending Finance Law No 2010-237 of 9 March 2010.
[300 – 400]*
The PSA Group had a turnover of EUR 55,4 billion in 2012.
[90 – 120]
Table 1 below shows trends in the Group's turnover over the last five years.
[120 – 150]
Commission Decision (EU) 2016/2069
Rozhodnutie Komisie (EÚ) 2016/2069
concerning measures SA.14093 (C76/2002) implemented by Belgium in favour of Brussels South Charleroi Airport and Ryanair
o opatreniach SA.14093 (C 76/2002), ktoré vykonalo Belgicko v prospech letiska Brussels South Charleroi a leteckej spoločnosti Ryanair
(notified under document C(2014) 6849)
[oznámené pod číslom C(2014) 6849]
Having regard to the Treaty on the Functioning of the European Union, and in particular the first subparagraph of Article 108(2) thereof [1],
so zreteľom na Zmluvu o fungovaní Európskej únie, a najmä na jej článok 108 ods. 2 prvý pododsek [1],
Having called on interested parties to submit their comments pursuant to the above Articles [2], and having regard to these comments,
po vyzvaní zainteresovaných strán, aby predložili pripomienky v súlade s uvedenými článkami [2], a so zreteľom na tieto pripomienky,
Following information published in the Belgian press in July 2001 and the receipt of a complaint in January 2002, the Commission was informed that Belgium had granted aid measures to the airline Ryanair Ltd (hereinafter ‘Ryanair’) for the operation of air services at Charleroi Airport.
Na základe informácií uverejnených v belgickej tlači v júli 2001 a po prijatí sťažnosti v januári 2002 sa Komisia dozvedela, že Belgicko poskytlo leteckému dopravcovi Ryanair Ltd (ďalej len „Ryanair“) opatrenia pomoci na prevádzkovanie služieb leteckej dopravy na letisku Charleroi.
In letters dated 21 November 2001, 13 June 2002 and 4 July 2002, and in a meeting held on 9 October 2002, Belgium provided information on this subject to the Commission.
V listoch z 21. novembra 2001, 13. júna 2002 a 4. júla 2002 a na stretnutí 9. októbra 2002 Belgicko poskytlo Komisii informácie o tejto téme.
In a letter dated 11 December 2002 [3] (hereinafter ‘opening decision’), the Commission informed Belgium of its decision to initiate the procedure provided for in Article 108(2) TFEU (hereinafter ‘formal investigation procedure’) in respect of these measures.
Listom z 11. decembra 2002 [3] Komisia informovala Belgicko o svojom rozhodnutí začať proti týmto opatreniam konanie (ďalej len „rozhodnutie o začatí konania“) podľa článku 108 ods. 2 ZFEÚ (ďalej len „formálne vyšetrovacie konanie“).
Belgium submitted its comments on 14 February 2003.
Belgicko predložilo svoje pripomienky 14. februára 2003.
The opening decision was published in the Official Journal of the European Union [4].
Rozhodnutie o začatí konania bolo uverejnené v Úradnom vestníku Európskej únie [4].
The Commission invited interested parties to submit their comments on the measures in question within one month of the publication date.
Komisia vyzvala zainteresované strany, aby do jedného mesiaca od dátumu uverejnenia predložili svoje pripomienky k predmetným opatreniam.
It forwarded the comments to Belgium by letters dated 19 March and 22 April 2003.
Listami z 19. marca a 22. apríla 2003 Komisia poslala tieto pripomienky Belgicku a umožnila mu vyjadriť sa k nim.
Belgium was given the opportunity to respond to them.
Listami zo 16. a z 27. mája 2003 bolo Komisii doručené vyjadrenie Belgicka.
At the request of the Commission, three meetings were held with the Belgian authorities on 24 June 2003, 23 July 2003 and 25 July 2003.
Belgické orgány v liste požiadali o ďalšie stretnutie s Komisiou.
These meetings were followed by the dispatch of additional information on 27 August 2003, as requested by the Commission.
Toto stretnutie sa uskutočnilo 16. januára 2004.
On 19 December 2003 Belgium sent a letter containing additional information to the Commission.
Komisia prijala čiastočne negatívne konečné rozhodnutie 12. februára 2004 [5] (ďalej len „rozhodnutie z roku 2004“).
In this letter, the Belgian authorities requested another meeting with the Commission; this meeting was held on 16 January 2004.
Toto rozhodnutie bolo zrušené rozsudkom Všeobecného súdu zo 17. decembra 2008 [6] (ďalej len „rozsudok z roku 2008“), ktorým sa Komisii uložila povinnosť prijať nové konečné rozhodnutie o predmetných opatreniach.
On 12 February 2004 the Commission adopted a partly negative final decision [5] (hereinafter ‘2004 decision’).
Všeobecný súd konštatoval, že keďže Komisia spoločne nepreskúmala opatrenia, ktoré poskytol spoločnosti Ryanair región Valónsko (ďalej len „región“) a správca letiska Charleroi – akciová spoločnosť Brussels South Charleroi Airport (ďalej len „BSCA“) –, a neoverila, či sa tieto dva subjekty posudzované spoločne správali ako rozumné hospodárske subjekty v trhovom hospodárstve, došlo k nesprávnemu právnemu posúdeniu.
This decision was annulled by judgment of the General Court of 17 December 2008 [6] (hereinafter ‘2008 judgment’), obliging the Commission to take a new final decision on the measures in question.
Rozsudkom z roku 2008 sa stanovilo opätovné začatie formálneho vyšetrovacieho konania, ktoré sa uzavrelo v roku 2004 prijatím konečného rozhodnutia.
The 2008 judgment had the effect of reopening the formal investigation procedure, which had been closed by the 2004 decision.
Rozhodnutie o rozšírení konania z roku 2012 bolo uverejnené v Úradnom vestníku Európskej únie [7].
In a letter dated 23 July 2010, the Commission gave Belgium, and the parties having submitted comments in the formal investigation procedure initiated on 11 December 2002, the opportunity to submit further comments in the formal investigation procedure reopened following the 2008 judgment.
Komisia vyzvala zainteresované strany, aby predložili svoje pripomienky k predmetným opatreniam.
At the request of the Commission made on 20 April 2011, the Belgian authorities sent further information in letters dated 14 July and 21 September 2011.
Dňa 9. augusta 2012 Komisia požiadala o doplňujúce informácie, najmä pokiaľ ide o náklady spoločnosti Société Wallonne des Aéroports (ďalej len „SOWAER“) v dôsledku investícií do letiska Charleroi a jej služieb v prospech spoločnosti BSCA.
The 2012 extension decision was published in the Official Journal of the European Union [7].
Dňa 26. októbra 2012 Komisia po stretnutí požiadala Belgicko o doplňujúce informácie.