natgillin/translations-raw huggingface dataset:
This inconsistency can, however, be explained in part by the fact that more than […] % of the workforce reduction (combined with production site closures) affects the United Kingdom.
To neskladje je mogoče razložiti z dejstvom, da zmanjšanje osebja za več kot […] % (skupaj z zaprtjem proizvodnje na nekaterih lokacijah) prizadene Združeno kraljestvo.
Alstom Transport recently encountered considerable difficulties in the United Kingdom, and the market outlook there is much less positive than in other countries.
Alstom Transport je pred kratkim v tej državi imel resne težave, pa tudi tržne napovedi niso tako pozitivne kot v drugih državah.
Other workforce reductions may have been planned in anticipation of the improvement in productivity resulting from industrial optimisation.
Drugo zmanjšanje sredstev je lahko načrtovano ob pričakovanju izboljšanja proizvodnje, ki je posledica optimizacije industrije.
In contrast with its assessment of the Transport and Power sectors, the Commission considers that the measures to be taken under the restructuring plan in the Marine sector are not sufficient to offset excess capacity in Alstom's shipyards.
V nasprotju z oceno v zvezi s sektorjema Transport in Power Komisija ocenjuje, da so dejavnosti, predvidene v načrtu prestrukturiranja za sektor Marine nezadostne za nadomestilo presežne zmogljivosti v Alstomovih ladjedelnicah.
The workforce reduction to be carried out under the restructuring plan is […] % (from […] to […] employees).
V tem načrtu je predvideno, da se bo število zaposlenih zmanjšalo za […] % (z […] na […] zaposlenih).
Production will be concentrated on the Saint-Nazaire shipyards, which are the main shipbuilding site, while other less important sites will be closed.
Proizvodnja bo skoncentrirana v ladjedelnici Saint-Nazaire, ki so glavna ladjedelnica, druge manj pomembne pa bodo zaprli.
Notwithstanding these measures, the Commission doubts that these restructuring measures will be sufficient to raise capacity utilisation rates at Alstom's shipyards to an acceptable level in 2006.
Kljub temu komisija dvomi, da bodo ta prizadevanja za prestrukturiranje zadostna za dvig stopnje uporabe Alstomovih ladjedelnic leta 2006 na raven, ki bo sprejemljiva.
The reasons for this analysis are set out in recitals 169 and 170.
Razlogi za to analizo so razloženi v uvodnih izjavah 169 in 170.
Although Alstom's Marine sector has the technical capacity to produce different types of vessel (cruise ships, LNG vessels, carriers, yachts, scientific and military vessels, etc.), it seems that future orders will probably be focused on demand for cruise ships.
Čeprav ima Alstomov sektor Marine tehnično zmogljivost za proizvodnjo različnih vrst ladij (potniške ladje, tankerji za utekočinjen zemeljski plin, tovorne ladje, jahte, raziskovalne in vojaške ladje, ipd.), se zdi, da se bodo prihodnja naročila osredotočila na povpraševanje po potniških ladjah.
The restructuring plan itself anticipates that new orders will come mainly from that market, while other types of vessel are not expected to figure prominently amongst orders received.
Načrt za prestrukturiranje predvideva, da bodo nova naročila prihajala v glavnem s tega trga, medtem ko za druge vrste ladij ni pričakovati večjega porasta naročil.
Current production capacity at the Saint-Nazaire shipyards is estimated at between five and six cruise ships a year.
Dejanska proizvodna zmogljivost ladjedelnice Saint-Nazaire je ocenjena na približno 5 do 6 potniških ladij na leto.
Some medium-term indicators suggest that, if Alstom maintains its current market share, it will receive orders for a maximum of three cruise ships a year for the period 2004 to 2006.
Nekatere srednjeročne napovedi navajajo tole: če Alstom vzdržuje trenutni tržni delež, bo v obdobju 2004 – 2006 prejel naročila za največ 3 potniške ladje na leto.
Even if production of other types of vessels were able to offset any lower level of orders for cruise ships than this maximum, this would probably not have any significant impact that would raise the total level of orders to more than three vessels (cruise ship equivalent) a year.
Čeprav proizvodnja drugih vrst ladij lahko nadomesti raven naročil za potniške ladje na nižji ravni, to najbrž ne bo bistveno vplivalo na dvig skupne ravni naročil na več kot tri plovila (ekvivalent potniškim ladjam) na leto.
In this context, the Commission welcomed France’s recent commitment that it would take the necessary measures as soon as possible, […], in order to reduce Alstom’s profitability threshold for shipbuilding from 4,5 ship order (cruise ship equivalents) a year (average for the last five years) to […].
V tem kontekstu je Komisija pozitivno sprejela obvezo Francije, da bo čimprej izvedla ukrepe, […], potrebne za zmanjšanje praga rentabilnosti Alstoma na področju za ladjedelništva s 4,5 naročil za ladje (ekvivalent potniškim ladjam) na leto (povprečje zadnjih petih let) na […].
The Commission considers that this additional measure […] is vital to ensure the long-term viability of this sector and that it must be implemented.
Komisija meni, da je to dodatno prizadevanje […] nujno za zagotavljanje dolgoročne sposobnosti za preživetje tega sektorja in da ga je treba izvajati.
Operational performance
Operativna zmogljivost
The Commission assessed in detail the forecasts resulting from the restructuring plan, both for orders and for operating revenue per sector.
Komisija je podrobno ocenila napovedi, ki izhajajo iz načrta prestrukturiranja, tako za naročila in operativni dohodek, za vsak sektor.
It checked that these aspects are in line with the forecasts established for each of the relevant markets.
Zato je preverila, ali so ti elementi v skladu z napovedmi za vsak zadevni trg.
The Commission considers that the forecasts for orders are in general realistic and that the forecasts for market shares and industrial growth are sufficiently prudent.
Komisija meni, da so napovedi v zvezi z naročili na splošno realne in da so napovedi za tržne deleže dovolj preudarne.
Two sectors, however, form an exception: Power Turbo-Systems and Marine.
Izjema sta le dva sektorja: Power Turbo-Systems in Marine.
Alstom’s Power Turbo-Systems business has suffered very heavy losses due to the serious dysfunctional problems in 2000 with the GT24/GT26 heavy-duty gas turbines, which are the main model in the range marketed by Alstom in this sector.
Alstomova dejavnost Power TurboSystems je leta 2000 zaradi resnih težav pri visoko zmogljivih plinskih turbinah GT24/GT26, ki predstavljajo najpomembnejši izdelek v ponudbi Alstoma v tem sektorju, imela velike izgube.
Work to improve the performance of the turbines has been carried out and commercial agreements concluded with dissatisfied customers.
Dela za izboljšanje delovanja turbin so bila že izvedena, z nezadovoljnimi strankami pa so bili sklenjeni trgovinski sporazumi.
France states that the turbines are at present problem-free and that an order for three turbines has just been placed by a Spanish firm, a factor which suggests that Alstom’s clientele has regained confidence in the quality and performance of the advanced turbines marketed by the group.
Francija navaja, da zadevne turbine danes v celoti delujejo in da je neko špansko podjetje naročilo tri turbine, tako bo Alstom strankam povrnil zaupanje v kakovost in zmogljivost visokotehnoloških turbin, ki jih skupina prodaja.
The Commission considers that there are sufficient positive factors confirming the renewed recovery in this sector.
Komisija meni, da obstaja zadostno število pozitivnih dejavnikov, ki potrjujejo ponoven nastop v tem sektorju.
It is established that Alstom has indeed carried out the necessary work to achieve the required performance specifications and that the disputes with dissatisfied customers are in the process of being resolved; the Commission also notes that the provisions set aside in the accounts to cover any residual risks are sufficient.
Dokazano je, da je Alstom izvedel dela potrebna za dosego pričakovanje zmogljivosti in da so spori z nezadovoljnimi strankami v postopku reševanja; Komisija med drugim opaža, da so določbe, ki vključujejo tveganja, zadostne.
At all events, the order for three turbines placed in December 2003 and mentioned by France demonstrates that the sector can recover its competitiveness.
V vsakem primeru naročilo treh turbin decembra 2003, ki ga omenja Francija, dokazuje, da si bo zadevni sektor povrnil konkurenčnost.
However, despite these encouraging signs, the Commission believes that France is overestimating Alstom’s capacity to win back market shares in the years ahead.
Vendar kljub tem opogumljajočim znakom Komisija ocenjuje, da Francija precenjuje sposobnost Alstoma, da si v prihodnjih letih pridobi tržni delež.
While Alstom’s market share should be in line with its average performance in the period 1992 to 2002, the Commission calculates a sensitivity factor (orders at risk) of around […] % of expected orders.
Pravzaprav, če bo tržni delež Alstoma usklajen s povprečno zmogljivostjo v obdobju od 1992 do 2002, je Komisija izračunala faktor občutljivosti (tvegane naložbe), ki je približno […] % pričakovanih naročil.
The Commission regards EUR […] worth of orders as being at risk, each year, in 2004/2005 and 2005/2006, out of EUR […] worth of expected orders.
Komisija meni, da je vsako leto tveganih naročil za […] EUR, leta 2004/2005 in 2005/2006, za […] EUR predvidenih naročil.
In the Marine sector, the Commission considers that the order forecasts under the restructuring plan are too optimistic, even assuming a long-term recovery in the cruise ship market and even allowing for the possibility for Chantiers de l'Atlantique to produce other types of high-tech vessels such as LNG carriers.
Za sektor Marine Komisija meni, da so predvidena naročila, ki izhajajo iz načrta prestrukturiranja, preveč optimistična, tudi ob upoštevanju dolgoročne obnovitve trga potniških ladij in omogoča možnost, da v Chantiers de l'Atlantique proizvajajo druge vrste visokotehnoloških zmogljivih ladij, kot so tankerji za utekočinjen zemeljski plin.
The restructuring plan therefore appears to be overoptimistic, and the Commission estimates that EUR […] worth of orders at risk are not covered by the corporate buffer.
Načrt za prestrukturiranje je posledično preveč optimistično zastavljen in Komisija meni, da tvegana naročila za […] EUR niso zajeta v varnostno rezervo.
The Commission analysed the company’s forecasts in terms of operating profit.
Komisija je analizirala napovedi podjetja v zvezi z operativnim prihodkom.
It considers that the objectives embodied in the restructuring plan should be achievable.
Ocenjuje, da je cilje iz načrta prestrukturiranja mogoče doseči.
Expectations in terms of operating result are sufficiently prudent to offset the overoptimistic forecasts in terms of orders.
Pričakovanja v zvezi z operativnim rezultatom so dovolj preudarna, da nadomestijo preveč optimistične napovedi v zvezi z naročili.
The Commission therefore considers that the overoptimism on orders should not have the effect of jeopardising Alstom’s operational profitability objective for 2006.
Komisija torej meni, da posledice te preveč optimistične napovedi ne morejo ogroziti Alstomovih ciljev za operativni dobiček v letu 2006.
Having analysed the other basic elements of the restructuring plan intended to demonstrate the soundness of Alstom’s operational profitability forecasts for 2006, the Commission considers that the forecasts are realistic.
Komisija je analizirala tudi druge temelje dejavnike načrta za prestrukturiranje, da je utemeljila primernost napovedi v zvezi z operativnim dobičkom Alstoma za leto 2006, in ocenjuje, da so napovedi realne.
Secondly, the Commission notes that the substantial losses caused by the major dysfunctional problems that occurred with the GT24/GT26 heavy-duty gas turbines were exceptional.
Drugič: Komisija je opazila, da so precejšnje izgube, ki so nastale zaradi resnih težav pri visoko zmogljivih plinskih turbinah GT24/GT26, le izjema.
Furthermore, agreements have been reached to end the litigation procedures with certain customers.
Poleg tega so bili sklenjeni tudi sporazumi, s katerimi so bili rešeni spori z nekaterimi strankami.
This type of difficulty, which is by its nature one-off, should not arise again in future.
Takšne vrste težav, ki se po značaju privzeto ne ponavlja, se v prihodnosti ne smejo ponoviti.
A third major factor is the forecast of continuing high profitability in areas which are already doing well and, in particular, in the Power Services division (operating margin of […] % expected for 2006).
Tretji pomemben dejavnik je predvidevanje vzdrževanja večje donosnosti na področjih, kjer je donosnost že dovolj visoka in, zlasti v oddelku Power Services (operativna marža za […] % za leto 2006).
These forecasts seem reasonable on the basis of the features of the relevant business sectors and their growth.
Te napovedi so ob upoštevanju značilnosti in rasti dejavnosti sektorja razumne.
In the light of these factors, the Commission concludes that the objective of 6 % operating margin at group level provided for in the restructuring plan for 2006 is achievable.
Ob upoštevanju teh dejavnikov je Komisija sklenila, da je cilj 6 % operativne marže na ravni skupine, kot je predvideno v načrtu prestrukturiranja za leto 2006, uresničljiv.
Return to long-term viability
Vrnitev k dolgoročni sposobnosti preživetja
The Commission examined whether the measures provided for by the restructuring plan will enable Alstom to restore its long-term viability.
Komisija je izvedla analizo, da bi ugotovila, če ukrepi, predvideni v načrtu prestrukturiranja, omogočajo Alstomu, da obnovi dolgoročno sposobnost preživetja.
As already indicated, the Commission considers that, at industrial level, the measures are in general sufficient to achieve the profitability objectives provided for in the plan.
Kot je bilo že navedeno, Komisija meni, da so na industrijski ravni ukrepi na splošno zadostni za doseganje ciljev donosnosti, predvidenih v načrtu.
In addition, there are positive signs indicating that the exceptional technical problems which resulted in very heavy specific losses in recent years have been solved.
Med drugim obstajajo pozitivni znaki, ki kažejo, da so izjemne tehnične težave, ki so v prejšnjih letih povzročile velike izgube, rešene.
However, the Commission continued to have doubts as to the effectiveness of the measures provided for in the restructuring plan to restore Alstom’s long-term financial soundness after March 2006.
Vendar Komisija še vedno dvomi v učinkovitost ukrepov iz načrta prestrukturiranja, ki bi po marcu 2006 povrnili dolgoročno finančno stabilnost.
The Commission was not therefore able to conclude that, at the end of the restructuring, the firm would be capable of acting on the market through its own resources, as required under the guidelines.
Komisija zato ne more sklepati, da bo podjetje do konca postopka prestrukturiranja na trgu sposobno poslovati z lastnimi sredstvi, kot to zahtevajo smernice.
The Commission’s doubts stemmed from the following analytical factors.
Dvomi Komisije temeljijo na naslednjih analitskih dejavnikih.
Firstly, an operating margin of 6 % in 2005/2006, corresponding to an operating profit of EUR […], did not seem to be a sufficient basis to ensure the firm’s long-term viability.
Najprej: operativna marža 6 % v letu 2005/2006, kar ustreza operativnemu dohodku […] EUR, ni zadostna osnova, ki bi zagotavljala dolgoročno sposobnost preživetja podjetja.
Under the restructuring plan, net profits in 2005/2006 were to be EUR […], or […] % of sales.
V skladu z načrtom prestrukturiranja bi moral biti čisti dohodek v letu 2005/2006 […] EUR oziroma […] % prodaje.
Moreover, the Commission estimated that the level of economic debt compared to equity remained too high in 2006: EUR […] in relation to EUR […]. This gave a debt/equity ratio (gearing ratio) of […].
Komisija nato ocenjuje, da je raven gospodarskega dolga glede na lastna sredstva v letu 2006 previsoka: […] EUR glede na […] EUR. To je ustvarilo razmerje med dolgovi/sredstvi (razmerje med najetimi dolgoročnimi posojili in lastnim kapitalom v višini […].
Consequently, Alstom would have had to earmark a very large percentage of its revenue to pay for the interest on its debt: financial charges would have been EUR […], while earnings before interest, taxes, depreciation and amortisation (EBITDA) would have had to total EUR […], i.e. an interest cover ratio of […].
Posledično bo moral Alstom velik del prihodka nameniti za pokritje obresti dolga.: finančni stroški bi bili […] EUR, dohodek, po odtegnitvi obresti, davkov, depreciaciji in amortizaciji (EBIDTA) skupaj […] EUR, to je stopnja kritja obresti za […].
Such a level clearly indicated a precarious financial situation that would be difficult to sustain in the long term.
Takšna raven jasno kaže na nestabilen finančni položaj, ki ga je dolgoročno težko vzdrževati.
In addition, the Commission considered that Alstom might lack the short-term financing capacity to meet liquidity requirements during the restructuring period.
Med drugim Komisija meni, da Alstomu manjka sposobnost kratkoročnega financiranja, ki bi pokrivalo likvidnostne potrebe podjetja med obdobjem prestrukturiranja.
In its assessment of Alstom’s liquidity plan, the consultant considered that the headroom (credit lines available minus credit lines already used) should be kept above EUR […], a level which the Commission considers sufficient, but only if there are no unforeseen difficulties.
Svetovalec v oceni načrta Alstomove likvidnosti meni, da je treba „headroom“ (kreditne linije, ki so na voljo, minus že uporabljene kreditne linije) vzdrževati nad […] EUR, raven, za katero Komisija meni, da je zadostna, vendar le ob odsotnosti nepredvidenih težav.
At all events, under the liquidity plan, the level of headroom was to be below the reference level of EUR […] during the first and second quarters of the year 2005/2006.
V vsakem primeru mora biti v skladu z likvidnostnim načrtom raven kreditne linije nižja od referenčne ravni […] EUR v prvem in tretjem trimestru leta 2005/2006.
Lastly, the Commission considered that it was necessary for Alstom to increase it equity in the medium term.
Komisija končno meni, da mora Alstom nujno povečati kratkoročna lastna sredstva.
Under the plan, the level of equity in 2006 was to be EUR […], or […] % of sales, while during the period 1998/2000 equity amount to 12 % of sales.
V skladu z načrtom bi morala biti raven lastnih sredstev v letu 2006 […] EUR oziroma […] % prodaje, medtem ko so v obdobju 1998/2000 lastna sredstva bila 12 % prodaje.
A sounder financial balance sheet than that anticipated for 2006 was deemed necessary for the firm to be able to attract investors and thus finance itself independently on the markets.
Bolj zanesljiva finančna bilanca od tiste, predvidene za leto 2006, je nujna zato, da podjetje lahko pritegne vlagatelje in se tako financira neodvisno od trga.
In conclusion, the Commission considered that Alstom’s restructuring plan remained unsatisfactory in financial terms, mainly because of the very high level of debt and very low level of equity.
Za zaključek, Komisija meni, da je načrt prestrukturiranja Alstoma nezadovoljiv zaradi finančnega načrta, zlasti zaradi visoke ravni zadolženosti in šibkih lastnih sredstev.
However, in May 2004, France informed the Commission that the firm was going to carry out a capital increase in cash and to convert part of its debt into capital.
Zato je maja 2004 Francija obvestila Komisijo, da bo podjetje povečalo kapital v gotovini in del dolgov preoblikovalo v kapital.
The two transactions will mean that equity will be between EUR […] and EUR […] and that debt will be between EUR […] and EUR […] in March 2006, depending on the degree of participation of banks in the conversion of claims into capital, corresponding to a sales percentage of […] % to […] %.
Ta dva postopka bosta omogočila, da bodo marca 2006 lastna sredstva znašala med […] in […] EUR in dolg med […] in […] EUR, odvisno od stopnje sodelovanja bank pri preoblikovanju zahtevkov v kapital, kar ustreza odstotku prodaje od […] % do […] %.
The ratio between debt and equity (gearing ratio) will be between […] and […] in 2006, which represents a sufficient improvement over the level in the forecasts made on the basis of the previous financial plan.
Razmerje med dolgovi in lastnimi sredstvi (razmerje med najetimi dolgoročnimi posojili in lastnim kapitalom) bo leta 2006 med […] in […], kar predstavlja zadostno izboljšanje glede na raven, predvideno v predhodnih finančnih načrtih.
Furthermore, the reduction in debt will mean a decrease in financial charges: in 2006, financial charges will be between EUR […] and EUR […]. On the basis of an EBITDA of EUR […], the interest cover ratio should be between […] and […], which indicates a sustainable financial situation.
Poleg tega zmanjšanje dolga pomeni tudi zmanjšanje finančnih stroškov: leta 2006 so bili med […] in […] EUR. Na podlagi EBIDTA […] EUR mora biti razmerje kritja obresti med […] in […], kar kaže na trden finančni položaj.
In conclusion, the new capital increase and the consequent reduction in debt largely allow the Commission’s doubts as to the firm’s medium-term viability to be removed.
Za zaključek, novo povečanje kapitala in posledično zmanjšanje dolga bo odpravilo dvome Komisije, povezane s srednjeročno sposobnostjo preživetja podjetja.
In addition, the Commission notes France’s commitment, referred to in part V, to conclude one or more industrial partnerships within a period of four years.
Med drugim bo Komisija opazovala obveznosti Francije, omenjene v delu V, pri sklepanju industrijskih partnerstev v roku štirih let.
They should involve structural and strategic agreements not limited to carrying out a specific project together, for example in response to a particular invitation to tender.
Zadevne industrijske dejavnosti so takšne, da partnerstvo na podlagi pravil o konkurenci, določenih v Pogodbi, odobri Komisija. Eno ali več partnerstev mora biti dolgoročnih.
In order to have a significant impact on Alstom's industrial and financial development, the partnership(s) should relate to a significant part of Alstom's activities in its core business sectors of transport and energy, in areas not involved in joint ventures (see recitals 206 and 207).
Treba je delovati v skladu s strukturnimi in strateškimi sporazumi, ki niso smejo omejeni na izvedbo določenega projekt, npr. sodelovanje na razpisu Da bi znatno vplivala na industrijski in finančni razvoj Alstoma, mora biti eno ali več partnerstev povezano z večjim delom Alstomove dejavnosti na ključnih področjih transporta in energije, na področjih, ki niso sestavni del skupnega podjetja (glej uvodni izjavi 206 in 207).
In conclusion, the partnerships should enable Alstom to make use of its technological and industrial assets by overcoming the financial constraints to which it is subject as regards the activities concerned [34].
Za zaključek morajo ta partnerstva omogočati Alstomu da potencira tehnične in industrijske prednosti tako, da zrahlja, za zadevne dejavnosti, finančne obveznosti, katerim je zavezan [34].
It should also be noted that the partnerships will be established, in principle and unless otherwise specifically authorised by the Commission, with firms that are not controlled by the French public authorities, de jure or de facto, individually or jointly.
Treba je spremljati, ali bodo partnerstva sklenjena, načeloma in brez izrecnega soglasja Komisije, s podjetji, v katerih francoska oblast nima nadzora, de jure ali de facto, posamezno ali skupno.
Otherwise, the partnerships might perpetuate the state’s involvement in the Alstom group, which would be in flagrant contradiction with the other commitment given by France, namely to put an end to the participation of the public authorities in Alstom’s capital and hence to the state aid which such participation entails.
Drugače lahko ta partnerstva v skupino Alstom vključijo državo, kar bi bilo v očitnem nasprotju z drugimi obveznostmi Francije, ki se je odrekla sodelovanju pri kapitalu Alstoma, tudi v obliki državnih pomoči, ki jih to sodelovanje vključuje.