natgillin/translations-raw huggingface dataset:
By letter dated 1 December 2005, the Belgian authorities also stated that ‘given the unfavourable trend of the market in Germany, and taking the requirements in the Commission's guidelines into account, ABX is working on a plan allowing it to reduce [...] the scope of its domestic road transport activities in Germany.
V dopisu z dne 1. decembra 2005 so belgijski organi med drugim navedli, da „zaradi neugodnega razvoja trga v Nemčiji in ob upoštevanju zahtev Smernic Evropske komisije ABX pripravlja načrt, s katerim bi lahko zmanjšal [...] območje svojih dejavnosti nacionalnega cestnega prevoza v Nemčiji.
The plan has not yet been finalised.
Ta načrt še ni izpeljan.
ABX Logistics can, however, give the Commission a commitment that by [...] it will reduce its domestic road courier service in Germany through closures, disposals or partnerships, with the goal of reducing the current number of agencies (30) controlled by ABX to [...].
Vendar se ABX LOGISTICS pri Evropski komisiji lahko obveže, da bo pred [...] svojo mrežo nacionalnega cestnega prevozništva v Nemčiji zmanjšal z zaprtji, prenosi ali partnerstvom(-i), s ciljem, da se število agencij, ki jih nadzoruje ABX in ki jih je trenutno 30, zmanjša za [...] agencij.
ABX could, moreover, remain a [...] shareholder in about [...] of the [...] sites.’
Poleg tega bi ABX lahko še naprej ostal delničar [...] okrog [...] poslovalnic [...].“
Productivity gains. According to the information communicated by the Belgian authorities, the operational restructuring measures in Germany will generate an improvement (theoretical, at constant turnover) in ABX Germany's operating margin of some EUR 14,6 million.
Povečanje produktivnosti: Po podatkih, ki so jih poslali belgijski organi, se bo z operativnimi ukrepi prestrukturiranja v Nemčiji operativna marža za ABX-Nemčija izboljšala (teoretično glede na stalni promet) za okoli 14,6 milijona EUR.
Expected results. The application of all these measures should, according to the business plan, restore ABX-D to operational viability from 2006 (EBIT of EUR [...] million) and to net viability from 2007 (net profit of EUR [...] million).
Pričakovani rezultati: Z uporabo vseh teh ukrepov bi se po poslovnem načrtu (business plan) po letu 2006 morala ponovno vzpostaviti operativna sposobnost preživetja ABX-D (dobiček pred obrestmi in davki v višini [...] milijonov EUR), njegova neto sposobnost preživetja pa po letu 2007 (čisti poslovni izid v višini [...] milijonov EUR).
Measures specific to ABX Netherlands
Posebni ukrepi za ABX Nizozemska
Operational measures. Apart from the operational restructuring measures described in the initiation of the procedure, the disposals of subsidiaries and activities, closures of agencies and subsidiaries, and productivity gains will result in an overall reduction of 4 sites (- 44 %), EUR 14 million in turnover (- 21 %), 93 FTE staff (- 22 %) and 18400 m2 in surface area (- 28 %).
Operativni ukrepi: Poleg operativnih ukrepov prestrukturiranja, opisanih ob uvedbi postopka, bodo tudi dodatni ukrepi prenosov hčerinskih družb in dejavnosti, zaprtje agencij in hčerinskih družb ter povečanje produktivnosti povzročili skupno zmanjšanje za 4 poslovalnice (-44 %), za 14 milijonov EUR prometa (-21 %), za 93 zaposlenih za polni delovni čas (-22 %) in za 18400 m2 območje poslovanja (-28 %).
Productivity gains. According to the information communicated by the Belgian authorities, the operational restructuring measures in the Netherlands will generate an improvement (theoretical, at constant turnover) in ABX Netherlands' operating margin of some EUR 5,7 million at the latest by the return of the group to viability, expected for 2006-2007.
Povečanje produktivnosti: Po podatkih, ki so jih poslali belgijski organi, se bo z operativnimi ukrepi prestrukturiranja na Nizozemskem operativna marža za ABX na Nizozemskem izboljšala (teoretično glede na stalni promet) za okoli 5,7 milijona EUR, in sicer najpozneje do ponovne vzpostavitve sposobnosti preživetja skupine, predvidene v obdobju 2006–2007.
Financial restructuring. SNCB plans to convert a debt of EUR 10 million and interest of EUR 0,6 million into capital, as soon as these measures have been approved by the Commission.
Finančno prestrukturiranje: SNCB načrtuje, da bo po odobritvi Komisije 10 milijonov EUR dolga in 0,6 milijona EUR obresti pretvorila v kapital.
This capital contribution should enable ABX-NL to bring its equity level at 31 December 2004 up from — EUR 1,3 million (since updated to — EUR 1,5 million) to EUR 9,3 million. According to the Belgian authorities, such a total is needed for ABX-NL in order to bring about the proposed privatisation of ABX-WW.
Ta kapitalski vložek mora ABX-NL omogočiti, da svojo raven lastnega kapitala do 31. 12. 2004 z -1,3 milijona EUR (medtem posodobljeno na -1,5 milijona EUR) vrne na 9,3 milijona EUR. Po izjavah belgijskih organov je takšen skupni znesek potreben za ABX-NL, da bi lahko uresničili predvideno privatizacijo ABX-WW.
Expected results. The application of all these measures should, according to the business plan, restore ABX-NL to operational viability from 2005 (EBIT of EUR [...] million) and to net viability from 2006 (net profit of EUR [...] million).
Pričakovani rezultati: Z uporabo vseh teh ukrepov bi se po poslovnem načrtu (business plan) po letu 2005 morala ponovno vzpostaviti operativna sposobnost preživetja ABX-NL (dobiček pred obrestmi in davki v višini [...] milijonov EUR), njegova neto sposobnost preživetja pa po letu 2006 (čisti poslovni izid v višini [...] milijonov EUR).
Divestiture of domestic road activity in France
Umik dejavnosti „road domestic“ v Franciji
The Belgian authorities stated that, faced with the difficulties of ABX-F, regarded as critical for the viability of the whole ABX group, SNCB was divesting the domestic road activities of ABX France through an MBO. Since the MBO was described in detail when the procedure was extended, it is only pointed out here briefly that the domestic activities of ABX-F were sold in an MBO at a negative market price of EUR [...] million.
Belgijski organi so navedli, da se je SNCB zaradi težav, s katerimi se je srečeval ABX-F in ki so veljale za kritične, ker bi lahko ogrozile sposobnost preživetja celotne skupine ABX, z odkupom podjetja s strani zaposlenih odpovedala dejavnosti notranjih cestnih prevozov ABX-Francija.
The sale became effective on 31 March 2005 at midnight.
Ker so bili odkupi podjetij s strani zaposlenih podrobno opisani že v razširitvi postopka, naj tukaj samo na kratko spomnimo, da so bile notranje dejavnosti ABX-F prodane z odkupom podjetja s strani zaposlenih pod tržno ceno v višini [...] milijonov EUR. Ta prodaja je začela veljati 31. 3. 2005 opolnoči.
The other activities of ABX-F were transferred to ABX-WW.
Druge dejavnosti ABX-F so se prenesle na ABX-WW.
Two auditing firms, Deloitte and Ernst & Young Transaction Advisory Services, reached the conclusion that the negative sale price of EUR [...] million for the domestic division of ABX-F is appropriate and represents a market value.
Dva izvedenca, Deloitte in Ernst & Young Transaction Advisory Services, sta prišla do zaključka, da je negativna prodajna cena v višini [...] milijonov EUR za domačo divizijo ABX-F primerna in ustreza tržni vrednosti.
According to the Belgian authorities, ‘SNCB decided not to continue with its investment in ABX France: the recapitalisation measures notified in February 2003 will not be implemented.
Po mnenju belgijskih organov „se je SNCB odrekla svojemu nadaljnjemu vlaganju v ABX-Francija: ukrepi dokapitalizacije, kot so bili priglašeni februarja 2003, ne bodo izvedeni.
The measures concerning France — including the MBO — were part of a rationale of controlled, socially responsible disengagement, allowing more than 2300 jobs to be saved.
Ukrepi, ki zadevajo Francijo – vključno z odkupom podjetja s strani zaposlenih – so postali del prekinjenega, a obvladanega in odgovornega procesa v socialnem načrtu, kar naj bi omogočilo rešitev več kot 2300 delovnih mest.
‘Therefore, while the divestiture in France may be considered to be part — in the broad sense — of the restructuring of the ABX Logistics group, the activities of ABX Logistics in France are not being restructured in the same sense as the measures notified for Germany and the Netherlands’.
„Čeprav torej lahko smatramo, da je umik iz Francije – v širšem smislu – del prestrukturiranja skupine ABX Logistics, pa ne gre za prestrukturiranje dejavnosti ABX LOGISTICS v Franciji v smislu ukrepov, ki so bili priglašeni za Nemčijo in Nizozemsko“.
Selection of an MBO
Odločitev za odkup podjetja s strani zaposlenih
It should be noted that with regard to the domestic part of ABX's activities the Belgian authorities compared the MBO scenario (management buyout) with a voluntary liquidation scenario and concluded that the MBO was the less costly solution.
Naj opozorimo, da so belgijski organi primerjali scenarij odkupa podjetja s strani zaposlenih za domači del dejavnosti ABX s scenarijem sporazumne likvidacije in sklenili, da bi bil odkup podjetja s strani zaposlenih cenejša rešitev.
When it extended the procedure, the Commission questioned this reasoning, saying that it would also be pertinent to compare the MBO with a compulsory liquidation scenario, on the grounds that a private investor placed in a comparable position would seek the least costly solution, without excluding a court-ordered liquidation if this should prove more attractive economically.
Komisija je v svoji razširitvi postopka takšno sklepanje postavila pod vprašaj in navedla, da bi bilo treba izvesti tudi ustrezno primerjavo med odkupom podjetja s strani zaposlenih in scenarijem prisilne likvidacije, ker naj bi zasebni vlagatelj v primerljivem položaju iskal rešitev, ki bi bila zanj najcenejša, pri čemer ne bi izključil morebitne sodne likvidacije, če bi bila ta z ekonomskega vidika najzanimivejša.
The Belgian authorities maintain that a court-ordered liquidation would in any event be more expensive than the MBO and also that, despite the Commission's doubts, the comparison with a voluntary liquidation is not only socially more responsible, but is still the pertinent comparison, for the reasons summarised below.
Belgijski organi zatrjujejo, da bi bila sodna likvidacija vsekakor dražja od odkupa podjetja s strani zaposlenih, kot tudi, da je primerjava s sporazumno likvidacijo kljub dvomom Komisije ne samo socialno odgovornejša, ampak je ustrezna zaradi spodaj povzetih razlogov.
Cost of the different scenarios
Stroški različnih scenarijev
Negative equity at 30/9/2004
Negativen lastni kapital na dan 30. 9. 2004
Losses expected in last quarter 2004
Pričakovane izgube v zadnjem trimesečju 2004
Negative equity estimated at 31/12/2004
Ocenjen negativen lastni kapital na dan 31. 12. 2004
Of which, debt to SNCB
Od katerega dolg do SNCB
Reductions in value of intangible assets
Zmanjševanja vrednosti nemateralnih sredstev
Capital gain on sale of Contract Logistics to MGF, not yet recorded
Še nevknjižen presežek iz prodaje Contract Logistics MGF
Capital gain on transfer of Eurocargo, Air&Sea, Mitjavile and Lacombe
Presežek iz prenosa Eurocargo, Air&Sea, Mitjavile in Lacombe
Finalisation of current redundancy programme (PSE4) — 2004 expenditure
Dokončanje tekočega socialnega načrta (PSE4) – odhodki 2004
Coverage of losses 2005 for activities not included in the MBO
Kritje izgub 2005 za dejavnosti, ki niso vključene v odkup podjetja s strani zaposlenih
Cash impact for SNCB before choice of divestiture scenario
Vpliv na denarna sredstva za SNCB pred izbiro scenarija umika
(Negative) transfer price — maximum
Prenosna cena (negativna) – največja
Coverage of losses during redundancy programme negotiation period — 2005
Kritje izgub v obdobju pogajanj o socialnem načrtu – 2005
Coverage of losses for 4 extra months — 2006 (risk)
Kritje izgub v dodatnih 4 mesecih – 2006 (tveganje)
New redundancy programme for remaining staff
Novi socialni načrt za zaposlene, ki ostanejo
Termination of lease contracts
Prekinitev zakupnih pogodb
Termination of other contracts
Prekinitev drugih pogodb
Risk […] for SNCB […]
Tveganje […] SNCB […]
Commercial debts to suppliers at 31.12.2004
Poslovne obveznosti do dobaviteljev na dan 31.12.2004
Company's debts to staff
Socialne obveznosti do zaposlenih
Redundancy programme for staff of ABX France
Socialni načrt za zaposlene v ABX-France
Compensation of creditors — Leases
Nadomestilo škode upnikom – Zakupne pogodbe
Compensation of creditors — Other contracts
Nadomestilo škode upnikom – Druge pogodbe
Risk of the SNCB guarantee being used for debts to Soc.
Tveganje za poziv k jamstvu SNCB za dolgove do Soc.
Loss of value of the ABX LOGISTICS group
Izguba vrednosti skupine ABX LOGISTICS
Cost of additional redundancies following drop in volume
Stroški dodatnih odpuščanj zaradi zmanjšanja obsega
Impact on the need for operating capital
Vpliv na potrebo po gibljivih sredstvih
Impact on cost of financing SNCB's bank debt
Vpliv na strošek financiranja bančnega dolga SNCB
Impact on cost of financing bank debt of ABX LOGISTICS
Vpliv na strošek financiranja bančnega dolga ABX LOGISTICS
Total cost SNCB
Skupni strošek SNCB
As for the difference in cost between the MBO and the voluntary liquidation (basically the cost of a redundancy programme for the remaining staff and the coverage of losses while the programme was being negotiated), the Belgian authorities state that this was verified and confirmed by Ernst & Young.
Kar zadeva razliko med stroški odkupa podjetja s strani zaposlenih in stroški sporazumne likvidacije (v glavnem stroški socialnega načrta za zaposlene, ki ostanejo, in kritja izgub v obdobju pogajanj o tem načrtu), belgijski organi navajajo, da je le-to potrdila družba Ernst & Young.
The accounting firm concluded as follows: ‘… we conclude that on an overall level the price differential between the scenario of the Management Buy-Out and the scenario of the Liquidation of Domestic Road Transport Activities amounting to EUR 45,5 million to be fair and reasonable’.
Njeni strokovnjaki so sklenili: „… we conclude that on an overall level the price differential between the scenario of the Management Buy-Out and the scenario of the Liquidation of Domestic Road Transport Activities amounting to € 45,5 million to be fair and reasonable“ („Na podlagi tega sklepamo, da je cenovna razlika med scenarijem odkupa podjetja s strani zaposlenih in scenarijem likvidacije dejavnosti notranjega cestnega prevoza, ki znaša 45,5 milijona EUR, v splošnem poštena in razumna“).
According to the Belgian authorities, the cost of the court-ordered liquidation is much higher than the net assets of ABX France at the time when the transaction was effected (i.e. — EUR [...] million) on account of:
Po mnenju belgijskih organov bi bili stroški sodne likvidacije veliko večji od neto vrednosti sredstev, ki jih je imel ABX-France ob izvajanju dejavnosti (in sicer -[...] milijonov EUR), zaradi:
the risk for SNCB [...];
tveganja za SNCB [...]
the loss of customers that would result from the deterioration of ABX's image, and the impact of that loss on the value of the ABX Logistics Worldwide group;
vpliva izgube strank, ki bi bila posledica poslabšanja podobe ABX, in vpliva takšne izgube na vrednost skupine ABX LOGISTICS Worldwide,
the costs of making staff redundant who had become surplus following the loss of customers;
stroškov odpuščanja presežnih delavcev zaradi izgube strank,
the impact on the group's need for working capital, and
vpliva na potrebo po gibljivih sredstvih skupine, in
the impact on the cost of financing the ABX Logistics group and SNCB itself following a default by one of their subsidiaries.
vpliva na stroške financiranja skupine ABX LOGISTICS in same SNCB zaradi neplačila ene od njunih hčerinskih družb.
Risk of [...] (EUR [...] million). According to the Belgian authorities, ‘the scenario of a court-ordered liquidation would expose SNCB to a [...] risk that would call its responsibility into question.
Tveganje v višini [...] ([...] milijonov EUR): Po mnenju belgijskih organov„bi scenarij sodne likvidacije za SNCB pomenil tveganje[...], ki bi potegnilo za seboj njeno odgovornost.
The Belgian authorities also cite as an example a recent decision [...].
Belgijski organi kot primer navajajo tudi nedavno odločbo [...].
The Belgian authorities consider that ‘the Commission should confine itself to ascertaining the existence of the risk and its plausibility, and to establishing that, faced with that risk, a private operator would have probably sought, in the same situation, to avoid a court-ordered liquidation and opted for a voluntary liquidation.
Belgijski organi menijo, da „se mora Komisija omejiti na ugotavljanje obstoja tveganja in njegove verjetnosti in ugotoviti, da bi se zaradi takšnega tveganja zasebni subjekt v enakem položaju najverjetneje skušal izogniti sodni likvidaciji in se odločil za sporazumno likvidacijo.
The French law firm Grand, Auzas et Associés drew SNCB's attention to this risk at the end of 2004 and confirmed its analysis of it in writing.
Francoska odvetniška pisarna Grand, Auzas et Associés je konec leta 2004 SNCB opozorila na takšno tveganje in svojo analizo tega tveganja pisno potrdila.
Similarly, the law firm Linklaters informed the Belgian authorities that if ‘[...] [...]’.
Tudi odvetniška pisarna Linklaters je belgijskim organom navedla, da če „[...] [...]“.
If SNCB [...], the Belgian authorities consider that it should have at least financed a redundancy programme for the remaining 1300 employees, i.e. at a cost of EUR [...] million, and compensated the creditors of ABX France (EUR 8 million for the property creditors and EUR 6 million for the others).
Če SNCB [...], belgijski organi menijo, da bi morala financirati vsaj socialni načrt za 1300 zaposlenih, ki bodo ostali, kar je strošek v višini [...] milijonov EUR, in plačati odškodnino upnikom ABX-France (za 8 milijonov EUR za nepremičninske upnike in 6 milijonov EUR za druge upnike).
Loss of value for the ABX group following the loss of customers (EUR 112 million). The Belgian authorities consider that a court-ordered liquidation of the domestic road activity in France would have caused a serious and permanent deterioration in the group's image and reputation and entailed a loss of customers detrimental to the group as a whole.
Izguba vrednosti skupine ABX zaradi izgube strank (112 milijonov EUR): Belgijski organi menijo, da bi sodna likvidacija dejavnosti „road domestic“ (notranjih prevozov) v Franciji močno in trajno poslabšala podobo in ugled skupine ter povzročila izgubo strank, kar bi negativno vplivala na celotno skupino.
Their estimate of the loss of value for the ABX group is given in the table below.
Njihova ocena izgube vrednosti skupine ABX je prikazana v spodnji razpredelnici.
The Belgian authorities consider that the loss of turnover would have been partly compensated by the immediate disappearance of the direct transport costs.
Belgijski organi menijo, da bi se izguba prometa delno nadomestila s takojšnjo odpravo neposrednih prevoznih stroškov.
But the indirect costs (structural costs) could have been reduced only gradually (by staff redundancies in proportion to the volume of activities lost) over a three-year period in order to return to the situation prior to the application for a court-ordered liquidation.
Vendar bi se posredni stroški (strukturni stroški) lahko zmanjševali le postopoma (z odpuščanjem zaposlenih sorazmerno z obsegom izgubljenih dejavnosti) v triletnem obdobju, da bi se vrnili na položaj pred sodno likvidacijo.
The impact of the loss of customers on operating profit (EBIT) would have been greatest, therefore, in the first year and would have declined in the following two years until the return to the situation prior to the application for a court-ordered liquidation.
Vpliv izgube strank na rezultat poslovanja (dobiček pred obrestmi in davki) bi bil torej največji prvo leto, v naslednjih 2 letih pa bi se zmanjševal vse do ponovne vzpostavitve položaja pred sodno likvidacijo.
Reduction in the value of the group due to the decline in volume following the court-ordered liquidation of ABX LOGISTICS France S.A.
Zmanjšanje vrednosti skupine zaradi zmanjšanja obsega po sodni likvidaciji ABX LOGISTICS France S.A
EUR million, based on the forecasts available at end 2004
Milijoni evrov na podlagi napovedi, ki so bile na voljo konec leta 2004
In France
V Franciji
Road International France
Road International Francija
Budgeted gross margin
Bruto dobiček, predviden v proračunu
Loss of customers in %
Izguba strank v % (ponderirano povprečje)
Estimated impact on EBIT
Ocenjen vpliv na dobiček pred obrestmi in davki
Air&Sea France
Air&Sea Francija
Outside France
Zunaj Francije
Road Germany
Road Nemčija
Air&Sea Germany
Air&Sea Nemčija
Road Domestic Netherlands
Road Domestic Nizozemska
Road Domestic Belgium
Road Domestic Belgija
Other countries and product lines
Druge države in linije proizvodov
In this respect the Belgian authorities also stated that, according to the Court of Justice of the European Communities, ‘It must … be accepted that a parent company may also, for a limited period, bear the losses of one of its subsidiaries in order to enable the latter to close down its operations under the best possible conditions.
Glede tega so belgijski organi tudi navedli, da je po mnenju Sodišča Evropskih skupnosti „sprejemljivo (…), da tudi matična družba lahko za omejeno obdobje krije izgube svojih hčerinskih gospodarskih družb in jim s tem omogoči prenehanje njihovega obratovanja v najboljših možnih pogojih.
Such decisions may be motivated not solely by the likelihood of an indirect material profit but also by other considerations, such as a desire to protect the group' s image or to redirect its activities’.
Take odločitve lahko upravičuje ne le možnost za neposredne materialne koristi, temveč tudi drugi razlogi, kot na primer želja po zavarovanju zunanje podobe skupine ali želja po preusmeritvi njihovih dejavnosti“.
Costs of shedding staff who had become redundant following the fall in volume (EUR [...] million). As indicated above, the Belgian authorities assumed that the indirect costs could have been gradually reduced by layoffs over a three-year period in order to return to equilibrium.
Stroški odpuščanja presežnih delavcev zaradi zmanjšanja obsega ([...] milijonov EUR): Kot je navedeno zgoraj, so belgijski organi domnevali, da bi bilo mogoče posredne stroške v treh letih postopno zmanjševati z odpuščanjem, da bi tako znova dosegli ravnovesje.
The estimates adopted by the Belgian authorities are approximately 1000 layoffs (i.e. some 550 persons in Germany, 200 in France, 100 in Belgium and 200 in the rest of the world).
Belgijski organi predvidevajo okoli 1000 odpustov (in sicer okoli 550 oseb v Nemčiji, 200 v Franciji, 100 v Belgiji in 200 drugje po svetu).
The potential extra cost of financing is estimated at 100 basis points (1 %) for the bank debt of ABX Logistics (about EUR 240 million) and at 50 basis points for the bank debt of SNCB (about EUR 900 million) not assumed by the Belgian state.
Morebitni dodatni stroški financiranja se ocenjujejo na 100 baznih točk (1 %) za bančni dolg ABX LOGISTICS (okoli 240 milijonov EUR) in na 50 baznih točk za bančni dolg SNCB (okoli 900 milijonov EUR), ki ga Belgija ni prevzela.
On the premise that the extra cost would be neutralised over three years, the Belgian authorities consider that the extra cost of financing SNCB's debt would therefore be about EUR 14 million and that of financing the debt associated with ABX Logistics would be about EUR 7 million.
Ob predpostavki, da bi se ti stroški v treh letih nevtralizirali, belgijski organi ocenjujejo, da bi dodatni stroški, povezani s financiranjem dolga SNCB, tako znašali okoli 14 milijonov EUR, dodatni stroški, povezani s financiranjem dolga ABX LOGISTICS, pa okoli 7 milijonov EUR.
Other considerations put forward by the Belgian authorities
Druge ugotovitve, ki so jih izpostavili belgijski organi