natgillin/translations-raw huggingface dataset:
They argue that the new company Biria has to be viewed as the legal successor to the two former companies from which it emerged.
Novo podjetje Biria je treba obravnavati kot pravnega naslednika obeh prejšnjih podjetij, iz katerih je tudi nastalo.
In their opinion, the opening balance of the newly created company is not meaningful.
Začetna bilanca novega podjetja po njunem mnenju ni verodostojna.
It is claimed that the two guarantees violated the ‘one time–last time’ principle as the economic activities of the companies forming the Biria Group could be sustained only with repeated state support.
Dodelitev obeh jamstev naj bi bila v nasprotju z načelom enkratnosti pomoči, saj bi bilo gospodarsko dejavnost podjetij skupine Biria mogoče ohranjati le z državno podporo.
No compensatory measures were taken to offset adverse effects on competitors.
Sprejeti niso bili nobeni kompenzacijski ukrepi, ki bi izravnali negativne učinke na konkurenco.
No restriction was placed on the market presence of the Biria Group.
V zvezi s prisotnostjo skupine Biria na trgu ni bilo vzpostavljenih nobenih omejitev.
Instead, the plan of the Biria Group is to expand its activities further through an aggressive pricing policy.
Nasprotno, načrt te skupine je bil še naprej širiti dejavnost z agresivno cenovno politiko.
On its homepage Biria announced planned sales of 850000 bicycles in 2005, which would have implied a further increase in sales compared with 2004.
Biria je na svoji domači spletni strani napovedala, da želi leta 2005 prodati 850000 koles in tako prodajo v primerjavi z letom 2004 še povečati.
Prophete and Pantherwerke also point out that, according to a press release, the owner of Biria AG has sold the business to the Lone Star Group, a private equity fund.
Prophete in Pantherwerke opozarjata tudi na sporočilo za javnost, v katerem je navedeno, da je lastnik Birie AG posel prodal zasebnemu delniškemu skladu Lone Star.
In its comments on the initiation of the formal investigation procedure, Vaterland-Werke GmbH & Co. KG (Vaterland-Werke) points out that, with a total production of between 700000 and 800000 bicycles, the Biria Group is the largest bicycle manufacturer in Germany.
Vaterland-Werke GmbH & Co. KG (Vaterland-Werke) v svoji pripombi k sprožitvi formalnega postopka preiskave navaja, da je skupina Biria s celotno proizvodnjo 700000 do 800000 izdelanih koles največji proizvajalec koles v Nemčiji.
Vaterland-Werke and Biria are both active in the non-specialised trade, which includes sales by the larger retail chains and catalogue sales by large mail order companies.
Vaterland-Werke in Biria sta prisotna v tržnem segmentu nespecializirane trgovine, ki vključuje tudi velike maloprodajne verige in velika podjetja za kataloško prodajo.
There is fierce competition in the market and Biria is known as an aggressive competitor selling at below production costs.
V tem segmentu vlada zelo huda konkurenca in Biria je znana po svojem agresivnem delovanju, saj so njene cene nižje od proizvodnih stroškov.
Such behaviour is possible only because of external financing sources, i.e. in the case of Biria because of state aid.
Takšno ravnanje je mogoče samo ob prisotnosti zunanjih finančnih virov, v primeru Birie zaradi državnih pomoči.
This situation threatens the existence of all small competitors that do not receive state aid.
To ogroža obstoj vseh manjših konkurentov, ki ne prejemajo državne pomoči.
Vaterland-Werke is particularly affected and free capacities cannot be filled with alternative work orders.
Še zlasti je ogroženo podjetje Vaterland-Werke in prostih zmogljivosti ni mogoče izkoristiti z drugimi naročili.
It concludes that, in a market with surplus capacities, any capacity extension undertaken by a producer with the help of state aid imposes a burden on other competitors.
Ker so na trgu presežne zmogljivosti, bi vsaka razširitev zmogljivosti proizvajalca s pomočjo državnih subvencij pomenila škodo za drugega konkurenta.
As regards the silent participation, Vaterland-Werke has doubts that, in view of the economic situation of Bike Systems in March 2001, a private investor would have acquired such a participation.
V zvezi s tiho udeležbo je Vaterland-Werke podvomil, da bi glede na gospodarski položaj podjetja Bike Systems marca 2001 kateri izmed zasebnih vlagateljev privolil v takšno udeležbo.
As regards the two guarantees for Sachsen Zweirad GmbH and Biria in 2003 and 2004, Vaterland-Werke regards them as not being compatible with the Community rules on state aid.
Dodelitev obeh jamstev za Sachsen Zweirad GmbH in Birio v letih 2003 in 2004 je po mnenju Vaterland-Werke nezdružljiva s pravili Skupnosti o državni pomoči.
It takes the view that the companies were in difficulty at the time the guarantees were provided.
Upravičeni podjetji sta bili v času dodelitve jamstev v težavah.
It argues that the new company Biria has to be viewed as the legal successor to the two former companies from which it emerged.
Novo podjetje Biria je treba obravnavati kot pravnega naslednika obeh prejšnjih podjetij, iz katerih je tudi nastalo.
In its opinion, the opening balance of the newly created company is not meaningful.
Začetna bilanca novega podjetja po njunem mnenju ni verodostojna.
Vaterland-Werke also points out that, according to a press release, the owner of Biria AG has sold the business to the Lone Star Group, a private equity fund.
Vaterland-Werke opozarja tudi na sporočilo za javnost, v katerem je navedeno, da je lastnik Birie AG posel prodal zasebnemu delniškemu skladu Lone Star.
In its comments on the initiation of the formal investigation procedure, Germany argues that the silent participation by gbb was provided on market conditions.
Nemčija v svojih pripombah glede sprožitve formalnega postopka preiskave zastopa stališče, da je bila tiha udeležba gbb-ja izvedena pod tržnimi pogoji.
It agrees with the Commission that the risk attaching to a silent participation is higher than that attaching to a traditional bank loan.
Nemčija se strinja s Komisijo, da je s tiho udeležbo povezano tudi večje tveganje kot pri običajnem posojilu.
Nevertheless, it argues that the conditions of the silent participation are such that the provisions of the Commission notice on the method for setting the reference and discount rates [5] were complied with.
Vendar pa so pogoji tihe udeležbe oblikovani tako, da je treba izpolnjevati določbe Obvestila Komisije o metodi določanja referenčnih obrestnih mer in diskontnih stopenj [5].
According to the notice, the reference rate is a floor rate which may be increased in situations involving a particular risk.
V skladu s tem obvestilom je referenčna obrestna mera najnižja mera, ki pa jo je v primerih velikega tveganja mogoče povišati.
In such cases, the premium may amount to 400 basis points or more.
V tem primeru lahko pribitek znaša 400 baznih točk ali več.
Germany points out that the remuneration for the silent participation amounts to 12.25 % (8.75 % fixed and 3.5 % depending on the realisation of profits).
Po navedbah Nemčije znaša nadomestilo za tiho udeležbo 12,25 % (8,75 % fiksnega in 3,5 % odvisnega od dobička).
The remuneration is thus 600 basis points above the Commission's reference rate of 6.33 %. gbb thus took into account the fact that the company was going through a period of restructuring and that the risk attaching to the silent participation was therefore higher as a result of the company's reorganisation and the lack of collateral.
Tako bi nadomestilo znašalo 600 baznih točk več kot referenčna obrestna mera Komisije, ki znaša 6,33 %. Gbb je upošteval, da je bilo podjetje v fazi prestrukturiranja in da je bilo zato tveganje, povezano s tiho udeležbo, zaradi nove usmeritve podjetja in pomanjkljivega zavarovanja povečano.
This increased risk is reflected in the additional premium of 200 basis points.
To dodatno tveganje se odraža v dodatku v višini 200 baznih točk.
In addition, Germany argues that the decision to provide the silent participation was taken on the basis of a forecast indicating an increase in company turnover from EUR 0.89m in 2001 to EUR 3.38m in 2003.
Odločitev glede tihe udeležbe je nadalje temeljila na napovedi, po kateri naj bi se promet podjetja z 0,89 milijona EUR leta 2001 povečal na 3,38 milijona EUR v letu 2003.
It therefore concludes that the agreed remuneration for the silent participation of 12.25 % was an appropriate reflection of the associated risk.
Nemčija je zato mnenja, da je dogovorjeno nadomestilo za tiho udeležbo v višini 12,25 % primerno glede na s tem povezano tveganje.
In its view, the fact that part of the remuneration is variable is irrelevant as this is common in the case of silent participations and corresponds to the behaviour of a market economy investor.
Nemčija zastopa stališče, da dejstvo, da je del nadomestila spremenljiv, ni sporno, saj je to pri tihi udeležbi običajno in ustreza ravnanju tržno usmerjenega vlagatelja.
As regards the guarantee for Sachsen Zweirad GmbH, Germany argues that the company was not in difficulty at the time it was provided and that the company did not show any of the typical signs of a company in difficulty as defined by the Community Guidelines.
Glede jamstva za Sachsen Zweirad GmbH Nemčija navaja, da podjetje v času dodelitve jamstva ni bilo v težavah in da ni kazalo nobenega izmed značilnih znakov podjetja v težavah v smislu Smernic Skupnosti.
Among other things, the company had positive own capital of EUR 404m for 2003 (until the merger with Biria in October 2003) and generated a profit of EUR 2.1m. Its economic situation had improved in 2003 compared with 2001/2002 thanks to consolidation efforts launched at the end of 2002 and to an improved market situation.
Med drugim je podjetje leta 2003 (do oktobrske združitve z Birio) razpolagalo s pozitivnim lastnim kapitalom v višini 404 milijonov EUR in imelo dobiček v višini 2,1 milijona EUR. Gospodarsko stanje podjetja se je leta 2003 v primerjavi z 2001/2002 izboljšalo zaradi uveljavljenih konsolidacijskih prizadevanj konec leta 2002 in ugodnejših razmer na trgu.
Germany points out that, although the company's liquidity situation was difficult, it was not ‘serious’.
Likvidnost podjetja je bila sicer slaba, vendar pa še ni bila „kritična“.
There had been no danger that the private banks would not extend their credit lines.
Nevarnost, da zasebne denarne ustanove ne bi podaljšale kreditov, ni obstajala.
Moreover, high interest payments would not have led to liquidity problems as claimed by the Commission.
Tudi visoke obresti ne bi povzročile likvidnostnih težav, kot je trdila Komisija.
As regards the guarantee for Biria GmbH (now Biria AG), Germany points out that the basis for it was the new plan of the Biria Group for streamlining its organisation and concentrating procurement, production responsibilities and distribution at Biria GmbH.
Nemčija navaja, da je bilo jamstvo za Birio GmbH (ki je med tem postala Biria AG) dodeljeno na podlagi novega načrta skupine Biria, ki je predvideval racionalizacijo organizacije skupine in koncentracijo nabave, proizvodnih odgovornosti in prodaje pri Birii GmbH.
Apart from the financing needed to increase turnover, the plan also included a reorganisation of group financing.
Poleg potrebe po financiranju za povečanje prihodkov je načrt vključeval tudi reorganizacijo financiranja skupine.
Germany claims that Biria GmbH (now Biria AG) was not in difficulty at the time the guarantee was provided.
Po mnenju Nemčije pri Birii GmbH (zdaj Biria AG) v času dodelitve jamstva ni šlo za podjetje v težavah.
In its view, a distinction has to be made between Biria AG as was and the new Biria AG.
V zvezi s tem je treba razlikovati med staro in novo Birio AG.
The latter can be considered in difficulty only if it had inherited the difficulties of the old company (in the event of there being any).
Novo podjetje je kot podjetje v težavah mogoče obravnavati le v primeru, če je podedovalo težave starega podjetja (če je staro podjetje imelo težave).
This is, however, not the case with the new Biria AG, which resulted from a merger of Sachsen Zweirad GmbH and Biria as was.
Temu pa v primeru nove Birie AG ni bilo tako. Nova Biria AG je nastala z združitvijo stare Birie AG in podjetja Sachsen Zweirad GmbH.
Sachsen Zweirad AG, which was not in difficulty, dominated the merger economically.
Sachsen Zweirad GmbH, ki nikakor ni bil v težavah, je bil ob združitvi gospodarsko močnejši.
It cannot therefore be automatically assumed that the new Biria AG would be in difficulty.
Zato ni mogoče samodejno domnevati, da je bila nova Biria AG v težavah.
Even if Biria AG as was had been in difficulty, the merger with Sachsen Zweirad GmbH would have meant that the new Biria AG would not automatically have found itself in difficulty.
Tudi če bi stara Biria AG bila v težavah, združitev s Sachsen Zweirad GmbH ne bi samodejno pomenila, da se nova Biria AG nahaja v težavah.
Germany also explained that the withdrawal by one of the private banks from the financing operation was due to a revamping of the bank's strategy following a merger.
Nemčija tudi opozarja, da je umik zasebne denarne ustanove iz financiranja podjetja temeljil na strateški prenovi banke zaradi združitve.
The other two banks ended their involvement at the same time at this private bank.
Preostali denarni ustanovi sta svoje obveznosti zaključili ob istem času kot ta zasebna banka.
This cannot however, be seen as a sign of a lack of confidence as one of the banks still provided financing for two separate projects.
Vendar tega ni mogoče označiti kot znak izgubljenega zaupanja, saj je ena denarna ustanova nato financirala dva posamezna projekta.
Germany points out that the merger of Sachsen Zweirad GmbH and Biria AG was not designed to circumvent the state aid rules and classification of the company as a company in difficulty but was the consequence of a new plan for the group.
Nemčija opozarja, da združitev Sachsen Zweirada GmbH in Birie AG ni bila namenjena izogibanju pravilom glede državnih pomoči in uvrstitvi podjetja med podjetja v težavah, temveč je bila posledica novega načrta skupine podjetij.
In reply to the comments by a competitor who wished to remain anonymous, Germany argues that the figures on the cost structure of the competitor and Biria are not comparable.
V svojem odgovoru na pripombe konkurenta, ki ni želel biti imenovan, Nemčija navaja, da podatki v zvezi s strukturo stroškov konkurenta in Birie niso primerljivi.
The turnover of the competitor has increased while the sales of the Biria Group have decreased.
Promet konkurenta se je povečal, prodaja skupine Biria pa se je zmanjšala.
At the same time, the EBITDA of the competitor fell while that of Biria Group remained constant.
Hkrati se je EBITDA (dobiček pred obrestmi, davki in amortizacijo) konkurenta zmanjšal, EBITDA skupine Biria pa je ostal nespremenjen.
This shows that Biria does not sell at dumping prices and that the competitor has engaged in more aggressive price behaviour than the Biria Group.
Iz tega izhaja, da Biria ne prodaja po dumpinških cenah in da je konkurent izvajal agresivnejšo cenovno politiko kot skupina Biria.
Germany argues that the economic disadvantages apparently suffered by the competitor because of the Biria Group's behaviour are not borne out by facts or presented in a coherent manner.
Gospodarska škoda, ki jo je konkurent domnevno utrpel zaradi ravnanja skupine Biria, ni niti dokazana z dejstvi niti predstavljena na usklajen način.
It also points out that it is normal in a competitive market for a company to be undercut by a competitor.
Poleg tega je na konkurenčnem trgu običajno, da neko podjetje spodrine drugo podjetje.
As regards the sale of the assets of the Biria Group to the Lone Star Group, which was mentioned by the competitor, Germany provided details on the sale as well as on the repayment of private and public claims.
Glede prodaje premoženja skupine Biria skupini Lone Star, ki jo je omenil konkurent, je Nemčija predložila podrobnosti v zvezi s potekom prodaje ter v zvezi s poravnavo terjatev zasebnih in javnih upnikov.
In reply to the comments by Prophete and Pantherwerke and by Vaterland-Werke, Germany points out that the market for bicycles is divided into three segments, and not two as claimed by these companies.
V svojem odgovoru na pripombe Prophetea, Pantherwerkea in Vaterland-Werkea Nemčija opozarja, da je trg koles razdeljen na tri segmente in ne na dva, kot so trdila ta podjetja. Ti trije segmenti so specializirana trgovina, kataloška prodaja in samopostrežne trgovine.
The three segments are specialised trade, mail order/catalogue sales and self-service premises.
Biria ima v segmentu kataloške prodaje močan položaj, ki pa je bolj posledica pravočasnih dobav kot agresivne cenovne politike.
Biria has a strong position in the mail order segment due less to aggressive pricing than to just-in-time deliveries, while in the self-service segment MIF AG is the leading supplier, with Biria having less than 10 % of the market.
V segmentu samopostrežnih trgovin je vodilni ponudnik MIFA AG, delež Birie pa znaša manj kot 10 %.
Germany rejects the assertion by Vaterland-Werke that the Biria Group planned to expand its activities further through an aggressive pricing policy and makes references to information already submitted in the context of the investigation procedure.
Nemčija zavrača trditve Vaterland-Werkea, da je Biria načrtovala širitev poslovnih dejavnosti z agresivno cenovno politiko, in se sklicuje na podatke, predložene v okviru postopka preiskave.
It points out that Biria AG produced 670000 bicycles in 2003 and that production has been falling since.
Nemčija pojasnjuje, da je Biria leta 2003 izdelala 670000 koles, proizvodnja pa se od tedaj zmanjšuje.
The relevant undertaking
Upravičeno podjetje
The aid was granted to Sachsen Zweirad GmbH and Biria GmbH (now Biria AG) as well as to Bike Systems, a subsidiary of Biria GmbH.
Pomoč je bila dodeljena Sachsen Zweirad GmbH in Birii GmbH (zdaj Biria AG) ter podjetju Bike Systems, hčerinskemu podjetju Birie GmbH.
The Commission notes that, judging by the information provided, the assets were sold following an open, transparent and unconditional tender.
Komisija ugotavlja, da je prodaja po predloženih informacijah potekala z odprtim, preglednim in brezpogojnim razpisom.
According to Germany, an expert opinion put the sales price of the assets at EU-10.7m. The price paid by the Lone Star Group (EUR 11.5m) was thus above the estimated price.
Po navedbah Nemčije je prodajna vrednost premoženja po ocenah strokovnjaka znašala 10,7 milijona EUR. Cena v višini 11,5 milijona EUR, ki jo je plačala skupina Lone Star, je bila torej višja od ocenjene cene.
On the basis of the information at its disposal, the Commission therefore comes to the conclusion that there is no evidence to suggest that any advantage accrued to the Lone Star Group as a result of the aid or that the Lone Star Group would thus be a direct or indirect beneficiary of the state aid granted to Biria GmbH (now Biria AG) and Bike Systems.
Na podlagi predloženih informacij je Komisija sklenila, da ni dokazov za domnevo, da je skupina Lone Star zaradi pomoči pridobila kakršno koli prednost ali da je skupina Lone Star tako neposredni ali posredni upravičenec pomoči, dodeljene Birii GmbH (zdaj Biria AG) in podjetju Bike Systems.
Measure purportedly provided on market conditions
Ukrep, domnevno izveden pod tržnimi pogoji
According to Germany, ggb's silent participation in Bike Systems (Measure 1) was provided on market conditions.
Po mnenju Nemčije je tiha udeležba gbb-ja in podjetja Bike Systems (ukrep 1) potekala pod tržnimi pogoji.
A silent participation is comparable in terms of risk to a subordinated loan and should thus be treated as a high-risk loan.
Tveganje tihe udeležbe je enako tveganju podrejenega posojila in ga je zato treba obravnavati kot posojilo z visokim tveganjem.
In the case of bankruptcy or liquidation, it is paid back only after all other liabilities have been honoured.
V primeru stečaja ali likvidacije se tiha udeležba poplača šele potem, ko so bile poravnane vse druge obveznosti.
The risk associated with the participation thus exceeds that associated with a traditional bank investment loan, which is normally secured on the conditions required by the bank and reflected in the Commission's reference rate.
Tveganje, povezano s tiho udeležbo, je torej večje od tveganja običajnega bančnega posojila za naložbo, ki je običajno zavarovano po pogojih banke in se odraža v referenčni obrestni meri Komisije.
The remuneration to be paid for such a participation should thus significantly exceed the reference rate.
Nadomestilo za takšno udeležbo bi moralo biti zato precej večje, kot je referenčna obrestna mera Komisije.
The Commission's reference rate at the time was 6.33 %.
Referenčna obrestna mera Komisije je bila v času udeležbe 6,33 %.
The participation was provided with a fixed remuneration of 8.75 % plus a variable remuneration of 3.5 %, depending on the profits made.
Za udeležbo je bilo dogovorjeno fiksno nadomestilo v višini 8,75 % in spremenljivo, od dobička odvisno nadomestilo v višini 3,5 %.
The agreed remuneration is thus higher than the Commission's reference rate.
Dogovorjeno nadomestilo je tako višje od referenčne obrestne mere Komisije.
However, Bike Systems had just came out of insolvency through the adoption of an insolvency plan.
Bike Systems je sprejel stečajni načrt in se izognil stečaju.
Its future prospects were uncertain as only a limited operational restructuring had been carried out.
Prihodnost podjetja je bila nejasna, saj je bilo izvedeno le omejeno operativno prestrukturiranje.
According to the company's annual report for 2001, the company still recorded losses that year.
Glede na letno poročilo za leto 2001 je podjetje v tem letu še vedno beležilo izgube.
Its own capital was still negative although, thanks to hidden reserves, this did not trigger insolvency.
Lastniški kapital je bil še vedno negativen, čeprav to zaradi skritih rezerv ni povzročilo stečaja.
Bike Systems must, therefore, be regarded as a company in difficulty at that time.
Bike Systems je zato treba obravnavati kot podjetje, ki je bilo v tistem času v težavah.
Accordingly, the Commission considers that the remuneration was not proportional to the risk and that the silent participation was not provided on market conditions.
Komisija zato meni, da nadomestilo ni bilo sorazmerno tveganju in da tiha udeležba ni potekala pod tržnimi pogoji.
The silent participation thus conferred on Bike Systems an advantage that the company would not have obtained on the market.
Udeležba je za Bike Systems pomenila prednost, ki je podjetje na trgu ne bi bilo deležno.
Aid purportedly covered by approved aid schemes
Pomoč, domnevno dodeljena v okviru odobrenih programov pomoči
The guarantee in favour of Sachsen Zweirad GmbH for an operating credit of EUR 5.6m (Measure 2) and the guarantee in favour of Biria GmbH (now Biria AG) for an operating credit of EUR 24.875m (Measure 3) were granted under the loan guarantee scheme of the Land of Saxony.
Jamstvo za Sachsen Zweirad GmbH za kredit za obratna sredstva v višini 5,6 milijona EUR (ukrep 2) in jamstvo za Birio GmbH (zdaj Biria AG) za kredit za obratna sredstva v višini 24,875 milijona EUR (ukrep 3) sta bili dodeljeni na podlagi programa pomoči dežele Saške.
The provision of guarantees for the restructuring of a large undertaking must, however, be notified to the Commission in each individual case.
Zagotovitev jamstev za prestrukturiranje velikega podjetja pa je treba ločeno priglasiti Komisiji.
According to Germany, the conditions of the scheme were met and the guarantees therefore comply with the scheme.
Po besedah Nemčije so bili pogoji programa izpolnjeni, zaradi česar so jamstva v skladu s programom pomoči.
Germany considers that Sachsen Zweirad GmbH and Biria GmbH (now Biria AG) were not in difficulty at the time the guarantees were provided to secure working capital loans, something which is admissible under the aid scheme.
Nemčija je mnenja, da podjetji Sachsen Zweirad GmbH in Biria GmbH (danes Biria AG) v času zagotovitve jamstev nista bili podjetji v težavah. Jamstva so bila zagotovljena za zavarovanje posojil za obratna sredstva, kar je po programu pomoči tudi dovoljeno.