natgillin/translations-raw huggingface dataset:
The Government adds that, in this context and contrary to what it should have done, the Commission did not take into account all relevant factors in examining whether the capital injection could be expected to generate a reasonable return.
Vlada dodaja, da Komisija glede na to in v nasprotju s tem, kar bi morala storiti, pri presoji, ali bi dokapitalizacija po pričakovanjih lahko ustvarila primeren donos, ni upoštevala vseh pomembnih dejavnikov.
The Commission limited its analysis to Teracom's past losses and its solvency ratio.
Komisija je svojo analizo omejila na pretekle izgube in stopnjo solventnosti družbe Teracom.
In the Government's view, the Commission was also wrong to compare the State with an outside creditor but should instead have compared it with a private shareholder, which can be presumed to take a long-term approach to its investment.
Po mnenju vlade je Komisija tudi napačno primerjala državo z zunanjim upnikom, namesto da bi jo primerjala z zasebnim delničarjem, za katerega je mogoče sklepati, da bo na svojo naložbo gledal dolgoročno.
The State owns 100 % of Teracom, which also implies a longer term interest than in the case of a minority holding.
Država ima v lasti 100 % družbe Teracom, kar pomeni tudi, da ima dolgoročnejši interes kot pri manjšinskem deležu.
To further support its arguments, the Government submitted a report by PWC, an independent auditing consultancy, which was requested by the Government to review the Government's decision concerning the capital injection.
Vlada je v dodatno podporo svojim argumentom predložila poročilo neodvisne revizijske in svetovalne družbe PWC, ki ji je vlada naročila, naj prouči njeno odločitev v zvezi z dokapitalizacijo.
The report assesses Teracom's economic and financial situation at the time of the capital injection and based on information available at the time of the Government's decision.
Poročilo ocenjuje gospodarsko in finančno stanje družbe Teracom v času dokapitalizacije na podlagi informacij, ki so bile na voljo, ko je vlada sprejela odločitev.
The report concludes that the Government had sufficient information to decide on the injection and that Teracom's long-term profitability was at a level which would have satisfied a private investor.
Poročilo ugotavlja, da je imela vlada dovolj informacij, da se je lahko odločila za vložek, in da je bila dolgoročna donosnost družbe Teracom na ravni, ki bi zadovoljila zasebnega vlagatelja.
Finally, the Government is of the opinion that the Commission did not sufficiently take into account the broader context of the capital injection.
Nazadnje vlada meni, da Komisija ni dovolj upoštevala širšega okvira dokapitalizacije.
It should, for example, have taken into account that the injection was necessary to secure the investments already made which, in the long term, were expected to be profitable.
Morala bi na primer upoštevati, da je bil vložek potreben za zavarovanje že opravljenih naložb, za katere se je dolgoročno pričakovalo, da bodo donosne.
ASSESSMENT OF THE ALLEGED AID MEASURES
OCENA DOMNEVNIH UKREPOV POMOČI
For a measure to be characterised as State aid within the meaning of Article 87(1), four conditions must be fulfilled: (1) there must be a transfer of State resources; (2) the measure in question must involve an economic advantage to the recipient; (3) the measure must distort, or threaten to distort, competition; and (4) the measure must affect trade between Member States.
Da se ukrep lahko obravnava kot državna pomoč v smislu člena 87(1), mora izpolnjevati naslednja štiri merila: (1) gre za prenos državnih sredstev; (2) zadevni ukrep vključuje gospodarsko prednost za prejemnika; (3) ukrep izkrivlja ali bi lahko izkrivljal konkurenco in (4) ukrep negativno vpliva na trgovino med državami članicami.
To determine whether the transmission fees which SVT pays to Teracom for terrestrial transmission confer an economic advantage on Teracom, it needs to be examined whether SVT has paid or is, in the future, due to pay amounts which exceed what Teracom could reasonably expect to obtain from customers under normal market conditions.
Da se ugotovi, ali ima družba Teracom gospodarsko prednost zaradi zneskov, ki ji jih SVT plačuje za prizemni prenos, je treba proučiti, ali so zneski, ki jih je SVT plačala ali jih mora v prihodnje plačati, višji od zneskov, ki bi jih lahko pričakovala od strank pod običajnimi tržnimi pogoji.
First, the Commission has investigated whether, since the launch of digital terrestrial television in Sweden in 1999 up to the year 2006, SVT has paid Teracom more than Teracom's costs of transmitting SVT.
Prvič, Komisija preiskuje, ali je od vzpostavitve digitalne prizemne televizije na Švedskem leta 1999 do leta 2006 SVT plačala družbi Teracom več od njenih stroškov prenosa SVT.
While the calculations in the opening Decision were to a large extent based only on estimates of SVT's payments and Teracom's costs, the Commission has in the present Decision based its calculations on actual figures (see Table 4 above).
Medtem ko so izračuni v odločitvi o sprožitvi preiskave v glavnem temeljili na ocenah plačil SVT in stroškov družbe Teracom, je Komisija kot osnovo za izračune v tej odločbi upoštevala dejanske številčne podatke (glej preglednico).
These figures demonstrate that, during the period from 1999 to 2006, SVT has not made excessive payments to Teracom.
Te številke kažejo, da v obdobju od leta 1999 do leta 2006 SVT družbi Teracom ni plačevala previsokih zneskov.
In fact, seen over the entire period, SVT's payments have been lower than Teracom's costs of transmitting SVT, resulting in losses on transmission amounting to approximately SEK 149,5 million.
Dejansko so bila v celotnem obdobju plačila SVT nižja od stroškov družbe Teracom za prenos SVT, zaradi česar je ta imela pri prenosu izgubo v višini približno 149,5 milijona SEK.
Because this figure (SEK 149,5 million) includes payments for both analogue and digital transmissions, this also indicates that there has been no cross-subsidisation in the sense that Teracom has charged excessive fees for analogue transmissions in order to use the money for its digital operations.
Ker ta številka (149,5 milijona SEK) vključuje plačila za analogni in digitalni prenos, to pomeni tudi, da ni bilo navzkrižnega subvencioniranja v smislu, da bi družba Teracom zaračunavala previsoka plačila za analogne prenose z namenom, da bi ta denar uporabila za svoje digitalne dejavnosti.
Second, the Commission has verified whether Teracom has charged higher transmission fees to SVT than to commercial broadcasters and, in this way, extracted an economic advantage from SVT.
Drugič, Komisija je preverila, ali je družba Teracom zaračunavala SVT višja plačila za prenos kot komercialnim postajam in si tako pridobila gospodarsko prednost s SVT.
In this respect, the Commission notes that Teracom's pricing is subject to the principle of equal treatment, i.e., Teracom applies the same terms and conditions to all its customers.
Pri tem Komisija ugotavlja, da družba Teracom oblikuje cene po načelu enake obravnave, torej uporablja enake pogoje za vse stranke.
More particularly, the Commission notes that Teracom's pricing for analogue transmissions has been cost-based ever since 1992 and that its prices for digital transmissions are determined by the so-called penetration-based pricing model in which the parameters are the same for all of Teracom's customers.
Bolj natančno Komisija ugotavlja, da je družba Teracom oblikovala cene za analogni prenos na podlagi stroškov že od leta 1992 in da določa cene za digitalni prenos po tako imenovanem modelu oblikovanja cen na podlagi gostote priključkov, v katerem so parametri za vse njene stranke enaki.
The Commission has also compared the actual prices which Teracom has charged to SVT and to other broadcasters in the digital terrestrial network.
Komisija je tudi primerjala dejanske cene, ki jih je družba Teracom zaračunala SVT in drugim postajam v digitalnem prizemnem omrežju.
While Teracom has charged a higher price to SVT than to, for example, the commercial broadcaster TV4, this price difference is due to additional services which SVT requires from Teracom.
Družba Teracom je sicer zaračunala višjo ceno SVT kot na primer komercialni postaji TV4, vendar se cena razlikuje zaradi dodatnih storitev, ki jih od nje zahteva SVT.
The Commission, therefore, has not found any indications that SVT is subject to less favourable (or more favourable) terms and conditions than other broadcasters or that it is charged disproportionately high transmission fees.
Komisija zato ni našla nobenih znakov, da ima SVT manj ugodne (ali bolj ugodne) pogoje kot druge postaje ali da plačuje nesorazmerno visoke zneske za prenos.
Third, and for the sake of completeness, the Commission has investigated whether, in the future, SVT will have to pay Teracom more than a normal market price for transmission.
Tretjič, in zaradi celovitosti, je Komisija preiskala, ali bo moral SVT družbi Teracom v prihodnje plačevati višjo ceno prenosa od tržne.
One of the concerns raised in the opening Decision was whether, between 2008 and 2013, SVT would make excessive transmission payments to Teracom which, by 2013, would lead to accumulated profits in favour of Teracom of about SEK 510 million.
V odločitvi o sprožitvi postopka je bil med drugim izražen pomislek, ali bo SVT med letoma 2008 in 2013 družbi Teracom plačevala previsoko ceno za prenos, zaradi česar bi si ta do leta 2013 nabrala skupni dobiček v višini približno 510 milijonov SEK.
However, the Commission notes that Teracom's pricing is currently and for the foreseeable future subject to the above-mentioned pricing principles which will prevent it from charging SVT excessive transmission fees.
Vendar pa Komisija ugotavlja, da Teracom trenutno določa cene po navedenih načelih oblikovanja cen in jih bo tudi v bližnji prihodnosti, zaradi česar ne bo mogla zaračunati previsokih cen za prenos SVT.
Moreover, since the decisions of the Swedish Post and Telecommunications Regulator in 2005, Teracom is subject to ex-ante regulation in the wholesale markets for analogue and for digital terrestrial transmissions.
Poleg tega od sklepov, ki jih je Švedski organ za pošto in telekomunikacije sprejel leta 2005, za Teracom velja predhodna ureditev na trgih na debelo za analogni in digitalni prizemni prenos.
These decisions should, in principle, eliminate any risk that Teracom might charge SVT excessive transmission fees.
Ta sklepa bi morala načeloma preprečiti tveganje, da bi družba Teracom SVT zaračunala previsoke cene za prenos.
Finally, as has been explained by the Government (see paragraph 40 above) and contrary to the concern raised by the Commission in the opening Decision, SVT is not obliged to use all the funds it receives from the distribution account to pay Teracom for transmission.
Nazadnje, kot pojasnjuje vlada (glej odstavek 40) in v nasprotju s pomislekom Komisije v odločitvi o sprožitvi postopka, SVT ni zavezana porabiti vseh sredstev, ki jih prejme iz distribucijskega računa, za plačilo prenosa družbi Teracom.
SVT negotiates the transmission price independently with Teracom, and if it ends up spending less on transmission than forecast it is free to use these funds for its programme activities.
SVT se z družbo Teracom neodvisno pogaja o ceni prenosa, in če za prenos porabi manj, kot je bilo predvideno, lahko ta sredstva uporabi za programske dejavnosti.
On the basis of the above considerations, the Commission takes the position that, although SVT is obliged to transmit via the analogue and digital terrestrial network and currently has no other alternative than to use Teracom for its services, Teracom is restricted in its capacity to take advantage of SVT as a captive customer.
Komisija na podlagi navedenih premislekov meni, da so možnosti družbe Teracom, da bi izkoristila SVT kot vezano stranko, omejene, kljub obveznosti, ki jo ima SVT glede prenosa programov prek analognega in digitalnega prizemnega omrežja, pri čemer trenutno nima druge možnosti, kot da za svoje storitve uporablja družbo Teracom.
In this context, the Commission also notes that, because commercial broadcasters find it worthwhile being present in the digital terrestrial network and paying Teracom's respective transmission fees, it is reasonable that SVT does so too.
Pri tem Komisija ugotavlja tudi, da komercialne postaje menijo, da se jim izplača uporabljati digitalno prizemno omrežje in plačevati ustrezno plačilo za prenos družbi Teracom, zato je smiselno, da to počne tudi SVT.
As regards the allegation that Boxer received aid because SVT does not pay for distribution, the Commission would point out that commercial agreements between broadcasters and distributors can take various forms.
Komisija je v zvezi z navedbo, da je družba Boxer prejela pomoč, ker SVT ne plačuje za distribucijo, poudarila, da imajo lahko poslovni dogovori med televizijskimi postajami in distributerji različne oblike.
In view of the fact that the transaction between these two parties involves an exchange of transmission services versus availability of content which is valuable to both parties, the precise terms and conditions can vary considerably depending, for example, on the platforms and operators involved.
Glede na to, da posel med tema strankama vključuje menjavo storitev prenosa za zagotavljanje vsebine in da imata od njega korist obe stranki, se lahko natančni pogoji precej razlikujejo na primer glede na udeležene platforme in operaterje.
On the basis of the foregoing, the Commission concludes that the transmission fees paid by SVT to Teracom do not confer an economic advantage on Teracom and thus do not constitute State aid within the meaning of Article 87(1).
Na podlagi navedenega Komisija ugotavlja, da zneski za prenos, ki jih je SVT plačala družbi Teracom, tej družbi ne dajejo gospodarske prednosti in zato niso državna pomoč v smislu člena 87(1).
The State guarantee
Državno poroštvo
According to the Notice on Guarantees, a guarantee generally falls within the scope of Article 87(1) if trade between Member States is affected and no market premium is paid.
V skladu z Obvestilom o poroštvih se za poroštva na splošno uporablja člen 87(1), če vplivajo na trgovino med državami članicami in se ne plača tržna premija.
According to section 2 of the Notice on Guarantees, if a State guarantee has been issued, even if no payments are ever made by the State under a guarantee, there may nevertheless be State aid under Article 87(1).
V skladu z oddelkom 2 Obvestila o poroštvih je lahko poroštvo vseeno državna pomoč po členu 87(1), tudi če država v okviru poroštva ni izplačala nobenih zneskov.
This is because aid is considered to have been granted at the moment the guarantee is granted, not at the moment at which it is invoked or the moment at which payments are made under the terms of the guarantee.
Tako je zato, ker velja, da je pomoč dodeljena, ko se poroštvo izda, in ne takrat, ko se uveljavi ali ko se izplačajo zneski pod pogoji poroštva.
However, the Commission notes that, according to settled case law, e.g., Austria v Commission, there has to be an unconditional and legally binding promise to grant the aid in question before aid can be established to exist.
Vendar pa Komisija ugotavlja, da mora v skladu z uveljavljeno sodno prakso, npr. Avstrija proti Komisiji, obstajati brezpogojna in pravno zavezujoča obljuba dodelitve zadevne pomoči, preden se lahko dokaže obstoj pomoči.
In the present case, the Commission takes the view that the Government's decision to request the National Debt Office to issue a credit guarantee was a conditional decision and did not confer on Teracom an unconditional right to request that a credit guarantee be issued to it.
V zadevnem primeru Komisija meni, da je bila odločitev vlade, da zaprosi Urad za javni dolg za izdajo kreditnega poroštva, pogojna odločitev in družba Teracom s tem ni dobila brezpogojne pravice, da zaprosi za izdajo kreditnega poroštva.
The Commission notes that, under Swedish law, when authorities subject to governmental oversight issue a credit guarantee, its issuance is always conditional upon the findings of the National Debt Office regarding, among other things, solvency and honesty.
Komisija ugotavlja, da je v skladu s švedsko zakonodajo izdaja kreditnega poroštva, za katero se odločijo organi pod nadzorom vlade, vedno odvisna od ugotovitev Urada za javni dolg, kar zadeva, med drugim, solventnost in poštenost.
This feature of the Swedish system and laws is a matter of public knowledge.
Ta značilnost švedskega sistema in zakonodaje je splošno znana.
Also, it is clear that the Government was aware of its obligations under Community law because it stated that the National Debt Office had to consider the credit guarantee under the State aid rules and, if necessary, gather the relevant information for a notification to the Commission.
Jasno je tudi, da se je vlada zavedala svojih obveznosti v skladu z zakonodajo Skupnosti, saj je navedla, da je moral Urad za javni dolg proučiti kreditno poroštvo v skladu s pravili o državni pomoči in po potrebi zbrati ustrezne informacije za priglasitev Komisiji.
Importantly, the Commission notes that no action was taken subsequent to the National Debt Office's report.
Komisija ugotavlja, da je pomembno, da po predložitvi poročila Urada za javni dolg ni bilo nobenih nadaljnjih ukrepov.
To sum up, on the basis of the above the Commission therefore finds that it is not possible to conclude that a credit guarantee was ever issued and that an unconditional and legally binding promise to grant the aid was made to Teracom.
Skratka, na podlagi navedenega Komisija zato ugotavlja, da ni mogoče sklepati, da je bilo kreditno poroštvo izdano in da je družba Teracom dobila brezpogojno in pravno zavezujočo obljubo o dodelitvi pomoči.
Consequently, no economic advantage was granted to Teracom.
Zato družba Teracom ni dobila gospodarske prednosti.
Where a State provides finance to a company in circumstances that would not be acceptable to an investor operating under normal market economy conditions, it confers an economic advantage on the beneficiary.
Kadar država družbi zagotovi finančna sredstva v okoliščinah, ki so nesprejemljive za vlagatelja v okviru običajnih pogojev tržnega gospodarstva, podeli upravičeni družbi gospodarsko prednost.
To determine whether the conditional shareholder contribution in the form of a capital injection granted to Teracom at the end of June 2003 conferred an economic advantage on Teracom, it needs to be examined whether this capital injection complied with the market economy investor principle.
Da se ugotovi, ali je družba Teracom zaradi pogojnega delniškega vložka v obliki dokapitalizacije, odobrenega konec junija 2003, dobila gospodarsko prednost, je treba proučiti, ali je bila ta dokapitalizacija skladna z načelom vlagatelja pod tržnimi pogoji.
The Commission concedes that the information concerning Teracom's financial situation as set out in the opening Decision was not entirely accurate.
Komisija priznava, da informacije o finančnem stanju družbe Teracom, navedene v odločitvi o sprožitvi postopka, niso bile popolnoma pravilne.
As demonstrated by the Government, Teracom's solvency was not as low as indicated in the opening Decision and Teracom had made losses for two years and not for three consecutive years.
Kot je dokazala vlada, solventnost družbe Teracom ni bila tako slaba, kot je navedeno v odločitvi o sprožitvi postopka, in ta družba je imela izgube samo dve leti, in ne tri leta zapored.
The opening Decision, therefore, pictured Teracom's financial situation as slightly worse than in reality.
V odločitvi o sprožitvi postopka je bilo finančno stanje družbe Teracom prikazano malo slabše, kot je bilo v resnici.
Having analysed the information submitted by the Government in its 29 October response as well as in subsequent responses, including Teracom's short- and long-term business plans, the Commission considers that the Government's assessment, in 2003, of Teracom's then current and future economic and financial situation was realistic, and that the prospects of a satisfactory return on the capital injection were credible.
Komisija po analizi informacij, ki jih je predložila vlada v odgovoru z dne 29. oktobra in v nadaljnjih odgovorih, vključno s kratkoročnimi in dolgoročnimi poslovnimi načrti družbe Teracom, meni, da je bila ocena vlade iz leta 2003 glede tedanjega in prihodnjega gospodarskega in finančnega stanja družbe Teracom realistična in da so bile možnosti zadovoljivega donosa dokapitalizacije verjetne.
As described in detail in Section 7.3 above, the Government made an assessment of Teracom's economic and financial position based on the company's business plans for the years 2003 to 2005, its financial forecasts for the period 2003 to 2010 and comparisons with other companies and other shareholders in the same and similar industries.
Kot je podrobno opisano v oddelku 7.3, je vlada ocenila kratkoročno in dolgoročno ekonomsko ter finančno stanje družbe Teracom na podlagi njenih poslovnih načrtov za leta od 2003 do 2005, njenih finančnih napovedi za obdobje od leta 2003 do 2010 in primerjav z drugimi družbami in delničarji v tem sektorju ter sorodnih sektorjih.
It concluded that a conditional shareholder contribution amounting to SEK 500 million would improve Teracom's solvency and allow the company to subsequently generate enough profits to pay back the shareholder contribution within a reasonable time.
Ugotovila je, da bi pogojni delniški vložek v višini 500 milijonov SEK izboljšal solventnost družbe Teracom in ji omogočil, da kasneje ustvari dovolj dobička, da bo lahko delniški vložek v primernem času odplačala.
The forecast for 2003 indicated that Teracom's loss and profit accounts would be positive.
Napoved za leto 2003 je kazala, da bo bilanca izgube in dobička družbe Teracom pozitivna.
In this context, the Commission notes that Teracom was already making profits in the first three months of 2003 — before the Government made its proposal to Parliament.
Pri tem Komisija ugotavlja, da je družba Teracom imela dobiček že v prvih treh mesecih leta 2003 – preden je vlada predložila predlog parlamentu.
Finally, the Commission has reviewed the report made by PWC on behalf of the Government, which explains the data which formed the basis for the Government's decision.
Nazadnje, Komisija je proučila poročilo, ki ga je družba PWC opravila v imenu vlade in v katerem so pojasnjeni podatki, na katerih temelji odločitev vlade.
In the Commission's view, these data provided a credible basis for an investment decision.
Po mnenju Komisije so bili ti podatki verodostojna podlaga za odločitev o naložbi.
In particular, the report indicates that, after losses in 2001 and 2002, Teracom was close to break-even at the time the capital injection was made.
Predvsem je v poročilu navedeno, da je bila po izgubah v letih 2001 in 2002 družba Teracom v času dokapitalizacije na pragu dobička.
Especially, Teracom's economic and financial situation had improved considerably compared with the time when the National Debt Office gave a negative opinion on issuing a State credit guarantee.
Zlasti se je precej izboljšalo ekonomsko in finančno stanje družbe Teracom v primerjavi z obdobjem, ko je Urad za javni dolg izrazil negativno mnenje o izdaji državnega kreditnega poroštva.
The report demonstrates that the Government's choice is compatible with the type of analysis that a private investor would have carried out, which consists in assessing the expected additional profits from the investment and whether these profits are sufficient to compensate for the risks of the investment.
Poročilo dokazuje, da si je vlada izbrala takšno vrsto analize, kot bi jo opravil zasebni vlagatelj, pri kateri se ocenjuje pričakovani dodatni dobiček iz naložbe in ali bo ta dobiček zadoščal za nadomestitev tveganja naložbe.
The report calculates the expected internal rate of return of the investment by determining the incremental cash flow it generates.
V poročilu je pričakovana notranja stopnja donosa naložbe izračunana z določitvijo dodatnega denarnega toka, ki ga ta ustvari.
This is done by taking the difference between two alternative scenarios — with or without the shareholder contribution.
To se stori tako, da se vzame razlika med dvema možnima scenarijema – z delniškim vložkom ali brez njega.