natgillin/translations-raw huggingface dataset:
The authorities also stressed that pre-investments by the municipality of Amsterdam did not reduce the start-up risk of the investment for the other GNA shareholders.
Organi so tudi poudarili, da predhodne naložbe mestne občine Amsterdam niso zmanjšale tveganja naložbe v začetni fazi poslovanja za druge delničarje podjetja GNA.
The Dutch authorities also argue that the pre-investments did not provide any advantage to any party, therefore could not constitute State aid within the meaning of Article 87(1) of the EC Treaty.
Poleg tega so nizozemski organi trdili, da predhodne naložbe niso pomenile nikakršne prednosti za nobeno od strank, zato ne bi mogle pomeniti državne pomoči v smislu člena 87(1) Pogodbe ES.
For instance, the start of certain digging activities was triggered by the fact that some civil works took place in areas which were important for the future construction of the GNA network.
Na primer, nekatere izkopne dejavnosti so se začele, ker so na območjih, pomembnih za prihodnjo izgradnjo omrežja podjetja GNA, potekala nekatera gradbena dela.
Since all digging activities are coordinated in Amsterdam, digging just a few months afterwards would have been impossible, which would have caused delays and additional costs for GNA.
Ker so v Amsterdamu vse izkopne dejavnosti usklajene, bi bilo izkopavanje le nekaj mesecev pozneje nemogoče, kar bi povzročilo zamude in dodatne stroške podjetju GNA.
Furthermore, the Dutch authorities claim that all these costs were incorporated in the business plan and that no new cost elements emerged that would not have been known by the other GNA shareholders.
Poleg tega nizozemski organi trdijo, da so bili vsi ti stroški vključeni v poslovni načrt in da ni bilo nobenega novega stroškovnega elementa, ki ga drugi delničarji podjetja GNA ne bi poznali.
To support these claims, the municipality of Amsterdam submitted a report prepared by Deloitte — an accounting firm — of 18 January 2007, auditing the reimbursement of the pre-investments.
V podporo tem trditvam je mestna občina Amsterdam predložila poročilo, ki ga je 18. januarja 2007 pripravilo računovodsko podjetje Deloitte ob reviziji povrnitve predhodnih naložb.
The report states that the above-mentioned pre-investments, amounting to EUR […] were entirely reimbursed by GNA at the end of 2006 with interest would be charged.
Poročilo navaja, da je podjetje GNA zgoraj navedene predhodne naložbe v znesku […] EUR v celoti povrnilo do konca leta 2006, skupaj z obrestmi.
The Dutch authorities informed the Commission that the interest rate applied [45] is […] % in line with the Dutch national law [46], the interest amounts to EUR […] and were paid on […] by GNA.
Nizozemski organi so obvestili Komisijo, da je bila uporabljena stopnja obresti [45] […] %, kar je v skladu z nizozemsko zakonodajo [46]. Obresti so znašale […] EUR, družba GNA pa jih je plačala dne […].
Furthermore, the Dutch authorities do not consider their own feasibility studies as part of the pre-investments.
Poleg tega nizozemski organi svojih študij izvedljivosti ne štejejo za del predhodnih naložb.
According to the Dutch authorities, all prudent market investors would carry out such studies.
Po njihovem mnenju bi take študije izvedli vsi preudarni tržni vlagatelji.
The Dutch authorities argue that these studies could not have reduced or absorbed some of the start-up risk for the other GNA shareholders, as the other potential shareholders have to follow their own appraisal as well and assess their own risks and benefits from the project.
Nizozemski organi menijo, da te študije ne bi mogle zmanjšati ali odpraviti nekega tveganja v začetni fazi poslovanja za druge delničarje podjetja GNA, saj so se morali drugi morebitni delničarji opreti tudi na lastno presojo ter oceniti, kakšna tveganja in prednosti jim prinaša projekt.
Similarly, the feasibility studies of the other GNA shareholders (such as ING RE’s or Reggefiber’s) carried out before investing into GNA were financed by the respective parties without being charged to GNA.
Podobno so študije izvedljivosti drugih delničarjev podjetja GNA (kot sta ING RE ali Reggefiber), opravljene pred naložbo v podjetje GNA, financirale zadevne stranke, ne da bi jih zaračunale podjetju GNA.
Therefore, the Dutch authorities assert that the preliminary doubts of the Commission regarding ‘concomitance’ and ‘identical terms and conditions’ originating from the pre-investments of the Amsterdam municipality are properly addressed by the above-mentioned explanations provided and by the reimbursement of the relevant pre-financed costs to GNA.
Zato nizozemski organi trdijo, da zgornje razlage in dejstvo, da je zadevne predhodno financirane stroške povrnilo podjetje GNA, pomenijo ustrezen odgovor na predhodne dvome Komisije o „hkratnosti“ in „enakosti pogojev“ glede predhodnih naložb mestne občine Amsterdam.
Comments on the doubts related to the GNA business plan
Pripombe glede dvomov, povezanih s poslovnim načrtom podjetja GNA
With regard to GNA’s business plan, the Dutch authorities argue that investments made by public authorities satisfy the conditions of the MEIP if they are pursued under the same terms and conditions as those made by private investors.
Glede poslovnega načrta podjetja GNA nizozemski organi menijo, da naložbe javnih organov izpolnjujejo pogoje načela vlagatelja pod tržnimi pogoji, če so izvedene pod enakimi pogoji kot naložbe zasebnih vlagateljev.
The presence of private investors should guarantee that the project is done on market terms.
Navzočnost zasebnih vlagateljev naj bi zagotovila, da se projekt izvaja pod tržnimi pogoji.
Therefore, they argue that it was not strictly necessary for the Commission to analyse GNA’s business plan.
Zato zagovarjajo stališče, da Komisiji ni bilo nujno treba analizirati poslovnega načrta podjetja GNA.
Second, the Dutch authorities consider that all assumptions of GNA’s business plan were not optimistic, rather conservative ones.
Drugič, nizozemski organi menijo, da vsa predvidevanja v poslovnem načrtu podjetja GNA niso bila optimistična, temveč prej konservativna.
More particularly, regarding the financial indicators in the business plan, in the opening decision the Commission compared the targeted financial indicators with relevant publicly available comparative data, namely the weighted average cost of capital (‘WACC’) [47] of peer companies [48].
Povedano natančneje, glede finančnih kazalnikov v poslovnem načrtu je Komisija v odločitvi o sprožitvi postopka ciljne finančne kazalnike primerjala z ustreznimi javno razpoložljivimi primerjalnimi podatki, in sicer s tehtanim povprečjem stroškov kapitala (v nadaljnjem besedilu „TPSK“) [47] podobnih družb [48].
The Commission came to the preliminary conclusion that overall, GNA’s targeted financial indicators do not seem unrealistic, but are highly dependent on the achievement of key success factors.
Predhodna ugotovitev Komisije je bila, da ciljni finančni kazalniki podjetja GNA na splošno niso bili videti nerealni, vendar pa so bili zelo odvisni od doseganja ključnih dejavnikov uspeha.
Furthermore, the Commission claimed that the forecasts for the business plan’s key success factors are likely to be very uncertain due to the novelty of the Amsterdam project in terms of the technology used (fibre technology), the business model (three-layer model), the limited project size (hence only limited economies of scale) and the expected consumer demand for high bandwidth services.
Poleg tega je Komisija trdila, da so bile napovedi za ključne dejavnike uspeha poslovnega načrta po vsej verjetnosti precej negotove zaradi novosti v amsterdamskem projektu v smislu uporabljene tehnologije (tehnologije steklenih vlaken), poslovnega modela (triplastnega modela), omejene velikosti projekta (zato le omejene ekonomije obsega) in pričakovanega povpraševanja potrošnikov po širokopasovnih storitvah.
The Dutch authorities argue that the project’s internal rate of return [49] should not be compared with WACC figures of vertically integrated operators, as was done in the Commission’s opening decision as these figures include the risk of all three layers of these network operators.
Nizozemski organi menijo, da notranje stopnje donosa projekta [49] ne bi smeli primerjati s tehtanim povprečjem stroškov kapitala vertikalno integriranih operaterjev, kot je storila Komisija v odločitvi o sprožitvi postopka, saj ti podatki vključujejo tveganje vseh treh plasti teh omrežnih operaterjev.
On the contrary, GNA is only investing in the passive network, which has an expected economic lifetime of 30 years (or even more) and which is more similar to infrastructure investments from which, generally, lower rates of return are required by investors.
Nasprotno pa GNA vlaga le v pasivno omrežje, katerega ekonomska uporabnost traja 30 let (ali celo več) in ki je bolj podobno infrastrukturnim naložbam, od katerih vlagatelji na splošno pričakujejo nižje stopnje donosa.
Regarding the targeted penetration rate, in the opening decision, the Commission came to the preliminary conclusion that, based on the available data, achieving at least […] % penetration for GNA’s ‘minimum scenario’ seems optimistic.
V zvezi s ciljno stopnjo gostote je Komisija v svoji odločitvi o sprožitvi postopka predhodno ugotovila, da je bilo na podlagi razpoložljivih podatkov doseganje gostote vsaj […] % po „minimalnem scenariju“ podjetja GNA videti optimistično.
Moreover, the target of […] % of all households after […] seems aggressive and will only be possible through a massive ‘penetration pricing’ strategy shifting existing customers of other operators to the GNA network.
Poleg tega naj bi bil cilj gostote […]% vseh gospodinjstev po […]mesecih videti agresiven in bo mogoč le z obsežno strategijo „oblikovanja cen na podlagi gostote“, s katero se stranke drugih operaterjev preselijo v omrežje podjetja GNA.
The Dutch authorities argue that there are already several highly successful fibre projects in the Netherlands, where fibre networks could achieve high penetration ratios.
Nizozemski organi menijo, da je na Nizozemskem že več izjemno uspešnih projektov optičnih vlaken, kjer bi optična omrežja lahko dosegala višje stopnje gostote.
For instance, as regards Nuenen or Hillegom, the authorities claim that fibre penetration reached more than 80 % after one year of operation.
Na primer, za Nuenen ali Hillegom organi trdijo, da je gostota optičnih vlaken po enem letu dosegla več kot 80 %.
Furthermore, the Dutch authorities argue that current broadband penetration rates are not relevant in the case at hand: services provided over fibre networks should be considered as a new market compared to current broadband offers of existing operators.
Nizozemski organi tudi trdijo, da trenutne stopnje gostote širokopasovnih priključkov v obravnavani zadevi niso primerne: storitve, ponujene prek optičnih omrežij, naj bi veljale za nov trg v primerjavi s sedanjimi širokopasovnimi ponudbami obstoječih operaterjev.
Therefore, current broadband penetration rates should not be used as a benchmark.
Zato trenutnih stopenj gostote širokopasovnih priključkov ne bi smeli uporabiti za primerjavo.
In addition, the authorities argue that numerous new services and applications [50] are emerging that require high speed symmetrical networks which can only be provided on a fibre-to-the-home network.
Poleg tega organi trdijo, da se pojavljajo številne nove storitve in aplikacije [50], ki zahtevajo visokohitrostna simetrična omrežja, ki jih je mogoče zagotoviti le na omrežju kablov iz steklenih vlaken do doma.
Based on these arguments, the Dutch authorities stress that reaching approximately […] penetration rate in areas of Amsterdam where the network is rolled out within […] is not only realistic, but rather a conservative target.
Na podlagi teh utemeljitev nizozemski organi poudarjajo, da je doseganje stopnje gostote približno […] % na območjih Amsterdama, na katerih se omrežje uvaja v […], ne le realno, temveč zares lahko velja za konservativen cilj.
In relation to the wholesale prices charged by GNA to the wholesale operator, the Commission argues in the opening decision that although experts suggest that fibre networks entail lower operational expenditure than current copper telecommunications and cable networks, the GNA wholesale prices are still considerably lower than what market reports suggest.
V zvezi z grosističnimi cenami, ki jih GNA zaračunava operaterju na debelo, Komisija v odločitvi o sprožitvi postopka meni, da so kljub mnenju strokovnjakov, da imajo optična omrežja za posledico nižje operativne odhodke kot sedanja bakrena telekomunikacijska in kabelska omrežja, grosistične cene podjetja GNA še vedno precej nižje od pričakovanj tržnih poročil.
The Dutch authorities argue that fibre networks entail lower operational costs and have a longer economic lifetime than existing networks therefore lower wholesale prices are possible compared to what data on existing networks might suggest.
Nizozemski organi trdijo, da imajo optična omrežja za posledico nižje operativne stroške in daljšo ekonomsko uporabnost od sedanjih omrežij. Zato so glede na podatke o sedanjih omrežjih mogoče nižje grosistične cene.
This cost advantage provides sufficient room for relatively low wholesale prices compared to the offers on current copper networks.
Ta stroškovna prednost zagotavlja dovolj prostora za relativno nizke grosistične cene v primerjavi s ponudbami na sedanjih bakrenih omrežjih.
Regarding the validity of the investment cost figures, the Commission found in the opening decision that benchmark figures indicated that the capital expenditure per connection projected by GNA appeared to be low in comparison with data available from market players and other sources.
Glede veljavnosti podatkov o naložbenih stroških je Komisija v odločitvi o sprožitvi postopka ugotovila, da so primerjalni podatki pokazali, da se naložbe v dolgoročna sredstva na priključek, ki jih načrtuje GNA, zdijo nizke v primerjavi z razpoložljivimi podatki akterjev na trgu in drugih virov.
The Dutch authorities argue that the feasibility of the planned investment costs are further underpinned by the topology and the characteristics of the geographic area where the network is deployed: the areas concerned in Amsterdam have a high population density and many newly built or renovated and multi-household buildings that help to reduce the costs of the deployment of the network per household.
Nizozemski organi trdijo, da izvedljivost načrtovanih naložbenih stroškov podpirajo tudi topologija in značilnosti geografskega območja, na katerem se omrežje uvaja: zadevna območja v Amsterdamu imajo visoko gostoto prebivalstva ter mnogo novozgrajenih ali prenovljenih in večstanovanjskih zgradb, ki pomagajo zniževati stroške uvedbe omrežja na gospodinjstvo.
Regarding the appraisal of the residual value of the network, the Dutch authorities argue that the estimate in GNA’s business plan is realistic, as the economic lifetime of fibre networks can be 30 years or even more.
Glede ocene preostale vrednosti omrežja nizozemski organi trdijo, da je ocena v poslovnem načrtu podjetja GNA realna, saj lahko ekonomska uporabnost optičnih omrežij traja 30 let ali več.
Within this timeframe, no major additional investment or maintenance costs will be necessary, contrary to existing copper or cable networks.
V tem obdobju ne bodo potrebni nobeni večji dodatni naložbeni ali vzdrževalni stroški, kar pa ne velja za sedanja bakrena ali kabelska omrežja.
Furthermore, the authorities argue that the network in place will have significant ‘strategic value’ due to the ‘natural monopoly characteristics of fibre access networks’ that GNA will enjoy due to its first mover advantage.
Organi tudi trdijo, da bo imelo uvedeno omrežje precejšnjo „strateško vrednost“ zaradi „naravno monopolnih značilnosti omrežij optičnega dostopa“, ki je bo podjetje GNA deležno zaradi prednosti prvega v poslu.
The Dutch authorities also commented on the Commission’s preliminary conclusion that all assumptions underlying the business plan seemed optimistic and that there is a high degree of sensitivity for the success of the project if even one of the targets (such as penetration grade) does not materialize.
Nizozemski organi so tudi izrazili svoje mnenje glede predhodne ugotovitve Komisije, da so bile vse predpostavke v podporo poslovnemu načrtu videti optimistične in da gre pri uspešnosti projekta za visoko stopnjo občutljivosti, če eden od ciljev (kot je stopnja gostote) ne bi bil dosežen.
In this respect, the Dutch authorities had the feasibility of the assumptions reviewed and endorsed by a report by Stratix Consulting/Delft Technical University [51].
Glede tega so nizozemski organi s poročilom Stratix Consulting/Delft Technical University [51] pregledali in potrdili izvedljivosti predpostavk.
The submitted report also assessed the feasibility of the planned GNA penetration rate.
V poročilu je ocenjena tudi izvedljivost načrtovane stopnje gostote podjetja GNA.
By analysing similar projects in and outside Europe and in particular in the Netherlands, estimating also the future market demand for high bandwidth symmetrical networks (i.e. for fibre networks), the submitted report argues that the planned GNA penetration figures can be considered as a conservative estimate.
Z analizo podobnih projektov v Evropi in zunaj nje, predvsem pa na Nizozemskem, v kateri je bilo ocenjeno tudi prihodnje tržno povpraševanje po širokopasovnih simetričnih omrežjih (tj. optičnih omrežjih), je v poročilu ugotovljeno, da načrtovani podatki podjetja GNA o gostoti lahko veljajo za konservativno oceno.
Furthermore, the report argues that following increased market demand for the services requiring fibre networks and also due to the pro-competitive nature of the open infrastructure, the demand for fibre networks may evolve even faster and to a higher level than predicted a few years ago.
V poročilu je tudi ugotovljeno, da se bo zaradi povečanega tržnega povpraševanja po storitvah, ki zahtevajo optična omrežja, in tudi zaradi narave odprte infrastrukture, ki spodbuja konkurenco, povpraševanje po optičnih omrežjih morda razvijalo hitreje in po višji stopnji, kot je bilo napovedano pred nekaj leti.
The main conclusion of the submitted study, shared by the Dutch authorities, is that the investment of the Amsterdam municipality is commercially viable and therefore in line with the MEIP.
Glavna ugotovitev študije, s katero se strinjajo nizozemski organi, je, da je naložba mestne občine Amsterdam ekonomsko upravičena in zato v skladu z načelom vlagatelja pod tržnimi pogoji.
Comments submitted in connection with Third Party observations
Pripombe, predložene v zvezi z mnenji tretjih strank
First, the Dutch authorities reiterate their position that the doubts of the Commission regarding ‘concomitance’ and ‘identical terms and conditions’ originating from the pre-investments of the Amsterdam municipality have been properly addressed by the reimbursement of the relevant pre-financed costs by GNA.
Prvič, nizozemski organi ponavljajo svoje mnenje, da je dejstvo, da je zadevne predhodno financirane stroške povrnilo podjetje GNA, ustrezen odgovor na dvome Komisije o „hkratnosti“ in „enakosti pogojev“ glede predhodnih naložb mestne občine Amsterdam.
Furthermore, they claim that GNA’s business plan is feasible and realistic, therefore the investment of the Amsterdam municipality in the GNA project is fully in line with the MEIP.
Trdijo tudi, da je poslovni načrt podjetja GNA izvedljiv in realen ter da je zato naložba mestne občine Amsterdam v projekt podjetja GNA popolnoma skladna z načelom vlagatelja pod tržnimi pogoji.
Second, the Dutch authorities also highlight again that, according to their view, in line with the existing case law [52] and Commission’s decisions [53], the significant participation of private investors in a project under identical terms and conditions as the public investor should be considered as ‘conclusive evidence’ that the MEIP is met and hence no State aid is involved.
Drugič, nizozemski organi še enkrat poudarjajo, da bi moralo po njihovem mnenju v skladu z veljavno sodno prakso [52] in odločbami Komisije [53] precejšnje sodelovanje zasebnih vlagateljev v projektu, ki poteka pod enakimi pogoji kot sodelovanje javnega vlagatelja, veljati za „prepričljiv dokaz“, da se spoštuje načelo vlagatelja pod tržnimi pogoji in da zato ni vpletena nikakršna državna pomoč.
Comments on Third Party observations
Pripombe o mnenjih tretjih strank
The Dutch authorities, by referring to Council Regulation (EC) No 659/1999 [54], argue that if an undertaking’s competitive position cannot be affected directly by the measure at hand, that party cannot be qualified as an interested party.
Nizozemski organi ob sklicevanju na Uredbo Sveta (ES) št. 659/1999 [54] trdijo, da stranka ne more veljati za zainteresirano stranko, če obravnavani ukrep ne more neposredno vplivati na konkurenčni položaj podjetja.
Therefore, the Dutch authorities call upon the Commission not to take into account the comments of ONO, France Telecom [55] and Com Hem, since they do not have any business interest on the Dutch and particularly on the Amsterdam broadband market.
Zato nizozemski organi pozivajo Komisijo, naj ne upošteva pripomb operaterjev ONO, France Telecom [55] in Com Hem, saj nimajo nobenega poslovnega interesa na Nizozemskem, predvsem pa ne na širokopasovnem trgu v Amsterdamu.
The Dutch authorities argue that all parties providing comments in this case failed to take into account that the investments of private investors are sufficient to conclude the MEIP conformity of the investment.
Nizozemski organi trdijo, da nobena od strank, ki so predložile pripombe, ni upoštevala dejstva, da je sodelovanje zasebnih vlagateljev v naložbi zadosten dokaz spoštovanja načela vlagatelja pod tržnimi pogoji pri naložbi.
They also claim further that, according to the relevant Court jurisprudence, the analysis of the business plan was not necessary in the presence of these private investors.
Trdijo tudi, da v skladu z veljavno sodno prakso Sodišča Evropskih skupnosti analiza poslovnega načrta ni bila potrebna glede na udeležbo navedenih zasebnih vlagateljev.
Regarding UPC’s claim that broadband penetration in the areas to be covered by GNA has already reached 65 %, therefore GNA would fail to reach the targeted penetration ratios, the Dutch authorities argue that the addressable market is much higher for GNA as not only broadband services, but TV, telephony and other new services will be offered to customers over GNA’s network.
Glede trditve operaterja UPC, da je gostota širokopasovnih priključkov na območjih, ki naj bi jih zajelo podjetje GNA, že dosegla 65 % in da podjetje GNA potemtakem ne bi moglo doseči ciljnih stopenj gostote, nizozemski organi trdijo, da je razpoložljivi trg za GNA precej večji, saj bodo prek omrežja podjetja GNA strankam ponujene ne samo širokopasovne storitve, temveč tudi televizija, telefonija in druge nove storitve.
In relation to the churn rates submitted by UPC aiming to demonstrate the lack of sufficient interest for the services which can be provided over the GNA network, the Dutch authorities argue that the data is not relevant as service delivery over the network only started in March 2007, and therefore no conclusions could yet be drawn based on those data [56].
V zvezi s stopnjami osipa (prehoda h konkurenci), ki jih je predložil UPC, da bi dokazal pomanjkanje zadostnega zanimanja za storitve, ki jih je mogoče ponuditi prek omrežja podjetja GNA, nizozemski organi trdijo, da ti podatki niso ustrezni, saj so začeli storitev prek omrežja ponujati šele marca 2007, zato na podlagi teh podatkov še ni mogoče oblikovati nobenih ugotovitev [56].
For the reasons explained in recital 79, the Dutch authorities doubt the qualification of the four other companies as interested parties and are of the opinion that these parties only submitted general observations which are not relevant for the assessment of the measure at hand.
Zaradi razlogov, razloženih v odstavku (78), nizozemski organi dvomijo, da bi druge štiri družbe lahko veljale za zainteresirane stranke. Trdijo, da so te stranke predložile le splošne pripombe, ki niso pomembne za oceno obravnavanega ukrepa.