natgillin/translations-raw huggingface dataset:
The Commission has assessed the arguments of the various parties in this respect.
Komisija je v zvezi s tem ocenila utemeljitve različnih strank.
The Commission notes that GNA, in order to determine the penetration rate curve, […].
Komisija ugotavlja, da je podjetje GNA za ugotovitev krivulje stopnje gostote priključkov […].
This penetration rate forecast model incorporates all the assumptions required, including take-up rates, speed of take-up rate and churn rates as well as those assumptions that were quoted by the UPC as being important factors to assess the feasibility of the business plan.
Ta model napovedovanja stopenj gostote vključuje vse zahtevane predpostavke, vključno s stopnjami pridobivanja naročnikov, hitrostjo stopenj pristopa in stopnjami osipa, pa tudi tiste predpostavke, ki jih je operater UPC navedel kot pomembne dejavnike za oceno izvedljivosti poslovnega načrta.
Therefore, the business plan includes the relevant factors that are necessary for the assessment of the penetration rate.
Poslovni načrt tako vključuje zadevne dejavnike, ki so potrebni za oceno stopnje gostote.
On the question whether the penetration rates in the business plan are achievable, the Commission notes that it will depend to a large extent on the evolution of the market, the speed at which new applications and technologies requiring very fast, symmetrical fibre broadband connection will be adopted by service providers and the reaction of customers to these new possibilities.
Glede vprašanja dosegljivosti stopenj gostote priključkov v poslovnem načrtu Komisija ugotavlja, da bo ta veliko odvisna od razvoja trga, hitrosti, s katero bodo ponudniki storitev sprejemali nove aplikacije in tehnologije, ki zahtevajo zelo hiter simetrični optični širokopasovni priključek, in odziva uporabnikov na te nove možnosti.
These factors cannot be known with certainty at this point in time, as is demonstrated by the different views between UPC (more sceptical regarding market prospects) and Reggefiber, ING RE and Delft Technical University (who have endorsed the estimates in the business plan either as investors or as independent consultants).
Teh dejavnikov trenutno še ni mogoče z gotovostjo poznati, kot kažejo tudi razlike v mnenju operaterja UPC (ki je bolj skeptičen glede tržnih obetov) ter družb Reggefiber, ING RE in Delft Technical University (ki so potrdile ocene iz poslovnega načrta kot vlagateljice ali neodvisne svetovalke).
More specifically on the churn rates submitted by UPC to show that the project is failing to reach any meaningful penetration rates, the Commission notes that the submitted figures cover the period between 1 January 2006 and 1 June 2007, while retail operators using the GNA network started offering the services to customers in limited areas of Amsterdam only in March 2007.
Komisija glede stopenj osipa, ki jih je predložil UPC za ponazoritev, da projekt ne dosega pomembnejših stopenj gostote priključkov, ugotavlja, da predloženi podatki zajemajo obdobje od 1. januarja 2006 do 1. junija 2007, medtem ko so maloprodajni operaterji, ki uporabljajo omrežje podjetja GNA, na omejenih območjih Amsterdama začeli ponujati storitve strankam šele marca 2007.
Given the very limited amount of time elapsed since services are provided over the GNA network, the Commission is not convinced that meaningful information could be elicited from the churn rates at this stage.
Glede na zelo omejen čas, ki je potekel od zagotovitve storitev prek omrežja podjetja GNA, Komisija ni prepričana, da je mogoče iz stopenj osipa v tej fazi dobiti kakršne koli pomembne informacije.
In relation to UPC’s argument that the successful examples of small Dutch cities in fibre deployment, such as Hillegom or Nuenen [84] should not be taken into account as these cities are not comparable in terms of size, competitive situation and subsidies to the project of Amsterdam, the Commission considers that although there are certain differences, those projects still provide some useful insights for the benchmarking analysis as examples of fibre deployment projects in the Netherlands.
Glede utemeljitve operaterja UPC, da primerov uspešne uvedbe optičnega omrežja v majhnih nizozemskih mestih, kot sta Hillegom ali Nuenen [84], ne bi smeli upoštevati, ker ti mesti po velikosti, konkurenčnem položaju in subvencijah nista primerljivi z amsterdamskim projektom, Komisija meni, da kljub nekaterim razlikam ti projekti še vedno zagotavljajo delni koristni vpogled za primerjalno analizo kot primeri projektov uvajanja optičnega omrežja na Nizozemskem.
Based on industry analysis [85] approximately 20-25 % of the population on average is willing to migrate to a new fibre network.
Analiza panoge [85] je pokazala, da je v povprečju približno od 20 do 25 % prebivalstva pripravljenega prestopiti na novo optično omrežje.
Moreover, based on current trends, the demand for services being delivered over high bandwidth fibre networks seem to be increasing at a higher pace than what market experts expected a few years ago.
Sedanja gibanja poleg tega kažejo, da se zdi, da povpraševanje po storitvah, ponujenih prek visoke pasovne širine optičnih omrežij, narašča hitreje, kot so tržni strokovnjaki pričakovali pred nekaj leti.
The current plans for fibre networks deployment especially in the Netherlands and other European countries [86] provide further evidence for the attractiveness of investments in fibre access networks.
Sedanji načrti za uvajanje optičnega omrežja predvsem na Nizozemskem in v drugih evropskih državah [86] pomenijo dodatne dokaze o privlačnosti naložb v omrežja z optičnim dostopom.
Therefore, it is not unrealistic that a penetration rate of […] % of all households could be reached after […] months.
Zato ni neuresničljivo, da bi po […] mesecih lahko dosegli stopnjo gostote […] % vseh gospodinjstev.
The Commission therefore concludes that it is conceivable for a market economy investor to invest in the project on that basis of the penetration rates foreseen in the business plan (indeed, this is what Reggefiber and ING RE did).
Komisija zato ugotavlja, da je za vlagatelja pod tržnimi pogoji verjetno, da bi vlagal v ta projekt na podlagi stopenj gostote, pričakovanih v poslovnem načrtu (kar sta dejansko storili družbi Reggefiber in ING RE).
Wholesale prices
Grosistične cene
Wholesale prices per connection charged by GNA to BBned for the exploitation of the passive network […].
Grosistične cene na priključek, ki jih podjetje GNA zaračunava družbi BBned za izkoriščanje pasivnega omrežja […].
In its submissions, UPC has calculated that GNA has to charge at least EUR 20-EUR 22 per month for a wholesale connection enabling triple-play services on its network.
Operater UPC je v svojih predloženih dokumentih izračunal, da mora podjetje GNA zaračunati vsaj od 20 do 22 EUR na mesec za grosistični priključek, ki na njegovem omrežju omogoča storitve trojčka.
However, at this price level, the final retail service prices would necessarily be more expensive than current similar offers of the existing operators, which allegedly raises doubts about the targeted penetration rate.
Vendar pa bi bile na tej cenovni ravni končne maloprodajne cene nujno višje od trenutnih podobnih ponudb sedanjih operaterjev, kar po mnenju operaterja UPC sproža dvome o dosegljivosti ciljne stopnje gostote.
To support its arguments, UPC submitted calculations [87] for the wholesale prices based on the retail service prices offered by service providers [88] on GNA’s network.
Operater UPC je v podporo svojim dokumentom predložil izračune [87] za grosistične cene, temelječe na cenah maloprodajnih storitev, ki jih ponudniki storitev [88] ponujajo na omrežju podjetja GNA.
UPC argues that based on the current retail prices, it is unlikely that all three layers (passive, active and retail) will be able to operate profitably at the same time.
UPC trdi, da je na podlagi sedanjih maloprodajnih cen malo verjetno, da bi lahko vse tri plasti (pasivna, aktivna in maloprodajna) hkrati poslovale dobičkonosno.
In contrast, the Dutch authorities argue that the new fibre technology requires different cost calculations than the traditional copper or cable lines.
Nasprotno pa nizozemski organi trdijo, da nova tehnologija optičnih vlaken zahteva drugačen izračun stroškov od tradicionalnih bakrenih ali kabelskih povezav.
For instance, the fibre network requires far lower operational expenditures (such as maintenance, management costs) and also has a longer economic life, i.e. a longer amortisation period (up to 30 years).
Na primer, optično omrežje zahteva precej nižje operativne izdatke (kot so izdatki za vzdrževanje in upravljanje), ima pa tudi daljšo ekonomsko uporabnost, tj. daljše obdobje amortizacije (do 30 let).
UPC also asserted that it is not possible for all three layers [89] to be profitable simultaneously.
Operater UPC je tudi trdil, da vse tri plasti [89] ne morejo biti hkrati dobičkonosne.
In this respect, the Commission notes that it assessed the wholesale prices charged for access to the passive layer, as this is the layer included in the business plan under assessment, where public funds are involved.
Glede tega Komisija navaja, da je ocenila grosistične cene, zaračunane za dostop do aktivne plasti, saj je ta plast vključena v ocenjevani poslovni načrt, ki zajema javna sredstva.
The Commission found that these wholesale prices are not unrealistic [90].
Komisija je ugotovila, da te grosistične cene niso nerealne [90].
The viability of the other two layers, operated by private operators, is to a certain extent affected by the wholesale prices charged for using the passive layer.
Na ekonomsko upravičenost drugih dveh plasti, ki ju upravljata zasebna operaterja, v določeni meri vplivajo grosistične cene, zaračunane za uporabo pasivne plasti.
Considering the fact that the operation of the second layer was won by BBned through an open tender, that an open, non-discriminatory access is offered to any operators on the retail layer and taking also into account the wholesale prices of GNA, the Commission does not see a risk that the two other layers might not be operated profitably.
Glede na dejstvo, da je bila za upravljanje druge plasti na odprtem razpisu izbrana družba BBned in da je vsem operaterjem na maloprodajni ravni ponujen odprt in nediskriminacijski dostop, ter ob upoštevanju grosističnih cen podjetja GNA, Komisija ne vidi nobene nevarnosti, da drugi dve plasti ne bi poslovali dobičkonosno.
As regards the prices charged by GNA for the wholesale access, there are some indications that fibre networks may entail lower operational expenditure than legacy telecommunication and cable networks.
Glede cen, ki jih GNA zaračunava za dostop na debelo, je nekaj kazalnikov, da bi lahko optična omrežja vključevala nižje odhodke iz poslovanja od sedanjih telekomunikacijskih in kabelskih omrežij.
Based on these considerations and also taking into account the benchmark information available and the results of the Stratix Consulting/Delft Technical University report, the Commission concludes that the wholesale prices in the business plan are not unrealistic compared to similar services provided by other operators.
Na podlagi teh premislekov ter ob upoštevanju razpoložljivih primerljivih informacij in rezultatov poročila družbe Stratix Consulting/Delft Technical University Komisija ugotavlja, da grosistične cene v poslovnem načrtu niso nerealne v primerjavi s podobnimi storitvami, ki jih ponujajo drugi operaterji.
Investment costs
Naložbeni stroški
The Commission also assessed the planned investment costs.
Komisija je ocenila tudi načrtovane naložbene stroške.
GNA calculates EUR […].
GNA obračunava […].
This leads to an overall cost for the passive layer of […] per household.
To pripelje do skupnih stroškov za pasivno plast, ki znašajo […]na gospodinjstvo.
The benchmark figures, collected by the Commission, for the complete infrastructure (active and passive together) fluctuate between EUR 1000 and EUR 2000 [91], while the ratio between the investment needs for passive and active connection is roughly about two to one.
Primerjalni podatki, ki jih je zbrala Komisija, se za celotno infrastrukturo (aktivno in pasivno) gibljejo med 1000 in 2000 EUR [91], medtem ko je razmerje med naložbenimi potrebami za pasivni in aktivni priključek približno dve proti ena.
UPC supports the preliminary view of the Commission expressed in the opening decision that the viability of the business plan is highly dependent on the investment costs and emphasizes that the calculated costs are very low estimates.
UPC podpira predhodno mnenje Komisije, izraženo v odločitvi o sprožitvi formalnega postopka preiskave, da je ekonomska upravičenost poslovnega načrta zelo odvisna od naložbenih stroškov, in poudarja, da so izračunani stroški ocenjeni zelo nizko.
In contrast, the Dutch authorities argue that the investment costs result from the topology of the areas concerned, the high population density and the presence of multi-household dwellings (lowering deployment costs per household).
Nasprotno pa nizozemski organi trdijo, da so naložbeni stroški posledica topologije zadevnih območij, visoke gostote prebivalstva in večstanovanjskih objektov (nižji stroški uvedbe na gospodinjstvo).
Moreover, the authorities highlight that GNA has already signed a contract with civil engineering companies Van den Berg/BAM and Draka Comteq in […] 2006 [92] at specified conditions which should guarantee that the deployment costs will be in the range included in the business plan.
Poleg tega organi poudarjajo, da je podjetje GNA v […] 2006 [92] že podpisalo pogodbo z gradbenima podjetjema Van den Berg/BAM in Draka Comteq o nekaterih pogojih, ki naj bi zagotovili, da bodo stroški uvedbe v razponu, vključenem v poslovnem načrtu.
Considering also the topography of the areas (densely populated area on a flat terrain), the fact that the civil engineering companies carrying out the works accepted to do them for a price compatible with the business plan, and the available benchmark data, the Commission finds that the planned GNA investment figures appear to be realistic.
Poleg tega ob upoštevanju topografije območij (gosto poseljeno območje na ravnem zemljišču) in dejstva, da sta se izvedbeni gradbeni podjetji strinjali, da dela opravita po ceni, združljivi s poslovnim načrtom, ter na podlagi razpoložljivih primerjalnih podatkov Komisija ugotavlja, da so načrtovani podatki o naložbenih stroških podjetja GNA videti realni.
The Commission also takes note that GNA calculated with a certain level of buffer in case of an overrun of the investment costs which is in line with prudent market investors’ practice and provides further evidence for the robustness of the estimates of the investment costs.
Komisija tudi ugotavlja, da je podjetje GNA opravilo svoje izračune z določeno rezervo v primeru prekoračitve naložbenih stroškov, kar je v skladu s prakso preudarnega tržnega vlagatelja in dodatno dokazuje trdnost ocen naložbenih stroškov.
Residual value of the network
Preostala vrednost omrežja
The estimated residual value of the passive network has a pivotal role in GNA’s business plan to achieve the financial targets and to provide a collateral for the investors.
Ocenjena preostala vrednost pasivnega omrežja ima ključno vlogo v poslovnem načrtu podjetja GNA pri doseganju finančnih ciljev in zagotavljanju poroštva vlagateljem.
GNA applies a multiple-based calculation to determine the residual value of the asset (the projected value of the network in […] is EUR […]), the value is depending only on the achieved penetration rate.
Podjetje GNA uporablja večkratni izračun za določitev preostale vrednosti sredstev (predvidena vrednost omrežja v […] je […] EUR). V poslovnem načrtu podjetja GNA je vrednost odvisna le od dosežene stopnje gostote.
The Commission also assessed with an alternative multiple-based valuation the residual value of the GNA network, resulting in a value range of EUR […] million at […] % penetration rate, which matches GNA’s estimate.
Komisija je ocenila tudi preostalo vrednost omrežja podjetja GNA na podlagi alternativnega večkratnega vrednotenja, rezultat pa je bila vrednost […] milijonov EUR ob stopnji gostote […] %, kar se ujema z oceno podjetja GNA.
UPC suggests that the benchmark figures used by the Commission in the opening decision [93] for assessing the residual value of the network are too optimistic, since those figures are related to an established company with recurring revenues and customers.
UPC trdi, da so primerjalni podatki, ki jih je Komisija v odločitvi o sprožitvi formalnega postopka preiskave [93] uporabila pri oceni preostale vrednosti omrežja, preveč optimistični, saj se ti podatki nanašajo na uveljavljeno družbo z rednimi prihodki in strankami.
Furthermore, UPC asserts that for the expected economic lifetime of the network, an estimation of maximum 20 years appears reasonable (compared to the […] used in the business plan of GNA).
Poleg tega UPC trdi, da je razumna pričakovana ekonomska uporabnost omrežja 20 let (v primerjavi z […], uporabljenimi v poslovnem načrtu podjetja GNA).
UPC also recommends using a cash flow based assessment to check the residual value of the network.
UPC tudi priporoča uporabo ocene na podlagi denarnega toka, da bi preverili preostalo vrednost omrežja.
The Dutch authorities argue that the calculation of GNA’s business plan in relation to the residual value of the network is realistic and based on a correct methodology.
Nizozemski organi trdijo, da je izračun poslovnega načrta podjetja GNA glede preostale vrednosti omrežja realen in utemeljen na pravilni metodologiji.
In addition, they assert the economic lifetime of fibre networks can be […] or even more.
Poleg tega trdijo, da lahko ekonomska uporabnost optičnih omrežij traja […]ali dlje.
Furthermore, they assert that the network in place will be valuable due to its first-mover advantage and because the construction of a second similar network might not be economically viable in view of certain natural-monopoly characteristics of fibre access networks.
Trdijo tudi, da bo uvedeno omrežje dragoceno zaradi prednosti prvega v poslu in ker izgradnja drugega podobnega omrežja morda ne bo ekonomsko upravičena glede na nekatere značilnosti naravnega monopola omrežij optičnega dostopa.
These latter factors allegedly provide further evidence that the network in place will have significant value even if the business plan does not fully materialize.
Slednji dejavniki so nadaljnji dokaz, da bo vrednost zgrajenega omrežja precejšnja, čeprav poslovni načrt ne bo v celoti izpolnjen.
Since limited relevant market data were available for this parameter, the Commission analysed the residual value of the network with several alternative methods, including a cash flow based assessment [94].
Ker so bili za ta parameter na voljo omejeni ustrezni tržni podatki, je Komisija preostalo vrednost omrežja analizirala z več alternativnimi metodami, vključno z oceno na podlagi denarnega toka [94].
Moreover, industry reports [95] support the view of the Dutch authorities that the economic lifetime of fibre networks may reach […].
Poleg tega panožna poročila [95] podpirajo mnenje nizozemskih organov, da lahko ekonomska uporabnost omrežja doseže […].
Based on the available data, the residual value does not differ significantly from the price range derived from benchmark data.
Na podlagi razpoložljivih podatkov se preostala vrednost ne razlikuje dosti od cenovnega razpona, dobljenega iz primerjalnih podatkov.
The Commission also takes note that the network is likely to be a tangible asset with significant value for the shareholders of GNA […] [96].
Komisija tudi ugotavlja, da bo omrežje verjetno opredmeteno osnovno sredstvo s precejšnjo vrednostjo za delničarje podjetja GNA […] [96].
Methodological concerns
Metodološki pomisleki
In the opening decision, the Commission also raised certain preliminary methodological concerns regarding GNA’s business plan.
V odločitvi o sprožitvi formalnega postopka preiskave je Komisija tudi navedla nekatere predhodne metodološke pomisleke glede poslovnega načrta podjetja GNA.
For instance, corporate tax is not included in the business plan.
Na primer, poslovni načrt ne vključuje davka na dobiček gospodarskih družb.
The Dutch authorities argue that the shareholders of GNA chose the legal form of ‘gesloten commanditaire vennotschap’ that has no obligation to pay profit tax.
Nizozemski organi odgovarjajo, da so se delničarji podjetja GNA odločili za pravno obliko „gesloten commanditaire vennotschap“, ki ni zavezana plačevati davek na dobiček.
Therefore the results of GNA will be consolidated directly by its shareholders and the project is assessed on a ‘pre-tax base’.
Zato bodo rezultate podjetja GNA konsolidirali neposredno njeni delničarji, projekt pa je ocenjen na „podlagi pred davkom“.
Having assessed the measure in more detail during the formal investigation, the Commission finds that the elements of methodological concern are of minor importance, based on the choice of the business plan methodology applied by GNA, and do not put into question the overall viability of the business plan.
Po podrobnejši oceni ukrepa med formalno preiskavo Komisija ugotavlja, da so elementi metodoloških pomislekov manj pomembni glede na metodologijo poslovnega načrta, ki jo je izbralo podjetje GNA, in ne postavljajo pod vprašaj splošne ekonomske upravičenosti poslovnega načrta.
Furthermore, the Commission notes that both the private investors and also PricewaterhouseCoopers which audited the business plan endorsed [97] the methodological choices on which the business plan is based.
Komisija tudi ugotavlja, da so zasebni vlagateljici in tudi družba PricewaterhouseCoopers, ki je revidirala poslovni načrt, potrdili [97] metodološke izbire, na katerih temelji poslovni načrt.
Other considerations regarding the business plan submitted by the complainants
Drugi pomisleki glede poslovnega načrta, ki so jih predložili pritožniki
The Commission would like to point out that the Dutch authorities have also submitted several sensitivity analyses and business scenarios [98] to bolster the robustness of GNA’s business plan further.
Komisija bi rada poudarila, da so nizozemski organi predložili tudi več analiz občutljivosti in poslovnih scenarijev [98], da bi še podprli trdnost poslovnega načrta podjetja GNA.
This information further demonstrated that GNA’s business plan takes into account all risks and opportunities related to the project.
Te informacije so spet dokazale, da poslovni načrt podjetja GNA upošteva vsa tveganja in priložnosti, povezane s projektom.
In its submissions, UPC criticised further assumptions of GNA’s business plan not explicitly mentioned in the assessment of the business plan outlined in recitals 121 and following, concluding that the plan would not be commercially feasible.
Operater UPC je v svojih predloženih dokumentih nato kritiziral predpostavke poslovnega načrta podjetja GNA, ki niso izrecno navedene v oceni poslovnega načrta iz uvodne izjave 121 in naslednjih, iz česar je sklepal, da načrt ne bi bil ekonomsko upravičen.
The Commission would like to reiterate that neither UPC nor RBB, the consultancy which carried out several reports for UPC in the framework of the investigation of this case, had access to the actual business plan of GNA.
Komisija bi rada še enkrat ponovila, da niti operater UPC niti RBB, svetovalno podjetje, ki je pripravilo več poročil za operaterja UPC, v preiskavi te zadeve nista imela dostopa do dejanskega poslovnega načrta podjetja GNA.
Hence, their analyses were based on publicly available information, above all on an analyst report prepared on the feasibility of a fibre-to-the-home project in Amsterdam [99].
Zato so njune analize temeljile na javno razpoložljivih informacijah, predvsem pa na pripravljenem analitičnem poročilu o izvedljivosti projekta omrežja kablov iz steklenih vlaken do doma v Amsterdamu [99].